Daily Scoop 22-9-22

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Today's Scoop:Concerned

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Big Picture

1. Central banks around the world are trying to tame inflation.

2. The jobs market is still very strong.

3. US exports are improving.

The Market: 

⬇️

-0.8%

S&P 500: 3,757.99

1Mo:

-9%

| 1Yr:

-16%

| 5Yr:

+49%

Markets wavered today as investors worried about a slowing economy from persistent inflation.

Central banks worldwide are stepping up economic restrictions to battle high inflation

. The US Federal Reserve raised interest rates yesterday to make borrowing more expensive and slow economic activity. Fifteen other central banks around the world also announced higher interest rates this week.

The jobs market is still strong.

The Labor Department reported another low level of layoffs last week, with only 213,000 initial unemployment claims. Weekly layoffs are averaging around pre-pandemic levels.

US exports are recovering but battling a strong dollar.

The Bureau of Economic Analysis reported a narrowing of the US trade deficit in the second quarter, as net imports shrank. Though we exported more than expected, it's only a modest improvement from the record deficit of the first quarter. Exporting is getting more difficult as American goods grow more expensive.

The US dollar is stronger than its been in twenty years.

Company Scoops ❤🌎💰

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

Meta

sued for circumventing Apple's privacy features

-

TotalEnergies

sued for not doing enough for climate

-

Citi

offers employees free college

-

Target

ramps up for the holiday season

-

Eyenovia's

new chief shifts focus

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

🤓 Inside Scoop...

The stock market works in anticipation of what's going to happen. Investors choose to own a piece of a company to earn a share of its future growth and profits. Investors often sell stocks when worried about

inflation

because it can negatively affect

corporate profits

. As the costs of materials, labor, and other supplies increase, corporations can pass those higher costs on to the consumer by raising the price of their goods or services. Eventually, the consumer can't handle the price increases and stops buying as much. Corporate profits start to decline as costs keep increasing, but revenue slows. Investors are watching carefully to see how rising costs will affect different industries.

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