Wall Street Breakfast June 16: Stock Futures Reverse Post-Fed Rally as Traders Reassess Biggest Rate Hike Since '94

Wall Street Breakfast

Seeking Alpha

Business, Investing, Business News, News

3.8 • 950 Ratings

🗓️ 16 June 2022

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

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Summary

Stock futures reverse post-Fed rally as traders reassess biggest rate hike since '94. Musk expected to confirm ownership push in Twitter meeting - WSJ. Exxon responds to Biden's request for solutions to the oil refining crisis. Binance looks to hire 2,000 as other crypto firms cut their headcount. 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 Thursday, June 16th, and I'm your host Julie Morgan.
0:16.0	Our top stories.
0:17.2	The answer to the question is 75.
0:19.9	An oil company responds to Podes, and Elon Musk goes to Twitter.
0:25.0	First, we'll take a look at market futures.
0:28.0	After stocks finished hire on Wednesday, recovering some of their recent losses
0:32.0	as the Federal Reserve signaled that it would front load
0:34.8	interest rate increases to tempt down inflation. Dow S&P and NASDAQ futures ahead of the
0:40.5	opening bell are down. The Dow is down 1.7%. The S&P is down just more than 2%, and the
0:47.6	NASDAQ is down nearly 2.5%. We'll take another look at market futures as well as the world markets and crude oil in just a few minutes.
0:57.0	In the earnings spotlight today, Adobe, Kroger, and Jabel.
1:04.2	In our day watch, Acadia Pharmaceuticals was among the standout gainers in Wednesday session.
1:10.1	The stock posted a double-digit percentage climb. The firm is looking to get regulatory approval to expand the use of its anti-psychotic drug to Alzheimer's patients.
1:20.4	Elsewhere Sanderson Farms rallied to a new 52 week high after an analyst said the poultry
1:25.8	producer had upside potential as a standalone company.
1:29.5	Turning to the downside, Planet Labs dropped on earnings news.
1:33.9	At the same time, Camping World extended recent losses
1:37.4	to establish a new 52-week low.
1:40.8	Now are our top stories. First, the news heard around the world just after 2 o'clock
1:45.8	Wednesday. The Federal Reserve implemented his largest interest rate hike
	...

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