3.8 • 950 Ratings
🗓️ 23 September 2022
⏱️ 7 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 Friday, September 23rd, and I'm your host Julie Morgan. |
0:15.9 | Our top stories, Boeing, EVs, Cano Health, the UK, Kohl's, FedEx, and Royal Caribbean. |
0:25.0 | The major U.S. equity averages finished Thursday with further declines as investors continue to digest the implications of the latest Federal Reserve decision. |
0:34.0 | The Dow Jones attempted to recover from its early slide and showed gains into the final moments |
0:38.6 | of trading. |
0:39.6 | However, a late dip left the index lower at the close. |
0:42.8 | Meanwhile, the S&P 500 and the NASDAQ closed solidly in the red. |
0:47.3 | The S&P 500 has finished lower in five of the past six sessions, |
0:51.4 | recording its lowest closed since mid-June. |
0:54.2 | Nine of the 11 S&P sectors ended in the red. |
0:57.1 | Consumer discretionary led the retreat dropping 2.2%. |
1:01.1 | Financials, industrials, and materials all fell more than 1%. Communication services and |
1:06.9 | health care posted mild gains. The 10-year Treasury yield gained 19 bases points to 3.70 percent, and the two-year yield advanced 12 basis points to 4.11 percent. |
1:19.2 | On an economic front, initial jobless claims figures rose by 5,000 to reach 213,000. |
1:25.6 | This compared to a consensus forecast of 220,000. |
1:30.2 | In our day watch is Cano Health. |
1:32.3 | Cano was up 32% Thursday after reports that Humana, |
1:35.8 | CVS Health, and other possible buyers are circling the primary care provider. |
1:40.9 | According to the Wall Street Journal, a deal for Cano Health |
1:43.7 | could be struck in the next several weeks. Pre-market Cano is up nearly 5%. |
... |
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