{"id":68431,"date":"2023-06-05T09:01:13","date_gmt":"2023-06-05T13:01:13","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=68431"},"modified":"2023-06-05T09:01:13","modified_gmt":"2023-06-05T13:01:13","slug":"coffee-with-greta-new-week","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2023\/06\/05\/coffee-with-greta-new-week\/","title":{"rendered":"Coffee With Greta: New Week"},"content":{"rendered":"

DJIA Futures: <\/b>-3 (-0.01%)<\/span><\/p>\n

SPX Futures: <\/b>+2 (+0.04%)<\/span><\/p>\n

NASDAQ Futures: <\/b>-13 (-0.1%)<\/span><\/p>\n

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

Futures are flat after the market\u2019s best week since March.<\/span><\/p>\n

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

IMF Chief Calls For More Rate Hikes<\/span><\/h2>\n

The International Monetary Fund\u2019s managing director says lending has not slowed enough to warrant the Fed pausing its rate-hiking cycle.\u00a0<\/span><\/p>\n

Kristalina Georgieva told CNBC over the weekend, \u201cWe don\u2019t yet see a significant slowdown in lending. There is some, but not on the scale that would lead to the Fed stepping back.\u201d<\/span><\/p>\n

She said the strong jobs report on Friday supports the Fed hiking rates again this month.\u00a0<\/span><\/p>\n

Georgieva added, \u201cThe pressure that comes from incomes going up and in unemployment being still very, very low, means that the Fed will have to stay the course and perhaps in our view, they may need to do a little bit more.\u201d<\/span><\/p>\n

She called on the central bank to \u201cpay attention to trends and be agile, adjusting \u2014 should the trends change.\u201d<\/span><\/p>\n

Oil Prices Pop<\/span><\/h2>\n

Oil prices are rallying this morning after Saudi Arabia pledged more voluntary production cuts.\u00a0<\/span><\/p>\n

West Texas Intermediate crude futures are up 2.7% to $73.65 bbl while Brent crude futures are up 2.5% to $78 bbl.<\/span><\/p>\n

OPEC+ made no changes to its planned cuts for the rest of the year but Saudi Arabia announced it will cut production by another 1 million barrels per day starting in July.\u00a0<\/span><\/p>\n

Saudi production will fall to 9 million bpd from around 10 million in May.\u00a0<\/span><\/p>\n

Apple Rises Ahead of WWDC<\/span><\/h2>\n

Apple <\/b>(AAPL) shares are up 0.9% ahead of the open ahead of the company\u2019s Worldwide Developers Conference.\u00a0<\/span><\/p>\n

The WWDC kicks off today in Cupertino, California.\u00a0<\/span><\/p>\n

Apple is widely expected to announce a \u201cReality Pro\u201d mixed reality headset.<\/span><\/p>\n

The headset is rumored to offer both virtual reality and augmented reality.<\/span><\/p>\n

The company is also expected to reveal new MacBooks and iOS 17 while will include new features for the iPhone, iPad, and Apple Watch<\/span><\/p>\n

Spotify Announces Layoffs<\/span><\/h2>\n

Spotify <\/b>(SPOT) shares are slipping 0.2% in premarket trade after the company announced it will layoff roughly 200 employees.\u00a0<\/span><\/p>\n

The cuts represent just 2% of Spotify\u2019s workforce and are part of a \u201cpivot\u201d in its podcasting unit.\u00a0<\/span><\/p>\n

The vice president said those impacted will receive \u201cgenerous severance packages\u201d.<\/span><\/p>\n

Quieter Week<\/span><\/h2>\n

This will be a slower week of economic data for traders.<\/span><\/p>\n

Later this morning the S&P Global services PMI for May will be released at 9:45 a.m. ET followed by April factory orders and the ISM services PMI at 10:00 a.m.\u00a0<\/span><\/p>\n

Then on Wednesday, the April trade deficit will be released at 8:30 a.m. and the April consumer credit report will be out at 3:00 p.m.<\/span><\/p>\n

Weekly jobless claims will be reported Thursday at 8:30 a.m. with April wholesale inventories at 10:00 a.m.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

DJIA Futures: -3 (-0.01%) SPX Futures: +2 (+0.04%) NASDAQ Futures: -13 (-0.1%) Good morning friends! Futures are flat after the market\u2019s best week since March. Let\u2019s get right to it! IMF Chief Calls For More Rate Hikes The International Monetary Fund\u2019s managing director says lending has not slowed enough to warrant the Fed pausing its rate-hiking cycle.\u00a0 Kristalina Georgieva told CNBC over the weekend, \u201cWe don\u2019t yet see a significant slowdown in lending. There is some, but not on the scale that would lead to the Fed stepping back.\u201d She said the strong jobs report on Friday supports the Fed hiking rates again this month.\u00a0 Georgieva added, \u201cThe pressure that comes from incomes going up and in unemployment being still very, very low, means that the Fed will have to stay the course and perhaps in our view, they may need to do a little bit more.\u201d She called on the central bank to \u201cpay attention to trends and be agile, adjusting \u2014 should the trends change.\u201d Oil Prices Pop Oil prices are rallying this morning after Saudi Arabia pledged more voluntary production cuts.\u00a0 West Texas Intermediate crude futures are up 2.7% to $73.65 bbl while Brent crude futures are up 2.5% to $78 bbl. OPEC+ made no changes to its planned cuts for the rest of the year but Saudi Arabia announced it will cut production by another 1 million barrels per day starting in July.\u00a0 Saudi production will fall to 9 million bpd from around 10 million in May.\u00a0 Apple Rises Ahead of WWDC Apple (AAPL) shares are up 0.9% ahead of the open ahead of the company\u2019s Worldwide Developers Conference.\u00a0 The WWDC kicks off today in Cupertino, California.\u00a0 Apple is widely expected to announce a \u201cReality Pro\u201d mixed reality headset. The headset is rumored to offer both virtual reality and augmented reality. The company is also expected to reveal new MacBooks and iOS 17 while will include new features for the iPhone, iPad, and Apple Watch Spotify Announces Layoffs Spotify (SPOT) shares are slipping 0.2% in premarket trade after the company announced it will layoff roughly 200 employees.\u00a0 The cuts represent just 2% of Spotify\u2019s workforce and are part of a \u201cpivot\u201d in its podcasting unit.\u00a0 The vice president said those impacted will receive \u201cgenerous severance packages\u201d. Quieter Week This will be a slower week of economic data for traders. Later this morning the S&P Global services PMI for May will be released at 9:45 a.m. ET followed by April factory orders and the ISM services PMI at 10:00 a.m.\u00a0 Then on Wednesday, the April trade deficit will be released at 8:30 a.m. and the April consumer credit report will be out at 3:00 p.m. Weekly jobless claims will be reported Thursday at 8:30 a.m. with April wholesale inventories at 10:00 a.m.\u00a0<\/p>\n","protected":false},"author":41,"featured_media":68433,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-68431","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\/68431","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=68431"}],"version-history":[{"count":1,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/68431\/revisions"}],"predecessor-version":[{"id":68435,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/68431\/revisions\/68435"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/68433"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=68431"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=68431"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=68431"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}