Wall Street Breakfast September 21: Another Super-Sized Rate Hike

Wall Street Breakfast

Seeking Alpha

Business, Investing, Business News, News

3.8 • 950 Ratings

🗓️ 21 September 2022

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

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Summary

Federal Reserve expected to make another super-sized rate hike on Wednesday. Oil spikes as Putin orders 'partial mobilization' in Ukraine. S&P, Dow, Nasdaq futures cautious, rates dip as market readies for 75 bps from Fed. Catch today’s WSB article seekingalpha.com/wsb. Start Your Free Trial of Seeking Alpha Premium - https://bit.ly/3uX5TDY.

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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.
0:11.3	Good morning. Today is Wednesday, September 21st, and I'm your host Julie Morgan.
0:16.5	Our top stories.
0:17.8	The FOMC, Russia, Beyond Meet, Ford, American Airlines, Gap, Winter Mute, YouTube, and Meta.
0:28.6	The stock market finished firmly lower on Tuesday as the FOMC kicked off its two-day meeting on interest rates.
0:35.2	All three major U.S. stock averages saw some relief during the power hour prior to the market's
0:40.5	close, but still ended on a down note with the NASDAQ composite and the Dow each
0:45.1	off by about 1% and the S&P 500 giving up 1.1% on the day.
0:50.9	All 11 S&P sectors fell with real estate the weakest amid the rise in
0:55.2	yields. Information technology saw the least damage. The two-year Treasury yield is knocking on the door of 4%. The
1:02.1	two-year rose fractionally to 3.95% and earlier hit its highest
1:07.3	level since 2007. The 10-year yield rose to 3.56%. On On the economic calendar, August housing starts increased more than
1:16.4	anticipated to 1.57 million compared to the forecast for 1.45 million. At the same time building permits dipped to 1.45 million.
1:22.6	At the same time, building permits dipped to 1.517 million
1:26.8	versus the consensus figure of 1.61 million.
1:31.3	In the earnings spotlight today, General Mills and Trip.com.
1:35.0	In our day watch, Beyond Meat fell more than 6% Tuesday,
1:41.0	this after the company suspended its chief operating officer Doug Ramsey.
1:45.0	The suspension comes after Ramsey was arrested last weekend for terroristic
1:49.4	threatening and third-degree battery. The incident stemmed from an altercation in an Arkansas parking
1:55.0	garage after a college football game. Ramsey also allegedly bit a man's nose during the altercation.
	...

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