Daily Scoop 22-5-23

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Today's Scoop:Bounce

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Big Picture

1. Global policymakers are worried about growth.

2. President Biden is considering removing tariffs on Chinese goods.

3. The stock market is down a lot from its recent peak.

The Market: 

⬆️

+1.9%

S&P 500: 3,973.75

1Mo:

-8% 

| 1Yr:

-5%

| 5Yr: 

+65%

Markets started the week on a positive note after briefly touching "bear market" status on Friday. When markets fall more than 20% from their peak, investors call that a "bear market" to signify a

period of pessimism

. Bullish = optimistic and bearish = pessimistic. 

President Biden said today he is

considering removing the tariffs on Chinese trade to cool inflation.

Removing the extra taxes businesses have to pay on goods they import from China would help ease the pressure for companies to hike their prices.

The International Monetary Fund (IMF) issued a statement this weekend calling for global geopolitical cooperation,

warning of the negative impacts of disrupting international trade on economic growth.

They said the world faces a potential "confluence of calamities."

Company Scoops ❤🌎💰

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

JM Smuckers

issues a massive peanut butter recall

-

Pfizer & BioNTech's

covid vaccine works for kids under 5

- 

Apple

looks to break up with China

- 

Kohl's

looks for an exit door

- 

BP

brings more carbon capture to Texas

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

🤓 Inside Scoop...

Carbon capture

is one of the most commonly-cited solutions for reducing carbon emissions by the fossil fuel and industrial production sectors. While still relatively unproven, the technology pulls 

greenhouse gases (GHG)

directly out of the air to store in the ground or be used for other purposes. The projects are large, expensive, and take years to implement. They also need to be implemented directly at the point of emissions creation. So we depend on the big emissions producers to fund, implement, and report the efficacy of the projects. We've

pointed out before

that these projects can often release other GHG emissions in the process, and the byproducts often get repurposed for fossil fuel production. While the technology is promising, it will be essential to watch the details of these projects for signs of anything more than greenwashing for fossil fuel companies.

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