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- Daily Scoop 22-7-19
Daily Scoop 22-7-19
👋 Your Tuesday Scoops - McDonald's mutiny & Apple cools growth
Today's Scoop:Launch
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Big Picture
Corporate profits have been better than feared so far.
Investors are more pessimistic than they've ever been.
Home construction has slowed as homes grow less affordable.
The Market:
⬆️
+2.8%
S&P 500: 3,936.69
1Mo:
+5%
| 1Yr:
-9%
| 5Yr:
+59%
Markets took off today as investors started talking about a bottom.
Corporate financial reports have been solid.
We're roughly 10% into earnings season, and about two-thirds of companies have reported better profits than investors expected.
Investors are feeling extremely pessimistic right now
. Bank of America's July Fund Manager Survey, which polls 259 investors managing $722 billion of assets, reported expectations for global growth and corporate profits at all-time lows. Investors are sitting on the most cash ever, with stock market allocations lower than in the middle of the 2008 Financial Crisis. So any news that's better than awful could keep the rally going.
The housing market continues to struggle.
The Commerce Department reported new home construction fell in June to the lowest since September after plunging in May.
High mortgage rates and record home prices have crushed home buyer demand.
Company Scoops ❤🌎💰
(Click to dig in & vote your reaction, see how others feel)
McDonald's
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Uber
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Amazon
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Hasbro
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Apple
(These links only work for 24 hours while the story is live)
🤓 Inside Scoop...
Earnings reports
are our chance to take a look under the hood of every public company. It's what investors call the quarterly financial updates from public companies. Earnings is another name for profit. Don't get too caught up on quarter-by-quarter performance. Just use the information to form your opinion on the company's future.
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