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  • Daily Scoop 22-4-12

Daily Scoop 22-4-12

👋 Your Tuesday Scoops - Etsy strike and PG&E criminal wildfires

Today's Scoop:Weak

Big Picture

  1. Prices for basically everything are still going up.

  2. Inflation's at the highest rate in over 40 years.

  3. Used car prices have started coming down.

The Market: 

⬇️

-0.3%

S&P 500: 4,397.45

1Mo: +5

%

 

| 1Yr:

+6%

| 5Yr:

+87%

Markets started the day with a bit of optimism but faded into the close.

The Labor Department reported that

inflation hit another 40-year record

in March.

Prices for basically everything consumers spend money on are rising faster than ever

, now

8.5%

more expensive than one year ago. Prices in March alone rose 1.2% from February. The

most significant increases were still in food, shelter, and energy.

Food is 8.8% more expensive than a year ago, shelter is 5%, and gasoline is 48% more expensive.

Used car prices are coming down,

though, falling 3.8% in March.

Company Scoops ❤🌎💰

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

Etsy

-

PG&E

-

Block

-

Meta's

-

TSMC's

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

🤓 Inside Scoop...

Investors can sometimes turn pessimistic about

technology

and

high-growth companies

when they're worried about

inflation

. If prices are rising and dollars are losing purchasing power, profits are also worth relatively less. When you're investing in growth companies, you're promised a share of profits further into the future. Inflation has more time to eat away at those profits.

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