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- Daily Scoop 22-9-6
Daily Scoop 22-9-6
👋 Your Tuesday Scoops - Tragic suicide for Bed Bath & Beyond, UBS bails on Wealthfront
Today's Scoop:Tired
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Big Picture
Employment and wages are still on the rise.
The US services industry is proving stronger than expected.
Energy prices have soared in Europe as the conflict with Russia escalates.
The Market:
⬇️
-0.4%
S&P 500: 3,908.19
1Mo:
-6%
| 1Yr:
-14%
| 5Yr:
+59%
Markets couldn't maintain the positive start after the long weekend.
The official
jobs report on Friday was better than expected
. Businesses hired 315,000 more people in August. That's fewer new jobs than in previous months, but
unemployment is still near pre-pandemic lows
.
Wages kept climbing
in August, now up 5.2% in the past year.
Wage gains haven't kept up with inflation.
The prices of things consumers spend money on are 8.5% more expensive than a year ago.
More economic data today showed
surprising strength in the services industry.
The ISM Services Purchasing Managers' Index reported
an increase in business activity and a decrease in prices
in August. Economists had expected a decline.
Europe's feeling significant pain from rising energy prices
amidst an escalating conflict with Russia over its invasion of Ukraine. Russia announced it would indefinitely close its main natural gas supply pipeline to Europe. European natural gas prices surged more than 30% over the weekend.
Company Scoops ❤🌎💰
(Click to dig in & vote your reaction, see how others feel)
Bed Bath & Beyond
-
Bank of America
-
UBS
-
Lululemon
-
CVS
(These links only work for 24 hours while the story is live)
🤓 Inside Scoop...
Mergers
and
acquisitions
are a core component of corporate expansion and development. When a company wants to expand into a new market or absorb new resources that another company has, it'll typically hire an
investment bank
(like a real estate broker, but for companies) to help identify, value, and negotiate a deal with the target company. The acquiring company may take on
debt
to fund the deal, trade its
stock
, or use its cash reserves. The acquisition can be an
all-cash deal
, where shareholders receive cash in their brokerage accounts, or an
all-stock deal
, where your shares of Company X turn into some amount of shares of Company Y, or some mixed combination of the two.
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