TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and why giant screen TVs might be a hit this holiday season.
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00:00I'm Conway Gittins reporting from the New York Stock Exchange. Here's what we're watching on
00:03the street today. The Dow, the S&P 500 and the Nasdaq are all trading at record highs
00:09as investors cheer a quick resolution to the 2024 presidential elections. Investors are
00:14snagging up shares in sectors they believe will benefit from what they expect will happen under
00:19Donald Trump's second term, lower taxes and lighter regulations. In other business headlines,
00:27if you're interested in buying the hottest trend this gift-giving season, you're going to need a
00:31much bigger tree. That's because ginormous flat-paneled TVs are flying off store shelves
00:37this year. I'm talking TVs that are 97 inches diagonally or bigger. New technology and falling
00:43component prices mean that TVs are getting larger while their price tags are getting smaller. These
00:50huge TVs still cost a pretty penny though. Depending on the range of bells and whistles,
00:55you could be paying anywhere between $1,700 to $3,000. Those price tags, however, are down some
01:0250 percent from a year ago, according to one consumer products watcher. Consumers are responding
01:08to the price cuts and going super duper large when choosing their new TV. For example, sales for a
01:1398-inch TV have skyrocketed nearly 900 percent during the past 12 months, market research firm
01:20Circona told CNN.com, while sales for models between 75 and 96 inches have gone down during
01:27the same period. These extra, extra large TVs could be a saving grace for many retailers this holiday
01:34season. Best Buy, Target, Costco and Walmart are already offering holiday promotions as the
01:40Christmas shopping bargains begin early. That'll do it for your daily briefing from the New York
01:46Stock Exchange. I'm Conway Gittins with The Street.
01:50you