Caroline Woods brings the latest business headlines from the floor of the New York Stock Exchange as markets close for trading Tuesday, April 16.
Full Video Transcript Below:
CAROLINE WOODS: I’m Caroline Woods reporting from the New York Stock Exchange. Here’s what we’re watching on TheStreet today.
Investors are reacting to a batch of corporate earnings reports – Morgan Stanley, Bank of America and United Health all posted solid results. Of the less than 10 percent of S&P 500 companies that have released earnings, four out of every five have surpassed Wall Street estimates.
In other news, Levi’s denim is having a moment and it's all thanks to Queen Bey. After the release of Beyoncé’s hit new song 'Leviis,' the denim brand saw fans buying up denim jeans, denim jackets and western clothing. According to foot traffic data from Pass_by, visits to Levi’s physical stores rose 20 percent during the week of Easter Sunday compared to the last three years. Levi’s stock also saw a nice pop after the song was released Thursday, soaring 20 percent.
And it's not just Levi’s experiencing a boost from Queen Bey. With songs like "Texas Hold 'Em" and "16 Carriages," western boot sales have also jumped. Sales for boots increased by 24% the week that Beyoncé released the western album “Act 2: Cowboy Carter,” and another 45% the week after when the hit “Texas Hold ‘Em'' topped the charts, according to data from market research firm Circana.
Beyoncé made history as the first black woman to come in at number one for the country albums chart with her album 'Act II: Cowboy Carter,' according to Billboard.
That’ll do it for your daily briefing. From the New York Stock Exchange, I’m Caroline Woods with TheStreet.
