{"id":65928,"date":"2023-01-18T09:05:20","date_gmt":"2023-01-18T14:05:20","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=65928"},"modified":"2023-01-18T09:05:20","modified_gmt":"2023-01-18T14:05:20","slug":"coffee-with-greta-has-inflation-peaked","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2023\/01\/18\/coffee-with-greta-has-inflation-peaked\/","title":{"rendered":"Coffee With Greta: Has Inflation Peaked?"},"content":{"rendered":"

DJIA Futures: <\/b>+46 (+0.1%)<\/span><\/p>\n

SPX Futures: <\/b>+13 (+0.3%)<\/span><\/p>\n

NASDAQ Futures: <\/b>+57 (+0.5%)<\/span><\/p>\n

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

Futures are higher following more better-than-expected inflation data.\u00a0<\/span><\/p>\n

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

Wholesale Inflation Tumbles<\/span><\/h2>\n

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

The Bureau of Labor Statistics\u2019 producer price index fell 0.5% monthly vs expectations for a 0.1% drop.\u00a0<\/span><\/p>\n

The PPI rose 6.2% year over year, down from 7.3% in November.\u00a0<\/span><\/p>\n

Excluding food, energy, and trade services, the core PPI rose 0.1% monthly and 4.6% annually.\u00a0<\/span><\/p>\n

That was down from the 0.3% monthly and 4.9% annual gain in November.\u00a0<\/span><\/p>\n

Retail Sales Drop Sharply<\/span><\/h2>\n

U.S. retail sales fell more than expected in December as consumers spent less on cars, gas, and furniture.\u00a0<\/span><\/p>\n

The Census Bureau reported retail sales dropped 1.1% last month to $677.1 billion.\u00a0<\/span><\/p>\n

That was steeper than economists\u2019 expectations for a 1% decline.\u00a0<\/span><\/p>\n

High inflation and interest rates put pressure on shoppers during the key holiday shopping season.<\/span><\/p>\n

On an annual basis, retail sales rose 6% as shoppers continued to pay higher prices.\u00a0<\/span><\/p>\n

Gas stations saw the largest decline in Decmeber as prices fell, down 4.6% from November.\u00a0<\/span><\/p>\n

Furniture store sales fell 2.5%, car sales were down 1.2%, electronics and appliances fell 1.1%.\u00a0<\/span><\/p>\n

The only retailers to see a slight gain were building material retailers which rose 0.3% and sporting goods stores which were up 0.1%.<\/span><\/p>\n

Core retail sales, which exclude vehicles and gas, fell 0.7% monthly and were up 7.2% year over year.\u00a0<\/span><\/p>\n

United Airlines Jumps After Reporting Q4 Profit<\/span><\/h2>\n

United Airlines <\/b>(UAL) shares are up 4.0% ahead of the open after sharply beating Q4 expectations.\u00a0<\/span><\/p>\n

Here\u2019s how the carrier\u2019s results compared to analysts\u2019 estimates:\u00a0<\/span><\/p>\n

    \n
  • Adjusted EPS: $2.46 vs $2.11 expected<\/span><\/li>\n
  • Revenue: $12.4 billion vs $12.23 billion expected<\/span><\/li>\n<\/ul>\n

    The airline\u2019s guidance also topped expectations.\u00a0<\/span><\/p>\n

    United expects Q1 EPS between $0.50 and $1, well above consensus estimates of $0.31.\u00a0<\/span><\/p>\n

    For the full year, the airline is anticipating adjusted EPS between $10 and $12 vs analysts\u2019 estimates of $6.84.\u00a0<\/span><\/p>\n

    Party City Files For Bankruptcy<\/span><\/h2>\n

    Party City <\/b>(PRTY) shares have been halted after rallying 10.6% in premarket trade following the company\u2019s Chapter 11 bankruptcy filing.<\/span><\/p>\n

    In a filing with the SEC on Tuesday, the retailer said it had struck an agreement to reduce its debt.<\/span><\/p>\n

    Party City had received a $150 million debtor-in-possession loan to continue operations while it reorganizes.\u00a0<\/span><\/p>\n

    The company expects to complete its restructuring in Q2.\u00a0\u00a0<\/span><\/p>\n

    Mortgage Demand Jumps Amid Lower Rates<\/span><\/h2>\n

    Mortgage application volume jumped at the start of the year as rates fell to the lowest level since September.\u00a0<\/span><\/p>\n

    The Mortgage Bankers Association reported total application volume rose nearly 28% last week from the week before.\u00a0<\/span><\/p>\n

    Refinance applications jumped 34% but were still 81% lower year over year.\u00a0<\/span><\/p>\n

    Purchase applications rose 25% weekly and were 35% lower than the same week a year ago.\u00a0<\/span><\/p>\n

    The jump came as the average 30-year fixed contract rate fell to 6.23% from 6.42% the week before.\u00a0<\/span><\/p>\n

    Market experts are anticipating an increase in mortgage activity over the next few months as we enter the traditionally busy spring buying season.<\/span><\/p>\n

    Homebuilder Sentiment Expected To Fall<\/span><\/h2>\n

    Homebuilder sentiment is expected to have fallen further this month as the housing market continues to be squeezed by high mortgage rates.\u00a0<\/span><\/p>\n

    The National Association of Homebuilders releases its January sentiment index at 10:00 a.m. ET today.\u00a0<\/span><\/p>\n

    That survey is expected to fall to 30 from 31 in December.\u00a0<\/span><\/p>\n

    Sentiment fell for the 12th straight month in December, hitting the lowest level since June 2012.\u00a0<\/span><\/p>\n

    In Case You Missed It<\/span><\/h2>\n

    Peloton <\/b>(PTON) shares rallied 2.7% on Tuesday after hiring a new chief marketing officer. The exercise bike maker hired former Twitter CMO Leslie Berland to fill that position. The former CMO left Peloton in September. Berland said she is \u201cthrilled\u201d to join Peloton at this \u201cunique moment in its transformation journey.\u201d <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

    DJIA Futures: +46 (+0.1%) SPX Futures: +13 (+0.3%) NASDAQ Futures: +57 (+0.5%) Good morning friends! Futures are higher following more better-than-expected inflation data.\u00a0 Let\u2019s get right to it! Wholesale Inflation Tumbles Wholesale inflation pressures tumbled more than expected in December.\u00a0 The Bureau of Labor Statistics\u2019 producer price index fell 0.5% monthly vs expectations for a 0.1% drop.\u00a0 The PPI rose 6.2% year over year, down from 7.3% in November.\u00a0 Excluding food, energy, and trade services, the core PPI rose 0.1% monthly and 4.6% annually.\u00a0 That was down from the 0.3% monthly and 4.9% annual gain in November.\u00a0 Retail Sales Drop Sharply U.S. retail sales fell more than expected in December as consumers spent less on cars, gas, and furniture.\u00a0 The Census Bureau reported retail sales dropped 1.1% last month to $677.1 billion.\u00a0 That was steeper than economists\u2019 expectations for a 1% decline.\u00a0 High inflation and interest rates put pressure on shoppers during the key holiday shopping season. On an annual basis, retail sales rose 6% as shoppers continued to pay higher prices.\u00a0 Gas stations saw the largest decline in Decmeber as prices fell, down 4.6% from November.\u00a0 Furniture store sales fell 2.5%, car sales were down 1.2%, electronics and appliances fell 1.1%.\u00a0 The only retailers to see a slight gain were building material retailers which rose 0.3% and sporting goods stores which were up 0.1%. Core retail sales, which exclude vehicles and gas, fell 0.7% monthly and were up 7.2% year over year.\u00a0 United Airlines Jumps After Reporting Q4 Profit United Airlines (UAL) shares are up 4.0% ahead of the open after sharply beating Q4 expectations.\u00a0 Here\u2019s how the carrier\u2019s results compared to analysts\u2019 estimates:\u00a0 Adjusted EPS: $2.46 vs $2.11 expected Revenue: $12.4 billion vs $12.23 billion expected The airline\u2019s guidance also topped expectations.\u00a0 United expects Q1 EPS between $0.50 and $1, well above consensus estimates of $0.31.\u00a0 For the full year, the airline is anticipating adjusted EPS between $10 and $12 vs analysts\u2019 estimates of $6.84.\u00a0 Party City Files For Bankruptcy Party City (PRTY) shares have been halted after rallying 10.6% in premarket trade following the company\u2019s Chapter 11 bankruptcy filing. In a filing with the SEC on Tuesday, the retailer said it had struck an agreement to reduce its debt. Party City had received a $150 million debtor-in-possession loan to continue operations while it reorganizes.\u00a0 The company expects to complete its restructuring in Q2.\u00a0\u00a0 Mortgage Demand Jumps Amid Lower Rates Mortgage application volume jumped at the start of the year as rates fell to the lowest level since September.\u00a0 The Mortgage Bankers Association reported total application volume rose nearly 28% last week from the week before.\u00a0 Refinance applications jumped 34% but were still 81% lower year over year.\u00a0 Purchase applications rose 25% weekly and were 35% lower than the same week a year ago.\u00a0 The jump came as the average 30-year fixed contract rate fell to 6.23% from 6.42% the week before.\u00a0 Market experts are anticipating an increase in mortgage activity over the next few months as we enter the traditionally busy spring buying season. Homebuilder Sentiment Expected To Fall Homebuilder sentiment is expected to have fallen further this month as the housing market continues to be squeezed by high mortgage rates.\u00a0 The National Association of Homebuilders releases its January sentiment index at 10:00 a.m. ET today.\u00a0 That survey is expected to fall to 30 from 31 in December.\u00a0 Sentiment fell for the 12th straight month in December, hitting the lowest level since June 2012.\u00a0 In Case You Missed It Peloton (PTON) shares rallied 2.7% on Tuesday after hiring a new chief marketing officer. The exercise bike maker hired former Twitter CMO Leslie Berland to fill that position. The former CMO left Peloton in September. Berland said she is \u201cthrilled\u201d to join Peloton at this \u201cunique moment in its transformation journey.\u201d<\/p>\n","protected":false},"author":41,"featured_media":65935,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-65928","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\/65928","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=65928"}],"version-history":[{"count":2,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/65928\/revisions"}],"predecessor-version":[{"id":65936,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/65928\/revisions\/65936"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/65935"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=65928"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=65928"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=65928"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}