Wall Street Breakfast

Federal Reserve holds interest rate steady in June, skipping a hike (00:28). Music publishers (SONY) (WMG) sue Twitter over alleged copyright infringement (02:57). TrueCar (TRUE) rallies after announcing major restructuring, CEO change (03:34).

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Wall Street Breakfast on Twitter

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What does Fed’s hawkish pause mean for cryptos? SA analysts weigh in
Fed Special: Rates Held, Powell's Tell And Market Impact With Chaim Siegel
Cava shares price at $22 each, resulting in ~$318M proceeds (updated)
Berkshire Hathaway utility must pay punitive damages for 2020 fires, jury says
TrueCar rallies after announcing major restructuring, CEO change
FedEx launches electric delivery vehicles in Canada through GM's BrightDrop
Estee Lauder stock rises as company teases anti-aging research
Unilever agrees to acquire Colorado-based frozen yogurt brand Yasso
FAA requires new planes to have second barrier to protect airline pilots
Catalyst watch: AI talk from Salesforce and AMD, Shell event and Oracle earnings

Chaim Siegel, leader of the Fed Trader Investing Group, joins SA's Kim Khan for a breakdown of Wednesday’s Fed decision. What the hawkish pause means for the equity rally, why the market is skeptical about Jay Powell’s rate cut pronouncement, how jobless claims remain crucial and more.

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Wall Street Breakfast on Twitter

Show notes:

Subscribe to Chaim Siegel's Fed Trader

Fed holds rates steady

Two hikes penciled into dot plot

Powell press conference highlights

Federal Reserve expected to skip June rate hike, but then what (00:40)? Google (GOOG) (GOOGL) delays European start of Bard AI chatbot over privacy concerns - report (01:57). Bud Light (BUD) no longer top-selling beer in U.S. as boycott dents sales - report (02:27).

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Wall Street Breakfast:
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Seeking Alpha Premium:
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Wall Street Breakfast on Twitter

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Nvidia crosses $1T market cap powered by the rise of AI
Netflix to debut first pop-up restaurant in LA
Anheuser-Busch InBev SA/NV: The Damage Looks Permanent
Stellantis recalls over 300,000 vehicles over coil installation issue
Crude oil rallies on China stimulus, raising hopes for stronger energy demand
Deeper Dive: Investor exodus from ESG investing
Starwood Capital considers selling more than 2,000 single-family rental homes - report
Atlantic Equities moves to sidelines on PayPal amid competition concerns
US judge temporarily blocks Microsoft from completing Activision deal
Disney delays `Avatar,' `Star Wars,' Marvel movies
Catalyst watch: AI talk from Salesforce and AMD, Shell event and Oracle earnings

CPI will give Federal Reserve new data on fight against inflation (00:28). Alphabet (GOOGL) (GOOG) to be slapped with ‘massive’ EU antitrust penalty - report (01:45). FTC files for injunction to block Microsoft (MSFT) acquisition of Activision (ATVI).(02:20)

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Wall Street Breakfast on Twitter

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China mulls stimulus measures to boost economy, central bank cuts key policy rate
Apple cut to Neutral at UBS on softer iPhone and services growth in H2
Cineplex says QTD box office revenues at about 88% of same period pre-pandemic
U.S. federal budget deficit comes in wider than expected in May
Intel in talks to be anchor investor in chip designer Arm - report
Oracle rises to all-time high as cloud growth aids earnings beat
Chegg announces workforce reduction amid AI-driven strategy shift
Catalyst watch: AI talk from Salesforce and AMD, Shell event and Oracle earnings

U.S. credit card debt nears the $1T mark: Is there a reason to worry (00:27)? Nio (NIO) cuts prices for all models, ends free battery swapping - report (01:40). UBS (UBS) closes Credit Suisse (CS) takeover, reportedly sets strict curbs for staff (02:38).

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Wall Street Breakfast:Seeking Alpha's Wall Street Breakfast brings the top news to investors every morning. Released by 8:00am ET, it's all the news you need to know for your market day.

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Wall Street Breakfast on Twitter

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Wall Street Breakfast Survey
Federal Reserve poised to skip a hike, but don't call it a pivot or a pause
OPEC output cuts will lift crude oil into the $90s this year, Goldman says
Alzheimer’s disease market expected to reach $14B globally in 2030
Glencore approaches Teck Resources over deal for coal business - WSJ
JetBlue, American try to rework Northeast Alliance after court block
Is the regional bank stock rout overdone? Insiders seem to think so
Catalyst watch: AI talk from Salesforce and AMD, Shell event and Oracle earnings
Despite Fed Tightening And Bank Collapses, It's Still An Astoundingly Loose Financial Situation

Mike Zaccardi, CFA, CMT joins James Foord for a discussion around the Fed funds market (0:30), whether we'll achieve a soft landing (2:35), and why investors should consider having an allocation towards non-U.S. stocks (18:45). This is an abridged conversation from Seeking Alpha's Investing Experts podcast.

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Wall Street Breakfast:
Seeking Alpha's Wall Street Breakfast brings the top news to investors every morning. Released by 8:00am ET, it's all the news you need to know for your market day.

Seeking Alpha Premium:
A comprehensive set of features and analysis that helps take the guesswork out of your investing decisions. Get the bottom-line on any stock or ETF with our Premium tools.

Alpha Picks:
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Wall Street Breakfast on Twitter

Show Notes:

Follow Mike Zaccardi, CFA, CMT

Subscribe to James Foord's The Pragmatic Investor

Catalyst watch for the week of June 11. Seeking Alpha Managing News Editor Kim Khan breaks down his favorite week, Fed week. He tells us how the markets will react once CPI is released (00:37). Seeking Alpha Associate News Editor Kevin Curran gives investors a preview of what to expect when Oracle Corporation (ORCL) reports earnings. (05:04) Oracle leads to another hot topic, AI. Will there be a hotter buzz word in 2023 and which companies will really reap the benefits?

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Wall Street Breakfast:
Seeking Alpha's Wall Street Breakfast brings the top news to investors every morning. Released by 8:00am ET, it's all the news you need to know for your market day.

Seeking Alpha Premium:
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Alpha Picks:
Alpha Picks gives you two top stock picks each month, sifted from Seeking Alpha’s analysis of thousands of stocks. We do the work. You reap the rewards.

Wall Street Breakfast on Twitter

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Oracle Corporation (ORCL)
Wall Street Breakfast: Smoke Alarm
Wildfires, smoke and air quality bring up the climate ETF discussion
AI looking like a 'winner-take-more' game - Goldman
Australia central bank unexpectedly hikes rates by 25 bps, more tightening likelyBank of Canada hikes rate by quarter point, resuming tighter policy
Oracle takes another AI step with Cerner-FDA partnership

Trump SPAC DWAC on watch after indictment in classified documents case (00:27). EVs made by General Motors (GM) will be able to use Tesla's (TSLA) Supercharger network (01:26). Sientra (SIEN) rockets ~75% after hours on FDA approval for tissue expander (02:40).

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Wall Street Breakfast:
Seeking Alpha's Wall Street Breakfast brings the top news to investors every morning. Released by 8:00am ET, it's all the news you need to know for your market day.

Seeking Alpha Premium:
A comprehensive set of features and analysis that helps take the guesswork out of your investing decisions. Get the bottom-line on any stock or ETF with our Premium tools.

Alpha Picks:
Alpha Picks gives you two top stock picks each month, sifted from Seeking Alpha’s analysis of thousands of stocks. We do the work. You reap the rewards.

Wall Street Breakfast on Twitter

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Meta plans launch of Twitter rival via Instagram - report
Roku names former Amazon media leader to board
TD Bank to build on its strength in U.S. core deposits, CFO says
U.S. household net worth rose in Q1 as equities value offset real estate's dip
DocuSign jumps 14% on double-digit revenue gain, boosted cash flows
Gold recoups losses as dollar, yields drop after jobless claims data
Certara slips as CFO cites negative outlook
Edgio to cut 12% of its workforce to reduce cost

Wildfires, smoke and air quality bring up the climate ETF discussion (00:35). GameStop (GME) slides after firing CEO, elevating Ryan Cohen to chairman slot (01:39). Affirm Holdings (AFRM) surges after Amazon Pay (AMZN) adds its Adaptive Checkout (04:55).

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Wall Street Breakfast:
Seeking Alpha's Wall Street Breakfast brings the top news to investors every morning. Released by 8:00am ET, it's all the news you need to know for your market day.

Seeking Alpha Premium:
A comprehensive set of features and analysis that helps take the guesswork out of your investing decisions. Get the bottom-line on any stock or ETF with our Premium tools.

Alpha Picks:
Alpha Picks gives you two top stock picks each month, sifted from Seeking Alpha’s analysis of thousands of stocks. We do the work. You reap the rewards.

Wall Street Breakfast on Twitter

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Banks may be pressured by weakening commercial property market, Yellen warns
Stocks with top pricing power across all sectors
Nasdaq posts worst day in over a month as tech rally loses steam; Dow, S&P end mixed
Floor & Decor unit acquires flooring and installation supplies distributor
Catalyst Watch: Apple's WWDC event, OPEC fallout and REITs on display

SEC versus crypto: Regulatory clarity or confusion? (00:55) Apple (AAPL) reportedly acquired AR start-up Mira as it pushes new headset vision (02:44). NYC sues Hyundai (HYMTF), Kia (KIMTF) for negligence as car thefts escalate (05:12).

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Wall Street Breakfast:
Seeking Alpha's Wall Street Breakfast brings the top news to investors every morning. Released by 8:00am ET, it's all the news you need to know for your market day.

Seeking Alpha Premium:
A comprehensive set of features and analysis that helps take the guesswork out of your investing decisions. Get the bottom-line on any stock or ETF with our Premium tools.

Alpha Picks:Alpha Picks gives you two top stock picks each month, sifted from Seeking Alpha’s analysis of thousands of stocks. We do the work. You reap the rewards.

Wall Street Breakfast on Twitter

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SEC sues Coinbase (COIN) for operating as unregistered broker; COIN slumps.
Shopify stock jumps after sale of logistics business
JOANN nosedives to all-time low after weak Q1 results
TC Energy latest Canadian oil and gas company to lay off staff - Reuters
Nasdaq, S&P, Dow eke out gains, helped by regional banks; SEC sues Coinbase
Wednesday's economic calendar
Catalyst Watch: Apple's WWDC event, OPEC fallout and REITs on display