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What history shows: GM beats earnings estimates 87% of the time, according to data from Bespoke Investment Group. Alphabet is set to report earnings after the close. What history shows: Alphabet averages a 1.45% gain after reporting earnings, Bespoke data shows. What history shows: Amazon exceeds earnings expectations 63% of the time, according to Bespoke. What history shows: Meta shares have risen in three of the last four earnings days, per Bespoke, including a 23.3% rally.
Persons: Bard chatbot, Gus Richard, David Palmer, Palmer, MSFT, Jordan Novet, bode, Leslie Josephs, Max, Alaska's, AAPL, AMZN, Mark Zuckerberg Organizations: Meta, Apple, ., Motors, CNBC, Tuesday, United Auto Workers, LSEG, Investment, AMD, Starbucks, Microsoft, Management, Wednesday Boeing, Alaska Airlines, FAA, Boeing, United Airlines, Web, Mizuho Securities, Nvidia Locations: Northland, China, Alaska
High-profile strikes by writers and actors against Hollywood brought the union power to the mainstream as pictures of celebrities holding picket signs flooded social media. But one big win continues to elude labor: the need to translate its rising popularity into an increase in rank-and-file union membership, which has stagnated in recent decades. It's not a lack of support from the public that's holding unions back from making more progress in growing their ranks. Even before the big wins of 2023, polling conducted in recent years showed rising union popularity, with support at its highest level since 1965, according to 2022 data from Gallup. 'The Great Reset'In 2023, it was a banner year for American workers who support the labor movement.
Persons: Biden, , Heidi Shierholz, I've, Thomas Kochan Organizations: United Auto Workers, UAW, Local, Chrysler Corporate, Division, Hollywood, UPS, Teamsters, Bureau of Labor Statistics, Union, Economic Policy Institute, Gallup, AFL, CIO, MIT Sloan School of Management, Cornell, ILR, SAG, Writers Guild of America Locations: Ontario , California, American, Michigan, America
Biden is “not doing it just for the sake of making Donald Trump mad or for the satisfaction of punching him in the nose. “Loser” is at the top of the Biden campaign lists of attacks. “It is Donald Trump who continues to deny the truth about the 2020 election. He lost that one,” said senior Biden campaign adviser T.J. Ducklo. “The joke’s on Donald Trump.
Persons: Joe Biden’s, Donald Trump, Emanuel, Biden, Donald Trump –, , “ he’s, Herbert Hoover ”, Trump’s, , I’m, ” Biden, Trump, Kate Bedingfield, She’s, It’s, Joe Biden, T.J, they’ve, Hoover, Nikki Haley, Nancy Pelosi –, that’s, Nancy Pelosi, Donald, you’ve, Ducklo, ” Ducklo, ” Trump, “ Joe Biden can’t, he’s, Steven Cheung, Michelle Obama’s, Gavin Newsom, didn’t, ” Bedingfield, “ It’s, ” George Conway, who’s, Donald ”, Omar Cornute, Louis, , Herbert Hoover, ” Cornute, Robert Garcia, “ Donald Trump, Garcia Organizations: CNN, Emanuel AME, Republican, Trump, Biden, Democratic, White House, South Carolina Gov, Fox, gaslight, , California Gov, Republicans, United Auto Workers, California Democrat Locations: Carolina, Trump’s Iowa, Iowa, Pennsylvania, America, Washington, California
A decision by such voters that they cannot morally support Biden over this single issue could have a significant impact. “We should … not forget how President Biden beat Trump in 2020. Accepting what liberals see as draconian Trump-style restrictions on asylum would be viewed as a betrayal by many in Biden’s coalition. A CNN survey in November, for example, showed Biden led Trump among Black voters 73% to 23%. Latino voters favored Biden over Trump by only four points in the poll compared to 33 points in the 2020 election.
Persons: Donald Trump’s, Joe Biden’s, , Trump, Biden, Biden’s, Covid, Quentin Fulks, , ” Fulks, Donald Trump, MAGA, Israel epitomizes, didn’t, Pramila Jayapal, ” Jayapal, CNN’s Manu Raju, Trump’s, Nikki Haley’s, Lyndon Johnson, , Hank Naughton, Naughton, , ” Naughton, Trump won’t, Kamala Harris, Harris, “ Joe Biden, Shawn Fain, Chuck Morse, officeholder, ” Morse, ” Dominick Lombardi, Lombardi Organizations: CNN, White, Republican, Democratic, Local, Republicans, White House, Trump, GOP, Congressional Progressive Caucus, Biden, Black, Electoral College, South Carolina Gov, America, United Auto Workers, Pew Research Center, Pacific Islander, , Orange Republican Party Locations: Gaza, New Hampshire, Israel, Trump, Wisconsin, Georgia, Arizona, Florida, Michigan, Washington, New Haven County , Connecticut
U.S. President Joe Biden speaks to United Auto Workers members at the UAW's Community Action Program (CAP) legislative conference in Washington, U.S., January 24, 2024. The United Auto Workers union is endorsing President Joe Biden for reelection this year, UAW President Shawn Fain announced Wednesday at a union conference in Washington, D.C."Today, I'm proud to stand up here with your International Executive Board and announce that the UAW is endorsing Joe Biden for President of the United States," Fain said. "We will reelect Joe Biden." "Look, I kept my commitment to be the most pro-union president ever," Biden said following the endorsement announcement. Biden threw his own punches at Trump, who he expects to face in a general election rematch in November.
Persons: Joe Biden, Shawn Fain, Fain, reelect Joe Biden, shouldn't, Biden, Nikki Haley, Trump, Donald Trump Organizations: United Auto Workers, International, UAW, Democratic, New, Trump, South Carolina Gov, Republican Locations: Washington , U.S, Washington ,, United States, New Hampshire, Michigan, Detroit, America
Tesla is set to report fourth-quarter earnings for 2023 after the bell Wednesday. Tesla shareholders submitted questions for executives to answer via the platform Say Technologies ahead of the earnings call. They're asking when Tesla plans to debut its "next-generation" vehicle, a more affordable EV referred to by fans as the Model 2. Gerber said on CNBC's "Last Call" with Brian Sullivan, that Musk was "blackmailing" Tesla shareholders, and that "the idea that he doesn't control Tesla is absurd." WATCH: Elon Musk is very much in charge of Tesla
Persons: Elon Musk, Tesla, Musk, Elon, Ross Gerber, who's, bristled, Gerber, Brian Sullivan Organizations: Tesla Inc, Fratelli, LSEG, Labor, General Motors, Ford, United Auto Workers, Tesla, Investors, Twitter Locations: Italy, Rome, U.S, Sweden, Scandinavia, Europe, Nevada, Tesla
“I say the general election begins tonight,” said Trump-adversary-turned-advocate Vivek Ramaswamy, who was standing at the former president’s side during his New Hampshire victory speech. Both Biden and Trump have loud detractors within their parties and glaring political liabilities. The earliest either Trump or Biden could clinch enough delegates to become his party's presumptive nominee is March. Haley beat Trump on Tuesday among Republican primary voters who identified as either moderates or independents, according to AP VoteCast, a survey of the electorate. About half of the state's Republican primary voters also said they are very or somewhat concerned that Trump is too extreme to win the general election.
Persons: Donald Trump, Joe Biden, Nikki Haley’s, , , Trump, Vivek Ramaswamy, Biden, Nikki Haley, Nikki, , ” Trump, , ” Haley, ” “ Biden –, “ Nikki Haley, ” Mark Harris, Harris, ” Harris, Haley, She’s, Texas Sen, John Cornyn, Cornyn, Meg Kinnard Organizations: , Republican, New Hampshire, Democrats, Republicans, Biden, Trump, New, Democratic, Biden's New Hampshire, Wednesday, United Auto Workers, Phoenix, GOP, Zoom, U.S ., Haley, Voters, House, AP VoteCast, U.S, Capitol, White, Associated Press Locations: New, New Hampshire, Delaware, Iowa, South Carolina, “ New Hampshire, America, Charleston, U.S, U.S . Virgin Islands, New York , Florida , California , Texas, Florida, Texas, Columbia , South Carolina
UAW Backs Biden in Major 2024 Endorsement
  + stars: | 2024-01-24 | by ( Lauren Camera | Jan. | At P.M. | ) www.usnews.com   time to read: +9 min
Joe Biden bet on the American worker while Donald Trump blamed the American worker. The Best Political Cartoons on Joe Biden View All 259 Images“The question is: Who do we want in that office to give us the best shot of winning?” Fain asked members. Joe!” Biden accepted the endorsement and pledged to continue supporting labor unions and the auto industry in particular. Of course, there were plenty of signs the UAW chief was planning to make the union’s backing of Biden official. That's what this choice is about.”More labor union endorsements are likely to roll out in the coming months.
Persons: Joe Biden, Donald Trump, , Shawn Fain, Harris, Trump, ” Fain, , “ It’s, It's, “ It's, ” “ Donald Trump, that's, he’d, “ Joe, Joe, Joe ! ” Biden, ” Biden, Biden, “ Trump, you've, , Fain, ” Mary Kay Henry, Biden’s, Lady Jill Biden Organizations: United Auto Workers, D.C, Biden, UAW, – Ford, General Motors, Trump, Gallup, National Labor Relations Board, Employees International Union, U.S . Bureau of Labor Statistics, Press, Hollywood, , National Education Association Locations: Washington, Detroit, New Hampshire, Iowa, Michigan, Pennsylvania, Wisconsin, America, U.S, , South Carolina
Washington CNN —The United Auto Workers union on Wednesday endorsed President Joe Biden, a long-awaited announcement that is an important pickup for the president. Biden won the endorsement of the UAW in the 2020 campaign, even though many rank-and-file members supported Trump. Ahead of endorsing Biden, UAW President Shawn Fain said the choice union workers face in 2024 “isn’t about who you like. … Donald Trump stands against everything we stand for as a union – as a society.”The choice between Trump and Biden, Fain said, was clear. Trump has found support among the rank-and-file of the UAW despite Fain’s strong criticisms and union leadership’s consistent support of Democratic candidates.
Persons: Joe Biden, , ” Biden, Biden, Donald Trump’s, Shawn Fain, isn’t, It’s, “ Donald Trump, ” Fain, that’s, … Donald Trump, Fain, “ Joe Biden, Donald Trump, , ” Trump, I’ve, Trump, , Biden –, ” Shawn Fain, Ting Shen, Dan Kildee, ” Kildee, CNN’s Poppy Harlow, Joe Biden’s, Kildee Organizations: Washington CNN, United Auto Workers, Republican, GOP, UAW, Trump, Democratic Party, Great, Bloomberg, Michigan Democrat, Democratic, CNN, GM Locations: Washington ,, New Hampshire, Michigan, America, Israel, Gaza, Great Lakes State, Detroit
Hours after, he was projected to win the New Hampshire primary race even though his name wasn’t on the ballot. “In politics, you run like you’re down when you’re winning or when you’re losing,” Biden campaign co-chair Cedric Richmond said Wednesday. “I think President Biden’s going to help people win, in the end. That is part of what influenced the decision, announced Tuesday, to shift two key West Wing advisers from the White House to Biden’s campaign. But one thing Biden’s teams believe will help center their arguments is a clearer race between Biden and Trump.
Persons: Joe Biden, Donald Trump, Biden, Janet Yellen, you’re, ” Biden, Cedric Richmond, “ We’re, , Nikki Haley’s, Quentin Fulks, Gaza Biden, Joe ”, Debbie Dingell, Jake Tapper, Dingell, Biden’s, We’ve, we’ve, , Jen O’Malley Dillon, Mike Donilon, David Axelrod, Barack Obama, that’s, Lyndon Johnson, Jim Clyburn, Trump, he’s, milkshake Organizations: Washington CNN, Trump, Republican, New, United Auto Workers, UAW, White, Michigan Democrat, ” Democratic, West, White House, Democratic, CNN, , Wing, Biden, Hamas Locations: Gaza, Virginia, New Hampshire, Michigan, Wisconsin, Iowa, Israel, Northern Virginia, Wilmington , Delaware, South Carolina, Nevada
WASHINGTON (AP) — President Joe Biden will be the keynote speaker Wednesday at a United Auto Workers' political convention as he works to sway blue-collar workers his way in critical auto-making swing states such as Michigan and Wisconsin. But as recently as Monday, UAW President Shawn Fain was restrained in his comments, saying as the conference opened, "We have to make our political leaders stand up with us. She said his appearance should remind union members that Biden is on their side. Rothenberg said a union endorsement is important because polling shows many UAW members are often undecided in the spring before a presidential election. By Election Day, members and UAW retirees usually vote 60% Democratic, said Rothenberg, now a public relations consultant in Columbus, Ohio.
Persons: Joe Biden, Biden, Donald Trump, Shawn Fain, , Caroline Loveless, ” Loveless, , ” William Louis of, Louis, Trump, ” Leo Carrillo, Carrillo, , Johannah, Slutzky, Fain, Brian Rothenberg, Rothenberg, Stellantis, didn’t, ” Fain, Wheaton, ___ Krisher Organizations: WASHINGTON, United Auto Workers, Biden, UAW, Republican, autoworkers, PRO, U.S . Senate, Israel, Columbia University, Associated Press, Trump, , Cornell University, GOP, Democratic Locations: Michigan, Wisconsin, Washington, New Hampshire, Detroit, Waterloo , Iowa, ” William Louis of Groton , Connecticut, Kansas City, Gaza, Belvidere , Illinois, Chicago, Columbus , Ohio
CNN —Faculty members at California State University (CSU), the largest public university system in America, have ended their one-day strike after reaching a tentative agreement with management. The union represents 29,000 members including professors, lecturers, librarians, counselors and coaches, across the 23 campuses of Cal State. Our members have won a Tentative Agreement … that includes raising the floor for our most vulnerable faculty, safer workplaces & expanded parental leave,” it said. “The agreement enables the CSU to fairly compensate its valued, world-class faculty while protecting the university system’s long-term financial sustainability,” she added. Thousands of Cal State faculty began striking on Monday, the first day of spring semester classes for much for the university system’s 450,000 student.
Persons: , , Mildred García Organizations: CNN —, California State University, CSU, California Faculty Association, CFA, Cal State, United Auto Workers, Hollywood, Starbucks, Cornell University, Industrial and Labor Relations Locations: America, California, Southern California
CNN —Ford will shut down one of two production shifts in April at the Dearborn, Michigan, factory that builds the F-150 Lightning electric pickup. The move is part of “matching F-150 Lightning production to customer demand,” the company said Friday. While sales of electric vehicles increased in 2023, the growth was slower than many industry experts had expected. Ford still projects an increase in Lightning sales this year after a 55% jump to 24,000 trucks last year. The 24,000 in Lightning sales is still a small fraction of overall Ford F-series pickup sales.
Persons: CNN — Ford, Ford, , , Jim Farley, Carlos Tavares, “ I’ve, ” Tavares, Ramcharger Organizations: CNN, General Motors, Chevrolet Silverado EV, Ford, Lightning, Rouge Electric Vehicle Center, Michigan Assembly Plant, Ford Bronco, United Auto Workers, EV, ” Ford Locations: Dearborn , Michigan, United States, Michigan, Rouge, Tennessee, Kentucky, Europe
Shares of Tesla closed down more than 3% Friday as the stock faced pressure from supply chain delays due to a crisis in the Red Sea, and after offering more price cuts on its vehicles in China. The Iranian-backed Houthi militia group has been attacking cargo ships and merchant vessels in the Red Sea in response to the ongoing war in the Gaza Strip. The Baird analysts wrote that they are "wary" of further effects to Tesla's supply chain, and they are "closely monitoring" any effect on the company's shipping routes from China. "No delays have been cited, however, we speculate that disruptions in the Red Sea may lead to longer wait times as supply chains are rerouted," they wrote. Analysts were also focused on Tesla's continuing price cuts including new discounts in China.
Persons: Tesla, Baird, Morgan Stanley, Price, Hertz, Stephen Scherr, Scherr, unionize Organizations: Tesla, Hertz, Reuters, Baird, United Auto Workers, UAW, Toyota Locations: Red, China, U.S, Berlin, Grunheide, Germany, Jan, Gaza, Europe, Sweden, Scandinavia, Detroit
US President Biden arrives to board Air Force One at Joint Base Andrews in Maryland on December 20, 2023, as he departs for Milwaukee, Wisconsin. Biden could be courting Latino voters in Nevada while simultaneously negotiating a border funding bill that includes stricter immigration policies that are opposed by Hispanic leaders. The Biden campaign has argued that as important as immigration is, public polling and its own research show the economy as the top concern of Latino voters. In 2020, Biden carried both Nevada and Michigan, but by less than 3 percentage points. Only Pennsylvania, Wisconsin, Arizona and Georgia were closer among states Biden carried.
Persons: Biden, Joe Biden's, It's, Joe Biden, Quentin Fulks, Biden's, Fulks, Donald Trump's, we'll, Kamala Harris, Harris, Organizations: Air Force, Joint Base Andrews, Democratic, Israel, Culinary Workers, United Auto Workers, Big Three, UAW Locations: Maryland, Milwaukee , Wisconsin, South Carolina, Nevada and Michigan, Iowa, New Hampshire, Nevada, Michigan, surrogates, Carolina, South Carolina . Michigan, Atlanta, Mandalay Bay, Pennsylvania, Wisconsin, Arizona, Georgia
New York CNN —The longest US auto strike this century is over after a pretty clear win for the United Auto Workers union at all three unionized automakers. “I don’t like what I’ve seen in my work career with the UAW leadership, where they were too damn close to the companies,” UAW President Shawn Fain told CNN earlier this month. So I like to let the body of work speak for itself.”The success of those contracts is the reason that Shawn Fain is CNN Business’ labor leader of the year. All told nearly 800,000 union members got raises of 10% or more during 2023. The plant will be be reopened under the agreement reached between Stellantis and the UAW to end the union's strike at the company.
Persons: Shawn Fain, there’s, Fain, , , I’ve, Sean O’Brien, Fran Drescher, Ted Pappageorge, Bill Greenblatt, Wheaton, Jeff Schuster, It’s, Stellantis, Bianca Flowers, Reuters “, Ray Curry, GlobalData’s Schuster, ” Shawn Fain, we’re Organizations: New, New York CNN, United Auto Workers, UAW, CNN, CNN Business, UPS, SAG, Writers Guild of America, Culinary, Kaiser Permanente, General Motors, Ford, Motors Wentzville, GM, UPI, Cornell University’s School of Industrial and Labor Relations, GlobalData, Jeep, Reuters, Justice Department, Chrysler, Facebook, UAW International Union Locations: New York, Las Vegas, Stellantis, Wentzville , Missouri, Kokomo , Indiana
CVS YTD mountain CVS stock has fallen 15% from the start of the year. KR YTD mountain Kroger stock has added nearly 2% from the start of the year. AER YTD mountain AerCap stock has rise nearly 28% from the start of 2023. GM YTD mountain General Motors stock has gained 8% in 2023. GPN YTD mountain Global Payments stock has risen 27% year to date.
Persons: Patrick Kaser, Kaser, Kroger, there's, AerCap, Kaser's, Aengus Kelly Organizations: Brandywine Global, CNBC, CNBC Fed Survey, Federal Reserve, CVS, Kroger, Albertsons, KR, Aerospace, Motors, United Auto Workers, UBS, GM, General Motors, Global Locations: Brandywine, U.S, Walmart's heft
Southwest Airlines and its pilots' union have reached a new preliminary labor agreement that would give pilots 50% cumulative pay increases over the life of the contract, a deal that could end years of tense negotiations. The five-year deal is worth about $12 billion, Casey Murray, president of the Southwest Airlines Pilots Association, told CNBC on Tuesday. In comparison, larger rival United Airlines ' new four-year pilot contract is worth about $10 billion, according to the aviators' union. Once the contract becomes amendable, Southwest pilots would get 2.5% annual bonuses until the airline and union reach a new agreement. FedEx pilots rejected an preliminary deal earlier this year, while UPS pilots' union is set to start negotiations in mid-2024.
Persons: Casey Murray Organizations: Southwest Airlines, Southwest, U.S, Southwest Airlines Pilots Association, CNBC, United Airlines, United, Delta, FedEx, UPS, U.S . Department of Transportation, Labor, Hollywood, United Auto Workers union Locations: Southwest
10 industry leaders transforming business in 2023
  + stars: | 2023-12-11 | by ( ) www.businessinsider.com   time to read: +20 min
In 2023, Business Insider's annual list of People Transforming Business highlights key players across the advertising, ESG, finance, AI, and labor sectors. Increasingly, they're turning to more opaque private credit markets to borrow money. The world of private credit sits outside the traditional banking system. Analysts expect the private credit market to balloon in size — likely keeping lawyers like Breen very busy. Muthukrishnan is trying to make sense of how risky these private credit loans are by overseeing what is so far the most comprehensive look at vulnerabilities in the industry.
Persons: Mira Murati, who's, Vince Toye, Eileen Fisher, Eileen Fisher Fisher, Guerin Blask, Eileen Fisher Eileen Fisher, she's, Fisher, Janelle Jones, Jones, Lexey, , She's, Justin Breen, Proskauer Breen, Proskauer Justin Breen, he's, Breen, Ares Capital, He's, McLaren, Julie Su, Labor Julie Su, Department of Labor Julie Su, Su, Marty Walsh, Murati, Jim Wilson, Neal Mohan, YouTube Mohan, Katie Thompson, YouTube It's, YouTube isn't, Mohan, Muthukrishnan, Satya Nadella, Microsoft Satya Nadella, Ben Kriemann, Nadella, Steve Ballmer, Mathias Döpfner, Axel Springer, Tim Cook, Apple Cook, Justin Sullivan, Cook, Steve Jobs, Jobs, JPMorgan Chase Toye, JPMorgan Chase, Toye, they'll, Vince Toye's, Bella Sayegh, Rebecca Ungarino, Lara O'Reilly, Juliana Kaplan, Alex Nicoll, Tim Paradis, Stephanie Hallett, Michelle Abrego, Josée Rose, Ryan Joe, Emily Canal, Kaja Whitehouse, Alyssa Powell, Davis, Jonann Brady Organizations: JPMorgan, Service Employees International, SEIU, New York, Ford, Service Employees International Union, United Auto Workers Union, Spelman College, US Department of Labor, Economic Policy Institute, Center for Economic, Research, Department of Labor, The New York Times, Ares, Churchill Asset Management, European, Atlético Madrid, Labor, Labor Department, MacArthur Foundation, New York Times, Dartmouth, OpenAI, Associated Press, YouTube, NFL, DirecTV, Federal, Microsoft, Manipal Institute of Technology, University of Wisconsin -, University of Chicago, Apple, Apple Watch, Google, Time, JPMorgan Chase, National Housing Trust, Trenton Almgren Locations: McDonald's, Lorain , Ohio, Atlanta, California, Los Angeles, Albania, Canada, Muthukrishnan, Hyderabad, India, University of Wisconsin - Milwaukee, OpenAI, Virginia, Wells Fargo, Trenton
Economists polled by Reuters had forecast 9.30 million job openings in October. Job openings decreased by 168,000 in the finance and insurance industry, while real estate, rental and leasing had 49,000 fewer positions. The job openings rate dropped to 5.3% from 5.6% in September. "The current state of the labor market suggests no further recalibration is necessary to bring the labor market back into balance," said Nick Bunker, director of economics research at Indeed Hiring Lab. They also described the labor market as remaining "very competitive," and "trying to get to full staff levels."
Persons: Brian Snyder, Rubeela Farooqi, Nick Bunker, Conrad DeQuadros, November's, Bill Adams, Lucia Mutikani, Chizu Organizations: Taylor Party, Equipment Rentals, REUTERS, Labor, Survey, Labor Department's Bureau of Labor Statistics, Reuters, Treasury, Brean, Institute for Supply Management, PMI, United Auto Workers, UAW, Comerica Bank, Thomson Locations: Somerville , Massachusetts, U.S, WASHINGTON, White Plains , New York, South, Midwest, New York, East, Dallas
Tesla faces a wave of strikes in Sweden, with unions calling for better pay and benefits. Elon Musk called the strikes, which have disrupted deliveries, "insane" in a post on X. Now they are spreading to Denmark, with Danish dockworkers also refusing to unload Tesla's EVs. AdvertisementTesla is embroiled in a growing battle with unions in Europe after the wave of strikes impacting the company in Sweden spread to Denmark. AdvertisementNine other Swedish unions have joined the strike in solidarity, with dockworkers refusing to unload Tesla's cars at ports and electricians refusing to repair the company's charging stations .
Persons: Tesla, Elon Musk, Danish dockworkers, , Jan Villadsen Organizations: Danish, Service, Reuters, Sweden's Transport Agency, Denmark aren't, United Auto Workers, UAW, Business Locations: Sweden, Denmark, Europe, Danish, Swedish, Sweden's
Despite threats to job security such as layoffs, the rise of return-to-office mandates, and the prospect of artificial intelligence taking over jobs, workers have realized what's akin to letting a genie out of the bottle: Their jobs don't have to be just jobs. The push to make jobs back into careers, and good jobs, is just beginning. "And we've also seen just the massive gap between CEO salaries and frontline worker pay." Even so, there's been what Bruno called a "national consciousness raising" around what a quality job is. And thinking toward a future full of quality jobs is a message workers are taking to heart.
Persons: Ingrid Vilorio, She's, Vilorio, It's, Rob Bruno, Bruno, what's, , Julie Su, Biden, Biden administration's, Su, there's, Zers —, Federal Reserve Banks, Keith Wardrip, Wardrip Organizations: University of Illinois, Workers, Treasury Department, Gallup, United Auto Workers, BI, Federal Reserve, Federal Reserve Bank of Philadelphia Locations: California, University of Illinois Urbana, Champaign, America, Philadelphia, Atlanta
Who to Believe? Jerome Powell or the Markets?
  + stars: | 2023-12-04 | by ( Tim Smart | Dec. | At A.M. | ) www.usnews.com   time to read: +4 min
Last Friday provided a split-screen view of the markets and the Federal Reserve. “Indeed, we look for the return of striking workers to add nearly 45K jobs to November’s payrolls. Wednesday brings the first measure of the November job market when private payroll firm ADP releases its monthly survey of employers. October came in at 150,000, a drop from the recent trend of around 200,000 jobs added per month. Consequently, we expect the post-meeting statement will keep the door open to the possibility of additional tightening this cycle.
Persons: Jerome Powell, Powell, ” William Blair, Richard de Chazal, that’s, de Chazal, , payrolls, , Sam Bullard, November’s, Bullard, Wells Fargo Organizations: Federal Reserve, Spelman College, , Futures, United Auto Workers, UAW, Hollywood, Wells, Labor
Lululemon — Shares declined 2% after Wells Fargo downgraded the athleisure company to equal weight from overweight. The firm said Lululemon's prior positive catalysts have already played out, and it forecasts more muted growth in 2024. Spotify — Shares added 8.8% after the music streaming company announced it would lay off 17% of its workforce. The three stocks will replace Sealed Air , Alaska Air Group and SolarEdge Technologies . Virgin Galactic — Shares of the space company plunged nearly 15%.
Persons: Wells, MicroStrategy, Dow, FirstSource, Richard Branson, Branson, KeyBanc, Carvana, Morgan Stanley, — CNBC's Hakyung Kim, Jesse Pound, Alex Harring, Samantha Subin, Yun Li, Lisa Kailai Han, Sarah Min, Michelle Fox Organizations: Marathon, Spotify, Technologies, Uber Technologies, Dow Jones, Builders, Alaska Air Group, SolarEdge Technologies, Galactic —, Financial, United, JPMorgan, Alaska Air Group —, Hawaiian Airlines, Alaska Air, Hawaiian Holdings, General Motors, Cadillac, Chevrolet, Mizuho Securities, United Auto Workers, Palo Alto, Palo Alto Network Locations: MicroStrategy, British, Seattle, Palo
Hybrids "make a ton of money," Jim Cramer said Monday after Ford reported a 75% year-over-year surge in hybrid sales in November to roughly 12,100 vehicles. "Ford should be spewing capital right now," because hybrid vehicles are more profitable than EVs, Jim added. He also suggested that given the new sales numbers Ford could be in better shape than its stock indicates. Perhaps keeping a lid on gains was the 6.5% drop reported in legacy internal combustion engine vehicle (ICE) sales to nearly 124,500 units. Maverick and F-150 trucks drove a 40% increase in hybrid sales in the third quarter, the three months ended in September.
Persons: Jim Cramer, Ford, Jim, Jim Farley, Farley, Jim Cramer's Organizations: Ford, EV, ICE, United Auto Workers, UAW, CNBC, Ford Maverick
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