HeatMap Wed 22 Feb 2023 - slightly better

 Check out today’s heat map:

3 of 11 sectors closed green. Basic materials (+0.73%) led, and real estate (-0.91%) lagged. 💚

Several layoff announcements made the headlines today, including Meta cutting 1,000 jobs, McKinsey letting go 2,000 employees, and NPR slashing 10% of its workforce. Meanwhile, some industries are still having to pay up to keep workers. For example, Toyota accepted its union’s request for the most significant wage increase in about two decades. 🧑‍🏭

Lidar maker Luminar’s shares rose nearly 30% today after announcing a multi-billion-dollar expansion of its Mercedes-Benz deal. 📈

Terran Orbital shares jumped 72% after it won a $2.4 billion contract to build communication satellites for Rivada Space Networks. 🛰️