Wall Street Breakfast December 1: Slower Rate Hikes Soon?

Wall Street Breakfast

Seeking Alpha

Business, Investing, Business News, News

3.8 • 950 Ratings

🗓️ 1 December 2022

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

S&P, Nasdaq, Dow futures dip after Powell-induced surge, but yields keep sliding. FTX (FTT-USD) founder Sam Bankman-Fried: 'I never tried to commit fraud'. Next catalyst? Tesla (TSLA) holds a delivery event for the first Semi truck. Netflix's (NFLX) Hastings: Should have gotten into advertising sooner.

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 Thursday, December 1st, and I'm your host Julie Morgan.
0:15.8	Our top stories.
0:17.3	Fed Chair Jerome Powell says slower rate hikes soon.
0:20.9	Sam Bankman Freed says he never tried to commit fraud.
0:24.6	An FTC decision on Microsoft and Activision could come soon.
0:29.2	It's Tesla Semi Day, a Twitter truce with Apple. Netflix's co-ceeo embraces advertising, CNN is cutting jobs,
0:39.0	and XPeng and Crowd Strike are in our day watch.
0:49.0	Comments from Federal Reserve Chair Jerome Powell sparked a massive rally in the stock market on Wednesday as he signaled that the Fed could begin slowing its interest rate increases as early as the upcoming December meeting.
0:55.9	The NASDAQ closed up 4.4 percent.
0:58.7	The S&P 500 finished up 3.1 percent and the Dow ended up 2.2%. The broad-based rally included gains in all 11
1:07.3	S&P sectors. Tech led the way higher with approximately 5% gains in both
1:12.3	Infotech and Communication Services.
1:15.2	Turning to the fixed income market, Powell's comments also sparked buying and bonds,
1:19.8	driving yields lower. The 10-year Treasury yields
1:22.8	dropped six basis points to 3.69%.
1:26.3	The two-year yield retreated 11 basis points to 4.36%.
1:31.1	We'll get to more on Fed Chair Jerome Powell's comments in our top story.
1:35.0	In the earnings spotlight today, Toronto Dominion Bank, Dollar General,
1:41.0	Ulta Beauty, Marvell Technology, and Kroger.
1:45.8	We have three stories in our day watch today.
	...

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