{"id":72846,"date":"2023-12-15T09:01:52","date_gmt":"2023-12-15T14:01:52","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=72846"},"modified":"2023-12-15T09:01:52","modified_gmt":"2023-12-15T14:01:52","slug":"coffee-with-greta-huge-week","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2023\/12\/15\/coffee-with-greta-huge-week\/","title":{"rendered":"Coffee With Greta: Huge Week"},"content":{"rendered":"

Register now<\/a><\/strong> for next week's free pro trading Q&A on LinkedIn with T3 Trading Group's Patrick Hawe!<\/p>\n

DJIA Futures: <\/b>-28 (-0.1%)<\/span><\/p>\n

SPX Futures: <\/b>-3 (-0.1%)<\/span><\/p>\n

NASDAQ Futures: <\/b>+22 (+0.1%)<\/span><\/p>\n

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

Futures are mixed as this week\u2019s Fed-fueled surge takes a breather.<\/span><\/p>\n

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

New York Fed President Speaks<\/span><\/h2>\n

New York Fed President John Williams says the rate cuts are not a topic of discussion at the Fed yet.\u00a0<\/span><\/p>\n

In an interview with CNBC this morning, Williams said, \u201cWe aren\u2019t really talking about rate cuts right now. We\u2019re very focused on the question in front of us, which as chair Powell said… is, have we gotten monetary policy to a sufficiently restrictive stance in order to ensure the inflation comes back down to 2%? That\u2019s the question in front of us.\u201d<\/span><\/p>\n

His comments appeared to be an attempt to rein in some market enthusiasm after the updated dot plot showed plans for three rate cuts in 2024.\u00a0<\/span><\/p>\n

Williams said the Fed is ready and willing to tighten policy again if the data warranted it.\u00a0<\/span><\/p>\n

He said, \u201cOne thing we\u2019ve learned even over the past year is that the data can move and in surprising ways, we need to be ready to move to tighten the policy further, if the progress of inflation were to stall or reverse.\u201d\u00a0<\/span><\/p>\n

Key Manufacturing Index Tumbles<\/span><\/h2>\n

The Empire State manufacturing index fell sharply this month into negative territory.\u00a0<\/span><\/p>\n

The index dropped 24 points to -14.5.\u00a0<\/span><\/p>\n

That was lower than economists\u2019 expectations for 4 and marked the lowest reading in four months.\u00a0<\/span><\/p>\n

The new orders index dropped for the third straight month by 6 points to -11.3.\u00a0<\/span><\/p>\n

The six-month expectations index rose 13 points to 12.1.<\/span><\/p>\n

Costco Rises After Earnings Beat<\/span><\/h2>\n

Costco <\/b>(COST) shares are up 1.9% ahead of the open after beating fiscal Q1 expectations.\u00a0<\/span><\/p>\n

Here\u2019s how the big box store\u2019s results compared to analysts\u2019 estimates:\u00a0<\/span><\/p>\n

    \n
  • EPS: $3.58 vs $3.41 expected<\/span><\/li>\n
  • Revenue: $57.8 billion, in line with expectations<\/span><\/li>\n<\/ul>\n

    Same-store sales rose 3.8% year over year while e-commerce same-store sales jumped 6.3%.\u00a0<\/span><\/p>\n

    Costco added 72 million paid household members during the quarter, up 7.6% from a year ago.\u00a0<\/span><\/p>\n

    The company also announced a special cash dividend of $15 per common share, payable January 12.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

    Register now for next week’s free pro trading Q&A on LinkedIn with T3 Trading Group’s Patrick Hawe! DJIA Futures: -28 (-0.1%) SPX Futures: -3 (-0.1%) NASDAQ Futures: +22 (+0.1%) Good morning friends! Futures are mixed as this week\u2019s Fed-fueled surge takes a breather. Let\u2019s get right to it! New York Fed President Speaks New York Fed President John Williams says the rate cuts are not a topic of discussion at the Fed yet.\u00a0 In an interview with CNBC this morning, Williams said, \u201cWe aren\u2019t really talking about rate cuts right now. We\u2019re very focused on the question in front of us, which as chair Powell said… is, have we gotten monetary policy to a sufficiently restrictive stance in order to ensure the inflation comes back down to 2%? That\u2019s the question in front of us.\u201d His comments appeared to be an attempt to rein in some market enthusiasm after the updated dot plot showed plans for three rate cuts in 2024.\u00a0 Williams said the Fed is ready and willing to tighten policy again if the data warranted it.\u00a0 He said, \u201cOne thing we\u2019ve learned even over the past year is that the data can move and in surprising ways, we need to be ready to move to tighten the policy further, if the progress of inflation were to stall or reverse.\u201d\u00a0 Key Manufacturing Index Tumbles The Empire State manufacturing index fell sharply this month into negative territory.\u00a0 The index dropped 24 points to -14.5.\u00a0 That was lower than economists\u2019 expectations for 4 and marked the lowest reading in four months.\u00a0 The new orders index dropped for the third straight month by 6 points to -11.3.\u00a0 The six-month expectations index rose 13 points to 12.1. Costco Rises After Earnings Beat Costco (COST) shares are up 1.9% ahead of the open after beating fiscal Q1 expectations.\u00a0 Here\u2019s how the big box store\u2019s results compared to analysts\u2019 estimates:\u00a0 EPS: $3.58 vs $3.41 expected Revenue: $57.8 billion, in line with expectations Same-store sales rose 3.8% year over year while e-commerce same-store sales jumped 6.3%.\u00a0 Costco added 72 million paid household members during the quarter, up 7.6% from a year ago.\u00a0 The company also announced a special cash dividend of $15 per common share, payable January 12.<\/p>\n","protected":false},"author":41,"featured_media":72851,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-72846","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\/72846","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=72846"}],"version-history":[{"count":2,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/72846\/revisions"}],"predecessor-version":[{"id":72852,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/72846\/revisions\/72852"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/72851"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=72846"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=72846"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=72846"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}