Markets and Economy
Trump Dump£ Market Sells Off During Trump's Inauguration Speech
Fri, 20 Jan 2017 18:24:18 +0000

After opening the day up more than 13 points, the S&P 500 sold off sharply when Donald Trump began his inauguration speech. Following the selloff, the SPDR S&P 500 ETF Trust (NYSE: SPY) is now up just 0.2 percent on the day.

Investors were initially very optimistic about the stock market’s prospects following Trump’s election victory. However, according to the latest AAII Sentiment Survey, bullish market sentiment fell below 40 percent this week for the ...

Full story available on Benzinga.com

Pound limps away from frantic week higher
Fri, 20 Jan 2017 18:12:25 +0000
* Graphic: Trade-weighted sterling since Brexit vote http://tmsnrt.rs/2hwV9Hv
U.S. drillers add the most oil rigs since April 2013 -Baker Hughes
Fri, 20 Jan 2017 18:08:27 +0000
Jan 20 (Reuters) - U.S. energy companies this week added the most oil rigs in nearly four years, extending an eight-month recovery as drillers take advantage of a deal by OPEC to cut supplies that...
U.S. stocks pare gains after Trump's inaugural speech
Fri, 20 Jan 2017 18:06:06 +0000
(Reuters) - Wall Street pared gains sharply on Friday after Donald Trump made his inaugural speech as the 45th president of the United States.
US STOCKS-U.S. stocks pare gains after Trump's inaugural speech
Fri, 20 Jan 2017 18:04:54 +0000
* Indexes up: Dow 0.16 pct, S&P 0.08 pct, Nasdaq 0.06 pct (Adds details, comments, updates prices)
BRIEF-SMITHFIELD FOODS ANNOUNCES PLANS TO REFINANCE EXISTING BANK CREDIT FACILITIES
Fri, 20 Jan 2017 18:04:04 +0000
* SMITHFIELD FOODS ANNOUNCES PLANS TO REFINANCE EXISTING BANK CREDIT FACILITIES
15 Biggest Mid-Day Losers For Friday
Fri, 20 Jan 2017 18:01:48 +0000
  • Pluristem Therapeutics Inc. (NASDAQ: PSTI) shares dipped 22.9 percent to $1.08. Pluristem disclosed that it has increased its bought deal offering to $15 million of stock and warrants.
  • Affimed NV (NASDAQ: AFMD) shares fell 20.9 percent to $1.70. Affimed priced its public offering of 10,000,000 of its common shares at $1.80 per common share.
  • Uranium Resources, Inc. (NASDAQ: URRE) dropped 14.6 percent to $2.29 after the company reported a closing of $9.7 million public offering.
  • NF Energy Saving Corp (NASDAQ: NFEC) shares fell 14 percent to $1.10. On Thursday, NF Energy Saving reported a business cooperation with an Indian company.
  • Naked Brand Group Inc (NASDAQ: NAKD) declined 13.7 percent to $1.83. Naked Brand shares have dropped 22.06 percent over the past 52 weeks, while the S&P 500 index has ...

Full story available on Benzinga.com

BRIEF-BANK OF COMMERCE HOLDINGS QTRLY EARNINGS PER SHARE $0.17
Fri, 20 Jan 2017 18:01:28 +0000
* QTRLY NET INTEREST INCOME $9.4 MILLION VERSUS $8.4 MILLION Source text for Eikon: Further company coverage:
BRIEF-ARROW REPORTS Q4 EARNINGS PER SHARE $0.49
Fri, 20 Jan 2017 18:00:11 +0000
* ARROW REPORTS RECORD NET INCOME FOR 2016, CONTINUED STRONG LOAN GROWTH
BRIEF-SMITHFIELD FOODS ANNOUNCES COMMENCEMENT OF SENIOR NOTES OFFERING
Fri, 20 Jan 2017 17:58:22 +0000
* SMITHFIELD FOODS ANNOUNCES COMMENCEMENT OF SENIOR NOTES OFFERING
BRIEF-ACCO BRANDS RECEIVES CLEARANCE FROM COMPETITION AUTHORITIES FOR ACQUISITION OF ESSELTE
Fri, 20 Jan 2017 17:57:11 +0000
* ACCO BRANDS RECEIVES CLEARANCE FROM COMPETITION AUTHORITIES FOR ACQUISITION OF ESSELTE
BRIEF-INTERPACE DIAGNOSTICS ANNOUNCES $4 MLN REGISTERED DIRECT OFFERING OF COMMON STOCK
Fri, 20 Jan 2017 17:55:48 +0000
* INTERPACE DIAGNOSTICS ANNOUNCES $4.0 MILLION REGISTERED DIRECT OFFERING OF COMMON STOCK
The 2017 Forecast On Financials: A Conversation With Community Bank Analyst Chris Marinac, Part Two
Fri, 20 Jan 2017 17:52:26 +0000

Marketfy Maven Tim Melvin recently had the opportunity to speak with Chris Marinac, co-Founder and Director of Research with FIG Partners—a community bank specialist research and investment firm—to get his thoughts on the future of financial institutions, big and small, and what part fintech and regulation reform will play in the next 12 months.

Below is part two of their conversation, slightly edited for length and clarity. Click here to read part one.

Melvin: How likely is it that the whole fintech scenario plays out and the banks end up acquiring a lot of these technologies outright. Is that a realistic view£

Marinac: I think so. If you think about it, the banks have more currency now. So the fact that they have stocks that they can use to do small equity deals, absolutely. In many respects, the marketplace would embrace that. 

I think you’re also going to see alliances come. I encourage investors to take a look at what Fifth Third Bancorp (NASDAQ: FITB) is doing. They announced an alliance in September with a company out of Atlanta called GreenSky that does home improvement lending. Not only are they buying loans from GreenSky, but they’re also licensing their technology, and the technology is very sharp. It’s very regulatory friendly, but it allows Fifth Third to kind of rethink their own internal processes. That’s going to help them not only save money, but also create more revenue over time. So that’s a real good example of where fintech and the banking industry overlap and I think can actually be very helpful for each other.

Melvin: I think that the fintech lenders in particular have to look to sell or license to the banks because the technology may be wonderful, but at heart they’re a non depository lender and the first time there is a liquidity crisis, they’re in trouble.

Marinac: Absolutely. I think you and I have talked about this before. The deposits are the lifeblood of the banking industry.  The banking industry does extend into the fintech and those lenders, but most of those lenders do not have a good cost of funds, and that’s when the banks win. I think at the end of the day banks and their low cost of funds is really what’s going to win out, and that’s where I think the partnership with online lenders is going. I just think that some of them have admitted and some have not.

Melvin: Let’s move to loan classifications and categories. Regulators earlier this year expressed some concerns about commercial real estate concentrations, and there is a fear that it will go from a gentle suggestion to a regulation, talking the 100/300 rule. Can you comment a little bit on that£

Marinac: I think that it’s a fair expectation. Like a lot of things, the regulators can only hint at things so long and there comes a point where they have to make it more of an official rule. While we may not necessarily get an official ruling, I think it’s going to become more direct. 

The interesting thing to me is that the technical rule takes all four categories in real estate—construction, multifamily, owner occupied, and non owner occupied—and lump them together for the concentration ...

Full story available on Benzinga.com

Fox News signs Brexit leader Nigel Farage as contributor
Fri, 20 Jan 2017 17:50:19 +0000
Jan 20 (Reuters) - Nigel Farage, who led the campaign for Britain to leave the European Union, will be a political analyst on Fox News and Fox Business Network, Fox News said on Friday.
5 Reasons Why 2017 Might Be The Year To Speculate On Forex
Fri, 20 Jan 2017 17:46:39 +0000

2016 was a fascinating year to be a retail trader. The surprise results in the Brexit referendum and the U.S. Presidential election were just the tip of the volatility iceberg. The aftermath of 2016 is likely to continue to resonate, and along with the likely rise of new political and economic risks, markets in 2017 are unlikely be any calmer.

Uncertainty can be a welcome prospect for retail traders but the next 12 months could well be volatile for a whole different reason. Following a year that was characterized by surprise after surprise, the events of 2017 may be easier to anticipate. Well-prepared traders—those with sound risk management strategies supported by the fastest technology for trade execution—are using last year's lessons to prepare for whatever lies around the corner.

Here are five reasons why 2017 may be the best year to trade forex and CFDs since 2008:

Brexit

2016 may have been the year Brexit surprised the world but this year we’ll really start to find out exactly what it means. The pound and the FTSE, which have been extremely volatile since the vote in June, are likely to remain in the trading spotlight for the foreseeable future. Over the coming months, we’ll find out just how the leave decision will affect the UK economy in the ...

Full story available on Benzinga.com

5 Reasons Why 2017 Might Be The Year To Speculate On Forex
Fri, 20 Jan 2017 17:46:39 +0000

2016 was a fascinating year to be a retail trader. The surprise results in the Brexit referendum and the U.S. Presidential election were just the tip of the volatility iceberg. The aftermath of 2016 is likely to continue to resonate, and along with the likely rise of new political and economic risks, markets in 2017 are unlikely be any calmer.

Uncertainty can be a welcome prospect for retail traders but the next 12 months could well be volatile for a whole different reason. Following a year that was characterized by surprise after surprise, the events of 2017 may be easier to anticipate. Well-prepared traders—those with sound risk management strategies supported by the fastest technology for trade execution—are using last year's lessons to prepare for whatever lies around the corner.

Here are five reasons why 2017 may be the best year to trade forex and CFDs since 2008:

Brexit

2016 may have been the year Brexit surprised the world but this year we’ll really start to find out exactly what it means. The pound and the FTSE, which have been extremely volatile since the vote in June, are likely to remain in the trading spotlight for the foreseeable future. Over the coming months, we’ll find out just how the leave decision will affect the UK economy in the ...

Full story available on Benzinga.com

12 Biggest Mid-Day Gainers For Friday
Fri, 20 Jan 2017 17:34:11 +0000
  • EnteroMedics Inc (NASDAQ: ETRM) shares jumped 47.2 percent to $9.07 after climbing 9.61 percent on Thursday.
  • Interpace Diagnostics Group Inc (NASDAQ: IDXG) shares surged 30.9 percent to $6.02 after the company reported a new partnership with Best Med Opinion Ltd of Tel Aviv, Israel.
  • Globus Maritime Ltd (NASDAQ: GLBS) gained 26.2 percent to $9.29. Globus Maritime shares have jumped 12,166.67 percent over the past 52 weeks, while the S&P 500 index has gained 21.75 percent in the same period.
  • Rightside Group Ltd (NASDAQ: NAME) surged 15.4 percent to $9.39. Tucows announced ...

Full story available on Benzinga.com

U.S. Dollar Index Little Lower
Fri, 20 Jan 2017 17:29:43 +0000

The March U.S. Dollar Index is trading at 100.98, down 0.20.

The U.S. Dollar Index is trading rangebound and just above the session lows.

Market chatter about today's speech by President Donald Trump is ...

Full story available on Benzinga.com

2 Layers To This Trump Trade
Fri, 20 Jan 2017 17:29:40 +0000

As has been well-documented, financial services sector has been thriving since Donald Trump's surprising victory in the November U.S. presidential election. Since November 9, the first trading day after Election Day, the Financial Select Sector SPDR Fund (NYSE: XLF), the largest exchange-traded fund tracking the S&P 500's second-largest sector weight, is higher by 11.1 percent.

In addition to post-election ebullience, bank stocks and ETFs were boosted by speculation that the Federal Reserve was nearing its first interest rate hike of 2016 at its December meeting, something the Fed obliged on. Some bond market observers believe the Fed could raise rates several times this year, which could provide another boost to bank stocks and ETFs.

Interest Rates, Tax Reform And The Market

It is not just interest rate bets and speculation ...

Full story available on Benzinga.com

FTC not sold on Walgreens' plan to win nod for Rite Aid deal: Bloomberg
Fri, 20 Jan 2017 17:21:21 +0000
(Reuters) - The U.S. Federal Trade Commission is not satisfied with Walgreens Boots Alliance Inc's plan to divest stores to win antitrust clearance for its acquisition of Rite Aid Corp , Bloomberg reported, citing people familiar with the matter.
BlackRock hires former UK finance minister Osborne as adviser
Fri, 20 Jan 2017 17:12:44 +0000
NEW YORK/LONDON (Reuters) - Former British finance minister George Osborne, who lost his job after Britain's vote to leave the European Union, will join BlackRock Inc as an adviser next month, the...
China Gears Up To Take On Trump Even As Domestic Economy Slows To 26-Year Low
Fri, 20 Jan 2017 17:09:16 +0000

The hot-and-happening economy is showing cracks. China, the world's second largest economy behind the United States, saw its economic growth decelerate to the slowest pace in over a quarter of a century in 2016 as it strives to transition to a neutral policy. That said, optimists expressed comfort at a slight acceleration in economic growth for the first time in two years in the final quarter of 2016. The data comes amid testing times for China, which is being threatened by policy backlash from the United States where Republican candidate Donald Trump, a proponent of protectionists policy, assumes office Friday.

2016 GDP Slows; Q4 Picks Up Pace

Data released by the Chinese National Bureau of Statistics showed that the Chinese economy grew at an annualized pace of 6.7 percent in 2016. The fourth quarter saw a slight pick-up in pace to 6.8 percent year-over-year from the 6.7 percent run rate seen in each of the first three quarters. Economists were bracing for a slightly slower growth of 6.7 percent.

china-gdp-growth-annual.png
Source: Trading Economics

The 2016 growth, the slowest in about 26 years, followed 6.9 percent growth in 2015, but is within the central government target of 6.5–7.5 percent.

Credibility Of Data Under Question

Economists and market participants, however, take the macro data with a pinch of salt, as not many believe these are real numbers. Some provinces reportedly inflate statistics to show that local leaders have been successful in revving up the economic performance, while there are others who intentionally under-report for securing additional favors from the central government.

Some experts suggest the actual GDP growth number could be anywhere near 4 percent. However, even a 4 percent growth stacks up better against the developed nations such as the United States (1.7 ...

Full story available on Benzinga.com

Mid-Day Market Update: Crude Oil Up 2.8%; Bristol-Myers Squibb Shares Slide After Opdivo Decision
Fri, 20 Jan 2017 17:04:08 +0000

Midway through trading Friday, the Dow traded up 0.44 percent to 19,818.98 while the NASDAQ climbed 0.33 percent to 5,558.31. The S&P also rose, gaining 0.40 percent to 2,272.77.

Leading and Lagging Sectors

Non-cyclical consumer goods & services shares gained around 1.02 percent in trading on Friday.

In trading on Friday, healthcare shares slipped by 0.03 percent. Meanwhile, top losers in the sector included Bristol-Myers Squibb Co (NYSE: BMY), down 10 percent, and Synergy Pharmaceuticals Inc (NASDAQ: SGYP), down 9 percent.

Top Headline

General Electric Company (NYSE: GE) reported in-line earnings for its latest quarter, but sales missed expectations.

General Electric posted adjusted Q4 earnings of $0.46 per share on revenue of $33.1 billion. Analysts projected earnings of $0.46 per share on revenue of $33.6 billion.


Equities Trading UP

Interpace Diagnostics Group Inc (NASDAQ:

Full story available on Benzinga.com

Live Cattle Futures Losses Accelerate
Fri, 20 Jan 2017 16:33:31 +0000

February live cattle is trading at 119.42, down 1.60 cents/lb. April live cattle is trading at ...

Full story available on Benzinga.com

Silicon Valley’s immigrant community anxiously anticipates President Trump
Fri, 20 Jan 2017 16:29:00 +0000
High-skilled tech immigrants worry about the Trump administration’s stance on immigration, BuzzFeed News reports.
ECB probed by watchdog over ties with bankers in G30 group
Fri, 20 Jan 2017 16:06:58 +0000
FRANKFURT (Reuters) - The European Union's ethics watchdog has opened an inquiry into the participation of European Central Bank President Mario Draghi and senior ECB officials in the work of an exclusive group that includes bankers and fund managers.
What Might To Expect From MCD and HAL Earnings
Fri, 20 Jan 2017 16:05:58 +0000

Two major U.S.-based companies with two different stories are in line to open their Q4 books on Monday before the market opens. McDonald's Corporation (NYSE: MCD) may offer some insight as to how consumers are eating while on the run, and Halliburton Company (NYSE: HAL) is on tap to shed some light into the recovering—maybe—oilfield services business.

McDonald’s—Food and Franchisees

Under the golden arches, executives have been scrambling to cook up new menu items and recast old-time favorites to fit changing consumer tastes toward healthier foods. It’s been two years into a turnaround plan that was prompted by the deepest sales slump in a decade. That, the company conceded, was caused in part by competition from a growing number of fast-food competitors serving up healthy choices. Another issue has been an overall slowdown in customer traffic in the fast-food segment.

MCD has taken steps to overhaul its menu to be, in its words, “viewed by its customers as a modern and progressive burger company delivering a contemporary customer experience.” That hasn’t been easy for a nearly 62-year-old giant that operates over 36,000 restaurants in 120 countries, some analysts note.

Some analysts will be looking at the progress of a company initiative that plans to turn over some 4,000 corporate-owned stores to franchisees by the end of 2018. MCD says it wants to up its franchisee-held stores to 95% of the total from the current 83%.

Also on some analysts’ minds could be the future of the all-day breakfast menu, a successful initiative when launched in 2015. MCD also now sells a kids’ version of the menu. Other possible analyst questions might include whether any new ...

Full story available on Benzinga.com

AIG to pay Buffett's Berkshire about $10 billion in insurance deal
Fri, 20 Jan 2017 16:03:27 +0000
NEW YORK (Reuters) - American International Group Inc has agreed to pay roughly $10.2 billion to Warren Buffett's Berkshire Hathaway Inc to take on many long-term risks on U.S. commercial insurance policies it has already written.
Stock Index Futures Move Up
Fri, 20 Jan 2017 16:02:44 +0000

March SP500 is trading at 2270.00, up 8.50.

March Nasdaq 100 is trading at 5064.00, up 10.50.

March Russell 2000 is trading at 1353.9, ...

Full story available on Benzinga.com

USD/CAD Gains Erode
Fri, 20 Jan 2017 15:59:08 +0000

USD/CAD is trading at 1.3332, up 0.0010.

The pair is trading choppy, the session gains have eroded as overseas ...

Full story available on Benzinga.com

New poll shows Obamacare is more popular than Donald Trump
Fri, 20 Jan 2017 15:57:00 +0000
In Fox News poll, the controversial healthcare plan exceeded President-elect Trump in popularity, Vox reports.
USD/JPY Little Changed
Fri, 20 Jan 2017 15:51:38 +0000

USD/JPY is trading at 114.97, up 0.04.

The pair is trading choppy as forex traders await today's speech from the ...

Full story available on Benzinga.com

AUD/USD Trading Lower
Fri, 20 Jan 2017 15:47:02 +0000

AUD/USD is trading at 0.7547, down 0.0018.

The pair is trading at in the middle of the session range as overseas forex ...

Full story available on Benzinga.com

Inauguration Day: Trump Speech In Focus As New President Prepares To Take Office
Fri, 20 Jan 2017 15:00:59 +0000

There’s really only one major story in the markets today: The inauguration of a new U.S. president.

With no major economic data on tap, the inauguration of Donald Trump is likely to draw everyone’s full attention. Though an inaugural speech is generally short and not often full of specific policy ideas, it’s worth listening to get a sense of any economic moves the new administration might make. And speaking of those, there’s possibly going to be some executive orders going out not long after Trump moves into 1600 Pennsylvania Avenue, media outlets reported. The question is whether any of those orders might have an impact on stocks and bonds.

Equities exhibited weakness ahead of last fall’s election, and the same thing has happened going into today’s inauguration. On Thursday, the S&P 500 Index (SPX) posted its lowest close in more than two weeks, and the Dow Jones Industrial Average (DJIA) logged its fifth-straight down day. Real estate and energy were among the worst sector performers.

As was the case before the election, there haven’t been any major plunges during this stretch, just a general feeling of lethargy. There’s a sense that the markets had a great run in the month after the election amid good feelings about what the new administration might do, and now people are waiting to see exactly how the incoming president might bring such changes about. Sectors that could see a quick impact from new policies include info tech, energy, industrial, materials, health care and any sector or company with a major foothold overseas.

While there’s optimism about the possibility of lower taxes, reduced regulations, and infrastructure spending, there’s also concern about possible trade barriers, how the new administration plans to handle health care, and the continued Trump tweets that have often been ...

Full story available on Benzinga.com

Op-Ed: Donald Trump is going to bring us trade wars, big time
Fri, 20 Jan 2017 14:58:00 +0000
Trump wants confrontational trade policies, and Congress will help him get them, writes Vox's Matt Yglesias.
Mizuho Securities hires Pramod Shenoi for Asia unit
Fri, 20 Jan 2017 14:53:38 +0000
(Reuters) - Mizuho Securities Asia Ltd, a unit of Mizuho Securities Co. Ltd, said it named Pramod Shenoi as regional head of FIG debt capital markets in December 2016.
Cerno hires Tom Milnes as business development director
Fri, 20 Jan 2017 14:52:59 +0000
(Reuters) - Cerno Capital appointed Tom Milnes as business development director to assist with the investment manager's intermediary client relationships and enhance compliance with investment needs.
Goldman Sachs rejects Indonesian businessman's $1.1 billion claim over share trade
Fri, 20 Jan 2017 14:51:22 +0000
JAKARTA (Reuters) - Goldman Sachs has rejected allegations by an Indonesian businessman who is seeking $1.1 billion in damages from the U.S. bank for making what he called "unlawful" trades in the shares of a property firm.
Goldman Sachs rejects Indonesian businessman's $1.1 billion claim over share trade
Fri, 20 Jan 2017 14:51:22 +0000
JAKARTA (Reuters) - Goldman Sachs has rejected allegations by an Indonesian businessman who is seeking $1.1 billion in damages from the U.S. bank for making what he called "unlawful" trades in the...
Fears of economic 'race to bottom', strong dollar in Davos
Fri, 20 Jan 2017 14:30:10 +0000
DAVOS, Switzerland (Reuters) - A strengthening dollar and a "race to the bottom" on taxes, deregulation and trade policy are the major risks to an otherwise brightening global economy, financial leaders said on the final day of the World Economic Forum in Davos.
Philly Fed's Harker sees three U.S. rate hikes 2017
Fri, 20 Jan 2017 14:25:02 +0000
SOMERSET, N.J. (Reuters) - Philadelphia Federal Reserve President Patrick Harker said on Friday he expects three interest rate increases in 2017 if the labor market improves further and inflation...
Philly Fed's Harker sees three US rate hikes 2017
Fri, 20 Jan 2017 14:24:00 +0000
Philadephia Federal Reserve President Patrick Harker said he expects three interest rate increases in 2017 if the labor market improves.
Investment Focus: History suggests Trump month will be stocks down, dollar up
Fri, 20 Jan 2017 14:18:34 +0000
LONDON (Reuters) - For financial markets, the Trump era begins on Monday, and if history is any guide the following month should be a rocky one for Wall Street but positive for the dollar.
In Trump We Trust: Inauguration prompts celebration in Russia
Fri, 20 Jan 2017 14:16:00 +0000
Russia is in the grip of "Trumpomania", with state media giving the President-elect blanket air time.
Trump tweets are now all over $25,000 Bloomberg terminals
Fri, 20 Jan 2017 14:05:00 +0000
The Bloomberg terminal, the operating system of the financial industry, is now well-equipped to turn a Trump tweet into money, Buzzfeed reports.
Exclusive: HSBC cutting around 100 senior banking jobs globally - sources
Fri, 20 Jan 2017 13:47:22 +0000
LONDON (Reuters) - HSBC has begun cutting around 100 senior jobs in its investment banking division worldwide this week, according to sources with direct knowledge of the matter.
Ford to record pre-tax remeasurement loss of $3 billion in 2016
Fri, 20 Jan 2017 13:43:55 +0000
(Reuters) - Ford Motor Co said on Friday it would record a pre-tax remeasurement loss of about $3 billion related to its pension plans and other post-retirement employee benefits plans.
Trump Inauguration May Impact Trading On Wall Street
Fri, 20 Jan 2017 13:40:38 +0000
The major U.S. index futures are pointing to a modestly higher open on Friday on the heels of the moderate weakness seen in the previous session. Early trading activity is likely to be somewhat subdued, however, as traders await incoming President Donald Trump's inaugural address.
U.S. bankers tell Europeans to think positively on Trump
Fri, 20 Jan 2017 13:40:13 +0000
DAVOS, Switzerland (Reuters) - U.S. bankers, buoyed by a resurgence in profits, are advising their counterparts in Europe to think positively about the new administration of U.S. President-elect Donald Trump.
Uber pays $20 million to settle claims of driver deception
Fri, 20 Jan 2017 13:32:00 +0000
The agreement announced Thursday with the FTC covers statements Uber made from late 2013 until 2015.
Ireland Factory Gate Prices Rebound In December
Fri, 20 Jan 2017 11:47:02 +0000
Ireland's output prices increased in December after falling in the previous month, figures from the Central Statistics Office showed Friday.
Latvia PPI Falls At Slower Rate In December
Fri, 20 Jan 2017 11:31:40 +0000
Latvia's producer prices decreased at a slower pace in December, figures from the Central Statistical Bureau showed Friday.
U.K. Retail Sales Fall At Fastest Pace Since 2012
Fri, 20 Jan 2017 11:26:13 +0000
U.K. retail sales declined at the fastest pace in more than four years in December as consumers minimized their spending amid rising inflation. Retail sales volume including auto fuel fell 1.9 percent from November, when it dropped by a marginal 0.1 percent, the Office for National Statistics said Friday.
Greece Current Account Deficit Widens Slightly In November
Fri, 20 Jan 2017 11:20:52 +0000
Greece's current account deficit increased marginally in November, preliminary figures from the Bank of Greece showed Friday.
Who said what at Davos: World leaders speak out at 2017's WEF annual meeting
Fri, 20 Jan 2017 10:59:00 +0000
CNBC takes a look back at some of the most memorable quotes from the World Economic Forum 2017.
Barclays vice chairman of banking Matthew Ponsonby to retire: memo
Fri, 20 Jan 2017 10:43:15 +0000
LONDON (Reuters) - Barclays vice chairman of banking, Matthew Ponsonby will retire from the British bank at the end of January, according to a memo seen by Reuters on Friday.
Forecasters Lift Eurozone Inflation Outlook: ECB
Fri, 20 Jan 2017 10:16:15 +0000
Eurozone near-term inflation was forecast to be higher than previous projection on higher oil prices, while longer-term inflation expectations remain unchanged, according to the Survey of Professional Forecasters published by European Central Bank.
Economic Data Scheduled For Friday
Fri, 20 Jan 2017 09:35:00 +0000
  • Philadelphia Federal Reserve Bank President Harker is set to speak in Somerset, N.J. at 9:00 a.m. ET.
  • The Baker Hughes ...

Full story available on Benzinga.com

Citi sees 10 percent net new money growth near term in Asia wealth business
Fri, 20 Jan 2017 08:39:44 +0000
HONG KONG (Reuters) - Citigroup said a focus on rich young Asians and new products has helped accelerate net new money growth at its Asia-Pacific consumer wealth business in 2016 to about 10 percent,...
Indonesia's worried about market 'psychology' with JPMorgan report
Fri, 20 Jan 2017 08:36:20 +0000
JAKARTA (Reuters) - Indonesia's reform-minded finance minister seemed to invoke memories of the 1997-98 Asian financial crisis this week when explaining why she came down so hard on JPMorgan Chase &...
Denmark Retail Sales Fall For Second Month
Fri, 20 Jan 2017 08:23:21 +0000
Denmark's retail sales decreased for the second straight month in December, preliminary figures from Statistics Denmark showed Friday.
China and India can rely on young spenders to help Asia survive: Deloitte
Fri, 20 Jan 2017 07:12:00 +0000
Global consulting firm Deloitte has some soothing news for those worried about the economic fallout in Asia from possible trade war.
Heineken in talks to buy Kirin's Brazilian beer operations
Fri, 20 Jan 2017 06:34:00 +0000
The deal could happen as soon as this year and cost the Dutch brewer about $870 million.
European Economics Preview: U.K. Retail Sales Data Due
Fri, 20 Jan 2017 06:22:38 +0000
Retail sales from the U.K. is the only major report due on Friday, headlining a light day for the European economic news.
Estonia Producer Prices Rise For Third Month
Fri, 20 Jan 2017 06:18:09 +0000
Estonia's producer prices increased for the third successive month in December, figures from Statistics Estonia showed Thursday.
China's GDP Growth Improves In Q4
Fri, 20 Jan 2017 05:41:18 +0000
China's economy expanded at a faster pace in the fourth quarter on spending, while the full-year growth hit the weakest in 26 years, data from the National Bureau of Statistics revealed Friday. Gross domestic product grew 6.8 percent in the fourth quarter, while economists expected the rate to stabilize again at 6.7 percent.
European markets open slightly lower, Trump to take office
Fri, 20 Jan 2017 05:33:00 +0000
Europe's markets opened slightly lower this Friday ahead of the inauguration of soon-to-be U.S. President Donald Trump.
Australia New Home Sales Rebound Strongly In November: HIA
Fri, 20 Jan 2017 03:56:03 +0000
New home sales in Australia surged in November after falling sharply in the previous month, the Housing Industry Association said on Friday.
China GDP Climbs 6.8% On Year In Q4
Fri, 20 Jan 2017 02:17:00 +0000
China's gross domestic product expanded 6.8 percent on year in the fourth quarter of 2016, the National Bureau of Statistics said on Friday.
Toshiba starts process to sell stake in chip business: Kyodo
Fri, 20 Jan 2017 01:19:00 +0000
Toshiba has started the process to sell a minority stake in its profitable flash memory chip business.
Las Vegas Sands pays $7 million to end US criminal bribery case
Fri, 20 Jan 2017 00:29:00 +0000
Las Vegas Sands agreed to pay a criminal penalty to end a Department of Justice probe into whether it violated a federal anti-bribery law.
Democrats ask U.S. brokerages if they support delay to fiduciary rule
Thu, 19 Jan 2017 23:29:04 +0000
NEW YORK (Reuters) - One of the strongest proponents of the Democrats on financial regulation demanded on Thursday that big brokerages come clean about whether they would support delaying a new rule...
Panasonic aims to move Tesla auto partnership beyond batteries: CEO
Thu, 19 Jan 2017 23:17:00 +0000
Panasonic aims to extend its partnership with electric car maker Tesla Motors beyond batteries and into self-driving technology.
Chinese Data On Tap For Friday
Thu, 19 Jan 2017 22:31:59 +0000
China is scheduled to release a raft of data on Friday, highlighting a modest day for Asia-Pacific economic activity. On tap are Q4 numbers for gross domestic product, as well as December data for industrial production, retail sales and fixed asset investment.
Trump's Commerce Secretary Nominee Explains How U.S. Gets Screwed In Trade
Thu, 19 Jan 2017 21:07:02 +0000

President-elect Donald Trump tapped fellow billionaire investor Wilbur Ross to serve as commerce secretary.

According to a CNN Money report, Ross shares Trump's vision of cracking down on countries such as China that are taking advantage of U.S. policies in trade. Specifically, he called out China and other countries for "malicious" trading when speaking to the U.S. Senate on Wednesday.

Ross explained that some of the tactics includes as excessive ...

Full story available on Benzinga.com

Trump threats could inadvertently encourage more Mexican auto investments
Thu, 19 Jan 2017 20:35:00 +0000
Industry officials said a sharp slump in the peso could offset import tariffs, leading them to consider Mexican manufacturing options, NBC News reports.
Exclusive: Can A Successful Investor-Turned-Politician Make Canada 'Wonderful£'
Thu, 19 Jan 2017 20:11:46 +0000

On Wednesday, “Shark Tank” host and O’Shares Investments chairman Kevin O’Leary announced a bid for the leadership of Canada’s Conservative party.

Members of Canada’s Conservative party will vote on a leader May 27, who will challenge Prime Minister Justin Trudeau of the Liberal party in the 2019 federal election.

O’Leary is entering into a race similar to a primary vote in the American electoral system, in which voters of the major parties select a candidate to represent the party in the general election.

In his first exclusive interview with an American publication, O’Leary told Benzinga why he decided to run.

Give Me The 90-Second Pitch Of Your Candidacy.

I’ve been very lucky in my life. I’m the son of a Lebanese immigrant to Canada who provided tremendous opportunity to me, and now I have my own children. I made the assumption, like everybody else did, that when Justin Trudeau took power, he would be a great steward of Canada.

That has not ended up being the case. What has happened is that he doesn’t have a plan for Canada and he doesn’t know how to deal with Trump. What’s happened here in the last few months is that the big surprise of Trump’s election has changed the course of Canada in a dangerous way. Trudeau decided that he was going to turn Canada green through carbon taxes, increasing corporate taxes, increasing personal taxes, regulating the oil and gas industry.

The black swan event of Trump’s election has completely changed the course of what’s happening in America. All of a sudden, Trump is looking the other way, deregulating, lowering corporate tax, lowering personal tax, and now capital that would have been attracted to Canada will now go to shale in Texas and other places. Canada is all ...

Full story available on Benzinga.com

Oakland Raiders apply to NFL to relocate to Las Vegas
Thu, 19 Jan 2017 19:23:00 +0000
The Raiders have been unhappy with their stadium in northern California.
Trump has gone ‘above and beyond’ on conflicts of interest, incoming press secretary says
Thu, 19 Jan 2017 19:18:00 +0000
He also defended Trump's decision to dine at his own Washington D.C. hotel on Thursday night, NBC News reports.
Op-Ed: The past 10 presidencies, explained by the TV shows that defined them
Thu, 19 Jan 2017 17:28:00 +0000
From "All in the Family" to "Parks and Recreation," here are the past 10 presidencies and the TV shows that defined them, according to Vox's Todd VanDerWerff.
Mother Nature Will Determine Future Of Portfolio When It Comes To Climate Change Stocks
Thu, 19 Jan 2017 16:49:10 +0000

This article was originally published by Motif Investing.

Lately, Arctic ice hasn’t been the only thing that appears to be melting down. Investors who put their money in climate change-related stocks may be feeling as though the values of their portfolios are vanishing, as well. Shares in First Solar, Inc. (NASDAQ: FSLR), the Tempe, Ariz.-based manufacturer of utility-scale solar power plants, are down more than 50 percent over the last year. Stock in Cameco Corp (USA) (NYSE: CCJ), the world’s biggest publicly traded uranium mining company, has been climbing steadily but remains about 30 percent off its one-year high. And Maxwell Technologies Inc. (NASDAQ: MXWL), the San Diego developer and manufacturer of energy storage products, has suffered a nearly 30 percent loss in stock value over the last year.

Almost eight years after the White House and Congress passed a mammoth $787 billion economic stimulus package that included roughly $90 billion in renewable energy investments and tax credits, there’s little political relief in sight for the climate change industry from the nation’s capital. Although 97.1 percent of the 11,944 climate-related studies between 1991 and 2011 endorsed the theory that humans are causing global warming, President Donald Trump has described climate change as an issue “created by and for the Chinese in order to make U.S. manufacturing non-competitive.” Rep. Lamar Smith, the Texas Republican who leads the House Science Committee, has accused researchers of altering data to push former President Barack Obama’s “extreme climate agenda.”

Evidence, however, suggests that Mother Nature is not impressed. And even the most die-hard skeptic has to acknowledge ...

Full story available on Benzinga.com

Your Money: How the deck is stacked against student loan borrowers
Thu, 19 Jan 2017 16:35:37 +0000
NEW YORK (Reuters) - Paying back your student loans is hard enough. It certainly does not help when the trillion-dollar industry seems set up to make you fail.
Citigroup unit to pay $25 million over 'spoofing' in US Treasury futures
Thu, 19 Jan 2017 15:30:00 +0000
The bank settled the case without admitting or denying the charges.
Draghi Says Underlying Inflation Pick Up Unconvincing
Thu, 19 Jan 2017 15:23:04 +0000
Eurozone inflation is being driven largely by energy costs and the recent pick up in momentum is unlikely to sustain, European Central Bank President Mario Draghi said Thursday, adding that policymakers will continue to look through transient changes. "There are no signs yet of a convincing upward trend in underlying inflation," Draghi said.
As Inauguration Looms, Market Participants Eager To Hear Policy Plans
Thu, 19 Jan 2017 15:17:04 +0000

Earnings reports, speeches by Fed Chair Janet Yellen, and economic data are starting to take a backseat to a big event planned in Washington, D.C., tomorrow.

Let’s face it: Friday’s inauguration of Donald Trump as the 45th President is the underlying theme of this week’s market, though it’s somewhat difficult to quantify any immediate effect it may have on stocks and bonds as we transition from candidate promises to office holder implications. Currencies may already be feeling the Twitter Inc (NYSE: TWTR) impact, however, as Trump made some remarks about the dollar earlier this week that helped pressure the currency and seems to have spooked some overseas markets, particularly Japan’s Nikkei.

Market participants have heard many of the incoming administration’s plans, but there’s hunger for more information on how those plans might be implemented. The ongoing cabinet hearings, including that of Treasury nominee Steven Mnuchin, could be in the limelight as well.

Volatility spiked on Wednesday and it wouldn’t be too surprising to see VIX continue to show strength, in part because the market remains on tenterhooks awaiting more detail on the new president’s economic strategies. Perhaps we’ll hear more on Friday when he takes office. VIX remained above 12 early Thursday; higher than recent readings but still rather low historically.

Overseas, the Nikkei continued its recovery from Tuesday’s slide, and the European Central Bank (ECB) left rates and its bond-buying program unchanged. The ECB decision was as analysts expected, but the wildcard is what ECB President Mario Draghi might say in his press conference. In particular, it could be wise to listen to any comments he ...

Full story available on Benzinga.com

This rare market 'screams' for investors for have a point of view, Morgan Stanley CEO says
Thu, 19 Jan 2017 15:07:00 +0000
"You can't sit on your hands," James Gorman tells CNBC from Davos.
US Mid-Atlantic business activity highest in two years: Philly Fed
Thu, 19 Jan 2017 14:45:00 +0000
Business activity in U.S. Mid-Atlantic region at strongest level in over two years, says Philadelphia Federal Reserve.
Philly Fed Index Unexpectedly Climbs To Two-Year High In January
Thu, 19 Jan 2017 14:32:28 +0000
Philadelphia-area manufacturing activity unexpectedly grew at a faster pace in the month of January, the Federal Reserve Bank of Philadelphia revealed in a report on Thursday. The Philly Fed said its index for current manufacturing activity in the region rose to 23.6 in January from a revised 19.7 in December.
U.S. Housing Starts Rebound In December But Building Permits Dip
Thu, 19 Jan 2017 14:22:40 +0000
After reporting a steep drop in new U.S. residential construction in the previous month, the Commerce Department released a report on Thursday showing that housing starts saw a significant rebound in the month of December. The Commerce Department said housing starts jumped by 11.3 percent to an annual rate of 1.226 million in December.
Over 652K vehicles involved in latest Takata air bag recall
Thu, 19 Jan 2017 14:17:00 +0000
Thirteen automakers are recalling more than 652,000 vehicles in the U.S. in the latest round of dangerous Takata air bag inflator recalls.
U.S. Weekly Jobless Claims Unexpectedly Drop To Two-Month Low
Thu, 19 Jan 2017 14:09:44 +0000
First-time claims for U.S. unemployment benefits unexpectedly declined in the week ended January 14th, according to a report released by the Labor Department on Thursday. The report said initial jobless claims fell to 234,000, a decrease of 15,000 from the previous week's revised level of 249,000.
Choppy Trading May Persist On Wall Street Ahead Of Trump Inauguration
Thu, 19 Jan 2017 14:00:18 +0000
The major U.S. index futures are pointing to a slightly lower opening on Thursday, although trading activity may remain somewhat subdued ahead of President-elect Donald Trump's inauguration on Friday. Trump's surprise victory initially triggered a rally on Wall Street, but traders have recently seemed reluctant to make significant moves.
U.S. Weekly Jobless Claims Show Unexpected Decrease
Thu, 19 Jan 2017 13:45:29 +0000
First-time claims for U.S. unemployment benefits unexpectedly declined in the week ended January 14th, according to a report released by the Labor Department on Thursday.
Philly Fed Index Unexpectedly Climbs To 23.6 In January
Thu, 19 Jan 2017 13:42:08 +0000
Philadelphia-area manufacturing activity unexpectedly grew at a faster pace in the month of January, the Federal Reserve Bank of Philadelphia revealed in a report on Thursday.
U.S. Housing Starts Rebound 11.3% In December
Thu, 19 Jan 2017 13:37:31 +0000
After reporting a steep drop in new U.S. residential construction in the previous month, the Commerce Department released a report on Thursday showing that housing starts showed a significant rebound in the month of December.
US jobless claims fall unexpectedly in latest week
Thu, 19 Jan 2017 13:31:00 +0000
The number of Americans filing initial claims for unemployment benefits fell unexpectedly last week back to near the lowest levels in decades.
US housing starts rebound strongly in December
Thu, 19 Jan 2017 13:30:00 +0000
U.S. homebuilding rebounded more than expected in December, suggesting that the housing market contributed to economic growth in the fourth quarter.
ECB Holds Fire Amid Robust Eurozone Economic Activity
Thu, 19 Jan 2017 13:23:00 +0000
The European Central Bank left its key interest rates unchanged for a seventh consecutive policy session and maintained its asset purchases, which will continue at a reduced pace till the end of this year, as the solid economic momentum is sustained in the euro area despite the continuing political flux.
ECB Holds Rates Unchanged For Seventh Session
Thu, 19 Jan 2017 12:58:34 +0000
The European Central Bank left its key interest rates unchanged for a seventh consecutive policy session and maintained its asset purchases, confirming that they will continue at a reduced pace till the end of this year.
FX rates not a target: ECB President
Thu, 19 Jan 2017 12:25:00 +0000
ECB President Mario Draghi says it’s very early for the central bank to comment on the President-Elect’s statements surrounding certain currencies.
Final Brexit outcome will be very important, says Draghi
Thu, 19 Jan 2017 12:25:00 +0000
ECB President Mario Draghi says it is too early to assess the impact of Brexit following the U.K. Prime Minister’s speech. Added comments on inflation.
Euro zone recovery is in interest of everybody, even Germany: ECB
Thu, 19 Jan 2017 12:25:00 +0000
ECB President, Mario Draghi tells CNBC that low rates are necessary now to get higher rates later.
ECB’s Draghi: Will look through changes in HICP inflation if transient
Thu, 19 Jan 2017 12:25:00 +0000
ECB President Mario Draghi outlines the key points from the central bank’s latest monetary policy decisions.
Risks around growth outlook tilted to downside: ECB
Thu, 19 Jan 2017 12:22:00 +0000
ECB President Mario Draghi talks about the recovery in investment while commenting on inflation and other economic factors.
ECB will phase out QE very slowly: Citi’s Buiter
Thu, 19 Jan 2017 12:22:00 +0000
Citigroup Chief Economist Willem Buiter talks about the future strategy of the European Central Bank, with comment on tapering.
Markets never get it right: Citi Chief Economist
Thu, 19 Jan 2017 12:22:00 +0000
Citigroup Chief Economist Willem Buiter talks about Donald Trump’s incoming policies, and how that has influenced the market. Added comments on the Federal Reserve.
ECB holds fire on rates in January
Thu, 19 Jan 2017 12:22:00 +0000
The European Central Bank has decided to keep its main rates and bond-buying program at the same level during its January meeting. CNBC’s Annette Weisbach reacts.
Globalization Should Benefit Everyone, UK PM May Says At Davos
Thu, 19 Jan 2017 12:10:26 +0000
Governments and businesses should adopt a new approach to help everyone benefit from globalization, British Prime Minister Theresa May said Thursday. In a speech at the World Economic Forum meeting at Davos, Switzerland, May urged all businesses to demonstrate leadership through playing by the same tax rules.
Spain Trade Deficit Narrows In November
Thu, 19 Jan 2017 12:09:25 +0000
Spain's foreign trade deficit decreased in November from a year ago, as exports grew faster than imports, figures from the Economy Ministry showed Thursday.
Portugal Producer Prices Climb In December
Thu, 19 Jan 2017 11:50:57 +0000
Portugal's producer prices increased at the end of the year, figures from Statistics Portugal showed Thursday.
Ireland CPI Remains Flat In December
Thu, 19 Jan 2017 11:28:02 +0000
Ireland's consumer prices remained unchanged in December after falling in the previous two months, figures from the Central Statistics Office showed Thursday.
Hong Kong Jobless Rate Remains Stable As Expected
Thu, 19 Jan 2017 10:55:49 +0000
Hong Kong's unemployment rate held steady in the three months ended December, in line with expectations, preliminary figures from the Census and Statistics Department showed Thursday.
Britain is open for business: UK leader Theresa May unveils bold manifesto at Davos
Thu, 19 Jan 2017 10:15:00 +0000
U.K. Prime Minister Theresa May declared Britain would remain open for business when speaking in Davos on Thursday.
Eurozone Current Account Surplus At Record High
Thu, 19 Jan 2017 09:59:00 +0000
The euro area current account surplus reached a record high level in November, the European Central Bank reported Thursday.
Economic Data Scheduled For Thursday
Thu, 19 Jan 2017 09:51:57 +0000
  • Data on housing starts for December will be released at 8:30 a.m. ET.
  • Data on initial jobless claims for the latest week will be released at 8:30 a.m. ET.
  • The Philadelphia Fed general conditions index for January is schedule for release ...

Full story available on Benzinga.com

S. Africa Wholesale Sales Rebound In November
Thu, 19 Jan 2017 08:15:48 +0000
South Africa's wholesale sales increased in November, after falling in the previous month, preliminary figures from Statistics South Africa showed Thursday.
Dutch Jobless Rate Drops In December
Thu, 19 Jan 2017 06:54:00 +0000
Dutch unemployment rate decreased at the end of the year, after remaining stable in the previous month, figures from the Central Bureau of Statistics showed Thursday.
ECB To Maintain Status Quo At Start Of Year
Thu, 19 Jan 2017 06:35:27 +0000
The European Central Bank is unlikely to announce any policy change on Thursday, after extending and trimming asset purchases in December, as the solid economic momentum is sustained in the euro area despite the continuing political flux. The bank is widely expected to maintain interest rates and asset purchases. Economists widely expect the central bank to hold fire until April.
China says can resolve trade disputes with new US government
Thu, 19 Jan 2017 06:25:00 +0000
China and the United States can resolve any trade disputes through talks, the government said on Thursday.
European bourses open higher; Draghi speech in focus
Thu, 19 Jan 2017 05:29:00 +0000
Europe opened higher on Thursday as investors digest remarks from Fed Chair Janet Yellen and wait to hear from the ECB's Mario Draghi.
ECB and the tapering debate
Thu, 19 Jan 2017 05:26:00 +0000
The European Central Bank is expected to keep its rates on hold at its latest meeting in January. CNBC’s Annette Weisbach reports on what to expect.
Pentagon, Lockheed near deal on $9 billion F-35 contract
Thu, 19 Jan 2017 02:31:00 +0000
The U.S. Department of Defense and Lockheed Martin are close to deal for a contract worth almost $9 billion.
Toshiba shares slump on reports of US nuclear business loss
Thu, 19 Jan 2017 00:32:00 +0000
Toshiba shares slumped on Thursday after a media report said the industrial conglomerate will post a loss of more than 500 billion yen.
The Fed may be headed for a clash with Trump...but not over interest rates
Wed, 18 Jan 2017 22:22:00 +0000
The bond market is worried that if Donald Trump succeeds in stimulating the economy, it could mean he will clash with the Fed.
Fact checking Donald Trump's job creation claims
Wed, 18 Jan 2017 21:13:00 +0000
Is the president-elect actually behind what might appear to be a hiring bonanza£ Economic evidence suggests otherwise, NBC News reports.
Obama defends decision to commute Chelsea Manning's sentence
Wed, 18 Jan 2017 20:04:00 +0000
"I feel very comfortable that justice has been served," Obama said.
By announcing new jobs, corporations help themselves, too
Wed, 18 Jan 2017 18:59:00 +0000
"It might be an attempt to buy good will, but I don't blame them for trying to do that," said Tom C. Korologos, a longtime Republican strategist says, New York Times reports.
Facebook dismissive of censorship, abuse concerns, rights groups allege
Wed, 18 Jan 2017 18:48:00 +0000
The rights groups said they experienced an "uneven application" of Facebook's community standards and drawbacks due to relying on users to report abusive content.
US consumer agency sues Navient for 'failing' student loan borrowers
Wed, 18 Jan 2017 18:42:00 +0000
The U.S. agency said the student loan servicer was "systematically and illegally failing borrowers at every stage of repayment."
US sues Oracle, alleges salary and hiring discrimination
Wed, 18 Jan 2017 18:37:00 +0000
In a recent lawsuit, the U.S. Labor Department alleges that Oracle America systematically discriminated against certain workers.
Companies are recycling old news to avoid being the target of a Trump Twitter attack
Wed, 18 Jan 2017 18:13:00 +0000
Companies eager to avoid becoming the target of a Trump Twitter attack are pre-emptively announcing US job-creation plans, NBC News reports.
Thief walks away after Cannes jewelry heist worth 15 million euros
Wed, 18 Jan 2017 18:10:00 +0000
The Croisette has been hit by another audacious robbery.
Consumer prices rise on higher gasoline, rent costs
Wed, 18 Jan 2017 17:31:00 +0000
U.S. consumer prices rose in December as households paid more for gasoline and rental accommodation.
Commerce nominee Wilbur Ross: Unfair trade partners should be 'severely punished'
Wed, 18 Jan 2017 17:24:00 +0000
The billionaire investor promised that he would be open to trade on conditions that are favorable to U.S. interests.
JPMorgan CEO Jamie Dimon: If you like the Trump stock rally so far, just wait...
Wed, 18 Jan 2017 16:57:00 +0000
The bank chief tells CNBC that the economy could grow up to 4 percent this year with the right policies from Donald Trump.
Op-Ed: Why 21 states are wrong about raising the minimum wage
Wed, 18 Jan 2017 16:37:00 +0000
The best way to get wage increases is competition, not government intervention, says Abigail R. Hall-Blanco.
Fed's Kaplan, warning on debt, urges care on fiscal policies
Wed, 18 Jan 2017 15:47:00 +0000
Dallas Federal Reserve Bank President Robert Kaplan on Wednesday said that any new fiscal policies must take into account rising public debt.
Banks Still In Spotlight As Goldman Sachs Puts In Big Quarter, Netflix Up Next
Wed, 18 Jan 2017 14:58:25 +0000

Like clockwork, big bank earnings keep rolling in better than expected. Goldman Sachs Group Inc (NYSE: GS) and Citigroup Inc (NYSE: C), both of which reported early Wednesday, are the latest to beat Wall Street’s bottom-line estimates, though C came in a bit shy on the revenue side of the equation.

Today is the last day of banks basking in the earnings spotlight. Inflation data and a speech later this afternoon by Fed Chair Janet Yellen are the other key agenda items. Yellen is scheduled to speak on monetary policy and its tools in an address to the Commonwealth Club in San Francisco at 3 p.m. EST. Meanwhile, overseas, Japan’s Nikkei Stock Average, which had tanked on Tuesday in part due to a weaker dollar, posted moderate gains Wednesday as the dollar rebounded a bit.

Getting back to earnings: C came in at $1.14 per share, beating the average Wall Street analyst estimate by two cents. However, C fell short of estimates on revenue. GS killed it on earnings, reporting $5.08 per share, vs. a $4.82 Wall Street estimate, and also easily beat top-line estimates. Trading results looked awesome, and GS is the bank most influenced by trading. In its press release, GS said bond-related trading soared 78% in Q4, and cited “an environment generally characterized by improved market conditions, including rising interest rates and tighter credit spreads.”

Starting this afternoon, it’s on ...

Full story available on Benzinga.com

Business euphoria over Trump gives way to caution, confusion
Wed, 18 Jan 2017 14:49:00 +0000
Doubts deepened over the weekend as Trump declared he would replace Obamacare with "insurance for everybody."
US industrial production grew 0.8 percent in Dec. vs estimate of 0.6 percent increase
Wed, 18 Jan 2017 14:16:00 +0000
U.S. industrial production rebounded in December due to the biggest jump in utilities since 1989 as temperatures cooled across the country.
Earnings News, Economic Data In Focus On Wall Street
Wed, 18 Jan 2017 13:51:55 +0000
The major U.S. index futures are pointing to a higher opening on Wednesday, with stocks poised to regain some ground following the weakness seen in the previous session.
Larry Summers warns of a 'downward spiral' if Trump-style nationalism takes hold globally
Wed, 18 Jan 2017 12:14:00 +0000
Trump's populist policies may boost the US economy in the short run, but they pose a danger down the road, says Summers.
FHA premium drop ignites mortgage refinances, but applications overall are flat
Wed, 18 Jan 2017 12:03:00 +0000
Refinance volume rose 7 percent for the week, spurred by HUD saying the FHA would lower its insurance premium.
Economic Data Scheduled For Wednesday
Wed, 18 Jan 2017 09:51:11 +0000
  • The MBA’s index of mortgage application activity for the latest week is schedule for release at 7:00 a.m. ET.
  • The Consumer Price Index for December will be released at 8:30 a.m. ET.
  • The Johnson Redbook Retail Sales Index for the recent week is schedule for ...

Full story available on Benzinga.com

Europe opens higher; Burberry, Novozymes beat expectations
Wed, 18 Jan 2017 05:08:00 +0000
European bourses open higher on Wednesday after U.K. Prime Minister Theresa May provided further clarity on her aims for the upcoming Brexit talks.
Dow Chemical CEO Talks 4% GDP Growth Under Trump's Presidency
Tue, 17 Jan 2017 20:35:51 +0000

Dow Chemical Co (NYSE: DOW) CEO Andrew Liveris supported President-elect Donald Trump during the campaign cycle and was appointed to head a manufacturing council.

Among many reasons why the executive supported Trump was his belief the billionaire businessman can stimulate the economy to the point where it can grow 4 percent a year.

Speaking to Bloomberg from the World Economic Forum in Davos, Switzerland, Liveris pointed out that the U.S. economy has seen 4 percent ...

Full story available on Benzinga.com

Brainard joins Fed chorus warning about fiscal stimulus risks
Tue, 17 Jan 2017 17:31:00 +0000
A leading proponent of low interest rate policy at the Federal Reserve said the U.S. central bank might hike interest rates more aggressively.
Presidents have less power over the economy than you think
Tue, 17 Jan 2017 16:54:00 +0000
Presidents can certainly influence the economy, but they can't control it, New York Times correspondent Neil Irwin reports.
Highlights From Chinese President's Speech At Davos
Tue, 17 Jan 2017 15:56:50 +0000

Speaking at the World Economic Forum in Davos, Switzerland, China's President Xi Jinping said that "no one is a winner in a trade war."

Xi's comments are likely a warning shot to President-elect Donald Trump, whose harsh stance on China could result in a trade war against the world's second largest economy.

The full speech lasted more than 45 minutes and can be viewed on Bloomberg.

Shared Futures

"Today, mankind has become a close-knit ...

Full story available on Benzinga.com

Lew defends Obama economy: 'We have done a lot'
Tue, 17 Jan 2017 15:39:00 +0000
Lew defends the Obama administration's economic record, insisting that the past eight years have seen real gains.
Staples ETFs Confront A Potentially Hawkish Fed
Tue, 17 Jan 2017 15:32:53 +0000

Much is made of the impact of higher interest rates on various sectors. For example, conventional wisdom tells investors that financial services stocks often benefit from Federal Reserve tightening cycles while utilities stocks are laggards.

Historical data from various tightening cycles, indicate that while utilities do lag sometimes, the punishment is not usually severe. Conversely, financial stocks have disappointed in various eras of Fed tightening. Still, investors can react emotionally to the notion of higher rates and the subsequent impact on select sectors.

Utilities, Financials And Staples Amid Atmospheric Uncertainty

Hence, it might make sense that the Consumer Staples Select Sect. SPDR (ETF) (NYSE: XLP) draws a tepid neutral rating from AltaVista Research. XLP, ...

Full story available on Benzinga.com

Staples ETFs Confront A Potentially Hawkish Fed
Tue, 17 Jan 2017 15:32:53 +0000

Much is made of the impact of higher interest rates on various sectors. For example, conventional wisdom tells investors that financial services stocks often benefit from Federal Reserve tightening cycles while utilities stocks are laggards.

Historical data from various tightening cycles, indicate that while utilities do lag sometimes, the punishment is not usually severe. Conversely, financial stocks have disappointed in various eras of Fed tightening. Still, investors can react emotionally to the notion of higher rates and the subsequent impact on select sectors.

Utilities, Financials And Staples Amid Atmospheric Uncertainty

Hence, it might make sense that the Consumer Staples Select Sect. SPDR (ETF) (NYSE: XLP) draws a tepid neutral rating from AltaVista Research. XLP, ...

Full story available on Benzinga.com

Most small-business owners are optimistic about Trump and repealing Obamacare
Tue, 17 Jan 2017 15:32:00 +0000
Main Street hopes for a less expensive, less complicated alternative to the Affordable Care Act.
Cramer says Trump is ready to play hardball with China on trade
Tue, 17 Jan 2017 15:02:00 +0000
Cramer responds to comments made by Chinese President Xi Jinping on globalization at the World Economic Forum at Davos.
'Free trade is always better than no trade': JPMorgan International Chairman Jacob Frenkel
Tue, 17 Jan 2017 14:21:00 +0000
The contentious rhetoric around free trade will quiet down once its benefits are realized, Jacob Frenkel says.
New GM investment adding 1,500 jobs following Trump attack
Tue, 17 Jan 2017 14:11:00 +0000
General Motors, one of automakers criticized by President-elect Trump, is adding 1,500 jobs in the U.S. as part of its plans for an additional $1 billion investment in U.S. manufacturing operations.
Investors pumped up over Trump economy, survey says
Tue, 17 Jan 2017 14:03:00 +0000
Professional investors entered a new day for U.S. politics with high expectations tempered with caution.
'A.I. already is in so many things,' Salesforce CEO Benioff says
Tue, 17 Jan 2017 13:58:00 +0000
New developments in technology always cut jobs, but they will add more as they evolve, Salesforce's Marc Benioff says.
Futures Pointing To Early Weakness On Wall Street
Tue, 17 Jan 2017 13:53:39 +0000
The major U.S. index futures are pointing to a lower opening on Tuesday as trading resumes following the long holiday weekend. Nonetheless, trading activity may be light ahead of the release of closely watched economic data later this week.
Fed's Dudley sees low chance of Fed snuffing out expansion soon
Tue, 17 Jan 2017 13:47:00 +0000
William Dudley is president and CEO of the Federal Reserve Bank of New York and a voting member on the Fed's policy-setting committee.
Bank of America CEO says interest rates going up for the 'right reason'
Tue, 17 Jan 2017 13:43:00 +0000
The prospect of stronger economic growth and higher interest rates have had a big, positive impact, Brian Moynihan tells CNBC.
Social Security's looming $11 trillion shortfall
Tue, 17 Jan 2017 13:30:00 +0000
President-elect Donald Trump says he will preserve the program, yet its trust funds will be depleted by 2034.
We will stand for our values in trade and immigration, eBay CEO Devin Wenig says
Tue, 17 Jan 2017 13:18:00 +0000
The two factors are key components to eBay's business, CEO Devin Wenig tells CNBC.
What Donald Trump’s economic agenda means to you
Tue, 17 Jan 2017 12:53:00 +0000
Trump's pillars are infrastructure investment and tax and regulatory reform, influential factors for the near term.
We will take back control of Britain's laws: UK PM
Tue, 17 Jan 2017 12:40:00 +0000
CNBC’s Nancy Hungerford and Geoff Cutmore reacts to the latest comments delivered by U.K. Prime Minister Theresa May on the country’s future Brexit plans.
Attempts to punish Britain would hurt the EU: UK PM
Tue, 17 Jan 2017 12:33:00 +0000
British Prime Minister Theresa May says “no deal for Britain is better than a bad deal for Britain” when it comes to Brexit negotiations.
Economic Data Scheduled For Tuesday
Tue, 17 Jan 2017 11:04:45 +0000
  • The Empire State manufacturing index for January is schedule for release at 8:30 a.m. ET.
  • New York Federal Reserve Bank President William Dudley is set to speak in ...

Full story available on Benzinga.com

UK PM: Seek new and equal partnership with EU
Tue, 17 Jan 2017 09:42:00 +0000
British Prime Minister Theresa May says the country is not seeking a partial membership of the European Union while outlining the U.K.’s future plan.
Want to remove as many barriers to trade as I can: UK PM
Tue, 17 Jan 2017 09:42:00 +0000
British Prime Minister Theresa May talks about the U.K.’s future strategic plans when it comes to global trade.
We cannot have membership of the single market: UK PM
Tue, 17 Jan 2017 09:42:00 +0000
British Prime Minister Theresa May outlines how the U.K. will become a global trading nation, and how it must leave its membership of the EU’s single market behind.
Must deliver Brexit which works for all of UK: PM
Tue, 17 Jan 2017 09:42:00 +0000
British Prime Minister Theresa May talks about the U.K.’s future with the European Union and the deals and challenges it faces ahead.
UK PM: Brexit will define our country for many years
Tue, 17 Jan 2017 09:42:00 +0000
British Prime Minister Theresa May outlines the main objectives of the U.K.’s Brexit plan and how it wants to cooperate with the European Union and the world going forward.
Want Britain to be more secure: UK PM
Tue, 17 Jan 2017 09:42:00 +0000
British Prime Minister Theresa May says she wants the U.K. to emerge from this period of uncertainty as stronger, fairer, more united and more outward-looking than ever before.
Will continue to be reliable partner with EU: UK PM
Tue, 17 Jan 2017 09:42:00 +0000
British Prime Minister Theresa May talks about the U.K.’s relationship and differences between the country and the European Union.
Trump’s early focus on trade deals will disappoint markets: Pro
Tue, 17 Jan 2017 05:44:00 +0000
Eric Robertsen, head of global macro strategy and FX research at Standard Chartered Bank, takes a look at what’s behind the main moves in the yen and how trade relates to it.
Will UK PM deliver a 'Hard Brexit'£
Tue, 17 Jan 2017 05:11:00 +0000
U.K. Prime Minister Theresa May is expected to deliver a 12-point plan for the country’s departure from the EU. CNBC’s Nancy Hungerford takes a look at market expectations.
PM expected to say UK not looking for ‘half in, half out’ deal
Tue, 17 Jan 2017 05:11:00 +0000
CNBC’s Nancy Hungerford takes a look at what the U.K. Prime Minister Theresa May is expected to say during her Brexit speech on Tuesday.
European markets open lower on Brexit concerns
Tue, 17 Jan 2017 05:05:00 +0000
Markets in Europe were lower on Tuesday morning as investors wait to hear from the U.K. Prime Minister Theresa May on her Brexit plans.
The Trump transition and what it means for markets
Mon, 16 Jan 2017 07:43:00 +0000
Michael Browne, fund manager at Martin Currie, takes a look at how markets have reacted around Donald Trump and thoughts around what he could do for the economy.
EIU: Pressure growing on GOP to investigate Trump-Russia ties
Mon, 16 Jan 2017 06:56:00 +0000
Mike Jakeman, global analyst at Economist Intelligence Unit, talks about the future of the U.S.-Russia relations, in light of recent news.
Trump could succeed in reducing drug prices: BMI Research
Mon, 16 Jan 2017 06:53:00 +0000
Jamie Davies, head of pharmaceuticals, medical devices & healthcare at BMI Research, takes a look at the pharmaceutical sector and how Donald trump’s administration could impact it.
Trump's remarks on German migration policy is nothing new: Dep. Fin Min
Mon, 16 Jan 2017 06:52:00 +0000
Germany Deputy Finance Minister Jens Spahn says it wasn’t a catastrophic mistake for Germany to open up the borders to illegal immigrants.
Think ECB will be discussing getting out of QE: Spahn
Mon, 16 Jan 2017 06:52:00 +0000
Germany Deputy Finance Minister, Jens Spahn takes a look at the state of the European Central Bank’s monetary policy, and its strategy going forward.
Big Banks Benefit From Trading Binge After Election, But Retail Sales Come In Light
Fri, 13 Jan 2017 16:13:19 +0000

Investors got hit with a truckload of earnings and economic data Friday morning, and may spend much of today deciding what it all means. Big bank earnings, retail sales, inflation: You name it; we have it to discuss.

In a nutshell, strong earnings from Bank of America Corp(NYSE: BAC) and JPMorgan Chase & Co. (NYSE: JPM) reinforce what we’ve been talking about. We expected trading to be better due to the post-election rally, and that’s reflected in the numbers from these two big companies. Wells Fargo & Co(NYSE: WFC), which relies less on trading than BAC and JPM, didn’t perform as well.

And retail sales, which rose 0.6% in December, look like a bit of a disappointment, especially considering recent increases in consumer sentiment. Wall Street analysts had been expecting a 0.7% rise. Automobile sales led the way, but that was something we knew going in. It looks like holiday shopping perhaps was a little disappointing.

The markets are holding steady in the early going, and any rally could be on hold until we hear from more companies. There may be more emphasis on what the banks say on their earnings calls, as we wait to hear CEOs’ economic outlooks for 2017.

Let’s look at the earnings numbers. At BAC, earnings jumped to 40 cents a share from 27 cents a year earlier, above the Wall Street consensus of 38 cents a share. However, adjusted revenue of $20.22 billion was below the consensus estimate of $20.85 billion. Trading revenue rose 11% to $2.91 billion, with fixed income leading the way. Additionally, BAC committed to re-purchasing additional shares, and ...

Full story available on Benzinga.com

'Shock' Therapy For Economic Growth£
Fri, 13 Jan 2017 15:11:21 +0000

President-elect Donald Trump's calls for spending up to $1 trillion to improve America's infrastructure has been met with some skepticism.

However, BlackRock, Inc.'s (NYSE: BLK) Chairman and CEO Larry Fink is a firm believe that infrastructure spend is vital towards growing the U.S. economy. Speaking as a guest on CNBC, Fink said that one of the reasons the U.S. economy has been growing at a sub-optimal ...

Full story available on Benzinga.com

Financial Earnings, Data In Focus On Wall Street
Fri, 13 Jan 2017 13:59:01 +0000
The major U.S. index futures are pointing to a modestly higher open on Friday, with stocks poised to extend the recovery from the pullback seen early in the previous session. The upward momentum for the markets comes as traders digest quarterly results from several financial giants as well as some closely watched economic data.
Clear Sailing Ahead: Fed's Yellen Says No Short-Term Obstacles For U.S. Economy
Fri, 13 Jan 2017 13:11:38 +0000

U.S. Federal Reserve Chair Janet Yellen said on Thursday there are no serious short-term obstacles that could derail the economic momentum.

According to a Bloomberg report, Yellen emphasized the fact that the U.S. unemployment rate has reached a low level while the labor market is strong and wage growth is picking up. Moreover, inflation has inched up from a very low level and stands just below the central bank's ...

Full story available on Benzinga.com

Clear Sailing Ahead: Fed's Yellen Says No Short-Term Obstacles For U.S. Economy
Fri, 13 Jan 2017 13:11:38 +0000

U.S. Federal Reserve Chair Janet Yellen said on Thursday there are no serious short-term obstacles that could derail the economic momentum.

According to a Bloomberg report, Yellen emphasized the fact that the U.S. unemployment rate has reached a low level while the labor market is strong and wage growth is picking up. Moreover, inflation has inched up from a very low level and stands just below the central bank's ...

Full story available on Benzinga.com

Economic Data Scheduled For Friday
Fri, 13 Jan 2017 10:00:36 +0000
  • The Producer Price Index for December is schedule for release at 8:30 a.m. ET.
  • Data on retail sales for December will be released at 8:30 a.m. ET.
  • Philadelphia Federal Reserve Bank President ...

Full story available on Benzinga.com

Why Companies Are Willing To Let Trump Take Credit For Previously-Planned Job Creation
Thu, 12 Jan 2017 21:16:06 +0000

Amazon.com, Inc. (NASDAQ: AMZN) announced Thursday it plans to create 100,000 new jobs in the next 18 months. Despite no indication from Amazon that the decision had anything to do with his proposed policies, President-elect Donald Trump has taken credit for the announcement.

“The president-elect was pleased to play a role in that decision,” incoming press secretary Sean Spicer said of the announcement.

Amazon previously created 150,000 jobs from 2011 to 2016.

Without a comment from Amazon management, it’s impossible to say whether Trump actually played a role in Amazon’s latest expansion plans, but Trump seems to have no reservations taking credit for job creation plans.

Hardly The First Time Trump Takes Credit For Pre-Existing Plans

Trump thanked Fiat Chrysler Automobiles NV (NYSE: FCAU) on Twitter earlier this week after the company announced plans to create 2,000 new U.S. jobs. FCA spokesperson Jodi Tinson later confirmed “this plan was in the works back in 2015.”

Some members of the media have also connected Toyota Motor Corp (ADR) (NYSE: ...

Full story available on Benzinga.com

Earnings Preview: Big Bank Results Ahead With Reports From Bank Of America, JP Morgan, and Wells Fargo
Thu, 12 Jan 2017 19:16:16 +0000

Big banks kick off earnings season Friday, and many analysts expect robust results after a post-election stock-trading frenzy that may have provided stronger revenue.

Lined up for tomorrow are Bank of America Corp(NYSE: BAC), JPMorgan Chase & Co. (NYSE: JPM), and Wells Fargo & Co (NYSE: WFC), and there’s plenty of enthusiasm going into the results. The financial sector overall appears to have been a big benefactor of what traders are calling the “Trump rally,” a market surge that began almost immediately after the November presidential elections. BAC shares have swelled some 35% since Nov. 8 to reach an eight-year high, while JPM shares are higher by nearly 29% after reaching record peaks. WFC is up by 20% after tapping an 18-month high.

Analysts expect these banks (as well as Morgan Stanley (NYSE: MS), Goldman Sachs Group Inc (NYSE: GS), and Citigroup Inc (NYSE: C), which are expected to report next week) to turn in robust results thanks to stronger trading revenues and higher yields on Treasury notes. They could also be bolstered by a handful of products like credit cards, and student and consumer loans. Trading revenue, particularly in fixed income, currency and commodities, had been a sore spot for banks up until about Q2. That started to stabilize last year and apparently was buttressed further with the post-election trading extravaganza.

But a note here about the seasonality of banking revenues: Though analysts expect Q4 to be relatively strong because of the unexpected end-of-year trading rush, the last quarter traditionally tends to be among the weakest for financials, analysts say. That’s typically because many traders and institutional investors tend to wrap up their portfolios and books ahead of the holidays, when they take time off.

Beyond results, many market participants are expected to pay close attention to what ...

Full story available on Benzinga.com

Affordable Housing Crisis Continues To Weigh On American Middle Class
Thu, 12 Jan 2017 16:49:16 +0000

The middle class is increasingly being squeezed out of the major metropolitan areas in the United States. President-elect Donald Trump's administration and recent appointment of Ben Carson to the Department of Housing and Urban Development have done little to convince Americans the trend will change anytime soon.

Despite U.S. household incomes hitting their highest rate since the Census Bureau began releasing this information six decades ago, incomes aren’t rising as fast as rents are in the big cities. As costs continue to outpace incomes, a bigger group of lower income renters have emerged, and they are chasing a shrinking rental pool of housing. Americans continue to see the after-effects of the Great Recession nearly a decade removed in the form of an affordable housing crisis.

Housing Affordability ...

Full story available on Benzinga.com

Profit Taking May Lead To Early Weakness On Wall Street
Thu, 12 Jan 2017 13:58:39 +0000
The major U.S. index futures are pointing to a modestly lower opening on Thursday, as traders may look to do some profit taking after the tech-heavy Nasdaq closed higher for seven straight sessions, reaching a new record closing high. Traders are also digesting reports on weekly jobless claims and import and export prices.
Stocks May Continue To Show A Lack Of Direction
Wed, 11 Jan 2017 13:57:18 +0000
The major U.S. index futures are pointing to a roughly flat opening on Wednesday, as stocks may continue to show a lack of direction after closing mixed for two consecutive sessions. Another quiet day on the U.S. economic front may keep some traders on the sidelines ahead of the release of closely watched reports on producer prices and retail sales on Friday.
Caution Creeping In Ahead Of Key Earnings Reports Later This Week
Tue, 10 Jan 2017 14:50:21 +0000

A cautious tone crept into the markets early Tuesday as participants sought a catalyst ahead of earnings data from the big banks due later this week. Monday’s slight sell-off didn’t take indices down much from recent all-time highs, and a mixed open appeared likely.

Caution is the word of the day, with much of the focus on big bank earnings due Friday and on a few smaller data points due later Tuesday (see below). Many are also watching the crude oil market to see if it can break out of its recent range between $50 and $55 a barrel.

Financial earnings come into the spotlight Friday, but it’s also worth taking a broader view of the total Q4 earnings picture as the season starts. Early analyst estimates point toward earnings growth in the 4.4% area, up from 4% in Q3 and the second-consecutive quarter of earnings gains after a long slump. The question is whether a strong dollar might pose a headwind for some of the multinationals.

Speaking of the dollar, it was down slightly early Tuesday from recent highs, but the British pound has been struggling this week as concerns mount about how Britain could execute its exit from the European Union.

Fed speakers have started to pop up now that the new year is well underway, and Boston Fed President Eric Rosengren on Monday said the Fed should raise rates more than once this year to help fend off inflation. Several more Fed speakers are scheduled on Wednesday.

Recent Januarys have been marked by Wall Street turbulence, but so far this ...

Full story available on Benzinga.com

Choppy Trading May Persist On Wall Street
Tue, 10 Jan 2017 14:02:26 +0000
The major U.S. index futures are pointing to a roughly flat opening on Tuesday, with stocks likely to continue to experience choppy trading after ending the previous session mixed. Traders may remain reluctant to make significant moves after the strength seen on Wall Street in the weeks following President-elect Donald Trump's surprise victory.
Stocks May Lack Direction As Dow Flirts With 20,000
Mon, 09 Jan 2017 13:46:06 +0000
The major U.S. index futures are pointing to a mixed opening on Monday, as traders may be reluctant to make any significant moves after the strength seen last week lifted the Dow within striking distance of 20,000.
A Macro Strategist's Forecast For 2017
Sun, 08 Jan 2017 18:59:39 +0000

Friday's edition of Benzinga's PreMarket Prep saw a visit from Peter Tchir, the head of macro strategy at Brean Capital, who gave his thoughts on the Bureau of Labor Statistics non-farm payroll report, the longevity of President-elect Donald Trump's online influence and the potential resurgence of active money management.

Fewer Jobs, But Bigger Checks

At the top of the discussion was the recently released non-farm payroll report, which Tchir felt was a little too sloppy to draw any clear conclusions from. "You look at the headline numbers, jobs are a little bit weaker, so you could make the story that maybe the economy is not as good as people hoped, and that the analysts got ahead of themselves. At the same time, you saw a big increase in wages, so there is some case to be made that maybe the economy has turned a corner."

-However, Tchir did seem confident that early predictions on a series of rate hikes throughout 2017 were unlikely to manifest. "I think they will try and get one more in, probably in February, wait a little bit after Trump takes office. They clearly want ...

Full story available on Benzinga.com

Silver Lining: December Jobs Growth On Weak Side, But 2016 Still A Decent Year
Fri, 06 Jan 2017 15:13:55 +0000

December’s jobs report looked a bit lukewarm on the surface, but had its share of silver linings. Market reaction was muted early Friday, marked mainly by a slight rise in bond yields.

Job growth for December totaled 156,000, the government said. That was below the range of expectations, which had been for 170,000 to 180,000, and below the average for 2016, which had been around 180,000. Unemployment clicked up a notch to 4.7%, in line with Wall Street analysts’ expectations.

Leading industries for job growth were health care and social assistance, the Bureau of Labor Statistics said. Employment in food services also rose. The positive in this report is that we saw job creation in transportation and warehousing, as well as in manufacturing. These are two areas worth watching as the year goes forward, especially because the incoming administration has promised to focus on these areas of the economy. We’ve lost 63,000 manufacturing jobs over the last year.

The rise in food services jobs could also be seen as positive, because it means people are taking the chance to open restaurants and bars. Food services jobs tend to be low-paying, but as long as food services doesn’t lead in job growth and jobs are being created elsewhere, it’s not necessarily a negative sign.

Looking for more good news£ Average hourly earnings rose 10 cents, or close to 0.4%. That was above expectations, and means average hourly earnings rose 2.9% in 2016, well above the rate of inflation and the highest year-over-year rise since mid-2009. Still, for the year, wage growth was a bit slow, though the arrow was headed in the right direction.

What does all this mean£ Well, job growth in total for 2016 came ...

Full story available on Benzinga.com

Futures Pointing To Flat Open Following Jobs Report
Fri, 06 Jan 2017 13:59:15 +0000
The major U.S. index futures are pointing to a roughly flat opening on Friday following the release of the monthly jobs report. The Labor Department report showed weaker than expected job growth in December as well as an uptick by the unemployment rate.
Jobs Jolt Ahead£ After Fast Start To Year, Markets Await Payroll Data
Thu, 05 Jan 2017 15:05:31 +0000

The new year is off to a fast start.

After a strong showing Wednesday that saw nine of 11 sectors rise and left the markets knocking at the door of record highs, the market approaches the new day watching oil and a couple of data reports. But it’s possible that much of today will be spent setting up for tomorrow’s employment report. Stocks fell in pre-market trading.

Data today include the ADP’s reading on private job creation, released prior to the open. It showed 153,000 jobs created in December, well below the expected 170,000 and the 216,000 reported in November. The ISM Non-Manufacturing Index also comes out Thursday.

Oil moved a bit higher early in the day, and we’ve seen some volatile trade there in the last two days. U.S. weekly crude inventory data are due a bit later on.

From a technical perspective, S&P 500 resistance remains at 2272, a level that’s been somewhat elusive. The index hasn’t been able to close above it, though it’s moved above it intraday at times, including on Wednesday.

Strong auto sales numbers helped drive Wednesday’s gains (see below). Fed minutes that were relatively benign also played a role, but Fed officials did express concern about potential harm to the economy from a rising dollar. One thing to watch for this earnings season is the possible effect of the strong dollar. In a strong dollar environment, multinational companies can sometimes struggle. The dollar ...

Full story available on Benzinga.com

Profit Taking May Contribute To Initial Weakness On Wall Street
Thu, 05 Jan 2017 13:50:58 +0000
The major U.S. index futures are pointing to a modestly lower opening on Thursday after stocks started the new year on an upbeat note. Profit taking may contribute to some early weakness on Wall Street after the gains seen over the two previous sessions lifted the Dow back within striking distance of 20,000.
Markets Start The Year In Rally Mode, With Fed Minutes And Auto Sales On Tap
Wed, 04 Jan 2017 15:03:16 +0000

Yesterday’s impressive rally and a positive tone in pre-market trading Wednesday seem to put stocks on firm footing to start the year. That said, it’s a short week, and there’s a lot of news coming up. Employment data on Friday and earnings season starting next week could give the markets a bit more direction.

Fed minutes are on the schedule this afternoon (see below), but with the futures market showing less than a 50% chance of a rate hike even at the May meeting, it seems unlikely that the release of last month’s minutes could have much impact on the markets. Still, market participants are likely going to scour every word.

Also on tap today: December auto and truck sales (see below). 

Volatility remains muted early in the new year, with VIX falling slightly early Wednesday and recently trading at 12.73. By comparison, the VIX never fell below 19 last January and stayed above 18 until March. The current low reading suggests that market participants don’t see much chance of the kind of roller coaster ride the markets gave us early last year.

Leading sectors on Tuesday included financials, telecommunications, energy, and health care. By the end of the day, the S&P 500 Index (SPX) had tallied its biggest daily gains in nearly a month. The impressive rally might reflect the U.S. data as well as overseas data, with ...

Full story available on Benzinga.com

Dow May Once Again Challenge Key 20,000 Level
Wed, 04 Jan 2017 13:47:24 +0000
The major U.S. index futures are pointing to a higher opening on Wednesday following the strength seen on the first trading day of the new year. The markets may continue to benefit from optimism about the outlook for the economy in 2017 following the recent release of upbeat data from around the globe.
Like 2016, This May Be the Year Of The 'Unexpected'
Tue, 03 Jan 2017 15:19:26 +0000

Let the new year begin! After the low-volume trading that marked the last week of what became a volatile year, traders appear to be ready to rock and roll into 2017.

And why not£ As we’ve noted many times in 2016, last year turned out to be the year of the unexpected. We didn’t exactly start it with ringing bells as the three major benchmarks all slid on a slippery slope before bottoming in double digits by mid February.

And just when we thought the markets were getting their groove back, that post-Brexit vote in June delivered another blow. We survived that and loafed through the dog days of summer and the presidential campaign before all three market metrics broke through records on what appeared to be a daily basis through the end of the year.

The question, however, now lies in what direction might the market move this year£ After investors shook off Brexit, and a challenging and harsh presidential campaign and election to power equities and major benchmarks to untouched levels—ever—in the second half of last year, there seems to be a what-will-you-do-for-us-now sense surfacing.

After such a run, are the markets ready for more£ Or has too much anticipation been built into the stocks prices, possibly portending a correction in the cards£ Moreover, what did we learn ...

Full story available on Benzinga.com

Futures Pointing To Sharply Higher Open To Kick Off New Year
Tue, 03 Jan 2017 13:57:24 +0000
The major U.S. index futures are pointing to a sharply higher opening on Tuesday, the first trading day of the New Year. The markets may benefit from optimism about the economic outlook for the New Year due in part to the economic policies proposed by President-elect Donald Trump.
A High Divided ETF Confronts The Fed
Tue, 03 Jan 2017 13:31:41 +0000

The Global X Funds (NYSE: DIV) invests in high dividend stocks. As seasoned dividend investors know, high dividend stocks can be vulnerable to rising interest rates.

Still, DIV mustered a 2016 gain of 10.6 percent, though that lagged the 12 percent returned by the S&P 500. Kudos to DIV for being slightly less volatile than the benchmark U.S. equity index.

DIV, which debuted in the first quarter of 2013, tracks the Indxx SuperDividend U.S. Low Volatility Index. In addition to featuring high-yielding stocks, DIV's index searches for those names that have displayed low betas against the S&P 500.

Interest Rate Hikes And DIV

The Federal Reserve raised interest rates for the only time in 2016 in December and is aiming for three rate hikes this year, but that does not mean DIV should fall out of favor.

“Despite ...

Full story available on Benzinga.com

Stocks Looking To End 2016 On A Positive Note
Fri, 30 Dec 2016 13:53:33 +0000
The major U.S. index futures are pointing to a higher open on Friday following the pullback seen over the two previous sessions. Traders may look to pick up stocks at somewhat reduced levels, as the S&P 500 ended yesterday's trading at its lowest levels in almost a month.
Stocks May Experience Choppy Trading As 2016 Winds Down
Thu, 29 Dec 2016 13:56:11 +0000
The major U.S. index futures are pointing to a roughly flat opening on Thursday following the pullback seen in the previous session. Traders may remain reluctant to make significant moves in the final days of 2016, with some likely to be away from their desks ahead of another long weekend.
Upward Momentum May Lead To Continued Strength On Wall Street
Wed, 28 Dec 2016 13:48:40 +0000
The major U.S. index futures are pointing to a higher opening on Wednesday, with stocks poised to add to the modest gains posted in the previous session. Stocks may continue to benefit from the upward momentum seen on Wall Street since President-elect Donald Trump's surprise victory last month.
Futures Pointing To Roughly Flat Open On Wall Street
Tue, 27 Dec 2016 13:44:49 +0000
The major U.S. index futures are pointing to a roughly flat opening on Tuesday following the long holiday weekend. The markets may continue to experience choppy trading following the relatively lackluster performance seen in the days leading up to Christmas.
Futures Pointing To Continued Pullback On Wall Street
Fri, 23 Dec 2016 13:55:29 +0000
The major U.S. index futures are pointing to a modestly lower open on Friday, with stocks poised to extend the modest pullback seen over the two previous sessions. Profit taking may lead to continued weakness after the Dow and the Nasdaq reached new record closing highs on Tuesday.
Upcoming Holiday Weekend May Lead To Choppy Trading
Thu, 22 Dec 2016 14:02:08 +0000
The major U.S. index futures are pointing to a roughly flat opening on Thursday, with trading activity on the day likely to be somewhat subdued ahead of the holiday weekend. The futures remained little changed following the release of a slew of U.S. economic data.
Venezuela confirms recession, highest inflation in Americas
Tue, 30 Dec 2014 22:56:45 +0000
CARACAS (Reuters) - Venezuela confirmed on Tuesday it had entered a recession while inflation remained the highest in the Americas, and President Nicolas Maduro's socialist government blamed...
U.S. opens door to oil exports after year of pressure
Tue, 30 Dec 2014 22:30:18 +0000
WASHINGTON (Reuters) - The Obama administration on Tuesday bowed to months of growing pressure over a 40-year-old ban on exports of most domestic crude, taking two steps expected to unleash a wave of...
Shares slip in low-volume trading; safe-havens rise
Tue, 30 Dec 2014 21:44:44 +0000
NEW YORK (Reuters) - Investors backed away from global equity markets on Tuesday, with light volume magnifying moves, as worries about Greece's future in the euro zone pushed shares lower and lifted...
Wall St. pulls back from record; utilities slump
Tue, 30 Dec 2014 21:24:08 +0000
NEW YORK (Reuters) - U.S. stocks fell on Tuesday as investors engaged in profit-taking to pull major indexes from record levels, while the trend of modest moves and low volume continued heading into...
Brent and WTI see small gains as end of year approaches
Tue, 30 Dec 2014 21:24:01 +0000
NEW YORK (Reuters) - Crude futures closed up slightly Tuesday, getting some relief from a weak dollar but not making significant strides as traders prepared for the end of the year.
Dollar slips against yen on year-end profit-taking
Tue, 30 Dec 2014 21:00:19 +0000
NEW YORK (Reuters) - The U.S. dollar hit a 1-1/2-week low against the safe-haven yen on Tuesday after traders booked profits from recent multi-year highs in the greenback and parked their winnings in...
Argentina's debt crisis seen rumbling on until 2015 election
Tue, 30 Dec 2014 18:41:39 +0000
BUENOS AIRES (Reuters) - Crunch time for Argentina fixing its debt default will almost certainly not be January, as many investors had hoped, but a year later once the country's next president takes...
U.S. consumer confidence rises in December
Tue, 30 Dec 2014 15:24:26 +0000
(Reuters) - U.S. consumer confidence increased in December, bolstered by a brightening jobs situation that left perceptions about economic conditions at a high last seen in February 2008, according...
U.S. home price growth slows further in October: S&P/Case-Shiller
Tue, 30 Dec 2014 14:55:08 +0000
NEW YORK (Reuters) - U.S. single-family home price appreciation slowed less than forecast in October, as there were hints of some re-acceleration in home prices in some cities by year-end, according...
Russian ruble resumes recovery as exporters seen selling dollars
Tue, 30 Dec 2014 13:02:00 +0000
MOSCOW (Reuters) - The Russian rouble staged an uncertain recovery on Tuesday as traders saw modest foreign-currency sales on the final day of trading before the New Year holidays.
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