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- Daily Scoop 22-3-9
Daily Scoop 22-3-9
👋 Your Wednesday Scoops - McDonald's, Starbucks, & Pepsi break silence
Today's Scoop:Relief
Big Picture
There are a lot of open jobs.
Oil prices are high.
President Biden has an encouraging plan for crypto.
The Market:
⬆️
+2.6%
S&P 500: 4,277.88
1Mo:
-5%
| 1Yr:
+10%
| 5Yr:
+80%
Markets had their
best day in almost two years
, recovering a little from the beating of the last couple of weeks.
Prices for commodities like oil, nickel, and wheat fell a little today after days of surging higher and hitting record levels.
Gas at the pump is more expensive than it's ever been.
The US jobs market is looking really strong.
The Labor Department reported today that there are 5 million more job openings than unemployed Americans. The unemployment rate is low. Fewer people are quitting their jobs.
Cryptocurrency prices surged today after President Biden signed an executive order
that outlined government policy towards the new assets. It read like they are looking into it and will take a measured approach, so
no surprises or big clamp-downs ahead.
Company Scoops ❤🌎💰
(Click to dig in & vote your reaction, see how others feel)
Pepsi
-
McDonald's
-
Starbucks
-
Bumble's
-
(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, it creates more money and lowers interest rates to incentivize more lending and spending. When inflation gets too high, that means there's too much lending and spending for the given available resources. The Fed then raises interest rates and starts to shut down all the supportive stimulus measures. It's a natural part of the economic cycle. Still, there's a risk that inflation spikes because of some kind of disruption (like sanctions against Russia), and not because of the economy recovering. Then, investors worry that the Fed will have to restrict the economy before it actually recovers.
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