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 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 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 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]

This little-talked about correlation suggests bitcoin may end year 'explosively higher': Tom Lee

If youre trying to figure out when bitcoins slump will end you may want to look at the emerging markets. According to Fundstrat Global Advisors Thomas Lee theres an important correlation budding between emerging markets and bitcoin the most dominant coin in the cryptocurrency space. Both really essentially peaked early this year and they both have been in a downward trend the firms head of research said Friday on CNBCs Trading Nation. Until emerging markets begin to turn I [read more]

A battered Trump may escalate the US-China trade war ahead of midterms

Besieged by increasing legal concerns U.S. President Donald Trump is thought to be looking to shore up his political position ahead of the midterm elections in November.One way to do so could be to distract voters from the problems at home by shifting the focus to the ongoing trade war with China analysts said. In other words the U.S. may be on the verge of escalating the conflict between the worlds two largest economies.Last [read more]

Overwhelming response to world first blockchain bond

The worlds first public bond created and managed using only blockchain had support from seven investors Commonwealth Bank of Australia the sole lead manager of [read more]

AUDUSD Up After Leadership Change In Australia

Scott Morrison has been elected Liberal Leader and will become Australias next Prime Minister after beating Peter Dutton 4540 in a leadership ballot.The Aussie dollar spiked towards US73 cents today after Scott Morrison won the Liberal Partys leadership spill.ANZ currency strategist Daniel Been told Business Insider that the market reacted to increased certainty following the result.However Been said global factors could soon see the Aussie retest last weeks low of around US72 cents.The Aussie dollar [read more]

Apple hired scores of ex-Tesla employees this year, and not just for its car project

Apple has attracted scores of employees away from Tesla since late 2017 including manufacturing security and software engineers and more recently supply chain experts according to several current and former Tesla employees and LinkedIn data. This Tesla talent is not only going to Apples stealthy vehicle initiative Project Titan. Apple also generally needs software display optics and batterytech talent for its other products. While Apple contracts out much of its manufacturing the company seems to be [read more]

Alibaba Shares Jump As Revenues Up 61%

Alibaba Group reported fiscal firstquarter earnings on Thursday that beat expectations boosted by its core ecommerce business and fastgrowing cloud division.Heres how the company did for the three months to the end of JuneRevenue of 80.92 billion yuan ($12.23 billion) versus expectations of 80.75 billion yuan according to analysts surveyed by Reuters. This was a 61 percent rise from the 50.18 billion yuan reported in the same period last year.Net income of 8.69 billion yuan a 40.8 percent decline from the 14.68 billion yuan reported in the fiscal first [read more]

Tim Cook Is Poised to Reap $120 Million of Stock After Rally

Apple Inc.s Tim Cook is set to collect stock worth about $120 million this week thanks to a runup in shares of the iPhone maker.On Friday Cook stands to receive 280000 shares tied to his continued service as chief executive officer. Hell get as many as 280000 additional shares if Apples stockmarket return over the preceding three years exceeds at least twothirds of the firms in the S&P 500. [read more]

Facebook and Twitter remove accounts linked to Russia and Iran campaigns

Facebook and Twitter say they have suspended or removed accounts linked to Iran and Russia over inauthentic or manipulating behaviour. More than 650 Facebook pages and groups were said to have been identified as misleading according to founder and chief executive Mark Zuckerberg.Meanwhile Twitter said it suspended 284 accounts with apparent links to Iran.It comes a day after Microsoft said it had thwarted Russian cyberattacks against US conservative groups. On Tuesday Facebook said it had discovered multiple accounts that [read more]

Longest Bull Marketing In History.

The bull market in U.S. stocks on Wednesday became the longest in history with even President Donald Trump chiming in as optimistic investors argue that the journey is far from over.The bull has thrived amid a decade of financial and political upheaval thanks in part to the allyoucaneat liquidity feast hosted by the Federal Reserve and other major central banks. Now the Fed has shifted to a tighter monetarypolicy regime even as the same risks that have dogged this market over the years including elevated valuations persist prompting some pundits to predict an [read more]

Trump Not Please With Fed For Raising Interest Rate

U.S. President Donald Trump said on Monday he was not thrilled with the Federal Reserve under his own appointee Chairman Jerome Powell for raising interest rates and said the U.S. central bank should do more to help him to boost the economy.In the middle of international trade disputes Trump in an interview with Reuters also accused China and Europe of manipulating their respective currencies.American presidents have rarely criticized the Fed in recent decades because its independence has been seen as important for economic [read more]

DJIA Is On The Verge Of Breaking Out After 6 months Correction.

The Dow Jones Industrial Average was on the brink of bursting out of correction territory for the first time in more than six months underscoring some signs of renewed optimism on Wall Street.The bluechip benchmark has so far failed to trade 10% above the closing low of 23533.20 hit on March 23 but could do so with a close at 25886.52 or higher. It entered correction territory on Feb. 8 when it fell 10% from its recent peak along with the S&P 500 index SPX 0.24%The Dow DJIA 0.35% stands less [read more]

Central Bankers Annual Meeting In Jackson Hole Wyoming US

On Thursday the KC Fed will release the schedule for the annual Jackson Hole Symposium speakers and titles. At the moment we know only the general topics which are so broad that they could be about anything. Friday morning will see the presentation by Fed Chairman Powell. While more will follow market participants will start checking train schedules as Art Cashin often says.Will there be a message from Jackson HoleThe timing is clear. The implications are not. Expect some variant of the following [read more]

US-China Trade Talks Will Focus On Yuan Weakness

USChina trade talks will focus on yuan weakness experts sayThe weak Chinese yuan will be an important issue U.S. and China officials will address during the trade talks later in August analysts say.The U.S. will demand that Beijing let the yuan appreciate after the Chinese currency appreciated almost 6 percent this year they say.The Chinese yuan weakness will be a focal point during the U.S.China trade talks in late August as both countries grapple with the fallout from recent fluctuations in the currency [read more]

Oil Lower On Concerns Over Slowing Global Economic.

Oil prices edge down on concerns of slowing economic growthOil prices fell on Monday over concerns of slowing economic growth.International Brent crude oil futures were at $71.59 per barrel at 0413 GMT down 24 cents from their last close.U.S. West Texas Intermediate (WTI) crude futures were down 24 cents at $65.67 per barrel.Oil prices fell on Monday as concerns over slowing economic growth weighed on markets.Brent crude futures which act as a benchmark for international oil [read more]

US shale growth will offset global production problems over the coming months, analysts say

A sustained upswing in U.S. shale growth is likely to offset global production problems over the coming months energy analysts told CNBC on Wednesday. The mood music in the energy market has been heavily influenced by a flurry of demandside developments of late with investors continuing to monitor an escalating trade war between the U.S. and China the financial crisis in Turkey and a resurgent U.S. dollar. [read more]

Market awaits Trump tweet on strong dollar as China's currency gets weaker

The dollar has been strengthening so much that some market pros are wondering when the White House will start tweeting about it. The dollar index was flattish Wednesday but trading near its highest level in more than year as various currencies like the South African rand and Mexican peso were pummeled. But the currency that might get the most attention in Washington is the Chinese yuan which was weakening on Chinas softer economic reports and fears about the economic effects of its trade battle [read more]

Erdogan says Turkey will boycott US electronic goods, including Apple’s iPhone

Turkish President Recep Erdogan has said Turkey will boycott U.S. electronic goods including Apples flagship iPhone device. Erdogan maintained an assertive stance in a speech Tuesday and claimed he had been taking necessary measures to arrest the recent slide in Turkish assets. Speaking at a Symposium in Ankara Erdogan said Turkish businesses must continue to produce and export the countrys own goods. He added that U.S. electronics would [read more]

Latest: Warren Buffett's Berkshire Hatheway Buy Another $12.4 million Apple Shares.

Buffett Berkshire Hathaway buys another 12.4 million Apple shares $46.6 billion stakes in the tech giant as of the end of June.It is an unbelievable company Warren Buffett said of Apple earlier this year.Warren Buffett Berkshire Hathaway Inc. continued to load up on technology giant Apple Inc. in the second quarter.Berkshire BRK.B 0.32%  increased its holdings of Apple AAPL 0.42%   stock by 12.4 million shares in the quarter taking its stake to $46.6 billion by the end of June according to [read more]

DJI Down For 4th Straight Day, As Fear Of Turkey Problem Could Spill Over To Other Part Of The World

U.S. stocks closed lower Monday with the S&P 500 and the Dow Jones Industrial Average down for a fourth straight session as the ongoing turmoil in Turkey dampened investors appetite for riskier assets.While the U.S. doesnt have much direct economic exposure to the country instability in the region sparked concerns that its problems could spill over to other parts of the world exacerbating the uncertainty surrounding trade relations between the U.S. and its major trading partners.How did the benchmarks fareThe Dow Jones [read more]

Bitcoin's value will come in time, even if investors are spooked now, crypto advocate says

Bitcoins narrative is hard to pin down but as with early internet stocks real traction will come in time cryptocurrency advocate Meltem Demirors told CNBC on Monday. New technologies that shift the paradigm take a long time to really understand Demirors who acts as chief strategy officer at digital asset manager CoinShares said on CNBCs Fast Money. Despite bitcoins aspiration to be a safe haven asset the cryptcurrency has not seen a rally with the stumble of the Turkish lira [read more]

Nikkei leads advance as Asian shares shrug off recent uncertainty over Turkey crisis

Asian shares were mixed on Tuesday as some regional markets bounced back one day after declining over jitters related to economic uncertainty in Turkey. The Nikkei 225 rose 1.22 percent with all sectors trading higher after the yen gave up some of its recent strength amid safe haven demand on uncertainty in Turkey. The yen traded at 110.77 to the dollar at 1013 a.m. HKSIN compared to levels around the 110.3 handle seen during Asia Monday trade. [read more]

A move in crude oil to $50 could come as quickly as a surge above $100, says veteran oil investor

Crude oil prices just posted their longest losing streak in three years registering six straight weeks of declines and one veteran oil watcher says there could be much more volatility ahead. Tom Kloza cofounder of the Oil Price Information Service told CNBCs Futures Now this week that oil prices have been so volatile that a slump to $50 or even a spike above $100 could not be completely ruled out. If we had an oil volatility index it [read more]

Turkish lira hits new record low after last session's free fall

The Turkish lira touched a new record low in early Asian trade after its free fall in the previous session. On Monday the lira last traded down by around 9 percent against the greenback at around 6.9915 at 1105 a.m. HKSIN. It had earlier dropped to a fresh alltime low of 7.24 before paring some losses after the Turkish government moved to assuage market nerves frayed by the currencys recent fall. [read more]

All you need to know about the escalating diplomatic row between Saudi Arabia and Canada

Saudi Arabia and Canada are currently locked in a diplomatic spat over human rights with both countries refusing to back down despite a breakdown in future trade deals suspended passenger flights and a flurry of other sanctions. The war of words between the two countries stems back to a series of tweets from Canadas Foreign Ministry [read more]

The World Bank is preparing for the world's first blockchain bond

The World Bank has mandated Commonwealth Bank of Australia to arrange the worlds first blockchain bond. The Kangaroo bond referring to foreign bonds issued in Australia in the local currency has been named bondi an acronym standing for Blockchain Offered New Debt Instrument. (Its also a reference to Bondi Beach an iconic spot in Sydney.) According to the institution the bond will be the first in the world to be created allocated transferred [read more]

Here's the best time to buy bitcoin, according to Yale data

The price of bitcoin is known for wild swings after all its a decentralized cryptocurrency that isnt backed by any government.Case in point Wednesday bitcoins price dropped by over 8 percent after reports that the U.S. Securities and Exchange Commission delayed a decision on a new type of financial product around the cryptocurrency. Bitcoin traded near $6450 at 1030 a.m. EST according to industry website CoinDesk.And its seen even more dramatic moves. After starting 2017 at under $1000 the value of a single bitcoin topped $19000 in December 2017 before dropping. [read more]

Walmart and invest $500 million in a Chinese online delivery company

A Chinese online grocery delivery company DadaJD Daojia said on Thursday it has raised $500 million from U.S. retailer Walmart and in its latest round of financing.DadaJD Daojia was formed from the merger of JD Daojia which is JD.coms onlinetooffline business and Dada Nexus a large crowdsourcing delivery platform in China with operations in more than 400 major cities.JD Daojia delivers goods from local supermarkets and other partners via a locationbased smartphone app and has about 20 million monthly active users.By working with strong partners and [read more]

China slaps 25% tariffs on $16 billion worth of US goods

China said Wednesday it will retaliate against the latest round of U.S. tariffs on Chinese imports. The Chinese Ministry of Commerce announced a 25 percent charge on $16 billion worth of U.S. goods. The 333 goods being targeted by China include vehicles such as large passenger cars and motorcycles. Various fuels are on the list as well as fiber optical cables. [read more]

Trump's pressure on trade may force China to act faster on reforms, analysts say

U.S. trade pressure on China could push Beijing to speed up efforts to restructure its economy some local analysts say. President Donald Trump has threatened tariffs on more than $200 billion worth of Chinese goods. After already implementing duties on $34 billion worth of imports his trade office is planning to impose tariffs on an additional $16 billion in Chinese goods on Aug. 23. Chinas Ministry of Commerce has responded [read more]

Bitcoin At $6,270 And After Bombshell From US SEC

The total market capitalization for all cryptocurrencies just fell to its lowest point in 2018.The developments come after the US Securities and Exchange Commission (SEC) delayed a decision on a proposed bitcoin exchangetraded fund (ETF). The news triggered a market reaction ultimately sending the total value of all cryptocurrencies down to $227.8 billion on Wednesday the lowest level since November 2017 according to data from CoinMarketCap. The drop to ninemonth lows marks a 10.7 percent depreciation on a 24hour basis. As of press time the market capitalization had [read more]

Tesla has its busiest trading day since 2014 after Musk tweets he plans to take company private

Even after an extended trading delay Tesla had its busiest day on the stock market since 2014. Some 30.4 million shares traded hands on Tuesday after CEO Elon Musk put out a surprise tweet announcing his intention to take the electric car company private at $420 a share. It was the most active day for the stock since February 2014 according to FactSet and [read more]

If you invested $1,000 in Alibaba when it went public, here's how much you'd have now

Alibaba is one of the most prominent Chinese technology names around the world and has a market value of about $463 billion. So far this year its stock price has risen about 3.6 percent with shares hitting highs in June. If you invested in Alibaba four years ago when it made headlines as the thenbiggest initial public offering ever youd have made some decent returns. According to CNBC calculations a $1000 investment made at the [read more]

China stock market plunge will not force the country to give up in its trade war with US

Amid a U.S.China trade war the two major stock indexes in China have lost onequarter of their value from highs this year.Meanwhile the U.S.benchmark the S&P 500 is inches away from setting a record and in three weeks will post the longest bull market in its history.This would seemingly give Donald Trump an upper hand has he maneuvers the trade fight. You can bet that if the U.S. stock market was suffering like that the president would feel the pressure.But not so [read more]

Bitcoin, 'the best house in a tough market,' is bouncing back, says Wall Street bull Tom Lee

Despite bitcoins tumble over the past two weeks Wall Street bull Tom Lee says the cryptocurrency is gradually regaining market share which should comfort bitcoin buffs.The news that we have seen from the SEC saying bitcoins a commodity to ... the potential for an exchangetraded fund is causing investors to decide that bitcoin is the best house in a tough market Lee who is Fundstrat Global Advisors managing partner said on CNBCs Fast Money. He was referring to the U.S. Securities and Exchange Commission (SEC).Bitcoin [read more]

GBP/USD facing 1.29 as hard Brexit fears give the GBP a hard time

The GBPUSD is trading into the bearish side as the new trading week begins to unwind and traders are remaining on edge as Brexit concerns return to the forefront.The Bank of Englands (BoE) Governor Mark Carney stepped up recently and voiced concerns over current Brexit conditions stating that the everrising odds of a hard Brexit scenario are uncomfortably high and UK ministers are warning that European Union leaders in Brussels are at risk of breaking their own laws if they continue to refuse to give up [read more]

Market moves suggest China will blink first in the trade war, but US political pressures hint otherwise, experts say

Trade tensions between the worlds two largest economies have ratcheted up significantly in the past weeks putting pressure on both the U.S. and China to end the standoff. But which side will blink firstThe The U.S. has already imposed tariffs on $34 billion in Chinese imports which were met with retaliatory charges by the Asian nation. After President Donald Trump instructed U.S. Trade Representative Robert Lighthizer to consider raising proposed tariffs on $200 billion in Chinese goods to 25 percent from 10 percent [read more]

Bank of England raises interest rates for the second time since the financial crisis

The Bank of England announced a rate hike despite ongoing uncertainty over the future of the U.K. economy. The Monetary Policy Committee voted unanimously for an increase in rates from 0.5 to 0.75 percent on the back of a strong labor market and credit growth. The central bank said in a statement that if its macroeconomic forecasts proved right the BOE would probably have to increase rates further albeit gradually. In its latest inflation report released Thursday [read more]

Southeast Asian governments, wary about Trump's policies, look to Pompeo for clarity

U.S. engagement with Southeast Asia under President Donald Trump is typically framed as a counter to Chinese dominance in the region. While the issue of Beijings influence will likely come up during Secretary of State Mike Pompeos tour of the area this week it certainly wont dominate his talks with policymakers. Days after announcing a $113 million infrastructure fund for AsiaPacific economies as part of the White Houses IndoPacific [read more]

If you invested $1,000 in Apple 10 years ago, here is how much you would have now

Apple shares hit a historic $1 trillion market cap value on Thursday becoming the first public U.S. company to ever reach the milestone. The stock briefly hit the $207.05 per share price that was needed to bring Apple to the $1 trillion mark before retreating CNBC reports. So if you invested in Apple a decade ago youd probably be feeling pretty good about it today. According to CNBC calculations a $1000 investment made in early August 2008 would be worth [read more]

Apple just updated its share count, here's what it will take to hit $1 trillion in market cap

Apple has a new share price threshold to hit $1 trillion in market value. The company revealed an adjusted outstanding share count of 4829926000 Wednesday alongside the companys thirdquarter results. That factors in hefty stock buybacks and nudges the trilliondollar per share price to $207.05. Investors had previously been looking for a share price of $203.45 to hit the record market cap. Shares of Apple gained [read more]

As Trump's tariffs start to bite, China pledges it'll keep its economy stable

Chinas top leaders on Tuesday pledged economic stability just as data from the worlds secondlargest economy suggested that the country was starting to feel a pinch from U.S. tariffs. In a statement carried by Chinas state media after a meeting of the Politburo a top decisionmaking body of the ruling Communist Party Beijing said it will take targeted measures to solve issues in the economy. The Chinese economy is facing some new problems and new challenges said the [read more]

Starbucks CEO confirms Alibaba partnership, plans to expand delivery to 2,000 stores in China

Starbucks has officially struck a partnership with Alibaba Group with a multipronged plan to boost the beverage companys digital and physical presence in China Starbucks President and CEO Kevin Johnson told CNBC on Wednesday. In the exclusive agreement the global fastcasual chain will leverage all of Alibabas properties including delivery [read more]

Apple sells 41.3 million iPhones, a slight miss

Apple sold 41.3 million iPhones during the quarter ended June 30 which missed Wall Street estimates the company announced Tuesday. Wall Street was looking for 41.79 million iPhones sold during the quarter according to a FactSet consensus estimate. Apple sold 41.03 million iPhones during the same quarter last year. Apple beat Wall Street on the average selling price (ASP) of its iPhones however. Apples iPhone ASP during the quarter was $724 versus Wall Streets $693.59 estimate. [read more]

As Trump's tariffs start to bite, China pledges it'll keep its economy stable

Chinas top leaders on Tuesday pledged economic stability just as data from the worlds secondlargest economy suggested that the country was starting to feel a pinch from U.S. tariffs.In a statement carried by Chinas state media after a meeting of the Politburo a top decisionmaking body of the ruling Communist Party Beijing said it will take targeted measures to solve issues in the economy.The Chinese economy is facing some new problems [read more]

Japan's retail sales pick up, in a positive sign for spending

Japans retail sales climbed more than expected in June due to increased spending on fuel appliances and cosmetics in a positive sign that households are growing more confident in the economy. The 1.8percent annual increase in retail sales in June was more than the median estimate for a 1.6percent annual gain and follows a 0.6percent annual increase in May. The results for June showed retail sales have [read more]

Microsoft health unit is a 'multi-billion dollar business,' medical chief says

The health unit at Microsoft is a multibillion dollar business the companys chief medical officer said on CNBCs new Beyond The Valley podcast. Simon Kos who is a doctor by training joined Microsoft in 2010 and his role is to give guidance on the U.S. companys work in the health care industry. Microsoft has 1100 people working in its health unit and the business claims 168000 customers in the industry. The software giant creates products for hospitals and other institutions within [read more]

Big Gains Help Boost Alibaba's Global Dominance

Alibaba is trying to maintain a torrid growth rate as it moves beyond its home market.Even after a partial selloff Alibaba (NYSEBABA) remains one of the biggest winners of the second quarter. The Chinese ecommerce megafirm reported that quarterly sales had jumped by 76 percent yearoveryear. Those sales are now approaching the $10 billionmark.That gain looks a bit bigger due to the favorable exchange rate. But even denominated in yuan Alibaba revenues were up at least 60 percent.The companys increasing dominance in one of the worlds hottest markets has been no secret with the [read more]

Oil on the high side as US crude inventories decline again, WTI looking for $70

Crude oil prices are seeing gains on Wednesday as expectations of a buildup in US supplies are easing off after data showed a surprise drawdown in US inventories on Tuesday. WTI crude barrels are trading near 69.60 after rebounding from yesterdays low of 68.35.According to the American Petroleum Institute (API) crude inventories in the US fell 3.2 million barrels last week helping to drive a floor underneath oil prices while markets were expecting a drawdown of only 2.3 million barrels.US crude imports also declined last [read more]

Bitcoin jumps above $8,200, adding to cryptocurrency's recovery this week

Bitcoin broke the $8200 level for the first time in two months Tuesday following weeks of bearish sentiment and a lack of new buyers. The worlds largest cryptocurrency surged as high as $8342.62 and rose more than 7 percent in the last 24 hours according to industry website CoinDesk which tracks a number of exchanges. The last time bitcoin traded above that key level was May 23. The digital currency is [read more]

Facebook explains why it's setting up a new hub in China

Facebooks subsidiary in China will be an innovation hub to support local tech talent according to a Facebook spokesperson.We are interested in setting up an innovation hub in Zhejiang to support Chinese developers innovators and startups the spokesperson told CNBCs Julia Boorstin. We have done this in several parts of the world France Brazil India Korea and our efforts would be focused on training and workshops that help these developers and entrepreneurs to innovate and grow.Reuters reported early Tuesday that the social media giant had set up [read more]

‘A storm is brewing’ in the US economy, says economist Diane Swonk

Even if there isnt a fullblown trade war the uncertainty surrounding tariffs can hurt the U.S. economy economist Diane Swonk told CNBC on Tuesday. The tariffs along with a strengthening dollar and rising rates all undermine the competitiveness of manufacturers and other exporters she said in an interview with Closing Bell. The [read more]

Tech Stocks Rise To Record On Big Earning Leading S&P 500 Climbed

Tech stocks rise to record before big earnings         The S&P 500 tech sector climbed 0.5 percent to close at a record helping lift the overall index by 0.2 percent.         Alphabet shares rose 1.1 percent while Facebook closed 0.6 percent higher. [read more]

Chinese investment in Israeli tech is growing, and it's 'quite welcome' for some

As the trade war between Washington and Beijing rolls on and investments from the mainland come under greater scrutiny in the U.S. and Europe Chinese companies are increasingly turning elsewhere. One country poised to gain in investment is Israel. Theres been a secular uptrend in Chinese investment in Israel for the past eight to 10 years but it has been accelerating said Steven Schoenfeld founder and CIO of BlueStar Indexes a firm that develops Israelfocused indexes and exchangetraded funds. [read more]

Aerospace titans Boeing and Airbus top $110 billion in orders at Farnborough

Boeing and Airbus have continued their battle to win the most business at the Farnborough International Airshow racking up commercial plane orders worth more than $110 billion. It should be noted that all the prices quoted are the planemakers official list prices with steep discounts likely to be negotiated by buyers. Additionally the gross dollar number includes loose commitments to future deals and updates to previously agreed contracts. The U.S. planemaker Boeing has the initiative inking deals over three days at the show [read more]

Wreck of Russian warship found, believed to hold gold worth $130 billion

A South Korean salvage team has reportedly discovered the wreck of a Russian warship that is believed to still contain 200 tons of gold bullion and coins worth 150 trillion won ($130 billion).The Russian Imperial Navy cruiser Dmitrii Donskoi which was sunk in a naval battle 113 years ago was discovered at a depth of more than 1400 feet about one mile off the South Korean island of Ulleungdo according to The Daily Telegraph.The U.K. newspaper reported that a joint team made up [read more]

Ethereum may drive blockchain to be as broadly adopted as the Internet, fintech CEO says

Blockchain and cryptocurrency may one day be as broadly adopted as the internet is today Jeremy Allaire CEO and cofounder of fintech company Circle told CNBC. Its a really fertile space in terms of the fundamental technical and infrastructure Allaire said on Fast Money Wednesday. One major driver for this possible occurrence ethereum. Right now ethereum has an enormous amount of developer activity Allaire said. One of the things that really catalyzed the cryptocurrency market last year [read more]

Fed Chair Jerome Powell Day 2, Testimony To House Financial Committee

Jerome PowellFaces Second Day of Questioning by House CommitteeFederal Reserve Chairman JeromePowell appeared before the House Committee on Financial Services WednesdayJuly 18 to face questioning from lawmakers on the Feds plans going forward.Powell also faced questioning Tuesday.Powell DecriesMinority Employment GapWhile Powell lauded thehistorically low unemployment rate in the U.S. he also noted that AfricanAmericans and Hispanics are still unemployed at a higher rate than whites.Groups with higherunemployment rates have tended to benefit the most as the job market hasstrengthened. But jobless rates for these groups are still higher than [read more]

Trump's approval ratings may hold clues to where US trade disputes are heading

From the tariffs on steel and aluminum imports in March to Julys list of $200 billion in Chinese goods that may be targeted by new American levies the U.S. administrations trade policies have repeatedly caught markets off guard. The U.S.China trade war continues to simmer and the White House is trading tariff threats with other nations so analysts are now looking beyond government pronouncements for alternative indicators that may clue them into where exactly Americas ongoing disputes are headed. [read more]

Mastercard has a new patent that could allow bitcoin transactions on credit cards

Consumers might one day be able to charge their purchases on their credit cards using bitcoin as a currency. On Tuesday Mastercard won a patent to protect a method that would manage fractional reserves of blockchain currency. At present Mastercard holders can only pay for things using currency that the government has declared as legal tender Seth Eisen Mastercards senior vice president for communications said. In the document published with the U.S. Patent and Trademark Office Mastercard said that there has [read more]

Fed Chair Jerome Powell

Federal Reserve chair Jerome Powell is not explicitly concerned about the flattening Treasury yield curve.Speaking before members of the Senate Banking Committee on Tuesday Powell was asked by Senator Pat Toomey (RPa.) about the declining spread between shortterm and longterm Treasury rates. Toomey explicitly referenced the narrowing of the spread between twoyear and tenyear Treasury notes which was sitting at 25 basis as of Tuesday morning the slimmest margin in ten years.The yield curve has become a top of mind issue for investors in recent months because an inversion of [read more]

UK PM May says Donald Trump told her to sue the EU over Brexit

Donald Trump has advised British Prime Minister Theresa May to sue the European Union to resolve the tense negotiations over Britains impending exit from the bloc. The American president told reporters Friday at a joint press conference with May that he had given the British leader a suggestion that she found too brutal. [read more]

China looks to get cozy with the EU in annual talks as Trump tariffs bite

The European Union will open an annual meeting with China on Monday and will be looking to fend off overtures for an antiU.S. alliance as China seeks a European counterbalance to U.S. tariffs. Premier Li Keqiang will host European Council President Donald Tusk and European Commission President JeanClaude Juncker in Beijing where the two sides could reinvigorate longrunning investment treaty talks with the expected exchange of markets access offers for the first time. The meeting is expected to produce a modest communique [read more]

China says its second-quarter GDP growth was 6.7%, meeting expectations

China on Monday posted secondquarter GDP growth of 6.7 percent from a year ago slightly lower than 6.8 percent in the first quarter of 2018 as Beijing has been cracking down on risky credit amid escalating trade tensions with the U.S. The official reading was in line with expectations from analysts polled by Reuters. The headline figure was no surprise as [read more]

France scores 2nd World Cup title with 4-2 win over Croatia

France has clinched its second World Cup title with a 42 win over Croatia. The dramatic final in Moscow featured a series of firsts and a pitch invasion orchestrated by Russian protest group Pussy Riot. France led 21 at halftime courtesy of the first owngoal and the [read more]

New tariffs threatened by the US would be more harmful to China than the first batch, says bank CEO

The proposed U.S. tariffs on an additional $200 billion in Chinese goods would hit the worlds secondlargest economy more severely than the previous custom duties did according to the chief executive of Southeast Asias largest bank. Thats because the latest list of targeted Chinese goods includes a greater number of finished products which can be replaced by similar ones from other sources Piyush Gupta the CEO of Singapores DBS Bank said on Friday. The Trump administration on Tuesday [read more]

US Q2 2018 Earning Season Kick-off Today, Here $ Things You Need To Know

The secondquarter earnings season will start in earnest this Friday with the first reports from big U.S. banks and investors are expecting the overall numbers to be strong.But against a backdrop of trade war concerns rising inflation a stronger dollar and tensions with many of Americas closest allies companies are likely to be cautious in offering guidance. The Trump Administration late Tuesday unveiled 10% tariffs on another $200 billion in Chinese goods. Beijing immediately promised retaliation.Without the trade war everything was in place for capital spending to rise and pull up real yields and wages [read more]

The US is on track to lose this trade war, economist Stephen Roach says

The U.S. and China are aged in the early innings of a trade war and prominent economist Stephen Roach says its the United States thats on track to lose. Trade wars are not easy to win. Theyre easy to lose and the U.S. is on track to lose this trade war Roach a senior fellow at Yale University and former Morgan Stanley Asia chair told CNBCs Squawk Box on Thursday. This is live ammunition. This is not just rhetorical [read more]

Australia: Strong economic releases - TDS

Analysts at TD Securities note that the Westpac consumer confidence index for Australia jumped to its highest level since November 20013 and registered its biggest monthly gain since May 2016.Expectations rose strongly over the month up 5.1% mm but gains in confidence were broad based. The economic outlook 5 years ahead was particularly notable up 9.8% mm.Home loans were stronger than expected up 1.1% mm in May (consensus 2.0% mm) following a revised drop of 0.9% mm in April. In terms of the breakdown investment lending remains weak dropping 0.1% mm while owneroccupier [read more]

China: Trade war escalates with US - TDS

The escalation of the trade war with the US administration moving forward with imposing tariffs of 10% on an additional $200bn of Chinese goods should not come as a major surprise according to analysts at TD Securities. Key Quotes President Trump had asked the US Trade Representatives office to draw up a list last month and according to US officials the lack of negotiation from China has led this action. The tariffs are scheduled to take effect after the [read more]

Trump: 'I have confidence' that Kim Jong Un will honor deal, but China may be working against it

President Donald Trump tweeted Monday that he is confident North Korean leader Kim Jong Un would honor an agreement they reached last month to pursue denuclearization.I have confidence that Kim Jong Un will honor the contract we signed & even more importantly our handshake. We agreed to the denuclearization of North Korea Trump tweeted. China on the other [read more]

Jeremy Hunt named UK foreign secretary after Boris Johnson resigns over Brexit controversy

Jeremy Hunt will replace Boris Johnson as the U.K. foreign secretary following Johnsons resignation Downing Street said in a statement Monday. Johnson resigned earlier in the day in protest against the governments decision to maintain close ties to the European Union. The Queen has been pleased to approve the appointment of Rt Hon Jeremy Hunt as Secretary of State for Foreign and Commonwealth Affairs British Prime Minister Theresa May said in a statement. Hunt [read more]

Pompeo sees hard road ahead but pursues North Korean denuclearization talks

U.S. Secretary of State Mike Pompeo brushed off North Korean accusations of gangsterlike diplomacy during negotiations in Pyongyang saying on Sunday he will pursue denuclearization talks after meeting his Japanese and South Korean counterparts. Pompeo said in Tokyo there was still a lot of work to do but he was confident North Korean leader Kim Jong Un would stick to a commitment to abandon nuclear weapons he [read more]

What data scandal? Facebook's stock notches an all time high, shrugging off user privacy woes

Facebooks stock closed at a record on Friday gaining nearly 5 percent as the company shook off the effects of a privacy scandal that engulfed it earlier this year.The social networks shares soared to an alltime intraday high of $203.64 a share before closing at a new record just below that price. That translated Facebooks market value to nearly $590 billion.Facebooks move pushed CEO Mark Zuckerbergs net worth closer to the top of the list in rankings [read more]

US June 2018 NFP

Investors will be looking to the U.S. nonfarm payrolls this Friday NYC time 0830am and if the jobs report is strong US dollar stands poised to rise and break out of its recent range and US stocks market to continual it gain for this week [read more]

Japan Government To Forecast Bullish CPI, GDP Growth In FY2019

TOKYO (Reuters) Japans government is set to forecast overall consumer price growth of 1.5 percent in the fiscal year that starts in April 2019 a draft document obtained by Reuters showed on Friday indicating some progress toward an end to deflation.The Cabinet Offices projections due to be submitted to the Council on Economic and Fiscal Policy governments top economic panel on Friday showed the economy likely to grow 1.5 percent in priceadjusted real terms in fiscal 2019. It is expected to expand 2.8 percent in nominal terms.The governments [read more]

Trump says China could face more than $500 billion in US tariffs

President Donald Trump said on Thursday tariffs on $34 billion worth of Chinese goods will kickin at 1201 a.m. EST on Friday morning. Another $16 billion are expected to go into effect in two weeks he said. Aboard Air Force One on his way to a rally in Montana Trump told [read more]

Oil: Prices have rallied, but OPEC will be key - NAB

Oil prices have reached a new level over the last few months with Brent briefly touching US$80bbl in May but the last month has seen prices moderately lower generally in the midtohigh 70s range points out the analysis team at NAB. Key Quotes WTI has traded at a substantial discount although this has evaporated over the last week amid unchanged US production but large inventory drawdowns. A key driver of the rise in prices has been the OPECRussia deal to cut oil output compounded [read more]

China reportedly aims to tackle 'uncertainties' in employment with incentives to boost job creation

China will offer incentives aimed at encouraging firms to create and maintain jobs as it tries to head off uncertainties in employment the official China Daily said on Thursday. No jobs means no wealth creation and possibly less social stability the newspaper quoted Premier Li Keqiang as saying during a meeting of the State Council on Wednesday. It said the priority would be to find work for college graduates veterans and laid off [read more]

Trump demands that OPEC do more to stabilize oil markets and 'reduce pricing now'

President Donald Trump issued a new demand for the worlds leading oil producing countries to stabilize oil markets with more supply only days after the United States and Saudi Arabia discussed the possibility of the kingdom releasing more of its own crude to dampen surging prices.On Twitter Trump called on OPEC countries fresh from a meeting in which they decided to raise oil output by an indeterminate amount to do more to bring down crude prices. Trump indirectly linked U.S. foreign policy to [read more]

Trump knocks Harley-Davidson again, says administration working to bring other motorcycle companies to the US

President Donald Trump is blasting HarleyDavidson again for announcing its shifting some operations overseas in the wake of retaliatory EU tariffs against U.S. duties.Trump said Tuesday that his administration is talking with other motorcycle companies about moving to the U.S.Now that HarleyDavidson is moving part of its operation out of the U.S. my Administration is working with other Motor Cycle companies who want to move into the U.S. Harley customers are not happy with their move sales are down 7% in 2017. The U.S. is [read more]

China's big bond experiment is about to go through a rough patch

One year ago China made a major move to open up its domestic or onshore bond market. But the sector is now facing [read more]

Three quarters of big UK firms downbeat on Brexit in new survey

A record 75 percent of major British companies are now pessimistic about Brexit a survey showed on Monday adding to signs of anxiety around the economy as Britains divorce with the European Union draws near.Weak investment and waning expectations for sales marked Deloittes latest quarterly survey of chief financial officers (CFOs) watched by the Bank of England as a gauge of business confidence.The proportion of CFOs who said Brexit was likely to hurt the business environment was up from 68 percent in the previous Deloitte CFO survey published in April.With [read more]

Trump's trade threats could end up boosting China's global economic clout

As the United States increasingly confronts China over trade and turns away from decades of championing lower tariffs Beijing is seen getting a boost from its globespanning and heavily marketed investment program. Chinas Belt and Road Initiative is a massive infrastructure project that covers more than 80 countries claims to seek the revival of historic Silk Road trade routes. Nomura estimates it could be worth at least $1.5 trillion in investments over the next 10 [read more]

What to expect from a Trump-Putin summit

Expectations about a summit between the leaders of Washington and Moscow are increasing but just what subjects could be on the table remains a matter of speculation. The meeting is reportedly eyed to take place around the NATO summit in midJuly around the time of U.S. President Donald Trumps visit to the United Kingdom. On Wednesday a Kremlin aide said the time and venue of the summit would be announced [read more]

Fed's Effort To Control The Rise Of Key Interest Rate Is Running Into Some Problem

The Feds effort to control the rise of its key interest rate is running into some problemsThe Fed in June approved a change in the interest it pays on excess reserves in an effort to control the rise of the funds rate the benchmark by which the central bank sets rates broadly.However the difference between the funds rate and IOER has gotten even closer since then signaling that the move may not have worked as planned.For investors the issue means that the Fed may have to ease its expected [read more]

Trump won't play ball on trade, so Europe is going straight to China

With President Donald Trump shaking the world trade order the European Union is working with China to ensure that multilateral trade doesnt come to an abrupt end. European and Chinese officials are taking steps to strengthen their trade ties but based on a multilateral approach a system by which international trade has evolved over the past few years. However making trade accords with multiple countries is something that Trump opposes on the basis that it has had [read more]

Bitcoin In 190 Days Correction

BitBitcoin bounces back but prices could fall again venture capitalist saysBitcoin bounced back Monday priced around $6200 530 p.m. ET.But blockchain venture capitalist Spencer Bogart says bitcoin might fall again as the fund redemption cycle for many crypto hedge funds complete their oneyear cycle.That means forced selling on behalf of all of these new crypto funds that have popped up Bogart says. I think that could take prices artificially lower.Bitcoin bounced back Monday after falling below $6000 on Friday. But blockchain venture capitalist Spencer Bogart who said [read more]

Trump is reportedly planning major new restrictions against China

President Donald Trump plans to bar many Chinese companies from investing in U.S. tech and to block additional technology exports to China The Wall Street Journal reported on Sunday evening citing people familiar with the matter.The two measures are set to be announced by the end of the week and are intended to counter Beijings Made in China 2025 a Chinese initiative to be a [read more]

Plenty Of Economic News This Week

With the exception of Monday there will be crucial economic releases coming out every day this week with the Conference Board Consumer Confidence highlighting Tuesdays session and the durable goods report the final GDP print and the Chicago Purchasing Managers Index being released on Wednesday Thursday and Friday respectively. Although its unclear how the current divergences will be resolved the Gorilla is confident that with the current fundamental backdrop any correction should be treated as a buying opportunity especially after the lengthy consolidation of the recent months. The strength [read more]

OPEC Increase Output Price Fell On Monday Morning Trade

Oil prices fall on expected output rise in wake of OPEC deal Brent crude oil prices fell over 1.5 percent on Monday as traders factored in an expected output increase that was agreed at the headquarters of the Organization of the Petroleum Exporting Countries (OPEC) in Vienna on Friday.Brent crude futures LCOc1 the international benchmark for oil prices were at $74.21 per barrel at 0343 GMT down 1.8 percent from their last close.U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $68.40 a barrel down [read more]

UK Treasury Pump In 1.2 Billion Pound Into BoE

Mark Carney said the Bank of England needs to adapt to the unprecedented changes in the global economy and the financial system as he unveiled another overhaul of the institutions powers.Under a new framework outlined Thursday the U.K. Treasury will pump 1.2 billion pounds ($1.6 billion) of capital into the BOE which in turn will have the ability to take on greater [read more]

DJI On 8th Day Down Day, Nasdaq Biggest 1 Day Drop Since April

U.S. stocks closed solidly lower on Thursday with major indexes suffering one of their worst sessions of the month and the Dow Jones Industrial Average extending its losing streak to an eighth day as fears of a potential global trade war continued to weigh on investor sentiment.What did the benchmarks doThe Dow Jones Industrial Average DJIA 0.80% fell 196.1 points or 0.8% to end at 24461.70. The bluechip averages losing streak matches its longest since March 2017. If it extends the losing streak to nine sessions on Friday it will match [read more]

GE Out Of Dow Jones Industrial Average Components

General Electric shareholders should rejoice at the Dow removalGoldman Sachs tells its clients that recent stock removals from the Dow Jones industrial average outperform in the year after the announcement.AT&T shares rose 15 percent in the 12 months after it was replaced by Apple in the Dow versus the S&P 500s 2 percent decline during the same time period.After more than 100 years as a component in the Dow Jones industrial average General Electric will be replaced by drugstore chain Walgreens Boots Alliance next week.But GE investors [read more]

Fed Powell Spoke Of

Jerome Powell chairman of the U.S. Federal Reserve spoke of continued gradual increases in U.S. interest rates at a conference in Portugal on Wednesday.As the economy recovered the need for highly accommodative monetary policy was clear Powell said. But with unemployment low and expected to decline further inflation close to our objective and the risks to the outlook balanced the case for continued gradual increases in the federal funds rate is strong.He was speaking a week after [read more]

Iran Could Agree To OPEC On Production Increase.

Oil prices drop as Iran signals support for OPEC output riseOil prices fell on Thursday as Iran signaled it could be won over to a small rise in OPEC crude output potentially paving the way for the producer cartel to agree on a supply increase during a meeting on Friday.However prices were prevented from dropping further by record refinery runs in the United States and a large decline in crude inventories a sign of strong fuel demand in the worlds biggest economy.Brent crude futures LCOc1 were at $74.51 per [read more]

Australian Asia Pacific Shares Lower On Escalating US-China Trade Tensions

Asian shares decline after an escalation in USChina trade tensions as oil extends lossesAsian markets fell on Monday as investors digested U.S.China trade tensions.The U.S. said it will impose tariffs on $34 billion in Chinese goods beginning July 6. China quickly announced its retaliation.Oil prices extended losses amid trade jitters and ahead of OPECs meeting later this week.Major Asian markets fell on Monday as investors digested the escalation in trade tensions between the U.S. and China after both countries announced [read more]

Dollar Mostly Firm As Fed Sees More Rate Hikes

Dollar mostly firmer as Fed sees more U.S. rate hikesNEW YORK (Reuters) The dollar ended steady to modestly higher on Wednesday hitting a threeweek high against the yen as Federal Reserve officials saw the likelihood of two more interest rate increases for a total of four in 2018 based on a solid economic outlook.The greenbacks bounce tied to the Feds perceived hawkish stance faded as traders booked profits in advance of the European Central Banks meeting on Thursday where policymakers may [read more]

Gold Trades Higher On Rate Hike But Settle Under $1,300

Gold settles higher then falls back under $1300 after Fed lifts key interest rateGold prices settled with a modest gain on Wednesday then fell back under the $1300anounce level in electronic trading as a benchmark U.S. dollar index headed higher in the wake of the U.S. Federal Reserves decision to lift a key interest rate.The Fed statement is more hawkish reflecting the apparent signal of an additional rate increase in 2018 said Rob Haworth senior investment strategist at U.S. Bank Wealth Management so higher rates [read more]

Cramer On Fed Rate Hike: 'Owning Stocks Just Got Harder,' But That's No Reason To Panic

Cramer on Fed rate hike Owning stocks just got harder but thats no reason to panicCNBCs Jim Cramer breaks down what the Federal Reserves Wednesday interest rate hike means for investors.Even though stocks fell in response to the hike the Mad Money host says theres no reason to panic.The Federal Reserves Wednesday interest rate hike the central banks second for 2018 shouldnt stir legitimate worry among investors CNBCs Jim Cramer said Wednesday.As the Dow Jones industrial average fell nearly 120 points after the Fed implemented its quarterpoint [read more]

US Investors Shrugged Off US DPRK Summit, DJIA Closed Lower

Investors largely shrugged off a landmark summit between President Donald Trump and North Korean leader Kim Jong Un Tuesday but fevered afterhours trading commenced in U.S. stocks following a federal judges ruling that AT&T Inc. can proceed with its planned acquisition of Time Warner Inc.Just after the Dow Jones Industrial Average closed down 1.58 points or less than 0.1% at 25320.73 U.S. District Judge Richard Leon announced his decision rejecting the Justice Departments allegations that the deal would suppress competition in the payTV industry. The ruling [read more]

Bitcoin Trying To Establish $6,000 Foundation

Has Bitcoin been building support above $6000Since declining sharply on Sunday the digital currency has fluctuated largely between $6600 and $6900 according to the CoinDesk Bitcoin Price Index (BPI).Over the last few hours the cryptocurrency has moved slightly below that range falling to as little as $6455.92 by 1915 UTC (315 p.m. EST) additional BPI figures show.At the time of report the digital currency had recovered slightly trading at $6555.70.Ed note Investing in cryptocoins or tokens is highly speculative and the [read more]

Fed To Hike Rate On Wednesday, This Is What You Need To Know

The Fed is hiking rates Wednesday but heres what else you need to knowThe Fed is expected to announce a quarterpoint interest rate hike when it wraps up its June meeting Wednesday afternoon but that rate hike is widely anticipated and there are a few other things that could stir up markets more.The Fed could [read more]

No matter what, the Trump-Kim summit looks likely to upend Asia's strategic situation

Tuesdays meeting between President Donald Trump and North Korean leader Kim Jong Un could alter Asias security situation regardless of whether the leaders reach an agreement. First the heart of any potential deal is centered on the definition of denuclearization. Pyongyang has previously said it may only dismantle nuclear weapons if Washington removes its 28500 troops from South Korea [read more]

Trump tells Kim 'we'll have tremendous success together'

U.S. President Donald Trump and North Korean leader Kim Jong Un met facetoface Tuesday morning for their highly anticipated summit. After briefly shaking hands and taking a photo sidebyside the two leaders moved to another room where they sat and made brief statements for the press. Were going [read more]

Trump says he'll know 'within a minute' whether Kim Jong Un is serious about giving up weapons

The Singapore summit between the United States and North Korea is a onetime shot and a mission of peace President Donald Trump said Saturday. Trump and North Korea leader Kim Jong Un are slated to meet in person in Singapore on Monday night ET. The U.S. wants North Korea to give up its nuclear weapons permanently. Trump says hes confidant something positive will happen at the summit. An official deal between the countries is largely unexpected. I feel that Kim [read more]

US and Canada spar after G7, with White House's Kudlow denouncing 'stab in the back'

In the end the long charm offensive by Canadian Prime Minister Justin Trudeau to avoid the ire of U.S. President Donald Trump failed just hours after success seemed closest with Trump raining insults as Trudeau closed what seemed like a triumphant global summit. Aside from the escalated risk of a trade war Trumps blistering personal attack on Trudeau poses domestic economic and political [read more]

There's an increased risk of armed conflict if the US-North Korea summit fails

If diplomatic talks between President Donald Trump and North Korean leader Kim Jong Un dont produce any kind of agreement on the rogue states nuclear weapons program that could bolster Washingtons appetite for military action strategists warned. The leaders are due to hold a summit on June 12 following a tumultuous 2017 that saw both exchange heated insults against the backdrop of Pyongyangs frequent [read more]

Japanese Prime Minister Shinzo Abe faces pressure to join trade war against the US

President Donald Trumps meeting Thursday with Japanese president Shinzo Abe was billed as a conversation about upcoming peace talks with North Korea. But with steep tariffs on imports of Japanese steel and aluminum and threats of levies on Japanese cars the topic of tense trade relations between the two countries was the elephant in the Oval Office. The meeting with Abe comes as Trump prepares for a gathering in [read more]

Trump Spars With Trudeau, Macron On Trade Ahead Of G7 Summit

         On Friday Trump is scheduled to attend the annual summit and meet with leaders from the U.K. Canada Japan Italy Germany and France.         In a tweet Trump accused Canada and France of levying massive tariffs and creating nonmonetary barriers.         He has repeatedly lashed [read more]

G7 Meeting, 2nd Chance To Avoid A Global Trade War

G7 meeting the next chance to head off possible global trade implosionLeaders of the worlds biggest advanced economies will meet in Canada this weekend for a G7 summit like no other.As trade tensions continue to escalate German Chancellor Angela Merkel predicts it will be a contentious meeting.The trade conflict began in March when US President Donald Trump put tariffs of 25 percent on imported steel and 10 percent on imported aluminum citing national security.But the conflict ramped up last week when an exemption for close [read more]

'Pragmatic' Beijing is what's stopping US and China from a 'blow up,' former central banker says

Among the countries that the U.S. has taken issue with China has stood out for knowing how to handle President Donald Trumps administration to avoid worsening conflict former Indian central bank governor Raghuram Rajan said Tuesday. In fact Rajan said at the Nomura Investment Forum in Singapore its the pragmatism on the part of the Chinese leadership that has prevented tensions between the worlds two largest economies from escalating. Trump has said unfair Chinese practices are to blame for the wide trade balance between the [read more]

Coinbase acquires Keystone Capital in bid to become a regulated broker-dealer

Leading U.S. cryptocurrency exchange Coinbase announced it would acquire securities dealer Keystone Capital in a bid to become a fully SECregulated broker dealer the company said Wednesday. If approved Coinbase will soon be capable of offering blockchainbased securities under the oversight of the US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) Coinbase President and Chief Operating Officer Asiff Hirji said in a statement. This step forward is being made possible by our [read more]

China is working to change global commodities trading — to its own benefit

Chinese exchanges are wooing international commodities traders in a bid to overtake longstanding benchmark prices many of which are set in Europe and the U.S. reflecting ambitious plans by the worlds secondlargest economy to expand its influence overseas. In the last few months Chinese exchanges have opened up the trading of derivatives products for a few major commodities to international participants. Those include crude oil [read more]

Tesla reveals plans for a new factory in Shanghai at shareholder meeting

At a shareholder meeting on Tuesday Teslas head of worldwide sales Robin Ren revealed that the company plans to build its first factory outside of the U.S. in Shanghai. The Chinese government recently announced that it will allow foreign electric vehicle makers to fully own autofactories there. Teslas move into China is hotly anticipated as building some vehicles there would allow the company to avoid import [read more]

UK government clears Fox's bid for broadcaster Sky, pending the sale of Sky News

Britains government said Tuesday it was now prepared to give TwentyFirst Century Fox the provisional goahead to buy Sky subject to the sale of its Sky News channel. If approved it could pave the way for a dramatic bidding war with U.S. media giant Comcast. Culture Secretary Matt Hancock said Foxs proposal to divest Sky News to Disney or any other suitable buyer was likely to be the most proportionate [read more]

Trump contemplating separate trade deals with Canada and Mexico instead of NAFTA fix, says economic advisor Kudlow

President Donald Trump is very seriously contemplating separate trade negotiations with Canada and Mexico White House economic advisor Larry Kudlow said Tuesday. Its not clear whether pursuing bilateral trade agreements with the two countries would effectively end the trilateral North American Free Trade Agreement which has been in place for more than two decades. Yesterday we met with the president a couple times and he is very [read more]

Apple co-founder Steve Wozniak hopes bitcoin will become a single global currency

Twitter CEO Jack Dorsey recently said he believes bitcoin will become the single global currency something that Apple cofounder Steve Wozniak hopes will happen. I buy into what Jack Dorsey says not that I necessarily believe its going to happen but because I want it to be that way that is so pure thinking Wozniak told CNBC on Monday. Wozniak bought bitcoin when it was $700 over $6700 less than where the cryptocurrency was trading [read more]

The oil market is doing something it hasn't done in 3 years — and it's bullish for crude

The spread between West Texas Intermediate and Brent crude futures prices has widened to new extremes recently and this is a bullish development.The spread has reached more than $11 the largest since mid2015. WTI is trading a little over $65 per barrel while European Brent crude the international benchmark for oil is trading near $76. This is more than double the size since the beginning of May and this deep discount will become extremely attractive as producers work through the pipeline [read more]

US trade talks appear to be at 'a low' with China and allies

U.S. trade negotiations appear to have gotten even stickier as the U.S. commerce secretary left China empty handed and President Donald Trump gets set to meet an unhappy group of world leaders at the end of the week. The Trump administration last week turned trade threats into action by slapping tariffs on steel and aluminum from Canada Mexico and Europe all of which have retaliated and are fighting the U.S. move at the World Trade Organization. The heads of Canada Japan German France the U.K. and [read more]

The next 9/11 will be a cyberattack, security expert warns

A cyberattack of devastating proportions is not a matter of if but when numerous security experts believe. And the scale of it one information security specialist said this week will be such that it will have its own name like Pearl Harbor or 911. The more I speak to people the more they think that the next Pearl Harbor is going to be a cyberattack cybersecurity executive and professional hacker Tarah Wheeler told a panel audience during the Organization for [read more]

Trump and Putin may meet at a summit to discuss thorny issues: Wall Street Journal

Early discussions for a meeting between U.S. President Donald Trump and Russian President Vladimir Putin are said to be underway The Wall Street Journal reported Friday citing sources familiar with the matter.U.S. ambassador to Russia Jon Huntsman has been in Washington for a monthslong effort to arrange a formal meeting between the two leaders the publication said citing a senior administration official.The purpose of a summit would be to resolve thorny [read more]

Global airlines issue warning over trade tensions

Global airlines and aviation executives warned on Sunday about growing international trade tensions saying they could damage the airline industry and the world [read more]

Trump administration plans to impose tariffs on EU steel and aluminum: Sources

The White House is not planning on extending the European Union exemptions from steel and aluminum tariffs CNBC has confirmed.The Trump administration is expected to make an announcement Thursday sources close to the situation confirmed with CNBC.The Wall Street Journal first reported the news.Shares of U.S. Steel gained about 5 percent in afterhours trade. Alcoa shares rose 2 percent postmarket while AK Steel gained 5 percent.Earlier this year President Donald Trumps administration had imposed new tariffs of 25 percent [read more]

The digital teaching platform set up by school friends that’s now used by millions worldwide

Long hours reams of marking and timeconsuming planning theres little doubt that teachers work hard for their monthly pay check.While many classrooms today are packed with technology the broad aim of teaching remains the same to inform motivate and enrich the lives of students.One company set up by former schoolmates is looking to give teachers an extra boost through digital innovation. Firefly is a platform that enables teachers and students to access a range of educational information online. It was established [read more]

Italy's power struggle could be a flashpoint for market 'contagion'

The contagion risks from a potential Italian implosion should concern market participants once again according to analysts. The euro zones thirdlargest economy is currently in the midst of an ongoing power struggle with investors fearful the looming prospect of snap elections could be fought over the countrys role in the European Union and its membership of the single currency. Romes deepening political crisis has prompted a second consecutive session of heavy selling in European financial markets Tuesday with stocks [read more]

Billionaire George Soros outlines his plan to save Europe

The Hungarianborn billionaire George Soros has offered a threepoint plan in order to preserve the status of the European Union. Europes alliance has been under strain as bigger more powerful countries demand that those with struggling economies rein in their spending to reduce debt. This enforced austerity has led to high unemployment in countries such as Greece and Italy. Added to the mix was a migration spike from the Middle East and [read more]

Microsoft is now more valuable than Alphabet — by about $10 billion

When Google first passed Microsoft in terms of stock market value six years ago it looked like the companies were headed in opposite directions. But over the past 12 months Microsoft has surged 40 percent more than five times Alphabets gain and has again become the more valuable of the two. As of Tuesdays close Microsoft was worth $749 billion and Alphabets market capitalization stood at $739 billion. Microsofts latest rally has been sparked by growth in its [read more]

Trump administration is telling Congress it has an agreement to save China's ZTE: Reports

President Donald Trumps administration is telling Congress it has come to an agreement to boost Chinese telecommunications company ZTE The New York Times and Reuters reported. As part of the deal ZTE would pay a financial penalty revamp its management and hire American compliance officers the Times reported citing a person familiar with the matter. The U.S. would scrap a ban on the company buying American products under the agreement the newspaper said. It is unclear how firm the reported deal is at this [read more]

Koreas discussing possible non-aggression pledge, peace treaty talks ahead of N.Korea-U.S. summit

North and South Korea are discussing a possible nonaggression pledge by the United States to the North and a start of peace treaty talks to address Pyongyangs security concerns before a North KoreaU.S. summit a senior South Korean official said on Sunday. South Korean President Moon Jaein and North Korean leader Kim Jong Un held a surprise second meeting on Saturday after U.S. President Donald Trump called off his talks [read more]

Fed relying on biased data that makes 'B-minus economy' look like an 'A+

A veteran market researcher is out with a warning saying the Federal Reserve is relying too heavily on economic surveys skewed by social media to mold their policies. According to Bianco Research President James Bianco most economists mistakenly believe that leading indicators are signaling an A economy that can withstand rising interest rates. Its more like a B economy he told CNBCs Trading Nation on Friday. Its not this screaming home run that everybody thinks it is based [read more]

'Biggest' change in oil market history: Crude prices set to soar ahead of shipping revolution

Instead of OPEC Iran or even Venezuela the most prominent driver of oil prices over the next two years is likely to come in the shape of a shipping revolution analysts have warned. New rules coming into force in approximately 18 months time are seen as a source of great concern for some of [read more]

Trump says US military 'is ready if necessary' after Kim Jong Un summit cancellation

President Donald Trump said Thursday that the U.S. military stands ready if necessary following his cancellation of a planned summit with North Koreas Kim Jong Un ramping up already tense rhetoric exchanged between Washington and Pyongyang. The president throwing aside his conciliatory rhetoric called the meetings cancellation a great setback for the world. Touting a greatly enhanced American military and the power of U.S. allies Trump warned Kim against taking foolish or reckless action. I have spoken to South Korea [read more]

Apple, spurned by BMW and Mercedes, signs deal with Volkswagen for driverless cars

Apple had already curtailed its grand vision for disrupting the automotive industry by building its own selfdriving car. Now the tech giant has narrowed its auto aspirations even further. Automotive industry by building its own selfdriving car. Now the tech giant has narrowed its auto aspirations even further. For the past several years Apple sought partnerships with the luxury carmakers BMW and MercedesBenz to develop an allelectric selfdriving car according to five people familiar with the negotiations who asked not to [read more]

North Korea says future of summit with US is up to Washington: State media

North Koreas vice foreign minister said the future of the summit between Pyongyang and Washington is entirely up to the United States and condemned a media interview by U.S. Vice President Mike Pence in which he compared the North to Libya. We will neither beg the U.S. for dialogue nor take the trouble to persuade them if they do not want to sit together with us said Choe Son Hui according to a report by North Koreas central news agency on Thursday. Choe [read more]

Oil prices have been given a boost, but they could struggle to head higher

Oil prices have climbed in recent weeks but whether that rise will continue for longer could be in doubt. On a 12month basis which is the horizon we take we think were more likely to be in sort of a $55 to $75 range which is a little bit lower than where we are today Manpreet Gill head of fixed income currencies and commodities investment strategy at Standard Chartered Private Bank [read more]

Markets are failing to appreciate how much further earnings have to grow, asset manager says

Drew Angerer Getty ImagesTraders and financial professionals work on the floor of the New York Stock Exchange.The U.S. may be close to the peak of its earnings cycle but earnings still have room to climb and markets are failing to reflect that potential according to asset manager NN Investment Partners (NNIP). Investors seem [read more]

Bitcoin Cash Is A Must-Own Says Billionaire Cryptocurrency Investor Brian Kelly

Brian Kelly the founder and CEO of BKCM LLC an investment company focused on cryptocurrencies came out bullish on Bitcoin Cash (BCH) on CNBC May 21.On Saturday BCH miners reportedly had a meeting dedicated to funding for a BCH development fund. Miners are looking to allocate some part of the reward they receive from mining and invest it to expand the BCH ecosystem Kelly explained. The fund development could aid the rise of the cryptocurrencys value. He continuedThats how blockchains gain value. Youre going to be getting more use cases to the extent that usefulness [read more]

Asian stocks ease after global markets get a boost from US-China trade news

Asian markets were subdued early on Tuesday despite gains seen on Wall Street on the back of an apparent cooling in recent U.S.China trade tensions. In Japan the Nikkei 225 tracked lower by 0.1 percent in morning trade after starting the session with slight gains. The broader Topix slipped 0.15 percent with most of its 33 subsectors trading lower although steelmakers and oil names notched gains. Elsewhere Australias S&PASX 200 shed 0.33 percent [read more]

US-China trade agreements are face-saving and lose-lose, says Moodys chief economist

Triumphant tones coming from the White House over the weekend are inconsequential Moodys chief economist said Monday deflating hopes that the U.S. is gaining major ground in its negotiations with China aimed at averting a trade war. I think its a loselose. There are no winners here Mark Zandi told CNBCs Squawk Box Europe on Monday. This is facesaving because clearly theyre not going come to terms on anything at least not in the nearteam. Zandi [read more]

Deadly virus identified as a potential epidemic kills nine in India

A deadly virus described by the World Health Organization (WHO) as having the potential of becoming the next deadly major outbreak has killed nine people in the southern Indian state of Kerala. State health officials confirmed that three people had contracted the Nipah virus within the past fortnight. The first death was reported to government officials on Saturday. The Nipah virus claimed the life of a nursing assistant Monday who had treated a patient who had died of the disease according to local media. [read more]

US economic growth may be the Fed’s Achilles' heel on its path to higher rates, market watcher says

The Federal Reserve is all but guaranteed to raise interest rates in June according to many investors and Wall Street economists. Beyond that the central banks options are limited by one critical factor according to one market watcher. While you have inflation and jobs numbers that are very Fed pleasing youve got to watch out for that growth number which is expected to be somewhere in the range of 3 percent said Todd Colvin senior vice president at Ambrosino Brothers [read more]

China agrees to bolster purchases of US goods, in move to 'substantially reduce' trade gap

China and the U.S. have mutually agreed to substantially reduce the yawning trade imbalance between the two countries a joint statement read on Saturday in a move that will involve the Chinese boosting more of what they buy from American producers. Amid fears of a global trade war and rising tensions between the worlds two largest economies both China and [read more]

US Stock Closed On Correction

The three main U.S. equity benchmarks on Thursday finished lower as selling in technology shares offset an advance in the energy sector. However a popular index of smallcapitalization stocks closed at a record for the second straight day underlining the resilience of that segment of the [read more]

Trump's sanctions on Iran may be creating an oil trading boom — in China

Trade in Chinese yuandenominated crude oil futures has surged since President Donald Trump pulled the U.S. out of the Iran nuclear deal. Launched on March 26 crude oil futures on the Shanghai International Energy Exchange (INE) were met with fanfare and skepticism about how much a statemanaged marketplace could displace the wellestablished crude trade in the New York Mercantile Exchanges West Texas Intermediate (WTI) and the Intercontinental Exchanges Brent futures.But Trumps move [read more]

Bitcoin Will Be World Currency

Twitter and Square Inc. CEO Jack Dorsey expressed optimism about cryptocurrencys role in the future of payments saying that the internet deserves a native currency and it will have a native currency Bloomberg reports May 16.At the Consensus conference on Wednesday Dorsey shared crypto enthusiasts vision that virtual currencies are the future of a legitimate means of global payment. He said that he doesnt know whether it will be Bitcoin (BTC) but I hope it will be. Dorsey said [read more]

Oil prices have come full circle since OPEC refused to cut output 3½ years ago

Oil prices have come full circle from a historic implosion 3 years ago sparked by OPECs decision on Thanksgiving Day to take a handsoff approach to a global supply glut. Brent crude the international benchmark for oil prices ended Mondays session at $78.23 barrel the highest closing level since Nov. 25 2014. On Tuesday the contract took aim at $80 a barrel striking a new 3year intraday high at $79.47. At [read more]

North Korea cancels meeting with South Korea, threatens to ditch summit with US over military drills

North Korea abruptly canceled talks with South Korea scheduled for Wednesday and threatened to walk away from talks with the U.S. according to media reports. North Koreas staterun Central News Agency said the ongoing joint military drills between the U.S. and South Korea are a provocation and a preparation for an invasion according to a Reuters report that cites South Korean news outlet Yonhap. South Koreas Unification Ministry said it received a [read more]

Japan's GDP Q1 Data End Abenomy Eight Straight Quarter Expansion.

Japans economy contracted more than expected at the start of this year breaking the longest run of growth seen for decades in a blow to Prime Minister Shinzo Abes reflationary Abenomics polices.Wednesdays data marked the end to eight straight quarters of economic expansion which was the longest sequence of growth since a 12quarter run between AprilJune 1986 and JanuaryMarch 1989 during the assetinflated bubble economy.The economy shrank by 0.6 percent on an annualized basis a much more severe contraction than the median estimate for [read more]

Australia's central bank sees little reason to lift rates as inflation and wages stay sluggish

Australias central bank saw little reason to lift rates this month as inflation remained below target and likely to remain subdued in the face of sluggish wage growth minutes of its May policy meeting showed. The Reserve Bank of Australias (RBA) Board agreed there was not a strong case for a nearterm adjustment in monetary policy Tuesdays sixpage minutes showed. The Board still agrees the next move was more likely up than down assuming the economy gathered momentum [read more]

Mark Zuckerberg, who turns 34 today, has earned an average of $6 million a day during his life

Facebook CEO Mark Zuckerberg turns 34 today capping one of the more difficult years of his career at Facebook as the company deals with fallout around privacy and fake news concerns. But because he started his company in college hes already amassed quite a fortune despite his young age. His net worth is around $74 billion (according to Forbes) which means hes amassed an average of $5.97 million per [read more]

CME Launches Ether USD Futures and Index

The Chicago Mercantile Exchange (CME Group) in partnership with Crypto Facilities a UKbased digital asset exchange specializing in Bitcoin futures have launched the CME CF EtherDollar Reference Rate and Real Time Index according to an announcement May 14. The indexes will provide users access to a realtime Ether (ETH) price in  [read more]

China set to deliver world's largest amphibious aircraft by 2022: Chinese state media

China expects to deliver its domestically developed AG600 the worlds largest amphibious aircraft to customers by 2022 the staterun Xinhua news agency reported late on Sunday citing the planes manufacturer. We are endeavouring to get the airworthiness certification from the civil aviation authorities by 2021 and deliver it to the customers by 2022 Xinhua quoted Huang Lingcai the planes chief designer at stateowned Aviation Industry Corporation of China (AVIC) as [read more]

Oil Lower This Monday While Europe And Asia Resisting US Sanction On Iran

Oil prices on Monday fell away from last weeks multiyear highs as a relentless rise in U.S. drilling activity pointed to increased output while resistance emerged in Europe [read more]

The Week Ahead

US retail sales German Q1 GDP ZEW Australia andUK employment figures are key figures for the week. [read more]

Bitcoin Could Hit $64,000 Funstrat Predicts, Also Predicts Much Lower Breakeven From New More Powerful Antminer S9.

Bitcoin could soar as high as $64000 next year investment research firm Fundstrat predicts We believe the current path of hash power growth supports a BTC price of about $36000 by 2019 year end with a [read more]

Oil traders and insurers are the latest weapons in UN efforts to enforce North Korea sanctions

The United Nations is tapping private companies to aid in its fight against North Koreas efforts to evade trade sanctions at sea. A panel of experts from the UN Security Council is asking that insurers and commodity traders involved with certain trading ships alter their contracts to prevent illicit trades with North Korea. The UN has ratcheted up [read more]

Bitcoin could soar as high as $64,000 next year, investment research firm Fundstrat predicts

The growth of bitcoin mining activity could send the cryptocurrencys price as high as $64000 investment research firm Fundstrat said Thursday. Bitcoin is created through an energyintensive process known as mining in which computers receive the cryptocurrency as reward for solving complex mathematical equations. Processing power to guess the solution is known as hash power which Fundstrat predicts will grow 350 percent through 2019. We believe the current path of hash power growth supports a BTC price of [read more]

The shocking Malaysian election result could hit Chinese investments

A stunning win by the opposition bloc in Malaysias general election on Wednesday could have implications for the Southeast Asian nations ties with China a major invsetor.Mahathir Mohamad a former Malaysian prime minister who led his opposition alliance to victory over the ruling coalition said Thursday the country could renegotiate several agreements that had been struck with China.Mahathir said he had no problem with Chinas Belt and Road Initiative (BRI) a widereaching infrastructure investment program but added that we would not like to see [read more]

BoE to keep rates unchanged - Reuters Poll

The Bank of England (BoE) is now expected to keep rates unchanged at their next meeting according to poll results from Reuters. Key highlights BoE bank rate to stay at 0.5% 59 of 62 surveyed economists said. Poll results mark a complete reversal of the previous poll in April where 69 of 76 economists expected a rate hike to 0.75% in May. Polled economists now expect a rate hike in August with a second rate increase in Q2 of 2019. [read more]

Iran may try diplomacy but it could circumvent Trump sanctions with help from China and Russia

As the U.S. drops out of the Iran nuclear deal Iran may first try diplomacy but could also seek help skirting U.S. sanctions from other parties to the deal particularly Russia and China. Iranian President Hassan Rouhani on Tuesday said Iran would speak with China Russia and European countries to see if the 2015 deal can be maintained without the U.S. However if the deal collapses Iran could return to its nuclear [read more]

Trump announces he will withdraw US from Iran nuclear deal and restore sanctions

President Donald Trump announced on Tuesday he will withdraw the United States from the Iran nuclear deal and restore farreaching sanctions aimed at severing Iran from the global financial system. We will be instituting the highest level of economic sanction Trump said. Any nation that helps Iran in its quest for nuclear weapons could [read more]

NYSE's Owner ICE To Offer Traded Contract That Result In Customer Owning Cryptocurrency

 The owner of the New York Stock Exchange (NYSE) is mulling letting customers buy and hold Bitcoin The New York Times reported late Monday May 7. The move would be the second Wall Street giant in a week to reportedly open up to crypto.As the New York Times reports citing emails and documents as well as four anonymous sources NYSE [read more]

CPI, Inflation, Geopolitical Risk On Commodities & Forex

Following a very solid but softerthanexpected jobs report the USD remains in an advantageous position but perhaps shortterm speculators are a bit oversubscribed this week.All eyes will be on this weeks US CPI report which will be this months most significant piece of economic data as it will go a long way to confirm the markets bullish read on the US economy and the Fed rate hike trajectory.Oil The US Iran nuclear waiver is precisely what is pushing oil prices higher as the president has until May 12 to [read more]

The Week Ahead

Key events on the economic front include the Bank of England (BoE) meeting and US consumer price index (CPI) while US earnings season has wound down somewhat. [read more]

Amid international pressure, Russia’s economy is a mix of the good, the bad and the ugly

Beset by tough sanctions and worldwide political isolation a casual observer might be surprised to learn that Russias economy isnt doing all that badly even if it still has a litany of problems. In fact some investors are fairly bullish on the country where the outlook is bolstered by surging oil prices. However there are red flags everywhere including a new round of sanctions against Russian companies and [read more]

Australia: Q1 retail sales to show a further rise but at a slower pace - Westpac

Analysts at Westpac offer a brief preview of Tuesdays Australian retail sales release due at 0130 GMT with a slowdown in retail spending expected in the Q1 update. Key Quotes Consumer sentiment softened after a sharemarket selloff and increased concerns about the outlook for the economy and jobs Retail responses to private sector business surveys also point to a softening in sales although these have provided conflicting guidance in recent months. On balance we expect March to show renewed headwinds with a subpar [read more]