TheStreet’s Conway Gittens brings the latest business headlines from the floor of the New York Stock Exchange as markets close for trading Wednesday, May 15.
Related: Uber is launching a new way to get to the airport
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 saw a nice rally with both the S&P 500 and Nasdaq closing at record highs on Wednesday. This comes after cooler inflation data – consumer prices rose 3.4 percent in the month of April from a year ago, down from 3.5 percent in March and in line with analyst estimates. This report was welcomed news for investors as they eye interest rate cuts in the near future.
In other news - Uber is trying to make it easier for customers to get to the airport, stadiums, and other live events. At the company’s 2024 Go-Get event, it revealed Uber Shuttle.
Uber said it will partner with local shuttle companies that will pick riders up and bring them to where they need to go.
The shuttles will have anywhere between 14 and 55 seats, and users can reserve up to five seats as early as a week before they need to travel. The user will then receive a QR code, allowing them to track their shuttle within 25 minutes of their scheduled pick-up.
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And while Uber didn’t reveal a pricing structure, it said it would be a “fraction of the price” of a normal Uber ride - and it won’t be impacted by surge pricing.
Uber Shuttle will launch at Miami’s Hard Rock stadium before expanding later this summer.
The company also announced Uber caregiver. The new feature will allow caregivers to add family members to their profiles. This will allow them to book rides or order supplies and groceries for their loved ones. The feature will also allow for three-way chat between drivers, riders, and caregivers.
Uber is looking to drum-up business after softer demand led to a surprise quarterly loss when it reported results a week ago.
That’ll do it for your daily briefing. From the New York Stock Exchange, I’m Conway Gittens with TheStreet.
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