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

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


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


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

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

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

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

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

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

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


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


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Alibaba opens two data centers in the UK to boost its cloud operations in Europe

Alibaba opened two data centers in the U.K. on Monday, further expanding its cloud footprint in Europe. A spokesperson for Alibaba Cloud said the move was part of the cloud division’s expansion into Europe, the Middle East and Africa (EMEA). The move comes as the U.K. struggles to finalize the terms of its contentious divorce with the European Union. “The United Kingdom is one of the fastest growing European markets for Alibaba Cloud, and many of our customers are in key verticals such as retail


Alibaba opened two data centers in the U.K. on Monday, further expanding its cloud footprint in Europe. A spokesperson for Alibaba Cloud said the move was part of the cloud division’s expansion into Europe, the Middle East and Africa (EMEA). The move comes as the U.K. struggles to finalize the terms of its contentious divorce with the European Union. “The United Kingdom is one of the fastest growing European markets for Alibaba Cloud, and many of our customers are in key verticals such as retail
Alibaba opens two data centers in the UK to boost its cloud operations in Europe Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-22  Authors: ryan browne, nigel treblin, getty images
Keywords: news, cnbc, companies, uk, key, data, operations, cloud, spokesperson, european, alibaba, location, centers, customers, growing, opens, expanding, europe, boost


Alibaba opens two data centers in the UK to boost its cloud operations in Europe

Alibaba opened two data centers in the U.K. on Monday, further expanding its cloud footprint in Europe.

The new facilities — both in London — are the Chinese tech giant’s first in Britain, and will provide its business customers in the region with round-the-clock security and engineering support and real-time monitoring.

A spokesperson for Alibaba Cloud said the move was part of the cloud division’s expansion into Europe, the Middle East and Africa (EMEA).

“As part of our commitment to continue expanding into Europe and across EMEA, we are launching two U.K. availability zones in addition to the existing ones in Frankfurt and Dubai,” the spokesperson said.

“Our decision on the location is driven by the rapidly growing customer demand in the U.K.”

Alibaba said the benefit of having two data centers within one location was the ability to recover or maintain key IT infrastructure in the event of a disaster.

The move comes as the U.K. struggles to finalize the terms of its contentious divorce with the European Union. Brexit talks seem to be in limbo over the key issue of preventing a hard Irish border.

“The United Kingdom is one of the fastest growing European markets for Alibaba Cloud, and many of our customers are in key verticals such as retail, finance, media, education and research, and logistics,” the Alibaba spokesperson said.

“We are also working with many global and local partners to make sure we are offering best-in-class technologies, services and consulting to customers.”


Company: cnbc, Activity: cnbc, Date: 2018-10-22  Authors: ryan browne, nigel treblin, getty images
Keywords: news, cnbc, companies, uk, key, data, operations, cloud, spokesperson, european, alibaba, location, centers, customers, growing, opens, expanding, europe, boost


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Oil prices edge up, but set for weekly loss on stock build, trade row

Oil prices nudged higher on Friday on signs of surging demand in China, the world’s second-biggest oil user, though prices are set to fall for a second week amid concerns of the ongoing Sino-U.S. trade war is limiting overall economic activity. Brent crude oil futures were trading at $79.51 per barrel at 0521 GMT, up 22 cents, or 0.3 percent, from their last close. The trade war concerns combined with surging U.S. oil stockpiles reported on Thursday are capping the day’s price gains. Meanwhile,


Oil prices nudged higher on Friday on signs of surging demand in China, the world’s second-biggest oil user, though prices are set to fall for a second week amid concerns of the ongoing Sino-U.S. trade war is limiting overall economic activity. Brent crude oil futures were trading at $79.51 per barrel at 0521 GMT, up 22 cents, or 0.3 percent, from their last close. The trade war concerns combined with surging U.S. oil stockpiles reported on Thursday are capping the day’s price gains. Meanwhile,
Oil prices edge up, but set for weekly loss on stock build, trade row Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-19
Keywords: news, cnbc, companies, trade, iranian, prices, data, barrels, row, crude, weekly, edge, stock, oil, week, war, set, loss, build, million


Oil prices edge up, but set for weekly loss on stock build, trade row

Oil prices nudged higher on Friday on signs of surging demand in China, the world’s second-biggest oil user, though prices are set to fall for a second week amid concerns of the ongoing Sino-U.S. trade war is limiting overall economic activity.

Brent crude oil futures were trading at $79.51 per barrel at 0521 GMT, up 22 cents, or 0.3 percent, from their last close.

U.S. West Texas Intermediate (WTI) crude futures were up 19 cents, or 0.3 percent, at $68.84 a barrel.

For the week, Brent crude was 1.1 percent lower while WTI futures were down 3.5 percent, putting both on track for a second consecutive weekly decline.

Refinery throughput in China, the world’s second-largest oil importer, rose to a record high of 12.49 million barrels per day (bpd) in September as some independent plants restarted operations after prolonged shutdowns over summer to shore up inventories, government data showed on Friday.

The refinery consumption may rise through the fourth quarter as several state-owned Chinese refiners return to service after maintenance.

Undermining the strong refinery data, China did on Friday report its weakest economic growth since 2009 in the third quarter, with gross domestic product expanding by only 6.5 percent, missing estimates.

The weak economic data raised concerns that the country’s trade war with United States is beginning to have an impact on growth, which may limit China’s oil demand.

The trade war concerns combined with surging U.S. oil stockpiles reported on Thursday are capping the day’s price gains.

U.S. crude stocks last week climbed 6.5 million barrels, the fourth straight weekly build, almost triple the amount analysts had forecast, the U.S. Energy Information Administration said on Wednesday.

“EIA Weekly Petroleum Status Report was a complete shocker sending Oil markets spiralling lower amidst some concerning development for oil bulls,” said Stephen Innes, head of trading APAC at OANDA in Singapore.

Inventories rose sharply even as U.S. crude production slipped 300,000 barrels per day (bpd) to 10.9 million bpd last week due to the effects of offshore facilities closing temporarily for Hurricane Michael.

Meanwhile, Iranian oil exports may have increased in October when compared to the previous month as buyers rush to lift more cargoes ahead of looming U.S. sanctions that kick in on Nov. 4.

An unprecedented volume of Iranian crude oil is set to arrive at China’s northeast Dalian port this month and in early November before U.S. sanctions on Iran take effect, according to an Iranian shipping source and data on Refinitiv Eikon.

So far, a total of 22 million barrels of Iranian crude oil loaded on supertankers owned by the National Iranian Tanker Co (NITC) are expected to arrive at Dalian in October and November, the data showed. Dalian typically receives between 1 million and 3 million barrels of Iranian oil each month, according to data that dates back to January 2015.


Company: cnbc, Activity: cnbc, Date: 2018-10-19
Keywords: news, cnbc, companies, trade, iranian, prices, data, barrels, row, crude, weekly, edge, stock, oil, week, war, set, loss, build, million


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China reports economic growth below expectations — its worst pace since the financial crisis

The world’s second-largest economy said its economy grew 6.5 percent year-over-year in the third quarter of 2018. The latest GDP data also came in lower than the 6.7 percent year-over-year expansion in the previous quarter. On a quarter-on-quarter basis, China’s economy grew 1.6 percent, according to the National Bureau of Statistics. Kelvin Tay, regional chief investment officer at UBS Global Wealth Management, said the slowdown in China’s growth is not surprising. Nevertheless, any signals abo


The world’s second-largest economy said its economy grew 6.5 percent year-over-year in the third quarter of 2018. The latest GDP data also came in lower than the 6.7 percent year-over-year expansion in the previous quarter. On a quarter-on-quarter basis, China’s economy grew 1.6 percent, according to the National Bureau of Statistics. Kelvin Tay, regional chief investment officer at UBS Global Wealth Management, said the slowdown in China’s growth is not surprising. Nevertheless, any signals abo
China reports economic growth below expectations — its worst pace since the financial crisis Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-19  Authors: huileng tan, yen nee lee, vincent isore, getty images
Keywords: news, cnbc, companies, trade, yearoveryear, expectations, growth, financial, worst, data, china, quarter, pace, economy, reports, crisis, chinas, gdp, grew, economic


China reports economic growth below expectations — its worst pace since the financial crisis

China’s economic growth slowed more than expected to the weakest pace since the first quarter of 2009 as the country’s trade war with the U.S. puts pressure on growth, according to official data released on Friday.

The world’s second-largest economy said its economy grew 6.5 percent year-over-year in the third quarter of 2018. That missed expectations for a 6.6 percent growth, according to analysts polled by Reuters. The latest GDP data also came in lower than the 6.7 percent year-over-year expansion in the previous quarter.

Despite the GDP miss, China’s stock markets recovered from earlier losses to trade in positive territories. The Shanghai composite was about 0.37 percent higher, and the Shenzhen composite inched up 0.325 percent.

On a quarter-on-quarter basis, China’s economy grew 1.6 percent, according to the National Bureau of Statistics. That met the estimates by economists in a Reuters poll.

Kelvin Tay, regional chief investment officer at UBS Global Wealth Management, said the slowdown in China’s growth is not surprising.

“China cannot be growing at 6.6-6.7 percent every quarter because of the fact that they’re starting to deleverage and also for the fact that you’ve got a trade dispute going on with the Americans,” he told CNBC’s “Street Signs” after the GDP data release.

In addition to the latest GDP figures, China also released a slew of other economic data:

Industrial production for September grew 5.8 percent compared to a year ago, missing expectations of a 6 percent expansion by Reuters.

Retail sales for September jumped 9.2 percent compared to the same month last year, beating Reuters’ estimates of a 9 percent increase.

Fixed asset investment for January-to-September grew 5.4 percent year-over-year, beating Reuters’ forecast of a 5.3 percent growth.

Although Beijing’s official GDP figures are tracked as an indicator of the health of the world’s second-largest economy, many outside experts have long expressed skepticism about the veracity of China’s reports.

Nevertheless, any signals about growth are closely watched amid China’s trade fight with the U.S. as the two economic superpowers slap tit-for-tat tariffs on each other’s goods.


Company: cnbc, Activity: cnbc, Date: 2018-10-19  Authors: huileng tan, yen nee lee, vincent isore, getty images
Keywords: news, cnbc, companies, trade, yearoveryear, expectations, growth, financial, worst, data, china, quarter, pace, economy, reports, crisis, chinas, gdp, grew, economic


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How to download a copy of everything Apple knows about you

Apple launched a new privacy website on Wednesday that makes it easier to download a full copy of everything you’ve stored on the company’s servers. You can also delete everything in case you want to move your data from Apple to another company. CNBC has covered how to do this before, but you used to have to send a request saying you wanted to download your data. Apple’s new website makes it even easier. It was originally available in Europe to comply with the EU’s new GDPR privacy law, but now


Apple launched a new privacy website on Wednesday that makes it easier to download a full copy of everything you’ve stored on the company’s servers. You can also delete everything in case you want to move your data from Apple to another company. CNBC has covered how to do this before, but you used to have to send a request saying you wanted to download your data. Apple’s new website makes it even easier. It was originally available in Europe to comply with the EU’s new GDPR privacy law, but now
How to download a copy of everything Apple knows about you Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-18  Authors: todd haselton, stephen lam, magdalena petrova
Keywords: news, cnbc, companies, available, privacy, apple, website, copy, download, knows, makes, easier, data, icloud


How to download a copy of everything Apple knows about you

Apple launched a new privacy website on Wednesday that makes it easier to download a full copy of everything you’ve stored on the company’s servers. You can also delete everything in case you want to move your data from Apple to another company.

CNBC has covered how to do this before, but you used to have to send a request saying you wanted to download your data. Apple’s new website makes it even easier. It was originally available in Europe to comply with the EU’s new GDPR privacy law, but now it’s available in the U.S. You can get a copy of your app usage and activity, your Apple Store (both retail and online) activity, iCloud bookmarks, iCloud Calendars, Notes, a complete copy of your iCloud Drive, iCloud Mail, iCloud Photos and more.

Here’s how.


Company: cnbc, Activity: cnbc, Date: 2018-10-18  Authors: todd haselton, stephen lam, magdalena petrova
Keywords: news, cnbc, companies, available, privacy, apple, website, copy, download, knows, makes, easier, data, icloud


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Crypto M&A is on a tear as deal-makers see opportunity in bitcoin’s price slump

Deal-makers seem to be anything but deterred by bitcoin’s price pain this year — they’re actually using it as an excuse to go bargain hunting. Despite the ongoing bear market in the sector, merger and acquisition activity by cryptocurrency companies among themselves and by companies hunting for bitcoin’s underlying technology is hitting record levels. The count is up significantly from the 47 total deals completed last year, when bitcoin’s price was surging to almost $20,000. The PitchBook data


Deal-makers seem to be anything but deterred by bitcoin’s price pain this year — they’re actually using it as an excuse to go bargain hunting. Despite the ongoing bear market in the sector, merger and acquisition activity by cryptocurrency companies among themselves and by companies hunting for bitcoin’s underlying technology is hitting record levels. The count is up significantly from the 47 total deals completed last year, when bitcoin’s price was surging to almost $20,000. The PitchBook data
Crypto M&A is on a tear as deal-makers see opportunity in bitcoin’s price slump Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-18  Authors: kate rooney, chesnot, getty images
Keywords: news, cnbc, companies, bitcoins, crypto, companies, slump, price, data, cryptocurrency, dealmakers, opportunity, deals, jmp, majority, pitchbook, ma, tear, securities


Crypto M&A is on a tear as deal-makers see opportunity in bitcoin's price slump

Deal-makers seem to be anything but deterred by bitcoin’s price pain this year — they’re actually using it as an excuse to go bargain hunting.

Despite the ongoing bear market in the sector, merger and acquisition activity by cryptocurrency companies among themselves and by companies hunting for bitcoin’s underlying technology is hitting record levels.

Total blockchain and crypto-related deals have surged more than 200 percent at an annualized rate this year, according to data from PitchBook that was compiled by JMP Securities. Bitcoin, meanwhile, has lost 54 percent of its value.

As of Monday, 115 deals involving cryptocurrency or blockchain had been announced, on pace to hit 145 by the end of 2018. The count is up significantly from the 47 total deals completed last year, when bitcoin’s price was surging to almost $20,000.

While JMP didn’t have data on the average size of the deals, since many of the details are private, the firm said a majority of the M&A transactions are global in nature and “relatively small” at less than $100 million. The PitchBook data includes majority investments, partial liquidation and full acquisitions.

Source: JMP Securities


Company: cnbc, Activity: cnbc, Date: 2018-10-18  Authors: kate rooney, chesnot, getty images
Keywords: news, cnbc, companies, bitcoins, crypto, companies, slump, price, data, cryptocurrency, dealmakers, opportunity, deals, jmp, majority, pitchbook, ma, tear, securities


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Asian stocks slip; China leads losses

Stocks in Asia were broadly lower on Thursday, as a Fed report hinted at more rate hikes ahead. The Greater China markets were largely lower, as Hong Kong’s Hang Seng index slipped by 0.47 percent in the afternoon. In Japan, the Nikkei 225 was lower by 0.8 percent to close at 22,658.16, while the Topix index slipped 0.54 percent to end the trading day at 1,704.64. The ASX 200 ended the trading day Down Under slightly higher at 5,942.4. Jobs data in Australia showed employment numbers for the mon


Stocks in Asia were broadly lower on Thursday, as a Fed report hinted at more rate hikes ahead. The Greater China markets were largely lower, as Hong Kong’s Hang Seng index slipped by 0.47 percent in the afternoon. In Japan, the Nikkei 225 was lower by 0.8 percent to close at 22,658.16, while the Topix index slipped 0.54 percent to end the trading day at 1,704.64. The ASX 200 ended the trading day Down Under slightly higher at 5,942.4. Jobs data in Australia showed employment numbers for the mon
Asian stocks slip; China leads losses Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-18  Authors: eustance huang
Keywords: news, cnbc, companies, close, short, trading, showed, china, stocks, leads, slip, losses, asian, data, lower, earlier, slipped, day, fell


Asian stocks slip; China leads losses

Stocks in Asia were broadly lower on Thursday, as a Fed report hinted at more rate hikes ahead.

The Greater China markets were largely lower, as Hong Kong’s Hang Seng index slipped by 0.47 percent in the afternoon.

Over on the mainland, the Shanghai composite dropped by 2.94 percent to close at around 2,486.42 while the Shenzhen composite fell by 2.74 percent to end the trading day at about 1,232.01, with shares of Chinese oil giant PetroChina plunged almost 8 percent.

In Japan, the Nikkei 225 was lower by 0.8 percent to close at 22,658.16, while the Topix index slipped 0.54 percent to end the trading day at 1,704.64. Earlier on Thursday, data showed thatJapan’s exports fell in September for the first time since 2016 as shipments to the United States and China declined, adding to concerns about the broadening impact of an escalating Sino-U.S. trade war.

One economist, however, said the decline in exports was probably “temporary.”

Speaking with CNBC on Thursday, Kazuo Momma, an executive economist at Mizuho Research Institute, said natural disasters had caused “a huge disruption on supply chain and some industry production and also transport in September.”

“I am expecting some fairly reasonable bounce back in October and possibly in November,” he added.

Over in South Korea, the Kospi fell by 0.89 percent to close at 2,148.31, with shares of chipmaker SK Hynix dropping by 2.41 percent. The country’s central bank had earlier opted to keep monetary policy steady.

The ASX 200 ended the trading day Down Under slightly higher at 5,942.4. The heavily weighted financials subindex was 0.45 percent higher, while the energy sector recovered partially from its earlier losses but still saw a decline of 0.15 percent and materials fell by 0.67 percent.

Jobs data in Australia showed employment numbers for the month of September falling short of expectations from a Reuters poll. The unemployment rate declined by 0.3 percent from the previous month to 5.0 percent.

That employment data “is volatile and can have a short term impact on the currency,” said an ANZ Research note in the morning.

“Our bias continues to favour trading AUD with a cautious tone given simmering global risks,” it said.

The Australian dollar was at $0.7126, following a slide from above 0.715 in the previous session.


Company: cnbc, Activity: cnbc, Date: 2018-10-18  Authors: eustance huang
Keywords: news, cnbc, companies, close, short, trading, showed, china, stocks, leads, slip, losses, asian, data, lower, earlier, slipped, day, fell


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Devoted Health, a start-up selling health insurance to seniors, is worth $1.8 billion

Still, it’s not easy to find profits, because so much of the money from the government goes directly into providing coverage, which can be very costly. There are ancillary businesses that insurers can eventually create, like a network of primary care clinics. “The market is huge and disruptive models can do well,” said Andy Slavitt, former acting administrator of the Centers for Medicare and Medicaid Services. Slavitt, who recently started a venture firm, said investors have to be prepared to wr


Still, it’s not easy to find profits, because so much of the money from the government goes directly into providing coverage, which can be very costly. There are ancillary businesses that insurers can eventually create, like a network of primary care clinics. “The market is huge and disruptive models can do well,” said Andy Slavitt, former acting administrator of the Centers for Medicare and Medicaid Services. Slavitt, who recently started a venture firm, said investors have to be prepared to wr
Devoted Health, a start-up selling health insurance to seniors, is worth $1.8 billion Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-17  Authors: christina farr, source
Keywords: news, cnbc, companies, insurance, health, 18, write, devoted, using, venture, slavitt, seniors, way, whos, worth, billion, selling, care, data, startup, ways


Devoted Health, a start-up selling health insurance to seniors, is worth $1.8 billion

Still, it’s not easy to find profits, because so much of the money from the government goes directly into providing coverage, which can be very costly. There are ancillary businesses that insurers can eventually create, like a network of primary care clinics.

“The market is huge and disruptive models can do well,” said Andy Slavitt, former acting administrator of the Centers for Medicare and Medicaid Services. Slavitt, who recently started a venture firm, said investors have to be prepared to write big checks, because “it does take significant risk-based capital.”

Another benefit to emerging companies in the space is that politicians across the aisle approve of it. Republicans like that private plans can offer new types of benefits that aren’t limited by government restraints, and Democrats support it because it provides another way to provide seniors with affordable care.

Investors also see a role for technology. As more seniors are opting to age at home, there are new products being developed for remote patient monitoring that can help keep people out of the hospital, where costs are the highest. And there are innovative ways to use data. Devoted hired DJ Patil, the former U.S. chief data scientist and an ex-LinkedIn technologist, to figure out who’s most likely to get sick in its population using predictive analytics, so care teams know where to focus their attention.

WATCH: Oscar Health CEO says his insurer is consumer friendly


Company: cnbc, Activity: cnbc, Date: 2018-10-17  Authors: christina farr, source
Keywords: news, cnbc, companies, insurance, health, 18, write, devoted, using, venture, slavitt, seniors, way, whos, worth, billion, selling, care, data, startup, ways


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Cramer: The Fed may already be winning the war against inflation and needs to pause the rate hikes

“If there are real pockets of weakness in the economy, then the Fed doesn’t need to tighten four more times,” he said. Instead of trying to overshoot inflation with lockstep rate hikes, Cramer suggested that the Fed take a more measured approach. I’m not saying they need to stop tightening because it’s bad for the stock market. Still the only way to find out if the Fed’s right is to look at the data, Cramer admitted. The housing pain spread quickly through the stock market, with Credit Suisse su


“If there are real pockets of weakness in the economy, then the Fed doesn’t need to tighten four more times,” he said. Instead of trying to overshoot inflation with lockstep rate hikes, Cramer suggested that the Fed take a more measured approach. I’m not saying they need to stop tightening because it’s bad for the stock market. Still the only way to find out if the Fed’s right is to look at the data, Cramer admitted. The housing pain spread quickly through the stock market, with Credit Suisse su
Cramer: The Fed may already be winning the war against inflation and needs to pause the rate hikes Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-17  Authors: elizabeth gurdus
Keywords: news, cnbc, companies, pause, stock, rate, needs, winning, hikes, economy, earnings, cramer, feds, inflation, street, fed, war, data, market


Cramer: The Fed may already be winning the war against inflation and needs to pause the rate hikes

CNBC’s Jim Cramer argued on Wednesday that “mixed” economic data, coupled with more hawkish rhetoric from the Federal Reserve, were to blame for the stock market’s volatile trading session.

“Remember what’s at stake here. We are now in the midst of earnings season, where we can piece together a mosaic of what’s really going on in the economy. If the economy’s fabulous, then the Fed’s current course — one rate hike in December followed by three more next year — is correct,” the “Mad Money” host said after the Fed reaffirmed its rate-hike plans.

But if the economy turns out to be weaker than it appears, then the Fed’s moves could prove dire for both Wall Street and Main Street, he warned.

“If there are real pockets of weakness in the economy, then the Fed doesn’t need to tighten four more times,” he said. “Maybe business has already begun to cool. Maybe they’re well on their way to taming inflation. The point here is that we don’t know.”

Instead of trying to overshoot inflation with lockstep rate hikes, Cramer suggested that the Fed take a more measured approach.

“I’m not saying the Fed’s gone crazy. I’m not saying they need to stop tightening because it’s bad for the stock market. I don’t care about that. I’m simply begging [Fed Chair] Jerome Powell and the rest of the Open Market Committee to take things one rate hike at a time,” he said. “Because from what I’ve seen so far this earnings season, it might make sense to put next year’s three planned rate hikes on hold until we know if the nascent strength is dissipating before our very eyes.”

Still the only way to find out if the Fed’s right is to look at the data, Cramer admitted. And right now, he sees a mixed bag.

First, he pointed to the latest earnings reports from railroad giant CSX and airline operator United Continental, both of which were much stronger than expected and helped the Fed’s case for raising interest rates quickly.

“But … when you assemble the rest of the economic pastiche, you find some areas that are downright hideous,” Cramer said. “Housing starts … fell 5.3 percent. The apologists were out saying, ‘It’s the storms.’ Will you give me a break? That’s a shocking and terrible number.”

The housing pain spread quickly through the stock market, with Credit Suisse subsequently downgrading the stocks of homebuilders KB Home and Lennar as well as home-improvement retailers Home Depot and Lowe’s.

“The pin action from that downgrade crushed all of retail,” Cramer noted. “I don’t like that — you never want to see a retail slowdown ahead of the holidays.”

And while CSX reported strong truck volumes, Cramer noted that the auto industry is experiencing a slowdown, with key suppliers PPG Industries and Trinseo pre-announcing earnings shortfalls and the stocks of Ford and General Motors taking the brunt of the pain.

Regional loan demand is also decelerating, “not a good sign” for an economy that run on credit, the “Mad Money” host said. And lingering in the backdrop is the U.S.-China trade war, which hasn’t yet trickled down to whole swaths of the U.S. economy.

“The tariffs are just now reaching Main Street, and while our retailers will pass on some of their higher costs to the consumer, the rest of it they may have to eat,” Cramer warned. “No matter how much the Fed tightens, they can’t roll back those tariffs.”

All of this told Cramer that the Fed would be best-served by taking a data-dependent approach to interest rates, something the “Mad Money” host has continually preached since the Fed’s most recent rate hike.

“The Fed seems to want to ignore anything negative,” he said. “Instead, they just want to lay down on the tracks of CSX. I’m calling them out as lazy and irresponsible.”

“After the next hike in December, they need to actually look at the data,” he continued. “Remember, this is supposed to be a market where good news is bad news and bad news means the Fed can take a more measured approach. The thing is, that only works if the Fed’s actually paying attention to the data. So we have to hope that our central bankers will be more flexible than they’ve implied they will be.”


Company: cnbc, Activity: cnbc, Date: 2018-10-17  Authors: elizabeth gurdus
Keywords: news, cnbc, companies, pause, stock, rate, needs, winning, hikes, economy, earnings, cramer, feds, inflation, street, fed, war, data, market


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Apple launched a new privacy website that lets you find all the data the company has on you

Apple is moving forward several privacy upgrades Wednesday, including launching a portal that allows customers to search and see what kind of data the company has kept on them. The privacy portal was already tested in the European Union in May, coinciding with the EU’s launch of restrictive privacy legislation called the General Data Protection Legislation (GDPR). The information collected may include data such as calendar entries, photos, reminders, documents, website bookmarks, App Store purch


Apple is moving forward several privacy upgrades Wednesday, including launching a portal that allows customers to search and see what kind of data the company has kept on them. The privacy portal was already tested in the European Union in May, coinciding with the EU’s launch of restrictive privacy legislation called the General Data Protection Legislation (GDPR). The information collected may include data such as calendar entries, photos, reminders, documents, website bookmarks, App Store purch
Apple launched a new privacy website that lets you find all the data the company has on you Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-17  Authors: kate fazzini, getty images
Keywords: news, cnbc, companies, search, company, privacy, money, website, legislation, launched, data, portal, customer, customers, support, apple, lets, model


Apple launched a new privacy website that lets you find all the data the company has on you

Apple is moving forward several privacy upgrades Wednesday, including launching a portal that allows customers to search and see what kind of data the company has kept on them.

The privacy portal was already tested in the European Union in May, coinciding with the EU’s launch of restrictive privacy legislation called the General Data Protection Legislation (GDPR). The information collected may include data such as calendar entries, photos, reminders, documents, website bookmarks, App Store purchases or support history of repairs to your devices, among other items.

The search function, which provides customers a report on their tracked data, fits into a broader narrative as Apple seeks to differentiate itself as a company that makes its money from selling hardware, rather than targeted ads based on the data of its customers.

In March, CEO Tim Cook said in an interview: “The truth is, we could make a ton of money if we monetized our customer — if our customer was our product. We’ve elected not to do that.”

Facebook CEO Mark Zuckerberg followed up those comments with his own, saying Cook was “extremely glib” and argued that Facebook’s business model is “the only rational model that can support building this service to reach people.”


Company: cnbc, Activity: cnbc, Date: 2018-10-17  Authors: kate fazzini, getty images
Keywords: news, cnbc, companies, search, company, privacy, money, website, legislation, launched, data, portal, customer, customers, support, apple, lets, model


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