Transcript:
Caroline Woods: I’m Caroline Woods reporting from the New York Stock Exchange - here’s what we’re watching today on TheStreet.
Wall Street is looking to continue the gains it made in August. Despite the short trading week, investors will be looking out for a slew of fresh economic data, including the JOLTS report on Wednesday and the August jobs report on Friday. The Fed is set to release its Beige Book this week, as well.
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In other business news - more than 10,000 hotel workers from across the country hit the picket lines on Sunday, throwing a wrench into one of the busiest travel weekends of the year. The striking workers include employees from Hilton, Hyatt, and Marriott - and stretch from the east coast to Hawaii.
Unite Here, the union representing the workers, says the strike isn’t just about more money. Union President Gwen Mills said in a statement ““During Covid, everyone suffered, but now the hotel industry is making record profits while workers and guests are left behind. Too many hotels still haven’t restored standard services that guests deserve. Workers aren’t making enough to support their families. Many can no longer afford to live in the cities that they welcome guests to.”
The affected hotels have remained open, but guests may not get all of the services they’re used to receiving.
The current strike, which is set to end after three days, has affected 24 hotels with a combined 23,000 rooms. However things might get tougher before they get better, with Unite Here threatening to expand the strike to 65 hotels across 12 U.S. cities.
That’ll do it for your Daily Briefing - I’m Caroline Woods with TheStreet.
Related: Watch out: A new scam targets those checking out of hotels
