Dollar dips after Trump says US should play ‘currency manipulation game’ like Europe, China

President Donald Trump reacts as he walks with the President of the European Council Donald Tusk (not pictured) after a meeting in Brussels, Belgium, May 25, 2017. The greenback fell Wednesday after President Donald Trump said in a tweet that the U.S. should match China and Europe’s “currency manipulation game.” “China and Europe playing big currency manipulation game and pumping money into their system in order to compete with USA,” Trump said on Twitter. The president’s attack on what he views


President Donald Trump reacts as he walks with the President of the European Council Donald Tusk (not pictured) after a meeting in Brussels, Belgium, May 25, 2017. The greenback fell Wednesday after President Donald Trump said in a tweet that the U.S. should match China and Europe’s “currency manipulation game.” “China and Europe playing big currency manipulation game and pumping money into their system in order to compete with USA,” Trump said on Twitter. The president’s attack on what he views
Dollar dips after Trump says US should play ‘currency manipulation game’ like Europe, China Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-03  Authors: thomas franck
Keywords: news, cnbc, companies, unfair, game, dollar, president, china, trade, donald, play, trump, manipulation, currency, europe, treasury, dips, report


Dollar dips after Trump says US should play 'currency manipulation game' like Europe, China

President Donald Trump reacts as he walks with the President of the European Council Donald Tusk (not pictured) after a meeting in Brussels, Belgium, May 25, 2017.

The greenback fell Wednesday after President Donald Trump said in a tweet that the U.S. should match China and Europe’s “currency manipulation game.”

“China and Europe playing big currency manipulation game and pumping money into their system in order to compete with USA,” Trump said on Twitter. “We should MATCH, or continue being the dummies who sit back and politely watch as other countries continue to play their games – as they have for many years!”

The U.S. Dollar Index, a basket of the greenback vs. major currencies, slid into the red following the Trump tweet before recovering.

“He’s amplifying a move that to me is happening anyway, for the right reasons,” said Mark McCormick, FX strategist at TD Securities.

“It’s pretty clear the currency is definitely a focus … you have some new Fed nominees which lean on the dovish side, you have the Fed ready to cut rates, you have a slowing U.S. economy,” McCormick added. “There’s a period here where the currency is going to weaken on these things.”

The president’s attack on what he views as unfair tinkering by China and Europe came less than two months after the administration declined to label China a currency manipulator. That decision came despite Trump’s complaints that Beijing unfairly devalues its currency, contributing to the outstanding trade deficit between the world’s two largest economies.

The Treasury Department, led by Secretary Steven Mnuchin, said in May that no country met the criteria to be formally considered as one seeking to gain unfair trade advantages over the U.S. by toying with its currency. But the report also said that nine nations — including China, Germany, Ireland, Italy, and Japan — are on its monitoring list.

The Treasury Department did not immediately respond to CNBC’s request for comment.

Chinese officials in 2018 reintroduced measures to stabilize its managed currency, aimed at keeping the yuan’s daily midpoint fixed to a relatively stable value. China has faced international pressure in the past for what other world leaders considered unfair manipulation of its currency.

A devalued currency can boost one nation’s exports as the decline in the currency makes that country’s goods cheaper.

— CNBC’s Patti Domm contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-07-03  Authors: thomas franck
Keywords: news, cnbc, companies, unfair, game, dollar, president, china, trade, donald, play, trump, manipulation, currency, europe, treasury, dips, report


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VW truck unit Traton dips below opening price on stock market debut

Volkswagen’s truck unit Traton dipped below its opening share price of 27.00 euros a share on Friday morning following its initial public offering (IPO) on the Frankfurt exchange. The German carmaker matched the placement price of 27 euros a share at the opening bell, the lower end of its previous range, but shares traded around 26.47 euros shortly afterwards. Shaky sentiment for new listings was evident this week as Global Fashion Group on Wednesday drastically cut its IPO offering price in a l


Volkswagen’s truck unit Traton dipped below its opening share price of 27.00 euros a share on Friday morning following its initial public offering (IPO) on the Frankfurt exchange. The German carmaker matched the placement price of 27 euros a share at the opening bell, the lower end of its previous range, but shares traded around 26.47 euros shortly afterwards. Shaky sentiment for new listings was evident this week as Global Fashion Group on Wednesday drastically cut its IPO offering price in a l
VW truck unit Traton dips below opening price on stock market debut Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-28  Authors: elliot smith
Keywords: news, cnbc, companies, market, stock, global, traton, unit, truck, offering, share, vw, dips, debut, euros, ipo, opening, price, range


VW truck unit Traton dips below opening price on stock market debut

Volkswagen’s truck unit Traton dipped below its opening share price of 27.00 euros a share on Friday morning following its initial public offering (IPO) on the Frankfurt exchange.

The German carmaker matched the placement price of 27 euros a share at the opening bell, the lower end of its previous range, but shares traded around 26.47 euros shortly afterwards.

The company said earlier this month that it aimed to raise 1.55-1.9 billion euros ($1.8-$2.2 billion) by selling between 10% and 11.5% of the wholly-owned subsidiary, having cut earlier aspirations to list as much as a 25% stake.

Volkswagen plans to invest the proceeds in an overhaul of its auto production, as it prepares to launch a range of electric vehicles and strengthens an alliance with U.S. stalwart Ford Motor Co.

The IPO was delayed in March, with VW citing jittery markets. Shaky sentiment for new listings was evident this week as Global Fashion Group on Wednesday drastically cut its IPO offering price in a last ditch attempt to draw investors.

“We have a really great setup, we have a powerful brand … We are prepared to transform the transportation,” Andreas Renschler, CEO of Traton, told CNBC’s Annette Weisbach.

Renschler said the next six to nine months was likely to be pretty stable for the truck market in Europe. He warned that a lot of things are unknown in the current environment, noting the U.S -China trade war, but said companies needed to take the opportunities that were still evident in the global economy.


Company: cnbc, Activity: cnbc, Date: 2019-06-28  Authors: elliot smith
Keywords: news, cnbc, companies, market, stock, global, traton, unit, truck, offering, share, vw, dips, debut, euros, ipo, opening, price, range


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10-year Treasury yield dips back under 2% ahead of Powell speech

The yield on the benchmark 10-year Treasury note fell below 2% in overnight trading Tuesday as investors looked ahead to a speech from Federal Reserve Chairman Jerome Powell. ET, the yield on the benchmark 10-year Treasury note, which moves inversely to price, was lower at around 2.009%, up from lows under 2% hit around 2 a.m. The yield on the 3-month Treasury bill rose slightly to 2.128%, while the 2-year Treasury returned 1.738%. Fed Chairman Jerome Powell will speak at the Council on Foreign


The yield on the benchmark 10-year Treasury note fell below 2% in overnight trading Tuesday as investors looked ahead to a speech from Federal Reserve Chairman Jerome Powell. ET, the yield on the benchmark 10-year Treasury note, which moves inversely to price, was lower at around 2.009%, up from lows under 2% hit around 2 a.m. The yield on the 3-month Treasury bill rose slightly to 2.128%, while the 2-year Treasury returned 1.738%. Fed Chairman Jerome Powell will speak at the Council on Foreign
10-year Treasury yield dips back under 2% ahead of Powell speech Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-25  Authors: thomas franck
Keywords: news, cnbc, companies, note, ahead, meeting, speech, yield, 10year, trade, president, speak, et, dips, treasury, powell


10-year Treasury yield dips back under 2% ahead of Powell speech

The yield on the benchmark 10-year Treasury note fell below 2% in overnight trading Tuesday as investors looked ahead to a speech from Federal Reserve Chairman Jerome Powell.

At 7:39 a.m. ET, the yield on the benchmark 10-year Treasury note, which moves inversely to price, was lower at around 2.009%, up from lows under 2% hit around 2 a.m. ET. The yield on the 3-month Treasury bill rose slightly to 2.128%, while the 2-year Treasury returned 1.738%.

Fed Chairman Jerome Powell will speak at the Council on Foreign Relations, starting at 1 p.m. ET. New York Fed President John Williams will also speak at 8:45 a.m. ET.

While economists including Bank of America’s Ethan Harris told CNBC that Powell’s speech is likely to be more about big-picture assessment and the central bank’s challenges, many will be waiting to see if the Fed chief will field questions about political influence.

He may also comment on the upcoming G-20 meeting in Osaka, Japan, where the U.S. and China are set to discuss trade deal terms. Others will watch to see if Powell gives any indication as to whether he believes the central bank should cut interest rates in July.

Traders are monitoring tensions between Iran and the U.S., after the latter announced sanctions against Tehran. At the same time, there’s also some focus on trade talks between China and Washington ahead of a G-20 meeting later this week, where both President Trump and President Xi are due to meet.

On the data front, there will be new home sales and consumer confidence figures out at 10 a.m. ET. Meanwhile, the Treasury is due to auction $40 billion in 2-year notes.


Company: cnbc, Activity: cnbc, Date: 2019-06-25  Authors: thomas franck
Keywords: news, cnbc, companies, note, ahead, meeting, speech, yield, 10year, trade, president, speak, et, dips, treasury, powell


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Gold dips slightly on profit booking, US-China trade optimism

Gold prices dipped slightly on Tuesday as investors booked profits following robust gains over the past weeks, while rising hopes of a trade deal between China and the United States lifted equities. Spot gold dipped slightly to $1,327.41 per ounce. Global Investors, adding that strong gains last week prompted some profit booking. Lower interest rates reduce the opportunity cost of holding nonyielding bullion and weigh on the dollar. “I dont think it (gold prices) has the fundamentals to move muc


Gold prices dipped slightly on Tuesday as investors booked profits following robust gains over the past weeks, while rising hopes of a trade deal between China and the United States lifted equities. Spot gold dipped slightly to $1,327.41 per ounce. Global Investors, adding that strong gains last week prompted some profit booking. Lower interest rates reduce the opportunity cost of holding nonyielding bullion and weigh on the dollar. “I dont think it (gold prices) has the fundamentals to move muc
Gold dips slightly on profit booking, US-China trade optimism Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-11
Keywords: news, cnbc, companies, uschina, tariffs, optimism, rates, gold, gains, prices, trade, president, slightly, profit, investors, ounce, booking, interest, dips


Gold dips slightly on profit booking, US-China trade optimism

Gold prices dipped slightly on Tuesday as investors booked profits following robust gains over the past weeks, while rising hopes of a trade deal between China and the United States lifted equities.

However, increasing expectations the U.S. Federal Reserve would proceed with an interest rate cut this year pressured the dollar, supporting bullion rates.

Spot gold dipped slightly to $1,327.41 per ounce. Prices had hit a 14-month high of $1,348.08 on June 7.

U.S. gold futures settled 0.1% higher at $1,328.50 per ounce.

With fears easing that the United States would impose trade tariffs with Mexico, investors are now optimistic that U.S. President Donald Trump could shelve threats to impose more tariffs on China as well. He is expected to meet with President Xi Jingping at a Group of 20 summit on June 28-29.

“People think there is going to be a sort-of resolution at the end of this month with tariffs when President Trump meets with Xi,” said Michael Matousek, head trader at U.S. Global Investors, adding that strong gains last week prompted some profit booking.

The trade dispute between Beijing and Washington has toppled markets since its inception more than a year ago and raised concerns of a global economic slowdown, prompting central banks around the world to keep a hold on interest rates.

“The rhetoric around Fed rates cut is weakening the dollar, which will help drive gold,” Matousek said. Lower interest rates reduce the opportunity cost of holding nonyielding bullion and weigh on the dollar.

Investors now see the U.S. Federal Reserve cutting rates as well, with Fed fund futures now pricing in more than two 25-basis point rate cuts by year-end.

Markets await consumer price index data on Wednesday, closely watched by the Fed as an inflation indicator, and Retail sales on Friday for indication on whether tariffs are slowing the economy.

“Stronger equity markets has drawn money away from gold,” said Rob Lutts, chief investment officer at Cabot Wealth Management. “I dont think it (gold prices) has the fundamentals to move much higher. It has exhausted its run right here.”

Other precious metals did not resonate with bullion’s move, with silver up 0.6% at $14.75 per ounce and platinum gaining nearly 1% to $809.50 per ounce.

Among other precious metals, palladium extended gains for a fourth straight session, climbing 0.9% to a six-week high at $1,395.01 per ounce.


Company: cnbc, Activity: cnbc, Date: 2019-06-11
Keywords: news, cnbc, companies, uschina, tariffs, optimism, rates, gold, gains, prices, trade, president, slightly, profit, investors, ounce, booking, interest, dips


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Oil dips 11 cents, settling at $62.99, as US-China trade war offsets Middle East tension

Oil futures were little changed on Tuesday, supported by U.S.-Iran tensions and expectations of ongoing OPEC supply cuts but under pressure from concerns about a drawn-out trade war between Washington and Beijing. “The two powerful countervailing forces in the market right now are the Iran tensions versus the deteriorating U.S.-China trade war situation,” said John Kilduff, a partner at Again Capital in New York. The trade war “really hits the Asian economies and the demand outlook, and this sit


Oil futures were little changed on Tuesday, supported by U.S.-Iran tensions and expectations of ongoing OPEC supply cuts but under pressure from concerns about a drawn-out trade war between Washington and Beijing. “The two powerful countervailing forces in the market right now are the Iran tensions versus the deteriorating U.S.-China trade war situation,” said John Kilduff, a partner at Again Capital in New York. The trade war “really hits the Asian economies and the demand outlook, and this sit
Oil dips 11 cents, settling at $62.99, as US-China trade war offsets Middle East tension Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-21
Keywords: news, cnbc, companies, washington, settling, prices, iran, oil, uschina, trade, dips, futures, tension, crude, east, offsets, opec, middle, market, war


Oil dips 11 cents, settling at $62.99, as US-China trade war offsets Middle East tension

A truck used to carry sand for fracking is washed in a truck stop in Odessa, Texas.

Oil futures were little changed on Tuesday, supported by U.S.-Iran tensions and expectations of ongoing OPEC supply cuts but under pressure from concerns about a drawn-out trade war between Washington and Beijing.

“The two powerful countervailing forces in the market right now are the Iran tensions versus the deteriorating U.S.-China trade war situation,” said John Kilduff, a partner at Again Capital in New York.

The trade war “really hits the Asian economies and the demand outlook, and this situation with Iran has the market on tenterhooks at the same time,” Kilduff said.

Brent crude futures, the international benchmark for oil prices, rose 6 cents to $72.03 per barrel around 2:35 p.m. ET (1835 GMT). U.S. West Texas Intermediate crude futures settled 11 cents lower at $62.99 per barrel.

The prolonged tariff fight between the United States and China raised concerns about a global economic slowdown and dampened market sentiment.

Signs that Asian economies were already getting hit by the trade conflict helped to boost the U.S. dollar, making crude more expensive.

On Monday, U.S. President Donald Trump threatened Iran with “great force” if it attacked U.S. interests in the Middle East. Washington suspects that militia with ties to Iran organized a rocket attack in Iraq’s capital Baghdad.

On Tuesday, Iran said it would resist U.S. pressure, declining further talks under current circumstances.

Iraq’s oil minister said growing tension in the Middle East poses a challenge to the stability of global crude oil markets and said OPEC must pave the way for a “new agreement” to help stability and support prices. He did not elaborate.

Tensions have mounted during an already tight market as the OPEC, Russia and other producers have with held supply to support prices. Saudi Arabia has signaled its willingness to continue curbing output until the end of the year.


Company: cnbc, Activity: cnbc, Date: 2019-05-21
Keywords: news, cnbc, companies, washington, settling, prices, iran, oil, uschina, trade, dips, futures, tension, crude, east, offsets, opec, middle, market, war


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Palladium eyes biggest fall in two years; gold dips on US data

Palladium on Monday slumped about 7 percent, its biggest daily percentage drop in over two-years, while gold also fell as strong U.S. data improved investors’ appetite for riskier assets ahead of the U.S. Federal Reserve policy meeting. Spot palladium slid about 6.7 percent to $1,366.01 per ounce. It fell as much as 7 percent to a low of $1,361.5 earlier in the session, its biggest one day decline since January 2017. Spot gold fell 0.5 percent to $1,279.32 per ounce, while U.S. gold futures sett


Palladium on Monday slumped about 7 percent, its biggest daily percentage drop in over two-years, while gold also fell as strong U.S. data improved investors’ appetite for riskier assets ahead of the U.S. Federal Reserve policy meeting. Spot palladium slid about 6.7 percent to $1,366.01 per ounce. It fell as much as 7 percent to a low of $1,361.5 earlier in the session, its biggest one day decline since January 2017. Spot gold fell 0.5 percent to $1,279.32 per ounce, while U.S. gold futures sett
Palladium eyes biggest fall in two years; gold dips on US data Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-29
Keywords: news, cnbc, companies, trading, palladium, data, ounce, biggest, eyes, gold, dips, policy, fell, recent, fall, metal, going, record


Palladium eyes biggest fall in two years; gold dips on US data

Palladium on Monday slumped about 7 percent, its biggest daily percentage drop in over two-years, while gold also fell as strong U.S. data improved investors’ appetite for riskier assets ahead of the U.S. Federal Reserve policy meeting.

Spot palladium slid about 6.7 percent to $1,366.01 per ounce.

It fell as much as 7 percent to a low of $1,361.5 earlier in the session, its biggest one day decline since January 2017.

“This dramatic sell-off is a bit technical in nature as we started sliding through some key support levels as an extension of the downside with exasperated long liquidation in the market,” said David Meger, director of metals trading at High Ridge Futures.

The metal, primarily used to curb harmful emissions from vehicle engines, has plummeted about 16 percent from a record high of $1,620.52 hit last month.

Spot gold fell 0.5 percent to $1,279.32 per ounce, while U.S. gold futures settled about 0.6 percent lower at $1,281.50 an ounce.

“The equities markets, at least in the U.S., are at new recent highs and we are seeing less need for the safe-haven status of the metal,” Meger said.

Global shares edged higher as the S&P 500 touched an intraday record after data showed U.S. consumer spending increased by the most in more than 9-1/2 years last month.

The recent uplift in equities has led investors to cut their exposure to gold, with holdings of SPDR Gold Trust GLD, the world’s largest gold-backed exchange-traded fund, falling to its lowest since Oct. 19 at 746.69 tonnes on Friday.

Holdings have fallen by over 3 percent since the beginning of this month.

Speculators also increased their bearish wagers on COMEX gold in the week to April 23, the U.S. Commodity Futures Trading Commission (CFTC) said on Friday.

“You’ve got a lot of people taking profits after a three-day run-up. But, a lot of people are going to take it easy as we have the Fed on Wednesday,” said Michael Matousek, head trader at U.S. Global Investors.

“That’s going to be big and everyone is going to take a big position before that in case something obscure comes out.”

The Fed will begin its two-day policy meeting on Tuesday. The central bank last month abandoned any interest rate hikes this year.

Elsewhere, silver fell 1.1 percent to $14.90 per ounce, while platinum dipped 0.2 percent to $893.


Company: cnbc, Activity: cnbc, Date: 2019-04-29
Keywords: news, cnbc, companies, trading, palladium, data, ounce, biggest, eyes, gold, dips, policy, fell, recent, fall, metal, going, record


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Microsoft dips on revenue miss

Shares of Microsoft stock fell 3 percent Wednesday after the company issued its fiscal second-quarter earnings report with slightly lower revenue than expected. Revenue: $32.47 billion, vs. $32.51 billion as expected by analysts, according to Refinitiv. Revenue increased 12 percent year over year in the quarter, which ended on Dec. 31, Microsoft said in a statement. While Microsoft again declined to disclose exact revenue for the Azure cloud business that’s contributed to the company’s success i


Shares of Microsoft stock fell 3 percent Wednesday after the company issued its fiscal second-quarter earnings report with slightly lower revenue than expected. Revenue: $32.47 billion, vs. $32.51 billion as expected by analysts, according to Refinitiv. Revenue increased 12 percent year over year in the quarter, which ended on Dec. 31, Microsoft said in a statement. While Microsoft again declined to disclose exact revenue for the Azure cloud business that’s contributed to the company’s success i
Microsoft dips on revenue miss Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-30  Authors: jordan novet
Keywords: news, cnbc, companies, dips, miss, revenue, billion, quarter, expected, sequentially, azure, share, cloud, microsoft, bracelin


Microsoft dips on revenue miss

Shares of Microsoft stock fell 3 percent Wednesday after the company issued its fiscal second-quarter earnings report with slightly lower revenue than expected.

Here are the major numbers:

Earnings: $1.10 per share, excluding certain items, vs. $1.09 per share as expected by analysts, according to Refinitiv.

$1.10 per share, excluding certain items, vs. $1.09 per share as expected by analysts, according to Refinitiv. Revenue: $32.47 billion, vs. $32.51 billion as expected by analysts, according to Refinitiv.

Revenue increased 12 percent year over year in the quarter, which ended on Dec. 31, Microsoft said in a statement.

While Microsoft again declined to disclose exact revenue for the Azure cloud business that’s contributed to the company’s success in recent years, Microsoft did say Azure grew 76 percent, which is flat sequentially from the previous quarter.

Given comments from Intel, Juniper and other companies related to spending on infrastructure, Microsoft investors had reason to be concerned about what that means for Azure, said Brent Bracelin, an analyst at KeyBanc Capital Markets who has a “buy” rating on the stock. Bracelin had predicted around 74 percent growth, or $2.85 billion in revenue.

Microsoft said it collected $9 billion in revenue from its Commercial Cloud category, which includes the Azure public cloud, commercial subscriptions to the Office 365 productivity software bundle, the Enterprise Mobility and Security products and commercial LinkedIn services.

The unit was up 48 percent, reflecting a sequentially higher growth rate from 47 percent one quarter ago; Bracelin had estimated it would rise 44.8 percent this time around. The gross margin for Commercial Cloud held steady sequentially at 62 percent.

Azure is second to Amazon Web Services in the market for cloud infrastructure, which lets companies offload their computing and data storage. Bracelin predicted Azure would contribute $2.85 billion in the quarter, implying around 74 percent growth, down sequentially from the prior quarter. Amazon, which publishes results tomorrow, is expected to report AWS revenue of $7.3 billion, according to analysts surveyed by FactSet.

“Within the next five years I don’t envision Azure catching up,” Bracelin said in an interview this week. He said that within 10 years, Azure could be bigger if AWS is still part of Amazon.

“The debate becomes at some point, do Amazon.com’s ambitions limit the opportunities for AWS because of the competitive aspirations they have, that just limits the ability for AWS to grow,” Bracelin said.


Company: cnbc, Activity: cnbc, Date: 2019-01-30  Authors: jordan novet
Keywords: news, cnbc, companies, dips, miss, revenue, billion, quarter, expected, sequentially, azure, share, cloud, microsoft, bracelin


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Alibaba dips after the company’s president warns ‘China has slowed down’

Shares of Alibaba dipped just before market close Monday following a Wall Street Journal report citing President Michael Evans’ concerns about an economic slowdown in China. “China has slowed down,” Evans said during a presentation at the National Retail Federation’s annual conference, according to the Journal. Evans’ warning comes less than two weeks after Apple CEO Tim Cook cited headwinds in China as the main cause of a rare revenue shortfall for Apple. Alibaba in particular, with its global


Shares of Alibaba dipped just before market close Monday following a Wall Street Journal report citing President Michael Evans’ concerns about an economic slowdown in China. “China has slowed down,” Evans said during a presentation at the National Retail Federation’s annual conference, according to the Journal. Evans’ warning comes less than two weeks after Apple CEO Tim Cook cited headwinds in China as the main cause of a rare revenue shortfall for Apple. Alibaba in particular, with its global
Alibaba dips after the company’s president warns ‘China has slowed down’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-14  Authors: sara salinas, qilai shen, bloomberg, getty images
Keywords: news, cnbc, companies, alibaba, trade, worlds, weighs, slowed, apple, companys, china, evans, slowdown, economy, president, weeks, dips, warns, journal


Alibaba dips after the company's president warns 'China has slowed down'

Shares of Alibaba dipped just before market close Monday following a Wall Street Journal report citing President Michael Evans’ concerns about an economic slowdown in China.

The stock closed 1.35 percent down after trading up for most of the day.

“China has slowed down,” Evans said during a presentation at the National Retail Federation’s annual conference, according to the Journal. “As a $13 trillion economy, it would be quite unusual if it could continue to grow at 7 percent or 8 percent.”

Evans attributed the pull back in the Chinese economy to “natural causes” as well as ongoing trade tensions with the U.S., the newspaper reported.

Evans’ warning comes less than two weeks after Apple CEO Tim Cook cited headwinds in China as the main cause of a rare revenue shortfall for Apple. The country has emerged as something of a pain point for some of the world’s largest companies.

Alibaba in particular, with its global e-commerce business rooted firmly in both China and the U.S., stands to suffer from continuing trade challenges.

WATCH: China slowdown weighs on stocks


Company: cnbc, Activity: cnbc, Date: 2019-01-14  Authors: sara salinas, qilai shen, bloomberg, getty images
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Jim Paulsen is bullish on stocks again and says it’s time to ‘buy the dips’

The stock market is likely to remain highly volatile, but the economy is unlikely to fall into a recession and that makes it a good time to “buy the dips” again when stocks fall, said Jim Paulsen, chief investment strategist at Leuthold. They don’t tend to get super deep and they tend to reverse. Paulsen agrees with many Wall Street forecasts that 2019 will see a slower pace of growth in the low 2 percent range, but no recession. “On days when it’s really dying, it’s a good time to buy … on da


The stock market is likely to remain highly volatile, but the economy is unlikely to fall into a recession and that makes it a good time to “buy the dips” again when stocks fall, said Jim Paulsen, chief investment strategist at Leuthold. They don’t tend to get super deep and they tend to reverse. Paulsen agrees with many Wall Street forecasts that 2019 will see a slower pace of growth in the low 2 percent range, but no recession. “On days when it’s really dying, it’s a good time to buy … on da
Jim Paulsen is bullish on stocks again and says it’s time to ‘buy the dips’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-28  Authors: patti domm, cameron costa
Keywords: news, cnbc, companies, hard, think, low, dips, good, jim, stocks, buy, paulsen, tend, recession, dont, im, bullish


Jim Paulsen is bullish on stocks again and says it's time to 'buy the dips'

The stock market is likely to remain highly volatile, but the economy is unlikely to fall into a recession and that makes it a good time to “buy the dips” again when stocks fall, said Jim Paulsen, chief investment strategist at Leuthold.

“If there’s no recession, to me it’s a buyable correction. They don’t tend to get super deep and they tend to reverse. The whole key is the recession,” he said in a telephone interview.

Paulsen agrees with many Wall Street forecasts that 2019 will see a slower pace of growth in the low 2 percent range, but no recession.

“That’s one of the reasons I’m bullish again here. I’m betting we don’t have a recession. I think if we didn’t see the low, we saw something pretty close to it,” he said. “On days when it’s really dying, it’s a good time to buy … on days, when it’s rallying hard, just stand pat. That’s what I would look at doing.”

The S&P 500’s closing low was 2,351 on Monday, after a sharp drop in the half-day Christmas Eve session, giving it a 19.8 percent decline from its September high. Since Monday, it has swung hard in both directions, but was up about 3 percent for the week as of Friday morning.

“I think sometime in 2019, if you buy down here in this area, you’ll probably be happy,” he said.

WATCH: Don’t panic when stocks are getting slammed


Company: cnbc, Activity: cnbc, Date: 2018-12-28  Authors: patti domm, cameron costa
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Nasdaq dips into bear market territory briefly Thursday as investors bail on Apple, Amazon

The Nasdaq Composite entered bear market territory Thursday as Wall Street sold off pricey technology stocks amid steep valuations, increased regulatory concerns and fears of slowing economic growth. It finished the day just under that level, down 1.6 percent for the day and 19.7 percent from its record. Amazon, Apple, Netflix and Alphabet, which drove the gains in the Nasdaq during the bull market, were all lower on Thursday. Those names are all already in bear market territory individually, do


The Nasdaq Composite entered bear market territory Thursday as Wall Street sold off pricey technology stocks amid steep valuations, increased regulatory concerns and fears of slowing economic growth. It finished the day just under that level, down 1.6 percent for the day and 19.7 percent from its record. Amazon, Apple, Netflix and Alphabet, which drove the gains in the Nasdaq during the bull market, were all lower on Thursday. Those names are all already in bear market territory individually, do
Nasdaq dips into bear market territory briefly Thursday as investors bail on Apple, Amazon Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-20  Authors: thomas franck, getty images
Keywords: news, cnbc, companies, market, amazon, nasdaq, investors, 52week, companies, territory, briefly, day, facebook, dips, bear, sales, bail, names, apple, stocks


Nasdaq dips into bear market territory briefly Thursday as investors bail on Apple, Amazon

The Nasdaq Composite entered bear market territory Thursday as Wall Street sold off pricey technology stocks amid steep valuations, increased regulatory concerns and fears of slowing economic growth.

The tech-heavy benchmark lost nearly 3 percent at its low of the day, bringing its losses to more than 20 percent from a record reached at the end of August. It finished the day just under that level, down 1.6 percent for the day and 19.7 percent from its record.

Amazon, Apple, Netflix and Alphabet, which drove the gains in the Nasdaq during the bull market, were all lower on Thursday. Those names are all already in bear market territory individually, down more than 20 percent from highs.

Apple is down 32 percent from its latest high. Amazon is off by 29 percent from its record. At their peaks, both were worth more than $1 trillion in market value. On Thursday, both lost more than 2 percent.

Even Microsoft, which had held up better than other big tech recently, was getting hit on Thursday. The stock was down 2 percent, bringing its decline from its 52-week high to 12 percent.

“It’s been a bear market for a little while now, whether it’s been reflected in Russell 2000 or the Nasdaq,” said Steven DeSanctis, a Jefferies equity strategist. “We’ve seen sectors like energy, financials and some consumer names that have been absolutely beaten up. It’s pretty broad-based.”

Investors were quick to abandon the tech household names in part thanks to how expensive technology stocks had become over the past year. Traders bought up such stocks throughout 2017 and into 2018 amid a swell in demand for chips and an acceleration in revenues at Facebook and Amazon that promised companies some of the best advertising exposure available.

But an uptick in borrowing costs and heightened regulatory scrutiny has trimmed the buoyant income outlook for the sector, which often borrows cash to fuel innovation or content purchasing. Facebook stock, for instance, fell more than 30 percent over the past six months as a string of data privacy reports and subsequent federal hearings threw the social media giant into the limelight. Facebook actually finished Thursday higher, but is down 38 percent from its 52-week high.

“People are really worried about 2019 outlook and what earnings numbers are going to be,” DeSanctis added. “Earnings numbers are coming down for 2019. Companies are able to manage around higher interest rates, which slow down their business, but the tariffs add an additional cost. So companies are really going to take a step back and not spend a lot of money initially in 2019.”

Apple also faced revenue concerns this quarter after it told investors that it will no longer disclose iPhone unit sales when it reports financial results, raising fears that sales of the iconic smartphone may have peaked. Many analysts and shareholders, who had used the quarterly phone sales figures as a quick gauge of the company’s income health, said they were disappointed with Apple’s choice to withhold the information.

Chipmakers saw their equity soar in 2017 as retail investors flocked to cryptocurrency investments and developments in artificial intelligence, machine learning and autonomous driving promised long-lasting demand for semiconductors and equipment.

Stock of Nvidia and Advanced Micro Devices are both off more than 40 percent from their own 52-week highs and were lower on Thursday.

— CNBC’s Yun Li contributed reporting.


Company: cnbc, Activity: cnbc, Date: 2018-12-20  Authors: thomas franck, getty images
Keywords: news, cnbc, companies, market, amazon, nasdaq, investors, 52week, companies, territory, briefly, day, facebook, dips, bear, sales, bail, names, apple, stocks


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