Serving type with a aspect of shenanigans – Shannonigan’s Hair Shack opens its doorways | Information

TERRE HAUTE, Ind. (WTHI) – There’s a new salon in town, and it’s serving up style with a side of gimmicks!

Shannonigan’s Hair Shack had its grand opening on Saturday! It is located in the city center of Haute in Terre Haute!

The salon offers cuts, colors, perms, waxes and cosmetic services.

Lifelong stylist Shannon Daughtery had been considering opening a salon for years, and she says the stars have finally aligned…

“It’s very emotional, exciting, overwhelming, all — all at the same time,” Daughtery said.

The salon is currently looking for hairstylists and barbers interested in working in a fun environment!

5 issues to know earlier than the inventory market opens Friday, Jan. 21

Here are the top news, trends and analysis investors need to start their trading day:

1. Wall Street looks set to extend its losing streak

Traders work on the floor of the New York Stock Exchange (NYSE) on January 20, 2022 in New York City.

Spencer Platt | Getty Images

US stock futures fell Friday, with the Nasdaq Looking for Wall Street’s biggest drop again Netflix Shares tumbled in the premarket on slowing subscriber growth. The Nasdaq fell for a third straight session, ending Thursday almost 12% below its last record close in November. the S&P500 It also fell for three straight days, closing 6.5% below its record close earlier this month. the Dow Jones industry average fell for five straight sessions, ending more than 5.6% below its record close from early January. All three stock benchmarks were up to speed for big weekly losses.

2. Netflix’s slump would wipe out profits through April 2020

Netflix’s shares fell 20% premarket on Friday, suggesting opening prices below $410 each, erasing more than 20 months of gains and over 40% below its all-time high in November. Investors punished the stock after Thursday’s after-the-bell earnings report, which revealed a Decrease in net paid subscriber additions worldwide in the fourth quarter and an even worse forecast for the current first quarter.

  • The video-streaming giant beat fourth-quarter earnings estimates and matched sales, but Wall Street was more concerned about the future.
  • Netflix said it plans to have a more back-end weighted content slate in the first quarter, with big premieres slated for March.

3. Peloton is taking “significant corrective action,” CEO says

peloton said its fiscal second-quarter earnings late Thursday will be within the previously forecast range, as it takes action to reduce costs and improve profitability. However, the fitness equipment maker said it added fewer subscribers than previously expected in the most recent period, which ended Dec. 31.

The stock rallied 8% in pre-market on Friday in the morning after falling nearly 24% in the regular session following a CNBC report that the connected fitness equipment maker temporarily halted production of its stationary bikes and treadmills due to the explosive Demand eased off at the start of the Covid pandemic. Peloton’s stock opening price on Friday would mark an 85% drop from its all-time high of $171.09 set in January 2021.

4. Intel plans to build $20 billion chip manufacturing facility in Ohio

Intel CEO Pat Gelsinger at the groundbreaking ceremony for two new chip manufacturing facilities in Chandler, Arizona on Friday, September 24, 2021.

Intel Corporation

intel will invest $20 billion in two new plants in Ohio to manufacture advanced chips, The company announced this on Friday, the first step toward a “mega-site” capable of housing eight $100 billion chip fabs. The proposed investment includes 3,000 permanent jobs and 7,000 construction jobs on the 1,000-acre site outside of Columbus. Intel CEO Pat Gelsinger is driving Intel’s expansion plans, particularly in Europe and the US, to compete with global rivals and respond to a global microchip shortage. In September, Intel broke ground on two factories in Arizona as part of its turnaround plan to become a major maker of chips for external customers.

5. US and Russia far apart on Ukraine crisis as top diplomats meet

U.S. Secretary of State Antony Blinken greets Russian Foreign Minister Sergei Lavrov before their meeting January 21, 2022 in Geneva, Switzerland.

Alex Brandon | Reuters

The US and Russia try to avoid Another conflict in Europe. However, top diplomats from both nations warned on Friday that no breakthrough was imminent as fears mounted that Moscow was planning to invade Ukraine. US Secretary of State Antony Blinken and Russian Foreign Minister Sergey Lavrov met in Geneva at what the American called a “critical moment”. Lavrov called the talks “constructive and useful”. Moscow wants a promise that Ukraine, a former Soviet republic, will never be allowed to join NATO and is demanding the withdrawal of allied troops and military equipment from parts of Eastern Europe. The US and NATO have rejected these demands. In 2014, Russia conquered the Ukrainian peninsula of Crimea.

— Reuters and Associated Press contributed to this report. Follow all market action like a pro CNBC Pro. Get the latest on the pandemic with you CNBC’s coronavirus coverage.

5 issues to know earlier than the inventory market opens Tuesday, Jan. 18

Here are the top news, trends and analysis investors need to start their trading day:

1. The Nasdaq will fall as yields on short and long bonds rise

A trader works on the floor of the New York Stock Exchange at the closing bell on January 14, 2022 in New York.

Timothy A Clary | AFP | Getty Images

2. Activision steps up in Microsoft deal to buy video game giant

A player plays the video game ‘Call of Duty: Black Ops’ developed by Treyarch and published by Activision during Paris Games Week October 25, 2018 in Paris, France.

Chesnot | Getty Images

Microsoft will buy video game giants Activision Blizzard in a $68.7 billion all-cash deal. Activision makes popular game franchises like Call of Duty. Activision has been mired in controversy over the past few months over allegations of sexual harassment and misconduct among company executives. Activision’s shares rose about 37% in premarket trading before being halted after the Wall Street Journal first reported on the deal. Microsoft shares fell more than 2% after the announcement.

3. Goldman Sachs missed quarterly earnings; stocks go down

A Goldman Sachs Group Inc. logo hangs on the floor of the New York Stock Exchange on Wednesday May 19, 2010 in New York, United States.

Daniel Acker | Bloomberg | Getty Images

Bank gains continued Tuesday morning on Dow shares Goldman Sachs Fourth quarter reporting miss merit since operating costs increased by 23% compared to the previous year. The company’s shares fell 2.8% in the premarket. Sales of $12.64 billion beat estimates. On Friday, JPMorgan Chase, also a Dow component, started the quarterly reporting season. Its shares tumbled premarket after falling 6% despite better-than-expected quarterly earnings and sales. JPMorgan’s Chief Financial Officer told the company would probably be missing a key profit target over the next two years.

4. Oil prices hit more than a seven-year high after the UAE attack

Satellite photos obtained by the Associated Press on Tuesday showed the aftermath of a deadly attack on an oil facility in the UAE capital, claimed by Yemen’s Houthi rebels. Planet Labs PBC images analyzed by AP show smoke rising over an Abu Dhabi National Oil Co. tank farm in the Mussafah district of Abu Dhabi on Monday, January 17, 2022.

Planet Labs via AP

US and international oil prices reached more than a seven-year high Tuesday after the United Arab Emirates vowed to retaliate against Iran’s Houthi group in Yemen for Monday’s deadly attack on its capital Abu Dhabi. The UAE is the third largest oil-producing member of OPEC and the seventh largest oil producer in the world, producing just over 4 million barrels per day. Over night, West Texas Intermediate Crude Oil rose more than 2% to $85.56 a barrel before paring those gains.

5. BlackRock’s Fink defends annual letter, delivers stock market call

Laurence “Larry” Fink, Chairman and Chief Executive Officer of BlackRock.

Chris Goodney | Bloomberg | Getty Images

BlackRock CEO Larry Fink pushed back against allegations that the wealth manager was using his weight and influence to support a politically correct agenda. “Stakeholder capitalism has nothing to do with politics. It’s not a social or ideological agenda. He didn’t ‘woke up,'” Fink said in his annual letter to corporate leaders, released Monday. Fink echoed those sentiments in a CNBC interview that aired Tuesday. He said he sees the “shape of the yield curve” in the bond market as a signal of where stocks are going from here with an “aggressive Federal Reserve over the next two years.”

A brand new labor battle opens on Broadway as omicron closes exhibits

A sign indicating canceled performances of “Mrs. Doubtfire” due to Covid is displayed in the window of the Stephen Sondheim Theatre on December 16, 2021 in New York City.

Dia Dipasupil | Getty Images

After over a year of industry-wide closures, Broadway theaters finally reopened in September, but 2021 did not end the way theater professionals hoped it would. The late 2021 comeback had largely bucked London’s touch-and-go reopening earlier that summer: only a handful of Broadway productions temporarily closed due to delta infections. But omicron outbreaks late in the year stalled live theater. Before Christmas, 18 productions canceled performances. Five shows closed permanently in December, citing extreme uncertainty ahead this winter and increased challenges from the pandemic.

If some shows can’t go on under these conditions, how Broadway producers are choosing to close is creating a new labor controversy involving artists already among the hardest-hit by the pandemic.

Kevin McCollum, a prominent producer of numerous Broadway shows including the Tony Award-winning productions of “In the Heights,” “Avenue Q,” and “Rent” says he remains “very bullish on the theatre business,” but he just made a decision that has theater unions alarmed.

McCollum has multiple shows currently running on Broadway, including “Mrs. Doubtfire” and “Six,” but as omicron surged in New York City, “Mrs. Doubtfire” had yet to find its footing.

“Mrs. Doubtfire was especially vulnerable because [it] just opened,” McCollum said.

With no cast album (unlike the wildly popular show “Six”), he says opening the show as cases spiked was “like planting a sapling, but there’s a hurricane.”

Doubtfire was open for seven days before an omicron outbreak in the cast forced McCollum to cancel Sunday’s matinee performance on December 12. Due to infections, the show did not reopen until December 22. During the 11-show shutdown in December, McCollum says the production swung $3 million: $1.5 million in expenses and another $1.5 million in ticket sales refunded to customers. But the larger issue was the shutdown’s impact on advance ticket sales, coupled with negative to lukewarm reviews.

Prior to the shutdown, the show sold around $175,000 in ticket sales per day, a relatively decent figure compared to gross weekly ticket sales during the same period in 2019. After the shutdown, that number dropped to $50,000. “When a show cancels a performance due to Covid, we see an increased cancellation rate for all performances,” McCollum said.

The Broadway League suspended their publication of gross-ticket sales during the pandemic, making it impossible to verify box office performance. The Broadway League declined to comment.

The decrease in box office sales and increase in ticket cancellations was particularly concerning to McCollum as the holiday season is the most profitable, bolstering Broadway productions through the slower winter months. Family-oriented musicals, such as “Mrs. Doubtfire,” in particular benefit from the busy season.

“Especially for a family show, there are younger people who are not vaccinated, and with a family of four, none of them can come in because they’re not going to let their child wait outside,” McCollum said.

He remains optimistic that family-oriented productions will have a greater chance of survival later this spring, benefitting from rising vaccination rates among kids and FDA approval of booster shots for younger children.

But in the meantime, McCollum has made a move that has attracted controversy: the show must be suspended, with a plan to return, but no guarantee for any of the artists involved.

An unprecedented ‘Mrs. Doubtfire’ suspension

In a move described by unions as unprecedented for the Great White Way, McCollum decided to temporarily suspend performances until March 15. Soon after announcing the hiatus, two other productions followed in McCollum’s footsteps. “To Kill A Mockingbird,” the hit play based on Harper Lee’s novel of the same name, announced Wednesday that it would suspend performances until June (temporarily laying off the cast and crew), and reopen the show in a smaller theater. “Girl from the North Country,” a jukebox musical featuring the work of Bob Dylan, will also end its run this month, but the production is currently in “advanced talks” with the Shubert Organization to reopen at another Broadway theater later this spring.

McCollum says he’s “not just throwing in the towel.”

According to the producer, the cost of the shutdown will be between $750,000 and $1 million. However, if the show were to remain open and experience additional closures as infections permeate the cast and crew, the production would lose around half a million each week. Between a decrease in ticket sales, mounting last-minute ticket cancelations and refunds, the evaporation of group sales (which account for a large portion of box office sales), and a plethora of costs associated with Covid testing (which average $30,000 per week), McCollum says the show would be forced to close permanently if it attempted a January run.

Other producers have made the final curtain call. Among Broadway shows that have closed for good: “Thoughts of a Colored Man”, “Waitress”, “Jagged Little Pill” and “Diana.”

The Temptations’ jukebox musical “Ain’t Too Proud” is closing later this month. “Caroline, or Change” also recently closed, though it was scheduled as a limited run.

Theater unions push back

McCollum says the nine-week hiatus is the only viable option to keep the production open.

“I have to figure out a way to extend my operation,” he said. “Because with the 14 unions … we don’t have a mechanism to hibernate. We do have a mechanism to open and close. Therefore, using that binary mentality of opening and closing, I had to turn the show off … preserve my capital, and use it when the environment is more friendly towards a family show.”

But according to the NYC Musicians Union, who represents musicians on Broadway, there is a mechanism for a production to hibernate. Provisions in the union’s contract with Broadway productions allow producers to temporarily close for a maximum of eight weeks during the months of January, February, and September. To do so, producers must get permission from the union and open their books to prove the show is losing money. McCollum declined, forcing the production to officially shut down — albeit temporarily, if all goes according to plan.

The union claims the producers of “Mrs. Doubtfire” intentionally chose to close the production (rather than enter an official, union-sanctioned hiatus) to hide their finances. “Our Broadway contract does allow a show to go on hiatus in a way that protects everyone’s jobs and gives audiences the promise that the show will return. But some producers choose not to follow this route so they can hide their finances from us. Instead, they simply close down their shows completely, with a vague promise of re-opening,” Tino Gagliardi, the President of the NYC Musicians Union Local 802, said in a statement to CNBC.

A spokesperson for McCollum’s “Doubtfire” production said the producer’s decision to shut down rather than follow the procedure for a union-sanctioned hiatus was due to difficulties in coordinating a unified deal between multiple unions, who presented the producer with different terms.

NEW YORK, NEW YORK – DECEMBER 05: Producer Kevin McCollum poses at the opening night of the new musical based on the film “Mr. Doubtfire” on Broadway at The Stephen Sondheim Theatre on December 5, 2021 in New York City. (Photo by Bruce Glikas/Getty Images)

Bruce Glikas | Getty Images Entertainment | Getty Images

Actor’s Equity Association – the union that represents Broadway actors and stage managers – says their contract with the Broadway League includes language from the last century that permits a show to close for at least six weeks.

According to Mary McColl, the union’s executive director, the archaic provision was meant to prevent producers from closing a show, laying off the entire cast, and re-opening shortly after (often in a new city) to “revitalize” the production, potentially with a new cast. McColl, whose last day as executive director of AEA was Friday, told CNBC that “it was never contemplated that it was made to create a layoff circumstance, which is what it is being used for now.”

“Even though it might completely comport with that specific article in our contract, it was never contemplated that it would be used in this way. And I don’t believe that any producer, up until now, has actually put it out in the public realm as ‘this is just a hiatus,'” she said.

While omicron has put shows in a challenging financial position, she says producers like McCollum are using that as an excuse to engineer a new cost-cutting tool: producers suspend productions during the winter months when shows struggle to sell seats, a challenge facing the industry even before the pandemic.

“I think this producer really looks at this as a layoff that’s necessary in the winter,” McColl said. “I don’t think it’s just exclusive in their mind to the Covid situation we’re in, but to create a layoff provision in the production contract, which we do not have.”

She says the move to go on hiatus should have been bargained between the union and The Broadway League (which represents shows in negotiations with artist unions). The union attempted to negotiate, but The Broadway League refused. The League recently came under fire for its disparaging comments against understudies, in which president Charlotte St. Martin blamed show closures on “understudies that aren’t as efficient in delivering their role as the lead is.”

In declining to comment, The Broadway League added to CNBC that it “would refrain from commenting on an individual show’s business model.”

As a result of McCollum’s decision, 115 people will be laid off for at least nine weeks while the show is shuttered; an especially difficult prospect for theater artists who have been out of work for over a year. One of those workers losing her job is LaQuet Sharnell Pringle, who is a swing, understudy, and assistant dance captain for “Mrs. Doubtfire.” Pringle says she had to find additional streams of income while Broadway was closed for 18 months. Now, she is leaning on those side hustles again – entrepreneurial opportunities that include teaching, writing, and editing.

While McCollum argues the temporary closure will ensure “long-term employment,” others are not as optimistic about the show’s future.

“This is either going to be a wonderful idea that helps to keep live theater going during a global pandemic, or it is just prolonging us actually being closed,” Pringle said. “There’s the actor side of me that wants to believe in this [but there is also] the actor who has lived through this for going on two years now [that] says it might be too soon for theater to be back.”

Will the cast return?

It remains unclear whether the cast, crew, and musicians will return if the show re-opens in March, as many are still recovering from the significant financial blow of 18 months of unemployment and may look for work elsewhere.

Pringle is pondering another career, like many on Broadway, looking for work in less volatile sectors of the entertainment industry. “I’m auditioning for as much television and film as I can to get work that way,” she said. While she doesn’t think ongoing closures will dry up Broadway’s pool of talent, she says it will “severely injure it.”

She wants to continue with “Mrs. Doubtfire” but said, “I have to be smart, business-wise, and keep all my options open. … Actors care about the projects we’re attached to, but we also have to think about our livelihoods.”

“It’s been painful,” McCollum said. “There’s nothing harder than working in the theater.”

McCollum says Broadway’s need for mask-less employees coupled with a live performance poses a unique challenge to the theatre industry, in which Covid is more likely to spread and interfere with operations.

Another issue hitting many Broadway productions is the absence of older patrons, which theater heavily relies on. For the 2018-2019 season, the Broadway theatergoer was on average 42.3 years old. Conversely, film audiences skew younger. According to PostTrak’s Motion Picture Industry Survey, those aged 18-24 represent the largest demographic among moviegoers.

Despite the challenges, he insists that his team is “ready to do whatever we have to do to re-open the show in March” and he says those who want to return to the production can have their jobs back.

No guarantees

However, according to both unions, McCollum has not guaranteed that “Mrs. Doubtfire” will return in March, nor has he contractually guaranteed that the current workers will remain with the show when it is scheduled to re-open. If he had closed the show temporarily under the musicians’ union’s contractual provisions, he would be obligated to re-hire all musicians, according to their union, when the show resumes performances.

“Stopping a show abruptly and firing everyone creates a financial shock to our musicians and the other hardworking theater professionals,” Gagliardi said. “When a show closes like this, none of the artists have a guarantee of being re-hired when, or if, the show reopens. Artists deserve a written guarantee that they will be re-hired.”

The unions are collectively perplexed by McCollum’s resistance to working out a deal.

“If in fact, they’re saying we have to do this because we don’t have enough money to keep the show running, and we want to save enough money to reopen the show at a time when we think people will buy tickets, why would they not put that in writing so that the actors, and all the other workers, have some security, because everybody’s laid off,” McColl said.

Producers are also not obligated to re-hire the cast under the same terms of their original contract. In other words, the union will have to renegotiate the contracts when the show re-opens, and the actors could be paid less as a result.

The spokesman for the Doubtfire production said there are no guarantees to anyone who works on the show that it will re-open. “The show has closed. Kevin has said he will be offering everyone on the show their jobs back on March 15, if they want to come back,” the spokesman said. But he said anyone associated with the production has “no obligation to come back to the show if we don’t want to and we are free to take other employment if we wish.”

“When a show closes, their contract ends. Their contract is just negated regardless of how long it was supposed to run for,” outgoing AEA executive director McColl said, who added the union will be taking up issues related to the McCollum decision in its next negotiations, though she will no longer be leading it. “If they are an actor or stage manager who earns above the union minimum, which a lot of actors and stage managers do, they’re able to negotiate over scale. Without a guarantee that they’ll come back at that dollar amount, it’s possible that that producer would offer them less money to come back.”

McColl says that in negotiations with McCollum, the producer refused to put his words in writing. Although he has made a verbal “promise,” McColl says, “there is no guarantee that that’s going to happen,” and that is a difficult position for all of the workers, including actors, stage managers, musicians, stagehands and wardrobe workers on “Mrs. Doubtfire.”

To make matters worse, equity members’ health insurance is based on the number of weeks they work, and many workers will be unable to gain access to unemployment benefits, as some have not worked long enough since the 18-month shutdown to qualify.

Union officials are concerned that other shows, like “Mockingbird” and “Girl from North Country” have done, will enter similar hiatuses during slow months, dealing a significant blow to workers in the entertainment industry who will be without pay and health insurance while productions wait to open in a more fiscally advantageous environment.

The situations are different. Mockingbird is downsizing and moving to a new theater, while the Dylan musical is working on a new reopening plan. Unlike Doubtfire, they were not in negotiations with unions that fell apart. Neither union commented on these shows to CNBC, but expressed concerns about the general trend of going on hiatus.

Producers for “Mockingbird” and “Girl from North Country” could not be immediately reached for comment.

“It’s just a terrible circumstance that our members find themselves in, and the fact that it is now being picked up by other shows is a really terrible situation,” McColl said. “If an employer wants something, usually the negotiation provides something in return for the worker. I see that coming for The Broadway League and their members. I see that coming.”

Missed this year’s CNBC’s At Work summit? Access the full sessions on demand at https://www.cnbcevents.com/worksummit/

5 issues to know earlier than the inventory market opens Wednesday, Jan. 12

Here are the top news, trends and analysis investors need to start their trading day:

1. Wall Street advanced after the two-day technical recovery

Traders on the NYSE floor, January 10, 2022.

Source: New York SE

US stock futures edged higher on Wednesday after another hot inflation report. the Nasdaq on Tuesday gathered for the second session as Tech stocks continued to rally. The index rose 1.4% as bond yields stabilised, taking some pressure off growth-oriented stocks which appeared to have found a foothold after a difficult start to the new year. the S&P 500 rose nearly 1%, breaking a five-session losing streak. the Dow Jones industry average rose 0.5%, ending a four-session downtrend. The S&P 500 and Dow on Tuesday closed nearly 1.8% and 1.5% off their record closes last week, respectively. The Nasdaq closed 5.6% off its record close in November.

2. Consumer prices rising fastest since 1982

those of the government December consumer price index on Wednesday showed a 7% yoy rise, in line with estimates and the hottest rise since 1982. The core CPI, which excludes food and energy, rose 5.5% yoy, slightly higher than expected. the 10-year Treasury yield On Wednesday dropped to below 1.73% after the data and after rising to over 1.8% this year earlier this week.

3. Fed Chair Powell says tighter monetary policy is needed to control inflation

Federal Reserve Chairman Jerome Powell speaks during his reappointment hearing before the Senate Banking, Housing and Urban Affairs Committee on Capitol Hill in Washington, United States, January 11, 2022.

Graeme Jennings | Reuters

federal reserve Chairperson Jerome Powell, with a seemingly clear path to a second term at the helm of the central bank, explained On Tuesday, the US economy is healthy enough and needs tighter monetary policy to control inflation. That will likely mean raising interest rates this year, tapering monthly asset purchases and reducing the Fed’s balance sheet. Powell made the comments during his confirmation hearing, where key senators indicated they will support him for a second term.

4. Omicron could be heading for a quick decline in the UK and US

A patient with coronavirus disease (COVID-19) lies intubated in his isolation room in the intensive care unit (ICU) at Western Reserve Hospital in Cuyahoga Falls, Ohio, the United States, January 4, 2022.

Shannon Stapleton | Reuters

Scientists see signals The fast-spreading Covid-Omicron variant may have peaked in the UK and could be ready to do the same in the US in South Africa. The influential model from the University of Washington expects the number of daily reported cases in the US to hit 1.2 million by Jan. 19 and then fall sharply. The latest seven-day average of daily new infections was 747,267, according to a CNBC analysis of data from Johns Hopkins University.

5. Biden is sending more Covid tests to schools to keep them open

Students leave Darwin Elementary School in the Logan Square neighborhood of Chicago on Monday, January 3, 2022, the first day of school after the winter break for the Chicago Public Schools.

Brian Cassella | Tribune News Service | Getty Images

The White House increases Federal support for schools’ Covid tests to keep them open as Omicron variant rages across US month The aim is to alleviate supply bottlenecks and promote safety in schools. That’s on top of more than $10 billion spent on school-based testing allowed under the Covid Relief Act.

— The Associated Press contributed to this report. Follow all market action like a pro CNBC Pro. Get the latest on the pandemic with you CNBC’s coronavirus coverage.

5 issues to know earlier than the inventory market opens Thursday, Jan. 6

Here are the key news, trends, and analysis investors need to start their trading day:

1. Wall Street looks stable after Wednesday’s big Fed-driven sell-off

Trader on NYSE January 3, 2022.

Source: NYSE

Dow futures climbed higher but Nasdaq futures moved lower Thursday, the day after a major Federal Reserve-sponsored sell-off, the first regular decline of the year on Wall Street. The minutes of the Fed’s December meeting show that central bankers are preparing to end economic aid sooner than previously expected.

2. The Fed is setting wheels in motion to begin tearing down its massive balance sheet

Federal Reserve Board Chairman Jerome Powell awaits the start of a hearing before the Senate Committee on Banking, Housing and Urban Development on Capitol Hill November 30, 2021 in Washington, DC.

Alex Wong | Getty Images

The Fed began plans to cut the holdings of bonds on its balance sheet at its December meeting, with members saying such a cut would likely begin sometime after the central bank hiked interest rates. That is after minutes from the meeting published on Wednesday.

  • The Fed is currently expected to start rate hikes in March, which would mean a balance sheet cut could begin before summer.
  • After the December meeting, the Fed announced plans to more aggressively reduce its bond purchases.
  • Central bankers will hold their first meeting of the new year on January 26-27. With Covid cases increasing due to the Omicron variant, traders will be curious to see if the Fed adjusts their plans.

3. Investors receive unemployment claims data the day before the December employment report

A job seeker leaves the airport-related employment fair at Logan International Airport in Boston, Massachusetts, the United States, December 7, 2021.

Brian Snyder | Reuters

Central bankers and investors will get another reading on labor market health on Thursday at 8:30 a.m. ET. The government’s weekly look at unemployment claims for the week ending January 1 is expected to show a total of 195,000 first-time registrations. That would roughly correspond to the level of the previous week, which was close to the lowest level since 1969.

4. Walgreens Stocks Up In Earnings; Bed Bath & Beyond shares hit the jackpot

Walgreens in Oakland, California.

Yalonda M. James | San Francisco Chronicle | Hearst Newspapers via Getty Images

Dow share Walgreens Boots Alliance rose 3% in the premarket after the pharmacy chain reported better-than-expected results and revenue for the first quarter of the fiscal year on Thursday morning. Walgreens also raised its annual forecast as customers came into its stores for Covid vaccines and tests. The company’s shares closed at $ 54 on Wednesday, up nearly 1%. The stock was up 30% over the past 12 months as of Wednesday’s close, equating to a market value of more than $ 46.7 billion.

Customers shop in a Bed Bath & Beyond store

Courtesy: Bed Bath & Beyond

Bed bath in addition The stock lost nearly 2% early on the market after the household goods retailer missed analysts’ expectations for its third fiscal quarter on Thursday morning. Bed Bath & Beyond reported a loss when analysts expected a break even. Sales were below estimates. The company’s CEO said an inventory shortage due to supply chain bottlenecks cost Bed Bath & Beyond about $ 100 million.

5. CDC supports Pfizer booster shots for children ages 12-15 when the omicrones spike

The headquarters of the Centers for Disease Control and Prevention (CDC) in Atlanta, Georgia.

Tami Chapel | Reuters

Children between the ages of 12 and 15 are now eligible Pfizer and BioNTech‘s Covid booster vaccinations that give them an extra dose of protection when they return to school amid an unprecedented spike in infections in the Centers for Disease Control and Prevention on Wednesday recommended Booster for younger teenagers at least five months after the second dose. Hospital stays for children infected with Covid are increasing in the US as Omicron triggers a wave of infections among the general population. According to the American Academy of Pediatrics, at least 7.8 million children have become infected with Covid since the pandemic began. More than 1,000 children have died from the virus, according to CDC data.

– Follow the entire market like a pro CNBC Pro. Find out about the pandemic with CNBC’s coronavirus coverage.

5 issues to know earlier than the inventory market opens Thursday, Dec. 23

Here are the key news, trends, and analysis investors need to start their trading day:

1. Stock futures indicate the third consecutive profit day

A trader works on the floor of the New York Stock Exchange (NYSE) to start trading on Monday after the sharp decline in global stocks on Friday due to fears of the new omicron Covid variant on December 20, 2021 in New York City.

Spencer Platt | Getty Images

US stock futures on Thursday for a third session in a row with wins in a continuation of Recreation on Wall Street from a previous three-session dry spell due to concerns about the Covid-Omicron variant. the Dow Jones industry average rose 261 points, or 0.7%, on Wednesday, with the S&P 500 and the Nasdaq 1% and 1.2% respectively. To add to the positive mood, the Food and Drug Administration issued an emergency permit for Pfizer‘s Covid pill, the first antiviral drug against the virus for home use.

2. Data shows an improving economy with uncomfortable inflation

A sign stands in front of a job fair for employees who are not vaccinated against coronavirus disease (COVID-19) in Temecula, California, the United States, December 4, 2021.

Denis Poroy | Reuters

Trading is expected to remain relatively thin as the US stock market closes for Christmas Eve on Friday. However, there is a full list of economic data on Thursday starting at 8:30 a.m. ET with numbers on jobs, inflation, spending, and durable goods orders. The numbers showed a strong economy with improving labor and spending trends, but inflation at uncomfortable levels. At 10 a.m. ET, November New Home Sales and the University of Michigan Consumer Sentiment Index, last December, are released.

3. Omicron is milder than other variants, studies show

A woman is given a Covid-19 test while driving through the Covid-19 testing center while hundreds of cars and pedestrians line up to watch Omicron soar across the country ahead of the Christmas holidays on the 22nd.

Tayfun Coskun | Agency Anadolu | Getty Images

The Omicron variant is less likely hospitalization and appears to be milder than previous strains of the virus, according to initial data released by research teams this week. On Tuesday, a new study from South Africa showed that people infected with Omicron were 80% less likely to be hospitalized than those infected with other strains. On Wednesday the US Center for Disease Control and Prevention said this omicron accounted for 90% of cases in some parts of the country. The CDC said the variant made up more than 73% of cases in the US on Saturday.

4. Covid modeling suggests a massive increase in the cases ahead

U.S. Army intensive care nurse Captain Edward Rauch Jr. (L) switches a Covid-19 patient to a ventilator on December 17, 2021 at Beaumont Hospital in Dearborn, Michigan.

Jeff Kowalsky | AFP | Getty Images

Hospitals across the country prepare for another wave of Covid that could rival the early days of the pandemic as the highly mutated and contagious omicron variant rages. The director of the Institute for Health Metrics and Evaluation USA Today said This new modeling shows that there could be about 140 million new cases in the US from January to March. The peak of new infections every day is expected to reach around 2.8 million by the end of next month, according to IHME, with less than 15% expected to be recorded by tests. The US has one a total of 51.5 million reported Covid cases since the virus hit America. The number of reported cases passed the 300,000 mark in early January this year.

5. Elon Musk now says “almost done” selling Tesla stock

Elon Musk, the CEO of Tesla.

Christophe Gateau / Picture Alliance via Getty Images

Tesla CEO Elon Musk said Wednesday he is “almost finished” on his stock sales after selling over $ 15 billion for more than a month. The billionaire had made confusing statements as to whether or not he could cope with his stated goal of selling 10% of his Tesla shares. “I sold enough stock to get about 10% plus the option exercise, and I’ve tried to be extremely literal here,” he said in an interview published Tuesday with the conservative satirical website Babylon Bee. But on Wednesday he suggested he might not be finished. “This assumes the completion of the 10b sale,” he tweeted, referring to his pre-arranged sales plan regarding his options.

– Reuters contributed to this report. Follow the entire market like a pro CNBC Pro. Find out about the pandemic with CNBC’s coronavirus coverage.

– Thursday’s “5 Things” report will be the last of the year. It will return after the holidays on Monday 3rd January.

Jacquemus Opens 24/24 Comfort Retailer Type Pop-up – WWD

SPREAD PINK: If you don’t like pink, enter this in Jacquemus 24/24 pop-up at your own risk. But if it does, the French designer’s two-day Parisian retail trade space is the place where you can find your solution – day and night.

Like the Pink 2 Christmas capsule that was launched on Tuesday, the store was revealed with the question “Do you still like pink?” and a glowing neon spells “Jacquemus 24/24 “on the light pink facade of the location 16 Rue de Richelieu in Paris‘1. Arrondissement.

Inspired by automated convenience stores, the pop-up for the launch of the Bambino Long bag will be open 24 hours a day, starting on Friday at 10 a.m. and ending on December 5th at midnight.

To achieve this, the 355 square meter room was filled with 90 automated lockers, with a digital screen serving as a cash register and catalog.

You can win the bag itself – in pink of course – as well as a selection from the Pink 2 Capsule Collection, including bucket hats, scarves and the Rond Carré candle, a collaboration with Belgian artist Ann Vincent, which is available in a very limited edition.

After completing the credit card-only transaction, customers are given a locker number and the code to unlock the door to receive their prize. Behind the scenes, regular refills ensure that the items remain available for the duration of the pop-up.

All of the products in the pop-up are also sold on the official Jacquemus e-commerce site – but where’s the fun in that?

FOR MORE SEE ALSO:

Jacquemus unveils Pink 2 Holiday Capsule, including collaborations with artists, designers and brands

Bottling Sunshine: Jacquemus said in beauty deal with Puig

Jacquemus opens Flower Pop-up Store for one week in Paris

Bay Shore’s new artsy, tapas-style restaurant Zest opens tomorrow


Chef Michael Liebman’s motto is to live life with joie de vivre – and it is precisely this energy that he would like to exude with the food and art in his new restaurant.

Tomorrow, November 16, at 4 p.m. his tapas-style restaurant, Citrus peel, debuts to the public at 298 West Main St. on Bay Shore, in the building where he previously served as the Executive Chef for Slice of Bay Shore.

During the soft opening of the restaurant on the weekend, family and friends tried his menu and got a glimpse into the completely changed room.

“Hopefully the friendliness of the staff and the facility will make everyone want to come back,” he said. “It’s a great community and we never really understood how young Bay Shore really is.”

With bright colors and pop art photography throughout the room, Liebman hopes to create a positive atmosphere that unites people under a common denominator: food.

The menu includes upscale sandwiches, tapas-style entrees, and a bevy of small plates instead of entrees.

Customers can choose from a selection of beers, organic wines and a range of sangrias, which Zest will also offer as a flight option.

Portraits of a range of musicians and cultural icons – from Aretha Franklin to Marilyn Monroe to the Notorious BIG – line the dining room walls. Outside there is a mural that reads “Live Life with Zest” – an ideal backdrop for Insta-worthy photos.

Liebman wants Zest to be that family-friendly neighborhood spot and attract a younger crowd.

For example, children visiting them can unleash their inner artist with coloring and drawing sheets that Liebman wants to post on social media.

“I just wanted something that wasn’t the norm,” he said of Zest.

Click here to see the full story of how Zest came about here.

Scroll through the photos below to see the interior of the newly decorated restaurant.

Keep following greatbayshore.com for updates on Zest and follow the new Bay Shore Joint on Instagram (@zestlongisland).

Previous reporting:

Above: Marilyn Monroe street art painting at the Zest on Bay Shore. Photo by Ana Borruto.

5 issues to know earlier than the inventory market opens Monday, Nov. 8

Here are the top news, trends, and analysis investors need to start their trading day:

1. Dow futures higher after more Wall Street records on Friday

Traders on the NYSE floor

Source: NYSE

the Dow is set so that the week starts where it left off. The 30-stock average closed on another record Friday and that too S&P 500 and the Nasdaq, according to a better-than-expected job report in October. All three benchmarks posted solid gains in the first week of November. Shares in pre-market trading got a boost out of the house late Friday Passing over $ 1 trillion in infrastructure bill, Sending the law to the president Joe Biden for his signature. House Democrats planned on Friday to pass both the infrastructure bill and the $ 1.75 trillion social safety net and party’s climate package. A handful of centrists’ request for the Congressional Budget Office’s estimate of the budgetary effects of the larger bill delayed its approval.

2. Ether hits a record as Bitcoin inching towards its all-time high

In 2021, Bitcoin and Ether saw huge rallies. In April 2021, the cryptocurrency market topped $ 2 trillion for the first time.

Jaap Arriens | NurPhoto | Getty Images

ether, the second largest digital coin in the world, rose more than 4% in 24 hours on Monday to hit a new all-time high of over $ 4,700. Bitcoin, the largest crypto, climbed 5% to $ 66,250, Step back towards its record high over $ 66,900, discontinued in late October. The reason for the move was not clear. Cryptocurrencies are known for their volatile fluctuations in price, with movements of up to 20% up or down being relatively common. Ethereum, the blockchain that Ether runs on, is undergoing a major upgrade that investors hope will make the network faster and greener.

3. Tesla slips 5% after Musk proposes selling 10% of its stock

Elon Musk, CEO of Tesla, stands in the foundry of the Tesla Gigafactory during a press event.

Patrick Pleul | Image Alliance | Getty Images

Shares in Tesla – more than 70% in the year to date and almost 180% in the last 12 months – fell 5% in the premarket on Monday. Tesla’s market value would still be well over $ 1 trillion if its stock opened roughly where it is in the pre-IPO. In one Twitter Poll Saturday, Tesla CEO Elon Musk proposed selling 10% of its stake in the electric car maker.

More than 3.5 million people answered and almost 58% of them voted “yes”. Musk said he would “stick to the results of this poll no matter which way it goes”. However, Faced with a $ 15 billion tax bill In the coming months on stock options, a Musk sale of Tesla stock is likely this year regardless of Twitter’s vote.

4. Regeneron’s Covid antibody therapy shows long-term protection

Regeneron Pharma called Monday a single dose of his antibody cocktail In a late-stage study, the risk of developing Covid was reduced by 81.6% in the two to eight months after administration. During the eight-month evaluation period, there were no Covid hospital admissions in the drug group and six in the placebo group. Regeneron’s shares rose around 2% in pre-trading.

5. Court of Appeal freezes Biden mandate; USA lift travel restrictions

General surgeon Vivek Murthy told ABCs “This Week” On Sunday, Biden’s government stands ready to defend its “reasonable and necessary” Covid vaccine and testing requirements for private companies. A federal appeals court on Saturday locked temporarily the upcoming mandate. The White House has until Monday evening to respond.

The USA Restrictions lifted Monday to travel from a long list of countries including Mexico, Canada and most of Europe. Travelers must provide proof of vaccination and a negative Covid test. The rules allow tourists to go on long-delayed trips and family members to reconnect with loved ones after being separated for more than a year and a half due to the pandemic.

– Associated Press and Reuters contributed to this report. Follow the entire market like a pro CNBC Pro. Find out about the pandemic with CNBC’s coronavirus coverage.