meta_pixel
Tapesearch Logo
Log in
Wall Street Breakfast

Wall Street Breakfast November 23: FTX, Bankman-Fried’s ‘Personal Fiefdom’

Wall Street Breakfast

Seeking Alpha

Business, Investing, Business News, News

3.8950 Ratings

🗓️ 23 November 2022

⏱️ 9 minutes

🧾️ Download transcript

Summary

Bankman-Fried treated crypto exchange FTX as his 'personal fiefdom', lawyer says. Lawmakers urge Fidelity to reconsider offering bitcoin (BTC-USD) 401(k) plans after FTX collapse. HP (HPQ) to cut up to 6,000 jobs as part of plan to 'Future Ready' PC company. Learn more about these stocks with a free trial of Seeking Alpha Premium 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.

0:11.2

Good morning. Today is Wednesday, November 23rd, and I'm your host Julie Morgan.

0:16.2

Our top stories.

0:17.8

FTX a personal fiefdom?

0:20.2

Goldman Sachs pays a hefty fine.

0:22.6

Tegna extends its deal agreement with standard general.

0:26.4

Lombakers are making a special request of fidelity.

0:30.1

HP is cutting up to 6,000 jobs, another student loan payment pause extension,

0:36.2

and the retail sector is in our day watch.

0:39.2

Following a stumble the day before, the major U.S. equity averages found their footing on Tuesday,

0:45.0

with each posting gains of more than 1%. A spate of strong retail earnings helped lift the broader market.

0:51.9

Amid then trading ahead of the Thanksgiving holiday tomorrow.

0:55.7

The NASDAQ closed up 1.4%.

0:58.3

The S&P 500 also ended up 1.4% and the Dow finished up 1.2%. All 11 S&P sectors post it gains on the day.

1:08.0

Energy let the advance climbing by more than 3%.

1:11.4

Materials and Infotech were also among the leaders to the upside.

1:15.6

Andrew Hecht is a seeking alpha contributor and the author of the Hecht Commodity Report.

1:20.9

He said stocks rallied with retailers leading the way as the market appears to be in holiday mode.

1:26.4

Meanwhile, liquidity is low in what could be a case of all quiet before a volatile storm.

1:31.8

He went on to say that the Fed's monetary policy

1:34.4

approach is critical and the stock market could face end of the year tax loss

...

Please login to see the full transcript.

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.

Copyright © Tapesearch 2025.