{"id":69979,"date":"2023-08-14T09:02:36","date_gmt":"2023-08-14T13:02:36","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=69979"},"modified":"2023-08-14T09:02:36","modified_gmt":"2023-08-14T13:02:36","slug":"coffee-with-greta-spotlight-on-retailers","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2023\/08\/14\/coffee-with-greta-spotlight-on-retailers\/","title":{"rendered":"Coffee With Greta: Spotlight On Retailers"},"content":{"rendered":"

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

DJIA Futures: <\/b>-48 (-0.1%)<\/span><\/p>\n

SPX Futures: <\/b>-10 (-0.2%)<\/span><\/p>\n

NASDAQ Futures: <\/b>-29 (-0.2%)<\/span><\/p>\n

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

Futures are slipping as traders gear up for a big week focused on retailers and consumers.<\/span><\/p>\n

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

Retailers In Focus<\/span><\/h2>\n

This week\u2019s economic data and earnings will be all about U.S. retailers and consumers.<\/span><\/p>\n

The Commerce Department reports retail sales for July Tuesday morning.\u00a0<\/span><\/p>\n

Economists\u2019 expectations are for both headline and core retail sales to rise 0.4% monthly.\u00a0<\/span><\/p>\n

Major retail earnings also start on Tuesday morning, here are the highlights:\u00a0<\/span><\/p>\n

    \n
  • Tuesday AM: <\/span>Home Depot <\/b>(HD)<\/span><\/li>\n
  • Wednesday AM: <\/span>Target <\/b>(TGT). <\/span>TJX Companies <\/b>(TJX)<\/span><\/li>\n
  • Thursday AM: <\/span>Walmart <\/b>(WMT)<\/span><\/li>\n
  • Thursday PM: <\/span>Ross Stores <\/b>(ROST)<\/span><\/li>\n<\/ul>\n

    This data will give traders more insight into the strength of the U.S. consumer amid the Fed\u2019s fight against inflation.<\/span><\/p>\n

    U.S. Steel Surges<\/span><\/h2>\n

    United States Steel Corp. <\/b>(X) shares are surging 27.7% ahead of the open after rejecting a $7.3 billion buyout proposal from rival <\/span>Cleveland-Cliffs Inc <\/b>(CLF).\u00a0<\/span><\/p>\n

    U.S. Steel said it is reviewing \u201cstrategic alternatives\u201d after it received several unsolicited offers.\u00a0<\/span><\/p>\n

    It rejected the Cleveland-Cliffs offer because they were pushing it to accept the deal without being allowed to conduct proper due diligence.<\/span><\/p>\n

    U.S. Steel\u2019s CEO said in a letter to Cleveland-Cliff\u2019s CEO, \u201cAt this juncture, we cannot determine whether your unsolicited proposal properly reflects the full and fair value of the Company. For all of the above reasons, the Board has no choice but to reject your unreasonable proposal.\u201d<\/span><\/p>\n

    Tesla Cuts Prices In China\u00a0<\/span><\/h2>\n

    Tesla <\/b>(TSLA) shares are slipping 3% in premarket trade after cutting prices again in China.\u00a0<\/span><\/p>\n

    The electric automaker lowered prices for the long-range and performance versions of the Model Y in China by about $2,000 over the weekend.\u00a0<\/span><\/p>\n

    A long-range Model Y now starts at $41,400 in China vs $49,400 at the start of 2023.\u00a0<\/span><\/p>\n

    The performance version now starts at $48,300 vs $55,000 at the beginning of the year.\u00a0<\/span><\/p>\n

    Tesla also rolled out a new $1,100 incentive for certain Model 3 sedans in the country.\u00a0<\/span><\/p>\n

    Nikola Drops On Recall Announcement<\/span><\/h2>\n

    Nikola <\/b>(NKLA) shares are tumbling 17.5% ahead of the open after announcing a recall related to battery issues.\u00a0<\/span><\/p>\n

    The electric truck maker issued a voluntary recall for 209 of its Class 8 Tre electric trucks after an investigation into the battery packs.\u00a0<\/span><\/p>\n

    Nikola said the recall is a \u201cprecautionary measure\u201d and it will pause new sales of its battery-electric vehicles \u201ctemporarily\u201d.<\/span><\/p>\n

    A third party investigator, Exponent, determined a coolant leak inside of a battery pack was the likely cause of a truck fire in June 2023.\u00a0<\/span><\/p>\n

    The company said, \u201cInternal investigations from Nikola\u2019s safety and engineering teams indicate a single supplier component within the battery pack as the likely source of the coolant leak and efforts are underway to provide a field remedy in the coming weeks.\u201d<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

    Register now for Wednesday’s free Q&A event on LinkedIn with Scott Redler! DJIA Futures: -48 (-0.1%) SPX Futures: -10 (-0.2%) NASDAQ Futures: -29 (-0.2%) Good morning friends! Futures are slipping as traders gear up for a big week focused on retailers and consumers. Let\u2019s get right to it! Retailers In Focus This week\u2019s economic data and earnings will be all about U.S. retailers and consumers. The Commerce Department reports retail sales for July Tuesday morning.\u00a0 Economists\u2019 expectations are for both headline and core retail sales to rise 0.4% monthly.\u00a0 Major retail earnings also start on Tuesday morning, here are the highlights:\u00a0 Tuesday AM: Home Depot (HD) Wednesday AM: Target (TGT). TJX Companies (TJX) Thursday AM: Walmart (WMT) Thursday PM: Ross Stores (ROST) This data will give traders more insight into the strength of the U.S. consumer amid the Fed\u2019s fight against inflation. U.S. Steel Surges United States Steel Corp. (X) shares are surging 27.7% ahead of the open after rejecting a $7.3 billion buyout proposal from rival Cleveland-Cliffs Inc (CLF).\u00a0 U.S. Steel said it is reviewing \u201cstrategic alternatives\u201d after it received several unsolicited offers.\u00a0 It rejected the Cleveland-Cliffs offer because they were pushing it to accept the deal without being allowed to conduct proper due diligence. U.S. Steel\u2019s CEO said in a letter to Cleveland-Cliff\u2019s CEO, \u201cAt this juncture, we cannot determine whether your unsolicited proposal properly reflects the full and fair value of the Company. For all of the above reasons, the Board has no choice but to reject your unreasonable proposal.\u201d Tesla Cuts Prices In China\u00a0 Tesla (TSLA) shares are slipping 3% in premarket trade after cutting prices again in China.\u00a0 The electric automaker lowered prices for the long-range and performance versions of the Model Y in China by about $2,000 over the weekend.\u00a0 A long-range Model Y now starts at $41,400 in China vs $49,400 at the start of 2023.\u00a0 The performance version now starts at $48,300 vs $55,000 at the beginning of the year.\u00a0 Tesla also rolled out a new $1,100 incentive for certain Model 3 sedans in the country.\u00a0 Nikola Drops On Recall Announcement Nikola (NKLA) shares are tumbling 17.5% ahead of the open after announcing a recall related to battery issues.\u00a0 The electric truck maker issued a voluntary recall for 209 of its Class 8 Tre electric trucks after an investigation into the battery packs.\u00a0 Nikola said the recall is a \u201cprecautionary measure\u201d and it will pause new sales of its battery-electric vehicles \u201ctemporarily\u201d. A third party investigator, Exponent, determined a coolant leak inside of a battery pack was the likely cause of a truck fire in June 2023.\u00a0 The company said, \u201cInternal investigations from Nikola\u2019s safety and engineering teams indicate a single supplier component within the battery pack as the likely source of the coolant leak and efforts are underway to provide a field remedy in the coming weeks.\u201d<\/p>\n","protected":false},"author":41,"featured_media":69982,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-69979","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\/69979","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=69979"}],"version-history":[{"count":1,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/69979\/revisions"}],"predecessor-version":[{"id":69983,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/69979\/revisions\/69983"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/69982"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=69979"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=69979"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=69979"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}