European stocks higher on China-US trade optimism

European shares traded higher Thursday morning, having touched a four-year high early in the session after China said the world’s two largest economies had agreed to cancel additional tariffs imposed in their months-long trade war. Commerce ministry spokesman Gao Feng said that the cancellation would be important for the two sides to reach a “phase one” trade deal, Reuters reported. Sources told Reuters on Wednesday that the signing of the long-awaited “phase one” deal could be delayed until Dec


European shares traded higher Thursday morning, having touched a four-year high early in the session after China said the world’s two largest economies had agreed to cancel additional tariffs imposed in their months-long trade war.
Commerce ministry spokesman Gao Feng said that the cancellation would be important for the two sides to reach a “phase one” trade deal, Reuters reported.
Sources told Reuters on Wednesday that the signing of the long-awaited “phase one” deal could be delayed until Dec
European stocks higher on China-US trade optimism Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-07  Authors: elliot smith chloe taylor, elliot smith, chloe taylor
Keywords: news, cnbc, companies, traded, higher, optimism, bank, rates, having, european, stocks, reports, mpc, chinaus, deal, shares, phase, trade


European stocks higher on China-US trade optimism

European shares traded higher Thursday morning, having touched a four-year high early in the session after China said the world’s two largest economies had agreed to cancel additional tariffs imposed in their months-long trade war.

The pan-European Stoxx 600 was up 0.25% by late morning, slightly paring earlier gains which saw the European blue chip index hit its highest point since July 2015. Bank stocks jumped 1.3% to lead gains while utilities slid 1.1%.

China’s Commerce Ministry said Thursday that Washington and Beijing had over the past two weeks agreed to a phased removal of duties on billions of dollars’ worth of each other’s goods.

Commerce ministry spokesman Gao Feng said that the cancellation would be important for the two sides to reach a “phase one” trade deal, Reuters reported.

Sources told Reuters on Wednesday that the signing of the long-awaited “phase one” deal could be delayed until December. Investors had been hoping that the preliminary deal, which could lift some pressure from the global economy, may be signed as early as this month.

According to reports, the location of a meeting where U.S. President Donald Trump and Chinese leader Xi Jinping would sign the deal has added an obstacle to proceedings. Reuters said Wednesday that London was now being floated as a possible venue.

Asian shares traded in mixed territory Thursday on the back of the earlier reports. MSCI’s broadest index of Asia-Pacific shares, excluding Japan, dipped 0.3%, with many of the region’s indexes hovering around the flatline.

Back in Europe, the EU trimmed its 2019 growth forecasts for the euro zone, projecting that GDP (gross domestic product) for the 19-member area will grow by 1.1% in 2019, having forecast 1.2% growth in July.

The Bank of England’s Monetary Policy Committee (MPC) is set to make a decision on interest rates on Thursday. The central bank is widely expected to keep rates steady ahead of the U.K.’s general election in December, having held rates at its last MPC meeting in September, bucking the rate-cutting trend seen among central banks globally.


Company: cnbc, Activity: cnbc, Date: 2019-11-07  Authors: elliot smith chloe taylor, elliot smith, chloe taylor
Keywords: news, cnbc, companies, traded, higher, optimism, bank, rates, having, european, stocks, reports, mpc, chinaus, deal, shares, phase, trade


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China starts development of 6G, having just turned on its 5G mobile network

China has officially launched research and development work for 6G mobile networks, having only just rolled out 5G. One group will consist of relevant government departments responsible for promoting how 6G research and development will be carried out. 5G refers to next-generation mobile networks that offer super-fast data speeds that promise to support technologies like driverless cars and virtual reality. China turned on its 5G networks earlier this month ahead of an initial 2020 schedule. To


China has officially launched research and development work for 6G mobile networks, having only just rolled out 5G.
One group will consist of relevant government departments responsible for promoting how 6G research and development will be carried out.
5G refers to next-generation mobile networks that offer super-fast data speeds that promise to support technologies like driverless cars and virtual reality.
China turned on its 5G networks earlier this month ahead of an initial 2020 schedule.
To
China starts development of 6G, having just turned on its 5G mobile network Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-07  Authors: arjun kharpal
Keywords: news, cnbc, companies, networks, having, starts, development, network, turned, offer, speeds, reality, research, china, mobile


China starts development of 6G, having just turned on its 5G mobile network

China has officially launched research and development work for 6G mobile networks, having only just rolled out 5G.

The Ministry of Science and Technology said in a statement posted Wednesday, that it will set up two working groups to carry out the task.

One group will consist of relevant government departments responsible for promoting how 6G research and development will be carried out. The other team will be made up of 37 universities, research institutes and enterprises, which will lay out the technical side of 6G and offer advice.

5G refers to next-generation mobile networks that offer super-fast data speeds that promise to support technologies like driverless cars and virtual reality. China turned on its 5G networks earlier this month ahead of an initial 2020 schedule.

To be clear, 5G is still in its infancy with most people around the world are still on 4G networks.

While there is a lot of hype around 5G, it is still unclear what kind of impact 5G might have on industries and consumer beyond fast download speeds in reality.


Company: cnbc, Activity: cnbc, Date: 2019-11-07  Authors: arjun kharpal
Keywords: news, cnbc, companies, networks, having, starts, development, network, turned, offer, speeds, reality, research, china, mobile


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Canada’s first openly gay Olympian says having the ‘space to be me’ helped him win gold

Swimmer Mark Tewksbury won Canada’s first gold medal for the 100-meter backstroke at the 1992 Summer Olympics in Barcelona, roaring back from his slump in the world rankings. At the time, working with a female coach was something unheard of in the “male-dominated” world of swimming, Tewksbury told CNBC. The swimmer said training with Muir forced him to be “open-minded” and to “innovate”, helping him to shave time off his record, climb back up the world rankings and win the gold medal. This “empo


Swimmer Mark Tewksbury won Canada’s first gold medal for the 100-meter backstroke at the 1992 Summer Olympics in Barcelona, roaring back from his slump in the world rankings.
At the time, working with a female coach was something unheard of in the “male-dominated” world of swimming, Tewksbury told CNBC.
The swimmer said training with Muir forced him to be “open-minded” and to “innovate”, helping him to shave time off his record, climb back up the world rankings and win the gold medal.
This “empo
Canada’s first openly gay Olympian says having the ‘space to be me’ helped him win gold Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-01  Authors: vicky mckeever
Keywords: news, cnbc, companies, tewksbury, south, canadas, openly, swimmer, olympian, muir, helped, space, gold, having, win, gay, world, swimming


Canada's first openly gay Olympian says having the 'space to be me' helped him win gold

Swimmer Mark Tewksbury won Canada’s first gold medal for the 100-meter backstroke at the 1992 Summer Olympics in Barcelona, roaring back from his slump in the world rankings.

Four years earlier, Tewksbury entered the 1988 Olympics in Seoul, South Korea while ranked second in the world, winning a silver medal as part of the 100-meter relay team. However, the late 80s emergence of underwater swimming techniques such as the “dolphin kick”, saw Tewksbury, a strong surface swimmer, slip down the rankings following the games.

This was when he decided to work with synchronized swimming coach, Debbie Muir. At the time, working with a female coach was something unheard of in the “male-dominated” world of swimming, Tewksbury told CNBC.

The swimmer said training with Muir forced him to be “open-minded” and to “innovate”, helping him to shave time off his record, climb back up the world rankings and win the gold medal.

Tewksbury said another important part of the process with Muir was getting the time and room to be himself as he fought back to the top of his sport.

“Part of that process was the technical, but it was also having somebody that created the space for me, as a closeted gay person back in the eighties and nineties – a totally different world and also in the world of sport, which still isn’t very progressive on most issues – this space to be me,” Tewksbury explained.

This “empowering” experience led Tewksbury, who came out in 1998 and was Canada’s first Olympian to do so, to start his own journey to help others find that same safe space for themselves.

Tewksbury said he was thankful to see Canadian pair skater Eric Radford become the first openly gay man to win Olympic gold at the winter 2018 games in PyeongChang, South Korea.

“I was like, no wonder I didn’t do it in 1992…but I’ve worked really hard to create those spaces and actually, I’m grateful to have been one of the mentors that was there for Eric to have his journey in Canada,” he said.

Since coming out, Tewksbury has addressed the United Nations on LGBTQ issues and been inducted into Canada’s Q and LGBT Human Rights hall of fame, as well as receiving other accolades for his activism.


Company: cnbc, Activity: cnbc, Date: 2019-11-01  Authors: vicky mckeever
Keywords: news, cnbc, companies, tewksbury, south, canadas, openly, swimmer, olympian, muir, helped, space, gold, having, win, gay, world, swimming


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There’s a surplus of four million cybersecurity jobs, here’s why companies are having trouble hiring

There’s a surplus of four million cybersecurity jobs, here’s why companies are having trouble hiringCompanies are having a hard time hiring for cybersecurity roles. CNBC’s Kate Rogers reports on the dicfficulty companies are seeing.


There’s a surplus of four million cybersecurity jobs, here’s why companies are having trouble hiringCompanies are having a hard time hiring for cybersecurity roles.
CNBC’s Kate Rogers reports on the dicfficulty companies are seeing.
There’s a surplus of four million cybersecurity jobs, here’s why companies are having trouble hiring Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-01
Keywords: news, cnbc, companies, heres, cybersecurity, theres, companies, trouble, jobs, roles, million, rogers, having, seeing, surplus, reports, hiring


There's a surplus of four million cybersecurity jobs, here's why companies are having trouble hiring

There’s a surplus of four million cybersecurity jobs, here’s why companies are having trouble hiring

Companies are having a hard time hiring for cybersecurity roles. CNBC’s Kate Rogers reports on the dicfficulty companies are seeing.


Company: cnbc, Activity: cnbc, Date: 2019-11-01
Keywords: news, cnbc, companies, heres, cybersecurity, theres, companies, trouble, jobs, roles, million, rogers, having, seeing, surplus, reports, hiring


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Instagram drives massive Halloween spending

If Valentine’s Day is a Hallmark holiday, Halloween was made for Instagram. When it comes to spending, nearly half, or 48%, of millennials said they purchased items strictly for the social media posts, compared to less than a third of those in Generation X, according to a new report from CompareCards by LendingTree. About 4 in 10 millennials said they felt “a lot” of pressure to spend on Halloween and nearly one-third admitted to spending more on Halloween than any other holiday. “It’s not even


If Valentine’s Day is a Hallmark holiday, Halloween was made for Instagram.
When it comes to spending, nearly half, or 48%, of millennials said they purchased items strictly for the social media posts, compared to less than a third of those in Generation X, according to a new report from CompareCards by LendingTree.
About 4 in 10 millennials said they felt “a lot” of pressure to spend on Halloween and nearly one-third admitted to spending more on Halloween than any other holiday.
“It’s not even
Instagram drives massive Halloween spending Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-29  Authors: jessica dickler
Keywords: news, cnbc, companies, great, millennials, drives, spending, social, nrf, halloween, instagram, nearly, media, having, massive, holiday


Instagram drives massive Halloween spending

If Valentine’s Day is a Hallmark holiday, Halloween was made for Instagram. When it comes to spending, nearly half, or 48%, of millennials said they purchased items strictly for the social media posts, compared to less than a third of those in Generation X, according to a new report from CompareCards by LendingTree. About 4 in 10 millennials said they felt “a lot” of pressure to spend on Halloween and nearly one-third admitted to spending more on Halloween than any other holiday. “It’s not even necessarily about having a great time; it’s about looking like you are having a great time,” said Matt Schulz, the chief industry analyst at CompareCards.

“Spending hasn’t changed much over the past few years, but we are seeing a noticeable increase in consumers whose Halloween purchases are inspired by their friends, neighbors and even celebrities on social media,” said Matthew Shay, NRF president and CEO, in a statement. The NRF polled more than 7,400 consumers in September. Subscribe to CNBC on YouTube.


Company: cnbc, Activity: cnbc, Date: 2019-10-29  Authors: jessica dickler
Keywords: news, cnbc, companies, great, millennials, drives, spending, social, nrf, halloween, instagram, nearly, media, having, massive, holiday


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Rep. Katie Hill admits to having a relationship with a staffer after the announcement of an ethics probe

California Rep. Katie Hill confirmed that she had an inappropriate relationship with a campaign staffer following an announcement Wednesday of a probe by the House Committee on Ethics. “I know that even a consensual relationship with a subordinate is inappropriate, but I still allowed it to happen despite my better judgment,” the letter read. Among the content published by RedState was a nude photo of Hill. “Intimate photos of me and another individual were published by Republican operatives on


California Rep. Katie Hill confirmed that she had an inappropriate relationship with a campaign staffer following an announcement Wednesday of a probe by the House Committee on Ethics.
“I know that even a consensual relationship with a subordinate is inappropriate, but I still allowed it to happen despite my better judgment,” the letter read.
Among the content published by RedState was a nude photo of Hill.
“Intimate photos of me and another individual were published by Republican operatives on
Rep. Katie Hill admits to having a relationship with a staffer after the announcement of an ethics probe Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-24  Authors: yelena dzhanova
Keywords: news, cnbc, companies, hill, announcement, having, letter, photos, lawmaker, probe, katie, kelly, involved, rep, published, ethics, admits, relationship, staffer


Rep. Katie Hill admits to having a relationship with a staffer after the announcement of an ethics probe

California Rep. Katie Hill confirmed that she had an inappropriate relationship with a campaign staffer following an announcement Wednesday of a probe by the House Committee on Ethics.

On Tuesday, Hill said she did not have a relationship with legislative director Graham Kelly, but she walked back that account the next day, saying in a letter to constituents that she got involved with Kelly “during the final tumultuous years of my abusive marriage,” the Los Angeles Times reported.

“I know that even a consensual relationship with a subordinate is inappropriate, but I still allowed it to happen despite my better judgment,” the letter read.

Her husband, Kenneth Heslep, filed for divorce in July.

RedState, a conservative website, published over the weekend a series of articles and photos reporting that the lawmaker and her husband had been involved in a relationship with a female campaign staffer whose name was not released. Among the content published by RedState was a nude photo of Hill.

“Intimate photos of me and another individual were published by Republican operatives on the internet without my consent,” the lawmaker told The Hill, referring to the materials as a “smear campaign.”

Hill, a freshman Democrat, won the race for Southern California’s 25th Congressional District against two-term Rep. Steve Knight during the 2018 midterm elections. Her victory was among those that propelled Democrats to a House majority.


Company: cnbc, Activity: cnbc, Date: 2019-10-24  Authors: yelena dzhanova
Keywords: news, cnbc, companies, hill, announcement, having, letter, photos, lawmaker, probe, katie, kelly, involved, rep, published, ethics, admits, relationship, staffer


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Tesla is having its best day in 6 years—here’s what Cramer and other experts are saying

Experts are split, but some, including Jim Cramer, liked what they saw in the results that ignited the move. Here’s what they’re saying:Jim Cramer, host of CNBC’s “Mad Money,” said the conference call felt like it was that of a more traditional automaker:”I’ve got to tell you: Ford sounded like Tesla, and Tesla sounded like Ford. This was – I’m not saying it was subdued [CEO] Elon [Musk], but it was a guy who makes cars. That’s one of the reasons why the stock’s [up] so much, because he wasn’t o


Experts are split, but some, including Jim Cramer, liked what they saw in the results that ignited the move.
Here’s what they’re saying:Jim Cramer, host of CNBC’s “Mad Money,” said the conference call felt like it was that of a more traditional automaker:”I’ve got to tell you: Ford sounded like Tesla, and Tesla sounded like Ford.
This was – I’m not saying it was subdued [CEO] Elon [Musk], but it was a guy who makes cars.
That’s one of the reasons why the stock’s [up] so much, because he wasn’t o
Tesla is having its best day in 6 years—here’s what Cramer and other experts are saying Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-24  Authors: lizzy gurdus
Keywords: news, cnbc, companies, tesla, quarter, yearsheres, having, best, day, model, million, think, earnings, revenue, look, saying, going, cramer, experts


Tesla is having its best day in 6 years—here's what Cramer and other experts are saying

Has Tesla turned?

That was the big question on Wall Street on Thursday as shares of the technology-forward automaker had their best day since 2013 following the company’s third-quarter earnings release.

Experts are split, but some, including Jim Cramer, liked what they saw in the results that ignited the move.

Here’s what they’re saying:

Jim Cramer, host of CNBC’s “Mad Money,” said the conference call felt like it was that of a more traditional automaker:

“I’ve got to tell you: Ford sounded like Tesla, and Tesla sounded like Ford. Tesla was like listening to a call from a real company that made cars and made money. … It was seamless. How about China? The fastest to grow, to put up a factory and hire people. This was – I’m not saying it was subdued [CEO] Elon [Musk], but it was a guy who makes cars. I enjoy this kind of not-wise-guy Elon. … Now, people hate this. … You say something good about Tesla and people say, ‘Hey, you said it was bad. You said something bad about Tesla and now you’ve got me caught in a short.’ Look, the fact is that Tesla delivered a profit, but there are a lot of people who think it was still hocus pocus. I come back and say I look at that cash position, and I say you know what? … It was just a regular call. That’s one of the reasons why the stock’s [up] so much, because he wasn’t on Twitter saying, ‘This was the greatest quarter ever and I’m going to make 500,000 cars.’ There was none of that. There wasn’t. And the China thing? Look, it turns out that – by the way, like [PayPal CEO] Dan Schulman – if you work with the Chinese government, you can still do a tremendous amount of business.”

Craig Irwin, senior research analyst at Roth Capital Partners, wasn’t quite as bullish on Tesla’s prospects:

“So, what I’m looking at is revenue is down [$]520 million year over year. Why is that? We have 10,000 fewer Model S and X cars this year versus last year. Pricing on the Model 3 is actually off about 20% year over year, and it looks like quicksand to me. So, we have to look at 2020 and ask: Are we going to see further deceleration? Are we going to see further probable price pressure on the Model 3? I think so. I think it’s overdone at [$]300. [Host: And the Model Y isn’t going to come save the story?] I’m a skeptic. I think it probably does end up cannibalizing the three in a very similar way to when we saw the X come in with the S.”

Gene Munster, co-founder of Loup Ventures, said the report will refocus investors on the bull case for Tesla:

“This was a great quarter for them, and I reluctantly use the word ‘great’ because I think it’s such an emotional stock one way or the other and I don’t want to pick sides here. I want to stay straight and narrow down the road. And specifically what happened – and, in hindsight, they kind of told us that this would happen in their June letter, that they’d been recognizing some revenue from the deferred component. That is probably the biggest missing piece between that revenue fractional miss and the strong earnings, is that they have, call it, $880 million in deferred revenue. Last quarter, they said there was [$]567 million that would be recognized over the next year, but … the incremental piece that we learned from the letter that they just put out was that they still have nearly [$]500 million to recognize going forward. And so, what that probably means is a portion of this upside in earnings — maybe consider it a third or a half of it — was related to deferred, essentially 100% margin revenue that came from this full self-driving feature that they’ve been selling. So, the reason why that is an important factor in this, as we think about this quarter relative to the Tesla story, is that the deliveries have been moving in the right direction. I’m surprised that their guidance will call for … a record number [of vehicles] in the December quarter, but the earnings piece their ability to shave off this deferred income, makes it more easy for the company to essentially improve that earnings piece, which obviously has been one of the negatives around this story. And they can sustain that, that [$]570 million. They could take pieces of that over the next two years. And so, this whole idea that … we’re one quarter away from things kind of collapsing, I think that story took a step back and the overall story took a step forward today.”

Cathie Wood, a noted Tesla bull and the CEO of Ark Invest, which has a $4,000 long-term price target on the stock, said the short sellers were likely “covering” as the stock surged over 17%:

“I think … some of the shorts are covering. They’re stretching to make a negative case now. They’re trying to figure out, is there some accounting gimmickry here that has caused this upside surprise? And as we dig through the accounting and the numbers generally, if you look at the revenue growth year to date, 21%. Unit growth up 65% in an auto industry that is declining. We think total auto sales have peaked. So, this is quite dramatic, and I think the shorts are going to be forced to cover as time goes on.”

New Street Research analyst Pierre Ferragu said the positive results were a reflection of Tesla’s leadership in the auto space:

“I think nobody’s close, to be honest. Tesla introduced into the market the Model S seven years ago, and today, in what manufacturers have on the road or have announced, nothing is matching the 2012 Tesla Model S. And the Model S of Tesla today is actually 40% better than seven years ago. So, that’s how Tesla turned from being a disruptive innovator seven years ago to, actually, an industry leader. They have seven years of experience others don’t have, and I don’t think anyone is close to that.”

Disclaimer


Company: cnbc, Activity: cnbc, Date: 2019-10-24  Authors: lizzy gurdus
Keywords: news, cnbc, companies, tesla, quarter, yearsheres, having, best, day, model, million, think, earnings, revenue, look, saying, going, cramer, experts


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Facebook says Libra could use a series of cryptocurrencies pegged to different currencies

Facebook has suggested its Libra project could use multiple cryptocurrencies backed by different existing currencies like the dollar, rather than having one single digital token tied to a basket of currencies. The tech giant had initially proposed one synthetic unit of value that would be tied to a basket of currencies and government debt. “Instead of having a synthetic unit … we could have a series of stablecoins, a dollar stablecoin, a euro stablecoin, a sterling pound stablecoin, etc.” Stable


Facebook has suggested its Libra project could use multiple cryptocurrencies backed by different existing currencies like the dollar, rather than having one single digital token tied to a basket of currencies.
The tech giant had initially proposed one synthetic unit of value that would be tied to a basket of currencies and government debt.
“Instead of having a synthetic unit … we could have a series of stablecoins, a dollar stablecoin, a euro stablecoin, a sterling pound stablecoin, etc.”
Stable
Facebook says Libra could use a series of cryptocurrencies pegged to different currencies Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-21  Authors: ryan browne
Keywords: news, cnbc, companies, facebook, currencies, leading, libra, dollar, pegged, unit, tied, different, marcus, having, synthetic, initiative, stablecoin, cryptocurrencies, series


Facebook says Libra could use a series of cryptocurrencies pegged to different currencies

A “Zuck Buck” is displayed on a monitor as David Marcus, the executive leading Facebook’s blockchain initiative, is questioned by U.S. lawmakers in Washington, D.C., on July 17, 2019.

Facebook has suggested its Libra project could use multiple cryptocurrencies backed by different existing currencies like the dollar, rather than having one single digital token tied to a basket of currencies.

The tech giant had initially proposed one synthetic unit of value that would be tied to a basket of currencies and government debt. But according to Reuters, David Marcus, the executive leading Facebook’s blockchain initiative, told a banking seminar that he was open to looking at alternative approaches.

“We could do it differently,” he said, according to the news agency. “Instead of having a synthetic unit … we could have a series of stablecoins, a dollar stablecoin, a euro stablecoin, a sterling pound stablecoin, etc.”

Stablecoins are cryptocurrencies that are usually pegged to government-backed currencies like the dollar. Tether is the world’s best-known stablecoin, backed by the dollar, though it has garnered some controversy over whether it has a sufficient amount of dollars in reserve, as well as the suggestion that it could have been used for market manipulation.

Such currencies aim to reduce the volatility seen in virtual currencies like bitcoin and ether. In libra’s case, the objective is to create a more efficient cross-border payments system.


Company: cnbc, Activity: cnbc, Date: 2019-10-21  Authors: ryan browne
Keywords: news, cnbc, companies, facebook, currencies, leading, libra, dollar, pegged, unit, tied, different, marcus, having, synthetic, initiative, stablecoin, cryptocurrencies, series


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Consumer staples stocks are having best year in decades, but valuations may be ‘stretched’

A handful of top consumer staples stocks are having a banner year, with better year-to-date gains in 2019 than they’ve seen for decades. “But we do think some of the consumer stocks are overvalued.” “I think Walmart is showing good strength within [the Consumer Staples Select Sector SPDR Fund, or] XLP.” While Gordon said staples stocks were broadly overvalued, he maintained his bullish take on one high-flying name. “Plus, I think Costco trades more as a discretionary rather than a consumer stapl


A handful of top consumer staples stocks are having a banner year, with better year-to-date gains in 2019 than they’ve seen for decades.
“But we do think some of the consumer stocks are overvalued.”
“I think Walmart is showing good strength within [the Consumer Staples Select Sector SPDR Fund, or] XLP.”
While Gordon said staples stocks were broadly overvalued, he maintained his bullish take on one high-flying name.
“Plus, I think Costco trades more as a discretionary rather than a consumer stapl
Consumer staples stocks are having best year in decades, but valuations may be ‘stretched’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-18  Authors: lizzy gurdus
Keywords: news, cnbc, companies, best, shares, decades, staples, stock, valuations, tengler, think, stocks, walmart, costco, stretched, having, consumer


Consumer staples stocks are having best year in decades, but valuations may be 'stretched'

It’s a party in the pantry.

A handful of top consumer staples stocks are having a banner year, with better year-to-date gains in 2019 than they’ve seen for decades. They include:

PepsiCo, up 24%, its best year since 2000;

Costco, up 48%, its best year since 1998;

Procter & Gamble, up 28%, its best year since 1997;

Campbell Soup, up 45%, its best year since 1997;

General Mills, up 35%, its best year since 1991;

Hershey, up 43%, its best year since 1986.

That doesn’t mean they’re necessarily buys, warns Nancy Tengler, chief equity strategist at Tengler Wealth Management.

“I do think there are better places to be in the market,” she told CNBC’s “Trading Nation” on Thursday. “These valuations are pretty stretched.”

Tengler said that while she doesn’t believe September’s unexpected drop in retail sales “is indicative of a weakening consumer,” a number of the stocks behind consumer-facing companies appear to have lofty valuations.

“One month of retail sales numbers doesn’t have me concerned. We think the consumer is in great shape for all the obvious reasons: interest rates, employment, gas prices are tame,” the strategist said. “But we do think some of the consumer stocks are overvalued.”

Having pounded the table on stocks such as Costco when the stock market rolled over at the end of 2018, Tengler said her firm has decided it’s time to reposition.

“We’ve been selling a lot of those names. We exited Costco last week on a valuation basis. It’s just too overdone for us,” she said. “We do still hold PepsiCo, but we’ve trimmed Apple, which I think is kind of consumer-y. We’ve also trimmed Starbucks, Home Depot, Procter & Gamble, and we’re still holding onto things like Walmart.”

Walmart also caught the eye of Todd Gordon, longtime trader and founder of TradingAnalysis.com, who flagged the stock’s “beautiful” uptrend in the same “Trading Nation” interview.

“Ninety-five to 100 is your support level,” he said, noting that he’d recommend adding to a position in Walmart as the stock heads higher. “I think Walmart is showing good strength within [the Consumer Staples Select Sector SPDR Fund, or] XLP.”

While Gordon said staples stocks were broadly overvalued, he maintained his bullish take on one high-flying name.

“One stock that I do like is Costco. I continue to hold it in my portfolio simply because it’s working,” he said, pointing to the stock’s neat uptrend since the end of last year.

“You really can’t dump it until it gets below about 250,” he said, adding that he’d also boost his Costco position if the stock were to break out to the upside.

“But … once it gets overvalued into resistance, I’m going to look to scale back,” he said. “Plus, I think Costco trades more as a discretionary rather than a consumer staple just because of the growth rate.”

Costco shares were down less than 1% by midday Friday at $302.26 a share. Walmart was near $119.66, a less than 1% decline. The XLP gained less than 1%.

Disclosure: Todd Gordon owns shares of Costco. Nancy Tengler and Tengler Wealth Management both own shares of PepsiCo, Apple, Starbucks, Home Depot, Procter & Gamble and Walmart.

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Company: cnbc, Activity: cnbc, Date: 2019-10-18  Authors: lizzy gurdus
Keywords: news, cnbc, companies, best, shares, decades, staples, stock, valuations, tengler, think, stocks, walmart, costco, stretched, having, consumer


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Not having long-term care insurance can be ‘the single biggest devastator’ of your financial plan

Terry Vine | DigitalVision | Getty ImagesNo one likes to think about needing long-term care. About 60% of those turning 65 can expect to use some form of long-term care in their lives, according to the U.S. Health and Human Services Department. Her mother suffered from Alzheimer’s disease and had a LTC policy that covered in-home care and eventually, a nursing home. Cost of careMore than 8 million Americans have long-term care insurance, according to the American Association of Long-Term Care In


Terry Vine | DigitalVision | Getty ImagesNo one likes to think about needing long-term care. About 60% of those turning 65 can expect to use some form of long-term care in their lives, according to the U.S. Health and Human Services Department. Her mother suffered from Alzheimer’s disease and had a LTC policy that covered in-home care and eventually, a nursing home. Cost of careMore than 8 million Americans have long-term care insurance, according to the American Association of Long-Term Care In
Not having long-term care insurance can be ‘the single biggest devastator’ of your financial plan Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-14  Authors: michelle fox
Keywords: news, cnbc, companies, care, biggest, longterm, single, cost, having, insurance, coverage, money, policy, financial, henske, devastator, plan, ltc


Not having long-term care insurance can be 'the single biggest devastator' of your financial plan

Terry Vine | DigitalVision | Getty Images

No one likes to think about needing long-term care. Yet the reality is that many people will at some point in their life. About 60% of those turning 65 can expect to use some form of long-term care in their lives, according to the U.S. Health and Human Services Department. That may include a nursing home, assisted living or in-home care. Paula Nangle understands the importance of having insurance to protect against such an event. Her mother suffered from Alzheimer’s disease and had a LTC policy that covered in-home care and eventually, a nursing home. “We were able to keep her in individual living for as long as possible,” said Nangle, a certified financial planner with Marshall Financial Group, based in Doylestown, Pennsylvania. “She had the opportunity to feel like it was a little more normal.”

Cost of care

More than 8 million Americans have long-term care insurance, according to the American Association of Long-Term Care Insurance. However, the cost of that insurance is rising. For example, Genworth Financial received approval last year to increase premiums on its LTC insurance business. The weighted average rate increase was 45%.

There are so many creative ways to buy it today that will fit into your financial plan. Tom Henske partner, Lenox Advisors

The increase is due to a number of factors, including the fact that companies underpriced their policies for years and misjudged how many would drop coverage, said Tom Henske, CFP and partner at New York-based Lenox Advisors. Because of those rising premiums, some may opt for self-insurance, which means saving a pool of money to put towards long-term care. Coverage is also available through Medicaid, which has eligibility requirements. However, despite the increases, Henske said he still advises clients to get some form of coverage. Not being insured “can be the single biggest devastator of a financial plan,” he said. Elder care is expensive. The annual national median cost of a private room in a nursing home was $100,375 in 2018, according to Genworth Financial. Assisted living ran about $48,000 a year and a home health aide was $50,336 a year.

‘Don’t wait’

The rule of thumb generally has been to purchase LTC coverage around age 55. However, when to get it really depends on your situation. Kent Schmidgall, a CFP and wealth advisor at Buckingham Strategic Wealth in Burlington, Iowa, bought his policy about 10 years ago — when he was 27 years old. “I view insurance as important for protecting against catastrophic risks,” he said. “I felt like I had all of the catastrophic risks, such as premature death, loss of income, the house burning down, liability due to a car accident …. taken care of but one glaring risk: At some point, statistically, between my wife and I, we are going to need care.”

Peathegee Inc | Tetra images | Getty Images

While younger people may be concentrating on other financial obligations, such as paying off student loans, saving for retirement and getting life and disability insurance, some experts advise addressing long-term care as soon as they can. “The giant unknown … is health,” said Schmidgall. “The chances of being able to qualify for coverage at age 60 or age 30 or 40 is dramatically different.” For Henske, there is no better time than the present. “My biggest piece of advice is don’t wait to buy it,” said Henske, who purchased his own policy when he was in his early 30s. One reason is his concern about the availability of insurance to new policyholders in the future, thanks to increasing claims and low interest rates, which aren’t giving insurers the return on their money they expected. “There are too many creative ways to buy it today that will fit into your financial plan.”

Different options

A traditional long-term policy will cover the costs of care for a certain amount of time, generally up to six years. The amount of coverage depends on the average cost of care for your location. Most insurers offer it in the form of a monthly benefit, like $6,000 a month, and some may offer inflation protection. In other words, that monthly benefit will grow with inflation. If you don’t want to lay out money for something you may never use, there is a newer option: a hybrid policy that covers long-term care costs, but becomes life insurance paid to heirs if it is not used. More from Invest in You:

When it pays to buy travel insurance

Deepak Chopra: Your bad money habits could be hurting your health

Do this simple thing once a year to ratchet up your financial security Of the 350,000 Americans who bought long-term care protection in 2018, 85% chose the hybrid coverage, which is also called combo or linked-benefit, according to the long-term care insurance association. The main difference is price, Henske said. You’ll pay more for the combo product. There is also a way to reduce the cost of traditional policies. “Look at designing a policy so that you get maybe not the full cost, but offset a portion of it,” Marshall Financial Group’s Nangle said. This way if you need it, some of it is covered. If you don’t, you aren’t out as much money. It’s also important to remember to always pay your premium. “Once you stop you lose the benefit,” said Nangle.

Going without LTC insurance


Company: cnbc, Activity: cnbc, Date: 2019-10-14  Authors: michelle fox
Keywords: news, cnbc, companies, care, biggest, longterm, single, cost, having, insurance, coverage, money, policy, financial, henske, devastator, plan, ltc


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