European stocks climb as China’s GDP grows as expected; Stoxx 600 hits record high; Casino down 12%

European stocks advanced on Friday after China’s GDP (gross domestic product) numbers grew in line with expectations, lifting global markets. The pan-European Stoxx 600 added 0.7% in early trade to reach a fresh record high, basic resources jumping 1.2% to lead gains as all sectors and major bourses traded in positive territory. Markets in Asia rose on Friday in response to the figures, with Hong Kong’s Hang Seng index adding 0.5% to lead gains. A strong handover from Wall Street, which saw the


European stocks advanced on Friday after China’s GDP (gross domestic product) numbers grew in line with expectations, lifting global markets.
The pan-European Stoxx 600 added 0.7% in early trade to reach a fresh record high, basic resources jumping 1.2% to lead gains as all sectors and major bourses traded in positive territory.
Markets in Asia rose on Friday in response to the figures, with Hong Kong’s Hang Seng index adding 0.5% to lead gains.
A strong handover from Wall Street, which saw the
European stocks climb as China’s GDP grows as expected; Stoxx 600 hits record high; Casino down 12% Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: elliot smith
Keywords: news, cnbc, companies, grew, trade, sales, high, stoxx, climb, hong, european, major, lead, strong, hits, positive, gdp, expected, record, stocks, grows, richemont


European stocks climb as China's GDP grows as expected; Stoxx 600 hits record high; Casino down 12%

European stocks advanced on Friday after China’s GDP (gross domestic product) numbers grew in line with expectations, lifting global markets.

The pan-European Stoxx 600 added 0.7% in early trade to reach a fresh record high, basic resources jumping 1.2% to lead gains as all sectors and major bourses traded in positive territory.

The world’s second-largest economy grew by 6.1% in 2019, its slowest in 29 years but meeting analyst expectations even amid the protracted trade war with the U.S., which reached a truce this week after Washington and Beijing signed an initial “phase one” trade deal.

Markets in Asia rose on Friday in response to the figures, with Hong Kong’s Hang Seng index adding 0.5% to lead gains. A strong handover from Wall Street, which saw the S&P 500 hit record highs on Thursday following a host of strong earnings reports from major banks, also offered positive momentum.

In corporate news, Swiss luxury goods giant Richemont on Friday reported a slowdown in sales growth as political unrest in Hong Kong weighed on its fourth-quarter turnover. Richemont shares climbed 4.9% in early trade.

Volkswagen CEO Herbert Diess said on Thursday that the German carmaker must accelerate urgent reforms to its business in order to avoid the same fate as Nokia, which relinquished its handset market dominance to Apple, Reuters reported.

Investors will also be monitoring key December inflation data and November construction output figures out of the euro area, due at 10 a.m. London time on Friday. U.K. retail sales are due at 9:30 a.m.


Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: elliot smith
Keywords: news, cnbc, companies, grew, trade, sales, high, stoxx, climb, hong, european, major, lead, strong, hits, positive, gdp, expected, record, stocks, grows, richemont


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China’s December home price growth hits slowest annual pace in almost 1-1/2 years

China’s new home prices grew at their weakest pace in 17 months in December, with broader curbs on the sector continuing to cool the market in a further blow to the sputtering economy. It was the slowest pace since July 2018, and significantly weaker than the 9.7% gain seen in December 2018. With the pace of China’s economic growth slowing, policymakers are keen to avoid wholesale squashing of the property market. There has been some signs of improvement in demand and prices across the sector si


China’s new home prices grew at their weakest pace in 17 months in December, with broader curbs on the sector continuing to cool the market in a further blow to the sputtering economy.
It was the slowest pace since July 2018, and significantly weaker than the 9.7% gain seen in December 2018.
With the pace of China’s economic growth slowing, policymakers are keen to avoid wholesale squashing of the property market.
There has been some signs of improvement in demand and prices across the sector si
China’s December home price growth hits slowest annual pace in almost 1-1/2 years Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-16
Keywords: news, cnbc, companies, property, 112, hits, pace, price, worlds, weakest, sector, prices, growth, demand, cities, chinas, slowest, annual


China's December home price growth hits slowest annual pace in almost 1-1/2 years

Buildings and skyscrapers in Jing’an district on October 18, 2018 in Shanghai, China.

China’s new home prices grew at their weakest pace in 17 months in December, with broader curbs on the sector continuing to cool the market in a further blow to the sputtering economy.

Average new home prices in China’s 70 major cities rose 6.6% in December, slowing from a 7.1% gain in the previous month, Reuters calculation based on National Bureau of Statistics (NBS) data on Thursday.

It was the slowest pace since July 2018, and significantly weaker than the 9.7% gain seen in December 2018.

Price trends have been mixed lately, as authorities try to reduce frothiness in some cities and relax rules in others in an effort to foster stability in a sector seen as a pillar of the world’s second-biggest economy.

Many analysts are forecasting a further slowdown in the market.

“The market has hit a turning point,” said Zhang Dawei, a Beijing-based analyst with property agency Centaline.

Zhang said the NBS data did not fully reflect the downturn in some markets, including in the Chinese capital Beijing, where inventory is at a multi-year high.

“In a downward cycle, most cities’ government-mandated price caps on new launches have been lifted, and that would mean even as overall demand has cooled, prices would still somehow show stronger growth on paper,” he said.

All the same, home prices still marked the 56th straight month of gains, even as China has clamped down on property speculation since 2016 to stop home prices from overheating.

With the pace of China’s economic growth slowing, policymakers are keen to avoid wholesale squashing of the property market.

There has been some signs of improvement in demand and prices across the sector since late last year as trade tensions with the United States eased.

In the latest sign of warmer ties, the world’s two largest economies signed an initial trade deal on Wednesday that will roll back some tariffs and boost Chinese purchases of U.S. products, although a number of sore spots remained unresolved.

A Reuters poll this week showed China’s economic growth likely hovered at its weakest in nearly 30 years in the fourth quarter as demand at home and abroad remained sluggish.


Company: cnbc, Activity: cnbc, Date: 2020-01-16
Keywords: news, cnbc, companies, property, 112, hits, pace, price, worlds, weakest, sector, prices, growth, demand, cities, chinas, slowest, annual


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Alphabet, Google’s parent company, hits trillion-dollar market cap for first time

Apple was the first to hit the market cap milestone in 2018. Google parent-company Alphabet has hit $1 trillion in market capitalization, making it the fourth U.S. company to hit the milestone. Shares of Google’s parent company rose nearly 1% after Bank of America raised its price target on Alphabet’s stock in January, saying it sees a healthy advertising business for Alphabet among other things. The stock dropped 7.5%, shaving more than $67 billion from its market cap. The company’s stock fell


Apple was the first to hit the market cap milestone in 2018.
Google parent-company Alphabet has hit $1 trillion in market capitalization, making it the fourth U.S. company to hit the milestone.
Shares of Google’s parent company rose nearly 1% after Bank of America raised its price target on Alphabet’s stock in January, saying it sees a healthy advertising business for Alphabet among other things.
The stock dropped 7.5%, shaving more than $67 billion from its market cap.
The company’s stock fell
Alphabet, Google’s parent company, hits trillion-dollar market cap for first time Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: jennifer elias
Keywords: news, cnbc, companies, parent, cap, microsoft, advertising, billion, trilliondollar, including, page, hits, googles, stock, companys, alphabet, company, market


Alphabet, Google's parent company, hits trillion-dollar market cap for first time

Analysts are bullish on the company’s newly appointed CEO, Sundar Pichai. In a surprise announcement in December 2019, Alphabet founder Larry Page announced plans to step down as CEO, along with co-founder and president Sergey Brin.

Apple was the first to hit the market cap milestone in 2018. Then, Microsoft and Amazon followed. Apple and Microsoft are still valued at more than a trillion dollars while Amazon has since fallen below the mark.

Google parent-company Alphabet has hit $1 trillion in market capitalization, making it the fourth U.S. company to hit the milestone.

Pichai had already been the CEO of Google, which includes all the company’s core businesses — including search, advertising, YouTube and Android — and generates substantially all its revenue and profits. But he reported to Page, who also oversaw other businesses making long-term bets on experimental technology like self-driving cars and package delivery drones. Now, he’s in charge of the whole conglomerate, although Page and Brin still have control over most of the company’s voting shares, giving them significant influence in major decisions.

Optimism also comes from the company’s growth in its Cloud business, which — while still far behind the leader Amazon and runner-up Microsoft — doubled its revenue run rate from $1 billion to $2 billion per quarter between Feb. 2018 and July 2019. The company expects similar growth in the year ahead as it continues pouring extensive resources, including tripling its sales force and boosting its Google Cloud Health segment. However, the business does face challenges as it contends with issues surrounding trust perceptions.

Some analyst firms have also noted the company’s stabilized advertising business.

In December, Stifel hiked its price target for Alphabet to $1,525 from $1,325, a 14% upside. Shares of Google’s parent company rose nearly 1% after Bank of America raised its price target on Alphabet’s stock in January, saying it sees a healthy advertising business for Alphabet among other things.

That would be a reversal from recent trends: Last spring, Alphabet closed its worst day since April 2010 after reporting slowing advertising numbers. The stock dropped 7.5%, shaving more than $67 billion from its market cap.

Then, during its third-quarter earnings, it missed earnings per share expectations and showed slowing profit. The company’s stock fell as much as 4% in after hours trading, but eventually recovered at 2%.

The company also faces a number of cultural clashes including a fresh investigation by the U.S. National Labor Relations Board and various state and federal antitrust probes.

With a roughly $620 billion valuation, Facebook appears to be the next likely trillion-dollar tech contender.

Alphabet reports fourth-quarter and full-year 2019 earnings on Feb. 3.


Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: jennifer elias
Keywords: news, cnbc, companies, parent, cap, microsoft, advertising, billion, trilliondollar, including, page, hits, googles, stock, companys, alphabet, company, market


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Your happiness is more likely to hit rock bottom at age 47.2—but there’s an upside, says new research

Blanchflower, 67, tells CNBC Make It that the findings also extend to his personal life. “There’s a midlife crisis with a low point around age 50, which was my low point of happiness, too,” he says. The transition from being a junior-level employee to taking on more responsibilities can have a negative impact on happiness levels, Tess Brigham, a San Francisco-based therapist, tells CNBC Make It. That can cause anxiety,” she tells CNBC Make It. The larger economic and political climate seems to h


Blanchflower, 67, tells CNBC Make It that the findings also extend to his personal life.
“There’s a midlife crisis with a low point around age 50, which was my low point of happiness, too,” he says.
The transition from being a junior-level employee to taking on more responsibilities can have a negative impact on happiness levels, Tess Brigham, a San Francisco-based therapist, tells CNBC Make It.
That can cause anxiety,” she tells CNBC Make It.
The larger economic and political climate seems to h
Your happiness is more likely to hit rock bottom at age 47.2—but there’s an upside, says new research Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: jennifer liu
Keywords: news, cnbc, companies, theres, age, 472but, tells, blanchflower, rock, point, upside, research, happiness, levels, looking, hits, likely, hit


Your happiness is more likely to hit rock bottom at age 47.2—but there's an upside, says new research

The midlife crisis is alive and well — and it hits especially hard at age after age 47, according to new research from David Blanchflower, an economics professor at Dartmouth College. Blanchflower recently released two working papers (with the National Bureau of Economic Research) that examines the levels of happiness and unhappiness over a person’s lifetime. After looking at data from roughly 500,000 individuals in 132 countries, he found that happiness for people in advanced countries bottoms out at age 47.2. In developing countries, it reaches its lowest point at age 48.2. Blanchflower, 67, tells CNBC Make It that the findings also extend to his personal life. “There’s a midlife crisis with a low point around age 50, which was my low point of happiness, too,” he says. “But there’s evidence that, for most people, things do get better from then on.”

Why happiness hits rock bottom at 47.2

Blanchflower’s study, which controlled for gender, education, marital status and labor force status, further supports the “happiness curve” theory, which states that our happiness levels fall in the first decades of adulthood, and then hits bottom in our late 40s or 50s before rebounding upward. And it makes sense: Most people in their late-40s are part of what’s known as the “sandwich generation” — or those who care for aging parents and their own family at the same time. “Financially, they may be helping to support the health care needs of their parents, while simultaneously paying for their kids’ education,” Johnny Taylor, president and CEO of the Society for Human Resource Management, tells CNBC Make It. “That stress shows up and impacts work.” Workers in their late-40s are also more likely to be in middle management positions. The transition from being a junior-level employee to taking on more responsibilities can have a negative impact on happiness levels, Tess Brigham, a San Francisco-based therapist, tells CNBC Make It. Furthermore, they might be reaching a peak in their careers — where there’s little room for advancement and retirement prospects are still decades away. “Satisfaction at work is closely correlated to overall satisfaction in life,” explains Taylor. “People increasingly admit they largely define themselves by their career achievements.” Regret and uncertainty may play another role, according to Neda Gould, a clinical psychologist and director of the Mindfulness Program at Johns Hopkins. “We’re looking back at experiences we may regret, and then we’re looking forward and wondering what the next phase may look like. That can cause anxiety,” she tells CNBC Make It. The larger economic and political climate seems to have an impact on happiness levels, too. As Blanchflower writes, “The middle-aged have had particular difficulties in adapting in the years of slow growth since the Great Recession [of 2008 and 2009]. The interaction between a nadir for happiness among the middle aged along with a major downturn has had major social, political and health consequences that have reverberated around the world.”

The happiness rebound


Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: jennifer liu
Keywords: news, cnbc, companies, theres, age, 472but, tells, blanchflower, rock, point, upside, research, happiness, levels, looking, hits, likely, hit


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Weekly mortgage applications soar 30% as homebuyer demand hits the highest level in 11 years

It was a seriously strong start to 2020 in the mortgage business for new home loans and refinances. Total mortgage application volume surged 30.2% last week from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Refinancing led the surge, thanks to a drop in mortgage rates. The refinance share of mortgage activity increased to 62.9% of total applications from 58.9% the previous week. Purchase mortgage activity hit the highest level since October 2009.


It was a seriously strong start to 2020 in the mortgage business for new home loans and refinances.
Total mortgage application volume surged 30.2% last week from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index.
Refinancing led the surge, thanks to a drop in mortgage rates.
The refinance share of mortgage activity increased to 62.9% of total applications from 58.9% the previous week.
Purchase mortgage activity hit the highest level since October 2009.
Weekly mortgage applications soar 30% as homebuyer demand hits the highest level in 11 years Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-15  Authors: diana olick, in dianaolick
Keywords: news, cnbc, companies, volume, rate, homebuyer, week, rates, soar, mortgage, loans, activity, applications, weekly, demand, strong, supply, highest, hits, level


Weekly mortgage applications soar 30% as homebuyer demand hits the highest level in 11 years

It was a seriously strong start to 2020 in the mortgage business for new home loans and refinances.

Total mortgage application volume surged 30.2% last week from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index.

Refinancing led the surge, thanks to a drop in mortgage rates. Those applications jumped 43% for the week and were 109% higher than a year ago. The refinance share of mortgage activity increased to 62.9% of total applications from 58.9% the previous week.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($510,400 or less) decreased to the lowest level since September, 3.87%, from 3.91%, with points decreasing to 0.32 from 0.34 (including the origination fee) for loans with a 20% down payment. The rate was 87 basis points higher the same week one year ago.

“Refinances increased for both conventional and government loans, as lower rates provided a larger incentive for borrowers to act,” said Joel Kan, an MBA economist. “It remains to be seen if this strong refinancing pace is sustainable, but even with the robust activity the last two weeks, the level is still below what occurred last fall.”

Homebuyers also rushed in, sending purchase application volume up 16% for the week and up 8% from one year ago. Purchase mortgage activity hit the highest level since October 2009. Demand is so strong that real estate agents offered open houses on new properties the first weekend of the new year. Usually, they wait until February.

“Homebuyers were active the first week of the year. Low rates and the solid job market continue to encourage prospective buyers to enter the market,” Kan said.

Unfortunately, buyer demand is bumping up against near record-low supply. Price gains have reaccelerated, and if supply doesn’t improve markedly, some of the tightest markets will overheat quickly, leaving less affluent buyers out in the cold.


Company: cnbc, Activity: cnbc, Date: 2020-01-15  Authors: diana olick, in dianaolick
Keywords: news, cnbc, companies, volume, rate, homebuyer, week, rates, soar, mortgage, loans, activity, applications, weekly, demand, strong, supply, highest, hits, level


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Whitney Houston, Notorious B.I.G. and Nine Inch Nails will be inducted into the Rock & Roll Hall of Fame

will lead a new class into the Rock and Roll Hall of Fame, joined by Depeche Mode, the Doobie Brothers, Nine Inch Nails, and T-Rex. 1 singles: “Saving All My Love for You,” “How Will I Know” and “The Greatest Love of All.” Leader Trent Reznor has become a go-to soundtrack producer in addition to his continued work with Nine Inch Nails. The Doobie Brothers weren’t critical favourites, but they had some indelible rock hits in the 1970s, including “Listen to the Music,” “Black Water” and “China Gro


will lead a new class into the Rock and Roll Hall of Fame, joined by Depeche Mode, the Doobie Brothers, Nine Inch Nails, and T-Rex.
1 singles: “Saving All My Love for You,” “How Will I Know” and “The Greatest Love of All.”
Leader Trent Reznor has become a go-to soundtrack producer in addition to his continued work with Nine Inch Nails.
The Doobie Brothers weren’t critical favourites, but they had some indelible rock hits in the 1970s, including “Listen to the Music,” “Black Water” and “China Gro
Whitney Houston, Notorious B.I.G. and Nine Inch Nails will be inducted into the Rock & Roll Hall of Fame Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-15
Keywords: news, cnbc, companies, singles, induction, rap, inducted, whitney, fame, nails, manager, rock, roll, houston, leader, hits, mode, love, music, inch, notorious, hall


Whitney Houston, Notorious B.I.G. and Nine Inch Nails will be inducted into the Rock & Roll Hall of Fame

The annual induction ceremony will take place May 2 at the Public Auditorium in Cleveland, the city where the rock museum is located. The Saturday night show will be on HBO, televised live for the first time.

The gospel-trained Houston, whose soaring voice transformed the Dolly Parton cover “I Will Always Love You” into a gigantic hit, was one of four artists elected after being on the ballot for the first time. The Doobie Brothers, Biggie and T-Rex were the others.

Posthumous inductees Whitney Houston and The Notorious B.I.G. will lead a new class into the Rock and Roll Hall of Fame, joined by Depeche Mode, the Doobie Brothers, Nine Inch Nails, and T-Rex.

Houston, who succumbed to years of drug abuse in 2012, was an instant success after being signed to a record contract at age 19. Her 1985 debut had three No. 1 singles: “Saving All My Love for You,” “How Will I Know” and “The Greatest Love of All.” She had seven consecutive singles top the charts, a first for any artist.

The daughter of gospel singer Cissy Houston and cousin of Dionne Warwick, she grew up in the business.

The imposing, Brooklyn-born rap artist Christopher Wallace took on the identities of The Notorious B.I.G. and Biggie Smalls and was massively influential as rap became music’s dominant style in the 1990s. With hits like “Juicy” and “Big Poppa,” he was the leader of an East Coast school of rap that found itself in a bitter rivalry with artists from the West Coast.

He was killed in a still-unsolved drive-by shooting in Los Angeles at age 24 in 1997. On the album, “Life After Death,” with hits like “Mo Money Mo Problems” and “Hypnotize,” he became the first artist to earn multiple No. 1 singles after his death.

Depeche Mode remains active, but its biggest influence came in the 1980s, when its post-punk, synthesizer-dominated music made the Brits a favourite of the goth subculture. Hits included “Personal Jesus,” “Just Can’t Get Enough” and “Enjoy the Silence.”

Depeche Mode shares with fellow inductees Nine Inch Nails the honour of having one of their signature songs covered by country legend Johnny Cash, who recorded “Personal Jesus” and NIN’s “Hurt” during his late-career resurgence.

With songs like “Closer,” NIN was a leader of the industrial rock movement in the 1990s. Like Green Day, a memorable performance in the mud at Woodstock ’94 brought them a wider audience. Leader Trent Reznor has become a go-to soundtrack producer in addition to his continued work with Nine Inch Nails.

The Doobie Brothers weren’t critical favourites, but they had some indelible rock hits in the 1970s, including “Listen to the Music,” “Black Water” and “China Grove.” They’re embarking on a 50th anniversary tour this summer, bringing members Michael McDonald, Pat Simmons, Tom Johnston and John McFee together for the first time in 25 years, and a rock hall induction makes for perfect publicity.

The British band T-Rex was know primarily for its 1970s hit “Bang a Gong (Get it On)” and, to a lesser extent, “Jeepster.” The death of leader Marc Bolan in 1977 ended the band.

The two non-performing inductees may be able to bring some star power with them. Music manager Irving Azoff has watched the finances for several bands, but is best-known as the manager of the Eagles since 1974. Jon Landau is a former music journalist, known for an indelible line when he saw a concert by a little-known artist in 1974: “I saw rock ‘n’ roll’s future and its name is Bruce Springsteen.” Shortly thereafter, he became Springsteen’s manager, a job he still holds today.

Tickets for the induction ceremony go on sale Feb. 27. Performers will be announced at a later date.


Company: cnbc, Activity: cnbc, Date: 2020-01-15
Keywords: news, cnbc, companies, singles, induction, rap, inducted, whitney, fame, nails, manager, rock, roll, houston, leader, hits, mode, love, music, inch, notorious, hall


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Global debt hits new record of $253 trillion and is set to grow even more this year

Total worldwide debt sat close to a record $253 trillion by the end of September, boosted mainly by higher borrowing by governments and non-financial corporates. This represented an increase from $250.9 trillion at the end of the second quarter of 2019. “Spurred by low interest rates and loose financial conditions, we estimate that total global debt will exceed $257 trillion in the first quarter of 2020, driven mainly by non-financial sector debt,” the IIF said in the report. The group is an ass


Total worldwide debt sat close to a record $253 trillion by the end of September, boosted mainly by higher borrowing by governments and non-financial corporates.
This represented an increase from $250.9 trillion at the end of the second quarter of 2019.
“Spurred by low interest rates and loose financial conditions, we estimate that total global debt will exceed $257 trillion in the first quarter of 2020, driven mainly by non-financial sector debt,” the IIF said in the report.
The group is an ass
Global debt hits new record of $253 trillion and is set to grow even more this year Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-14  Authors: silvia amaro
Keywords: news, cnbc, companies, rates, quarter, governments, trillion, global, total, 253, nonfinancial, interest, hits, set, iif, debt, record, grow, mainly


Global debt hits new record of $253 trillion and is set to grow even more this year

The world’s debt when compared against its total output hit another all-time high of over 322% in the third quarter of 2019 and it is set to keep growing, the Institute of International Finance (IIF) said in a new research report.

Total worldwide debt sat close to a record $253 trillion by the end of September, boosted mainly by higher borrowing by governments and non-financial corporates. This represented an increase from $250.9 trillion at the end of the second quarter of 2019.

“Spurred by low interest rates and loose financial conditions, we estimate that total global debt will exceed $257 trillion in the first quarter of 2020, driven mainly by non-financial sector debt,” the IIF said in the report. The group is an association of financial institutions that came together in response to the debt crisis of the 1980s.

Record-low interest rates in countries around the globe have made it easier and more attractive for corporates, individuals and governments to borrow, and thus incur more debt.


Company: cnbc, Activity: cnbc, Date: 2020-01-14  Authors: silvia amaro
Keywords: news, cnbc, companies, rates, quarter, governments, trillion, global, total, 253, nonfinancial, interest, hits, set, iif, debt, record, grow, mainly


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Average FICO score hits record high—here’s the average credit score in every state

Key findingsThe average FICO score in the U.S. hit a record high of 703 in 2019Minnesota residents have the highest average credit score for the eighth consecutive year at 731Mississippi residents have the lowest average credit score at 66759% of Americans have a FICO score of 700 or higher — the biggest percentage ever seen at that levelFICO score rangesCredit score ranges vary based on the credit scoring model used (FICO versus VantageScore) and the credit bureau (Experian, Equifax and TransUn


Key findingsThe average FICO score in the U.S. hit a record high of 703 in 2019Minnesota residents have the highest average credit score for the eighth consecutive year at 731Mississippi residents have the lowest average credit score at 66759% of Americans have a FICO score of 700 or higher — the biggest percentage ever seen at that levelFICO score rangesCredit score ranges vary based on the credit scoring model used (FICO versus VantageScore) and the credit bureau (Experian, Equifax and TransUn
Average FICO score hits record high—here’s the average credit score in every state Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-13  Authors: alexandria white
Keywords: news, cnbc, companies, states, score, credit, scores, highheres, record, 723, fico, average, state, 727, highest, hits, 680


Average FICO score hits record high—here's the average credit score in every state

Key findings

The average FICO score in the U.S. hit a record high of 703 in 2019

Minnesota residents have the highest average credit score for the eighth consecutive year at 731

Mississippi residents have the lowest average credit score at 667

59% of Americans have a FICO score of 700 or higher — the biggest percentage ever seen at that level

FICO score ranges

Credit score ranges vary based on the credit scoring model used (FICO versus VantageScore) and the credit bureau (Experian, Equifax and TransUnion) that pulls the score. Previously Experian used VantageScores in their Consumer Credit Review, but switched to FICO scores in 2019. This is a welcome change since lenders opt to use FICO scores in 90% of U.S. lending decisions. Here are the FICO score ranges, based on estimates from Experian. Very poor: 300 to 579

300 to 579 Fair: 580 to 669

580 to 669 Good: 670 to 739

670 to 739 Very good: 740 to 799

740 to 799 Excellent: 800 to 850 Take action: Check your credit score for free

Top 10 states with the highest credit scores

Similar to prior years, Midwestern states have the highest average credit scores. Minnesota topped the list for the highest average FICO score (733) for the eighth straight year. And Wisconsin jumped up seven points from 2018 to round out the top five states. Minnesota: 733 North Dakota: 727 South Dakota: 727 Vermont: 726 Wisconsin: 725 New Hampshire: 724 Hawaii: 723 Massachusetts: 723 Nebraska: 723 Washington: 723

Top 10 states with the lowest credit scores

Southern states have lower average credit scores than the rest of the U.S., and Mississippi ranks as the worst with an average 667 FICO score. The three states (Mississippi, Louisiana, Alabama) with the lowest credit scores remained the same as 2018, but each state increased scores by up to two points. Mississippi: 667 Louisiana: 677 Alabama: 680 Texas: 680 South Carolina: 681 Georgia: 682 Oklahoma: 682 Arkansas: 683 Nevada: 686 New Mexico: 686

Average FICO Scores by state State 2018 2019 Alabama 680 680 Alaska 704 707 Arizona 694 696 Arkansas 683 683 California 706 708 Colorado 716 718 Connecticut 716 717 Delaware 700 701 District Of Columbia 700 703 Florida 694 694 Georgia 680 682 Hawaii 721 723 Idaho 710 711 Illinois 709 709 Indiana 698 699 Iowa 720 720 Kansas 711 711 Kentucky 691 692 Louisiana 675 677 Maine 712 715 Maryland 701 704 Massachusetts 721 723 Michigan 705 706 Minnesota 732 733 Mississippi 666 667 Missouri 700 701 Montana 718 720 Nebraska 722 723 Nevada 684 686 New Hampshire 722 724 New Jersey 713 714 New Mexico 685 686 New York 710 712 North Carolina 693 694 North Dakota 726 727 Ohio 704 705 Oklahoma 682 682 Oregon 716 718 Pennsylvania 711 713 Rhode Island 710 713 South Carolina 680 681 South Dakota 727 727 Tennessee 689 690 Texas 680 680 Utah 714 716 Vermont 725 726 Virginia 708 709 Washington 721 723 West Virginia 686 687 Wisconsin 718 725 Wyoming 710 710 Wyoming 711 712 Source: Experian

How to raise your credit score

If you have a credit score lower than the average 703, consider following these simple tips to improve your credit. And even if you have a 703 or higher credit score, it’s important to stick to these actions. Make on time payments Payment history is the most important factor of your credit score, so it’s key to always pay on time. Set up autopay or reminders to ensure you don’t miss a bill. Pay in full While you should always make at least your minimum payment, we recommend paying your bill in full every month to reduce your utilization rate (your total credit card balance divided by your total available credit) and avoid paying high interest charges. Don’t open too many accounts at once Each time you apply for credit, whether it’s a credit card or loan, an inquiry appears on your credit report. This temporarily dings your credit score about five points, though it will bounce back within a few months. Try to limit applications as needed and shop around with prequalification tools that don’t hurt your credit score. Latest: Americans have an average of 4 credit cards—Is that too many credit cards?

Alaskans carry the highest credit card balance, on average $8,026—Here’s the average credit card balance in every state

Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the CNBC Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.


Company: cnbc, Activity: cnbc, Date: 2020-01-13  Authors: alexandria white
Keywords: news, cnbc, companies, states, score, credit, scores, highheres, record, 723, fico, average, state, 727, highest, hits, 680


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Tesla stock hits $500 for the first time

Tesla Inc CEO Elon Musk takes off his coat onstage during a delivery event for Tesla China-made Model 3 cars in Shanghai, China January 7, 2020. Tesla stock continued to rally on Monday, rising 5% and passing $500 per share for the first time. That puts Tesla at a fresh all-time high as it continues to soar on its entrance into China and optimistic delivery figures. Tesla stock has been on a tear this quarter after announcing surprise profits in its third-quarter earnings report in October of la


Tesla Inc CEO Elon Musk takes off his coat onstage during a delivery event for Tesla China-made Model 3 cars in Shanghai, China January 7, 2020.
Tesla stock continued to rally on Monday, rising 5% and passing $500 per share for the first time.
That puts Tesla at a fresh all-time high as it continues to soar on its entrance into China and optimistic delivery figures.
Tesla stock has been on a tear this quarter after announcing surprise profits in its third-quarter earnings report in October of la
Tesla stock hits $500 for the first time Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-13  Authors: william feuer
Keywords: news, cnbc, companies, value, market, tesla, stock, 500, total, ford, equity, delivery, hits, share, billion


Tesla stock hits $500 for the first time

Tesla Inc CEO Elon Musk takes off his coat onstage during a delivery event for Tesla China-made Model 3 cars in Shanghai, China January 7, 2020.

Tesla stock continued to rally on Monday, rising 5% and passing $500 per share for the first time.

That puts Tesla at a fresh all-time high as it continues to soar on its entrance into China and optimistic delivery figures. The stock has more than doubled over the past three months, according to FactSet.

The recent gains bring Tesla’s market cap to about $90 billion, which is nearly $5 billion more than that of General Motors and Ford combined. The companies’ market caps, which measures the value of their outstanding equity, don’t tell the full story, though.

Taking into account equity, debt and cash, the Detroit automakers have significantly higher total valuations. Ford would be worth the most with a total enterprise value of $154 billion, followed by GM at $132 billion, according to data compiled by FactSet.

Tesla stock has been on a tear this quarter after announcing surprise profits in its third-quarter earnings report in October of last year. Back then, the stock was just over $250 per share.


Company: cnbc, Activity: cnbc, Date: 2020-01-13  Authors: william feuer
Keywords: news, cnbc, companies, value, market, tesla, stock, 500, total, ford, equity, delivery, hits, share, billion


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Dow hits 29,000 – four experts weigh in on what comes next

The Dow Jones Industrial Average on Friday broke above 29,000 for the first time ever. Four experts discuss the record and what it means for the rest of 2020. Andrew Slimmon, senior portfolio manager at Morgan Stanley Investment Management, sees a pattern in the market’s rally. Kate Moore, head of thematic strategy for BlackRock’s global allocation investment team, said a looming election could curtail investment spending. “Important for the Fed is the delineation between the stock market indice


The Dow Jones Industrial Average on Friday broke above 29,000 for the first time ever.
Four experts discuss the record and what it means for the rest of 2020.
Andrew Slimmon, senior portfolio manager at Morgan Stanley Investment Management, sees a pattern in the market’s rally.
Kate Moore, head of thematic strategy for BlackRock’s global allocation investment team, said a looming election could curtail investment spending.
“Important for the Fed is the delineation between the stock market indice
Dow hits 29,000 – four experts weigh in on what comes next Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-10  Authors: keris lahiff
Keywords: news, cnbc, companies, companies, weigh, broader, 29000, market, experts, weaker, fed, think, comes, profits, dow, stock, investment, hits, economy


Dow hits 29,000 – four experts weigh in on what comes next

The Dow Jones Industrial Average on Friday broke above 29,000 for the first time ever.

Four experts discuss the record and what it means for the rest of 2020.

Andrew Slimmon, senior portfolio manager at Morgan Stanley Investment Management, sees a pattern in the market’s rally.

“Why 2019 wasn’t complicated is it followed exactly the path of 2012, 2016 which was we had a big correction in 2018 just like we did in 2015, just like we had in 2011, and people sold. We had big outflows the next year, and it takes about a year of outflows as the market rallies until people say, ‘wait a minute, I made a mistake.'”

Kate Moore, head of thematic strategy for BlackRock’s global allocation investment team, said a looming election could curtail investment spending.

“We saw a little bit of a pop post the tax cuts. You know, I know there are lots of different views on this but my core view is that in an election year, you always are going to get weaker capex. We of course have weaker capex in the second half of 2019 and people say, ‘is it going to pop back?’ But I think there’s so much uncertainty still out there in the world, even though we’re de-escalating on trade and hopefully we get the phase one deal signed next week, even though I think we have a pretty solid economy and actually some green shoots outside of the U.S., all these things should be positive and of course they’re getting represented in some of the good stock market action.”

Diane Swonk, chief economist at Grant Thornton, said the Federal Reserve could be unwittingly creating a problem for the market.

“Important for the Fed is the delineation between the stock market indices and the broader economy. 100 companies counted for 50% of profits back in the 1970s. Now only 30 major companies of the largest most profitable companies account for 50% of the profits today so the stock market is even less reflective of the overall economy so there is a bias in the broader stock market indices, that it’s not really reflecting the economy and profits in the broader economy as much as it has in the past and I think that’s really important too, but clearly that’s where the tension is. Do we risk stoking stock market bubbles and asset price bubbles instead of broader inflation as the Fed cuts rates and so far we’ve seen almost all of the Fed stimulus show up in things like asset prices.”

Jan Hatzius, chief economist at Goldman Sachs, applauded the December jobs report which came in under estimates.

“I think it’s still a very solid labor market. You saw that in the household survey as well as the employment rate which came down a little bit on an unrounded basis … so clearly we’re still making headway.”

Disclaimer


Company: cnbc, Activity: cnbc, Date: 2020-01-10  Authors: keris lahiff
Keywords: news, cnbc, companies, companies, weigh, broader, 29000, market, experts, weaker, fed, think, comes, profits, dow, stock, investment, hits, economy


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