Today's Scoop:

Hey friends, here's what you need to know today...

1. Mortgage rates are the lowest they've been in five months.

2. First-time homebuyers are still struggling with affordability.

3. Corporate profits have been better than feared.

S&P 500: 4,117.861Mo: +6% | 1Yr: -10 | 5Yr: +57%

The market dipped lower today amidst more uncertainty. Parts of the economy have stayed stronger than expected. That strength could mean no recession, or it could mean more inflation ahead.

Mortgage rates continue to fall slowly. The Mortgage Bankers Association said the average 30-year mortgage rate fell to 6.18% last week, the lowest level in five months. The average home price is going higher, though, now $428,500. They're seeing indications of lower first-time homebuyer activity as they struggle with affordability.

Corporations are doing better than feared. We're 60% of the way through fourth-quarter financial updates, and 70% of companies have reported higher profits than investors expected, according to Refinitiv.

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• Wells Fargo pays for massive auto insurance scandal

• Uber notches its best year

• Zoom CEO cuts salary 98% amidst layoffs

• Yum Brands benefits from Taco Bell lovers

• Chipotle warns of a slowdown

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Top & Bottom Line

Investors and commentators will often evaluate a company's top-line and bottom-line growth statistics.

Top line refers to the company's gross sales or revenue, essentially how good the company is at bringing in money.

Bottom line refers to net income or profits after accounting for all of the company's expenses, indicating how strong the company is at managing its operational costs. The terms come from the figures' location on the income statement in the company's financial reports.

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