Today's Scoop:

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

1. Small businesses are feeling pessimistic.

2. The global economy is headed for a slowdown.

3. Used car prices have come down a lot.

S&P 500: 3,919.251Mo: -2% | 1Yr: -17% | 5Yr: +41%

The market floated higher without much major news. Investors are waiting for the important inflation report on Thursday. More signs of cooling inflation might make the Federal Reserve lighten up on the economy. [🤓]

The World Bank warned of a slowing global economy. The institution cut its forecasts for economic production across the world, predicting the weakest economic growth in the US in fifty years outside of recessions.

Small businesses are pessimistic. The National Federal of Independent Business' Small Business Optimism Index marked the 12th straight month below average. Companies are struggling with rising costs and finding quality staff.

Used car prices are down 10% from a year ago, according to automotive data firm Cox Automotive. Shoppers turned to used cars during the pandemic while disrupted supply chains backed up new car production.

Click to dig in & vote your reaction, see how others feel

• Tesla loses battle against another racial discrimination case

• Bed Bath & Beyond slashes jobs in face of bankruptcy

• Wells Fargo gives up on the mortgage market

• Meta dials back targeted ads to teens

• Rivian loses several top executives

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

Earnings Season

Public companies are required to report on their financial health every quarter. We get to take a look at their sales, expenses, and profits (aka earnings). The few weeks after the end of the quarter, when most companies give their reports, is called earnings season. It's an absolute rush!