Doing this when buying a home can ‘put your future at risk,’ expert says

Bankrate polled 2,582 adults, including 789 millennials ages 23-38, and asked participants how they are funding their down payments and closing costs. Over half, or 53%, of millennials say they’re saving. And 13% of millennial respondents say they’re tapping their retirement accounts, as compared to 8% and 7% of Gen Xers and baby boomers. Putting ‘your future at risk'”Tapping into retirement savings is a risky move that can put your future at risk,” says Deborah Kearns, a mortgage analyst for Ba


Bankrate polled 2,582 adults, including 789 millennials ages 23-38, and asked participants how they are funding their down payments and closing costs. Over half, or 53%, of millennials say they’re saving. And 13% of millennial respondents say they’re tapping their retirement accounts, as compared to 8% and 7% of Gen Xers and baby boomers. Putting ‘your future at risk'”Tapping into retirement savings is a risky move that can put your future at risk,” says Deborah Kearns, a mortgage analyst for Ba
Doing this when buying a home can ‘put your future at risk,’ expert says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-13  Authors: alizah salario, bob sullivan, ivana pino, myelle lansat
Keywords: news, cnbc, companies, buying, future, say, long, savings, think, financial, retirement, risk, respondents, money, expert, youre, millennials, doing


Doing this when buying a home can 'put your future at risk,' expert says

To save for a down payment on a new home, some millennials are getting creative, according to a recent survey of prospective homebuyers from Bankrate.com. But one of their strategies in particular, experts worry, may be shortsighted, and even risky. Bankrate polled 2,582 adults, including 789 millennials ages 23-38, and asked participants how they are funding their down payments and closing costs. (Respondents could pick multiple answers.) Over half, or 53%, of millennials say they’re saving. Some are taking more drastic steps: 14% say they’ve moved in with family or friends to cut down on expenses, and 12% are selling personal items such as jewelry, cars, or electronics. And 13% of millennial respondents say they’re tapping their retirement accounts, as compared to 8% and 7% of Gen Xers and baby boomers.

Graphic preview How people find the money to buy homes Millennials tend to use more sources to fund the down payment and closing costs on their first homes than other generations. Social chart title Note: Respondents could choose more than one answer. kiersten schmidt/grow Bankrate

Here’s why experts suggest you think twice before dipping into your retirement fund.

Putting ‘your future at risk’

“Tapping into retirement savings is a risky move that can put your future at risk,” says Deborah Kearns, a mortgage analyst for Bankrate. “By and large, homeownership has long been touted as the way you build wealth,” she says. “While that’s still true to some extent, you can’t overextend yourself to make that happen.” Mark LaSpisa, a certified financial planner and president of Vermillion Financial Advisors in South Barrington, Illinois, agrees. While there may be some cases in which putting equity from retirement savings into a home may make sense, the “psychological, habit-forming” component of drawing down from your retirement savings is a concern, too: “It’s easy to think, ‘I broke the seal, and now I can go in and raid my IRA for any reason,'” he says.

By and large, homeownership has long been touted as the way you build wealth. While that’s still true to some extent, you can’t overextend yourself to make that happen. Deborah Kearns mortgage analyst, Bankrate.com

Generally, when you pull from a retirement account before you reach age 59½, your withdrawal is considered an “early” or “premature” distribution. That means the money is subject to taxes and a 10% penalty. Traditional and Roth IRAs make an exception for first-time homebuyers, letting you avoid those consequences. But even if you’re not incurring additional costs in the short-term, you may well be setting yourself back over the long term. Let’s say you decide to take $10,000 out of your retirement account to put toward a first-home purchase, and you’re 32, the average age of first-time buyers. If you instead left that money in the account and it saw average returns of 8% over the next 33 years until you retire at 65, those funds would have grown to more than $126,700. But growing your retirement savings thanks to compounding interest is only part of why experts recommend leaving that $10,000 alone. If you chip away now at what you’ve already saved, you might find it harder to stay on track later with your retirement goals, should you experience a job loss or other financial emergency that affects your ability to save. For all of these reasons, Suze Orman’s advice is to leave the money in your retirement accounts alone. “Do not take a loan, do not make withdrawals, do not touch your retirement accounts,” Orman told CNBC Make It last year. “Because if you think you need that money now, I’m here to tell you you’re going to need it even more later on in life when you no longer have a paycheck coming in.”

Taking the long view


Company: cnbc, Activity: cnbc, Date: 2019-09-13  Authors: alizah salario, bob sullivan, ivana pino, myelle lansat
Keywords: news, cnbc, companies, buying, future, say, long, savings, think, financial, retirement, risk, respondents, money, expert, youre, millennials, doing


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

China adds US agricultural products to tariff exemptions ahead of trade talks

US–China trade war optimism? Big companies are not buying itTop executives do not think the U.S.-China trade war will be resolved soon. Sixty-five percent of U.S. CFOs think U.S. trade policy will be negative for their businesses over…CNBC Global CFO Councilread more


US–China trade war optimism? Big companies are not buying itTop executives do not think the U.S.-China trade war will be resolved soon. Sixty-five percent of U.S. CFOs think U.S. trade policy will be negative for their businesses over…CNBC Global CFO Councilread more
China adds US agricultural products to tariff exemptions ahead of trade talks Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-13  Authors: yun li, eric rosenbaum
Keywords: news, cnbc, companies, china, soon, ahead, resolved, think, tariff, agricultural, overcnbc, products, adds, talks, sixtyfive, optimism, trade, exemptions, policy, war, uschina


China adds US agricultural products to tariff exemptions ahead of trade talks

US–China trade war optimism? Big companies are not buying it

Top executives do not think the U.S.-China trade war will be resolved soon. Sixty-five percent of U.S. CFOs think U.S. trade policy will be negative for their businesses over…

CNBC Global CFO Council

read more


Company: cnbc, Activity: cnbc, Date: 2019-09-13  Authors: yun li, eric rosenbaum
Keywords: news, cnbc, companies, china, soon, ahead, resolved, think, tariff, agricultural, overcnbc, products, adds, talks, sixtyfive, optimism, trade, exemptions, policy, war, uschina


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Stocks rally as Trump delays tariffs on China — Cramer and other experts weigh in

Stocks rallied Thursday after President Donald Trump made “small concessions” to China by delaying tariffs on $250 billion in Chinese goods until the last half of October. Jim Cramer, host of CNBC’s “Mad Money,” said Trump is pushing for the Federal Reserve to mirror the ECB’s latest actions. Jim Paulsen, chief investment strategist at Leuthold Group, said the bond market is in a prime position to spur more gains in the U.S. stock market. Even this morning there is still a really close relations


Stocks rallied Thursday after President Donald Trump made “small concessions” to China by delaying tariffs on $250 billion in Chinese goods until the last half of October. Jim Cramer, host of CNBC’s “Mad Money,” said Trump is pushing for the Federal Reserve to mirror the ECB’s latest actions. Jim Paulsen, chief investment strategist at Leuthold Group, said the bond market is in a prime position to spur more gains in the U.S. stock market. Even this morning there is still a really close relations
Stocks rally as Trump delays tariffs on China — Cramer and other experts weigh in Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-12  Authors: toussaint campbell
Keywords: news, cnbc, companies, china, stocks, yields, rally, probably, weigh, cramer, think, lot, delays, stock, trump, president, good, bond, confidence, market, experts, tariffs


Stocks rally as Trump delays tariffs on China — Cramer and other experts weigh in

Stocks rallied Thursday after President Donald Trump made “small concessions” to China by delaying tariffs on $250 billion in Chinese goods until the last half of October.

Trump’s “gesture of goodwill” follows an earlier move by Beijing to exempt 16 types of American products from additional tariffs.

Markets also got a boost after the European Central Bank cut its deposit rate and relaunched a bond-buying program.

Three experts break down what comes next.

Jim Cramer, host of CNBC’s “Mad Money,” said Trump is pushing for the Federal Reserve to mirror the ECB’s latest actions.

“I think the Europeans should be careful. The president is no fan of [Angela] Merkel, the president is no fan of the way that the Europeans have handled their auto tariffs and they could be next. If they continue to make it so the euro is being debased, they ought to be very careful. I think the president is itching for something against them … I don’t think he’ll call [ECB President Mario] Draghi a bonehead because he wants our Fed chief to do exactly what Draghi is doing and just stay in step. The problem is they have no growth whatsoever so they gotta do something. We have some growth.”

Jim Paulsen, chief investment strategist at Leuthold Group, said the bond market is in a prime position to spur more gains in the U.S. stock market.

“There are some other good things going on here. I think not only the good trade news, but the fact that bond yields have shown a propensity to rise again shows a big vote of confidence coming from the bond market, which is healthy for stocks too. Even this morning there is still a really close relationship between the direction of that 10-year yield and the direction of the stock market. Also, economic surprise indices around the globe have picked up. They certainly have here in the United States but they also have [picked up] in the emerging world, in China and Europe so that kind of fresh upside economic momentum is starting to cause recession fears to fade a bit, so I think it’s more than just about the trade news. … We might be starting on a little change of character not only in bond yields but also in leadership in the stock market.”

Sameer Samana, global equity and technical strategist at the Wells Fargo Investment Institute, said the market is not as bearish as investors expected, but it’s still worth being prudent.

“At least on an expectation basis, it’s clear now to say that people probably got a little too ‘beared up.’ We were there in the fourth quarter of last year too and the way expectations work is eventually reality starts to outperform. The tricky part is unfortunately you do still have a lot of headwinds; a lot of the PMIs [purchasing managers’ indexes] and a lot of the business confidence is still very low, small-business confidence … ticked down, consumer confidence has started to roll over just a little bit, so we would probably be more in the cautious camp. There are some good things going on, but the market is also 200 points off its lows and you’ve got yields about 30 or so basis points higher, which has kind of been the April and July moves. It’s right in line with that. We would say at this point it’s probably a good time to rein in some of that stock exposure and maybe at least look at some of those longer duration fixed income instruments.”

Disclaimer


Company: cnbc, Activity: cnbc, Date: 2019-09-12  Authors: toussaint campbell
Keywords: news, cnbc, companies, china, stocks, yields, rally, probably, weigh, cramer, think, lot, delays, stock, trump, president, good, bond, confidence, market, experts, tariffs


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Dropcam founder Greg Duffy reportedly leaves Apple

US–China trade war optimism? Big companies are not buying itTop executives do not think the U.S.-China trade war will be resolved soon. Sixty-five percent of U.S. CFOs think U.S. trade policy will be negative for their businesses over…CNBC Global CFO Councilread more


US–China trade war optimism? Big companies are not buying itTop executives do not think the U.S.-China trade war will be resolved soon. Sixty-five percent of U.S. CFOs think U.S. trade policy will be negative for their businesses over…CNBC Global CFO Councilread more
Dropcam founder Greg Duffy reportedly leaves Apple Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-12  Authors: kif leswing
Keywords: news, cnbc, companies, soon, leaves, resolved, dropcam, apple, think, founder, overcnbc, sixtyfive, optimism, reportedly, trade, duffy, policy, war, uschina, greg


Dropcam founder Greg Duffy reportedly leaves Apple

US–China trade war optimism? Big companies are not buying it

Top executives do not think the U.S.-China trade war will be resolved soon. Sixty-five percent of U.S. CFOs think U.S. trade policy will be negative for their businesses over…

CNBC Global CFO Council

read more


Company: cnbc, Activity: cnbc, Date: 2019-09-12  Authors: kif leswing
Keywords: news, cnbc, companies, soon, leaves, resolved, dropcam, apple, think, founder, overcnbc, sixtyfive, optimism, reportedly, trade, duffy, policy, war, uschina, greg


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Millionaire in training: how to teach your kid to think like an entrepreneur

“It makes you value money more,” said Henske, who developed and runs his firm’s smart-money kids program. Here are other things you can do to encourage your kid become an self-starter — and help them get smart about money in the process. So, if your kid has a great idea, be curious about it and help nurture it. BrainstormDoes your kid want to find a way to start making money? Research the marketIf you think your kid’s idea has the potential to turn into a business, first research the market to s


“It makes you value money more,” said Henske, who developed and runs his firm’s smart-money kids program. Here are other things you can do to encourage your kid become an self-starter — and help them get smart about money in the process. So, if your kid has a great idea, be curious about it and help nurture it. BrainstormDoes your kid want to find a way to start making money? Research the marketIf you think your kid’s idea has the potential to turn into a business, first research the market to s
Millionaire in training: how to teach your kid to think like an entrepreneur Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-10  Authors: michelle fox, cnbc staff
Keywords: news, cnbc, companies, kids, millionaire, entrepreneur, think, idea, teach, dont, henske, money, help, start, training, business, kid


Millionaire in training: how to teach your kid to think like an entrepreneur

Hero Images | Hero Images | Getty Images

Kids can come up with some pretty amazing ideas. In fact, ear muffs, the popsicle and the trampoline were all invented by children. Even Berkshire Hathaway CEO Warren Buffett, who is worth $81.7 billion, according to Forbes, began hustling as a child, going door to door selling chewing gum. Yet, even if your kid isn’t destined to be the next Buffett or Mark Zuckerberg, encouraging an entrepreneurial mindset will help them develop necessary life skills, as well as teach them important financial lessons. “There are these unbelievable opportunities, as parents, that happen right under your roof to teach kids about money and entrepreneurship on the top of the list,” said Thomas Henske, a certified financial planner with New York-based Lenox Advisors.

Kids are just a sponge. When you expose them to things like brainstorming and prototyping, they get it. They are almost naturals at it. Don Bossi President, FIRST

By becoming an entrepreneur — whether it is simply putting up a neighborhood lemonade stand, launching a landscaping business or developing a new app — kids can learn about budgeting, saving, spending and investing. “It makes you value money more,” said Henske, who developed and runs his firm’s smart-money kids program. “It’s hard to make it. It’s hard to keep it.” It also helps children develop perseverance by learning from their failures, and it begins to introduce critical thinking, said Don Bossi, president of FIRST, a nonprofit organization that helps foster innovations by students K-12 in the fields of science, technology, engineering and math (STEM). “Failure is part of the learning process,” he said. “If they try something and it doesn’t work, instead of putting it down and walking away, nurture them,” he said. You can ask, “‘What did you learn from that? What can you do to make it better?'” Here are other things you can do to encourage your kid become an self-starter — and help them get smart about money in the process.

Foster creativity

The good news is young kids already think creatively. “Something about growing up sort of beats the creativity out of us,” Bossi said. “Young kids aren’t as constrained by history or what they know,” he added. “They are not afraid of being wrong. “They are not afraid of being told their idea is crazy. They are not afraid of failure.”

Henske agrees, pointing out that adults tend to group-think. So, if your kid has a great idea, be curious about it and help nurture it. Even if it is a “whacky” one, he said. “The second you start stifling it … they lose their confidence and start getting into group-think,” he warned.

Brainstorm

Does your kid want to find a way to start making money? The first thing to do is ask them what they can do to make it happen. That’s where brainstorming comes in. “Some kids will say, ‘I can rake the leaves,’ or ‘I can make the beds,'” Henske said. “You say, ‘Wow, could you build a business around that?'”

AndreyPopov | iStock | Getty Images

Henske likes to encourage brainstorming by using mind maps. It can be as simple as picking up a pen and paper or using an online tool, such as mindmeister.com. For example, his 15-year-old son came to him for money because he couldn’t get a job until he turned 16. Henske turned it around and asked him to come up with an idea to earn it on his own. His son is now developing an app and website that connects teens to neighbors who need chores done around the house. “There are cool opportunities for parents,” he said. “All you have to do is be aware and be on the lookout for it.”

Find a mentor

Kids don’t always like to take advice from their parents. “If your name is Mom or Dad, that pretty much means that you don’t know anything until that child turns 30,” quipped Henske. That’s why it’s important to have your child find mentors who can help guide them. It can be a local businessman, a family friend or an expert in the given field. More from Invest in You:

Make sure your kids grow up smart about money with these strategies

What successful couples know about money that you don’t

Here’s how much Americans are spending on their kids’ allowance To help explain his or her idea, your kid can even build a prototype to show to local experts, FIRST’s Bossi suggested. That could lead to success down the road. “Think ‘Shark Tank’ but at a local level,” he said.

Research the market

If you think your kid’s idea has the potential to turn into a business, first research the market to see what the need is and assess the competition. Come up with a business model and, if it is a product, figure out how much it would cost to produce it. “If all those things look good … your kid could start to talk to angel investors to see if someone can fund it, taking it from prototype and concept to production and maybe a real business,” said Bossi.

Teach life lessons along the way

As you guide your children through building and running their business, talk to them about profits and taxes, Henske said. You can also have them read books about famous entrepreneurs. But don’t overdo it. “Don’t get caught up, as a parent, trying to use the fire-hose method: You bring the kids in the room one day and sit in the room for five hours and teach them how to be entrepreneurs,” warned Henske.

SDI Productions | E+ | Getty Images

Instead, think about doing it a bit at a time. “Let it drip a little, let it sit and then talk about it,” he said. “And see what they come up with. “Or even let it sit a couple of weeks,” he added.

The bottom line


Company: cnbc, Activity: cnbc, Date: 2019-09-10  Authors: michelle fox, cnbc staff
Keywords: news, cnbc, companies, kids, millionaire, entrepreneur, think, idea, teach, dont, henske, money, help, start, training, business, kid


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Former Fed Vice Chair Kohn backs rate cut, rejects Dudley suggestion to foil Trump

In a CNBC interview, Kohn indicated he believes the Fed will follow market expectations and lower its benchmark overnight lending rate by 25 basis points at its Sept. 17-18 meeting. The economy is fine, it’s growing around 2%, has been growing around 2% for the last year. Market expectations are for another cut in either October or December, followed by an additional easing in early 2020. “I’m much less certain than the market seems to be that we need a whole bunch of decreases here,” he said. D


In a CNBC interview, Kohn indicated he believes the Fed will follow market expectations and lower its benchmark overnight lending rate by 25 basis points at its Sept. 17-18 meeting. The economy is fine, it’s growing around 2%, has been growing around 2% for the last year. Market expectations are for another cut in either October or December, followed by an additional easing in early 2020. “I’m much less certain than the market seems to be that we need a whole bunch of decreases here,” he said. D
Former Fed Vice Chair Kohn backs rate cut, rejects Dudley suggestion to foil Trump Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-10  Authors: jeff cox
Keywords: news, cnbc, companies, trump, suggestion, kohn, fed, vice, dudley, rates, rejects, cut, rate, foil, trumps, market, thing, think


Former Fed Vice Chair Kohn backs rate cut, rejects Dudley suggestion to foil Trump

The Federal Reserve should cut interest rates next week and not listen to a suggestion that it consider keeping rates level to harm President Donald Trump’s re-election chances, former central bank Vice Chairman Donald Kohn said Tuesday.

In a CNBC interview, Kohn indicated he believes the Fed will follow market expectations and lower its benchmark overnight lending rate by 25 basis points at its Sept. 17-18 meeting.

“I think they have ample reason to do that. The economy is fine, it’s growing around 2%, has been growing around 2% for the last year. The unemployment rate is low,” he said on “Closing Bell.” “But there are downside risks there from the trade war and the global slowdown, and inflation is running a bit below their target.”

However, he said he’s not sure how far the policymaking Federal Open Market Committee should go beyond that.

Market expectations are for another cut in either October or December, followed by an additional easing in early 2020. The FOMC already has cut once this year, a 25 basis point reduction that was the first since 2008 after having raised the funds rate nine times since December 2015. The funds rate is currently targeted between 2% and 2.25%.

“So I think buying a bit more insurance is the right thing to do at this meeting. What I’m not so sure about is where they will be going after that,” he said.

“I’m much less certain than the market seems to be that we need a whole bunch of decreases here,” he said.

He did express certainty against a suggestion from former New York Fed President Bill Dudley, who argued in a Bloomberg Opinion piece that the FOMC should push back against Trump’s intense criticism of the Fed by not lowering rates. Doing so, Dudley wrote, might hamper Trump’s re-election which he called “a threat to the U.S. and global economy.”

“I thought it was wrong and harmful,” Kohn said of Dudley’s commentary. “The Fed needs to keep away from politics. They need to apply the best economic analysis possible to achieve legislative mandates.”

He said writing the piece was “a very dangerous thing to do.”

CNBC has reached out to Dudley for comment.


Company: cnbc, Activity: cnbc, Date: 2019-09-10  Authors: jeff cox
Keywords: news, cnbc, companies, trump, suggestion, kohn, fed, vice, dudley, rates, rejects, cut, rate, foil, trumps, market, thing, think


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Your kids don’t think your money skills measure up

While most of the nation’s youngest adults say they learn about money from Mom and Dad, they also think high schools should step up for future graduates. And although 74% say they mostly learn about money matters from their parents, just 58% name them as financial role models. Additionally, 51% are afraid money issues will stop them from doing the things they want to do in life. Parents also can do many things along the way to give their kids even some basic lessons about making choices with mon


While most of the nation’s youngest adults say they learn about money from Mom and Dad, they also think high schools should step up for future graduates. And although 74% say they mostly learn about money matters from their parents, just 58% name them as financial role models. Additionally, 51% are afraid money issues will stop them from doing the things they want to do in life. Parents also can do many things along the way to give their kids even some basic lessons about making choices with mon
Your kids don’t think your money skills measure up Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-10  Authors: sarah obrien, cnbc staff
Keywords: news, cnbc, companies, financial, way, dont, henske, measure, money, learn, skills, kids, say, topics, thing, think, things


Your kids don't think your money skills measure up

While most of the nation’s youngest adults say they learn about money from Mom and Dad, they also think high schools should step up for future graduates.

More than three-quarters (76%) of 18- and 19-year-olds say classes about managing finances should be required in high school, according to new research from Experian. And although 74% say they mostly learn about money matters from their parents, just 58% name them as financial role models. Additionally, 51% are afraid money issues will stop them from doing the things they want to do in life.

“The one thing we know that kids are going to have to deal with as adults is money,” said certified financial planner Tom Henske, a partner at New York-based Lenox Advisors.

“They’re probably thinking, ‘How could you send me out into the world not being proficient in this very important topic?'” Henske said.

The Experian research was based on a survey that explored the attitudes of 18- and 19-year-olds — members of Generation Z — about a variety of personal finance topics, ranging from how they track their finances (their smartphone, of course) to their financial goals and the topics they want to know more about. Roughly half (52%) of the 545 people surveyed were enrolled in college and the remainder (48%) were not. A majority (64%) had never taken a personal finance class.

Although 45 states include the curriculum in their standards, just 19 require students to take such classes.

“We want kids to have a good pathway to a fruitful career, but then they arrive in adulthood and we haven’t given them essential tools they’ll need,” said Nan Morrison, CEO of the Council for Economic Education and a member of the CNBC Financial Wellness Council. “The best thing to do is teach them along the way, and schools are the right place for that.”

Parents also can do many things along the way to give their kids even some basic lessons about making choices with money and budgeting, Henske said. One of the simplest options is to give even young children an allowance.

“How do we get them to learn about money if they don’t have money in their hands?” Henske said. “They can make small mistakes along the way, or big mistakes with small amounts, and there are lessons in those experiences.”


Company: cnbc, Activity: cnbc, Date: 2019-09-10  Authors: sarah obrien, cnbc staff
Keywords: news, cnbc, companies, financial, way, dont, henske, measure, money, learn, skills, kids, say, topics, thing, think, things


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Watch out for this key level in Facebook, Piper Jaffray technical analyst says

The increased regulatory pressure from federal and state bodies hasn’t deterred Craig Johnson, chief market technician at Piper Jaffray. So, we would continue to be a buyer here of Facebook shares,” said Johnson. Gina Sanchez, CEO of Chantico Global, says regulatory risk could knock Facebook down from its high valuations. Facebook trades at nearly 22 times forward earnings. If anything, I think that risk continues to grow,” said Sanchez.


The increased regulatory pressure from federal and state bodies hasn’t deterred Craig Johnson, chief market technician at Piper Jaffray. So, we would continue to be a buyer here of Facebook shares,” said Johnson. Gina Sanchez, CEO of Chantico Global, says regulatory risk could knock Facebook down from its high valuations. Facebook trades at nearly 22 times forward earnings. If anything, I think that risk continues to grow,” said Sanchez.
Watch out for this key level in Facebook, Piper Jaffray technical analyst says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-09  Authors: keris lahiff
Keywords: news, cnbc, companies, risk, level, facebook, analyst, think, shares, piper, technical, moving, trading, trades, times, watch, sanchez, key, jaffray, state


Watch out for this key level in Facebook, Piper Jaffray technical analyst says

Facebook is under a fresh wave of scrutiny.

New York State Attorney Letitia James launched a joint investigation into potential antitrust violations on Friday, joining Florida, Iowa, and Colorado among others in putting the heat on Facebook. The latest probe comes on top of an investigation by the Federal Trade Commission.

The increased regulatory pressure from federal and state bodies hasn’t deterred Craig Johnson, chief market technician at Piper Jaffray.

“We’re still friendly toward the shares,” Johnson said on CNBC’s “Trading Nation” on Friday. “When you look at this chart, we’re still making a series of higher highs and higher lows coming off the December lows, and we’re moving right up toward that 50-day moving average at $191.”

Facebook touched the 50-day moving average on Thursday, but dipped lower Friday. It has not traded above that trend line since early August.

“Any sort of move above that $191 level sets the stock up to move back toward the $204 or $205 range which I do think is a logical place to go. So, we would continue to be a buyer here of Facebook shares,” said Johnson.

Gina Sanchez, CEO of Chantico Global, says regulatory risk could knock Facebook down from its high valuations.

“Facebook, even despite all of this news, is still trading at a premium in terms of forward PE relative to the industry, and so I don’t know that it’s necessarily pricing in the risk that some of these probes present to Facebook,” Sanchez said on the same segment.

Facebook trades at nearly 22 times forward earnings. The XLC communication services ETF by comparison trades with an 18.5 times multiple.

“These probes don’t go away. If anything, I think that risk continues to grow,” said Sanchez. “At the end of the day, we continue to grapple with whether or not companies like this should even be run for profit or are they simply just a commodity and a utility that really isn’t going to make growth kinds of returns.”

Disclaimer


Company: cnbc, Activity: cnbc, Date: 2019-09-09  Authors: keris lahiff
Keywords: news, cnbc, companies, risk, level, facebook, analyst, think, shares, piper, technical, moving, trading, trades, times, watch, sanchez, key, jaffray, state


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Fall housing shifts quickly to a buyer’s market

“We do expect housing market activity to remain relatively stable, and the favorable rate environment should continue supporting increased refinance activity.” At an open house in Dallas on Sunday, a few dozen potential buyers toured a home listed at just under $1.4 million. “It’s not a seller’s market right now. McMahon said the concern is less about the overall health of the housing market, and more about the future of the economy. Darrell and Carrie Smith toured the Dallas open house but are


“We do expect housing market activity to remain relatively stable, and the favorable rate environment should continue supporting increased refinance activity.” At an open house in Dallas on Sunday, a few dozen potential buyers toured a home listed at just under $1.4 million. “It’s not a seller’s market right now. McMahon said the concern is less about the overall health of the housing market, and more about the future of the economy. Darrell and Carrie Smith toured the Dallas open house but are
Fall housing shifts quickly to a buyer’s market Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-09  Authors: diana olick
Keywords: news, cnbc, companies, shifts, quickly, sellers, rates, fall, market, open, housing, survey, house, think, dallas, buyers


Fall housing shifts quickly to a buyer's market

An Open house in Dallas, Sunday, Sept. 8, 2019. Bethany Jordan | CNBC

Mortgage rates are around the lowest in three years, but buyers are suddenly much more cautious about purchasing a home. Competition is cooling, and consequently sellers can no longer command any price. Consumer sentiment in housing did improve in August, according to a monthly survey from Fannie Mae, but only because of a big jump in the share of those who think mortgage rates will keep falling. Other components of the survey were not so rosy. Fewer people think now is a good time to buy or sell a home, and fewer said they are not concerned about losing their job in the next year. “Unfortunately, much of the lower interest rate environment can be attributed to global economic uncertainties, which appear to have dampened consumer sentiment regarding the direction of the economy,” said Doug Duncan, chief economist at Fannie Mae. “We do expect housing market activity to remain relatively stable, and the favorable rate environment should continue supporting increased refinance activity.”

At an open house in Dallas on Sunday, a few dozen potential buyers toured a home listed at just under $1.4 million. The agent for the home said the market is still moving, but buyers are getting more picky. “I definitely think it has softened a bit,” said Kelley McMahon a Dallas-area agent with Compass. “It’s not a seller’s market right now. Now is not the time for sellers to put out these crazy prices. Appraisals have gotten a lot harder, and buyers are a little more cautious. They’re more willing to take their time.” McMahon said the concern is less about the overall health of the housing market, and more about the future of the economy. “I think people are a little more cautious to pull the trigger, and I definitely think that people want to get through the election year, just kind of see what happens,” she added. That is clearly showing up in the competition, or lack thereof. Just more than 10% of offers written by Redfin in August faced a bidding war, according to the brokerage’s monthly survey. That is down from 42% a year ago. The supply of homes for sale is growing in the midrange and higher end, but it is still tight at the entry level, where low rates matter most because buyers are more cash-strapped. “Despite remaining near three-year lows, mortgage rates have failed to bring enough buyers to the market to rev up competition for homes this summer,” said Daryl Fairweather, chief economist at Redfin. “Recession fears have been enough to spook some would-be buyers from making the big financial commitment of a home purchase.” Darrell and Carrie Smith toured the Dallas open house but are still considering enlarging their current home instead of buying something bigger.


Company: cnbc, Activity: cnbc, Date: 2019-09-09  Authors: diana olick
Keywords: news, cnbc, companies, shifts, quickly, sellers, rates, fall, market, open, housing, survey, house, think, dallas, buyers


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Mark Sanford will mount Republican primary challenge against Trump

Former South Carolina Republican congressman and governor Mark Sanford announced on Sunday that he is launching a 2020 campaign against President Donald Trump. With his announcement, Sanford becomes the third Republican to challenge Trump for the presidency, along with Tea Party Republican and one-term Illinois congressman Joe Walsh and former Massachusetts governor William Weld. Trump has received a consistently high approval rating in the high 80s among Republican voters, and is essentially gu


Former South Carolina Republican congressman and governor Mark Sanford announced on Sunday that he is launching a 2020 campaign against President Donald Trump. With his announcement, Sanford becomes the third Republican to challenge Trump for the presidency, along with Tea Party Republican and one-term Illinois congressman Joe Walsh and former Massachusetts governor William Weld. Trump has received a consistently high approval rating in the high 80s among Republican voters, and is essentially gu
Mark Sanford will mount Republican primary challenge against Trump Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-08  Authors: emma newburger
Keywords: news, cnbc, companies, president, think, south, trump, debt, governor, mark, lost, primary, sanford, challenge, republican, mount


Mark Sanford will mount Republican primary challenge against Trump

Former South Carolina Republican congressman and governor Mark Sanford announced on Sunday that he is launching a 2020 campaign against President Donald Trump.

“I think we need to have a conversation about what it means to be a Republican. I think that as a Republican party we have lost our way,” he said in an interview on “Fox News Sunday.”

Sanford, who was ousted from Congress after speaking out against Trump, plans to make debt, deficit and spending the focus of his campaign. He’s been thinking about a presidential primary run since since mid-July.

“The epicenter of where I’m coming from is that we have lost our way on debt and deficits and spending,” he said. “The president has called himself the king of debt, has a familiarity and comfort level with debt that I think is ultimately leading us in the wrong direction.”

The federal deficit has increased under the Trump administration, and will widen to $1 trillion for the 2020 fiscal year, according to Congressional Budget Office forecasts.

With his announcement, Sanford becomes the third Republican to challenge Trump for the presidency, along with Tea Party Republican and one-term Illinois congressman Joe Walsh and former Massachusetts governor William Weld.

Trump has received a consistently high approval rating in the high 80s among Republican voters, and is essentially guaranteed to win the Republican primary.

Sanford served as a U.S. Representative for South Carolina’s 1st congressional district from 1995-2001 and 2013-2019. He was elected governor of the state in 2002 and served two terms. In 2018, Sanford lost his reelection bid to the House after Trump endorsed South Carolina state Representative Katie Arrington.

“I think we need to have a conversation on the degree to which institutions and political culture are being damaged by this president,” Sanford said. “Those institutions and that political culture are really the glue that holds together our balance of power.”

Sanford’s announcement comes after his home state’s GOP decided not to have a Republican primary.

“With no legitimate primary challenger and President Trump’s record of results, the decision was made to save South Carolina taxpayers over $1.2 million and forgo an unnecessary primary,” said South Carolina GOP Chairman Drew McKissick.

While he was governor in 2009, Sanford was plagued with a scandal after he said he was on the Appalachian Trail, when he was actually in Argentina having an extramarital affair. Despite that controversy, Sanford was re-elected in 2013 to the congressional seat he had held before he was elected as governor.

Trump helped doom Sanford’s 2018 primary campaign. In response to Sanford’s criticism of Trump, the president took to Twitter the day of the election to attack him and endorse his opponent.

“Mark Sanford has been very unhelpful to me in my campaign to MAGA. He is MIA and nothing but trouble,” Trump wrote. “He is better off in Argentina.”

In August, Trump wrote that he had the “Three Stooges” running against him, referring to the Republicans who have announced bids for the White House.

“One is ‘Mr. Appalachian Trail’ who was actually in Argentina for bad reasons. Another is a one-time BAD Congressman from Illinois who lost in his second term by a landslide, then failed in radio. The third is a man who couldn’t stand up straight while receiving an award,” Trump wrote. “I should be able to take them!”


Company: cnbc, Activity: cnbc, Date: 2019-09-08  Authors: emma newburger
Keywords: news, cnbc, companies, president, think, south, trump, debt, governor, mark, lost, primary, sanford, challenge, republican, mount


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post