{"id":73911,"date":"2024-03-05T09:08:02","date_gmt":"2024-03-05T14:08:02","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=73911"},"modified":"2024-03-05T09:08:02","modified_gmt":"2024-03-05T14:08:02","slug":"coffee-with-greta-tech-pullback","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2024\/03\/05\/coffee-with-greta-tech-pullback\/","title":{"rendered":"Coffee With Greta: Tech Pullback"},"content":{"rendered":"

DJIA Futures: <\/b>-142 (-0.4%)<\/span><\/p>\n

SPX Futures: <\/b>-21 (-0.4%)<\/span><\/p>\n

NASDAQ Futures: <\/b>-123 (-0.7%)<\/span><\/p>\n

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

Futures are slipping as traders await key data this week.<\/span><\/p>\n

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

Tech Pullback<\/span><\/h2>\n

Stocks are falling this morning, continuing Monday\u2019s\u00a0 decline that pulled the <\/span>Nasdaq <\/b>back from record highs.\u00a0<\/span><\/p>\n

The tech-heavy index slipped 0.4% on Monday while the <\/span>S&P 500 <\/b>fell 0.12% and the <\/span>Dow <\/b>dropped 0.25%.\u00a0<\/span><\/p>\n

Both the S&P and Nasdaq were in record territory ahead of Monday\u2019s drop.\u00a0<\/span><\/p>\n

The drop in tech stocks came even as major AI leaders rallied with <\/span>Nvidia <\/b>(NVDA) rising 3% and <\/span>Super Micro Computer <\/b>(SMCI) surging 18%.<\/span><\/p>\n

Traders are awaiting key events this week with the Fed Chair set to testify in Congress and new labor market data beginning on Wednesday.<\/span><\/p>\n

AMD\u2019s China Chips Blocked<\/span><\/h2>\n

Advanced Micro Devices <\/b>(AMD) shares are falling 2.2% ahead of the open after hitting a regulatory roadblock for its AI chip made for China.\u00a0<\/span><\/p>\n

Bloomberg reported the company will need to apply for an export license for the new chip.\u00a0<\/span><\/p>\n

AMD designed the chip to have lower performance than its premium products.\u00a0<\/span><\/p>\n

But the Commerce Department did not clear it for sale in China, saying it was still too advanced.\u00a0<\/span><\/p>\n

The U.S. has restricted sales of the most advanced semiconductor technologies to China, citing national security concerns.\u00a0<\/span><\/p>\n

The restrictions have also impacted <\/span>Nvidia\u2019s <\/b>(NVDA) sales in China.<\/span><\/p>\n

Target Surges After Earnings<\/span><\/h2>\n

Target <\/b>(TGT) shares are rallying 9.3% in premarket trade after beating Q4 expectations on the top and bottom line.\u00a0<\/span><\/p>\n

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

    \n
  • EPS: $2.98 vs $2.42 expected<\/span><\/li>\n
  • Revenue: $31.92 billion vs $31.83 billion expected<\/span><\/li>\n<\/ul>\n

    Comparable sales declined 4.4% year over year, dropping for the third quarter in a row.\u00a0<\/span><\/p>\n

    The company expects that trend to continue.\u00a0<\/span><\/p>\n

    Target forecast Q1 adjusted EPS between $1.70 and $2.10 with comparable sales expected to decline between 3% and 5%.\u00a0<\/span><\/p>\n

    The retailer expects full-year comparable sales to be flat to up to 2% and adjusted EPS between $8.60 and $9.60.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

    DJIA Futures: -142 (-0.4%) SPX Futures: -21 (-0.4%) NASDAQ Futures: -123 (-0.7%) Good morning friends! Futures are slipping as traders await key data this week. Let\u2019s get right to it! Tech Pullback Stocks are falling this morning, continuing Monday\u2019s\u00a0 decline that pulled the Nasdaq back from record highs.\u00a0 The tech-heavy index slipped 0.4% on Monday while the S&P 500 fell 0.12% and the Dow dropped 0.25%.\u00a0 Both the S&P and Nasdaq were in record territory ahead of Monday\u2019s drop.\u00a0 The drop in tech stocks came even as major AI leaders rallied with Nvidia (NVDA) rising 3% and Super Micro Computer (SMCI) surging 18%. Traders are awaiting key events this week with the Fed Chair set to testify in Congress and new labor market data beginning on Wednesday. AMD\u2019s China Chips Blocked Advanced Micro Devices (AMD) shares are falling 2.2% ahead of the open after hitting a regulatory roadblock for its AI chip made for China.\u00a0 Bloomberg reported the company will need to apply for an export license for the new chip.\u00a0 AMD designed the chip to have lower performance than its premium products.\u00a0 But the Commerce Department did not clear it for sale in China, saying it was still too advanced.\u00a0 The U.S. has restricted sales of the most advanced semiconductor technologies to China, citing national security concerns.\u00a0 The restrictions have also impacted Nvidia\u2019s (NVDA) sales in China. Target Surges After Earnings Target (TGT) shares are rallying 9.3% in premarket trade after beating Q4 expectations on the top and bottom line.\u00a0 Here\u2019s how the retailer\u2019s results compared to analysts\u2019 estimates: EPS: $2.98 vs $2.42 expected Revenue: $31.92 billion vs $31.83 billion expected Comparable sales declined 4.4% year over year, dropping for the third quarter in a row.\u00a0 The company expects that trend to continue.\u00a0 Target forecast Q1 adjusted EPS between $1.70 and $2.10 with comparable sales expected to decline between 3% and 5%.\u00a0 The retailer expects full-year comparable sales to be flat to up to 2% and adjusted EPS between $8.60 and $9.60.\u00a0<\/p>\n","protected":false},"author":41,"featured_media":73922,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-73911","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\/73911","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=73911"}],"version-history":[{"count":2,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/73911\/revisions"}],"predecessor-version":[{"id":73924,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/73911\/revisions\/73924"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/73922"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=73911"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=73911"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=73911"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}