The world’s largest wealth fund picked up $22 billion worth of stocks during 2018 rout

The world’s biggest sovereign wealth fund went on a stock buying spree during the market turmoil at the end of 2018. Norges Bank, which manages Norway’s $1 trillion oil-funded wealth pot, said it bought 185 billion crowns ($21.7 billion) worth of equities, with the bulk of purchases coming in November and December. During 2018, equity investments for the fund returned a loss of 9.5 percent, while unlisted real estate investments gained 7.5 percent, and fixed-income investments returned 0.6 perce


The world’s biggest sovereign wealth fund went on a stock buying spree during the market turmoil at the end of 2018. Norges Bank, which manages Norway’s $1 trillion oil-funded wealth pot, said it bought 185 billion crowns ($21.7 billion) worth of equities, with the bulk of purchases coming in November and December. During 2018, equity investments for the fund returned a loss of 9.5 percent, while unlisted real estate investments gained 7.5 percent, and fixed-income investments returned 0.6 perce
The world’s largest wealth fund picked up $22 billion worth of stocks during 2018 rout Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-27  Authors: david reid, krister soerboe bloomberg, bloomberg, getty images
Keywords: news, cnbc, companies, worlds, worth, billion, market, 2018, norges, rout, wealth, picked, bank, investments, value, stocks, largest, funds, 22, fund, equity


The world's largest wealth fund picked up $22 billion worth of stocks during 2018 rout

The world’s biggest sovereign wealth fund went on a stock buying spree during the market turmoil at the end of 2018.

Norges Bank, which manages Norway’s $1 trillion oil-funded wealth pot, said it bought 185 billion crowns ($21.7 billion) worth of equities, with the bulk of purchases coming in November and December.

The U.S. stock market had its worst December since the Great Depression as investors feared trade tensions with China and rate hikes by the Federal Reserve.

Despite the Norges Bank purchases, the fund’s overall market value dipped over the course of 2018 by 6.1 percent, marking a steep reverse from the 13.7 percent growth witnessed in 2017.

“This is the first time that the fund has had a considerable decline in value,” CEO Yngve Slyngstad told a news conference on Wednesday. “The only other time was a slight decline in 2002.”

The bank said the fund’s market value was $967 million at 31 December 2018. On the same day, 66.3 percent was invested in equities, 3 percent in unlisted real estate and 30.7 percent in fixed income.

In 2017, Norges Bank said it intended to raise its equity allocation over time to 70 percent.

During 2018, equity investments for the fund returned a loss of 9.5 percent, while unlisted real estate investments gained 7.5 percent, and fixed-income investments returned 0.6 percent.

At the end of 2018, the fund’s biggest equity holdings were in Microsoft ($7.5 billion), Apple ($7.3 billion), Alphabet ($6.7 billion), Amazon ($6.4 billion), Nestle ($6.3 billion) and Royal Dutch Shell ($6 billion).

After a strong start to 2019 for stocks, the Norges Bank website said the fund is currently valued at $1.03 trillion.


Company: cnbc, Activity: cnbc, Date: 2019-02-27  Authors: david reid, krister soerboe bloomberg, bloomberg, getty images
Keywords: news, cnbc, companies, worlds, worth, billion, market, 2018, norges, rout, wealth, picked, bank, investments, value, stocks, largest, funds, 22, fund, equity


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Emerging markets set for a ‘rally’ after last year’s rout, says strategist

With the U.S. Federal Reserve pledging to be “patient” in future rate hikes, emerging markets should do better this year, and may in fact even have “a decent rally,” one strategist told CNBC on Monday. Last year, economic troubles in Argentina and Turkey, as well as the Fed tightening monetary policy, had caused a selloff in several emerging market currencies. Some emerging market stock indexes also saw steep declines. But those markets should turn around this year, said Mary Nicola, a G-10 fore


With the U.S. Federal Reserve pledging to be “patient” in future rate hikes, emerging markets should do better this year, and may in fact even have “a decent rally,” one strategist told CNBC on Monday. Last year, economic troubles in Argentina and Turkey, as well as the Fed tightening monetary policy, had caused a selloff in several emerging market currencies. Some emerging market stock indexes also saw steep declines. But those markets should turn around this year, said Mary Nicola, a G-10 fore
Emerging markets set for a ‘rally’ after last year’s rout, says strategist Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: weizhen tan, -mary nicola, asian fixed income strategist at eastspring invest
Keywords: news, cnbc, companies, rout, market, rally, set, hikes, markets, saw, patient, emerging, strategist, told, em, fed


Emerging markets set for a 'rally' after last year's rout, says strategist

With the U.S. Federal Reserve pledging to be “patient” in future rate hikes, emerging markets should do better this year, and may in fact even have “a decent rally,” one strategist told CNBC on Monday.

Last year, economic troubles in Argentina and Turkey, as well as the Fed tightening monetary policy, had caused a selloff in several emerging market currencies. Some emerging market stock indexes also saw steep declines. Rising interest rates stateside make it harder for emerging economies to service their U.S-dollar debt.

But those markets should turn around this year, said Mary Nicola, a G-10 foreign exchange and Asian fixed income strategist at Eastspring Investments.

“Now that the Fed is going to be patient, we think that EM has a bit to go. If you look at what we saw last year in terms of emerging markets, the EM rout had much to do with the fact that the Fed was hiking,” she told CNBC’s “Squawk Box” on Monday. “Now that the Fed hikes are off the table for a little bit, and the Fed can afford to be patient, EM funding conditions won’t be as tight as it was before.”


Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: weizhen tan, -mary nicola, asian fixed income strategist at eastspring invest
Keywords: news, cnbc, companies, rout, market, rally, set, hikes, markets, saw, patient, emerging, strategist, told, em, fed


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Japanese stocks partially rebound from Christmas Day rout

Japanese stocks saw gains on Wednesday following a Christmas Day plunge of both the Nikkei 225 and Topix. The Nikkei 225 gained 0.89 percent to close higher at 19,327.06, while the Topix index saw gains of 1.12 percent to finish its trading day at 1,431.47. The broader Topix index also ended more than 4.8 percent lower. The mainland Chinese markets, watched in relation to the trade spat between Beijing and Washington, slipped on the day. The Shenzhen composite also slipped 0.42 percent to close


Japanese stocks saw gains on Wednesday following a Christmas Day plunge of both the Nikkei 225 and Topix. The Nikkei 225 gained 0.89 percent to close higher at 19,327.06, while the Topix index saw gains of 1.12 percent to finish its trading day at 1,431.47. The broader Topix index also ended more than 4.8 percent lower. The mainland Chinese markets, watched in relation to the trade spat between Beijing and Washington, slipped on the day. The Shenzhen composite also slipped 0.42 percent to close
Japanese stocks partially rebound from Christmas Day rout Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-26  Authors: eustance huang
Keywords: news, cnbc, companies, partially, saw, day, nikkei, shenzhen, shares, rebound, rout, close, slipped, trading, index, christmas, topix, stocks, japanese


Japanese stocks partially rebound from Christmas Day rout

Japanese stocks saw gains on Wednesday following a Christmas Day plunge of both the Nikkei 225 and Topix.

The Nikkei 225 gained 0.89 percent to close higher at 19,327.06, while the Topix index saw gains of 1.12 percent to finish its trading day at 1,431.47. Shares of index heavyweight Fast Retailing, the company behind the Uniqlo chain of apparel stores, bucked the overall positive trend in Japan as they slipped 0.92 percent on the day.

The moves came after the share average plummeted around 5 percent on Tuesday, putting the index well into bear market territory as it was more than 20 percent off its high in October. The broader Topix index also ended more than 4.8 percent lower.

Over in South Korea, however, the Kospi slipped 1.31 percent to close at 2,028.01 as shares of industry heavyweight Samsung Electronics shed 1.16 percent.

The mainland Chinese markets, watched in relation to the trade spat between Beijing and Washington, slipped on the day. The Shanghai composite fell around 0.26 percent to close at about 2,498.29. The Shenzhen composite also slipped 0.42 percent to close at about 1,279.79, and the Shenzhen component slipped 0.584 percent to finish its trading day at around 7,289.55.

The Australian and Hong Kong stock markets were closed for a public holiday.


Company: cnbc, Activity: cnbc, Date: 2018-12-26  Authors: eustance huang
Keywords: news, cnbc, companies, partially, saw, day, nikkei, shenzhen, shares, rebound, rout, close, slipped, trading, index, christmas, topix, stocks, japanese


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BOJ’s Kuroda blames stock rout on heightening global uncertainty

Bank of Japan Governor Haruhiko Kuroda blamed recent instability in stock markets on growing global economic uncertainties, but said the world’s third-largest economy was resilient enough to withstand any external shocks. But it’s necessary to bear in mind that uncertainties have recently increased with respect to developments in overseas economies,” Kuroda said on Wednesday. The fluctuations are partly attributable to changes in perception of various risks surrounding the global economy,” he in


Bank of Japan Governor Haruhiko Kuroda blamed recent instability in stock markets on growing global economic uncertainties, but said the world’s third-largest economy was resilient enough to withstand any external shocks. But it’s necessary to bear in mind that uncertainties have recently increased with respect to developments in overseas economies,” Kuroda said on Wednesday. The fluctuations are partly attributable to changes in perception of various risks surrounding the global economy,” he in
BOJ’s Kuroda blames stock rout on heightening global uncertainty Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-26  Authors: akio kon, bloomberg, getty images
Keywords: news, cnbc, companies, stock, resilient, bojs, uncertainties, policy, global, heightening, kuroda, economy, rates, blames, rout, yield, uncertainty, risks


BOJ's Kuroda blames stock rout on heightening global uncertainty

Bank of Japan Governor Haruhiko Kuroda blamed recent instability in stock markets on growing global economic uncertainties, but said the world’s third-largest economy was resilient enough to withstand any external shocks.

Conceding that it was taking longer than expected to achieve his 2 percent inflation target, Kuroda said policy makers needed to be vigilant to heightening external risks such as protectionism and slowing growth in China.

“Japan’s economy is likely to continue expanding moderately. But it’s necessary to bear in mind that uncertainties have recently increased with respect to developments in overseas economies,” Kuroda said on Wednesday.

“The stock market has been somewhat unstable. The fluctuations are partly attributable to changes in perception of various risks surrounding the global economy,” he in a speech to an annual meeting of Japan’s business lobby Keidanren.

Kuroda, however, said Japanese and global economies are “resilient enough to endure any shock” thanks to solid U.S. economic growth and efforts by companies to boost profitability.

He also said the BOJ must be mindful of the rising costs of prolonged monetary easing, such as the chance years of near-zero rates could hurt financial institutions’ profits and discourage them from boosting lending.

“In complex times like now, what’s required is to persistently continue with the current powerful easing while weighing the benefits and costs of our policy in a balanced manner,” he said.

Under a policy dubbed yield curve control, the BOJ guides short-term rates at minus 0.1 percent and the 10-year bond yield around zero percent.


Company: cnbc, Activity: cnbc, Date: 2018-12-26  Authors: akio kon, bloomberg, getty images
Keywords: news, cnbc, companies, stock, resilient, bojs, uncertainties, policy, global, heightening, kuroda, economy, rates, blames, rout, yield, uncertainty, risks


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US futures point to partial rebound at Friday’s open after two-day rout

U.S. futures on Thursday evening stateside pointed to a limited recovery for stocks on Wall Street at Friday’s open, a day after the major indexes saw a tumble for the second day in a row. Dow Jones Industrial Average futures shed 24 points, but implied an opening gain of 113.40 for the Dow at Friday’s open, as of 1:21 a.m. Both the S&P 500 and Nasdaq futures also pointed to opening gains for the other two major stock indexes stateside. On Thursday, the Dow Jones Industrial Average dropped 464.0


U.S. futures on Thursday evening stateside pointed to a limited recovery for stocks on Wall Street at Friday’s open, a day after the major indexes saw a tumble for the second day in a row. Dow Jones Industrial Average futures shed 24 points, but implied an opening gain of 113.40 for the Dow at Friday’s open, as of 1:21 a.m. Both the S&P 500 and Nasdaq futures also pointed to opening gains for the other two major stock indexes stateside. On Thursday, the Dow Jones Industrial Average dropped 464.0
US futures point to partial rebound at Friday’s open after two-day rout Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-21  Authors: eustance huang
Keywords: news, cnbc, companies, futures, points, nasdaq, shed, pointed, day, major, twoday, rout, open, point, rebound, fridays, sp, opening, partial


US futures point to partial rebound at Friday's open after two-day rout

U.S. futures on Thursday evening stateside pointed to a limited recovery for stocks on Wall Street at Friday’s open, a day after the major indexes saw a tumble for the second day in a row.

Dow Jones Industrial Average futures shed 24 points, but implied an opening gain of 113.40 for the Dow at Friday’s open, as of 1:21 a.m. ET Friday. Both the S&P 500 and Nasdaq futures also pointed to opening gains for the other two major stock indexes stateside.

On Thursday, the Dow Jones Industrial Average dropped 464.06 points to close at 22,859.6 — bringing its two-day declines to more than 800 points and its 5-day losses to more than 1,700 points. The S&P 500 shed 1.58 percent to end the trading day at 2,467.41 while the Nasdaq Composite fell 1.6 percent and closed at 6,528.41 after dipping into bear market territory during the session.

The Cboe Volatility Index — one of the market’s best gauges of marketplace fear — rose above 30.


Company: cnbc, Activity: cnbc, Date: 2018-12-21  Authors: eustance huang
Keywords: news, cnbc, companies, futures, points, nasdaq, shed, pointed, day, major, twoday, rout, open, point, rebound, fridays, sp, opening, partial


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Stocks look to be in for more pain after Fed-day rout: ‘The market is in no man’s land’

The S&P 500 lost 1.5 percent Wednesday to 2,506 and is nearly 15 percent off its September high. About 85 percent of the S&P 500 stocks have seen a correction of 10 percent or more, while 60 are in a bear market, meaning down 20 percent. Just last Friday the S&P 500 broke the neckline of a bearish head and shoulders top pattern, signaling more selling head. Redler said the best thing for the market would be a scary gap down for stocks Thursday because every morning this week , stocks opened high


The S&P 500 lost 1.5 percent Wednesday to 2,506 and is nearly 15 percent off its September high. About 85 percent of the S&P 500 stocks have seen a correction of 10 percent or more, while 60 are in a bear market, meaning down 20 percent. Just last Friday the S&P 500 broke the neckline of a bearish head and shoulders top pattern, signaling more selling head. Redler said the best thing for the market would be a scary gap down for stocks Thursday because every morning this week , stocks opened high
Stocks look to be in for more pain after Fed-day rout: ‘The market is in no man’s land’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-19  Authors: patti domm, spencer platt, getty images
Keywords: news, cnbc, companies, selling, look, fedday, wald, low, pain, 500, week, rout, broke, oversold, market, land, sp, stocks, mans


Stocks look to be in for more pain after Fed-day rout: 'The market is in no man's land'

Stocks are extremely oversold, but investors still seem bent on selling after the Federal Reserve disappointed markets with a less dovish message than expected.

“The bears have been writing the script,” said Scott Redler, partner with T3Live.com.

The S&P 500 lost 1.5 percent Wednesday to 2,506 and is nearly 15 percent off its September high. About 85 percent of the S&P 500 stocks have seen a correction of 10 percent or more, while 60 are in a bear market, meaning down 20 percent.

“At this point the market is in no man’s land. It broke 2,600, and it broke 2,530, the February low, where we briefly bounced earlier this week. We closed below that today, and there’s nothing bullish about the tape except that we’re extremely oversold,” he said. “The only thing that’s positive is that there’s zero hope.”

Redler, who follows short-term technicals, said the market has been sending negative technical signals for weeks, starting with a death cross in the small cap Russell 2000 in late November.

Just last Friday the S&P 500 broke the neckline of a bearish head and shoulders top pattern, signaling more selling head.

Ari Wald, Oppenheimer technical strategist, said the negative action this week is the result of the market’s failure to find a bottom in October and November.

“This restarts the bottoming process. This was another boom, and now we need the whimper,” he said. Wald said as of Wednesday, just 17 percent of stocks in the S&P 500 were above their 200-day moving averages, close to levels from 2016 when there were as few as 12 percent.

Wald said that was an unusually low number.”The forward returns, when it gets that low, tend to be strong looking out six to 12 months but not necessarily over the next one to three months,” said Wald.

Redler said the best thing for the market would be a scary gap down for stocks Thursday because every morning this week , stocks opened higher and investors sold the early morning strength.

The next level is he is watching is 2,450 on the S&P 500, though the head and shoulders top pattern pointed to a possible decline to 2,300.

“You could get a rally first, but I put a very big high probability that we see 2,250 to 2,300 before you would want to put long-term money to work,” Redler said.

Wald said the market looks like it’s in for a period of selling. It’s very oversold, good for a longer term investor, but it doesn’t mean we’re setting up for an imminent recovery,” he said.


Company: cnbc, Activity: cnbc, Date: 2018-12-19  Authors: patti domm, spencer platt, getty images
Keywords: news, cnbc, companies, selling, look, fedday, wald, low, pain, 500, week, rout, broke, oversold, market, land, sp, stocks, mans


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Huawei CFO arrest hits Asian tech stocks hard; broader markets sell-off as global rout continues

Technology stocks across the region were under pressure, including many Huawei partners and suppliers. Taiwan’s major tech names also struggled: Catcher Technology fell 9.89 percent, Taiwan Semiconductor was down 2.65 percent, Largan Precision lost 9.94 percent and iPhone assembler Hon Hai dropped 3.63 percent. “Huawei equipment is more widely used (than ZTE is) by carriers around the world, including in Europe and Africa,” they said. ZTE shares listed in Hong Kong were down 5.94 percent on the


Technology stocks across the region were under pressure, including many Huawei partners and suppliers. Taiwan’s major tech names also struggled: Catcher Technology fell 9.89 percent, Taiwan Semiconductor was down 2.65 percent, Largan Precision lost 9.94 percent and iPhone assembler Hon Hai dropped 3.63 percent. “Huawei equipment is more widely used (than ZTE is) by carriers around the world, including in Europe and Africa,” they said. ZTE shares listed in Hong Kong were down 5.94 percent on the
Huawei CFO arrest hits Asian tech stocks hard; broader markets sell-off as global rout continues Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-06  Authors: saheli roy choudhury, eustance huang, miguel candela, sopa images, lightrocket, getty images
Keywords: news, cnbc, companies, rout, continues, shares, stocks, fell, markets, hits, equipment, technology, major, tech, softbank, represents, selloff, hard, huawei, global, zte


Huawei CFO arrest hits Asian tech stocks hard; broader markets sell-off as global rout continues

Technology stocks across the region were under pressure, including many Huawei partners and suppliers.

Chipmaker Samsung tumbled 2.29 percent, Sunny Optical, which makes some of the lenses for Huawei phones, fell 5.47 percent and AAC Technologies declined 5.59 percent on the day. Chinasoft International, where Huawei is a strategic shareholder, dropped 11.71 percent.

Shares of Nikkei heavyweight SoftBank Group fell 4.93 percent. Last year, SoftBank and Huawei jointly demonstrated potential use of the next generation of high-speed mobile internet; SoftBank is taking its mobile unit public on Dec. 19.

The negative sentiment rippled through the broader Japanese tech sector, with shares of Tokyo Electron down 4.54 percent, Advantest falling 5.30 percent and TDK Corp dropping 6.64 percent.

Taiwan’s major tech names also struggled: Catcher Technology fell 9.89 percent, Taiwan Semiconductor was down 2.65 percent, Largan Precision lost 9.94 percent and iPhone assembler Hon Hai dropped 3.63 percent. Asia’s Apple suppliers, in general, saw Thursday declines.

Analysts at Jefferies pointed out that Huawei has a major global presence in various technology areas such as telecommunications equipment, semiconductors, smartphones and cloud computing. It also represents a major growth driver for many tech manufacturers.

Huawei’s Meng, who is the daughter of the company’s founder, faces extradition to the U.S., according to Canada’s Department of Justice.

While the arrest represents a new escalation in American efforts to hold Chinese companies accountable for violation of U.S. laws, it is likely to elicit an angry reaction from Beijing, according to Eurasia Group.

“The investigation of Huawei could be a prelude to further action against the firm and its senior officials,” the Eurasia Group analysts said, adding that if the U.S. places a sudden ban on Huawei equipment, like it did with ZTE, the impact would be much greater.

“Huawei equipment is more widely used (than ZTE is) by carriers around the world, including in Europe and Africa,” they said.

ZTE shares listed in Hong Kong were down 5.94 percent on the day.

Both Huawei and ZTE are restricted from selling telecoms equipment in the U.S. due to what the U.S. describes as national security concerns.


Company: cnbc, Activity: cnbc, Date: 2018-12-06  Authors: saheli roy choudhury, eustance huang, miguel candela, sopa images, lightrocket, getty images
Keywords: news, cnbc, companies, rout, continues, shares, stocks, fell, markets, hits, equipment, technology, major, tech, softbank, represents, selloff, hard, huawei, global, zte


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US futures point to slight recovery after Tuesday’s market rout

S&P 500 and Nasdaq 100 futures also pointed to slight gains. In after-hours trading, the SPDR S&P 500 ETF Trust (SPY) rose about 0.28 percent. The Dow Jones Industrial Average plunged 799.36 points earlier on Tuesday, while the S&P 500 dropped more than 3 percent. The CBOE Volatility Index, popularly known as the VIX, leaped about 26.16 percent to 20.74. The VIX measures implied volatility on S&P 500 index options.


S&P 500 and Nasdaq 100 futures also pointed to slight gains. In after-hours trading, the SPDR S&P 500 ETF Trust (SPY) rose about 0.28 percent. The Dow Jones Industrial Average plunged 799.36 points earlier on Tuesday, while the S&P 500 dropped more than 3 percent. The CBOE Volatility Index, popularly known as the VIX, leaped about 26.16 percent to 20.74. The VIX measures implied volatility on S&P 500 index options.
US futures point to slight recovery after Tuesday’s market rout Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-05  Authors: eustance huang
Keywords: news, cnbc, companies, tuesdays, point, sp, points, futures, 500, president, index, volatility, market, yield, nasdaq, rout, recovery, weekend, slight


US futures point to slight recovery after Tuesday's market rout

U.S. stock futures on Tuesday evening stateside pointed to a slight rebound from the steep losses seen in regular trading.

Dow Jones Industrial Average futures climbed 43 points, indicating a gain of 46.93 points at Thursday’s open as at 10:44 p.m. ET. S&P 500 and Nasdaq 100 futures also pointed to slight gains. The U.S. stock market will be closed on Wednesday out of respect for former President George H.W. Bush’s funeral.

In after-hours trading, the SPDR S&P 500 ETF Trust (SPY) rose about 0.28 percent. Meanwhile, the Invesco QQQ Trust — which tracks the Nasdaq 100 index — gained around 0.37 percent.

The Dow Jones Industrial Average plunged 799.36 points earlier on Tuesday, while the S&P 500 dropped more than 3 percent. The Nasdaq Composite, meanwhile, fell 3.8 percent to close in correction territory.

The yield on the three-year Treasury note surpassed its five-year counterpart on Monday. When a so-called yield curve inversion happens — short-term yields trading above longer-term rates — a recession could follow, though it is often years away after the signal triggers.

Stocks began falling to their lows of the day after Jeffrey Gundlach, CEO of Doubleline Capital, told Reuters this inversion signals that the economy “is poised to weaken.”

Some bond experts, however, have said it may not be time to panic yet.

While inversions have been reliable recession indicators in the past, the most important relationship — between the 3-month and 10-year government notes — is not inverted and thus hasn’t indicated the likelihood of a contraction ahead.

The market concerns were further exacerbated by confusion surrounding the agreement that was struck between U.S. President Donald Trump and Chinese President Xi Jinping over the weekend at the G-20 summit in Buenos Aires, Argentina.

The two economic powerhouses have been locked in an ongoing trade war, which has continued to rock global markets for much of 2018.

While the U.S. and China agreed over the weekend to hold off on any additional tariffs on each other’s goods, there have been conflicting messages coming from within the White House as well as differing opinions from Trump, Washington and Beijing over the actual details of the agreement.

The CBOE Volatility Index, popularly known as the VIX, leaped about 26.16 percent to 20.74. The VIX measures implied volatility on S&P 500 index options. It had earlier hit a high of 21.94 — its highest levels since Nov. 23 when it touched a high of 22.65.

— CNBC’s Fred Imbert and Jeff Cox contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2018-12-05  Authors: eustance huang
Keywords: news, cnbc, companies, tuesdays, point, sp, points, futures, 500, president, index, volatility, market, yield, nasdaq, rout, recovery, weekend, slight


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The FAANG stocks shed $140 billion in Tuesday’s market rout

In total, the so-called FAANG stocks — Facebook, Amazon, Apple, Netflix and Alphabet-owned Google — shed more than $140 billion in market value by the end of the trading Tuesday. Here’s how it shook out:Facebook fell 2.2 percent, losing $7.6 billion in implied market valueAmazon fell 5.9 percent, losing $50.8 billion in implied market valueApple fell 4.4 percent, losing $38.5 billion in implied market valueNetflix fell 5.2 percent, losing $6.5 billion in implied market valueAlphabet fell 4.8 per


In total, the so-called FAANG stocks — Facebook, Amazon, Apple, Netflix and Alphabet-owned Google — shed more than $140 billion in market value by the end of the trading Tuesday. Here’s how it shook out:Facebook fell 2.2 percent, losing $7.6 billion in implied market valueAmazon fell 5.9 percent, losing $50.8 billion in implied market valueApple fell 4.4 percent, losing $38.5 billion in implied market valueNetflix fell 5.2 percent, losing $6.5 billion in implied market valueAlphabet fell 4.8 per
The FAANG stocks shed $140 billion in Tuesday’s market rout Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-04  Authors: sara salinas, april greer, the washington post, getty images
Keywords: news, cnbc, companies, rout, faang, yeartodate, fell, apple, losing, netflix, 140, market, losses, billion, facebook, shed, tuesdays, implied, stocks


The FAANG stocks shed $140 billion in Tuesday's market rout

In total, the so-called FAANG stocks — Facebook, Amazon, Apple, Netflix and Alphabet-owned Google — shed more than $140 billion in market value by the end of the trading Tuesday.

Here’s how it shook out:

Facebook fell 2.2 percent, losing $7.6 billion in implied market value

Amazon fell 5.9 percent, losing $50.8 billion in implied market value

Apple fell 4.4 percent, losing $38.5 billion in implied market value

Netflix fell 5.2 percent, losing $6.5 billion in implied market value

Alphabet fell 4.8 percent, losing $37.5 billion in implied market value

The losses extend pain periods for Apple, which has seen downturn in recent weeks, and Facebook, which is suffering a down year on the heels of several scandals. Amazon and Netflix, though, are each up more than 40 percent year-to-date despite getting caught in the rout.

With Tuesday’s losses, Alphabet is hanging onto modest year-to-date gains, up just 0.8 percent in 2018.

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Company: cnbc, Activity: cnbc, Date: 2018-12-04  Authors: sara salinas, april greer, the washington post, getty images
Keywords: news, cnbc, companies, rout, faang, yeartodate, fell, apple, losing, netflix, 140, market, losses, billion, facebook, shed, tuesdays, implied, stocks


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A look at past declines in Apple’s stock indicates this rout has further to go

Sacconaghi looked at the last three times in the past decade when Apple’s stock has unperformed. Of the lessons to be learned from prior stock downturns, Sacconaghi said Apple’s stock is “typically anticipatory of estimate declines,” as well as has a high correlation to Wall Street’s “next-12-month EPS estimates.” “Perhaps most importantly, Apple’s stock price has historically bottomed only once sell-side EPS estimates have bottomed,” Sacconaghi said. “We should note that neither our current est


Sacconaghi looked at the last three times in the past decade when Apple’s stock has unperformed. Of the lessons to be learned from prior stock downturns, Sacconaghi said Apple’s stock is “typically anticipatory of estimate declines,” as well as has a high correlation to Wall Street’s “next-12-month EPS estimates.” “Perhaps most importantly, Apple’s stock price has historically bottomed only once sell-side EPS estimates have bottomed,” Sacconaghi said. “We should note that neither our current est
A look at past declines in Apple’s stock indicates this rout has further to go Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-28  Authors: michael sheetz, bernd thissen, afp, getty images
Keywords: news, cnbc, companies, rout, sacconaghi, look, declines, estimates, indicates, cycle, apples, past, stock, wall, earnings, current, iphone, streets


A look at past declines in Apple's stock indicates this rout has further to go

Apple shares have lost more than quarter of their value in less than two months, but one of Wall Street’s top analysts on the stock explained why history is against a turnaround any time soon.

“Sell-side estimates have only been revised downwards by -0.8% so far, and history suggests that the stock is unlikely to inflect until estimates stop coming down,” Bernstein’s Toni Sacconaghi said in a note to investors Wednesday.

Sacconaghi looked at the last three times in the past decade when Apple’s stock has unperformed. The three downturns Sacconaghi identified are tied to the life cycle of iPhone products: The iPhone 5, the iPhone 6S and the beginning of the iPhone X. Of the lessons to be learned from prior stock downturns, Sacconaghi said Apple’s stock is “typically anticipatory of estimate declines,” as well as has a high correlation to Wall Street’s “next-12-month EPS estimates.”

“Perhaps most importantly, Apple’s stock price has historically bottomed only once sell-side EPS estimates have bottomed,” Sacconaghi said.

Apple’s full year 2019 earnings are about $12.34 a share when comparing the current product cycle to the iPhone 6S cycle in 2016, according to Sacconaghi. Those earnings would be about 7 percent below Wall Street’s current consensus for next year, Sacconaghi said.

Bernstein’s analysis does not include any potential hits to Apple from tariffs. The company’s stock slid on Tuesday after President Donald Trump suggested the U.S. could place a 10 percent tariff on iPhones and laptops made in China.

“We should note that neither our current estimates nor our downside scenario incorporates any potential impact from tariffs,” Sacconaghi said.

Apple shares have fallen more than 20 percent this month as of Tuesday’s close of $174.24 a share.

Bottom line: Until analysts are done cutting their earnings expectations on the stock, expect more weakness.

WATCH: Apple’s stock is plunging – Here’s what six experts say investors should know


Company: cnbc, Activity: cnbc, Date: 2018-11-28  Authors: michael sheetz, bernd thissen, afp, getty images
Keywords: news, cnbc, companies, rout, sacconaghi, look, declines, estimates, indicates, cycle, apples, past, stock, wall, earnings, current, iphone, streets


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