Oil surges as US ends Iran sanction waivers—four experts forecast what’s next

Crude prices surged after the announcement, with the U.S. benchmark, West Texas Intermediate crude, gaining nearly 3 percent. So I think that’s one potential silver lining of higher oil. And so my guess is that economic activity stays where it is [and] oil prices will remain relatively constant. That’s going to couple with what we’ve been seeing in Venezuela, this likely forcing the oil price up [like] we’ve seen this morning. RBC Capital Markets’ head of U.S. equity strategy, Lori Calvasina, wa


Crude prices surged after the announcement, with the U.S. benchmark, West Texas Intermediate crude, gaining nearly 3 percent. So I think that’s one potential silver lining of higher oil. And so my guess is that economic activity stays where it is [and] oil prices will remain relatively constant. That’s going to couple with what we’ve been seeing in Venezuela, this likely forcing the oil price up [like] we’ve seen this morning. RBC Capital Markets’ head of U.S. equity strategy, Lori Calvasina, wa
Oil surges as US ends Iran sanction waivers—four experts forecast what’s next Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: lizzy gurdus, eddie seal, bloomberg, getty images, johannes eisele, afp, anna moneymaker, kcna, thomas barwick getty images, source
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Oil surges as US ends Iran sanction waivers—four experts forecast what's next

Things are heating up in the energy market.

The Trump administration announced Monday that it would end exemptions to its sanctions on Iran, a move meant to significantly curb Iran’s oil output. Crude prices surged after the announcement, with the U.S. benchmark, West Texas Intermediate crude, gaining nearly 3 percent.

Here’s what experts say higher oil prices could mean for the broader market:

Savita Subramanian, head of U.S. equity and quantitative strategy at Bank of America Merrill Lynch, said a significant uptick in the price of crude would likely be a double-edged sword:

“[Higher] oil is actually good for corporate profits because the S&P [500] is levered to oil, so I think this could be a source of positive earnings surprise[s] for the year where analysts are penciling in super low expectations. So I think that’s one potential silver lining of higher oil. And then … consumers are making more money, so we might not feel that energy pinch until we get to higher levels. But $5 a gallon in California is not a good environment to be in, so we’re getting to a point where this could turn ugly.”

Aperture Investors CEO Peter Kraus didn’t anticipate major changes to the status quo:

“I think the oil prices are going to continue to reflect this sort of restriction in supply. And we’re not going to see a lot of new drilling based on these prices. We’re not going to see more holes being punched into the world to create more oil at these current prices. And so my guess is that economic activity stays where it is [and] oil prices will remain relatively constant. […] People predicted oil was going to go to $100, $120 a barrel, which I don’t see happening.”

Alex Dryden, global market strategist at J.P. Morgan, said macroeconomic global risks could catch up to the oil market itself:

“I think what you’re looking at is incoming restrictions on supply. That’s going to couple with what we’ve been seeing in Venezuela, this likely forcing the oil price up [like] we’ve seen this morning. Now, again, it’s about how sustainable that oil price is. You look at … the futures market. Go three years out — you typically go out that far when you want to take out political risk and look at how much geopolitical risk premium [is] priced into oil. Right now, it’s some of the highest levels since the Arab Spring. That’s not exactly a great backdrop for energy companies to really be able to continue to put that oil number in in a reliable way going forward. So, certainly some question marks over it.”

RBC Capital Markets’ head of U.S. equity strategy, Lori Calvasina, was fairly bullish on the prospect of higher oil prices for the broader market:


Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: lizzy gurdus, eddie seal, bloomberg, getty images, johannes eisele, afp, anna moneymaker, kcna, thomas barwick getty images, source
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Staples stocks are at 52-week highs, but there’s still time to buy, experts say

Consumer staples are moving upwards, here are the ETFs to watch 5 Hours Ago | 02:36Investors are doubling down on the market’s staples. The Consumer Staples Select Sector SPDR Fund, widely known by its ticker, XLP, hit a new 52-week high on Monday, a more than 18% climb from its lows in December. Even so, Nadig still sees opportunities, particularly in U.S.-based consumer staples ETFs. But if you ask ETF expert Reggie Brown, who is senior managing director of Cantor Fitzgerald’s ETF group, inves


Consumer staples are moving upwards, here are the ETFs to watch 5 Hours Ago | 02:36Investors are doubling down on the market’s staples. The Consumer Staples Select Sector SPDR Fund, widely known by its ticker, XLP, hit a new 52-week high on Monday, a more than 18% climb from its lows in December. Even so, Nadig still sees opportunities, particularly in U.S.-based consumer staples ETFs. But if you ask ETF expert Reggie Brown, who is senior managing director of Cantor Fitzgerald’s ETF group, inves
Staples stocks are at 52-week highs, but there’s still time to buy, experts say Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: lizzy gurdus
Keywords: news, cnbc, companies, experts, stocks, little, investors, staples, think, theres, group, xlp, highs, etf, consumer, 52week, nadig, high, buy, say


Staples stocks are at 52-week highs, but there's still time to buy, experts say

Consumer staples are moving upwards, here are the ETFs to watch 5 Hours Ago | 02:36

Investors are doubling down on the market’s staples.

The Consumer Staples Select Sector SPDR Fund, widely known by its ticker, XLP, hit a new 52-week high on Monday, a more than 18% climb from its lows in December. The move was fueled by stronger-than-expected quarterly earnings from Kleenex parent Kimberly-Clark, which could set the rest of the group up for a good week of reporting.

Still, Dave Nadig, managing director of ETF.com, is encouraging investors to be careful with this group, which many see as a safe haven in the stock market.

“I think ‘new highs’ is a relative term,” he said Monday on CNBC’s “ETF Edge.” “We’re only up 12, 13% in this space. This is far from the high-flying segment.”

And with industry giants Procter & Gamble and Coca-Cola — which account for more than 25% of the XLP — reporting later this week, that’s “a lot of concentration” to discount at the moment, Nadig said.

Even so, Nadig still sees opportunities, particularly in U.S.-based consumer staples ETFs.

“I’m still a believer that we’re in a global slowdown environment, [so] I’d rather stick to the U.S.,” he said. “I think it’s a little more understandable, a little more controllable. I would go with equal-weight here because I think that that concentration … could help you. If P&G really blows the doors off, you’ll want that exposure. But I think, long term … the smaller names are doing as well as the bigger names. Why not give yourself a little bit of short-term diversification?”

Alternative plays with exposure to the automotive space could also serve investors well, Nadig said.

But if you ask ETF expert Reggie Brown, who is senior managing director of Cantor Fitzgerald’s ETF group, investors’ moves this earnings season will ultimately boil down to two factors.

“Investors love earnings and outcomes,” he said in the same “ETF Edge” interview. “So I think you’re seeing a drive into the sector based on performance of the underlying companies and, as you know, ETFs represent performance of underlying stocks. So you’re seeing investors want to have exposure.”

The XLP flattened after reaching its 52-week high in Monday’s trading session, hovering in the $56 range. The Invesco S&P 500 Equal Weight Consumer Staples ETF, its equally weighted counterpart, also hit a 52-week high.


Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: lizzy gurdus
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Earnings and data could be proof that slowdown fears were overblown

The outlook for first-quarter growth has suddenly shifted upward, after a series of better data releases later in the quarter. This past week, China reported first-quarter GDPat 6.4%, slightly better than the 6.3% expected by economists. I think investors have kind of gotten past this notion of global downturn. I do think next week is going to be important for earnings. Dan Suzuki, portfolio strategist at Richard Bernstein Advisors, said he still sees deteriorating fundamentals for both earnings


The outlook for first-quarter growth has suddenly shifted upward, after a series of better data releases later in the quarter. This past week, China reported first-quarter GDPat 6.4%, slightly better than the 6.3% expected by economists. I think investors have kind of gotten past this notion of global downturn. I do think next week is going to be important for earnings. Dan Suzuki, portfolio strategist at Richard Bernstein Advisors, said he still sees deteriorating fundamentals for both earnings
Earnings and data could be proof that slowdown fears were overblown Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-19  Authors: patti domm, brendan mcdermid
Keywords: news, cnbc, companies, important, slowdown, quarter, investors, proof, china, market, overblown, fears, earnings, data, going, think, week


Earnings and data could be proof that slowdown fears were overblown

Earnings season shifts into a higher gear in the week ahead, as investors also watch for fresh economic data that could show that the economy is pulling out of a temporary rut.

Amazon, Boeing, Microsoft and ExxonMobil are among more than 140 S&P 500 companies reporting quarterly results. According to Refinitiv, 74% of the companies reporting so far have beaten expectations. Based on forecasts and actual reports, earnings for the S&P 500 as a whole are expected to decline 1.7%, the first negative quarter in three years. Some forecasters had projected an earnings decline of 4% or more.

The equivalent of the economy’s first-quarter report card will be released Friday, with the first reading of GDP. The outlook for first-quarter growth has suddenly shifted upward, after a series of better data releases later in the quarter. CNBC/Moody’s Analytics Rapid Update survey shows economists’ median forecast is now tracking at 2.4%, way above the 1% expected earlier in the quarter, when severe winter weather and the government shutdown were stifling the economy.

At the same time, investors are feeling better about global growth and far less fearful of a recession in the near term. One reason is that China’s data has also been picking up. This past week, China reported first-quarter GDPat 6.4%, slightly better than the 6.3% expected by economists.

“I think a lot of this is leveraged on economic activity. I think investors have kind of gotten past this notion of global downturn. The China number was pretty good earlier in the week. I do think next week is going to be important for earnings. We’re going to get a great cross section of industries,” said Jack Ablin, CIO at Cresset Wealth Advisors. On Wednesday, China’s first quarter GDP

U.S. trade talks with China could be also important in the week ahead, with negotiations continuing and investors awaiting news of a summit between President Donald Trump and China President Xi Jinping.

Dan Suzuki, portfolio strategist at Richard Bernstein Advisors, said he still sees deteriorating fundamentals for both earnings and the economy, even though data appears to be improving.

“I think it’s a function of expectations were probably dropping too quickly, and I think recent data is telling you that growth isn’t collapsing but it’s slowing,” he said. “I think that’s very important. That’s probably going to be the most important dynamic. That’s probably going to continue.”

That could make for a choppier market at some point, he said. Suzuki said he could see stocks ending the year higher than current levels but he expects to see the market pull back first.

The market shrugged off Thursday’s release of special counsel Robert Mueller’s report on the Trump campaign and Russian election interference.

“This type of thing firmly falls into the category of it can move the needle for the market on a daily or weekly performance basis, but it’s not going to be a longer term story for the market,” Suzuki said. Analysts have said the economy’s performance is more important for Trump’s reelection than the report at this point.

What to Watch

Monday

Earnings: Halliburton, Kimberly-Clark, Whirlpool, Celanese, Allison Transmission, Range Resources, WW Grainger, Zions Bancorp, Cadence Designs

10:00 a.m. Existing home sales

Tuesday

Earnings: Coca-Cola, Lockheed Martin, Procter and Gamble, Verizon, Twitter, NextEra Energy, Northern Trust, Teradyne, Carlisle Cos, United Technologies, Fifth Third, JetBlue, Harley Davidson, PulteGroup, State Street, eBay, Six Flags, Stryker, Snap, Texas Instruments, Canadian Pacific Railway, Kaiser aluminum

9:00 a.m. FHFA home prices

9:45 a.m. Manufacturing PMI 9:45 a.m. Services PMI 10:00 a.m. New home sales

Wednesday

Earnings: AT&T, Caterpillar, Boeing, Facebook, Microsoft, Visa, Tesla, PayPal, General Dynamics, Northrop Grumman, Chipotle Mexican Grill, F5 Networks, Boston Beer, Churchill Downs, Netgear, Sirius XM, Moody’s, T.Rowe Price, Spirit Airlines, Graco, Biogen, Domino’s Pizza, Nasdaq OMX, Anthem, Boston Scientific

Thursday

Earnings: Amazon, 3M, Comcast, Bristol-Myers Squibb, Freeport-McMoRan, Hershey, Alexion Pharma, Altria, Barclays, UBS, Starbucks, Intel, Ford, Discover Financial, Eastman Chemical, Alaska Air, American Electric, Illinois Tool Works, Nintendo, UPS, DR Horton, Capitol One, Valero Energy, Southwest Air, Nokia, Tractor Supply, Brunswick

8:30 a.m. Initial claims

8:30 a.m. Durable goods 10:00 a.m. Housing vacancies

Friday

Earnings: Exxon Mobil, Chevron; Archer Daniels Midland, AstraZeneca, Colgate-Palmolive, Daimler, Cabot Oil and Gas, AutoNation, Autoliv, Bloomin’ Brands, Deutsche Bank, Sanofi, Sony,

8:30 a .m. Real GDP (Q1 advance)

8:30 a.m. Advance economic indicators

10:00 a.m. Consumer sentiment


Company: cnbc, Activity: cnbc, Date: 2019-04-19  Authors: patti domm, brendan mcdermid
Keywords: news, cnbc, companies, important, slowdown, quarter, investors, proof, china, market, overblown, fears, earnings, data, going, think, week


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Economy could be ‘a lot of power’ for GOP heading into 2020 elections, says strategist Jim Paulsen

The Republicans may have some good news heading into the 2020 presidential election season, noted market strategist Jim Paulsen told CNBC on Thursday. But before that happens, he thinks it’s even possible for an unexpected surge in the stock market. While many on Wall Street think the market will go higher this year, there are few who think it will go a lot higher, Paulsen said. “Maybe the surprise is not that it is going to fall or go a little higher, maybe it blows a lot higher than it even sh


The Republicans may have some good news heading into the 2020 presidential election season, noted market strategist Jim Paulsen told CNBC on Thursday. But before that happens, he thinks it’s even possible for an unexpected surge in the stock market. While many on Wall Street think the market will go higher this year, there are few who think it will go a lot higher, Paulsen said. “Maybe the surprise is not that it is going to fall or go a little higher, maybe it blows a lot higher than it even sh
Economy could be ‘a lot of power’ for GOP heading into 2020 elections, says strategist Jim Paulsen Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-18  Authors: michelle fox
Keywords: news, cnbc, companies, gop, higher, jim, economy, told, growth, 2020, strategist, stock, market, think, heading, lot, elections, thats, power, paulsen


Economy could be 'a lot of power' for GOP heading into 2020 elections, says strategist Jim Paulsen

The Republicans may have some good news heading into the 2020 presidential election season, noted market strategist Jim Paulsen told CNBC on Thursday.

That’s because he sees the timing of economic growth and the character of the economy as the most important issues for the election.

“In some sense, we may look back on this and say that the slowdown, if there was one here in 2019, might have been great timing for the Republican Party,” the chief investment strategist at The Leuthold Group said on “Power Lunch.”

In other words, if the economy slows down and the Trump administration and other global officials bring on the “full policy cavalry,” it will probably end up reviving economic growth both in the U.S. and abroad, Paulsen said.

“If that is the case going into voting season next year — where the economy is continuing to do not just OK but accelerating, and the unemployment rate is heading to 3% and wages continue to rise — I think that’s a lot of power for the Republican Party.”

While there was concern about a weak economy late last year, things are looking better. Retail sales soared in March, rising 1.6%, and weekly jobless claims came in at the lowest level since 1969 for the week ended April 13. Initial claims for state unemployment benefits dropped 5,000 to a seasonally adjusted 192,000.

Forecasts have also come up for first-quarter gross domestic product. Next week, the government releases its advanced estimate of Q1 GDP. According to the CNBC Rapid Update, which measures how much new data changes the average tracking forecast among a select group of Wall Street economists, the median GDP forecast is now at 2.4%. That’s up from as low as 1% in March.

All that is good news for the stock market — for now, said Paulsen. He still thinks that at some point the Federal Reserve, in raising interest rates, will kill the economic recovery.

“It almost did last year. We were close to killing it off. But we hit the pause button,” he said, referring to the Fed’s decision earlier this year to hold off on raising interest rates after there were concerns about the economy dramatically slowing.

“Now we are just entering a period where we are going to have revival in growth without Fed tightening. That’s pretty good,” Paulsen said.

He sees a case where the yield on the 10-year Treasury can jump back above 3% and still not really hurt stocks.

However, at some point the Fed will be tightening again.

“Then it becomes a mixed bag and ultimately the Fed overdoes it,” he said. “That’s probably sometime off.”

But before that happens, he thinks it’s even possible for an unexpected surge in the stock market.

While many on Wall Street think the market will go higher this year, there are few who think it will go a lot higher, Paulsen said.

“Maybe the surprise is not that it is going to fall or go a little higher, maybe it blows a lot higher than it even should.”

Paulsen’s comments echo those of BlackRock CEO Larry Fink, who told CNBC on Tuesday that the market could have a quick rally from here.

“We have a risk of a melt-up, not a meltdown here. Despite where the markets are in equities, we have not seen money being put to work,” the head of the world’s largest asset manager told CNBC’s “Squawk Box.” “We have record amounts of money in cash. We still see outflows in retail in equities and in institutions.”

In stock market terms, a melt-up is considered a big move in the markets that comes from investors trying to get in on a momentum shift. It also can be a sign of a late-stage bull market.

— CNBC’s Fred Imbert and Reuters contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-04-18  Authors: michelle fox
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Cramer’s lightning round: This stock needs to find out its calling

It needs to find out its calling, ’cause it sure wasn’t calling in that last quarter. I think they’re trying to make something happen. Kraft Heinz Co.: “They cut the dividend. I am not a buyer of Kraft Heinz … I actually prefer Campbell to Kraft Heinz, and that says something.” Moderna Inc.: “I think it makes a lot of sense … I think it’s a good place to start a position.”


It needs to find out its calling, ’cause it sure wasn’t calling in that last quarter. I think they’re trying to make something happen. Kraft Heinz Co.: “They cut the dividend. I am not a buyer of Kraft Heinz … I actually prefer Campbell to Kraft Heinz, and that says something.” Moderna Inc.: “I think it makes a lot of sense … I think it’s a good place to start a position.”
Cramer’s lightning round: This stock needs to find out its calling Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-18  Authors: tyler clifford
Keywords: news, cnbc, companies, theyre, kraft, good, lightning, needs, im, calling, stock, cramers, tell, think, place, heinz, round, quarter


Cramer's lightning round: This stock needs to find out its calling

Signet Jewelers Ltd.: “I think Signet’s really gotta find its calling. It needs to find out its calling, ’cause it sure wasn’t calling in that last quarter. We gotta wait.”

Funko Inc.: “The reason why they’re all over the place [is] ’cause they have some of the absolute best toys … I’m not just saying Funko’s great because this is available in no store. But I have to tell you, I think Funko is gonna have a good quarter and I like the fact that they got that Disney calendar … So I say [buy].”

Marvell Technology Group Ltd.: “You know what. I’m partial to Marvell. I happen to like the board. I think they’re trying to make something happen. [Buy].”

Tailored Brands Inc.: “I have to tell you no. It’s about five sizes too small. I don’t want you to touch this one.”

Abiomed Inc.: “I think that even in the sell-off for health care devices, it still went up. You can’t keep a good stock down. I also like EW.”

Kraft Heinz Co.: “They cut the dividend. They got very little growth. They have food that lasts even in the event of thermonuclear war. I am not a buyer of Kraft Heinz … I actually prefer Campbell to Kraft Heinz, and that says something.”

AllianecBerstein Holding LP: “Big yield. Looks good.”

Moderna Inc.: “I think it makes a lot of sense … I think it’s a good place to start a position.”


Company: cnbc, Activity: cnbc, Date: 2019-04-18  Authors: tyler clifford
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Investors don’t think Mueller report will get in the way of Trump reelection

Read more: The redacted Mueller report is expected Thursday. And the other thing is how does Trump react? But even so, the headlines coming from the Mueller report are not expected to rock the stock market unless they start to seriously weaken Trump. He also said at this point, he does not think investors are convinced Trump will win reelection. Earlier this week, Goldman Sachs economists issued a report saying Trump has a narrow advantage in the 2020 election at this point.


Read more: The redacted Mueller report is expected Thursday. And the other thing is how does Trump react? But even so, the headlines coming from the Mueller report are not expected to rock the stock market unless they start to seriously weaken Trump. He also said at this point, he does not think investors are convinced Trump will win reelection. Earlier this week, Goldman Sachs economists issued a report saying Trump has a narrow advantage in the 2020 election at this point.
Investors don’t think Mueller report will get in the way of Trump reelection Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-17  Authors: patti domm, kevin lamarque
Keywords: news, cnbc, companies, report, president, trump, think, reelection, economy, impact, does, going, dont, way, investors, mueller


Investors don't think Mueller report will get in the way of Trump reelection

The release of special counsel Robert Mueller’s report is unlikely to change the growing sense in markets that President Donald Trump can win reelection if the economy remains solid, analysts say.

A redacted version of Mueller’s report is expected to be released Thursday morning, and it should add context to the four-page summary released last month by Attorney General William Barr. The attorney general said Mueller did not establish conspiracy or coordination between the Trump campaign and the Russians.

The state of the economy next year will end up mattering more, analysts say. Instead of concerning themselves too much with the details that could emerge from the Mueller report, investors are paying more attention to its potential impact on whether the president can reach a trade agreement with China.

“A lot of this is priced in already, and the market is saying that Trump is going to be the candidate,” said Daniel Clifton, head of policy research at Strategas. “The risks of impeachment are very low even if there’s something in that report. I think the consensus view holds, and does it make it easier to get a China deal through? The answer is yes.”

Still, there are uncertainties about what the report could reveal. Analysts expect there to be much focus on details that can be used to argue either way whether there was any appearance of obstruction of justice by the president. Barr said there was insufficient evidence to charge Trump with obstruction, but he also said “while this report does not conclude that President committed a crime, it also does not exonerate him.”

Mueller’s two-year probe resulted in criminal charges against 35 people and three companies, including the president’s long time personal lawyer, Michael Cohen, his former campaign manager Paul Manafort and the former national security adviser Michael Flynn.

Read more: The redacted Mueller report is expected Thursday. Here’s how we got here, and what’s next

“There are a couple of wild cards. How many embarrassing things will be revealed? And the other thing is how does Trump react? If he gets furious about these allegations, there will be a lot of eyebrows raised,” said Horizon Investment’s chief global strategist, Greg Valliere. “The other wildcard is eventually Mueller is going to have to testify. I think the Mueller testimony will be explosive and refocus attention. … When Trump says he’s totally exonerated, he has not been totally exonerated. That has yet to be addressed.”

But even so, the headlines coming from the Mueller report are not expected to rock the stock market unless they start to seriously weaken Trump.

“I don’t think it’s going to have a lot of impact,” said James Paulsen, chief investment strategist at Leuthold Group. “It’s possible that the way it has impact is not so much whether Trump gets impeached or not, but if it tends to alter the political polls either way, then it would have impact.”

Democrats are expected to seize on any questionable issue, and Paulsen said what matters is if it continues to look like Republicans can hold the Senate and White House. He also said at this point, he does not think investors are convinced Trump will win reelection.

“I think a loss of the Republican side would have Wall Street’s expectations dialed back, and there would be concerns around regulations and different tax policies. I think that would hurt outlooks. To the extent it would move the needle one way or other, it would have impact, but I don’t think it will,” he said. “I still think the bigger thing ultimately will be where the economy goes. If the economy does fade or accelerates again going into the election, that’s huge.”

Valliere also said the economy is what ultimately matters most.

“I think there’s a growing sentiment that the Democratic field is not particularly strong, and I think there’s a growing sentiment if the economy stays in decent shape, yes, he is the favorite,” said Valliere.

Earlier this week, Goldman Sachs economists issued a report saying Trump has a narrow advantage in the 2020 election at this point.


Company: cnbc, Activity: cnbc, Date: 2019-04-17  Authors: patti domm, kevin lamarque
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Pete Buttigieg enlists Barack Obama, Hillary Clinton fundraisers for 2020 campaign

The GOP has been taken over by an economic populist, says Mayor Pete Buttigieg 11:13 AM ET Fri, 12 April 2019 | 03:31″The more I watched him, the more I thought he was performing at a level above all the other candidates. “I think he’s put himself out there in every possible venue. The ex-wife of “Curb Your Enthusiasm” creator Larry David, Laurie David produced the Oscar-winning climate change documentary “An Inconvenient Truth.” He is a founding partner at legal powerhouse Phillips & Cohen, and


The GOP has been taken over by an economic populist, says Mayor Pete Buttigieg 11:13 AM ET Fri, 12 April 2019 | 03:31″The more I watched him, the more I thought he was performing at a level above all the other candidates. “I think he’s put himself out there in every possible venue. The ex-wife of “Curb Your Enthusiasm” creator Larry David, Laurie David produced the Oscar-winning climate change documentary “An Inconvenient Truth.” He is a founding partner at legal powerhouse Phillips & Cohen, and
Pete Buttigieg enlists Barack Obama, Hillary Clinton fundraisers for 2020 campaign Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-17  Authors: brian schwartz, scott olson, getty images
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Pete Buttigieg enlists Barack Obama, Hillary Clinton fundraisers for 2020 campaign

The GOP has been taken over by an economic populist, says Mayor Pete Buttigieg 11:13 AM ET Fri, 12 April 2019 | 03:31

“The more I watched him, the more I thought he was performing at a level above all the other candidates. He has an optimistic message and I liked him,” said Elmendorf, who bundled more than $100,000 for Clinton’s 2016 campaign, according to the nonpartisan Center for Responsive Politics. “I just think everything about him is the opposite of Trump in a good way and when he answers every question he’s trying to find solutions. He’s not attacking anyone.”

“I think he’s put himself out there in every possible venue. He’s done every possible interview and has done well. He comes across as authentic,” he said. “There’s something to be said about someone from out of Washington and a new, young person in this race.”

Read more: Obama fundraiser and former hedge fund executive plans to back Joe Biden in 2020

Film producer and environmental activist Laurie David is another prominent member of the Buttigieg bundling list. The ex-wife of “Curb Your Enthusiasm” creator Larry David, Laurie David produced the Oscar-winning climate change documentary “An Inconvenient Truth.”

Members of the wealthy Pohlad family – which owns a group of more than 30 Minneapolis-based businesses, including Major League Baseball’s Minnesota Twins – are also backing Buttigieg. According to Forbes, the family’s total net-worth as of 2015 was $3.8 billion. Robert Pohlad backed Obama in 2012 and helped rake in at least $500,000 that cycle.

Jill Goldman, a Los Angeles activist and filmmaker who was a member of Obama’s 2008 national finance committee, is also behind Buttigieg. She helped Obama bring in at least $200,000 throughout his first run for the White House.

John Phillips, who previously was U.S. ambassador to Italy under Obama, is also on the list. He is a founding partner at legal powerhouse Phillips & Cohen, and he raised at least $500,000 for Obama in 2012.

David, Goldman and Phillips did not return requests for comment. Pohlad could not be reached. CNBC also reached out to others on the list.

Read more: Pete Buttigieg said ‘all lives matter’ during police controversy in 2015

Hedge fund executive and bundler Orin Kramer is also backing Buttigieg. The New York Times and CNBC earlier reported Kramer’s support for the South Bend mayor.


Company: cnbc, Activity: cnbc, Date: 2019-04-17  Authors: brian schwartz, scott olson, getty images
Keywords: news, cnbc, companies, fundraisers, phillips, david, 2020, think, possible, enlists, reached, pete, buttigieg, campaign, barack, pohlad, clinton, hillary, hes, obama


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Retail sales likely bounced back on expected higher spending on gasoline, cars

Consumers are expected to have spent more on gasoline and cars in March, likely pushing monthly retail sales higher after February’s surprise decline. Economists expect retail sales rose by 0.9% for the month, but 0.7% when autos are not included, according to Refinitiv data. March retail sales are scheduled to be released Thursday at 8:30 a.m. “Wage gains picked up a little bit year over year, but it’s lackluster compared to the spending growth … hourly earnings growth is lagging consumer spe


Consumers are expected to have spent more on gasoline and cars in March, likely pushing monthly retail sales higher after February’s surprise decline. Economists expect retail sales rose by 0.9% for the month, but 0.7% when autos are not included, according to Refinitiv data. March retail sales are scheduled to be released Thursday at 8:30 a.m. “Wage gains picked up a little bit year over year, but it’s lackluster compared to the spending growth … hourly earnings growth is lagging consumer spe
Retail sales likely bounced back on expected higher spending on gasoline, cars Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-17  Authors: patti domm, beth hall, bloomberg, getty images
Keywords: news, cnbc, companies, higher, retail, growth, consumer, gdp, think, consumers, sales, cars, expected, surprise, spending, gasoline, bounced, expects, likely


Retail sales likely bounced back on expected higher spending on gasoline, cars

Consumers are expected to have spent more on gasoline and cars in March, likely pushing monthly retail sales higher after February’s surprise decline.

Economists expect retail sales rose by 0.9% for the month, but 0.7% when autos are not included, according to Refinitiv data.

The monthly sales number is being watched closely to see whether consumer spending is recovering after a string of uneven reports, including December’s sharp decline and February’s surprise drop of 0.2%. January’s sales gained 0.7%. March retail sales are scheduled to be released Thursday at 8:30 a.m. ET.

The sales report includes a key component used by economists to calculate GDP growth, scheduled to be reported next Friday for the first quarter. The retail sales report is one of the last pieces of data. First-quarter GDP looked to be barely growing early on in the period, but has gone from sub-1% to just over 2% in a few weeks.

Scott Anderson, chief economist at Bank of the West, said he expects to see a bounceback in March sales in part because because February sales were so weak.

“We think the consumer is going to slow the pace of their spending this year,” he said. “Wage gains picked up a little bit year over year, but it’s lackluster compared to the spending growth … hourly earnings growth is lagging consumer spending growth. That dynamic hasn’t changed. Consumers were really confident, spending a lot last year. They’re probably going to have to tighten their belts.”

Mark Zandi, chief economist at Moody’s Analytics, expects retail sales to be up at least 1%. “Part of that is vehicle sales. Weather is favorable so building materials supplies stores should be solid. I think it could be up at least a point, but it could be higher than that,” he said.

“Core sales [excluding autos, gasoline and building materials] are probably up 0.3%. I think the data coming out of payment processors continued to be soft in March,” he said. “Consumers are really turning cautious since the end of the year.”

Anderson said he expects GDP growth of about 2.2% for the first quarter but that number has been inflated by inventories so there could be some pay back in the second quarter.

Economists surveyed by CNBC/Moody’s Analytics rapid update had a consensus median tracking estimate of 2.1% for first-quarter growth.


Company: cnbc, Activity: cnbc, Date: 2019-04-17  Authors: patti domm, beth hall, bloomberg, getty images
Keywords: news, cnbc, companies, higher, retail, growth, consumer, gdp, think, consumers, sales, cars, expected, surprise, spending, gasoline, bounced, expects, likely


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US banks’ first-quarter profits may be the best that they can get this year, Citi analyst says

U.S. banks have delivered a mixed bag of first-quarter financial results so far — but that’s probably the sector’s best this year, especially if the Federal Reserve does not increase interest rates at all, according to a Citi analyst. Four of the six largest American banks have released their first-quarter financial results over the past week. “When we look at profitability, particularly net interest margins … we think we’re at peak margins right now, we think this is as good as it gets both i


U.S. banks have delivered a mixed bag of first-quarter financial results so far — but that’s probably the sector’s best this year, especially if the Federal Reserve does not increase interest rates at all, according to a Citi analyst. Four of the six largest American banks have released their first-quarter financial results over the past week. “When we look at profitability, particularly net interest margins … we think we’re at peak margins right now, we think this is as good as it gets both i
US banks’ first-quarter profits may be the best that they can get this year, Citi analyst says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-16  Authors: yen nee lee, justin sullivan, getty images
Keywords: news, cnbc, companies, thats, think, margins, ghose, analyst, profits, firstquarter, profitability, rates, citi, interest, best, banks, results, net


US banks' first-quarter profits may be the best that they can get this year, Citi analyst says

U.S. banks have delivered a mixed bag of first-quarter financial results so far — but that’s probably the sector’s best this year, especially if the Federal Reserve does not increase interest rates at all, according to a Citi analyst.

Four of the six largest American banks have released their first-quarter financial results over the past week. Among them, J.P. Morgan and Wells Fargo reported quarterly profit and revenue that exceeded analysts’ expectations, while Goldman Sachs and Citigroup both missed estimates on their revenue.

Morgan Stanley and Bank of America are scheduled to report earnings this week.

With the Fed already signalling that it did not expect to hike interest rates this year, the banking industry’s ability to generate higher profits in the coming months may be limited, said Ronit Ghose, the global head of banks research at Citi.

“When we look at profitability, particularly net interest margins … we think we’re at peak margins right now, we think this is as good as it gets both in terms of net interest margins and profitability,” he told CNBC’s “Capital Connection” on Tuesday.

Net interest margin is a widely watched indicator that measures a bank’s lending profitability. The potential absence of further interest rates increases by the Fed means that banks may not be able to charge more on loans in the coming months.

“If we don’t see more rate raises, which is likely … that’s not great news for margins going ahead,” said Ghose.


Company: cnbc, Activity: cnbc, Date: 2019-04-16  Authors: yen nee lee, justin sullivan, getty images
Keywords: news, cnbc, companies, thats, think, margins, ghose, analyst, profits, firstquarter, profitability, rates, citi, interest, best, banks, results, net


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Goldman Sachs expects weak earnings growth across all major markets in 2019

Investors can expect weak earnings growth across all major markets in 2019, according to Goldman Sachs’ chief global equity strategist. Both Goldman and Citigroup missed revenue estimates in financial results announced on Monday, with fellow Wall Street giants Morgan Stanley and Bank of America scheduled to report earnings later this week. “We do think that earnings growth is going to be quite weak this year in all of the major markets,” he said. “So having seen the rebound that we’ve had alread


Investors can expect weak earnings growth across all major markets in 2019, according to Goldman Sachs’ chief global equity strategist. Both Goldman and Citigroup missed revenue estimates in financial results announced on Monday, with fellow Wall Street giants Morgan Stanley and Bank of America scheduled to report earnings later this week. “We do think that earnings growth is going to be quite weak this year in all of the major markets,” he said. “So having seen the rebound that we’ve had alread
Goldman Sachs expects weak earnings growth across all major markets in 2019 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-16  Authors: elliot smith
Keywords: news, cnbc, companies, europe, sachs, goldman, think, markets, secondhalf, recovery, expects, earnings, growth, major, 2019, going, weak


Goldman Sachs expects weak earnings growth across all major markets in 2019

Investors can expect weak earnings growth across all major markets in 2019, according to Goldman Sachs’ chief global equity strategist.

Both Goldman and Citigroup missed revenue estimates in financial results announced on Monday, with fellow Wall Street giants Morgan Stanley and Bank of America scheduled to report earnings later this week.

Goldman’s Peter Oppenheimer told CNBC’s “Squawk Box Europe” on Tuesday that more dovish guidance from central banks has been crucial in triggering a recovery in equity markets, meaning the focus will now shift to earnings season.

“We do think that earnings growth is going to be quite weak this year in all of the major markets,” he said. “So having seen the rebound that we’ve had already, much is going to depend now on how far earnings can grow, and I think that’s going to be quite modest.”

While the first quarter is expected to be negative for the U.S., Goldman Sachs expects a recovery at quarterly level during the second-half of the year, both in the U.S. and globally.

He added: “We do think global activity will improve in the second-half of the year, even in Europe which has really lagged behind, we have some tailwinds from moderation in fiscal policy, particularly in Germany, and also Europe should benefit from the pickup in China and elsewhere.”


Company: cnbc, Activity: cnbc, Date: 2019-04-16  Authors: elliot smith
Keywords: news, cnbc, companies, europe, sachs, goldman, think, markets, secondhalf, recovery, expects, earnings, growth, major, 2019, going, weak


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