• 8 hours ago
TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and why your grocery bill is going up again.

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Transcript
00:00I'm Conway Gittins reporting from the New York Stock Exchange.
00:02Here's what we're watching on the street today.
00:04It's Fed Week, and investors are playing it safe.
00:07While word on the street is the Federal Reserve will lower
00:10interest rates by a quarter percentage point,
00:12investors are not sure how many cuts to expect in 2025.
00:16The Nasdaq closed at a record high on Monday.
00:19Bitcoin touched a fresh record high as well.
00:22On Wednesday, Wall Street will get
00:24a read on industrial production and an important update
00:28on retail sales.
00:30And speaking of retail, if you're
00:32feeling woozy at the supermarket checkout line,
00:35the return of higher food prices might be the culprit.
00:38According to the government's November Consumer Price Index,
00:41the cost of eating at home rose half a percent
00:44on a month-to-month basis and 1.6%
00:47from the same time a year ago.
00:50So which aisles are grocery shoppers experiencing
00:52the biggest sticker shock?
00:54Egg prices surged 37.5% from the same time last year.
00:59So-called other condiments, like mayonnaise,
01:02which is made mostly of eggs, up 16.1%.
01:06Frozen non-carbonated juices and drinks like orange juice
01:09cost 17.2% more.
01:12Dried beans and peas up 7.4%.
01:16Beef and pork chops up 5%.
01:18Instant coffee up 4.6%.
01:21Food inflation is back for a number of reasons.
01:24Bird flu is hurting egg production.
01:26Drought has pushed cattle raising to a 70-year low.
01:30And the effects of climate change
01:31are showing up in every food group on the planet.
01:34The only caveat?
01:36Flour, breads, and baked goods were the only categories
01:40where food is cheaper now than it was a year ago.
01:44That'll do it for your daily briefing from the New York
01:46Stock Exchange.
01:47I'm Conway Gittens with The Street.
01:51For more information, visit nyseagrant.com.

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