Retail sales, small business sentiment, and other news affecting your money in the week ahead

Wall Street will be monitoring the all-important retail sales report due on Friday, especially as the holidays draw near. And a monthly survey of small business owners is scheduled for release on Tuesday. Economists forecast a big increase in consumer spendingWhat’s happening: The monthly retail sales report for November is scheduled for release on Friday, December 13. Small business owners may feel more optimisticWhat’s happening: A monthly report that measures confidence among small business o


Wall Street will be monitoring the all-important retail sales report due on Friday, especially as the holidays draw near.
And a monthly survey of small business owners is scheduled for release on Tuesday.
Economists forecast a big increase in consumer spendingWhat’s happening: The monthly retail sales report for November is scheduled for release on Friday, December 13.
Small business owners may feel more optimisticWhat’s happening: A monthly report that measures confidence among small business o
Retail sales, small business sentiment, and other news affecting your money in the week ahead Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-07  Authors: anna-louise jackson
Keywords: news, cnbc, companies, traders, small, week, sentiment, business, affecting, owners, ahead, report, money, economy, retail, trade, sales


Retail sales, small business sentiment, and other news affecting your money in the week ahead

The record-busting rally in the U.S. stock market has taken a pause. After major benchmarks set several all-time highs in December, the S&P 500 fell nearly 2% in three days before recovering to end the week higher. Experts say trade remains “the biggest risk out there” for the stock market right now, and that’s likely to create some choppiness in the weeks ahead. That’s because there’s a December 15 deadline looming for China and the U.S. to reach a trade deal before additional U.S. tariffs on Chinese goods take effect. The coming week is likely to be busy. House Speaker Nancy Pelosi on Thursday directed the House committees investigating President Donald Trump to proceed with articles of impeachment, and the Judiciary committee is scheduled to hold a hearing Monday morning on the evidence gathered in the inquiry. The Federal Reserve also will meet for its eighth and final time this year on Tuesday and Wednesday. While surprises on either front could rattle traders, pros point out that even big news can be “a nonissue for the market.” Wall Street will be monitoring the all-important retail sales report due on Friday, especially as the holidays draw near. And a monthly survey of small business owners is scheduled for release on Tuesday. Here’s what to watch in the stock market during the week ahead — and how the news could affect your bottom line.

Economists forecast a big increase in consumer spending

What’s happening: The monthly retail sales report for November is scheduled for release on Friday, December 13. This details how much American consumers spent on things like clothing and food. Economists currently forecast the biggest month-over-month increase in spending since August. Last month’s report showed that retail sales rebounded after falling in September, though Americans cut back on buying big-ticket household items. Meanwhile, economists project that another report due Wednesday will show that average hourly earnings ticked up slightly in November. Why it matters: American consumers have been very resilient this year, even amid signs of slowing in the broader economy. Reports in the past week showed that sentiment improved to the second-best number 2019 and consumers are borrowing more money via revolving credit, like credit cards, at rates not seen since July. Traders on Wall Street track the monthly retail sales report closely because consumer spending accounts for more than two-thirds of U.S. economic growth. What it means for you: Perhaps you haven’t made any changes to your shopping habits, but what your neighbors do matters to the overall economy. What’s more, there are less than three weeks until Christmas and the start of Hanukkah — and spending during the all-important holiday shopping season accounts for about 20% of annual retail sales each year, according to the National Retail Federation.

Small business owners may feel more optimistic

What’s happening: A monthly report that measures confidence among small business owners is scheduled for release on Tuesday by the National Federation of Independent Business. This survey looks at 10 different components, like whether business owners plan to hire more workers or spend more money, and how they feel about the economy. Why it matters: Businesses with fewer than 500 workers account for almost half of private sector employment, so traders closely monitor how these business owners feel. A separate poll last week found that optimism about the future of U.S. trade policy helped lift confidence among small business owners, according to the fourth-quarter 2019 CNBC/SurveyMonkey Small Business Survey. Trade has been key to the rebound in sentiment among business owners, so there’s also a risk if China and the U.S. can’t reach a deal before additional tariffs take effect. That means traders will be keen to see if there are any clues about future readings, especially because sentiment this year has been lower, on average, than either 2017 or 2018. What it means for you: Even if you don’t work for a small business, chances are you know someone who does. Hiring plans are good to track because they reveal important clues about the overall health of the U.S. economy. If employers pull back on adding workers to their payrolls, that may make it more difficult for job seekers to find a new position. Last month’s broader jobs report showed that employers added 266,000 jobs, the most since January. The U.S. economy is nearing full employment, meaning almost everyone willing and able to work can. And it’s generally been a good year for workers.

The bottom line


Company: cnbc, Activity: cnbc, Date: 2019-12-07  Authors: anna-louise jackson
Keywords: news, cnbc, companies, traders, small, week, sentiment, business, affecting, owners, ahead, report, money, economy, retail, trade, sales


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

How to get a free credit report

Below, CNBC Select reviews credit report basics and different ways you can get a free credit report, so you can start monitoring your credit now. There are many resources available so you can get a free credit report as often as once a month. Annualcreditreport.comEvery year, you’re entitled to one free credit report from each of the main credit bureaus — Experian, Equifax and TransUnion. And if you sign up for Equifax Core Credit, you can receive an updated Equifax credit report every month. Le


Below, CNBC Select reviews credit report basics and different ways you can get a free credit report, so you can start monitoring your credit now.
There are many resources available so you can get a free credit report as often as once a month.
Annualcreditreport.comEvery year, you’re entitled to one free credit report from each of the main credit bureaus — Experian, Equifax and TransUnion.
And if you sign up for Equifax Core Credit, you can receive an updated Equifax credit report every month.
Le
How to get a free credit report Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-06  Authors: alexandria white
Keywords: news, cnbc, companies, experian, access, card, credit, reports, capital, transunion, report, free, equifax


How to get a free credit report

Below, CNBC Select reviews credit report basics and different ways you can get a free credit report, so you can start monitoring your credit now.

Monitoring your credit report is a smart and simple way to be proactive about your finances. Checking your credit report regularly can help you spot fraud early and ensure the correct information is reported to the credit bureaus. There are many resources available so you can get a free credit report as often as once a month.

No, checking your credit report does not hurt your credit. And checking your credit score doesn’t hurt your credit either. These actions are considered “soft pulls” which don’t affect your credit score. Actions, such as applying for a credit card , which require a “hard pull,” temporarily ding your credit score.

It depends. There are many free credit report resources available, but there are several that also charge fees. With so many free resources available, there really isn’t any need to pay for your credit report. Just make sure you access your credit report through a verified site, such as those listed in this guide and sites that start with “https.”

Annualcreditreport.com

Every year, you’re entitled to one free credit report from each of the main credit bureaus — Experian, Equifax and TransUnion. You can access these reports for free at annualcreditreport.com, which is authorized by federal law. We recommend you don’t access all three reports at the same time, but instead space one report out every four months.

You can also receive reports from each individual bureau by going through their websites (or partner website, in the case of TransUnion). See more below:

CreditWise from Capital One

If you have a Capital One credit card, such as the Capital One® Venture® Rewards Credit Card or Capital One® Savor® Cash Rewards Credit Card, you may have come across CreditWise (which is open to everyone, even if you’re not a Capital One cardholder).

CreditWise provides access to your free TransUnion credit report. After sign-up, you can receive email alerts whenever your TransUnion credit report changes, including recent inquiries, delinquent accounts and more. And when something meaningful changes on either your Experian or TransUnion credit report, CreditWise will send you an alert.

Experian

Experian offers a service that provides your free Experian credit report, updated every 30 days, after you create an account. You won’t receive free copies of your Equifax or TransUnion report. If you want all three reports, Experian offers an all-inclusive package with credit reports from each bureau, but it costs $39.99. It doesn’t make sense to pay for this when you can get credit reports for free.

With Experian’s service, you can get notified when new inquiries, new accounts, fraud alerts and personal information or public record updates are detected on your Experian credit report. Plus, if you see inaccuracies on your credit report, you can use the Experian dispute center to submit and track your disputes online.

myEquifax

Equifax now offers two free Equifax credit reports per year with myEquifax. You need to create an account to access these credit reports. And if you sign up for Equifax Core Credit, you can receive an updated Equifax credit report every month.

Learn more: Find out how to get your free credit score and check your odds of getting approved for a credit card without hurting your credit score.

Information about the Capital One® Venture® Rewards Credit Card and Capital One® Savor® Cash Rewards Credit Card has been collected independently by CNBC and has not been reviewed or provided by the issuer of the cards prior to publication.


Company: cnbc, Activity: cnbc, Date: 2019-12-06  Authors: alexandria white
Keywords: news, cnbc, companies, experian, access, card, credit, reports, capital, transunion, report, free, equifax


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Cramer: Like or hate Trump, ‘these are the best numbers of our lives’ on jobs

CNBC’s Jim Cramer said Friday no matter your view on President Donald Trump there’s no denying we’re living in the best labor market in more than a generation. “You can’t contradict that these are the best numbers of our lives. You can’t,” Cramer, 64, said following the government report showing the U.S. economy created a better-than-expected 266,000 nonfarm jobs in November, with the unemployment rate dipping to 3.5%, matching a 50-year low. Referring to Trump, Cramer said Friday on “Squawk Box


CNBC’s Jim Cramer said Friday no matter your view on President Donald Trump there’s no denying we’re living in the best labor market in more than a generation.
“You can’t contradict that these are the best numbers of our lives.
You can’t,” Cramer, 64, said following the government report showing the U.S. economy created a better-than-expected 266,000 nonfarm jobs in November, with the unemployment rate dipping to 3.5%, matching a 50-year low.
Referring to Trump, Cramer said Friday on “Squawk Box
Cramer: Like or hate Trump, ‘these are the best numbers of our lives’ on jobs Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-06  Authors: matthew j belvedere
Keywords: news, cnbc, companies, rate, best, dont, president, numbers, unemployment, report, cramer, jobs, hate, lives, trump, number


Cramer: Like or hate Trump, 'these are the best numbers of our lives' on jobs

CNBC’s Jim Cramer said Friday no matter your view on President Donald Trump there’s no denying we’re living in the best labor market in more than a generation.

“You can’t contradict that these are the best numbers of our lives. You can’t,” Cramer, 64, said following the government report showing the U.S. economy created a better-than-expected 266,000 nonfarm jobs in November, with the unemployment rate dipping to 3.5%, matching a 50-year low. Economists had expected the jobless rate to hold steady at 3.6% last month.

“People don’t want to say good things” about the economy, said Cramer, echoing comments he made Thursday evening on “Mad Money,” telling investors: “Don’t let the armageddonists and the negativists and the hucksters scare you away from owning stocks.”

Referring to Trump, Cramer said Friday on “Squawk Box,” shortly after the jobs report was released, “It doesn’t matter whether you hate him or like him, these are real numbers.”

“This is the best number I’ve ever seen in my life,” Cramer said, zeroing in on the unemployment rate. “Fifty years ago, that number was a curse. Now it’s a blessing.” He added, “I don’t see inflation. I don’t see recession.”

Cramer said the strong U.S. job market is going to allow America to win the trade war with China. “The president can walk away from the table with this number.” He added: “In the end, the Chinese are going to have to put jobs here.”


Company: cnbc, Activity: cnbc, Date: 2019-12-06  Authors: matthew j belvedere
Keywords: news, cnbc, companies, rate, best, dont, president, numbers, unemployment, report, cramer, jobs, hate, lives, trump, number


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Watch CNBC’s full interview with Larry Kudlow after a robust November jobs report

Watch CNBC’s full interview with Larry Kudlow after a robust November jobs reportWhite House economic advisor Larry Kudlow joins “Squawk on the Street” for the first White House reaction to the November jobs report.


Watch CNBC’s full interview with Larry Kudlow after a robust November jobs reportWhite House economic advisor Larry Kudlow joins “Squawk on the Street” for the first White House reaction to the November jobs report.
Watch CNBC’s full interview with Larry Kudlow after a robust November jobs report Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-06
Keywords: news, cnbc, companies, cnbcs, interview, kudlow, street, larry, house, reportwhite, white, report, watch, squawk, jobs, robust


Watch CNBC's full interview with Larry Kudlow after a robust November jobs report

Watch CNBC’s full interview with Larry Kudlow after a robust November jobs report

White House economic advisor Larry Kudlow joins “Squawk on the Street” for the first White House reaction to the November jobs report.


Company: cnbc, Activity: cnbc, Date: 2019-12-06
Keywords: news, cnbc, companies, cnbcs, interview, kudlow, street, larry, house, reportwhite, white, report, watch, squawk, jobs, robust


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Blowout jobs report means Fed may sound even less likely to move on interest rates

November’s surprisingly strong jobs report makes it less likely the Fed will move to cut interest rates, and it could sound even more hawkish when it meets next week. A so-called hawkish Fed is one that is more likely to move to tighten policy than make it looser by cutting interest rates or taking other measures. Stocks jumped and bond yields initially rose after the jobs report was released. Swonk said the jobs report showed the impact from trade, and that will be an important topic for the Fe


November’s surprisingly strong jobs report makes it less likely the Fed will move to cut interest rates, and it could sound even more hawkish when it meets next week.
A so-called hawkish Fed is one that is more likely to move to tighten policy than make it looser by cutting interest rates or taking other measures.
Stocks jumped and bond yields initially rose after the jobs report was released.
Swonk said the jobs report showed the impact from trade, and that will be an important topic for the Fe
Blowout jobs report means Fed may sound even less likely to move on interest rates Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-06  Authors: patti domm
Keywords: news, cnbc, companies, blowout, meeting, means, likely, market, fed, trade, sound, cut, rates, think, interest, report, jobs


Blowout jobs report means Fed may sound even less likely to move on interest rates

A hiring sign is displayed in a business window along a shopping street in lower Manhattan on July 05, 2019 in New York City.

November’s surprisingly strong jobs report makes it less likely the Fed will move to cut interest rates, and it could sound even more hawkish when it meets next week.

A so-called hawkish Fed is one that is more likely to move to tighten policy than make it looser by cutting interest rates or taking other measures. After three cuts this year, the Fed has signaled a neutral stance, where it is on hold but watching economic data.

The 266,000 jobs added in November is an important number since it defies expectations, at least for one month, that the labor market is slowing down. The report was much better than the 187,000 jobs expected by economists.

The end of the GM strike helped inflate the number, with 41,300 jobs added in motor vehicles and parts, but the overall gain in payrolls was still about 100,000 better than expected by many economists. Manufacturing gained 54,000 overall.

“The bottom line is the labor market is cooking. It clearly says the Fed should not do anything more. The Fed can now sit back on the shelf, not have to worry about having to be pestered about lower rates,” said Ward McCarthy, chief financial economist at Jefferies.

Stocks jumped and bond yields initially rose after the jobs report was released. The fed funds futures market moved to erase one rate cut that was priced in for next year, and the market was pricing just about 20 basis points of one quarter point cut in morning trading, according to Michael Schumacher, director of rates at Wells Fargo Securities.

“The Fed was made more of a sideshow with this number,” said Schumacher. “You think back to [Fed Chairman Jerome] Powell’s comments of the last month or two. It seems to me he doesn’t want to cut again. This takes away a little more impetus to cut.”

The focus of the market in the week ahead is likely to be more riveted on trade than the Fed, because of President Donald Trump’s looming Dec. 15 deadline on $156 billion in new tariffs on China, if there’s no trade deal.

Strategists expect the Fed to leave its economic forecasts and interest rate outlook little changed when it releases new projections after its Wednesday meeting. The Fed has emphasized that it is on hold as long as the economy continues to show a moderate pace of growth and low inflation.

“They’re pretty comfortable where things are at, and as long as we get a trade truce, they’re fine,” said Diane Swonk, chief economist at Grant Thornton. “There were people who wanted to sound a lot more hawkish at that last meeting. They did get two dissenters not wanting to cut rates further and many presidents going into the meeting saying we didn’t need an additional cut.”

Swonk said the jobs report showed the impact from trade, and that will be an important topic for the Fed. The gain in manufacturing, an area hit by trade wars, is still lagging, with most of the gains coming from the GM workers.

“Forty percent of the gains were in health care and leisure and hospitality, with food services driving it. Anything not affected by trade is holding up,” she said, but she added that retail is weak as online retail continues to take jobs from brick-and-mortar stores.

Ian Lyngen, head of fixed income strategy at BMO, said while it is unlikely, the strong jobs report has raised the question of whether the Fed would actually consider raising interest rates next year.

“I still think they cannot hike as long as the labor market is strong and growth is okay, but they don’t have inflation,” said Lyngen. “Inflation is a bigger deal to this Fed than what’s going on in a very tight labor market.”

Swonk said the Fed is still more likely to move to cut than raise interest rates.

“I think they will wait and see. I think much depends now whether the tariffs are rolled back. The biggest issue for the Fed is do we get more of a detente in the trade war that allows them to firmly stand on the sidelines,” Swonk said.

John Briggs, NatWest Markets head of strategy, said traders were already expecting a hawkish Fed at the meeting next week because they had expected no change in the Fed’s rate cut forecast. Now, the strong jobs number could make the Fed’s tone sound even more so, when Powell briefs the media after the meeting Wednesday afternoon.

“We expect a good holiday season, and the job market just continues to power ahead and support the consumer,” said Briggs. “That’s been the story of 2019, and we’re finishing with the same theme — weak manufacturing and a resilient consumer.” Powell should reinforce that message.


Company: cnbc, Activity: cnbc, Date: 2019-12-06  Authors: patti domm
Keywords: news, cnbc, companies, blowout, meeting, means, likely, market, fed, trade, sound, cut, rates, think, interest, report, jobs


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

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


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

The IRS has a new tax form out and wants to know about your cryptocurrency

eclipse_images | E+ | Getty ImagesTax season is still months away, but the IRS will want to know about your cryptocurrency holdings. This is the agency’s latest effort to gather additional information on taxpayers’ virtual currency holdings. Varying tax treatmentsThe Internal Revenue Service (IRS) headquarters in Washington, D.C. Janhvi Bhojwani | CNBCIf you sold your cryptocurrency, you need to report the transaction. Cryptocurrency you receive from an employer is subject to federal income tax


eclipse_images | E+ | Getty ImagesTax season is still months away, but the IRS will want to know about your cryptocurrency holdings.
This is the agency’s latest effort to gather additional information on taxpayers’ virtual currency holdings.
Varying tax treatmentsThe Internal Revenue Service (IRS) headquarters in Washington, D.C. Janhvi Bhojwani | CNBCIf you sold your cryptocurrency, you need to report the transaction.
Cryptocurrency you receive from an employer is subject to federal income tax
The IRS has a new tax form out and wants to know about your cryptocurrency Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-06  Authors: darla mercado
Keywords: news, cnbc, companies, virtual, taxpayers, taxes, form, know, report, question, irs, taxpayer, currency, wants, tax, cryptocurrency


The IRS has a new tax form out and wants to know about your cryptocurrency

eclipse_images | E+ | Getty Images

Tax season is still months away, but the IRS will want to know about your cryptocurrency holdings. The IRS just released a new Schedule 1 for the 2019 tax season, spelling out the details on above-the-line deductions, including the tax break for student loan interest and health savings account contributions. Eagle-eyed taxpayers will notice that the IRS threw in an extra question on the form: “At any time during 2019, did you receive, sell, send, exchange or otherwise acquire any financial interest in any virtual currency?” This is the agency’s latest effort to gather additional information on taxpayers’ virtual currency holdings. See below for the form

“The biggest thing is that the IRS is asking this for a reason, and my question is how much have you increased your audit risk by checking ‘Yes’ in response?” asked Jeffrey Levine, CPA and director of financial planning at BluePrint Wealth Alliance in Garden City, New York. The inquiry itself is a vague one, experts said. “As a taxpayer myself, I find this question very frustrating because it isn’t clear,” said Sarah-Jane Morin, partner at Morgan Lewis in San Francisco. Moving your own virtual currency from one crypto wallet to another, for instance, could be considered “sending,” she said “The most conservative approach that a taxpayer can take is to consider any interaction you’ve had with virtual currency and whether there’s any way this can fall under this very broad list of what you could’ve engaged in during 2019,” said Morin. Indeed, the IRS has signaled that it would be taking a closer look at cryptocurrency. Back in July, the agency announced it was sending letters to more than 10,000 taxpayers with virtual currency transactions who may have failed to report income and pay taxes owed. Here are the tax basics on cryptocurrency.

Varying tax treatments

The Internal Revenue Service (IRS) headquarters in Washington, D.C. Janhvi Bhojwani | CNBC

If you sold your cryptocurrency, you need to report the transaction. If you wound up with a capital gain, you must pay the appropriate tax. Cryptocurrency you receive from an employer is subject to federal income tax withholding, FICA tax and federal unemployment taxes, just like wages. These should be reported on your Form W-2, the IRS said. Meanwhile, independent contractors who are paid in virtual currency must pay self-employment taxes. For those who mine cryptocurrency, the fair market value of it as of the day of receipt is included in your gross income, according to IRS guidance.

Failure to properly report these transactions can be costly: You may be audited and held liable for penalties and interest. In the most extreme cases, you could face prison time and a fine of up to $250,000. “A taxpayer who is investing in virtual currency should have a system for tracking the purchase and selling price of the assets,” said April Walker, lead manager for tax practice and ethics at the American Institute of CPAs. “For tax purposes, the virtual currency is treated as property, similar to a security,” she said. “Therefore, taxpayers should maintain cost records similar to the way records are kept for stocks and securities, although there will be no monthly statements.”

Following basis

Luc MacGregor | Bloomberg | Getty Images


Company: cnbc, Activity: cnbc, Date: 2019-12-06  Authors: darla mercado
Keywords: news, cnbc, companies, virtual, taxpayers, taxes, form, know, report, question, irs, taxpayer, currency, wants, tax, cryptocurrency


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Stocks surge on strong jobs report—what 5 pros see ahead for the US economy

A stronger-than-expected November U.S. jobs report sent stocks soaring Friday, with the Dow Jones Industrial Average rallying over 300 points intraday on word that the economy added 266,000 jobs last month, mainly in education and manufacturing. Economic and market professionals largely see the results as yet another catalyst for the U.S. stock market’s record bull run. Here’s what five of them — two economists, two strategists and one investment chief — see ahead for stocks. You saw the real we


A stronger-than-expected November U.S. jobs report sent stocks soaring Friday, with the Dow Jones Industrial Average rallying over 300 points intraday on word that the economy added 266,000 jobs last month, mainly in education and manufacturing.
Economic and market professionals largely see the results as yet another catalyst for the U.S. stock market’s record bull run.
Here’s what five of them — two economists, two strategists and one investment chief — see ahead for stocks.
You saw the real we
Stocks surge on strong jobs report—what 5 pros see ahead for the US economy Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-06  Authors: lizzy gurdus, thomas franck
Keywords: news, cnbc, companies, long, strong, economy, surge, recovery, stocks, weve, report, market, think, ahead, late, real, thats, jobs, investment, pros, reportwhat


Stocks surge on strong jobs report—what 5 pros see ahead for the US economy

Talk about getting the job done.

A stronger-than-expected November U.S. jobs report sent stocks soaring Friday, with the Dow Jones Industrial Average rallying over 300 points intraday on word that the economy added 266,000 jobs last month, mainly in education and manufacturing. Economists polled by Dow Jones expected closer to 187,000 nonfarm payroll additions.

Economic and market professionals largely see the results as yet another catalyst for the U.S. stock market’s record bull run.

Here’s what five of them — two economists, two strategists and one investment chief — see ahead for stocks.

Andy Green, managing director of economic policy at the Center for American Progress, was a bit less enthusiastic about the report than others on Wall Street:

“What we’re seeing is a result of a tremendous crash and a very long recovery. You saw the real wealth of the average middle-class American family collapse by 49% between 2001 and 2010. It was a deep financial crash and recession. It’s taken a long time to come back, and that’s great. But the real point is this recovery is an Obama-Yellen recovery. It is in spite of everything that [President Donald] Trump is doing, not because of it. If it were because of it, we would see higher gross private investment. … I think there’s a lot of caution signs out there, and so I obviously am not quite as rosy as … others.”

Douglas Holtz-Eakin, president of the American Action Forum, figured the U.S. could do “even better” in terms of growth:

“If you take a look at our best indicator of wage gains, which is the employment cost index, which has both benefits and cash compensation, that’s rising, in real terms, at about 1.1%. That’s about the rate of productivity growth, that’s exactly what you would expect, and it’s 50% higher than it was in 2016. And, hopefully, it will get stronger. Everyone, I think, would agree: We can do even better. This is a good report; we could do better.”

J.P. Morgan Asset Management’s Oksana Aronov, who leads the firm’s market strategy and alternative fixed income divisions, said this report didn’t give the Federal Reserve cause to alter its monetary policy just yet:

“We certainly have a long way to go until inflation sort of enters the narrative in any meaningful way, but I think that we’ve, as a marketplace, certainly in the fixed-income space, we’ve completely discounted it as a risk. … A stronger-than-expected print is not going to bring the Fed in, but it can change the expectations in a market where yields are so depressed.”

Jason Trennert, the co-founder, chairman and CEO of Strategas Research Partners, found the economic strength somewhat ironic:

“It’s just hard to get inflation, in my opinion. All of the inflation is in financial assets, it’s not in goods and services. … Listen, I think the irony here is that despite the duration of the expansion, which is the longest expansion in postwar history, we’re not particularly late in the business cycle. Everyone has been saying that we’re late in the cycle. This suggests that … we’re not as late in the cycle as we think.”

Lori Henel, State Street Global Advisors’ deputy global chief investment officer, predicted the market’s “upward momentum” would persist:

“It was pretty strong across the board, not just the print, but also some of the revisions from past months. Look, we’ve been pretty encouraged about the global economy all this year. We’ve seen improvement. Even in the dark of the summer when a lot of other people were thinking that we were going to go into recession, we sort of felt that the consumer and the services sector would help us kind of power through. And this is just validation that we are in a bit of an upward momentum here.”

Disclaimer


Company: cnbc, Activity: cnbc, Date: 2019-12-06  Authors: lizzy gurdus, thomas franck
Keywords: news, cnbc, companies, long, strong, economy, surge, recovery, stocks, weve, report, market, think, ahead, late, real, thats, jobs, investment, pros, reportwhat


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Treasury yields tick higher as investors await jobs report

ET, the benchmark 10-year Treasury note, which moves inversely to price, was higher at around 1.8034%, while the yield on the 30-year Treasury bond was also higher at around 2.2482%. 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 a


ET, the benchmark 10-year Treasury note, which moves inversely to price, was higher at around 1.8034%, while the yield on the 30-year Treasury bond was also higher at around 2.2482%.
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 a
Treasury yields tick higher as investors await jobs report Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-06  Authors: sam meredith
Keywords: news, cnbc, companies, trade, chinese, worlds, higher, jobs, upbeat, trumpon, tariffs, yield, washington, treasury, yields, investors, report, tick, await


Treasury yields tick higher as investors await jobs report

At 02:50 a.m. ET, the benchmark 10-year Treasury note, which moves inversely to price, was higher at around 1.8034%, while the yield on the 30-year Treasury bond was also higher at around 2.2482%.

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.


Company: cnbc, Activity: cnbc, Date: 2019-12-06  Authors: sam meredith
Keywords: news, cnbc, companies, trade, chinese, worlds, higher, jobs, upbeat, trumpon, tariffs, yield, washington, treasury, yields, investors, report, tick, await


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

November jobs report proves Fed was right to cut interest rates, former top official says

The strong November jobs report released Friday is evidence that the Federal Reserve has set interest rates correctly, former top Federal Reserve official Donald Kohn told CNBC. The Fed has cut interest rates three times this year, the most recent of which came in October, and lowered its benchmark funds rate by 25 basis points to a range of 1.5% to 1.75%. Fed Chairman Jerome Powell indicated then that the central bank was likely pausing its period of monetary easing. It’s doing great all by its


The strong November jobs report released Friday is evidence that the Federal Reserve has set interest rates correctly, former top Federal Reserve official Donald Kohn told CNBC.
The Fed has cut interest rates three times this year, the most recent of which came in October, and lowered its benchmark funds rate by 25 basis points to a range of 1.5% to 1.75%.
Fed Chairman Jerome Powell indicated then that the central bank was likely pausing its period of monetary easing.
It’s doing great all by its
November jobs report proves Fed was right to cut interest rates, former top official says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-06  Authors: kevin stankiewicz
Keywords: news, cnbc, companies, fed, vice, official, chairman, interest, cut, federal, proves, right, report, rates, economy, reserve, jobs, market, kohn


November jobs report proves Fed was right to cut interest rates, former top official says

The strong November jobs report released Friday is evidence that the Federal Reserve has set interest rates correctly, former top Federal Reserve official Donald Kohn told CNBC.

“If anything it reinforces their judgment that they’ve got policy in a good place … to support the continued good growth in the economy with very contained inflation,” Kohn, a former vice chairman of the Federal Reserve Board, said Friday on “Closing Bell.”

The Labor Department reported Friday that the U.S. economy added 266,000 jobs last month, significantly eclipsing estimates of 187,000 from economists polled by Dow Jones. The unemployment rate dropped back to 3.5%, equaling a mark earlier this year that was, at the time, the lowest since 1969.

The Fed has cut interest rates three times this year, the most recent of which came in October, and lowered its benchmark funds rate by 25 basis points to a range of 1.5% to 1.75%.

Fed Chairman Jerome Powell indicated then that the central bank was likely pausing its period of monetary easing. Fed officials have generally described the U.S. economy as strong, powered by robust consumer spending, despite external pressures such as the U.S.-China trade war and uncertainty around the United Kingdom’s departure from the European Union.

President Donald Trump, however, has continued to criticize Powell’s handling of interest rates, arguing that the Fed should lower them further to make the U.S. more competitive in a global market where some countries have negative rates.

Trump appointed Powell to lead the Fed, whose Federal Open Market Committee meets next week. It is widely expected to leave rates unchanged.

“They certainly don’t need to ease to help the labor market. It’s doing great all by itself,” said Kohn, who was vice chairman between 2006 and 2010.

Assuming no major economic event, Kohn said he expects the Fed to keep interest rates steady for the next year, arguing that would keep the economy in “decent shape.” If anything, he said, the next adjustment to rates would more likely be raising them by 25 basis points if inflation begins to pick up.

But, Kohn said, “Right now it looks like it’s a ways away.”


Company: cnbc, Activity: cnbc, Date: 2019-12-06  Authors: kevin stankiewicz
Keywords: news, cnbc, companies, fed, vice, official, chairman, interest, cut, federal, proves, right, report, rates, economy, reserve, jobs, market, kohn


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post