Earnings and economic data will begin on the 22nd anniversary of 9/11, with the largest IPO of 2023 expected midweek and UAW deadline for Ford, GM and Stellantis this week.
The labor union is seeking a 46% pay raise over the four-year contract along with an array of additional benefits, including a reduction of the workweek to 32 hours for 40 hours worth of pay at Ford, GM and Dodge parent Stellantis, whose latest offers the UAW rejected last month.
Shawn Fain, president of the United Auto Workers, center left, walks with demonstrators during a UAW practice picket outside the Stellantis Mack Assembly Plant in Detroit, Michigan, on Wednesday, Aug. 23, 2023. Meanwhile, economic reporting is expected on initial jobless claims and retail sales, which should hold fresh clues about back-to-school spending as well as the Producer Price Index, a measure of inflation at the wholesale level.
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