Wall Street Hits Records Amid Economic and Business Shifts

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0:30 Speaker 2 Well, what’s going on in the markets? Well, you know I said that we’re going to hit sixty thousand by December of twenty six. Well we’re almost a fifty three thousand already with us today? Is John Tarrett to give us the pulse of situation? John Terrett, give us the pulse of the situation. What’s going on?

0:51 Speaker 3 Well, I will never doubt what you say again, because you predicted down fifty thousand and it happened, and you did that weeks before it actually happened. So down sixty other very possible. The big story I suppose is that Love it was a shortened training week because we only got to Thursday because Friday was a holiday. In the

1:07 build up to the two hundred and fiftieth birthday. We had jobs Thursday for a change, and it was in one sense a bit of a disappointment because economists have been expecting one hundred thousand, maybe one hundred fifteen thousand to be added in the month of June and it was fifty seven thousand. However, that drove the markets for

1:21 a while on Thursday when they last traded, And of course we saw a busy week last week with lots of records being broken all over the place. Company news Comcast, the cable TV people to be specific. They own NBC, Tellimundo, Brava, Peacock, Sky, UK, Universal Studios, the theme parks in Orlando, Hollywood, Japan and Beijing where they’re splitting their company into two and this

1:43 is all part of the TV revolution that’s going on. So there will be one company looking after all the broadcasters and the other one still called Combasts, will look after distribution for cable, broadband and wireless for their customers around the country. And this is as people switch in quickingly away from broadcast in whichever form they get it

2:01 to streaming in the supermarket world. I did this for you, John Couga, which is actually the biggest supermarket chain in the country by revenue. By revenue, they’re buying Giant Eagle of Paylvania for one point six five million dollars. They get another two hundred stores. And this is all part of competition really heating in the space, with real price

2:21 pressure coming in from the likes of Walmart and Costco and even these days German companies Audi and Leadal, which are training here quite well. At the moment, Kevin Walsh, the new chair of the Central Bank, has sound Irvin King will be looking after a task force to look into communications at the Fed. Mervin King Governor Bank of

2:40 England for a while, and we returned to Kevint Walsh in just a second. But first of all, I have a local story for you, Jersey must the sub Sandwich store started a number of years ago in Manusqua, New Jersey.

2:51 They now have three thy five hundred locations around the world and they have confidentially filed for their own IPO, their own initial public offering, being guided by the company Baxtone. The crypto story of the week was President Trump with his one point four billion dollars worth of earnings, not holdings, but earnings from cryptocurrency, which did, to be fair, raise

3:13 a few eyebrows and in many ways raise a few questions. Not for today, though, and in the week ahead. The big one will be on Wednesday with the afore mentioned Kevin Walsh his last meeting. Of course, he’s first as the chair of the Central Bank, and it did not change interest rates. We get the minutes from that meeting,

3:31 and those minutes are eagerly awaited.

3:34 Speaker 2 John Well, John Charrett, have a great fourth in July weekend and I hope you spend it with family and God bless you and God bless America.

3:43 Speaker 3 Thank you, John. I’m surrounded by family. We’ve got my niece and nephew in from London, so we’re having a great weekend and so the same to you and Margo and everybody in the family. God bless