Oil rises 2 percent on US-China trade talk optimism

Oil prices rose 2 percent on Wednesday as the extension of U.S.-China talks in Beijing raised hopes that the world’s two largest economies would resolve their trade standoff. U.S. West Texas Intermediate (WTI) crude oil futures were at $50.82 per barrel at 0945 GMT, up $1.04, or 2.09 percent, the first time this year that WTI has topped $50. International Brent crude futures were up $1.09, or 1.86 percent, at $59.81 per barrel. The trade talks in Beijing were carried over into an unscheduled thi


Oil prices rose 2 percent on Wednesday as the extension of U.S.-China talks in Beijing raised hopes that the world’s two largest economies would resolve their trade standoff. U.S. West Texas Intermediate (WTI) crude oil futures were at $50.82 per barrel at 0945 GMT, up $1.04, or 2.09 percent, the first time this year that WTI has topped $50. International Brent crude futures were up $1.09, or 1.86 percent, at $59.81 per barrel. The trade talks in Beijing were carried over into an unscheduled thi
Oil rises 2 percent on US-China trade talk optimism Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-09  Authors: jean-paul pelissier
Keywords: news, cnbc, companies, trade, futures, wti, optimism, beijing, world, talks, 2018, talk, uschina, rises, supply, oil, crude


Oil rises 2 percent on US-China trade talk optimism

Oil prices rose 2 percent on Wednesday as the extension of U.S.-China talks in Beijing raised hopes that the world’s two largest economies would resolve their trade standoff.

U.S. West Texas Intermediate (WTI) crude oil futures were at $50.82 per barrel at 0945 GMT, up $1.04, or 2.09 percent, the first time this year that WTI has topped $50.

International Brent crude futures were up $1.09, or 1.86 percent, at $59.81 per barrel.

Both crude price benchmarks added to Tuesday’s 2 percent gains and have now been on the rise for eight straight days – their longest rally since June 2017.

“After a dreadful December for risk markets, crude oil continues to catch a positive vibe,” said Stephen Innes at futures brokerage Oanda in Singapore, citing tensions between the superpowers which have cast a pall over the world economy.

The trade talks in Beijing were carried over into an unscheduled third day on Wednesday, amid signs of progress on issues including purchases of U.S. farm and energy commodities and increased U.S. access to China’s markets.

“Talks with China are going very well!” U.S. President Donald Trump tweeted, without elaborating. State newspaper China Daily said on Wednesday that Beijing was keen to put an end to its trade dispute with the United States, but that any agreement must involve compromise on both sides.

Citing the trade friction, the World Bank expects global economic growth to slow to 2.9 percent in 2019 from 3 percent in 2018.

“At the beginning of 2018 the global economy was firing on all cylinders, but it lost speed during the year and the ride could get even bumpier in the year ahead,” World Bank Chief Executive Kristalina Georgieva said in a semi-annual report released late on Tuesday.

More fundamentally, oil prices have been receiving support from supply cuts started at the end of 2018 by the Organization of the Petroleum Exporting Countries and allies including Russia.

The OPEC-led cuts are aimed at reining in an emerging supply overhang, in part because U.S. crude output surged by around 2 million barrels per day (bpd) in 2018 to a record 11.7 million bpd.

Official U.S. fuel storage data from the Energy Information Administration is due at 1800 GMT on Wednesday.


Company: cnbc, Activity: cnbc, Date: 2019-01-09  Authors: jean-paul pelissier
Keywords: news, cnbc, companies, trade, futures, wti, optimism, beijing, world, talks, 2018, talk, uschina, rises, supply, oil, crude


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Nancy Pelosi, Chuck Schumer talk government shutdown and Trump border wall

House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer will head to the White House in the afternoon for their third face to face meeting with Trump about the funding stalemate. “[Trump] has chosen a wall over workers,” Pelosi said as she and Schumer stood in front of furloughed employees Wednesday. The president said Wednesday that the “threshold” for him taking that step is failure to reach a border security deal with lawmakers. “In no way did the president’s speech last night mak


House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer will head to the White House in the afternoon for their third face to face meeting with Trump about the funding stalemate. “[Trump] has chosen a wall over workers,” Pelosi said as she and Schumer stood in front of furloughed employees Wednesday. The president said Wednesday that the “threshold” for him taking that step is failure to reach a border security deal with lawmakers. “In no way did the president’s speech last night mak
Nancy Pelosi, Chuck Schumer talk government shutdown and Trump border wall Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-09  Authors: jacob pramuk, alex edelman, afp, getty images
Keywords: news, cnbc, companies, workers, pelosi, security, chuck, senate, schumer, wall, president, border, talk, trump, shutdown, nancy


Nancy Pelosi, Chuck Schumer talk government shutdown and Trump border wall

Democrats shifted their focus to unpaid government workers Wednesday as a partial government shutdown entered its 19th day with no signs of an impasse over President Donald Trump’s proposed border wall breaking.

House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer will head to the White House in the afternoon for their third face to face meeting with Trump about the funding stalemate. After a Tuesday night Oval Office address in which the president described a “humanitarian crisis” and used grisly murder stories to call for tougher immigration restrictions, the Democratic leaders countered by highlighting the roughly 800,000 U.S. employees who face missing paychecks due to the closure.

“[Trump] has chosen a wall over workers,” Pelosi said as she and Schumer stood in front of furloughed employees Wednesday. “The president needs to end his senseless shutdown and reopen the government.”

Their remarks came as the partial shutdown neared the end of its third week and no resolution appeared to take shape. Workers from Transportation Security Administration screeners to border patrol agents will start to miss paychecks Friday if lawmakers cannot reopen the nine unfunded federal departments.

Trump has pushed for more than $5 billion to fund the proposed wall. Before pieces of the government closed last month, he said he would “take the mantle” if funding lapsed.

House Democrats have passed legislation to temporarily reopen the government without wall money. The GOP-held Senate has pledged not to take up the spending bills as Trump threatens to veto them. Both Pelosi and Schumer again urged the Senate to pass the measures on Wednesday.

Trump, for his part, has downplayed the shutdown’s effect on government workers. On Sunday, the former real estate mogul claimed he “can relate” to federal employees who may not be able to pay bills. He said Wednesday that the workers “are terrific patriots and a lot of them agree with what I’m doing.”

“So many of those people are saying, ‘It’s so hard for me, it’s very hard for my family, but Mr. President, you’re doing the right thing,'” Trump claimed.

A top union representative who spoke at an event with Pelosi and Schumer on Wednesday disagreed. U.S. employees are “absolutely, completely and without reservation opposed to this government shutdown lockout,” said J. David Cox, national president of the American Federation of Government Employees.

“We oppose being held hostage. We oppose being collateral damage. We oppose the use of extortion instead of reasoned debate,” said Cox, who leads the largest union representing federal workers.

After Trump’s address and a response from Pelosi and Schumer on Tuesday night, neither Republicans nor Democrats appeared willing to give ground. It is unclear if the latest round of talks Wednesday afternoon among Trump and bipartisan congressional leaders can yield any progress.

Trump teased the possibility of declaring a national emergency at the border to build the wall — which he ultimately did not do Tuesday. The president said Wednesday that the “threshold” for him taking that step is failure to reach a border security deal with lawmakers.

On Wednesday, Schumer said Trump’s “fear mongering isn’t working.”

“In no way did the president’s speech last night make a persuasive or even new case for an exorbitantly expensive border wall,” the New York Democrat said.

Democrats have refused to approve any money for the wall. They have said they will pass funding for border security technology or agents, but not the barrier as Trump describes it.

Both Senate and House Republican leaders have backed Trump. On Wednesday morning, Senate Majority Leader Mitch McConnell said “I cannot think of a legitimate argument why anyone would not support the wall as part of a multi-layered border security issue.”

But some in Senate GOP caucus have wavered from the president’s stance. Republican senators such as Cory Gardner of Colorado, Susan Collins of Maine and Lisa Murkowski of Alaska have shown openness to passing bills to fund agencies other than the Department of Homeland Security while the wall impasse drags on.

Both Gardner and Collins face re-election in 2020 in states Trump lost. While polling has shown Americans blame Trump for the shutdown more than congressional Republicans, a prolonged spat risks creating more problems for GOP lawmakers.

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Company: cnbc, Activity: cnbc, Date: 2019-01-09  Authors: jacob pramuk, alex edelman, afp, getty images
Keywords: news, cnbc, companies, workers, pelosi, security, chuck, senate, schumer, wall, president, border, talk, trump, shutdown, nancy


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Oil prices rise on trade talk optimism, OPEC cuts

U.S. West Texas Intermediate (WTI) crude oil futures were at $48.85 per barrel, up 33 cents, or 0.7 percent. “Crude oil prices have benefited from OPEC production cuts and steadying equities markets,” said Mithun Fernando, investment analyst at Australia’s Rivkin Securities. As a result, U.S. crude oil production rose by a whopping 2 million barrels per day (bpd) last year to a world record 11.7 million bpd. With drilling activity still high, most analysts expect U.S. oil production to rise furt


U.S. West Texas Intermediate (WTI) crude oil futures were at $48.85 per barrel, up 33 cents, or 0.7 percent. “Crude oil prices have benefited from OPEC production cuts and steadying equities markets,” said Mithun Fernando, investment analyst at Australia’s Rivkin Securities. As a result, U.S. crude oil production rose by a whopping 2 million barrels per day (bpd) last year to a world record 11.7 million bpd. With drilling activity still high, most analysts expect U.S. oil production to rise furt
Oil prices rise on trade talk optimism, OPEC cuts Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-08  Authors: getty images
Keywords: news, cnbc, companies, talk, rise, opec, talks, beijing, trade, crude, prices, optimism, oil, markets, worlds, washington, cuts, production


Oil prices rise on trade talk optimism, OPEC cuts

Oil prices rose on Tuesday on hopes that U.S.-Chinese talks in Beijing would bring a halt to trade disputes between the world’s biggest economies, while OPEC-led supply cuts tightened markets.

International Brent crude futures were at $57.77 per barrel at 0113 GMT, up 44 cents, or 0.8 percent from their last close.

U.S. West Texas Intermediate (WTI) crude oil futures were at $48.85 per barrel, up 33 cents, or 0.7 percent.

U.S. Commerce Secretary Wilbur Ross said late on Monday that Beijing and Washington could reach a trade deal that “we can live with” as dozens of officials from the world’s two largest economies held talks in a bid to end their trade dispute that has roiled global markets since last year.

Asian stock markets rose as investors hope Washington and Beijing will reach some sort of agreement.

Despite optimism around the talks in Beijing, some analysts warned that the relationship between Washington and Beijing remained on shaky grounds, and that tensions could flare up again soon.

“We remain concerned about the world’s most important bilateral relationship,” political risk consultancy Eurasia Group said in its 2019 outlook.

“The U.S. political establishment believes engagement with Beijing is no longer working, and it’s embracing an openly confrontational approach … (and) rising nationalist sentiment makes it unlikely that Beijing will ignore U.S. provocations,” Eurasia Group said.

Beyond politics, oil markets are being supported by supply cuts started late last year by a group of producers around the Middle East-dominated Organization of the Petroleum Exporting Countries (OPEC) as well as non-OPEC member Russia.

“Crude oil prices have benefited from OPEC production cuts and steadying equities markets,” said Mithun Fernando, investment analyst at Australia’s Rivkin Securities.

Looming over the OPEC-led cuts, however, is a surge in U.S. oil supply, driven by a steep rise in onshore shale oil drilling and production.

As a result, U.S. crude oil production rose by a whopping 2 million barrels per day (bpd) last year to a world record 11.7 million bpd.

With drilling activity still high, most analysts expect U.S. oil production to rise further this year.

Consultancy JBC Energy said it was likely that U.S. crude oil production was already “significantly above 12 million bpd” by early January.


Company: cnbc, Activity: cnbc, Date: 2019-01-08  Authors: getty images
Keywords: news, cnbc, companies, talk, rise, opec, talks, beijing, trade, crude, prices, optimism, oil, markets, worlds, washington, cuts, production


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Biotech’s breaking out, and here’s why some market experts think an even bigger rally is ahead

Johnson believes the group is about to test some key levels that could point to even more upside. On the Nasdaq biotech index NBI, Johnson points out that the index has retraced much of its correction since Oct. 1 and is poised to bounce back to its 200-day moving average. “That’s really kind of the headwind that these elements are up against,” she said on “Trading Nation.” “The M&A cycle and insider buying [are positives], but you just have to see the actual revisions start to stabilize before


Johnson believes the group is about to test some key levels that could point to even more upside. On the Nasdaq biotech index NBI, Johnson points out that the index has retraced much of its correction since Oct. 1 and is poised to bounce back to its 200-day moving average. “That’s really kind of the headwind that these elements are up against,” she said on “Trading Nation.” “The M&A cycle and insider buying [are positives], but you just have to see the actual revisions start to stabilize before
Biotech’s breaking out, and here’s why some market experts think an even bigger rally is ahead Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-08  Authors: annie pei, getty images, frederic j brown, afp, source, mathieu belanger, kcna, thomas barwick getty images, lawrence mcdonald
Keywords: news, cnbc, companies, experts, johnson, biotech, ahead, revisions, rally, market, breaking, bigger, index, talk, biotechs, sector, point, heres, start, trading, think, really


Biotech's breaking out, and here's why some market experts think an even bigger rally is ahead

The biotech rally may be just getting started.

That’s according to Piper Jaffray technician Craig Johnson after the biotech-tracking ETF IBB rallied more than 3 percent on Monday on yet more merger talk in the space.

Johnson believes the group is about to test some key levels that could point to even more upside.

On the Nasdaq biotech index NBI, Johnson points out that the index has retraced much of its correction since Oct. 1 and is poised to bounce back to its 200-day moving average. That will be the next resistance for NBI, he said.

If it does hit that average, “it’s going to set the shares in the index up for a move back toward the old highs,” Johnson said Monday on CNBC’s “Trading Nation.”

Johnson noted that many biotech names are also starting to recapture their 50-day moving averages, and he said a “pickup in momentum” as they do so could point to an even bigger breakout.

But Chantico Global CEO Gina Sanchez sees some fundamental concerns with the space. While she agrees that the latest cycle of deal talk and an increase of insider buyer are positive for the sector, ultimately the negative revisions and news facing the group could temper the rally.

“That’s really kind of the headwind that these elements are up against,” she said on “Trading Nation.”

“The M&A cycle and insider buying [are positives], but you just have to see the actual revisions start to stabilize before you can really feel confident about this sector.”

The sector has had a strong start to the year, surging 10 percent since the first trading day of 2019.


Company: cnbc, Activity: cnbc, Date: 2019-01-08  Authors: annie pei, getty images, frederic j brown, afp, source, mathieu belanger, kcna, thomas barwick getty images, lawrence mcdonald
Keywords: news, cnbc, companies, experts, johnson, biotech, ahead, revisions, rally, market, breaking, bigger, index, talk, biotechs, sector, point, heres, start, trading, think, really


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Cory Booker, Kamala Harris talk to Wall Street about possible 2020 campaign

Wall Street executives have heard from several potential 2020 Democratic candidates for president, including Sens. A CNBC report last week about New York Sen. Kirsten Gillibrand’s outreach to Wall Street triggered outrage on the left. The financier, however, has yet to hear from Harris and Booker about how they would craft a 2020 campaign, this person added. During a recent interview with CNBC’s John Harwood, Brown criticized the influence Wall Street has on Congress. “What’s rotten on Wall Stre


Wall Street executives have heard from several potential 2020 Democratic candidates for president, including Sens. A CNBC report last week about New York Sen. Kirsten Gillibrand’s outreach to Wall Street triggered outrage on the left. The financier, however, has yet to hear from Harris and Booker about how they would craft a 2020 campaign, this person added. During a recent interview with CNBC’s John Harwood, Brown criticized the influence Wall Street has on Congress. “What’s rotten on Wall Stre
Cory Booker, Kamala Harris talk to Wall Street about possible 2020 campaign Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-07  Authors: brian schwartz, tom williams, cq-roll call group, getty images
Keywords: news, cnbc, companies, booker, street, person, according, 2020, talk, harris, gillibrand, possible, campaign, cory, kamala, wall, brown


Cory Booker, Kamala Harris talk to Wall Street about possible 2020 campaign

Wall Street executives have heard from several potential 2020 Democratic candidates for president, including Sens. Cory Booker and Kamala Harris, as recently as last month, CNBC has learned.

The latest developments come as the Democrats’ campaign to unseat Republican Donald Trump begins a year before the first contests of the presidential primary season, with contenders attempting to line up backing from donors and fundraisers.

The revelation of communication between Wall Street donors and possible Democratic candidates threatens to exacerbate tension between the liberal wing of the party, which is increasingly outspoken against the influence of corporate money in politics, and moderates who are seen as more business-friendly. A CNBC report last week about New York Sen. Kirsten Gillibrand’s outreach to Wall Street triggered outrage on the left.

Billionaire and Blackstone Chief Operating Officer Jonathan Gray; Robert Wolf, CEO and founder of economic advisory firm 32 Advisors, and Mark Gallogly, a founder of private investment firm Centerbridge Partners, are just a few of the Democratic financiers who have spoken with 2020 hopefuls about a wide range of topics, including the upcoming campaign, according to people with direct knowledge of the matter.

Wolf, a former advisor to former President Barack Obama, including as a member of the President’s Economic Recovery Advisory Board, said he had been in touch with 2020 hopefuls — but declined to name the individual lawmakers.

“I am meeting with possible candidates often but don’t want to name names until he or she announces,” Wolf said in a text message to CNBC.

However, people familiar with the talks say Wolf’s contact list has included Gillibrand, along with New Jersey’s Booker and California’s Harris. Wolf has a history of backing the three senators. He wrote a check to Gillibrand for $2,700 in 2018 and donated to Harris’ campaign in 2016. In 2014, he backed Booker’s Senate campaign.

Wolf did not return follow-up requests for comment, and a spokeswoman for Harris did not return repeated requests for comment.

Booker also recently met with a top New York donor who described the encounter to CNBC on the condition of anonymity. “I had tea a while ago with Cory,” this person said. “The meetings aren’t officially about running, but of course they are about running in 2020.” Booker seemed to be trying to see whether this financier could help raise money for a White House run, according to the person.

A spokesman for Booker did not reply to emails requesting comment.

Gray, a billionaire and top Democratic donor, has had numerous private discussions with Gillibrand and other lawmakers who might be looking to jump into the race, according to people familiar with the conversations.

Last year, Gray contributed $2,700 to Gillibrand’s primary and general re-election campaigns, the most an individual donor can give directly to a campaign. In 2015, he donated the same amount to Booker. Gray also gave $600,000 to the Senate Majority PAC, a group dedicated to helping Democrats win the majority in the U.S. Senate, according to Federal Election Commission records.

Representatives for Blackstone and Gillibrand declined to comment.

Gallogly, another former member of Obama’s Economic Recovery Advisory Board, has spoken with some of the same senators, according to people with direct knowledge of the exchanges. Gallogly has been in contact through email and other means with Gillibrand, and almost every other possible candidate considering a run for the White House, a person with direct knowledge of the matter said. The financier, however, has yet to hear from Harris and Booker about how they would craft a 2020 campaign, this person added.

Sen. Sherrod Brown, D-Ohio, a vocal critic of Wall Street who is considering a run for the White House, thanked Gallogly for his support in a voicemail after he won his re-election campaign in 2018, according to a person familiar with the outreach, but the two have not been in touch about the 2020 election. Gallogly gave at least $2,700 to Brown’s campaign committee. Brown is the ranking member of the Senate Banking Committee.

A person close to Brown insisted that the senator has not been seeking Wall Street backers. The person added that the senator will continue to work the national fundraising circuit regardless of whether he runs for president, because Ohio is a battleground state that will be saturated with campaign ads. Trump won Ohio in 2016, after Obama won the state in 2008 and 2012.

“I can guarantee you Wall Street hates the idea of a Sherrod Brown White House,” the person close to the senator said.

During a recent interview with CNBC’s John Harwood, Brown criticized the influence Wall Street has on Congress.

“What’s rotten on Wall Street is the influence the financial services industry continues to exert on Congress. Whenever they want something, they almost always get it,” Brown said in November.

Gallogly and a spokeswoman for Brown declined to comment.


Company: cnbc, Activity: cnbc, Date: 2019-01-07  Authors: brian schwartz, tom williams, cq-roll call group, getty images
Keywords: news, cnbc, companies, booker, street, person, according, 2020, talk, harris, gillibrand, possible, campaign, cory, kamala, wall, brown


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Trump rages about impeachment talk as Democratic leaders play down the issue

President Donald Trump on Friday wasted no time framing newly empowered Democrats as being committed to his impeachment. Democratic leaders, including Senate Minority Leader Chuck Schumer and House Speaker Nancy Pelosi, have appeared reluctant to discuss whether they would attempt to impeach Trump now that their party just took charge of the House. But try as they might to play down the issue, some Democratic lawmakers started beating the drum for Trump’s impeachment directly after being sworn i


President Donald Trump on Friday wasted no time framing newly empowered Democrats as being committed to his impeachment. Democratic leaders, including Senate Minority Leader Chuck Schumer and House Speaker Nancy Pelosi, have appeared reluctant to discuss whether they would attempt to impeach Trump now that their party just took charge of the House. But try as they might to play down the issue, some Democratic lawmakers started beating the drum for Trump’s impeachment directly after being sworn i
Trump rages about impeachment talk as Democratic leaders play down the issue Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-04  Authors: kevin breuninger, jim young
Keywords: news, cnbc, companies, leaders, issue, president, facts, democrats, house, democratic, trumps, tlaib, rages, impeach, washington, trump, play, talk, impeachment


Trump rages about impeachment talk as Democratic leaders play down the issue

President Donald Trump on Friday wasted no time framing newly empowered Democrats as being committed to his impeachment.

Democratic leaders, including Senate Minority Leader Chuck Schumer and House Speaker Nancy Pelosi, have appeared reluctant to discuss whether they would attempt to impeach Trump now that their party just took charge of the House.

But try as they might to play down the issue, some Democratic lawmakers started beating the drum for Trump’s impeachment directly after being sworn in Thursday.

Freshman Michigan Democrat Rashida Tlaib, one of the first two Muslim women to be elected to Congress, provided the most profane pro-impeachment stance yet. “We’re going to impeach the motherf—–,” she told supporters Thursday night.

A video of the comment was posted on social media, raising a publicity storm. Trump jumped on the talk of his own impeachment in a pair of tweets Friday morning. After appearing to blame Democrats for the previous day’s market sell-off, Trump claimed that Democrats “only want to impeach me because they know they can’t win in 2020, too much success!”

Ten minutes later, Trump rhetorically asked how anyone could impeach a president who has “done nothing wrong” and “is the most popular Republican in history.”

Some of Trump’s supporters view the issue as a boon to his 2020 re-election bid, and a fitting strategy for a candidate who has seen great success asserting himself as the most-wanted target of his political enemies.

While running for president in 2016, Trump repeatedly decried the campaign process as being rigged and biased against him in favor of his Washington insider opponent, Hillary Clinton. Even after winning that election, Trump has consistently claimed that he is the victim of disloyal allies in his own administration, a “deep state” Washington bureaucracy fighting his disruptive persona behind the scenes, and a “phony witch hunt” perpetrated by special counsel Robert Mueller through an ongoing investigation of election meddling and possible Russian collusion with Trump associates.

Many prominent Democrats, on the other hand, have taken pains to avoid the subject of impeachment, fearing that such a strategy would backfire and end up increasing support for Trump.

Pelosi, for instance, refused to take the bait when asked in December what “repercussions” Trump ought to face after his ex-personal lawyer Michael Cohen implicated the president in campaign-finance crimes involving hush-money payments to two women during the 2016 campaign.

In an interview with USA Today the day she was elected speaker of the House, Pelosi said “I’m not seeking” grounds for impeaching Trump. But she noted that any impeachment effort would have to be “clearly bipartisan” — setting a sky-high bar to even consider such an action.

Schumer, too, has scrupulously avoided answering calls from Democratic voters to impeach Trump. After Schumer gave a gung-ho response in September to a question about when Trump would be impeached — “the sooner the better,” he said — his spokesman reportedly claimed that the minority leader had misunderstood the question.

Even House Intelligence Committee Chairman Adam Schiff, D-Calif., who has carved out a reputation as one of Trump’s leading critics and most relentless watchdogs in Washington, reportedly said that raising the specter of impeachment only helps Trump “because he knows it energizes his base.”

Rep. Jerry Nadler, D-N.Y., said in a CNN interview Friday morning that “It is too early to talk about” impeaching Trump “intelligently.”

“We have to get the facts and we’ll see where the facts lead. Maybe that will lead to impeachment, maybe it won’t, but it’s much too early and we don’t have all of the facts and must have the facts,” said Nadler, the new chairman of the House Judiciary Committee, which plays a crucial role in impeachment proceedings.

Nadler and other Democrats have sought other means of combating Trump short of jumping to impeachment out of the gate. Those efforts are expected to include re-opening investigations related to the president, seeking Trump’s tax returns and protecting the Mueller probe, which Trump has taken aim at in the past.

But other Democrats, including Tlaib and other members of the newly strengthened contingent of ultra liberals, have been much more cavalier.

Tlaib did not shy away from her remarks, which were posted in a video on social media. “Congresswoman Tlaib was elected to shake up Washington, not continue the status quo. Donald Trump is completely unfit to serve as President,” Tlaib’s office said in a statement Friday. “The congresswoman absolutely believes he needs to be impeached.”

The 116th Congress has already seen its first articles of impeachment filed. On Thursday, Rep. Brad Sherman, D-Calif., reintroduced an impeachment resolution against Trump. Multiple Democrats including Sherman had filed articles of impeachment in 2017.

Flanked by progressives’ open advocacy for impeachment on the left and the president’s condemnation on the right, it may soon prove impossible for Democratic leadership to keep mum on the topic.

Pelosi’s next move may be to kick the issue back to Republicans on the hill when asked about impeachment.

“What’s shocking is that the Republicans in the Congress of the United States will not hold him accountable,” Pelosi said at an MSNBC town hall event Friday.

— CNBC’s Tucker Higgins and Jacob Pramuk contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-01-04  Authors: kevin breuninger, jim young
Keywords: news, cnbc, companies, leaders, issue, president, facts, democrats, house, democratic, trumps, tlaib, rages, impeach, washington, trump, play, talk, impeachment


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Should you buy, sell or refinance a home in 2019

As we head into 2019, a complicated landscape in real estate has emerged. For a decade in a rebounding U.S. economy amid cheap loans, home prices have marched steadily higher. That might sound OK if you’re looking to sell a home, but not so fast. And the number of homes for sale is rising, giving shoppers more homes to choose from. Joining Jon Fortt to talk real estate: CNBC’s Diana Olick, Realtor.com CEO Ryan O’Hara and real estate agent Josh Flagg of Bravo’s Million Dollar Listing Los Angeles.


As we head into 2019, a complicated landscape in real estate has emerged. For a decade in a rebounding U.S. economy amid cheap loans, home prices have marched steadily higher. That might sound OK if you’re looking to sell a home, but not so fast. And the number of homes for sale is rising, giving shoppers more homes to choose from. Joining Jon Fortt to talk real estate: CNBC’s Diana Olick, Realtor.com CEO Ryan O’Hara and real estate agent Josh Flagg of Bravo’s Million Dollar Listing Los Angeles.
Should you buy, sell or refinance a home in 2019 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-26  Authors: jonathan kim, jon fortt
Keywords: news, cnbc, companies, sell, refinance, market, homes, sale, estate, buy, sound, youre, talk, higher, steadily, 2019, real


Should you buy, sell or refinance a home in 2019

It’s the most expensive purchase many of us even consider: A place to live.

As we head into 2019, a complicated landscape in real estate has emerged. For a decade in a rebounding U.S. economy amid cheap loans, home prices have marched steadily higher. When the market bottomed in February 2009, the median sale price for a home was $140,000. Last month it was nearly $258,000.

That might sound OK if you’re looking to sell a home, but not so fast. Interest rates are creeping higher, reducing how much buyers can borrow. And the number of homes for sale is rising, giving shoppers more homes to choose from. Are we heading into a healthier housing market? Or a more dangerous one?

Joining Jon Fortt to talk real estate: CNBC’s Diana Olick, Realtor.com CEO Ryan O’Hara and real estate agent Josh Flagg of Bravo’s Million Dollar Listing Los Angeles. Season 11 kicks off January 3.


Company: cnbc, Activity: cnbc, Date: 2018-12-26  Authors: jonathan kim, jon fortt
Keywords: news, cnbc, companies, sell, refinance, market, homes, sale, estate, buy, sound, youre, talk, higher, steadily, 2019, real


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Wall Street’s view on Trump’s talk of firing Fed Chair Jerome Powell: ‘Utter madness’

In October, Trump even went as far as to brand the Fed his biggest threat. In the wake of those remarks, White House Economic Advisor Larry Kudlow downplayed the idea that Trump would move against the Fed chair. In response to an inquiry, White House Press Secretary Sarah Huckabee-Sanders said: “I’m aware of no plans to fire Powell.” In an email to CNBC, Greg Valliere, chief global strategist at Horizon Investments, lambasted the idea as “insane” and “utter madness.” After weeks of extreme volat


In October, Trump even went as far as to brand the Fed his biggest threat. In the wake of those remarks, White House Economic Advisor Larry Kudlow downplayed the idea that Trump would move against the Fed chair. In response to an inquiry, White House Press Secretary Sarah Huckabee-Sanders said: “I’m aware of no plans to fire Powell.” In an email to CNBC, Greg Valliere, chief global strategist at Horizon Investments, lambasted the idea as “insane” and “utter madness.” After weeks of extreme volat
Wall Street’s view on Trump’s talk of firing Fed Chair Jerome Powell: ‘Utter madness’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-22  Authors: javier e david, john melloy, jeff cox, drew angerer, getty images
Keywords: news, cnbc, companies, valliere, white, week, madness, market, talk, president, trump, wall, rates, utter, view, jerome, fed, trumps, powell, streets, firing, secretary


Wall Street's view on Trump's talk of firing Fed Chair Jerome Powell: 'Utter madness'

President Donald Trump’s growing dissatisfaction with Federal Reserve Chairman Jerome Powell could be veering into dangerous territory: Late Friday, Bloomberg News, citing four unnamed sources, reported that Trump has discussed firing the central bank head.

With the Fed embarked on a campaign to tighten monetary policy, the president has repeatedly attacked Powell, reportedly fearful that a volatile market – and the attendant possibility of an economic downturn – could endanger his reelection prospects.

The president – prone as he is to Twitter tirades and harshly criticizing his antagonists – has been extremely vocal about his displeasure with rising interest rates. In October, Trump even went as far as to brand the Fed his biggest threat. In the wake of those remarks, White House Economic Advisor Larry Kudlow downplayed the idea that Trump would move against the Fed chair.

The Fed declined to comment to CNBC on Saturday when asked about the latest development. In response to an inquiry, White House Press Secretary Sarah Huckabee-Sanders said: “I’m aware of no plans to fire Powell.”

According to experts, it’s unlikely that Trump has the legal authority to hand the Fed chair a pink slip even if he wanted to, absent the incumbent committing a serious crime, or being unfit for office. Yet on Saturday, some prominent Wall Street investors had no reservations about weighing in on the suggestion that Powell could be shown the door.

In an email to CNBC, Greg Valliere, chief global strategist at Horizon Investments, lambasted the idea as “insane” and “utter madness.”

“The entire [Fed] board voted unanimously to raise rates. Would Trump try to fire the entire board?,” Valliere wrote, calling the Bloomberg report an “incredible trial balloon.”

The Dow Jones Industrial Average dropped 7 percent this week, its worst week in 10 years, on fears the Fed is unnecessarily slowing the economy as the central bank on Wednesday raised its benchmark interest rate for a fourth time this year. Trade war and government shutdown concerns also weighed on the market.

After weeks of extreme volatility that has driven major U.S. benchmarks to the brink of a bear market, “the market reaction would be catastrophic if he tries to fire Powell,” Valliere said. He also suggested that perhaps Kudlow or even Treasury Secretary Steven Mnuchin could resign in protest.


Company: cnbc, Activity: cnbc, Date: 2018-12-22  Authors: javier e david, john melloy, jeff cox, drew angerer, getty images
Keywords: news, cnbc, companies, valliere, white, week, madness, market, talk, president, trump, wall, rates, utter, view, jerome, fed, trumps, powell, streets, firing, secretary


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‘I’m stunned’ by all the recession talk — Mohamed El-Erian warns against self-fulfilling prophecies

Economist Mohamed El-Erian is warning Wall Street that being overly concerned about an economic recession could actually cause one. “I’m stunned by all this talk of recession,” El-Erian said on CNBC’s “Squawk Box” on Friday. “For us to get into a recession, the rest of the world has got to really slow down dramatically.” While acknowledging signs of weakness in the U.S. economy, El-Erian cautioned, “We’ve got to be careful because we can talk ourselves into a recession. El-Erian believes such wo


Economist Mohamed El-Erian is warning Wall Street that being overly concerned about an economic recession could actually cause one. “I’m stunned by all this talk of recession,” El-Erian said on CNBC’s “Squawk Box” on Friday. “For us to get into a recession, the rest of the world has got to really slow down dramatically.” While acknowledging signs of weakness in the U.S. economy, El-Erian cautioned, “We’ve got to be careful because we can talk ourselves into a recession. El-Erian believes such wo
‘I’m stunned’ by all the recession talk — Mohamed El-Erian warns against self-fulfilling prophecies Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-21  Authors: matthew j belvedere
Keywords: news, cnbc, companies, recession, street, 2018, stunned, market, selffulfilling, mohamed, economy, elerian, williams, rate, talk, going, warns, prophecies, im


'I'm stunned' by all the recession talk — Mohamed El-Erian warns against self-fulfilling prophecies

Economist Mohamed El-Erian is warning Wall Street that being overly concerned about an economic recession could actually cause one.

“I’m stunned by all this talk of recession,” El-Erian said on CNBC’s “Squawk Box” on Friday. “For us to get into a recession, the rest of the world has got to really slow down dramatically.”

While acknowledging signs of weakness in the U.S. economy, El-Erian cautioned, “We’ve got to be careful because we can talk ourselves into a recession. And that’s how bad technicals become bad economics.”

The Commerce Department on Friday said the economy expanded at a solid 3.4 percent annual rate in the third quarter, slightly slower than the previous estimate. Economists see gross domestic product slowing in the fourth quarter to around 2.5 percent. But for all of 2018, GDP is expected to log its best year since 2005.

“It’s really hard to get a recession when the labor market is strong, wages are going up, business investment is going up, [and] government spending is going up,” said El-Erian, Allianz’ chief economic advisor.

Earlier this month, the Labor Department reported slowing job creation in November. But nonfarm payrolls still increased by 155,000, with a steady unemployment rate of 3.7 percent and incremental wage gains.

Some economists are predicting a recession as soon as next year, citing the flattening of the yield curve, when yields on long-term Treasurys approach those of short-term notes.

El-Erian believes such worries are unwarranted and a function of forgetting just “how special” last year was for investors. “Last year was exceptional. We had returns, no volatility, and every single correlation worked for the investor. The average of two years, it doesn’t look that bad.”

El-Erian appeared on CNBC ahead of New York Fed President John Williams telling “Squawk on the Street” on Friday that the central bank is open to rethinking interest rate hikes next year, depending on how the economy looks in 2019. The Fed on Wednesday raised rates for the fourth time in 2018 and projected two, rather than three, increases next year.

Stocks surged during the Williams’ interview but then faded. Thursday’s rout pushed the Dow Jones Industrial Average and S&P 500 further into a correction, defined by declines of 10 percent or more from recent highs. The Nasdaq on Thursday dipped into a bear market, measured by declines of 20 percent or more from recent highs, but closed above that threshold.

The Dow, S&P 500, and Nasdaq are tracking for their worst yearly performance since the 2008 financial crisis. But even as all three market measures were solidly lower for 2018, they were still up double-digits on a percentage basis since the 2016 presidential election.


Company: cnbc, Activity: cnbc, Date: 2018-12-21  Authors: matthew j belvedere
Keywords: news, cnbc, companies, recession, street, 2018, stunned, market, selffulfilling, mohamed, economy, elerian, williams, rate, talk, going, warns, prophecies, im


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Starbucks, Uber CEOs talk new partnership, emphasis on company culture

The new partnership between coffee giant Starbucks and Uber’s delivery division, Uber Eats, came around in part because of Uber’s continued efforts to improve its culture, Uber CEO Dara Khosrowshahi told CNBC on Friday. In a joint “Mad Money” interview with Starbucks President and CEO Kevin Johnson, Khosrowshahi told CNBC’s Jim Cramer that “culture work is never done.” “The fact is that some of the Uber culture was good in that it created an incredible company that grew extraordinarily fast [and


The new partnership between coffee giant Starbucks and Uber’s delivery division, Uber Eats, came around in part because of Uber’s continued efforts to improve its culture, Uber CEO Dara Khosrowshahi told CNBC on Friday. In a joint “Mad Money” interview with Starbucks President and CEO Kevin Johnson, Khosrowshahi told CNBC’s Jim Cramer that “culture work is never done.” “The fact is that some of the Uber culture was good in that it created an incredible company that grew extraordinarily fast [and
Starbucks, Uber CEOs talk new partnership, emphasis on company culture Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-14  Authors: elizabeth gurdus
Keywords: news, cnbc, companies, khosrowshahi, starbucks, ceos, culture, johnson, uber, told, ceo, ubers, emphasis, partners, partnership, talk, company


Starbucks, Uber CEOs talk new partnership, emphasis on company culture

The new partnership between coffee giant Starbucks and Uber’s delivery division, Uber Eats, came around in part because of Uber’s continued efforts to improve its culture, Uber CEO Dara Khosrowshahi told CNBC on Friday.

In a joint “Mad Money” interview with Starbucks President and CEO Kevin Johnson, Khosrowshahi told CNBC’s Jim Cramer that “culture work is never done.”

Still, he said, he believes Uber is in a stronger position now than last year, when Uber’s founder and former CEO Travis Kalanick resigned amid ongoing revelations about widespread problematic behavior throughout the company and its upper ranks. When Khosrowshahi took over, he vowed to repair the company’s “moral compass.”

“The fact is that some of the Uber culture was good in that it created an incredible company that grew extraordinarily fast [and] innovated very quickly,” Khosrowshahi, former CEO of Expedia, told Cramer. “But I think that what happens is success sometimes imprints faster than failure, and sometimes, when you succeed too fast, you don’t take the time to kind of rebuild the frameworks from within.”

“Now, I think we’re at a much better point in time. We get to have partners like Starbucks that are extraordinary partners that we can align with,” the Uber chief continued. “The culture work is never done, but I’m much, much happier where we are today than where we were a year ago.”

Company cultures are top of mind for many investors and consumers at a time of moral reckoning around the world. For Uber, partnering with a company like Starbucks — known for its high moral standards — is a major win as the ride-hailing service readies itself for a potential initial public offering in 2019.

That commitment to social responsibility is what makes Starbucks so successful in China despite flares in the trade dispute between the People’s Republic and the United States, its CEO, Kevin Johnson, told Cramer from Starbucks’ newest Roastery in downtown Manhattan.

“We’ve always been a company that invests in our partners and takes care of our partners,” Johnson said, referring to his 250,000-plus employees around the world.

“As we talked to our Starbucks partners in China, one of the things that they said was important to them was being able to care for their aging parents,” the CEO said. “So we created a completely new form of insurance, which is parental illness insurance to help with catastrophic illness of parents. And now our partners have that ability to take care of their parents. It really is a family-oriented culture.”

Starbucks shares shed 2.35 percent on Friday amid marketwide weakness, settling at $65.34. At its investor meeting on Thursday, Starbucks lowered its long-term earnings forecast, but highlighted some of what management saw as its more promising growth strategies, including its delivery partnerships with Uber Eats in the U.S. and Alibaba in China.

To read the transcript from Johnson and Khosrowshahi’s complementary interview, aired on CNBC’s “Squawk on the Street” Friday, click here.


Company: cnbc, Activity: cnbc, Date: 2018-12-14  Authors: elizabeth gurdus
Keywords: news, cnbc, companies, khosrowshahi, starbucks, ceos, culture, johnson, uber, told, ceo, ubers, emphasis, partners, partnership, talk, company


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