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Wall Street Breakfast

Wall Street Breakfast July 8: June Jobs Report, Temperature Check of the Economy

Wall Street Breakfast

Seeking Alpha

Business, Investing, Business News, News

3.8950 Ratings

🗓️ 8 July 2022

⏱️ 6 minutes

🧾️ Download transcript

Summary

June jobs report will be parsed for signs of labor market cooling. Twitter drops off 7.5% on report Musk's purchase bid in jeopardy. Spirit Airlines postpones Frontier holder vote as talks progress with JetBlue. Former Japan Prime Minister Shinzo Abe shot and killed. 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.

0:11.4

Good morning. Today is Friday, July 8th, and I'm your host Julie Morgan.

0:15.8

Our Top Stories, Jobs, Twitter, and Spirit, and later, Costco and GameStop. Stocks climbed on Thursday adding to Gaines posted the previous day with the NASDAQ rising more than 2%.

0:30.0

Ahead of the opening bell today, Dow, S&P, and NASDAQ features are up, all less than 0.1%.

0:38.2

In our day watch, Helen of Troy dropped following the release of his quarterly results, sliding almost 9%.

0:44.9

The company provided a disappointing forecast.

0:47.6

H-E-L-E-Beat expectations with its Q-1 results, but issued a week forecast for the rest of the year.

0:53.7

Blaming a significant shift in the macroeconomic outlook, the company predicted a full year

0:58.8

revenue of 2.15 to 2.2 billion dollars. Analysts were looking for a total of about 2.4 billion.

1:06.2

Dragged down by the guidance, the stock retreated $15.14 to close at $154.75. The stock has fallen about 37% in 2022.

1:19.2

Baidu, Alibaba, and JD.com jumped on Thursday as Bloomberg reported that China is

1:25.0

considering letting local government sell up to $220 billion in bonds aimed at

1:30.4

infrastructure spending to boost the economy.

1:33.2

The news outlets citing people familiar with the discussions

1:36.6

noted that this would be the first time bonds are sold before the start of the year.

1:40.8

Additionally, the $220 billion in sales would come from next

1:44.9

year's quota. The country has also said that it would maintain its efforts to

1:49.2

boost car sales. Now our top stories. Today economists and investors will be looking at the

1:56.1

Department of Labor's view of how much hiring took place in June. Federal

2:00.1

reserve policy makers will also be considering what the amount of jobs created

2:04.4

last month says about the temperature of the economy.

...

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