Thursday, 7 November 2024
by BD Banks
Conway Gittens: I’m Conway Gittens reporting from the New York Stock Exchange. Here’s what we’re watching on TheStreet today.
The Dow, the S&P 500, and the Nasdaq are all trading at record highs as investors cheer a quick resolution to the 2024 Presidential elections. Investors are snapping up shares in sectors they believe will benefit from what they expect will happen under Donald Trump’s second term: lower taxes and lighter regulations.
Related: Target slashes prices ahead of holiday shopping surge
In other business headlines, if you’re interested in buying the hottest trend this gift-giving season, you’re going to need a much bigger tree. That’s because ginormous flat-panel TVs are flying off store shelves this year. I’m talking TVs that are 97-inches diagonally or bigger.
New technology and falling component prices mean that TVs are getting larger, while their price tags are getting smaller. These huge TVs still cost a pretty penny, though. Depending on the range of bells and whistles you could be paying anywhere between $1700 to $3000. Those price tags, however, are down some 50 percent from a year ago, according to one consumer products watcher.
Consumers are responding to the price cuts and going super-duper large when choosing their new TV. For example, sales for a 98-inch TV have skyrocketed nearly 900 percent during the past 12 months, market research firm Circana told CNN.com, while sales for models between 75 and 96 inches have gone down during the same period.
These extra-extra-large TVs could be a saving grace for many retailers this holiday season. Best Buy, Target, Costco, and Walmart are already offering holiday promotions as the Christmas shopping bargains begin early.
That’ll do it for your Daily Briefing. From the New York Stock Exchange, I’m Conway Gittens with TheStreet.
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