Daily Scoop 22-6-1

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Today's Scoop:Shaky

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Big Picture

1. There are plenty of available jobs.

2. Gas prices are back at record highs.

3. Mortgage applications have slowed significantly.

The Market: 

⬇️

-0.8%

S&P 500: 4,101.23

1Mo:

-1%

| 1Yr:

-3%

| 5Yr:

+68%

Markets wobbled lower today as investors continued wondering where the economy is headed.

The Labor Department's Job Openings and Labor Turnover Survey reported a steep decline in job openings in April, indicating some relief for employers as vacancies got filled. It's only a step down from record levels. There are

nearly two available jobs for every unemployed person

in America.

Gas prices are back at record levels.

Travel company AAA reported the national average price per gallon of $4.67, driven by a resurgence in oil prices as the European conflict with Russia escalates.

The Mortgage Bankers Association (MBA) reported a

continued decline in mortgage applications

. Rates on a 30-year mortgage have climbed to 5.5%, and average

home prices have reached all-time highs

.

Company Scoops ❤🌎💰

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

PepsiCo's

Gatorade breaks up with the NHL

-

Target

keeps its promise to support Black-owned businesses

-

Apple

issues emergency pay raises

-

Salesforce

says what recession?

-

Victoria's Secret

sales slump

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

🤓 Inside Scoop...

Earnings reports

are our chance to take a look under the hood of every public company. It's what investors call the quarterly financial updates from public companies. Don't get too caught up on quarter-by-quarter performance. Just use the information to form your opinion on the company's future.

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