{"id":72340,"date":"2023-11-28T09:02:04","date_gmt":"2023-11-28T14:02:04","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=72340"},"modified":"2023-11-28T09:02:04","modified_gmt":"2023-11-28T14:02:04","slug":"coffee-with-greta-november-rally-pauses","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2023\/11\/28\/coffee-with-greta-november-rally-pauses\/","title":{"rendered":"Coffee With Greta: November Rally Pauses"},"content":{"rendered":"

Register now<\/a><\/strong> for tomorrow's free trading Q&A on LinkedIn with crypto expert and trader John Divine!<\/p>\n

DJIA Futures: <\/b>-31 (-0.1%)<\/span><\/p>\n

SPX Futures: <\/b>-10 (-0.2%)<\/span><\/p>\n

NASDAQ Futures: <\/b>-33 (-0.2%)<\/span><\/p>\n

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

Futures are slipping as the November rally pauses.<\/span><\/p>\n

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

Rally Takes A Breather<\/span><\/h2>\n

Futures are falling this morning after the major indexes all posted modest declines on Monday.\u00a0<\/span><\/p>\n

All three are still on track for strong monthly gains, the <\/span>Dow<\/b> is up 6.9% so far in November, the <\/span>S&P 500 <\/b>has risen 8.5%, and the <\/span>Nasdaq <\/b>has surged 10.8%.<\/span><\/p>\n

Important economic data today includes the S&P Case-Shiller home price index, consumer confidence, and a slate of Fed speakers.<\/span><\/p>\n

While stocks are slipping, yields are inching higher.\u00a0<\/span><\/p>\n

The 10-year yield is up 1 basis point at 4.40% while the 2-year yield is up 2 basis points at 4.87%.<\/span><\/p>\n

Investors are looking ahead to the Fed\u2019s preferred inflation gauge this week with the PCE price index set to be released Thursday morning.<\/span><\/p>\n

Zcaler Slides After Earnings<\/span><\/h2>\n

Zscaler <\/b>(ZS) shares are down 5.1% ahead of the open despite topping fiscal Q1 results and raising its guidance.\u00a0<\/span><\/p>\n

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

    \n
  • Adjusted EPS: $0.67 vs $0.49 expected<\/span><\/li>\n
  • Revenue: $496.7 million vs $473 million expected<\/span><\/li>\n<\/ul>\n

    Revenue jumped 40% year over year while billings rose 34% to $456.6 million vs $441 million expected.\u00a0<\/span><\/p>\n

    Zscaler\u2019s CEO said the company is \u201cscaling our go-to-market and R&D organizations, strengthening our foundation for the long-term growth of our business,\u201d in order to meet growing demand.\u00a0<\/span><\/p>\n

    That implies higher costs and may be behind the drop in the stock.\u00a0<\/span><\/p>\n

    Zscaler forecast fiscal Q2 adjusted EPS between $0.57 and $0.58 on revenue of $505 million to $507 million.\u00a0<\/span><\/p>\n

    Analysts were anticipating guidance for $0.52 in adjusted EPS on $496 million in revenue.<\/span><\/p>\n

    Shein Files For U.S. IPO<\/span><\/h2>\n

    Fast-fashion retailer Shein has confidentially filed to go public in the U.S.\u00a0<\/span><\/p>\n

    CNBC reported on the filing this morning and says the Chinese-founded retailer was last valued at $66 billion.\u00a0<\/span><\/p>\n

    It\u2019s unclear what the company is currently valued at but sources say Shein could make its market debut as soon as 2024.\u00a0<\/span><\/p>\n

    The company recently acquired about one-third of Sparc Group, partnering up with U.S. retailer Forever 21 as part of that deal.\u00a0<\/span><\/p>\n

    Shein has reportedly tapped <\/span>Goldman Sachs <\/b>(GS), <\/span>JPMorgan Chase <\/b>(JPM), and <\/span>Morgan Stanley <\/b>(MS) to be the lead underwriters on the offering.<\/span>\u00a0<\/span><\/p>\n

    In Case You Missed It<\/span><\/h2>\n
      \n
    • New home sales dropped more than expected in October. Data from the Census Bureau shows sales of newly built homes tumbled 5.6% to a seasonally adjusted annual rate of 679,000 units. That was below 725,000 expected and September\u2019s sales were revised lower to 719,000 from 759,000 originally. The median price of a new home sold in October fell to $409,300 from $422.300 in September, down 17.6% year over year. That was the lowest median price since August 2021.\u00a0<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"

      Register now for tomorrow’s free trading Q&A on LinkedIn with crypto expert and trader John Divine! DJIA Futures: -31 (-0.1%) SPX Futures: -10 (-0.2%) NASDAQ Futures: -33 (-0.2%) Good morning friends! Futures are slipping as the November rally pauses. Let\u2019s get right to it! Rally Takes A Breather Futures are falling this morning after the major indexes all posted modest declines on Monday.\u00a0 All three are still on track for strong monthly gains, the Dow is up 6.9% so far in November, the S&P 500 has risen 8.5%, and the Nasdaq has surged 10.8%. Important economic data today includes the S&P Case-Shiller home price index, consumer confidence, and a slate of Fed speakers. While stocks are slipping, yields are inching higher.\u00a0 The 10-year yield is up 1 basis point at 4.40% while the 2-year yield is up 2 basis points at 4.87%. Investors are looking ahead to the Fed\u2019s preferred inflation gauge this week with the PCE price index set to be released Thursday morning. Zcaler Slides After Earnings Zscaler (ZS) shares are down 5.1% ahead of the open despite topping fiscal Q1 results and raising its guidance.\u00a0 Here\u2019s how the cloud security company\u2019s results compared to analysts\u2019 estimates:\u00a0 Adjusted EPS: $0.67 vs $0.49 expected Revenue: $496.7 million vs $473 million expected Revenue jumped 40% year over year while billings rose 34% to $456.6 million vs $441 million expected.\u00a0 Zscaler\u2019s CEO said the company is \u201cscaling our go-to-market and R&D organizations, strengthening our foundation for the long-term growth of our business,\u201d in order to meet growing demand.\u00a0 That implies higher costs and may be behind the drop in the stock.\u00a0 Zscaler forecast fiscal Q2 adjusted EPS between $0.57 and $0.58 on revenue of $505 million to $507 million.\u00a0 Analysts were anticipating guidance for $0.52 in adjusted EPS on $496 million in revenue. Shein Files For U.S. IPO Fast-fashion retailer Shein has confidentially filed to go public in the U.S.\u00a0 CNBC reported on the filing this morning and says the Chinese-founded retailer was last valued at $66 billion.\u00a0 It\u2019s unclear what the company is currently valued at but sources say Shein could make its market debut as soon as 2024.\u00a0 The company recently acquired about one-third of Sparc Group, partnering up with U.S. retailer Forever 21 as part of that deal.\u00a0 Shein has reportedly tapped Goldman Sachs (GS), JPMorgan Chase (JPM), and Morgan Stanley (MS) to be the lead underwriters on the offering.\u00a0 In Case You Missed It New home sales dropped more than expected in October. Data from the Census Bureau shows sales of newly built homes tumbled 5.6% to a seasonally adjusted annual rate of 679,000 units. That was below 725,000 expected and September\u2019s sales were revised lower to 719,000 from 759,000 originally. The median price of a new home sold in October fell to $409,300 from $422.300 in September, down 17.6% year over year. That was the lowest median price since August 2021.\u00a0<\/p>\n","protected":false},"author":41,"featured_media":72346,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-72340","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\/72340","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=72340"}],"version-history":[{"count":2,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/72340\/revisions"}],"predecessor-version":[{"id":72347,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/72340\/revisions\/72347"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/72346"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=72340"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=72340"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=72340"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}