Today's Scoop:

Hey friends, it's Wednesday. Yesterday was Tuesday. We have it straight now.

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

1. Mortgage rates are rising again.

2. Fewer people are buying homes.

3. Corporate profits are higher than expected.

S&P 500: 3,991.051Mo: -1% | 1Yr: -6% | 5Yr: +45%

The market drifted lower today without much news from economic policymakers. The economy has been holding up better than expected, causing investors to worry about more inflation.

Mortgage rates are rising again. The Mortgage Bankers Association said rates jumped last week to the highest level in months, with the average 30-year fixed-rate mortgage costing 6.62%. The number of people applying for mortgages last week fell by 13% from the week prior. High home prices and expensive mortgage rates have deterred buyers.

Corporations are performing better than feared. Roughly 80% of the biggest 500 companies have given their fourth-quarter financial updates, and 68% have reported higher-than-expected profits.

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

• Tesla investors sue to void Musk's $55B record payday

• Unilever tries to cut emissions with warmer ice cream

• Coinbase continues hibernation through the crypto winter

• United Airlines bets big on Sustainable Aviation Fuels [🤓]

• Rio Tinto signals a slowdown, but ramps up renewables

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

Sustainable Aviation Fuel

Airlines are working on making their flights more sustainable. The aviation industry is responsible for 2-3% of global greenhouse gas emissions.

Sustainable Aviation Fuels (SAFs) are made from sustainable waste products, like feedstocks and agricultural residues, and can reduce emissions by over 80%. Integrating more alternative aviation fuels can help airlines mitigate their environmental impacts.

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