Wall Street Breakfast August 26: Expect Jerome Powell to Push Back on Rate Hike and Pause Expectations at Jackson Hole

Wall Street Breakfast

Seeking Alpha

Business, Investing, Business News, News

3.8 • 950 Ratings

🗓️ 26 August 2022

⏱️ 7 minutes

🔗️ Recording | iTunes | RSS

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Summary

Expect Jerome Powell to push back on rate hike pause expectations at Jackson Hole. Meta sets October release of its newest VR headset. Nasdaq, S&P, Dow Jones futures slip, yield curve steepens ahead of Powell. Catch today’s WSB article seekingalpha.com/wsb. Invest Successfully With Alpha Picks https://seekingalpha.com/alpha-picks/subscribe.

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 Friday, August 26th, and I'm your host Julie Morgan.
0:16.0	Our top stories.
0:17.2	Jackson Hole, Snowflake, Peloton, Meta, Bed Bath and Beyond,
0:22.2	Twitter, Chipotle, and Boeing.
0:25.0	The major U.S. equity averages finish with solid gains on Thursday.
0:30.0	The NASDAQ led the rally climbing 1.7%.
0:33.8	All 11 S&P sectors finished higher.
0:36.4	Communication services and materials let the way,
0:39.4	both rising more than 2%.
0:41.5	There were also notable advances in real estate,
0:44.3	Infotech, industrials, and financials. In the bond market,
0:48.2	the 10-year Treasury yield dropped 7 bases points to 3.03%, and the two-year yield edged lower by a basis point to 3.37%.
0:58.0	On the economic front, weekly jobless claims fell by 2,000 to 243,000 compared to the forecasted 255,000 figure.
1:07.0	In the earning spotlight today, Jinko Solar Holding.
1:11.0	In our day watch is a standout gainer.
1:15.0	Strong financial figures and a boosted forecast prompted buying in Snowflake shares rose more than 23%.
1:22.0	Snow reported a quarterly loss that came in wider than analyzing. more than $497 million. Snow jumped $36.79 to conclude trading at $196.28.
1:38.9	With the advance, the company reached its highest close since April,
1:42.2	coming further off a 52-week low of $110.26
1:46.7	since established in mid-June.
	...

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