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  • Daily Scoop 22-3-24

Daily Scoop 22-3-24

👋 Your Thursday Scoops - Uber adds taxis & Target goes net-zero

Today's Scoop:Cruising

Big Picture

  1. Layoffs are at the lowest level in over 50 years.

  2. Workers are pushing for unions across the country.

  3. Interest rates are rising.

The Market: 

⬆️

+1.4%

S&P 500: 4,520.16

1Mo: +3

%

 

| 1Yr:

+16%

| 5Yr:

+92%

Markets bounced back a bit today after a positive update on the jobs market.

Layoffs fell to their lowest level in over 50 years,

with the Labor Department reporting only 187,000 initial unemployment claims last week.

The Federal Reserve began returning

interest rates to a normal level

last week. It hopes to make borrowing slightly harder and slow down economic activity that's pressuring prices higher. Higher interest rates have already slowed down mortgage applications.

Company Scoops ❤🌎💰

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

Uber

-

Amazon

-

Porsche

-

Target

-

BP

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

🤓 Inside Scoop...

Inflation

measures how quickly the same goods are costing more dollars. Things typically get more expensive over time. Your dollars lose

purchasing power

. A bottle of coke is no longer 25 cents. That's part of a normal economy. Prices rise. Trying to keep all prices the same forever would be like stopping the wind from blowing. Normal inflation is around 2% each year. It gets to be a problem when that depreciation rate gets really high. Right now, things are getting more expensive very quickly. So if your wages aren't increasing by the same amount, you're essentially making less real money. Investing is one of the only ways to beat inflation long term. We have to hold our value in assets that appreciate.

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