{"id":63503,"date":"2022-08-22T08:55:56","date_gmt":"2022-08-22T12:55:56","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=63503"},"modified":"2022-08-22T08:55:56","modified_gmt":"2022-08-22T12:55:56","slug":"coffee-with-greta-traders-look-ahead-to-jackson-hole","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2022\/08\/22\/coffee-with-greta-traders-look-ahead-to-jackson-hole\/","title":{"rendered":"Coffee With Greta: Traders Look Ahead to Jackson Hole"},"content":{"rendered":"

DJIA Futures: <\/b>-342 (-1%)<\/span><\/p>\n

SPX Futures: <\/b>-52 (-1.2%)<\/span><\/p>\n

NASDAQ Futures: <\/b>-202 (-1.5%)<\/span><\/p>\n

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

Futures are dropping as traders look ahead to Fed Chair Jerome Powell\u2019s speech at the Jackson Hole Symposium this week.<\/span><\/p>\n

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

Economy, Fed\u2019s Jackson Hole Symposium in Focus<\/span><\/h2>\n

Inflation and the Fed are back in focus this week ahead of some key economic data and a speech from Fed Chair Jerome Powell.\u00a0<\/span><\/p>\n

The Commerce Department releases its second estimate of Q2 GDP on Thursday after the first showed the economy shrank 0.9% last quarter.\u00a0<\/span><\/p>\n

Economists expect the revision to show a 0.5% contraction.\u00a0<\/span><\/p>\n

The Bureau of Economic Analysis then releases the July PCE Price Index on Friday, which is the Fed\u2019s preferred inflation gauge.<\/span><\/p>\n

Powell will also speak at the Jackson Hole Symposium on Friday.\u00a0<\/span><\/p>\n

The market is anticipating he will sound more hawkish during that speech than he did at his press conference following the last Fed meeting.<\/span><\/p>\n

The bank is expected to continue aggressive rate hikes until they see a meaningful reduction in inflation.\u00a0<\/span><\/p>\n

AMC Shares Tank on Cineworld Bankruptcy Warning<\/span><\/h2>\n

AMC Entertainment <\/b>(AMC) shares are plunging 37.9% ahead of the open after rival Cineworld said today it is considering filing for bankruptcy.<\/span><\/p>\n

Cineworld Group, which owns Regal Cinemas in the U.S., said, \u201cThe strategic options through which Cineworld may achieve its restructuring objectives include a possible voluntary Chapter 11 filing in the United States and associated ancillary proceedings in other jurisdictions as part of an orderly implementation process.\u201d<\/span><\/p>\n

The company added that any filing\u00a0 \u201cwould be expected to allow the group to access near-term liquidity and support the orderly implementation of a fully funded deleveraging transaction.\u201d<\/span><\/p>\n

AMC also debuted its new class of preferred shares \u201cAPE\u201d units today.<\/span><\/p>\n

In a tweet Sunday, the CEO reminded shareholders, \u201cthe value of your AMC investment will be the combination of your AMC shares and your new APE units. An AMC share plus a new APE unit added together \u2014 compared to just an AMC share previously.\u201d<\/span><\/p>\n

<\/span><\/p>\n

Bed Bath & Beyond Continues to Tumble<\/span><\/h2>\n

Bed Bath & Beyond <\/b>(BBBY) shares are tumbling 17.1% in premarket trade, after plummeting 40.5% on Friday.\u00a0<\/span><\/p>\n

The recent drop comes after <\/span>GameStop <\/b>(GME) Chairman Ryan Cohen sold off his entire stake in the retailer.\u00a0<\/span><\/p>\n

Bloomberg also <\/span>reported<\/span><\/a> over the weekend that some suppliers are restricting or halting shipments to Bed Bath & Beyond after the company fell behind on payments.<\/span><\/p>\n

Tesla to Hike Price of Full Self Driving Software<\/span><\/h2>\n

Tesla <\/b>(TSLA) shares are slipping 2.7% ahead of the open after after CEO Elon Musk announced the company will hike prices for its full self driving software.\u00a0<\/span><\/p>\n

In a <\/span>tweet<\/span><\/a> Sunday, Musk said, \u201cAfter wide release of FSD Beta 10.69.2, price of FSD will rise to $15k in North America on September 5th. Current price will be honored for orders made before Sept 5th, but delivered later.\u201d<\/span><\/p>\n

Customers can currently pay $12,000 upfront for FSD or $199 per month on a subscription basis.\u00a0<\/span><\/p>\n

Musk did not address whether the subscription price would change.<\/span><\/p>\n

Oil Prices Slump on Economic Growth Fears, Surging Dollar<\/span><\/h2>\n

Oil prices are lower today on continued fears over a recession and as the dollar surges higher.\u00a0<\/span><\/p>\n

West Texas Intermediate crude futures are down 0.4% to under $90.50 bbl while Brent crude futures are slipping 0.5% to $96 bbl.\u00a0<\/span><\/p>\n

The U.S. dollar index popped to a five-week high today after hawkish comments from Richmond Fed President Thomas Barkin on Friday.\u00a0<\/span><\/p>\n

Aggressive rate hikes from the Fed are expected to cause a slowdown in economic growth, dragging down oil demand.<\/span><\/p>\n

In Case You Missed It<\/span><\/h2>\n

You can learn how to invest the simple and easy way with my brand new course, <\/span>Today I Learned How to Invest<\/span><\/a>. In just 45 minutes, you can go from a total beginner who knows nothing to someone who\u2019s ready to buy their first stock. Start building the massive nest egg you deserve today!<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

DJIA Futures: -342 (-1%) SPX Futures: -52 (-1.2%) NASDAQ Futures: -202 (-1.5%) Good morning friends! Futures are dropping as traders look ahead to Fed Chair Jerome Powell\u2019s speech at the Jackson Hole Symposium this week. Let\u2019s get right to it! Economy, Fed\u2019s Jackson Hole Symposium in Focus Inflation and the Fed are back in focus this week ahead of some key economic data and a speech from Fed Chair Jerome Powell.\u00a0 The Commerce Department releases its second estimate of Q2 GDP on Thursday after the first showed the economy shrank 0.9% last quarter.\u00a0 Economists expect the revision to show a 0.5% contraction.\u00a0 The Bureau of Economic Analysis then releases the July PCE Price Index on Friday, which is the Fed\u2019s preferred inflation gauge. Powell will also speak at the Jackson Hole Symposium on Friday.\u00a0 The market is anticipating he will sound more hawkish during that speech than he did at his press conference following the last Fed meeting. The bank is expected to continue aggressive rate hikes until they see a meaningful reduction in inflation.\u00a0 AMC Shares Tank on Cineworld Bankruptcy Warning AMC Entertainment (AMC) shares are plunging 37.9% ahead of the open after rival Cineworld said today it is considering filing for bankruptcy. Cineworld Group, which owns Regal Cinemas in the U.S., said, \u201cThe strategic options through which Cineworld may achieve its restructuring objectives include a possible voluntary Chapter 11 filing in the United States and associated ancillary proceedings in other jurisdictions as part of an orderly implementation process.\u201d The company added that any filing\u00a0 \u201cwould be expected to allow the group to access near-term liquidity and support the orderly implementation of a fully funded deleveraging transaction.\u201d AMC also debuted its new class of preferred shares \u201cAPE\u201d units today. In a tweet Sunday, the CEO reminded shareholders, \u201cthe value of your AMC investment will be the combination of your AMC shares and your new APE units. An AMC share plus a new APE unit added together \u2014 compared to just an AMC share previously.\u201d Bed Bath & Beyond Continues to Tumble Bed Bath & Beyond (BBBY) shares are tumbling 17.1% in premarket trade, after plummeting 40.5% on Friday.\u00a0 The recent drop comes after GameStop (GME) Chairman Ryan Cohen sold off his entire stake in the retailer.\u00a0 Bloomberg also reported over the weekend that some suppliers are restricting or halting shipments to Bed Bath & Beyond after the company fell behind on payments. Tesla to Hike Price of Full Self Driving Software Tesla (TSLA) shares are slipping 2.7% ahead of the open after after CEO Elon Musk announced the company will hike prices for its full self driving software.\u00a0 In a tweet Sunday, Musk said, \u201cAfter wide release of FSD Beta 10.69.2, price of FSD will rise to $15k in North America on September 5th. Current price will be honored for orders made before Sept 5th, but delivered later.\u201d Customers can currently pay $12,000 upfront for FSD or $199 per month on a subscription basis.\u00a0 Musk did not address whether the subscription price would change. Oil Prices Slump on Economic Growth Fears, Surging Dollar Oil prices are lower today on continued fears over a recession and as the dollar surges higher.\u00a0 West Texas Intermediate crude futures are down 0.4% to under $90.50 bbl while Brent crude futures are slipping 0.5% to $96 bbl.\u00a0 The U.S. dollar index popped to a five-week high today after hawkish comments from Richmond Fed President Thomas Barkin on Friday.\u00a0 Aggressive rate hikes from the Fed are expected to cause a slowdown in economic growth, dragging down oil demand. In Case You Missed It You can learn how to invest the simple and easy way with my brand new course, Today I Learned How to Invest. In just 45 minutes, you can go from a total beginner who knows nothing to someone who\u2019s ready to buy their first stock. Start building the massive nest egg you deserve today!<\/p>\n","protected":false},"author":41,"featured_media":63505,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-63503","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\/63503","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=63503"}],"version-history":[{"count":2,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/63503\/revisions"}],"predecessor-version":[{"id":63506,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/63503\/revisions\/63506"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/63505"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=63503"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=63503"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=63503"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}