Working in the office could be costing you more than $50 a day
TheStreet’s J.D. Durkin brings you the biggest news of the day, including how the markets fared and why working in the office could actually be costing you money.
Transcript
00:00 I'm JD Durkin reporting from the New York Stock Exchange.
00:02 Stocks were in the red to close out today's session.
00:05 The Dow closing down 170 points, the Nasdaq down 0.6% and the S&P 500 also closed 0.6%
00:12 lower.
00:13 Markets are continuing to digest new consumer price data, which revealed that inflation
00:18 is still running hot.
00:20 Consumer prices are up 3.7% from the same time in 2022, well above the Federal Reserve's
00:25 targeted 2%.
00:27 Investors are concerned that this stubborn, deeply entrenched inflation will keep interest
00:31 rates higher for longer.
00:33 All eyes, meanwhile, on third quarter earnings season with names like Delta, Walgreens and
00:37 Domino's all reporting today.
00:39 Wall Street is looking ahead to the big bank earnings, which kick off tomorrow and typically
00:44 give investors a better sense of the U.S.'s economic health.
00:47 Meanwhile, if it seems as if going back to the office full time is taking a toll on your
00:52 wallet, well, turns out it is, according to a new survey by video conference company Owl
00:58 Labs.
00:59 Return to the office could cost you $51 a day.
01:02 And if you have a pet, that number could go as high as $71 a day.
01:06 Here's a look at how Owl Labs broke it down.
01:09 Food and drink could cost you $29, commuting another $14 and parking $8.
01:15 Pet owners could shell out an additional $20 to have their furry friends looked after.
01:20 Those who work a hybrid schedule still wind up spending more, but about 30% less than
01:25 those who go to the office full time.
01:27 However, workers don't exactly hate the thought of returning to work altogether.
01:31 Turns out they just want a little help to help offset additional costs.
01:34 94% of the 2,000 workers surveyed by Owl Labs say they're willing to come back if employers
01:40 help cover the financial difference.
01:42 That'll do it for your daily briefing.
01:44 From the floor of the New York Stock Exchange, I'm JD Durkin with The Street.
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