Renewed shutdown concerns
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 4 October 2023
⏱️ 7 minutes
🧾️ Download transcript
Summary
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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 | Good morning. Today is Wednesday, October 4th, and I'm your host Julie Morgan. |
| 0:12.0 | Kevin McCarthy is out, but that fact has renewed shutdown concerns in Q4. |
| 0:17.4 | Intel announces plans to separate PSG as a standalone business, and Amazon allegedly used an algorithm to boost prices. |
| 0:27.2 | The ouster of Kevin McCarthy as House Speaker, a result of escalating infighting within |
| 0:32.2 | the Republican majority, has renewed concerns. of on Tuesday voted to oust McCarthy a speaker just three days after a bipartisan stopgap spending bill was passed to avert a government shutdown. |
| 0:49.3 | Representative Patrick McHenry has taken over as acting speaker and the House will hold |
| 0:54.3 | Speaker elections on October 11th, exactly one week from today. The House will not |
| 0:59.5 | conduct votes on pending fiscal year 2024 spending bills until a new speaker is chosen, |
| 1:05.4 | although House committees can continue to conduct business. |
| 1:09.2 | This marks the first time in history that the house has removed its leader. |
| 1:13.6 | Goldman Sachs says the ouster raises the risk of a government shut down next month. |
| 1:18.5 | It expects McCarthy's successor to face even more pressure to avoid a temporary spending package or additional |
| 1:25.3 | funding for Ukraine. If you want more on the implications of a shutdown in Q4 |
| 1:30.1 | be sure to check out the Wall Street breakfast newsletter is our daily one-page news summary. |
| 1:36.0 | Intel announced that it intends to separate its programmable solutions group or PSG into a standalone operation. |
| 1:43.8 | This would be effective January 1st and is an effort to continue |
| 1:47.9 | to simplify its larger business. |
| 1:50.1 | The PSG Group, which is responsible for Intel's push into high performance communications and |
| 1:55.7 | data center applications, will be led by Sandra Rivera. |
| 1:59.6 | Intel CEO said in a statement that their intention is to establish PSG as a standalone business and pursue an IPO. |
| 2:08.0 | Intel's PSG group generated record revenues for a third consecutive quarter and has launched 11 of the 15 new products it said it would for 2023. |
... |
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