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CNBC
Jan 8, 2016 1:00pm EST
end up in the red today, that's a big negative. >> i want to see china coming out with something meaningful. >> also go bucks. we should get that in there. >> milwaukee bucks. see you soon. "power lunch" starts now. >>> scott, thank you very much. welcome, everybody, to "power lunch." along with mandy drury, i'm tyler mathisen. a wild week for investors. the focus shifting to china and jobs right here in america. >> strong employment growth, but at the same time weak economic growth. what is behind this and what does it all mean for the american economy overall? steve liesman, we know you've been taking a very close look at this conundrum. >> forget china, mandy. the united states is confusing enough. two data points highlighting that confusing economic outlook for investors, jobs surging and soaring. growth weak and weakening. let's talk about growth first. cnbc rapid update shows a bigger than expected decline in inventory, prompts another mark down in estimates for the fourth quarter. q4 down 0.2%. the range 0.1% to 2.3%. morgan stanley was 0.1% growth. it's the fourth markdow
CNBC
Aug 1, 2016 1:00pm EDT
china. she brought her parents here. she's among our top personal bankers like in a retail branch. and if you saw her, you'd be amazed at what this country still offers to people in terms of opportunity. and that all three of them pretty much started at a teller and now middle market manager, one of our best branch managers in the country. it's unbelievable stuff. >> and so the consumer part of the business growing fast in california. it's growing very fast across the board. we saw that in the recent q-2 earnings for j.p. morgan. and it's highlighted as well from some of the other banks. if we look at the gdp number last week, there was a clear lack of investment from businesses. what does that tell you about the fundamental strength of the u.s. economy right now? is it late cycle? >> i think -- i don't believe that. what we see is a strong consumer, asset prices are up, 13 million more people working, wages are going up, household spending is up. a lot of businesses capital expenditures is when they see books grow and need to build a new plan. it is a little disappointing, but th
CNBC
Jan 21, 2016 1:00pm EST
stock market. a slight rebound in oil. a massive cash injection from china, and the possibility of more money from europe helping to push the dow up more than 200 points. >> today we are focusing on stock picking. what stocks and sectors are ripe and ready after this terrible start to 2016? >>> and if you are still gun shy on stocks, and who could blame you? we have one of the biggest names in bonds this hour. see why loomis sales says now is the time to buy bonds. it will be an interesting conversation. >> despite today's rally, the debate still rages on, is this a bear market? is this a correction? what exactly is going on? bob pisani on the nyse floor with some -- i don't know who is saying it's a bear market, bob, but whatever. >> we're not there yet. the question is, is this the bottom that we've reached at least short term? it has some of the hallmarks of a bottom yesterday. right about this time we were talking about it. here is the hallmarks of the bottom. you get big volume, and we had twice normal volume yesterday. secondly, you get new lows, new 52-week lows. we certainl
CNBC
Jun 28, 2016 1:00pm EDT
global scares in terms of central banks collapsing, china collapsing, oil prices collapsing. we've rallied since there for other reasons. >> look, there is a declining global economy. and indeed in britain our growth forecasts are down. not because of brexit, because actually the economy is not doing as well as we thought, because government borrowing is running way ahead of any expectations. and sterling ends in a declining market, a bear market in july 2014. i actually know about these things. do you know why? because i once had a proper job. >> let's move on a little bit and talk about the fact that the polls were so wrong, which of course they were. there were many more people who were willing to vote for brexit than perhaps the pollsters had realized. do you think there are parallels there with what's happening in the u.s.? do you think there could be more secret trump fans out there? >> i do actually. very interesting, on the morning of the vote one of the most senior figures in the british polling industry said, believe me, if we've got this wrong, the polling industry is fi
CNBC
Mar 3, 2016 1:00pm EST
. >> mark keisel of pimco, thank you for your insight. >>> moodys cutting its outlook on china, get morgue negative. what is the credit agency seeing ahead and the person who leads moodys sovereign risk team will tell us in another look live at portland, maine, where presidential candidate donald trump is expected to take to the lectern any moment now. we'll take his comments live as he presumably responds to a stern tongue lashing from mitt romney. >>> black and beedenim co-found he started a second business, a coffee bar, in the same tampa, florida storefront. customers can now sip their joe and shop for clothes at the same time. for more, watch your business sunday mornings at 7:30 on msnbc. our cosmetics line was a hit. the orders were rushing in. i could feel our deadlines racing towards us. we didn't need a loan. we needed short-term funding fast. building 18 homes in 4 ½ months? that was a leap. but i knew i could rely on american express to help me buy those building materials. amex helped me buy the inventory i needed. our amex helped us fill the orders. just like that. another s
CNBC
Jan 14, 2016 1:00pm EST
slowdown, contagion spinning from china to the rest of the world. i'm mandy drury along with tyler mathisen. >> it's good to be with you. despite the threat and the fear, stocks up a little bit today. it has, however, don't need to tell you this, been a terrible start to 2016. we begin, speaking of terrible starts with dominic chu explaining exactly what contagion means -- >> i don't want to be the bearer of bad news. >> -- where it's coming from, and what it could bring. >> there's all this talk of contagion. we wanted to put it in context to stage and frame the discussion because we are not necessarily there, but we want to show you what happens when it does actually occur. so let's -- first of all, let's put it this way, a lot of different people have a lot of different definitions for what contagion is going to be here, but there are three general themes. one of them is that they start very local, specific to one economy, geography, or an asset class. that weakness goes to bullet point number two here. it spreads to other locations whether it be geographically or assets, and nu
CNBC
May 16, 2016 1:00pm EDT
seeing worse and worse data out of all of the asian economies, not just china. so i question the demand growth numbers. >> india is doing well. theish sue inventory overhang. you have to work off the inventories. >> opec in three weeks. are we going to get a deal in vienna, austria? >> we didn't get a deal in doha, i see no deal -- >> everybody says that they didn't amount to anything. you called it. i called it irrelevant on the air. any big surprises you expect from the opec meeting? >> i don't see the saudis changing their mind right now. if you look at this pain that everyone is in, i think they're ready to blow up opec. >> thank you, ladies and gentlemen. okay. that's a big one. all right. some big oil etfs are on the move today. let's get to dominick chu with an example of some ways can you trade that market. >> so the stocks and rally mode today in the energy related etfs are helping to lead the market higher. funds being used to express energy views in these stocks include spdr. $14 billion in assets. it's the biggest energy related stock out. there another big one that p
CNBC
Oct 11, 2016 1:00pm EDT
gotten recently. we had the honeywell warning, we had alcoa coming out saying that growth in china hasn't really materialized yet. we have got a dollar that is actually strengthened significantly in the past month, 2.4%. you enter earnings -- >> there is no doubt it is baked in. be a little careful because you don't know exactly why people are positioned once the news event happened. you can have an outsider reaction. i think that's the fed's goal, to go with maximum flexibility and hike without a big market reaction. i think it is worth talking about, a piece that is out there from goldman sachs, this connection between the election and the rate hike. and the idea being that the more it seems like hillary clinton will get elected, the more certain the market gets about a rate hike and that's because there is some fear out there that a trump victory has some sort of economic shock value to it that could upset markets and could cause the fed less likely to increase rates, but the more increased probability of a clinton victory gives the fed more confidence and the market more confidence th
CNBC
Jan 22, 2016 1:00pm EST
, china growth fears, plunging oil, fears about high yield bonds. are sovereign wealth funds to blame? are they the next shoe to drop in bob pisani joins us from the floor of the nyse and mike santoli and jack ber rurouroudj. >> stocks have been dropping all over the world for several weeks and uniformly dropping. telecom stocks are down. stocks in japan are getting hit. they're a huge beneficiary. what cause would explain this effect of stocks coming down around the world almost uniformly? somebody is out selling fairly large portfolios. one possible culprit would be sovereign wealth funds. i'm talking about particularly oil sovereign wealth funds. your saudi arabia, your kuwait, your qatar, those kind of funds. collectively they control about $4 trillion in assets. i'm talking about liquid assets, not illiquid assets. they are known to be under pressure to keep their budgets going, and at this point it's logical to start asking questions about whether they've been big sellers in the last few weeks. unfortunately, they don't put out press releases on this. >> mike santoli w do you ma
CNBC
Feb 16, 2016 1:00pm EST
a high level discussion. the other thing is china. the pboc defending the yawn saying unlikely we are going to do serious devaluations. that's the other thing worrying the world. the third thing is bank in europe and bcd draghi saying they are going to do whatever it takes. deutsche bank may do some buying back. that's the third one. finally, the fed. nobody said anything at the fed but basically we're implying right now no hikes for the rest of the year. so big movements overall. >> how are traders taking the bounce this the bank stocks? is it vince convincing in their view? >> no. citigroup is up 12% since the bottom on thursday. we need a three-day rally. we have not had a three-day rally in the dow and snap 500 since december 21st. there hasn't been one this year. right now we've two and a half if you count the fact we have moved off of the thursday bottom. every time we've had a three day rally there has been selling into it the next day. let's see in the next 48 hours if we can get a move up you will see believers. >> we've seen notes from different houses thinking there has
CNBC
Apr 27, 2016 1:00pm EDT
india and china are big uptick in that. we'll see that in the june quarter. and looking beyond, they're going to expand on services. at least the biggest growth right now. it's the biggest growth sector. they're going to find new ways for developors to make money. then they make money because they take a cut from development income. apple music is growing. that will grow higher. and that was the first subscription service which implies they'll do more. potentially a skinny bundle. >> sure. >> i want to bring knew this conversation because we have been talking about, you know, the fact that apple could actually move the needful they focused on services which are still, i mean, we're talking $6 billion in the quarter versus $50 billion in revenue for the quarter. there is a relatively small part of the overall pie when it comes to revenues. but what -- i mean could it be better off if they just focus on making the right acquisition at this point? >> well, i really -- when you look at the services business, what i've been thinking about is why can't apple package in things like itunes, i c
CNBC
Apr 12, 2016 1:00pm EDT
possibly a group of investors, some in china, perhaps one party here in the u.s., may have made a quote, unquote bid to buy integrated device technologies. that sent the shares higher by around 20% at one point. then questions, serious questions arose as to whether or not the bid may have been legitimate or whether or not there were questionable elements to this particular transaction happening. there you can see the shares have come back down. only up about 2.5% now on extremely high volume. that's the way things have set up. we also point out that one of the addresses listed in the s.e.c. filing may not be in a location that's indicative of an investing operation. that has some people calling it into question. again, this is an scc filing. we reached out to the company for a comment. they have said no comment right now. those shares currently up about 2.5%. i want to toss it to ayman javers in washington, d.c. who has worked with the sec with regard to this type of incident. ayman, the question becomes twloo this has happened in the past, can it happen in the future, and what is
CNBC
Apr 13, 2016 1:00pm EDT
getting the move. there is two primary ones. better china trade data, particularly on the exports. then bank earnings, jpmorgan, let's call it good enough. that's my phrase. people were expecting downbeat commentary. we didn't get that. that helped move the financials and the overall markets. high cash positions forcing a lot of people into the markets, short covering going on. look at the china trade data. the news on china has been relentlessly bearish for a year. everybody said, oh, my heavens, maybe the news isn't so bad. short covering rally and hang seng, up 3%. japan up, france up, everything up 3%. that's a nice move for all the global markets. it is spilling over into our markets as well as europe, china trade data, helping things like material stocks, all been strong, so you're steel stocks like midtall, bhp billiton, glen corp., all those stocks up here. banks in the u.s., jpmorgan strong and all of the other stocks in that group up about 4%. key point here, banks underperformed throughout the whole year, under 10%, underowned and unloved. this rally today is a nice rem
CNBC
Jul 11, 2016 1:00pm EDT
global market intelligence. >>> meanwhile, tensions between the u.s. and china escalating as the two sides are in territorial dispute over the south china sea. seema mody joins us now to explain the conflict and why it's so critically important economically. and there's a huge event coming up in the next day or so on this issue, right, seema? >> that's exactly right, michelle. it's a region that represents geopolitical and economic performance. take a look $5 trillion of trade takes place across the south china sea. it makes up half of global merchant shipping. and also one-third of the world's oil shipments. in fact, japan and south korea receive the vast majority of their persian gulf oil through the south china sea. but this long standing territorial dispute in this important region has resulted in an intensified conflict between china and its asian neighbors, the philippines in fact a u.s. ally, has taken china to a court accusing beijing of violating international law by taking claim over waters, and specific islands within the south china sea. the ruling is due tomorrow. and a
CNBC
Mar 14, 2016 1:00pm EDT
results of nafta, the results of the trade agreement with china is that this country has lost millions of decent paying jobs, communities around this country here in the midwest and ohio, michigan, illinois, have been devastated. >> with us now are two architects of nafta, the north american free trade agreement, the free trade legislation now under attack, you heard from bernie sanders, and also from right and left and center. joining us, clyde prestowitz and mickey canter, there at the end and credited for pushing nafta through under bill clinton. good to have you here. let me start with you. what would you say about bernie sanders and his criticism of nafta? >> a lot of heat and not much light. bernie doesn't have any facts to back up what he's talking about. nafta has shown a net increase in jobs every study, every study done by nonpartisan groups has shown nafta has been a net job gain for the united states. a big job gain for mexico, more important it tied our two economies together. nafta has been a success. >> but mr. canter, i think a lot of the critics would say maybe net number
CNBC
Nov 16, 2016 1:00pm EST
united states by, you know, disavowing nafta or putting a 45% tariff on china, et cetera, et cetera. i wonder because basically manufacturing in the united states has been destroyed over the last 10 or 20 years and will take a long time to put it back in place, if ever. so i think they sort of got -- maybe not hoodwinked, but they expressed their frustration for the other candidate, for the nonestablishment type of candidate. and i think that will continue in terms of populism, but ultimately there has to be, if populism is to be validated, in terms of producing more money for wages as opposed to profits, you know, there has to be a selection not just in the u.s., but globally, that favors, you know, policies towards main street as opposed it wall street. >> very quickly, bill, the centerpiece of trump right now, his plan is going to be a trillion proposed in infrastructure. much of that will have to be likely funded by bonds. bond market has to buy them. no buyers for those bonds, no trillion dollars for the infrastructure plan. would you be a buyer of any infrastructure bond that is
CNBC
Feb 17, 2016 1:00pm EST
off. excuse me, risk on. why? nobody really knows. was if mario draghi, the three-day weekend, china was coming back and we overpunched the market? you can see this process coming through in the charts. february start of the ten-year. we reversed right along with higher stocks. we have higher rates. not only there. let's look at the hyg. in the neighborhood of the lowest levels since the summer of 2009. look at february 1st start, moving in the other direction. year to date, we stopped gold, which was on a tear as well. if you look at march 2002 of what is going on with the crb index, it isn't moving up, but year to date, it looks like there may be a double bottom. all this is important to pay attention to and ponder because "power lunch" will return after the break. >>> i'm sharon epperson. here is your cnbc news update at this hour. at least 18 people were killed and 45 others wounded in the turkish capital of ankara. when a vehicle laden with explosives detonated as military buses passed close to turkey's military headquarters. the turkish government says it was a terrorist attack
CNBC
Nov 14, 2016 1:00pm EST
better. global growth, including china, has improved. so there was acceleration which started to create new trends in the market, but that's really been exacerbated by trump election. >> what is the -- have you changed your allocation at all given the new -- the incoming president and the fact that congress is dominated by the republican party now? or is it same old, same old. sounds like you think we're resuming the trajectory that the market has been, even though there has been some major leadership changes in the market when it comes to financials and the underperformance of technologies since the election. >> i think there has been a couple of big ones that are different. we had leadership and financials really. yields were going up before the election. that's just been exacerbated. tech has changed. emerging markets international. the biggest thing to me is the dollar right now. there is a universal opinion that the dollar is going higher. that's why international markets and emerging markets are getting slammed and materials and energy aren't doing as well as you might expe
CNBC
Nov 1, 2016 1:00pm EDT
month. apple, a drag overall, ubs survey indicating demand for the new iphone in china, seeing that stock just off session lows, down by 1.5%. >> thank you very much, melissa. i'm tyler mathisen. welcome. here is what else is happening at this hour. gannett says it is ending a six-month long bid to buy the newspaper publisher trunk. i love that. construction spending falling in september. they were expecting an increase. and the fed picking off a two-day policy meeting in washington. we'll have full coverage of the fed's decision on interest rates tomorrow right here on "power lunch." >> right now, it is the final countdown. one week to go until election day. john harwood is here at cnbc headquarters with the latest in the race for the white house. john? >> michelle, ticktock on the clock. we're getting now less than a week, 6 1/2 days until election day starts. and we got a race that is tightening in all respects. first of all, let's start with the national polling numbers. look at real clear politics, average down to 2.5%. it had been over 6. new york times average 4.1%. huffingto
CNBC
Feb 11, 2016 1:00pm EST
and everyone is looking at a policy officials for that, whether the fed or the ecb or china. i don't think it is going to be a policy catalyst. i think it is going to be economic. i think we're going to get better economic data out of the united states. >> it is going to take the recession fear out of the discussion. >> i think so. i think so. if we do that, we probably get a good rally. >> how do -- if we're nearing that turn, that inflexion point, what do you do? what do i do? >> well, i think this isn't just about a market bottom. and i don't know, we might have to go a little lower to find that. who knows. i think it is also about a complete leadership change. if we do find a bottom and start going back up. i think the old leadership is not going to be the new leadership. i think it is going to be more oriented toward the producer side of the economy, the industrial capital good side, rather than the consumer side if the market does find a bottom and rally. i would be looking on days like today to add to things like industrials or materials, energy, even the financials picking aw
CNBC
Dec 12, 2016 1:00pm EST
of remarks to reporters and said she was more concerned with china than russia. take a listen. >> we got down to more serious business. and spent a fair amount of time talking about china as probably our most important adversary in a rising adversary. we talked about hacking, whether it is chinese hacking or purported russian hacking. >> now, we're still waiting to hear the president-elect's choice for secretary of state, but by all indications, the front-runner is rex tiller so t he has zero diplomatic experience, but he does have top level global business experience and donald trump told chris wallace on fox news sunday yesterday that's plenty. >> in his case, he's much more than a business executive. he's a world class player. he's in charge of, i guess, the largest company in the world. it has been a company that has been unbelievably managed. and to me a great advantage is he knows many of the players and knowed them well. he does massive deals for russia and for the company, not for himself. >> donald trump mentioned massive deals with russia. the issue of russia is not
CNBC
Feb 4, 2016 1:00pm EST
volatile january, a lot of overnight news around the price of oil, or around what is happening in china. fears of global recession, so there is lots of volatility, and with that comes a lot of trading, they're very active right now, people are very engaged in their portfolios. >> walk us through how this impacts your business, fred. if people are being more cautious and pulling the horns in on one side because of the volatility, on the other side, they're increasing the amount of trading and then you also have low interest rates, really harming your business model, when the fed was believed to be rising -- to be raising interest rates, all the online brokers are going nuts. on fire. now we have the reverse situation happening. so walk us through how all the levers impact your business. >> well, no question, you know, i think us and our peers are very interested in the stock as are most financials. i think none more so than the online brokers. 45% of our revenue is tied to interest rates in one way, shape or form. we saw lift in the fed funds rate. i never saw it -- i don't think any of
CNBC
Jan 29, 2016 1:00pm EST
facebook post the other day, look around the world, right? china slowing down, can barely breathe. australia may get caught up in china. japan negative interest rates, europe, problems, migrant crisis, slowing economies, demographic cliff. you look all over the world, latin america, zika virus, commodity collapse, when you factor all that in, and you're more of a long-term guy, josh, you factor all that in, is this the time to wave the flag and put the old eagle? does america look like the best dirty shirt in a bag of laundry? >> who is your next president? is it the guy who is ready to push the red button on day one? or is it the guy who wants to raise taxes by $14 trillion, something that is so unheard of in the history of income tax, people can't even believe that they're reading an actual headline when they see it published or think there must be a misprint. is that the eagle we want to be petting here? i'm not sure. i think it he was weighs on sen probably not a good thing for multiples. >> can we say to people at home, don't pet eagles. >> by eagles we mean eagles. >> did ka
CNBC
Aug 22, 2016 1:00pm EDT
four or five years ago. he's had to deal with the fbi situation moving into china and india, shareholders, you know, demanding dividends and buybacks, which jobs didn't have to deal with at the time. so i give him a pretty high mark. but the incomplete is for the innovation we have yet to see. >> yeah, the innovation, steven, we have yet to see. that was my point about the watch statistic is that really it's only tim cook's new product line as a ceo. obviously he was there and he was involved in a lot of different things. but when you look at what they have created, not what they're living on but what they've created, it has been, i think, fair to say underwhelming in the innovation category. >> i think it's been und underwhelming on the hardware sigh, which is of course where they make their temoney. the technology is not there to get the watch away from the phone yet. where i think they've done a good job is on the services side, we call it the platform side where apple's created a horizontal platform with open operation programming and interfaces that incent third parties
CNBC
Mar 15, 2016 1:00pm EDT
you are stashtding to see in part because of a credit dislocation within the em side and china that potentially trade is going to be off. earnings are also going to be subpar. and just general multiples are overextended. >> so somebody could turn to you and say well that sounds for a case in not investing in em. but maybe the u.s. is the best house on a bad block. >> well, you know, you have to look at valuations. i'll give you an example. when we had our last drop down in the markets, we actually took a position within the ems on the ems side because the multiples were just too attractive. we are not expecting a global recession. but what we are expect something roughly 1.75 to 2.25 global growth rate. we are not expecting also a recession here in the united states. our base case scenario is roughly 2, 2.25 gdp growth. >> rich, you are unt weight as well. you haven't been buying blindly on the dips. that doesn't work anymore. why not? >> we are basically in the same camp with chad here. this bull market recovery is at a seven year anniversary. it's long in the tooth. by almost any
CNBC
Dec 2, 2016 1:00pm EST
. >>> that's street talk for friday. >> with first nonstop flight from china touching down on the las vegas strip today, actually mccarron, not on the strip, are casino stocks poised to take off? we'll investigate that straight ahead. r business be ready when growth presents itself? american express open cards can help you take on a new job, or fill a big order or expand your office and take on whatever comes next. find out how american express cards and services can help prepare you for growth at open.com. find out how american express cards and services they are the natural borns enemy of the way things are. yes, ideas are scary, and messy and fragile. but under the proper care, they become something beautiful. there's a lot of places you never want to see "$7.95." [ beep ] but you'll be glad to see it here. fidelity -- where smarter investors will always be. if only the signs were as obvious when you trade. fidelity's active trader pro can help you find smarter entry and exit points and can help protect your potential profits. fidelity -- where smarter investors will always be. i've spen
CNBC
Dec 8, 2016 1:00pm EST
. right now, mgm down by 4 or 5%. this on a report from the south china morning post saying that the monetary authority in mccow is looking perhaps this weekend to curb the amount of money that people can take out of atm machines within that particular region. so, that's having the adverse effect on the casino stocks right now, especially those that are perhaps more levered to that gaming industry, so that's the reason why those stocks are moving again. it is not official as of yet and according to the south china morning post, nobody at the monetary authority has commented on the record about it, still, that's what's moving the stocks and why those are moving the way they are. >> as far as independent newspapers can exist, the south china post is one of the more representable ones. >> what do you think? >> if you turned off my atm machines and mikasy know, i would have a bad day. when you start talking about cutting what you could take out of an atm machine and the billions of dollars even for that weekend for a gamble, you are going to hurt their business and that's probably where
CNBC
Dec 1, 2016 1:00pm EST
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CNBC
Aug 8, 2016 1:00pm EDT
-- corporate tax rate, highest in the world, so that pushes these corporations offshore to china, or down south to mexico. donald trump lowers the corporate tax rate, that's an incentive to bring them home. more subtly -- >> i get that. >> steve, i didn't interrupt you. >> you're correct. i just want to make sure that i get that. >> you're living in a world where you're not seeing the big picture. this was a major speech. this was the reagan revolution in the 21st century, four points of the compass speech on energy, regulatory policies, taxes and trade. let's do something subtle, cnbc style. that tax, export rebates. when the nafta and bill clinton and hillary lobbied, they created a vat tax, which allowed them to rebate their export their cars into this country. we can't do that because of the unequal treatment because we used corporate taxes. now, why do you guys think we actually have an auto trade deficit with mexico of $52 billion? in other words, we ship $52 billion less cars to mexico than they ship to us. those are jobs that could be here in michigan if we were sensible about tax
CNBC
May 9, 2016 1:00pm EDT
from the outside, he seems a bit like a bull in a china shop, especially the way he has seen to intervene during that meeting that our colleague brian attended. >> no, i think that's quite unfair. i think he came to office and he realized that there was a lot of issues that needed to be addressed. and he is taking them very cautiously. the program that's he's unfolding have been studied over many months now. and the trance fosformation is primarily in the improvement of the outlook, domestic outlook for the kingdom. he's very much focused on achieving a transformation and he's doing in a systemic manner. >> he will go to opec, but he is really there? does he have any real authority or do you believe he is only a proxy for the royal family? >> no. he is a very experienced executive. he's been in the business for many decades. he's highly respected by both prince mohammed as well as his colleagues. i think he'll bring a lot of judgment and perspective to the opec meeting. i think he's probably far more experienced than most of the ministers there. >> so can you give us any color i
CNBC
Feb 26, 2016 1:00pm EST
room, he talked about that record number of android switchers, talked about the growth in china. said, listen, there may be hiccups from quarter to quarter, long time bullish in china. chinese consumers love our products, 61 billion in revenue in greater china last four quarters. name another company he said that can boast that and future markets like india, they get 1.5 billion of revenue last year but he sees india today as what china was ten years ago meaning a young population and a population that is rapidly moving into the mid le class. he reaffirmed what he said about india, they're putting a lot of resources into that area. >> very quickly it would be interesting to know, i do not, what al gore who spent many, many years in government thinks of the tussle between the fbi and apple. has he been heard from on it? >> i don't believe so, tyler. al gore was in attendance. i don't believe he's made a comment on that. >> i haven't seen anything. >> i'm sure -- no, i have not seen that. listen, it is a difficult position. we have issues of privacy and security on one hand, natio
CNBC
Jan 28, 2016 1:00pm EST
, oil, china, the people had a hard time wrapping their minds around. and so we think, for instance, that with cheap oil, and the end of china's investment boom, it hurts some sectors in the economy, that's clear. but there are also winners for that. and you only see that when the earnings numbers come out. >> julian, just because oil bottoms and there isn't going to be a recession doesn't mean it will be a straight shot up. that's essentially what you're predicting with your s&p forecast. your forecast is $22.75. that's about 20% upsid from where we are now. >> it is. >> that's a big gain. >> it isn't a straight shot up. if you take the premise that volatility increased and going back to august, within that context of well above 20 as opposed to 1415 which we experienced for the majority of last four years that isn't a straight shot and our view is when you look at how sentiment swings in higher volatility markets, the almost apocalyptic sentiment that the public has expressed on stocks, you know, equivalent to at the lows in march of 2009, and institutional investors moved in that
CNBC
Mar 29, 2016 1:00pm EDT
world. the world is practically melting down in several the big components of the economy, china, europe, the emerging markets and the only question is why did they feel they needed to act in december? >> right. >> and once you -- if whatever answer you come to from that, maybe they talked themselves into, it i think you've seen an effort by a lot of the fomc members and from janet today to in some sense try to tell us, well, conditions are different and just set the stage for why there's no inflation. the economy is weak. they are not going to raise rates six times in a year or whatever it was that they were predicting at the time. >> austan, according to mckenzie, since last year or since the financial crisis their data from last year, global debt has grown by more than $60 trillion. as i tweeted out, is this the problem that the fed is afraid of but in some ways also the problem that the fed created? are they afraid of their own monster? >> i don't know. that's for the whole world. >> yeah. >> since the credit crisis -- since the crisis 60 trillion, since the crisis. >> that's
CNBC
Oct 4, 2016 1:00pm EDT
past, have been breached. when we think about the threat vectors out there, whether china, russia, whether it is e-crime, all of these companies are us a sesusceptible to the s attack. it is a matter of working with customers and cleaning up security and going forward. one of the key challenges we see all the time with large companies is really being able to deal with these threats and being able to identify them so they're not sitting there for 200-plus days. >> would you characterize us as "at war" with hackers and state sponsored hackers? and do we have to get to that point as the signal that we really take it seriously? >> i wouldn't use the term "cyber war," but i certainly do think there is an escalation between what we're doing, nation states, cyber criminals, and the activity that's out there. we need to think about this as really a serious, serious event that impacts the livelihood of this nation. when you are stealing intellectual property, you are reselling information, impacting lives and companies. i think that's something that's very important to the government. >> c
CNBC
May 24, 2016 1:00pm EDT
be in the weeds but some say you've got to focus on china because there's a price war going on there. the iranians are desperate to get into the chinese market and the are willing to undercut. what are we hearing about global priced and the race for market share? >> that's the key for the outlook in 2007 and beyond. i think we'll agree we get a drop in envy try and that's the consense yigt now so the question is what barrel of oil is going to replace the energy on some. margin. a big-risk player such as iran and hawk, and we believe the low-players are continuing from and the i like the idea of the revenge of the low-cost player in 2017. may be the name of a documentary. metals, you see 4,200 bucks a metric ton. you see a 9% drop in silver. why seoul negative, gold, slightly remember than it was now? why so gold? >> let's go with gold aside and think about the low cost players, like the peruvians, we have a dig plug coming on line and it's the same kind of idea in oil but the demand picture is much weaker which is why there's more downside risk for metals. up of our main views
CNBC
Sep 15, 2016 1:00pm EDT
like china or any place else. what's, i mean, toxford unit jut came out with a disastrous estimate, of what truch's economics would mean for the economy. over trillion dollar losses. >> steve, do numbers add sunup. >> no. they add up ke pending upon your flosty about the impact of regulatory reform. let me show you the map and robert can comment. the map first. he has a $4.4 trillion tax cut. 4.4 trillion in savings. he's saying no addition to the deficit. he says his tax cuts create $1.8 trillion of growth. he says his trade, energy and regulatory reform will add $1.8 trillion to growth. or to the budget. and then he's going to have $800 billion in spending cuts. all that adds to zero. i don't see any room in the plan for its $500 billion infrastructure plan and i don't see any room in the budget for any increase in defense spending. the story from a republican economist i talked to earlier today is that hillary clinton doesn't solve the problem, but donald trump when it comes to the problem of deficit, is thought to make it much worse. >> soo, she's neutral, he's negative. >> she
CNBC
Jun 23, 2016 1:00pm EDT
, more than china and india combined. so all of these countries are weighing out the political issues and the economic issues of a possible brexit. and there's a lot of anxiety. people are hoping that tomorrow morning they're going to wake up and still have one eu. >> i'm going to ask you a question that maybe you don't know the answer to. apologize in advance. but we hear about the euro crash. >> right. >> how many of them are there? how many of them are employed there in brussels? >> well in, the commission alone, there are 40,000 which is part of the problem. this whole system is seen as way too bloated, way too bureaucratic. every country has the own commissioner and own staff and drivers and considered living pretty large when like you mentioned early, 7.9% unemployment rate in europe. so it's really hard for people to swallow this pill. and, frankly, it's not just a matter of love for the uk the reason they want them to stay but also because they're really big contributor into this project. and if they leave, germany has to pay $2.5 billion more per year into the eu budget. so i
CNBC
Jun 21, 2016 1:00pm EDT
mindful of core investments and the likes of china where you've got credit bubbles leading to good investments. not seeing that happen. >> rick, very wide ranging conversation. appreciate your insight. thank you. >>> your employer is spying on the e-mails that you send at work, especially at the big banks. coming up, we'll get a look at how they do it and if people actually sit and read your work e-mails. scary story coming up. stick around. consider >>> last week cnbc's eamon jafrers first reported that goldman sachs had a unique way of sifting through work e-mails and eamon is back today with more on how employers do it and what exactly they are looking for. eamon. >> hi, mark fay and i did a little bit more reporting here and looking into this whole cottage industry of companies that manufacture software that looks into your e-mails if you work at a large corporation, particularly in the financial secretary o and in regulated industries and what we found was a whole range of offerings by these firms designed to flag specific phrases and then the phrases are actually reviewed by
CNBC
Sep 16, 2016 1:00pm EDT
, nothing else can happen with havoc, it must be wreaked, on the streets of southeast china. that's havoc. we call that havoc, right? things being wreaked, that's china. >> that looks like a movie to me. >> giant ball barreling toward a motorist. what happens next. this is havoc being wreaked, folks. there's a lot of places you never want to see "$7.95." [ beep ] but you'll be glad to see it here. fidelity -- where smarter investors will always be. if only the signs were obvious when you trade. fidelity's active trader pro can help you find smarter entry and exit points and can help protect your potential profits. fidelity -- where smarter investors will always be. mapping the oceans. where we explore. protecting biodiversity. everywhere we work. defeating malaria. improving energy efficiency. developing more clean burning natural gas. my job? my job at exxonmobil? turning algae into biofuels. reducing energy poverty in the developing world. making cars go further with less. fueling the global economy. and you thought we just made the gas. ♪ energy lives here. >>> welcome back to
CNBC
Oct 7, 2016 1:00pm EDT
game is expanding. there has been more and more fans, china, i was in china last year with the nfl, and i've been in europe and you see what they're doing in the uk. there are opportunities to expand. >> i think there are three problems with the product. number one, the games are too delayed. there is no flow of play anymore. everything is interrupted. there are penalties all the time. there are booth reviews of everything. that's number one. number two, i think the concussion thing had some dampening effect. and number three, i think they diluted their product by overexposing it. there are too many games on too many nights. and then they go to london, there is a game on at 9:00 a.m. on sunday morning and then one at 11:00 and then one at 4:00 and one at 9:00. i think they have -- >> supply and demand curve is broken. >> the nfl network may be backfiring to that point, just because now the nfl is actually trying to push more games on to their own network. and you see that. there is talk of the season expanding from 16 to 18, which i think will be a huge mistake. >> players associat
CNBC
Jan 27, 2016 1:00pm EST
street a few years ago at the 5c, we said you need to go to lower price points and they didn't. china, saturation of the market is good for apple. it is saturated with android phones and people have aspiration to move up to apple. so i don't think they need to go to dramatic and lower price points. >> tim, you mentioned you're going to wait a few days to see how it all shakes out in terms of whether or not to add to your current position. there was a distinct shift in tone that tim cook had on the conference call, apple sounded a lot more susceptible to macro head winds, particularly out of china, he talked about slowing growth in hong kong early in the month. i'm just wondering, what do you think you'll know in the next few days that could convince you to add when a lot of the things are things that need to play out. these are things that are unknown, even to just general investors, let alone -- and to tim cook for that matter, in terms of how they play out and how these head winds will impact iphone sales. >> well, i think it is to play a little bit about what steve has been saying,
CNBC
Apr 11, 2016 1:00pm EDT
driven, all what is up with china's gdp and what is janet yellen saying today? >> i feel like saying breaking into rescue from the macro stuff. but i think that if you look at what is the -- the stocks working over the last month, it has been almost -- the walking dead, the commodity stocks, the energy companies with atrocious fundamentals rallying the hardest. the barf index or bhp, anglo, rio and petrobas rallied, all the energy material stocks rallied hard in the face of bad fundamentals. sometimes it is the inflexion point or less worse seems to be how the market is reacting. i worry in some areas of the market, investors have fled to what they believe, because i don't know who told them, the safety, things like campbell's soup, ridiculous valuations for low growth. i think there might be some more to go in the value trade. but i think at the end of the day, after this all shakes out, you got to look for individual companies with strong growth -- >> i was going to ask what your strategy is. you like two chinese companies. which is very interesting that the point. when there is st
CNBC
Mar 28, 2016 1:00pm EDT
question could easily be sold. it would only delay the deal. bigger question might be whether china's insurance regulator would allow anbang to further invest overseas after reported locally that would breach a 15% red line. in the meantime, guys, the uncertainty plays into the hands of marriott or so it hopes. >> certainly. all right. super interesting story now. thanks so much, simon. >>> stock buybacks, good for short-term boost in the stock, are they bad for the company in the long-term? we're going to break down the numbers with some big data analysis. "power lunch" is back in two minutes. wow, that was random. random? no. it's all about understanding patterns. like the mail guy at 3:12pm every day or jerry getting dumped every third tuesday. jerry: every third tuesday. we have pattern recognition technology on any chart plus over 300 customizable studies to help you anticipate potential price movement. there's no way to predict that. td ameritrade. hi...i'm pamela yellen. you may have read my bestselling book "the bank on yourself revolution". over the last 25 years, i've resear
CNBC
Apr 29, 2016 1:00pm EDT
change. argentina opens up its economy to investors. china, notable improvement in chinese day in. it's down about 2% in april. strategists say the health of china's economy continues to be a central focus for investors. will the rebound continue? we get china pmi on sunday night. likely something to react to on monday. in brazil, voting on an impreachment on may 11th. politics will dominate the conversation in europe. spain holding new elections after coalition talks failed. a debate continuing to fire up ahead of a june 23rd referendum. a lot to keep an eye out as the events play out. these are the charts you want to keep an eye on. the japanese yen hitting an 18 month high. does this mean investors are losing confidence in the bank of japan and their rate policy, and gold, a lot of it tied to fed policy. it could potentially mean if we see the japanese yen and gold continue to rally, a certain level of risk aversion in the markets and perhaps a rotation out of equities. that will be the question. >> thank you. have a great weekend. kayla, over to you. >> let's keep the market convers
CNBC
Sep 1, 2016 1:00pm EDT
"power lunch." a couple of stocks on the move with china as the backdrop. first up, alibaba telling jack mau that unisyun that investors don't understand his business. >> when people focus too much on the gmv, then they forget about that we have a much bigger business on the finance. we have a much bigger business on cloud computing. we have a much bigger business on the entertainment side. so, i think in the past two years, we are learning how to communicate with the investors. we're so, so popular in china. we have such a big household name in china. but investors in the states, they don't know anything about us. >> not understanding the business is kind of an issue for investors. >> yeah. >> but that's maybe what amazon was way back when. >> i think people are still trying to figure out amazon, and i think he makes some great points. they have a big cloud business, as well. whose fault is that quality it's incumbent upon investors to understand a business. but to a certain point, it's incumbent upon him to explain the business better. so the fault doesn't lay just with u.s. investors.
CNBC
Jul 18, 2016 1:00pm EDT
expand into china. now, analysts expect the company to grow its revenue 28% to $2.1 billion, while earnings are projected to drop 60% to 2 cents per share. we'll get all those numbers and ceo reed hastings all important letter to shareholders after the closing bell. brian. >> sorry, can i ask a quick question, julia? >> jump in. >> sorry. >> to underline, you save revenues and earnings for last. it almost doesn't matter when it comes to netflix. it always tends to move based on whether or not they've grown subscribers enough for the expectations of the street. >> exactly. for netflix the subscriber numbers tend to have a much bigger impact on where the stock moves than those re knew or earnings numbers. this is a company which has so much expectation of growth baked into that stock price. and what's really crucial here is if you're looking in the united states if they're in half of broadband households how much room is there to really grow significantly here in the u.s.? there's expectation of massive amount of growth overseas, but how much netflix grows every quarter overseas depe
CNBC
Mar 24, 2016 1:00pm EDT
think about what is going on, the three things that matter to the market have calmed down. china has calmed down. oil has calmed down. and the concerns about big spikes in interest rates have also calmed down. that's why we're seeing the vix wn at 14 or 15. but i agree with tim, the risks are are on the upside regardless. the vix has been -- the vix has been 12 to 15 for four or five years now. it doesn't go lower than that. but it spiked dramatically higher. if any of those three components, china, oil, interest rates, the issues surround them change. the vix is going to spike very, very quickly. >> 52 week low on the vix is about 11. we want to get to a rapid update on the economy and steve liesman with that. >> thanks very much. that disappointing durables report this morning causing the street to do a strong markdown of the first quarter tracking number of gross domestic product. it has been marked down by .3% in our rapid update to 1.5%. you can see the fourth quarter is 1%, so the bounceback from the fourth quarter is not nearly as strong as originally forecast. we had been wel
CNBC
May 5, 2016 1:00pm EDT
january and february, there's a lot of certainly and concern about what's happening in china, i think we have seen that calm down quite a bit, and the incoming data are consisten with reasonably good global growth. concerns i've had over global economic developments have come down and the uncertainties seems to have come down. >> you sound like a guy who wouldn't be reluctant to raise rates relatively soon. my focus is looking at our two mandates. maximum employment and price stability. we made a lot of progress on employment. the inflation data have actually been pretty encouraging regarding getting back to 2% inflation, which we want to see. i think we could stay on our bake strategy of gradually removing policy accommodation over the next few years, and that would involve rate hike it is. >> everybody wants to know how many this year? >> data-dependent. typically people set two or three rate hikes this year. i think that's a reasonable view, but we'll be watching the data, make acquire that q1 blip or slowdown in gdp doesn't persist, making sure we're making the right call. >> here
CNBC
May 11, 2016 1:00pm EDT
? you watch too many movies. who? a small business in china. a business? they work nine to five. they take lunch hours. like a job? like a job. we tracked them. how did we do that? we have some new guys defending our network. new guys? well, they're not that new. they've been defending things for a long time. [ digital typewriting ] it's not just security. it's defense. bae systems. >>> a rare moment from the queen of england shedding light on how she really feels about the kline he's, the exchange taking place at a garden party at buckingham palace on tuesday. it was filmed by a member of the queen's own staff which makes you wonder why the palace decided to release that video. interesting off camera or on camera remarks. >> there is always that layer where you are like what do they really think? and then there is this other layer with this particular piece of fill clm is do they want you to know that's what they really think? >> yeah. >> all right. the uk and china to brazil. the brazilian president could be impeached today. majority vote of the senate would force her to step down f
CNBC
Aug 4, 2016 1:00pm EDT
prisoners than china and russia combined. five years and a whole lot of debate later, and the u.s. still has more prisoners than any nation on the planet. 2.2 million people compared to 1.6 million in china and about 650,000 in russia. but, things are slowly starting to change. and not just because the obama administration is releasing prisoners at a record pace. states as diverse as california and texas are clearing out non-violent offenders. and take a look at the long-term trend. this from the bureau of justice statistics. this is the overall people in the system, so it includes people on probation. but the people behind bars are a similar trend. the population is leveling off. so, what does this mean to the companies that operate private prisons? five years ago, we reported on corrections corporation of america, the nation's largest prison operator. today, cca is still going strong, though a little bit of a hiccup the last couple of days. just yesterday, the company beat wall street expectations, both on earnings and revenue. the stock is down about 6.5% today. the company said it lost a
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