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- Daily Scoop 22-4-28
Daily Scoop 22-4-28
👋 Your Thursday Scoops - Lilly's obesity cure & Meta's new reality
Today's Scoop:Shocked
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Big Picture
The US economy shrank last quarter.
We're importing a lot more than we're exporting.
Another country adopted bitcoin as legal currency.
The Market:
⬆️
+2.5%
S&P 500: 4,287.50
1Mo:
-7%
| 1Yr:
+2%
| 5Yr:
+79%
Markets snapped back from a downward trend today after a mix of encouraging corporate financial updates.
Investors ignored the surprisingly-negative US Gross Domestic Product (GDP) release, indicating
the economy contracted last quarter.
The US economy essentially produced less stuff in the first quarter than last year. It usually produces more.
Consumer spending, the most significant part of GDP, continued growing,
despite higher prices, escalating covid infections, and higher interest rates.
The significant drags came from lower defense spending and a wider trade deficit. W
e imported a lot more than we exported
as businesses tried to restock shelves and catch up with demand.
The Central African Republic became
the second country after El Salvador to adopt bitcoin as official legal currency.
The CAR is one of the world's poorest and least-developed nations, with only 11% internet coverage. So it's uncertain how this will affect the economy or bitcoin.
Company Scoops ❤🌎💰
(Click to dig in & vote your reaction, see how others feel)
Meta's
-
Eli Lilly
-
Bank of America's
-
McDonald's
-
Caterpillar
(These links only work for 24 hours while the story is live)
🤓 Inside Scoop...
Contrary to popular belief, more than
90% of plastic in the US won't get recycled
. For consumers, recycling ends at disposal, but many factors determine if and how recycling can occur. Plastic can only be recycled if it can be melted and reformed into a new object. These materials are known as thermoplastics. Water bottles are very easy to recycle as they are 100% thermoplastic, but even this has its limitations. For example, a park bench made from recycled water bottles cannot be recycled a second time and still ends up in the landfill.
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