Morning Business Report: Teamsters Union keeps up pressure despite offer from UPS

Negotiations between UPS and the Teamsters Union continue. UPS has around 340,000 unionized employees, represented by the Teamsters, under what is the largest private sector collective bargaining agreement in North America. The union is threatening a strike if a deal is not reached before the current contract expires at the end of July. While UPS has offered the Teamsters a pay package, the union says it’s not enough and insists that a deal must be reached by July 5 in order for all members to vote on it. 

Between food, fireworks, and beverages, Fourth of July celebrations may be expensive this year. Researchers at the National Retail Federation have predicted that 87% of Americans will celebrate Independence Day, spending $93.34 per person on various food items. According to the National Beer Wholesalers, the Fourth of July is the top holiday for at-home beer consumption. Americans also celebrate the Fourth with an impressive amount of hotdogs. The National Hot Dog & Sausage council estimates that Americans eat approximately 150 million hot dogs on the Fourth of July each year.

The S&P 500 rose on Friday and closed out big in the first half.
The NASDAQ surged 31%, for its best first half since 1983.
Apple closed Friday at a market value of 3 trillion dollars, a first for any U.S. company.

A generic version of the top selling arthritis drug, Humira is coming this month. Soon, Humira will see a handful of rival drugs. Depending on your insurance coverage, you could save some money on medication.

Instacart weighs in on what Americans like more for the 4th of July, hot dogs or hamburgers. Overall, people in 30 states and Washington D.C. purchase more hot dog buns than hamburger buns. Instacart also shared that sales for mayo, ketchup, mustard, and relish jumped 79% last year, in the week leading up to the Fourth of July.