Credit Suisse raises S&P 500 forecast, sees 20% gain for 2019

The market has staged a strong comeback with the S&P 500 up 20 percent from its Christmas Eve low when it dipped into a bear market on an intraday basis. Many have credited the massive sell-off to fears of a too-aggressive Federal Reserve and a possible recession. The average S&P 500 target from the 17 top Wall Street analysts is 2,947, a CNBC analysis shows. Credit Suisse actually lowered its 2019 earnings estimates for S&P 500 companies to $170 from $174 despite raising its stock price outlook


The market has staged a strong comeback with the S&P 500 up 20 percent from its Christmas Eve low when it dipped into a bear market on an intraday basis. Many have credited the massive sell-off to fears of a too-aggressive Federal Reserve and a possible recession. The average S&P 500 target from the 17 top Wall Street analysts is 2,947, a CNBC analysis shows. Credit Suisse actually lowered its 2019 earnings estimates for S&P 500 companies to $170 from $174 despite raising its stock price outlook
Credit Suisse raises S&P 500 forecast, sees 20% gain for 2019 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: yun li
Keywords: news, cnbc, companies, lower, estimates, gain, economic, raises, stocks, suisse, fears, 20, forecast, credit, recession, 2019, 500, market, sp, sees


Credit Suisse raises S&P 500 forecast, sees 20% gain for 2019

Why Credit Suisse is positive on government bonds 12:45 AM ET Fri, 15 March 2019 | 02:19

That is because all the market risks that tanked stocks in December are now “receding,” according to Credit Suisse’s chief U.S. equity strategist, Jonathan Golub.

“Investors might be pleased with the market’s recent performance, but it’s unlikely they find the underlying dynamics—a more favorable risk backdrop, with decelerating economic and earnings growth—particularly inspiring,” Golub said.

“More specifically, less hawkish comments from the Fed, declining inflation and recession fears, and the potential for a resolution to China trade issues are the primary forces driving volatility and spreads lower, and stocks higher,” he added.

The market has staged a strong comeback with the S&P 500 up 20 percent from its Christmas Eve low when it dipped into a bear market on an intraday basis. Many have credited the massive sell-off to fears of a too-aggressive Federal Reserve and a possible recession. Now with the central bank signaling a “patient” approach to tightening and better-than-expected economic data, the rally may have more room to run.

The average S&P 500 target from the 17 top Wall Street analysts is 2,947, a CNBC analysis shows.

Credit Suisse actually lowered its 2019 earnings estimates for S&P 500 companies to $170 from $174 despite raising its stock price outlook. The firm says the reduced estimates are due to lower oil prices and large tech companies’ worsening outlooks.


Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: yun li
Keywords: news, cnbc, companies, lower, estimates, gain, economic, raises, stocks, suisse, fears, 20, forecast, credit, recession, 2019, 500, market, sp, sees


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China’s yuan ‘may already be overvalued’ and is set to move lower, Nomura says

The Chinese yuan is probably already overvalued against the U.S. dollar and any efforts by President Donald Trump’s team to lock in that level as part of trade negotiations will likely backfire, according to Japanese financial firm Nomura. The yuan has long been a sticking point for the U.S., which, despite years of long-term appreciation in the currency, accuses Beijing of keeping it artificially undervalued to boost exports. “We believe (the) yuan may already be overvalued against (the dollar)


The Chinese yuan is probably already overvalued against the U.S. dollar and any efforts by President Donald Trump’s team to lock in that level as part of trade negotiations will likely backfire, according to Japanese financial firm Nomura. The yuan has long been a sticking point for the U.S., which, despite years of long-term appreciation in the currency, accuses Beijing of keeping it artificially undervalued to boost exports. “We believe (the) yuan may already be overvalued against (the dollar)
China’s yuan ‘may already be overvalued’ and is set to move lower, Nomura says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-11  Authors: kelly olsen, honglouwawa, getty images
Keywords: news, cnbc, companies, long, nomura, dollar, trade, yuan, lower, set, chinas, growth, japanese, firm, overvalued, efforts


China's yuan 'may already be overvalued' and is set to move lower, Nomura says

The Chinese yuan is probably already overvalued against the U.S. dollar and any efforts by President Donald Trump’s team to lock in that level as part of trade negotiations will likely backfire, according to Japanese financial firm Nomura.

The yuan has long been a sticking point for the U.S., which, despite years of long-term appreciation in the currency, accuses Beijing of keeping it artificially undervalued to boost exports. Washington has reportedly pressed Chinese officials to maintain currency stability amid trade talks.

Despite that request, Nomura said the American side appears to have it all wrong.

“We believe (the) yuan may already be overvalued against (the dollar), and China’s latest round of monetary and credit easing may push (the yuan) further into overvalued territory,” Nomura said in a Monday note, referring to the country’s efforts to put a floor under slowing growth in the world’s second-largest economy.

In fact, attempts to stabilize the rate “could result in an increasingly overvalued yuan, slower export growth, elevated import growth and worsening current account deficits in China,” the Japanese firm said.

Nomura said it ultimately expects the yuan to move lower against the dollar “in the medium to long term,” though it did not suggest any levels or ranges.


Company: cnbc, Activity: cnbc, Date: 2019-03-11  Authors: kelly olsen, honglouwawa, getty images
Keywords: news, cnbc, companies, long, nomura, dollar, trade, yuan, lower, set, chinas, growth, japanese, firm, overvalued, efforts


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Dow futures point to a lower open as investors monitor US-China trade developments

U.S. stock index futures were lower Wednesday morning as market players remain focused on U.S.-China trade developments. ET, Dow futures fell 48 points, indicating a negative open of more than 22 points. Wall Street ended Tuesday’s session lower, as investors continued to search for clarity in trade negotiations between the U.S. and China. This remains the biggest topic that stock investors are watching for. Despite positive comments from different members of the U.S. administration, market play


U.S. stock index futures were lower Wednesday morning as market players remain focused on U.S.-China trade developments. ET, Dow futures fell 48 points, indicating a negative open of more than 22 points. Wall Street ended Tuesday’s session lower, as investors continued to search for clarity in trade negotiations between the U.S. and China. This remains the biggest topic that stock investors are watching for. Despite positive comments from different members of the U.S. administration, market play
Dow futures point to a lower open as investors monitor US-China trade developments Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-06  Authors: silvia amaro
Keywords: news, cnbc, companies, points, monitor, president, dow, players, market, investors, stock, set, developments, point, futures, trade, open, uschina, lower


Dow futures point to a lower open as investors monitor US-China trade developments

U.S. stock index futures were lower Wednesday morning as market players remain focused on U.S.-China trade developments.

At around 02:11 a.m. ET, Dow futures fell 48 points, indicating a negative open of more than 22 points. Futures on the S&P and Nasdaq also pointed to a lower open.

Wall Street ended Tuesday’s session lower, as investors continued to search for clarity in trade negotiations between the U.S. and China.

This remains the biggest topic that stock investors are watching for. U.S. Secretary of State Mike Pompeo said Monday he thought Washington and Beijing were “on the cusp” of reaching a deal. Despite positive comments from different members of the U.S. administration, market players are yet to find out how far-reaching any deal could be.

On the economic front, there will be ADP employment numbers at 8.15 a.m. ET and international trade figures out at 8.30 a.m. ET.

On the corporate calendar, Luxottica Group, Brown-Forman, Dollar Tree and Abercrombie & Fitch are set to report before the bell.

Furthermore, New York Fed President John Williams and Cleveland Fed President Loretta Mester are set to speak later on Wednesday.


Company: cnbc, Activity: cnbc, Date: 2019-03-06  Authors: silvia amaro
Keywords: news, cnbc, companies, points, monitor, president, dow, players, market, investors, stock, set, developments, point, futures, trade, open, uschina, lower


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ECB set to lower its outlook and could hint at new cheap loans for banks

When the European Central Bank’s (ECB) top officials meet Thursday, there is no way that they can ignore the worsening economic picture across the euro zone. Indeed, shares of euro zone banks jumped Wednesday after Bloomberg reported the central bank is holding discussions on the design of these new ultra-cheap bank loans. The euro zone economy continued its lowest pace of growth in four years during the final three months of 2018, data showed in January. The debate about whether it makes sense


When the European Central Bank’s (ECB) top officials meet Thursday, there is no way that they can ignore the worsening economic picture across the euro zone. Indeed, shares of euro zone banks jumped Wednesday after Bloomberg reported the central bank is holding discussions on the design of these new ultra-cheap bank loans. The euro zone economy continued its lowest pace of growth in four years during the final three months of 2018, data showed in January. The debate about whether it makes sense
ECB set to lower its outlook and could hint at new cheap loans for banks Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-06  Authors: annette weisbach, francois lenoir
Keywords: news, cnbc, companies, deposit, economy, euro, week, outlook, central, rate, hint, loans, lower, banks, ecb, bank, zone, set, cheap


ECB set to lower its outlook and could hint at new cheap loans for banks

When the European Central Bank’s (ECB) top officials meet Thursday, there is no way that they can ignore the worsening economic picture across the euro zone.

There’s even a chance they may highlight a potential policy response for the downturn, with uncertainties such as the U.S.-China trade war and Brexit still clouding the economic horizon.

This could be a renewal of its targeted long-term financing operations (TLTROs) for banks — these are multi-year cheap loans for the lenders — or even the lifting of the ECB’s deposit rate — the charge it gives to banks to hold cash — which could help them on the cost side.

Indeed, shares of euro zone banks jumped Wednesday after Bloomberg reported the central bank is holding discussions on the design of these new ultra-cheap bank loans.

“Upon significantly downgrading its near-term projections, the ECB will probably leave the more policy-relevant forecasts for the medium-term (2021) completely untouched,” said Florian Hense, an economist with Berenberg, in a research note.

“The ECB could announce this week, or in April, that it will offer a new round of longer-term funding for banks,” he added.

The euro zone economy continued its lowest pace of growth in four years during the final three months of 2018, data showed in January. However, some economists believe the current weakness in the euro area is just temporary, and the economy will pick up again during the course of this year.

Factors behind this reasoning include the recent German sluggishness, which they say is largely attributable to a car sector being weighed down by new emissions tests. There’s also the prospect of an agreement between China and the U.S. in their lingering trade dispute which could quickly boost sentiment across the globe.

But, clearly there’s the possibility of it all going wrong: No agreement between the EU and the U.K., a no-deal Brexit and an economy which will go from bad to worse.

So, for now even the biggest hawks do favor a “wait and see” approach.

The ECB ended its massive bond-buying program at the end of last year and is still set to start raising rates at the end of this summer. The debate about whether it makes sense to actually lift its deposit rate has already begun. Some believe that now could be the time when the actual benefits of having a negative deposit rate (it’s at -0.4 percent currently) could be outweighed by the costs it gives to banks.

Nonetheless, the most likely first step to counter an unwanted tightening would be a fresh round of TLTROs.

“Approximately 380 billion euros ($430 billion) in TLTROs — cheap loans that the ECB provided to banks — are set to mature in June 2020,” said Franck Dixmier, the global head of fixed income with Allianz Global Investors.

“Without a new liquidity program in place, the TLTRO repayments in 2020 would have a negative impact on the ECB’s balance sheet and lead to a significant tightening of monetary conditions.”

Economists are divided as to whether we will get any announcement this week or only in April. But it seems to be a given that the euro zone’s central bank will provide some sort of bridge financing for the region’s lenders.


Company: cnbc, Activity: cnbc, Date: 2019-03-06  Authors: annette weisbach, francois lenoir
Keywords: news, cnbc, companies, deposit, economy, euro, week, outlook, central, rate, hint, loans, lower, banks, ecb, bank, zone, set, cheap


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FDA chief Gottlieb resigns as agency battles teen vaping, opioid crisis

“Scott has helped us to lower drug prices, get a record number of generic drugs approved and onto the market, and so many other things. He’s made speeding up approvals of generic drugs, among other measures to lower drug prices, a priority. One of Gottlieb’s first initiatives was to overhaul the agency’s tobacco policies. However, none of the tobacco policies Gottlieb has introduced have been implemented yet. He served numerous stints at the agency, including as deputy commissioner for medical a


“Scott has helped us to lower drug prices, get a record number of generic drugs approved and onto the market, and so many other things. He’s made speeding up approvals of generic drugs, among other measures to lower drug prices, a priority. One of Gottlieb’s first initiatives was to overhaul the agency’s tobacco policies. However, none of the tobacco policies Gottlieb has introduced have been implemented yet. He served numerous stints at the agency, including as deputy commissioner for medical a
FDA chief Gottlieb resigns as agency battles teen vaping, opioid crisis Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-05  Authors: angelica lavito
Keywords: news, cnbc, companies, battles, lower, chief, opioid, policies, crisis, teen, drugs, generic, tobacco, drug, resigns, gottlieb, fda, agency, commissioner, vaping


FDA chief Gottlieb resigns as agency battles teen vaping, opioid crisis

Food and Drug Administration Commissioner Scott Gottlieb is leaving his post as the agency wages pitched battles against teen smoking and the opioid crisis, and tackles complex new rules to regulate some cannabis products.

Gottlieb, who’s credited with leading the FDA’s charge against underaged vaping, is resigning to spend more time with his family, people close to the regulator said Tuesday. He tendered his resignation to Health and Human Services Secretary Alex Azar in a letter Tuesday.

Gottlieb, a 46-year-old cancer survivor, had seemingly managed to avoid some of the political chaos that has engulfed other parts of the Trump administration. President Donald Trump commended Gottlieb’s work at the agency, saying he’s done an “absolutely terrific job.”

“Scott has helped us to lower drug prices, get a record number of generic drugs approved and onto the market, and so many other things. He and his talents will be greatly missed!” Trump said in a Tweet.

The physician has been commuting from his home in Westport, Connecticut, where he has a wife and three young daughters, the people said. He plans to stay on at the agency for another month; his successor hasn’t been named yet, they said.

“Scott’s leadership inspired historic results from the FDA team, which delivered record approvals of both innovative treatments and affordable generic drugs, while advancing important policies to confront opioid addiction, tobacco and youth e-cigarette use, chronic disease, and more,” Azar said in a statement.

Gottlieb’s resignation comes just two months after publicly denying reports that he was planning to step down. Stat News had been pursuing the story when Gottlieb on Twitter said he was not leaving the agency. His senior communications advisor, Nina Devlin, left her role at the end of January.

Gottlieb is widely respected in the health-care industry. He’s made speeding up approvals of generic drugs, among other measures to lower drug prices, a priority.

One of Gottlieb’s first initiatives was to overhaul the agency’s tobacco policies. He introduced a sweeping plan in the summer of 2017 to lower the nicotine in combustible cigarettes to minimally or non-addictive levels while trying to get more adult smokers to switch to e-cigarettes.

“Very few people have been more boldly on the side of consumers, lower drug prices and public health, willing to take on drug manufacturers and tobacco companies and make tough decisions,” said Andy Slavitt, former Centers for Medicare and Medicaid Services administrator.

His tobacco policies have not come without criticism. Some have blamed his decision to allow e-cigarettes to stay on the market for years after they were initially supposed to come off for fueling an “epidemic” of teen vaping. For the past year, Gottlieb has tried to push policies to curb teen use while keeping the products available for adult smokers.

He has also spearheaded efforts to ban menthol cigarettes, a move that has been widely applauded. However, none of the tobacco policies Gottlieb has introduced have been implemented yet.

Tobacco stocks rose on the news. Shares of Altria Group advanced less than 1 percent while shares of British American Tobacco traded in the U.S. gained 1.9 percent.

“Commissioner Gottlieb’s legacy will depend on whether his many proposals are implemented and, in the case of the youth e-cigarette epidemic, strengthened going forward,” Campaign for Tobacco-Free Kids President Matthew Myers said in a statement.

Gottlieb was sworn in as FDA Commissioner in May 2017. He served numerous stints at the agency, including as deputy commissioner for medical and scientific affairs and as a senior advisor to the FDA commissioner.

Before becoming commissioner, Gottlieb was a resident fellow at the American Enterprise Institute and a clinical assistant professor at the New York University School of Medicine, where he also practiced as a physician.

In his resignation letter, Gottlieb did not specify why he was leaving. He cited his work approving a record number of generic drugs, cracking down on tobacco sales to minors, addressing the opioid crisis, managing the government shutdown and other accomplishments during his tenure.

“I’m grateful to have shared these opportunities with my FDA colleagues,” he wrote. “I’m thankful to their support and commitment to our shared mission. And I’m thankful to my family for their support in enabling me to take on the privilege of serving in this role.”

Adam Fein, CEO of Pembroke Consulting’s Drug Channels Institute, said Gottlieb leaves “very big shoes to fill.”

Richard Evans, who leads SSR’s health practice, said he was a “big fan” of Gottlieb and is disappointed to see him leave.

“I can’t think of anyone else like that who gets the way the (pharmaceutical) industry is regulated by the FDA, how the industry works economically, understands the science as a physician, understands the bureaucracy as a former staffer and just wants to do the right thing,” he said.

John Maraganore, CEO of biopharma company Alnylam, called Gottlieb a “great” commissioner “who oversaw the continued modernization of FDA and the approval of many innovative medicines.”

Sabah Oney, chief business officer of Alector, a company in the neurodegeneration field that just went public, said it was the right time to have an FDA commissioner “who’s open and willing to work with innovators.”

“We felt like Gottlieb was that person,” he said. “We felt like we had a partner there and now there were a lot of unknowns.”

— CNBC’s Bertha Coombs , Kayla Tausche , Meg Tirrell and Christina Farr contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-03-05  Authors: angelica lavito
Keywords: news, cnbc, companies, battles, lower, chief, opioid, policies, crisis, teen, drugs, generic, tobacco, drug, resigns, gottlieb, fda, agency, commissioner, vaping


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Dollar rises again despite Trump trying to ‘jawbone’ the US currency lower

The U.S. Dollar Currency Index, which tracks the U.S. currency’s performance against others like the euro, was up 0.2 percent at 96.74. The moves came after Trump said on Saturday he was not pleased with how strong the dollar had become relative to other world currencies. “I want a dollar that’s great for our country but not a dollar that’s prohibitive for us to be doing business with other countries,” he said. Trump has sparked significant moves in the dollar previously, but experts say there i


The U.S. Dollar Currency Index, which tracks the U.S. currency’s performance against others like the euro, was up 0.2 percent at 96.74. The moves came after Trump said on Saturday he was not pleased with how strong the dollar had become relative to other world currencies. “I want a dollar that’s great for our country but not a dollar that’s prohibitive for us to be doing business with other countries,” he said. Trump has sparked significant moves in the dollar previously, but experts say there i
Dollar rises again despite Trump trying to ‘jawbone’ the US currency lower Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-04  Authors: fred imbert, hillary kladke, moment, getty images
Keywords: news, cnbc, companies, jawbone, currency, thats, lower, hiking, despite, investors, fed, trying, world, really, dollar, past, trump, rises


Dollar rises again despite Trump trying to 'jawbone' the US currency lower

The U.S. dollar rose against a basket of various currencies on Monday as investors looked past comments made by President Donald Trump over the weekend regarding the greenback.

The U.S. Dollar Currency Index, which tracks the U.S. currency’s performance against others like the euro, was up 0.2 percent at 96.74. Against the euro, the dollar gained half a percent and traded at $1.132.

The moves came after Trump said on Saturday he was not pleased with how strong the dollar had become relative to other world currencies. “I want a dollar that’s great for our country but not a dollar that’s prohibitive for us to be doing business with other countries,” he said.

Trump has sparked significant moves in the dollar previously, but experts say there is little he can do now to talk the currency down.

“I think currency investors are looking past those remarks,” said Aaron Hurd, senior portfolio manager of currency at State Street Global Advisors. The reason is “it’s unlikely Trump is going to be able to change the [Federal Reserve] outlook. When the Fed was hiking every quarter and projecting another hike, Trump would say something that would raise some concern that maybe he could change the Fed’s trajectory and have them slow down.”

“Now that the Fed is really in a patient, wait-and-see mode, there’s really not that much behavior to change. That’s already happened. The Fed has gone from hiking to doing nothing, so Trump’s comments don’t really matter unless Trump would be able to convince them to cut, but that’s a much more heroic assumption to make,” Hurd said.

The Federal Reserve signaled earlier this year it will be “patient” in raising rates this year after hiking four times in 2018.Trump criticized the Fed’s decisions throughout 2018. In October, he said the central bank had “gone crazy” by continuing to raise rates.

Over the past 12 months, the dollar has risen more than 7 percent and is up about 1 percent over the past month. Last year, the greenback gained more than 4 percent.

Chris Gaffney, president of world markets at TIAA Bank, said investors are lagely ignoring Trump’s attempt to “jawbone” the dollar as the odds of him changing the course of Fed policy are slim. He also said the key catalyst for the U.S. currency has been interest-rate differentials as short-term U.S. debt yields are higher than those overseas.

“It’s still a case of interest rates here in the U.S. are higher than anywhere in the developed world,” Gaffney said. “Therefore, when you look at the dollar versus the euro versus the yen, investors are paid more to hold dollars than to hold euros or yen right now.”

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Company: cnbc, Activity: cnbc, Date: 2019-03-04  Authors: fred imbert, hillary kladke, moment, getty images
Keywords: news, cnbc, companies, jawbone, currency, thats, lower, hiking, despite, investors, fed, trying, world, really, dollar, past, trump, rises


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China markets jump amid hopes of a Sino-US trade deal

Stocks in mainland China advanced on Monday following reports that the U.S and China might be close to finalizing a trade deal, with Beijing offering to lower tariffs on certain U.S. products. By the end of its trading day, the Shanghai composite rose 1.12 percent to close at about 3,027.58 — breaching the 3,000 level for the first time since June 2018. Meanwhile, the Shenzhen component surged 2.364 percent to close at 9,384.42 and the Shenzhen composite added 2.214 percent to finish its trading


Stocks in mainland China advanced on Monday following reports that the U.S and China might be close to finalizing a trade deal, with Beijing offering to lower tariffs on certain U.S. products. By the end of its trading day, the Shanghai composite rose 1.12 percent to close at about 3,027.58 — breaching the 3,000 level for the first time since June 2018. Meanwhile, the Shenzhen component surged 2.364 percent to close at 9,384.42 and the Shenzhen composite added 2.214 percent to finish its trading
China markets jump amid hopes of a Sino-US trade deal Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-04  Authors: eustance huang
Keywords: news, cnbc, companies, lower, china, index, shenzhen, hopes, trading, rose, jump, close, sinous, deal, shares, advanced, heavyweight, trade, amid, day, markets


China markets jump amid hopes of a Sino-US trade deal

Stocks in mainland China advanced on Monday following reports that the U.S and China might be close to finalizing a trade deal, with Beijing offering to lower tariffs on certain U.S. products.

By the end of its trading day, the Shanghai composite rose 1.12 percent to close at about 3,027.58 — breaching the 3,000 level for the first time since June 2018. Meanwhile, the Shenzhen component surged 2.364 percent to close at 9,384.42 and the Shenzhen composite added 2.214 percent to finish its trading day at 1,599.48.

Hong Kong’s Hang Seng index also rose more than 0.7 percent in its final hour of trading, with shares of Chinese telecommunications equipment firm ZTE gaining 1.84 percent.

Other markets in Asia mostly gained. Japan’s Nikkei 225 advanced 1.02 percent to close at 21,822.04 as shares of index heavyweight Fanuc jumped 3.48 percent. The Topix was 0.73 percent higher to end its trading day at 1,627.59.

The ASX 200 in Australia rose 0.4 percent to close at 6,217.40, with the materials subindex gaining 0.66 percent. Shares of major miners advanced: Rio Tinto added 1.59 percent, Fortescue Metals Group soared 6.86 percent and BHP Billiton gained 1.18 percent.

In South Korea, however, the Kospi shed earlier gains to close 0.22 percent lower at 2,190.66 with industry heavyweight Samsung Electronics declining 0.55 percent.


Company: cnbc, Activity: cnbc, Date: 2019-03-04  Authors: eustance huang
Keywords: news, cnbc, companies, lower, china, index, shenzhen, hopes, trading, rose, jump, close, sinous, deal, shares, advanced, heavyweight, trade, amid, day, markets


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Treasury yields slightly lower amid reports of US-China trade progress

Investor focus was mostly attuned to global trade developments Monday, after a Wall Street Journal report overnight said that the U.S. and China were closing in on a deal. The paper reported Sunday that China had offered to lower tariffs on U.S. farm, chemical and auto products as part of a trade agreement, while the U.S. was considering removing most, if not all, duties imposed on Chinese products last year. Last week, the White House economic advisor, Larry Kudlow, told CNBC that Washington an


Investor focus was mostly attuned to global trade developments Monday, after a Wall Street Journal report overnight said that the U.S. and China were closing in on a deal. The paper reported Sunday that China had offered to lower tariffs on U.S. farm, chemical and auto products as part of a trade agreement, while the U.S. was considering removing most, if not all, duties imposed on Chinese products last year. Last week, the White House economic advisor, Larry Kudlow, told CNBC that Washington an
Treasury yields slightly lower amid reports of US-China trade progress Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-04  Authors: ryan browne, rao aimin, xinhua news agency, getty images
Keywords: news, cnbc, companies, uschina, lower, china, washington, treasury, yields, products, progress, yearlast, white, bills, billion, slightly, reports, week, trade, amid


Treasury yields slightly lower amid reports of US-China trade progress

Investor focus was mostly attuned to global trade developments Monday, after a Wall Street Journal report overnight said that the U.S. and China were closing in on a deal.

The paper reported Sunday that China had offered to lower tariffs on U.S. farm, chemical and auto products as part of a trade agreement, while the U.S. was considering removing most, if not all, duties imposed on Chinese products last year.

Last week, the White House economic advisor, Larry Kudlow, told CNBC that Washington and Beijing were making “fantastic” progress in their negotiations.

Elsewhere, investors will likely monitor construction spending figures, which are due to be released at 10 a.m. ET.

Meanwhile, the Treasury is set to auction $48 billion in three-month Treasury bills and $39 billion in six-month bills on Monday.


Company: cnbc, Activity: cnbc, Date: 2019-03-04  Authors: ryan browne, rao aimin, xinhua news agency, getty images
Keywords: news, cnbc, companies, uschina, lower, china, washington, treasury, yields, products, progress, yearlast, white, bills, billion, slightly, reports, week, trade, amid


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Treasury Secretary Mnuchin says tax refunds are now back at last year’s level

Treasury Secretary Steven Mnuchin on Thursday sought to quell concerns about lower tax refunds this tax season, offering new data showing a recent surge in refunds. “People have been very focused on tax refunds,” Mnuchin told CNBC’s Hadley Gamble. “Tax refunds are up 17 percent week over week. The tax filing season kicked off at the end of January and there has been grumbling about lower refunds, even though many consumers saw a tax break last year with the new bill. “Those lower taxes is money


Treasury Secretary Steven Mnuchin on Thursday sought to quell concerns about lower tax refunds this tax season, offering new data showing a recent surge in refunds. “People have been very focused on tax refunds,” Mnuchin told CNBC’s Hadley Gamble. “Tax refunds are up 17 percent week over week. The tax filing season kicked off at the end of January and there has been grumbling about lower refunds, even though many consumers saw a tax break last year with the new bill. “Those lower taxes is money
Treasury Secretary Mnuchin says tax refunds are now back at last year’s level Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-28  Authors: fred imbert
Keywords: news, cnbc, companies, treasury, withholding, focused, secretary, lower, season, refunds, mnuchin, level, week, taxes, tax


Treasury Secretary Mnuchin says tax refunds are now back at last year's level

Treasury Secretary Steven Mnuchin on Thursday sought to quell concerns about lower tax refunds this tax season, offering new data showing a recent surge in refunds.

“People have been very focused on tax refunds,” Mnuchin told CNBC’s Hadley Gamble. “Tax refunds are up 17 percent week over week. That basically gets us to the same level as last year.”

He didn’t give a dollar amount, and the Treasury Department did not immediately respond to a CNBC query.

The tax filing season kicked off at the end of January and there has been grumbling about lower refunds, even though many consumers saw a tax break last year with the new bill. Through Feb. 15, the average refund check was down 16 percent from last year, according to the IRS.

“I would emphasize that even if people had perfectly done their withholding — withholding is complicated and I encourage people to go to the withholding calculator — people really should be focused on the fact they’re paying lower taxes,” Mnuchin said. “Those lower taxes is money going back into the economy, and that’s why we have the economic growth we do.”


Company: cnbc, Activity: cnbc, Date: 2019-02-28  Authors: fred imbert
Keywords: news, cnbc, companies, treasury, withholding, focused, secretary, lower, season, refunds, mnuchin, level, week, taxes, tax


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AWS chief Andy Jassy says it’s ‘really easy to cut prices’

“It’s actually really easy to lower prices,” Jassy told Jim Cramer on CNBC’s “Mad Money” on Thursday. “It’s much harder to be able to afford to lower prices.” “We’re much more focused on the long term than most companies,” Jassy said. “We started the company at a very early stage, and we had Oracle, and it takes work to actually move away from Oracle,” Jassy said. The core AWS services — EC2 for remotely performing computing tasks and S3 for data storage — came out in 2006.


“It’s actually really easy to lower prices,” Jassy told Jim Cramer on CNBC’s “Mad Money” on Thursday. “It’s much harder to be able to afford to lower prices.” “We’re much more focused on the long term than most companies,” Jassy said. “We started the company at a very early stage, and we had Oracle, and it takes work to actually move away from Oracle,” Jassy said. The core AWS services — EC2 for remotely performing computing tasks and S3 for data storage — came out in 2006.
AWS chief Andy Jassy says it’s ‘really easy to cut prices’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-28  Authors: jordan novet, jeniece pettitt
Keywords: news, cnbc, companies, oracle, cut, chief, jassy, companies, amazon, prices, services, trying, easy, aws, really, pay, andy, lower


AWS chief Andy Jassy says it's 'really easy to cut prices'

Amazon Web Services CEO Andy Jassy said that it’s fairly simple to lower the costs of various public cloud tools that it offers to customers.

Pricing is a big part of the battle as Amazon goes up against big technology companies like Alibaba, Google and Microsoft, in the public cloud market. Companies moving storage and workloads to the cloud often spend a significant percentage of their operating expenses on infrastructure.

“It’s actually really easy to lower prices,” Jassy told Jim Cramer on CNBC’s “Mad Money” on Thursday. “It’s much harder to be able to afford to lower prices.” In the past decade, AWS has cut prices 70 times, he said.

Other key areas where Amazon tries to stay ahead of the competition include geographic reach and the variety of tools that are available.

“We’re much more focused on the long term than most companies,” Jassy said. “We are trying to build a business and a set of customer relationships that outlasts all of us. And as such, we think if we help our customers get more done and are successful on their own, even if it means lower margin percentages, over time we’ll drive more absolute margin dollars, and they’ll be more successful, and we’ll ultimately be more relevant.”

Jassy pointed to start-up companies that have grown up on AWS, such as Airbnb, Lyft, Pinterest, Robinhood and Slack.

“I remember in 2007, 2008, when we had the recession, there were all of these very gloomy emails sent from a lot of venture capitalists, saying, ‘Don’t expect to get funded,'” Jassy said. “But actually, the number of start-ups kept growing, because as opposed to having to go raise money to pay for data centers and servers, people can try several instantiations of their idea on top of AWS.

“And if it isn’t getting traction, you pay something like 80 cents a month or $1.50 a month, whatever your usage is. And so we have loads of companies that are trying to build businesses on top of us that really only pay anything meaningful when they have traction.”

Pinterest spent around $190 million on AWS in 2018, The Information reported earlier this week.

Jassy said that Amazon itself is 88 percent finished with its wide-spanning migration off of Oracle database software and onto existing AWS technologies, and that the work will be complete later this year.

“We started the company at a very early stage, and we had Oracle, and it takes work to actually move away from Oracle,” Jassy said. “Lots of customers are learning this, as so many people are trying to move away from the commercial-grade legacy database providers like Oracle or [Microsoft] SQL Server to newer engines like Aurora.”

The core AWS services — EC2 for remotely performing computing tasks and S3 for data storage — came out in 2006. AWS now has 165 different services available, Jassy said.

AWS has become a crucial part of Amazon’s overall business. In 2018, the unit generated $25.66 billion in revenue, or 11 percent of Amazon’s total sales, up from 10 percent of overall revenue in 2017. Growth at AWS accelerated to 47 percent last year from 43 percent in 2017.

WATCH: How Amazon made record profits in 2018


Company: cnbc, Activity: cnbc, Date: 2019-02-28  Authors: jordan novet, jeniece pettitt
Keywords: news, cnbc, companies, oracle, cut, chief, jassy, companies, amazon, prices, services, trying, easy, aws, really, pay, andy, lower


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