UK House Speaker Block PM May For Another Brexit Parliament Votes

Bercow suggests he will not allow another Brexit deal vote unless EU agrees further changes as it happenedTheresa Mays government has been plunged into constitutional chaos after the Speaker blocked the prime minister from asking MPs to vote on her Brexit deal for a third time unless it had fundamentally changed.With 11 days to go until Britain is due to leave the EU May was forced to pull her plans for another meaningful vote because John Bercow said [read more]

US Stocks End Higher Await Fed Meeting

Stocks closed on a positive note on Monday to extend last weeks broadbased rally even as Boeings travails dragged on the bluechip Dow. The S&P 500 SPX 0.37% rose less than 0.4% to end near 2833. The Dow Jones Industrial Average DJIA 0.25% advanced 65 points or less than 0.3% to finish near 25912 based on preliminary numbers. The Nasdaq Composite COMP 0.34% rose 0.3% to end around 7714. The Dow notched its fourth straight consecutive gain. The S&P and [read more]

Fed Meet Later This Week

The U.S. Federal Reserve is set to meet on Tuesday and Wednesday stateside Powell and his colleagues will leave the Feds benchmark overnight interest rate unchanged in a range of 2.25 percent to 2.50 percent and stick to their pledge of a patient approach to monetary policy is effectively a given. The Fed also is likely to announce the end of its operation to unwind its balance sheet.The big reveal though will be whether policymakers will have sufficiently lowered their interest rate forecasts to more closely align their notorious dot plot [read more]

Another Brexit Parliament's Votes, Here's Four Possible Outcome

With MPs due to vote on Mays deal a third time here are four scenarios that might play outAfter Theresa Mays deal was voted down for a second time last Tuesday and with just days to go before EU leaders meet in Brussels to discuss a potential article 50 extension this looks like yet another crunch week for Brexit. What could happen1. Mays deal scrapes over the line short technical Brexit delayThe governments deal was [read more]

A Busy Week Ahead, Here's What You Need To Know

This week events and data that will possiblly move the markets starting with a possible EU agreement to extend Brexit. Another Brexit deal vote is due to take place. A vote in favor of the deal would then lead to a 3month extension to Brexit request. A vote against and expect chaos ahead. EU member states must all agree on any extension. They may press for a much longer extension than 3months. Politics and tradesThere are no material stats due out this week. The U.S China trade talks will [read more]

US-China Trade-deal Dateline Delay For 3-4 Weeks

Trump Well know in next 3 or 4 weeks about possible China trade dealPresident Donald Trump said Thursday the U.S. will probably know in the next three or four weeks about a possible trade deal with China.If that one gets done it will be something that people will be talking about for a long time Trump said in remarks during a St. Patricks Day reception from the White Houses East Room.President Donald Trump said Thursday the U.S. will probably [read more]

UK Parliament Voted To Delay Brexit.

The UK Parliament has voted to postpone the Brexit deadline but its now up to the European Union to agree to an extension.Prime Minister Theresa May put forward a measure Thursday that sought to delay the UKs exit from the EU beyond the current March 29 deadline. Parliament voted 412 to 202 in favor.Parliament approved the extension a day after it voted against leaving the European Union without some sort of deal in place and two days after members of [read more]

US Stocks Closed Lower On US-China Trade-deal Delay

U.S. stocks closed mostly lower Thursday as investors digested headlines suggesting progress toward a U.S.China trade deal has stalled against the backdrop of weakerthanexpected Chinese economic data. A meeting between President Donald Trump and Chinese President Xi Jinping will be delayed until at least April Bloomberg News reported indicating that a bilateral trade deal will not be finalized this month.The news comes after Trump told reporters in the White House on Wednesday that he was in no rush to strike a trade agreement and said there remained the possibility that he could [read more]

Trump Said He Will Walk Away From The Trade Talk If It Not To His Liking

WASHINGTON President Donald Trump on Wednesday dangled the prospect of walking away from a new trade deal with China if its not to his liking just as he cut short his summit with North Koreas Kim Jong Un when the two sides failed to reach an agreement.Trump spoke on the state of negotiations with China shortly before meeting with Republican senators on trade issues. He spoke optimistically of the U.S. and China being able to reach an agreement declaring that China has not been doing well. Weve been doing unbelievably [read more]

UK Parliament Voted, Rejecting A 'No-Deal' Brexit

photo by alamy stock photoUK Parliament rejects leaving the EU without a Brexit dealParliament says it doesnt want a nodeal Brexit. Now it will vote on whether to ask the European Union for a delay as Prime Minister Theresa May pushes for a third vote on her Brexit deal.The deeply divided British Parliament can only seem to agree on one thing It doesnt want the United Kingdom to leave the European Union without a deal.The UK Parliament rejected a no deal Brexit on Wednesday. This [read more]

US Stocks Closed On Stronger Than Expected Economic Datas

U.S. stocks closed higher Wednesday with the S&P 500 posting its highest close in more than four months as investors parsed economic data that included strongerthanexpected durable goods orders and further signs that inflation remains subdued.Shares of Boeing ended a sevenday losing streak despite continued concerns about the safety of its cutting edge 737 Max 8 continued unabated following the second deadly crash involving the model in Ethiopia over the weekend.The U.K. Parliament on Wednesday voted against a nodeal Brexit [read more]

Gold Higher After Brexit Parliament Votes

Gold moved up as U.K. Prime Minister Theresa May suffered second Brexit defeat in just three months raising market concerns over the quickly approaching March 29 Brexit deadline.UK parliament voted on Tuesday to reject Prime Minister Theresa Mays Brexit deal by 391 votes to 242 after May said she secured legally binding changes to her Brexit deal.Gold climbed above its key psychological level of $1300 with April futures last trading at $1301.40 up 0.80% on the day.Kitcos senior [read more]

UK Parliament Reject PM May Brexit Deal

Theresa Mays revised Brexit deal has been defeated in the House of Commons as MPs voted against it by 391 to 242 despite last minute assurances over the Irish backstop.The last time Mrs Mays withdrawal agreement was put to Parliament in January it was voted down by 432 to 202.With Mays plan rejected a vote about leaving the UE without a deal will take place Wednesday and if not approved on Thursday the Parliament will decide on a Brexit extension. Markets remain quiet after the vote. As of writing PM [read more]

Both Nasdaq And S&P500 Closed UP But DJI Drag Down By Boeing

U.S. stocks closed mostly higher Tuesday led by the health care and utilities sectors while the Dow Jones Industrial Average retreated as shares of Boeing Co. which is the largest component priceweighted of the Dow Boeing BA 6.15% sank another 6.2% after losing 5.3% Monday.The U.K. Parliaments rejection of Prime Minister Theresa Mays Brexit deal in part as the outcome had been anticipated. Lawmakers will now have to decide whether they want a Brexit without a deal or possibly extend the March 29 deadline for leaving the European Union.On Trade Chian [read more]

UK PM May Secures 'Legally-Binding Changes' To Brexit Deal

LONDON The British government said Monday that frenzied lastminute diplomacy had won legally binding changes to overcome a roadblock in its BREXIT deal with the E.U. hours before Parliament was due to decide the fate of Prime Minister Theresa Mays hardwon agreement and of Britains departure from the EU.On the eve of Tuesdays vote May flew to the French city of Strasbourg where EU legislators were meeting for nighttime talks with European Commission President JeanClaude Juncker. The prime minister was seeking revisions guarantees [read more]

US Stocks Closed +200 Broke % Days Lossing Streak

U.S. stocks snapped a fiveday losing streak to close higher Monday as technology shares rallied offsetting some of the gloom from Boeing Co.s woes. Shares of Boeing BA 5.33% had their worst day in nearly five months falling 5.3% at session lows the Dows most heavily weighted companys stock was down more than 13% subtracting 152.77 points from the Dow on the day. Boeing has delivered about 350 of its bestselling 737 Max planes with orders for more than 5000 more.Last week Boeing Chief Executive Officer Dennis Muilenburg told an aviation conference [read more]

Boeing Stock Down Over -$40 or 9.67% Pre-market

Dow Jones Industrial Average futures fell sharply on Monday amid concerns that heavily weighted Boeing Co. will drag the main index lower after the second deadly crash in six months involving one its planes.How are major indexes faringDow Jones Industrial Average futures YMM9 0.79%  slid 185 points or 0.7% to 25343 while S&P 500 futures ESM9 0.02%  were unchanged at 2753.25. Nasdaq100 futures NQM9 0.12% gained 10 points or 0.1% to 7067.75.The Dow Jones Industrial Average DJIA 0.09% logged its longest losing streak [read more]

Federal Reserve Chairman Jerome Powell turned into a cheerleader for the economy in an interview with 60 Minutes on Sunday.Weve seen a bit of slowing but still to healthy levels in the U.S. economy this year Powell told the CBS News program.I would say theres no reason why this economy cannot continue to expand he added.A weak retail sales report for December and a meager gain in jobs reported Friday have raised concerns that the slowdown [read more]

Tuesday UK Parliament To Votes On Brexit

Deal No deal Delay  Parliament Brexit votesUK Prime Minister Theresa May will put the Brexit deal to a second vote. If it gets defeated Parliament will vote on whether to leave the EU without a deal or seek an extension.British Prime Minister Theresa May will try again Tuesday 1132019 to get a Brexit deal through Parliament with less than 18 days to go before the March 29 deadline.The focus of those negotiations has been the Irish [read more]

Boeing  Stocks In Big Trouble After It Best-Selling Crashed Again In Just 5 Months

chart by FactSetEthiopian Airlines Flight 302 crashed in a rural area outside of Addis Ababa killing all 157 people on board.The crash comes less than five months after the crash of a Lion Air Boeing 737 MAX 8 in Indonesia killing 189 people.The recent incident raises questions for the topselling plane made by Boeing whose commercial airplane business generated nearly 60 percent of the companys record $101.1 billion in revenue last year.The manufacturers stock is up 31 percent this year making it the top gainer in the [read more]

It should be time for celebration on Wall Street. A bullish golden cross is on the verge of materializing in the 122yearold Dow Jones Industrial Average coming after an anxietyprovoking dip more than two months ago.However the formation which is widely viewed as an upbeat signal comes amid a torrent of market indicators suggesting stocks arent entirely primed to explode substantially higher and could even break lower.As of Thursday the Dows DJIA 0.78% 50day moving average was at 24736.36 while the gauges 200day moving average was at 25125.81 FactSet data show. [read more]

ECB Leader Acknowledge 'Sick' European Economic

Investors fled to the relative safety of debt after the European Central Banks cut its GDP expectations rekindling fears that a global slowdown could affect the U.S.The yield on the 10year German bund was cut in half from 13 basis points to about 6.5 basis points while rates on Italian debt fell as much as 19 basis points.While it was no surprise to us the ECB has finally recognized how sick their economy is said Andrew Brenner of National Alliance.U.S. investors swarmed into [read more]

US February 2019 Non-farm Payroll, What You Need To Know

After the Labor Departments past two jobs reports showed much strongerthanexpected employment growth market participants are hoping for another blowout reading on the U.S. labor market on Friday.But whether they will get one is another story.The economy is expected to have added a more modest 180000 nonfarm payrolls in February down from the 304000 positions added in January according to Bloombergcompiled estimates. The unemployment rate is expected to have ticked down to 3.9% in February from 4% previously. Average hourly earnings are anticipated to have increased 3.3% yearoveryear for the month [read more]

BoJ Yutaka Harada Said The Central Bank Must Ramp Up Stimulus

KOFU Japan Bank of Japan board member Yutaka Harada said on Wednesday the central bank must ramp up stimulus without delay if risks to the economy threaten achievement of its inflation target.Mr Harada a vocal advocate of aggressive monetary easing said Japans economy was facing growing risks including from slowing demand in China simmering trade tensions volatile stock price moves and weak private consumption.There was also a risk that subdued inflation could heighten views among the public that prices wont rise much and delay achievement [read more]

Euro Continues To slides For The 4th Days Ahead Of Tomorrow ECB Meeting

London GLOBAL forex markets were overshadowed by the continued decline in volatility lending a boost to higheryielding currencies such as the US dollar and emerging markets.Focus has turned to meetings at the European Central Bank (ECB) the institutions facing the need to address stuttering economic growth and a slowdown in world trade.The euro held near oneweek lows versus the dollar at US$1.1318 on expectations that the ECBs Thursday meeting would hint at delaying hiking rates until next year and soon relaunch longterm bank loans to tackle [read more]

US Stocks Ended Lower On Thin Volume

U.S. stocks closed slightly lower Tuesday after major benchmarks spent all session flipping between gains and losses. Markets are relatively quiet on volume that is about 17% less than average digesting recent gains attempting to find a catalyst for either direction. It appears investors are watching the pivotal 2800 level on the S&P 500 that has capped advances for several months.Trade talk China on Tuesday lowered its economic growth target for 2019 to between 6% and 6.5% acknowledging a deepening slowdown. Premier Li Keqiang at the opening of the annual session of Chinas [read more]

Mining Companies Need $1,400 To Kick Start Projects

$1400 an ounce for gold is a price level not seen in six to seven years and is a level that is needed to kick mining projects into overdrive said Amir Adnani chairman of GoldMining and CEO of UEC. Its a mark that from a standpoint of project development makes many other projects that are maybe borderline economic or just need that extra move in the gold price to become interesting and economic and also its the price that makes most intermediate gold producers start [read more]

OPEC Price-boosting, Output Cut Target To Be Achieve In April

OPEC and its allies will probably achieve their goal of draining oversupply from the oil market and boosting prices by next month says Jeff Currie global head of commodities research at  [read more]

US Stocks Ended Lower As Market Concerns About Stock Market Is Too Expensive

Stocks finished lower Monday with the Dow closing at a twoweek low concerns that stocks are becoming too expensive on the back of a twomonth rally from December lows also weighed on sentiment.USChina Trade Talk The Wall Street Journal reported that Washington and Beijing could reach a trade deal as soon as this month. Media reports also said the pact would end most U.S. tariffs levied against China in exchange for the latter following up on its own promises to allow in more U.S. exports [read more]

Brexit Set At 11pm 29th March, Will There Be A Deal Or Not

This is an obvious one. In case you havent been following developments coming out of Europe Brexit Day is fast approaching. This is the date March 29 when the U.K. is supposed to leave the European Union. Of course theres been massive political chaos in the runup to this date and we still dont know whether Brexit will go on as planned will be delayed or will just fail altogether. What ultimately happens is almost certain to make a large impact on the British pound just like the original [read more]

Trump Says Strong US Dollar Will Hurt The Economy

Trump says strong US dollar rate hikes are hurting economyPresident Donald Trump spoke at the Conservative Political Action Conference on Saturday.Discussing Federal Reserve Chair Jerome Powell Trump said that he respects Powells interest rate hikes but suggested hes worried the dollar could become too strong.President Donald Trump reiterated his criticism of the Federal Reserves monetary policy and said it is promoting a strong U.S. dollar possibly at the expense of the U.S. economy during a nearly twohour speech at the Conservative [read more]

The Week Ahead 04-08 March

After Q4 2018  betterthanexpected GDP growth investors will get a look into the the health of the U.S. labor market on Friday March 8 when the US  release February nonfarm payroll report.Economists polled by Bloomberg are forecasting that the U.S. economy added 185000 jobs during February down from the 304000 jobs added in January. The unemployment rate is expected to tick down slightly to 3.9% from 4% last month.Friday also marks a historic day for the market. It is the tenth anniversary for the longest bull market on record. [read more]

Fed Chair Reiterated 'Patient' Approach To Rate

Federal Reserve Chairman Jerome Powell repeated the central banks recent mantra of pledging patience in the face of conflicting economic signals and subdued inflation.The Federal Open Market Committee will be patient as we determine what future adjustments to the target range for the federal funds rate may be appropriate to support our dualmandate objectives Powell said in the text of a speech Thursday evening in New York.This commonsense riskmanagement approach has served the [read more]

Gold Ended February Lower But Long-term Is On Track To Reach $2,000

Why gold is down for the month but still on a longterm track to reach $2000 an ounceGold prices have pulled back from a 10month high in recent sessions leaving investors wondering why the many geopolitical and economic issues plaguing the market havent been able to fully support the metals haven appeal.Gold notched that multi month peak just over a week ago on the back of uncertainty linked to Brexit the U.S.China trade dispute and global economic growth. But prices on Thursday suffered [read more]

US Stocks Closed Lower Thursday But All Indexes End February Positives

U.S. stocks finished lower Thursday after a sudden breakdown in demilitarization talks with North Korea weighed on sentiment despite that all indexes posted  gains for a second month in a row with the Dow rallying 3.7% in February the S&P 500 up 3% and the Nasdaq gaining 3.4%.Betterthanexpected fourthquarter gross domestic product data helped to offset some of the selling pressure during the session. On Wednesday U.S. Trade Representative Robert Lighthizer said the U.S. would abandon for now its threat to [read more]

PM Teresa May Get Postponed Of Her Brexit Deal By MPs

(LONDON) Prime Minister Theresa May insisted Wednesday that Britain will leave the European Union on schedule next month amid signs that her promise to give Parliament a vote on delaying Brexit was boosting support for her unpopular EU divorce deal.May has bowed to pressure from within her Conservative government and given Parliament the chance to delay Britains scheduled March 29 departure if lawmakers fail to approve her divorce agreement with the bloc.The change of course was welcomed by proEU members of Britains divided [read more]

U.S. Will Formally Abandon Plans To Rise Tariffs On $200 Of Chinese Goods. Trade Representative Lighthizer Says

U.S. will formally abandon plans to raise tariffs on $200 billion of Chinese goods Lighthizer saysU.S. Trade Representative Robert Lighthizer said that the trade deal he is negotiating with China would include a complicated enforcement mechanism that would involve regular consultations with Beijing and reserve the U.S. the right to assess tariffs for Chinese failure to carry out pledges.Lighthizer sketched out the enforcement process the two sides are considering in testimony before the House Ways and Means Committee.After his testimony Lighthizer [read more]

US Stocks Closed Mostly Lower As Investors Focus On Fed Chair Powell And Trade Rep. Lighthizer

U.S. stocks bounced off intraday lows but still closed mostly lower Wednesday as investors focused on separate congressional testimonies from U.S. Trade Representative Robert Lighthizer on U.S.China trade negotiations and a second day of Congressional hearings of Fed Chair Powell.Fed chair Powell testified in front of the House a day after he affirmed the central banks waitandsee approach to rate increases citing slower global growth and its effect on the U.S.Lighthizer appeared before the House Ways and Means Committee on U.S.China trade to provide more insight into the progress of negotiations [read more]

The US Dollar Near 3 Weeks Low

The dollar remained near a threeweek low on Wednesday after Federal Reserve Chairman Jerome Powell reiterated that the central bank would stay patient on monetary policy and as the pound rallied.The dollar index against a basket of six major currencies stood at 96.056 after shedding 0.4 percent overnight when it stooped to 95.948 its lowest since Feb. 5.Powell said on Tuesday that rising risks and recent soft data were unlikely to prevent solid growth for the U.S. economy this year but that the [read more]

Gold Price Steady Wednesday As USD Near 3 Weeks Low

Gold prices were steady on Wednesday as the dollar stood near a threeweek low after the Federal Reserves chairman reiterated the U.S. central bank would stay patient on further interest rate hikes while palladium hovered near a recordpeak.Spot gold was flat at $1328.90 per ounce at 0152 GMT while U.S. gold futures were up 0.2 percent at $1331.20.Rising risks and recent soft data shouldnt prevent solid growth for the U.S. economy this year but the Fed will remain patient in [read more]

Stocks Closed Lower After Fed Chair Day 1 Testimony

U.S. stocks closed lower Tuesday after weaving in and out of positive territory all session following Federal Reserve Chairman Jerome Powells congressional testimony during which he reiterated the central banks waitandsee approach. The Fed bosss comments come as some economic data have pointed to slower U.S. economic growth even as a reading for confidence shot higher.Powell said that some economic data have softened of late helping to justify the central banks decision to take a breather from further rate increases.At the same time he said the job [read more]

U.K.s Theresa May to Consider Delay to Brexit DateTheresa May is considering a plan to delay Brexit and stop the U.K. leaving the European Union with no deal next month according to people familiar with the situation.The prime minister is expected to allow her Cabinet to discuss extending the deadline beyond March 29 at a crunch meeting on Tuesday one of the people said. May would then reveal the Cabinets conclusions in an announcement to Parliament later in the day.While no final decision has been taken putting off the U.K.s [read more]

UK's Labour Party Will Back 2nd Referendum

UKs Labour will back public Brexit vote if parliament rejects its exit plan says Brexit spokesmanBritains opposition Labour will support a second referendum on Brexit if parliament rejects the partys alternative plan for leaving the bloc its Brexit spokesman said on Monday.Parliament is due to debate and vote on Wednesday on the next steps in Brexit.Labour has said it put forward an amendment calling on the government to adopt its Brexit proposals which include a permanent customs union.Britains [read more]

Big Pharma's Executives To Testify Before The Senate Finance Committee

Seven of the U.S. biggest pharmaceutical executives set to testify before the Senate Finance Committee on Tuesday a pivotal moment for prescription drug prices. This come at a time of nearuniversal anger over industry antics.Drug prices are soaring in a way that defies reason. A vial of insulin that cost less than $200 a decade ago now sells for closer to $1500. Actimmune a drug that treats malignant osteoporosis and sells for less than $350 for a onemonth supply in Britain costs $26000 for a onemonth supply in the United States. [read more]

8 Reasons Why Gold Is Still Bullish And How To Protect Your Investment

Gold has rallied 12% since last August but its still a buy. The metal look like a good hedge against possible global turbulence stagflation or recession ahead. Gold is a play on possible dollar weakness too.I remain very positive and constructive on gold says Frank Holmes the CEO and chief investment officer at U.S. Global Investors which offers several preciousmetals funds including the Gold and Precious Metals Fund.Gold analysts at Goldman Sachs think the metal will rally 4% to $1375 an ounce by this summer and [read more]

ECB President Mario Draghi To Speak

Super MarioEuropean Central Bank President Mario Draghi will be the main event on Friday rounding out what has been a very busy week for central bank speakers globally. His words will be parsed forensically for any indication on ECB policy direction. Most of his colleagues on the ECB board have followed other policymakers into dovish territory in recent weeks and have brought up the subject of whether new longterm loans will be extended. Draghi and Co. are heading towards a meeting in about a fortnight where theyll decide [read more]

Tesla's Space X Launches Isreali Moon Mission, Indonesian Satellite & Air Force Test Spacecraft

SpaceX launches private Israeli moon mission Indonesian satellite and Air Force test spacecraftSpaceX launched a Falcon 9 rocket on Thursday evening in what was the third successful mission for the companys rocket booster.The main payload atop the Falcon 9 was the Nusantara Satu satellite built by Maxar Technologies SSL.A secondary payload on board is a lunar lander which if successful would see Israel become the fourth country in history to land on the moon.The second SpaceX launch of 2019 sent a hodgepodge trio of spacecraft into orbit including an [read more]

US Stocks Finish Lower Thursday, Nasdaq End 8th Days Gain

Stocks finished lower Thursday with the Nasdaq snapping an eightsession winning streak. Concerns about slowing global growth were underscored by the release of surveys from Europe and Japan that showed manufacturing contracting in February with exportdependent German manufacturers reporting the worst drop in activity in more than six years.However fears about a worldwide slowdown were somewhat tempered by reports that U.S. and Chinese negotiators were beginning to outline a deal to end a longrunning trade spat. Boths side agrees in principle are being drawn up in six key areas forced technology [read more]

Fitch May Cut UK's 'AA' Rating On Brexit Uncertainty

Fitch may cut UKs AA rating on Brexit uncertaintyFitch Ratings may downgrade the United Kingdoms AA debt rating based on growing uncertainty about the negotiations between Britain and the European Union over the nations departure from the economic bloc next month.Fitch also said it may lower its AA rating on the Bank of England if it cuts the UKs sovereign rating.UKs economic growth slowed to 0.2 percent in the fourth quarter in 2018 from 0.6 percent the quarter before.Fitch Ratings [read more]

Gold Price Lower After FOMC, But Profits Taking In Asia Push Price Back Up

Gold price in Asia are recovering from moderately down in earlyafternoon U.S. trading Wednesday. Gold traded lower after the release of the Federal Reserves FOMC minutes. Gold prices hit a 10month high on Wednesday before US open. Chartbased buying is featured this week in both gold and silver markets as both metals have seen their technical postures improve just recently. April gold futures were last down $0.60 an ounce at $1344.10. March Comex silver was last up $0.108 at $16.065 an ounce.The U.S. economic data point of the [read more]

Stocks Closed Higher After FOMC, Nasdaq 8th Days Higher Close

Stock indexes closed moderately higher Wednesday with the Nasdaq up for an eighth session in a row following the release of minutes from the Federal Reserves January meeting which showed the policysetting committee was split on the path for interest rates. The FOMCs transcript of the meeting in January indicated that officials were divided between those who believed that rate increases might be needed only if inflation accelerated beyond their baseline forecast and those who argued that tighter policy is necessary if the economy evolves as expected. However almost all participants [read more]

US Want China To Stabilize RMB Value

Washington said to urge Beijing for a stable currency in trade talksThe U.S. is asking China to stabilize the value of the yuan as a part of trade deliberations between the economic powerhouses.The move would be aimed at mediating any effort by the Chinese to devalue its currency to counter the Trump administrations tariffs Bloomberg reports.Representatives for the two countries resumed discussions on Tuesday with followup sessions at a higher level scheduled for later in the week.The United States is reportedly asking [read more]

What You Need To Know For Today FOMC Minutes (US e.t. 2pm)

Market watchers will turn their attention to the Federal Open Market Committees (FOMC) January meeting minutes that will be released at 2 p.m. ET on Wednesday.Given the Feds recent dovish pivot investors will be looking for more clarity around the Feds monetary policy path for this year after holding rates steady during the January meeting and hiking rates four times in 2018. Furthermore investors will also be on the lookout for any additional details regarding reducing the $4 trillion in [read more]

US Stocks Closed Higher, Nasdaq Up Straight 7th session

U.S. stocks closed higher Tuesday with the Nasdaq extending its winning streak to a seventh session as another round of U.S.China trade talks began in Washington sparking hopes that the two sides can continue to make progress toward a deal.The markets gains were led by socalled defensive sectors such as utilities and consumer staples which are less sensitive to economic cycles.Investors appeared to pay little attention to Trumps declaration of a national emergency to pay for a wall along the U.S.Mexico border. Sixteen states filed a federal lawsuit on Monday challenging [read more]

US Dollar's Index Building Support Around 96.70

The demand for the buck remains subdued today.USChina trade hopes keep weighing on USD.The greenback in terms of the US Dollar Index (DXY) remains on the defensive and so far unable to pick up any serious pace around the 96.70 region.US Dollar Index weak on riskon moodThe index remains depressed and under pressure prolonging the correction lower from Fridays fresh yearly peaks in the vicinity of 97.40 always against the backdrop of thin trade conditions due to the holiday in the US markets.In fact the greenback is [read more]

OPEC Cut Seem To Be Working

Crude oil sentiment is shifting in a bullish direction with OPEC cuts and a growing list of serious outages taking supply off of the market.Saudi Arabia recently signaled that it would slash its production to just 9.8 million barrels per day (mbd) or about 0.5 mbd more than required under the OPEC deal. That would take Saudi production down to close to a fouryear low a sign that Riyadh is aggressively trying to push up oil prices.That is significant especially since Russia is [read more]

Another Bullish Scenario, Kitco News

The gold market will continue to shine through 2019 as investors have fewer options in the face of lower interest rates slower economic growth and the rising risk of a global recession according to one commodity analyst.In an interview with Kitco News Maxwell Gold director of investment strategy at Aberdeen Standard Investments said that while he is maintaining his forecast for gold prices to hit $1350 an ounce by the end of the year he sees a growing bullish case for gold [read more]

Gold At Testing 2019 High Of $1,326.20

Spot gold had gained 0.3 percent to $1324.80 per ounce by 0324 GMT.The dollar was marginally weaker on Monday as increasing expectations of a U.S.China trade deal led investors to shift away from the safety of the greenback which had been the preferred safehaven during the trade dispute.Gold prices rose to their strongest level in more than two weeks on Monday as the dollar weakened on hopes the United States and China are nearing a trade deal while palladium hit a record high.Spot gold had gained [read more]

Oil Price Stay On Fifth Days Of Gains, On OPEC Cuts & US Sanctions On Venezuela & Iran

OIL prices have soared to their highest levels since November last year in the wake of US sanctions on Iran and Venezuela.The price surge has been caused by an OPECled supply cut and US sanctions on Iran and Venezuela. [read more]

Wednesday Is FOMC Minutes, Here's Is What you Need To Know

Back in January the FOMC made a complete Uturn on its monetary policy stance. FOMC members effectively noted that the balance sheet could be adjusted if need be. Furthermore the FOMC called for patience with future rate hikes. At the time this generated a large amount of weakness for the greenback. Eyes are on a potential dovish statement from the central bank with close attention to the language used.Market participants will be looking for further confirmation that the banks hiking cycle is over. As a result this could [read more]

UK PM's Teresa May Loses Another Brexit Vote, GBP Weaken Against Euro

Government loses vote on Brexit strategy Sterling heads to lower edge of Feb. range vs. Euromarkets selling the currency amidst entrenched uncertainty pertaining to Brexit.Prime Minister Theresa May has suffered a fresh defeat in the House of Commons in a vote on her Brexit strategy by 308 to 258. Tonights vote shows there is no majority for the Prime Ministers course of action in dealing with Brexit yet again her government has been defeated says Labour leader Jeremy Corbyn in response [read more]

Love Trade vs Fear Trade, Which One Drive Gold Prices?

(Kitco News) Investors should be aware that it is the love trade that drives gold demand said U.S. Global Investors CEO Frank Holmes adding that the North American market could be waking up to this soon.There are two drivers to the price of gold the fear trade which dominates the psyche of North Americans and the love trade which is present in China India and the Middle East. Sixty to seventy percent of all gold demand is based on love trade which is [read more]

US Stocks Closes Mostly Lower But Nasdaq Buck The Trend

U.S. stocks closed mostly lower Thursday as disappointment over weak retail sales which fell by 1.2% in December the largest singlemonth decline since 2009 and well below the flat growth expected by economists. Premarket risen ahead of those numbers amid optimism over U.S.China trade talks following reports that President Donald Trump may extend the tariff truce with Beijing by another 60 days if a trade deal appears near. Consumer staples and financial sectors were the biggest losers both falling more than 1%.Senate Majority Leader Mitch McConnell said Trump will sign a spending [read more]

Oil Price Higher On Progress Of China-US Tariff Talks

Oil prices rose on Thursday buoyed by hopes that potential progress in the latest SinoU.S. tariff talks would improve the global economic outlook.U.S. West Texas Intermediate (WTI) crude futures were at $54.15 per barrel at 0204 GMT up 25 cents or 0.5 percent from their last settlement. They closed up 1.5 percent on Wednesday having touched their highest since Feb. 5 at $54.60 a barrel.International Brent crude oil futures were up 29 cents or 0.5 percent at $63.90 a barrel. [read more]

Gold Gain In US Market After Fed Signal Pause On Rate Hike.

Gold gains on Fed rate pause signals strong equities limit gainsGold prices rose on Wednesday on more signs the U.S. Federal Reserve will likely be patient on further interest rate rises but rallying global equities kept the metals gains in check.Spot gold was up 0.04 percent at $1310.99 per ounce as of 156 p.m. U.S. gold futures settled up $1.10 at $1315.10 per ounce.Federal Reserve officials have indicated that they will support a pause in interest rate hikes from the U.S. central bank to [read more]

Nasdaq 4th Days Higher Closed

U.S. stocks closed higher Wednesday trimming gains but with the S&P 500 and Nasdaq rising for a fourth straight session after President Donald Trump said he may let a China tradedeal deadline slide if the two sides were making enough progress. Meanwhile Chinese President Xi Jinping is expected to meet key members of the U.S. delegation on Friday.A third day of bilateral trade negotiations were under way in Beijing with Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer expected Thursday for more highlevel discussions. Goverment shutdown Trump said a second [read more]

OPEC Urge Member Nations To Keep To Production Cut Commitment

Oil prices rose on Wednesday as producer club OPEC said it had cut supply deeply in January and as U.S. sanctions hit Venezuelas oil exports.U.S. West Texas Intermediate (WTI) crude oil futures were at $53.66 per barrel at 0530 GMT up 56 cents or 1.1 percent from their last close.U.S. prices were also supported by a report from the American Petroleum Institute (API) on Tuesday showing that crude inventories fell by 998000 barrels in the week to Feb. 8 to 447.2 million compared [read more]

The Consensus On Gold Is That Interest Is Back

The consensus on gold is that interest is back.Experts on the Ultimate Gold Panel at the Vancouver Resource Investment Conference unanimously agreed that sentiment on the precious metals has turned more bullish.With central banks like China buying gold for the first time in years and funds that were previously not interested in gold starting to add the metal to their portfolio investors have been showing more confidence.Frank Holmes CEO of U.S. Global Investors noted that gold is benefiting from the [read more]

US Stock Closed At 2019 High

U.S. stock indexes closed at their highest levels for 2019 on Tuesday after lawmakers reached a tentative deal to prevent a government shutdown. Democratic and Republican lawmakers reached a deal late Monday to avert another government closure after GOP negotiators agreed to a bordersecurity deal that will involve far less money for an extension of the southern U.S. border wall than President Donald Trump has been demanding.Trade Optimism grew over a potential trade deal between the U.S. and China negotiations entered a second day in Beijing with Treasury Secretary Steven Mnuchin and U.S. [read more]

$60-$70 Is Fair Price For Oil

$60 to $70 is a fair price for a barrel of oil Egypts petroleum minister saysThere is a fair price for a barrel of oil and OPEC and its nonOPEC partners are close to achieving it through their deal to cut production according to Egypts Petroleum Minister Tarek ElMolla.It is in the range between $60 and $70 a barrel somewhere in this bracket of price El Molla told CNBC on Sunday.OPEC and nonOPEC producers including Russia agreed to cut production [read more]

Gold Staying Above $1,300 But US Dollar Is Highest Level Since December

Gold prices covering some losses from Monday losses as a leading dollar index traded at its highest levels since December cutting demand for investors buying precious metals using other currencies.It appears that facing growing uncertainty investors are once more seeking refuge in the US dollar concerns regarding the Chinese economy weak growth and political tension in the Eurozone Brexit and lingering global trade tensions are weighing in on market sentiment and the dollar is once more sought after as a safe heaven asset. [read more]

US Stock Closed Lower Trade Talk And Shutdown Loomed

U.S. stocks closed mostly higher Monday after a choppy session as a round of U.S.China tariff negotiations in Beijing commenced and as the threat of another partial government shutdown loomed.Trade negotiations between the U.S. and China began Monday with workinglevel talks in Beijing while Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer are due to arrive Thursday for more highlevel discussions. The lingering uncertainty around a trade resolution would only highlight that a 12monthlong negotiation between the worlds largest [read more]

GBPUSD Back Below 1.3 With Less Than 48 Days To BREXIT

At the Bank of Englands first meeting of the year Governor Mark Carney tapped into the Brexit conundrum facing pound traders the currencys next move is likely to be a big one.Sterling has pulled back this month to hover below $1.30 after rallying in January as no solution is yet in sight to avoid Britain crashing out of the European Union in less than 48 days. A resolution could move the currency as much as 20 percent in either direction with traders unwilling to put money on [read more]

Gold Price Higher In Coming Months, Kitco

There is a lot of risk on the horizon and investors will hedge against that uncertainty driving gold prices higher in the coming months according to one longstanding gold bull.Golds spec positioning shows that there is plenty of dry powder for market participants to extend their net long positioning Metal Bulletin precious metals analyst Boris Mikanikrezai wrote in a Seeking Alpha post on Sunday. Gold has proved to be very resilient so far this year performing well despite a risk rally in equities noted [read more]

IMF Say Oil Has Not Fully Recover From 2014 Shock

Oil exporters have not fully recovered from the dramatic oil price shock of 2014 the head of the International Monetary Fund said on Saturday and she cautioned against spending money on white elephant projects.With revenues down fiscal deficits are only slowly declining despite significant reforms on both the spending and revenue sides including the introduction of VAT and excise taxes Christine Lagarde the managing director of the IMF told a conference in Dubai.This has led to a sharp increase in public debt from 13 percent [read more]

US oil heads to China, but it's too early to declare victory in the trade war

The first U.S. oil shipments to China in months will reach their destinations just days from now punctuating a pledge by President Donald Trump in December that China would begin buying more American products despite an ongoing trade battle. The shipments which left ports in Texas in late December are not a clear sign of U.S. victory however. They are among a handful bound for China or points near it currently as a March negotiating deadline on a new trade deal draws near. And the amount of U.S. oil being shipped to [read more]

Fed's Powell reveals what he thinks is the biggest challenge over the next decade

Sluggish productivity and widening wealth gap are the biggest challenges facing the U.S. over the next decade Federal Reserve Chairman Jerome Powell said Wednesday. Speaking at a town hall in Washington D.C. to a group of educators the central bank leader said his greatest economic fears lie outside the Feds purview. Specifically he called for more aggressive policies to address income inequality. Wages at the middle and lower levels have grown much more slowly than those at the higher end he said. We want [read more]

What To Expect For Today US January NFP

Whilst the NFP was set up to be the biggest event of the week it is safe to say the Fed stole its thunder. The Feds dramatic Uturn on Wednesday could now overshadow often most highly anticipated data release of the month.The dollar dived lower and US indices charged higher breathing a sigh of relief at the Feds more dovish stance. Today the dollar remained steady and Wall Street opened moderately higher as the market continues digesting the Feds move or lack thereof. [read more]

World Gold Council: Central Bank Brought 651.5 Tonnes Of Gold In 2018, Largest Increase Since 1971

Central banks renewed appetite for gold is here to stay as official purchases are expected to provide a solid longterm base for the gold market according to one executive at the World Gold Council (WGC).In an Telephone interview with Kitco News Juan Carlos Artigas director of investment research at the World Gold Council said that although central bank gold purchases hit their second highest level in history it is a trend they have seen develop for the last nine years.Central bank demand demonstrates that gold is a relevant asset around the [read more]

US Stocks Closed Higher, S&P 500 Has Best January Ever Since 1987

U.S. stocks closed mostly higher Thursday with the S&P 500 notching its best January in over three decades after the Federal Reserve signaled that rate increases are on pause and that its next policy move will depend on economic data.For the month the S&P 500 climbed 7.9% for its best January since 1987 while the Dow rose 7.2% its best January since 1989. The Nasdaq had its best January since 2001 on the back of a 9.7% monthly gain.The Fed said it would be patient with interest rates at the conclusion [read more]

Kitco,

Although off its daily peak gold prices are holding near fresh eightmonth highs as Federal Reserve Chair Jerome Powell signaled that he is in no rush to raise interest rates anytime soon.At one point gold prices were up nearly 1% on the day reacting to Powells relatively dovish comments. Although Powell kicked off the central banks first press conference of the year by saying that the economy is in a good place he soon added that the growth is slower than last year. [read more]

Powell Says Economy Will Make Back Most Of Shutdown Effect In The Next Quarter

Fed Chair Powell says economy will make back most of shutdown effect in the next quarterFederal Reserve Chairman Jerome Powell says if there isnt another shutdown the U.S. economy will recover most of the lost growth in the second quarter.The nonpartisan Congressional Budget Office estimated in a report that the partial government closure cost the economy $11 billion with $3 billion permanently lost.If there were going to be a permanent or a lasting effect lets say it would be from a [read more]

Fed's Soft Tone Send Stock Markets Higher

Investors probably werent surprised when the Federal Open Market Committee decided not to raise the target federal funds rate on Wednesday however a softening of language helped cause a rally for stocks.Federal Reserve Chairman Jerome Powell said during a news conference that the economic signals for further increases in interest rates had weakened and that the central bank might adjust or stop the reduction of its balance sheet which has been taking liquidity from financial markets.In its policy statement the Federal Open [read more]

Bitcoin Traded Below $3,400

Bitcoin dips below $3400 on track for 5th straight losing sessionBitcoin prices extending losses from the previous session and putting the cryptocurrency on track for its fifth consecutive losing session. A single bitcoin BTCUSD is $3406 down since Monday Earlier in the session. The cryptocurrency made a new low for the year at $3344.80.Theres just no catalyst to push it bitcoin higher at the moment said Charles Hayter cofounder of CryptoCompare. The macro backdrop isnt great and the ETF decision has dampened [read more]

UK Parliament Voted, Rules Out Hard BREXIT

British Parliament rules out hard Brexit votes to replace Irish backstop with alternativeThe British Parliament on Tuesday passed an amendment to rule out a nodeal or hard Brexit as well as an amendment to replace the Irish backstop proposal with an alternative arrangement. The outcome of the parliamentary vote is not legally binding for the government. The nodeal amendment passing indicates that a nodeal Brexit scenario continues to be the least likely supporting market expectations.Prime Minister Theresa May said she would take this mandate to obtain legally binding changes in the European Union [read more]

US Companies Earning Big Day But Stocks Closed Lower

The S&P 500 and the Nasdaq closed lower Tuesday as investors sorted through a fresh batch of earnings reports and awaited clarity from the Federal Reserve on its monetary policy plans. However the Dow bucked the broader weakness buoyed by Pfizer and 3M.USChina Trade Investors focused on comments from companies to glean clues on how slowing global growth and U.S.China trade tensions will affect American corporations profits this year after Apple 3M and Caterpillar are saying theyre feeling the pain. The specter of elevated trade tensions between Beijing and Washington mounted as the [read more]

Stronger Pound Likely For Today BREXIT Votes

Heres What FX Traders Should Watch as May Faces Brexit Votes Key amendments aim at stopping no deal fixing Irish backstop Pound to hit highest level in six months if Cooper plan passesOf all the permutations from another round of Brexit votes today the most likely result for markets is a stronger pound.The currency will climb to levels not seen in six months if the U.K. Parliament votes to accept what has come to be known as the CooperBoles amendment which seeks to defer Britains departure from the European [read more]

A Tsunami Of Earning Await The Market This Week

Stockmarket investors are bracing for a frenzied week of earnings in what could be a crucial stage in a potent recovery from last years lows for major equity indexes.In the week 113 of the 505 S&P 500 SPX companies representing a little more than onefifth or 22% of the broadmarket benchmarks constituents and 13 of the 30 components of the Dow Jones Industrial Average DJIA are slated to report quarterly results.It all amounts to the busiest week of earnings season.Indeed Thursday alone will see about three dozen S&P 500 companies reporting [read more]

US Stock Closed Lower, Here's Why

U.S. stocks closed lower Monday in the wake of disappointing earnings from bellwether Caterpillar Inc. as investors turned cautious at the start of a busy week packed with earnings economic data a Federal Reserve meeting and a new round of U.SChina trade talks.THE FED Wariness seeped in the market ahead of the Fed meeting the central bank will convene a twoday meeting on Tuesday with no change in key interest rates expected. Attention is instead likely to focus on a news conference afterward with Fed Chairman Jerome Powell [read more]

US Stock Closed Lower, Here's Why

U.S. stocks closed lower Monday in the wake of disappointing earnings from bellwether Caterpillar Inc. as investors turned cautious at the start of a busy week packed with earnings economic data a Federal Reserve meeting and a new round of U.SChina trade talks.THE FED Wariness seeped in the market ahead of the Fed meeting the central bank will convene a twoday meeting on Tuesday with no change in key interest rates expected. Attention is instead likely to focus on a news conference afterward with Fed Chairman Jerome Powell [read more]

The Week Ahead With Full Earning Calendar, 28 Jan-01 Feb

This week is gearing up to be a busy one with events that have the potential to move markets in a big way. Earnings season the Fed meets and the monthly U.S. NonFarm Payroll report will be released. Trade tensions between the U.S. and China and fears of an economic slowdown have kept investors on edge. Chinese Vice Premier Liu He will be visiting Washington on January 30 for two days of trade negotiations with his American counterparts. If a trade deal is not reached by the March 1 deadline the U.S. [read more]

George Soros says the US and China are in a cold war that 'threatens to turn into a hot one'

Liberal billionaire George Soros on Thursday warned that the U.S. and China the worlds two largest economies are locked in a cold war that could soon turn into a hot one. His comments come at a time when investors are increasingly concerned about a serious economic downturn with a longrunning U.S.China trade war souring business and consumer sentiment. Referencing Trumps decision to label China as a strategic competitor in late 2017 Soros said this approach was too simplistic. An effective policy towards China cant be reduced [read more]

No-Deal Brexit Risk Recedes as Calls Grow to Delay the Divorce

The risk of a nodeal Brexit appears to be receding after calls for a delay to the U.K.s exit from the European Union won powerful backing in London and other EU capitals. The pound rose.Senior figures in the French and German governments said theyd be open to extending the Brexit deadline as momentum built for a delay in the U.K. Parliament.Yet the issue remains toxic for Theresa May. The U.K. prime minister is caught in the crossfire between proEU members of her Conservative Party who are seeking to force her to postpone Brexit and staunch euroskeptics who are threatening [read more]

Trump delays State of the Union Address until shutdown ends

U.S. President Donald Trump said in a late night Tweet on Wednesday that he would delay a State of the Union address until the government shutdown was over responding to House Speaker Nancy Pelosis move to obstruct his plans for the speech. Earlier in the day Democratic leaders in the House of Representatives floated the idea of ending the partial government shutdown by giving Trump most or all of the money he seeks for security along the Mexican border but for items other than the wall he wants. As a shutdown that has left 800000 [read more]

Asian stocks trade mixed amid uncertainty over US-China trade talks

Investors in Asia traded cautiously Wednesday afternoon amid concerns over the state of ongoing U.S.China trade negotiations after reports emerged that the White House canceled a trade planning meeting with Beijing this week.The mainland Chinese markets closely watched in relation to the trade war between Beijing and Washington saw early gains but eventually lost steam. The Shanghai composite saw slight gains while the Shenzhen component and Shenzhen composite both saw fractional losses by the end of the morning session. Hong Kongs Hang Seng index however traded a touch higher.Officials from the Chinese finance ministry said Wednesday that [read more]

China says will step up fiscal spending this year to support economy

BEIJING (Reuters) China will step up fiscal spending this year to support its economy focusing on further cuts in taxes and fees for small firms finance ministry officials said on Wednesday. Mounting pressure on the worlds secondbiggest economy pushed growth last year to its lowest since 1990 even as Beijing stepped up stimulus measures and spurred banks to lend more. The government may unveil more fiscal stimulus during the annual parliamentary meeting in March including bigger tax cuts and more spending on infrastructure projects economists say. Chinas fiscal spending rose 8.7 percent [read more]

London Stock Exchange Trading Tech to Power New Hong Kong Crypto Exchange

LSEG Technology the technology solutions provider for the London Stock Exchange Group has announced that its matching engine will be used to power a new Hong Kongbased digital assets exchange. The news was announced in an LSEG Technology press release Jan. 22.The forthcoming digital assets exchange dubbed AAX comes from blockchain and cryptofocused fintech firm ATOM Group. The platform will reportedly become the first digital assets exchange to use LSEG Technologys sodubbed Millennium Exchange which is a low latency and scalable matching engine already reportedly in use at traditional exchanges such as LSE [read more]

Trump won't soften hardline on China to make trade deal: advisers

WASHINGTON (Reuters) As much as U.S. President Donald Trump wants to boost markets through a trade pact with China he will not soften his position that Beijing must make real structural reforms including how it handles intellectual property to reach a deal advisers say. Offering to buy more American goods is unlikely by itself to overcome an issue that has bedeviled talks between the two countries. Those talks are set to continue when Chinese Vice Premier Liu He visits Washington at the end of January. The United States accuses China of stealing intellectual [read more]

BOJ cuts inflation view, keeps stimulus as risks to economy heighten

TOKYO (Reuters) The Bank of Japan cut its inflation forecasts on Wednesday and warned of rising risks to the economy from faltering global demand further pushing back policymakers yearslong efforts to foster durable growth.As widely expected the BOJ retained its ultraeasy monetary settings at its policy review leaving Japan some way off from exiting a sweeping stimulus program begun in 2013. The central bank also maintained its view that Japans economy the worlds third largest will continue to expand at a modest pace. Yet the rising pressure on global growth from a trade war [read more]

WSJ:

US officials debate lifting tariffs on China to get a trade deal WSJTreasury Secretary Steven Mnuchin was considering a proposal to lift some or all U.S. tariffs on Chinese goods in a bid to push trade talks between the U.S. and China further along sources tell the newspaper.Shares spiked when the news broke with the Dow Jones Industrial Average rising 1 percent before settling back.Both countries have slapped tariffs on each others goods in an escalating trade dispute.U.S. officials are reportedly debating lifting tariffs on [read more]

DJIA On 3rd Day Win Streak

What drove the marketStocks extended their win streak to three days Thursday after The Wall Street Journal reported that the Trump administration was debating whether to ease tariffs on Chinese imports in a bid to calm markets and ease tensions with Beijing. U.S. officials are considering lifting some tariffs on Chinese products in an effort to elicit more concessions from China for a bilateral trade deal and to stabilize the financial markets the Journal reported.Market was focusing on Q4 earning reportsfor banking industry performance after Morgan Stanley announced earnings and revenue that fell [read more]

Theresa May Lost Big On BREXIT Parliament's Vote, Here Is What Next For UK

Theresa May lost big on her Brexit deal vote heres what could happen nowU.K. leader Theresa May has seen her Brexit withdrawal deal with Europe rejected by the U.K. Parliament.The 230 vote defeat is thought to be the largest in U.K. political history.Sterling initially fell before rising following Mays stunning defeat.Defeat for the U.K. government over its proposed Brexit deal has thrown the country into yet more political uncertainty.U.K. Prime Minister Theresa May had placed a motion before lawmakers in the lower house of Parliament [read more]

S&P And NASDAQ Closed Above Major Psychological Level

What drove the marketU.S. stocks snapped a twosession skid Tuesday with the S&P 500 and the Nasdaq finishing above psychologically important levels for the first time in a month as a robust tech rally offset lackluster results from major U.S. banks including Dowcomponent JPMorgan Chase & Co. earnings report which showed the financial behemoth delivering results that fell below analysts estimates for both profit and revenue. The tepid earnings come on the heels of Citigroups weakerthanexpected results which were fueled by a poor showing in fixedincome and currency trading and may raise concerns [read more]

Crucial Day For BREXIT: This Is What Will Happen When MPs Arrive At Parliament

Its the day of reckoning in Westminster as MPs prepare to vote on whether to accept or reject Theresa Mays Brexit deal.In a day likely to be filled with political jargon positioning and spin Sky News takes you clearly through how the runup to the meaningful vote will unfold.First its Mays sitdown with her cabinet from around 9amWell before MPs arrive in parliament Mrs May will chair the weekly Tuesday meeting of her cabinet.Here all of her most senior ministers will assemble to discuss issues [read more]

US Stock Closed Lower Monday On Slowing China Trade Data Underscored Global Economic

What drove the marketU.S. stocks closed lower Monday as weakerthanexpected China trade data sparked fresh fears of a global economic slowdown. Stocks took a hit after data showed Chinas trade growth slowing which underscored worries of the global economic engine losing steam. And Chinas trade surplus with the U.S. soared to a record of $323.32 billion in 2018 even as the two countries continue to try to resolve their trade conflict.Corporate results were also in the spotlight as fourthquarter earnings season got under way.A new earnings [read more]

The Factor Gold Investors Need To Know For Long Term Investment

SummaryGolds fear factor and currency components remain positives for gold.An enticing prospect is the potential for a China stock market rebound.This would assure the longerterm strength of golds turnaround.Two of golds most important drivers namely the fear factor and the currency component. With both factors in golds favor in recent weeks the nearterm outlook for gold has been positive for a while now. But theres another factor which is often overlooked by investors and it also carries a potentially bullish implication [read more]

Different Of $10 Between WTI And Brent Crude Oil Price

Oil prices edged up on Monday supported by ongoing supply cuts from producer club OPEC and Russia and by a drop in U.S. drilling activity.International Brent crude oil futures were at $60.75 per barrel at 0040 GMT up 27 cents or 0.5 percent from their last close.U.S. West Texas Intermediate (WTI) crude futures were up 22 cents or 0.4 percent at $51.81 a barrel.Economic research firm TS Lombard said oil prices are likely to stabilize around current levels and quite possibly [read more]

The Week Ahead 14-18 Jan 2019

It is a busy week as US earnings season kicks off with the usual round of updates from the big US banks. This come as the market managed to eke out gains for the second week in a row. Both the S&P 500 and Dow were more than 2% higher while the techheavy Nasdaq rose more than 3% to cap off the week.Earnings season is back. Investors can expect a busy week of big bank earnings with Citigroup (C) kicking things off before the bell on Monday. Media behemoth Netflix (NFLX) [read more]

Oil Price Rise For 10th Straight Days

Crude prices gained modestly Friday helped by a weaker dollar putting the U.S. benchmark on track for a 10day winning streak that would be its longest since December 2016.A move higher in the last few minutes of trading on Thursday allowed oil futures to notch a ninth straight session of gains the longest winning streak in about nine years for the U.S. benchmark and in more than 11 years for global crude prices.The market gained after Federal Reserve Chairman Jerome Powell stressed again Thursday that the central bank is flexible and [read more]

FOMC Minutes: Fed Can Afford To Be Patient About Rate Hike

Fed can afford to be patient about future rate hikes FOMC minutes showFederal Reserve officials acknowledged that the policy path ahead is less clear after approving an interest rate hike at their December meeting.Minutes released from the meeting showed the rate hike came with reluctance from a few members who thought the lack of inflationary pressures argued against another increase.Federal Reserve officials acknowledged that the policy path ahead is less clear after approving an interest rate hike at their most recent meeting.Minutes released Wednesday from the Federal [read more]

Indexes Ended High, DJI & S&P 500 Are Moving Closer To Exit Correction Level

What drove the marketU.S. stocks closed higher for a fourth session Wednesday with the S&P 500 in its longest winning streak since Sept. 14 on reports that the U.S. and China have narrowed differences over trade. Bloomberg reported that cited White House sources saying President Donald Trump was eager to see a China deal helped to drive gains for stocks. However ratings company Fitch warned that the U.S. could lose its tripleA sovereign credit rating if government dysfunction leads to brinkmanship over the countrys debt limit. The warning came as a partial U.S. [read more]

Oil Price Higher On Hope Of US-China Talk

picture by JeanPaul Pelissier ReutersOil prices surge on hopes of successful USChina trade talksBoth Brent and U.S. crude futures saw gains.Both crude price benchmarks had already gained more than 2 percent in the previous session.Oil prices rose on Wednesday extending gains from the previous session on hopes that Washington and Beijing can resolve a trade dispute that has triggered a global economic slowdown.U.S. West Texas Intermediate (WTI) crude oil futures were at $50.29 per barrel as at 0131 up [read more]

Now That The Bull Are Back, It May Be Time To Buy Stock Again

And just like that the bulls came charging back.All it took was one stellar economic data point to change the stock markets mood and punt the indexes higher. But even before the robust jobs numbers exorcised the demons strategists had started to predict that the market is gearing up for a comeback given the depth of the recent selloff.We expect a bear market rally to develop over the coming weeks and we expect a new bull market to develop over the coming months [read more]

US Stock Closed Higher Lead By Apple, Boeing & Real Estate

What drove the marketStocks closed higher for a third straight session Tuesday as optimism over U.S.China trade talks bolstered sentiment and nudged investors toward assets perceived as risky such as equities. Gains were led by real estate and internet stocks while Apple Inc. and other megacap tech companies also helped to propel the market higher.USChina Trade TalkFacetoface negotiations between U.S. and Chinese officials entered a second day Tuesday with hopes rising that the talks will bear fruit after Chinese President Xi Jinpings top policy aide Premier Liu He made [read more]

Saudi Arabia Eyeing Oil Price At $80.00

Hoping to drive oil prices back up to $80 per barrel Saudi Arabia is preparing deeper production cuts this month.Saudi Arabia plans on lowering oil exports to 7.1 million barrels per day by the end of the month according to the Wall Street Journal. The Saudi budget does not breakeven unless Brent crude prices average in the mid$80s per barrel vastly higher than todays spot price. The WSJ reports that Saudi Arabia plans on cutting exports 800000 bpd below November levels which appears to [read more]

US Stock Closed Higher Monday, Continues Friday Rally

U.S. stocks on Monday closed higher building on Fridays powerful rally as investors watched for further signs of a thaw in the protracted trade dispute between the U.S. and China a titfortat clash that has weighed on investor sentiment.What drove the marketSenior officials from China unexpectedly showed up for negotiations between Beijing and their counterparts in Washington in an effort to resolve longstanding trade disagreements that have triggered uncertainty in global markets.Chinese Vice Premier Liu He a top economic adviser to Chinese President Xi Jinping was among attendees sparking [read more]

Yuan Shrugs Off Policy Easing to Head for Biggest Gain in Month

Chinas yuan strengthened the most against the dollar in a month unperturbed by the central banks monetary easing amid signs of an economic slowdown.The Chinese currency was up 0.38 percent at 6.8452 per dollar as of 139 p.m. local time its biggest gain since Dec. 4. Thats also its strongest level in nearly five weeks. The currency has now advanced nearly 1 percent since midDecember. The greenback meanwhile has weakened against most major currencies falling to a more than twomonth low Monday on prospects the Federal Reserve may take a slower approach to [read more]

More stock market carnage could force Trump to make a China trade deal, expert says

The U.S. and China are unlikely to reach a full deal at the end of their 90day ceasefire on titfortat tariffs but a sustained decline in markets will push President Donald Trump to close a deal an expert told CNBC on Monday. Washington and Beijing are meeting for trade negotiations at the vice ministerial levelin the Chinese capital on Monday and Tuesday and markets have been keeping a close watch on those developments amid growing concerns about Chinas slowing economy and its impact on U.S. businesses. [read more]

Chinese tech investors flee Silicon Valley as Trump tightens scrutiny

New Trump administration policies aimed at curbing Chinas access to American innovation have all but halted Chinese investment in U.S. technology startups as both investors and startup founders abandon deals amid scrutiny from Washington. Chinese venture funding in U.S. startups crested to a record $3 billion last year according to New York economic research firm Rhodium Group spurred by a rush of investors and tech companies scrambling to complete deals before a new regulatory regime was approved in August. Since then Chinese venture funding in U.S. startups has slowed to a trickle Reuters interviews [read more]

Stock Futures Rise After House Passed Spending Bill Package

U.S. stockindex futures ticked higher Friday as the U.S. House of Representatives passed legislation in an effort to end a government shutdown and Chinarelated reports supported investor sentiment.S&P 500 Index futures contracts expiring March rose as much as 1 percent after the underlying gauge slumped 2.5 percent as a measure of U.S. manufacturing plunged the most in a decade and Apple Inc. cut its profit forecast. Futures contracts on the Dow Jones Industrial Average and Nasdaq 100 gained as much as 0.8 percent and 1.1 percent respectively.The markets mistaken Apple problems [read more]

Gold Analysts Bullish Outlook In 2019

Gold prices are receiving bullish outlook in 2019 from analysts across the industry. Many are seeing unwinding of the U.S. dollar continuing trade war with China economic uncertainty and the demandsupply ratio as working in favor of gold this year.The world is awash with dollars at a time when markets act as if there is a shortage. When the truth emerges the dollar has the potential to fall substantially against other currencies leading to a rise in the price of gold.The strength of [read more]

Two Major Events This Friday

With stocks already off to a rough start in 2019 shell shocked investors face a pair of potentially makeorbreak events on Friday the allimportant December jobs report and a public appearance by Federal Reserve Chairman Jerome Powell.Both come as attention is focused on the Fed amid growing doubts over its ability to stick to its forecast of two rate increases next year without further stoking concerns over a potential recession.We look for Powell to soften his tone and indicate that the Fed will be flexible in adjusting their economic and [read more]

 Democrats to push shutdown halt that Trump unlikely to accept

WASHINGTON (Reuters) In their first action in control of the U.S. House of Representatives Democrats plan to adopt a bill on Thursday to end a federal shutdown without funding a Mexican border wall trying to firmly fasten blame for the 13dayold closure on President Donald Trump and his Republicans.Passage of the bill by the new Democratic majority was expected to occur shortly after Nancy Pelosi is elected speaker of the House returning the liberal from San Francisco to one of Washingtons most powerful posts for a second time.But Senate Majority Leader Mitch McConnell said [read more]

 Apple cuts sales forecast as China sales weaken; iPhone pricing in focus

SAN FRANCISCOBENGALURUSHANGHAI (Reuters) Apple Inc on Wednesday took the rare step of cutting its quarterly sales forecast with Chief Executive Tim Cook blaming slowing iPhone sales in China whose economy has been dragged down by uncertainty around U.S.China trade relations.The news which comes as a spotlight grows on Beijings attempts to revive stalling growth sent Apple shares (NASDAQAAPL) tumbling in afterhours trade hammered Asian suppliers and triggered a broader selloff in global markets.The revenue drop for the justended quarter underscores how an economic slowdown in China has been sharper than many expected [read more]

Yen surges, Aussie slides as growth fears trigger FX 'flash crash'

The yen soared versus its peers on Thursday breaking through key technical support levels as heightened global growth risks pushed investors into safe havenassets in moves exacerbated by thin holiday volumes.Charging the risk averse mood was a rare revenue warning from Apple Inc (OAAPL) which added to worries about fading global demand.Apple cut its sales forecast for its latest quarter citing slowing iPhone sales in China. That followed a series of surveys that showed factory activity weakening across much of Europe and Asia in December.Market participants fled to the safety of the highly liquid [read more]

Why this year suddenly fell apart on Wall Street, and what's ahead

Everything was going right for the stock market until Oct. 3. Then everything went wrong. Up to that point the Dow Jones Industrial Average had been up about 8 percent for the year a solid gain if not quite as gaudy as the year before. More importantly the fundamental backdrop was solid The economy was growing at a better than 3 percent clip corporate profits were around their highest levels in eight years and the Federal Reserve seemed in control of monetary policy and interest rates. [read more]

Romney attacks Trump, saying he causes dismay around the world

Mitt Romney the former Republican presidential candidate and incoming U.S. senator from Utah sharply criticized President Donald Trump and suggested the U.S. leader had caused dismay around the world. In a Washington Post essay published on Tuesday evening Romney criticized a number of Trumps actions in December. The appointment of senior persons of lesser experience the abandonment of allies who fight beside us and the presidents thoughtless claim that America has long been a sucker in world affairs all defined his presidency [read more]

The Week Ahead 02-04 January 2019

After the roller coaster that was last week this week is off to a much quieter start. We dont expect that the volatility is over but any sort of break is nice.The government shutdown is still short enough to not have major effects to the broader economy but as it drags on though it will start to show up in the data. Already some new homes sales are in peril.The political machinations over the shutdown and any new developments in the trade arena are likely [read more]

Oil Lower This Thursday In Asia

Singapore Crude oil futures were lower during midmorning trade in Asia Thursday despite a draw reported in US crude stocks as growing supply concerns elsewhere coupled with poor economic outlook continued to exert downward pressure on prices.US crude supply declined for a third consecutive week amid continued strong export activity and robust refined product demand US Energy Information Administration data showed Wednesday.For the week ended December 14 US crude stocks were down 497000 barrels to 441.46 million barrels EIA data showed. Analysts [read more]

BoJ Kept Short-Term Rate Unchanged At -0.1%

The Bank of Japan kept monetary policy steady on Thursday and stuck to its optimistic view on the economy even as simmering SinoU.S. trade tensions and volatile financial markets cloud the outlook for global growth.In a widely expected move the BOJ maintained its shortterm interest rate target at minus 0.1 percent and a pledge to guide 10year government bond yields around zero percent.The central bank also left unchanged its forward guidance adopted in July that pledges to keep interest rates extremely low for [read more]

Interest Rate Up As Expected, Press Conference Not As Dovish As Market Was Hoping

U.S. stocks fell sharply after the Fed announced its fourth interestrate increase of the year hiking the federal funds rate by 25 basis points to a range of 2.25% to 2.5% and deepened those losses during a press conference where Powell explained the decision and accompanying forecasts.The policy statement was perceived as slightly more dovish than the central banks previous stance as it modified its language to suggest it may be less aggressive in raising rates next year while a survey of FOMC members shows the median voter expects two more rate hikes [read more]

All Eyes On This US Wednesday Fed Meeting, The Bull Are Hoping Some Dovish Words From Fed's Chair Powell

All eyes will be on the Federal Reserve meeting midweek as bulls pin their hopes on some dovish words if not a pause in the ratehike playbook to lure buyers back in to this reeling stock market.Its almost Christmas after all.But one way or another there will be fireworks according Chris Puplava CIO at Financial Sense Wealth Management If the Fed turns a deaf ear to the market and does not signal a pause in rate hikes we are likely to see markets in the U.S. and globally continue to sell off and [read more]

53% of S&P500  Companies Are In Bear Territory Right Now.

There are some BIG names in bear territory right now. And the list of bearmarket stocks keeps growing every day as the Dow Jones Industrial DJIA the S&P 500 SPX and the Nasdaq Composite COMP  mark their worst start to December trading since 1980.A correction is typically defined as a 10% drop for a stock or an index from a recent peak while a bear market is a 20%plus decrease. Data supplied by FactSet show that as of the end [read more]

Dow rises in wobbly session as Wall Street digests latest US-China trade developments

Stocks seesawed on Thursday while investors digested new developments in the ongoing U.S.China trade war and Wall Streets volatile week approached its end.The Dow Jones Industrial Average closed 70.11 points higher at 24597.38 after alternating between gains and losses throughout the day. The S&P [read more]

Apple to invest $1 billion in new Texas campus

APPLE will invest $1 billion in a new campus in Austin Texas the company announced on Thursday.The 133acre campus will be located in North Austin and will accommodate an initial 5000 employees with capacity for 15000 employees in total. The new campus will be located less than one mile from Apples existing Austin facilities and will house a range of [read more]

Oil prices inch up amid US stockpile drop, signs of easing trade tensions

Oil prices edged up on Thursday buoyed by a draw down in inventories in the U.S. and by signs of easing trade tensions between Washington and Beijing.Oil prices have also been supported by OPECled supply curbs announced last week although gains have been muted after the producer group lowered its 2019 demand forecast.U.S. West Texas Intermediate (WTI) crude futures were [read more]

Dow rises more than 150 points on trade-deal hopes, but closes well off session highs

The Dow Jones Industrial Average rose 157.03 points to 24527.27 led by gains in Caterpillar. The S&P 500 climbed 0.6 percent to close at 2651.07 as the consumer discretionary sector outperformed. The Nasdaq Composite jumped 1 percent to 7098.31 as Facebook Amazon Netflix and Googleparent Alphabet rose.The major averages came off their [read more]

European markets close higher but sterling hovers near 20-month lows

European stocks rallied Tuesday as the worlds two largest economies sought to push forward with the next stage of trade talks.The panEuropean Stoxx 600 was up around 1.8 percent during deals with all sectors and major bourses in positive territory. [read more]

US has a 'concerted strategy' to push allies to reject Huawei's 5G equipment

The United States is pushing its allies to shut out Chinese tech giant Huaweis 5G networks due to national security concerns as the highspeed technology is set to play a critical role in the 21st century a Eurasia Group expert said Tuesday.Japan Washingtons close ally will reportedly stop buying Huawei and ZTE network equipment for government offices and its military forces. Huawei has also been excluded from providing technology [read more]

Apple vs Qualcomm: How can one US company block another in China?

The ban of some Apple iPhones in China shows that intellectual property rights are still determined by national borders.Qualcomm announced Monday that a court in China the Fuzhou Intermediate Peoples Court had granted the chipmakers request for two preliminary injunctions against four of Apples Chinese subsidiaries for patent infringement. [read more]

Stocks are on track for the worst year in a decade. Four experts weigh in on what 2019 will bring

Stocks saw a huge reversal on Monday as investors are trying to sort out which of the litany of market factors will have the biggest impact on their portfolios in 2019. Fears of slowing global economic growth a hiking Fed and peak earnings have all weighed on Wall Street in recent months putting the S&P 500 on track for its worst annual performance since 2008. Four experts weigh in on what theyll be keeping an eye on as a volatile 2018 draws [read more]

Verizon says 10,000 employees have accepted its buyout offer

Verizon said Monday more than 10000 employees or about 7 percent of its global workforce have accepted the companys buyout offer first announced in September as a costcutting measure. Verizon previously announced a goal to save $10 billion in cash by 2021.The program offered eligible employees and managers up to 60 weeks of salary bonus and benefits [read more]

Dow erases 500 point drop and closes higher in another wild session on Wall Street

Stocks rose on Monday erasing sharp losses from earlier in the day as shares of technology companies posted strong rebounds across the board.The Dow Jones Industrial Average closed 34.31 points higher at 24423.26 erasing a 507point drop. The S&P 500 rose 0.2 percent to 2637.72 while the techheavy Nasdaq Composite jumped 0.7 percent to 7020.52. [read more]

Abu Dhabi Ports hopes for 'huge' trade boost from deal with China's Cosco

The CEO of Abu Dhabi Ports said that the company remains good allies of all countries as it embarks on an agreement that will see its flagship port become a hub in Chinas widereaching belt and road initiative.Mohamed Al Shamisi told CNBCs Dan Murphy over the weekend that his [read more]

Dow futures drop nearly 200 points as sell-off looks set to continue in new week

U.S. stock futures fell on Sunday night as traders feared an intensifying trade war between the United States and China.Dow Jones Industrial Average futures dropped 197 points implying a decline of 173.95 points at Mondays open. S&P 500 and Nasdaq 100 futures also declined. The losses would add to a steep decline from last week.Earlier on Sunday China summoned the U.S. ambassador to Beijing to protest Huawei [read more]

What To Expect For US November Non-Farm Pay Roll

Calendar by Forex FactoryU.S. employers probably kept up a robust pace of hiring in November that was closer to the 2018 trend rate after hurricanes distorted data for the prior two months.Nonfarm payrolls rose 198000 according to the median of estimates in Bloombergs survey of economists before the Labor Department releases its monthly employment report Friday at 830 a.m. in Washington. While thats well below the 250000 increase in October its close to the 210000 average over the past 12 months.Economists also project average hourly earnings will post a solid 3.1 [read more]

As the world's top oil producing nations meet, here are 5 issues on everyone's mind

From the lingering backlash over the killing of journalist Jamal Khashoggi to the collapsing oil price this weeks meeting in Austria of OPEC and other top oil producing nations is shaping up [read more]

Market sell off set to continue as Dow futures get hit

U.S. stock futures opened lower Wednesday amid lingering anxiety about a possible economic slowdown and continued murkiness around trade relations with China.On Wednesday evening futures initially indicated that the Dow Jones Industrial Average would open 400 points lower. Dow futures fell as much as 486 points at their lows. Markets have since recovered and as [read more]

Asian markets slip ahead of closely watched OPEC meeting; Hong Kong falls more than 2 percent

Stocks in Asia slipped during Thursday morning trade continuing a decline in markets worldwide ahead of a closely watched meeting by the Organization of the Petroleum Exporting Countries (OPEC).Hong Kongs Hang Seng index fell 2.26 percent in early trade with shares of Chinese tech heavy weight Tencent falling more than 2 percent.The mainland Chinese markets in focus due to Beijings trade dispute with Washington traded [read more]

Asian stocks stumble following Wall Street plunge

Stocks in Asia traded down Wednesday morning after an overnight plunge on Wall Street as investors worried about a potential economic slowdown and the state of the U.S.China trade war.The mainland Chinese markets closely watched in relation to Beijings ongoing dispute with Washington slipped into negative territory in early trade. The Shanghai composite declined 1.09 percent while the Shenzhen composite fell by 1.586 percent. [read more]

Palladium hits record high, briefly surpasses gold price

Palladium soared to a record high on Tuesday fueled by speculative interest and tight supplies of the autocatalyst metal briefly surpassing bullion which scaled to more than a fiveweek peak as the dollar slid.Spot gold was up 0.6 percent to $1237.81 per ounce after earlier hitting $1241.86 the highest price since Oct. 26. U.S. gold futures settled up 0.56 percent at $1246.60 per ounce.Palladium [read more]

Autos drag European markets lower amid worries over US China trade truce

European stocks shifted lower Tuesday amid rising doubts over whether the worlds two largest economies will be able to resolve their trade differences.The panEuropean Stoxx 600 was down 0.7 percent during deals with most sectors and major bourses in negative territory.Europes autos sector which has been the most sensitive to trade war fears in recent months led the losses down almost 2.5 percent Tuesday. Frances  [read more]

These 20 stocks could be the big winners from the China trade truce , including Apple and Nvidia

The threemonth ceasefire in the trade war should offer a reprieve for United States companies that produce and sell in China.President Donald Trump and Chinese President Xi Jinping struck the agreement on Saturday to pause as tariff negotiations continue for 90 days starting in January.Here are the top 20 U.S. companies with the highest revenue exposure to China according to Goldman Sachs which used data from 2017. [read more]

Amazon is now in the running in a three way race to become the world's most valuable public company

Amazon Apple and Microsoft are in a tight race for the title of worlds most valuable public company. The three have tossed around the title over the past few trading days each closing with a market cap over $860 billion. Microsoft surpassed Apple in market cap on Friday only for Apple to overtake it again on Monday. Amazon briefly eclipsed both companies during intraday trading Monday. As of Mondays close [read more]

The next date to watch in the US-China trade war is Dec. 18, expert says

The next crucial date to watch for clues on where the trade war is heading may be just around the corner way before the end of the 90day period that U.S. President Donald Trump and Chinese President Xi Jinping have agreed on to withhold further tariffs.China marks the 40th anniversary of its economic reforms on Dec. 18 which is an occasion  [read more]

November's big jobs report could spark a major market sell off, Invesco warns

Spencer Platt Getty ImagesInvescos Kristina Hooper is concerned Wall Street is ignoring a major risk Wage growth. But it may reclaim the spotlight as soon [read more]

Trump hails trade deal with China as one of the largest ever made

Kevin Lemarque CNBC [read more]

US will hold off on raising China tariffs to 25% as Trump and Xi agree to a 90 day trade truce

Saul Loeb AFP Getty ImagesChinese President Xi Jinping and U.S. [read more]

European stocks close higher as trade disputes take center stage; Deutsche Bank slips 3.4%

European stocks lost some of the steam seen earlier in the session as trade concerns began to take center stage.The panEuropean Stoxx 600 index ended provisionally higher by 0.20 percent in late afternoon with stocks in the Basic Resources basket among those leading the [read more]

Dow snaps 3 day winning streak on trade worries

Stocks closed lower on Thursday as hopes of a trade deal being struck between China and the U.S. dimmed.The Dow Jones Industrial Average fell 27.59 points to 25338.84 snapping a threeday winning streak. The S&P 500 slipped 0.2 percent to 2737.83 and also closed lower for the first time in four days. The Nasdaq Composite dropped 0.25 percent to 7273.08. [read more]

It's now up to President Trump to rescue the stock market from ending 2018 in the red

Jonathan Ernst ReutersIf the stock market is going to end the year with gains it could all come down to this weekend and the meeting [read more]

US manufacturers say Trump tariffs will bring higher prices, not more jobs: Survey

Timothy A. Clary AFP Getty ImagesThe Trump administrations widening trade war will raise prices for U.S. consumers but it wont bring back many manufacturing jobs that have moved overseas.Thats what more than 800 companies [read more]

US criticizes China's 'egregious' tariffs on American cars ahead of G-20 summit

Mary F. Calvert ReutersU.S. Trade Representative Robert LighthizerU.S. Trade Representative Robert Lighthizer said on Wednesday that he was examining all available tools to raise U.S. tariffs [read more]

US and China are 'two big animals learning to co-exist,' says Morgan Stanley

Qilai Shen Bloomberg Getty ImagesThe massive trade dispute between the U.S. and China which some expect to drag through next year [read more]

Global wage growth lowest in a decade as UK falls behind advanced economies

PHILIPPE HUGUEN AFP Getty ImagesAn employee works on a flax winding machine.Global wage growth fell to its lowest in almost a decade last year [read more]

International stocks will beat US stocks over next decade: Vanguard Group

As stock market volatility in the United States has increased in the fourth quarter some Wall Street firms and investors are betting that overseas stocks offer better value. The Vanguard Group says that better value equation shouldnt be measured in a traders days or months but over a full decade.The index fund giant expects international stocks to outperform U.S. stocks over the next 10 years by a margin of 3 percent to 3.5 percent. That could be [read more]

Morgan Stanley says US bank stocks will do well even when Fed pauses interest rate hikes

Scott Mlyn CNBCMorgan Stanley signage on the door of their headquarters building in New York.The U.S.  [read more]

Brexit has reached a critical period and traders are betting on whether sterling will sink or swim

The next few weeks will likely define the Brexit process as a whole with Prime Minister Theresa May heading for a showdown with the countrys lawmakers at a parliamentary vote. The uncertainty has caused a wave of activity across the City of London with currency experts [read more]

BP's Middle East chief isn't worried about low oil prices, says $50 a barrel is within range

Oil producers across North America may be looking at dialing back their investment plans amid plummeting oil prices in recent weeks but BPs Middle East chief is unfazed. The British oil giant has planned its investments with a wide price range in mind accounting for drops like Novembers BP Middle East President Michael Townshend told CNBC on Sunday. You dont plan on [read more]

Trump suggests US could slap 10% tariffs on iPhones and laptops imported from China

President Donald Trump suggested he could place a 10 percent tariff on iPhones and laptops imported from China in an interview with the Wall Street Journal published Monday. He also said its highly unlikely that he would delay an increase in tariffs from 10 percent to 25 percent on Jan. 1 just four days before a summit with Chinese President Xi Jinping. Maybe. Maybe. Depends [read more]

US government reportedly asked allies to avoid using equipment manufactured by Huawei

The U.S. government is trying to persuade wireless and internet providers in allied countries to avoid telecommunications equipment from Chinas Huawei Technologies the Wall Street Journal reported on Thursday. U.S. officials have reached out to their government counterparts and telecom executives in friendly countries where Huawei equipment is already in wide use [read more]

Beijing says US-China trade talks should be equal, mutually beneficial

Trade talks between the United States and China should be equal and mutually beneficial Chinese Vice Commerce Minister Wang Shouwen said on Friday adding that he hoped the two countries can find ways to manage their differences through dialogue. U.S. President Donald Trump and his Chinese counterpart Xi Jinping are expected to hold talks during the G20 summit in Buenos Aires next week as trade ties between the worlds two largest economies become increasingly fraught. Wang speaking [read more]

Black Friday pulled in a record $6.22 billion in online sales: Adobe Analytics

Cris Faga NurPhoto Getty ImagesPeople participate in Black Friday on November 23 2018. More shoppers turned to the internet for deals to kick off the holiday shopping season new data showed Saturday buying everything from apparel to flatscreen TVs and spending record amounts in the process. Black Friday pulled in $6.22 billion in online sales up 23.6 percent from a year ago and setting a new high according to Adobe Analytics which tracks transactions for [read more]

Oil Price Fall Further After Trump Defended Saudi's Prince

Investors have fled oil in droves repelled by a toxic mix that included a global selloff in stocks rising doubts on OPECs commitment to production cuts and escalating trade tensions.Since hitting a fouryear high in early October crude prices have now crashed about 30 percent. They set a new low for the year on Tuesday falling more than 6 percent in New York and London the second huge loss in just over a week. They were little changed in early Asian trading on Wednesday.Crude [read more]

Bitcoin Back To September 2017 Levels, Ether Drop To 3rd Place As Largest Digital Assets

It not a Thank Giving week the crypto communities want to remember. After popping into positive territory in late US trading the price of a single bitcoin BTCUSD did an abrupt Uturn tumbling to a fresh 13month low below $4306.73 down nearly 15% since 1600 UTC time its lowest level since Sept. 27 2017.The total value of all cryptocurrencies has slumped to a more than oneyear nadir beneath $150 billion according to data from CoinMarketCap.What are the analysts sayingDespite psychological support [read more]

DJIA Closed -550 Apple Lead The Fall In Pre-Thanksgiving Trading

U.S. stocks closed sharply lower Tuesday extending a preThanksgiving rout that has been fueled mostly by a selling in shares of technology and internetrelated companies but has now spread to ensnare the broader market. U.S. financial markets will be closed Thursday for the Thanksgiving Day holiday and see an early close Friday.U.S. investors continued to be plagued by doubts surrounding slowing global growth U.S.China trade relations and the steady rise in interest rates that can be expected to continue into next year. These doubts [read more]

Tim Cook explains why Apple accepts billions from Google despite privacy concerns

Apple CEO Tim Cook didnt name names when he spoke out against the privacy practices of big tech companies during a keynote speech in Brussels last month. But he didnt have to. We shouldnt sugarcoat the consequences. This is surveillance. And these stockpiles of personal data serve only to enrich the companies that collect them Cook said in the October 24 speech. This should make us very uncomfortable. It should unsettle us. Those comments [read more]

Saudi Arabia is slashing oil shipments to US, a tactic that boosts prices and may rile Trump

Saudi Arabia is slashing shipments of crude to the United States a move that appears calibrated to boost oil prices after a swift and punishing selloff.The move could put the kingdom at loggerheads with President Donald Trump who wants to drive down energy costs for Americans and frequently accuses the Saudiled OPEC cartel of jacking up oil prices.The Saudis are loading fewer barrels on ships bound for the United States this [read more]

Google-Temasek report finds that affordable mobile internet is driving e-commerce in Southeast Asia

Affordable mobile internet is driving rapid growth in sectors like ecommerce and ridehailing in Southeast Asia according to a new study from Google and Singapores Temasek Holdings. The six Southeast Asian countries that the report focused on have about 350 million internet users today compared to only 260 million in 2015 Rajan Anandan vice president for India and Southeast Asia at Google told CNBCs Squawk Box on Monday. Were adding about 3 million net [read more]

After overtaking Apple in smartphones, Huawei is aiming for No. 1 by 2020

Walk around any major city in China and youll see Huawei stores and ads everywhere. Thats because its the number one player in the worlds biggest smartphone market and has become a major contender on the world stage. The Chinese technology firm overtook Apple to become the worlds secondlargest smartphone vendor by [read more]

Where the super wealthy are investing their money

Ultrawealthy investors arent bullish on the markets but they are well positioned to weather the storm according to Michael Sonnenfeldt founder of investment club Tiger 21. In the third quarter Tiger 21 members moved more capital into real estate and private equity according to its latest asset allocation report. The network which is made up of more than 600 entrepreneurs from every industry has $60 billion in assets. Real estate accounts [read more]

Oil prices whipsaw as OPEC allies ramp up talk of supply cuts at December meeting

OPEC officials quickly sought to reassure energy market participants on Wednesday as oil prices fluctuated wildly ahead of a muchanticipated meeting between the influential oil cartel and its allied partners in early December. The growing prospect of OPEC and nonOPEC members cutting output next month helped Brent crude rebound toward $66 a barrel Wednesday morning. It comes after OPEC President (and United Arab Emirates Energy Minister) Suhail alMazrouei and OPEC Secretary General Mohammed Barkindo said there was [read more]

Theresa May's Brexit Plan Get Cabinet Approval, But Bigger Battle Ahead

British Prime Minister Theresa May won a hardfought victory Wednesday as her cabinet approved a draft plan for exiting the European Union but bigger battles and the potential for more market volatility lie ahead.After a fivehour meeting a majority of Mays cabinet signed off on the controversial draft exit plan. But news reports said the cabinet was split with several ministers opposed to the agreement.British stocks ended lower ahead of Mays statement on Wednesday while the British pound GBPUSD 0.0924%  saw choppy trade [read more]

DJI Longest Losing Streak In 3 Months

U.S. stocks closed lower Wednesday with the Dow Jones Industrial Average logging its longest losing streak in three months.The IndicesThe Dow Jones Industrial Average DJIA 0.81% fell 205.99 points or 0.8% to 25080.50 its fourth decline in row the longest such streak since Aug. 13 according to FactSet data.The S&P 500 index SPX 0.76% or 0.8% to 2701.58 and The Nasdaq Composite Index COMP 0.90% shed 64.48 points or 0.9% to 7136.39.What drove the marketAs bluechip Apple [read more]

US, Russian And Saudi Pumping Crude At Record Levels

The U.S. Russia and Saudi Arabia are pumping crude at record levels causing global supply to significantly outrun demand a monthly update from the International Energy Agency showed Wednesday.The IEA said oil output from the worlds three biggest producers is holding global supply steady at around 100.7 million barrels a day last month. Thats 2.6 million barrels a day higher than the same period last year.Since May global oil output has climbed by 1.8 million barrels a day. The U.S. has provided 1 million barrels a day of growth [read more]

IMF To International Communities; 'Consider' Endorsing Central Bank Issued Digital Currencies

The head of the International Monetary Fund (IMF) has said the international community should consider endorsing central bank issued digital currencies (CBDCs) in a speech at the Singapore Fintech Festival Nov. 14.IMF managing director Christine Lagarde said that despite being not entirely convinced on the concept of cryptocurrencies more generally there may be a case for states to issue governmentbacked tokens or similar assets.I believe we should consider the possibility to issue digital currency. There may be a role for the state to supply money to the [read more]

Mark Mobius says it's time to buy stocks in emerging markets

Stocks in emerging markets are looking very cheap now and thats a buying opportunity prominent investor Mark Mobius told CNBC on Monday. Investors sold their holdings in emerging markets in a big way in recent months as they feared financial problems in countries such as Turkey and Argentina could spill over to other economies. Adding to concerns were the strengthening U.S. dollar and rising oil prices which hurt emerging economies with [read more]

Trump's trade war could dent China's domestic consumption, dragging down the rest of Asia

Much attention in recent months has focused on the U.S.China trade wars impact to global supply chains and how that could hurt many Asian economies. Thats one way the region may be dragged down by the conflict but there could be more at risk. Another important factor experts said is a potential slowdown in Chinas domestic demand for goods from other Asian countries. [read more]

Alibaba's CEO started Singles Day to promote a new brand. Now it's a $25 billion phenomenon

Singles Day may not be that wellknown outside of China but its a celebration that has turned into a multibilliondollar annual shopping day thanks to Alibaba. And the architect behind it current CEO Daniel Zhang started it to promote a new ecommerce platform. Nov.11 is known as Singles Day in China and is widely believed to have begun in the 1990s in universities by men celebrating being single. In 2009 Alibaba launched the first shopping event on that day offering heavy discounts [read more]

San Francisco Fed names Mary Daly as president

The Federal Reserve of San Francisco on Friday named its head of research Mary Daly as its next president succeeding John Williams who departed in June to lead the New York Fed.Daly takes the helm in San Francisco on October 1. Dalys appointment was approved by the Feds Board of Governors in Washington. This is the same position former Federal Reserve Chair Janet Yellen held from 2004 to 2010.I am truly honored to have been given this opportunity Daly said in a statement. I believe very strongly in the Federal Reserves mission [read more]

Fed Kept Rate Unchanged And Signal Tightening Will Continue.

U.S. stocks closed mostly lower Thursday as the Federal Reserve kept interest rates unchanged in an unanimous decision and signaled that it would continue to tighten monetary policy at a gradual pace.In a statement that was largely intact from its September meeting the Fed said The Committee expects further gradual increases in the target range for the federal funds rate. It also said the risks to the economic outlook appear roughly balanced and noted that inflation remains near its 2% target.The absence [read more]

Trump is in big trouble now that Democrats control the House — and he knows it

His words of selfcelebration signal one thing his actions another that President Trump knows he is in big trouble. After American voters hit the brakes on his administration by flipping the House to Democratic control Trump called a White House news conference to insist he had won almost a complete victory. That referred to GOP gains in the Senate which remains in his [read more]

Blockchain tech is taking on renewable energy trading in Singapore

Blockchain the technology underpinning cryptocurrency bitcoin has been recommended and theorized for uses across a broad spectrum of sectors and countries. Now one Southeast Asian citystate is putting the tech to work in reshaping its energy industry.In Singapore companies can buy and sell socalled renewable energy certificates (RECs) that represent a unit of green energy production from the likes of wind or solar power. The idea is that firms seeking to offset their nongreen energy production can [read more]

Which way for markets? It's all about the midterms

Americans will cast their vote in the U.S. midterm elections on Tuesday and the results will set the tone for stock markets around the world. Four hundred and thirtyfive seats in the House of Representatives are up for grabs while 35 of the 100 Senate seats will be on offer too. The big picture result will center around [read more]

American businesses paid 50% more in tariffs in September due to Trump's trade war, industry coalition says

WASHINGTON American businesses are paying much more in tariffs than they did last year due mainly to President Donald Trumps aggressive trade policies according to an analysis by industry groups. U.S. businesses shelled out $4.4 billion in tariffs in September a surge of more than 50 percent from the same month a year ago according to the groups which are operating under a coalition called Tariffs Hurt the Heartland. The increase was largely driven by $1.4 billion in Trump administration [read more]

Inflation hits 25% in Turkey — but experts warn the central bank must now hold its ground

Consumer price growth has hit a whopping 25 percent in Turkey but the real challenge lies in the central bank not bowing to pressure to lower interest rates prematurely as the inflation rate starts to fall analysts have said. Turkey saw a strongerthanexpected rise in inflation in October with prices rising 25.2 percent yearonyear marking the highest inflation rate in 15 years. Core inflation which strips out volatile factors like energy [read more]

Business figures call for vote on Brexit terms: Sunday Times

More than 70 business figures are calling for a public vote on the final terms of Britains exit from the European Union warning that the country faces either a blindfold or a destructive hard Brexit the Sunday Times reported. Firms are increasingly worried about the prospect of Britain leaving the worlds biggest trading bloc in March without an agreement or that politicians will [read more]

Bank of Japan governor says he's aware that easy policy is hurting lenders, warns of global risks

Bank of Japan Governor Haruhiko Kuroda said on Monday the central bank was aware that prolonged ultraloose monetary policy could squeeze financial institutions margins and potentially destabilize the countrys banking system. Given subdued inflation and uncertainty surrounding overseas economies however he said the BOJ needed to maintain its massive stimulus program while keeping a watchful eye on the merits and costs of its policy. [read more]

Amazon is packing more stuff into warehouses and is considering a change in how it measures space

As robots pack more and more items into Amazons fulfillment centers reaching high up on shelves to store and retrieve toiletries electronics and household goods the company is reconsidering how it accounts for space. On last weeks earnings call with analysts Chief Financial Officer Brian Olsavsky said that Amazon could start using cubic feet instead of square footage to measure its warehouse footprint. That would change the measurement from one of sheer size to one of volume and give a clearer picture of how Amazon is becoming [read more]

What To Expect For Today Non-farm Payroll

According to a Reuters survey of economists nonfarm payrolls probably rebounded by 190000 jobs in October after Florence depressed restaurant and retail payrolls in September.The NFP (Nonfarm employment change) and the unemployment rate both these economic events will be closely monitored at 2030 (hksg). Looking at the forecast the NFP is expected to be rise by 194K vs 134K during the previous month. On Wednesday the ADP figure came out better than the forecast and due to its positive correlation with the NFP investors are [read more]

Fundstrat Global Advisors Say On CNBC, Urges Aggressive Buying.

Bulls gonna bull.And Tom Lee of Fundstrat Global Advisors isnt about to let that nasty October stretch get in the way of his latest take. So he went on CNBC on Thursday to talk about how he sees this bull market lasting wait for it decades!The bull market is only now approaching middle age and could last 20 more years strategist Tom Lee says.It could last to 2035 or 2038 Lee says. Thats going to coincide with millennials peaking.In a note to [read more]

Apple missed iPhone sales estimates, but it's making more money from iPhones than ever before

Apple sold 46.89 million iPhones during the quarter ended Sept. 30. This company revealed the number in its earnings report Thursday.Analysts were looking for 47.5 million iPhones during the quarter according to StreetAccount and FactSet. But Apple is proving the average selling price (ASP) of each iPhone is more important. Apples iPhone ASP during the quarter was [read more]

Gold buying by central banks hits its highest level in almost three years

Central banks around the world have upped their spending on gold to the highest level in almost three years according to the World Gold Council (WGC). More than 148 metric tons of gold were bought by the national banks in the three months to the end of September a rise of 22 percent on the same period last year. Using the current spot price of $1223 per troy ounce the gold purchases by the banks added up to a $5.82 billion spending splurge [read more]

UK and EU reportedly agree to tentative Brexit deal on financial services

British Prime Minister Theresa May has struck a tentative deal with the European Union that would give UK financial services companies continued access to European markets after Brexit The Times reported on Thursday. British and European negotiators have reached tentative agreement on all aspects of a future partnership on services as [read more]

Is This Stock Nightmare Coming To An End? Experts On CNBC Explain.

Stocks surge to cap off wild October but S&P 500 posts biggest monthly loss since 2011The Dow Jones Industrial Average surged 241 points to 25115.76  bringing its twoday gain to nearly 650 points while the S&P 500 gained more than 1 percent to 2711.68. The Nasdaq Composite advanced 2 percent to 7305.90 and briefly climbed out of correction territory.But despite Wednesdays surge the S&P 500 posted its worst monthly performance since 2011 after worries about higher interest rates and trade rattled investors throughout October. [read more]

Oil Price Biggest Drop Since 2016

Oils set for its biggest monthly drop since 2016 as the specter of a slowdown in the global economy haunts the market while U.S. inventories grow and producers relay mixed signals.Futures in New York are poised for an 8.8 percent drop in October following two months of gains. A global equity rout and an escalating U.S.China trade war are weighing on the outlook for growth and energy demand dragging down prices that only weeks earlier surged to a fouryear high. Concerns of a supply squeeze due [read more]

This 3 Industries Is The Best Way To Hedge Your Investment If Stock Keep Falling

In recent months interest rates have been steadily rising which we know should put a damper on corporate lending activity and wage inflation is finally beginning to pick up which may encourage the Federal Reserve to remain aggressive with interest rate hikes. Were also seeing weakness in new home sales in key markets (ahem California) and facing the uncertainty of the midterm elections that could dictate the ability of Congress to pass fiscal policy over the next two years.These are the industries to own if [read more]

Bitcoin Broke Off $6,500 Consolidation

The bitcoin lull is over. The price of the No. 1 digital currency has broken out of its recent narrow trading range dropping to a twoweek low below $6300 and providing traders some longmissing volatility.A single bitcoin BTCUSD 0.35%  was last changing hands at $6276.68 down 2.1% since Sunday at 5 p.m. Eastern Time on the Kraken exchange. Bitcoin had reached an intraday low of $6243.72 the lowest level since Oct. 15.Earlier in the session Mati Greenspan senior market analyst at eToro suggested a move was imminent Theres still [read more]

Oil Price Bounce Off Support Asia Morning From Monday Selling

Oil prices fell on Tuesday dragged down by ongoing weakness in global stock markets and by signs of rising global supply despite looming sanctions on Irans crude exports.Frontmonth Brent crude oil futures LCOc1 were at $76.78 a barrel at 0040 GMT down 56 cents or 0.8 percent from their last close.U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $66.78 a barrel down 26 cents or 0.4 percent from their last settlement.Oil has been caught up by broad financial market slumps this month with [read more]

US Stock Swings Over 900 Points

Stocks closed lower Monday in a volatile session with the Dow Jones Industrial Average swinging over 900 points as concerns about global growth resurfaced following a news report that suggested that the U.S. is about to intensify its trade war with China.President Donald Trumps administration is prepared to announce tariffs on remaining Chinese imports if talks next month between Trump and Xi Jinping do not yield results Bloomberg reported. Such a move is likely to prolong the standoff between the U.S. and China over [read more]

Gold Steady Above $1,230 This Friday Asia Session

Gold on track for the longest string of weekly gains since JanuaryGold prices have gained about 6 percent after falling in midAugust to their lowest since January 2017.Shares in Asia slipped on Friday morning despite an overnight bounce on Wall Street.Gold prices held steady on Friday but remained on track to rise for the fourth straight week the longest string of weekly gains since January amid increasing worries over the outlook for U.S. corporate earnings and global economic slowdown.Asian shares [read more]

Tesla boosts cash position despite repaying loan, expects trend to continue through Q4

Tesla promised it would swing to profitability and positive free cash flow in the third quarter of 2018 and on Wednesday the company reported that it had achieved those goals in Q3.Thanks to recent manufacturing changes that allowed Tesla to produce a higher volume of its latest car the Model 3 electric sedan Tesla reported GAAP net income of $312 million [read more]

Cryptocurrencies stay mostly steady despite global stock market sell-off

Cryptocurrencies held up by and large on Thursday despite a rout in global stock markets. In the afternoon of Asia hours bitcoin had fallen by 0.23 percent to around $6484 while XRP saw losses of 2.09 percent and ethereum shed 1.38 percent according to data from Coinmarketcap.com. Its not unusual to see bitcoin lead other digital tokens lower. The steady performance among cryptocurrencies contrasted sharply with the last time there was a major market stock selloff. [read more]

Japan's Abe will meet China's Xi — under the shadow of Trump

Prime Minister Shinzo Abe of Japan faces a tough balancing act as he heads to Beijing for a Thursday summit with Chinese President Xi Jinping. Japans often fraught relations with China are improving as highlighted by Abes Oct. 2527 visit the first standalone journey to the country by a Japanese leader in nearly seven years. But [read more]

China talks up the stock market amid lurking concerns about share-backed loans

A flurry of comments from Chinese officials over the last few days have been aimed at pledging support for private businesses with financing problems as Beijing seeks to ease fears of a selloff in stocks. The worry is that a drop in stock prices would force the selling of shares used as collateral and lead to further market declines in China. In one of Beijings latest interventions the Securities Association of China announced Monday night that [read more]

Jack Ma sticks to his goals by repeating 3 questions to himself

The ability to stay the course can make or break a business and thats something that selfmade billionaire Jack Ma knows well.The iconic entrepreneur has led Alibaba since its inception in 1999. Under his watch the company grew into a major tech juggernaut to make Ma one of the richest men in China.Mas track record comes at a time when statistics point [read more]

Salaries for blockchain engineers are skyrocketing, now on par with AI experts

The value of cryptocurrencies might be down in the dumps but demand for blockchain engineers has never been higher. Blockchain engineers are making between $150000 and $175000 on average according to global stats provided to CNBC by Hired a San Francisco firm that helps clients recruit tech candidates. Thats quite a premium over the $135000 salaries that typical [read more]

Goldman CEO Solomon says part of October's market sell-off driven by programmatic trading

pictures source Getty ImagesGoldman Sachs CEO David Solomon said Thursday that he believes part of Octobers steep stock selloff was the result of programmatic trading.Theres no question when you look at last week some of the selling is the result of programmatic selling because as volatility goes up some of these algorithms force people to sell Solomon told CNBCs Wilfred Frost. Market structure can at times contribute to volatility and one of the things that were spending a bunch of time thinking about at the [read more]

Tesla CEO Elon Musk just introduced a 'lower-cost, mid-range' Model 3 via Twitter

Tesla CEO Elon Musk announced on Twitter that a new variant of the companys Model 3 electric sedan is going on sale today.He wrote Costs $35k after federal & state tax rebates in California but true cost of ownership is closer to $31k after gas savings.On the companys website this Model 3 has a base $4500 sticker price but is advertised as costing $30700 after estimated savings which includes incentives and gas savings. It will have an estimated range [read more]

Japan inflation ticks up as oil rises but the central bank's target remains elusive

Japans annual core consumer inflation ticked up in September but remained at half the pace of the central banks elusive 2 percent target underscoring the challenge of meeting the price goal as escalating trade frictions cloud the economic outlook. While the rate of increase was the fastest in seven months the gain was due mostly to higher oil costs with most other items rising only slightly government data showed on Friday. [read more]

Japan exports fall for first time since 2016 as trade war fears mount

Japans exports fell in September for the first time since 2016 as shipments to the United States and China declined adding to concerns about the broadening impact of an escalating SinoU.S. trade war. The data comes days after a Reuters poll showed a third of Japanese companies have been affected by the trade conflict between the worlds two biggest economies with firms fretting about slower Chinese demand. Japanese policymakers also worry about [read more]

Tesla buys new plot for its first China factory

Tesla successfully acquired an 864885square meter plot in Shanghais Lingang area for the electric car makers new factory according to an announcement from Lingang Wednesday afternoon. No price was immediately disclosed.Plans for the whollyowned factory were first announced in July. Lingang is located on the coast about 47 miles southeast of the center of Shanghai or a roughly twohour subway ride. Several auto manufacturers [read more]

Khashoggi crisis threatens to alienate the foreign firms remaking Saudi Arabia's economy

In August AMC Entertainment CEO Adam Aron told analysts he could not be more upbeat about the companys expansion into Saudi Arabia where the company had recently opened the first new theater in the conservative Islamic kingdom in nearly four decades. Aron had good reason to be effusive. In his words the opening received massive global publicity. AMCs single screen in Riyadh is more than 20 times more profitable than the average [read more]

Google's YouTube suffers a major outage

Googles streaming service YouTube experienced a major outage on Wednesday morning as users complained that they were unable to access the website. The service was back up as of 11 a.m. HKSIN time (11 p.m. ET Tuesday) although YouTube did not explain what caused the outage. A screenshot of the YouTube homepage taken on Oct. 17 [read more]

Trump says Fed is his 'biggest threat' because it is raising rates too fast

President Donald Trump on Tuesday escalated his assault on the Federal Reserve calling it my biggest threat. Because the Fed is raising rates too fast. And its independent so I dont speak to him Trump said in an interview with Fox Business referring to Fed Chairman Jerome Powell. But Im [read more]

US budget deficit expands to $779 billion in fiscal 2018 as spending surges

The U.S. federal budget deficit rose in fiscal 2018 to the highest level in six years as spending climbed the Trump administration said Monday. The deficit jumped to $779 billion $113 billion or 17 percent higher than the previous fiscal period according to a statement from Treasury Secretary Steven Mnuchin and Office of Management and Budget Director Mick Mulvaney. It was larger than any year since 2012 when it topped $1 trillion. The budget shortfall rose to 3.9 percent of U.S. [read more]

Paul Allen, co-founder of Microsoft, is dead at 65

New York (CNN Business)Paul Allen the billionaire cofounder of Microsoft died Monday. He was an investor entrepreneur and philanthropist who influenced many aspects of modern life from technology and science to sports and music.Allen was 65 his investment firm Vulcan [read more]

Amid trade tensions and stock turmoil, China cracks open its bond market further to foreigners

In a step toward wooing more overseas investors Chinas main publisher of bond market data and Londonbased IHS Markit announced Friday new indexes that claim to offer more transparency into the worlds thirdlargest fixed income market. ChinaBond a subsidiary of stateowned China Central Depository and Clearing is the main source of pricing data on mainland Chinese bonds. IHS Markit is behind the widely followed iShares iBoxx High [read more]

Oil Price Open Monday Gap Up On Saudi Tension

Crude oil futures rose sharply on Monday as geopolitical tensions over the disappearance of a prominent Saudi journalist stoked worries about supply although concerns about the longterm outlook for demand dragged on prices.Crude markets were also supported in the wake of data that showed South Korea did not import any oil from Iran in September for the first time in six years before U.S. sanctions against the Middle East country take effect in November.Brent crude had risen 98 cents or 1.22 percent to [read more]

Alibaba's Jack Ma to open institute for tech entrepreneurs in Indonesia

NUSA DUA Indonesia Jack Ma executive chairman of Chinas Alibaba Group Holding said on Saturday (Oct [read more]

Trade war could cut China's growth by nearly 2 percentage points over two years: IMF

At its worst the ongoing trade tensions could knock 1.6 percentage points off Chinas economic growth over the first two years according to an analysis by the International Monetary Fund. The assessment took into account all current and proposed tariffs on Chinese goods that enter the U.S. as well as knockon effects the trade tensions have on investor confidence and financial markets. But much of that impact is expected to be offset by the Chinese governments policies to stimulate the economy noted Changyong Rhee director of the [read more]

Dow futures imply a more than 400-point surge at Friday's open as stocks try to rebound from rout

U.S. stock futures traded higher on Thursday night pointing to a rebound for Wall Street after backtoback selloffs. As of 324 a.m. ET Dow Jones Industrial Average futures rose 297 points indicating a gain of 424.17 points at Fridays open. S&P 500 and Nasdaq 100 futures also pointed to solid gains to start off Fridays session. The [read more]

China posts record trade surplus with the US in September, Beijing says

China recorded a record trade surplus of $34.13 billion with the U.S. in September amid intense trade tensions between the worlds two largest economies. The September surplus with the U.S. was larger than Chinas overall trade surplus of $31.69 billion for the month. The worlds two largest economies are locked in a bitter trade dispute with U.S. President Donald Trump taking issue with his countrys massive trade deficit against China. [read more]

Investors need to pay closer attention to China

New York (CNN Business)Investors cant afford to ignore China. I think it is a really important factor for small medium and large investors to be paying closer attention to Mark Howard Senior MultiAsset Specialist at BNP Paribas told CNN international correspondent Paula Newton on Wednesday. The trade war between the United States and China is already hurting Chinese stocks. The benchmark Shanghai Composite Index is down 17.6% this year. And the International Monetary Fund cut [read more]

CNBC's Mad Money Jim Cramer Advise Viewer On Yesterday Dow -800 Dropped

Since the Federal Reserve lowered the boom on interest rates last week theres been a greater need for investors to use caution Jim Cramer warned his Mad Money viewers Wednesday. After another big down day on Wall Street Cramer said the panic is real which makes it the perfect time to formulate your game plan.Sellers outweighed the buyers 10to1 a sign that normally signals the bottom is at hand. But Cramer said hes concerned the selling is not over and well see even more weakness ahead.The impact of Fed [read more]

Apple plans to give away original content for free to device owners as part of new digital TV strategy

Seven years ago Walter Isaacson wrote that Apple founder Steve Jobs told him hed cracked the code on bringing television into the digital age.Seven years later the world is still waiting. But Apples not giving up even if it isnt revolutionizing the industry.Apple is preparing a new digital video service that will marry original content and subscription services from legacy media companies according to people familiar with the matter. Owners of Apple devices such as the iPhone iPad and Apple TV will find the stillintheworks [read more]

Starbucks Stock Up On Hedge Fund Reveals It Investment In The Company

Bill Ackman reveals $900 million bet on Starbucks sees shares doubling in three yearsThe activist investor reveals his fund has 15.2 million shares of Starbucks about $900 million worth.In the food and beverage space Pershing also holds shares of Chipotle Mexican Grill Restaurant Brands International which is the parent of Burger King and Tim Hortons and Mondelez.Through September Pershing Square had $8.3 billion of assets under management and its net performance was up 15.8 percent.Bill Ackman of Pershing Square Capital revealed a new [read more]

Facebook Seeing Growth in Business Network Workplace

SAN FRANCISCO Facebook on Tuesday hosted its first global summit spotlighting a growing Workplace platform launched two years ago as a private social network for businesses.While Facebook would not disclose exact figures it said Workplace a rival to collaboration services like Slack Salesforce and Microsoft has been a hit and that ranks of users have doubled in the past eight to 10 months.The list of companies [read more]

Mohamed El-Erian Says US Economy Look Good For The Next Couple Of Years

Mohamed ElErian The US economy looks good for the next couple of years at leastThe IMF maintained its prediction of 2.9 percent growth for the U.S. this year but reduced its 2019 American growth prediction from 2.7 percent to 2.5 percent in its World Economic Outlook published on Tuesday.Mohamed ElErian chief economic advisor for Allianz said the IMF is too pessimistic about the worlds largest economy.It wouldnt surprise me if we get 3 percent growth for this year and next [read more]

Could Italy be the next Greece? Investors show growing concerns

Italian government bonds are increasingly seen as riskier investments given the antiestablishment Cabinet and its public spending plans so much so that Italian bonds are moving closer to being seen to be as risky as Greeces.The yield on the 10year Italian government bond is currently at 3.58 percent the highest level in over five years.The yield (or interest rate) on a bond which is basically a piece of paper that in this case a government sells to raise money indicates the [read more]

IMF cuts its global growth forecast, citing trade disruptions

The International Monetary Fund has cut its global growth forecasts as trade tensions between the U.S. and trading partners have started to hit economic activity worldwide. The IMF said the global economy is now expected to grow at 3.7 percent this year and next year down 0.2 percentage points from an earlier forecast according to the funds latest World Economic Outlook report released on Tuesday. The report published twice a year in April and October [read more]

A Quick Preview Of US Q3 Earning And WHat To Expect

chart by CNNMONEYThird quarter (Q3) earnings are expected to see growth of 19.3% and revenue growth of 6.9% for the S&P 500 according to FactSet the US financial data group. If we see doubledigit earnings growth then this will be the sixth of the past seven quarters of such strong performance from US firms.Q2 earnings rose 27% while sales were up 11% and corporate profit margins hit a new record high of 11.4%. Earnings continue to rise faster than the S&P 500 itself a sign that this bull [read more]

China cuts some banks' reserve requirements to spur growth

Chinas central bank said on Sunday it would cut the amount of cash that most banks must hold as reserves to lower financing costs and spur growth amid concerns over a potential economic drag from an escalating trade dispute with the United States. The reserve requirement cut the fourth by the Peoples Bank of China (PBOC) this year comes after Beijing has pledged to expedite [read more]

US September's Non-Farm Payroll, What you Need To Know

What to expect from Septembers US nonfarm payrollsUS nonfarm payrolls are expected to grow by 185000 in September down from 201000 in August. It comes as the US dollar bulls gather momentum and the US 10year treasury yield rises above 3.2%.Victoria Scholar talks with chief market analyst Chris Beauchamp about the outlook for todays nonfarm payroll (NFP) report. Wednesdays private sector ADP report was well in excess of expectations putting investors on notice for a potentially strong number when nonfarms are published. However with expectations already [read more]

Samsung Electronics says third-quarter operating profit likely hit record high

Samsung Electronics on Friday said its thirdquarter operating profit likely rose to a record high on demand from data centers and improved production yields. The third quarter is however expected to mark a peak in earnings as a twoyear super cycle of tight supply and soaring demand comes to an end with prices of some types of chips already sliding sharply. Samsung in a regulatory filing [read more]

Foreign aid picks up for Indonesia's quake survivors, as death toll tops 1,400

International efforts to help survivors of Indonesias devastating earthquake and tsunami gathered pace on Thursday as concern grew for hundreds of thousands with little food and water six days after disaster struck. Desperate residents on the west coast of Sulawesi island were scavenging for food in farms and orchards as the government struggled to overcome shortages of water [read more]

England's Football Association reportedly agrees to sell Wembley Stadium to US billionaire

The iconic Wembley Stadium known as the home of English soccer could be sold to U.S. billionaire Shahid Khan for 600 million pounds ($790.4 million) if the deal gets full support within the Football Association of England according to the Financial Times.The association and Khan have agreed to a deal in recent days the FT reported on Wednesday citing several people familiar with the matter. The sale needs approval from the associations 10member board on Thursday to proceed but a small number of members have [read more]

The U.S. economy is set to look good 'for quite some time,' Chicago Fed president says

Following Federal Reserve chairman Jerome Powells description of the U.S. economic outlook as remarkably positive market watchers are fielding questions as to how long this rosy period might last. The answer Quite some time in the words of Chicago Fed chief executive Charles Evans but only if interest rates are hiked to above neutral which Evans describes as just over 3 percent. The U.S. economy is doing extremely [read more]

Amazon raises minimum wage to $15 for all US employees

Amazon announced Tuesday its raising the minimum wage for all U.S. employees to $15 effective next month. The new minimum wage will benefit more than 250000 Amazon employees including parttime and temporary employees as well as another 100000 seasonal employees the company said. Some employees who already make $15 per hour will also see a pay increase. Amazon said the effect of the [read more]

Microsoft is expected to unveil new Surface computers Tuesday night

Microsoft is expected to announce new versions of its existing Surface computers on Tuesday evening at an event it is hosting in New York.Microsoft launched the Surface Pro the latest version of its laptoptablet hybrid computer in June 2017. It hasnt updated that computer since. Also about a year ago Microsoft launched the Surface Book 2 and the Surface Laptop two computers that could use an update to Intels latest eighthgeneration processors. Microsoft may also use its event to unveil a new version of its desktop computer the [read more]

Tesla beats Wall Street estimates for overall vehicle deliveries

Tesla delivered 83500 vehicles during the third quarter beating Wall Street analysts expectations for deliveries.But investors are still concerned about the companys profitability and were disappointed it didnt release more detailed data on its production costs and sale prices analysts said.Teslas shares fell 1.3 percent in midmorning trading despite beating Wall Street estimates for 80500 deliveries during the quarter according to data compiled by FactSet.The company [read more]

OPEC 'powerless to prevent' oil prices jumping toward $100 a barrel this year

OPEC kingpin Saudi Arabia is illequipped to prevent a supply shock in the energy market analysts told CNBC on Monday as oil traders prepare for the possibility of $100 a barrel before yearend. Nobody wants to get caught short full in the knowledge that more Iranian barrels are poised to be removed from the market Stephen Brennock oil analyst at PVM Oil Associates said in a research note published Monday. Late last month President Donald Trump urged OPEC producers to ratchet up [read more]

Facebook names its new head of Instagram

Facebook on Monday announced Adam Mosseri will take over as the head of Instagram following the sudden resignations of cofounders Kevin Systrom and Mike Krieger last week. Mosseri has been Instagrams head of product since earlier this year and previously led the companys News Feed division. Mosseri will take the reigns at Instagram effective immediately an Instagram spokeswoman told CNBC.We are thrilled to hand over the reins to a product leader with a strong design background and a focus on craft and simplicity [read more]

Satellite company partners with Bezos' AWS to bring internet connectivity to the 'whole planet'

Iridium Communications announced a partnership with Amazon Web Services this week to develop a satellitebased network called CloudConnect for Internet of Things (IoT) applications. Were really covering the whole planet ... with terrestrial networks today its still only 10 percent or 20 percent of the Earth Iridium CEO Matt Desch told CNBC on Thursday. Everybody today can [read more]

Indonesia scrambles to help quake-hit island as death toll tops 800

Indonesian authorities scrambled to get food aid and equipment into quakehit Sulawesi island on Monday as the death toll from the disaster soared to 832 and looked certain to rise as rescuers struggled to reach devastated outlying communities. Dozens of people were reported to be trapped in the rubble of several hotels and a mall in the city of Palu which was hit by waves [read more]

Japan industrial output rebounds in August, outlook in doubt

Japans industrial output rose in August for the first time in four months as some factories resumed activity following heavy rain and floods but uncertainty over the likely result of trade talks between Japan and the United States clouds the outlook. Trade ministry data out on Friday showed factory output rose 0.7 percent in August from the previous month less than economists median [read more]

Trade turmoil between China and the US spills into military relations

WASHINGTON As the worlds two largest economies exchange titfortat tariffs there are growing suggestions that the trade turmoil has spilled over into military relations. China has canceled friendly engagements with the U.S. Navy possibly due to the trade dispute. In an interview with CNBCs Morgan Brennan Navy Secretary Richard Spencer the branchs top civilian explained the intricate relationship between the two naval forces. When we [read more]

SEC charges Tesla CEO Elon Musk with fraud

Tesla CEO Elon Musk has been sued by the Securities and Exchange Commission for fraud according to court documents filed Thursday. Sources close to the company told CNBC the company was also expecting to be sued though Tesla was not named as a defendant in the complaint. Shares of the automaker fell more than 13 percent in extended trading Thursday. The stock is roughly 30 percent below its 52week high [read more]

China leaves rates steady despite Fed hike

Chinas central bank left shortterm rates unchanged on Thursday choosing not to follow a benchmark interest rate rise by the U.S. Federal Reserve despite the risk that it could put renewed pressure on the yuan. The move by the Peoples Bank of China (PBOC) means that it did not immediately adjust borrowing costs for interbank loans after the U.S. Federal Reserve raised its key rate overnight. While [read more]

Fed sounds less aggressive than expected and less confident in long-term growth

Stocks and bonds seesawed as investors parsed the Feds message on Wednesday after Fed Chair Jerome Powell spoke to reporters. The Federal Reserve raised interest rates as expected by a quarter point raised its economic outlook for this year and next and removed the reference in its statement that policy is accommodative. These actions initially sent stocks and bonds higher.But while [read more]

IMF increases Argentina bailout package to $57 billion

The International Monetary Fund and Argentina announced Wednesday an arrangement to increase resources available to the South American country by $19 billion. The agreement pending IMF Executive Board approval would bring the total amount available under the program to $57.4 billion by the end of 2021 up from $50 billion. Argentinas recessionladen economy is struggling under steep interest rates and a currency that has lost around 50 percent of its value [read more]

US crude rises 20 cents, settling at $72.28, after Trump repeats call for OPEC to pump more

Oil prices rose on Tuesday but eased off a fouryear high after U.S. President Donald Trump called on OPEC to increase crude output even he as called for heavier sanctions on major oil producer Iran. Prior to Trumps remarks oil had headed higher with Brent hitting $82.55 per barrel its highest since Nov. 10 2014 on concerns about global supply shortages in the wake of U.S. sanctions on Irans oil exports which [read more]

Wall Street is backing SEC proposal to change how ETFs are valued daily

One of the selling points of exchange traded funds over mutual funds has been investors ability to buy and sell them throughout the day controlling the timing of their trades. Now Wall Street industry groups are backing a Securities and Exchange Commission proposal to eliminate one of the features of this trade. Among other rules the agency wants to abolish the practice of ETFs updating their net asset values every 15 seconds something the industry says is cumbersome and often inaccurate. The SEC has proposed letting [read more]

'No one can take us down,' China's state-run media claims as trade war heats up

Chinas staterun media outlets sounded a confident tone in Monday editorials and warned that U.S. trade pressure against the country would not only strain bilateral relations between the two nations but could negatively affect the American economy and wider global markets. Those reactions followed the latest round of mutual tariffs targeting U.S. and Chinese goods taking [read more]

Risk is rising that all of imports from China could be hit with US tariffs, Goldman Sachs says

With the worlds two largest economies opening a new front in their multibillion dollar bilateral trade dispute the risk has risen sharply that the U.S. will eventually slap tariffs on all imports from China Goldman Sachs said on Sunday. President Donald Trump ordered a new raft of surcharges on around $200 billion worth of Chinese goods last week with China retaliating [read more]

Apple's iPhone XS and XS Max go on sale globally

Apples iPhone XS and XS Max went on sale on Friday with the traditionally long queues outside stores missing in some flagship locations. Outside Apples flagship London store on Regent Street about 25 people queued up as of around 6 a.m. local time. Some people were queuing up from 7.30 p.m. London time on Thursday. Outside the Orchard Road Apple store in Singapore the story was very different. Photos posted on [read more]

Japan's Prime Minister Abe wins party vote, on track for extended term

Prime Minister Shinzo Abe won a ruling party leadership vote on Thursday setting him on track to become Japans longestserving premier and try to cement his legacy including by revising the pacifist constitution.Abe who surged back to power in 2012 promising to reboot the economy and strengthen defence defeated former defence minister Shigeru Ishiba in the election for Liberal Democratic Party chief winning 553 votes to Ishibas [read more]

Amazon is considering opening as many as 3,000 cashierless stores by 2021, report says

Amazon is considering opening 3000 of its cashierless stores by 2021 Bloomberg said in a report on Wednesday based on conversations with people familiar with the matter. The ecommerce giants push into retail would threaten the likes of convenience stores and fastfood chains across the U.S. selling items for customers in a pinch for time. Amazon currently has three locations known as Amazon Go open in Seattle where Amazon is [read more]

China hits back: It will impose tariffs on $60 billion worth of US goods effective Sept. 24

China said it will institute new tariffs on U.S. goods worth $60 billion on Sept. 24 according to a Reuters report. The media outlet said the Asian countrys tariff rate on a list of 5207 U.S. products will range between 5 percent and 10 percent. On Monday President Donald Trumps administration announced it will impose 10 percent tariffs on about [read more]

Microsoft is upping its A.I. battle with Salesforce

Microsoft on Tuesday announced new easytouse cloud services that draw on artificial intelligence to help with certain kinds of work namely customer service and marketing. The move could help Microsofts Dynamics cloud business software become more competitive with Salesforce which has begun offering premium AI features for its services. Amazon Google and other companies are also making strides in these two areas. Microsoft introduced Dynamics 365 AI for Customer Service and Dynamics 365 [read more]

Amazon plans to release at least 8 new Alexa-powered devices, including a microwave, an amplifier, and an in-car gadget

Amazon is doubling down on its Alexapowered devices with plans to release at least 8 new voicecontrolled hardware devices before the end of the year CNBC has learned. The devices include among others a microwave oven an amplifier a receiver a subwoofer and an incar gadget people familiar with the matter said. All of the devices will be Alexaenabled meaning they can easily connect to the voice assistant. Some of the devices [read more]

Amazon launches 'Storefronts' as it promotes smaller US businesses

Amazon has opened an online store where shoppers can buy specifically from U.S. small and mediumsize businesses. Unveiled Monday Amazon Storefronts is accessible from the Amazon.com homepage and directs shoppers to nearly 20000 American shops across the 50 states. Online customers can search for goods through 25 product categories such as back to school home kitchen pet supplies and books. Amazon vice president Nicholas Denissen said the [read more]

Trump will slap 10% tariffs on $200 billion in Chinese goods — and they will go to 25% at year-end

President Donald Trump will impose 10 percent tariffs on $200 billion worth of Chinese imports and those duties will rise to 25 percent at the end of the year. The action announced by the Trump administration Monday escalates a trade conflict between the worlds two [read more]

G20 trade ministers say WTO reform 'urgent' as new Trump tariffs loom

Trade and investment ministers from G20 countries meeting in Argentina said there was an urgent need to improve the World Trade Organization a joint statement said on Friday. With President Donald Trump readying tariffs on another $200 billion in Chinese goods the ministers said they were stepping up the dialogue on international trade disputes according to the statement issued at the summit. It did not provide any [read more]

European Central Bank holds interest rates steady as economy ticks over

The European Central Bank (ECB) left benchmark interest rates unchanged on Thursday with policymakers likely to argue the regional economy is robust enough to absorb spare capacity and generate inflation. In a subtle change to the banks guidance the ECB announced plans to end bond purchases at the end of year and keep interest rates [read more]

Apple has hired a top exec from a hospital chain to help run its employee health clinics

Apple has made a new senior hire for its health team M. Osman Akhtar a chief operating officer of a nonprofit network of hospitals in Minnesota. Akhtar will be reporting to Sumbul Desai a senior employee on the health team whos been staffing up Apples employee health clinics called AC Wellness. Akhtar will work with Desai on the medical clinics according to people familiar with the hire although he may also be involved in other projects. Akhtar has been responsible for running [read more]

New Apple Watch is luring baby boomers by focusing on health and wellness

Apple has a new demographic in mind for its new Apple Watch your parents. On Wednesday at its product showcase in Cupertino California Apple announced a host of new health features for the fourth series of the Apple Watch that are clearly targeted at aging users. The device recognizes when a user has fallen and has another feature [read more]

Hershey to buy cheese puffs maker Pirate Brands for $420 million

Hershey agreed on Wednesday to buy Pirate Brands from B&G Foods for $420 million in an allcash deal giving the chocolate maker rights over snack brands such as Pirates Booty Smart Puffs and Original Tings. The deal is expected to add to Hersheys financial targets as it delves into the more than $2.5 billion cheese puffs market the company said in a statement. [read more]

Jack Ma's succession plan offers an important lesson in leadership

Chinese entrepreneur Jack Ma shared an important lesson in leadership when he decided to step down as chairman of Alibaba the ecommerce company he created. The tech titan revealed Monday that he has started the process of passing the Alibaba torch to current chief executive officer Daniel Zhang who is due to take over as chairman of the board in [read more]

Trump's sanctions on Iran could push oil prices above $100 per barrel

U.S. sanctions on Irans energy industry when they come into effect in November could potentially drive oil prices above $100 per barrel according to an industry expert. U.S. West Texas Intermediate crude oil futures traded at about $68 per barrel on Tuesday while Brent crude futures sat at nearly $78. If there was not that set of sanctions I think prices would [read more]

Alibaba ties with Russian firms on e-commerce platform that will use Moscow's own payment system

Chinese ecommerce giant Alibaba signed a new strategic partnership with a number of Russian firms Tuesday which will form a new ecommerce platform and utilize Russias own payments system. The deal signed at the Eastern Economic Forum (EEF) in Vladivostok Russia includes the sovereign wealth fund of Russia the Russian Direct Investment Fund (RDIF) alongside mobile operator MegaFon and internet group Mail.ru. The partnership is [read more]

China isn't likely to let the yuan weaken much further, survey of experts shows

Chinas leadership is prepared to let the countrys currency weaken to support its exporters as global trade tensions deepen experts told CNBC. But they said Beijing will prevent any disorderly depreciation in the dollaryuan exchange rate beyond 7 a politically sensitive level upon which Washington may seize to label China a currency manipulator. On Thursday afternoon the yuan was at about the 6.84 level to the dollar. Beijings currency policy stands at a crossroads this month. The outlook for the [read more]

Japan posts fastest economic growth since 2016 in the second quarter

Japans economy grew in AprilJune at its fastest pace since 2016 thanks to capital spending rising more quickly than earlier estimated although global trade tensions and a string of natural disasters pose risks to the outlook. Revised Cabinet office data showed the economy grew an annualized 3.0 percent in AprilJune handily beating economists median estimate for 2.6 percent gain and posting the fastest growth since the start of 2016. The preliminary reading was for [read more]

Jack Ma Announce Alibaba Secession

Alibaba announces Jack Ma succession plan CEO Daniel Zhang to take over as chairman in a yearAlibaba said on Monday that CEO Daniel Zhang will take over as chairman of the board in a year succeeding current executive chairman Jack Ma.Ma will remain in his role as executive chairman for the next 12 months to ensure a smooth transition.Ma a former English teacher cofounded Alibaba which started as an ecommerce marketplace and has expanded to become a global tech juggernaut.Alibaba on Monday said that chief [read more]

US trade deficit jumps by the most in 3 years

The U.S. trade deficit increased to a fivemonth high in July as exports of soybeans and civilian aircraft declined and imports hit a record high suggesting that trade could be a drag on economic growth in the third quarter.The increase was the biggest monthly widening since 2015.The Commerce Department said on Wednesday the trade gap jumped 9.5 percent to $50.1 billion widening for a second straight month. Data for June was revised to show the trade deficit rising to [read more]

Sterling jumps as Bloomberg reports Germany and Britain to drop key Brexit demand

Sterling jumped on Wednesday rebounding off a twoweek low after a Bloomberg report that the United Kingdom and Germany were prepared to drop a key sticking point on Brexit negotiations fueled hopes of a breakthrough in talks.Investors rushed to buy the currency after the report lifting it nearly one percent to a threeday high of $1.2983. Against the euro the British currency rallied half a percent [read more]

Trump accuses social media companies of interfering in 2016 and 2018 elections

President Donald Trump accused social networks of interfering in the 2016 presidential election and Novembers midterm elections. Trump told online conservative publication The Daily Caller he thinks big tech firms already have intervened in the midterms and said Facebook and Google intervened in the 2016 presidential election on behalf of Democratic presidential candidate Hillary Clinton. I mean the true interference in the last election was that if you look at all virtually all of those companies are super liberal [read more]

Mercedes just launched its first all-electric SUV as it looks to take on Tesla

MercedesBenz launched its first totallyelectric SUV on Tuesday the latest big car manufacturer to make a major play in the burgeoning electric vehicle (EV) sector. The MercedesBenz EQC was unveiled at an event in Stockholm Sweden and is the first vehicle produced under Mercedes new technology brand EQ. It has a provisional electric range of over 450 kilometers according to the New European Driving Cycle and its combined carbon dioxide emissions are zero grams per kilometer again according to provisional figures. The vehicles [read more]

Warren Buffett explains the enduring power of stock buybacks for long-term investors

Berkshire Hathaway owns many stocks that repurchase shares and pay dividends including what is now its biggest holding Apple. Buffett has long benefited from owning stocks that reward shareholders through both methods. In an interview with CNBC this week when asked whether investors should be worried about the stock market at a record level he said that buybacks make owning the iPhone maker a nolose situation right now. Id rather have it go [read more]

Trump's trade war with China is 'the biggest risk to the global economy,' BlackRock exec says

President Donald Trumps trade policies pose the greatest threat to global economic growth according to the vice chairman of the worlds largest money manager. In an interview Tuesday BlackRocks Philipp Hildebrand also described the Federal Reserves current pace of credit tightening as healthy and necessary. The U.S. central bank which began tightening monetary policy in 2015 has raised rates twice this year and is widely expected to do so again this month and in December. [read more]

Amazon Sets Its Sights on the $88 Billion Online Ad Market

Verizon doesnt sell its mobile phones or wireless plans over Amazon. Nor does it offer Fios its highspeed internet service. But Verizon does advertise on Amazon.On Black Friday last year when millions of online shoppers took to Amazon in search of deals a Verizon ad for a Google Pixel 2 phone buy one and get a second one half off could be seen blazing across Amazons home page. And on July 16 what Amazon [read more]

Tech Giant Like Alibaba & IBM Rushing For Blockchain -Related Patents

Tech giants Alibaba and IBM are vying for the top spot on a new list that ranks global entities by the number of blockchainrelated patents filed to date published August 31 by iPR Daily.iPR Daily a media outlet specializing in intellectual property says it consolidated data as of August 10 from across China the EU America Japan and South Korea as well consulting the International Patent System from the World Intellectual Property Organization (WIPO).Chinas Alibaba only just seals [read more]

Strong US Economy Pushed Unemployment To The Lowest Level Since 1969

The rampaging U.S. economy is pushing unemployment to the lowest level since the 1960sThe U.S. economy is stoked.How stoked Any month now the unemployment rate is likely to fall to the lowest level since 1969 reflecting the longest sustained burst in hiring since the internet boom some two decades ago.The jobless rate slipped to 3.9% in July. If it falls just a bit further to 3.7% it would reach a nadir last seen shortly after the famed Woodstock music festival 49 [read more]

China's slowing demand for oil is a serious concern for the Middle East

The risk of declining Chinese demand for oil is worrying Middle East officials more than Irans supply curbs as a result of U.S. sanctions. Bahrain and Omans oil and gas ministers both told CNBC Monday that Chinas demand for oil could decline on the back of its trade dispute with the U.S. that has seen tariffs imposed on a wide range of Chinese imports. I think there is a risk on the demand side Bahrains Oil Minister Sheikh Mohammed [read more]

Warren Buffett: The iPhone is 'enormously underpriced'

Warren Buffett is still a big believer in Apple. The Oracle of Omaha was asked if he bought more shares in the technology giant after the end of the June quarter. Buffetts Berkshire Hathaway increased its stake in Apple by 5 percent in the second quarter according to a 13F regulatory filing. We bought just a little more he said Thursday on CNBC in an interview with Becky Quick. Earlier [read more]

While a 'battle royale' plays out in the US stock market, one strategist finds better opportunity abroad

Wall Street just ended its best August in years with the S&P 500 jumping more than 3 percent in its best August performance since 2014 while the Nasdaq had its best in 18 years. It doesnt get much better than this according to one strategist and that may be the problem. The shorterterm data looks good secondquarter revision to GDP looks good earnings look great but if this is close to just it doesnt getting any better [read more]

Gold Holds Precariously Just Above $1,200

As of 400 PM Eastern standard time spot gold is trading just above $1200 at $1200.09. This occurred after trading to a low today of $1196.45 before slightly recovering. Although dollar strength can be cited as an underlying force it is selling pressure that is dominating the markets today. According to the KGX (Kitco Gold Index) todays decline of $6.10 is composed of mostly selling pressure accounting for $4.50 of todays lower pricing with the remaining $1.60 attributable directly to dollar strength. [read more]

Blockchain jobs are booming in Asia, even as cryptocurrency prices struggle

Blockchain and cryptocurrency jobs are increasingly appealing to job seekers from more conventional sectors in Asia even as the technologys most famous use case struggles on the price front. Blockchain technology which underpins cryptocurrencies such as bitcoin is a digital record of transactions that cannot be altered. It has the potential to not only disrupt much of finance but also many other industries. The muchhyped technology has been adopted over the last two years by both startups and [read more]

Inside Alibaba's new kind of superstore: Robots, apps and overhead conveyor belts

Alibaba is rapidly expanding its new offline retail store Hema throughout China. The tech giant has grown its brickandmortar supermarket to 65 stores over the last year. And although it may seem a shift from Alibabas tech roots the store operates on cuttingedge innovations. Alibaba has a very ambitious strategy of the convergence of online and offline retail said Gil [read more]

Amazon's surge drives the Nasdaq 100 to an all-time high

Shares of Amazon gained nearly 4 percent Wednesday after a price target boost from Morgan Stanley and it drove the Nasdaq 100 to an alltime high. The ecommerce giant ended trading at $1998.10 and contributed more than 28 positive points to the market index. That beats out Apples 14point positive impact and Microsofts 12point positive impact. The index has been [read more]

Facebook just made a huge commitment on renewable energy

Facebook has committed to cutting its greenhouse emissions by 75 percent and powering global operations with 100 percent renewable energy by the end of 2020. In a statement Tuesday the tech giant said it had signed contracts for more than three gigawatts of new solar and wind energy since 2013 when it purchased wind power for the first time. The new commitment builds upon the firms 2015 aim of [read more]

Chinese tech companies are growing more powerful, and banks are turning to them for help

In another sign of the growing clout of Chinese technology giants many local banks are looking to the firms for help rather than build their own inhouse services. Its not that banks in the worlds secondlargest economy are at risk of being replaced or disrupted. Rather they are under pressure to work closely with financial technology partners so they can beat competitor banks according to Nicholas Zhu vice president and senior analyst at Moodys financial institutions group in Beijing.Lack of investment options high smartphone and internet [read more]

WTI rebounds from $68.20 ahead of API data

WTI (oil futures on NYMEX) head lower on Tuesday falling 0.40%. During the US session bottomed at $68.20 a barrel and then rebounded to $68.65 trimming daily losses. Overall the barrel continues to hover around 2week highs more than 6% above August low. Crude started the day with a positive tone supported by supply disruption worries as the OPEC cut back output while Venezuelan exports have continued decreasing. But a stronger US dollar and a decline in base metals pushed oil to the downside. At 2030 GMT the [read more]

China central bank raises yuan mid-point by the most in nearly 15 months, spurs dollar buying

Chinas central bank raised its daily guidance rate for the yuan by the most in nearly 15 months on Tuesday as part of its latest move to put a floor under the currency as a trade war with the United States grinds on. But the near 0.7 percent jump in the official midpoint fixing sparked more corporate demand for cheaper dollars capping the yuans gains in the spot market. The Peoples Bank [read more]

World Bank's Blockchain Bond Experiment Raises $81 Million

The World Bank has exceeded its $73 million goal for its upcoming blockchain bond by $8 million according to a new announcement.As previously reported by CoinDesk Australias Commonwealth Bank (CommBank) intends to settle the bond dubbed bondi (for blockchain operated new debt instrument) on Tuesday marking the first time the World Bank settles a blockchain bond. While the bank originally reported it would settle $100 million AUD ($73 million U.S.) it reported Friday that it had raised as much as $110 million AUD (roughly $81 million U.S.).The bonds investors include CommBank QBE Insurance First State Super NSW [read more]

Gold consolidates in a range near 2-week tops

Gold struggled to build on Fridays strong upsurge to twoweek tops and was seen consolidating in a narrow trading range at the start of a new trading week. Comments by the Fed Chair Jerome Powell at the closely watched Jackson Hole Symposium reaffirmed gradual rate hike approach but downplayed the need for any aggressive policy tightening. Powells speech prompted investors to trim their bets for a December rate hike move and provided a strong lift to the nonyielding yellow metal on Friday.Investors looked past Powells perceived dovish [read more]

Trade war: One Chinese factory says it's fighting to 'survive' in the wake of Trump's tariffs

Mark Wang the owner of a Chinese factory is in a state of limbo these days thanks to President Donald Trumps trade war. The 20year veteran of the countrys gift industry said he received a letter in early August from his biggest customer a U.S. retailer he declined to name urging him to split the cost of a 10 percent duty that the retailer said was being imposed on his products by the Trump administration. Ten percent is too [read more]