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  • Daily Scoop 22-9-27

Daily Scoop 22-9-27

👋 Your Tuesday Scoops - Biogen doctor bribes & Citi boosts diversity

Today's Scoop:Wobbles

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Big Picture

  1. Home prices are falling.

  2. Lumber prices are back to normal.

  3. Consumer confidence is increasing.

The Market: 

⬇️

-0.2%

S&P 500: 3,647.29

1Mo:

-10%

| 1Yr:

-16%

 

| 5Yr:

+45%

Markets tried to bounce back from the recent negativity today but closed at a new 2022 low following more threats from Russia.

Consumer confidence is improving.

The Conference Board Consumer Confidence Index rose in September for the second month after several months of decline. Consumers are less worried about inflation.

More data indicates that inflation is cooling.

Inflation is the key thing the Federal Reserve is trying to control by restricting the economy. If prices broadly stop rising so quickly or decline, the Fed will likely ease up on its restrictive policies. That would be good for growth and the stock market.

Home prices are falling.

With a 30-year mortgage costing double what it did a year ago, homebuyer demand has slowed. The S&P Corelogic Case-Shiller Index for home prices declined 0.3% in July, the fastest deceleration of housing inflation in the 27-year history of the index.

Lumber costs are back to normal

after low supply and high construction demand sent prices skyrocketing during the pandemic. Two-by-fours cost 70% less than they did in January.

Company Scoops ❤🌎💰

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

Citi

-

Biogen

-

Salesforce

-

Rackspace

-

JetBlue

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

🤓 Inside Scoop...

More companies are setting

net-zero emissions

and

carbon-neutral

targets to reduce their impact on climate change and minimize the volume of harmful

greenhouse gases

emitted into the atmosphere from their operations, supply chain, and products. While the terms are often colloquially interchangeable, they have slightly different meanings. Carbon neutral means the company removes as much carbon dioxide from the atmosphere as it emits yearly. Net-zero takes it a step further, broadening from just carbon to all greenhouse gases like methane or sulfur dioxide and restricting the use of

carbon offsets

. This means net-zero companies must reduce their emissions, not just counteract them by purchasing financial instruments that direct money to carbon-negative projects like tree planting or forest conservation.

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