Wall Street Breakfast

Consumers should get ready for major sales in the retail sector with Amazon (AMZN) Prime Day, alongside competitor events. All eyes are on inflation this week, with consumer price and producer price reports both due in. Delta Air Lines (DAL) kicks off the earnings season for the airline sector.

We are joined by Samuel Smith (High Yield Investor,) and William Huston (CIO, Bay Street Capital Holdings) to discuss investing in high-yielding dividend stocks, and why William is favoring the luxury real estate market in this environment.

June jobs report will be parsed for signs of labor market cooling. Twitter drops off 7.5% on report Musk's purchase bid in jeopardy. Spirit Airlines postpones Frontier holder vote as talks progress with JetBlue. Former Japan Prime Minister Shinzo Abe shot and killed. Catch today’s WSB article here. 

U.S. weighs capping Russian oil at $40-$60 to cut war financing - Bloomberg. Boris Johnson to resign as UK prime minister. Federal Reserve officials saw potential to be more hawkish if inflation persists. Catch today’s WSB article here.

OPEC Secretary General dies: What does that mean for oil and the alliance? Rapid rise in mortgage rates weigh on homebuyer activity. Embattled Crypto broker Voyager Digital files for Chapter 11 bankruptcy. FOMC minutes to provide view into decision-making process on 75-bp hike. Catch today’s WSB article here.

Tariff talk: White House seeks to ease inflation while keeping leverage on China. Bezos spars with White House over fuel economics and inflation. Euro hits 20-year low against the dollar as growth worries increase. S&P, Nasdaq, Dow Jones futures dip as yield curve inverts again. Catch today’s WSB article here.

The U.S. jobs report for June is expected to show promising figures, nearly back at pre-pandemic levels. Denim giants Levi Strauss (LEVI) will report earnings, following a sharp drop in share prices. And, even with less content on the big screen, cinemas are full and the summer 2022 box office continues to surpass expectations.

This week we're joined by Michael A. Gayed, CFA., Founder of The Lead-Lag Report. We discuss the macro environment, is it the perfect time to go risk-on, and why Michael doesn't see cash as an asset class.  

Stock futures slide after S&P 500 notches worst first half since 1970. Coinbase is selling geo-location data to U.S. immigration enforcement agency. McConnell looks to block $52B in chips funding over spending packages. White House official says stablecoin legislation may become law by end-2022: CoinDesk. Catch today’s WSB article here.

Turbulent oil, gas markets to persist 'for some time to come,' Shell CEO says. Freddie Mac to accept rent payment history in mortgage application process. Grayscale sues SEC after its spot Bitcoin ETF is rejected. Catch today’s WSB article here.

EU endorses push to end internal combustion engine by 2035. PG&E asks for more time to apply for funds to keep nuclear plant open. NATO set to expand as Turkey backs membership for Sweden, Finland. FTC sues Walmart for facilitating fraud that 'fleeced customers' out of millions. Catch today’s WSB article here.

G7 leaders explore price caps on Russian oil and gas. Morgan Stanley, Bank of America raise dividends; JPMorgan, Citigroup dividend unchanged. Goldman, Wells Fargo to boost Q3 dividends after 2022 stress test. Wall Street bank layoffs expected after capital markets drop off - CNBC. Ernst & Young fined $100M by the SEC over ethics exam cheating. Catch today’s WSB article here.

Russia defaults on foreign debt for the first time since 1918. Four G7 nations to impose ban on gold bullion imports from Russia. Goldman Sachs said looking to raise $2B to buy Celsius Network assets - report. Biden unveils $600B G7 infrastructure plan to counter China. Catch today’s WSB article here.

All eyes are on Nike (NKE) due to release earnings this week, after overcoming grim expectations in the previous quarter. Semiconductor company Micron Technology (MU) will report third quarter results, after seeing shares fall sharply since the start of June. The most influential blockchain & crypto event in Europe is taking place after a COVID hiatus.

Michael Boyd from Energy Investing Authority joins us this week to discuss all things oil. Biden's 4-point plan, will gasoline prices come down, and two picks that he finds favorable that are ready to refine profits for shareholders. 

Russell rebalance may see highest-volume trading session of the year. Tesla partners with PG&E on virtual power plant in California. All 34 banks in Federal Reserve's stress test would weather severe recession. Granholm and the oil industry collaborate -- positive outcome for refiners. Catch today’s WSB article here.

Tesla Berlin and Austin factories losing billions of dollars, Elon Musk says. Meta Platforms CEO: Explains Meta’s strategy to create shareholder value. U.S. refiners to urge Biden administration not to ban fuel exports - Reuters. Fed publishes bank stress tests as recession talk looms in background. Corporations largely stay quiet ahead of delicate Supreme Court rulings. Catch today’s WSB article here.

Crude oil resumes slide amid growth worries; energy stocks back under pressure. DOJ settles with Meta in landmark suit over housing discrimination. Rally fizzles as stock futures slide before Powell testimony; Bitcoin under $20K. Senators advance bipartisan gun violence bill, passage may come this week. Catch today’s WSB article here.

Biden nears decision on federal gas tax holiday. Jetblue boosts offer for Spirit Airlines to $33.50/share. Former employees sue Elon Musk's Tesla over mass layoff- Reuters. Catch today’s WSB article here.

This week we're joined by Nick Bunker, Head of Research - North America at Indeed.com, to discuss unemployment numbers and projections, wage growth, and if there are more layoffs to come.