A Virginia-based tech firm has been fined thousands of dollars by the Justice Department after encouraging only white Americans to apply for a new job posting.
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00:00 I'm Conway Gittens reporting from the New York Stock Exchange.
00:02 Here's what we're watching on the street today.
00:05 Stocks began the holiday shortened trading week in mixed fashion.
00:08 The Nasdaq closed at another record, topping 17,000 for the first time.
00:13 But worries about the timing of an interest rate cut by the Federal Reserve hurt bank
00:17 and financial stocks, which weighed on the Dow.
00:20 Investors are eagerly awaiting the PCE index due on Friday for fresh clues on inflation
00:25 and when the Fed could possibly ease rates.
00:29 In other news, a Virginia-based company is in hot water for an online job posting that
00:33 encouraged only white Americans to apply.
00:37 Arthur Grand Technologies, a minority-owned federal contractor, reached a settlement with
00:42 the Department of Justice and the Labor Department, agreeing to pay a civil penalty of $7,500
00:48 and an additional $31,000 to cover complaints.
00:51 The Help Wanted ad for a Salesforce business analyst and insurance claims position went
00:56 up in March 2023.
00:57 It was limited to "only U.S.-born citizens, white or local within 60 miles from Dallas,
01:05 Texas," along with a posting in parentheses where the instruction "don't share with candidates."
01:11 The DOJ said the listing was "shameful" and violated the Immigration and Nationality Act,
01:17 while a Labor Department official said "we are committed to holding federal contractors
01:22 accountable for outrageous discriminatory practices like this advertisement."
01:28 The company claims the job posting had not been approved and was sent out by an employee
01:32 working in India.
01:40 The U.S. Department of Justice has not responded to a request for comment.
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