TheStreet's JD Durkin brings the latest business headlines from the New York Stock Exchange as markets close for trading on Wednesday, January 24.
Full video transcript below:
JD DURKIN: I'm JD Durkin, reporting from the New York Stock Exchange.
stocks closed mixed to close out today's session. The Dow Jones closed nearly 100 points lower, the Nasdaq closed three-tenths of a percent higher and the S&P closed slightly higher. Netflix was a big winner today with its stock rising double digits as investors reacted to the streaming giant's better-than-expected quarter.
Investors expect a fourth-quarter GDP update on Thursday and a key inflation reading on Friday. Both reports are expected to provide investors with greater clarity on the state of the US economy.
In other news, in an effort to ensure it has enough staff for what it calls “burrito season,” Chipotle said it plans to hire 19,000 new workers. The company already has more than 110,000 employees, but needs additional workers to keep up with its peak season, which it says runs from March to May.
Chipotle hopes to attract younger workers (more than 70 percent of its restaurant workforce is Generation Z), and to do so, the company plans to offer better benefits. Some of the new benefits include mental health counseling and a 401k contribution of up to 4 percent if that employee makes student loan payments.
Citing the financial difficulties faced by members of Generation Z in the current economic climate, Chipotle's chief human resources officer said: “As we move toward our long-term goal of operating 7,000 restaurants in North America, it is crucial that Let's listen and adapt to the needs of our team members so they can grow with us.
Chipotle currently operates more than 3,300 locations worldwide. Despite raising its prices, the company reported a 5 percent increase in same-store sales in its third-quarter earnings report in October.
That will be enough for your daily report. From the New York Stock Exchange, I'm JD Durkin of TheStreet.
