Netflix just had its worst day in three years – 7 experts on what comes next

But, just a little-known fact [is] that the second-quarter earnings for Netflix have been historically the worst for the stock. Ritholtz Wealth Management CEO Josh Brown says he doesn’t think Netflix can make up for the loss of big shows such as “Friends” and “The Office.” The new Netflix shows, it’s like six episodes, they’re an hour long each — and they cost probably five times as much. When you look at the longer-term picture, this is really interesting, because the stock really has been begi


But, just a little-known fact [is] that the second-quarter earnings for Netflix have been historically the worst for the stock. Ritholtz Wealth Management CEO Josh Brown says he doesn’t think Netflix can make up for the loss of big shows such as “Friends” and “The Office.” The new Netflix shows, it’s like six episodes, they’re an hour long each — and they cost probably five times as much. When you look at the longer-term picture, this is really interesting, because the stock really has been begi
Netflix just had its worst day in three years – 7 experts on what comes next Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: araceli crescencio
Keywords: news, cnbc, companies, experts, comes, think, day, netflix, quarter, stock, content, price, going, shows, worst, things, really


Netflix just had its worst day in three years – 7 experts on what comes next

Netflix is not so chill right now.

For the first time since 2011, Netflix reported a loss of 126,000 U.S. subscribers in its most recent three-month stretch. International subscribers increased by only 2.7 million, far below expectations of 5 million.

Shares dropped more than 10% on Thursday, a day after the report came out.

With a handful of other streaming services getting ready to compete for Netflix’s market share, there is a lot of uncertainty in how the ‘streaming wars’ play out. Here’s what seven experts think comes next.

Paul Hickey, co-founder of Bespoke Investment Group, sees a bright future in the fourth quarter even after this disappointing earnings report.

“To be fair, their subscription numbers often vary widely from estimates… Normally, they’re much better, so this is not great news. But, just a little-known fact [is] that the second-quarter earnings for Netflix have been historically the worst for the stock. It averages a decline of 6% when it reports second-quarter earnings. Fourth quarter is the best quarter for the stock… I think it’s seasonality… So, it’s a weak quarter, but in our survey work that we’ve done, we were interviewing consumers about this. 59% of Netflix subscribers have used it in the last 24 hours. So, it’s very sticky competition — they’re looking at Disney Plus as more of a compliment as opposed to competition for the service. And low single digits view “The Office” or “Friends” as a requirement for Netflix… I like to think of those things as the bread when you go out to a restaurant. It’s there, everybody eats it, but at the end of the day that’s not what you’re buying.”

Ritholtz Wealth Management CEO Josh Brown says he doesn’t think Netflix can make up for the loss of big shows such as “Friends” and “The Office.”

“Do you buy the argument that they’re going to free up budget and easily replace things like “Friends” and “The Office”? Because I got to tell you, those shows were made in a different era where you can reasonably produce 23 episodes a season, and do that for eight seasons. That is a lot of shows. The new Netflix shows, it’s like six episodes, they’re an hour long each — and they cost probably five times as much. So, I don’t know that you can just say, ‘Oh well, we’re not going to pay content and licensing fees, we’ll just make the next “Friends.'”

Bernie McTernan, vice president at Rosenblatt Securities, says in the era of “binge watching,” Netflix needs to focus on pushing out content.

“They’re increasingly focused on churn-reduction strategies — and that’s going with comedy specials, with movies, and documentaries… “Stranger Things” was great, but the problem is it’s hard having 12 of those a year. And then with Netflix increasingly encouraging binge-watching, you need 52 of those a year to really hold on to subscribers. So, Netflix made a very difficult game for streaming and media companies, but now they need to play in that sandbox.”

Gene Munster, founder of Loup Ventures, says with more streaming services launching, the best days of Netflix are behind it.

“I don’t like to pile on when things are negative, but I just want to try to have a most clear view of what’s going on. And what’s happened, even if you account for a pull-forward, that they didn’t give proper guidance for, this is negative. We’re going to look back at this quarter as one of the pivotal moments in the Netflix story. I think the key insight here is that the content lineup that they had in the June quarter just simply didn’t get the job done. We can talk about what’s coming in terms of competition, but ultimately that is the tip of the spear of this story. When you put a layer on top of that content, things are going to get more difficult when you layer on top of that the valuation, and I want to enumerate that 52 times next year’s earnings, and that’s on this lower stock price. Compare that to Apple at 15 just as a point of reference… I think we will look back at this quarter as representative of the best days of Netflix are behind it.”

Mark Newton, founder of Newton Advisors, says the stock is likely to keep going down and investors should pay attention to buy on the dip.

“When you take a look at the longer-term chart, it’s really interesting, because the stock has really gone nowhere over the last six months, obviously lagging other FANG stocks like Facebook [and] Amazon. Today’s move is going to put this under the lows of this entire range going back since the beginning of the year… When you look at the longer-term picture, this is really interesting, because the stock really has been beginning, what I view, as a longer-term consolidation triangle. So, getting down near $275 is really the area I would pay attention to and look to buy on dip. So, if it’s under $322 by Friday, my thinking is it is going to show further losses to come.”

Lee Horowitz, vice president at Evercore ISI, says the weak growth in subscribers shows Netflix needs to invest more heavily in content.

“Well, obviously, it was a big subscriber miss in the quarter — and it brought about two very important questions for us that we think investors are contemplating today. Netflix’s ability to raise price in lieu of rising competition. We saw elevated churn in this quarter from the price increase as well as its ongoing need to invest in content. The company called out, you know, their inability to meet their subscriber estimates based on what was seen to be a weaker content slate. So, to us, that shows the need to continue to invest heavily in content… We don’t think their [price increases are] too hard to do, but perhaps the magnitude that we saw in this quarter won’t be as large as we move forward. And perhaps the time between the next price hike might be a little bit longer.”

John Blackledge of Cowen says Netflix needs to be strategic in when to next hike prices.

“They’ll probably think about the cadence of price hikes relative to what quarter they should do it. Reed Hastings also said last night that net adds in 2019 will be greater than 2018, and we think there’s a path for that and the path would be the subtrends to start Q3 are very strong. They’re accelerating gross net adds, probably led by “Stranger Things” and also higher retention, and they also have an incredible content slate in the back half of the year.”

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Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: araceli crescencio
Keywords: news, cnbc, companies, experts, comes, think, day, netflix, quarter, stock, content, price, going, shows, worst, things, really


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Here’s what experts predict will be the best deals during Amazon Prime Day

If Amazon Prime Day has you feeling overwhelmed, you’re not alone. Almost eight out of 10 Prime members in the U.S. are planning to shop on Prime Day this year, up from 63% last year, according to a new study from Profitero. “Last year’s Prime Day deal for this device was $64.99,” Regina Conway, consumer expert for deal site Slickdeals, tells CNBC Make It. “This is something we would predict will likely continue to have price drops around Prime Day.” While electronics across the board will see b


If Amazon Prime Day has you feeling overwhelmed, you’re not alone. Almost eight out of 10 Prime members in the U.S. are planning to shop on Prime Day this year, up from 63% last year, according to a new study from Profitero. “Last year’s Prime Day deal for this device was $64.99,” Regina Conway, consumer expert for deal site Slickdeals, tells CNBC Make It. “This is something we would predict will likely continue to have price drops around Prime Day.” While electronics across the board will see b
Here’s what experts predict will be the best deals during Amazon Prime Day Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-12  Authors: megan leonhardt
Keywords: news, cnbc, companies, experts, heres, tv, big, prime, best, day, deals, predict, amazon, discounts, members, lehmann, products


Here's what experts predict will be the best deals during Amazon Prime Day

If Amazon Prime Day has you feeling overwhelmed, you’re not alone. But planning ahead could help: Shopping experts say you can start to narrow down your shopping list now so you don’t miss a great deal or, worse, end up with a ton of returns. Prime Day, which starts on July 15 and runs two days this year, offers members (and members only) huge discounts on a wide variety of products. Almost eight out of 10 Prime members in the U.S. are planning to shop on Prime Day this year, up from 63% last year, according to a new study from Profitero. But some deals are better than others, especially if you’re looking to snap up a big-ticket item. To help you narrow down your shopping list and snag the best deals, here are the five types of products that experts believe will rack up the deepest discounts during Prime Day.

Amazon Services

Amazon’s own products get a major push on Prime Day, so if you’ve been tempted to subscribe to some of its services, including Amazon Music and Kindle Unlimited, now is the time to do it. Amazon is already offering a 66% discount off the cost of audiobook service Audible. Prime members can get their first three months for $4.95 a month. For groceries, Amazon is offering $10 off Prime Pantry orders of $40 or more. And if Prime members spend at least $10 at a Whole Foods store or through Prime Now (which partners with the grocery retailer) from now through July 16, they’ll receive a $10 credit to use on Amazon for Prime Day purchases. “Amazon has a lot of control over the pricing of their own brands, and is very well known to be willing to take a short-term loss to gain market share,” Rebecca Lehmann of Brad’s Deals tells CNBC Make It. “In the past we’ve seen Amazon use Prime Day to drive awareness and gain exposure for these brands, and I think we are going to see even more of that this year.”

Amazon Electronics

If you’ve been eyeing an Alexa-enabled device, such as the Echo, hold out for Prime Day on Monday. “Last year’s Prime Day deal for this device was $64.99,” Regina Conway, consumer expert for deal site Slickdeals, tells CNBC Make It. “This is something we would predict will likely continue to have price drops around Prime Day.” Typically it retails for $100. Ring video doorbells are already on sale for $169, and if you buy one, Amazon will throw in an Echo Dot for free. The bundle is usually $299, so you’re saving $130. Beyond its Echo line of home products, experts also predict other Amazon electronics will see deep discounts, including the Fire TV stick and the Kindle Paperwhite. Amazon also collaborates with TV manufacturers, so expect these TVs to be on sale. “I think we’re going to see some big Prime Day discounts with a focus on the 55 ” Fire Smart TV model, ” Lehmann says. Last year, the Prime Day deal around the Toshiba 50″ 4K Amazon Fire Smart TV, which dropped from $399 to $290, proved popular. “It was one of the lowest prices we’d seen for a 50″ Smart TV and this particular TV had never been discounted before,” Lehmann says. In late June, Amazon launched an update to the Fire Smart TV line with the 55 ” Toshiba including Dolby Vision for dynamic HDR. Lehmann says the timing is “no accident.”

Name-brand electronics and other accessories

“While Amazon has focused some of their biggest discounts on their own electronic devices, there are plenty of deals to be had,” Sara Skirboll, shopping and trends expert at RetailMeNot, tells CNBC Make It. Headphones will again be big, Tiara Rea-Palmer, head of retail at CouponFollow, tells CNBC Make It. That includes noise-cancelling, earbuds and even expensive brands like Beats, which have had discounts as high as 55% off in past years. Be on the lookout for Apple products as well, since Amazon is now an authorized Apple retailer. The Apple Watch 4 is already on sale for $399, down from $429. And Apple AirPods with Wireless Charging Case are $180, $20 off the retail price. Lehmann says she expects to see iPad discounts during Prime Day as well. While electronics across the board will see big discounts during Prime Day, Skirboll says that consumers need to carefully check prices. “Some of the biggest deals of the year from the retail industry on things like consumer electronics are still concentrated on Black Friday,” she says. Unless you see a really great price on an item you need now, you might save more by holding out until November for things like TVs, laptops and cameras.

Gaming

Video game bundles will be another area where shoppers can save big, Rea-Palmer says. “Although you probably won’t find a sale on a Nintendo Switch, you can likely save with a Switch bundle on Prime Day,” she says. Consumers should watch for bundle gaming deals for Nintendo, Xbox and PS4. But before you buy, make sure you’re going to use all the components of the bundle, which typically include games, controllers or cases. Otherwise, it may not be a good value for you. Gaming accessories will also be big, Conway says. For example, she expects the price on the ViewSonic Elite XG350R-C 35 ” UltraWide Curved Gaming Monitor to drop by $140 during Prime Day, from $699.99 to $559.99.

Small appliances


Company: cnbc, Activity: cnbc, Date: 2019-07-12  Authors: megan leonhardt
Keywords: news, cnbc, companies, experts, heres, tv, big, prime, best, day, deals, predict, amazon, discounts, members, lehmann, products


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US tech companies face new French tax – four experts weigh in

U.S. tech companies are facing more scrutiny from Europe. France’s Senate on Thursday approved a tax on revenues from major tech companies, including Google, Amazon and Facebook, raising the ire of the White House. Stephanie Link of Nuveen sees value in one corner of the tech market. “I understand why you want to own some software, software as a service, but they do trade at 30 to 50 times forward earnings. The better value would be in the semiconductor space and even the FANG because they have


U.S. tech companies are facing more scrutiny from Europe. France’s Senate on Thursday approved a tax on revenues from major tech companies, including Google, Amazon and Facebook, raising the ire of the White House. Stephanie Link of Nuveen sees value in one corner of the tech market. “I understand why you want to own some software, software as a service, but they do trade at 30 to 50 times forward earnings. The better value would be in the semiconductor space and even the FANG because they have
US tech companies face new French tax – four experts weigh in Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-11  Authors: keris lahiff
Keywords: news, cnbc, companies, companies, tech, tax, white, stocks, software, face, french, youve, value, experts, think, weigh, trade, regulation


US tech companies face new French tax – four experts weigh in

U.S. tech companies are facing more scrutiny from Europe.

France’s Senate on Thursday approved a tax on revenues from major tech companies, including Google, Amazon and Facebook, raising the ire of the White House.

Here’s what the impact could be.

Larry McDonald of Bear Traps Report says the political pressure will hurt tech stocks ahead of the next election:

“You’re talking about companies that are trading at 6 to 10 times sales, earnings multiples are up near 20, and you’ve got a perfect storm coming. You’ve got a number of debates on the Democratic party side, they know that Trump stole a large section of democrats and independents in the last election so they’re moving to the populist realm and then you’ve got a White House that sees this… you’re talking about a White House and Elizabeth Warren and Bernie [Sanders] that are really going to come down hard and pressure the DoJ to act.”

Mark Mahaney, lead internet analyst at RBC Capital, says the threat of increased regulation is coming.

“I look at these large platforms – Google, Facebook, Twitter perhaps – their biggest threats are competition, maturity and regulation but regulation has clearly rared up over the last three or four years to something I don’t think we’ve ever seen before. I think the break-up risk of these assets is extremely low but that there’ll be increased regulations, fines, some restrictions on targeting.”

John Freeman of CFRA Research says the opportunities outweigh the risk.

“Outside of the regulatory risk, these businesses are doing very, very well and I don’t think that valuation is really a concern for those companies at least relative to their growth prospects… I would take issue with their call on software stocks particularly software-as-a-service stocks or cloud stocks. There may be a couple that are overvalued and I think they stand out but I think what’s underappreciated here is the tremendous amount of operating leverage that these businesses have inherently.”

Stephanie Link of Nuveen sees value in one corner of the tech market.

“I understand why you want to own some software, software as a service, but they do trade at 30 to 50 times forward earnings. They do have operating leverage and they do have recurring revenue. That’s why they trade where they do. Expectations are high and it’s a very crowded space. The better value would be in the semiconductor space and even the FANG because they have been dragged down on regulation.”

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Company: cnbc, Activity: cnbc, Date: 2019-07-11  Authors: keris lahiff
Keywords: news, cnbc, companies, companies, tech, tax, white, stocks, software, face, french, youve, value, experts, think, weigh, trade, regulation


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Here’s an example of the perfect resume, according to Harvard career experts

Just the thought of writing a resume can lead to a huge headache. But it doesn’t have to be so complicated. Try to think of your resume as an award-winning short memoir about your professional experience. Here’s what a strong resume looks like, according to Harvard career experts (click here to enlarge):IMAGE CREDIT: Harvard University, Office of Career Services / Harvard Extension School, Career and Academic Resource CenterDon’t know where to start? The career experts suggest considering the es


Just the thought of writing a resume can lead to a huge headache. But it doesn’t have to be so complicated. Try to think of your resume as an award-winning short memoir about your professional experience. Here’s what a strong resume looks like, according to Harvard career experts (click here to enlarge):IMAGE CREDIT: Harvard University, Office of Career Services / Harvard Extension School, Career and Academic Resource CenterDon’t know where to start? The career experts suggest considering the es
Here’s an example of the perfect resume, according to Harvard career experts Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-10  Authors: dustin mckissen
Keywords: news, cnbc, companies, unique, heres, resume, perfect, harvard, example, according, writing, try, truth, experts, university, written, career


Here's an example of the perfect resume, according to Harvard career experts

Just the thought of writing a resume can lead to a huge headache.

But it doesn’t have to be so complicated. Try to think of your resume as an award-winning short memoir about your professional experience.

Certainly, they aren’t exactly the same (resumes shouldn’t be written in a narrative style), but both share a few similarities: They tell the truth, differentiate you from others, highlight your most unique qualities and capture readers’ attention.

Here’s what a strong resume looks like, according to Harvard career experts (click here to enlarge):

IMAGE CREDIT: Harvard University, Office of Career Services / Harvard Extension School, Career and Academic Resource Center

Don’t know where to start? The career experts suggest considering the essential tips below:


Company: cnbc, Activity: cnbc, Date: 2019-07-10  Authors: dustin mckissen
Keywords: news, cnbc, companies, unique, heres, resume, perfect, harvard, example, according, writing, try, truth, experts, university, written, career


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Nursing mothers are selling and donating their milk using Facebook groups, and experts have mixed views about it

The problem is particularly acute for parents of sick or premature infants, who may not be able to digest formula as well as human milk. So to find parents who wanted it, Davis joined several private groups on Facebook that are dedicated to human breast milk exchange. Others are open pages, like the Human Milk 4 Human Babies Global Network, which has more than 80,000 likes. No controlsMost of the groups that have popped up on Facebook specialize in donated milk from mothers like Davis. It’s poss


The problem is particularly acute for parents of sick or premature infants, who may not be able to digest formula as well as human milk. So to find parents who wanted it, Davis joined several private groups on Facebook that are dedicated to human breast milk exchange. Others are open pages, like the Human Milk 4 Human Babies Global Network, which has more than 80,000 likes. No controlsMost of the groups that have popped up on Facebook specialize in donated milk from mothers like Davis. It’s poss
Nursing mothers are selling and donating their milk using Facebook groups, and experts have mixed views about it Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-07  Authors: christina farr
Keywords: news, cnbc, companies, facebook, human, davis, mixed, breast, babies, son, mothers, milk, groups, donated, selling, using, san, views, experts, nursing, donor


Nursing mothers are selling and donating their milk using Facebook groups, and experts have mixed views about it

Bojan Fatur | E+ | Getty Images

Within weeks of giving birth, first-time mother Kyra Davis realized she was producing more milk than her baby needed. So she began storing it in her fridge and freezer at her San Francisco home. Davis had heard about the well-documented shortages at donor banks across the country. The problem is particularly acute for parents of sick or premature infants, who may not be able to digest formula as well as human milk. So to find parents who wanted it, Davis joined several private groups on Facebook that are dedicated to human breast milk exchange. Some of these Facebook groups are closed, meaning that outsiders can view them but cannot join without approval, such as Human Milk For Babies, a group that has more than two thousand members and promotes donation rather than sales of milk, and Buy, Sell, and Donate Breast Milk, with more than 5,000 members. Others are open pages, like the Human Milk 4 Human Babies Global Network, which has more than 80,000 likes.

Kyra Davis and her son Jude Kyra Davis

Davis is now donating her milk to about 7 or 8 families, most of whom she met on Facebook. They’ll pick up 50 ounces or more from her — enough to feed very young babies for at least two days, in most cases — and will often bring small tokens of their appreciation, like a home-cooked meal. Davis does not accept payment for her milk and has donated it in the Bay Area and in Hawaii, where she was recently on vacation. In an interview, Davis said she was driven by a desire to give back. When her infant, Jude, was in the neo-natal intensive care unit at the University of California San Francisco, she was given a “high suction” hospital grade pump to stimulate her supply. She put her energies into that, and her milk came in strongly and quickly. So she thought about donating it to the bank there, but felt overwhelmed by all the logistical hurdles when her son was still in recovery. The American Academy of Pediatrics has made human milk a standard of care for premature babies. But in many cases, the lack of supply has means that the milk is reserved for only the most premature infants. It struck Davis while in the hospital that if she had struggled to produce milk, Jude might not be at the top of the list, as he wasn’t born early.

No controls

Most of the groups that have popped up on Facebook specialize in donated milk from mothers like Davis. But some offer to sell their oversupply for upwards of $3 an ounce. And outside of Facebook, so-called “underground” websites have proliferated that take advantage of the growing demand for breast milk, with some selling it for up to $16 per ounce. That would represent hundreds of dollars a month in out-of-pocket expenses for a family, meaning only wealthy parents could afford it. Davis says she is committed to her own health and well-being, and has stuck to the guidelines about things like alcohol consumption while breastfeeding. She’s also careful about how she stores her milk to prevent contamination. But some medical experts fear that not everyone is as vigilant. Susan Crowe, an obstetrician who sits on the board of a breast milk bank in San Jose, Calif., noted when researchers in 2015 studied samples of breast milk purchased online, they uncovered that about 10 percent had been tainted with cow’s milk. The researchers speculated that it was a way for the sellers to make more money. Crowe said there haven’t been many studies like donated versus sold milk. It’s possible, she noted, that risks are lower for donated milk because the motives are different. But she also explained that at donor banks, breast milk has been pasteurized and tested for infectious diseases, and there are numerous other guardrails in place to ensure it is safe for the infant. With donor milk acquired on Facebook, there are no such guarantees. In fact, the American Academy of Pediatrics and U.S. Food and Drug administration recommend against internet-based milk-sharing sites, according to the Center for Disease Control, and guide mothers to donation-based human milk banks instead. Meanwhile, some investors are beginning to see an opportunity in the space. Vanessa Larco, a venture capitalist at New Enterprise Associates, experienced her own struggles with breastfeeding after her own son was born. She’s developed an interest in infant nutrition as a result, and has been thinking deeply about opportunities to bridge the gap by making it easier for women to access safe and high-quality donor breast milk when supplies are running low. “I’m deeply passionate about this and have been thinking deeply about the right way to do it,” she said.

‘Breast is best’


Company: cnbc, Activity: cnbc, Date: 2019-07-07  Authors: christina farr
Keywords: news, cnbc, companies, facebook, human, davis, mixed, breast, babies, son, mothers, milk, groups, donated, selling, using, san, views, experts, nursing, donor


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‘Ticks all the right boxes’: Experts give their verdict on India’s new budget

Nirmala Sitharaman, India’s finance minister, center, Anurag Thakur, India’s finance and corporate affairs minister, second left, other members of the finance ministry exit the North Block of the Central Secretariat building in New Delhi, India, on Friday, July 5, 2019. India’s government plans to narrow its budget deficit target and proposed a number of measures to spur foreign investment, including selling its first global bond, to revive economic growth. The budget, presented by India’s newly


Nirmala Sitharaman, India’s finance minister, center, Anurag Thakur, India’s finance and corporate affairs minister, second left, other members of the finance ministry exit the North Block of the Central Secretariat building in New Delhi, India, on Friday, July 5, 2019. India’s government plans to narrow its budget deficit target and proposed a number of measures to spur foreign investment, including selling its first global bond, to revive economic growth. The budget, presented by India’s newly
‘Ticks all the right boxes’: Experts give their verdict on India’s new budget Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-05  Authors: spriha srivastava
Keywords: news, cnbc, companies, boxes, sector, finance, sitharaman, experts, quickly, minister, reforms, ticks, trillion, right, budget, indias, verdict, spending


'Ticks all the right boxes': Experts give their verdict on India's new budget

Nirmala Sitharaman, India’s finance minister, center, Anurag Thakur, India’s finance and corporate affairs minister, second left, other members of the finance ministry exit the North Block of the Central Secretariat building in New Delhi, India, on Friday, July 5, 2019. India’s government plans to narrow its budget deficit target and proposed a number of measures to spur foreign investment, including selling its first global bond, to revive economic growth. Photographer: T. Narayan/Bloomberg via Getty Images

India’s latest budget proposals have received a mixed response from market watchers, with one noting that the government could find achieving its fiscal plans “challenging.”

The budget, presented by India’s newly-appointed Finance Minister Nirmala Sitharaman, eases foreign investment restrictions and states that the country is set to become a $3 trillion economy in the current financial year — becoming a $5 trillion economy in the next few years. With a heavy focus on infrastructure, it aims to upgrade nearly 78,000 miles of roads over the next five years at a cost of $11.6 billion.

The “budget makes all the right noises in terms of reforms and infra spending, but it’s about how this is delivered and how quickly,” Marc Ostwald, a strategist at ADM Investor Services, told CNBC via email Friday.

Ostwald explained that the banking sector reforms needed to be implemented quickly, adding that India’s “monetary transmission mechanism is still misfiring, and needs to work much better if government spending is to filter down into more private sector investment.”

This budget is due to run until March 31, 2020. Earlier in February, before India headed to the polls, Prime Minister Narendra Modi’s government presented an interim budget that channeled money to farmers in order to bolster rural job creation.


Company: cnbc, Activity: cnbc, Date: 2019-07-05  Authors: spriha srivastava
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China appears to be the winner of the Trump-Xi meeting at G-20, experts say

In addition, Trump said he agreed to allow Huawei to purchase U.S. products and China will buy “large amounts” of American farm produce. Washington had earlier announced a ban that restricts Huawei’s ability to do business with U.S. firms due to national security concerns. Trump’s apparently softer stance on the Chinese tech giant was seen by some observers as a major concession that the U.S. has granted China. “It is looking like, so far, China is coming out as a winner from this G-20,” Frances


In addition, Trump said he agreed to allow Huawei to purchase U.S. products and China will buy “large amounts” of American farm produce. Washington had earlier announced a ban that restricts Huawei’s ability to do business with U.S. firms due to national security concerns. Trump’s apparently softer stance on the Chinese tech giant was seen by some observers as a major concession that the U.S. has granted China. “It is looking like, so far, China is coming out as a winner from this G-20,” Frances
China appears to be the winner of the Trump-Xi meeting at G-20, experts say Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-03  Authors: yen nee lee
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China appears to be the winner of the Trump-Xi meeting at G-20, experts say

U.S. President Donald Trump has touted his meeting with Chinese President Xi Jinping at the weekend as “far better than expected” — but several trade and investment experts said Beijing appears to have gained the upper hand in the trade war.

Trump and Xi agreed at the G-20 summit in Japan to withhold from slapping additional tariffs on each other’s products as the two sides return to the negotiating table in a bid to finalize a trade agreement. In addition, Trump said he agreed to allow Huawei to purchase U.S. products and China will buy “large amounts” of American farm produce.

Washington had earlier announced a ban that restricts Huawei’s ability to do business with U.S. firms due to national security concerns. Trump’s apparently softer stance on the Chinese tech giant was seen by some observers as a major concession that the U.S. has granted China.

“It is looking like, so far, China is coming out as a winner from this G-20,” Francesco Filia, chief executive and chief investment officer at asset management firm Fasanara Capital, told CNBC’s “Squawk Box Europe” on Monday.

“It’s not even clear what they gave up in order to get it,” he said, noting there was a lack of details about what the two leaders agreed on at the meeting.

Filia is not the only one who has expressed skepticism over the U.S.-China trade developments.

Trump standing down on some of his threats to China was “one of the most concerning outcomes at the G-20,” said Danielle DiMartino Booth, chief executive of research firm Quill Intelligence.

“It looks as if he obviously gave a lot of ground back to China,” she told CNBC’s “Squawk Box Asia” on Wednesday.


Company: cnbc, Activity: cnbc, Date: 2019-07-03  Authors: yen nee lee
Keywords: news, cnbc, companies, say, xi, experts, chief, trump, meeting, trumpxi, agreed, products, g20, winner, told, trade, appears, china, squawk


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Bitcoin prices plunge after surging — Here’s what five experts say about the digital currency

Bitcoin prices plunge after surging — Here’s what five experts say about the digital currency4 Hours AgoBart Smith of Susquehanna Capital, Jeremy Allaire of Circle, Ben Mezrich, author of the new book “Bitcoin Billionaires,” Michael Novogratz of Galaxy Digital and Brian Kelly of BKCM give their take on bitcoin’s recent gains and losses.


Bitcoin prices plunge after surging — Here’s what five experts say about the digital currency4 Hours AgoBart Smith of Susquehanna Capital, Jeremy Allaire of Circle, Ben Mezrich, author of the new book “Bitcoin Billionaires,” Michael Novogratz of Galaxy Digital and Brian Kelly of BKCM give their take on bitcoin’s recent gains and losses.
Bitcoin prices plunge after surging — Here’s what five experts say about the digital currency Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-27
Keywords: news, cnbc, companies, heres, experts, recent, smith, say, digital, bitcoin, novogratz, susquehanna, plunge, prices, currency, surging


Bitcoin prices plunge after surging — Here's what five experts say about the digital currency

Bitcoin prices plunge after surging — Here’s what five experts say about the digital currency

4 Hours Ago

Bart Smith of Susquehanna Capital, Jeremy Allaire of Circle, Ben Mezrich, author of the new book “Bitcoin Billionaires,” Michael Novogratz of Galaxy Digital and Brian Kelly of BKCM give their take on bitcoin’s recent gains and losses.


Company: cnbc, Activity: cnbc, Date: 2019-06-27
Keywords: news, cnbc, companies, heres, experts, recent, smith, say, digital, bitcoin, novogratz, susquehanna, plunge, prices, currency, surging


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Stocks sell off as fears around Fed and growth rise—Here’s what experts are watching

Market confidence could be starting to crack. Now, with the U.S.-China trade dispute still unresolved, rising global tensions and the latest comments from the Fed, experts remain cautiously bullish but not without concerns. If you start putting those tariffs on, all companies are going to have to worry about cost of goods sold. So, I think, within the consumer, I think they’re still OK. I think they’re OK because jobs and wages are OK.


Market confidence could be starting to crack. Now, with the U.S.-China trade dispute still unresolved, rising global tensions and the latest comments from the Fed, experts remain cautiously bullish but not without concerns. If you start putting those tariffs on, all companies are going to have to worry about cost of goods sold. So, I think, within the consumer, I think they’re still OK. I think they’re OK because jobs and wages are OK.
Stocks sell off as fears around Fed and growth rise—Here’s what experts are watching Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-25  Authors: lizzy gurdus
Keywords: news, cnbc, companies, experts, think, dont, confidence, tariffs, riseheres, watching, consumer, fed, director, growth, sell, market, fears, ok, trade, stocks, going


Stocks sell off as fears around Fed and growth rise—Here's what experts are watching

Market confidence could be starting to crack.

The Conference Board, a nonprofit think tank that conducts industry research, said on Tuesday that its widely followed consumer confidence index fell to 121.5 in June, its lowest level since September 2017.

This comes as Federal Reserve Chairman Jerome Powell stressed the central bank’s independence in the face of intense criticism from President Donald Trump around the Fed’s interest rate policy, injecting more uncertainty into a market landscape where many expect imminent rate cuts.

Now, with the U.S.-China trade dispute still unresolved, rising global tensions and the latest comments from the Fed, experts remain cautiously bullish but not without concerns.

Here’s what seven of them are watching now:

Ian Winer, an advisory board member at Drexel Hamilton, said the latest action in the market speaks to how central banks including the Fed will position themselves in the coming months:

“I think it’s just more of an example of this leveraged trade we’re seeing where people are buying stocks and buying bonds as well. It just tells me that you’re continuing to march towards negative rates, even here in the U.S., over the next 18 months, and it’s just further indication that the central banks are going to do whatever they have to do to try to keep the markets here.”

Chad Morganlander, senior portfolio manager at Washington Crossing Advisors, said investors are making a calculus here:

“The global economy’s going to continue to be very sluggish and slow. Inflation expectations are going to continue to be lowered. But overall, what market optimists are looking at is the earnings yield in relationship to this low interest rate environment and saying to themselves, ‘I can get a better return within the stock market.’ So, at this point within the cycle, although we are cautious when it comes to the yield curve, we’re still modestly overweight equity risk, in particular within the United States.”

Art Cashin, managing director of UBS Financial Services and UBS’ director of floor operations at the New York Stock Exchange, was wary of the recent rally:

“You’ve got the Iranian situation still, people crossing their fingers that neither side goes to military action and that we still wind up with sanctions and things of that type. But the market is, as I say, consolidating. We’re at new highs, but this is also right around where we paused back in early May and when things started to turn and head the other way.”

Cerity Partners’ Jim Lebenthal said tariff negotiations were making him “nervous”:

“I’m nervous here, even though I’m invested. So, look, it is an important moment. What are we looking for? What do you want? … The specific thing that I’m looking for is a pushback on the tariffs. Push ’em out two to three months, OK? There’s no way in heck that we’re getting a deal in the next week. Forget that. That’s not going to happen. You’re probably going to get some nice words, maybe a nice tweet, but you’re not going to get any substance other than what I hope … is push the tariffs off, because I’ve got to say those are making me nervous. If you start putting those tariffs on, all companies are going to have to worry about cost of goods sold. They don’t know where to expand their supply chain. It’s going to hit corporate confidence if we don’t get a pushback on those tariffs. And remember we used to talk about a second-half earnings recovery? Remember we all used to talk about that, like, two months ago? Nobody’s talking about that now. We’re talking about ratcheting down earnings expectations. We need to turn that around. It won’t happen if you don’t push back tariffs.”

UBS Private Wealth Managing Director Rob Sechan pointed to some concerning data points:

“This has been an untrusted rally. So, the backdrop is this, and I’ll give you some statistics: the Citi Panic/Euphoria Model is in panic territory, and you look at the skew of the AAII Bull/Bear, again, indicating cautiousness. Bank of America Merrill Lynch has this reading, this bearish sentiment reading, among [portfolio managers]. Listen to this: 42% of fund managers were overweight cash, the 98th percentile since 2001, and our own [strategist] Keith Parker says that equity positioning is 1.5 standard deviations below average. If you look at that, even in this rally, investors are offsides.”

Joe Terranova, senior managing director at Virtus Investment Partners, said trade was driving the conversation:

“I believe that the consumer remains strong. I believe that the consumer is beginning to trend slightly lower given the circumstances that we are seeing as it relates to trade, the concerns there. I think housing is a struggle. Do I think housing enters a recessionary environment for housing itself? I don’t see that. You heard comments from Lennar executives talking specifically about that, and I think that’s incredibly important because you have the production deficit as they have cited. So, yes, you are pulling back, the consumer statistics are pulling back, and they are pulling back because of the rhetoric and concerns surrounding trade. ”

Stephanie Link, Nuveen’s head of global equities research, said stocks could be approaching a tipping point:

“I think that you’ve definitely seen a softening, but I do think that there are winners and losers. Because we’ve talked about that. I mean, there are the Nikes of the world, but then there’s the Foot Lockers of the world who are struggling, or the Kohl’s or Macy’s or some of the department stores. So, I think, within the consumer, I think they’re still OK. I really do think it’s OK. I think they’re OK because jobs and wages are OK. They’re still very good. But I worry, and I have worried, that the market is such a big component for the consumer. And if that rolls over, then all of a sudden you see the confidence roll over. ”

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Company: cnbc, Activity: cnbc, Date: 2019-06-25  Authors: lizzy gurdus
Keywords: news, cnbc, companies, experts, think, dont, confidence, tariffs, riseheres, watching, consumer, fed, director, growth, sell, market, fears, ok, trade, stocks, going


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Fed holds steady on interest rates—here’s what experts are watching

The rates market is pricing this in, so this is all in sync, so it’s a good statement for the market. ” So, I think they’re keeping their options open, and I think that is appropriate. Maybe after the fact they might, but I don’t think they want to do that ex ante. That’s something to focus on, and, again I think that’s the way that they’re going to justify a cut. I think that’s bond positive, I think that’s equity positive, and we’ll see how this plays out.


The rates market is pricing this in, so this is all in sync, so it’s a good statement for the market. ” So, I think they’re keeping their options open, and I think that is appropriate. Maybe after the fact they might, but I don’t think they want to do that ex ante. That’s something to focus on, and, again I think that’s the way that they’re going to justify a cut. I think that’s bond positive, I think that’s equity positive, and we’ll see how this plays out.
Fed holds steady on interest rates—here’s what experts are watching Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-19  Authors: araceli crescencio
Keywords: news, cnbc, companies, watching, policy, going, rates, ratesheres, holds, theyre, experts, interest, steady, fed, thats, market, dont, cut, think


Fed holds steady on interest rates—here's what experts are watching

No Fed rate cuts for now.

The Federal Reserve decided to keep interest rates steady on Wednesday but opened the door for potential rate cuts later this year if economic activity weakens. The committee said it continues to see “sustained” economic expansion but that “uncertainties about [its] outlook have increased.”

With Wall Street traders pricing in a 100% chance of at least one July rate cut, experts were largely split on the move.

Here are three of their takes on what comes next for the market:

Alicia Levine, chief strategist at BNY Mellon, said the decision to leave interest rates unchanged is a good sign for the market:

“So I’d say that July is on the table here, and I think that it’s very reasonable to think there’s two cuts this year with this change in the dot plot. It’s very clear that the Fed is really looking to ensure that the expansion continues and it’s positive for the market. This is what the market needed to see. The rates market is pricing this in, so this is all in sync, so it’s a good statement for the market. ”

J.P. Morgan Funds Chief Strategist David Kelly said this may seem like a good decision for now but there could still be danger ahead:

“I think the stock market may like this in the short run, but I think we’re in some dangerous territory here. I mean, first of all, two wrongs don’t make a right, and it’s inappropriate to have an overly easy monetary policy to enable an overly aggressive trade policy. … I think the problem is the Fed is taking the position that monetary policy should be independent, and therefore they will not tell the administration what to do if the administration would please stop telling them what to do. Now, … one side is keeping that agreement, but the danger here is, … if they cut in July, everybody’s going to expect them to cut again. Eighty-one percent of the time, when the Fed cuts, they cut again within the next six months. So, people will just build in a series of rate cuts, and as rates fall, people will expect, ‘Well, why don’t I wait a while here [and] see if I can borrow at cheaper rates?’ It doesn’t stimulate the economy. So, there’s a danger that they will actually make things worse by cutting rates in this environment.”

John Bellows, portfolio manager and research analyst at Western Asset, said Wednesday’s Fed decision prepared the groundwork for future policy:

“I actually think that it was notable they didn’t commit to [a] July [cut]. There’s nothing in here about a next meeting. There’s nothing in here about the G-20. Of course, they’re going to leave that out. So, I think they’re keeping their options open, and I think that is appropriate. They don’t want to be seen as doing anything that’s going to interact with trade policy at the ex ante. Maybe after the fact they might, but I don’t think they want to do that ex ante. The other thing I would focus on here is I do think we are seeing that movement towards concern about inflation. You know, they’ve been talking, up to now, about market expectations being low, but now they’re saying … outright they have declined. That’s a change. That’s something to focus on, and, again I think that’s the way that they’re going to justify a cut. They’re never going to say that ‘We’re cutting because trade policy got too aggressive.’ … But they will say, and I do think this is likely, they will say, ‘Inflation’s too low, we need to get it higher, and therefore we’re going to use policy.’ So, what you’re seeing today is … the careful laying of the groundwork. They don’t want to get caught up in the trade dispute. They don’t want to get caught up in this meeting or that meeting. But they are carefully laying the groundwork for easing policy … later this year. I think that’s bond positive, I think that’s equity positive, and we’ll see how this plays out. But I think that’s what they’re doing here, is they’re laying that groundwork.”

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Company: cnbc, Activity: cnbc, Date: 2019-06-19  Authors: araceli crescencio
Keywords: news, cnbc, companies, watching, policy, going, rates, ratesheres, holds, theyre, experts, interest, steady, fed, thats, market, dont, cut, think


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