{"id":70848,"date":"2023-09-01T08:59:59","date_gmt":"2023-09-01T12:59:59","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=70848"},"modified":"2023-09-01T08:59:59","modified_gmt":"2023-09-01T12:59:59","slug":"coffee-with-greta-jobs-report-boost","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2023\/09\/01\/coffee-with-greta-jobs-report-boost\/","title":{"rendered":"Coffee With Greta: Jobs Report Boost"},"content":{"rendered":"

Register now<\/a> for next week's free trading Q&A on LinkedIn with me and Sami Abusaad!<\/strong><\/p>\n

DJIA Futures: <\/b>+154 (+0.4%)<\/span><\/p>\n

SPX Futures: <\/b>+25 (+0.5%)<\/span><\/p>\n

NASDAQ Futures: <\/b>+88 (+0.6%)<\/span><\/p>\n

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

Futures are rising as traders hope higher unemployment will keep the Fed from hiking rates further.<\/span><\/p>\n

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

Unemployment Rate Rises<\/span><\/h2>\n

U.S. job growth was stronger than expected in August while the unemployment rate rose unexpectedly.\u00a0<\/span><\/p>\n

The Labor Department reported the U.S. economy added 187,000 jobs last month vs 170,000 expected.\u00a0<\/span><\/p>\n

The unemployment rate rose to 3.8% from 3.6%, the highest since February 2022.\u00a0<\/span><\/p>\n

Economists were expecting the unemployment rate to dip to 3.5% in August.<\/span><\/p>\n

Traders are hoping that will be a good sign for the Fed that the labor market is cooling.\u00a0<\/span><\/p>\n

The labor force participation rate increased to 62.8%, the highest since February 2020.\u00a0<\/span><\/p>\n

Average hourly earnings rose 0.2% monthly and 4.3% year over year, below estimates for 0.3% monthly and 4.4% annually.<\/span><\/p>\n

The jobs report also included downward revisions to previous months.<\/span><\/p>\n

June was revised lower by 80,000 to +105,000 and July was revised down by 30,000 to +157,000.<\/span><\/p>\n

Lululemon Beats Expectations, Boosts Outlook<\/span><\/h2>\n

Lululemon <\/b>(LULU) shares are up 2.4% ahead of the open after beating Q2 expectations and raising its full-year guidance.\u00a0<\/span><\/p>\n

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

    \n
  • EPS: $2.68 vs $2.54 expected<\/span><\/li>\n
  • Revenue: $2.21 billion vs $2.17 billion expected<\/span><\/li>\n<\/ul>\n

    Sales jumped 18% year over year with comparable sales rising 11% vs 12.1% expected.\u00a0<\/span><\/p>\n

    Lululemon\u2019s gross margin during the quarter was 58.8% vs 58.5% expected.\u00a0<\/span><\/p>\n

    The company forecast Q3 EPS between $2.23 and $2.28 on revenue of $2.17 billion to $2.19 billion, in line with estimates.<\/span><\/p>\n

    Lululemon expects full-year profits to be between $12.02 and $12.17 per share vs previous guidance of $11.74 to $11.94.\u00a0<\/span><\/p>\n

    The company also sees full-year sales between $9.51 billion and $9.57 billion, up from $9.44 billion to $9.51 billion previously.\u00a0<\/span><\/p>\n

    Dell Rallies On Earnings Beat<\/span><\/h2>\n

    Dell <\/b>(DELL) shares are rallying 12.4% in premarket trade after sharply beating Q2 expectations on the top and bottom line.\u00a0<\/span><\/p>\n

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

      \n
    • Adjusted EPS: $1.74 vs $1.10 expected<\/span><\/li>\n
    • Revenue: $22.9 billion vs $20.9 billion expected<\/span><\/li>\n<\/ul>\n

      Revenue was down 13% from a year ago but up 10% from Q1 and stronger than the company\u2019s own forecast.\u00a0<\/span><\/p>\n

      Dell reported $3.2 billion in cash flow from operations vs analysts\u2019 estimates for a $465 million loss.\u00a0<\/span><\/p>\n

      The company\u2019s PC business, the Client Solutions Group, reported $12.9 billion in revenue vs $12.1 billion expected.\u00a0<\/span><\/p>\n

      That was up 8% from the first quarter.\u00a0<\/span><\/p>\n

      The company\u2019s vice chairman and COO said, \u201cWith a better demand environment and strong execution, we delivered extraordinary Q2 results. We continue to focus on the most profitable segments of the market where we have a leading position.\u201d<\/span><\/p>\n

      Dell forecast fiscal Q3 adjusted EPS of $1.45 on $22.5 billion to $23.5 billion in revenue.\u00a0<\/span><\/p>\n

      That topped analysts\u2019 estimates for $1.37 EPS on $21.7 billion in revenue.<\/span><\/p>\n

      The company sees full-year profits of $6.30 per share on $89.5 billion to $91.5 billion in revenue.\u00a0<\/span><\/p>\n

      Analysts were forecasting full-year earnings of $5.56 per share on $86.9 billion in revenue.<\/span><\/p>\n

      In Case You Missed It<\/span><\/h2>\n
        \n
      • Shopify <\/b>(SHOP) shares rallied 10.8% on Thursday after the company struck a deal with <\/span>Amazon <\/b>(AMZN). Shopify will offer Amazon\u2019s \u201cBuy with Prime\u201d program to merchants on the site. This will allow merchants to add the Prime logo and offer Amazon\u2019s quick delivery service options on their Shopify storefronts. Members of Amazon Prime will be able to checkout on Shopify sites using their Amazon accounts. AMZN shares close 2.2% higher on the news.<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"

        Register now for next week’s free trading Q&A on LinkedIn with me and Sami Abusaad! DJIA Futures: +154 (+0.4%) SPX Futures: +25 (+0.5%) NASDAQ Futures: +88 (+0.6%) Good morning friends! Futures are rising as traders hope higher unemployment will keep the Fed from hiking rates further. Let\u2019s get right to it! Unemployment Rate Rises U.S. job growth was stronger than expected in August while the unemployment rate rose unexpectedly.\u00a0 The Labor Department reported the U.S. economy added 187,000 jobs last month vs 170,000 expected.\u00a0 The unemployment rate rose to 3.8% from 3.6%, the highest since February 2022.\u00a0 Economists were expecting the unemployment rate to dip to 3.5% in August. Traders are hoping that will be a good sign for the Fed that the labor market is cooling.\u00a0 The labor force participation rate increased to 62.8%, the highest since February 2020.\u00a0 Average hourly earnings rose 0.2% monthly and 4.3% year over year, below estimates for 0.3% monthly and 4.4% annually. The jobs report also included downward revisions to previous months. June was revised lower by 80,000 to +105,000 and July was revised down by 30,000 to +157,000. Lululemon Beats Expectations, Boosts Outlook Lululemon (LULU) shares are up 2.4% ahead of the open after beating Q2 expectations and raising its full-year guidance.\u00a0 Here\u2019s how the athletic apparel retailer\u2019s results compared to analysts\u2019 estimates:\u00a0 EPS: $2.68 vs $2.54 expected Revenue: $2.21 billion vs $2.17 billion expected Sales jumped 18% year over year with comparable sales rising 11% vs 12.1% expected.\u00a0 Lululemon\u2019s gross margin during the quarter was 58.8% vs 58.5% expected.\u00a0 The company forecast Q3 EPS between $2.23 and $2.28 on revenue of $2.17 billion to $2.19 billion, in line with estimates. Lululemon expects full-year profits to be between $12.02 and $12.17 per share vs previous guidance of $11.74 to $11.94.\u00a0 The company also sees full-year sales between $9.51 billion and $9.57 billion, up from $9.44 billion to $9.51 billion previously.\u00a0 Dell Rallies On Earnings Beat Dell (DELL) shares are rallying 12.4% in premarket trade after sharply beating Q2 expectations on the top and bottom line.\u00a0 Here\u2019s how the PC maker\u2019s results compared to analysts\u2019 estimates:\u00a0 Adjusted EPS: $1.74 vs $1.10 expected Revenue: $22.9 billion vs $20.9 billion expected Revenue was down 13% from a year ago but up 10% from Q1 and stronger than the company\u2019s own forecast.\u00a0 Dell reported $3.2 billion in cash flow from operations vs analysts\u2019 estimates for a $465 million loss.\u00a0 The company\u2019s PC business, the Client Solutions Group, reported $12.9 billion in revenue vs $12.1 billion expected.\u00a0 That was up 8% from the first quarter.\u00a0 The company\u2019s vice chairman and COO said, \u201cWith a better demand environment and strong execution, we delivered extraordinary Q2 results. We continue to focus on the most profitable segments of the market where we have a leading position.\u201d Dell forecast fiscal Q3 adjusted EPS of $1.45 on $22.5 billion to $23.5 billion in revenue.\u00a0 That topped analysts\u2019 estimates for $1.37 EPS on $21.7 billion in revenue. The company sees full-year profits of $6.30 per share on $89.5 billion to $91.5 billion in revenue.\u00a0 Analysts were forecasting full-year earnings of $5.56 per share on $86.9 billion in revenue. In Case You Missed It Shopify (SHOP) shares rallied 10.8% on Thursday after the company struck a deal with Amazon (AMZN). Shopify will offer Amazon\u2019s \u201cBuy with Prime\u201d program to merchants on the site. This will allow merchants to add the Prime logo and offer Amazon\u2019s quick delivery service options on their Shopify storefronts. Members of Amazon Prime will be able to checkout on Shopify sites using their Amazon accounts. AMZN shares close 2.2% higher on the news.<\/p>\n","protected":false},"author":41,"featured_media":70856,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-70848","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\/70848","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=70848"}],"version-history":[{"count":3,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/70848\/revisions"}],"predecessor-version":[{"id":70857,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/70848\/revisions\/70857"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/70856"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=70848"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=70848"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=70848"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}