{"id":65008,"date":"2022-11-10T08:58:43","date_gmt":"2022-11-10T13:58:43","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=65008"},"modified":"2022-11-10T08:58:43","modified_gmt":"2022-11-10T13:58:43","slug":"coffee-with-greta-inflation-party-on-wall-street","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2022\/11\/10\/coffee-with-greta-inflation-party-on-wall-street\/","title":{"rendered":"Coffee With Greta: Inflation Party on Wall Street"},"content":{"rendered":"

DJIA Futures: <\/b>+832 (+2.6%)<\/span><\/p>\n

SPX Futures: <\/b>+119 (+3.2%)<\/span><\/p>\n

NASDAQ Futures: <\/b>+438 (+4.1%)<\/span><\/p>\n

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

Futures are surging after the October CPI came in lighter than expected.<\/span><\/p>\n

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

Inflation Cools More Than Expected<\/span><\/h2>\n

U.S. inflation pressures cooled more than expected in October, in a sign the Fed\u2019s rate hikes are starting to impact prices.\u00a0<\/span><\/p>\n

The Bureau of Labor Statistics consumer price index rose 0.4% monthly last month and 7.7% year over year.\u00a0<\/span><\/p>\n

That was cooler than economists\u2019 expectations for a 0.6% monthly gain and 7.9% annual jump.\u00a0<\/span><\/p>\n

That cooldown came despite higher food, gas, and rent prices.\u00a0<\/span><\/p>\n

Grocery prices rose 0.4% monthly, 12.4% annually.\u00a0<\/span><\/p>\n

Gas prices were up 4% monthly, 17.5% annually.\u00a0<\/span><\/p>\n

And rent prices rose 0.8% monthly, 6.9% annually.\u00a0<\/span><\/p>\n

Utility gas prices tumbled 4.6%, used car prices fell 2.4%, and apparel prices were down 0.7%.\u00a0<\/span><\/p>\n

The core CPI, which excludes food and energy prices, was also cooler than expected.\u00a0<\/span><\/p>\n

That index rose 0.3% monthly and 6.3% annually vs 0.5% monthly, 6.5% annually expected.\u00a0<\/span><\/p>\n

Binance Backs Out of FTX Deal<\/span><\/h2>\n

The second-largest crypto exchange in the world is now on the brink of collapse after Binance ditched its plans to acquire FTX.\u00a0<\/span><\/p>\n

The company reversed course on Wednesday after announcing a nonbinding deal on Tuesday to buy FTX amid a \u201csignificant liquidity crunch\u201d at the exchange.\u00a0<\/span><\/p>\n

In a tweet, Binance said, \u201cIn the beginning, our hope was to be able to support FTX\u2019s customers to provide liquidity. But the issues are beyond our control or ability to help.<\/span><\/p>\n

FTX CEO Sam Bankman-Fried has reportedly told investor the company is facing a shortfall of up to $8 billion from withdrawal requests.<\/span><\/p>\n

Rivian Tops Q3 Expectations<\/span><\/h2>\n

Rivian <\/b>(RIVN) shares are rallying 14.8% ahead of the open after reporting a smaller Q3 loss than expected.\u00a0<\/span><\/p>\n

Here\u2019s how the electric truck maker\u2019s results compared to analysts\u2019 estimates:<\/span><\/p>\n

    \n
  • Adjusted loss per share: $1.57 vs $1.82 expected<\/span><\/li>\n
  • Revenue: $536 million vs $551.6 million expected<\/span><\/li>\n<\/ul>\n

    Rivian reaffirmed its full-year production target for 25,000 vehicles.<\/span><\/p>\n

    But the company said it plans to reduce spending, now expecting full-year capital expenditures to total $1.75 billion vs $2 billion guidance after Q2.\u00a0<\/span><\/p>\n

    Rivian said it has over 114,000 preorders for its R1-series trucks and SUVs, up from 98,000 in August.\u00a0<\/span><\/p>\n

    Unity Software Shakes Off Revenue Miss<\/span><\/h2>\n

    Unity Software <\/b>(U) shares are up 10.9% in premarket trade despite reporting less revenue than expected in Q3.<\/span><\/p>\n

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

      \n
    • Adjusted loss per share: $0.14 vs $0.15 expected<\/span><\/li>\n
    • Revenue: $322.9 million vs $326.1 million expected<\/span><\/li>\n<\/ul>\n

      Unity forecast Q4 revenue between $425 million and $445 million.<\/span><\/p>\n

      The company also hiked its full-year outlook, now expecting revenue between $1.37 billion and $1.39 billion vs $1.3 billion to $1.35 billion previously.\u00a0<\/span><\/p>\n

      Beyond Meat Jumps Despite Q3 Miss<\/span><\/h2>\n

      Beyond Meat <\/b>(BYND) shares are up 6.6% ahead of the open despite missing Q3 expectations on the top and bottom line.\u00a0<\/span><\/p>\n

      Here\u2019s how the meat substitute company\u2019s results compared to analysts\u2019 estimates:<\/span><\/p>\n

        \n
      • Loss per share: $1.60 vs $1.14 expected<\/span><\/li>\n
      • Revenue: $82.5 million vs $98.1 million expected<\/span><\/li>\n<\/ul>\n

        Revenue tumbled 22.5% compared to Q3 2021.<\/span><\/p>\n

        The miss prompted Beyond Meat to cut its guidance for the second straight quarter.\u00a0<\/span><\/p>\n

        The company now expects full-year revenue between $400 million and $425 million vs $470 million to $520 million previously. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

        DJIA Futures: +832 (+2.6%) SPX Futures: +119 (+3.2%) NASDAQ Futures: +438 (+4.1%) Good morning friends! Futures are surging after the October CPI came in lighter than expected. Let\u2019s get right to it! Inflation Cools More Than Expected U.S. inflation pressures cooled more than expected in October, in a sign the Fed\u2019s rate hikes are starting to impact prices.\u00a0 The Bureau of Labor Statistics consumer price index rose 0.4% monthly last month and 7.7% year over year.\u00a0 That was cooler than economists\u2019 expectations for a 0.6% monthly gain and 7.9% annual jump.\u00a0 That cooldown came despite higher food, gas, and rent prices.\u00a0 Grocery prices rose 0.4% monthly, 12.4% annually.\u00a0 Gas prices were up 4% monthly, 17.5% annually.\u00a0 And rent prices rose 0.8% monthly, 6.9% annually.\u00a0 Utility gas prices tumbled 4.6%, used car prices fell 2.4%, and apparel prices were down 0.7%.\u00a0 The core CPI, which excludes food and energy prices, was also cooler than expected.\u00a0 That index rose 0.3% monthly and 6.3% annually vs 0.5% monthly, 6.5% annually expected.\u00a0 Binance Backs Out of FTX Deal The second-largest crypto exchange in the world is now on the brink of collapse after Binance ditched its plans to acquire FTX.\u00a0 The company reversed course on Wednesday after announcing a nonbinding deal on Tuesday to buy FTX amid a \u201csignificant liquidity crunch\u201d at the exchange.\u00a0 In a tweet, Binance said, \u201cIn the beginning, our hope was to be able to support FTX\u2019s customers to provide liquidity. But the issues are beyond our control or ability to help. FTX CEO Sam Bankman-Fried has reportedly told investor the company is facing a shortfall of up to $8 billion from withdrawal requests. Rivian Tops Q3 Expectations Rivian (RIVN) shares are rallying 14.8% ahead of the open after reporting a smaller Q3 loss than expected.\u00a0 Here\u2019s how the electric truck maker\u2019s results compared to analysts\u2019 estimates: Adjusted loss per share: $1.57 vs $1.82 expected Revenue: $536 million vs $551.6 million expected Rivian reaffirmed its full-year production target for 25,000 vehicles. But the company said it plans to reduce spending, now expecting full-year capital expenditures to total $1.75 billion vs $2 billion guidance after Q2.\u00a0 Rivian said it has over 114,000 preorders for its R1-series trucks and SUVs, up from 98,000 in August.\u00a0 Unity Software Shakes Off Revenue Miss Unity Software (U) shares are up 10.9% in premarket trade despite reporting less revenue than expected in Q3. Here\u2019s how the software company\u2019s results compared to analysts\u2019 expectations: Adjusted loss per share: $0.14 vs $0.15 expected Revenue: $322.9 million vs $326.1 million expected Unity forecast Q4 revenue between $425 million and $445 million. The company also hiked its full-year outlook, now expecting revenue between $1.37 billion and $1.39 billion vs $1.3 billion to $1.35 billion previously.\u00a0 Beyond Meat Jumps Despite Q3 Miss Beyond Meat (BYND) shares are up 6.6% ahead of the open despite missing Q3 expectations on the top and bottom line.\u00a0 Here\u2019s how the meat substitute company\u2019s results compared to analysts\u2019 estimates: Loss per share: $1.60 vs $1.14 expected Revenue: $82.5 million vs $98.1 million expected Revenue tumbled 22.5% compared to Q3 2021. The miss prompted Beyond Meat to cut its guidance for the second straight quarter.\u00a0 The company now expects full-year revenue between $400 million and $425 million vs $470 million to $520 million previously.<\/p>\n","protected":false},"author":41,"featured_media":65017,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-65008","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\/65008","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=65008"}],"version-history":[{"count":2,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/65008\/revisions"}],"predecessor-version":[{"id":65019,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/65008\/revisions\/65019"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/65017"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=65008"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=65008"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=65008"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}