{"id":67867,"date":"2023-05-11T09:05:12","date_gmt":"2023-05-11T13:05:12","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=67867"},"modified":"2023-05-11T09:05:12","modified_gmt":"2023-05-11T13:05:12","slug":"coffee-with-greta-more-good-inflation-news","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2023\/05\/11\/coffee-with-greta-more-good-inflation-news\/","title":{"rendered":"Coffee With Greta: More Good Inflation News"},"content":{"rendered":"

DJIA Futures: <\/b>-128 (0.4%)<\/span><\/p>\n

SPX Futures: <\/b>-3 (-0.1%)<\/span><\/p>\n

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

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

Futures are mixed as traders digest more inflation data, jobs data, and earnings.<\/span><\/p>\n

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

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

U.S. wholesale inflation pressures cooled more than expected in April, in a sign that consumer prices will continue to fall.\u00a0<\/span><\/p>\n

The Bureau of Labor Statistics\u2019 producer price index rose 0.2% last month and 2.3% year over year.\u00a0<\/span><\/p>\n

That was better than expectations for +0.3% monthly and +2.5% annually.\u00a0<\/span><\/p>\n

It was also the lowest annual reading since January 2021.<\/span><\/p>\n

The core PPI rose 0.2% monthly and 3.2% annually, in line with expectations on a monthly basis and better than 3.3% annually expected.\u00a0<\/span><\/p>\n

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

Weekly jobless claims jumped last week to a nearly two-year high.\u00a0\u00a0<\/span><\/p>\n

The Labor Department reported 264,000 Americans filed initial claims for unemployment benefits.\u00a0<\/span><\/p>\n

That was up by 22,000 from the previous week and higher than 245,000 expected and the highest level since October 2021.\u00a0<\/span><\/p>\n

The data is a sign of tightening in the labor market, which is what the Fed wants to see.\u00a0<\/span><\/p>\n

Continuing claims fell by 63,900 to 1.72 million in the week ending April 22.<\/span><\/p>\n

PacWest Deposits Tumble<\/span><\/h2>\n

PacWest Bancorp <\/b>(PACW) shares are plunging 18.9% in premarket trade after the regional bank revealed a steep drop in deposits last week.\u00a0<\/span><\/p>\n

In an <\/span>SEC filing<\/span><\/a> today, PACW said deposits declined 9.5% during the week of May 5.\u00a0<\/span><\/p>\n

But the bank said it was able to fund all of the withdrawals with available liquidity.\u00a0<\/span><\/p>\n

PacWest said it now has $15 billion of available liquidity vs $5.2 billion in uninsured deposits.\u00a0<\/span><\/p>\n

The latest drop in deposits comes on top of the 16.9% decline the bank reported in Q1.\u00a0<\/span><\/p>\n

Disney Falls As Subscriber Numbers Drop<\/span><\/h2>\n

Walt Disney <\/b>(DIS) shares are down 5.3% ahead of the open after the company reported fiscal Q2 results that were in line with expectations, but subscriber numbers declined.<\/span><\/p>\n

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

    \n
  • EPS: $0.93, as expected<\/span><\/li>\n
  • Revenue: $21.82 billion vs $21.78 billion expected<\/span><\/li>\n
  • Disney+ subscribers: 157.8 million vs 163.17 million expected<\/span><\/li>\n<\/ul>\n

    The company lost 4 million Disney+ subscribers, or 2%, during the quarter.<\/span><\/p>\n

    But Disney\u2019s streaming losses were better than estimates at $659 million vs $841 million expected.<\/span><\/p>\n

    But the parks, experiences, and products divisions were a bright spot as revenue jumped 17% to $7.7 billion.\u00a0<\/span><\/p>\n

    About $5.5 billion of that revenue was from Disney\u2019s theme park locations.<\/span><\/p>\n

    Robinhood Jumps After Earnings Beat<\/span><\/h2>\n

    Robinhood <\/b>(HOOD) shares are up 3.9% in premarket trade after beating Q1 expectations on the top and bottom line.\u00a0<\/span><\/p>\n

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

      \n
    • Loss per share: $0.57 vs $0.62 expected<\/span><\/li>\n
    • Revenue: $441 million vs $425 million expected<\/span><\/li>\n<\/ul>\n

      Robinhood added 120,000 customers during the quarter, bringing the total to 23.1 million vs 23.05 million expected.\u00a0<\/span><\/p>\n

      The company made more money on deposits last quarter than trading, as it offered above-average interest rates.\u00a0<\/span><\/p>\n

      And stock-trading declined with monthly active users falling 26% year over year to 11.8 million.<\/span><\/p>\n

      Robinhood announced it will allow 24 hour trading, Monday through Friday, on a select group of stocks starting next week.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

      DJIA Futures: -128 (0.4%) SPX Futures: -3 (-0.1%) NASDAQ Futures: +33 (+0.3%) Good morning friends! Futures are mixed as traders digest more inflation data, jobs data, and earnings. Let\u2019s get right to it! Wholesale Inflation Eases U.S. wholesale inflation pressures cooled more than expected in April, in a sign that consumer prices will continue to fall.\u00a0 The Bureau of Labor Statistics\u2019 producer price index rose 0.2% last month and 2.3% year over year.\u00a0 That was better than expectations for +0.3% monthly and +2.5% annually.\u00a0 It was also the lowest annual reading since January 2021. The core PPI rose 0.2% monthly and 3.2% annually, in line with expectations on a monthly basis and better than 3.3% annually expected.\u00a0 Weekly Jobless Claims Jump Weekly jobless claims jumped last week to a nearly two-year high.\u00a0\u00a0 The Labor Department reported 264,000 Americans filed initial claims for unemployment benefits.\u00a0 That was up by 22,000 from the previous week and higher than 245,000 expected and the highest level since October 2021.\u00a0 The data is a sign of tightening in the labor market, which is what the Fed wants to see.\u00a0 Continuing claims fell by 63,900 to 1.72 million in the week ending April 22. PacWest Deposits Tumble PacWest Bancorp (PACW) shares are plunging 18.9% in premarket trade after the regional bank revealed a steep drop in deposits last week.\u00a0 In an SEC filing today, PACW said deposits declined 9.5% during the week of May 5.\u00a0 But the bank said it was able to fund all of the withdrawals with available liquidity.\u00a0 PacWest said it now has $15 billion of available liquidity vs $5.2 billion in uninsured deposits.\u00a0 The latest drop in deposits comes on top of the 16.9% decline the bank reported in Q1.\u00a0 Disney Falls As Subscriber Numbers Drop Walt Disney (DIS) shares are down 5.3% ahead of the open after the company reported fiscal Q2 results that were in line with expectations, but subscriber numbers declined. Here\u2019s how the entertainment company\u2019s results compared to analysts\u2019 estimates:\u00a0 EPS: $0.93, as expected Revenue: $21.82 billion vs $21.78 billion expected Disney+ subscribers: 157.8 million vs 163.17 million expected The company lost 4 million Disney+ subscribers, or 2%, during the quarter. But Disney\u2019s streaming losses were better than estimates at $659 million vs $841 million expected. But the parks, experiences, and products divisions were a bright spot as revenue jumped 17% to $7.7 billion.\u00a0 About $5.5 billion of that revenue was from Disney\u2019s theme park locations. Robinhood Jumps After Earnings Beat Robinhood (HOOD) shares are up 3.9% in premarket trade after beating Q1 expectations on the top and bottom line.\u00a0 Here\u2019s how the online broker\u2019s results compared to analysts\u2019 estimates:\u00a0 Loss per share: $0.57 vs $0.62 expected Revenue: $441 million vs $425 million expected Robinhood added 120,000 customers during the quarter, bringing the total to 23.1 million vs 23.05 million expected.\u00a0 The company made more money on deposits last quarter than trading, as it offered above-average interest rates.\u00a0 And stock-trading declined with monthly active users falling 26% year over year to 11.8 million. Robinhood announced it will allow 24 hour trading, Monday through Friday, on a select group of stocks starting next week.<\/p>\n","protected":false},"author":41,"featured_media":67871,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-67867","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\/67867","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=67867"}],"version-history":[{"count":2,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/67867\/revisions"}],"predecessor-version":[{"id":67874,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/67867\/revisions\/67874"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/67871"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=67867"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=67867"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=67867"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}