The ILA Labor Strike: Will It Break the U.S. Economy? | The Daily Peel 🍌

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4.9 • 534 Ratings

🗓️ 1 October 2024

⏱️ 24 minutes

🔗️ Recording | iTunes | RSS

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Summary

In today's episode of The Daily Peel, we dive deep into the impending labor strike by the International Longshoremen Association (ILA) and its potential impact on the U.S. economy. With 85,000 members demanding a staggering 77% wage increase, we explore how this could disrupt major ports and affect key importing companies. Don't miss our analysis of the economic consequences and what it means for consumers. Tune in now! ----------------------------------------------------------- 🎯 𝗟𝗔𝗡𝗗 𝗔 𝟲-𝗙𝗜𝗚𝗨𝗥𝗘 𝗛𝗜𝗚𝗛 𝗙𝗜𝗡𝗔𝗡𝗖𝗘 𝗥𝗢𝗟𝗘 (𝗚𝗨𝗔𝗥𝗔𝗡𝗧𝗘𝗘𝗗) Interested in landing a role that can pay you upward of $𝟮𝟬𝟬,𝟬𝟬𝟬 right out of the gate? What if that was guaranteed? Come learn more about WSO Academy: https://www.wallstreetoasis.com/academy?affiliate=socialwinner-youtube ----------------------------------------------------------- 𝗪𝗦𝗢 𝗪𝗲𝗲𝗸𝗹𝘆 𝗪𝗿𝗮𝗽𝘂𝗽 - ⁠⁠𝗦𝗶𝗴𝗻 𝗨𝗽 𝗳𝗼𝗿 𝘁𝗵𝗲 𝗡𝗲𝘄𝘀𝗹𝗲𝘁𝘁𝗲𝗿 𝗛𝗲𝗿𝗲⁠⁠ https://www.wallstreetoasis.com/media/newsletters/wso-weekly-wrapup The Daily Peel - Sign Up Here https://www.wallstreetoasis.com/media/newsletters/the-daily-peel Join our Discord - Sign Up Here https://discord.gg/Dn3YJZTbsF ----------------------------------------------------------- 𝗪𝗦𝗢 𝗣𝗼𝗱𝗰𝗮𝘀𝘁: Apple: https://podcasts.apple.com/us/podcast/wall-street-oasis/id1463441793 Spotify: https://open.spotify.com/show/7nQxuApNXFkUSvojQGKyAQ?si=GrYh2zIHSsub8S8xIX0PjQ&nd=1 Stitcher: https://www.stitcher.com/show/wall-street-oasis-2 ----------------------------------------------------------- WSO Courses: https://bit.ly/2ESzrv2 WSO Resume Review: https://bit.ly/2Z0DFYq WSO Mentors: https://bit.ly/3lIHoUi WSO Events: https://bit.ly/350vMGd

Transcript

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0:00.0	There is a huge labor strike that's about to unfold and completely bend over the U.S. economy.
0:12.0	What's up, Apes? Welcome back to another edition of the Daily Peel's Daily podcast of the day.
0:16.2	Thank you all for joining us here once again on this beautiful Monday. It is September 30th, 20th, 2004. Appreciate you all joining us here on your absolute favorite podcast in the
0:25.1	entire world. You could have been anywhere else in the world for the next 20 minutes or
0:28.9	so, but you're going to spend it with me and you're going to want to because some pretty
0:32.8	interesting stuff going on in the world here today. There is a huge labor strike that's
0:36.7	about to unfold and completely
0:37.8	bend over the U.S. economy. Meanwhile, speaking of being bent over, Twitter X, Elon Musk's social media app,
0:44.7	X.com, is also getting bent over by Fidelity specifically. Now, we've seen a couple updates to its
0:51.2	valuation, but this was easily the most hefty valuation haircut that the firm has received since going public and what's arguably the worst leverage buyout in the history of capitalism potentially.
1:01.8	So a lot of interesting stuff going on today.
1:04.0	Let's go ahead and start off with some of the big market movers.
1:06.5	So WSO portfolio, this is our proprietary long-term trading portfolio over here from the
1:12.2	Apes at WSO Alpha. We were down about 11 basis points on the session here today. Kind of a rough
1:17.4	day for us. It was a rough day for most markets to, you know, through to about 2, 2.30 p.m. Eastern
1:24.1	standard time. But then J.P. Pal got up there and started fucking run in his mouth,
1:27.7	as he always does. He didn't say anything of consequence whatsoever. Markets still took it as a reason to hit the nitrous and shoot to the moon. So we had the SP 500 finish the day up 42 basis points. The NASDAQ was up 38 basis points. The Russell 2,000, up 25 basis points in the Dow. Not that anybody cares was up four basis points.
1:44.9	Please do not care about the Dow whatsoever. It's tough to outperform when Apple is the top performer
1:49.6	in the WSO-Alpha portfolio because it is where technically we would be underweight compared
1:55.1	to the S&P 500, even though it is one of our larger positions because it's huge in the S&P 500.
1:59.7	So Apple's shares were up about 2.3,
2:02.4	about 2.3% for the session today. And so them leading the S&P and the NASDAQ just kind of
	...

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