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Hey friends, hope you had an excellent weekend.
Here's what you need to know today...
Big Picture
Living costs aren't rising as quickly anymore.
Incomes are catching up to living costs, very slowly.
High prices are making people spend less.
The Market: ⬇️-1.3%
S&P 500: 4,017.771Mo: +5% | 1Yr: -11% | 5Yr: +45%
The market sank lower today as investors worried about the slew of important economic data to be released this week and the Federal Reserve's next policy announcement on Wednesday.
Living costs aren't rising as quickly anymore. The Commerce Department reported Friday that the Personal Consumption Expenditures (PCE) Price Index, the main inflation gauge for the policymakers, rose only 0.1% in December. Prices are still up 5% over the past year.
Wages aren't rising as quickly anymore, either, but they're slowly catching up to living costs. Disposable personal income, adjusted for inflation, rose for the third month.
High prices are eating into shoppers' budgets. Consumers are the backbone of the economy, and consumer spending, adjusted for inflation, dropped for the second straight month in December.
Company Scoops 🗣️🌎💰
Click to dig in & vote your reaction, see how others feel
Toyota's could be in for a big EV strategy shift under new CEO
Chipotle plans to hire 15,000 and expand
Goldman Sachs cuts CEO pay
Wells Fargo keeps CEO pay steady
JPMorgan slashes CEO pay after investor pressure[🤓]
(These links only work for 24 hours while the story is live)
Inside Scoop 🤓
Proxy Voting & Shareholder Pressure
Shareholders have the power to pressure corporate executives to change policy through proxy voting. If you're a direct shareholder, you can vote on corporate governance decisions, weighing in on executive pay, mergers, and other strategic changes.
Any investor with at least $2,000 of value in a public company can also submit their own proposal for other shareholders to vote on. Typically, these proposals are non-binding, acting more as suggestions to the company that it takes under consideration. You usually only get to vote when you own direct shares. If you own a fund, your vote goes to the fund's asset manager, like BlackRock or Vanguard. Those financial institutions tend to be deciding factors in these voting processes.
You may have noticed we've changed things up a bit in this newsletter. We're updating our tech as we prepare our app for public release to make sure we can keep delivering scoops and getting your opinions heard across multiple channels.
We're integrating the referrals with our app to provide even more rewards for recruiting for this community - unlocking educational content, tools, events, special features, digital assets, and more!
Don't wait to secure your spot on the beta waitlist for early access and free gear!
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