Daily Scoop 22-9-8

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Today's Scoop:Float

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Big Picture

1. Fewer people are getting laid off each week.

2. Europe is trying to get its inflation under control.

3. Retailers are in discount mode.

The Market: 

⬆️

+0.7%

S&P 500: 4,006.18

1Mo:

-3%

| 1Yr:

-11%

| 5Yr:

+60%

Markets drifted higher today without any driving force. It was a quiet day.

Fewer people got laid off last week than expected.

The Labor Department reported initial unemployment claims declined to 222,000 when economists expected an increase.

Weekly layoff rates sit at a three-month low

. The August jobs report showed more people re-entering the labor force and finding positions.

The European Central Bank (ECB) raised interest rates by 0.75% today, the biggest hike in ECB history.

Europe is now following the US Central Bank by making borrowing more expensive to slow economic activity and hopefully slow inflation.

Less borrowing means less spending on the same amount of goods: lower demand, lower prices.

Company Scoops ❤🌎💰

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

Microsoft

and Sony battle over Call of Duty

-

Twitter's

fake follower problem gets worse

-

American Eagle

hits trouble and pauses dividends

-

Walmart

partners with UnitedHealth to expand healthcare

-

GameStop's

banking on crypto

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

🤓 Inside Scoop...

Companies with extra cash can reward

shareholders

for their support in two ways. First, they can distribute money directly out to investors, literally giving them a share of the profits by paying them a

dividend

. Companies will declare that every investor gets $X for each share they own. Second, companies can buy back their own shares from public investors.

Buybacks

allow companies to reduce the number of outstanding shares in the market, making each remaining share more valuable. They're slicing their company ownership into fewer pieces, allowing each shareholder to own a greater percentage of the company. If companies

pause

or slow either of these activities, it can mean they're preparing for trouble.

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