• 14 hours ago
TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and why the Dow is on the verge of a record it doesn’t want.

Category

🥇
Sports
Transcript
00:00I'm Conway Gins reporting from the New York Stock Exchange.
00:02Here's what we're watching on the street today.
00:04Investors have consumer and factory data
00:07to digest this Tuesday.
00:08Retail sales jumped 0.7% in November.
00:11The stronger-than-expected reading
00:13hints at consumer strength heading into the key holiday
00:16shopping season.
00:18Meanwhile, industrial production dropped
00:20for a third straight month, led by falling
00:23output at mines and utilities.
00:26Tuesday's data adds to a murky outlook
00:29for the Federal Reserve, putting
00:30the Dow on track for its longest losing streak
00:34since the 1970s.
00:36The Dow has been down every day since December 4th,
00:40when it closed above 45,000 for the first time ever.
00:44That's nine days in a row.
00:46Investors are certain the Federal Reserve
00:48will deliver its final interest rate cut of 2024
00:51at a meeting this week.
00:53Market participants, however, are less certain
00:56on how many rate cuts to expect in 2025.
01:00On one hand, the jobs market is softening,
01:02and the Fed wants to avoid the kind of massive layoffs
01:06that lend to a recession.
01:08That suggests more rate cuts.
01:10But on the other hand, the American consumer
01:13is looking healthy, as indicated by those retail sales numbers.
01:17And inflation is heating up again.
01:20That suggests the Fed needs to cool off on the rate cuts
01:23to prevent the economy from overheating.
01:26It's not just uncertainty about the Fed and interest rates
01:29that has the Dow in a historic slump.
01:32NVIDIA, the darling of the AI revolution,
01:35is in a slump of its own.
01:36That AI chip stock is now in correction territory,
01:40meaning it has fallen at least 10% from its recent highs.
01:44The timing couldn't be worse, since it just
01:47became a Dow stock in November.
01:49Dow historic slump aside, the stock market
01:51is on track for another banner year.
01:53Year to date, the Dow is up 15%, the S&P 500 is up 27%,
01:58and the NASDAQ is up 34%.
02:02That'll do it for your daily briefing.
02:03From the New York Stock Exchange,
02:05I'm Conway Gittins with The Street.

Recommended

0:26
I
Up next
Get 'loud' about your budget
The Street
0:30
What Trump's tariff plan does and doesn't mean for the economy
The Street
0:36
Why a 2025 recession is unlikely
The Street
0:33
UK Pubs Ration Guinness Amid Shortages As Surging Demand Outpaces Supply Ahead Of Christmas
Benzinga
1:53
More affluent Americans are living paycheck to paycheck
The Street
1:58
GameStop, AMC make a roaring comeback
The Street
2:05
Fraud among older Americans is skyrocketing
The Street
2:03
World’s richest get richer after Trump election win
The Street
1:39
Walgreens to lower prices on thousands of products
The Street
2:26
TD Bank hit with record fine
The Street
1:39
Walmart stock hits all-time high
The Street
2:02
Boeing workers vote to accept new deal
The Street
1:55
Streaming prices continue to rise
The Street
2:06
FTX sues Binance for $1.8 billion
The Street
2:03
Americans are ditching dollar stores
The Street
2:11
That impact Biden and Trump had on home prices
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
1:51
McDonald’s to invest $1.3 billion in Europe over the next four years
The Street
2:11
Advertisers will spend far less on X in 2025
The Street
1:38
Foot Locker surges as sneaker heads prepare to pay full price
The Street
2:00
Port strike over as workers agree to new deal
The Street
1:54
Comcast to spinoff cable TV business
The Street
1:54
Ultra big televisions are getting cheaper
The Street
1:56
McDonald’s unveils plans for new value menu
The Street