Hollywood actors and studios have tentative labor agreement.The S&P 500 just posted its longest winning streak in two years. The broad market index added a modest 0.1% on Wednesday, but it's now been positive for eight days in a row. The last time that happened was in November 2021. The Nasdaq Composite was up a meager 0.08% for the session, but at nine positive days, it's also seeing its longest streak in two years.
The actors' union and studios finally have a preliminary labor agreement in place that would bring the industry back to life. Actors — represented by the Screen Actors Guild-American Federation of Television and Radio Artists — walked off the jobago in mid-July, demanding better wages, working conditions, and health and pension benefits. They also wanted to establish stricter protections for the use of artificial intelligence in future television and film productions.
Disclosure: Comcast is the parent company of NBCUniversal and CNBC. NBCUniversal is a member of the Alliance of Motion Picture and Television Producers, which was negotiating with SAG-AFTRA.Arm CEO Rene Haas and executives cheer, as Softbank's Arm, chip design firm, holds an initial public offering at Nasdaq Market site in New York, U.S., September 14, 2023.report since its IPO.