Longshoremen Strike Looms, Standoff Could Cost $1B A Day, Leave Thanksgiving Prep In A Pinch
Portfolio Pulse from Anthony Noto
A potential strike by the International Longshoremen's Association (ILA) could freeze activity at major U.S. ports, impacting billions of dollars worth of goods and complicating holiday shopping. The strike could cost the economy $1 billion a day, with President Biden choosing not to intervene. The standoff involves demands for a significant pay raise and concerns over labor-saving technology. ETFs like Breakwave Dry Bulk Shipping ETF (BDRY) and SPDR S&P Transportation ETF (XTN) could be affected.
September 30, 2024 | 4:04 pm
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NEGATIVE IMPACT
The Breakwave Dry Bulk Shipping ETF could be impacted by the potential longshoremen strike, as it focuses on dry bulk shipping, which may face disruptions.
The Breakwave Dry Bulk Shipping ETF focuses on dry bulk shipping, which could be directly affected by port disruptions caused by the strike, leading to potential negative impacts on the ETF's performance.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
The SPDR S&P Transportation ETF, which includes shipping companies and logistics providers, could be negatively impacted by the potential longshoremen strike.
The SPDR S&P Transportation ETF includes companies in the shipping and logistics sectors, which could face operational disruptions due to the strike, potentially affecting the ETF's performance.
CONFIDENCE 85
IMPORTANCE 65
RELEVANCE 75