Wall Street Breakfast June 1: OPEC+ Rumored to Exempt Russia, Pave Way for Increased Production

Wall Street Breakfast

Seeking Alpha

Business, Investing, Business News, News

3.8 • 950 Ratings

🗓️ 1 June 2022

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

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Summary

OPEC+ rumored to exempt Russia, pave way for increased production. Is a recovery in sight as Shanghai ends its two-month lockdown? Sen. Warren plans bill to crack down on SPAC deals. 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.
0:11.5	Good morning. Today is Wednesday, June 1st, and I'm your host Julie Morgan.
0:16.0	Our top stories, OPEC Plus, Shanghai and SPAC.
0:20.2	But first, let's take a look at market futures.
0:22.8	Dow S&P and NASDAQ futures are mixed.
0:25.6	The Dow up 118 points, the S&P up 3 points, and the NASDAQ down 12 points.
0:31.2	We'll take another look at futures as well as the world markets
0:34.6	crude oil and commodities in just a few minutes. In the earning spotlight today,
0:40.5	Capri Holdings, GameStop, Hewlett Packard Enterprise, Mongo
0:45.8	DB, U.I. Path and Chewy. Tuesday here on Wall Street breakfast we told you
0:52.1	Salesforce was in the earnings spotlight.
0:54.8	Salesforce shares rose in aftermarket trading after the company posted Q1 results that topped expectations.
1:02.1	Salesforce raised its adjusted earnings guidance for the rest of its fiscal year.
1:06.6	For the period ending April 30th, Salesforce earned 98 cents a share, excluding one-time
1:12.3	items on 7.1 billion dollars in revenue.
1:15.8	Analysts were expecting 94 cents a share on revenue of 7.38 billion.
1:22.0	Now on to our top stories.
1:24.0	OPEC Plus is rumored to exempt Russia and pave the way for increased production.
1:29.0	OPEC is set to meet Thursday.
1:31.0	Most sources say the group plans to stick with production increases previously
1:35.2	detailed. It was just a week ago that Saudi signaled their support of working with Russia as a
	...

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