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- Daily Scoop 22-12-1
Daily Scoop 22-12-1
👋 Your Thursday Scoops - H&M shakes things up & TSMC upgrades America
Today's Scoop:Mixed
New apparel designs are moving fast!
.
Big Picture
Prices aren't rising as quickly anymore.
Consumers are spending again.
People are saving less.
The Market:
⬇️
-0.1%
S&P 500: 4,076.571Mo: +8% | 1Yr: -11% | 5Yr: +54%
The market didn't do much today in anticipation of tomorrow's important November jobs report.
More data today indicated in October,
people spent more and saved less, while inflation cooled
. The Commerce Department's personal consumption expenditures price index, policymakers' key gauge for inflation, showed prices rose only 0.3% in October, up 6% from a year ago. That much of an increase in twelve months isn't normal, but things aren't getting as expensive as quickly as they were at the start of the year.
Despite policymakers' efforts to cool the economy, shoppers still came out in full force.
Personal spending jumped by the most since the start of the year,
even when adjusting for the higher prices.
That higher spending came at the cost of people's savings.
The personal saving rate fell to the lowest since 2005.
Company Scoops ❤🌎💰
(Click to dig in & vote your reaction, see how others feel)
H&M
-
DoorDash
-
Salesforce
-
Snowflake
-
TSMC
(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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