{"id":74162,"date":"2024-03-27T09:14:47","date_gmt":"2024-03-27T13:14:47","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=74162"},"modified":"2024-03-27T09:14:47","modified_gmt":"2024-03-27T13:14:47","slug":"coffee-with-greta-can-we-break-the-losing-streak","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2024\/03\/27\/coffee-with-greta-can-we-break-the-losing-streak\/","title":{"rendered":"Coffee With Greta: Can We Break The Losing Streak?"},"content":{"rendered":"

DJIA Futures: <\/b>+170 (+0.4%)<\/span><\/p>\n

SPX Futures: <\/b>+25 (+0.5%)<\/span><\/p>\n

NASDAQ Futures: <\/b>+103 (+0.6%)<\/span><\/p>\n

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

Futures are higher as the <\/span>S&P 500 <\/b>attempts to shake off a three-session losing streak.\u00a0<\/span><\/p>\n

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

Three-Day Losing Streak<\/span><\/h2>\n

The <\/span>S&P 500 <\/b>has fallen from record highs over the past three sessions.\u00a0<\/span><\/p>\n

The blue-chip index closed 0.3% lower on Tuesday, marking its third down day in a row.\u00a0<\/span><\/p>\n

The major indexes are all still on track to end the month and quarter in the green.\u00a0<\/span><\/p>\n

So far this month the S&P 500 is up 2.1%, the <\/span>Nasdaq <\/b>is 1.4% higher, and the <\/span>Dow <\/b>is up 0.7%.\u00a0<\/span><\/p>\n

For the quarter, the S&P has rallied 9.1%, the Nasdaq is up 8.7%, and the Dow is 4.2% higher.\u00a0<\/span><\/p>\n

This is a shortened trading week, with the stock market closed in observance of Good Friday.\u00a0<\/span><\/p>\n

GameStop Plummets After Earnings<\/span><\/h2>\n

GameStop <\/b>(GME) shares are tumbling 16.2% ahead of the open after reporting a steep drop in Q4 revenue.\u00a0<\/span><\/p>\n

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

    \n
  • Adjusted EPS: $0.22 vs $0.30 expected<\/span><\/li>\n
  • Revenue: $1.79 billion vs $2.05 billion expected<\/span><\/li>\n<\/ul>\n

    Hardware and accessories sales dropped to $1.09 billion from $1.24 billion a year ago.\u00a0<\/span><\/p>\n

    Software sales plunged 31% to $465 million from $670 million.\u00a0<\/span><\/p>\n

    GameStop also said it cut an unspecified number of jobs throughout the quarter in order to cut costs.\u00a0<\/span><\/p>\n

    Mortgage Demand Stalls<\/span><\/h2>\n

    Mortgage demand was flat last week as high rates continue to put pressure on the spring housing market.\u00a0<\/span><\/p>\n

    The Mortgage Bankers Association reported total application volume fell 0.7%.\u00a0<\/span><\/p>\n

    Purchase applications decreased 0.2% weekly and 16% year over year.\u00a0<\/span><\/p>\n

    Refinance applications fell 2% weekly and 9% annually.\u00a0<\/span><\/p>\n

    The average 30-year fixed contract rate decreased to 6.93% from 6.97%.<\/span><\/p>\n

    Mortgage News Daily shows rates have pulled back slightly so far this week to 6.91%.\u00a0<\/span><\/p>\n

    In Case You Missed It<\/span><\/h2>\n
      \n
    • Consumer confidence fell to a four-month low in March. The Conference Board\u2019s consumer confidence index dipped to 104.7 this month from the revised 104.8 in February. That was lower than expectations for 106.5. Confidence in current economic conditions rose to 151 from 147.6. But the six-month expectations index dropped to 73.8 from 76.3. Readings below 80 in the expectations index typically signal an approaching recession.<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"

      DJIA Futures: +170 (+0.4%) SPX Futures: +25 (+0.5%) NASDAQ Futures: +103 (+0.6%) Good morning friends! Futures are higher as the S&P 500 attempts to shake off a three-session losing streak.\u00a0 Let\u2019s get right to it! Three-Day Losing Streak The S&P 500 has fallen from record highs over the past three sessions.\u00a0 The blue-chip index closed 0.3% lower on Tuesday, marking its third down day in a row.\u00a0 The major indexes are all still on track to end the month and quarter in the green.\u00a0 So far this month the S&P 500 is up 2.1%, the Nasdaq is 1.4% higher, and the Dow is up 0.7%.\u00a0 For the quarter, the S&P has rallied 9.1%, the Nasdaq is up 8.7%, and the Dow is 4.2% higher.\u00a0 This is a shortened trading week, with the stock market closed in observance of Good Friday.\u00a0 GameStop Plummets After Earnings GameStop (GME) shares are tumbling 16.2% ahead of the open after reporting a steep drop in Q4 revenue.\u00a0 Here\u2019s how the video game retailer\u2019s results compared to analysts\u2019 estimates:\u00a0 Adjusted EPS: $0.22 vs $0.30 expected Revenue: $1.79 billion vs $2.05 billion expected Hardware and accessories sales dropped to $1.09 billion from $1.24 billion a year ago.\u00a0 Software sales plunged 31% to $465 million from $670 million.\u00a0 GameStop also said it cut an unspecified number of jobs throughout the quarter in order to cut costs.\u00a0 Mortgage Demand Stalls Mortgage demand was flat last week as high rates continue to put pressure on the spring housing market.\u00a0 The Mortgage Bankers Association reported total application volume fell 0.7%.\u00a0 Purchase applications decreased 0.2% weekly and 16% year over year.\u00a0 Refinance applications fell 2% weekly and 9% annually.\u00a0 The average 30-year fixed contract rate decreased to 6.93% from 6.97%. Mortgage News Daily shows rates have pulled back slightly so far this week to 6.91%.\u00a0 In Case You Missed It Consumer confidence fell to a four-month low in March. The Conference Board\u2019s consumer confidence index dipped to 104.7 this month from the revised 104.8 in February. That was lower than expectations for 106.5. Confidence in current economic conditions rose to 151 from 147.6. But the six-month expectations index dropped to 73.8 from 76.3. Readings below 80 in the expectations index typically signal an approaching recession.<\/p>\n","protected":false},"author":41,"featured_media":74165,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-74162","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\/74162","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=74162"}],"version-history":[{"count":1,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/74162\/revisions"}],"predecessor-version":[{"id":74168,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/74162\/revisions\/74168"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/74165"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=74162"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=74162"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=74162"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}