Bank of Canada Governor Stephen Poloz to step down when term ends next year

Carolyn Wilkins, senior deputy governor of the Bank of Canada, left, and Stephen Poloz, governor of the Bank of Canada, leave the Bank of Canada building for a press conference in Ottawa, Ontario, Canada, on Wednesday, Oct. 24, 2018. Bank of Canada Governor Stephen Poloz will step down when his mandate expires in June, the bank said on Friday, and the front-runner in the race to take his place could become the first woman to head the country’s central bank. Many economists and market strategists


Carolyn Wilkins, senior deputy governor of the Bank of Canada, left, and Stephen Poloz, governor of the Bank of Canada, leave the Bank of Canada building for a press conference in Ottawa, Ontario, Canada, on Wednesday, Oct. 24, 2018.
Bank of Canada Governor Stephen Poloz will step down when his mandate expires in June, the bank said on Friday, and the front-runner in the race to take his place could become the first woman to head the country’s central bank.
Many economists and market strategists
Bank of Canada Governor Stephen Poloz to step down when term ends next year Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-06
Keywords: news, cnbc, companies, ends, canada, term, bank, global, poloz, head, senior, markets, stephen, governor, process, step, deputy


Bank of Canada Governor Stephen Poloz to step down when term ends next year

Carolyn Wilkins, senior deputy governor of the Bank of Canada, left, and Stephen Poloz, governor of the Bank of Canada, leave the Bank of Canada building for a press conference in Ottawa, Ontario, Canada, on Wednesday, Oct. 24, 2018.

Bank of Canada Governor Stephen Poloz will step down when his mandate expires in June, the bank said on Friday, and the front-runner in the race to take his place could become the first woman to head the country’s central bank.

Many economists and market strategists surveyed by Reuters this week said Senior Deputy Governor Carolyn Wilkins, who has regularly appeared alongside Poloz at press conferences and government hearings, could be his successor.

Poloz, 64, who is in the final year of a seven-year term, will not seek a reappointment and a process to select the next governor has begun, the bank’s board of directors said in a statement.

The board of directors oversees the selection process of a new governor, but the finance minister and the prime minister have the final say.

Other potential candidates include Tiff Macklem, a former senior deputy governor and now dean of a top Canadian business school, and Jean Boivin, a past deputy governor and current head of BlackRock Investment Institute.

Poloz, who brought a combination of folksiness and traditional ambiguity to the job, said that during his tenure the bank had “created the conditions for steady economic growth, low unemployment, and inflation close to target through very challenging times,” according to the statement.

On his watch, Canadas commodity-linked economy weathered a sharp downturn in oil prices in 2014, the softening of a red-hot housing market and a more uncertain outlook for global trade.

“He managed the whole process very well,” said Hosen Marjaee, a senior portfolio manager at Manulife Asset Management, in an interview.

Poloz brought “a unique perspective on markets and economies” and his response to the changing trade environment and the impact of the U.S economy on Canada “has been flexible and pragmatic,” said Marjaee.

The Bank of Canada has held its overnight interest rate steady since October 2018, even as several of its counterparts, including the U.S. Federal Reserve, have eased.

“There’s change going into 2020, the markets could easily start to speculate that perhaps somebody more willing to ease could come into the seat,” said Derek Halpenny, head of research, global markets EMEA and international securities at MUFG Bank in London.

Unlike some of its global peers, Canada’s inflation rate is near the central bank’s 2% target, while the economy is operating near capacity.


Company: cnbc, Activity: cnbc, Date: 2019-12-06
Keywords: news, cnbc, companies, ends, canada, term, bank, global, poloz, head, senior, markets, stephen, governor, process, step, deputy


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What Trump does before trade deadline is the ‘wild card’ that will drive markets in the week ahead

Just in the past week, Trump said he would put new tariffs on Brazil, Argentina and France. He rattled markets when he said he could wait until after the election for a trade deal with China. If there’s no China deal, that could beat up stocks, send Treasury yields lower and send investors into other safe havens. Economic reports in the coming week include CPI inflation Wednesday, which could be an important input for the Fed. Fed aheadThe Fed has moved to the sidelines and says it is monitoring


Just in the past week, Trump said he would put new tariffs on Brazil, Argentina and France.
He rattled markets when he said he could wait until after the election for a trade deal with China.
If there’s no China deal, that could beat up stocks, send Treasury yields lower and send investors into other safe havens.
Economic reports in the coming week include CPI inflation Wednesday, which could be an important input for the Fed.
Fed aheadThe Fed has moved to the sidelines and says it is monitoring
What Trump does before trade deadline is the ‘wild card’ that will drive markets in the week ahead Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-06  Authors: patti domm
Keywords: news, cnbc, companies, trump, wild, markets, fed, deadline, tariffs, does, week, thats, deal, going, drive, trade, card, ahead, inflation, think, market, china


What Trump does before trade deadline is the 'wild card' that will drive markets in the week ahead

China’s President Xi Jinping (L) and US President Donald Trump attend a welcome ceremony at the Great Hall of the People in Beijing on November 9, 2017. AFP Contributor | AFP | Getty Images

The Trump administration’s Dec. 15 deadline for new tariffs on China looms large, and while most strategists expect them to be delayed while talks continue, they don’t rule out the unexpected. “That’s the biggest thing in the room next week. I don’t think he’s going to raise them. I think they’ll find a reason,” said James Pauslen, chief investment strategist at Leuthold Group. But Paulsen said President Donald Trump’s unpredictable nature makes it really impossible to tell what will happen as the deadline nears. “He’s the one off you’re never sure about. It’s not just tariffs. It could be damn near anything,” Paulsen said. “I think he goes out of his way to be a wild card.” Just in the past week, Trump said he would put new tariffs on Brazil, Argentina and France. He rattled markets when he said he could wait until after the election for a trade deal with China. Once dubbing himself “tariff man,” Trump reminded markets that he sees tariffs as a way of getting what he wants from an opponent, and traders were reminded tariffs may be around for a long time. Trade certainly could be the most important event for markets in the week ahead, which also includes a Fed interest rate decision Wednesday and the U.K.’s election that could set the course for Brexit. If there’s no China deal, that could beat up stocks, send Treasury yields lower and send investors into other safe havens. When Fed officials meet this week, they are not expected to change interest rates, but they are likely to discuss whether they believe their repo operations to drive liquidity in the short-term funding market are running smoothly, ahead of year end. Economic reports in the coming week include CPI inflation Wednesday, which could be an important input for the Fed.

Punt, but no deal

As of Friday, the White House did not appear any closer to striking a deal with China, though officials say talks are going fine. Back in August, Trump said if there is no deal, Dec. 15 is the date for a new wave of tariffs on $156 billion in Chinese goods, including cell phones, toys and lap top computers. Dan Clifton, head of policy research at Strategas, said it seems like a low probability there will be a deal in the coming week. “What the market is focused on right now is whether there’s going to be tariffs that to into effect on Dec. 15, or not. It’s being rated pretty binary,” said Clifton. “I think what’s happening here and the actions by China overnight looks like we’re setting up for a kick.” China removed some tariffs from U.S. agricultural products Friday, and administration officials have been talking about discussions going fine. Clifton said if tariffs are put on hold, it’s unclear for how long. “Those are going to be larger questions that have to be answered. This is really now about politics. Is it a better idea for the president to cut a deal without major structural reforms, or should he walk away? That’s the larger debate that has to happen after Dec. 15,” Clifton said. “I’m getting worried that some in the administration… they’re leaning toward no deal category.” Clifton said Trump’s approval rating falls when the trade wars heat up, so that may motivate him to complete the deal with China even if he doesn’t get everything he wants. Michael Schumacher, director of rates strategy at Wells Fargo, said his base case is for a trade deal to be signed in the next couple of months, but even so, he said he can’t entirely rule out another outcome. It would make sense for tariffs to be put on hold while talks continue. “The tweeter-in-chief controls that one, ” said Schumacher. “That’s anybody’s guess…I wouldn’t be at all surprised if he suspends it for a few weeks. If he doesn’t, that’s a pretty unpleasant result. That’s risk off. That’s pretty clear.” Because the next group of tariffs would be on consumer goods, economists fear they could hit the economy through the consumer, the strongest and largest engine behind economic growth.

Fed ahead

The Fed has moved to the sidelines and says it is monitoring economic data before deciding its next move. Friday’s strong November jobs report, with 266,000 jobs added, reinforces the Fed’s decision to move to neutral for now. So the most important headlines from its meeting this week could be about the repo market, basically the plumbing for the financial system where financial institutions fund themselves. Interest rates in that somewhat obscure market spiked in September. Market pros said the issue was a cash crunch in the short term lending market, made better when the Fed started repo operations. The Fed now has multiple operations running over year end, and Schumacher said it has latitude to do more. Strategists expect there to be more pressure on the repo market as banks rein in operations to spruce up their balance sheets at year end. “No one is going to come to the Fed and say you did too much in the year-end funding,” said Schumacher. “If repo happens to spike somewhat on one day, the Fed is going to hammer it the next day.” Paulsen said the markets will be attuned to this week’s inflation numbers. Consumer inflation, the CPI is reported on Wednesday and producer prices are Thursday. A pickup in inflation of any significance is one thing that could pull the Fed from the sidelines, and prod it to consider a rate hike. “I think the inflation reports might start to get a little attention. Given the jobs numbers, the employment rate, growth picking up a little bit and a better tone in manufacturing. I do think if you get some hot CPI number, I don’t know if the Fed can ignore it,” he said. “Core CPI is 2.3%.” He said it would get noticed if it jumped to 2.5% or better. The Fed’s inflation target is 2% but its preferred measure is the PCE inflation, and that remains under 2%. Stocks were sharply higher Friday but ended the past week flattish. The S&P 500 was slightly higher, up 0.2% at 3,145, and the Dow was down 0.1% at 28,015. The Nasdaq was 0.1% lower, ending the week at 8,656.

Week ahead calendar


Company: cnbc, Activity: cnbc, Date: 2019-12-06  Authors: patti domm
Keywords: news, cnbc, companies, trump, wild, markets, fed, deadline, tariffs, does, week, thats, deal, going, drive, trade, card, ahead, inflation, think, market, china


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Trade update, Toll Brothers earnings, impeachment watch: 3 things to watch for in the markets on Monday

Diego Perez works on a Toll Brothers home on August 21, 2018 in Boca Raton, Florida. President Donald Trump said on Thursday that trade talks with Beijing were going “very well.” Toll Brothers earningsWe’ll get a read on the housing market on Monday when home building company Toll Brothers reports fiscal fourth quarter earnings. Susquehanna Financial Group is expecting Toll Brothers to report earnings of $1.35 per share, compared to the $2.08 per share reported in the fourth quarter of 2018. Sha


Diego Perez works on a Toll Brothers home on August 21, 2018 in Boca Raton, Florida.
President Donald Trump said on Thursday that trade talks with Beijing were going “very well.”
Toll Brothers earningsWe’ll get a read on the housing market on Monday when home building company Toll Brothers reports fiscal fourth quarter earnings.
Susquehanna Financial Group is expecting Toll Brothers to report earnings of $1.35 per share, compared to the $2.08 per share reported in the fourth quarter of 2018.
Sha
Trade update, Toll Brothers earnings, impeachment watch: 3 things to watch for in the markets on Monday Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-06  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, brothers, reported, markets, toll, impeachment, share, watch, update, susquehanna, fourth, things, earnings, trade, talks, quarter


Trade update, Toll Brothers earnings, impeachment watch: 3 things to watch for in the markets on Monday

Diego Perez works on a Toll Brothers home on August 21, 2018 in Boca Raton, Florida. Joe Raedle | Getty Images

Here are the most important things to know about Monday before you hit the door.

1. Trade update

Investors will be looking for clarity on the U.S.-China trade war on Monday after a volatile week of trade headlines. The world’s two largest economies are in talks to finalize a so-called phase one trade deal as 15% tariffs on billions of dollars in Chinese imports are set to kick in Dec. 15. Director of the White House National Economic Council Larry Kudlow said Friday the U.S. and China are “close” to a trade deal but that the administration was prepared to walk away if it did not get the terms it wanted. President Donald Trump said on Thursday that trade talks with Beijing were going “very well.” However, the Wall Street Journal reported Thursday the two countries still haven’t reached a consensus on the amount of agriculture goods that China will purchase.

2. Toll Brothers earnings

We’ll get a read on the housing market on Monday when home building company Toll Brothers reports fiscal fourth quarter earnings. U.S. homebuilding rebounded in October and permits for future home construction jumped to a more than 12-year high. Susquehanna Financial Group is expecting Toll Brothers to report earnings of $1.35 per share, compared to the $2.08 per share reported in the fourth quarter of 2018. Susquehanna lowered its 2020 full year earnings estimate to $4.09 from $4.25 ahead of earnings. “Our downward estimate revisions in this preview continue to reflect our concern over the outlook for gross margin for the company in the coming fiscal year,” said Susquehanna analyst Jack Micenko in a note to clients on Friday. Shares of Toll Brothers have risen more than 11% in the last three months.

3. Impeachment hearing


Company: cnbc, Activity: cnbc, Date: 2019-12-06  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, brothers, reported, markets, toll, impeachment, share, watch, update, susquehanna, fourth, things, earnings, trade, talks, quarter


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European markets higher ahead of data and OPEC meeting; Moncler up 11%

The pan-European Stoxx 600 was 0.3% higher with most sectors trading in the black. Household goods was among the top-performing sectors on reports that Kering is considering buying the Italian brand Moncler. Overall, investors are closely monitoring trade talks between China and the U.S. amid mixed signals about their progress. However, President Donald Trump has said that he could decide to delay a trade deal with China until after the 2020 Presidential election. The statement comes after two-d


The pan-European Stoxx 600 was 0.3% higher with most sectors trading in the black.
Household goods was among the top-performing sectors on reports that Kering is considering buying the Italian brand Moncler.
Overall, investors are closely monitoring trade talks between China and the U.S. amid mixed signals about their progress.
However, President Donald Trump has said that he could decide to delay a trade deal with China until after the 2020 Presidential election.
The statement comes after two-d
European markets higher ahead of data and OPEC meeting; Moncler up 11% Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-05  Authors: silvia amaro
Keywords: news, cnbc, companies, sectors, trade, moncler, data, opec, statement, china, deal, twodays, trump, higher, meeting, talks, transatlantic, ahead, markets, european


European markets higher ahead of data and OPEC meeting; Moncler up 11%

The pan-European Stoxx 600 was 0.3% higher with most sectors trading in the black. Household goods was among the top-performing sectors on reports that Kering is considering buying the Italian brand Moncler. Shares of the latter rose 11% in early deals.

Overall, investors are closely monitoring trade talks between China and the U.S. amid mixed signals about their progress. According to a Bloomberg report, citing people familiar with the talks, the two economies are moving closer on their first-phase deal. However, President Donald Trump has said that he could decide to delay a trade deal with China until after the 2020 Presidential election.

Elsewhere, a joint statement by NATO leaders on Wednesday said that the transatlantic alliance will stand together against threats from Russia and China. The statement comes after two-days of intense meetings in the U.K., where members clashed over the organization’s role.


Company: cnbc, Activity: cnbc, Date: 2019-12-05  Authors: silvia amaro
Keywords: news, cnbc, companies, sectors, trade, moncler, data, opec, statement, china, deal, twodays, trump, higher, meeting, talks, transatlantic, ahead, markets, european


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European markets open slightly higher as investors await economic data

Market focus is largely attuned global trade developments after President Donald Trump said a limited trade agreement with China might have to wait until after the 2020 presidential election. Speaking to reporters in London on Tuesday, Trump said he had “no deadline” for striking a deal with Beijing. It had previously been expected the world’s two largest economies could sign a so-called “phase one” trade deal before the end of 2019. On the data front, Italy will publish composite PMI (Purchasin


Market focus is largely attuned global trade developments after President Donald Trump said a limited trade agreement with China might have to wait until after the 2020 presidential election.
Speaking to reporters in London on Tuesday, Trump said he had “no deadline” for striking a deal with Beijing.
It had previously been expected the world’s two largest economies could sign a so-called “phase one” trade deal before the end of 2019.
On the data front, Italy will publish composite PMI (Purchasin
European markets open slightly higher as investors await economic data Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-04  Authors: sam meredith
Keywords: news, cnbc, companies, president, pmi, slightly, economic, higher, data, investors, await, markets, markit, trump, deal, european, london, trade, open, services


European markets open slightly higher as investors await economic data

The pan-European Stoxx 600 was up around 0.1% during early morning deals, with most sectors and major bourses in positive territory.

Market focus is largely attuned global trade developments after President Donald Trump said a limited trade agreement with China might have to wait until after the 2020 presidential election.

Speaking to reporters in London on Tuesday, Trump said he had “no deadline” for striking a deal with Beijing. It had previously been expected the world’s two largest economies could sign a so-called “phase one” trade deal before the end of 2019.

Earlier in the week, Trump threatened to slap duties against French goods and imposed tariffs on Argentina and Brazil imports. It appears to have dampened market sentiment at a time when many had hoped the U.S. and China might be able to de-escalate an ongoing trade war.

On the data front, Italy will publish composite PMI (Purchasing Managers’ Index) figures for November shortly after the opening bell.

France and Germany will both release Markit services PMI data for November slightly later in the session, while a final reading of euro zone Markit services PMI data for November will be released at around 9 a.m. London time.

In the U.K., several world leaders have gathered in London to mark the 70th anniversary of NATO.

The U.S. president is scheduled to hold a bilateral meeting with German Chancellor Angela Merkel, before holding a working lunch with representatives from the U.K., Greece and some central and eastern European countries.


Company: cnbc, Activity: cnbc, Date: 2019-12-04  Authors: sam meredith
Keywords: news, cnbc, companies, president, pmi, slightly, economic, higher, data, investors, await, markets, markit, trump, deal, european, london, trade, open, services


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Bull markets often end with a euphoric rally called a ‘blow-off top.’ We may have just had one

The stock market’s poor start to December halted in its tracks the kind of euphoric rally that has marked the end of past bull markets, a so-called blow-off top. According to Ned Davis Research, the Dow has posted a median gain of 13.4% during blow-off tops dating to 1901. “Given the high valuations I see, plus these divergences between many different indices, I am aware that many bull markets have ended with a rally similar to what we have seen since August,” firm founder Ned Davis said in a no


The stock market’s poor start to December halted in its tracks the kind of euphoric rally that has marked the end of past bull markets, a so-called blow-off top.
According to Ned Davis Research, the Dow has posted a median gain of 13.4% during blow-off tops dating to 1901.
“Given the high valuations I see, plus these divergences between many different indices, I am aware that many bull markets have ended with a rally similar to what we have seen since August,” firm founder Ned Davis said in a no
Bull markets often end with a euphoric rally called a ‘blow-off top.’ We may have just had one Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-04  Authors: fred imbert
Keywords: news, cnbc, companies, trading, dow, china, called, markets, end, bull, blowoff, rally, market, trade, month, yardeni, euphoric


Bull markets often end with a euphoric rally called a 'blow-off top.' We may have just had one

The stock market’s poor start to December halted in its tracks the kind of euphoric rally that has marked the end of past bull markets, a so-called blow-off top.

Between mid-August and late November, the was up 10.5% in a 74-day sprint that seemed to be immune from negative headlines.

According to Ned Davis Research, the Dow has posted a median gain of 13.4% during blow-off tops dating to 1901. The median rally length was 61 days.

“Given the high valuations I see, plus these divergences between many different indices, I am aware that many bull markets have ended with a rally similar to what we have seen since August,” firm founder Ned Davis said in a note.

One rally similar to this one happened between Oct. 15, 1999, and Jan. 14, 2000, just before the dot-com bubble burst. The Dow rallied 17% over 64 trading days back then. Another one took place from Aug. 16, 2007, to Oct. 9, 2007, preceding the financial crisis. In that time, the Dow jumped 10.3% in just 38 trading days.

Stocks were on fire last month in large part because of easier monetary policy and expectations that China and the U.S. will strike a trade deal. The Federal Reserve cut rates twice since August and has signaled it will keep them at current levels for a while. Also, China and the U.S. have said they were closing in on a “phase one” trade agreement to be signed before year-end, although President Donald Trump suggested on Tuesday that an agreement may not come until after next November’s election.

However, the fast rise in stocks gave some experts pause. Ed Yardeni, president of Yardeni Research, told CNBC last month the market was going up in a “melt-up fashion,” noting: “That’s actually the risk.”

Christopher Harvey, head of equity strategy at Wells Fargo Securities, also said in November the key catalysts that were driving the market higher had “played out.”

“What we’re left with is near-term sentiment and near-term sentiment being the driver of prices,” he added. “That could be based on a tweet. It could be based on positioning.”

Stocks started off December on the wrong foot. The Dow dropped 548.6 points in the first two trading days of the month amid renewed worries around U.S.-China trade relations. Trump’s comment on Tuesday, coupled with negative trade rhetoric out of China, sent stocks tumbling.

To be sure, the market’s rocky start to the final month of 2019 could be just a byproduct of investors taking some profits after a big run. Even after the Dow’s declines, the 30-stock average remains up nearly 20% for the year and within striking distance of its all-time high. Most Wall Street strategists expect the bull market to continue next year.

“A pause after a two-month rally shouldn’t be surprising,” said Willie Delwiche, investment strategist at Baird. “And it shouldn’t preclude from strength over the latter half of December, which is when we tend to see seasonal strength for the month.”

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Company: cnbc, Activity: cnbc, Date: 2019-12-04  Authors: fred imbert
Keywords: news, cnbc, companies, trading, dow, china, called, markets, end, bull, blowoff, rally, market, trade, month, yardeni, euphoric


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Beware these two FANG stocks as markets bounce back, traders warn

The FANG stocks — Facebook, Amazon, Netflix and Google parent Alphabet — are making a comeback as the broader markets bounce after three days of losses. “The one that I’m cautious of is Netflix,” Todd Gordon, founder of TradingAnalysis.com, told CNBC’s “Trading Nation” on Tuesday. … The XLC is underperforming the Nasdaq so you have Netflix underperforming the XLC.” Boris Schlossberg, managing director of FX strategy at BK Asset Management, said a different FANG stock — Facebook — has a high risk


The FANG stocks — Facebook, Amazon, Netflix and Google parent Alphabet — are making a comeback as the broader markets bounce after three days of losses.
“The one that I’m cautious of is Netflix,” Todd Gordon, founder of TradingAnalysis.com, told CNBC’s “Trading Nation” on Tuesday.
… The XLC is underperforming the Nasdaq so you have Netflix underperforming the XLC.”
Boris Schlossberg, managing director of FX strategy at BK Asset Management, said a different FANG stock — Facebook — has a high risk
Beware these two FANG stocks as markets bounce back, traders warn Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-04  Authors: keris lahiff
Keywords: news, cnbc, companies, netflix, facebook, going, warn, traders, stocks, markets, schlossberg, fang, falling, bounce, underperforming, parent, beware, xlc


Beware these two FANG stocks as markets bounce back, traders warn

The FANG stocks — Facebook, Amazon, Netflix and Google parent Alphabet — are making a comeback as the broader markets bounce after three days of losses.

Not all are safe bets, though, according to two traders.

“The one that I’m cautious of is Netflix,” Todd Gordon, founder of TradingAnalysis.com, told CNBC’s “Trading Nation” on Tuesday. “It has been underperforming its parent sector SPDR, the XLC. … The XLC is underperforming the Nasdaq so you have Netflix underperforming the XLC.”

Just in the past week, the XLC communications services ETF has fallen 1%, while Netflix has posted losses three times as steep.

“We have a little bit of consolidation here, and then the ratio shows the exact same thing so Netflix I’m concerned could be falling into a range around the $300 region as we head into next year,” said Gordon.

Netflix broke above $300 in mid-November. It is less than 2% from falling to that level again.

Boris Schlossberg, managing director of FX strategy at BK Asset Management, said a different FANG stock — Facebook — has a high risk factor.

“There was a story out of Australia where a whole bunch of people lost their life savings because they ran a bunch of ads that showed false celebrity endorsements of financial products,” Schlossberg said during the same segment. “This is a class-action lawyer’s dream, and I’m afraid that if you’re going to get any kind of issues like that going forward, they could have a very, very serious liability threat.”

Still, Schlossberg is not ready to go completely negative on Facebook, noting that its fundamentals including cash flow generation remain strong.

“It’s not a short, but it is a just sort of an out-of-the-money put buy, that’s what I would do with Facebook because I do think there’s an existential threat there,” he said.

Disclaimer


Company: cnbc, Activity: cnbc, Date: 2019-12-04  Authors: keris lahiff
Keywords: news, cnbc, companies, netflix, facebook, going, warn, traders, stocks, markets, schlossberg, fang, falling, bounce, underperforming, parent, beware, xlc


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Europe markets higher despite global trade tensions; French luxury stocks fall

European stocks were higher Tuesday morning despite an escalation of global trade tensions during the previous session. President Donald Trump announced tariffs on steel and aluminum imports from Brazil and Argentina on Monday — sparking further global trade tensions. In this context, basic resources stocks fell 0.8% in mid-morning deals – the sector is highly volatile to global trade and metal news. Chemicals and tech stocks were among the top-performing sectors. Prime Minister Boris Johnson is


European stocks were higher Tuesday morning despite an escalation of global trade tensions during the previous session.
President Donald Trump announced tariffs on steel and aluminum imports from Brazil and Argentina on Monday — sparking further global trade tensions.
In this context, basic resources stocks fell 0.8% in mid-morning deals – the sector is highly volatile to global trade and metal news.
Chemicals and tech stocks were among the top-performing sectors.
Prime Minister Boris Johnson is
Europe markets higher despite global trade tensions; French luxury stocks fall Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-03  Authors: silvia amaro
Keywords: news, cnbc, companies, volatile, trade, luxury, fall, global, president, french, tech, higher, europe, markets, midmorning, stocks, tensions


Europe markets higher despite global trade tensions; French luxury stocks fall

European stocks were higher Tuesday morning despite an escalation of global trade tensions during the previous session.

President Donald Trump announced tariffs on steel and aluminum imports from Brazil and Argentina on Monday — sparking further global trade tensions. In this context, basic resources stocks fell 0.8% in mid-morning deals – the sector is highly volatile to global trade and metal news.

The pan-European Stoxx 600 was up by 0.3%, with most sectors trading in the black. Chemicals and tech stocks were among the top-performing sectors.

Furthermore, the U.S. trade representative also said Monday that it could put duties of up to 100% on certain French products. This is on the back of France’s decision to apply a tax on digital companies. The U.S. trade office concluded that the French levy is harmful to U.S. tech companies.

French luxury stocks were down on the news. Kering, Hermes and LVMH dropped more than 1% in mid-morning deals.

Meanwhile, investors are monitoring several high-level meetings as NATO leaders gather in the U.K. to celebrate the 70th anniversary of the organization. Prime Minister Boris Johnson is receiving German Chancellor Angela Merkel, French President Emmanuel Macron and Turkish President Recep Tayyip Erdogan.


Company: cnbc, Activity: cnbc, Date: 2019-12-03  Authors: silvia amaro
Keywords: news, cnbc, companies, volatile, trade, luxury, fall, global, president, french, tech, higher, europe, markets, midmorning, stocks, tensions


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European Uber rival Bolt says it’s seeing signs of profitability in most markets

Estonian ride-hailing firm Bolt is starting to break even in a majority of the countries it operates in, its CEO has told CNBC. The company is now profitable — or close to being profitable — in two thirds of its markets, Markus Villig said in an interview Monday. By contrast, Uber — which was stripped of its license by the regulator last week — has about 3.5 million users and 45,000 drivers. Like Uber, Bolt remains unprofitable. But Villig said the company has managed to offer lower prices and t


Estonian ride-hailing firm Bolt is starting to break even in a majority of the countries it operates in, its CEO has told CNBC.
The company is now profitable — or close to being profitable — in two thirds of its markets, Markus Villig said in an interview Monday.
By contrast, Uber — which was stripped of its license by the regulator last week — has about 3.5 million users and 45,000 drivers.
Like Uber, Bolt remains unprofitable.
But Villig said the company has managed to offer lower prices and t
European Uber rival Bolt says it’s seeing signs of profitability in most markets Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-03  Authors: ryan browne
Keywords: news, cnbc, companies, company, villig, ridehailing, rival, seeing, license, profitable, signs, uber, bolt, drivers, london, million, european, markets, profitability


European Uber rival Bolt says it's seeing signs of profitability in most markets

Estonian ride-hailing firm Bolt is starting to break even in a majority of the countries it operates in, its CEO has told CNBC.

The company is now profitable — or close to being profitable — in two thirds of its markets, Markus Villig said in an interview Monday.

Founded in 2013 as Taxify and rebranded this year as Bolt, the start-up has racked up 25 million customers and 500,000 drivers in 35 countries across Europe and Africa.

It launched in London again in June following a botched attempt to do so without an operator’s license in 2017, and Villig says the firm has seen a lot of traction there with 1.5 million passengers and 30,000 drivers signed up to the platform.

By contrast, Uber — which was stripped of its license by the regulator last week — has about 3.5 million users and 45,000 drivers. The Silicon Valley giant, which first started operating in London in 2012, has said it intends to appeal the ban.

Like Uber, Bolt remains unprofitable. The group lost 61 million euros ($67 million) on revenues of about 80 million euros last year. But Villig said the company has managed to offer lower prices and takes less commission from drivers than Uber does as it’s the “most cost efficient ride-hailing company in the world.”


Company: cnbc, Activity: cnbc, Date: 2019-12-03  Authors: ryan browne
Keywords: news, cnbc, companies, company, villig, ridehailing, rival, seeing, license, profitable, signs, uber, bolt, drivers, london, million, european, markets, profitability


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Markets point to a lower open as trade tensions weigh on Wall Street

Markets point to a lower open as trade tensions weigh on Wall Street1 Hour AgoU.S. stock index futures were negative on Tuesday after President Trump said a China trade deal may not happen until after the 2020 election. CNBC’s Rahel Solomon reports.


Markets point to a lower open as trade tensions weigh on Wall Street1 Hour AgoU.S. stock index futures were negative on Tuesday after President Trump said a China trade deal may not happen until after the 2020 election.
CNBC’s Rahel Solomon reports.
Markets point to a lower open as trade tensions weigh on Wall Street Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-03  Authors: michael nagle, bloomberg, getty images
Keywords: news, cnbc, companies, point, trump, street1, stock, markets, reports, weigh, open, tensions, rahel, solomon, trade, wall, street, lower


Markets point to a lower open as trade tensions weigh on Wall Street

Markets point to a lower open as trade tensions weigh on Wall Street

1 Hour Ago

U.S. stock index futures were negative on Tuesday after President Trump said a China trade deal may not happen until after the 2020 election. CNBC’s Rahel Solomon reports.


Company: cnbc, Activity: cnbc, Date: 2019-12-03  Authors: michael nagle, bloomberg, getty images
Keywords: news, cnbc, companies, point, trump, street1, stock, markets, reports, weigh, open, tensions, rahel, solomon, trade, wall, street, lower


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