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January 10, 2025

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What Higher Rates Could Mean for the S&P 500

The 10-Year Treasury Yield has gone up a full percentage point, from a low of 3.6% in September 2024 to a level of 4.6% this week. So what does this rapid rise in interest rates mean for your portfolio? Let’s look at the shape of the yield curve by comparing multiple maturities, review how recent moves on the yield curve relate to previous recessionary periods, and analyze the most important charts to gauge a potential impact.

Higher Rates Mean Bad News for Borrowers

The chart of the 10-Year Treasury Yield ($TNX) has effectively been in a wide trading range since mid-2023. The 10-Year has fluctuated between lows around 3.6-3.8% and highs in the 4.7-5.0% range. As we’re now seeing a 4.7% yield on the 10-Year, we could be setting up for a retest of the 2023 high around 5.0%.

Higher rates can definitely put pressure on industry groups like homebuilders, because this move in the 10-Year means new home buyers can expect much higher mortgage payments. In terms of broad market implications, the shape of the yield curve could have even more significance in the coming months.

The bottom two panels show the spread between the 10-year point on the yield curve compared to two other maturities: the 3-month and 2-year points. In recent years, we have experienced an inverted yield curve, where the short-term yields are higher than long-term yields.  But with the Fed lowering short-term rates, and long-term rates turning back higher, we once again have a normal shaped yield curve.

The Yield Curve Is No Longer Inverted — So What?

Investors love to debate whether a recession is likely, because that confirms that the economy is no longer growing as it usually does. But given the lag in economic data, investors can actually look at the shape of the yield curve to determine if conditions are present that suggest a recessionary period is coming.

Here, we’re taking the 2-year vs. 10-year points on the yield curve and plotting that spread back to 1985. I’ve placed a red vertical line where the yield curve turned back to a normal shape after being inverted, and I’ve also included orange-shaded areas which represent recessionary periods.

You may notice that over the last 40 years, every time we’ve had an inverted yield curve where the spread then turned back positive, we’ve seen a recession soon afterwards. You may also notice that the performance of the S&P 500 (bottom panel) confirms that the yield curve moving back to a normal shape usually happens just before a bear market begins.

While the long-term implications of a normal shaped yield curve are bullish, as they imply optimism about future economic growth, the reality is that the short-term environment for stocks is usually fairly unstable.

Market Trend Is What Matters Most

So what do we do given this bearish headwind for stocks going into 2025? I would argue that now, more than ever, it pays to follow the trend. As long as the medium-term and long-term trends in the S&P 500 remain constructive, then I’ll want to follow that uptrend until proven otherwise.

My Market Trend Model is designed to track the trend in the S&P 500 on three time frames: short-term (a couple days to a couple weeks), medium-term (a couple months), and long-term (over a year).  As of mid-December, the short-term model turned bearish for the S&P 500. The medium-term and long-term models remain bullish through last Friday.

I consider the medium-term trend to be the most important, as it serves as my main “risk on/risk off” measure. When the model is bullish, that tells me to look for long ideas and take on additional risk. When the model is bearish, that tells me to focus more on capital preservation than capital growth.

The short-term model turned negative five times in 2024, but the medium-term model remained bullish in all five cases. This helped me understand that those were brief pullbacks within a longer uptrend phase. If and when the medium-term model turns negative, you’ll hear me take on a much more cautious tone on my market recap show, as I’ll be looking for opportunities to take risk off the table.

RR#6,

Dave

P.S. Ready to upgrade your investment process? Check out my free behavioral investing course!

David Keller, CMT

President and Chief Strategist

Sierra Alpha Research LLC

Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

The author does not have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author and do not in any way represent the views or opinions of any other person or entity.

Boston Scientific’s Record Surge: Here’s How I Found It

The market sometimes struggles to find direction, as it digests mixed yet impactful economic data. Wednesday was one of those days. With US 10-Year Treasury yields rising and FOMC minutes highlighting inflation concerns, major indexes swung lower, then higher, before closing mixed: the Dow ($INDU) and S&P 500 ($SPX) edged up, while the Nasdaq Composite ($COMPQ) ended in the red.

Amid the back-and-forth, there are several tools you can use to find stocks that may be of interest, depending on your angle of approach. I was interested in finding stocks that bucked market indecision, specifically those that notched all-time or 52-week highs.

Using the StockCharts New Highs tool, one of the Dashboard panels, I observed that Boston Scientific Corp (BSX) occupied the top spot.

FIGURE 1. NEW HIGHS TOOL. BSX defied the market’s turbulence, reaching a record high.Image source: StockCharts.com. For educational purposes.

Though not one of the flashier stocks on Wall Street, you’ve likely heard of BSX, or you may be familiar with some of the products it manufactures. Still, it doesn’t hurt to get a snapshot of its technical and fundamental profile. Here you can use the StockCharts Symbol Summary tool for a quick analysis.

FIGURE 2. TOP SECTION OF THE SYMBOL SUMMARY PAGE FOR BSX. It may not be the “sexiest” stock, but it’s a “solid” one.Image source: StockCharts.com. For educational purposes.

The stock has a sizable market cap and liquidity, making it tradable for those interested in the stock. If you scroll down, the summary, you’ll find that despite a few quarters of earnings misses, it has a solid history of topping revenue expectations. (The summary offers much more detailed technical and fundamental data, so I encourage you to explore it thoroughly.)

A closer look at BSX reveals its innovative product portfolio, strategic acquisitions, robust financials, strong market position, and favorable analyst expectations—all pointing to a “solid” company with promising growth potential.

Let’s look at a weekly chart for a big-picture view of its historical price action.

FIGURE 3. WEEKLY CHART OF BSX. The stock has outperformed the healthcare sector (XLV) and the S&P 500 since 2022.Chart source: StockCharts.com. For educational purposes.

BSX’s solid uptrend began toward the end of 2022. It began outpacing the S&P 500 earlier that year and the Health Care sector (using the Health Care Select Sector SPDR ETF XLV) later that summer. Its relative price performance shows that it’s outperforming the sector by over 107% and the broader market by roughly 80%.

Notice that price surge in the last bar? That was due to a major acquisition (it purchased Bolt Medical) and a competitor’s, Johnson & Johnson (JNJ), product suspension benefiting BSX. As far as fundamental projections are concerned, they vary, as with most stocks. Nevertheless, for those interested in adding BSX stock to your portfolio, it’s best to decide on a favorable entry point. For that, you need to look at the daily chart.

FIGURE 4. DAILY CHART OF BSX. Note the runaway gap that will likely get filled, signaling a potential buying opportunity.Chart source: StockCharts.com. For educational purposes.

The stock has been experiencing an extended period. Note that the 50-, 100-, and 200-day Exponential Moving Averages are all in “full-sail,” indicating the strength of BSX’s years-long uptrend.

BSX’s news-driven runaway gap is likely to be filled as bullish sentiment moderates. Plus, the Money Flow Index (MFI), which considers volume and momentum, has been declining from “overbought” levels (top panel), showing a slight bearish divergence that adds to the case for a near-term pullback.

As price pulls back, the 50-, 100-, and 200-day EMAs should provide clear support levels; each EMA presenting a potential entry point for those looking to go long.

The chart also plots a Bullish Percent Index (BPI) for the healthcare sector ($BPHEAL) in the bottom panel. Why plot this when BSX is the clear outlier and outperformer? You will want to monitor breadth to assess the overall sector context regardless of BSX’s performance. For instance, if the sector is undergoing a bullish rotation, such a tide tends to lift most stocks within that sector, including BSX.

In the case above, the healthcare BPI shows that the sector has risen above “oversold” levels (the 30% line) as 42% of stocks in the sector are exhibiting P&F buy signals. BPI favors the bulls when the line exceeds 50%. So, while BSX is outperforming the sector, the proverbial tides appear to be turning in BSX’s favor.

Action Steps

If you’re looking to add BSX to your portfolio, consider the following action steps:

  • Add BSX to your ChartLists to monitor the stock, using the indicators suggested above.
  • Monitor BSX’s price action in light of any developments that may affect it, as the gap and surge in price were heavily news-driven.
  • Look to the EMAs as potential support levels and entry points.
  • Keep an eye on market breadth to assess how sector performance may (or may not) affect the stock’s performance in the near-to-intermediate term.

At the Close

StockCharts’ New Highs Tool is an invaluable resource for spotting standout stocks. In the case above, the tool highlighted BSX as a stock that defied broader market uncertainty, providing a strong starting point for deeper analysis.

While healthcare may not currently rank among the most bullish sectors, BSX has been bucking this trend, rising steadily for the last two and a half years. Its outperformance — driven by acquisitions and competitor setbacks — suggests it could continue to grow, making it a compelling candidate for investment. Additionally, if the healthcare sector eventually turns bullish, it may provide an opportunity to jump into the sector during the early stages of a bullish rotation.

Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

Nova Minerals Converts Debt Facility, Plans Work at Alaska Gold-Antimony Project

Nova Minerals (ASX:NVA,NASDAQ:NVA) announced on Wednesday (January 8) that it has reached an agreement with Nebari Gold Fund 1 to eliminate its existing convertible debt facility.

The full outstanding balance of US$5.42 million will be converted into ordinary shares, priced at AU$0.25 each.

The deal follows Nova’s sale of its non-core investment in Snow Lake Resources (NASDAQ:LITM) for AU$10.85 million.

According to Nova, Nebari’s intent is to continue in its partner role, now as a supportive shareholder, as Nova works to unlock future value at the Alaska-based Estelle gold and critical minerals project.

“This conversion is a serious vote of confidence by Nebari, which brings us a step closer to realizing our vision which is to concurrently develop Estelle into a tier one gold asset and to help secure a US domestic supply chain for the strategically important mineral antimony,” said Nova CEO Christopher Gerteisen in a release.

After the conversion, Nova will retain all the proceeds of the Snow Lake sale for the development of Estelle. The company said that after the exercise of NASDAQ warrants over the last few ays its cash position stands at AU$16 million.

‘Establishing a domestic source of the critical mineral antimony is more important than ever, and we stand ready to responsibly produce critical resources here at home and help strengthen America’s national and economic security,’ Nova said.

Gerteisen added that the company will continue to work with Nebari in the operational phase of Estelle.

The conversion is set to happen on January 13.

West Red Lake, Lion One working with Nebari

Nebari has also been involved in other transactions over the past few weeks.

Canadian company West Red Lake Gold Mines (TSXV:WRLG,OTCQB:WRLGF) announced on January 2 that it has entered into a completed credit agreement with Nebari to borrow up to US$35 million.

The companies first entered into a non-binding term sheet in October 2024.

In addition, gold producer Lion One Metals (TSXV:LIO,OTCQX:LOMLF) entered into an agreement with Nebari to amend certain terms and draw down a further US$4 million of its senior secured financing facility.

The agreement was announced on December 2, 2024, along with the company’s updated financial results.

Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Canadian Markets Steady Amid Trump Tariff Speculation and Renewed Greenland Interest

Canada’s main stock index gained on Wednesday (January 8), driven by strength in tech and mining stocks.

Investors continue to weigh the impact of potential US trade policy changes under President-elect Donald Trump, as well as his renewed interest in taking ownership of Greenland, an idea he first raised in 2019.

The S&P/TSX Composite Index (INDEXTSI:OSPTX) closed at 25,049.66, recovering from two consecutive sessions of losses following Justin Trudeau’s resignation as Canadian prime minister on Monday (January 6).

According to CNN, Trump is reportedly considering declaring a national economic emergency so that he can impose widespread tariffs under the International Emergency Economic Powers Act (IEEPA).

The tech sector led gains in Canada, rising 1.8 percent after sharp losses earlier in the week. Mining stocks also supported the index, with the materials group adding 1.7 percent as gold and copper prices strengthened. The sector’s performance was bolstered by expectations that a weaker US dollar could make commodities more attractive globally.

On the other hand, some Canadian exporters and manufacturers remain cautious about the possible tariffs. Concerns have been raised about how universal tariffs might affect industries reliant on cross-border trade with the US.

Market watchers anticipate Trump turmoil

In the US, major indexes continued to rally, led by gains in large-cap tech stocks.

The S&P 500 (INDEXSP:.INX) and Nasdaq Composite (INDEXNASDAQ:.IXIC) both advanced on Wednesday, reflecting investor optimism despite speculation around Trump’s tariff plans.

The US dollar’s weakness, reversing its recent surge, was another key factor driving gains in equities.

Trump’s actions are drawing comparisons to his first term, when abrupt policy announcements frequently impacted global markets. In 2019, the president-elect invoked IEEPA to threaten tariffs on Mexican imports; however, the move was later withdrawn following a bilateral agreement on immigration measures.

Commodities prices broadly saw gains as the US dollar weakened. For its part, the Canadian dollar remained relatively steady, benefiting from higher commodities prices, but tempered by broader market caution.

Oil prices, however, remained under pressure, with concerns about global demand overshadowing temporary gains in other asset classes. Energy stocks in Canada showed mixed performances.

Trump’s renewed interest in Greenland

As mentioned, markets are also fluctuating in part due to Trump’s renewed interest in Greenland.

In addition to his comments, Donald Trump Jr.’s visit to Greenland this week, described as a personal trip, has drawn attention to the island’s strategic location and resources, including rare earths.

While both Greenland and Denmark have dismissed the possibility of a sale, US interest in Greenland continues to make headlines, particularly regarding its importance for defense and natural resource availability.

Greenland is an autonomous territory of Denmark, and the country’s foreign minister has said Greenland has the right to pursue independence if its residents choose; even so, he rejected the idea that it could become a US state.

The implications of these events were felt as far away as Australia, where shares of ASX-listed Energy Transition Minerals (ASX:ETM,OTC Pink:GDLNF) soared by 36 percent. The company, which owns the Kvanefjeld rare earths project in Southern Greenland, has positioned itself as a player in the global green energy transition.

Trump’s comments have added new momentum to discussions about Greenland’s resource potential, even as the territory remains firm on its stance that it is ‘not for sale.’

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Stock Futures Lower after S&P 500 futures ticked down 0.18%

Stock futures are trading slightly lower Monday morning as investors gear up for the final month of 2024. S&P 500 futures slipped 0.18%, alongside declines in Dow Jones Industrial Average futures and Nasdaq 100 futures, which dropped 0.13% and 0.17%, respectively. The market’s focus is shifting to upcoming economic data, particularly reports on manufacturing and construction spending, ahead of this week’s key labor data releases.

November was a standout month for equities, with the S&P 500 futures rallying to reflect the index’s best monthly performance of the year. Both the S&P 500 and Dow Jones Industrial Average achieved all-time highs during Friday’s shortened trading session, with the Dow briefly surpassing 45,000. Small-cap stocks also saw robust gains, with the Russell 2000 index surging over 10% in November, buoyed by optimism around potential tax cuts.

As trading kicks off in December, investors are keeping a close eye on geopolitical developments in Europe, where France’s CAC 40 index dropped 0.77% amid political concerns, while Germany’s DAX and the U.K.’s FTSE 100 showed smaller declines.

S&P 500 futures will likely continue to act as a key barometer for market sentiment, particularly as traders assess the impact of upcoming economic data and global market developments.

S&P 500 Index Chart Analysis

This 15-minute chart of the S&P 500 Index shows a recent trend where the index attempted to break above the resistance level near 6,044.17 but retraced slightly to close at 6,032.39, reflecting a minor decline of 0.03% in the session. The candlestick pattern indicates some indecisiveness after a steady upward momentum seen earlier in the day.

On the RSI (Relative Strength Index) indicator, the value sits at 62.07, having declined from the overbought zone above 70 earlier. This suggests that the bullish momentum might be cooling off, and traders could anticipate a short-term consolidation or slight pullback. However, with RSI above 50, the overall trend remains positive, favoring buyers.

The index’s recent low of 5,944.36 marks a key support level, while the high at 6,044.17 could act as resistance. If the price sustains above the 6,020 level and RSI stabilizes without breaking below 50, the index could attempt another rally. Conversely, a drop below 6,020 could indicate a bearish shift.

In conclusion, the index displays potential for continued gains, but traders should watch RSI levels and price action near the support and resistance zones for confirmation.

The post Stock Futures Lower after S&P 500 futures ticked down 0.18% appeared first on FinanceBrokerage.

S&P 500 climbed 0.3%, and Nasdaq-100 futures jumped 0.7%

Stock futures climbed on Wednesday, driven by strong performances from Salesforce and Marvell Technology, following upbeat quarterly earnings. Futures tied to the Dow Jones Industrial Average rose by 215 points (0.5%), while S&P 500 futures gained 0.3%, and Nasdaq-100 futures advanced by 0.7%.

Salesforce surged 12% after reporting fiscal third-quarter revenue that exceeded expectations, showcasing robust demand in the enterprise software sector. Meanwhile, chipmaker Marvell jumped 14% after surpassing earnings estimates and providing optimistic fourth-quarter guidance, indicating resilience in the semiconductor industry.

This movement follows a mixed session on Wall Street, where the S&P 500 and Nasdaq closed with small gains, while the Dow dipped slightly. The broader market has experienced a modest start to December, contrasting with November’s robust rally, but analysts anticipate a resurgence in momentum. LPL Financial’s George Smith pointed out that December historically sees strong market performance, particularly in the latter half of the month.

However, economic data introduced some caution. ADP’s report revealed that private payrolls grew by just 146,000 in November, missing estimates of 163,000. This signals potential softness in the labor market, with investors now awaiting Friday’s November jobs report for further clarity.

S&P 500 Index Chart Analysis

Based on the provided stock chart, which appears to be a 15-minute candlestick chart for the S&P 500 Index, here’s a brief analysis:

The chart shows a clear upward trend, with higher highs and higher lows indicating bullish momentum over the analyzed period. The index has steadily climbed from a low of approximately 5,855 to a recent high of 6,053.58, suggesting strong buying interest.

Key resistance is observed near 6,050-6,053 levels, as the price has struggled to break above this zone in the most recent sessions. If the index breaches this level with strong volume, it could lead to further upward movement. Conversely, failure to break out may lead to a pullback, with potential support around the 6,000 psychological level and 5,980, where consolidation occurred previously.

The candlestick patterns show relatively small wicks, indicating limited volatility, which could imply steady market confidence. However, the bullish rally could be overextended, warranting caution for traders, especially if any negative catalysts emerge.

In summary, the short-term trend is bullish, but traders should monitor resistance levels and volume for signs of a breakout or reversal. It’s also essential to watch broader market factors, as indices are often influenced by macroeconomic data and sentiment.

The post S&P 500 climbed 0.3%, and Nasdaq-100 futures jumped 0.7% appeared first on FinanceBrokerage.

Tariff threat looms over the year’s biggest electronics show

Tech companies big and small are offering bold visions of artificial intelligence-infused products that could be headed into our everyday lives soon. Unless tariffs trip them up.

That’s the message from the head of the Consumer Technology Association, which is holding its annual electronics show in Las Vegas less than two weeks before Donald Trump returns to the White House on a campaign promise to dramatically raise tariffs — also known as import duties or levies — on goods coming into the U.S. from abroad.

The president-elect has promised surcharges of at least 60% on products coming in from China, a 25% tariff on Mexican and Canadian imports, and blanket tariffs of 10% to 20% on goods from virtually every other country.

“The most beautiful word in the entire dictionary of words is the word ‘tariff,’” Trump said on the campaign trail, pledging to bring companies’ operations back to the U.S. from abroad and spur domestic manufacturing.

Economists, however, say the most likely outcome of higher tariffs would be price increases for consumers as companies that manufacture or source parts internationally pass along higher costs to buyers. Federal Reserve officials are also weighing concerns that Trump’s trade policies could fuel inflation.

One of the tech companies exhibiting at CES is Yarbo, which makes a lawn-care robot that offers to map a yard and snow blow it autonomously. It’s also modular, meaning it can transform into an autonomous lawn mower to trim grass in the spring and summer.

The New York-based company manufactures the product in China. Co-founder Kenneth Kohlmann said Trump’s tariff agenda is a big question mark for Yarbo.

“We have plans for that if that does happen. It’s anyone’s guess what tariffs will be applied to what,” Kohlmann said, adding that the company could shift its supply chain to blunt the impact of any Trump action.

A robot dog by Tombot at the Consumer Electronics Show in Las Vegas on Sunday.Patrick T. Fallon / AFP – Getty Images

But many small businesses, including those that weathered the duties Trump imposed during his first term in office — most of which President Joe Biden preserved — say their ability to adjust to further tariffs is limited or nonexistent. In the weeks after the election, some operators shook up their plans for 2025, placing rush orders or looking for cost cuts.

And while some analysts have voiced skepticism that Trump will execute all the trade policies he’s proposed, the CTA, which represents consumer-facing tech companies, is already warning that customers would pay the price for higher tariffs.

“It’s like being concerned about the weather: Everyone talks about it but nobody can do anything about it,” said CTA CEO Gary Shapiro. Still, he predicted, “If you have the type of tariffs that President Trump was talking about, we will have a Great Depression.”

In a statement, Trump transition spokeswoman Karoline Leavitt said the president-elect will work to ‘fix and restore an economy that puts American workers first by re-shoring American jobs, lowering inflation, raising real wages, lowering taxes, cutting regulations, and unshackling American energy.’

The CTA issued an analysis in October estimating that Trump’s tariff proposals would drive up average prices for laptops by $357, smartphones by $213 and televisions by $48.

“If countries see that we’re putting tariffs on the products, they’re going to reciprocate,” Shapiro said, nodding to the cycle of retributive levies Washington and Beijing lobbed at each other during Trump’s first term. “They’re going to go retaliatory against us, and that’s something which is really harmful to not only Americans but to innovation.”

Businesses in a range of industries were forced to adapt to those tariffs. In some categories, like electric vehicles, the Biden administration even moved to hike tariffs further to address concerns about Chinese green tech edging out U.S. competitors.

While the CTA has slammed Trump’s tariff plan, it welcomes lighter regulation under the incoming administration.

“Investment should go up in smaller businesses, which is great for the economy under President Trump,” Shapiro said.

The group also backs a change in leadership at the Federal Trade Commission, helmed by Biden appointee Lina Khan. Under Khan, the FTC attempted to crack down on large mergers but failed to convince the courts to stop large transactions, including the Microsoft-Activision Blizzard deal. Trump announced he would replace her with Andrew Ferguson, a Republican who is an FTC commissioner.

There is reason to believe Trump may not wind up implementing every tariff proposal he has put forward.

Properly used, tariffs ‘are a very powerful tool, not only economically, but also for getting other things outside of economics,” the president-elect told NBC News’ Kristen Welker last month. He has indicated he sees duties as a negotiating tool to secure other countries’ help in restricting immigration or policing fentanyl trafficking.

For now, that has left some tech companies guessing about how to prepare.

“I don’t really think they’ll be applied to a product like this,” Kohlmann said of his Yarbo snowblowers. “But they might be.”

This post appeared first on NBC NEWS

Dockworkers union, port companies reach tentative 6-year deal

Tens of thousands of dockworkers reached a tentative agreement Wednesday on a new, six-year contract with the U.S. Maritime Alliance, which represents 14 major ports from Boston to Miami and along the Gulf Coast from Mobile, Alabama, to Houston.

Both sides say the tentative agreement will avoid a looming strike at midnight Jan. 15. “We are pleased to announce that ILA and USMX have reached a tentative agreement on a new six-year ILA-USMX Master Contract, subject to ratification, thus averting any work stoppage,’ the parties announced in a news release.

“This agreement protects current ILA jobs and establishes a framework for implementing technologies that will create more jobs while modernizing East and Gulf coasts ports — making them safer and more efficient, and creating the capacity they need to keep our supply chains strong.’

The primary sticking point in talks between the International Longshoremen’s Association and the Maritime Alliance was automation. ILA President Harold Daggett repeatedly promised dockworkers there would be no automation or semi-automated terminals. ‘I’m going to save everybody’s job when it comes to the ILA. … I’ll shut them down throughout the world.’

The Maritime Alliance has said it was not seeking to implement automation to replace workers.

“What we need is continued modernization that is essential to improve worker safety, increase efficiency in a way that protects and grows jobs, keeps supply chains strong, and increases capacity that will financially benefit American businesses and workers alike,’ it said in November.

The tentative agreement caps months of back-and-forth between the workers and the ports. In September, at least 14 ports across the East Coast shut down for days, stranding billions of dollars in goods. A strike could have exposed the U.S. economy to as much as $4.5 billion of impact per week, according to an estimate last year from J.P. Morgan.

The union says details of the agreement will not be released until rank-and-file workers are able to review it.

This post appeared first on NBC NEWS