Stuart Varney: Hurricane Helene victims are very conscious of a crippling port strike

Published On Oct 1, 2024, 11:49 AM

Stuart Varney discusses the impact of a port strike by nearly 50,000 unionized workers on the recovery efforts following Hurricane Helene. The workers are demanding a 77% wage increase and a ban on automation, which could severely disrupt food and supply deliveries, especially to areas in North Carolina that were hit hard by the hurricane. Varney criticizes the Biden administration for not intervening in the strike and highlights the potential economic fallout if the strike continues, suggesting that the strike is holding America 'to ransom'.

Read full article

Stock Forecasts

DBAView DBA chart on TradingView

Negative

Investors should be wary of supply chain disruptions that could affect food and commodity stocks due to the ongoing port strike. The strike is likely to create shortages which may lead to increased prices and volatility in related sectors.

Related News

What food items saw the largest price hikes and declines in September?

Oct 10, 2024, 2:49 PM

The Labor Department's latest consumer price index data showed that inflation continues to strain consumers' food budgets, with some items seeing notable price increases.

CAG
DBA
KR

Will the dockworkers' strike cause higher food prices? Experts weigh in

Oct 1, 2024, 6:18 PM

A strike by unionized dockworkers at East Coast and Gulf Coast ports could have a potential impact on consumers due to higher food prices caused by delayed or canceled shipments.

CORN
DBA

Stuart Varney: Hurricane Helene victims are very conscious of a crippling port strike

Oct 1, 2024, 11:49 AM

FOX Business' Stuart Varney discusses how the port strike by union workers from Texas to Maine could affect the economy, election and Hurricane Helene relief.

DBA