{"id":64244,"date":"2022-10-10T08:58:50","date_gmt":"2022-10-10T12:58:50","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=64244"},"modified":"2022-10-10T08:58:50","modified_gmt":"2022-10-10T12:58:50","slug":"coffee-with-greta-inflation-jitters-grip-traders","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2022\/10\/10\/coffee-with-greta-inflation-jitters-grip-traders\/","title":{"rendered":"Coffee With Greta: Inflation Jitters Grip Traders"},"content":{"rendered":"

DJIA Futures: <\/b>+32 (+0.1%)<\/span><\/p>\n

SPX Futures: <\/b>+1 (+0.03%)<\/span><\/p>\n

NASDAQ Futures: <\/b>-11 (-0.1%)<\/span><\/p>\n

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

Futures are flat as traders gear up for a big week of inflation data and the beginning of Q3 earnings season.<\/span><\/p>\n

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

Inflation Week Begins<\/span><\/h2>\n

This is a key week of economic data for the market as traders look ahead to the latest inflation data.\u00a0<\/span><\/p>\n

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

Economists expect the CPI to show inflation pressures rose 0.3% monthly and 8.1% year over year.<\/span><\/p>\n

The core CPI is expected to have risen 0.5% monthly and 6.6% annually.\u00a0<\/span><\/p>\n

The market is looking for a slowdown in inflation to force a Fed pivot on rate hikes earlier than planned.\u00a0<\/span><\/p>\n

But officials have insisted in recent speeches that the Central Bank will stay its course even if it pushes the economy into a recession.\u00a0<\/span><\/p>\n

Several more Fed officials will speak at events this week including Chicago Fed President Charles Evans and Fed Vice Chair Lael Brainard today.\u00a0<\/span><\/p>\n

Rivian Issues Massive Recall<\/span><\/h2>\n

Rivian <\/b>(RIVN) shares are tumbling 6.5% ahead of the open after issuing a massive recall over the weekend.\u00a0<\/span><\/p>\n

The electric automaker voluntarily recalled 13,000 vehicles due to a loose fastener that could cause a driver to lose steering control.\u00a0<\/span><\/p>\n

The company has produced just 14,317 vehicles this year, meaning the recall impacts nearly all of the already delivered vehicles.\u00a0<\/span><\/p>\n

Rivian\u2019s CEO sent a letter to customers saying, \u201cIn rare circumstances, the nut could loosen fully\u2026 It\u2019s important not to minimize the potential risks involved and why we are volunteering to conduct this recall.\u201d<\/span><\/p>\n

Tesla\u2019s China Sales Hit Record<\/span><\/h2>\n

Tesla <\/b>(TSLA) shares are up 0.1% in premarket trade after reporting record-high China sales.\u00a0<\/span><\/p>\n

The China Passenger Car Association said the electric automaker sold 83,135 of its China-made vehicles in wholesale in September.<\/span><\/p>\n

That was up 8% from August and a record for Tesla.<\/span><\/p>\n

Tesla produces the Model 3 and Model Y vehicles at the Shanghai plant.\u00a0<\/span><\/p>\n

Oil Prices Dip<\/span><\/h2>\n

Oil prices are taking a breather, slipping from 5-week highs.<\/span><\/p>\n

West Texas Intermediate crude futures are down 0.4% at $92 bbl while Brent crude futures are down 0.5% to under $97.50 bbl.\u00a0<\/span><\/p>\n

The dip comes after China\u2019s services activity contracted in September for the first time in four months.<\/span><\/p>\n

That slowdown came as fresh Covid restrictions put pressure on the economy.\u00a0<\/span><\/p>\n

China is the world\u2019s second-largest oil consumer and any slowdown in demand will put pressure on oil prices.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

DJIA Futures: +32 (+0.1%) SPX Futures: +1 (+0.03%) NASDAQ Futures: -11 (-0.1%) Good morning friends! Futures are flat as traders gear up for a big week of inflation data and the beginning of Q3 earnings season. Let\u2019s get right to it! Inflation Week Begins This is a key week of economic data for the market as traders look ahead to the latest inflation data.\u00a0 The Bureau of Labor Statistics releases the September producer price index on Wednesday morning followed by the consumer price index Thursday morning.\u00a0 Economists expect the CPI to show inflation pressures rose 0.3% monthly and 8.1% year over year. The core CPI is expected to have risen 0.5% monthly and 6.6% annually.\u00a0 The market is looking for a slowdown in inflation to force a Fed pivot on rate hikes earlier than planned.\u00a0 But officials have insisted in recent speeches that the Central Bank will stay its course even if it pushes the economy into a recession.\u00a0 Several more Fed officials will speak at events this week including Chicago Fed President Charles Evans and Fed Vice Chair Lael Brainard today.\u00a0 Rivian Issues Massive Recall Rivian (RIVN) shares are tumbling 6.5% ahead of the open after issuing a massive recall over the weekend.\u00a0 The electric automaker voluntarily recalled 13,000 vehicles due to a loose fastener that could cause a driver to lose steering control.\u00a0 The company has produced just 14,317 vehicles this year, meaning the recall impacts nearly all of the already delivered vehicles.\u00a0 Rivian\u2019s CEO sent a letter to customers saying, \u201cIn rare circumstances, the nut could loosen fully\u2026 It\u2019s important not to minimize the potential risks involved and why we are volunteering to conduct this recall.\u201d Tesla\u2019s China Sales Hit Record Tesla (TSLA) shares are up 0.1% in premarket trade after reporting record-high China sales.\u00a0 The China Passenger Car Association said the electric automaker sold 83,135 of its China-made vehicles in wholesale in September. That was up 8% from August and a record for Tesla. Tesla produces the Model 3 and Model Y vehicles at the Shanghai plant.\u00a0 Oil Prices Dip Oil prices are taking a breather, slipping from 5-week highs. West Texas Intermediate crude futures are down 0.4% at $92 bbl while Brent crude futures are down 0.5% to under $97.50 bbl.\u00a0 The dip comes after China\u2019s services activity contracted in September for the first time in four months. That slowdown came as fresh Covid restrictions put pressure on the economy.\u00a0 China is the world\u2019s second-largest oil consumer and any slowdown in demand will put pressure on oil prices.\u00a0<\/p>\n","protected":false},"author":41,"featured_media":64246,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-64244","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\/64244","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=64244"}],"version-history":[{"count":1,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/64244\/revisions"}],"predecessor-version":[{"id":64247,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/64244\/revisions\/64247"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/64246"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=64244"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=64244"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=64244"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}