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Daily Scoop 6-29

Daily Scoop 6-29

👋 Your Tuesday Scoops - Does monopoly ever really end well?

June 29, 2021

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Today's Scoop:Effortless

Big Picture:

1) Home prices are still surging higher on low supply and high demand.

2) Consumer confidence is still high

3) Big banks have a ton of extra cash, so they're rewarding shareholders.

The Market:

⬆️ +0.03%

S&P 500: 4,291.80

1Mo:

+2%

| 1Yr:

+38%

| 5Yr:

+104%

Markets did the absolute minimum today to notch a new record high. Investors seemed relatively unimpressed by two new pieces of positive economic data. The Conference Board’s consumer confidence index was even higher than expected. Home prices surged more in April than at any time in the last 30 years. Housing demand is high, but supply is low. Experts don't see a bubble, because mortgage rates are still low and incomes are increasing, making it easier to cover payments.

Company Scoops ❤🌎💰

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

Facebook

shrugs off the haters

The government has to step up their monopoly game if they want to beat Zuck.

Google's

still a target

The Justice Dept's coming for every business they have

Morgan Stanley

dishes the cash

Shareholders get to fill their pockets

Volkswagen

kills the engine

Days of the internal combustion engine are numbered

Boeing

gets shut down

The FAA wants to see more after the deadly crashes

🤓 Inside Scoop...

Stock buybacks are a way for companies to reward their shareholders (investors and employees). They will use excess cash to buy some of the outstanding shares traded in the market. By reducing the number of shares, each share gets more valuable. So each investor owns a bigger piece of the pie. It's a little bit like the company is investing in itself. It's also a nice way to make the company's per-share numbers, like earnings (profit) per share, look better.