Microsoft has a clear path 15% higher from here, technician says

The tech giant is reporting earnings after the bell Thursday, and one technician sees a breakout ahead. Microsoft has surged 34% this year, outpacing the XLK technology ETF’s 30% gain and the S&P 500’s 19% advance. It would need to fall nearly 4% to return to Stockton’s $131 support level. Nancy Tengler, chief investment strategist at Butcher Joseph Asset Management, said the fundamentals also support more upside for Microsoft. Analysts anticipate 7% increase in earnings and 9% sales growth for


The tech giant is reporting earnings after the bell Thursday, and one technician sees a breakout ahead. Microsoft has surged 34% this year, outpacing the XLK technology ETF’s 30% gain and the S&P 500’s 19% advance. It would need to fall nearly 4% to return to Stockton’s $131 support level. Nancy Tengler, chief investment strategist at Butcher Joseph Asset Management, said the fundamentals also support more upside for Microsoft. Analysts anticipate 7% increase in earnings and 9% sales growth for
Microsoft has a clear path 15% higher from here, technician says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: keris lahiff
Keywords: news, cnbc, companies, higher, stock, tengler, path, support, technician, clear, 131, uptrend, reporting, growth, microsoft, 15, sales, upside


Microsoft has a clear path 15% higher from here, technician says

Microsoft, the world’s largest publicly traded company, could get even bigger.

The tech giant is reporting earnings after the bell Thursday, and one technician sees a breakout ahead.

“Microsoft is really a momentum story and has been for more than several months now. It’s a long-term uptrend, it’s an intermediate term uptrend,” said Katie Stockton, founder of Fairlead Strategies, on CNBC’s “Trading Nation” on Wednesday.

Microsoft has surged 34% this year, outpacing the XLK technology ETF’s 30% gain and the S&P 500’s 19% advance. It has nearly doubled in value over the past two years.

“The stock, of course, having been where it has been, has a lot of support. Initially, it’s right around $131. It doesn’t mean it has to get back to that level, but it certainly would be very safe, in terms of preserving its uptrend on a pullback of that magnitude,” said Stockton.

The stock broke above $131 in early June and has held above $135 this month. It would need to fall nearly 4% to return to Stockton’s $131 support level.

“The last breakout that we had from Microsoft on the chart yielded a very aggressive, and maybe too aggressive, long-term target of about $156 for Microsoft — so, that shows you potential upside when you don’t have any resistance left on a chart,” she added.

Microsoft would need to rally another 15% to reach $156. It would mark a fresh record for the stock.

Nancy Tengler, chief investment strategist at Butcher Joseph Asset Management, said the fundamentals also support more upside for Microsoft.

“We see the company hitting on all cylinders,” said Tengler. “Azure is growing at, you know, 70%-plus year over year. We expect them to beat this quarter. If you look at the surveys from customers, at the margin, business is moving to Microsoft away from Amazon. So, we think that is the primary source of the good news.”

Azure, Microsoft’s cloud computing platform, regularly reports double-digit revenue growth. In its most recent reporting stretch, ending March, Azure sales grew by 73%, the strongest growth of all its product and service segments.

“We still like this stock. It’s one of our largest holdings, and we’ve been trimming it as it continues to appreciate, but it still represents almost 5% of our holdings,” said Tengler.

Analysts anticipate 7% increase in earnings and 9% sales growth for its fourth quarter, ended June, according to FactSet estimates.

Disclaimer


Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: keris lahiff
Keywords: news, cnbc, companies, higher, stock, tengler, path, support, technician, clear, 131, uptrend, reporting, growth, microsoft, 15, sales, upside


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European stocks close higher as investors monitor earnings; Burberry shares jump 14%

The pan-European Stoxx 600 was up 0.3% at the end of the session, with construction and material stocks, up 1.65%, leading the gains. Sterling slipped to around $1.24 as fears of a no-deal Brexit rose following comments from potential Conservative Party leader, Boris Johnson. Stateside, corporate figures will also be on traders’ minds with J.P. Morgan, Wells Fargo and Johnson & Johnson all set to report. Citigroup kicked off the earnings season on Wall Street Monday, reporting better-than-expect


The pan-European Stoxx 600 was up 0.3% at the end of the session, with construction and material stocks, up 1.65%, leading the gains. Sterling slipped to around $1.24 as fears of a no-deal Brexit rose following comments from potential Conservative Party leader, Boris Johnson. Stateside, corporate figures will also be on traders’ minds with J.P. Morgan, Wells Fargo and Johnson & Johnson all set to report. Citigroup kicked off the earnings season on Wall Street Monday, reporting better-than-expect
European stocks close higher as investors monitor earnings; Burberry shares jump 14% Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-16  Authors: elliot smith ryan browne, elliot smith, ryan browne
Keywords: news, cnbc, companies, earnings, second, stocks, following, investors, burberry, shares, stoxx, major, economy, trade, monitor, european, close, rose, johnson, figures, sales, jump, higher


European stocks close higher as investors monitor earnings; Burberry shares jump 14%

The pan-European Stoxx 600 was up 0.3% at the end of the session, with construction and material stocks, up 1.65%, leading the gains.

Sterling slipped to around $1.24 as fears of a no-deal Brexit rose following comments from potential Conservative Party leader, Boris Johnson. The dollar also strengthened after better-than-expected U.S. retail sales data.

Market players are largely focused on upcoming results from major companies Tuesday. In Europe, Burberry shares soared more than 14% to top the Stoxx 600 after the British luxury brand reported a pick-up in first-quarter sales driven by new designs from creative chief Riccardo Tisci.

Shares of Swedish power tools giant Husqvarna dropped 5% to the bottom of the European blue chip index after its CEO said its full-year 2019 operating margin would be at the lower end of the previous guidance range due to weak sales early in the second quarter.

Fiat Chrysler stock was down 3% at the closing bell after it was initiated at a “sell” rating by Goldman Sachs.

Stateside, corporate figures will also be on traders’ minds with J.P. Morgan, Wells Fargo and Johnson & Johnson all set to report.

Citigroup kicked off the earnings season on Wall Street Monday, reporting better-than-expected profit and revenue numbers for the second quarter.

Shares of Ryanair were up by 2.6% on Tuesday, despite the airline halving its 2020 passenger growth outlook on the back of delayed deliveries of Boeing’s 737 Max jet.

Meanwhile, trade continues to be an area of focus for the market. President Donald Trump said Monday that U.S. tariffs were having a “major effect” on China, following the release of data that showed China’s economy growing at its slowest pace in 27 years.

Elsewhere, in terms of data, the euro zone’s balance of trade for May came in at a surplus of 23 billion euros ($25.85 billion). Seasonally adjusted exports rose by 1.4% while imports were down 1%. The figures provide fresh indication that the currency area’s economy is holding steady amid global trade tensions.

July’s economic sentiment figures for Germany came in at -24.5 versus -22.3 expectations, compounding the economic uncertainty shrouding Europe’s largest economy.


Company: cnbc, Activity: cnbc, Date: 2019-07-16  Authors: elliot smith ryan browne, elliot smith, ryan browne
Keywords: news, cnbc, companies, earnings, second, stocks, following, investors, burberry, shares, stoxx, major, economy, trade, monitor, european, close, rose, johnson, figures, sales, jump, higher


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United Airlines posts higher profits and buys used Boeing 737s as Max grounding drags on

Strong travel demand pushed United Airlines Holdings second-quarter profit up more than 50% from a year ago, despite continued challenges from the grounding of the Boeing 737 Max. The Boeing 737 Max planes have been grounded worldwide since mid-March following two fatal crashes — one in Indonesia in October and another in Ethiopia in March — that killed a total of 346 people. United, which has 14 737 Max 9 jets, had expected the planes to return by Labor Day. American has 24 Boeing 737 Max jets


Strong travel demand pushed United Airlines Holdings second-quarter profit up more than 50% from a year ago, despite continued challenges from the grounding of the Boeing 737 Max. The Boeing 737 Max planes have been grounded worldwide since mid-March following two fatal crashes — one in Indonesia in October and another in Ethiopia in March — that killed a total of 346 people. United, which has 14 737 Max 9 jets, had expected the planes to return by Labor Day. American has 24 Boeing 737 Max jets
United Airlines posts higher profits and buys used Boeing 737s as Max grounding drags on Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-16  Authors: leslie josephs
Keywords: news, cnbc, companies, united, 737, demand, drags, planes, boeing, grounding, share, max, jets, posts, travel, profits, used, buys, higher


United Airlines posts higher profits and buys used Boeing 737s as Max grounding drags on

Strong travel demand pushed United Airlines Holdings second-quarter profit up more than 50% from a year ago, despite continued challenges from the grounding of the Boeing 737 Max.

United did not break out how the grounding, now in its fifth month, affected its bottom line but said it signed an agreement to buy 19 used Boeing 737-700 planes, older jets that it can use to meet growing demand. It expects those planes to be delivered in December.

The Boeing 737 Max planes have been grounded worldwide since mid-March following two fatal crashes — one in Indonesia in October and another in Ethiopia in March — that killed a total of 346 people. Regulators have not said when they expect to allow the planes to fly again, forcing airlines to cancel thousands of flights during the peak summer travel season and through the fall.

Airlines have scrambled to meet demand by combining flights and making other schedule tweaks.

On Friday, United removed the planes from its schedule through the start of November, with no end in sight to the grounding. United, which has 14 737 Max 9 jets, had expected the planes to return by Labor Day. American Airlines on Sunday also took the planes out of its schedules until early November, a move that would mean the cancellation of about 115 flights a day. American has 24 Boeing 737 Max jets in its fleet.

Delta Air Lines, which does not have the troubled plane in its fleet, said it has marginally benefited as rivals’ operations are hamstrung from the grounding.

In the three months ended June 30, net income rose 54% to $1.1 billion, or $4.02 a share, from $683 million, or $2.48 per share a year ago. On an adjusted basis, it earned $4.21 a share, beating analysts’ expectations of $4.09 a share.

Revenue rose close to 6% from a year ago to $11.4 billion, slightly above the $11.36 billion analysts had forecast, as demand for seats in every region where it operates climbed in the busy travel period.

The Chicago-based carrier also raised the low-end of its profit forecast for the year to $10.50 to $12 per share from an estimate of as low as $10 a share.

Executives from the second-largest U.S. carrier will hold a call with analysts on Wednesday at 10:30 a.m. ET, when they will likely face questions on how the grounding of the Boeing 737 Max could affect its operations through the end of the year.

Shares were up 0.6% in postmarket trading.

American and Southwest report second-quarter results on July 25.


Company: cnbc, Activity: cnbc, Date: 2019-07-16  Authors: leslie josephs
Keywords: news, cnbc, companies, united, 737, demand, drags, planes, boeing, grounding, share, max, jets, posts, travel, profits, used, buys, higher


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Europe stocks trade higher as China data meets expectations; Galapagos up 17%

European stocks traded higher Monday morning, despite worries that China’s economy is slowing amid a trade war with the U.S. Traders kept a close watch on the latest economic figures out of China. The country posted second-quarter figures on Monday that showed its economy grew 6.2% in the second-quarter, at its slowest pace in 27 years. Still, China’s GDP (gross domestic product) growth was in line with expectations, and data for industrial production, retail sales and fixed-asset investment cam


European stocks traded higher Monday morning, despite worries that China’s economy is slowing amid a trade war with the U.S. Traders kept a close watch on the latest economic figures out of China. The country posted second-quarter figures on Monday that showed its economy grew 6.2% in the second-quarter, at its slowest pace in 27 years. Still, China’s GDP (gross domestic product) growth was in line with expectations, and data for industrial production, retail sales and fixed-asset investment cam
Europe stocks trade higher as China data meets expectations; Galapagos up 17% Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-15  Authors: elliot smith ryan browne, elliot smith, ryan browne
Keywords: news, cnbc, companies, secondquarter, composite, europe, galapagos, figures, chinas, watch, economy, trade, stocks, data, 17, worries, expectations, meets, china, higher


Europe stocks trade higher as China data meets expectations; Galapagos up 17%

European stocks traded higher Monday morning, despite worries that China’s economy is slowing amid a trade war with the U.S.

The pan-European Stoxx 600 edged 0.5% higher in early deals. Basic resources leading led the gains with a 1.3% rise while food and beverage stocks slipped 0.2% and were the only sector trading in negative territory.

Traders kept a close watch on the latest economic figures out of China. The country posted second-quarter figures on Monday that showed its economy grew 6.2% in the second-quarter, at its slowest pace in 27 years. Still, China’s GDP (gross domestic product) growth was in line with expectations, and data for industrial production, retail sales and fixed-asset investment came in above analyst expectations.

Chinese stocks got a boost from the fresh data, with the Shanghai composite climbing 0.76% and the Shenzhen composite up 1.26%. MSCI’s broadest index of Asian shares outside Japan rose 0.26%.


Company: cnbc, Activity: cnbc, Date: 2019-07-15  Authors: elliot smith ryan browne, elliot smith, ryan browne
Keywords: news, cnbc, companies, secondquarter, composite, europe, galapagos, figures, chinas, watch, economy, trade, stocks, data, 17, worries, expectations, meets, china, higher


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Stocks eke out a record close, but Wall Street remains cautious on upcoming earnings reports

Stocks rose to notch a fresh record close on Monday, but the gains were muted as Wall Street remained cautious to start off the corporate earnings season. Citigroup kicked off the earnings season by reporting second-quarter numbers that topped analyst expectations. Gains from the initial public offering of Tradeweb, an electronic bond trading platform, drove the bank’s results past Wall Street estimates. The outlook for this earnings season is bleak. Analysts expect S&P 500 earnings to have fall


Stocks rose to notch a fresh record close on Monday, but the gains were muted as Wall Street remained cautious to start off the corporate earnings season. Citigroup kicked off the earnings season by reporting second-quarter numbers that topped analyst expectations. Gains from the initial public offering of Tradeweb, an electronic bond trading platform, drove the bank’s results past Wall Street estimates. The outlook for this earnings season is bleak. Analysts expect S&P 500 earnings to have fall
Stocks eke out a record close, but Wall Street remains cautious on upcoming earnings reports Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-15  Authors: fred imbert
Keywords: news, cnbc, companies, record, stocks, morgan, results, higher, season, eke, close, gains, reports, wall, street, earnings, upcoming, sp, remains


Stocks eke out a record close, but Wall Street remains cautious on upcoming earnings reports

Stocks rose to notch a fresh record close on Monday, but the gains were muted as Wall Street remained cautious to start off the corporate earnings season.

The Dow Jones Industrial Average closed 27.13 points higher, or 0.1%, at 27,359.16. The S&P 500 ended the day just above the flatline at 3,014.30. The Nasdaq Composite advanced 0.2% to 8,258.19. The major indexes also posted intraday all-time highs earlier in the session.

Citigroup kicked off the earnings season by reporting second-quarter numbers that topped analyst expectations. Gains from the initial public offering of Tradeweb, an electronic bond trading platform, drove the bank’s results past Wall Street estimates. Citigroup shares traded higher in the premarket after the results were released, but quickly fell after the open to close less than 0.1% lower.

Other big banks like J.P. Morgan Chase, Morgan Stanley, Bank of America and Goldman Sachs are expected to report quarterly earnings later this week.

The outlook for this earnings season is bleak. Analysts expect S&P 500 earnings to have fallen by 3% in the second quarter, according to FactSet data.


Company: cnbc, Activity: cnbc, Date: 2019-07-15  Authors: fred imbert
Keywords: news, cnbc, companies, record, stocks, morgan, results, higher, season, eke, close, gains, reports, wall, street, earnings, upcoming, sp, remains


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Dollar modestly higher in thin summer trading; upside limited

The dollar was little changed to slightly higher on Monday in thin summer trading, with the greenback’s upside potential hampered by expectations the Federal Reserve will cut interest rates at next week’s policy meeting. Investors expect the Fed to reduce its key rate by 25 basis points and make another cut in September. Money markets have priced in an ECB rate cut of 10 basis points in September and another one in March. In mid-morning trading, an index that tracks the dollar against a basket o


The dollar was little changed to slightly higher on Monday in thin summer trading, with the greenback’s upside potential hampered by expectations the Federal Reserve will cut interest rates at next week’s policy meeting. Investors expect the Fed to reduce its key rate by 25 basis points and make another cut in September. Money markets have priced in an ECB rate cut of 10 basis points in September and another one in March. In mid-morning trading, an index that tracks the dollar against a basket o
Dollar modestly higher in thin summer trading; upside limited Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-15
Keywords: news, cnbc, companies, trading, modestly, upside, yuan, cut, limited, dovish, dollar, central, rate, fed, summer, euro, markets, higher


Dollar modestly higher in thin summer trading; upside limited

The dollar was little changed to slightly higher on Monday in thin summer trading, with the greenback’s upside potential hampered by expectations the Federal Reserve will cut interest rates at next week’s policy meeting.

Investors expect the Fed to reduce its key rate by 25 basis points and make another cut in September. Foreign exchange markets were quiet on Monday and volatility low ahead of major central bank policy decisions next week.

The European Central Bank also holds a meeting next week, with investors expecting a dovish statement. Money markets have priced in an ECB rate cut of 10 basis points in September and another one in March.

The ECB’s meeting on July 25 may reinforce those expectations. Forecasts for dovish moves by both the Fed and ECB have kept euro/dollar stuck in a narrow range for weeks.

“Until we get the news out of the G7 central banks later in this month and later into the summer, we are likely to remain rather range-bound and relatively quiet,” said Brad Bechtel, managing director, Jefferies in New York. “Even then, we all know what to expect, more or less.”

In mid-morning trading, an index that tracks the dollar against a basket of six other major currencies was slightly higher at 96.95.

The dollar was little changed versus the yen at 107.865 .

The euro was flat at $1.1255, trading within the recent range of $1.14 to $1.11.

Investors are more bearish on the euro, since U.S. Treasury yields look set to remain among the highest in developed markets despite future Fed rate cuts, analysts say.

Some analysts, however, are surprised the euro is not gaining given that the market has priced in Fed easing.

“For the world’s most-traded and least-exciting currency pair, a dovish Fed, a weak-dollar president and a hint of global economic optimism, ‘ought’ to mean euro/dollar rallies,” said Kit Juckes, FX strategist at Societe Generale. “If it (the euro) can’t stage a move back to $1.14 in the next week or two, what on earth could make it rally?”

Elsewhere, the Australian dollar, the currency most sensitive to Chinese news, hit a more than one-week high on stronger-than-expected economic data from China. China’s industrial output rebounded in June from a 17-year low in May, while June retail sales surged 9.8% from a year earlier.

The Aussie was last up 0.1% at US$0.7031 against the U.S. dollar, while China’s offshore yuan was up 0.1% at 6.8742 yuan per dollar.


Company: cnbc, Activity: cnbc, Date: 2019-07-15
Keywords: news, cnbc, companies, trading, modestly, upside, yuan, cut, limited, dovish, dollar, central, rate, fed, summer, euro, markets, higher


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Jeremy Siegel: Stocks could add another 5% onto record rally by year-end thanks to the Fed

After four 0.25% hikes last year, the target range for the fed funds overnight bank lending rate stands at 2.25% to 2.5%. The final Fed increase in borrowing costs in 2018 came in December when the stock market was melting down. At the shorter end of the bond yield curve, the 3-month Treasury rate has actually been higher than the 10-year. That so-called inverted yield curve, when shorter-term bonds deliver higher rates than longer-term ones, historically has signaled a recession on the horizon.


After four 0.25% hikes last year, the target range for the fed funds overnight bank lending rate stands at 2.25% to 2.5%. The final Fed increase in borrowing costs in 2018 came in December when the stock market was melting down. At the shorter end of the bond yield curve, the 3-month Treasury rate has actually been higher than the 10-year. That so-called inverted yield curve, when shorter-term bonds deliver higher rates than longer-term ones, historically has signaled a recession on the horizon.
Jeremy Siegel: Stocks could add another 5% onto record rally by year-end thanks to the Fed Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-12  Authors: jessica bursztynsky
Keywords: news, cnbc, companies, add, higher, stocks, jeremy, stock, yield, rally, funds, yearend, week, rate, record, siegel, fed, thanks, market, curve


Jeremy Siegel: Stocks could add another 5% onto record rally by year-end thanks to the Fed

The stock market has been hitting all kinds of records this week, and Wharton School professor Jeremy Siegel told CNBC on Friday that he does not see that stopping anytime soon.

“I think fair market value does give us another 5% or 6% this year” on the S&P 500 with the Federal Reserve signalling interest rate cuts ahead, the longtime stock bull said on “Fast Money Halftime Report.”

“But we may go up 10% or 12% before we sell off,” Siegel added, noting the Fed tends to overshoot on both the downside and the upside when adjusting rates.

Fed Chairman Jerome Powell — who dropped rate-cut hints over two days of congressional economic testimony this week — has been widely criticized by Wall Street and President Donald Trump for hiking too aggressively.

After four 0.25% hikes last year, the target range for the fed funds overnight bank lending rate stands at 2.25% to 2.5%. The final Fed increase in borrowing costs in 2018 came in December when the stock market was melting down.

Siegel said he hopes the Fed cuts rates by a half percentage point at its upcoming July 30-31 meeting, though he acknowledges that such a bold move would be unlikely.

Around midday Friday, the CME FedWatch tracker was putting only about a 25% probability on a 0.5% reduction in the fed funds and much larger 75% odds on a 0.25% cut.

The reason Siegel would like to see a deeper cut is because he’s concerned about the fed funds rate being higher than the 10-year Treasury yield, which was around 2.1% on Friday.

At the shorter end of the bond yield curve, the 3-month Treasury rate has actually been higher than the 10-year.

That so-called inverted yield curve, when shorter-term bonds deliver higher rates than longer-term ones, historically has signaled a recession on the horizon.

“The biggest factor here is we really did see an inversion in that yield curve,” Siegel said. “I’ve gone through history, it is one of the most single reliable indicators of a recession. And I worry about that.”


Company: cnbc, Activity: cnbc, Date: 2019-07-12  Authors: jessica bursztynsky
Keywords: news, cnbc, companies, add, higher, stocks, jeremy, stock, yield, rally, funds, yearend, week, rate, record, siegel, fed, thanks, market, curve


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Dow jumps 240 points to all-time high as Wall Street ends record-breaking week on a high note

The Dow Jones Industrial Average jumped 200 points. The S&P 500 traded 0.3% higher and was on pace to close above 3,000 for the first time ever. Shares of Dow, Inc. led the Dow Industrials higher, rising nearly 4%. J.B. Hunt Transport Services was the best-performing stock in the S&P 500, jumping 6.2%, and leading a 1.5% gain in the industrials sector. The Dow and S&P 500 are up 1.3% and 0.6%, respectively.


The Dow Jones Industrial Average jumped 200 points. The S&P 500 traded 0.3% higher and was on pace to close above 3,000 for the first time ever. Shares of Dow, Inc. led the Dow Industrials higher, rising nearly 4%. J.B. Hunt Transport Services was the best-performing stock in the S&P 500, jumping 6.2%, and leading a 1.5% gain in the industrials sector. The Dow and S&P 500 are up 1.3% and 0.6%, respectively.
Dow jumps 240 points to all-time high as Wall Street ends record-breaking week on a high note Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-12  Authors: fred imbert
Keywords: news, cnbc, companies, ends, street, dow, higher, wall, high, stocks, recordbreaking, week, note, sp, points, 500, jumps, strong, rising, respectively


Dow jumps 240 points to all-time high as Wall Street ends record-breaking week on a high note

Stocks rose to all-time highs on Friday as investors looked to end a record-setting week on a high note after testimony from the top Federal Reserve official signaled that a rate cut was coming.

The Dow Jones Industrial Average jumped 200 points. The S&P 500 traded 0.3% higher and was on pace to close above 3,000 for the first time ever. The Nasdaq Composite advanced 0.5% to a record high.

Shares of Dow, Inc. led the Dow Industrials higher, rising nearly 4%. Intel and Caterpillar, meanwhile, climbed 2.3% and 2.4%, respectively. J.B. Hunt Transport Services was the best-performing stock in the S&P 500, jumping 6.2%, and leading a 1.5% gain in the industrials sector.

The major indexes were headed for solid weekly gains. The Dow and S&P 500 are up 1.3% and 0.6%, respectively. The Nasdaq, meanwhile, is up 0.9% this week. Investors have been piling into stocks in recent weeks amid expectations that the Fed will cut interest rates later this month.

“You can’t fight the Fed here,” said Michael Katz, partner at Seven Points Capital. “We have a strong bull market and we have a strong uptrend. As long as we’re heading higher, we’ve got to keep buying dips and not fight the trend.”

Fed Chair Jerome Powell testified in front of congressional leaders this week that “crosscurrents” from weaker overseas economic activity and rising trade tensions are dampening the outlook on the U.S. economy.


Company: cnbc, Activity: cnbc, Date: 2019-07-12  Authors: fred imbert
Keywords: news, cnbc, companies, ends, street, dow, higher, wall, high, stocks, recordbreaking, week, note, sp, points, 500, jumps, strong, rising, respectively


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Asia stocks edge up; China’s June exports fall less than expected

Meanwhile, China’s trade with the U.S. declined in the first half of the year, amid an impasse between the two economic giants. The Nikkei 225 in Japan closed 0.2% higher at 21,685.90, while the Topix index fell 0.15% to end its trading day at 1,576.31. Data on Friday showed that China’s dollar-denominated exports fell 1.3% in June from a year ago while imports fell 7.3% in the same period. Economists polled by Reuters had expected China’s June exports to have declined 2% from a year ago, while


Meanwhile, China’s trade with the U.S. declined in the first half of the year, amid an impasse between the two economic giants. The Nikkei 225 in Japan closed 0.2% higher at 21,685.90, while the Topix index fell 0.15% to end its trading day at 1,576.31. Data on Friday showed that China’s dollar-denominated exports fell 1.3% in June from a year ago while imports fell 7.3% in the same period. Economists polled by Reuters had expected China’s June exports to have declined 2% from a year ago, while
Asia stocks edge up; China’s June exports fall less than expected Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-12  Authors: eustance huang
Keywords: news, cnbc, companies, close, higher, trade, fell, trading, stocks, exports, chinas, showed, expected, index, declined, edge, fall, asia


Asia stocks edge up; China's June exports fall less than expected

Stocks in major Asian stock markets mostly closed higher on Friday. Meanwhile, China’s trade with the U.S. declined in the first half of the year, amid an impasse between the two economic giants.

The Nikkei 225 in Japan closed 0.2% higher at 21,685.90, while the Topix index fell 0.15% to end its trading day at 1,576.31. Over in South Korea, the Kospi advanced 0.29% to close at 2,086.66.

Australia’s S&P/ASX 200 slipped 0.29% to close at 6,696.50.

Mainland Chinese stocks rose on the day, with the Shanghai composite up 0.44% to 2,930.55 and the Shenzhen composite 0.506% higher to 1,556.77. The Shenzhen component also gained 0.66% to close at 9,213.38.

Hong Kong’s Hang Seng index added 0.23%, as of its final hour of trading. Overall, MSCI’s broadest index of Asia-Pacific shares outside Japan declined fractionally.

Data on Friday showed that China’s dollar-denominated exports fell 1.3% in June from a year ago while imports fell 7.3% in the same period. Economists polled by Reuters had expected China’s June exports to have declined 2% from a year ago, while imports were expected to have contracted 4.5% from a year earlier.

In the first half of the year, China’s total trade with the U.S. was down 9%, customs data showed.


Company: cnbc, Activity: cnbc, Date: 2019-07-12  Authors: eustance huang
Keywords: news, cnbc, companies, close, higher, trade, fell, trading, stocks, exports, chinas, showed, expected, index, declined, edge, fall, asia


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Ocasio-Cortez finds herself on same side as Trump regarding the Federal Reserve

National Economic Council Director Larry Kudlow praised Democratic Rep. Alexandria Ocasio-Cortez on Thursday after the left-wing lawmaker urged Federal Reserve Chair Jerome Powell to keep monetary policy loose because inflation was not an issue, something that President Donald Trump and his administration have been pushing for. Why does that cause higher inflation and interest rates? By the way, that’s been my position. That’s been the president’s position. Strong growth does not cause higher in


National Economic Council Director Larry Kudlow praised Democratic Rep. Alexandria Ocasio-Cortez on Thursday after the left-wing lawmaker urged Federal Reserve Chair Jerome Powell to keep monetary policy loose because inflation was not an issue, something that President Donald Trump and his administration have been pushing for. Why does that cause higher inflation and interest rates? By the way, that’s been my position. That’s been the president’s position. Strong growth does not cause higher in
Ocasio-Cortez finds herself on same side as Trump regarding the Federal Reserve Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-11  Authors: fred imbert
Keywords: news, cnbc, companies, federal, higher, kudlow, ocasiocortez, reserve, trump, regarding, powell, chairman, thats, growth, does, position, finds, inflation


Ocasio-Cortez finds herself on same side as Trump regarding the Federal Reserve

National Economic Council Director Larry Kudlow praised Democratic Rep. Alexandria Ocasio-Cortez on Thursday after the left-wing lawmaker urged Federal Reserve Chair Jerome Powell to keep monetary policy loose because inflation was not an issue, something that President Donald Trump and his administration have been pushing for.

“I know I’m a supply side conservative and so forth, but I want to note in the hearings yesterday with Fed Chairman Jay Powell, it was Ms. AOC who asked him about the Phillips curve,” Kudlow told Fox News on Thursday. “Why is rising growth and low unemployment bad? Why does that cause higher inflation and interest rates? Powell said ‘well, you’re right. That thing hasn’t worked in decades.'”

“I’ve got to give her high marks for that. She got that out of the chairman. By the way, that’s been my position. That’s been the president’s position. Strong growth does not cause higher inflation,” Kudlow said, adding he would like to discuss “supply-side economics” with Ocasio-Cortez in the future.


Company: cnbc, Activity: cnbc, Date: 2019-07-11  Authors: fred imbert
Keywords: news, cnbc, companies, federal, higher, kudlow, ocasiocortez, reserve, trump, regarding, powell, chairman, thats, growth, does, position, finds, inflation


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