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Daily Scoop 7-14

Daily Scoop 7-14

👋 Your Wednesday Scoops - Delta's bailout & more bank profits

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Today's Scoop:Soothed

Big Picture

1) Inflation's a problem all the way up the supply chain, but policymakers aren't worried.

2) Big banks think there will be fewer loan defaults than originally expected.

3) Pandemic bailouts helped airlines get back to profitability.

The Market

⬆️

+0.1%

S&P 500: 4,374.30

1Mo:

+3%

| 1Yr:

+36%

| 5Yr:

+102%

After freaking out about inflation yesterday, investors decided not to worry today. New data today showed spiking inflation up the supply chain in addition to consumer inflation spikes reported yesterday. The Producer Price Index (PPI) jumped 7% in June, the biggest monthly rise in 11 years. The Consumer Price Index rose the most in 13 years. The Federal Reserve is not worried. Chairman Powell reassured everyone that it should be over soon when everything's back to normal, and they won't stop the stimulus anytime soon.

Company Scoops ❤🌎💰

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

Delta

flies on taxpayer dollars

Volkswagen's

Google's

Bank of America

Citi

🤓 Inside Scoop...

As companies release their quarterly financial updates, aka "earnings season," we hear a lot about expectations. Each quarter, companies will provide data on how they just performed, but they'll also usually give insights into what they expect for the next quarter. Wall Street analysts look into the data and make their own projections. When the reports come out, we learn whether those companies "beat" or "missed" those expectations.