{"id":72024,"date":"2023-11-07T08:48:28","date_gmt":"2023-11-07T13:48:28","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=72024"},"modified":"2023-11-07T08:48:28","modified_gmt":"2023-11-07T13:48:28","slug":"coffee-with-greta-rally-fizzles-2","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2023\/11\/07\/coffee-with-greta-rally-fizzles-2\/","title":{"rendered":"Coffee With Greta: Rally Fizzles"},"content":{"rendered":"

Register now<\/strong><\/a> for tomorrow's free trading Q&A on LinkedIn with options specialist Dan Darrow!<\/p>\n

DJIA Futures: <\/b>-68 (-0.2%)<\/span><\/p>\n

SPX Futures: <\/b>-7 (-0.2%)<\/span><\/p>\n

NASDAQ Futures: <\/b>+6 (+0.04%)<\/span><\/p>\n

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

Futures are mostly lower as stocks take a breather from the recent rally.<\/span><\/p>\n

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

Yields Fall, Futures Slip<\/span><\/h2>\n

Both Treasury yields and stock futures are down this morning.\u00a0<\/span><\/p>\n

The 10-year yield is down 2 basis points at 4.63% as investors await Fed speakers this week.\u00a0<\/span><\/p>\n

Focus is on the Fed Chair\u2019s opening remarks on Wednesday and speech at the IMF panel on Thursday.<\/span><\/p>\n

The Fed\u2019s Vice Chair for Supervision, Michael Barr, is scheduled to speak this morning with Fed Governor Christopher Waller giving a speech at 10:00 a.m. ET.<\/span><\/p>\n

Economic data this week is light, giving traders very little clues on the state of the economy after the softer-than-expected jobs report on Friday.<\/span><\/p>\n

Uber Slips On Earnings Miss<\/span><\/h2>\n

Uber Technologies <\/b>(UBER) shares are down 1.2% ahead of the open after missing Q3 expectations on the top and bottom line.\u00a0<\/span><\/p>\n

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

    \n
  • EPS: $0.10 vs $0.12 expected<\/span><\/li>\n
  • Revenue: $9.29 billion vs $9.52 billion expected<\/span><\/li>\n<\/ul>\n

    Revenue rose 11% year over year.<\/span><\/p>\n

    Despite the miss, the CEO said Q3 was \u201cvery strong\u201d and he saw accelerations in gross bookings, trips, and monthly active platform consumers.<\/span><\/p>\n

    He said, \u201cThese results demonstrate that Uber continues to drive profitable growth at scale\u2014and why we believe we\u2019re well positioned for the journey ahead, in good or bad macro environments.\u201d<\/span><\/p>\n

    Uber had $17.90 billion in mobility gross bookings last quarter, up 31% from a year ago.\u00a0<\/span><\/p>\n

    The company logged $16.09 billion in delivery gross bookings, up 18% year over year.<\/span><\/p>\n

    Uber forecast Q4 gross booking between $36.5 billion and $37.5 billion vs $36.5 billion expected.\u00a0<\/span><\/p>\n

    The company expects adjusted EBITDA of $1.18 billion to $1.24 billion in the current quarter.\u00a0<\/span><\/p>\n

    Trade Deficit Climbs<\/span><\/h2>\n

    The U.S. trade deficit rose more than expected in September as imports rebounded.\u00a0<\/span><\/p>\n

    The Bureau of Economic Analysis reported the deficit jumped 4.9% to $61.5 billion vs $59.8 billion expected.\u00a0<\/span><\/p>\n

    Exports rose 2.2% to $261.1 billion while imports rose 2.7% to $322.7 billion.<\/span><\/p>\n

    The goods deficit rose by $1.7 billion to $86.3 billion while the services surplus decreased by $1.2 billion to $24.8 billion.\u00a0<\/span><\/p>\n

    But the total 2023 gap is still on track to be the smallest increase since 2020.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

    Register now for tomorrow’s free trading Q&A on LinkedIn with options specialist Dan Darrow! DJIA Futures: -68 (-0.2%) SPX Futures: -7 (-0.2%) NASDAQ Futures: +6 (+0.04%) Good morning friends! Futures are mostly lower as stocks take a breather from the recent rally. Let\u2019s get right to it! Yields Fall, Futures Slip Both Treasury yields and stock futures are down this morning.\u00a0 The 10-year yield is down 2 basis points at 4.63% as investors await Fed speakers this week.\u00a0 Focus is on the Fed Chair\u2019s opening remarks on Wednesday and speech at the IMF panel on Thursday. The Fed\u2019s Vice Chair for Supervision, Michael Barr, is scheduled to speak this morning with Fed Governor Christopher Waller giving a speech at 10:00 a.m. ET. Economic data this week is light, giving traders very little clues on the state of the economy after the softer-than-expected jobs report on Friday. Uber Slips On Earnings Miss Uber Technologies (UBER) shares are down 1.2% ahead of the open after missing Q3 expectations on the top and bottom line.\u00a0 Here\u2019s how the ride-hailing giant\u2019s results compared to analysts\u2019 estimates: EPS: $0.10 vs $0.12 expected Revenue: $9.29 billion vs $9.52 billion expected Revenue rose 11% year over year. Despite the miss, the CEO said Q3 was \u201cvery strong\u201d and he saw accelerations in gross bookings, trips, and monthly active platform consumers. He said, \u201cThese results demonstrate that Uber continues to drive profitable growth at scale\u2014and why we believe we\u2019re well positioned for the journey ahead, in good or bad macro environments.\u201d Uber had $17.90 billion in mobility gross bookings last quarter, up 31% from a year ago.\u00a0 The company logged $16.09 billion in delivery gross bookings, up 18% year over year. Uber forecast Q4 gross booking between $36.5 billion and $37.5 billion vs $36.5 billion expected.\u00a0 The company expects adjusted EBITDA of $1.18 billion to $1.24 billion in the current quarter.\u00a0 Trade Deficit Climbs The U.S. trade deficit rose more than expected in September as imports rebounded.\u00a0 The Bureau of Economic Analysis reported the deficit jumped 4.9% to $61.5 billion vs $59.8 billion expected.\u00a0 Exports rose 2.2% to $261.1 billion while imports rose 2.7% to $322.7 billion. The goods deficit rose by $1.7 billion to $86.3 billion while the services surplus decreased by $1.2 billion to $24.8 billion.\u00a0 But the total 2023 gap is still on track to be the smallest increase since 2020.\u00a0<\/p>\n","protected":false},"author":41,"featured_media":72028,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-72024","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\/72024","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=72024"}],"version-history":[{"count":2,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/72024\/revisions"}],"predecessor-version":[{"id":72030,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/72024\/revisions\/72030"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/72028"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=72024"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=72024"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=72024"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}