Nintendo unveils the Switch 2

TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and Nintendo’s newest release.

Transcript

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

00:05Thursday was a day of rest for the stock market following the monster gains the previous day.

00:10Bank earnings continued to roll out. Bank of America won big with the interest rate game, topping quarterly forecasts.

00:16Meanwhile, Morgan Stanley saw a significant boost from its trading business,

00:21exceeding expectations as well. On Friday's calendar, we have housing starts and industrial production.

00:28In other business headlines, the wait is almost over.

00:32Nintendo finally took the wraps off of its long-pined for Switch to gaming device.

00:37The hybrid console will be out later this year, though

00:40no specific date was revealed. The Switch 2 comes with a bigger screen and bigger controllers.

00:46It will also be backward compatible with older games in most cases.

00:51Nintendo is hoping to build on the runaway success of the original Switch, which launched in

00:572017 as both a handheld and console device. Since then, it has gone on to become

01:03Nintendo's second biggest selling console. The Switch has sold

01:07146 million units according to gaming website IGN, which trails behind company leader the Nintendo DS.

01:14And what would a Nintendo announcement be without its star, Mario? The beloved character is back,

01:20so Mario lovers can rejoice. The Switch 2 promo prominently debuts the new Mario Kart 9 video game.

01:28No word yet on how much the device will cost. Nintendo says it will release more details in April.

01:33It's planning a series of, quote, global hands-on events to come.

01:39That'll do it for your daily briefing from the New York Stock Exchange. I'm Conway Gittens with The Street.