Transcript:
I’m Conway Gittens reporting from the New York Stock Exchange. Here’s what we’re watching on TheStreet today.
Wall Street is trying to find its footing one day after the Dow soared in its biggest rally in more than a year. A mostly upbeat start to earnings season continues with better-than-expected quarterly results from Johnson and Johnson. Positive sentiment, however, is being partly offset by geopolitical tensions. Several news outlets are reporting that the White House is preparing to put restrictions on certain auto components made in China.
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In other news, Amazon Prime Day (AMZN) may be a big winner for the online retailer, but the sales event is wreaking havoc on its workers, according to a U.S. Senate report
Using company data from Prime Day 2019, the report found injuries at Amazon warehouses that were serious enough to require disclosure to the Occupational Safety and Health Administration topped 10 per 100 employees. That number was more than double the average for the entire warehouse and storage industry. Amazon’s total injury rate for that period, which includes less serious injuries, came in at around 45 per 100 employees
The Senate Committee on Health, Education, Labor and Pensions said “These injury rates are especially egregious in light of the incredible revenue the company generates and the resources it has available to make its warehouses safe for workers.”
Amazon says that employee safety is a high priority and that it has made many changes over the years to make its warehouses safer.
Prime Day has become a major source of revenue for Amazon. In 2023, the two-day event brought in $12.7 billion in sales.
That’ll do it for your Daily Briefing. From the New York Stock Exchange, I”m Conway Gittens with TheStreet.
Related: Amazon Prime Day offers cruise and travel deals 2024
