{"id":65683,"date":"2022-12-29T08:54:57","date_gmt":"2022-12-29T13:54:57","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=65683"},"modified":"2022-12-29T08:54:57","modified_gmt":"2022-12-29T13:54:57","slug":"coffee-with-greta-no-santa-in-sight-for-wall-street","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2022\/12\/29\/coffee-with-greta-no-santa-in-sight-for-wall-street\/","title":{"rendered":"Coffee With Greta: No Santa In Sight For Wall Street"},"content":{"rendered":"

DJIA Futures: <\/b>+167 (+0.5%)<\/span><\/p>\n

SPX Futures: <\/b>+29 (+0.8%)<\/span><\/p>\n

NASDAQ Futures: <\/b>+116 (+1.1%)<\/span><\/p>\n

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

Futures are higher as stocks rebound but traders\u2019 hopes for a Santa rally fizzle out.<\/span><\/p>\n

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

Unemployment Claims Jump<\/span><\/h2>\n

Weekly jobless claims rose more than expected last week.\u00a0<\/span><\/p>\n

The Labor Department reported 225,000 Americans filed initial claims for unemployment benefits.\u00a0<\/span><\/p>\n

That was up by 9,000 from the previous week and higher than economists\u2019 expectations for 223,000.\u00a0<\/span><\/p>\n

Continuing claims also rose by 41,000 to 1.71 million in the week ending December 17.\u00a0<\/span><\/p>\n

That\u2019s the highest level since February and a sign that it\u2019s taking more time for laid off workers to find new jobs.\u00a0<\/span><\/p>\n

Tesla Rebounds<\/span><\/h2>\n

Tesla <\/b>(TSLA) shares are rising 5.2% ahead of the open, extending the rebound that started Wednesday afternoon.\u00a0<\/span><\/p>\n

Wednesday was the first positive close for the stock in eight sessions.\u00a0<\/span><\/p>\n

But TSLA is still on track for its worst year ever.\u00a0<\/span><\/p>\n

CNBC<\/span><\/a> obtained an email that CEO Elon Musk sent to employees on Wednesday telling them not to be \u201ctoo bothered by stock market craziness.\u201d<\/span><\/p>\n

He said Tesla needs to \u201cdemonstrate continued excellent performance,\u201d and \u201clong-term, I believe very much that Tesla will be the most valuable company on Earth!\u201d<\/span><\/p>\n

Apple Bounces Back<\/span><\/h2>\n

Apple <\/b>(AAPL) shares are up 1.5% in premarket trade after the stock closed at a new 1.5 year low on Wednesday.\u00a0<\/span><\/p>\n

Year-to-date, AAPL is down 29% as the tech sector has been hit hard in the 2022 bear market.\u00a0<\/span><\/p>\n

So far in December, the iPhone maker\u2019s stock is down nearly 15%.\u00a0<\/span><\/p>\n

Oil Prices Fall As Covid Cases Spike In China<\/span><\/h2>\n

Oil prices are rising this morning as surging Covid cases in China dampen hopes for higher demand.\u00a0<\/span><\/p>\n

West Texas Intermediate crude futures are down 0.9% to $78 bbl while Brent crude futures are down 0.9% to $82.50 bbl.\u00a0<\/span><\/p>\n

As China has relaxed its Covid restrictions, the country has seen a surge in cases.\u00a0<\/span><\/p>\n

The latest outbreak has prompted five countries including the U.S. to enact a testing requirement for travelers from China.\u00a0<\/span><\/p>\n

In Case You Missed It<\/span><\/h2>\n
    \n
  • Pending home sales fell more than expected in November. The National Association of Realtors reported pending sales dropped 4% last month vs expectations for a 1.8% decline. That was the sixth straight monthly drop and the lowest level of contract signings since April 2020. Pending sales were down a sharp 37.8% compared to November 2021.\u00a0<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"

    DJIA Futures: +167 (+0.5%) SPX Futures: +29 (+0.8%) NASDAQ Futures: +116 (+1.1%) Good morning friends! Futures are higher as stocks rebound but traders\u2019 hopes for a Santa rally fizzle out. Let\u2019s get right to it! Unemployment Claims Jump Weekly jobless claims rose more than expected last week.\u00a0 The Labor Department reported 225,000 Americans filed initial claims for unemployment benefits.\u00a0 That was up by 9,000 from the previous week and higher than economists\u2019 expectations for 223,000.\u00a0 Continuing claims also rose by 41,000 to 1.71 million in the week ending December 17.\u00a0 That\u2019s the highest level since February and a sign that it\u2019s taking more time for laid off workers to find new jobs.\u00a0 Tesla Rebounds Tesla (TSLA) shares are rising 5.2% ahead of the open, extending the rebound that started Wednesday afternoon.\u00a0 Wednesday was the first positive close for the stock in eight sessions.\u00a0 But TSLA is still on track for its worst year ever.\u00a0 CNBC obtained an email that CEO Elon Musk sent to employees on Wednesday telling them not to be \u201ctoo bothered by stock market craziness.\u201d He said Tesla needs to \u201cdemonstrate continued excellent performance,\u201d and \u201clong-term, I believe very much that Tesla will be the most valuable company on Earth!\u201d Apple Bounces Back Apple (AAPL) shares are up 1.5% in premarket trade after the stock closed at a new 1.5 year low on Wednesday.\u00a0 Year-to-date, AAPL is down 29% as the tech sector has been hit hard in the 2022 bear market.\u00a0 So far in December, the iPhone maker\u2019s stock is down nearly 15%.\u00a0 Oil Prices Fall As Covid Cases Spike In China Oil prices are rising this morning as surging Covid cases in China dampen hopes for higher demand.\u00a0 West Texas Intermediate crude futures are down 0.9% to $78 bbl while Brent crude futures are down 0.9% to $82.50 bbl.\u00a0 As China has relaxed its Covid restrictions, the country has seen a surge in cases.\u00a0 The latest outbreak has prompted five countries including the U.S. to enact a testing requirement for travelers from China.\u00a0 In Case You Missed It Pending home sales fell more than expected in November. The National Association of Realtors reported pending sales dropped 4% last month vs expectations for a 1.8% decline. That was the sixth straight monthly drop and the lowest level of contract signings since April 2020. Pending sales were down a sharp 37.8% compared to November 2021.\u00a0<\/p>\n","protected":false},"author":41,"featured_media":65695,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-65683","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\/65683","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=65683"}],"version-history":[{"count":2,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/65683\/revisions"}],"predecessor-version":[{"id":65698,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/65683\/revisions\/65698"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/65695"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=65683"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=65683"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=65683"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}