Over two dissenting votes, the justices acted on an emergency appeal from lawyers for Venezuelan men who have been accused of being gang members, a designation that the administration says makes them eligible for rapid removal from the United States under the Alien Enemies Act of 1798.
If a walkout does occur, NJ Transit has said the chartered buses will run from four satellite lots across the state to the Port Authority Bus Terminal in Manhattan or to PATH train stations in north Jersey, starting Monday. The PATH system is operated by a subsidiary of the Port Authority of New York and New Jersey and its services would not be affected by the potential strike.As many as 1,000 passengers are on a full train each day, and roughly 70,000 commuters take the trains each day. NJ Transit says each chartered bus could carry only about 100 passengers, and no buses would run on the first day of a potential strike.
Officials expect some train customers will switch to existing NJ Transit bus routes or use the chartered carriers. Others may choose to drive into New York City, where they would have to pay congestion pricing fees.The potential walkout comes a month after union members overwhelmingly rejected. Both sides had earlier said the tentative agreement included a “reasonable wage increase” for union members as well as the resolution of a long-standing grievance.
Kolluri has said the offer would have raised the average annual pay of full-time engineers to $172,000 from $135,000, but union leaders say those figures were inflated.Since that proposal was rejected, the two sides have traded jabs over the labor dispute, which goes back to 2019, when the engineers’ contract expired. Union leaders say train engineers have gone without a raise over the past five years and are just seeking pay parity with engineers who work for other rail agencies.
The parties met Monday with a federal mediation board in Washington to discuss the dispute, but both sides and the board have declined to comment on whether any progress was made or if more talks have been scheduled.
New Jersey Gov. Phil Murphy, a Democrat, says all options are on the table if a strike occurs, including declaring a state of emergency. The governor, though, remains optimistic an agreement can be reached.The U.S. on Thursday will release its April report for inflation at the wholesale level, which is what companies are paying for goods. Economists expect an easing of inflation there.
The latest update Thursday for retail sales is expected to reflect a sharp drop to 0.2% in April from 1.4% the previous month.Retail giant Walmart will also report its latest financial results on Thursday and its financial forecasts will be closely watched.
In the bond market, Treasury yields edged higher. The yield on the 10-year Treasury rose to 4.54% from 4.47% late Tuesday. The two-year Treasury yield, which moves more closely with expectations for Fed action, rose to 4.06% from 4.00% late Tuesday.All told, the S&P 500 rose 6.03 points to 5,892.58. The Dow fell 89.37 points to 42,051.06, and the Nasdaq gained 136.72 points to 19,146.81.