Dollar recovers as safe-haven flows help

A bank employee counts U.S. currency and Chinese currency notes at a bank in Nantong, Jiangsu Province of China. The greenback is viewed as safe-haven due to its standing as the world’s reserve currency. The dollar index, which measures the U.S. currency against six major currencies, was up 0.6%. Adam Cole, a currency analyst at RBC Capital Markets, said the immediate reaction to sell the dollar was questionable. The euro, which has been dogged by worries about the dismal state of the euro zone


A bank employee counts U.S. currency and Chinese currency notes at a bank in Nantong, Jiangsu Province of China. The greenback is viewed as safe-haven due to its standing as the world’s reserve currency. The dollar index, which measures the U.S. currency against six major currencies, was up 0.6%. Adam Cole, a currency analyst at RBC Capital Markets, said the immediate reaction to sell the dollar was questionable. The euro, which has been dogged by worries about the dismal state of the euro zone
Dollar recovers as safe-haven flows help Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-24
Keywords: news, cnbc, companies, political, general, trump, help, safehaven, worries, trade, wednesdaythe, flows, sell, currency, recovers, president, dollar


Dollar recovers as safe-haven flows help

A bank employee counts U.S. currency and Chinese currency notes at a bank in Nantong, Jiangsu Province of China.

The dollar rebounded on Wednesday as investors were drawn to its safe-haven appeal a day after news of the launch of a formal impeachment inquiry against U.S. President Donald Trump drove a sharp move lower in risky assets.

Increased political uncertainty and lingering worries about the state of the trade talks between Washington and Beijing at a time when global economic growth is slowing worked in favor of the U.S. currency on Wednesday.

The greenback is viewed as safe-haven due to its standing as the world’s reserve currency.

“I think that overall the dollar’s safe haven status is understood,” said Juan Perez, senior currency trader at Tempus Inc in Washington.

The dollar index, which measures the U.S. currency against six major currencies, was up 0.6%. On Tuesday, the index had slipped 0.3% to finish the session at 98.337.

Adam Cole, a currency analyst at RBC Capital Markets, said the immediate reaction to sell the dollar was questionable.

“For a couple of reasons it’s not a sell risk or sell dollar story,” he said, pointing to the very small chance that Trump would be impeached, and his view that if the president left office it would not necessarily be positive for risky assets.

Trump asked Ukraine’s president in a July phone call to investigate whether a political rival, former Vice President Joe Biden, had shut down an investigation into a gas company that employed his son, according to a summary of the call released by the Trump administration on Wednesday.

The dollar was also benefiting from a sharp pull pack for the British pound amid worries that Brexit and general election related risks showed no signs of going away soon.

Meanwhile, Trump’s rhetoric on China turned harsh on Tuesday as he criticized Beijing’s trade practices during a speech at the United Nations General Assembly, feeding worries that the resolution to U.S.-China trade war remains elusive.

“There are political battles brewing on both sides of the Atlantic and with China and the U.S. not having the friendliest of tones during addresses at the United Nations, I feel like we are back at deep uncertainty,” Tempus’ Perez said.

“With little real economic growth to speak of globally, we see why the buck is stubbornly strong to end the third quarter,” he said.

The euro, which has been dogged by worries about the dismal state of the euro zone economy, shed 0.5% on Wednesday.

The pound fell about 1% on Wednesday against the dollar, ceding gains made the previous day after the Supreme Court’s ruling against Prime Minister Boris Johnson, as investors priced many more months of Brexit and general election risk.


Company: cnbc, Activity: cnbc, Date: 2019-09-24
Keywords: news, cnbc, companies, political, general, trump, help, safehaven, worries, trade, wednesdaythe, flows, sell, currency, recovers, president, dollar


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Dow futures are stable in overnight trading after Wednesday’s big rout

The little changed trading follows the Dow Jones Industrial Average’s worst day of the year on Wednesday amid a recession signal from the bond market. Dow futures opened down about 32 points Wednesday evening, but then climbed back to about little changed. The stock market took a huge hit in the previous session with the Dow plunging 800 points in its fourth-largest point drop ever to a two-month low. Growth of China’s industrial output slowed to 4.8% in July from a year earlier, the weakest gro


The little changed trading follows the Dow Jones Industrial Average’s worst day of the year on Wednesday amid a recession signal from the bond market. Dow futures opened down about 32 points Wednesday evening, but then climbed back to about little changed. The stock market took a huge hit in the previous session with the Dow plunging 800 points in its fourth-largest point drop ever to a two-month low. Growth of China’s industrial output slowed to 4.8% in July from a year earlier, the weakest gro
Dow futures are stable in overnight trading after Wednesday’s big rout Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-14  Authors: yun li
Keywords: news, cnbc, companies, trading, dow, big, trade, growth, points, yield, worst, futures, rout, negative, stable, wednesdaythe, stock, trump, overnight, wednesdays


Dow futures are stable in overnight trading after Wednesday's big rout

Stock futures stabilized after opening the overnight session lower. The little changed trading follows the Dow Jones Industrial Average’s worst day of the year on Wednesday amid a recession signal from the bond market.

Dow futures opened down about 32 points Wednesday evening, but then climbed back to about little changed. The stock market took a huge hit in the previous session with the Dow plunging 800 points in its fourth-largest point drop ever to a two-month low. The Dow’s 3% drop was the worst this year. The S&P 500 also fell nearly 3%.

The massive sell-off was triggered by a bond market phenomenon on Wednesday where the yield on the benchmark 10-year Treasury note briefly broke below the 2-year rate. The inversion of this key part of the yield curve has been a reliable indicator of economic recessions. As of Wednesday evening, the curve was no longer inverted.

“The 2-10 inversion is sending a massively negative signal that stocks are having a difficult time ignoring,” Adam Crisafulli, a J.P. Morgan managing director, said in a note on Wednesday.

The weak economic data around the world also fueled concerns that the global slowdown could tip the U.S. economy into a recession. Growth of China’s industrial output slowed to 4.8% in July from a year earlier, the weakest growth in 17 years. Germany also saw a negative GDP print, while the growth in euro zone also slowed at a faster pace than expected.

Investors remained on edge about the trade tensions between the U.S. and China. President Donald Trump in a tweet after the bell Wednesday linked the trade battle to the increasingly violent protests in Hong Kong, further complicating the trade issue. But he also proposed a personal meeting between him and Chinese President Xi.

This week, Trump decided to delay tariffs on certain Chinese goods while outright removing some items from the tariff list, a move to avoid any negative impact on the holiday shopping season. The announcement sent the Dow rallying more than 300 points on Tuesday. Those gains were lost in the big sell-off Wednesday.

The deferral “helps China more than us, but will be reciprocated,” Trump said Wednesday.


Company: cnbc, Activity: cnbc, Date: 2019-08-14  Authors: yun li
Keywords: news, cnbc, companies, trading, dow, big, trade, growth, points, yield, worst, futures, rout, negative, stable, wednesdaythe, stock, trump, overnight, wednesdays


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The stock market’s unusual pattern this week has historically been a big sell signal

The stock market has done something so unusual this week that it has only happened 19 times in the past 30 years, and the strange pattern could be an ominous sign if history is any guide. The S&P 500 fell 1.2% on Monday, followed by a 1.5% rebound in the next session, and Wednesday’s brutal sell-off saw the benchmark losing 2.9% amid the recession signal from the bond market. The rally only lasted for hours as traders got hit by an odd bond market phenomenon on Wednesday that flashed a big reces


The stock market has done something so unusual this week that it has only happened 19 times in the past 30 years, and the strange pattern could be an ominous sign if history is any guide. The S&P 500 fell 1.2% on Monday, followed by a 1.5% rebound in the next session, and Wednesday’s brutal sell-off saw the benchmark losing 2.9% amid the recession signal from the bond market. The rally only lasted for hours as traders got hit by an odd bond market phenomenon on Wednesday that flashed a big reces
The stock market’s unusual pattern this week has historically been a big sell signal Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-14  Authors: yun li
Keywords: news, cnbc, companies, pattern, week, stock, market, wednesdaythe, wall, signal, markets, big, recession, strategist, unusual, sell, selloff, phenomenon, historically, sp


The stock market's unusual pattern this week has historically been a big sell signal

The stock market has done something so unusual this week that it has only happened 19 times in the past 30 years, and the strange pattern could be an ominous sign if history is any guide.

The S&P 500 fell 1.2% on Monday, followed by a 1.5% rebound in the next session, and Wednesday’s brutal sell-off saw the benchmark losing 2.9% amid the recession signal from the bond market. This consecutive whiplash for the S&P 500 — down 1%, up 1% and down 2% — is a rare occurrence in market history and going back to 1928, the index has lost 2.5% on average in the six months after the phenomenon occurred, according to Bespoke Investment Group.

Source: Bespoke Investment Group

For stocks, things could change on a dime these days. Investors, who started Tuesday on edge about the geopolitical uncertainties in Hong Kong and Argentina, were surprised by President Donald Trump’s decision to delay some of the China tariffs, which sent the market soaring instantly.

The rally only lasted for hours as traders got hit by an odd bond market phenomenon on Wednesday that flashed a big recession signal, causing the Dow to plunge a whopping 800 points in its worst day of the year. The Cboe Volatility Index, aka Wall Street’s fear gauge, popped to above 22 on Wednesday.

The market’s wild swings this week caught eyes of some Wall Street strategists, who see the back-and-forths as a troublesome sign.

We “cannot help noticing that the way in which the market is being repeatedly yanked into alternating bouts of optimism and pessimism looks much like the market’s movements when the focus was on a possible resolution to the subprime loan crisis,” Nomura macro and quant strategist Masanari Takada said in a note Wednesday.

The strategist doubled down on his call for a “Lehman-like” sell-off as soon as late August. His call was based on on data showing hedge funds and other players fleeing the market.


Company: cnbc, Activity: cnbc, Date: 2019-08-14  Authors: yun li
Keywords: news, cnbc, companies, pattern, week, stock, market, wednesdaythe, wall, signal, markets, big, recession, strategist, unusual, sell, selloff, phenomenon, historically, sp


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Billionaire James Dyson reportedly buys $54 million penthouse in Singapore

The Wallich Residence is located within the Tanjong Pagar Centre (second from right), Singapore’s tallest building. British technology firm founder James Dyson and his wife have bought a luxury penthouse in Singapore for a record 73.8 million Singapore dollars ($54.2 million), according to The Business Times newspaper on Wednesday. The privately held company Dyson founded is known for selling $400 hair dryers and sleekly designed vacuum cleaners. The Business Times did not specify its sources, b


The Wallich Residence is located within the Tanjong Pagar Centre (second from right), Singapore’s tallest building. British technology firm founder James Dyson and his wife have bought a luxury penthouse in Singapore for a record 73.8 million Singapore dollars ($54.2 million), according to The Business Times newspaper on Wednesday. The privately held company Dyson founded is known for selling $400 hair dryers and sleekly designed vacuum cleaners. The Business Times did not specify its sources, b
Billionaire James Dyson reportedly buys $54 million penthouse in Singapore Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-10  Authors: huileng tan
Keywords: news, cnbc, companies, 54, james, wife, reportedly, million, singapore, dyson, wednesdaythe, buys, newspaper, business, penthouse, billionaire, records, times, wire


Billionaire James Dyson reportedly buys $54 million penthouse in Singapore

The Wallich Residence is located within the Tanjong Pagar Centre (second from right), Singapore’s tallest building.

British technology firm founder James Dyson and his wife have bought a luxury penthouse in Singapore for a record 73.8 million Singapore dollars ($54.2 million), according to The Business Times newspaper on Wednesday.

The privately held company Dyson founded is known for selling $400 hair dryers and sleekly designed vacuum cleaners.

The Business Times did not specify its sources, but local newspaper The Straits Times said it had reviewed documents revealing the purchase.

Official title records seen by Reuters show billionaire Dyson and his wife became tenants of the 99-year leasehold property on June 20. The records did not state the price paid, the wire said.


Company: cnbc, Activity: cnbc, Date: 2019-07-10  Authors: huileng tan
Keywords: news, cnbc, companies, 54, james, wife, reportedly, million, singapore, dyson, wednesdaythe, buys, newspaper, business, penthouse, billionaire, records, times, wire


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Top Apple analyst: The surge in services is not enough because 75% of business likely to decline

Big questions still remain about the fate of Apple’s hardware business, particularly the iPhone, top Wall Street analyst Toni Sacconaghi told CNBC on Wednesday. The tech giant’s stock is surging after it reported earnings after the bell Tuesday that beat expectations. “Expectations were low and they managed to modestly beat those but in absolute terms, the business is not particularly healthy,” the Bernstein senior technology research analyst said on “Fast Money: Halftime Report. ” “We had iPhon


Big questions still remain about the fate of Apple’s hardware business, particularly the iPhone, top Wall Street analyst Toni Sacconaghi told CNBC on Wednesday. The tech giant’s stock is surging after it reported earnings after the bell Tuesday that beat expectations. “Expectations were low and they managed to modestly beat those but in absolute terms, the business is not particularly healthy,” the Bernstein senior technology research analyst said on “Fast Money: Halftime Report. ” “We had iPhon
Top Apple analyst: The surge in services is not enough because 75% of business likely to decline Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-01  Authors: michelle fox
Keywords: news, cnbc, companies, business, surge, analyst, told, 75, apple, services, likely, iphone, wednesdaythe, toni, wall, sacconaghi, beat, particularly, decline


Top Apple analyst: The surge in services is not enough because 75% of business likely to decline

Big questions still remain about the fate of Apple’s hardware business, particularly the iPhone, top Wall Street analyst Toni Sacconaghi told CNBC on Wednesday.

The tech giant’s stock is surging after it reported earnings after the bell Tuesday that beat expectations.

“Expectations were low and they managed to modestly beat those but in absolute terms, the business is not particularly healthy,” the Bernstein senior technology research analyst said on “Fast Money: Halftime Report. ”

“We had iPhone revenue down 17% despite the fact that Apple had to cut prices to simulate demand in the quarter,” added Sacconaghi, a five-star-rated analyst on TipRanks, an analyst review service.


Company: cnbc, Activity: cnbc, Date: 2019-05-01  Authors: michelle fox
Keywords: news, cnbc, companies, business, surge, analyst, told, 75, apple, services, likely, iphone, wednesdaythe, toni, wall, sacconaghi, beat, particularly, decline


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Cramer Remix: Why I still have faith in Boeing

Financial news have been “correctly” dominated by the Federal Aviation Administration’s order that Boeing 737 Max jets be grounded in the United States after two of the planes were involved in fatal crashes in less than five months, CNBC’s Jim Cramer said Wednesday. The “Mad Money” host addressed questions he has been asked about how the event could affect the stock. But Cramer isn’t giving up on the company. “I have total confidence in the Boeing company to get to the bottom of this and to rest


Financial news have been “correctly” dominated by the Federal Aviation Administration’s order that Boeing 737 Max jets be grounded in the United States after two of the planes were involved in fatal crashes in less than five months, CNBC’s Jim Cramer said Wednesday. The “Mad Money” host addressed questions he has been asked about how the event could affect the stock. But Cramer isn’t giving up on the company. “I have total confidence in the Boeing company to get to the bottom of this and to rest
Cramer Remix: Why I still have faith in Boeing Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-13  Authors: tyler clifford, scott olson, getty images, daniel acker, bloomberg, brendan mcdermid, erin scott, steve marcus
Keywords: news, cnbc, companies, trust, remix, stock, faith, cramer, thats, united, boeing, total, company, woes, wednesdaythe


Cramer Remix: Why I still have faith in Boeing

Financial news have been “correctly” dominated by the Federal Aviation Administration’s order that Boeing 737 Max jets be grounded in the United States after two of the planes were involved in fatal crashes in less than five months, CNBC’s Jim Cramer said Wednesday.

The “Mad Money” host addressed questions he has been asked about how the event could affect the stock. Shares of the airplane manufacturer saw a 0.46 percent bump during the session, but he said it’s “too soon” to assess the impact.

But Cramer isn’t giving up on the company.

“I have total confidence in the Boeing company to get to the bottom of this and to restore any trust lost in the company,” he said. “If that’s enough, you should buy it.”

Hear Cramer react to Boeing’s woes here


Company: cnbc, Activity: cnbc, Date: 2019-03-13  Authors: tyler clifford, scott olson, getty images, daniel acker, bloomberg, brendan mcdermid, erin scott, steve marcus
Keywords: news, cnbc, companies, trust, remix, stock, faith, cramer, thats, united, boeing, total, company, woes, wednesdaythe


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Even if North Korea and the US don’t win from the summit, experts say Trump and Kim will

U.S. President Donald Trump and North Korean leader Kim Jong Un will both gain politically from their meeting in Vietnam this week — even if there’s limited progress from what should be viewed as a “continuity summit,” a risk consultant told CNBC on Wednesday. “The international community will stand back and say not much has happened, but if you look at domestic agendas —both for Kim and for President Trump — actually a limited amount of progress would be success,” said Richard Fenning, CEO of C


U.S. President Donald Trump and North Korean leader Kim Jong Un will both gain politically from their meeting in Vietnam this week — even if there’s limited progress from what should be viewed as a “continuity summit,” a risk consultant told CNBC on Wednesday. “The international community will stand back and say not much has happened, but if you look at domestic agendas —both for Kim and for President Trump — actually a limited amount of progress would be success,” said Richard Fenning, CEO of C
Even if North Korea and the US don’t win from the summit, experts say Trump and Kim will Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-27  Authors: huileng tan, eunice yoon
Keywords: news, cnbc, companies, say, progress, wednesdaythe, korean, trump, north, korea, president, meeting, week, experts, kim, summit, dont, limited, win


Even if North Korea and the US don't win from the summit, experts say Trump and Kim will

U.S. President Donald Trump and North Korean leader Kim Jong Un will both gain politically from their meeting in Vietnam this week — even if there’s limited progress from what should be viewed as a “continuity summit,” a risk consultant told CNBC on Wednesday.

“The international community will stand back and say not much has happened, but if you look at domestic agendas —both for Kim and for President Trump — actually a limited amount of progress would be success,” said Richard Fenning, CEO of Control Risks, a consultancy.

Following their historic meeting in Singapore last June, key issues remain at the second summit between Trump and Kim: The denuclearization of the Korean Peninsula, as well as sanctions on Pyongyang which have taken a toll on the North’s economy.


Company: cnbc, Activity: cnbc, Date: 2019-02-27  Authors: huileng tan, eunice yoon
Keywords: news, cnbc, companies, say, progress, wednesdaythe, korean, trump, north, korea, president, meeting, week, experts, kim, summit, dont, limited, win


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Germany’s top central banker warns against bringing back stimulus in Europe

The European Central Bank (ECB) shouldn’t rush into implementing massive bond-purchase programs in the future, the head of the German central bank warned in an interview with CNBC Wednesday. The 19-country region launched a quantitative easing package — a massive stimulus program — back in 2015 to prop up the moribund economy following the sovereign debt crisis. The active bond-buying ended in December last year, but throughout its existence there was running opposition, saying it was dragging o


The European Central Bank (ECB) shouldn’t rush into implementing massive bond-purchase programs in the future, the head of the German central bank warned in an interview with CNBC Wednesday. The 19-country region launched a quantitative easing package — a massive stimulus program — back in 2015 to prop up the moribund economy following the sovereign debt crisis. The active bond-buying ended in December last year, but throughout its existence there was running opposition, saying it was dragging o
Germany’s top central banker warns against bringing back stimulus in Europe Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-27  Authors: silvia amaro, ints kalnins
Keywords: news, cnbc, companies, wednesdaythe, europe, banker, bringing, debt, massive, weidmann, central, stimulus, fiscal, germanys, bank, warns, wednesdayespecially, sovereign, monetary


Germany's top central banker warns against bringing back stimulus in Europe

The European Central Bank (ECB) shouldn’t rush into implementing massive bond-purchase programs in the future, the head of the German central bank warned in an interview with CNBC Wednesday.

The 19-country region launched a quantitative easing package — a massive stimulus program — back in 2015 to prop up the moribund economy following the sovereign debt crisis. The active bond-buying ended in December last year, but throughout its existence there was running opposition, saying it was dragging on for too long.

“I have always argued that for me, the purchase of sovereign debt is a very special instrument,” Jens Weidmann, the president of the Bundesbank, told CNBC’s Julianna Tatelbaum Wednesday.

“Especially in the context of a monetary union, where you have one monetary policy but 19 independent fiscal policies and, the danger of communitizing fiscal debt is very different from that of the U.S. or Japan,” he added.


Company: cnbc, Activity: cnbc, Date: 2019-02-27  Authors: silvia amaro, ints kalnins
Keywords: news, cnbc, companies, wednesdaythe, europe, banker, bringing, debt, massive, weidmann, central, stimulus, fiscal, germanys, bank, warns, wednesdayespecially, sovereign, monetary


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New York Times publisher rips Trump over ‘enemy of the people’ accusation

President Donald Trump is encouraging “threats and violence against journalists at home and abroad,” the publisher of The New York Times, A.G. Sulzberger, said in a statement Wednesday. The statement was released by the newspaper shortly after the president published a post on Twitter referring to the Times as the “enemy of the people.” Sulzberger’s comments and Trump’s tweet come days after Egyptian officials detained and then expelled a noted New York Times reporter in the country. The preside


President Donald Trump is encouraging “threats and violence against journalists at home and abroad,” the publisher of The New York Times, A.G. Sulzberger, said in a statement Wednesday. The statement was released by the newspaper shortly after the president published a post on Twitter referring to the Times as the “enemy of the people.” Sulzberger’s comments and Trump’s tweet come days after Egyptian officials detained and then expelled a noted New York Times reporter in the country. The preside
New York Times publisher rips Trump over ‘enemy of the people’ accusation Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-20  Authors: john w schoen, tucker higgins
Keywords: news, cnbc, companies, wrote, york, publisher, trump, paper, accusation, wednesdaythe, times, president, statement, wielded, rips, enemy, sulzberger


New York Times publisher rips Trump over 'enemy of the people' accusation

President Donald Trump is encouraging “threats and violence against journalists at home and abroad,” the publisher of The New York Times, A.G. Sulzberger, said in a statement Wednesday.

The statement was released by the newspaper shortly after the president published a post on Twitter referring to the Times as the “enemy of the people.”

“The phrase ‘enemy of the people’ is not just false, it’s dangerous,” wrote Sulzberger, who was tapped to lead the paper last year and whose family has controlled the paper since the 19th century. “It has an ugly history of being wielded by dictators and tyrants who sought to control public information. And it is particularly reckless coming from someone whose office gives him broad powers to fight or imprison the nation’s enemies.”

Sulzberger’s comments and Trump’s tweet come days after Egyptian officials detained and then expelled a noted New York Times reporter in the country.

The president has long referred to the media as the enemy of the people but has largely refrained from designating particular outlets as such. He has often declared the Times, as well as CNN, NBC News, and other companies “fake news.” He said last year that he would take a “strong look at our country’s libel laws.”


Company: cnbc, Activity: cnbc, Date: 2019-02-20  Authors: john w schoen, tucker higgins
Keywords: news, cnbc, companies, wrote, york, publisher, trump, paper, accusation, wednesdaythe, times, president, statement, wielded, rips, enemy, sulzberger


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GM doesn’t expect to make money off electric cars until next decade

General Motors does not expect its electric vehicles to turn a profit for at least a few more years, CEO Mary Barra told investors Wednesday. The largest U.S. automaker repeated its commitment Wednesday to make its entire vehicle lineup “all-electric,” but provided investors with few details about those plans on a conference call after GM reported fourth-quarter earnings that beat expectations. However, GM is clear that its electric vehicles won’t make money until “early next decade,” Barra said


General Motors does not expect its electric vehicles to turn a profit for at least a few more years, CEO Mary Barra told investors Wednesday. The largest U.S. automaker repeated its commitment Wednesday to make its entire vehicle lineup “all-electric,” but provided investors with few details about those plans on a conference call after GM reported fourth-quarter earnings that beat expectations. However, GM is clear that its electric vehicles won’t make money until “early next decade,” Barra said
GM doesn’t expect to make money off electric cars until next decade Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-06  Authors: robert ferris, bill pugliano, getty images
Keywords: news, cnbc, companies, expect, vehicles, investors, barra, money, decade, profit, cars, electric, wednesdaythe, wont, gm, vehicle, doesnt


GM doesn't expect to make money off electric cars until next decade

General Motors does not expect its electric vehicles to turn a profit for at least a few more years, CEO Mary Barra told investors Wednesday.

The largest U.S. automaker repeated its commitment Wednesday to make its entire vehicle lineup “all-electric,” but provided investors with few details about those plans on a conference call after GM reported fourth-quarter earnings that beat expectations.

However, GM is clear that its electric vehicles won’t make money until “early next decade,” Barra said.

Turning a profit from electric vehicles has long been considered a major challenge for automakers, which are pouring money into electric vehicle, EV, technology in the face of fluctuating oil prices, government initiatives to reduce carbon pollution and excitement over Tesla.


Company: cnbc, Activity: cnbc, Date: 2019-02-06  Authors: robert ferris, bill pugliano, getty images
Keywords: news, cnbc, companies, expect, vehicles, investors, barra, money, decade, profit, cars, electric, wednesdaythe, wont, gm, vehicle, doesnt


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