The Street
  • 3 months ago
TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and why 10,000 hotel workers hit the picket lines.

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Transcript
00:00I'm Caroline Woods reporting from the New York Stock Exchange.
00:03Here's what we're watching on the street today.
00:05Wall Street is looking to continue the gains it made in August.
00:08Despite the short trading week, investors will be looking out for a slew of fresh economic
00:13data, including the JOLTS report on Wednesday and the August jobs report on Friday.
00:19The Federal Reserve is set to release its Beige Book this week as well, with the central
00:23bank's two-day meeting beginning on September 17th.
00:27In other business news, more than 10,000 hotel workers from across the country hit
00:32the picket lines on Sunday, throwing a wrench into one of the busiest travel weekends of
00:36the year.
00:37The striking workers include employees from Hilton, Hyatt and Marriott, and stretched
00:42from the East Coast to Hawaii.
00:44Unite Here, the union representing the workers, says the strike isn't just about more money.
00:50Union President Gwen Mills said in a statement,
00:52During COVID, everyone suffered, but now the hotel industry is making record profits while
00:57workers and guests are left behind.
00:59Too many hotels still haven't restored standard services the guests deserve.
01:03Workers aren't making enough to support their families.
01:06Many can no longer afford to live in the cities they welcome guests to.
01:10The affected hotels have remained open, but many guests may not get the services they're
01:14used to receiving.
01:16The current strike, which is set to end after three days, has affected 24 hotels with a
01:20combined 23,000 rooms.
01:23However, things might get tougher before they get better, with Unite Here threatening to
01:27expand the strike to 65 hotels across 12 U.S. cities.
01:33That'll do it for your daily briefing.
01:34I'm Caroline Woods with The Street.

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