{"id":25403,"date":"2023-06-21T07:13:59","date_gmt":"2023-06-21T11:13:59","guid":{"rendered":"https:\/\/ifintechworld.com\/news\/wall-street-breakfast-podcast-powell-faces-questions\/"},"modified":"2023-06-21T07:14:01","modified_gmt":"2023-06-21T11:14:01","slug":"wall-street-breakfast-podcast-powell-faces-questions","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=25403","title":{"rendered":"Wall Street Breakfast Podcast: Powell Faces Questions"},"content":{"rendered":"<div data-test-id=\"content-container\">\n<p><figure class=\"getty-figure\" data-type=\"getty-image\"><picture>  <\/picture><figcaption> <\/figcaption><\/figure>\n<\/p>\n<p><strong>Listen on the go! Subscribe to Wall Street Breakfast on Apple Podcasts and Spotify<\/strong><\/p>\n<div class=\"pcast hidden-print\">\n<div class=\"pcast__section-1\">\n    <img decoding=\"async\" alt=\"\" class=\"pcast__top-img pcast__marketing\" src=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/05\/podcast_series_header.png\">\n  <\/div>\n<p><iframe loading=\"lazy\" src=\"https:\/\/widget.spreaker.com\/player?episode_id=54564628&amp;theme=light&amp;playlist=show&amp;playlist-continuous=false&amp;chapters-image=true&amp;episode_image_position=right&amp;hide-logo=true&amp;hide-likes=true&amp;hide-comments=true&amp;hide-sharing=false&amp;hide-download=true&amp;color=ff6900\" width=\"100%\" height=\"350px\" frameborder=\"0\" sap-id=\"4\"><\/iframe><\/p>\n<\/div>\n<p>S&amp;P, Dow, Nasdaq futures tread water ahead of Fed Powell&#8217;s testimony.(00:24) FedEx (FDX) falls after revenue miss, weak profit guidance; UPS (UPS) slips as well (01:22). Advanced Micro Devices (AMD) to invest up to $135M to expand operations in Ireland (02:03). <\/p>\n<p>This is an abridged transcript of the podcast.<\/p>\n<p>Fed chair Jerome Powell will speak on Capitol Hill today. FedEx is falling after a revenue miss and weak guidance and AMD is investing millions to expand in Ireland.<\/p>\n<p>Fed chief Jay Powell makes his way to Capitol Hill today.<\/p>\n<p>He faces the House Financial Services Committee at 10 a.m. ET.<\/p>\n<p>Deutsche Bank&#8217;s Jim Reid said, &#8220;Given that the (FED) decision was only a week ago, it\u2019s likely that Powell will stick to his main themes from the press conference. But it\u2019ll be interesting to see how he frames the Fed\u2019s decision last week.\u201d<\/p>\n<p>Last week the Fed decided to pause rate hikes. They also signaled in the dot plot that 2 further hikes were expected by December.<\/p>\n<p>And ING is saying that Powell&#8217;s Q&amp;A could accelerate the yield curve inversion today.<\/p>\n<p>The yield curve inversion reached a multi-decade record on Tuesday morning as the spread between the 10-Year Treasury yield (US10Y) and the 2-Year Treasury yield (US2Y) reached 97 basis points. This represented the widest gap the curve has experienced in more than 40 years, dating all the way back to 1981.<\/p>\n<p>We told you Tuesday here on Wall Street Breakfast that FedEx would be reporting after the closing bell.<\/p>\n<p>FedEx reported total revenue of $21.9B for the quarter vs. $22.66B consensus.<\/p>\n<p>Looking ahead, FedEx sees EPS of $16.50 to $18.50 for FY24 vs. $18.31 consensus. Guidance for capital spending was set at $5.7B, with a priority on investments to improve efficiency.<\/p>\n<p>(NYSE:FDX) traded lower after the report.<\/p>\n<p>Premarket FedEx is down 3.2%.<\/p>\n<p>Advanced Micro Devices (NASDAQ:AMD) will invest up to $135M over four years to expand its operations in Ireland.<\/p>\n<p>AMD is investing in strategic R&amp;D projects and will add up to 290 engineering and research positions and support roles.<\/p>\n<p>The company said in a statement that this investment will, among other things, allow its R&amp;D teams in Ireland to take a leadership position on artificial intelligence.<\/p>\n<p>The most recent article on Seeking Alpha about AMD is by Tech Stock Pros. They rate AMD a strong sell saying that the company has nothing meaningful to bring to the space of A.I acceleration.<\/p>\n<p>Other headlines to look out for on Seeking Alpha:<\/p>\n<p>More big wins for Tesla: Charging standards and EV subsidies<\/p>\n<p>Simulations Plus acquires Immunetrics to expand into immunology and oncology<\/p>\n<p>Paramount sale of BET may be in doubt as asking price too high &#8211; report<\/p>\n<p>YouTube&#8217;s 1st official shopping channel to launch in South Korea &#8211; report<\/p>\n<p>HBO reportedly in talks to license shows to rival Netflix<\/p>\n<p>Mastercard rolls out global recycling plan for debit, credit cards &#8211; report<\/p>\n<p>On our catalyst watch for the day, Intel (INTC) will hold an investor webinar and Hewlett Packard Enterprise (HPE) will conduct and broadcast its live Investor Relations Summit as part of its Discover event in Las Vegas.<\/p>\n<p>Wall Street&#8217;s major averages on Tuesday stumbled through a lackluster session to end in the red.<\/p>\n<p>The Nasdaq (COMP.IND) fell 0.2%. The Dow (DJI) slipped 0.7%. The S&amp;P 500 lost ground by 0.5%.<\/p>\n<p>All 11 S&amp;P sectors closed trading in the red, with the exception of Consumer Discretionary. Leading the losers with a more than 2% drop was Energy.<\/p>\n<p>The economic calendar on Tuesday was fairly light, with housing starts and building permits data for May on the docket. The former surged past consensus while the latter was also strong.<\/p>\n<p>Looking at the fixed-income markets, Treasury yields were lower. The 10-year yield (US10Y) was down 10 basis points to 3.72% while the 2-year yield (US2Y) was down 7 basis points to 4.68%.<\/p>\n<p>Now let\u2019s take a look at the markets as of 6:20 am. Ahead of the opening bell today, Dow, S&amp;P and Nasdaq futures are in the green. The Dow is up 0.04%, the S&amp;P 500 is up 0.1% and the Nasdaq is up 0.1%. Crude oil is flat at more than $71 a barrel. Bitcoin is up 8.2% and is knocking on the door of 29,000.<\/p>\n<p>In the world markets, the FTSE 100 is up 0.2% and the DAX is also up 0.2%.<\/p>\n<p>On today\u2019s economic calendar, at 10am Fed chair Jerome Powell will speak before the House Financial Services committee and at 4pm the Fed\u2019s Loretta Mester will speak in Cleveland at a policy summit.<\/p>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/seekingalpha.com\/article\/4612736-wall-street-breakfast-podcast-powell-faces-questions-on-capitol-hill?source=feed_all_articles\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Listen on the go! Subscribe to Wall Street Breakfast on Apple Podcasts and Spotify S&amp;P, Dow, Nasdaq futures tread water ahead of Fed Powell&#8217;s testimony.(00:24) FedEx (FDX) falls after revenue miss, weak profit guidance; UPS (UPS) slips as well (01:22). Advanced Micro Devices (AMD) to invest up to $135M to expand operations in Ireland (02:03). [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":25404,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[236],"tags":[83],"class_list":["post-25403","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-news","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Wall Street Breakfast Podcast: Powell Faces Questions | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Listen on the go! Subscribe to Wall Street Breakfast on Apple Podcasts and Spotify S&amp;P, Dow, Nasdaq futures tread water ahead of Fed Powell&#039;s\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=25403\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Wall Street Breakfast Podcast: Powell Faces Questions | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"Listen on the go! Subscribe to Wall Street Breakfast on Apple Podcasts and Spotify S&amp;P, Dow, Nasdaq futures tread water ahead of Fed Powell&#039;s\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=25403\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-21T11:13:59+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-06-21T11:14:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/06\/1687346040_image_1404469970.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1536\" \/>\n\t<meta property=\"og:image:height\" content=\"1024\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=25403#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=25403\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Wall Street Breakfast Podcast: Powell Faces Questions\",\"datePublished\":\"2023-06-21T11:13:59+00:00\",\"dateModified\":\"2023-06-21T11:14:01+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=25403\"},\"wordCount\":785,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=25403#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=25403\",\"url\":\"https:\/\/ifintechworld.com\/?p=25403\",\"name\":\"Wall Street Breakfast Podcast: Powell Faces Questions | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-06-21T11:13:59+00:00\",\"dateModified\":\"2023-06-21T11:14:01+00:00\",\"description\":\"Listen on the go! Subscribe to Wall Street Breakfast on Apple Podcasts and Spotify S&amp;P, Dow, Nasdaq futures tread water ahead of Fed Powell's\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=25403#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=25403\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=25403#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Wall Street Breakfast Podcast: Powell Faces Questions\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Wall Street Breakfast Podcast: Powell Faces Questions | iFintechWorld","description":"Listen on the go! Subscribe to Wall Street Breakfast on Apple Podcasts and Spotify S&amp;P, Dow, Nasdaq futures tread water ahead of Fed Powell's","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=25403","og_locale":"en_US","og_type":"article","og_title":"Wall Street Breakfast Podcast: Powell Faces Questions | iFintechWorld","og_description":"Listen on the go! Subscribe to Wall Street Breakfast on Apple Podcasts and Spotify S&amp;P, Dow, Nasdaq futures tread water ahead of Fed Powell's","og_url":"https:\/\/ifintechworld.com\/?p=25403","og_site_name":"iFintechWorld","article_published_time":"2023-06-21T11:13:59+00:00","article_modified_time":"2023-06-21T11:14:01+00:00","og_image":[{"width":1536,"height":1024,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/06\/1687346040_image_1404469970.jpg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=25403#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=25403"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"Wall Street Breakfast Podcast: Powell Faces Questions","datePublished":"2023-06-21T11:13:59+00:00","dateModified":"2023-06-21T11:14:01+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=25403"},"wordCount":785,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"articleSection":["News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=25403#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=25403","url":"https:\/\/ifintechworld.com\/?p=25403","name":"Wall Street Breakfast Podcast: Powell Faces Questions | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-06-21T11:13:59+00:00","dateModified":"2023-06-21T11:14:01+00:00","description":"Listen on the go! Subscribe to Wall Street Breakfast on Apple Podcasts and Spotify S&amp;P, Dow, Nasdaq futures tread water ahead of Fed Powell's","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=25403#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=25403"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=25403#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"Wall Street Breakfast Podcast: Powell Faces Questions"}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/25403","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=25403"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/25403\/revisions"}],"predecessor-version":[{"id":25405,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/25403\/revisions\/25405"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/25404"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=25403"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=25403"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=25403"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}