Traders hold out hope for a late-day market rescue: ‘One Trump tweet can change everything’

Stocks are tanking as investors fear an escalation of the U.S.-China trade war, but many market pros believe there’s a rescue plan that could calm the market. That “rescue” has to do with what the Trump administration will say about the tariffs on $200 billion in goods that are expected to be raised to 25% from 10% just after midnight. “There’s going to be an announcement. But State Street’s Michael Arone said the Trump administration can still move forward with tariffs but then take its time im


Stocks are tanking as investors fear an escalation of the U.S.-China trade war, but many market pros believe there’s a rescue plan that could calm the market. That “rescue” has to do with what the Trump administration will say about the tariffs on $200 billion in goods that are expected to be raised to 25% from 10% just after midnight. “There’s going to be an announcement. But State Street’s Michael Arone said the Trump administration can still move forward with tariffs but then take its time im
Traders hold out hope for a late-day market rescue: ‘One Trump tweet can change everything’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-09  Authors: patti domm, spencer platt, getty images
Keywords: news, cnbc, companies, change, hold, administration, tariffs, hope, trade, rescue, theres, going, trump, traders, lateday, yield, think, china, market


Traders hold out hope for a late-day market rescue: 'One Trump tweet can change everything'

Stocks are tanking as investors fear an escalation of the U.S.-China trade war, but many market pros believe there’s a rescue plan that could calm the market.

That “rescue” has to do with what the Trump administration will say about the tariffs on $200 billion in goods that are expected to be raised to 25% from 10% just after midnight. President Donald Trump first warned of the tariffs in tweets on Sunday, when he said China was attempting to renegotiate aspects of trade talks.

“I think that’s the most likely thing by the end of the day, pushing off tariffs,” said Peter Boockvar, chief investment strategist at Bleakley Advisory Group. “There’s going to be an announcement. I have to believe by the end of the day, they’re going to say, they’re going to continue this conversation for the next few weeks and put the tariffs on hold.”

But if there is no announcement, analysts expect more selling.

Just after midday, Trump said that he had received a letter from China President Xi Jinping and would probably be speaking with him soon. He also said that he had an “excellent alternative”, without providing details. The Dow erased more than 100 points in losses and was down about 175 after Trump made the comments to reporters after a White House event.

U.S. Trade Representative Robert Lighthizer and other members of the Trump administration are expected to have dinner with China’s Vice Premier Liu He, who until Thursday was seen as the potential ‘deal closer’ but now no deal is expected this evening. Liu He reportedly no longer has the title of “special envoy.”

“There’s a lot of conflicting things out there…There’s rumors the vice premier’s power has been limited,” said Art Cashin, director of floor operations at UBS. “You’re living in a world where one Trump tweet can change everything.”

The Dow was down as much as 449 points in mid morning trading, and Cashin said there’s some thinking in the market that Trump will take some action to stop the decline. He noted that he tweeted positive comments about China’s commitment to a deal Wednesday, which helped temporarily lift stocks.

The bond market, meanwhile was seeing a surge of buying, which drove the 10-year yield to 2.43% and its yield is now lower than that of the 3-month bill. That is called an inverted yield curve, meaning the longer dated security yield is below the shorter, and it has been a reliable sign of pending recession if it remains inverted. It had been inverted earlier this year, but reversed on better economic data and signs trade talks were progressing.

“I think there’s a general feeling here…the bears are a little nervous he’s going to come in and say something, like conversations are cooperating and maybe we can postpone this for a week, or something like that, and it could have an impact on the market,” said Cashin.

But State Street’s Michael Arone said the Trump administration can still move forward with tariffs but then take its time implementing them.

“If they have dinner, and the U.S. side isn’t satsified with the Chinese response, and they pursue the tariffs beginning at 12:01, I still think in the end, over the next few weeks, the two sides will hash out some kind of mutual agreement where they can move forward. Both sides do not want a prolonged trade war,” said Arone, Chief Investment Strategist for State Street Global Advisors.

Arone said the market is likely to continue selling if it looks like negotiations will be extended for a lengthy period. “If it’s concluded that the U.S. and China will not reach a trade agreement any time soon, you could have your typical correction, between 5 and 8%. That’s not my expectation. I think cooler heads will prevail,” he said.

Quincy Krosby, chief market strategist at Prudential Financial. Krosby said the market is hoping to hear that nobody walked out of talks and that the negotiations will continue.

“There’s just too much uncertainty embedded in these negotiations. You could just sit there in cash and wait,’ said Krosby, who said the market is watching for comments from the trade representative for a better read on the situation.

“When the doves from the administration communicate optimism, the market has grown weary of that. [Investors] are actually following Lighthizer,” she said, noting there is talk that he has been meeting with members of Congress to discuss the talks and tariffs.

Analysts have said the increase in tariffs, and any retaliatory response from China, threatens to hurt the global economy and corporate profits, making stocks around the world appear overpriced. The impact would be less on the U.S. economy, but there is concern the situation will escalate and Trump also threatened to put tariffs on another $300 billion of Chinese goods, though the administration has taken no action on that.

Arone said Trump no doubt was empowered by the strength of the U.S. market, and the fact that until this week, stocks were near highs. He said he didn’t put a lot of faith in a report that the Chinese felt emboldened by Trump’s tweet calling for a Fed rate cut because it made the U.S. economy look weak.

“More likely to have happened is Trump felt like this economy grew more quickly in the first quarter, the employment numbers prior to his tweets over the weekend were very strong. The rumor I was hearing was Lighthizer and folks suggested China was backing away from their previous pormises, and Trump reacted,” he said.


Company: cnbc, Activity: cnbc, Date: 2019-05-09  Authors: patti domm, spencer platt, getty images
Keywords: news, cnbc, companies, change, hold, administration, tariffs, hope, trade, rescue, theres, going, trump, traders, lateday, yield, think, china, market


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NYC measles outbreak worsens as infections near 400, including 2 pregnant women

Almost 400 people in New York City have contracted measles since the outbreak began in October, according to new data from the New York City Health Department. Two pregnant women have also contracted the infection, including one in the past month, city officials said. Most cases are still coming out of an outbreak in Brooklyn’s Williamsburg and Borough Park neighborhoods. “These cases are stark reminders of why New Yorkers must get vaccinated against the measles as soon as possible. Experts worr


Almost 400 people in New York City have contracted measles since the outbreak began in October, according to new data from the New York City Health Department. Two pregnant women have also contracted the infection, including one in the past month, city officials said. Most cases are still coming out of an outbreak in Brooklyn’s Williamsburg and Borough Park neighborhoods. “These cases are stark reminders of why New Yorkers must get vaccinated against the measles as soon as possible. Experts worr
NYC measles outbreak worsens as infections near 400, including 2 pregnant women Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: jessica bursztynsky, spencer platt, getty images news, getty images
Keywords: news, cnbc, companies, women, outbreak, 400, city, worsens, cases, infections, york, yorkers, risk, nyc, health, including, near, pregnant, williamsburg, measles, vaccinated


NYC measles outbreak worsens as infections near 400, including 2 pregnant women

Almost 400 people in New York City have contracted measles since the outbreak began in October, according to new data from the New York City Health Department.

Thirty one new cases have been confirmed in the last week, health officials said Wednesday, bringing the city’s total to 390 over the last several months. Two pregnant women have also contracted the infection, including one in the past month, city officials said.

Most cases are still coming out of an outbreak in Brooklyn’s Williamsburg and Borough Park neighborhoods. Williamsburg, where 323 cases have been reported, is home to a tightly-knit Orthodox Jewish population, where vaccine hestitancy is rising.

“These cases are stark reminders of why New Yorkers must get vaccinated against the measles as soon as possible. When we do not get vaccinated, we put our friends, our relatives, our neighbors, our classmates and other fellow New Yorkers at risk,” Health Commissioner Dr. Oxiris Barbot said in a statement.

New York City Mayor Bill de Blasio declared a public health emergency April 9 and ordered all people in certain neighborhoods to get vaccinated or face a $1,000 fine. The city has issued summonses to 12 people for failing to comply with the city’s order.

Experts worried the start of Passover this past weekend could increase the risk of spreading measles as families gathered for the eight-day holiday.

“Currently, the outbreak remains intensely focused in Williamsburg where vaccination rates must continue to improve,” Deputy Commissioner Dr. Demetre Daskalakis said in a statement.


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: jessica bursztynsky, spencer platt, getty images news, getty images
Keywords: news, cnbc, companies, women, outbreak, 400, city, worsens, cases, infections, york, yorkers, risk, nyc, health, including, near, pregnant, williamsburg, measles, vaccinated


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Apple CEO Tim Cook: Europe is leading the U.S. when it comes to tech regulation

Apple CEO Tim Cook said on Tuesday that regulation in technology is becoming increasingly important, but he doesn’t trust U.S. lawmakers to take a smart approach. While European regulators have been aggressive at trying to protect consumers, “U.S. business thinks all regulation is bad regulation,” he said. Cook did not name Google and Facebook, but he has been critical of their business models in the past. Cook has also called for the Federal Trade Commission to form a “data-broker clearinghouse


Apple CEO Tim Cook said on Tuesday that regulation in technology is becoming increasingly important, but he doesn’t trust U.S. lawmakers to take a smart approach. While European regulators have been aggressive at trying to protect consumers, “U.S. business thinks all regulation is bad regulation,” he said. Cook did not name Google and Facebook, but he has been critical of their business models in the past. Cook has also called for the Federal Trade Commission to form a “data-broker clearinghouse
Apple CEO Tim Cook: Europe is leading the U.S. when it comes to tech regulation Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: kif leswing, spencer platt, getty images, source
Keywords: news, cnbc, companies, data, europe, comes, ceo, gdpr, right, business, privacy, google, leading, apple, cook, need, regulation, tim, facebook, tech


Apple CEO Tim Cook: Europe is leading the U.S. when it comes to tech regulation

Apple CEO Tim Cook said on Tuesday that regulation in technology is becoming increasingly important, but he doesn’t trust U.S. lawmakers to take a smart approach.

At a Time Magazine conference on Tuesday, Cook said that Europe’s GDPR (General Data Protection Regulation), which aimed to give consumers greater control over their data, was a good first step though it doesn’t go far enough. He’s skeptical of the U.S. pushing in the right direction because of the anti-regulation positions taken by American businesses.

“I’m not confident, is the short version of the statement,” Cook said, when asked how confident he is that the U.S. would come up with smart, non-destructive regulations. “I think this an example where Europe is more likely to come up with something. GDPR isn’t ideal but GDPR is a step in the right direction.”

Cook has been stressing the need for regulation of late, which is often self-serving because unlike tech giants such as Google and Facebook, Apple’s existing business wouldn’t be threatened by enhanced privacy requirements. In an op-ed in Time in January, Cook called on Congress to pass “comprehensive federal privacy legislation,” a theme he continued to stress at the conference on Tuesday.

“We all have to be intellectually honest,” Cook said. “We have to admit that there’s something we’re doing isn’t working and that the technology needs to be regulated. There are now too many examples where ‘no rails’ have resulted in great damage to society.”

While European regulators have been aggressive at trying to protect consumers, “U.S. business thinks all regulation is bad regulation,” he said. “Therefore there’s lots of gravity around not doing something.”

Cook did not name Google and Facebook, but he has been critical of their business models in the past. Cook has also called for the Federal Trade Commission to form a “data-broker clearinghouse” and requiring all data brokers to register.

In Europe, both Google and Facebook have faced significant challenges related to privacy. Facebook was embroiled in a scandal around how Cambridge Analytica, a consultancy, gained the information of 87 million Facebook users. Google has been force to comply with EU laws around “the right to be forgotten,” which require it to delete personal information about users in certain circumstances.

Because the majority of Apple’s revenue comes from selling computer equipment and phones, not by targeting and selling ads, it would need to make fewer changes if comprehensive privacy regulations were enacted.

“I am hopeful and we are advocating strongly for regulation because I do not see another path at this point,” Cook said.

WATCH: Walt Mossberg on Apple’s need for big innovation


Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: kif leswing, spencer platt, getty images, source
Keywords: news, cnbc, companies, data, europe, comes, ceo, gdpr, right, business, privacy, google, leading, apple, cook, need, regulation, tim, facebook, tech


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Investors should be getting ready for an uptrend — not a downturn

The outlook for the global economy, and in turn financial markets, may not be nearly as bleak as the yield curve suggests. The yield curve is clearly an important indicator to look at, though it does not pinpoint the precise timing of a recession. The yield curve inversion between July 2000 and January 2001, for example, was followed by a U.S. recession between March and November 2001. The yield curve inverted again in July 2006 to May 2007 ahead of the global financial crisis in the autumn of 2


The outlook for the global economy, and in turn financial markets, may not be nearly as bleak as the yield curve suggests. The yield curve is clearly an important indicator to look at, though it does not pinpoint the precise timing of a recession. The yield curve inversion between July 2000 and January 2001, for example, was followed by a U.S. recession between March and November 2001. The yield curve inverted again in July 2006 to May 2007 ahead of the global financial crisis in the autumn of 2
Investors should be getting ready for an uptrend — not a downturn Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-11  Authors: michael strobaek, global cio at credit suisse, johannes eisele, afp, getty images, spencer platt
Keywords: news, cnbc, companies, yield, financial, uptrend, recession, curve, getting, ready, major, markets, inversion, downturn, central, structural, look, investors


Investors should be getting ready for an uptrend — not a downturn

We beg to differ. The outlook for the global economy, and in turn financial markets, may not be nearly as bleak as the yield curve suggests.

We estimate the probability of a recession in the U.S. at less than 10% in the next 12 months, less than 20% in two years and just over 30% in three years. Contrary to commonly used models such as that of the New York Fed, our model does not include market data but focuses on structural macro data such as consumption and income balances and central bank accommodation.

The yield curve is clearly an important indicator to look at, though it does not pinpoint the precise timing of a recession. The yield curve inversion between July 2000 and January 2001, for example, was followed by a U.S. recession between March and November 2001. The yield curve inverted again in July 2006 to May 2007 ahead of the global financial crisis in the autumn of 2008.

As the circumstances of each recession are different, it is prudent to look at the bigger picture. First, certain conditions have changed over the past decade: Following the 2008 financial crisis, major central banks introduced significant quantitative easing measures that have moved bond markets and yields to levels where an inversion of the yield curve is more likely now than in previous economic cycles. This diminishes the role of yield curve inversions as a recession bellwether.

Furthermore, other structural macroeconomic factors can potentially signal a recession. It is therefore important to look at labor markets, corporate and consumer debt, the fiscal policy of major central banks, and the state of the Chinese economy, to name just a few. None of these signals currently point to an impending downturn.


Company: cnbc, Activity: cnbc, Date: 2019-04-11  Authors: michael strobaek, global cio at credit suisse, johannes eisele, afp, getty images, spencer platt
Keywords: news, cnbc, companies, yield, financial, uptrend, recession, curve, getting, ready, major, markets, inversion, downturn, central, structural, look, investors


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Stocks making the biggest moves midday: Under Armour, Tesla, Lyft, First Solar & more

Check out the companies making headlines midday Wednesday:Under Armour — Shares of Under Armour rose more than 3% after Citi upgraded its rating on the athletic apparel maker to buy from neutral, saying Under Armour is “growing up” with a “renewed focus on driving profitability.” Tesla — Shares of Tesla rose more than 1% after lawmakers began to push to expand federal tax credits for buyers of electric vehicles. Lyft — Shares of Lyft tumbled nearly 11% following skepticism of the company’s value


Check out the companies making headlines midday Wednesday:Under Armour — Shares of Under Armour rose more than 3% after Citi upgraded its rating on the athletic apparel maker to buy from neutral, saying Under Armour is “growing up” with a “renewed focus on driving profitability.” Tesla — Shares of Tesla rose more than 1% after lawmakers began to push to expand federal tax credits for buyers of electric vehicles. Lyft — Shares of Lyft tumbled nearly 11% following skepticism of the company’s value
Stocks making the biggest moves midday: Under Armour, Tesla, Lyft, First Solar & more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-10  Authors: yun li, spencer platt, getty images
Keywords: news, cnbc, companies, target, buy, companys, biggest, vehicles, analysts, shares, price, rose, midday, making, tesla, stocks, moves, solar, tax, armour, lyft


Stocks making the biggest moves midday: Under Armour, Tesla, Lyft, First Solar & more

Check out the companies making headlines midday Wednesday:

Under Armour — Shares of Under Armour rose more than 3% after Citi upgraded its rating on the athletic apparel maker to buy from neutral, saying Under Armour is “growing up” with a “renewed focus on driving profitability.”

Tesla — Shares of Tesla rose more than 1% after lawmakers began to push to expand federal tax credits for buyers of electric vehicles. A bipartisan group of lawmakers aims to grant each automaker $7,000 in additional tax credits for an additional 400,000 vehicles after it exhausts the first 200,000 vehicles eligible for the tax credit as per existing laws.

Lyft — Shares of Lyft tumbled nearly 11% following skepticism of the company’s value amidst reports that rival Uber will unveil its public offering on Thursday. New York University professor Aswath Damodaran said Tuesday on CNBC that shares should be trading closer to $59 per share, cutting down $3 billion off the ride-sharing company’s $18 billion valuation. Investors also expect some competition on the public markets very soon from Uber.

First Solar — Shares of First Solar soared more than 8%, on pace for its best day of the year, after Goldman Sachs added the stock to its “Americas Conviction List,” while reiterating its buy rating and raising the stock’s price target to $75 from $64. Goldman highlighted the strong demand from the utility and commercial end markets.

JD.com — Shares of JD.com fell more than 2% after reports came out Wednesday that the Chinese e-commerce company plans to cut up to eight percent of its workforce, or 12,000 jobs. JD spokesperson declined to comment on the job cuts, saying that the company was getting back to “its entrepreneurial roots,” according to the reports.

Advanced Micro Devices – Shares of AMD rose more than 2% after Cowen raised its 12-month price target on the semiconductor to $33 from $28. Cowen analysts said they are “increasingly confident” in Advanced Micro Devices’ product launches this year and its “competitive positioning” against rival Intel.

AmerisourceBergen — Shares of AmerisourceBergen fell more than 4% after analysts from Bank of America downgraded the stock to underperform from buy and lowered the 12-month price target to $76 from $95. Analysts at the bank cited uncertainty for the drug wholesale industry and recent challenges to the company’s biggest customer, Walgreens, for the downgrade.

—CNBC’s Jessica Bursztynsky , Matt Lavietes and Nadine El-Bawab contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-04-10  Authors: yun li, spencer platt, getty images
Keywords: news, cnbc, companies, target, buy, companys, biggest, vehicles, analysts, shares, price, rose, midday, making, tesla, stocks, moves, solar, tax, armour, lyft


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General Electric gets crushed, and there could be more weakness to come

General Electric is on its worst losing streak of the year. “This is a stock we’ve been bearish on for a while and we’re still bearish on and recommend selling.” “What’s notable about [Monday’s] weakness is that it’s occurring below the bearish slope of the stock’s 200-day moving average,” said Wald. “What this is showing is that the near term is lining up with the long-term weakness. Sanchez adds that GE’s turnaround plans will take years to bear fruit, a time frame that could test investors’ p


General Electric is on its worst losing streak of the year. “This is a stock we’ve been bearish on for a while and we’re still bearish on and recommend selling.” “What’s notable about [Monday’s] weakness is that it’s occurring below the bearish slope of the stock’s 200-day moving average,” said Wald. “What this is showing is that the near term is lining up with the long-term weakness. Sanchez adds that GE’s turnaround plans will take years to bear fruit, a time frame that could test investors’ p
General Electric gets crushed, and there could be more weakness to come Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-08  Authors: keris lahiff, scott mlyn, brendan mcdermid, spencer platt, getty images, lucas jackson, kcna, thomas barwick getty images, source, lawrence mcdonald
Keywords: news, cnbc, companies, turnaround, gets, electric, crushed, trading, wald, weakness, come, ge, stock, tusa, general, value, ges, bearish


General Electric gets crushed, and there could be more weakness to come

General Electric is on its worst losing streak of the year.

Its shares tumbled more than 5 percent Monday, its fourth session in the red and its longest stretch of losses since December.

The charts are sending a clear signal to Ari Wald, head of technical analysis at Oppenheimer.

“The technicals are saying to sell it,” Wald said Monday on CNBC’s “Trading Nation.” “This is a stock we’ve been bearish on for a while and we’re still bearish on and recommend selling.”

J.P. Morgan analyst Stephen Tusa is also bearish. His downgrade to sell set off GE’s plunge Monday, its deepest drop since early December. Tusa also cut his price target to $5 from $6.

Wald said one technical indicator suggests more downside to come for GE.

“What’s notable about [Monday’s] weakness is that it’s occurring below the bearish slope of the stock’s 200-day moving average,” said Wald. “What this is showing is that the near term is lining up with the long-term weakness. We see this as a resumption of GE’s long-term downtrend.”

Monday’s sell-off aside, GE has outperformed the market this year. It has roared 48 percent higher off its Dec. 11 bottom and roughly doubled the gains seen across the broader market.

“This recent bounce really is what happens when you get a stock that goes down 67 percent and is trading nearly at option value,” said Gina Sanchez, CEO of Chantico Global, on “Trading Nation” on Monday.

Though GE has raced off its lows, it remains 37 percent below its 52-week high set in May.

Sanchez adds that GE’s turnaround plans will take years to bear fruit, a time frame that could test investors’ patience. GE CEO Larry Culp has targeted 2020 and 2021 as years when the company’s performance will show marked improvement.

“That’s a long time from now and between now and then we’re probably going to have an economic slowdown,” said Sanchez. “It’s not a good environment to be pulling off a turnaround and I think that is really what’s going to keep this stock from bouncing much higher than its option value bounce.”


Company: cnbc, Activity: cnbc, Date: 2019-04-08  Authors: keris lahiff, scott mlyn, brendan mcdermid, spencer platt, getty images, lucas jackson, kcna, thomas barwick getty images, source, lawrence mcdonald
Keywords: news, cnbc, companies, turnaround, gets, electric, crushed, trading, wald, weakness, come, ge, stock, tusa, general, value, ges, bearish


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Four experts on Pinterest as it prepares to go public

Pinterest is prepping for an IPO — Here’s what four experts say about the tech company’s valuation 3 Hours Ago | 02:18Pinterest is prepping to make its debut on the New York Stock Exchange. But its road to going public just hit a speed bump. The social media company’s price range for its initial public offering of $15 to $17 a share values it at $9 billion, roughly $3 billion below its estimated valuation two years earlier. So my sense is that they’re probably coming out a little conservative an


Pinterest is prepping for an IPO — Here’s what four experts say about the tech company’s valuation 3 Hours Ago | 02:18Pinterest is prepping to make its debut on the New York Stock Exchange. But its road to going public just hit a speed bump. The social media company’s price range for its initial public offering of $15 to $17 a share values it at $9 billion, roughly $3 billion below its estimated valuation two years earlier. So my sense is that they’re probably coming out a little conservative an
Four experts on Pinterest as it prepares to go public Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-08  Authors: keris lahiff, brendan mcdermid, scott mlyn, spencer platt, getty images, lucas jackson, kcna, thomas barwick getty images, source, lawrence mcdonald
Keywords: news, cnbc, companies, investors, valuation, experts, came, price, market, pinterest, pricing, going, stock, little, public, prepares


Four experts on Pinterest as it prepares to go public

Pinterest is prepping for an IPO — Here’s what four experts say about the tech company’s valuation 3 Hours Ago | 02:18

Pinterest is prepping to make its debut on the New York Stock Exchange.

But its road to going public just hit a speed bump. The social media company’s price range for its initial public offering of $15 to $17 a share values it at $9 billion, roughly $3 billion below its estimated valuation two years earlier.

Jack Caffrey, portfolio manager at J.P. Morgan, said going public is an adjustment for a company used to being valued in the private marketplace:

“I think investors ultimately have to make sense of what their options are and certainly when we look at IPOs, there’s a lot of art, there’s a little bit of science but a little bit more art in terms of trying to go from pricing very specifically negotiated transactions to actually letting the market opine versus what an informed investor is going to negotiate with the individual management team.”

Phil Orlando, chief equity market strategist at Federated Investors, said it takes a while for investors to find the right price for newly public companies:

“The way the Lyft IPO came the other day with moving the price up and then the stock trading off was very reminiscent of what happened with Facebook a couple of years ago. Same sort of thing. They could have priced it at a better price, they in my opinion got greedy, the stock came down, it came to a point where there was better value and then money started to come in but that process took a couple of months for the whole thing to wash out.”

Kamran Ansari, principal and venture partner at Greycroft Partners, said Pinterest may be purposefully conservative in its pricing:

“IPO pricing is … not precise and sort of like real estate you want to price it at a place that’s attractive and get a lot of offers rather than pricing it too high and then have that home on the market that’s been reduced eight times. So my sense is that they’re probably coming out a little conservative and then we’ll see where the demand comes in.”

Jim Cramer, host of CNBC’s “Mad Money,” is excited for Pinterest’s public debut:


Company: cnbc, Activity: cnbc, Date: 2019-04-08  Authors: keris lahiff, brendan mcdermid, scott mlyn, spencer platt, getty images, lucas jackson, kcna, thomas barwick getty images, source, lawrence mcdonald
Keywords: news, cnbc, companies, investors, valuation, experts, came, price, market, pinterest, pricing, going, stock, little, public, prepares


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Dow starts week with 80-point decline led by Boeing

Stocks fell on Monday as Wall Street digested strong gains from the previous week and looked ahead to the start of the corporate earnings season. Shares of Boeing and General Electric led the decline. Boeing dropped more than 4% after Bank of America Merrill Lynch cut its rating on the aerospace giant to neutral from buy. The bank said it expects production of the 737 Max jet to be delayed by six to nine months. This follows a deadly plane crash from last month that involved a 737 Max plane.


Stocks fell on Monday as Wall Street digested strong gains from the previous week and looked ahead to the start of the corporate earnings season. Shares of Boeing and General Electric led the decline. Boeing dropped more than 4% after Bank of America Merrill Lynch cut its rating on the aerospace giant to neutral from buy. The bank said it expects production of the 737 Max jet to be delayed by six to nine months. This follows a deadly plane crash from last month that involved a 737 Max plane.
Dow starts week with 80-point decline led by Boeing Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-08  Authors: fred imbert, spencer platt, getty images
Keywords: news, cnbc, companies, boeing, max, bank, 737, decline, dow, fell, winning, newton, 80point, industrial, starts, led, week


Dow starts week with 80-point decline led by Boeing

Stocks fell on Monday as Wall Street digested strong gains from the previous week and looked ahead to the start of the corporate earnings season.

The Dow Jones Industrial Average declined by 84 points. The S&P 500 eked out a 0.1% gain at 2,895.75, in danger of snapping a seven-day winning streak, as the industrial sector dipped 0.4%. The Nasdaq Composite ended Monday 0.2% higher.

“Equity trends remain steadfastly bullish but are now getting stretched, and have arrived at near-term areas where resistance could set in,” said Mark Newton, managing member at Newton Advisors. “Momentum is nearing overbought territory yet again after one of the best quarters in over 20 years time, while the groups that have led this rally, namely technology, consumer discretionary and industrials, are now up to levels near prior highs which are thought to be important from a price perspective.”

Shares of Boeing and General Electric led the decline. Boeing dropped more than 4% after Bank of America Merrill Lynch cut its rating on the aerospace giant to neutral from buy. The bank said it expects production of the 737 Max jet to be delayed by six to nine months. This follows a deadly plane crash from last month that involved a 737 Max plane.

GE, meanwhile, fell more than 5% after J.P. Morgan downgraded the stock, noting: “We believe many investors are underestimating the severity of the challenges and underlying risks at GE, while overestimating the value of small positives.”


Company: cnbc, Activity: cnbc, Date: 2019-04-08  Authors: fred imbert, spencer platt, getty images
Keywords: news, cnbc, companies, boeing, max, bank, 737, decline, dow, fell, winning, newton, 80point, industrial, starts, led, week


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After jobs report, the bull narrative is winning the argument and could take market to new highs

The bull narrative is winning the argument, for now. The S&P 500 is about 1.5% from an historic high, and recent data may help make a run at that record. This will reinforce the bull narrative that has come to dominate trading in the past month. You can see the dominance of the bull narrative in the trading action. Bond yields have risen in the last week as traders have become more confident in the bull narrative.


The bull narrative is winning the argument, for now. The S&P 500 is about 1.5% from an historic high, and recent data may help make a run at that record. This will reinforce the bull narrative that has come to dominate trading in the past month. You can see the dominance of the bull narrative in the trading action. Bond yields have risen in the last week as traders have become more confident in the bull narrative.
After jobs report, the bull narrative is winning the argument and could take market to new highs Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-05  Authors: bob pisani, spencer platt, getty images news, getty images
Keywords: news, cnbc, companies, argument, data, report, traders, trade, week, recent, market, winning, bull, highs, china, recession, narrative, trading, jobs


After jobs report, the bull narrative is winning the argument and could take market to new highs

New highs for stocks? The bull narrative is winning the argument, for now.

The S&P 500 is about 1.5% from an historic high, and recent data may help make a run at that record.

Friday’s nonfarm payroll report, with 196,000 new jobs in March, was above expectations and will go a long way toward quelling fears that U.S. jobs growth is slowing significantly after February’s 20,000 print (which has now been revised to up 33,000).

This will reinforce the bull narrative that has come to dominate trading in the past month. The bull narrative is: China and Europe economic weakness is bottoming, there will be a trade deal with little or very low tariffs, earnings growth in the U.S. for 2019 will be in the low-single digits, inflation will be moderate (around 2%), and — most importantly — the chances of a recession in 2020 is very low.

The bear narrative, that China and European economic data has been mixed and does not support claims of a bottom, and that the likelihood of a recession in 2020 is very high, has been losing ground.

You can see the dominance of the bull narrative in the trading action. Globally, China is again the big outperformer up 5% this week as the Shanghai Exchange hits a 52-week high:

Global markets this week:

Shanghai up 5.1%

STOXX 600 up 2.3%

Japan up 2.9%

S&P 500 up 1.6%

Once again, gainers for the week in the U.S. are all cyclicals like semiconductors and industrials, while laggards are defensive names like utilities and consumer staples.

Sector leaders this week:

Semiconductors (SMH) up 5.1%

Banks (KBE) up 4.5%

Industrials up 2.3%

Utilities down 1.2%

Consumer Staples down 1.3%

The Cboe Volatility Index (VIX) is sitting near the lows for the year, a sign traders are not worried about near-term volatility.

Bond yields have risen in the last week as traders have become more confident in the bull narrative.

However, the global slowdown story is not dead. Recent German data has been poor. Overnight, Samsung Electronics said it expects to post a 60% decline in first-quarter operating profit because memory-chip demand has faded. That drop in demand is widely blamed on global trade concerns and weaker smartphone sales that have left chipmakers with a large inventory.


Company: cnbc, Activity: cnbc, Date: 2019-04-05  Authors: bob pisani, spencer platt, getty images news, getty images
Keywords: news, cnbc, companies, argument, data, report, traders, trade, week, recent, market, winning, bull, highs, china, recession, narrative, trading, jobs


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First quarter earnings are expected to be lousy, but the stock market may not care

Stocks could also ride higher on a better outlook for the U.S. economy, after a batch of better data including Friday’s March jobs report. “I think we confirm that 10th anniversary of this bull market by hitting a new all-time high. At that meeting, the Fed released revised forecasts, with no rate hikes now expected in 2019 and a slower growth outlook. On the data front, there are CPI consumer inflation data Wednesday and producer price inflation on Thursday. The European Union Council meets Wed


Stocks could also ride higher on a better outlook for the U.S. economy, after a batch of better data including Friday’s March jobs report. “I think we confirm that 10th anniversary of this bull market by hitting a new all-time high. At that meeting, the Fed released revised forecasts, with no rate hikes now expected in 2019 and a slower growth outlook. On the data front, there are CPI consumer inflation data Wednesday and producer price inflation on Thursday. The European Union Council meets Wed
First quarter earnings are expected to be lousy, but the stock market may not care Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-05  Authors: patti domm, spencer platt, getty images
Keywords: news, cnbc, companies, quarter, end, think, uks, lousy, week, earnings, care, maybe, stock, including, data, union, market, fed, inflation, expected


First quarter earnings are expected to be lousy, but the stock market may not care

Keon said there are risks, including whether there really is a trade deal with China over the next couple of weeks and whether China’s economy is really bottoming. “Is the success of China’s stimulus gong to to continue and spread to other countries? To me, the picture is much brighter than it was a couple months ago,” he said.

Strategists said any number of factors could be the catalyst to push stocks to records, including earnings season, if companies beat lowered guidance and their outlooks are good. Stocks could also ride higher on a better outlook for the U.S. economy, after a batch of better data including Friday’s March jobs report.

“I think maybe we end up getting to a new high sometime early in the second quarter, and then maybe we do some sideways moving in that ‘sell in May’ period,” said Sam Stovall, chief investment strategist at CFRA. “I think we confirm that 10th anniversary of this bull market by hitting a new all-time high. Then we digest some of those gains and move sideways for a bit and let some of those earnings catch up, and then maybe there’s a yearend advance.”

Also in the week ahead, investors are watching for the minutes from the Fed’s last meeting, released Wednesday afternoon. At that meeting, the Fed released revised forecasts, with no rate hikes now expected in 2019 and a slower growth outlook. The minutes should also show what Fed officials were considering when they decided to end the program to roll down their balance sheet, and bond traders are looking for clues on which type of Treasurys the Fed will hold in its balance sheet.

On the data front, there are CPI consumer inflation data Wednesday and producer price inflation on Thursday. Both of these indexes should be closely watched since wage gains were muted in Friday’s March jobs report, and strategists said they see no sign of inflation on the horizon. The Fed also sees below trend inflation, so any unexpected change would be important.

The U.K.’s effort to leave the European Union will continue to make headlines in the week ahead. The European Union Council meets Wednesday, and will consider the U.K.’s request to extend the Brexit deadline, originally this coming Friday.

“It could go in any number of directions. The thing we’ve been telling people is if it’s a messy, hard Brexit, the big difference between now and three years ago is you’d get a big chunk of that safe haven flow into U.S. dollars,” said Michael Schumacher, director, rate strategy at Wells Fargo. Schumacher said investors would be more inclined to move into the short end of the Treasury curve, rather than into German bunds, which have negative yields.


Company: cnbc, Activity: cnbc, Date: 2019-04-05  Authors: patti domm, spencer platt, getty images
Keywords: news, cnbc, companies, quarter, end, think, uks, lousy, week, earnings, care, maybe, stock, including, data, union, market, fed, inflation, expected


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