Here are Credit Suisse’s 10 ‘surprises’ for 2020, including a big market prediction

A trader works on the floor of the New York Stock Exchange (NYSE) in New York. The market started 2020 on a strong note as easing geopolitical tensions lifted stocks to all-time highs, and according to one strategist, this year’s rally is just getting started. In Credit Suisse’s annual list of “10 surprises,” global equity strategist Andrew Garthwaite said the S&P could rise another 25%. Other predictions include oil finishing the year as one of the three best-performing sectors, as well as Chin


A trader works on the floor of the New York Stock Exchange (NYSE) in New York.
The market started 2020 on a strong note as easing geopolitical tensions lifted stocks to all-time highs, and according to one strategist, this year’s rally is just getting started.
In Credit Suisse’s annual list of “10 surprises,” global equity strategist Andrew Garthwaite said the S&P could rise another 25%.
Other predictions include oil finishing the year as one of the three best-performing sectors, as well as Chin
Here are Credit Suisse’s 10 ‘surprises’ for 2020, including a big market prediction Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: pippa stevens
Keywords: news, cnbc, companies, including, trader, prediction, threedecade, big, list, credit, surprises, 2020, suisses, yorkthe, technology, underperforminga, works, york, strategist, tensions, market


Here are Credit Suisse's 10 'surprises' for 2020, including a big market prediction

A trader works on the floor of the New York Stock Exchange (NYSE) in New York.

The market started 2020 on a strong note as easing geopolitical tensions lifted stocks to all-time highs, and according to one strategist, this year’s rally is just getting started.

In Credit Suisse’s annual list of “10 surprises,” global equity strategist Andrew Garthwaite said the S&P could rise another 25%. Other predictions include oil finishing the year as one of the three best-performing sectors, as well as China’s GDP growth rate hitting a three-decade low and the technology sector underperforming.

A “surprise” on the list, which has been published for nearly 30 years and includes five positive and five negative outcomes, is defined as an event outside the firm’s core scenario, but one where the distribution skews.


Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: pippa stevens
Keywords: news, cnbc, companies, including, trader, prediction, threedecade, big, list, credit, surprises, 2020, suisses, yorkthe, technology, underperforminga, works, york, strategist, tensions, market


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Ivanka Trump, Jared Kushner and Steven Mnuchin: Here’s the US team attending Davos this year

in the grand ballroom of Trump International Hotel, U.S. Presidential candidate Donald J. Trump (center) speaks, with his daughter Ivanka Trump by his side, talks about the grand opening of their family’s latest property, Trump International Hotel – Old Post Office, in Washington, DC on October 26, 2016. This year, the meeting takes place at a time of heightened geopolitical tensions, trade disputes and further calls for action against climate change. Their dispute could set a precedent for othe


in the grand ballroom of Trump International Hotel, U.S. Presidential candidate Donald J. Trump (center) speaks, with his daughter Ivanka Trump by his side, talks about the grand opening of their family’s latest property, Trump International Hotel – Old Post Office, in Washington, DC on October 26, 2016.
This year, the meeting takes place at a time of heightened geopolitical tensions, trade disputes and further calls for action against climate change.
Their dispute could set a precedent for othe
Ivanka Trump, Jared Kushner and Steven Mnuchin: Here’s the US team attending Davos this year Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-15  Authors: silvia amaro
Keywords: news, cnbc, companies, mnuchin, davos, ivanka, kushner, trade, team, meet, meeting, digital, secretary, heres, trump, tensions, tax, steven, attending, jared, wef


Ivanka Trump, Jared Kushner and Steven Mnuchin: Here's the US team attending Davos this year

in the grand ballroom of Trump International Hotel, U.S. Presidential candidate Donald J. Trump (center) speaks, with his daughter Ivanka Trump by his side, talks about the grand opening of their family’s latest property, Trump International Hotel – Old Post Office, in Washington, DC on October 26, 2016. The event was closed to the public, and included VIP guests and employees of Trump. (Photo by Cheriss May/NurPhoto via Getty Images) Cheris May | NurPhoto | Getty Images

President Donald Trump is returning to the Swiss Alps next week for the World Economic Forum (WEF), after skipping the event last year due to the partial government shutdown. The five-day gathering in Davos is used by business leaders and politicians to meet and discuss some of the most pressing issues worldwide. This year, the meeting takes place at a time of heightened geopolitical tensions, trade disputes and further calls for action against climate change. Trump will not be representing the United States alone. Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer will also be attending — the former will be on two panels, one on the global economy and the other moderated by CNBC on the future of financial markets.

Lighthizer could make some headline news in Davos this year. He is due to meet French Finance Minister Bruno Le Maire regarding the taxation of digital firms. The meeting is an attempt to avoid an escalation in their relationship as the U.S. has threatened to hike tariffs against French products due to the implementation of a 3% digital tax by Paris. Their dispute could set a precedent for other countries such as Austria and the U.K., where there are also plans to tax digital giants. Ivanka Trump and her husband Jared Kushner are also attending WEF in their roles as advisors to the president. Eugene Scalia, the secretary of labor, and Elaine Chao, the secretary of transportation, will also be traveling to Switzerland.

Iran tensions


Company: cnbc, Activity: cnbc, Date: 2020-01-15  Authors: silvia amaro
Keywords: news, cnbc, companies, mnuchin, davos, ivanka, kushner, trade, team, meet, meeting, digital, secretary, heres, trump, tensions, tax, steven, attending, jared, wef


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

JP Morgan’s trading guru says the market is underappreciating the risk of a conflict with Iran

“We believe this tail risk is under-appreciated by the market and should be hedged.” For a moment stocks fell and oil moved higher as the Street considered whether or not Iran would target production in the oil-rich region. Kolanovic’s reports have moved markets in the past and he’s made some good calls on equities by analyzing various quantitative factors such as fund flows and volatility. For example, he predicted the big rotation into value stocks last year. While Iran tensions appear to have


“We believe this tail risk is under-appreciated by the market and should be hedged.”
For a moment stocks fell and oil moved higher as the Street considered whether or not Iran would target production in the oil-rich region.
Kolanovic’s reports have moved markets in the past and he’s made some good calls on equities by analyzing various quantitative factors such as fund flows and volatility.
For example, he predicted the big rotation into value stocks last year.
While Iran tensions appear to have
JP Morgan’s trading guru says the market is underappreciating the risk of a conflict with Iran Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-15  Authors: pippa stevens
Keywords: news, cnbc, companies, morgans, stocks, oil, volatility, market, trading, guru, kolanovic, tensions, risk, underappreciating, conflict, week, iran, jan


JP Morgan's trading guru says the market is underappreciating the risk of a conflict with Iran

The U.S.-Iran conflict appears to be in the rear-view mirror as stocks soar to record highs and the phase one signing of the U.S.-China trade deal takes center stage, but some are warning that tensions in the Middle East continue to simmer, and may soon reach a boiling point.

“A significant change to our outlook is the new geopolitical tail risk that emerged in the Middle East,” Marko Kolanovic, global head of macro quantitative and derivatives strategy, said in a note to clients Wednesday. “We believe this tail risk is under-appreciated by the market and should be hedged.”

Tensions between the U.S. and Iran escalated after the U.S. conducted an airstrike on Jan. 2 that killed top Iranian commander Qasem Soleimani, and then when Iran subsequently retaliated on Jan. 7 by firing missiles at multiple bases in Iraq that housed U.S. troops.

For a moment stocks fell and oil moved higher as the Street considered whether or not Iran would target production in the oil-rich region.

But stocks quickly recovered their losses and then surged to all-time highs, while oil finished the week ending Jan. 10 with a more than 6% loss — its worst week since July — as supply disruption threats faded.

Kolanovic’s reports have moved markets in the past and he’s made some good calls on equities by analyzing various quantitative factors such as fund flows and volatility. For example, he predicted the big rotation into value stocks last year.

While Iran tensions appear to have cooled, Kolanovic argues that the underlying issues were not resolved, which means the risks were not removed, but instead push the US and Iran “further down a collision course.”

Given that an election year is underway in the United States, Kolanovic said that ongoing retaliation from Iran could have an especially acute impact since volatility and climbing oil prices could contribute to foreign policy decisions.

“If the conflict were to escalate in an election year, causing market turmoil, and with the US having fewer allies, Trump could be more likely to accept a JCPOA-like settlement,” he said, adding that “the risk of escalation is high going into U.S. elections” and that “the market currently is not pricing any significant risk.”

– With reporting from CNBC’s Michael Bloom.


Company: cnbc, Activity: cnbc, Date: 2020-01-15  Authors: pippa stevens
Keywords: news, cnbc, companies, morgans, stocks, oil, volatility, market, trading, guru, kolanovic, tensions, risk, underappreciating, conflict, week, iran, jan


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Democrats trust Biden most on foreign policy as Iran tensions simmer, poll says

2020 Democratic White House hopefuls have drilled into foreign policy as U.S. tensions with Iran bubble, and a new poll suggests more primary voters put their faith in Joe Biden to navigate the crisis. Twelve percent say they don’t know whom they trust to tackle foreign policy, while 11% put their faith most in Sen. Elizabeth Warren, D-Mass. The presidential hopefuls will likely stress their foreign policy credentials again at Tuesday night’s primary debate in Des Moines, Iowa. Since Soleimani’s


2020 Democratic White House hopefuls have drilled into foreign policy as U.S. tensions with Iran bubble, and a new poll suggests more primary voters put their faith in Joe Biden to navigate the crisis.
Twelve percent say they don’t know whom they trust to tackle foreign policy, while 11% put their faith most in Sen. Elizabeth Warren, D-Mass.
The presidential hopefuls will likely stress their foreign policy credentials again at Tuesday night’s primary debate in Des Moines, Iowa.
Since Soleimani’s
Democrats trust Biden most on foreign policy as Iran tensions simmer, poll says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-14  Authors: jacob pramuk
Keywords: news, cnbc, companies, sanders, trust, vice, tensions, voters, primary, democratic, simmer, poll, iran, democrats, biden, policy, president, foreign


Democrats trust Biden most on foreign policy as Iran tensions simmer, poll says

Democratic candidate for president, former Vice President Joe Biden makes remarks about the DNI Whistleblower Report as well as President Trumps ongoing abuse of power at the Hotel DuPont on September 24, 2019 in Wilmington, Delaware.

2020 Democratic White House hopefuls have drilled into foreign policy as U.S. tensions with Iran bubble, and a new poll suggests more primary voters put their faith in Joe Biden to navigate the crisis.

About a third, or 32%, of Democratic primary voters most trust the former vice president to handle foreign relations, according to a Morning Consult survey released Monday night. Another 20% of respondents have the most confidence in Sen. Bernie Sanders, I-Vt., to address the topic.

Twelve percent say they don’t know whom they trust to tackle foreign policy, while 11% put their faith most in Sen. Elizabeth Warren, D-Mass. Former New York City Mayor Michael Bloomberg and former South Bend Mayor Pete Buttigieg tied as the most trusted candidate, among 6% of respondents.

Foreign policy, which generally got less attention than issues such as health care, climate change and immigration during the first year of the Democratic primary, has jumped to the top of candidates’ minds following the U.S. killing of Iran’s top general, Qasem Soleimani, earlier this month. Democrats who aim to challenge President Donald Trump have warned about a spiking risk of war in the Middle East following Iranian strikes on U.S. targets in Iraq and the White House’s new sanctions on Tehran.

The presidential hopefuls will likely stress their foreign policy credentials again at Tuesday night’s primary debate in Des Moines, Iowa. The candidates will take the stage together for the final time before the state’s caucuses, the first nominating contest of the year, on Feb. 3.

Polls still broadly show that voters consider health care and climate change the two most important issues in the race. On health care, 29% of respondents to the poll trust Sanders the most, followed by Biden at 21%. Meanwhile, 24% of voters have the most confidence in Sanders to handle climate change, while 22% say the same about Biden.

Since Soleimani’s killing, Biden and Sanders in particular have tried to leverage their foreign policy credentials for support. The former vice president has touted his eight years in the Obama administration and more than three decades in the Senate, casting himself as a steadier, more experienced hand than Trump on the world stage.

Sanders has highlighted his efforts to keep the U.S. out of war — including his 2002 House vote against authorizing military force in Iraq. The senator has repeatedly criticized Biden for supporting the 2003 Iraq invasion, which Sanders recently called “the most dangerous foreign policy blunder in the modern history of this country.”

Polling also suggests Iowa voters have paid more attention to foreign policy in the weeks before the caucuses. A Monmouth University poll released Wednesday found 16% of likely caucus participants list foreign policy as one of their two most important issues in deciding which candidate to support — up from 6% in an August poll.

The polling outfit suggested Iran tensions drove the increased focus — and that the issue could give Biden a bump in support.

“Recent events in the Middle East seem to have resulted in an uptick in foreign policy concerns among Democratic caucusgoers. It’s still a small number, but it could be helping Biden on the margins,” said Patrick Murray, director of the Monmouth University Polling Institute.

The Morning Consult poll, taken from Jan. 10-12, surveyed 801 Democratic primary voters and has a margin of error of plus-or-minus 3 percentage points.

The Monmouth University poll, taken from Jan. 9-12, surveyed 405 Iowa voters likely to attend the Democratic caucuses, and has a margin of error of plus-or-minus 4.9 percentage points.

Subscribe to CNBC on YouTube.


Company: cnbc, Activity: cnbc, Date: 2020-01-14  Authors: jacob pramuk
Keywords: news, cnbc, companies, sanders, trust, vice, tensions, voters, primary, democratic, simmer, poll, iran, democrats, biden, policy, president, foreign


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

US tensions with Iran could overshadow Washington’s trade fight with China

Protesters hold up a damaged U.S. flag and anti-USA banners during a demonstration following the U.S. airstrike in Iraq which killed a top Iranian commander, in Tehran, Iran, on Friday, Jan. 3, 2020. The U.S.-China trade fight dominated investors’ attention for much of 2019 — but that will likely be get overshadowed by tensions between the U.S. and Iran this year, a political risk consultant predicted on Monday. Newton didn’t say how Iran could retaliate, but other experts have said that future


Protesters hold up a damaged U.S. flag and anti-USA banners during a demonstration following the U.S. airstrike in Iraq which killed a top Iranian commander, in Tehran, Iran, on Friday, Jan. 3, 2020.
The U.S.-China trade fight dominated investors’ attention for much of 2019 — but that will likely be get overshadowed by tensions between the U.S. and Iran this year, a political risk consultant predicted on Monday.
Newton didn’t say how Iran could retaliate, but other experts have said that future
US tensions with Iran could overshadow Washington’s trade fight with China Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-13  Authors: yen nee lee
Keywords: news, cnbc, companies, trade, newton, retaliation, predicted, fight, china, iranian, overshadow, trump, iran, washingtons, donald, investors, going, tehran, tensions


US tensions with Iran could overshadow Washington's trade fight with China

Protesters hold up a damaged U.S. flag and anti-USA banners during a demonstration following the U.S. airstrike in Iraq which killed a top Iranian commander, in Tehran, Iran, on Friday, Jan. 3, 2020.

The U.S.-China trade fight dominated investors’ attention for much of 2019 — but that will likely be get overshadowed by tensions between the U.S. and Iran this year, a political risk consultant predicted on Monday.

“I actually think this (Iran) is going to be a more important issue for investors this year than China-U.S.,” said Alastair Newton, director of Alavan Business Advisory and a former British diplomat, told CNBC’s “Squawk Box Asia.”

He predicted there will be more Iranian retaliation this year, after Tehran fired missiles at Iraqi bases housing U.S. troops last week — a move seen in retaliation to the U.S. killing of top Iranian general Qasem Soleimani.

Newton didn’t say how Iran could retaliate, but other experts have said that future moves could include aggression by Iranian proxy groups in the region and cyberattacks.

Newton added that the “bad relationship” between the U.S. and Iran is “just going from bad to worse,” and there have been no signs the two sides could turn to diplomacy to resolve their conflict. His comment came as U.S. President Donald Trump said in a post on Twitter that he “couldn’t care less” if Iran agrees to negotiate.

But Tehran wouldn’t want to negotiate with Trump either, Newton said.

Iranian authorities “are not going to talk with Donald Trump, the Iranians will hope that Donald Trump is defeated” in this year’s U.S. presidential election and “they have a different democratic party administration to deal with,” he said.


Company: cnbc, Activity: cnbc, Date: 2020-01-13  Authors: yen nee lee
Keywords: news, cnbc, companies, trade, newton, retaliation, predicted, fight, china, iranian, overshadow, trump, iran, washingtons, donald, investors, going, tehran, tensions


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

US futures point to higher open as investors await key jobs data

U.S. stock index futures were higher Friday morning as world markets rally on the back of easing tensions in the Middle East. ET, Dow futures rose 41 points, indicating a positive open of more than 49 points. Futures on the S&P and Nasdaq were also higher. Both economic powers are set to meet next week at the White House to sign the first phase of the agreement. That would be a slowdown from November, when the economy added 266,000 jobs with an unemployment rate of 3.5%.


U.S. stock index futures were higher Friday morning as world markets rally on the back of easing tensions in the Middle East.
ET, Dow futures rose 41 points, indicating a positive open of more than 49 points.
Futures on the S&P and Nasdaq were also higher.
Both economic powers are set to meet next week at the White House to sign the first phase of the agreement.
That would be a slowdown from November, when the economy added 266,000 jobs with an unemployment rate of 3.5%.
US futures point to higher open as investors await key jobs data Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-10  Authors: silvia amaro
Keywords: news, cnbc, companies, rose, data, president, higher, open, await, week, unemployment, trump, point, investors, futures, tensions, jobs, points, key, powers, payrolls


US futures point to higher open as investors await key jobs data

U.S. stock index futures were higher Friday morning as world markets rally on the back of easing tensions in the Middle East.

At around 3:45 a.m. ET, Dow futures rose 41 points, indicating a positive open of more than 49 points. Futures on the S&P and Nasdaq were also higher.

U.S. equities hit record highs on Thursday on the back of the easing tensions. Tech shares outperformed with Apple jumping more than 2%. Chinese data showed Thursday that iPhone sales rose 18% in December in the country.

The House passed a resolution to limit President Donald Trump’s war powers against Tehran on Thursday, with many lawmakers concerned about the prospect of another escalation following the U.S. killing of Iran’s top general Qasem Soleimani last week.

Canadian Prime Minister Justin Trudeau said Thursday that the plane that crashed in Iran earlier this week, killing 176 people, was likely brought down by an Iranian missile.

Meanwhile, President Donald Trump said that he could maybe wait until after the 2020 presidential election to reach the second part of a trade deal with China. Both economic powers are set to meet next week at the White House to sign the first phase of the agreement. The two countries have been at odds over commerce for about two years, when Trump first applied tariffs on Chinese solar panels and washing machines.

Investors will also be busy Friday with different sets of data releases. There will be nonfarm payrolls and unemployment figures due at 8:30 a.m. ET and wholesale inventories are scheduled for 10 a.m. ET.

Economists polled by Dow Jones expect U.S. nonfarm payrolls to grow by 160,000. That would be a slowdown from November, when the economy added 266,000 jobs with an unemployment rate of 3.5%.

There are no corporate earnings to note.

—CNBC’s Sam Meredith and Jesse Pound contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2020-01-10  Authors: silvia amaro
Keywords: news, cnbc, companies, rose, data, president, higher, open, await, week, unemployment, trump, point, investors, futures, tensions, jobs, points, key, powers, payrolls


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

European stocks inch higher as global markets rally on easing US-Iran tensions

European stocks traded cautiously higher on Friday as world markets rally on the back of easing tensions in the Middle East. The pan-European Stoxx 600 inched up 0.1% during morning trade, with travel and leisure stocks surging 1.7% while banking stocks retreated by 0.4%. Global market sentiment has improved in the latter half of the week amid a de-escalation in U.S.-Iran tensions. Still, stocks worldwide have been boosted by the easing tensions, as well as optimism over U.S.-China trade relatio


European stocks traded cautiously higher on Friday as world markets rally on the back of easing tensions in the Middle East.
The pan-European Stoxx 600 inched up 0.1% during morning trade, with travel and leisure stocks surging 1.7% while banking stocks retreated by 0.4%.
Global market sentiment has improved in the latter half of the week amid a de-escalation in U.S.-Iran tensions.
Still, stocks worldwide have been boosted by the easing tensions, as well as optimism over U.S.-China trade relatio
European stocks inch higher as global markets rally on easing US-Iran tensions Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-10  Authors: elliot smith ryan browne, elliot smith, ryan browne
Keywords: news, cnbc, companies, rally, higher, week, morning, liu, tensions, jan, global, trade, tehran, easing, european, usiran, inch, missile, stocks, markets


European stocks inch higher as global markets rally on easing US-Iran tensions

European stocks traded cautiously higher on Friday as world markets rally on the back of easing tensions in the Middle East.

The pan-European Stoxx 600 inched up 0.1% during morning trade, with travel and leisure stocks surging 1.7% while banking stocks retreated by 0.4%.

Global market sentiment has improved in the latter half of the week amid a de-escalation in U.S.-Iran tensions. President Donald Trump said Wednesday that Iran appeared to be “standing down” following missile strikes on Iraqi bases housing U.S. troops. The attacks were in retaliation to Washington’s killing of top Iranian general Qasem Soleimani.

Reports emerged Thursday claiming a Ukraine-bound flight that crashed shortly after take-off from Tehran had been shot down by an Iranian missile. Government officials say it could have been downed by mistake. Iran’s aviation regulator dismissed the claims as “illogical rumors,” and Tehran maintains the aircraft crashed due to a technical problem.

Still, stocks worldwide have been boosted by the easing tensions, as well as optimism over U.S.-China trade relations. MSCI’s broadest index of international share markets rose 0.6%, hitting an all-time high.

Chinese Vice Premier Liu He is due to sign an initial “phase one” trade deal with the U.S. next week. Liu will visit Washington on Jan. 13-15, Beijing said on Thursday.

Back in Europe, U.K. lawmakers approved legislation that will allow the country to exit the EU on Jan. 31 with a withdrawal deal. Meanwhile in France, the government has stood its ground on proposed pension reforms despite protests from tens of thousands of demonstrators across the country.

As for economic data, French manufacturing figures for November are due later this morning.


Company: cnbc, Activity: cnbc, Date: 2020-01-10  Authors: elliot smith ryan browne, elliot smith, ryan browne
Keywords: news, cnbc, companies, rally, higher, week, morning, liu, tensions, jan, global, trade, tehran, easing, european, usiran, inch, missile, stocks, markets


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Wall Street set for more gains at the open

Wall Street set for more gains at the open45 Mins AgoU.S. stock index futures were set to open at record levels Friday as world markets rally on the back of easing tensions in the Middle East. CNBC’s Frank Holland reports.


Wall Street set for more gains at the open45 Mins AgoU.S. stock index futures were set to open at record levels Friday as world markets rally on the back of easing tensions in the Middle East.
CNBC’s Frank Holland reports.
Wall Street set for more gains at the open Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-10
Keywords: news, cnbc, companies, stock, world, street, open, reports, open45, wall, tensions, set, rally, gains, record


Wall Street set for more gains at the open

Wall Street set for more gains at the open

45 Mins Ago

U.S. stock index futures were set to open at record levels Friday as world markets rally on the back of easing tensions in the Middle East. CNBC’s Frank Holland reports.


Company: cnbc, Activity: cnbc, Date: 2020-01-10
Keywords: news, cnbc, companies, stock, world, street, open, reports, open45, wall, tensions, set, rally, gains, record


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Oil posts worst week since July after US-Iran tensions ease

Oil fell on Friday to cap its worst week since July as tensions in the Middle East over Iran eased for now and investors focused on rising U.S. inventories and other signs of ample supply. Brent crude, the global benchmark, was down 45 cents at $64.92, while West Texas Intermediate crude slipped 52 cents to settle at $59.04. The weekly decline in both Brent and WTI crude futures have sent oil prices back to or below levels seen before the U.S. drone strike killed Iranian general Qassem Soleimani


Oil fell on Friday to cap its worst week since July as tensions in the Middle East over Iran eased for now and investors focused on rising U.S. inventories and other signs of ample supply.
Brent crude, the global benchmark, was down 45 cents at $64.92, while West Texas Intermediate crude slipped 52 cents to settle at $59.04.
The weekly decline in both Brent and WTI crude futures have sent oil prices back to or below levels seen before the U.S. drone strike killed Iranian general Qassem Soleimani
Oil posts worst week since July after US-Iran tensions ease Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-10
Keywords: news, cnbc, companies, worst, production, ship, usiran, oil, iran, market, ease, prices, inventories, week, jan, tensions, futures, posts


Oil posts worst week since July after US-Iran tensions ease

Oil fell on Friday to cap its worst week since July as tensions in the Middle East over Iran eased for now and investors focused on rising U.S. inventories and other signs of ample supply.

However, markets were still eyeing the longer-term risks of conflict, and prices were briefly supported on Friday by new U.S. sanctions on Iran in retaliation for its missile attack on U.S. forces in Iraq this week.

Also, a Russian navy ship “aggressively approached” a U.S. Navy destroyer in the North Arabian Sea on Thursday, the U.S. Navy’s Bahrain-based Fifth Fleet said in a statement on Friday.

Brent crude, the global benchmark, was down 45 cents at $64.92, while West Texas Intermediate crude slipped 52 cents to settle at $59.04. Crude’s weekly decline of more than 6% was the first since November.

“With the standing down of Iran there was a sense that oil supplies were pretty safe but now with the institution of sanctions and this report that a Russian ship was acting aggressively toward a U.S. ship, it’s put a little bit of fear back into the market place,” said Phil Flynn, oil analyst at Price Futures Group in Chicago.

The weekly decline in both Brent and WTI crude futures have sent oil prices back to or below levels seen before the U.S. drone strike killed Iranian general Qassem Soleimani on Jan. 3.

Iran responded to the U.S. drone strike on Jan. 8 with a missile attack on Iraqi air bases hosting U.S. forces that left no casualties. But a Revolutionary Guards commander said Iran would take “harsher revenge” soon.

Still, there has been no disruption to Middle East oil production as a result of the flare-up in tensions and other indications this week suggest supply is ample.

U.S. government data on Friday showed job growth slowed more than expected in December.

Crude inventories in the United States rose unexpectedly last week and gasoline inventories surged by their most in a week in four years, the Energy Information Administration said on Wednesday.

“We’re heading into a slack (fuel) demand period ahead of the summer driving season and rising inventories reminded folks this is still a somewhat oversupplied oil market,” said John Kilduff, partner at Again Capital LLC in New York.

In a bid to tackle any build-up of excess supply, the Organization of the Petroleum Exporting Countries plus allies including Russia are embarking on a further cut in production as of Jan. 1 this year.

Industry surveys, including from Reuters, showed that OPEC output declined in December ahead of the new pact. Still, production remains higher than the forecast demand for early 2020, according to some analysts.

But oil prices may find support in coming months due to improving fundamentals as the United States seems to have “plateaued on production, and OPEC is sticking with its cuts,” said Phil Streible, chief market strategist at Blue Line Futures in Chicago.


Company: cnbc, Activity: cnbc, Date: 2020-01-10
Keywords: news, cnbc, companies, worst, production, ship, usiran, oil, iran, market, ease, prices, inventories, week, jan, tensions, futures, posts


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Watch: Nancy Pelosi holds news conference amid debate over articles of impeachment, Iran tensions

House Speaker Nancy Pelosi is slated to hold her weekly news conference on Capitol Hill on Thursday morning, as some Democratic colleagues urge her to move articles of impeachment against President Donald Trump to the Senate so the trial can begin. Pelosi has yet to deliver the impeachment articles to the Senate in an effort to force Senate Majority Leader Mitch McConnell to ensure what she has called a fair process. But McConnell and other Republican leaders have indicated they will set the imp


House Speaker Nancy Pelosi is slated to hold her weekly news conference on Capitol Hill on Thursday morning, as some Democratic colleagues urge her to move articles of impeachment against President Donald Trump to the Senate so the trial can begin.
Pelosi has yet to deliver the impeachment articles to the Senate in an effort to force Senate Majority Leader Mitch McConnell to ensure what she has called a fair process.
But McConnell and other Republican leaders have indicated they will set the imp
Watch: Nancy Pelosi holds news conference amid debate over articles of impeachment, Iran tensions Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-09  Authors: yelena dzhanova
Keywords: news, cnbc, companies, mcconnell, slated, force, trump, watch, conference, holds, articles, impeachment, iran, president, irans, tensions, senate, led, debate, pelosi, nancy


Watch: Nancy Pelosi holds news conference amid debate over articles of impeachment, Iran tensions

[The stream is slated to start at 10:45 a.m. ET. Please refresh the page if you do not see a player above at that time.]

House Speaker Nancy Pelosi is slated to hold her weekly news conference on Capitol Hill on Thursday morning, as some Democratic colleagues urge her to move articles of impeachment against President Donald Trump to the Senate so the trial can begin.

Trump was impeached by the House on Dec. 18.

Pelosi has yet to deliver the impeachment articles to the Senate in an effort to force Senate Majority Leader Mitch McConnell to ensure what she has called a fair process.

But McConnell and other Republican leaders have indicated they will set the impeachment rules despite Democrats’ objections.

The impeachment inquiry was triggered by Trump’s July 25 phone call with Ukrainian President Volodymyr Zelenskiy. Trump pressed his newly elected counterpart to announce an investigation into Democrat Joe Biden and his son Hunter.

Pelosi’s remarks also come amid tensions between the United States and Iran, following the Trump administration’s decision to assassinate Iran’s top commander, Gen. Qasem Soleimani, in an airstrike in Baghdad. That led to a retaliatory strike from Iran on U.S. targets in Iraq.

Soleimani led an elite branch of Iran’s armed forces, the Quds Force, and has been blamed for the deaths of many Americans across the Middle East.

Subscribe to CNBC on YouTube.


Company: cnbc, Activity: cnbc, Date: 2020-01-09  Authors: yelena dzhanova
Keywords: news, cnbc, companies, mcconnell, slated, force, trump, watch, conference, holds, articles, impeachment, iran, president, irans, tensions, senate, led, debate, pelosi, nancy


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post