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Wall Street Breakfast

WSB's Weekend Bite Week Ending April 15: Sell Tesla

Wall Street Breakfast

Seeking Alpha

Business, Investing, Business News, News

3.8950 Ratings

🗓️ 16 April 2022

⏱️ 25 minutes

🧾️ Download transcript

Summary

ETFs in the energy and cyber sectors, why Tesla is a sell after Musk's attempt to buy Twitter and whether we're in a risk on or risk off market. With Michelle Culver, VP Portfolio Strategist at Global X, and David Trainer, CEO of New Constructs.

Transcript

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0:00.0

Hey, welcome to the weekend bite presented by the Wall Street breakfast.

0:03.2

I'm Daniel Snyder and what a week for new fresh data,

0:06.8

CPI, PPI, and bank earnings.

0:09.6

Here with a deeper look is Seeking Alpha's Kim Khan.

0:13.0

Hey Daniel, yeah, it's been a really busy week and looking at the inflation numbers,

0:18.0

things started out pretty well even though the headline

0:21.0

CPI came in hotter than expected,

0:23.6

a monthly 0.3% rise in the core inflation

0:27.6

was something that people thought the Fed could work with.

0:29.8

That was encouraging.

0:31.2

Rates fell.

0:32.4

Many had PPI, which came in hotter than expected on both

0:36.3

Atlanta core. That was a little more troublesome and rates started to creep up

0:41.0

again and now today you've got just a big move in a thinly traded bond market with the bond market closing early today

0:48.0

rates are shooting back up and got the 10 year up around 2.8% again. So a bit of a round trip there. Also I've heard a lot from the big banks.

0:56.5

Generally, well received, especially today is with Goldman and Morgan Stanley, a bit of conservative

1:04.0

J.P. Morgan, but overall, for these banks, you're seeing,

1:07.2

you know, good numbers on equities trading, good numbers on bond

1:11.0

trading, a bit of concern on the investment banking revenue level but also Wells Fargo's

1:16.7

miss was a bit of a concern for banks more leverage to the consumer and so that's going to be something

1:21.6

people are watching.

1:22.6

Yeah, sounds like we're getting ready for a volatile earnings season going from

...

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