Fed's Goolsbee Says Auto Strikes Historically Don't Do Anything At The National Level; UAW Strike Is Not Rippling Through Economy; If They Did Not Approve Deal And Strike Came Back And Expanded, Would Need To Recalculate
Portfolio Pulse from Benzinga Newsdesk
Fed's Goolsbee commented that auto strikes, historically, do not impact the national economy significantly. He mentioned that the current UAW strike is not causing widespread economic ripples. However, he also noted that if the deal is not approved and the strike resumes and widens, there would be a need to reassess the situation.
November 14, 2023 | 6:18 pm
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NEUTRAL IMPACT
Ford is not currently experiencing significant economic impact from the UAW strike according to Fed's Goolsbee, but the situation could change if the strike expands.
While the current strike is not significantly impacting Ford, the potential for an expanded strike could introduce uncertainty and risk, potentially affecting Ford's short-term stock performance.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 70
NEUTRAL IMPACT
General Motors is not seeing a major economic impact from the UAW strike as per Fed's Goolsbee, but an escalation could alter the outlook.
General Motors is not currently affected by the UAW strike at a level that would influence stock prices, but the company could face risks if the strike expands.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 70
NEUTRAL IMPACT
The S&P 500 ETF, SPY, is not being impacted by the UAW strike according to Fed's Goolsbee, but a broader strike could necessitate a reassessment of its effects.
SPY, which tracks a broad range of companies, is less likely to be affected by industry-specific labor issues unless they escalate to a level that affects the broader economy.
CONFIDENCE 80
IMPORTANCE 30
RELEVANCE 50
NEUTRAL IMPACT
Stellantis is not currently affected by the UAW strike, as stated by Fed's Goolsbee, but the company should monitor the situation for any changes.
Stellantis' operations and stock price are not significantly impacted by the current UAW strike, but the company could face future risks if the labor dispute escalates.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 70