Dow dives 650 points after Powell’s omicron, inflation warning

All Posts in "Month: December 2021"

Dow dives 650 points after Powell’s omicron, inflation warning

Slatestone Wealth chief market strategist Kenny Polcari and Kearney head of consumer and retail practice Greg Portell discuss market movement amid new coronavirus developments and Black Friday shopping.

U.S. stocks finished in the red on Tuesday after Federal Reserve Chair Jerome Powell warned the omicron variant could result in a faster path to tapering.

The Dow Jones Industrial average tumbled over 650 points, or 1.8%, while the S&P 500 and Nasdaq Composite slipped 1.9% and 1.5%, respectively.

Ticker	Security	Last	Change	Change %
I:DJI	DOW JONES AVERAGES	34483.72	-652.22	-1.86%
SP500	S&P 500	4567	-88.27	-1.90%
I:COMP	NASDAQ COMPOSITE INDEX	15537.690666	-245.14	-1.55%

Powell told members of Congress that the omicron variant could mean policymakers may need to speed up the pace of previously outlined tapering plans. He also noted the U.S. will get a clearer picture on the variant in about ten days.

On inflation, he said removing

Labor group says Amazon massively underreported Covid cases contracted at work

The company’s reporting amounts to a “hidden pandemic,” according to a coalition of four unions interested in establishing representation for Amazon workers.

“The company systematically failed to record Covid-19 cases in its warehouses, recording only 27 work-related illnesses for all of 2020 in the category that includes Covid-19 infections,” said the report from the Strategic Organizing Center, which is made up of the Teamsters union, the Service Employees Union, the Communication Workers of America and the United Farm Workers of America.

The group notes that Amazon put out a statement to employees on October 1, 2020, in which it said that 19,816 US employees had tested positive for Covid through September 19 of that year, prior to the late-year surge that increased the number of cases nationwide.

The labor group has sent a complaint to Assistant Secretary of Labor Douglas Parker, urging the Occupational Health and Safety Administration to investigate … Read more

by Breanne Logiudice — December 1, 2021 in Amazon Business

10 Tips for Starting a Successful Business for Beginners

Success is something that everyone is looking for. One way that many people do to achieve this is to start a business. The thought of becoming an entrepreneur has become a trend in all circles of society, especially young people. Therefore, today many people are already successful entrepreneurs at a young age. This is indeed not surprising because many people are starting to feel tired and limited by just being an employee, so the thought of starting a business is their choice.

To successfully start a business does not always run smoothly. It takes some skills and steps that must do must do correctly. There is even a thought that not everyone can become an entrepreneur. But actually, anyone can become an entrepreneur if they are willing to study and work hard. Scott Gerber is a young entrepreneur, author, and investor from the United States. The following are ten tips … Read more

by Breanne Logiudice — December 1, 2021 in Amazon Business

Watch out for social media advent calendar scams

BBB Scam Tracker is getting reports of a seasonal spin on social media ad scams. This time, scammers are targeting holiday shoppers with themed advent calendars.

How the Scam Works

As you scroll through your social media feed, you come across a themed advent calendar that looks fun and unique. Judging by the comments on the post, many people have already purchased the item and love it. The post links you to a website where you can make your purchase. Everything looks normal and the price is reasonable, so you place an order. Your credit card is charged, but as the days turn into weeks, you start wondering if you’ll ever receive the calendar.

In most cases, your calendar never arrives because it never existed. One consumer told BBB Scam Tracker: “I saw an ad on Facebook for a Healing Crystal Advent Calendar. I read the reviews below the ad