TheStreet’s Conway Gittens brings the latest business headlines from the floor of the New York Stock Exchange as markets open for trading Tuesday, June 4.
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Full Video Transcript Below:
CONWAY GITTENS: I’m Conway Gittens reporting from the New York Stock Exchange. Here’s what we’re watching on TheStreet today.
Stocks are coming off a rough session on Wall Street after weak manufacturing data weighed on sentiment. Investors are increasingly worried that the economy isn't strong enough to withstand the Federal Reserve’s interest rate hike campaign.
All eyes shift to the labor market with the highly anticipated May jobs report due out Friday.
In other news - While Coca-Cola still holds the top spot when it comes to America’s biggest soda brand, there is officially a battle for the number two spot. After decades of it being just a two-brand race, Dr Pepper has emerged as a contender as is now tied with Pepsi as America’s No.2 soda.
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Coke is in no danger of losing its top spot with a commanding 19.2 percent share of the soda market, according to Beverage Digest. Pepsi and Dr Pepper both own an 8.3 percent share,. Sprite and Diet Coke rounded out the top five - both brands fall under the Coca-Cola umbrella.
Founded in 1885 by Charles Alderton, Dr Pepper is actually older than both Coca-Cola and Pepsi. Coke and Pepsi have been one and two in the rankings since Beverage Digest began collecting data in 1995. And while Pepsi is still near the top of the $97 billion U.S. soda market, it’s been focusing on its massive food business, which includes Frito Lay, Quaker, and Sabra.
That’ll do it for your daily briefing. From the New York Stock Exchange, I’m Conway Gittens with TheStreet.
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