{"id":60607,"date":"2022-03-29T08:58:28","date_gmt":"2022-03-29T12:58:28","guid":{"rendered":"https:\/\/www.t3live.com\/blog\/?p=60607"},"modified":"2022-03-29T08:58:28","modified_gmt":"2022-03-29T12:58:28","slug":"coffee-with-greta-futures-pop-ahead-of-economic-data","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2022\/03\/29\/coffee-with-greta-futures-pop-ahead-of-economic-data\/","title":{"rendered":"Coffee With Greta: Futures Pop Ahead of Economic Data"},"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: <\/b>+261 (+0.8%)<\/span><\/p>\n

SPX Futures: <\/b>+35 (+0.8%)<\/span><\/p>\n

NASDAQ Futures: <\/b>+145 (+1.0%)<\/span><\/p>\n

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

Futures are higher as the market looks ahead to new economic data to be released today.<\/span><\/p>\n

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

Market Awaits Economic Data of the Day<\/strong><\/h2>\n

Traders are gearing up for a bunch of new economic data today.\u00a0<\/span><\/p>\n

Both the Case-Shiller national house price index and the Federal Housing Finance Agency house price index are set to be released in just a few moments.\u00a0<\/span><\/p>\n

Those surveys measure the change in home prices on an annual basis and have both hit record highs over the past year.\u00a0<\/span><\/p>\n

The Labor Department releases its February Job Openings and Labor Turnover Survey (JOLTS) at 10:00 a.m. ET.\u00a0<\/span><\/p>\n

That survey is expected to show the jumper of job openings fell to 11.1 million last month from 11.3 million in January.<\/span><\/p>\n

Openings have outpaced the number of unemployed Americans looking for work as the U.S. economy struggles with a labor shortage.\u00a0<\/span><\/p>\n

And the Conference Board\u2019s March consumer confidence index will be released at 10:00 a.m. ET.\u00a0<\/span><\/p>\n

Economists are expecting a three-point decline in that index to 107.5 this month.<\/span><\/p>\n

U.S. consumers have been squeezed by high prices as inflation pressures remain at a 40-year high.<\/p>\n

Treasury Yields Invert<\/strong><\/h2>\n

Two key Treasury yields are inverted again this morning after doing so for the first time since 2006 on Monday.\u00a0<\/span><\/p>\n

The yield on the 5-year Treasury note is up nearly 3 basis points to 2.587% while the yield on the 30-year Treasury note is flat at 2.552%.\u00a0<\/span><\/p>\n

This inversion is seen by many analysts as a warning sign of an impending recession.\u00a0<\/span><\/p>\n

The more closely monitored spread between the 2-year and 10-year yields remains positive.<\/span><\/p>\n

The 2-year yield is sitting at 2.399% with the 10-year yield at 2.486%.<\/span><\/p>\n

Ukraine, Russia Resume Peace Talks<\/strong><\/h2>\n

Peace talks between Ukraine and Russia resumed in Istanbul today after two weeks of no talks.\u00a0<\/span><\/p>\n

Ukrainian officials are still seeking a ceasefire agreement as Russia continues attacks on residential areas.\u00a0<\/span><\/p>\n

Russia\u2019s interfax news agency said those talks were \u201cconstructive\u201d.\u00a0<\/span><\/p>\n

Russia\u2019s deputy defense minister also said the country would \u201cradically reduce\u201d its military activity outside Kyiv and Chernihiv.\u00a0<\/span><\/p>\n

Three humanitarian corridors were opened in Ukraine today allowing civilians to escape the cities of Mariupol and Melitopol.<\/span><\/p>\n

Oil Prices Slide<\/strong><\/h2>\n

Oil prices are sliding as those peace talks resume.\u00a0<\/span><\/p>\n

West Texas Intermediate crude futures are down 6.8%, dropping below $99 per barrel.\u00a0<\/span><\/p>\n

Brent crude futures are down 6.7% to just over $105 per barrel.<\/span><\/p>\n

Demand concerns are also still looming over the oil market amid new Covid lockdowns in Shanghai.\u00a0<\/span><\/p>\n

Shanghai accounts for 4% of China\u2019s oil consumption and China is the largest crude importer in the world.<\/span><\/p>\n

LHC Group Rallies on UnitedHealth Buyout<\/strong><\/h2>\n

LHC Group <\/b>(LHCG) shares are up 7.3% in premarket trade as <\/span>UnitedHealth Group <\/b>(UNH) announced it will buy the company for $5.4 billion.\u00a0<\/span><\/p>\n

UnitedHealth plans to pay $170 cash for each LHCG share.\u00a0<\/span><\/p>\n

The deal still needs to be approved by LHC Group\u2019s shareholders and regulators.<\/span><\/p>\n

LHC Group provides in-home health and hospice care services and is based in Louisiana.<\/span><\/p>\n

FedEx Founder Steps Down as CEO<\/strong><\/h2>\n

FedEx <\/b>(FDX) shares are up 3% ahead of the open after the company announced its founder will step down as CEO.\u00a0<\/span><\/p>\n

FedEx founder Fred Smith will vacate the role June 1, becoming executive chairman.<\/span><\/p>\n

The company\u2019s current president and chief operating officer, Raj Subramaniam, will take over as CEO.\u00a0<\/span><\/p>\n

In a statement, Smith said, \u201cAs we look toward what\u2019s next, I have a great sense of satisfaction that a leader of the caliber of Raj Subramaniam will take FedEx into a very successful future.\u201d<\/span><\/p>\n

Subramaniam has been with FedEx since 1991.<\/span><\/p>\n

In Case You Missed It<\/span><\/h2>\n
    \n
  • Tesla <\/b>(TSLA) shares rallied 8% Monday after a new SEC filing showed the company wants to split its stock. The electric automaker will ask at the shareholders\u2019 meeting \u201cfor an increase in the number of authorized shares of common stock… in order to enable a stock split of the Company\u2019s common stock in the form of a stock dividend\u201d. This would be Tesla\u2019s second stock split in less than two years.<\/span><\/li>\n
  • President Biden unveiled a $5.8 trillion budget proposal for 2023 Monday. The proposal includes a 20% minimum tax rate on households worth more than $100 million. The plan also raises the corporate tax rate to 28% from 21%. Biden\u2019s plan includes about $31 billion in new defense spending and more than $32 billion in funding to combat crime. Congress will use this proposal as a blueprint for budget negotiations.<\/span><\/li>\n<\/ul>\n

     <\/p>\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: +261 (+0.8%) SPX Futures: +35 (+0.8%) NASDAQ Futures: +145 (+1.0%) Good morning friends! Futures are higher as the market looks ahead to new economic data to be released today. Let\u2019s get right to it! Market Awaits Economic Data of the Day Traders are gearing up for a bunch of new economic data today.\u00a0 Both the Case-Shiller national house price index and the Federal Housing Finance Agency house price index are set to be released in just a few moments.\u00a0 Those surveys measure the change in home prices on an annual basis and have both hit record highs over the past year.\u00a0 The Labor Department releases its February Job Openings and Labor Turnover Survey (JOLTS) at 10:00 a.m. ET.\u00a0 That survey is expected to show the jumper of job openings fell to 11.1 million last month from 11.3 million in January. Openings have outpaced the number of unemployed Americans looking for work as the U.S. economy struggles with a labor shortage.\u00a0 And the Conference Board\u2019s March consumer confidence index will be released at 10:00 a.m. ET.\u00a0 Economists are expecting a three-point decline in that index to 107.5 this month. U.S. consumers have been squeezed by high prices as inflation pressures remain at a 40-year high. Treasury Yields Invert Two key Treasury yields are inverted again this morning after doing so for the first time since 2006 on Monday.\u00a0 The yield on the 5-year Treasury note is up nearly 3 basis points to 2.587% while the yield on the 30-year Treasury note is flat at 2.552%.\u00a0 This inversion is seen by many analysts as a warning sign of an impending recession.\u00a0 The more closely monitored spread between the 2-year and 10-year yields remains positive. The 2-year yield is sitting at 2.399% with the 10-year yield at 2.486%. Ukraine, Russia Resume Peace Talks Peace talks between Ukraine and Russia resumed in Istanbul today after two weeks of no talks.\u00a0 Ukrainian officials are still seeking a ceasefire agreement as Russia continues attacks on residential areas.\u00a0 Russia\u2019s interfax news agency said those talks were \u201cconstructive\u201d.\u00a0 Russia\u2019s deputy defense minister also said the country would \u201cradically reduce\u201d its military activity outside Kyiv and Chernihiv.\u00a0 Three humanitarian corridors were opened in Ukraine today allowing civilians to escape the cities of Mariupol and Melitopol. Oil Prices Slide Oil prices are sliding as those peace talks resume.\u00a0 West Texas Intermediate crude futures are down 6.8%, dropping below $99 per barrel.\u00a0 Brent crude futures are down 6.7% to just over $105 per barrel. Demand concerns are also still looming over the oil market amid new Covid lockdowns in Shanghai.\u00a0 Shanghai accounts for 4% of China\u2019s oil consumption and China is the largest crude importer in the world. LHC Group Rallies on UnitedHealth Buyout LHC Group (LHCG) shares are up 7.3% in premarket trade as UnitedHealth Group (UNH) announced it will buy the company for $5.4 billion.\u00a0 UnitedHealth plans to pay $170 cash for each LHCG share.\u00a0 The deal still needs to be approved by LHC Group\u2019s shareholders and regulators. LHC Group provides in-home health and hospice care services and is based in Louisiana. FedEx Founder Steps Down as CEO FedEx (FDX) shares are up 3% ahead of the open after the company announced its founder will step down as CEO.\u00a0 FedEx founder Fred Smith will vacate the role June 1, becoming executive chairman. The company\u2019s current president and chief operating officer, Raj Subramaniam, will take over as CEO.\u00a0 In a statement, Smith said, \u201cAs we look toward what\u2019s next, I have a great sense of satisfaction that a leader of the caliber of Raj Subramaniam will take FedEx into a very successful future.\u201d Subramaniam has been with FedEx since 1991. In Case You Missed It Tesla (TSLA) shares rallied 8% Monday after a new SEC filing showed the company wants to split its stock. The electric automaker will ask at the shareholders\u2019 meeting \u201cfor an increase in the number of authorized shares of common stock… in order to enable a stock split of the Company\u2019s common stock in the form of a stock dividend\u201d. This would be Tesla\u2019s second stock split in less than two years. President Biden unveiled a $5.8 trillion budget proposal for 2023 Monday. The proposal includes a 20% minimum tax rate on households worth more than $100 million. The plan also raises the corporate tax rate to 28% from 21%. Biden\u2019s plan includes about $31 billion in new defense spending and more than $32 billion in funding to combat crime. Congress will use this proposal as a blueprint for budget negotiations.  <\/p>\n","protected":false},"author":41,"featured_media":60609,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-60607","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\/60607","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=60607"}],"version-history":[{"count":2,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/60607\/revisions"}],"predecessor-version":[{"id":60611,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/60607\/revisions\/60611"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/60609"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=60607"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=60607"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=60607"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}