Morning Brief
US dockworkers strike, Dow, S&P 500 record highs
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Show notes
Today's show focuses on the major dockworkers' strike that has halted operations at 36 ports along the Gulf and East coasts. This marks the first coast-wide strike for members of the International Longshoremen's Association since 1977.
Takeaways
Around 45,000 port workers across the East and Gulf Coasts are on strike after failing to reach an agreement on a new labor contract. This is the first East and Gulf Coast port strike in nearly 50 years.
The S&P 500 (^GSPC) and Dow Jones Industrial Average (^DJI) closed at record highs on Monday, finishing out the month of September and the third quarter in the green. It was the first positive September for the S&P 500 since 2019, defying what's historically a weak month for stocks.
Wall Street is awaiting the latest read on the economy, with JOLTS (Job Openings and Labor Turnover Survey) and PMI (Purchasing Managers’ Index) expected to be released this morning.
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