{"id":71475,"date":"2023-10-09T09:08:34","date_gmt":"2023-10-09T13:08:34","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=71475"},"modified":"2023-10-09T09:09:49","modified_gmt":"2023-10-09T13:09:49","slug":"coffee-with-greta-oil-prices-surge-stocks-drop","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2023\/10\/09\/coffee-with-greta-oil-prices-surge-stocks-drop\/","title":{"rendered":"Coffee With Greta: Oil Prices Surge, Stocks Drop"},"content":{"rendered":"

Register now<\/a> for this week's free trading Q&A with James Young from the Strategic Day Trader VTF!<\/b><\/p>\n

 <\/p>\n

DJIA Futures: <\/b>-199 (-0.6%)<\/span>\u00a0<\/b><\/p>\n

SPX Futures: <\/b>-29 (-0.7%)<\/span><\/p>\n

NASDAQ Futures: <\/b>-119 (-0.8%)<\/span><\/p>\n

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

Futures are falling as a war breaks out in the Middle East following Hamas\u2019 brutal attacks against Israel over the weekend.<\/span><\/p>\n

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

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

Oil prices are surging this morning in response to the war between Israel and Hamas.<\/span><\/p>\n

West Texas Intermediate crude futures are up 4.1% at over $86 bbl while Brent crude futures are up 3.9% at just under $88 bbl.<\/span><\/p>\n

But analysts believe this surge in prices will be a temporary reaction unless there is a sustained reduction in oil supply or transport.<\/span><\/p>\n

Neither country is a major oil producer but the conflict is taking place near a key oil producing and export region.<\/span><\/p>\n

Energy stocks are popping alongside oil prices.\u00a0<\/span><\/p>\n

The <\/span>Energy Select Sector SPDR ETF <\/b>(XLE) is up 2.7% ahead of the open, with <\/span>Exxon Mobil <\/b>(XOM) shares rising 2.6%, <\/span>Chevron <\/b>(CVX) shares up 2.9%, and <\/span>Occidental Petroleum <\/b>(OXY) shares up 3.2%.<\/span><\/p>\n

Activist Investor Hikes Disney Stake<\/span><\/h2>\n

Walt Disney <\/b>(DIS) shares are up 1.4% in premarket trade following a report over the weekend that activist investor Nelson Peltz\u2019s Trian Fund Management increased its stake in the company.\u00a0<\/span><\/p>\n

The Wall Street Journal reported Trian\u2019s Disney stake is now worth over $2.5 billion.<\/span><\/p>\n

The fund now holds more than 30 million shares vs 6.4 million at the end of June.\u00a0<\/span><\/p>\n

The report said Trian is planning to request multiple seats on the Disney board, including one for Peltz.\u00a0<\/span><\/p>\n

Disney previously denied a request from Peltz to join the board, arguing he didn\u2019t understand the media industry.\u00a0<\/span><\/p>\n

If Disney were to deny any upcoming requests, Trian could nominate directors that would be voted on at the annual meeting next spring.<\/span><\/p>\n

Tesla Slips On Declining China Sales<\/span><\/h2>\n

Tesla <\/b>(TSLA) shares are slipping 1.8% ahead of the open following a report that its China-made EV sales dropped in September.\u00a0<\/span><\/p>\n

The China Passenger Car Association reported Sunday that Tesla sold 74,073 China-made EVs last month.\u00a0<\/span><\/p>\n

That was a 10.9% decrease year over year.\u00a0<\/span><\/p>\n

Sales of Model 3 and Model Y cars made in China dropped 12% from August.\u00a0<\/span><\/p>\n

Meanwhile, Tesla\u2019s Chinese rival BYD saw its sales jumped 42.8% year over year last month.<\/span><\/p>\n

Inflation Week<\/span><\/h2>\n

This will be an important and busy week of economic data for traders.\u00a0<\/span><\/p>\n

Things start off slow with a couple of Fed speeches today, then the NFIB small business optimism index and wholesale inventories Tuesday morning.\u00a0<\/span><\/p>\n

Wednesday morning the Bureau of Labor Statistics releases the September producer price index, followed by the Fed\u2019s September meeting minutes in the afternoon.\u00a0<\/span><\/p>\n

On Thursday, traders will get weekly jobless claims and the September CPI in the morning.\u00a0<\/span><\/p>\n

And on Friday, September import prices will be reported in the morning followed by the University of Michigan\u2019s preliminary consumer sentiment index.<\/span><\/p>\n

Earnings season also kicks off with the big banks on Friday.<\/span><\/p>\n

Bond Market Closed<\/span><\/h2>\n

A reminder that the bond market is closed today in observance of Columbus Day.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Register now for this week’s free trading Q&A with James Young from the Strategic Day Trader VTF!   DJIA Futures: -199 (-0.6%)\u00a0 SPX Futures: -29 (-0.7%) NASDAQ Futures: -119 (-0.8%) Good morning friends! Futures are falling as a war breaks out in the Middle East following Hamas\u2019 brutal attacks against Israel over the weekend. Let\u2019s get right to it! Oil Prices Jump Oil prices are surging this morning in response to the war between Israel and Hamas. West Texas Intermediate crude futures are up 4.1% at over $86 bbl while Brent crude futures are up 3.9% at just under $88 bbl. But analysts believe this surge in prices will be a temporary reaction unless there is a sustained reduction in oil supply or transport. Neither country is a major oil producer but the conflict is taking place near a key oil producing and export region. Energy stocks are popping alongside oil prices.\u00a0 The Energy Select Sector SPDR ETF (XLE) is up 2.7% ahead of the open, with Exxon Mobil (XOM) shares rising 2.6%, Chevron (CVX) shares up 2.9%, and Occidental Petroleum (OXY) shares up 3.2%. Activist Investor Hikes Disney Stake Walt Disney (DIS) shares are up 1.4% in premarket trade following a report over the weekend that activist investor Nelson Peltz\u2019s Trian Fund Management increased its stake in the company.\u00a0 The Wall Street Journal reported Trian\u2019s Disney stake is now worth over $2.5 billion. The fund now holds more than 30 million shares vs 6.4 million at the end of June.\u00a0 The report said Trian is planning to request multiple seats on the Disney board, including one for Peltz.\u00a0 Disney previously denied a request from Peltz to join the board, arguing he didn\u2019t understand the media industry.\u00a0 If Disney were to deny any upcoming requests, Trian could nominate directors that would be voted on at the annual meeting next spring. Tesla Slips On Declining China Sales Tesla (TSLA) shares are slipping 1.8% ahead of the open following a report that its China-made EV sales dropped in September.\u00a0 The China Passenger Car Association reported Sunday that Tesla sold 74,073 China-made EVs last month.\u00a0 That was a 10.9% decrease year over year.\u00a0 Sales of Model 3 and Model Y cars made in China dropped 12% from August.\u00a0 Meanwhile, Tesla\u2019s Chinese rival BYD saw its sales jumped 42.8% year over year last month. Inflation Week This will be an important and busy week of economic data for traders.\u00a0 Things start off slow with a couple of Fed speeches today, then the NFIB small business optimism index and wholesale inventories Tuesday morning.\u00a0 Wednesday morning the Bureau of Labor Statistics releases the September producer price index, followed by the Fed\u2019s September meeting minutes in the afternoon.\u00a0 On Thursday, traders will get weekly jobless claims and the September CPI in the morning.\u00a0 And on Friday, September import prices will be reported in the morning followed by the University of Michigan\u2019s preliminary consumer sentiment index. Earnings season also kicks off with the big banks on Friday. Bond Market Closed A reminder that the bond market is closed today in observance of Columbus Day.<\/p>\n","protected":false},"author":41,"featured_media":71478,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-71475","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\/71475","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=71475"}],"version-history":[{"count":2,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/71475\/revisions"}],"predecessor-version":[{"id":71482,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/71475\/revisions\/71482"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/71478"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=71475"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=71475"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=71475"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}