{"id":67090,"date":"2023-04-13T09:04:51","date_gmt":"2023-04-13T13:04:51","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=67090"},"modified":"2023-04-13T09:04:51","modified_gmt":"2023-04-13T13:04:51","slug":"coffee-with-greta-wholesale-inflation-tumbles","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2023\/04\/13\/coffee-with-greta-wholesale-inflation-tumbles\/","title":{"rendered":"Coffee With Greta: Wholesale Inflation Tumbles"},"content":{"rendered":"

DJIA Futures: <\/b>+57 (+0.2%)<\/span><\/p>\n

SPX Futures: <\/b>+11 (+0.3%)<\/span><\/p>\n

NASDAQ Futures: <\/b>+58 (+0.5%)<\/span><\/p>\n

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

Futures are rising as another report points to cooling inflation pressures.<\/span><\/p>\n

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

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

Wholesale inflation pressures unexpectedly dropped in March.\u00a0<\/span><\/p>\n

The Bureau of Labor Statistics\u2019 producer price index fell 0.5% monthly and rose just 2.7% year over year.\u00a0<\/span><\/p>\n

That was better than expectations for the index to be unchanged on a monthly basis and a sharp slowdown from the 4.9% annual gain in February.\u00a0<\/span><\/p>\n

It was the largest drop in 3 years, driven mostly by lower energy prices.<\/span><\/p>\n

Energy prices tumbled 6.4% last month while food prices rose 0.6%.\u00a0<\/span><\/p>\n

The core PPI, which excludes food and energy, rose 0.1% monthly and 3.6% annually last month vs expectations for a 0.3% monthly increase.\u00a0<\/span><\/p>\n

The data points to cooling inflation pressures for Americans as producers pass down price changes to consumers.\u00a0<\/span><\/p>\n

Weekly Jobless Claims Rise<\/span><\/h2>\n

Weekly jobless claims rose more than expected last week, a sign the labor market is continuing to cool.\u00a0<\/span><\/p>\n

The Labor Department reported 239,000 Americans filed initial unemployment claims.\u00a0<\/span><\/p>\n

That was up by 11,000 from the previous week and higher than 232,000 expected.\u00a0<\/span><\/p>\n

But claims still remain below the 270,000 level which economists say would signal a deterioration in the labor market.\u00a0<\/span><\/p>\n

Continuing jobless claims fell by 13,000 to 1.81 million in the week ending April 1.\u00a0<\/span><\/p>\n

Delta Jumps On Strong Outlook<\/span><\/h2>\n

Delta Airlines <\/b>(DAL) shares are rising 2.6% ahead of the open despite missing Q1 expectations on the top and bottom line.\u00a0<\/span><\/p>\n

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

    \n
  • Adjusted EPS: $0.25 vs $0.30 expected<\/span><\/li>\n
  • Adjusted revenue: $11.84 billion vs $11.99 billion expected<\/span><\/li>\n<\/ul>\n

    But Delta\u2019s Q2 forecast was better than expected, signaling strong travel demand.\u00a0<\/span><\/p>\n

    The airline expects Q2 sales to increase 15% to 17% year over year with adjusted EPS between $2 and $2.25.<\/span><\/p>\n

    That topped analysts\u2019 estimates for revenue growth of 14.7% and EPS of $1.66.\u00a0<\/span><\/p>\n

    Delta said it expects \u201crecord advance bookings for the summer.\u201d<\/span><\/p>\n

    That strong outlook is also boosting other airlines in premarket trade with <\/span>United Airlines <\/b>(UAL) shares up 2.8% and <\/span>American Airlines <\/b>(AAL) shares up 2.0%.<\/span><\/p>\n

    In Case You Missed It<\/span><\/h2>\n
      \n
    • The Fed\u2019s March meeting minutes were released on Wednesday and showed officials expect the U.S. economy to fall into a \u201cmild recession\u201d later this year due to the banking crisis. The minutes also showed several members were leaning toward a 50 basis point rate hike at the last meeting prior to the banking problems. Officials said inflation is still \u201cmuch too high\u201d but stressed they will remain data-dependent in upcoming meetings.\u00a0<\/span><\/li>\n
    • American Airlines <\/b>(AAL) shares tumbled 9.2% on Wednesday after the company updated its Q1 forecast. American said it expects to report Q1 adjusted EPS between $0.01 and $0.05. That was better than the previous outlook for earnings to break even but below analysts\u2019 estimates of $0.06.\u00a0<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"

      DJIA Futures: +57 (+0.2%) SPX Futures: +11 (+0.3%) NASDAQ Futures: +58 (+0.5%) Good morning friends! Futures are rising as another report points to cooling inflation pressures. Let\u2019s get right to it! Wholesale Inflation Tumbles Wholesale inflation pressures unexpectedly dropped in March.\u00a0 The Bureau of Labor Statistics\u2019 producer price index fell 0.5% monthly and rose just 2.7% year over year.\u00a0 That was better than expectations for the index to be unchanged on a monthly basis and a sharp slowdown from the 4.9% annual gain in February.\u00a0 It was the largest drop in 3 years, driven mostly by lower energy prices. Energy prices tumbled 6.4% last month while food prices rose 0.6%.\u00a0 The core PPI, which excludes food and energy, rose 0.1% monthly and 3.6% annually last month vs expectations for a 0.3% monthly increase.\u00a0 The data points to cooling inflation pressures for Americans as producers pass down price changes to consumers.\u00a0 Weekly Jobless Claims Rise Weekly jobless claims rose more than expected last week, a sign the labor market is continuing to cool.\u00a0 The Labor Department reported 239,000 Americans filed initial unemployment claims.\u00a0 That was up by 11,000 from the previous week and higher than 232,000 expected.\u00a0 But claims still remain below the 270,000 level which economists say would signal a deterioration in the labor market.\u00a0 Continuing jobless claims fell by 13,000 to 1.81 million in the week ending April 1.\u00a0 Delta Jumps On Strong Outlook Delta Airlines (DAL) shares are rising 2.6% ahead of the open despite missing Q1 expectations on the top and bottom line.\u00a0 Here\u2019s how the airline\u2019s results compared to analysts\u2019 estimates:\u00a0 Adjusted EPS: $0.25 vs $0.30 expected Adjusted revenue: $11.84 billion vs $11.99 billion expected But Delta\u2019s Q2 forecast was better than expected, signaling strong travel demand.\u00a0 The airline expects Q2 sales to increase 15% to 17% year over year with adjusted EPS between $2 and $2.25. That topped analysts\u2019 estimates for revenue growth of 14.7% and EPS of $1.66.\u00a0 Delta said it expects \u201crecord advance bookings for the summer.\u201d That strong outlook is also boosting other airlines in premarket trade with United Airlines (UAL) shares up 2.8% and American Airlines (AAL) shares up 2.0%. In Case You Missed It The Fed\u2019s March meeting minutes were released on Wednesday and showed officials expect the U.S. economy to fall into a \u201cmild recession\u201d later this year due to the banking crisis. The minutes also showed several members were leaning toward a 50 basis point rate hike at the last meeting prior to the banking problems. Officials said inflation is still \u201cmuch too high\u201d but stressed they will remain data-dependent in upcoming meetings.\u00a0 American Airlines (AAL) shares tumbled 9.2% on Wednesday after the company updated its Q1 forecast. American said it expects to report Q1 adjusted EPS between $0.01 and $0.05. That was better than the previous outlook for earnings to break even but below analysts\u2019 estimates of $0.06.\u00a0<\/p>\n","protected":false},"author":41,"featured_media":67099,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-67090","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\/67090","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=67090"}],"version-history":[{"count":2,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/67090\/revisions"}],"predecessor-version":[{"id":67102,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/67090\/revisions\/67102"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/67099"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=67090"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=67090"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=67090"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}