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  • Daily Scoop 22-11-22

Daily Scoop 22-11-22

👋 Your Tuesday Scoops - Krispy Kreme stiffs employees & Beyond's dirty Meat

Today's Scoop:Floating

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Big Picture

  1. Shopping hasn't slowed as much as economists feared.

  2. Companies are planning more salary raises.

  3. Investors are avoiding the troubled housing market.

The Market: 

⬆️

+1.4%

S&P 500: 4,003.58

1Mo:

 

+5%

 

| 1Yr:

-15%

 

| 5Yr:

+54%

The market drifted higher after a slew of positive updates from retail companies.

Shopping hasn't slowed as much as economists feared.

Quarterly updates from retail companies like American Eagle, Abercrombie, Best Buy, Urban Outfitters, and Dick's were much more positive than investors expected, though expectations were low. Consumers are spending a lot overall but less on non-essential products, as food and gas take up more of their budgets. Bloomberg

most people's excess savings from the pandemic have been spent.

Companies are planning more salary raises.

Willis Towers Watson reported nearly 70% of companies spent more on salary increases than they expected amidst a competitive market to fill open positions.

Investors are backing away from a sinking housing market.

Real estate brokerage Redfin found investment home purchases are down 30% from last year, the steepest drop since the Financial Crisis.

High mortgage rates are sapping home buyer demand.

Company Scoops ❤🌎💰

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

Krispy Kreme

-

Meta

-

Beyond Meat

-

Mattel

-

Domino's

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

🤓 Inside Scoop...

NFTs

are

non-fungible tokens

. These tokens can be used to represent ownership of

digital assets.

Essentially, we now have the technology to create uniqueness on the internet. Individuals can purchase and verify sole ownership of digital art, photos, videos, or audio files. In contrast, before, any song or image could be replicated and distributed endlessly without understanding the source. That which can be uniquely owned can have more value. A toy company might use NFTs like digital trading cards, where owners know each one is unique.

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