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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

  1. Consumers haven't stopped spending.

  2. We may be past the peak of inflation.

  3. 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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