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Daily Scoop 22-1-18

Daily Scoop 22-1-18

👋 Your Tuesday Scoops - Coinbase shuts it down & Activision cleans house

January 18, 2022

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Today's Scoop:Concern

Big Picture

Consumers are feeling less optimistic about the economy.
Businesses are still feeling the pressure from omicron.
Retail shopping declined in December.

The Market

⬇️

-1.8%

S&P 500: 4,577.11

1Mo:

+1%

| 1Yr:

+21%

| 5Yr:

+102%

Markets kicked off the shorter week with a negative attitude.

Investors are backing out of riskier growth stocks

as they prepare for less stimulus. We're also seeing

signs of slowing growth and negative feelings

from both consumers and businesses. University of Michigan's

Consumer Sentiment Index fell 2.5%

in January to one of the lowest readings in more than a decade. The NY Federal Reserve's Empire State Manufacturing Index showed a

steep decline in business sentiment

from increased delivery delays and unfilled orders. The Commerce Department announced retail sales numbers fell nearly 2% in December, far worse than expected,

as shopping slowed

Company Scoops ❤🌎💰

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

Activision

cleans house over toxic culture

Coinbase

is shutting down for 4 weeks

JPMorgan

made its most money ever

Wells Fargo

is on the upswing

Citi

is changing its strategy

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

🤓 Inside Scoop...

Public companies are required to report on their financial health every quarter. We get a look at their sales, expenses, and profits (aka earnings). The few weeks after the end of the quarter when most companies give their reports is called "earnings season."