OPEC+ Output Cut
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 3 April 2023
⏱️ 9 minutes
🧾️ Download transcript
Summary
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Wall Street Breakfast:
Seeking Alpha's Wall Street Breakfast brings the top news to investors every morning. Released by 8:00am ET, it's all the news you need to know for your market day.
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Show links:
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Transcript
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| 0:00.0 | Welcome to Seeking Alpha's Wall Street breakfast, where we cover the top news for investors every morning. |
| 0:07.0 | Good morning. Today is Monday, April 3rd, and I'm your host, Julie Morgan. |
| 0:12.0 | McDonald's is reportedly laying off workers in its corporate office. |
| 0:15.8 | Employees were told not to report to the office |
| 0:18.5 | so that the company can deliver the news virtually. |
| 0:21.6 | Today is catalyst to watch Monday, but we'll have to wait until the end of the week for |
| 0:26.2 | the major news of the week. |
| 0:28.2 | The jobs report. |
| 0:29.2 | The interesting thing is that it is a market holiday because it's Good Friday. |
| 0:33.0 | OPEC Plus announces a surprise oil production cut. |
| 0:37.0 | I'll give you a heads up now. |
| 0:39.0 | Crude oil is up more than 5% and the same is true for Brent. |
| 0:44.0 | Our top story. |
| 0:45.0 | McDonald's has reportedly told corporate employees that its U.S. offices will remain closed early this week |
| 0:51.6 | so the company can announce layoffs as part of a |
| 0:54.3 | broad restructuring plan. No word on how many people will be laid off. The |
| 0:59.4 | Wall Street Journal quoted an internal email to employees as saying that staffers should work |
| 1:05.0 | from home Monday through Wednesday so the Fast Food Giant can deliver the |
| 1:09.4 | layoff news virtually. The publications at the memo also instructed U.S. and some |
| 1:14.8 | international corporate staffers to cancel all in-person meetings at the company's |
| 1:19.9 | Chicago headquarters. Analysts expect McDonald's to report Q1 earnings later this month. |
| 1:26.2 | The fast food chain beat analysts' estimates on Q4 earnings and revenues in January. |
... |
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