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

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


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


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

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

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

Valuation favors international

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

Global economic rebound?

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

What to buy overseas

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

Buy international for the new decade?


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


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Australia stocks lead losses regionally as Trump says trade deal with China may be delayed

In Japan, the Nikkei 225 fell 1.03% in early trade as shares of index heavyweight Fast Retailing dropped more than 2.5%. Shares in Australia dropped in morning trade, with the S&P/ASX 200 declining more than 1.5% as shares of major miner BHP plunged beyond 2.5%. When asked if he had a deadline for the deal, he added: “I have no deadline, no.” Fox News reported that the White House still plans on moving ahead with scheduled Dec. 15 tariffs on Chinese goods notwithstanding recent efforts at a “pha


In Japan, the Nikkei 225 fell 1.03% in early trade as shares of index heavyweight Fast Retailing dropped more than 2.5%.
Shares in Australia dropped in morning trade, with the S&P/ASX 200 declining more than 1.5% as shares of major miner BHP plunged beyond 2.5%.
When asked if he had a deadline for the deal, he added: “I have no deadline, no.”
Fox News reported that the White House still plans on moving ahead with scheduled Dec. 15 tariffs on Chinese goods notwithstanding recent efforts at a “pha
Australia stocks lead losses regionally as Trump says trade deal with China may be delayed Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-04  Authors: eustance huang
Keywords: news, cnbc, companies, trade, delayed, australia, tariffs, index, shares, services, dollar, china, traded, regionally, stocks, deal, losses, fell, lead, trump


Australia stocks lead losses regionally as Trump says trade deal with China may be delayed

South Korea’s Kospi traded 0.84% lower, as shares of chipmaker SK Hynix fell 1.14% — following overnight declines of Nvidia , Micron and Advanced Micro Devices on Wall Street.

In Japan, the Nikkei 225 fell 1.03% in early trade as shares of index heavyweight Fast Retailing dropped more than 2.5%. The Topix index also declined 0.64%.

Shares in Australia dropped in morning trade, with the S&P/ASX 200 declining more than 1.5% as shares of major miner BHP plunged beyond 2.5%. Australia’s GDP data for the third quarter is expected to be out around 8:30 a.m. HK/SIN on Wednesday.

Investors have been anticipating a “phase one” trade deal between Washington and Beijing to be inked, ahead of a closely watched date of Dec. 15, when additional tariffs on Chinese exports to the U.S. are set to kick in.

But Trump told reporters on Tuesday: “In some ways, I like the idea of waiting until after the election for the China deal, but they want to make a deal now and we will see whether or not the deal is going to be right.” When asked if he had a deadline for the deal, he added: “I have no deadline, no.”

Fox News reported that the White House still plans on moving ahead with scheduled Dec. 15 tariffs on Chinese goods notwithstanding recent efforts at a “phase one” trade truce.

Meanwhile, a private survey of China’s services sector is expected on Wednesday, with the Caixin services Purchasing Managers’ Index for November set to be out around 9:45 a.m. HK/SIN.

Overnight stateside, stocks tumbled amid the trade uncertainty. The Dow Jones Industrial Average fell 280.23 points to close at 27,502.81 while the S&P 500 slipped 0.7% to end its trading day at 3,093.20. The Nasdaq Composite closed about 0.6% at 8,520.64.

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 97.737 after falling from levels above 97.9 seen earlier.

The Japanese yen traded at 108.62 against the dollar after strengthening from lows around 109.2 yesterday. The Australian dollar changed hands at $0.6851 after rising from levels below $0.684 in the previous session.

What’s on tap:

Australia: Third quarter GDP data at 8:30 a.m. HK/SIN

China: Caixin services Purchasing Managers’ Index at 9:45 a.m. HK/SIN

— CNBC’s Thomas Franck contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-12-04  Authors: eustance huang
Keywords: news, cnbc, companies, trade, delayed, australia, tariffs, index, shares, services, dollar, china, traded, regionally, stocks, deal, losses, fell, lead, trump


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November ISM non-manufacturing index shows sector slowing

U.S. services sector activity slowed more than expected in November amid lingering concerns about trade tensions and worker shortages, which could revive fears about the economy’s health. The Institute for Supply Management (ISM) said on Wednesday its non-manufacturing activity index fell to a reading of 53.9 in last month from 54.7 in October. A reading above 50 indicates expansion in the services sector, which accounts for more than two-thirds of U.S. economic activity. Economists polled by Re


U.S. services sector activity slowed more than expected in November amid lingering concerns about trade tensions and worker shortages, which could revive fears about the economy’s health.
The Institute for Supply Management (ISM) said on Wednesday its non-manufacturing activity index fell to a reading of 53.9 in last month from 54.7 in October.
A reading above 50 indicates expansion in the services sector, which accounts for more than two-thirds of U.S. economic activity.
Economists polled by Re
November ISM non-manufacturing index shows sector slowing Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-04  Authors: jeff cox
Keywords: news, cnbc, companies, activity, index, month, sector, manufacturing, ism, slowing, nonmanufacturing, trade, reading, services, shows, fourth


November ISM non-manufacturing index shows sector slowing

Lead waitress Rhonda Abdullah serving the Taylor’s, James and Voncia of Aurora their lunch at the Welton Street Cafe that will turn 20 this year, the last-standing soul food restaurant in the Five Points neighborhood in Denver, Colorado on June 7, 2019.

U.S. services sector activity slowed more than expected in November amid lingering concerns about trade tensions and worker shortages, which could revive fears about the economy’s health.

The Institute for Supply Management (ISM) said on Wednesday its non-manufacturing activity index fell to a reading of 53.9 in last month from 54.7 in October. A reading above 50 indicates expansion in the services sector, which accounts for more than two-thirds of U.S. economic activity.

Economists polled by Reuters had forecast the index dipping to a reading of 54.5 in November.

The ISM reported on Monday that manufacturing activity contracted for the fourth straight month in November, with new orders falling back to around their lowest level since 2012. The continued manufacturing slump tempered growth expectations for the fourth quarter, which had been boosted by a rush of upbeat reports on the trade deficit, housing and business investment.


Company: cnbc, Activity: cnbc, Date: 2019-12-04  Authors: jeff cox
Keywords: news, cnbc, companies, activity, index, month, sector, manufacturing, ism, slowing, nonmanufacturing, trade, reading, services, shows, fourth


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Asia stocks drop amid trade uncertainty; RBA rate decision ahead

The Reserve Bank of Australia’s interest rate decision is set to be out around 11:30 a.m. HK/SIN on Tuesday. The Nikkei 225 in Japan fell 1.28% in early trade, with shares of index heavyweight and robot maker Fanuc declining more than 1.4%. To exacerbate concerns on the trade front, Trump also said Monday he will restore tariffs on metal imports from Brazil and Argentina. The U.S. dollar index, which tracks the greenback against a basket of its peers, was last at 97.856 after declining from high


The Reserve Bank of Australia’s interest rate decision is set to be out around 11:30 a.m. HK/SIN on Tuesday.
The Nikkei 225 in Japan fell 1.28% in early trade, with shares of index heavyweight and robot maker Fanuc declining more than 1.4%.
To exacerbate concerns on the trade front, Trump also said Monday he will restore tariffs on metal imports from Brazil and Argentina.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was last at 97.856 after declining from high
Asia stocks drop amid trade uncertainty; RBA rate decision ahead Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-03  Authors: eustance huang
Keywords: news, cnbc, companies, trump, market, asia, stocks, rate, decision, drop, fell, index, ahead, retail, dollar, trade, rba, tariffs, amid, uncertainty


Asia stocks drop amid trade uncertainty; RBA rate decision ahead

Market reaction to retail stocks in Hong Kong will be watched on Tuesday, after data on Monday showed total retail sales volume for October in the embattled city dropped 26.2% year-on-year — its worst decline on record, according to a Reuters report. The city has been rocked by months of anti-government protests.

Shares in Australia declined in morning trade, with the S&P/ASX 200 dropping about 1.8%. The Reserve Bank of Australia’s interest rate decision is set to be out around 11:30 a.m. HK/SIN on Tuesday.

The Nikkei 225 in Japan fell 1.28% in early trade, with shares of index heavyweight and robot maker Fanuc declining more than 1.4%. South Korea’s Kospi slipped 0.97%.

Overnight on Wall Street, stocks declined amid disappointing manufacturing data. The Dow Jones Industrial Average fell 268.37 points to 27,783.04. The S&P 500 shed 0.9% to 3,113.87 — its biggest one-day loss since Oct. 8 — while the Nasdaq Composite fell 1% to 8,567.99.

The Cboe Volatility Index, which is regarded as a top fear gauge in the market, rose to 14.3 from 12.6.

Manufacturing activity in the U.S. continued to contract last month, the Institute for Supply Management said Monday. The ISM Manufacturing PMI dipped to 48.1 in November, below an estimate of 49.4. A reading below 50 denotes contraction.

Meanwhile, uncertainty remains on the trade front. U.S. President Donald Trump said China still wants to make a deal on trade, “but we’ll see what happens.”

Investors have been monitoring developments on trade negotiations between Washington and Beijing in anticipation of an elusive “phase one” deal being reached between the two parties. If no agreement is reached by Dec. 15, additional tariffs on Chinese goods exported to the U.S. will kick in.

To exacerbate concerns on the trade front, Trump also said Monday he will restore tariffs on metal imports from Brazil and Argentina.

The U.S. dollar index, which tracks the greenback against a basket of its peers, was last at 97.856 after declining from highs above 98.3 earlier.

The Japanese yen, often seen as a safe-haven currency in times of market uncertainty, traded at 108.98 per dollar after strengthening sharply from levels above 109.5 yesterday. The Australian dollar was at $0.6821 after rising from levels below $0.678 in the previous session.

What’s on tap:


Company: cnbc, Activity: cnbc, Date: 2019-12-03  Authors: eustance huang
Keywords: news, cnbc, companies, trump, market, asia, stocks, rate, decision, drop, fell, index, ahead, retail, dollar, trade, rba, tariffs, amid, uncertainty


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A key manufacturing index shows the US remains in contraction territory

Manufacturing activity continued to lag in November amid a lag in inventories and new orders, according to the latest ISM Manufacturing reading released Monday. Though the ISM reading is usually reported as a simple number, it actually denotes the percentage of manufacturers planning to expand operations. The report shows that manufacturing “is stuck in a mild recession with little prospect of a real near-term revival. In a related release, the Markit manufacturing reading, known as the Purchasi


Manufacturing activity continued to lag in November amid a lag in inventories and new orders, according to the latest ISM Manufacturing reading released Monday.
Though the ISM reading is usually reported as a simple number, it actually denotes the percentage of manufacturers planning to expand operations.
The report shows that manufacturing “is stuck in a mild recession with little prospect of a real near-term revival.
In a related release, the Markit manufacturing reading, known as the Purchasi
A key manufacturing index shows the US remains in contraction territory Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-02  Authors: jeff cox
Keywords: news, cnbc, companies, growth, reliable, points, expansion, territory, contraction, orders, manufacturing, reading, report, key, ism, remains, trade, index, shows


A key manufacturing index shows the US remains in contraction territory

Manufacturing activity continued to lag in November amid a lag in inventories and new orders, according to the latest ISM Manufacturing reading released Monday.

The reading came in at 48.1 vs. an expectation of 49.4 and the previous month’s reading of 48.3.

Though the ISM reading is usually reported as a simple number, it actually denotes the percentage of manufacturers planning to expand operations. A reading below 50 represents contraction; November was the fourth straight month below the expansion level.

Stocks fell on the report, with the Dow Jones Industrial Average off more than 150 points at 10:30 am ET.

New orders slumped to 47.2, down 1.9 percentage points from October’s 49.1. Inventories, which are a key input for gross domestic product, came in at 45.5, down 3.4 points from the previous month.

The numbers come amid speculation about the pace of U.S. growth.

Recession worries have ebbed from earlier in the year, when the Treasury yield curve was inverted and flashing what has been a reliable 12-month recession indicator for the past 50 years. GDP growth has averaged around 2.4% in 2019, with the third quarter coming in at 2.1%. However, most forecasters expect the fourth quarter to come in under 2%.

The report shows that manufacturing “is stuck in a mild recession with little prospect of a real near-term revival. This will weigh on job growth and capex over the next few months, to the point where we are not ready to rule out a further [Federal Reserve] easing in January,” Ian Shepherdson, chief economist at Pantheon Macroeconomics, said in a note.

Manufacturing is considered a reliable bellwether for how the rest of the economy is doing, though it comprises only about one-fifth of GDP.

Nearly all of the key ISM indicators were at contraction levels in November.

Employment was at 46.6, down 1.1 point for the month, while export orders fell 2.5 points to 47.9 as the U.S. and China continue to look for a resolution to a trade dispute that began more than a year and a half ago.

Supplier deliveries was one of the few metrics in expansion, rising 2.5 points to 52.

In a related release, the Markit manufacturing reading, known as the Purchasing Managers Index, indicated expansion, coming in at 52.6, just above expectations and a bit better than the 51.3 October reading.

The Markit PMI growth reflected an uptick in production and new orders as well as strength in employment indicators. It was the strongest reading in seven months.

Investors will get a close look Friday at the impact the manufacturing slowdown and trade war have had on the broader economy. The Labor Department’s nonfarm payrolls report comes down that day, with economists surveyed by Dow Jones expecting a sharp rebound in growth to 187,000 from November’s 128,000.


Company: cnbc, Activity: cnbc, Date: 2019-12-02  Authors: jeff cox
Keywords: news, cnbc, companies, growth, reliable, points, expansion, territory, contraction, orders, manufacturing, reading, report, key, ism, remains, trade, index, shows


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Small business confidence rebounds on optimism about US-China trade deal

Resurgent optimism about the future of U.S. trade policy, along with a surprise spike in optimism about technological changes, helped lift confidence among small business owners, according to the fourth-quarter 2019 CNBC/SurveyMonkey Small Business Survey. The Small Business Confidence Index is calculated based on entrepreneurs’ responses to a set of eight questions about their businesses. Optimism about coming changes in technology also boosted the small business confidence index. Nine percent


Resurgent optimism about the future of U.S. trade policy, along with a surprise spike in optimism about technological changes, helped lift confidence among small business owners, according to the fourth-quarter 2019 CNBC/SurveyMonkey Small Business Survey.
The Small Business Confidence Index is calculated based on entrepreneurs’ responses to a set of eight questions about their businesses.
Optimism about coming changes in technology also boosted the small business confidence index.
Nine percent
Small business confidence rebounds on optimism about US-China trade deal Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-02  Authors: david spiegel, laura wronski, senior research scientist
Keywords: news, cnbc, companies, index, quarter, rebounds, business, uschina, deal, number, optimism, trade, small, owners, confidence


Small business confidence rebounds on optimism about US-China trade deal

US President Donald Trump shows a letter from Chinese President Xi Jinping as he announces an initial trade deal with China at the Oval Office of the White House in Washington, DC on October 11, 2019.

Resurgent optimism about the future of U.S. trade policy, along with a surprise spike in optimism about technological changes, helped lift confidence among small business owners, according to the fourth-quarter 2019 CNBC/SurveyMonkey Small Business Survey.

The CNBC/SurveyMonkey Small Business Confidence Index rose from 57 in the third quarter to 59 in the fourth quarter, indicating that owners are feeling better about the overall outlook for their businesses. The Small Business Confidence Index is calculated based on entrepreneurs’ responses to a set of eight questions about their businesses.

Increased optimism around trade helped the index rebound from an all-time low of 57 hit in Q3. Twenty-four percent of small business owners expect trade to have a positive effect on their businesses over the next year, up from 16% in Q3.

The Trump administration announced a “phase one” trade agreement with China last month. Despite the administration’s repeated insistence that a deal is imminent, no agreement officially has been signed. Over the weekend, there were reports that China is demanding a rollback of existing tariffs before it will agree to phase one of the trade deal. There are also some concerns that the trade deal could become intertwined with China and U.S. dueling positions on Hong Kong.

Optimism about coming changes in technology also boosted the small business confidence index. After nine quarters of virtually no movement, the number of small business owners who expect technological changes to have a positive effect on their businesses jumped from 41% to 48% this quarter. The jump is hard to explain, but was pushed by big jumps in optimism among small business owners under age 35 and among owners in the arts, entertainment and leisure industries.

Confidence rose despite a less positive outlook on overall business conditions. Nine percent of small business owners describe current business conditions as “bad,” the highest number since the fourth quarter of 2017. The number describing conditions as “good” fell from 55% in Q3 to 53%, but that number is still well above all-time lows.

This CNBC/SurveyMonkey online poll was conducted Nov. 12–18, 2019, among a national sample of 2,081 self-identified small business owners ages 18 and up.

See full results of the fourth quarter CNBC/SurveyMonkey Small Business Survey. The survey is conducted quarterly using SurveyMonkey’s online platform and based on its survey methodology.


Company: cnbc, Activity: cnbc, Date: 2019-12-02  Authors: david spiegel, laura wronski, senior research scientist
Keywords: news, cnbc, companies, index, quarter, rebounds, business, uschina, deal, number, optimism, trade, small, owners, confidence


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Cramer: I’m not worried about a December stock market drop like last year

CNBC’s Jim Cramer said Monday he doesn’t think the stock market will drop in December as it did last year. “Nothing worries me in the sense of looking for a big sell-off in December,” Cramer said on “Squawk on the Street.” But 2018 saw the S&P 500 drop more than 9% in the final month. The S&P 500 closed at a record high on Wednesday. The S&P 500, as of Friday’s slightly lower close, was up more than 25% this year.


CNBC’s Jim Cramer said Monday he doesn’t think the stock market will drop in December as it did last year.
“Nothing worries me in the sense of looking for a big sell-off in December,” Cramer said on “Squawk on the Street.”
But 2018 saw the S&P 500 drop more than 9% in the final month.
The S&P 500 closed at a record high on Wednesday.
The S&P 500, as of Friday’s slightly lower close, was up more than 25% this year.
Cramer: I’m not worried about a December stock market drop like last year Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-02  Authors: jessica bursztynsky
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Cramer: I'm not worried about a December stock market drop like last year

CNBC’s Jim Cramer said Monday he doesn’t think the stock market will drop in December as it did last year.

“Nothing worries me in the sense of looking for a big sell-off in December,” Cramer said on “Squawk on the Street.”

“I’m seeing ‘green shoots’ in Europe from auto sales,” the “Mad Money” host said, referring to signs of economic recovery in a downturn. European car sales rose 8.6% in October to their highest level since 2009. However, global car sales are expected to see their steepest year-over-year decline since the 2008 financial crisis.

December has historically been the strongest trading month of the year. But 2018 saw the S&P 500 drop more than 9% in the final month. The market, after months of selling, bottomed on Christmas Eve before staging a 2019 rally that could give stocks their best yearly gains in a generation. The S&P 500 closed at a record high on Wednesday.

The S&P 500, as of Friday’s slightly lower close, was up more than 25% this year. Early Monday, the index was on a modest two-session losing streak due to some disappointing economic data and trade concerns.

Manufacturing activity declined in November in the ISM Manufacturing index released Monday. Also Monday, President Donald Trump said he’s restoring tariffs on metal imports from Brazil and Argentina, and Chinese state media reported that Beijing wants Washington to cancel tariffs in order to reach a “phase one” trade deal.

However, Cramer expects this year to end on a stronger note. “I’m looking for more reasons for it to go higher.”


Company: cnbc, Activity: cnbc, Date: 2019-12-02  Authors: jessica bursztynsky
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European stocks touch 4-year high as Trump says US, China close to a trade deal; Altran shares higher

The pan-European Stoxx 600 added just over 0.1% in early trade, basic resources leading the way with 0.8% gains while travel and leisure stocks slid 0.4% lower. The European blue chip index notched a four-year high at the start of the session. In Asia, markets climbed on the back of optimism around trade, with the MSCI’s broadest index of Asia-Pacific shares outside Japan up 0.2%. In corporate news, Reuters reports that Lufthansa is in final talks to complete the sale of its European catering op


The pan-European Stoxx 600 added just over 0.1% in early trade, basic resources leading the way with 0.8% gains while travel and leisure stocks slid 0.4% lower.
The European blue chip index notched a four-year high at the start of the session.
In Asia, markets climbed on the back of optimism around trade, with the MSCI’s broadest index of Asia-Pacific shares outside Japan up 0.2%.
In corporate news, Reuters reports that Lufthansa is in final talks to complete the sale of its European catering op
European stocks touch 4-year high as Trump says US, China close to a trade deal; Altran shares higher Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-27  Authors: elliot smith ryan browne, elliot smith, ryan browne
Keywords: news, cnbc, companies, deal, trump, trade, shares, stoxx, political, stocks, high, close, index, touch, party, european, talks, group, slid, higher


European stocks touch 4-year high as Trump says US, China close to a trade deal; Altran shares higher

The pan-European Stoxx 600 added just over 0.1% in early trade, basic resources leading the way with 0.8% gains while travel and leisure stocks slid 0.4% lower. The European blue chip index notched a four-year high at the start of the session.

President Donald Trump on Tuesday said that Washington and Beijing were in the “final throes” of talks aimed at securing a trade deal, though the U.S. leader also expressed his administration’s support for protesters in Hong Kong, a particularly thorny issue for China at the moment.

Stocks stateside closed at record highs following Trump’s comments. In Asia, markets climbed on the back of optimism around trade, with the MSCI’s broadest index of Asia-Pacific shares outside Japan up 0.2%.

Back in Europe, market participants kept a close watch on the latest political developments out of the U.K., as the country heads for a fresh set of elections on Dec. 12.

Britain’s two main political parties have become embroiled in a debate over religious prejudice. The opposition Labour party was accused by the chief rabbi of failing to tackle anti-Semitism seriously, while a Muslim group said the ruling Conservative party has an Islamophobia problem.

In corporate news, Reuters reports that Lufthansa is in final talks to complete the sale of its European catering operations to Swiss firm Gategroup.

As for data, fresh figures showed that Chinese industrial profits dropped for a third consecutive month in October. In Europe, French consumer confidence data is due later Wednesday morning.

In terms of individual stocks, both Interpump Group and Wartsila shares climbed more than 3% in early trade to lead the Stoxx 600, while Knorr Bremse stock slid 3.8% after the German brake system manufacturer reported disappointing results before the bell.

Altran shares edged 0.3% higher after activist hedge fund Elliott said Capgemini’s 3.6 billion euro ($3.96 billion) offer for the French engineering group was too low.


Company: cnbc, Activity: cnbc, Date: 2019-11-27  Authors: elliot smith ryan browne, elliot smith, ryan browne
Keywords: news, cnbc, companies, deal, trump, trade, shares, stoxx, political, stocks, high, close, index, touch, party, european, talks, group, slid, higher


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China has overtaken the US to have the world’s largest diplomatic network, think tank says

Foreigners wave Chinese flags during a flash mob event celebrating the 70th anniversary of the founding of the People’s Republic of China at Yiwu International Trade City on August 15, 2019 in Yiwu, Zhejiang Province of China. China has overtaken the U.S. to become the world’s largest diplomatic network, according to the latest annual report from a Sydney-based think tank. The Lowy Institute’s 2019 Global Diplomacy Index, published Wednesday, showed China had climbed to the top spot for the firs


Foreigners wave Chinese flags during a flash mob event celebrating the 70th anniversary of the founding of the People’s Republic of China at Yiwu International Trade City on August 15, 2019 in Yiwu, Zhejiang Province of China.
China has overtaken the U.S. to become the world’s largest diplomatic network, according to the latest annual report from a Sydney-based think tank.
The Lowy Institute’s 2019 Global Diplomacy Index, published Wednesday, showed China had climbed to the top spot for the firs
China has overtaken the US to have the world’s largest diplomatic network, think tank says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-27  Authors: sam meredith
Keywords: news, cnbc, companies, lowy, largest, report, china, worlds, diplomatic, think, international, number, overtaken, tank, network, published, spot, yiwu, index


China has overtaken the US to have the world's largest diplomatic network, think tank says

Foreigners wave Chinese flags during a flash mob event celebrating the 70th anniversary of the founding of the People’s Republic of China at Yiwu International Trade City on August 15, 2019 in Yiwu, Zhejiang Province of China.

China has overtaken the U.S. to become the world’s largest diplomatic network, according to the latest annual report from a Sydney-based think tank.

The Lowy Institute’s 2019 Global Diplomacy Index, published Wednesday, showed China had climbed to the top spot for the first time, underlining Beijing’s growing international ambitions.

The index is an analysis of the number of embassies and consulates maintained by countries around the world.

The Australian think tank reported China had 276 diplomatic posts worldwide, narrowly ahead of the U.S., which was found to have 273. The two countries were found to have an equal number of embassies, but Beijing has more consulates around the world than Washington.

“It’s ascent to the top spot has been rapid,” Bonnie Bley, lead researcher from the Lowy Institute, said in the report published Wednesday.


Company: cnbc, Activity: cnbc, Date: 2019-11-27  Authors: sam meredith
Keywords: news, cnbc, companies, lowy, largest, report, china, worlds, diplomatic, think, international, number, overtaken, tank, network, published, spot, yiwu, index


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US futures point to higher open

U.S. stock index futures were slightly higher Tuesday morning. ET, Dow futures rose 20 points, indicating a positive open of more than 14 points. Futures on the S&P and Nasdaq were both seen marginally higher. On the data front, advanced economic indicators for October and the Philadelphia Fed non-manufacturing index for November will be released at 8:30 a.m. The latest monthly Richmond Fed survey and Dallas Fed services data will be published at around 10:00 a.m.


U.S. stock index futures were slightly higher Tuesday morning.
ET, Dow futures rose 20 points, indicating a positive open of more than 14 points.
Futures on the S&P and Nasdaq were both seen marginally higher.
On the data front, advanced economic indicators for October and the Philadelphia Fed non-manufacturing index for November will be released at 8:30 a.m.
The latest monthly Richmond Fed survey and Dallas Fed services data will be published at around 10:00 a.m.
US futures point to higher open Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-26  Authors: silvia amaro
Keywords: news, cnbc, companies, futures, index, slightly, sides, data, fed, open, points, issues, higher, china, point


US futures point to higher open

U.S. stock index futures were slightly higher Tuesday morning.

At around 01:38 a.m. ET, Dow futures rose 20 points, indicating a positive open of more than 14 points. Futures on the S&P and Nasdaq were both seen marginally higher.

Investors continue to closely monitor the long-running dispute between China and the U.S. over trade. China’s ministry of commerce said Monday that the leaders of China and the U.S. spoke over the phone.

“Both sides discussed resolving core issues of common concern, reached consensus on how to resolve related problems (and) agreed to stay in contact over remaining issues for a phase one agreement,” the Chinese-language statement said, according to a CNBC translation.

It is yet unclear if both sides will be reaching a compromise before December 15, when new U.S. tariffs on Chinese goods are set to kick in.

On the data front, advanced economic indicators for October and the Philadelphia Fed non-manufacturing index for November will be released at 8:30 a.m. ET.

The S&P CoreLogic Case-Shiller U.S. National Home Price Index (HPI) for September, new home sales for October and consumer confidence figures for November will follow slightly later in the session.

The latest monthly Richmond Fed survey and Dallas Fed services data will be published at around 10:00 a.m. ET.

In corporate news, Best Buy, Dollar Tree, Autodesk and Dell will be reporting Tuesday.


Company: cnbc, Activity: cnbc, Date: 2019-11-26  Authors: silvia amaro
Keywords: news, cnbc, companies, futures, index, slightly, sides, data, fed, open, points, issues, higher, china, point


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