3.8 • 950 Ratings
🗓️ 21 April 2025
⏱️ 4 minutes
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0:00.0 | Welcome to Seeking Alpha's Wall Street Lunch, our afternoon update on today's market action, news, and analysis. |
0:10.1 | Good afternoon. Today is Monday, April 21st, and I'm your host, Kim Kong. Our top story so far. |
0:15.6 | The greenback continues to take a pounding. The U.S. dollar sell-off continues with the dollar index, trading close to |
0:21.0 | 98. The lowest level touched on Monday was 97-99, the lowest price since February 2022. |
0:27.4 | Concerns about central bank independence, as President Donald Trump considers ways to replace |
0:31.3 | Fed Chairman J. Powell have hit the dollar and pushed longer treasury yields up. |
0:35.5 | Trump's main issue with Powell is that he believes the Fed chief should be cutting the Fed funds |
0:39.0 | right now, but the market seems to be sending a signal that it will sell U.S. debt if the Fed |
0:43.6 | becomes an arm of the White House. |
0:45.5 | Tom Graff, Chief Investment Officer at Facet, says there's two policy issues that you get |
0:50.1 | near universal agreement on among economists, free trade and central bank independence. |
0:55.2 | I think it's within a president's rights to criticize the Fed, but trying to control Powell won't |
0:59.4 | achieve any of the benefits Trump expects. The euro is rallying about 1.5% to $1.15, its strongest |
1:06.0 | level since November 2021. So far in April, the greenback has lost about 6% with its steepest declines |
1:12.7 | against the Euro, yen, and Swiss franc. Among active stocks, Jeffries reiterated a buy rating on |
1:18.6 | lows after meeting with management last week. Analysts highlighted that while tariffs provide |
1:23.1 | near-term uncertainty, the firm believes initiatives executed over the past several quarters, |
1:28.0 | and those currently in the market today position loads to drive healthy margin expansion and EPS growth |
1:32.8 | when a DIY home improvement recovery comes closer into view. A second Boeing 737 Maxjet, |
1:39.4 | originally designated for delivery to a Chinese airline, was en route back to the United |
1:43.4 | States on Monday, |
1:44.5 | Reuters reported, citing flight tracking data. The aircraft touched down in Guam after |
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