{"id":60485,"date":"2022-03-22T08:59:12","date_gmt":"2022-03-22T12:59:12","guid":{"rendered":"https:\/\/www.t3live.com\/blog\/?p=60485"},"modified":"2022-03-22T08:59:12","modified_gmt":"2022-03-22T12:59:12","slug":"coffee-with-greta-eu-split-on-russian-oil-ban","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2022\/03\/22\/coffee-with-greta-eu-split-on-russian-oil-ban\/","title":{"rendered":"Coffee With Greta: EU Split on Russian Oil Ban"},"content":{"rendered":"

Editor's Note:<\/strong> Coffee With Greta is a FREE morning update from our newest contributor Greta Wall. Want to get it by email every day? Click here<\/span><\/a><\/strong>.<\/p>\n

********<\/p>\n

DJIA Futures:\u00a0<\/b>+143, (+0.4%)<\/p>\n

SPX Futures:\u00a0<\/b>+11 (+0.2%)<\/p>\n

NASDAQ Futures:\u00a0<\/b>+7 (+0.1%)<\/p>\n

Good morning friends!<\/span><\/p>\n

Futures are higher as the market weighs hawkish comments from the Fed Chair. Meanwhile, the European Union is split on a Russian oil ban.<\/span><\/p>\n

Let\u2019s get right to it!<\/span><\/p>\n

EU Leaders Split on Russian Oil Ban<\/strong><\/h2>\n

Oil prices are up slightly as officials in the European Union have been unable to agree on a potential oil embargo against Russia.\u00a0<\/span><\/p>\n

West Texas Intermediate crude futures are up just 0.5% at $112.65 per barrel with Brent crude futures rising 0.9% to $116.71 per barrel.<\/span><\/p>\n

Some EU countries say the bloc is too dependent on Russian energy\u00a0 to withstand a ban.\u00a0<\/span><\/p>\n

The American Petroleum Institute is set to release its supply report later today which is not expected to show any change in crude inventory in the U.S.<\/span><\/p>\n

Tesla to Open German Gigafactory<\/strong><\/h2>\n

Tesla <\/b>(TSLA) shares are up 0.6% ahead of the open as the electric automaker prepares to open its new gigafactory in Germany.\u00a0<\/span><\/p>\n

CEO Elon Musk will cut the red ribbon at Giga Berlin today.\u00a0<\/span><\/p>\n

In a tweet, he said he was “excited to hand over the first production cars” made at the factory.<\/p>\n

\n

Excited to hand over the first production cars made by Giga Berlin-Brandenburg tomorrow!<\/p>\n

\u2014 Elon Musk (@elonmusk) March 21, 2022<\/a><\/p><\/blockquote>\n

The automaker sees the factory producing up to 500,000 vehicles annually.\u00a0<\/span><\/p>\n

Alibaba Pops After Upping Buyback Program<\/strong><\/h2>\n

Alibaba <\/b>(BABA) shares are surging 9.6% in premarket trade after increasing the size of its share buyback program.\u00a0<\/span><\/p>\n

The company will now buyback $25 billion worth of shares by March 2024.\u00a0<\/span><\/p>\n

That\u2019s up from the previous $15 billion.\u00a0<\/span><\/p>\n

In a statement, Alibaba\u2019s Deputy Chief Financial Officer said, \u201cAlibaba\u2019s stock price does not fairly reflect the company\u2019s value given our robust financial health and expansion plans\u201d.<\/span><\/p>\n

Nike Jumps on Earnings Beat<\/strong><\/h2>\n

Nike <\/b>(NKE) shares are up 5% ahead of the open after beating fiscal Q3 expectations.\u00a0<\/span><\/p>\n

The sportswear company reported earnings of $0.87 per share on $10.87 billion in revenue.\u00a0<\/span><\/p>\n

That topped analysts\u2019 expectations for EPS of $0.71 on $10.59 billion in revenue.\u00a0<\/span><\/p>\n

Sales rose 9% year-over-year in North America amid strong demand from consumers returning to stores.\u00a0<\/span><\/p>\n

Nike\u2019s CEO said, \u201cMarketplace demand continues to significantly exceed available inventory supply\u201d.<\/span><\/p>\n

Powell Says Inflation is Too High<\/strong><\/h2>\n

Fed Chair Jerome Powell vowed to be tough on inflation Monday, admitting the Central Bank \u201cwidely underestimated\u201d how long it would last.\u00a0\u00a0<\/span><\/p>\n

In a speech at the National Association for Business Economics Conference, Powell said, \u201cThe labor market is very strong, and inflation is much too high\u201d.<\/span><\/p>\n

He said the Central Bank will continue on its path of interest rate hikes to combat those inflation pressures and they\u2019re willing to be aggressive if needed.\u00a0<\/span><\/p>\n

Powell said the Fed is open to larger rate hikes than 25 basis points and is willing to move rates past neutral and \u201cinto a more restrictive stance\u201d if needed. <\/span>
\n<\/span>
\n<\/span>The <\/span>Dow <\/b>snapped a 5-day winning streak Monday following those hawkish comments from Powell.\u00a0<\/span><\/p>\n

In Case You Missed It<\/strong><\/h2>\n
    \n
  • Boeing <\/b>(BA) shares fell 3.6% Monday after a 737-800 crash in China. China\u2019s aviation authority confirmed the plane, operated by China Eastern Airlines, crashed with 132 people on board in the mountains of southern China Monday. Officials say there are no signs of any survivors. Boeing said it is ready to assist in the investigation.<\/span><\/li>\n
  • Alleghany <\/b>(Y) shares surged 24.8% Monday after <\/span>Berkshire Hathaway <\/b>(BRK.A) announced it\u2019s buying the insurance company. Berkshire will buy the company in an all-cash $11.6 billion deal. This is Warren Buffett\u2019s biggest acquisition since 2016. Alleghany will still operate independently after the acquisition.<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"

    Editor’s Note: Coffee With Greta is a FREE morning update from our newest contributor Greta Wall. Want to get it by email every day? Click here. ******** DJIA Futures:\u00a0+143, (+0.4%) SPX Futures:\u00a0+11 (+0.2%) NASDAQ Futures:\u00a0+7 (+0.1%) Good morning friends! Futures are higher as the market weighs hawkish comments from the Fed Chair. Meanwhile, the European Union is split on a Russian oil ban. Let\u2019s get right to it! EU Leaders Split on Russian Oil Ban Oil prices are up slightly as officials in the European Union have been unable to agree on a potential oil embargo against Russia.\u00a0 West Texas Intermediate crude futures are up just 0.5% at $112.65 per barrel with Brent crude futures rising 0.9% to $116.71 per barrel. Some EU countries say the bloc is too dependent on Russian energy\u00a0 to withstand a ban.\u00a0 The American Petroleum Institute is set to release its supply report later today which is not expected to show any change in crude inventory in the U.S. Tesla to Open German Gigafactory Tesla (TSLA) shares are up 0.6% ahead of the open as the electric automaker prepares to open its new gigafactory in Germany.\u00a0 CEO Elon Musk will cut the red ribbon at Giga Berlin today.\u00a0 In a tweet, he said he was “excited to hand over the first production cars” made at the factory. Excited to hand over the first production cars made by Giga Berlin-Brandenburg tomorrow! \u2014 Elon Musk (@elonmusk) March 21, 2022 The automaker sees the factory producing up to 500,000 vehicles annually.\u00a0 Alibaba Pops After Upping Buyback Program Alibaba (BABA) shares are surging 9.6% in premarket trade after increasing the size of its share buyback program.\u00a0 The company will now buyback $25 billion worth of shares by March 2024.\u00a0 That\u2019s up from the previous $15 billion.\u00a0 In a statement, Alibaba\u2019s Deputy Chief Financial Officer said, \u201cAlibaba\u2019s stock price does not fairly reflect the company\u2019s value given our robust financial health and expansion plans\u201d. Nike Jumps on Earnings Beat Nike (NKE) shares are up 5% ahead of the open after beating fiscal Q3 expectations.\u00a0 The sportswear company reported earnings of $0.87 per share on $10.87 billion in revenue.\u00a0 That topped analysts\u2019 expectations for EPS of $0.71 on $10.59 billion in revenue.\u00a0 Sales rose 9% year-over-year in North America amid strong demand from consumers returning to stores.\u00a0 Nike\u2019s CEO said, \u201cMarketplace demand continues to significantly exceed available inventory supply\u201d. Powell Says Inflation is Too High Fed Chair Jerome Powell vowed to be tough on inflation Monday, admitting the Central Bank \u201cwidely underestimated\u201d how long it would last.\u00a0\u00a0 In a speech at the National Association for Business Economics Conference, Powell said, \u201cThe labor market is very strong, and inflation is much too high\u201d. He said the Central Bank will continue on its path of interest rate hikes to combat those inflation pressures and they\u2019re willing to be aggressive if needed.\u00a0 Powell said the Fed is open to larger rate hikes than 25 basis points and is willing to move rates past neutral and \u201cinto a more restrictive stance\u201d if needed. The Dow snapped a 5-day winning streak Monday following those hawkish comments from Powell.\u00a0 In Case You Missed It Boeing (BA) shares fell 3.6% Monday after a 737-800 crash in China. China\u2019s aviation authority confirmed the plane, operated by China Eastern Airlines, crashed with 132 people on board in the mountains of southern China Monday. Officials say there are no signs of any survivors. Boeing said it is ready to assist in the investigation. Alleghany (Y) shares surged 24.8% Monday after Berkshire Hathaway (BRK.A) announced it\u2019s buying the insurance company. Berkshire will buy the company in an all-cash $11.6 billion deal. This is Warren Buffett\u2019s biggest acquisition since 2016. Alleghany will still operate independently after the acquisition.<\/p>\n","protected":false},"author":41,"featured_media":60496,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-60485","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-coffee-with-greta"],"_links":{"self":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/60485","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/comments?post=60485"}],"version-history":[{"count":6,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/60485\/revisions"}],"predecessor-version":[{"id":60497,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/60485\/revisions\/60497"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/60496"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=60485"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=60485"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=60485"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}