Cramer Remix: This is a good stock in a bad market

For investors scouring the increasingly volatile stock market in search of good investments, CNBC’s Jim Cramer suggested an under-the-radar name on Monday: Zuora Inc.”[CEO] Tien Tzuo delivered a good number,” in late November, Cramer, host of “Mad Money,” told a lightning round caller. It’s a good stock in a bad market.” Also in the lightning round, Cramer laid out his thoughts on the stock of struggling industrial colossus General Electric. I’d rather you be in a really high-quality company tha


For investors scouring the increasingly volatile stock market in search of good investments, CNBC’s Jim Cramer suggested an under-the-radar name on Monday: Zuora Inc.”[CEO] Tien Tzuo delivered a good number,” in late November, Cramer, host of “Mad Money,” told a lightning round caller. It’s a good stock in a bad market.” Also in the lightning round, Cramer laid out his thoughts on the stock of struggling industrial colossus General Electric. I’d rather you be in a really high-quality company tha
Cramer Remix: This is a good stock in a bad market Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: elizabeth gurdus, adam jeffery, scott mlyn, adam glanzman, bloomberg, getty images
Keywords: news, cnbc, companies, really, stock, tien, cramer, good, round, remix, zuora, bad, highquality, lightning, market, jim


Cramer Remix: This is a good stock in a bad market

For investors scouring the increasingly volatile stock market in search of good investments, CNBC’s Jim Cramer suggested an under-the-radar name on Monday: Zuora Inc.

“[CEO] Tien Tzuo delivered a good number,” in late November, Cramer, host of “Mad Money,” told a lightning round caller. “It’s just that this stock is just violently out of favor.”

But “this is when you put a stock like Zuora away,” he said. “I believe in the subscription economy. I believe in what Tien Tzuo’s doing. Everyone kind of uses [Zuora] without even knowing it. It’s a good stock in a bad market.”

Also in the lightning round, Cramer laid out his thoughts on the stock of struggling industrial colossus General Electric.

“Here’s my thinking: there are so many really unbelievable stocks that are undervalued right now. I don’t want to take the risk,” he said. “Now, [at] $6, you could say, ‘Well, Jim, come on, it’s only $6 bucks.’ Well, I don’t know. I mean, remember: when it goes down, it still hurts. So you can speculate in GE, but there’s so many high-quality companies that are going down. I’d rather you be in a really high-quality company that sells at a much cheaper price-to-earnings multiple.”

Click here for the rest of Cramer’s lightning round.


Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: elizabeth gurdus, adam jeffery, scott mlyn, adam glanzman, bloomberg, getty images
Keywords: news, cnbc, companies, really, stock, tien, cramer, good, round, remix, zuora, bad, highquality, lightning, market, jim


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The action in Apple’s stock tells you everything you need to know about this market, says Jim Cramer

Apple stock action tells you all you need to know about this market, says Cramer 10 Hours Ago | 01:25As investors try to square conflicting reports on the state of the U.S. economy and U.S.-China trade relations, the action in shares of Apple has become a microcosm of the broader stock market, CNBC’s Jim Cramer said Monday. “In a way, Apple’s the perfect metaphor for this moment,” Cramer said as stocks swung higher after a wild trading session. For example, Apple’s stock dropped from $168 to $16


Apple stock action tells you all you need to know about this market, says Cramer 10 Hours Ago | 01:25As investors try to square conflicting reports on the state of the U.S. economy and U.S.-China trade relations, the action in shares of Apple has become a microcosm of the broader stock market, CNBC’s Jim Cramer said Monday. “In a way, Apple’s the perfect metaphor for this moment,” Cramer said as stocks swung higher after a wild trading session. For example, Apple’s stock dropped from $168 to $16
The action in Apple’s stock tells you everything you need to know about this market, says Jim Cramer Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: elizabeth gurdus
Keywords: news, cnbc, companies, sign, need, stock, know, cramer, shares, apples, action, way, apple, tells, market, sales, jim, trade


The action in Apple's stock tells you everything you need to know about this market, says Jim Cramer

Apple stock action tells you all you need to know about this market, says Cramer 10 Hours Ago | 01:25

As investors try to square conflicting reports on the state of the U.S. economy and U.S.-China trade relations, the action in shares of Apple has become a microcosm of the broader stock market, CNBC’s Jim Cramer said Monday.

“In a way, Apple’s the perfect metaphor for this moment,” Cramer said as stocks swung higher after a wild trading session. Shares of the iPhone maker traded lower intraday on worries that a legal move by Qualcomm would stymie Apple’s sales in China, but managed to launch a small rebound into the close.

Cramer, host of “Mad Money,” argued that Apple’s moves perfectly captured how flighty investors have become as they struggle to keep their conviction intact in this volatile market.

For example, Apple’s stock dropped from $168 to $164 a share on the Qualcomm news. Then, on CNBC’s “Halftime Report,” all four panelists, including Cramer, said that Apple’s shares had hit an interesting level to consider buying.

All of a sudden, “the stock turned on a dime, rallying $4 bucks from its lows while the show was on. Now, I’ve scoured the wires — nothing else happened during that period,” Cramer said. “I think it’s a sign, a sign that jittery, insecure, underconfident traders will take their cue from anything.”

“Don’t get me wrong, everyone on that panel is worth listening to,” he continued. “But the action here is a sign that the market’s become way too mercurial for many people.”

Speaking more broadly, Cramer pointed to some intriguing patterns in the stock. Apple’s shares peaked on Oct. 3 at $233, which amounted to a $1-trillion-plus market cap. On Monday, Apple’s market cap dipped below $800 billion.

Oct. 3 happened to be the same day that Federal Reserve Chair Jerome Powell said that interest rates were “a long way” from neutral, which told Cramer that Powell was considering essentially sacrificing economic success for the sake of curbing inflation with a series of rate hikes.

“In retrospect, his statement was such a confidence buster that Oct. 3 may have marked the peak of the entire business cycle,” Cramer said Monday.

The next day, Vice President Mike Pence gave a hardline speech on China at the Hudson Institute in which he cast the ongoing trade dispute as a way to curb China’s geopolitical ambitions, signaling a split in the White House between those who genuinely want a better trade deal and those who want to dismantle China’s position as a global superpower.

“Between Powell’s comments and Pence’s speech, Apple’s stock got hit with a one-two punch that, frankly, until today, I [didn’t] think it was going to recover from,” Cramer said. “Even though the company reported a darned good quarter at the beginning of November, it hasn’t been able to get much traction.”

Also weighing on Apple’s shares was the company’s choice to stop breaking down the quarterly sales results for its individual products, a move that many on Wall Street assumed was a sign that iPhone sales were slowing.

Add to that continuing analyst downgrades and reports of slowing demand for iPhones, and not only has Apple’s stock been struggling, but so have its investors, Cramer said.

“It’s very hard to have conviction in Apple when there’s so much uncertainty and the only thing we know for sure is that the company’s not going to disclose the number of iPhones it sells. I’m even hearing people fret that Apple may pre-announce to the downside because the previous guidance was too bullish,” he said.

And while Cramer stood by his longtime opinion that Apple creates “the finest consumer products in history,” even he admitted that he didn’t know what will happen with its stock, which is owned by his charitable trust.

“Right now, Apple, the stock, sells at a dramatic discount to the [average stock in] the S&P 500,” he said. “Analyst after analyst has slashed their price targets.”

That’s because, just like with the rest of the market, “it’s hard for anyone to have conviction when there’s so much negativity,” the “Mad Money” host concluded.

Shares of Apple ended the day up 0.66 percent at $169.60, rising slightly in after-hours trading.


Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: elizabeth gurdus
Keywords: news, cnbc, companies, sign, need, stock, know, cramer, shares, apples, action, way, apple, tells, market, sales, jim, trade


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The bear market is here, and stocks will plunge at least 20 percent, Ned Davis Research warns

This is already a bear market, stocks are plunging at least 20 percent: Ned Davis Research 5:09 PM ET Thu, 6 Dec 2018 | 01:56The wild trading that’s gripped Wall Street may be no ordinary correction. According to Ned Davis Research’s Ed Clissold, a bear market is officially here. A bear market is defined as an environment when overwhelming pessimism sparks a 20 percent drop or more from recent highs. Originally, Clissold called for a bear market to hit Wall Street in 2019, due to jitters over in


This is already a bear market, stocks are plunging at least 20 percent: Ned Davis Research 5:09 PM ET Thu, 6 Dec 2018 | 01:56The wild trading that’s gripped Wall Street may be no ordinary correction. According to Ned Davis Research’s Ed Clissold, a bear market is officially here. A bear market is defined as an environment when overwhelming pessimism sparks a 20 percent drop or more from recent highs. Originally, Clissold called for a bear market to hit Wall Street in 2019, due to jitters over in
The bear market is here, and stocks will plunge at least 20 percent, Ned Davis Research warns Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-09  Authors: stephanie landsman, spencer platt, getty images, tnwa photography, source, david a grogan
Keywords: news, cnbc, companies, plunge, street, market, warns, clissold, stocks, bear, 20, research, thats, high, hit, ned, davis, wall, going


The bear market is here, and stocks will plunge at least 20 percent, Ned Davis Research warns

This is already a bear market, stocks are plunging at least 20 percent: Ned Davis Research 5:09 PM ET Thu, 6 Dec 2018 | 01:56

The wild trading that’s gripped Wall Street may be no ordinary correction.

According to Ned Davis Research’s Ed Clissold, a bear market is officially here.

“If you take this as a typical bear market, not associated with a recession, it’s going to take you down around 20 percent — maybe a little bit more,” the firm’s chief U.S. market strategist told CNBC’s “Futures Now” last week. “That’s what we need to be thinking about over the next several months.”

A bear market is defined as an environment when overwhelming pessimism sparks a 20 percent drop or more from recent highs.

In this case, it would wipe out 588 points from the S&P 500’s all-time high of 2940.91 hit on Sept. 21. The index closed Friday in correction territory at 2,633.08. That’s down 10 percent from the high and 4.6 percent for the week.

Originally, Clissold called for a bear market to hit Wall Street in 2019, due to jitters over interest rate hike risks, U.S.-China trade tensions and slowing growth in earnings and the economy.

However, he decided to move up his forecast due to “severe” technical damage from the October correction. Now, it appears the market may soon get hit with another batch of discouraging news.

“Earnings growth is becoming a front-burner issue. Everybody expected it to slow down next year because we don’t have the benefit of tax cuts. But the slowdown is probably going to be more than expected,” said Clissold.

Earnings revisions have “already started to come down, and that’s going to continue to plague the market for a few more months.”

He may be predicting a deep pullback, but he does not see any signs of a recession. By spring, Clissold said, the pain will be largely behind the Street.

“The average nonrecession bear lasts about seven months. So, that’ll take us into early second quarter, and then we can look for a bottoming process from there,” Clissold said.

Despite the looming trouble, Clissold expects stocks will stage a healthy rally in the second half of 2019 and the market will ultimately see high single-digit to low double-digit gains by the end of next year.


Company: cnbc, Activity: cnbc, Date: 2018-12-09  Authors: stephanie landsman, spencer platt, getty images, tnwa photography, source, david a grogan
Keywords: news, cnbc, companies, plunge, street, market, warns, clissold, stocks, bear, 20, research, thats, high, hit, ned, davis, wall, going


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It’s a ‘messy correction’ – not a bear market, money manager says

Gordon, a senior portfolio manager on the firm’s technical asset allocation strategies team, blames uncertainty surrounding the U.S.-China trade war and Federal Reserve policy for the violent market swings. “The first and fundamental question: Is this a correction or is this the start of the bear market? While you can certainly see a path that could get us to a bear market, I think it’s more of a messy correction,” he told CNBC’s “Trading Nation” on Friday. He believes the correction will span a


Gordon, a senior portfolio manager on the firm’s technical asset allocation strategies team, blames uncertainty surrounding the U.S.-China trade war and Federal Reserve policy for the violent market swings. “The first and fundamental question: Is this a correction or is this the start of the bear market? While you can certainly see a path that could get us to a bear market, I think it’s more of a messy correction,” he told CNBC’s “Trading Nation” on Friday. He believes the correction will span a
It’s a ‘messy correction’ – not a bear market, money manager says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-08  Authors: stephanie landsman, ralph orlowski, bloomberg, getty images, brendan mcdermid, janhvi bhojwani, kcna, thomas barwick getty images, source, lawrence mcdonald
Keywords: news, cnbc, companies, trading, tariff, major, trade, war, messy, theyre, money, uschina, bear, market, risk, manager, correction


It's a 'messy correction' – not a bear market, money manager says

Russell Investments’ Doug Gordon is optimistic stocks will find a floor — just not until next year.

Gordon, a senior portfolio manager on the firm’s technical asset allocation strategies team, blames uncertainty surrounding the U.S.-China trade war and Federal Reserve policy for the violent market swings.

“The first and fundamental question: Is this a correction or is this the start of the bear market? While you can certainly see a path that could get us to a bear market, I think it’s more of a messy correction,” he told CNBC’s “Trading Nation” on Friday. “We could go a little deeper.”

Gordon’s comments came as the major indexes got hammered. The Dow, S&P 500 and Nasdaq saw their worst weekly performance since last March. The S&P closed back in correction territory, down more than 10 percent from its September 21 all-time high.

He believes the correction will span about two to four months, citing the end of the 90-day trade war ceasefire between the U.S. and China as an important marker.

“The sources of risk right now are really exogenous, meaning they’re hard to forecast,” Gordon said. “They’re risks obviously tied to trade restrictions and the tariff escalation.”

Trade has been Gordon’s major risk factor for U.S. stocks for much of the year. In late June on “Trading Nation,” he placed the U.S.-China tariff threat as a major economic risk in the second half of 2018. And, that issue has played a big role in the painful pullback.

“You could have full on global growth slowing as a result of a complete breakdown in the trade and tariff negotiations,” he said, even though it’s not his base case.


Company: cnbc, Activity: cnbc, Date: 2018-12-08  Authors: stephanie landsman, ralph orlowski, bloomberg, getty images, brendan mcdermid, janhvi bhojwani, kcna, thomas barwick getty images, source, lawrence mcdonald
Keywords: news, cnbc, companies, trading, tariff, major, trade, war, messy, theyre, money, uschina, bear, market, risk, manager, correction


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Cramer: Buy shares in cloud plays Salesforce, Splunk, VMware, Workday on downturns

When the stock market sells off, CNBC’s Jim Cramer always advises searching for stocks that have been dragged down with the broader market despite the strength of their underlying businesses. The last time the market endured a major sell-off, those stocks ended up being the “cloud kings,” Cramer’s group of top-quality plays in the cloud-computing software space. But now that Powell has seemingly reversed course and many of the cloud kings have reported much better-than-expected earnings results,


When the stock market sells off, CNBC’s Jim Cramer always advises searching for stocks that have been dragged down with the broader market despite the strength of their underlying businesses. The last time the market endured a major sell-off, those stocks ended up being the “cloud kings,” Cramer’s group of top-quality plays in the cloud-computing software space. But now that Powell has seemingly reversed course and many of the cloud kings have reported much better-than-expected earnings results,
Cramer: Buy shares in cloud plays Salesforce, Splunk, VMware, Workday on downturns Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-07  Authors: elizabeth gurdus
Keywords: news, cnbc, companies, stock, cramer, workday, plays, revenue, stocks, buy, investors, vmware, cloud, market, salesforce, know, downturns, earnings, kings, shares, splunk


Cramer: Buy shares in cloud plays Salesforce, Splunk, VMware, Workday on downturns

When the stock market sells off, CNBC’s Jim Cramer always advises searching for stocks that have been dragged down with the broader market despite the strength of their underlying businesses.

The last time the market endured a major sell-off, those stocks ended up being the “cloud kings,” Cramer’s group of top-quality plays in the cloud-computing software space.

But lately, investors have been wary of buying shares in the cloud stocks, and for good reason: in October, the group got crushed after Federal Reserve Chairman Jerome Powell signaled an aggressive interest rate hike agenda that could have spelled trouble for high-growth areas of the market.

But now that Powell has seemingly reversed course and many of the cloud kings have reported much better-than-expected earnings results, Cramer said the outlook is brighter than people initially thought.

“[The] cloud stocks pulled back hard today, [but] … we know that business is just fine because — in fact, maybe better than fine — because we just heard from the companies,” the “Mad Money” host said.

“Now that the group’s getting hit again, I’m thinking Salesforce, which my charitable trust owns, … Splunk, which is in our bullpen, VMware and Workday, four cloud companies that we know — because they just reported — are in great shape,” he continued.

Cramer began with Salesforce’s earnings report. Last Tuesday, the enterprise-facing cloud giant issued what its CEO cast as one of its most successful reports, topping earnings and revenue expectations and impressing Wall Street.

Splunk followed suit on Thursday with a top- and bottom-line estimate beat and 40 percent year-over-year revenue growth. Management raised its full-year revenue guidance and its outlook for 2019.

“[Splunk’s] stock took off last Friday. However, it’s quickly been giving back some of those gains,” Cramer told investors. “At $105, I think Splunk is a good bet, although I’d like it even more at lower levels, which you’re probably going to get … because this market is very volatile.”

VMware, which has transformed itself into a cloud infrastructure play in recent years, also delivered strong earnings, beating analysts’ expectations, raising its full-year earnings guidance and revealing a healthy revenue growth forecast for the year ahead.

“The slowest and steadiest of the cloud kings,” VMware is a good pick for investors concerned that the other cloud plays are too volatile, Cramer said.

Workday, a company that helps businesses streamline their human resources, payroll, expense management and procurement operations using the cloud, also had a blowout quarter. A major billings beat, faster revenue growth and earnings that were double what analysts expected sent its stock soaring.

“Here’s the bottom line: the last time we had a huge, marketwide sell-off, the cloud kings got crushed. But you know what? It turned out to be an amazing buying opportunity because the fundamentals were still going strong,” Cramer said.

This time should prove no different, the “Mad Money” host said, but investors shouldn’t buy “all at once,” he said. “It’s too crazy out there, too volatile. But when these stocks get hammered, they do actually become very attractive investments.”


Company: cnbc, Activity: cnbc, Date: 2018-12-07  Authors: elizabeth gurdus
Keywords: news, cnbc, companies, stock, cramer, workday, plays, revenue, stocks, buy, investors, vmware, cloud, market, salesforce, know, downturns, earnings, kings, shares, splunk


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If the Fed doesn’t raise rates this month, the market could panic, Cramer says

The Federal Reserve could cause “panic” on Wall Street if it reneges on its widely anticipated December interest rate hike, CNBC’s Jim Cramer said Friday. “Because he’s promised a rate hike, [Fed Chair Jerome Powell] risks stirring a wave of fear if he doesn’t tighten,” Cramer said as stocks fell on weaker-than-expected jobs results and trade worries. “It would be wrong to tighten, but if he doesn’t give us a full quarter-point rate hike, it will cause a panic,” the “Mad Money” host said. In fai


The Federal Reserve could cause “panic” on Wall Street if it reneges on its widely anticipated December interest rate hike, CNBC’s Jim Cramer said Friday. “Because he’s promised a rate hike, [Fed Chair Jerome Powell] risks stirring a wave of fear if he doesn’t tighten,” Cramer said as stocks fell on weaker-than-expected jobs results and trade worries. “It would be wrong to tighten, but if he doesn’t give us a full quarter-point rate hike, it will cause a panic,” the “Mad Money” host said. In fai
If the Fed doesn’t raise rates this month, the market could panic, Cramer says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-07  Authors: elizabeth gurdus
Keywords: news, cnbc, companies, rates, month, doesnt, cramer, wrong, fed, raise, trade, investors, interest, market, tighten, panic, rate, hike


If the Fed doesn't raise rates this month, the market could panic, Cramer says

The Federal Reserve could cause “panic” on Wall Street if it reneges on its widely anticipated December interest rate hike, CNBC’s Jim Cramer said Friday.

“Because he’s promised a rate hike, [Fed Chair Jerome Powell] risks stirring a wave of fear if he doesn’t tighten,” Cramer said as stocks fell on weaker-than-expected jobs results and trade worries. “Investors will start presuming that something must be wrong, very wrong, that things are worse than they thought.”

But even if the central bank decides that it’s worth taking a more data-dependent approach after the weaker jobs data, its chief has put himself in a difficult position with his recent statements, Cramer said.

“No one wants the Fed to tighten going into a slowdown, especially when we might be in a tariff war around the globe. People want the Fed to be flexible. Thanks to his previous comments, though, Powell’s in a lose-lose situation,” he said, pointing to Powell’s remarksthat interest rates were “just below” where they should be.

“It would be wrong to tighten, but if he doesn’t give us a full quarter-point rate hike, it will cause a panic,” the “Mad Money” host said. “I hate to say it, Mr. Powell, but, here goes: I told you so.”

In fairness, Cramer said he “totally” understood why the Fed would raise interest rates this month, citing still-strong Purchasing Managers’ Index reports, healthy retail sales and close-to-full employment.

“The fact is, though, the economy’s slowing and the stock market sure shows it. […] That’s why it’s so skittish,” he explained. The major averages have endured drastic intraday swings this week as investors fretted about a host of economic pressures, including but not limited to the U.S.-China trade dispute.

Earlier this week, a “yield curve inversion” between the three- and the five-year Treasury yields also set off warning bells on Wall Street and spurred a sharp sell-off in stocks.

“Maybe a creative Fed chief could square that circle by holding off on a rate hike, but maybe selling some of the long-term bonds that they’ve been sitting on since the financial crisis — a different kind of tightening that would fix the inverted yield curve situation,” Cramer said. “Although, … ideally, you don’t want any tightening and the Fed would simply sit tight.”

All things considered — including the S&P 500 index turning negative for the year — investors should prepare for more market swings in the coming weeks, the “Mad Money” host warned.

“I think we’re going to have to slog through these volatility sessions for a bit, as there are all sorts of difficult crosscurrents here” including U.S.-China trade relations and the weakness in shares of stock market bellwether Apple, he said.

“And, of course, an errant Federal Reserve that’s backed itself into a corner when it comes to the next rate hike,” he added. “Get used to these crosscurrents, because this is the new normal, at least for now.”


Company: cnbc, Activity: cnbc, Date: 2018-12-07  Authors: elizabeth gurdus
Keywords: news, cnbc, companies, rates, month, doesnt, cramer, wrong, fed, raise, trade, investors, interest, market, tighten, panic, rate, hike


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Dollar dips versus yen as growth concerns shake confidence

The dollar fell against the yen on Thursday as growing investor aversion to riskier assets hit equities and pushed down U.S. Treasury yields. Global equity markets have been shaken and the dollar fell this week after an inversion in a part of the U.S. Treasury yield curve triggered market concerns about economic growth. U.S. Treasury yields fell, pressuring the dollar. “Lower Treasury yields are driving the dollar lower against the yen. The euro lost 0.42 percent to 127.85 yen, the Australian do


The dollar fell against the yen on Thursday as growing investor aversion to riskier assets hit equities and pushed down U.S. Treasury yields. Global equity markets have been shaken and the dollar fell this week after an inversion in a part of the U.S. Treasury yield curve triggered market concerns about economic growth. U.S. Treasury yields fell, pressuring the dollar. “Lower Treasury yields are driving the dollar lower against the yen. The euro lost 0.42 percent to 127.85 yen, the Australian do
Dollar dips versus yen as growth concerns shake confidence Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-06  Authors: matt cardy, getty images
Keywords: news, cnbc, companies, growth, dollar, concerns, meeting, lower, treasury, versus, dips, confidence, yields, fell, yen, yield, week, shake, market


Dollar dips versus yen as growth concerns shake confidence

The dollar fell against the yen on Thursday as growing investor aversion to riskier assets hit equities and pushed down U.S. Treasury yields.

The U.S. currency dropped 0.45 percent to 112.68 yen, handing back its modest gains made overnight.

Global equity markets have been shaken and the dollar fell this week after an inversion in a part of the U.S. Treasury yield curve triggered market concerns about economic growth.

Adding to the jitters on Thursday was the arrest in Canada of a top executive of Chinese tech giant Huawei Technologies, fanning fears of a flare-up in tensions between China and the United States just as the two sides are supposed to be resuming trade negotiations.

MSCI’s broadest index of Asia-Pacific shares outside Japan was down 1.93 percent and Japan’s Nikkei lost more than 2 percent.

U.S. Treasury yields fell, pressuring the dollar.

“Lower Treasury yields are driving the dollar lower against the yen. It is difficult to pinpoint how much funds investors have transferred from equities to bonds in the recent risk aversion and it is too early to call a bottom for Treasury yields,” said Yukio Ishizuki, senior currency strategist at Daiwa Securities.

The 10-year Treasury yield last stood at 2.8829 percent.

Signals from the Federal Reserve last week that it may be nearing an end to its three-year rate hiking cycle have helped trigger the slide in Treasury yields.

The spread between the two-year and five-year Treasury yields inverted this week and the two-year/10-year spread was at its flattest in more than a decade amid a sharp fall in long-term rates.

A flatter curve is seen as an indicator of a slowing economy, with lower longer-dated yields suggesting a potential recession down the road.

“The dollar could remain under pressure until this month’s Fed meeting as long-term Treasury yields may not be able to mount a rebound until the market sees the Fed’s stance on policy and the economy,” said Junichi Ishikawa, senior FX strategist at IG Securities in Tokyo.

“The recent reaction to the U.S. yield curve inversion appears a little hysterical, but the dollar will not be given the all clear sign until the Fed meeting is hurdled.”

Fed policymakers are still widely expected to raise interest rates again at their Dec 18-19 meeting, but the market focus is on how many rate hikes will follow in 2019.

The yen, often sought in times of market unrest, made strides against other peers as well.

The euro lost 0.42 percent to 127.85 yen, the Australian dollar slumped 1.02 percent to 81.44 yen and the pound fell 0.55 percent to 143.33 yen.

The euro was little changed at $1.1346 after retreating from this week’s high of $1.1419 scaled on Tuesday.

The Australian dollar, sensitive to swings in risk sentiment, was down 0.58 percent at $0.7226.

The Aussie was already on a shaky footing after shedding nearly 1 percent the previous day on weaker-than-expected third quarter Australian gross domestic product data.

The pound was a shade lower at $1.2723.

Sterling had sunk to a 17-month low of $1.2659 at one point on Tuesday after parliamentary setbacks for Prime Minister Theresa May.

— CNBC contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2018-12-06  Authors: matt cardy, getty images
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Shares of Apple suppliers crumble after lensmaker reports more than 25 percent decline in revenue

Elsewhere in Asia, shares of Japanese electronic parts maker TDK fell 6.64 percent while component supplier Murata Manufacturing shed 5.30 percent. South Korean industry heavyweight Samsung Electronics also fell 2.29 percent while Hong Kong-listed acoustic components maker AAC Technologies declined by 5.59 percent. The Apple suppliers’ declines came amid a wider rout in Asian technology companies on Thursday that followed the arrest of Huawei’s CFO in Canada. Apple’s stock was not trading on Wed


Elsewhere in Asia, shares of Japanese electronic parts maker TDK fell 6.64 percent while component supplier Murata Manufacturing shed 5.30 percent. South Korean industry heavyweight Samsung Electronics also fell 2.29 percent while Hong Kong-listed acoustic components maker AAC Technologies declined by 5.59 percent. The Apple suppliers’ declines came amid a wider rout in Asian technology companies on Thursday that followed the arrest of Huawei’s CFO in Canada. Apple’s stock was not trading on Wed
Shares of Apple suppliers crumble after lensmaker reports more than 25 percent decline in revenue Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-06  Authors: eustance huang, stephanie keith, getty images
Keywords: news, cnbc, companies, shares, apple, revenue, unit, maker, crumble, decline, 25, tech, stock, lensmaker, price, market, hsbc, suppliers, reports


Shares of Apple suppliers crumble after lensmaker reports more than 25 percent decline in revenue

Elsewhere in Asia, shares of Japanese electronic parts maker TDK fell 6.64 percent while component supplier Murata Manufacturing shed 5.30 percent. South Korean industry heavyweight Samsung Electronics also fell 2.29 percent while Hong Kong-listed acoustic components maker AAC Technologies declined by 5.59 percent.

“The sell-off isn’t surprising, since several major Apple suppliers — including Cirrus Logic, Qorvo, and Lumentum — all recently slashed their guidance, which suggests that Apple’s iPhone shipments (have) peaked,” Leo Sun, a tech and consumer goods specialist at The Motley Fool, told CNBC in an email.

The Apple suppliers’ declines came amid a wider rout in Asian technology companies on Thursday that followed the arrest of Huawei’s CFO in Canada.

Beyond the cutting of suppliers’ guidance, Sun said many questions surrounding the U.S.-China trade dispute “remain unresolved, with both sides offering conflicting versions of the agreement” that was made last weekend between the countries’ leaders at the G-20 summit in Argentina.

Beyond that, he said: “The flattening (and potentially inverting) yield curve in the US bond market also strongly indicates that the economy is slowing down — which will throttle demand for chips across multiple industries.”

Apple’s stock was not trading on Wednesday as the U.S. stock markets were closed in honor of former president George H.W. Bush. The Cupertino-based tech giant saw its shares fall about 4.40 percent on Tuesday after HSBC downgraded the company to hold from buy and cut its 12-month price target to $200 from $205.

“Apple’s iconic hardware unit growth is broadly over for now,” HSBC analysts said in the note.

“Revenues are only supported by higher selling prices and by the development of services. Flat unit growth has hit Apple’s share price and incidentally its key suppliers. What has made the success of Apple, a concentrated portfolio of highly desirable (and pricy) products is now facing the reality of market saturation,” they said.

— Reuters and CNBC’s John Melloy contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2018-12-06  Authors: eustance huang, stephanie keith, getty images
Keywords: news, cnbc, companies, shares, apple, revenue, unit, maker, crumble, decline, 25, tech, stock, lensmaker, price, market, hsbc, suppliers, reports


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OPEC meeting ends with no decision on production levels

OPEC has reportedly agreed to cut oil production, but the cartel ended its closely-watched meeting on Thursday without specifying how many barrels it would aim to remove from the market. The influential OPEC oil cartel gathered at its headquarters in Vienna, Austria with the aim of reaching an accord over throttling back output. The much-anticipated meeting comes at a time when the oil market is near the bottom of its worst price plunge since the 2008 financial crisis. However, OPEC delayed maki


OPEC has reportedly agreed to cut oil production, but the cartel ended its closely-watched meeting on Thursday without specifying how many barrels it would aim to remove from the market. The influential OPEC oil cartel gathered at its headquarters in Vienna, Austria with the aim of reaching an accord over throttling back output. The much-anticipated meeting comes at a time when the oil market is near the bottom of its worst price plunge since the 2008 financial crisis. However, OPEC delayed maki
OPEC meeting ends with no decision on production levels Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-06  Authors: sam meredith, tom dichristopher
Keywords: news, cnbc, companies, oil, production, levels, reduce, opec, output, opecs, ends, market, decision, meeting, group, russia


OPEC meeting ends with no decision on production levels

OPEC has reportedly agreed to cut oil production, but the cartel ended its closely-watched meeting on Thursday without specifying how many barrels it would aim to remove from the market.

The influential OPEC oil cartel gathered at its headquarters in Vienna, Austria with the aim of reaching an accord over throttling back output. The 15-member organization will hold talks with allied oil-producing nations including Russia on Friday.

The much-anticipated meeting comes at a time when the oil market is near the bottom of its worst price plunge since the 2008 financial crisis. Oil prices have crashed around 30 percent over the last two months, ratcheting up the pressure on budgets in oil-exporting countries.

Yet Russia’s refusal to commit to a production quota and OPEC’s failure to hammer out the details of a deal underscore the divisions within the two-year-old alliance, despite consensus that the group needs to take some form of action to boost the market.

OPEC has agreed in principle to reduce its output, two sources told Reuters on Thursday. However, OPEC delayed making a decision on how deeply it would cut production until after it meets with Russia on Friday. With few details to offer journalists, OPEC canceled a scheduled press conference.

“The fact that they’re saying the debate will continue tomorrow emphasizes the disarray,” said John Kilduff, founding partner at energy hedge fund Again Capital.

Saudi Arabia, OPEC’s largest producer, signaled earlier on Thursday that the group may reduce production less than the market expected.


Company: cnbc, Activity: cnbc, Date: 2018-12-06  Authors: sam meredith, tom dichristopher
Keywords: news, cnbc, companies, oil, production, levels, reduce, opec, output, opecs, ends, market, decision, meeting, group, russia


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Leon Cooperman says SEC needs to investigate computer trading for causing ‘Wild West’ with markets

“In the mid-1930s, they instituted the Uptick Rule to deal with the abuses of 1929. “And they created a wild, Wild West environment in the stock market.” They come about from certain fundamental reasons the stock market is seeing,” Cooperman said. “The number one cause of a bear market is the stock market smelling an oncoming recession. The Uptick Rule mandated that every short sale be submitted at a higher price than the previous trade, ensuring that short sellers’ orders would be filled on an


“In the mid-1930s, they instituted the Uptick Rule to deal with the abuses of 1929. “And they created a wild, Wild West environment in the stock market.” They come about from certain fundamental reasons the stock market is seeing,” Cooperman said. “The number one cause of a bear market is the stock market smelling an oncoming recession. The Uptick Rule mandated that every short sale be submitted at a higher price than the previous trade, ensuring that short sellers’ orders would be filled on an
Leon Cooperman says SEC needs to investigate computer trading for causing ‘Wild West’ with markets Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-06  Authors: thomas franck
Keywords: news, cnbc, companies, leon, wild, rule, markets, stock, cooperman, short, volatility, west, trading, market, investigate, computer, uptick, sec, needs


Leon Cooperman says SEC needs to investigate computer trading for causing 'Wild West' with markets

Omega Advisors founder Leon Cooperman on Thursday blamed the Securities and Exchange Commission for failing to address the impact computerized trading has had on the broader market and how it exacerbates volatility during market swings.

“I think your next guest ought to be somebody from the SEC to explain why they have sat back calmly, quietly, without saying anything and allowing these algorithmic, trend-following models to wreak havoc with what has, up to now, been the best capital market in the world,” Cooperman told CNBC’s Scott Wapner on the “Halftime Report.”

“In the mid-1930s, they instituted the Uptick Rule to deal with the abuses of 1929. It worked effectively for 70-odd years. They took it out in 2008 for some unexplainable reason,” he added. “And they created a wild, Wild West environment in the stock market.”

John Nester, a spokesman for the SEC, declined to respond to Cooperman’s comments.

The billionaire’s comments came after the Dow Jones Industrial Average suffered an almost 800-point drop on Tuesday and as the index fell nearly 700 points on Thursday afternoon. The major stock indexes have plummeted in recent sessions as fears over a slowdown in economic growth and the U.S.-China trade war grip market participants. The Dow later recovered the vast majority of its losses Thursday after a report that the Federal Reserve may adopt a “wait-and-see” approach to future rate hikes.

“Bear markets don’t materialize out of immaculate conception. They come about from certain fundamental reasons the stock market is seeing,” Cooperman said. “The number one cause of a bear market is the stock market smelling an oncoming recession. I won’t cite all the economic data, but there’s just no signs of recession.”

The Uptick Rule mandated that every short sale be submitted at a higher price than the previous trade, ensuring that short sellers’ orders would be filled on an uptick. The rule, a product of the 1930s, prevented short sellers from adding to the downward momentum of an asset already experiencing sharp declines.

The rule was removed in 2007, though an abbreviated version was been reintroduced in 2010.

“Get somebody from the SEC to explain why they eliminated the Uptick Rule and what do they think about these quantitative trading systems that have created a tremendous amount of volatility in the market, scared the public, [and] effectively raised the cost of capital to business,” Cooperman said. “Why have they sat back and allowed this to go on? Maybe they have a good explanation.”

He also said the turbulence in stocks is just part of a market correction because there are no hints of a recession.


Company: cnbc, Activity: cnbc, Date: 2018-12-06  Authors: thomas franck
Keywords: news, cnbc, companies, leon, wild, rule, markets, stock, cooperman, short, volatility, west, trading, market, investigate, computer, uptick, sec, needs


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