{"id":66300,"date":"2023-02-15T09:05:50","date_gmt":"2023-02-15T14:05:50","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=66300"},"modified":"2023-02-15T09:05:50","modified_gmt":"2023-02-15T14:05:50","slug":"coffee-with-greta-stocks-slip-as-retail-sales-surge","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2023\/02\/15\/coffee-with-greta-stocks-slip-as-retail-sales-surge\/","title":{"rendered":"Coffee With Greta: Stocks Slip As Retail Sales Surge"},"content":{"rendered":"

DJIA Futures: <\/b>-100 (-0.3%)<\/span><\/p>\n

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

NASDAQ Futures: <\/b>-23 (-0.2%)<\/span><\/p>\n

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

Futures are falling after the release of more hotter-than-expected economic data.<\/span><\/p>\n

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

January Retail Sales Smash Expectations<\/span><\/h2>\n

Retail sales were stronger than expected at the start of 2023 as consumers remain resilient despite inflation.\u00a0<\/span><\/p>\n

The Commerce Department reported retail sales jumped 3% in January to $697 billion.\u00a0<\/span><\/p>\n

That was sharply higher than expectations for a 1.9% increase and was the largest monthly increase since March 2021.<\/span><\/p>\n

Excluding autos, retail sales rose 2.3% vs 0.9% expected.\u00a0<\/span><\/p>\n

Restaurants and bars saw the largest increase in spending, up 7.2% monthly and 25.2% year over year.\u00a0<\/span><\/p>\n

Sales at auto dealers jumped 6.4% monthly and 2.5% annually.<\/span><\/p>\n

The data is not adjusted for inflation and the increase is partly due to consumers paying higher prices.\u00a0<\/span><\/p>\n

The report supports the Fed\u2019s plan to continue raising rates to lower inflation and slow consumer spending.<\/span><\/p>\n

Roblox Rallies On Q4 Earnings Beat<\/span><\/h2>\n

Roblox <\/b>(RBLX) shares are surging 17.7% ahead of the open after beating Q4 expectations.\u00a0<\/span><\/p>\n

Here\u2019s how the video game company\u2019s results compared to analysts\u2019 expectations:\u00a0<\/span><\/p>\n

    \n
  • Adjusted loss per share: $0.48 vs $0.50 expected<\/span><\/li>\n
  • Bookings: $899.4 billion vs $871.2 billion<\/span><\/li>\n<\/ul>\n

    The CFO said, \u201cBookings accelerated meaningfully in December and January, with year over year growth exceeding 20% in both months. Growth was strong across all geographies and age groups with particular strength among users above 17 years old.\u201d<\/span><\/p>\n

    Roblox said that growth has continued in the new year with January\u2019s estimated bookings between $267 million and $271 million, up 22% to 24% from a year ago.<\/span><\/p>\n

    Average daily users in January were 65 million vs 61.5 million in December.<\/span><\/p>\n

    Airbnb Reports First Profitable Year<\/span><\/h2>\n

    Airbnb <\/b>(ABNB) shares are rallying 9% in premarket trade after reporting record Q4 results and strong guidance.\u00a0<\/span><\/p>\n

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

      \n
    • EPS: $0.48 vs $0.26 expected<\/span><\/li>\n
    • Revenue: $1.9 billion vs $1.86 billion expected<\/span><\/li>\n
    • Adjusted ebitda: $506 million vs $434 million expected<\/span><\/li>\n<\/ul>\n

      For the full year, Airbnb reported a profit of $1.89 billion on $8.4 billion in revenue.\u00a0<\/span><\/p>\n

      That topped analysts\u2019 expectations for $1.74 billion in profit on $8.36 billion in revenue.<\/span><\/p>\n

      In a letter to shareholders, the company said, \u201cAll regions saw material growth in 2022 as guests increasingly crossed borders and returned to cities on Airbnb.\u201d<\/span><\/p>\n

      Airbnb forecast Q1 revenue between $1.75 billion and $1.82 billion vs $1.68 billion expected.\u00a0\u00a0<\/span><\/p>\n

      Mortgage Demand Drops<\/span><\/h2>\n

      Mortgage demand dropped last week as rates jumped higher.\u00a0<\/span><\/p>\n

      The Mortgage Bankers Association reported total application volume fell 7.7% last week.\u00a0<\/span><\/p>\n

      That came as the average 30-year fixed contract rate rose to 6.39% from 6.18%.\u00a0<\/span><\/p>\n

      Refinance applications tumbled 13% weekly and 76% year over year.\u00a0<\/span><\/p>\n

      Purchase applications were down 6% weekly and 43% annually.<\/span><\/p>\n

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

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

      That survey is expected to rise to 37 from 35 in January.\u00a0<\/span><\/p>\n

      Although that would still represent negative sentiment among builders, it would be the second straight monthly increase and 12 consecutive months of decline.\u00a0<\/span>\u00a0<\/span><\/p>\n

      In Case You Missed It<\/span><\/h2>\n
        \n
      • Ford <\/b>(F) shares slipped 0.9% on Tuesday after the company halted production and shipments of the F150 Lightning. The automaker said that pause was due to a potential battery issue found during pre-delivery quality inspections. A Ford spokeswoman said, \u201cThe team is diligently working on the root cause analysis\u201d and the company is \u201cdoing the right thing by our customers\u201d.<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"

        DJIA Futures: -100 (-0.3%) SPX Futures: -13 (0.3%) NASDAQ Futures: -23 (-0.2%) Good morning friends! Futures are falling after the release of more hotter-than-expected economic data. Let\u2019s get right to it! January Retail Sales Smash Expectations Retail sales were stronger than expected at the start of 2023 as consumers remain resilient despite inflation.\u00a0 The Commerce Department reported retail sales jumped 3% in January to $697 billion.\u00a0 That was sharply higher than expectations for a 1.9% increase and was the largest monthly increase since March 2021. Excluding autos, retail sales rose 2.3% vs 0.9% expected.\u00a0 Restaurants and bars saw the largest increase in spending, up 7.2% monthly and 25.2% year over year.\u00a0 Sales at auto dealers jumped 6.4% monthly and 2.5% annually. The data is not adjusted for inflation and the increase is partly due to consumers paying higher prices.\u00a0 The report supports the Fed\u2019s plan to continue raising rates to lower inflation and slow consumer spending. Roblox Rallies On Q4 Earnings Beat Roblox (RBLX) shares are surging 17.7% ahead of the open after beating Q4 expectations.\u00a0 Here\u2019s how the video game company\u2019s results compared to analysts\u2019 expectations:\u00a0 Adjusted loss per share: $0.48 vs $0.50 expected Bookings: $899.4 billion vs $871.2 billion The CFO said, \u201cBookings accelerated meaningfully in December and January, with year over year growth exceeding 20% in both months. Growth was strong across all geographies and age groups with particular strength among users above 17 years old.\u201d Roblox said that growth has continued in the new year with January\u2019s estimated bookings between $267 million and $271 million, up 22% to 24% from a year ago. Average daily users in January were 65 million vs 61.5 million in December. Airbnb Reports First Profitable Year Airbnb (ABNB) shares are rallying 9% in premarket trade after reporting record Q4 results and strong guidance.\u00a0 Here\u2019s how the company\u2019s results compared to analysts\u2019 estimates:\u00a0 EPS: $0.48 vs $0.26 expected Revenue: $1.9 billion vs $1.86 billion expected Adjusted ebitda: $506 million vs $434 million expected For the full year, Airbnb reported a profit of $1.89 billion on $8.4 billion in revenue.\u00a0 That topped analysts\u2019 expectations for $1.74 billion in profit on $8.36 billion in revenue. In a letter to shareholders, the company said, \u201cAll regions saw material growth in 2022 as guests increasingly crossed borders and returned to cities on Airbnb.\u201d Airbnb forecast Q1 revenue between $1.75 billion and $1.82 billion vs $1.68 billion expected.\u00a0\u00a0 Mortgage Demand Drops Mortgage demand dropped last week as rates jumped higher.\u00a0 The Mortgage Bankers Association reported total application volume fell 7.7% last week.\u00a0 That came as the average 30-year fixed contract rate rose to 6.39% from 6.18%.\u00a0 Refinance applications tumbled 13% weekly and 76% year over year.\u00a0 Purchase applications were down 6% weekly and 43% annually. Homebuilder Sentiment Expected To Improve The National Association of Homebuilders releases its sentiment index for February at 10:00 a.m. ET.\u00a0 That survey is expected to rise to 37 from 35 in January.\u00a0 Although that would still represent negative sentiment among builders, it would be the second straight monthly increase and 12 consecutive months of decline.\u00a0\u00a0 In Case You Missed It Ford (F) shares slipped 0.9% on Tuesday after the company halted production and shipments of the F150 Lightning. The automaker said that pause was due to a potential battery issue found during pre-delivery quality inspections. A Ford spokeswoman said, \u201cThe team is diligently working on the root cause analysis\u201d and the company is \u201cdoing the right thing by our customers\u201d.<\/p>\n","protected":false},"author":41,"featured_media":66304,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-66300","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\/66300","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=66300"}],"version-history":[{"count":2,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/66300\/revisions"}],"predecessor-version":[{"id":66307,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/66300\/revisions\/66307"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/66304"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=66300"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=66300"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=66300"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}