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Wall Street Breakfast

Wall Street Breakfast August 22: Wall Street Banks Nearing $1B Settlement Over Use of Banned Messaging Apps

Wall Street Breakfast

Seeking Alpha

Business, Investing, Business News, News

3.8950 Ratings

🗓️ 22 August 2022

⏱️ 8 minutes

🧾️ Download transcript

Summary

Wall Street banks said to be nearing $1B settlement over use of banned messaging apps. Worsening drought seen as next big threat of economic disruption. AMC plunges as rival Cineworld confirms potential bankruptcy filing. Warren Buffett not expected to make bid for control of Occidental - report. Catch today’s WSB article here.

Transcript

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0:00.0

Welcome to Seeking Alpha's Wall Street Breakfast, your daily source of market news and analysis.

0:06.8

Subscribe to this podcast on Apple Podcast, Spotify or Stitcher.

0:11.2

Good morning. Today is Monday, August 22nd, and I'm your host Julie Morgan.

0:16.1

Our top stories.

0:17.4

Wall Street Banks, Energy, and Center World, and later, crypto, Berkshire Hathaway, an update on Manchester United, Tesla, and

0:27.0

streaming.

0:28.0

The major U.S. equity averages lost ground on Friday.

0:32.3

The NASDAQ led the drop falling by 2%.

0:35.2

As the S&P 500 finished lower for the week, breaking a four-week winning streak.

0:39.8

The S&P 500 fell 1.3% and the Dow closed down nearly 0.9%.

0:46.2

After a week of cooler housing data, the market is pricing in a fed hike of 50 basis points

0:51.2

in September.

0:53.2

In the earnings spotlight today,

0:55.2

Palo Alto Networks and Zoom Video.

0:59.1

Today is Monday, so we're covering the Catalyst Watch.

1:01.8

Looking ahead to this week,

1:03.0

there are several items to look out for.

1:05.2

Here's Daniel Snyder with what could move the markets this week.

1:08.8

Jackson Hole starts Thursday,

1:11.0

which investors will be waiting for headlines from the event to

1:13.5

hopefully gain some more insights into how the Fed is thinking about the

1:17.0

economy, especially since we've gotten new data points, right? Tuesday we're going

...

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