Daily Scoop 22-8-1

👋 Your Monday Scoops - Exxon oil profits & Coke's plastic progress

Today's Scoop:Slow

Love your daily scoops? Support the mission by recruiting a friend and unlocking premium content!   

Big Picture

  1. Inflation is slowing consumer spending.

  2. Home prices are falling.

  3. Pandemic-disrupted supply chains might be clearing up.

The Market: 

⬇️

-0.3%

S&P 500: 4,118.63

1Mo:

+8%

 

| 1Yr:

-6%

 

| 5Yr: 

+66%

Markets wavered today after a big week of economic data. The US economy has produced less stuff for two straight quarters (formerly known as a recession). ICYMI, check out our

from Sunday.

Soaring food, rent, and fuel prices have been significantly impacting consumers.

On Friday, the Commerce Department reported that inflation-adjusted consumer spending increased at its slowest pace in two years in June.

Surging mortgage rates have started to deter home buyers.

Mortgage data firm Black Knight reported June had the slowest increase in home prices in over 50 years as buyers shrank back from the market. This is the effect the Federal Reserve wants on the broader economy - raise interest rates to make borrowing more expensive, slowing demand and easing inflation. 

US manufacturing continues to slow from the peak of the past year, but

there are signs that business conditions are getting easier.

The Institute for Supply Management's monthly survey reported one of the steepest declines in prices on record as oil and commodity costs tumbled in July. Businesses were also the most positive on supplier delivery conditions since July 2020.

Company Scoops ❤🌎💰

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

Exxon Mobil

-

Coca-Cola

Procter & Gamble

Amazon

Apple's

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

🤓 Inside Scoop...

The

Federal Reserve

, aka the Central Bank, aka The Fed, is in charge of our whole money system. The Fed's job is to keep the economy running at a solid pace by stimulating business activity when the economy needs support and restricting it when it starts to overheat.

Inflation

is the economic heat gauge. The Fed wants some inflation (~2%), but not high inflation (now). So the Fed will continue shifting from supportive policy to restrictive policy until it feels like inflation is under control.

Make sure your inbox doesn't hide your Scoops

To prevent our emails from getting moved to your promotions or spam:

Gmail

: Move the Scoop to your "Primary" inbox:

  • On Mobile: Within this email, select the dots (...) in the top right of your screen. Select "Move to" & "Primary". If it's not there, then your mailbox isn't segmented.

  • On Desktop: Within your inbox, drag & drop this email into the "Primary" tab at the top left.

Apple

: Select the Scoops email at the top. Choose "Add to VIP"

You can find instructions here for all other email clients:

💙 Share the scoop!

1. Share your unique link with friends & coworkers (forward or copy)

2. When they sign up you unlock exclusive rewards

3. Keep on sharing to unlock more rewards

rewards

Forward your unique link:

You have made referrals

Reply

or to participate.