{"id":65048,"date":"2022-11-15T09:00:32","date_gmt":"2022-11-15T14:00:32","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=65048"},"modified":"2022-11-15T09:00:32","modified_gmt":"2022-11-15T14:00:32","slug":"coffee-with-greta-inflation-party-2","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2022\/11\/15\/coffee-with-greta-inflation-party-2\/","title":{"rendered":"Coffee With Greta: Inflation Party 2.0"},"content":{"rendered":"

DJIA Futures: <\/b>+348 (+1%)<\/span><\/p>\n

SPX Futures: <\/b>+73 (+1.8%)<\/span><\/p>\n

NASDAQ Futures: <\/b>+331 (+2.8%)<\/span><\/p>\n

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

Futures are rallying after another inflation report shows price pressures are cooling.\u00a0<\/span><\/p>\n

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

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

Wholesale inflation pressures cooled more than expected in October.\u00a0<\/span><\/p>\n

The Bureau of Labor Statistics\u2019 producer price index rose 0.2% monthly vs 0.4% expected.\u00a0<\/span><\/p>\n

The PPI rose 8% annually vs expectations for an 8.4% increase.<\/span><\/p>\n

The Core PPI \u2013 which excludes food, energy, and trade services \u2013 rose 0.2% monthly and 5.4% year over year.\u00a0<\/span><\/p>\n

PPI is considered a leading indicator for CPI as prices are passed down to consumers.\u00a0<\/span><\/p>\n

This data is another sign the Fed\u2019s rate hikes are working to cool inflation.\u00a0<\/span><\/p>\n

CME Group\u2019s <\/span>FedWatch<\/span><\/a> Tool shows 83% of traders expecting the bank to approve a 50bps rate hike in December.<\/span><\/p>\n

Walmart Beats Fiscal Q3 Estimates, Hikes Outlook<\/span><\/h2>\n

Walmart <\/b>(WMT) shares are up 7.7% ahead of the open after beating fiscal Q3 expectations and raising its outlook.<\/span><\/p>\n

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

    \n
  • Adjusted EPS: $1.50 vs $1.32 expected<\/span><\/li>\n
  • Revenue: $152.81 billion vs $147.75 billion expected<\/span><\/li>\n<\/ul>\n

    Walmart\u2019s CFO said consumers have shifted their spending to less-expensive options as \u201cpocketbooks are stretched\u201d.\u00a0<\/span><\/p>\n

    The company also made progress on clearing excess inventory during the quarter.\u00a0<\/span><\/p>\n

    Walmart\u2019s inventory was up 13% year over year last quarter, down from 25% in Q2 and 32% in Q1.\u00a0<\/span><\/p>\n

    Comparable sales rose 8.2% year over year vs 3.6% expected while Sam\u2019s Club comparable sales jumped 10% vs 8.7% expected.\u00a0<\/span><\/p>\n

    The company expects that growth to slow to 3% in Q4 vs analysts\u2019 expectations for 3.5%.\u00a0<\/span><\/p>\n

    Walmart also forecast adjusted EPS will drop by 3% to 5% in Q4 due to the impact of currency fluctuations.<\/span><\/p>\n

    Home Depot Slips Despite Earnings Beat<\/span><\/h2>\n

    Home Depot <\/b>(HD) shares are slipping 0.8% in premarket trade despite topping Q3 expectations.\u00a0<\/span><\/p>\n

    Here\u2019s how the home improvement retailer\u2019s results compared to analysts\u2019 expectations:<\/span><\/p>\n

      \n
    • EPS: $4.24 vs $4.12 expected<\/span><\/li>\n
    • Revenue: $38.87 billion vs $37.96 billion expected<\/span><\/li>\n<\/ul>\n

      Revenue was up 6% year over year.<\/span><\/p>\n

      Home Depot reiterated its full-year guidance, expecting EPS growth in the mid-single digits next quarter.\u00a0<\/span><\/p>\n

      The company said customer transactions fell about 4% but average ticket prices rose 9% as shoppers paid higher prices.<\/span><\/p>\n

      Empire State Manufacturing Index Turns Positive<\/span><\/h2>\n

      The New York Fed\u2019s factory gauge jumped more than expected this month.\u00a0<\/span><\/p>\n

      The Empire State Manufacturing Index rose 13.6 points to 4.5, the first positive reading since July.\u00a0<\/span><\/p>\n

      That beat economists\u2019 expectations for a reading of -6.\u00a0<\/span><\/p>\n

      That jump came as the shipments index rose 8.3 points to 8.\u00a0<\/span><\/p>\n

      Unfilled orders also slipped 3.1% to -6.8, in a sign that metric is improving.\u00a0<\/span><\/p>\n

      Labor market conditions rose solidly and the price indices were flat.\u00a0<\/span><\/p>\n

      But manufacturers were more pessimistic about the next 6 months with the future business conditions index falling 4 points to -6.1.<\/span><\/p>\n

      This index is considered a barometer for the broader U.S. manufacturing sector.\u00a0<\/span><\/p>\n

      Lucid Unveils Lower-Cost Car<\/span><\/h2>\n

      Lucid <\/b>(LCID) shares are up 3.7% ahead of the open after the electric automaker unveiled new Air sedan models, including a new lower-cost option.\u00a0<\/span><\/p>\n

      The CEO told CNBC the new Lucid Air Pure will start at $87,400.<\/span><\/p>\n

      An all-wheel-drive version with a 410-mile range is expected to ship by the end of this year with the rear-wheel-drive version arriving in 2023.\u00a0<\/span><\/p>\n

      Lucid also unveiled a new Air Touring model with all-wheel-drive, 620 horsepower, and a 425 mile range.\u00a0<\/span><\/p>\n

      That model will start at $107,400 with deliveries beginning shortly.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

      DJIA Futures: +348 (+1%) SPX Futures: +73 (+1.8%) NASDAQ Futures: +331 (+2.8%) Good morning friends! Futures are rallying after another inflation report shows price pressures are cooling.\u00a0 Let\u2019s get right to it! Wholesale Inflation Cools More Than Expected Wholesale inflation pressures cooled more than expected in October.\u00a0 The Bureau of Labor Statistics\u2019 producer price index rose 0.2% monthly vs 0.4% expected.\u00a0 The PPI rose 8% annually vs expectations for an 8.4% increase. The Core PPI \u2013 which excludes food, energy, and trade services \u2013 rose 0.2% monthly and 5.4% year over year.\u00a0 PPI is considered a leading indicator for CPI as prices are passed down to consumers.\u00a0 This data is another sign the Fed\u2019s rate hikes are working to cool inflation.\u00a0 CME Group\u2019s FedWatch Tool shows 83% of traders expecting the bank to approve a 50bps rate hike in December. Walmart Beats Fiscal Q3 Estimates, Hikes Outlook Walmart (WMT) shares are up 7.7% ahead of the open after beating fiscal Q3 expectations and raising its outlook. Here\u2019s how the retailer\u2019s results compared to analysts\u2019 expectations: Adjusted EPS: $1.50 vs $1.32 expected Revenue: $152.81 billion vs $147.75 billion expected Walmart\u2019s CFO said consumers have shifted their spending to less-expensive options as \u201cpocketbooks are stretched\u201d.\u00a0 The company also made progress on clearing excess inventory during the quarter.\u00a0 Walmart\u2019s inventory was up 13% year over year last quarter, down from 25% in Q2 and 32% in Q1.\u00a0 Comparable sales rose 8.2% year over year vs 3.6% expected while Sam\u2019s Club comparable sales jumped 10% vs 8.7% expected.\u00a0 The company expects that growth to slow to 3% in Q4 vs analysts\u2019 expectations for 3.5%.\u00a0 Walmart also forecast adjusted EPS will drop by 3% to 5% in Q4 due to the impact of currency fluctuations. Home Depot Slips Despite Earnings Beat Home Depot (HD) shares are slipping 0.8% in premarket trade despite topping Q3 expectations.\u00a0 Here\u2019s how the home improvement retailer\u2019s results compared to analysts\u2019 expectations: EPS: $4.24 vs $4.12 expected Revenue: $38.87 billion vs $37.96 billion expected Revenue was up 6% year over year. Home Depot reiterated its full-year guidance, expecting EPS growth in the mid-single digits next quarter.\u00a0 The company said customer transactions fell about 4% but average ticket prices rose 9% as shoppers paid higher prices. Empire State Manufacturing Index Turns Positive The New York Fed\u2019s factory gauge jumped more than expected this month.\u00a0 The Empire State Manufacturing Index rose 13.6 points to 4.5, the first positive reading since July.\u00a0 That beat economists\u2019 expectations for a reading of -6.\u00a0 That jump came as the shipments index rose 8.3 points to 8.\u00a0 Unfilled orders also slipped 3.1% to -6.8, in a sign that metric is improving.\u00a0 Labor market conditions rose solidly and the price indices were flat.\u00a0 But manufacturers were more pessimistic about the next 6 months with the future business conditions index falling 4 points to -6.1. This index is considered a barometer for the broader U.S. manufacturing sector.\u00a0 Lucid Unveils Lower-Cost Car Lucid (LCID) shares are up 3.7% ahead of the open after the electric automaker unveiled new Air sedan models, including a new lower-cost option.\u00a0 The CEO told CNBC the new Lucid Air Pure will start at $87,400. An all-wheel-drive version with a 410-mile range is expected to ship by the end of this year with the rear-wheel-drive version arriving in 2023.\u00a0 Lucid also unveiled a new Air Touring model with all-wheel-drive, 620 horsepower, and a 425 mile range.\u00a0 That model will start at $107,400 with deliveries beginning shortly.\u00a0<\/p>\n","protected":false},"author":41,"featured_media":65051,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-65048","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\/65048","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=65048"}],"version-history":[{"count":2,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/65048\/revisions"}],"predecessor-version":[{"id":65053,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/65048\/revisions\/65053"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/65051"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=65048"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=65048"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=65048"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}