Ticker: Starbucks launches vax or test mandate; Record highs for S&P 500, Dow on first day of 2022

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Starbucks says its U.S. workers must be fully vaccinated by Feb. 9 or face a weekly COVID testing requirement.

The Seattle-based coffee giant said Monday it was acting in response to the Occupational Safety and Health Administration, which issued a vaccine-or-test requirement for companies with more than 100 employees in November.

The requirement, which has faced numerous court challenges, was upheld last month by a three-judge panel with the U.S. Court of Appeals. The Supreme Court is scheduled to consider the requirement on Friday.

Starbucks is requiring its 228,000 U.S. employees to disclose their vaccination status by Jan. 10.

“I recognize that partners have a wide spectrum of views on vaccinations, much like the rest of the country,” Starbucks Chief Operating Officer John Culver said in a letter sent to employees in late December. “My responsibility, and that of every leader, is to do whatever we can to help keep you safe and create the safest work environment possible.”

Record highs for S&P 500, Dow on first day of 2022

Wall Street got 2022 off to a solid start with more record highs for the S&P 500 and the Dow Jones Industrial Average.

The S&P 500 rose 0.6%, a day after closing out 2021 with big gains for the third year in a row. The Dow rose 0.7% and the Nasdaq rose 1.2%.

Apple gained 2.5%, closing just below a market capitalization of $3 trillion. Technology companies and banks were among the biggest winners. Electric car maker Tesla rose sharply after reporting strong delivery numbers for 2021. The yield on the 10-year Treasury note rose to 1.64%

The big event on the economic calendar this week is the Labor Department’s jobs report on Friday.