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Daily Scoop 8-5

Daily Scoop 8-5

👋 Your Thursday Scoops - Free college, pay bumps, & Exxon might actually reduce carbon emissions

August 05, 2021

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Today's Scoop:Build up

Big Picture

Earnings season is almost over, & profits were strong.
Fewer people were laid off last week.
Employers are boosting pay & benefits to try to attract workers.

The Market

⬆️

+0.6%

S&P 500: 4,429.10

1Mo:

+2%

| 1Yr:

+32%

| 5Yr:

+103%

Markets notched a new record high today ahead of the important July jobs report tomorrow. The Federal Reserve's been pointing to the unemployment rate as their main bellwether for whether they can start to "taper" their stimulus. Good news could be bad news tomorrow if more people back to work signals an end to the stimulus.

Company Scoops ❤🌎💰

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

Exxon's

Target

Etsy's

CVS's

Kroger's

prep for food delivery

🤓 Inside Scoop...

Tapering is a term associated with a specific policy step from the Federal Reserve, aka the Fed, aka the Central Bank, aka the controller of the money system. The Fed is currently stimulating the economy in two main ways: first, keeping interest rates low so it’s easier to borrow and spend, and second, by “printing” money and pumping it into the system, so the economy’s pipes stay flowing. The Fed doesn’t physically print money, but it creates new money by buying stuff with money that it speaks into existence. Tapering refers to the Fed slowing down its rate of purchases, thus slowing down the rate of money creation and reducing the ongoing stimulus. Tapering means they’re starting to phase out of stimulation mode.