Daily Scoop 22-8-24

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Today's Scoop:Bounce

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Big Picture

1. Oil prices are rising again.

2. President Biden announced student loan forgiveness.

3. Businesses are cutting back on investments.

The Market: 

⬆️

+0.3%

S&P 500: 4,140.77

1Mo:

+4%

| 1Yr:

-8%

| 5Yr:

+69%

Markets drifted higher today on a relatively quiet session.

You may not have to pay back your student loan debt.

The Biden Administration’s Student Loan Debt Plan announced today will offer $10,000 in student loan debt forgiveness to Americans making less than $125,000 a year and $20,000 for those who received Pell Grants. Americans with undergraduate loans will be able to cap payments at 5% of their monthly incomes.

Oil prices are trending higher

amidst the escalating conflict between Europe and Russia. Russia is reducing the supply to the West as the war in Ukraine continues. The Organization of the Petroleum Exporting Countries (OPEC), made up of the other major oil powers, has hinted at reducing supply to stop prices from falling.

Businesses have cut back on big spending items

. The Commerce Department said durable goods orders, products like machinery or technology meant to last at least three years, did not increase in July from June, after rising in nine of the last twelve months.

Company Scoops ❤🌎💰

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

UPS

drivers suffer in dangerous heat

-

Yelp

directs users away from anti-abortion centers

-

Wendy's

battles a possible E Coli outbreak

-

Twitter

whistleblower puts Musk buyout at risk

-

Intel's

building big in America

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

🤓 Inside Scoop...

A

whistleblower

is an employee who discloses information or evidence of illegal, unsafe, fraudulent, or abusive actions within a company or organization. There are different official methods for reporting these claims, depending on the type of misconduct and the type of organization, whether a private company or a government agency. Whistleblowers can submit formal reports to Occupational Safety and Health Administration (OSHA) for workplace concerns or to the Securities and Exchange Commission (SEC) for financial misconduct. The reporting chain within the government gets a little messy depending on the sector and security clearance of the employee. If the claims are credible, several laws protect whistleblowers from retaliation. Whistleblowers may also earn a financial reward in some cases.

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