{"id":68464,"date":"2023-06-07T09:02:24","date_gmt":"2023-06-07T13:02:24","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=68464"},"modified":"2023-06-07T09:03:13","modified_gmt":"2023-06-07T13:03:13","slug":"coffee-with-greta-10-month-high","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2023\/06\/07\/coffee-with-greta-10-month-high\/","title":{"rendered":"Coffee With Greta: 10-Month High"},"content":{"rendered":"

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

DJIA Futures: <\/b>+11 (+0.03%)<\/span><\/p>\n

SPX Futures: <\/b>+4 (+0.1%)<\/span><\/p>\n

NASDAQ Futures: <\/b>+8 (+0.1%)<\/span><\/p>\n

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

Futures are flat but higher as traders look to extend the recent rally.<\/span><\/p>\n

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

Market Extends Gains<\/span><\/h2>\n

The major indexes are on track to open slightly higher after the <\/span>S&P 500 <\/b>closed at 10-month high on Tuesday.\u00a0<\/span><\/p>\n

The index closed 0.24% higher at 4,283.85, the highest level since August 2022.\u00a0<\/span><\/p>\n

The <\/span>Nasdaq <\/b>also gained 0.36%, notching out its highest close in 2023.\u00a0<\/span><\/p>\n

Some analysts say the recent market action is a bullish signal.\u00a0<\/span><\/p>\n

\u201cThe fact that it refuses to fall to me is extremely bullish,\u201d said Adam Sarhan, CEO of 50 Park Investments. \u201cNormally, after a big run up, you see a market pullback, and when the market doesn\u2019t pull back and goes sideways, that to me is very bullish.\u201d<\/span><\/p>\n

Trade Deficit Hits 6-Month High<\/span><\/h2>\n

The U.S. trade deficit rose less than expected in April.\u00a0<\/span><\/p>\n

The Commerce Department reported that gap jumped 23% to $74.6 billion.\u00a0<\/span><\/p>\n

That was lower than expectations for $75.2 billion but was the highest level in six months as imports rebounded.<\/span><\/p>\n

Imports jumped 1.5% to $323.6 billion while exports fell 3.6% to $249 billion.\u00a0<\/span><\/p>\n

Cathie Wood Buys The COIN Dip<\/span><\/h2>\n

Coinbase <\/b>(COIN) shares are up 3.2% ahead of the open after tumbling 12.1% on Tuesday after the SEC sued the crypto exchange.\u00a0<\/span><\/p>\n

The jump comes after investor Cathie Wood increased her fund\u2019s stake in the stock amid the drop.\u00a0<\/span><\/p>\n

In an email, ARK Invest funds said it added more than 400,000 shares of COIN spread across the <\/span>ARK Innovation ETF <\/b>(ARKK), <\/span>Next Generation Internet ETF <\/b>(ARKW), and<\/span> Fintech Innovation ETF<\/b> (ARKF).<\/span><\/p>\n

Wood\u2019s funds are the second-largest holder of Coinbase with an 11.44 million share stake.<\/span><\/p>\n

Stitch Fix Tops Fiscal Q3 Expectations<\/span><\/h2>\n

Stitch Fix <\/b>(SFIX) shares are up 9.5% in premarket trade after beating fiscal Q3 expectations on the top and bottom line.\u00a0<\/span><\/p>\n

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

    \n
  • Loss per share: $0.19 vs $0.31 expected<\/span><\/li>\n
  • Revenue: $394.9 million vs $389 million expected<\/span><\/li>\n<\/ul>\n

    The company announced further steps to reduce costs including closing its Dallas distribution center next year and letting the lease on another distribution center expire this year.<\/span><\/p>\n

    Stitch Fix also said it would \u201cexplore exiting\u201d the U.K. to focus on its styling business in the U.S.\u00a0<\/span><\/p>\n

    The company said it expects fiscal Q4 revenue between $365 million and $375 million, below analysts estimate of $379 million<\/span><\/p>\n

    In Case You Missed It<\/span><\/h2>\n
      \n
    • Boeing <\/b>(BA) shares fell 0.7% Tuesday after the planemaker warned about a new defect on its 787 Dreamliner planes. The company said the issue is related to a \u201cnonconforming condition\u201d on a horizontal stabilizer fitting. Boeing said this will slow deliveries of the planes in the near-term but it will not impact its full-year delivery outlook.\u00a0<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"

      Register now for my free Q&A event with David Prince on LinkedIn today! DJIA Futures: +11 (+0.03%) SPX Futures: +4 (+0.1%) NASDAQ Futures: +8 (+0.1%) Good morning friends! Futures are flat but higher as traders look to extend the recent rally. Let\u2019s get right to it! Market Extends Gains The major indexes are on track to open slightly higher after the S&P 500 closed at 10-month high on Tuesday.\u00a0 The index closed 0.24% higher at 4,283.85, the highest level since August 2022.\u00a0 The Nasdaq also gained 0.36%, notching out its highest close in 2023.\u00a0 Some analysts say the recent market action is a bullish signal.\u00a0 \u201cThe fact that it refuses to fall to me is extremely bullish,\u201d said Adam Sarhan, CEO of 50 Park Investments. \u201cNormally, after a big run up, you see a market pullback, and when the market doesn\u2019t pull back and goes sideways, that to me is very bullish.\u201d Trade Deficit Hits 6-Month High The U.S. trade deficit rose less than expected in April.\u00a0 The Commerce Department reported that gap jumped 23% to $74.6 billion.\u00a0 That was lower than expectations for $75.2 billion but was the highest level in six months as imports rebounded. Imports jumped 1.5% to $323.6 billion while exports fell 3.6% to $249 billion.\u00a0 Cathie Wood Buys The COIN Dip Coinbase (COIN) shares are up 3.2% ahead of the open after tumbling 12.1% on Tuesday after the SEC sued the crypto exchange.\u00a0 The jump comes after investor Cathie Wood increased her fund\u2019s stake in the stock amid the drop.\u00a0 In an email, ARK Invest funds said it added more than 400,000 shares of COIN spread across the ARK Innovation ETF (ARKK), Next Generation Internet ETF (ARKW), and Fintech Innovation ETF (ARKF). Wood\u2019s funds are the second-largest holder of Coinbase with an 11.44 million share stake. Stitch Fix Tops Fiscal Q3 Expectations Stitch Fix (SFIX) shares are up 9.5% in premarket trade after beating fiscal Q3 expectations on the top and bottom line.\u00a0 Here\u2019s how the styling company\u2019s results compared to analysts\u2019 estimates:\u00a0 Loss per share: $0.19 vs $0.31 expected Revenue: $394.9 million vs $389 million expected The company announced further steps to reduce costs including closing its Dallas distribution center next year and letting the lease on another distribution center expire this year. Stitch Fix also said it would \u201cexplore exiting\u201d the U.K. to focus on its styling business in the U.S.\u00a0 The company said it expects fiscal Q4 revenue between $365 million and $375 million, below analysts estimate of $379 million In Case You Missed It Boeing (BA) shares fell 0.7% Tuesday after the planemaker warned about a new defect on its 787 Dreamliner planes. The company said the issue is related to a \u201cnonconforming condition\u201d on a horizontal stabilizer fitting. Boeing said this will slow deliveries of the planes in the near-term but it will not impact its full-year delivery outlook.\u00a0<\/p>\n","protected":false},"author":41,"featured_media":68473,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-68464","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\/68464","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=68464"}],"version-history":[{"count":3,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/68464\/revisions"}],"predecessor-version":[{"id":68478,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/68464\/revisions\/68478"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/68473"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=68464"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=68464"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=68464"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}