Restaurant reservations may get tougher without American Express

The Street

TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and how American Express is taking over restaurant reservations.

Transcript

00:00I'm Conway Gittins reporting from the New York Stock Exchange.

00:02Here's what we're watching on the street today.

00:05Stocks coming off a solid quarter as Wall Street kicks off the second half of the trading

00:09year.

00:10Investors are gearing up for a shortened trading week with the July 4th holiday on Thursday

00:14with the all-important June jobs report on Friday.

00:18This report will give investors a clearer picture of the state of the labor market.

00:23In other news, if you're having trouble making a reservation for your Saturday night out,

00:28it might be because you don't have an American Express card.

00:32Amex announced it is buying Talk, a booking app that's host to roughly 7,000 restaurants,

00:37bars and other bookable venues.

00:39American Express already owned rival app Resy before its new $400 million Talk deal.

00:45The move now gives customers even more access to hard-to-find reservations, but that special

00:50access can come with a hefty price tag.

00:53For example, the American Express Platinum card has an annual fee of $695, while the

00:59Delta SkyMiles Reserve card costs $650 a year.

01:04Of the acquisition, American Express' president of U.S. Consumer Service said,

01:08"...now we can connect even more premium customers with the most exciting restaurants, while

01:13providing merchants and restaurants more technology to help their businesses thrive."

01:19In addition to Talk, American Express also announced it is acquiring Roam, a technology

01:23company that powers mobile payments, ordering and integrations with point-of-sale, marketing

01:28and loyalty systems.

01:31That'll do it for your daily briefing from the New York Stock Exchange.

01:33I'm Conway Gittins with The Street.

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