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Wall Street Breakfast

Catalyst Watch: Jobs report, AAPL, MRK, SBUX preview

Wall Street Breakfast

Seeking Alpha

Business, Investing, News, Business News

4.11K Ratings

🗓️ 29 July 2023

⏱️ 8 minutes

🧾️ Download transcript

Summary

Transcript

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0:00.0

Welcome to See King 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. This is our weekly show all about the catalysts for the upcoming week.

0:15.6

I'm joined by Kim Kahn, he's the senior managing news editor at Seeking Alpha.

0:20.4

He's also the host of our new afternoon show, Wall Street Lunch.

0:24.0

Kim, next week, it's the beginning of the month, so obviously we're talking about

0:29.0

non-farm prey rolls, right?

0:31.0

Yeah, you think they'd give us maybe a little break after this past week when we had all these earnings and the Fed and GDP, but nope, we're just going to go right back into the swing of things, looking at the labor labor market which still is one of the most

0:43.8

important puzzle pieces to where rates are heading and probably in turn where the

0:49.1

market is heading. Okay so tell me this Is there a consensus out yet?

0:53.5

If you're looking at Non-Fau-Pau-Pau-S consensus, it's tough to come by actually, and this is new to me because

1:01.6

I've been doing this.

1:03.2

We've always had consensus estimates, a number of places online that you could find them and just say like, you know, up to 10 or more days in advance of the number.

1:11.1

Now it's like we're not getting a consensus figures out until like two or three days sometimes before the number comes out and it changes a lot. So what you're seeing is a lot more uncertainty and not more reluctance with the economist to nail down their figure without getting more data.

1:26.0

I mean totally understandable that they might want to hold off on their guesses until they saw what exactly the Fed said and what exactly GDP came in at and also all the other components to go into their models.

1:37.7

But let's just say, you know, they're going to cover again around an average of about 200,000.

1:43.2

So a little more is going to be showing a strong labor market a little less,

1:46.5

might be a little more anemic,

1:48.0

and then we're going to have to go through the dance of what's good

1:50.6

and what's bad for the Fed.

1:52.0

Because make no mistake mistake after this last

1:54.7

rate hike we saw this week the Fed's still ever present in the market and people are

1:59.6

just gonna be gauging about whether or not they want to hike again.

...

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