Wall Street Breakfast December 5: Russia Won't Accept G7 Oil Price Cap

Wall Street Breakfast

Seeking Alpha

Business, Investing, Business News, News

3.8 • 950 Ratings

🗓️ 5 December 2022

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

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Summary

Russia won't accept the G7 oil price cap, even if it has to cut output. Tesla (TSLA) to cut production at Shanghai plant amid slow demand - Bloomberg. GM (GM) venture to invest additional $275M to expand a Tennessee battery cell factory for EV.

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.
0:11.3	Good morning. Today is Monday, December 5th and I'm your host Julie Morgan.
0:15.8	Our top stories.
0:17.3	The Russian oil price cap.
0:19.5	Ab agrees to pay up.
0:21.3	Tesla is cutting production. A former FTX executive needs money for his own
0:26.7	crypto startup. Apple is back on Twitter. GM is putting more into a battery plant in the US, and the catalyst watch for the week.
0:37.0	Stocks finished mixed on Friday, overcoming an early slide to recover back to the flat line by the close.
0:43.5	A strong jobs report sparked an initial slide casting doubt on expectations that the Federal
0:48.8	Reserve would be able to back off of its ultra-hawkish policy in the near term.
0:53.8	However, this diminished as the session wore on,
0:56.6	with stocks generally holding the strong gangs they posted earlier in the week.
1:01.5	The NASDAQ closed down 0.2%. The S&P 500 finished down 0.1% and the Dow ended up 0.1%.
1:11.1	Alex King is an analyst with Cestrian capital research.
1:15.0	You can find their Growth Investor Pro Service at
1:18.0	seeking Alpha.com slash Marketplace.
1:21.0	He said what happened in the Equity Indices Friday is precisely what
1:25.3	confounds and annoys normal folk who believe that the markets react to the
1:29.7	news and what amuses professional investors who know that markets already know the news.
1:35.8	He went on to say that the hotter than expected payrolls cause what to a normal person looked
1:40.9	like a run for the hills only to have the major US equity
	...

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