Wall Street Breakfast October 4: New York Fed's John Williams Peels Back The Inflation Onion

Wall Street Breakfast

Seeking Alpha

Business, Investing, Business News, News

3.8 • 950 Ratings

🗓️ 4 October 2022

⏱️ 7 minutes

🔗️ Recording | iTunes | RSS

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Summary

Rally set to continue; Nasdaq, S&P, Dow futures jump as 2-year yield tests 4%. Stock market bottom talk gets louder, but Fed pivot hopes look more pie in the sky. New York Fed's John Williams peels back the inflation onion. Catch today’s WSB article seekingalpha.com/wsb. Start Your Free Trial of Seeking Alpha Premium - https://bit.ly/3uX5TDY.

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 Tuesday, October 4th, and I'm your host Julie Morgan.
0:15.9	Our top stories, Energy, Blue Apron, Inflation, Pashmark, Rivian, and Twitter. Following a string of losses over the last couple of weeks
0:25.9	stocks bounce back on Monday. The Dow surged more than 700 points while the
0:30.8	S&P 500 rose about 2.6 percent, just its second highest finish in the last 10 sessions.
0:37.5	The NASDAQ ended up 2.3 percent.
0:40.1	All 11 S&P sectors finished higher in the broad-based rally, with a jump in oil prices, energy
0:46.3	climbed about 5.8%.
0:48.9	Industrials, Infotech, and materials also rose by more than 3%.
0:54.0	Looking at the bond market, the 10-year Treasury
0:56.4	yield fell 14 basis points to 3.66%
1:00.4	and at one point dropped by 20 basis points.
1:03.0	The two-year yield declined nine basis points to 4.12%.
1:08.0	In the earnings spotlight today,
1:11.0	Acuity Brands and Smart Global.
1:14.7	In our day watch, let's talk about the energy sector.
1:17.8	A rebound in oil prices carried stocks in the energy sector higher.
1:22.0	The rally came amid speculation that OPEC Plus will cut production
1:25.7	at the group's meeting tomorrow.
1:27.5	Marathon Oil represented one of the best performers
1:30.7	among the sector's major names, rising by nearly 11%.
	...

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