• Home
  • Politics
  • Health
  • World
  • Business
  • Finance
  • Tech
  • More
    • Sports
    • Entertainment
    • Lifestyle
What's Hot

Short and Funny Sayings for a Happy Summer with Friends

May 9, 2025

Trump Announces First Post-Tariff Trade Deal

May 8, 2025

100 Funny Father’s Day Quotes for Hilariously Relatable Humor (and Plenty of Love Too)

May 8, 2025
Facebook Twitter Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
Friday, May 9
Patriot Now NewsPatriot Now News
  • Home
  • Politics

    Security video shows brazen sexual assault of California woman by homeless man

    October 24, 2023

    Woman makes disturbing discovery after her boyfriend chases away home intruder who stabbed him

    October 24, 2023

    Poll finds Americans overwhelmingly support Israel’s war on Hamas, but younger Americans defend Hamas

    October 24, 2023

    Off-duty pilot charged with 83 counts of attempted murder after allegedly trying to shut off engines midflight on Alaska Airlines

    October 23, 2023

    Leaked audio of Shelia Jackson Lee abusively cursing staffer

    October 22, 2023
  • Health

    Disparities In Cataract Care Are A Sorry Sight

    October 16, 2023

    Vaccine Stocks—Including Pfizer, Moderna, BioNTech And Novavax—Slide Amid Plummeting Demand

    October 16, 2023

    Long-term steroid use should be a last resort

    October 16, 2023

    Rite Aid Files For Bankruptcy With More ‘Underperforming Stores’ To Close

    October 16, 2023

    Who’s Still Dying From Complications Related To Covid-19?

    October 16, 2023
  • World

    New York Democrat Dan Goldman Accuses ‘Conservatives in the South’ of Holding Rallies with ‘Swastikas’

    October 13, 2023

    IDF Ret. Major General Describes Rushing to Save Son, Granddaughter During Hamas Invasion

    October 13, 2023

    Black Lives Matter Group Deletes Tweet Showing Support for Hamas 

    October 13, 2023

    AOC Denounces NYC Rally Cheering Hamas Terrorism: ‘Unacceptable’

    October 13, 2023

    L.A. Prosecutors Call Out Soros-Backed Gascón for Silence on Israel

    October 13, 2023
  • Business

    Trump Announces First Post-Tariff Trade Deal

    May 8, 2025

    Electric Vehicle Sales Nosedive As GOP Takes Buzzsaw To Biden’s Mandate

    May 7, 2025

    Tyson Foods Announces It Will Bend The Knee To Trump Admin’s New Rules

    May 7, 2025

    Federal Reserve Holds Interest Rates Steady Despite Pressure From Trump

    May 7, 2025

    ‘Wait Them Out’: John Kennedy Tells Larry Kudlow One Lie He Suspects China’s Telling US

    May 7, 2025
  • Finance

    Ending China’s De Minimis Exception Brings 3 Benefits for Americans

    April 17, 2025

    The Trump Tariff Shock Should Push Indonesia to Reform Its Economy

    April 17, 2025

    Tariff Talks an Opportunity to Reinvigorate the Japan-US Alliance

    April 17, 2025

    How China’s Companies Are Responding to the US Trade War

    April 16, 2025

    The US Flip-flop Over H20 Chip Restrictions 

    April 16, 2025
  • Tech

    Cruz Confronts Zuckerberg on Pointless Warning for Child Porn Searches

    February 2, 2024

    FTX Abandons Plans to Relaunch Crypto Exchange, Commits to Full Repayment of Customers and Creditors

    February 2, 2024

    Elon Musk Proposes Tesla Reincorporates in Texas After Delaware Judge Voids Pay Package

    February 2, 2024

    Tesla’s Elon Musk Tops Disney’s Bob Iger as Most Overrated Chief Executive

    February 2, 2024

    Mark Zuckerberg’s Wealth Grew $84 Billion in 2023 as Pedophiles Target Children on Facebook, Instagram

    February 2, 2024
  • More
    • Sports
    • Entertainment
    • Lifestyle
Patriot Now NewsPatriot Now News
Home»Business»Morning Bid: Autoworkers’ walkout to test resilience of US economy
Business

Morning Bid: Autoworkers’ walkout to test resilience of US economy

September 16, 2023No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email
United Auto Workers strike at the Ford Michigan Assembly Plant in Wayne

United Auto Workers cheer for their fellow union members as they walk out of their jobs at the Ford Michigan Assembly Plant in Wayne, Michigan, U.S., September 14, 2023. REUTERS/Eric Cox Acquire Licensing Rights

A look at the day ahead in U.S. and global markets from Dhara Ranasinghe

Brewing industrial action looks set to test the resilience of the U.S. economy, and especially jobs markets, that have taken policymakers and markets by surprise given the scale of interest rate rises over the past year.

The United Auto Workers union launched simultaneous strikes at three factories owned by General Motors, Ford and Chrysler parent Stellantis early on Friday, kicking off the most ambitious U.S. industrial labor action in decades.

The walkout by more than 12,000 autoworkers could slow an outperforming U.S. economy should it drag on – even risking the first monthly net drop in payroll employment in nearly three years – but is unlikely on its own to trigger a recession.

Unemployment rate and change in non-farm payrolls for the United States

Yet join the dots elsewhere around the globe and it’s not hard to see why markets should pay more attention to industrial strife against a backdrop of higher inflation and a cost of living crisis in many developed economies.

Workers at Chevron’s (CVX.N) liquefied natural gas Australia projects, accounting for 5% of global supply, started work stoppages a week ago after talks over pay and conditions failed. Strike action there has helped push up gas prices.

Brighter data from China meanwhile has helped lift sentiment across global markets, except for China, heading into the weekend.

See also  ‘Empty Executive Suite’: Boeing Insider Lays Out Company’s Descent Into Diversity Obsession

China’s factory output and retail sales grew at a faster pace in August, but sentiment remains fragile given the country’s property sector woes with expectations for bigger stimulus high.

While Japan’s Nikkei (.N225) rose 1% and European shares opened higher (.STOXX), China shares reversed earlier gains (.CSI300).

European markets continued to cheer the likely end of the European Central Bank’s rate hiking cycle. The ECB on Thursday lifted rates to a record high of 4% but signalled that tightening was likely to be its last.

And even if the ECB suggested rates would stay higher for longer, markets are already looking past that to rate cuts as economic growth weakens.

Wall Street was tipped to open higher, judging by trade in U.S. equity futures.

August U.S. industrial production data could add to recent signs of economic strength supporting investor sentiment.

Lastly, hopes for a turnaround in the moribund market for initial public offerings are running high after SoftBank’s Arm Holdings soared almost 25% above their Nasdaq debut price on Thursday.

Arm shares jumped over 7% in pre-market trade Friday.

Reuters Graphics Reuters Graphics

Key developments that should provide more direction to U.S. markets later on Friday:

NY Sep manufacturing index

U.S. Aug manufacturing output

Uni of Michigan Sept consumer sentiment survey

: .

Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Acquire Licensing Rights, opens new tab
Autoworkers bid Economy Morning resilience Test Walkout
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Trump Announces First Post-Tariff Trade Deal

May 8, 2025

Electric Vehicle Sales Nosedive As GOP Takes Buzzsaw To Biden’s Mandate

May 7, 2025

Tyson Foods Announces It Will Bend The Knee To Trump Admin’s New Rules

May 7, 2025

Federal Reserve Holds Interest Rates Steady Despite Pressure From Trump

May 7, 2025
Add A Comment

Leave A Reply Cancel Reply

Top Posts

Woke Disney Stock Hits 9 Year Low, Down 58 Percent In Two Years

August 25, 2023

New Art Exhibit Allows People To Squeeze Through 2 Naked Models To Enter

September 21, 2023

” I think the ceiling for this team is championship”

March 29, 2023

‘I’m Going To Have A Beer’: Athlete Who Gave Birth Just Months Prior Upsets Iga Swiatek

July 11, 2023
Don't Miss

Short and Funny Sayings for a Happy Summer with Friends

Lifestyle May 9, 2025

I love the beach. Just looking at the calming sea to relax. Having fun in…

Trump Announces First Post-Tariff Trade Deal

May 8, 2025

100 Funny Father’s Day Quotes for Hilariously Relatable Humor (and Plenty of Love Too)

May 8, 2025

Top 10 Benefits Of Acupuncture

May 8, 2025
About
About

This is your World, Tech, Health, Entertainment and Sports website. We provide the latest breaking news straight from the News industry.

We're social. Connect with us:

Facebook Twitter Instagram Pinterest
Categories
  • Business (4,110)
  • Entertainment (4,220)
  • Finance (3,202)
  • Health (1,938)
  • Lifestyle (1,627)
  • Politics (3,084)
  • Sports (4,036)
  • Tech (2,006)
  • Uncategorized (4)
  • World (3,944)
Our Picks

Zelensky Chastises Citizens for Dancing and Drinking During War

August 20, 2023

Can Angels trade Shohei Ohtani for draft picks? Alex Rodriguez’s dubious claim, examined

July 29, 2023

SpaceX Starship launch failed minutes after reaching space

November 19, 2023
Popular Posts

Short and Funny Sayings for a Happy Summer with Friends

May 9, 2025

Trump Announces First Post-Tariff Trade Deal

May 8, 2025

100 Funny Father’s Day Quotes for Hilariously Relatable Humor (and Plenty of Love Too)

May 8, 2025
© 2025 Patriotnownews.com - All rights reserved.
  • Contact
  • Privacy Policy
  • Terms & Conditions

Type above and press Enter to search. Press Esc to cancel.