Daily Scoop 22-5-3

👋 Your Tuesday Scoops - Pro-choice rideshares & Pfizer's pandemic payout

Today's Scoop:Waiting

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Big Picture

  1. A record number of people quit their jobs in March.

  2. There are more job openings than ever.

  3. Economic policymakers reveal their next move tomorrow.

The Market: 

⬆️

+0.5%

S&P 500: 4,175.48

1Mo:

-9% 

| 1Yr:

+1%

| 5Yr: 

+74%

Markets shuffled around today in anticipation of the Federal Reserve's next policy announcement. Policymakers meet today and tomorrow to evaluate how quickly they want t

o roll back the emergency economic support measures.

The jobs market is solid right now.

There are nearly two jobs available for every unemployed person.

The Labor Department reported

job openings hit an all-time high

in March of 11.5 million.

People are quitting their jobs at a record rate

, a sign of comfort in the labor market. 4.5 million people, 3% of employed Americans, quit their jobs in March.

Company Scoops ❤🌎💰

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

Lyft & Uber

-

Restaurant Brands'

BP

Southwest's

Pfizer's

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

🤓 Inside Scoop...

The

Federal Reserve

, aka the

Central Bank

, controls the flow of money. When the economy needs a boost, it creates more money and lowers

interest rates

to incentivize more lending and spending. When inflation gets high or the economy fully recovers, the Fed raises interest rates and starts to shut down all the supportive stimulus measures. It's a natural part of the economic cycle, but investors don't like change. They also often fear that the Fed will move too quickly, sharply cutting off growth and starting a recession. When investors get fearful, they rotate out of their riskiest positions.

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