Today's Scoop:

Hey friends, did you catch our deep-dive on the power of food industry giants?

Here's what you need to know today...

1. Consumers are shopping again.

2. US manufacturing activity picked up in January.

3. Home builders are ramping up.

S&P 500: 4,147.601Mo: +4% | 1Yr: -7% | 5Yr: +52%

The market cruised upward today on signs of a strong economy. There was a big rebound in January.

Consumer spending jumped in January. The Commerce Department said retail sales surged by 3.0% last month, the largest jump since March 2021 and a big rebound from the decline in December. People started shopping for furniture, electronics, and cars again. Consumers are the backbone of the economy.

Production at US factories also rebounded significantly last month. The Federal Reserve said manufacturing output jumped 1.0% last month after declining over the holidays. It's a good sign for the economy.

Homebuilders are feeling better. The National Association of Home Builders said US home builder confidence notched its largest monthly gain in nearly a decade outside of spring 2020. Climbing materials costs and high interest rates deterring buyers both sapped interest in new home construction.

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• Tesla faces a union uprising

• Southwest cuts bonuses after its cancelation calamity

• Verizon uses green bonds to ramp up renewables [🤓]

(These links only work for 24 hours while the story is live)

Green Bonds

When companies need extra cash to invest in their business, they can sell shares in their company (stock) or take on debt. That debt can be regular loans from banks, revolving credit facilities like a corporate credit card, or bonds. When companies issue bonds to the public market, they borrow from several investors at once. Each bond is like a tiny loan they have to pay interest on.

Green bonds are a special kind of bond in which the company can only use the money for sustainable projects like renewable energy, waste reduction, or conservation. Green bonds are a relatively new financing type that often comes with better tax treatment or lower rates to incentivize sustainable investment.

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