Wall Street Breakfast December 2: Did November See Slower Job Growth?

Wall Street Breakfast

Seeking Alpha

Business, Investing, Business News, News

3.8 • 950 Ratings

🗓️ 2 December 2022

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

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Summary

Expected slower job growth in November may give Fed room to ease the pace of hikes. Senate passes bill to avoid rail strike. Job cuts at CNN (WBD), Wells Fargo (WFC) and SiriusXM (SIRI).

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, December 2nd,
0:14.0	and I'm your host Julie Morgan.
0:15.8	Our top stories.
0:17.3	What will the jobs report tell us?
0:19.6	The Supreme Court will hear arguments
0:21.6	on student loan forgiveness. A rail worker bill is going to the
0:25.4	president's desk. CNN, Sirius, and Wells Fargo are cutting jobs. SpaceX gets the
0:32.0	okay from the FCC.
0:33.7	Apple is working on its mixed reality headset.
0:37.2	McDonald's is getting smaller and Octa is in our day watch.
0:41.9	Following a sharp rally the previous day Octa is in our day watch.
0:42.8	Following a sharp rally, the previous day Wall Street had trouble establishing
0:46.8	sustained momentum on Thursday.
0:49.1	The NASDAQ finished up 0.1%.
0:51.9	The S&P 500 ended down 0.1%. The S&P 500 ended down 0.1% and the Dow closed down 0.6%. The Dow was
0:59.1	undermined by an 8% drop in Salesforce which released its quarterly results and announced the departure of one of its co-ceeos.
1:07.0	Seven of the 11 S&P sectors finished in the red, no segment moved more than 1% in either direction.
1:14.0	The most notable action took place in financials, which dropped 0.7% on the day.
1:20.0	Leo Nellison is an analyst and Seeking Alpha contributor.
1:23.8	He said Thursday's trading was somewhat boring as market participants knew that upcoming economic
	...

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