{"id":68324,"date":"2023-05-31T09:01:13","date_gmt":"2023-05-31T13:01:13","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=68324"},"modified":"2023-05-31T09:01:13","modified_gmt":"2023-05-31T13:01:13","slug":"coffee-with-greta-waiting-on-a-vote","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2023\/05\/31\/coffee-with-greta-waiting-on-a-vote\/","title":{"rendered":"Coffee With Greta: Waiting On A Vote"},"content":{"rendered":"

Register now<\/a> for my free Q&A with David Prince today!<\/strong><\/p>\n

DJIA Futures: <\/b>-112 (-0.3%)<\/span><\/p>\n

SPX Futures: <\/b>-20 (-0.5%)<\/span><\/p>\n

NASDAQ Futures: <\/b>-67 (-0.5%)<\/span><\/p>\n

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

Futures are slipping as traders await a vote on the debt ceiling deal in the House.<\/span><\/p>\n

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

Debt Ceiling Deal Clears Key Committee<\/span><\/h2>\n

The House Rules Committee advanced the debt ceiling deal reached by President Biden and House Speaker Kevin McCarthy Tuesday night.\u00a0<\/span><\/p>\n

The committee approved the bill in a 7-6 vote, sending it to the full House for a vote.\u00a0<\/span><\/p>\n

A floor vote on the deal is expected around 8:30 p.m. ET today.\u00a0<\/span><\/p>\n

A group of 20 House Republicans came out against the bill on Tuesday but it is still expected to pass the lower chamber.\u00a0<\/span><\/p>\n

The legislation would then be sent to the Senate for a vote.<\/span><\/p>\n

American Airlines Raises Profit Outlook<\/span><\/h2>\n

American Airlines <\/b>(AAL) shares are up 2.4% ahead of the open after hiking its Q2 profit outlook.\u00a0<\/span><\/p>\n

The airline now expects adjusted EPS between $1.45 and $1.65 this quarter vs $1.20 to $1.40 previously.\u00a0<\/span><\/p>\n

The higher forecast is thanks to strong travel demand and lower fuel prices.\u00a0<\/span><\/p>\n

Hewlett Packard Reports Mixed Results<\/span><\/h2>\n

HP Inc <\/b>(HPQ) shares are down 5.7% in premarket trade after reporting mixed fiscal Q2 results.\u00a0<\/span><\/p>\n

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

    \n
  • Non-GAAP EPS: $0.80 vs $0.76 expected<\/span><\/li>\n
  • Revenue: $12.9 billion vs $13.1 billion expected<\/span><\/li>\n<\/ul>\n

    It was HP\u2019s lowest quarterly revenue since the April 2020 quarter.<\/span><\/p>\n

    Sales in the company\u2019s Personal Systems group, which is its PC business, dropped 29% year over year to $8.2 billion vs $8.4 billion expected.\u00a0<\/span><\/p>\n

    HP forecast fiscal Q3 non-GAAP EPS of $0.81 to $0.91 vs $0.85 expected.\u00a0<\/span><\/p>\n

    The company narrowed its full-year forecast range for non-GAAP EPS to $3.30 to $3.50 vs $3.20 to $3.60 previously.\u00a0<\/span><\/p>\n

    Mortgage Demand Drops to 3-Month Low<\/span><\/h2>\n

    Mortgage demand fell to a three-month low last week as rates shot higher.\u00a0<\/span><\/p>\n

    The Mortgage Bankers Association reported purchase applications dropped 3% weekly and were down 31% year over year.\u00a0<\/span><\/p>\n

    Refinance applications fell 7% weekly and 45% annually.\u00a0<\/span><\/p>\n

    The drop came as the average 30-year contract rate popped higher to 6.91% from 6.69% the previously week.\u00a0<\/span><\/p>\n

    In Case You Missed It<\/span><\/h2>\n
      \n
    • Home prices rose in March as buyers continue to struggle with low inventory. The S&P CoreLogic Case-Shiller national home price index rose 0.7% in March compared to March 2022. The index also rose 0.4% monthly. The release said, \u201cMarch\u2019s results suggest that the decline in home prices that began in June 2022 may have come to an end.\u201d The 20-city index fell 1.1% annually and rose 0.5% monthly while the 10-city index dropped 0.8% annually and rose 0.6% monthly.\u00a0<\/span><\/li>\n
    • Consumer confidence slipped to a 6-month low in May. The Conference Board\u2019s consumer confidence index fell to 102.3 from 103.7 in April. That was better than expectations for the index to fall to 99. Consumers are feeling less confident about the labor market. The share of respondents who viewed jobs as \u201cplentiful\u201d fell to the lowest level since April 2021 while those who said jobs are \u201chard to get\u201d hit a six-month high.\u00a0<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"

      Register now for my free Q&A with David Prince today! DJIA Futures: -112 (-0.3%) SPX Futures: -20 (-0.5%) NASDAQ Futures: -67 (-0.5%) Good morning friends! Futures are slipping as traders await a vote on the debt ceiling deal in the House. Let\u2019s get right to it! Debt Ceiling Deal Clears Key Committee The House Rules Committee advanced the debt ceiling deal reached by President Biden and House Speaker Kevin McCarthy Tuesday night.\u00a0 The committee approved the bill in a 7-6 vote, sending it to the full House for a vote.\u00a0 A floor vote on the deal is expected around 8:30 p.m. ET today.\u00a0 A group of 20 House Republicans came out against the bill on Tuesday but it is still expected to pass the lower chamber.\u00a0 The legislation would then be sent to the Senate for a vote. American Airlines Raises Profit Outlook American Airlines (AAL) shares are up 2.4% ahead of the open after hiking its Q2 profit outlook.\u00a0 The airline now expects adjusted EPS between $1.45 and $1.65 this quarter vs $1.20 to $1.40 previously.\u00a0 The higher forecast is thanks to strong travel demand and lower fuel prices.\u00a0 Hewlett Packard Reports Mixed Results HP Inc (HPQ) shares are down 5.7% in premarket trade after reporting mixed fiscal Q2 results.\u00a0 Here\u2019s how the PC maker\u2019s results compared to analysts\u2019 estimates:\u00a0 Non-GAAP EPS: $0.80 vs $0.76 expected Revenue: $12.9 billion vs $13.1 billion expected It was HP\u2019s lowest quarterly revenue since the April 2020 quarter. Sales in the company\u2019s Personal Systems group, which is its PC business, dropped 29% year over year to $8.2 billion vs $8.4 billion expected.\u00a0 HP forecast fiscal Q3 non-GAAP EPS of $0.81 to $0.91 vs $0.85 expected.\u00a0 The company narrowed its full-year forecast range for non-GAAP EPS to $3.30 to $3.50 vs $3.20 to $3.60 previously.\u00a0 Mortgage Demand Drops to 3-Month Low Mortgage demand fell to a three-month low last week as rates shot higher.\u00a0 The Mortgage Bankers Association reported purchase applications dropped 3% weekly and were down 31% year over year.\u00a0 Refinance applications fell 7% weekly and 45% annually.\u00a0 The drop came as the average 30-year contract rate popped higher to 6.91% from 6.69% the previously week.\u00a0 In Case You Missed It Home prices rose in March as buyers continue to struggle with low inventory. The S&P CoreLogic Case-Shiller national home price index rose 0.7% in March compared to March 2022. The index also rose 0.4% monthly. The release said, \u201cMarch\u2019s results suggest that the decline in home prices that began in June 2022 may have come to an end.\u201d The 20-city index fell 1.1% annually and rose 0.5% monthly while the 10-city index dropped 0.8% annually and rose 0.6% monthly.\u00a0 Consumer confidence slipped to a 6-month low in May. The Conference Board\u2019s consumer confidence index fell to 102.3 from 103.7 in April. That was better than expectations for the index to fall to 99. Consumers are feeling less confident about the labor market. The share of respondents who viewed jobs as \u201cplentiful\u201d fell to the lowest level since April 2021 while those who said jobs are \u201chard to get\u201d hit a six-month high.\u00a0<\/p>\n","protected":false},"author":41,"featured_media":68328,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-68324","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\/68324","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=68324"}],"version-history":[{"count":2,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/68324\/revisions"}],"predecessor-version":[{"id":68331,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/68324\/revisions\/68331"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/68328"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=68324"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=68324"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=68324"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}