Dow set to jump more than 250 points as Wall Street cheers prospects of a US-China trade deal

U.S. stock index futures were higher Wednesday amid renewed optimism around the possibility of a permanent U.S.-China trade deal being struck. ET, Dow Jones Industrial Average futures rose 232 points, indicating a gain of 267.76 points. Optimism around trade lifted shares of Caterpillar and Boeing by more than 1 percent each before the bell. These stocks are seen as bellwethers for global trade because of their exposure to markets abroad. Wall Street had another wild session on Tuesday, with the


U.S. stock index futures were higher Wednesday amid renewed optimism around the possibility of a permanent U.S.-China trade deal being struck. ET, Dow Jones Industrial Average futures rose 232 points, indicating a gain of 267.76 points. Optimism around trade lifted shares of Caterpillar and Boeing by more than 1 percent each before the bell. These stocks are seen as bellwethers for global trade because of their exposure to markets abroad. Wall Street had another wild session on Tuesday, with the
Dow set to jump more than 250 points as Wall Street cheers prospects of a US-China trade deal Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-12  Authors: fred imbert, sam meredith
Keywords: news, cnbc, companies, jump, street, chinese, wall, uschina, china, futures, trade, points, seen, talks, mahajan, deal, tariffs, prospects, trump, dow, set


Dow set to jump more than 250 points as Wall Street cheers prospects of a US-China trade deal

U.S. stock index futures were higher Wednesday amid renewed optimism around the possibility of a permanent U.S.-China trade deal being struck.

At around 7:02 a.m. ET, Dow Jones Industrial Average futures rose 232 points, indicating a gain of 267.76 points. Futures on the S&P 500 and Nasdaq 100 were also seen relatively upbeat.

Optimism around trade lifted shares of Caterpillar and Boeing by more than 1 percent each before the bell. These stocks are seen as bellwethers for global trade because of their exposure to markets abroad.

In an interview with Reuters on Tuesday, President Donald Trump said he would intervene in the Justice Department’s case against a top executive at Chinese telecoms giant Huawei if it would help serve national security interests or help U.S.-Sino trade talks. Huawei is the one of the largest tech companies in China. It is also seen as a symbol of pride by the Chinese government.

The moves in premarket trade come after Trump said talks between Washington and Beijing were ongoing and confirmed he would not raise tariffs on Chinese imports until he was sure about a comprehensive trade agreement.

They also come after multiple reports pointed to China cutting tariffs on U.S.-made cars. A U.S. official told Reuters China indicated it will lower the tariffs, but the U.S. would wait on formal documentation and timing.

Wall Street had another wild session on Tuesday, with the Dow swinging more than 500 points before closing slightly lower.

“This intraday volatility is very headline-driven,” said Mona Mahajan, U.S. investment strategist at AllianzGI. “Between trade, the Federal Reserve and recession fears, it’s reason to give investors pause.”

“Investors are also more willing to sell rallies than buy dips. That’s the sentiment right now,” Mahajan said.


Company: cnbc, Activity: cnbc, Date: 2018-12-12  Authors: fred imbert, sam meredith
Keywords: news, cnbc, companies, jump, street, chinese, wall, uschina, china, futures, trade, points, seen, talks, mahajan, deal, tariffs, prospects, trump, dow, set


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Italy is no longer Europe’s problem child as France’s protest crisis grows

Italy was firmly in the spotlight — and on Europe’s naughty step — until recent weeks for its budget-busting spending plans but civil unrest in France is now dominating Europe’s attention. Riots, looting and vandalism plagued Paris and other cities at the weekend as France witnessed its fourth consecutive weekend of anti-government demonstrations that have made President Macron’s government look vulnerable. The unrest, coupled with political uncertainty in Europe – seen in Germany as Angela Merk


Italy was firmly in the spotlight — and on Europe’s naughty step — until recent weeks for its budget-busting spending plans but civil unrest in France is now dominating Europe’s attention. Riots, looting and vandalism plagued Paris and other cities at the weekend as France witnessed its fourth consecutive weekend of anti-government demonstrations that have made President Macron’s government look vulnerable. The unrest, coupled with political uncertainty in Europe – seen in Germany as Angela Merk
Italy is no longer Europe’s problem child as France’s protest crisis grows Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: holly ellyatt, andreas solaro, afp, getty images, emeric fohlen, nurphoto
Keywords: news, cnbc, companies, italy, protest, europe, crisis, weekend, longer, grows, child, lot, france, witnessed, unrest, problem, 2019, seen, frances, europes


Italy is no longer Europe's problem child as France's protest crisis grows

Italy was firmly in the spotlight — and on Europe’s naughty step — until recent weeks for its budget-busting spending plans but civil unrest in France is now dominating Europe’s attention.

Riots, looting and vandalism plagued Paris and other cities at the weekend as France witnessed its fourth consecutive weekend of anti-government demonstrations that have made President Macron’s government look vulnerable.

The unrest, coupled with political uncertainty in Europe – seen in Germany as Angela Merkel winds down her leadership and wider Europe ahead of European parliamentary elections in May 2019 – mean that Italy’s controversial 2019 budget should no longer be the main focus of attention in the region.

“Italy’s risks to the market, and even Europe, seems quite limited in the sense that you have a lot of safeguards in place and we’ve already seen a lot of risk-off in Italy,” Christian Mueller-Glissmann, Managing Director, Portfolio Strategy at Goldman Sachs, told CNBC on Monday.


Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: holly ellyatt, andreas solaro, afp, getty images, emeric fohlen, nurphoto
Keywords: news, cnbc, companies, italy, protest, europe, crisis, weekend, longer, grows, child, lot, france, witnessed, unrest, problem, 2019, seen, frances, europes


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Cramer’s lightning round: There are better drug stocks to own than GlaxoSmithKline

GlaxoSmithKline PLC: “We don’t care where a stock’s been, we care where it’s going, but it is at $37. [CEO] Emma Walmsley is supposed to be doing a good job. As far as I’m concerned, there are much better drug stocks to own than Glaxo.” You don’t want to be there because people don’t like housing right now and it’s going to be affiliated with the housing group and it just keeps going down. If we’re going to be in that industry, we’re going to be in Waste Management, WM, which holds up incredibly


GlaxoSmithKline PLC: “We don’t care where a stock’s been, we care where it’s going, but it is at $37. [CEO] Emma Walmsley is supposed to be doing a good job. As far as I’m concerned, there are much better drug stocks to own than Glaxo.” You don’t want to be there because people don’t like housing right now and it’s going to be affiliated with the housing group and it just keeps going down. If we’re going to be in that industry, we’re going to be in Waste Management, WM, which holds up incredibly
Cramer’s lightning round: There are better drug stocks to own than GlaxoSmithKline Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-07  Authors: elizabeth gurdus
Keywords: news, cnbc, companies, drug, dont, glaxosmithkline, stocks, round, cramers, waste, housing, ceo, better, job, care, lightning, seen, big, going


Cramer's lightning round: There are better drug stocks to own than GlaxoSmithKline

GlaxoSmithKline PLC: “We don’t care where a stock’s been, we care where it’s going, but it is at $37. It’s got a 5 percent yield. [CEO] Emma Walmsley is supposed to be doing a good job. I have not seen what I’d like to see from that company. As far as I’m concerned, there are much better drug stocks to own than Glaxo.”

SiteOne Landscape Supply Inc.: “No. You don’t want to be there because people don’t like housing right now and it’s going to be affiliated with the housing group and it just keeps going down. We’re going to have to take a big pass.”

Casella Waste Systems Inc.: “No. If we’re going to be in that industry, we’re going to be in Waste Management, WM, which holds up incredibly well. Have you seen that stock? It is just dynamite!”

Abbott Laboratories: “Boy, I think that that one is terrific. That’s [CEO] Miles White. He’s done a remarkable job. The device business is red-hot. They’ve got a fantastic balance sheet and it’s a big holding of the ActionAlertsPlus.com club.”


Company: cnbc, Activity: cnbc, Date: 2018-12-07  Authors: elizabeth gurdus
Keywords: news, cnbc, companies, drug, dont, glaxosmithkline, stocks, round, cramers, waste, housing, ceo, better, job, care, lightning, seen, big, going


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Wilbur Ross: Economy is strong — media blows worries out of proportion

Commerce Secretary Wilbur Ross said Tuesday the U.S. economy is in good shape, and he blamed the media for stoking worries about a slowdown. “First of all the economy itself is really strong,” Ross said on CNBC’s “Squawk Box.” “You’ve seen the unemployment figures; you’ve seen the new claims; you’ve seen industrial production; you’ve seen executive confidence; you’ve seen consumer confidence. In the CNBC interview Tuesday, Ross said Trump got “very good” assurances from Xi on trade. “I do believ


Commerce Secretary Wilbur Ross said Tuesday the U.S. economy is in good shape, and he blamed the media for stoking worries about a slowdown. “First of all the economy itself is really strong,” Ross said on CNBC’s “Squawk Box.” “You’ve seen the unemployment figures; you’ve seen the new claims; you’ve seen industrial production; you’ve seen executive confidence; you’ve seen consumer confidence. In the CNBC interview Tuesday, Ross said Trump got “very good” assurances from Xi on trade. “I do believ
Wilbur Ross: Economy is strong — media blows worries out of proportion Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-04  Authors: berkeley lovelace jr, bill clark, cq-roll call group, getty images
Keywords: news, cnbc, companies, strong, blows, economy, technology, seen, trump, worries, youve, proportion, media, president, wilbur, xi, trade, rates, ross


Wilbur Ross: Economy is strong — media blows worries out of proportion

Commerce Secretary Wilbur Ross said Tuesday the U.S. economy is in good shape, and he blamed the media for stoking worries about a slowdown.

“First of all the economy itself is really strong,” Ross said on CNBC’s “Squawk Box.” “You’ve seen the unemployment figures; you’ve seen the new claims; you’ve seen industrial production; you’ve seen executive confidence; you’ve seen consumer confidence. Those are all very, very high.”

“It’s the press that seems more obsessed with what may lie in the future,” he added.

Ross said instead of “speculating,” the media should judge the Trump administration by what it does “not what they think may be some boogeyman hiding out in the future.”

Major Wall Street firms, including Goldman Sachs and J.P. Morgan, expect to see U.S. growth slowing to below 2 percent in the second half of 2019. Economists have cited a number of concerns, including the Federal Reserve hiking interest rates and the impact of tariffs.

After its most recent hike, in September, the Fed projected three rate increases for next year. But in a speech last week, Fed Chairman Jerome Powell said rates are “just below” neutral, suggesting that concerns about a more aggressive path higher for rates may no longer be warranted.

Ross’ appearance on CNBC came after President Donald Trump and Chinese President Xi Jinping agreed over the weekend to a trade cease fire, in which both sides put on hold for 90 days any new tariffs on each other’s goods while talks to settle their disputes continue. The clock began on Saturday, the White House said Monday, correcting top economic aide Larry Kudlow’s earlier statement.

U.S. Trade Representative Robert Lighthizer will lead the negotiations that attempt to get Beijing to modify what Trump sees as its unfair trade practices such as barriers to Chinese markets and forced technology transfers. Ross and Treasury Secretary Steven Mnuchin will also be involved in the talks.

In the CNBC interview Tuesday, Ross said Trump got “very good” assurances from Xi on trade. “I do believe if they live up to the indications they had with President Trump, everybody will be really happy.”

Ross added during the 90-day period the Trump administration hopes to “pin down” details with China for a deal.

Mnuchin expressed optimism during an interview Monday with CNBC that the Trump-Xi framework can be turned into a “real agreement.” He said the U.S. received commitments for concessions on several key issues. “This isn’t just about buying things. This is about opening markets to U.S. companies and protecting U.S. technology. Those are very important structural issues to the president.”


Company: cnbc, Activity: cnbc, Date: 2018-12-04  Authors: berkeley lovelace jr, bill clark, cq-roll call group, getty images
Keywords: news, cnbc, companies, strong, blows, economy, technology, seen, trump, worries, youve, proportion, media, president, wilbur, xi, trade, rates, ross


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Cracking the Chinese market requires patience and localization, Western executives say

To break into China and expand their businesses in Asia, companies need to establish a long-term strategy and a deep understanding of local practices, several business leaders told CNBC. As a result, Chinese start-ups have often pushed beyond the ethical boundaries of what a Western company might consider appropriate, before authorities step in. “There aren’t many Western tech companies that have had success in China because it is a very competitive environment,” Mikkel Hippe Brun, co-founder of


To break into China and expand their businesses in Asia, companies need to establish a long-term strategy and a deep understanding of local practices, several business leaders told CNBC. As a result, Chinese start-ups have often pushed beyond the ethical boundaries of what a Western company might consider appropriate, before authorities step in. “There aren’t many Western tech companies that have had success in China because it is a very competitive environment,” Mikkel Hippe Brun, co-founder of
Cracking the Chinese market requires patience and localization, Western executives say Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-03  Authors: evelyn cheng, dave zhong, getty images for cnbc, -jay li, general manager of greater china for world wrestli
Keywords: news, cnbc, companies, decision, seen, need, say, asia, china, market, patience, western, kjol, requires, executives, localization, chinese, cracking, tech, companies


Cracking the Chinese market requires patience and localization, Western executives say

To break into China and expand their businesses in Asia, companies need to establish a long-term strategy and a deep understanding of local practices, several business leaders told CNBC.

“If you want to come to Asia, and think that (you can just) turn around, bring back a bag full of money, don’t make that mistake,” said Hakon Bruaset Kjol, senior vice president, partner and external relations Asia, at mobile network operator Telenor. “We have seen so many companies come and try to do that. You need to be long term.”

Speaking Wednesday at CNBC’s East Tech West conference in the Nansha district of Guangzhou in China, Kjol said that the process of entering the Asian market will take longer for companies coming in with Western-developed principles and codes of conduct.

Beijing especially has tended to take a more reactionary approach to regulating fast-growing industries such as technology. As a result, Chinese start-ups have often pushed beyond the ethical boundaries of what a Western company might consider appropriate, before authorities step in.

“There aren’t many Western tech companies that have had success in China because it is a very competitive environment,” Mikkel Hippe Brun, co-founder of cloud-based supply chain company Tradeshift, said in a separate session at the conference on Wednesday. “Chinese companies run with Chinese speed and very short decision cycles. So Western companies (are) always behind, (and) seen as slow in those decision cycles.”


Company: cnbc, Activity: cnbc, Date: 2018-12-03  Authors: evelyn cheng, dave zhong, getty images for cnbc, -jay li, general manager of greater china for world wrestli
Keywords: news, cnbc, companies, decision, seen, need, say, asia, china, market, patience, western, kjol, requires, executives, localization, chinese, cracking, tech, companies


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Trump postpones G-20 presser, citing George HW Bush’s death

President Donald Trump postponed a Saturday press conference designed to tout the “great success” of the Group of 20 meeting in Argentina, citing the death of former president George H.W. The president’s move came as markets were hopeful about a detente, or at least signs of progress, between the U.S. and China on trade. Trump and Chinese President Xi Jinping are expected to meet on the sidelines of the conference later Saturday. The officials also confirmed that “taboo words” in drafting the co


President Donald Trump postponed a Saturday press conference designed to tout the “great success” of the Group of 20 meeting in Argentina, citing the death of former president George H.W. The president’s move came as markets were hopeful about a detente, or at least signs of progress, between the U.S. and China on trade. Trump and Chinese President Xi Jinping are expected to meet on the sidelines of the conference later Saturday. The officials also confirmed that “taboo words” in drafting the co
Trump postpones G-20 presser, citing George HW Bush’s death Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-01  Authors: javier e david, cynthia johnson, liaison, getty images, brendan smialowski, afp
Keywords: news, cnbc, companies, seen, presser, bushs, trump, trade, states, g20, conference, china, press, president, united, postpones, citing, death, progress, hw, george


Trump postpones G-20 presser, citing George HW Bush's death

President Donald Trump postponed a Saturday press conference designed to tout the “great success” of the Group of 20 meeting in Argentina, citing the death of former president George H.W. Bush.

Via Twitter, the president said in Buenos Aires that he would wait until after his return to the United States to brief the press on the outcome of the confab between the world’s largest industrialized nations.

The president’s move came as markets were hopeful about a detente, or at least signs of progress, between the U.S. and China on trade. Trump and Chinese President Xi Jinping are expected to meet on the sidelines of the conference later Saturday.

G-20 leaders have agreed to address reform in the World Trade Organization (WTO), maintain current efforts on climate change, and progress taxation of the digital economy, according to a draft seen by Reuters.

The officials also confirmed that “taboo words” in drafting the communique included any reference to protectionism or unfair trade practices. This was seen as important given the ongoing tensions between the United States and China.


Company: cnbc, Activity: cnbc, Date: 2018-12-01  Authors: javier e david, cynthia johnson, liaison, getty images, brendan smialowski, afp
Keywords: news, cnbc, companies, seen, presser, bushs, trump, trade, states, g20, conference, china, press, president, united, postpones, citing, death, progress, hw, george


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Bank of Korea lifts rates as expected, seen on hold in 2019

South Korea’s central bank raised its policy interest rate on Friday for the first time in a year in a widely expected move aimed mainly at containing a boom in parts of the country’s property market. The Bank of Korea’s monetary policy committee increased the base rate, which applies to its seven-day repurchase agreement deals, by 25 basis points to 1.75 percent, a media official at the central bank said without elaborating. “Given the global uncertainties that we’ve had of late, I think the ce


South Korea’s central bank raised its policy interest rate on Friday for the first time in a year in a widely expected move aimed mainly at containing a boom in parts of the country’s property market. The Bank of Korea’s monetary policy committee increased the base rate, which applies to its seven-day repurchase agreement deals, by 25 basis points to 1.75 percent, a media official at the central bank said without elaborating. “Given the global uncertainties that we’ve had of late, I think the ce
Bank of Korea lifts rates as expected, seen on hold in 2019 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-30  Authors: seongjoon cho bloomberg via getty images
Keywords: news, cnbc, companies, rates, policy, hold, bank, seoul, property, korea, central, widely, rate, lifts, koreas, timing, seen, 2019, markets, expected


Bank of Korea lifts rates as expected, seen on hold in 2019

South Korea’s central bank raised its policy interest rate on Friday for the first time in a year in a widely expected move aimed mainly at containing a boom in parts of the country’s property market.

The Bank of Korea’s monetary policy committee increased the base rate, which applies to its seven-day repurchase agreement deals, by 25 basis points to 1.75 percent, a media official at the central bank said without elaborating.

Governor Lee Ju-yeol is due to hold a news conference starting at 0220 GMT.

Analysts said heightened global markets turmoil over the past few months has made it difficult for the BOK to find the perfect timing to adjust policy.

“Given the global uncertainties that we’ve had of late, I think the central bank chose the best timing,” said Kong Dong-rak, strategist at Daishin Securities, adding that the central bank would likely keep the rate on hold throughout next year.

Market reaction to the widely expected move was modest as investors await further comments from the governor for guidance on future policy direction.

As of 0126 GMT, the Seoul stock market’s KOSPI was down 0.1 percent on the day while the front-month 3-year treasury bond futures were down 0.03 points.

The decision, tipped by 15 out of 16 economists in a Reuters survey, marked the first tightening in policy since November last year and brought the benchmark rate to its highest level since mid-2015.

Policymakers have been concerned about a property boom in the Seoul area and a surge in consumer finance, prompting various property restrictions.

Still, analysts expect the central bank to stand pat at least throughout next year with the domestic property market already cooling at a time when Asia’s fourth-largest economy is slowing and inflation remains low.


Company: cnbc, Activity: cnbc, Date: 2018-11-30  Authors: seongjoon cho bloomberg via getty images
Keywords: news, cnbc, companies, rates, policy, hold, bank, seoul, property, korea, central, widely, rate, lifts, koreas, timing, seen, 2019, markets, expected


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UK’s largest housebuilder calls on lawmakers to move forward with Brexit and stop the uncertainty

Brexit uncertainty is “unhelpful” for those seeking to buy a home and the U.K. Parliament needs to move forward with the country’s departure from the EU, the CEO of the U.K.’s largest housebuilder by volume told CNBC Thursday. The industry has struggled with the uncertainty surrounding the process of leaving the European Union, mostly when it comes to house purchases. U.K. housebuilders have seen a resurgence over the last decade due to ultra-low interest rates aiding their ability to borrow. “W


Brexit uncertainty is “unhelpful” for those seeking to buy a home and the U.K. Parliament needs to move forward with the country’s departure from the EU, the CEO of the U.K.’s largest housebuilder by volume told CNBC Thursday. The industry has struggled with the uncertainty surrounding the process of leaving the European Union, mostly when it comes to house purchases. U.K. housebuilders have seen a resurgence over the last decade due to ultra-low interest rates aiding their ability to borrow. “W
UK’s largest housebuilder calls on lawmakers to move forward with Brexit and stop the uncertainty Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-29  Authors: silvia amaro
Keywords: news, cnbc, companies, brexit, seen, told, unhelpful, prices, uks, uk, stop, lawmakers, housebuilder, largest, forward, calls, homes, eu, house, thomas, uncertainty


UK's largest housebuilder calls on lawmakers to move forward with Brexit and stop the uncertainty

Brexit uncertainty is “unhelpful” for those seeking to buy a home and the U.K. Parliament needs to move forward with the country’s departure from the EU, the CEO of the U.K.’s largest housebuilder by volume told CNBC Thursday.

The industry has struggled with the uncertainty surrounding the process of leaving the European Union, mostly when it comes to house purchases. Some buyers believe that prices should be lower due to the lack of clarity as to what will happen to the economy once the U.K. leaves the EU in March. And as a result, some are waiting for a drop in prices before making a decision.

“We definitely recognize that with Brexit there is a lot of uncertainty and clearly from our point of view, we recognize for our customers buying a house is a huge purchase and (the) uncertainty is an unhelpful backdrop,” David Thomas, CEO of Barratt Developments, told CNBC’s “Squawk Box Europe.”

“So we would like to see us moving forward,” Thomas said. “We would see it as positive if we can reach an agreement with the Europe and move forward.”

The U.K. Parliament is due to vote on the country’s withdrawal agreement with the EU on December 11. However, it’s unclear at this stage how the voting will pan out, with many analysts predicting that U.K. lawmakers will reject the agreement.

The U.K. voted to leave the EU on June 23, 2016, and time is running out before the official departure date of March 29, 2019.

U.K. housebuilders have seen a resurgence over the last decade due to ultra-low interest rates aiding their ability to borrow. The last financial crisis also allowed these firms to purchase land at cheaper prices. But the market is still tight in places like London where housebuilding just can’t keep up with demand.

“We have clearly seen long-term trends of rising house prices because we haven’t been building enough homes. You can see from the government or from a Labour party (perspective) that we need to build a lot more homes. Last year we built 200,000 homes, the government said we need to be building 300,000 homes. I think that’s a positive backdrop for a housebuilder,” Thomas said about the prospects for the sector.


Company: cnbc, Activity: cnbc, Date: 2018-11-29  Authors: silvia amaro
Keywords: news, cnbc, companies, brexit, seen, told, unhelpful, prices, uks, uk, stop, lawmakers, housebuilder, largest, forward, calls, homes, eu, house, thomas, uncertainty


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Fewer people shopped during the 5-day Thanksgiving weekend, but holiday sales seen as strong

Ninety-two percent of consumers think the deals they saw during Thanksgiving weekend will either continue or improve for the remainder of the year. And increasingly, consumers are using the five-day holiday weekend to buy for themselves, he added. And more and more of those dollars are being spent online. It’s already been reported that this year a record $6.22 billion was spent online Black Friday, with $3.7 billion spent online Thanksgiving Day. Cyber Monday was the most popular day to shop on


Ninety-two percent of consumers think the deals they saw during Thanksgiving weekend will either continue or improve for the remainder of the year. And increasingly, consumers are using the five-day holiday weekend to buy for themselves, he added. And more and more of those dollars are being spent online. It’s already been reported that this year a record $6.22 billion was spent online Black Friday, with $3.7 billion spent online Thanksgiving Day. Cyber Monday was the most popular day to shop on
Fewer people shopped during the 5-day Thanksgiving weekend, but holiday sales seen as strong Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-27  Authors: lauren thomas, kena betancur, getty images
Keywords: news, cnbc, companies, online, spent, sales, fewer, weekend, day, 5day, stores, shop, nrf, seen, cyber, holiday, shopped, thanksgiving, strong


Fewer people shopped during the 5-day Thanksgiving weekend, but holiday sales seen as strong

With discounts starting early and more days to shop before Christmas this year, fewer people turned out for the five-day shopping extravaganza that runs from Thanksgiving Day to Cyber Monday, a retail industry trade group said Tuesday.

But holiday shoppers still have long lists of gifts to buy and plenty of days to do it, giving the National Retail Federation confidence it will be a robust holiday season.

“This was a very strong holiday weekend … and a very positive indicator of where we are headed,” Bill Thorne, senior vice president for communications and public affairs at NRF, said during a call with members of the media Tuesday afternoon.

More than 165 million Americans shopped either online or in stores from Thanksgiving Day to Cyber Monday this year, down from more than 174 million in 2017, NRF revealed. The industry’s trade group is still calling for holiday sales to increase between 4.3 percent and 4.8 percent, emphasizing Tuesday it expects growth will come on the higher end of that range.

Shoppers say they still have more than half, or 56 percent, of their holiday shopping left to do, NRF found in polling 3,058 consumers between Nov. 24 and 25. Ninety-two percent of consumers think the deals they saw during Thanksgiving weekend will either continue or improve for the remainder of the year.

“Consumers now view the holiday season as two months,” starting around Halloween, Thorne said. And increasingly, consumers are using the five-day holiday weekend to buy for themselves, he added. NRF found self-gifting to be up 13 percent from a year ago.

The average shopper spent $313.29 on gifts and other holiday items from Thanksgiving Day to Cyber Monday, according to NRF, down from $335.47 last year. And more and more of those dollars are being spent online. NRF said more than 89 million people shopped both online and in stores this holiday season, up roughly 40 percent from a year ago.

It’s already been reported that this year a record $6.22 billion was spent online Black Friday, with $3.7 billion spent online Thanksgiving Day. Shoppers are seen turning to their smartphones to make purchases around the holidays, especially younger consumers, as retailers improve their mobile apps. Social media sites such as Instagram, Snapchat and Pinterest are also making it easier for people to shop directly within those apps.

The top destinations for shopping this past weekend, according to NRF’s survey, were department stores (42 percent), online retailers (38 percent) and apparel retailers (30 percent). Cyber Monday was the most popular day to shop online, while Black Friday was the most popular day to shop in stores.


Company: cnbc, Activity: cnbc, Date: 2018-11-27  Authors: lauren thomas, kena betancur, getty images
Keywords: news, cnbc, companies, online, spent, sales, fewer, weekend, day, 5day, stores, shop, nrf, seen, cyber, holiday, shopped, thanksgiving, strong


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Hedge-fund veteran who called recent rout says selling is just getting started

The stock market sell-off is far from over, hedge-fund veteran Mark Yusko told CNBC on Tuesday. The volatile market has seen indexes hit lows not seen in years. During the October sell-off, Yusko said the downward momentum has started. One place is emerging markets, which are “really, really cheap.” They have “great cash flows, rising volumes, great yields,” Yusko said.


The stock market sell-off is far from over, hedge-fund veteran Mark Yusko told CNBC on Tuesday. The volatile market has seen indexes hit lows not seen in years. During the October sell-off, Yusko said the downward momentum has started. One place is emerging markets, which are “really, really cheap.” They have “great cash flows, rising volumes, great yields,” Yusko said.
Hedge-fund veteran who called recent rout says selling is just getting started Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-27  Authors: michelle fox
Keywords: news, cnbc, companies, selling, yusko, seen, market, selloff, morgan, called, rout, recent, investment, started, getting, veteran, going, great, really, hedgefund, think


Hedge-fund veteran who called recent rout says selling is just getting started

The stock market sell-off is far from over, hedge-fund veteran Mark Yusko told CNBC on Tuesday.

In fact, he sees a “long path” down between now and 2020.

“This year is going to continue to melt slowly, like a melting ice cube. I think next year, with the economic slowdown, it gets worse — probably double-digit drawdown. The big year is 2020, when the credit bubble starts to blow up,” he said on “Fast Money.”

Yusko is the founder, CEO and chief investment officer of Morgan Creek Capital. The firm is a privately owned investment advisor that provides services to institutional clients as well as pension plans, endowments, foundations and family offices.

“Every company has binged on cheap debt. They’ve over-levered,” Yusko added. “We are going to see a lot of defaults, just like 2002 with Enron and Worldcom. I think it’s going to get ugly.”

U.S. equities are heading to the end of the year with the possibility of ending in negative territory. The S&P 500 is up just 0.32 percent for the year, as of Tuesday’s close.

The volatile market has seen indexes hit lows not seen in years. Stocks had their worst Thanksgiving week since 2011, and in October the Dow Jones Industrial Average ended down 5.1 percent for the month, its biggest one-month fall since January 2016.

During the October sell-off, Yusko said the downward momentum has started. “You’re seeing all the sectors start to roll over one by one,” he said at the time. “It is really hard to make a bullish case at this point.”

However, there are places to hide, he said Tuesday. One place is emerging markets, which are “really, really cheap.” Another is master limited partnerships, or MLPs. They have “great cash flows, rising volumes, great yields,” Yusko said.

He also loves bitcoin long-term. Morgan Creek rolled out a cryptocurrency fund in August.

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Company: cnbc, Activity: cnbc, Date: 2018-11-27  Authors: michelle fox
Keywords: news, cnbc, companies, selling, yusko, seen, market, selloff, morgan, called, rout, recent, investment, started, getting, veteran, going, great, really, hedgefund, think


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