A term used to tell someone of a rumor, it can be of a positive or negative sentiment. As a negative sentiment the rumor is without a source or anonymous and gives the listener the false impression that a lot of people know of this rumor mainly because of the word "streets". as a positive sentiment the rumor is based on visual facts and declare a positive response.
Negative sentiment: "Ay, word on the streets is that wifey's been with your cousin Rome."
Positive sentiment: Hey dude, surfs up and its firing-off at the point; let's go get wet!