{"id":72802,"date":"2023-12-08T08:55:33","date_gmt":"2023-12-08T13:55:33","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=72802"},"modified":"2023-12-08T08:55:33","modified_gmt":"2023-12-08T13:55:33","slug":"coffee-with-greta-hot-jobs-report-2","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2023\/12\/08\/coffee-with-greta-hot-jobs-report-2\/","title":{"rendered":"Coffee With Greta: Hot Jobs Report"},"content":{"rendered":"

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

DJIA Futures: <\/b>-12 (-0.03%)<\/span><\/p>\n

SPX Futures: <\/b>-2 (-0.04%)<\/span><\/p>\n

NASDAQ Futures: <\/b>-62 (-0.4%)<\/span><\/p>\n

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

Futures are falling as yields surge after the release of a hotter-than-expected November jobs report.<\/span><\/p>\n

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

Jobs Report Comes In Hot<\/span><\/h2>\n

The U.S. economy added more jobs than expected in November.\u00a0<\/span><\/p>\n

The Labor Department reported employers hired 199,000 workers last month vs 190,000 expected.\u00a0<\/span><\/p>\n

The unemployment rate also fell unexpectedly to 3.7% vs expectations for it to remain unchanged at 3.9%.<\/span><\/p>\n

The healthcare sector saw the largest increase, adding 77,000 jobs.\u00a0<\/span><\/p>\n

Government added 49,000, leisure and hospitality added 40,000, and manufacturing added 28,000.<\/span><\/p>\n

The retail sector lost 38,000 jobs while transportation and warehousing lost 5,000.<\/span><\/p>\n

Average hourly earnings rose 0.4% monthly and 4% year over year, ahead of expectations for a 0.3% monthly increase.<\/span><\/p>\n

September\u2019s job growth was revised lower by 35,000 to 262,000 while October was left unchanged at 150,000.<\/span><\/p>\n

Yields Pop<\/span><\/h2>\n

Treasury yields are rallying this morning after that labor market data.\u00a0<\/span><\/p>\n

The 10-year yield is up 7 basis points at 4.23% while the 2-year yield is up 8 basis points at 4.66%.\u00a0<\/span><\/p>\n

The unexpected drop in the unemployment rate shows the labor market maintaining resilience in the face of the Fed\u2019s rate hikes.\u00a0<\/span><\/p>\n

CME Group\u2019s FedWatch Tool still shows over 98% of traders expect no rate hike at next week\u2019s meeting.\u00a0<\/span><\/p>\n

But the question of when cuts may begin in 2024 remains up in the air.\u00a0<\/span><\/p>\n

Lululemon Slips On Muted Forecast<\/span><\/h2>\n

Lululemon athletica <\/b>(LULU) shares are down 2.3% ahead of the open after beating Q3 expectations but issuing muted guidance.\u00a0<\/span><\/p>\n

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

    \n
  • Adjusted EPS: $2.53 vs $2.28 expected<\/span><\/li>\n
  • Revenue: $2.20 billion vs $2.19 billion expected<\/span><\/li>\n<\/ul>\n

    Sales jumped 19% year over year, up 12% in North America and 49% internationally.\u00a0<\/span><\/p>\n

    But Q4 guidance was\u00a0 light.\u00a0<\/span><\/p>\n

    Lululemon expects EPS between $4.85 and $4.93 on sales of $3.14 billion to $3.17 billion. $9.55 billion to $9.58 billion.\u00a0<\/span><\/p>\n

    Analysts were forecasting EPS of $4.94 on $3.18 billion in revenue.<\/span><\/p>\n

    For the full year, the retailer forecast $9.55 billion to $9.58 billion in revenue vs $8.11 billion to $9.90 billion expected.\u00a0<\/span><\/p>\n

    The company\u2019s CFO said, \u201cWe\u2019re pleased with the trends we\u2019ve seen at the start of the holiday season. That being said, the majority of the quarter remains in front of us. We remain aware of the uncertainties in the macro environment, and we continue to plan a business for multiple scenarios.\u201d<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

    Register now for next week’s free pro trader Q&A on LinkedIn with Scott Redler! DJIA Futures: -12 (-0.03%) SPX Futures: -2 (-0.04%) NASDAQ Futures: -62 (-0.4%) Good morning friends! Futures are falling as yields surge after the release of a hotter-than-expected November jobs report. Let\u2019s get right to it! Jobs Report Comes In Hot The U.S. economy added more jobs than expected in November.\u00a0 The Labor Department reported employers hired 199,000 workers last month vs 190,000 expected.\u00a0 The unemployment rate also fell unexpectedly to 3.7% vs expectations for it to remain unchanged at 3.9%. The healthcare sector saw the largest increase, adding 77,000 jobs.\u00a0 Government added 49,000, leisure and hospitality added 40,000, and manufacturing added 28,000. The retail sector lost 38,000 jobs while transportation and warehousing lost 5,000. Average hourly earnings rose 0.4% monthly and 4% year over year, ahead of expectations for a 0.3% monthly increase. September\u2019s job growth was revised lower by 35,000 to 262,000 while October was left unchanged at 150,000. Yields Pop Treasury yields are rallying this morning after that labor market data.\u00a0 The 10-year yield is up 7 basis points at 4.23% while the 2-year yield is up 8 basis points at 4.66%.\u00a0 The unexpected drop in the unemployment rate shows the labor market maintaining resilience in the face of the Fed\u2019s rate hikes.\u00a0 CME Group\u2019s FedWatch Tool still shows over 98% of traders expect no rate hike at next week\u2019s meeting.\u00a0 But the question of when cuts may begin in 2024 remains up in the air.\u00a0 Lululemon Slips On Muted Forecast Lululemon athletica (LULU) shares are down 2.3% ahead of the open after beating Q3 expectations but issuing muted guidance.\u00a0 Here\u2019s how the athleisure retailer\u2019s results compared to analysts\u2019 estimates:\u00a0 Adjusted EPS: $2.53 vs $2.28 expected Revenue: $2.20 billion vs $2.19 billion expected Sales jumped 19% year over year, up 12% in North America and 49% internationally.\u00a0 But Q4 guidance was\u00a0 light.\u00a0 Lululemon expects EPS between $4.85 and $4.93 on sales of $3.14 billion to $3.17 billion. $9.55 billion to $9.58 billion.\u00a0 Analysts were forecasting EPS of $4.94 on $3.18 billion in revenue. For the full year, the retailer forecast $9.55 billion to $9.58 billion in revenue vs $8.11 billion to $9.90 billion expected.\u00a0 The company\u2019s CFO said, \u201cWe\u2019re pleased with the trends we\u2019ve seen at the start of the holiday season. That being said, the majority of the quarter remains in front of us. We remain aware of the uncertainties in the macro environment, and we continue to plan a business for multiple scenarios.\u201d<\/p>\n","protected":false},"author":41,"featured_media":72806,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-72802","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\/72802","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=72802"}],"version-history":[{"count":2,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/72802\/revisions"}],"predecessor-version":[{"id":72809,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/72802\/revisions\/72809"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/72806"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=72802"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=72802"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=72802"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}