- Scoops
- Posts
- Today's Scoop:
Hey friend - it’s almost Friday, and then it’s almost Thanksgiving. 🆒
Make sure you’re signed up for premium to receive our Weekly Scoop tomorrow.
Refer one new subscriber to get it for free, or subscribe today to a 7-day trial.
Share your referral link: https://sub.sharescoops.com/subscribe?ref=PLACEHOLDER
Here’s what you need to know today…
Big Picture
Layoffs are rising, and it’s harder to find work.
Low home affordability has slowed construction momentum.
Imported goods have been getting cheaper.
The Market: ⬆️+0.1%
S&P 500: 4,508.24
1Mo: +3% | 1Yr: +14% | 5Yr: +71%
The market drifted sideways today as investors digested more mixed news. Signs of slowing inflation, hiring, and spending could lead policymakers to stop restricting the economy. However, a slowing economy is hard to feel happy about.
Layoffs have been rising, and it seems more difficult to find work. The Labor Department reported initial claims for unemployment benefits rose more than expected last week to 231,000. However, some economists say the seasonal adjustments might be overstating the numbers. Either way, the trend has been higher, and continuing claims, the number of people receiving ongoing benefits, increased for an eighth consecutive week.
Low home affordability has stalled the housing market. The National Association of Homebuilders reported declining homebuilder sentiment for the fourth straight month to the lowest level all year. Mortgage rates have come down from their multi-decade highs last month, but high home prices and expensive mortgages have deterred buyers and dissuaded builders from bringing more homes to market. However, more builders are offering discounts now, particularly in the southern US.
🏠It does not seem like a good time to buy a home. There’s a good chance mortgage rates get a little cheaper as long as inflation keeps trending lower.
Imported goods are getting cheaper, potentially helping prices come down. The Bureau of Labor Statistics reported import prices dropped by the most in seven months in October. Foreign goods are about 2% cheaper than a year ago, thanks mainly to a stronger dollar than international currencies. Prices for food, fuel, and consumer goods all declined. Wednesday’s Producer Price Index revealed a decline in business costs. These things should flow through to help lower price tags for consumers.
How are you feeling about the economy? |
Company Scoops 🗣️🌎💰
💡Join the board at America’s biggest companies. Vote and judge their decisions.
 JPMorgan Chase | Green Ambitions The world's largest fossil fuel lender accelerated its plans to get clients to reduce pollution, setting more ambitious reduction targets for its financed emissions across heavy industries. JPMorgan is already carbon neutral operationally. |
 Toyota | Sustainable Batteries Toyota locked in a critical local battery supplier for its new $14B North Carolina factory that recycles the crucial rare metals for electric and hybrid vehicles. The deal will help the battery startup supply 1 million EVs by 2025. |
 United Parcel Service | Robot Expansion UPS will employ more than 3,000 robots and only 200 humans at its new $79M warehouse in Kentucky, its largest ever, to boost its profitability. The logistics giant says the robots reduce injuries and actually improve employee retention. |
 Walmart | Warning Signs Walmart had another great quarter, growing profits on higher store traffic, more grocery dominance, new subscriptions and advertising revenue, and growing e-commerce sales. The superstore sees more strain on shoppers and hopes to cut prices. |
 Macy's | Improving Operations Macy's has been losing less money than expected despite falling sales by improving its inventory and stocking efficiency. The retailer feels optimistic about holiday sales, but more shoppers have fallen behind on credit card payments. |
(These links only work for 24 hours while the story is live.)
Inside Scoop 🤓
What emissions are the most important?
To decode sustainability pledges, we need to know the terms. As companies set target dates to achieve net-zero greenhouse gas 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. Those are a critical first step. Most big companies have targets for reducing those emissions. The best ones have already neutralized them.
Scope 3 will be much bigger and more important but more challenging to tackle. It includes the Scope 1 & 2 emissions from all of their suppliers, the emissions from using their products, and even things like employee commutes. It's the complete evaluation of how much greenhouse gas is emitted yearly because the company exists. For example, banks’ scope 3 emissions include the pollution from the companies they lend to. They must work with their clients to invest in cleaner energy options to decrease those emissions.
Reply