TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and Amazon and Hyundai’s new partnership.
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00:00I'm Conway Gaines reporting from the New York Stock Exchange.
00:02Here's what we're watching on the street today.
00:05Investors were not willing to make any big bets ahead of inflation data due this week.
00:10AutoZone missed quarterly sales and profit forecasts as inflation continues to bite.
00:15On Wednesday, Wall Street will get a look at the Consumer Price Index for November.
00:20Turning to other business headlines, Amazon is adding cars to the things you can buy on
00:25its website.
00:27It's a limited service for now, just new cars sold by Hyundai.
00:30The service, called Amazon Autos, effectively takes the haggle out of the car buying process.
00:36Fan Jin, global head of Amazon Autos, said in an online post, quote,
00:40We're bringing the simplicity and ease customers expect from Amazon to car shopping, one of
00:46their largest purchases, while offering dealers a new channel to connect with a broad audience.
00:52Users in 48 cities can browse Hyundai's dealer inventory for make, model, trim, color and
00:58whatever bells and whistles desired.
01:00Financing and a price quote for trade-ins are right there on the Amazon app too.
01:06All the final numbers, including taxes and fees, are right up front.
01:10There's nothing left to do but sign all the paperwork using eSignature and then schedule
01:14your pickup with the dealer.
01:16While Amazon is known for free shipping, it's not shipping cars.
01:21While Amazon isn't actually selling the car, it's offering its technology and platform
01:26for the dealer to sell the car.
01:29Car buyers can already purchase an automobile online via Carvana, Tesla and CarGurus.
01:36That'll do it for your daily briefing from the New York Stock Exchange.
01:38I'm Conway Gittens with The Street.