Kudlow says ‘tax cuts 2.0’ will be unveiled later this year during Trump presidential campaign

National Economic Council Director Larry Kudlow, a top economic adviser to President Trump, said Wednesday that the White House plans to unveil a plan for additional tax cuts later in 2020. “I am still running a process of Tax Cuts 2.0. We’re many months away – it’ll come out something later during the campaign,” Kudlow told CNBC. “Tax Cuts 2.0 to help middle-class economic growth: That’s still our goal.” As one of the Trump administration’s biggest victories of the president’s first term in off


National Economic Council Director Larry Kudlow, a top economic adviser to President Trump, said Wednesday that the White House plans to unveil a plan for additional tax cuts later in 2020.
“I am still running a process of Tax Cuts 2.0.
We’re many months away – it’ll come out something later during the campaign,” Kudlow told CNBC.
“Tax Cuts 2.0 to help middle-class economic growth: That’s still our goal.”
As one of the Trump administration’s biggest victories of the president’s first term in off
Kudlow says ‘tax cuts 2.0’ will be unveiled later this year during Trump presidential campaign Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-15  Authors: thomas franck
Keywords: news, cnbc, companies, presidential, trump, unveiled, house, tax, businesses, cuts, kudlow, economic, later, growth, campaign, unveil


Kudlow says 'tax cuts 2.0' will be unveiled later this year during Trump presidential campaign

National Economic Council Director Larry Kudlow, a top economic adviser to President Trump, said Wednesday that the White House plans to unveil a plan for additional tax cuts later in 2020.

“I am still running a process of Tax Cuts 2.0. We’re many months away – it’ll come out something later during the campaign,” Kudlow told CNBC. “Tax Cuts 2.0 to help middle-class economic growth: That’s still our goal.”

“I had a tremendous meeting with my friend Kevin Brady, who will undoubtedly be the new chairman of the House Ways and Means Committee,” he added. “But we will unveil this perhaps sometimes later in the summer.”

As one of the Trump administration’s biggest victories of the president’s first term in office, the 2017 Tax Cuts and Jobs Act lowered the U.S. corporate tax rate to 21% and cut rates for closely held businesses. The legislation effectively allowed businesses to keep more of what they deliver in profits, an outcome that proponents say will continue to drive job growth and investment.


Company: cnbc, Activity: cnbc, Date: 2020-01-15  Authors: thomas franck
Keywords: news, cnbc, companies, presidential, trump, unveiled, house, tax, businesses, cuts, kudlow, economic, later, growth, campaign, unveil


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Tesla sales employees petition for higher base pay after commission cuts in 2019

The reason I am reaching out today is to let you know that I will be sending out a petition tomorrow requesting a base pay increase for the Sales and VPS teams. Therefore, we are requesting a 15% increase in base pay to bring us closer to a living wage. We look forward to working together to make a sustainable change in Tesla’s internal culture as well as a change in the world as a whole. Please join me in signing this petition and helping Tesla become sustainable not only in our products but ho


The reason I am reaching out today is to let you know that I will be sending out a petition tomorrow requesting a base pay increase for the Sales and VPS teams.
Therefore, we are requesting a 15% increase in base pay to bring us closer to a living wage.
We look forward to working together to make a sustainable change in Tesla’s internal culture as well as a change in the world as a whole.
Please join me in signing this petition and helping Tesla become sustainable not only in our products but ho
Tesla sales employees petition for higher base pay after commission cuts in 2019 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-15  Authors: lora kolodny
Keywords: news, cnbc, companies, pay, company, work, future, increase, coworkers, employees, listed, change, cuts, base, sales, commission, 2019, petition, higher, tesla, sustainable


Tesla sales employees petition for higher base pay after commission cuts in 2019

Here is what Brewer’s e-mail said:

Hi Tesla Fam!

Happy new year to you all! I hope we can work together to make this decade a more memorable one in the best ways possible. The reason I am reaching out today is to let you know that I will be sending out a petition tomorrow requesting a base pay increase for the Sales and VPS teams. I hope you will consider supporting this endeavor. I have a few quick, important facts listed below about why this is important and how it will affect you if you decide to support us. If you have any questions or concerns please reach out to me. I have also listed the platform Coworker.org’s FAQ page if you would like to learn more.

Goal:

We believe in Tesla’s ultimate mission and want to see the company succeed with us as an integral part of that mission. But in order to do so, a real culture of sustainability needs to be established. That not only includes transitioning the world to sustainable energy and transportation but sustainable human rights practices such as being able to work together as a team to negotiate fair wages and treatment.

I love the idea of working together in a more group oriented practice but with this change came a very slight increase in base pay and a devastating decrease in commission. We rely heavily on this to make ends meet. Therefore, we are requesting a 15% increase in base pay to bring us closer to a living wage. We look forward to working together to make a sustainable change in Tesla’s internal culture as well as a change in the world as a whole.

Why is this important:

We all love Tesla and want to see the company do well but we need to be able to take care of ourselves as well. We have been told to be scrappy while watching our wages diminish, our work load increase and continuous promises of a better future if we push through now. This future will not come at Tesla if we do not fight for it. The company is doing exceedingly well with stocks and sales but the amount we make has decreased. Our VPS’ [Vechicle prep specialists] and TA’s [Tesla advisors] do not make a living wage and we are fighting to breathe life into a company that is not doing the same for us.

We love Tesla and our teammates. Even though it is hard to fight for ourselves let’s do our best to fight for each other. Tesla will be great and make a real change in this world but only if we hold the company to what is right. Please join me in signing this petition and helping Tesla become sustainable not only in our products but how we treat our people. Let’s dare to do more and be more.

How could this effect you:

– The names listed on this petition will only include your first name and last initial. If this concerns you, let me know and I will have the names listed hidden from public view.

– Positive conflict like this can only bring out the best in the place we work. When we work together to bring forward concerns and make positive change in company practices we create a better future not only for ourselves but our future coworkers. Our coworkers are our family and we always want to support each other as well as be the best we can.

Jess Kutch: what productive conflict can offer a workplace

– It’s against the law in the United States to fire or retaliate against an employee who joined with their coworkers to improve their working conditions.

– When you ask for help know that your coworkers will rise to the challenge for you and we hope that you will rise to the challenge to support us.

More info on the platform we are using:

Home.coworker.org/frequently-asked-questions

Please keep an eye out for this petition tomorrow and take the time to give it careful consideration. No question is too small. Please reach out if you have questions. We can make a difference if we work together.

All the best,

Dare Brewer, Tesla Adviser


Company: cnbc, Activity: cnbc, Date: 2020-01-15  Authors: lora kolodny
Keywords: news, cnbc, companies, pay, company, work, future, increase, coworkers, employees, listed, change, cuts, base, sales, commission, 2019, petition, higher, tesla, sustainable


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American Airlines cuts Boeing 737 Max from schedules until June as more delays arise

American has taken the 737 Max off its schedules through June 3, more than a full year later than it expected. American Airlines on Tuesday said it is pulling the Boeing 737 Max from its schedules until early June as the date of the troubled plane’s return to service becomes more uncertain and the manufacturer calls for time-consuming simulator training for pilots before they can fly the plane again. Last week, Boeing about-faced on simulator training, saying pilots should undergo that time-cons


American has taken the 737 Max off its schedules through June 3, more than a full year later than it expected.
American Airlines on Tuesday said it is pulling the Boeing 737 Max from its schedules until early June as the date of the troubled plane’s return to service becomes more uncertain and the manufacturer calls for time-consuming simulator training for pilots before they can fly the plane again.
Last week, Boeing about-faced on simulator training, saying pilots should undergo that time-cons
American Airlines cuts Boeing 737 Max from schedules until June as more delays arise Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-14  Authors: leslie josephs
Keywords: news, cnbc, companies, airlines, return, delays, arise, american, training, grounding, planes, schedules, 737, later, max, simulator, boeing, pilots, cuts


American Airlines cuts Boeing 737 Max from schedules until June as more delays arise

United Airlines also doesn’t expect the Max to return until early June — a sign carriers, which have already lost more than $1 billion in revenue from the grounding, are expecting the problem to extend to the peak second- and third-quarter travel seasons.

American has taken the 737 Max off its schedules through June 3, more than a full year later than it expected. The planes have been grounded since mid-March after two fatal crashes over five months killed 346 people and sent Boeing into the biggest crisis in its more than 100-year history.

American Airlines on Tuesday said it is pulling the Boeing 737 Max from its schedules until early June as the date of the troubled plane’s return to service becomes more uncertain and the manufacturer calls for time-consuming simulator training for pilots before they can fly the plane again.

It has becoming increasingly less clear when the planes will be able to fly again. Boeing is planning to temporarily shut down production of the planes this month as it works to win over regulators on fixes prompted by the two crashes. Last week, Boeing about-faced on simulator training, saying pilots should undergo that time-consuming preparation before the planes return to commercial service.

A lack of simulator training was a key selling point to airlines and shocking emails recently revealed Boeing employees boasted about bullying regulators and airlines into accepting the jets without requiring pilots to undergo the additional training. That change promises to add to Boeing’s costs and possible revenue losses for airlines.

American estimates the grounding cost it $540 million in pretax income last year. Last week, the Fort Worth, Texas-based airline said it reached an initial compensation agreement with Boeing. It didn’t disclose the terms but said it would share $30 million with its employees. Pilots said they would seek additional compensation for lost income after the carrier had to slash its growth plans for the year. American had 24 of the planes in its fleet at the time of the grounding and expected to have 40 more by the end of 2019, and 10 additional in 2020.

The airline said that it will operate flights for American Airlines employees and “invited guests” before the planes return to commercial service. American reports earnings later this month.

Boeing took a $4.9 billion charge last July to compensate its 737 Max customers. As the grounding drags on, that amount may rise and the company is set to update investors on that cost later this month.


Company: cnbc, Activity: cnbc, Date: 2020-01-14  Authors: leslie josephs
Keywords: news, cnbc, companies, airlines, return, delays, arise, american, training, grounding, planes, schedules, 737, later, max, simulator, boeing, pilots, cuts


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Boeing 737 Max supplier Spirit Aerosystems to cut 2,800 jobs as workers feel pain of grounding

An employee drills holes for rivets in a frame inside a Boeing 737 fuselage during assembly at Spirit AeroSystems in Wichita, Kansas. A key Boeing 737 Max supplier said Friday that it is planning to cut about 2,800 jobs as the planes remain grounded far longer than expected and the financial impact ripples through the aerospace company’s supply chain. The 737 Max accounts for half of Spirit’s revenue. Spirit said it would also make smaller job cuts at two plants in Oklahoma. The job cuts come as


An employee drills holes for rivets in a frame inside a Boeing 737 fuselage during assembly at Spirit AeroSystems in Wichita, Kansas.
A key Boeing 737 Max supplier said Friday that it is planning to cut about 2,800 jobs as the planes remain grounded far longer than expected and the financial impact ripples through the aerospace company’s supply chain.
The 737 Max accounts for half of Spirit’s revenue.
Spirit said it would also make smaller job cuts at two plants in Oklahoma.
The job cuts come as
Boeing 737 Max supplier Spirit Aerosystems to cut 2,800 jobs as workers feel pain of grounding Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-10  Authors: leslie josephs
Keywords: news, cnbc, companies, cut, pain, job, wanted, cuts, boeing, employees, spirit, supplier, jobs, workers, feel, planes, grounding, notice, max, 737


Boeing 737 Max supplier Spirit Aerosystems to cut 2,800 jobs as workers feel pain of grounding

An employee drills holes for rivets in a frame inside a Boeing 737 fuselage during assembly at Spirit AeroSystems in Wichita, Kansas.

A key Boeing 737 Max supplier said Friday that it is planning to cut about 2,800 jobs as the planes remain grounded far longer than expected and the financial impact ripples through the aerospace company’s supply chain.

Wichita, Kansas-based Spirit Aerosystems, which produces fuselages for the beleaguered planes, said it made the decision due to uncertainty around the Max’s return to service. The company’s shares fell after its announcement, trading down 2.7%. Boeing was off nearly 1.5%.

The 737 Max accounts for half of Spirit’s revenue. The planes have been grounded since mid-March after the second of two fatal crashes — one in Indonesia in 2018 and another in Ethiopia nearly five months later — killed all 346 people on board the flights. Regulators haven’t said when they would allow the planes to fly again

“This is not the news I wanted to share, and I know it’s not the news you wanted to hear,” CEO Tom Gentile told employees on Friday. “But the continued grounding of the Max fleet and the suspension of production has created a challenging situation for us.” In addition to fuselages, Spirit makes thrust reversers, engine pylons and wing parts.

Spirit, which issued what’s known as a WARN notice that requires companies to give employees 60 days notice of mass layoffs, said more job cuts are possible, a sign of how Boeing’s 737 Max crisis continues to hurt suppliers and the communities where they’re based. The laid-off employees, while they will have to depart in the coming weeks, will be paid for the entire 60-day notice period, Spirit said.

Spirit said it would also make smaller job cuts at two plants in Oklahoma.

The job cuts come as Boeing is facing a deepening crisis over the jets, its bestselling aircraft.

The company released hundreds of explosive messages on Thursday night, which were shared with lawmakers investigating the plane, that showed Boeing employees boasting about bullying regulators and disparaging the 737 Max as a plane “designed by clowns who in turn are supervised by monkeys.”

Boeing called the messages “completely unacceptable.”


Company: cnbc, Activity: cnbc, Date: 2020-01-10  Authors: leslie josephs
Keywords: news, cnbc, companies, cut, pain, job, wanted, cuts, boeing, employees, spirit, supplier, jobs, workers, feel, planes, grounding, notice, max, 737


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Hottest stock of 2019 AMD is on the move again after upgrade

Lisa Su, president and chief executive officer of Advanced Micro Devices (AMD), holds a 3rd generation Ryzen desktop processor while speaking during a keynote session at the 2019 Consumer Electronics Show (CES) in Las Vegas, Jan. 9, 2019. Improving U.S.-China trade tensions and competitor price cuts in the rear view now position hot chip stock Advanced Micro Devices to continue its impressive stock rally, according to Mizuho Securities. Semiconductor company AMD rallied nearly 150% in 2019, maki


Lisa Su, president and chief executive officer of Advanced Micro Devices (AMD), holds a 3rd generation Ryzen desktop processor while speaking during a keynote session at the 2019 Consumer Electronics Show (CES) in Las Vegas, Jan. 9, 2019.
Improving U.S.-China trade tensions and competitor price cuts in the rear view now position hot chip stock Advanced Micro Devices to continue its impressive stock rally, according to Mizuho Securities.
Semiconductor company AMD rallied nearly 150% in 2019, maki
Hottest stock of 2019 AMD is on the move again after upgrade Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-09  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, upgrade, chip, rakesh, hottest, mizuho, cuts, rally, share, stock, price, trade, 2019, amd


Hottest stock of 2019 AMD is on the move again after upgrade

Lisa Su, president and chief executive officer of Advanced Micro Devices (AMD), holds a 3rd generation Ryzen desktop processor while speaking during a keynote session at the 2019 Consumer Electronics Show (CES) in Las Vegas, Jan. 9, 2019.

Improving U.S.-China trade tensions and competitor price cuts in the rear view now position hot chip stock Advanced Micro Devices to continue its impressive stock rally, according to Mizuho Securities.

The firm upgraded shares of AMD, the best performing stock in the S&P 500 last year, to buy from neutral and hiked its price target to $55 per share from $38 per share, sending the chip stock up more than 4% to $49.94 per share on Thursday.

“We see the 2020 server market could be stronger than current muted consensus,” said Mizuho Securities analyst Vijay Rakesh in a note to clients on Wednesday.

Semiconductor company AMD rallied nearly 150% in 2019, making it the top company in the 500 stock index last year. But Mizuho missed out on the end of AMD’s rally on fears that aggressive price cuts from Intel would take market share in the chip industry. With the price cuts in the past and a phase one trade deal between the U.S. and China, AMD is set up for another big year, said Rakesh.


Company: cnbc, Activity: cnbc, Date: 2020-01-09  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, upgrade, chip, rakesh, hottest, mizuho, cuts, rally, share, stock, price, trade, 2019, amd


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Byron Wien makes some bold 2020 calls in his widely followed surprises list including 2 rate cuts

Stocks rally after Fed cutsLooking ahead, Wien said that in 2020 a recession will be avoided, but that economic growth will fall short of estimates. This is a widely followed metric on the Street, since recessions are typically preceded by a steepening of the yield curve. According to CNBC’s “Market Strategist Survey,” the average 2020 year-end S&P target is 3,330. Tech will underperformTechnology led all sectors in 2019 after returning 48% — its best year in a decade — but Wien envisions 2020 s


Stocks rally after Fed cutsLooking ahead, Wien said that in 2020 a recession will be avoided, but that economic growth will fall short of estimates.
This is a widely followed metric on the Street, since recessions are typically preceded by a steepening of the yield curve.
According to CNBC’s “Market Strategist Survey,” the average 2020 year-end S&P target is 3,330.
Tech will underperformTechnology led all sectors in 2019 after returning 48% — its best year in a decade — but Wien envisions 2020 s
Byron Wien makes some bold 2020 calls in his widely followed surprises list including 2 rate cuts Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-06  Authors: pippa stevens
Keywords: news, cnbc, companies, widely, economy, trade, 2020, list, calls, rate, rates, surprises, followed, stocks, makes, wien, market, including, cuts, oil


Byron Wien makes some bold 2020 calls in his widely followed surprises list including 2 rate cuts

Blackstone Vice Chairman Byron Wien predicts in 2020 there will be no comprehensive trade deal and the Fed will be forced to cut interest rates twice because of an underperforming economy, but that the S&P 500 will still rebound to an all-time high despite increasingly volatile trading. These predictions are part of his often prescient “Ten Surprises” list, which has been a must-read on Wall Street since Wien, a 50-year veteran of Wall Street, began publishing it in the mid-1980s when he was chief investment strategist at Morgan Stanley. Over the course of 2020, he also envisions tech stocks — 2019’s top sector — underperforming the broader market, and airline stocks rallying as Boeing’s embattled 737 Max jet returns to the sky. On the geopolitical side, he thinks the United Kingdom will leave the European Union once and for all, and that tensions in the Middle East will rise. The list, which Wien now publishes together with Joe Zidle, chief investment strategist in Blackstone’s private wealth solutions group, compiles events that they view as “probable” — meaning a greater than 50% chance of occurring — that an average investor might view as having only a one in three chance of playing out.

Stocks rally after Fed cuts

Looking ahead, Wien said that in 2020 a recession will be avoided, but that economic growth will fall short of estimates. This will prompt the Federal Reserve to slash interest rates twice by a quarter point (or one big cut) to 1%, down from the current range of 1.5% to 1.75%. “The economy disappoints the consensus forecast, but a recession is avoided,” the list states. “Federal Reserve Chair Powell lowers the Fed funds rate to 1%.” This would be a surprise to the market. The Fed said in December it expects to keep rates unchanged this year as the economy grows steadily and inflation picks up only slightly to its target range. On top of slowing economic growth, a Phase Two trade deal won’t be reached, they predict. In an effort to boost the economy, President Trump will use “every executive authority he has to stimulate growth,” which includes cutting payroll taxes. Wien said that the yield on the 10-year treasury will approach 2.5%, and that the yield curve will steepen. This is a widely followed metric on the Street, since recessions are typically preceded by a steepening of the yield curve. Wien predicts that the S&P 500 will top 3,500 for the first time — around 8% higher than where the index currently trades — but volatility will increase and there will be “several market corrections greater than 5% throughout the year.” According to CNBC’s “Market Strategist Survey,” the average 2020 year-end S&P target is 3,330. The highest is 3,500 from John Stoltzfus at Oppenheimer, and the lowest is 3,000 from Morgan Stanley’s Michael Wilson. But while Wien sees stocks rising, the boost won’t be from strength in fundamentals. “Earnings only increase 5%,” he said, and “S&P 500 multiples remain elevated because monetary policy is easy and investors becomes more comfortable that intermediate interest rates will rise slowly.”

Tech will underperform

Technology led all sectors in 2019 after returning 48% — its best year in a decade — but Wien envisions 2020 shaping up differently. He said that certain of the FAANG names — Facebook, Amazon, Apple, Netflix and Google — could underperform the broader market, thanks to “growing political scrutiny and social blowback.” While governments have tried to break up big tech in the past, Wien said that there could be “greater success” this time around given “widespread support from the American people.” Wien also believes that there will be a “balkanization of technology” prompted by the lack of a Phase Two trade deal as China’s ability to acquire intellectual property isn’t capped. This will lead to an erosion of the economic co-dependence between the U.S. and China. “The development of separate standards for 5G and other tech hardware proves to be bad news for the future of world economies,” he said.

Oil heads higher

Wien believes that U.S. West Texas Intermediate crude will trade as high as $70 per barrel in 2020 as geopolitical tensions in the Middle East rise. WTI currently trades around $63 per barrel, and it has not topped $70 since 2018. Oil prices gained more than 3% on Friday in the aftermath of the airstrike that killed Iran’s top commander Qasem Soleimani, with analysts saying that Iran’s chosen method of retaliation would determine the next move for oil. But by Monday traders appeared to be less concerned, and oil gave back a more than 2% gain to settle little changed, even spending some time in negative territory. That said, Wien anticipates that there will be retaliation, and that it will be in the form of a targeted oil attack. He said Iran will step up “acts of hositlity against Israel and Saudi Arabia,” and that the straits of Hormuz will be closed. This would be felt worldwide since more than one fifth of the world’s oil supply passes through the waterway.

A big Brexit winner

After years of negotiations, Wien believes that 2020 will be the year the United Kingdom officially leaves the European Union. He argues that with newfound clarity, the U.K. will be the winner from its departure, with U.K. markets and the pound moving higher. The countries remaining in the European Union, however, will not fare as well. “The EU economy remains soft,” he said, while anticipating that the bloc will underperform relative to the United States and Asia.

Boeing backlash subsides, lifting airline stocks

2020 will be the year that Boeing’s embattled 737 max aircraft returns to the skies, according to Wien, which means upside ahead for airline stocks. He said that the company will fix the issues surrounding the aircraft, and that deliveries will begin again. This, in turn, will allow airlines to “operate more efficiently and increase profits.” “The stocks become market leaders,” he said of airline names.

Re-visiting last year’s list


Company: cnbc, Activity: cnbc, Date: 2020-01-06  Authors: pippa stevens
Keywords: news, cnbc, companies, widely, economy, trade, 2020, list, calls, rate, rates, surprises, followed, stocks, makes, wien, market, including, cuts, oil


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Oil rises, supported by trade deal, OPEC cuts

Oil pumpjacks in the Permian Basin oil field are getting to work as crude oil prices gain. Oil prices rose on Thursday, buoyed by a potential breakthrough in the Sino-U.S. trade war and OPEC-led efforts to constrain supply, although trading was quiet as many markets were in holiday mode. “All of which is pointing to a stronger performance for oil prices in Q1 than anyone had thought only two months ago.” [nL1N28Y0A0]The roughly 17-month trade war hit global economic growth and demand for oil, le


Oil pumpjacks in the Permian Basin oil field are getting to work as crude oil prices gain.
Oil prices rose on Thursday, buoyed by a potential breakthrough in the Sino-U.S. trade war and OPEC-led efforts to constrain supply, although trading was quiet as many markets were in holiday mode.
“All of which is pointing to a stronger performance for oil prices in Q1 than anyone had thought only two months ago.”
[nL1N28Y0A0]The roughly 17-month trade war hit global economic growth and demand for oil, le
Oil rises, supported by trade deal, OPEC cuts Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-26
Keywords: news, cnbc, companies, supported, global, agreement, war, opec, deal, demand, supply, prices, cuts, trade, crude, oil, rises


Oil rises, supported by trade deal, OPEC cuts

Oil pumpjacks in the Permian Basin oil field are getting to work as crude oil prices gain.

Oil prices rose on Thursday, buoyed by a potential breakthrough in the Sino-U.S. trade war and OPEC-led efforts to constrain supply, although trading was quiet as many markets were in holiday mode.

Brent crude was up 22 cents, or 0.33%, at $67.42 a barrel by 0607 GMT.

West Texas Intermediate was up 21 cents, or 0.34%, at $61.32 a barrel by 0609 GMT.

“Oil prices continue to show year-end strength supported by a combination of definitive progress on the U.S.-China trade deal, the Dec OPEC/OPEC+ agreement, and slowing shale activity,” said Stephen Innes, chief Asia market strategist at AxiTrader.

“All of which is pointing to a stronger performance for oil prices in Q1 than anyone had thought only two months ago.”

U.S. President Donald Trump said on Tuesday he and Chinese President Xi Jinping will have a signing ceremony for the so-called Phase 1 agreement to end their trade dispute that was put together earlier this month. [nL1N28Y0A0]

The roughly 17-month trade war hit global economic growth and demand for oil, leaving prices range-bound for the most of the year.

Lower demand also rendered supply cuts by the Organization of Petroleum Exporting Countries (OPEC) and allies including Russia less effective in supporting the market.

The so-called OPEC+ grouping agreed in November to extend and deepen production cuts that would take as much as 2.1 million barrels per day (bpd) of supply off the market, or roughly 2% of global demand.

U.S. producers, not party to the OPEC+ agreement, have been pumping record amounts of oil, especially shale crude, to fill any supply gaps. Growth in production in the U.S. is forecast by many to slow, however.

Still, more supply is coming in the new year with Saudi Arabia and Kuwait earlier this week agreeing to end a dispute over their Neutral Zone, which can supply as much as 500,000 barrels per day of oil, or about 0.5% of global demand.

— CNBC contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-12-26
Keywords: news, cnbc, companies, supported, global, agreement, war, opec, deal, demand, supply, prices, cuts, trade, crude, oil, rises


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Citi cuts Twitter estimates and price target, citing concerns over ‘near-term revenue outlook’

Citi is lowering its earnings estimates on Twitter due to concerns about the social media company’s “near-term revenue outlook.” In a note to clients Wednesday, the firm also cut its price target on the stock to $36 from $45, and reiterated its neutral rating on Twitter share. Citi said ongoing issues with Twitter’s Mobile App Promotion product could hit revenues. Based on these concerns, Citi lowered its fourth-quarter EPS estimate to 24 cents from 27 cents. Citi also said the stock was a “high


Citi is lowering its earnings estimates on Twitter due to concerns about the social media company’s “near-term revenue outlook.”
In a note to clients Wednesday, the firm also cut its price target on the stock to $36 from $45, and reiterated its neutral rating on Twitter share.
Citi said ongoing issues with Twitter’s Mobile App Promotion product could hit revenues.
Based on these concerns, Citi lowered its fourth-quarter EPS estimate to 24 cents from 27 cents.
Citi also said the stock was a “high
Citi cuts Twitter estimates and price target, citing concerns over ‘near-term revenue outlook’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-18  Authors: pippa stevens
Keywords: news, cnbc, companies, revenue, fourthquarter, estimates, concerns, twitters, cuts, outlook, stock, citi, twitter, volatile, nearterm, price, social, stocks, citing, target


Citi cuts Twitter estimates and price target, citing concerns over 'near-term revenue outlook'

Citi is lowering its earnings estimates on Twitter due to concerns about the social media company’s “near-term revenue outlook.”

In a note to clients Wednesday, the firm also cut its price target on the stock to $36 from $45, and reiterated its neutral rating on Twitter share.

Citi said ongoing issues with Twitter’s Mobile App Promotion product could hit revenues. Based on these concerns, Citi lowered its fourth-quarter EPS estimate to 24 cents from 27 cents.

The company is expected to report fourth-quarter results on Feb. 6.

Citi also said the stock was a “high risk” because shares have proven to be “especially volatile relative to other Internet stocks.”


Company: cnbc, Activity: cnbc, Date: 2019-12-18  Authors: pippa stevens
Keywords: news, cnbc, companies, revenue, fourthquarter, estimates, concerns, twitters, cuts, outlook, stock, citi, twitter, volatile, nearterm, price, social, stocks, citing, target


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Citi cuts Twitter estimates and price target, citing concerns over ‘near-term revenue outlook’

Citi is lowering its earnings estimates on Twitter due to concerns about the social media company’s “near-term revenue outlook.” In a note to clients Wednesday, the firm also cut its price target on the stock to $36 from $45, and reiterated its neutral rating on Twitter share. Citi said ongoing issues with Twitter’s Mobile App Promotion product could hit revenues. Based on these concerns, Citi lowered its fourth-quarter EPS estimate to 24 cents from 27 cents. Citi also said the stock was a “high


Citi is lowering its earnings estimates on Twitter due to concerns about the social media company’s “near-term revenue outlook.”
In a note to clients Wednesday, the firm also cut its price target on the stock to $36 from $45, and reiterated its neutral rating on Twitter share.
Citi said ongoing issues with Twitter’s Mobile App Promotion product could hit revenues.
Based on these concerns, Citi lowered its fourth-quarter EPS estimate to 24 cents from 27 cents.
Citi also said the stock was a “high
Citi cuts Twitter estimates and price target, citing concerns over ‘near-term revenue outlook’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-18  Authors: pippa stevens
Keywords: news, cnbc, companies, revenue, fourthquarter, estimates, concerns, twitters, cuts, outlook, stock, citi, twitter, volatile, nearterm, price, social, stocks, citing, target


Citi cuts Twitter estimates and price target, citing concerns over 'near-term revenue outlook'

Citi is lowering its earnings estimates on Twitter due to concerns about the social media company’s “near-term revenue outlook.”

In a note to clients Wednesday, the firm also cut its price target on the stock to $36 from $45, and reiterated its neutral rating on Twitter share.

Citi said ongoing issues with Twitter’s Mobile App Promotion product could hit revenues. Based on these concerns, Citi lowered its fourth-quarter EPS estimate to 24 cents from 27 cents.

The company is expected to report fourth-quarter results on Feb. 6.

Citi also said the stock was a “high risk” because shares have proven to be “especially volatile relative to other Internet stocks.”


Company: cnbc, Activity: cnbc, Date: 2019-12-18  Authors: pippa stevens
Keywords: news, cnbc, companies, revenue, fourthquarter, estimates, concerns, twitters, cuts, outlook, stock, citi, twitter, volatile, nearterm, price, social, stocks, citing, target


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Dollar gains as US data make more Fed rate cuts unlikely

In this photo illustration, £1 coins are seen with the new £10 note on October 13, 2017 in Bath, England. The U.S. dollar rose on Wednesday as strong economic data decreased the chances the Federal Reserve would continue its rate-cutting cycle in 2020. The dollar index rose 0.16% to 97.38. Industrial production rebounded in the United States in November, mainly because a strike by General Motors Co workers ended. The dollar rose against the euro by 0.23% to $1.112.


In this photo illustration, £1 coins are seen with the new £10 note on October 13, 2017 in Bath, England.
The U.S. dollar rose on Wednesday as strong economic data decreased the chances the Federal Reserve would continue its rate-cutting cycle in 2020.
The dollar index rose 0.16% to 97.38.
Industrial production rebounded in the United States in November, mainly because a strike by General Motors Co workers ended.
The dollar rose against the euro by 0.23% to $1.112.
Dollar gains as US data make more Fed rate cuts unlikely Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-17
Keywords: news, cnbc, companies, cuts, unlikely, dollar, fed, gains, remains, near, rates, rose, trade, high, united, rate, states, data, tool


Dollar gains as US data make more Fed rate cuts unlikely

In this photo illustration, £1 coins are seen with the new £10 note on October 13, 2017 in Bath, England.

The U.S. dollar rose on Wednesday as strong economic data decreased the chances the Federal Reserve would continue its rate-cutting cycle in 2020.

The dollar index rose 0.16% to 97.38.

Industrial production rebounded in the United States in November, mainly because a strike by General Motors Co workers ended. Housing starts and building permits were both reported to have grown more than expected and October JOLTS job openings were better than forecast, suggesting that the U.S. labor market remains strong.

Expectations the Fed will cut rates from the current 150-175 basis point level are 2.2% for the January meeting, 4.3% for March and 12% for April, according to CME Group’s FedWatch tool. The same tool shows a 50% chance that rates will remain at current levels through December 2020.

“Bottom line: the U.S. economy remains on solid footing even as the rest of the world struggles,” wrote analysts at Brown Brothers Harriman.

The dollar rose against the euro by 0.23% to $1.112. The single currency has struggled to stay above its 200-day moving average of $1.115. The dollar was also 0.39% higher against the pound to $1.308, which has lost all its election gains on fears Britain could leave the European Union without a trade deal.

The dollar index “is up two days in a row for the first time since the last week of November, and has recouped over a third of its December swoon. Sterling is testing the Dec. 12 low near $1.3050 and a break below would set up a test of the November 22 low near $1.2825,” the Brown Brothers Harriman analysts wrote.

German business morale rose more than expected in December, a survey showed on Wednesday, another sign that a manufacturing slump in Europe’s largest economy may be bottoming out after overall output shrank earlier in the year. The data, however, failed to help the falling euro.

U.S. Trade Representative Robert Lighthizer said the United States may raise tariffs on European goods as it tries to shrink its chronic trade deficit with the continent, re-igniting worries about the export-driven euro.

The normally sleepy Hong Kong dollar hit a five-month high, roused into its sharpest rally in a year by investment flows from China, cooling unrest and a global unwinding of long positions in the greenback. It remained slightly off its July high of 7.7822; it will hit a 2-1/2 year high if it breaks below that level.


Company: cnbc, Activity: cnbc, Date: 2019-12-17
Keywords: news, cnbc, companies, cuts, unlikely, dollar, fed, gains, remains, near, rates, rose, trade, high, united, rate, states, data, tool


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