{"id":73613,"date":"2024-02-09T09:05:19","date_gmt":"2024-02-09T14:05:19","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=73613"},"modified":"2024-02-09T09:05:19","modified_gmt":"2024-02-09T14:05:19","slug":"coffee-with-greta-spx-tops-5000","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2024\/02\/09\/coffee-with-greta-spx-tops-5000\/","title":{"rendered":"Coffee With Greta: SPX Tops 5,000"},"content":{"rendered":"

DJIA Futures: <\/b>+73 (+0.2%)<\/span><\/p>\n

SPX Futures: <\/b>+14 (+0.3%)<\/span><\/p>\n

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

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

Futures are rising after an encouraging revision to December\u2019s inflation data.<\/span><\/p>\n

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

December CPI Revised Lower<\/span><\/h2>\n

The <\/span>S&P 500 <\/b>is poised to open above 5,000 this morning after briefly topping the historic milestone for the first time ever on Thursday.\u00a0<\/span><\/p>\n

Futures are up across all the major indexes with all three on track for their fifth consecutive winning week.\u00a0<\/span><\/p>\n

The government revised December\u2019s CPI print lower this morning to a 0.2% monthly gain vs 0.3% previously.\u00a0<\/span><\/p>\n

The core CPI remained at a 0.3% monthly gain.\u00a0<\/span><\/p>\n

The revisions are part of seasonal adjustments made by the Bureau of Labor Statistics but confirm inflation was cooler faster than previously thought at the end of 2023.\u00a0<\/span><\/p>\n

That is good news for traders hoping for a Fed rate cut sooner rather than later.\u00a0<\/span><\/p>\n

CME Group\u2019s FedWatch Tool still shows over 82% betting on no change at the March 20 Fed meeting with nearly 54% expecting the first rate cut at the May 1 meeting.\u00a0<\/span><\/p>\n

Pinterest Revenue, Outlook Disappoint<\/span><\/h2>\n

Pinterest <\/b>(PINS) shares are dropping 9.3% ahead of the open after reporting mixed Q4 results and issuing weak guidance.\u00a0<\/span><\/p>\n

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

    \n
  • Adjusted EPS: $0.53 vs $0.52 expected<\/span><\/li>\n
  • Revenue: $981.3 million vs $991 million expected<\/span><\/li>\n<\/ul>\n

    Revenue rose 12% year over year while global monthly active users rose 11% to an all-time high of 498 million.\u00a0<\/span><\/p>\n

    Pinterest forecast Q1 revenue between $690 million and $705 million vs $702 million expected.\u00a0<\/span><\/p>\n

    Affirm Drops After Earnings<\/span><\/h2>\n

    Affirm Holdings <\/b>(AFRM) shares are down 6.8% in premarket trade despite beating fiscal Q2 expectations.\u00a0<\/span><\/p>\n

    Here\u2019s how the buy-now pay-later company\u2019s results compared to analysts\u2019 estimates:\u00a0<\/span><\/p>\n

      \n
    • Loss per share: $0.54 vs $0.72 expected<\/span><\/li>\n
    • Revenue: $591.1 million vs $520.9 million expected<\/span><\/li>\n<\/ul>\n

      Revenue jumped 48% year over year.\u00a0<\/span><\/p>\n

      Gross merchandise volume increased for the third straight quarter, up 32% from a year ago to $7.5 billion.<\/span><\/p>\n

      Active consumers rose 13% to 17.6 million.\u00a0<\/span><\/p>\n

      Affirm forecast fiscal Q3 revenue between $530 million and $550 million vs $487.7 million expected.\u00a0<\/span><\/p>\n

      Pepsico Reports Mixed Results<\/span><\/h2>\n

      Pepsico <\/b>(PEP) shares are up 0.1% ahead of the open after reporting mixed Q4 results.\u00a0<\/span><\/p>\n

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

        \n
      • Adjusted EPS: $1.78 vs $1.72 expected<\/span><\/li>\n
      • Revenue: $27.85 billion vs $28.4 billion expected<\/span><\/li>\n<\/ul>\n

        Revenue was down less than 1% year over year, the first quarter since 2020 the company has seen an annual decline.\u00a0<\/span><\/p>\n

        Organic revenue rose 4.5%, boosted by higher prices.\u00a0<\/span><\/p>\n

        But those higher prices hit demand as sales volumes declined.\u00a0<\/span><\/p>\n

        Volume at Pepsi\u2019s North American Quaker Foods division dropped 8%, Frito-Lay North America posted a 2% volume decline, and the North American beverage unit saw sales volumes down 6%.<\/span><\/p>\n

        Pepsi forecast 2024 organic revenue growth of at least 4% vs its previous outlook on the high end of 4% to 6%.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

        DJIA Futures: +73 (+0.2%) SPX Futures: +14 (+0.3%) NASDAQ Futures: +66 (+0.4%) Good morning friends! Futures are rising after an encouraging revision to December\u2019s inflation data. Let\u2019s get right to it! December CPI Revised Lower The S&P 500 is poised to open above 5,000 this morning after briefly topping the historic milestone for the first time ever on Thursday.\u00a0 Futures are up across all the major indexes with all three on track for their fifth consecutive winning week.\u00a0 The government revised December\u2019s CPI print lower this morning to a 0.2% monthly gain vs 0.3% previously.\u00a0 The core CPI remained at a 0.3% monthly gain.\u00a0 The revisions are part of seasonal adjustments made by the Bureau of Labor Statistics but confirm inflation was cooler faster than previously thought at the end of 2023.\u00a0 That is good news for traders hoping for a Fed rate cut sooner rather than later.\u00a0 CME Group\u2019s FedWatch Tool still shows over 82% betting on no change at the March 20 Fed meeting with nearly 54% expecting the first rate cut at the May 1 meeting.\u00a0 Pinterest Revenue, Outlook Disappoint Pinterest (PINS) shares are dropping 9.3% ahead of the open after reporting mixed Q4 results and issuing weak guidance.\u00a0 Here\u2019s how the company\u2019s results compared to analysts\u2019 estimates:\u00a0 Adjusted EPS: $0.53 vs $0.52 expected Revenue: $981.3 million vs $991 million expected Revenue rose 12% year over year while global monthly active users rose 11% to an all-time high of 498 million.\u00a0 Pinterest forecast Q1 revenue between $690 million and $705 million vs $702 million expected.\u00a0 Affirm Drops After Earnings Affirm Holdings (AFRM) shares are down 6.8% in premarket trade despite beating fiscal Q2 expectations.\u00a0 Here\u2019s how the buy-now pay-later company\u2019s results compared to analysts\u2019 estimates:\u00a0 Loss per share: $0.54 vs $0.72 expected Revenue: $591.1 million vs $520.9 million expected Revenue jumped 48% year over year.\u00a0 Gross merchandise volume increased for the third straight quarter, up 32% from a year ago to $7.5 billion. Active consumers rose 13% to 17.6 million.\u00a0 Affirm forecast fiscal Q3 revenue between $530 million and $550 million vs $487.7 million expected.\u00a0 Pepsico Reports Mixed Results Pepsico (PEP) shares are up 0.1% ahead of the open after reporting mixed Q4 results.\u00a0 Here\u2019s how the beverage giant\u2019s results compared to analysts\u2019 estimates:\u00a0 Adjusted EPS: $1.78 vs $1.72 expected Revenue: $27.85 billion vs $28.4 billion expected Revenue was down less than 1% year over year, the first quarter since 2020 the company has seen an annual decline.\u00a0 Organic revenue rose 4.5%, boosted by higher prices.\u00a0 But those higher prices hit demand as sales volumes declined.\u00a0 Volume at Pepsi\u2019s North American Quaker Foods division dropped 8%, Frito-Lay North America posted a 2% volume decline, and the North American beverage unit saw sales volumes down 6%. Pepsi forecast 2024 organic revenue growth of at least 4% vs its previous outlook on the high end of 4% to 6%.<\/p>\n","protected":false},"author":41,"featured_media":73617,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-73613","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\/73613","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=73613"}],"version-history":[{"count":2,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/73613\/revisions"}],"predecessor-version":[{"id":73620,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/73613\/revisions\/73620"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/73617"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=73613"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=73613"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=73613"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}