US Treasury yields tick higher as investors await economic data, auctions

At around 3:10 a.m. ET, the yield on the benchmark 10-year Treasury note, which moves inversely to price, was higher at around 2.4283 percent, while the yield on the 30-year Treasury bond was also higher at 2.8863 percent. On the data front, housing starts and building permits for February will both be released at around 8:30 a.m. Consumer confidence figures for March as well as the latest Richmond Fed surveys and Dallas Fed services data will follow later in the session.


At around 3:10 a.m. ET, the yield on the benchmark 10-year Treasury note, which moves inversely to price, was higher at around 2.4283 percent, while the yield on the 30-year Treasury bond was also higher at 2.8863 percent. On the data front, housing starts and building permits for February will both be released at around 8:30 a.m. Consumer confidence figures for March as well as the latest Richmond Fed surveys and Dallas Fed services data will follow later in the session.
US Treasury yields tick higher as investors await economic data, auctions Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-26  Authors: sam meredith
Keywords: news, cnbc, companies, higher, data, yields, services, surveys, treasury, investors, yield, economic, fed, tick, auctions, await, session, et, starts


US Treasury yields tick higher as investors await economic data, auctions

At around 3:10 a.m. ET, the yield on the benchmark 10-year Treasury note, which moves inversely to price, was higher at around 2.4283 percent, while the yield on the 30-year Treasury bond was also higher at 2.8863 percent.

On the data front, housing starts and building permits for February will both be released at around 8:30 a.m. ET. Consumer confidence figures for March as well as the latest Richmond Fed surveys and Dallas Fed services data will follow later in the session.


Company: cnbc, Activity: cnbc, Date: 2019-03-26  Authors: sam meredith
Keywords: news, cnbc, companies, higher, data, yields, services, surveys, treasury, investors, yield, economic, fed, tick, auctions, await, session, et, starts


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Dow set to rise more than 100 points as investors await Fed meeting

ET, Dow Jones Industrial Average futures indicated a gain of 128 points at the open. The Fed is set to kick off its two-day policy meeting later in the day. Market expectations for a rate hike are at zero, with most investors pricing in no change in policy. At its January meeting, the Fed indicated it will be “patient” in raising rates. That shift came after the central bank raised rates in December, sparking concern the Fed may be tightening too fast.


ET, Dow Jones Industrial Average futures indicated a gain of 128 points at the open. The Fed is set to kick off its two-day policy meeting later in the day. Market expectations for a rate hike are at zero, with most investors pricing in no change in policy. At its January meeting, the Fed indicated it will be “patient” in raising rates. That shift came after the central bank raised rates in December, sparking concern the Fed may be tightening too fast.
Dow set to rise more than 100 points as investors await Fed meeting Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-19  Authors: fred imbert, spriha srivastava
Keywords: news, cnbc, companies, expectations, market, dow, report, rise, points, rate, investors, 100, policy, fed, set, futures, meeting, await, rates, tightening


Dow set to rise more than 100 points as investors await Fed meeting

U.S. stock index futures traded higher on Tuesday, broadly supported on expectations the Federal Reserve could strike a dovish tone at its latest monetary-policy meeting.

At around 7 a.m. ET, Dow Jones Industrial Average futures indicated a gain of 128 points at the open. Futures on the S&P 500 and Nasdaq 100 also rose.

The Fed is set to kick off its two-day policy meeting later in the day. Market expectations for a rate hike are at zero, with most investors pricing in no change in policy. However, investors will look for clues on the Fed’s economic outlook.

The Fed is also expected to lower its interest rate forecasts — or “dot plots” — to show little or no further tightening in 2019. With global economic growth appearing to slow, most market participants anticipate the U.S. central bank to adopt a cautious tone.

At its January meeting, the Fed indicated it will be “patient” in raising rates. That shift came after the central bank raised rates in December, sparking concern the Fed may be tightening too fast.

“My expectations are that the Fed will maintain their dovishness,” said Gregory Faranello, head of rates at Roberts & Ryan. “The eyes will be on the dot plot, so I expect some tempering there as well.”

“The one potential are of concern would be if the data was not cooperating with the pivot,” Faranello said. “When we look at what’s going on on a global basis, [Fed Chairman Jerome Powell] has pointed to the headwinds, and those headwinds are still there.”

On the data front, January factory orders numbers are due at 10 a.m. ET.

Meanwhile, on the earnings front, FedEx and Tencent Music are expected to report after the bell.

—CNBC’s Sam Meredith contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-03-19  Authors: fred imbert, spriha srivastava
Keywords: news, cnbc, companies, expectations, market, dow, report, rise, points, rate, investors, 100, policy, fed, set, futures, meeting, await, rates, tightening


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US Treasury yields mixed as investors await Fed meeting

Market focus is largely attuned to central bank expectations, with the Federal Open Market Committee due to kick-off its two-day policy meeting on Tuesday. With global economic growth appearing to slow, most market participants anticipate the U.S. central bank to adopt a cautious tone. Market expectations for a rate hike are at zero, according to the CME Group’s FedWatch tool. The Fed said in its prior meeting that it will be “patient” and data-dependent when deciding whether to raise rates goin


Market focus is largely attuned to central bank expectations, with the Federal Open Market Committee due to kick-off its two-day policy meeting on Tuesday. With global economic growth appearing to slow, most market participants anticipate the U.S. central bank to adopt a cautious tone. Market expectations for a rate hike are at zero, according to the CME Group’s FedWatch tool. The Fed said in its prior meeting that it will be “patient” and data-dependent when deciding whether to raise rates goin
US Treasury yields mixed as investors await Fed meeting Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-19  Authors: thomas franck
Keywords: news, cnbc, companies, treasury, market, expectations, federal, mixed, central, investors, committee, policy, fed, separate, meeting, yields, await, rate, open


US Treasury yields mixed as investors await Fed meeting

Market focus is largely attuned to central bank expectations, with the Federal Open Market Committee due to kick-off its two-day policy meeting on Tuesday.

With global economic growth appearing to slow, most market participants anticipate the U.S. central bank to adopt a cautious tone. The Federal Reserve is also expected to lower its interest rate forecasts — or “dot plots” — for the remained of the year.

Market expectations for a rate hike are at zero, according to the CME Group’s FedWatch tool. However, investors will look for clues about the central bank’s economic outlook.

“We’re watching 2.54 percent in 10-year yields with keen interest not only because the level represents the bottom of the range and the lowest print since Jan. 2018, but also in no small part because it’s a mere 5 basis points away,” Ian Lyngen, head of U.S. rate strategy at BMO Capital Markets, wrote in a note to clients.

“The simple fact that Treasurys are within striking distance of such a pivotal level as the FOMC convenes to craft a message reiterating patience is telling of investors’ expectations for Powell to essentially dovishly double-down,” he added.

The Fed said in its prior meeting that it will be “patient” and data-dependent when deciding whether to raise rates going forward.

In a separate release earlier this year, Federal Open Market Committee members also mentioned the reduction to the central bank’s balance sheet. The committee issued a separate three-paragraph statement noting that “it is appropriate at this time to provide additional information regarding its plans to implement monetary policy over the long run.”

Investors are also monitoring developments out of Europe. Fresh Brexit uncertainty dragged U.K. sterling to as low as $1.3183 overnight. It comes after the speaker of Parliament ruled that British Prime Minister Theresa May could not put her divorce deal to a new vote unless it was re-submitted in a substantially different form.

May only has two days to secure approval for her deal to leave the European Union if she wants to meet with the bloc’s leaders on Thursday with something to offer them in exchange for more time.

On the data front, January factory orders numbers are due at 10:00 a.m. ET.

– CNBC’s Sam Meredith and Spriha Srivastava contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-03-19  Authors: thomas franck
Keywords: news, cnbc, companies, treasury, market, expectations, federal, mixed, central, investors, committee, policy, fed, separate, meeting, yields, await, rate, open


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Asian stocks rise as investors await Federal Reserve meeting

Major Asian stock markets closed higher on Monday as investors awaited developments on the U.S.-China trade front.The U.S. Federal Reserve was also set to begin its March policy meeting later in the week. Hong Kong’s Hang Seng index rose around 1 percent in its final hour of trading. Meanwhile, the U.S. and China looked to be closer to a trade deal, according to a Xinhua news report that both sides have made “concrete progress” on the text of the trade agreement. The news comes after CNBC report


Major Asian stock markets closed higher on Monday as investors awaited developments on the U.S.-China trade front.The U.S. Federal Reserve was also set to begin its March policy meeting later in the week. Hong Kong’s Hang Seng index rose around 1 percent in its final hour of trading. Meanwhile, the U.S. and China looked to be closer to a trade deal, according to a Xinhua news report that both sides have made “concrete progress” on the text of the trade agreement. The news comes after CNBC report
Asian stocks rise as investors await Federal Reserve meeting Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: eustance huang
Keywords: news, cnbc, companies, federal, meeting, await, shares, shenzhen, trade, rose, stocks, deal, rise, president, chinese, reserve, investors, index, close, asian, presumably


Asian stocks rise as investors await Federal Reserve meeting

Major Asian stock markets closed higher on Monday as investors awaited developments on the U.S.-China trade front.The U.S. Federal Reserve was also set to begin its March policy meeting later in the week.

Mainland Chinese shares advanced on the day, as the Shanghai composite jumped 2.47 percent to close at 3,096.42 and the Shenzhen component gained 3.067 percent to finish at 9,843.43. The Shenzhen composite also added 2.706 percent to close at 1,685.79.

Hong Kong’s Hang Seng index rose around 1 percent in its final hour of trading. Shares of rail operator MTR declined about 0.3 percent after a train collision disrupted services in the city.

The Nikkei 225 in Japan rose 0.62 percent to close at 21,584.50 as shares of index heavyweights Fast Retailing, Softbank Group and Fanuc all advanced. The Topix index also added 0.69 percent to finish at 1,613.68.

Over in South Korea, the Kospi closed 0.16 percent higher at 2,179.49 as shares of automaker Hyundai Motor jumped 2.48 percent. The ASX 200 in Australia gained 0.25 percent to close at 6,190.50, with most sectors rising.

Meanwhile, the U.S. and China looked to be closer to a trade deal, according to a Xinhua news report that both sides have made “concrete progress” on the text of the trade agreement.

The news comes after CNBC reported Thursday that Chinese negotiators suggest combining a state visit to the U.S. with the signing of a trade deal. Beijing wants a deal to be fully ironed out before Chinese President Xi Jinping meets with U.S. President Donald Trump.

“While there is presumably a strong US political imperative to get a deal done ahead of next year’s elections, and presumably China is keen to bed down this issue, and while we expect a deal to be proclaimed, we can only believe it once it’s seen,” David de Garis, a director and senior economist at National Australia Bank, said in a morning note.


Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: eustance huang
Keywords: news, cnbc, companies, federal, meeting, await, shares, shenzhen, trade, rose, stocks, deal, rise, president, chinese, reserve, investors, index, close, asian, presumably


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Taxes, penalties may await wealthy parents in college admissions scam

Wealthy parents ensnared in a massive college admissions scheme may have another worry on the horizon: the IRS. Two famous actresses and a group of executives are among the 50 people facing charges in a massive cheating conspiracy to help their children get into elite colleges, according to law enforcement officials. The scheme allegedly involved parents paying William “Rick” Singer of Newport Beach, California, so that he could facilitate cheating on the SAT and ACT entrance exams, according to


Wealthy parents ensnared in a massive college admissions scheme may have another worry on the horizon: the IRS. Two famous actresses and a group of executives are among the 50 people facing charges in a massive cheating conspiracy to help their children get into elite colleges, according to law enforcement officials. The scheme allegedly involved parents paying William “Rick” Singer of Newport Beach, California, so that he could facilitate cheating on the SAT and ACT entrance exams, according to
Taxes, penalties may await wealthy parents in college admissions scam Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-13  Authors: darla mercado, getty images, wakila, douglas p sacha, sarinyapinngam, istock, -joshua blank, professor of law at the university of california, irvine school of law
Keywords: news, cnbc, companies, according, allegedly, enforcement, await, parents, penalties, admissions, massive, children, wealthy, college, taxes, scam, singer, scheme, law


Taxes, penalties may await wealthy parents in college admissions scam

Wealthy parents ensnared in a massive college admissions scheme may have another worry on the horizon: the IRS.

Two famous actresses and a group of executives are among the 50 people facing charges in a massive cheating conspiracy to help their children get into elite colleges, according to law enforcement officials.

The scheme allegedly involved parents paying William “Rick” Singer of Newport Beach, California, so that he could facilitate cheating on the SAT and ACT entrance exams, according to the 204-page affidavit.

These payments, which ran from $15,000 to $75,000 per test, were allegedly structured as donations to the Key Worldwide Foundation, a non-profit that Singer established as a charity, according to law enforcement officials.

Parents also allegedly paid Singer a purported $25 million to bribe coaches and college administrators to designate the children as athletic recruits, according to the complaint.


Company: cnbc, Activity: cnbc, Date: 2019-03-13  Authors: darla mercado, getty images, wakila, douglas p sacha, sarinyapinngam, istock, -joshua blank, professor of law at the university of california, irvine school of law
Keywords: news, cnbc, companies, according, allegedly, enforcement, await, parents, penalties, admissions, massive, children, wealthy, college, taxes, scam, singer, scheme, law


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US stock futures slip as investors await inflation data

U.S. stock index futures were lower on Friday ahead of the release of key inflation data. ET, Dow Jones Industrial Average futures fell 50 points, indicating a decline of 73.92 points at the open. The latest CPI figures as well as core CPI data for December are scheduled for release at 8:30 a.m. Meanwhile, market focus was also attuned to news that trade talks between the world’s two largest economies could soon move to higher levels. U.S. and Chinese officials are working on arrangements of hig


U.S. stock index futures were lower on Friday ahead of the release of key inflation data. ET, Dow Jones Industrial Average futures fell 50 points, indicating a decline of 73.92 points at the open. The latest CPI figures as well as core CPI data for December are scheduled for release at 8:30 a.m. Meanwhile, market focus was also attuned to news that trade talks between the world’s two largest economies could soon move to higher levels. U.S. and Chinese officials are working on arrangements of hig
US stock futures slip as investors await inflation data Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-11  Authors: sam meredith
Keywords: news, cnbc, companies, slip, inflation, stock, data, release, officials, cpi, trade, talks, investors, await, points, higher, sp, futures


US stock futures slip as investors await inflation data

U.S. stock index futures were lower on Friday ahead of the release of key inflation data.

At around 7:10 a.m. ET, Dow Jones Industrial Average futures fell 50 points, indicating a decline of 73.92 points at the open. Futures on the S&P 500 and Nasdaq 100 were trading lower.

The latest CPI figures as well as core CPI data for December are scheduled for release at 8:30 a.m. ET.

The moves on Friday happened after after Federal Reserve Chairman Jerome Powell reiterated the U.S. central bank would be patient about raising interest rates over the coming months.

Meanwhile, market focus was also attuned to news that trade talks between the world’s two largest economies could soon move to higher levels.

U.S. and Chinese officials are working on arrangements of higher-level trade talks after mid-level officials concluded talks earlier this week. U.S. Treasury Secretary Steven Mnuchin said Thursday that Vice Premier Liu would most likely visit Washington later in January for further negotiations.

Major stock indexes on Wall Street closed slightly higher on Thursday, with the S&P 500 notching its first five-day winning streak since September.

However, gains were capped after disappointing holiday sales from Macy’s and a revenue guidance cut from American Airlines pressured retail and airline shares. Fear that the U.S. government shutdown might continue for a long time also weighed on stocks in the previous session.


Company: cnbc, Activity: cnbc, Date: 2019-01-11  Authors: sam meredith
Keywords: news, cnbc, companies, slip, inflation, stock, data, release, officials, cpi, trade, talks, investors, await, points, higher, sp, futures


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US Treasury yields move lower as investors await auctions

The yield on the benchmark 10-year Treasury note, which moves inversely to price, was lower at around 2.6921 percent, while the yield on the 30-year Treasury bond was also lower at 2.9984 percent. The moves in pre-market trade come after delegations from Washington and Beijing ended three days of trade negotiations in China on Wednesday. China’s commerce ministry said Thursday the negotiations were extensive and had helped set up a foundation for further talks. This week’s face-to-face meetings


The yield on the benchmark 10-year Treasury note, which moves inversely to price, was lower at around 2.6921 percent, while the yield on the 30-year Treasury bond was also lower at 2.9984 percent. The moves in pre-market trade come after delegations from Washington and Beijing ended three days of trade negotiations in China on Wednesday. China’s commerce ministry said Thursday the negotiations were extensive and had helped set up a foundation for further talks. This week’s face-to-face meetings
US Treasury yields move lower as investors await auctions Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-10  Authors: sam meredith
Keywords: news, cnbc, companies, lower, president, moves, investors, billion, await, treasury, yield, trade, trump, set, negotiations, yields, auctions


US Treasury yields move lower as investors await auctions

The yield on the benchmark 10-year Treasury note, which moves inversely to price, was lower at around 2.6921 percent, while the yield on the 30-year Treasury bond was also lower at 2.9984 percent.

The moves in pre-market trade come after delegations from Washington and Beijing ended three days of trade negotiations in China on Wednesday.

China’s commerce ministry said Thursday the negotiations were extensive and had helped set up a foundation for further talks.

This week’s face-to-face meetings were the first to take place since U.S. President Donald Trump and Chinese President Xi Jinping agreed to a 90-day truce last month.

If both sides are unable to secure a comprehensive trade agreement by March 2, Trump has said he plans to raise tariffs to 25 percent from 10 percent on $200 billion worth of Chinese imports.

No major economic data reports are expected to be published on Thursday.

Meanwhile, the U.S. Treasury is set to auction $40 billion in 4-week bills, $30 billion in 8-week bills and $16 billion in 29-year-10-month bonds on Thursday.


Company: cnbc, Activity: cnbc, Date: 2019-01-10  Authors: sam meredith
Keywords: news, cnbc, companies, lower, president, moves, investors, billion, await, treasury, yield, trade, trump, set, negotiations, yields, auctions


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Slowdown fears rise as markets await Powell, jobs report

Investors are hoping a strong December jobs report and dovish words from the Federal Reserve chairman will ease rising concerns about an economic slowdown. Traders were encouraged ahead of the report by strong ADP payroll data, with 271,000 new jobs in December. The ISM report added to a weak market tone Thursday, already negative after Apple’s warning Wednesday that iPhone sales were down in China and revenues would be sharply lower. Apple blamed trade wars for the decline, and the ISM report o


Investors are hoping a strong December jobs report and dovish words from the Federal Reserve chairman will ease rising concerns about an economic slowdown. Traders were encouraged ahead of the report by strong ADP payroll data, with 271,000 new jobs in December. The ISM report added to a weak market tone Thursday, already negative after Apple’s warning Wednesday that iPhone sales were down in China and revenues would be sharply lower. Apple blamed trade wars for the decline, and the ISM report o
Slowdown fears rise as markets await Powell, jobs report Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-03  Authors: patti domm, adam jeffery
Keywords: news, cnbc, companies, fears, ism, rise, powell, rate, fed, slowdown, await, market, jobs, yield, sheet, report, markets, going, trade


Slowdown fears rise as markets await Powell, jobs report

Investors are hoping a strong December jobs report and dovish words from the Federal Reserve chairman will ease rising concerns about an economic slowdown.

The December employment report, released at 8:30 a.m. ET Friday, is expected to show 177,000 non-farm payrolls were added, after 155,000 in November, and an unchanged unemployment rate of 3.7 percent, according to Thomson Reuters. Traders were encouraged ahead of the report by strong ADP payroll data, with 271,000 new jobs in December.

The jobs report also comes on the heels of Thursday’s shockingly weak ISM manufacturing survey, down 5.2 points to 54.1, the largest one-month decline since the financial crisis. The report, which still shows an expanding economy, was worrisome because it contained an 11-point drop in new orders.

The ISM report added to a weak market tone Thursday, already negative after Apple’s warning Wednesday that iPhone sales were down in China and revenues would be sharply lower. Apple blamed trade wars for the decline, and the ISM report only added to fears that trade was a potential catalyst for a broader global slowdown.

“You had some really strong ADP data the market completely ignored. Then you had a pretty horrendous ISM print that the market really reacted to strongly. That makes the setup for [Friday] interesting. It wouldn’t matter if the data is good, but it will matter if it’s bad,” said Tom Simons, chief money market economist at Jefferies.

Not long after the employment report, Fed Chairman Jerome Powell joins a panel at 10:15 a.m. ET with former Fed chairs Ben Bernanke and Janet Yellen. The event will be at the American Economic Association’s annual meeting in Atlanta and moderated by Neil Irwin of The New York Times.

The Powell appearance has been widely anticipated in markets, even though many economists do not expect him to provide much new insight into policy. Powell’s last appearance was at the briefing following the Fed’s rate meeting in December, and he spooked markets when he said that the Fed’s policy of winding down its balance sheet was on “auto pilot.” Markets are looking for Powell to show some flexibility on that program, under which the Fed has been shrinking its balance sheet by allowing securities to roll off as they mature.

“I’m worried we’re overhyping this appearance a little bit. It could be a real fluffy event,” said Simons. “Attention is going to be split up over three different people who are going to be talking about different things, and two of whom are going to be speaking in retrospect.”

Investors have been speculating that Powell could send a dovish message to intentionally reverse the impression he gave after the rate hike.

“I think he has to be careful with the sequencing. I think first he has to tell the markets he’s going to take a pause on rate hikes before he starts talking about the balance sheet,” said Peter Boockvar, chief investment officer at Bleakley Advisory Group.

Markets have been concerned that the Fed is heading for a policy mistake, of tightening too much in a too-weak economy.

“The important thing about today is that the market has this belief that if the Fed is done, that’s good. They’re not hiking anymore, that’s good. But they’re stuck with a still-fat balance sheet and a 2.25, 2.50 percent fed funds rate. If we get a poor payroll number that could be a precursor to jobs weakness,” said Boockvar. “You want the Fed to be done with their hiking cycle because they think they’ve done their job. You don’t want the Fed to be done with their hiking cycle because the economy is weakening in its face.”

Boockvar said the risk is a self-fulfilling prophecy where stock market weakness leads to a recession.

The stock market fell sharply Thursday, and buyers bid up bonds, sending yields to fresh lows. The Dow was down 660 points, or 2.8 percent, while the Nasdaq, hit hard by Apple, was down 3 percent at 6,463. The S&P 500 sank 2.5 percent to 2,447.

The 10-year Treasury yield was at 2.55 percent, the lowest in a year. But even more significant, yields on shorter-duration notes rose above longer-duration yields. For instance, the 7-year yield, at 2.43 percent, fell below the 1-year note, at 2.52 percent. The 2-year note yield, at 2.38 percent, was below 2.40 percent, the effective federal funds rate.

“It means the market is pricing in a recession risk in the next 24 months,” said Ian Lyngen, head of U.S. rate strategy at BMO. Lyngen said the market is also indicating an interest rate cut by the Fed is also possible within 24 months. The futures market is currently not pricing in any rate hikes, though the Fed forecasts two hikes this year.

Lyngen said the 10-year yield could continue to move lower Friday and the ISM data could be signaling a change in the economy. “”They’ve just reversed any expectations for any further momentum. Trumponomics, even in the corporate sector that also benefited from the GOP’s tax reform, has now priced it out,” said Lyngen.

Joe LaVorgna, chief economist at Natixis Americas, said the Fed has to pause. He said the trade war is a big worry for markets, but the Fed is bigger.

“The fear is people are going to lump the trade war as an excuse for everything, and it may work, and if there’s a deal, there might be a bounce. That’s a bear market trap if the Fed does not relent,” said LaVorgna.


Company: cnbc, Activity: cnbc, Date: 2019-01-03  Authors: patti domm, adam jeffery
Keywords: news, cnbc, companies, fears, ism, rise, powell, rate, fed, slowdown, await, market, jobs, yield, sheet, report, markets, going, trade


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Asia markets trade higher as investors await a key meeting Trump and Xi

Asia markets traded mostly higher on Tuesday, following an overnight bounce on Wall Street as investors await a crucial meeting between President Donald Trump and Chinese leader Xi Jinping. Greater China markets traded mixed: The Taiex, which measures the performance of aggregate listed stocks on the Taiwan stock exchange, was down 0.7 percent. Chinese mainland markets were positive, with the Shanghai composite up 0.43 percent and the Shenzhen composite higher by 0.67 percent. “Despite data on t


Asia markets traded mostly higher on Tuesday, following an overnight bounce on Wall Street as investors await a crucial meeting between President Donald Trump and Chinese leader Xi Jinping. Greater China markets traded mixed: The Taiex, which measures the performance of aggregate listed stocks on the Taiwan stock exchange, was down 0.7 percent. Chinese mainland markets were positive, with the Shanghai composite up 0.43 percent and the Shenzhen composite higher by 0.67 percent. “Despite data on t
Asia markets trade higher as investors await a key meeting Trump and Xi Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-27  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, higher, rose, markets, trade, meeting, traded, china, await, overnight, asia, key, fell, wrote, investors, trump, xi


Asia markets trade higher as investors await a key meeting Trump and Xi

Asia markets traded mostly higher on Tuesday, following an overnight bounce on Wall Street as investors await a crucial meeting between President Donald Trump and Chinese leader Xi Jinping.

Japan’s Nikkei 225 rose 0.2 percent while the Topix index added 0.39 percent. South Korea’s Kospi rose 0.25 percent.

Greater China markets traded mixed: The Taiex, which measures the performance of aggregate listed stocks on the Taiwan stock exchange, was down 0.7 percent. Hong Kong’s Hang Seng Index fell 0.53 percent.

Chinese mainland markets were positive, with the Shanghai composite up 0.43 percent and the Shenzhen composite higher by 0.67 percent.

Australia’s benchmark ASX 200 see-sawed between gains and losses to trade up 0.29 percent as the heavily weighed financial subindex rose 0.66 percent. The energy sector was up 0.36 percent, likely receiving a small boost from an overnight jump in oil prices.

“Despite data on the whole being softer, global markets traded with a better tone overnight, with equity markets leading the charge,” Nathanael Hartley from ANZ Research wrote in a morning note.

Some analysts said strong Black Friday sales reflecting solid consumer confidence was one of the factors that helped boost risk appetite among investors.

Apple suppliers in Asia will be closely watched throughout the trading day after Trump suggested that he could place a 10 percent tariff on iPhones and laptops imported from China. Apple products are currently exempt from tariffs.

Shares of Taiwan Semiconductor Manufacturing Co., which makes chips for iPhones, were down 1.12 percent. Catcher Technology, another Apple supplier, fell 2.22 percent. iPhone assembler Foxconn, formally known as Hon Hai Precision Industry, was down nearly 1 percent.

In an interview with the Wall Street Journal, Trump said it’s “highly unlikely” that he would delay an increase in tariffs from 10 percent to 25 percent on Jan. 1. His comments came days before the G-20 summit in Buenos Aires, Argentina, where he is set to meet Xi for trade talks. Many investors and decision makers are hoping that the summit will diffuse trade tensions between the U.S. and China after each country applied additional tariffs on billions of dollars’ worth of each other’s imports.

Apple shares fell nearly 2 percent in after-hours trading.

Trump’s latest remarks “sent a cautious mood to the market as a grim reminder that hurdle remains high in the forthcoming Trump-Xi trade talk,” Huani Zhu, an economist from Mizuho Bank, wrote in a morning note.


Company: cnbc, Activity: cnbc, Date: 2018-11-27  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, higher, rose, markets, trade, meeting, traded, china, await, overnight, asia, key, fell, wrote, investors, trump, xi


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Oil weighed down by record Saudi output; markets await G20, OPEC meetings

Record Saudi oil production pulled down crude prices on Tuesday amid cautious trading ahead of the G20 gathering that starts in Argentina on Friday and next week’s OPEC meeting in Austria. U.S. West Texas Intermediate (WTI) crude futures were at $51.21 per barrel, down 42 cents, or 0.8 percent. Saudi Arabia raised oil production to an all-time high in November, an industry source said on Monday, pumping 11.1 million to 11.3 million barrels per day (bpd) during the month. Since their most recent


Record Saudi oil production pulled down crude prices on Tuesday amid cautious trading ahead of the G20 gathering that starts in Argentina on Friday and next week’s OPEC meeting in Austria. U.S. West Texas Intermediate (WTI) crude futures were at $51.21 per barrel, down 42 cents, or 0.8 percent. Saudi Arabia raised oil production to an all-time high in November, an industry source said on Monday, pumping 11.1 million to 11.3 million barrels per day (bpd) during the month. Since their most recent
Oil weighed down by record Saudi output; markets await G20, OPEC meetings Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-27  Authors: ali jarekji
Keywords: news, cnbc, companies, weighed, meetings, await, barrel, production, crude, prices, wti, record, supply, saudi, opec, oil, output, markets, g20, meeting


Oil weighed down by record Saudi output; markets await G20, OPEC meetings

Record Saudi oil production pulled down crude prices on Tuesday amid cautious trading ahead of the G20 gathering that starts in Argentina on Friday and next week’s OPEC meeting in Austria.

International Brent crude oil futures briefly dipped below $60 per barrel before edging back to $60.10 per barrel at 0147 GMT, still down 38 cents, or 0.6 percent, from their last close.

U.S. West Texas Intermediate (WTI) crude futures were at $51.21 per barrel, down 42 cents, or 0.8 percent.

Saudi Arabia raised oil production to an all-time high in November, an industry source said on Monday, pumping 11.1 million to 11.3 million barrels per day (bpd) during the month.

Since their most recent peaks in early October, oil prices have lost almost a third of their value, weighed down by an emerging supply overhang and by widespread weakness in financial markets.

“The recent weakness seems … to have been driven by a wider impending sense of doom amidst weak equities, geopolitics, subsequent softening demand and increasing supply,” said Jack Allardyce, oil analyst at financial services firm Cantor Fitzgerald Europe.

Looking ahead, Allardyce said “a lot depends” on the outcome of the Group of 20 (G20) meeting in Buenos Aires where the United States and China are expected to address their trade disputes, and on a meeting of the Organization of the Petroleum Exporting Countries (OPEC).

The leaders of the G20 countries, which make up the world’s biggest economies, meet on Nov. 30 and Dec. 1, with the trade war between Washington and Beijing top of the agenda.

OPEC will gather for its annual meeting at its headquarters in Vienna on Dec. 6, and the group will discuss its output policy together with some non-OPEC producers, including Russia.

In favour of low oil prices for consumers, U.S. President Donald Trump has put pressure on his political ally Saudi Arabia, OPEC’s de-facto leader, not to cut production.

Despite this, most analysts expect OPEC to start withholding supply again soon.

“Our base case is for OPEC+ members to see through the pressure from President Trump and concentrate efforts on curbing the current oversupply in the market by conforming to a new production cut agreement next month in Vienna,” said Japan’s MUFG Bank.

“If OPEC plus Russia cannot send a very strong message to the market, prices are poised to fall further, perhaps to Brent $50 per barrel and WTI of $40 per barrel or less,” Fereidun Fesharaki, chairman of energy consultancy FGE, wrote in a note to clients.

“The message must be decisive, firm, and the front must look fully united, to have any chance of slowly reversing the trend,” it added.


Company: cnbc, Activity: cnbc, Date: 2018-11-27  Authors: ali jarekji
Keywords: news, cnbc, companies, weighed, meetings, await, barrel, production, crude, prices, wti, record, supply, saudi, opec, oil, output, markets, g20, meeting


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