{"id":65548,"date":"2022-12-16T08:59:40","date_gmt":"2022-12-16T13:59:40","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=65548"},"modified":"2022-12-16T08:59:40","modified_gmt":"2022-12-16T13:59:40","slug":"coffee-with-greta-stocks-are-free-free-fallin","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2022\/12\/16\/coffee-with-greta-stocks-are-free-free-fallin\/","title":{"rendered":"Coffee With Greta: Stocks Are Free, Free Fallin\u2019"},"content":{"rendered":"

DJIA Futures: <\/b>-377 (-1.1%)<\/span><\/p>\n

SPX Futures: <\/b>-41 (-1.1%)<\/span><\/p>\n

NASDAQ Futures:<\/b> -68 (-0.6%)<\/span><\/p>\n

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

Futures are sliding as recession fears grip traders.<\/span><\/p>\n

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

Wall Street Selloff Continues<\/span><\/h2>\n

Recession fears have taken over Wall Street and stocks are continuing to tumble.<\/span><\/p>\n

The major indexes are all sliding further in premarket action after dropping sharply on Thursday.\u00a0\u00a0<\/span><\/p>\n

The <\/span>Dow Jones <\/b>dropped 764 points or 2.25% on Thursday, its worst daily performance since September.\u00a0<\/span><\/p>\n

The <\/span>S&P 500 <\/b>and the <\/span>Nasdaq <\/b>fell 2.49% and 3.23% respectively.\u00a0<\/span><\/p>\n

All three are on track to notch a second straight week of losses.\u00a0<\/span><\/p>\n

Trading is also expected to be volatile today with a large amount of options set to expire.\u00a0<\/span><\/p>\n

$2.6 trillion worth of index options are set to expire today, which Goldman Sachs says is the highest amount \u201crelative to the size of the equity market in nearly two years.\u201d<\/span><\/p>\n

Adobe Jumps On Strong Earnings<\/span><\/h2>\n

Adobe <\/b>(ADBE) shares are up 5.3% ahead of the open after beating fiscal Q4 expectations.\u00a0<\/span><\/p>\n

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

    \n
  • Adjusted EPS: $3.60 vs $3.50 expected<\/span><\/li>\n
  • Revenue: $4.53 billion as expected<\/span><\/li>\n<\/ul>\n

    Revenue grew 10% year over year, down from 13% growth the previous quarter.\u00a0<\/span><\/p>\n

    The CEO said, \u201cWe delivered record operating cash flows with a focus on profitability.\u201d<\/span><\/p>\n

    For fiscal Q1, Adobe forecast $3.65 to $3.70 in adjusted EPS on $4.60 billion to $4.64 billion in revenue.\u00a0<\/span><\/p>\n

    That topped analysts\u2019 expectations of $3.64 in adjusted EPS on $4.64 billion in revenue.<\/span><\/p>\n

    Safety Regulators Investigate GM\u2019s Self-Driving System<\/span><\/h2>\n

    General Motors <\/b>(GM) shares are slipping 1.5% in premarket trade after U.S. safety regulators opened a formal investigation into the company\u2019s autonomous driving system.\u00a0<\/span><\/p>\n

    The National Highway Traffic Safety Administration (NHTSA) is investigating GM\u2019s self-driving vehicle unit Cruise.<\/span><\/p>\n

    A filing shows NHTSA has received complaints about the vehicles engaging in \u201cinappropriately hard braking\u201d or becoming \u201cimmobilized while operating.\u201d<\/span><\/p>\n

    The regulator said, \u201cThis may introduce multiple potential hazards such as a collision with a Cruise vehicle, risk to a stranded passenger exiting an immobilized Cruise vehicle, or obstruction of other traffic including emergency vehicles.\u201d<\/span><\/p>\n

    NHTSA is investigating about 240 of the vehicles retrofitted with the Cruise software system.\u00a0<\/span><\/p>\n

    Cruise is currently awaiting regulatory approval to expand its robotaxi service in San Francisco.<\/span><\/p>\n

    Coinbase Drops As Crypto Uncertainty Continues<\/span><\/h2>\n

    Coinbase <\/b>(COIN) shares are falling 2.3% ahead of the open as uncertainty and volatility continue in the crypto market.\u00a0<\/span><\/p>\n

    Binance announced today that accounting firm Mazars Group has suspended all work with its crypto clients.\u00a0<\/span><\/p>\n

    Those clients included Binance, KuCoin, and Crypto.com.\u00a0<\/span><\/p>\n

    This comes after the collapse of FTX.com has caused uncertainty about other crypto firms and assets across the market.\u00a0<\/span><\/p>\n

    Bitcoin prices are down nearly 3% in the past 24 hours, dropping below $17,000.\u00a0<\/span><\/p>\n

    Ethereum is down 5% in the past 24 hours to just over $1,200.\u00a0<\/span><\/p>\n

    In Case You Missed It<\/span><\/h2>\n
      \n
    • Two key manufacturing indexes contracted more than expected in early December. The Philadelphia Fed\u2019s manufacturing index came in at -13.8 vs -12 expected but that was an improvement from -19.4 in November. Meanwhile, the Empire State manufacturing index dropped to -11.2 vs -0.5 expected, down sharply from 4.5 in November. Both of these surveys are seen as barometers for the national manufacturing sector. Any reading below 0 indicates deteriorating business conditions. S&P Global releases its flash U.S. manufacturing PMI at 9:45 a.m. ET today.<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"

      DJIA Futures: -377 (-1.1%) SPX Futures: -41 (-1.1%) NASDAQ Futures: -68 (-0.6%) Good morning friends! Futures are sliding as recession fears grip traders. Let\u2019s get right to it! Wall Street Selloff Continues Recession fears have taken over Wall Street and stocks are continuing to tumble. The major indexes are all sliding further in premarket action after dropping sharply on Thursday.\u00a0\u00a0 The Dow Jones dropped 764 points or 2.25% on Thursday, its worst daily performance since September.\u00a0 The S&P 500 and the Nasdaq fell 2.49% and 3.23% respectively.\u00a0 All three are on track to notch a second straight week of losses.\u00a0 Trading is also expected to be volatile today with a large amount of options set to expire.\u00a0 $2.6 trillion worth of index options are set to expire today, which Goldman Sachs says is the highest amount \u201crelative to the size of the equity market in nearly two years.\u201d Adobe Jumps On Strong Earnings Adobe (ADBE) shares are up 5.3% ahead of the open after beating fiscal Q4 expectations.\u00a0 Here\u2019s how the software company\u2019s results compared to analysts\u2019 expectations: Adjusted EPS: $3.60 vs $3.50 expected Revenue: $4.53 billion as expected Revenue grew 10% year over year, down from 13% growth the previous quarter.\u00a0 The CEO said, \u201cWe delivered record operating cash flows with a focus on profitability.\u201d For fiscal Q1, Adobe forecast $3.65 to $3.70 in adjusted EPS on $4.60 billion to $4.64 billion in revenue.\u00a0 That topped analysts\u2019 expectations of $3.64 in adjusted EPS on $4.64 billion in revenue. Safety Regulators Investigate GM\u2019s Self-Driving System General Motors (GM) shares are slipping 1.5% in premarket trade after U.S. safety regulators opened a formal investigation into the company\u2019s autonomous driving system.\u00a0 The National Highway Traffic Safety Administration (NHTSA) is investigating GM\u2019s self-driving vehicle unit Cruise. A filing shows NHTSA has received complaints about the vehicles engaging in \u201cinappropriately hard braking\u201d or becoming \u201cimmobilized while operating.\u201d The regulator said, \u201cThis may introduce multiple potential hazards such as a collision with a Cruise vehicle, risk to a stranded passenger exiting an immobilized Cruise vehicle, or obstruction of other traffic including emergency vehicles.\u201d NHTSA is investigating about 240 of the vehicles retrofitted with the Cruise software system.\u00a0 Cruise is currently awaiting regulatory approval to expand its robotaxi service in San Francisco. Coinbase Drops As Crypto Uncertainty Continues Coinbase (COIN) shares are falling 2.3% ahead of the open as uncertainty and volatility continue in the crypto market.\u00a0 Binance announced today that accounting firm Mazars Group has suspended all work with its crypto clients.\u00a0 Those clients included Binance, KuCoin, and Crypto.com.\u00a0 This comes after the collapse of FTX.com has caused uncertainty about other crypto firms and assets across the market.\u00a0 Bitcoin prices are down nearly 3% in the past 24 hours, dropping below $17,000.\u00a0 Ethereum is down 5% in the past 24 hours to just over $1,200.\u00a0 In Case You Missed It Two key manufacturing indexes contracted more than expected in early December. The Philadelphia Fed\u2019s manufacturing index came in at -13.8 vs -12 expected but that was an improvement from -19.4 in November. Meanwhile, the Empire State manufacturing index dropped to -11.2 vs -0.5 expected, down sharply from 4.5 in November. Both of these surveys are seen as barometers for the national manufacturing sector. Any reading below 0 indicates deteriorating business conditions. S&P Global releases its flash U.S. manufacturing PMI at 9:45 a.m. ET today.<\/p>\n","protected":false},"author":41,"featured_media":65552,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-65548","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\/65548","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=65548"}],"version-history":[{"count":2,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/65548\/revisions"}],"predecessor-version":[{"id":65555,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/65548\/revisions\/65555"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/65552"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=65548"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=65548"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=65548"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}