It was a monumental week for markets with major milestones in stocks, bonds, gold and oil

The energy and tech sectors pushed the S&P 500 to its record this week, rising 5.2% and 3.3%, respectively. Gold, meanwhile, surged around 4% and broke above $1,400 per ounce for the first time since 2013. Oil prices, however, left stocks and gold in the dust. The Fed also removed the word “patient” when describing its approach to monetary policy, nodding at the recently weaker economic data. Oil, meanwhile, surged as tensions between Iran and the U.S. flared up this week.


The energy and tech sectors pushed the S&P 500 to its record this week, rising 5.2% and 3.3%, respectively. Gold, meanwhile, surged around 4% and broke above $1,400 per ounce for the first time since 2013. Oil prices, however, left stocks and gold in the dust. The Fed also removed the word “patient” when describing its approach to monetary policy, nodding at the recently weaker economic data. Oil, meanwhile, surged as tensions between Iran and the U.S. flared up this week.
It was a monumental week for markets with major milestones in stocks, bonds, gold and oil Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-21  Authors: fred imbert
Keywords: news, cnbc, companies, tensions, gold, bonds, monumental, oil, weekly, sp, markets, monetary, major, policy, milestones, rates, surged, week, stocks


It was a monumental week for markets with major milestones in stocks, bonds, gold and oil

This week was chalk full of milestones on Wall Street as a Federal Reserve meeting and tensions in the Middle East conspired to send shockwaves across financial markets.

The S&P 500 climbed 2.3% this week and reached a new all-time high of 2,964.15 on Friday. The energy and tech sectors pushed the S&P 500 to its record this week, rising 5.2% and 3.3%, respectively.

Gold, meanwhile, surged around 4% and broke above $1,400 per ounce for the first time since 2013. Gold also had its best weekly gain since 2016.

Oil prices, however, left stocks and gold in the dust. West Texas Intermediate futures skyrocketed more than 9% this week, notching its biggest weekly gain since December 2016, when it surged more than 12%.

Treasurys also went through the roof this week, depressing yields. The benchmark 10-year yield hit a low of 1.973% this week, breaking below the key psychological 2% mark for the first time since November 2016.

The dollar, meanwhile, fell 1.3% against a basket of currencies, its biggest weekly drop since 2018. The U.S. currency also traded near its lowest level since March.

The Fed hinted at its monetary policy meeting it could cut rates as soon as July, stating it prepared to “act as appropriate” to sustain the current economic expansion. The Fed also removed the word “patient” when describing its approach to monetary policy, nodding at the recently weaker economic data.

This boosted stocks as lower rates makes it cheaper for companies to borrow money and grow their business or buy back their stock. The Fed’s announcement also boosted gold as lower rates depresses the dollar, making it cheaper for investors outside the U.S. to buy the precious metal.

Oil, meanwhile, surged as tensions between Iran and the U.S. flared up this week. A U.S. drone was shot down in Iranian airspace earlier in the week, stoking worries of potential supply disruptions in the Middle East.

—CNBC’s John Schoen, Gina Francolla and Chris Hayes contributed to this report.

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Company: cnbc, Activity: cnbc, Date: 2019-06-21  Authors: fred imbert
Keywords: news, cnbc, companies, tensions, gold, bonds, monumental, oil, weekly, sp, markets, monetary, major, policy, milestones, rates, surged, week, stocks


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The world’s largest shipping firm has altered its route through the Strait of Hormuz amid rising tensions

Moller-Maersk has changed the route its ships sail through the world’s busiest transit lane for seaborne oil shipments, citing safety concerns amid a rapid series of escalations between the U.S. and Iran. A surface-to-air missile shot down a U.S. military drone in international airspace over the Strait of Hormuz, a U.S. official told NBC News Thursday morning. The reported drone downing has exacerbated fears that a major military confrontation could soon erupt between Washington and Tehran. “We


Moller-Maersk has changed the route its ships sail through the world’s busiest transit lane for seaborne oil shipments, citing safety concerns amid a rapid series of escalations between the U.S. and Iran. A surface-to-air missile shot down a U.S. military drone in international airspace over the Strait of Hormuz, a U.S. official told NBC News Thursday morning. The reported drone downing has exacerbated fears that a major military confrontation could soon erupt between Washington and Tehran. “We
The world’s largest shipping firm has altered its route through the Strait of Hormuz amid rising tensions Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-20  Authors: sam meredith
Keywords: news, cnbc, companies, rising, assets, firm, changed, strait, amid, safety, largest, hormuz, protecting, worlds, told, route, shipping, ships, tensions, sail


The world's largest shipping firm has altered its route through the Strait of Hormuz amid rising tensions

A.P. Moller-Maersk has changed the route its ships sail through the world’s busiest transit lane for seaborne oil shipments, citing safety concerns amid a rapid series of escalations between the U.S. and Iran.

A surface-to-air missile shot down a U.S. military drone in international airspace over the Strait of Hormuz, a U.S. official told NBC News Thursday morning.

The reported drone downing has exacerbated fears that a major military confrontation could soon erupt between Washington and Tehran.

When asked what steps A.P. Moller-Maersk had taken to protect its assets after the latest flare-up in tensions, the chief operating officer of the world’s largest shipping company said the safety of its workforce would be the top priority.

“We are protecting our assets but, first and foremost, we are protecting and being very careful when it comes to (the) safety of our employees,” Soren Toft told CNBC’s “Squawk Box Europe” on Thursday.

“We have multiple assets, ships (and) people, crossing the Strait of Hormuz every day, every week. So far, we have not stopped serving the area (but) we have changed the path that the ships sail so we have changed the route.”


Company: cnbc, Activity: cnbc, Date: 2019-06-20  Authors: sam meredith
Keywords: news, cnbc, companies, rising, assets, firm, changed, strait, amid, safety, largest, hormuz, protecting, worlds, told, route, shipping, ships, tensions, sail


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Pentagon sending about 1,000 more US troops to the Middle East amid tensions

The sun sets behind a C-17 Globemaster as soldiers wait in line to board the aircraft. WASHINGTON — The Pentagon is preparing to send more troops to the Middle East amid increasing tensions between the United States and Iran. “I have authorized approximately 1,000 additional troops for defensive purposes to address air, naval, and ground-based threats in the Middle East,” wrote acting Secretary of Defense Pat Shanahan in a statement Monday. “The recent Iranian attacks validate the reliable, cred


The sun sets behind a C-17 Globemaster as soldiers wait in line to board the aircraft. WASHINGTON — The Pentagon is preparing to send more troops to the Middle East amid increasing tensions between the United States and Iran. “I have authorized approximately 1,000 additional troops for defensive purposes to address air, naval, and ground-based threats in the Middle East,” wrote acting Secretary of Defense Pat Shanahan in a statement Monday. “The recent Iranian attacks validate the reliable, cred
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Company: cnbc, Activity: cnbc, Date: 2019-06-17  Authors: amanda macias
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Pentagon sending about 1,000 more US troops to the Middle East amid tensions

The sun sets behind a C-17 Globemaster as soldiers wait in line to board the aircraft.

WASHINGTON — The Pentagon is preparing to send more troops to the Middle East amid increasing tensions between the United States and Iran.

“I have authorized approximately 1,000 additional troops for defensive purposes to address air, naval, and ground-based threats in the Middle East,” wrote acting Secretary of Defense Pat Shanahan in a statement Monday.

“The recent Iranian attacks validate the reliable, credible intelligence we have received on hostile behavior by Iranian forces and their proxy groups that threaten United States personnel and interests across the region.”

The Pentagon did not give any further details on the timing of the deployment.

The latest revelation comes on the heels of last week’s attacks on two oil tankers in the Gulf of Oman.


Company: cnbc, Activity: cnbc, Date: 2019-06-17  Authors: amanda macias
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US Treasury yields add to weeklong slide amid weaker economic data

Attacks from Iran’s increased presence is a risk to oil, says US…Analysts have played down fears of a huge oil price spike this year, due to the economic slowdown and trade war — but one U.S. think tank says Middle East tensions could…Oil and Gasread more


Attacks from Iran’s increased presence is a risk to oil, says US…Analysts have played down fears of a huge oil price spike this year, due to the economic slowdown and trade war — but one U.S. think tank says Middle East tensions could…Oil and Gasread more
US Treasury yields add to weeklong slide amid weaker economic data Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-14  Authors: elliot smith
Keywords: news, cnbc, companies, data, treasury, trade, tensions, oil, slowdown, economic, risk, war, usanalysts, amid, yields, think, weaker, weeklong, spike, add, slide, tank


US Treasury yields add to weeklong slide amid weaker economic data

Attacks from Iran’s increased presence is a risk to oil, says US…

Analysts have played down fears of a huge oil price spike this year, due to the economic slowdown and trade war — but one U.S. think tank says Middle East tensions could…

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Company: cnbc, Activity: cnbc, Date: 2019-06-14  Authors: elliot smith
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OPEC’s oil output falls to 5-year low in May as group warns of weaker demand

Oil output from OPEC continued to fall in May, hitting a five-year low as the group warned that US-China trade tensions could lead to slower economic growth and weak fuel demand. Production from the 14-nation producer club fell by 236,000 barrels per day last month to 29.88 million bpd, according to independent sources cited by OPEC in its monthly report. In the monthly report, OPEC says it will carefully consider the economic outlook when it meets with Russia and other oil-exporting nations in


Oil output from OPEC continued to fall in May, hitting a five-year low as the group warned that US-China trade tensions could lead to slower economic growth and weak fuel demand. Production from the 14-nation producer club fell by 236,000 barrels per day last month to 29.88 million bpd, according to independent sources cited by OPEC in its monthly report. In the monthly report, OPEC says it will carefully consider the economic outlook when it meets with Russia and other oil-exporting nations in
OPEC’s oil output falls to 5-year low in May as group warns of weaker demand Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-13  Authors: tom dichristopher
Keywords: news, cnbc, companies, output, low, demand, monthly, million, tensions, falls, opec, report, economic, opecs, group, weaker, trade, oil, warns, global, 5year


OPEC's oil output falls to 5-year low in May as group warns of weaker demand

Oil output from OPEC continued to fall in May, hitting a five-year low as the group warned that US-China trade tensions could lead to slower economic growth and weak fuel demand.

Production from the 14-nation producer club fell by 236,000 barrels per day last month to 29.88 million bpd, according to independent sources cited by OPEC in its monthly report. It was the first time OPEC pumped below 30 million bpd since June 2014.

The slump in production comes as OPEC is considering whether to extend a six-month deal to suppress output. In the monthly report, OPEC says it will carefully consider the economic outlook when it meets with Russia and other oil-exporting nations in the coming weeks.

“Throughout the first half of this year, ongoing global trade tensions have escalated, threatening to spill over, and geo-political risks remained in many key regions,” OPEC said. “This has resulted in a slowdown in global economic activities, and weaker growth in global oil demand, both compared to a year earlier.”


Company: cnbc, Activity: cnbc, Date: 2019-06-13  Authors: tom dichristopher
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CEO optimism takes a hit in the second quarter as trade headwinds persist

CEOs became less optimistic about the U.S. economy as the Trump administration ratcheted up trade tensions with key partners, according to the latest Business Roundtable survey. The Business Roundtable’s CEO Economic Outlook Index fell by 5.7 points in the second quarter to 89.5. Capital expenditure plans, CEO plans for hiring and expectations for sales also fell from the previous quarter. But while U.S.-Mexico trade tensions have been quelled for the moment, U.S.-China trade fears remain. To be


CEOs became less optimistic about the U.S. economy as the Trump administration ratcheted up trade tensions with key partners, according to the latest Business Roundtable survey. The Business Roundtable’s CEO Economic Outlook Index fell by 5.7 points in the second quarter to 89.5. Capital expenditure plans, CEO plans for hiring and expectations for sales also fell from the previous quarter. But while U.S.-Mexico trade tensions have been quelled for the moment, U.S.-China trade fears remain. To be
CEO optimism takes a hit in the second quarter as trade headwinds persist Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-13  Authors: fred imbert
Keywords: news, cnbc, companies, second, trump, tensions, persist, headwinds, optimism, roundtable, business, hit, trade, plans, quarter, ceo, takes, mexico, china, worth


CEO optimism takes a hit in the second quarter as trade headwinds persist

Police officers are seen in front of a cargo ship with containers at a port in Qingdao, Shandong province, China April 6, 2018.

CEOs became less optimistic about the U.S. economy as the Trump administration ratcheted up trade tensions with key partners, according to the latest Business Roundtable survey.

The Business Roundtable’s CEO Economic Outlook Index fell by 5.7 points in the second quarter to 89.5. It also marked the fifth straight quarter of declining optimism. Capital expenditure plans, CEO plans for hiring and expectations for sales also fell from the previous quarter.

“Business leaders are ready and eager to invest and hire in the United States,” Joshua Bolten, president and CEO of the Business Roundtable, said in a statement. “Yet, the uncertainty over trade policy is making it more difficult for companies to invest and operate confidently.”

Trade tensions have been rising since last year as the Trump administration tries to correct what it feels are unfair trade conditions between the U.S. and other countries. Most noticeably, the U.S. has gone after goods from China and Mexico, two key trade partners.

Late last month, President Donald Trump threatened to impose a 5% levy on all imports from Mexico that eventually could have escalated to 25%. Trump said last week the two countries struck a deal to avoid those tariffs that included Mexico curbing immigration into the U.S. But while U.S.-Mexico trade tensions have been quelled for the moment, U.S.-China trade fears remain.

The U.S. hiked tariffs on $200 billion worth of Chinese goods in May to 25% from 10%. China retaliated by raising levies on $60 billion worth of U.S. imports. Concerns over tighter trade conditions and their impact on the global economy and corporate profits led to a massive sell-off in May. The S&P 500 plunged more 6% last month.

To be sure, the Business Roundtable said the CEO Economic Outlook Index remains above its historical average of 82.6. Hiring and capital investment plans are also above historical levels.

The survey was also conducted between May 16 and June 3, which Bolten called “a turbulent few weeks for U.S. trade relations with China and Mexico.”

J.P. Morgan Chase CEO Jamie Dimon called on lawmakers to “work together to enact policies that will encourage inclusive growth, innovation and opportunity in the United States. That includes investing in infrastructure and workforce training, reforming our immigration system and expanding free and fair trade.”

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Company: cnbc, Activity: cnbc, Date: 2019-06-13  Authors: fred imbert
Keywords: news, cnbc, companies, second, trump, tensions, persist, headwinds, optimism, roundtable, business, hit, trade, plans, quarter, ceo, takes, mexico, china, worth


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One top tech investor is betting against chip stocks, bearish Netflix

Attacks from Iran’s increased presence is a risk to oil, says US…Analysts have played down fears of a huge oil price spike this year, due to the economic slowdown and trade war — but one U.S. think tank says Middle East tensions could…Oil and Gasread more


Attacks from Iran’s increased presence is a risk to oil, says US…Analysts have played down fears of a huge oil price spike this year, due to the economic slowdown and trade war — but one U.S. think tank says Middle East tensions could…Oil and Gasread more
One top tech investor is betting against chip stocks, bearish Netflix Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-13  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, investor, trade, tensions, oil, slowdown, tech, risk, war, usanalysts, tank, think, netflix, bearish, spike, chip, betting, stocks


One top tech investor is betting against chip stocks, bearish Netflix

Attacks from Iran’s increased presence is a risk to oil, says US…

Analysts have played down fears of a huge oil price spike this year, due to the economic slowdown and trade war — but one U.S. think tank says Middle East tensions could…

Oil and Gas

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Company: cnbc, Activity: cnbc, Date: 2019-06-13  Authors: maggie fitzgerald
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Bank of America has found the perfect recession play — death

Investors worried about a potential recession can seek shelter in a morbid sector of the market: death companies. Bank of America analyst Joanna Gajuk noted that pre-need service companies, which make funeral arrangements before the person dies, only saw a “slight pullback” in business during the last recession as “75% of the pre-need funeral customers pay in one lump sum.” She added that 40% to 50% of cemetery plot and memorial space purchases are also paid in a lump sum. Recession fears have r


Investors worried about a potential recession can seek shelter in a morbid sector of the market: death companies. Bank of America analyst Joanna Gajuk noted that pre-need service companies, which make funeral arrangements before the person dies, only saw a “slight pullback” in business during the last recession as “75% of the pre-need funeral customers pay in one lump sum.” She added that 40% to 50% of cemetery plot and memorial space purchases are also paid in a lump sum. Recession fears have r
Bank of America has found the perfect recession play — death Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-13  Authors: fred imbert
Keywords: news, cnbc, companies, sum, trade, tensions, sumrecession, perfect, worried, recession, play, america, funeral, weaker, death, preneed, bank, lump


Bank of America has found the perfect recession play — death

Investors worried about a potential recession can seek shelter in a morbid sector of the market: death companies.

Bank of America analyst Joanna Gajuk noted that pre-need service companies, which make funeral arrangements before the person dies, only saw a “slight pullback” in business during the last recession as “75% of the pre-need funeral customers pay in one lump sum.” She added that 40% to 50% of cemetery plot and memorial space purchases are also paid in a lump sum.

Recession fears have risen lately amid weaker economic data and increasing trade tensions. Monthly jobs growth fell to just 75,000 in May — missing an estimate of 180,000 — while manufacturing activity grew last month at its slowest pace since October 2016. Meanwhile, China and the U.S. continue to strengthen their rhetoric against each other on the trade front.


Company: cnbc, Activity: cnbc, Date: 2019-06-13  Authors: fred imbert
Keywords: news, cnbc, companies, sum, trade, tensions, sumrecession, perfect, worried, recession, play, america, funeral, weaker, death, preneed, bank, lump


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Uber, payments firms reportedly sign on to back Facebook’s blockchain project

Attacks from Iran’s increased presence is a risk to oil, says US…Analysts have played down fears of a huge oil price spike this year, due to the economic slowdown and trade war — but one U.S. think tank says Middle East tensions could…Oil and Gasread more


Attacks from Iran’s increased presence is a risk to oil, says US…Analysts have played down fears of a huge oil price spike this year, due to the economic slowdown and trade war — but one U.S. think tank says Middle East tensions could…Oil and Gasread more
Uber, payments firms reportedly sign on to back Facebook’s blockchain project Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-13  Authors: salvador rodriguez
Keywords: news, cnbc, companies, trade, tensions, blockchain, oil, project, risk, war, usanalysts, firms, uber, think, reportedly, payments, sign, spike, slowdown, facebooks, tank


Uber, payments firms reportedly sign on to back Facebook's blockchain project

Attacks from Iran’s increased presence is a risk to oil, says US…

Analysts have played down fears of a huge oil price spike this year, due to the economic slowdown and trade war — but one U.S. think tank says Middle East tensions could…

Oil and Gas

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Company: cnbc, Activity: cnbc, Date: 2019-06-13  Authors: salvador rodriguez
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French Finance Minister Le Maire: ‘A trade war would mean an economic crisis all over the world, and especially in Europe’

In fact, Le Maire said the tariffs battle, which kicked off last year, has already reached beyond the world’s two largest economies. “We do not have the growth figures we should have because of the trade tensions between the U.S. and China,” Le Marie said. “I want to be very clear, a trade war would mean an economic crisis all over the world, and especially in Europe,” he told CNBC’s Nancy Hungerford. Le Maire isn’t the only European official concerned about the trade tensions. Le Maire said tha


In fact, Le Maire said the tariffs battle, which kicked off last year, has already reached beyond the world’s two largest economies. “We do not have the growth figures we should have because of the trade tensions between the U.S. and China,” Le Marie said. “I want to be very clear, a trade war would mean an economic crisis all over the world, and especially in Europe,” he told CNBC’s Nancy Hungerford. Le Maire isn’t the only European official concerned about the trade tensions. Le Maire said tha
French Finance Minister Le Maire: ‘A trade war would mean an economic crisis all over the world, and especially in Europe’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-10  Authors: grace shao
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French Finance Minister Le Maire: 'A trade war would mean an economic crisis all over the world, and especially in Europe'

If trade tensions between the U.S. and China continue to escalate, that may have a “direct and very negative impact all over the world, especially Europe and the Eurozone, ” according to French Finance and Economy Minister Bruno Le Maire.

In fact, Le Maire said the tariffs battle, which kicked off last year, has already reached beyond the world’s two largest economies. Speaking with CNBC over the weekend at the G-20 Finance Ministers Meeting in Fukuoka, Japan, he said Europe is already performing worse than it otherwise would because of the ongoing U.S.-China trade war.

He pointed, in particular, to the French and German economies as examples of those caught in the crossfire.

“We do not have the growth figures we should have because of the trade tensions between the U.S. and China,” Le Marie said.

“I want to be very clear, a trade war would mean an economic crisis all over the world, and especially in Europe,” he told CNBC’s Nancy Hungerford.

Le Maire isn’t the only European official concerned about the trade tensions. Pierre Moscovici, European commissioner for economic and financial affairs, taxation and customs, expressed the same sentiment.

“We are of course concerned by the trade tensions (between the U.S. and China) … because we are the most open economy in the world,” said Moscovici. “That’s why we are so attached and it is one of our values to free economy, to open economy, to free trade, to multilateralism, that’s why we’re so reluctant against protectionism.”

Moscovici emphasized, “The trade tensions is the worst threat to the world economy.”

Le Maire said that, during a recent meeting with U.S. Treasury Secretary Steven Mnuchin, the American official suggested he wants to avoid escalating the trade war. That will depend, however, on the results of the highly anticipated meeting between Chinese President Xi Jinping and U.S. President Donald Trump later this month.


Company: cnbc, Activity: cnbc, Date: 2019-06-10  Authors: grace shao
Keywords: news, cnbc, companies, finance, war, mean, tensions, china, economy, le, trade, meeting, maire, minister, french, europe, world


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