Disney lost the ‘magic’, Twilio layoffs and more: 5 things to know on Monday

Here are the main events to be held on Monday Which may affect trading.

Not-So-Magic Kingdom: the majority “self-described” Disney World Enthusiasts say Florida theme parks have “lost their magic” because of skyrocketing costs, according to a recent study.

A study by the gambling website Time2play surveyed 1,927 “Disney World enthusiasts” and 68.3% of them reported that the price hike made them feel like the theme park had “lost its magic.” 92.6% reported that they believed the high cost of a park made a vacation “inaccessible” for the average family.

In 1971, tickets to Disney World’s Magic Kingdom totaled $3.50, according to the study. When adjusting for inflation, this means tickets will be worth about $25.60 today. Instead, according to the study, tickets to a Disney World park range from $109 to $159 per day.

Disney Offers Discounts And Perks Like Amazon Prime Offering Membership Program

Disney World Orlando with Fireworks and Lights

General view and opening of the rededicated moment of “Disney Enchantment” during the 50th Anniversary of “The World’s Most Magical Celebration” Walt Disney World Resort on September 30, 2021 in Orlando, Florida. (Gerardo Mora / Getty Images / Getty Images)

About 50% of the respondents reported postponing travel due to increase in prices.

Overall, Disney World veterans can expect to pay 35.7% more for their next trip than for their previous one, Time2play found.

A chart posted on social media last year by a researcher at the UK-based firm, SJ Data Visualization, shows that Disney World prices have risen by at least 3,871% since 1971, with prices rising during the 1980s. increased at a more substantial rate in the beginning. compared to its first decade.

Families talked about prices earlier this year as travel ramped up After the coronavirus lockdown, And he expressed grief over the price hike. A father in two estimated he would be on the hook for a $4,000 to $5,000 bill, even if one of his children would qualify for free admission.

“I understand inflation and all those things. I understand that costs add up,” Kentucky father Matt Day told the Washington Post earlier this year on the higher prices. “I always had the impression that Disney was a family vacation destination, and that’s why I was surprised to see how expensive it really was — and how out of reach for most American families.”

“It’s really phenomenal,” Len Testa, president of theme-park trip-planning site Touring Plans, told the Washington Post earlier this year. “We haven’t seen this kind of anger about a price hike – we can’t remember the last time something like this got Disney fans so angry.”

‘Anti-racism’, ‘anti-oppression’ layoffs: Twilio CEO Jeff Lawson announced in a message to all employees that 11% of its employees would be laid off, saying they laid off through an “anti-caste” and “anti-semitic” lens.

based in san francisco The CEO of the corporate communications company said in a message to employees that the layoffs were “intelligent and necessary.”

“I’m not going to sugarcoat things. A layoff is the last thing we want to do, but I believe it’s wise and necessary. Twilio has grown at an astonishing rate over the years. Was too fast, and without enough focus on our most important company priorities. I take responsibility for those decisions, as well as the difficult decision to make this layoff,” Lawson said.

In determining which roles would be affected in the layoffs, Lawson said company executives examined which roles most align with its four priorities, but said the layoffs were done through an anti-racist lens. Was.

TWILIO restructuring 11% workforce reduction

Twilio on cell phone and computer screens

A Twilio logo of the US cloud communication platform is seen on smartphone and PC screens in this photo illustration. (Pavlo Gonchar / SOPA Images / LightRocket via Getty Images / Getty Images)

“As you all know, we are committed to being an anti-racist/anti-racism company,” Lawson wrote. “Such layoffs can have a more pronounced impact on marginalized communities, so we were particularly focused on ensuring our layoffs – while a business necessity today – take an anti-racism/anti-semitic lens.” was done through.”

Those who were laid off would receive “at least” 12 weeks’ pay in the company and an additional week’s service per year. They will also receive the full value of Twilio’s next stock vest.

Critical Economic Outlook: US stocks closed lower on Friday as investors were hit by corporate warnings that paint an increasingly grim outlook for the health of the US economy.

In the past week, large corporations including Goldman Sachs Group Inc prepared to cut jobs, raising fears of an impending recession.

FedEx cautioned late Thursday that it was closing offices to meet dwindling demand, and General Electric said supply-chain problems were weighing on profits. The news pushed shares lower, with the Dow Jones Industrial Average falling 139.40 points, or 0.5%, to 30822.42. The S&P 500 closed 28.02 points, or 0.7%, down at 3873.33.

For the week, the Dow dropped 4.1%, while the S&P retreated 4.8%.

The Nasdaq Composite ended 103.95 points, or 0.9%, down at 11448.40. It fell 5.5% for the week, its worst since June. All three indices are down four in the past five weeks.

anchor Security The last Change Change %
Me: DJI dow jones average 30822.42 -139.40 -0.45%
SP500 S&P 500 3873.33 -28.02 -0.72%
me: comp NASDAQ Composite Index 11448.403659 -103.95 -0.90%

The big moves are surprising, given how U.S. stocks appeared to be on an uptrend earlier this summer, climbing on the back of their earnings since mid-June, which weren’t as bad as feared and some strong hiring data.

However, investors who had hoped that the midsummer bounce back was the start of a new bull market rally took a harsh wake when Tuesday’s data confirmed inflation remained very high.

investor now guess that Fed Rates will have to be raised aggressively, which may eventually push the economy into recession.

Fed rate hike imminent?: Futures bets show traders see a 76% chance that the Fed will raise interest rates by 0.75 percent at its meeting next week, according to CME Group.

Investors are also pricing in another rate hike of the same amount in November.

The two-year Treasury yield is particularly sensitive to investor expectations for near-term Fed rate hikes. It closed at 3.859% on Friday, the second highest level of the year. On Thursday it closed at its highest level since 2007.

The yield on the benchmark 10-year Treasury note also fell slightly to 3.447%. Yields and prices move inversely.

Billionaire Ray Dalio warns stocks could fall 20% if interest rates rise to 4.5%

Federal Reserve Chairman Jerome Powell speaking

Federal Reserve Chairman Jerome Powell speaks during a hearing of the House Financial Services Committee on Thursday, June 23, 2022, in Washington, DC. (Eric Lee / Bloomberg via Getty Images / Getty Images)

Ahead of Tuesday’s inflation data, some money managers expected central banks to be in a position to reduce their rate hikes.

“It’s clear they’re not going to pivot. That ship has sailed,” said Honey Redha, portfolio manager at Pinebridge Investments.

Traders are also worried Fed may continue Tough even when the economy is slow.

IPO: American International Group’s life insurance and asset-management arm, Corebridge Financial Inc., priced its initial public offering, the first attempt at a large, traditional IPO in the US in months.

anchor Security The last Change Change %
crbg Corebridge Financial Inc. Com USD0.01 20.72 -0.01 -0.05%

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Offering prices at the low end of expectations and plunging into its stock-market debut, disappointing advisors had hoped the deal could inject life into a weak IPO market.

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