Global sustainability standards are needed to curb climate crisis, says environmental director

Janice Lao, director of group corporate responsibility and sustainability at Hong Kong and Shanghai Hotels, has called for a consolidation of sustainability standards. There are “too many” sustainability metrics out there and they are overwhelming the public and hindering progress, Lao told CNBC’s “Street Signs” on Monday. Sustainability standards have grown at a rapid rate in recent decades as environmental issues gain increasing prominence. Lao, a Forbes Sustainability Leader, said she is alre


Janice Lao, director of group corporate responsibility and sustainability at Hong Kong and Shanghai Hotels, has called for a consolidation of sustainability standards.
There are “too many” sustainability metrics out there and they are overwhelming the public and hindering progress, Lao told CNBC’s “Street Signs” on Monday.
Sustainability standards have grown at a rapid rate in recent decades as environmental issues gain increasing prominence.
Lao, a Forbes Sustainability Leader, said she is alre
Global sustainability standards are needed to curb climate crisis, says environmental director Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: karen gilchrist
Keywords: news, cnbc, companies, global, needed, director, lao, shanghai, kong, standards, curb, environmental, crisis, climate, hotels, sustainability, going, progress


Global sustainability standards are needed to curb climate crisis, says environmental director

Businesses need to be singing from the same hymn sheet if they want to make meaningful progress in combatting the climate crisis, said the environmental director of one of Asia’s leading hotel groups, Hong Kong and Shanghai Hotels.

Janice Lao, director of group corporate responsibility and sustainability at Hong Kong and Shanghai Hotels, has called for a consolidation of sustainability standards.

There are “too many” sustainability metrics out there and they are overwhelming the public and hindering progress, Lao told CNBC’s “Street Signs” on Monday. “If we don’t talk in one language, people are not going to understand what progress we’re trying to achieve (and) where we are in the journey.”

Sustainability standards have grown at a rapid rate in recent decades as environmental issues gain increasing prominence. As of 2019, there were over 400 measures, according to the State of Sustainability Initiatives.

Lao, a Forbes Sustainability Leader, said she is already in talks with several standards agencies to come up with coordinated sustainability metrics, but she said greater backing was needed.

“If we can consolidate the definitions, it’s much easier for us to tell our story … not only to the public but also to the business community, who are going to be making these types of investments,” she said.

Lao’s comments come as leaders gather at the World Economic Forum in Davos, Switzerland this week to discuss, among other things, striking a unified response to the intensifying climate crisis.

Hong Kong and Shanghai Hotels has been advocating environmental practices since 2013 via its “Sustainable Luxury Vision 2020,” which covers areas such as sustainable food sourcing and construction.

Lao noted that the luxury hotel chain, which has operations in Asia, the U.S. and Europe, has succeeded in receiving investor buy-in because it was able to present the plan as part of its long-term strategy.

The director said that approach may be less attainable for low to mid-range hotels, with smaller margins. However, she added that businesses should regard the shift to sustainability as an inevitability, particularly as more countries move to curb unsustainable practices.

“This is what the future is going to be like, this is the norm,” said Lao. “We know that in all the cities we’re going to be operating in, in all the countries we’re operating, we’re seeing more and more environmental, climate change and plastics regulation. That’s something that we’re preparing for.”


Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: karen gilchrist
Keywords: news, cnbc, companies, global, needed, director, lao, shanghai, kong, standards, curb, environmental, crisis, climate, hotels, sustainability, going, progress


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Jeremy Siegel: Dow could hit 30,000 in the next 10 trading days, but danger lurks

Long-time bull Jeremy Siegel believes the Dow could hit the 30,000 milestone this month. With just 10 trading days left in January, the Wharton Finance professor is warning investors Dow 30,000 would likely be the breaking point for the record rally. “It’s going up a little too far, too fast,” he told CNBC’s “Trading Nation” on Thursday. You have to have earnings follow in a meaningful way,” Siegel said. Siegel, who accurately predicted market milestones including Dow 20,000 and Dow 25,000, spec


Long-time bull Jeremy Siegel believes the Dow could hit the 30,000 milestone this month.
With just 10 trading days left in January, the Wharton Finance professor is warning investors Dow 30,000 would likely be the breaking point for the record rally.
“It’s going up a little too far, too fast,” he told CNBC’s “Trading Nation” on Thursday.
You have to have earnings follow in a meaningful way,” Siegel said.
Siegel, who accurately predicted market milestones including Dow 20,000 and Dow 25,000, spec
Jeremy Siegel: Dow could hit 30,000 in the next 10 trading days, but danger lurks Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: stephanie landsman
Keywords: news, cnbc, companies, days, dow, way, hit, trading, market, jeremy, little, danger, 30000, going, siegel, vulnerable, lot, earnings, lurks


Jeremy Siegel: Dow could hit 30,000 in the next 10 trading days, but danger lurks

Long-time bull Jeremy Siegel believes the Dow could hit the 30,000 milestone this month.

But he doubts the celebration would last long.

With just 10 trading days left in January, the Wharton Finance professor is warning investors Dow 30,000 would likely be the breaking point for the record rally.

“It’s going up a little too far, too fast,” he told CNBC’s “Trading Nation” on Thursday. “Once you go too fast, a little stone can throw you off.”

Siegel’s major issue: Stocks are getting way too expensive.

“We have a lot of momentum players in this market. There are a lot of players that are just following the trend. They’re jumping on — saying, you know, ‘I don’t care about valuation, I’m going for this ride.’ And that worries me a little bit,” said Siegel.

As of Thursday’s close the Dow was just 2.4% away from 30,000. The year may be just two weeks old, but the index has already seen six all-time highs.

“You can’t keep on expanding multiples. You have to have earnings follow in a meaningful way,” Siegel said. “At this point, we have not seen earnings following a meaningful way.”

Siegel, who accurately predicted market milestones including Dow 20,000 and Dow 25,000, speculates the market is becoming more and more vulnerable to a 10% sell-off.

“Any little thing could trip things up. You know, earnings disappointments,” he said. “The market is going to be vulnerable for whatever disappointments, whatever bump that happens. Is Iran completely over? Is it solved? Do we have nothing to worry about in Europe or anywhere else internationally?”

Plus, Siegel warns that November’s presidential election is emerging as a serious risk factor.

“There’s a lot of uncertainty,” he said. “If there’s a Democratic sweep, both of the presidency and the Senate, I think that would be very bearish for the market because the Democrats say they’re going to undo the corporate tax cuts that [President Donald] Trump put in.”


Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: stephanie landsman
Keywords: news, cnbc, companies, days, dow, way, hit, trading, market, jeremy, little, danger, 30000, going, siegel, vulnerable, lot, earnings, lurks


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At age 30, Jeff Bezos thought this would be his one big regret in life

In 1994, Jeff Bezos worked at hedge fund D. E. Shaw, tasked with researching potential business opportunities involving the then brand-new internet landscape. I thought, ‘You know, when I’m 80, I’m not going to think about that. I knew for a fact, I have this idea, and if I don’t try, I’m going to regret having never tried,” he said. “And I know also, if I try and fail, I’ll never regret having tried and failed. Although he had a hunch regarding the growth of the internet, Bezos never expected A


In 1994, Jeff Bezos worked at hedge fund D. E. Shaw, tasked with researching potential business opportunities involving the then brand-new internet landscape.
I thought, ‘You know, when I’m 80, I’m not going to think about that.
I knew for a fact, I have this idea, and if I don’t try, I’m going to regret having never tried,” he said.
“And I know also, if I try and fail, I’ll never regret having tried and failed.
Although he had a hunch regarding the growth of the internet, Bezos never expected A
At age 30, Jeff Bezos thought this would be his one big regret in life Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: taylor locke
Keywords: news, cnbc, companies, amazon, life, moment, thought, going, big, jeff, regret, bezos, idea, company, tried, internet, age


At age 30, Jeff Bezos thought this would be his one big regret in life

In 1994, Jeff Bezos worked at hedge fund D. E. Shaw, tasked with researching potential business opportunities involving the then brand-new internet landscape. That’s when Bezos found a staggering statistic that sparked an idea to start his own business.

“I found this fact on a website that the web was growing at 2,300 percent per year,” Bezos told CNBC in a 2001 interview. “The idea that sort of entranced me was this idea of building a bookstore online.”

Of course, Amazon grew from an online bookseller to an e-commerce behemoth with a market cap of more than $920 billion.

But at age 30, when Bezos was deciding what to do about his idea — stick with his stable New York City job or give it up to start his own business — he tried to imagine what he would regret more, leaving Wall Street, or staying.

“I pictured myself 80 years old, thinking back on my life in a quiet moment of reflection,” he during a fireside chat in India on Wednesday. “Would I regret leaving this company in the middle of the year? And walking away from my annual bonus?

“All of those things that in the moment can be very confusing. I thought, ‘You know, when I’m 80, I’m not going to think about that. I’m not even going to remember it.'”

Bezos said he was “trying to figure out how to make this decision, because in the moment, personal life decisions, those choices, can be very challenging,” he said Wednesday.

“I wanted not to have regrets. I knew for a fact, I have this idea, and if I don’t try, I’m going to regret having never tried,” he said. “And I know also, if I try and fail, I’ll never regret having tried and failed.

“As soon as I thought about it that way, I knew I had to try.”

At the time it was a risky move, as the internet was not well known, despite its rapid rate of growth.

“Anything growing that fast, even if its baseline usage was tiny, it’s going to be big. I looked at that, and I was like ‘I should come up with a business idea on the internet and let the internet grow around this,'” he said during a September 2018 episode of “The David Rubenstein Show: Peer-to-Peer Conversations.”

He added, “I picked books because books is super unusual in one respect, which is that there are more book items in the book category than there are items in any other category.”

Bezos took the leap of faith, quit his job and moved to the suburbs of Seattle, where he started working on Amazon in his garage.

His decision paid off – Amazon grew quickly, going public in 1997 with $16 million in revenue and 180,000 customers spanning more than 100 countries, according to its SEC filing.

Although he had a hunch regarding the growth of the internet, Bezos never expected Amazon to grow to the extent it has today.

“What’s actually happened over the last 25 years is way beyond my expectations. I was delivering the packages myself, we were selling books. I was hoping to build a company, but not the company you see today,” he said Wednesday.

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Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: taylor locke
Keywords: news, cnbc, companies, amazon, life, moment, thought, going, big, jeff, regret, bezos, idea, company, tried, internet, age


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Bill Gates on spending his $110 billion: ‘Where can you put your money?…How many hamburgers can you eat?’

The good thing about having a lot of money is that you can buy your own plane. The challenging thing about having a lot of money is that you have to figure out how you are going to spend it all. The 64-year-old co-founder of Microsoft has $110.5 billion, according to Forbes, making him one of the richest people in the world. (Hamburgers are Gates’ favorite food, he said in the Netflix docu-series “Inside’s Bill’s Brain: Decoding Bill Gates.”) Gates also ruled out leaving it all to his children:


The good thing about having a lot of money is that you can buy your own plane.
The challenging thing about having a lot of money is that you have to figure out how you are going to spend it all.
The 64-year-old co-founder of Microsoft has $110.5 billion, according to Forbes, making him one of the richest people in the world.
(Hamburgers are Gates’ favorite food, he said in the Netflix docu-series “Inside’s Bill’s Brain: Decoding Bill Gates.”)
Gates also ruled out leaving it all to his children:
Bill Gates on spending his $110 billion: ‘Where can you put your money?…How many hamburgers can you eat?’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: catherine clifford
Keywords: news, cnbc, companies, money, going, hamburgers, moneyhow, thing, children, bill, good, lot, billion, 110, eat, gates, having, spend, spending


Bill Gates on spending his $110 billion: 'Where can you put your money?…How many hamburgers can you eat?'

The good thing about having a lot of money is that you can buy your own plane.

The challenging thing about having a lot of money is that you have to figure out how you are going to spend it all.

So says Bill Gates.

The 64-year-old co-founder of Microsoft has $110.5 billion, according to Forbes, making him one of the richest people in the world. (As of Friday, he trailed behind LVMH’s Bernard Arnault and Amazon founder Jeff Bezos.)

“Where can you put your money?” Gates asked in October at a centennial celebration of the high school he attended, Lakeside School.

“You can try to spend it on yourself,” he said. “How many hamburgers can you eat?” (Hamburgers are Gates’ favorite food, he said in the Netflix docu-series “Inside’s Bill’s Brain: Decoding Bill Gates.”)

“How many suits are you really going to wear? It’s pretty finite,” Gates said.

Gates also ruled out leaving it all to his children: Phoebe, 17; Rory, 20; and Jennifer, 23.

“It’s not that good an idea for your kids to give them a whole ton of money,” Gates said, citing a 1986 Fortune Magazine story, written by famed Warren Buffett biographer Carol Loomis, that details “the history of why over-endowing children” can be unproductive.


Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: catherine clifford
Keywords: news, cnbc, companies, money, going, hamburgers, moneyhow, thing, children, bill, good, lot, billion, 110, eat, gates, having, spend, spending


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US-China trade progress—Jim Cramer and experts on what comes next after phase one

Jim Cramer, host of CNBC’s “Mad Money,” is looking at one particular group of stocks after the first leg of the deal. “Our tariffs really didn’t come down much at all with the expectation that China scratches our backs and we’ll scratch theirs. We’ve just been lightening up as the market keeps going up and up and up despite fundamentals. David Lebovitz, global market strategist at J.P. Morgan Asset Management, is going back to earnings and the fundamentals. Steven Milunovich, managing director a


Jim Cramer, host of CNBC’s “Mad Money,” is looking at one particular group of stocks after the first leg of the deal.
“Our tariffs really didn’t come down much at all with the expectation that China scratches our backs and we’ll scratch theirs.
We’ve just been lightening up as the market keeps going up and up and up despite fundamentals.
David Lebovitz, global market strategist at J.P. Morgan Asset Management, is going back to earnings and the fundamentals.
Steven Milunovich, managing director a
US-China trade progress—Jim Cramer and experts on what comes next after phase one Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: keris lahiff
Keywords: news, cnbc, companies, whats, going, companies, think, cramer, earnings, comes, progressjim, really, looking, thats, experts, phase, uschina, watch, trade, market


US-China trade progress—Jim Cramer and experts on what comes next after phase one

The U.S. and China just signed a “phase one” trade deal.

Here’s what five experts are watching now.

Jim Cramer, host of CNBC’s “Mad Money,” is looking at one particular group of stocks after the first leg of the deal.

“Our tariffs really didn’t come down much at all with the expectation that China scratches our backs and we’ll scratch theirs. I’d watch the credit card companies. Watch Visa and Mastercard. That’s the easiest for them to turn on. Those companies have been waiting for it forever. It doesn’t really hurt other companies in China. You got reference to the CEOs of both those companies. I think if you want to tell, so to speak, of what this deal really means, you’ve got to watch Visa, Mastercard.”

Richard Bernstein, CIO of Richard Bernstein Advisors, is getting more bearish as the record rally pushes stocks to new highs.

“The point that I think people should be thinking about is as you go through the later stages of a bull market, do you buy into that bull market or do you sell into that bull market? We’ve just been lightening up as the market keeps going up and up and up despite fundamentals. I think most people would agree, fundamentals are not booming so why not sell into that kind of rally?”

Greg Hahn, president of Winthrop Capital Management, calls this a “reluctant rally.”

“We see about 5% earnings growth in the S&P 500. With the current multiple we’re probably at 3,300. … We’re still using fixed income in our asset allocation so that’s our safety net, we’re looking at a market that is fully valued, has fully discounted all of the good news that’s out there. This was a reluctant rally for us. We participated in it but we’re looking at this saying, ‘This doesn’t make sense.'”

David Lebovitz, global market strategist at J.P. Morgan Asset Management, is going back to earnings and the fundamentals.

“I think that part of the reason that we’ve been a little bit guarded is because we really didn’t get any new information. There were really no new surprises in what was finally signed, sealed and delivered yesterday. It was very much in the price and our view was that it was in the price and so rather than speculating on potential upside stemming from the deal which obviously didn’t materialize, we were just more focused on the fundamentals — 2% growth, what’s going on with earnings, what’s going on with wages and what’s that impact on margins? As we kick off the fourth-quarter earnings season here I think the most important thing to keep an eye on is if you look at operating earnings, you’re going to see a big bounce back. If you look at pro forma , it’s going to be about flat. The big thing that we’re looking at is what is guidance look like for 2020?”

Steven Milunovich, managing director at Wolfe Research, says the issues are more complex than this phase one deal has addressed.

“In terms of the trade situation, you know I know that China’s supposed to put an action plan forward in terms of intellectual property protection and not forcing technology transfer but I’m a bit skeptical about that. These are some deep problems and after years of stealing IP I don’t think they get fixed overnight but certainly in the short term I think it helps the market, it helps Trump’s reelection prospects.

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Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: keris lahiff
Keywords: news, cnbc, companies, whats, going, companies, think, cramer, earnings, comes, progressjim, really, looking, thats, experts, phase, uschina, watch, trade, market


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Beijing cracking down on IP theft could boost investment in China, former US negotiator says

He explained that the trade agreement’s provisions to protect intellectual property would make a difference for many of the companies doing business in China. They’re going to have due process for the judicial proceedings. It calls for China to submit an “Action Plan to strengthen intellectual property protection” within 30 days of the agreement taking effect. I’ll also make the point, this is going for China,” Willems said. Ultimately, “better intellectual property protection means more investm


He explained that the trade agreement’s provisions to protect intellectual property would make a difference for many of the companies doing business in China.
They’re going to have due process for the judicial proceedings.
It calls for China to submit an “Action Plan to strengthen intellectual property protection” within 30 days of the agreement taking effect.
I’ll also make the point, this is going for China,” Willems said.
Ultimately, “better intellectual property protection means more investm
Beijing cracking down on IP theft could boost investment in China, former US negotiator says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, investment, property, trade, willems, boost, theyre, theft, white, negotiator, intellectual, going, beijing, china, cracking, agreement


Beijing cracking down on IP theft could boost investment in China, former US negotiator says

President Donald Trump, with (L-R) Vice President Mike Pence, Treasury Secretary Steven Mnuchin and US Trade Representative Robert Lighthizer, speaks during a press conference with Chinas Vice Premier Liu He(not shown), the countrys top trade negotiator, before they sign a trade agreement between the US and China during a ceremony in the East Room of the White House in Washington, DC on January 15, 2020.

If Beijing cracks down hard on intellectual property thefts, it would not only boost the U.S. economy but it would also be good for China, according to a former top White House trade official.

Taking steps to protect trade secrets of foreign businesses operating in the world’s second-largest economy was part of the “phase one” trade deal that U.S. President Donald Trump signed with China on Wednesday.

“To me, the most significant part of this (deal) was what the U.S. was able to achieve on intellectual property,” Clete Willems, a partner at law firm Akin Gump, told CNBC’s “Squawk Box” on Thursday. “Trade secrets theft has been a long-time concern for U.S. businesses, and businesses around the world.”

Willems was previously the deputy director of the National Economic Council and served as the lead trade negotiator for the United States at multilateral summits like the G-7 and G-20.

He explained that the trade agreement’s provisions to protect intellectual property would make a difference for many of the companies doing business in China. “They’re going to have criminal penalties. They’re going to have due process for the judicial proceedings. They’re going to apply those penalties broader than they did in the past,” Willems said, adding there are provisions about pharmaceutical patents and counterfeit goods in the trade pact.

Wednesday’s agreement takes steps to root out several practices by Beijing that has irked the White House and members of Congress from both parties, including intellectual property theft and forced technology transfers from U.S. firms in exchange for Chinese market access.

It calls for China to submit an “Action Plan to strengthen intellectual property protection” within 30 days of the agreement taking effect. The proposal would include “measures that China will take to implement its obligations” and “the date by which each measure will go into effect.” (Read the full agreement here)

Part of the deal also details a $200 billion increase in Beijing’s purchases of U.S. goods over two years as well as commitment from Beijing to allow companies to operate without “any force or pressure” to hand over their technology — that, along with the trade secrets protection provisions, are likely to have ramifications for the U.S. tech sector, where firms want market access in China but are also suspicious over how government officials can access private data stored there.

“If you put it all together, it is going to be a big boost for the U.S. economy. I’ll also make the point, this is going for China,” Willems said. “This really empowers those in China that want to reform their system, want to make it more market-oriented and help them move down that path.”

Ultimately, “better intellectual property protection means more investment in China,” he added.

Still, some experts have expressed concerns about how the U.S. would ensure China keeps up with its commitments. Willems said the promise of further reduction in U.S. tariffs in the second phase of the trade agreement would likely be an incentive for Beijing to “faithfully implement this agreement.”

Another option for Washington would be to convince allies to work with the U.S. to enforce the agreement in a multilateral system to make it more sustainable and prevent Beijing from backsliding from its commitments, according to Willems.


Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, investment, property, trade, willems, boost, theyre, theft, white, negotiator, intellectual, going, beijing, china, cracking, agreement


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Under-the-radar bullish trend suggests the global economy is turning a corner

Economic forecaster Lakshman Achuthan is seeing signs of a global growth comeback in an under-the-radar trend. He’s finding industrial commodity prices are starting to firm up and about to turn positive — a signal that demand is returning. “You see that long suffering of the decline in global industrial commodity inflation over the last couple of years,” said Achuthan. He began noticing sluggishness in commodity industrial prices in the first half of last year. He has been in the global economic


Economic forecaster Lakshman Achuthan is seeing signs of a global growth comeback in an under-the-radar trend.
He’s finding industrial commodity prices are starting to firm up and about to turn positive — a signal that demand is returning.
“You see that long suffering of the decline in global industrial commodity inflation over the last couple of years,” said Achuthan.
He began noticing sluggishness in commodity industrial prices in the first half of last year.
He has been in the global economic
Under-the-radar bullish trend suggests the global economy is turning a corner Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: stephanie landsman
Keywords: news, cnbc, companies, suggests, thats, bullish, economy, inflation, undertheradar, going, commodity, turning, corner, positive, prices, industrial, economic, trend, global, achuthan


Under-the-radar bullish trend suggests the global economy is turning a corner

Economic forecaster Lakshman Achuthan is seeing signs of a global growth comeback in an under-the-radar trend.

He’s finding industrial commodity prices are starting to firm up and about to turn positive — a signal that demand is returning.

“It’s less negative. It’s not even positive inflation yet. But the vector here is everything, especially in the context of the global industrial growth upturn,” the Economic Cycle Research Institute co-founder told CNBC’s “Trading Nation” on Wednesday.

He’s building his case on a chart of commodity price inflation. It tracks industrial materials including oil, steel, iron, nickel, textiles and some building supplies.

“You see that long suffering of the decline in global industrial commodity inflation over the last couple of years,” said Achuthan. “That’s come to a close. That’s kind of a game changer if you’re a global industrial company.”

He began noticing sluggishness in commodity industrial prices in the first half of last year.

Now, he’s close to calling a rebound not only in the global economy, but in the United States, too.

According to Achuthan, a U.S. manufacturing comeback could be as little as a month or two away following five straight months of contraction.

“In fairly short order, those things are going to start to bottom out,” he added.

On a bigger scale, Achuthan’s call also signals he’s turning more positive overall. He has been in the global economic slowdown camp since June 2018.

However, the turnaround may come with an unwelcome side effect. Achuthan warns that consumer spending, which he believes is decelerating, could face more pressure.

“If we stick with commodity price inflation for a second, for consumers the main one is going to be energy,” Achuthan said. “That is on the margin a negative and is going to crimp discretionary spending.”

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Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: stephanie landsman
Keywords: news, cnbc, companies, suggests, thats, bullish, economy, inflation, undertheradar, going, commodity, turning, corner, positive, prices, industrial, economic, trend, global, achuthan


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Regional banking stocks look like a buy if they drop to this level, chart indicates

The big banks have wrapped up their earnings, and Wall Street looks ahead to the regional banks reporting in coming days. The KRE regional banking ETF has bounced nearly 20% off an August low, though it has begun to ease back. The KRE ETF was trading at $57.27 midday Thursday. Tengler instead gets financials exposure through the big banks, including J.P. Morgan, BlackRock, Morgan Stanley and Goldman Sachs. Disclosure: Laffer Tengler Investments holds J.P. Morgan, BlackRock, Morgan Stanley and Go


The big banks have wrapped up their earnings, and Wall Street looks ahead to the regional banks reporting in coming days.
The KRE regional banking ETF has bounced nearly 20% off an August low, though it has begun to ease back.
The KRE ETF was trading at $57.27 midday Thursday.
Tengler instead gets financials exposure through the big banks, including J.P. Morgan, BlackRock, Morgan Stanley and Goldman Sachs.
Disclosure: Laffer Tengler Investments holds J.P. Morgan, BlackRock, Morgan Stanley and Go
Regional banking stocks look like a buy if they drop to this level, chart indicates Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: keris lahiff
Keywords: news, cnbc, companies, look, stocks, indicates, buy, group, morgan, drop, kre, banks, looks, etf, chart, level, regional, banking, think, tengler, going


Regional banking stocks look like a buy if they drop to this level, chart indicates

The big banks have wrapped up their earnings, and Wall Street looks ahead to the regional banks reporting in coming days.

Regions Financial, First Horizon National and Citizens Financial Group are set to release quarterly results on Friday, while Zions, Old National Bancorp, Comerica and Pinnacle Financial are scheduled for next week.

The group heads into those earnings in good shape. The KRE regional banking ETF has bounced nearly 20% off an August low, though it has begun to ease back. Matt Maley, chief market strategist at Miller Tabak, called the rally.

“We turned bullish on the bank stocks back in August when our work showed that the long-term interest rates were going to rally, were going to bounce and the bank stocks did rally in the mid-December, got a little overbought and are starting to pull back,” Maley said on CNBC’s “Trading Nation” on Wednesday.

“One of the reasons I’m bullish is I do think that the Fed, the ECB and the BOJ, all these central banks, one of their goals for this year is to steepen the yield curve, and that’s going to be very bullish for the banks,” said Maley.

He added that a decent entry point to the group would present itself if the ETF moved back down to the $55 level.

“That would be its December lows, and its trend line from August, that should provide some excellent support for the KRE and should provide a good opportunity to get back into the group,” said Maley.

The KRE ETF was trading at $57.27 midday Thursday.

Nancy Tengler, CIO at Laffer Tengler Investments, sees signs of more trouble for the group.

“U.S. Bancorp reported [Wednesday] and kind of confirmed our fears — we happen to own the stock unfortunately — that the regionals are getting squeezed a little bit, the rate cuts hurt them. Even the steepening yield curve in the fourth quarter didn’t really help much and they’re guiding lower for their interest income in 2020,” Tengler said during the same segment.

Tengler instead gets financials exposure through the big banks, including J.P. Morgan, BlackRock, Morgan Stanley and Goldman Sachs.

“If you’re going to play the group and I think it looks super interesting in here, you do want to do it through an ETF like the KRE because you don’t want to take this specific stock risk that you’re going to get from management teams at the regional banks and the small ones in particular, so I think it looks interesting. I’d let it go through earnings season and then pick it up after that,” said Tengler.

Disclosure: Laffer Tengler Investments holds J.P. Morgan, BlackRock, Morgan Stanley and Goldman Sachs.

Disclaimer


Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: keris lahiff
Keywords: news, cnbc, companies, look, stocks, indicates, buy, group, morgan, drop, kre, banks, looks, etf, chart, level, regional, banking, think, tengler, going


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Mnuchin says China trade war ‘absolutely’ worth it even if a phase one deal is all the US gets

Treasury Secretary Steven Mnuchin believes the U.S. trade war with China will have been worth it even if an incomplete deal is all that is reached. He described the administration’s view of economic policy to explain why he thinks the phase one deal is good enough to have been worth the trade war. We now have USMCA that’s going to pass the Senate this week, we have China phase one, there’s a deal with Japan, a deal with Korea – these are all going to have significantly positive effects on the 20


Treasury Secretary Steven Mnuchin believes the U.S. trade war with China will have been worth it even if an incomplete deal is all that is reached.
He described the administration’s view of economic policy to explain why he thinks the phase one deal is good enough to have been worth the trade war.
We now have USMCA that’s going to pass the Senate this week, we have China phase one, there’s a deal with Japan, a deal with Korea – these are all going to have significantly positive effects on the 20
Mnuchin says China trade war ‘absolutely’ worth it even if a phase one deal is all the US gets Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-15  Authors: michael sheetz
Keywords: news, cnbc, companies, going, mnuchin, trump, absolutely, war, trade, phase, worth, china, week, president, deal, gets, economy


Mnuchin says China trade war 'absolutely' worth it even if a phase one deal is all the US gets

Treasury Secretary Steven Mnuchin believes the U.S. trade war with China will have been worth it even if an incomplete deal is all that is reached.

“Absolutely,” Mnuchin said, in response to being asked on CNBC’s “Squawk Box” on Wednesday whether he thought the “phase one” agreement was enough to make the protracted dispute valuable to the U.S.

Mnuchin has been one of President Donald Trump’s lead negotiators during talks with the Chinese. He described the administration’s view of economic policy to explain why he thinks the phase one deal is good enough to have been worth the trade war.

“Look at the President’s economic plan: The economy is performing because it was all about tax cuts, regulatory relief and trade. We now have USMCA that’s going to pass the Senate this week, we have China phase one, there’s a deal with Japan, a deal with Korea – these are all going to have significantly positive effects on the 2020 economy,” Mnuchin said.

Trump and China’s Vice Premier Liu He are expected to sign the phase one deal at the White House on Wednesday. While Trump said last week his administration will begin negotiating the next part of the trade deal “right away,” the president also said he may “wait to finish ’til after the election.”

“Because by doing that, I think we can actually make a little bit better deal, maybe a lot better deal,” Trump said last Thursday.


Company: cnbc, Activity: cnbc, Date: 2020-01-15  Authors: michael sheetz
Keywords: news, cnbc, companies, going, mnuchin, trump, absolutely, war, trade, phase, worth, china, week, president, deal, gets, economy


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Blackstone’s Byron Wien sees 3 things keeping the stock market rally going in 2020

The S&P 500 at 3,500 would be 6.6% higher than Tuesday’s close. In his “Ten Surprises,” Wien wrote that volatility will increase and there will be “several market corrections greater than 5% throughout the year.” On “Squawk on the Street,” shortly before the U.S.-China signing of their initial trade deal, Wien said, “The phase one deal is without question a positive.” However, he said he does not expect a “phase two” deal before this year’s November presidential election. So far, about 30 compan


The S&P 500 at 3,500 would be 6.6% higher than Tuesday’s close.
In his “Ten Surprises,” Wien wrote that volatility will increase and there will be “several market corrections greater than 5% throughout the year.”
On “Squawk on the Street,” shortly before the U.S.-China signing of their initial trade deal, Wien said, “The phase one deal is without question a positive.”
However, he said he does not expect a “phase two” deal before this year’s November presidential election.
So far, about 30 compan
Blackstone’s Byron Wien sees 3 things keeping the stock market rally going in 2020 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-15  Authors: jessica bursztynsky
Keywords: news, cnbc, companies, wien, week, surprises, market, byron, keeping, blackstones, trade, going, phase, companies, stock, deal, things, 500, rally, sees


Blackstone's Byron Wien sees 3 things keeping the stock market rally going in 2020

Blackstone Vice Chairman Byron Wien told CNBC on Wednesday that he believes the stock market will continue to rally this year with the support of three things — the “phase one” China trade deal, easing of U.S.-Iran hostilities and expectations for stronger corporate earnings.

The longtime market strategist said he’s sticking to his 3,500 year-end target for the S&P 500 that he put on his annual list of “Ten Surprises for 2020,” which was released last week. The S&P 500 at 3,500 would be 6.6% higher than Tuesday’s close.

In his “Ten Surprises,” Wien wrote that volatility will increase and there will be “several market corrections greater than 5% throughout the year.”

On “Squawk on the Street,” shortly before the U.S.-China signing of their initial trade deal, Wien said, “The phase one deal is without question a positive.”

However, he said he does not expect a “phase two” deal before this year’s November presidential election.

In the first-step agreement between the world’s two largest economies, China promises to purchase some $200 billion of American goods over two years and to make changes to its intellectual property and technology rules.

A deescalation of tensions between the U.S. and Iran is a second positive for Wall Street, Wien said. On Jan. 8, President Donald Trump’s statement that Iran “appears to be standing down,” after it had fired missiles at bases in Iraq housing U.S. troops, sent stocks higher. Tehran was retaliating for the U.S. killing of the top Iranian general at the Baghdad airport on Jan. 3.

As the third thing that traders are watching, Wien predicts that earnings being on track, or coming in better than expected, would boost the market.

So far, about 30 companies in the S&P 500 have released their quarterly results. And of those companies, 82% have posted better-than-expected profits, according to FactSet data. Among the companies beating profit estimates this week were J.P. Morgan Chase, Citigroup and Bank of America.

— CNBC’s Fred Imbert and Pippa Stevens contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2020-01-15  Authors: jessica bursztynsky
Keywords: news, cnbc, companies, wien, week, surprises, market, byron, keeping, blackstones, trade, going, phase, companies, stock, deal, things, 500, rally, sees


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