In this episode Scott discusses:
- President Biden Nominated Fed Chair Powell to a second term as Chair.
- Treasury yields on the 10 year bond rose nearly 10 basis points to close at 1.625.
- Growth and tech stocks faltered yesterday on news of Powell’s pick.
- The equity markets initially jumped on the news of Powell’s reappointment but then the S&P 500 and Nasdaq dropped significantly.
- Samsung is building a huge chip making plant in Texas.
- Comcast which is the owner of NBC Universal’s Peacock NBCUniversal owns Hulu with Disney but has the right to pull Hulu from Disney+ and only have the content on Peacock.
- Goldman points to these 5 stocks as stocks to avoid due to high labor costs to earnings.
- Zoom stock fell nearly 4 percent on news of slowing growth.
- Bank of America rose yesterday on the Fed Chair reappointment as bank stocks tend to do well as interest rates and borrowing costs rise.
- For the first time in months, we are seeing some car commercials.
- Blackstone finished down 1.4 percent yesterday at 144 on the Fed news.
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