A happy retirement is more than just money

This is an important distinction to make, that insufficient retirement savings could be more a function of conscious decisions made in the past than a failure to behave responsibly. More from Fixed Income Strategies:Now may be the time for bonds in portfoliosSurprising spending truths could upend your retirementFinancial worries prevent earlier retirement for manyFurthermore, saving for retirement is not as easy as advertised. Given our increasing life expectancy, accumulating enough money in 35


This is an important distinction to make, that insufficient retirement savings could be more a function of conscious decisions made in the past than a failure to behave responsibly. More from Fixed Income Strategies:Now may be the time for bonds in portfoliosSurprising spending truths could upend your retirementFinancial worries prevent earlier retirement for manyFurthermore, saving for retirement is not as easy as advertised. Given our increasing life expectancy, accumulating enough money in 35
A happy retirement is more than just money Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: ivory johnson, guest contributor, nastasic, getty images, photo hero images via getty images, michael grabois, flickr, adam gault, roger wright
Keywords: news, cnbc, companies, income, given, chance, retirement, life, happy, need, decisions, earlier, money, easy


A happy retirement is more than just money

What you will need to budget for once you retire 10:14 AM ET Wed, 27 Feb 2019 | 00:48

Daunting numbers indeed, but these conditions speak to priorities undertaken years earlier. Many families would list education as their No. 1 goal, and given the exorbitant cost of college tuition, it only makes sense that their nest egg is less than robust.

This is an important distinction to make, that insufficient retirement savings could be more a function of conscious decisions made in the past than a failure to behave responsibly.

More from Fixed Income Strategies:

Now may be the time for bonds in portfolios

Surprising spending truths could upend your retirement

Financial worries prevent earlier retirement for many

Furthermore, saving for retirement is not as easy as advertised.

Glossy financial planning brochures with couples in their mid-50s riding a sailboat notwithstanding, this is simply an unrealistic expectation for many households. Given our increasing life expectancy, accumulating enough money in 35 to 40 years of working to sustain us for the remainder of our lives is no easy task.

To put this into perspective, if you take out 5 percent from a diversified portfolio each year, you stand a 58 percent chance of running out of money within 30 years of retirement.

After all, anyone taking withdrawals during the 2008 housing crisis would have a dramatically different outcome than investors who retired in 2009 and lived off market returns in the beginning of retirement. Volatility matters. This would suggest that you need $2,000,000 saved to generate $100,000 in annual income.

It’s also worth mentioning that distributions from retirement accounts are subject to ordinary income taxes. In other words, there’s a fair chance that a great many savers — unless they make lifestyle sacrifices or wiser investment decisions or have an actual pension — won’t be able to maintain their current quality of life once they leave the workforce.


Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: ivory johnson, guest contributor, nastasic, getty images, photo hero images via getty images, michael grabois, flickr, adam gault, roger wright
Keywords: news, cnbc, companies, income, given, chance, retirement, life, happy, need, decisions, earlier, money, easy


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

US futures slip following earlier halt on the CME

U.S. futures pointed to declines for stocks on Wall Street at Wednesday’s open. The futures contracts for U.S. stock markets, Treasurys and commodities resumed trade on Tuesday evening stateside after being halted for several hours earlier due to a technical fault at CME Group. Stock market futures stateside were largely tepid following the resumption of trading. CME Group said in a tweet on its official account that the halt on all CME Globex markets was due to “technical issues,” referring to


U.S. futures pointed to declines for stocks on Wall Street at Wednesday’s open. The futures contracts for U.S. stock markets, Treasurys and commodities resumed trade on Tuesday evening stateside after being halted for several hours earlier due to a technical fault at CME Group. Stock market futures stateside were largely tepid following the resumption of trading. CME Group said in a tweet on its official account that the halt on all CME Globex markets was due to “technical issues,” referring to
US futures slip following earlier halt on the CME Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-27  Authors: eustance huang
Keywords: news, cnbc, companies, trade, following, halt, trading, worth, wall, cme, market, slip, vietnamese, markets, testimony, earlier, wednesdays, futures


US futures slip following earlier halt on the CME

U.S. futures pointed to declines for stocks on Wall Street at Wednesday’s open.

The futures contracts for U.S. stock markets, Treasurys and commodities resumed trade on Tuesday evening stateside after being halted for several hours earlier due to a technical fault at CME Group.

Stock market futures stateside were largely tepid following the resumption of trading. Dow Jones Industrial Average futures slipped 52 points as of 2:35 a.m. ET Wednesday, implying an opening decline of 65.98 points for the index at Wednesday’s open. S&P 500 and Nasdaq 100 futures also pointed to declines at the open.

CME Group said in a tweet on its official account that the halt on all CME Globex markets was due to “technical issues,” referring to the main market for trading U.S. futures overnight.

CME Globex markets resumed trading at 9:45 p.m. CT Tuesday (10:45 p.m. ET).

Shares on Wall Street slipped during Tuesday’s trading session amid disappointing earnings, mixed U.S. economic data as well as a testimony from Fed Chair Jerome Powell.

Powell delivered his testimony to a U.S. Senate committee on Tuesday, noting that the U.S. economic outlook was “generally favorable” but warned of headwinds from overseas. China and Europe were particular areas of concern, he said, adding that the Fed was watching how Brexit negotiations and trade talks play out.

“Fed chair Jerome Powell stuck to the ‘cautious’ script in his testimony to the Senate yesterday,” Robert Carnell, head of research in Asia Pacific for ING Bank, said in a note.

“He struck a solidly neutral tone, in contrast with the market view that sees the (Federal Open Market Committee’s) next move as downwards,” Carnell said.

On the geopolitical front, President Donald Trump and North Korean leader Kim Jong Un are meeting Wednesday in Vietnam for the second time in less than a year.

Trump and his Vietnamese counterpart Nguyen Phu Trong on Wednesday presided over the signing of several trade deals in Hanoi. They include agreements to sell the Southeast Asian nation Boeing planes worth billions of dollars. Vietnamese carriers VietJet and Bamboo Airways inked deaks worth more than $15 billionwith Boeing to purchase 110 planes.

— CNBC’s Jeff Cox and AP contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-02-27  Authors: eustance huang
Keywords: news, cnbc, companies, trade, following, halt, trading, worth, wall, cme, market, slip, vietnamese, markets, testimony, earlier, wednesdays, futures


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Tech stocks take a beating after hours on disappointing earnings reports

Wednesday was a bad day to report tech earnings. HP, Box, Square and Booking all plummeted in extended trading after providing quarterly numbers or forecasts that disappointed investors. The declines came after the Dow Jones Industrial Average and S&P 500 both closed regular trading in the red. HP and Square both fell 6 percent after their reports. Software company Alteryx dropped more than 5 percent, and Booking, the parent of Priceline and Kayak, slumped 10 percent.


Wednesday was a bad day to report tech earnings. HP, Box, Square and Booking all plummeted in extended trading after providing quarterly numbers or forecasts that disappointed investors. The declines came after the Dow Jones Industrial Average and S&P 500 both closed regular trading in the red. HP and Square both fell 6 percent after their reports. Software company Alteryx dropped more than 5 percent, and Booking, the parent of Priceline and Kayak, slumped 10 percent.
Tech stocks take a beating after hours on disappointing earnings reports Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-27  Authors: jordan novet, scott mlyn
Keywords: news, cnbc, companies, box, growth, booking, hours, disappointing, providing, earnings, reports, beating, fell, declines, tech, company, trading, stocks, square, earlier


Tech stocks take a beating after hours on disappointing earnings reports

Wednesday was a bad day to report tech earnings.

HP, Box, Square and Booking all plummeted in extended trading after providing quarterly numbers or forecasts that disappointed investors. Box led the declines, dropping as much as 23 percent on weaker-than-expected guidance. Fitbit was down 13 percent as it gave a dim forecast for earnings and revenue.

The declines came after the Dow Jones Industrial Average and S&P 500 both closed regular trading in the red. Earlier on Wednesday, Fed Chairman Jay Powell said during his testimony on Capitol Hill that “financial conditions are now less supportive of growth than they were earlier last year.”

HP and Square both fell 6 percent after their reports. HP’s revenue was up 1.3 percent, the lowest growth rate in two years.

Software company Alteryx dropped more than 5 percent, and Booking, the parent of Priceline and Kayak, slumped 10 percent.

Elastic, an open-source software company that went public last year, fell 8 percent even after surpassing estimates for the last quarter and providing optimistic guidance.

This is breaking news. Please check back for updates.

WATCH: Box CEO: We’re seeing our business become more seasonal


Company: cnbc, Activity: cnbc, Date: 2019-02-27  Authors: jordan novet, scott mlyn
Keywords: news, cnbc, companies, box, growth, booking, hours, disappointing, providing, earnings, reports, beating, fell, declines, tech, company, trading, stocks, square, earlier


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Tech stocks take a beating after hours on disappointing earnings reports

HP, Box, Square and Booking all plummeted in extended trading after providing quarterly numbers or forecasts that disappointed investors. Fitbit was down 13 percent as it gave a dim forecast for earnings and revenue. The declines came after the Dow Jones Industrial Average and S&P 500 both closed regular trading in the red. HP and Square both fell 6 percent after their reports. Booking reported $3.21 billion in revenue in its January quarter, just below the $3.22 billion Refinitiv consensus.


HP, Box, Square and Booking all plummeted in extended trading after providing quarterly numbers or forecasts that disappointed investors. Fitbit was down 13 percent as it gave a dim forecast for earnings and revenue. The declines came after the Dow Jones Industrial Average and S&P 500 both closed regular trading in the red. HP and Square both fell 6 percent after their reports. Booking reported $3.21 billion in revenue in its January quarter, just below the $3.22 billion Refinitiv consensus.
Tech stocks take a beating after hours on disappointing earnings reports Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-27  Authors: jordan novet, scott mlyn
Keywords: news, cnbc, companies, box, growth, booking, hours, disappointing, providing, earnings, reports, beating, revenue, fell, quarter, tech, trading, stocks, square, earlier


Tech stocks take a beating after hours on disappointing earnings reports

Wednesday was a bad day to report tech earnings.

HP, Box, Square and Booking all plummeted in extended trading after providing quarterly numbers or forecasts that disappointed investors. Box led the declines, dropping as much as 23 percent on weaker-than-expected guidance. Fitbit was down 13 percent as it gave a dim forecast for earnings and revenue.

The declines came after the Dow Jones Industrial Average and S&P 500 both closed regular trading in the red. Earlier on Wednesday, Fed Chairman Jay Powell said during his testimony on Capitol Hill that “financial conditions are now less supportive of growth than they were earlier last year.”

HP and Square both fell 6 percent after their reports. HP’s revenue was up 1.3 percent, the lowest growth rate in two years.

Software company Alteryx dropped more than 5 percent, and Booking, the parent of Priceline and Kayak, slumped 10 percent. Booking reported $3.21 billion in revenue in its January quarter, just below the $3.22 billion Refinitiv consensus.

Elastic, an open-source software company that went public last year, fell 8 percent even after surpassing estimates for the last quarter and providing optimistic guidance.

This is breaking news. Please check back for updates.

WATCH: Box CEO: We’re seeing our business become more seasonal


Company: cnbc, Activity: cnbc, Date: 2019-02-27  Authors: jordan novet, scott mlyn
Keywords: news, cnbc, companies, box, growth, booking, hours, disappointing, providing, earnings, reports, beating, revenue, fell, quarter, tech, trading, stocks, square, earlier


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Rubio promises anti-buyback bill ‘soon,’ but says he still supports free market over socialism

While the earlier presentation came from the Small Business Committee, which Rubio chairs, the tweets gave him the opportunity to state his personal views. Rubio’s aggressive approach to disincentivize buybacks puts him in line with prominent Democrats who have vowed to come down on the practice. In another, he rejected the reasoning corporate heads give for repurchasing shares rather than reinvesting in other parts of the company. Rubio said he believes in a free market and not socialism, but t


While the earlier presentation came from the Small Business Committee, which Rubio chairs, the tweets gave him the opportunity to state his personal views. Rubio’s aggressive approach to disincentivize buybacks puts him in line with prominent Democrats who have vowed to come down on the practice. In another, he rejected the reasoning corporate heads give for repurchasing shares rather than reinvesting in other parts of the company. Rubio said he believes in a free market and not socialism, but t
Rubio promises anti-buyback bill ‘soon,’ but says he still supports free market over socialism Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-13  Authors: jeff cox
Keywords: news, cnbc, companies, promises, earlier, wages, week, market, rubio, socialism, bill, democrats, supports, soon, free, views, antibuyback, vowed, preference, buybacks


Rubio promises anti-buyback bill 'soon,' but says he still supports free market over socialism

While the earlier presentation came from the Small Business Committee, which Rubio chairs, the tweets gave him the opportunity to state his personal views. Rubio’s aggressive approach to disincentivize buybacks puts him in line with prominent Democrats who have vowed to come down on the practice.

“No tax advantage for buybacks over dividends. But we’re going to give permanent preference to investments that will drive the creation of jobs & increase in wages,” he said in one tweet.

In another, he rejected the reasoning corporate heads give for repurchasing shares rather than reinvesting in other parts of the company.

Rubio said he believes in a free market and not socialism, but that current rules have to be changed to ensure that capitalism prevails.

Companies put just more than $1 trillion into buybacks in 2018, though stocks still did poorly as the S&P 500 lost more than 6 percent.

The preference for capital and personnel investment isn’t limited to Rubio and the Democrats — the Bank of America Merrill Lynch Fund Manager Survey for January, released earlier this week, showed the lowest level in its history of those favoring buybacks. Instead, the market pros who responded said they most want companies to reduce debt.


Company: cnbc, Activity: cnbc, Date: 2019-02-13  Authors: jeff cox
Keywords: news, cnbc, companies, promises, earlier, wages, week, market, rubio, socialism, bill, democrats, supports, soon, free, views, antibuyback, vowed, preference, buybacks


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Facebook 4Q earnings preview

On Facebook’s last earnings call in October, CEO Mark Zuckerberg spoke excitedly about the company’s growth opportunities in its Stories product, an important segue for investors who were focused on the disappointing revenue and user numbers. Facebook is undergoing a major shift in how it generates revenue from advertisers. Investors will be eagerly awaiting an update on how well that plan is working when Facebook reports fourth-quarter results after the closing bell on Wednesday. Analysts expec


On Facebook’s last earnings call in October, CEO Mark Zuckerberg spoke excitedly about the company’s growth opportunities in its Stories product, an important segue for investors who were focused on the disappointing revenue and user numbers. Facebook is undergoing a major shift in how it generates revenue from advertisers. Investors will be eagerly awaiting an update on how well that plan is working when Facebook reports fourth-quarter results after the closing bell on Wednesday. Analysts expec
Facebook 4Q earnings preview Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-30  Authors: salvador rodriguez, marlene awaad, bloomberg, getty images
Keywords: news, cnbc, companies, revenue, zuckerberg, mark, facebooks, feed, facebook, preview, share, 4q, growth, earlier, earnings


Facebook 4Q earnings preview

On Facebook’s last earnings call in October, CEO Mark Zuckerberg spoke excitedly about the company’s growth opportunities in its Stories product, an important segue for investors who were focused on the disappointing revenue and user numbers.

“I just think that this is the future,” Zuckerberg told analysts. “The opportunity will be even bigger because it looks like Stories will be a bigger medium than Feed has been.”

Facebook is undergoing a major shift in how it generates revenue from advertisers. Instead of counting on ads sold across the site’s core News Feed and the feed on Instagram, Facebook is gearing up to make more money from Stories, the user-generated photos and videos that take over an entire screen.

Investors will be eagerly awaiting an update on how well that plan is working when Facebook reports fourth-quarter results after the closing bell on Wednesday.

Analysts expect Facebook to report revenue growth of 26 percent to $16.4 billion, from $13 billion a year earlier, according to estimates compiled by Refinitiv. That would mark the slowest year-over-year growth for any quarter since Facebook’s IPO in 2012. Net income likely increased to $2.19 a share from $1.44 a year earlier, when earnings were reduced by 77 cents a share due to changes in the tax code.


Company: cnbc, Activity: cnbc, Date: 2019-01-30  Authors: salvador rodriguez, marlene awaad, bloomberg, getty images
Keywords: news, cnbc, companies, revenue, zuckerberg, mark, facebooks, feed, facebook, preview, share, 4q, growth, earlier, earnings


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Square shares fall after Raymond James downgrades stock and predicts nearly 30% retreat

The firm has a $56 fair value price for Square’s stock — roughly 27 percent below where it closed on Monday. The stock has been on a tear over the past year, up 61 percent from last January. The fintech company re-filed its application for an industrial loan company charter in December after pulling it earlier in the year to answer questions from regulators. If approved, Square would also get access to a coveted feature of the banking world — deposit insurance. Revenue upside from some of its ne


The firm has a $56 fair value price for Square’s stock — roughly 27 percent below where it closed on Monday. The stock has been on a tear over the past year, up 61 percent from last January. The fintech company re-filed its application for an industrial loan company charter in December after pulling it earlier in the year to answer questions from regulators. If approved, Square would also get access to a coveted feature of the banking world — deposit insurance. Revenue upside from some of its ne
Square shares fall after Raymond James downgrades stock and predicts nearly 30% retreat Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-29  Authors: kate rooney, yana paskova, bloomberg, getty images
Keywords: news, cnbc, companies, raymond, nearly, retreat, small, earlier, company, fintech, square, downgrades, squares, products, fall, predicts, upside, likely, james, stock, shares


Square shares fall after Raymond James downgrades stock and predicts nearly 30% retreat

The firm has a $56 fair value price for Square’s stock — roughly 27 percent below where it closed on Monday. The stock has been on a tear over the past year, up 61 percent from last January. In 2019 alone, it’s up 30 percent.

Raymond James is also bearish on Square’s move into banking. The fintech company re-filed its application for an industrial loan company charter in December after pulling it earlier in the year to answer questions from regulators. The move would allow Square to operate without going through outside banks and intermediaries. If approved, Square would also get access to a coveted feature of the banking world — deposit insurance.

“Adding more credit- and bank- related products increases the cyclicality of an already macro sensitive business and would likely be multiple dilutive,” Davis said.

Square is best known for its credit-card processing hardware. But it also has a popular peer-to-peer payment app, the Cash App, has moved into small business lending through Square Capital, and debuteda debit card for small businesses earlier in January.

Revenue upside from some of its newer products is “likely to prove more difficult” this year though, and the fintech company will have to rely on its core businesses, according to Raymond James.

“We believe revenue upside will likely be more muted this year as subs and services will likely once again need to be the driver of significant upside,” Davis said.


Company: cnbc, Activity: cnbc, Date: 2019-01-29  Authors: kate rooney, yana paskova, bloomberg, getty images
Keywords: news, cnbc, companies, raymond, nearly, retreat, small, earlier, company, fintech, square, downgrades, squares, products, fall, predicts, upside, likely, james, stock, shares


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Apple’s 2020 iPhones will likely get upgraded displays after the XR disappoints

Apple’s full line of 2020 iPhones are likely to get a display upgrade and ditch LCD completely, according to The Wall Street Journal. The iPhone XR is the only model in Apple’s latest iPhone release that still uses an LCD display, rather than an organic light-emitting diode (OLED) display, which allows for greater design flexibility and is supposed to show a higher quality color display. But the phone, which was expected to be more appealing to budget-conscious shoppers with a price tag starting


Apple’s full line of 2020 iPhones are likely to get a display upgrade and ditch LCD completely, according to The Wall Street Journal. The iPhone XR is the only model in Apple’s latest iPhone release that still uses an LCD display, rather than an organic light-emitting diode (OLED) display, which allows for greater design flexibility and is supposed to show a higher quality color display. But the phone, which was expected to be more appealing to budget-conscious shoppers with a price tag starting
Apple’s 2020 iPhones will likely get upgraded displays after the XR disappoints Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-22  Authors: lauren feiner, vcg, visual china group, getty images, todd haselton
Keywords: news, cnbc, companies, likely, month, xr, model, apples, lcd, disappoints, xs, iphones, earlier, upgraded, displays, iphone, display, sales, 2020


Apple's 2020 iPhones will likely get upgraded displays after the XR disappoints

Apple’s full line of 2020 iPhones are likely to get a display upgrade and ditch LCD completely, according to The Wall Street Journal.

The iPhone XR is the only model in Apple’s latest iPhone release that still uses an LCD display, rather than an organic light-emitting diode (OLED) display, which allows for greater design flexibility and is supposed to show a higher quality color display. But the phone, which was expected to be more appealing to budget-conscious shoppers with a price tag starting at $750 rather than $999 for the XS, has failed to meet sales expectations. Earlier this month, Apple published a letter to investors downgrading its guidance for its first quarter 2019 in light of weak iPhone sales, among other factors.

However, CEO Tim Cook told CNBC earlier this month that the XR has been Apple’s best-selling iPhone model since it launched last fall.


Company: cnbc, Activity: cnbc, Date: 2019-01-22  Authors: lauren feiner, vcg, visual china group, getty images, todd haselton
Keywords: news, cnbc, companies, likely, month, xr, model, apples, lcd, disappoints, xs, iphones, earlier, upgraded, displays, iphone, display, sales, 2020


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Delta CEO: Government shutdown will cost the airline $25 million this month

The partial U.S. government shutdown will cost Delta Air Lines about $25 million in revenue this month as fewer government contractors and employees are traveling, the airline’s, CEO Ed Bastian, said Tuesday. The shutdown is the longest ever and has left some 800,000 government employees furloughed or working without pay. Delta, which reported fourth-quarter earnings earlier Tuesday, said it expects the shutdown, along with currency headwinds and a later Easter this year, to dent its revenue in


The partial U.S. government shutdown will cost Delta Air Lines about $25 million in revenue this month as fewer government contractors and employees are traveling, the airline’s, CEO Ed Bastian, said Tuesday. The shutdown is the longest ever and has left some 800,000 government employees furloughed or working without pay. Delta, which reported fourth-quarter earnings earlier Tuesday, said it expects the shutdown, along with currency headwinds and a later Easter this year, to dent its revenue in
Delta CEO: Government shutdown will cost the airline $25 million this month Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-15  Authors: leslie josephs, phil lebeau, al seib, los angeles times, getty images
Keywords: news, cnbc, companies, cost, shutdown, revenue, earlier, working, employees, airline, month, million, 25, unit, months, delta, yearearlier, ceo, tuesdaythe


Delta CEO: Government shutdown will cost the airline $25 million this month

The partial U.S. government shutdown will cost Delta Air Lines about $25 million in revenue this month as fewer government contractors and employees are traveling, the airline’s, CEO Ed Bastian, said Tuesday.

The shutdown is the longest ever and has left some 800,000 government employees furloughed or working without pay.

Delta, which reported fourth-quarter earnings earlier Tuesday, said it expects the shutdown, along with currency headwinds and a later Easter this year, to dent its revenue in the first three months of the year. Unit revenue, which measures its revenue for every seat it flies a mile, will be flat to up 2 percent in the three months ending March 31, compared with the year-earlier period. Delta posted $10.74 billion in revenue for the last three months of the year, up 5 percent from a year earlier.


Company: cnbc, Activity: cnbc, Date: 2019-01-15  Authors: leslie josephs, phil lebeau, al seib, los angeles times, getty images
Keywords: news, cnbc, companies, cost, shutdown, revenue, earlier, working, employees, airline, month, million, 25, unit, months, delta, yearearlier, ceo, tuesdaythe


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

China rebounds on trade hopes as Japan slips more than 2 percent

Hong Kong’s Hang Seng index extended gains to rise about 2 percent, as of its final hour of trade. The positive moves in China came after the country’s commerce ministry announced that vice ministerial level trade talks with the U.S. would be held on Jan. 7-8. South Korea’s Kospi also recovered from its earlier losses to close 0.83 percent higher at 2,010.25. Australia stocks fell as the benchmark ASX 200 slipped 0.25 percent to close at 5,619.4. National Australia Bank, on the other hand, recov


Hong Kong’s Hang Seng index extended gains to rise about 2 percent, as of its final hour of trade. The positive moves in China came after the country’s commerce ministry announced that vice ministerial level trade talks with the U.S. would be held on Jan. 7-8. South Korea’s Kospi also recovered from its earlier losses to close 0.83 percent higher at 2,010.25. Australia stocks fell as the benchmark ASX 200 slipped 0.25 percent to close at 5,619.4. National Australia Bank, on the other hand, recov
China rebounds on trade hopes as Japan slips more than 2 percent Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-04  Authors: eustance huang
Keywords: news, cnbc, companies, losses, higher, stocks, hopes, slips, index, japan, trading, earlier, close, markets, china, fell, rebounds, trade


China rebounds on trade hopes as Japan slips more than 2 percent

Asia markets were mostly higher on Friday as developments on the U.S.-China trade front overcame fears of a slowdown in the global economy which resulted in sharp declines in stocks stateside overnight.

The Chinese mainland markets rebounded strongly after an earlier slip. The Shanghai composite bounced about 2.05 percent higher to close at around 2,514.87 and the Shenzhen composite jumped 2.658 percent to finish its trading day at approximately 1,279.49. The Shenzhen component rose 2.756 percent to close at about 7,284.84.

Hong Kong’s Hang Seng index extended gains to rise about 2 percent, as of its final hour of trade.

The positive moves in China came after the country’s commerce ministry announced that vice ministerial level trade talks with the U.S. would be held on Jan. 7-8.

The development on the trade front was also bolstered by positive data from China’s services sector. The Caixin/Markit services purchasing managers’ index jumped to a six-month high of 53.9 in December, rising from 53.8 in the previous month. The figure was significantly higher than the 50.0 mark which separates expansion from contraction.

The data came days after China reported a decline in its factory activity for December.

South Korea’s Kospi also recovered from its earlier losses to close 0.83 percent higher at 2,010.25.

Japan’s Nikkei 225, however, dropped 2.26 percent to close at 19,561.96 while the Topix index fell 1.53 percent to finish the trading day at 1,471.16, with most sectors seeing declines. Shares of Japanese conglomerate Softbank fell 2.89 percent and Fast Retailing, the company behind the Uniqlo chain of apparel stores, dropped 5.45 percent. Stocks in Japan were closed on Wednesday and Thursday for holidays.

Australia stocks fell as the benchmark ASX 200 slipped 0.25 percent to close at 5,619.4.

The heavily-weighted financial subindex declined 0.34 percent as shares of the country’s so-called Big Four banks were mixed; Australia and New Zealand Banking Group slipped 0.37 percent and Westpac saw losses of 0.04 percent. National Australia Bank, on the other hand, recovered from earlier losses to rise 0.21 percent while Commonwealth Bank of Australia was slightly higher.

“For the brave, now would be a good time to be looking at … some of these markets,” Stefan Hofer, a managing director and chief investment strategist at LGT Bank Asia, told CNBC’s “Squawk Box” on Friday. Hofer added that liquidity and trading volumes are “still quite thin at the outset of the year.”

“Fundamentally speaking, I think if we do have a trade deal with China, let’s say, by the middle of 2019, then Asia … will be the place to be in terms of equities,” he said, adding that the ongoing U.S.-China trade war has been “the major overhang that has been a problem” for Asian markets.


Company: cnbc, Activity: cnbc, Date: 2019-01-04  Authors: eustance huang
Keywords: news, cnbc, companies, losses, higher, stocks, hopes, slips, index, japan, trading, earlier, close, markets, china, fell, rebounds, trade


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post