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Daily Scoop 9-2

Daily Scoop 9-2

👋 Your Thursday Scoops - Alibaba redistributes wealth & pilots protest Southwest

September 02, 2021

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Today's Scoop:Cruising

We'll be back on Tuesday. Enjoy the long weekend!

Big Picture

Fewer people got laid off last week.
Hiring continues to be a struggle for major corporations.
China's redistributing the wealth accumulated by the major tech companies.

The Market

⬆️

+0.3%

S&P 500: 4,536.95

1Mo:

+3%

| 1Yr:

+31%

| 5Yr:

+113%

Markets marched to their 54th record high of the year. The Labor Dept reported only 340,000 layoffs last week, the lowest level since the start of the pandemic. We'll see the official August labor report tomorrow to understand whether the unemployment rate improved.

Company Scoops ❤🌎💰

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

Southwest

sued by pilots

Alibaba

redistributes its wealth

Amazon's

huge expansion

Allbirds

goes public

Apple

concedes

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

🤓 Inside Scoop...

An Initial Public Offering (IPO), aka "going public," refers to the first time a company asks us, regular people, to invest. Before that, you had to know somebody or have a ton of money to get behind the red rope. They sell shares of their company to the open market in exchange for our cash. The company can use that cash for all sorts of things, typically used to build their business further. It also makes it easy for any previous investor or early employee to sell their existing shares on the market.