{"id":62012,"date":"2022-06-21T08:59:47","date_gmt":"2022-06-21T12:59:47","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=62012"},"modified":"2022-06-21T08:59:47","modified_gmt":"2022-06-21T12:59:47","slug":"coffee-with-greta-stocks-try-to-recover-from-brutal-sell-off","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2022\/06\/21\/coffee-with-greta-stocks-try-to-recover-from-brutal-sell-off\/","title":{"rendered":"Coffee With Greta: Stocks Try To Recover From Brutal Sell-Off"},"content":{"rendered":"

DJIA Futures: <\/b>+417 (+1.4%)<\/span><\/p>\n

SPX Futures: <\/b>+58 (+1.6%)<\/span><\/p>\n

NASDAQ Futures: <\/b>+182 (+1.6%)<\/span><\/p>\n

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

Futures are rebounding after the market suffered its worst week since 2020.<\/span><\/p>\n

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

Biden Considers Gas Tax Holiday<\/strong><\/h2>\n

President Biden told reporters Monday he is strongly considering a federal gas tax holiday.<\/span><\/p>\n

He said he could make a decision on that proposal by the end of this week.<\/span><\/p>\n

The White House is aiming to do something to lower gas prices before the July 4 weekend.\u00a0<\/span><\/p>\n

But a gas tax holiday would require Congressional approval.\u00a0<\/span><\/p>\n

A gas tax holiday would eliminate some funding for the massive infrastructure law Biden signed last year.\u00a0<\/span><\/p>\n

Gas Prices Continue To Cool<\/strong><\/h2>\n

The average U.S. gas price is continuing to cool after peaking last week.<\/span><\/p>\n

AAA<\/span><\/a> shows the national average for regular gas fell to $4.968\/gal today, down from the record $5.016\/gal a week ago.\u00a0<\/span><\/p>\n

Diesel prices also slipped today after peaking over the weekend.\u00a0<\/span><\/p>\n

The national average for slipped to $5.812\/gal today from the record-high $5.816\/gal on Sunday.<\/span><\/p>\n

Oil Prices Rise On High Demand, Tight Supply<\/strong><\/h2>\n

Oil prices are rising today as high summer demand weighs on tight supply issues.<\/span><\/p>\n

West Texas Intermediate crude futures are up 2.5% at just under $111 bbl while Brent crude futures are up 1.8% at over $116 bbl.\u00a0<\/span><\/p>\n

Analysts say oil demand has remained solid despite recent concerns about economic growth.\u00a0<\/span><\/p>\n

Elon Musk Clarifies Tesla Layoff Plan<\/strong><\/h2>\n

Speaking at a Bloomberg event today, <\/span>Tesla <\/b>(TSLA) CEO Elon Musk clarified layoff plans at the automaker.\u00a0<\/span><\/p>\n

Musk said the company will layoff 10% of salaried workers in the next three months and simultaneously expand the number of hourly employees.<\/span><\/p>\n

A leaked email to employees last week said he simply wanted to cut 10% of jobs because he had a \u201csuper bad feeling\u201d about the economy.<\/span><\/p>\n

The cuts will end up affecting about 3.5% of Tesla\u2019s overall workforce.\u00a0<\/span><\/p>\n

Tesla shares are up 3% ahead of the open.\u00a0<\/span><\/p>\n

Kellogg To Split Into 3 Companies<\/strong><\/h2>\n

Kellogg <\/b>(K) shares are jumping 6.6% in premarket trade after <\/span>announcing<\/span><\/a> plans to split into three independent companies.\u00a0<\/span><\/p>\n

Those will include a snacking, cereal, and plant-based company.\u00a0<\/span><\/p>\n

Kellogg\u2019s CEO said, \u201cThese businesses all have significant standalone potential, and an enhanced focus will enable them to better direct their resources toward their distinct strategic priorities.\u201d<\/span><\/p>\n

The company expects the spinoffs to be complete by the end of 2023.<\/span><\/p>\n

The current CEO will lead the snacking company and executives for the other two will be announced at later dates.\u00a0<\/span><\/p>\n

JetBlue Sweetens Spirit Buyout Offer\u00a0<\/strong><\/h2>\n

Spirit Airlines <\/b>(SAVE) shares are rallying 8.4% ahead of the open after <\/span>JetBlue<\/b> (JBLU) upped its buyout offer for the discount airline.\u00a0<\/span><\/p>\n

JetBlue raised its offer to $33.50 a share from $31.50.\u00a0<\/span><\/p>\n

The new offer is an effort to push Spirit into accepting this offer over the <\/span>Frontier <\/b>(ULCC) merger.\u00a0<\/span><\/p>\n

Spirit has said it will decide between the two by the end of June.<\/span>In Case You Missed It<\/span><\/p>\n

    \n
  • Pixar\u2019s \u201cLightyear\u201d had the best animated domestic opening since the beginning of the pandemic. The film brought in $51 million in domestic ticket sales over the weekend and $34.6 million in international ticket sales. Although that was the strongest animated film opening since before the pandemic, it fell short of analysts\u2019 expectations for $70 million to $85 million domestically. Universal\u2019s \u201cJurassic World: Dominion\u201d brought in $58.6 million over the weekend while Paramount\u2019s \u201cTop Gun: Maverick\u201d sold $44 million in tickets.<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"

    DJIA Futures: +417 (+1.4%) SPX Futures: +58 (+1.6%) NASDAQ Futures: +182 (+1.6%) Good morning friends! Futures are rebounding after the market suffered its worst week since 2020. Let\u2019s get right to it! Biden Considers Gas Tax Holiday President Biden told reporters Monday he is strongly considering a federal gas tax holiday. He said he could make a decision on that proposal by the end of this week. The White House is aiming to do something to lower gas prices before the July 4 weekend.\u00a0 But a gas tax holiday would require Congressional approval.\u00a0 A gas tax holiday would eliminate some funding for the massive infrastructure law Biden signed last year.\u00a0 Gas Prices Continue To Cool The average U.S. gas price is continuing to cool after peaking last week. AAA shows the national average for regular gas fell to $4.968\/gal today, down from the record $5.016\/gal a week ago.\u00a0 Diesel prices also slipped today after peaking over the weekend.\u00a0 The national average for slipped to $5.812\/gal today from the record-high $5.816\/gal on Sunday. Oil Prices Rise On High Demand, Tight Supply Oil prices are rising today as high summer demand weighs on tight supply issues. West Texas Intermediate crude futures are up 2.5% at just under $111 bbl while Brent crude futures are up 1.8% at over $116 bbl.\u00a0 Analysts say oil demand has remained solid despite recent concerns about economic growth.\u00a0 Elon Musk Clarifies Tesla Layoff Plan Speaking at a Bloomberg event today, Tesla (TSLA) CEO Elon Musk clarified layoff plans at the automaker.\u00a0 Musk said the company will layoff 10% of salaried workers in the next three months and simultaneously expand the number of hourly employees. A leaked email to employees last week said he simply wanted to cut 10% of jobs because he had a \u201csuper bad feeling\u201d about the economy. The cuts will end up affecting about 3.5% of Tesla\u2019s overall workforce.\u00a0 Tesla shares are up 3% ahead of the open.\u00a0 Kellogg To Split Into 3 Companies Kellogg (K) shares are jumping 6.6% in premarket trade after announcing plans to split into three independent companies.\u00a0 Those will include a snacking, cereal, and plant-based company.\u00a0 Kellogg\u2019s CEO said, \u201cThese businesses all have significant standalone potential, and an enhanced focus will enable them to better direct their resources toward their distinct strategic priorities.\u201d The company expects the spinoffs to be complete by the end of 2023. The current CEO will lead the snacking company and executives for the other two will be announced at later dates.\u00a0 JetBlue Sweetens Spirit Buyout Offer\u00a0 Spirit Airlines (SAVE) shares are rallying 8.4% ahead of the open after JetBlue (JBLU) upped its buyout offer for the discount airline.\u00a0 JetBlue raised its offer to $33.50 a share from $31.50.\u00a0 The new offer is an effort to push Spirit into accepting this offer over the Frontier (ULCC) merger.\u00a0 Spirit has said it will decide between the two by the end of June.In Case You Missed It Pixar\u2019s \u201cLightyear\u201d had the best animated domestic opening since the beginning of the pandemic. The film brought in $51 million in domestic ticket sales over the weekend and $34.6 million in international ticket sales. Although that was the strongest animated film opening since before the pandemic, it fell short of analysts\u2019 expectations for $70 million to $85 million domestically. Universal\u2019s \u201cJurassic World: Dominion\u201d brought in $58.6 million over the weekend while Paramount\u2019s \u201cTop Gun: Maverick\u201d sold $44 million in tickets.<\/p>\n","protected":false},"author":41,"featured_media":62015,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-62012","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\/62012","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=62012"}],"version-history":[{"count":2,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/62012\/revisions"}],"predecessor-version":[{"id":62019,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/62012\/revisions\/62019"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/62015"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=62012"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=62012"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=62012"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}