Wall Street Breakfast August 5: Sinema Agrees to Proceed with Senate Tax and Climate Bill

Wall Street Breakfast

Seeking Alpha

Business, Investing, Business News, News

3.8 • 950 Ratings

🗓️ 5 August 2022

⏱️ 6 minutes

🔗️ Recording | iTunes | RSS

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Summary

Sinema agrees to proceed with the Senate tax and climate bill after carried interest pledge. Meta Platforms selling debt for first time with $10B deal. Apple accused of retaliating against, mishandling allegations against women: report. Markets will be looking for signs of cracking in Friday's jobs 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 Friday, August 5th,
0:13.6	and I'm your host Julie Morgan.
0:15.6	Our top stories, Cinema, Apple, and Meta,
0:19.2	and later, Water Brothers Discovery and Tesla.
0:23.4	The major U.S. equity averages posted a mixed performance on Thursday.
0:27.8	The NASDAQ edged higher while the Dow and S&P 500 dipped.
0:31.6	Seven of the 11 S&P sectors posted gains on the session.
0:35.1	However, all of these advances were fractional,
0:37.7	led by a 0.5% tick higher in the consumer discretionary segment.
0:42.4	Meanwhile, energy represented the day's biggest source of weakness.
0:46.3	The sector fell nearly 3.6 percent, dragged down by another drop in oil prices.
0:51.6	In the bond market, the U market the US 10-year Treasury yield
0:54.4	retreated nine basis points to 2.66% while the US two-year
0:59.4	Treasury yield declined nine basis points to 3.01%.
1:04.0	And looking ahead to today, the jobs report is due out at 830.
1:08.2	Economists expect the numbers to expand by 230,000 jobs in July, down from the 372,000 reported in June.
1:16.6	The unemployment rate is expected to stay at 3.6%
1:20.6	near its all-time low.
1:23.2	In the earnings spotlight today, Goodyear Tire and Rubber, Western Digital, AMC Networks, and
1:29.7	Draft Kings.
	...

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