Wall Street Breakfast September 13: Inflation Expected To Cool In August, But Fed Still Seen Acting Aggressively Thereafter
Wall Street Breakfast
Seeking Alpha
3.8 • 950 Ratings
🗓️ 13 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 Tuesday, September 13th, and I'm your host Julie Morgan. |
| 0:16.0 | Our top stories. |
| 0:17.4 | CPI, Carvana, Peloton, Rent the Runway, Starbucks, Blue Origin, and Google. |
| 0:25.0 | Another day of gains for the major U.S. |
| 0:28.0 | Indices with the Dow Jones S&P 500 and the NASDAQ |
| 0:31.0 | all finishing in positive territory. |
| 0:34.0 | The Dow gained 229 points. |
| 0:36.2 | The S&P 500 gained 43 points and the Nasdak 154 points. |
| 0:41.4 | We'll take a look at futures in just a few minutes. |
| 0:44.0 | With the Central Banks Interest Rate Decision on tap for next week, |
| 0:48.0 | markets are hedging for another aggressive 75 basis point rate hike |
| 0:52.0 | as inflation still hovers around a 40 year high. |
| 0:55.0 | Traders see a 92% probability that the Fed's Federal Open Market Committee will lift its Fed funds target |
| 1:01.6 | range to between 3 and 3.25 percent, from the current range of 2.25 to 2.50 percent, |
| 1:09.2 | according to CME's Fed Watch tool. |
| 1:11.7 | That compares with a mere 8% probability of a 50 basis point move. |
| 1:16.8 | The next Fed meeting is a week away on September 20th and 21st. |
| 1:21.9 | In the earnings spotlight today, Corin, Maine, and Vintage Wine Estates. |
| 1:27.0 | In our day watch, Carvana, Carvana stock had its best day in over a month on Monday, posting a 15.46% gain. |
| 1:35.9 | The upward move was a result of a bullish note from Piper Sandler, which called the stock |
... |
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