TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and how Dr. Pepper surpassed Pepsi in the soda market.
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00:00 I'm Conway Gittins 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 rough session on Wall Street after weak manufacturing data weighed
00:08 on sentiment.
00:10 Investors are increasingly worried that the economy is not strong enough to withstand
00:14 the Federal Reserve's interest rate hike campaign.
00:18 All eyes shift to the labor market with the highly anticipated May jobs report due out
00:22 Friday.
00:24 In other news, while Coca-Cola still holds the top spot when it comes to America's biggest
00:28 soda brand, there is officially a battle for the number two spot.
00:33 After decades of it being just a two-brand race, Dr. Pepper has emerged as a contender
00:38 and is now tied with Pepsi as America's number two soda.
00:43 Coke is in no danger of losing its top spot with a commanding 19.2 percent share of the
00:49 soda market, according to Beverage Digest.
00:52 Pepsi and Dr. Pepper both own an 8.3 percent share.
00:56 Sprite and Diet Coke rounded out the top five.
00:59 Both of those brands fall under the Coca-Cola umbrella.
01:02 Founded in 1885 by Charles Alderton, Dr. Pepper is actually older than both Coca-Cola and
01:08 Pepsi.
01:09 Coke and Pepsi have been one and two in the rankings since Beverage Digest began collecting
01:14 data and while Pepsi is still near the top of the $97 billion U.S. soda market, it's
01:19 been focusing on its massive food business, which includes Frito-Lay, Quaker and Sabra.
01:24 And that'll do it for your daily briefing from the New York Stock Exchange.
01:27 I'm Conway Gittins with the Street.
01:29 Thanks.
01:30 Thanks.
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