Boeing Strike, Adobe and Oracle, Markets: 3 Things to Know Today
Boeing Strike Continues as Talks Stall
The strike at Boeing continues as talks between the company and the machinists' union remain at a standstill. The strike, which began on Sept. 1, has already cost the company over $1 billion in lost revenue. The union is asking for a 12% pay increase over three years, while Boeing is offering 8%. The strike is the latest in a series of labor disputes in the aerospace industry, and it is unclear when it will end.
Adobe and Oracle Announce Partnership
Adobe and Oracle have announced a partnership that will see the two companies integrate their software products. The partnership will allow Adobe customers to access Oracle's cloud-based data analytics and artificial intelligence services. The partnership is expected to benefit both companies, as Adobe will be able to offer its customers a more comprehensive suite of products, and Oracle will be able to reach a wider audience for its cloud services.
Markets Rebound After Fed Interest Rate Hike
The stock market rebounded on Wednesday after the Federal Reserve raised interest rates by a quarter point. The hike was widely expected, and investors were relieved that it was not more aggressive. The market had been volatile in recent weeks, and the Fed's decision to raise rates provided some relief. The Dow Jones Industrial Average rose by over 300 points, and the Nasdaq Composite Index rose by over 1%. The S&P 500 Index also rose by over 1%.
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