{"id":72583,"date":"2023-12-01T09:00:33","date_gmt":"2023-12-01T14:00:33","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=72583"},"modified":"2023-12-01T09:05:29","modified_gmt":"2023-12-01T14:05:29","slug":"coffee-with-greta-new-month-begins","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2023\/12\/01\/coffee-with-greta-new-month-begins\/","title":{"rendered":"Coffee With Greta: New Month Begins"},"content":{"rendered":"

Register now<\/strong><\/a> for next week's free pro trader Q&A on LinkedIn with Derrick Oldensmith!<\/p>\n

DJIA Futures: <\/b>-14 (-0.04%)<\/span><\/p>\n

SPX Futures: <\/b>-9 (-0.2%)<\/span><\/p>\n

NASDAQ Futures: <\/b>-52 (-0.3%)<\/span><\/p>\n

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

Futures are falling to kickoff a new month of trade.<\/span><\/p>\n

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

New Month Begins<\/span><\/h2>\n

Stocks are kicking off December lower after ending November at a new 2023 high.\u00a0<\/span><\/p>\n

The <\/span>Dow <\/b>jumped 8.8% last month for its best monthly performance since October 2022.\u00a0<\/span><\/p>\n

The <\/span>S&P 500 <\/b>rallied 8.9% and the <\/span>Nasdaq <\/b>jumped 10.7%, the best monthly performances for both indexes since July 2022.\u00a0<\/span><\/p>\n

The Dow and S&P are both on track to log weekly gains as well for the fifth consecutive week.\u00a0<\/span><\/p>\n

Focus today is on Fed Chair Jerome Powell as he\u2019s scheduled to speak at an event at 11:00 a.m. ET.\u00a0<\/span><\/p>\n

The Fed\u2019s next rate decision is on December 13 and over 99% of traders are betting the Central Bank is done hiking rates.\u00a0<\/span><\/p>\n

Pfizer Discontinues Weight Loss Drug Development<\/span><\/h2>\n

Pfizer <\/b>(PFE) shares are down 4.6% ahead of the open after announcing it will stop developing the twice-daily version of its experimental weight loss pill.\u00a0<\/span><\/p>\n

The drug maker said patients in the mid-stage clinical trial had trouble tolerating the drug.\u00a0<\/span><\/p>\n

Pfizer observed high rates of adverse side effects and more than 50% of patients in the study stopped taking the pill.\u00a0<\/span><\/p>\n

The company said, \u201cAt this time, twice-daily danuglipron formulation will not advance into Phase 3 studies.\u201d<\/span><\/p>\n

But Pfizer still plans to release phase two trial data on a once-a-day version of the drug in the first half of 2024.\u00a0<\/span><\/p>\n

Tesla Falls After Cybertruck Event<\/span><\/h2>\n

Tesla <\/b>(TSLA) shares are down 2.4% in premarket trade as traders digest the details about the Cybertruck.\u00a0<\/span><\/p>\n

The electric automaker hosted a Cybertruck delivery event in Austin on Thursday where CEO Elon Musk revealed details about the vehicle.\u00a0<\/span><\/p>\n

Musk said the truck body is bulletproof, its windows are \u201crock proof\u201d, it can tow over 11,000 pounds, accelerate from 0 to 60 miles per hour in 2.6 seconds, and features a \u201csuper-tough\u201d composite bed that is six feet long and four feet wide.\u00a0<\/span><\/p>\n

He said the truck would \u201cchange the look of the roads\u201d and that the \u201cfuture finally looks like the future.\u201d<\/span><\/p>\n

The base model rear-wheel drive version of the Cybertruck will begin at $60,990 while a \u201cCyberbeast\u201d version of the truck will start at $99,990.<\/span><\/p>\n

Tesla is also planning to sell an all-wheel drive version of the Cybertruck for $79,900 starting in 2025.\u00a0<\/span><\/p>\n

The base model has an expected 250-mile range battery, the all-wheel drive model will have a 340 mile range, and the Cyberbeast will have a 320 mile range.<\/span><\/p>\n

In Case You Missed It<\/span><\/h2>\n
    \n
  • Pending home sales dropped to a record low in October. The National Association of Realtors\u2019 pending home sales index fell 1.5% to 71.4. That was better than the 2% drop economists were expecting but is the lowest reading since the index was founded in 2001. Pending sales were down 8.5% from October 2022.<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"

    Register now for next week’s free pro trader Q&A on LinkedIn with Derrick Oldensmith! DJIA Futures: -14 (-0.04%) SPX Futures: -9 (-0.2%) NASDAQ Futures: -52 (-0.3%) Good morning friends! Futures are falling to kickoff a new month of trade. Let\u2019s get right to it! New Month Begins Stocks are kicking off December lower after ending November at a new 2023 high.\u00a0 The Dow jumped 8.8% last month for its best monthly performance since October 2022.\u00a0 The S&P 500 rallied 8.9% and the Nasdaq jumped 10.7%, the best monthly performances for both indexes since July 2022.\u00a0 The Dow and S&P are both on track to log weekly gains as well for the fifth consecutive week.\u00a0 Focus today is on Fed Chair Jerome Powell as he\u2019s scheduled to speak at an event at 11:00 a.m. ET.\u00a0 The Fed\u2019s next rate decision is on December 13 and over 99% of traders are betting the Central Bank is done hiking rates.\u00a0 Pfizer Discontinues Weight Loss Drug Development Pfizer (PFE) shares are down 4.6% ahead of the open after announcing it will stop developing the twice-daily version of its experimental weight loss pill.\u00a0 The drug maker said patients in the mid-stage clinical trial had trouble tolerating the drug.\u00a0 Pfizer observed high rates of adverse side effects and more than 50% of patients in the study stopped taking the pill.\u00a0 The company said, \u201cAt this time, twice-daily danuglipron formulation will not advance into Phase 3 studies.\u201d But Pfizer still plans to release phase two trial data on a once-a-day version of the drug in the first half of 2024.\u00a0 Tesla Falls After Cybertruck Event Tesla (TSLA) shares are down 2.4% in premarket trade as traders digest the details about the Cybertruck.\u00a0 The electric automaker hosted a Cybertruck delivery event in Austin on Thursday where CEO Elon Musk revealed details about the vehicle.\u00a0 Musk said the truck body is bulletproof, its windows are \u201crock proof\u201d, it can tow over 11,000 pounds, accelerate from 0 to 60 miles per hour in 2.6 seconds, and features a \u201csuper-tough\u201d composite bed that is six feet long and four feet wide.\u00a0 He said the truck would \u201cchange the look of the roads\u201d and that the \u201cfuture finally looks like the future.\u201d The base model rear-wheel drive version of the Cybertruck will begin at $60,990 while a \u201cCyberbeast\u201d version of the truck will start at $99,990. Tesla is also planning to sell an all-wheel drive version of the Cybertruck for $79,900 starting in 2025.\u00a0 The base model has an expected 250-mile range battery, the all-wheel drive model will have a 340 mile range, and the Cyberbeast will have a 320 mile range. In Case You Missed It Pending home sales dropped to a record low in October. The National Association of Realtors\u2019 pending home sales index fell 1.5% to 71.4. That was better than the 2% drop economists were expecting but is the lowest reading since the index was founded in 2001. Pending sales were down 8.5% from October 2022.<\/p>\n","protected":false},"author":41,"featured_media":72586,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-72583","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\/72583","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=72583"}],"version-history":[{"count":3,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/72583\/revisions"}],"predecessor-version":[{"id":72592,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/72583\/revisions\/72592"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/72586"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=72583"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=72583"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=72583"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}