Wall Street Breakfast October 7: Nonfarm Payrolls Expected To Edge Down In September Jobs Report

Wall Street Breakfast

Seeking Alpha

Business, Investing, Business News, News

3.8 • 950 Ratings

🗓️ 7 October 2022

⏱️ 7 minutes

🔗️ Recording | iTunes | RSS

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Summary

Nonfarm payrolls expected to edge down in September jobs report. Cannabis multi-state operators soar as Biden calls for marijuana federal scheduling review. Judge pauses Twitter-Musk trial to allow for closing. 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.
0:11.1	Good morning. Today is Friday, October 7th,
0:13.9	and I'm your host Julie Morgan.
0:15.8	Our top stories, jobs numbers, cannabis,
0:19.4	Twitter, and Geodynamics, Google, E-S-P and PepsiCo.
0:25.0	Stocks ticked down again Thursday giving back another chunk of the sharp gains
0:30.0	posted earlier in the week. The Dow was down 1.2 percent. The S&P 500 closed down 1% and the
0:36.8	NASDAQ gave up 0.7 percent. 10 of the 11 S&P sectors finished the day lower.
0:43.1	This included greater than 3% declines
0:45.6	in the interest rate sensitive real estate
0:48.0	and utility segments.
0:49.6	Energy represented the day's only winter rising 1.8 percent. In the bond market the 10-year
0:55.7	Treasury yield rose six basis points to 3.82 percent and the two-year yield
1:00.9	gained nine basis points to 4.24%.
1:04.8	On the economic calendar, initial jobless claims
1:07.7	figures came in higher than anticipated.
1:10.2	Claims numbers rose to 219,000 above the economists forecast at 203,000 level.
1:16.5	The results also came in higher than the previous week's reading of 193,000.
1:21.8	For the next Fed meeting, traders are now pricing in a 77% chance
1:26.6	that markets will see a 75 basis point hike
1:29.5	compared to a 23% likelihood of a 50 basis point hike.
	...

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