{"id":68919,"date":"2023-06-23T08:58:54","date_gmt":"2023-06-23T12:58:54","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=68919"},"modified":"2023-06-23T08:58:54","modified_gmt":"2023-06-23T12:58:54","slug":"coffee-with-greta-losing-week","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2023\/06\/23\/coffee-with-greta-losing-week\/","title":{"rendered":"Coffee With Greta: Losing Week"},"content":{"rendered":"

Register now<\/a> for next week's pro trader Q&A with Chartered Market Technician Andrew Moss on LinkedIn!<\/strong><\/p>\n

DJIA Futures: <\/b>-194 (-0.6%)<\/span><\/p>\n

SPX Futures: <\/b>-34 (-0.8%)<\/span><\/p>\n

NASDAQ Futures: <\/b>-160 (-1.1%)<\/span><\/p>\n

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

Futures are lower as stocks are headed for a losing week.<\/span><\/p>\n

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

Yields Slip After Fed Speakers<\/span><\/h2>\n

Treasury yields are down this morning as investors digest recent comments from several Fed speakers.\u00a0<\/span><\/p>\n

The 2-year yield is down 9 basis points to 4.71% while the 10-year yield is down 9 basis points to 3.71%.\u00a0<\/span><\/p>\n

In Congressional testimony this week, Fed Chair Jerome Powell reiterated the bank\u2019s plans for additional rate hikes this year.\u00a0<\/span><\/p>\n

Fed Governor Michelle Bowman echoed those comments on Thursday saying she believes rates need to move higher to become \u201csufficiently restrictive\u201d.\u00a0<\/span><\/p>\n

More Fed officials are set to speak today including St Louis Fed President James Bullard and Cleveland Fed President Loretta Mester.<\/span><\/p>\n

CarMax Jumps On Earnings Beat<\/span><\/h2>\n

CarMax <\/b>(KMX) shares are up 6.9% ahead of the open after beating Q1 expectations on the top and bottom line.\u00a0<\/span><\/p>\n

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

    \n
  • Adjusted EPS: $1.16 vs $0.79 expected<\/span><\/li>\n
  • Revenue: $7.69 billion vs $7.49 billion expected<\/span><\/li>\n<\/ul>\n

    Comparable-store sales declined 11.4% year over year, improving from 22.4% in Q3 and 14.1% in Q4.\u00a0<\/span><\/p>\n

    Starbucks Dips As Workers Plan To Strike<\/span><\/h2>\n

    Starbucks <\/b>(SBUX) shares are down 1.8% in premarket trade as the Starbucks Workers United says some employees are planning to strike starting today.\u00a0<\/span><\/p>\n

    The union says more than 150 stores representing nearly 3,500 workers have pledged to join the strikes.\u00a0<\/span><\/p>\n

    The demonstrations come after the union alleged dozens of stores in the U.S. were not allowing workers to decorate for Pride month.\u00a0<\/span><\/p>\n

    But the company said in a statement, \u201cThere has been no change to any policy on this matter and we continue to encourage our store leaders to celebrate with their communities including for U.S. Pride month in June.\u201d<\/span><\/p>\n

    Starbucks added, \u201cWorkers United continues to spread false information about our benefits, policies and negotiation efforts\u2014a tactic used to seemingly divide our partners and deflect from their failure to respond to bargaining sessions for more than 200 stores.\u201d\u00a0<\/span><\/p>\n

    Virgin Galactic Tumbles After Stock Offering<\/span><\/h2>\n

    Virgin Galactic <\/b>(SPCE) shares are tumbling 13.2% ahead of the open after announcing it raised $300 million via an \u201cat the market\u201d common stock offering.\u00a0<\/span><\/p>\n

    That was revealed in a securities filing on Thursday.\u00a0<\/span><\/p>\n

    The company also said it is aiming to raise an additional $400 million through a subsequent offering.\u00a0<\/span><\/p>\n

    The money will be used to fund the development and expansion of Virgin Galactic\u2019s spacecraft fleet.<\/span><\/p>\n

    In Case You Missed It<\/span><\/h2>\n
      \n
    • Existing home sales rose unexpectedly in May. The National Association of Realtors reported Thursday that existing sales rose 0.2% to a seasonally adjusted annual rate of 4.3 million units. That was better than expectations for 4.25 million. The median price of an existing home sold last month dropped 3.1% to $396,100, the largest decline since December 2021. Sales were down 20.4% year over year.<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"

      Register now for next week’s pro trader Q&A with Chartered Market Technician Andrew Moss on LinkedIn! DJIA Futures: -194 (-0.6%) SPX Futures: -34 (-0.8%) NASDAQ Futures: -160 (-1.1%) Good morning friends! Futures are lower as stocks are headed for a losing week. Let\u2019s get right to it! Yields Slip After Fed Speakers Treasury yields are down this morning as investors digest recent comments from several Fed speakers.\u00a0 The 2-year yield is down 9 basis points to 4.71% while the 10-year yield is down 9 basis points to 3.71%.\u00a0 In Congressional testimony this week, Fed Chair Jerome Powell reiterated the bank\u2019s plans for additional rate hikes this year.\u00a0 Fed Governor Michelle Bowman echoed those comments on Thursday saying she believes rates need to move higher to become \u201csufficiently restrictive\u201d.\u00a0 More Fed officials are set to speak today including St Louis Fed President James Bullard and Cleveland Fed President Loretta Mester. CarMax Jumps On Earnings Beat CarMax (KMX) shares are up 6.9% ahead of the open after beating Q1 expectations on the top and bottom line.\u00a0 Here\u2019s how the used car retailer\u2019s results compared to analysts\u2019 estimates:\u00a0 Adjusted EPS: $1.16 vs $0.79 expected Revenue: $7.69 billion vs $7.49 billion expected Comparable-store sales declined 11.4% year over year, improving from 22.4% in Q3 and 14.1% in Q4.\u00a0 Starbucks Dips As Workers Plan To Strike Starbucks (SBUX) shares are down 1.8% in premarket trade as the Starbucks Workers United says some employees are planning to strike starting today.\u00a0 The union says more than 150 stores representing nearly 3,500 workers have pledged to join the strikes.\u00a0 The demonstrations come after the union alleged dozens of stores in the U.S. were not allowing workers to decorate for Pride month.\u00a0 But the company said in a statement, \u201cThere has been no change to any policy on this matter and we continue to encourage our store leaders to celebrate with their communities including for U.S. Pride month in June.\u201d Starbucks added, \u201cWorkers United continues to spread false information about our benefits, policies and negotiation efforts\u2014a tactic used to seemingly divide our partners and deflect from their failure to respond to bargaining sessions for more than 200 stores.\u201d\u00a0 Virgin Galactic Tumbles After Stock Offering Virgin Galactic (SPCE) shares are tumbling 13.2% ahead of the open after announcing it raised $300 million via an \u201cat the market\u201d common stock offering.\u00a0 That was revealed in a securities filing on Thursday.\u00a0 The company also said it is aiming to raise an additional $400 million through a subsequent offering.\u00a0 The money will be used to fund the development and expansion of Virgin Galactic\u2019s spacecraft fleet. In Case You Missed It Existing home sales rose unexpectedly in May. The National Association of Realtors reported Thursday that existing sales rose 0.2% to a seasonally adjusted annual rate of 4.3 million units. That was better than expectations for 4.25 million. The median price of an existing home sold last month dropped 3.1% to $396,100, the largest decline since December 2021. Sales were down 20.4% year over year.<\/p>\n","protected":false},"author":41,"featured_media":68923,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-68919","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\/68919","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=68919"}],"version-history":[{"count":2,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/68919\/revisions"}],"predecessor-version":[{"id":68925,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/68919\/revisions\/68925"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/68923"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=68919"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=68919"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=68919"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}