Ford sales in China dropped 43 percent in September

Ford’s sales in China dropped 43 percent in September from the same month a year earlier, a sign that sales are slowing in the world’s largest car market. This is the third straight month of declining auto sales in China. The second-largest U.S. automaker has been hit by the ongoing trade war between the U.S. and China, despite the fact that Ford sells cars in China through partnerships with local firms. Ford has unique problems in China, Dunne said. The automaker has not brought new products to


Ford’s sales in China dropped 43 percent in September from the same month a year earlier, a sign that sales are slowing in the world’s largest car market. This is the third straight month of declining auto sales in China. The second-largest U.S. automaker has been hit by the ongoing trade war between the U.S. and China, despite the fact that Ford sells cars in China through partnerships with local firms. Ford has unique problems in China, Dunne said. The automaker has not brought new products to
Ford sales in China dropped 43 percent in September Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-12  Authors: robert ferris, johannes eisele, afp, getty images, cnbc, darren weaver
Keywords: news, cnbc, companies, dunne, sales, war, 43, consumers, trade, seen, china, dropped, chinese, times, ford


Ford sales in China dropped 43 percent in September

Ford’s sales in China dropped 43 percent in September from the same month a year earlier, a sign that sales are slowing in the world’s largest car market.

This is the third straight month of declining auto sales in China.

The second-largest U.S. automaker has been hit by the ongoing trade war between the U.S. and China, despite the fact that Ford sells cars in China through partnerships with local firms.

Ford shares are down nearly 30 percent since the beginning of the year. The stock hit a 52-week low of $8.57 in trading Friday.

Auto sales are down across the board in China, said Michael Dunne, president of ZoZo Go, an investment advisory firm that follows Chinese autonomous and electrified vehicle companies. This is the first sustained downturn Dunne has seen since the Asian financial crisis in the late 1990s, he said.

There are three major factors driving this decline in demand. The first is a crackdown on certain types of peer-to-peer lending practices in China, a feature of the Chinese financial system that has typically allowed less wealthy Chinese to borrow money at rates better than what banks are offering.

The second is a general cautiousness among Chinese consumers that has emerged recently.

“When times are good, the Chinese are really bullish and bold,” he said. “But when times are uncertain they become exceptionally conservative.”

There is a particular mentality that can take hold among Chinese consumers that is more pronounced than the lack of consumer confidence seen in the United States, for example. “And it is contagious,” he added.

Finally, there is the trade war with the U.S., which has exacerbated the uncertainty many Chinese feel from the overall economic slowdown.

Ford has unique problems in China, Dunne said. The automaker has not brought new products to market for more than a year, and Chinese consumers have sought cars elsewhere. Ford is expected to bring new products to China in the next few months, he said.

Ford was not immediately available for comment.

WATCH: Ford is using bionic suits to help employees work safer


Company: cnbc, Activity: cnbc, Date: 2018-10-12  Authors: robert ferris, johannes eisele, afp, getty images, cnbc, darren weaver
Keywords: news, cnbc, companies, dunne, sales, war, 43, consumers, trade, seen, china, dropped, chinese, times, ford


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Asia stocks crumble: Shanghai topples more than 5%, Nikkei declines nearly 4%

Asia markets fell sharply on Thursday, with the stock indexes in Shanghai and Shenzhen both tumbling more than 5 percent. In the Greater China region, the Hang Seng index was down by 3.88 percent in afternoon trade. Over on the mainland, the Shanghai composite fell 5.22 percent to close at 2,583.46 and the Shenzhen composite plunged 6.445 percent to end at 1,293.90. The fall in the Shanghai index was its worst day since February 2016, according to Chinese financial services firm Wind Information


Asia markets fell sharply on Thursday, with the stock indexes in Shanghai and Shenzhen both tumbling more than 5 percent. In the Greater China region, the Hang Seng index was down by 3.88 percent in afternoon trade. Over on the mainland, the Shanghai composite fell 5.22 percent to close at 2,583.46 and the Shenzhen composite plunged 6.445 percent to end at 1,293.90. The fall in the Shanghai index was its worst day since February 2016, according to Chinese financial services firm Wind Information
Asia stocks crumble: Shanghai topples more than 5%, Nikkei declines nearly 4% Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: eustance huang
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Asia stocks crumble: Shanghai topples more than 5%, Nikkei declines nearly 4%

Asia markets fell sharply on Thursday, with the stock indexes in Shanghai and Shenzhen both tumbling more than 5 percent.

In the Greater China region, the Hang Seng index was down by 3.88 percent in afternoon trade. Over on the mainland, the Shanghai composite fell 5.22 percent to close at 2,583.46 and the Shenzhen composite plunged 6.445 percent to end at 1,293.90.

The fall in the Shanghai index was its worst day since February 2016, according to Chinese financial services firm Wind Information.

In Taiwan, the tech-heavy Taiex dropped by 6.31 percent to close at 9,806.11, with shares of lens maker and Apple supplier Largan Precision plunging 9.89 percent.

Japan’s markets also faltered. The Nikkei 225 dropped by 3.89 percent to close at 22,590.86 while the Topix index declined by 3.52 percent to end the trading day at 1,701.86, with major sectors down.


Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: eustance huang
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Larry Kudlow: ‘We are the hottest economy in the world. We are crushing it’

National Economic Council Director Larry Kudlow cheered the Trump administration’s economic measures on Thursday, noting the U.S. economy is outperforming the rest of the world. “We are the hottest economy in the world right now. President Trump has changed the incentives in the economy. Before the start of 2018, President Donald Trump signed a bill that slashed the corporate tax rate to 21 percent from 35 percent. Kudlow spoke with CNBC’s “Squawk on the Street” a day after stocks had their wors


National Economic Council Director Larry Kudlow cheered the Trump administration’s economic measures on Thursday, noting the U.S. economy is outperforming the rest of the world. “We are the hottest economy in the world right now. President Trump has changed the incentives in the economy. Before the start of 2018, President Donald Trump signed a bill that slashed the corporate tax rate to 21 percent from 35 percent. Kudlow spoke with CNBC’s “Squawk on the Street” a day after stocks had their wors
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Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: fred imbert, joshua roberts, bloomberg, getty images
Keywords: news, cnbc, companies, stocks, dropped, president, kudlow, sp, trump, larry, economy, world, crushing, economic, outperforming, hottest, slowing


Larry Kudlow: 'We are the hottest economy in the world. We are crushing it'

National Economic Council Director Larry Kudlow cheered the Trump administration’s economic measures on Thursday, noting the U.S. economy is outperforming the rest of the world.

“We are the hottest economy in the world right now. We’re crushing it,” Kudlow said. “Europe is slowing down. Asia is slowing down. We are moving rapidly.”

Kudlow noted that the U.S. economy expanded by 3.2 percent in the first half and that the Atlanta Federal Reserve is expecting growth of 4 percent for the third quarter.

U.S. stocks are also largely outperforming global equities. The S&P 500 is up 3.8 percent year to date, while the European Stoxx 600 index has dropped 7.1 percent. In Asia, the Shanghai composite has plummeted more than 21 percent while the Japanese Nikkei 225 is down about 1 percent.

“Right now, the U.S. is carrying the ball. I don’t see an end to it,” Kudlow added. “With all due respect, I don’t think this is anything resembling a sugar high. President Trump has changed the incentives in the economy. The war on business is over.”

Before the start of 2018, President Donald Trump signed a bill that slashed the corporate tax rate to 21 percent from 35 percent. The administration has also rolled back regulations that it deems are hurtful to businesses.

Kudlow spoke with CNBC’s “Squawk on the Street” a day after stocks had their worst day since February. The Dow Jones Industrial Average plunged more than 800 points while the S&P 500 dropped more than 3 percent on Wednesday amid a rout in tech shares and worries over higher rates sent.

Stocks fell further in volatile trading Thursday.


Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: fred imbert, joshua roberts, bloomberg, getty images
Keywords: news, cnbc, companies, stocks, dropped, president, kudlow, sp, trump, larry, economy, world, crushing, economic, outperforming, hottest, slowing


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Tech stocks have their worst day since August 2011

Technology stocks got clobbered on Wednesday, suffering their worst day in more than seven years, as concerns over rising interest rates punished the overall market, particularly shares of companies that have been the best performers. The S&P 500 Information Technology Index closed at $1,220.62, down 4.8 percent, marking the biggest decline since August 18, 2011, when the index dropped 5.3 percent. All 65 members of the index fell. The broader S&P 500 dropped by 3.3 percent and the Dow Jones Ind


Technology stocks got clobbered on Wednesday, suffering their worst day in more than seven years, as concerns over rising interest rates punished the overall market, particularly shares of companies that have been the best performers. The S&P 500 Information Technology Index closed at $1,220.62, down 4.8 percent, marking the biggest decline since August 18, 2011, when the index dropped 5.3 percent. All 65 members of the index fell. The broader S&P 500 dropped by 3.3 percent and the Dow Jones Ind
Tech stocks have their worst day since August 2011 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-10  Authors: jordan novet, fred imbert, adam jeffery
Keywords: news, cnbc, companies, suffering, tumbled, 2011, technology, index, 500, worst, dropped, day, shares, tech, sp, stocks


Tech stocks have their worst day since August 2011

Technology stocks got clobbered on Wednesday, suffering their worst day in more than seven years, as concerns over rising interest rates punished the overall market, particularly shares of companies that have been the best performers.

The S&P 500 Information Technology Index closed at $1,220.62, down 4.8 percent, marking the biggest decline since August 18, 2011, when the index dropped 5.3 percent. All 65 members of the index fell. The broader S&P 500 dropped by 3.3 percent and the Dow Jones Industrial Average tumbled 3.2 percent.


Company: cnbc, Activity: cnbc, Date: 2018-10-10  Authors: jordan novet, fred imbert, adam jeffery
Keywords: news, cnbc, companies, suffering, tumbled, 2011, technology, index, 500, worst, dropped, day, shares, tech, sp, stocks


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Dow falls the most in 2 months on fears of rising rates as 10-year yield hits highest since 2011

The Dow Jones Industrial Average dropped 200.91 points to 26,627.48 as Nike and Home Depot lagged. The 30-stock index dropped 356 points at its lows of the day and posted its worst decline since Aug. 10. The S&P 500 declined 0.8 percent to 2,901.61, notching its worst day since June 25, with communications and tech sectors both sliding more than 1.5 percent. The benchmark 10-year Treasury note yield reached its highest level since 2011, breaking above 3.2 percent. “The level of the rates does no


The Dow Jones Industrial Average dropped 200.91 points to 26,627.48 as Nike and Home Depot lagged. The 30-stock index dropped 356 points at its lows of the day and posted its worst decline since Aug. 10. The S&P 500 declined 0.8 percent to 2,901.61, notching its worst day since June 25, with communications and tech sectors both sliding more than 1.5 percent. The benchmark 10-year Treasury note yield reached its highest level since 2011, breaking above 3.2 percent. “The level of the rates does no
Dow falls the most in 2 months on fears of rising rates as 10-year yield hits highest since 2011 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-04  Authors: fred imbert, alexandra gibbs, michael nagle, bloomberg, getty images
Keywords: news, cnbc, companies, rising, watching, fears, dropped, 25, day, dow, 2011, falls, rates, months, points, percentthe, level, worst, hits, yield, highest


Dow falls the most in 2 months on fears of rising rates as 10-year yield hits highest since 2011

Here’s what four experts say to do next following Thursday’s selloff 12 Hours Ago | 03:14

Stocks fell sharply on Thursday as interest rates hit new multiyear highs, dampening investor sentiment.

The Dow Jones Industrial Average dropped 200.91 points to 26,627.48 as Nike and Home Depot lagged. The 30-stock index dropped 356 points at its lows of the day and posted its worst decline since Aug. 10.

The S&P 500 declined 0.8 percent to 2,901.61, notching its worst day since June 25, with communications and tech sectors both sliding more than 1.5 percent. The Nasdaq Composite dropped 1.8 percent — its biggest daily drop since June 25 — to 7,879.51 as Facebook, Netflix and Alphabet all dropped more than 2 percent.

The benchmark 10-year Treasury note yield reached its highest level since 2011, breaking above 3.2 percent.

“The level of the rates does not concern us,” said Steve Chiavarone, portfolio manager at Federated Investors. “That said, moving more than 10 basis points in two days is a different story. Pace matters and it bears watching.”


Company: cnbc, Activity: cnbc, Date: 2018-10-04  Authors: fred imbert, alexandra gibbs, michael nagle, bloomberg, getty images
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Dow jumps more than 100 points to all-time high, rallies for a second day to start fourth quarter

The 30-stock index closed 122.73 points higher to 26,773.94 for its first record close since Sept. 21. Intel climbed more than 3.5 percent, while Boeing soared to an all-time high. These gains added to the 192-point pop in the Dow on Monday to start the fourth quarter. Stocks were coming off strong gains from the previous session after Canada joined the U.S. and Mexico in a new trade deal. “The market reaction suggests investors are less worried about a trade war,” said Jennifer Ellison, princip


The 30-stock index closed 122.73 points higher to 26,773.94 for its first record close since Sept. 21. Intel climbed more than 3.5 percent, while Boeing soared to an all-time high. These gains added to the 192-point pop in the Dow on Monday to start the fourth quarter. Stocks were coming off strong gains from the previous session after Canada joined the U.S. and Mexico in a new trade deal. “The market reaction suggests investors are less worried about a trade war,” said Jennifer Ellison, princip
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Company: cnbc, Activity: cnbc, Date: 2018-10-02  Authors: fred imbert, alexandra gibbs
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Dow jumps more than 100 points to all-time high, rallies for a second day to start fourth quarter

The Russell is at ‘serious risk’ regardless of trade agreement, says chief market strategist 8 Hours Ago | 04:20

The Dow Jones Industrial Average hit a record high on Tuesday as it rallied for a second day, boosted by gains in Intel and optimism around global trade.

The 30-stock index closed 122.73 points higher to 26,773.94 for its first record close since Sept. 21. Intel climbed more than 3.5 percent, while Boeing soared to an all-time high. These gains added to the 192-point pop in the Dow on Monday to start the fourth quarter.

The S&P 500, closed flat, however, at 2,923.43 while the Nasdaq Composite fell half a percent to 7,999.55 as large-cap tech names fell more than 1 percent.

Amazon shares dropped 1.6 after the company announced it would raise its minimum wage to $15 per hour for all U.S. employees. Facebook, meanwhile, dropped nearly 2 percent.

Stocks were coming off strong gains from the previous session after Canada joined the U.S. and Mexico in a new trade deal.

The United States-Mexico-Canada Agreement, or “USMCA” for short, will see all three countries compromise on certain trade aspects. More market access will be granted to U.S. dairy farmers, while Canada has agreed to effectively cap automobile exports to the States.

“The market reaction suggests investors are less worried about a trade war,” said Jennifer Ellison, principal at BOS. “It’s more of a sigh of relief.”


Company: cnbc, Activity: cnbc, Date: 2018-10-02  Authors: fred imbert, alexandra gibbs
Keywords: news, cnbc, companies, fourth, market, start, second, quarter, closed, record, jumps, fell, dropped, gains, rallies, day, dow, trade, intel, points, high


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Tesla shares drop as much as 13% after SEC charges CEO Elon Musk with fraud

Musk could still be an important piece of Tesla, he just couldn’t run the thing: Stewart 8 Hours Ago | 11:59Shares of Tesla dropped sharply in after-hours trading Thursday after court documents showed the Securities and Exchange Commission is suing Elon Musk for fraud. Tesla’s stock dropped as much as 13 percent, to around $268, down from $307.52 as of the close. Musk, the company’s CEO, tweeted last month he was thinking about taking Tesla private, noting: “Funding secured.” The Aug. 7 tweet se


Musk could still be an important piece of Tesla, he just couldn’t run the thing: Stewart 8 Hours Ago | 11:59Shares of Tesla dropped sharply in after-hours trading Thursday after court documents showed the Securities and Exchange Commission is suing Elon Musk for fraud. Tesla’s stock dropped as much as 13 percent, to around $268, down from $307.52 as of the close. Musk, the company’s CEO, tweeted last month he was thinking about taking Tesla private, noting: “Funding secured.” The Aug. 7 tweet se
Tesla shares drop as much as 13% after SEC charges CEO Elon Musk with fraud Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-27  Authors: fred imbert
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Tesla shares drop as much as 13% after SEC charges CEO Elon Musk with fraud

Musk could still be an important piece of Tesla, he just couldn’t run the thing: Stewart 8 Hours Ago | 11:59

Shares of Tesla dropped sharply in after-hours trading Thursday after court documents showed the Securities and Exchange Commission is suing Elon Musk for fraud.

Sources close to the company told CNBC the company was also expecting to be sued, though Tesla was not named as a defendant in the complaint.

Tesla’s stock dropped as much as 13 percent, to around $268, down from $307.52 as of the close.

Musk, the company’s CEO, tweeted last month he was thinking about taking Tesla private, noting: “Funding secured.”

The Aug. 7 tweet sent Tesla shares flying, and they closed 11 percent higher on the day.

After sending the tweet, Musk claimed he had been in talks with the Saudi Arabian sovereign wealth fund and was confident he’d have the funding to take the company private at $420 a share. Tesla abandoned its plans to go private later in August.

“The SEC is looking at it very seriously. The stock is going to be under pressure while this gets resolved, and obviously these things take time. The SEC obviously has fired the first shot,” said Art Hogan, chief market strategist at B. Riley FBR. “It sounds like the company’s first communication was to defend.”

Tesla since Aug. 7

Source: FactSet

In its complaint, the SEC said Musk knew he “had not agreed upon any terms for a going-private transaction with the Fund or any other funding source,” adding Musk had “had no further substantive communications with representatives of the Fund beyond their 30 to 45 minute meeting on July 31.”

Regardless, the stock has been a roller-coaster ride for investors ever since the infamous Aug. 7 tweet. Since popping that day, the stock has dropped 19 percent through Thursday’s close.

Colin Rusch, an analyst at Oppenheimer with a buy rating and a $385 price target on Tesla, told CNBC’s “Closing Bell” the stock, and the company, can recover from this.

“The potential for this platform is generating an awful lot of cash flow,” Rusch said. If “they implement some fiscal discipline around growth and increment operating margins, we do think there is still an awful lot of capital that is still very bullish on this name and will continue to buy the name even with this sort of overhang.”

— CNBC’s Patti Domm contributed to this report.

WATCH: Munster thinks there’s a 25% chance Musk remains Tesla CEO


Company: cnbc, Activity: cnbc, Date: 2018-09-27  Authors: fred imbert
Keywords: news, cnbc, companies, fund, private, sec, fraud, elon, funding, drop, musk, shares, dropped, tesla, 13, stock, aug, charges, ceo, company


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Nike nearly dropped Colin Kaepernick before putting him in its anniversary ads

Nike’s controversial 30th anniversary ad campaign featuring Colin Kaepernick might not have happened as the sportswear company nearly dropped him, according to a report in The New York Times. Kaepernick was unemployed after leaving the San Francisco 49ers at the end of the 2016 season, having made headlines for kneeling during the national anthem in protest against police brutality towards African-Americans in the U.S., a move that other players replicated. In summer 2017, Nike executives debate


Nike’s controversial 30th anniversary ad campaign featuring Colin Kaepernick might not have happened as the sportswear company nearly dropped him, according to a report in The New York Times. Kaepernick was unemployed after leaving the San Francisco 49ers at the end of the 2016 season, having made headlines for kneeling during the national anthem in protest against police brutality towards African-Americans in the U.S., a move that other players replicated. In summer 2017, Nike executives debate
Nike nearly dropped Colin Kaepernick before putting him in its anniversary ads Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-27  Authors: lucy handley, justin sullivan, getty images
Keywords: news, cnbc, companies, dropped, team, kaepernick, according, unemployed, nike, summer, verify, anniversary, ads, york, timeskaepernick, nearly, putting, colin, times


Nike nearly dropped Colin Kaepernick before putting him in its anniversary ads

Nike’s controversial 30th anniversary ad campaign featuring Colin Kaepernick might not have happened as the sportswear company nearly dropped him, according to a report in The New York Times.

Kaepernick was unemployed after leaving the San Francisco 49ers at the end of the 2016 season, having made headlines for kneeling during the national anthem in protest against police brutality towards African-Americans in the U.S., a move that other players replicated.

In summer 2017, Nike executives debated dropping their sponsorship, the Times reported. Kaepernick didn’t have a team and keeping him on its roster could diminish its relationship with the NFL, of which Nike is a partner.

So Nike marketers decided to cancel the contract with Kaepernick, according to a former employee who spoke to the Times on condition of anonymity because of a non-disclosure agreement, which CNBC has not been able to verify.


Company: cnbc, Activity: cnbc, Date: 2018-09-27  Authors: lucy handley, justin sullivan, getty images
Keywords: news, cnbc, companies, dropped, team, kaepernick, according, unemployed, nike, summer, verify, anniversary, ads, york, timeskaepernick, nearly, putting, colin, times


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Stocks open little changed as a decline in chipmakers caps gains, trade fears remain

Stocks were little changed on Wednesday as a fall in chipmaker shares and lingering trade concerns capped gains in the market. The VanEck Vectors Semiconductor exchange-traded fund (SMH) fell 1.4 percent, led by a decline in Micron. Shares of Micron dropped more than 3 percent after Goldman Sachs downgraded them to neutral from buy, citing a “snowballing” decline in memory-chip demand. Semiconductor stocks have been under pressure lately amid heightened concerns of slowing memory-chip demand, he


Stocks were little changed on Wednesday as a fall in chipmaker shares and lingering trade concerns capped gains in the market. The VanEck Vectors Semiconductor exchange-traded fund (SMH) fell 1.4 percent, led by a decline in Micron. Shares of Micron dropped more than 3 percent after Goldman Sachs downgraded them to neutral from buy, citing a “snowballing” decline in memory-chip demand. Semiconductor stocks have been under pressure lately amid heightened concerns of slowing memory-chip demand, he
Stocks open little changed as a decline in chipmakers caps gains, trade fears remain Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-12  Authors: fred imbert, alexandra gibbs, michael nagle, bloomberg, getty images
Keywords: news, cnbc, companies, shares, memorychip, open, fell, fears, stocks, remain, decline, trade, smh, changed, micron, little, sp, gains, tech, chipmakers, dropped


Stocks open little changed as a decline in chipmakers caps gains, trade fears remain

Stocks were little changed on Wednesday as a fall in chipmaker shares and lingering trade concerns capped gains in the market.

The Dow Jones Industrial Average rose just 8 points as Chevron and Exxon Mobil outperform. The S&P 500 traded along the flatline as losses in tech offset a 1 percent jump in energy. The Nasdaq Composite slipped 0.2 percent.

The VanEck Vectors Semiconductor exchange-traded fund (SMH) fell 1.4 percent, led by a decline in Micron. Shares of Micron dropped more than 3 percent after Goldman Sachs downgraded them to neutral from buy, citing a “snowballing” decline in memory-chip demand.

Shares of Dow-member Intel fell nearly 1 percent while Applied Materials and Lam Research pulled back 3.7 percent and 2.6 percent, respectively.

Semiconductor stocks have been under pressure lately amid heightened concerns of slowing memory-chip demand, helping drag the broader tech space lower. The SMH has dropped more than 3 percent this month while the S&P 500 tech sector is down 1.8 percent through Tuesday’s close.


Company: cnbc, Activity: cnbc, Date: 2018-09-12  Authors: fred imbert, alexandra gibbs, michael nagle, bloomberg, getty images
Keywords: news, cnbc, companies, shares, memorychip, open, fell, fears, stocks, remain, decline, trade, smh, changed, micron, little, sp, gains, tech, chipmakers, dropped


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Investors who bought into the teeth of the Lehman crisis are up 130%

Before Lehman Brothers collapsed, before AIG buckled, before the financial system fully broke down and was bailed out, stocks were already in a bear market. Bank stocks had hemorrhaged more than half their value over the prior year and a half, and the U.S. was nearly a year into a bruising recession. In other words, by the logic of disciplined long-term investing and contrarian logic, it might have looked like a decent buying opportunity. After all, the day before, the Dow Jones Industrial Avera


Before Lehman Brothers collapsed, before AIG buckled, before the financial system fully broke down and was bailed out, stocks were already in a bear market. Bank stocks had hemorrhaged more than half their value over the prior year and a half, and the U.S. was nearly a year into a bruising recession. In other words, by the logic of disciplined long-term investing and contrarian logic, it might have looked like a decent buying opportunity. After all, the day before, the Dow Jones Industrial Avera
Investors who bought into the teeth of the Lehman crisis are up 130% Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-10  Authors: michael santoli, oli scarff, getty images
Keywords: news, cnbc, companies, nearly, stocks, level, half, logic, teeth, bought, investors, 130, bank, youd, 15, crisis, dropped, lehman


Investors who bought into the teeth of the Lehman crisis are up 130%

Before Lehman Brothers collapsed, before AIG buckled, before the financial system fully broke down and was bailed out, stocks were already in a bear market.

By Sept. 12, 2008 — the Friday before the effort to rescue Lehman came up short in a big way and unleashed a new level of panic and pain — the S&P 500 had been falling for nearly a year. It had dropped 22 percent from its October 2007 peak by mid-July. Bank stocks had hemorrhaged more than half their value over the prior year and a half, and the U.S. was nearly a year into a bruising recession.

In other words, by the logic of disciplined long-term investing and contrarian logic, it might have looked like a decent buying opportunity. After all, the day before, the Dow Jones Industrial Average gained 1.5 percent led by bank stocks, reversing a 1.5 percent intraday loss. Crude oil had dropped to a six-month low. The Cboe Volatility Index surged above 25, a level that has been known to mark the approach of a trading bottom.

The front page of The Wall Street Journal that Friday blared, “Lehman Races to Find a Buyer,” while Washington Mutual “said it had enough liquidity and capital to ride out the banking crisis.”

So, what if you’d bought the market at that point, thinking stocks were already down quite a bit, and a lot of the bad news was both splashed across the headlines and reflected in their prices? If Lehman was rescued that weekend, wouldn’t it plausibly spark a decisive recovery in stocks?


Company: cnbc, Activity: cnbc, Date: 2018-09-10  Authors: michael santoli, oli scarff, getty images
Keywords: news, cnbc, companies, nearly, stocks, level, half, logic, teeth, bought, investors, 130, bank, youd, 15, crisis, dropped, lehman


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