Wall Street Breakfast

OpenAI, the maker of the popular ChatGPT chatbot, is under investigation by the U.S. government over consumer protection risks. Wholesale inflation comes in lower than expected, helping stocks again. But hedge funds are turning away from Wall Street.


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Airline stocks fly high after strong results from Delta Air Lines
Hollywood set for first double strike in 60 years as talks between actors, studios fail
Initial jobless claims unexpectedly fall in past week, continuing claims rise
Gold, silver rally to highest since mid-June after more tame U.S. inflation data
PepsiCo rallies after strong organic sales power double earnings beat
Plug Power wins order for 'largest announced project' in Europe oil and gas

Why did Palo Alto Networks (PANW) stock drop? Blame Microsoft (MSFT). (00:26) Medalist (MDRR) to suspend dividends for at least the next six months. (01:38) Elon Musk unveils xAI to 'understand reality' and 'true nature of universe.’ (02:21)

Transcripts available on Seeking Alpha

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Bob Iger to continue as Disney CEO until end of 2026
Sarcos to terminate 25% of its workforce, withdraws full-year revenue guidance
Chips rise after Nvidia $50M AI investment, Broadcom deal approval
FTC appeals judge's OK for $69B Microsoft-Activision deal (updated)
Catalyst Watch: CPI, major bank earnings, Amazon Prime Day and CAVA ratings

The June CPI report has stocks rallying, yields falling and betting the Fed is one and done. Oil continues to make gains. But this chart is flashing a major sell signal.

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This Morgan Stanley chart is flashing the biggest stock sell signal in recent memory
Food inflation is moderating - watch these stocks
Airline fares fall 19% in June from a year ago
Activision drops amid report that UK may need to do a new probe of Microsoft deal
Microsoft gets 'trophy moment' with Activision court win: Wedbush
ZIM Integrated Shipping cuts full-year guidance, weighed by weak freight rates
Domino's Pizza soars after striking global delivery deal with Uber Technologies
Cathie Wood's ARK Innovation takes some profit on Coinbase stock surge

June consumer price index expected to show inflation cooling further — or will it? (00:29) EU expands probe into suicide risk linked to weight loss drugs. (02:08) FTC reportedly leaning toward quick appeal of Microsoft-Activision (MSFT) (ATVI) loss. (03:02)

Transcripts available on Seeking Alpha

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Coty rises as Kim Kardashian said to want SKKN stake back
Disney reportedly discussing strategic options for India business
Shift to terminate 34% of workforce, end investment into dealer marketplace business
Matterport terminates 30% of workforce to accelerate path to profitability
Taiwan Semi eyes 2024 construction of second Japanese chip plant
Tower Semiconductor gains amid report Intel CEO visiting China
Catalyst Watch: CPI, major bank earnings, Amazon Prime Day and CAVA ratings

The Nasdaq 100 faces an extraordinary rebalancing for just the third time and Wells Fargo spies some near-term trades. BofA gets a hefty fine from the CFPB. Did SVB's collapse delay a recession?

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Wells Fargo highlights Nasdaq 100 rebalance trade opportunities
Goldman's top four themes for earnings season (yes, one is AI)
Microsoft said to lay off sales, customer support staff as new fiscal year begins
Toyota slides after report it will focus on hydrogen-powered vehicles in Europe, China
JPMorgan upgraded to Buy at Jefferies; Truist, Zions, Hancock Whitney cut to Hold
Wynn Resorts is tipped by JPMorgan for second-half rally
JetBlue falls after Evercore ISI downgrades due to risk a Spirit acquisition drags on results

Rite Aid (RAD) dips amid report it's considering bankruptcy to address opioid liabilities (00:28). Berkshire Hathaway (BRK.A) (BRK.B) to buy Dominion's (D) 50% stake in Cove Point LNG in $3.3B deal (01:54). Iovance Biotherapeutics (IOVA) dips on pricing $150M offering.(02:49)

Transcripts available on Seeking Alpha

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Rite Aid May Be Forced Into Ch.11 Bankruptcy To Resolve Opioid Liabilities
Apple launches online store on Chinese social media platform WeChat - report
Meta's Threads may bring 5% revenue upside as it grows to Twitter size: Evercore
BP reaches $10.75M settlement in U.S. gas market manipulation case
Payoneer Global plans to lay off 9% of headcount
Fortinet, Check Point, CrowdStrike have 'favorable setups' going into Q2: MS
DraftKings jumps to new 52-week high with investors confident on the profitability timeline
Catalyst Watch: CPI, major bank earnings, Amazon Prime Day and CAVA ratings

Carl Icahn reportedly severs personal loans from Icahn Enterprises (IEP). SVB (SIVBQ) sues the FTC to recover $1.9 billion. Automakers, union heading for a tough battle.

You can read a transcript of this episode at SeekingAlpha.

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Top 11 technical picks for the second half of 2023
Goldman Sachs sees rays of hope in underperforming health sector
Netflix rises as Morgan Stanley boosts estimates on higher expectations
Charles Schwab riased to Outperform at JMP as cash sorting headwinds abate
Helen of Troy EPS of $1.94 beats by $0.26

Alibaba (BABA), Tencent (TCEHY) in focus as China unwinds tech crackdown (00:28). New M&A rules likely to delay deals by months, add significant costs (01:46). China's consumer inflation unexpectedly flat in June, producer prices fall further (03:19).

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Record-breaking U.S. oil production helps thwart Saudi efforts to drive up prices
Goldman Sachs sees rays of hope in underperforming health sector
GridBeyond buys Veritone's energy business
Acumen, BridgeBio, Arcus among BTIG's top healthcare picks for 2H 2023
Catalyst Watch: CPI, major bank earnings, Amazon Prime Day and CAVA ratings

Matthew Tuttle and Rob Isbitts dissect today's stock market and its problematic index construction (1:00), T-Bill rates and yield curve creep (8:00). This is an abridged conversation from Seeking Alpha's Investing Experts podcast.

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The Magnificent Seven Or The Mediocre Seven?
SPY: Recent Gains Distract From Weakening Long-Term Price Trend
S&P 500: Buy Summer, Sell Autumn Scenario Favors IVV, XYLG
Replace Some SPY With SHY: 2-Year Treasuries Look Better Than The S&P 500
Forward-Looking Due Diligence

Transcripts available on Seeking Alpha

Wall Street Breakfast on Twitter

Catalyst watch for the week of July 9. Seeking Alpha Managing News Editor Kim Khan on what investors can expect from CPI midweek and major bank earnings at the end of the week (01:45) . Hot topics: What key issues will be in focus for the banks? (03:09) U.S. or China, who stands to benefit as new curbs are implemented? (04:16)

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Catalyst Watch: CPI, major bank earnings, Amazon Prime Day and CAVA ratings
Rates Spark: The Burning Question Is Whether Payrolls Agree With The ADP
KBWB: Bullish On Banks Before Earnings Season Begins
KBWB: Stress Test Cleared But Not Out Of The Woods Yet
Yellen visit to China aims to defuse tensions with Beijing
Time is on China's side in the chip war - here's the Jefferies trade
Why Threads Is Great For Meta