China exports fall for fourth consecutive month as Beijing demands tariff rollback as part of trade deal

Chinese Vice Premier and lead trade negotiator Liu He, right, reaches to shake hands with U.S. Trade Representative Robert Lighthizer before the opening session of trade negotiations at the Diaoyutai State Guesthouse in Beijing, Thursday, Feb. 14, 2019. China’s exports in November shrank for the fourth consecutive month, underscoring persistent pressures on manufacturers from the Sino-U.S. trade war but growth in imports may be a sign that Beijing’s stimulus steps are helping to stoke demand. Ov


Chinese Vice Premier and lead trade negotiator Liu He, right, reaches to shake hands with U.S. Trade Representative Robert Lighthizer before the opening session of trade negotiations at the Diaoyutai State Guesthouse in Beijing, Thursday, Feb. 14, 2019.
China’s exports in November shrank for the fourth consecutive month, underscoring persistent pressures on manufacturers from the Sino-U.S. trade war but growth in imports may be a sign that Beijing’s stimulus steps are helping to stoke demand.
Ov
China exports fall for fourth consecutive month as Beijing demands tariff rollback as part of trade deal Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-08
Keywords: news, cnbc, companies, month, billion, stimulus, demands, deal, earlier, exports, fall, consecutive, showed, compared, trade, growth, rollback, tariff, poll, surplus, fourth


China exports fall for fourth consecutive month as Beijing demands tariff rollback as part of trade deal

Chinese Vice Premier and lead trade negotiator Liu He, right, reaches to shake hands with U.S. Trade Representative Robert Lighthizer before the opening session of trade negotiations at the Diaoyutai State Guesthouse in Beijing, Thursday, Feb. 14, 2019.

China’s exports in November shrank for the fourth consecutive month, underscoring persistent pressures on manufacturers from the Sino-U.S. trade war but growth in imports may be a sign that Beijing’s stimulus steps are helping to stoke demand.

The 17-month long trade dispute has heightened the risks of a global recession and fueled speculation that China’s policymakers could unleash more stimulus as growth in the world’s second-largest economy cooled to nearly 30-year lows.

Overseas shipments fell 1.1% from a year earlier last month, customs data showed on Sunday, compared with a 1.0% expansion tipped by a Reuters poll of analysts and a 0.9% drop in October.

Imports unexpectedly rose 0.3% from a year earlier, marking the first year-on-year growth since April and compared with a 1.8% decline forecast by economists.

The better-than-expected import data may point to firming domestic demand after factory activity showed surprising signs of improvement recently, although analysts have noted the recovery could be difficult to sustain amid trade risks.

China’s trade surplus for November stood at $38.73 billion, compared with an expected $46.30 billion surplus in the poll and a $42.81 billion surplus recorded in October.


Company: cnbc, Activity: cnbc, Date: 2019-12-08
Keywords: news, cnbc, companies, month, billion, stimulus, demands, deal, earlier, exports, fall, consecutive, showed, compared, trade, growth, rollback, tariff, poll, surplus, fourth


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Wall Street bets international stocks will top US equities in 2020 after a decade-long slump

Several investors and strategists are betting on international stocks outperforming the U.S. in the new year, something that has only happened twice since 2010. “A reacceleration in global growth, a weaker US dollar, and favorable valuations should all support non-US stocks next year.” Callum Thomas, head of research at Topdown Charts, notes there is a “50% valuation gap” between U.S. and international stocks. These moves could spur a resurgence in global economic growth, which would “disproport


Several investors and strategists are betting on international stocks outperforming the U.S. in the new year, something that has only happened twice since 2010.
“A reacceleration in global growth, a weaker US dollar, and favorable valuations should all support non-US stocks next year.”
Callum Thomas, head of research at Topdown Charts, notes there is a “50% valuation gap” between U.S. and international stocks.
These moves could spur a resurgence in global economic growth, which would “disproport
Wall Street bets international stocks will top US equities in 2020 after a decade-long slump Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-07  Authors: fred imbert
Keywords: news, cnbc, companies, valuation, growth, bets, stocks, wall, global, international, equities, msci, index, street, economic, slump, europe, decadelong, 2020


Wall Street bets international stocks will top US equities in 2020 after a decade-long slump

A pedestrian walks past a stock indicator displaying numbers of the Tokyo Stock Exchange and the world’s major markets in Tokyo. Kazuhiro Nogi | AFP | Getty Images

(This story is part of the Weekend Brief edition of the Evening Brief newsletter. To sign up for CNBC’s Evening Brief, click here.) U.S. equities have been the best place to invest during the past 10 years, but that dominance could shift in 2020. Several investors and strategists are betting on international stocks outperforming the U.S. in the new year, something that has only happened twice since 2010. U.S. stocks have blown their international counterparts out of the water in that time. The S&P 500 is up more than 180% and the MSCI ACWI ex U.S. exchange-traded fund (ACWX) has gained just 18% since 2010. Emerging markets have fared even worse this decade against the S&P 500. The iShares MSCI Emerging Market Index is up just 4% since 2010. However, market experts think international stocks are poised for a comeback in 2020 versus the U.S. due to attractive valuations and a potential trough in global economic growth as world central banks take up more stimulative measures. “Having underperformed for more than ten years, non-US stocks are set to gain the upper hand over their US peers,” Peter Berezin, chief global strategist at BCA Research, said in a note. “A reacceleration in global growth, a weaker US dollar, and favorable valuations should all support non-US stocks next year.”

Valuation favors international

The S&P 500’s price-to-earnings ratio, a widely used valuation metric on Wall Street, currently sits above 20. That’s the average’s richest valuation since August 2018. That high valuation follows the S&P 500 hitting all-time highs despite a year-over-year earnings decline. International stocks, however, are trading at a much lower valuation. Through Friday’s close, the ACWI fund’s price-to-earnings ratio rested around 14.7. Callum Thomas, head of research at Topdown Charts, notes there is a “50% valuation gap” between U.S. and international stocks. “Yes global ex-US has its problems, but are they 50% discount problems? At a certain point if the valuation gap is wide enough it kind of starts to speak for itself,” he said in a note. This wide valuation gap comes as global economic growth has slowed down while the U.S. economy keeps humming. Last week, the Commerce Department said U.S. GDP expanded by 2.1% in the third quarter. Economies around the world, meanwhile, have been stuck in the mud as manufacturing activity falls and trade conditions tighten. In Europe, manufacturing activity hit a seven-year low in October. It rebounded slightly in November but remained in contraction territory, data from IHS Markit showed. On the trade front, the U.S.-China conflict continues as both sides try to sign a so-called phase one deal. President Donald Trump also said Monday the U.S. will restore tariffs on metal imports from Brazil and Argentina. These factors, however, have led global central banks to ease monetary policy. The European Central Bank launched a new bond-buying program earlier this year. The People’s Bank of China lowered its short-term funding rate for the first time since 2015 last month, and the Bank of Japan has kept monetary policy easy throughout 2019.

Global economic rebound?

The trade tensions between China and the U.S. have eased slightly in recent months as both sides show they are willing to reach some sort of deal. These moves could spur a resurgence in global economic growth, which would “disproportionately benefit” international stocks relative to the U.S., BCA’s Berezin said. “The sector composition of international stocks is more skewed towards cyclicals than defensives compared to US stocks,” Berezin said. “As a result, non-US stocks generally outperform their US peers when global growth accelerates.” To be sure, global stocks may be pricing in these scenarios already. Mike Wilson, chief U.S. equity strategy at Morgan Stanley, said the MSCI All-Country World Index — which measures the performance of global stocks including the U.S. — has already produced returns that are “meaningfully higher” since hitting its December 2018 lows. “That is consistent with a bottoming in global economic growth, meaning that markets are sending a signal about the turn in growth and pricing it in many cases,” Wilson said.

What to buy overseas

Wilson recommends investors buy into Japanese and Korean stocks in 2020. He also has an underweight rating on U.S. stocks heading into next year. The iShares MSCI Japan ETF (EWJ) is up more than 18% this year, on pace for its biggest annual gain since 2017. The ETF rose 22.7% that year. Japan’s Nikkei 225 index is also up 16.4% for 2019. Korean stocks, however, have not fared nearly as well this year. The iShares MSCI South Korea ETF (EWY) is down more than 2% for 2019, and the main stock index, the Kospi, is barely up year to date. Europe is another international market eyed by experts heading into 2020. Stocks in the continent are on pace for their biggest annual gain since 2009, when they surged 28%. The Stoxx 600 index, which tracks a broad number of European stocks, is up 19.3% in 2019. Cameron Brandt, director of research at EPFR, said money flows into European assets are “certainly indicating that all the bad news in Europe has been priced in.” “Given that the ECB is back in full backstop mode, and that Europe has a lot of dry powder in terms of fiscal stimulus … it’s probably fair to say the greatest potential for upside next year may be in Europe,” Brandt said. Within Europe, one market that could see further upside in 2020 is Germany, said Nuveen’s Brian Nick. The German Dax has rallied more than 20% in 2019 and is headed for its biggest one-year gain since 2013. “If we get a stabilization in growth in 2020, the internationally oriented countries should do a bit better, especially if China looks a little more solid as it seems to,” the firm’s chief investment strategist said. “Those two economies are more closely tied together than the U.S. is to either of those.”

Buy international for the new decade?


Company: cnbc, Activity: cnbc, Date: 2019-12-07  Authors: fred imbert
Keywords: news, cnbc, companies, valuation, growth, bets, stocks, wall, global, international, equities, msci, index, street, economic, slump, europe, decadelong, 2020


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Here are some of the best analyst calls of the week on Wall Street including PayPal, WWE

Here are some of the best analyst calls on Wall Street this week:MKM – World Wrestling Entertainment, buy ratingMKM reiterated its buy rating on World Wrestling Entertainment this week. The analyst said the company has the “best multi-year growth potential” within the firm’s media and entertainment universe. “A series of meetings we hosted last week with WWE management reinforced our view the company has the best multi-year growth potential within our Media & Entertainment universe. “We also exp


Here are some of the best analyst calls on Wall Street this week:MKM – World Wrestling Entertainment, buy ratingMKM reiterated its buy rating on World Wrestling Entertainment this week.
The analyst said the company has the “best multi-year growth potential” within the firm’s media and entertainment universe.
“A series of meetings we hosted last week with WWE management reinforced our view the company has the best multi-year growth potential within our Media & Entertainment universe.
“We also exp
Here are some of the best analyst calls of the week on Wall Street including PayPal, WWE Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-07  Authors: michael bloom
Keywords: news, cnbc, companies, company, including, paypal, sales, best, entertainment, mondelez, growth, wall, week, online, wwe, street, analyst, amazon, calls


Here are some of the best analyst calls of the week on Wall Street including PayPal, WWE

World Wrestling Entertainment Inc. Chairman Vince McMahon (L) and wrestler Triple H appear in the ring during the WWE Monday Night Raw show at the Thomas & Mack Center August 24, 2009 Ethan Miller | Getty Images Entertainment | Getty Images

(This story is part of the Weekend Brief edition of the Evening Brief newsletter. To sign up for CNBC’s Evening Brief, .) Here are some of the best analyst calls on Wall Street this week:

MKM – World Wrestling Entertainment, buy rating

MKM reiterated its buy rating on World Wrestling Entertainment this week. The analyst said the company has the “best multi-year growth potential” within the firm’s media and entertainment universe. The company is also armed with a brand new television contract and international deals, which the firm expects to lead to accelerated subscriber growth. “A series of meetings we hosted last week with WWE management reinforced our view the company has the best multi-year growth potential within our Media & Entertainment universe. WWE is at a financial inflection point with its new, five-year domestic TV rights contract for Raw and Smackdown having commenced this quarter and its largest international deals beginning in 1Q20. Furthermore, the WWE Network is repositioned for a reacceleration in subscriber growth as a result of multiple new initiatives planned over the coming year. … 2020-2024 has multiple catalysts with sizable potential.”

Cowen – AstraZeneca, outperform & top pick for 2020

Cowen named AstraZeneca a top pick for 2020 this week and said the multinational pharmaceutical company has all the “attributes” need to be a “top” performer next year. In addition, the analyst says the company has “low relative exposure” to the U.S. and is “less vulnerable” to election rhetoric. The firm also said the company has “opportunity for upside” and many “promising” new products in the pipeline. “AZN product momentum and high relative growth are not unrecognized. However, drug stocks with these characteristics can outperform for extended periods as management executes, and there is opportunity for upside as forecasts are below AZN guidance/ambitions. Low relative exposure to U.S. makes AZN less vulnerable to election rhetoric. These attributes should drive AZN to top performance in 2020.”

Craig-Hallum- PayPal, buy rating

PayPal is aiding retailers that are making the necessary technology investment to help better compete against Amazon, according to Craig-Hallum. While the analyst says Amazon is still the dominant online retailer he also said that the e-commerce giant doesn’t have the “lock” on online sales that is often believed. The analyst also points out that according to reports, Walmart and Target are growing faster in eCommerce this year than Amazon. Craig-Hallum said PayPal can take advantage of the fact that non-Amazon retailers’ accept the company’s payment while Amazon doesn’t. “We also expect PayPal to benefit from non-Amazon retailers’ significant investment in online sales and digitally originated sales capabilities that more effectively compete against Amazon than in years past. This year we have seen WMT and TGT both growing their e-Commerce sales growing significantly faster than Amazon’s 1st party sales. A number of sources have shown online social media mentions putting BBY, WMT and TGT right in the mix with AMZN and retail experts noting they are well positioned. We believe that not all investors fully appreciate that increased disclosures by Amazon this year caused online sales market share estimates to be revised to 38% from 47% by eMarketer. While still the dominant online retailer, Amazon does not have the lock on online sales that is often perceived.”

Bernstein – Mondelez, outperform rating

Bernstein laid out it’s “Blue-Sky” scenario for Mondelez in a note to clients this week. The firm called the multinational food and beverage holding company a “solid standalone” investment and said it sees a $78 stock in three years. Bernstein said the company has a large exposure to the “faster-growing” snacking category and also believes a merger with Pepsi’s snack business would be a winning combination. “Mondelez represents a solid standalone investment. With ~80% exposure to the faster-growing snacking category and close to 40% of sales in emerging markets, Mondelez has the potential to grow the top-line at ~4% based on its category and geographic exposures. Meanwhile, adding deal-making to the equation could represent additional upside for Mondelez. Should Mondelez’s sales momentum taper off as it faces tougher comps in FY20, this could attract renewed interest from activist investors, who may push for a combination of Mondelez and Pepsi’s snack business to unlock additional value for shareholders.”

Canaccord Genuity – Penumbra, buy rating


Company: cnbc, Activity: cnbc, Date: 2019-12-07  Authors: michael bloom
Keywords: news, cnbc, companies, company, including, paypal, sales, best, entertainment, mondelez, growth, wall, week, online, wwe, street, analyst, amazon, calls


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German industry slump sparks renewed growth fears

Germany’s industrial output unexpectedly dropped in October, reviving worries about its economic growth outlook as its manufacturing backbone is hurt by global trade conflicts and disruption in the auto sector. Industrial output dropped 1.7% on the month against expectations for a 0.1% rise, Statistics Office figures showed on Friday. Production of capital goods slumped by 4.4% on the month, the steepest decline in more than five years. “Now the trepidation starts again about GDP growth in the f


Germany’s industrial output unexpectedly dropped in October, reviving worries about its economic growth outlook as its manufacturing backbone is hurt by global trade conflicts and disruption in the auto sector.
Industrial output dropped 1.7% on the month against expectations for a 0.1% rise, Statistics Office figures showed on Friday.
Production of capital goods slumped by 4.4% on the month, the steepest decline in more than five years.
“Now the trepidation starts again about GDP growth in the f
German industry slump sparks renewed growth fears Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-06
Keywords: news, cnbc, companies, worries, economy, trade, sparks, growth, fears, gdp, dropped, weaken, yearseuropes, output, german, renewed, month, slump, industry


German industry slump sparks renewed growth fears

Germany’s industrial output unexpectedly dropped in October, reviving worries about its economic growth outlook as its manufacturing backbone is hurt by global trade conflicts and disruption in the auto sector.

Industrial output dropped 1.7% on the month against expectations for a 0.1% rise, Statistics Office figures showed on Friday. Production of capital goods slumped by 4.4% on the month, the steepest decline in more than five years.

Europe’s biggest economy is going through a soft patch as its export-oriented manufacturers struggle against a backdrop of trade friction, an ailing car industry and uncertainties over Britain’s planned departure from the European Union.

“Now the trepidation starts again about GDP growth in the final quarter,” said Jens-Oliver Niklasch, economist at Landesbank Baden-Wuerttemberg.

In its 10th successive year of growth, the economy has been relying on strong consumption as exports weaken, which resulted in a second-quarter GDP contraction of 0.2%.


Company: cnbc, Activity: cnbc, Date: 2019-12-06
Keywords: news, cnbc, companies, worries, economy, trade, sparks, growth, fears, gdp, dropped, weaken, yearseuropes, output, german, renewed, month, slump, industry


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US Jobs Report November 2019: 266,000 payrolls added, 3.5% unemployment

The jobs growth was the best since January’s 312,000 and well clear of the November 2018 total of 196,000. The jobs market turned in a stellar performance in November, with nonfarm payrolls surging by 266,000 and the unemployment rate falling to 3.5%, according to Labor Department numbers released Friday. “The unemployment rate is at a 50-year low and wages are increasing. The unemployment rate of 3.5%, down from 3.6% in October, is back to the 2019 low and matches the lowest jobless rate since


The jobs growth was the best since January’s 312,000 and well clear of the November 2018 total of 196,000.
The jobs market turned in a stellar performance in November, with nonfarm payrolls surging by 266,000 and the unemployment rate falling to 3.5%, according to Labor Department numbers released Friday.
“The unemployment rate is at a 50-year low and wages are increasing.
The unemployment rate of 3.5%, down from 3.6% in October, is back to the 2019 low and matches the lowest jobless rate since
US Jobs Report November 2019: 266,000 payrolls added, 3.5% unemployment Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-06  Authors: jeff cox, fred imbert
Keywords: news, cnbc, companies, 2019, added, 266000, rate, gains, market, payrolls, economy, growth, unemployment, report, jobs, steady, rose, recession


US Jobs Report November 2019: 266,000 payrolls added, 3.5% unemployment

The jobs growth was the best since January’s 312,000 and well clear of the November 2018 total of 196,000. While hopes already were up, much of that was based on the return of General Motors workers following a lengthy strike. That dynamic indeed boosted employment in motor vehicles and parts by 41,300, part of an overall 54,000 gain in manufacturing. The vehicles and parts sector had fallen by 42,800 in October.

“Bottom line, America is working,” Larry Summers, director of the National Economic Council, told CNBC’s ” Squawk on the Street .” “These are very strong numbers. These are happy numbers, these are sunny Friday numbers.”

Those totals easily beat the Wall Street consensus. Economists surveyed by Dow Jones had been looking for solid job growth of 187,000 and saw the unemployment rate holding steady from October’s 3.6%. The decline in November’s jobless rate came amid a corresponding 0.1 percentage point drop in the labor force participation rate, to 63.2%.

The jobs market turned in a stellar performance in November, with nonfarm payrolls surging by 266,000 and the unemployment rate falling to 3.5%, according to Labor Department numbers released Friday.

However, the job gains were spread among a multitude of sectors. Health care added 45,000 positions after contributing just 12,000 in October.

Leisure and hospitality increased by 45,000 and professional and business services rose by 31,000; the two sectors respectively are up 219,000 and 278,000 over the past 12 months. Wage gains also were a touch better than expectations.

Average hourly earnings rose by 3.1% from a year ago, while the average workweek held steady at 34.4 hours.

Economists had been looking for wage gains of 3%. A separate gauge of unemployment that includes discouraged workers and the underemployed declined as well, falling to 6.9%, one-tenth of a percentage point below October.

In addition to the robust November gains, revisions brought up totals from the two previous months. September’s estimate went up 13,000 to 193,000 and the initial October count increased by 28,000 to 156,000. Those changes added 41,000 to the previous tallies and brought the 2019 monthly average to 180,000, compared with 223,000 in 2018.

“This is a blowout number and the U.S. economy continues to be all about the jobs,” Tony Bedikian, head of global markets for Citizens Bank said in a note. “The unemployment rate is at a 50-year low and wages are increasing. Business owners may be getting more cautious due to trade and political uncertainty and growth may be slow, but consumers keep spending and the punch bowl still seems full.”

The unemployment rate of 3.5%, down from 3.6% in October, is back to the 2019 low and matches the lowest jobless rate since 1969. The U.S. economy needs to create about 107,000 jobs a month to keep the unemployment rate steady, according to calculations from the Atlanta Federal Reserve.

“Today’s job report, more than any other report in recent months, squashed any lingering concerns about an imminent recession in the US economy,” said Gad Levanon, head of the Conference Board’s Labor Market Institute. “Employment growth also shows no signs of slowing further despite the historically low unemployment rate.”

The news was not all good. As the holiday shopping season accelerated, retail companies added just 2,000 net hires as gains in general merchandise of 22,000 and motor vehicle and parts dealers of 8,000 were offset by an 18,000 loss in clothing and clothing accessories.

Mining also showed a loss of 7,000 positions, bringing to 19,000 the total jobs lost since May.

The strong jobs report comes amid a challenging year for the U.S. economy. Recession fears surged in late-summer amid worries that a global slowdown would spread to American shores. The back-and-forth lobbing of tariffs between the U.S. and China also raised fears of instability, and the bond market sent what has been a reliable recession indicator when short-term government yields rose above their longer-term counterparts. The Fed reacted by cutting its benchmark interest rate three times, part of what officials deemed insurance against a potential slowdown.

Those recession fears have ebbed recently, though, as consumer and business sentiment remains high, spending remains resilient and the stock market scales new highs.

The Fed meets next week, and officials have been clear that they plan no further rate changes unless conditions change significantly.


Company: cnbc, Activity: cnbc, Date: 2019-12-06  Authors: jeff cox, fred imbert
Keywords: news, cnbc, companies, 2019, added, 266000, rate, gains, market, payrolls, economy, growth, unemployment, report, jobs, steady, rose, recession


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CIBC Private Wealth: In a volatile 2020, these sectors can climb

Stocks have performed strongly heading into the new year, maintaining their notable year-to-date gains despite starting December on a downbeat note. The S&P 500 is up over 24% for 2019 as of Thursday’s close, on pace for its best annual performance since 2013. We think the bull market will a year from now … still be in a bull market, although we don’t expect nearly the sort of gains for the S&P certainly that we’re seeing this year.” “The consensus estimates are for 9 or 10% operating earnings


Stocks have performed strongly heading into the new year, maintaining their notable year-to-date gains despite starting December on a downbeat note.
The S&P 500 is up over 24% for 2019 as of Thursday’s close, on pace for its best annual performance since 2013.
We think the bull market will a year from now … still be in a bull market, although we don’t expect nearly the sort of gains for the S&P certainly that we’re seeing this year.”
“The consensus estimates are for 9 or 10% operating earnings
CIBC Private Wealth: In a volatile 2020, these sectors can climb Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-06  Authors: lizzy gurdus
Keywords: news, cnbc, companies, cibc, private, volatile, sectors, 2020, growth, donabedian, seeing, bull, wealth, climb, earnings, market, think, starting


CIBC Private Wealth: In a volatile 2020, these sectors can climb

Investors are starting to get 2020 vision.

Stocks have performed strongly heading into the new year, maintaining their notable year-to-date gains despite starting December on a downbeat note. The S&P 500 is up over 24% for 2019 as of Thursday’s close, on pace for its best annual performance since 2013.

Now, buyers are shifting their attention to the pivotal year ahead, one that will likely see a heated race for the White House along with potential developments in the U.S.-China trade dispute that has been weighing on markets for the better part of two years.

Dave Donabedian, chief investment officer for CIBC Private Wealth Management, said Wall Street is likely to get “a continuation” of the not-too-strong, not-too-weak macroeconomic backdrop that has paved the way for stocks to climb for much of 2019.

Between “mediocre economic growth, low inflation, low interest rates [and] easy money from global central banks,” much of next year’s setup will be similar to this year’s — with a few exceptions, Donabedian said Thursday on CNBC’s “Trading Nation.”

“The one thing I think will be different, and a positive, is I think we’ll see some earnings growth next year whereas we’re really not seeing any in 2019,” Donabedian said. “So, we do think there’s upside for the market next year. We think the bull market will a year from now … still be in a bull market, although we don’t expect nearly the sort of gains for the S&P certainly that we’re seeing this year.”

Donabedian, whose firm handles approximately $59 billion in assets, said he is targeting a 6-8% total return for the S&P in 2020 based on what he expects to be 5% growth in operating earnings.

“We don’t see a lot of room for multiple expansion,” he said, adding that equity price increases will “have to be driven by earnings.”

“The consensus estimates are for 9 or 10% operating earnings growth. We think that’s too high,” Donabedian said. “Those estimates are already coming down. We think they’ll settle in probably in the 5 to 7% range, looking at some decent revenue growth and a little bit of productivity on top of that. But that earnings growth is really a necessary component if we’re going to continue to see the bull market extend through 2020.”


Company: cnbc, Activity: cnbc, Date: 2019-12-06  Authors: lizzy gurdus
Keywords: news, cnbc, companies, cibc, private, volatile, sectors, 2020, growth, donabedian, seeing, bull, wealth, climb, earnings, market, think, starting


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Zoom shares slide as growth slows

Zoom CEO Eric Yuan speaks at the Dropbox Work In Progress Conference in San Francisco on September 25, 2019. Shares of video conference software company Zoom initially rose but then fell as much as 11% after the company issued fiscal third-quarter earnings that surpassed estimates on Thursday, revealing slowing growth. Here are the key numbers:Earnings: Excluding certain items, 9 cents per share, vs. 3 cents per share as expected by analysts, according to Refinitiv. Excluding certain items, 9 ce


Zoom CEO Eric Yuan speaks at the Dropbox Work In Progress Conference in San Francisco on September 25, 2019.
Shares of video conference software company Zoom initially rose but then fell as much as 11% after the company issued fiscal third-quarter earnings that surpassed estimates on Thursday, revealing slowing growth.
Here are the key numbers:Earnings: Excluding certain items, 9 cents per share, vs. 3 cents per share as expected by analysts, according to Refinitiv.
Excluding certain items, 9 ce
Zoom shares slide as growth slows Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-05  Authors: jordan novet
Keywords: news, cnbc, companies, analysts, slide, growth, according, revenue, share, shares, slows, quarter, expected, zoom, company, cents


Zoom shares slide as growth slows

Zoom CEO Eric Yuan speaks at the Dropbox Work In Progress Conference in San Francisco on September 25, 2019.

Shares of video conference software company Zoom initially rose but then fell as much as 11% after the company issued fiscal third-quarter earnings that surpassed estimates on Thursday, revealing slowing growth.

Here are the key numbers:

Earnings: Excluding certain items, 9 cents per share, vs. 3 cents per share as expected by analysts, according to Refinitiv.

Excluding certain items, 9 cents per share, vs. 3 cents per share as expected by analysts, according to Refinitiv. Revenue: $166.6 million, vs. $154.9 million as expected by analysts, according to Refinitiv.

Zoom’s revenue increased 85% on an annualized basis in the third quarter of the company’s 2020 fiscal year, which ended on October 31, according to a statement. Last quarter, revenue growth was 96% from the previous year, falling below 100% for the first time in at least one year.

Zoom said it had 74,100 customers with over 10 employees at the end of the quarter, up 67% year over year. The growth rate in the prior quarter was 78%.

The company had 546 customers that were contributing over $100,000 in revenue over the trailing 12 months at the end of the quarter, up 97%. The percentage is down from 104% one quarter ago.


Company: cnbc, Activity: cnbc, Date: 2019-12-05  Authors: jordan novet
Keywords: news, cnbc, companies, analysts, slide, growth, according, revenue, share, shares, slows, quarter, expected, zoom, company, cents


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Global economy will recover in the second half of 2020, says UBS Global Wealth Management

Global growth will recover in the second half of 2020 as the trade war between Washington and Beijing eases and central banks’ monetary policies come into effect said Adrian Zuercher, APAC head of asset allocation at UBS Global Wealth Management’s Chief Investment Office. “There is a lot of fog around trade, influencing our forecast for economic growth,” Zuercher told CNBC’s “Street Signs” on Thursday. But while the environment is currently slow, he said global growth will see a “significant rec


Global growth will recover in the second half of 2020 as the trade war between Washington and Beijing eases and central banks’ monetary policies come into effect said Adrian Zuercher, APAC head of asset allocation at UBS Global Wealth Management’s Chief Investment Office.
“There is a lot of fog around trade, influencing our forecast for economic growth,” Zuercher told CNBC’s “Street Signs” on Thursday.
But while the environment is currently slow, he said global growth will see a “significant rec
Global economy will recover in the second half of 2020, says UBS Global Wealth Management Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-05  Authors: grace shao
Keywords: news, cnbc, companies, started, deal, growth, recover, 2020, management, half, zuercher, global, second, economy, sides, phase, ubs, wealth, trade


Global economy will recover in the second half of 2020, says UBS Global Wealth Management

Global growth will recover in the second half of 2020 as the trade war between Washington and Beijing eases and central banks’ monetary policies come into effect said Adrian Zuercher, APAC head of asset allocation at UBS Global Wealth Management’s Chief Investment Office.

“There is a lot of fog around trade, influencing our forecast for economic growth,” Zuercher told CNBC’s “Street Signs” on Thursday. Tariffs the U.S. and China have imposed on each other are among the firm’s “key risks,” said Zuercher.

But while the environment is currently slow, he said global growth will see a “significant recovery going into the second half of 2020, particularly in the fourth quarter.”

The two sides agreed to a “phase one” deal in October, but officials in Beijing say they don’t anticipate sitting down to discuss a “phase two” deal before the U.S. election, in part because they want to see if President Donald Trump wins a second term. Trump himself said Tuesday that it might be better to wait until after the 2020 election to strike a trade deal with China.

“We see that the U.S. economy has actually slowed down and we see a relatively good chance that there may be a first phase deal and maybe the December tariffs get pushed out or actually even removed. That should be good enough for the economy to slowly recover,” said Zuercher.

The next tariff deadline is Dec. 15 but it is still uncertain whether the two sides will pen an official agreement before that date. If the two sides cannot reach a deal by mid-December, then additional U.S. levies on Chinese exports will go into effect.

Since the world’s two largest economies started their trade war in early 2018, Asia has seen a downward trend, said Zuercher, but trade was not the only contributing factor to a global slowdown.

It was also during that time when central banks “started to remove some of the stimulus and started (to) actively to shrink balance sheet globally,” he said.

As 2019 comes to an end, Zuercher said central banks around the world have moved back “to printing money, expanding their balance sheets and lowering interest rates,” which will all have a positive influence on the world economy.


Company: cnbc, Activity: cnbc, Date: 2019-12-05  Authors: grace shao
Keywords: news, cnbc, companies, started, deal, growth, recover, 2020, management, half, zuercher, global, second, economy, sides, phase, ubs, wealth, trade


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Goldman upgrades Nike to buy: ‘On the cusp of a sharp acceleration’

Goldman Sachs upgraded Nike on Thursday and said it saw the company as a “unique asset” with China as a “key driver of growth.” The firm upgraded the company to buy from neutral and added the stock to its conviction buy list. Goldman also raised its price target to $112 from $95. Shares of Nike are up 2.30% to $95.88 in premarket trading. “We believe Nike is on the cusp of a sharp acceleration in EPS growth,” Goldman Sachs analyst Alexandra Walvis said.


Goldman Sachs upgraded Nike on Thursday and said it saw the company as a “unique asset” with China as a “key driver of growth.”
The firm upgraded the company to buy from neutral and added the stock to its conviction buy list.
Goldman also raised its price target to $112 from $95.
Shares of Nike are up 2.30% to $95.88 in premarket trading.
“We believe Nike is on the cusp of a sharp acceleration in EPS growth,” Goldman Sachs analyst Alexandra Walvis said.
Goldman upgrades Nike to buy: ‘On the cusp of a sharp acceleration’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-05  Authors: michael bloom
Keywords: news, cnbc, companies, nike, cusp, growth, china, acceleration, goldman, upgraded, sharp, firm, walvis, sachs, upgrades, company, buy


Goldman upgrades Nike to buy: 'On the cusp of a sharp acceleration'

Goldman Sachs upgraded Nike on Thursday and said it saw the company as a “unique asset” with China as a “key driver of growth.”

The firm upgraded the company to buy from neutral and added the stock to its conviction buy list. Goldman also raised its price target to $112 from $95.

Shares of Nike are up 2.30% to $95.88 in premarket trading.

“We believe Nike is on the cusp of a sharp acceleration in EPS growth,” Goldman Sachs analyst Alexandra Walvis said. The firm also said it sees earnings growing 19% annually over the next 3 years and that China should help accelerate that growth at “almost 3x the rate of other regions.”


Company: cnbc, Activity: cnbc, Date: 2019-12-05  Authors: michael bloom
Keywords: news, cnbc, companies, nike, cusp, growth, china, acceleration, goldman, upgraded, sharp, firm, walvis, sachs, upgrades, company, buy


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Goldman upgrades Nike to buy: ‘On the cusp of a sharp acceleration’

Goldman Sachs upgraded Nike on Thursday and said it saw the company as a “unique asset” with China as a “key driver of growth.” The firm upgraded the company to buy from neutral and added the stock to its conviction buy list. Goldman also raised its price target to $112 from $95. Shares of Nike are up 2.30% to $95.88 in premarket trading. “We believe Nike is on the cusp of a sharp acceleration in EPS growth,” Goldman Sachs analyst Alexandra Walvis said.


Goldman Sachs upgraded Nike on Thursday and said it saw the company as a “unique asset” with China as a “key driver of growth.”
The firm upgraded the company to buy from neutral and added the stock to its conviction buy list.
Goldman also raised its price target to $112 from $95.
Shares of Nike are up 2.30% to $95.88 in premarket trading.
“We believe Nike is on the cusp of a sharp acceleration in EPS growth,” Goldman Sachs analyst Alexandra Walvis said.
Goldman upgrades Nike to buy: ‘On the cusp of a sharp acceleration’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-05  Authors: michael bloom
Keywords: news, cnbc, companies, nike, cusp, growth, china, acceleration, goldman, upgraded, sharp, firm, walvis, sachs, upgrades, company, buy


Goldman upgrades Nike to buy: 'On the cusp of a sharp acceleration'

Goldman Sachs upgraded Nike on Thursday and said it saw the company as a “unique asset” with China as a “key driver of growth.”

The firm upgraded the company to buy from neutral and added the stock to its conviction buy list. Goldman also raised its price target to $112 from $95.

Shares of Nike are up 2.30% to $95.88 in premarket trading.

“We believe Nike is on the cusp of a sharp acceleration in EPS growth,” Goldman Sachs analyst Alexandra Walvis said. The firm also said it sees earnings growing 19% annually over the next 3 years and that China should help accelerate that growth at “almost 3x the rate of other regions.”


Company: cnbc, Activity: cnbc, Date: 2019-12-05  Authors: michael bloom
Keywords: news, cnbc, companies, nike, cusp, growth, china, acceleration, goldman, upgraded, sharp, firm, walvis, sachs, upgrades, company, buy


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