Daily Scoop 22-4-18

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Today's Scoop:Uncertain

Big Picture

1. Mortgage rates are at multi-year highs.

2. Builders are getting worried.

3. Corporations have started reporting solid profits.

The Market: 

⬇️

-0.02%

S&P 500: 4,391.69

1Mo:

-2%

| 1Yr:

+5%

| 5Yr:

+87%

Markets wobbled around today as investors waited for more data insights into whether rising prices and interest rates have started affecting corporate profits.

So far,

corporations have been surprising to the upside

. We're about 8% through first-quarter financial reports, and 82% of corporations have reported

higher profits than investors expected.

Higher mortgage rates are starting to affect confidence, though.

The Mortgage Bankers Association reported last week that the average 30-year mortgage rate is over 5% for the first time since 2018.

The National Association of

Home Builders reported a slight decline in confidence

as home builders continue to worry about higher supply costs and rising mortgage rates.

Company Scoops ❤🌎💰

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

General Mills'

Lucky Charms might be making people sick

-

Goldman's

investing in diversity through HBCUs

-

Toyota

flexes on the electric vehicle competition

-

Salesforce

invests in blue carbon

-

JPMorgan's

building a net-zero skyscraper

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

🤓 Inside Scoop...

Blue Carbon

refers to the carbon dioxide captured by the ocean and aquatic ecosystems. Its an increasingly important component of

carbon reduction strategies

. An acre of mangrove forests, salt marsh, or seagrass beds can

absorb 10x the amount of carbon

that an acre of tropical rain forest can. Unfortunately, coastal development and rising sea levels have been eating away at these ecosystems. Governments, businesses, and environmental protection groups are working to create a Blue Carbon credit marketplace that will help direct capital towards protecting, restoring, and expanding these natural spaces.

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