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Daily Scoop 8-23

Daily Scoop 8-23

👋 Your Monday Scoops - Pfizer's big day & Old Navy gets inclusive

August 23, 2021

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Today's Scoop:Boosted

Big Picture

Pfizer's FDA approval boosted optimism for faster return to work.
Manufacturers and suppliers are still feeling strained.
Cryptocurrency prices continue to rebound from lows.

The Market

⬆️

+0.9%

S&P 500: 4,479.53

1Mo:

+1%

| 1Yr:

+31%

| 5Yr:

+107%

Markets pushed to new record highs today as investors cheered the official FDA approval of Pfizer's vaccine. The official approval paves the way for more companies to mandate vaccinations and get more back to work. The Purchasing Manager's Index released today indicated supply chain managers are growing less confident, concerned about labor shortages and higher supply prices. Crypto prices are rising from their lows after more companies like Coinbase, Robinhood, Visa, and Square expand their work with crypto assets.

Company Scoops ❤🌎💰

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

Pfizer & BioNTech

get approved

Old Navy

welcomes plus sizes

Apple's

delaying the return

General Motors

gets burned on electric

Facebook's

back to battle

🤓 Inside Scoop...

The Purchasing Manager's Index provides investors and economists with a monthly indicator of the strength of business conditions. The Institute for Supply Management surveys supply chain managers of more than 400 companies across 19 industries, asking them how they feel about business conditions. The ISM converts all that survey data into a monthly number from 0 to 100. If the number is over 50, that means suppliers think the economy is growing and expanding. It was at 55.4 in August, down sharply from 59.9 in July and 68.1 peak in May.