Wall Street Breakfast October 3: Crude Oil Soars As OPEC+ Weighs Cut To Production
Wall Street Breakfast
Seeking Alpha
3.8 • 950 Ratings
🗓️ 3 October 2022
⏱️ 7 minutes
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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 Monday, October 3rd, |
| 0:13.8 | and I'm your host Julie Morgan. |
| 0:15.6 | Our top stories. |
| 0:17.1 | OPEC Plus, UK Tax Cutts, Peloton, Lulu Lemon, Kia, Tesla, and Disney. |
| 0:25.0 | Despite attempts at a rally earlier in the day the major U.S. equity averages finished |
| 0:30.2 | this session with another day of losses on Friday. Adding to recent weakness, the Dow and. the it down 1.5%. The S&P 500 also finished down 1.5% and the Dow closed down 1.7%. |
| 0:49.6 | Now let's check out the catalyst watch for the week. For that, we turn to Seeking Alpha Managing Editor Kim Kahn. |
| 0:56.1 | We've got the big September non-fond payroll's number. |
| 0:59.1 | Now, the consensus is for 250K, |
| 1:01.4 | but I think you're going to see a wide range of expectations there. |
| 1:04.9 | And it's just a big number for the Fed, especially as the J Powell seems to have turned to actually wanting to see some erosion of the labor market |
| 1:14.8 | strength before he really believes that inflation has come under control and you |
| 1:19.3 | know if you keep getting numbers like above 300 k the market's not going to see that they're going to expect |
| 1:24.3 | more more hawkish behavior and risk assets are going to suffer that number |
| 1:30.6 | will be released Friday at 8.30 a.m. |
| 1:33.4 | You can catch the catalyst to watch every Saturday on the weekend bite |
| 1:37.2 | hosted by Leslie Osmond. |
| 1:39.9 | Now our top stories. |
| 1:41.4 | Oil prices could be poised for gains today as delegates say OPEC |
| 1:45.3 | plus will consider cutting production by 1 million barrels a day or more at the group's |
... |
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