Daily Scoop 22-4-5

👋 Your Tuesday Scoops - Amazon's control tactics & Hertz goes electric

Today's Scoop:Nervous

Big Picture

  1. Policymakers are focused on calming inflation.

  2. Mortgage rates are the highest in a decade.

  3. The jobs market is strong.

The Market: 

⬇️

-1.3%

S&P 500: 4,525.12

1Mo: +8

%

 

| 1Yr:

+11%

| 5Yr:

+92%

Markets stumbled today as investors worried about the Federal Reserve raising interest rates too quickly and slowing the economy into recession.

Two policymakers today commented about the Fed's

increased concern about inflation

and the intention to

quickly raise interest rates to normal levels

from the emergency stimulus level. Higher interest rates make borrowing more expensive, slowing economic activity.

Mortgage rates are already reaching the highest levels in a decade.

The 30-year fixed-rate average crossed 5%, up from 3.4% just a year ago.

The jobs market is excellent.

On Friday, the Labor Department reported 431,000 jobs were added, and the unemployment rate dropped to 3.6% in March, back to 2019 levels.

Company Scoops ❤🌎💰

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

Amazon's

-

Airbnb

-

Twitter

-

Hertz

-

Hasbro

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

🤓 Inside Scoop...

There are three main reports people watch to understand trends in the

labor market

. The U.S. Bureau of Labor Statistics puts out the "big" monthly report highlighting the

unemployment rate

and job growth. There's also a

private-sector survey

from payroll services company ADP and the weekly initial unemployment claims (a proxy for

layoffs

) report from the Labor Department.

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