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- Daily Scoop 22-6-23
Daily Scoop 22-6-23
👋 Your Thursday Scoops - American airport closures & JPMorgan layoffs
Today's Scoop:Stalled
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Big Picture
Fewer people were laid off last week.
Policymakers are focused on bringing down inflation.
Airline staffing shortages are becoming a big problem.
The Market:
⬆️
+1.0%
S&P 500: 3,795.73
1Mo:
-4%
| 1Yr:
-11%
| 5Yr:
+57%
Markets continued drifting today as investors wait for more economic data to break the uncertainty. Wall Street is
increasingly forecasting a recession
that we might already be in the middle of.
The Central Bank Chairman testified in front of Congress for the second day today and maintained a consistent message. Their primary
focus is bringing down inflation
. The Federal Reserve will keep
raising interest rates
to slow down borrowing and spending, decreasing demand, until they see prices stop rising so quickly.
Layoffs declined again last week
to 229,000, but weekly initial unemployment
claims have been inching upwards
over the past several weeks. Unemployment is still near record lows.
Company Scoops ❤🌎💰
(Click to dig in & vote your reaction, see how others feel)
Darden
-
JPMorgan
-
Amazon's
-
American Airlines
-
Shopify
(These links only work for 24 hours while the story is live)
🤓 Inside Scoop...
Companies with extra cash can
reward shareholders
for their support in two main ways. First, they can distribute money directly out to investors, literally giving them a share of the profits by paying them a
dividend
. Companies will declare that every investor gets $X for each share they own. Second, companies can buy back their own shares from public investors.
Buybacks
allow companies to reduce the number of outstanding shares in the market, making each remaining share more valuable. They're slicing their company ownership into fewer pieces, making each shareholder own more of the company.
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