European markets slip amid fears of global growth slowdown; UK retailer Asos down 36%

In terms of stocks, retail was down the most, by more than 1 percent. UK retail stocks are making heavy losses on Monday, with Asos down 34 percent, Next down 8 percent, Marks & Spencer down 4.6 percent Boohoo shares down 19.4 percent. On Monday, Asos cut its annual sales growth and profit margin forecasts, becoming the latest British retailer to highlight very poor November trading. On Friday, China reported weaker-than-expected retail sales data, growing at its weakest pace since November 2003


In terms of stocks, retail was down the most, by more than 1 percent. UK retail stocks are making heavy losses on Monday, with Asos down 34 percent, Next down 8 percent, Marks & Spencer down 4.6 percent Boohoo shares down 19.4 percent. On Monday, Asos cut its annual sales growth and profit margin forecasts, becoming the latest British retailer to highlight very poor November trading. On Friday, China reported weaker-than-expected retail sales data, growing at its weakest pace since November 2003
European markets slip amid fears of global growth slowdown; UK retailer Asos down 36% Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-17  Authors: spriha srivastava
Keywords: news, cnbc, companies, concerns, global, slowdown, week, sales, uk, fears, near, margin, slip, growth, stocks, european, asos, retail, markets, retailer, turmoil


European markets slip amid fears of global growth slowdown; UK retailer Asos down 36%

In terms of stocks, retail was down the most, by more than 1 percent. UK retail stocks are making heavy losses on Monday, with Asos down 34 percent, Next down 8 percent, Marks & Spencer down 4.6 percent Boohoo shares down 19.4 percent.

On Monday, Asos cut its annual sales growth and profit margin forecasts, becoming the latest British retailer to highlight very poor November trading. ASOS lowered its sales growth forecast for the 2018-19 year to 15 percent from 20-25 percent previously and cut its earnings before interest and tax (EBIT) margin target for the year to around 2 percent from 4 percent.

Meanwhile, basic resources found itself at the top of the best performing stocks, up 0.8 percent.

Market focus is largely attuned to concerns surrounding cooling global growth after soft economic data from China and Europe in the last week added further concerns. On Friday, China reported weaker-than-expected retail sales data, growing at its weakest pace since November 2003.

Stocks in Asia mostly traded higher trade on Monday following a report suggesting further turmoil for the markets in 2019.

The Bank of International Settlements (BIS), an umbrella group for the world’s central banks, said on Sunday that recent market tensions are a sign of more turmoil to come. It warned that a normalization of monetary policy is likely to trigger a flurry of sharp sell-offs in the near future.

Meanwhile, sterling hovered near its 20-month low touched last week, concerns that Britain was headed for a chaotic exit from the European Union increased.

Britain has just over 100 days to leave the bloc on March 29 and chances of a no-deal or a chaotic Brexit deal have gone up after strong oppositions to Prime Minister Theresa May’s draft deal.


Company: cnbc, Activity: cnbc, Date: 2018-12-17  Authors: spriha srivastava
Keywords: news, cnbc, companies, concerns, global, slowdown, week, sales, uk, fears, near, margin, slip, growth, stocks, european, asos, retail, markets, retailer, turmoil


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

The S&P 500 and Dow are back in a correction. Here’s what experts are watching for next week

Markets slump on fears of a global slowdown — Four experts on what to watch next 14 Hours Ago | 03:17Another sharp sell-off has investors reeling on Friday, as the Dow and S&P 500 both dove back into correction territory. The downturn has put more than half of S&P 500 stocks in a bear market, which means they are down more than 20 percent off their recent respective highs, and has put the index on track for its worst quarter since 2011. Slowing economic growth, trade war fears and a Fed meeting


Markets slump on fears of a global slowdown — Four experts on what to watch next 14 Hours Ago | 03:17Another sharp sell-off has investors reeling on Friday, as the Dow and S&P 500 both dove back into correction territory. The downturn has put more than half of S&P 500 stocks in a bear market, which means they are down more than 20 percent off their recent respective highs, and has put the index on track for its worst quarter since 2011. Slowing economic growth, trade war fears and a Fed meeting
The S&P 500 and Dow are back in a correction. Here’s what experts are watching for next week Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-14  Authors: tyler bailey, michael nagle, bloomberg, getty images, picture alliance, kcna, thomas barwick getty images, source, lawrence mcdonald
Keywords: news, cnbc, companies, sp, weekheres, week, war, investors, trade, worst, correction, 500, experts, watch, watching, heres, fears, dow


The S&P 500 and Dow are back in a correction. Here's what experts are watching for next week

Markets slump on fears of a global slowdown — Four experts on what to watch next 14 Hours Ago | 03:17

Another sharp sell-off has investors reeling on Friday, as the Dow and S&P 500 both dove back into correction territory. The downturn has put more than half of S&P 500 stocks in a bear market, which means they are down more than 20 percent off their recent respective highs, and has put the index on track for its worst quarter since 2011.

Slowing economic growth, trade war fears and a Fed meeting will be at the top of investors’ minds next week.

Here’s what four experts are saying:


Company: cnbc, Activity: cnbc, Date: 2018-12-14  Authors: tyler bailey, michael nagle, bloomberg, getty images, picture alliance, kcna, thomas barwick getty images, source, lawrence mcdonald
Keywords: news, cnbc, companies, sp, weekheres, week, war, investors, trade, worst, correction, 500, experts, watch, watching, heres, fears, dow


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Recession fears are overblown, stocks will hit new highs: Federated

Wall Street angst over a possible recession may be increasing, but one bull refuses to waver. Federated Investors’ Steve Chiavarone believes there’s nothing on the horizon that suggests the 2018 market corrections will become a massive downturn next year. Rather, he sees stocks hitting fresh record highs — citing labor market trends, inflation levels, the Treasury yield curve and credit spreads as key factors contributing to a favorable economic and market environment. “We don’t have any of the


Wall Street angst over a possible recession may be increasing, but one bull refuses to waver. Federated Investors’ Steve Chiavarone believes there’s nothing on the horizon that suggests the 2018 market corrections will become a massive downturn next year. Rather, he sees stocks hitting fresh record highs — citing labor market trends, inflation levels, the Treasury yield curve and credit spreads as key factors contributing to a favorable economic and market environment. “We don’t have any of the
Recession fears are overblown, stocks will hit new highs: Federated Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-14  Authors: stephanie landsman, spencer platt, getty images, michael nagle, bloomberg, picture alliance, kcna, thomas barwick getty images, source, lawrence mcdonald
Keywords: news, cnbc, companies, 20, yield, 2018, fears, street, market, 500, recession, hit, growth, highs, overblown, yearthe, stocks, federated, dont


Recession fears are overblown, stocks will hit new highs: Federated

Wall Street angst over a possible recession may be increasing, but one bull refuses to waver.

Federated Investors’ Steve Chiavarone believes there’s nothing on the horizon that suggests the 2018 market corrections will become a massive downturn next year.

Rather, he sees stocks hitting fresh record highs — citing labor market trends, inflation levels, the Treasury yield curve and credit spreads as key factors contributing to a favorable economic and market environment.

“We don’t have any of the early signs of recession. Yet, we have a market where despite 20 percent earnings growth, the P/Es [price-earnings ratios] have fallen 20 percent,” the fund manager said on CNBC’s “Trading Nation” on Friday. “What that tells us is the market is pricing in recession in 2019. We just don’t think that is going to happen.”

Yet, it appears the Street isn’t convinced.

The major indexes ended the week deep in the red, with the Dow plummeting almost 500 points on Friday mainly due to global growth jitters. It’s now off 2.5 percent so far this year.

The S&P 500, which closed at its lowest level since April, is off more than 12 percent from its all-time high of 2940 hit on September 21 and 2.75 percent for 2018.


Company: cnbc, Activity: cnbc, Date: 2018-12-14  Authors: stephanie landsman, spencer platt, getty images, michael nagle, bloomberg, picture alliance, kcna, thomas barwick getty images, source, lawrence mcdonald
Keywords: news, cnbc, companies, 20, yield, 2018, fears, street, market, 500, recession, hit, growth, highs, overblown, yearthe, stocks, federated, dont


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

US Treasury yields move higher amid fears of an economic slowdown

ET, the yield on the benchmark 10-year Treasury note, which moves inversely to price, was higher at around 2.8611 percent, while the yield on the 30-year Treasury bond was also higher at 3.1450 percent. Investors are increasingly concerned about a possible economic slowdown, shortly after the U.S., China and Japan all reported weaker-than-expected economic data. Meanwhile, the U.S. Treasury is set to auction $39 billion in 13-week bills and $36 billion in 26-week bills on Monday. In energy marke


ET, the yield on the benchmark 10-year Treasury note, which moves inversely to price, was higher at around 2.8611 percent, while the yield on the 30-year Treasury bond was also higher at 3.1450 percent. Investors are increasingly concerned about a possible economic slowdown, shortly after the U.S., China and Japan all reported weaker-than-expected economic data. Meanwhile, the U.S. Treasury is set to auction $39 billion in 13-week bills and $36 billion in 26-week bills on Monday. In energy marke
US Treasury yields move higher amid fears of an economic slowdown Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: sam meredith
Keywords: news, cnbc, companies, lower, yields, economic, fears, higher, bills, price, data, slowdown, crude, yield, amid, treasury, billion


US Treasury yields move higher amid fears of an economic slowdown

At around 5 a.m. ET, the yield on the benchmark 10-year Treasury note, which moves inversely to price, was higher at around 2.8611 percent, while the yield on the 30-year Treasury bond was also higher at 3.1450 percent.

Investors are increasingly concerned about a possible economic slowdown, shortly after the U.S., China and Japan all reported weaker-than-expected economic data. It comes after Wall Street’s main indexes closed more than 2 percent lower on Friday, registering their largest weekly percentage declines since March.

On the data front, investors are likely to closely monitor the release of October’s Job Openings and Labor Turnover Survey (JOLTS) at around 10 a.m. ET.

Meanwhile, the U.S. Treasury is set to auction $39 billion in 13-week bills and $36 billion in 26-week bills on Monday.

In energy markets, crude prices were mixed after OPEC and allied non-OPEC oil producers agreed to implement a supply cut from January. Despite the news, the price outlook for 2019 remains uncertain on the back of an economic slowdown.

International benchmark Brent crude traded at around $61.66 on Monday, up around 0.05 percent, while U.S. West Texas Intermediate (WTI) stood at around $52.40, more than 0.4 percent lower.


Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: sam meredith
Keywords: news, cnbc, companies, lower, yields, economic, fears, higher, bills, price, data, slowdown, crude, yield, amid, treasury, billion


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

European stocks fall amid rising trade war fears; Hargreaves Lansdown slips 4%

Europe’s construction and material stocks were among the worst performers, down more than 2 percent amid growing trade war concerns. France’s Saint-Gobain led the sectoral losses after J.P. Morgan cut its stock recommendation to “neutral” from “overweight.” Looking at individual stocks, Britain’s Hargreaves Lansdown slumped to the bottom of the European benchmark after Morgan Stanley cut its stock recommendation to “underweight” from “equal-weight.” Meanwhile, U.K.-listed drugmaker Shire was amo


Europe’s construction and material stocks were among the worst performers, down more than 2 percent amid growing trade war concerns. France’s Saint-Gobain led the sectoral losses after J.P. Morgan cut its stock recommendation to “neutral” from “overweight.” Looking at individual stocks, Britain’s Hargreaves Lansdown slumped to the bottom of the European benchmark after Morgan Stanley cut its stock recommendation to “underweight” from “equal-weight.” Meanwhile, U.K.-listed drugmaker Shire was amo
European stocks fall amid rising trade war fears; Hargreaves Lansdown slips 4% Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-05  Authors: sam meredith
Keywords: news, cnbc, companies, britains, morgan, cut, performers, stock, trade, fears, shire, european, slips, shares, stocks, rising, morning, recommendation, lansdown, hargreaves, war, fall


European stocks fall amid rising trade war fears; Hargreaves Lansdown slips 4%

Europe’s construction and material stocks were among the worst performers, down more than 2 percent amid growing trade war concerns. France’s Saint-Gobain led the sectoral losses after J.P. Morgan cut its stock recommendation to “neutral” from “overweight.” Shares of the Paris-listed stock dipped almost 3 percent on the news.

Looking at individual stocks, Britain’s Hargreaves Lansdown slumped to the bottom of the European benchmark after Morgan Stanley cut its stock recommendation to “underweight” from “equal-weight.” Shares of the London-listed firm fell 4 percent Wednesday morning.

Meanwhile, U.K.-listed drugmaker Shire was among the top performers on Britain’s FTSE 100 index during early morning deals. Japan’s Takeda Pharmaceutical secured shareholder approval to complete a £46 billion ($59 billion) takeover of the company Wednesday morning, prompting shares of Shire to jump 2.5 percent.


Company: cnbc, Activity: cnbc, Date: 2018-12-05  Authors: sam meredith
Keywords: news, cnbc, companies, britains, morgan, cut, performers, stock, trade, fears, shire, european, slips, shares, stocks, rising, morning, recommendation, lansdown, hargreaves, war, fall


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Dow plunges nearly 800 points on rising fears of an economic slowdown

Stocks fell sharply on Tuesday in the biggest decline since the October rout as investors worried about a bond-market phenomenon signaling a possible economic slowdown. The Dow Jones Industrial Average fell 799.36 points, or 3.1 percent, to close at 25,027.07 and posted its worst day since Oct. 10. Financials were the worst performers in the S&P 500 plunging 4.4 percent. Utilities was the only positive sector in the S&P 500, rising 0.16 percent. The Russell 2000, which tracks small-cap stocks, d


Stocks fell sharply on Tuesday in the biggest decline since the October rout as investors worried about a bond-market phenomenon signaling a possible economic slowdown. The Dow Jones Industrial Average fell 799.36 points, or 3.1 percent, to close at 25,027.07 and posted its worst day since Oct. 10. Financials were the worst performers in the S&P 500 plunging 4.4 percent. Utilities was the only positive sector in the S&P 500, rising 0.16 percent. The Russell 2000, which tracks small-cap stocks, d
Dow plunges nearly 800 points on rising fears of an economic slowdown Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-04  Authors: fred imbert, brendan mcdermid, getty images, loic venance, afp, monica almeida, kcna, thomas barwick getty images, source, lawrence mcdonald
Keywords: news, cnbc, companies, 500, points, day, wall, 800, slowdown, economic, close, rising, worst, sp, stocks, nearly, fell, inversion, fears, dow, yield, plunges


Dow plunges nearly 800 points on rising fears of an economic slowdown

Stocks fell sharply on Tuesday in the biggest decline since the October rout as investors worried about a bond-market phenomenon signaling a possible economic slowdown. Lingering worries around U.S.-China trade also added to jitters down Wall Street.

The Dow Jones Industrial Average fell 799.36 points, or 3.1 percent, to close at 25,027.07 and posted its worst day since Oct. 10. At its low of the day, the Dow had fallen more than 800 points.

The S&P 500 declined 3.2 percent to close at 2,700.06. The benchmark fell below its 200-day moving average, which triggered more selling from algorithmic funds. Financials were the worst performers in the S&P 500 plunging 4.4 percent. Utilities was the only positive sector in the S&P 500, rising 0.16 percent.

The Nasdaq Composite dropped 3.8 percent to close back in correction territory at 7,158.43. The Russell 2000, which tracks small-cap stocks, dropped 4.4 percent to 1,480.75, marking its worst day since 2011. Trading volume in U.S. stocks was also higher than usual on Wall Street.

The yield on the three-year Treasury note surpassed its five-year counterpart on Monday. When a so-called yield curve inversion happens — short-term yields trading above longer-term rates — a recession could follow, though it is often years away after the signal triggers. Still, many traders believe the inversion won’t be official until the 2-year yield rises above the 10 year yield, which has not happened yet.

Stocks began falling to their lows of the day after Jeffrey Gundlach, CEO of Doubleline Capital, told Reuters this inversion signals that the economy “is poised to weaken.”


Company: cnbc, Activity: cnbc, Date: 2018-12-04  Authors: fred imbert, brendan mcdermid, getty images, loic venance, afp, monica almeida, kcna, thomas barwick getty images, source, lawrence mcdonald
Keywords: news, cnbc, companies, 500, points, day, wall, 800, slowdown, economic, close, rising, worst, sp, stocks, nearly, fell, inversion, fears, dow, yield, plunges


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Fed adds its voice to rising fears about retirement investor core bond holdings

In its Financial Stability Report, the Fed noted that the share of investment-grade debt classified at the low end of the range has “reached near-record levels” of $2.25 trillion, or about 35 percent of total corporate bonds. Many fixed-income investors have been focused in recent years on duration risk: As the Fed began to raise rates and send bond prices down, investors fled from longer-dated bonds. But the Fed noted that the credit quality of nonfinancial high-yield corporate bonds has been r


In its Financial Stability Report, the Fed noted that the share of investment-grade debt classified at the low end of the range has “reached near-record levels” of $2.25 trillion, or about 35 percent of total corporate bonds. Many fixed-income investors have been focused in recent years on duration risk: As the Fed began to raise rates and send bond prices down, investors fled from longer-dated bonds. But the Fed noted that the credit quality of nonfinancial high-yield corporate bonds has been r
Fed adds its voice to rising fears about retirement investor core bond holdings Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-30  Authors: eric rosenbaum, adam jeffery, akio kon, bloomberg, getty images, saeed khan afp, source, brendan mcdermid, saul loeb, afp
Keywords: news, cnbc, companies, bonds, ratings, corporate, investmentgrade, investor, fed, voice, fears, core, bond, retirement, adds, debt, investors, rising, downgrades, risk, holdings, credit


Fed adds its voice to rising fears about retirement investor core bond holdings

In its Financial Stability Report, the Fed noted that the share of investment-grade debt classified at the low end of the range has “reached near-record levels” of $2.25 trillion, or about 35 percent of total corporate bonds. The Fed’s analysis of balance sheets at companies with debt in this rating tier indicated that over the past year, it has been firms with high leverage, high-interest expense ratios, and low earnings and cash holdings that have been increasing their debt loads the most. The report also warned of a potentially “large plunge in asset prices” and indicated that financial distress could “‘trigger a broad adjustment in prices of business debt,” with investors taking “higher-than-expected losses.”

In the minutes from its Federal Open Market Committee, the central bank said several of the FOMC members were concerned about “the high level of debt in the nonfinancial business sector.”

Many fixed-income investors have been focused in recent years on duration risk: As the Fed began to raise rates and send bond prices down, investors fled from longer-dated bonds. Credit-quality concerns, meanwhile, were centered on areas of the bond market known to be more risky, such as high-yield and emerging markets. But the Fed noted that the credit quality of nonfinancial high-yield corporate bonds has been roughly stable over the past several years, as ratings among investment-grade corporate bonds has deteriorated.

“So even if a severe economic downturn does not appear to be on the horizon, investors need to be aware of credit risks associated with their investment-grade bond ETFs, in addition to duration risk,” said Neena Mishra, director of ETF research at Zacks Investment Research. She said that while the economy is growing at a healthy pace, as of now, and risks of a recession in the near term appear to be low, the surge in issuance of bonds rated BBB has become a serious concern. In the event of a downturn in the economy, we could see a wave of downgrades to junk status from the lowest investment grade.

The composition among ETFs “looks worse” for intermediate-term investment-grade bond ETFs, such as Vanguard’s VCIT and the $5.5 billion iShares Intermediate-Term Corporate Bond ETF (IGIB), which have about 54 percent of their portfolio invested in BBB/Baa rated bonds, making them most vulnerable in the event of even some of these bonds falling to high-yield status.

“These ETFs would have to dispose of those fallen angels, further exacerbating the price decline and leading to a lot of volatility,” Mishra said.

The Fed noted in its report that in an economic downturn, “widespread downgrades of these bonds to speculative-grade ratings could induce some investors to sell them rapidly, because, for example, they face restrictions on holding bonds with ratings below investment grade. Such sales could increase the liquidity and price pressures in this segment of the corporate bond market.”

But the central bank also stated, “With interest rates low by historical standards, debt service costs are at the lower ends of their historical ranges, particularly for risky firms, and corporate credit performance remains generally favorable.”

Lyons at CreditSights doesn’t see systematic risk to investment-grade bonds right now, though she remains concerned and stressed that the issues go beyond any single stock that has made headlines for deterioration in credit quality, such as GE or Pacific Gas & Electric. “The amount of debt is getting bigger and bigger, while the ability to trade is diminishing. We are getting more cautious,” she said.

A BlackRock spokeswoman said to the extent that there are downgrades from BBB to high yield, those bonds would be gradually removed from the fund, and the risk to investors is potential credit losses associated with BBB downgrades as they are sold from the fund overtime. But she noted that LQD holds over 1,900 bonds, 390 distinct issuers and a 3 percent issuer cap, so it is well diversified.

Vanguard could not provide a comment by press time.

Lyons said CreditSights is not presently of the belief that the cracks in the BBB bond class are widespread, but there will be specific sectors represented within it where more stress should be expected. “I’m not that worried about a massive wave of downgrades,” she said.

What could change that view, however, is if ratings agencies decide to react by changing the terms for investment-grade ratings. “They’ve given companies a lot more leeway,” she said, and widespread downgrades could occur if the ratings agencies decide to become more stringent. It has happened before, and recently, with the energy sector being downgraded in early 2016 by the rating agencies. Though Lyons added, “I’m not seeing anything breaking the fundamentals of corporates. They are slowing, but not to the point where I am worried about defaults. It comes back to the agencies and slowing growth and how they react to it.”


Company: cnbc, Activity: cnbc, Date: 2018-11-30  Authors: eric rosenbaum, adam jeffery, akio kon, bloomberg, getty images, saeed khan afp, source, brendan mcdermid, saul loeb, afp
Keywords: news, cnbc, companies, bonds, ratings, corporate, investmentgrade, investor, fed, voice, fears, core, bond, retirement, adds, debt, investors, rising, downgrades, risk, holdings, credit


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Apple estimates cut again amid fears of sluggish iPhone demand

Another Wall Street firm has cut expectations for Apple amid fears of soft smartphone and overall iPhone demand. Walkley slashed his iPhone units sales expectations to 213 million in 2018, 208 million in 2019 and 217 million in 2020. “Our surveys indicated soft smartphone demand with disappointing initial XR sales,” Walkley wrote in a note to clients Thursday. “Given the soft start to the latest lineup of iPhones, we are lowering our iPhone estimates and forecast lower year-over-year unit sales


Another Wall Street firm has cut expectations for Apple amid fears of soft smartphone and overall iPhone demand. Walkley slashed his iPhone units sales expectations to 213 million in 2018, 208 million in 2019 and 217 million in 2020. “Our surveys indicated soft smartphone demand with disappointing initial XR sales,” Walkley wrote in a note to clients Thursday. “Given the soft start to the latest lineup of iPhones, we are lowering our iPhone estimates and forecast lower year-over-year unit sales
Apple estimates cut again amid fears of sluggish iPhone demand Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-29  Authors: thomas franck, david paul morris, bloomberg, getty images
Keywords: news, cnbc, companies, estimates, demand, amid, target, million, xr, apple, versus, expectations, soft, walkley, sales, xs, cut, sluggish, fears, iphone


Apple estimates cut again amid fears of sluggish iPhone demand

Another Wall Street firm has cut expectations for Apple amid fears of soft smartphone and overall iPhone demand.

Canaccord Genuity analyst Michael Walkley reduced his 12-month price target to $225 from $250 over the next year. The new target is still 24 percent higher than Wednesday’s closing price.

Canaccord Genuity also lowered its 2019 and 2020 earnings per share estimates. It now expects EPS of $13.25 next year and $14.69 in 2020 versus $13.46 and $15.18 previously. Walkley slashed his iPhone units sales expectations to 213 million in 2018, 208 million in 2019 and 217 million in 2020.

“Our surveys indicated soft smartphone demand with disappointing initial XR sales,” Walkley wrote in a note to clients Thursday. “Given the soft start to the latest lineup of iPhones, we are lowering our iPhone estimates and forecast lower year-over-year unit sales in calendar 2019.”

The analyst said muted demand for the XR fell short of his high expectations. He added that survey feedback for “lackluster” initial sales included its inferior quality perception given its aluminum construction versus the XS and XS Max, as well as lack of an HD screen and lower-cost options in the older iPhone X and 8 models.

Despite the target cut, Walkley still has a buy rating on the company’s stock. Shares of Apple rose 0.9 percent in premarket trading Thursday.


Company: cnbc, Activity: cnbc, Date: 2018-11-29  Authors: thomas franck, david paul morris, bloomberg, getty images
Keywords: news, cnbc, companies, estimates, demand, amid, target, million, xr, apple, versus, expectations, soft, walkley, sales, xs, cut, sluggish, fears, iphone


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Safe haven dollar firms on global slowdown fears, trade tensions

The dollar traded firm against major peers on Wednesday, extending overnight gains as investors shunned riskier assets in favour of safe haven currencies on escalating worries about slowing global growth and the U.S.-Sino trade war. “What’s driving currency markets right now are fears of a slowdown in economic growth with safe haven currencies like the dollar and yen likely to benefit,” said Michael McCarthy, chief markets strategist at CMC Markets. “For now, the dollar has retained its safe hav


The dollar traded firm against major peers on Wednesday, extending overnight gains as investors shunned riskier assets in favour of safe haven currencies on escalating worries about slowing global growth and the U.S.-Sino trade war. “What’s driving currency markets right now are fears of a slowdown in economic growth with safe haven currencies like the dollar and yen likely to benefit,” said Michael McCarthy, chief markets strategist at CMC Markets. “For now, the dollar has retained its safe hav
Safe haven dollar firms on global slowdown fears, trade tensions Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-21  Authors: mark wilson, getty images
Keywords: news, cnbc, companies, fears, tensions, low, dollar, yen, greenback, traded, global, markets, trade, haven, safe, firms, risk, slowdown


Safe haven dollar firms on global slowdown fears, trade tensions

The dollar traded firm against major peers on Wednesday, extending overnight gains as investors shunned riskier assets in favour of safe haven currencies on escalating worries about slowing global growth and the U.S.-Sino trade war.

With sentiment souring and a global equities rout on Tuesday, risk averse traders sought shelter in the liquid dollar, which climbed from a two-week low hit earlier on Tuesday.

“What’s driving currency markets right now are fears of a slowdown in economic growth with safe haven currencies like the dollar and yen likely to benefit,” said Michael McCarthy, chief markets strategist at CMC Markets.

The greenback had been under pressure for most of this week as cautious comments by Federal Reserve officials and surprisingly weak U.S. economic data suggested the central bank could slow the pace of monetary policy tightening.

The dollar index, measuring performance against six major peers, was steady at 96.82 on Wednesday. The index gained 0.65 percent in the previous trading session.

“For now, the dollar has retained its safe haven attributes outperforming across the board in the overnight session,” said Rodrigo Catril, senior currency strategist at NAB, in a note.

With the Federal Reserve widely expected to raise interest rates by 25 basis points in December, analysts think the greenback could trade with a positive bias in the short term, despite lowering their longer-term rate hike expectations.

The yen traded at 112.91, with the greenback gaining 0.14 percent. The yen hit its highest level this month on Tuesday at 112.29 per dollar before losing steam as dollar bulls took charge.

Despite its safe haven status, the yen’s strength has been muted. Analysts suspect this is because Japanese investors have kept their money in U.S. and foreign markets, rather than bring it home.

The euro traded with a weak bias at $1.1372. The single currency lost 0.7 percent of its value on Tuesday.

Wider confidence retreated on Tuesday as Italian bank shares hit a two-year low and the spread between German and Italian bond yields widened.

Italy is at loggerheads with the European Commission and many fellow euro zone governments over its expansionary 2019 budget, which breaks EU’s fiscal rules.

“The potential for the a further tussle between Rome and Brussels can have an impact on the overall Eurozone economic growth, which will keep the euro under pressure,” added Michael McCarthy.

The British pound was little changed at $1.2786, having lost 0.5 percent versus the greenback on Tuesday. The pound is seen likely to trade sideways until the market gets more clarity on progress in the Brexit deal.

The Canadian dollar dropped to a four-month low versus the dollar to trade at 1.3305 as the price of crude fell to its lowest level in more than a year ahead of next month’s OPEC meeting. Canada is one of the world’s top oil exporters.

Elsewhere, the Australian dollar, often considered a barometer of risk appetite, staged a slight recovery along with U.S. equity futures, gaining 0.2 percent to trade at $0.7230. The Aussie dollar lost more than 1 percent on Tuesday as global risk sentiment worsened.


Company: cnbc, Activity: cnbc, Date: 2018-11-21  Authors: mark wilson, getty images
Keywords: news, cnbc, companies, fears, tensions, low, dollar, yen, greenback, traded, global, markets, trade, haven, safe, firms, risk, slowdown


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Goldman Sachs: Market plunge does not indicate a recession is near

The U.S. economy will not head into a recession in the next two years despite fears in the market that one may be on the horizon, Goldman Sachs’ Peter Oppenheimer told CNBC on Wednesday. Oppenheimer, chief global equity strategist at Goldman, expects the U.S. economy to grow but at a much slower pace of 1.6 percent by 2020. Equity markets are selling off for several reasons, he said, citing global trade worries, fears of weak profit growth in the next few years and rising interest rates. “The re


The U.S. economy will not head into a recession in the next two years despite fears in the market that one may be on the horizon, Goldman Sachs’ Peter Oppenheimer told CNBC on Wednesday. Oppenheimer, chief global equity strategist at Goldman, expects the U.S. economy to grow but at a much slower pace of 1.6 percent by 2020. Equity markets are selling off for several reasons, he said, citing global trade worries, fears of weak profit growth in the next few years and rising interest rates. “The re
Goldman Sachs: Market plunge does not indicate a recession is near Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-21  Authors: berkeley lovelace jr
Keywords: news, cnbc, companies, growth, profit, fears, global, indicate, recession, plunge, near, markets, expects, oppenheimer, sachs, equity, goldman, does, market, sp


Goldman Sachs: Market plunge does not indicate a recession is near

The U.S. economy will not head into a recession in the next two years despite fears in the market that one may be on the horizon, Goldman Sachs’ Peter Oppenheimer told CNBC on Wednesday.

Oppenheimer, chief global equity strategist at Goldman, expects the U.S. economy to grow but at a much slower pace of 1.6 percent by 2020.

Equity markets are selling off for several reasons, he said, citing global trade worries, fears of weak profit growth in the next few years and rising interest rates.

“The reality of a slowdown in profit growth and in activity, economically, has really been at the heart of this sell-off,” Oppenheimer said in an interview on CNBC’s “Worldwide Exchange.”

U.S. stocks rose Wednesday. With Tuesday’s losses, the Dow and S&P 500 were lower for the year, and the S&P 500 joined the Nasdaq in correction territory.

Oppenheimer said he expects support for equity markets, arguing that stock returns compared to economic growth expectations suggest there may have already been an overshoot on the downside in the market.

“We’re still in an upward trend,” Oppenheimer said. “The overall growth rates are going to slow, and we should expect a relatively low return in global equity markets next year but still positive.”


Company: cnbc, Activity: cnbc, Date: 2018-11-21  Authors: berkeley lovelace jr
Keywords: news, cnbc, companies, growth, profit, fears, global, indicate, recession, plunge, near, markets, expects, oppenheimer, sachs, equity, goldman, does, market, sp


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post