Full transcript of "Face the Nation" on Sept. 18, 2022
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The major U.S. index futures were pointing to a markedly weaker start on Thursday, potentially reversing some of the previous session’s strong gains. © Provided by Benzinga
U.S. stocks rallied out of the gate on Wednesday, with the upward momentum accelerating over the course of the session, as bargain hunting lifted the market from out of its two-year lows.
Energy, communications, consumer discretionary and material stocks led the advances on a day, which saw across-the-board buying interest.
U.S. Indices' Performance On Wednesday
|Index ||Performance (+/-) ||Value |
|Nasdaq Composite ||+2.05% ||11,051.64 |
|S&P 500 Index ||+1.97% ||3,719.04 |
|Dow Industrials ||+1.88% ||29,683.74 |
Here’s a peek into index futures trading:
Democrats’ effort to stop lawmakers from stock trading has a potential loophole
A new bill aims to curb conflicts of interest in Congress — but lawmakers could help themselves get around it.Those efforts have culminated in the release of the Combating Financial Conflicts of Interest in Government Act, a bill which prohibits Congress members, their spouses, and their dependent children from trading stocks. That ban would apply to the federal judiciary and high-ranking members of the executive branch as well as Congress.
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Must Read: US Stocks Look Set To Squander Wednesday's Gains As Economic Worries Continue To Haunt Traders, Futures Trading Shows — Apple, Tesla In Focus
U.S. Futures' Performance On Thursday During Premarket Session
|Index ||Performance (+/-) |
|Nasdaq 100 Futures ||-1.24% |
|S&P 500 Futures ||-0.90% |
|Dow Futures ||-0.66% |
|R2K Futures ||-1.52% |
In premarket trading on Thursday, the SPDR S&P 500 ETF Trust(NYSE: SPY) fell 0.85% to $367.39, while Invesco QQQ Trust (NASDAQ: QQQ) was down 1.16% to $276.69, according to Benzinga Pro data.
On the economic front, the Labor Department will release the jobless claims report for the week ended Sept. 24 at 8:30 a.m. EDT. Economists, on average, expect the number of individuals filing for unemployment benefits to tick up from 213,000 in the previous week to 215,000.
Rep. Abigail Spanberger says the Democratic party needs 'new leaders in the halls of Capitol Hill' after stock trade ban stalls again
Spanberger accused Pelosi and top Democrats of trying to "string the media and the public along" with a new bill that "was designed to fail.""This moment marks a failure of House leadership — and it's yet another example of why I believe that the Democratic Party needs new leaders in the halls of Capitol Hill, as I have long made known," the congresswoman said in a statement released Friday morning.
The Census Bureau will release the third estimate of second-quarter GDP data, also at 8:30 a.m. EDT. The report is likely to confirm the 0.6% month-over-month contraction previously reported. Traders may also keep an eye on the price consumption expenditure data from the report to gauge inflationary pressure.
St. Louis Fed President James Bullard is expected to speak at 9:30 a.m. EDT, while Loretta Mester, Cleveland Fed president and Federal Open Market Committee member, is scheduled to make a public appearance at 1 p.m. EDT.
See also: Is The SPY Headed For Another Bull Cycle In This Bear Market: Here's A Look At The Market ETF
Stocks In Focus: Tesla, Inc.
(NASDAQ: TSLA) shares could see some activity ahead of a few near-term catalysts, including its AI Day scheduled for late Friday and third-quarter deliveries data due this weekend. The company also announced the appointment of Airbnb, Inc.
(NASDAQ: ABNB) founder Joseph Gebbia
as a member of its board. Apple, Inc.
(NASDAQ: AAPL) continued to head southward after conflicting reports concerning the demand for its iPhone 14. BofA Securities downgraded the company’s shares from Buy to Neutral, with a $160 price target. Separately, analyst Ming-Chi Kuo said the company’s self-driving car project will likely have a new team in place by the end of 2022. Windtree Therapeutics, Inc.
(NASDAQ: WINT) shares were rising on a positive mid-stage readout.
Commodities, Global Equity Markets:
Jets’ Robert Saleh says Quinnen Williams-Jeff Ulbrich drama is ‘bush league’ | Is he right?
The Jets are once again having to answer for an awkward situation between a coach and one of their best players, Quinnen Williams. And coach Robert Saleh isn’t happy about the mini firestorm that ensued after defensive coordinator Jeff Ulbrich’s poorly worded answer regarding Williams this week. “It’s kind of bush league to take a one-liner,” Saleh said. “But it is what it is. We all know where Jeff’s heart is, so no harm, no foul.” But is Saleh actually right? We have some thoughts on that. But first, let’s explain the situation in full. BUY JETS TICKETS: STUBHUB, VIVID SEATS, TICKETSMARTER, TICKETMASTER © Andrew Mills/nj.
Crude oil futures were advancing for a third straight session, although the upward momentum has moderated. The recent strength, which took black gold past $80-a-barrel, was due to supply concerns following Hurricane Ian impacting production.
The Asian markets had a mixed session on Thursday. While the Japanese, Australian, South Korean and New Zealand markets advanced — China, Hong Kong, Malaysia, Singapore, Indonesia and India ended in the red. Optimism over Wall Street’s rebound was tempered by worries concerning the economic outlook in an inflationary environment.
European stocks were trading notably lower in late morning trading. Porsche, which was spun off from Volkswagen AG (OTC: VWAGY) went public by listing its shares on the Frankfurt Stock Exchange on Thursday.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Big Brazilian gold refiner delisted amid Amazon mining probe .
MIAMI (AP) — One of Brazil’s biggest gold refiners, which processes gold suspected of being mined illegally in the Amazon rainforest, has been stripped of an important industry seal of approval that global manufacturers from Apple to Tesla rely on to root out abuses in their supply chains. An investigation by The Associated Press in January revealed how Sao Paulo-based Marsam shared ownership links and processes gold on behalf of an intermediary accused by Brazilian prosecutors of buying tarnished gold from Indigenous territories and other protected areas.