Daily Scoop 22-8-9

👋 Your Tuesday Scoops - Zillow supercharges home-stalking & Allbirds crashes

Today's Scoop:Holding

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Big Picture

  1. Fewer people are buying homes.

  2. Home prices are still at record highs.

  3. Inflation is cooling in the housing market.

The Market: 

⬇️

-0.4%

S&P 500: 4,122.47

1Mo:

+7%

 

| 1Yr:

-7%

 

| 5Yr:

+69%

Markets continue to drift sideways. Tomorrow's inflation data will be important.

High mortgage rates have cooled the housing market.

Homes feel much less affordable to the average consumer. A survey from Fannie Mae reported that

only 17% of consumers believe it's a good time to buy

a house. Realtor.com reported a third straight month of record increases in the number of unsold homes on the market.

The National Association of Realtors (NAR) reported

the median sales price of a home hit a new record

of $416,000 in June.

While the prices are still rising, they're rising less quickly each month,

aka inflating at a slower rate. The Central Bank hopes raising other kinds of interest rates will have that same cooling effect on inflation across the economy.

Company Scoops ❤🌎💰

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

Zillow

-

Allbirds

-

Tyson Foods

-

Lyft

-

Palantir's

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

🤓 Inside Scoop...

Earnings Per Share

(

EPS

) is one of the two main metrics you'll find in the news about a corporation's quarterly financial update.

Earnings

is another word for

profit

, and so is

net income

. Earnings per share are the company's profit divided by the number of shares available. It's a standard way for an investor to evaluate whether the company is earning more or less profit this quarter than the investor expected. Understanding how much the stock price is marked up over the company's profitability is also helpful. If one company's share price is 15x higher than its earnings per share, investors are more confident in its future than a company whose share price is 12x its EPS.

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