Iran tanker seizure shows oil price has become a ‘broken barometer’ for Mideast tension

The U.K. stopped an Iranian tanker several weeks ago that it says was violating European law and allegedly carrying crude to Syria. A Gibraltar court Friday allowed the detention of the Iranian tanker to continue, even though Iran says the ship was not heading to Syria. Last Tuesday, oil prices had moved down dramatically on comments from Secretary of State Mike Pompeo that Iran was willing to talk about its missile program. Minutes later, the Iranians said ‘no we’re not’ and oil prices still di


The U.K. stopped an Iranian tanker several weeks ago that it says was violating European law and allegedly carrying crude to Syria. A Gibraltar court Friday allowed the detention of the Iranian tanker to continue, even though Iran says the ship was not heading to Syria. Last Tuesday, oil prices had moved down dramatically on comments from Secretary of State Mike Pompeo that Iran was willing to talk about its missile program. Minutes later, the Iranians said ‘no we’re not’ and oil prices still di
Iran tanker seizure shows oil price has become a ‘broken barometer’ for Mideast tension Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-21  Authors: patti domm
Keywords: news, cnbc, companies, higher, war, iran, broken, prices, barometer, seizure, iranian, price, saudi, trump, tension, mideast, shows, week, tanker, oil


Iran tanker seizure shows oil price has become a 'broken barometer' for Mideast tension

A picture taken on July 21, 2019, shows Iranian Revolutionary Guards patrolling around the British-flagged tanker Stena Impero as it’s anchored off the Iranian port city of Bandar Abbas.

Last week shows that oil prices are not the indicator for Middle East tensions they once were, and worries about global demand and growing U.S. production has changed that dynamic.

One of the energy industry’s greatest concerns has been that a Mideast conflict could disrupt oil traffic in the key Strait of Hormuz, a narrow waterway through which about a fifth of the world’s oil moves.

Yet, after Iran seized a British oil tanker Stena Impero there on Friday, for alleged marine violations, and temporarily stopped a second one, oil prices moved slightly higher, not with the velocity that might have been seen during other periods of tension.

“What I find amazing is oil has become a broken barometer for Mideast conflict. A few years ago, you could almost gauge how serious a security crisis was because of the oil price,” said Helima Croft, head of global commodities strategy at RBC.

The tanker incident comes as tensions between Iran and the West have been rising. The U.K. stopped an Iranian tanker several weeks ago that it says was violating European law and allegedly carrying crude to Syria. A Gibraltar court Friday allowed the detention of the Iranian tanker to continue, even though Iran says the ship was not heading to Syria.

Last Tuesday, oil prices had moved down dramatically on comments from Secretary of State Mike Pompeo that Iran was willing to talk about its missile program. Iran refuted that statement, and oil did not recover the losses.

“We sold off 4.5% when Pompeo suggested that the Iranians were willing to talk about the ballistic missile program. Minutes later, the Iranians said ‘no we’re not’ and oil prices still didn’t recover. Since Tuesday, it’s been nothing but escalation and oil has kind of shrugged it off,” said Croft.

Also last week, the U.S. destroyed a drone it said belonged to Iran, but Iran denied that claim. Iran did say it had seized another smaller ship it said was engaged in smuggling.

“It doesn’t mean the security situation is not terribly fraught. It does not mean that we could end up with an unintended escalation through miscalculation. It just means oil is not a leading indicator of how this crisis is going,” Croft said, adding traders are more attuned now to the trade war than a potential shooting war.

Croft said a big reason why oil traders are not driving oil prices higher is because of the huge increase in U.S. production. The U.S.has now surpassed Russia and Saudi Arabia to become the biggest oil producer. She said oil trading has also changed and the market is more computer-driven with fewer big commodities players trading it.

“The surge in U.S. production to over 12 million barrels a day has created a U.S. fire wall against these risks, or perceived risks to supply,” said John Kilduff, partner with Again Capital. “They can take all the tankers they want. We still haven’t lost any oil yet. There’s a ton of spare capacity, especially in Saudi Arabia.I think that’s what’s holding prices back.”

Kilduff said, however, he does expect oil to rise if these types of incidents continue to happen.The tanker incident follows numerous attacks by Iranian proxies on oil facilities and key infrastructure, such as an airport in Saudi Arabia.

Earlier this month, Iran admitted to shooting down a U.S. drone and the White House prepared to respond militarily. Trump called off the retaliatory response at the last minute.

“One of these incidents is going to be the straw that breaks the camel’s back,” Kilduff said. He noted that the U.S. is once more using a key Saudi airbase and has positioned patriot missile defense systems there.

Oil prices were volatile last week with international bench mark Brent crude futures down 6.4% in its worst weekly performance since December, 2018. West Texas Intermediate futures were down 7.6%, in the worst weekly performance since May. WTI started the day lower Friday, but settled up 0.6% to $55.63 per barrel, after news of the tanker seizure.

Kilduff said oil could head higher after its steep drop, as central banks gear up to provide stimulus to the global economy. The European Central Bank meets Thursday and it is expected to cut rates at that meeting or the next, in September. The Federal Reserve meets on July 30 and 31, and it is widely expected to cut interest rates.

On Monday, Iranian Foreign Minister Mohammad Javad Zarif told NBC News that Iran does not want a war, and that the door to negotiations would be wide open if Trump lifts his sanctions. The Trump administration put sanctions on Iranian oil and other parts of its economy, after the U.S. pulled out of the Joint Comprehensive Plan of Action, or the nuclear agreement made between Iran, the U.S. and five other countries.

The other parties, which include Britain, have been trying to keep Iran in the nuclear agreement. But Iran has moved to enrich more uranium at higher levels, and has said it would continue to take actions that could violate the agreement.

Kilduff said in past major conflicts, oil spiked quickly but briefly and when oil reached its all time, it was not due to a conflict.

“We got to $147 [in 2008] not because of a war but because supply was tight and the economy was in its last phase of booming,” said Kilduff.


Company: cnbc, Activity: cnbc, Date: 2019-07-21  Authors: patti domm
Keywords: news, cnbc, companies, higher, war, iran, broken, prices, barometer, seizure, iranian, price, saudi, trump, tension, mideast, shows, week, tanker, oil


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Amazon threatens to sue major pharmacy player if it prevents PillPack from accessing patient drug data

That comprehensive data comes indirectly from Surescripts, an electronic-prescribing company that’s owned by some of PillPack’s potential competitors, including CVS and Express Scripts. This week, ReMy indicated that it would cease working with PillPack in the coming days, people familiar with the matter said. “PillPack does not have an agreement with Surescripts that in any way covers the use of this important Protected Health Information,” the statement said. PillPack, in response, noted that


That comprehensive data comes indirectly from Surescripts, an electronic-prescribing company that’s owned by some of PillPack’s potential competitors, including CVS and Express Scripts. This week, ReMy indicated that it would cease working with PillPack in the coming days, people familiar with the matter said. “PillPack does not have an agreement with Surescripts that in any way covers the use of this important Protected Health Information,” the statement said. PillPack, in response, noted that
Amazon threatens to sue major pharmacy player if it prevents PillPack from accessing patient drug data Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-19  Authors: christina farr
Keywords: news, cnbc, companies, remy, week, drug, patient, information, data, pharmacy, surescripts, working, sue, prevents, health, pillpack, player, major, company, threatens


Amazon threatens to sue major pharmacy player if it prevents PillPack from accessing patient drug data

PillPack co-founders TJ Parker and Elliot Cohen.

Just over a year after buying online pharmacy PillPack for $753 million, Amazon is engaged in a bitter battle with an incumbent player in the pharmacy industry, which sources tell CNBC is working behind the scenes to prevent the company from accessing important patient data. PillPack’s pharmacy delivery service relies on its access to an accurate list of its patients’ medications, so it can properly inform them about health and safety risks, uncover any duplicate subscriptions and help them keep up with refills. That comprehensive data comes indirectly from Surescripts, an electronic-prescribing company that’s owned by some of PillPack’s potential competitors, including CVS and Express Scripts. According to two people familiar with the matter, PillPack was informed this week that it will soon be cut off from accessing that data via a third-party entity, ReMy Health — a move that could seriously complicate its business. Amazon is considering legal action against Surescripts to halt those efforts, said the people, who asked not to be identified because the deliberations are confidential. One person told CNBC that PillPack has already sent a cease-and-desist letter to Surescripts. It’s the latest in a string of disputes between Amazon and the established pharmacy companies since its purchase of PillPack in June 2018 — a deal that sent shares of pharmacy owners and pharmacy benefit managers tumbling. Last month, CVS filed a lawsuit against a former employee after he told the company he would be taking a job at PillPack. A judge blocked the employee from working for PillPack for 18 months.

Fighting the FTC

Spending on prescriptions in the U.S. is approaching $500 billion a year, and the industry has long been controlled by a handful of large players, who manage pricing and access to medications. Amazon’s jump into the market poses a serious threat to the status quo by giving the e-commerce giant relationships with health insurers and licenses to ship prescriptions to every state except Hawaii. The current imbroglio shows the tangled nature of the pharmacy web, and how hard the incumbents are working to keep control over data and stem a competitive threat. Surescripts manages about 80% of all U.S. prescriptions. It is such a dominant force that in April, the Federal Trade Commission sued the company, alleging “illegal monopolization of e-prescription markets.” Surescripts said last week that the FTC’s complaint “makes significant factual errors” about its business and the market, and it has filed a motion to dismiss the case. PillPack doesn’t contract directly with Surescripts for patient medication information, but goes through ReMy, which compiles the raw data from Surescripts, cleans it up and offers it to clients through an application programming interface. Because PillPack is not contracting with Surescripts, its communication has been with ReMy. This week, ReMy indicated that it would cease working with PillPack in the coming days, people familiar with the matter said. The companies started working together in 2017, the people said. “PillPack is productively working with partners across the healthcare industry to help people throughout the U.S. who can benefit from a better pharmacy experience,” said Jacquelyn Miller, a PillPack spokesperson. “While we’re not surprised when powerful incumbents try to undermine these efforts, we are confident that our collaborative approach to bring customers more choice, more convenience, and improved quality will ultimately prevail.” Surescripts said in a statement it’s committed to privacy and security and that medication history “can reveal a lot about an individual’s health status, including the most sensitive of healthcare conditions.” “PillPack does not have an agreement with Surescripts that in any way covers the use of this important Protected Health Information,” the statement said. Suresripts added that its portfolio does not include “any businesses where we are the source of medication history to retail pharmacies.”

Surescripts said its board, which includes executives from CVS and Cigna, became aware of the issue only after an inquiry with CNBC. PillPack, in response, noted that it has contracts in place to manage protected health information as a licensed pharmacy. “Prescription history is only requested upon consent of the customer, and is held to the same data handling standards as all patient health information handled by PillPack,” Miller said. “Further, PillPack is a covered entity, the same as a physician’s office, and is bound by all healthcare privacy laws.”

‘Makes health care more costly’


Company: cnbc, Activity: cnbc, Date: 2019-07-19  Authors: christina farr
Keywords: news, cnbc, companies, remy, week, drug, patient, information, data, pharmacy, surescripts, working, sue, prevents, health, pillpack, player, major, company, threatens


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Week ahead: Earnings, GDP expected to show sluggish growth as investors await rate cut

Drew Angerer | Getty ImagesSluggish economic and earnings growth will be a theme in markets in the week ahead, as investors await a Fed interest rate cut at the end of the month. More than a quarter of the S&P 500 companies report earnings in the coming week, the second big week of the second quarter reporting season. Slower economyAs earnings growth was muted in the second quarter, so was the pace of economic gains. If growth comes in as expected, it would be the first quarter where growth was


Drew Angerer | Getty ImagesSluggish economic and earnings growth will be a theme in markets in the week ahead, as investors await a Fed interest rate cut at the end of the month. More than a quarter of the S&P 500 companies report earnings in the coming week, the second big week of the second quarter reporting season. Slower economyAs earnings growth was muted in the second quarter, so was the pace of economic gains. If growth comes in as expected, it would be the first quarter where growth was
Week ahead: Earnings, GDP expected to show sluggish growth as investors await rate cut Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-19  Authors: patti domm
Keywords: news, cnbc, companies, await, investors, trade, gdp, market, rate, cut, roth, fed, expected, companies, earnings, growth, sluggish, quarter, week


Week ahead: Earnings, GDP expected to show sluggish growth as investors await rate cut

Traders and financial professionals work at the opening bell on the floor of the New York Stock Exchange (NYSE), January 2, 2019. Drew Angerer | Getty Images

Sluggish economic and earnings growth will be a theme in markets in the week ahead, as investors await a Fed interest rate cut at the end of the month. More than a quarter of the S&P 500 companies report earnings in the coming week, the second big week of the second quarter reporting season. FAANG names, like Alphabet and Amazon, and blue chips from McDonald’s to Boeing and United Technologies are among the more than 130 companies reporting. There is also some key economic data, including Friday’s second quarter GDP, which should show a slowing to 1.8% from the first quarter’s 3.1% pace, according to Refinitiv. On Thursday, durable goods are reported and will include an update on businesses investment. There are also existing home sales Tuesday, new home sales Wednesday and advance economic indicators Thursday. But there will be no Fed speakers, after a parade of central bank officials in the past week, including Fed Chair Jerome Powell. The most impactful comments, however, came Thursday from New York Fed President John Williams, who set off a debate about how much the Fed could cut rates at its July 30-31 meeting — 25 or 50 basis points. Even as the New York Fed later said Williams comments were not about current policy, market pros took heed of his words about how central bankers should “act quickly.”

Fed dominates

Fed officials do not speak publicly in the days ahead of policy meetings, but market pros will find plenty to debate. Fed funds futures were predicting a 43% chance of a 50 basis point cut in July, after shooting as high as 70% Thursday afternoon. “For sure, the Fed is going to dominate for next week. I think we’ll get at least a 25 basis point cut. I’m thinking we’re not going to get 50 basis point cut…The Fed has been burned when it’s been bold,” said Tony Roth, chief investment officer at Wilmington Trust. Roth said he believes the market is already pricing in a quarter-point cut, and he does not see the Fed’s rate cut as much of a longer-term catalyst for stocks. If it trims by a half percentage point, he expects just a short-term pop.

Economists believe the Fed will cut interest rates even though recent data has improved. That’s in part because Powell has stressed the Fed is focused on the global economic slowdown, trade wars and low inflation, and that it will do what it takes to keep the economy expanding. “The only real catalyst that would really help the market would be if there was a trade deal with China,” Roth said. “I think the likelihood of that is less than 10%. We’re very pessimistic on the possibility of a real deal with China prior to the [2020 presidential] election.” So, in the void ahead of the Fed’s meeting, the market will be watching earnings. As earnings rolled out this past week, stocks took a rest from their record-setting streak, as some companies lowered forecasts and most beat earnings and revenue estimates. As of Friday morning, 77% of the roughly 80 companies reporting had beaten earnings estimates, and 65% topped revenue forecasts, according to Refinitiv. Based on actual reports and forecasts, earnings per share for the S&P companies are expected to be up 1% in the second quarter. That is up from expectations that the profit growth would be slightly negative this quarter. “If you look at the numbers, we’re above the averages for top and bottom line beats, but at the same time when you look at revisions, every day we’re getting revisions for third and fourth quarter, and they’re coming down.There’s a real worry of an earnings recession, when you get out into the third and fourth quarter and out to next year,” Roth said. Roth said he’s currently neutral on risk assets, and he sees a slowdown brewing in the smallest U.S. companies that could spread up the food chain. “We do see those fundamental cracks in the economy in small business and the small business labor market, and on top of that you have these big macro risks out there,” such as trade and the upcoming election, Roth said.

Slower economy

As earnings growth was muted in the second quarter, so was the pace of economic gains. If growth comes in as expected, it would be the first quarter where growth was under 2% since the first quarter of 2017. Economists are watching to see how consumer spending fared in the quarter, after a recent pickup and also whether business inventories are declining. “The data we need is not Q2. What’s at risk is the growth and magnitude of the Fed rate cut. I don’t think Q2 is going to have much impact on the Fed’s thinking,” said Marc Chandler, chief market strategist at Bannockburn Global Forex. “It’s really how Q3 is progressing. It seems to me the economy softened in April and May and picked up in June with jobs data, retail sales and manufacturing sector.” Chandler said investors will also be focused on the European Central Bank, which some economists believe could cut its overnight deposit rate to negative 0.5% from negative 0.4% currently when it meets Thursday. Chandler said odds are about 50% for the rate cut, which many also expect in September. “While we’re waiting for the Fed to figure out whether it’s 25 or 50 basis points, and we’re waiting for the ECB to get all its forms sorted out … the emerging markets are pushing ahead,” said Chandler, noting Russia and Turkey could cut rates in the next several days, after similar moves in the past week by South Africa, South Korea and Indonesia. “It just makes the story more global. You’re seeing the trade numbers from China, Japan, Singapore and South Korea weaken. You’re seeing exports form China suffer. Exports from all of Asia are suffering,” he said. “The big surprise for China and Japan has also been on the import side. The declines in their imports is really someone else’s [drop in] exports.”

Rate cuts and currency wars

Dollar strength has been a consequence of the trade war, and Fed action could help turn it around. “If the Fed fails to move, you’re going to end up with an increasingly stronger dollar,” which impacts corporate earnings, Roth said. “The dollar is quite strong and is increasingly going to be a headwind for U.S. companies. It hasn’t appreciated that much in 12 months, but if we see a divergence in monetary policy between the U.S. and the rest of the world, you would see a carry trade develop where people would want to buy assets in the U.S.,” he said. The dollar index was slightly higher on the week, but Wall Street has been focused on President Donald Trump’s negative comments on the currency’s strength. As Trump has criticized the Fed, he also complains that other central banks manipulate their currencies to give them an edge in trade. Trump has said the Fed should already be cutting rates, something it hasn’t done since December 2008. A number of Wall Street strategists have said they now believe it is possible that the U.S. government could intervene to weaken the dollar, but that would be unlikely.

Calendar for the Week Ahead


Company: cnbc, Activity: cnbc, Date: 2019-07-19  Authors: patti domm
Keywords: news, cnbc, companies, await, investors, trade, gdp, market, rate, cut, roth, fed, expected, companies, earnings, growth, sluggish, quarter, week


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NASA is considering this inflatable space habitat for its return to the moon

What to watch in markets for the week aheadMore than a quarter of the S&P 500 companies report earnings in the week ahead, and that could buffet the market as investors await the Fed’s meeting at the end of the month. Market Insiderread more


What to watch in markets for the week aheadMore than a quarter of the S&P 500 companies report earnings in the week ahead, and that could buffet the market as investors await the Fed’s meeting at the end of the month. Market Insiderread more
NASA is considering this inflatable space habitat for its return to the moon Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-19  Authors: brian clark
Keywords: news, cnbc, companies, meeting, markets, considering, monthmarket, investors, return, market, nasa, habitat, report, watch, space, inflatable, sp, quarter, week, moon


NASA is considering this inflatable space habitat for its return to the moon

What to watch in markets for the week ahead

More than a quarter of the S&P 500 companies report earnings in the week ahead, and that could buffet the market as investors await the Fed’s meeting at the end of the month.

Market Insider

read more


Company: cnbc, Activity: cnbc, Date: 2019-07-19  Authors: brian clark
Keywords: news, cnbc, companies, meeting, markets, considering, monthmarket, investors, return, market, nasa, habitat, report, watch, space, inflatable, sp, quarter, week, moon


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Cramer’s rundown of earnings next week: Buy Chipotle, watch Whirlpool and steer clear of Alphabet

Here is Cramer’s game plan for the trading week of July 22:Monday: Halliburton; WhirlpoolHalliburton: The oil service company reports earnings before the market opens. Coca-Cola: The iconic drink maker reports earnings in the morning. Tesla: Tesla reports earnings after the bell. Starbucks: The seemingly ubiquitous coffee chain reports earnings after the close. “I recommend buying it into any dip next week,” Cramer said.


Here is Cramer’s game plan for the trading week of July 22:Monday: Halliburton; WhirlpoolHalliburton: The oil service company reports earnings before the market opens. Coca-Cola: The iconic drink maker reports earnings in the morning. Tesla: Tesla reports earnings after the bell. Starbucks: The seemingly ubiquitous coffee chain reports earnings after the close. “I recommend buying it into any dip next week,” Cramer said.
Cramer’s rundown of earnings next week: Buy Chipotle, watch Whirlpool and steer clear of Alphabet Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-19  Authors: tyler clifford
Keywords: news, cnbc, companies, watch, earnings, tesla, stock, whirlpool, rundown, week, cramers, cramer, results, market, chipotle, bell, reports, think, steer, clear, buy


Cramer's rundown of earnings next week: Buy Chipotle, watch Whirlpool and steer clear of Alphabet

Wall Street is preparing for a big week of earnings that will offer a better read of the apparent economic slowdown, CNBC’s Jim Cramer said Friday. During Friday’s session, the Dow Jones Industrial Average slid nearly 69 points. The S&P 500 and Nasdaq Composite also slipped 0.62% and 0.74%, respectively, as the market digested a full week of the latest quarterly results. The two latter indexes posted their worst weeks since May. “You need to understand that we’re about to embark on the busiest week of the year for industrial earnings,” the “Mad Money” host said. “We’ll be flooded with new information, and if you can’t handle it or handle all the noise … this might be the perfect week to take your summer vacation.” Here is Cramer’s game plan for the trading week of July 22:

Monday: Halliburton; Whirlpool

Halliburton: The oil service company reports earnings before the market opens. Cramer thinks the results will be suboptimal. Halliburton could signal a stronger second half of the year, Cramer said, “but this market is not the least but sanguine about oil.” Whirlpool: Whirlpool’s results come after the bell. Cramer also thinks the report will be subpar, but says the company could offer key details about the consumer. “The banks have told us that the consumer is flush,” he said. “Whirlpool’s washer and dryer sales are going to tell a better tale.”

Tuesday: United Technologies; Coca-Cola; Chipotle; Visa

United Technologies: United Technologies has an earnings call before trading starts. Cramer said he expects to hear a good story from management, but some on Wall Street are skeptical of the plan to merge with Raytheon. “I think it’s a good move for United Technologies, but [CEO Greg] Hayes has got to come out on this call and flesh out why he thinks this deal is worth doing,” he said. Coca-Cola: The iconic drink maker reports earnings in the morning. Cramer is bullish on the stock. “This is not an exciting stock. It’s just a stock that kind of goes up over time,” he said. Chipotle: Chipotle will hold a conference call after the market closes. “I’d recommend buying some before the quarter and some after, just in case it pulls back,” Cramer said. Visa: Visa reports earnings after the market closes. “This stock is an erratic trader. It often sells off on even the best of reports, giving you the single finest moment to pick some up into weakness,” Cramer said.

Wednesday: Boeing; Caterpillar; Tesla; Facebook; PayPal; Xilinx; ServiceNow

Boeing: The airplane manufacturer, which has weathered months of controversy, reports earnings in the morning. Boeing said Thursday it would take a $4.9 billion charge for its 737 Max plane challenges. “It is hard to quantify the money that’s involved with this kind of problem, but this charge, I think, gives you some certainty,” Cramer said. “That makes Boeing’s quarter a lot less risky, as far as I’m concerned.” Caterpillar: The heavy-machinery manufacturer delivers its latest results prior to the bell. “I think CAT’s a buy ahead of the report. And then I’d double down more after we see the numbers,” Cramer said. Tesla: Tesla reports earnings after the bell. Investors are wondering if the company is making money, Cramer said. “People get mad at me because I won’t take a stand on Tesla, but I simply think it’s a cult stock and cult stocks are hard to game,” he said. Facebook: The internet conglomerate reports results when markets close. “Remember, a year ago, it was really the darkest time for Facebook,” Cramer said. “But, in the end, I don’t think Facebook’s business has been hurt at all … because the advertisers still love it.” PayPal: PayPal, which Cramer called the “king of payments,” has an earnings call after the bell. “PayPal’s stock tends to stall out after earnings, especially when it’s had a big run going into the quarter,” Cramer said. “If you’re going to buy PayPal, I have to suggest … that you wait until after it reports.” Xilinx: Xilinx reports earnings after stocks stop trading. “Listen closely to this one,” Cramer said. “They may know more than anyone else about what the Chinese are thinking.” ServiceNow: ServiceNow also reports after the market close.

Thursday: 3M; Amazon; Alphabet; Starbucks

3M: 3M has a conference call scheduled before the bell. The company has been plagued by water pollution issues. Amazon: The retail giant reports earnings after the market closes. “I’ll be paying more attention to Amazon Web Services … to see if it can match the strength of Microsoft’s competing Azure platform, which was extraordinary, ” Cramer said. Alphabet: The Google-parent also delivers results after the closing bell. “It’s been a bummer to own going into almost every quarter that I can recall these times,” the host said. Starbucks: The seemingly ubiquitous coffee chain reports earnings after the close. It’s one of six stocks that Cramer says investors can’t get enough of. “I want to emphasize that when this stock runs into earnings, and it has really run into earnings, it tends to be a disappointment,” he said.

Friday: McDonald’s

McDonald’s: Shareholders will hear the latest results from McDonald’s in the morning. “I recommend buying it into any dip next week,” Cramer said.

WATCH: Cramer discusses the week ahead in earnings


Company: cnbc, Activity: cnbc, Date: 2019-07-19  Authors: tyler clifford
Keywords: news, cnbc, companies, watch, earnings, tesla, stock, whirlpool, rundown, week, cramers, cramer, results, market, chipotle, bell, reports, think, steer, clear, buy


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After a great start to earnings season, overall profits are no longer expected to decline

The earnings season began this week, with 43 S&P 500 companies reporting as of Wednesday morning, and a whopping 84% beating analysts’ estimates. Refinitiv’s S&P 500 earnings growth forecast had been negative 0.3% at one point, but with the actual reports and forecasts for the rest of the S&P, second-quarter earnings look set to grow about 0.4%, a number that could continue to rise. The stock market, meanwhile, has traded sideways to slightly lower on thin volume this week, as earnings rolled ou


The earnings season began this week, with 43 S&P 500 companies reporting as of Wednesday morning, and a whopping 84% beating analysts’ estimates. Refinitiv’s S&P 500 earnings growth forecast had been negative 0.3% at one point, but with the actual reports and forecasts for the rest of the S&P, second-quarter earnings look set to grow about 0.4%, a number that could continue to rise. The stock market, meanwhile, has traded sideways to slightly lower on thin volume this week, as earnings rolled ou
After a great start to earnings season, overall profits are no longer expected to decline Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: patti domm
Keywords: news, cnbc, companies, expected, season, earnings, companies, think, 500, great, week, market, start, bell, profits, longer, sp, secondquarter, stock, decline, overall


After a great start to earnings season, overall profits are no longer expected to decline

Traders and financial professionals work at the opening bell on the floor of the New York Stock Exchange. Drew Angerer | Getty Images

Corporate earnings forecasts for the second quarter were lowered so much that companies are easily beating them, and expectations for negative profit growth are already expected to turn positive, after just the first several dozen reports. The earnings season began this week, with 43 S&P 500 companies reporting as of Wednesday morning, and a whopping 84% beating analysts’ estimates. Refinitiv’s S&P 500 earnings growth forecast had been negative 0.3% at one point, but with the actual reports and forecasts for the rest of the S&P, second-quarter earnings look set to grow about 0.4%, a number that could continue to rise. Actual reported earnings of the 9% of the S&P that have reported are up 8.8%. “No matter what the economic circumstances are, no matter what the backdrop is, there’s this dynamic that companies like to lowball and analysts like to give them headroom,” said Ed Keon, chief investment strategist at QMA. “The fact that numbers are coming in better than expected — it’s been the case for decades now.” The stock market, meanwhile, has traded sideways to slightly lower on thin volume this week, as earnings rolled out. “After such a great run and the summer doldrums, I wouldn’t be surprised to see a modest pullback here. I guess the way to think about it is we’re a little cautious, but we think stock prices will work higher over the course of the year,” said Keon.

Will the good trend continue?

The S&P 500 is up about 19.5% for the year so far, and for July, it is up 1.8% after a 7% gain in the month of June. “I think the market should kind of digest things,” said CFRA investment strategist Lindsey Bell. “Second quarter is pretty good so far. It’s still fairly early in the earnings season. I think the managers are being fairly cautious as they provide guidance for the rest of the year.” But Bell said the market may not continue to take all earnings reports in stride and could sell off when industrial companies begin to report. Those companies could discuss the negative impact of trade wars on profits and revenues, like Fastenal did last week when it said its price increases could not offset higher costs. “As we get more industrials in the next couple of weeks, I think that will create more volatility and drive the market lower in the near term. You look at CSX’s end market, and its autos, chemicals and metals. Chemicals and metals are two areas where I expect pressure,” she said. She added that industrials had rallied along with the market in the last month. Railroad company CSX reported lower-than-expected profits Tuesday afternoon, and its revenues fell short, declining to $3.06 billion from $3.1 billion. Its stock plunged more than 10% Wednesday after it lowered its guidance and its CEO, James Foote, blamed its performance on economic conditions, saying, “the present economic backdrop is one of the most puzzling I have experienced in my career.” “I think you’re going to see that third-quarter numbers come down and the fourth-quarter will come down. Second-quarter were lowered enough,” said Bell. She noted that S&P Capital IQ is now expecting a decline of just over 1% in second-quarter S&P 500 profits, from an earlier 2% decline. “The beats from the banks have been pretty solid. I think we’re going to get closer to 2 to 2.5% positive growth in the second quarter.”

Tech earnings ahead


Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: patti domm
Keywords: news, cnbc, companies, expected, season, earnings, companies, think, 500, great, week, market, start, bell, profits, longer, sp, secondquarter, stock, decline, overall


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CEO of railroad giant CSX says the economy is the ‘most puzzling’ he’s seen as stock plummets

The CEO of giant East Coast railroad operator CSX is sounding alarm on the U.S. economy as it weighs on the company’s shipping volumes. “Both global and U.S. economic conditions have been unusual this year, to say the least, and have impacted our volumes. You see it every week in our reported carloads,” Chief Executive James Foote said on a conference call Tuesday after the earnings report. Foote has worked in the railroad industry for more than 40 years and has been CEO of CSX since 2017. CSX i


The CEO of giant East Coast railroad operator CSX is sounding alarm on the U.S. economy as it weighs on the company’s shipping volumes. “Both global and U.S. economic conditions have been unusual this year, to say the least, and have impacted our volumes. You see it every week in our reported carloads,” Chief Executive James Foote said on a conference call Tuesday after the earnings report. Foote has worked in the railroad industry for more than 40 years and has been CEO of CSX since 2017. CSX i
CEO of railroad giant CSX says the economy is the ‘most puzzling’ he’s seen as stock plummets Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: yun li
Keywords: news, cnbc, companies, csx, ceo, puzzling, weighs, economic, stock, reported, say, railroad, giant, economy, week, plummets, earnings, worked, seen, hes


CEO of railroad giant CSX says the economy is the 'most puzzling' he's seen as stock plummets

The CEO of giant East Coast railroad operator CSX is sounding alarm on the U.S. economy as it weighs on the company’s shipping volumes.

“Both global and U.S. economic conditions have been unusual this year, to say the least, and have impacted our volumes. You see it every week in our reported carloads,” Chief Executive James Foote said on a conference call Tuesday after the earnings report. “The present economic backdrop is one of the most puzzling I have experienced in my career.”

Foote has worked in the railroad industry for more than 40 years and has been CEO of CSX since 2017.

CSX is taking a hit from a “softer industrial environment” executives say and so it reported disappointing second-quarter earnings and a slashed revenue forecast.


Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: yun li
Keywords: news, cnbc, companies, csx, ceo, puzzling, weighs, economic, stock, reported, say, railroad, giant, economy, week, plummets, earnings, worked, seen, hes


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British government won’t try to stop Facebook’s new Libra digital coin, says UK finance minister

Regulators, not lawmakers, should decide whether Facebook needs a banking license to launch the new digital currency Libra, according to Philip Hammond, Britain’s outgoing finance minister. Hammond also told CNBC on Monday that the British government will “engage” with Libra and won’t try to stop it. This week in the U.S., Senate and House committees are due to examine Facebook’s proposed Libra currency and how it might impact consumers, investors and the U.S. financial system. The social networ


Regulators, not lawmakers, should decide whether Facebook needs a banking license to launch the new digital currency Libra, according to Philip Hammond, Britain’s outgoing finance minister. Hammond also told CNBC on Monday that the British government will “engage” with Libra and won’t try to stop it. This week in the U.S., Senate and House committees are due to examine Facebook’s proposed Libra currency and how it might impact consumers, investors and the U.S. financial system. The social networ
British government won’t try to stop Facebook’s new Libra digital coin, says UK finance minister Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-15  Authors: david reid
Keywords: news, cnbc, companies, finance, banking, libra, minister, world, stop, uk, coin, viewed, digital, currency, wont, facebooks, facebook, week, try


British government won't try to stop Facebook's new Libra digital coin, says UK finance minister

Regulators, not lawmakers, should decide whether Facebook needs a banking license to launch the new digital currency Libra, according to Philip Hammond, Britain’s outgoing finance minister.

Hammond also told CNBC on Monday that the British government will “engage” with Libra and won’t try to stop it.

This week in the U.S., Senate and House committees are due to examine Facebook’s proposed Libra currency and how it might impact consumers, investors and the U.S. financial system.

The social network’s digital token is being launched as a solution for the number of people in the world currently operating without access to banking services. It is also viewed as a potential moneymaker for Facebook that would likely compete with the multibillion-dollar remittance market.


Company: cnbc, Activity: cnbc, Date: 2019-07-15  Authors: david reid
Keywords: news, cnbc, companies, finance, banking, libra, minister, world, stop, uk, coin, viewed, digital, currency, wont, facebooks, facebook, week, try


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US Treasury yields hold steady following biggest weekly climb in three months

U.S. Treasury yields paused a sharp climb on Monday after the 10-year note posted its biggest weekly climb since April following better-than-expected inflation data. Last week’s surge for Treasury yields came on the back of stronger-than-expected inflation figures last week. Treasurys had fallen earlier this month to their lowest levels in two years on expectations of a rate cut from the Fed, with the 10-year Treasury yield falling below 2%. “There is a risk that weak inflation will be even more


U.S. Treasury yields paused a sharp climb on Monday after the 10-year note posted its biggest weekly climb since April following better-than-expected inflation data. Last week’s surge for Treasury yields came on the back of stronger-than-expected inflation figures last week. Treasurys had fallen earlier this month to their lowest levels in two years on expectations of a rate cut from the Fed, with the 10-year Treasury yield falling below 2%. “There is a risk that weak inflation will be even more
US Treasury yields hold steady following biggest weekly climb in three months Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-15  Authors: thomas franck elliot smith, thomas franck, elliot smith
Keywords: news, cnbc, companies, climb, inflation, yield, biggest, treasury, months, yields, following, price, weak, weekly, 10year, week, hold, powell, secondquarter, steady


US Treasury yields hold steady following biggest weekly climb in three months

U.S. Treasury yields paused a sharp climb on Monday after the 10-year note posted its biggest weekly climb since April following better-than-expected inflation data.

At around 9:54 a.m. ET, the yield on the benchmark 10-year note, which moves inversely to price, inched lower to 2.096%, while the yield on the 30-year Treasury bond was slipped to 2.617%.

Last week’s surge for Treasury yields came on the back of stronger-than-expected inflation figures last week. The U.S. consumer price index rose more than expected in June, with the core CPI posting its biggest gain in 18 months.

The CPI data, combined with weak demand at recent Treasury auctions, combined to drive up yields. Treasurys had fallen earlier this month to their lowest levels in two years on expectations of a rate cut from the Fed, with the 10-year Treasury yield falling below 2%.

That may come as a relief to some members of the Federal Reserve. Fed Chair Jerome Powell said in a biannual address to Congress last week that the inflation outlook looks muted and that the central bank will act “as appropriate” to sustain economic expansion.

“There is a risk that weak inflation will be even more persistent than we currently anticipate. We are carefully monitoring these developments, and we will continue to assess their implications for the U.S economic outlook and inflation,” Powell said in his prepared remarks.

Inflation, which central bankers like to keep around 2%, has seen a reversal over the last year. Powell said Wednesday that the Fed’s baseline case sees inflation trending back towards the Fed’s objective over time.

Elsewhere, China posted second-quarter growth figures on Monday that showed its economy grew 6.2% in the second-quarter, at its slowest pace in 27 years. Still, China’s GDP (gross domestic product) growth was in line with expectations, and data for industrial production, retail sales and fixed-asset investment came in above analyst expectations.

Follow CNBC International on and Facebook.


Company: cnbc, Activity: cnbc, Date: 2019-07-15  Authors: thomas franck elliot smith, thomas franck, elliot smith
Keywords: news, cnbc, companies, climb, inflation, yield, biggest, treasury, months, yields, following, price, weak, weekly, 10year, week, hold, powell, secondquarter, steady


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US Treasury yields hold steady following biggest weekly climb in three months

U.S. Treasury yields paused a sharp climb on Monday after the 10-year note posted its biggest weekly climb since April following better-than-expected inflation data. Last week’s surge for Treasury yields came on the back of stronger-than-expected inflation figures last week. Treasurys had fallen earlier this month to their lowest levels in two years on expectations of a rate cut from the Fed, with the 10-year Treasury yield falling below 2%. “There is a risk that weak inflation will be even more


U.S. Treasury yields paused a sharp climb on Monday after the 10-year note posted its biggest weekly climb since April following better-than-expected inflation data. Last week’s surge for Treasury yields came on the back of stronger-than-expected inflation figures last week. Treasurys had fallen earlier this month to their lowest levels in two years on expectations of a rate cut from the Fed, with the 10-year Treasury yield falling below 2%. “There is a risk that weak inflation will be even more
US Treasury yields hold steady following biggest weekly climb in three months Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-15  Authors: thomas franck elliot smith, thomas franck, elliot smith
Keywords: news, cnbc, companies, treasury, following, powell, steady, yield, 10year, inflation, secondquarter, expectations, weekly, yields, weak, hold, climb, biggest, months, week


US Treasury yields hold steady following biggest weekly climb in three months

U.S. Treasury yields paused a sharp climb on Monday after the 10-year note posted its biggest weekly climb since April following better-than-expected inflation data.

At around 4:04 p.m. ET, the yield on the benchmark 10-year note, which moves inversely to price, inched lower to 2.089%, while the yield on the 30-year Treasury bond slipped to 2.608%.

Last week’s surge for Treasury yields came on the back of stronger-than-expected inflation figures last week. The U.S. consumer price index rose more than expected in June, with the core CPI posting its biggest gain in 18 months.

The CPI data, combined with weak demand at recent Treasury auctions, combined to drive up yields. Treasurys had fallen earlier this month to their lowest levels in two years on expectations of a rate cut from the Fed, with the 10-year Treasury yield falling below 2%.

That may come as a relief to some members of the Federal Reserve. Fed Chair Jerome Powell said in a biannual address to Congress last week that the inflation outlook looks muted and that the central bank will act “as appropriate” to sustain economic expansion.

“There is a risk that weak inflation will be even more persistent than we currently anticipate. We are carefully monitoring these developments, and we will continue to assess their implications for the U.S economic outlook and inflation,” Powell said in his prepared remarks.

Inflation, which central bankers like to keep around 2%, has seen a reversal over the last year. Powell said Wednesday that the Fed’s baseline case sees inflation trending back towards the Fed’s objective over time.

Elsewhere, China posted second-quarter growth figures on Monday that showed its economy grew 6.2% in the second-quarter, at its slowest pace in 27 years. Still, China’s GDP (gross domestic product) growth was in line with expectations, and data for industrial production, retail sales and fixed-asset investment came in above analyst expectations.


Company: cnbc, Activity: cnbc, Date: 2019-07-15  Authors: thomas franck elliot smith, thomas franck, elliot smith
Keywords: news, cnbc, companies, treasury, following, powell, steady, yield, 10year, inflation, secondquarter, expectations, weekly, yields, weak, hold, climb, biggest, months, week


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