{"id":72595,"date":"2023-12-04T09:05:51","date_gmt":"2023-12-04T14:05:51","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=72595"},"modified":"2023-12-04T09:05:51","modified_gmt":"2023-12-04T14:05:51","slug":"coffee-with-greta-new-week-pullback","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2023\/12\/04\/coffee-with-greta-new-week-pullback\/","title":{"rendered":"Coffee With Greta: New Week Pullback"},"content":{"rendered":"

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

DJIA Futures: <\/b>-132 (-0.4%)<\/span><\/p>\n

SPX Futures: <\/b>-25 (-0.5%)<\/span><\/p>\n

NASDAQ Futures: <\/b>-114 (-0.7%)<\/span><\/p>\n

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

Futures are slipping after the S&P 500 closed at a fresh 2023 high on Friday.<\/span><\/p>\n

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

Futures Slip<\/span><\/h2>\n

Stocks are starting the new week of trade lower following a five-week win streak for the <\/span>S&P 500<\/b>.<\/span><\/p>\n

Gold is also pulling back a bit after surging past $2,100 to a fresh record.\u00a0<\/span><\/p>\n

Spot gold prices hit a high of $2,110.80 per ounce this morning before giving back some of those gains.\u00a0<\/span><\/p>\n

Currently, prices are down about 0.5% at $2,080 per ounce.\u00a0<\/span><\/p>\n

Crypto Stocks Jump Amid Bitcoin Rally<\/span><\/h2>\n

Crypto-related stocks are surging this morning as Bitcoin nears $42,000.\u00a0<\/span><\/p>\n

Bitcoin prices are up 5.6% at just over $41,800.00, marking a 19-month high for the digital currency.\u00a0<\/span><\/p>\n

Marathon Digital Holdings<\/b> (MARA) shares are surging 14.2% ahead of the open, <\/span>Riot Platforms <\/b>(RIOT) shares are up 12.1%, and <\/span>Coinbase <\/b>(COIN) shares are 8.8% higher.\u00a0<\/span><\/p>\n

Bitcoin is up more than 145% from the start of this year.\u00a0<\/span><\/p>\n

The rally comes as bitcoin ETFs appear to be making progress.\u00a0<\/span><\/p>\n

The SEC reportedly met with representatives from Grayscale, BlackRock, and the Nasdaq last week.\u00a0<\/span><\/p>\n

Grayscale is looking to turn its <\/span>Grayscale Bitcoin Trust <\/b>(GBTC) into an ETF while BlackRock is working to launch the first ever spot bitcoin ETF.<\/span><\/p>\n

Spotify Rises After Layoff Announcement<\/span><\/h2>\n

Spotify <\/b>(SPOT) shares are up 6.6% in premarket trade after announcing layoffs this morning.\u00a0<\/span><\/p>\n

CEO Daniel Ek said the music streaming company will lay off 17% of its workforce in a move to reduce costs and adjust for a slowdown in growth.\u00a0<\/span><\/p>\n

In an email to staff, Ek said Spotify is taking\u00a0 \u201csubstantial action to rightsize our costs.\u201d<\/span><\/p>\n

He said the company hired too many employees in 2020 and 2021.\u00a0<\/span><\/p>\n

The layoffs will impact roughly 1,500 employees and are in addition to the roughly 800 jobs cut earlier this year.\u00a0<\/span><\/p>\n

Virgin Galactic Plunges<\/span><\/h2>\n

Virgin Galactic <\/b>(SPCE) shares are tumbling 14.5% ahead of the open after Richard Branson said he will not invest further in the company.<\/span><\/p>\n

In a Financial Times interview on Sunday, Branson said his business empire no longer has \u201cthe deepest pockets\u201d and Virgin Galactic should have \u201csufficient funds to do its job on its own.\u201d<\/span><\/p>\n

The comments come after the company announced job cuts last month and said it will suspend commercial flights for 18 months from the start of 2024.\u00a0<\/span><\/p>\n

The cost-cutting efforts are part of Virgin Galactic\u2019s plan to develop a larger aircraft aimed at taking passengers to the edge of space.<\/span><\/p>\n

The company estimates its current funding will carry it through 2026 when that aircraft is scheduled to enter service.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Register now for this week’s free pro trader Q&A on LinkedIn with Derrick Oldensmith! DJIA Futures: -132 (-0.4%) SPX Futures: -25 (-0.5%) NASDAQ Futures: -114 (-0.7%) Good morning friends! Futures are slipping after the S&P 500 closed at a fresh 2023 high on Friday. Let\u2019s get right to it! Futures Slip Stocks are starting the new week of trade lower following a five-week win streak for the S&P 500. Gold is also pulling back a bit after surging past $2,100 to a fresh record.\u00a0 Spot gold prices hit a high of $2,110.80 per ounce this morning before giving back some of those gains.\u00a0 Currently, prices are down about 0.5% at $2,080 per ounce.\u00a0 Crypto Stocks Jump Amid Bitcoin Rally Crypto-related stocks are surging this morning as Bitcoin nears $42,000.\u00a0 Bitcoin prices are up 5.6% at just over $41,800.00, marking a 19-month high for the digital currency.\u00a0 Marathon Digital Holdings (MARA) shares are surging 14.2% ahead of the open, Riot Platforms (RIOT) shares are up 12.1%, and Coinbase (COIN) shares are 8.8% higher.\u00a0 Bitcoin is up more than 145% from the start of this year.\u00a0 The rally comes as bitcoin ETFs appear to be making progress.\u00a0 The SEC reportedly met with representatives from Grayscale, BlackRock, and the Nasdaq last week.\u00a0 Grayscale is looking to turn its Grayscale Bitcoin Trust (GBTC) into an ETF while BlackRock is working to launch the first ever spot bitcoin ETF. Spotify Rises After Layoff Announcement Spotify (SPOT) shares are up 6.6% in premarket trade after announcing layoffs this morning.\u00a0 CEO Daniel Ek said the music streaming company will lay off 17% of its workforce in a move to reduce costs and adjust for a slowdown in growth.\u00a0 In an email to staff, Ek said Spotify is taking\u00a0 \u201csubstantial action to rightsize our costs.\u201d He said the company hired too many employees in 2020 and 2021.\u00a0 The layoffs will impact roughly 1,500 employees and are in addition to the roughly 800 jobs cut earlier this year.\u00a0 Virgin Galactic Plunges Virgin Galactic (SPCE) shares are tumbling 14.5% ahead of the open after Richard Branson said he will not invest further in the company. In a Financial Times interview on Sunday, Branson said his business empire no longer has \u201cthe deepest pockets\u201d and Virgin Galactic should have \u201csufficient funds to do its job on its own.\u201d The comments come after the company announced job cuts last month and said it will suspend commercial flights for 18 months from the start of 2024.\u00a0 The cost-cutting efforts are part of Virgin Galactic\u2019s plan to develop a larger aircraft aimed at taking passengers to the edge of space. The company estimates its current funding will carry it through 2026 when that aircraft is scheduled to enter service.<\/p>\n","protected":false},"author":41,"featured_media":72596,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-72595","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\/72595","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=72595"}],"version-history":[{"count":1,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/72595\/revisions"}],"predecessor-version":[{"id":72597,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/72595\/revisions\/72597"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/72596"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=72595"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=72595"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=72595"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}