Asian stocks broadly higher as investors look to key US, China policy events

Stocks in Asia were mostly higher on Monday following a report suggesting further turmoil for the markets in 2019. The mainland Chinese markets were mixed by the end of their trading day after the country reported lower than expected economic datalast Friday. The Shanghai composite rose 0.16 percent to close at around 2,597.97 while the Shenzhen composite declined by 0.309 percent to end the trading day at about 1,323.31. One investor told CNBC’s “Squawk Box” on Monday that the bargain hunting f


Stocks in Asia were mostly higher on Monday following a report suggesting further turmoil for the markets in 2019. The mainland Chinese markets were mixed by the end of their trading day after the country reported lower than expected economic datalast Friday. The Shanghai composite rose 0.16 percent to close at around 2,597.97 while the Shenzhen composite declined by 0.309 percent to end the trading day at about 1,323.31. One investor told CNBC’s “Squawk Box” on Monday that the bargain hunting f
Asian stocks broadly higher as investors look to key US, China policy events Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-17  Authors: eustance huang
Keywords: news, cnbc, companies, chinese, shares, investors, broadly, higher, key, close, bank, day, losses, look, stocks, events, asian, trading, banks, markets, china, policy


Asian stocks broadly higher as investors look to key US, China policy events

Stocks in Asia were mostly higher on Monday following a report suggesting further turmoil for the markets in 2019.

Investors were setting their sights on key policy meetings in the coming week — ahead of the U.S. Federal Reserve’s upcoming interest rate meeting and as China on Tuesday marks the 40th anniversary of the country’s reforms under former leader Deng Xiaoping.

President Xi Jinping is expected to deliver a major speech on Monday. It comes as Beijing’s trade war with Washington spurs government advisors and think tanks to urge for urgent reforms in Asia’s largest economy.

The mainland Chinese markets were mixed by the end of their trading day after the country reported lower than expected economic datalast Friday. The Shanghai composite rose 0.16 percent to close at around 2,597.97 while the Shenzhen composite declined by 0.309 percent to end the trading day at about 1,323.31.

One investor told CNBC’s “Squawk Box” on Monday that the bargain hunting for Chinese shares has already started.

“Over the next few months, if there were to be any more weakness in the Chinese market, we think that there will be more investors coming in to buy,” said Khiem Do, head of Greater China investments at Barings. “The Chinese markets are actually quite cheap.”

Meanwhile, Hong Kong’s Hang Seng index was slightly higher in its final hour of trade.

In Japan, the Nikkei 225 rose 0.62 percent to close at 21,506.88 while the Topix index saw gains of 0.13 percent to finish the trading day at 1,594.20. Shares of conglomerate Softbank recovered from earlier losses during the session to gain 0.52 percent ahead of the anticipated public listing of its mobile unit on Dec. 19.

South Korea’s Kospi closed fractionally higher at 2,071.09.

Australia’s ASX 200 saw gains of 1 percent to close at 5,658.3, with almost all sectors in positive territory.

The heavily-weighted financial subindex, however, slipped 0.11 percent, with shares of Australia’s so-called Big Four banks mostly seeing losses. Australia and New Zealand Banking Group dropped 1.57 percent, Westpac shed 0.92 percent and National Australia Bank slipped 0.59 percent. Commonwealth Bank of Australia, on the other hand, recovered from earlier losses to rise 0.65 percent.

“The ‘Santa Rally’ which had been hoped for has proven to be frustratingly elusive; and now markets are quite happy, if not desperate, for at least a dovish line to be thrown by the FOMC (and other global central banks),” said Mizuho Bank in a note on Monday, in reference to the U.S. central bank’s upcoming Federal Open Market Committee meeting on Dec. 18 and 19.


Company: cnbc, Activity: cnbc, Date: 2018-12-17  Authors: eustance huang
Keywords: news, cnbc, companies, chinese, shares, investors, broadly, higher, key, close, bank, day, losses, look, stocks, events, asian, trading, banks, markets, china, policy


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US stock futures point to a slightly lower open after Friday’s big losses

Dow futures implied a slide of about 41 points at the open on Monday, as of 7:20 a.m. S&P 500 and Nasdaq futures also pointed to a slightly lower open. Recent economic data have reignited worries of economic slowdown around the globe and kept a lid on stock returns. The Dow fell nearly 500 points and the S&P 500 closed down 1.9 percent on Friday to 2,599.95 — its lowest closing level since April — after China reported industrial output and retail sales growth numbers for November that missed exp


Dow futures implied a slide of about 41 points at the open on Monday, as of 7:20 a.m. S&P 500 and Nasdaq futures also pointed to a slightly lower open. Recent economic data have reignited worries of economic slowdown around the globe and kept a lid on stock returns. The Dow fell nearly 500 points and the S&P 500 closed down 1.9 percent on Friday to 2,599.95 — its lowest closing level since April — after China reported industrial output and retail sales growth numbers for November that missed exp
US stock futures point to a slightly lower open after Friday’s big losses Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-17  Authors: thomas franck, drew angerer, getty images
Keywords: news, cnbc, companies, 500, rising, lower, trade, big, president, losses, points, economic, fridays, point, open, slightly, sp, futures, stock


US stock futures point to a slightly lower open after Friday's big losses

Dow Jones Industrial Average futures pointed to a slightly negative start for Monday’s open after all three major U.S. indexes closed in correction territory for the first time since March 2016 in the prior trading session.

Dow futures implied a slide of about 41 points at the open on Monday, as of 7:20 a.m. ET. S&P 500 and Nasdaq futures also pointed to a slightly lower open.

Recent economic data have reignited worries of economic slowdown around the globe and kept a lid on stock returns. The Dow fell nearly 500 points and the S&P 500 closed down 1.9 percent on Friday to 2,599.95 — its lowest closing level since April — after China reported industrial output and retail sales growth numbers for November that missed expectations.

The latest economic data offered yet another hint that Beijing’s economy may be decelerating amid rising trade risks as President Xi Jinping tries to broker a permanent truce with President Donald Trump. The two nations have slapped tariffs on billions of dollars worth of goods over the past year as disagreements over the handling of intellectual property and a yawning trade deficit pit the world’s two largest economies against each other.

Investors are also on edge ahead of the December meeting of the Federal Reserve’s policymaking arm. The Federal Open Market Committee is expected to hike its benchmark overnight lending rate for a fourth and final time of 2018 this week. While fears of rising interest rates and an ambitious Fed have spooked markets throughout 2018, such concerns have evolved over the past month as inflation and growth expectations recede.


Company: cnbc, Activity: cnbc, Date: 2018-12-17  Authors: thomas franck, drew angerer, getty images
Keywords: news, cnbc, companies, 500, rising, lower, trade, big, president, losses, points, economic, fridays, point, open, slightly, sp, futures, stock


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US stock futures point to a slightly negative open after Friday’s big losses

Dow Jones Industrial Average futures pointed to a slightly negative start for Monday’s open after all three major U.S. indexes closed in correction territory for the first time since March 2016 in the prior trading session. Dow futures were down 17.00 points, implying a loss of 18.51 points at the open on Monday stateside, as of 3:28 a.m. S&P 500 and Nasdaq futures also pointed to a lower open for the two indexes. Recent economic data have reignited worries of economic slowdown around the globe


Dow Jones Industrial Average futures pointed to a slightly negative start for Monday’s open after all three major U.S. indexes closed in correction territory for the first time since March 2016 in the prior trading session. Dow futures were down 17.00 points, implying a loss of 18.51 points at the open on Monday stateside, as of 3:28 a.m. S&P 500 and Nasdaq futures also pointed to a lower open for the two indexes. Recent economic data have reignited worries of economic slowdown around the globe
US stock futures point to a slightly negative open after Friday’s big losses Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-16  Authors: thomas franck, drew angerer, getty images
Keywords: news, cnbc, companies, point, big, futures, fridays, negative, open, economic, trade, rising, president, slightly, losses, 500, sp, points, pointed, stock


US stock futures point to a slightly negative open after Friday's big losses

Dow Jones Industrial Average futures pointed to a slightly negative start for Monday’s open after all three major U.S. indexes closed in correction territory for the first time since March 2016 in the prior trading session.

Dow futures were down 17.00 points, implying a loss of 18.51 points at the open on Monday stateside, as of 3:28 a.m. ET. S&P 500 and Nasdaq futures also pointed to a lower open for the two indexes.

Recent economic data have reignited worries of economic slowdown around the globe and kept a lid on stock returns. The Dow fell nearly 500 points and the S&P 500 closed down 1.9 percent on Friday to 2,599.95 — its lowest closing level since April — after China reported industrial output and retail sales growth numbers for November that missed expectations.

The latest economic data offered yet another hint that Beijing’s economy may be decelerating amid rising trade risks as President Xi Jinping tries to broker a permanent truce with President Donald Trump. The two nations have slapped tariffs on billions of dollars worth of goods over the past year as disagreements over the handling of intellectual property and a yawning trade deficit pit the world’s two largest economies against each other.

Investors are also on edge ahead of the December meeting of the Federal Reserve’s policymaking arm. The Federal Open Market Committee is expected to hike its benchmark overnight lending rate for a fourth and final time of 2018 this week. While fears of rising interest rates and an ambitious Fed have spooked markets throughout 2018, such concerns have evolved over the past month as inflation and growth expectations recede.


Company: cnbc, Activity: cnbc, Date: 2018-12-16  Authors: thomas franck, drew angerer, getty images
Keywords: news, cnbc, companies, point, big, futures, fridays, negative, open, economic, trade, rising, president, slightly, losses, 500, sp, points, pointed, stock


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Sterling plummets to 21-month low as UK government pulls Parliament’s vote on Brexit

Sterling slumped to a 21-month low as British Prime Minister Theresa May confirmed that the government would delay a Brexit vote in the parliament, that had earlier been scheduled for Tuesday. Earlier on Monday, the pound fell to $1.266, a level not seen since April 2017, following several media reports that May had gathered senior aides at a Monday morning meeting in 10 Downing Street to discuss pulling the vote. It further fell to $1.2616 after PM May addressed the parliament, bringing the los


Sterling slumped to a 21-month low as British Prime Minister Theresa May confirmed that the government would delay a Brexit vote in the parliament, that had earlier been scheduled for Tuesday. Earlier on Monday, the pound fell to $1.266, a level not seen since April 2017, following several media reports that May had gathered senior aides at a Monday morning meeting in 10 Downing Street to discuss pulling the vote. It further fell to $1.2616 after PM May addressed the parliament, bringing the los
Sterling plummets to 21-month low as UK government pulls Parliament’s vote on Brexit Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: david reid, spriha srivastava, victoria jones – pa images, pa images, getty images
Keywords: news, cnbc, companies, 21month, parliaments, parliament, uk, losses, plummets, knew, brexit, pound, fell, gallo, pulls, vote, european, door, fx, sterling, low


Sterling plummets to 21-month low as UK government pulls Parliament's vote on Brexit

Sterling slumped to a 21-month low as British Prime Minister Theresa May confirmed that the government would delay a Brexit vote in the parliament, that had earlier been scheduled for Tuesday.

Earlier on Monday, the pound fell to $1.266, a level not seen since April 2017, following several media reports that May had gathered senior aides at a Monday morning meeting in 10 Downing Street to discuss pulling the vote.

It further fell to $1.2616 after PM May addressed the parliament, bringing the losses to nearly 1.7 percent against the dollar on the day. The pound also extended losses versus the euro, trading down by 0.7 percent to 90.18 pence.

May claimed that while there was broad support for her deal, the issue of the Northern Irish backstop remained a concern and she would return to European counterparts to renegotiate the deal.

“A worrying tone is emanating from the debate in the House. We already knew that delaying the vote to avoid a catastrophic loss for the government would have opened the door to an internal Conservative party leadership challenge,” Stephen Gallo, European head of FX strategy at BMO Capital Markets told CNBC via email on Monday.

“Now, however, many MPs appear to be using their rhetoric to pave the way for a parliamentary no confidence vote in the PM and her government. So that door is still open. We knew this too, but the FX market appears to be reacting to the realization of it, Gallo added.”


Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: david reid, spriha srivastava, victoria jones – pa images, pa images, getty images
Keywords: news, cnbc, companies, 21month, parliaments, parliament, uk, losses, plummets, knew, brexit, pound, fell, gallo, pulls, vote, european, door, fx, sterling, low


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The FAANG stocks shed $140 billion in Tuesday’s market rout

In total, the so-called FAANG stocks — Facebook, Amazon, Apple, Netflix and Alphabet-owned Google — shed more than $140 billion in market value by the end of the trading Tuesday. Here’s how it shook out:Facebook fell 2.2 percent, losing $7.6 billion in implied market valueAmazon fell 5.9 percent, losing $50.8 billion in implied market valueApple fell 4.4 percent, losing $38.5 billion in implied market valueNetflix fell 5.2 percent, losing $6.5 billion in implied market valueAlphabet fell 4.8 per


In total, the so-called FAANG stocks — Facebook, Amazon, Apple, Netflix and Alphabet-owned Google — shed more than $140 billion in market value by the end of the trading Tuesday. Here’s how it shook out:Facebook fell 2.2 percent, losing $7.6 billion in implied market valueAmazon fell 5.9 percent, losing $50.8 billion in implied market valueApple fell 4.4 percent, losing $38.5 billion in implied market valueNetflix fell 5.2 percent, losing $6.5 billion in implied market valueAlphabet fell 4.8 per
The FAANG stocks shed $140 billion in Tuesday’s market rout Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-04  Authors: sara salinas, april greer, the washington post, getty images
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The FAANG stocks shed $140 billion in Tuesday's market rout

In total, the so-called FAANG stocks — Facebook, Amazon, Apple, Netflix and Alphabet-owned Google — shed more than $140 billion in market value by the end of the trading Tuesday.

Here’s how it shook out:

Facebook fell 2.2 percent, losing $7.6 billion in implied market value

Amazon fell 5.9 percent, losing $50.8 billion in implied market value

Apple fell 4.4 percent, losing $38.5 billion in implied market value

Netflix fell 5.2 percent, losing $6.5 billion in implied market value

Alphabet fell 4.8 percent, losing $37.5 billion in implied market value

The losses extend pain periods for Apple, which has seen downturn in recent weeks, and Facebook, which is suffering a down year on the heels of several scandals. Amazon and Netflix, though, are each up more than 40 percent year-to-date despite getting caught in the rout.

With Tuesday’s losses, Alphabet is hanging onto modest year-to-date gains, up just 0.8 percent in 2018.

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Company: cnbc, Activity: cnbc, Date: 2018-12-04  Authors: sara salinas, april greer, the washington post, getty images
Keywords: news, cnbc, companies, rout, faang, yeartodate, fell, apple, losing, netflix, 140, market, losses, billion, facebook, shed, tuesdays, implied, stocks


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Stocks cut losses after Lighthizer says he expects Trump-Xi dinner ‘success’

U.S. stock futures pared most of their losses after U.S. Trade Representative Robert Lighthizer said he expects a key dinner between President Donald Trump and China’s Xi Jinping to be a “success.” Dow Jones Industrial Average futures traded 73 points lower at about 8:23 a.m. Trump and Xi are scheduled to have dinner on Saturday and are expected to discuss trade issues between the two countries. However, China hawk Peter Navarro, Trump’s trade advisor, will attend the dinner between the two. He


U.S. stock futures pared most of their losses after U.S. Trade Representative Robert Lighthizer said he expects a key dinner between President Donald Trump and China’s Xi Jinping to be a “success.” Dow Jones Industrial Average futures traded 73 points lower at about 8:23 a.m. Trump and Xi are scheduled to have dinner on Saturday and are expected to discuss trade issues between the two countries. However, China hawk Peter Navarro, Trump’s trade advisor, will attend the dinner between the two. He
Stocks cut losses after Lighthizer says he expects Trump-Xi dinner ‘success’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-30  Authors: fred imbert, ryan browne, nicolas asfouri, afp, getty images
Keywords: news, cnbc, companies, expects, trade, china, trumps, losses, terms, economy, dinner, futures, trumpxi, lighthizer, cut, president, xi, stocks, points, success


Stocks cut losses after Lighthizer says he expects Trump-Xi dinner 'success'

U.S. stock futures pared most of their losses after U.S. Trade Representative Robert Lighthizer said he expects a key dinner between President Donald Trump and China’s Xi Jinping to be a “success.”

Dow Jones Industrial Average futures traded 73 points lower at about 8:23 a.m. ET, indicating a decline of 23 points. S&P 500 and Nasdaq 100 futures pointed a flat open. Dow futures had fallen more than 100 points earlier in the day.

Trump and Xi are scheduled to have dinner on Saturday and are expected to discuss trade issues between the two countries. Investors are eagerly looking ahead to the dinner as they have fretted over the impact of U.S. and China tariffs on the global economy and corporate earnings.

Lighthizer’s comments raise hope that a trade truce between the two countries could be struck. However, China hawk Peter Navarro, Trump’s trade advisor, will attend the dinner between the two.

Navarro is seen as a contentious figure in terms of Washington’s trade relations with Beijing due to his aggressive stance on the world’s second-largest economy. He clashed with White House economic advisor Larry Kudlow earlier this month after saying any deal with China would be “on President Donald J. Trump’s terms, not Wall Street’s terms.”


Company: cnbc, Activity: cnbc, Date: 2018-11-30  Authors: fred imbert, ryan browne, nicolas asfouri, afp, getty images
Keywords: news, cnbc, companies, expects, trade, china, trumps, losses, terms, economy, dinner, futures, trumpxi, lighthizer, cut, president, xi, stocks, points, success


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Trump may impose tariffs on imported cars from next week

European auto stocks extended losses on Tuesday after a German magazine reported that U.S. President Donald Trump could impose tariffs on imported cars from next week. Neither White House nor the U.S. Commerce Department immediately responded to a request for comment. The Commerce Department has not publicly released any findings from its investigation into whether imported autos and parts pose a national security risk. Reuters reported that the department submitted its recommendations earlier t


European auto stocks extended losses on Tuesday after a German magazine reported that U.S. President Donald Trump could impose tariffs on imported cars from next week. Neither White House nor the U.S. Commerce Department immediately responded to a request for comment. The Commerce Department has not publicly released any findings from its investigation into whether imported autos and parts pose a national security risk. Reuters reported that the department submitted its recommendations earlier t
Trump may impose tariffs on imported cars from next week Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-27  Authors: patrik stollarz, afp, getty images
Keywords: news, cnbc, companies, european, house, department, trump, report, impose, trade, losses, cars, white, stocks, tariffs, week, imported, commerce


Trump may impose tariffs on imported cars from next week

European auto stocks extended losses on Tuesday after a German magazine reported that U.S. President Donald Trump could impose tariffs on imported cars from next week.

Wirtschaftswoche cited “EU sources” as saying a U.S. Department of Commerce investigation report was on Trump’s desk, adding: “Trump will possibly decide on tariffs as early as next week after the G20 meeting in Buenos Aires.”

It cited the sources as saying the report recommended a 25 percent customs duty on car imports from all countries except Canada and Mexico.

However, the White House has repeatedly pledged not to move forward with imposing tariffs on the European Union or Japan as long as it is making constructive progress in trade talks.

The European Commission, which oversees trade policy for the 28-member European Union, declined to comment on the report in general, but did say that Wirtschaftwoche’s reference to EU Trade Commissioner Cecilia Malmstrom heading to Washington on Wednesday was not correct. Neither White House nor the U.S. Commerce Department immediately responded to a request for comment.

The Commerce Department has not publicly released any findings from its investigation into whether imported autos and parts pose a national security risk. Reuters reported that the department submitted its recommendations earlier this month to the White House, which did not immediately act.

Trump could take weeks or month to decide. Once he makes a decision, the White House has 15 days to impose the new tariffs.

European auto stocks extended losses after the report, falling 2.5 percent. Autos stocks are down 20 percent year-to-date as fears of tariffs and slowing growth in car sales drive investors away from the sector.

Shares in VW widened losses and were trading 4.1 percent lower. BMW shares were down 1.4 percent. Daimler shares were down 2.4 percent.


Company: cnbc, Activity: cnbc, Date: 2018-11-27  Authors: patrik stollarz, afp, getty images
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Tech stocks rally 2 percent after suffering Black Friday losses

Tech stocks bounced back on Cyber Monday after suffering losses on Black Friday. The Nasdaq Composite Index spiked more than 2 percent by Monday’s close, compared to Friday’s dip of 0.5 percent — its worst Black Friday since 2011. On a day where shoppers scour the internet for holiday deals, Amazon spiked 5.3 percent. All five FAANG companies — Facebook, Amazon, Apple, Netflix and Google parent company Alphabet — finished the day in the green. Investors have also shied away from Apple amid fears


Tech stocks bounced back on Cyber Monday after suffering losses on Black Friday. The Nasdaq Composite Index spiked more than 2 percent by Monday’s close, compared to Friday’s dip of 0.5 percent — its worst Black Friday since 2011. On a day where shoppers scour the internet for holiday deals, Amazon spiked 5.3 percent. All five FAANG companies — Facebook, Amazon, Apple, Netflix and Google parent company Alphabet — finished the day in the green. Investors have also shied away from Apple amid fears
Tech stocks rally 2 percent after suffering Black Friday losses Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-26  Authors: lauren feiner, michael s williamson, the washington post, getty images
Keywords: news, cnbc, companies, rally, cyber, company, stock, billion, stocks, black, suffering, day, apple, compared, tech, mondays, spiked, losses


Tech stocks rally 2 percent after suffering Black Friday losses

Tech stocks bounced back on Cyber Monday after suffering losses on Black Friday. The Nasdaq Composite Index spiked more than 2 percent by Monday’s close, compared to Friday’s dip of 0.5 percent — its worst Black Friday since 2011.

On a day where shoppers scour the internet for holiday deals, Amazon spiked 5.3 percent. This Cyber Monday is expected to be a record-setter, hitting $7.8 billion for online transactions, according to Monday morning estimates by Adobe Insights. That would be an 18.3 percent increase compared to the same time last year.

All five FAANG companies — Facebook, Amazon, Apple, Netflix and Google parent company Alphabet — finished the day in the green. Also notably, Tesla surged 6.2 percent Monday and Twitter popped 5.5 percent.

Microsoft also rose by 3.3 percent, at one point coming within a few billion dollars of surpassing Apple in market cap to become the most valuable U.S. company.

Facebook’s stock was hit last week as it responded to backlash about a New York Times report criticizing the way the company handled Russian use of its platform to influence the 2016 U.S. presidential election. On Monday, it swung back up 3.5 percent.

Investors have also shied away from Apple amid fears of slowing iPhone sales, but the stock also rebounded 1.4 percent by Monday’s close.

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Company: cnbc, Activity: cnbc, Date: 2018-11-26  Authors: lauren feiner, michael s williamson, the washington post, getty images
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Tariffs could cost American households $2,400 each in 2019, a new study warns

Tariffs stemming from President Donald Trump’s trade conflicts could cost Americans $915 each, or $2,400 per household, in the form of higher prices, lower wages and lower investment returns in 2019, according to a new study. If the tariffs stay in place, the study says, the losses would add up to $17,300 per household by 2030. The study, commissioned by the lobbying shop for Koch Industries and conducted by consulting firm ImpactECON, looked at the potential cumulative impact of tariffs. The Ko


Tariffs stemming from President Donald Trump’s trade conflicts could cost Americans $915 each, or $2,400 per household, in the form of higher prices, lower wages and lower investment returns in 2019, according to a new study. If the tariffs stay in place, the study says, the losses would add up to $17,300 per household by 2030. The study, commissioned by the lobbying shop for Koch Industries and conducted by consulting firm ImpactECON, looked at the potential cumulative impact of tariffs. The Ko
Tariffs could cost American households $2,400 each in 2019, a new study warns Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-26  Authors: stephanie dhue, getty images
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Tariffs could cost American households $2,400 each in 2019, a new study warns

Tariffs stemming from President Donald Trump’s trade conflicts could cost Americans $915 each, or $2,400 per household, in the form of higher prices, lower wages and lower investment returns in 2019, according to a new study.

If the tariffs stay in place, the study says, the losses would add up to $17,300 per household by 2030.

The study, commissioned by the lobbying shop for Koch Industries and conducted by consulting firm ImpactECON, looked at the potential cumulative impact of tariffs. The conservative Koch political network has argued against the Trump administration’s protectionist trade policies.

The new study comes as Trump prepares to meet with Chinese President Xi Jinping at this week’s G-20 meeting, amid the U.S.-China trade standoff. The Koch-commissioned study assumes that the administration’s steel and aluminum tariffs and quotas remain, as well as retaliatory tariffs U.S. trade partners have put in place.

It also assumes a 25 percent tariff on all imports from China and retaliation. It factors in a 25 percent tariff on all imports of autos and auto parts and retaliation, exempting Canada and Mexico since they have negotiated that in the new U.S.-Mexico-Canada trade agreement to replace NAFTA.

“Any trade debate should convey a clear understanding of the effect of the U.S.’ and its trading partners’ actions on consumers, businesses and supply chains,” said Philip Ellender, Koch Industries president of government and public affairs. “At Koch, we support free and open exchange as a means to help people improve their lives. To that end, this report should serve as a unique and useful resource for policymakers as they consider the consequences of trade actions for all parties involved.”

The study predicts steep long-term job losses. While strong economic growth in the U.S. initially will protect workers from job losses, the tariffs will lead to the loss of 2.75 million American jobs, the study predicts. Low-skilled workers in agricultural and manufacturing jobs would be hit the hardest under this scenario. In addition, the study figures an additional 700,000 workers will lose jobs but be able to find work in other industries.

Meanwhile, the study expects the tariffs to sap $365 billion from U.S. GDP next year. Overall, it expects GDP losses to total $2.8 trillion from 2019 to 2030.


Company: cnbc, Activity: cnbc, Date: 2018-11-26  Authors: stephanie dhue, getty images
Keywords: news, cnbc, companies, 2019, study, warns, trump, koch, american, 2400, trade, president, cost, jobs, households, workers, tariffs, losses, tariff


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Bitcoin extends losses, slides under $3500 to lowest since September 2017

Bitcoin won’t have bottomed until 3K flat level, says Genesis Trading’s Moro 8:40 AM ET Fri, 23 Nov 2018 | 07:56Bitcoin had a rough weekend. Coming off a week of heavy losses, bitcoin fell 10 percent and set a fresh low at $3,447.58 on Sunday, according to data from CoinDesk. Over seven days, bitcoin has now lost more than 35 percent of its value, according to CoinDesk. This marks its biggest one-week drop since April 2013, when the cryptocurrency fell more than 44 percent, according to CoinDesk


Bitcoin won’t have bottomed until 3K flat level, says Genesis Trading’s Moro 8:40 AM ET Fri, 23 Nov 2018 | 07:56Bitcoin had a rough weekend. Coming off a week of heavy losses, bitcoin fell 10 percent and set a fresh low at $3,447.58 on Sunday, according to data from CoinDesk. Over seven days, bitcoin has now lost more than 35 percent of its value, according to CoinDesk. This marks its biggest one-week drop since April 2013, when the cryptocurrency fell more than 44 percent, according to CoinDesk
Bitcoin extends losses, slides under $3500 to lowest since September 2017 Cached Page below :
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Bitcoin extends losses, slides under $3500 to lowest since September 2017

Bitcoin won’t have bottomed until 3K flat level, says Genesis Trading’s Moro 8:40 AM ET Fri, 23 Nov 2018 | 07:56

Bitcoin had a rough weekend.

Coming off a week of heavy losses, bitcoin fell 10 percent and set a fresh low at $3,447.58 on Sunday, according to data from CoinDesk. This is the cryptocurrency’s lowest level since September 2017.

Over seven days, bitcoin has now lost more than 35 percent of its value, according to CoinDesk. This marks its biggest one-week drop since April 2013, when the cryptocurrency fell more than 44 percent, according to CoinDesk.

The recent downturn started in mid-November, when bitcoin first abruptly fell below $6,000. Since then, the world’s largest cryptocurrency continues to find new lows and has struggled to break out of the $4,000 range.

The November losses are a notable reversal from bitcoin’s surprisingly stable October. The cryptocurrency had been trading comfortably in the $6,400 range after a volatile year, while major U.S. stock markets fluctuated.


Company: cnbc, Activity: cnbc, Date: 2018-11-25  Authors: kate rooney, yu chun christopher wong, getty images
Keywords: news, cnbc, companies, 2017, weekendcoming, lowest, 3500, slides, losses, level, wont, worlds, coindesk, fell, according, bitcoin, cryptocurrency, extends


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