Daily Scoop 22-8-2

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Today's Scoop:Wobbles

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Big Picture

1. Fewer people are quitting their jobs.

2. Job openings are declining.

3. Corporations are doing better than investors feared.

The Market: 

⬇️

-0.7%

S&P 500: 4,091.19

1Mo:

+7%

| 1Yr:

-8%

| 5Yr:

+65%

Markets didn't do much today. Investors are still debating whether inflation has peaked and whether the Federal Reserve will start to relax its economic restrictions this year. A few policymakers mentioned today that there's much

more work to do battling inflation

.

Fewer people are quitting their jobs

. The Labor Department's Job Openings and Labor Turnover Survey showed 4.24 million people left their jobs in June, the fewest since October.

Job openings have declined

each month since March but sit well above pre-pandemic levels.

We're more than halfway through second quarter corporate financial reports, and more than 73% of

companies reported higher profits than investors expected.

Company Scoops ❤🌎💰

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

Uber's

hitting the gas

-

Starbucks

battles union over wages and benefits

-

PepsiCo

buys Celsius and looks to dominate energy

-

Pinterest

fades from growth

-

BP

joins in the big oil profits

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

🤓 Inside Scoop...

Companies with extra cash can

reward shareholders

for their support in two ways. First, they can distribute money directly out to investors, literally giving them a share of the profits by paying them a

dividend

. Companies will declare that every investor gets $X for each share they own. Second, companies can buy back their own shares from public investors.

Buybacks

allow companies to reduce the number of outstanding shares in the market, making each remaining share more valuable. They're slicing their company ownership into fewer pieces, allowing each shareholder to own a greater percentage of the company. If companies pause or slow either of these activities, it can mean they're preparing for trouble.

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