- US stocks edged lower on Friday as investors digest the UAW strike against Detroit’s Big 3 automakers.
- China’s economy showed some encouraging signs with retail sales and industrial production up.
- Friday is a triple witching day, in which $4 trillion of options contracts are set to expire.
US stocks edged slightly lower on Friday after the United Auto Workers went on strike against Detroit’s top automakers.
The strike represents the first time in history that employees at the Big 3 — Ford, General Motors, and Stellantis — went on strike at the same time. Nearly 13,000 autoworkers are striking for increased pay amid the transition from gasoline-powered cars to electric vehicles.
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