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Wall Street Breakfast

Catalyst Watch: Is consumer sentiment just another data point in the mix?

Wall Street Breakfast

Seeking Alpha

Business News, News, Business, Investing

4.11K Ratings

🗓️ 4 November 2023

⏱️ 9 minutes

🧾️ Download transcript

Summary

Catalyst watch for the week of November 5. Seeking Alpha Senior Executive Editor Kim Khan on a quiet week ahead on the macro-front and why consumer sentiment is just like any other poll. (00:21) Julie gives a brief earnings preview of Disney (DIS). (03:10) They also discuss Disney acquiring Comcast’s (CMCSA) stake in Hulu and the Six Flags (SIX), Cedar Fair (FUN) merger. (04:57)

Episode transcripts seekingalpha.com/wsb.
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Show links:
Hulu's valuation still up in the air as Disney to buy Comcast stake
Six Flags, Cedar Fair ride higher amid upgrades at Citi, B Riley on merger hopes
Uber, Lyft seen having strong Q3 results, though with lower multiples - UBS

Transcript

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0:00.0

Thanks for

0:03.0

joining us today. I'm Julie Morgan host of Wall Street Breakfast,

0:05.0

Seeking Alpha's Daily flagship podcast.

0:08.0

This is our weekly show all about the catalyst for the upcoming week.

0:12.0

I'm joined by Kim Khan.

0:14.0

He's the senior executive editor at Seeking Alpha

0:17.6

and the host of our new afternoon show,

0:20.3

Wall Street Lunch.

0:21.5

Kim, so next week, it's kind of a slow week, but I mean there is

0:25.9

consumer sentiment. Well it is definitely a slow week and I think the market deserves

0:30.8

a breather after all it's had with earnings on top of a Fed's decision,

0:35.1

on top of Treasury funding, on top of payroll's report. It's nice to take a break and kind of reassess.

0:40.9

That said, yeah, there is the Michigan consumer sentiment numbers coming out on Friday.

0:46.9

And there's a lot of debate about how much these numbers mean to the market now,

0:51.0

because everybody seems to know how to gain the system.

0:54.6

These are basically just questions of people asking how are things in your day-to-day life,

0:58.6

how you see the economy, how do you view your expectations for inflation, a whole lots of things that people can decide to

1:06.4

answer truthfully or not. And if you think about now, the main people answering these things

1:11.3

have all grown up on online surveys.

1:13.7

So I mean, if anybody's taking a buzzfeed quiz and they wanted to be Luke Skywalker instead of

1:18.0

Han Solo, they'll know what to say online.

1:20.4

And the same thing kind of applies for these things in a more political kind of agenda where people say, okay, I don't like the current administration.

...

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