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  • Daily Scoop 22-11-16

Daily Scoop 22-11-16

👋 Your Wednesday Scoops - Goldman sexism & Google's sneaky tracking

Today's Scoop:Gloomy

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Big Picture

  1. Homebuilders are losing confidence in the housing market.

  2. Crypto markets are in crisis.

  3. Consumers are spending less on non-essentials.

The Market: 

⬇️

-0.8%

S&P 500: 3,958.79

1Mo:

 

+8%

 

| 1Yr:

-16%

 

| 5Yr:

+54%

The market slumped today after the worrisome report from Target raised concerns about consumer spending.

Consumers are still spending but on different things.

The Commerce Department reported overall retail sales climbed the most since February last month as people spent more on gas, dining out, and experiences.

People are cutting back on non-essential purchases.

Homebuilders are losing confidence in the housing market as high mortgage rates continue to deter homebuyers.

The National Association of Home Builders reported the 10th straight monthly decline in homebuilder sentiment.

Crypto markets are crumbling.

After last week's collapse of major crypto exchange FTX, there's been a wave of contagion. Multiple other major crypto exchanges have paused withdrawals, locking up customers' funds, in a sign of trouble.

Many more crypto exchanges may file for bankruptcy.

Cryptocurrency prices continue to fall.

Company Scoops ❤🌎💰

(Click to dig in & vote your reaction, see how others feel)

Microsoft's

-

Google

-

BMW

-

Goldman

-

Target

(These links only work for 24 hours while the story is live)

🤓 Inside Scoop...

Amidst increasing climate risks and broadening regulations, global corporations are focusing on reducing the greenhouse gas pollution caused by their product supply chains.

Steelmaking

accounts for roughly 7-9% of global direct

greenhouse gas emissions

from fossil fuels. Industry relies heavily on burning fossil fuels to power its manufacturing. Mechanical processes account for most of the world's energy use, most of which comes from burning fossil fuels - think motors and heating. Only 25% of the world's energy goes into creating electricity. Switching industrial processes from fossil fuels to renewable alternatives like green hydrogen will be a critical step toward slowing climate change.

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