Here’s why Goldman Sachs thinks the Winter Olympics are a risk to restaurants Getty Images The Winter Olympics may hurt restaurants Goldman analysts say Feb. 9, the date of the opening ceremony of the Winter Olympics, might be the start of a tough two-week period for the restaurant business, according to Goldman Sachs.
“Cold and inclement weather is likely a first-quarter headwind… and the Winter Olympics could also encourage food-at-home versus food-away-from-home spending,” wrote Goldman analysts in Friday note.
Analysts also expressed near-term caution because of the likely lag between the benefits of personal tax cuts and wage boosts and restaurant spending. “[T]here are no signs that price is an easy lever to pull,” analysts said.
Overall, analysts say they have a “favorable” view of the restaurant sector, a beneficiary of the new tax reform measures, although Goldman is selective about investment opportunities.
See: ‘It just makes sense’ to replace workers with machines, Jac..Read More →

GE’s stock plunge puts 110-year run in the Dow industrials at risk As General Electric Co.’s stock falls further behind its peers to fresh multiyear lows, the risk of it snapping its record 110-year run within the Dow Jones Industrial Average keeps increasing.
The struggling industrial conglomerate’s stock GE, -2.95% plunged 3% in afternoon trade Friday, putting it on track for the lowest close since Dec. 2, 2011, in the wake of the company’s disclosure this week of massive losses in its legacy insurance business.
The 14.5% plunge amid a five-session losing streak is the biggest 5-day decline since it shed 17.0% in the five days ending March 6, 2009.
It has now tumbled 31% over the past three months and 48% the past 12 months, while the Dow industrials DJIA, +0.13% have rallied 12% the past three months and 32% the past year.
See also: GE’s stock suffers worst day in 8 1/2-years after transformation plan unveiled.
With GE’s stock recently changing hands at $16.26, the price is les..Read More →

BOJ and ECB expectations have trader hopes riding high for the yen and the euro Much of the thesis surrounding a strong euro and a strengthening Japanese yen in 2018 is built around central banks and expectations for monetary-policy normalization across the globe. Next week will put this idea to the test, as both the European Central Bank and the Bank of Japan hold their first meetings of the year.
Analysts expect the ECB to pull back on its easy-money policies this year to play catch-up with the Federal Reserve, which has already increased interest rates five times since 2015. A hawkish ECB might provide a further fillip to the euro EURUSD, -0.0899% in 2018.
The Bank of Japan, meanwhile, is thought of as having the most accommodative monetary policy among its peers. Still, a decision to reduce its purchases of government bonds, also known as JGBs, earlier this month and comments about the negative effects of prolonged quantitative easing late last year, have analysts wondering when..Read More →

Trump Today: President meets with Schumer hours ahead of shutdown deadline This column provides a daily update on key presidential actions as well as comments, whether spoken aloud or on Twitter, by President Trump. Like the stock market, the deadline for Trump Today action is 4 p.m. Eastern Time, even as we acknowledge that substantive news can and does occur after hours.
President Donald Trump met with Senate Minority Leader Charles Schumer at the White House on Friday, hours ahead of a deadline to fund the government and head off a shutdown.
New York Democrat Schumer spent about 90 minutes at the White House but emerged with no deal after talking with Trump. The government will partially shut down at midnight for the first time since 2013 in the absence of an agreement.
Trump said early Friday on Twitter that Democrats wanted “illegal immigration and weak borders” and questioned if a shutdown was coming. Democrats want to extend the D..Read More →

When will the 2018 Oscar nominations be announced? Hollywood had a roller coaster year in 2017.
Box-office revenue fell, as the key summer season reached its lowest point in more than a decade. And as the box office suffered, so did theater chains. Attendance was down, ticket prices were up, and there was the threat that theatrical windows would shrink, limiting how long films play exclusively in theaters before being available for home video.
MoviePass made a splash in the industry, challenging the way Hollywood approaches movie-going. MoviePass is majority owned by data firm Helios & Matheson Analytics Inc. HMNY, -0.25%
The biggest news was the fall of former Hollywood heavyweight, the producer Harvey Weinstein and other powerful men and the rise of the TimesUP initiative, formed to combat sexual harassment and address pay disparity.
See: Oscars academy issues code of conduct for members after Weinstein expulsion
All of these issues will likely feature on Hollywood’s biggest n..Read More →