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- Daily Scoop 22-11-17
Daily Scoop 22-11-17
👋 Your Thursday Scoops - Starbucks sabotage & Costco forced to cut emissions
Today's Scoop:Uncertain
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Big Picture
Consumers haven't stopped spending.
The jobs market is still strong.
The housing market continues to tumble.
The Market:
⬇️
-0.3%
S&P 500: 3,946.56
1Mo:
+6%
| 1Yr:
-16%
| 5Yr:
+52%
The market wobbled lower today as investors digested mixed reports on the consumer.
People are still shopping and spending, but high prices have shifted spending priorities.
The Commerce Department reported the biggest jump in retail spending since February, but food, groceries, and gas are taking up more significant portions of people's budgets. People are spending less on non-essential items like electronics. Luxury brands are doing well still, as wealthier individuals have felt less strain from inflation.
The jobs market is still strong.
Tech companies have announced massive layoffs, but beyond that, the Labor Department reported overall initial jobless claims fell last week.
Weekly layoffs are still near pre-pandemic lows.
The housing market is crumbling.
The Census Bureau reported another monthly decline in home construction. Single-family
housing starts hit the lowest level since May 2020.
The Dallas Federal Reserve expects
home prices to fall by up to 20%
now that mortgage rates have more than doubled this year to over 7% on a 30-year.
Company Scoops ❤🌎💰
(Click to dig in & vote your reaction, see how others feel)
Starbucks
-
First Solar
-
Nvidia
-
Costco
-
Macy's
(These links only work for 24 hours while the story is live)
🤓 Inside Scoop...
As more companies announce goals to reduce their environmental impact, specific terms can signal authenticity in their ambitions, like the
Science Based Targets initiative (SBTi)
. Any company can announce an emissions-reduction goal. The big question is whether they know how to measure their
emissions
, implement strategies to reduce them, or reduce them urgently enough. The SBTi is a partnership between CDP, the United Nations Global Compact, World Resources Institute (WRI), and the World Wide Fund for Nature (WWF). In committing to SBTi, companies pledge to reduce emissions at a necessary pace to help avoid the worst outcomes of climate change and agree to official oversight and validation of their work.
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