{"id":65649,"date":"2022-12-23T08:58:09","date_gmt":"2022-12-23T13:58:09","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=65649"},"modified":"2022-12-23T08:58:09","modified_gmt":"2022-12-23T13:58:09","slug":"coffee-with-greta-will-santa-visit-wall-street","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2022\/12\/23\/coffee-with-greta-will-santa-visit-wall-street\/","title":{"rendered":"Coffee With Greta: Will Santa Visit Wall Street?"},"content":{"rendered":"

DJIA Futures: <\/b>+162 (+0.5%)<\/span><\/p>\n

SPX Futures: <\/b>+17 (+0.5%)<\/span><\/p>\n

NASDAQ Futures: <\/b>+59 (+0.5%)<\/span><\/p>\n

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

Futures are higher as cooling inflation data props up stocks.<\/span><\/p>\n

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

Traders Hope For Santa Rally<\/span><\/h2>\n

Traders are hoping Santa will pay a visit to Wall Street this weekend, gifting them an end-of-year rally.\u00a0<\/span><\/p>\n

But the major indexes are still on track for large monthly losses.\u00a0<\/span><\/p>\n

For December, the <\/span>Dow Jones <\/b>is down 4.5%, the <\/span>S&P 500 <\/b>has lost more than 6%, and the <\/span>Nasdaq <\/b>is down 8.7%.\u00a0<\/span><\/p>\n

All three would be the largest monthly declines since September and stocks are also on pace for their worst year since 2008.\u00a0<\/span><\/p>\n

Fed\u2019s Fave Inflation Gauge Cools<\/span><\/h2>\n

The Fed\u2019s preferred inflation gauge continued to cool in November.<\/span><\/p>\n

The PCE price index rose 0.1% monthly and 5.5% year over year.\u00a0<\/span><\/p>\n

That was down from the 6.1% annual increase in October.\u00a0<\/span><\/p>\n

The core PCE price index, which excludes food and energy, rose 0.2% monthly and 4.7% annually.\u00a0<\/span><\/p>\n

That was down from 5% in October but slightly higher than economists\u2019 expectations for 4.6%.\u00a0<\/span><\/p>\n

Durable Goods Orders Tumble<\/span><\/h2>\n

U.S. durable goods orders tumbled more than expected in November as the manufacturing sector slows.\u00a0<\/span><\/p>\n

The Commerce Department reported orders dropped 2.1% vs expectations for a 1.1% decline.\u00a0<\/span><\/p>\n

Core durable goods orders rose 0.2% vs 0.1% expected while orders excluding defense tumbled 2.6%.\u00a0<\/span><\/p>\n

Non-defense orders, excluding aircraft, rose 0.2% and transportation equipment orders plunged 6.3%.\u00a0<\/span><\/p>\n

Shipments of durable goods rose 0.2%.\u00a0<\/span><\/p>\n

Durable goods refers to products manufactured to last three years or more.\u00a0<\/span><\/p>\n

Musk Vows Not To Sell More $TSLA<\/span><\/h2>\n

Tesla <\/b>(TSLA) shares are up 1.2% ahead of the open after CEO Elon Musk vowed to pause his sales of the stock.<\/span><\/p>\n

During a Twitter Spaces event Thursday, Musk said he would not sell any Tesla stock for a minimum of 18 to 24 months.\u00a0<\/span><\/p>\n

Since November 2021, he has sold more than $39 billion worth of the stock.\u00a0<\/span><\/p>\n

Musk said, \u201cYou certainly have my commitment I won\u2019t sell stock until, I don\u2019t know, probably two years from now. Definitely not next year under any circumstances and probably not the year thereafter.\u201d\u00a0<\/span><\/p>\n

In Case You Missed It<\/span><\/h2>\n
    \n
  • The Conference Board\u2019s leading economic indicators index dropped 1% in November. That was worse than expectations for a 0.5% decline and marked the ninth straight monthly drop. Higher jobless claims, slowing home sales, and a manufacturing slowdown contributed to the latest decline. The Conference Board\u2019s senior director of economic research said, \u201cWe project a U.S. recession is likely to start around the beginning of 2023 and last through mid-year.\u201d<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"

    DJIA Futures: +162 (+0.5%) SPX Futures: +17 (+0.5%) NASDAQ Futures: +59 (+0.5%) Good morning friends! Futures are higher as cooling inflation data props up stocks. Let\u2019s get right to it! Traders Hope For Santa Rally Traders are hoping Santa will pay a visit to Wall Street this weekend, gifting them an end-of-year rally.\u00a0 But the major indexes are still on track for large monthly losses.\u00a0 For December, the Dow Jones is down 4.5%, the S&P 500 has lost more than 6%, and the Nasdaq is down 8.7%.\u00a0 All three would be the largest monthly declines since September and stocks are also on pace for their worst year since 2008.\u00a0 Fed\u2019s Fave Inflation Gauge Cools The Fed\u2019s preferred inflation gauge continued to cool in November. The PCE price index rose 0.1% monthly and 5.5% year over year.\u00a0 That was down from the 6.1% annual increase in October.\u00a0 The core PCE price index, which excludes food and energy, rose 0.2% monthly and 4.7% annually.\u00a0 That was down from 5% in October but slightly higher than economists\u2019 expectations for 4.6%.\u00a0 Durable Goods Orders Tumble U.S. durable goods orders tumbled more than expected in November as the manufacturing sector slows.\u00a0 The Commerce Department reported orders dropped 2.1% vs expectations for a 1.1% decline.\u00a0 Core durable goods orders rose 0.2% vs 0.1% expected while orders excluding defense tumbled 2.6%.\u00a0 Non-defense orders, excluding aircraft, rose 0.2% and transportation equipment orders plunged 6.3%.\u00a0 Shipments of durable goods rose 0.2%.\u00a0 Durable goods refers to products manufactured to last three years or more.\u00a0 Musk Vows Not To Sell More $TSLA Tesla (TSLA) shares are up 1.2% ahead of the open after CEO Elon Musk vowed to pause his sales of the stock. During a Twitter Spaces event Thursday, Musk said he would not sell any Tesla stock for a minimum of 18 to 24 months.\u00a0 Since November 2021, he has sold more than $39 billion worth of the stock.\u00a0 Musk said, \u201cYou certainly have my commitment I won\u2019t sell stock until, I don\u2019t know, probably two years from now. Definitely not next year under any circumstances and probably not the year thereafter.\u201d\u00a0 In Case You Missed It The Conference Board\u2019s leading economic indicators index dropped 1% in November. That was worse than expectations for a 0.5% decline and marked the ninth straight monthly drop. Higher jobless claims, slowing home sales, and a manufacturing slowdown contributed to the latest decline. The Conference Board\u2019s senior director of economic research said, \u201cWe project a U.S. recession is likely to start around the beginning of 2023 and last through mid-year.\u201d<\/p>\n","protected":false},"author":41,"featured_media":65652,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-65649","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\/65649","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=65649"}],"version-history":[{"count":2,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/65649\/revisions"}],"predecessor-version":[{"id":65657,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/65649\/revisions\/65657"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/65652"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=65649"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=65649"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=65649"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}