Daily Scoop 22-7-21

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Today's Scoop:Momentum

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Big Picture

1. Layoffs continue to climb.

2. Corporate financial updates have been better than feared.

3. Europe is raising interest rates.

The Market: 

⬆️

+1.0%

S&P 500: 3,998.95

1Mo:

+6%

| 1Yr:

-8%

| 5Yr: 

+62%

Markets continued upward today as investors found optimism in the

better-than-feared corporate financial reports.

Nearly 80% of the S&P 500 companies that have reported so far have announced higher profits than investors expected.

Layoffs have continued to climb each week

. The Labor Department reported initial jobless claims of 251,000, significantly higher than economists expected. The weekly layoff rate has now risen above the average pre-pandemic trend level of a healthy jobs market. 

The European Central Bank raised interest rates

today for the first time in 11 years to combat record levels of inflation. Like the US Central Bank, it's raising interest rates

to make borrowing more expensive and slow spending

. With less demand, there's less pressure to raise prices, leading to slower inflation. It's what's happening now in the housing market - higher mortgage rates make people reconsider buying homes, slowing demand and cooling the climb in prices.

Company Scoops ❤🌎💰

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

Lyft

cancels on employees, offices, and car rentals

-

American Airlines

approaches profit without gov't support

- 

United Airlines

hikes prices into profitability

- 

Tesla

hits a few roadblocks

- 

Amazon

buys One Medical

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

🤓 Inside Scoop...

Mergers

and

acquisitions

are a core component of corporate expansion and development. When a company wants to expand into a new market or absorb new resources that another company has, they'll typically hire an

investment bank

(like a company broker) to help identify, value, and negotiate a deal with the target company. The acquiring company may take on debt to fund the deal, trade its stock, or use its cash reserves. The acquisition can be an

all-cash deal

, where shareholders receive cash in their brokerage accounts, or an

all-stock deal

, where your shares of Company X turn into some amount of shares of Company Y, or some mixed combination of the two.

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