Wall Street Breakfast August 29: Jackson Hole Hangover: Stock Futures Continue To Slide After Wall Street Rout

Wall Street Breakfast

Seeking Alpha

Business, Investing, Business News, News

3.8 • 950 Ratings

🗓️ 29 August 2022

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

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Summary

Jackson Hole hangover: Stock futures continue to slide after Wall Street rout. Walmart to buy South African retailer Massmart in $377M deal. Netflix eyes a $7-$9 per month price for an ad-supported video plan. 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.
0:11.3	Good morning. Today is Monday, August 29th, and I'm your host Julie Morgan.
0:16.0	Our top stories.
0:17.4	The fallout from Jackson Hole.
0:19.4	Netflix, Meta, NBC, The DOJ, 3M, LG, and Honda.
0:26.6	Wall Street suffered a major setback on Friday
0:29.2	with stocks plummeting in the wake of comments
0:31.5	from Federal Reserve Chairman Jerome Powell, who warned that the fight
0:34.9	against inflation could lead to some pain for the economy.
0:38.3	We'll get to more of his comments in a minute in our top story.
0:41.3	Friday's retreat saw the Dow drop more than 1,000 points and the
0:44.9	NASDAQ record a decline of nearly 4%. All 11 S&P sectors posted losses on
0:50.6	the day. Infotech led the retreat falling 4.3%. Consumer Services and
0:56.0	consumer discretionary also showed deep declines with both sliding about 3.9%.
1:02.0	In the earnings spotlight today, Pinduo Duo and Haico. Today is Monday, so here's your catalyst
1:10.5	watch for this week. Kim Khan is the managing editor at Seeking Alpha.
1:15.1	He talks about one big thing
1:16.6	you should be on the lookout for this week.
1:18.6	And we got the end of the week,
1:19.9	non-farm payrolls for August.
1:21.6	And the consensus is just south of 300,000 but our friends at
	...

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