President Joe Biden is traveling to Michigan on Tuesday, September 26th to support the UAW strikes. Former President Donald Trump says he will visit with autoworkers in Detroit on Wednesday instead of attending the second Republican presidential debate. On the earnings side, Costco (COST) will be reporting its fourth quarter results next week as well as Nike (NKE), which will be reporting its first quarter results on Thursday, September 28th. On the economic front, the consumer confidence index for September will be released on Tuesday, September 26th. Core PCE inflation data for August will be released on Friday, September 29th. This is one of the key economic data points that the Federal Reserve will be looking at for its next interest rate hike decision. Yahoo Finance's Josh Lipton takes a look at what to watch next week. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
The UAW is expanding its strike against General Motors (GM) and Stellantis (STLA). Autoworkers are still striking Ford (F), but the will not widen the scope of the strike because progress has been made in negotiations. The summer saw lots of labor activity, Hollywood actors and writers going on strike and Teamsters getting a new deal from United Parcel Service (UPS). Service Employees International Union President Mary Kay Henry says workers are saying "enough is enough. You're doing better as a company, I need to do better as a working person in this country." When asked if labor unions are being more active now because the labor market is so tight, Henry says it's a different conversation. Henry points out that workers are taking on economic risk when they go on strike. "I think what is happening across the economy is workers are taking inspiration from each other," Henry says. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Carmakers return almost $85bn to shareholders and raise CEO pay but production line wages fall in real terms