Scoops
Posts
Daily Scoop 22-2-2

Daily Scoop 22-2-2

👋 Your Tuesday Scoops - Big Tech profits & Exxon's low carbon

February 02, 2022

View this email in your browser

Today's Scoop:Momentum

Big Picture

People started losing their jobs again in January.
Inflation is eating into corporate profits.
The US is deep in debt.

The Market

⬆️

+0.9%

S&P 500: 4,589.38

1Mo:

-4%

| 1Yr:

+20%

| 5Yr:

+100%

Markets continued the positivity today, as investors have trended more optimistic about the economy due to continued reports of

strong corporate profits

, despite trouble in the labor market.

Payroll services company ADP released its January private employment survey indicating a 301,000-person drop in employment,

the first month of job losses since 2020

. Economists expected the economy to gain more than 200,000 new jobs. The most significant declines were in the leisure and hospitality sectors.

According to the Treasury Department,

the US National Debt has ballooned to $30 trillion

. Is that a problem? No one knows yet. Some economists are worried, but some are not. In theory, just like with your mortgage, you can live with debt for a long time as long as you make the payments.

Company Scoops ❤🌎💰

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

Google

flexes its advertising dominance

AMC's

getting people back in theaters

Exxon

has a new vision

Starbucks

employees are taking their share

PayPal's

growth slows

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

🤓 Inside Scoop...

The US National Debt refers to how much the Treasury has borrowed to finance government spending. The government has been consistently spending more money than it takes in from tax revenue and borrowing the difference from other countries and investors.