The Magnificent Seven Aren’t This Market’s Only Winners

WSJ What’s News

The Wall Street Journal

News, Daily News

4.1 • 4.2K Ratings

🗓️ 8 October 2024

⏱️ 13 minutes

🔗️ Recording | iTunes | RSS

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Summary

P.M. Edition for Oct. 8. WSJ markets reporter Hardika Singh discusses whether the third quarter earnings reports can show there’s more to the S&P 500 than just the Magnificent Seven. And WSJ’s Jared Hopkins explains what’s next for Pfizer after an activist investor revealed a $1 billion stake. Plus, the U.S. deficit tops $1.8 trillion in 2024. Tracie Hunte hosts. Sign up for the WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Robert Halfe research indicates 9 out of 10 hiring managers are having difficulty hiring.
0:06.0	Robert Half is here to help.
0:08.0	Our recruiting professionals utilize our proprietary AI to connect businesses with highly skilled talent.
0:14.7	At Robert Haff, we know talent.
0:17.1	Visit Robert Haff.com today.
0:19.6	The U.S. budget deficit has topped 1.8 trillion dollars this year.
0:28.0	And will the coming earnings season confirm that the Magnificent Seven aren't all that matters to the S&P 500? If earnings growth is increasing, then that this market
0:35.0	is increasing, then that means that this market broadening
0:40.0	that we've seen over the past few months can be backed up by fundamentals as well, which means good
0:46.9	profits, good guidance, good revenue.
0:49.8	Plus, can Pfizer appease its activist investor?
0:53.7	It's Tuesday, October 8th.
0:55.3	I'm Tracy Hunt for the Wall Street Journal.
0:57.7	This is a PM edition of What's News,
1:00.0	the top headlines and business stories
1:01.8	that move the world today.
1:06.8	The U.S. budget deficit topped $1.8 trillion in the latest fiscal year, driven by higher spending on interest and programs for older Americans
1:16.1	as the government faces a persistent gap between federal outlays and tax collections.
1:21.5	The new data come as Republican presidential nominee
1:24.0	Donald Trump and Democratic Pick Kamala Harris are both proposing new tax and
1:28.8	spending plans that are estimated to add trillions more to the deficit over the next decade.
1:34.0	The deficit in 2023 was 1.7 trillion, which looks smaller than it actually was.
	...

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