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- Daily Scoop 22-12-22
Daily Scoop 22-12-22
👋 Your Thursday Scoops - JPMorgan cuts client emissions & Hertz under investigation
Today's Scoop:Uncertain
This will be our last email for the year.
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We'll be back on January 2nd with many more updates!
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Happy holidays!
Big Picture
The jobs market is still strong.
Avocado prices are coming down.
Economists are predicting a recession in 2023.
The Market:
⬇️
-1.5%
S&P 500: 3,822.39
1Mo:
-5%
| 1Yr:
-19%
| 5Yr:
+43%
The market slumped lower today as investors grappled with mixed economic data.
The jobs market still looks solid, which is both good and bad
. The Labor Department reported fewer layoffs last week than economists expected. Jobless claims are still at pre-crisis averages. While that's good, policymakers are raising interest rates to slow the economy to fight inflation. They want fewer job openings and more layoffs, and policy takes time to take full effect.
A strong jobs market might lead to more economic restrictions that push us into a deeper recession.
Prices are coming down
, though. November's inflation report showed living costs rising at low, typical rates again. Today, Mission Produce said avocado prices fell 10% in November. Carmax said used car prices are down significantly.
The economy is definitely slowing.
The Conference Board's Leading Economic Index warned of a recession next year. The big question investors are grappling with is,
will policymakers see inflation fall enough that they stop restricting the economy before their restrictions push us into recession?
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Company Scoops ❤🌎💰
(Click to dig in & vote your reaction, see how others feel)
Tesla
-
Under Armour
-
JPMorgan
[🤓]
-
Honeywell
-
Hertz
(These links only work for 24 hours while the story is live)
🤓 Inside Scoop...
Many carbon-intensive industries like energy, power, and industrials have started promising to decrease their
carbon intensity.
This is not a pledge to reduce the total amount of greenhouse gases their companies emit into the atmosphere, but instead the amount of
emissions
per unit of production.
So if an oil company uses carbon capture to offset 10% of emissions per refinery, it reduces the carbon intensity per plant. But if it decides to open more refineries and pump more oil, it might still be increasing its total absolute emissions of
greenhouse gases
into the atmosphere each year.
Critics say it's an essential first step in
decarbonizing
heavy industries, but it might be less progress than it sounds.
Agree with these rankings?
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