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Wall Street Breakfast

Catalyst Watch: Retail sales, Hollywood strike

Wall Street Breakfast

Seeking Alpha

Business News, Investing, Business, News

4.11K Ratings

🗓️ 15 July 2023

⏱️ 7 minutes

🧾️ Download 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 editor at Seeking Alpha.

0:20.2

And the host of our new afternoon show Wall Street Lunch.

0:24.0

Kim, next week we're starting off with the retail sales, right?

0:27.0

We also have a lot of housing data as well, but I think the focus will be on the retail sales

0:32.0

because it has such a reflection on the consumer and I think it's going to be a different week for economic indicators because after this really cool

0:40.3

CPI number that we had.

0:42.8

Everybody is kind of convinced the Fed's gonna be one and done.

0:46.7

So I think people are gonna wanna see some strength.

0:50.0

They gonna wanna see some resilience from the consumer.

0:52.7

So if retail sales come in higher than expected,

0:56.6

you won't get the usual need-your reaction of,

0:58.8

oh my gosh, the Fed's going to suddenly hike

1:01.3

another 25 basis points. You're gonna see people say, okay, good, we've got this, we've got a soft landing still on track. So we'll see about that. It's a little early to get consensus estimates, but I think that basically

1:16.2

the consumer has shown the resilience and will still be able to find pockets of strength in different categories although we did see a lot of things fall in the

1:26.5

C. P. I such as airline fares and food prices and shelter costs so maybe there's more money in the pocket.

1:33.3

Now let's talk about earnings. So we look at next week more than 300 companies a lot are due to

1:39.0

report earnings next week. This includes more banks like Bank of American P and C.

1:44.0

Lockheed Martin is also reporting Netflix, IBM, Tesla, Taiwan, semi.

1:48.6

I mean, the list goes on and on.

1:50.6

Yeah, it's 300 companies and it's one of the lighter weeks if you look for the two weeks ahead it's going to be

...

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