The Street
  • 2 months ago
TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and why Coca-Cola has a reason to feel good.

Category

🥇
Sports
Transcript
00:00I'm Conway Gittins reporting from the New York Stock Exchange. Here's what we're watching
00:03on the street today. The bond market is dictating action in the stock market. Bond investors
00:09are pushing interest rates higher on fear inflation could heat up again. Meanwhile,
00:14mortgage rates are about a full percentage point lower than a year ago, but that's doing
00:18little to help real estate. Sales of previously owned homes dropped to a 14-year low in September.
00:25The median sales price jumped to $404,500. Data on new home sales are released on Thursday.
00:33Wall Street also gets third-quarter earnings from UPS, Honeywell and Southwest Airlines,
00:38among others. Sticking with quarterly results, Coca-Cola has found an innovative way to deal
00:44with consumer gripes over inflation. Convince consumers you're giving them something new
00:49and they'll pay full price. It's taking the same amount of soda, poured it into a sleek
00:55new shiny skinny can and voila, higher sales, at least in North America. Sales in the region
01:01jumped 12 percent in the third quarter as the slimmer cans contributed to, quote, favorable
01:06mix and pricing actions in the marketplace. Experts say the skinny can resonates particularly
01:12with Gen Z and millennials who see the edgier, sleeker design as a reflection of their lifestyle
01:19values. The design also has a practical purpose. Retailers are able to fit more of them on
01:29a display, which makes it easier for a thirsty consumer to grab. While the skinny can cushioned
01:35beverage sales in North America, it did not help globally. Sales worldwide were flat to
01:40lower due to weakness in China and war in the Middle East. Profits, however, came in
01:45better than expected. That'll do it for your daily briefing from the New York Stock Exchange.
01:50I'm Conway Gittins with The Street.

Recommended

2:13
I
Up next
Dow faces 9th straight day in the red
The Street
1:53
Grocery prices finally start to come down
The Street
1:58
McDonald’s to keep $5 meal deal through the end of 2024
The Street
1:56
McDonald’s unveils plans for new value menu
The Street
2:03
World’s richest get richer after Trump election win
The Street
2:11
Advertisers will spend far less on X in 2025
The Street
1:54
Ultra big televisions are getting cheaper
The Street
2:01
Big corporations will increase pay by almost 4% in 2025
The Street
1:54
Comcast to spinoff cable TV business
The Street
2:05
Fraud among older Americans is skyrocketing
The Street
1:51
McDonald’s to invest $1.3 billion in Europe over the next four years
The Street
1:53
More affluent Americans are living paycheck to paycheck
The Street
1:57
Canada orders TikTok to close its offices in the country
The Street
1:55
Eggs, coffee, and beef are all getting more expensive
The Street
1:39
Walgreens to lower prices on thousands of products
The Street
1:55
Streaming prices continue to rise
The Street
1:49
Rising temperatures are leading to rising produce prices
The Street
1:45
McDonald’s brass working on ways to lure back customers
The Street
1:53
Grocery prices are flattening, but menu prices are still rising
The Street
1:58
GameStop, AMC make a roaring comeback
The Street
1:43
McDonald’s, KFC and others are bringing back value meals
The Street
1:55
Tupperware to file for bankruptcy
The Street
1:58
Crypto hacks are on the rise
The Street
2:02
The Campbell Soup Company is getting a rebrand
The Street
2:06
FTX sues Binance for $1.8 billion
The Street