TheStreet’s J.D. Durkin brings the latest business headlines from the floor of the New York Stock Exchange as markets open for trading Tuesday, March 12.
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.
Investors are reacting to a key inflation report – consumer prices rose 0.4 percent in February, marking a 3.2 percent increase from a year ago, roughly in line with analyst expectations. While inflation has cooled significantly since the 2021 highs, this figure is still well above the Fed’s 2 percent target. The Fed will take this report into consideration when it makes its next interest rate decision.
In other news - today is Equal Pay Day, and it represents how far into the year women must work to earn what men earned in the previous year. In other words, women need to work 14 and a half months to earn what men make in just 12.
According to the National Committee on Pay Equity - for every dollar a man makes, a woman earns 84 cents. That’s up just five cents from a decade ago, and less than a cent from last year. And that just incorporates full-time workers. If part-time and seasonal workers are included, that number drops to 78 cents.
Of the pay disparity, President Joe Biden released a statement saying, "Women's labor force participation is the highest it has been in decades, and the gender pay gap is the narrowest it has ever been on record. Yet, despite this progress, the fight for equal pay continues."
Equal Pay Day was originally created by the National Committee on Pay Equity in 1996.
That’ll do it for your daily briefing. From the New York Stock Exchange, I’m J.D. Durkin with TheStreet.
