TheStreet’s J.D. Durkin brings you the biggest news of the day, including the November jobs report and Amazon’s newest grocery venture.
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00:00 I'm JD Durkin reporting from the New York Stock Exchange and here's a look at what we
00:03 are watching on the street today.
00:05 Investors are reacting to the November jobs report.
00:08 199,000 jobs were added in the month of November, above analyst expectations of 180,000.
00:15 The unemployment rate fell to 3.7% from 3.9% in October.
00:21 According to analysts, the increase in employment could be attributed to the over 40,000 autoworkers
00:26 and actors that were on strike.
00:29 This report will be key when the Federal Reserve decides interest rates on the 13th of December.
00:34 In other news, Amazon is now testing a grocery delivery service for Prime members.
00:39 Prime members will have the option to pay $9.99 a month for unlimited grocery deliveries
00:44 from Whole Foods or Amazon Fresh on orders of more than $35.
00:49 The new program will also give members a 30-minute pickup window for any order.
00:54 Of the new initiative, Amazon's head of physical store business said, "We're always experimenting
00:59 with features to make shopping easier, faster, and more affordable, and we look forward to
01:04 hearing how members who take advantage of this offer respond."
01:08 Since acquiring Whole Foods for $13.7 billion back in 2017, Amazon has worked to grow its
01:15 grocery business.
01:16 The company launched a chain of Amazon Fresh supermarkets and has merged online and brick
01:21 and mortar grocery services.
01:23 The new pilot program is being tested in three cities, Denver, Colorado; Sacramento, California;
01:29 and Columbus, Ohio.
01:30 That will do it for your daily briefing.
01:32 From the floor of the New York Stock Exchange, I'm J.D. Durkin with The Street.
01:35 Thank you.
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