Daily Scoop 22-3-10

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Today's Scoop:Relief

Big Picture

1. Inflation is at a 40-year high.

2. More people got laid off last week than expected.

3. Food, energy, and shelter costs are climbing.

The Market: 

⬇️

-0.4%

S&P 500: 4,259.52

1Mo:

-4%

| 1Yr:

+8%

| 5Yr:

+79%

Markets wavered today as investors worried about the long-term effects of the crisis in Ukraine. Negotiations between Russia & Ukraine made little progress.

The Bureau of Labor Statistics' February inflation report came in a little higher than expected, showing consumer prices rising 0.8% from January and 7.9% over the past twelve months, the

fastest inflation rate in four decades

.

Energy, food, and shelter are getting expensive

. Gas prices rose 6.6% in a month, the biggest contributor to February's surge. Food costs jumped 1% in a single month, and rent prices rose 0.6%.

The Labor Department reported an u

ptick in layoffs last week

, as initial unemployment claims hit 227,000.

Company Scoops ❤🌎💰

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

Goldman

cuts ties with Russia

-

Citi

sticks with Russian business

-

Disney

accused of LGBTQ censorship

-

Tesla's

paid war leave

-

Amazon's

stock split & buyback

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

🤓 Inside Scoop...

A

stock split

is when a company breaks its ownership into more pieces. It's totally cosmetic but gets people talking about the stock. Where you owned one share, you now might own twenty. But the value does not change. If you owned one $2,000 share, but now you own twenty $100 shares, you still own $2,000 of the company, which equates to some percentage ownership. As the company grows, your slice grows. It doesn't matter whether your percentage includes two shares or 13.562 shares. Some might say reducing the price makes it more affordable for investors with less money, but remember, fractional shares exist. You can buy any stock for any amount. Also, most people for whom that price/share amount would matter are investing through funds anyways. Smaller share prices do give the company more flexibility if they're paying employees in stock, though.

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