The Street
The Street
  • 6 months ago
TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and why your next supermarket trip might be a little cheaper.

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Sports
Transcript
00:00 I'm Conway Gittens reporting from the New York Stock Exchange.
00:02 Here's what we're watching on the street today.
00:04 Stocks are coming off a record session,
00:07 with all three major averages notching all-time highs
00:10 Wednesday.
00:11 Investor optimism was fueled by fresh data
00:14 showing the first slowdown in consumer prices in six months.
00:18 Markets are now reacting to weekly jobless claims.
00:21 222,000 people filed for unemployment benefits last week,
00:25 down from the eight-month high of 231,000 the prior week.
00:30 In other news, Americans can finally
00:33 breathe a small sigh of relief at the supermarket.
00:36 According to new data released by the Bureau of Labor
00:38 Statistics, grocery prices dipped 0.2% from March
00:42 to April.
00:43 Despite only being a marginal decrease, that's welcome news,
00:47 considering groceries have outpaced overall inflation
00:50 since the beginning of the pandemic.
00:52 Grocery prices are still higher than they were a year ago,
00:55 but several individual food items
00:57 have seen a sizable drop over the past 12 months.
01:00 The price of apples plunged almost 13%,
01:04 eggs decreased by 9%, and cheese fell more than 3%.
01:08 On the flip side, consumers are paying more for hot dogs,
01:10 ground beef, and steaks.
01:13 While cooking at home may have gotten a wee bit cheaper
01:15 last month, it's still more costly to eat out.
01:18 Prices at restaurants increased by 0.3% month over month.
01:22 Since the start of 2024, prices at sit-down restaurants
01:26 are up 3.4%, while prices at restaurants
01:29 where you order at the counter are up almost 5%.
01:33 McDonald's, which has said it is struggling to draw in lower
01:36 income customers, announced it will offer a $5 value
01:39 menu that will run for a month beginning June 25.
01:43 That'll do it for your daily briefing from the New York
01:45 Stock Exchange.
01:46 I'm Conway Gittins with The Street.
01:48 [BLANK_AUDIO]

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