Wall Street Breakfast October : Earnings Season Kicks Off With Gloomy Expectations
Earnings season kicks off with gloomy expectations. Bank of England expands its bond-market support program. Mortgage originations slide more as rates rise, season changes. Catch todays WSB article https://seekingalpha.com/wsb. Invest Successfully With Alpha Picks https://seekingalpha.com/alpha-picks/subscribe.
Wall Street Breakfast October : Nonfarm Payrolls Expected To Edge Down In September Jobs Report Wall Street Breakfast
Nonfarm payrolls expected to edge down in September jobs report. Cannabis multi-state operators soar as Biden calls for marijuana federal scheduling review. Judge pauses Twitter-Musk trial to allow for closing. Catch todays WSB article https://seekingalpha.com/wsb. Invest Successfully With Alpha Picks https://seekingalpha.com/alpha-picks/subscribe.
Wall Street Breakfast October : Musk: Buying Twitter Speeds Up His Plans For ‘everything App’
Musk: Buying Twitter speeds up his plans for ‘everything app’. Amazon freezes corporate hiring in retail segment – NYT. JUUL Labs said to prepare for potential Chapter 11 filing – report. Catch todays WSB article seekingalpha.com/wsb. Invest Successfully With Alpha Picks https://seekingalpha.com/alpha-picks/subscribe.
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Wall Street Breakfast: All
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Today’s Markets
In Asia, Japan -0.4%. Hong Kong flat. China -0.8%. India closed.In Europe, at midday, London -1.2%. Paris -0.8%. Frankfurt -0.5%.Futures at 6:30, Dow flat. S& P +0.2%. Nasdaq +0.6%. Crude -3.3% to $88.66. Gold -0.8% to $1723.10. Bitcoin -0.6% to $20,294.Ten-year Treasury Yield +3 bps to 3.14%
Today’s Economic Calendar
Wall Street Breakfast: The New Volcker
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Today’s Markets
In Asia, Japan -2.7%. Hong Kong -0.7%. China +0.1%. India -1.5%.In Europe, at midday, London closed. Paris -1.9%. Frankfurt -1.6%.Futures at 6:30, Dow -0.9%. S& P -1.1%. Nasdaq -1.3%. Crude +1% to $93.97. Gold -0.9% to $1733.80. Bitcoin -1% to $19,807.Ten-year Treasury Yield +9 bps to 3.12%
Today’s Economic Calendar
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Wall Street Breakfast: The Merge
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Railway workers and companies have finally come to a tentative labor agreement that would avert a strike, which was set to go into motion shortly after midnight. The Association of American Railroads said the deal would give rail employees a 24% wage increase during the five-year period from 2020 through 2024, as well as an immediate payout that averages around $11,000. While the contract covers around 60,000 workers, it still needs to be ratified by the holdout unions, and a sick-leave policy needs to be ironed out. Quote: “The tentative agreement reached tonight is an important win for our economy and the American people,” President Biden wrote in a statement. “It is a win for tens of thousands of rail workers who worked tirelessly through the pandemic to ensure that America’s families and communities got deliveries of what have kept us going during these difficult years.” The last-minute deal averts a strike that could have halted shipments of key goods, and disrupted the flow of commodities across the country. About 40% of long-haul trade is transported by rail, and a strike could have idled more than 7,000 trains, while costing the U.S. economy an estimated $2B per day. Premarket: Canadian National Railway +2%, CSX Corporation +2.5%, Union Pacific +4% and Norfolk Southern +2.5%.
Wall Street Breakfast: Goodbye Tina
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Sterling dropped to its lowest level against the U.S. dollar in history Monday before bouncing back off the lows of the session. The pound fell to $1.0350, sliding below $1.04 for the first time ever, before buyers moved in. The cable cross rate is now around $1.07, still -1.3%. The pound is continuing its selloff from Friday after new Chancellor of the Exchequer Kwasi Kwarteng unveiled a budget of tax cuts and spending that worried traders.”Cable’s ‘flash crash’ to a record low 1.0350 overnight came as a surprise, however the direction of travel did not, given the dim view that the market has taken on UK assets since Chancellor Kwarteng’s fiscal announcements on Friday,” Michael Brown, head of market intelligence at Caxton said. “Clearly, investors are becoming increasingly concerned about the unsustainable path that UK borrowing is now on, and the worsening twin deficit problem that the UK will face.”The U.K. 2-year gilt yield is soaring 55 basis points to 4.47%. The 10-year yield topped 4% for the first time since 2010.
Today’s Market
Today’s Economic Calendar
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Wall Street Breakfast October : Nonfarm Payrolls Expected To Edge Down In September Jobs Report
Nonfarm payrolls expected to edge down in September jobs report. Cannabis multi-state operators soar as Biden calls for marijuana federal scheduling review. Judge pauses Twitter-Musk trial to allow for closing. Catch todays WSB article https://seekingalpha.com/wsb. Invest Successfully With Alpha Picks https://seekingalpha.com/alpha-picks/subscribe.
Wall Street Breakfast: Far Out
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Today’s Markets
In Asia, Japan -0.7%. Hong Kong -0.8%. China +0.1%. India -0.3%.In Europe, at midday, London -0.7%. Paris -0.5%. Frankfurt -0.5%.Futures at 6:30, Dow flat. S& P +0.1%. Nasdaq +0.2%. Crude +0.5% to $87.28. Gold +0.2% to $1715.90. Bitcoin -6.1% to $18,748.Ten-year Treasury Yield -2 bps to 3.32%
What else is happening…
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Wall Street Breakfast: Propping Up Prices
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Today’s Markets
In Asia, Japan +1%. Hong Kong -0.8%. China -0.6%. India -1.1%.In Europe, at midday, London -0.8%. Paris -1.1%. Frankfurt -0.8%.Futures at 6:30, Dow +0.3%. S& P flat. Nasdaq -0.3%. Crude +4.7% to $83.20. Gold -0.2% to $1668.10. Bitcoin -0.6% to $19,141.Ten-year Treasury Yield -2 bps to 3.78%
Today’s Economic Calendar
Wall Street Breakfast: What Moved Markets
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The S& P 500 posted its worst weekly performance since mid-June, slumping 4.78% for the five-day session. The losses came on the back of a solid 3.65% gain last week. The selling pressure started on Tuesday after a hotter-than-anticipated consumer price inflation report, with the headline print for August rising 8.3% from a year ago. The sell-off continued after FedEx pulled its full-year guidance and warned it will implement cost-cutting initiatives to contend with soft global shipment volumes due to what it sees as a significantly worsening global economy. On tap for next week, the Federal Reserveâs policy-making committee meets to set interest rate policy and Nvidia holds a key conference. See a preview of other key events in Seeking Alphaâs Catalyst Watch.
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Wall Street Breakfast: Earnings Gloom
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Banks led by Morgan Stanley may lose about $500M in their effort to fund Elon Musk’s $44 billion purchase of Twitter as the debt markets have seized in recent months. Lenders including Morgan Stanley , Bank of America , Barclays and Mitsubishi UFJ originally committed $13B of debt financing for the transaction.Those banks may now lose about $500M if they had to sell the debt now, according to Bloomberg calculations. They originally agreed to fund the purchase even if they couldn’t sell the debt and now it’s unlikely investors would want to buy the debt in the current markets.
Tesla sold 83,135 China-made vehicles in wholesale in September, smashing its record of monthly sales in China, according to a report released Sunday by the China Passenger Car Association . The number marks an 8% increase from August and outpaced the more than 5% month-over-month growth of all wholesale electric vehicle sales in China, according to CPCA data.It set a record for Teslaââ¬â¢s Shanghai factory since production began in December 2019, and topped the prior sales record of 78,906 in June, as the U.S. carmaker continues to invest in China production.
Today’s Markets
Today’s Economic Calendar
Wall Street Breakfast: Risk Of Armageddon
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Today’s Markets
In Asia, Japan -0.7%. Hong Kong -1.5%. China closed. India -0.1%.In Europe, at midday, London +0.1%. Paris flat. Frankfurt -0.1%.Futures at 6:30, Dow +0.1%. S& P -0.2%. Nasdaq -0.4%. Crude +1.1% to $89.38. Gold -0.3% to $1716. Bitcoin -0.9% to $19,957.Ten-year Treasury Yield +3 bps to 3.85%
Today’s Economic Calendar
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Wall Street Breakfast: Shock Waves
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Today’s Markets
In Asia, Japan closed. Hong Kong -1%. China -0.4%. India +0.5%.In Europe, at midday, London closed. Paris -1.4%. Frankfurt -0.7%.Futures at 6:30, Dow -0.9%. S& P -1%. Nasdaq -1.1%. Crude -1.8% to $83.26. Gold -0.7% to $1672.10. Bitcoin -6% to $18,744.Ten-year Treasury Yield +5 bps to 3.49%
Today’s Economic Calendar
Wall Street Breakfast: On Recession’s Doorstep
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Today’s Markets
In Asia, Japan -2.8%. Hong Kong -2.5%. China -0.8%. India -0.4%.In Europe, at midday, London -0.9%. Paris -0.3%. Frankfurt -0.6%.Futures at 6:30, Dow +0.3%. S& P +0.5%. Nasdaq +0.5%. Crude +0.2% to $87.45. Gold -0.2% to $1714. Bitcoin -9.7% to $20,357.Ten-year Treasury Yield +2 bps to 3.44%
Today’s Economic Calendar
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Wall Street Breakfast: 50 Or 75
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U.S. natural gas futures ended Tuesday’s session at 14-year highs, lifted partly by soaring natural gas prices in Europe that have climbed in recent days to their highest levels since Russia’s invasion of Ukraine, and just shy of all-time highs.Front-month Nymex natural gas for September delivery settled +6.9% to $9.329/MMBtu, the best closing level since August 2008 gas was trading at ~$66/MMBtu in Europe and a record $57 in Asia.Other factors contributing to gains in U.S. natural gas include a heat wave in California, higher air conditioning demand than previously expected, forecasts for more hot weather, and technical and option trading.
A profit guidance lift from Walmart helped the retail sector outperform in early trading on Tuesday.While the retail giant issued a profit warning last month due to concerns over consumer spending, WMT execs said with its earnings report that it was seeing a trade-down effect with shoppers at the higher income levels buying more groceries from Walmart. Back-to-school sales were also noted to be off to a strong start and the early outlook for the holiday season was positive.Morgan Stanley said the retail giant seemed to show that inventory and markdown issues were under control and sees more upside than downside for the near term.
To infinity and Bed Bath & Beyond
Wall Street Breakfast: Rates Are Rising
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Today’s Markets
In Asia, Japan +0.4%. Hong Kong +1.2%. China +0.2%. India +1%.In Europe, at midday, London -0.2%. Paris -0.9%. Frankfurt -0.7%.Futures at 6:30, Dow -0.3%. S& P -0.5%. Nasdaq -0.6%. Crude -0.2% to $85.22. Gold -0.2% to $1675.50. Bitcoin +4.1% to $19,221.Ten-year Treasury Yield +5 bps to 3.54%
Today’s Economic Calendar
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Wall Street Breakfast: Rough Week
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Today’s Markets
In Asia, Japan -1.1%. Hong Kong -0.9%. China -2.3%. India -1.8%.In Europe, at midday, London +0.2%. Paris -1.1%. Frankfurt -1.4%.Futures at 6:30, Dow -0.8%. S& P -0.9%. Nasdaq -1.1%. Crude -0.3% to $84.87. Gold -0.4% to $1670.50. Bitcoin -1.7% to $19,808.Ten-year Treasury Yield +2 bps to 3.48%
Today’s Economic Calendar
Wall Street Breakfast October : Us Oil Producers Are Seen Staying Cautious Despite Opec+ Supply Cut
U.S. oil producers are seen staying cautious despite OPEC+ supply cut. Target rolls out Deal Days before Amazon’s holiday discounts. Biden to promote IBM’s $20B investment in Hudson Valley over next decade.Catch todays WSB article https://seekingalpha.com/wsb. Invest Successfully With Alpha Picks https://seekingalpha.com/alpha-picks/subscribe.
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Wsb’s Weekend Bite: 2 Stocks For A Long Term Portfolio With Jeremy Kokemor
In this episode, we’re joined by Jeremy Kokemor, Founder of Right Tail Capital, who pitches 2 stocks that he believes are great additions to your long-term portfolio. Plus, Jerry Kronenberg brings this week’s Catalyst Watch and a recap of last weeks Twitter poll.Sign Up For The Free Earnings Webinar Watch Stock Market Live – Breaking Down 3M Stock
Wall Street Breakfast October : New York Fed’s John Williams Peels Back The Inflation Onion
Rally set to continue Nasdaq, S& P, Dow futures jump as 2-year yield tests 4%. Stock market bottom talk gets louder, but Fed pivot hopes look more pie in the sky. New York Fed’s John Williams peels back the inflation onion. Catch todays WSB article seekingalpha.com/wsb. Start Your Free Trial of Seeking Alpha Premium – https://bit.ly/3uX5TDY.
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Wall Street Breakfast: I Am Optimus
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Today’s Markets
In Asia, Japan -1.8%. Hong Kong +0.3%. China -0.6%. India +1.8%.In Europe, at midday, London +0.2%. Paris +0.6%. Frankfurt +0.3%.Futures at 6:30, Dow +0.3%. S& P +0.4%. Nasdaq +0.4%. Crude +0.6% to $81.72. Gold +0.3% to $1673.80. Bitcoin -0.1% to $19,498.Ten-year Treasury Yield -5 bps to 3.69%
Today’s Economic Calendar
Wall Street Breakfast: Is This The Bottom
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A bear market can be brutal for investors. The more than 20% decline in stock prices has many investment portfolios well off their recent
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- CNN – Julia Horowitz 3h
London CNN Business The Bank of England announced Monday that it would provide extra support to UK markets, beefing up its efforts to ensure financial stability after the governments plan to slash taxes while boosting borrowing stoked panic. The central bank said that it was ready to buy up to £10
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Wall Street Breakfast: The Week Ahead
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Economic reports in the week ahead
Central bank meetings are front and center globally in the week ahead with the with the Reserve Bank of Australia, European Central Bank and the Bank of Canada all ready to tackle inflation. The ECB is expected to hike rates 75 basis points after recent remarks from members turned more hawkish, although there is still some speculation of a 50-point increase. For Federal Reserve watchers, the Beige Book report will be released and Jerome Powell will make a notable conference appearance. In the energy market, the OPEC+ meeting will take place amid more talk about output cuts with some producer nations forecasting near-term oil surpluses. The earnings calendar slows down for the holiday-shortened week, although the reports from GameStop , DocuSign , and Kroger are likely to create some buzz. Meanwhile, Apple’s ‘Far Out’ event is expected to reveal the next generation of iPhones.
Earnings spotlight: Tuesday, September 6 – Gitlab , Guidewire Software , and Coupa Software .Earnings spotlight: Wednesday, September 7 – Nio , GameStop , Casey’s General Stores , American Eagle Outfitters , and Academy Sports And Outdoors .Earnings spotlight: Thursday, September 8 – Zscaler , Docusign , and SMith & Wesson Brands .Earnings spotlight: Friday, September 9 – Kroger .
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