FDA officially bane Red No. 3 dye

The Street

TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and the FDA bans a cancer-causing food additive.

Transcript

00:00I'm Conway Gittins reporting from New York City. Here's what we're watching on the street today

00:04The Nasdaq snapped a five-day losing streak amid a stock market surge Wednesday

00:10Confirmation that some of inflation is easing again was cheered across Wall Street

00:16Financials also boosted confidence JP Morgan Chase Goldman Sachs

00:20Wells Fargo Citigroup and BlackRock all posted solid fourth quarter earnings

00:25Investors will get more bank results from Bank of America and Morgan Stanley on Thursday

00:31December retail sales data are also due

00:34In other business headlines some of your favorite foods and drinks may look different starting January 2027

00:40that's because the US Food and Drug Administration is

00:44banning the use of red dye number three because of

00:48Cancer risk the additive is derived from

00:51Petroleum and is responsible for giving foods drinks and pharmaceuticals that bright red cherry color

00:57It's mainly used to color candies cakes cupcakes cookies frozen desserts

01:03frostings icings and

01:05certain drugs

01:07Announced in President Biden's final days in office. The ban comes after several groups fought for it

01:13Scientists discovered links between the dye and cancer and rats more than three decades ago

01:18According to the FDA press release announcing the ban the law quote

01:23prohibits FDA authorization of a food additive or color additive if it has been found to induce cancer in humans or

01:31animals the FDA banned red dye number three from cosmetics back in

01:361990 this updated FDA regulation includes all food and drug imports as well the EU

01:43Australia New Zealand and the state of California

01:47Already banned its use

01:49That'll do it for your daily briefing from New York City. I'm Conway Gittins with the street

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