State of the Union
Wall Street Breakfast
Seeking Alpha
3.8 • 950 Ratings
🗓️ 8 February 2023
⏱️ 10 minutes
🧾️ Download transcript
Summary
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Seeking Alpha's Wall Street Breakfast brings the top news to investors every morning. Released by 8:00am ET, it's all the news you need to know for your market day.
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Show links:
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Top 10 Stocks For 2023
Transcript
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| 0:00.0 | Two more tech companies are laying off workers and for the past three years you've probably been using one of those companies services every day. |
| 0:09.0 | Welcome to Seeking Alpha's Wall Street breakfast where we cover the top news for investors every morning. |
| 0:15.9 | Good morning, today is Wednesday, February 8th, and I'm your host Julie Morgan, |
| 0:20.6 | our top stories. President Biden in his second state of the Union address |
| 0:25.2 | said that the economy is building from the bottom up. He said we're just |
| 0:29.2 | getting started as he talked about new legislation designed to support and improve U.S. |
| 0:34.7 | manufacturing and infrastructure. |
| 0:37.9 | More job cuts on the way in tech. |
| 0:39.7 | eBay says it's laying off 4% of its workforce and Zoom Video Communications is letting go 15% of its employees. |
| 0:48.5 | And today is stock of the week Wednesday. |
| 0:51.1 | Stephen Kress is the head of quantitative strategies at Seeking Alpha. Every year he releases a top 10 list of stocks and last year's list did very well. |
| 1:01.0 | The cube of stocks outperform the S&P 500 by almost 10%. It was really big outperformants and we picked some of our favorites last year. |
| 1:13.0 | and those stocks exploded to the upside last year. |
| 1:16.0 | So we had some really good picks. |
| 1:18.0 | Today we'll dive into one stock on the list. |
| 1:21.0 | We begin with the State of the Union address. |
| 1:24.0 | Speaking before a joint session of Congress, President Biden delivered his second State of the |
| 1:29.2 | Union address. He said that despite the fact that inflation weighs on Americans' minds every time they go to the gas station or grocery store, |
| 1:37.0 | the nation's economy is on the upswing. |
| 1:40.0 | And he reiterated his mantra of wanting to build an economy from the bottom up. |
| 1:44.8 | Biden acknowledged inflation as being a global problem, but stressed that it is coming down. |
| 1:50.7 | During the 9 PM speech, the president also hit on topics ranging from climate crisis to legislation |
... |
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