April CPI Report Due
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 10 May 2023
⏱️ 10 minutes
🧾️ Download transcript
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Transcript
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| 0:00.0 | Welcome to Seeking Alpha's Wall Street breakfast, where we cover the top news for investors every morning. |
| 0:07.0 | Good morning. Today is Wednesday, May 10th, and I'm your host Julie Morgan. |
| 0:12.0 | April's CPI will be released today. |
| 0:14.6 | The report is expected to show little, if any, progress in slowing inflation. |
| 0:20.0 | Today is stock of the week Wednesday. |
| 0:22.1 | Julian Lynn is the investing group leader of Best of Breed Growth stocks on |
| 0:26.6 | seeking Alpha, and he's sharing his thoughts on Roblox. |
| 0:30.5 | You know, growth has not really come enough to justify the current valuation. |
| 0:34.1 | Roblox reports earnings today. Paramount is laying off workers. |
| 0:39.2 | The media company is cutting 25% of its workforce. |
| 0:44.3 | Our top story. |
| 0:45.8 | April's Consumer Price Index that will be released today |
| 0:49.0 | will give economists and policy makers fresh data |
| 0:52.0 | on whether the Federal Reserve is succeeding in |
| 0:54.5 | bringing down the rate of inflation toward its 2% goal. With core CPI |
| 0:59.2 | rising 5.6% year over year in March, inflation has ebbed from its peak of 9.1% last summer, but remains well |
| 1:07.5 | above the Fed's 2% goal. |
| 1:10.0 | And the April number is expected to show little, if any, progress. |
| 1:14.1 | Economists expect the headline-CPI number to rise 0.4% in April, up from the 0.1% increase in March. On a over year basis that comes to a 5% rate unchanged from the March rate. |
| 1:28.5 | Core CPI, which excludes the volatile food and energy sectors, is also expected to increase 0.4% unchanged |
| 1:36.8 | from the March month over month increase. It expects to rise 5.5% year over |
| 1:42.3 | year versus the March print of 5.5% year over year versus the March print of 5.6%. Michael Kramer is the |
... |
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