The Street
The Street
  • 4 months ago
TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and Walmart’s new venture into automation.

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Sports
Transcript
00:00I'm Conway Gittins reporting from the New York Stock Exchange. Here's what we're watching on the street today.
00:04The Nasdaq and S&P 500 again ended the trading day with record highs.
00:10As investors grow more confident, interest rates will be on the chopping block later this year.
00:15Before wrapping up two days of testimony, Federal Reserve Chairman Jerome Powell told lawmakers lower rates
00:20may be needed to protect the labor market from softening too much.
00:25The focus now turns to Thursday's release of the June Consumer Price Index,
00:29as well as quarterly scorecards from Delta and PepsiCo.
00:34Turning now to other business headlines, Walmart is going more high-tech in an attempt to boost its grocery business.
00:40The nation's largest grocer is adding roughly 5.5 million square feet to its automated distribution network
00:47in order to keep fresh produce, frozen foods and chilled items flowing to customers.
00:53Walmart says it will open five new automated distribution centers across the country,
00:57and four existing distribution centers will be expanded to make room for machines and robots.
01:03Walmart is modernizing its supply chain to, quote,
01:06enable greater speed and capacity that allows us to serve customers even more reliably.
01:13Walmart has seen a bump in sales as budget-conscious consumers look for cheaper grocery items
01:18and as home delivery and in-store pickup become more popular.
01:21Walmart's e-commerce business jumped 22 percent in the first quarter.
01:26That'll do it for your daily briefing from the New York Stock Exchange. I'm Conway Gittens with The Street.

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