Daily Scoop 22-9-29

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Today's Scoop:Cranky

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Big Picture

1. More corporations are warning of slowing profits.

2. The labor market is still very strong.

3. The war in Ukraine continues to escalate as Russia attempts to annex Ukrainian territory.

The Market: 

⬇️

-2.1%

S&P 500: 3,640.47

1Mo:

-9%

| 1Yr:

-15%

| 5Yr:

+43%

Markets reversed yesterday's bounce and reached new lows for the year. More corporations, from Apple to CarMax, are warning about slowing sales.

The labor market is still very strong.

Weekly layoff rates continue to decline, approaching historically-low levels. The Labor Department reported initial unemployment claims of 193,000 for the latest week.

Russian President Vladimir Putin will attempt to annex four eastern regions of Ukraine tomorrow,

roughly 15% of its territory, after questionable voting referendums called for independence in the region. The United Nations condemned the act. T

he annexation is likely to escalate tensions and increase Western sanctions on Russia, exacerbating regional trade disruptions.

Some experts say this could be Putin's route to a ceasefire after a failed invasion.

Company Scoops ❤🌎💰

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

Amazon

boosts pay and paycheck access

-

Biogen

makes a breakthrough for Alzheimer’s

-

Uber

invents new way to track emissions

-

General Motors

keeps pumping money into EV's

-

DocuSign

dumps CEO and 9% of its staff

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

🤓 Inside Scoop...

As companies set target dates to achieve

net-zero emissions

, they'll be setting emission reduction targets for their

Scope 1

(direct),

Scope 2

(power-related), and

Scope 3

(indirect) emissions. Scope 1 & 2 result from its core operations and the power it purchases to support those operations. Scope 3 will be much bigger and more important but harder to tackle. It includes the Scope 1 & 2 emissions from all of their suppliers, the emissions from their products, and even things like employee commutes.

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