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- Daily Scoop 22-5-31
Daily Scoop 22-5-31
👋 Your Tuesday Scoops - McDonald's keeps pigs in crates & Taco Bell drag brunch
Today's Scoop:Floating
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Big Picture
Consumers haven't stopped spending.
We may be past the peak of inflation.
China lockdowns are easing.
The Market:
⬇️
-0.6%
S&P 500: 4,132.15
1Mo:
-1%
| 1Yr:
-2%
| 5Yr:
+69%
Markets ended the volatile month roughly where they started after posting the biggest weekly gain in over a year last week.
The Labor Department reported on Friday that
the US consumer continued spending
last month, calming fears that rapidly-climbing prices are freezing economic activity.
The report also highlighted a slower rise in prices in April than in March, indicating that
inflation may have peaked.
The Personal Consumption Expenditures (PCE) Price Index rose just 0.2% in April, compared to 0.9% in March.
The government in
Shanghai announced that they would be lifting the two-month covid lockdown
this week. Many companies have cited disruptions to their supply chains from lockdowns in China.
Company Scoops ❤🌎💰
(Click to dig in & vote your reaction, see how others feel)
Bank of America
-
McDonald's
-
Yum!
-
Gap
-
Walmart
(These links only work for 24 hours while the story is live)
🤓 Inside Scoop...
Shareholders
have the power to pressure corporate executives to change policy through
proxy voting
. Any investor with at least $2,000 of value in a public company can submit a proposal for other shareholders to vote on. Typically, these proposals are non-binding, acting more as suggestions to the company that it takes under consideration. If you own a fund, your vote goes to the asset manager running the fund, like BlackRock or Vanguard. Those financial institutions tend to be deciding factors in these voting processes.
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