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Hey friends, hope you had a fun and restful long weekend.
Here's what you need to know today...
Big Picture
The economy rebounded to start the year.
Fewer people are buying homes.
Home prices are still high.
The Market: ā¬ļø-2.0%
S&P 500: 3,997.341Mo: -1% | 1Yr: -7% | 5Yr: +46%
The market had its worst day in a while as investors worried about inflation again. The economy rebounded significantly to start the year - more business activity, shopping, and hiring. That makes investors fear the economy will overheat again and reignite inflation.
Business activity picked up in February to its highest level in eight months. S&P Global's index tracking the manufacturing and services sectors indicated an expansion for the first time since last summer. It's the latest in a series of indicators pointing to a rebound in 2023.
The housing market is still slowing. The National Association of Realtors reported the number of existing homes sold fell in January for the twelfth straight month as high prices and high mortgage rates make homes less affordable. The median price for an existing home still increased by 1.3% to $359,000, despite the drop in sales. Supply is very low.
Company Scoops š£ļøšš°
Click to dig in & vote your reaction, see how others feel
Moderna's flu vaccine trials underwhelm
John Deere says the farming economy is strong
Home Depot puts $1B towards higher wages
Amazon invests in seaweed carbon capture [š¤]
Walmart's worried about strained shoppers
(These links only work for 24 hours while the story is live)
Inside Scoop š¤
Carbon Capture
Carbon capture is one of the most commonly-cited solutions for reducing carbon emissions by the fossil fuel and industrial production sectors. The process entails using technology or plants to pull greenhouse gases directly from of the air or water.
Many carbon capture projects focus on planting or preserving forests, mangroves, or other plants to convert carbon dioxide into oxygen from the air more broadly. Direct Carbon Capture technology sucks the greenhouse gases out of the air where the emissions are created, like at a factory or refinery.
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