Stock Market today: Dow slides, geopolitical tensions, spike in Treasury yields
Dow drops as Treasury yields spike, retail sales beat expectations. Goldman Sachs shines, Apple falls, Tesla faces layoffs. Geopolitical tensions rise.
Deutsche Bank News & Breaking Stories
Stock Market Today: Dow Slips, Gold Price Breather, Bitcoin Trades at 20-Month High; Uber, Spotify, and More Premarket Movers
"Stock futures slip ahead of economic data, but Wall Street hopes for rate cuts. U.S. markets back to 12-month highs."
GM increases wage offer ahead of UAW strike deadline
General Motors (GM) has increased its contract offer to a 20% wage hike for US autoworkers in a bid to avoid a strike. Ford Motor has also confirmed it offered a 20% hike and other benefits. The United Auto Workers (UAW) is demanding 40% raises and major improvements in benefits. The UAW has outlined plans for a series of strikes targeting individual auto plants if agreements are not reached. The UAW is asking for 40% raises and major improvements in benefits. A full strike would hit earnings at each affected automaker by about $400 million to $500 million per week.
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