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Daily Scoop 22-1-27

Daily Scoop 22-1-27

👋 Your Thursday Scoops - Tinder safety & Amazon in high schools

January 27, 2022

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Today's Scoop:Tired

Big Picture

The economy grew faster than expected last quarter.
Fewer people were laid off last week.
Policymakers are removing the emergency economic support and returning to normal conditions this year.

The Market

⬇️

-0.5%

S&P 500: 4,328.86

1Mo:

-10%

| 1Yr:

+14%

| 5Yr:

+88%

Markets tried to rally this morning on surprisingly great economic data but faded into pessimism. Investors are still trying to figure out how they feel about the central bank's plans to cut back stimulus.

The

US economy grew faster than economists expected

last quarter, with Real GDP growing at a 6.9% annualized rate, 3x faster than the previous quarter. Overall, the US economy grew 5.7% in 2021,

the most robust growth in nearly 40 years,

driven by a recovery in consumer spending.

Initial unemployment claims, a proxy for layoffs, declined to 260,000 last week.

The recovery of consumer spending, a low unemployment rate, and high inflation reinforce the central bank's decision to

remove the pandemic-era emergency economic stimulus measures and return to normal.

Yesterday, the Federal Reserve, aka the central bank, signaled a plan to raise interest rates in March.

Company Scoops ❤🌎💰

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

Amazon's

funding a high-school feeder program

Tesla

notches record profits but sees bumps ahead

Match Group's

Tinder adds background checks

General Motors

pours more money into EV batteries

Levi Strauss

flexes its strong sales

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

🤓 Inside Scoop...

Gross Domestic Product is how we track how much stuff the economy is producing each year. The actual number (~$23 trillion) doesn't matter as much as the direction it's going. We track the GDP growth rate to know whether the economy is expanding or contracting from the previous quarter. Real GDP adjusts to take out the effects of inflation. You'll hear it quoted as an annualized number that represents how much the GDP would increase if it hypothetically grew at that rate for a full year.