Wall Street Breakfast June 9: UAE Oil Minister says Prices 'Nowhere Near' Peak

Wall Street Breakfast

Seeking Alpha

Business, Investing, Business News, News

3.8 • 950 Ratings

🗓️ 9 June 2022

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

UAE oil minister says prices 'nowhere near' peak. Is a bank charter in the cards after Apple touts 'Pay Later' program? U.S. mayors organization wants Congress to pass SAFE Banking Act for cannabis businesses. Looking for a market bottom? This signal flashed the recent top. 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.
0:11.2	Good morning. Today is Thursday, June 9th, and I'm your host Julie Morgan.
0:15.8	Our top stories, oil prices, apple, and marijuana.
0:20.1	First, let's take a look at market futures.
0:22.6	Dow, S&P and NASDAQ futures are up.
0:25.2	The Dow is up 118 points, the S&P up 18 points, and the NASDAQ up 79 points.
0:31.5	We'll take another look at futures as well as the world markets
0:34.6	crude oil and commodities in a few minutes. In the earning spotlight today, Neo, Signet Jewelers, Docusine, Rent The Runway, and Stitch Fix.
0:48.2	On our day watch, Alibaba shares climbed almost 15% Wednesday.
0:53.0	Alibaba is also up nearly 5% in pre-market trading.
0:57.3	This as the Chinese internet giant benefited from signs that the Beijing government
1:01.9	is taking steps to support its tech sector after a year of crackdowns and regulatory influence.
1:08.0	Chinese authorities approved another license for domestic video games.
1:12.0	It was the second round of new licenses this week.
1:15.3	China put a halt on such licenses last year. Also in our day watch, Netflix and Roku.
1:22.0	There's speculation over a potential sale of Roku to Netflix.
1:26.0	Some say the idea is absurd.
1:28.0	Netflix gained more than 2% in Wednesdays trading.
1:31.0	Roku closed up more than 9%.
1:35.2	Now our top stories.
1:37.1	Oil prices are nowhere near their peak.
	...

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