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TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and why food prices saw their first drop in more than four years.

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00:00I'm Conway Gittins reporting from the New York Stock Exchange.
00:02Here's what we're watching on the street today.
00:04Investors took a pause Tuesday from the heady buying they've been doing
00:08since Donald Trump's re-election victory.
00:10Quarterly earnings from Live Nation helped that stock buck the market's malaise.
00:14The live venue company said it, quote,
00:16wrapped up our most active summer concert season ever
00:20as part of mixed third-quarter results.
00:23The big focus Wednesday will be on inflation.
00:26The Consumer Price Index for October is due.
00:29Ahead of that, there are promising signs
00:31that food inflation may finally be starting to ease.
00:35Online grocery prices dropped 0.1% month-to-month in October
00:39and posted a 0.1% drop from a year ago.
00:43According to the Adobe Digital Price Index,
00:45that is the first year-over-year drop in the cost of food since January 2020.
00:52While that's a far cry from the 5.2% year-over-year surge
00:56seen at the peak of October 2020,
00:58consumers are still struggling to keep up with elevated food costs.
01:03Food inflation has been stubborn
01:05as prices for other items began to ease.
01:08Many Americans turned to buying groceries
01:10and other things online to make dollars stretch.
01:13Quote,
01:14consumers continue to see good bargains online
01:17and are taking advantage of them,
01:19driving $82 billion in e-commerce spend for October 2024,
01:24says Vivek Pandya, Adobe Digital Insights Lead Analyst.
01:29The relief from high food prices
01:31comes just in time for the crucial end-of-the-year gift-buying season.
01:35Retailers hope the money saved on food will be used to buy gifts.
01:40The National Retail Federation expects
01:42average holiday spending to hit a record of $902 per person.
01:48That'll do it for your daily briefing from the New York Stock Exchange.
01:51I'm Conway Gittens with The Street.
01:54Thanks for watching.

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