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- Daily Scoop 22-8-22
Daily Scoop 22-8-22
👋 Your Monday Scoops - Ford's safety disaster & Apple employees win big
Today's Scoop:Stumble
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Big Picture
Investors aren't fearing the worst anymore.
CEOs are expecting a recession.
The housing market is slowing rapidly, cooling inflation.
The Market:
⬇️
-2.1%
S&P 500: 4,137.99
1Mo:
+4%
| 1Yr:
-8%
| 5Yr:
+69%
Markets took a turn to negative town today as investors got tired of the recent optimism. Better-than-feared inflation data and corporate financial reports fueled the bounce, but we'll need more positive economic data to sustain the rally.
Investors are still very pessimistic, but less than before.
Bank of America's August Global Fund Managers survey reported an increase in investor sentiment from July's "apocalyptic" reading.
CEOs expect more challenging times ahead.
A Stifel survey revealed only 3% of corporate executives think we can avoid a recession. The rest think we're in it already, or it's coming within the next 18 months.
The housing market has hit a significant slowdown
. Tech-based real estate broker Redfin said home sales in July dropped to their lowest level since the beginning of the pandemic.
Real estate inflation is cooling.
Home prices increased at their slowest pace since June 2020.
Company Scoops ❤🌎💰
(Click to dig in & vote your reaction, see how others feel)
Bed Bath & Beyond
-
Ford
-
Apple
-
Wayfair
-
(These links only work for 24 hours while the story is live)
🤓 Inside Scoop...
Summer can often bring more
market volatility
because of a substantial decline in
trading volume
. As much as it seems like the stock market is a big machine, it's still run by people. As portfolio managers and analysts head to the Hamptons and more people take a moment to unplug, trading volumes can decline. There can be wider swings in prices in a market with fewer participants. If you had a thousand people guess what they think a toaster costs, you would likely see many of the same guesses or slight differences in the middle of the range of price guesses. But, the more people you take away, the fewer overlapping opinions and wider the gaps in price estimates. That's what happens in the
stock market.
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