Stock Market Winners & Losers: Markets Weaken as Yields and Oil Move Higher |Musk Says UAW Demands Could Bankrupt Ford & GM | Amazon sued in Sweeping Antitrust Case

Loser: Markets weaken as yields and oil move higher
- Stocks fell as an uptick in Treasury yields and oil prices dented investor sentiment.
- Oil was up above $93 per barrel.

Loser: Musk Says UAW Demands Could Bankrupt Ford and GM
- Tesla CEO Elon Musk warned that the United Auto Workers’ demands could drive Ford , GM and Chrysler owner Stellantis to bankruptcy,.
“They want a 40% pay raise and a 32 hour work week. Sure fire way to drive GM, Ford and Chrysler bankrupt in the fast lane,” Musk said in a post on X
Wage increases lead to rising prices for cars which will “makes cars unaffordable for average Amercans which leads to major sales drop, which leads to bankruptcy.”
- Tesla’s labor costs average $45 an hour
- GM, Stellantis, and Ford’s estimated $66 an hour.
- UAW wants the workers to get $136 an hour.
- Tesla a nonunion auto maker, is a potential winner from the continuing standoff embroiling three of its competitors.
- The dispute is a “growing nightmare situation” for Ford and GM as they lose money on EVs and only make money on big trucks.

Loser: Amazon sued in a sweeping antitrust case
- The Federal Trade Commission led by Linda Khan and 17 states filed a long-expected antitrust lawsuit against Amazon yesterday,
-The commission accused the online retailer of:
• Punishing sellers who offer products at lower prices on other sites by, for instance, pushing them down Amazon search results and biasing search toward Amazon products.
• Coercing sellers into using Amazon’s fulfillment services to ship products (it’s a prereq to be Prime), and charging them steep fees that are passed down to shoppers.
- The FTC doesn’t have to win each case to pressure Big Tech.
- Amazon’s already sold most of its private-label brands
- Amazon is planning to reopen a program that lets sellers who fulfill their own deliveries get the coveted Prime status.

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