Daily Scoop 22-9-6

👋 Your Tuesday Scoops - Tragic suicide for Bed Bath & Beyond, UBS bails on Wealthfront

Today's Scoop:Tired

Love your daily scoops? Support the mission by recruiting a friend and unlocking premium content!

Big Picture

  1. Employment and wages are still on the rise.

  2. The US services industry is proving stronger than expected.

  3. 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.

Make sure your inbox doesn't hide your Scoops

To prevent our emails from getting moved to your promotions or spam:

Gmail

: Move the Scoop to your "Primary" inbox:

  • On Mobile: Within this email, select the dots (...) in the top right of your screen. Select "Move to" & "Primary". If it's not there, then your mailbox isn't segmented.

  • On Desktop: Within your inbox, drag & drop this email into the "Primary" tab at the top left.

Apple

: Select the Scoops email at the top. Choose "Add to VIP"

You can find instructions here for all other email clients:

💙 Share the scoop!

1. Share your unique link with friends & coworkers (forward or copy)

2. When they sign up you unlock exclusive rewards

3. Keep on sharing to unlock more rewards

rewards

Forward your unique link:

You have made referrals

Reply

or to participate.