UPS and the Teamsters have reached a tentative deal on a new contract. This could potentially avoid a strike, which could have started as soon as next week and crippled U.S. supply chains.
The tentative agreement still needs to be ratified by about 340,000 Teamsters at UPS to end the threat of a strike altogether. That ratification process will take a little more than three weeks. A no vote by membership could still trigger a strike, but that walkout would now take place in late August, not the original Aug. 1 strike deadline.
The Conference Board said its consumer confidence index rose to 117 this month, the highest reading since July 2021. The Conference Board’s chief economist says, “Greater confidence was evident across all age groups, and among both consumers earning incomes less than $50,000 and those making more than $100,000.”
