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Business Rundown: Looming Port Strike, "Another Risk To Reigniting Inflation"
Manage episode 442816525 series 3330134
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Last week, both the Dow and S&P 500 saw record highs as investors rushed to take advantage of the Fed’s latest rate cut, coupled with good economic data showing slowing inflation and rising GDP.
But now Wall Street is anticipating a consequential data point about the direction unemployment is headed in America: the September jobs report. At the same time, the International Longshoremen’s Association will go on strike Tuesday if their union demands are not met. A strike at this major East Coast port would become America’s biggest supply chain disruption since the pandemic.
The Big Money Show co-anchor Taylor Riggs is joined by Payne Capital Management President, Ryan Payne. Together they discuss the recent record highs in the stock market, what’s driving China’s latest stock surge, and why the looming port strike threatens to push inflation in the wrong direction. Later, they analyze China’s latest stock market surge.
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