TheStreet’s J.D. Durkin brings you the biggest news of the day, including what the market is watching and why dining out is getting more expensive.
Category
🥇
SportsTranscript
00:00 I'm JD Durkin reporting from the floor of the New York Stock Exchange and here's a look
00:03 at what we are watching on the street today.
00:06 Stocks are coming off a brutal session to say the least Tuesday with the Dow suffering
00:09 its worst trading session since March of 2023.
00:13 It came as investors reacted to hotter than expected inflation data with consumer prices
00:18 rising faster than expected last month.
00:20 This report stoked some more fears that the Fed could keep interest rates higher for longer.
00:26 Separately, traders are also reacting to a batch of corporate earnings reports.
00:30 Both Lyft and Airbnb posted a beat on fourth quarter earnings.
00:34 So far, over half of the companies reporting have beat Wall Street estimates.
00:38 In other news, Americans are finding it increasingly more expensive to dine out as opposed to cooking
00:43 at home.
00:44 According to the January Consumer Price Index, which measures what consumers pay for goods
00:48 and services, restaurant prices are up 5.1 percent year over year, while the cost of
00:53 groceries rose just 1.2 percent.
00:55 It's a stark contrast from January of last year when restaurant food prices were up 8.2
01:00 percent and groceries increased 11.3 percent.
01:04 Fresh vegetables might be the biggest reason your dinner bill is on the rise as that category
01:09 saw a 2.4 percent price increase last month.
01:12 Tomatoes saw the biggest spike costing 4.6 percent more in January than they did the
01:18 month before.
01:19 But there is good news in all this if you enjoy a nice ham or a can of tuna.
01:23 Ham and self-stable fish and seafood saw the biggest price drops last month, down 3.1 percent
01:29 and 2.9 percent respectively.
01:31 However, across all goods followed by the CPI, eggs have seen the biggest price drop
01:36 on an annual basis, down nearly 29 percent, followed by lettuce at number two and apples
01:42 taking third place.
01:45 That'll do it for your daily briefing.
01:46 I'm J.D. Durkin with The Street.
01:48 Thanks for watching.
01:49 [no audio]