😏 Not today, US recession

The US is working hard | DoorDash's dashing results | [TOGETHER WITH]( Hi {NAME}, here's what you need to know for August 8th in 3:03 minutes. 💵 There’s about $11 billion locked up in DAO treasuries, and about a million – give or take – ways for you to profit from them. Join Messari’s Eshita Nandini for [A Case For DAO Treasury Diversification]( on Tuesday, and find out how you can get a piece of that billion-dollar pie. [Grab your free ticket]( Today's big stories - A relentlessly successful US jobs market is only making inflation worse - Some of the world’s biggest investors have laid out where you should be investing right now – [Read Now]( - DoorDash continued to show that it didn’t need lockdowns last quarter The US Jobs Report Laughs In The Face Of Recession [The US Jobs Report Laughs In The Face Of Recession] What’s Going On Here? Data out on Friday [showed]( that the US economy added far more jobs than expected last month. What Does This Mean? The US government euphemistically dismissed the [arrival]( of a technical recession last week as a “transition to a lower footing”, which is the equivalent of saying that going bald is a “transition to a lower hair count”. Call it what you want, but the slowdown was still expected to impact the country’s workforce in July. So imagine everyone’s surprise when it didn’t: the US added 528,000 jobs – more than twice the 258,000 expected, and well ahead of the already impressive 388,000 average gain of the past four months ([tweet this](). Consider too that the number of people either in or looking for work dropped yet again, meaning the unemployment rate fell to 3.5% – tied for the lowest it’s been since 1969. Why Should I Care? For markets: Nothing can stop the Federal Reserve. The Federal Reserve mainly focuses on two aspects of the economy in its decision-making: the jobs market and inflation. So the fact that the former is so strong gives the central bank more leeway to keep being tough on the latter. More incentive too: last month’s higher-than-expected wage growth will give people more disposable income, while increased competition for a smaller pool of workers will only drive wages higher still. That might be why even more traders are now betting on a third-straight 0.75% hike in September. Zooming out: Don’t be fooled. You don’t need to go far to find less favorable signs for the global economy: data out last week showed that global chip sales growth – a good indicator of demand since they’re used in everything from cars to computers – has now fallen for six straight months. That’s the longest drop-off since the US-China trade war in 2018, and it’s yet another foreboding sign that a global recession is right around the corner. You might also like: [What Goldman’s recession manual is telling us about this recession.]( Copy to share story: [( 🙋 [Ask a question](mailto:questions@finimize.com?body=Ask us a question: Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=The US Jobs Report Laughs In The Face Of Recession&utm_campaign=daily-global-08-08-2022&utm_source=email) Analyst Take Where To Invest Right Now, According To Industry Experts [Where To Invest Right Now, According To Industry Experts]( [Photo of Carl Hazeley] Carl Hazeley, Analyst US stocks have had a better-than-expected run this earnings season, with the S&P 500 [climbing 9%]( in July. And if that’s inspired you to buy back into stocks, you might want to start by looking at [where some of the world’s biggest investors are investing](. G-Squared Private Wealth, for example, recommends a conservative approach to buying US stocks, while UBS has its eye on [a couple of different sectors](. That’s today’s Insight: [four stock market ideas from some of the world’s leading investors](. [Read or listen to the Insight here]( SPONSORED BY CHANGE Stake your way through the crypto winter Crypto isn’t at its hottest right now, sure, but staking could still add some fire to your portfolio. You can now stake [five major coins]( – cardano, polkadot, tezos, kava, cosmos – with [Change](, so you can [choose the yield]( that best suits your goals and portfolio. You can get started with just a few taps, then you’ll start seeing [rewards automatically land]( in your account every single day. And as your balance grows, so will your [daily returns](. Change doesn’t [lock up your funds]( while you stake either, so you’ll have total flexibility and [control over your crypto]( all the time – unlike with most other exchanges. [Take control of crypto today.]( [Check It Out]( Change’s Terms & Conditions apply and can be read at www.changeinvest.com DoorDash Racks Up The Records [DoorDash Racks Up The Records] What’s Going On Here? US food delivery app DoorDash [posted]( a bevy of all-time highs late last week. What Does This Mean? There were concerns – entirely legitimate ones – that both rising inflation and the post-pandemic novelty of open restaurants would drag on demand for takeout last quarter, but DoorDash didn’t see any such signs. In fact, it boasted a laundry list of records: a record number of users, a record value of orders, and record monthly subscriptions from over 10 million members – nearly half its roughly 25 million monthly active users. Throw in a strong showing from the Finnish delivery platform it bought late last year, and DoorDash’s overall revenue rose by a better-than-expected 30%. You can hardly blame investors for getting carried away after an update like that: they sent its shares up 20%. Why Should I Care? The bigger picture: This is DoorDash’s town. DoorDash made the most of the early lockdowns, getting a foothold in the American suburbs and quickly establishing itself as the dominant meal delivery service in the country. And it’s only grown its market share since then: the company was responsible for 59% of all US food delivery sales in May, according to data from Bloomberg Second Measure. And now, it's expanding into other services like convenience store items, groceries, and alcohol, which could see it extend its lead over the likes of Grubhub and Uber Eats even more. Zooming out: The gig isn’t up just yet. Multiple gig economy companies seem to be trouncing analysts’ post-pandemic expectations, with Lyft [posting]( its highest-ever quarterly profit last week thanks to strong demand and savvy cost-cutting. But while the ride-hailing giant said it was expecting more trips this quarter as the new school year kicked off, it did warn that higher insurance costs could hit its profit growth in the rest of the year. You might also like: [Is DoorDash a good investment?]( Copy to share story: [( 🙋 [Ask a question](mailto:questions@finimize.com?body=Ask us a question: Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=DoorDash Racks Up The Records&utm_campaign=daily-global-08-08-2022&utm_source=email) 💬 Quote of the day “I feel that there is nothing more truly artistic than to love people.” – Vincent Van Gogh (a Dutch Post-Impressionist painter) [Tweet this]( SPONSORED BY YONDER Aren’t vacations meant to be relaxing? The trip you’ve been waiting for should start with a cocktail at the pool, not a delay in the airport. But since holidaymakers are contending with everything from canceled flights to lost luggage at the moment, you’ll want to [make sure you’re covered]( for the worst-case scenario. You can get [worldwide travel protection]( for your family with [Yonder](, which covers you for flight cancellations, delays, and medical expenses – with [no excesses]( when you claim, either. Your [Yonder credit card]( will also get you some hand-picked rewards, purchase protection, [Mastercard Priceless benefits](, and 24/7 customer support. Oh, and no foreign exchange fees. [Get your first 3 months free and a £50 bonus experience if you apply today](. [Find Out More]( Approval is subject to eligibility. Over 18 & UK residents only. Membership fee applies. Borrow responsibly. T&Cs apply. Rep 59.3% APR var. When you support our sponsors, you support us. Thanks for that. 🎯 On Our Radar - Only one thing could make dim sum better. Yup: [robotic cat waiters](. - Summer weather calls for a beer garden. Just make sure you’re not [fooled by the fakes](. - Google could snitch on you. It might be time to turn off your [home security camera](. - Working from home needs to change. [Here’s how](. - Men can’t handle the heat. They certainly [can’t drink it](. 🌍 Finimize Live 🎉 Coming Up This Week… All events in UK time. 📈 [A Case For DAO Treasury Diversification](: 6pm, August 9th 🥳 And After That… 🤑 [How To Protect Your Crypto Portfolio During A Recession](: 5pm, August 15th 💰 [The Secret To Making Money During High Inflation](: 1pm, August 16th 💻 [How To Spot The Best Tech Stocks](: 6pm, August 16th 🤯[Inflation Strategies For Savvy Investors](%20inflation%20strategies%20for%20savvy%20investors-2m895c:%2012pm%20UK%20time,%20August%2018th/): 12pm, August 18th 🏈 [Crypto And The Sports Community](: 5pm, August 23rd 👑 [How To Invest In Gold On The Blockchain](: 5pm, August 25th 😎 [How To Spot The Next Ethereum Killer](: 1pm, August 30th 🎉 [How To Build Wealth In Your 20s](: 5pm, September 1st ❤️ Share with a friend Your Referrals: 0 Thanks for reading {NAME}. If you liked today's brief, we'd love for you to share it with a friend. 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