Dollar hovers recent high, supported by higher US yields

The dollar hovered near a four-week high on Wednesday, supported by higher U.S. yields after the United States eased trade restrictions on Chinese telecommunications equipment maker Huawei Technologies. But late on Monday, the United States granted Huawei a licence to buy U.S. goods until Aug. 19. Against the yen, the dollar was largely steady at 110.49 yen, having hit a two-week high of 110.675 during the previous session. The greenback has recovered 1.4% from a three-month trough of 109.02 yen


The dollar hovered near a four-week high on Wednesday, supported by higher U.S. yields after the United States eased trade restrictions on Chinese telecommunications equipment maker Huawei Technologies. But late on Monday, the United States granted Huawei a licence to buy U.S. goods until Aug. 19. Against the yen, the dollar was largely steady at 110.49 yen, having hit a two-week high of 110.675 during the previous session. The greenback has recovered 1.4% from a three-month trough of 109.02 yen
Dollar hovers recent high, supported by higher US yields Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-22
Keywords: news, cnbc, companies, yields, dollar, recent, states, united, trade, touched, hovers, high, higher, supported, yen, huawei, overnight


Dollar hovers recent high, supported by higher US yields

The dollar hovered near a four-week high on Wednesday, supported by higher U.S. yields after the United States eased trade restrictions on Chinese telecommunications equipment maker Huawei Technologies.

The move came as a relief to markets hit by escalating trade tensions between the United States and China, though analysts said sentiment remained fragile with tariff negotiations between the world’s two largest economies yet to produce a durable solution.

“The trade dispute won’t be resolved easily, so the risk-off mood won’t come off all of a sudden. I think market sentiment will rather improve one small step at a time,” said Ayako Sera, market strategist at Sumitomo Mitsui Trust Bank.

Against a basket of key rival currencies, the dollar was last a shade lower at 98.014, having brushed a 3-1/2-week high of 98.134 overnight. The index has risen 1.9% so far this year.

The U.S. Commerce Department blocked Huawei Technologies from buying U.S. goods last week, leading several companies to suspend business with the world’s largest telecoms equipment maker.

Chipmakers, many of which sell to Huawei, bore the brunt of the sell-off.

But late on Monday, the United States granted Huawei a licence to buy U.S. goods until Aug. 19.

Against the yen, the dollar was largely steady at 110.49 yen, having hit a two-week high of 110.675 during the previous session. The greenback has recovered 1.4% from a three-month trough of 109.02 yen touched on Monday last week.

Japan’s exports fell 2.4% in April from a year earlier, down for a fifth straight month, in a sign of weakness in external demand, finance ministry data showed, compared with a 1.8% decrease expected by economists in a Reuters poll.

Sumitomo Mitsui’s Sera said the yen’s weakness overnight was thanks to the higher U.S. Treasury yields, which ticked up in response to the recovery in U.S. equities.

“When yields are rising, it’s natural for the dollar to be bought. I think moves in U.S. yields are really important,” she said.

The 10-year U.S. Treasury note yield was last largely unchanged at 2.423% after moving further off a seven-week low of 2.354% brushed on Thursday during the previous session.

The euro was steady at $1.1162.

The single currency, which has given up 0.9% from this month’s high touched on May 1, has been under pressure in recent weeks on dollar strength and due to concerns the upcoming European parliamentary elections may see euroskeptic parties faring well.

The pound was at $1.2713, hovering near a four-month low of $1.2685 touched overnight. It briefly rose overnight after Prime Minister Theresa May set out a “new deal” for Britain’s departure from the EU, offering sweeteners to Parliament including the chance to vote on whether to hold a second referendum to try to break the impasse over Brexit.

Yet traders doubted that a fractious Parliament would have to back any new referendum.


Company: cnbc, Activity: cnbc, Date: 2019-05-22
Keywords: news, cnbc, companies, yields, dollar, recent, states, united, trade, touched, hovers, high, higher, supported, yen, huawei, overnight


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European stocks close higher as trade war offers reprieve; tech sector rallies

European stocks closed higher Tuesday as tensions eased slightly in the escalating trade war between the U.S. and China. The pan-European STOXX 600 closed provisionally 0.5% higher, with most sectors in positive territory. Technology stocks led the gains with a 1.6% rise. Chipmakers AMS and STMicroelectronics both climbed about 4% as a result of the positive trade developments. OECD chief economist Laurence Boone told CNBC Tuesday that U.S.-Sino trade tensions have “derailed global growth” and n


European stocks closed higher Tuesday as tensions eased slightly in the escalating trade war between the U.S. and China. The pan-European STOXX 600 closed provisionally 0.5% higher, with most sectors in positive territory. Technology stocks led the gains with a 1.6% rise. Chipmakers AMS and STMicroelectronics both climbed about 4% as a result of the positive trade developments. OECD chief economist Laurence Boone told CNBC Tuesday that U.S.-Sino trade tensions have “derailed global growth” and n
European stocks close higher as trade war offers reprieve; tech sector rallies Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-21  Authors: elliot smith ryan browne, elliot smith, ryan browne
Keywords: news, cnbc, companies, technology, rallies, tech, stocks, reprieve, trade, european, tensions, offers, higher, markets, sector, territory, positive, growth, huawei, war


European stocks close higher as trade war offers reprieve; tech sector rallies

European stocks closed higher Tuesday as tensions eased slightly in the escalating trade war between the U.S. and China.

The pan-European STOXX 600 closed provisionally 0.5% higher, with most sectors in positive territory. Technology stocks led the gains with a 1.6% rise.

Monday saw markets close lower after a U.S. crackdown on Chinese telecommunications giant Huawei weighed on the technology sector. Major European chipmakers saw a sell-off with reports that Germany’s Infineon had suspended shipments to Huawei.

However, markets rebounded Tuesday after the U.S. government temporarily eased some trade restrictions imposed on the company, in a move intended to minimize disruption for Huawei customers around the world. Google confirmed Tuesday that it had reversed a decision to cut ties with Huawei following the move.

Chipmakers AMS and STMicroelectronics both climbed about 4% as a result of the positive trade developments. Many semiconductor stocks had turned south on Monday amid jitters around Huawei.

In economic news, the OECD released its growth outlook, projecting global economic growth of 3.2% in 2019, down 0.1% from its March forecast, and an unchanged 3.4% in 2020. OECD chief economist Laurence Boone told CNBC Tuesday that U.S.-Sino trade tensions have “derailed global growth” and need to be dealt with at a multilateral level.

Meanwhile, investors stateside took their cues from international equity markets, with the Dow Jones Industrial Average trading around 130 points higher and the S&P 500 and Nasdaq indexes also in positive territory.


Company: cnbc, Activity: cnbc, Date: 2019-05-21  Authors: elliot smith ryan browne, elliot smith, ryan browne
Keywords: news, cnbc, companies, technology, rallies, tech, stocks, reprieve, trade, european, tensions, offers, higher, markets, sector, territory, positive, growth, huawei, war


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Stocks in Asia mostly turn around as US-China trade tensions take a breather

Stocks in Asia were mostly higher on Tuesday as a temporary reprieve in U.S.-China trade tensions provided a breather. Mainland Chinese shares rose on the day, with the Shanghai composite gaining 1.23% to 2,905.97 and the Shenzhen component adding 1.92% to 9,087.52. The Shenzhen composite advanced 1.771% to 1,548.68. The Topix index also declined 0.3% to finish its trading day at 1,550.30. The Hang Seng index in Hong Kong declined around 0.5%, as of its final hour of trading.


Stocks in Asia were mostly higher on Tuesday as a temporary reprieve in U.S.-China trade tensions provided a breather. Mainland Chinese shares rose on the day, with the Shanghai composite gaining 1.23% to 2,905.97 and the Shenzhen component adding 1.92% to 9,087.52. The Shenzhen composite advanced 1.771% to 1,548.68. The Topix index also declined 0.3% to finish its trading day at 1,550.30. The Hang Seng index in Hong Kong declined around 0.5%, as of its final hour of trading.
Stocks in Asia mostly turn around as US-China trade tensions take a breather Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-21  Authors: eustance huang
Keywords: news, cnbc, companies, turn, stocks, asia, uschina, trade, shares, tensions, trading, rose, index, higher, declined, day, breather, composite, shenzhen, close


Stocks in Asia mostly turn around as US-China trade tensions take a breather

Stocks in Asia were mostly higher on Tuesday as a temporary reprieve in U.S.-China trade tensions provided a breather.

Mainland Chinese shares rose on the day, with the Shanghai composite gaining 1.23% to 2,905.97 and the Shenzhen component adding 1.92% to 9,087.52. The Shenzhen composite advanced 1.771% to 1,548.68.

Over in South Korea, the Kospi rose 0.27% to close at 2,061.25 as shares of Samsung Electronics surged 2.74% following earlier news of Google suspending business activity with Huawei.

Australia’s ASX 200 was 0.37% higher to close at 6,500.10.

The Australian dollar last changed hands at $0.6877, off highs above $0.696 seen in the previous week. Australia’s central bank will consider the case for lower interest rates at its June policy meeting, Governor Philip Lowe said on Tuesday.

Elsewhere in Asia, however, the Nikkei 225 in Japan lost 0.14% to close at 21,272.45. Shares of Tokyo Electron fell 1.88%. The Topix index also declined 0.3% to finish its trading day at 1,550.30.

The Hang Seng index in Hong Kong declined around 0.5%, as of its final hour of trading.


Company: cnbc, Activity: cnbc, Date: 2019-05-21  Authors: eustance huang
Keywords: news, cnbc, companies, turn, stocks, asia, uschina, trade, shares, tensions, trading, rose, index, higher, declined, day, breather, composite, shenzhen, close


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US Treasury yields tick higher ahead of comments from Fed’s Powell

Trump warns Iran not to fight the US: ‘That will be the official…Trump’s threat, posted on Twitter, comes amid rising international tensions in the Middle East as the U.S. has dispatched a carrier strike group and bomber task force to the… Politicsread more


Trump warns Iran not to fight the US: ‘That will be the official…Trump’s threat, posted on Twitter, comes amid rising international tensions in the Middle East as the U.S. has dispatched a carrier strike group and bomber task force to the… Politicsread more
US Treasury yields tick higher ahead of comments from Fed’s Powell Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-20  Authors: sam meredith
Keywords: news, cnbc, companies, twitter, higher, comments, rising, tensions, posted, strike, thepoliticsread, tick, warns, yields, ahead, trump, powell, task, threat, treasury, feds


US Treasury yields tick higher ahead of comments from Fed's Powell

Trump warns Iran not to fight the US: ‘That will be the official…

Trump’s threat, posted on Twitter, comes amid rising international tensions in the Middle East as the U.S. has dispatched a carrier strike group and bomber task force to the…

Politics

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Company: cnbc, Activity: cnbc, Date: 2019-05-20  Authors: sam meredith
Keywords: news, cnbc, companies, twitter, higher, comments, rising, tensions, posted, strike, thepoliticsread, tick, warns, yields, ahead, trump, powell, task, threat, treasury, feds


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Cramer: US companies are getting hurt by tariffs because ‘they didn’t think Trump had the resolve’

Some American companies “let themselves get hurt” by tariffs because they assumed President Donald Trump wouldn’t follow through on his China trade threats, CNBC’s Jim Cramer said Thursday. “They didn’t think Trump had the resolve,” Cramer said on “Squawk Box. Cramer praised Cisco Systems after the U.S.-based networking equipment maker said Wednesday that it had reduced its manufacturing in China in anticipation of increased tariffs by the Trump administration. Cramer has voiced support for Trum


Some American companies “let themselves get hurt” by tariffs because they assumed President Donald Trump wouldn’t follow through on his China trade threats, CNBC’s Jim Cramer said Thursday. “They didn’t think Trump had the resolve,” Cramer said on “Squawk Box. Cramer praised Cisco Systems after the U.S.-based networking equipment maker said Wednesday that it had reduced its manufacturing in China in anticipation of increased tariffs by the Trump administration. Cramer has voiced support for Trum
Cramer: US companies are getting hurt by tariffs because ‘they didn’t think Trump had the resolve’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-16  Authors: berkeley lovelace jr
Keywords: news, cnbc, companies, tariff, companies, resolve, trade, higher, told, week, didnt, china, hurt, tariffs, getting, trump, cramer, think, cisco


Cramer: US companies are getting hurt by tariffs because 'they didn't think Trump had the resolve'

Some American companies “let themselves get hurt” by tariffs because they assumed President Donald Trump wouldn’t follow through on his China trade threats, CNBC’s Jim Cramer said Thursday.

“They didn’t think Trump had the resolve,” Cramer said on “Squawk Box. “That proved to be wrong,” he said but added that some negative impact from the U.S.-China trade war is unavoidable.

Cramer praised Cisco Systems after the U.S.-based networking equipment maker said Wednesday that it had reduced its manufacturing in China in anticipation of increased tariffs by the Trump administration.

Cisco Chairman and CEO Chuck Robbins told Cramer on “Mad Money ” Wednesday evening that the current tariff risk to the company is “relatively immaterial at this point and built in to our guidance.”

However, Cisco’s CFO, Kelly Kramer, sitting next to Robbins, said if the Trump administration were to impose tariffs on the rest of China’s imports, that would not only impact Cisco but “every industry out there.”

Those tariff reassurances and better-than-expected fiscal third-quarter earnings late Wednesday boosted Dow-stock Cisco more than 5% early Thursday. That, coupled with better-than-expected earnings from Walmart, another component in the average, and a similar stock move higher for the retailer early Thursday, helped boost the market at the open.

If the Dow Jones Industrial Average, the S&P 500 and the Nasdaq were to close higher Thursday, that would be a three-day winning streak and perhaps a break in the negative sentiment surrounding trade headlines earlier this week.

The Trump administration last week increased duties on $200 billion worth of Chinese products from 10% to 25%. On Monday, in retaliation, China announced plans to raise tariffs rates on $60 billion in U.S. goods. The president has also been threatening all along to put tariffs on the rest of China’s imports.

Cramer has voiced support for Trump’s tougher stance on China but has also advised investors to load up on names that can withstand higher tariffs.

He reported last week that people were saying that American companies that did not reduce their China exposure after months and months of watching Washington and Beijing clash on trade have only themselves to blame.

“I’m also told that they are like, ‘Are you kidding me, you had a full year to move out of China. If you didn’t move out of China now, it’s your own fault,'” Cramer said at the time.


Company: cnbc, Activity: cnbc, Date: 2019-05-16  Authors: berkeley lovelace jr
Keywords: news, cnbc, companies, tariff, companies, resolve, trade, higher, told, week, didnt, china, hurt, tariffs, getting, trump, cramer, think, cisco


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European stocks close higher as trade fears fade

European stocks traded higher Thursday as markets recovered from an early rattle caused by U.S. President Donald Trump’s renewed targeting of Chinese tech firm Huawei. The pan-European STOXX 600 hit a day high just around the close of trade. Kone shares traded 4.98% higher. This came after a market sell-off Monday as the trade war between the world’s largest economies gathered pace. Trade tensions, however, continued to weigh on investor sentiment as Trump declared a national emergency over thre


European stocks traded higher Thursday as markets recovered from an early rattle caused by U.S. President Donald Trump’s renewed targeting of Chinese tech firm Huawei. The pan-European STOXX 600 hit a day high just around the close of trade. Kone shares traded 4.98% higher. This came after a market sell-off Monday as the trade war between the world’s largest economies gathered pace. Trade tensions, however, continued to weigh on investor sentiment as Trump declared a national emergency over thre
European stocks close higher as trade fears fade Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-16  Authors: elliot smith
Keywords: news, cnbc, companies, european, trade, president, higher, stocks, technology, chinese, trump, shares, fade, fears, traded, market, close, threats


European stocks close higher as trade fears fade

European stocks traded higher Thursday as markets recovered from an early rattle caused by U.S. President Donald Trump’s renewed targeting of Chinese tech firm Huawei. The pan-European STOXX 600 hit a day high just around the close of trade.

The STOXX 600 closed provisionally up by around 1.2%, Chemicals leading the gains with a 2.54% climb, while autos struggled to make headway, slipping 0.6%.

Thyssenkrupp was the strongest performer, its stock rising 10.03% on reports that Finland’s Kone is assessing the viability of a bid for the German industrial company’s elevators division. Kone shares traded 4.98% higher.

The European Commission revealed Thursday that Barclays, Citigroup, J.P. Morgan, MUFG and Royal Bank of Scotland have been fined a total of 1.07 billion euros ($1.2 billion) by EU antitrust regulators for rigging the spot foreign exchange market for 11 currencies.

In Asia, shares were mixed in Thursday afternoon trade after the U.S. took aim at Huawei again, with President Donald Trump declaring a national emergency over threats against U.S. technology. The move, done via executive order, is expected to precede a ban on American firms dealing with the Chinese telecommunications company.

However, French President Emmanuel Macron spoke to CNBC Thursday and poured cold water on the idea of implementing protectionist measures on tech companies like Huawei.

Mainland Chinese and Hong Kong shares recovered from an early slip to trade slightly higher in the afternoon, while stocks in Japan and South Korea finished in the red.

Stateside, investors will be monitoring a volatile market environment after stocks rose Wednesday following multiple sources telling CNBC of the delay to auto tariffs. This came after a market sell-off Monday as the trade war between the world’s largest economies gathered pace.

Trade tensions, however, continued to weigh on investor sentiment as Trump declared a national emergency over threats against American technology.


Company: cnbc, Activity: cnbc, Date: 2019-05-16  Authors: elliot smith
Keywords: news, cnbc, companies, european, trade, president, higher, stocks, technology, chinese, trump, shares, fade, fears, traded, market, close, threats


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Risks are rising for an oil price spike as tensions between the U.S. and Iran increase

If not for the trade war, both oil and gasoline prices could be much higher than they are now on rising tensions between the U.S. and Iran. “I think the real risk is Iran misreads [President Donald] Trump and Trump misreads Iran. The Houthi, operating from Yemen, have previously attempted attacks on Saudi oil infrastructure. “The two big reasons are the trade war, and its potential effect on economic activity and the huge growth in U.S. Saudi Arabia and OPEC, have been attempting to keep the oil


If not for the trade war, both oil and gasoline prices could be much higher than they are now on rising tensions between the U.S. and Iran. “I think the real risk is Iran misreads [President Donald] Trump and Trump misreads Iran. The Houthi, operating from Yemen, have previously attempted attacks on Saudi oil infrastructure. “The two big reasons are the trade war, and its potential effect on economic activity and the huge growth in U.S. Saudi Arabia and OPEC, have been attempting to keep the oil
Risks are rising for an oil price spike as tensions between the U.S. and Iran increase Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-15  Authors: patti domm
Keywords: news, cnbc, companies, higher, market, iran, risks, saudi, oil, trump, trade, war, increase, week, tensions, rising, barrels, spike, price


Risks are rising for an oil price spike as tensions between the U.S. and Iran increase

If not for the trade war, both oil and gasoline prices could be much higher than they are now on rising tensions between the U.S. and Iran.

Analysts say oil could be more than 10% higher, but if there is a resolution of trade issues, and the situation in the Middle East intensifies, there are risks of price spikes that take oil to as high as $100 a barrel this summer.

“If you do get a trade war resolution, a better economy coupled with Iran sanctions, that’s a recipe for higher oil,” said Francisco Blanch, head of global commodities and derivatives at Bank of America Merrill Lynch. Blanch said under that scenario, one incident could trigger a spike in Brent, the international benchmark, to $100 a barrel.

“I think the real risk is Iran misreads [President Donald] Trump and Trump misreads Iran. I do think the real risks are increasing for sure,” said Blanch. His forecast is for Brent to reach $82 per barrel during the summer.

West Texas Intermediate futures are flat this week at just around $62 per barrel and down 2.2% for the month so far, even though the U.S. has sent an aircraft carrier and bombers to the Gulf due to unspecified threats, which U.S. officials say are the work of Iran.

The U.S. Wednesday ordered all non-emergency diplomatic staff to leave Iraq, after two separate attacks in the region and as the U.S. responds to other nonspecific threats. This week, two Saudi tankers were among four ships attacked off the coast of the United Arab Emirates, and Houthi rebels, who have ties to Iran, claimed responsibility for a separate drone attack on a key Saudi Arabian pipeline.

While it’s not clear Iran was involved, analysts expect more such incidents.

“Senior Iranian officials have made veiled and not-so-veiled threats to obstruct the ability of its regional rivals to export oil and exponentially raise the economic costs of remaining on the current policy course. They have also warned of ‘planned accidents’ which could lead to direct confrontation,” notes Helima Croft, global head of commodities strategy at RBC.

The Houthi, operating from Yemen, have previously attempted attacks on Saudi oil infrastructure. Saudi Arabia and Iran are engaged in a proxy war in Yemen. Iran also provides funding for Hezbollah, a Lebanon based group designated as terrorists by the U.S.

The Saudi Aramco oil pipeline was temporarily closed after the drone incident. It is a 1,200 mile oil artery the Saudis built to bypass the Straits of Hormuz during the Iran-Iraq war.

Croft said the presence of the U.S. Fifth Fleet in Bahrain would likely discourage Iran from trying to close the Straits of Hormuz, though it could could use its proxies and stage one-off attacks on ships.

“It is important to note that these are not the only flash points in the region, and while an off-ramp may yet emerge, the hawks appear in ascendancy, which leaves oil’s risk premium set to take center stage,” she noted.

Croft said while the Trump administration has not blamed Iran in the attacks this week, they are “under a very heavy cloud of suspicion and there is growing concern that the region’s long simmering cold war may be poised to become a hot one.”

John Kilduff of Again Capital, said that scenario is one side of the tug of war on oil prices.

“The battle in the oil market is the geopolitical premium versus the slowing global economy, which is the fallout from the trade war,” said John Kilduff of Again Capital “WTI would be pressing $70, and Brent would probably push on $80 to $85.” Brent futures were just under $72 per barrel.

But those prices have not moved much higher in last few weeks, even as it became clear the U.S. would play hardball with Iran and pressure its oil sales to zero. It’s been a year since the U.S. dropped out of the agreement between Iran and six nations, which prohibited Iran from working on its nuclear program in exchange for a lifting of sanctions. The U.S. is the only nation to break from the agreement.

Iran has threatened to restart elements of its nuclear program, unless the European signatories of the accord help allow it to make oil sales.

“Historically, with this kind of tension in the Gulf, there would definitely be a security premium in the price. We haven’t seen it this time—so far,” said Daniel Yergin, vice chairman of IHS Markit. “The two big reasons are the trade war, and its potential effect on economic activity and the huge growth in U.S. supply.”

Yergin said U.S. Secretary of State Mike Pompeo has made it clear when speaking to oil industry leaders that the boom in U.S. oil production has helped give the U.S. flexibility.

“This is a case study of how the growth in shale, and the change in the U.S. position affects perceptions about security,” said Yergin. In the past year, the U.S. has surged past Russia to be the world’s largest oil producer. Last week, U.S. oil production was at 12.1 million barrels a day, while exports surged to 3.3 million barrels a day.

“You have this firewall of U.S. output,” said Kilduff. “The Saudis can really turn the spigot on at will. There’s a lot of cushion as we go into this situation with Iran.” Saudi Arabia and OPEC, have been attempting to keep the oil market in balance under an agreement with Russia and other non-OPEC producers. The joint monitoring committee for that group meets this week.

“There was chatter in the market that this weekend, they could agree to raise the production cap to respond to the loss of Iranian crude,” he said. Analyst said Iran exports have already fallen below 1 million barrels a day and it could drop more, to as little as 200,000 barrels a day.

Analysts say the potential for more incidents in the Gulf is increasing, as Iran gets more desperate and its economy gets weaker under U.S. sanctions.

President Donald Trump this week denied reports that the U.S. was considering sending as many 120,000 troops to the Middle East to deal with Iran. But he added if troops were necessary, he’d send “a hell of a lot more.” Trump’s advisers, however, are seen as more hawkish than the president, and it was his national security adviser John Bolton, former U.N. Ambassador, who advised President George W. Bush in the war against Iraq.

“It’s a flammable situation and with lots of room for miscues and miscalculations,” said Yergin.

Blanch said Iran has several options, including dropping out of the nuclear agreement, but the most likely is that Iran will take indirect actions through proxies.

“There’s no sense they’re going to come back to the negotiating table,” said Blanch. “Iran could see being more proactive against U.S. aggression, for the home audience. At the end of the day, the loss of market share for Iran is a gain for the rest of the region. Other than letting others pocket money for the barrels you no longer can sell, you could target those barrels and maybe in the process push the price up and put some pressure on the Trump administration which doesn’t want to see higher gasoline prices. It’s a fine line to walk.”

Kilduff said the market is more on edge, even if prices aren’t rising.

“Because of the maximum pressure campaign the U.S. is putting on Iran, there’s little doubt the Iranians will try to act out through proxies in the areas. We’re tripping into conflict. That’s the sense in the market,” said Kilduff.


Company: cnbc, Activity: cnbc, Date: 2019-05-15  Authors: patti domm
Keywords: news, cnbc, companies, higher, market, iran, risks, saudi, oil, trump, trade, war, increase, week, tensions, rising, barrels, spike, price


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Here’s why global stocks aren’t sinking despite the US tariff hike

A global stock market sell-off started to ease on Friday despite the U.S. fulfilling a promise to ramp up tariffs on Chinese goods. The U.S. hiked tariffs from 10% to 25% on $200 billion worth of Chinese goods at 12:01 a.m. In response, Beijing said it “deeply regrets” the tariff hike and would take countermeasures — though no specifics were provided. Markets across the globe initially fell overnight but were quick to bounce back and trade higher. Uncertainty over trade talks will linger, but so


A global stock market sell-off started to ease on Friday despite the U.S. fulfilling a promise to ramp up tariffs on Chinese goods. The U.S. hiked tariffs from 10% to 25% on $200 billion worth of Chinese goods at 12:01 a.m. In response, Beijing said it “deeply regrets” the tariff hike and would take countermeasures — though no specifics were provided. Markets across the globe initially fell overnight but were quick to bounce back and trade higher. Uncertainty over trade talks will linger, but so
Here’s why global stocks aren’t sinking despite the US tariff hike Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-10  Authors: spriha srivastava, artyom ivanov, tass, getty images
Keywords: news, cnbc, companies, trade, tariffs, war, despite, stocks, sinking, nearly, initially, worth, hike, global, heres, higher, chinese, twolargest, worlds, arent, tariff


Here's why global stocks aren't sinking despite the US tariff hike

A global stock market sell-off started to ease on Friday despite the U.S. fulfilling a promise to ramp up tariffs on Chinese goods.

The U.S. hiked tariffs from 10% to 25% on $200 billion worth of Chinese goods at 12:01 a.m. ET Friday. In response, Beijing said it “deeply regrets” the tariff hike and would take countermeasures — though no specifics were provided.

Markets across the globe initially fell overnight but were quick to bounce back and trade higher. In Asia, mainland Chinese stocks jumped with the Shanghai composite rising more than 3%. In Europe, the pan-European Stoxx 600 traded nearly 1% higher in early deals with the German DAX up by the same amount. Stateside, Dow futures initially slipped and pointed to nearly triple-digit losses at the open, but soon recovered.

Uncertainty over trade talks will linger, but some analysts believe investors are still optimistic that the world’s two-largest economies will avoid a full-blown trade war.


Company: cnbc, Activity: cnbc, Date: 2019-05-10  Authors: spriha srivastava, artyom ivanov, tass, getty images
Keywords: news, cnbc, companies, trade, tariffs, war, despite, stocks, sinking, nearly, initially, worth, hike, global, heres, higher, chinese, twolargest, worlds, arent, tariff


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BMW quarterly profit tumbles 78%, hit by 1.4 billion euro legal provision

BMW’s first-quarter operating profit fell 78 percent to 589 million euros, despite higher deliveries of luxury vehicles, as the carmaker felt the effects of higher investment spending and a 1.4 billion euro ($1.6 billion) legal provision. The European Commission last month told German carmakers they face hefty fines for alleged collusion in the area of emissions filtering technology. Adding to the downbeat tone, the company reiterated that it expects group profit before tax to be well below the


BMW’s first-quarter operating profit fell 78 percent to 589 million euros, despite higher deliveries of luxury vehicles, as the carmaker felt the effects of higher investment spending and a 1.4 billion euro ($1.6 billion) legal provision. The European Commission last month told German carmakers they face hefty fines for alleged collusion in the area of emissions filtering technology. Adding to the downbeat tone, the company reiterated that it expects group profit before tax to be well below the
BMW quarterly profit tumbles 78%, hit by 1.4 billion euro legal provision Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-07
Keywords: news, cnbc, companies, provision, 78, euros, analyst, euro, billion, tumbles, profit, higher, quarterly, legal, hit, firstquarter, fell, bmw, electric, million, spending


BMW quarterly profit tumbles 78%, hit by 1.4 billion euro legal provision

BMW’s first-quarter operating profit fell 78 percent to 589 million euros, despite higher deliveries of luxury vehicles, as the carmaker felt the effects of higher investment spending and a 1.4 billion euro ($1.6 billion) legal provision.

The European Commission last month told German carmakers they face hefty fines for alleged collusion in the area of emissions filtering technology. BMW denies participating in anti-trust activities and is contesting the allegations.

Adding to the downbeat tone, the company reiterated that it expects group profit before tax to be well below the previous year’s level.

BMW’s first-quarter earnings before interest and taxes were below the 666 million euros forecast in an analyst poll, weighed down by a 36 percent jump in spending on property, plants and equipment to convert its factories to build electric cars.

Analysts said BMW’s results were underwhelming, adding that sales of electric and hybrid cars were not stellar. Shares fell 1 percent after the market opened.

“Business is not doing well at BMW,” NordLB analyst Frank Schwope said. That view was shared by Evercore ISI analyst Arndt Ellinghorst who said: “BMW has entered a period of weakness. The question is, how long will it last?”


Company: cnbc, Activity: cnbc, Date: 2019-05-07
Keywords: news, cnbc, companies, provision, 78, euros, analyst, euro, billion, tumbles, profit, higher, quarterly, legal, hit, firstquarter, fell, bmw, electric, million, spending


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Gold firms as Sino-US trade spat dents risk sentiment

Gold prices edged higher on Tuesday as investors moved away from riskier assets after U.S. President Donald Trump threatened to raise tariffs on Chinese imports, heightening trade tensions and lifting demand for the safe-haven metal. U.S. gold futures settled $1.80 higher at $1,285.60. “There has been uncertainty in the market since yesterday, which has given gold a push higher.” “Some are also focusing on the tensions in the Middle East and the two catalysts are sufficient to hold prices but th


Gold prices edged higher on Tuesday as investors moved away from riskier assets after U.S. President Donald Trump threatened to raise tariffs on Chinese imports, heightening trade tensions and lifting demand for the safe-haven metal. U.S. gold futures settled $1.80 higher at $1,285.60. “There has been uncertainty in the market since yesterday, which has given gold a push higher.” “Some are also focusing on the tensions in the Middle East and the two catalysts are sufficient to hold prices but th
Gold firms as Sino-US trade spat dents risk sentiment Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-07
Keywords: news, cnbc, companies, trade, risk, firms, trump, trumps, higher, dents, market, prices, gold, yesterday, spat, sentiment, sinous, states, united


Gold firms as Sino-US trade spat dents risk sentiment

Gold prices edged higher on Tuesday as investors moved away from riskier assets after U.S. President Donald Trump threatened to raise tariffs on Chinese imports, heightening trade tensions and lifting demand for the safe-haven metal.

Spot gold was up 0.1 percent at $1,281.04 an ounce.

U.S. gold futures settled $1.80 higher at $1,285.60.

“Donald Trump tweets over the weekend and reactions out of China has sent shockwaves. European equities are further down this morning and this is a situation where gold is seen as a safe-haven,” said Quantitative Commodity Research analyst Peter Fertig.

“There has been uncertainty in the market since yesterday, which has given gold a push higher.”

U.S. President Donald Trump said that tariffs on $200 billion worth of Chinese goods would increase to 25 percent from 10 percent on Friday, reversing a decision he made in February to keep them at 10 percent as the two sides made progress on trade talks.

Trump’s tariff threat weighed across equity markets around the world, in turn supporting gold, which is used by investors to hedge against economic and political instability.

“There are significant catalysts for gold with the escalations on the trade-war front yesterday, but it is surprising we have not seen a significant follow through,” said Stephen Innes, head of trading and market strategy at SPI Asset Management.

Adding to the sentiment, Trump’s national security adviser John Bolton on Sunday said that the United States was deploying a carrier strike group and a bomber task force to the Middle East to send a clear message to Iran.

“Some are also focusing on the tensions in the Middle East and the two catalysts are sufficient to hold prices but there is a general reluctance to push prices higher over $1,285,” Innes added.

A faction of the market still expects the United States and China to find common ground and believes that Trump’s tariff threat is likely to be a negotiation tactic.

China’s commerce ministry confirmed on Tuesday that Vice Premier Liu He will visit the United States over May 9-10 for bilateral trade talks at the invitation of senior U.S. officials.

Meanwhile, holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, continued a dismal run as it fell by 0.16 percent to 739.64 tonnes on Monday, its lowest since Oct. 11.

Among other metals, silver was down 0.4 percent at $14.84 an ounce, platinum was little changed at $872.44 and palladium gained 0.2 percent to $1,339.32.


Company: cnbc, Activity: cnbc, Date: 2019-05-07
Keywords: news, cnbc, companies, trade, risk, firms, trump, trumps, higher, dents, market, prices, gold, yesterday, spat, sentiment, sinous, states, united


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