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  • Daily Scoop 22-6-16

Daily Scoop 22-6-16

👋 Your Thursday Scoops - Abbott baby food crisis extended & Twitter cancels Disney

Today's Scoop:Frazzled

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Big Picture

  1. Fewer people got laid off last week.

  2. Home construction is slowing.

  3. Consumer confidence is low.

The Market: 

⬇️

-3.3%

S&P 500: 3,666.77

1Mo:

-10% 

| 1Yr:

-13%

 

| 5Yr: 

+50%

Markets reversed yesterday's gains after deciding the Federal Reserve's policy update wasn't enough to inspire confidence in the economy. Investors worry the Fed can't calm inflation without sending the economy into recession. There are a lot of

mixed messages in the economic data.

Layoffs have been trending higher but declined last week.

The Labor Department reported initial unemployment claims of 229,000 - higher than the record lows earlier this year but still at very low levels.

Home construction is slowing.

 The Commerce Department reported that new home construction starts dropped more than 14% from April, the steepest decline in activity over two years. Higher materials prices and slowing homebuyer demand have affected builder sentiment.

The University of Michigan's index of

consumer confidence hit a record low

this week as inflation weighed on budgets. 

Company Scoops ❤🌎💰

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

Abbott's

-

Alphabet's

Twitter

BP

Ford

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

🤓 Inside Scoop...

Green hydrogen

, also called

renewable hydrogen

, is one of the most exciting alternatives to fossil fuels for energy production. Hydrogen, a colorless gas, is the most abundant element in the universe. It can be cleanly burned in place of natural gas or converted into

fuel cells

used like batteries for electric vehicles. The fuel cells react with oxygen to produce energy, with water as the only byproduct. Producing the gas requires electricity to split water (H2O) into hydrogen and oxygen atoms, called

electrolysis

. When hydrogen producers source that electricity from renewable energy, the entire process is emission-free. Currently, producing green hydrogen is expensive, but it presents a massive opportunity for

sustainable energy.

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