employees are losing their jobs that is about 20% of hasbro's workforce. those reductions are on top of the 800 positions that were already cut so far this year. hasbro makes monopoly, and it also makes play-doh, but it's been struggling with sales since after the pandemic. the barbie movie craze is affecting the holidays of all things in the form of pink christmas trees. >> target, walmart and wayfair are among the major retailers looking to cash in. all three are selling pink trees for less than 100 bucks. it's about standard, i feel like, for a tree. the barbie movie saw a spike in pink pink products this summer, including clothes and even food. i like the tree. i the tree. i like food, though. >> how come? oppenheimer? no. oppenheimer trees for christmas. >> a charred tree or exactly. >> i like the tree, right? not coming up the most stressful jobs in america. why working in television is near the top of the list. >> and later, neil, the seal hamming it up in the middle of the road. you're watching world news now. >> if you're on supplemental oxygen, h

hasbro, jon ferro mentioning hasbro laying off tons of people.aisle at walmart, how grim is it? >> it is a weak season for toys. there are a couple things happening. first, the discounts are not as high as they were in previous years, according to the price study we run each week, but also, the consumer is being much more selective. during the pandemic, people stopped up on a lot of things like board games, things to keep them entertained. the demand is a little slower, but overall, it is still a weaker season. tom: your amazon note in your outlook is simple -- they will battle, they will cut price to their retailers to compete with the other people. how is that going to play out 12 months, 36 months down the road? >> i think amazon will continue to pull share from brick-and-mortar as people continue to seek convenience and low prices. what we have read and seen in studies is amazon is priced best compared to most rivals, including walmart, so that is encouraging and really drives shoppers to its platform again and again. what is interesting is w

hasbro, i me they're slashing jobs.ny -- lauren: such a depressing story. 20% of jobs, 1100 workers will be laid off over the next two years, but the timing, getting this announcement two weeks before christmas? that's when toy makers do almost half of their annual sales. why? i think barbie at mattel, they ate hasbro's lunch. mattel's okay getting through all of this, but what hasbro toy is going underneath the christmas tree this year? transformers, yeah. i bought some for my son. monopoly. but sales have disappointed, and they expect that their sales this year to fall. toy sales are down, and now you have another round of layoffs at hasbro being announced two weeks before christmas. stuart: old line toys are out of fashion. it's new electronic stuff that kids want. stuart: a lot of the toy merricks try to do the nostalgia. do you remember monopoly? let's do new versions of it to get adults to play again with their kids. it's just not working success any. stuart: the i used to like monopoly. i won. lauren: i'm sure yo

. >>> ahead of the fmoc, ford and boeing and hasbro tightening the belts. the moves the industry leaders are making to shore up the bottom line. >>> and alphabet's google suffering a setback with the anti-trust fight with epic games. it could set up a major shakeup in the app store. >>> it is tuesday, december 12th, 2023 and you are watching "worldwide exchange" here on cnbc. >>> welcome back to "worldwide exchange." i'm dominic chu in for frank holland. let's check on the u.s. equity futures with the markets riding a three-day winning streak. it could continue. dow implied higher by 66 points. still green. the s&p is up 4 points and nasdaq implied higher by 31 points. >>> to our top story this morning and the federal reserve kicking off the final policy meeting of the year today. the same day we get the latest read on the november consumer prices with the cpi report due out at 8:30 a.m. this morning. according to the cme fed watch tool, ratraders are certain tha the fed will keep rates unchanged with cuts not happening until march of next year. joining me

hasbro makes games like monopoly and jenga.sparked by weak sales and low demand. >> inflation held nearly steady last month. falling gas prices and long lasting goods mostly offset rising cost of services as the holiday season shopping ramps up. fox's edward lawrence has more from the nation's capital. >> inflation is slowing. prices are rising, but at a slower pace 0.1. that's how much prices went up last month, 3.1% is how much consumer prices went up in the last 12 months. that was in line with estimates. core prices, which strip out food and energy, rose 4% in november from a year earlier, the same as october, a decline in gas prices helped pull down overall inflation. gas prices fell 5.8% in november following a 4.9% drop in october for the average right now is $3.13 a gallon, according to triple a, the slow cooldown in housing hasn't changed all that much. the cost of shelter was up 6.5% in november from a year earlier, a bit better than the 6.7% increase in the year through october and down from a peak of more than 8% ea

hasbro announced it's cutting jobs.o cut 900 jobs, which is almost 20% of its workforce. that's an addition to the 1000 layoffs announced earlier this year. hasbro makes games like monopoly and jenga. it says the decision was sparked by weak sales at and low demand. we now have a new option in the bay area to travel to one of europe's most popular destinations for summer vacation. united airlines plans to launch new nonstop flights from sfo to barcelona in may. the airline will be the only carrier in the country to directly connect those two cities. well today is 1212, so krispy kreme is using the date to offer a deal. the donut shop is calling today, the day of the dozens, 1212. so you can buy a dozen original glazed donuts for just $1 krispy kreme. yeah, says dave clark and guess what? elf donuts. krispy kreme also has limited edition elf holiday collection donuts. there's santa's belly. in honor of the 20th anniversary of the movie. and there's also buddy's snow globe. maybe some sirup on some of them. i'm pam cook.

hasbro laying off 20% of its workers.e'll discuss that name and other key movers in three-stock lunch later this hour. the cloud makes it possible to expand your infrastructure. but to make it powerful enough to connect your data wherever it is, you need cdw and netapp. cdw experts will work with you to understand your needs, then customize a netapp cloud services solution to integrate data management for all your clouds, helping you reduce spend, improve security, control data 24/7 and automatically detect anomalies. in the cloud, at least. netapp makes efficient cloud management possible. cdw makes it powerful. ♪ >>> welcome back to "power lunch." oil down 4% today. let's bring in markets and energy reporter pippa stevens now. pippa? >> so this is because of the latest cpi report from this morning with fears that the efforts to curb inflation will ultimately cut demand for crude and petroleum products. i've been told there's been heavy fund selling thanks to technical weakness and also this growing sense in the market t

if you look at mattel versus hasbro, has hasbro doesn't have these popular dolls or movies.. stuart: adam, you've got some stock picks. i'm surprised to see this, disney. >> i bet you are, right? disney, you know, defines woke right now. stuart: we've been bashing it. >> yeah. but that's the whole thing, they're getting over it. ceo bob iger said about a week ago we need to get back to storytelling. we've been too worried about messaging. stuart: mysedded that. that's a -- i missed that. that's a retreat. >> i'm thrilled to hear it because they have all these different moving participants from the cruises to the hotels, to the movies, to the merchandise, they just need the make the thing work together. lauren: all that depends on the story. >> and he recognized we need, we lost our way. and, by the way, we're not going to sell espn if or abc because he realized they need distribution. it's a recognition they need to get back to basics. i'm good owning disney here, it's still way down. stuart: what's united rentals? >> number one representer of equipment in the -- renter of e

hasbro and mattel shares falling after hours on the announcement. barbie is all that needs to be said. >>> paramount considering cost cuts. the company is discussing laying off 1,000 workers next year with weak ad sales. sherri redstone met with sky dance's david ellison about a potential share. we will be following that. >>> shares of oracle under pressure as well. earnings came in at $1.34 a share. revenue was a slight miss and guidance disappointed the street. the cloud computing business grew 25% after the gain of 30% in the prior quarter. the second consecutive quarter of slowing cloud growth. you can see that stock is off by 8.5%. $105.30 is the last tick. warren buffett reduced berkshire stake in hp. berkshire reduced the stake in hp previously in september and october. it bought the stake in april of 2022 with the average prices estimated in the low 30s and that's where you find the stock today. $30.37. >>> teenagers in the u.s. are glued to youtube and tiktok, in case you didn't know. according to the pew research survey, 93% of teens say t

hasbro says it will cut another 900 jobs globally.t a year after the maker of monopoly announced it would reduce 15% of its workforce amid weaker sales. consumers worldwide have struggled to cope with consistently high inflation, forcing them to cut back on discretionary spending. it isa it is a boom time for india's luxury market from premium cars to designer handbags and watches, they are all flying off the shelves. but this boom also coincides with flattening consumption across the broader market, as well as worries of growing inequality in asia's third—biggest economy. from mumbai, nikhil inamdar has more. india's richest man launching the country's largest luxury shopping centre. the opening featuring the red carpet studded with bollywood's big stars. the shops in salons of global brands occupy prime real estate here. luxury fashion houses like balenciaga have made the indian debut. it is not difficult to understand why these ultra premium shopping malls are springing up the country. —— across the country. india is minting new mi

hasbro lower by 1.5%. hang with "the claman countdown". we are showing you the hottest toys for the holiday, the coolest prices, that is next. ♪ ♪ ♪ be ready for any market with a liquid etf. get in and out with dia. ♪ students... students of any age, from anywhere. students in a new kind of classroom. ♪ using our technology to power different ways of learning. ♪ harnessing ai to plant new beginnings. ♪ so when minds grow, opportunities follow. you can't buy great conversations or moments that matter, but you can invest in them. at t. rowe price our strategic investing approach can help you build the future you imagine. t. rowe price, invest with confidence. the power goes out and we still have wifi to do our homework. and that's a good thing? great in my book! who are you? no power? no problem. introducing storm-ready wifi. now you can stay reliably connected through power outages with unlimited cellular data and up to 4 hours of battery back-up to keep you online. only from xfinity. home of the xfinity dear moms and dads, what you have a

>> plus, hasbro's holiday humbug, gcutting nearly 20% of its workforce. speaking of cuts, ford cutting f-150 reversing -- cutting production plans in half. the company saying it's matching with customer demand. in terms of those cuts. >> let's begin with market reaction to cpi on day one of that fed meeting. core was .3, but actually .28. an uptick in used cars. >> used cars are up 50% since 2019. housing is up 40% since 2019. the only times we have had sustained double digit increases in the price of food is during covid. you don't have a big drop in prices of food at all. as a matter of fact, food away was .4. there will be people who want to sell and say this is enough for jay powell. it's actually not at all enough. and i think that you have to have some roll back from the highest prices ever. david, i think that people don't realize how much damage was done to the working person during covid. when you have these numbers that are not up as much as we expected, i say, well, wait a second, how about down? >> yeah. i mean, damage done, but also a great d

in other business news making headlines, hasbro says it will cut another 900 jobs around the world.y a year after the maker of monopoly and peppa pig announced it would reduce 15% of its workforce amidst weaker sales. reduce 15% of its workforce amidst weakersales. consumers amidst weaker sales. consumers worldwide amidst weakersales. consumers worldwide have struggled to cope with persistently high inflation, forcing them to cut back on discretionary spending. but it's a boom time for india's luxury market from premium cars to designer handbags to find watches, all flying off shelves. this move also coincides with funding consumption across the broader market and worries of growing inequality in asia's third biggest economy. nikhil inamdar has more from mumbai. india's refresh, richest man i launching the country's largest luxury shopping centre. the opening featuring the red carpet studded with bollywood's biggest stars. the shops and salons and marquee global brands occupy prime real estate care. luxury fashion houses like balenciaga have made their india debut with this store. i

. >>> hasbro, the owner of brands such as my little pony and transformers has maidde the decision toe talked earlier about really good thanksgiving sales, but the broader loild season is proving broader loild season is proving ps you dry? when i'm at work, i need to feel secured. difficult. >>> barbenheimer is back. instant award season frontrunners. we're breaking down golden globe nominations right after this. super thin, super absorbent. all of the things that you're looking for in a pad, that is always discreet. - this is thin. - my pad is thick. let's put it to the test. let's do it! look how it's absorbing! and locking it right on in! - look at that! - no liquid, no nothing. totally absorbed! - you feel no wetness. - oh my gosh! are you a believer now? i'm a believer! i got to get some always discreet! lately, my skin seems dry and sensitive. my dermatologist recommended all free clear for my laundry. it's free of dyes and perfumes, for a clean that's gentle on skin. if it touches my skin, i clean it with all free clear the number one brand recommended by dermatologists. theo's

coming up next, troubles for toymaker hasbro. >> hundreds of employees are losing their jobs.uary of 2022. the dow went up 173 points. the nasdaq added 100 points. the s&p 500 rose more than 21 points. the federal reserve started its two day meeting today. investors widely expect the fed to keep interest rates where they are. the year's final decision on rates will be announced tomorrow. inflation continues to drop closer to the central bank's 2% target. >> meanwhile, new layoffs at hasbro, the maker of toys, including transformers and play-doh. it's cutting nearly 20% of its workforce amid an ongoing slump in sales. that means about 1100 workers are losing their jobs. some employees will find out this week, this close to christmas. of course, it's tough whether their jobs have been eliminated while the rest of the layoffs will happen over the next six months. the cuts are on top of roughly 800 jobs eliminated earlier this year. the electronic entertainment expo is official dead. the video game trade group, entertainment software association says e3 is over. the convention, wh

hasbro earlier this week saying it will cut over 1,000 jobs. spotify, amazon, citi also shrinking their work forces. what is that telling you, karen? >> well, i am long etsy. it's up way off the bottom, but this wasn't great news. i don't think it was the layoffs so much, because i think they can probably gain productivity. it was the chief marketing officer. when you lay off the chief marketing officer, something is going wrong in marketing. i didn't love that. i mean, obviously it's a good day to have a bad release, right? so, the market sort of saved them from that. i love the asset light platform. they don't have any inventory, they -- all they do is get fees. and so i love the -- i love that about them, i don't know if this is a commentary on the consumer at all. i think this is, unfortunately, a little bit of a commentary on etsy. >> on etsy. but it doesn't shake your long-term thesis behind this stock? >> no, no. i wouldn't be a seller. >> it was a $68 stock when it reported in november, rallied to where we are now. the selloff, i guess,

hasbro blames sluggish sales for a major round of layoffs. they're slashing 20% of its work force. cocks says challenging conditions are also expected to stretch into the new year. >>> and a piece of literary history. this first edition copy of "harry potter and the philosopher's stone" printed in 1997 sold for, get this, roughly $59,000 yesterday. the seller says they found it inside a bargain bin inside the scottish highlands 26 years ago and only paid around $13 for it at the time. that's your "cbs moneywatch" report for this tuesday morning. i'm shanelle kaul, cbs news, new york. >>> up next, remembering a friend. what jennifer aniston revealed about costar matthew perry in her first interview since his death. costar matthew perry in her first interview since his death. acks, all in one. don't take if allergic to nurtec. allergic reactions can occur, even days after using. most common side effects were nausea, indigestion, and stomach pain. ask about nurtec odt. bladder leak underwear has one job. i just want to feel protected! especially for those sudden gush moments. when you

one of the things, it's really quite surprising this time round is that is rarely hasbro has not worked very well. they've been caught a deceiving people lying people, you know, all of their evidence of this and that we have this latest weapon, ization of rape without any evidence whatsoever. i mean, they are going to great lengths to change the topic and the israel is the victim. go ahead and be room of israel is the only case as an entity, the police, the victim for getting somebody. so basically they think that all of a victim while they are getting the victim. and um, i am very happy to actually to see the collective consciousness around the world and going, shifts around the world. people are taking to twit, there's the social media to fight that this propaganda. nobody buys is really prefer guns anymore. and the boss is there, i'd have to stick to one that says, and then we'll ship through mainstream media. social media wasn't that strong, but now with the nation's social media like this, can you change everybody to fonts to the you your tablet? so whenever you go through your wat

hasbro is cutting 1100 jobs.t is about 20% of its workforce on top of the 800 jobs that already cut this year, toy makers have struggled with weak sales since the pandemic. now to the verdict in a case over whether google operates a monopoly on its smartphone platform game. >> in its app store, the epic decision could have major consequences for us consumers. this morning, a federal jury has found google guilty of violating antitrust laws on its android operating system. >> this decision is the first major courtroom victory for regulators was and, you know, sort of rivals that have been complaining for years that apple, google, microsoft, other big tech companies are illegal monopolists. >> the case was brought by video game maker epic games, which sued google in 2020 after the tech giant delist added epic's hit game fortnite from its app store, google play. google removed the game because it allowed players to make in-app purchases directly from epic, bypassing the fee. google typically charges. but a jury yeste

. >>> toy maker hasbro slashing nearly 20% of its work force. why the maker of transformers and play-doh is cutting jobs in the middle of the holiday shopping season. >>> real estate reality check. with mortgage rates dropping, is now the time to buy? shark tank star barbara corcoran answers your questions. ♪ >> barbenheimer blitz leading the golden globe nominations. ♪ i'm just ken ♪ >> and will it be kenough for the road to the oscars? monday night mayhem in new york. and this titan of a come back. and we're dancing our way into one of the biggest surprises in morning tv history celebrating the wonderful health care heroes who go above and beyond to help others thrive. >> announcer: live in times square, this is good morning america. >> this is good morning america. we cannot wait to bring you that very special surprise right here in times square. it is huge. >> we also have a lot of news to get to including the big ruling in the texas abortion case. we'll have more on that in a few moments. >>> but we begin with the big chill settling into pa

prime minister feasting -- face saying push back on his rwanda policy and hasbro cutting jobs as toyells slump. get your kids off the ipads and buy them some proper toys. though stories are on the daybreak newsletter which terminal subscribers can find by going to dab why go. it's a busy day, plenty more to come. next up, conversations about the middle east. this is bloomberg. ♪ lizzy: welcome back to daybreak europe. let's get to the latest on the middle east. president biden cautions that u.s. public union against israel could shift as he balances or with limiting civilian casualties in gaza. the remarks,'s the white house pushes for in israel aid package and elsewhere bloomberg understands saudi telecom is among suitors in an acquisition as the middle eastern courier is looking to expand in europe. phone companies have been evaluating it which could be valued at 7 billion euros. occidental petroleum agreed to acquire crown rock in a deal valued at 10.8 million dollars. the transaction will close in the first quarter of 2024 subject to approvals as oil executives base pressure to k

hasbro slashing nearly 20% of its workforce, announcing it is laying off 20 -- 1100 employees in a memoterday. the company cut 800 staffers earlier this year and the ceo says it foresees a challenge market ahead after coming off a historic highs during the pandemic. >>> a terrible injustice, that is how a minnesota prosecutor describes the ordeal of a man finally released after nearly two decades behind bars on a wrongful murder conviction. marvin haynes walk out of prison every man on monday after serving 19 years. he was sentenced to life after convicted of killing a man at a minneapolis flower shop back in 2004. haynes was just 16 years old at the time, and on one day a judge vacated that conviction. haynes told cnn inane today he appreciates the hard work of his lawyers, got prosecutors who helped write this terrible wrong. he says he is looking forward to what the future holds. take a listen. >> it's been a long journey. so to hear those words from somebody, to acknowledge i'm actually innocent, and help me get my life back on track. i can't even explain what it means to me. i went

nearly became one of the highest ranking officials at the cia and this plan they had to push out gina hasbro and have this loyalist be acting in a top role, it came close to being carried out but it's a sign that these are real possibilities if he wins a second term. thank you for your time. >>> we are talking about what would happen if trump won the republican nomination. he would almost certainly face biden in the 2024 race but behind closed doors, president biden said the quiet part out loud. what he told donors about why he's runningng again. >>> yikes, that is an exact quote from a top biden campaign advisor after hearing what he told donors behind closed doors tonight in boston, he offered a candid reason about why he's running. he told them and i'm quoting now, if trump wasn't running, i'm not sure i would be writing. well, there is that, let's see what a former deputy assistant to president biden jamaal simmons has to say. also gloria forager, jamaal, i should note it was not you who said yikes in response to the quote. but what do you make of that? >> it's a tough quote. here's the

we've seen it with spotify, hasbro. there is a whole bunch and i think we will see more of that coming, so i will say i think it's going to be a rocky road next year. >> a follow-up on that, you are right. fedex cut. footlocker cut. nike cut. all the ones you just talk about . the macro market did not seem to care. it's a little bit not odd, but i find it interesting. is it all momentum and fed interest rate optimism related? >> i think there is definitely this confirmation bias going on with the market right now. they expect six cuts from the fed but they expect earnings to go up 11, 12%. they expect revenues to go of 5%, so it seems to me you can't have your cake and eat it, too. there has to be something that gets a little bit and i think that is where some of the volatility comes in the marketplace. which part is that it's going to give? are earnings going to come down and will that start is going into a pullback? is it going to be on the flipside of that and the fed is not going to do as much? that is the question

believe that is in response to a very slow showing or recession in the economy, look at the layoffs, hasbro of the workforce, talking about weak sales for toys and games. that's persisting into the holiday shopping season. the monopoly producer will cut about 1100 jobs on top of the 800 layoffs from earlier this year. your r reaction. >> they expected a 3 to 5% decline in sales for the year, they came out in october and increased it to 15%. and the ceo basically said the market has proven to be stronger and more persistent than planned. they saw pandemic level highs of sales because people were basically at home and had to keep the kids busy with online school that didn't go so well so they saw a massive increase during the pandemic. since the stimulus has run out and credit cards are getting maxed and people feel like they have no savings left it will affect the holiday season. i hope we get a flat or maybe negative which will spur the markets and give us a strong year end rally. however, this is indicative that the retail consumer and consumer confidence and spending is definitely going t

toymaker hasbro announcing some mass layoffs as it struggles with some weak sales. the company says it's cutting about 1100 jobs, which is about 20% of its workforce. some employees will find out about the status of their jobs this week while the rest will be laid off of the next 6 months. this is that we make or second round of layoffs this year already eliminating some 800 jobs just a couple of months ago. its portfolio includes the magic, gathering nerf and plato. olive oil prices on the rise. olive oil industry experts say there are a couple factors to blame for the uptick here. extreme weather such as droughts and wildfires hitting parts of europe last year. likely decimating some of the production inflation and the low production in greece, italy and spain, which also cause people to go in that region to start making some knockoffs. up next. >> a coffee shop in the east bay facing some backlash from its own workers after the owners fired some employees after an incident involving anti-semitic graffiti. plus, a very emotional milestone for a once popular travel

so in the meantime we have companies like today, saw hasbro laying off 20% of the workforce this is aoy company two weeks before christmas. are you concerned at all the economy may be slipping near term? >> well, i've been arguing since the beginning of last year we're in a recession. i've just been calling it a rolling recession and we've had different industries, different sectors go into a decline but the overall economy has continued to grow. housing went into recession early last year, particularly single-family housing but now i think it will show signs of improving now that interest rates have come down. retailers experienced the recession. i think they will start to siebert growth. charles: ed, thank you so much. again always appreciate when you make news, you come on "making money." >> thank you. charles: by the i think we'll see you one more time. if not definitely have a great holiday. you've been fantastic. >> to you and your audience. charles: later on in the show my takeaway on '70s no, nostalgia t you can't take that grit. be long the santa and short the grinch. tom, we

toymaker, hasbro announcing some mass layoffs as it struggles with weak sales. company says it is cutting about 1100 jobs, which is roughly 20% of its workforce. some employers will find out about the status of their job this week. well, the rest will be laid off over the next 6 months. this is that we make or second round of layoffs this year are ready, eliminating some 800 jobs just a couple of months ago. the portfolio includes the magic, the gathering nerf and plato. we have a lot more ahead here during kron. 4 news at 3 o'clock today, we're going to get a better look at how >> the state is budgeting its money. we have details on the factors that have california now facing a major deficit. plus, there are 2 new candidates that have entered the race for a seat on the santa clara county board of education. we'll have more on they are. but first, we're going to sit down with san francisco mayor london breed live to discuss her plans about the city's unhoused, the growing fentanyl problem and >> new now at 3 o'clock. san francisco mayor london breed is celebrati

but what are the chances that that $235, given everything -- we just heard from hasbro, continued layoffs across a number of sectors, that $235 is high. what are the chances? >> ah -- so, our view is actually, when you think about 2024, where consensus has it wrong is consensus is too high for 2024. that number is more like what people are thinking about 2024. and obviously, that kind of news, we think this is going to be the third consecutive year of essentially unchanged earnings, right? and so, when you think about valuations, remember, this year was entirely multiple driven. yes, it was driven underneath the hood by a number of stocks whose earnings did rise, but at thine aggregate, the fact is th the risk to earnings is less about the exit out of the recession, because you do get an acceleration and more about sort of what's right in front of us. >> so, using your under the hood metaphor, so, as you look at the sub sectors below the s&p that you think will outperform and underperform, i'll pick out two that i think have had a tough year. as people were really in offensive mode. indus

charles: we had hasbro, etsy, ernst & young. every two today h two or three different companies. these are 10%, 15%, these are mass layoffs. wall street will celebrate it prematurely but when reality comes it hits the top line and bottom line. >> that's right. the top line is getting hit harder. charles: ladies i ask you to come back before jay powell reaches the podium. we have great guests to bring to the audience. let's go back to edward lawrence at the federal reserve, the he has more, edward. >> reporter: what struck me looking at gdp number talking about a significant decrease from 2021 to 24, pulling a rate cut forward, adding a rate cut in the projections in the dot plot in 2024 hard to imagine a 100% soft landing scenario because we talked to a number of market experts when you're talking about 75 basis points in cuts next year that comes because of a weaker market conditions. there is some reason the fed does that going forward. be interesting to see and then to danielle's point on this, may to september is going to be very interesting to see how the data comes in and w

hasbro says it's planning to cut 20% of its workforce as the toymaker says, that amounts to about 100layoffs will happen over a period of six months. and a live look now at the new york stock exchange as trading gets underway. we are in negative territory, just barely, down about four points as putting chains on your tires when you travel through the snow, it might just be a thing of the past for some drivers. >> hyundai has announced new tires that have built in retractable snow chains as drivers can engage the chains with the push of a button. the company hasn't said when these new tires will be going on sale. dictionary .com is out with its 2023 word of the year and the word is hallucinate. >> dictionary.com says it's one of many new words related to i. i guess a lot of you are looking this up. i'm confused. >> used all right. >> it's i mean, don't we all know what hallucinate means? this isn't like some unknown word with not in terms of i. >> it's a different meaning in term of in terms of i to produce false information. >> contrary to the intent of the user and present it as if t

we are also looking at hasbro. the announced the elimination of 900 positions. they had an additional strategic review. in january they had already said they would be limiting 1000 positions globally. following. 40 gaining ground. they are cutting in half the production of the electric 150 pickup. this coming at a time of the industrywide pullback in ev investments. haidi: take a look at how we are setting up as we get into the start of cash trading in sydney. we have been listening to governor bullock speaking in sydney. talking in the q&a about the balance between inflation and keeping the job market steady. acknowledging it has been a hard year dealing with inflation and interest rate rises. she hopes things will get better in 2024. i know a lot of people particularly those struggling with the cost-of-living crisis will be hoping the same. michelle bullock saying she does think we can cool inflation while keeping the job gains and is nothing the rba is behind when it comes to the global cpi flight. little bit of commentary around assets. some of the reviews t

paul: hasbro down about 16%. both are trailing the s&p 500. are not in the toy game. was there an it toy this year? caroline: a squishy is what everyone talks about. i don't understand what they are. they seem to be a cushion, soft, cuddly toy. my kids just made up toys that they seemed to want. i would like a pokemon lantern, which doesn't seem to exist anywhere. the two that i order from some slightly questionable online retailers don't arrive on time. ultimately, simone, i feel like it was the year of the toy, the euro the barbie. they did their marketing incredibly well. yet, we are still wanting it for the price point? simone: i think so. everyone is getting in on this game of trying to tie their stuff to these broader experiences, broader entertainment stories. ultimately, there is going to be a limit to how much people want to spend on this. paul: it might be a call on the consumer? maybe consumers are weakening, consumer credit has gone higher, maybe they don't have the discretion of income in their pockets? simone: hence why they are

hasbro says the decision was sparked by weak sales and low demand.ales come during the weeks before christmas as olive oil prices continue to spike. there are a few factors to blame. one main reason is extreme weather, such as drought and wildfires hitting parts of europe last year. inflation and the low production in greece, italy and spain have also caused some in the region to make knockoff products. one industry expert estimates. 60 to 70% of what is imported to the us is not authentic. that means a little extra virgin olive oil topped with some canola oil seed oils that are flavored and treated to taste like olive oil. reports say authorities in spain and italy have arrested 11 people and seized more than 5000l of fake olive oil, a measure to make it easier for businesses to offer live music goes before the san francisco board of supervisors today. the ordinance would waive license and filing fees for some entertainment permits through june 2025. the fees were suspended during the pandemic to allow businesses to add music performances bars to th

some corporate headlines, mattel and hasbro are offering big discounts to shoppers this holiday seasonamid squeeze consumer budgets. adobe analytics expects price cuts to peak at up to 35%, as manufacturers offload excess inventory. average toy prices in the u.s. have fallen nearly 5% since march to their lowest on record. japanese beverage company asahi will hike prices. they said the price of some liquor will jump as much as 62%. last month their rival announced they will double the price for some of their most popular models. shery: of course we are watching for the start of trade in japan and take a look at the stocks we are watching. sony in the spotlight as hawkers claim -- hackers claim to have leaked more than one million files from is video gaming division. the nikkei reporting that a toyota unit plans to expand production over -- they have cut net income guidance for a full year after a 123 billion yen charge for abandoning a fire project. and its operating income for the second quarter beat the average analyst estimate. coming up in the next hour, why global sentiment will c

. >>> it's been a month where we've gotten high-profile notices of layoffs hasbro, spotify a couple examples0% of the workforce affecting about 350 employees. it's ban split decision as to which directions stock go in the wake of announcements like that. this name has had a good month dow up 136 almost all sectors are genre we'll take a break and be back in a minute. >>> jim, what's on "mad." >> i have the ceo of huntington bank, up 3 points. and then oddity, whichs an israeli company that does chemicals. some cosmetic. i'm trying to intervw the israeli companies to see what it's like. i justing think it's tough time over there and let's find out. tough timen the middle east. i'm trying to be understanding, but it's tough for everyone. >> yeah. we'll see you tonight. "mad money," of course, 6:00 p.m. eastern time. back to 4755 or so dow up 150 dot go anywhere. a force to be reckon with. no, not you saquon. hm? you! your business bank account with quickbooks money, now earns 5% apy. 5% apy? that's new! yup, that's how you business differently. municipal bonds don't usually get the media cover

. >> they're coming from companies that had been weaker and struggling, whether it's etsy or hasbro beforeroad map for the rest of the hour. the road for auto stocks in 2024, we have top picks for you. >> the dow topping 37 k for the first time. the stocks fueling those gains. >> home builders are ligament new highs. what is -- hitting new highs. what is ahead for companies and stocks. the fed focused on potentially dos xtearatene yr. n't go anywhere. it takes years of dedication to get to this milestone. the new york stock exchange is a symbol of what america is all about the potential of an american dream. it is day one. a lot of work has happened to lead to this historic moment. the only way you can move a society forward is a true expression of freedom. ♪♪ fresh, warm hot dogs! when i'm not selling hot dogs, i invest in a fund that advances innovations like robotics. fresh, warm hot dogs, straight out of my torso! one for you, one for you. oh, you're a messy one. cool, right? so cool. anyone can become an agent of innovation with invesco qqq, a fund that gives you access to nasdaq-100

easy to forget hasbro cutting off half of the staff a week away from christmas.azy season and i do not know what will happen. heart of the matter looking at this retail sales report are the guesstimates from mike mckee and others about nominal gdp. if it is soggy, that changes the debate. jonathan: good news. rent in manhattan making their first year-over-year decline in 27 months. median prices sitting at $1000 for november. down nearly 5% from the previous month. president of the retail firm saying it beyond seasonal. you can say that again. this is what is amazing. we set here and we say, news, the rent is not going up. the first year-over-year decline. and then you read the price. that is the reality. month over month, year-over-year , everyone has to live this. they are looking at rent at $4000. tom: i am doing the math here. 48,000 and if you spend one third of your income, you have to have an income of $45,000 to buy the median rent. that is a challenge. people are not spending a third of their income. is it unique to new york? i think you have better cont

jonathan: look at hasbro, two weeks before christmas. cutting 20% of the staff.h the euro against the dollar, it looks like this, the euro out 1.07. a classic fed day performance. tom: what we see tomorrow, do we see fireworks? jonathan: they're going to go first. the pushback from lagarde. she had the luxury of going the day after the federal reserve. it just gives you a little more luxury to get that message across. tom: at the ecb meeting you say, how about that tax? jonathan: you only get to follow up questions at the ecb. it's a little more civil. let's get to the top story, the fed is expected to hold great study. the focus will be on chairman powells news conference as investors try to figure out when the fed will start cutting. the projection showing to rate because next year. that seems to be the consensus, anywhere between 2, 3 cuts. lisa: does it matter? at this point i'm more interested in the unemployment rate and growth figures than the dot plot. the why of it will take on more importance where financial conditions have become more accommodative tha

what we're seeing corporations across the board, gm cruise division, hasbro, spotify, going down theompanies are cutting jobs, especially in the fourth quarter. it makes sense to an extent. what they're attempting to show shareholders is they're still a robust company to the point you should continue to put your money in. it's often a misnomer. people generally think that companies that are laying people off are companies that are not are profitable. that's just not true. companies who have higher goals, higher targets they want to hit for the first quarter of 2024, and so that's why they're subst instituting these layoffs. >> what does that mean for employees? last year was the work of quiet quitting, where you stayed at work, kept collecting a paycheck but maybe didn't work as hard. >> if last year was quiet quitting, what i'm going to say for 2024 is that 2024 is what i call loud restructuring. for employees you've got to understand one simple thing, these corporations while they value you to an extent they value shareholders even more. develop your talents. develop your skills. y