{"id":71074,"date":"2023-09-15T09:03:35","date_gmt":"2023-09-15T13:03:35","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=71074"},"modified":"2023-09-15T09:03:35","modified_gmt":"2023-09-15T13:03:35","slug":"coffee-with-greta-rally-fizzles","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2023\/09\/15\/coffee-with-greta-rally-fizzles\/","title":{"rendered":"Coffee With Greta: Rally Fizzles"},"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>-8 (-0.02%)<\/span><\/p>\n

SPX Futures: <\/b>-4 (-0.1%)<\/span><\/p>\n

NASDAQ Futures: <\/b>-36 (-0.2%)<\/span><\/p>\n

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

Futures are slipping as traders attempt to hold-on to this week\u2019s rally.<\/span><\/p>\n

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

Arm Extends Gains After Debut<\/span><\/h2>\n

Arm Holdings <\/b>(ARM) shares are up 1.8% ahead of the open after debuting on the <\/span>Nasdaq <\/b>Thursday.\u00a0<\/span><\/p>\n

The stock began trading Thursday at $56.10 per share on Thursday after the company priced its IPO at $51 per share.\u00a0<\/span><\/p>\n

ARM closed 24.7% higher at $63.59.\u00a0<\/span><\/p>\n

That price puts the stock at a high premium.<\/span><\/p>\n

With a $60 billion valuation, the price-to-earning multiple would be over 110 based on the most recent fiscal year profit.\u00a0<\/span><\/p>\n

Nvidia <\/b>(NVDA) for comparison currently trades at around 108 times earnings.<\/span><\/p>\n

Workers Strike At Ford, GM, Stellantis Plants S<\/span><\/h2>\n

Ford <\/b>(F) shares are falling 1.1%, <\/span>General Motors <\/b>(GM) shares are down 0.4%, and\u00a0Stellantis\u00a0<\/strong>(STLA) shares are up 0.6%\u00a0in premarket trade as thousands of United Auto Workers Union members go on strike at three plants.\u00a0<\/span><\/p>\n

Workers are on strike at assembly plants of all three companies after the union and automakers failed to reach a new labor contract Thursday night.\u00a0<\/span><\/p>\n

At midnight eastern time the union posted on X, formerly Twitter, \u201cThe UAW Stand Up Strike begins at all three of the Big Three.\u201d<\/span><\/p>\n

The strike includes about 12,700 total workers at three plants:<\/span><\/p>\n

    \n
  • GM\u2019s midsize truck and full-size van plant in Wentzville, Missouri – 3,600 workers<\/span><\/li>\n
  • Ford\u2019s Ranger midsize pickup truck and Bronco SUV plant in Wayne, Michigan – 3,300 workers<\/span><\/li>\n
  • Stellantis\u2019 Jeep Wrangler and Gladiator plant in Toledo, Ohio – 5,800 workers<\/span><\/li>\n<\/ul>\n

    This is the first time the UAW has staged strikes at all three of the \u201cBig Three\u201d automakers at once.<\/span><\/p>\n

    Import Prices Jump<\/span><\/h2>\n

    Import prices rose more than expected in August thanks to higher oil prices.\u00a0<\/span><\/p>\n

    The Bureau of Labor Statistics import price index jumped 0.5% vs 0.3% expected.\u00a0<\/span><\/p>\n

    That was the biggest increase in 15 months as foreign-produced fuel costs surged 6.7%.\u00a0<\/span><\/p>\n

    Excluding fuel though, import prices fell 0.1%.<\/span><\/p>\n

    The total cost of imports was down 3% year over year with nonfuel import prices falling 0.8%.\u00a0<\/span><\/p>\n

    Export prices rose 1.3% in August but are still down 5.5% compared to a year ago.<\/span><\/p>\n

    Key Manufacturing Gauge Rebounds<\/span><\/h2>\n

    The New York Fed\u2019s Empire State manufacturing index jumped 21 points this month to 1.9.\u00a0<\/span><\/p>\n

    That sharply beat economists\u2019 expectations for -10 and reverses the 20.1 point drop in August.\u00a0<\/span><\/p>\n

    The new orders index jumped 25 points to 5.1 while shipments index rose 24.7 points to 12.4.<\/span><\/p>\n

    Unfilled orders rose 1.6 points to -5.2, a sign they are continuing to decline.\u00a0<\/span><\/p>\n

    The six-month expectations index jumped 6.4 points to 26.3, the highest reading in more than a year.<\/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: -8 (-0.02%) SPX Futures: -4 (-0.1%) NASDAQ Futures: -36 (-0.2%) Good morning friends! Futures are slipping as traders attempt to hold-on to this week\u2019s rally. Let\u2019s get right to it! Arm Extends Gains After Debut Arm Holdings (ARM) shares are up 1.8% ahead of the open after debuting on the Nasdaq Thursday.\u00a0 The stock began trading Thursday at $56.10 per share on Thursday after the company priced its IPO at $51 per share.\u00a0 ARM closed 24.7% higher at $63.59.\u00a0 That price puts the stock at a high premium. With a $60 billion valuation, the price-to-earning multiple would be over 110 based on the most recent fiscal year profit.\u00a0 Nvidia (NVDA) for comparison currently trades at around 108 times earnings. Workers Strike At Ford, GM, Stellantis Plants S Ford (F) shares are falling 1.1%, General Motors (GM) shares are down 0.4%, and\u00a0Stellantis\u00a0(STLA) shares are up 0.6%\u00a0in premarket trade as thousands of United Auto Workers Union members go on strike at three plants.\u00a0 Workers are on strike at assembly plants of all three companies after the union and automakers failed to reach a new labor contract Thursday night.\u00a0 At midnight eastern time the union posted on X, formerly Twitter, \u201cThe UAW Stand Up Strike begins at all three of the Big Three.\u201d The strike includes about 12,700 total workers at three plants: GM\u2019s midsize truck and full-size van plant in Wentzville, Missouri – 3,600 workers Ford\u2019s Ranger midsize pickup truck and Bronco SUV plant in Wayne, Michigan – 3,300 workers Stellantis\u2019 Jeep Wrangler and Gladiator plant in Toledo, Ohio – 5,800 workers This is the first time the UAW has staged strikes at all three of the \u201cBig Three\u201d automakers at once. Import Prices Jump Import prices rose more than expected in August thanks to higher oil prices.\u00a0 The Bureau of Labor Statistics import price index jumped 0.5% vs 0.3% expected.\u00a0 That was the biggest increase in 15 months as foreign-produced fuel costs surged 6.7%.\u00a0 Excluding fuel though, import prices fell 0.1%. The total cost of imports was down 3% year over year with nonfuel import prices falling 0.8%.\u00a0 Export prices rose 1.3% in August but are still down 5.5% compared to a year ago. Key Manufacturing Gauge Rebounds The New York Fed\u2019s Empire State manufacturing index jumped 21 points this month to 1.9.\u00a0 That sharply beat economists\u2019 expectations for -10 and reverses the 20.1 point drop in August.\u00a0 The new orders index jumped 25 points to 5.1 while shipments index rose 24.7 points to 12.4. Unfilled orders rose 1.6 points to -5.2, a sign they are continuing to decline.\u00a0 The six-month expectations index jumped 6.4 points to 26.3, the highest reading in more than a year.<\/p>\n","protected":false},"author":41,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-71074","post","type-post","status-publish","format-standard","hentry","category-coffee-with-greta"],"_links":{"self":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/71074","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=71074"}],"version-history":[{"count":2,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/71074\/revisions"}],"predecessor-version":[{"id":71078,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/71074\/revisions\/71078"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=71074"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=71074"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=71074"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}