Retailers Plea For Deal: US Ports, Union Start Two-Day Talk In Effort To Prevent Disruptive Strike
Portfolio Pulse from Michael Juliano
Port employers and the union representing East and Gulf coasts dockworkers are in talks to prevent a strike that could disrupt U.S. maritime commerce. Retailers are urging the White House to help resolve the labor dispute before the September 30 deadline. Major retailers and retail ETFs saw stock declines amid the uncertainty.
September 04, 2024 | 4:03 pm
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NEGATIVE IMPACT
Direxion Daily AMZN Bull 2X Shares slid 1.42% as potential port strikes raise concerns over supply chain disruptions.
The ETF is affected by Amazon's potential supply chain disruptions due to a port strike.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Home Depot's stock fell 0.77% amid concerns over potential port strikes affecting supply chains.
Home Depot relies on imports for its inventory. A port strike could disrupt supply chains, leading to stock declines.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
VanEck Retail ETF fell 0.51% due to concerns over potential port strikes impacting retail stocks.
The ETF's holdings in retail stocks could be affected by supply chain issues from a port strike.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Target's stock fell 0.12% as potential port strikes raise concerns over supply chain disruptions.
Target's supply chain could be disrupted by a port strike, causing stock to decline.
CONFIDENCE 88
IMPORTANCE 65
RELEVANCE 75
NEGATIVE IMPACT
Walmart's stock slipped 0.039% due to concerns over potential disruptions from port strikes.
Walmart's operations could be affected by port disruptions, leading to slight stock declines.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
SPDR S&P Retail ETF declined 0.89% amid fears of port strikes affecting retail supply chains.
The ETF holds retail stocks that could be impacted by supply chain disruptions from a port strike.
CONFIDENCE 92
IMPORTANCE 75
RELEVANCE 85