Dow set for 350-point drop as Target slides, tech gets hit again

U.S. stock index futures pointed to a lower open on Tuesday as a decline in Target shares pressured retailers, while the most popular technology stocks fell again. ET, Dow Jones Industrial Average futures were down 369 points, pointing to a loss of 350.44 at the open. The Dow fell nearly 400 points in the previous session. S&P 500 and Nasdaq 100 futures pointed to a negative open too. Kohl’s, L Brands and Macy’s — which are also in the XRT — fell 11.2 percent, 9.4 percent and 4.1 percent, respec


U.S. stock index futures pointed to a lower open on Tuesday as a decline in Target shares pressured retailers, while the most popular technology stocks fell again. ET, Dow Jones Industrial Average futures were down 369 points, pointing to a loss of 350.44 at the open. The Dow fell nearly 400 points in the previous session. S&P 500 and Nasdaq 100 futures pointed to a negative open too. Kohl’s, L Brands and Macy’s — which are also in the XRT — fell 11.2 percent, 9.4 percent and 4.1 percent, respec
Dow set for 350-point drop as Target slides, tech gets hit again Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-20  Authors: fred imbert, spriha srivastava
Keywords: news, cnbc, companies, stock, futures, sp, hit, drop, points, pointed, set, previous, popular, 350point, slides, gets, fell, open, tech, dow, target, xrt


Dow set for 350-point drop as Target slides, tech gets hit again

U.S. stock index futures pointed to a lower open on Tuesday as a decline in Target shares pressured retailers, while the most popular technology stocks fell again.

At around 8:51 a.m. ET, Dow Jones Industrial Average futures were down 369 points, pointing to a loss of 350.44 at the open. The Dow fell nearly 400 points in the previous session. S&P 500 and Nasdaq 100 futures pointed to a negative open too.

Target fell 11.2 percent in the premarket after reporting weaker-than-expected earnings for the previous quarter. The company also posted lighter-than-forecast same-store sales, which is a key metric for retailers.

The decline sent the SPDR S&P Retail ETF (XRT) down 3.3 percent before the bell. Kohl’s, L Brands and Macy’s — which are also in the XRT — fell 11.2 percent, 9.4 percent and 4.1 percent, respectively.

Futures also fell as members of the popular “FAANG” trade — which is made up of Facebook, Amazon, Apple, Netflix and Alphabet — fell further into bear market. Facebook fell 2.9 percent, while Amazon, Apple and Netflix all dropped at least 3 percent. Alphabet’s stock dropped 2.4 percent.

On Monday, the FAANG members all closed down at least 20 percent from their one-year highs, pressuring the major indexes.

“Short term, unexpected weakness in the tech sector could have a significant impact on the global economy, adding to what already looks like a soggier macro environment,” said Dario Perkins, managing director of global macro at TS Lombard, in a note. “Additional retrenchment in the FAANGs could also undermine the broader US stock market.”


Company: cnbc, Activity: cnbc, Date: 2018-11-20  Authors: fred imbert, spriha srivastava
Keywords: news, cnbc, companies, stock, futures, sp, hit, drop, points, pointed, set, previous, popular, 350point, slides, gets, fell, open, tech, dow, target, xrt


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US Treasury yields move lower as investors await economic data, auctions

The yield on the benchmark 10-year Treasury note, which moves inversely to price, was lower at around 3.3048 percent, while the yield on the 30-year Treasury bond was also lower at 3.0464 percent. It comes after sharp losses on Wall Street in the previous session, with technology firms tumbling amid concerns about softening demand. On Tuesday morning, the U.S. dollar was little changed from the previous session, trading at 96.346 against a basket of major currencies. On the data front, investors


The yield on the benchmark 10-year Treasury note, which moves inversely to price, was lower at around 3.3048 percent, while the yield on the 30-year Treasury bond was also lower at 3.0464 percent. It comes after sharp losses on Wall Street in the previous session, with technology firms tumbling amid concerns about softening demand. On Tuesday morning, the U.S. dollar was little changed from the previous session, trading at 96.346 against a basket of major currencies. On the data front, investors
US Treasury yields move lower as investors await economic data, auctions Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-20  Authors: sam meredith
Keywords: news, cnbc, companies, investors, treasury, little, session, await, previous, auctions, lower, bills, billion, yield, economic, yields, data, dollar


US Treasury yields move lower as investors await economic data, auctions

The yield on the benchmark 10-year Treasury note, which moves inversely to price, was lower at around 3.3048 percent, while the yield on the 30-year Treasury bond was also lower at 3.0464 percent.

It comes after sharp losses on Wall Street in the previous session, with technology firms tumbling amid concerns about softening demand.

In addition to the drop in U.S. stocks, a weakening U.S. dollar did little to alleviate souring market sentiment.

Weaker-than-anticipated economic data on Monday sapped confidence from the greenback, while oil prices fell yet again despite expectations of supply cuts from OPEC early next month.

On Tuesday morning, the U.S. dollar was little changed from the previous session, trading at 96.346 against a basket of major currencies.

On the data front, investors will be watching for U.S. Housing Starts and Philly Fed non-manufacturing figures at around 8:30 a.m. ET.

Meanwhile, the U.S. Treasury is set to auction $50 billion in four-week bills and $30 billion in eight-week bills on Tuesday.


Company: cnbc, Activity: cnbc, Date: 2018-11-20  Authors: sam meredith
Keywords: news, cnbc, companies, investors, treasury, little, session, await, previous, auctions, lower, bills, billion, yield, economic, yields, data, dollar


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Dow set to fall 100 points as chip makers drag down tech

U.S. stock index futures indicated a lower open Friday a decline in semiconductor stocks pressured the overall technology sector. ET, Dow Jones Industrial Average futures were down 131 points, indicating a lower open of 112.27 points. Nasdaq 100 and S&P 500 futures also pointed to lower opening trades. The VanEck Vectors Semiconductor ETF (SMH) fell 3.4 percent in the premarket after Nvidia reported weaker-than-expected revenue for its previous quarter. The weakness in chip stocks dragged the te


U.S. stock index futures indicated a lower open Friday a decline in semiconductor stocks pressured the overall technology sector. ET, Dow Jones Industrial Average futures were down 131 points, indicating a lower open of 112.27 points. Nasdaq 100 and S&P 500 futures also pointed to lower opening trades. The VanEck Vectors Semiconductor ETF (SMH) fell 3.4 percent in the premarket after Nvidia reported weaker-than-expected revenue for its previous quarter. The weakness in chip stocks dragged the te
Dow set to fall 100 points as chip makers drag down tech Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-16  Authors: fred imbert, spriha srivastava
Keywords: news, cnbc, companies, lower, uk, et, drag, technology, makers, dow, points, futures, semiconductor, fall, previous, stock, tech, chip, set, sector, stocks, 100


Dow set to fall 100 points as chip makers drag down tech

U.S. stock index futures indicated a lower open Friday a decline in semiconductor stocks pressured the overall technology sector.

At around 7:20 a.m. ET, Dow Jones Industrial Average futures were down 131 points, indicating a lower open of 112.27 points. Nasdaq 100 and S&P 500 futures also pointed to lower opening trades.

The VanEck Vectors Semiconductor ETF (SMH) fell 3.4 percent in the premarket after Nvidia reported weaker-than-expected revenue for its previous quarter. The company also posted disappointing guidance, sending the stock down nearly 18 percent before the bell.

The weakness in chip stocks dragged the technology sector, with the Technology Select Sector ETF (XLK) falling 1.1 percent in the premarket.

investors also fretted over political developments overseas amid heightened fears the U.K. could soon crash out of the European Union without a divorce deal. The British pound suffered its biggest one-day loss against the euro since October 2016 on Thursday, as a flurry of resignations rocked the government of U.K. Prime Minister Theresa May.

In the previous session, major stock indexes snapped multi-day losing streaks as J.P. Morgan Chase led banks higher and iPhone maker Apple rebounded after dipping into bear market territory earlier this week.

A number of economic data are expected on Friday. Industrial production numbers are expected to be released at 9:15 a.m. ET, followed by a Quarterly Services Report at 10 a.m. ET, a Kansas City Fed Manufacturing Index at 11 a.m. ET and the Baker-Hughes Rig Count at 1:00 p.m. ET.

At 11:30 a.m. ET, Chicago Federal Reserve Bank President Charles Evans is due to speak about current economic conditions and monetary policy at a roundtable in Chicago.


Company: cnbc, Activity: cnbc, Date: 2018-11-16  Authors: fred imbert, spriha srivastava
Keywords: news, cnbc, companies, lower, uk, et, drag, technology, makers, dow, points, futures, semiconductor, fall, previous, stock, tech, chip, set, sector, stocks, 100


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Maersk earnings Q3 2018

Moller-Maersk beat third-quarter operating profit forecasts on Wednesday, but said a trade war between the United States and China had hit demand for container shipping. Maersk, the world’s biggest container shipper, said the effect of trade tensions could reduce global container trade between 0.5 and 2 percent during 2019 and 2020. It said volume growth in container shipping, excluding those from Hamburg Sud, was lower than expected and unexpectedly fell by 1.9 percent from the previous quarter


Moller-Maersk beat third-quarter operating profit forecasts on Wednesday, but said a trade war between the United States and China had hit demand for container shipping. Maersk, the world’s biggest container shipper, said the effect of trade tensions could reduce global container trade between 0.5 and 2 percent during 2019 and 2020. It said volume growth in container shipping, excluding those from Hamburg Sud, was lower than expected and unexpectedly fell by 1.9 percent from the previous quarter
Maersk earnings Q3 2018 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-14  Authors: balint porneczi, bloomberg, getty images
Keywords: news, cnbc, companies, expected, earnings, unexpectedly, billion, quarter, previous, sud, q3, 2018, container, shipping, maersk, hamburg, trade


Maersk earnings Q3 2018

Danish shipping group A.P. Moller-Maersk beat third-quarter operating profit forecasts on Wednesday, but said a trade war between the United States and China had hit demand for container shipping.

Maersk, the world’s biggest container shipper, said the effect of trade tensions could reduce global container trade between 0.5 and 2 percent during 2019 and 2020.

It said volume growth in container shipping, excluding those from Hamburg Sud, was lower than expected and unexpectedly fell by 1.9 percent from the previous quarter.

The company narrowed its expectation for full-year earnings before interest, tax, depreciation and amortisation (EBITDA) to $3.6 billion to $4.0 billion from $3.5 billion to $4.2 billion previously.

The former conglomerate is restructuring to focus entirely on transport and logistics and plans to step up competition with delivery companies UPS and Fedex.

Maersk bought German rival Hamburg Sud in 2016, which helped it boost revenue in the quarter by 31 percent from a year earlier to $10.08 billion, above the $9.98 billion expected by analysts in a Reuters poll.

EBITDA totalled $1.14 billion for the quarter, compared with 1.09 billion forecast by analysts.

However, unit costs — a key parameter in the shipping industry showing how competitive prices each liner can offer its customers — rose unexpectedly by 1.5 percent to $1,809 per forty foot container from the previous quarter.


Company: cnbc, Activity: cnbc, Date: 2018-11-14  Authors: balint porneczi, bloomberg, getty images
Keywords: news, cnbc, companies, expected, earnings, unexpectedly, billion, quarter, previous, sud, q3, 2018, container, shipping, maersk, hamburg, trade


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Stocks rise as oil rebounds after collapse

Stocks traded higher on Wednesday as oil was on track to snap a record losing streak. Oil rose 2.4 percent on Wednesday, rebounding from a 7 percent plunge in the previous session. Crude was also on pace to rise for the first time in 13 sessions. Both stocks rose more than 3 percent. These data come as a relief for investors as they have contended with worries of rising interest rates.


Stocks traded higher on Wednesday as oil was on track to snap a record losing streak. Oil rose 2.4 percent on Wednesday, rebounding from a 7 percent plunge in the previous session. Crude was also on pace to rise for the first time in 13 sessions. Both stocks rose more than 3 percent. These data come as a relief for investors as they have contended with worries of rising interest rates.
Stocks rise as oil rebounds after collapse Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-14  Authors: fred imbert, chris goodney, bloomberg, getty images
Keywords: news, cnbc, companies, rising, previous, rose, energy, oil, collapse, crude, worries, rise, prices, relief, rates, stocks, rebounds


Stocks rise as oil rebounds after collapse

Stocks traded higher on Wednesday as oil was on track to snap a record losing streak.

The Dow Jones Industrial Average rose 54 points, led by gains in Nike. The S&P 500 gained 0.25 percent as energy outperformed. The Nasdaq Composite advanced 0.1 percent.

Oil rose 2.4 percent on Wednesday, rebounding from a 7 percent plunge in the previous session. Crude was also on pace to rise for the first time in 13 sessions. Prices have been under pressure recently amid fears of an abundance of supply and not enough demand.

President Donald Trump earlier this week sent another warning to producer cartel OPEC (Organization of Petroleum Exporting Countries), saying he hoped the group would not cut output in a move to buoy prices. The fall in crude has also sparked worries of a global economic slowdown.

“The crude crash has gotten extreme,” said Frank Cappelleri, executive director at Instinet. “While a mean reverting move is expected soon, the downturn has had negative effects on both the high yield bond market and credit spreads — all of which will be influential on any rally attempts for equities.”

The Energy Select Secotr SPDR Fund rose 1 percent, led by gains in Apache and ConocoPhillips. Both stocks rose more than 3 percent.

Investors also breathed a sigh of relief the latest data showed U.S. inflation is still tame.

The consumer price index rose 0.3 percent in October — in line with expectations — boosted by higher gasoline prices, used cars and housing. The so-called core CPI, which strips out food and energy costs, missed estimates on an annualized basis, coming in at 2.1 percent. This is also lower than a previous reading of 2.2 percent.

These data come as a relief for investors as they have contended with worries of rising interest rates. The Federal Reserve has raised rates three times this year, and is forecast to hike once more before year-end. Investors worry that rising inflation will lead the Fed to tighten policy at a faster-than-expected pace.


Company: cnbc, Activity: cnbc, Date: 2018-11-14  Authors: fred imbert, chris goodney, bloomberg, getty images
Keywords: news, cnbc, companies, rising, previous, rose, energy, oil, collapse, crude, worries, rise, prices, relief, rates, stocks, rebounds


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Gold inches lower on firmer dollar; investors await Fed rate call

Higher U.S. interest rates tend to boost the dollar and also push up bond yields, reducing the appeal of non-yielding bullion. But for now, we think the Fed will continue with the monetary policy tightening,” said Benjamin Lu, a commodities analyst with Phillip Futures. Spot gold was down 0.2 percent at $1,223.70 per ounce, as of 0410 GMT, while U.S. gold futures fell 0.3 percent to $1,224.7 per ounce. Palladium fell 0.3 percent to $1,130.60 per ounce, after touching a two-week high of $1,139.50


Higher U.S. interest rates tend to boost the dollar and also push up bond yields, reducing the appeal of non-yielding bullion. But for now, we think the Fed will continue with the monetary policy tightening,” said Benjamin Lu, a commodities analyst with Phillip Futures. Spot gold was down 0.2 percent at $1,223.70 per ounce, as of 0410 GMT, while U.S. gold futures fell 0.3 percent to $1,224.7 per ounce. Palladium fell 0.3 percent to $1,130.60 per ounce, after touching a two-week high of $1,139.50
Gold inches lower on firmer dollar; investors await Fed rate call Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-08
Keywords: news, cnbc, companies, dollar, rates, policy, fell, gold, inches, ounce, fed, await, rate, 02, twoweek, previous, investors, lower, firmer


Gold inches lower on firmer dollar; investors await Fed rate call

Gold prices inched lower on Thursday on the back of a stronger dollar as investors digested the U.S. midterm election results and turned their focus to the Federal Reserve’s monetary policy decision due later in the day.

The Fed is not expected to raise interest rates until its next gathering in December, however market participants are waiting to see whether it offers clues about possible rate increases in December and in 2019.

Higher U.S. interest rates tend to boost the dollar and also push up bond yields, reducing the appeal of non-yielding bullion.

“Gold has found support around $1,223. If we see good news from the Fed, we may see a bounce. But for now, we think the Fed will continue with the monetary policy tightening,” said Benjamin Lu, a commodities analyst with Phillip Futures.

Spot gold was down 0.2 percent at $1,223.70 per ounce, as of 0410 GMT, while U.S. gold futures fell 0.3 percent to $1,224.7 per ounce.

The dollar index, which measures the greenback against a basket of six major currencies, traded in a narrow range and was last up 0.2 percent, having touched a more than two-week low in the previous session.

“I suspect gold will ping pong along with the U.S. dollar as traders begin to re-evaluate the current state of the USD,” Stephen Innes, APAC trading head at OANDA in Singapore, said in a note.

Meanwhile, Asian stocks rose to a one-month peak following a post-election rally on Wall Street.

Holdings in SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, fell 0.19 percent to 755.23 tonnes on Wednesday, marking the fourth straight session on declines.

Spot gold still targets $1,211, said Reuters technical analyst Wang Tao.

In other precious metals, silver was down 0.2 percent at $14.54 per ounce.

Palladium fell 0.3 percent to $1,130.60 per ounce, after touching a two-week high of $1,139.50 an ounce in the previous session.

Platinum was 0.7 percent lower at $866.85 an ounce, after hitting its highest since June 25 at $877.50 an ounce on Wednesday.


Company: cnbc, Activity: cnbc, Date: 2018-11-08
Keywords: news, cnbc, companies, dollar, rates, policy, fell, gold, inches, ounce, fed, await, rate, 02, twoweek, previous, investors, lower, firmer


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Here’s what changed in the new Fed statement

Kovacevich: Market will react negatively if Fed doesn’t hike rates in December 3 Hours Ago | 05:28This is a comparison of Thursday’s FOMC statement with the one issued after the Fed’s previous policymaking meeting on September 26. Text removed from the September statement is in red with a horizontal line through the middle. Text appearing for the first time in the new statement is in red and underlined. Black text appears in both statements.


Kovacevich: Market will react negatively if Fed doesn’t hike rates in December 3 Hours Ago | 05:28This is a comparison of Thursday’s FOMC statement with the one issued after the Fed’s previous policymaking meeting on September 26. Text removed from the September statement is in red with a horizontal line through the middle. Text appearing for the first time in the new statement is in red and underlined. Black text appears in both statements.
Here’s what changed in the new Fed statement Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-08  Authors: michael sheetz
Keywords: news, cnbc, companies, statements, thursdays, text, rates, fed, heres, underlinedblack, red, react, previous, statement, changed, removed


Here's what changed in the new Fed statement

Kovacevich: Market will react negatively if Fed doesn’t hike rates in December 3 Hours Ago | 05:28

This is a comparison of Thursday’s FOMC statement with the one issued after the Fed’s previous policymaking meeting on September 26.

Text removed from the September statement is in red with a horizontal line through the middle.

Text appearing for the first time in the new statement is in red and underlined.

Black text appears in both statements.


Company: cnbc, Activity: cnbc, Date: 2018-11-08  Authors: michael sheetz
Keywords: news, cnbc, companies, statements, thursdays, text, rates, fed, heres, underlinedblack, red, react, previous, statement, changed, removed


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In 8 days, ‘Red Dead Redemption 2’ has already outpaced previous installment’s total sales, Take-Two CEO says

In 8 days, ‘Red Dead Redemption 2’ has already outpaced previous installment’s total sales, Take-Two CEO says8 Hours AgoJim Cramer sits down with Take-Two Interactive Software Chairman and CEO Strauss Zelnick to discuss the release of his video game company’s newest blockbuster.


In 8 days, ‘Red Dead Redemption 2’ has already outpaced previous installment’s total sales, Take-Two CEO says8 Hours AgoJim Cramer sits down with Take-Two Interactive Software Chairman and CEO Strauss Zelnick to discuss the release of his video game company’s newest blockbuster.
In 8 days, ‘Red Dead Redemption 2’ has already outpaced previous installment’s total sales, Take-Two CEO says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-08
Keywords: news, cnbc, companies, strauss, sits, red, total, software, video, previous, installments, says8, outpaced, days, zelnick, sales, redemption, taketwo, dead, ceo


In 8 days, 'Red Dead Redemption 2' has already outpaced previous installment's total sales, Take-Two CEO says

In 8 days, ‘Red Dead Redemption 2’ has already outpaced previous installment’s total sales, Take-Two CEO says

8 Hours Ago

Jim Cramer sits down with Take-Two Interactive Software Chairman and CEO Strauss Zelnick to discuss the release of his video game company’s newest blockbuster.


Company: cnbc, Activity: cnbc, Date: 2018-11-08
Keywords: news, cnbc, companies, strauss, sits, red, total, software, video, previous, installments, says8, outpaced, days, zelnick, sales, redemption, taketwo, dead, ceo


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New Zealand unemployment drops to 10-year low, chance of rate cut distant

New Zealand’s third quarter unemployment rate dropped to a surprise 10-year low on Wednesday, sparking a rally in the local currency as the chance of a central bank interest rate cut grew increasingly distant. Economists polled by Reuters had forecast an unemployment rate of 4.5 percent. The employment growth rate in the quarter more than doubled to 1.1 percent, from 0.5 percent in the previous quarter. The unemployment rate dropped despite an uptick in the labor participation rate, which has cl


New Zealand’s third quarter unemployment rate dropped to a surprise 10-year low on Wednesday, sparking a rally in the local currency as the chance of a central bank interest rate cut grew increasingly distant. Economists polled by Reuters had forecast an unemployment rate of 4.5 percent. The employment growth rate in the quarter more than doubled to 1.1 percent, from 0.5 percent in the previous quarter. The unemployment rate dropped despite an uptick in the labor participation rate, which has cl
New Zealand unemployment drops to 10-year low, chance of rate cut distant Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-07  Authors: dianne manson, getty images news, getty images
Keywords: news, cnbc, companies, wage, rate, low, inflation, unemployment, previous, 10year, growth, cut, drops, employment, quarter, recent, distant, zealand, chance


New Zealand unemployment drops to 10-year low, chance of rate cut distant

New Zealand’s third quarter unemployment rate dropped to a surprise 10-year low on Wednesday, sparking a rally in the local currency as the chance of a central bank interest rate cut grew increasingly distant.

The Reserve Bank of New Zealand’s (RBNZ) Official Cash Rate (OCR) meeting will be held on Thursday. The government in March added a goal of maximizing sustainable employment to the central bank’s mandate, alongside inflation targeting.

The New Zealand dollar rallied more than 1.1 percent against the dollar to a three-month high of $0.6740.

The unemployment rate dropped to 3.9 percent over the previous quarter, well below the 4.4 percent rate recorded in the last quarter, and is the lowest since the June 2008 quarter, when it was 3.8 percent. Nevertheless, annual wage growth remained a relatively modest 1.9 percent.

Economists polled by Reuters had forecast an unemployment rate of 4.5 percent.

The unemployment result suggested the RBNZ could tone down a previous suggestion the next rates move be a cut when it releases its monetary policy statement on Thursday.

A Reuters poll this week showed the central bank is widely expected to hold interest rates at 1.75 percent in its meeting this week, as policy makers would wait to see if a recent acceleration in inflation and better-than-expected growth figures are sustainable.

ASB Chief Economist Nick Tuffley said in a note that the hurdles for an interest rate cut have certainly increased following the unemployment figures.

“The next move in the OCR is likely up, but not until concrete signs of firming wage inflation emerge, which looks to be 2020,” said Tuffley.

Economic growth, employment, and inflation numbers have come in higher than the RBNZ’s forecasts in the recent months.

The employment growth rate in the quarter more than doubled to 1.1 percent, from 0.5 percent in the previous quarter.

Economists had predicted an employment growth of 0.5 percent.

The unemployment rate dropped despite an uptick in the labor participation rate, which has climbed to 71.1 percent from 70.9 percent in the previous quarter, the data showed.

Wage inflation has been tepid in recent years even as employment has grown. Quarterly wage growth slowed to 0.5 percent in the third quarter from 0.6 percent in the previous quarter.

“While this quarter’s unemployment rate is outside market expectations, we know New Zealand has a small economy with a dynamic labor market, and large changes, both up and down, have happened before — in late 2012 and 2015,” Statistics New Zealand labor market and household statistics senior manager Jason Attewell said.


Company: cnbc, Activity: cnbc, Date: 2018-11-07  Authors: dianne manson, getty images news, getty images
Keywords: news, cnbc, companies, wage, rate, low, inflation, unemployment, previous, 10year, growth, cut, drops, employment, quarter, recent, distant, zealand, chance


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Dollar capped as investors wade back into riskier assets, pound stands tall

The dollar steadied on Friday ahead of the closely watched U.S. jobs report, after pulling back from 16-month highs in the previous session as investors cautiously moved back into riskier assets. Market participants were awaiting the U.S. jobs report due at 1230 GMT for clues on the pace of further interest rate rises in the United States. “And if the jobs report proves to be robust, we could see the dollar bounce back from recent losses and resume its rise.” The Aussie, which is sensitive to Ch


The dollar steadied on Friday ahead of the closely watched U.S. jobs report, after pulling back from 16-month highs in the previous session as investors cautiously moved back into riskier assets. Market participants were awaiting the U.S. jobs report due at 1230 GMT for clues on the pace of further interest rate rises in the United States. “And if the jobs report proves to be robust, we could see the dollar bounce back from recent losses and resume its rise.” The Aussie, which is sensitive to Ch
Dollar capped as investors wade back into riskier assets, pound stands tall Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-02
Keywords: news, cnbc, companies, chinese, report, economic, riskier, strong, previous, trade, yen, pound, dollar, stands, investors, yields, tall, jobs, capped, assets, wade


Dollar capped as investors wade back into riskier assets, pound stands tall

The dollar steadied on Friday ahead of the closely watched U.S. jobs report, after pulling back from 16-month highs in the previous session as investors cautiously moved back into riskier assets.

The dollar index against a basket of six major currencies was little changed at 96.375 after dropping nearly 0.9 percent overnight, weighed down by a rallying sterling.

Sentiment was also buoyed by news of a phone call between U.S. President Donald Trump and Chinese President Xi Jinping that traders hoped could signal an easing in U.S.-China trade tensions.

The pound stood tall after the Bank of England kept interest rates steady on Thursday and hinted at slightly faster future rate rises if Brexit goes smoothly.

World equity markets began November with a broad rally on Thursday after a brutal October, boosted by strong corporate earnings and hopes for a thaw in the U.S.-China trade row. That reduced some of the support for currencies like the dollar, which benefit in times of heightened risk aversion.

Market participants were awaiting the U.S. jobs report due at 1230 GMT for clues on the pace of further interest rate rises in the United States.

“Long-term U.S. yields have established a firm foothold above 3 percent, providing a strong backdrop for the dollar,” said Junichi Ishikawa, senior FX strategist at IG Securities in Tokyo. “And if the jobs report proves to be robust, we could see the dollar bounce back from recent losses and resume its rise.”

U.S. payroll figures are expected to have risen 190,000 in October from 134,000 in the previous month, with average hourly earnings seen increasing 0.2 percent in October after a 0.3 percent gain the previous month.

The dollar index had risen to 97.00 on Wednesday, its highest since February 2017, lifted by upbeat U.S. data and a corresponding rise in Treasury yields.

The dollar was higher against its major peers earlier this week, with the euro dogged by a lackluster European economic outlook and a cautious-sounding Bank of Japan lending little support to the yen.

The greenback, however, pulled back as the pound surged on Thursday following reports that London is close to sealing a financial services deal with Brussels.

Sterling was a shade lower at $1.2990 but retained the bulk of its gains after surging 1.8 percent on Thursday, its biggest one-day gain since April 2017.

The euro inched down 0.05 percent to $1.1400 after gaining 0.9 percent overnight on the dollar’s retreat. The single currency had stooped to a 2-1/2-month trough of $1.1302 on Wednesday.

The dollar was steady at 112.710 yen after declining 0.25 percent on Thursday. The greenback has gained 0.8 percent versus the yen this week, during which it scaled a three-week high of 113.385.

“While a strong U.S. jobs report could push up Treasury yields and lift the dollar, an excessive climb in yields could depress equities and end up supporting the yen,” said Masafumi Yamamoto, chief forex strategist at Mizuho Securities.

The Australian dollar dipped 0.1 percent to $0.7198 after jumping 1.8 percent the previous day.

The Aussie, which is sensitive to Chinese economic development, surged as presidents Trump and Xi both expressed optimism on Thursday about resolving their bitter trade disputes.

China’s yuan advanced 0.8 percent in offshore trade on Thursday. It was a touch lower at 6.9287 per dollar following the rally.

Worries about Chinese economic growth and the trade row had pushed the offshore yuan to a 22-month trough of 6.9800 midweek.


Company: cnbc, Activity: cnbc, Date: 2018-11-02
Keywords: news, cnbc, companies, chinese, report, economic, riskier, strong, previous, trade, yen, pound, dollar, stands, investors, yields, tall, jobs, capped, assets, wade


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