Daily Scoop 22-6-9

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Today's Scoop:Deflated

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Big Picture

1. Tomorrow's inflation report will be important.

2. Layoffs ticked up last week more than expected.

3. Oil prices are still very high.

The Market: 

⬇️

-2.4%

S&P 500: 4,017.82

1Mo: +1

%

| 1Yr:

-5%

| 5Yr:

+65%

Markets sank today in anticipation of the release of May's

inflation data tomorrow.

The Bureau of Labor Statistics releases the May Consumer Price Index on Friday, which will indicate how much the cost of basic consumer goods has increased. Economists expect that prices are still rising, likely 8% higher than a year ago, but

investors will be watching to see if prices are decelerating

. Everyone is

hoping that inflation has peaked.

Layoffs ticked up more than any economist expected last week.

The Labor Department reported 229,000 initial unemployment claims, a jump of 27,000 from the week before. Holiday weeks can create some noise in the numbers, but the average weekly layoff figure has been trending up.

Oil prices are really high.

Disruptions and embargoes around the war in Ukraine have continued to push prices higher.

Company Scoops ❤🌎💰

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

Lyft

makes moves into driverless cars

-

Microsoft's

Xbox is breaking up with the box

-

Nio

hits some bumpy roads

-

Southwest

invests in Sustainable Aviation Fuel

-

Etsy

makes moves to appease protesters

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

🤓 Inside Scoop...

Jet fuel

is an essential focus for

sustainability

. The aviation industry is responsible for 2-3% of global greenhouse gas emissions.

Sustainable Aviation Fuels

(SAFs) are made from sustainable waste products, like feedstocks and agricultural residues, and can reduce emissions by over 80%. Integrating more alternative aviation fuels can help airlines mitigate their environmental impacts.

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