{"id":73314,"date":"2024-01-11T09:01:51","date_gmt":"2024-01-11T14:01:51","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=73314"},"modified":"2024-01-11T09:04:24","modified_gmt":"2024-01-11T14:04:24","slug":"coffee-with-greta-hot-cpi-drags-down-stocks","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2024\/01\/11\/coffee-with-greta-hot-cpi-drags-down-stocks\/","title":{"rendered":"Coffee With Greta: Hot CPI Drags Down Stocks"},"content":{"rendered":"

DJIA Futures: <\/b>-46 (-0.1%)<\/span><\/p>\n

SPX Futures: <\/b>-7 (-0.2%)<\/span><\/p>\n

NASDAQ Futures: <\/b>-6 (-0.03%)<\/span><\/p>\n

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

Futures are slipping as new data shows inflation running hotter-than-expected and the labor market maintaining strength.<\/span><\/p>\n

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

CPI Comes In Hot<\/span><\/h2>\n

Consumer prices rose more than expected at the end of 2023.\u00a0<\/span><\/p>\n

The Bureau of Labor Statistics\u2019 consumer price index rose 0.3% monthly and 3.4% year over year.\u00a0<\/span><\/p>\n

That was higher than economists\u2019 expectations for a 0.2% monthly and 3.2% annual gain.\u00a0<\/span><\/p>\n

Food prices rose 0.2% monthly and energy prices rose 0.4%, a reversal from the 2.3% drop in November.\u00a0<\/span><\/p>\n

The core CPI rose 0.3% monthly and 3.9% annually vs 0.3% monthly and 3.8% annually expected.\u00a0<\/span><\/p>\n

The biggest contributor to that increase was rising shelter costs.\u00a0<\/span><\/p>\n

That category rose 0.5% monthly, accounting for more than half of the core CPI increase, and 6.2% annually.\u00a0<\/span><\/p>\n

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

Weekly jobless claims fell unexpectedly in the first week of the New Year.\u00a0<\/span><\/p>\n

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

That was down by 1,000 from the previous week and lower than expectations for an increase to 210,000.\u00a0<\/span><\/p>\n

It was the lowest level of claims since mid-October.\u00a0<\/span><\/p>\n

Continuing jobless claims fell by 34,000 to 1.83 million in the week ending December 30.\u00a0<\/span><\/p>\n

SEC Approves Spot Bitcoin ETFs<\/span><\/h2>\n

Crypto-related stocks are higher this morning after 11 spot bitcoin ETFs were approved to begin trading by the Securities and Exchange Commission.<\/span><\/p>\n

Coinbase <\/b>(COIN) shares are up 3.8% ahead of the open, <\/span>Marathon Digital <\/b>(MARA) shares are 5.7% higher, and <\/span>Riot Platforms <\/b>(RIOT) shares are up 5.2%.\u00a0<\/span><\/p>\n

Bitcoin is also up 3.3% at over $47,300.<\/span><\/p>\n

Here are the approved ETFs and the ticker symbols they will trade under:<\/span><\/p>\n

    \n
  • Blackrock $IBIT<\/span><\/li>\n
  • Grayscale $GBTC\u00a0<\/span><\/li>\n
  • Hashdex $DEFI\u00a0<\/span><\/li>\n
  • Valkyrie $BRRR<\/span><\/li>\n
  • Invesco $BTCO\u00a0<\/span><\/li>\n
  • Wisdom Tree $BTCW\u00a0\u00a0<\/span><\/li>\n
  • Franklin $EZBC\u00a0\u00a0<\/span><\/li>\n
  • Fidelity $FBTC\u00a0\u00a0<\/span><\/li>\n
  • Vaneck $HODL\u00a0<\/span><\/li>\n
  • Ark 21 $ARKB\u00a0<\/span><\/li>\n
  • Bitwise $BITB\u00a0<\/span><\/li>\n<\/ul>\n

    In a statement after the approval on Wednesday, SEC Chairman Gary Gensler said,\u00a0 “While we approved the listing and trading of certain spot bitcoin ETF shares today, we did not approve or endorse bitcoin.”<\/span><\/p>\n

    Ethereum prices also spiked after the decision, up 7.4% and topping $2,644.<\/span><\/p>\n

    The SEC is expected to make a decision on spot ETH ETF applications beginning in May.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

    DJIA Futures: -46 (-0.1%) SPX Futures: -7 (-0.2%) NASDAQ Futures: -6 (-0.03%) Good morning friends! Futures are slipping as new data shows inflation running hotter-than-expected and the labor market maintaining strength. Let\u2019s get right to it! CPI Comes In Hot Consumer prices rose more than expected at the end of 2023.\u00a0 The Bureau of Labor Statistics\u2019 consumer price index rose 0.3% monthly and 3.4% year over year.\u00a0 That was higher than economists\u2019 expectations for a 0.2% monthly and 3.2% annual gain.\u00a0 Food prices rose 0.2% monthly and energy prices rose 0.4%, a reversal from the 2.3% drop in November.\u00a0 The core CPI rose 0.3% monthly and 3.9% annually vs 0.3% monthly and 3.8% annually expected.\u00a0 The biggest contributor to that increase was rising shelter costs.\u00a0 That category rose 0.5% monthly, accounting for more than half of the core CPI increase, and 6.2% annually.\u00a0 Weekly Jobless Claims Fall Unexpectedly Weekly jobless claims fell unexpectedly in the first week of the New Year.\u00a0 The Labor Department reported 202,000 Americans filed initial claims for unemployment benefits last week. That was down by 1,000 from the previous week and lower than expectations for an increase to 210,000.\u00a0 It was the lowest level of claims since mid-October.\u00a0 Continuing jobless claims fell by 34,000 to 1.83 million in the week ending December 30.\u00a0 SEC Approves Spot Bitcoin ETFs Crypto-related stocks are higher this morning after 11 spot bitcoin ETFs were approved to begin trading by the Securities and Exchange Commission. Coinbase (COIN) shares are up 3.8% ahead of the open, Marathon Digital (MARA) shares are 5.7% higher, and Riot Platforms (RIOT) shares are up 5.2%.\u00a0 Bitcoin is also up 3.3% at over $47,300. Here are the approved ETFs and the ticker symbols they will trade under: Blackrock $IBIT Grayscale $GBTC\u00a0 Hashdex $DEFI\u00a0 Valkyrie $BRRR Invesco $BTCO\u00a0 Wisdom Tree $BTCW\u00a0\u00a0 Franklin $EZBC\u00a0\u00a0 Fidelity $FBTC\u00a0\u00a0 Vaneck $HODL\u00a0 Ark 21 $ARKB\u00a0 Bitwise $BITB\u00a0 In a statement after the approval on Wednesday, SEC Chairman Gary Gensler said,\u00a0 “While we approved the listing and trading of certain spot bitcoin ETF shares today, we did not approve or endorse bitcoin.” Ethereum prices also spiked after the decision, up 7.4% and topping $2,644. The SEC is expected to make a decision on spot ETH ETF applications beginning in May.\u00a0<\/p>\n","protected":false},"author":41,"featured_media":73316,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-73314","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\/73314","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=73314"}],"version-history":[{"count":3,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/73314\/revisions"}],"predecessor-version":[{"id":73321,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/73314\/revisions\/73321"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/73316"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=73314"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=73314"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=73314"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}