{"id":74019,"date":"2024-03-14T09:10:50","date_gmt":"2024-03-14T13:10:50","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=74019"},"modified":"2024-03-14T09:10:50","modified_gmt":"2024-03-14T13:10:50","slug":"coffee-with-greta-higher-prices-weaker-spending","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2024\/03\/14\/coffee-with-greta-higher-prices-weaker-spending\/","title":{"rendered":"Coffee With Greta: Higher Prices, Weaker Spending"},"content":{"rendered":"

DJIA Futures: <\/b>+113 (+0.3%)<\/span><\/p>\n

SPX Futures: <\/b>+9 (+0.2%)<\/span><\/p>\n

NASDAQ Futures: <\/b>+43 (+0.2%)<\/span><\/p>\n

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

Futures are higher as traders digest mixed economic data with hot inflation but weaker than expected retail sales.<\/span><\/p>\n

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

Wholesale Inflation Runs Hot<\/span><\/h2>\n

Wholesale inflation pressures were hotter than expected in February.\u00a0<\/span><\/p>\n

The Bureau of Labor Statistics\u2019 producer price index rose 0.6% monthly and 1.6% year over year.\u00a0<\/span><\/p>\n

That was higher than expectations for a 0.3% monthly and 1.2% annual gain.<\/span><\/p>\n

It was the hottest annual headline number since September 2023.\u00a0<\/span><\/p>\n

The core PPI, which excludes food and energy costs, rose 0.3% monthly and 2.0% annually vs 0.2% monthly and 1.9% annually expected.\u00a0<\/span><\/p>\n

About two-thirds of the increase was due to a 1.2% surge in goods prices, the largest increase since August, as gas prices jumped 6.8%.\u00a0<\/span><\/p>\n

Services costs increased 0.3%.\u00a0<\/span><\/p>\n

February Retail Sales Come In Short<\/span><\/h2>\n

Retail sales were weaker than expected last month.\u00a0<\/span><\/p>\n

The Commerce Department reported consumer spending rose 0.6% in February to $700.7 billion.\u00a0<\/span><\/p>\n

That was weaker than economists\u2019 expectations for a 0.7% increase but a rebound from the 1.1% decrease in January.\u00a0<\/span><\/p>\n

The largest increase was at building material stores where sales jumped 2.2%.\u00a0<\/span><\/p>\n

Sales at car dealerships rose 1.8%, increased 1.5% at electronics and appliance stores,\u00a0 and rose 0.9% at gas stations.\u00a0<\/span><\/p>\n

Furniture stores saw sales fall 1.1%, while sales at clothing retailers were down 0.5%, and 0.2% lower at department stores.\u00a0<\/span><\/p>\n

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

Weekly jobless claims fell unexpectedly last week as the labor market maintains strength.\u00a0<\/span><\/p>\n

The Labor Department reported 209,000 Americans filed initial claims for unemployment benefits last week.\u00a0<\/span><\/p>\n

That was down by 1,000 from the previous week and lower than 218,000 expected.\u00a0<\/span><\/p>\n

Continuing claims rose by 17,000 to 1.811 million vs 1.9 million expected in the week ending March 2.\u00a0<\/span><\/p>\n

Dollar General Pops On Earnings Beat, Strong Outlook<\/span><\/h2>\n

Dollar General <\/b>(DG) shares are up 4.9% ahead of the open after beating Q4 expectations and issuing strong guidance.\u00a0<\/span><\/p>\n

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

    \n
  • EPS: $1.83 vs $1.73 expected<\/span><\/li>\n
  • Revenue: $9.86 billion vs $9.77 billion expected<\/span><\/li>\n<\/ul>\n

    Same-store sales increased 0.7% year over year vs expectations for a 1% decline.\u00a0<\/span><\/p>\n

    Dollar General forecast Q1 EPS between $1.50 and $1.60 vs $1.88 expected.\u00a0<\/span><\/p>\n

    The company said it expects same-store sales to rise between 1.5% to 2% vs expectations for a 0.3% increase.\u00a0<\/span><\/p>\n

    For the full fiscal year, Dollar General forecast EPS between $6.80 and $7.55 vs $7.42 expected.\u00a0<\/span><\/p>\n

    The company sees full-year sales growth of 6% to 6.7% vs 4.4% growth expected.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

    DJIA Futures: +113 (+0.3%) SPX Futures: +9 (+0.2%) NASDAQ Futures: +43 (+0.2%) Good morning friends! Futures are higher as traders digest mixed economic data with hot inflation but weaker than expected retail sales. Let\u2019s get right to it! Wholesale Inflation Runs Hot Wholesale inflation pressures were hotter than expected in February.\u00a0 The Bureau of Labor Statistics\u2019 producer price index rose 0.6% monthly and 1.6% year over year.\u00a0 That was higher than expectations for a 0.3% monthly and 1.2% annual gain. It was the hottest annual headline number since September 2023.\u00a0 The core PPI, which excludes food and energy costs, rose 0.3% monthly and 2.0% annually vs 0.2% monthly and 1.9% annually expected.\u00a0 About two-thirds of the increase was due to a 1.2% surge in goods prices, the largest increase since August, as gas prices jumped 6.8%.\u00a0 Services costs increased 0.3%.\u00a0 February Retail Sales Come In Short Retail sales were weaker than expected last month.\u00a0 The Commerce Department reported consumer spending rose 0.6% in February to $700.7 billion.\u00a0 That was weaker than economists\u2019 expectations for a 0.7% increase but a rebound from the 1.1% decrease in January.\u00a0 The largest increase was at building material stores where sales jumped 2.2%.\u00a0 Sales at car dealerships rose 1.8%, increased 1.5% at electronics and appliance stores,\u00a0 and rose 0.9% at gas stations.\u00a0 Furniture stores saw sales fall 1.1%, while sales at clothing retailers were down 0.5%, and 0.2% lower at department stores.\u00a0 Weekly Jobless Claims Fall Weekly jobless claims fell unexpectedly last week as the labor market maintains strength.\u00a0 The Labor Department reported 209,000 Americans filed initial claims for unemployment benefits last week.\u00a0 That was down by 1,000 from the previous week and lower than 218,000 expected.\u00a0 Continuing claims rose by 17,000 to 1.811 million vs 1.9 million expected in the week ending March 2.\u00a0 Dollar General Pops On Earnings Beat, Strong Outlook Dollar General (DG) shares are up 4.9% ahead of the open after beating Q4 expectations and issuing strong guidance.\u00a0 Here\u2019s how the discount retailer\u2019s results compared to analysts\u2019 estimates:\u00a0 EPS: $1.83 vs $1.73 expected Revenue: $9.86 billion vs $9.77 billion expected Same-store sales increased 0.7% year over year vs expectations for a 1% decline.\u00a0 Dollar General forecast Q1 EPS between $1.50 and $1.60 vs $1.88 expected.\u00a0 The company said it expects same-store sales to rise between 1.5% to 2% vs expectations for a 0.3% increase.\u00a0 For the full fiscal year, Dollar General forecast EPS between $6.80 and $7.55 vs $7.42 expected.\u00a0 The company sees full-year sales growth of 6% to 6.7% vs 4.4% growth expected.<\/p>\n","protected":false},"author":41,"featured_media":74029,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-74019","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\/74019","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=74019"}],"version-history":[{"count":2,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/74019\/revisions"}],"predecessor-version":[{"id":74030,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/74019\/revisions\/74030"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/74029"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=74019"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=74019"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=74019"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}