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  • Daily Scoop 22-7-12

Daily Scoop 22-7-12

👋 Your Tuesday Scoops - Tampax shortage & Gap CEO change

Today's Scoop:Stalled

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Big Picture

  1. Earnings season is here.

  2. The dollar is the strongest it's been in 20 years.

  3. Small businesses are losing optimism.

The Market: 

⬇️

-0.9%

S&P 500: 3,818.80

1Mo:

+2%

 

| 1Yr:

-13%

 

| 5Yr:

+55%

Markets drifted lower today without any significant drivers. Investors are preparing for an update on inflation tomorrow and more corporate second-quarter financial updates.

Earnings season is here.

The US dollar has reached its strongest value in twenty years.

Worsening global economic conditions have increased demand for the safety of the US dollar. The euro crossed a 1:1 parity with the dollar this morning for the first time since 2002. It's usually stronger than the dollar. The US dollar index, comparing USD against a basket of other currencies, also hit its highest level since 2002. A stronger dollar makes importing and traveling cheaper but exporting more expensive. US corporations might lose business to international competitors overseas.

Small businesses are losing optimism about the economy.

The National Federation of Independent Business reported optimism dropping for the sixth straight month as companies struggled with rising supply and labor costs.

Company Scoops ❤🌎💰

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

Procter & Gamble

-

Gap

-

PepsiCo

-

Peloton

-

Rivian

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

🤓 Inside Scoop...

Public companies are required to report on their financial health every quarter. We get a look at their sales, expenses, and profits (aka

earnings

). The few weeks after the end of the quarter when most companies give their reports is called "

earnings season

," and it's an exciting time of year for CNBC and its viewers.

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