• 2 months ago
TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and how Aldi is preparing to do battle with Walmart.

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00:00I'm Conway Gittins reporting from the New York Stock Exchange. Here's what we're watching
00:03on the street today. Earnings season is providing a positive vibe on Wall Street. Morgan Stanley
00:09is the latest big bank to report better than expected results. Revenues from investment
00:13banking blew past competitors with a 56 percent jump in the third quarter.
00:20In other news, there's a Thanksgiving budget battle in the making. Aldi is pulling out
00:24all the stops this year in order to undercut Walmart's pricing to feed your family for
00:30the holiday. The discount grocery store chain unveiled its quote, inflation-busting holiday
00:35meal. For $47 or $4.70 per person for a party of 10, you can shop for butterball turkey,
00:43gravy, rolls, macaroni and cheese, stuffing and all the ingredients you need for popular
00:47side dishes like cranberry sauce, mashed potatoes and a dessert. Walmart's advertised holiday
00:53meal plan covers a small turkey and all the fixings for less than $7 a person. While the
01:00comparison may not be apples to apples, it does prove that Aldi is slashing prices to
01:05draw customers away from Walmart. Aldi says its Thanksgiving meal prices are the lowest
01:12in five years. CEO Jason Hart said in a statement, quote, we know grocery prices are still top
01:18of mind for customers. We worked hard this Thanksgiving to deliver the best value and
01:23quality products so everyone can enjoy a traditional meal with family and friends without having
01:30to scale back. While retail inflation has slowed dramatically in recent months, food
01:35inflation is another matter. The price to eat at home rose 1.3 percent in September
01:41from a year ago, according to government data. That'll do it for your daily briefing from
01:46the New York Stock Exchange. I'm Conway Gittins with The Street.

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