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- Daily Scoop 22-8-16
Daily Scoop 22-8-16
👋 Your Tuesday Scoops - Dollar General dangers & Walmart swings at Amazon
Today's Scoop:Treading
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Big Picture
Oil and gas companies are raking in the profits.
The consumer is still consuming.
Home construction is slowing amidst fading demand.
The Market:
⬆️
+0.2%
S&P 500: 4,305.20
1Mo:
+12%
| 1Yr:
-3%
| 5Yr:
+78%
Markets didn't do much today, with so many investors on vacation. Solid updates from retail giants like Walmart and Home Depot were a welcome
indication that consumer spending is still healthy.
Earnings season is nearly over, and
more than 75% of S&P 500 companies have reported stronger profits
than investors expected. Profits as a whole rose by 6.7%.
The biggest winners by far have been oil and gas companies.
The Energy sector tripled its profits from a year ago,
the most substantial growth of any industry. Excluding the Energy sector, the remaining companies in the S&P 500 actually reported a -3.7% year-over-year decline in earnings.
Home construction has slowed
as high mortgage rates and record prices hurt demand. The Commerce Department reported new home construction fell -9.6% from June.
Company Scoops ❤🌎💰
(Click to dig in & vote your reaction, see how others feel)
Walmart
-
Dollar General
-
Moderna's
-
YouTube
-
Home Depot
(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.
It's like having the holidays four times a year.
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