US futures higher ahead of November’s jobs report

U.S. stock index futures were higher on Friday. ET, Dow futures rose 55 points, indicating a positive open of more than 56 points. Futures on the S&P and Nasdaq were both slightly higher. Market focus is largely attuned to global trade developments, following an upbeat tone from President Donald Trump. Dec. 15 is the date when tariffs on another $156 billion in Chinese goods will go into effect.


U.S. stock index futures were higher on Friday.
ET, Dow futures rose 55 points, indicating a positive open of more than 56 points.
Futures on the S&P and Nasdaq were both slightly higher.
Market focus is largely attuned to global trade developments, following an upbeat tone from President Donald Trump.
Dec. 15 is the date when tariffs on another $156 billion in Chinese goods will go into effect.
US futures higher ahead of November’s jobs report Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-06  Authors: sam meredith
Keywords: news, cnbc, companies, trade, chinese, higher, goods, jobs, worth, upbeat, futures, tariffs, washington, ahead, novembers, points, report, worlds


US futures higher ahead of November's jobs report

U.S. stock index futures were higher on Friday.

At around 02:15 a.m. ET, Dow futures rose 55 points, indicating a positive open of more than 56 points. Futures on the S&P and Nasdaq were both slightly higher.

Market focus is largely attuned to global trade developments, following an upbeat tone from President Donald Trump.

On Thursday, Trump said the world’s two largest economies were inching closer to a trade deal. His comments come as investors continue to closely monitor the prospect of a so-called “phase one” trade agreement, with less than 10 days to go before Washington is poised to impose even more tariffs on Chinese goods.

Dec. 15 is the date when tariffs on another $156 billion in Chinese goods will go into effect.

The U.S. and China have imposed tariffs on billions of dollars’ worth of one another’s goods since the start of 2018, battering financial markets and souring business and consumer sentiment.


Company: cnbc, Activity: cnbc, Date: 2019-12-06  Authors: sam meredith
Keywords: news, cnbc, companies, trade, chinese, higher, goods, jobs, worth, upbeat, futures, tariffs, washington, ahead, novembers, points, report, worlds


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Limited-time offer ending soon: Earn up to 100,000 bonus points with Amex Business Platinum Card

The limited-time welcome bonus for The Business Platinum® Card from American Express is ending today. The Business Platinum® Card from American Express’ welcome bonusEarn up to 100,000 points: 50,000 Membership Rewards® points after you spend $10,000 and an extra 50,000 points after you spend an additional $15,000 all on qualifying purchases within your first three months of card membership. Cardholders earn a competitive 5X Membership Rewards® points on flights and prepaid hotels on Amextravel.


The limited-time welcome bonus for The Business Platinum® Card from American Express is ending today.
The Business Platinum® Card from American Express’ welcome bonusEarn up to 100,000 points: 50,000 Membership Rewards® points after you spend $10,000 and an extra 50,000 points after you spend an additional $15,000 all on qualifying purchases within your first three months of card membership.
Cardholders earn a competitive 5X Membership Rewards® points on flights and prepaid hotels on Amextravel.
Limited-time offer ending soon: Earn up to 100,000 bonus points with Amex Business Platinum Card Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-05  Authors: alexandria white
Keywords: news, cnbc, companies, bonus, purchases, offer, earn, platinum, ending, points, american, card, soon, express, business, travel, rewards, limitedtime, fee


Limited-time offer ending soon: Earn up to 100,000 bonus points with Amex Business Platinum Card

The limited-time welcome bonus for The Business Platinum® Card from American Express is ending today. Potential cardholders have until the end of the day to apply for the card in order to take advantage of the elevated welcome bonus, which gives new cardholders up to 100,000 Membership Rewards® points. CNBC Select has all the details you need to know about the welcome bonus offer that ends Dec. 4, 2019, and the card’s benefits.

The Business Platinum® Card from American Express’ welcome bonus

Earn up to 100,000 points: 50,000 Membership Rewards® points after you spend $10,000 and an extra 50,000 points after you spend an additional $15,000 all on qualifying purchases within your first three months of card membership.

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While the value of one point varies, here are some ways you can redeem 100,000 Membership Rewards® points, according to Amex’s rewards points calculator: Pay with points at checkout: $1,000 (NYC Taxi), $500 (Ticketmaster), $700 (all other eligible sites, such as Amazon and PayPal)

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up to 100,000 points in the partners’ program Shopping with merchant partners: $500 *You have to pay for travel using The Business Platinum® Card from American Express through American Express Travel to get these redemption rates. There are no blackout dates when travel is booked on this site. Plus points don’t expire while your account is open.

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Company: cnbc, Activity: cnbc, Date: 2019-12-05  Authors: alexandria white
Keywords: news, cnbc, companies, bonus, purchases, offer, earn, platinum, ending, points, american, card, soon, express, business, travel, rewards, limitedtime, fee


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US futures point to slightly higher open

U.S. stock index futures were slightly higher on Thursday. At around 02:15 a.m., Dow futures rose 27 points, indicating a positive open of more than 20 points. Futures on the S&P and Nasdaq were both slightly higher. President Donald Trump also said Wednesday that he believed trade talks with Beijing were going “very well.” On the data front, the latest weekly jobless claims and international trade figures for October will be released at 8:30 a.m.


U.S. stock index futures were slightly higher on Thursday.
At around 02:15 a.m., Dow futures rose 27 points, indicating a positive open of more than 20 points.
Futures on the S&P and Nasdaq were both slightly higher.
President Donald Trump also said Wednesday that he believed trade talks with Beijing were going “very well.”
On the data front, the latest weekly jobless claims and international trade figures for October will be released at 8:30 a.m.
US futures point to slightly higher open Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-05  Authors: sam meredith
Keywords: news, cnbc, companies, trade, report, goods, slightly, open, points, higher, talks, tariffs, latest, point, limited, futures


US futures point to slightly higher open

U.S. stock index futures were slightly higher on Thursday.

At around 02:15 a.m., Dow futures rose 27 points, indicating a positive open of more than 20 points. Futures on the S&P and Nasdaq were both slightly higher.

Market focus is largely attuned to global trade developments, following a media report suggesting the world’s two largest economies were on the cusp of signing a so-called “phase one” trade deal.

A Bloomberg report, which cited people familiar with U.S.-China trade talks, said both countries were inching closer to securing an agreement on the amount of tariffs that would be rolled back in a limited trade deal. President Donald Trump also said Wednesday that he believed trade talks with Beijing were going “very well.”

Market participants are closely monitoring the prospect of a limited trade agreement with 10 days to go before Washington is poised to impose even more tariffs on Chinese goods. Dec. 15 is the date when tariffs on another $156 billion in Chinese goods would go into effect.

The U.S. and China have imposed tariffs on billions of dollars’ worth of one another’s goods since the start of 2018, battering financial markets and souring business and consumer sentiment.

In corporate news, Toronto-Dominion Bank, Dollar General and Tiffany are among some of the companies scheduled to report earnings before the opening bell.

CrowdStrike, DocuSign and Okta are all set to report their latest quarterly figures after market close.

On the data front, the latest weekly jobless claims and international trade figures for October will be released at 8:30 a.m. ET. Factory orders for October will follow slightly later in the session.


Company: cnbc, Activity: cnbc, Date: 2019-12-05  Authors: sam meredith
Keywords: news, cnbc, companies, trade, report, goods, slightly, open, points, higher, talks, tariffs, latest, point, limited, futures


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US futures point to a slightly higher open

U.S. stock index futures edged higher Wednesday morning. At around 01:30 a.m., Dow futures rose 14 points, indicating a positive open of more than 4 points. Futures on the S&P and Nasdaq were both marginally higher. Meanwhile, France and the wider European Union have promised to retaliate against potential U.S. tariffs on French goods. The U.S. Trade Representative announced Monday a list of French goods that could see tariffs of up to 100%.


U.S. stock index futures edged higher Wednesday morning.
At around 01:30 a.m., Dow futures rose 14 points, indicating a positive open of more than 4 points.
Futures on the S&P and Nasdaq were both marginally higher.
Meanwhile, France and the wider European Union have promised to retaliate against potential U.S. tariffs on French goods.
The U.S. Trade Representative announced Monday a list of French goods that could see tariffs of up to 100%.
US futures point to a slightly higher open Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-04  Authors: silvia amaro
Keywords: news, cnbc, companies, point, slightly, points, french, higher, goods, futures, trump, impose, european, trade, open, tariffs, services


US futures point to a slightly higher open

U.S. stock index futures edged higher Wednesday morning.

At around 01:30 a.m., Dow futures rose 14 points, indicating a positive open of more than 4 points. Futures on the S&P and Nasdaq were both marginally higher.

Market players are monitoring high-level meetings between President Donald Trump and other NATO leaders, as the institution celebrates 70 years of existence. Trump told reporters in London that might be better to conclude a trade deal with China after the 2020 presidential election. The U.S. is due to impose fresh duties on Chinese goods by December 15.

Meanwhile, France and the wider European Union have promised to retaliate against potential U.S. tariffs on French goods. The U.S. Trade Representative announced Monday a list of French goods that could see tariffs of up to 100%. The decision came after France introduced a digital services tax, which the U.S. argues treats U.S. tech companies unfairly. Other European countries, including the U.K. have plans to impose a digital tax.

At the same time, the U.S. Commerce Secretary Wilbur Ross said the Trump administration has not ruled out imposing tariffs on imported European autos, despite not announcing a decision in November on whether to put additional levies on cars in the region.

On the data front, there will be ADP payrolls out at 8:15 a.m. ET; followed by services PMIs at 9:45 a.m. ET and ISM nonmanufacturing data at 10 a.m. ET.

In corporate news, Campbell Soup, Slack and Royal Bank of Canada are due to report Wednesday.


Company: cnbc, Activity: cnbc, Date: 2019-12-04  Authors: silvia amaro
Keywords: news, cnbc, companies, point, slightly, points, french, higher, goods, futures, trump, impose, european, trade, open, tariffs, services


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Slack’s stock rises on quarterly results but outlook points to higher-than-expected losses

The stock bounced around, dropping as much as 6% at one point, on concern about future losses. Here are the key numbers for the fiscal third quarter:Earnings: Loss of 2 cents a share, compared with an average estimated loss of 8 cents, according to Refinitiv. Loss of 2 cents a share, compared with an average estimated loss of 8 cents, according to Refinitiv. Revenue: $168.7 million, compared with an average estimate of $156 million, according to Refinitiv. For the fourth quarter, Slack forecast


The stock bounced around, dropping as much as 6% at one point, on concern about future losses.
Here are the key numbers for the fiscal third quarter:Earnings: Loss of 2 cents a share, compared with an average estimated loss of 8 cents, according to Refinitiv.
Loss of 2 cents a share, compared with an average estimated loss of 8 cents, according to Refinitiv.
Revenue: $168.7 million, compared with an average estimate of $156 million, according to Refinitiv.
For the fourth quarter, Slack forecast
Slack’s stock rises on quarterly results but outlook points to higher-than-expected losses Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-04  Authors: ari levy
Keywords: news, cnbc, companies, according, results, cents, revenue, higherthanexpected, losses, slack, share, points, rises, quarterly, compared, stock, average, loss, outlook, slacks, million


Slack's stock rises on quarterly results but outlook points to higher-than-expected losses

Slack Technologies Inc. CEO Stewart Butterfield stands on the trading floor during the company’s IPO at the New York Stock Exchange (NYSE) in New York, U.S. June 20, 2019.

Slack shares rose about 2% in extended trading on Wednesday after the developer of the popular work messaging app reported better-than-expected quarterly results. The stock bounced around, dropping as much as 6% at one point, on concern about future losses.

Here are the key numbers for the fiscal third quarter:

Earnings: Loss of 2 cents a share, compared with an average estimated loss of 8 cents, according to Refinitiv.

Loss of 2 cents a share, compared with an average estimated loss of 8 cents, according to Refinitiv. Revenue: $168.7 million, compared with an average estimate of $156 million, according to Refinitiv.

Sales in the quarter, which ended Oct. 31, climbed 60% from $105.6 million a year earlier. Slack continues to grow at a rapid clip by selling its messaging service to businesses of all sizes, particularly to large companies. The company said it now has 821 customers paying more than $100,000 in annual recurring revenue, up from 720 in the second quarter.

CEO Stewart Butterfield said on the call with analysts that Slack now has more than 50 customers spending more than $1 million a year, up from 30 a year ago.

For the fourth quarter, Slack forecast revenue of $172 million to $174 million, compared to the $172.9 million average analyst estimate, according to analysts surveyed by Refinitiv. But the company provided guidance for its bottom line that suggested costs may be higher than expected. Slack said its loss, excluding some items, will be between 6 cents and 7 cents a share, while analysts were projecting a 6-cent loss.

Slack also said early investor Chamath Palihapitiya is leaving the board and is being replaced by Michael McNamara. Palihapitiya landed in hot water in May, just ahead of the company’s stock market debut, when he told CNBC that Slack “will be one of the most important tech companies in the world.” Slack said in a filing after the TV appearance that the company did not endorse the comments.


Company: cnbc, Activity: cnbc, Date: 2019-12-04  Authors: ari levy
Keywords: news, cnbc, companies, according, results, cents, revenue, higherthanexpected, losses, slack, share, points, rises, quarterly, compared, stock, average, loss, outlook, slacks, million


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If we are in for another December market plunge, here are the places to hide out

In case fears that last December will repeat itself become a reality, CNBC screened for the best places to hide out when volatility spikes. CNBC also used Kensho to screen which sectors perform the best when the VIX jumps five or more points. Consumer staples, utilities and healthcare are the best sectors to hide out in, with the highest likelihood of beating the market. Consumer staples on average drop 1.54% and trade positive 39% of the time after the VIX spikes five points. Utilities usually


In case fears that last December will repeat itself become a reality, CNBC screened for the best places to hide out when volatility spikes.
CNBC also used Kensho to screen which sectors perform the best when the VIX jumps five or more points.
Consumer staples, utilities and healthcare are the best sectors to hide out in, with the highest likelihood of beating the market.
Consumer staples on average drop 1.54% and trade positive 39% of the time after the VIX spikes five points.
Utilities usually
If we are in for another December market plunge, here are the places to hide out Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-03  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, points, vix, best, hide, market, places, etf, trading, trade, staples, plunge, average, volatility


If we are in for another December market plunge, here are the places to hide out

Traders work on the floor of the New York Stock Exchange on August 14, 2019

It’s December, markets are dropping and it feels like we’ve been here before.

Stocks dropped the first two trading days of December and investors are having deja vu. The Dow Jones Industrial Average tumbled nearly 270 points on Monday and continued to fall more than 400 points on Tuesday after President Donald Trump suggested he may want to delay a trade deal with China until after the 2020 presidential election.

Alongside the suffering markets, the CBOE Volatility Index, a gauge for investor fear, jumped more than six points above the 17 level, after being stable and range bound for most of November.

Investors are now having flashbacks to last year, when the market suffered its worst December since the Great Depression amid the intensified U.S.-China trade war and a rate increase from the Federal Reserve, with the major stock averages briefly dipping into bear market territory on an intraday basis. The VIX spiked above the 36 level in December 2018.

In case fears that last December will repeat itself become a reality, CNBC screened for the best places to hide out when volatility spikes.

CNBC used Kensho, a hedge fund analytics tool, to track the top exchange-traded fund performers when the volatility index, a measure of the 30-day implied volatility of U.S. stocks, popped five points or more in a month.

The iShares Gold Trust ETF (IAU) and the SPDR Gold Shares ETF (GLD) are the best performing ETFs during months when volatility spikes, trading positive 65% of the time and returning an average of 2.6% if you buy when the VIX starts to move and sell one month later. Gold is seen as a safe haven and store of value during times of a economic uncertainty and increased geopolitical tensions.

As a proxy for bonds in times of economic uncertainty, the iShares 20+ year Treasury Bond ETF (TLT) and the Vanguard Total Bond Market ETF (BND) are also a strong performers following a spike in volatility, with an average 2.45% and 0.65% return, respectively.

The iShares Silver ETF (SLV) earns an average of 0.86% when the VIX pops and has the highest probability of trading positive.

CNBC also used Kensho to screen which sectors perform the best when the VIX jumps five or more points. If investors buy the S&P 500 when the VIX starts to move and sold one month after, the average return is negative 4.01%. Consumer staples, utilities and healthcare are the best sectors to hide out in, with the highest likelihood of beating the market. However, historical data show, these sectors still lose investors money.

Consumer staples on average drop 1.54% and trade positive 39% of the time after the VIX spikes five points. Morgan Stanley backed up Kensho data with its big call for consumer staples on Monday. Chief U.S. equity strategist Michael Wilson told clients in a note Monday that expectations of “disappointing” S&P 500 earnings next year should allow companies like Coca-Cola and McDonald’s, both of which promise better-than-average earnings potential and free cash flow, to outperform the broader market.

Utilities usually drop about 2% following a spike in volatility, beating the overall market. Utilities are generally more stable stocks, as demand for electricity and gas is a steady consumer and business need. And the shares pay above-average dividends.


Company: cnbc, Activity: cnbc, Date: 2019-12-03  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, points, vix, best, hide, market, places, etf, trading, trade, staples, plunge, average, volatility


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Impeachment report: Giuliani spoke to White House, Nunes and OMB at key points in Ukraine campaign

The day before that, on April 23, Giuliani placed three calls to the White House, and received one call back from an unidentified number, according to a sweeping new report published Tuesday by Democrats on the House Intelligence Committee. Ambassador to Ukraine Marie Yovanovitch was abruptly recalled from her post, President Donald Trump’s personal lawyer, Rudy Giuliani, who led a campaign for Yovanovitch’s removal, spoke to the White House 11 separate times. These witnesses included current an


The day before that, on April 23, Giuliani placed three calls to the White House, and received one call back from an unidentified number, according to a sweeping new report published Tuesday by Democrats on the House Intelligence Committee.
Ambassador to Ukraine Marie Yovanovitch was abruptly recalled from her post, President Donald Trump’s personal lawyer, Rudy Giuliani, who led a campaign for Yovanovitch’s removal, spoke to the White House 11 separate times.
These witnesses included current an
Impeachment report: Giuliani spoke to White House, Nunes and OMB at key points in Ukraine campaign Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-03  Authors: christina wilkie
Keywords: news, cnbc, companies, impeachment, parnas, calls, points, giuliani, report, ukraine, omb, committee, key, white, nunes, president, house, trump, spoke


Impeachment report: Giuliani spoke to White House, Nunes and OMB at key points in Ukraine campaign

Republican presidential candidate Donald Trump, left, talks the former New York City mayor Rudy Giuliani at a fundraising event in the Bronx borough of New York, Monday, July 6, 2015.

A few weeks before these calls, the report revealed, on April 12, there was a web of 27 separate calls involving various combinations of Giuliani, his indicted associate Lev Parnas, the top Republican on the House Intelligence Committee, Rep. Devin Nunes, former Trump attorney Victoria Toensing, then-columnist at The Hill John Solomon, the White House, and the Office of Management and Budget.

The day before that, on April 23, Giuliani placed three calls to the White House, and received one call back from an unidentified number, according to a sweeping new report published Tuesday by Democrats on the House Intelligence Committee.

WASHINGTON — On the day that then-U.S. Ambassador to Ukraine Marie Yovanovitch was abruptly recalled from her post, President Donald Trump’s personal lawyer, Rudy Giuliani, who led a campaign for Yovanovitch’s removal, spoke to the White House 11 separate times.

What was discussed on these calls is still unclear. But their inclusion in the 300-page report adds a remarkable new chapter to Democrats’ account of a monthslong campaign to pressure Ukraine to announce investigations that would help Trump politically.

Tuesday’s report laid out in painstaking detail the evidence so far gathered by the Intelligence Committee in its impeachment inquiry into the president. The committee has spent the past two months investigating whether Trump abused his presidential powers by withholding foreign aid and a White House meeting from Ukraine unless the country’s president agreed to launch investigations into Trump’s domestic political opponents.

According to the report’s introduction, the committee “uncovered a months-long effort by President Trump to use the powers of his office to solicit foreign interference on his behalf in the 2020 election.”

The president’s actions, they wrote, “subverted U.S. foreign policy toward Ukraine and undermined our national security in favor of two politically motivated investigations that would help his presidential reelection campaign.”

Much of what follows in the report has already been revealed in public testimony and closed-door depositions taken from more than a dozen witnesses over the course of October and November. These witnesses included current and former diplomats, national security officials, Trump political appointees and career staff from the Pentagon, the White House and the State Department.

But the unexpected call logs paint a far more precise and damaging picture of what was occurring behind the scenes at the White House than has been previously known.

They show, for instance, that Giuliani, who is not a government employee, was in frequent contact with the White House Office of Management and Budget, which carried out an order this summer that witnesses said came directly from Trump himself, to freeze $391 million in foreign and military aid to Ukraine.

Trump and congressional Republicans have insisted since the beginning of the inquiry that the hold on aid to Ukraine was not connected to Giuliani’s pressure campaign on Ukraine’s president to launch investigations beneficial to Trump. But if there was, in fact, no connection, then it is unclear why the president’s personal lawyer would have needed to speak repeatedly to OMB officials.

A lawyer for Giuliani did not immediately respond to questions from CNBC on Tuesday about whether his client was aware that the committee had obtained Giuliani’s phone records.

During a press conference Tuesday, Intelligence Committee chairman Rep. Adam Schiff, D-Calif., declined to say how his committee had obtained Giuliani’s phone records. But Rep. Eric Swalwell, D-Calif., another member of the committee, confirmed during a recent TV appearance that the committee had issued subpoenas for third-party phone records.

Another key figure whose role in events was further illuminated by the new phone records is Nunes, R-Calif., whose name appeared 49 times in the report in relation to contacts Nunes had with Giuliani and his associates.

These include calls that Nunes had with Giuliani and Parnas on April 10, 11 and 12, as well as calls that Nunes’ staff held with Giuliani and with Parnas throughout the spring, starting in February of this year and continuing through at least May.

Nunes did not reveal any of those contacts either before or during the monthlong public phase of the impeachment hearings. A spokesman for Nunes did not respond to questions Tuesday from CNBC about the lawmaker’s contacts with Giuliani and Parnas, who was helping Giuliani dig for dirt on Biden in Ukraine.

An attorney for Parnas has previously confirmed that his client had helped arrange a meeting for Nunes in late 2018 with a Ukrainian prosecutor who claimed to have “evidence” of wrongdoing by Democrats.

The same lawyer, Joseph Bondy, told CNBC last month that Nunes’ staff had canceled a planned trip to Ukraine for additional meetings with potential sources of dirt, out of fear that Schiff, who became committee chairman in early 2019, would learn of their plans.

Instead of Nunes’ staff making the trip themselves, Parnas set up Skype calls for them with several Ukrainian prosecutors eager to help promote the narrative that Ukraine had interfered in the 2016 presidential election on behalf of Democrat Hillary Clinton.

Asked Tuesday about Nunes’ role in the yearlong campaign to acquire political ammunition for Trump to use against Biden, Schiff said Nunes had been “complicit” in the events at the heart of the impeachment inquiry. He declined to comment on Nunes’ decision not to disclose his contacts with Giuliani and Parnas, even as both men were mentioned by name repeatedly during public hearings over which Nunes served as the top Republican.

“In terms of the ranking member,” Schiff said, “it won’t surprise you that I’m going to reserve comment. It is, I think, deeply concerning that at a time when the president of the United States was using the power of his office to dig up dirt on a political rival, that there may be evidence that there were members of Congress complicit in that activity.”

On Wednesday, the House Judiciary Committee is scheduled to take up the next phase of the impeachment process, with a public hearing to consider what the U.S. Constitution says about the grounds for impeaching a president. The scheduled witnesses for the hearing are constitutional scholars and experts on American government.


Company: cnbc, Activity: cnbc, Date: 2019-12-03  Authors: christina wilkie
Keywords: news, cnbc, companies, impeachment, parnas, calls, points, giuliani, report, ukraine, omb, committee, key, white, nunes, president, house, trump, spoke


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US futures point to slightly higher open

U.S. stock index futures were slightly higher on Tuesday. At around 03:40 a.m., Dow futures rose 24 points, indicating a positive open of more than 34 points. Futures on the S&P and Nasdaq were both marginally higher. The South American trade tariffs have rekindled broader concerns about a protracted dispute between the U.S. and China, with investors monitoring the prospect of a limited agreement. The U.S. president has joined other world leaders in the U.K.’s capital city to mark the 70th anniv


U.S. stock index futures were slightly higher on Tuesday.
At around 03:40 a.m., Dow futures rose 24 points, indicating a positive open of more than 34 points.
Futures on the S&P and Nasdaq were both marginally higher.
The South American trade tariffs have rekindled broader concerns about a protracted dispute between the U.S. and China, with investors monitoring the prospect of a limited agreement.
The U.S. president has joined other world leaders in the U.K.’s capital city to mark the 70th anniv
US futures point to slightly higher open Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-03  Authors: sam meredith
Keywords: news, cnbc, companies, point, trade, world, futures, brazil, president, points, uks, slightly, worlds, open, higher, tariffs, worth


US futures point to slightly higher open

U.S. stock index futures were slightly higher on Tuesday.

At around 03:40 a.m., Dow futures rose 24 points, indicating a positive open of more than 34 points. Futures on the S&P and Nasdaq were both marginally higher.

Market focus is largely attuned to global trade developments, following President Donald Trump’s decision to impose steel and aluminum tariffs on imports from Brazil and Argentina.

The U.S. president suggested the move was necessary because Brazil and Argentina had been “presiding over a massive devaluation of their currencies.”

However, in recent months, both countries have been seeking to strengthen their respective currencies against the dollar.

The South American trade tariffs have rekindled broader concerns about a protracted dispute between the U.S. and China, with investors monitoring the prospect of a limited agreement.

Ahead of his trip to London on Monday, Trump said he was “very happy” the world’s two largest economies were holding talks to try to secure a so-called “phase one” agreement. The U.S. president has joined other world leaders in the U.K.’s capital city to mark the 70th anniversary of NATO.

Washington and Beijing have imposed tariffs on billions of dollars’ worth of one another’s goods since the start of 2018, battering financial markets and souring business and consumer sentiment.


Company: cnbc, Activity: cnbc, Date: 2019-12-03  Authors: sam meredith
Keywords: news, cnbc, companies, point, trade, world, futures, brazil, president, points, uks, slightly, worlds, open, higher, tariffs, worth


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Dow drops 200 points after worse-than-expected manufacturing data

The Dow Jones Industrial Average fell 200 points, or 0.8%. Manufacturing activity in the U.S. continued to contract last month, the Institute for Supply Management said. Sentiment was also dented after President Donald Trump said China still wants to make a deal on trade, “but we’ll see what happens.” Trade worries also offset stronger-than-expected manufacturing data out of China. The Caixin/Markit manufacturing Purchasing Managers’ Index came in at 51.8 for November, topping a Reuters estimate


The Dow Jones Industrial Average fell 200 points, or 0.8%.
Manufacturing activity in the U.S. continued to contract last month, the Institute for Supply Management said.
Sentiment was also dented after President Donald Trump said China still wants to make a deal on trade, “but we’ll see what happens.”
Trade worries also offset stronger-than-expected manufacturing data out of China.
The Caixin/Markit manufacturing Purchasing Managers’ Index came in at 51.8 for November, topping a Reuters estimate
Dow drops 200 points after worse-than-expected manufacturing data Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-02  Authors: fred imbert
Keywords: news, cnbc, companies, dow, points, 200, month, came, wants, worsethanexpected, manufacturing, tariffs, optimism, trade, drops, data, trump, china


Dow drops 200 points after worse-than-expected manufacturing data

Monday’s losses came after a strong performance in November. The major averages had their biggest monthly gains since June, rallying to record highs. The S&P 500 climbed 3.4% last month while the Dow advanced 3.7%. The Nasdaq rallied 4.5%.

The Dow Jones Industrial Average fell 200 points, or 0.8%. The S&P 500 pulled back 0.8% while the Nasdaq Composite traded 1.4% lower. The major averages started off the session with slight gains before turning lower.

Stocks dropped on Monday, the first trading day of December, as investors digested disappointing economic data along with the latest trade news after capping a month that featured blistering gains.

A General Motors assembly worker moves a V6 engine, used in a variety of GM cars, trucks and crossovers, from the final assembly line at the GM Romulus Powertrain plant in Romulus, Michigan, August 21, 2019.

“The trend and momentum going into December are bullish,” said Bruce Bittles, chief investment strategist at Baird. “However, investor optimism is registering as excessive by many of the services we follow. While optimism is not euphoric, excessive investor optimism generally suggests a pause in a bull market.”

Manufacturing activity in the U.S. continued to contract last month, the Institute for Supply Management said. The ISM Manufacturing PMI dipped to 48.1 in November. That’s below an estimate of 49.4. Stocks hit their session lows after the data was released.

“All in all, this should take some wind out of the sails of the argument that the U.S. economy is accelerating going into the end of the year,” said Jon Hill, vice president of rates strategy at BMO Capital Markets.

Sentiment was also dented after President Donald Trump said China still wants to make a deal on trade, “but we’ll see what happens.” There is no clear indication of when both countries will be able to sign an agreement and last week saw fresh tension between Washington and Beijing after Trump signed legislation supporting protesters in Hong Kong.

That comment came after Chinese state media reported Sunday that Beijing wants a cancellation of tariffs for a phase one trade deal.

Trump also said Monday he will restore tariffs on metal imports from Brazil and Argentina. In a tweet, he said: “Brazil and Argentina have been presiding over a massive devaluation of their currencies. which is not good for our farmers. Therefore, effective immediately, I will restore the Tariffs on all Steel & Aluminum that is shipped into the U.S. from those countries.”

Trump noted in a separate tweet that “U.S. markets are up as much as 21%” since his first tariffs announcement on March 1, 2018, adding the U.S. is “taking in massive amounts of money.”

The percolating uncertainty around trade came despite Axios reporting, citing a source, that Trump is expected to hold off on additional tariffs against China set to kick in this month in the hopes of striking a deal before year-end.

Trade worries also offset stronger-than-expected manufacturing data out of China. The Caixin/Markit manufacturing Purchasing Managers’ Index came in at 51.8 for November, topping a Reuters estimate of 51.4.


Company: cnbc, Activity: cnbc, Date: 2019-12-02  Authors: fred imbert
Keywords: news, cnbc, companies, dow, points, 200, month, came, wants, worsethanexpected, manufacturing, tariffs, optimism, trade, drops, data, trump, china


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A key manufacturing index shows the US remains in contraction territory

Manufacturing activity continued to lag in November amid a lag in inventories and new orders, according to the latest ISM Manufacturing reading released Monday. Though the ISM reading is usually reported as a simple number, it actually denotes the percentage of manufacturers planning to expand operations. The report shows that manufacturing “is stuck in a mild recession with little prospect of a real near-term revival. In a related release, the Markit manufacturing reading, known as the Purchasi


Manufacturing activity continued to lag in November amid a lag in inventories and new orders, according to the latest ISM Manufacturing reading released Monday.
Though the ISM reading is usually reported as a simple number, it actually denotes the percentage of manufacturers planning to expand operations.
The report shows that manufacturing “is stuck in a mild recession with little prospect of a real near-term revival.
In a related release, the Markit manufacturing reading, known as the Purchasi
A key manufacturing index shows the US remains in contraction territory Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-02  Authors: jeff cox
Keywords: news, cnbc, companies, growth, reliable, points, expansion, territory, contraction, orders, manufacturing, reading, report, key, ism, remains, trade, index, shows


A key manufacturing index shows the US remains in contraction territory

Manufacturing activity continued to lag in November amid a lag in inventories and new orders, according to the latest ISM Manufacturing reading released Monday.

The reading came in at 48.1 vs. an expectation of 49.4 and the previous month’s reading of 48.3.

Though the ISM reading is usually reported as a simple number, it actually denotes the percentage of manufacturers planning to expand operations. A reading below 50 represents contraction; November was the fourth straight month below the expansion level.

Stocks fell on the report, with the Dow Jones Industrial Average off more than 150 points at 10:30 am ET.

New orders slumped to 47.2, down 1.9 percentage points from October’s 49.1. Inventories, which are a key input for gross domestic product, came in at 45.5, down 3.4 points from the previous month.

The numbers come amid speculation about the pace of U.S. growth.

Recession worries have ebbed from earlier in the year, when the Treasury yield curve was inverted and flashing what has been a reliable 12-month recession indicator for the past 50 years. GDP growth has averaged around 2.4% in 2019, with the third quarter coming in at 2.1%. However, most forecasters expect the fourth quarter to come in under 2%.

The report shows that manufacturing “is stuck in a mild recession with little prospect of a real near-term revival. This will weigh on job growth and capex over the next few months, to the point where we are not ready to rule out a further [Federal Reserve] easing in January,” Ian Shepherdson, chief economist at Pantheon Macroeconomics, said in a note.

Manufacturing is considered a reliable bellwether for how the rest of the economy is doing, though it comprises only about one-fifth of GDP.

Nearly all of the key ISM indicators were at contraction levels in November.

Employment was at 46.6, down 1.1 point for the month, while export orders fell 2.5 points to 47.9 as the U.S. and China continue to look for a resolution to a trade dispute that began more than a year and a half ago.

Supplier deliveries was one of the few metrics in expansion, rising 2.5 points to 52.

In a related release, the Markit manufacturing reading, known as the Purchasing Managers Index, indicated expansion, coming in at 52.6, just above expectations and a bit better than the 51.3 October reading.

The Markit PMI growth reflected an uptick in production and new orders as well as strength in employment indicators. It was the strongest reading in seven months.

Investors will get a close look Friday at the impact the manufacturing slowdown and trade war have had on the broader economy. The Labor Department’s nonfarm payrolls report comes down that day, with economists surveyed by Dow Jones expecting a sharp rebound in growth to 187,000 from November’s 128,000.


Company: cnbc, Activity: cnbc, Date: 2019-12-02  Authors: jeff cox
Keywords: news, cnbc, companies, growth, reliable, points, expansion, territory, contraction, orders, manufacturing, reading, report, key, ism, remains, trade, index, shows


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