Wall Street Breakfast September 9: Consumer Borrowing Slides More Than Expected In July
Wall Street Breakfast
Seeking Alpha
3.8 • 950 Ratings
🗓️ 9 September 2022
⏱️ 8 minutes
🧾️ Download transcript
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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 Friday, September 9th, and I'm your host Julie Morgan. |
| 0:15.9 | Our Top Stories. |
| 0:17.6 | Consumer Credit, American Eagle Outfitters, Revlon, Twitter, T-Mobile, and High-Dividend opportunities. |
| 0:26.3 | The S&P Nasdak and Dow Jones and Higher, despite Hawkish Central Bank signals, stocks |
| 0:31.9 | survived a choppy trading session to finish |
| 0:34.2 | higher on Thursday, continuing a rebound that began the previous day. Eight of the |
| 0:39.2 | 11 S&P sectors finished trading in positive territory. This included gains of more than 1.7% in |
| 0:46.1 | financials and health care. Communication services, consumer staples, and utilities posted fractional |
| 0:52.3 | declines. |
| 0:53.2 | Discussions about interest rates dominated the session. |
| 0:56.2 | The ECB raised its key rate by 75 basis points, |
| 1:00.1 | which was largely expected by the market. |
| 1:02.6 | In the bond market, the 10-year Treasury yield advanced 5 basis points to 3.31 percent, |
| 1:08.5 | and the 2-year yield climbed 5 basis points to 3.5%. Turning to economic news, weekly jobless claims are still showing |
| 1:16.7 | strength falling unexpectedly to 222,000. |
| 1:20.4 | Meanwhile, Jerome Powell said Thursday that the U.S US Central Bank will raise rates to tackle inflation, |
| 1:26.1 | quote, until the job is done. For the upcoming two-day Fed meeting on the 20th and 21st, |
| 1:31.7 | futures are now pricing in an 82% chance that markets will see a 75 basis point height. |
| 1:38.0 | In the earnings spotlight today, Kroger. |
| 1:42.0 | And our day watch is a notable new low. American Eagle Outfiters slumped to a new |
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