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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
Prices for basically everything are still going up.
Inflation's at the highest rate in over 40 years.
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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