{"id":69127,"date":"2023-06-30T09:03:27","date_gmt":"2023-06-30T13:03:27","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=69127"},"modified":"2023-06-30T09:03:27","modified_gmt":"2023-06-30T13:03:27","slug":"coffee-with-greta-good-inflation-news","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2023\/06\/30\/coffee-with-greta-good-inflation-news\/","title":{"rendered":"Coffee With Greta: Good Inflation News"},"content":{"rendered":"

Note:<\/strong> I will be out of office next week so there will be no Coffee With Greta. See you all Monday, July 10 and enjoy the holiday week!<\/p>\n

DJIA Futures: <\/b>+151 (+0.4%)<\/span><\/p>\n

SPX Futures: <\/b>+27 (+0.6%)<\/span><\/p>\n

NASDAQ Futures: <\/b>+135 (+0.9%)<\/span><\/p>\n

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

Futures are rising after the release of encouraging new inflation data.\u00a0<\/span><\/p>\n

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

PCE Inflation Continues To Cool<\/span><\/h2>\n

The Fed\u2019s preferred inflation gauge continued to cool in May.\u00a0<\/span><\/p>\n

The Bureau of Economic Analysis\u2019 personal consumption expenditures price index rose 0.1% monthly and 3.8% year over year.<\/span><\/p>\n

That was in line with expectations and down by 4.3% annually in April.\u00a0<\/span><\/p>\n

It was the lowest headline reading since April 2021.\u00a0<\/span><\/p>\n

The core PCE price index, which excludes food and energy prices, rose 0.3% monthly and 4.6% annually.\u00a0<\/span><\/p>\n

That was slightly cooler than expectations for 4.6% annually.\u00a0<\/span><\/p>\n

But the data also showed consumer spending slowed in May.\u00a0<\/span><\/p>\n

Consumer spending rose just 0.1% last month vs 0.2% expected and down from 0.8% in April.\u00a0<\/span><\/p>\n

Personal incomes rose 0.4%, better than 0.3% expected.<\/span><\/p>\n

Nike Drops On Earnings Miss<\/span><\/h2>\n

Nike <\/b>(NKE) shares are down 2.5% ahead of the open after missing fiscal Q4 profit expectations.\u00a0<\/span><\/p>\n

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

    \n
  • EPS: $0.66 vs $0.67 expected<\/span><\/li>\n
  • Revenue: $12.83 billion vs $12.59 billion expected<\/span><\/li>\n<\/ul>\n

    It was Nike\u2019s first earnings miss in three years as lower margins weighed on profits.\u00a0<\/span><\/p>\n

    Margins fell 1.4% to 43.6% which the company blamed on higher product input costs, elevated freight and logistics costs, more promotions, and unfavorable currency exchange rates.<\/span><\/p>\n

    Apple Tops $3 Trillion Valuation<\/span><\/h2>\n

    Apple <\/b>(AAPL) shares are rising 1.1% in premarket trade with the company\u2019s market cap surpassing $3 trillion.\u00a0<\/span><\/p>\n

    The threshold for that milestone is just $190.73 per share and the stock is currently trading about $1 higher than that.<\/span><\/p>\n

    Apple became the first company in history to hit the $3 trillion market cap during intraday trade in January 2022.\u00a0<\/span><\/p>\n

    But it failed to close above that milestone.\u00a0<\/span><\/p>\n

    AAPL shares are up about 46% so far this year.<\/span><\/p>\n

    In Case You Missed It<\/span><\/h2>\n
      \n
    • Pending home sales fell unexpectedly in May. The National Association of Realtors reported the number of contracts signed to purchase a home last month dropped 2.7% vs expectations for signings to be unchanged. These contract signings represent sales expected to close in 30 to 60 days, which is a bad sign for existing home sales in the months ahead. But the NAR Chief Economist still said, \u201cThe housing market is resilient with approximately three offers for each listing. \u201cThe lack of housing inventory continues to prevent housing demand from being fully realized.\u201d<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"

      Note: I will be out of office next week so there will be no Coffee With Greta. See you all Monday, July 10 and enjoy the holiday week! DJIA Futures: +151 (+0.4%) SPX Futures: +27 (+0.6%) NASDAQ Futures: +135 (+0.9%) Good morning friends! Futures are rising after the release of encouraging new inflation data.\u00a0 Let\u2019s get right to it! PCE Inflation Continues To Cool The Fed\u2019s preferred inflation gauge continued to cool in May.\u00a0 The Bureau of Economic Analysis\u2019 personal consumption expenditures price index rose 0.1% monthly and 3.8% year over year. That was in line with expectations and down by 4.3% annually in April.\u00a0 It was the lowest headline reading since April 2021.\u00a0 The core PCE price index, which excludes food and energy prices, rose 0.3% monthly and 4.6% annually.\u00a0 That was slightly cooler than expectations for 4.6% annually.\u00a0 But the data also showed consumer spending slowed in May.\u00a0 Consumer spending rose just 0.1% last month vs 0.2% expected and down from 0.8% in April.\u00a0 Personal incomes rose 0.4%, better than 0.3% expected. Nike Drops On Earnings Miss Nike (NKE) shares are down 2.5% ahead of the open after missing fiscal Q4 profit expectations.\u00a0 Here\u2019s how the sneaker giant\u2019s results compared to analysts\u2019 estimates:\u00a0 EPS: $0.66 vs $0.67 expected Revenue: $12.83 billion vs $12.59 billion expected It was Nike\u2019s first earnings miss in three years as lower margins weighed on profits.\u00a0 Margins fell 1.4% to 43.6% which the company blamed on higher product input costs, elevated freight and logistics costs, more promotions, and unfavorable currency exchange rates. Apple Tops $3 Trillion Valuation Apple (AAPL) shares are rising 1.1% in premarket trade with the company\u2019s market cap surpassing $3 trillion.\u00a0 The threshold for that milestone is just $190.73 per share and the stock is currently trading about $1 higher than that. Apple became the first company in history to hit the $3 trillion market cap during intraday trade in January 2022.\u00a0 But it failed to close above that milestone.\u00a0 AAPL shares are up about 46% so far this year. In Case You Missed It Pending home sales fell unexpectedly in May. The National Association of Realtors reported the number of contracts signed to purchase a home last month dropped 2.7% vs expectations for signings to be unchanged. These contract signings represent sales expected to close in 30 to 60 days, which is a bad sign for existing home sales in the months ahead. But the NAR Chief Economist still said, \u201cThe housing market is resilient with approximately three offers for each listing. \u201cThe lack of housing inventory continues to prevent housing demand from being fully realized.\u201d<\/p>\n","protected":false},"author":41,"featured_media":69202,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-69127","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\/69127","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=69127"}],"version-history":[{"count":2,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/69127\/revisions"}],"predecessor-version":[{"id":69204,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/69127\/revisions\/69204"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/69202"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=69127"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=69127"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=69127"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}