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- Daily Scoop 22-5-26
Daily Scoop 22-5-26
👋 Your Thursday Scoops - Activision uprising & abortion data problems for Google
Today's Scoop:Momentum
The Scoop Team will take a break for the Memorial Day holiday. We'll be back with more scoops and explanations on Tuesday, May 31st.
Big Picture
More retail companies reported healthy sales.
The US economy slowed in the first quarter.
Fewer people got laid off last week.
The Market:
⬆️
+2.0%
S&P 500: 4,057.84
1Mo:
-3%
| 1Yr:
-3%
| 5Yr:
+66%
Markets continued the optimism today as more retail companies reassured investors that
the US consumer hasn't stopped consuming
. It looks like consumers are buying different things, but
higher prices have not significantly slowed spending altogether
.
The US economy struggled in the first quarter.
US Gross Domestic Product contracted by 1.5%, meaning we produced less stuff than the quarter before. Usually, the economy keeps producing more stuff each quarter, except for the first two quarters of 2020. Most economists expect a return to growth this quarter.
Fewer people were laid off last week.
The Labor Department reported initial unemployment claims declined to 210,000, slightly above record lows.
Company Scoops ❤🌎💰
(Click to dig in & vote your reaction, see how others feel)
-
Starbucks
-
Nvidia
-
Caterpillar
-
Activision Blizzard
(These links only work for 24 hours while the story is live)
🤓 Inside Scoop...
A
labor union
is an organization of workers that band together to
collectively bargain
for improvements to their working conditions, wages, and benefits. Any industry can have a union. It starts by hosting some form of
election
in the workplace to acknowledge that the workers of that unit would like to
unionize
. Then, it expands to a more formalized agreement and negotiation process. Employers can dissuade workers from unionizing, but it's illegal to threaten or coerce. That grey line in between is for the lawyers.
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