{"id":64948,"date":"2022-11-07T09:02:48","date_gmt":"2022-11-07T14:02:48","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=64948"},"modified":"2022-11-07T09:02:48","modified_gmt":"2022-11-07T14:02:48","slug":"coffee-with-greta-new-week-kicks-off-higher","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2022\/11\/07\/coffee-with-greta-new-week-kicks-off-higher\/","title":{"rendered":"Coffee With Greta: New Week Kicks Off Higher"},"content":{"rendered":"

DJIA Futures: <\/b>+68 (+0.2%)<\/span><\/p>\n

SPX Futures: <\/b>+7 (+0.2%)<\/span><\/p>\n

NASDAQ Futures: <\/b>+26 (+0.2%)<\/span><\/p>\n

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

Futures are higher as traders kick off a new week.<\/span><\/p>\n

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

Apple Drops After iPhone 14 Production Warning<\/span><\/h2>\n

Apple <\/b>(AAPL) shares are down 1.3% ahead of the open after the tech giant said Sunday it has temporarily reduced iPhone 14 production.\u00a0<\/span><\/p>\n

That production cut comes amid Covid-19 restrictions at its main Foxconn plant in China.<\/span><\/p>\n

Apple said the factory is operating at \u201csignificantly reduced capacity\u201d.\u00a0<\/span><\/p>\n

The company said it will ship fewer iPhone 14 units and customers will experience longer wait times.<\/span><\/p>\n

Meta Reportedly Set for Massive Layoffs<\/span><\/h2>\n

Meta <\/b>(META) shares are up 3% in premarket trade following a Wall Street Journal report the company is set to begin large-scale layoffs.\u00a0<\/span><\/p>\n

Those layoffs are reportedly set to begin as soon as Wednesday and are expected to impact thousands of employees.<\/span><\/p>\n

CEO Mark Zuckerberg hinted toward planned layoffs on Meta\u2019s earnings call last month.\u00a0<\/span><\/p>\n

He said, \u201cwe expect to end 2023 as either roughly the same size, or even a slightly smaller organization than we are today.\u201d<\/span><\/p>\n

BioNTech Profit Slides<\/span><\/h2>\n

BioNTech <\/b>(BNTX) shares are down 2.7% ahead of the open despite beating Q3 expectations as profits and sales tumbled year over year.\u00a0<\/span><\/p>\n

Here\u2019s how the German pharmaceutical company\u2019s results compared to analysts\u2019 expectations:<\/span><\/p>\n

    \n
  • EPS: \u20ac6.98 vs \u20ac3.42 expected<\/span><\/li>\n
  • Revenue: \u20ac3.461 billion vs \u20ac2.065 billion expected<\/span><\/li>\n<\/ul>\n

    Both profit and revenue dropped more than 40% compared to a year ago as Covid vaccine sales slowed.\u00a0<\/span><\/p>\n

    But BioNTech did raise its full-year Covid vaccine sales forecast to between \u20ac16 billion and \u20ac17 billion from \u20ac13 billion to \u20ac17 billion previously.\u00a0<\/span><\/p>\n

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

    Traders are focused on inflation this week with the October consumer price index set to be released Thursday morning.\u00a0<\/span><\/p>\n

    That report is expected to show both headline and core inflation pressures slowed last month.\u00a0<\/span><\/p>\n

    The headline CPI is expected to show a 7.9% annual gain while the core CPI is expected to rise 6.5% year over year.\u00a0<\/span><\/p>\n

    Although both would be a slight slowdown from September, that\u2019s still near a 40-year high.\u00a0<\/span><\/p>\n

    Following last week\u2019s rate hike the Fed Chair said it is \u201cpremature\u201d to start thinking about a pause in rate hikes as inflation remains far above the bank\u2019s 2% target.\u00a0<\/span>
    \n<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

    DJIA Futures: +68 (+0.2%) SPX Futures: +7 (+0.2%) NASDAQ Futures: +26 (+0.2%) Good morning friends! Futures are higher as traders kick off a new week. Let\u2019s get right to it! Apple Drops After iPhone 14 Production Warning Apple (AAPL) shares are down 1.3% ahead of the open after the tech giant said Sunday it has temporarily reduced iPhone 14 production.\u00a0 That production cut comes amid Covid-19 restrictions at its main Foxconn plant in China. Apple said the factory is operating at \u201csignificantly reduced capacity\u201d.\u00a0 The company said it will ship fewer iPhone 14 units and customers will experience longer wait times. Meta Reportedly Set for Massive Layoffs Meta (META) shares are up 3% in premarket trade following a Wall Street Journal report the company is set to begin large-scale layoffs.\u00a0 Those layoffs are reportedly set to begin as soon as Wednesday and are expected to impact thousands of employees. CEO Mark Zuckerberg hinted toward planned layoffs on Meta\u2019s earnings call last month.\u00a0 He said, \u201cwe expect to end 2023 as either roughly the same size, or even a slightly smaller organization than we are today.\u201d BioNTech Profit Slides BioNTech (BNTX) shares are down 2.7% ahead of the open despite beating Q3 expectations as profits and sales tumbled year over year.\u00a0 Here\u2019s how the German pharmaceutical company\u2019s results compared to analysts\u2019 expectations: EPS: \u20ac6.98 vs \u20ac3.42 expected Revenue: \u20ac3.461 billion vs \u20ac2.065 billion expected Both profit and revenue dropped more than 40% compared to a year ago as Covid vaccine sales slowed.\u00a0 But BioNTech did raise its full-year Covid vaccine sales forecast to between \u20ac16 billion and \u20ac17 billion from \u20ac13 billion to \u20ac17 billion previously.\u00a0 Inflation Week Traders are focused on inflation this week with the October consumer price index set to be released Thursday morning.\u00a0 That report is expected to show both headline and core inflation pressures slowed last month.\u00a0 The headline CPI is expected to show a 7.9% annual gain while the core CPI is expected to rise 6.5% year over year.\u00a0 Although both would be a slight slowdown from September, that\u2019s still near a 40-year high.\u00a0 Following last week\u2019s rate hike the Fed Chair said it is \u201cpremature\u201d to start thinking about a pause in rate hikes as inflation remains far above the bank\u2019s 2% target.\u00a0<\/p>\n","protected":false},"author":41,"featured_media":64963,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-64948","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\/64948","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=64948"}],"version-history":[{"count":2,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/64948\/revisions"}],"predecessor-version":[{"id":64966,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/64948\/revisions\/64966"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/64963"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=64948"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=64948"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=64948"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}