European Economics Preview: ECB Monetary Policy Decision Due

The monetary policy announcement from the European Central Bank is due on Thursday, headlining a light day for the European economic news.

The bank is expected to signal a gradual reduction in asset purchases and to keep its key interest rates unchanged. The monetary policy statement is due at 7.45 am ET.

ECB President Christine Lagarde holds her customary press conference at 8.30 am ET. The ECB staff macroeconomic projections is also due. The bank is widely expected to raise its inflation and growth forecasts for 2021.

Other economic reports due for the day are as follows:

At 2.00 am ET, Destatis releases Germany’s foreign trade data for July. Economists forecast exports to grow 0.5 percent on month and imports to rise 0.2 percent.

In the meantime, external trade figures are due from Romania and Lithuania.

At 5.00 am ET, unemployment data for June is due from Greece. The rate stood at 15.9 percent in May.

Fed’s Beige Book Says U.S. Economic Growth Downshifted Slightly

Economic growth downshifted slightly to a moderate pace in early July through August, according to the Federal Reserve’s Beige Book released on Wednesday.

The Beige Book, a compilation of anecdotal evidence on economic conditions in each of the twelve Fed districts, said the deceleration in economic activity was largely attributable to a pullback in dining out, travel, and tourism in most districts.

The deceleration in those sectors reflected safety concerns due to the rise of the Delta variant of the coronavirus, and, in a few cases, international travel restrictions.

Meanwhile, the Fed said other sectors of the economy where growth slowed or activity declined were those constrained by supply disruptions and labor shortages, as opposed to softening demand.

“In particular, weakness in auto sales was widely ascribed to low inventories amidst the ongoing microchip shortage, and restrained home sales activity was attributed to low supply,” the Fed said.

The Beige Book also said inflation was reported to be steady at an elevated pace, as half of the districts characterized the pace of price increases as strong, while half described it as moderate.

Looking ahead, the Fed said businesses in most districts remained optimistic about near-term prospects, though there continued to be widespread concern about ongoing supply disruptions and resource shortages.

Berkeley Lights Shares Slip 10%

Shares of Berkeley Lights, Inc. (BLI) slipped over 10% on Wednesday morning despite no stock-related news to hurt the shares.

BLI is currently trading at $29.21, down $3.55 or 10.84%, on the Nasdaq, on a volume of 2.6 million shares, above average volume of 870 thousand shares.

Berkeley Lights, Inc., a digital cell biology company, focuses on enabling and accelerating the rapid development and commercialization of biotherapeutics and other cell-based products.

BroadwayCon Fan Convention Returning As In-Person New York Event In 2022

BroadwayCon, the annual three-day fan convention that was held virtually earlier this year due to the Covid pandemic, will return to in-person programming for the 2022 edition.

The 2022 BroadwayCon is set for February 18–20, 2022, at the Manhattan Center and the New Yorker Hotel. Event organizers announced the return to in-person programming today.

The event’s initial slate of anticipated participants include Anthony Rapp, BroadwayCon’s Co-Founder and original cast member of Rent, Andrew Barth Feldman (Dear Evan Hansen, Ratatouille: The TikTok Musical and Disney’s High School Musical: The Musical: The Series), and Carolee Carmello, Erin Quill, Fredi Walker-Browne, Ilana Levine, Jacqueline B. Arnold, Jennifer Ashley Tepper, Judy Kuhn, Lesli Margherita, Nik Walker, Ryann Redmond, and Thayne Jasperson. Additional guests will be announced at a later date.

Rapp said in a statement, “After the last year and a half, we are thrilled to have the opportunity to come together to honor the passionate community of Broadway fans, performers, and creators. Since 2016, BroadwayCon has served as a signature event supporting the theatre community and this year will be more important than ever as we welcome everyone home again.”

According to organizers, as of now the total capacity for the event will be kept at or below 50% as a Covid safety precaution, but additional tickets may be released at a later date. For more ticket information, visit the event’s website.

Read More About:

When is the launch and how can I watch it?

A five-hour launch window opens Wednesday at 8:02 p.m. Eastern time. The exact time will depend on the weather. Current forecasts give an 80 percent chance of favorable conditions. In an update posted to Twitter at about 1:20 p.m., SpaceX said the rocket’s systems were ready for flight.

If the flight can’t launch during that five-hour time frame, SpaceX could try again on Thursday beginning at 8:05 p.m. Eastern time.

The launch will be streamed live by SpaceX on its YouTube channel, and also by Netflix on its YouTube channel. Or you can watch it in the video player above.

NRF’s ‘The Visionary 2022’ Goes To Target CEO Brian Cornell

The National Retail Federation announced that Target Board Chairman and Chief Executive Officer Brian Cornell will receive The Visionary award.

The Visionary award is given each year to an outstanding retail industry leader, according to NRF. Cornell was selected for his success in creating a business model and culture that stems from Target’s core purpose: Helping all families discover the joy of everyday life.

The award will be presented during the seventh annual NRF Foundation Honors on January 16 in New York City.

“Brian Cornell’s purpose-driven leadership and strategic vision reflect an unwavering commitment to his team, and a keen ability to cut through the noise and truly understand what American families want and need,” NRF President and CEO Matthew Shay said.

Previously, NRF has awarded The Visionary award to Kohl’s CEO Michelle Gass; Nike Chairman, President and CEO Mark Parker; Walmart President and CEO Doug McMillon; and Levi Strauss & Co. President and CEO Chip Bergh.