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Chipotle sued by New York City
Chipotle (NYSE:CMG) finds itself the first corporate-owned food chain to be sued under NYC’s Fair Workweek Law. At issue, according to Mayor Bill, are unpredictable work schedules and a path to full-time employment. The previously very hot-handed CMG fell more than 6% on the news yesterday.
Firing of Bolton hits crude prices
The president yesterday announced the axing of National Security Advisor John Bolton (Bolton says he resigned, but whatever). Bolton is a big fan of bombing things, so the firing – at the margin – might mean eased global tensions, particularly with Iran. The algos ran with this thought, sending the price of crude oil down about $1 per barrel in the minutes after the news hit. The energy sector, however, continued its rally, with the Energy Select SPDR (NYSEARCA:XLE) gaining 1.3% for the session.