TheStreet’s J.D. Durkin brings you the biggest news of the day, including how the market fared and why one of France’s largest supermarket chains is removing PepsiCo products from its shelves.
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00:00 I'm JD Durkin reporting from the New York Stock Exchange.
00:03 Stocks were in mixed territory to close out today's session.
00:05 The Dow finished in the green while the tech-heavy Nasdaq and S&P both closed in the red.
00:11 Markets are reacting to some labor data.
00:13 Private employers ramped up hiring in December and weekly jobless claims fell to a two-month
00:18 low, underscoring continued resilience.
00:21 Wall Street is looking ahead to the final labor report of the week with Friday's anticipated
00:25 December jobs report.
00:27 That'll give investors a comprehensive view of the strength of the U.S. jobs market.
00:32 In other news, one of France's largest supermarket chains is fighting back against rising costs
00:37 from a prominent food and drink company.
00:39 Carrefour, which has over 1,000 locations across France, announced it will be pulling
00:45 all PepsiCo products from its shelves because they have become too expensive.
00:49 Instead of drinking snack staples like Lay's, 7-Up and Pepsi, stores will have a sign posted
00:55 which reads, "We are no longer selling this brand due to unacceptable price increases.
00:59 We apologize for any inconvenience caused."
01:02 The chain has since announced it will also stop selling products in its Italy, Spain
01:06 and Belgium locations.
01:08 In September, Carrefour began a "shrinkflation" campaign, posting signs on products that have
01:13 shrunk in size but still saw a price increase.
01:17 However, PepsiCo is hardly the only major company to pass down increases in their own
01:21 costs onto consumers.
01:23 Over the past two years, Nestle, Coca-Cola and Unilever have all also bumped up their
01:28 prices.
01:29 That will do it for your daily briefing.
01:31 From the floor of the New York Stock Exchange, I'm J.D. Durkin with The Street.
01:34 Thanks for watching.
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