Wall Street Breakfast June 24: Russell Rebalance May See Highest-Volume Trading Session Of The Year

Wall Street Breakfast

Seeking Alpha

Business, Investing, Business News, News

3.8 • 950 Ratings

🗓️ 24 June 2022

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

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Summary

Russell rebalance may see highest-volume trading session of the year. Tesla partners with PG&E on virtual power plant in California. All 34 banks in Federal Reserve's stress test would weather severe recession. Granholm and the oil industry collaborate -- positive outcome for refiners. 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 Friday, June 24th, and I'm your host Julie Morgan.
0:15.9	Our top stories, Footsy, Power, Oil and Stress, and Later, Netflix, Coin Base, and Yelp. Stocks recorded solid. and
0:23.0	yelp. Stocks recorded solid gains on Thursday,
0:26.0	but the advance followed another uncertain session.
0:29.0	The major U.S. equity averages saw gains early in the session
0:32.0	extending Tuesday's rebound after a slight The with the major averages spending a large chunk of the session with a mixed performance.
0:44.8	A late up draft left shares higher by close.
0:47.7	Ahead of the opening bell today, Dow S&P and NASDAQ futures are up.
0:52.2	The Dow up 0.8 percent, the S&P up nearly 1 percent, and the NASDAQ up 1.4 percent.
0:58.8	We'll take another look at futures as well as the world markets and crude oil in a few minutes.
1:05.0	In the earnings spotlight today, Carmax.
1:08.2	In our day watch, Farm Equipment Makers Ag Co, deer, and Caterpillar all slipped to new 52-week lows.
1:15.5	Ag Co declined more than 8% after Morgan Stanley downgraded the stock to equal weight from
1:20.9	overweight with the firm citing of potential recession.
1:24.4	Meanwhile, Deer declined 6% and Caterpillar fell by almost 5%.
1:29.6	And earnings news prompted a rally in Rite Aid with the firm unveiling a narrower than expected
1:35.3	loss and raised guidance.
1:37.5	shares jumped almost 20 percent.
1:39.5	The drugstore chain reported Red ink for its latest quarter.
1:42.6	However, the loss was not as deep as analysts had predicted.
	...

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