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Contract expires for West Coast dockworkers, negotiations continue

Yahoo Finance Live's Dave Briggs reports that negotiations between West Coast ports and dockworkers continue after their contract expired today.

Video Transcript

DAVE BRIGGS: All right, here's an update on another labor story we've been watching for you. The contract negotiations for 22,000 dockworkers on the West Coast, there is still no deal, but both sides agreeing to extend talks and keep the ports running as normal. In a statement, both sides saying, quote, "They understand the strategic importance of the ports to the local, regional, and US economies, and are mindful of the need to finalize a new coastwide contract as soon as possible to ensure continuing confidence in the West Coast."