Google to invest $1 billion in new campus in New York City

Google will invest $1 billion in a new campus in New York City, the company announced on Monday. The new 1.7 million square foot “Google Hudson Square” campus will include two buildings located at 315 and 345 Hudson Street and an office space situated at nearby 550 Washington Street in Manhattan, Google said in a blog post on Monday. The move will expand Google’s presence near the Hudson River in New York City. Google said the Hudson Square campus will be the main location for its New York-based


Google will invest $1 billion in a new campus in New York City, the company announced on Monday. The new 1.7 million square foot “Google Hudson Square” campus will include two buildings located at 315 and 345 Hudson Street and an office space situated at nearby 550 Washington Street in Manhattan, Google said in a blog post on Monday. The move will expand Google’s presence near the Hudson River in New York City. Google said the Hudson Square campus will be the main location for its New York-based
Google to invest $1 billion in new campus in New York City Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-17  Authors: elizabeth schulze, nurphoto, getty images
Keywords: news, cnbc, companies, york, hudson, google, invest, street, city, square, campus, announced, billion, washington


Google to invest $1 billion in new campus in New York City

Google will invest $1 billion in a new campus in New York City, the company announced on Monday.

The new 1.7 million square foot “Google Hudson Square” campus will include two buildings located at 315 and 345 Hudson Street and an office space situated at nearby 550 Washington Street in Manhattan, Google said in a blog post on Monday.

The move will expand Google’s presence near the Hudson River in New York City. Earlier this year, the search giant announced it had purchased shopping and office complex Chelsea Market for $2.4 billion.

Google said the Hudson Square campus will be the main location for its New York-based global business organization. It said the investments in Chelsea and Hudson Square will create capacity to more than double headcount in New York over the next decade. Google currently houses more than 7,000 employees in New York City in a range of teams including Search, Ads, Maps, YouTube and Cloud.

“Our investment in New York is a huge part of our commitment to grow and invest in U.S. facilities, offices and jobs,” Alphabet CFO Ruth Porat said in the blog post.

Google signed lease agreements for the Hudson Street spaces and plans to move into the two buildings by 2020, the company said. It signed a letter of intent for the 550 Washington Street space, where it will move in 2022 once the building is complete.

The news follows Apple’s announcement last week that it will invest $1 billion in a new campus in Austin, Texas and build new sites in Seattle, San Diego and Culver City, California. Amazon announced last month it will open one of its new headquarters in the Long Island City neighborhood of Queens in New York.

Google shares traded roughly 2 percent lower in pre-market and have dropped 2 percent year-to-date.


Company: cnbc, Activity: cnbc, Date: 2018-12-17  Authors: elizabeth schulze, nurphoto, getty images
Keywords: news, cnbc, companies, york, hudson, google, invest, street, city, square, campus, announced, billion, washington


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Britain’s ASOS adds to retail gloom with profit warning

Online fashion group ASOS cut its annual sales growth and profit margin forecasts on Monday, becoming the latest British retailer to highlight a major downturn in November trading, sending its shares sharply lower. The stock was down 36 percent at 0829 GMT, as ASOS’s warning showed that even previously high-flying online-only clothing retailers were not immune to a growing crisis in the UK retail sector. Shares in direct rival Boohoo were down 9 percent, even though it said it was trading in lin


Online fashion group ASOS cut its annual sales growth and profit margin forecasts on Monday, becoming the latest British retailer to highlight a major downturn in November trading, sending its shares sharply lower. The stock was down 36 percent at 0829 GMT, as ASOS’s warning showed that even previously high-flying online-only clothing retailers were not immune to a growing crisis in the UK retail sector. Shares in direct rival Boohoo were down 9 percent, even though it said it was trading in lin
Britain’s ASOS adds to retail gloom with profit warning Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-17  Authors: bloomberg, getty images
Keywords: news, cnbc, companies, previously, group, asos, britains, high, profit, trading, retailer, runup, gloom, adds, retail, warning, street, christmas, clothing, worse


Britain's ASOS adds to retail gloom with profit warning

Online fashion group ASOS cut its annual sales growth and profit margin forecasts on Monday, becoming the latest British retailer to highlight a major downturn in November trading, sending its shares sharply lower.

The stock was down 36 percent at 0829 GMT, as ASOS’s warning showed that even previously high-flying online-only clothing retailers were not immune to a growing crisis in the UK retail sector.

Shares in other British clothing groups fell on a read across to ASOS’s update and fears of poor Christmas trading – Marks & Spencer was down 2.4 percent and Next was down 3.8 percent.

Shares in direct rival Boohoo were down 9 percent, even though it said it was trading in line with expectations.

“We knew the high street was struggling due to structural shifts, but ASOS slashing guidance suggests things are even worse in the run-up to Christmas than previously thought for the sector and the strife extends well beyond the high street,” said Markets.com chief market analyst Neil Wilson.

The gloom in the run-up to Christmas has been building. Last week sportswear retailer Sports Direct said November trading was “unbelievably bad”, while clothing group Bonmarche said it was faring much worse than during the financial crisis.


Company: cnbc, Activity: cnbc, Date: 2018-12-17  Authors: bloomberg, getty images
Keywords: news, cnbc, companies, previously, group, asos, britains, high, profit, trading, retailer, runup, gloom, adds, retail, warning, street, christmas, clothing, worse


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Goldman downgrades Walgreens’ stock to rare ‘sell,’ shares fall

Goldman Sachs downgraded shares of Walgreens to a rare “sell” rating Friday, doubting that the pharmacy chain’s plans to transform its drugstore business will work. Sells are still somewhat rare on Wall Street. Skepticism about Walgreens’ business has intensified this year. Walgreens has discussed a possible deal with Humana, the “Wall Street Journal” reported last month, citing people familiar with the matter. However, Jones worries Walgreens’ current leverage and debt levels could limit the si


Goldman Sachs downgraded shares of Walgreens to a rare “sell” rating Friday, doubting that the pharmacy chain’s plans to transform its drugstore business will work. Sells are still somewhat rare on Wall Street. Skepticism about Walgreens’ business has intensified this year. Walgreens has discussed a possible deal with Humana, the “Wall Street Journal” reported last month, citing people familiar with the matter. However, Jones worries Walgreens’ current leverage and debt levels could limit the si
Goldman downgrades Walgreens’ stock to rare ‘sell,’ shares fall Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-14  Authors: angelica lavito, christopher lee, bloomberg, getty images
Keywords: news, cnbc, companies, stock, business, sent, street, health, fall, goldman, downgrades, jones, shares, wall, pharmacy, drugstore, rare, sell, walgreens


Goldman downgrades Walgreens' stock to rare 'sell,' shares fall

Goldman Sachs downgraded shares of Walgreens to a rare “sell” rating Friday, doubting that the pharmacy chain’s plans to transform its drugstore business will work.

Shares of Walgreens fell by about 4 percent in morning trading Friday. They’re up by about 9 percent this year.

The drugstore chain has struck numerous partnerships, including with health insurer Humana, diagnostics company LabCorp, grocery chain Kroger, package delivery company FedEx and telecom giant Sprint. These are all aimed at boosting traffic to Walgreens’ drugstores, which have watched visits decline as people shop online more.

Goldman analyst Robert Jones said he doesn’t think these partnerships, even if expanded, will help enough to offset declines in Walgreens’ core retail pharmacy business, according to a research note sent to clients Friday. Jones downgraded Walgreens to “sell” from “hold” Friday.

Sells are still somewhat rare on Wall Street. Jones is the only analyst with a sell rating on Walgreens, which has three buys and eight holds, according to TipRanks.

Skepticism about Walgreens’ business has intensified this year. Rival drugstore CVS Health completed its $70 billion acquisition of health insurer Aetna. Amazon entered the prescription drug delivery business this summer when it bought online pharmacy PillPack, spooking investors who sent drugstore stocks tumbling.

Walgreens has discussed a possible deal with Humana, the “Wall Street Journal” reported last month, citing people familiar with the matter. However, Jones worries Walgreens’ current leverage and debt levels could limit the size of a deal Walgreens could make.

Meanwhile, leaders from both political parties, including President Donald Trump, have vowed to lower prescription drug prices. Jones estimates brand inflation could equal half the rate of 2018, which would spell trouble for retailers who he says could face increased reimbursement pressure.


Company: cnbc, Activity: cnbc, Date: 2018-12-14  Authors: angelica lavito, christopher lee, bloomberg, getty images
Keywords: news, cnbc, companies, stock, business, sent, street, health, fall, goldman, downgrades, jones, shares, wall, pharmacy, drugstore, rare, sell, walgreens


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Recession fears are overblown, stocks will hit new highs: Federated

Wall Street angst over a possible recession may be increasing, but one bull refuses to waver. Federated Investors’ Steve Chiavarone believes there’s nothing on the horizon that suggests the 2018 market corrections will become a massive downturn next year. Rather, he sees stocks hitting fresh record highs — citing labor market trends, inflation levels, the Treasury yield curve and credit spreads as key factors contributing to a favorable economic and market environment. “We don’t have any of the


Wall Street angst over a possible recession may be increasing, but one bull refuses to waver. Federated Investors’ Steve Chiavarone believes there’s nothing on the horizon that suggests the 2018 market corrections will become a massive downturn next year. Rather, he sees stocks hitting fresh record highs — citing labor market trends, inflation levels, the Treasury yield curve and credit spreads as key factors contributing to a favorable economic and market environment. “We don’t have any of the
Recession fears are overblown, stocks will hit new highs: Federated Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-14  Authors: stephanie landsman, spencer platt, getty images, michael nagle, bloomberg, picture alliance, kcna, thomas barwick getty images, source, lawrence mcdonald
Keywords: news, cnbc, companies, 20, yield, 2018, fears, street, market, 500, recession, hit, growth, highs, overblown, yearthe, stocks, federated, dont


Recession fears are overblown, stocks will hit new highs: Federated

Wall Street angst over a possible recession may be increasing, but one bull refuses to waver.

Federated Investors’ Steve Chiavarone believes there’s nothing on the horizon that suggests the 2018 market corrections will become a massive downturn next year.

Rather, he sees stocks hitting fresh record highs — citing labor market trends, inflation levels, the Treasury yield curve and credit spreads as key factors contributing to a favorable economic and market environment.

“We don’t have any of the early signs of recession. Yet, we have a market where despite 20 percent earnings growth, the P/Es [price-earnings ratios] have fallen 20 percent,” the fund manager said on CNBC’s “Trading Nation” on Friday. “What that tells us is the market is pricing in recession in 2019. We just don’t think that is going to happen.”

Yet, it appears the Street isn’t convinced.

The major indexes ended the week deep in the red, with the Dow plummeting almost 500 points on Friday mainly due to global growth jitters. It’s now off 2.5 percent so far this year.

The S&P 500, which closed at its lowest level since April, is off more than 12 percent from its all-time high of 2940 hit on September 21 and 2.75 percent for 2018.


Company: cnbc, Activity: cnbc, Date: 2018-12-14  Authors: stephanie landsman, spencer platt, getty images, michael nagle, bloomberg, picture alliance, kcna, thomas barwick getty images, source, lawrence mcdonald
Keywords: news, cnbc, companies, 20, yield, 2018, fears, street, market, 500, recession, hit, growth, highs, overblown, yearthe, stocks, federated, dont


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Main Street America: An overlooked market where China trade war pessimism is growing

The trade war between the United States and China that has roiled global stock markets and raised fears of an economic slowdown is now weighing on small businesses, according to the latest CNBC|SurveyMonkey Small Business Survey. One in five small-business owners do business with China, most by importing Chinese goods and services to the United States. For many, their bottom lines take a hit every time new tariffs are announced. These 20 percent of small-business owners are driving much of the p


The trade war between the United States and China that has roiled global stock markets and raised fears of an economic slowdown is now weighing on small businesses, according to the latest CNBC|SurveyMonkey Small Business Survey. One in five small-business owners do business with China, most by importing Chinese goods and services to the United States. For many, their bottom lines take a hit every time new tariffs are announced. These 20 percent of small-business owners are driving much of the p
Main Street America: An overlooked market where China trade war pessimism is growing Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-13  Authors: laura wronski, senior research scientist, surveymonkey, jon cohen, chief research officer, saul loeb, afp, getty images
Keywords: news, cnbc, companies, war, street, weighing, united, america, pessimism, trade, overlooked, market, businesses, states, owners, china, small, smallbusiness, business, main, growing


Main Street America: An overlooked market where China trade war pessimism is growing

The trade war between the United States and China that has roiled global stock markets and raised fears of an economic slowdown is now weighing on small businesses, according to the latest CNBC|SurveyMonkey Small Business Survey.

One in five small-business owners do business with China, most by importing Chinese goods and services to the United States. For many, their bottom lines take a hit every time new tariffs are announced.

These 20 percent of small-business owners are driving much of the pessimism regarding trade, as they are about twice as likely as everyone else (47 percent vs. 24 percent) to expect their businesses to suffer from trade policy changes in the next 12 months.


Company: cnbc, Activity: cnbc, Date: 2018-12-13  Authors: laura wronski, senior research scientist, surveymonkey, jon cohen, chief research officer, saul loeb, afp, getty images
Keywords: news, cnbc, companies, war, street, weighing, united, america, pessimism, trade, overlooked, market, businesses, states, owners, china, small, smallbusiness, business, main, growing


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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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France’s Macron announces tax cuts, wage increases after violent protests

President Emmanuel Macron on Monday announced wage rises for the poorest workers and tax cuts for pensioners, offering concessions after weeks of often violent protests that have challenged his authority. “We want a France where one can live in dignity through one’s work and on this we have gone too slowly,” Macron said on primetime television. He said people on the minimum wage would see their salaries increase by 100 euros a month from 2019 without extra costs to employers. Pensioners earning


President Emmanuel Macron on Monday announced wage rises for the poorest workers and tax cuts for pensioners, offering concessions after weeks of often violent protests that have challenged his authority. “We want a France where one can live in dignity through one’s work and on this we have gone too slowly,” Macron said on primetime television. He said people on the minimum wage would see their salaries increase by 100 euros a month from 2019 without extra costs to employers. Pensioners earning
France’s Macron announces tax cuts, wage increases after violent protests Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: guillaume souvant, afp, getty images
Keywords: news, cnbc, companies, wage, workers, macron, increases, tax, cuts, taxes, street, protests, spending, social, announces, increase, france, pensioners, frances, violent


France's Macron announces tax cuts, wage increases after violent protests

President Emmanuel Macron on Monday announced wage rises for the poorest workers and tax cuts for pensioners, offering concessions after weeks of often violent protests that have challenged his authority.

In his first national address following two weekends of the worst unrest in France in years, Macron sought to restore calm after accusations that his political methods and economic policies were fracturing the country.

“We want a France where one can live in dignity through one’s work and on this we have gone too slowly,” Macron said on primetime television.

“I ask the government and parliament to do what is necessary.”

The president’s address came 48 hours after protesters fought street battles with riot police in Paris, hurling missiles, torching cars and looting shops.

Macron faces a delicate task: he needs to persuade the middle class and blue-collar workers that he hears their anger over a squeeze on household spending, without being exposed to charges of caving in to street politics.

He said people on the minimum wage would see their salaries increase by 100 euros a month from 2019 without extra costs to employers. Pensioners earning less than 2,000 euros would see recent increase in social security taxes scrapped.

But he also said he would stick to his reform agenda and refused to reinstate a wealth tax.

“We will respond to the economic and social urgency with strong measures, by cutting taxes more rapidly, by keeping our spending under control, but not with U-turns,” Macron said.


Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: guillaume souvant, afp, getty images
Keywords: news, cnbc, companies, wage, workers, macron, increases, tax, cuts, taxes, street, protests, spending, social, announces, increase, france, pensioners, frances, violent


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Amazon reportedly plans to launch its first physical ‘Go’ store outside the US

Amazon is planning its first physical store in the U.K., likely to be in London’s West End shopping district, according to a report in The Telegraph. The newspaper cited anonymous industry sources who said the company is looking for sites between 3,000 and 5,000 square feet in size for the Amazon Go store. The Telegraph’s report said Amazon’s U.S. team was behind the move, which may see the company open a store at Oxford Circus, the junction between London’s Oxford Street and Regent Street.


Amazon is planning its first physical store in the U.K., likely to be in London’s West End shopping district, according to a report in The Telegraph. The newspaper cited anonymous industry sources who said the company is looking for sites between 3,000 and 5,000 square feet in size for the Amazon Go store. The Telegraph’s report said Amazon’s U.S. team was behind the move, which may see the company open a store at Oxford Circus, the junction between London’s Oxford Street and Regent Street.
Amazon reportedly plans to launch its first physical ‘Go’ store outside the US Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: lucy handley
Keywords: news, cnbc, companies, physical, west, outside, uk, amazon, street, telegraphthe, plans, reportedly, store, report, launch, londons, company, oxford


Amazon reportedly plans to launch its first physical 'Go' store outside the US

Amazon is planning its first physical store in the U.K., likely to be in London’s West End shopping district, according to a report in The Telegraph.

The newspaper cited anonymous industry sources who said the company is looking for sites between 3,000 and 5,000 square feet in size for the Amazon Go store.

The Telegraph’s report said Amazon’s U.S. team was behind the move, which may see the company open a store at Oxford Circus, the junction between London’s Oxford Street and Regent Street.


Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: lucy handley
Keywords: news, cnbc, companies, physical, west, outside, uk, amazon, street, telegraphthe, plans, reportedly, store, report, launch, londons, company, oxford


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The bear market is here, and stocks will plunge at least 20 percent, Ned Davis Research warns

This is already a bear market, stocks are plunging at least 20 percent: Ned Davis Research 5:09 PM ET Thu, 6 Dec 2018 | 01:56The wild trading that’s gripped Wall Street may be no ordinary correction. According to Ned Davis Research’s Ed Clissold, a bear market is officially here. A bear market is defined as an environment when overwhelming pessimism sparks a 20 percent drop or more from recent highs. Originally, Clissold called for a bear market to hit Wall Street in 2019, due to jitters over in


This is already a bear market, stocks are plunging at least 20 percent: Ned Davis Research 5:09 PM ET Thu, 6 Dec 2018 | 01:56The wild trading that’s gripped Wall Street may be no ordinary correction. According to Ned Davis Research’s Ed Clissold, a bear market is officially here. A bear market is defined as an environment when overwhelming pessimism sparks a 20 percent drop or more from recent highs. Originally, Clissold called for a bear market to hit Wall Street in 2019, due to jitters over in
The bear market is here, and stocks will plunge at least 20 percent, Ned Davis Research warns Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-09  Authors: stephanie landsman, spencer platt, getty images, tnwa photography, source, david a grogan
Keywords: news, cnbc, companies, plunge, street, market, warns, clissold, stocks, bear, 20, research, thats, high, hit, ned, davis, wall, going


The bear market is here, and stocks will plunge at least 20 percent, Ned Davis Research warns

This is already a bear market, stocks are plunging at least 20 percent: Ned Davis Research 5:09 PM ET Thu, 6 Dec 2018 | 01:56

The wild trading that’s gripped Wall Street may be no ordinary correction.

According to Ned Davis Research’s Ed Clissold, a bear market is officially here.

“If you take this as a typical bear market, not associated with a recession, it’s going to take you down around 20 percent — maybe a little bit more,” the firm’s chief U.S. market strategist told CNBC’s “Futures Now” last week. “That’s what we need to be thinking about over the next several months.”

A bear market is defined as an environment when overwhelming pessimism sparks a 20 percent drop or more from recent highs.

In this case, it would wipe out 588 points from the S&P 500’s all-time high of 2940.91 hit on Sept. 21. The index closed Friday in correction territory at 2,633.08. That’s down 10 percent from the high and 4.6 percent for the week.

Originally, Clissold called for a bear market to hit Wall Street in 2019, due to jitters over interest rate hike risks, U.S.-China trade tensions and slowing growth in earnings and the economy.

However, he decided to move up his forecast due to “severe” technical damage from the October correction. Now, it appears the market may soon get hit with another batch of discouraging news.

“Earnings growth is becoming a front-burner issue. Everybody expected it to slow down next year because we don’t have the benefit of tax cuts. But the slowdown is probably going to be more than expected,” said Clissold.

Earnings revisions have “already started to come down, and that’s going to continue to plague the market for a few more months.”

He may be predicting a deep pullback, but he does not see any signs of a recession. By spring, Clissold said, the pain will be largely behind the Street.

“The average nonrecession bear lasts about seven months. So, that’ll take us into early second quarter, and then we can look for a bottoming process from there,” Clissold said.

Despite the looming trouble, Clissold expects stocks will stage a healthy rally in the second half of 2019 and the market will ultimately see high single-digit to low double-digit gains by the end of next year.


Company: cnbc, Activity: cnbc, Date: 2018-12-09  Authors: stephanie landsman, spencer platt, getty images, tnwa photography, source, david a grogan
Keywords: news, cnbc, companies, plunge, street, market, warns, clissold, stocks, bear, 20, research, thats, high, hit, ned, davis, wall, going


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Asian stocks stumble, following Wall Street plunge

Stocks in Asia traded down Wednesday morning after an overnight plunge on Wall Street as investors worried about a potential economic slowdown and the state of the U.S.-China trade war. The mainland Chinese markets, closely watched in relation to Beijing’s ongoing dispute with Washington, remained cautious by the end of the morning session. The Caixin Services Purchasing Managers’ Index, which measures economic activity in China’s services sector, rose to 53.8 in November — its highest in five m


Stocks in Asia traded down Wednesday morning after an overnight plunge on Wall Street as investors worried about a potential economic slowdown and the state of the U.S.-China trade war. The mainland Chinese markets, closely watched in relation to Beijing’s ongoing dispute with Washington, remained cautious by the end of the morning session. The Caixin Services Purchasing Managers’ Index, which measures economic activity in China’s services sector, rose to 53.8 in November — its highest in five m
Asian stocks stumble, following Wall Street plunge Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-05  Authors: eustance huang
Keywords: news, cnbc, companies, chinese, xi, composite, asian, ministry, morning, stocks, stumble, index, economic, chinas, wall, worried, street, plunge, services, following


Asian stocks stumble, following Wall Street plunge

Stocks in Asia traded down Wednesday morning after an overnight plunge on Wall Street as investors worried about a potential economic slowdown and the state of the U.S.-China trade war.

The mainland Chinese markets, closely watched in relation to Beijing’s ongoing dispute with Washington, remained cautious by the end of the morning session. The Shanghai composite declined 0.21 percent while the Shenzhen composite was largely flat.

The Caixin Services Purchasing Managers’ Index, which measures economic activity in China’s services sector, rose to 53.8 in November — its highest in five months — as compared to 50.8 in October.

Earlier in the day, China’s Ministry of Commerce said in a statement on its website that the weekend meeting between Trump and Chinese President Xi Jinping was successful. The ministry also said the two countries will push ahead with negotiations within 90 days, and Beijing will work to address issues agreed upon as quickly as possible.

Meanwhile, the Hang Seng index in Hong Kong also fell by 1.54 percent. Shares of vehicle maker Baic Motor dropped 9.29 percent following a Bloomberg report that Germany’s Daimler is considering increasing its stake in its joint venture with the Chinese firm.


Company: cnbc, Activity: cnbc, Date: 2018-12-05  Authors: eustance huang
Keywords: news, cnbc, companies, chinese, xi, composite, asian, ministry, morning, stocks, stumble, index, economic, chinas, wall, worried, street, plunge, services, following


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