Today's Scoop:

Hey friends - hope the week is off to a good start! Catch up with our last Weekly Scoop, and don’t miss our Explained about lawmakers’ criticism of corporate diversity initiatives.

FYI from the Founder: There will be no scoops next week, starting July 30th. I’ll be taking a little break to get married.

Here’s what you need to know today…

1. Unemployment is extremely low, especially for those aged 25-54.

2. The economy weakened a bit in July.

3. This will be a big week for corporate financial reports and economic policy.

S&P 500: 4,554.64
1Mo: +5% | 1Yr: +15% | 5Yr: +62%

The market inched higher again today as investors maintained their optimism about avoiding a recession.

This will be a big week for corporate financial reports and economic policy. More than a third of America’s biggest corporations will provide updates on their financial performance this week, including Google, Microsoft, and Meta. The Federal Reserve will meet Wednesday to announce its next economic policy move. Investors expect one final interest rate increase.

Unemployment is extremely low, especially for Americans in their prime working years. The June Jobs Report, analyzed by the Wall Street Journal, showed the highest labor force participation from those aged 25 to 54 in over twenty years. The increase in people either employed or looking for jobs was driven heavily by women returning to work.

The US economy weakened a bit in July. S&P Global’s index of economic activity reported a pickup in the manufacturing sector, which has been struggling for months, but a slowdown in services. Consumers shifted from buying stuff to spending on things like travel and experiences, but that may be cooling too.

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• Ford investigated for Chinese partners’ ties to forced labor in Xinjiang

• Gilead sued for delaying safer treatment to extend profits

• Domino’s Pizza sales fall, but ingredients are getting cheaper

• Chevron profits keep sinking as gas prices decline

• American Express raises the first flag of slower spending

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Decoding Earnings Reports - 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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