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Wall Street s rally hit a wall after a surprisingly strong jobs report fueled worries about inflation and higher interest rates. T
stanley tumbler he SP 500 fell 1% Friday, its first
stanley thermos mug drop in four days, though it took an up-and-down route to get there. The bond market was more decisive in thinking the strong jobs data may push the Federal Reserve to get firmer on high interest rates, which hurt the economy and markets. Treasury yields zoomed higher. Tech stocks also weighed on the market following profit reports that were weaker than expected. The Nasdaq gave back 1.6% and the Dow lost 0.4%.The Dow Jones Industrial Average was down 155 points, or 0.5%, at 33,898, as of 3:14 p.m. Eastern time, while the Nasdaq composite was 1.6% lower.The market already looked like it was set to weaken coming into the day, before the jolting jobs report dropped. Late Thursday, several Big Tech companies among Wall Street s most influential reported weaker profit for the latest quarter than analysts expected.That cast concerns over a rally that had brought the SP 500 back to its highest level since August, driven by hopes that cooling inflation may get the Federal Reserve to take a pause soon on its hikes to interest rates and possibly even cut them by late this year.Then came the jobs report, which showed
stanley cup employers created a net 517,000 jobs last month. That was way above the 185,000 that economists expected and a sharp acceleration from December s 226,000 jobs.Normally, a stronger jobs report is good Ppre Iris Apfel, fashion icon known for her eye-catching style, dies at 102
CHICAGO, Ill. 鈥?The pandemic has led to a global shortage of truck drivers.Stagnant wages, uncertainty and safety concerns have con
caneca stanley tributed to the shortage, but some employers are now willing to pay big bucks to those willing to strap in for the long haul.The truck driver shortage has increasingly been a problem for decades. But with the pandemic causing manufacturing hubs to shut down, cargo and freight demand was affected as well. When we shuttered manufacturing and we shut down all the imports and exports and everything came to a screeching halt, everyone turned in their trucks, said Jim Grundy, the CEO of Sisu Energy. The Texas-based bulk commodity carrier provides transportation services for companies like Amazon and J.B. Hunt. Youve seen anywhere from 40 to 50% of the entire driver pool leave the industry just in the last 12 months, said Grundy. It s been substantially damaging to various companies and you re seeing rates correspond, which then get handed off to the end user. The pandemic also has been a major speed bump in the training, testing and licensing of commercial truck drivers. There s no one coming through these trucking programs for schools right now, Grundy said. The biggest issue is the juice isn t worth the squeeze for the younger
stanley thermobecher generation of folks. Wages have been the biggest obstacle.A recent Centerline study shows 75% of truck drivers said competitive pay is the top factor to take a job. Half said existing wages are not comp
stanley botella etitive enough.But la
