The Rundown Amazon Workers Strike Ahead of Holidays, Palantir Wins Army Contract
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Dec 19, 2024 Recent labor tensions have flared as Amazon warehouse workers plan a strike just before the holidays, reflecting deepening conflicts in the workforce. Meanwhile, Tesla is making waves by expanding its cybercab testing in Austin. On the tech front, Palantir has secured a significant defense contract, highlighting its corporate performance. There’s also growing investor enthusiasm for artificial intelligence, particularly around Perplexity's new search engine, as discussions of market volatility unfold.
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Market Sell-off After Fed Meeting
- The stock market experienced a significant sell-off after the Fed's interest rate decision and Jerome Powell's comments.
- This sell-off was triggered by the Fed's announcement of slowing down interest rate cuts and concerns about inflation and the labor market.
The Fed's Balancing Act
- The Federal Reserve faces a difficult balancing act.
- They aim to control inflation while maintaining a healthy job market, which are currently conflicting goals.
Amazon Warehouse Strike
- Amazon warehouse workers initiated a strike right before Christmas, impacting seven warehouses across the U.S..
- The strike is due to a contract negotiation breakdown between Amazon and the Teamsters Union.