• 9 hours ago
TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and TikTok is headed to the Supreme Court.

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Transcript
00:00I'm Conway Gittins reporting from New York's, one more time, I'm Conway Gittins reporting
00:05from New York City.
00:06Here's what we're watching on the street today.
00:08The Federal Reserve lowered its key interest rates by a quarter of a percentage point.
00:13The target range now sits at four and a quarter percent to four and a half percent.
00:17The Fed's projection on how many rate cuts could be coming in 2025 dropped from four
00:23to two.
00:25That spooked Wall Street, prompting the first 10-day slide in the Dow since 1974 amid a
00:33big broad market selloff.
00:35Investors will next look at quarterly results from FedEx and Nike due on Thursday.
00:41Turning to other business headlines, TikTok is going all the way to the U.S. Supreme Court
00:46in an attempt to stop a forced sale or a U.S. ban.
00:50The justices have agreed to hear arguments on behalf of ByteDance, the Chinese parent
00:55of the popular social media app and its estimated 170 million American users.
01:01The Supreme Court will begin hearing oral arguments on Jan. 10.
01:04However, it did not grant TikTok's request for an injunction blocking the law from taking
01:10effect on Jan. 19.
01:13The law forces ByteDance to sell TikTok's U.S. operations to a U.S. stakeholder by the
01:18deadline or app stores will stop making the app available.
01:23TikTok claims that its First Amendment free speech rights are being violated.
01:27A federal appeals court, however, already ruled against TikTok, saying Congress is within
01:32its rights to limit and quote, "...adversaries' ability to gather data on people in the United
01:37States."
01:38Donald Trump originally called for the TikTok ban but has since changed his tune on the
01:43belief the app helped him win re-election.
01:47That'll do it for your daily briefing from New York City.
01:49I'm Conway Gittins with The Street.
01:53Thanks for watching.

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