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  • Daily Scoop 22-4-20

Daily Scoop 22-4-20

👋 Your Wednesday Scoops - Walgreens' highest-paid woman CEO & Shell's EV

Today's Scoop:Bobbing

Big Picture

  1. Mortgage rates are at decade highs.

  2. Home prices are at record highs.

  3. Corporations seem to have had a better first quarter than expected.

The Market: 

⬇️

-0.1%

S&P 500: 4,459.45

1Mo:

-1%

| 1Yr:

+7%

| 5Yr:

+90%

Markets wavered today after a set of mixed updates from major corporations.

We're about 12% of the way through earnings season, and roughly 80% of companies have reported stronger profits than investors expected. It's looking like s

upply chain issues and inflation haven't yet taken a toll on corporate earnings.

Higher mortgage rates are starting to slow home purchases.

The Mortgage Bankers Association reported the average 30-year fixed-rate mortgage is over 5.2%. The National Association of Realtors said March existing home sales dropped 2.7% from February.

The NRA also noted

home prices are at record-highs due to low supply.

In March, the average home sold was $375,300, up 15% from a year ago. Less than 1 million homes are available on the market, down 10% from a year ago.

Company Scoops ❤🌎💰

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

Netflix

-

Walgreens

-

Trade Desk

-

Shell's

-

Procter & Gamble

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

🤓 Inside Scoop...

Earnings season is full of "beats" and "misses." The news reports refer to whether the company reported more or less profit/revenue/whatever for the quarter than investors expected. Wall Street Analysts make projections, and then media outlets will compare the reported financial figures to the average of the Analysts' expectations. Having a tiny bit more or less revenue or profit than the average of a range of expectations isn't typically something to worry about, especially when it's only three months of a company's lifetime. The important stuff is the extra context provided in the report and whether the company feels confident about the future.

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