Daily Scoop 22-8-4

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Today's Scoop:Stalled

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Big Picture

1. Layoffs increased last week.

2. Oil prices continue to fall.

3. Prices for other commodities like wheat and corn have returned to normal too.

The Market: 

⬇️

-0.1%

S&P 500: 4,151.94

1Mo:

+8%

| 1Yr:

-6%

| 5Yr:

+70%

It was a pretty dull day in the markets. Traders are on vacation or waiting for

tomorrow's jobs report

to get a sense of unemployment and wages.

Layoffs crept up again last week.

The Labor Department reported 260,000 initial unemployment claims for the week. It's still a pretty low level, but it's rising.

Oil, wheat, corn, and soybean prices keep falling

, which should

slow inflation of the cost of food and gas.

Fears of slower economic activity scared speculators out of the market. Gas prices at the pump have declined for 50 straight days. AAA says the national average sits at $4.14/gal, compared with the peak above $5.

Company Scoops ❤🌎💰

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

Warner Bros Discovery

kills $90M Batgirl last minute

-

Toyota

raises the alarm about production

-

Lucid Motors

fails to realize its electric dreams

-

Hilton

boosts its carbon and community goals

-

Walmart

saves money, issues layoffs

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

🤓 Inside Scoop...

As more companies announce goals to reduce their environmental impact, specific terms can signal authenticity in their ambitions, like the

Science Based Targets initiative

(SBTi). Any company can announce an

emissions-reduction goal

. The big question is whether they know how to measure their emissions, implement strategies to reduce them, or reduce them urgently enough. The SBTi is a partnership between CDP, the United Nations Global Compact, World Resources Institute (WRI), and the World Wide Fund for Nature (WWF). In committing to SBTi, companies pledge to reduce emissions at a necessary pace to help avoid the worst outcomes of climate change and agree to official oversight and validation of their work.

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