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- Daily Scoop 22-3-30
Daily Scoop 22-3-30
👋 Your Wednesday Scoops - Facebook smears TikTok & Walmart cuts cigarettes
Today's Scoop:Stumble
Big Picture
Companies hired more people last month than expected.
Way fewer people are taking out mortgages
Investors worry about higher interest rates stunting economic growth.
The Market:
⬇️
-0.6%
S&P 500: 4,602.45
1Mo: +7
%
| 1Yr:
+16%
| 5Yr:
+95%
Markets paused their recovery today as investors started
worrying about rising interest rates eating into economic growth.
Last week, the Federal Reserve Chairman hinted at a willingness to raise interest rates back to normal quickly. The hint of rising rates sent rates higher. At some point, loans get too expensive and start slowing economic activity.
Mortgage applications are already falling as rates hit their highest levels in years.
The Mortgage Bankers Association reported home purchase mortgage volumes down 10% and refinancings down 60% from last year.
The jobs market is stronger than expected, though
. ADP reported private companies hired 455,00 people last month.
Company Scoops ❤🌎💰
(Click to dig in & vote your reaction, see how others feel)
Facebook's
-
Walmart's
-
Lululemon's
-
Shopify's
-
Robinhood's
(These links only work for 24 hours while the story is live)
🤓 Inside Scoop...
Official open
trading hours
for the stock market are 9:30 am to 4:00 pm EST. New electronic trading networks allow investors to trade outside of
market hours
now, as early as 4:00 am EST and as late as 8:00 pm EST.
Trading in extended hours is much riskier.
Because far fewer trades are happening outside of market hours, trading starts to feel less like an automatic execution and much more like a real market of buyers and sellers. There's a much
lower volume
of trades, making trading
less liquid
, meaning you might not be able to find a buyer at the price you want to sell. You might not be able to find a buyer at all. Most buyers and sellers will also likely be big institutional players, ready to take advantage of newbies. Be careful trading in extended hours.
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