Investor foresees a ‘volatility event’ near the end of 2019

Investor foresees a ‘volatility event’ near the end of 20193 Hours AgoDavid Sokulsky of the Concentrated Leaders Fund says markets are have not priced in risks such as Brexit uncertainty and the U.S.-China trade war.


Investor foresees a ‘volatility event’ near the end of 20193 Hours AgoDavid Sokulsky of the Concentrated Leaders Fund says markets are have not priced in risks such as Brexit uncertainty and the U.S.-China trade war.
Investor foresees a ‘volatility event’ near the end of 2019 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-15
Keywords: news, cnbc, companies, uschina, war, investor, trade, end, foresees, volatility, sokulsky, markets, near, uncertainty, event, 2019, risks, priced


Investor foresees a 'volatility event' near the end of 2019

Investor foresees a ‘volatility event’ near the end of 2019

3 Hours Ago

David Sokulsky of the Concentrated Leaders Fund says markets are have not priced in risks such as Brexit uncertainty and the U.S.-China trade war.


Company: cnbc, Activity: cnbc, Date: 2019-10-15
Keywords: news, cnbc, companies, uschina, war, investor, trade, end, foresees, volatility, sokulsky, markets, near, uncertainty, event, 2019, risks, priced


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Uniqlo-owner Fast Retailing keeps posting record profits, but one analyst warns of uncertainty

Japan’s Fast Retailing could see a “period of slow growth” despite recently announcing record profits, according to one analyst that spoke to CNBC on Friday. Fast Retailing projected operating profits would grow 6.7% in fiscal 2020, well below the 15% growth analysts polled by Refinitiv had estimated. “It’s a great, great name, great brand but there’s a lot of uncertainty,” Peter Boardman, managing director at NWQ Investment Management, told CNBC’s “Squawk Box” on Friday. So any sort of slowdown


Japan’s Fast Retailing could see a “period of slow growth” despite recently announcing record profits, according to one analyst that spoke to CNBC on Friday. Fast Retailing projected operating profits would grow 6.7% in fiscal 2020, well below the 15% growth analysts polled by Refinitiv had estimated. “It’s a great, great name, great brand but there’s a lot of uncertainty,” Peter Boardman, managing director at NWQ Investment Management, told CNBC’s “Squawk Box” on Friday. So any sort of slowdown
Uniqlo-owner Fast Retailing keeps posting record profits, but one analyst warns of uncertainty Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-11  Authors: eustance huang
Keywords: news, cnbc, companies, fast, south, warns, fiscal, analyst, profit, growth, boardman, retailing, uniqloowner, uncertainty, profits, company, great, keeps, posting, record


Uniqlo-owner Fast Retailing keeps posting record profits, but one analyst warns of uncertainty

Japan’s Fast Retailing could see a “period of slow growth” despite recently announcing record profits, according to one analyst that spoke to CNBC on Friday.

The firm, which owns apparel giant Uniqlo, said Thursday that it had booked record profit for the third-straight year, sending shares about 2.5% higher in Friday trading. Operating profit rose 9.1% in the year ended Aug. 31, in line with market expectations.

But the retailer’s profit forecast missed expectations. Fast Retailing projected operating profits would grow 6.7% in fiscal 2020, well below the 15% growth analysts polled by Refinitiv had estimated.

“It’s a great, great name, great brand but there’s a lot of uncertainty,” Peter Boardman, managing director at NWQ Investment Management, told CNBC’s “Squawk Box” on Friday. “Things are slowing down.”

Recent data have pointed to a slowing Chinese economy after years of rapid growth, with concerns that the worst may not be over.

“Remember, 35% of their profits come out of China. So any sort of slowdown in China is certainly negatively affecting Fast Retailing or Uniqlo,” Boardman said.

China has been a major growth market for Fast Retailing. Earlier this year, the retailer said it expects sales from the greater China region to hit 1 trillion yen (about $9.26 billion) by fiscal 2022. That would be nearly double the 502.5 billion yen (roughly $4.65 billion) in sales the company reported for fiscal 2019.

Fast Retailing also faces challenges stemming from Tokyo’s ongoing trade dispute with Seoul, which has resulted in South Korean consumers boycotting Japanese products. That’s a risk that Fast Retailing Chief Executive Tadashi Yanai highlighted as “serious.”

In fiscal 2019, the company said its South Korea business reported a decline in both revenue and profit. Fast Retailing also forecast “large declines” in the country for fiscal 2020.

NWQ’s Boardman said South Korea accounts for about 3% of Fast Retailing’s revenues, a figure that was “not material” but at the same time a “significant amount of money.”

Going forward, Boardman said the pace of new store openings will be “a lot slower” than before, but added that it was “just a sign of a maturing company.”


Company: cnbc, Activity: cnbc, Date: 2019-10-11  Authors: eustance huang
Keywords: news, cnbc, companies, fast, south, warns, fiscal, analyst, profit, growth, boardman, retailing, uniqloowner, uncertainty, profits, company, great, keeps, posting, record


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European lawmakers warn US that aircraft trade dispute threatens growth and relations

European governments continued to call for a negotiated settlement to trade disputes between the United States and the European Union (EU) on Thursday. “They are not based on fundamentals of our economy,” he told CNBC in an interview. “They don’t respond to any sort of imbalances that we really have in the global economy.” The director general of the Geneva-based multilateral trade arbiter, Roberto Azevedo, acknowledges that some of Washington’s other recent trade moves, executed outside the WTO


European governments continued to call for a negotiated settlement to trade disputes between the United States and the European Union (EU) on Thursday. “They are not based on fundamentals of our economy,” he told CNBC in an interview. “They don’t respond to any sort of imbalances that we really have in the global economy.” The director general of the Geneva-based multilateral trade arbiter, Roberto Azevedo, acknowledges that some of Washington’s other recent trade moves, executed outside the WTO
European lawmakers warn US that aircraft trade dispute threatens growth and relations Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-10  Authors: willem marx
Keywords: news, cnbc, companies, threatens, threat, european, scheduled, tariffs, uncertainty, economy, global, lawmakers, aircraft, worth, warn, growth, relations, told, dispute, trade


European lawmakers warn US that aircraft trade dispute threatens growth and relations

14 March 2018, Germany, Frankfurt am Main: An Airbus A380 (L) and a retro design Boeing 747-8 cross each others path at the ramp of Frankfurt Airport.

European governments continued to call for a negotiated settlement to trade disputes between the United States and the European Union (EU) on Thursday.

The latest plea comes a little more than a week before American tariffs of between 10 and 25% are scheduled to take effect on billions of dollars worth of European exports, ranging from civilian aircraft to agricultural products like cheese and wine.

An array of finance ministers gathered in Luxembourg for monthly meetings told CNBC that the escalating global trade disputes represented a significant threat to European economies, but that the imposition of tariffs by Washington would nevertheless force Europe to respond in kind.

Mario Centeno, the Portuguese finance minister who steers the regular gathering of his euro zone counterparts, said the uncertainty over trade and the threat of fresh tariffs were risks to the economic order that were “political in nature.”

“They are not based on fundamentals of our economy,” he told CNBC in an interview. “They don’t respond to any sort of imbalances that we really have in the global economy.”

The Trump administration’s impending tariffs on $7.5bn worth of European goods are scheduled to kick in on October 18th, in retaliation for decades of European nations’ subsidies to aircraft manufacturer Airbus, and subsequent non-compliance with previous World Trade Organisation rulings.

The director general of the Geneva-based multilateral trade arbiter, Roberto Azevedo, acknowledges that some of Washington’s other recent trade moves, executed outside the WTO’s framework, have been “unorthodox.”

But even though the new EU-targeting sanctions will be entirely permissible under WTO rules, he told CNBC’s Joumanna Bercetche in an interview Thursday that he hoped the US and EU would “sit down, talk and find a negotiated solution, because the last thing we need at this point in time is an escalation of tariff barriers and trade restrictions.”

He posited that sanctions and trade conflicts have been “provoking the level of uncertainty that is slowing down the economy, the global economy across the board.”


Company: cnbc, Activity: cnbc, Date: 2019-10-10  Authors: willem marx
Keywords: news, cnbc, companies, threatens, threat, european, scheduled, tariffs, uncertainty, economy, global, lawmakers, aircraft, worth, warn, growth, relations, told, dispute, trade


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Goldman downgrades Cisco, says trade ‘uncertainty’ is causing businesses to cut spending

The struggling IPO class of 2019 could be facing another wave of… Lock up periods are expiring for new IPOs, which could introduce a new layer of pressure for some already struggling stocks this year. Marketsread more


The struggling IPO class of 2019 could be facing another wave of… Lock up periods are expiring for new IPOs, which could introduce a new layer of pressure for some already struggling stocks this year. Marketsread more
Goldman downgrades Cisco, says trade ‘uncertainty’ is causing businesses to cut spending Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-10  Authors: pippa stevens
Keywords: news, cnbc, companies, ipos, downgrades, stocks, periods, cisco, trade, struggling, businesses, cut, yearmarketsread, goldman, wave, ipo, spending, oflock, pressure, layer, uncertainty, causing


Goldman downgrades Cisco, says trade 'uncertainty' is causing businesses to cut spending

The struggling IPO class of 2019 could be facing another wave of…

Lock up periods are expiring for new IPOs, which could introduce a new layer of pressure for some already struggling stocks this year.

Markets

read more


Company: cnbc, Activity: cnbc, Date: 2019-10-10  Authors: pippa stevens
Keywords: news, cnbc, companies, ipos, downgrades, stocks, periods, cisco, trade, struggling, businesses, cut, yearmarketsread, goldman, wave, ipo, spending, oflock, pressure, layer, uncertainty, causing


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Goldman downgrades Cisco, says trade ‘uncertainty’ is causing businesses to cut spending

The struggling IPO class of 2019 could be facing another wave of… Lock up periods are expiring for new IPOs, which could introduce a new layer of pressure for some already struggling stocks this year. Marketsread more


The struggling IPO class of 2019 could be facing another wave of… Lock up periods are expiring for new IPOs, which could introduce a new layer of pressure for some already struggling stocks this year. Marketsread more
Goldman downgrades Cisco, says trade ‘uncertainty’ is causing businesses to cut spending Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-10  Authors: pippa stevens
Keywords: news, cnbc, companies, ipos, downgrades, stocks, periods, cisco, trade, struggling, businesses, cut, yearmarketsread, goldman, wave, ipo, spending, oflock, pressure, layer, uncertainty, causing


Goldman downgrades Cisco, says trade 'uncertainty' is causing businesses to cut spending

The struggling IPO class of 2019 could be facing another wave of…

Lock up periods are expiring for new IPOs, which could introduce a new layer of pressure for some already struggling stocks this year.

Markets

read more


Company: cnbc, Activity: cnbc, Date: 2019-10-10  Authors: pippa stevens
Keywords: news, cnbc, companies, ipos, downgrades, stocks, periods, cisco, trade, struggling, businesses, cut, yearmarketsread, goldman, wave, ipo, spending, oflock, pressure, layer, uncertainty, causing


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Stocks in Asia decline amid US-China trade uncertainty

Stocks in Asia traded lower Wednesday afternoon amid growing uncertainty over the high-level trade negotiations between the U.S. and China due to commence later this week. Mainland Chinese stocks declined by the afternoon, with the Shanghai composite down 0.14% and Shenzhen component declining 0.54%. U.S. President Donald Trump has said the increase in duties will kick in if no progress is made in bilateral trade negotiations. “It is clear from just the events of today and recent days that the t


Stocks in Asia traded lower Wednesday afternoon amid growing uncertainty over the high-level trade negotiations between the U.S. and China due to commence later this week. Mainland Chinese stocks declined by the afternoon, with the Shanghai composite down 0.14% and Shenzhen component declining 0.54%. U.S. President Donald Trump has said the increase in duties will kick in if no progress is made in bilateral trade negotiations. “It is clear from just the events of today and recent days that the t
Stocks in Asia decline amid US-China trade uncertainty Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-09  Authors: eustance huang
Keywords: news, cnbc, companies, chinese, decline, uschina, washington, stocks, asia, negotiations, shares, tech, dropped, tariffs, uncertainty, amid, trade


Stocks in Asia decline amid US-China trade uncertainty

Stocks in Asia traded lower Wednesday afternoon amid growing uncertainty over the high-level trade negotiations between the U.S. and China due to commence later this week. Mainland Chinese stocks declined by the afternoon, with the Shanghai composite down 0.14% and Shenzhen component declining 0.54%. The Shenzhen composite also slipped 0.347%. Hong Kong’s Hang Seng index shed 0.68% as shares of Chinese tech behemoth Tencent dropped 1.24%. The Nikkei 225 in Japan slipped 0.64% while the Topix index shed 0.42%. In Australia, the S&P/ASX 200 declined 0.7% as most of the sectors traded lower. Overall, the MSCI Asia ex-Japan index shed 0.57%. Markets in South Korea are closed on Wednesday for a holiday.

Apple suppliers fall

Shares of Apple suppliers in Asia largely declined following criticism from Chinese state media on the U.S. tech giant’s decision to allow an app on its app store used by protestors in Hong Kong. The app in question, HKmap.live, tracks the movement of police around the city. In Japan, shares of Sharp dropped 2.63% while Murata Manufacturing rose 0.11%. Sunny Optical shares in Hong Kong plunged 3% as AAC Tech also fell 3.26%. Contract manufacturer Pegatron’s stock fell 1.27%, as did shares of Taiwan Semiconductor Manufacturing Company, which was down 1.22%. iPhone assembler Hon Hai Precision Industry, better known as Foxconn, also dropped 0.81%. Shares of China-based Luxshare and GoerTek fell 5.08% and 4.09%, respectively. Both companies assemble Apple’s AirPods.

US-China tensions

Investors watch for market reaction to overnight developments in U.S.-China tensions. Washington expanded its trade blacklist to include some of China’s top artificial intelligence firms on Monday, in response to Beijing’s alleged treatment of predominantly Muslim ethnic minorities. For its part, China’s Ministry of Commerce said the U.S. should “stop interfering” in the country’s internal affairs and “remove” the relevant entities from the list “as soon as possible.” Those latest developments cloud the outlook for the upcoming U.S.-China trade negotiations, set to kick off on Thursday amid the looming prospect of more tariffs from Washington on goods from Beijing. The White House has scheduled an increase in U.S. tariffs on $250 billion worth of Chinese goods to 30% from 25% on Oct. 15. U.S. President Donald Trump has said the increase in duties will kick in if no progress is made in bilateral trade negotiations. “It is clear from just the events of today and recent days that the trade negotiations with China are definitely not getting any closer to resolution. If anything, they’re getting further away,” Carl Tannenbaum, chief economist at Northern Trust, told CNBC’s “Squawk Box” on Wednesday. “The two sides — even though there are still negotiations scheduled for Thursday of this week in Washington — seem to be taking steps on both sides to distance themselves from one another,” Tannenbaum added. “In that context, the trade headwind that the economy has been facing around the world is certainly going to remain there if not intensify.” The protracted trade fight between the U.S. and China has already lasted for more than a year, with both parties slapping tariffs on billions of dollars worth of each other’s goods, denting investor sentiment and raising fears over the outlook for the global economy.

Asia-Pacific Market Indexes Chart

Overnight on Wall Street, stocks tumbled amid the dented hopes for a U.S.-China trade deal. The Dow Jones Industrial Average plunged 313.98 points to close at 26,164.04 while the S&P 500 slipped 1.6% to end its trading day stateside 2,893.06. The Nasdaq Composite dropped 1.7% to close at 7,823.78.

Currencies and oil


Company: cnbc, Activity: cnbc, Date: 2019-10-09  Authors: eustance huang
Keywords: news, cnbc, companies, chinese, decline, uschina, washington, stocks, asia, negotiations, shares, tech, dropped, tariffs, uncertainty, amid, trade


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Top investor makes contrarian call as trade uncertainty grips Wall Street

Trade talks don’t resume until Thursday, but Wall Street is already worried a deal can be struck. As tensions escalate, Institutional Investor hall of famer Richard Bernstein is ready to make a contrarian call on one casualty of the trade conflict — the Chinese economy. “Because of trade, there’s been tremendous amounts of monetary and fiscal stimulus injected into the Chinese economy. “Surprise, surprise, China is the only major economy where leading indicators — very important word ‘leading in


Trade talks don’t resume until Thursday, but Wall Street is already worried a deal can be struck. As tensions escalate, Institutional Investor hall of famer Richard Bernstein is ready to make a contrarian call on one casualty of the trade conflict — the Chinese economy. “Because of trade, there’s been tremendous amounts of monetary and fiscal stimulus injected into the Chinese economy. “Surprise, surprise, China is the only major economy where leading indicators — very important word ‘leading in
Top investor makes contrarian call as trade uncertainty grips Wall Street Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-08  Authors: keris lahiff
Keywords: news, cnbc, companies, makes, indicators, bernstein, investor, leading, economy, uncertainty, grips, work, utilities, sectors, wall, trade, contrarian, chinese, signs, street


Top investor makes contrarian call as trade uncertainty grips Wall Street

Trade talks don’t resume until Thursday, but Wall Street is already worried a deal can be struck.

The Dow tumbled more than 200 points on Tuesday morning as pressure increased heading into the high-level negotiations. The Trump administration blacklisted some Chinese tech on Monday and is reportedly considering limiting government pension investment in Chinese stocks.

As tensions escalate, Institutional Investor hall of famer Richard Bernstein is ready to make a contrarian call on one casualty of the trade conflict — the Chinese economy.

“Because of trade, there’s been tremendous amounts of monetary and fiscal stimulus injected into the Chinese economy. Now, unless you believe that Economics 101 doesn’t work anymore, which I would argue is incredibly bearish, then you should start to look for signs that the economy is beginning to turn,” the CEO of Richard Bernstein Advisors told CNBC’s “Trading Nation” on Monday.

Chinese GDP declined in the second quarter to 6.2%, down from 6.7% in the three months to June 2018. Bernstein sees signs of a turnaround in another data set.

“Surprise, surprise, China is the only major economy where leading indicators — very important word ‘leading indicators’ — are accelerating,” said Bernstein. “One could argue it’s not showing up in their numbers. Of course not. That’s because these are leading indicators. It will appear in the leading indicators before it appears in GDP.”

The Conference Board’s Leading Economic Index for China increased by 1.1% in August. It rose by the same amount in July.

A Chinese economy in recovery comes as the U.S. corporate world faces troubles of its own, adds Bernstein.

“Profits have been decelerating now all through 2019, and we actually expect that to continue. I think the risk right now is that first half of 2020 we actually see a full-blown profits recession where earnings growth for the S&P turns negative on a year-to-year basis,” he said.

To hedge against an earnings slowdown or recession, Bernstein is putting money to work in traditional defensive sectors such as staples, health care, utilities and real estate. The utilities and real estate sectors are two of the best performers this year.


Company: cnbc, Activity: cnbc, Date: 2019-10-08  Authors: keris lahiff
Keywords: news, cnbc, companies, makes, indicators, bernstein, investor, leading, economy, uncertainty, grips, work, utilities, sectors, wall, trade, contrarian, chinese, signs, street


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Kroger, Walgreens to stop selling e-cigarettes, amid backlash and regulatory uncertainty

Critics of the product have argued that flavored e-cigarettes made by companies like Juul are designed to appeal to teens directly. With usage rising to a level the FDA has called an “epidemic” and heightened scrutiny, the Trump administration is readying a federal ban on flavored e-cigarettes. Michigan, San Francisco, and Boulder, Colorado, have banned flavored e-cigarettes. Walmart said in September it will stop selling e-cigarettes in its Walmart and Sam’s Clubs location, citing “regulatory c


Critics of the product have argued that flavored e-cigarettes made by companies like Juul are designed to appeal to teens directly. With usage rising to a level the FDA has called an “epidemic” and heightened scrutiny, the Trump administration is readying a federal ban on flavored e-cigarettes. Michigan, San Francisco, and Boulder, Colorado, have banned flavored e-cigarettes. Walmart said in September it will stop selling e-cigarettes in its Walmart and Sam’s Clubs location, citing “regulatory c
Kroger, Walgreens to stop selling e-cigarettes, amid backlash and regulatory uncertainty Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-07  Authors: lauren hirsch angelica lavito, lauren hirsch, angelica lavito, in angelicalavito
Keywords: news, cnbc, companies, states, sale, regulatory, uncertainty, kroger, backlash, teens, stop, tobacco, walgreens, selling, ecigarettes, amid, flavored, walmart


Kroger, Walgreens to stop selling e-cigarettes, amid backlash and regulatory uncertainty

Kroger and Walgreens are joining Walmart and other retailers in discontinuing the sale of electronic cigarettes.

Kroger, which also owns Harris Teeter, Ralphs, Fred Meyer, and other store brands, said it is discontinuing the sale of the product due “to the mounting questions and increasingly-complex regulatory environment.”

Walgreens said it made the decision “as the CDC, FDA and other health officials continue to examine the issue.” A spokesperson for the grocer added that the decision is “reflective of developing regulations in a growing number of states and municipalities.”

E-cigarettes have come under regulatory and public scrutiny as a mysterious, deadly vaping illness continues to claim lives. The Centers for Disease Control and Prevention has identified at least 18 confirmed deaths and 1,080 probable cases across 48 states and the U.S. Virgin Islands as of last Tuesday. Most patients identified vaped THC, the active ingredient in marijuana, according to the CDC. Seventeen percent said they exclusively used nicotine.

E-cigarettes have exploded in popularity over the past few years, particularly among teens. Critics of the product have argued that flavored e-cigarettes made by companies like Juul are designed to appeal to teens directly.

With usage rising to a level the FDA has called an “epidemic” and heightened scrutiny, the Trump administration is readying a federal ban on flavored e-cigarettes. Michigan, San Francisco, and Boulder, Colorado, have banned flavored e-cigarettes. Michael Bloomberg, the billionaire and former New York mayor, pledged $160 million to help enact similar restrictions around the country.

Walmart said in September it will stop selling e-cigarettes in its Walmart and Sam’s Clubs location, citing “regulatory complexity.” Rite Aid in April said it would stop selling e-cigarettes in all stores.

Retailers have been increasingly taking action to regulate the sale of controversial products before federal regulation has been enacted.

Walmart, Walgreens and Rite Aid earlier this year announced plans to raise the minimum age to buy tobacco to 21, after a dozen states had already done so through legislation.

Officials at Kroger and Walgreens confirmed both companies will continue to sell tobacco products in their stores.


Company: cnbc, Activity: cnbc, Date: 2019-10-07  Authors: lauren hirsch angelica lavito, lauren hirsch, angelica lavito, in angelicalavito
Keywords: news, cnbc, companies, states, sale, regulatory, uncertainty, kroger, backlash, teens, stop, tobacco, walgreens, selling, ecigarettes, amid, flavored, walmart


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Loretta Mester says consumers are holding up the economy, even as trade issues weigh it down

It’s trade policy, not Fed policy, that’s slowing economic growth, Loretta Mester, president and CEO of the Federal Reserve Bank of Cleveland, told CNBC on Friday. “Global growth is slowing, trade policy has created uncertainty and tariffs have an impact as well,” she said on Closing Bell. “Those factors really account for some of the slowdown we’ve seen abroad and into the manufacturing sector in the U.S. and also the export side of the U.S. Consumers, however, continue to maintain the economy’


It’s trade policy, not Fed policy, that’s slowing economic growth, Loretta Mester, president and CEO of the Federal Reserve Bank of Cleveland, told CNBC on Friday. “Global growth is slowing, trade policy has created uncertainty and tariffs have an impact as well,” she said on Closing Bell. “Those factors really account for some of the slowdown we’ve seen abroad and into the manufacturing sector in the U.S. and also the export side of the U.S. Consumers, however, continue to maintain the economy’
Loretta Mester says consumers are holding up the economy, even as trade issues weigh it down Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-04  Authors: al lewis
Keywords: news, cnbc, companies, thats, loretta, issues, holding, trade, unemployment, tariffs, slowing, weigh, mester, growth, weve, economy, consumers, policy, told, uncertainty


Loretta Mester says consumers are holding up the economy, even as trade issues weigh it down

It’s trade policy, not Fed policy, that’s slowing economic growth, Loretta Mester, president and CEO of the Federal Reserve Bank of Cleveland, told CNBC on Friday.

“Global growth is slowing, trade policy has created uncertainty and tariffs have an impact as well,” she said on Closing Bell. “Those factors really account for some of the slowdown we’ve seen abroad and into the manufacturing sector in the U.S. and also the export side of the U.S. economy.”

Consumers, however, continue to maintain the economy’s strength against slowing pressures, as evidenced by Friday’s jobs report showing the unemployment rate at 3.5%.


Company: cnbc, Activity: cnbc, Date: 2019-10-04  Authors: al lewis
Keywords: news, cnbc, companies, thats, loretta, issues, holding, trade, unemployment, tariffs, slowing, weigh, mester, growth, weve, economy, consumers, policy, told, uncertainty


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Retail trade group sees holiday sales rising 3.8% to 4.2% this year, citing ‘uncertainty over trade’

Holiday retail sales in November and December — excluding automobiles, gasoline and restaurants — are expected to increase between 3.8% and 4.2% this year, reaching between $727.9 billion and $730.7 billion, the National Retail Federation said on Thursday morning. The retail trade group cited “uncertainty over trade” as being a potential drag on the season this year, as the U.S. and China are set to resume trade talks later this month. NRF’s sales range sits below some other forecasts from reta


Holiday retail sales in November and December — excluding automobiles, gasoline and restaurants — are expected to increase between 3.8% and 4.2% this year, reaching between $727.9 billion and $730.7 billion, the National Retail Federation said on Thursday morning. The retail trade group cited “uncertainty over trade” as being a potential drag on the season this year, as the U.S. and China are set to resume trade talks later this month. NRF’s sales range sits below some other forecasts from reta
Retail trade group sees holiday sales rising 3.8% to 4.2% this year, citing ‘uncertainty over trade’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-03  Authors: lauren thomas
Keywords: news, cnbc, companies, citing, rising, sees, sales, holiday, billion, uncertainty, group, retailers, trade, consumer, retail, consumers, tariffs


Retail trade group sees holiday sales rising 3.8% to 4.2% this year, citing 'uncertainty over trade'

Holiday retail sales in November and December — excluding automobiles, gasoline and restaurants — are expected to increase between 3.8% and 4.2% this year, reaching between $727.9 billion and $730.7 billion, the National Retail Federation said on Thursday morning.

The retail trade group cited “uncertainty over trade” as being a potential drag on the season this year, as the U.S. and China are set to resume trade talks later this month. NRF’s sales range sits below some other forecasts from retail industry consultants, which are calling for growth of upwards of 5%.

The group said holiday retail sales have increased an average of 3.7% over the past five years.

It said it’s expecting online and other non-store sales in 2019, which are included in its total forecast, to climb between 11% and 14%, amounting to between $162.6 billion and $166.9 billion.

“There has clearly been a slowdown brought on by considerable uncertainty around issues including trade, interest rates, global risk factors and political rhetoric,” NRF CEO Matt Shay said in a statement. “Consumers are in good financial shape and retailers expect a strong holiday season. However, confidence could be eroded by continued deterioration of these and other variables.”

In 2018, according to NRF, holiday sales climbed just 2.1%, missing expected growth of between 4.3% and 4.8%. A rocky stock market was called out for weighing on consumer spending, particularly among wealthier shoppers.

NRF has, meanwhile, been a loud voice for retailers arguing against additional tariffs taking effect. Shay said last month: “This trade war has gone on far too long, and the harmful consequences for American businesses and consumers continue to grow.”

The group expects that tariffs will lead to higher consumer prices, which ultimately hurt consumer spending.

NRF’s chief economist Jack Kleinhenz said Thursday: “There are probably very few precedents for this uncertain macroeconomic environment. … There are many moving parts and lots of distractions that make predictions difficult.”

NRF said a September survey found 79% of consumers were concerned about tariffs leading to price hikes and impacting their shopping.

NRF is also calling for retailers to hire between 530,000 and 590,000 seasonal workers this year, compared with 554,000 in 2018. Macy’s on Thursday announced it plans to hire 80,000 temporary workers for the holidays, in line with its goals in 2018.

This is a developing story. Please check back for updates.


Company: cnbc, Activity: cnbc, Date: 2019-10-03  Authors: lauren thomas
Keywords: news, cnbc, companies, citing, rising, sees, sales, holiday, billion, uncertainty, group, retailers, trade, consumer, retail, consumers, tariffs


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