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New Deal democrats Weekly Indicators for October 23 – 27

NewDealdemocrat | October 28, 2023 6:08 pm

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US Economics

Weekly Indicators for October 23 – 27 at Seeking Alpha

– by New Deal democrat

My Weekly Indicators post is up at Seeking Alpha.

With half of reports in, Q3 profits for corporations have made a new all-time high. Meanwhile the stock market has made repeated new 3 month lows. The former is a long leading indicator, the latter a short leading indicator, so we shall see which one proves more accurate.

And in case you haven’t noticed at the pump, gas prices have declined to new 6 month lows as well, so maybe that consumer spending spree can continue for awhile.

As usual, clicking over and reading will bring you up to the virtual moment as to the economy, and reward me a tiny little bit for my efforts.

New Deal democrats Weekly Indicators for October 16 – 20, Angry Bear, New Deal democrat

2 Comments

Fred C. Dobbs says:

October 30, 2023 at 10:54 am

NY Times – just in

G.M. Said to Reach Tentative Deal With U.A.W.

General Motors became the last of the three large U.S. automakers to reach a tentative agreement on a new contract with the United Automobile Workers union.

General Motors and the United Automobile Workers union reached a tentative agreement on a new labor contract on Monday, according to two people familiar with the matter, setting the stage for an end to the union’s six-week wave of strikes against the three large U.S. automakers.

The agreement comes days after the union announced tentative agreements with Ford Motor and Stellantis on new contracts. The three deals contain many of the same or similar terms, including a 25 percent general wage increase for U.A.W. members as well as the possibility for cost-of-living wage adjustments if inflation flares. …
- Fred C. Dobbs says:
  
  October 30, 2023 at 1:46 pm
  
  Autoworkers Score Big Wins in New Contracts With Carmakers
  
  NY Times – just in
  
  Tentative accords at Ford Motor, General Motors and Stellantis are the most generous in decades, raising costs as the industry shifts to electric vehicles.
  
  A six-week wave of strikes that hobbled the three largest U.S. automakers has put workers on track for new contracts — the third deal, with General Motors, was firming up on Monday — that will deliver the biggest pay raise workers will receive in decades while avoiding a protracted work stoppage that could have damaged the economy.
  
  The separate but similar deals that the United Automobile Workers union reached in recent days with Ford Motor, G.M. and Stellantis, the maker of Ram, Jeep and Chrysler, will be costly for the automakers as they undertake a switch to electric vehicles. The deals could also set the stage for labor strife and demand for higher pay at nonunion automakers like Tesla and Toyota.
  
  The tentative agreements, which must still be ratified by union members, also appeared to be a win for President Biden, who had risked political capital by picketing with striking workers at a G.M. facility in Michigan last month.
  
  “I think it’s great,” the president as he boarded Air Force One Monday morning, shortly after word arrived that G.M. appeared to have followed Ford and Stellantis in reaching a deal with the union. …