China wants to pressure the US economy, but the finance sector is probably safe from Beijing

Technology, rare earth minerals and the education sector have been dragged into the scuffle between China and the U.S., but as Beijing considers more countermeasures, experts said America’s financial sector is unlikely to be a target. Speaking at the Institute of International Finance meeting in Tokyo, he said that any move to target financial services would be “unusual,” because the Chinese “need access to global financial markets.” Peterson said that the Chinese yuan, or the renminbi (RMB), wo


Technology, rare earth minerals and the education sector have been dragged into the scuffle between China and the U.S., but as Beijing considers more countermeasures, experts said America’s financial sector is unlikely to be a target. Speaking at the Institute of International Finance meeting in Tokyo, he said that any move to target financial services would be “unusual,” because the Chinese “need access to global financial markets.” Peterson said that the Chinese yuan, or the renminbi (RMB), wo
China wants to pressure the US economy, but the finance sector is probably safe from Beijing Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-07  Authors: weizhen tan
Keywords: news, cnbc, companies, financial, chinas, sector, trade, china, economy, global, safe, finance, wants, beijing, probably, chinese, markets, market, pressure, told


China wants to pressure the US economy, but the finance sector is probably safe from Beijing

Technology, rare earth minerals and the education sector have been dragged into the scuffle between China and the U.S., but as Beijing considers more countermeasures, experts said America’s financial sector is unlikely to be a target.

There’s just too much at stake for China in that area, they told CNBC this week, pointing to an ongoing drive in the country to open up the Chinese financial sector to global investors.

“We believe that the financial regulators (in China) … are looking at ways to really reform, make it more liquid, bring more transparency. We haven’t seen any shift in that attitude yet,” Douglas Peterson, president and chief executive at financial services and ratings giant S&P Global, told CNBC on Friday.

Speaking at the Institute of International Finance meeting in Tokyo, he said that any move to target financial services would be “unusual,” because the Chinese “need access to global financial markets.”

On Thursday, Tim Adams, who is president and chief executive of the IIF, a trade association, also expressed that sentiment.

“The Chinese government wants U.S. and European financial institutions — they are opening up the market. What I heard from Chinese authorities is … ‘we want the financial community to be here,'” he told CNBC.

Peterson said that the Chinese yuan, or the renminbi (RMB), would likely be a casualty of any move to clamp down on the financial sector.

“Clearly, one of their long term goals is to make their currency a larger, more dominant position in trade. They would like to have things like oil or certain types of commodities or goods priced in RMB,” he said. “In order to do that, they have to have a more active financial market, (to be) more engaged in the global financial market.”

Increasing overseas participation in yuan-denominated assets would help Beijing toward its goal of boosting international acceptance and use of the Chinese currency.

Increasingly, China’s markets have been opened up to global investors. Last year, Chinese A-shares — yuan-denominated stocks traded on the mainland — were included in the MSCI Emerging Markets Index.

This year, Chinese bonds were included in the widely followed Bloomberg Barclays index.

Those inclusions also bring billions of dollars into China’s markets. Analysts estimate that the full inclusion in the Bloomberg Barclays index will attract around $150 billion of foreign inflows into China’s roughly $13 trillion bond market, while the MSCI inclusion will also attract billions worth of inflows.

“There’s also very high demand from foreign investors for Chinese assets,” Peterson said. “So shutting down access to financial markets — I really don’t think it’s one of the measures they’re probably looking at very seriously.”

So far, other sectors have been implicated in trade skirmishes between the world’s two largest economies.

The U.S. put Chinese tech giant Huawei on a list that essentially prevents it from conducting business with American companies, while Chinese media warned that Beijing could cut off industrially significant rare earth minerals as a retaliatory measure in the escalating economic battle.

On Tuesday, China issued a warning to its citizens about working, studying and traveling in America, noting that the U.S. has recently placed certain restrictions on some Chinese student visas.


Company: cnbc, Activity: cnbc, Date: 2019-06-07  Authors: weizhen tan
Keywords: news, cnbc, companies, financial, chinas, sector, trade, china, economy, global, safe, finance, wants, beijing, probably, chinese, markets, market, pressure, told


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US services sector growth tops expectations

The U.S. services sector expanded at a faster rate than expected, according to data released Wednesday. The Institute for Supply Management’s non-manufacturing index rose to 56.9 in May from 55.5 in April. Business activity in the sector rose to 61.2 from 59.6 in April, its 118th straight month showing expansion. New orders in the services sector also grew at a faster rate in May relative to April. The 10-year yield recovered to trade at 2.1%.The services data was also a welcomed surprised afte


The U.S. services sector expanded at a faster rate than expected, according to data released Wednesday. The Institute for Supply Management’s non-manufacturing index rose to 56.9 in May from 55.5 in April. Business activity in the sector rose to 61.2 from 59.6 in April, its 118th straight month showing expansion. New orders in the services sector also grew at a faster rate in May relative to April. The 10-year yield recovered to trade at 2.1%.The services data was also a welcomed surprised afte
US services sector growth tops expectations Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-05  Authors: fred imbert
Keywords: news, cnbc, companies, rose, expectations, tops, expected, data, overall, services, growth, sector, supply, rate, remain, released


US services sector growth tops expectations

A waitress delivers a tray of food to customers at a Denny’s restaurant in New York.

The U.S. services sector expanded at a faster rate than expected, according to data released Wednesday.

The Institute for Supply Management’s non-manufacturing index rose to 56.9 in May from 55.5 in April. Economists polled by Refinitiv expected the index to remain unchanged. A number above 50 indicates expansion while a print below 50 shows contraction.

Business activity in the sector rose to 61.2 from 59.6 in April, its 118th straight month showing expansion. New orders in the services sector also grew at a faster rate in May relative to April.

“The non-manufacturing sector continues to experience a slight uptick in business activity, but it is still leveling off overall,” Anthony Nieves, chair of the Institute for Supply Management, said in a statement. “Respondents are mostly optimistic about overall business conditions, but concerns remain about tariffs and employment resources.”

The ISM data follows the release of much weaker-than-expected employment data from ADP and Moody’s Analytics. Private payrolls increased by just 27,000 in May. Economists expected them to grow by 173,000, according to a Dow Jones estimate.

Treasury yields pared losses after the ISM data was released. The 2-year rate traded at 1.81% after hitting its lowest level since December 2017 earlier in the day. The 10-year yield recovered to trade at 2.1%.

The services data was also a welcomed surprised after ISM’s manufacturing gauge fell in May to its lowest level since October 2016.

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Company: cnbc, Activity: cnbc, Date: 2019-06-05  Authors: fred imbert
Keywords: news, cnbc, companies, rose, expectations, tops, expected, data, overall, services, growth, sector, supply, rate, remain, released


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Need a summer reading list? Stanford professors say these 5 books will boost your success and value in life

But at the end of the day, it all comes down to how much value you bring to the world. Georgia Hunter says it took her nearly a decade of research to write “We Were the Lucky Ones.” She recorded family narratives, translated old letters and documents and reached out to a number of people, museums and organizations. This truly moving novel shows that even in the toughest battles, empathy and love can be our strongest weapons. “Swimming With Sharks: My Journey Into the World of Bankers,” by Joris


But at the end of the day, it all comes down to how much value you bring to the world. Georgia Hunter says it took her nearly a decade of research to write “We Were the Lucky Ones.” She recorded family narratives, translated old letters and documents and reached out to a number of people, museums and organizations. This truly moving novel shows that even in the toughest battles, empathy and love can be our strongest weapons. “Swimming With Sharks: My Journey Into the World of Bankers,” by Joris
Need a summer reading list? Stanford professors say these 5 books will boost your success and value in life Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-03  Authors: john hall
Keywords: news, cnbc, companies, list, swimming, ones, need, sector, novel, lucky, reading, things, professor, life, stanford, success, summer, world, sharks, say, value, professors


Need a summer reading list? Stanford professors say these 5 books will boost your success and value in life

Success can mean different things to different people. For some, it’s fame and fortune. For others, it’s a prestigious job. But at the end of the day, it all comes down to how much value you bring to the world.

As Bill Gates once said, “When a country has the skill and self-confidence to take action against its biggest problems, it makes outsiders eager to be a part of it.”

Recently, Stanford Business magazine asked faculty members from the Stanford Graduate School of Business to recommend books that inspired them to place the common good above their own personal interests:

1. “We Were the Lucky Ones, ” by Georgia Hunter

Recommended by Szu-chi Huang, Associate Professor of Marketing

Inspired by the true story of a Jewish family who was separated at the start of World War II, this novel demonstrates the resolve and power of the human spirit. Georgia Hunter says it took her nearly a decade of research to write “We Were the Lucky Ones.” She recorded family narratives, translated old letters and documents and reached out to a number of people, museums and organizations. This truly moving novel shows that even in the toughest battles, empathy and love can be our strongest weapons.

2. “Swimming With Sharks: My Journey Into the World of Bankers,” by Joris Luyendijk

Recommended by Peter A.E. Koudijs, Associate Professor of Finance

It’s interesting to get a behind-the-scenes look at the ugly underbelly of the financial sector: A brewing pot of toxic culture, burnout, backstabbing and bonus-obsessed co-workers — especially through the lens of Joris Luyendijk, an investigative journalist who knew very little about banking prior to writing the book. While “Swimming with Sharks” is a tale of greed and dishonesty, it does offer plenty of insight into what future leaders in the sector can do to implement a culture driven by positive values.

3. “No Longer at Ease,” by Chinua Achebe

Recommended by Scotty McLennan, Lecturer in Political Economy

From the author of the best-selling book “Things Fall Apart,” this novel tells the story of a young and educated man who returns home from university abroad full of high hopes and new principles.


Company: cnbc, Activity: cnbc, Date: 2019-06-03  Authors: john hall
Keywords: news, cnbc, companies, list, swimming, ones, need, sector, novel, lucky, reading, things, professor, life, stanford, success, summer, world, sharks, say, value, professors


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Europe’s airline sector is prime for consolidation: Lufthansa CEO

Lufthansa airplanes at waiting position on the first of a two-day strike at Frankfurt Airport on November 23, 2016 in Frankfurt, Germany. SEOUL — Europe’s airline industry is ready for consolidation, and Lufthansa expects to be part of the action, the German airline’s CEO told CNBC’s Chery Kang on Sunday. Probably looking at North America somewhat shows how the industry could develop,” Carsten Spohr said during the International Air Transport Association (IATA) AGM in Seoul. Lufthansa has been a


Lufthansa airplanes at waiting position on the first of a two-day strike at Frankfurt Airport on November 23, 2016 in Frankfurt, Germany. SEOUL — Europe’s airline industry is ready for consolidation, and Lufthansa expects to be part of the action, the German airline’s CEO told CNBC’s Chery Kang on Sunday. Probably looking at North America somewhat shows how the industry could develop,” Carsten Spohr said during the International Air Transport Association (IATA) AGM in Seoul. Lufthansa has been a
Europe’s airline sector is prime for consolidation: Lufthansa CEO Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-02  Authors: yolande chee
Keywords: news, cnbc, companies, consolidation, airline, spohr, sure, ceo, position, prime, lufthansa, thomas, sector, carrier, europes, quarter, growth, somewhat, industry


Europe's airline sector is prime for consolidation: Lufthansa CEO

Lufthansa airplanes at waiting position on the first of a two-day strike at Frankfurt Airport on November 23, 2016 in Frankfurt, Germany.

SEOUL — Europe’s airline industry is ready for consolidation, and Lufthansa expects to be part of the action, the German airline’s CEO told CNBC’s Chery Kang on Sunday.

“There is a need and room for more consolidation in Europe. Probably looking at North America somewhat shows how the industry could develop,” Carsten Spohr said during the International Air Transport Association (IATA) AGM in Seoul.

Lufthansa has been an active participant in the mergers and acquisitions (M&A) space, with Spohr pointing to previous activity with Swiss Air, Austrian Airlines, and Brussels Airlines.

“We have been active on this for many years,” he said. “If there are opportunities, we surely will be ready.”

The carrier currently has a bid in for Thomas Cook’s Condor unit, which Lufthansa previously sold its shareholding in to Thomas Cook between 2000 and 2007.

At this year’s IATA AGM, industry players have been facing a slowdown in profits on the back of higher costs and global trade wars. Lufthansa is expecting single-digit earnings growth for the year, saying it is optimistic, despite posting a pre-tax loss for the first quarter of 336 million euros ($376 million).

“We had a disappointing (first) quarter in Europe, mostly dominated by overcapacity. But with strong booking outlook for the summer, we maintain optimism for the rest of the year.”

Meanwhile the carrier has switched its focus to profitability from capacity growth when it comes to its low cost carrier, Eurowings, which Spohr said had been the growth driver for the group.

“We made sure we achieved the market position in important markets, and we are now going for profitability which has been somewhat neglected for the past years while we made sure we achieved strategic position.”


Company: cnbc, Activity: cnbc, Date: 2019-06-02  Authors: yolande chee
Keywords: news, cnbc, companies, consolidation, airline, spohr, sure, ceo, position, prime, lufthansa, thomas, sector, carrier, europes, quarter, growth, somewhat, industry


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Here’s how a Fiat Chrysler-Renault merger could spark some mega auto deals

2017 Chrysler Pacifica BraunAbility is on display at the 109th Annual Chicago Auto Show at McCormick Place in Chicago, Illinois on February 9, 2017. The auto industry has long promised consolidation but has never fully delivered on market expectations. “The recent FCA-Renault announcement confirms that the auto industry is changing and that cooperation will be one of the keys for future success. Angus Tweedie, auto equity research analyst at Citi agrees that closer collaboration between Daimler


2017 Chrysler Pacifica BraunAbility is on display at the 109th Annual Chicago Auto Show at McCormick Place in Chicago, Illinois on February 9, 2017. The auto industry has long promised consolidation but has never fully delivered on market expectations. “The recent FCA-Renault announcement confirms that the auto industry is changing and that cooperation will be one of the keys for future success. Angus Tweedie, auto equity research analyst at Citi agrees that closer collaboration between Daimler
Here’s how a Fiat Chrysler-Renault merger could spark some mega auto deals Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-31  Authors: julianna tatelbaum
Keywords: news, cnbc, companies, fiat, chryslerrenault, research, mobility, sector, auto, merger, deals, equity, heres, deal, global, industry, daimler, mega, spark


Here's how a Fiat Chrysler-Renault merger could spark some mega auto deals

2017 Chrysler Pacifica BraunAbility is on display at the 109th Annual Chicago Auto Show at McCormick Place in Chicago, Illinois on February 9, 2017. Raymond Boyd | Getty Images

Fiat Chrysler’s (FCA) proposed 50/50 merger with Renault could pave the way for a long-awaited M&A (merger and acquisition) boom in the sector, analysts have told CNBC. The tie-up looks to strengthen FCA’s position in electric vehicle technologies but would also create the third largest global automaker by production, behind Volkswagen and Toyota. It’s been lauded by many analysts, including Philippe Houchois, autos equity research analyst at Jefferies, who published in a note that there is nothing to dislike in a proposed merger that offers scope for synergies and restructuring. “(It’s) hard to disagree with the logic (of the deal) and with net synergies. We are positive on both shares with proforma combination still at low end of sector,” Houchois said. Gaetan Toulemonde, autos equity research analyst at Deutsche Bank, said in a note that it would allow both groups to share platforms and “capture economies of scale at a time when the industry needs to invest massively in CO2 reduction (and) autonomous driving.”

The auto industry has long promised consolidation but has never fully delivered on market expectations. Now, under mounting pressure from structural changes including new technologies and stricter emissions standards, we could finally be on the brink of an M&A bonanza in the sector. “There is certainly scope for a lot of co-operation throughout the industry, either through a full merger such as Renault-FCA or just sharing R&D or sourcing,” said Anna-Marie Baisden, Head of Autos, Macro Research at Fitch Solutions. And Arndt Ellinghorst, the head of global automotive research at investment banking firm Evercore ISI, told CNBC he “wouldn’t rule anything out at this stage as we know from public statements that various players are open to consolidation.” Daimler and BMW recently struck an agreement to pool their mobility services to create a new global player providing sustainable urban mobility for customers. They have also joined forces on autonomous driving. If they are forced to compete with another mega automaker in FCA-Renault, Daimler and BMW could perhaps even explore deepening their ties. “The recent FCA-Renault announcement confirms that the auto industry is changing and that cooperation will be one of the keys for future success. We are monitoring the next steps closely and certainly see the possibility that the merger can also create opportunities and potentials,” wrote a Daimler spokesperson in an email to CNBC.

Angus Tweedie, auto equity research analyst at Citi agrees that closer collaboration between Daimler and BMW would seem very logical given their similar target markets and therefore commonality of components. Areas of difficulty would be the shareholder structure and there also seems some opposition at both companies from an operational perspective. Like all European deals, headcount reductions would be difficult, Tweedie added. Ford and Volkswagen have already forged a global alliance to develop commercial vans and medium-sized pickups together and have signed a memorandum of understanding to investigate collaboration on autonomous vehicles, mobility services and electric vehicles and have started to explore opportunities. On the prospect of a bigger deal down the line for the two giants, Fitch’s Baisden said there was appealing logic. “Their strategies both focus on EVs and autonomy in the medium to long term and so with a challenging market that threatens their income, it would make sense.” And don’t forget about Peugeot. Multiple reports suggest the French carmaker was interested in doing a deal with Fiat Chrysler. If FCA consummates this deal with Renault, Peugeot will have to look elsewhere for merger opportunities.

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Company: cnbc, Activity: cnbc, Date: 2019-05-31  Authors: julianna tatelbaum
Keywords: news, cnbc, companies, fiat, chryslerrenault, research, mobility, sector, auto, merger, deals, equity, heres, deal, global, industry, daimler, mega, spark


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Wall Street firms expect more deals in 2019—how to profit from the merger madness

And — you guessed it — there’s a way for investors to try to capitalize on upcoming deals — using an exchange-traded fund from IndexIQ called the IQ Merger Arbitrage ETF, ticker MNA. Typically, this ETF’s overseers wait until deals are announced, then buy the target company, providing it meets their criteria. Under the Trump administration, deal completion rates have only gone up, making that piece of MNA’s strategy stronger, Bruno said Wednesday. The fund also has a unique short-selling strateg


And — you guessed it — there’s a way for investors to try to capitalize on upcoming deals — using an exchange-traded fund from IndexIQ called the IQ Merger Arbitrage ETF, ticker MNA. Typically, this ETF’s overseers wait until deals are announced, then buy the target company, providing it meets their criteria. Under the Trump administration, deal completion rates have only gone up, making that piece of MNA’s strategy stronger, Bruno said Wednesday. The fund also has a unique short-selling strateg
Wall Street firms expect more deals in 2019—how to profit from the merger madness Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-30  Authors: lizzy gurdus
Keywords: news, cnbc, companies, expect, deal, deals, actually, sector, firms, bruno, broad, market, merger, wall, profit, 2019how, strategy, madness, etf, street


Wall Street firms expect more deals in 2019—how to profit from the merger madness

Merger mania is alive and well on Wall Street.

A slew of top firms including J.P. Morgan, Deloitte, Morgan Stanley and PwC have predicted that 2019 will continue to see strong deal activity after a banner 2018, when global merger and acquisition activity posted over $4 trillion in volumes.

Several megadeals have already hit the market in the first half of 2019, including Bristol-Myers Squibb’s purchase of Celgene, the largest health-care deal on record when you factor in the debt load, according to data gathered by Refinitiv.

And — you guessed it — there’s a way for investors to try to capitalize on upcoming deals — using an exchange-traded fund from IndexIQ called the IQ Merger Arbitrage ETF, ticker MNA.

MNA’s strategy is rules-based, says Salvatore Bruno, the man behind the ETF and IndexIQ’s chief investment officer. Speaking on CNBC’s “ETF Edge,” he said the general idea behind the ETF is investing in large deals expected to generate high premiums ahead of their completion, giving investors “the opportunity to pick up some of those premiums.”

Typically, this ETF’s overseers wait until deals are announced, then buy the target company, providing it meets their criteria. Under the Trump administration, deal completion rates have only gone up, making that piece of MNA’s strategy stronger, Bruno said Wednesday.

“By owning approximately 40 to 50 names at any point in time, we’re trying to diversify some of that specific risk of one particular deal breaking, but, really, trying to capture the overall premium associated with merger arbitrage investing,” he said.

The fund also has a unique short-selling strategy, Bruno said. Rather than shorting the stock of the acquirer, like in a typical merger arbitrage strategy, MNA shorts the acquirer’s sector as a whole.

“We’re trying to provide broad protection against downside moves related to a specific event in an industry, a sector or the broad market,” Bruno said, adding that Wednesday’s choppy, negative trading in the broader market didn’t end up putting much pressure on his fund, which is roughly 35% hedged against broad market weakness.

“MNA has all of the benefits of a traditional ETF, including transparency, liquidity and tax efficiency, so that’s why we think it’s actually the preferred vehicle for a strategy like this,” said Bruno, who is also managing director at New York Life Investments. “It’s actually been fairly effective at protecting against the broad downside moves.”

In addition to Celgene, MNA’s top holdings include oil and gas company Anadarko Petroleum, which is in the process of being acquired by Occidental Petroleum, and software play Red Hat, which was bought by IBM last October.

While MNA’s performance has essentially been flat for 2019, it’s hedged especially well against the U.S.-China trade debacle, Bruno said.

“Even though we have probably about a 25% weight in technology, we’re actually short about 12% on the technology sector,” he said. “As we’ve seen some of the semis come under pressure with the China trade issues, … that’s actually provided very good downside protection … against that broad, down move that’s affecting the entire sector. ”

All in all, Bruno’s thesis is simple: “For an individual investor, it would probably be pretty difficult to own 40 or 50 deals and then to identify the hedges and to put those on,” he said. “Clearly, doing it in a structure like an ETF gives you that diversification.”


Company: cnbc, Activity: cnbc, Date: 2019-05-30  Authors: lizzy gurdus
Keywords: news, cnbc, companies, expect, deal, deals, actually, sector, firms, bruno, broad, market, merger, wall, profit, 2019how, strategy, madness, etf, street


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Crude could drop to $52 as global pressures persist, says top technical analyst

Overall, this year has been choppy for prices, which are often tied to global macroeconomic developments such as the ongoing U.S.-China trade war. Now that they have, with U.S. West Texas Intermediate crude settling just above $59 on Tuesday, “obviously, the upside is limited,” said Yamada, who founded and runs Yamada Technical Research Advisors. You can see where it encountered resistance, right at the resistance from the 2018 peak,” she said. However, the weekly momentum is right on the verge


Overall, this year has been choppy for prices, which are often tied to global macroeconomic developments such as the ongoing U.S.-China trade war. Now that they have, with U.S. West Texas Intermediate crude settling just above $59 on Tuesday, “obviously, the upside is limited,” said Yamada, who founded and runs Yamada Technical Research Advisors. You can see where it encountered resistance, right at the resistance from the 2018 peak,” she said. However, the weekly momentum is right on the verge
Crude could drop to $52 as global pressures persist, says top technical analyst Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-28  Authors: lizzy gurdus
Keywords: news, cnbc, companies, trading, analyst, resistance, momentum, 52, persist, crude, weekly, technical, right, range, sector, prices, technician, drop, pressures, global, yamada


Crude could drop to $52 as global pressures persist, says top technical analyst

The energy market may be in for more pain.

Crude oil prices had their worst weekly performance of 2019 last week, catching some reprieve on Tuesday as flooding in the Midwestern United States restricted supply from several key distribution centers. Overall, this year has been choppy for prices, which are often tied to global macroeconomic developments such as the ongoing U.S.-China trade war.

And there could be more weakness ahead for the commodity, warns top technician Louise Yamada, who predicted in April that the crude rally would stop if prices broke below the $60 level.

Now that they have, with U.S. West Texas Intermediate crude settling just above $59 on Tuesday, “obviously, the upside is limited,” said Yamada, who founded and runs Yamada Technical Research Advisors.

“It’s intriguing if you look at the chart. You can see where it encountered resistance, right at the resistance from the 2018 peak,” she said. “Now, it looks as though things have broken down, and you’re possibly in a trading range between [$]52, where the … 200-week moving average is, and [$]62, which is now our resistance having broken as a support level.”

That could lead to some sideways trading within that range, but will eventually give way to a few concerning momentum trends that seem to be coming to a fore, Yamada said.

“You could have some interim trading. However, the weekly momentum is right on the verge of going negative, which suggests further downside, and the monthly momentum … has been on a sell for quite some time,” the technician said. “So, at the moment, I think the path of least resistance may be to lower levels.”

If oil prices break below last week’s low around $57, Yamada’s more conservative downside targets would be around $55 or $54 a barrel.

“But $52 would be a target, let’s say, if this continued decline is without bounces,” she warned, pointing out that her firm’s outlook is still relatively bleak given oil’s inability to break above a downtrend from the 2008 peak for the last 10 years.

“It does appear to us that we’ve got some kind of a problem with energy,” Yamada said. “The relative strength on the sector has been very poor. It broke down in 2014 structurally, and nothing has changed to improve our view of the sector, the stocks or the commodity.”


Company: cnbc, Activity: cnbc, Date: 2019-05-28  Authors: lizzy gurdus
Keywords: news, cnbc, companies, trading, analyst, resistance, momentum, 52, persist, crude, weekly, technical, right, range, sector, prices, technician, drop, pressures, global, yamada


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European stocks close higher as trade war offers reprieve; tech sector rallies

European stocks closed higher Tuesday as tensions eased slightly in the escalating trade war between the U.S. and China. The pan-European STOXX 600 closed provisionally 0.5% higher, with most sectors in positive territory. Technology stocks led the gains with a 1.6% rise. Chipmakers AMS and STMicroelectronics both climbed about 4% as a result of the positive trade developments. OECD chief economist Laurence Boone told CNBC Tuesday that U.S.-Sino trade tensions have “derailed global growth” and n


European stocks closed higher Tuesday as tensions eased slightly in the escalating trade war between the U.S. and China. The pan-European STOXX 600 closed provisionally 0.5% higher, with most sectors in positive territory. Technology stocks led the gains with a 1.6% rise. Chipmakers AMS and STMicroelectronics both climbed about 4% as a result of the positive trade developments. OECD chief economist Laurence Boone told CNBC Tuesday that U.S.-Sino trade tensions have “derailed global growth” and n
European stocks close higher as trade war offers reprieve; tech sector rallies Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-21  Authors: elliot smith ryan browne, elliot smith, ryan browne
Keywords: news, cnbc, companies, technology, rallies, tech, stocks, reprieve, trade, european, tensions, offers, higher, markets, sector, territory, positive, growth, huawei, war


European stocks close higher as trade war offers reprieve; tech sector rallies

European stocks closed higher Tuesday as tensions eased slightly in the escalating trade war between the U.S. and China.

The pan-European STOXX 600 closed provisionally 0.5% higher, with most sectors in positive territory. Technology stocks led the gains with a 1.6% rise.

Monday saw markets close lower after a U.S. crackdown on Chinese telecommunications giant Huawei weighed on the technology sector. Major European chipmakers saw a sell-off with reports that Germany’s Infineon had suspended shipments to Huawei.

However, markets rebounded Tuesday after the U.S. government temporarily eased some trade restrictions imposed on the company, in a move intended to minimize disruption for Huawei customers around the world. Google confirmed Tuesday that it had reversed a decision to cut ties with Huawei following the move.

Chipmakers AMS and STMicroelectronics both climbed about 4% as a result of the positive trade developments. Many semiconductor stocks had turned south on Monday amid jitters around Huawei.

In economic news, the OECD released its growth outlook, projecting global economic growth of 3.2% in 2019, down 0.1% from its March forecast, and an unchanged 3.4% in 2020. OECD chief economist Laurence Boone told CNBC Tuesday that U.S.-Sino trade tensions have “derailed global growth” and need to be dealt with at a multilateral level.

Meanwhile, investors stateside took their cues from international equity markets, with the Dow Jones Industrial Average trading around 130 points higher and the S&P 500 and Nasdaq indexes also in positive territory.


Company: cnbc, Activity: cnbc, Date: 2019-05-21  Authors: elliot smith ryan browne, elliot smith, ryan browne
Keywords: news, cnbc, companies, technology, rallies, tech, stocks, reprieve, trade, european, tensions, offers, higher, markets, sector, territory, positive, growth, huawei, war


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Stocks slide as Huawei fallout drags down Qualcomm, other tech shares

Stocks fell on Monday as the intensifying fallout from a U.S. crackdown on Chinese telecom giant Huawei pressured the technology sector. The S&P 500 pulled back 0.7% to 2,840.23, with the tech sector dropping 1.8%. The Nasdaq Composite lagged, dropping 1.46% to 7,702.38. Bloomberg News also reported that companies like Intel, Qualcomm and Broadcom will not supply Huawei until further notice. That’s difficult because “Huawei has its tentacles in so many parts of technology sector.


Stocks fell on Monday as the intensifying fallout from a U.S. crackdown on Chinese telecom giant Huawei pressured the technology sector. The S&P 500 pulled back 0.7% to 2,840.23, with the tech sector dropping 1.8%. The Nasdaq Composite lagged, dropping 1.46% to 7,702.38. Bloomberg News also reported that companies like Intel, Qualcomm and Broadcom will not supply Huawei until further notice. That’s difficult because “Huawei has its tentacles in so many parts of technology sector.
Stocks slide as Huawei fallout drags down Qualcomm, other tech shares Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-20  Authors: fred imbert
Keywords: news, cnbc, companies, slide, companies, qualcomm, technology, tech, lagged, stocks, shares, drags, fallout, points, dropping, chinese, sector, business, thats, huawei


Stocks slide as Huawei fallout drags down Qualcomm, other tech shares

Stocks fell on Monday as the intensifying fallout from a U.S. crackdown on Chinese telecom giant Huawei pressured the technology sector.

The Dow Jones Industrial Average declined by 84.1 points to 25,679.90 as Apple lagged. The 30-stock index dropped as much as 203 points earlier in the day. The S&P 500 pulled back 0.7% to 2,840.23, with the tech sector dropping 1.8%. The Nasdaq Composite lagged, dropping 1.46% to 7,702.38.

Alphabet’s Google has suspended business with Huawei that involves transferring hardware, software and other technical services. The U.S. search giant’s decision follows President Donald Trump’s administration adding Huawei to a list that required U.S. companies get a license to do business with the Chinese company. Bloomberg News also reported that companies like Intel, Qualcomm and Broadcom will not supply Huawei until further notice.

“If this remains enforced, it’s going to create some opportunity, but clearly companies are working with their compliance departments to get out of the way of this Huawei situation,” said Quincy Krosby, chief market strategist at Prudential Financial. That’s difficult because “Huawei has its tentacles in so many parts of technology sector. That’s why this is not a one-day event.”


Company: cnbc, Activity: cnbc, Date: 2019-05-20  Authors: fred imbert
Keywords: news, cnbc, companies, slide, companies, qualcomm, technology, tech, lagged, stocks, shares, drags, fallout, points, dropping, chinese, sector, business, thats, huawei


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Europe’s ride-sharing unicorns call for reform to help the sector thrive

Martin Villig, co-founder of ride-hailing firm Bolt, which was formerly known as Taxify. PARIS — Ride-sharing giants in Europe have urged reforms for the transport industry, in the hope that it will help them expand further within the continent and face less barriers to innovation. “I think it would help even in our industry if there would be some kind of harmonization of the transport regulations,” Bolt co-founder Martin Villig told CNBC in an interview at the Viva Technology conference in Pari


Martin Villig, co-founder of ride-hailing firm Bolt, which was formerly known as Taxify. PARIS — Ride-sharing giants in Europe have urged reforms for the transport industry, in the hope that it will help them expand further within the continent and face less barriers to innovation. “I think it would help even in our industry if there would be some kind of harmonization of the transport regulations,” Bolt co-founder Martin Villig told CNBC in an interview at the Viva Technology conference in Pari
Europe’s ride-sharing unicorns call for reform to help the sector thrive Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-17  Authors: ryan browne
Keywords: news, cnbc, companies, unicorns, europes, help, transport, villig, think, reform, thrive, ridehailing, bolt, sector, ridesharing, cofounder, operate, spain


Europe's ride-sharing unicorns call for reform to help the sector thrive

Martin Villig, co-founder of ride-hailing firm Bolt, which was formerly known as Taxify.

PARIS — Ride-sharing giants in Europe have urged reforms for the transport industry, in the hope that it will help them expand further within the continent and face less barriers to innovation.

Co-founders from two of the region’s largest mobility firms, BlaBlaCar and Bolt — formerly Taxify — said the lack of a common framework on carpooling and ride-hailing makes it more difficult to operate across the European Union.

The main issue is that the EU, though a collective bloc of 28 — or soon to be 27 — nations, does not have a unified “definition” of what it means to be a ride-sharing start-up, and therefore this creates a fragmentation among the different member states.

“I think it would help even in our industry if there would be some kind of harmonization of the transport regulations,” Bolt co-founder Martin Villig told CNBC in an interview at the Viva Technology conference in Paris.

The firm has been barred from entering countries like Germany, Italy, Spain and Denmark, Villig said, because those territories do not yet permit transportation start-ups to operate freely. In Spain, for instance, firms like Uber and Spanish company Cabify have faced a local pushback due to discontent in the traditional taxi industry.

“I think that there is a big opportunity to open that market,” Bolt’s co-founder said of untapped markets like Germany and Spain, adding that “giving some general harmonization guidelines from a European level” would help, “and then maybe some smaller details can be handled.”


Company: cnbc, Activity: cnbc, Date: 2019-05-17  Authors: ryan browne
Keywords: news, cnbc, companies, unicorns, europes, help, transport, villig, think, reform, thrive, ridehailing, bolt, sector, ridesharing, cofounder, operate, spain


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