US markets are set to slip: Dow futures point to a decline of more than 150 points at the open

Futures are indicating that stateside stocks are set for a rocky start to their trading week on Tuesday. That follows declines in the Asian markets and gloomy comments from the ongoing World Economic Forum in Davos. Dow Jones Industrial Average futures declined 162 points, as of 2:55 a.m. Tuesday ET. S&P 500 and Nasdaq futures also pointed to declines for their indexes at the stateside open. The report by the IMF came just hours after China reported its slowest economic growth in almost three de


Futures are indicating that stateside stocks are set for a rocky start to their trading week on Tuesday. That follows declines in the Asian markets and gloomy comments from the ongoing World Economic Forum in Davos. Dow Jones Industrial Average futures declined 162 points, as of 2:55 a.m. Tuesday ET. S&P 500 and Nasdaq futures also pointed to declines for their indexes at the stateside open. The report by the IMF came just hours after China reported its slowest economic growth in almost three de
US markets are set to slip: Dow futures point to a decline of more than 150 points at the open Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-22  Authors: eustance huang
Keywords: news, cnbc, companies, warning, stateside, stocks, set, uk, trade, points, 150, futures, point, economic, imf, dow, markets, open, declines, growth, decline, slip


US markets are set to slip: Dow futures point to a decline of more than 150 points at the open

Futures are indicating that stateside stocks are set for a rocky start to their trading week on Tuesday.

That follows declines in the Asian markets and gloomy comments from the ongoing World Economic Forum in Davos.

Dow Jones Industrial Average futures declined 162 points, as of 2:55 a.m. Tuesday ET. That translated to an implied drop of 153.35 for the Dow at the upcoming open. S&P 500 and Nasdaq futures also pointed to declines for their indexes at the stateside open.

If those implied declines come to fruition, that would be a change of pace for American markets: The Dow notched its first 4-week winning streak since August last Friday. U.S. stocks did not trade on Monday because of Martin Luther King Jr. Day.

Over in Asia, stocks struggled for gains on Tuesday amid concerns about the global economic outlook after the International Monetary Fund (IMF) slashed its global growth forecast on Monday, warning that the economic momentum observed in recent years is decelerating.

The IMF now projects a 3.5 percent growth rate worldwide for 2019 and 3.6 percent for 2020. Those are 0.2 and 0.1 percentage points, respectively, below its last forecasts in October — making it the second downward revision in three months.

The report by the IMF came just hours after China reported its slowest economic growth in almost three decades.

Meanwhile, over in Davos, Switzerland, a prominent U.K. investor sounded an alarm on the market impact of events such as the ongoing China-U.S. trade war and uncertainty surrounding Brexit.

“(There’s) a lot of geopolitical risk between the U.S. and China — certainly we are in a worse place than we were a year ago,” Martin Gilbert, the co-CEO of British investment company Standard Life Aberdeen, told CNBC.

At the same time, the U.K. inches closer to its official departure date from the European Union of March 29 with no deal in sight, leaving the country with the possibility of crashing out of the EU without a formal agreement — something that business leaders and industry experts have been warning about since the negotiations began.

All that comes as the U.S. grapples with its own troubles politically, with the country still mired in its longest-ever government shutdown, which has left about 800,000 federal workers going without pay.

— CNBC’s Silvia Amaro contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-01-22  Authors: eustance huang
Keywords: news, cnbc, companies, warning, stateside, stocks, set, uk, trade, points, 150, futures, point, economic, imf, dow, markets, open, declines, growth, decline, slip


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Global stock markets: Here are the best and worst performers in 2018

Major stock markets across the world suffered their worst calendar year since the financial crisis in 2018, leaving many global investors fearful of further declines over the coming months. Simmering trade tensions between the world’s two largest economies, growing concerns over rising interest rates and pernicious geopolitical issues — such as Brexit — battered financial markets last year. With few of these issues resolved at the turn of the year, many market participants worry there could be e


Major stock markets across the world suffered their worst calendar year since the financial crisis in 2018, leaving many global investors fearful of further declines over the coming months. Simmering trade tensions between the world’s two largest economies, growing concerns over rising interest rates and pernicious geopolitical issues — such as Brexit — battered financial markets last year. With few of these issues resolved at the turn of the year, many market participants worry there could be e
Global stock markets: Here are the best and worst performers in 2018 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-03  Authors: sam meredith, brendan mcdermid, sega volskii, afp, getty images, robert atanasovski afp getty images, buena vista images, digitalvision, thomas janisch, bandar algalour
Keywords: news, cnbc, companies, global, financial, declines, market, worst, issues, performers, markets, best, coming, stock, 2018


Global stock markets: Here are the best and worst performers in 2018

Major stock markets across the world suffered their worst calendar year since the financial crisis in 2018, leaving many global investors fearful of further declines over the coming months.

Simmering trade tensions between the world’s two largest economies, growing concerns over rising interest rates and pernicious geopolitical issues — such as Brexit — battered financial markets last year.

With few of these issues resolved at the turn of the year, many market participants worry there could be even further declines over the coming months.

But, there were some notable exceptions to the general doom and gloom over the past 12 months.

CNBC takes a look at some of the best and worst performing global stock market indexes in U.S. dollar denominated terms for 2018.


Company: cnbc, Activity: cnbc, Date: 2019-01-03  Authors: sam meredith, brendan mcdermid, sega volskii, afp, getty images, robert atanasovski afp getty images, buena vista images, digitalvision, thomas janisch, bandar algalour
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Stock market analysts are bullish on 2019 just because back-to-back annual declines are so rare

The S&P 500 fell 6.2 percent in 2018 to notch its biggest one-year decline since the financial crisis. In 2008, the broad market index plunged 38 percent. The S&P 500 reached record levels in 2018, but also came within a whisker of falling into bear-market territory on a closing basis. Frank Cappelleri, executive director at Instinet, said in a note Wednesday that annual declines are not that rare. In 1954, the S&P 500 surged 45 percent after falling 6.6 percent in 1953, he said.


The S&P 500 fell 6.2 percent in 2018 to notch its biggest one-year decline since the financial crisis. In 2008, the broad market index plunged 38 percent. The S&P 500 reached record levels in 2018, but also came within a whisker of falling into bear-market territory on a closing basis. Frank Cappelleri, executive director at Instinet, said in a note Wednesday that annual declines are not that rare. In 1954, the S&P 500 surged 45 percent after falling 6.6 percent in 1953, he said.
Stock market analysts are bullish on 2019 just because back-to-back annual declines are so rare Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-02  Authors: fred imbert, getty images
Keywords: news, cnbc, companies, rare, stock, market, sp, 2018, gains, index, bullish, annual, 2019, declines, backtoback, 500, investors, analysts, cappelleri


Stock market analysts are bullish on 2019 just because back-to-back annual declines are so rare

2018 was terrible for stocks, but years like that are usually followed by a strong bounce the next year, stock market technical analysts are pointing out.

The S&P 500 fell 6.2 percent in 2018 to notch its biggest one-year decline since the financial crisis. In 2008, the broad market index plunged 38 percent.

Last year’s decline came as investors grappled with tighter monetary policy from the Federal Reserve, fear of a possible economic slowdown and worries over ongoing U.S.-China trade negotiations. It was also a year characterized by volatility. The S&P 500 reached record levels in 2018, but also came within a whisker of falling into bear-market territory on a closing basis.

Frank Cappelleri, executive director at Instinet, said in a note Wednesday that annual declines are not that rare. In fact, they have happened about a third of the time since 1927. “However, only four periods have seen consecutive yearly losses over the last 92 years.”

The only four times in which the S&P 500 has seen consecutive annual declines were in the following time periods, Cappelleri points out:

1929-1932

1939-1941

1973-1974

2000-2003

“For the very long term investors, this is good to remember,” Cappelleri said. “Over time, the risk-reward ratio pay offs. But as 2018 showed us, the risk portion does, in fact, exist and can hurt – badly.”

Craig Johnson, chief market technician at PiperJaffray, also said the last two annual declines that resembled last year’s 6.2 percent drop were followed up with sharp gains the next year.

In 1954, the S&P 500 surged 45 percent after falling 6.6 percent in 1953, he said. The broad index also jumped 26.3 percent in 1991 after sliding 6.56 percent in the previous year.

“The silver lining to last year’s disappointing equity market is that negative returns do not historically carry over into the succeeding year,” Johnson said in a note Wednesday. He also said the “technical setup for the broader market has improved over the last week. The S&P 500 has bounced off support near 2,350.”

To be sure, several of the concerns that plagued investors in 2018 have carried over into the New Year. China and the U.S. are still trying to make progress on the trade front. Forward looking indicators like the Purchasing Managers’ Index from different parts of the world point to slower economic activity moving forward. There are also concerns that corporate earnings growth may slow down after surging in 2018.

“Although there are manifold risks in front of us, we have recently been arguing for an investment stance that is long risk,” said Michael Darda, chief economist and market strategist at MKM Partners.

“Although we do not expect impressive equity returns from the highs of the year, we do expect strong gains from the 2018 lows,” Darda added. “History would suggest 22% gains (or 27% assuming it’s not 1930 or 2008) from the 2018 lows over the course of the next year.”

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Company: cnbc, Activity: cnbc, Date: 2019-01-02  Authors: fred imbert, getty images
Keywords: news, cnbc, companies, rare, stock, market, sp, 2018, gains, index, bullish, annual, 2019, declines, backtoback, 500, investors, analysts, cappelleri


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Hong Kong and Australia close out 2018 with annual declines

Stocks in Asia were mixed on the final day of 2018, as most major markets around the globe were set to record calendar year declines. Hong Kong’s Hang Seng index rose 1.34 percent to finish the trading year at 25,845.70. The day’s gains, however, were unable to offset the index’s performance for 2018 — with it declining about 13.61 percent as compared to its final close of 2017. Hong Kong’s markets closed at 12:00 p.m. HK/SIN today for New Year’s Eve. The benchmark Australian index ended 2018 lo


Stocks in Asia were mixed on the final day of 2018, as most major markets around the globe were set to record calendar year declines. Hong Kong’s Hang Seng index rose 1.34 percent to finish the trading year at 25,845.70. The day’s gains, however, were unable to offset the index’s performance for 2018 — with it declining about 13.61 percent as compared to its final close of 2017. Hong Kong’s markets closed at 12:00 p.m. HK/SIN today for New Year’s Eve. The benchmark Australian index ended 2018 lo
Hong Kong and Australia close out 2018 with annual declines Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-31  Authors: eustance huang
Keywords: news, cnbc, companies, 2018, kong, markets, today, annual, declines, index, rose, closed, final, australia, kongs, major, hong, close


Hong Kong and Australia close out 2018 with annual declines

Stocks in Asia were mixed on the final day of 2018, as most major markets around the globe were set to record calendar year declines.

Hong Kong’s Hang Seng index rose 1.34 percent to finish the trading year at 25,845.70. The day’s gains, however, were unable to offset the index’s performance for 2018 — with it declining about 13.61 percent as compared to its final close of 2017. Hong Kong’s markets closed at 12:00 p.m. HK/SIN today for New Year’s Eve.

The ASX 200 in Australia, meanwhile, slipped 0.14 percent to close out 2018 at 5,646.40. The benchmark Australian index ended 2018 lower by 6.9 percent as compared to its final close of 2017. Australia’s markets closed at 11:10 a.m. HK/SIN today for New Year’s Eve.

On Monday, the materials subindex Down Under gained 0.4 percent, as shares of major miners advanced. Rio Tinto rose 0.50 percent, Fortescue advanced 1.21 percent and BHP Billiton climbed up by 0.82 percent.

Markets in Japan, South Korea and mainland China were closed.


Company: cnbc, Activity: cnbc, Date: 2018-12-31  Authors: eustance huang
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Japan leads declines amid broad slip in Asian stocks

Stocks in Asia were broadly lower on Friday, with Japanese equities leading the fall. Shares of Japanese banks fell on the back of the Bank of Japan’s decision on Thursday to keep interest rate targets unchanged. Mitsubishi UFJ Financial Group shed 2.22 percent while Sumitomo Mitsui Financial Group dropped 2.21 percent. Japanese banks have suffered as a result of the central bank’s loose monetary policy, which has had the side effect of impacting the revenues of the country’s lenders. In Austral


Stocks in Asia were broadly lower on Friday, with Japanese equities leading the fall. Shares of Japanese banks fell on the back of the Bank of Japan’s decision on Thursday to keep interest rate targets unchanged. Mitsubishi UFJ Financial Group shed 2.22 percent while Sumitomo Mitsui Financial Group dropped 2.21 percent. Japanese banks have suffered as a result of the central bank’s loose monetary policy, which has had the side effect of impacting the revenues of the country’s lenders. In Austral
Japan leads declines amid broad slip in Asian stocks Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-21  Authors: eustance huang
Keywords: news, cnbc, companies, japan, leads, fell, amid, declines, stocks, earlier, asian, banks, nikkei, japanese, broad, trading, group, lower, financial, slip, australia


Japan leads declines amid broad slip in Asian stocks

Stocks in Asia were broadly lower on Friday, with Japanese equities leading the fall.

The Nikkei 225 fell 1.11 percent on the day as it closed at 20,166.19, while the Topix index declined by 1.91 percent to finish its trading week at 1,488.19. The benchmark Nikkei 225 dropped more than 2.5 percent in the previous trading session.

Shares of Japanese banks fell on the back of the Bank of Japan’s decision on Thursday to keep interest rate targets unchanged. Mitsubishi UFJ Financial Group shed 2.22 percent while Sumitomo Mitsui Financial Group dropped 2.21 percent. Japanese banks have suffered as a result of the central bank’s loose monetary policy, which has had the side effect of impacting the revenues of the country’s lenders.

Over in South Korea, the Kospi recovered from earlier losses to close slightly higher at 2,061.49 — up 0.07 percent.

In Australia, the ASX 200 lost its earlier gains to close 0.69 percent lower at 5,467.6, with most sectors slipping. Shares of the country’s so-called Big Four banks declined, with Australia and New Zealand Banking Group, Westpac and National Australia Bank all seeing declines of at least 1 percent.


Company: cnbc, Activity: cnbc, Date: 2018-12-21  Authors: eustance huang
Keywords: news, cnbc, companies, japan, leads, fell, amid, declines, stocks, earlier, asian, banks, nikkei, japanese, broad, trading, group, lower, financial, slip, australia


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Asian stocks take a breather after days of declines

The hard-hit mainland Chinese markets ended the trading day mostly unchanged, with both the Shanghai composite and the Shenzhen composite largely flat at around 2,605.89 and about 1,350.70, respectively. Shares of Softbank, which saw significant declines in the previous trading day, extended losses as it fell 2.09 percent on the day. The ASX 200 in Australia rose 0.42 percent to close at 5,681.50, with almost sectors in positive territory. That was a rebound from Thursday, when the index saw dec


The hard-hit mainland Chinese markets ended the trading day mostly unchanged, with both the Shanghai composite and the Shenzhen composite largely flat at around 2,605.89 and about 1,350.70, respectively. Shares of Softbank, which saw significant declines in the previous trading day, extended losses as it fell 2.09 percent on the day. The ASX 200 in Australia rose 0.42 percent to close at 5,681.50, with almost sectors in positive territory. That was a rebound from Thursday, when the index saw dec
Asian stocks take a breather after days of declines Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-07  Authors: eustance huang
Keywords: news, cnbc, companies, breather, day, days, stocks, australia, asian, declines, gained, shares, saw, index, close, rose, trading


Asian stocks take a breather after days of declines

Shares in Asia were mostly higher on Friday on the back of a report suggesting the U.S. Federal Reserve could consider a slower tempo of increasing interest rates than had been previously expected.

The hard-hit mainland Chinese markets ended the trading day mostly unchanged, with both the Shanghai composite and the Shenzhen composite largely flat at around 2,605.89 and about 1,350.70, respectively.

Meanwhile, the Hang Seng index in Hong Kong traded down by around 0.1 percent as of its final hour of trade.

Japan’s Nikkei 225 rose 0.82 percent to close at 21,678.68 while the Topix index gained 0.61 percent to finish the trading week at 1,620.45.

Shares of Softbank, which saw significant declines in the previous trading day, extended losses as it fell 2.09 percent on the day. The company had earlier announced that there was no change in its earnings and dividend forecasts after a mobile service outage on Thursday.

Over in South Korea, the Kospi gained 0.34 percent to close at 2,075.76, with shares of chipmaker SK Hynix rising 1.21 percent.

The ASX 200 in Australia rose 0.42 percent to close at 5,681.50, with almost sectors in positive territory. That was a rebound from Thursday, when the index saw declines amid a broader sell-off across the Asia Pacific region.

Shares of Australia’s so-called Big Four banks saw gains on the day. Australia and New Zealand Banking Group rose 0.16 percent, Commonwealth Bank of Australia gained 1.00 percent while Westpac advanced 0.23 percent and National Australia Bank climbed up by 0.25 percent.


Company: cnbc, Activity: cnbc, Date: 2018-12-07  Authors: eustance huang
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A look at past declines in Apple’s stock indicates this rout has further to go

Sacconaghi looked at the last three times in the past decade when Apple’s stock has unperformed. Of the lessons to be learned from prior stock downturns, Sacconaghi said Apple’s stock is “typically anticipatory of estimate declines,” as well as has a high correlation to Wall Street’s “next-12-month EPS estimates.” “Perhaps most importantly, Apple’s stock price has historically bottomed only once sell-side EPS estimates have bottomed,” Sacconaghi said. “We should note that neither our current est


Sacconaghi looked at the last three times in the past decade when Apple’s stock has unperformed. Of the lessons to be learned from prior stock downturns, Sacconaghi said Apple’s stock is “typically anticipatory of estimate declines,” as well as has a high correlation to Wall Street’s “next-12-month EPS estimates.” “Perhaps most importantly, Apple’s stock price has historically bottomed only once sell-side EPS estimates have bottomed,” Sacconaghi said. “We should note that neither our current est
A look at past declines in Apple’s stock indicates this rout has further to go Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-28  Authors: michael sheetz, bernd thissen, afp, getty images
Keywords: news, cnbc, companies, rout, sacconaghi, look, declines, estimates, indicates, cycle, apples, past, stock, wall, earnings, current, iphone, streets


A look at past declines in Apple's stock indicates this rout has further to go

Apple shares have lost more than quarter of their value in less than two months, but one of Wall Street’s top analysts on the stock explained why history is against a turnaround any time soon.

“Sell-side estimates have only been revised downwards by -0.8% so far, and history suggests that the stock is unlikely to inflect until estimates stop coming down,” Bernstein’s Toni Sacconaghi said in a note to investors Wednesday.

Sacconaghi looked at the last three times in the past decade when Apple’s stock has unperformed. The three downturns Sacconaghi identified are tied to the life cycle of iPhone products: The iPhone 5, the iPhone 6S and the beginning of the iPhone X. Of the lessons to be learned from prior stock downturns, Sacconaghi said Apple’s stock is “typically anticipatory of estimate declines,” as well as has a high correlation to Wall Street’s “next-12-month EPS estimates.”

“Perhaps most importantly, Apple’s stock price has historically bottomed only once sell-side EPS estimates have bottomed,” Sacconaghi said.

Apple’s full year 2019 earnings are about $12.34 a share when comparing the current product cycle to the iPhone 6S cycle in 2016, according to Sacconaghi. Those earnings would be about 7 percent below Wall Street’s current consensus for next year, Sacconaghi said.

Bernstein’s analysis does not include any potential hits to Apple from tariffs. The company’s stock slid on Tuesday after President Donald Trump suggested the U.S. could place a 10 percent tariff on iPhones and laptops made in China.

“We should note that neither our current estimates nor our downside scenario incorporates any potential impact from tariffs,” Sacconaghi said.

Apple shares have fallen more than 20 percent this month as of Tuesday’s close of $174.24 a share.

Bottom line: Until analysts are done cutting their earnings expectations on the stock, expect more weakness.

WATCH: Apple’s stock is plunging – Here’s what six experts say investors should know


Company: cnbc, Activity: cnbc, Date: 2018-11-28  Authors: michael sheetz, bernd thissen, afp, getty images
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LA prosecutor declines felony abuse case against Stormy Daniels’ attorney Michael Avenatti

The Los Angeles district attorney declined to prosecute attorney Michael Avenatti on felony domestic abuse charges on Wednesday and referred allegations that he roughed up his girlfriend to the city attorney for a possible misdemeanor case. A restraining order against Avenatti was issued after actress Mareli Miniutti said he dragged her by the arm across a bedroom floor. A spokeswoman for the district attorney would not say why prosecutors declined to take the case from Los Angeles police. Docum


The Los Angeles district attorney declined to prosecute attorney Michael Avenatti on felony domestic abuse charges on Wednesday and referred allegations that he roughed up his girlfriend to the city attorney for a possible misdemeanor case. A restraining order against Avenatti was issued after actress Mareli Miniutti said he dragged her by the arm across a bedroom floor. A spokeswoman for the district attorney would not say why prosecutors declined to take the case from Los Angeles police. Docum
LA prosecutor declines felony abuse case against Stormy Daniels’ attorney Michael Avenatti Cached Page below :
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LA prosecutor declines felony abuse case against Stormy Daniels' attorney Michael Avenatti

The Los Angeles district attorney declined to prosecute attorney Michael Avenatti on felony domestic abuse charges on Wednesday and referred allegations that he roughed up his girlfriend to the city attorney for a possible misdemeanor case.

Avenatti, 47, was arrested on suspicion of felony domestic violence last week after his girlfriend told police he abused her at his Los Angeles apartment following an argument.

A restraining order against Avenatti was issued after actress Mareli Miniutti said he dragged her by the arm across a bedroom floor.

Avenatti, who had called the allegations “completely false” and a fabrication, said in a statement he was thankful the district attorney had rejected the charges and was “especially grateful for justice” at Thanksgiving.

“I am completely innocent. I have absolute faith in the system that I will be fully exonerated,” Avenatti told The Associated Press. “This whole thing is bogus.”

A spokeswoman for the district attorney would not say why prosecutors declined to take the case from Los Angeles police. Documents supporting the decision were not released because the case was referred to the city attorney and was still under investigation.

The city attorney’s office will review the case, a spokesman said.

Avenatti, who is mulling a presidential run, is best known as the attorney for porn actress Stormy Daniels, who has said she had an affair with President Donald Trump in 2006, a claim Trump denies.

As Daniels’ lawyer, Avenatti has pursued the president and those close to him relentlessly for months, taunting Trump in interviews and baiting him and his lawyers in tweets.

Miniutti said in her request for a restraining order that she was wearing only a T-shirt and underwear when Avenatti grabbed her by the arm and dragged her out of the bed. She said she was scratched on her side and leg. Court papers include photographs that appear to show bruises.

The order was granted Monday.

Attorneys for the legal aid group that represents Miniutti declined to comment.

Avenatti said that he would be vindicated once footage from security cameras in the building was reviewed, even though the violence described by Miniutti would not have occurred in the building’s public areas.


Company: cnbc, Activity: cnbc, Date: 2018-11-21  Authors: getty images
Keywords: news, cnbc, companies, stormy, daniels, attorney, miniutti, los, michael, declines, order, la, district, declined, avenatti, trump, city, prosecutor, felony, case


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Cramer: Charts forecast further declines for oil prices and stocks

“You have tons of money managers with staggering losses in, say, the oil futures,” Cramer said on “Mad Money.” Oil prices fell sharply Tuesday on fears of a supply glut and a slowing economy, with U.S. West Texas Intermediate crude hitting a one-year low. Crude futures have dropped dramatically in the last month as U.S. crude prices plunged as much as 30 percent from a four-year high. That’s why Garner’s been warning us nearly all year that lower oil prices could be in the cards,” Cramer said. A


“You have tons of money managers with staggering losses in, say, the oil futures,” Cramer said on “Mad Money.” Oil prices fell sharply Tuesday on fears of a supply glut and a slowing economy, with U.S. West Texas Intermediate crude hitting a one-year low. Crude futures have dropped dramatically in the last month as U.S. crude prices plunged as much as 30 percent from a four-year high. That’s why Garner’s been warning us nearly all year that lower oil prices could be in the cards,” Cramer said. A
Cramer: Charts forecast further declines for oil prices and stocks Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-20  Authors: elizabeth gurdus
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Cramer: Charts forecast further declines for oil prices and stocks

Extreme volatility in the energy market could be one of the less obvious causes of the stock market’s broad-based sell-off, and there could be more pain to come, CNBC’s Jim Cramer warned Tuesday as the Dow Jones Industrial Average erased its gains for the year.

“You can’t understand this breakdown in the stock market unless you recognize that we’re seeing some spillover from the carnage in the oil futures,” he said after consulting with his top commodity expert, Carley Garner.

“You have tons of money managers with staggering losses in, say, the oil futures,” Cramer said on “Mad Money.” “If their investors want out or they just need to raise capital to meet the broker’s margin calls, they need to sell something, and that often is stocks.”

Oil prices fell sharply Tuesday on fears of a supply glut and a slowing economy, with U.S. West Texas Intermediate crude hitting a one-year low. Crude futures have dropped dramatically in the last month as U.S. crude prices plunged as much as 30 percent from a four-year high.

Garner, the co-founder of DeCarley Trading and author of Higher Probability Commodity Trading, “believes much of the recent weakness in equities can actually be blamed on shortsighted managers liquidating stocks to pay for these commodity market margin calls,” Cramer said. “By the way, that’s why you should never, ever buy anything on margin.”

And Garner doesn’t think oil prices are out of the woods yet. Besides the fact that the end of the year tends to be tough for oil prices, which usually peak in October and hit bottom in January or February, she worried that too many investors are still heavily invested in oil futures.

According to the Commodity Futures Trading Commission’s “Commitments of Traders” report, money managers, small speculators and commercial hedgers still have substantial long positions in West Texas crude futures, she noted.

“This has been a very crowded trade for a long time. That’s why Garner’s been warning us nearly all year that lower oil prices could be in the cards,” Cramer said. “Large speculators were net long roughly 230,000 contracts as of this latest reading. […] That’s down dramatically from 730,000 at the peak — the largest net long position, by the way, in history (how wrong were those people?) — it’s not down enough to make Garner believe we’re ready to bottom.”

Adding to that, the Consensus Bullish Index, a sentiment gauge, suggests that investors could still get more negative on oil, Garner said. Considering the past swings she’s seen in oil prices, she said the commodity still has more downside, with one floor of support at $51 a barrel and another at $42.

“Here’s the problem: despite the recent meltdown, Garner points out that the oil futures, amazingly, are still not oversold, meaning they haven’t actually gone down so far so fast that they’re due for a bounce,” the “Mad Money” host said.

And while Garner doesn’t think it’s very likely that oil prices fall to the low $40s — where Cramer has predicted they could go — she warned that the $51 level will only hold if the fundamentals of the oil space significantly improve.

All in all, her charts “suggest that oil could have some more downside, which therefore could lead to still more … selling of stock because of the margin calls,” Cramer said. “You know what? Maybe this will help the Fed to adopt my one-and-wait stance.”


Company: cnbc, Activity: cnbc, Date: 2018-11-20  Authors: elizabeth gurdus
Keywords: news, cnbc, companies, crude, charts, cramer, prices, oil, commodity, declines, money, forecast, long, trading, garner, stocks, futures


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Cramer explains the Apple-led sell-off and what could stop the declines

The Apple-led sell-off and what could stop the declines 4 Hours Ago | 01:23Stocks will only recover from Monday’s dramatic sell-off if seven key things happen to brighten the outlook for the broader market, CNBC’s Jim Cramer said as the major averages pulled back. “The thinking behind today’s action is surprisingly simple: money managers are buying the winners and selling the losers,” he said on “Mad Money.” “Unfortunately, there are a heck of a lot more losers than winners, and I want to put th


The Apple-led sell-off and what could stop the declines 4 Hours Ago | 01:23Stocks will only recover from Monday’s dramatic sell-off if seven key things happen to brighten the outlook for the broader market, CNBC’s Jim Cramer said as the major averages pulled back. “The thinking behind today’s action is surprisingly simple: money managers are buying the winners and selling the losers,” he said on “Mad Money.” “Unfortunately, there are a heck of a lot more losers than winners, and I want to put th
Cramer explains the Apple-led sell-off and what could stop the declines Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-12  Authors: elizabeth gurdus
Keywords: news, cnbc, companies, winners, stop, unfortunately, declines, explains, appleled, losers, yearhere, unusual, selloff, money, things, cramer, todays


Cramer explains the Apple-led sell-off and what could stop the declines

The Apple-led sell-off and what could stop the declines 4 Hours Ago | 01:23

Stocks will only recover from Monday’s dramatic sell-off if seven key things happen to brighten the outlook for the broader market, CNBC’s Jim Cramer said as the major averages pulled back.

“The thinking behind today’s action is surprisingly simple: money managers are buying the winners and selling the losers,” he said on “Mad Money.” “Unfortunately, there are a heck of a lot more losers than winners, and I want to put that into context because such behavior, frankly, is highly unusual this close to the end of the year.”

Here are the things Cramer says will allow stocks to reverse course:


Company: cnbc, Activity: cnbc, Date: 2018-11-12  Authors: elizabeth gurdus
Keywords: news, cnbc, companies, winners, stop, unfortunately, declines, explains, appleled, losers, yearhere, unusual, selloff, money, things, cramer, todays


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