Wall Street Breakfast September 1: August Jobs Report To Provide More Clues On Economy's Direction, Fed's Rate Path
Wall Street Breakfast
Seeking Alpha
3.8 • 950 Ratings
🗓️ 2 September 2022
⏱️ 8 minutes
🧾️ Download 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 Friday, September 2nd, and I'm your host Julie Morgan. |
| 0:15.9 | Our Top Stories, Jobs, Starbucks, Apple, Netflix, Meta, Shopify, Comcast, and a common question. |
| 0:26.3 | Stocks finish mixed on Thursday with the Dow and S&P 500 |
| 0:29.8 | halting a recent decline by finishing the day in positive territory. |
| 0:34.0 | Meanwhile, the NASDAQ recovered most of its early losses but still brought its losing |
| 0:38.3 | streak to a fifth consecutive session. |
| 0:40.5 | Eight of the 11 S&P sectors posted gains on the session, health care and utilities were among the best performers. |
| 0:47.0 | Energy represented the biggest declineer falling by 2.3 percent. |
| 0:51.0 | In the bond market, rates shot up following the latest round of economic data, |
| 0:56.1 | which showed strength on the manufacturing and jobs fronts. The 10-year Treasury |
| 1:00.4 | yield advanced 12 basis points to 3.26 percent and the 2 year |
| 1:05.0 | Treasury yield rose 6 basis points to 3.51 percent. Looking at the |
| 1:09.8 | economic data, weekly jobless claims fell by 5,000 to |
| 1:13.7 | 232,000 compared to the forecasted 246,000 number that economists expected. |
| 1:19.8 | In our day watch is an update to a story we brought you Thursday here on Wall Street breakfast. |
| 1:26.0 | Semiconductor stocks fell after NVIDIA and AMD received warnings from the US government |
| 1:31.5 | about the sale of some products to China and Russia. |
| 1:34.6 | In VDA noted that the action indicated that the new license requirements will address the |
| 1:39.5 | risk that the covered products may be used in or diverted to a military end-use or military end-user in |
| 1:46.8 | China and Russia. |
... |
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