TheStreet’s JD Durkin brings the latest business headlines from the New York Stock Exchange as markets close for trading on Friday, November 3.
Full video transcript below:
JD DURKIN:I’m JD Durkin, reporting from the New York Stock Exchange.
stocks closed today’s session in green. The Dow closed up more than 200 points, the Nasdaq closed up 1.3 percent and the S&P closed up just under one percent, marking the stock market‘s best week since the year past. This optimism comes after the October employment report showed signs of cooling in the labor market. Investors are hoping this will give the Federal Reserve reason to stop raising interest rates.
And in other news, if you’re heading to Las Vegas next week, you might end up waiting a while for your food or drink. Thirty-five thousand members of the Culinary Workers Union Local 226 and the Bartenders Union Local 165 are preparing for a strike starting November 10.
If workers walk off the job, they would do so at 18 casino resorts on the Strip, including Bellagio, Excalibur and nine Caesars properties. A Culinary Union representative issued a statement saying of the casinos: “Their current proposal on the table is historic, but it is not enough, and workers deserve to have record contracts, especially after these giant corporations are enjoying their record profits.” .
Nevada casinos generated a record $14.8 billion in gaming revenue last year.
Workers are seeking a new five-year deal that, among other things, calls for better wages, a lighter workload and updated safety protections.
That will be enough for your daily briefing. From the New York Stock Exchange, I’m JD Durkin of TheStreet.
