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Coffee With Greta: CPI Cools, Futures Surge


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DJIA Futures: +309 (+0.9%)

SPX Futures: +52 (+1.2%)

NASDAQ Futures: +241 (+1.6%)

Good morning friends!

Futures are surging and yields are tumbling after the release of cooler-than-expected inflation data.

Let’s get right to it!

CPI Falls Flat

U.S. inflation pressures were flat in October. 

The Bureau of Labor Statistics’ consumer price index was unchanged monthly and up 3.2% year over year. 

That was better than expectations for a 0.1% monthly and 3.3 annual gain.

Gas prices saw the largest drop last month, down 5% from September. 

Used car prices fell 0.8% monthly, grocery prices rose 0.3%, and shelter prices rose 0.3%.

Excluding volatile gas and food prices, the core CPI rose 0.2% monthly and 4% annually vs 0.3% monthly and 4.1% annually expected.

Home Depot Rises On Earnings Beat

Home Depot (HD) shares are up 1.5% ahead of the open after beating Q3 expectations on the top and bottom line. 

Here’s how the home improvement retailer’s results compared to analysts’ estimates: 

  • EPS: $3.81 vs $3.76 expected
  • Revenue: $37.71 billion vs $37.6 billion expected

Comparable sales fell 3.1% year over year, better than the 3.6% drop expected by analysts. 

There were 399.8 million customer transactions during the quarter, down from 409.8 million a year ago. 

Home Depot narrowed its full-year outlook.

The retailer now expects full-year sales to fall by 3% to 4% year over year vs 2% to 5% previously, EPS is expected to slide by 9% to 11% vs 7% to 13% previously.

Fisker Plunges After Q3 Miss

Fisker (FSR) shares are tumbling 16.3% in premarket trade after reporting a wider than expected loss in the third quarter. 

Here’s how the electric vehicle startup’s results compared to analysts’ estimates: 

  • Loss per share $0.27 vs $0.19 expected
  • Revenue: $71.8 million vs $109 million expected

Fisker said it had $625 million in cash and cash equivalents on hand at the end of Q3, up from $521.8 million in Q2. 

The company said its manufacturing partner built 4,725 Ocean electric SUVs during the quarter and delivered 1,097 to customers. 

That was up from the 1,022 produced in Q2.

Fisker says deliveries have accelerated since then with more than 1,200 Oceans delivered in October.

The CEO said, “We are rapidly scaling our delivery infrastructure to support even higher volumes of deliveries of our class-leading product to our loyal customers. We are gaining momentum and delivered more units in the month of October than in all of the third quarter.”

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