{"id":72831,"date":"2023-12-14T09:03:18","date_gmt":"2023-12-14T14:03:18","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=72831"},"modified":"2023-12-14T09:03:18","modified_gmt":"2023-12-14T14:03:18","slug":"coffee-with-greta-doves-take-flight","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2023\/12\/14\/coffee-with-greta-doves-take-flight\/","title":{"rendered":"Coffee With Greta: Doves Take Flight"},"content":{"rendered":"

DJIA Futures: <\/b>+162 (+0.4%)<\/span><\/p>\n

SPX Futures: <\/b>+22 (+0.5%)<\/span><\/p>\n

NASDAQ Futures: <\/b>+66 (+0.4%)<\/span><\/p>\n

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

Futures are rising after the Fed\u2019s dovish rate decision and outlook on Wednesday.<\/span><\/p>\n

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

Yields Tumble After Fed Turns Dovish<\/span><\/h2>\n

Treasury yields are falling this morning after the Federal Reserve left rates unchanged as expected on Wednesday and signaled plans for three rate cuts in 2024.\u00a0<\/span><\/p>\n

The 10-year yield is down 5 basis points at 3.97% while the 2-year yield is down 7 basis points at 4.36%.\u00a0<\/span><\/p>\n

It\u2019s the first time the 10-year yield has broken below 4% since August.\u00a0<\/span><\/p>\n

The Federal Funds Rate currently stands at a range of 5.25% to 5.50% and the updated dot plot shows at least three 25 basis point cuts next year.\u00a0<\/span><\/p>\n

Market pricing is a bit more aggressive with CME Group\u2019s FedWatch Tool showing over 71% of traders expecting the first rate cut in March.<\/span><\/p>\n

The FOMC also indicated another four cuts in 2025 and three more reductions in 2026.\u00a0<\/span><\/p>\n

That would bring the rate down to between 2% and 2.25%.\u00a0<\/span><\/p>\n

Retail Sales Rebound<\/span><\/h2>\n

Retail sales rose unexpectedly in November.\u00a0<\/span><\/p>\n

The Commerce Department reported retail sales jumped 0.3% last month vs a 0.1% decrease expected.\u00a0<\/span><\/p>\n

That was a turnaround from the 0.2% decrease in October.\u00a0<\/span><\/p>\n

Sales jumped 4.1% year over year.\u00a0<\/span><\/p>\n

Sales rose 1.6% at bars and restaurants, 1.3% at sporting goods stores, and 1% online.\u00a0<\/span><\/p>\n

Gas station sales dropped 2.9% as prices went down.\u00a0<\/span><\/p>\n

Excluding autos and gas, core retail sales rose 0.6%.<\/span><\/p>\n

Weekly Jobless Claims Fall<\/span><\/h2>\n

Weekly jobless claims fell unexpectedly last week as the labor market maintains strength.\u00a0<\/span><\/p>\n

The Labor Department reported 202,000 Americans filed initial claims for unemployment benefits.\u00a0<\/span><\/p>\n

That was down by 18,000 from the week before and sharply lower than 220,000 expected.\u00a0<\/span><\/p>\n

Continuing claims rose by 15,000 to 1.876 million vs 1.887 million expected.\u00a0<\/span><\/p>\n

Adobe Drops On Weak Guidance<\/span><\/h2>\n

Adobe <\/b>(ADBE) shares are down 3.9% ahead of the open after beating fiscal Q4 expectations but issuing soft guidance.\u00a0<\/span><\/p>\n

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

    \n
  • Adjusted EPS: $4.27 vs $4.14 expected<\/span><\/li>\n
  • Revenue: $5.05 billion vs $5.03 billion expected<\/span><\/li>\n<\/ul>\n

    Revenue jumped nearly 12% year over year while net income increase 26%.\u00a0<\/span><\/p>\n

    Adobe forecast fiscal 2024 adjusted EPS of $17.60 to $18 on $21.3 billion to $21.5 billion in revenue.\u00a0<\/span><\/p>\n

    That was weaker than analysts\u2019 expectations for adjusted EPS of $18 on $21.73 billion in revenue.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

    DJIA Futures: +162 (+0.4%) SPX Futures: +22 (+0.5%) NASDAQ Futures: +66 (+0.4%) Good morning friends! Futures are rising after the Fed\u2019s dovish rate decision and outlook on Wednesday. Let\u2019s get right to it! Yields Tumble After Fed Turns Dovish Treasury yields are falling this morning after the Federal Reserve left rates unchanged as expected on Wednesday and signaled plans for three rate cuts in 2024.\u00a0 The 10-year yield is down 5 basis points at 3.97% while the 2-year yield is down 7 basis points at 4.36%.\u00a0 It\u2019s the first time the 10-year yield has broken below 4% since August.\u00a0 The Federal Funds Rate currently stands at a range of 5.25% to 5.50% and the updated dot plot shows at least three 25 basis point cuts next year.\u00a0 Market pricing is a bit more aggressive with CME Group\u2019s FedWatch Tool showing over 71% of traders expecting the first rate cut in March. The FOMC also indicated another four cuts in 2025 and three more reductions in 2026.\u00a0 That would bring the rate down to between 2% and 2.25%.\u00a0 Retail Sales Rebound Retail sales rose unexpectedly in November.\u00a0 The Commerce Department reported retail sales jumped 0.3% last month vs a 0.1% decrease expected.\u00a0 That was a turnaround from the 0.2% decrease in October.\u00a0 Sales jumped 4.1% year over year.\u00a0 Sales rose 1.6% at bars and restaurants, 1.3% at sporting goods stores, and 1% online.\u00a0 Gas station sales dropped 2.9% as prices went down.\u00a0 Excluding autos and gas, core retail sales rose 0.6%. Weekly Jobless Claims Fall Weekly jobless claims fell unexpectedly last week as the labor market maintains strength.\u00a0 The Labor Department reported 202,000 Americans filed initial claims for unemployment benefits.\u00a0 That was down by 18,000 from the week before and sharply lower than 220,000 expected.\u00a0 Continuing claims rose by 15,000 to 1.876 million vs 1.887 million expected.\u00a0 Adobe Drops On Weak Guidance Adobe (ADBE) shares are down 3.9% ahead of the open after beating fiscal Q4 expectations but issuing soft guidance.\u00a0 Here\u2019s how the software maker\u2019s results compared to analysts\u2019 estimates:\u00a0 Adjusted EPS: $4.27 vs $4.14 expected Revenue: $5.05 billion vs $5.03 billion expected Revenue jumped nearly 12% year over year while net income increase 26%.\u00a0 Adobe forecast fiscal 2024 adjusted EPS of $17.60 to $18 on $21.3 billion to $21.5 billion in revenue.\u00a0 That was weaker than analysts\u2019 expectations for adjusted EPS of $18 on $21.73 billion in revenue.\u00a0<\/p>\n","protected":false},"author":41,"featured_media":72842,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-72831","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\/72831","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=72831"}],"version-history":[{"count":2,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/72831\/revisions"}],"predecessor-version":[{"id":72844,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/72831\/revisions\/72844"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/72842"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=72831"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=72831"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=72831"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}