{"id":64111,"date":"2022-10-04T08:57:15","date_gmt":"2022-10-04T12:57:15","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=64111"},"modified":"2022-10-04T08:57:15","modified_gmt":"2022-10-04T12:57:15","slug":"coffee-with-greta-traders-extend-mondays-relief-rally","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2022\/10\/04\/coffee-with-greta-traders-extend-mondays-relief-rally\/","title":{"rendered":"Coffee With Greta: Traders Extend Monday\u2019s Relief Rally"},"content":{"rendered":"

DJIA Futures: <\/b>+359 (+1.2%)<\/span><\/p>\n

SPX Futures: <\/b>+55 (+1.5%)<\/span><\/p>\n

NASDAQ Futures: <\/b>+203 (+1.8%)<\/span><\/p>\n

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

Futures are up following Monday\u2019s big relief rally.<\/span><\/p>\n

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

Traders Look to Extend Rally<\/span><\/h2>\n

Stocks are set to rally at the open after surging on Monday.\u00a0<\/span><\/p>\n

The <\/span>Dow Jones <\/b>jumped 2.7% on Monday for its best day since June 24.\u00a0<\/span><\/p>\n

The <\/span>S&P 500<\/b> rose 2.6%, its best day since July 27.<\/span><\/p>\n

And the <\/span>Nasdaq <\/b>closed up 2.3%.\u00a0<\/span><\/p>\n

Many analysts expect volatility to continue in the weeks ahead as the Fed continues its aggressive campaign against inflation.\u00a0<\/span><\/p>\n

Treasury Yields Slide Further<\/span><\/h2>\n

Treasury yields are sliding again today as stocks rally.\u00a0<\/span><\/p>\n

The 2-year yield is down 5 basis points to 4.06% while the 10-year yield is down 4 basis points to 3.60%.\u00a0<\/span><\/p>\n

Yields seem to have hit a ceiling last week when the 10-year briefly topped 4% before retreating.\u00a0<\/span><\/p>\n

Sentiment across the market seems to be leaning toward a Fed pivot in the near future.\u00a0<\/span><\/p>\n

Several Fed officials will speak today and give more insight into whether that is an appropriate anticipation from the market.<\/span><\/p>\n

Rivian On Pace for 2022 Production Goal<\/span><\/h2>\n

Rivian <\/b>(RIVN) shares are up 7.4% after reporting Q3 production data on Monday.\u00a0<\/span><\/p>\n

The electric automaker said it produced 7,363 vehicles last quarter, its highest quarterly total yet.\u00a0<\/span><\/p>\n

The company delivered 6,584 vehicles to customers during the quarter.\u00a0<\/span><\/p>\n

Rivian confirmed it\u2019s on track to produce 25,000 vehicles in 2022.<\/span><\/p>\n

Year to date the automaker has produced 14,317 vehicles.\u00a0\u00a0<\/span><\/p>\n

Poshmark Rallies On Takeover Deal<\/span><\/h2>\n

Poshmark <\/b>(POSH) shares are rallying 13.5% in premarket trade after South Korean internet giant Naver announced it will buy the company for roughly $1.2 billion.\u00a0<\/span><\/p>\n

Naver will pay $17.90 per share for Poshmark.\u00a0<\/span><\/p>\n

The companies said this deal will widen Naver\u2019s reach in online retail and allow Poshmark to expand to international markets.<\/span><\/p>\n

Poshmark went public in January 2021 at $42 a share but has since tumbled alongside the rest of the tech sector.\u00a0<\/span><\/p>\n

Oil Prices Rise Ahead of OPEC+ Meeting<\/span><\/h2>\n

Oil prices are rising further ahead of Wednesday\u2019s OPEC+ meeting.\u00a0<\/span><\/p>\n

West Texas Intermediate crude futures are up 1.9% to over $85 bbl while Brent crude futures are up 2.1% to just under $91 bbl.<\/span><\/p>\n

OPEC+ is expected to cut output by more than 1 million barrels per day on Wednesday.\u00a0<\/span><\/p>\n

But the impact of that cut may not be that severe as the group has failed to meet its planned production increases in recent months.<\/span><\/p>\n

Production fell short by 3.6 million bpd in August.\u00a0<\/span><\/p>\n

In Case You Missed It<\/span><\/h2>\n
    \n
  • General Motors <\/b>(GM) shares rose 2.4% after the automaker reported strong sales growth in Q3. GM sold 555,580 vehicles last quarter, up 24% year over year. That was higher than analysts\u2019 expectations for growth of at least 21.6%. The company said it plans to increase production of its Chevrolet Bolt EV and EUV after selling 14,709 of the vehicles in Q3.\u00a0<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"

    DJIA Futures: +359 (+1.2%) SPX Futures: +55 (+1.5%) NASDAQ Futures: +203 (+1.8%) Good morning friends! Futures are up following Monday\u2019s big relief rally. Let\u2019s get right to it! Traders Look to Extend Rally Stocks are set to rally at the open after surging on Monday.\u00a0 The Dow Jones jumped 2.7% on Monday for its best day since June 24.\u00a0 The S&P 500 rose 2.6%, its best day since July 27. And the Nasdaq closed up 2.3%.\u00a0 Many analysts expect volatility to continue in the weeks ahead as the Fed continues its aggressive campaign against inflation.\u00a0 Treasury Yields Slide Further Treasury yields are sliding again today as stocks rally.\u00a0 The 2-year yield is down 5 basis points to 4.06% while the 10-year yield is down 4 basis points to 3.60%.\u00a0 Yields seem to have hit a ceiling last week when the 10-year briefly topped 4% before retreating.\u00a0 Sentiment across the market seems to be leaning toward a Fed pivot in the near future.\u00a0 Several Fed officials will speak today and give more insight into whether that is an appropriate anticipation from the market. Rivian On Pace for 2022 Production Goal Rivian (RIVN) shares are up 7.4% after reporting Q3 production data on Monday.\u00a0 The electric automaker said it produced 7,363 vehicles last quarter, its highest quarterly total yet.\u00a0 The company delivered 6,584 vehicles to customers during the quarter.\u00a0 Rivian confirmed it\u2019s on track to produce 25,000 vehicles in 2022. Year to date the automaker has produced 14,317 vehicles.\u00a0\u00a0 Poshmark Rallies On Takeover Deal Poshmark (POSH) shares are rallying 13.5% in premarket trade after South Korean internet giant Naver announced it will buy the company for roughly $1.2 billion.\u00a0 Naver will pay $17.90 per share for Poshmark.\u00a0 The companies said this deal will widen Naver\u2019s reach in online retail and allow Poshmark to expand to international markets. Poshmark went public in January 2021 at $42 a share but has since tumbled alongside the rest of the tech sector.\u00a0 Oil Prices Rise Ahead of OPEC+ Meeting Oil prices are rising further ahead of Wednesday\u2019s OPEC+ meeting.\u00a0 West Texas Intermediate crude futures are up 1.9% to over $85 bbl while Brent crude futures are up 2.1% to just under $91 bbl. OPEC+ is expected to cut output by more than 1 million barrels per day on Wednesday.\u00a0 But the impact of that cut may not be that severe as the group has failed to meet its planned production increases in recent months. Production fell short by 3.6 million bpd in August.\u00a0 In Case You Missed It General Motors (GM) shares rose 2.4% after the automaker reported strong sales growth in Q3. GM sold 555,580 vehicles last quarter, up 24% year over year. That was higher than analysts\u2019 expectations for growth of at least 21.6%. The company said it plans to increase production of its Chevrolet Bolt EV and EUV after selling 14,709 of the vehicles in Q3.\u00a0<\/p>\n","protected":false},"author":41,"featured_media":64115,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-64111","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\/64111","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=64111"}],"version-history":[{"count":2,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/64111\/revisions"}],"predecessor-version":[{"id":64118,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/64111\/revisions\/64118"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/64115"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=64111"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=64111"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=64111"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}