Wall Street Breakfast August 30: Quantitative Tightening Goes Full Throttle: How Will It Impact Investors?

Wall Street Breakfast

Seeking Alpha

Business, Investing, Business News, News

3.8 • 950 Ratings

🗓️ 30 August 2022

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

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Summary

Quantitative tightening goes full throttle: How will it impact investors? Goldman says buy commodities, as markets overestimate global recession risk. EU plans to intervene in energy markets to stop surging power prices. Nasdaq, S&P 500, Dow Jones futures rise as market looks to break out of slump. Catch today’s WSB article seekingalpha.com/wsb. Start Your Free Trial of Seeking Alpha Premium - https://bit.ly/3uX5TDY.

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 Tuesday, August 30th, and I'm your host Julie Morgan.
0:16.0	Our top stories.
0:17.0	Quantitative tightening, EU energy, commodities, and later,
0:22.0	BP, Walmart, Apollo, YouTube, and Ford.
0:27.0	Stocks finish lower again on Monday,
0:29.0	extending a steep decline that took place Friday amid hawkish comments from Federal
0:33.8	Reserve Chairman Jerome Powell. The NASDAQ led the decline falling
0:37.6	another 1%. Nine of the 11 S&P sectors posted a decline on the session.
0:42.8	Infotech led the retreat falling by 1.3%.
0:46.3	Energy and utilities were the only sectors to end higher.
0:49.9	Treasury yields pushed higher.
0:51.6	The US 10-year Treasury yield rose 8 basis points
0:54.7	to 3.11%, while the US 2-year Treasury
0:58.4	yield gained 3 basis points to 3.43%. In the earnings spotlight today, Bank of Montreal, Baidu, Crowd Strike,
1:08.4	HP, Amberella, Best Buy, and Chewy.
1:13.0	In our day watch is a notable new high.
1:15.0	Investors cheered the latest earnings report from Napco security
1:19.0	with the stock jumping almost 12% on the results. The rally also took NSC to a 52-week eye. The security
1:27.3	products maker said its Q4 sales rose 22% from last year. The expansion was led by growth and recurring service revenue, which saw a 33% jump.
1:37.0	During the session, shares reached an intraday 52 week high of $28.86.
	...

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