Cramer: These are the two numbers that gave Trump confidence to hit China with new tariff threat

“I’m also told that they are like, ‘Are you kidding me, you had a full year to move out of China. If you didn’t move out of China now, it’s your own fault,'” Cramer said on “Squawk on the Street. ” “My people I talk to said two numbers determine everything, 3.2% GDP and 3.6% unemployment. They overplayed their hand given the numbers of what we have” on the economy in the United States, Cramer said. Cramer pointed out the continued weakness in Dow stocks that would be most impacted by an escalati


“I’m also told that they are like, ‘Are you kidding me, you had a full year to move out of China. If you didn’t move out of China now, it’s your own fault,'” Cramer said on “Squawk on the Street. ” “My people I talk to said two numbers determine everything, 3.2% GDP and 3.6% unemployment. They overplayed their hand given the numbers of what we have” on the economy in the United States, Cramer said. Cramer pointed out the continued weakness in Dow stocks that would be most impacted by an escalati
Cramer: These are the two numbers that gave Trump confidence to hit China with new tariff threat Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-07  Authors: berkeley lovelace jr
Keywords: news, cnbc, companies, gave, trade, tariff, apple, confidence, cramer, china, dow, numbers, stocks, saying, didnt, hit, overplayed, trump, threat


Cramer: These are the two numbers that gave Trump confidence to hit China with new tariff threat

People are saying that American companies that didn’t reduce their China exposure after months and months of watching Washington and Beijing clash on trade have only themselves to blame, CNBC’s Jim Cramer reported Tuesday.

“I’m also told that they are like, ‘Are you kidding me, you had a full year to move out of China. If you didn’t move out of China now, it’s your own fault,'” Cramer said on “Squawk on the Street. ”

“My people I talk to said two numbers determine everything, 3.2% GDP and 3.6% unemployment. That’s when things changed. In other words, the Chinese played a little tougher but they overplayed their hand is what my people say. They overplayed their hand given the numbers of what we have” on the economy in the United States, Cramer said.

“I am saying 12:01 Friday will be different,” added the “Mad Money” host, referring to the midnight deadline later this week that President Donald Trump set for increases in China tariffs from 10% to 25% if trade talks don’t make progress.

U.S. stocks opened sharply lower Tuesday on trade concerns. The Dow Jones Industrial Average on Monday was off as much as 471 points but was able to recoup much of those losses by the close.

Cramer pointed out the continued weakness in Dow stocks that would be most impacted by an escalation in the trade war, including Apple, Caterpillar and Boeing.

“So who’s hurting the Dow?” asked Cramer. “Boeing, but they have a lot of orders. Caterpillar, they didn’t move out fast enough. Apple, who knows what their game is.”

Correction: Apple shares fell Monday. An earlier version misstated their move.


Company: cnbc, Activity: cnbc, Date: 2019-05-07  Authors: berkeley lovelace jr
Keywords: news, cnbc, companies, gave, trade, tariff, apple, confidence, cramer, china, dow, numbers, stocks, saying, didnt, hit, overplayed, trump, threat


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Small business confidence remains high, Main Street owners see more good times and revenue growth ahead: CNBC survey

Fifty-six percent of small business owners describe business conditions as good, while 60% say they expect revenue to increase in the next year. Small business confidence ticked up and remains at a high level, according to the latest CNBC|SurveyMonkey Small Business Survey for the second quarter. The CNBC|Survey Monkey Small Business Confidence Index reading of 59 (up from 58 in the first quarter 2019) indicates that small business owners are optimistic about the direction of their business over


Fifty-six percent of small business owners describe business conditions as good, while 60% say they expect revenue to increase in the next year. Small business confidence ticked up and remains at a high level, according to the latest CNBC|SurveyMonkey Small Business Survey for the second quarter. The CNBC|Survey Monkey Small Business Confidence Index reading of 59 (up from 58 in the first quarter 2019) indicates that small business owners are optimistic about the direction of their business over
Small business confidence remains high, Main Street owners see more good times and revenue growth ahead: CNBC survey Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-07  Authors: kate rogers eric rosenbaum, kate rogers, eric rosenbaum, laura wronski, senior research scientist, jon cohen, chief research officer
Keywords: news, cnbc, companies, survey, expect, small, times, tax, owners, high, business, businesses, revenue, remains, employees, main, confidence, street, growth


Small business confidence remains high, Main Street owners see more good times and revenue growth ahead: CNBC survey

The largest businesses (those with 50 or more employees) are particularly optimistic, with 77% describing business conditions as good and only 1% saying conditions are bad.

Two key survey questions showed the most confidence since Q3 2018. Fifty-six percent of small business owners describe business conditions as good, while 60% say they expect revenue to increase in the next year. The percentage of small business owners who expect revenue to decrease (6%) is at its lowest level since Q1 2018. The percentage of owners who describe business conditions as bad (5%) also was a low in the survey’s history.

“Businesses are feeling pretty good, the economy is doing well, and confidence is still at high levels,” said Todd McCracken, president and CEO of the National Small Business Association.

Small business confidence ticked up and remains at a high level, according to the latest CNBC|SurveyMonkey Small Business Survey for the second quarter. The CNBC|Survey Monkey Small Business Confidence Index reading of 59 (up from 58 in the first quarter 2019) indicates that small business owners are optimistic about the direction of their business over the next 12 months.

The Small Business Confidence Index reading of 59 is three points lower than its all-time high of 62, which was recorded in both Q1 2018 and Q3 2018. The CNBC|SurveyMonkey Small Business Survey for Q2 included responses from 2,100 small business owners across the country collected between April 15 and April 22.

Tax cuts, job market keep confidence off record

The stock market has been riding high for most of 2019 — the survey was conducted before the latest trade war headlines sent stocks into a tailspin this week. The Fed is signaling that conditions in the economy remain strong, but it has no current plans to raise rates, which could dampen enthusiasm. Still, small business confidence has not yet hit its 2018 record level.

The waning benefits from the 2017 tax cuts and competition for workers are likely factors weighing on the business outlook.

“Most small companies know they are temporary, and some are already getting close to beginning to phase out,” McCracken said. “With a divided power in Washington, businesses know that not much is going to happen to change that. Congress has to take proactive action to make sure those tax cuts stay in place beyond the next two to three years.”

The percentage of small business owners who said tax policy will be a positive for their business over the next 12 months fell to 28%, the lowest level in the history of the survey. Business owners saying tax policy will be a negative for their business over the next 12 months rose from 29% to 35% in Q2. Thirty-nine percent of small business owners expect no impact from tax policy.

He said the labor market is an inevitable by-product of the strong economy. “This is the nature of a strong economy — when you are at full employment, this is what happens.”

The majority of small businesses do not expect to either increase or decrease full-time staff (63%), a number that has moved between a low of 59% in Q3 of last year, and a high of 64% last quarter.

The labor market can have the biggest influence on the smallest businesses.

“The unique problems businesses face are greater. Large companies have more ability to survey the marketplace and find people, but small businesses have an information gap in terms of finding employees and employees finding them, McCracken said. “A lot of small companies have to train their workers which is a big investment. If they leave in a year or six months, businesses don’t get that repaid.”

Sixty-five percent of businesses of 50 or more employees say they expect to increase staff in the next year, versus only 19% of firms with four or fewer employees. The biggest gap exists between the smallest and largest small businesses. Among business with five to nine employees, 46% expect to increase staff; 44% of business with between 10 and 49 employees expect to add staff.

The CNBC|SurveyMonkey Small Business Survey for Q2 was conducted across 2,100 small business owners between April 15 and April 22. The survey is conducted quarterly using SurveyMonkey’s online platform and based on its survey methodology.


Company: cnbc, Activity: cnbc, Date: 2019-05-07  Authors: kate rogers eric rosenbaum, kate rogers, eric rosenbaum, laura wronski, senior research scientist, jon cohen, chief research officer
Keywords: news, cnbc, companies, survey, expect, small, times, tax, owners, high, business, businesses, revenue, remains, employees, main, confidence, street, growth


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Are Americans overly confident about retirement?

Americans think they’re prepared for retirement, but are they right? And, among those already out of the workforce, 82% are confident they will have enough money to live comfortably in retirement, up sharply from 75% a year ago. Researchers for EBRI’s 2019 Retirement Confidence Survey —the longest-running of its kind, which is now in its 29th year — say the discrepancy between retirement confidence and preparation is not new. “We did see those types of discrepancies between confidence and retire


Americans think they’re prepared for retirement, but are they right? And, among those already out of the workforce, 82% are confident they will have enough money to live comfortably in retirement, up sharply from 75% a year ago. Researchers for EBRI’s 2019 Retirement Confidence Survey —the longest-running of its kind, which is now in its 29th year — say the discrepancy between retirement confidence and preparation is not new. “We did see those types of discrepancies between confidence and retire
Are Americans overly confident about retirement? Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: sharon epperson, katie young, photoinc, getty images, -craig copeland, senior research associate at ebri
Keywords: news, cnbc, companies, overly, retirement, confident, workers, fidelity, current, americans, money, plan, confidence, financial


Are Americans overly confident about retirement?

Americans think they’re prepared for retirement, but are they right? 1 Hour Ago | 02:03

Americans are more optimistic than they’ve been in years about life in retirement. Yet one question remains: Will they have enough money?

According to a new study by the Employee Benefit Research Institute, confidence among U.S. workers has rebounded to pre-recession levels, with more than two-thirds (67%) saying they are very or somewhat confident they’ll be able to live comfortably throughout retirement. And, among those already out of the workforce, 82% are confident they will have enough money to live comfortably in retirement, up sharply from 75% a year ago.

“As the economy and current financial situation for workers and retirees improves, so does confidence,” said Craig Copeland, EBRI senior research associate.

Yet workers’ confidence about retirement living may be unrealistic, given the low share of those who have actually run the numbers on how much money they will need in those years.

Only 42% have done those retirement calculations, the EBRI report found. And fewer than 1 in 3 workers has tried to calculate how much money is needed for medical expenses in retirement. A 65-year-old couple retiring this year could spend $285,000 out of pocket on medical costs through their lifetimes, according to Fidelity Investments.

Researchers for EBRI’s 2019 Retirement Confidence Survey —the longest-running of its kind, which is now in its 29th year — say the discrepancy between retirement confidence and preparation is not new.

“We did see those types of discrepancies between confidence and retirement needs calculations before 2008,” Copeland said. “There is a disconnect.”

Some financial advisors say that disconnect is due in part to workers’ decisions about what to do with their money today, as well as a lack of planning about future finances.

More from Personal Finance:

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Social Security shortfall won’t hinder expansion: experts

For many workers, “it’s emotional,” said certified financial planner Ivory Johnson, founder of Delancey Wealth Management in Washington, D.C. “They’re buying things based on their current lifestyle.

“They made a decision to prioritize their current lifestyle over the retirement lifestyle,” he said.

That may explain why another study released today by Fidelity Investments about Americans’ “retirement mindset” finds that while 62% are confident about their current financial health, a majority lack confidence in their retirement future. Only 18% of Americans have created a comprehensive written plan for their retirement, according to the Fidelity report, which also found those who don’t have a plan said they’ve have never thought about it, don’t know where to begin or feel that they are too far behind for it to make a difference.


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: sharon epperson, katie young, photoinc, getty images, -craig copeland, senior research associate at ebri
Keywords: news, cnbc, companies, overly, retirement, confident, workers, fidelity, current, americans, money, plan, confidence, financial


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Euro zone consumer confidence falls unexpectedly in April

Euro zone consumer confidence fell unexpectedly by 0.7 points in April from the March number, figures released on Tuesday showed. The European Commission said a flash estimate showed euro zone consumer morale decreased to -7.9 this month from -7.2 in March. Economists polled by Reuters had expected a rise to -7.0. In the European Union (EU) as a whole, consumer sentiment fell by 0.6 points to -7.7. Both indicators remain above their respective long-term averages of -11.3 for the euro zone and -1


Euro zone consumer confidence fell unexpectedly by 0.7 points in April from the March number, figures released on Tuesday showed. The European Commission said a flash estimate showed euro zone consumer morale decreased to -7.9 this month from -7.2 in March. Economists polled by Reuters had expected a rise to -7.0. In the European Union (EU) as a whole, consumer sentiment fell by 0.6 points to -7.7. Both indicators remain above their respective long-term averages of -11.3 for the euro zone and -1
Euro zone consumer confidence falls unexpectedly in April Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: rosley majid, eyeem, getty images
Keywords: news, cnbc, companies, fell, commission, consumer, euro, confidence, european, unexpectedly, eu, zone, union, points, falls


Euro zone consumer confidence falls unexpectedly in April

Euro zone consumer confidence fell unexpectedly by 0.7 points in April from the March number, figures released on Tuesday showed.

The European Commission said a flash estimate showed euro zone consumer morale decreased to -7.9 this month from -7.2 in March. Economists polled by Reuters had expected a rise to -7.0.

In the European Union (EU) as a whole, consumer sentiment fell by 0.6 points to -7.7.

Both indicators remain above their respective long-term averages of -11.3 for the euro zone and -10.4 for the EU as a whole, the Commission said.


Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: rosley majid, eyeem, getty images
Keywords: news, cnbc, companies, fell, commission, consumer, euro, confidence, european, unexpectedly, eu, zone, union, points, falls


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Europe’s economy is experiencing a crisis of confidence

An array of data has pointed to worrying signs of a slowdown in the euro zone with further signs last week that Europe’s largest economy Germany is weakening. Euro zone industrial production data for February is due Friday and economists polled by Reuters expect it to have declined by 0.6 percent month-on-month. Data released by German statistics office Destatis Friday showed that German industrial production (excluding energy and construction) fell 0.2 percent in February on the previous month.


An array of data has pointed to worrying signs of a slowdown in the euro zone with further signs last week that Europe’s largest economy Germany is weakening. Euro zone industrial production data for February is due Friday and economists polled by Reuters expect it to have declined by 0.6 percent month-on-month. Data released by German statistics office Destatis Friday showed that German industrial production (excluding energy and construction) fell 0.2 percent in February on the previous month.
Europe’s economy is experiencing a crisis of confidence Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-09  Authors: holly ellyatt, christopher furlong, getty images news, getty images, dan kitwood
Keywords: news, cnbc, companies, germany, signs, manufacturing, experiencing, production, data, industrial, zone, confidence, crisis, economy, showed, german, europes, released


Europe's economy is experiencing a crisis of confidence

An array of data has pointed to worrying signs of a slowdown in the euro zone with further signs last week that Europe’s largest economy Germany is weakening. And more bad news could be on the way.

Euro zone industrial production data for February is due Friday and economists polled by Reuters expect it to have declined by 0.6 percent month-on-month.

“National data for February that have already been released show declines in total industrial production of 0.4 percent in Germany, 1.1 percent in Spain and 0.1 percent in Ireland,” Jack Allen, senior Europe economist at Capital Economics said in a note Friday, after what he said was “another set of weak economic data in the euro-zone” with specific reference to Germany.

Data released by German statistics office Destatis Friday showed that German industrial production (excluding energy and construction) fell 0.2 percent in February on the previous month. The day before, data showed new manufacturing orders fell 4.2 percent from January with declines seen both at a domestic and foreign level.

The data came after IHS Markit’s purchasing manager’s index (PMI) released on April 1 showed the manufacturing sector figure in Germany for March had fallen to an 80-month low (of 44.1). A level under 50 indicates contraction.


Company: cnbc, Activity: cnbc, Date: 2019-04-09  Authors: holly ellyatt, christopher furlong, getty images news, getty images, dan kitwood
Keywords: news, cnbc, companies, germany, signs, manufacturing, experiencing, production, data, industrial, zone, confidence, crisis, economy, showed, german, europes, released


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Italy faces a ‘worrying situation with no ideas for the future,’ former leader warns

Investors have lost confidence with Italy and its future remains uncertain, former prominent politicians in the country have told CNBC, taking aim at the current coalition government seated in Rome. Speaking at the Ambrosetti Workshop on the shores of Lake Como, Padoan told CNBC’s Steve Sedgwick that “the issue of lost confidence is still hanging over the country.” Meanwhile, Enrico Letta, the former prime minister of Italy called it a “worrying situation.” “There is a big problem for Italy and


Investors have lost confidence with Italy and its future remains uncertain, former prominent politicians in the country have told CNBC, taking aim at the current coalition government seated in Rome. Speaking at the Ambrosetti Workshop on the shores of Lake Como, Padoan told CNBC’s Steve Sedgwick that “the issue of lost confidence is still hanging over the country.” Meanwhile, Enrico Letta, the former prime minister of Italy called it a “worrying situation.” “There is a big problem for Italy and
Italy faces a ‘worrying situation with no ideas for the future,’ former leader warns Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-05  Authors: spriha srivastava
Keywords: news, cnbc, companies, minister, letta, warns, ideas, lost, situation, future, told, padoan, italy, problem, worrying, confidence, leader, faces


Italy faces a 'worrying situation with no ideas for the future,' former leader warns

Investors have lost confidence with Italy and its future remains uncertain, former prominent politicians in the country have told CNBC, taking aim at the current coalition government seated in Rome.

Former Italian Finance Minister Pier Carlo Padoan said the current Italian government has damaged confidence and investment into the southern European economy. Speaking at the Ambrosetti Workshop on the shores of Lake Como, Padoan told CNBC’s Steve Sedgwick that “the issue of lost confidence is still hanging over the country.”

Meanwhile, Enrico Letta, the former prime minister of Italy called it a “worrying situation.” “There is a big problem for Italy and big problem for Italy’s lack of investment and the duration of the public finance situation,” Letta told CNBC at the Ambrosetti Workshop.

“I think it is a worrying situation with no ideas for the future from the present government. It is just redistribution with no idea on how to grow. The country will face the second quarter for the year very very hard,” Letta said.


Company: cnbc, Activity: cnbc, Date: 2019-04-05  Authors: spriha srivastava
Keywords: news, cnbc, companies, minister, letta, warns, ideas, lost, situation, future, told, padoan, italy, problem, worrying, confidence, leader, faces


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Mainland China shares bounce as stimulus measures boost confidence

Mainland Chinese shares bounced strongly on Wednesday afternoon as markets took hope in stimulus measures announced by Beijing on Tuesday. The Shanghai composite surged 1.57 percent to close at 3,102.10 and the Shenzhen component rose 1.09 percent to end the day at 9,700.49. Stimulus measures announced by Beijing on Tuesday included infrastructure spending and cuts in taxes and fees worth nearly 2 trillion yuan ($289.28 billion). Shares of Fast Retailing, the company behind the Uniqlo chain of a


Mainland Chinese shares bounced strongly on Wednesday afternoon as markets took hope in stimulus measures announced by Beijing on Tuesday. The Shanghai composite surged 1.57 percent to close at 3,102.10 and the Shenzhen component rose 1.09 percent to end the day at 9,700.49. Stimulus measures announced by Beijing on Tuesday included infrastructure spending and cuts in taxes and fees worth nearly 2 trillion yuan ($289.28 billion). Shares of Fast Retailing, the company behind the Uniqlo chain of a
Mainland China shares bounce as stimulus measures boost confidence Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-06  Authors: eustance huang
Keywords: news, cnbc, companies, bounce, measures, rose, mainland, shares, confidence, close, boost, second, mousina, shenzhen, slipped, half, stimulus, numbers, china


Mainland China shares bounce as stimulus measures boost confidence

Mainland Chinese shares bounced strongly on Wednesday afternoon as markets took hope in stimulus measures announced by Beijing on Tuesday.

The Shanghai composite surged 1.57 percent to close at 3,102.10 and the Shenzhen component rose 1.09 percent to end the day at 9,700.49. The Shenzhen composite jumped 1.49 percent to close at 1,660.41.

Hong Kong’s Hang Seng index also traded in positive territory, adding 0.17 percent.

Stimulus measures announced by Beijing on Tuesday included infrastructure spending and cuts in taxes and fees worth nearly 2 trillion yuan ($289.28 billion).

The rest of Asia was more subdued. Japan’s Nikkei 225 declined 0.6 percent to close at 21,596.81, and the Topix slipped 0.25 percent to end at 1,615.25. Shares of Fast Retailing, the company behind the Uniqlo chain of apparel stores, fell more than 2 percent.

In South Korea, the Kospi slipped 0.17 percent to close at 2,175.60 with industry heavyweight Samsung Electronics recovering slightly to slip 0.56 percent, from steeper declines earlier.

Australia’s ASX 200 rose 0.64 percent, but the Australian dollar dropped to a two-month low of $0.7031, last changing hands at $0.7034. Data on Wednesday showed the country’s economy slowed sharply in the second half of last year.

“Overall, it was a pretty weak print,” Diana Mousina, senior economist at AMP Capital, told CNBC’s “Squawk Box” on Wednesday following the release of Australian GDP data.

“It’s really in line with the slowing global growth that we’ve had over the second half of the year and I guess that the difficulty for us is reconciling the very strong employment numbers that Australia has had with the weakness in GDP numbers,” Mousina said.


Company: cnbc, Activity: cnbc, Date: 2019-03-06  Authors: eustance huang
Keywords: news, cnbc, companies, bounce, measures, rose, mainland, shares, confidence, close, boost, second, mousina, shenzhen, slipped, half, stimulus, numbers, china


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Italy’s finance chief says Rome’s biggest problem is investor confidence

Investor confidence is the biggest problem that Italy is facing, the country’s finance minister told Class-CNBC Monday. The euro zone’s third largest economy has struggled to convince investors that it is on a sustainable fiscal path. Since the anti-establishment government came into power last June, concerns have risen about Italy’s ability to repay its debts. “I think investor confidence is Italy’s biggest problem. But confidence can be restored,” Giovanni Tria, Italy’s finance minister told C


Investor confidence is the biggest problem that Italy is facing, the country’s finance minister told Class-CNBC Monday. The euro zone’s third largest economy has struggled to convince investors that it is on a sustainable fiscal path. Since the anti-establishment government came into power last June, concerns have risen about Italy’s ability to repay its debts. “I think investor confidence is Italy’s biggest problem. But confidence can be restored,” Giovanni Tria, Italy’s finance minister told C
Italy’s finance chief says Rome’s biggest problem is investor confidence Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-05  Authors: silvia amaro, simona granati, corbis news, getty images
Keywords: news, cnbc, companies, chief, italy, tria, told, euro, finance, problem, yield, think, romes, italys, confidence, biggest, debt, investor


Italy's finance chief says Rome's biggest problem is investor confidence

Investor confidence is the biggest problem that Italy is facing, the country’s finance minister told Class-CNBC Monday.

The euro zone’s third largest economy has struggled to convince investors that it is on a sustainable fiscal path. Since the anti-establishment government came into power last June, concerns have risen about Italy’s ability to repay its debts.

This is because the coalition government has increased public spending and Rome is already dealing with the second highest debt pile in the euro area – at about 130 percent of debt- to-GDP.

These concerns have been mirrored into rising yields on Italian government debt – the higher the yield, the riskier the investment is perceived. For instance, the yield on the 10-year Italian paper peaked last May from below 2 percent to about 3 percent in a matter of days, on the back of the possibility that two anti-establishment parties were about to take power. The same yield is now trading at about 2.7 percent – still one of the highest in the euro area.

“I think investor confidence is Italy’s biggest problem. But confidence can be restored,” Giovanni Tria, Italy’s finance minister told CNBC.

“I see a lot of international appreciation for Italy’s industrial system and for our economy. We need to boost our own domestic morale even in the shot-term, but I think that our basis is very strong,” Tria, who is a technocrat and not a member of any of the coalition parties, said.

Data from the Ifo Institute showed last month that investor sentiment in the 19 member region dropped to its lowest level in more than four years. Out of eight euro zone countries analyzed, Italy registered the weakest level of economic climate.

The numbers point to a tough ride ahead for Italy, especially after Rome fell into recession in the last quarter of 2018.


Company: cnbc, Activity: cnbc, Date: 2019-03-05  Authors: silvia amaro, simona granati, corbis news, getty images
Keywords: news, cnbc, companies, chief, italy, tria, told, euro, finance, problem, yield, think, romes, italys, confidence, biggest, debt, investor


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Target CEO Brian Cornell sounds less exuberant about US consumer now

“It’s still a very stable consumer environment. You’re seeing strong consumer confidence, still,” Cornell told CNBC’s “Squawk Box” on Tuesday. But right now, I think we’re seeing a very consistent consumer environment.” Consumer confidence fell again in January as Americans dealt with uncertainty around the partial government shutdown, which turned out to be the longest ever. However, in February, with the shutdown over and stocks sharply rebounding in the opening two months of 2019, consumer co


“It’s still a very stable consumer environment. You’re seeing strong consumer confidence, still,” Cornell told CNBC’s “Squawk Box” on Tuesday. But right now, I think we’re seeing a very consistent consumer environment.” Consumer confidence fell again in January as Americans dealt with uncertainty around the partial government shutdown, which turned out to be the longest ever. However, in February, with the shutdown over and stocks sharply rebounding in the opening two months of 2019, consumer co
Target CEO Brian Cornell sounds less exuberant about US consumer now Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-05  Authors: matthew j belvedere
Keywords: news, cnbc, companies, confidence, consumer, ceo, months, market, brian, exuberant, environment, sounds, 2019, target, stocks, strong, cornell


Target CEO Brian Cornell sounds less exuberant about US consumer now

Target chief Brian Cornell tempered his statements about the strength of American shoppers on Tuesday, months after making a bold call that the consumer environment was “perhaps the strongest I’ve seen in my career.”

“It’s still a very stable consumer environment. Consumers are shopping. You’re seeing strong consumer confidence, still,” Cornell told CNBC’s “Squawk Box” on Tuesday.

“Certainly, we’re going to watch it carefully,” Cornell added, referring to consumer buying trends. “It’s going to ebb and flow. But right now, I think we’re seeing a very consistent consumer environment.”

Cornell, who became chairman and CEO of Target in 2014 after more than three decades at other retail and consumer products companies, was interviewed shortly after Target delivered better-than-expected fourth-quarter earnings, revenue and same-store sales growth, as well as a rosier full-year outlook.

Based on shares rising 5 percent on Tuesday, Target was up about 27 percent since its Christmas Eve low, including 15.7 percent in 2019. That compares with the S&P 500’s nearly 19 percent gain since Christmas Eve, with 11.4 percent of that advance coming this year.

In August, when stocks and consumer confidence were climbing, Cornell told analysts, “There’s no doubt that, like others, we’re currently benefiting from a very strong consumer environment — perhaps the strongest I’ve seen in my career.”

Then in late October, Cornell stood by those remarks, telling CNBC he saw no change in how Americans feel about their finances, despite sharp declines in the stock market at the time and evidence that some pockets of the economy may be slowing.

During the October interview, he also acknowledged the need to look at 2019 and beyond due to “some concerns about overall global trends,” but said then that consumer sentiment remained “very high.”

But consumer confidence, as measured by the Conference Board research firm, declined in November and December as stocks tanked in the final three months of 2018. Consumer confidence fell again in January as Americans dealt with uncertainty around the partial government shutdown, which turned out to be the longest ever. However, in February, with the shutdown over and stocks sharply rebounding in the opening two months of 2019, consumer confidence bounced higher.

Throughout the market and consumer confidence slides in late 2018 and rebounds in early 2019, the labor market remained relatively strong. The government releases its latest employment report Friday, with economists expecting 180,000 nonfarm jobs to have been added in February and the unemployment rate dipping to 3.9 percent. The three month nonfarm jobs growth average — January, December and November — with revisions was 241,000.


Company: cnbc, Activity: cnbc, Date: 2019-03-05  Authors: matthew j belvedere
Keywords: news, cnbc, companies, confidence, consumer, ceo, months, market, brian, exuberant, environment, sounds, 2019, target, stocks, strong, cornell


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Dow comeback takes a pause on poor Home Depot earnings

The data are old and “not reflecting enough time for consumers to respond to lower mortgage rates,” said Peter Boockvar, chief investment officer at Bleakley Advisory Group. “That said, the weekly MBA data on purchases has shown no real rebound in response to lower mortgage rates.” Strong consumer confidence numbers helped equities recover. The Conference Board said its consumer confidence index surged to 131.4 in February, easily topping an estimate of 124. In January, consumer confidence was a


The data are old and “not reflecting enough time for consumers to respond to lower mortgage rates,” said Peter Boockvar, chief investment officer at Bleakley Advisory Group. “That said, the weekly MBA data on purchases has shown no real rebound in response to lower mortgage rates.” Strong consumer confidence numbers helped equities recover. The Conference Board said its consumer confidence index surged to 131.4 in February, easily topping an estimate of 124. In January, consumer confidence was a
Dow comeback takes a pause on poor Home Depot earnings Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-26  Authors: fred imbert, brendan mcdermid
Keywords: news, cnbc, companies, sp, dow, confidence, ubs, testimony, market, mcmahon, lower, pause, consumer, depot, poor, comeback, mortgage, takes, earnings, powell


Dow comeback takes a pause on poor Home Depot earnings

The data are old and “not reflecting enough time for consumers to respond to lower mortgage rates,” said Peter Boockvar, chief investment officer at Bleakley Advisory Group. “That said, the weekly MBA data on purchases has shown no real rebound in response to lower mortgage rates.”

Home prices also rose in December at their slowest pace August 2015, the S&P Case-Shiller index showed.

Strong consumer confidence numbers helped equities recover. The Conference Board said its consumer confidence index surged to 131.4 in February, easily topping an estimate of 124. In January, consumer confidence was at 121.7.

Market participants also digested testimony from Federal Reserve Chairman Jerome Powell to a U.S. Senate committee on Tuesday. In prepared remarks, Powell said the economy is “healthy” but added the Fed is also seeing “crosscurrents and conflicting signals.” It comes after the U.S. central bank adopted a more cautious stance on future interest rate hikes last month.

Powell’s testimony came after Fed Vice Chair Richard Clarida said late Monday that the U.S. economy is “in a good place right now. He added: “It’s a good situation to be in, and we really want to do whatever we can to help support and maintain the economy.”

Stocks have been on a tear recently, with the Dow and Nasdaq on a nine-week winning streak. The S&P 500 has risen for eight of the past nine weeks. Diminishing concerns over U.S.-China trade and tighter monetary policy have contributed to the sharp stock gains.

Dan McMahon, director of equity trading at Raymond James, thinks equities have more room to run higher.

“We are still very much of the mind we are in a secular bull market. The run-off from the December lows is not too much too soon,” McMahon said. “From a valuation standpoint, everything looks OK. There’s still a lot of cash on the sidelines.Things aren’t that bad. You’ve got all kinds of headwinds and the market keeps charging ahead.”

Caterpillar dropped 2.8 percent after UBS cut its rating on the industrial giant to sell from buy. UBS also slashed its 12-month price target on Caterpillar to $125 per share from $154, implying an 11.6 percent downside from Monday’s close of $141.41. UBS cited slowing demand in global construction as the main reason for the downgrade. Caterpillar is largely seen as a bellwether for global growth.

—CNBC’s Sam Meredith and Reuters contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-02-26  Authors: fred imbert, brendan mcdermid
Keywords: news, cnbc, companies, sp, dow, confidence, ubs, testimony, market, mcmahon, lower, pause, consumer, depot, poor, comeback, mortgage, takes, earnings, powell


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