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NEW YORK — U.S. stocks were largely stuck in place Wednesday as Wall Street continues to recalibrate following its sharp recent swings.
The S&P 500 edged up by 4.40 points, or 0.1%, to 4,382.78 for a third straight day of quiet, mixed trading. The index saw its best week of the year last week, after months of losses.
Wednesday’s slight gain was enough to extend the index’s winning streak to eight days. That ties its longest such winning streak since a nine-day run 19 years ago.
The Dow Jones Industrial Average slipped 40.33 points, or 0.1%, to 34,112.27, and the Nasdaq composite rose 10.56, or 0.1%, to 13,650.41.
Eli Lilly rose 3.2% after U.S. regulators said its popular diabetes treatment, Mounjaro, can be sold as a weight-loss drug.
American Airlines, Delta Air Lines and United Airlines rose more than 2% as oil prices continued to drop and ease the pressure on fuel costs.
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Warner Brothers Discovery tumbled 19% after reporting a worse loss for the latest quarter than analysts expected. It also lost more streaming subscribers than forecast.
In the bond market, the 10-year Treasury yield fell to 4.51% from 4.57% late Tuesday.
A swift rise in the 10-year yield that began in the summer earlier knocked the S&P 500 down by more than 10% from its peak for the year. The 10-year yield briefly topped 5% to reach its highest level since 2007, after the Federal Reserve raised its main interest rate above 5.25% — its highest level since 2001 — in hopes of slowing the economy to bring inflation back down to its 2% goal.
Last week, Fed Chair Jerome Powell said jumps in Treasury yields could substitute for further rate hikes if they remain persistent. That triggered a sharp easing in Treasury yields, which helped stocks to rally.
The price for a barrel of U.S. crude oil is back to where it was in July, and it dropped another $2.04 to settle at $75.33. Brent crude, the international standard, fell $2.07 to $79.54.
Stock indexes fell 0.2% in Shanghai and 0.6% in Hong Kong, joining modest losses across much of Asia. Stocks were higher in Europe.
Elsewhere on Wall Street, Axon Enterprise rose 6.1% after the maker of Tasers, body cameras and other equipment reported stronger profit for the latest quarter than analysts forecast.
Ralph Lauren rose 3.2% after reporting stronger profit for the latest quarter than analysts forecast.
eBay sank 2% after its forecast for revenue for the last three months of 2023 fell short of analysts’ expectations.
Rivian Automotive swung to a loss of 2.4% after the electric vehicle company raised its forecast for how many vehicles it will produce this year and reported weaker profit than expected for the latest quarter.
Jobs Requiring the Least Communication With Others
Methodology
The data used in this analysis is from the U.S. Bureau of Labor Statistics. Specific datasets include the Occupational Requirements Survey (2022) and Employment Projections Survey (2022). For each occupation, the percentage of jobs requiring occasional communication or less was calculated as the sum of jobs requiring: 1) no communication, 2) seldom communication, or 3) occasional communication. Occupations were ordered by the percentage of jobs requiring occasional communication or less; and in the event of a tie, the occupation with the highest percentage of jobs requiring no communication was ranked higher.
Only occupations with adequate data from all surveys were included in the analysis. Additionally, occupations requiring less than a high school degree were filtered out.
For complete results, see Jobs Requiring the Least Communication With Others on Construction Coverage.
References
- McKinsey & Company. (2022, June 23). Americans are embracing flexible work—and they want more of it. https://www.mckinsey.com/industries/real-estate/our-insights/americans-are-embracing-flexible-work-and-they-want-more-of-it
- U.S. Bureau of Labor Statistics. (2022). Occupational Requirements Survey [Data set]. https://www.bls.gov/ors/
- U.S. Bureau of Labor Statistics. (2022). Employment Projections Survey [Data set]. https://www.bls.gov/emp/
Communication Requirements for U.S. Workers
A majority of American workers only have to communicate occasionally or less
Source: Construction Coverage analysis of BLS Occupational Requirement Survey data | Image Credit: Construction Coverage
According to recently released data from the U.S. Bureau of Labor Statistics, only about a third of U.S. workers must verbally communicate frequently or more. Across all workers, it is estimated that 1.2% must communicate constantly (at least once every few minutes) and another 33.3% must communicate frequently (at least once per hour). This includes occupations like teachers, childcare workers, physician assistants, sales representatives, and exercise trainers.
On the other hand, 53.0% of U.S. workers are expected to communicate occasionally (a few times per day), 7.2% are expected to communicate seldom (once per day or less), and just 5.2% are not required to communicate at all. In total, 65.4% of workers are in roles that only require occasional communication or less.
To find which jobs require the least interaction with others, researchers at Construction Coverage, a review website for the construction industry, calculated the proportion of jobs requiring no communication, seldom communication, or occasional communication within each occupation. All data is from the U.S. Bureau of Labor Statistics.
The top 10 jobs requiring only occasional communication or less represent a variety of industries, such as financial services, maintenance and repair, trucking, and construction. These jobs also have significant variations in salary—from $34,240 annually for tire repairers and changers, to $95,080 per year for financial and investment analysts. By comparison, the median annual wage for American workers in 2022 was $$46,310.
Here are the top 10 jobs involving the least interaction with others.
10. Occupational health and safety technicians
- Percentage of jobs requiring occasional communication or less: 84.5%
- Median annual wage: $57,970
- Typical education needed: High school diploma or equivalent
- Total employment: 24,700
Occupational health and safety technicians are responsible for gathering pertinent data concerning workplace safety, which is subsequently analyzed by occupational health and safety specialists. Additionally, these workers play a crucial role in executing and overseeing the assessment of programs aimed at mitigating hazards for workers. These roles are common in construction, mining, and petroleum industries.
9. Billing and posting clerks
- Percentage of jobs requiring occasional communication or less: 84.6%
- Median annual wage: $42,810
- Typical education needed: High school diploma or equivalent
- Total employment: 456,300
Billing and posting clerks are tasked with aggregating, calculating, and documenting billing and accounting data. They also generate invoices for services provided or products delivered.
8. Financial and investment analysts
- Percentage of jobs requiring occasional communication or less: 93.1%
- Median annual wage: $95,080
- Typical education needed: Bachelor’s degree
- Total employment: 317,200
Financial and investment analysts perform quantitative analyses of financial and investment data, such as company balance sheets, stock price growth, and business valuations.
7. Heating, air conditioning, and refrigeration mechanics and installers
- Percentage of jobs requiring occasional communication or less: 94.2%
- Median annual wage: $51,390
- Typical education needed: Postsecondary nondegree award
- Total employment: 415,800
One of the construction trades, HVAC mechanics and installers work on heating, central air conditioning, ventilation, or refrigeration systems. Depending on the job, this might include installing a new system or repairing an existing one.
6. Maintenance and repair workers, general
- Percentage of jobs requiring occasional communication or less: 98.3%
- Median annual wage: $44,980
- Typical education needed: High school diploma or equivalent
- Total employment: 1,607,200
General maintenance and repair workers are responsible for ensuring the functionality of machines, mechanical systems, and the overall structure of a building. In contrast to specialized construction occupations that focus on specific trades, maintenance and repair professionals operate across various disciplines. Their tasks encompass a range of responsibilities, such as plumbing, pipe fitting, HVAC repair, carpentry, electrical work, and welding, among others.
5. Broadcast technicians
- Percentage of jobs requiring occasional communication or less: 100.0%
- Median annual wage: $60,700
- Typical education needed: Associate’s degree
- Total employment: 39,900
Broadcast technicians are responsible for the configuration and operation of electronic equipment essential for radio and television broadcasting, including satellite, microwave, and other transmitter systems. They oversee the control and adjustment of both incoming and outgoing signals to maintain optimal levels of volume, signal strength, and clarity.
4. Tire repairers and changers
- Percentage of jobs requiring occasional communication or less: 100.0%
- Median annual wage: $34,240
- Typical education needed: High school diploma or equivalent
- Total employment: 103,800
Tire repairers and changers repair and replace tires. They are most commonly employed in the automotive parts sector; however, many also work for general merchandise retailers and merchant wholesalers.
3. Heavy and tractor-trailer truck drivers
- Percentage of jobs requiring occasional communication or less: 100.0%
- Median annual wage: $49,920
- Typical education needed: Postsecondary nondegree award
- Total employment: 2,192,300
Heavy truck drivers hold a commercial driver’s license and operate tractor-trailers or trucks with a capacity of at least 26,001 pounds. Whether they are shipping inventory for retailers, materials for construction sites, or inputs for manufacturing facilities, most drivers are employed by transportation companies.
2. Adhesive bonding machine operators and tenders
- Percentage of jobs requiring occasional communication or less: 100.0%
- Median annual wage: $38,780
- Typical education needed: High school diploma or equivalent
- Total employment: 11,400
Adhesive bonding machine operators use bonding machines and adhesives to join items for further processing or to form a completed product. One example is joining veneer sheets into plywood.
1. Computer numerically controlled tool operators
- Percentage of jobs requiring occasional communication or less: 100.0%
- Median annual wage: $46,760
- Typical education needed: High school diploma or equivalent
- Total employment: 181,800
These workers are responsible for the setup, operation, and maintenance of computer-controlled tools used for machining or processing items composed of materials like metal, plastic, wood, or stone.
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