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- Daily Scoop 22-3-31
Daily Scoop 22-3-31
👋 Your Thursday Scoops - Walgreens robot pharmacists & Waymo driverless cars
👋There will be no scoops sent out on Monday. We'll be at the closing bell of the NASDAQ stock exchange! Make sure to check
for updates.
Today's Scoop:Weak
Big Picture
Prices are still rising.
Consumers are spending less.
President Biden's trying to calm gas prices.
The Market:
⬇️
-1.6%
S&P 500: 4,530.41
1Mo: +5
%
| 1Yr:
+13%
| 5Yr:
+92%
Markets faded lower today to close the month. It was the
worst quarter for the stock market since the 2020
crash
.
The newest release from the Commerce Department showed
inflation rose to 6.4%
in February. Excluding gas and food prices that are more volatile, core consumer goods are 5.4% more expensive than a year ago. That's the
fastest inflation rate in nearly 40 years.
Rising prices pressured consumers to spend less
last month. The same report showed a 0.4% decline in spending last month when adjusting for higher prices.
President Biden's releasing oil to cool gas prices
. The White House will release one million barrels of oil per day for six months, the most significant release from national reserves ever.
Company Scoops ❤🌎💰
(Click to dig in & vote your reaction, see how others feel)
Alphabet
-
Walgreens
-
Activision
-
Intel
-
CVS
(These links only work for 24 hours while the story is live)
🤓 Inside Scoop...
The
Federal Reserve
, aka the Central Bank, controls the flow of money. When the economy needs juice, they create more money and lower
interest rates
to incentivize more lending and spending. When
inflation
gets high, or the economy fully recovers, the Fed raises interest rates and starts to shut down all the supportive
stimulus measures
. It's a natural part of the economic cycle, but investors don't like change. They also often fear that the Fed will move too quickly, cutting off growth and starting a
recession
. When investors get fearful, they rotate out of their riskiest positions.
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