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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
Mortgage rates are at decade highs.
Home prices are at record highs.
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
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Walgreens
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Trade Desk
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Shell's
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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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