Morning Business Report: Remote work is cutting into productivity
American productivity is low and getting lower. The Bureau of Labor Statistics says that work from home is an economic headwind and workers are losing productivity. Meanwhile, in the return to the office, men are going back in far higher numbers than women.
Investors are preparing to close out the best first half for the NASDAQ in 40 years, as they ride a wave of optimism around artificial intelligence. The NASDAQ was up again Tuesday. In fact, all of the major indexes were higher.
Bus travel is picking up steam for the Fourth of July. Data released by Greyhound and FlixBus shows that bus bookings for the are up 63% compared to last year. The majority of Greyhound FlixBus passengers plan to travel an average of 274 total miles for the Fourth of July weekend. The busiest days for Fourth of July bus travel will be June 30 and July 1. The most popular destinations for Greyhound and FlixBus travelers this Fourth of July are: New York City, Boston, Washington, D.C., Los Angeles, and Seattle.
Pepsi has a new condiment. It’s a cola infused ketchup set to debut at some major league baseball stadiums on July 4th. As the Fourth of July weekend rolls in, Bud Light is offering a rebate of up to $15 on purchases of a 15-pack of Budweiser, Bud Light, Budweiser Select or Budweiser Select 55. At some stores, it’s almost free.
A key measurement of consumer confidence just jumped to its highest level since January 2022. The latest survey from the Business Research and Membership Organization Conference Board shows that consumers have a far sunnier outlook about the present than what could come in the months ahead. Greater confidence was most evident among consumers under the age of 35 and in consumers earning incomes over $35,000.
