{"id":61303,"date":"2022-05-09T09:01:01","date_gmt":"2022-05-09T13:01:01","guid":{"rendered":"https:\/\/www.t3live.com\/blog\/?p=61303"},"modified":"2022-05-09T09:03:19","modified_gmt":"2022-05-09T13:03:19","slug":"coffee-with-greta-wall-st-rout-continues-yields-spike","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2022\/05\/09\/coffee-with-greta-wall-st-rout-continues-yields-spike\/","title":{"rendered":"Coffee With Greta: The Destruction Continues, Yields Spike"},"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>-364 (-1.1%)<\/span><\/p>\n

SPX Futures: <\/b>-59 (-1.4%)<\/span><\/p>\n

NASDAQ Futures: <\/b>-232 (-1.8%)<\/span><\/p>\n

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

Futures are tumbling, extending last week\u2019s rout as Treasury yields rise.<\/span><\/p>\n

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

Yields Rally<\/strong><\/h2>\n

U.S. Treasury yields are on the rise amid new concerns about inflation and slowing economic growth.\u00a0<\/span><\/p>\n

The 10-year Treasury yield hit the highest level since November 2018, jumping to 3.185% this morning.<\/span><\/p>\n

The yield on the 30-year bond jumped to 3.293%.\u00a0<\/span><\/p>\n

Yields have spiked since the Fed decision last week as the market worries the bank\u2019s actions against inflation will cause a recession.<\/span><\/p>\n

Bitcoin Is Still Tumbling<\/strong><\/h2>\n

Bitcoin prices kept sliding over the weekend after the crypto market fell alongside the stock market last week.\u00a0<\/span><\/p>\n

Bitcoin is down 4.9% in the past 24 hours at $32,995.\u00a0<\/span><\/p>\n

That\u2019s the lowest level since July 2021 and down more than 50% from its peak at $68,990.90 in November.<\/span><\/p>\n

Ethereum<\/strong> is down 6.3% at $2,400.<\/span><\/p>\n

XRP<\/strong> is down 6.2% at $0.53 and Dogecoin<\/strong> has fallen 6.8% to $0.11.<\/span><\/p>\n

The global crypto market cap has lost 5.6% in the past 24 hours, falling to $1.59 trillion.<\/span><\/p>\n

Tyson\u2019s Price Hikes Boost Earnings<\/strong><\/h2>\n

Tyson Foods <\/b>(TSN) shares are up 2.7% ahead of the open after beating fiscal Q2 expectations.\u00a0<\/span><\/p>\n

The meat company reported adjust earnings of $2.29 per share on $13.1 billion in revenue.\u00a0<\/span><\/p>\n

That topped analysts\u2019 expectations for adjusted EPS of $1.89 on $12.8 billion in revenue.<\/span><\/p>\n

Tyson said the average sales price of its products rose last quarter \u201cdue to the effects of pricing initiatives in an inflationary cost environment.\u201d<\/span><\/p>\n

Beef revenue jumped 23.8% year-over-year, pork sales jumped 10.8%, chicken revenue was up 14.4%, and sales of prepared foods rose 15.9%.<\/span><\/p>\n

Tyson hiked its full-year revenue forecast to between $52 billion and $54 billion from $49 billion to $51 billion previously.<\/span><\/p>\n

Palantir Misses Q1 Expectations<\/strong><\/h2>\n

Palantir Technologies <\/b>(PLTR) shares are tumbling 14.9% in premarket trade after missing Q1 expectations.\u00a0<\/span><\/p>\n

The company reported adjusted earnings of $0.02 per share on $446.4 million in revenue.\u00a0<\/span><\/p>\n

That was weaker than the company\u2019s own forecast for revenue of $447 million and weaker than analysts\u2019 expectations for adjusted EPS of $0.04.\u00a0<\/span><\/p>\n

Commercial revenue rose 54% year-over-year to $205 million, topping analysts\u2019 estimates for $193 million.\u00a0<\/span><\/p>\n

Palantir expects Q2 revenue of at least $470 million vs consensus estimates for $484 million.<\/span><\/p>\n

The company reiterated its long-term forecast for annual revenue growth of 30% or better through 2025.<\/span><\/p>\n

BioNTech Earnings Boosted by Covid Vaccine Sales<\/strong><\/h2>\n

BioNTech <\/b>(BNTX) shares are up 1.1% ahead of the open as strong Covid vaccine sales boosted its Q1 earnings.\u00a0<\/span><\/p>\n

The German pharmaceutical company reported earnings of \u20ac14.24 per share on \u20ac6.37 billion in revenue.\u00a0<\/span><\/p>\n

That topped analysts\u2019 expectations for EPS of \u20ac9.16 on \u20ac4.34 billion in revenue.\u00a0<\/span><\/p>\n

The company said the revenue jump \u201cwas mainly due to increased commercial revenues from the supply and sales of the company\u2019s Covid-19 vaccine worldwide.\u201d<\/span><\/p>\n

BioNTech reiterated its full-year outlook for Covid vaccine revenue between \u20ac13 billion to \u20ac17 billion.<\/span><\/p>\n

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

Oil prices are falling as a strong U.S. dollar weighs on the market and Covid lockdowns in China prompt demand worries.\u00a0<\/span><\/p>\n

West Texas Intermediate crude futures are down 2.3% to $107 bbl while Brent crude futures are down 2.1% to $110 bbl.<\/span><\/p>\n

The dollar hit a 20-year high, making oil more expensive for foreign currency holders.\u00a0<\/span><\/p>\n

The EU is still working to secure a unanimous vote on its proposed Russian oil ban.\u00a0<\/span><\/p>\n

The G7 nations pledged to join the bloc in that action over the weekend and Japan\u2019s prime minister said his country would ban Russian crude imports \u201cin principle\u201d.<\/span><\/p>\n

Inflation Week<\/strong><\/h2>\n

The market got rocked by a Fed rate hike and big economic data last week and more is on the way this week.\u00a0<\/span><\/p>\n

The Bureau of Labor Statistics releases the April consumer price index Wednesday morning followed by the producer price index Thursday morning.\u00a0<\/span><\/p>\n

Traders will be focused on that data to see if inflation has peaked.\u00a0<\/span><\/p>\n

Although headline inflation pressures soared in March, the core CPI and PPI both came in weaker than expected.\u00a0<\/span><\/p>\n

That prompted optimism that inflation may start trending downward soon.\u00a0<\/span><\/p>\n

The Fed also believes inflation may have peaked and will start to cool in the months ahead.\u00a0<\/span><\/p>\n

The New York Fed\u2019s 1-year and 3-year consumer inflation expectations will be released today at 11:00 a.m. ET.<\/span><\/p>\n

In Case You Missed It<\/strong><\/h2>\n
    \n
  • Peloton <\/b>(PTON) shares hit a record-low at $14.70 on Friday amid investor uncertainty about the company\u2019s turnaround plans. The exercise bike maker is scheduled to report earnings ahead of the open Tuesday morning. PTON shares are down 2.4% in premarket trade.<\/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: -364 (-1.1%) SPX Futures: -59 (-1.4%) NASDAQ Futures: -232 (-1.8%) Good morning friends! Futures are tumbling, extending last week\u2019s rout as Treasury yields rise. Let\u2019s get right to it! Yields Rally U.S. Treasury yields are on the rise amid new concerns about inflation and slowing economic growth.\u00a0 The 10-year Treasury yield hit the highest level since November 2018, jumping to 3.185% this morning. The yield on the 30-year bond jumped to 3.293%.\u00a0 Yields have spiked since the Fed decision last week as the market worries the bank\u2019s actions against inflation will cause a recession. Bitcoin Is Still Tumbling Bitcoin prices kept sliding over the weekend after the crypto market fell alongside the stock market last week.\u00a0 Bitcoin is down 4.9% in the past 24 hours at $32,995.\u00a0 That\u2019s the lowest level since July 2021 and down more than 50% from its peak at $68,990.90 in November. Ethereum is down 6.3% at $2,400. XRP is down 6.2% at $0.53 and Dogecoin has fallen 6.8% to $0.11. The global crypto market cap has lost 5.6% in the past 24 hours, falling to $1.59 trillion. Tyson\u2019s Price Hikes Boost Earnings Tyson Foods (TSN) shares are up 2.7% ahead of the open after beating fiscal Q2 expectations.\u00a0 The meat company reported adjust earnings of $2.29 per share on $13.1 billion in revenue.\u00a0 That topped analysts\u2019 expectations for adjusted EPS of $1.89 on $12.8 billion in revenue. Tyson said the average sales price of its products rose last quarter \u201cdue to the effects of pricing initiatives in an inflationary cost environment.\u201d Beef revenue jumped 23.8% year-over-year, pork sales jumped 10.8%, chicken revenue was up 14.4%, and sales of prepared foods rose 15.9%. Tyson hiked its full-year revenue forecast to between $52 billion and $54 billion from $49 billion to $51 billion previously. Palantir Misses Q1 Expectations Palantir Technologies (PLTR) shares are tumbling 14.9% in premarket trade after missing Q1 expectations.\u00a0 The company reported adjusted earnings of $0.02 per share on $446.4 million in revenue.\u00a0 That was weaker than the company\u2019s own forecast for revenue of $447 million and weaker than analysts\u2019 expectations for adjusted EPS of $0.04.\u00a0 Commercial revenue rose 54% year-over-year to $205 million, topping analysts\u2019 estimates for $193 million.\u00a0 Palantir expects Q2 revenue of at least $470 million vs consensus estimates for $484 million. The company reiterated its long-term forecast for annual revenue growth of 30% or better through 2025. BioNTech Earnings Boosted by Covid Vaccine Sales BioNTech (BNTX) shares are up 1.1% ahead of the open as strong Covid vaccine sales boosted its Q1 earnings.\u00a0 The German pharmaceutical company reported earnings of \u20ac14.24 per share on \u20ac6.37 billion in revenue.\u00a0 That topped analysts\u2019 expectations for EPS of \u20ac9.16 on \u20ac4.34 billion in revenue.\u00a0 The company said the revenue jump \u201cwas mainly due to increased commercial revenues from the supply and sales of the company\u2019s Covid-19 vaccine worldwide.\u201d BioNTech reiterated its full-year outlook for Covid vaccine revenue between \u20ac13 billion to \u20ac17 billion. Oil Prices Tumble Oil prices are falling as a strong U.S. dollar weighs on the market and Covid lockdowns in China prompt demand worries.\u00a0 West Texas Intermediate crude futures are down 2.3% to $107 bbl while Brent crude futures are down 2.1% to $110 bbl. The dollar hit a 20-year high, making oil more expensive for foreign currency holders.\u00a0 The EU is still working to secure a unanimous vote on its proposed Russian oil ban.\u00a0 The G7 nations pledged to join the bloc in that action over the weekend and Japan\u2019s prime minister said his country would ban Russian crude imports \u201cin principle\u201d. Inflation Week The market got rocked by a Fed rate hike and big economic data last week and more is on the way this week.\u00a0 The Bureau of Labor Statistics releases the April consumer price index Wednesday morning followed by the producer price index Thursday morning.\u00a0 Traders will be focused on that data to see if inflation has peaked.\u00a0 Although headline inflation pressures soared in March, the core CPI and PPI both came in weaker than expected.\u00a0 That prompted optimism that inflation may start trending downward soon.\u00a0 The Fed also believes inflation may have peaked and will start to cool in the months ahead.\u00a0 The New York Fed\u2019s 1-year and 3-year consumer inflation expectations will be released today at 11:00 a.m. ET. In Case You Missed It Peloton (PTON) shares hit a record-low at $14.70 on Friday amid investor uncertainty about the company\u2019s turnaround plans. The exercise bike maker is scheduled to report earnings ahead of the open Tuesday morning. PTON shares are down 2.4% in premarket trade.  <\/p>\n","protected":false},"author":41,"featured_media":61311,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-61303","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\/61303","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=61303"}],"version-history":[{"count":4,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/61303\/revisions"}],"predecessor-version":[{"id":61315,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/61303\/revisions\/61315"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/61311"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=61303"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=61303"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=61303"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}