With the contract between the United Auto Workers union and the three major carmakers in the U.S. set to expire just shy of midnight, there is a lot at stake, including an already fragile economy. Cheddar News senior reporter Michelle Castillo talked about what the union is seeking in its new agreement and whether or not the big three automakers are willing to concede or meet somewhere in the middle.
Stocks dipped Friday morning after the yield on the benchmark 10-year Treasury crossed 5% for the first time in 16 years and also following Fed Chair Jerome Powell's remarks on Thursday.
Federal Reserve Chair Jerome Powell said Thursday that inflation remains too high and that bringing it down to the Fed's target level will likely require a slower-growing economy and job market.
