- Scoops
- Posts
- Monday's Scoop: Bouyed ☀️
Monday's Scoop: Bouyed ☀️
Apple's gender bias & GM workers' big payday
Hey friend - hope you had a phenomenal weekend.
There will be no scoops tomorrow and Wednesday, June 18 and 19. I’ll be headed to DC tomorrow to speak at Georgetown University, and then Wednesday is Juneteenth. Banks and markets will be closed.
Insiders, catch up with our Weekly Scoop. If you’re not an Insider, refer, open, vote, or upgrade to unlock your status!
Here’s what you need to know today to inform your work, spending, and investments…
🌎 Big picture
The real estate market has stalled as homes remain unaffordable.
Americans are still struggling with the high cost of living.
China’s economy isn’t recovering as well as hoped.
How are you feeling about the economy? |
💼 Work trends
Unemployment Rate: 4.0%
Still near the lowest rate in 50+ years
China's economy isn’t recovering from the pandemic as well as hoped. In May, industrial production rose only 5.6%, falling short of economist expectations, while real estate investment and home prices continued to decline. Despite a slight increase in sales, overall spending remains weak compared to before the pandemic. The impact of the world’s second-largest economy spreads well beyond its borders. Slow growth in China drags down other nations’ economies.
👜 Cost of living trends
Inflation Rate: +3.3% (YoY), 0% (MoM)
Policymakers aim for 2% YoY inflation (May CPI)
Americans are still struggling with the high cost of living. The University of Michigan reported that consumer sentiment in the US hit a seven-month low in June, reflecting ongoing concerns over high prices and weakening incomes. Worries about economic stability overshadow any relief from lower fuel and food costs. This persistent pessimism could signal challenges ahead for consumer spending that powers two-thirds of the economy.
🏠 Housing trends
30yr Mortgage Rate: 7.0%
That’s up from 6.8% a year ago. (MBA)
Median Existing Home Price: $407,600
That’s up from $386K a year ago. (NAR)
The real estate market has stalled as homes remain unaffordable. Digital real estate platform Redfin reported that US home sales in May hit a decade-low as high mortgage costs and soaring prices have reduced the volume of both buyers and sellers in the housing market. The median home price rose to a record $439,716, up 1.6% from April and 5.1% from a year ago, while the average 30-year fixed-rate mortgage sits around 7%, pushing affordability to an all-time low. Despite a slight increase in new listings, the volume of home sales dropped 1.7% from April and 2.9% from last year. The number of homes for sale is roughly 25% below pre-pandemic levels, keeping prices high with limited supply.
📈 Investment trends
The Market: ⬆️ +0.8%
S&P 500: 5,473.23
1Mo: +3% | 1Yr: +25% | 5Yr: +86%
The market floated to another new record high on Monday without any major news shaking the narrative that inflation is cooling and the economy is doing alright. Investors will wait to see if people are still shopping as much with May's retail sales report tomorrow.
🏭 Companies worth watching
👍👎 APPROVAL RATINGS
Act like a boardmember and judge how companies behave. Engaging helps build your financial confidence and hold corporations accountable. (+2pts)
![]() Adobe | Subscription Traps US regulators sued Adobe for hiding termination fees and making cancellations difficult, alleging the company trapped customers in subscriptions by concealing important terms. The creativity software giant earns 95% of its revenue from subscriptions.
|
🤓 Inside Scoop: Who prevents companies from abusing their power?
Federal antitrust laws are designed to increase economic competition by limiting the market power of any company or small group of companies (aka a trust).
The Federal Trade Commission, and sometimes the Justice Department, are tasked with monitoring pricing practices and collusion between significant corporations to break up monopolies and other anti-competitive power structures.
Regulators review all corporate mergers and acquisitions to ensure newly formed companies don't limit competition in a way that harms consumers with less choice or higher prices.
![]() General Motors | New Union Gains GM's electric vehicle battery plant workers in Ohio voted to ratify a new labor agreement that included a 30% wage increase over three years, with better benefits and working conditions. GM's EV factory workers voted two years ago to join the broader autoworker's union, opening the door for massive pay increases.
|
![]() Apple | Equality Lawsuit Apple faces a new lawsuit accusing the tech giant of underpaying over 12,000 female workers based on gender bias in salaries and promotions, violating state pay equity laws. Apple says its pay is fair and audited annually by a third party.
|
![]() Eli Lilly | Bulking Weighloss Eli Lilly unveiled a cutting-edge manufacturing plant in North Carolina to meet soaring demand for its diabetes and weight loss drugs, producing injectable pen treatments as early as 2025. The drugmaker's CEO says it would need at least ten more factories to meet current demand, so it has ramped up investment.
|
![]() Target | Pride Pivot Target adjusted its LGBTQ-themed merchandise strategy this year, removing items from several stores after last year's Pride assortment led to threats and boycotts from certain consumers. The superstore says it still provides year-round support for the LGBTQ community and will be present at nationwide Pride events.
|
💭 Broader perspectives… (+2pts)
Does it feel like there’s as much corporate LGBTQ support this year as last year? |
🛠️ Recommended resources (+2 pts)
💸 Get Paid: Earn over 5% with SaveBetter’s Savings Account Aggregator
🔄️ Automate Your Savings: Build savings faster with Cache’s AI transfer buddy
📈 Start Investing: Automate investing with our favorite M1 Finance
💼 Monetize Your Experience: Consult on the side for GLG
💰 Save More Money: Stash a percentage of every purchase with Guac
🌎 Divest From Fossil Fuels: Bank sustainably with Atmos
📒 Budget Better: Track and manage your spending with Simplifi
💎 Insure Your Stuff: Protect your family and make an impact with Lemonade
🔍 Keep Your Money: Roll over your 401(k) for free with Capitalize
💡 Get More Ideas: Access investment research from the Motley Fool
🪙 Explore Crypto: Invest through the most trusted platform, Coinbase
Reply