• 2 months ago
TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and why $150,000 doesn’t go as far as it used to.

Category

🥇
Sports
Transcript
00:00I'm Conway Gibbs reporting from the New York Stock Exchange. Here's what we're watching on the street
00:03today. Tech stocks are strong across the board on Monday. Investors are anticipating big tech
00:08earnings which begin Tuesday with Google Parent Alphabet. McDonald's and Chipotle are two other
00:14notables set to release results. Meanwhile, the JOLTS survey which covers layoffs, turnovers,
00:20and quit rates will be released and we get a reading on consumer confidence. Speaking of
00:26consumer moves and habits, a new report suggests a higher number of six income families are now
00:32living paycheck to paycheck. According to a report by Bank of America, someone is living
00:37paycheck to paycheck when more than 95 percent of household income is used to cover bare necessities
00:43like shelter, food, transportation, utilities, and child care. The report says that's what's
00:49happening to 20 percent of U.S. households earning more than $150,000 a year. Bank of
00:55America used anonymous income and spending data from its customers' bank accounts. Conventional
01:01thinking may believe the more money people earn, the more disposable cash they have.
01:05The data, however, does not back that up. Authors of the report say high income earners
01:11also have high income bills. Quote, higher income households may have bought larger,
01:16more expensive homes and consequently have bigger mortgages and often along with bigger homes comes
01:22bigger insurance costs, property taxes, and utility bills. While inflation takes a heavier
01:29toll on those with smaller incomes, the report shows inflation as an equal opportunity drain on
01:35wallets. The cost of living is about 20 percent higher than it was before the pandemic, no matter
01:40what the take-home pay. That'll do it for your daily briefing from the New York Stock Exchange.
01:45I'm Conway Gittins with The Street.

Recommended

2:03
I
Up next
World’s richest get richer after Trump election win
The Street
1:56
30 million Americans don’t know they’re owed money
The Street
1:40
The rich have gotten much richer
The Street
2:01
Big corporations will increase pay by almost 4% in 2025
The Street
1:53
Grocery prices finally start to come down
The Street
2:13
Dow faces 9th straight day in the red
The Street
2:05
Back-to-school shopping means big bucks
The Street
1:54
Boeing to borrow $10 billion and raise an additional $25 billion
The Street
2:03
Americans are ditching dollar stores
The Street
1:56
Britain is raising taxes on its wealthiest by a lot
The Street
1:53
Grocery prices are flattening, but menu prices are still rising
The Street
1:55
Streaming prices continue to rise
The Street
1:47
Cargill to lay off 5% of global workforce
The Street
1:54
Ultra big televisions are getting cheaper
The Street
2:02
Boeing workers vote to accept new deal
The Street
1:48
60,000 more Americans receive student debt relief
The Street
1:51
McDonald’s to invest $1.3 billion in Europe over the next four years
The Street
1:39
Walgreens to lower prices on thousands of products
The Street
1:39
Walmart stock hits all-time high
The Street
1:58
GameStop, AMC make a roaring comeback
The Street
1:50
GameStop brings in $2 billion after selling 75 million shares
The Street
1:39
Stamps set to see five price increases over the next three years
The Street
1:38
Foot Locker surges as sneaker heads prepare to pay full price
The Street
1:47
Big Lots on the verge of closing hundreds of stores
The Street
2:05
Fraud among older Americans is skyrocketing
The Street