Bloomberg Surveillance
Surveillance: Time to Buy with Emanuel
Sep 29, 2023
Julian Emanuel suggests it's time to buy equities. Veronica Clark discusses US economic data. Alan Ruskin talks about the BOJ's fine line. Patrick Anderson discusses UAW strikes and electric vehicle transition.
28:52
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Quick takeaways
- The ongoing auto manufacturing strikes have caused significant financial losses and disruptions to the industry, with an estimated cost of $1.6 billion in lost wages in just the first week.
- Negotiations between automakers and the United Auto Workers (UAW) have become contentious, with the UAW demanding more than just wage increases, which raises concerns about potential bankruptcy risks for automakers and extends the duration of the strikes.
Deep dives
Effects of Auto Manufacturing Strikes on the Industry
The recent auto manufacturing strikes have caused significant disruptions and financial losses. In the first week alone, the strikes cost the industry $1.6 billion, primarily in lost wages. The costs are expected to escalate over the next few weeks as the strikes continue. The strikes have impacted not only the automakers but also UAW and non-UAW suppliers. Additionally, the strikes have led to reduced inventory, which may result in higher car prices in the near term.
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