Morning Brief Hosts Seana Smith and Brad Smith break down the three things you need to know for Tuesday's trading day.

Around 45,000 port workers across the East and Gulf Coasts are on strike after failing to reach an agreement on a new labor contract. The International Longshoremen's Association said a final proposal by the US Maritime Alliance "fell short." This is the first East and Gulf Coast port strike in nearly 50 years.

The S&P 500 (^GSPC) and Dow Jones Industrial Average (^DJI) closed at record highs on Monday, finishing out the month of September and the third quarter in the green. It was the first positive September for the S&P 500 since 2019, defying what's historically a weak month for stocks.

Wall Street is awaiting the latest read on the economy, with JOLTS (Job Openings and Labor Turnover Survey) and PMI (Purchasing Managers’ Index) expected to be released this morning. Traders are looking for clues about the Federal Reserve's next steps, and will be hearing from a number of Fed officials today, including Fed Governor Lisa Cook and Fed Presidents Barr, Bostic, and Collins.

For more expert insight and the latest market action, click here to watch this full episode of Morning Brief.

This post was written by Melanie Riehl