{"id":66835,"date":"2023-03-31T09:01:51","date_gmt":"2023-03-31T13:01:51","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=66835"},"modified":"2023-03-31T09:01:51","modified_gmt":"2023-03-31T13:01:51","slug":"coffee-with-greta-quarter-end","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2023\/03\/31\/coffee-with-greta-quarter-end\/","title":{"rendered":"Coffee With Greta: Quarter End"},"content":{"rendered":"

DJIA Futures: <\/b>+115 (+0.4%)<\/span><\/p>\n

SPX Futures:<\/b> +9 (+0.2%)<\/span><\/p>\n

NASDAQ Futures: <\/b>+7 (+0.1%)<\/span><\/p>\n

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

Futures are rising on the final day of Q1 after the release of better-than-expected inflation data.<\/span><\/p>\n

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

PCE Inflation Cooler Than Expected<\/span><\/h2>\n

The Fed\u2019s preferred inflation gauge rose less than expected in February.\u00a0<\/span><\/p>\n

The personal consumption expenditures (PCE) price index rose 0.3% monthly and 5.0% year over year.\u00a0<\/span><\/p>\n

That was better than expectations for a 0.4% monthly gain and 5.1% annually.\u00a0<\/span><\/p>\n

The core PCE price index, which excludes food, energy, and trade, rose 0.3% monthly and 4.6% year over year.\u00a0<\/span><\/p>\n

That was also cooler than 0.4% monthly and 4.7% annually expected.<\/span><\/p>\n

Both were a cooldown from January as the Fed\u2019s fight against inflation continues.\u00a0<\/span><\/p>\n

Personal incomes also rose more than expected up 0.3% monthly in February vs 0.2% expected.\u00a0<\/span><\/p>\n

But personal spending was lower than expected, rising 0.2% vs 0.3% estimated.<\/span><\/p>\n

Virgin Orbit To Cease Operations<\/span><\/h2>\n

Virgin Orbit<\/b> (VORB) shares are plummeting 41.9% ahead of the open as the company is set to shut down.\u00a0<\/span><\/p>\n

CEO Dan Hart told employees during an all-hands meeting Thursday afternoon that the company is ceasing operations \u201cfor the foreseeable future\u201d and nearly all employees will be laid off.\u00a0<\/span><\/p>\n

Hart said, \u201cUnfortunately, we\u2019ve not been able to secure the funding to provide a clear path for this company.\u201d<\/span><\/p>\n

All but 100 employees will be eliminated, representing about 90% of the workforce.\u00a0<\/span><\/p>\n

Each laid off employee will receive a severance package with a cash payment, extension of benefits, and support in finding a new job.\u00a0<\/span><\/p>\n

Hart said a \u201cdirect pipeline\u201d has been set up with sister company <\/span>Virgin Galactic <\/b>(SPCE) for hiring.<\/span><\/p>\n

Quarter-End<\/span><\/h2>\n

Today is the final day of March, officially marking the end of the first quarter.\u00a0<\/span><\/p>\n

The major indexes are mixed for the quarter.<\/span><\/p>\n

The <\/span>S&P 500 <\/b>and the <\/span>Nasdaq <\/b>are both on track for winning quarters, up 5.5% and 14.8% respectively.\u00a0<\/span><\/p>\n

The <\/span>Dow Jones <\/b>meantime is down slightly for Q1.\u00a0<\/span><\/p>\n

For the month, the S&P has gained 2%, the Nasdaq is up 4.9%, and the Dow is up 0.6%.<\/span><\/p>\n

Coming Up: Consumer Sentiment<\/span><\/h2>\n

The University of Michigan releases its final March consumer sentiment index at 10:00 a.m. ET.\u00a0<\/span><\/p>\n

That index is expected to decline slightly to 63 from the flash reading of 63.4 earlier this month.<\/span><\/p>\n

The survey also includes consumers\u2019 inflation expectations which the Fed has been monitoring in recent months.\u00a0<\/span><\/p>\n

In Case You Missed It<\/span><\/h2>\n
    \n
  • Ford <\/b>(F) shares rose 2% on Thursday after the automaker resumed production and hiked prices on the F-150 Lightning electric pickup truck. The company said it has resumed full production of the truck after pausing back in February due to a battery fire. The F-150 Lightning Pro will now start at a base price of $60,000, roughly 50% higher than the original starting price last Spring. The mid-level Lariat trim will range from $74,500 to just under $76,000. And the top-line Platinum trim will range between $96,900 to just over $98,000.<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"

    DJIA Futures: +115 (+0.4%) SPX Futures: +9 (+0.2%) NASDAQ Futures: +7 (+0.1%) Good morning friends! Futures are rising on the final day of Q1 after the release of better-than-expected inflation data. Let\u2019s get right to it! PCE Inflation Cooler Than Expected The Fed\u2019s preferred inflation gauge rose less than expected in February.\u00a0 The personal consumption expenditures (PCE) price index rose 0.3% monthly and 5.0% year over year.\u00a0 That was better than expectations for a 0.4% monthly gain and 5.1% annually.\u00a0 The core PCE price index, which excludes food, energy, and trade, rose 0.3% monthly and 4.6% year over year.\u00a0 That was also cooler than 0.4% monthly and 4.7% annually expected. Both were a cooldown from January as the Fed\u2019s fight against inflation continues.\u00a0 Personal incomes also rose more than expected up 0.3% monthly in February vs 0.2% expected.\u00a0 But personal spending was lower than expected, rising 0.2% vs 0.3% estimated. Virgin Orbit To Cease Operations Virgin Orbit (VORB) shares are plummeting 41.9% ahead of the open as the company is set to shut down.\u00a0 CEO Dan Hart told employees during an all-hands meeting Thursday afternoon that the company is ceasing operations \u201cfor the foreseeable future\u201d and nearly all employees will be laid off.\u00a0 Hart said, \u201cUnfortunately, we\u2019ve not been able to secure the funding to provide a clear path for this company.\u201d All but 100 employees will be eliminated, representing about 90% of the workforce.\u00a0 Each laid off employee will receive a severance package with a cash payment, extension of benefits, and support in finding a new job.\u00a0 Hart said a \u201cdirect pipeline\u201d has been set up with sister company Virgin Galactic (SPCE) for hiring. Quarter-End Today is the final day of March, officially marking the end of the first quarter.\u00a0 The major indexes are mixed for the quarter. The S&P 500 and the Nasdaq are both on track for winning quarters, up 5.5% and 14.8% respectively.\u00a0 The Dow Jones meantime is down slightly for Q1.\u00a0 For the month, the S&P has gained 2%, the Nasdaq is up 4.9%, and the Dow is up 0.6%. Coming Up: Consumer Sentiment The University of Michigan releases its final March consumer sentiment index at 10:00 a.m. ET.\u00a0 That index is expected to decline slightly to 63 from the flash reading of 63.4 earlier this month. The survey also includes consumers\u2019 inflation expectations which the Fed has been monitoring in recent months.\u00a0 In Case You Missed It Ford (F) shares rose 2% on Thursday after the automaker resumed production and hiked prices on the F-150 Lightning electric pickup truck. The company said it has resumed full production of the truck after pausing back in February due to a battery fire. The F-150 Lightning Pro will now start at a base price of $60,000, roughly 50% higher than the original starting price last Spring. The mid-level Lariat trim will range from $74,500 to just under $76,000. And the top-line Platinum trim will range between $96,900 to just over $98,000.<\/p>\n","protected":false},"author":41,"featured_media":66841,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-66835","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\/66835","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=66835"}],"version-history":[{"count":2,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/66835\/revisions"}],"predecessor-version":[{"id":66844,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/66835\/revisions\/66844"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/66841"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=66835"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=66835"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=66835"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}