Retail sales, small business sentiment, and other news affecting your money in the week ahead

Wall Street will be monitoring the all-important retail sales report due on Friday, especially as the holidays draw near. And a monthly survey of small business owners is scheduled for release on Tuesday. Economists forecast a big increase in consumer spendingWhat’s happening: The monthly retail sales report for November is scheduled for release on Friday, December 13. Small business owners may feel more optimisticWhat’s happening: A monthly report that measures confidence among small business o


Wall Street will be monitoring the all-important retail sales report due on Friday, especially as the holidays draw near.
And a monthly survey of small business owners is scheduled for release on Tuesday.
Economists forecast a big increase in consumer spendingWhat’s happening: The monthly retail sales report for November is scheduled for release on Friday, December 13.
Small business owners may feel more optimisticWhat’s happening: A monthly report that measures confidence among small business o
Retail sales, small business sentiment, and other news affecting your money in the week ahead Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-07  Authors: anna-louise jackson
Keywords: news, cnbc, companies, traders, small, week, sentiment, business, affecting, owners, ahead, report, money, economy, retail, trade, sales


Retail sales, small business sentiment, and other news affecting your money in the week ahead

The record-busting rally in the U.S. stock market has taken a pause. After major benchmarks set several all-time highs in December, the S&P 500 fell nearly 2% in three days before recovering to end the week higher. Experts say trade remains “the biggest risk out there” for the stock market right now, and that’s likely to create some choppiness in the weeks ahead. That’s because there’s a December 15 deadline looming for China and the U.S. to reach a trade deal before additional U.S. tariffs on Chinese goods take effect. The coming week is likely to be busy. House Speaker Nancy Pelosi on Thursday directed the House committees investigating President Donald Trump to proceed with articles of impeachment, and the Judiciary committee is scheduled to hold a hearing Monday morning on the evidence gathered in the inquiry. The Federal Reserve also will meet for its eighth and final time this year on Tuesday and Wednesday. While surprises on either front could rattle traders, pros point out that even big news can be “a nonissue for the market.” Wall Street will be monitoring the all-important retail sales report due on Friday, especially as the holidays draw near. And a monthly survey of small business owners is scheduled for release on Tuesday. Here’s what to watch in the stock market during the week ahead — and how the news could affect your bottom line.

Economists forecast a big increase in consumer spending

What’s happening: The monthly retail sales report for November is scheduled for release on Friday, December 13. This details how much American consumers spent on things like clothing and food. Economists currently forecast the biggest month-over-month increase in spending since August. Last month’s report showed that retail sales rebounded after falling in September, though Americans cut back on buying big-ticket household items. Meanwhile, economists project that another report due Wednesday will show that average hourly earnings ticked up slightly in November. Why it matters: American consumers have been very resilient this year, even amid signs of slowing in the broader economy. Reports in the past week showed that sentiment improved to the second-best number 2019 and consumers are borrowing more money via revolving credit, like credit cards, at rates not seen since July. Traders on Wall Street track the monthly retail sales report closely because consumer spending accounts for more than two-thirds of U.S. economic growth. What it means for you: Perhaps you haven’t made any changes to your shopping habits, but what your neighbors do matters to the overall economy. What’s more, there are less than three weeks until Christmas and the start of Hanukkah — and spending during the all-important holiday shopping season accounts for about 20% of annual retail sales each year, according to the National Retail Federation.

Small business owners may feel more optimistic

What’s happening: A monthly report that measures confidence among small business owners is scheduled for release on Tuesday by the National Federation of Independent Business. This survey looks at 10 different components, like whether business owners plan to hire more workers or spend more money, and how they feel about the economy. Why it matters: Businesses with fewer than 500 workers account for almost half of private sector employment, so traders closely monitor how these business owners feel. A separate poll last week found that optimism about the future of U.S. trade policy helped lift confidence among small business owners, according to the fourth-quarter 2019 CNBC/SurveyMonkey Small Business Survey. Trade has been key to the rebound in sentiment among business owners, so there’s also a risk if China and the U.S. can’t reach a deal before additional tariffs take effect. That means traders will be keen to see if there are any clues about future readings, especially because sentiment this year has been lower, on average, than either 2017 or 2018. What it means for you: Even if you don’t work for a small business, chances are you know someone who does. Hiring plans are good to track because they reveal important clues about the overall health of the U.S. economy. If employers pull back on adding workers to their payrolls, that may make it more difficult for job seekers to find a new position. Last month’s broader jobs report showed that employers added 266,000 jobs, the most since January. The U.S. economy is nearing full employment, meaning almost everyone willing and able to work can. And it’s generally been a good year for workers.

The bottom line


Company: cnbc, Activity: cnbc, Date: 2019-12-07  Authors: anna-louise jackson
Keywords: news, cnbc, companies, traders, small, week, sentiment, business, affecting, owners, ahead, report, money, economy, retail, trade, sales


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‘Give gifts of money’ this holiday season, says etiquette expert

The best way to give a gift is to give people what they want, not what you think they should have, says Elaine Swann, an etiquette expert. Across all generations, money for personal spending is the No. 1 present when ranked against tangible gifts, experiences, and money for bills or experiences, according to the Zelle study, but younger people are on record as being the most excited. “Millennials have definitely changed the landscape in terms of the way we give gifts now,” says Swann. Here are s


The best way to give a gift is to give people what they want, not what you think they should have, says Elaine Swann, an etiquette expert.
Across all generations, money for personal spending is the No.
1 present when ranked against tangible gifts, experiences, and money for bills or experiences, according to the Zelle study, but younger people are on record as being the most excited.
“Millennials have definitely changed the landscape in terms of the way we give gifts now,” says Swann.
Here are s
‘Give gifts of money’ this holiday season, says etiquette expert Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-07  Authors: ivana pino
Keywords: news, cnbc, companies, holiday, way, prefer, perfect, spending, gifts, zelle, expert, etiquette, money, gift, season, personal, experiences


'Give gifts of money' this holiday season, says etiquette expert

During the holidays, you might feel extra pressure to shop for the perfect gift for each of your friends and family members, but if what you really want to do is skip the shopping trip and send them cash, that’s perfectly acceptable. In fact, your recipient might well prefer it.

About two-thirds of people say that they prefer the gift of money to pay for experiences, bills, or personal spending, according to a 2019 online survey of U.S. adults conducted by Early Warning Services, LLC, the network operator behind the Zelle payments network.

While giving money seems impersonal, it can be the greatest gift of all for those who need cash to cover their expenses, or for those whose idea of the perfect gift is the freedom to treat themselves.

The best way to give a gift is to give people what they want, not what you think they should have, says Elaine Swann, an etiquette expert. That can mean sending them money so that they can choose how they want to spend it.

Giving the gift of money is becoming more widely accepted, too: “It used to be a taboo thing to give money or ask for it, but it’s now becoming part of our society to give gifts of money and then to graciously accept those gifts as well,” says Swann.

Across all generations, money for personal spending is the No. 1 present when ranked against tangible gifts, experiences, and money for bills or experiences, according to the Zelle study, but younger people are on record as being the most excited. “Millennials have definitely changed the landscape in terms of the way we give gifts now,” says Swann.

Here are some guidelines for graciously giving the gift of money over the holiday season.


Company: cnbc, Activity: cnbc, Date: 2019-12-07  Authors: ivana pino
Keywords: news, cnbc, companies, holiday, way, prefer, perfect, spending, gifts, zelle, expert, etiquette, money, gift, season, personal, experiences


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Trump calls for World Bank to stop lending money to China

U.S. President Donald Trump on Friday called for the World Bank to stop loaning money to China, one day after the institution adopted a lending plan to Beijing over Washington’s objections. The World Bank on Thursday adopted a plan to aid China with $1 billion to $1.5 billion in low-interest loans annually through June 2025. “Why is the World Bank loaning money to China? “World Bank lending to China has fallen sharply and will continue to reduce as part of our agreement with all our shareholders


U.S. President Donald Trump on Friday called for the World Bank to stop loaning money to China, one day after the institution adopted a lending plan to Beijing over Washington’s objections.
The World Bank on Thursday adopted a plan to aid China with $1 billion to $1.5 billion in low-interest loans annually through June 2025.
“Why is the World Bank loaning money to China?
“World Bank lending to China has fallen sharply and will continue to reduce as part of our agreement with all our shareholders
Trump calls for World Bank to stop lending money to China Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-07
Keywords: news, cnbc, companies, china, billion, calls, trump, president, plan, world, bank, money, lending, stop


Trump calls for World Bank to stop lending money to China

US president Donald Trump is seen during his press conference at the 2018 NATO Summit in Brussels, Belgium on July 12, 2018.

U.S. President Donald Trump on Friday called for the World Bank to stop loaning money to China, one day after the institution adopted a lending plan to Beijing over Washington’s objections.

The World Bank on Thursday adopted a plan to aid China with $1 billion to $1.5 billion in low-interest loans annually through June 2025. The plan calls for lending to “gradually decline” from the previous five-year average of $1.8 billion.

“Why is the World Bank loaning money to China? Can this be possible? China has plenty of money, and if they don’t, they create it. STOP!” Trump wrote in a post on Twitter.

“World Bank lending to China has fallen sharply and will continue to reduce as part of our agreement with all our shareholders including the United States,” the World Bank said in an emailed statement to Reuters.

“We eliminate lending as countries get richer.”

Spokespeople for the White House declined to comment on the record.

The World Bank loaned China $1.3 billion in the fiscal 2019 year, which ended on June 30, a decrease from around $2.4 billion in fiscal 2017.

But the fall in the World Bank’s loans to China is not swift enough for the Trump administration, which has argued that Beijing is too wealthy for international aid.


Company: cnbc, Activity: cnbc, Date: 2019-12-07
Keywords: news, cnbc, companies, china, billion, calls, trump, president, plan, world, bank, money, lending, stop


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Expats think this is the best city in the US to live and work

The best cities for expat workers overall are generally across Asia and Europe, and the only North American city to crack the top 10 is Montreal. Florida’s second-largest city is the easiest U.S. city to settle in as an expat, and newcomers generally feel welcome once they get there. While expats rate Miami highly for social activities, weather and friendliness, almost half rated the local transportation systems negatively. For the ranking, expats rated 25 elements of living abroad that measured


The best cities for expat workers overall are generally across Asia and Europe, and the only North American city to crack the top 10 is Montreal.
Florida’s second-largest city is the easiest U.S. city to settle in as an expat, and newcomers generally feel welcome once they get there.
While expats rate Miami highly for social activities, weather and friendliness, almost half rated the local transportation systems negatively.
For the ranking, expats rated 25 elements of living abroad that measured
Expats think this is the best city in the US to live and work Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-07  Authors: jennifer liu
Keywords: news, cnbc, companies, city, ranking, best, local, rated, feel, live, expats, work, miami, cities, think, expat, workers


Expats think this is the best city in the US to live and work

Some of the happiest people who move to the U.S. for work live in Miami, according to the annual Expat Insider survey by InterNations, an online resource group for expats around the world.

The ranking, which surveyed more than 20,000 expat workers in 187 countries, identified the top 82 cities where people were most satisfied with their working-abroad arrangement.

The best cities for expat workers overall are generally across Asia and Europe, and the only North American city to crack the top 10 is Montreal. The first U.S. city to appear on the list is Miami, which comes in at No. 27.

Florida’s second-largest city is the easiest U.S. city to settle in as an expat, and newcomers generally feel welcome once they get there. In fact, 75% of expats in Miami say they feel at home in their new city, compared with 64% who feel that way in other cities around the world. While expats rate Miami highly for social activities, weather and friendliness, almost half rated the local transportation systems negatively.

According to Pew Research Center, about 14,700 people were approved to move to Miami between 2010 and 2016 to work on H-1B visas. About half had an advanced degree, and applicants were approved for an average salary of $70,600.

At 247,000 approvals, the New York metro area approved the most number of H-1B visa workers during the same time period, though New York City was in the bottom 10 cities of the overall Expat City Ranking. Coming in at No. 74, it was rated poorly for financial security, health and environment, work-life balance and local cost of living. However, 85% of expat workers said they enjoy the local leisure options offered in the city, and nearly two-thirds find it easy to get used to local culture.

For the ranking, expats rated 25 elements of living abroad that measured quality of life, getting settled, work-life satisfaction, financial security and housing, and local cost of living.

Here are the best U.S. cities for expat workers.


Company: cnbc, Activity: cnbc, Date: 2019-12-07  Authors: jennifer liu
Keywords: news, cnbc, companies, city, ranking, best, local, rated, feel, live, expats, work, miami, cities, think, expat, workers


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China’s November foreign exchange reserves fall more than expected amid focus on trade deal

A bank employee counts U.S. currency and Chinese currency notes at a bank on August 6, 2019 in China. China’s foreign exchange reserves fell $9 billion in November to $3.096 trillion, central bank data showed on Saturday, as Washington and Beijing remained locked in negotiations over an interim trade agreement. Analysts polled by Reuters had expected China’s reserves, the world’s largest, would fall $4 billion to $3.101 trillion in November. The value of the country’s gold reserves fell to $91.4


A bank employee counts U.S. currency and Chinese currency notes at a bank on August 6, 2019 in China.
China’s foreign exchange reserves fell $9 billion in November to $3.096 trillion, central bank data showed on Saturday, as Washington and Beijing remained locked in negotiations over an interim trade agreement.
Analysts polled by Reuters had expected China’s reserves, the world’s largest, would fall $4 billion to $3.101 trillion in November.
The value of the country’s gold reserves fell to $91.4
China’s November foreign exchange reserves fall more than expected amid focus on trade deal Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-07
Keywords: news, cnbc, companies, focus, reserves, foreign, fall, trade, billion, amid, exchange, expected, end, chinas, deal, bank, yuan, months, chinese, trillion


China's November foreign exchange reserves fall more than expected amid focus on trade deal

A bank employee counts U.S. currency and Chinese currency notes at a bank on August 6, 2019 in China.

China’s foreign exchange reserves fell $9 billion in November to $3.096 trillion, central bank data showed on Saturday, as Washington and Beijing remained locked in negotiations over an interim trade agreement.

Analysts polled by Reuters had expected China’s reserves, the world’s largest, would fall $4 billion to $3.101 trillion in November.

Despite the slowing Chinese economy and escalating U.S.-China trade war, its reserves have been gradually rising since late 2018, helped by tight capital controls and rising inflows from foreign investors who are snapping up the country’s stocks and bonds.

Modest changes in reserve levels in recent months have been largely ascribed to fluctuations in global exchange rates and the value of assets that China holds such as foreign bonds.

The yuan has been driven largely by twists and turns in the 17-month long trade war between China and the United States.

After sliding sharply this summer as the dispute suddenly escalated, the yuan rose for three straight months through November on hopes of a trade truce, only to slide again in early December as tensions between Washington and Beijing flared.

Fresh U.S. tariffs on Chinese goods are set to take effect on Dec. 15.

It gained 0.12% against the dollar in November, but remains about 2.3% weaker for the year to date.

The dollar, meanwhile, rose about 1 percent against a basket of other major currencies in November.

The value of the country’s gold reserves fell to $91.47 billion at the end of November from $94.65 billion at the end of October.

China held 62.64 million fine troy ounces of gold at the end of November, unchanged from October.

China’s economic growth cooled to 6.0% in the third quarter, the slowest pace in nearly 30 years, and many economists believe it will decelerate further into the upper 5% range in 2020.

Still, analysts note capital outflows have been modest compared with the last economic downturn in 2015-16, when policymakers burned through roughly $1 trillion in reserves supporting the yuan.

China’s central bank has started to slowly trim interest rates in recent months, and more reductions are expected in coming quarters to avert a sharper slowdown.

But analysts believe those cuts will likely be more gradual and smaller than those in 2015. If so, moves in the yuan are likely to be influenced more by trade developments than policy easing.


Company: cnbc, Activity: cnbc, Date: 2019-12-07
Keywords: news, cnbc, companies, focus, reserves, foreign, fall, trade, billion, amid, exchange, expected, end, chinas, deal, bank, yuan, months, chinese, trillion


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Elizabeth Warren’s antitrust bill would dramatically enhance government control over the biggest US companies

The line Warren draws for such companies is far below the standard set for monopolistic companies, which hold 70% market share. The draft bill would instead focus on any companies with buying power, which could include corporations with market share as low as 25%. Undoing Supreme Court rulingsA key part of the bill prohibits dominant companies from “denying access to essential facilities.” The bill would also place limits on the ability of any company with market power to engage in predatory pri


The line Warren draws for such companies is far below the standard set for monopolistic companies, which hold 70% market share.
The draft bill would instead focus on any companies with buying power, which could include corporations with market share as low as 25%.
Undoing Supreme Court rulingsA key part of the bill prohibits dominant companies from “denying access to essential facilities.”
The bill would also place limits on the ability of any company with market power to engage in predatory pri
Elizabeth Warren’s antitrust bill would dramatically enhance government control over the biggest US companies Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-07  Authors: lauren hirsch
Keywords: news, cnbc, companies, enhance, warrens, warren, dramatically, company, antitrust, elizabeth, facebook, biggest, supreme, say, companies, power, bill, access, control


Elizabeth Warren's antitrust bill would dramatically enhance government control over the biggest US companies

Democratic presidential hopeful Massachusetts Senator Elizabeth Warren gestures as she arrives for a town hall devoted to LGBTQ issues hosted by CNN and the Human rights Campaign Foundation at The Novo in Los Angeles on October 10, 2019. ROBYN BECK | AFP | Getty Images

Presidential hopeful Sen. Elizabeth Warren is drafting a sweeping piece of legislation that would go far beyond breaking and blocking deals between companies and would exert more control over some of America’s largest firms. People with knowledge of the bill and who support it say the measure takes important steps towards clarifying the rule book under which the country’s largest companies play, after years of lax or incomplete oversight. Its detractors, including academics and antitrust lawyers who spoke with CNBC on the condition of anonymity, say it takes unprecedented steps to legislate America’s largest companies that undoes decades of jurisprudence and weakens the country’s competitive stance. The bill, tentatively named the Anti-Monopoly and Competition Restoration Act, is coauthored with Rep. David Cicilline, D-R.I., who chairs the antitrust subcommittee on the House Judiciary panel. Cicilline has said he will not introduce new antitrust legislation until the investigations he is leading into the growing power of big tech companies like Facebook have concluded. Bloomberg News first reported on the anti-merger aspects of the bill. CNBC has reviewed a draft of the bill. The legislation ultimately proposed may take a different shape. But its ideas demonstrate how dramatically Warren wishes to approach antitrust policy in the U.S. Warren, who has built her top-tier Democratic presidential campaign on a populist call for structural change in the American economy, has already pushed for breaking up big technology companies like Amazon and Facebook. The proposed antitrust legislation goes far beyond regulating merger-and-acquisition activity and ending megamergers. It outlines a set of provisions to apply to any company with “market power.” The line Warren draws for such companies is far below the standard set for monopolistic companies, which hold 70% market share. The draft bill would instead focus on any companies with buying power, which could include corporations with market share as low as 25%. It would also focus on all companies with more than $40 billion in sales. The guidelines cover everything from the way these companies treat their competitors to how they price their products. Spokespeople for Warren and Cicilline declined to comment. The guidelines mimic similar ones laid out in Europe, which has taken a more aggressive approach to antitrust than the U.S. with its “abuse of dominance standard.” Critics of Europe’s approach argue there is a reason that the world’s most innovative companies, like Google, have been born in Silicon Valley and not Paris or Berlin. Its defenders argue concerns over the potential ability of companies like Amazon and Facebook to abuse their power overrides concerns of economic power. “Over the last 3 decades, powerful corporations have amassed too much power over the United States economy, stifling competition in United States markets and harming consumers, workers, small businesses and entrepreneurs, and innovation,” the bill’s authors write.

Undoing Supreme Court rulings

A key part of the bill prohibits dominant companies from “denying access to essential facilities.” That language flies directly in the face of an influential Supreme Court case, Verizon v. Trinko. That 2004 ruling protects companies from lawsuits if they do not allow their competitors access to infrastructure deemed necessary for business. Broadly speaking, such infrastructure could be access to anything from a bridge to a search engine. The Trinko case stemmed from a lawsuit against Verizon for not providing competitors access to the telephone network it had built up. With that Supreme Court blessing, dominant companies have largely been free of the threat of litigation to give certain access to competitors. But Warren’s draft bill would codify into law what the Supreme Court has declined to impose punishment on. “This (proposed regulation) would essentially change the presumption that a refusal to share facilities – which is now presumptively lawful – to nearly conclusively unlawful,” said Professor John Lopatka, an antitrust scholar at Penn State Law. If enacted, the measure could have broad repercussions, including on companies like Amazon and Facebook that deal with the flow of data, an increasingly important tool in today’s economy. Facebook was accused by the U.K. Parliament last year of cutting off access to its data to Twitter’s Vine social video app, impairing its competitor in the process. The idea of monitoring the flow of information as anti-competitive behavior has been echoed elsewhere, and on a bipartisan basis. Republican Makan Delrahim, whom Trump appointed the head of the Justice Department’s antitrust division, recently said in a speech the DOJ plans to be “especially vigilant about the potential for anti-competitive effects when a company cuts off a profitable relationship supplying business partners with key data, code, or other technological inputs in ways that are contrary to the company’s economic interests.” Others, though, say such stipulations in the draft bill would force companies to give up the rewards of their own investment and ideas by passing them on to others. “The essence of Trinko was we want to create an incentive for firms to create these facilities to innovate and come up with this infrastructure. If you require a firm that succeeds to share that infrastructure with its rivals, the firm has less of an incentive to make those investments,” said Professor Lopatka. The bill would also place limits on the ability of any company with market power to engage in predatory pricing. Predatory pricing – the act of undercutting a rival with prices so low that they go out of business – is rarely litigated because it is nearly impossible to prove if it is not shown that a company will be successful in its efforts. According to the bill, though, it wouldn’t matter if a company’s efforts to undercut its rivals are likely to succeed. It would only matter whether a company prices its products for less than it costs to make them. Using low costs to hammer out competition is a tool that is frequently employed by larger companies like Walmart. Toys R Us blamed the big-box retailer in part for its liquidation by claiming the big box retailer slashed its toy prices so low it could not compete. Lawyers and academics who oppose the bill say the language will hurt consumers rather than helping them by limiting the ability of companies to pass on cost-savings they get through efficiencies of scale. It may also make it harder for new entrants to take on giants like Amazon, they say. The bill recommends a number of punishments for executives at companies who knowingly defy it, including fines and jail time. The Sherman Act, a federal statute that outlaws monopolistic business behavior, does allow the government to prosecute CEOs who lead allegedly anti-competitive companies. But such prosecutions are rare, and are reserved for CEOs engaged directly in an activity that limits competition, like price-fixing.

Moving on from Bork


Company: cnbc, Activity: cnbc, Date: 2019-12-07  Authors: lauren hirsch
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ICE ETF Hub a ‘highway’ for modernizing ETFs: BlackRock

BlackRock and NYSE owner ICE are looking to improve efficiency in the ETF market with their new ETF Hub as the industry continues to boom. The hub’s key features, according to the ICE ETF Hub website, include processes to streamline ETF order entries, consolidate issuer data and provide the analytic tools needed while also facilitating fixed income ETF trading. The latter has been a focus of BlackRock’s Samara Cohen, co-head of iShares Markets and Investments at Blackrock, given the surge in bon


BlackRock and NYSE owner ICE are looking to improve efficiency in the ETF market with their new ETF Hub as the industry continues to boom.
The hub’s key features, according to the ICE ETF Hub website, include processes to streamline ETF order entries, consolidate issuer data and provide the analytic tools needed while also facilitating fixed income ETF trading.
The latter has been a focus of BlackRock’s Samara Cohen, co-head of iShares Markets and Investments at Blackrock, given the surge in bon
ICE ETF Hub a ‘highway’ for modernizing ETFs: BlackRock Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-07  Authors: annie pei, lizzy gurdus
Keywords: news, cnbc, companies, etfs, bond, market, investors, ice, modernizing, really, trade, trading, cohen, highway, etf, hub, blackrock


ICE ETF Hub a 'highway' for modernizing ETFs: BlackRock

It’s been a big year for ETFs and investment giant BlackRock is aiming to make next year even bigger for the industry.

BlackRock and NYSE owner ICE are looking to improve efficiency in the ETF market with their new ETF Hub as the industry continues to boom. The hub’s key features, according to the ICE ETF Hub website, include processes to streamline ETF order entries, consolidate issuer data and provide the analytic tools needed while also facilitating fixed income ETF trading.

The latter has been a focus of BlackRock’s Samara Cohen, co-head of iShares Markets and Investments at Blackrock, given the surge in bond ETF trading. In fact, over half of net ETF inflows have gone to bond ETFs in 2019.

“What’s happening is, as lots of asset managers seek to meet the demand of investors to participate in bond ETFs, they’re creating a bunch of, you can think of it as local access roads to create and redeem bond ETFs,” she said Tuesday on CNBC’s “ETF Edge.”

“What the Hub is doing — and it’s really a market utility that has never existed before — is creating a highway to facilitate the manufacturing process for bond ETFs,” she added.

This is particularly relevant given that bond ETF trading, unlike for many ETF groups, has yet to be electronified, another goal Cohen has for the Hub.

“The demand for bond ETFs has really forced the electronification of the bond market because you can’t trade a big portfolio, and some of these ETFs have thousands of bonds,” she explained. “You can’t trade that by voice or over the phone, so you need electronic systems and that has facilitated a huge change in the bond market, broadly.”

Aside from the bond market, Cohen also points to the rising interest in ESG, short for Environmental, Social and Governance ETFs as another group that could drive the ETF industry.

“There’s been a real desire by investors in the U.S., [and that interest] has been there longer in Europe, to combine their investing with their beliefs, and investors are becoming educated in what that means for them,” she said.

Net inflows into U.S.-based ETFs have hit $271 billion this year, making 2019 the second-biggest year on record for the ETF market, according to ETF.com.

Disclaimer


Company: cnbc, Activity: cnbc, Date: 2019-12-07  Authors: annie pei, lizzy gurdus
Keywords: news, cnbc, companies, etfs, bond, market, investors, ice, modernizing, really, trade, trading, cohen, highway, etf, hub, blackrock


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Wall Street bets international stocks will top US equities in 2020 after a decade-long slump

Several investors and strategists are betting on international stocks outperforming the U.S. in the new year, something that has only happened twice since 2010. “A reacceleration in global growth, a weaker US dollar, and favorable valuations should all support non-US stocks next year.” Callum Thomas, head of research at Topdown Charts, notes there is a “50% valuation gap” between U.S. and international stocks. These moves could spur a resurgence in global economic growth, which would “disproport


Several investors and strategists are betting on international stocks outperforming the U.S. in the new year, something that has only happened twice since 2010.
“A reacceleration in global growth, a weaker US dollar, and favorable valuations should all support non-US stocks next year.”
Callum Thomas, head of research at Topdown Charts, notes there is a “50% valuation gap” between U.S. and international stocks.
These moves could spur a resurgence in global economic growth, which would “disproport
Wall Street bets international stocks will top US equities in 2020 after a decade-long slump Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-07  Authors: fred imbert
Keywords: news, cnbc, companies, valuation, growth, bets, stocks, wall, global, international, equities, msci, index, street, economic, slump, europe, decadelong, 2020


Wall Street bets international stocks will top US equities in 2020 after a decade-long slump

A pedestrian walks past a stock indicator displaying numbers of the Tokyo Stock Exchange and the world’s major markets in Tokyo. Kazuhiro Nogi | AFP | Getty Images

(This story is part of the Weekend Brief edition of the Evening Brief newsletter. To sign up for CNBC’s Evening Brief, click here.) U.S. equities have been the best place to invest during the past 10 years, but that dominance could shift in 2020. Several investors and strategists are betting on international stocks outperforming the U.S. in the new year, something that has only happened twice since 2010. U.S. stocks have blown their international counterparts out of the water in that time. The S&P 500 is up more than 180% and the MSCI ACWI ex U.S. exchange-traded fund (ACWX) has gained just 18% since 2010. Emerging markets have fared even worse this decade against the S&P 500. The iShares MSCI Emerging Market Index is up just 4% since 2010. However, market experts think international stocks are poised for a comeback in 2020 versus the U.S. due to attractive valuations and a potential trough in global economic growth as world central banks take up more stimulative measures. “Having underperformed for more than ten years, non-US stocks are set to gain the upper hand over their US peers,” Peter Berezin, chief global strategist at BCA Research, said in a note. “A reacceleration in global growth, a weaker US dollar, and favorable valuations should all support non-US stocks next year.”

Valuation favors international

The S&P 500’s price-to-earnings ratio, a widely used valuation metric on Wall Street, currently sits above 20. That’s the average’s richest valuation since August 2018. That high valuation follows the S&P 500 hitting all-time highs despite a year-over-year earnings decline. International stocks, however, are trading at a much lower valuation. Through Friday’s close, the ACWI fund’s price-to-earnings ratio rested around 14.7. Callum Thomas, head of research at Topdown Charts, notes there is a “50% valuation gap” between U.S. and international stocks. “Yes global ex-US has its problems, but are they 50% discount problems? At a certain point if the valuation gap is wide enough it kind of starts to speak for itself,” he said in a note. This wide valuation gap comes as global economic growth has slowed down while the U.S. economy keeps humming. Last week, the Commerce Department said U.S. GDP expanded by 2.1% in the third quarter. Economies around the world, meanwhile, have been stuck in the mud as manufacturing activity falls and trade conditions tighten. In Europe, manufacturing activity hit a seven-year low in October. It rebounded slightly in November but remained in contraction territory, data from IHS Markit showed. On the trade front, the U.S.-China conflict continues as both sides try to sign a so-called phase one deal. President Donald Trump also said Monday the U.S. will restore tariffs on metal imports from Brazil and Argentina. These factors, however, have led global central banks to ease monetary policy. The European Central Bank launched a new bond-buying program earlier this year. The People’s Bank of China lowered its short-term funding rate for the first time since 2015 last month, and the Bank of Japan has kept monetary policy easy throughout 2019.

Global economic rebound?

The trade tensions between China and the U.S. have eased slightly in recent months as both sides show they are willing to reach some sort of deal. These moves could spur a resurgence in global economic growth, which would “disproportionately benefit” international stocks relative to the U.S., BCA’s Berezin said. “The sector composition of international stocks is more skewed towards cyclicals than defensives compared to US stocks,” Berezin said. “As a result, non-US stocks generally outperform their US peers when global growth accelerates.” To be sure, global stocks may be pricing in these scenarios already. Mike Wilson, chief U.S. equity strategy at Morgan Stanley, said the MSCI All-Country World Index — which measures the performance of global stocks including the U.S. — has already produced returns that are “meaningfully higher” since hitting its December 2018 lows. “That is consistent with a bottoming in global economic growth, meaning that markets are sending a signal about the turn in growth and pricing it in many cases,” Wilson said.

What to buy overseas

Wilson recommends investors buy into Japanese and Korean stocks in 2020. He also has an underweight rating on U.S. stocks heading into next year. The iShares MSCI Japan ETF (EWJ) is up more than 18% this year, on pace for its biggest annual gain since 2017. The ETF rose 22.7% that year. Japan’s Nikkei 225 index is also up 16.4% for 2019. Korean stocks, however, have not fared nearly as well this year. The iShares MSCI South Korea ETF (EWY) is down more than 2% for 2019, and the main stock index, the Kospi, is barely up year to date. Europe is another international market eyed by experts heading into 2020. Stocks in the continent are on pace for their biggest annual gain since 2009, when they surged 28%. The Stoxx 600 index, which tracks a broad number of European stocks, is up 19.3% in 2019. Cameron Brandt, director of research at EPFR, said money flows into European assets are “certainly indicating that all the bad news in Europe has been priced in.” “Given that the ECB is back in full backstop mode, and that Europe has a lot of dry powder in terms of fiscal stimulus … it’s probably fair to say the greatest potential for upside next year may be in Europe,” Brandt said. Within Europe, one market that could see further upside in 2020 is Germany, said Nuveen’s Brian Nick. The German Dax has rallied more than 20% in 2019 and is headed for its biggest one-year gain since 2013. “If we get a stabilization in growth in 2020, the internationally oriented countries should do a bit better, especially if China looks a little more solid as it seems to,” the firm’s chief investment strategist said. “Those two economies are more closely tied together than the U.S. is to either of those.”

Buy international for the new decade?


Company: cnbc, Activity: cnbc, Date: 2019-12-07  Authors: fred imbert
Keywords: news, cnbc, companies, valuation, growth, bets, stocks, wall, global, international, equities, msci, index, street, economic, slump, europe, decadelong, 2020


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Saudi student opens fire at Florida Naval base, killing 3

The shooter was a member of the Saudi military who was in aviation training at the base, Florida Gov. Earlier Friday, two U.S. officials identified the student as a second lieutenant in the Saudi Air Force, and said authorities were investigating whether the attack was terrorism-related. One of the Navy’s most historic and storied bases, Naval Air Station Pensacola sprawls along the waterfront southwest of the city’s downtown and dominates the economy of the surrounding area. The base is also ho


The shooter was a member of the Saudi military who was in aviation training at the base, Florida Gov.
Earlier Friday, two U.S. officials identified the student as a second lieutenant in the Saudi Air Force, and said authorities were investigating whether the attack was terrorism-related.
One of the Navy’s most historic and storied bases, Naval Air Station Pensacola sprawls along the waterfront southwest of the city’s downtown and dominates the economy of the surrounding area.
The base is also ho
Saudi student opens fire at Florida Naval base, killing 3 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-07
Keywords: news, cnbc, companies, killing, naval, opens, base, student, air, shooting, saudi, florida, military, shooter, investigating, fbi, aviation


Saudi student opens fire at Florida Naval base, killing 3

An aviation student from Saudi Arabia opened fire in a classroom at the Naval Air Station Pensacola on Friday morning, killing three people in an attack the Saudi government quickly condemned and that U.S. officials were investigating for possible links to terrorism.

The assault, which ended when a sheriff’s deputy killed the attacker, was the second fatal shooting at a U.S. Navy base this week and prompted a massive law enforcement response and base lockdown.

Twelve people were hurt in the attack, including the two sheriff’s deputies who were the first to respond, Escambia County Sheriff David Morgan said. One of the deputies was shot in the arm and the other in the knee, and both were expected to recover, he said.

The shooter was a member of the Saudi military who was in aviation training at the base, Florida Gov. Ron DeSantis said at a news conference. DeSantis spokesman Helen Ferre later said the governor learned about the shooter’s identity from briefings with FBI and military officials.

A U.S. official who spoke to The Associated Press on condition of anonymity identified the shooter as Mohammed Saeed Alshamrani. The official wasn’t authorized to discuss the matter publicly. The official also said the FBI is examining social media posts and investigating whether he acted alone or was connected to any broader group.

During a news conference Friday night, the FBI declined to release the shooter’s identity and wouldn’t comment on his possible motivations.

“There are many reports circulating, but the FBI deals only in facts,” said Rachel L. Rojas, the FBI’s special agent in charge of the Jacksonville Field Office. “This is still very much an active and ongoing investigation.”

Earlier Friday, two U.S. officials identified the student as a second lieutenant in the Saudi Air Force, and said authorities were investigating whether the attack was terrorism-related. They spoke on condition of anonymity to disclose information that had not yet been made public.

President Donald Trump declined to say whether the shooting was terrorism-related. Trump tweeted his condolences to the families of the victims and noted that he had received a phone call from Saudi King Salman.

He said the king told him that “the Saudi people are greatly angered by the barbaric actions of the shooter, and that this person in no way shape or form represents the feelings of the Saudi people who love the American people.”

The Saudi government offered condolences to the victims and their families and said it would provide “full support” to U.S. authorities investigating the shooting.

“The Ministry of Foreign Affairs affirms that the perpetrator of this horrific attack does not represent the Saudi people whatsoever,” the government said in a statement. “The American people are held in the highest regard by the Saudi people.”

Vice Minister of Defense Khalid bin Salman noted on Twitter that he and many Saudi military personnel have trained on U.S. military bases and gone on to fight `’against terrorism and other threats” alongside American forces. “Today’s tragic event is strongly condemned by everyone in Saudi Arabia,” he said.

DeSantis said Saudi Arabia needed to be held to account for the attack.

“Obviously, the government … needs to make things better for these victims,” he said. “I think they’re going to owe a debt here, given that this was one of their individuals.”

A national security expert from the Heritage Foundation warned against making an immediate link to terrorism.

“If there is some connection to terrorism, well, then, that’s that,” Charles “Cully” Stimson said. “But let’s not assume that because he was a Saudi national in their air force and he murdered our people, that he is a terrorist.”

Stimson said it was also possible that the shooter was “a disgruntled evil individual who was mad because he wasn’t going to get his pilot wings, or he wasn’t getting the qualification ratings that he wanted, or he had a beef with somebody, or there was a girlfriend involved who slighted him.”

Florida U.S. Sen. Rick Scott issued a scathing statement calling the shooting an act of terrorism “whether this individual was motivated by radical Islam or was simply mentally unstable.”

Scott added that it was “clear that we need to take steps to ensure that any and all foreign nationals are scrutinized and vetted extensively before being embedded with our American men and women in uniform.”

U.S. Defense Secretary Mark Esper said in a statement Friday that he was “considering several steps to ensure the security of our military installations and the safety of our service members and their families.” He did not elaborate.

The U.S. has long had a robust training program for Saudis, providing assistance in the U.S. and in the kingdom. The shooting, however, shined a spotlight on the two countries’ sometimes rocky relationship.

The kingdom is still trying to recover from the killing last year of Washington Post columnist Jamal Khashoggi at the Saudi Consulate in Istanbul. Saudi intelligence officials and a forensic doctor killed and dismembered Khashoggi on Oct. 2, 2018, just as his fiancee waited outside the diplomatic mission.

One of the Navy’s most historic and storied bases, Naval Air Station Pensacola sprawls along the waterfront southwest of the city’s downtown and dominates the economy of the surrounding area.

Part of the base resembles a college campus, with buildings where 60,000 members of the Navy, Marines, Air Force and Coast Guard train each year in multiple fields of aviation. A couple hundred students from countries outside the U.S. are also enrolled in training, said Base commander Capt. Tim Kinsella.

The base is also home to the Blue Angels flight demonstration team, and includes the National Naval Aviation Museum, a popular regional tourist attraction.

Lucy Samford, 31, said her husband, a Navy reservist and civilian worker on the base, was about 500 yards (0.46 kilometers) from where the shooting happened. She said she got a call from him a little after 7 a.m. and “one of the first things out of his mouth was, ‘I love you. Tell the kids I love them. I just want you to know there’s an active shooter on base.'”

Her husband, whom she declined to identify, later told her he was OK.

All of the shooting took place in one classroom and the shooter used a handgun, authorities said. Weapons are not allowed on the base, which Kinsella said would remain closed until further notice.

The shooting is the second at a U.S. naval base this week. A sailor whose submarine was docked at Pearl Harbor, Hawaii, opened fire on three civilian employees Wednesday, killing two before taking his own life.


Company: cnbc, Activity: cnbc, Date: 2019-12-07
Keywords: news, cnbc, companies, killing, naval, opens, base, student, air, shooting, saudi, florida, military, shooter, investigating, fbi, aviation


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