{"id":71646,"date":"2023-10-17T08:57:13","date_gmt":"2023-10-17T12:57:13","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=71646"},"modified":"2023-10-17T08:57:13","modified_gmt":"2023-10-17T12:57:13","slug":"coffee-with-greta-interest-rate-woes","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2023\/10\/17\/coffee-with-greta-interest-rate-woes\/","title":{"rendered":"Coffee With Greta: Interest Rate Woes"},"content":{"rendered":"

Register now<\/a> for tomorrow's free trading Q&A on LinkedIn with David Prince!<\/b><\/p>\n

DJIA Futures: <\/b>-84 (-0.3%)<\/span><\/p>\n

SPX Futures: <\/b>-17 (-0.4%)<\/span><\/p>\n

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

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

Futures are slipping as traders grow concerned over higher rates.<\/span><\/p>\n

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

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

U.S. retail sales were much stronger than expected in September.\u00a0<\/span><\/p>\n

The Commerce Department reported retail sales rose 0.7% last month to $704.9 billion.\u00a0<\/span><\/p>\n

That was more than double expectations for a 0.3% gain.<\/span><\/p>\n

Core retail sales also jumped 0.6%, triple expectations for a 0.2% increase.\u00a0<\/span><\/p>\n

August retail sales were also revised higher to show a 0.8% gain from 0.6% initially.\u00a0\u00a0<\/span><\/p>\n

Miscellaneous retailers saw the largest increase in spending last month, up 3% from August.\u00a0<\/span><\/p>\n

Online spending jumped 1.1% while car dealers saw a 1.1% increase in sales.\u00a0<\/span><\/p>\n

There were only categories that logged a decline in sales last month.\u00a0<\/span><\/p>\n

Electronics and appliance stores sales fell 0.8%, sales at clothing stores fell 0.8%, and sales at building material stores fell 0.2%.<\/span><\/p>\n

Bank of America Tops Q3 Expectations<\/span><\/h2>\n

Bank of America <\/b>(BAC) shares are up 1% ahead of the open after beating Q3 expectations on the top and bottom line.<\/span><\/p>\n

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

    \n
  • EPS: $0.90 vs $0.82 expected<\/span><\/li>\n
  • Revenue: $25.32 billion vs $25.14 billion expected<\/span><\/li>\n<\/ul>\n

    Profit jumped 10% year over year while revenue climbed 2.9%>\u00a0<\/span><\/p>\n

    Bank of America\u2019s interest income rose 4% from a year ago, topping estimates by roughly $300 million.\u00a0<\/span><\/p>\n

    Consumer banking deposits fell 8% during the quarter but the segment posted a 6% increase in revenue.\u00a0<\/span><\/p>\n

    CEO Brian Moynihan said, \u201cWe did this in a healthy but slowing economy that saw U.S. consumer spending still ahead of last year but continuing to slow.\u201d<\/span><\/p>\n

    Goldman Sachs Beats Q3 Estimates<\/span><\/h2>\n

    Goldman Sachs <\/b>(GS) shares are up 0.5% in premarket trade after beating Q3 expectations on the top and bottom line.\u00a0<\/span><\/p>\n

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

      \n
    • EPS: $5.47 vs $5.31 expected<\/span><\/li>\n
    • Revenue: $11.82 billion vs $11.19 billion expected<\/span><\/li>\n<\/ul>\n

      Profit tumbled 33% from a year ago while revenue was down 1%.\u00a0<\/span><\/p>\n

      Bond trading revenue slipped 6% to $3.38 billion, topping analysts\u2019 estimates by $600 million.<\/span><\/p>\n

      Goldman Sachs said strength in interest rate products and mortgages helped to offset declines in trading revenue.\u00a0<\/span><\/p>\n

      Johnson & Johnson Earnings Beat<\/span><\/h2>\n

      Johnson & Johnson <\/b>(JNJ) shares are up 1.2% ahead of the open after topping expectations in the third quarter.\u00a0<\/span><\/p>\n

      Here\u2019s how the pharmaceutical giant\u2019s results compared to analysts\u2019 estimates:<\/span><\/p>\n

        \n
      • Adjusted EPS: $2.66 vs $2.52 expected<\/span><\/li>\n
      • Revenue: $21.35 billion vs $21.04 billion expected<\/span><\/li>\n<\/ul>\n

        This marks Johnson & Johnson\u2019s first quarterly report since it complete the separation from its consumer health spinoff <\/span>Kenvue <\/b>(KVUE).<\/span><\/p>\n

        J&J\u2019s pharmaceutical sales totaled $13.89 billion in the quarter, up 5% year over year.\u00a0<\/span><\/p>\n

        The medical devices business brought in $7.46 billion in sales, up 10% from a year ago.<\/span><\/p>\n

        The company hiked its full-year outlook after the Q3 beat.\u00a0<\/span><\/p>\n

        J&J now expects 2023 sales between $83.6 billion and $84 billion vs $83.2 billion to $84 billion previously.\u00a0<\/span><\/p>\n

        The company forecast full-year adjusted EPS of $10.07 to $10.13 vs $10.00 to $10.10 previously.\u00a0<\/span><\/p>\n

        Tupperware Replaces CEO<\/span><\/h2>\n

        Tupperware <\/b>(TUP) shares are rallying 8.9% in premarket trade after replacing its CEO.<\/span><\/p>\n

        The company announced it was replacing CEO Miguel Fernandez effective immediately this morning.<\/span><\/p>\n

        Laurie Ann Goldman, previous CEO of Avon North America and Spanx, was named CEO, president and a board member.<\/span><\/p>\n

        Tupperware said Goldman would \u201csupport the company\u2019s continued turnaround strategy and execution.\u201d<\/span><\/p>\n

        The company also announced a \u201cboard refreshment\u201d as four directors stepped down and three were added.\u00a0<\/span><\/p>\n

        The chair of the board said, \u201cNow is the right time to bring in new leadership, and Laurie Ann is exceptionally well-suited to advance our long-term strategy and accelerate growth.\u201d<\/span><\/p>\n

        Wyndham Pops On Takeover Offer<\/span><\/h2>\n

        Wyndham Hotels & Resorts <\/b>(WH) shares are surging 13.2% ahead of the open after a proposed takeover from <\/span>Choice Hotels <\/b>(CHH).<\/span><\/p>\n

        Choice proposed to acquire Wyndham for about $7.8 billion today.<\/span><\/p>\n

        The takeover would be a cash and stock deal and would create a new U.S. budget hotel giant.\u00a0<\/span><\/p>\n

        Wyndham shareholders would receive $90.00 per share, including $49.50 in cash and 0.324 shares of CHH common stock, for every WH share they own.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

        Register now for tomorrow’s free trading Q&A on LinkedIn with David Prince! DJIA Futures: -84 (-0.3%) SPX Futures: -17 (-0.4%) NASDAQ Futures: -88 (-0.6%) Good morning friends! Futures are slipping as traders grow concerned over higher rates. Let\u2019s get right to it! Retail Sales Beat U.S. retail sales were much stronger than expected in September.\u00a0 The Commerce Department reported retail sales rose 0.7% last month to $704.9 billion.\u00a0 That was more than double expectations for a 0.3% gain. Core retail sales also jumped 0.6%, triple expectations for a 0.2% increase.\u00a0 August retail sales were also revised higher to show a 0.8% gain from 0.6% initially.\u00a0\u00a0 Miscellaneous retailers saw the largest increase in spending last month, up 3% from August.\u00a0 Online spending jumped 1.1% while car dealers saw a 1.1% increase in sales.\u00a0 There were only categories that logged a decline in sales last month.\u00a0 Electronics and appliance stores sales fell 0.8%, sales at clothing stores fell 0.8%, and sales at building material stores fell 0.2%. Bank of America Tops Q3 Expectations Bank of America (BAC) shares are up 1% ahead of the open after beating Q3 expectations on the top and bottom line. Here\u2019s how the bank\u2019s results compared to analysts\u2019 estimates:\u00a0 EPS: $0.90 vs $0.82 expected Revenue: $25.32 billion vs $25.14 billion expected Profit jumped 10% year over year while revenue climbed 2.9%>\u00a0 Bank of America\u2019s interest income rose 4% from a year ago, topping estimates by roughly $300 million.\u00a0 Consumer banking deposits fell 8% during the quarter but the segment posted a 6% increase in revenue.\u00a0 CEO Brian Moynihan said, \u201cWe did this in a healthy but slowing economy that saw U.S. consumer spending still ahead of last year but continuing to slow.\u201d Goldman Sachs Beats Q3 Estimates Goldman Sachs (GS) shares are up 0.5% in premarket trade after beating Q3 expectations on the top and bottom line.\u00a0 Here\u2019s how the investment bank\u2019s results compared to analysts\u2019 estimates:\u00a0 EPS: $5.47 vs $5.31 expected Revenue: $11.82 billion vs $11.19 billion expected Profit tumbled 33% from a year ago while revenue was down 1%.\u00a0 Bond trading revenue slipped 6% to $3.38 billion, topping analysts\u2019 estimates by $600 million. Goldman Sachs said strength in interest rate products and mortgages helped to offset declines in trading revenue.\u00a0 Johnson & Johnson Earnings Beat Johnson & Johnson (JNJ) shares are up 1.2% ahead of the open after topping expectations in the third quarter.\u00a0 Here\u2019s how the pharmaceutical giant\u2019s results compared to analysts\u2019 estimates: Adjusted EPS: $2.66 vs $2.52 expected Revenue: $21.35 billion vs $21.04 billion expected This marks Johnson & Johnson\u2019s first quarterly report since it complete the separation from its consumer health spinoff Kenvue (KVUE). J&J\u2019s pharmaceutical sales totaled $13.89 billion in the quarter, up 5% year over year.\u00a0 The medical devices business brought in $7.46 billion in sales, up 10% from a year ago. The company hiked its full-year outlook after the Q3 beat.\u00a0 J&J now expects 2023 sales between $83.6 billion and $84 billion vs $83.2 billion to $84 billion previously.\u00a0 The company forecast full-year adjusted EPS of $10.07 to $10.13 vs $10.00 to $10.10 previously.\u00a0 Tupperware Replaces CEO Tupperware (TUP) shares are rallying 8.9% in premarket trade after replacing its CEO. The company announced it was replacing CEO Miguel Fernandez effective immediately this morning. Laurie Ann Goldman, previous CEO of Avon North America and Spanx, was named CEO, president and a board member. Tupperware said Goldman would \u201csupport the company\u2019s continued turnaround strategy and execution.\u201d The company also announced a \u201cboard refreshment\u201d as four directors stepped down and three were added.\u00a0 The chair of the board said, \u201cNow is the right time to bring in new leadership, and Laurie Ann is exceptionally well-suited to advance our long-term strategy and accelerate growth.\u201d Wyndham Pops On Takeover Offer Wyndham Hotels & Resorts (WH) shares are surging 13.2% ahead of the open after a proposed takeover from Choice Hotels (CHH). Choice proposed to acquire Wyndham for about $7.8 billion today. The takeover would be a cash and stock deal and would create a new U.S. budget hotel giant.\u00a0 Wyndham shareholders would receive $90.00 per share, including $49.50 in cash and 0.324 shares of CHH common stock, for every WH share they own.\u00a0<\/p>\n","protected":false},"author":41,"featured_media":71651,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-71646","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\/71646","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=71646"}],"version-history":[{"count":2,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/71646\/revisions"}],"predecessor-version":[{"id":71654,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/71646\/revisions\/71654"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/71651"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=71646"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=71646"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=71646"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}