3.8 • 950 Ratings
🗓️ 12 September 2022
⏱️ 8 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, September 12th and I'm your host Julie Morgan. |
0:15.8 | Our Top Stories The Catalyst Watch, Payment Cards and Guns, Disney, J.P. Morgan Chase, Johnson and Johnson, and crypto. |
0:25.0 | Stocks added to a recent recovery with another rally on Friday, |
0:30.0 | bolstered by strength in the technology and energy sectors. |
0:33.7 | The advance led by a greater than 2% upswing in the NASDAQ allowed the major averages |
0:38.8 | to close out the week with their third consecutive day of gains. All 11 S&P sectors finished higher. |
0:45.0 | This was led by a 2.5% advance in communication services, |
0:48.8 | with Infotech also showing a substantial advance. |
0:51.8 | Meanwhile, Energy jumped about 2.4% as oil prices |
0:56.0 | rebounded. Friday represented the last chance for Federal Reserve officials to |
1:00.5 | speak before the blackout period heading into the Central Bank's upcoming policy meeting on the 20th and 21st. |
1:07.0 | The market is pricing in a 90% chance of a hike of 75 basis points now, |
1:12.0 | with a 10% possibility that the increase would only be 50 basis points. |
1:16.6 | Which brings us to our catalyst watch for the week. |
1:19.4 | To help us out with that, here Seeking Alpha managing editor Kim Khan. |
1:23.8 | It's a last full week of data that the Fed's going to get before it's an interest rate decision. |
1:28.8 | The highlight being of course Tuesday's CPI. |
1:31.8 | Morgan Stanley out talking about expectations for a negative month-to-month |
1:37.4 | print on headline CPI. That would be a big shift from just a couple of months ago and for the headline year of year number to sink below 8%. |
1:46.5 | If we had a big miss on the downside for CPI and a much tamer than expected number, it could throw a bit of a wrench into the |
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