Transcript:
Conway Gittens: I’m Conway Gittens reporting from the New York Stock Exchange. Here’s what we’re watching on TheStreet today.
Thursday was a day of rest for the stock market following the monster gains the previous day. Bank earnings continued to roll out. Bank of America won big with the interest rate game - topping quarterly forecasts. Meanwhile, Morgan Stanley saw a significant boost from its trading business - exceeding expectations, as well.
On Friday’s calendar, we have housing starts and industrial production.
Related: Nintendo to unveil Switch successor in 2025
In other business headlines, the wait is almost over. Nintendo finally took the wraps off its long-pined-for Switch 2 gaming device. The hybrid console will be out later this year. Though no specific date was revealed. The Switch 2 comes with a bigger screen and bigger controllers. It will also be backward compatible with older games- in most cases.
Nintendo is hoping to build on the runaway success of the original Switch, which launched in 2017 as both a handheld and console device. Since then it has gone on to become Nintendo’s second-biggest selling console. The Switch has gone on to sell 146 million units, according to gaming website IGN, which trails behind company leader - the Nintendo DS.
And what would a Nintendo announcement be without its star- Mario? The beloved character is back, so Mario lovers can rejoice. The Switch 2 promo prominently debuts the new Mario Kart 9 video game.
No word yet on how much the device will cost. Nintendo says it will release more details in April. It’s planning a series of “global hands on events” to come.
That’ll do it for your Daily Briefing. From the New York Stock Exchange, I’m Conway Gittens with TheStreet.
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