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  • Daily Scoop 22-11-7

Daily Scoop 22-11-7

👋 Your Monday Scoops - Apple's iPhone shutdown & Wells Fargo's customer abuse

Today's Scoop:Sturdy

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Big Picture

  1. The jobs market is still pretty strong.

  2. Energy prices are jumping ahead of a serious cold front.

  3. US Election Day is tomorrow, determining the future of Congress.

The Market: 

⬆️

+1.0%

S&P 500: 3,806.80

1Mo:

 

+5%

 

| 1Yr:

-19%

 

| 5Yr:

+47%

The market drifted higher today ahead of the US midterm elections tomorrow.

A Republican win of the House and/or Senate tomorrow would mean gridlock in Washington

. Investors hate uncertainty, and gridlock is predictable.

The jobs report on Friday indicated a resilient economy.

The Labor Department reported employment increased by 261,000 last month, the fewest since December 2020, but more than economists expected. The unemployment rate inched up to 3.7% as more people dropped out of the workforce.

Natural gas prices are surging in response to reports of an intense cold front

hitting much of the US this week. The unseasonably warm temperatures on the east coast could give way to freezing temperatures, according to Natural Gas Intelligence.

Company Scoops ❤🌎💰

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

Wells Fargo

-

BlackRock

-

Apple's

-

Meta Platform

-

Berkshire Hathaway

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

🤓 Inside Scoop...

Shareholders

have the power to pressure corporate executives to change policy through

proxy voting

. If you're a direct shareholder, you can vote on corporate governance decisions, weighing in on executive pay, mergers, and other strategic changes. Any investor with at least $2,000 of value in a public company can also submit their own proposal for other shareholders to vote on. Typically, these proposals are non-binding, acting more as suggestions to the company that it takes under consideration. You usually only get to vote when you own direct shares. If you own a fund, your vote goes to the fund's asset manager, like BlackRock or Vanguard. Those financial institutions tend to be deciding factors in these voting processes.

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