{"id":72862,"date":"2023-12-19T09:03:49","date_gmt":"2023-12-19T14:03:49","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=72862"},"modified":"2023-12-19T09:03:49","modified_gmt":"2023-12-19T14:03:49","slug":"coffee-with-greta-bulls-in-control","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2023\/12\/19\/coffee-with-greta-bulls-in-control\/","title":{"rendered":"Coffee With Greta: Bulls In Control"},"content":{"rendered":"

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

DJIA Futures: <\/b>+78 (+0.2%)<\/span><\/p>\n

SPX Futures: <\/b>+10 (+0.2%)<\/span><\/p>\n

NASDAQ Futures: <\/b>+21 (+0.1%)<\/span><\/p>\n

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

Futures are rising as the rally continues.<\/span><\/p>\n

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

Futures Extend Rally<\/span><\/h2>\n

The major indexes are all inching higher ahead of the market open.<\/span><\/p>\n

The <\/span>S&P 500 <\/b>is currently trading just above 4,800, higher than its all-time closing high of 4,797.56 in January 2022.\u00a0<\/span><\/p>\n

The <\/span>Dow <\/b>notched out a new closing record on Monday and the <\/span>Nasdaq <\/b>is still climbing as well.<\/span><\/p>\n

Fed officials have attempted to throw cold water on the market\u2019s anticipation of rate cuts at the end of Q1 but traders seem to have brushed off those comments.\u00a0<\/span><\/p>\n

For the month, the S&P 500 is up 3.8%, the Nasdaq is up 4.8%, and the Dow is up 3.8%.<\/span><\/p>\n

Bonds Continue Downtrend<\/span><\/h2>\n

Treasury yields are falling this morning after rising on Monday.\u00a0<\/span><\/p>\n

The 10-year yield is down 3 basis points at 3.91% with the 2-year yield down 2 basis points at 4.45%.\u00a0<\/span><\/p>\n

Yields have been on a downward trend since the Fed meeting last Wednesday as traders assess the future of rate cuts.\u00a0<\/span><\/p>\n

CME Group\u2019s FedWatch Tool shows just under 66% of traders anticipating the first 25 basis point cut at the March meeting.\u00a0<\/span><\/p>\n

Homebuilding Rebounds<\/span><\/h2>\n

U.S. homebuilding rebounded more than expected in November.\u00a0<\/span><\/p>\n

The Census Bureau reported housing starts surged 14.8% monthly and 9.3% annually to a seasonally adjusted annual rate of 1.56 million units.\u00a0<\/span><\/p>\n

That topped expectations for 1.36 million and was the strongest pace since May.\u00a0<\/span><\/p>\n

Single-family starts jumped 18% with multi-family starts up 8.9%.\u00a0<\/span><\/p>\n

But new permits issued for future builds fell more than expected.\u00a0<\/span><\/p>\n

Permits fell 2.5% monthly and 4.1% annually to a SAAR of 1.46 million units vs 1.48 million expected.<\/span><\/p>\n

Single-family permits rose 0.7% while multi-family permits dropped 9.6%.<\/span><\/p>\n

In Case You Missed It<\/span><\/h2>\n
    \n
  • Homebuilder sentiment rebounded more than expected this month as mortgage rates dropped. The National Association of Homebuilders sentiment index rose three points to 37 vs 36 expected. That was the first increase in four months but any reading below 50 is considered negative. Sentiment about current sales conditions was unchanged at 40, buyer traffic rose three points to 24, and six-month sales expectations jumped six points to 45.<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"

    Register now for this week’s free pro trading Q&A on LinkedIn with T3 Trading Group’s Patrick Hawe! DJIA Futures: +78 (+0.2%) SPX Futures: +10 (+0.2%) NASDAQ Futures: +21 (+0.1%) Good morning friends! Futures are rising as the rally continues. Let\u2019s get right to it! Futures Extend Rally The major indexes are all inching higher ahead of the market open. The S&P 500 is currently trading just above 4,800, higher than its all-time closing high of 4,797.56 in January 2022.\u00a0 The Dow notched out a new closing record on Monday and the Nasdaq is still climbing as well. Fed officials have attempted to throw cold water on the market\u2019s anticipation of rate cuts at the end of Q1 but traders seem to have brushed off those comments.\u00a0 For the month, the S&P 500 is up 3.8%, the Nasdaq is up 4.8%, and the Dow is up 3.8%. Bonds Continue Downtrend Treasury yields are falling this morning after rising on Monday.\u00a0 The 10-year yield is down 3 basis points at 3.91% with the 2-year yield down 2 basis points at 4.45%.\u00a0 Yields have been on a downward trend since the Fed meeting last Wednesday as traders assess the future of rate cuts.\u00a0 CME Group\u2019s FedWatch Tool shows just under 66% of traders anticipating the first 25 basis point cut at the March meeting.\u00a0 Homebuilding Rebounds U.S. homebuilding rebounded more than expected in November.\u00a0 The Census Bureau reported housing starts surged 14.8% monthly and 9.3% annually to a seasonally adjusted annual rate of 1.56 million units.\u00a0 That topped expectations for 1.36 million and was the strongest pace since May.\u00a0 Single-family starts jumped 18% with multi-family starts up 8.9%.\u00a0 But new permits issued for future builds fell more than expected.\u00a0 Permits fell 2.5% monthly and 4.1% annually to a SAAR of 1.46 million units vs 1.48 million expected. Single-family permits rose 0.7% while multi-family permits dropped 9.6%. In Case You Missed It Homebuilder sentiment rebounded more than expected this month as mortgage rates dropped. The National Association of Homebuilders sentiment index rose three points to 37 vs 36 expected. That was the first increase in four months but any reading below 50 is considered negative. Sentiment about current sales conditions was unchanged at 40, buyer traffic rose three points to 24, and six-month sales expectations jumped six points to 45.<\/p>\n","protected":false},"author":41,"featured_media":72865,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-72862","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\/72862","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=72862"}],"version-history":[{"count":2,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/72862\/revisions"}],"predecessor-version":[{"id":72868,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/72862\/revisions\/72868"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/72865"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=72862"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=72862"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=72862"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}