Gold retreats from 2-week peak as investors lock in profits

Gold prices pulled back from a two-week high to trade lower on Thursday, as some investors took advantage of the last session’s gain to book profits. Spot gold was down 0.4% at $1,420.60 per ounce, as of 0736 GMT, after hitting its highest since July 3 at $1,428.40. U.S. gold futures edged 0.1% lower to $1,421.60 an ounce. Among other precious metals, silver was up 0.1% at $15.99 per ounce, after hitting its highest since Feb. 20 at $16.12. Platinum rose 0.6% to $848.11 an ounce and palladium ga


Gold prices pulled back from a two-week high to trade lower on Thursday, as some investors took advantage of the last session’s gain to book profits. Spot gold was down 0.4% at $1,420.60 per ounce, as of 0736 GMT, after hitting its highest since July 3 at $1,428.40. U.S. gold futures edged 0.1% lower to $1,421.60 an ounce. Among other precious metals, silver was up 0.1% at $15.99 per ounce, after hitting its highest since Feb. 20 at $16.12. Platinum rose 0.6% to $848.11 an ounce and palladium ga
Gold retreats from 2-week peak as investors lock in profits Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-18
Keywords: news, cnbc, companies, 01, profits, investors, ounce, lock, 2week, session, dollar, gold, trade, retreats, market, peak, rose, lower


Gold retreats from 2-week peak as investors lock in profits

Gold prices pulled back from a two-week high to trade lower on Thursday, as some investors took advantage of the last session’s gain to book profits.

Spot gold was down 0.4% at $1,420.60 per ounce, as of 0736 GMT, after hitting its highest since July 3 at $1,428.40. It rose nearly 1.5% in the previous session as the dollar slipped after weaker-than-expected U.S. housing data increased prospects for an interest rate cut by the Federal Reserve.

U.S. gold futures edged 0.1% lower to $1,421.60 an ounce.

“A slightly weaker dollar and a clear preference from investors over the last 24 hours drove safe-haven assets higher,” said Michael McCarthy, chief market strategist, CMC Markets.

“From gold’s point of view, it approached a key resistance level around $1,430, and having failed to push through it, it looks like short-term trading investors are taking advantage of gains.”

The dollar index was down 0.2% against a basket of major currencies on Thursday. It climbed to a one-week peak in the previous session on robust U.S. retail sales, but nudged lower as Treasury yields fell in the wake of weak U.S. housing market data and concerns about the unresolved U.S.-China trade conflict.

Meanwhile, the Fed is widely expected to lower interest rates by 25 basis points at its policy meeting at the end of the month, with some in the market even betting on a 50 basis point cut.

The Fed reported on Wednesday that the U.S. economy continued growing at a “modest” rate in recent weeks, with consumers continuing to spend and a “generally positive” outlook overall even in the face of disruptions caused by the U.S. trade policy.

Earlier in the week, U.S. President Donald Trump kept up the pressure on Beijing with a threat to put tariffs on another $325 billion of Chinese goods.

“Bullion is likely to see strong support after the Fed’s Beige Book emphasised policymakers’ concern on negative impact of trade uncertainty,” Edward Moya, a senior market analyst at OANDA, said in a note.

Indicative of sentiment, holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, rose 0.48% to 803.18 tonnes on Wednesday from 799.37 tonnes on Tuesday.

Among other precious metals, silver was up 0.1% at $15.99 per ounce, after hitting its highest since Feb. 20 at $16.12. The metal was on track for a fifth consecutive session of gains.

Platinum rose 0.6% to $848.11 an ounce and palladium gained 0.1% to $1,538.95.


Company: cnbc, Activity: cnbc, Date: 2019-07-18
Keywords: news, cnbc, companies, 01, profits, investors, ounce, lock, 2week, session, dollar, gold, trade, retreats, market, peak, rose, lower


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Here are the biggest analyst calls of the day: Chewy, 3M, Square & more

J.P. Morgan downgraded Marriott on valuation amongst other things. “We move MAR to Neutral, from Overweight, as recent share outperformance, peak valuation, an extended cycle and decelerating industry trends all point to diminished upside from here. We want to be clear that this isn’t a reflection on the quality of the business model (capital light, fee-based, with steady, solid returns driving high ROICs), or that of management, which is tops in the sector, in our view. MAR’s unit growth story


J.P. Morgan downgraded Marriott on valuation amongst other things. “We move MAR to Neutral, from Overweight, as recent share outperformance, peak valuation, an extended cycle and decelerating industry trends all point to diminished upside from here. We want to be clear that this isn’t a reflection on the quality of the business model (capital light, fee-based, with steady, solid returns driving high ROICs), or that of management, which is tops in the sector, in our view. MAR’s unit growth story
Here are the biggest analyst calls of the day: Chewy, 3M, Square & more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-09  Authors: michael bloom
Keywords: news, cnbc, companies, steady, unit, view, calls, thingswe, 3m, valuation, square, chewy, biggest, day, analyst, peak, upside, tops, solid, trends


Here are the biggest analyst calls of the day: Chewy, 3M, Square & more

J.P. Morgan downgraded Marriott on valuation amongst other things.

“We move MAR to Neutral, from Overweight, as recent share outperformance, peak valuation, an extended cycle and decelerating industry trends all point to diminished upside from here. We want to be clear that this isn’t a reflection on the quality of the business model (capital light, fee-based, with steady, solid returns driving high ROICs), or that of management, which is tops in the sector, in our view. MAR’s unit growth story remains intact for now but without a path for estimate revisions higher (RevPAR) and peak multiples, we believe risk-reward is more balanced here. “


Company: cnbc, Activity: cnbc, Date: 2019-07-09  Authors: michael bloom
Keywords: news, cnbc, companies, steady, unit, view, calls, thingswe, 3m, valuation, square, chewy, biggest, day, analyst, peak, upside, tops, solid, trends


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Gold rebounds to 2-week peak as US data boosts Fed rate cut hopes

Gold shook off headwinds from a stronger dollar to scale a near two-week peak on Thursday as data pointed to easing inflationary pressure in the United States, boosting expectations of a further interest rate cut by the Federal Reserve. Spot gold gained 0.6% to $1,287.80 per ounce, having hit a high of $1,288.87 earlier, its highest since May 17. Gold also shrugged off initial pressure from a stronger dollar, with the U.S. unit hovering within striking distance of a two-year high against a baske


Gold shook off headwinds from a stronger dollar to scale a near two-week peak on Thursday as data pointed to easing inflationary pressure in the United States, boosting expectations of a further interest rate cut by the Federal Reserve. Spot gold gained 0.6% to $1,287.80 per ounce, having hit a high of $1,288.87 earlier, its highest since May 17. Gold also shrugged off initial pressure from a stronger dollar, with the U.S. unit hovering within striking distance of a two-year high against a baske
Gold rebounds to 2-week peak as US data boosts Fed rate cut hopes Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-30
Keywords: news, cnbc, companies, near, rate, rebounds, stronger, data, dollar, 2week, boosts, previously, market, strategist, peak, cut, pressure, fed, hopes, gold, quarter


Gold rebounds to 2-week peak as US data boosts Fed rate cut hopes

Gold shook off headwinds from a stronger dollar to scale a near two-week peak on Thursday as data pointed to easing inflationary pressure in the United States, boosting expectations of a further interest rate cut by the Federal Reserve.

Spot gold gained 0.6% to $1,287.80 per ounce, having hit a high of $1,288.87 earlier, its highest since May 17.

The metal reversed course from earlier in the session, when it fell to its lowest level since May 23 at $1,274.44.

U.S. gold futures settled up $6.10 at $1,292.40.

While data showed strong growth in gross domestic product in the first quarter, a gauge of inflation tracked by the Federal Reserve increased at a 1.0% rate last quarter, instead of the previously reported 1.3% pace. Manufacturing, retail sales, housing and exports also dropped in April.

Fed policymakers are likely to shrug off the last quarter’s growth spurt and focus on the weak domestic demand and inflation when they meet next month.

“The core PCE came in weaker than expected and is helping gold on the margin since it reaffirms this market’s belief that the next move from the Fed is a cut, which tends to lower the opportunity cost for holding non-cash flow yielding assets like gold,” said Daniel Ghali, commodity strategist at TD Securities.

Gold also shrugged off initial pressure from a stronger dollar, with the U.S. unit hovering within striking distance of a two-year high against a basket of major currencies.

“Gold has held up a lot better than expected with the recent strength in the dollar and that’s a major feather in the cap of the gold market in the near term,” said John Caruso, senior market strategist at RJO Futures.

The dollar has been used as the preferred hedge against trade tensions, repeating a trend seen last year.

“Short-term resistances (for gold) to watch include $1,280, $1,285 and $1,293, levels which were previously support. We would only turn bullish again on gold should it rise back above that $1,300 hurdle and stay above it, or print a bullish reversal at lower levels first,” Fawad Razaqzada, market analyst with Forex.com, wrote in a note.

Meanwhile, holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, rose 0.5% to 740.86 tonnes on Wednesday.


Company: cnbc, Activity: cnbc, Date: 2019-05-30
Keywords: news, cnbc, companies, near, rate, rebounds, stronger, data, dollar, 2week, boosts, previously, market, strategist, peak, cut, pressure, fed, hopes, gold, quarter


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Soaring gasoline prices peak just in time for Memorial Day weekend

Heading into Memorial Day, the national average gasoline price is coming off the year’s high and sitting just above $2.80 per gallon. However, 38% of survey respondents — roughly the same as last year — said current gas prices will impact their travel decisions. Gas prices by location, source: GasBuddyThe regions likely to see the biggest declines are those with the highest gas prices: the West and East coasts and the Rockies. Rising gasoline prices have been especially painful in California and


Heading into Memorial Day, the national average gasoline price is coming off the year’s high and sitting just above $2.80 per gallon. However, 38% of survey respondents — roughly the same as last year — said current gas prices will impact their travel decisions. Gas prices by location, source: GasBuddyThe regions likely to see the biggest declines are those with the highest gas prices: the West and East coasts and the Rockies. Rising gasoline prices have been especially painful in California and
Soaring gasoline prices peak just in time for Memorial Day weekend Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-24  Authors: tom dichristopher, sens mike crapo, r-idaho, sheldon whitehouse, d-rhode island
Keywords: news, cnbc, companies, day, memorial, weekend, gasoline, price, national, refinery, start, soaring, gallon, prices, average, peak, gas, oil


Soaring gasoline prices peak just in time for Memorial Day weekend

The biggest U.S. gasoline price surge in years is running out of steam just in time for the start of the summer driving season.

Heading into Memorial Day, the national average gasoline price is coming off the year’s high and sitting just above $2.80 per gallon.

The national average climbed 67 cents a gallon between New Year’s Day and May 4, when pump prices peaked, according to price-tracking firm GasBuddy. That’s the second biggest rise on record for the start of a year, trailing only the 93 cents per gallon surge in 2011.

It’s a similar setup to last year’s holiday weekend. Gas prices surged at the start of the year, but didn’t climb high enough to keep many Americans off the road. Still, they’re well above levels in 2016 and 2017, when a depressed oil market gave motorists a big break at the pump.

“While the rise in prices has been steep this spring, perhaps the most important factor is that in many places, gas prices are still well below their all-time highs and perhaps even more importantly, over 50% of the nation’s gas stations are selling at $2.99 per gallon or less,” Patrick DeHaan, head of petroleum analysis GasBuddy, said in a press release.

Nearly 75% of Americans plan to take a road trip this summer, marking an increase from last year, according to a survey by GasBuddy. However, 38% of survey respondents — roughly the same as last year — said current gas prices will impact their travel decisions.

The cost of gasoline shot up this year as oil prices rallied roughly 40% through last month, bolstered by tighter supply and better-than-expected demand. Oil accounts for 50% to 60% of the price at the pump.

Drivers also found themselves paying more due to disruptions at the nation’s refineries, where crude oil is processed into gasoline, diesel and other products.

“Part of the run-up was due to the very high prices on the West Coast due to an extraordinary number of refinery outages,” said Andrew Lipow, president of Lipow Oil Associates. “As those refiners have come back into service, we’ve seen prices dropping.”

Oil prices have plunged nearly 8% this week as the ongoing U.S.-China trade war raises concerns about economic growth and demand for fuel. But with Middle East tensions still simmering and threatening to push up crude costs, the national average gasoline price is likely to stay stuck near $2.80 per gallon, Lipow says.

DeHaan expects gas price relief to continue at least through the first week of June, with the national average settling in a summertime range between $2.65 and $2.90 a gallon.

Gas prices by location, source: GasBuddy

The regions likely to see the biggest declines are those with the highest gas prices: the West and East coasts and the Rockies.

Rising gasoline prices have been especially painful in California and other Western states. Refinery outages have helped push pump prices above $4 a gallon in California and above $3 a gallon in other states in the region.

“I think we end up cheaper as a nation, but that’s not much consolation for people in California that are going to be paying considerably more,” said Tom Kloza, global head of energy analysis at Oil Price Information Service.

U.S. stockpiles of gasoline are at the lowest levels for this time of year since 2015, but analysts say there’s enough fuel in storage to keep the country well supplied through the summer.

Barring a string of refinery outages or significantly higher oil prices, the onset of hurricane season is the next major threat to U.S. gasoline prices. The annual storm season poses risks to the U.S. refinery hub on the Gulf Coast in particular.

On Thursday, the National Oceanic and Atmospheric Association predicted a near-normal Atlantic hurricane season this year. NOAA forecasts there will be nine to 15 named storms during the June to November period, with four to eight hurricanes and two to four major hurricanes.


Company: cnbc, Activity: cnbc, Date: 2019-05-24  Authors: tom dichristopher, sens mike crapo, r-idaho, sheldon whitehouse, d-rhode island
Keywords: news, cnbc, companies, day, memorial, weekend, gasoline, price, national, refinery, start, soaring, gallon, prices, average, peak, gas, oil


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Gold slips from 1-month peak on Sino-US trade talk hopes

Gold bars at the Austrian Gold and Silver Separating Plant in Vienna, Austria. Gold prices steadied on Wednesday, having retreated from a one-month peak hit in the previous session as optimism surrounding trade talks between Washington and Beijing soothed investor concerns, boosting global stocks and the dollar. Simultaneously, Asian stocks also turned cautiously optimistic surrounding trade developments between the two countries on Wednesday, while still not completely discounting the possibili


Gold bars at the Austrian Gold and Silver Separating Plant in Vienna, Austria. Gold prices steadied on Wednesday, having retreated from a one-month peak hit in the previous session as optimism surrounding trade talks between Washington and Beijing soothed investor concerns, boosting global stocks and the dollar. Simultaneously, Asian stocks also turned cautiously optimistic surrounding trade developments between the two countries on Wednesday, while still not completely discounting the possibili
Gold slips from 1-month peak on Sino-US trade talk hopes Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-15
Keywords: news, cnbc, companies, remain, fung, ounce, dollar, prices, surrounding, trade, tariffs, sinous, gold, slips, 1month, talk, talks, peak, hopes


Gold slips from 1-month peak on Sino-US trade talk hopes

Gold bars at the Austrian Gold and Silver Separating Plant in Vienna, Austria.

Gold prices steadied on Wednesday, having retreated from a one-month peak hit in the previous session as optimism surrounding trade talks between Washington and Beijing soothed investor concerns, boosting global stocks and the dollar.

Spot gold was steady at $1,296.49 an ounce by 0808 GMT.

U.S. gold futures edged 0.1% higher to $1,297.20 an ounce.

“Gold is restrained as people are still interested in the dollar. The $1,300 level also looks like a good resistance,” said Peter Fung, head of dealing at Wing Fung Precious Metals in Hong Kong.

The dollar held firm in early Asian trading, having been supported on Tuesday by U.S. President Donald Trump downplaying the recent escalation in his trade war with China as “a little squabble” and insisting that talks between the two countries had not collapsed.

A stronger dollar makes gold more expensive for holders of non-U.S. currency.

Simultaneously, Asian stocks also turned cautiously optimistic surrounding trade developments between the two countries on Wednesday, while still not completely discounting the possibilities of a protracted spat.

“The (gold) market is holding because some people bought gold especially after the Chinese government also raised tariffs on U.S. goods,” Fung said, adding that the metal is expected to remain range-bound between $1,280 and $1,310 an ounce.

The biggest trigger for gold, which had been mostly range-bound for the past week, came on Monday after China announced that it would impose retaliatory tariffs on a range of U.S. goods.

There was some profit-taking in the previous session after prices jumped about $20 on Monday and above the key $1,300 level, analysts and traders said.

“The ongoing Sino-U.S. trade dispute has illustrated cooling conditions as both parties expressed willingness to resolve existing trade differences,” Phillip Futures analysts wrote in a note.

“Gold prices though easing up on bullish gains will remain supported as investors remain cautious on lingering U.S.-China trade worries in the near term.”

Market participants now keenly eye economic data from Europe that will provide further cues on the strength of the global economy.

Among other precious metals, silver rose 0.2% to $14.81 an ounce, while platinum fell 0.2% to $853.75.

Palladium fell 0.7% to $1,326.25 an ounce.


Company: cnbc, Activity: cnbc, Date: 2019-05-15
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China’s population could peak in 2023, here’s why that matters

China’s population is likely to peak in 2023, according to a study by online database company Global Demographics and analytics firm Complete Intelligence. “People had expected peak population in China to be a decade away, when in fact, it’s not,” he said. The study predicts that 13.3 million babies will be born in 2023, down from 15.2 million last year. The impact of China’s peak populationChina’s impending population decline is likely to negatively affect certain businesses, the report said. A


China’s population is likely to peak in 2023, according to a study by online database company Global Demographics and analytics firm Complete Intelligence. “People had expected peak population in China to be a decade away, when in fact, it’s not,” he said. The study predicts that 13.3 million babies will be born in 2023, down from 15.2 million last year. The impact of China’s peak populationChina’s impending population decline is likely to negatively affect certain businesses, the report said. A
China’s population could peak in 2023, here’s why that matters Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-03  Authors: abigail ng
Keywords: news, cnbc, companies, peak, market, million, china, births, population, nash, heres, number, women, chinas, 2023, report, matters


China's population could peak in 2023, here's why that matters

A boy tries to catch soap bubbles on the promenade of the Bund along the Huangpu River during a May Day holiday in Shanghai on May 1, 2019.

The world’s largest country by population could hit a ceiling six years earlier than expected, a new report predicts. China’s population is likely to peak in 2023, according to a study by online database company Global Demographics and analytics firm Complete Intelligence. The Chinese government had previously estimated that the country would hit its maximum population size in 2029. “What we see is the rate of growth slowing pretty, pretty quickly,” said Tony Nash, chief executive and founder of Complete Intelligence. “People had expected peak population in China to be a decade away, when in fact, it’s not,” he said. “It’s right around the corner.” The decline in births is driven by a “maternity cliff,” according to the report. The number of women of childbearing age in China — defined as aged 15 to 49 by the publishers — is set to fall from 346 million in 2018 to 318 million in 2023. With fewer women of childbearing age and fewer births per 1,000 women, the total number of newborns will drop as well. The study predicts that 13.3 million babies will be born in 2023, down from 15.2 million last year. China started easing its one-child policy in late 2013, and while those changes initially produced a boost in births, the effect may have worn off. That is, authors of the report wrote that Chinese mothers are no longer delivering on “pent up demand” for children since the policy was lifted to counter aging problems in the country.

The number of births per 1,000 women rose sharply from 45.6 in 2015 to 49.9 in 2016, the year where all Chinese couples were allowed to have two children. In 2018, the figure dropped drastically to 43.9. Total births fell 12 percent from 2017 to 2018. “China has stabilized its total population successfully,” Clint Laurent, founder of Global Demographics said in a press release. “But delaying relaxation of the One Child Policy means it is now short of childbearing women.” Complete Intelligence’s Nash told CNBC’s Street Signs: “The real issue … is that every woman who will have a child before 2035 is already alive.” “There’s really nothing that the Chinese government can do to force more babies,” he added. That is, unless each woman has “profoundly” more children, but that is “unlikely” as China gets wealthier, Nash noted.

The impact of China’s peak population

China’s impending population decline is likely to negatively affect certain businesses, the report said. In particular, industries that geared up to meet growing demand from the “false dawn” in the last five years could suffer. “The infant and child products will be the first hit,” Nash said. Consumer goods companies will now play a “market share game,” instead of an overall market growth one, Nash said. “It gets much, much more competitive from here on out.” Unlike the U.S., where there is a large millennial market to serve, China has a large baby boomer cohort, but it’s “hollow” afterward, said Nash. “That size of the market really continues to decline.” The China Maternity Cliff report predicts a “significant” impact on businesses that are part of the preschool market, such as toys and daycare. Both private and public schools may also need to adjust to the falling number of students in the years to come. Even further into the future, consumption could fall as dependency ratios increase in the country, said Nash. The dependency ratio refers to the number of dependents compared to the working population. “That dependency ratio only deteriorates from 2023 onward,” said Nash. “How much income do people have to spend, how much can they really put into the economy when, let’s say, somebody is caring for their parents and their children? ” He also said the country, together with the rest of North Asia, will need to take a “serious look” at automation in order to “keep their edge.” After 2023, Northeast Asian countries — Korea, Japan, Taiwan and China — will all have peaked in population, according to the projections. “If that part of the world is going to continue to manufacture (around 35%) of global goods, they’re going to have to take a serious look at automation,” he said. With no young, new entrants to the workforce, it will be “much more difficult” for China to have an average cost per worker that’s “affordable and competitive globally,” he said. There could be a “serious migration” of low-level jobs to places such as Bangladesh and Vietnam as wages rise in China, the Complete Intelligence chief added. Aside from the concerns about businesses and the economy, Nash said one “big” concern is income disparity. “As populations are in decline, those income classes solidify, and … the economic mobility that people have declines,” he said. “So that’s a real risk.” —CNBC’s Yen Nee Lee and Reuters contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-05-03  Authors: abigail ng
Keywords: news, cnbc, companies, peak, market, million, china, births, population, nash, heres, number, women, chinas, 2023, report, matters


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Dollar index hovers at 23-month peak

Most major currencies held in tight ranges on light trading volume as Japan began its extended Golden Week holiday. “You have a lot of economic data later this week from around the world. An index that tracks the greenback against the euro, yen, sterling and three other currencies was down 0.16% at 97.85. The dollar index failed to move higher after data that showed U.S. consumer spending gaining 0.9% in March, marking its biggest monthly increase in more than 9-1/2 years. Since the Fed’s March


Most major currencies held in tight ranges on light trading volume as Japan began its extended Golden Week holiday. “You have a lot of economic data later this week from around the world. An index that tracks the greenback against the euro, yen, sterling and three other currencies was down 0.16% at 97.85. The dollar index failed to move higher after data that showed U.S. consumer spending gaining 0.9% in March, marking its biggest monthly increase in more than 9-1/2 years. Since the Fed’s March
Dollar index hovers at 23-month peak Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-29
Keywords: news, cnbc, companies, hovers, trading, data, 23month, dollar, peak, major, increase, economic, currencies, week, yen, index


Dollar index hovers at 23-month peak

The dollar was marginally lower against a basket of currencies on Monday, hovering near a 23-month high, as traders await more data to convince them whether to add to their bullish positions in the greenback.

Most major currencies held in tight ranges on light trading volume as Japan began its extended Golden Week holiday. China will observe its Labor Day holiday from Wednesday to Friday. A Federal Reserve policy meeting, Brexit negotiations and a raft of global data including U.S. payrolls could each be the trigger for big currency swings this week.

“You have a lot of economic data later this week from around the world. People are waiting to see if there is a lot of major shifts,” said Chuck Tomes, associate portfolio manager at Manulife Asset Management in Boston.

A swathe of manufacturing surveys from Europe and China are due later this week, along with a first reading on EU GDP.

The U.S. payrolls report on Friday is forecast to show a solid increase of 185,000 jobs in April, with unemployment at 3.8%.

An index that tracks the greenback against the euro, yen, sterling and three other currencies was down 0.16% at 97.85. Last week, it reached 98.330, the highest since May 2017.

The euro was 0.32% higher at $1.1184, while the dollar was up 0.12% at 111.71 yen. The dollar index failed to move higher after data that showed U.S. consumer spending gaining 0.9% in March, marking its biggest monthly increase in more than 9-1/2 years.

The core personal consumption expenditure price index, on the other hand, did not change in March, leaving its year-over-year increase at 1.6%, the smallest rise in 14 months.

Traders await clues on the Fed’s global economic outlook as the central bank’s policymaking board meets on Tuesday and Wednesday. Analysts do not anticipate any major changes from Fed officials who signaled last month they would not raise interest rates in 2019.

Since the Fed’s March meeting, U.S. economic data has shown the expansion has remained intact despite some slowing since late 2018.

Last Friday, the government said first-quarter gross domestic product grew at a 3.2% pace, but the figure was bolstered largely by a surge in inventories and exports. Speculators raised their long dollar positions to $37.21 billion last week, the highest level since December 2015, according to U.S. Commodity Futures Trading Commission data released late Friday.


Company: cnbc, Activity: cnbc, Date: 2019-04-29
Keywords: news, cnbc, companies, hovers, trading, data, 23month, dollar, peak, major, increase, economic, currencies, week, yen, index


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Uneven housing recovery persists, with some markets still behind their pre-recession peak

With the U.S housing bubble far in the rearview mirror, home prices in most places have passed their pre-recession peak. In Naples, Florida, the median price of $337,100 is less than its July 2006 peak of $457,200. Prices have pushed far higher than their previous peaks in some metro areas. For example, in Midland, Texas, the current median of $261,100 is 75% above its May 2008 peak price of $149,300. For markets where home prices have surpassed their previous peak and continue to rise, local dy


With the U.S housing bubble far in the rearview mirror, home prices in most places have passed their pre-recession peak. In Naples, Florida, the median price of $337,100 is less than its July 2006 peak of $457,200. Prices have pushed far higher than their previous peaks in some metro areas. For example, in Midland, Texas, the current median of $261,100 is 75% above its May 2008 peak price of $149,300. For markets where home prices have surpassed their previous peak and continue to rise, local dy
Uneven housing recovery persists, with some markets still behind their pre-recession peak Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: sarah obrien, john w schoen
Keywords: news, cnbc, companies, uneven, markets, housing, prices, previous, metro, areas, far, prerecession, median, price, peak, higher, persists, recovery


Uneven housing recovery persists, with some markets still behind their pre-recession peak

With the U.S housing bubble far in the rearview mirror, home prices in most places have passed their pre-recession peak. In other spots, though, it’s a different story.

The chart above compares current home prices with those in May 2007 — when values peaked nationally and began sliding (some areas hit their exact top at a different point). While the median home price bottomed in early 2012 and then started climbing, prices in some metro areas still remain below where they were 12 years ago.

“Some markets that experienced a huge run-up and then a big downturn are still waiting for a recovery,” said Lawrence Yun, chief economist for the National Association of Realtors. “For some people, the decline from the time they purchased was so severe that it’s taking a long time to recover.”

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In Winchester, Virginia, for example, the median home price of $225,000 remains below its March 2006 peak of $270,900. In Naples, Florida, the median price of $337,100 is less than its July 2006 peak of $457,200.

Nationally, the median home price is $226,700, according to Zillow. That’s about 13% more than its 2007 peak of $200,500.

Prices have pushed far higher than their previous peaks in some metro areas. For example, in Midland, Texas, the current median of $261,100 is 75% above its May 2008 peak price of $149,300.

For markets where home prices have surpassed their previous peak and continue to rise, local dynamics could contribute to prices moving even higher.


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: sarah obrien, john w schoen
Keywords: news, cnbc, companies, uneven, markets, housing, prices, previous, metro, areas, far, prerecession, median, price, peak, higher, persists, recovery


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Apex Legends’ viewership hours plunged 75% from their peak since the game’s launch. Here’s what that says about today’s gaming and streaming space

The report showed that the game hit peak viewership levels when viewers watched over 40 million hours of Apex Legends-focused streams the week following the game’s launch. The current outlook for Apex Legends also seems to reflect the same management and execution issues that have plagued EA, Kulina said. “We haven’t seen any new data regarding revenue or any numbers [for Apex Legends], that’s another frustration; we’re not getting consistent updates,” he added. Shares of EA soared 21% in the tw


The report showed that the game hit peak viewership levels when viewers watched over 40 million hours of Apex Legends-focused streams the week following the game’s launch. The current outlook for Apex Legends also seems to reflect the same management and execution issues that have plagued EA, Kulina said. “We haven’t seen any new data regarding revenue or any numbers [for Apex Legends], that’s another frustration; we’re not getting consistent updates,” he added. Shares of EA soared 21% in the tw
Apex Legends’ viewership hours plunged 75% from their peak since the game’s launch. Here’s what that says about today’s gaming and streaming space Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-18  Authors: annie pei
Keywords: news, cnbc, companies, game, heres, streamers, report, peak, twitch, hours, plunged, todays, launch, space, apex, million, streaming, nir, viewership, legends


Apex Legends' viewership hours plunged 75% from their peak since the game's launch. Here's what that says about today's gaming and streaming space

Lately when gamers go on Twitch, they see Electronic Arts’ battle royale game Apex Legends ranking as the third- or fourth-most-watched category — if that — of all categories streaming on the platform, a far cry from when the game launched in February and dominated viewership.

That’s reflected in a quarterly report released Thursday by StreamElements, a platform that helps Twitch and YouTube streamers manage and improve their livestreams. The report showed that the game hit peak viewership levels when viewers watched over 40 million hours of Apex Legends-focused streams the week following the game’s launch.

But by mid-March, viewership had plunged to around 10 million hours watched in one week — a drop of about 75% from those peak levels back in February.

The key here, according to StreamElements co-founder and CEO Doron Nir, is that based on the report numbers livestreamers are actually now more influential than traditional press in driving awareness of a new game. Nir points out that 57% of the total hours watched on Twitch for all categories actually came from the top 1,000 streamers alone, so you “don’t need a lot of streamers to make noise, just those at the top.”

“The big takeaway is that partnering with premier streamers is ideal for generating hype for a game, but it’s up to the game itself to sustain that momentum once those streamers move onto other titles,” he wrote to CNBC. “Keep in mind that it’s common for a game to come down a little bit after the initial hype is over, but if it’s a good game, it will return to the top when a new season or content is released.”

In fact, viewership for Apex Legends dropped in March when only two of the top 20 streamers focused on the game, according to the report.

“Since there was a significant drop in the charts when Apex Legends went from having 8 to only 2 of the top twenty streamers playing it, it illustrated the strength of the personalities more than the game itself,” Nir added.

As an example, Nir mentioned the spike in viewership for Grand Theft Auto V, or GTA V, a game in the GTA series that was actually released almost six years ago. In March, many of the biggest personalities on Twitch began streaming GTA V after signing up for NoPixel, a role-playing server that essentially allows approved users to play the game as a character of their choice other than the original protagonist.

That shift in focus by many of Twitch’s most popular personalities drove GTA V to become the third-most-watched game on the streaming platform in March.

EA and Respawn Entertainment, the EA-acquired game developer behind the Titanfall universe, upon which Apex Legends is based, confirmed in early March that the game had topped 50 million users in just one month. While Apex Legends was also celebrated at the time for beating battle royale giant Fortnite in terms of early player sign-ups (10 million players within 3 days, a number that took Fortnite about 2 weeks to reach), the report shows that the latter held steady as Apex Legends viewership declined.

Fortnite ended March as the most-watched game in the first quarter on Twitch.

Joel Kulina, head of technology and media trading at Wedbush Securities, said that while initial reports point to a decline in downloads and viewership for Apex Legends, “it doesn’t necessarily mean that we’re seeing a decline in users or revenue is declining.” He said EA management has had a number of execution issues that have become a burden for the company.

“There has been a series of missteps [from Battlefield V and Anthem, to name a few], and those credibility issues are a concern for investors,” he told CNBC.

The current outlook for Apex Legends also seems to reflect the same management and execution issues that have plagued EA, Kulina said.

“We haven’t seen any new data regarding revenue or any numbers [for Apex Legends], that’s another frustration; we’re not getting consistent updates,” he added.

Ultimately, like many of the big traditional video game publishers, EA is struggling to adapt to a gaming world that has become more social and relies on whole new monetization systems, Kulina said.

Shares of EA soared 21% in the two weeks following the release of Apex Legends. They have since dropped about 13%.

According to SuperData, Apex Legends generated an estimated $92 million in revenue across all platforms in February, setting an opening-month launch record for free-to-play games.


Company: cnbc, Activity: cnbc, Date: 2019-04-18  Authors: annie pei
Keywords: news, cnbc, companies, game, heres, streamers, report, peak, twitch, hours, plunged, todays, launch, space, apex, million, streaming, nir, viewership, legends


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Cramer: Overvalued stocks like Pinterest, Zoom could lead to a market peak

The debuts of Pinterest and Zoom Video Communications on public markets also came with froth, which could lead to a market peak, CNBC’s Jim Cramer said Thursday. On the Nasdaq Composite, Zoom is trading even higher — 46-times fiscal 2019 sales, not earnings, Cramer said. Cramer rehashed his argument that an oversupply of high-priced stocks could put a dagger in the longest bull run in stock market history. “The lack of an effective lock-up crushed buyers, and I had hoped would quell enthusiasm f


The debuts of Pinterest and Zoom Video Communications on public markets also came with froth, which could lead to a market peak, CNBC’s Jim Cramer said Thursday. On the Nasdaq Composite, Zoom is trading even higher — 46-times fiscal 2019 sales, not earnings, Cramer said. Cramer rehashed his argument that an oversupply of high-priced stocks could put a dagger in the longest bull run in stock market history. “The lack of an effective lock-up crushed buyers, and I had hoped would quell enthusiasm f
Cramer: Overvalued stocks like Pinterest, Zoom could lead to a market peak Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-18  Authors: tyler clifford
Keywords: news, cnbc, companies, overvalued, zoom, peak, sales, stocks, stock, trading, lead, money, pinterest, deals, market, cramer


Cramer: Overvalued stocks like Pinterest, Zoom could lead to a market peak

The debuts of Pinterest and Zoom Video Communications on public markets also came with froth, which could lead to a market peak, CNBC’s Jim Cramer said Thursday.

Froth is a trading environment that usually precedes a market bubble.

“The top of the market always comes when there is tremendous euphoria, and today we saw that euphoria in the two deals that went off hot,” the “Mad Money” host said.

After a $19 IPO, Pinterest closed its first day of trading at $24.40 — more than a 28% gain. Zoom originally priced its shares at $36. It settled at $62 at the end of the day — a more than 72% run.

Pinterest is selling at 21-times 2018 sales, not earnings, on the New York Stock Exchange. On the Nasdaq Composite, Zoom is trading even higher — 46-times fiscal 2019 sales, not earnings, Cramer said.

The host said he likes the prospects that each of these companies have, but the stock prices could be running in worrisome territory.

“Now that investors or traders or flippers are beginning to pay outrageous multiples to sales, not earnings, but sales, beware,” he said. “That’s a train that is headed to overvaluation hell and you will have to jump off it before it crashes.”

Cramer rehashed his argument that an oversupply of high-priced stocks could put a dagger in the longest bull run in stock market history. Lyft’s IPO bust, he said, was powered in part by the shareholders that were allowed to sell the stock instead of adhering to a lock-up period that could have ranged from 90-180 days.

“The lack of an effective lock-up crushed buyers, and I had hoped would quell enthusiasm for further deals,” Cramer said. “That, however after today, is clearly not the case. So we are going to bring a whole new class of unseasoned investor[s] into this market who are gaming the IPOs and that kind of investor usually arrives after the easy money is made.”

Cramer also said he’s concerned that there isn’t enough money available in growth-focused mutual funds to buy into the IPOs that are in the pipeline. The majority of new money being invested in the market has gone toward index funds, he pointed out.

“That means they can’t be buyers as these new stocks of courses aren’t in indices,” he said. “What will happen is growth funds will have to sell some of their holdings in order to buy these new holdings and, by the way, that happened all morning today.”

Furthermore, there has been a limited amount of supply on Wall Street, which means “there isn’t a lot of excess stock flying around,” Cramer said. Buyback programs have also shrank the volume of stocks available to trade, which could be counterproductive because stocks have rallied so much this year, he added.

That could create dangerous investing scenarios for the anticipated deals in Slack, Uber, and Palantir, he said.

“If you heard about the first-day gains in stocks like Pinterest and Zoom and you haven’t been in the racket, you are going to go to the gaming tables and hope to get some stock on the next deals,” Cramer said. “I am talking about the worst kinds of holders. Holders that are your enemy if you are in a stock that they dominate.”

There’s no need to panic yet — Thursday was just day one, he said.

“As these deals flood the market though, you will see across the board pressure as existing stocks are liquidated to buy the new ones,” Cramer said. “Selling cheap to fund expensive, like Pinterest, like Zoom, is a loser’s game, but may will end up playing it.”


Company: cnbc, Activity: cnbc, Date: 2019-04-18  Authors: tyler clifford
Keywords: news, cnbc, companies, overvalued, zoom, peak, sales, stocks, stock, trading, lead, money, pinterest, deals, market, cramer


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