Wall Street Breakfast April 19: Housing Market Hits an Inflection Point (Podcast)

Wall Street Breakfast

Seeking Alpha

Business, Investing, Business News, News

3.8 • 950 Ratings

🗓️ 19 April 2022

⏱️ 6 minutes

🔗️ Recording | iTunes | RSS

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Summary

Investors will get more data on the U.S. housing market today. Signs are emerging that Q1 earnings season will be more disappointing than expected. Recent statistics released by both New Jersey and Pennsylvania point to strong growth in sportsbook activity.

Transcript

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0:00.0	Welcome to Seeking Alpha's Wall Street breakfast, your daily source of market news and analysis.
0:06.5	Subscribe to this podcast on Apple Podcast, Spotify or Stitcher.
0:10.8	Good morning. Today is Tuesday, April 19th, and I'm your host Julie Morgan.
0:15.6	Today's Top Stories, Earning Season, Sports Book Growth, and The Housing Market.
0:20.6	Analysts Show Earning Season for Q1 may not be what you thought it would be, but which direction is it going?
0:26.0	It's not football season, but what's up with sports book growth?
0:30.0	In which two states is this coming from?
0:32.0	And the housing market, is it cooling off or just
0:34.9	heating up let's talk about it news no one wants to hear there are signs that
0:39.5	Q1 will be more disappointing than expected.
0:42.6	Morgan Stanley says this is especially the case in regards to forward estimates and guidance.
0:48.3	Chief Equity Strategist Mike Wilson said,
0:50.6	earnings revisions breadth for the S&P 500 has resumed its down trend over the past two weeks
0:56.1	and is once again approaching negative territory, which would mean more downward than upward
1:01.5	out-year EPS revisions. But what's causing this?
1:05.3	Cyclical industries like consumer, industrial, and tech hardware. He went on to say that
1:10.5	with cost pressures, payback risk in consumer demand and the Russia-Ukraine
1:15.2	war, a downward move in revision should play out again into the first quarter reporting
1:20.8	season.
1:21.8	And of course he talked about inflation. The positive effects
1:24.6	of inflation on earnings have hit their peak and will now be a headwind to growth. From
1:30.2	Blah to not so Blah, Looking at recent statistics out of New Jersey and
	...

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