Wall Street Breakfast October 13: September's CPI Likely To Show 'stickier' Costs Rising More, Economists Say

Wall Street Breakfast

Seeking Alpha

Business, Investing, Business News, News

3.8 • 950 Ratings

🗓️ 13 October 2022

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

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Summary

September's CPI Likely To Show 'stickier' Costs Rising More, Economists Say. S&P, Dow, Nasdaq futures tick higher with all eyes on CPI. U.K. plays blame game: Finance minister says Bank of England owns market turmoil. Catch today’s WSB article https://seekingalpha.com/wsb. Invest Successfully With Alpha Picks https://seekingalpha.com/alpha-picks/subscribe.

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, October 13th,
0:13.9	and I'm your host Julie Morgan.
0:15.7	Our top stories.
0:17.0	CPI, a Fed What If, Know Before, ExxonMobil,
0:21.9	Wheat, and Norwegian.
0:24.1	U.S. stocks stumbled through an uncertain session
0:26.8	on Wednesday.
0:27.5	The major U.S. equity averages
0:29.3	finished this session lower,
0:30.6	with attention turning to the widely anticipated
0:33.2	CPI report due out today.
0:35.2	The dial closed down 0.1 percent, the S&P 500 ended down 0.3 percent,
0:41.2	and the NASDAQ finished down less than 0.1%. Seven of the 11
0:46.2	S&P sectors posted losses. Utilities led the retreat dropping 3.4%.
0:51.8	Real estate was another standout
0:53.8	decliner slumping by 1.4%.
0:56.8	No other market segment moved more than 1% in either direction.
1:01.1	Alex King from Cestrian Capital Research told seeking Alpha, quote, viewed purely at the closing
1:07.1	prices the market today, as in Wednesday, was merely killing time until the CPI catalyst Thursday.
1:14.0	PPI data neither geed up nor demolished a sentiment."
	...

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