Catalyst Watch: Jobless Claims Review, Lowe’s Earnings Preview

Wall Street Breakfast

Seeking Alpha

Business News, News, Business, Investing

4.1 • 1K Ratings

🗓️ 20 May 2023

⏱️ 15 minutes

🔗️ Recording | iTunes | RSS

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Summary

Catalyst watch for the week of May 21. Seeking Alpha Managing News Editor Kim Khan says to look out for reports on personal income and spending, core PCE price index and durable goods orders next week (00:28). He also talks about the possibility of fraudulent jobless claims. (01:48) Seeking Alpha Associate News Editor Kevin Curran gives investors a preview of what to expect when Lowe’s (LOW) reports earnings. (05:24) Hot topic: Should CEO’s be able to say whatever they want and get away with it? (08:20)

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Show links:

Lowe’s Companies, Inc.
The Home Depot, Inc.
Initial jobless claims drop more than expected
Fraud makes Thursday's jobless claims numbers 'literally unbelievable'
Applied Materials, Lowe's added to Jefferies franchise picks list
Tesla meeting: Elon Musk talks rough economy, advertising and new models
Elon Musk is still bound to have Tesla tweets approved by a company attorney

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	Thanks for joining us today. I'm Julie Morgan, host of Wall Street Breakfast, Seeking Alpha's daily flagship podcast.
0:14.4	This is our weekly show all about the catalyst for the upcoming week.
0:18.4	I'm joined by Kim Kahn.
0:19.8	He's the senior managing news editor at Seeking Alpha. I'm also joined by Kevin Curran. He's an associate
0:26.1	news editor at Seeking Alpha. So Kim, I know that you're going to take the broader look right now. What do you have for us?
0:33.6	Yeah, I mean it's not a chock fill week for economic indicators but it gets pretty
0:37.9	busy right at the end of the week next Friday when you have personal income and spending numbers out that's going to give us a nice gauge again on on the health of the consumer after retail sales and then you're going to get some more inflation numbers that come with the report the Fed's favorite inflation gauge core PC. price index so that'll have the bond market.
1:01.0	I'm pretty excited about that. And finally we'll have
1:04.8	durable goods orders, another consumer measure. So I think that a lot of
1:09.7	stock investors are going to want to see some strong news out of that.
1:13.2	The stock seem now to want good news to be good news.
1:16.4	They don't want really recessionary numbers.
1:19.1	They'd rather have strong numbers because they already feel like Fed cuts are priced in later this year and it seems like also like stocks are kind of
1:27.8	coiled up for a bounce right now looking at the latest hedge fund numbers from society general it said that their net short
1:36.3	positions are at a 12 year high even though the market's been going up so some really solid numbers could give that the market a bounce.
1:44.0	Okay, so that's something we can look forward to in the upcoming week.
1:48.0	But you know, Kim, there was something that I noticed. You wrote an article this morning.
1:52.0	We're recording this on Thursday May 18th the title of the article is
1:57.5	Fraud makes Thursday's jobless claims numbers literally unbelievable. Tell me, what is that all about?
2:04.0	Okay, well, I'll start with the Jabbles Kings figures that came out today and they came out
2:08.5	with around 242K for the weekly initial joblessles claims that was a bigger fall than was anticipated.
	...

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