Daily Scoop 22-6-21

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Today's Scoop:Energized

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Big Picture

1. Home prices are at record highs.

2. Fewer people are buying homes.

3. Cryptocurrency prices are getting hit hard.

The Market: 

⬆️

+2.5%

S&P 500: 3,764.79

1Mo:

-5% 

| 1Yr:

-11%

| 5Yr: 

+54%

Markets surged today, shaking off the worst week since June 2020. Investors returned from the long weekend with optimism, but there's still

a lot of uncertainty and mixed economic data

.

The National Association of Realtors reported the

fourth-straight month of declining home sales

. May saw the fewest home sales in nearly two years, as

rising mortgage rates and high home prices have deterred buyers

. The association reported median home prices hit a new record of $407,600, a nearly 15% rise since last year and the first time median home prices passed $400,000. 

Cautious investors have pulled back from the cryptocurrency markets

, sending the price of bitcoin as low as $17,601 over the weekend. Bitcoin has lost over 70% of its value since November.

Company Scoops ❤🌎💰

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

Disney's

"Lightyear" bundles its takeoff

-

Apple

faces a growing union movement

- 

Kroger

feels optimistic despite cost pressures

- 

Mondelez

adds Clif Bar to its snack arsenal

- 

Volvo

bets on hydrogen fuel cells

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

🤓 Inside Scoop...

A

labor union

is an organization of workers that band together to

collectively bargain

for improvements to their working conditions, wages, and benefits. Any industry can have a union. It starts by hosting some form of election in the workplace to acknowledge that the workers of that unit would like to unionize. Then, it expands to a more formalized agreement and negotiation process. Employers can dissuade workers from unionizing, but it's illegal to threaten or coerce. That grey line in between is for the lawyers. 

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