Sterling plummets to 21-month low as UK government pulls Parliament’s vote on Brexit

Sterling slumped to a 21-month low as British Prime Minister Theresa May confirmed that the government would delay a Brexit vote in the parliament, that had earlier been scheduled for Tuesday. Earlier on Monday, the pound fell to $1.266, a level not seen since April 2017, following several media reports that May had gathered senior aides at a Monday morning meeting in 10 Downing Street to discuss pulling the vote. It further fell to $1.2616 after PM May addressed the parliament, bringing the los


Sterling slumped to a 21-month low as British Prime Minister Theresa May confirmed that the government would delay a Brexit vote in the parliament, that had earlier been scheduled for Tuesday. Earlier on Monday, the pound fell to $1.266, a level not seen since April 2017, following several media reports that May had gathered senior aides at a Monday morning meeting in 10 Downing Street to discuss pulling the vote. It further fell to $1.2616 after PM May addressed the parliament, bringing the los
Sterling plummets to 21-month low as UK government pulls Parliament’s vote on Brexit Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: david reid, spriha srivastava, victoria jones – pa images, pa images, getty images
Keywords: news, cnbc, companies, 21month, parliaments, parliament, uk, losses, plummets, knew, brexit, pound, fell, gallo, pulls, vote, european, door, fx, sterling, low


Sterling plummets to 21-month low as UK government pulls Parliament's vote on Brexit

Sterling slumped to a 21-month low as British Prime Minister Theresa May confirmed that the government would delay a Brexit vote in the parliament, that had earlier been scheduled for Tuesday.

Earlier on Monday, the pound fell to $1.266, a level not seen since April 2017, following several media reports that May had gathered senior aides at a Monday morning meeting in 10 Downing Street to discuss pulling the vote.

It further fell to $1.2616 after PM May addressed the parliament, bringing the losses to nearly 1.7 percent against the dollar on the day. The pound also extended losses versus the euro, trading down by 0.7 percent to 90.18 pence.

May claimed that while there was broad support for her deal, the issue of the Northern Irish backstop remained a concern and she would return to European counterparts to renegotiate the deal.

“A worrying tone is emanating from the debate in the House. We already knew that delaying the vote to avoid a catastrophic loss for the government would have opened the door to an internal Conservative party leadership challenge,” Stephen Gallo, European head of FX strategy at BMO Capital Markets told CNBC via email on Monday.

“Now, however, many MPs appear to be using their rhetoric to pave the way for a parliamentary no confidence vote in the PM and her government. So that door is still open. We knew this too, but the FX market appears to be reacting to the realization of it, Gallo added.”


Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: david reid, spriha srivastava, victoria jones – pa images, pa images, getty images
Keywords: news, cnbc, companies, 21month, parliaments, parliament, uk, losses, plummets, knew, brexit, pound, fell, gallo, pulls, vote, european, door, fx, sterling, low


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Oil prices slip in line with bearish equities

Oil fell on Monday, in line with further declines in global stock markets, giving back some of the gains made last week when producer group OPEC and other key exporters agreed to cut their crude output. International Brent crude oil futures fell 63 cents, or 1 percent, to $61.04 a barrel by 8:20 a.m. Prices rose 3 percent on Friday after OPEC and some non-OPEC producers including heavyweight Russia said they would cut oil supply by 1.2 million barrels per day. They could disagree on prices and u


Oil fell on Monday, in line with further declines in global stock markets, giving back some of the gains made last week when producer group OPEC and other key exporters agreed to cut their crude output. International Brent crude oil futures fell 63 cents, or 1 percent, to $61.04 a barrel by 8:20 a.m. Prices rose 3 percent on Friday after OPEC and some non-OPEC producers including heavyweight Russia said they would cut oil supply by 1.2 million barrels per day. They could disagree on prices and u
Oil prices slip in line with bearish equities Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: spencer platt, getty images
Keywords: news, cnbc, companies, oil, opec, west, cents, equities, prices, slip, line, wanted, inventories, bearish, really, crude, fell, cut


Oil prices slip in line with bearish equities

Oil fell on Monday, in line with further declines in global stock markets, giving back some of the gains made last week when producer group OPEC and other key exporters agreed to cut their crude output.

International Brent crude oil futures fell 63 cents, or 1 percent, to $61.04 a barrel by 8:20 a.m. ET (1320 GMT), while U.S. West Texas Intermediate crude lost 85 cents, or 1.6 percent, to trade at $51.76 a barrel.

Prices rose 3 percent on Friday after OPEC and some non-OPEC producers including heavyweight Russia said they would cut oil supply by 1.2 million barrels per day.

“They had one thing in common — none of them wanted to see inventories rise further. They could disagree on prices and upon the size of the cuts, but to really see inventories moving higher? No one wanted that,” SEB commodities strategist Bjarne Schieldrop said.

“Firstly, we’ll get some (price) stability, even if oil is weighed down by bearish equities. That really took the glow off oil,” he said.


Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: spencer platt, getty images
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Job growth falls short of expectations in November: 155,000 payrolls created vs 198,000 estimate

Job growth slowed in November amid fears that economic growth is losing steam. Nonfarm payrolls increased by 155,000 for the month while the unemployment rate again held at 3.7 percent, its lowest since 1969, the Labor Department reported Friday. Economists surveyed by Dow Jones had been expecting payroll growth of 198,000 and the jobless rate to hold steady. A separate gauge that includes discouraged workers and those holding part-time jobs for economic reasons, sometimes called the real unempl


Job growth slowed in November amid fears that economic growth is losing steam. Nonfarm payrolls increased by 155,000 for the month while the unemployment rate again held at 3.7 percent, its lowest since 1969, the Labor Department reported Friday. Economists surveyed by Dow Jones had been expecting payroll growth of 198,000 and the jobless rate to hold steady. A separate gauge that includes discouraged workers and those holding part-time jobs for economic reasons, sometimes called the real unempl
Job growth falls short of expectations in November: 155,000 payrolls created vs 198,000 estimate Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-07  Authors: jeff cox
Keywords: news, cnbc, companies, created, workers, 03, 198000, fell, vs, short, unemployment, falls, lowest, earnings, rate, expectations, estimate, payrolls, economic, rose, job, growth


Job growth falls short of expectations in November: 155,000 payrolls created vs 198,000 estimate

Job growth slowed in November amid fears that economic growth is losing steam.

Nonfarm payrolls increased by 155,000 for the month while the unemployment rate again held at 3.7 percent, its lowest since 1969, the Labor Department reported Friday. Economists surveyed by Dow Jones had been expecting payroll growth of 198,000 and the jobless rate to hold steady.

Average hourly earnings, a closely watched sign of whether inflation pressures are building, again rose at a 3.1 percent pace from a year ago. The monthly earnings gain of 0.2 percent fell short of estimates for a 0.3 percent increase. The average work week edged lower by 0.1 hours to 34.4 hours.

Stock futures turned positive following the weak report as traders bet it may mean the Federal Reserve is less aggressive next year on rate hikes.

A separate gauge that includes discouraged workers and those holding part-time jobs for economic reasons, sometimes called the real unemployment rate, rose from 7.4 percent to 7.6 percent.

The unemployment rate for African-Americans fell 0.3 percent to 5.9 percent, tied for its lowest on record.

WATCH: Why you may not be feeling a boost in wages


Company: cnbc, Activity: cnbc, Date: 2018-12-07  Authors: jeff cox
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Huawei CFO arrest hits Asian tech stocks hard; broader markets sell-off as global rout continues

Technology stocks across the region were under pressure, including many Huawei partners and suppliers. Taiwan’s major tech names also struggled: Catcher Technology fell 9.89 percent, Taiwan Semiconductor was down 2.65 percent, Largan Precision lost 9.94 percent and iPhone assembler Hon Hai dropped 3.63 percent. “Huawei equipment is more widely used (than ZTE is) by carriers around the world, including in Europe and Africa,” they said. ZTE shares listed in Hong Kong were down 5.94 percent on the


Technology stocks across the region were under pressure, including many Huawei partners and suppliers. Taiwan’s major tech names also struggled: Catcher Technology fell 9.89 percent, Taiwan Semiconductor was down 2.65 percent, Largan Precision lost 9.94 percent and iPhone assembler Hon Hai dropped 3.63 percent. “Huawei equipment is more widely used (than ZTE is) by carriers around the world, including in Europe and Africa,” they said. ZTE shares listed in Hong Kong were down 5.94 percent on the
Huawei CFO arrest hits Asian tech stocks hard; broader markets sell-off as global rout continues Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-06  Authors: saheli roy choudhury, eustance huang, miguel candela, sopa images, lightrocket, getty images
Keywords: news, cnbc, companies, rout, continues, shares, stocks, fell, markets, hits, equipment, technology, major, tech, softbank, represents, selloff, hard, huawei, global, zte


Huawei CFO arrest hits Asian tech stocks hard; broader markets sell-off as global rout continues

Technology stocks across the region were under pressure, including many Huawei partners and suppliers.

Chipmaker Samsung tumbled 2.29 percent, Sunny Optical, which makes some of the lenses for Huawei phones, fell 5.47 percent and AAC Technologies declined 5.59 percent on the day. Chinasoft International, where Huawei is a strategic shareholder, dropped 11.71 percent.

Shares of Nikkei heavyweight SoftBank Group fell 4.93 percent. Last year, SoftBank and Huawei jointly demonstrated potential use of the next generation of high-speed mobile internet; SoftBank is taking its mobile unit public on Dec. 19.

The negative sentiment rippled through the broader Japanese tech sector, with shares of Tokyo Electron down 4.54 percent, Advantest falling 5.30 percent and TDK Corp dropping 6.64 percent.

Taiwan’s major tech names also struggled: Catcher Technology fell 9.89 percent, Taiwan Semiconductor was down 2.65 percent, Largan Precision lost 9.94 percent and iPhone assembler Hon Hai dropped 3.63 percent. Asia’s Apple suppliers, in general, saw Thursday declines.

Analysts at Jefferies pointed out that Huawei has a major global presence in various technology areas such as telecommunications equipment, semiconductors, smartphones and cloud computing. It also represents a major growth driver for many tech manufacturers.

Huawei’s Meng, who is the daughter of the company’s founder, faces extradition to the U.S., according to Canada’s Department of Justice.

While the arrest represents a new escalation in American efforts to hold Chinese companies accountable for violation of U.S. laws, it is likely to elicit an angry reaction from Beijing, according to Eurasia Group.

“The investigation of Huawei could be a prelude to further action against the firm and its senior officials,” the Eurasia Group analysts said, adding that if the U.S. places a sudden ban on Huawei equipment, like it did with ZTE, the impact would be much greater.

“Huawei equipment is more widely used (than ZTE is) by carriers around the world, including in Europe and Africa,” they said.

ZTE shares listed in Hong Kong were down 5.94 percent on the day.

Both Huawei and ZTE are restricted from selling telecoms equipment in the U.S. due to what the U.S. describes as national security concerns.


Company: cnbc, Activity: cnbc, Date: 2018-12-06  Authors: saheli roy choudhury, eustance huang, miguel candela, sopa images, lightrocket, getty images
Keywords: news, cnbc, companies, rout, continues, shares, stocks, fell, markets, hits, equipment, technology, major, tech, softbank, represents, selloff, hard, huawei, global, zte


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Dollar dips versus yen as growth concerns shake confidence

The dollar fell against the yen on Thursday as growing investor aversion to riskier assets hit equities and pushed down U.S. Treasury yields. Global equity markets have been shaken and the dollar fell this week after an inversion in a part of the U.S. Treasury yield curve triggered market concerns about economic growth. U.S. Treasury yields fell, pressuring the dollar. “Lower Treasury yields are driving the dollar lower against the yen. The euro lost 0.42 percent to 127.85 yen, the Australian do


The dollar fell against the yen on Thursday as growing investor aversion to riskier assets hit equities and pushed down U.S. Treasury yields. Global equity markets have been shaken and the dollar fell this week after an inversion in a part of the U.S. Treasury yield curve triggered market concerns about economic growth. U.S. Treasury yields fell, pressuring the dollar. “Lower Treasury yields are driving the dollar lower against the yen. The euro lost 0.42 percent to 127.85 yen, the Australian do
Dollar dips versus yen as growth concerns shake confidence Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-06  Authors: matt cardy, getty images
Keywords: news, cnbc, companies, growth, dollar, concerns, meeting, lower, treasury, versus, dips, confidence, yields, fell, yen, yield, week, shake, market


Dollar dips versus yen as growth concerns shake confidence

The dollar fell against the yen on Thursday as growing investor aversion to riskier assets hit equities and pushed down U.S. Treasury yields.

The U.S. currency dropped 0.45 percent to 112.68 yen, handing back its modest gains made overnight.

Global equity markets have been shaken and the dollar fell this week after an inversion in a part of the U.S. Treasury yield curve triggered market concerns about economic growth.

Adding to the jitters on Thursday was the arrest in Canada of a top executive of Chinese tech giant Huawei Technologies, fanning fears of a flare-up in tensions between China and the United States just as the two sides are supposed to be resuming trade negotiations.

MSCI’s broadest index of Asia-Pacific shares outside Japan was down 1.93 percent and Japan’s Nikkei lost more than 2 percent.

U.S. Treasury yields fell, pressuring the dollar.

“Lower Treasury yields are driving the dollar lower against the yen. It is difficult to pinpoint how much funds investors have transferred from equities to bonds in the recent risk aversion and it is too early to call a bottom for Treasury yields,” said Yukio Ishizuki, senior currency strategist at Daiwa Securities.

The 10-year Treasury yield last stood at 2.8829 percent.

Signals from the Federal Reserve last week that it may be nearing an end to its three-year rate hiking cycle have helped trigger the slide in Treasury yields.

The spread between the two-year and five-year Treasury yields inverted this week and the two-year/10-year spread was at its flattest in more than a decade amid a sharp fall in long-term rates.

A flatter curve is seen as an indicator of a slowing economy, with lower longer-dated yields suggesting a potential recession down the road.

“The dollar could remain under pressure until this month’s Fed meeting as long-term Treasury yields may not be able to mount a rebound until the market sees the Fed’s stance on policy and the economy,” said Junichi Ishikawa, senior FX strategist at IG Securities in Tokyo.

“The recent reaction to the U.S. yield curve inversion appears a little hysterical, but the dollar will not be given the all clear sign until the Fed meeting is hurdled.”

Fed policymakers are still widely expected to raise interest rates again at their Dec 18-19 meeting, but the market focus is on how many rate hikes will follow in 2019.

The yen, often sought in times of market unrest, made strides against other peers as well.

The euro lost 0.42 percent to 127.85 yen, the Australian dollar slumped 1.02 percent to 81.44 yen and the pound fell 0.55 percent to 143.33 yen.

The euro was little changed at $1.1346 after retreating from this week’s high of $1.1419 scaled on Tuesday.

The Australian dollar, sensitive to swings in risk sentiment, was down 0.58 percent at $0.7226.

The Aussie was already on a shaky footing after shedding nearly 1 percent the previous day on weaker-than-expected third quarter Australian gross domestic product data.

The pound was a shade lower at $1.2723.

Sterling had sunk to a 17-month low of $1.2659 at one point on Tuesday after parliamentary setbacks for Prime Minister Theresa May.

— CNBC contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2018-12-06  Authors: matt cardy, getty images
Keywords: news, cnbc, companies, growth, dollar, concerns, meeting, lower, treasury, versus, dips, confidence, yields, fell, yen, yield, week, shake, market


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Dollar weakens as US bond yields fall, trade tariff postponement supports riskier currencies

The dollar slipped in Asia on Tuesday as U.S. Treasury yields fell to three-month lows, a sign some investors were wagering the Federal Reserve would slow the pace of its rate hikes. The U.S. 10-year Treasury yield fell to 2.94 percent on Tuesday, its lowest level since mid September. “Falling U.S. yields are a negative for the dollar, especially versus the major currencies,” said Rodrigo Catril, senior currency strategist at NAB. Catril added that U.S. Treasury yields are near crucial technical


The dollar slipped in Asia on Tuesday as U.S. Treasury yields fell to three-month lows, a sign some investors were wagering the Federal Reserve would slow the pace of its rate hikes. The U.S. 10-year Treasury yield fell to 2.94 percent on Tuesday, its lowest level since mid September. “Falling U.S. yields are a negative for the dollar, especially versus the major currencies,” said Rodrigo Catril, senior currency strategist at NAB. Catril added that U.S. Treasury yields are near crucial technical
Dollar weakens as US bond yields fall, trade tariff postponement supports riskier currencies Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-04  Authors: tyrone siu
Keywords: news, cnbc, companies, trade, dollar, yuan, tariff, weakens, fall, yield, treasury, fed, versus, rate, fell, postponement, yields, riskier, currencies, supports


Dollar weakens as US bond yields fall, trade tariff postponement supports riskier currencies

The dollar slipped in Asia on Tuesday as U.S. Treasury yields fell to three-month lows, a sign some investors were wagering the Federal Reserve would slow the pace of its rate hikes.

The weakness in the dollar comes against the backdrop of a temporary truce in the US-China trade conflict, which has bolstered investor confidence in riskier currencies versus the safe-haven greenback.

The U.S. 10-year Treasury yield fell to 2.94 percent on Tuesday, its lowest level since mid September. The difference in yield between the U.S. 2-year and 10-year tightened to its smallest since July 2007.

The two-10-year yield curve is a key focus for investors as an inversion is seen as predictor of a U.S. recession. A yield curve is said to be inverted when yields on longer-dated maturity bonds are lower than shorter-dated maturity bonds.

The yield curve has flattened as continuing interest rate hikes send short-dated yields higher, while longer-dated Treasuries are supported by tepid inflation and slowing global growth.

“Falling U.S. yields are a negative for the dollar, especially versus the major currencies,” said Rodrigo Catril, senior currency strategist at NAB.

Catril added that U.S. Treasury yields are near crucial technical support levels, a break of which could add further pressure on U.S. yields and the dollar.

The dollar index, a gauge of its value versus six major peers, was off 0.23 percent at 96.8.

The dollar had been supported for most of 2018 by a robust U.S. economy and a relatively hawkish Fed, which is widely expected to raise its policy interest rate later this month.

Markets have priced in an 87 percent probability of a rate hike at the Fed’s Dec. 18-19 meeting.

The dollar came under pressure last week when the market took comments from Fed Chair Jerome Powell as signalling a slower pace of rate hikes.

A more dovish tone from the Fed last week has led markets to question how many times the central bank will hike rates in 2019.

“Given data remains strong, we think the Fed will hike twice in 2019 and that’s more than what the market is pricing in right now…we remain moderately bullish on the dollar,” said Nick Twidale, chief operating officer at Rakuten Securities.

Currencies such as the Chinese yuan, which were battered in the US-China trade war, are expected to trade stronger versus the greenback in the coming weeks as investor sentiment improves.

The dollar fell 0.5 percent against the offshore yuan to 6.8375. On Monday, it lost 1.07 percent, its steepest percentage fall since Aug. 25.

“For now, it seems China has got the best out of G20 and we expect the yuan to remain supported,” added Twidale.

However, he warned that markets need to see a further easing in trade tensions for the risk-on rally to continue.

The Australian dollar gained 0.3 percent in Asian trade at $0.7376. The Reserve Bank of Australia kept its policy cash rate unchanged on Tuesday in a widely expected move.

The yen traded at 113.13 to the dollar, with the greenback losing 0.4 percent versus the Japanese currency.

Elsewhere, sterling was gained 0.2 percent to trade at $1.2744 due to broad dollar weakness. On Monday, the pound fell below $1.27 for the first time since Oct. 31.

Sterling has posted losses for three consecutive weeks as traders bet that British Prime Minister Theresa May will not be able to pass her Brexit deal through parliament on Dec. 11.


Company: cnbc, Activity: cnbc, Date: 2018-12-04  Authors: tyrone siu
Keywords: news, cnbc, companies, trade, dollar, yuan, tariff, weakens, fall, yield, treasury, fed, versus, rate, fell, postponement, yields, riskier, currencies, supports


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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


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The FAANG stocks shed $140 billion in Tuesday’s market rout

In total, the so-called FAANG stocks — Facebook, Amazon, Apple, Netflix and Alphabet-owned Google — shed more than $140 billion in market value by the end of the trading Tuesday. Here’s how it shook out:Facebook fell 2.2 percent, losing $7.6 billion in implied market valueAmazon fell 5.9 percent, losing $50.8 billion in implied market valueApple fell 4.4 percent, losing $38.5 billion in implied market valueNetflix fell 5.2 percent, losing $6.5 billion in implied market valueAlphabet fell 4.8 per


In total, the so-called FAANG stocks — Facebook, Amazon, Apple, Netflix and Alphabet-owned Google — shed more than $140 billion in market value by the end of the trading Tuesday. Here’s how it shook out:Facebook fell 2.2 percent, losing $7.6 billion in implied market valueAmazon fell 5.9 percent, losing $50.8 billion in implied market valueApple fell 4.4 percent, losing $38.5 billion in implied market valueNetflix fell 5.2 percent, losing $6.5 billion in implied market valueAlphabet fell 4.8 per
The FAANG stocks shed $140 billion in Tuesday’s market rout Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-04  Authors: sara salinas, april greer, the washington post, getty images
Keywords: news, cnbc, companies, rout, faang, yeartodate, fell, apple, losing, netflix, 140, market, losses, billion, facebook, shed, tuesdays, implied, stocks


The FAANG stocks shed $140 billion in Tuesday's market rout

In total, the so-called FAANG stocks — Facebook, Amazon, Apple, Netflix and Alphabet-owned Google — shed more than $140 billion in market value by the end of the trading Tuesday.

Here’s how it shook out:

Facebook fell 2.2 percent, losing $7.6 billion in implied market value

Amazon fell 5.9 percent, losing $50.8 billion in implied market value

Apple fell 4.4 percent, losing $38.5 billion in implied market value

Netflix fell 5.2 percent, losing $6.5 billion in implied market value

Alphabet fell 4.8 percent, losing $37.5 billion in implied market value

The losses extend pain periods for Apple, which has seen downturn in recent weeks, and Facebook, which is suffering a down year on the heels of several scandals. Amazon and Netflix, though, are each up more than 40 percent year-to-date despite getting caught in the rout.

With Tuesday’s losses, Alphabet is hanging onto modest year-to-date gains, up just 0.8 percent in 2018.

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Company: cnbc, Activity: cnbc, Date: 2018-12-04  Authors: sara salinas, april greer, the washington post, getty images
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Bitcoin drops 8% to kick off December

Bitcoin is kicking off the last month of 2018 with another downward drop. At this time last year, bitcoin was beginning its climb to almost $20,000 and ended last December up 40 percent. But the tail end of this year has been a different story: Bitcoin is now down 73 percent since the beginning of January. Twenty-four-hour trading volumes are down 56 percent since Jan. 1, while the entire cryptocurrency market capitalization has fallen 80 percent. XRP, the world’s second-largest by market value,


Bitcoin is kicking off the last month of 2018 with another downward drop. At this time last year, bitcoin was beginning its climb to almost $20,000 and ended last December up 40 percent. But the tail end of this year has been a different story: Bitcoin is now down 73 percent since the beginning of January. Twenty-four-hour trading volumes are down 56 percent since Jan. 1, while the entire cryptocurrency market capitalization has fallen 80 percent. XRP, the world’s second-largest by market value,
Bitcoin drops 8% to kick off December Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-03  Authors: kate rooney, luke macgregor, bloomberg, getty images
Keywords: news, cnbc, companies, market, cryptocurrency, value, worlds, kick, xrp, fell, bitcoin, drops, volumes, according, beginning


Bitcoin drops 8% to kick off December

Bitcoin is kicking off the last month of 2018 with another downward drop.

After ending November deeply in the red, the world’s largest cryptocurrency fell as much as 8 percent on Monday to a low of $3,790.96, according to data from CoinDesk.

At this time last year, bitcoin was beginning its climb to almost $20,000 and ended last December up 40 percent. It entered its hot streak just after Thanksgiving last year, surging in price largely because retail investors were buying in.

But the tail end of this year has been a different story: Bitcoin is now down 73 percent since the beginning of January. Twenty-four-hour trading volumes are down 56 percent since Jan. 1, while the entire cryptocurrency market capitalization has fallen 80 percent.

Other cryptocurrencies also fell on Monday. XRP, the world’s second-largest by market value, was down 5 percent, according to CoinMarketCap. Ether fell 8 percent.


Company: cnbc, Activity: cnbc, Date: 2018-12-03  Authors: kate rooney, luke macgregor, bloomberg, getty images
Keywords: news, cnbc, companies, market, cryptocurrency, value, worlds, kick, xrp, fell, bitcoin, drops, volumes, according, beginning


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US factory activity jumps in November while construction spending falls for third month

A subindex of prices paid fell to 60.7 from 71.6 in October, coming in well below estimates for a reading of 70. Markit’s U.S. manufacturing PMI fell to 55.3 from 55.7 in October, the lowest since August and down slightly from Markit’s preliminary reading for November. Policymakers flagged issues including signs of slowing in interest-rate sensitive sectors, along with global risks and other factors. Data on Thursday showed U.S. consumer spending had risen by the most in seven months in October,


A subindex of prices paid fell to 60.7 from 71.6 in October, coming in well below estimates for a reading of 70. Markit’s U.S. manufacturing PMI fell to 55.3 from 55.7 in October, the lowest since August and down slightly from Markit’s preliminary reading for November. Policymakers flagged issues including signs of slowing in interest-rate sensitive sectors, along with global risks and other factors. Data on Thursday showed U.S. consumer spending had risen by the most in seven months in October,
US factory activity jumps in November while construction spending falls for third month Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-03  Authors: waring abbott, getty images
Keywords: news, cnbc, companies, reading, jumps, falls, rate, fell, markits, construction, spending, month, activity, signs, showed, powell, fed, estimates, factory, orders


US factory activity jumps in November while construction spending falls for third month

A subindex of prices paid fell to 60.7 from 71.6 in October, coming in well below estimates for a reading of 70. Gauges of new orders and employment rose.

Separate figures on Monday from financial data firm Markit showed the pace of growth in the factory sector slipped to a three-month low, though a gauge of new orders ticked higher. Markit’s U.S. manufacturing PMI fell to 55.3 from 55.7 in October, the lowest since August and down slightly from Markit’s preliminary reading for November.

Financial markets were little moved by the data as investors focused on signs of progress in trade negotiations between the United States and China.

Minutes from the Federal Reserve’s November meeting released on Thursday showed nearly all Fed officials had agreed another rate hike was warranted soon but also opened debate on whether to pause further increases. Policymakers flagged issues including signs of slowing in interest-rate sensitive sectors, along with global risks and other factors.

Data on Thursday showed U.S. consumer spending had risen by the most in seven months in October, but that underlying price pressures slowed.

Testimony from Fed Chair Jerome Powell to Congress’s Joint Economic Committee about the economic outlook scheduled for Wednesday has been postponed due to a national day of mourning following the death of former President George H.W. Bush. No new date for the testimony has been announced. Powell last week had said the central bank’s policy rate was now “just below” estimates of a level that neither brakes nor boosts a healthy U.S. economy.


Company: cnbc, Activity: cnbc, Date: 2018-12-03  Authors: waring abbott, getty images
Keywords: news, cnbc, companies, reading, jumps, falls, rate, fell, markits, construction, spending, month, activity, signs, showed, powell, fed, estimates, factory, orders


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