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Daily Scoop 22-3-1

Daily Scoop 22-3-1

👋 Your Tuesday Scoops - Shell dumps Russia but WeWork stays

March 01, 2022

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Today's Scoop:Gloomy

Big Picture

Ukrainian allies are attacking Russia's economy.
Wheat and oil prices are surging.
US businesses were recovering in January.

The Market:

⬇️

-1.6%

S&P 500: 4,306.26

1Mo:

-6%

| 1Yr:

+11%

| 5Yr:

+81%

Markets continued drifting downward today on news of Russian advances toward the Ukrainian capital.

Intense economic sanctions against Russia

have limited its international trading, financing, and business activity.

The trade disruptions have pushed

prices for commodities like wheat and oil to new highs

. Wheat prices hit their highest level in over a decade. Russia is the world's largest wheat exporter, and Ukraine ranks in the top four.

US economic indicators for January have been stronger than expected

. The Commerce Department reported surging construction spending, and the monthly survey from the Institute for Supply Management (ISM) reported more robust demand and greater optimism in the manufacturing sector.

Company Scoops ❤🌎💰

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

Airbnb

finds homes for refugees

Shell

breaks up with Russia

WeWork's

keeping business in Moscow

Twitter

steps up content restrictions

Zoom

keeps slowing

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

🤓 Inside Scoop...

"Sanction" is a sort of catch-all term for some kind of economic punishment against a country, organization, or person in a region outside of the jurisdiction of the sanctioning country's law enforcement. Sanctions are designed to restrict the economic activity of the target. A nation like the US can order sanctions that restrict trade or other financial transactions with a particular country, region, or specific individual. Sanctions can also include asset seizures or freezes, where a country like the US could block a foreign country's access to its cash stored in the US.