TikTok appeals for breakup lifeline
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 9 December 2024
⏱️ 6 minutes
🧾️ Download transcript
Summary
Show Notes
Stocks with best odds of risk-adjusted returns deserve attention
AMD falls as BofA downgrades amid AI, PC concerns
Episode transcripts: seekingalpha.com/wsb
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Transcript
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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. |
| 0:10.3 | Good afternoon. Today is Monday, December 9th, and I'm your host, Kim Khan. Our top story so far. |
| 0:16.0 | TikTok and parent bike dance asked an appeals court to put a temporary block on a law that would force |
| 0:21.0 | the sale of the video sharing app while it seeks a U.S. Supreme Court review. The companies filed |
| 0:26.3 | an emergency motion with the U.S. Court of Appeals for the District of Columbia, saying that |
| 0:30.5 | the app would be shut down for its 170 million monthly domestic users. A federal court on |
| 0:35.9 | Thursday upheld the impending ban, rejecting Bight |
| 0:38.9 | Dance's argument that the ban is unconstitutional. The companies had sued the U.S. to overturn |
| 0:44.0 | the law, the Protecting Americans from Foreign Adversary Controlled Applications Act, which was |
| 0:48.9 | signed by President Joe Biden in April. It requires TikTok's divestment from Bight dance or a ban in app stores in the U.S. |
| 0:55.8 | by January 19th. Assuming the ban survives to January 19th, it's still unclear what happens in the |
| 1:01.5 | upcoming second Trump administration. Trump pushed to ban the app during his first term as president, |
| 1:06.8 | but warmed up to it during the 2024 campaign, and he is expected to try and stop the ban from |
| 1:11.7 | taking effect after he assumes office on January 20th. In today's training, selling picked up in |
| 1:17.8 | stocks with growth seeing the most pressure. The NASDAQ down nearly 1%, trails the S&P 500 and the Dow. |
| 1:24.4 | Rates are slightly higher across the Treasury yield curve. BlackRock says they are staying |
| 1:28.6 | pro-risk into 2025 and increasing their overweight on U.S. stocks, anticipating AI beneficiaries |
| 1:34.6 | to broaden out beyond tech. We're also confident U.S. equities can keep outpacing global peers, |
| 1:40.7 | given the ability to better capitalize on mega forces, a favorable growth outlook, potential tax |
| 1:46.0 | cuts, and regulatory easing. U.S. outperformance is unlikely to extend the government bonds, they added. |
| 1:52.0 | We go tactically underweight long-term treasuries, as we expect investors to demand more |
| 1:56.2 | compensation for the risk of holding them, given persistent budget deficits, sticky inflation, and greater |
... |
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