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  • Daily Scoop 22-11-3

Daily Scoop 22-11-3

👋 Your Thursday Scoops - Burger King shakeup & Moderna's dark cloud

Today's Scoop:Gloomy

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Big Picture

  1. Interest rates are rising and will likely stay high for a while.

  2. Weekly layoffs are still relatively low.

  3. The US is exporting less than before.

The Market: 

⬇️

-1.1%

S&P 500: 3,719.89

1Mo:

 -2% 

| 1Yr:

-21%

 

| 5Yr: 

+44%

The market continued lower after the Federal Reserve's policy update yesterday.

The Federal Reserve raised baseline interest rates by 0.75%,

bringing the floor for short-term interest rates to roughly 4%. Investors are now expecting interest rates to go even higher and stay high longer than before, even though the Fed said it would slow its hiking pace.

The US economy is starting to show more cracks.

Corporate financial reports this week have been much weaker. The Census Bureau also reported a significant widening of the US trade deficit in September, as US firms exported less to other countries.

The jobs market is still looking strong, but investors are waiting for the official October jobs report tomorrow.

Today, the Labor Department reported initial unemployment claims, a proxy for layoffs, declined to 217,000. That's right around pre-crisis lows.

Company Scoops ❤🌎💰

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

Marriott

-

Restaurant Brands

Etsy's

Roku

Moderna

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

🤓 Inside Scoop...

One of the most critical components of corporate financial reports is the

guidance

. Public companies must report on their financial health each quarter, releasing standardized metrics on their

sales, expenses, debt, profit,

etc. All of that information, though, is backward-looking. Investors are buying a company for its future earnings. So the company's reported

guidance

, or

outlook

, on its future sales or profits provides investors with a sense of optimism or pessimism from the people who know the company the best. Forecasted metrics are not required, so many companies have avoided projections this past year, given the unprecedented economic events. If they do report, you'll hear that they may have

raised

or

lowered guidance

, meaning they expect higher or lower profit/sales/whatever than they projected last time. You might also hear guidance compared to Wall Street Analysts' projections or estimates.

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