Market Braces for Powell's Return

Wall Street Breakfast

Seeking Alpha

Business, Investing, Business News, News

3.8 • 950 Ratings

🗓️ 8 March 2023

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

S&P, Nasdaq, Dow futures tick up as market braces for the return of Powell (1:00). Senators unveil bill to rein in TikTok (BDNCE), 'adversarial' tech (06:49). Warren Buffett’s Berkshire Hathaway (BRK.A) (BRK.B) buys another 5.8M Occidental (OXY) shares (08:34).

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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	Good morning. Today is Wednesday, March 8th, also known as International Women's Day.
0:12.8	I'm your host Julie Morgan.
0:14.8	Day one of Federal Reserve Chair Jerome Powell's testimony
0:18.1	on Capitol Hill is down and day two is upon us.
0:21.3	Powell's hawkish comments on day one
0:23.8	sparks selling on Tuesday.
0:26.2	Today is stock of the week Wednesday and the topic
0:28.8	is Hymns and Hers health.
0:30.6	I would say yes.
0:31.4	I would say that it's still a buy that it's still a company to look at
0:34.4	still a company to consider because of specifically the 2025 guidance that the
0:39.1	company management team had provided us during the earnings call.
0:42.6	Austin Henkewitz with Cash Flow Freaks on Seeking Alpha is making his case for the telehealth platform.
0:50.2	And senators unveil a bill to rein in Tik-Toc and adversarial tech.
0:54.8	The bipartisan legislation is called the Restrict Act.
0:59.1	Our top story.
1:00.4	Hawkish comments from Federal Reserve Chair Jerome Powell sparked Wall Street selling on Tuesday
1:06.0	as hopes further dimmed that the Central Bank would be able to halt its interest rate hiking in the near future.
1:11.7	In his regular semi-annual testimony before Congress,
1:15.1	Powell said that inflationary pressures are running higher than expected. He added
1:19.8	that this suggests that the ultimate level of interest rates is likely to be higher than previously anticipated.
	...

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