TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and Amazon unveils a new Prime membership benefit.
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00:00I'm Conway Gittens reporting from the New York Stock Exchange. Here's what we're watching on the street today.
00:04It was a wobbly end to a wobbly week as corporate earnings came in fast and furious
00:10and some investors set positions ahead of November elections.
00:13Consumer sentiment hit a six-month high in October.
00:16Shoppers say they feel they have more spending power after a drop in interest rates.
00:20Looking ahead to next week, Wall Street will get a deep dive on the labor market
00:24and the Fed's preferred inflation gauge.
00:26Meanwhile, Five, the so-called Magnificent Seven, will report quarterly results.
00:31Alphabet, Amazon, Apple, Meta and Microsoft.
00:36In other news, Amazon Prime is offering up a new discount to members.
00:40Cheaper gas. Prime members can save around $70 a year
00:44by knocking off 10 cents a gallon every time they fill up.
00:48The perk, however, is limited to participating BP, Amoco and AMPM stations.
00:54It also requires one extra step. Prime members have to sign up for BP's loyalty app, Earnify.
01:00Amazon Prime has a litany of perks, ranging from free delivery to product discounts
01:05to media content and even Thursday night NFL football.
01:09By adding gasoline, it is taking a page from traditional retailers.
01:13Walmart, Sam's Club and Costco offer membership gas discounts.
01:18For Amazon, the additional benefit comes as it tries to build a moat around Prime
01:23as other retailers try out the subscription model.
01:26Amazon is secretive with Prime's membership numbers,
01:29but an estimate by Consumer Intelligence Research Partners
01:32puts the U.S. number at around 189 million as of the end of the third quarter.
01:38Prime membership costs $139 a year compared to Costco's $65 annual fee,
01:44$98 for Walmart Plus and $99 for Target Circle 360.
01:50That'll do it for your daily briefing from the New York Stock Exchange.
01:53I'm Conway Gittens with the Street.