{"id":69852,"date":"2023-08-10T08:55:23","date_gmt":"2023-08-10T12:55:23","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=69852"},"modified":"2023-08-10T08:55:23","modified_gmt":"2023-08-10T12:55:23","slug":"coffee-with-greta-soft-inflation","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2023\/08\/10\/coffee-with-greta-soft-inflation\/","title":{"rendered":"Coffee With Greta: Soft Inflation"},"content":{"rendered":"

Register now<\/a> for next week's free Q&A event on LinkedIn with Scott Redler!<\/b><\/p>\n

DJIA Futures: <\/b>+93 (+0.3%)<\/span><\/p>\n

SPX Futures: <\/b>+13 (+0.3%)<\/span><\/p>\n

NASDAQ Futures: <\/b>+94 (+0.6%)<\/span><\/p>\n

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

Futures are higher after a soft July inflation report.<\/span><\/p>\n

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

Cooling CPI<\/span><\/h2>\n

Inflation pressures came in cooler than expected in July.\u00a0<\/span><\/p>\n

The Bureau of Labor Statistics\u2019 consumer price index rose 0.2% monthly and 3.2% year over year.\u00a0<\/span><\/p>\n

That was better than expectations for a 3.3% annual gain but a tick up from 3% in June.\u00a0<\/span><\/p>\n

Food and shelter prices contributed the most to that gain.\u00a0<\/span><\/p>\n

Grocery prices rose 3.6% annually, restaurant prices jumped 7.1%, and shelter prices were up 7.7%.\u00a0<\/span><\/p>\n

Gas prices were down 19.9% from a year ago with oil prices down 26.5%.<\/span><\/p>\n

The core CPI rose 0.2% monthly and 4.7% annually.<\/span><\/p>\n

That was better than expectations for 4.8% annually and marked the slowest annual increase since October 2021.<\/span><\/p>\n

Weekly Jobless Claims Rise<\/span><\/h2>\n

Weekly jobless claims jumped more than expected last week.\u00a0<\/span><\/p>\n

The Labor Department reported 248,000 Americans filed initial claims for unemployment benefits.\u00a0<\/span><\/p>\n

That was up by 21,000 from the previous week and higher than 230,000 expected.\u00a0<\/span><\/p>\n

That was the highest level since the week ending July 1.\u00a0<\/span><\/p>\n

Continuing claims fell by 8,000 to 1.64 million in the week ending July 29.<\/span><\/p>\n

Disney Profits Beat<\/span><\/h2>\n

Walt Disney <\/b>(DIS) shares are up 1.8% ahead of the open after reporting mixed fiscal Q3 results.\u00a0<\/span><\/p>\n

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

    \n
  • Adjusted EPS: $1.03 vs $0.95 expected<\/span><\/li>\n
  • Revenue: $22.33 billion vs $22.5 billion expected<\/span><\/li>\n
  • Disney+ subscriptions: 146.1 million vs 151.1 million expected<\/span><\/li>\n<\/ul>\n

    Revenue was up 4% year over year but Disney+ subscribers dropped 7.4% from the previous quarter.\u00a0<\/span><\/p>\n

    Due to those struggles in the streaming business, Disney announced it will raise the price on its ad-free Disney+ tier in October and crackdown on password sharing.\u00a0<\/span><\/p>\n

    The parks, experiences, and products division was a bright spot for the company as revenue jumped 13% year over year to $8.3 billion.<\/span><\/p>\n

    CEO Bob Iger said, \u201cMoving forward, I believe three businesses will drive the greatest growth and value creation over the next five years. They are our film studios, our parks business and streaming, all of which are inextricably linked to our brands and franchises.\u201d<\/span><\/p>\n

    Alibaba Beats Expectations<\/span><\/h2>\n

    Alibaba <\/b>(BABA) shares are up 3.6% in premarket trade after beating quarterly expectations on the top and bottom line.\u00a0<\/span><\/p>\n

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

      \n
    • Net income: 34.33 billion yuan vs 28.66 billion yuan expected<\/span><\/li>\n
    • Revenue: 234.16 billion yuan vs 224.92 billion yuan expected<\/span><\/li>\n<\/ul>\n

      Revenue in Alibaba\u2019s main business jumped 12% year over year.<\/span><\/p>\n

      International commerce retail revenue surged 60% from a year ago as Alibaba makes efforts to expand overseas.\u00a0<\/span><\/p>\n

      The cloud business \u2013 which Alibaba has previously said it plans to publicly list \u2013 saw revenue growth of 4%.<\/span><\/p>\n

      The CEO said, \u201cAlibaba delivered a solid quarter as we continue to execute our Reorganization, which is beginning to unleash new energy across our businesses.\u201d<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

      Register now for next week’s free Q&A event on LinkedIn with Scott Redler! DJIA Futures: +93 (+0.3%) SPX Futures: +13 (+0.3%) NASDAQ Futures: +94 (+0.6%) Good morning friends! Futures are higher after a soft July inflation report. Let\u2019s get right to it! Cooling CPI Inflation pressures came in cooler than expected in July.\u00a0 The Bureau of Labor Statistics\u2019 consumer price index rose 0.2% monthly and 3.2% year over year.\u00a0 That was better than expectations for a 3.3% annual gain but a tick up from 3% in June.\u00a0 Food and shelter prices contributed the most to that gain.\u00a0 Grocery prices rose 3.6% annually, restaurant prices jumped 7.1%, and shelter prices were up 7.7%.\u00a0 Gas prices were down 19.9% from a year ago with oil prices down 26.5%. The core CPI rose 0.2% monthly and 4.7% annually. That was better than expectations for 4.8% annually and marked the slowest annual increase since October 2021. Weekly Jobless Claims Rise Weekly jobless claims jumped more than expected last week.\u00a0 The Labor Department reported 248,000 Americans filed initial claims for unemployment benefits.\u00a0 That was up by 21,000 from the previous week and higher than 230,000 expected.\u00a0 That was the highest level since the week ending July 1.\u00a0 Continuing claims fell by 8,000 to 1.64 million in the week ending July 29. Disney Profits Beat Walt Disney (DIS) shares are up 1.8% ahead of the open after reporting mixed fiscal Q3 results.\u00a0 Here\u2019s how the entertainment giant\u2019s results compared to analysts\u2019 estimates:\u00a0 Adjusted EPS: $1.03 vs $0.95 expected Revenue: $22.33 billion vs $22.5 billion expected Disney+ subscriptions: 146.1 million vs 151.1 million expected Revenue was up 4% year over year but Disney+ subscribers dropped 7.4% from the previous quarter.\u00a0 Due to those struggles in the streaming business, Disney announced it will raise the price on its ad-free Disney+ tier in October and crackdown on password sharing.\u00a0 The parks, experiences, and products division was a bright spot for the company as revenue jumped 13% year over year to $8.3 billion. CEO Bob Iger said, \u201cMoving forward, I believe three businesses will drive the greatest growth and value creation over the next five years. They are our film studios, our parks business and streaming, all of which are inextricably linked to our brands and franchises.\u201d Alibaba Beats Expectations Alibaba (BABA) shares are up 3.6% in premarket trade after beating quarterly expectations on the top and bottom line.\u00a0 Here\u2019s how the Chinese e-commerce giant\u2019s results compared to analysts\u2019 estimates:\u00a0 Net income: 34.33 billion yuan vs 28.66 billion yuan expected Revenue: 234.16 billion yuan vs 224.92 billion yuan expected Revenue in Alibaba\u2019s main business jumped 12% year over year. International commerce retail revenue surged 60% from a year ago as Alibaba makes efforts to expand overseas.\u00a0 The cloud business \u2013 which Alibaba has previously said it plans to publicly list \u2013 saw revenue growth of 4%. The CEO said, \u201cAlibaba delivered a solid quarter as we continue to execute our Reorganization, which is beginning to unleash new energy across our businesses.\u201d<\/p>\n","protected":false},"author":41,"featured_media":69854,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-69852","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\/69852","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=69852"}],"version-history":[{"count":2,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/69852\/revisions"}],"predecessor-version":[{"id":69857,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/69852\/revisions\/69857"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/69854"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=69852"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=69852"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=69852"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}