Retired Navy SEAL: Here’s how strong leaders deal with mistakes

Retired Navy SEAL: Here’s how strong leaders deal with mistakes5 Hours AgoTo view this site, you need to have JavaScript enabled in your browser, and either the Flash Plugin or an HTML5-Video enabled browser. Download the latest Flash player and try again. Don’t just blame others for your team’s mistakes, says former Navy SEAL Jocko Willink. Here’s how to take responsibility and be a leader.


Retired Navy SEAL: Here’s how strong leaders deal with mistakes5 Hours AgoTo view this site, you need to have JavaScript enabled in your browser, and either the Flash Plugin or an HTML5-Video enabled browser. Download the latest Flash player and try again. Don’t just blame others for your team’s mistakes, says former Navy SEAL Jocko Willink. Here’s how to take responsibility and be a leader.
Retired Navy SEAL: Here’s how strong leaders deal with mistakes Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-23
Keywords: news, cnbc, companies, willink, teams, flash, mistakes, try, view, enabled, leaders, retired, strong, seal, navy, heres, browser, deal


Retired Navy SEAL: Here's how strong leaders deal with mistakes

Retired Navy SEAL: Here’s how strong leaders deal with mistakes

5 Hours Ago

To view this site, you need to have JavaScript enabled in your browser, and either the Flash Plugin or an HTML5-Video enabled browser. Download the latest Flash player and try again.

Don’t just blame others for your team’s mistakes, says former Navy SEAL Jocko Willink. Here’s how to take responsibility and be a leader.


Company: cnbc, Activity: cnbc, Date: 2019-04-23
Keywords: news, cnbc, companies, willink, teams, flash, mistakes, try, view, enabled, leaders, retired, strong, seal, navy, heres, browser, deal


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Twitter beats analysts’ earnings–Here’s what four experts say is next for the stock

Twitter beats analysts’ earnings–Here’s what four experts say is next for the stock16 Hours AgoTwitter’s first quarter earnings crushed market expectations. The stock surged 17 percent following the news. Four experts weigh in on what the strong numbers mean for the stock’s future.


Twitter beats analysts’ earnings–Here’s what four experts say is next for the stock16 Hours AgoTwitter’s first quarter earnings crushed market expectations. The stock surged 17 percent following the news. Four experts weigh in on what the strong numbers mean for the stock’s future.
Twitter beats analysts’ earnings–Here’s what four experts say is next for the stock Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-23
Keywords: news, cnbc, companies, twitter, weigh, analysts, stock, strong, earningsheres, say, stocks, stock16, surged, beats, quarter, experts


Twitter beats analysts' earnings–Here's what four experts say is next for the stock

Twitter beats analysts’ earnings–Here’s what four experts say is next for the stock

16 Hours Ago

Twitter’s first quarter earnings crushed market expectations. The stock surged 17 percent following the news. Four experts weigh in on what the strong numbers mean for the stock’s future.


Company: cnbc, Activity: cnbc, Date: 2019-04-23
Keywords: news, cnbc, companies, twitter, weigh, analysts, stock, strong, earningsheres, say, stocks, stock16, surged, beats, quarter, experts


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Twitter is proving you can monetize smaller pool of users, says CNBC’s Steve Kovach

Twitter is proving you can monetize smaller pool of users, says CNBC’s Steve Kovach18 Hours AgoSteve Kovach, CNBC’s tech editor, and CNBC’s Julia Boorstin, join “The Exchange” to discuss Twitter’s strong quarterly earnings and what it could mean for other tech stocks announcing earnings this week.


Twitter is proving you can monetize smaller pool of users, says CNBC’s Steve Kovach18 Hours AgoSteve Kovach, CNBC’s tech editor, and CNBC’s Julia Boorstin, join “The Exchange” to discuss Twitter’s strong quarterly earnings and what it could mean for other tech stocks announcing earnings this week.
Twitter is proving you can monetize smaller pool of users, says CNBC’s Steve Kovach Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-23
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Twitter is proving you can monetize smaller pool of users, says CNBC's Steve Kovach

Twitter is proving you can monetize smaller pool of users, says CNBC’s Steve Kovach

18 Hours Ago

Steve Kovach, CNBC’s tech editor, and CNBC’s Julia Boorstin, join “The Exchange” to discuss Twitter’s strong quarterly earnings and what it could mean for other tech stocks announcing earnings this week.


Company: cnbc, Activity: cnbc, Date: 2019-04-23
Keywords: news, cnbc, companies, twitter, steve, week, pool, smaller, users, tech, twitters, strong, kovach, earnings, stocks, cnbcs, monetize, proving


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Twitter CFO Ned Segal: We are open to sensible regulation

Twitter CFO Ned Segal: We are open to sensible regulation20 Hours AgoCNBC’s Julia Boorstin reports on her conversation with Twitter CFO Ned Segal after the company reported strong Q1 earnings.


Twitter CFO Ned Segal: We are open to sensible regulation20 Hours AgoCNBC’s Julia Boorstin reports on her conversation with Twitter CFO Ned Segal after the company reported strong Q1 earnings.
Twitter CFO Ned Segal: We are open to sensible regulation Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: john chiala
Keywords: news, cnbc, companies, twitter, q1, regulation, reported, segal, regulation20, strong, open, reports, ned, cfo, sensible


Twitter CFO Ned Segal: We are open to sensible regulation

Twitter CFO Ned Segal: We are open to sensible regulation

20 Hours Ago

CNBC’s Julia Boorstin reports on her conversation with Twitter CFO Ned Segal after the company reported strong Q1 earnings.


Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: john chiala
Keywords: news, cnbc, companies, twitter, q1, regulation, reported, segal, regulation20, strong, open, reports, ned, cfo, sensible


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J&J’s new ketamine-like depression drug Spravato off to ‘very, very strong start,’ company says

Up to 800 health centers have been approved to administer Johnson & Johnson’s new ketamine-like depression drug, which was cleared for sale last month, and patients are already using it, the company said Tuesday. Spravato, or esketamine, won federal approval March 5 for treatment-resistant depression. It’s similar to ketamine, a sedative known as the club drug “Special K” that’s increasingly being studied and used to treat depression. Acknowledging these factors, the FDA stipulated Spravato must


Up to 800 health centers have been approved to administer Johnson & Johnson’s new ketamine-like depression drug, which was cleared for sale last month, and patients are already using it, the company said Tuesday. Spravato, or esketamine, won federal approval March 5 for treatment-resistant depression. It’s similar to ketamine, a sedative known as the club drug “Special K” that’s increasingly being studied and used to treat depression. Acknowledging these factors, the FDA stipulated Spravato must
J&J’s new ketamine-like depression drug Spravato off to ‘very, very strong start,’ company says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-16  Authors: angelica lavito, janssen global services via ap
Keywords: news, cnbc, companies, strong, york, spravato, patients, drug, depression, jjs, start, month, 800, company, won, health, ketaminelike


J&J's new ketamine-like depression drug Spravato off to 'very, very strong start,' company says

Up to 800 health centers have been approved to administer Johnson & Johnson’s new ketamine-like depression drug, which was cleared for sale last month, and patients are already using it, the company said Tuesday.

Spravato, or esketamine, won federal approval March 5 for treatment-resistant depression. It’s similar to ketamine, a sedative known as the club drug “Special K” that’s increasingly being studied and used to treat depression.

For more on investing in health care innovation, click here to join CNBC at our Healthy Returns Summit in New York City on May 21.

Spravato’s side effects include sedation and dissociation. It also carries the potential risk of misuse and abuse. Acknowledging these factors, the FDA stipulated Spravato must be administered in a medically supervised health-care setting where patients are monitored. Pharmacies, doctor’s offices and clinics also need to be certified.

In a little more than a month, J&J has certified up to 800 sites, putting the company “well on track” with its plans for the year, Jennifer Taubert, executive vice president of pharmaceuticals, told analysts on a call Tuesday discussing first-quarter earnings results. She said a number of patients have received their first dose, with some receiving multiple doses.

“So we believe that we’re off to a very, very strong start with Spravato, and that it is going to be an important growth driver for us,” she said.


Company: cnbc, Activity: cnbc, Date: 2019-04-16  Authors: angelica lavito, janssen global services via ap
Keywords: news, cnbc, companies, strong, york, spravato, patients, drug, depression, jjs, start, month, 800, company, won, health, ketaminelike


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More gains ahead for the market after strong start to 2019, history shows

The U.S. stock market got off to a strong start in 2019, and history shows Wall Street may be in store for more gains, according to data compiled by Ned Davis Research. The S&P 500 rose in each of the first three months of the year, something that had only happened 22 times before, the data shows. A rise of that magnitude would push the S&P 500 to 3,117, well above the all-time high of 2,940.91 set in late September. Stocks rallied in the first quarter of 2019 as the Federal Reserve indicated it


The U.S. stock market got off to a strong start in 2019, and history shows Wall Street may be in store for more gains, according to data compiled by Ned Davis Research. The S&P 500 rose in each of the first three months of the year, something that had only happened 22 times before, the data shows. A rise of that magnitude would push the S&P 500 to 3,117, well above the all-time high of 2,940.91 set in late September. Stocks rallied in the first quarter of 2019 as the Federal Reserve indicated it
More gains ahead for the market after strong start to 2019, history shows Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-15  Authors: fred imbert, gari garaialde, getty images
Keywords: news, cnbc, companies, ahead, history, strong, youtube, wrote, market, 2019, 500, data, gains, start, ned, davis, index, sp, shows


More gains ahead for the market after strong start to 2019, history shows

The U.S. stock market got off to a strong start in 2019, and history shows Wall Street may be in store for more gains, according to data compiled by Ned Davis Research.

The S&P 500 rose in each of the first three months of the year, something that had only happened 22 times before, the data shows. The broad index has followed up those annual starts with an average gain of 7.23% over the next nine months.

A rise of that magnitude would push the S&P 500 to 3,117, well above the all-time high of 2,940.91 set in late September. On Monday, the index traded less than 2% away from its record.

Stocks rallied in the first quarter of 2019 as the Federal Reserve indicated it would not further tighten monetary policy in 2019. Equities also got a lift amid perceived progress in U.S.-China trade talks.

“I do think that trend evidence leans bullish,” Ned Davis, founder of his namesake research firm, wrote in a note Monday. However, he cautioned investors not to make an investment decision solely on historical statistics like these. “My own belief is that people should be suspicious of studies that look ‘too good’ over shortened date ranges.”

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Company: cnbc, Activity: cnbc, Date: 2019-04-15  Authors: fred imbert, gari garaialde, getty images
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Trump ‘giving strong considerations’ to releasing ICE detainees ‘in sanctuary cities only’

“….The Radical Left always seems to have an Open Borders, Open Arms policy – so this should make them very happy!” Trump’s announcement is a near-total reversal by the president of the official position his White House has taken so far. A former DHS official, discussing the White House’s thinking, told NBC News that the plan was dropped when it was deemed “so illegal.” In a statement following the president’s tweet, a White House spokesperson chided Democrats for opposing the plan and said the


“….The Radical Left always seems to have an Open Borders, Open Arms policy – so this should make them very happy!” Trump’s announcement is a near-total reversal by the president of the official position his White House has taken so far. A former DHS official, discussing the White House’s thinking, told NBC News that the plan was dropped when it was deemed “so illegal.” In a statement following the president’s tweet, a White House spokesperson chided Democrats for opposing the plan and said the
Trump ‘giving strong considerations’ to releasing ICE detainees ‘in sanctuary cities only’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-12  Authors: tucker higgins, christina wilkie, kevin lamarque, paul ratjep, afp, getty images
Keywords: news, cnbc, companies, told, statement, working, white, spokesman, cities, sanctuary, releasing, giving, ice, detainees, open, house, considerations, trump, president, strong, plan, states


Trump 'giving strong considerations' to releasing ICE detainees 'in sanctuary cities only'

“….The Radical Left always seems to have an Open Borders, Open Arms policy – so this should make them very happy!” the president wrote in a second tweet.

Trump’s announcement is a near-total reversal by the president of the official position his White House has taken so far.

In a statement Thursday to reporters, a Homeland Security Department spokesman said the plan “was a suggestion that was floated and rejected, which ended any further discussion.”

A former DHS official, discussing the White House’s thinking, told NBC News that the plan was dropped when it was deemed “so illegal.”

In a statement following the president’s tweet, a White House spokesperson chided Democrats for opposing the plan and said they “should be working with the Administration.”

“Democrats say we must have open borders and that illegal immigrants have a right to be in this country at all costs, so they should be working with the Administration to find the best ways to transport those illegal aliens that are already set for release, into communities in their states and districts,” the spokesman, Hogan Gidley, said.

Later Friday, during an event related to 5G deployment, the president said that “we will bring them to sanctuary city areas and let that particular area take care of it, whether it’s a state, or whatever that might be.”

“We can give them an unlimited supply, and let’s see if they’re so happy,” Trump said.

According to The Washington Post, the plan was geared toward delivering political retribution to Democrats including House Speaker Nancy Pelosi, whose San Francisco district was discussed as a target.

Pelosi on Friday told reporters that the plan was “just another notion that is unworthy of the presidency of the United States and disrespectful, the challenges we face as a country, as a people to address who we are — a nation of immigrants.”


Company: cnbc, Activity: cnbc, Date: 2019-04-12  Authors: tucker higgins, christina wilkie, kevin lamarque, paul ratjep, afp, getty images
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Chipmakers’ lousy first-quarter earnings could threaten sector’s strong stock market gains

Semiconductor stocks, up sharply this year on hopes for a China trade deal, could face their day of reckoning during earnings season. But he also said there were doubts circulating about a Chinese trade deal Tuesday, after reports that President Donald Trump could put tariffs on Europe. By the fourth quarter, earnings comparisons are expected to fall by just about 4 percent. “We attribute much of the move to hopes for a US/China trade deal and 2H fundamental inflection. “People are saying it’s C


Semiconductor stocks, up sharply this year on hopes for a China trade deal, could face their day of reckoning during earnings season. But he also said there were doubts circulating about a Chinese trade deal Tuesday, after reports that President Donald Trump could put tariffs on Europe. By the fourth quarter, earnings comparisons are expected to fall by just about 4 percent. “We attribute much of the move to hopes for a US/China trade deal and 2H fundamental inflection. “People are saying it’s C
Chipmakers’ lousy first-quarter earnings could threaten sector’s strong stock market gains Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-09  Authors: patti domm, jason janik, bloomberg, getty images
Keywords: news, cnbc, companies, expected, sectors, market, going, companies, china, gains, lousy, stock, earnings, chipmakers, stocks, deal, quarter, firstquarter, decline, trade, threaten, strong


Chipmakers' lousy first-quarter earnings could threaten sector's strong stock market gains

Semiconductor stocks, up sharply this year on hopes for a China trade deal, could face their day of reckoning during earnings season.

On Tuesday, chip stocks were being sold in a broader market decline, that saw some other tech names, like Apple and Facebook hold onto gains.

The S&P technology sector closed at a record high Monday, and is up about 33% since the market’s Christmas Eve sell-off. Within that sector, semiconductors have been outperforming. The SMH VanEck Vectors Semiconductor ETF is about 3% off its all-time high and very close to its 52-week high. It was trading down 1% Tuesday, but still up nearly 28% year to date.

Chip stocks have made sharp gains this year, even though analysts expect the industry’s earnings to be down 20% for the first quarter and continue to decline this year, according to Refinitiv data. The stocks were trading lower Tuesday, along with the broader market.

“They certainly have ground to give up, and that’s what gets dangerous. When you come into the earnings season with the kind of momentum we’ve seen in some of these high-flying names…whether it’s NVIDIA or Micron…unfortunately you’re on a knife’s edge and there’s a potential for a great deal of volatility,” said Art Hogan, chief market strategist at National Securities.

Analysts say there is a good chance that some chip companies could offer even weaker forward guidance, with demand expected to decline for everything from PCs to smart phones and cars.

“I think there’s some earnings caution building in here,” said Art Cashin, director of floor operations at UBS. But he also said there were doubts circulating about a Chinese trade deal Tuesday, after reports that President Donald Trump could put tariffs on Europe.

But despite Tuesday’s sell-off, the chip stocks have been rising on the view that a turn around could come in the second half of the year.

“Investors have discounted the entire recovery in the back half of they year,” said Dan Niles, founding partner of AlphaOne Capital Partners. “Memory prices continue to go lower and PC demand looks like it will be negative this year…It’s very hard to see these stocks sitting at all-time record highs and knowing earnings are going to be down 25 percent, and we’ve got summer sitting between now and the end of the year. If you were sitting in August and September, you could say people are getting jacked up for holiday sales.”

Chip companies are expected to see earnings drop by 16.5%, then another 20.8% in the second quarter and an 18.4% in the third quarter, according to Refinitiv. The semiconductor equipment companies are expected to see earnings decline 36.4 percent for the first quarter, and the same type of decline is expected in the second quarter, according to Refinitiv data. By the fourth quarter, earnings comparisons are expected to fall by just about 4 percent.

“If companies come out and are cutting their forecast, do the stocks go down? The reaction to earnings will be very telling,” said Niles.

NVIDIA fell 1.4 percent Tuesday. Micron, down just 1 percent on Monday when Cowen downgraded it, was down 2.4 percent Tuesday. It has been downgraded by a number of analysts.

Oppenheimer analysts, in a note, said semiconductorsshares remain sharply higher despite the “raft of estimate cuts” year-to-date. “We attribute much of the move to hopes for a US/China trade deal and 2H fundamental inflection. Near-term visibility remains poor and 2Q expectations appear low, in our view. We remain stock selective.” The Oppenheimer analysts said their top picks are Broadcom, NVIDIA, Marvell Technology and Monolithic Power Systems.

U.S. and Chinese negotiators continue to work on a deal that markets expect would end many of the punitive tariffs put on goods from both countries and despite the selling, there was still a sense a deal could be announced this quarter.

“People are saying it’s China, China, China…At a certain point, we’ll find out. It could be sell the news. That doesn’t fix the issues. That doesn’t fix the issues with global growth. A China deal is not going to make people run out and buy a 5G cell phone,” said Niles.

Source: Refninitiv

Niles said the decline in smart phone sales is a big issue for chips, since 25 percent of chips demand is the smart phone market. He said consumers are waiting for new 5G models. “This year smart phones are going to be down more than they were last year,” he said.

Another 10 percent of chips go into personal computers, which have been in decline since 2012, and 15 percent go into cloud infrastructure. “Cloud vendors are all absorbing huge spending they had last year. That’s going to grow, but it’s going to slow down from last year,” he said.

Automobiles are about 15 percent of end demand, and Niles notes China had its first decline in unit sales ever last year and auto sales are expected to drop again this year.

“When you’re saying most companies are going to come out and report and guide lower, the positives are obviously investors are saying the Fed’s done and we’re going to get a trade deal with China and that’s going to fix everything. I would say not really, the economy was slowing down globally already,” said Niles.


Company: cnbc, Activity: cnbc, Date: 2019-04-09  Authors: patti domm, jason janik, bloomberg, getty images
Keywords: news, cnbc, companies, expected, sectors, market, going, companies, china, gains, lousy, stock, earnings, chipmakers, stocks, deal, quarter, firstquarter, decline, trade, threaten, strong


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Job market bounces back in March with 196,000 gain in payrolls

Six experts on what March’s strong job numbers mean for the US economy 1 Hour Ago | 05:11Job creation posted a solid rebound in March, with nonfarm payrolls expanding by 196,000 and the unemployment rate holding steady at 3.8%, the Bureau of Labor Statistics reported Friday. The unemployment rate met expectations. “Of course, last month’s nosedive was disappointing, especially after December and January had such impressive numbers despite some sizable headwinds. Wage gains fell off the recent st


Six experts on what March’s strong job numbers mean for the US economy 1 Hour Ago | 05:11Job creation posted a solid rebound in March, with nonfarm payrolls expanding by 196,000 and the unemployment rate holding steady at 3.8%, the Bureau of Labor Statistics reported Friday. The unemployment rate met expectations. “Of course, last month’s nosedive was disappointing, especially after December and January had such impressive numbers despite some sizable headwinds. Wage gains fell off the recent st
Job market bounces back in March with 196,000 gain in payrolls Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-05  Authors: jeff cox
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Job market bounces back in March with 196,000 gain in payrolls

Six experts on what March’s strong job numbers mean for the US economy 1 Hour Ago | 05:11

Job creation posted a solid rebound in March, with nonfarm payrolls expanding by 196,000 and the unemployment rate holding steady at 3.8%, the Bureau of Labor Statistics reported Friday.

That was better than the 175,000 Dow Jones estimate and comes after a dismal February that had economists wondering whether the decade-old economic expansion was nearing an end. The unemployment rate met expectations.

“With a strong March employment report now in the books, we’ve gotten some reassurance that the labor market is still strong,” said Steve Rick, chief economist at CUNA Mutual Group. “Of course, last month’s nosedive was disappointing, especially after December and January had such impressive numbers despite some sizable headwinds. But a good March report shows that February was more of an outlier than a canary in the coal mine.”

Wage gains fell off the recent strong pace, increasing just 0.14% for the month and 3.2% year over year, below expectations of the 3.4% pace from last month. The average work week increased by 0.1 hour to 34.5 hours.

A broader gauge of unemployment that also counts discouraged workers and those holding part-time jobs for economic reasons also was unchanged at 7.3%. The measure, known as the “real unemployment rate” is down from 7.9% a year ago.


Company: cnbc, Activity: cnbc, Date: 2019-04-05  Authors: jeff cox
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Strong jobs number dashes recession fears and shows Fed it does not need to move on rates

Treasury yields slipped immediately after the March jobs report’s weaker wage gains, but then rebounded as traders focused on the growth aspects of the job gains. Ed Keon, chief market strategist at QMA, said the wage gains were “solid but a little bit off its peak.” Manufacturing lost 6,000 jobs while big gains were seen in health care, with 49,000 jobs, and professional and technical services, up 34,000. Swonk said she still sees a risk of a recession for next year, but the surprisingly soft F


Treasury yields slipped immediately after the March jobs report’s weaker wage gains, but then rebounded as traders focused on the growth aspects of the job gains. Ed Keon, chief market strategist at QMA, said the wage gains were “solid but a little bit off its peak.” Manufacturing lost 6,000 jobs while big gains were seen in health care, with 49,000 jobs, and professional and technical services, up 34,000. Swonk said she still sees a risk of a recession for next year, but the surprisingly soft F
Strong jobs number dashes recession fears and shows Fed it does not need to move on rates Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-05  Authors: patti domm
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Strong jobs number dashes recession fears and shows Fed it does not need to move on rates

Six experts on what March’s strong job numbers mean for the US economy 1 Hour Ago | 05:11

March’s jobs growthpowered back to a more normal level of 196,000, after February’s weakness, suggesting some of the first-quarter slowdown is fading.

The better-than-expected March payrolls, combined with February’s revised but still shockingly low 33,000 jobs and January’s above trend 312,000, brings the three-month average to a healthy 180,000 jobs per month. That is lower than the 223,000 in 2018, but in line with a solid labor market in a growing economy.

Economists had been expecting 175,000 jobs for March. The unemployment rate remained at 3.8% as expected. One source of weakness in the report was the lower-than-expected wage gain of just 0.1%, following February’s stronger than expected gain of 0.4%.

Overall, however, the March employment report has become the latest in a series of better data this week, including stronger home sales and a pickup in ISM manufacturing activity. Recession fears have been fading as economists have been nudging up their expectations for GDP growth, with some seeing over 2% in the first quarter from earlier forecasts closer to 1% or lower.

“The demise of the U.S. economy has been greatly exaggerated,” said Ward McCarthy, chief financial economist at Jefferies. McCarthy said this year’s first quarter is following the pattern of typically weaker growth at the start of the year followed by a rebound.

Treasury yields slipped immediately after the March jobs report’s weaker wage gains, but then rebounded as traders focused on the growth aspects of the job gains. Stocks traded higher, and the dollar was flattish after fluctuating.

“I think this is a positive number for risk,” said Brian Daingerfield, head of G10 foreign exchange strategy at NatWest. “It’s a good combination of strong employment numbers and soft wage or inflation numbers. It allays concerns about a slowdown in U.S. growth. You have strong growth but not necessarily enough to force a market repricing toward a more hawkish Fed.”

Ed Keon, chief market strategist at QMA, said the wage gains were “solid but a little bit off its peak.”

“I do think that number is likely to rise but not enough to really ignite inflation fears or get the Fed back into hiking mode,” he said. “Overall, it’s a good solid report that should be good for stocks but not as much for bonds.”

Even though fears of a U.S. recession are fading, the growth pace is clearly slower than the more than 3% level in the middle of last year. First-quarter growth was tracking at about 2% and economists expect growth just above 2.5% in the second quarter.

“The pace of gains has slowed. We have seen a slowdown in the pace of job gains, which is to be expected with slower economic growth,” said Diane Swonk, chief economist at Grant Thornton. She also said the shutdown of a GM plant in Ohio was a drag on manufacturing jobs, as she expected. Manufacturing lost 6,000 jobs while big gains were seen in health care, with 49,000 jobs, and professional and technical services, up 34,000.

Swonk said she still sees a risk of a recession for next year, but the surprisingly soft February jobs report was not signaling slowdown. “The bad number for February was a bad number for February. There was still a big weather effect on construction, lots of losses in construction. It was in reaction to the extremely good January. I just look at it as a moving average. The moving average is moving down,” she said.

But while it’s a slower trend, she said the March report was still good. “We’ve got low wage workers still gaining wages and more middle and upper management jobs. That’s good. That’s a better quality overall,” she said.

“We’re back to 2% [growth]. It’s not a recession. This is a healthy labor market, and it means more from the low levels of unemployment we’re at than earlier in cycle, as well,” she said.

In the fed funds futures market, traders continued to bet on a partial rate cut for 2019. Just over a week ago, the market was pricing in a quarter point, or 25 basis points of easing, but that level fell to just 15 basis points of easing, according to Jon Hill, rate strategist with BMO.

The jobs report basically left the market view of the Fed’s stance unchanged, Hill said. The Fed last month had eliminated its forecast for rate hikes this year, and now expects no change in rates for 2019. As market worries about a recession grew in recent weeks, traders looked for more of a rate cut but some of those concerns have been allayed by improving data and progress in U.S.-China trade talks.

“The Fed’s patient stance is cemented by the softer inflation reading but the growth side of this, the jobs gain was healthy,” said Daingerfield.

McCarthy said he was not concerned about the lower wage gain because of the better than expected 0.4% gain in February. He also pointed out that growth in wages for lower paid, nonsupervisory personnel was 0.3% higher in March.

While the economy has clearly slowed from last year’s pace, it is now less at risk of fall to a subtrend growth rate, barring an exogenous shock.

“The risk for the US economy is mostly from a slowdown in the world economy with Brexit, Europe and China worries paramount in the minds of Fed officials,” wrote Chris Rupkey, chief financial economist at MUFG Union Bank. “The US economy continues to remain an island of relative prosperity however, and with the Federal Reserve backing off its gradual pace of rate hikes, the outlook for growth this year is a positive one.”


Company: cnbc, Activity: cnbc, Date: 2019-04-05  Authors: patti domm
Keywords: news, cnbc, companies, gains, rates, report, slowdown, number, growth, rate, economy, market, shows, fears, good, recession, does, need, fed, strong, wage, jobs


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