Daily Scoop 22-5-2

👋 Your Monday Scoops - Big Oil profits & Robinhood pains

Today's Scoop:Bounce

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Big Picture

  1. April was the worst month for markets in a while.

  2. Homes are not affordable right now.

  3. Corporate profits are fine.

The Market: 

⬆️

+0.6%

S&P 500: 4,155.38

1Mo:

-9%

| 1Yr:

-1%

| 5Yr:

+73%

Markets limped into May, recovering a bit from t

he worst month since March 2020

. S&P 500 companies lost nine percent of their value in April as investors lost confidence in their profit potential.

High mortgage rates have made homes unaffordable

in most cities. Mortgage News Daily reported the average 30-year fixed-rate mortgage reached 5.55% this week. It now takes a third of the median American's income to cover the monthly mortgage payment, including principal and interest, for a home purchased with a 20% down payment.

It's the least-affordable real estate market since record levels in 2006.

Corporate profits are solid, but supply chain issues are still a concern.

We're past halfway through the earnings season. So far, 80% of companies have reported more robust profits than investors expected.

Company Scoops ❤🌎💰

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

Chevron

-

Exxon Mobil's

-

Robinhood

-

Amazon

-

Apple's

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

🤓 Inside Scoop...

Earnings reports

are our chance to take a look under the hood of every public company. It's what investors call the quarterly financial updates from public companies. Don't get too caught up on quarter-by-quarter performance. Just use the information to form your opinion on the company's future.

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