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It’s time for Yahoo Finance’s market minute.
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Consumer confidence plunged to its lowest level in more than a decade this month.
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According to new data from the conference board, Overall consumer confidence index fell by 9.7 points in January from December’s reading.
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The latest numbers show confidence is below even the lowest readings during the COVID-19 pandemic.
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Meanwhile, aerospace and defense giant RTX plans to continue paying dividends to investors, even after President Trump threatened to stop doing business with the defense contractor.
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Company CEO made the comments on its earnings call and were first response to Trump’s recent criticisms of major defense contractors for underfunding weapons production.
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And UPS plans to cut as many as 30,000 jobs in its push to save costs.
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The company CFO says reductions to its op operational workforce will be achieved likely through attrition and voluntary separation agreements with full-time drivers.
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It’s all a part of an ongoing effort by the company to rein in costs and boost profitability.
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And that’s your Yahoo Finance market minute. For more on what’s trending on Yahoo Finance, scan the QR code below to track the best and worst performing stocks of the trading session.