Today's Scoop:

Shaky šŸŒ„ļø

Hey friends - hope you're making it through the dense week. Here's what you need to know today...

Big Picture

  1. There are still plenty of available jobs.

  2. US business activity is slowing.

  3. High mortgage rates are deterring home buyers.

The Market: ā¬†ļø+0.8%

S&P 500: 3,852.971Mo: -4% | 1Yr: -18% | 5Yr: +40%

The market drifted upward today without much great news.

Layoffs are picking up, but there are still plenty of available jobs. The Job Openings and Labor Turnover Survey indicated more than 10 million available jobs across the economy, nearly two open positions for every unemployed worker. The number of people quitting increased.

High mortgage rates are deterring buyers. The Mortgage Bankers Association reported new mortgage applications reaching the lowest level since 1996 last week. The average 30-year mortgage rate is up to 6.6%.

US manufacturing activity is slowing down, pointing to a weaker economy. Following a similar report yesterday, the ISM Manufacturing Index contracted for the second month in December. Only 48% of companies are expanding.

Company Scoops šŸ—£ļøšŸŒŽšŸ’°

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Inside Scoop šŸ¤“

Different scope emissions

As companies set target dates to achieve net-zero emissions, they'll be setting emission reduction targets for their Scope 1 (direct), Scope 2 (power-related), and Scope 3 (indirect) emissions.

Scope 1 & 2 result from its core operations and the power it purchases to support those operations.

Scope 3 will be much bigger and more important but harder to tackle. It includes the Scope 1 & 2 emissions from all of their suppliers, the emissions from their products, and even things like employee commutes. It's basically the full evaluation of how much greenhouse gas is emitted each year because the company exists.

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