Wall Street Breakfast September 7: Blackrock's Larry Fink Says Government Spending, Immigration, Remote Work Fuel Inflation

Wall Street Breakfast

Seeking Alpha

Business, Investing, Business News, News

3.8 • 950 Ratings

🗓️ 7 September 2022

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

BlackRock's Larry Fink says government spending, remote work fuel inflation. Apple expected to unveil new iPhones, Apple Watches, AirPods at September event. Good news may be bad news for stocks as September losing streak continues. Catch today’s WSB article seekingalpha.com/wsb. Invest Successfully With Alpha Picks https://seekingalpha.com/alpha-picks/subscribe.

Transcript

Click on a timestamp to play from that location

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 7th,
0:14.0	and I'm your host Julie Morgan,
0:15.8	our top stories.
0:17.2	Inflation, Apple, Jewel, Metachenect,
0:21.2	Instagram, more Apple, and Avaya.
0:25.6	With Wall Street getting back to work after the three-day holiday weekend, stocks
0:29.3	finish lower again on Tuesday, adding to the weakness seen last week.
0:33.7	The prospect of higher interest rates has weighed on the major averages lately, with the
0:37.8	NASDAQ recording its seventh consecutive day of losses.
0:41.2	Tuesday marks six out of seven days of losses for the
0:44.1	S&P 500 and the Dow. Seven out of the 11 S&P sectors finished lower.
0:49.1	Communication services and energy led the retreat, falling by more than 1%. Real estate was among
0:55.7	the segments that finished higher. Turning to the bond market, the 10-year
0:59.6	Treasury yield rose 15 bases points to 3.34 percent and the 2 year yield climbed 10
1:05.8	basis points to 3.50 percent. In the earnings spotlight today, Neo, Game Stop, Casey's General Stores, American Eagle Outfitters, and Academy Sports and Outdoors.
1:20.0	In Our Day Watch is a standout decliner.
1:23.4	Digital World Acquisition, the SPAC slated to take Donald Trump's media company public, dropped 11%
1:29.8	following reports that the firm does not have enough shareholder votes to extend its deal
1:34.1	with the former president's social media firm. Shares drop $2.86 to close at
1:39.8	$22.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Seeking Alpha, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Seeking Alpha and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.