Wall Street Breakfast May 19: Biden Invokes Defense Production Act to Alleviate Baby Formula Shortage

Wall Street Breakfast

Seeking Alpha

Business, Investing, Business News, News

3.8 • 950 Ratings

🗓️ 19 May 2022

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Biden invokes Defense Production Act to alleviate baby formula shortage. Amazon is accused by New York agency of discrimination violations. Prepare for $6.00 prices at the pump, says JP Morgan. Catch today’s WSB article here.

Transcript

Click on a timestamp to play from that location

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.
0:11.0	Good morning. Today is Thursday, May 19th, and I'm your host Julie Morgan.
0:15.2	Our top stories, Baby Formula, Amazon and Gas Prices.
0:19.8	President Biden invokes the Defense Production Act to help with the baby formula shortage.
0:24.9	But what does this mean?
0:26.3	Amazon is accused of discrimination.
0:28.7	Who made the complaint?
0:30.2	And gas prices are up.
0:31.8	How high will they go?
0:33.4	First, let's take a look at the market.
0:35.5	The Dow Jones closed down 1,165 at 3,000-490.
0:40.5	The S&P down 165 to close at 3,924 and the NASDAQ down 566 at 11-418.
0:49.0	On to our day watch, the top gainers, Big Bear AI Holdings up 21%
0:54.4	D Local Limited Class A 15%.
0:57.6	Lulu's fashion lounge Holdings gained 15%,
1:01.0	oncology Institute 16%, and Buzzfeed Class A 13%.
1:07.4	The top losers, Visionary Education Technologies Down 80%, Target Corp,% Hillovacs lost 18%
1:16.6	Local bounty Corp class A 17% and Triumph Group 18%
1:22.4	You can find the top gainers and losers and Triumph Group 18%.
1:22.8	You can find the top gainers and losers at seeking Alpha.com.
1:27.2	We'll take a look at Dow S&P and NASDAQ futures in a few minutes
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Seeking Alpha, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Seeking Alpha and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.