{"id":66398,"date":"2023-02-22T09:03:35","date_gmt":"2023-02-22T14:03:35","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=66398"},"modified":"2023-02-22T09:03:35","modified_gmt":"2023-02-22T14:03:35","slug":"coffee-with-greta-traders-await-fed-minutes","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2023\/02\/22\/coffee-with-greta-traders-await-fed-minutes\/","title":{"rendered":"Coffee With Greta: Traders Await Fed Minutes"},"content":{"rendered":"

DJIA Futures: <\/b>+51 (+0.2%)<\/span><\/p>\n

SPX Futures: <\/b>+7 (+0.2%)<\/span><\/p>\n

NASDAQ Futures: <\/b>+33 (+0.3%)<\/span><\/p>\n

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

Futures are higher as traders await the release of the Fed minutes.<\/span><\/p>\n

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

Bullard Calls For Faster Hikes, Traders Await Fed Minutes<\/span><\/h2>\n

St Louis Fed President James Bullard is calling for a more aggressive rate hike at the central bank\u2019s next meeting.\u00a0<\/span><\/p>\n

Bullard told CNBC this morning he is still pushing for a 50 basis point hike at the March 22nd meeting.\u00a0<\/span><\/p>\n

He said, \u201cIt has become popular to say, \u2018Let\u2019s slow down and feel our way to where we need to be.\u2019 We still haven\u2019t gotten to the point where the committee put the so-called terminal rate. Get to that level and then feel your way around and see what you need to do. You\u2019ll know when you\u2019re there when the next move could be up or down.\u201d<\/span><\/p>\n

The comments come ahead of the release of the Fed\u2019s February 1 meeting minutes at 2:00 p.m. ET today.\u00a0<\/span><\/p>\n

That readout will give traders more insight into the discussion around rates at the most recent meeting.\u00a0<\/span><\/p>\n

Bullard warned the Fed risks the reacceleration of inflation if it does not act aggressively enough now.\u00a0<\/span><\/p>\n

CME Group\u2019s <\/span>FedWatch<\/span><\/a> Tool shows 76% of traders expecting another 25 basis point hike at the next meeting and 24% anticipating a 50 basis point move.<\/span><\/p>\n

Intel Slashes Dividend<\/span><\/h2>\n

Intel <\/b>(INTC) shares are falling 0.8% ahead of the open after cutting its dividend this morning.\u00a0<\/span><\/p>\n

The chipmaker slashed that dividend by nearly 66% to 12.5 cents from 36.5 cents.\u00a0<\/span><\/p>\n

The new dividend will be payable on June 1.\u00a0<\/span><\/p>\n

Intel also reiterated its Q1 outlook for a profit loss but did not issue a full-year outlook.\u00a0<\/span><\/p>\n

Coinbase Slips On Disappointing Outlook<\/span><\/h2>\n

Coinbase <\/b>(COIN) shares are slipping 0.5% in premarket trade after beating Q4 expectations but issuing weak guidance.\u00a0<\/span><\/p>\n

Here\u2019s how the crypto platform\u2019s results compared to analysts\u2019 expectations:\u00a0<\/span><\/p>\n

    \n
  • Loss per share: $2.46 vs $2.55 expected<\/span><\/li>\n
  • Revenue: $629 million vs $590 million expected<\/span><\/li>\n<\/ul>\n

    Revenue plunged nearly 75% year over year as the crypto market collapsed.\u00a0<\/span><\/p>\n

    Coinbase also continued to lose users during the quarter, reporting 8.3 million monthly transacting users down from 8.5 million in Q3.\u00a0<\/span><\/p>\n

    Transaction revenue dropped 12% from Q3 to $322 million vs $327 million expected.\u00a0<\/span><\/p>\n

    Coinbase expects subscription and services revenue of $300 million to $325 million in Q1 and restructuring costs of $150 million.<\/span><\/p>\n

    Target Spends Big On E-commerce Hubs<\/span><\/h2>\n

    Target <\/b>(TGT) shares are up 0.8% ahead of the open after announcing plans to build more supply chain hubs for online orders.\u00a0<\/span><\/p>\n

    The retailer will spend $100 million to build at least 15 of what it is calling sortation centers by the end of January 2026.\u00a0\u00a0<\/span><\/p>\n

    Target has already opened nine of the hubs with the goal of speeding up and lowering the cost of delivering online orders.\u00a0<\/span><\/p>\n

    In Case You Missed It<\/span><\/h2>\n
      \n
    • Existing home sales fell unexpectedly in January. The National Association of Realtors reported existing sales fell 0.7% last month to a seasonally adjusted annual rate of 4 million units vs 4.2 million expected. January marked the 12th straight monthly decline in existing sales, which is the longest streak since NAR began tracking sales in 1999. It was the slowest pace of sales since October 2010.<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"

      DJIA Futures: +51 (+0.2%) SPX Futures: +7 (+0.2%) NASDAQ Futures: +33 (+0.3%) Good morning friends! Futures are higher as traders await the release of the Fed minutes. Let\u2019s get right to it! Bullard Calls For Faster Hikes, Traders Await Fed Minutes St Louis Fed President James Bullard is calling for a more aggressive rate hike at the central bank\u2019s next meeting.\u00a0 Bullard told CNBC this morning he is still pushing for a 50 basis point hike at the March 22nd meeting.\u00a0 He said, \u201cIt has become popular to say, \u2018Let\u2019s slow down and feel our way to where we need to be.\u2019 We still haven\u2019t gotten to the point where the committee put the so-called terminal rate. Get to that level and then feel your way around and see what you need to do. You\u2019ll know when you\u2019re there when the next move could be up or down.\u201d The comments come ahead of the release of the Fed\u2019s February 1 meeting minutes at 2:00 p.m. ET today.\u00a0 That readout will give traders more insight into the discussion around rates at the most recent meeting.\u00a0 Bullard warned the Fed risks the reacceleration of inflation if it does not act aggressively enough now.\u00a0 CME Group\u2019s FedWatch Tool shows 76% of traders expecting another 25 basis point hike at the next meeting and 24% anticipating a 50 basis point move. Intel Slashes Dividend Intel (INTC) shares are falling 0.8% ahead of the open after cutting its dividend this morning.\u00a0 The chipmaker slashed that dividend by nearly 66% to 12.5 cents from 36.5 cents.\u00a0 The new dividend will be payable on June 1.\u00a0 Intel also reiterated its Q1 outlook for a profit loss but did not issue a full-year outlook.\u00a0 Coinbase Slips On Disappointing Outlook Coinbase (COIN) shares are slipping 0.5% in premarket trade after beating Q4 expectations but issuing weak guidance.\u00a0 Here\u2019s how the crypto platform\u2019s results compared to analysts\u2019 expectations:\u00a0 Loss per share: $2.46 vs $2.55 expected Revenue: $629 million vs $590 million expected Revenue plunged nearly 75% year over year as the crypto market collapsed.\u00a0 Coinbase also continued to lose users during the quarter, reporting 8.3 million monthly transacting users down from 8.5 million in Q3.\u00a0 Transaction revenue dropped 12% from Q3 to $322 million vs $327 million expected.\u00a0 Coinbase expects subscription and services revenue of $300 million to $325 million in Q1 and restructuring costs of $150 million. Target Spends Big On E-commerce Hubs Target (TGT) shares are up 0.8% ahead of the open after announcing plans to build more supply chain hubs for online orders.\u00a0 The retailer will spend $100 million to build at least 15 of what it is calling sortation centers by the end of January 2026.\u00a0\u00a0 Target has already opened nine of the hubs with the goal of speeding up and lowering the cost of delivering online orders.\u00a0 In Case You Missed It Existing home sales fell unexpectedly in January. The National Association of Realtors reported existing sales fell 0.7% last month to a seasonally adjusted annual rate of 4 million units vs 4.2 million expected. January marked the 12th straight monthly decline in existing sales, which is the longest streak since NAR began tracking sales in 1999. It was the slowest pace of sales since October 2010.<\/p>\n","protected":false},"author":41,"featured_media":66403,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-66398","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\/66398","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=66398"}],"version-history":[{"count":2,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/66398\/revisions"}],"predecessor-version":[{"id":66405,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/66398\/revisions\/66405"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/66403"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=66398"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=66398"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=66398"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}