Transcript:
CONWAY GITTENS: I’m Conway Gittens reporting from the New York Stock Exchange. Here’s what we’re watching on TheStreet today.
The S&P 500 and the Nasdaq were back in the green as Nvidia rallied for the first time in four sessions. Meanwhile, big home price gains in San Diego, New York, Chicago, Los Angeles, and Cleveland catapulted home prices to a new record high, according to the S&P CoreLogic Case-Shiller Index.
Investors now look ahead to Micron’s quarterly results, as well as Chipotle, which will start trading on a 50-for-1 stock-split basis on Wednesday.
In other news: Amazon Prime Day is coming. The online retailer’s attempt to lure shoppers to its site during the slower summer months is set for July 16th and 17th.
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Inflation-wary shoppers are expected to flock to the site, where they can find markdowns of up to 73% on some items. Amazon says millions of products will see price cuts, including brand-name items from Clinique, Kiehl’s, KitchenAid, and even Coach handbags.
There’s also going to be pre-Prime Day sales leading up to the main event. But there is a caveat, of course. While all these sales are open to all shoppers, the best bargains are reserved for Amazon Prime members, who pay a monthly fee of 15 bucks.
Expectations are riding high after a record-setting Prime event last year. Amazon sold 100,000 items every minute during the two-day sale, raking in over $2.5 billion in sales.
That’ll do it for your daily briefing. From the New York Stock Exchange, I’m Conway Gittens with TheStreet.
