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=E2=80=A6like warm oatmeal, the Aug= ust jobs report was not too hot, not too cold
<= /tr>
<= /tbody>
Disclosures
<= /tr>
<= /tbody>
 
<= img style=3D"padding-bottom: 24px; width: 100%; max-width: 340px;" src=3D"h= ttps://sg.robinhood.com/ls/click?upn=3D6fntGirSE5selsQKrSSUHhlVHSZUg2RjnmzA= ANAYlJWW-2BL3K615wI-2BBU-2B7gW0-2Bz3TpVEUpX2Y3nV47Kzbx7EGbJtU5McnMaQbZNBC4b= wj3g-3D3KTJ_y6r4Y-2Fjyz39fUgiIVZvxszI1-2BOksX762wK6L32M97xgJ-2FnBU-2Fpq1oGU= BER66ULtncbIT3DUdsUObewmfARLuyDJij8TptKaomwNwXYGMucEpY09PnU1ylszxToZSgA6bDE= ZApoSsJqEY-2Bh65KwuYsWtNifFkK1IGTxNFj7fv613h1BWsCthqaB0ec5K5QmpdbM0vGjAxZ05= KLN5jyi0HrLUa4dGo3UE7DWaOq3ga5skoJGlMZa2zKzDg4dQsNpH4cVt4-2FxbvmNiJGgoPVPKj= B54jvnTepmVnlxksCC81217aHF2rGCyV78B08WzFl1VMPtLD7iRbOn-2FVpUEnkATVNpI-2BAKo= Dle-2BLE5pByDRHmtC9hpQ0hJ-2FuxCSa43nKGMNaiOATHgYoqaN-2BkRqTvxBf-2F26HVpLnsW= -2BYQmmyXiiYEr7zJ6qVw88K0H10ssAYLAaqSu-2FlOacIkLkPEfsLlO-2FkyohHbUU5YISdXw1= 7FZUryO5peqjADkKf9WwkfLfUFV2YF35mCor72F0XHSz6xJr3bcnJHZ6uxJgEHisKwJReWAL4H4= e8P2WjvVbwhqklzhnaEgpJZofpXBYxtxDDH8irJWu84BB1IeN4aq5-2B4GnNjwoMCFjo3h78IVr= 8891cQE6odyFv9jnG089rg56-2BC0yYlQ-3D-3D width=3D"420">
<= p>Breakfast temp: just right (Paul Bersebach/Getty Images)

 
<= td align=3D"center" style=3D"font-size:0px;padding:10px 25px;word-break:bre= ak-word;">
Last Week=E2=80=99s Mark= et Moves
 
Nasdaq
11,631 (-4.21%)
Dow J= ones
31,318 (-2.99%)		S&P 500
3,924 (-3.29%)		Bitco= in
$19,983 (-1.12%)
<= /tr>
Dow Jones
31,318 (-2.99%)		S&P 500
3,924 (-3.29%)
Na= sdaq
11,631 (-4.21%)		Bitcoin
$19,983 = (-1.12%)
<= tr>
<= /table>
<= tbody><= td align=3D"center" class=3D"light" style=3D"font-size:0px;padding:10px 25p= x;padding-top:24px;padding-right:0;padding-bottom:24px;padding-left:0;word-= break:break-word;">

Hey Snackers,

TSA had a field day= when it had to check an unusual flier through security: a bald eagle. Just don=E2=80=99t ask him to take off his talons (= #hawk-ward).

Friday's well-received jobs report wasn't enough= for the major US indexes, all of which closed down 3% or more last week ah= ead of the Labor Day holiday weekend. Stocks did a U-turn on Friday after R= ussia indefinitely suspended natural-gas flows to Eu= rope =E2=80=94 and stoked energy fears.

A few quick q=E2=80= =99s for you! We might be surfacing some relevant products in the = future and are curious to hear what categories you=E2=80=99re most interest= ed in learning about. If you=E2=80=99d like to share your thoughts, check o= ut our two-minute survey.

Btw... Do you want to start getting Snacks daily? Or prefer t= o unsubscribe? Manage your subscription preferences here.
Werk
<= /table>

The =E2= =80=9Cgoldilocks=E2=80=9D August jobs report is warm enough to satisfy inve= stors, but a bigger slowdown could be ahead

Post-Labor Day labor update... While you were packing coo= lers and beach towels for the unofficial "last weekend of summer,"= ; the Labor Department was packing stats. The August jobs report showed slowing job and wage gro= wth =E2=80=94 but a still historically strong labor market.

  • T= he US added 315K jobs, slightly lower than expected and the lowest= monthly gain since April 2021. FYI: in July the US gained 526K roles.
    • =
  • The unemployment rate jumped to 3.7% from 3.5% in July, mostly because more people started looking= for work.
  • Average hourly ea= rnings grew 5.2% from a year earlier, slowing from July's pace= .

    • Investors are eating the porridge... Some ar= e calling this a "goldilocks" report because it's not too hot= , not too cold (but juuust right). While the labor market is cooling, job g= rowth is still way higher than prepandemic levels, and unemployment is just= off its half-century low of 3.5%.

      Bad news =3D good news in this inflationary economy. Investors were relieved jobs didn=E2=80= =99t come in too hot, which could compel the Fed to be more aggro with rate= hikes.
    • Terrible news =3D ba= d news. Investors were relieved labor didn=E2=80=99t slow too<= /em> much, suggesting the Fed=E2=80=99s flation-fighting hasn=E2=80=99t gon= e too far (yet).
    • Still: While job openings outnumber available workers nearly 2-to-1, layoffs = are making headlines. Ford, T-Mobile, Wayfair, and = Snap have all announced cut= s.
    = THE TAKEAWAY

    Pain=E2=80=99s more bearable when it=E2= =80=99s predictable=E2=80=A6 This report keeps the Fed on track to= raise interest rates by 0.75 or 0.5 percentage points this month. Fed chai= r Jerome Powell said he= plans to keep hiking till inflation=E2=80=99s under control. While gas and= food prices have come down, they=E2=80=99re still near 40-year highs. JPow= did warn there=E2=80=99s economic and labor-market pain ahead. It takes ti= me for all the consequences of higher rates to manifest, but expectations o= f pain could help reduce market shocks.

    =
    Zoom Out
    =
    <= /table>

    Stories we=E2=80=99re watching...

    The great American battery boom=E2=80=A6 Companies are inves= ting billions in the US battery biz, and it=E2=80=99s all for EVs: last wee= k Honda and LG Energy announced plans to build a $4.4B US EV battery plant, Toyota pledged an extra $2.5B= to its US battery factory, and Bosch said it'll spend= $200M to build fuel cells in South Carolina. GM, Stellantis, and Hyundai have committed b= illions to made-in-USA batteries, taking advantage of billions in EV fundin= g through President Biden=E2=80=99s infrastructure and climate bills to gai= n juice in the e-race.

    Congress has crypto q=E2=80=99s=E2=80= =A6 The SEC's not the only one demanding answers from crypto's top players. Last = week the House Committee on Oversight and Reform sent letters to FTX, <= strong>Binance, and Coinbase asking how they=E2=80=99re protecting customers from= scams (industry-wide, $1B+ has been reported stolen since 2021). The commi= ttee also hit up regulators and the Treasury Department to find out what th= ey=E2=80=99re doing to keep consumers safe. Reply due date: September 12. M= eanwhile, a bill to regulate stablecoins is heading to the CA governor'= s desk. Legislators may be done sitting on the sidelines.

    =
    Events
    <= /table>
    =

    Coming up this week...

    Canned= peas FTW=E2=80=A6 Budgets are tight, but America still has to eat= . Kroger had a record= year in 2021 and sales jumped again last quarter as buyers kept stocking u= p on fresh veggies despite hot prices. Kroger=E2=80=99s online sales have d= oubled in the past two years, and its shares have risen 7% this year while = the S&P 500 has slid 18%. But soaring grocery prices have made it seem = (relatively) less inexpensive for some to dine out, which could push some s= hoppers to ditch grocery stores for fast-food joints. We=E2=80=99ll see if = inflation is biting Kroger=E2=80=99s profits when it reports Friday.

    = Lots of balls in the air=E2=80=A6 It=E2=80=99s a big week = for pro sports. The NFL season kicks off Thursday and the US Open finishes = Sunday. But today a lot of athletes earn more off the field: Seren= a Williams, who just played her final match, has earned $95M in career priz= es =E2=80=94 and $350M from sponsors. Billionaire LeBron James has earned t= wice as much from investments and endorsements as he has from his NBA salar= y. As the celeb-prenuer trend intensifies, Serena, LeBron, and NFL stars li= ke Aaron Rodgers have also launched their own VC funds.

    =
    ICYMI
    <= /table>

    Last week's highlights...

    • Yoda: Disney=E2=80=99s reportedly exploring a = Prime-style membership to give Mickey fans special perks and cross-sell its= offerings across streaming, merch, and theme parks.
    • Suds: B= ed Bath & Beyond shares tanked last week after the cash-ne= edy retailer said it would slash costs by closing 150 stores and cutting 20= % of workers.
    • Fluffy: Petco and Chewy said pet owners aren=E2=80=99t trading dow= n on fancy foods for their furries. Despite #flation, owners are splurging = on gourmet meals (think: doggy Clif bars).
    What = else we're Snackin'
    • Rekt: E= l Salvador's crypto-loving president made bitcoin a national currency last year. After he repo= rtedly bought $100M worth of BTC (now down 60%), analysts worry it could ba= nkrupt the country.
    • Sped: The Fed's getting faster. The US central bank has a summer 2023 la= unch date for its nearly instant FedNow payment system. The long-awaited up= date should make transfers and paychecks available 24/7.
    • Pop: Experts say China's property market, = which accounts for up to 30% of its GDP, might implode as real-estate price= s tank. Still, analysts say a full-fledged economic meltdown is unlikely.
    <= tbody>
    <= /tr><= /table>
    Want your Snacks daily?
    The Daily Newsletter
    Get fresh takes on financial news every week day. Try a = sample:

    =F0=9F=8E=A1 Disney=E2=80=A6 Prime? =E2=80=A2 Se= p 2, 2022
    =F0=9F=9B=81 Bed Bath=E2=80=99s cash crunch =E2=80=A2 S= ep 1, 2022
    =F0=9F=87=A8=F0=9F=87=B3 China=E2=80=99s property pan= ic =E2=80=A2 Aug 31, 2022

    Snack Fact Of the Day
    The International Space Station is closer to Ea= rth than San Francisco is to LA (and there=E2=80=99s way less traffic)
    =

    = <= /table>
    This Week
      Tuesday: Earnings expected= from UiPath and GitLab
    • Wednesday: Earnings expected from Nio, GameStop, and Asana
    • Thursday: Jobless cl= aims. Earnings expected from Zscaler, DocuSign, FuelCell Energy, and National Beverage
    • Friday: Earnin= gs expected from Kroger

    Authors of this Snacks= own: bitcoin and shares of Disney, GM, AT&T, Ford, and Snap

    ID: = 2410552

    =
    Robinhood Snacks newsletters reflect the opinions = of only the authors who are associated persons of Robinhood Financial LLC (= Member SIPC) and do not reflect the view= s of Robinhood Markets, Inc. or any of its subsidiaries or affiliates. They= are for informational purposes only, and are not a recommendation of an in= vestment strategy or to buy or sell any security, digital asset (cryptocurr= ency, etc) in any account. They are also not research reports and are not i= ntended to serve as the basis for any investment decision. Any third-party = information provided therein does not reflect the views of Robinhood Market= s, Inc., Robinhood Financial LLC, or any of their subsidiaries or affiliate= s. All investments involve risk including the loss of principal and past pe= rformance does not guarantee future results.
    To unsubscribe from all commercial emails, click here
    <= /td>
    --4e69e50caf998a37b7335e973f8e11416ae650b206b020ba44679733ad40 Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset=utf-8 Mime-Version: 1.0
    =E2=80=A6like warm oatmeal, the Aug= ust jobs report was not too hot, not too cold
     
    <= !--[if mso | IE]>

    Breakfast temp: just right (Paul= Bersebach/Getty Images)

     = ;
     
    Last Week=E2=80=99s Market Moves
    Dow Jones
    31,318 (-2.99%)<= /span>    		S&P 500<= br>3,924 (-3.29%)Nasdaq
    11,631 (-4.21%)    		Bitcoin
    $19,983 (-1.12%)
    Dow Jones
    31,318 = (-2.99%)    		S&P 500
    3,924 (-3.29%)
    Nasdaq
    11,631 (-4.21%)    		Bitcoin$19,983 (-1.12%)
    <= /table>

    Hey= Snackers,

    TSA had a field day when it had to check an unusu= al flier through security: a bald eagle. Just don=E2=80= =99t ask him to take off his talons (#hawk-ward).

    Friday's well-r= eceived jobs report wasn't enough for the major US indexes, all of whic= h closed down 3% or more last week ahead of the Labor Day holiday weekend. = Stocks did a U-turn on Friday after Russia indefinitely suspended natural-gas flows to Europe =E2=80=94 and stoked energy fears.

    A few quick q=E2=80=99s for you! We might be surfacing some r= elevant products in the future and are curious to hear what categories you= =E2=80=99re most interested in learning about. If you=E2=80=99d like to sha= re your thoughts, check out our two-minute survey= .

    Btw... Do you want to start= getting Snacks daily? Or prefer to unsubscribe? Manage your subscription p= references here.

    3D""
    Werk
    <= div style=3D"background:rgb(255, 255, 255);background-color:rgb(255, 255, 2= 55);margin:0px auto;max-width:600px;">
    <= /table>

    The =E2=80=9Cgoldilocks=E2=80=9D August jobs report is w= arm enough to satisfy investors, but a bigger slowdown could be ahead

    Post-Labor Day labor update... = While you were packing coolers and beach towels for the unofficial "la= st weekend of summer," the Labor Department was packing stats. The Aug= ust jobs report show= ed slowing job and wage growth =E2=80=94 but a still historically s= trong labor market.

    • The US added 315K jobs, slightly low= er than expected and the lowest monthly gain since April 2021. FYI: in July= the US gained 526K roles.
    • T= he unemployment rate jumped to 3.7% from 3.5% in July, mostly beca= use more people started looking for work.
    • Average hourly earnings grew 5.2% from a year earlie= r, slowing from July's pace.

    Investors are eating t= he porridge... Some are calling this a "goldilocks" repo= rt because it's not too hot, not too cold (but juuust right). While the= labor market is cooling, job growth is still way higher than prepandemic l= evels, and unemployment is just off its half-century low of 3.5%.

    • = Bad news =3D good news in this inflationary economy. Investor= s were relieved jobs didn=E2=80=99t come in too hot, which could compel the= Fed to be more aggro with rate hikes.
    • Terrible news =3D bad news. Investors were relieved lab= or didn=E2=80=99t slow too much, suggesting the Fed=E2=80=99s flat= ion-fighting hasn=E2=80=99t gone too far (yet).
    • Still: While job openings outnumber available = workers nearly 2-to-1, layoffs are making headlines. Ford, T-Mobile, Wayfair, and Snap have all announce= d cuts.
    <= td style=3D"padding: 0 8px 0 0; height: 17px;">=
    THE TAKEAWAY

    Pain=E2=80=99s more bearable w= hen it=E2=80=99s predictable=E2=80=A6 This report keeps the Fed on= track to raise interest rates by 0.75 or 0.5 percentage points this month.= Fed chair Jerome Powell sai= d he plans to keep hiking till inflation=E2=80=99s under control. While= gas and food prices have come down, they=E2=80=99re still near 40-year hig= hs. JPow did warn there=E2=80=99s economic and labor-market pain ahead. It = takes time for all the consequences of higher rates to manifest, but expect= ations of pain could help reduce market shocks.

    =
    Zoom Out
    =
    <= /table>

    Stories we=E2=80=99re watching...

    The great American battery boom=E2=80=A6 Companies are inves= ting billions in the US battery biz, and it=E2=80=99s all for EVs: last wee= k Honda and LG Energy announced plans to build a $4.4B US EV battery plant= , Toyota pledged an extra $2= .5B to its US battery factory, and Bosch said it'll sp= end $200M to build fuel cells in South Carolina. GM, Stellantis, and Hyundai have committed billions to made-in-US= A batteries, taking advantage of billions in EV funding through President B= iden=E2=80=99s infrastructure and climate bills to gain juice in the e-race= .

    Congress has crypto q=E2=80=99s=E2=80=A6 The SEC&#= 39;s not the only one demand= ing answers from crypto's top players. Last week the House Committe= e on Oversight and Reform sent letters to FTX, Binance, and Coinbase asking how they=E2=80=99re prote= cting customers from scams (industry-wide, $1B+ has been reported stolen si= nce 2021). The committee also hit up regulators and the Treasury Department= to find out what they=E2=80=99re doing to keep consumers safe. Reply due d= ate: September 12. Meanwhile, a bill to regulate stablecoins is heading to = the CA governor's desk. Legislators may be done sitting on the sideline= s.

    =
    Events
    <= /table>

    Coming up this week...

    Canned= peas FTW=E2=80=A6 Budgets are tight, but America still has to eat= . Kroger had a record year= in 2021 and sales jumped again last quarter as buyers kept stocking up on = fresh veggies despite hot prices. Kroger=E2=80=99s online sales have double= d in the past two years, and its shares have risen 7% this year while the S= &P 500 has slid 18%. But soaring grocery prices have made it seem (rela= tively) less inexpensive for some to dine out, which could push some shoppe= rs to ditch grocery stores for fast-food joints. We=E2=80=99ll see if infla= tion is biting Kroger=E2=80=99s profits when it reports Friday.

    Lots of balls in the air=E2=80=A6 It=E2=80=99s a big week for p= ro sports. The NFL season kicks off Thursday and the US Open finishes Sunda= y. But today a lot of athletes earn more off the field: Serena Wil= liams, who just played her final match, has earned $95M in career prizes = =E2=80=94 and $350M from sponsors. Billionaire LeBron James has earned twic= e as much from investments and endorsements as he has from his NBA salary. = As the celeb-prenuer trend intensifies, Serena, LeBron, and NFL stars like = Aaron Rodgers have also launched their own VC funds.

    =
    ICYMI
    <= /table>

    Last week's highlights...

    • Yoda: Disney=E2=80=99s reportedly exploring a Prime-= style membership to give Mickey fans special perks and cross-sell its offer= ings across streaming, merch, and theme parks.
    • Sud= s: Bed Bath & Beyond shares tanked last week after the cash-needy retailer said it would= slash costs by closing 150 stores and cutting 20% of workers.
    • Fluffy: Petco and Chewy said pet= owners aren=E2=80=99t trading down on fancy foods for their furries. Despi= te #flation, owners are splurging on gourmet meals (think: doggy Clif bars)= .

    What = else we're Snackin'
    • Rekt: El Salvador's crypto-loving president made bitcoin a national currency last = year. After he reportedly bought $100M worth of BTC (now down 60%), analyst= s worry it could bankrupt the country.
    • Sped: The Fed's getting faster. The US central bank has a= summer 2023 launch date for its nearly instant FedNow payment system. The = long-awaited update should make transfers and paychecks available 24/7.
    • Pop: Experts say China's property ma= rket, which accounts for up to 30% of its GDP, might implode as real-estate= prices tank. Still, analysts say a full-fledged economic meltdown is unlik= ely.
    <= /table>
    =
    Want your Snacks daily?
    The Daily Newsletter
    Get fresh takes on financial news= every week day. Try a sample:

    =F0=9F=8E=A1 Disney=E2=80=A6 Prime?= =E2=80=A2 Sep 2, 2022
    =F0=9F=9B=81 Bed Bath=E2=80=99s cash= crunch =E2=80=A2 Sep 1, 2022
    =F0=9F=87=A8=F0=9F=87=B3 China=E2= =80=99s property panic =E2=80=A2 Aug 31, 2022

    Subscribe to the Daily
    <= /table>
    Snack Fact Of the Day
    The International Space St= ation is closer to Earth than San Francisco is to LA (and there=E2=80=99s w= ay less traffic)

    =
    = <= /table>
    This Week
      Tuesday: Earnings expected= from UiPath and GitLab
    • Wednesday: Earnings expected from Nio, GameStop, and Asana
    • Thursday: Jobless cl= aims. Earnings expected from Zscaler, DocuSign, FuelCell Energy, and National Beverage
    • Friday: Earnin= gs expected from Kroger

    Authors of this Snacks= own: bitcoin and shares of Disney, GM, AT&T, Ford, and Snap

    ID: = 2410552

    =
    Robinhood Snacks newsletters reflect the opinions = of only the authors who are associated persons of Robinhood Financial LLC (= Member SIPC) and do not reflect the views of Ro= binhood Markets, Inc. or any of its subsidiaries or affiliates. They are fo= r informational purposes only, and are not a recommendation of an investmen= t strategy or to buy or sell any security, digital asset (cryptocurrency, e= tc) in any account. They are also not research reports and are not intended= to serve as the basis for any investment decision. Any third-party informa= tion provided therein does not reflect the views of Robinhood Markets, Inc.= , Robinhood Financial LLC, or any of their subsidiaries or affiliates. All = investments involve risk including the loss of principal and past performan= ce does not guarantee future results.
    <= div class=3D"disclosureLinks">Robinhood Terms and Conditions=  =E2=80=A2 Disclosu= re Library =E2=80=A2 Our Editorial Principles = ;=E2=80=A2 Conta= ct Us =E2=80=A2 FAQ
    To unsu= bscribe from all commercial emails, click here
    --4e69e50caf998a37b7335e973f8e11416ae650b206b020ba44679733ad40--