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Daily Scoop 9-27

Daily Scoop 9-27

👋 Your Monday Scoops - Boycotting Toyota & Apple bans Fortnite

September 27, 2021

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Today's Scoop:Uncertain

Big Picture

Congress needs to approve a new budget by Sept. 30th.
Companies are investing in themselves.
Infection rates are falling in the U.S.

The Market

⬇️

-0.3%

S&P 500: 4,443.11

1Mo:

-2%

| 1Yr:

+33%

| 5Yr:

+105%

Markets continued to fluctuate today as investors weigh the uncertain landscape ahead. Companies are investing in themselves, & infection rates are falling, but Congress has a lot to figure out in a short timeline. The Commerce Dept. said durable goods orders increased more than expected last month, meaning businesses are buying heavy machinery & infrastructure. Congress needs to approve a new budget by the end of the month or face a government shut down.

Company Scoops ❤🌎💰

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

Toyota's

facing boycotts

Amazon's

building on sacred land

Apple

bans Fortnite

Marriott

promises net-zero

General Motors

boosts Detroit

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

🤓 Inside Scoop...

A lot is going on in Congress right now. Congress needs to approve the federal spending budget regularly. If they don't do that by September 30th, federal spending stops, and the government shuts down. Congress also faces an issue with the amount of debt the Treasury can issue, aka the debt ceiling. Congress has to approve whether to suspend that limit or raise it. Otherwise, the government will default on its loans for the first time. Raising the debt ceiling doesn't approve more spending. It just allows the Treasury to issue government bonds to pay for the spending Congress already directed.