meta_pixel
Tapesearch Logo
Log in
Wall Street Breakfast

Wall Street Breakfast August 19: As Housing Weakens, Market Tilts Back to Smaller Fed Hike

Wall Street Breakfast

Seeking Alpha

Business, Investing, Business News, News

3.8950 Ratings

🗓️ 19 August 2022

⏱️ 7 minutes

🧾️ Download transcript

Summary

As housing weakens, market tilts back to smaller Fed hike. Starbucks COO to exit company. Big Ten sets multibillion-dollar media deal with CBS, NBC, Fox. Nasdaq, S&P, Dow futures fall with market in danger of snapping win streak. Catch today’s WSB article here.

Transcript

Click on a timestamp to play from that location

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

...

Please login to see the full transcript.

Disclaimer: The podcast and artwork embedded on this page are from Seeking Alpha, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Seeking Alpha and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.

Copyright © Tapesearch 2025.