- Scoops
- Posts
- Today's Scoop:
Today's Scoop:
Tired 🌥️
Hey friend - Make sure to catch up with our Weekly Scoop, and don’t miss our Explained: Should I be investing if there’s a recession?
🚨🎁ENDS TONIGHT!🎁🚨
Get 30% OFF your entire order! Use code GobbleGobble.
If you haven’t seen our shop yet, you’ll be surprised how much you love it. Click here
Here’s what you need to know today…
Big Picture
Shoppers took advantage of Black Friday deals with record spending.
High mortgage rates deterred home buyers last month.
US manufacturing is still struggling.
The Market: ⬇️ -0.2%
S&P 500: 4,550.43
1Mo: +9% | 1Yr: +15% | 5Yr: +65%
The market drifted sideways as traders returned from the holiday weekend to a slow economic news cycle.
Americans are still spending heavily for the holidays but doing it more online. According to a report by Mastercard, in-store sales for Black Friday were up by just 1%, while online sales grew by over 8% compared to the previous year. A report from Adobe Analytics showed that overall sales were also up 7.5% from last year and reached a record high of $9.8 billion. Shoppers are searching for better deals via websites and apps, given rising costs and waning savings.
👜 Retailers are pushing BIG discounts this year. Use this week to cut costs on your basic spending, not just your holiday gifts. What stuff will you likely need to buy in the next six months that you can push forward? Pet/home supplies, clothes, toiletries, etc.
A spike in mortgage rates stalled home buying last month. According to the Commerce Department, sales of new houses dropped 5.6% in October following a downward revision to the prior month. Before October, new home sales had been trending upward as rising mortgage rates discouraged homeowners from selling and left new homes as the main option. Existing home sales, which comprise most of the market, hit a 13-year low in October as mortgage rates hit multi-decade highs.
The US manufacturing sector is still struggling but shows some signs of strength. The Dallas Federal Reserve’s Manufacturing Survey reported decreased factory activity in November and fewer new orders. This is the 19th consecutive month of contracting business activity. Other key manufacturing regions like New York and Philadelphia increased activity, but most regions are still slowing.
How are you feeling about the economy? |
Company Scoops 🗣️🌎💰
💡Act like a boardmember and judge how companies behave. Engaging helps build your financial confidence and hold corporations accountable.
United Airlines | Monetizing Passengers United Airlines may start using passenger information to enable targeted ads for its customers on in-flight entertainment systems. More companies with robust customer data are exploring this new channel for advertising revenue. |
Shell | Oil Spill Damage Shell faces its second environmental lawsuit in Nigeria this year as 13,000 fishermen claim oil pollution devastated their communities. The oil giant has considered leaving the oil-rich region amidst growing pushback from frequent spills. |
Amazon | Cyber Strikes One of the largest labor unions in Spain is planning a strike for Amazon warehouse and delivery workers. Amazon workers across the US and Europe have planned strikes for improved labor safety, increased human resources staff, and higher wages. |
Macy's | Holiday Walkouts Hundreds of Macy's workers in Washington took part in a three-day strike over the holiday promotional weekend seeking better wages and labor practices. Black Friday is one of the most profitable days of the year for the department store. |
Intel | Green Commitment Intel pledged to achieve net-zero greenhouse gas emissions in its supply chain by 2050 by helping its suppliers switch to renewable energy and minimize pollution. Nearly a quarter of the chip-maker's emissions originate from its suppliers. |
(These links only work for 24 hours while the story is live.)
Inside Scoop 🤓
What should I know about carbon neutral vs. net zero?
More companies are setting net-zero emissions and carbon-neutral targets to reduce their impact on climate change and minimize the volume of harmful greenhouse gases emitted into the atmosphere from their operations, supply chain, and products. While the terms are often colloquially interchangeable, they have slightly different meanings.
Carbon neutral means the company removes as much carbon dioxide from the atmosphere as it emits yearly. Net-zero takes it a step further, broadening from just carbon to all greenhouse gases like methane or sulfur dioxide and restricting the use of carbon offsets. This means net-zero companies must reduce their emissions, not just counteract them by purchasing financial instruments that direct money to carbon-negative projects like tree planting.
Reply