TheStreet's J.D. Durkin brings the latest business headlines from the floor of the New York Stock Exchange as markets open for trading Friday, November 17.
Full Video Transcript Below:
J.D. DURKIN: I’m J.D. Durkin - reporting from the New York Stock Exchange. Here’s what we’re watching on TheStreet today.
Stocks are on pace to close out yet another week in positive territory – encouraging data showed a drop in inflation last month, giving investors hope that the Fed may be nearing the end of its rate hike cycle.
Meanwhile, almost every company in the S&P 500 has reported third quarter results. Of those, over 80 percent have beat Wall Street expectations, with most sectors performing well over all.
In other news - as employees try to keep their work from home lifestyle, Amazon continues to push hard for its workers to return to the office.
Amazon currently requires corporate employees to work from the office three days a week, and now it’s holding potential career advancement over the heads of those who fail to do so. According to posts on its internal website, employees who refuse to comply with the in-person policy could have promotions withheld.
And Amazon isn’t shying away from its stance, telling CNBC quote “Promotions are one of the many ways we support employees’ growth and development, and there are a variety of factors we consider when determining an employee’s readiness for the next level. Like any company, we expect employees who are being considered for promotion to be in compliance with company guidelines and policies.”
Back in February, Amazon employees created an internal petition asking CEO Andy Jassey to drop the mandate, but the company hasn’t changed the policy.
That’ll do it for your daily briefing. From the New York Stock Exchange, I’m J.D. Durkin with TheStreet.
