Daily Scoop 22-3-7

👋 Your Monday Scoops - Shell slammed for Russian gas purchase & new EV player

Today's Scoop:Overwhelmed

Big Picture

  1. Gas prices are soaring.

  2. The US jobs market is stronger than we thought.

  3. Consumer debt is slowing.

The Market: 

⬇️

-3.0%

S&P 500: 4,201.09

1Mo:

-7% 

| 1Yr:

+10%

| 5Yr: 

+77%

Markets slid lower today as the crisis in Ukraine continued, and investors worried about the economic fallout from rising prices for key materials like wheat and oil.

Trade concerns have pushed

oil prices to the highest point since the Financial Crisis.

According to AAA, the national average gas price crossed $4 for the first time since the record high of $4.11 in 2008.

The US jobs market is solid right now.

On Friday, the Labor Department reported 678,000 new jobs created in February, far more than the 400,000 predicted, and the unemployment rate hit 3.8%. 

The Federal Reserve reported

consumer debt growing much slower than expected

in January, with net declines in revolving debt balances like credit cards. Consumers were able to pay down credit card debt from December's spending.

Company Scoops ❤🌎💰

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

Shell

-

Netflix

Spotify

Sony & Honda

Samsung

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

🤓 Inside Scoop...

Violating sanctions can have serious consequences. Non-compliance with financial and economic sanctions can lead to heavy fines, jail time, or even criminal investigations from government agencies. Sanctions can include a wide range of economic punishment against a country, organization, or person in a region outside of the authority of the sanctioning country's law enforcement. Domestic governments enact restrictions within their own jurisdiction to disincentivize trade or other financial transactions with a particular country, region, or specific individual.

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