{"id":65660,"date":"2022-12-27T09:00:55","date_gmt":"2022-12-27T14:00:55","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=65660"},"modified":"2022-12-27T09:00:55","modified_gmt":"2022-12-27T14:00:55","slug":"coffee-with-greta-were-traders-on-the-nice-list","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2022\/12\/27\/coffee-with-greta-were-traders-on-the-nice-list\/","title":{"rendered":"Coffee With Greta: Were Traders On The Nice List?"},"content":{"rendered":"

DJIA Futures: <\/b>+76 (+0.2%)<\/span><\/p>\n

SPX Futures: <\/b>+3 (+0.1%)<\/span><\/p>\n

NASDAQ Futures: <\/b>-29 (-0.3%)<\/span><\/p>\n

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

Futures are mixed as traders hope for a Santa rally to close out the year.<\/span><\/p>\n

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

Southwest Slides After Canceling Thousand of Flights<\/span><\/h2>\n

Southwest Airlines <\/b>(LUV) shares are sliding 4.1% ahead of the open after the company canceled thousands of flights over the weekend.\u00a0<\/span><\/p>\n

The airline canceled more than 70% of its flights Monday and has already canceled 60% of the flights scheduled for today.\u00a0<\/span><\/p>\n

Southwest said it would operate only one-third of its schedule \u201cfor the next several days\u201d.\u00a0<\/span><\/p>\n

In comparison, <\/span>Delta <\/b>(DAL) canceled just 9% of its flights Monday, <\/span>United <\/b>(UAL) canceled 5%, and <\/span>American <\/b>(AAL) canceled less than 1%.\u00a0<\/span><\/p>\n

The Department of Transportation said it is looking into why Southwest had so many more cancellations than other airports.\u00a0<\/span><\/p>\n

The Department said in a statement,\u00a0 \u201cAs more information becomes available the Department will closely examine whether cancellations were controllable and whether Southwest is complying with its customer service plan as well as all other pertinent DOT rules.\u201d<\/span><\/p>\n

China To Scrap International Traveler Quarantine<\/span><\/h2>\n

Chinese stocks listed in the U.S. are rising in premarket trade as the country is set to scrap its zero-Covid policy.\u00a0<\/span><\/p>\n

Alibaba <\/b>(BABA) shares are up 1.4%, <\/span>JD.com <\/b>(JD) shares are rising 1.8%, and <\/span>Pinduoduo <\/b>(PDD) shares are up 1.8%.\u00a0<\/span><\/p>\n

China announced Monday that international travelers will no longer be required to quarantine upon arriving to the country starting January 8, 2023.<\/span><\/p>\n

This is the final change to end the bulk of China\u2019s zero-Covid policy that has restricted citizens and visitors.\u00a0<\/span><\/p>\n

Travelers to China previously had to quarantine in a hotel for 14 to 21 days upon arrival.\u00a0<\/span><\/p>\n

Current policy requires 5 days of quarantine at a centralized facility and three days at home.\u00a0<\/span><\/p>\n

The new policy will only require travelers to show a negative Covid test from within the last 48 hours.<\/span><\/p>\n

China\u2019s National Health Commission also said starting January 8, authorities would stop tracking close contacts of Covid patients, stop the designation of certain areas as Covid risk areas, and cancel Covid measures that had slowed imports.<\/span><\/p>\n

Tesla Extends Recent Slide<\/span><\/h2>\n

Tesla <\/b>(TSLA) shares are tumbling 5.3% ahead of the open, extending the stock\u2019s recent slide.\u00a0<\/span><\/p>\n

The latest drop comes after news that the electric automaker will plans to run a reduced production schedule at its Shanghai factory in January.<\/span><\/p>\n

That follows a complete suspension of production during this final week of December.<\/span><\/p>\n

The production cuts are likely linked to lower demand in China but Tesla hasn\u2019t responded to requests for comment.<\/span><\/p>\n

Chinese competitor <\/span>Nio <\/b>(NIO) also cut its delivery outlook for the fourth quarter this morning, citing headwinds in China.\u00a0<\/span><\/p>\n

Nio shares are down 5.3% in premarket trade after saying it expects to deliver between 38,500 and 39,500 vehicles this quarter vs previous expectations for 43,000 to 48,000.<\/span><\/p>\n

Quiet Week of Data<\/span><\/h2>\n

It will be a quiet week of economic data mostly focused on the housing market.\u00a0<\/span><\/p>\n

Both the S&P Case-Shiller and the Federal Housing Finance Agency\u2019s housing price indexes for October will be released at 10:00 a.m. ET today.\u00a0<\/span><\/p>\n

Then the National Association of Realtors reports November pending home sales on Wednesday.\u00a0<\/span><\/p>\n

The Labor Department releases weekly jobless claims on Thursday.\u00a0<\/span><\/p>\n

It is a holiday-shortened trading week after the stock market was closed on Monday.<\/span><\/p>\n

In Case You Missed It<\/span><\/h2>\n
    \n
  • Consumer sentiment improved more than expected in late December. The University of Michigan\u2019s consumer sentiment index rose to 59.7 from a flash reading of 59.1. That was better than economists\u2019 expectations for the index to be unchanged. Short-term inflation expectations also improved with respondents saying they expect inflation to be at 2.9% one year from now vs 3% previously.\u00a0<\/span><\/li>\n
  • New home sales unexpectedly rose in November. The Commerce Department reported new home sales rose 5.8% to a seasonally adjusted annual rate of 640,000 units. That was up from the revised SAAR of 605,000 in October and better than expectations for 600,000. New home sales were still down 15.3% year over year.<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"

    DJIA Futures: +76 (+0.2%) SPX Futures: +3 (+0.1%) NASDAQ Futures: -29 (-0.3%) Good morning friends! Futures are mixed as traders hope for a Santa rally to close out the year. Let\u2019s get right to it! Southwest Slides After Canceling Thousand of Flights Southwest Airlines (LUV) shares are sliding 4.1% ahead of the open after the company canceled thousands of flights over the weekend.\u00a0 The airline canceled more than 70% of its flights Monday and has already canceled 60% of the flights scheduled for today.\u00a0 Southwest said it would operate only one-third of its schedule \u201cfor the next several days\u201d.\u00a0 In comparison, Delta (DAL) canceled just 9% of its flights Monday, United (UAL) canceled 5%, and American (AAL) canceled less than 1%.\u00a0 The Department of Transportation said it is looking into why Southwest had so many more cancellations than other airports.\u00a0 The Department said in a statement,\u00a0 \u201cAs more information becomes available the Department will closely examine whether cancellations were controllable and whether Southwest is complying with its customer service plan as well as all other pertinent DOT rules.\u201d China To Scrap International Traveler Quarantine Chinese stocks listed in the U.S. are rising in premarket trade as the country is set to scrap its zero-Covid policy.\u00a0 Alibaba (BABA) shares are up 1.4%, JD.com (JD) shares are rising 1.8%, and Pinduoduo (PDD) shares are up 1.8%.\u00a0 China announced Monday that international travelers will no longer be required to quarantine upon arriving to the country starting January 8, 2023. This is the final change to end the bulk of China\u2019s zero-Covid policy that has restricted citizens and visitors.\u00a0 Travelers to China previously had to quarantine in a hotel for 14 to 21 days upon arrival.\u00a0 Current policy requires 5 days of quarantine at a centralized facility and three days at home.\u00a0 The new policy will only require travelers to show a negative Covid test from within the last 48 hours. China\u2019s National Health Commission also said starting January 8, authorities would stop tracking close contacts of Covid patients, stop the designation of certain areas as Covid risk areas, and cancel Covid measures that had slowed imports. Tesla Extends Recent Slide Tesla (TSLA) shares are tumbling 5.3% ahead of the open, extending the stock\u2019s recent slide.\u00a0 The latest drop comes after news that the electric automaker will plans to run a reduced production schedule at its Shanghai factory in January. That follows a complete suspension of production during this final week of December. The production cuts are likely linked to lower demand in China but Tesla hasn\u2019t responded to requests for comment. Chinese competitor Nio (NIO) also cut its delivery outlook for the fourth quarter this morning, citing headwinds in China.\u00a0 Nio shares are down 5.3% in premarket trade after saying it expects to deliver between 38,500 and 39,500 vehicles this quarter vs previous expectations for 43,000 to 48,000. Quiet Week of Data It will be a quiet week of economic data mostly focused on the housing market.\u00a0 Both the S&P Case-Shiller and the Federal Housing Finance Agency\u2019s housing price indexes for October will be released at 10:00 a.m. ET today.\u00a0 Then the National Association of Realtors reports November pending home sales on Wednesday.\u00a0 The Labor Department releases weekly jobless claims on Thursday.\u00a0 It is a holiday-shortened trading week after the stock market was closed on Monday. In Case You Missed It Consumer sentiment improved more than expected in late December. The University of Michigan\u2019s consumer sentiment index rose to 59.7 from a flash reading of 59.1. That was better than economists\u2019 expectations for the index to be unchanged. Short-term inflation expectations also improved with respondents saying they expect inflation to be at 2.9% one year from now vs 3% previously.\u00a0 New home sales unexpectedly rose in November. The Commerce Department reported new home sales rose 5.8% to a seasonally adjusted annual rate of 640,000 units. That was up from the revised SAAR of 605,000 in October and better than expectations for 600,000. New home sales were still down 15.3% year over year.<\/p>\n","protected":false},"author":41,"featured_media":65662,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-65660","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\/65660","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=65660"}],"version-history":[{"count":2,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/65660\/revisions"}],"predecessor-version":[{"id":65666,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/65660\/revisions\/65666"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/65662"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=65660"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=65660"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=65660"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}