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- Daily Scoop 22-11-14
Daily Scoop 22-11-14
👋 Your Monday Scoops - United pilot trouble & JPMorgan's dodges blowups
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Big Picture
Inflation is cooling but might stick around for a while.
China's starting to stimulate its economy.
Corporate profits are slumping.
The Market:
⬇️
-0.9%
S&P 500: 3,957.25
1Mo:
+8%
| 1Yr:
-15%
| 5Yr:
+53%
The market drifted lower today after a significant rally last week.
Inflation is definitely cooling off, but it's far from gone.
Last week, the Labor Department reported 1-year inflation at 7.7%, a considerable deceleration from earlier this year. The Federal Reserve Bank of New York said today that
consumers expect inflation to stay high for longer
. Expectations are important because if a business expects rising costs, it might raise prices in anticipation, perpetuating the cycle.
Corporate profits are slumping.
We're nearly finished with third-quarter financial reports, and about 69% of companies reported higher profits than investors expected. Usually, about 77% of companies beat expectations. The energy sector's record profits were the bulk of the positive news. Without those companies, profits declined on average.
China's trying to stimulate its economy after several months of battling covid.
The government unveiled several new policies over the weekend to reduce the economic impacts of covid restrictions and support the real estate market.
Company Scoops ❤🌎💰
(Click to dig in & vote your reaction, see how others feel)
Disney's
-
Unilever
-
United Airlines
-
JPMorgan
-
Eyenovia
(These links only work for 24 hours while the story is live)
🤓 Inside Scoop...
Custody
is an essential concept in managing your finances. The
custodian
of your assets, whether cash, stock, crypto, or something else, is the institution with the authority and responsibility of possessing and safeguarding them. If you hold your savings with a federally-regulated bank (
FDIC
-insured), your cash is protected from loss of up to $250,000 if that bank goes out of business. If you're holding your stocks, bonds, or other securities with a federally-regulated investment advisor (
SIPC
-insured), your investments are protected up to $500,000 if the investment platform blows up.
Crypto
is not regulated. So when a crypto platform blows up, and they have custody of your assets, your money can disappear. You can avoid this by holding your assets in your own custody with your own
digital wallet.
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