US wants a more stable yuan, China wants that too: Experts

“The risk of Beijing engaging in CNY devaluation is an overstated, if not imagined, risk.” “Fact is, the PBoC is also after a stable CNY,” he said, using the three-letter abbreviation for the Chinese yuan (which is also called the renminbi, or RMB). “The idea of CNY devaluation as a (mercantilist) strategy is not only outdated, but is also misguided,” Varathan said. “The risk of Beijing engaging in CNY devaluation is an overstated, if not imagined, risk,” he said. “First, China, as a responsible


“The risk of Beijing engaging in CNY devaluation is an overstated, if not imagined, risk.” “Fact is, the PBoC is also after a stable CNY,” he said, using the three-letter abbreviation for the Chinese yuan (which is also called the renminbi, or RMB). “The idea of CNY devaluation as a (mercantilist) strategy is not only outdated, but is also misguided,” Varathan said. “The risk of Beijing engaging in CNY devaluation is an overstated, if not imagined, risk,” he said. “First, China, as a responsible
US wants a more stable yuan, China wants that too: Experts Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-22  Authors: weizhen tan, afp, getty images, -vishnu varathan, mizuho bank head of economics
Keywords: news, cnbc, companies, china, markets, market, experts, wants, exchange, devaluation, yuan, stable, trade, strategy, cny, risk, chinese


US wants a more stable yuan, China wants that too: Experts

“The risk of Beijing engaging in CNY devaluation is an overstated, if not imagined, risk.”

That reportedly hasn’t stopped the White House from seeking assurances there’d be no devaluation, but that American pursuit for yuan stability is “superfluous,” according to Mizuho Bank Head of Economics and Strategy Vishnu Varathan.

“Fact is, the PBoC is also after a stable CNY,” he said, using the three-letter abbreviation for the Chinese yuan (which is also called the renminbi, or RMB).

The world’s second-largest economy has been on a drive to open up its financial sector, and has also been pushing for more international use of the yuan. So, it’s already in China’s interest to maintain currency stability as Beijing opens domestic markets up to international investment, said Tuan Huynh, emerging markets chief investment officer at Deutsche Bank Wealth Management.

“The idea of CNY devaluation as a (mercantilist) strategy is not only outdated, but is also misguided,” Varathan said. “Beijing’s struggle at the margin is to prevent abrupt and excessive slide in the CNY (brought about by US-China trade risks, which in turn could trigger capital outflows and asset market wobbles).” Editor’s note: Varathan included the above parentheses in his emailed comments to CNBC.

“The risk of Beijing engaging in CNY devaluation is an overstated, if not imagined, risk,” he said.

Chinese authorities also dismissed such concerns in a press conference on Wednesday, following Bloomberg’s report that sources familiar with the trade negotiations said Trump’s team is asking China to keep the yuan stable.

“First, China, as a responsible major country, has made clear its position repeatedly that it does not engage in competitive devaluation. Second, we will not use the RMB exchange rate as a tool amid trade disputes,” said Chinese Foreign Ministry spokesman Geng Shuang.

He added: “Third, we hope the US can respect law of markets and objective facts, and refrain from politicizing exchange rate issues.”

Jameel Ahmad, global head of currency strategy and market research at foreign exchange broker FXTM, echoed that sentiment, saying the idea of a Chinese devaluation is not worthy of attention “in the current day and age.”

If anything, he added, a neutral observer would expect Beijing’s “preference would be for strength in the Chinese currency, because of the impact this can have on risk appetite and emerging market sentiment.”


Company: cnbc, Activity: cnbc, Date: 2019-02-22  Authors: weizhen tan, afp, getty images, -vishnu varathan, mizuho bank head of economics
Keywords: news, cnbc, companies, china, markets, market, experts, wants, exchange, devaluation, yuan, stable, trade, strategy, cny, risk, chinese


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European markets mixed amid US-China trade talks; Elekta shares tumble 10%

Europe’s basic resources stocks — with their heavy exposure to China — were the top performers during morning trade, up more than 1.3 percent. It comes as market focus is largely attuned to global trade negotiations, with little more than a week left before a U.S-imposed deadline for an agreement with China expires. Chinese Vice Premier Liu He is scheduled to meet with President Donald Trump at the White House on Friday. Looking at individual stocks, France’s Sopra Steria Group surged to the top


Europe’s basic resources stocks — with their heavy exposure to China — were the top performers during morning trade, up more than 1.3 percent. It comes as market focus is largely attuned to global trade negotiations, with little more than a week left before a U.S-imposed deadline for an agreement with China expires. Chinese Vice Premier Liu He is scheduled to meet with President Donald Trump at the White House on Friday. Looking at individual stocks, France’s Sopra Steria Group surged to the top
European markets mixed amid US-China trade talks; Elekta shares tumble 10% Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-22  Authors: sam meredith
Keywords: news, cnbc, companies, european, china, vice, shares, mixed, markets, weakerthanexpected, group, talks, tumble, trade, stocks, uschina, elekta, white, week, amid, usimposed


European markets mixed amid US-China trade talks; Elekta shares tumble 10%

Europe’s basic resources stocks — with their heavy exposure to China — were the top performers during morning trade, up more than 1.3 percent. It comes as market focus is largely attuned to global trade negotiations, with little more than a week left before a U.S-imposed deadline for an agreement with China expires.

Chinese Vice Premier Liu He is scheduled to meet with President Donald Trump at the White House on Friday. The meeting follows reports that both sides have started to outline commitments in principle on the stickiest issues in their protracted dispute.

Looking at individual stocks, France’s Sopra Steria Group surged to the top of the European benchmark. The consultancy group reported full-year revenue jumped almost 7 percent in 2018 and forecast a slight improvement in operating margin on business activity. Shares of the Paris-listed stock rose nearly 16 percent on the news.

Meanwhile, Swedish radiation therapy equipment maker Elekta tumbled to the bottom of the index. The company posted weaker-than-expected third-quarter core profit on Friday, prompting shares to tank more than 11 percent.


Company: cnbc, Activity: cnbc, Date: 2019-02-22  Authors: sam meredith
Keywords: news, cnbc, companies, european, china, vice, shares, mixed, markets, weakerthanexpected, group, talks, tumble, trade, stocks, uschina, elekta, white, week, amid, usimposed


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Next week will be pivotal for markets with trade deadline, Powell, Trump-Kim, Mueller and more

The coming week could be one of the most pivotal for the White House and the markets, depending on how President Donald Trump chooses to proceed with China trade tariffs and what is in a possible report from special counsel Robert Mueller on the president’s campaign. U.S.-China trade talks apparently have been making progress, and in a positive sign, sources say a possible meeting between Trump and Chinese President Xi Jinping is being discussed for late March. Strategists expect some eventual d


The coming week could be one of the most pivotal for the White House and the markets, depending on how President Donald Trump chooses to proceed with China trade tariffs and what is in a possible report from special counsel Robert Mueller on the president’s campaign. U.S.-China trade talks apparently have been making progress, and in a positive sign, sources say a possible meeting between Trump and Chinese President Xi Jinping is being discussed for late March. Strategists expect some eventual d
Next week will be pivotal for markets with trade deadline, Powell, Trump-Kim, Mueller and more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-22  Authors: patti domm, jim young
Keywords: news, cnbc, companies, trumpkim, pivotal, markets, trump, week, president, mueller, shutdown, powell, report, deadline, trade, data, possible, tariffs


Next week will be pivotal for markets with trade deadline, Powell, Trump-Kim, Mueller and more

The coming week could be one of the most pivotal for the White House and the markets, depending on how President Donald Trump chooses to proceed with China trade tariffs and what is in a possible report from special counsel Robert Mueller on the president’s campaign.

U.S.-China trade talks apparently have been making progress, and in a positive sign, sources say a possible meeting between Trump and Chinese President Xi Jinping is being discussed for late March. Strategists expect some eventual deal to be reached, but first and foremost, the March 2 deadline on new tariffs looms at the end of the week. For now, it looks like the deadline could be extended.

Mueller is expected to provide a report to Attorney General William Barr on what he found out about the Trump campaign and Russia in the next several days, according to news reports. Barr could then pass the report, or a summary of it, to Congress.

The week is packed with major events that could be market moving, including two days of economic testimony from Federal Reserve Chairman Jerome Powell. He appears before the Senate Banking Committee on Tuesday, and then a House committee Wednesday for the semiannual testimony.

Trump also heads to Vietnam for a summit with North Korean leader Kim Jong Un on Wednesday and Thursday, and U.K. Prime Minister Theresa May faces another Brexit vote in parliament.

The markets are also closely watching U.S. economic data after a string of misses on manufacturing and consumer data rattled stocks in the past couple of weeks. The lack of government data during the 35-day government shutdown has made it more difficult than usual to get a handle on the economy, and some economists now see fourth-quarter and first-quarter growth running at just 2 percent or below. Fourth-quarter GDP, delayed because of the shutdown, is finally released on Thursday.


Company: cnbc, Activity: cnbc, Date: 2019-02-22  Authors: patti domm, jim young
Keywords: news, cnbc, companies, trumpkim, pivotal, markets, trump, week, president, mueller, shutdown, powell, report, deadline, trade, data, possible, tariffs


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Market’s longest win streak since 1995 could end badly: Art Hogan

The market’s win streak could break down at any time, Art Hogan warns 20 Hours Ago | 01:01The Dow is seeing its longest weekly win streak in almost 24 years. But according to National Securities’ Art Hogan the win streak could go badly at anytime. When the Dow’s 10-week win streak ended on May 12, 1995, it fell 2 percent the following week. Hogan, who has a 2,850 year-end target on the S&P 500, wouldn’t advise going to cash if a sell-off strikes. In just the first eight weeks of this year, the D


The market’s win streak could break down at any time, Art Hogan warns 20 Hours Ago | 01:01The Dow is seeing its longest weekly win streak in almost 24 years. But according to National Securities’ Art Hogan the win streak could go badly at anytime. When the Dow’s 10-week win streak ended on May 12, 1995, it fell 2 percent the following week. Hogan, who has a 2,850 year-end target on the S&P 500, wouldn’t advise going to cash if a sell-off strikes. In just the first eight weeks of this year, the D
Market’s longest win streak since 1995 could end badly: Art Hogan Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-21  Authors: stephanie landsman, adam jeffery, cem ozdel, anadolu agency, getty images, timothy fadek, bloomberg, source, apex legends, kcna
Keywords: news, cnbc, companies, streak, consolidation, hogan, week, badly, dow, sp, end, potential, art, longest, markets, 1995, going, win


Market's longest win streak since 1995 could end badly: Art Hogan

The market’s win streak could break down at any time, Art Hogan warns 20 Hours Ago | 01:01

The Dow is seeing its longest weekly win streak in almost 24 years.

It’s tracking to see its ninth positive week in a row.

But according to National Securities’ Art Hogan the win streak could go badly at anytime.

“We’re probably going to have a bit of a consolidation period in front of us,” he said Wednesday on CNBC’s “Trading Nation” — pointing to the sheer magnitude of gains in a short time span.

When the Dow’s 10-week win streak ended on May 12, 1995, it fell 2 percent the following week. Ultimately, the blue chip index was flat over the next month.

This time around, Hogan predicts a more volatile outcome.

“If you look back to the December low and the 18 percent pop we’ve had since then, … it makes sense to have a week or two of consolidation,” he said.

Hogan, who has a 2,850 year-end target on the S&P 500, wouldn’t advise going to cash if a sell-off strikes.

If his consolidation forecast takes shape, he recommends putting money to work in health care, industrials and technology — excluding social media names due to potential regulatory headwinds. He lists attractive valuations and growth potential as reasons to consider buying them.

“Even if we trace half of the move since Dec. 26, it gets you down 8 or 9 percent,” Hogan said. “That would be a significant place to be thinking about getting more involved in some of those sectors.”

In just the first eight weeks of this year, the Dow and S&P 500 have rallied by 11 percent.


Company: cnbc, Activity: cnbc, Date: 2019-02-21  Authors: stephanie landsman, adam jeffery, cem ozdel, anadolu agency, getty images, timothy fadek, bloomberg, source, apex legends, kcna
Keywords: news, cnbc, companies, streak, consolidation, hogan, week, badly, dow, sp, end, potential, art, longest, markets, 1995, going, win


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Fidelity notches record profit and revenue despite a slowdown in stock markets

Fidelity Investments had a historic 2018, even as stock markets saw their worst performance in a decade. For the asset management business, the fourth-quarter turmoil was a “significant detractor to Fidelity’s equity performance for the year,” Stephen Neff, president of Fidelity Asset Management said in the letter. From the start of August to the end of last year, clients ushered $2.9 billion of assets into those new “ZERO” funds, Johnson said. But it also spends roughly $2.5 billion per year in


Fidelity Investments had a historic 2018, even as stock markets saw their worst performance in a decade. For the asset management business, the fourth-quarter turmoil was a “significant detractor to Fidelity’s equity performance for the year,” Stephen Neff, president of Fidelity Asset Management said in the letter. From the start of August to the end of last year, clients ushered $2.9 billion of assets into those new “ZERO” funds, Johnson said. But it also spends roughly $2.5 billion per year in
Fidelity notches record profit and revenue despite a slowdown in stock markets Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-21  Authors: kate rooney, essdras m suarez, the boston globe, getty images
Keywords: news, cnbc, companies, profit, fidelity, notches, stock, billion, 2018, retail, fidelitys, record, asset, despite, performance, markets, johnson, million, revenue, funds, slowdown


Fidelity notches record profit and revenue despite a slowdown in stock markets

Fidelity Investments had a historic 2018, even as stock markets saw their worst performance in a decade.

For the first time in history, Fidelity’s annual income topped $6 billion. It closed 2018 with a 19 percent increase in operating income, totaling $6.3 billion for the year. The Boston-based firm raked in a record $20.4 billion in revenue last year, a roughly 12 percent increase from a year earlier, according to Fidelity’s annual report.

The results were helped by diversity in Fidelity’s businesses as the firm made “extensive moves” to add product and service offerings across the retail brokerage, workplace benefits, and institutional investing, Fidelity chairman and chief executive Abigail Johnson said in a letter to shareholders.

The strong results highlight success of Fidelity’s years-long effort to add new lines of business aside from just stock-picking.

“Fidelity’s diverse group of businesses and broad set of investment solutions helped to offset the negative effects that the stock market’s decline would have otherwise had on the company’s asset levels,” Johnson said in the annual shareholder letter.

Markets stumbled late last year with major indexes posting their worst performance in a decade. The S&P 500 lost 6 percent in 2018. For Fidelity, assets under administration declined 1.5 percent at the end of last year, totaling $6.69 trillion. Assets under administration includes the money Fidelity oversees for retirement account and brokerage clients.

For the asset management business, the fourth-quarter turmoil was a “significant detractor to Fidelity’s equity performance for the year,” Stephen Neff, president of Fidelity Asset Management said in the letter. Still, asset management delivered solid performance. In aggregate, Fidelity said its mutual funds outperformed peers by 66 percent, 72 percent, and 76 percent for the trailing one, three, and five-year periods respectively.

Last summer, the company announced a suite of zero-fee funds for retail investors. They offer zero investment and account minimums, no fees and no domestic money movement fees. From the start of August to the end of last year, clients ushered $2.9 billion of assets into those new “ZERO” funds, Johnson said.

The firm’s total customer base also grew last year. Fidelity, which was founded by the Johnson family in 1946, serviced 31.1 million workplace and health care participants in 2018, a 6 percent increase from a year earlier. Its 20.8 million retail clients were up 7 percent from a year earlier, and the 7.1 million accounts managed by intermediaries on Fidelity’s clearing and custody platform grew 6.5 percent from year-end 2017.

The family-controlled firm is known for managing retirement plans and mutual funds. But it also spends roughly $2.5 billion per year in technologies like blockchain and artificial intelligence through Fidelity Labs and its Fidelity Center for Applied Technology. In October, it branched out with a new company, Fidelity Digital Asset Services, to offer custody service for cryptocurrencies. The new company implemented its first institutional client in December, according to the shareholder letter.


Company: cnbc, Activity: cnbc, Date: 2019-02-21  Authors: kate rooney, essdras m suarez, the boston globe, getty images
Keywords: news, cnbc, companies, profit, fidelity, notches, stock, billion, 2018, retail, fidelitys, record, asset, despite, performance, markets, johnson, million, revenue, funds, slowdown


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We’re about to find out why the Federal Reserve did its policy U-turn which sent markets higher

Investors will learn more Wednesday about why Federal Reserve officials did an apparent U-turn in policy three weeks ago when they signaled a much easier stance regarding interest rates. Minutes from the Jan. 29-30 meeting of the policymaking Federal Open Market Committee will be released at 2 p.m. At the meeting, the committee voted not to increase the benchmark interest rate, but signaled a “patient” approach to future hikes. While a minutes release might seem an otherwise mundane dig through


Investors will learn more Wednesday about why Federal Reserve officials did an apparent U-turn in policy three weeks ago when they signaled a much easier stance regarding interest rates. Minutes from the Jan. 29-30 meeting of the policymaking Federal Open Market Committee will be released at 2 p.m. At the meeting, the committee voted not to increase the benchmark interest rate, but signaled a “patient” approach to future hikes. While a minutes release might seem an otherwise mundane dig through
We’re about to find out why the Federal Reserve did its policy U-turn which sent markets higher Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-20  Authors: jeff cox, saul loeb, afp, getty images
Keywords: news, cnbc, companies, sent, policy, interest, rate, markets, powell, signaled, meeting, uturn, monetary, federal, fed, reserve, world, communication, higher


We're about to find out why the Federal Reserve did its policy U-turn which sent markets higher

Investors will learn more Wednesday about why Federal Reserve officials did an apparent U-turn in policy three weeks ago when they signaled a much easier stance regarding interest rates.

Minutes from the Jan. 29-30 meeting of the policymaking Federal Open Market Committee will be released at 2 p.m. ET. At the meeting, the committee voted not to increase the benchmark interest rate, but signaled a “patient” approach to future hikes. Fed Chairman Jerome Powell said afterward that it would take a shift in data to convince him that more moves would be needed.

Market participants will be digging closely through the meeting summary for clues on how the Fed views its interest rate framework, the assessment on the economy, and the plans it has for the $3.8 trillion in bonds it is holding on its balance sheet.

While a minutes release might seem an otherwise mundane dig through monetary policy, the Powell Fed has put a special emphasis on communication. The chairman now will hold news conferences after each meeting to explain Fed actions to the public, and he has kept up a busy schedule meeting with lawmakers on Capitol Hill.

“More communication is better,” Bill English, a 20-year Fed veteran and current professor at the Yale School of Management, said in an interview. “Things can be misunderstood and communication can go badly, but the response to that should be more communication and trying to clarify, and not communicating less. The world of a generation ago when the Fed didn’t communicate much about monetary policy at all isn’t actually a very desirable world for doing monetary policy.”

Fed officials have been pretty clear lately about their intentions on interest rates. Less certain is what the central bank will do with the balance sheet.


Company: cnbc, Activity: cnbc, Date: 2019-02-20  Authors: jeff cox, saul loeb, afp, getty images
Keywords: news, cnbc, companies, sent, policy, interest, rate, markets, powell, signaled, meeting, uturn, monetary, federal, fed, reserve, world, communication, higher


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Investors need to come to terms with a ‘sloppy’ market: Jack Ablin

Investor Jack Ablin believes it’ll be a “sloppy” year for stocks, but he has a strategy to make money anyway: Embrace the pullbacks. We’ve gotten most of it already thanks to a pretty dour outlook among investors going into the new year.” Ablin doesn’t think there’s anything fundamentally wrong with the markets or economy. And right now, over the last six months, financials have underperformed. … That’s something I think investors aren’t banking on, and I don’t think they’ve calculated it into


Investor Jack Ablin believes it’ll be a “sloppy” year for stocks, but he has a strategy to make money anyway: Embrace the pullbacks. We’ve gotten most of it already thanks to a pretty dour outlook among investors going into the new year.” Ablin doesn’t think there’s anything fundamentally wrong with the markets or economy. And right now, over the last six months, financials have underperformed. … That’s something I think investors aren’t banking on, and I don’t think they’ve calculated it into
Investors need to come to terms with a ‘sloppy’ market: Jack Ablin Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-20  Authors: stephanie landsman, daniel acker, bloomberg, getty images, michael nagle, david a grogan
Keywords: news, cnbc, companies, market, come, stocks, investors, months, 2019, sloppy, financials, markets, ablin, think, money, terms, sp, need, jack


Investors need to come to terms with a 'sloppy' market: Jack Ablin

Investor Jack Ablin believes it’ll be a “sloppy” year for stocks, but he has a strategy to make money anyway: Embrace the pullbacks.

“Most of the 2019 rally has already occurred,” the Cresset Wealth Advisors chief investment officer said Tuesday on CNBC’s “Futures Now.” “We started the year expecting roughly a 9 or so percent return for 2019. We’ve gotten most of it already thanks to a pretty dour outlook among investors going into the new year.”

The S&P 500 is up 11 percent in 2019 and is about 6 percent short of its all-time high of 2,940 hit on Sept. 21.

Ablin doesn’t think there’s anything fundamentally wrong with the markets or economy. He’s basing a key portion of his forecast on the relationship between financials and the S&P 500.

“In general, the stock market likes it when financials do well. And right now, over the last six months, financials have underperformed. That would suggest that equities could struggle over the next six months,” he said. “The fact is that the financial markets and liquidity in general is really the lifeblood of the equity market.”

Ablin, whose firm has $3.5 billion in assets under management, doesn’t expect this year’s pullbacks to match 2018’s corrections. But he contends it’ll still be enough to make profits — as long as investors are buying on them.

On the next downturn, he plans to add positions to industrials, health care and, perhaps, energy. Ablin also likes homebuilders on softness because sentiment in the space is positive, but the stocks are still negative.

The big money question is what could spark the next buying opportunity. The answer is unclear.

“I think it’s more related to the trade policy,” Ablin said. “There could be tariffs especially with China that are persistent that actually never go away. … That’s something I think investors aren’t banking on, and I don’t think they’ve calculated it into the current pricing.”


Company: cnbc, Activity: cnbc, Date: 2019-02-20  Authors: stephanie landsman, daniel acker, bloomberg, getty images, michael nagle, david a grogan
Keywords: news, cnbc, companies, market, come, stocks, investors, months, 2019, sloppy, financials, markets, ablin, think, money, terms, sp, need, jack


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Any new US tariffs ‘catastrophic’ for stocks: China state media

A Chinese state-run newspaper claimed in an editorial published late Tuesday that the U.S. faces greater pressure to resolve its ongoing trade war with China because failed negotiations would likely have major consequences for stocks worldwide. The current deadline before increased tariffs kick in is March 1, and the Chinese delegation is in Washington, D.C. this week for trade negotiations. “[Trump’s] words further stoked the stock markets of the US, which reached the highest in two months and


A Chinese state-run newspaper claimed in an editorial published late Tuesday that the U.S. faces greater pressure to resolve its ongoing trade war with China because failed negotiations would likely have major consequences for stocks worldwide. The current deadline before increased tariffs kick in is March 1, and the Chinese delegation is in Washington, D.C. this week for trade negotiations. “[Trump’s] words further stoked the stock markets of the US, which reached the highest in two months and
Any new US tariffs ‘catastrophic’ for stocks: China state media Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-20  Authors: evelyn cheng
Keywords: news, cnbc, companies, catastrophic, trump, state, media, stock, chinese, markets, china, times, pressure, stocks, global, trade, tariffs


Any new US tariffs 'catastrophic' for stocks: China state media

A Chinese state-run newspaper claimed in an editorial published late Tuesday that the U.S. faces greater pressure to resolve its ongoing trade war with China because failed negotiations would likely have major consequences for stocks worldwide.

On Tuesday, the S&P 500 rose after U.S. President Donald Trump again indicated the world’s two largest economies might have more time to find a way to avoid raising tariffs. The current deadline before increased tariffs kick in is March 1, and the Chinese delegation is in Washington, D.C. this week for trade negotiations.

“[Trump’s] words further stoked the stock markets of the US, which reached the highest in two months and so increased pressure on the Trump administration to close the deal with China,” the Global Times said in the editorial.

Trump has frequently cited the U.S. stock market’s performance as a gauge of his success, although he has been quiet on the subject when shares are not performing well.

Citing unnamed analysts, the Global Times editorial added that if both sides can’t reach an agreement and the Trump team “imposes more tariffs on Chinese products while China responds with fiercer countermeasures,” then that would “be a catastrophic strike to global stock markets.”


Company: cnbc, Activity: cnbc, Date: 2019-02-20  Authors: evelyn cheng
Keywords: news, cnbc, companies, catastrophic, trump, state, media, stock, chinese, markets, china, times, pressure, stocks, global, trade, tariffs


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European markets close higher amid earnings, US-China trade hopes; Sainsbury shares dive 17%

Europe’s autos stocks — with their heavy exposure to China — led the gains, up more than 2.3 percent. Officials from the U.S. and China launched a new round of negotiations on Tuesday, with a follow-up session of higher-level talks expected later in the week. Stateside, stocks edged higher after the opening bell, as investors waited for news from the trade talks and clues on monetary policy. Meanwhile, Britain’s Sainsbury’s tumbled to the bottom of the index. Shares of Sainsbury’s tumbled around


Europe’s autos stocks — with their heavy exposure to China — led the gains, up more than 2.3 percent. Officials from the U.S. and China launched a new round of negotiations on Tuesday, with a follow-up session of higher-level talks expected later in the week. Stateside, stocks edged higher after the opening bell, as investors waited for news from the trade talks and clues on monetary policy. Meanwhile, Britain’s Sainsbury’s tumbled to the bottom of the index. Shares of Sainsbury’s tumbled around
European markets close higher amid earnings, US-China trade hopes; Sainsbury shares dive 17% Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-20  Authors: chloe taylor, sam meredith
Keywords: news, cnbc, companies, bank, expected, sainsbury, sainsburys, billion, dive, markets, tumbled, china, european, hopes, stocks, uschina, trade, talks, earnings, higher, shares


European markets close higher amid earnings, US-China trade hopes; Sainsbury shares dive 17%

The pan-European Stoxx 600 closed provisionally up around 0.7 percent on Wednesday, with most sectors and major bourses in positive territory.

Europe’s autos stocks — with their heavy exposure to China — led the gains, up more than 2.3 percent. Officials from the U.S. and China launched a new round of negotiations on Tuesday, with a follow-up session of higher-level talks expected later in the week. President Donald Trump said on Tuesday that he might extend the March 1 deadline for a deal, saying it was not a “magical date.”

Stateside, stocks edged higher after the opening bell, as investors waited for news from the trade talks and clues on monetary policy. The U.S. Federal Reserve’s Open Market Committee is expected to release minutes from its January meeting at 2 p.m. ET.

Back in Europe, Ireland’s Glanbia surged to the top of the European benchmark during morning trade. The nutrition company reported pre-tax profit rose 16 percent in 2018, adding it expected to deliver growth between 5 percent and 8 percent in 2019. Shares of the group jumped 11.8 percent on the news.

Meanwhile, Britain’s Sainsbury’s tumbled to the bottom of the index. It comes after the U.K.’s competition regulator said on Wednesday that the supermarket’s planned $9.5 billion takeover of Walmart-owned Asda should either be blocked or would require the sale of a significant number of stores. Shares of Sainsbury’s tumbled around 17 percent on the news.

Shares of the Swiss bank UBS fell more than 3 percent after a French court found it guilty of illegally soliciting clients in France and laundering the proceeds of tax evasion. The bank was fined 4.5 billion euros ($5.1 billion).


Company: cnbc, Activity: cnbc, Date: 2019-02-20  Authors: chloe taylor, sam meredith
Keywords: news, cnbc, companies, bank, expected, sainsbury, sainsburys, billion, dive, markets, tumbled, china, european, hopes, stocks, uschina, trade, talks, earnings, higher, shares


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China ETFs rally can continue, experts say

China ETFs rally can continue, experts say2 Hours AgoMark Newton of Newton Advisors and Stacey Gilbert of Susquehanna discuss what’s happening in Chinese markets with CNBC’s Kelly Evans.


China ETFs rally can continue, experts say2 Hours AgoMark Newton of Newton Advisors and Stacey Gilbert of Susquehanna discuss what’s happening in Chinese markets with CNBC’s Kelly Evans.
China ETFs rally can continue, experts say Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-20
Keywords: news, cnbc, companies, whats, continue, stacey, rally, happening, newton, kelly, say2, etfs, china, markets, hours, say, susquehanna, experts


China ETFs rally can continue, experts say

China ETFs rally can continue, experts say

2 Hours Ago

Mark Newton of Newton Advisors and Stacey Gilbert of Susquehanna discuss what’s happening in Chinese markets with CNBC’s Kelly Evans.


Company: cnbc, Activity: cnbc, Date: 2019-02-20
Keywords: news, cnbc, companies, whats, continue, stacey, rally, happening, newton, kelly, say2, etfs, china, markets, hours, say, susquehanna, experts


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