Wall Street Breakfast December 22: Bankman-Fried in US, Associates Plead Guilty

Wall Street Breakfast

Seeking Alpha

Business, Investing, Business News, News

3.8 • 950 Ratings

🗓️ 22 December 2022

⏱️ 7 minutes

🔗️ Recording | iTunes | RSS

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Summary

Bankman-Fried associates Ellison and Wang plead guilty to federal fraud charges. Micron Technology (MU) to cut 10% of workforce as chip market doldrums continue. Netflix (NFLX) to invest $850M in New Jersey production hub.

Transcript

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0:00.0	Welcome to Seeking Alpha's Wall Street Breakfast, your daily source of market news and analysis.
0:07.0	Subscribe to this podcast on Apple Podcast or Spotify.
0:11.0	Good morning. Today is Thursday, December 22nd, and I'm your host Julie Morgan.
0:16.7	Our top stories.
0:18.4	Sam Bankman Freed is in the U.S. and two of his associates have entered a guilty plea.
0:23.0	Netflix is planning a production hub in New Jersey.
0:26.0	Tyson Foods is relocating.
0:29.0	We have an update on the job cuts at Too Simple.
0:32.0	Core Scientific may get rid of mining sites and
0:35.1	Micron Technology is in our day watch. Bargain hunters dominated Wednesday's
0:41.2	action on Wall Street sending the major averages higher.
0:45.0	Well received earnings from Nike and FedEx contributed to improve sentiment as stocks
0:50.3	bounced back from losses posted over the previous couple of weeks.
0:54.3	The NASDAQ finished up 1.5%.
0:57.2	The S&P 500 closed up 1.5% as well, and the Dow ended up 1.6 percent.
1:04.0	All 11 S&P sectors pushed higher.
1:06.6	Industrial's energy and financials led the advance,
1:10.2	with larger than 1% gains also coming from utilities,
1:14.0	Infotech, Healthcare, Consumer Discretionary,
1:16.7	and Communication Services.
1:19.0	Elsewhere on the Economic Front,
1:20.8	November existing home cells retreated again, falling for the 10th straight month
	...

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