{"id":66477,"date":"2023-02-27T08:56:17","date_gmt":"2023-02-27T13:56:17","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=66477"},"modified":"2023-02-27T08:56:17","modified_gmt":"2023-02-27T13:56:17","slug":"coffee-with-greta-new-week-bounce","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2023\/02\/27\/coffee-with-greta-new-week-bounce\/","title":{"rendered":"Coffee With Greta: New Week Bounce"},"content":{"rendered":"

DJIA Futures: <\/b>+237 (+0.7%)<\/span><\/p>\n

SPX Futures: <\/b>+33 (+0.8%)<\/span><\/p>\n

NASDAQ Futures: <\/b>+125 (+1.1%)<\/span><\/p>\n

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

Futures are rising as traders attempt to shake off last week.<\/span><\/p>\n

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

New Week Begins Higher<\/span><\/h2>\n

Stocks are rising ahead of the open as traders try to bounce back after the worst week of the year.\u00a0<\/span><\/p>\n

As stocks are rising, Treasury yields are slipping.<\/span><\/p>\n

The 2-year yield is down 2 basis points to 4.78% after briefly hitting the highest level since July 2007 earlier this morning.\u00a0<\/span><\/p>\n

The 10-year yield is down 4 basis points to 3.92%.\u00a0<\/span><\/p>\n

Although earnings season is winding down, traders are looking ahead to results from some key retailers this week.\u00a0<\/span><\/p>\n

Target <\/b>(TGT), <\/span>Costco <\/b>(COST), <\/span>Lowe\u2019s <\/b>(LOW), and <\/span>Macy\u2019s <\/b>(M) are all scheduled to report in the days ahead.<\/span><\/p>\n

Durable Goods Orders Slide<\/span><\/h2>\n

Durable goods orders fell more than expected in January as consumers pull back on spending on big items.\u00a0<\/span><\/p>\n

Durable goods are items manufactured to last three years or more, like appliances, TVs, autos, and more.\u00a0<\/span><\/p>\n

Orders slid 4.5% at the start of the year, worse than expectations for a 3.6% decline.\u00a0<\/span><\/p>\n

A 13.3% drop in transportation equipment orders propelled that decline.\u00a0<\/span><\/p>\n

December\u2019s increase was revised to 5.1% from 5.6% previously.\u00a0<\/span><\/p>\n

But core durable goods orders, which exclude transportation, rose 0.7%, beating expectations for a 0.1% increase.\u00a0<\/span><\/p>\n

Union Pacific Rallies After CEO Steps Down<\/span><\/h2>\n

Union Pacific <\/b>(UNP) shares are rallying 10.2% ahead of the open after the company\u2019s CEO announced he will step down over the weekend.\u00a0<\/span><\/p>\n

On Sunday, CEO Lance Fritz said, \u201cUnion Pacific has been my home for 22 years and I am confident that now is the right time for Union Pacific\u2019s next leader to take the helm. I look forward to working with the Board as we identify our next CEO to lead the Company into the future.\u201d<\/span><\/p>\n

The rail operator said it expects to name his replacement this year.\u00a0<\/span><\/p>\n

The decision came after hedge fund Soroban Capital Partners called for Fritz to be replaced in a letter on Saturday.\u00a0<\/span><\/p>\n

In a letter, the group said, \u201cUnlike typical shareholder engagements which come with numerous demands, Soroban has only one ask \u2014 install new leadership who can get the trains to operate safely and on time.\u201d<\/span><\/p>\n

Soroban urged Union Pacific to consider its former COO Jim Vena for the position.<\/span><\/p>\n

Seagen Jumps On Reported Pfizer Takeover<\/span><\/h2>\n

Seagen <\/b>(SGEN) shares are up 13.3% in premarket trade following reports that <\/span>Pfizer <\/b>(PFE) is in talks to buy the company.\u00a0<\/span><\/p>\n

The <\/span>Wall Street Journal<\/span><\/a> first reported that Pfizer is in discussions to acquire the biotech company in a deal worth more than $30 billion.<\/span><\/p>\n

The talks are reportedly still in the early stages.<\/span><\/p>\n

Seagen currently has a market value of more than $30 billion so any buyout would be at a premium to that.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

DJIA Futures: +237 (+0.7%) SPX Futures: +33 (+0.8%) NASDAQ Futures: +125 (+1.1%) Good morning friends! Futures are rising as traders attempt to shake off last week. Let\u2019s get right to it! New Week Begins Higher Stocks are rising ahead of the open as traders try to bounce back after the worst week of the year.\u00a0 As stocks are rising, Treasury yields are slipping. The 2-year yield is down 2 basis points to 4.78% after briefly hitting the highest level since July 2007 earlier this morning.\u00a0 The 10-year yield is down 4 basis points to 3.92%.\u00a0 Although earnings season is winding down, traders are looking ahead to results from some key retailers this week.\u00a0 Target (TGT), Costco (COST), Lowe\u2019s (LOW), and Macy\u2019s (M) are all scheduled to report in the days ahead. Durable Goods Orders Slide Durable goods orders fell more than expected in January as consumers pull back on spending on big items.\u00a0 Durable goods are items manufactured to last three years or more, like appliances, TVs, autos, and more.\u00a0 Orders slid 4.5% at the start of the year, worse than expectations for a 3.6% decline.\u00a0 A 13.3% drop in transportation equipment orders propelled that decline.\u00a0 December\u2019s increase was revised to 5.1% from 5.6% previously.\u00a0 But core durable goods orders, which exclude transportation, rose 0.7%, beating expectations for a 0.1% increase.\u00a0 Union Pacific Rallies After CEO Steps Down Union Pacific (UNP) shares are rallying 10.2% ahead of the open after the company\u2019s CEO announced he will step down over the weekend.\u00a0 On Sunday, CEO Lance Fritz said, \u201cUnion Pacific has been my home for 22 years and I am confident that now is the right time for Union Pacific\u2019s next leader to take the helm. I look forward to working with the Board as we identify our next CEO to lead the Company into the future.\u201d The rail operator said it expects to name his replacement this year.\u00a0 The decision came after hedge fund Soroban Capital Partners called for Fritz to be replaced in a letter on Saturday.\u00a0 In a letter, the group said, \u201cUnlike typical shareholder engagements which come with numerous demands, Soroban has only one ask \u2014 install new leadership who can get the trains to operate safely and on time.\u201d Soroban urged Union Pacific to consider its former COO Jim Vena for the position. Seagen Jumps On Reported Pfizer Takeover Seagen (SGEN) shares are up 13.3% in premarket trade following reports that Pfizer (PFE) is in talks to buy the company.\u00a0 The Wall Street Journal first reported that Pfizer is in discussions to acquire the biotech company in a deal worth more than $30 billion. The talks are reportedly still in the early stages. Seagen currently has a market value of more than $30 billion so any buyout would be at a premium to that.\u00a0<\/p>\n","protected":false},"author":41,"featured_media":66492,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-66477","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\/66477","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=66477"}],"version-history":[{"count":2,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/66477\/revisions"}],"predecessor-version":[{"id":66494,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/66477\/revisions\/66494"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/66492"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=66477"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=66477"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=66477"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}