3.8 • 950 Ratings
🗓️ 19 August 2022
⏱️ 7 minutes
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0:00.0 | Welcome to Seeking Alpha's Wall Street breakfast, your daily source of market news and analysis. |
0:06.8 | Subscribe to this podcast on Apple Podcast, Spotify or Stitcher. |
0:11.4 | Good morning. Today is Friday, August 19th and I'm your host Julie Morgan. |
0:16.0 | Our Top Stories The Housing Crunch and Later, Starbucks, Elon Musk, Huric Dr Pepper, Qualcomm, The Big Ten, and Bed Bath and Beyond. |
0:27.8 | A lackluster session ended with mild gains on Thursday. |
0:31.4 | Seven of 11 S&P sectors ended higher, led by a 2.5% advance in energy. |
0:37.0 | Real estate in health care were among the segments to post narrow losses. |
0:41.0 | Rates pulled back a bit. |
0:42.8 | The 10-year Treasury yield slipped two bases points to 2.88 percent, and the two-year |
0:47.8 | yield dropped 8 bases points to 3.22 percent. In the earning spotlight today, Deer and Footlocker. |
0:57.0 | In our day watch is a standout decliner. |
1:00.0 | Cole's lost ground after reporting a disappointing Q2 profit and predicting a sales decline for the full year. |
1:06.6 | Weighed down by the quarterly update shares of the retailer dropped more than 7%. |
1:11.6 | The company's bottom line failed to meet expectations with |
1:14.8 | revenue dropping 8% from last year. For 2022 the company said it now expects a |
1:20.3 | sales decline of 5 to 6%. |
1:23.0 | KSS finished at $31.33, a decline of $2.62 on the day. |
1:30.0 | Now our top story. |
1:32.0 | This week's housing data did much to confirm a slowdown |
1:35.2 | sought by the Federal Reserve along with what may have been peak inflation last |
1:39.2 | week cooler housing data is another piece in the puzzle as the FOMC tightens conditions. |
1:44.9 | The outlier remains the labor market where jobless claims drop this week and payroll growth |
... |
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