For Sycamore Brewing, a provocative holiday beer label redesign started in good fun. Thursday morning, along came the grinch.
-- Katie Peralta, Charlotte Agenda
The old model:
Much of that growth is due to Amazon, which said it would hire 200,000 seasonal employees this year... Macy’s and Kohl’s said they plan to hire 80,000 and 90,000 workers...Target said it plans to add 130,000 seasonal workers...
The new model:
Walmart said it is skipping seasonal hiring altogether, taking the hours available during the holidays and giving them to current employees.
-- Kate Rogers, CNBC
"Air cargo’s peak season is off to a disappointing start, with demand down 3.5% in October," said Alexandre de Juniac, director general and chief executive of IATA. "Demand is set to decline in 2019 overall – the weakest annual outcome since the global financial crisis. It has been a very tough year for the air cargo industry."
-- Rachelle Harry, Aircargo News
The Commerce Department said the trade deficit tumbled 7.6% to $47.2 billion, the smallest since May 2018, as both imports and exports of goods declined. It was the second straight monthly fall in the trade bill and the percent drop was the biggest since January.
-- Lucia Mutikani, Reuters
Kings & Convicts Brewing Co., a tiny Illinois firm, on Tuesday announced an agreement to buy Ballast Point from New York-based Constellations Brands, Inc. Terms of the sale were not disclosed, but includes Ballast Point’s four California brewpubs - at the main brewery in Miramar; Little Italy; Anaheim’s Downtown Disney; and Long Beach - plus one in Chicago.
-- Peter Rowe, San Diego Union-Tribune
ISM uses five components, each weighted evenly at 20% — new orders, production, employment, supplier deliveries and inventories.
IHS uses a weighted average that gives greater importance to new orders (30%), output (25%) and employment (20%), and lower weighting to suppliers’ delivery times (15%) and stocks of purchases (10%).
-- Dion Rabouin, Axios
I don't know that comparing ISM to IHS ("Markit") is all that useful. Yes, Markit appears to lead ISM, recently (perhaps now, and certainly during May and June of 2018), but the S&P 500 has shown itself to be little-affected in the near term, by the transition in trend, in either ISM or Markit.
I track manufacturing ISM against the S&P 500 for a "big macro picture" data point, but as you can see from this monthly chart, the two do not move in lock-step. That being said, I like to be aggressive in the S&P 500 when the manufacturing ISM is rising, and not-so-aggressive when it is falling. If Markit is truly leading the ISM data, we should see a corresponding rise in the ISM, for December (which will be released in January). Does that seem likely, though? It does not to me, but let's let the data do the talking.
Our report described rampant sexism at Riot, manifesting in its hiring and promotion practices and "bro" office culture, which sometimes encouraged harassment and gender discrimination. The suit, filed November, 2018, also describes how women at the League of Legends publisher were paid less than men in the same or a similar position.
-- Cecilia D'Anastasio, Kotaku
Listen, we only care about two things: reducing labor costs and increasing comedy efficiency. That’s why we’ve trained a powerful neural network to replace our expensive, cannabis-smoking writers. Today, we’re giving the writers one chance to save their jobs from automation.
-- Cards Against Humanity
The month of November began with a bang, as the market gapped-up to open at 3,050.7 on the first trading day of the month, closing the session at 3,066.9 for a gain of 1% over October’s 3,037.6 close. The S&P 500 continued nearly unabated, to an intraday high of 3,127.6 on 19 November, before pulling-back nearly 1% to close at 3,103.5 on 21 November. The index would proceed to close November at 3,141.0 after hitting 3,154.3 on 27 November. For the month, the S&P 500 gained 3.4% which equaled its 2016 November performance. Quite a month!
Recent history has not been nearly as kind to the S&P 500 in December, as it has been in November. The index gained 1.8% in 2016, 0.9% in 2017 and -9.2% last year. The 10-month moving average currently sits at 2,932.1 or 7% below November’s close, while the 3-month moving average is 2.9% below November’s close at 3,051.8. Both moving averages are rising.
We will get the manufacturing PMI on Monday. The market really wants to see another increase, so anything over October’s 48.3 number is going to be good news. We have not seen two consecutive months of manufacturing PMI increases since May and June of 2018 (and three consecutive increases since 2017!).
We start all over again on Monday, so enjoy your Black Friday and have a fantastic weekend!
There are plenty of automotive zombies, those vehicles that are still made but that no one really cares about anymore.
-- John Pearley Huffman, Car and Driver
With these firings, Google is ramping up its illegal retaliation against workers engaging in protected organizing. This is classic union busting dressed up in tech industry jargon, and we won’t stand for it.
-- Google Walkout For Real Change