Stock Market Winners & Losers: Stocks Swim in a Sea of Red as Rate Hits 2024 Highs | Gen Z is Losing Interest in White Collar Jobs
Loser: Stocks swim in a sea of red as rate hits 2024 highs
Wall Street had a lackluster start to the second quarter as bond yields rose to 4.38%, leading traders to lower expectations for Federal Reserve interest rate cuts in June. Despite a previous uptrend, investors are now looking to take profits. Bitcoin dropped 6% ($5,000) to $65,150 within 24 hours, while oil prices hit a five-month high of $88 a barrel. Tesla's stock fell 5% due to a 20% shortfall in deliveries from the previous quarter, with buyer interest declining to 31% in February 2024 from a peak of 70% in November 2021.
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Elon Musk's The Boring Company and SpaceX have reported workplace injuries, with 36 injuries in The Boring Company and over 600 injuries at SpaceX. Comedian Jon Stewart revealed that Apple asked him not to interview FTC Chair Lina Khan. Additionally, Amazon is working to eliminate its signature brown boxes due to the massive environmental impact of cardboard usage in the U.S.
Winner: Gen Z is losing interest in while collar Jobs
More young people are choosing vocational programs over traditional college due to rising costs and debt concerns. Enrollment in vocational colleges has surged by 16%, particularly in construction programs, which have seen a 12% increase since 2021. These programs offer promising pay and stability, with construction workers now earning a median salary of $48,089. In contrast, starting salaries for professions like accounting and IT are around $39,520. Gen Z views blue-collar jobs as safer amid AI advancements that threaten some white-collar roles.
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