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- Daily Scoop 22-6-7
Daily Scoop 22-6-7
👋 Your Tuesday Scoops - Chipotle diversity bonuses & Peloton shakeup continues
Today's Scoop:Floating
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Big Picture
Americans are charging record amounts to their credit cards.
The World Bank lost some optimism about global economic growth.
The US trade deficit declined in April.
The Market:
⬆️
+1.0%
S&P 500: 4,160.68
1Mo: +4
%
| 1Yr:
-2%
| 5Yr:
+71%
Markets drifted upwards today as investors digested more news about the US consumer. It seems that spending is shifting to different goods or services but not stopping.
Consumers added more to their credit cards in April than ever before.
Today, the Federal Reserve reported consumer debt balances surged in April, but not as much as in March. Revolving credit balances, which mostly means credit cards, rose to record levels. The report doesn't measure whether these balances are accruing interest or just indicating a shift toward credit card payment usage.
The World Bank lowered its economic growth forecasts for 2022
to 2.9% from 4.1% in January, concerned about the continued trade disruptions from the war in Ukraine and lockdowns in China. It expects continued high inflation and low economic growth.
The US trade deficit improved in April, meaning
the country increased its exports and decreased its imports
.
Company Scoops ❤🌎💰
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Target
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Ford
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Chipotle
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Peloton
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🤓 Inside Scoop...
The talk of the town these days is the
bear market
.
Bears
and
bulls
are Wall Street's favorite animals.
Bearish
means pessimistic.
Bullish
means optimistic. Someone can be bearish on a stock while another investor can be bullish. When CNBC talks about being in a bear market right now, it means that we're in a prolonged period of pessimism, usually marked by a market decline of more than 20% from the recent peak. People will keep talking about a bear market until the market recovers its losses.
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