Wall Street Breakfast July 5: Tariff Talk: White House Seeks to Ease Inflation While Keeping Leverage on China

Wall Street Breakfast

Seeking Alpha

Business, Investing, Business News, News

3.8 • 950 Ratings

🗓️ 5 July 2022

⏱️ 7 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Tariff talk: White House seeks to ease inflation while keeping leverage on China. Bezos spars with White House over fuel economics and inflation. Euro hits 20-year low against the dollar as growth worries increase. S&P, Nasdaq, Dow Jones futures dip as yield curve inverts again. 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.
0:11.3	Good morning. Today is Tuesday, July 5th, and I'm your host Julie Morgan.
0:15.9	Our top stories, Tariffs, and Baysos versus Biden,
0:20.0	and later Exxon, Wald,, Scandinavian Airlines and Tesla.
0:26.0	Despite a stumble out of the gate, stocks bounce back on Friday,
0:29.4	finishing the first trading session of July
0:31.8	solidly in positive territory.
0:34.0	Following the three day weekend ahead of the opening bell today, Dow
0:37.3	S&P and NASDAQ futures are down.
0:39.8	The Dow is down.15%, the S&P down 0.42% and the NASDAQ down 0.14%.
0:47.0	We'll take another look at futures as well as the world markets crude oil and commodities in a few minutes.
0:54.4	Our top stories.
0:55.5	Chinese tariff relief appears to be back on the table at the White House
0:59.4	as the Biden administration continues to confront red-hot inflation readings.
1:03.7	Some economists have found that Chinese exporters generally did not lower prices to keep
1:08.5	their goods competitive, meaning U.S. importers pass the duties on to American consumers.
1:14.0	Others say the move would not target inflation at its core and would do little while rewarding
1:18.8	an authoritarian government.
1:20.9	Reports suggest that a rollback on tariffs could come this week, though a decision is not final
1:26.2	and any announcement could be postponed.
1:29.1	Possible steps include lowering duties on several categories of consumer goods, ranging from clothing to school supplies.
	...

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