The Street
The Street
  • 6 months ago
TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and why popular fast food chains are bringing back value meals.

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Transcript
00:00 I'm Conway Gittins reporting from the New York Stock Exchange.
00:02 Here's what we're watching on the street today.
00:05 Investors were focused on two things Friday, inflation and earnings.
00:10 Dell Technologies dampened enthusiasm for tech stocks with hefty AI spending plans that
00:15 could hurt profits.
00:17 On the inflation front, the PCE index matched forecasts.
00:21 Wall Street awaits the closely watched jobs report due next week.
00:25 The stakes are high with policymakers looking to decide the timing of an interest rate cut
00:29 on June 12th.
00:31 In other news, if you're hungry and you're looking for a good deal, you're in luck.
00:36 Fast food companies are responding to customer complaints by bringing back value meals.
00:41 KFC is already advertising four discount deals.
00:44 The cheapest one at $4.99 includes two pieces of chicken, a biscuit and mashed potatoes.
00:49 In a press release, KFC said their goal is to prove, quote, "you don't have to sacrifice
00:54 quality or taste to save on food spending."
00:57 McDonald's also confirmed it is rolling out a $5 value meal this summer.
01:02 CEO Chris Kempcinski telling investors, quote, "it is imperative that we continue to keep
01:08 affordability at the forefront for our customers."
01:12 And its main rival even took notice.
01:14 Burger King is now reportedly rushing to get its $5 budget meal on the table before McDonald's.
01:20 Taco Bell and Wendy's already have budget menus.
01:23 While food price gains at the supermarket slowed last month, you're paying an average
01:28 of 4.1 percent more to eat out than a year ago.
01:32 And that'll do it for your daily briefing.
01:33 From the New York Stock Exchange, I'm Conway Gittens with the Street.
01:37 Thanks for watching.
01:38 [BLANK_AUDIO]

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