Jack Ma sticks to his goals by repeating 3 questions to himself

The ability to stay the course can make or break a business — and that’s something that self-made billionaire Jack Ma knows well. Under his watch, the company grew into a major tech juggernaut to make Ma one of the richest men in China. One of the top reasons why those companies fail, according to CB Insights, is a loss of focus. Speaking at the annual meetings of the International Monetary Fund and the World Bank, Ma shared how he remains focused in his pursuit of success. “Whether young people


The ability to stay the course can make or break a business — and that’s something that self-made billionaire Jack Ma knows well. Under his watch, the company grew into a major tech juggernaut to make Ma one of the richest men in China. One of the top reasons why those companies fail, according to CB Insights, is a loss of focus. Speaking at the annual meetings of the International Monetary Fund and the World Bank, Ma shared how he remains focused in his pursuit of success. “Whether young people
Jack Ma sticks to his goals by repeating 3 questions to himself Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-23  Authors: yen nee lee, wang he, getty images, -jack ma, co-founder of alibaba
Keywords: news, cnbc, companies, ma, jack, ask, cb, billionaire, willing, goals, repeating, questions, world, according, young, sticks, fail


Jack Ma sticks to his goals by repeating 3 questions to himself

The ability to stay the course can make or break a business — and that’s something that self-made billionaire Jack Ma knows well.

The iconic entrepreneur has led Alibaba since its inception in 1999. Under his watch, the company grew into a major tech juggernaut to make Ma one of the richest men in China.

Ma’s track record comes at a time when statistics point to a sobering reality about the survival rate of young businesses: 70 percent of start-ups fail around 20 months after raising their first funding, according to an August report by research firm CB Insights.

One of the top reasons why those companies fail, according to CB Insights, is a loss of focus.

Speaking at the annual meetings of the International Monetary Fund and the World Bank, Ma shared how he remains focused in his pursuit of success.

“Whether young people, old people, ask three questions,” the billionaire told a packed conference hall in Bali, Indonesia.

“I keep asking myself these three questions,” he said. “What do you have? What do you want? What will you give up?”

Many people usually fail to ask themselves what they are willing to give up because they tend to think they don’t have much to start with, Ma said.


Company: cnbc, Activity: cnbc, Date: 2018-10-23  Authors: yen nee lee, wang he, getty images, -jack ma, co-founder of alibaba
Keywords: news, cnbc, companies, ma, jack, ask, cb, billionaire, willing, goals, repeating, questions, world, according, young, sticks, fail


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Wall Street set for a slightly higher open amid earnings

U.S. stocks were set to open slightly higher on Monday morning as investors turned focus away from fears of rising rates to the latest batch of corporate earnings. ET, Dow futures were seen climbing 80 points, and indicated an almost 77 point rise at the open, while the S&P 500 and the Nasdaq were also expected to open in the black. Markets rebounded on Friday from a sharp sell-off in the previous session, with traders mostly switching their attention to the third-quarter earnings season. Beats


U.S. stocks were set to open slightly higher on Monday morning as investors turned focus away from fears of rising rates to the latest batch of corporate earnings. ET, Dow futures were seen climbing 80 points, and indicated an almost 77 point rise at the open, while the S&P 500 and the Nasdaq were also expected to open in the black. Markets rebounded on Friday from a sharp sell-off in the previous session, with traders mostly switching their attention to the third-quarter earnings season. Beats
Wall Street set for a slightly higher open amid earnings Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-22  Authors: ryan browne
Keywords: news, cnbc, companies, thirdquarter, amid, higher, vehicle, switching, trading, slightly, wall, et, activity, open, set, toy, turned, earnings, traders, street


Wall Street set for a slightly higher open amid earnings

U.S. stocks were set to open slightly higher on Monday morning as investors turned focus away from fears of rising rates to the latest batch of corporate earnings.

At around 4:30 a.m. ET, Dow futures were seen climbing 80 points, and indicated an almost 77 point rise at the open, while the S&P 500 and the Nasdaq were also expected to open in the black.

Markets rebounded on Friday from a sharp sell-off in the previous session, with traders mostly switching their attention to the third-quarter earnings season. Beats from Procter & Gamble, Honeywell and Schlumberger buoyed trading activity that day.

Energy management firm Halliburton, toy maker Hasbro, personal care company Kimberly-Clark and offroad vehicle manufacturer Polaris Industries will post their respective financial results before the bell on Monday.

In economic data, the Chicago Federal Reserve will release national activity index figures at 8:30 a.m. ET.


Company: cnbc, Activity: cnbc, Date: 2018-10-22  Authors: ryan browne
Keywords: news, cnbc, companies, thirdquarter, amid, higher, vehicle, switching, trading, slightly, wall, et, activity, open, set, toy, turned, earnings, traders, street


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Gold inches up on easing dollar, global concerns

Gold prices edged higher on Monday towards a 2-1/2-month peak hit last week as the dollar eased and worries over rising political tensions and slowing global economic growth lent support to the metal. One is global economic slowdown, another is geopolitical uncertainties,” said Argonaut Securities analyst Helen Lau. Gold is seen as a safe store of value during political and economic uncertainty. “Supportive price action around $1,210-$1,220 should restrict declines amid current global political


Gold prices edged higher on Monday towards a 2-1/2-month peak hit last week as the dollar eased and worries over rising political tensions and slowing global economic growth lent support to the metal. One is global economic slowdown, another is geopolitical uncertainties,” said Argonaut Securities analyst Helen Lau. Gold is seen as a safe store of value during political and economic uncertainty. “Supportive price action around $1,210-$1,220 should restrict declines amid current global political
Gold inches up on easing dollar, global concerns Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-22
Keywords: news, cnbc, companies, economic, week, gold, easing, concerns, support, political, inches, contracts, tensions, global, ounce, oct, dollar


Gold inches up on easing dollar, global concerns

Gold prices edged higher on Monday towards a 2-1/2-month peak hit last week as the dollar eased and worries over rising political tensions and slowing global economic growth lent support to the metal.

Spot gold was up 0.1 percent at $1,226.43 an ounce at 0745 GMT. On Oct. 15, the bullion touched its highest since July 26 at $1,233.26.

U.S. gold futures were up 0.1 percent at $1,229.40 an ounce.

“So far we are seeing a good recipe for gold prices to recover. One is global economic slowdown, another is geopolitical uncertainties,” said Argonaut Securities analyst Helen Lau. “If the tensions loom large we could see gold rebound through 1,300.”

The outlook for global growth in 2019 has dimmed for the first time, according to Reuters polls of economists who said the U.S.-China trade war and tightening financial conditions would trigger the next downturn.

Geo-political concerns including tensions between Saudi Arabia and the West over the killing of journalist Jamal Khashoggi, developments related to Brexit, and Italy’s budget woes are keeping investors interested in gold, analysts said.

Gold is seen as a safe store of value during political and economic uncertainty.

“Trade concerns between the U.S. and China remain elevated and the ongoing U.S.-Saudi tensions are likely to continue to underpin a bid tone for bullion over the near-term,” MKS PAMP Group traders said in a note.

“Supportive price action around $1,210-$1,220 should restrict declines amid current global political uncertainty, while a test through $1,230-$1,235 will likely squeeze further shorts out of the market and see gold toward $1,250.”

Gold speculators cut their net short position in COMEX gold contracts by 65,637 contracts to 37,372 contracts, the smallest since late July, in the week to Oct. 16, data showed.

Spot gold may either consolidate further below a resistance at $1,235 per ounce, or break a support at $1,217, to fall to the next support at $1,208, according to Reuters technical analyst Wang Tao.

Holdings in the world’s largest gold-backed exchange-traded fund, SPDR Gold Trust, fell 0.39 percent to 745.82 tonnes on Friday.

The U.S. dollar, which measures the greenback against a basket of six major currencies, was down 0.2 percent.

Among other precious metals, silver was up 0.4 percent at $14.65 per ounce, while platinum rose 0.8 percent at $836.20 per ounce.

Palladium climbed 0.9 percent to $1,089.80 per ounce, closer to an over eight-month peak of $1,096.80 hit on Oct. 11.


Company: cnbc, Activity: cnbc, Date: 2018-10-22
Keywords: news, cnbc, companies, economic, week, gold, easing, concerns, support, political, inches, contracts, tensions, global, ounce, oct, dollar


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Saudi Arabia says it has ‘no intention’ of using oil as a political weapon amid Khashoggi crisis

OPEC kingpin Saudi Arabia does not wish to impose a 1973-style oil embargo on Western consumers, the country’s energy minister reportedly said Monday, amid a deepening crisis over the killing of journalist Jamal Khashoggi. It comes as the world’s top oil exporter faces intensifying international pressure to explain exactly what happened to Khashoggi at a Turkish consulate earlier this month. Turkish authorities claim Khashoggi was murdered by a team of Saudi agents inside the consulate and say t


OPEC kingpin Saudi Arabia does not wish to impose a 1973-style oil embargo on Western consumers, the country’s energy minister reportedly said Monday, amid a deepening crisis over the killing of journalist Jamal Khashoggi. It comes as the world’s top oil exporter faces intensifying international pressure to explain exactly what happened to Khashoggi at a Turkish consulate earlier this month. Turkish authorities claim Khashoggi was murdered by a team of Saudi agents inside the consulate and say t
Saudi Arabia says it has ‘no intention’ of using oil as a political weapon amid Khashoggi crisis Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-22  Authors: sam meredith, anton novoderezhkin, tass via getty images, elif ozturk, anadolu agency, getty images
Keywords: news, cnbc, companies, crisis, amid, embargo, consulate, using, political, weapon, opec, comes, oil, intention, left, israel, journalist, arabia, saudi, khashoggi


Saudi Arabia says it has 'no intention' of using oil as a political weapon amid Khashoggi crisis

OPEC kingpin Saudi Arabia does not wish to impose a 1973-style oil embargo on Western consumers, the country’s energy minister reportedly said Monday, amid a deepening crisis over the killing of journalist Jamal Khashoggi.

It comes as the world’s top oil exporter faces intensifying international pressure to explain exactly what happened to Khashoggi at a Turkish consulate earlier this month.

On Friday, the kingdom admitted for the first time that Khashoggi — a prominent critic of Saudi leaders and former Washington Post journalist — had been killed. The statement comes after Riyadh initially said he had left the building unharmed on October 2.

Turkish authorities claim Khashoggi was murdered by a team of Saudi agents inside the consulate and say they have evidence to prove it.

Saudi Crown Prince Mohammed bin Salman has denied any involvement.

“There is no intention,” Khalid al-Falih told Russia’s TASS news agency when asked whether there could be a replay of the 1973-style oil embargo.

The 1973 oil embargo refers to an extraordinary move by Arab OPEC members to stranglehold oil markets. It was imposed on countries supporting Israel during that year’s Yom Kippur war between Israel and several Arab states. As a result, the U.S was left with a crude shortage and oil prices quadrupled.


Company: cnbc, Activity: cnbc, Date: 2018-10-22  Authors: sam meredith, anton novoderezhkin, tass via getty images, elif ozturk, anadolu agency, getty images
Keywords: news, cnbc, companies, crisis, amid, embargo, consulate, using, political, weapon, opec, comes, oil, intention, left, israel, journalist, arabia, saudi, khashoggi


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Euro rallies as Italian borrowing costs enjoy big drop

The euro rallied on Monday as a fall in Italian government borrowing costs after their recent surge introduced some calm into the market, while the promise of more Chinese stimulus helped offset broader political worries. Rating agency Moody’s downgraded the Italian government’s credit rating on Friday but unexpectedly kept the outlook at stable. The euro has often fallen this year when Italian government bond yields have spiked higher. The euro was also 0.2 percent higher at 1.1487 Swiss francs


The euro rallied on Monday as a fall in Italian government borrowing costs after their recent surge introduced some calm into the market, while the promise of more Chinese stimulus helped offset broader political worries. Rating agency Moody’s downgraded the Italian government’s credit rating on Friday but unexpectedly kept the outlook at stable. The euro has often fallen this year when Italian government bond yields have spiked higher. The euro was also 0.2 percent higher at 1.1487 Swiss francs
Euro rallies as Italian borrowing costs enjoy big drop Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-22
Keywords: news, cnbc, companies, versus, costs, strategist, rallies, yen, euro, italian, enjoy, currency, risk, drop, recent, 02, big, borrowing, dollar


Euro rallies as Italian borrowing costs enjoy big drop

The euro rallied on Monday as a fall in Italian government borrowing costs after their recent surge introduced some calm into the market, while the promise of more Chinese stimulus helped offset broader political worries.

Rating agency Moody’s downgraded the Italian government’s credit rating on Friday but unexpectedly kept the outlook at stable.

That, together with comments by Deputy Prime Minister Luigi Di Maio that the government was ready to sit down with the European Union amid the ongoing row over Rome’s budget, boosted demand for Italian debt after a sharp selloff in recent weeks.

The euro has often fallen this year when Italian government bond yields have spiked higher.

The single currency rose 0.3 percent to $1.1550, hitting the day’s high and away from recent lows of $1.1433.

The dollar index dropped 0.3 percent to 95.472.

The euro was also 0.2 percent higher at 1.1487 Swiss francs, and gained 0.2 percent versus sterling to 88.26 pence.

Despite the euro’s rally, analysts said it remained at the mercy of Italian developments, with a great deal of uncertainty ahead.

“…A full diary of risk events over the next two weeks and little to argue in favour of support from the ECB (European Central Bank) in the near future, the question remains over how far the yield gap can blow out and how this could translate back into the FX market,” said Simon Derrick, chief currency strategist at BNY Mellon.

Equity markets were largely in positive territory as hopes that China’s tax cuts next year could be worth more than one percent of gross domestic product sparked a rally in Asian shares that fed across to Europe.

That helped offset geopolitical concerns about the rift between Saudi Arabia and the West over the killing of a prominent critic of the kingdom, as well as worries about Britain securing an exit deal with the EU.

Forex markets were largely quiet, although the more positive tone at the start of the week did buoy sentiment.

For the dollar, a hawkish Federal Reserve and signs of continued strength in the U.S. economy remain key drivers.

“Markets will be closely watching the release of the U.S. advance GDP number on Friday for more clarity on the direction of the U.S. dollar,” said Sim Moh Siong, currency strategist at Bank of Singapore.

The dollar rose versus the Japanese yen. The yen fetched 112.71, down 0.2 percent on the day and off a one-month high of 111.61 touched on Oct. 15.

The yen had benefited from rising risk around Brexit, the Italy budget plan and trade tensions, because investors tend to buy the Japanese currency when they are nervous.

The Canadian dollar changed hands at 1.3080 on its U.S. counterpart, within striking distance of a five-week low of 1.3132 hit on Friday on the back of weaker inflation and retail sales.

The Australian dollar, often considered a barometer for global risk appetite, traded at $0.7122, flat on the day.


Company: cnbc, Activity: cnbc, Date: 2018-10-22
Keywords: news, cnbc, companies, versus, costs, strategist, rallies, yen, euro, italian, enjoy, currency, risk, drop, recent, 02, big, borrowing, dollar


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European markets higher on earnings; Ryanair up 3%; Fiat jumps 7%

Looking across the European benchmark, Fiat led the gains up by more than 7 percent. Market focus was mostly on corporate earnings with several big stocks announcing their latest results. Shares of Ryanair rose 3 percent despite reporting lower-than-expected profits in the second quarter of its fiscal year. Italian stocks saw a relief rally Monday morning after a ratings downgrade by Moody’s was relatively benign. Shares in Italian banks rose and yields on Italian debt dropped after Moody’s down


Looking across the European benchmark, Fiat led the gains up by more than 7 percent. Market focus was mostly on corporate earnings with several big stocks announcing their latest results. Shares of Ryanair rose 3 percent despite reporting lower-than-expected profits in the second quarter of its fiscal year. Italian stocks saw a relief rally Monday morning after a ratings downgrade by Moody’s was relatively benign. Shares in Italian banks rose and yields on Italian debt dropped after Moody’s down
European markets higher on earnings; Ryanair up 3%; Fiat jumps 7% Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-22  Authors: silvia amaro
Keywords: news, cnbc, companies, latest, followed, higher, markets, jumps, fiat, italy, italian, rose, moodys, european, earnings, stocks, shares, ryanair, reported


European markets higher on earnings; Ryanair up 3%; Fiat jumps 7%

The pan-European Stoxx 600 rose 0.7 percent in early deals with most sectors trading in positive territory. Autos, banks and tech stocks were the top performers, up by more than 1 percent.

Looking across the European benchmark, Fiat led the gains up by more than 7 percent. This followed news that the company had agreed to sell its Magneti Marelli unit to a Japanese company for $7.1 billion, Reuters reported. At the other end was Philips, the stock down by more than 5 percent, after missing analysts’ expectations with its third-quarter results.

Market focus was mostly on corporate earnings with several big stocks announcing their latest results. Shares of Ryanair rose 3 percent despite reporting lower-than-expected profits in the second quarter of its fiscal year. The airline also announced significant progress with employees to prevent further strikes and investments to ensure on-time departures.

Italian stocks saw a relief rally Monday morning after a ratings downgrade by Moody’s was relatively benign. Shares in Italian banks rose and yields on Italian debt dropped after Moody’s downgraded Italy by one notch, as expected, and gave a “stable” outlook to its sovereignty. UniCredit rose 3 percent. Italy is reportedly expecting the European Commission to reject its draft budget on Tuesday and ask for a new draft budget, given the planned increase in public spending, Reuters reported citing a government source.

On Monday, Prime Minister Theresa May is due to address the House of Commons to debrief it on the latest Brexit developments. She is likely to tell lawmakers that 95 percent of the Withdrawal Agreement is ready.

In Asia, Chinese stocks rallied as much as 4 percent on the back of news that authorities took steps to support the market. This followed weaker growth figures out last week.


Company: cnbc, Activity: cnbc, Date: 2018-10-22  Authors: silvia amaro
Keywords: news, cnbc, companies, latest, followed, higher, markets, jumps, fiat, italy, italian, rose, moodys, european, earnings, stocks, shares, ryanair, reported


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Don’t believe the doves: US trade disputes are likely to escalate after the midterms

Instead of opting for a combination of quick results and a negotiating process seeking longer-term structural policy changes, Washington has chosen a path of litigation and imposition of reforms that China and the EU find unacceptable. Germans, to be fair, were ready for concessions and actively seeking ways to initiate that process. China, for its part, had a standing negotiating platform — “a win-win cooperation” — that could have served as a starting point. Some observers now see a silver lin


Instead of opting for a combination of quick results and a negotiating process seeking longer-term structural policy changes, Washington has chosen a path of litigation and imposition of reforms that China and the EU find unacceptable. Germans, to be fair, were ready for concessions and actively seeking ways to initiate that process. China, for its part, had a standing negotiating platform — “a win-win cooperation” — that could have served as a starting point. Some observers now see a silver lin
Don’t believe the doves: US trade disputes are likely to escalate after the midterms Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-22  Authors: dr michael ivanovitch, afp, getty images
Keywords: news, cnbc, companies, chinese, trillion, trade, escalate, dont, disputes, doves, believe, process, midterms, negotiating, second, washington, china, seeking, net, likely


Don't believe the doves: US trade disputes are likely to escalate after the midterms

What can the U.S. do now? The answer is: Not much. Instead of opting for a combination of quick results and a negotiating process seeking longer-term structural policy changes, Washington has chosen a path of litigation and imposition of reforms that China and the EU find unacceptable.

Anybody looking at the magnitude of U.S. trade deficits could have concluded that Washington had an excellent chance of using political leverage to quickly narrow its yawning trade gaps with China and the German-led EU — especially since neither the Chinese nor the Europeans were contesting the need that their systematic and excessive trade surpluses with the U.S. had to be reduced.

Germans, to be fair, were ready for concessions and actively seeking ways to initiate that process. It is not clear why things were allowed to go nowhere.

China, for its part, had a standing negotiating platform — “a win-win cooperation” — that could have served as a starting point. Instead of that, Washington and Beijing ended up trading blows in an escalating tariff fight.

Some observers now see a silver lining: They believe that a negotiating process will be unlocked after the mid-term Congressional elections early next month.

Let’s hope they are right. But one thing is clear: Washington cannot allow the continuation of huge leakages of its domestic spending to Europe and China. At the moment, the strengthening household and business outlays in the U.S. are driving $670 billion of European and Chinese exports to the U.S.

That export volume is an 11 percent increase from the first eight months of last year, and a great gift to celebrate a revival of U.S. economic activity.

It’s a gift because the combined European and Chinese surplus of $372.1 billion so far this year will go to their growing international creditor position, while the U.S. will have to keep issuing IOUs — that China and Europe don’t want to buy anymore — to finance its $8.6 trillion of net foreign liabilities that the U.S. Department of Treasury reported at the end of the second quarter.

If you find that number chilling, here’s more ice to the wound: America’s net foreign liabilities increased by nearly $1 trillion during the second quarter of this year.


Company: cnbc, Activity: cnbc, Date: 2018-10-22  Authors: dr michael ivanovitch, afp, getty images
Keywords: news, cnbc, companies, chinese, trillion, trade, escalate, dont, disputes, doves, believe, process, midterms, negotiating, second, washington, china, seeking, net, likely


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Ryanair predicts a ‘grim’ winter after summer profits fall 7%

Ryanair reported lower-than-expected profits in the second quarter of its fiscal year on Monday, as the airline struggles with weaker fares, higher oil prices and several strikes. It reported a net profit of 841.5 million euros ($968.61 million) for the second quarter, which was slightly below analyst expectations of 855 million euros, according to data firm Refinitiv. For the first half of the year, Ryanair reported a 7 percent drop in net profit to 1.2 billion euros. Here are the key highlight


Ryanair reported lower-than-expected profits in the second quarter of its fiscal year on Monday, as the airline struggles with weaker fares, higher oil prices and several strikes. It reported a net profit of 841.5 million euros ($968.61 million) for the second quarter, which was slightly below analyst expectations of 855 million euros, according to data firm Refinitiv. For the first half of the year, Ryanair reported a 7 percent drop in net profit to 1.2 billion euros. Here are the key highlight
Ryanair predicts a ‘grim’ winter after summer profits fall 7% Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-22  Authors: silvia amaro
Keywords: news, cnbc, companies, profit, euros, versus, billion, profits, million, second, reported, predicts, fares, grim, fall, winter, ryanair, summer


Ryanair predicts a 'grim' winter after summer profits fall 7%

Ryanair reported lower-than-expected profits in the second quarter of its fiscal year on Monday, as the airline struggles with weaker fares, higher oil prices and several strikes.

It reported a net profit of 841.5 million euros ($968.61 million) for the second quarter, which was slightly below analyst expectations of 855 million euros, according to data firm Refinitiv. For the first half of the year, Ryanair reported a 7 percent drop in net profit to 1.2 billion euros.

Here are the key highlights:

Net profit: 841.5 million euros, versus 309.2 million euros in the first quarter.

Total operating expenses: 1.825 billion euros, versus 1.708 billion in the first quarter.

Speaking to CNBC Monday, Ryanair’s CEO painted a gloomy picture for the rest of the year.

“The winter looks grim. We have a combination of rising oil prices; although Ryanair is very well hedged while competitors aren’t; fares are falling, there’s excess capacity in Europe … We see a winter characterized by declining air fares,” Michael O’Leary, CEO or Ryanair told CNBC’s “Squawk Box Europe” Monday.

He predicted that amid such an environment, many airlines would struggle to operate. “You will see more failures this winter as we enter what is probably a four-five year downturn in the industry.”


Company: cnbc, Activity: cnbc, Date: 2018-10-22  Authors: silvia amaro
Keywords: news, cnbc, companies, profit, euros, versus, billion, profits, million, second, reported, predicts, fares, grim, fall, winter, ryanair, summer


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China stocks surge more than 4 percent, extending Friday’s rally

Asia Pacific markets mostly rose on Monday as major Chinese indexes leaped more than 4 percent. Earlier in the day, the index saw gains of more than 4.5 percent. The moves followed Friday’s rally in Chinese stocks as authorities took steps to support the market after the release of weaker-than-expected GDP data. One market observer, however, voiced skepticism over the recent rally in mainland Chinese stocks. In Hong Kong, the Hang Seng index rose 2.22 percent in afternoon trade.


Asia Pacific markets mostly rose on Monday as major Chinese indexes leaped more than 4 percent. Earlier in the day, the index saw gains of more than 4.5 percent. The moves followed Friday’s rally in Chinese stocks as authorities took steps to support the market after the release of weaker-than-expected GDP data. One market observer, however, voiced skepticism over the recent rally in mainland Chinese stocks. In Hong Kong, the Hang Seng index rose 2.22 percent in afternoon trade.
China stocks surge more than 4 percent, extending Friday’s rally Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-22  Authors: eustance huang, vcg, visual china group, getty images
Keywords: news, cnbc, companies, chinese, fridays, day, close, end, trade, gained, extending, surge, index, rally, rose, china, stocks, menon


China stocks surge more than 4 percent, extending Friday's rally

Asia Pacific markets mostly rose on Monday as major Chinese indexes leaped more than 4 percent.

The Shanghai composite added 4.09 percent to close at around 2,654.88. Earlier in the day, the index saw gains of more than 4.5 percent.

Elsewhere, the Shenzhen composite gained 4.899 percent to close at about 1,325.73.

The moves followed Friday’s rally in Chinese stocks as authorities took steps to support the market after the release of weaker-than-expected GDP data.

One market observer, however, voiced skepticism over the recent rally in mainland Chinese stocks.

“Eventually, at the end of the day, fundamentals will still rule,” Vasu Menon, vice president of group wealth management at OCBC Bank told CNBC’s “Street Signs” on Monday morning.

Menon pointed out there were lingering concerns over Beijing’s trade war with Washington. “It doesn’t look like it’s going to end anytime soon,” he said.

“You see a rebound today, but does it mean that the markets have turned a corner and you know, will hit higher? I’m not sure. I don’t think so,” Menon said.

In Japan, the Nikkei 225 erased earlier losses to close 0.37 percent higher at 22,614.82 while the Topix index gained 0.15 percent to end the trading day at 1,695.31. South Korea’s Kospi gained 0.25 percent to close at 2,161.71. In Hong Kong, the Hang Seng index rose 2.22 percent in afternoon trade.


Company: cnbc, Activity: cnbc, Date: 2018-10-22  Authors: eustance huang, vcg, visual china group, getty images
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US Treasury yields fall as traders look ahead to data, bond auctions

U.S. government debt prices rose on Monday as traders anticipated upcoming economic data and bond auctions. ET, the yield on the benchmark 10-year Treasury note sank to around 3.196 percent, while the yield on the 30-year Treasury bond fell to 3.375 percent. Yields have hit multi-year highs in the last few weeks as a strong U.S. economy has spurred the Federal Reserve in the direction of higher interest rates. On the data front, the Chicago Federal Reserve will release national activity index fi


U.S. government debt prices rose on Monday as traders anticipated upcoming economic data and bond auctions. ET, the yield on the benchmark 10-year Treasury note sank to around 3.196 percent, while the yield on the 30-year Treasury bond fell to 3.375 percent. Yields have hit multi-year highs in the last few weeks as a strong U.S. economy has spurred the Federal Reserve in the direction of higher interest rates. On the data front, the Chicago Federal Reserve will release national activity index fi
US Treasury yields fall as traders look ahead to data, bond auctions Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-22  Authors: ryan browne
Keywords: news, cnbc, companies, release, interest, auctions, bond, reserve, et, data, ahead, yields, rates, fall, federal, look, treasury, traders, yield


US Treasury yields fall as traders look ahead to data, bond auctions

U.S. government debt prices rose on Monday as traders anticipated upcoming economic data and bond auctions.

At around 5:00 a.m. ET, the yield on the benchmark 10-year Treasury note sank to around 3.196 percent, while the yield on the 30-year Treasury bond fell to 3.375 percent. Bond yields move inversely to prices.

Yields have hit multi-year highs in the last few weeks as a strong U.S. economy has spurred the Federal Reserve in the direction of higher interest rates. The U.S. central bank last week released minutes that showed clear hawkish sentiment, with members confident in the Fed’s interest rate path.

On Monday, fears of rates increasing too high too fast appeared to soften. In equities, traders switched focus to earnings, with Halliburton, Hasbro, Kimberly-Clark and Polaris Industries all set to release their respective financial results before the bell.

On the data front, the Chicago Federal Reserve will release national activity index figures at 8:30 a.m. ET.

Meanwhile, $45 billion in three-month bills and $39 billion of six-month bills will be auctioned Monday at 11:30 a.m. ET.


Company: cnbc, Activity: cnbc, Date: 2018-10-22  Authors: ryan browne
Keywords: news, cnbc, companies, release, interest, auctions, bond, reserve, et, data, ahead, yields, rates, fall, federal, look, treasury, traders, yield


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