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- Daily Scoop 22-12-5
Daily Scoop 22-12-5
👋 Your Monday Scoops -Amazon order to back off & Rolls' clean engine breakthrough
Today's Scoop:Sinking
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Big Picture
Companies are still hiring.
Wages are rising quickly, but living costs are still high.
Business activity picked up unexpectedly last month.
The Market:
⬇️
-1.8%
S&P 500: 3,998.84
1Mo:
+5%
| 1Yr:
-13%
| 5Yr:
+51%
The market drifted lower today as investors worried about how policymakers would respond to the strong jobs report from Friday.
Companies are still hiring, and wages are rising, despite the Federal Reserve's efforts to slow things down
. On Friday, the Labor Department released the official November employment report indicating 263,000 unemployed workers found jobs, far more than economists expected. More people are working now than before the pandemic, but there are nearly two job openings for every unemployed person. The Fed is trying to slow the economy to bring that imbalance back in line to cool inflation.
Wages might start catching up to living costs.
The employment report indicated average wages increased by 0.6% in November, the most since January. Living costs are 7.7% higher than a year ago, and wages are only up 5.1%, but wages are now growing faster each month than inflation.
Business activity picked up unexpectedly in November.
The Institute for Supply Management Services Purchasing Managers' Index rose for the first time in months as supply chains cleared up.
Company Scoops ❤🌎💰
(Click to dig in & vote your reaction, see how others feel)
Amazon
-
BP
-
Rolls Royce
-
Goldman Sachs
-
Rackspace
(These links only work for 24 hours while the story is live)
🤓 Inside Scoop...
Green hydrogen
, also called renewable hydrogen, is one of the most exciting potential alternatives to fossil fuels for energy production. Hydrogen, a colorless gas, is the most abundant element in the universe. It can be cleanly burned in place of natural gas or converted into fuel cells used like batteries for electric vehicles. The fuel cells react with oxygen to produce energy, with water as the only byproduct. Producing hydrogen fuel requires electricity to split water (H2O) into hydrogen and oxygen atoms, called
electrolysis
. The entire process is emission-free when hydrogen producers power the electrolyzers with renewable energy. Currently, producing green hydrogen is expensive but presents a massive opportunity for
sustainable energy.
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