{"id":71045,"date":"2023-09-14T09:05:05","date_gmt":"2023-09-14T13:05:05","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=71045"},"modified":"2023-09-14T09:05:05","modified_gmt":"2023-09-14T13:05:05","slug":"coffee-with-greta-busy-morning","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2023\/09\/14\/coffee-with-greta-busy-morning\/","title":{"rendered":"Coffee With Greta: Busy Morning"},"content":{"rendered":"

Register now<\/a> for next week's free trading Q&A with Derrick Oldensmith on Fed Day!<\/strong><\/p>\n

DJIA Futures: <\/b>+148 (+0.4%)<\/span><\/p>\n

SPX Futures: <\/b>+21 (+0.5%)<\/span><\/p>\n

NASDAQ Futures: <\/b>+72 (+0.5%)<\/span><\/p>\n

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

Futures are up as traders digest a slew of economic data.<\/span><\/p>\n

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

Wholesale Inflation Comes In Hot<\/span><\/h2>\n

U.S. wholesale inflation pressures were hotter than expected in August.\u00a0<\/span><\/p>\n

The Bureau of Labor Statistics\u2019 producer price index rose 0.7% monthly and 1.6% year over year.\u00a0<\/span><\/p>\n

That was higher than economists\u2019 expectations for 0.4% monthly and 1.3% annually and driven by higher gas prices.\u00a0<\/span><\/p>\n

The BLS report said over 60% of the August increase was due to gas prices, which surged 20% during the month.<\/span><\/p>\n

It was the fastest monthly increase in headline PPI since June 2022.\u00a0<\/span><\/p>\n

The core PPI rose 0.2% monthly and 2.2% annually.\u00a0<\/span><\/p>\n

That was in line with expectations.<\/span><\/p>\n

Retail Sales Jump<\/span><\/h2>\n

U.S. retail sales rose more than expected in August for the second month in a row.\u00a0<\/span><\/p>\n

The Commerce Department reported retail sales jumped 0.6% to $697.6 billion.\u00a0<\/span><\/p>\n

That was higher than expectations for just a 0.1% gain.\u00a0<\/span><\/p>\n

Like inflation, the jump was driven by higher gas prices.\u00a0<\/span><\/p>\n

Sales at gas stations jumped 5.2% in August from July.\u00a0<\/span><\/p>\n

Clothing and accessories store sales rose 0.9%, health and personal care sales were up 0.5%, and grocery store sales increase 0.4%.\u00a0<\/span><\/p>\n

Three categories saw a decrease in sales totals.\u00a0<\/span><\/p>\n

Furniture store sales were down 1%, miscellaneous store sales fell 1.3%, and sporting goods sales dropped 1.6%.<\/span><\/p>\n

Weekly Jobless Claims Rise\u00a0<\/span><\/h2>\n

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

The Labor Department reported 220,000 Americans filed initial claims for unemployment benefits.\u00a0<\/span><\/p>\n

That was up by 3,000 from the previous week but lower than 225,000 expected.\u00a0<\/span><\/p>\n

Continuing claims rose by 9,000 to 1.688 million in the week ending September 2, below estimates for 1.693 million.<\/span><\/p>\n

ARM Awaits IPO<\/span><\/h2>\n

Chipmaker Arm Holdings is set to make its debut on the <\/span>Nasdaq <\/b>later today.\u00a0<\/span><\/p>\n

The company priced its IPO at $51 per share Wednesday, valuing it at $54 billion.\u00a0<\/span><\/p>\n

It will trade under the ticker symbol ARM.\u00a0<\/span><\/p>\n

The U.K.-based company is expected to list at least 95.5 million American depository shares on the Nasdaq.\u00a0<\/span><\/p>\n

In its prospectus, Arm reported fiscal 2023 revenue of $2.68 billion and profit of $524 million.\u00a0<\/span><\/p>\n

Arm\u2019s largest customers, including <\/span>Apple <\/b>(AAPL), <\/span>Alphabet <\/b>(GOOGL), <\/span>Nvidia <\/b>(NVDA), <\/span>Advanced Micro Devices <\/b>(AMD), and <\/span>Intel <\/b>(INTC) said they would buy shares as part of the IPO.<\/span><\/p>\n

Delta Cuts Profit Forecast, Upbeat On Revenue<\/span><\/h2>\n

Delta <\/b>(DAL) shares are rising 2.4% ahead of the open after cutting its Q3 profit outlook but issuing upbeat revenue guidance.<\/span><\/p>\n

The airline now expects adjusted EPS between $1.85 and $2.05 in the current quarter, down from $2.20 to $2.50 previously\u00a0<\/span><\/p>\n

But the company\u2019s revenue outlook is rosier.\u00a0<\/span><\/p>\n

Delta expects Q3 revenue to be in the \u201cupper half\u201d of its previous guidance for growth of 11% to 14%.\u00a0<\/span><\/p>\n

The airline blamed the lower profit outlook on higher fuel costs.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Register now for next week’s free trading Q&A with Derrick Oldensmith on Fed Day! DJIA Futures: +148 (+0.4%) SPX Futures: +21 (+0.5%) NASDAQ Futures: +72 (+0.5%) Good morning friends! Futures are up as traders digest a slew of economic data. Let\u2019s get right to it! Wholesale Inflation Comes In Hot U.S. wholesale inflation pressures were hotter than expected in August.\u00a0 The Bureau of Labor Statistics\u2019 producer price index rose 0.7% monthly and 1.6% year over year.\u00a0 That was higher than economists\u2019 expectations for 0.4% monthly and 1.3% annually and driven by higher gas prices.\u00a0 The BLS report said over 60% of the August increase was due to gas prices, which surged 20% during the month. It was the fastest monthly increase in headline PPI since June 2022.\u00a0 The core PPI rose 0.2% monthly and 2.2% annually.\u00a0 That was in line with expectations. Retail Sales Jump U.S. retail sales rose more than expected in August for the second month in a row.\u00a0 The Commerce Department reported retail sales jumped 0.6% to $697.6 billion.\u00a0 That was higher than expectations for just a 0.1% gain.\u00a0 Like inflation, the jump was driven by higher gas prices.\u00a0 Sales at gas stations jumped 5.2% in August from July.\u00a0 Clothing and accessories store sales rose 0.9%, health and personal care sales were up 0.5%, and grocery store sales increase 0.4%.\u00a0 Three categories saw a decrease in sales totals.\u00a0 Furniture store sales were down 1%, miscellaneous store sales fell 1.3%, and sporting goods sales dropped 1.6%. Weekly Jobless Claims Rise\u00a0 Weekly jobless claims rose less than expected last week.\u00a0 The Labor Department reported 220,000 Americans filed initial claims for unemployment benefits.\u00a0 That was up by 3,000 from the previous week but lower than 225,000 expected.\u00a0 Continuing claims rose by 9,000 to 1.688 million in the week ending September 2, below estimates for 1.693 million. ARM Awaits IPO Chipmaker Arm Holdings is set to make its debut on the Nasdaq later today.\u00a0 The company priced its IPO at $51 per share Wednesday, valuing it at $54 billion.\u00a0 It will trade under the ticker symbol ARM.\u00a0 The U.K.-based company is expected to list at least 95.5 million American depository shares on the Nasdaq.\u00a0 In its prospectus, Arm reported fiscal 2023 revenue of $2.68 billion and profit of $524 million.\u00a0 Arm\u2019s largest customers, including Apple (AAPL), Alphabet (GOOGL), Nvidia (NVDA), Advanced Micro Devices (AMD), and Intel (INTC) said they would buy shares as part of the IPO. Delta Cuts Profit Forecast, Upbeat On Revenue Delta (DAL) shares are rising 2.4% ahead of the open after cutting its Q3 profit outlook but issuing upbeat revenue guidance. The airline now expects adjusted EPS between $1.85 and $2.05 in the current quarter, down from $2.20 to $2.50 previously\u00a0 But the company\u2019s revenue outlook is rosier.\u00a0 Delta expects Q3 revenue to be in the \u201cupper half\u201d of its previous guidance for growth of 11% to 14%.\u00a0 The airline blamed the lower profit outlook on higher fuel costs.<\/p>\n","protected":false},"author":41,"featured_media":71048,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-71045","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\/71045","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=71045"}],"version-history":[{"count":2,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/71045\/revisions"}],"predecessor-version":[{"id":71051,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/71045\/revisions\/71051"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/71048"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=71045"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=71045"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=71045"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}