Daily Scoop 22-7-6

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Today's Scoop:Floating

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Big Picture

1. Fewer people are quitting their jobs.

2. There are plenty of job openings.

3. The services sector is slowing but still growing.

The Market: 

⬆️

+0.4%

S&P 500: 3,845.08

1Mo:

-8%

| 1Yr:

-12%

| 5Yr:

+59%

Markets continue to waver as investors try to make sense of mixed economic data. Minutes from the Federal Reserve's last meeting confirmed that

policymakers are willing to slow the economy as much as necessary to get inflation under control.

There are

plenty of available jobs, but the Great Resignation has slowed.

The Labor Department's May Job Openings and Labor Turnover Survey (JOLTS) showed more than 11 million job openings, nearly two available positions for every unemployed American. The report also showed that the number of people leaving their jobs is still high, but down from the record rates earlier in the year.

The services sector looks to be holding firm

. The Institute for Supply Management services survey indicated a slight slowdown in activity, but

growth in June was more robust than economists expected.

Company Scoops ❤🌎💰

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

Google

starts scrubbing abortion data

-

Amazon

adds Grubhub to the Prime empire

-

Yum! Brands'

KFC & Pizza Hut exit Russia

-

Tesla

hits a huge slowdown

-

United Airlines

gives pilots a big raise

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

🤓 Inside Scoop...

When providing their financial reports, aka

earnings reports

, companies might break away from the basic terms like

revenue

or

sales

, using words like

bookings

or

deliveries

. Companies use a standard set of

accounting

rules, but if those don't capture a unique business model accurately, companies can highlight their own supplemental metrics. Companies will often provide alternative metrics when they recognize a sale's revenue at a different time than the customer payment. For instance, Tesla reports the revenue from the sale of a car in its financial statement once the vehicle is delivered, even though the customer may have ordered and paid for the car much earlier. Unlike other automakers who build cars and sell their inventory, Tesla makes cars to order.

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