Is this AMC stock moment GameStop 2.0?
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Shares of the movie theater chain nearly doubled in value yesterday, driven in part by stock purchases from retail investors. In a regulatory filing today, AMC warned investors about the risks of buying its shares. We have the latest. Plus, new data that suggests hiring is picking up as spring becomes summer. Also, how delays in manufacturing can affect consumer prices. And, why QR codes at restaurants could be here to stay.
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Encouraging jobs data on the eve of the government's May report
We're one day away from the official government report on hiring and unemployment for May, but we've got other data to lookt at first: the ADP numbers on private payrolls for last month and the weekly jobless claims. The ADP numbers are "certainly encouraging," said Diane Swonk, chief economist at Grant Thornton, as they show about 1 million jobs added. They may not necessarily match the employment numbers we get tomorrow, so it's best to be cautious, but "the good news is we've seen a slew of data that suggests that momentum is shifting regarding hiring and people accepting jobs," Swonk said. Also, turning to weekly jobless claims, we learned the number of people signing up for first-time unemployment benefits dropped for the fifth straight week. "We're still high, and there are some workers that are just losing their extensions and benefits. But the good news is the initial claims are coming down," Swonk said.
While delays and shortages could be just short-term disruptions, tariffs, which also push up prices, are expected to remain.
One restaurant says a QR code system for ordering means it can hire fewer people to wait on customers –– and it can pay those people more.
David Brancaccio Host
Nicole Childers Executive Producer
Victoria Craig Producer, BBC
Stephen Ryan Producer, BBC
Jonathan Frewin Producer, BBC
Daniel Shin Producer
Jay Siebold Engineer
Brian Allison Engineer
Alex Schroeder Digital producer
Meredith Garretson Producer
Erika Soderstrom Producer/Director