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Wall Street Breakfast

Wall Street Breakfast June 15: Decision Day for the Federal Reserve -- 50, 75 or 100 Basis Point Rate Hike?

Wall Street Breakfast

Seeking Alpha

Business, Investing, Business News, News

3.8950 Ratings

🗓️ 15 June 2022

⏱️ 8 minutes

🧾️ Download transcript

Summary

Decision day for the Federal Reserve -- 50, 75 or 100 basis point rate hike? European Central Bank calls emergency meeting to discuss market turmoil. Washington floats idea of doubling tax on oil companies to battle inflation. 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 Wednesday, June 15th, and I'm your host Julie Morgan.

0:16.0

Our top stories, Decision Day, the European Central Bank and Oil Companies. Let's first take a look at market futures.

0:25.0

After uncertain pre-fed trading leads to a mixed finish for the S&P 500, Dow Jones and

0:30.9

Nasdak Tuesday, Dow S&P and NASDAQ futures are up.

0:35.4

The Dow up 0.4%, the S&P up 0.6%

0:39.4

and the NASDAQ up nearly 3 quarters of a percent.

0:42.8

We'll take another look at market futures

0:44.6

as well as the world markets crude oil and commodities

0:48.4

in a few minutes.

0:50.3

In the earnings spotlight today, John Wiley and Sons. In our day watch, FedEx Corporation soared on Tuesday after the shipper boosted its quarterly dividend by more than 50 percent and added two directors to his board as part of an agreement with activist investor D.E. Shaw.

1:08.0

The rally for FDX shares was the biggest in 29 years and helped lift other transport stocks.

1:15.0

And Revlon's stock surges despite the likelihood of bankruptcy.

1:19.0

At Session High Tuesday, shares of Revlon reached $3.15 a share.

1:24.3

According to the Wall Street Journal,

1:25.8

the company is expected to file for Chapter 11 bankruptcy protection

1:29.8

by the end of the week.

1:31.1

Revlon closed Tuesday up nearly 60%. Now our top stories.

1:37.6

For weeks the members of the Federal Reserve's Federal Open Market Committee have been saying

1:42.3

they're on board with boosting their

1:44.2

key policy rate by 50 basis points at each of the next two meetings.

...

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