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CNBC
Feb 5, 2013 1:00pm EST
goldman sachs just downgraded, buy, neutral, comes after young sales in china disappointed on some can chicken issues there. that's one to follow. goldman downgrading shares of young. >> linked in, buy ahead of earnings. >> buy toll. >> virtual, doc. >> gap stores, 34. >> long ieo and energy player etf. i think it goes higher. >> that does it for us. don't forts to catch more fast at 5:00 p.m., follow me on twitter and scott wapner cnbc. "power lunch" starts right now. >> indeed it does. welcome to "power lunch," everybody. bulls, large and in charge. the dow trying to wipe out monday's triple digit loss. we have two breaking news stories this hour. president obama to speak in 15 minutes time. he will ask congress to come up with short-term packages to put off automotiatic spending cuts. hampton, we begin with you, budget office right now releasing its budget and economic outlook. give us details. >> reporter: the budget office, assumes no change in current laws, 2013 fiscal year budget deficit, $845 billion. cbo projects first time below $1 trillion since 2008, 5% of gdp, well bel
CNBC
Nov 5, 2014 1:00pm EST
be a turn around. china is slowing down. i'm not sure on the fundamentals you would want to buy into that. never buy just on technicals is my point. >> sue, back to you. >>> a number of sectors that could stand to get a boost from the republican win we will profile three of them. dom is drilling on energy for us. >> here is what we got. a reason why energy stocks are going to be a huge focus for investors on the heels of this republican controlled congress. many believe the energy policy will be front and center for the party. dan clifton says energy policy has become the main economic policy for the party and among the things he sees is the approval of the keystone xl pipeline. that could be a huge benefit for companies like trans canada. they are a calgary based company behind the keystone pipeline network of oil pipelines. there could be more exploruation and production all over the place. that means more drilling. they highlight cabin oil and gas and oil services companies like here. they can potentially benefit if the oil and gas business starts to boom a little bit more. the op
CNBC
May 13, 2013 1:00pm EDT
economy, stupid. really. china, of course, and the fed all playing tug of war with your portfolio. here is president obama just a few moments ago. >> i first learned about it from the same news reports that i think most people learned about this. irs and were intentionally targeting conservative groups then that's outrageous. >> as you know, larry already has a lot to say. >> all right. welcome. we're going to start with irs gate. what do you think about this. >> now a tea party and patriots. any applications from these 501 c-4s. associated with israel groups. you were put under the mike scope. that's a new revelation. a second memo came out in july of 2011. >> it certainly doesn't make it right at any level. >> it's stupid no matter where it started. see which people are really legitimate. if you apply for that status you can do some political work. too late for them to be saying outrageous. of course it is. >> how about the treasury department? where is the treasury department? >> they should have said it friday. >> overseaing obama care. that is huge. waivers and regulations. t
CNBC
Dec 31, 2012 1:00pm EST
. we'll be bab in two. [ male announcer ] how can power consumption in china, impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. >>> this is a live television feed from inside the white house. we are told the president will address the country shortly on the fiscal cliff. as we await what will be presumably a market address, let's start shuffling through where we are in a moment. we kick off with mary thompson on the floor of the new york stock exchange. mary? >> john harwood has been reporting throughout the morning and gifting lift throughout the day, the dow off 54 points and we are seeing gains in material stocks and also tech stocks getting a nice bid into today's session. you
CNBC
Mar 28, 2012 1:00pm EDT
generale talking about growth in china this year. bigger copper company reporting declines. durable goods were disappointing didn't pick up from january's decline. that's an issue. there's another thing going on. besides the global slowdown, we're reaching the end of the quarter. a lot of pensions have quarterly rebalancing. if stocks have gone up 12% this month or this quarter with bonds flat to down, that means they've got to sell stocks and buy bonds to get back to say a 60/40 balance. that may be a factor. very tricky to call this. nobody putting out press releases about what they're buying and selling in the pension funds, but clearly that's an issue here. the i shares versus bond funds. s&p 500 and biggest bond fund out there. basically flat to down. that's what i mean about the rebalancing going on. a lot of speculation about when if anything all these people in bond funds might be deciding to get out of them. the bottom line, sue, i think there's a global slowdown story playing out here and i also think the end of the quarter story as well. >> indeed. bob, you mentioned the bond m
CNBC
Dec 10, 2012 1:00pm EST
underlying economy is improving. now you get china. if europe can stabilize, i think we can go much higher. >> how many days, if you add headline that monty was thinking about, going out and bursceloni was thinking about coming back. follow me on twitter. and "power lunch" begins right now. >> halftime is over. "power lunch" and second half of the trading day starts right now. >> and here we are. welcome to "power lunch." as you can see, we are beth here on the floor of the new york stock exchange. and stocks are higher as fiscal cliff song and dance continues in washington. mr. boehner says he is waiting for a proposal from this gentleman, the president. president obama. and the president is set to speak about the cliff and the a economy later today. >> i thought i was supposed to come here today. you thought you were supposed to come here today. so we are both here. not really, folks. a lot of talk today is about what investors should do if we go over the cliff. what should we do if there is a debt deal before year-end or shortly thereafter. we have smart strategies and individual
CNBC
Oct 28, 2009 12:00pm EDT
china. i think there's a possibility you see a surprise here. this china demand could be real. i was looking at mt. they came out with earnings and i think it's a buying opportunity. you could see real surprises on the earnings side. >> if there is demand for the coal out of china, is it an area that could be an opportunity today? >> i have to add in terms of short-term, yes. in all these names we're seeing put selling in nucor as well. if you're a short-term trader, there are some long opportunities there. >> i want to get to the idea of coal names. are you seeing interest in coal names today? >> yeah, there have been a lot of interest,yeah, but again eve going in with trepidation because they're in and out of a lot of these names. they're taking any bump. they've sold off a bit even with good earnings. traders are actually being very nimble in this market. >>> let's move on it the tech trade. tech trade in trouble for a third day in a row. nasdaq leading today's drop. index is now negative for october, something it has not done since march of this year. jared, we have been leaning
CNBC
Oct 8, 2013 1:00pm EDT
are expanding our business quickly in china, brazil, russia, and other developing countries. giving people in those communities that are creating new wealth access to the highest levels of our culture and that's a big part of our mission. >> will that be, do you think, ultimately the lion's share of your revenue stream from emerged markets but perhaps outside of the united states? >> well, the american market is still our largest market by far and western europe is very strongly in second place. but, of course, the asian markets and the other developing countries will be a big part of our growth. but by no means are we reducing our focus in america and western europe. most importantly, our true focus is on the great artists that play steinway, the great players of the piano around the world will be our core market. >> have you ever seen anything like the browns who are, you know, been playing fors us throughout "power lunch." i've never seen five siblings all one, get into juilliard at the same time and play so beautifully and passionately together, it's quite extraordinary really.
CNBC
Aug 7, 2009 12:00pm EDT
you that china is ordering up from cisco. you speak to the united technologies and caterpillar, they are increasing manufacturing because of china's stimulus and not because of theus congressional stimulus. they have massive lay offs in many, many states. you can't look at the construction stimulus and you have to look at the whole package and that package in conjunction with bernanke is done and the obviously actions and all of the actions by the government to try to stave off a complete economic collapse. the united states has obviously i think had a coordinated effect with what china may have done and europe has done. you have to look at the actions together, not separately. >> economists are saying the companies overdid it with the layoffs as we have seen. they were preparing for a 10 earthquake and we got a 5 magnitude instead. >> that's right. so many so-called experts warn that we were going to the great depression. and i in fact would blame george w bush. we had to pass the stimulus plans. >> for looked bleak back then. >> for did. i think companies did slash payrolls quickly
CNBC
Aug 11, 2009 12:00pm EDT
in china. >> and speaking of stimulus, what about brian, this big auction today, and all these huge auctions this week? how is this ten-year going to go, this 30-year later in the week. is there concerns about whether or not the government can borrow that much money? >> exactly. today's auction is a three-year auction, it can sell 2s and buy 3s, only $2 billioner than the last one. that's no problem. the problem is tomorrow, the ten-year auction is right before the fed announcement. the fed probably won't change rates, but they might say something, and is this is a big might. they might say something about whether they're still going to buy treasury bonds or mortgage bonds and agency bonds. so is the quantitative easing program still on. if the fed starts backing away from buying treasuries, that will raise rates, because they have been the gorilla in the room buying treasuries. so that's also going to hurt the stock market. >> before we go, if we're replenishing inventories to rebuild this economy, what are you buying here? >> well, we've been pushing technology, especially the cor
CNBC
Dec 29, 2016 1:00pm EST
question, which is basically what's the downside risk for next year, not being china, europe, middle east, think of it not being places focused on for a good three to five years. if one comes is going to be in a place, even in the united states or some bank or financial situation, some type of meltdown that's unforseeable today. that's really the only scenario on our horizon. those are always there. it's just very likely that we discounted that type of downside. >> doug, your biggest risk quickly. >> yeah, i think the it's dollar strength, capacity constraints inside the united states. from inflation in the wake side. >> doug and jerry, guys we appreciate your views. we'll see you soon. >> happy new year. >> now to a news alert in the bond market. seven year notes up for auction and professors said kelly break out your red pen and grade this for us. >> we don't need a red pen today. a very solid auction. 28 billion seven year notes, the last of the year. fielded the dutch auction, 2.84. right at 228.5 price spectacular. if we lack at the bid to cover 2.54. 64% above average. 19% on d
CNBC
Aug 10, 2009 12:00pm EDT
our fund. again, we tend to take a longer profile in terms of where we think. china as we said earlier is not going away. they are using real money. they are not going to continue to be thorrer. >> we have breaking news. >> what do you have, phil? >> i am standing by live with bob, the president of general motors who was just helicoptered in, piloted in to a day of cars, customers and culture for general motors. we are heading in, but give me perspective in terms of as we look at where cash for clunkers is, has demand slowed down at all as they extended this. are you seeing as much demand? >> i think we are probably seeing a slower restart, but it seems to be catching o. the numbers are above prior levels. >> you expect this to continue? it's not as red hot as it was. >> no, i think everybody who wanted to trade probably traded it and or was in the process, although one of the people who worked for me at home traded in an elderly mercedes on a brand-new four-cylinder malibu. there is one i know. the difficulty is that we have some pretty firmly established rules of the mileage
CNBC
Jan 26, 2010 12:00pm EST
it was on the down days in thursday and friday and those comments by china trying to slow lending is definitely hurting commodities and commodity stocks. you know about apple reporting better than expected numbers and tellabs also did very well as did texas instruments and they're helping move the nasdaq forward and tech stocks in general. steel's been a disappointment. u.s. steel that's been in the flat roll business. automotive had a problem with their numbers below expectations. it looks like market conditions are not improving that much. we also saw some interesting moves in the regional banks and put those regional banks because they did numbers that were a little bit on the disappointment side, bigger loss than expected. zions is up over 10%. tyler, back to you. >> bob, thank you very much. president obama set to unveil a huge federal spepeg freeze in his state of the union message tomorrow night. we also have new forecasts on the nation's budget deficit. our chief washington correspondent john harwood has the details. john, so take us through it. the deficit numbers are really
CNBC
Mar 5, 2012 1:00pm EST
. >>> scott, thank you very much. three hours to go in the trading day. and china is bigger than europe on the wall of worry today. china cutting its growth outlook to the lowest level since 2004. that has investors nervous and pulling back. we'll ask a top gun from jpmorgan what it means for the markets and your money. >> you know, most investors have at least some cash parked in a money market fund. but are they safe? the s.e.c. wants big changes to protect your money. companies like fidelity say those reforms will destroy the business. so who's right? >> and a tale of two techs. apple and possible layoffs coming at yahoo!. details on companies heading in opposite directions, ty. >> welcome everybody. i'm tyler mathisen along with sue herera and brian shactman. and "power lunch" begins right now. >> good "power lunch" to you on a monday. factory orders declined. service sector expands though. mix in those concerns over growth in china. investors a bit cautious today. dow down about 64 points. s&p almost ten points. and the nasdaq down a full 1%. and below now of course that 3,000 leve
CNBC
Jul 16, 2014 1:00pm EDT
%. china up 8%. chevy and buick brands is what's driving sales in china. adding cadillac 51% in china in the first half of this year. global sales for cadillac up 14%. this news comes one day before mary barra is set to testify in washington. her third visit to capitol hill to talk about the ignition switch recall crisis. she turned down a request this time, however, to meet with victims. she did that the first time she went to capitol hill. if you look at shares of general motors over the last three months and moved higher, think about this, gm right now has sold 4.92 million vehicles. there's an outside chance gm could sell 10 million vehicles worldwide this year. >> an amazing stat despite the headwinds they have going against them. >>> now to morgan. >> check out tesla as we're staying with the auto theme. moving to session loss. it said will name the model 3 as it attempts to hit a wider consumer audience. the vehicle will go on sale in 2007 and compete with vw. price are set to start at $35,000. stock trading down half a percentage point. sue, back to you. >>> a developing story, a
CNBC
Mar 13, 2013 1:00pm EDT
same. the spectrum ranges from nation states such as china, russia, the government of iran and its proxies all the way down to a kid operating out of his own basement in his home. we don't have the tools and instruments we need to address all of the issues. at the end of the day we're never going to simply fire wall his way out of the problem. you deter actors, not so much a tactic or a technology. we need to improve our information security. we need to improve our cyber security. we have a number of sticks that we're looking at such as the promulgation of the executive order. we need to couple that with incentives and carrots. >> frank, it seems to me that this is getting worse every day. and that there is no way right now to enforce law and order online. is it -- am i mistaken? it seems as though those attacks are becoming more and more frequent. >> they are becoming more frequent. there are more actors involved. the bar is getting lower for people to enter into this space. and the penalties are not necessarily there when you do identify the perpetrator. >> what do you think the
CNBC
Jul 22, 2014 1:00pm EDT
past it's been asia, but also technology. >> china and taiwan are really inexpensive right now. the long proclaimed hard land -- we had some slowing, apple, ibm, exxon mobil, not companies like amazon or netflix, which are priced to move. >> absolutely. >> it is interesting that despite the fact that we have an escalation in the middle east, this market keeps pushing higher. >> it does, but what we saw overnight was the escalation in the middle east seems to be -- or at least last night seemed to be coming a bit of control. you saw markets around the world rally, which kind of fed into today, as well as the seven dow stocks. geopolitical issues, is that but then -- created by that emotional reaction, and if you believe in the recovery, then, you know, it's a great place -- >> and the fed. >> it's a great place to be. >> they do very well. a global recovery -- >>> thank you, gentlemen. >> thank you, sue. >>> all right. let's send it over to dominic for a quick market flash. >> let's talk about the industrials. genuine parts company, the stock is moving lower on the second quarter rev
CNBC
Jul 24, 2014 1:00pm EDT
conveniently for you in the quarter. it's really europe and china that seem to be blowouts for you. talk us through what's happening. >> yeah, i really think it was not only a good quarter but we were able to look forward and see that people are coming back. people are doing more cruising. our family market is growing. china, of course, is a great opportunity for us. >> it is the pricing in europe and china that is the standout, correct? the issue for you guys is you've got fixed capacity. you're going to fell the ships. it's a question at the price in which you fill them. >> i'm wondering if you're not perhaps giving up on caribbean because of low ka passty, just because of margin or south florida. we have the build-up for your new class of ships. this is the ship that has the 300-foot crane on it, lifts people into the sky on a capsule. it turns out when the ship arrives in november, it's going to spend sick months here, and then you're sending it off to china. so are you giving up on southern florida? >> i love it when my biggest problem is that people worry that we're taking ou
CNBC
Aug 9, 2012 1:00pm EDT
trade with china and trade with europe is going well. however, is that something that's in our rear-view mirror and the weakness over there to hurt our exports? we seem to have with stood the weakness of those two countries. >> back to you, sue. >> joe, let's address the export picture first. i think that's an interesting point. and how much of that is currency related. how much of it is not. what do you make of that? >> i think probably more rear view. hard to believe exports as strong as they are in light of what's happened to the global economy and particularly europe and seeing things like the ism survey. i think export growth is going to slow over the next few months. having said that, if the ecb and the european policymakers do some things that the market thinks they do then you'll see exports recover later in the year but the story to talk about is housing because there's so much positive stimulus to come from a stronger housing market in terms of household and bank balance sheets, wealth assumption and the multiplier that housing has on the economy and makes me more bullish
CNBC
Sep 17, 2012 1:00pm EDT
, fighting for the votes of blue collar workers. mitt romney says that he's going to get tough on china but declaring them a currency manipulator on day one of his presidency. president obama says i'm walking the walk right now. today his administration filed a trade complaint with the world trade organization against chinese for allegedly subsidizing auto parts. here's the president today in cincinnati. >> these are subsidies that directly harm working men and women on the assembly lines in ohio and michigan and across the midwest. your senator sherrod brown has fought as hard as anybody to stop this and we are going to stop it. it is not right, it is against the rules and we will not let it stand. >> reporter: now mitt romney is trailing in the state of ohio. that's president obama's trying to reinforce his lead. but mitt romney's trying to deal with another issue that is his poor support among hispanics. he's addressing the hispanic u.s. chamber of commerce today. the romney campaign says he'll provide more detail on his policies especially on the economy this week. however, on a confere
CNBC
Nov 2, 2012 1:00pm EDT
. they've emerged from poverty in india. and in china. and in different places in the world where they've embraced capitalism. is there greater -- hold on. is there greater wealth disparity in yes, there is. but disparity is the tradeoff you accept for growth. if you want no income disparity, we've seen that movie. everybody's poor. >> well, actually, i actually think that a big part of what's going on is what's happening in the emerging markets and you're absolutely right, that part of the global tradeoff that we're seeing right now is hundreds of millions of people coming up from poverty in the emerging markets in to the middle class. but right now -- and this is not something that needs to be debated. this is something that the data shows -- the big losers where we're seeing the hollowing out is in the middle class, in the western industrialized economy. you know, again, i think the industrial revolution is a great comparison. overall, it was fantastic that we had the industrial revolution. who would argue with that? but, but, for society to adjust to that new economic reality, to the
CNBC
May 14, 2012 1:00pm EDT
a focus on enterprise, i.t., electronics and china. scott, welcome, good to have you with us. >> thanks so much, tyler. it's a pleasure to be here. >> after facebook, what's the next big area? is it the cloud? what? >> well, clearly everybody's focused on the cloud. but i think the cloud is really about infrastructure. it's about the inventing and reinvents of all the infrastructure that makes up the net. it started with google when they discovered they would be so big none of the existing technologies would work for them. so they decided to hire thousands of brilliant engineers and re-invent everything for themselves. once they did, they showed it could be done. but they saved that mostly for themselves. so there's a whole new wrath of start-ups that have created and served them out. including facebook. fusion io went public about a year ago has been a big vendor to facebook and apple and other cloud vendors. >> which companies of the ones that you're looking at in the cloud area have you most interested right now? >> well, i'd have to say we're most excited about the ones t
CNBC
May 14, 2010 12:00pm EDT
point, julia. michael, i guess the other big elephant in the room for google is china. what's your take on the company leaving the most populated economy and certainly the fastest-growing internet market? >> if i could elaborate on what julia said. search advertising is great for people who raise their hands and say, i want something. but display advertising and brand advertising is about the other persuasion. google hasn't mastered that yet. that's a big challenge for them ahead. china is obviously a market that has not emerged. so it's not going to hurt them in the short term. the question is, this is a -- potentially a huge advertising market and google absolutely has to be there. >> real quick, michael, if you were going to be putting money to work, would you put new money to work in google today? >> i think i would because i think that what i'm hearing from the advertising side is that they are working the hardest and the advertisers love the new tools and google is gaining these capabilities very quickly. >> we'll leave it there. julia, michael, great to talk with you, thanks
CNBC
Sep 21, 2009 12:00pm EDT
fact that china was ramping up its energy demand. it's softening. reporting last month china's oil demand was down 5%. also, china's biggest refiner saying that diesel demand is off. nat gas, which rallied last week on a technical rally and short covering 9% on friday is the best performer. we're watching gold. we're looking at the close. gold has closed above $1,000 for six straight sessions. we'll see if it can make it seven. it's come off the lows. >> bertha, they're also watching that in the bond pitts in chicago, and they're watching the dollar, which you mentioned, as you look at the yield on treasuries, we have, of course, the fed meeting this week. in addition to that we have the g-20 where they're going it talk about a variety of things. it's not expected to have too much market impact with the exception of the fact they're going to be talking about executive bonuses, which could roil the markets a little bit. the dollar index right now up about half a percent on the trading session. markets been able to absorb supply in the last couple weeks pretty well. they're expecting
CNBC
Oct 2, 2012 1:00pm EDT
brainard, the behind-the-scenes go-to person making deals with europe and china. is any progress being made there? and then, penny for his thoughts, details of an exclusive interview with jc penney's ceo, ron johnson. how long before his grand turn around plan shows results? and a bit of a turn around for the markets. are we -- we are down as we come on the air. sue herera, by 60 points? >> that's right, ty, a modest decline. yesterday when we started here, we were up triple digits, today, both the dow and the s & p lower, profit taking perhaps or something more. let's get the trading action here with bob pisani joins me from the floor. i would say it is a little profit taking. we still have a a lot of data points we still have the employment report out on friday and we'd big triple digit advance in the dow. >> very frustrating to say we are still moving on europe. happenness every day makes people crazy, look at the dow jones industrial average, waiting for spain to ask for a bailout request. it is that simple. 11:15, 11:30, the prime minister of spain came caught and said you l
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
Nov 8, 2013 1:00pm EST
continues to move past the philippines into the south china sea but not before creating a lot of destruction across the way in the philippines. the last 24 hours worth of satellite pictures, you can see that it moved just south of the city of there, likely with category 5 winds. we don't have contact with this area yet. hopefully they will be back on-line soon and able to get the reports from there. pretty devastating results. i'm sure we will find out as we find out as this super typhoon moved through the region. it's estimated to have winds at about 155 miles per hour, estimated from satellite. we're not sure how strong it is but we are clear on the movement west at 23 miles per hour. it's going to bring it into parts of vietnam over the next couple days likely over the weekend and maybe as a category 2 or category 3 equivalent storm. significant damage is possible along that path into vietnam over the weekend. so guys, the story does continue. back to you. >> thanks very much for that report. the storm, of course, sparking fears now about the global supply chain. what companie
CNBC
Feb 17, 2010 1:00pm EST
! hi, ellen! we're going on a field trip to china! wow. [ chuckles ] when i was a kid, we -- we would just go to the -- the farm. [ cow moos ] [ laughter ] no, seriously, where are you guys going? ni hao! ni hao! ni hao! ni hao! ni hao! ni hao! ni hao! ni hao! ni hao! ni hao! ni hao! ni hao! [ female announcer ] the new classroom. see it. live it. share it. on the human network. cisco. tdd# 1-800-345-2550 to help with my investments. tdd# 1-800-345-2550 so where's that help when i need it? tdd# 1-800-345-2550 if i could change one thing... tdd# 1-800-345-2550 we'd all get a ton of great advice tdd# 1-800-345-2550 just for being a client. tdd# 1-800-345-2550 i mean, shouldn't i be able to talk about my money tdd# 1-800-345-2550 without it costing me a fortune? tdd# 1-800-345-2550 if i had my way, investment firms would be tdd# 1-800-345-2550 falling all over themselves to help me with my investments. tdd# 1-800-345-2550 (announcer) at schwab investors rule. tdd# 1-800-345-2550 are you ready to rule? >>> michelle, we've been wondering where you found that fine chapeau. >> at roots, a bi
CNBC
Jul 31, 2012 1:00pm EDT
>>> china at new 2012 low. >> pfizer is real, no close resistance until later. >> i did not say sentences. >> it looks like congress may have finally struck a funding deal to keep the government running for six months, anyway. right, sue? >> that's right. until after the election, which is key. chief washington correspondent, john harwood joins us live from capitol hill with the details, john. >> sue, it's important to clarify what this deal does and what it doesn't do. it does keep the government inning beyond the election, a six month deal to extend current government funding levels from the last white house budget deal. it does not resolve any of the fiscal cliff issues, extension of the debt ceiling, budget sequesters automatic 2.2 trillion cuts scheduled to take effect at the end of the year, expiration of bush tax cuts, all that remains on the table. republicans and democrats at least agreed they won't have brinks man ship and showdown over shutting down the government the rest of this year, 2220of 2013. we expect the leadership to announce this is about an hour. this is a
CNBC
Jul 13, 2009 12:00pm EDT
they are going to head in the future with places like india focusing on infrastructure and china. they are everywhere, all the time. >> we have to wait to get my personal view on that. we are sitting on the sidelines. >> good point. what do you say? >> i have to watch how oil closes. this is the low so far and the weakness will be too much for people to stand in front of. >> are you ag gnostic? >> no, but i am looking for the market to trade up into the close. >> zeke? >> it's a tough day. >> your complete earnings playbook tonight at 5:00 on fast, but first on "power lunch," morgan stanley has a new mvp and you won't believe how young he s. >> i wouldn't believe. >> we will bring you that and coming up on "power lunch," not only the triple-digit rally and the ceo of louis vuitton. president obama's economic agenda. is it stalling and how do we get it back on track? see you at the top of the hour. >>> stocks in three weeks. positive comments on cnbc by meredith whitney. ford is bankrupt to the auto supplier, vift yon. they are calling the plan too rich. moody's had troubled financial c
CNBC
Sep 4, 2009 12:00pm EDT
sides of that market is good. more usage in india, china, so forth. a big favorite of japan. >> physical demand, industrial use, jewelry use, that kind of stuff, so that's picking up. >> yes. the jewelry use is still a little bit pricey -- >> is that an economic indicator sign? >> it is. >> if physical use is increasing? >> i don't think the current move is economic, but if we see jewelry kick in, that would be an indicator. >> indian wedding season in december. >> good to know. >>> one year ago, the feds came to the rescue of fannie and freddie. diana olick will sort it all out. >>> manhattan trophy properties. what's selling, who's selling, for how much? are they really bargains. he ran off with his secretary! she's 23 years old! - oh, come on. - enough! you get half and you get half. ( chirp ) team three, boathouse? ( chirp ) oh yeah-- his and hers. - ( crowd gasping ) - ( chirp ) van gogh? ( chirp ) even steven. - ( chirp ) mansion. - ( chirp ) good to go. ( grunts ) timber! ( chirp ) boss? what do we do with the shih-tzu? - ( crowd gasps ) - ( chirp ) joint custody. - p
CNBC
Jan 25, 2010 12:00pm EST
world. where are you seeing the best demand? >> the biggest demand is asia pacific, clearly china is leading that. i would say, here in the u.s. and in other developed nations around the world, we're going through this orderly process of businesses bottomed. mid cycle businesses have bottomed. so, we've got sort of two different activities going in terms of slope. >> mr. cutler, i want to change gears a little bit and ask about the political environment, whether you specifically feel that the current administration is anti-big business. >> i would say more specific i, there is so much uncertainty in the air around major pieces of governmental policy that it acts as a form of anti-stimulus. so in spite of the stimulus bill having been passed, business doesn't like uncertainty. investors don't like uncertainty. until we settle some of that, it will result in lower investment in the u.s. >> you don't think the administration is anti-business per se but the effect is anti-stimulus? am i understanding in. >> yeah. it causes you to pull back on investment until you understand what this env
CNBC
Dec 17, 2012 1:00pm EST
? sales of the phones soaring in china over the weekend. 2 million of them sold in the first three days of its launch there. so are fears about apple overblown? president obama says he will use whatever power he has to prevent another massacre like the one in newtown, connecticut. what can be done, if politics is the art of the possible? where does the possible reside in america? we talk solutions today on "power lunch." my partner, sue herera, sue? >> let's look at where major averages sit right now. just a second ago, we were up 80 point on the dow. we are close to the highs of this session so far. nasdaq composite is up 29 on the trading session and s&p 45u7b is up 13. it is that optimism over the fiscal cliff which increased over the weekend after house speaker boehner edged ever closer to president obama's position. indeed, the speaker met with the president at the white house this morning. eamon javers is at the white house. eamon? >> previous meetings between the president and speaker had been telegraphed a little bit. this one was not today. this is an interesting development but a
CNBC
Feb 7, 2017 1:00pm EST
worries there on when's going to happen over there and causes people to reign in risk. china report a drop in reserves last night. well, this's not a pressing issue but it is an issue for the background and makes people more uneasy with things and then concerns over whether or not trump's policies of, you know, rolling back regulation, of cutting taxes will take effect. >> actually happen. >> and the delay. but i think, you know, that causes people to be more worried but what we have seen in the rally so far is two fold. not only just optimism over trump but pricing in what would have been the scenario under a clinton presidency and more regulation so some of this gain, it doesn't all have to come back seeing a delay in the -- in the delay in the legislation. >> tim, make me some money here. where should i put some cash right now for the next six months to a year? >> well, i think if you want to reach out the risk curve risk, the retail sector is overdone in terms of sentiment. you don't have to go for the bombed out apparel plays. looking at gap which is somewhat controversial and a great
CNBC
Feb 3, 2010 12:00pm EST
china. massey is having a nice rally. i bring that up only because at this point, what do you do? >> well, you know, in those names and the coal names in particular, i would probably be a seller. i don't have a position in that right now, but if you look at the ism number this morning, to me it really wasn't that great. if you look at some of the sub indices, a lot of people and a lot of companies thought inventories were too high and that tells me the inventory cycle might be ending here which means the economy could be slowing and if the economy's slowing you use less electricity. so you're sticking with your coal train, brian. that's the bottom line here. let's talk about the financials and so far we're seeing lackluster movement and the bkx and the banking index of chuck's regional banks and 2%. you're seeing good price action on goldman sachs and that is the chart of the day. scott, what are you seeing there? we've seened about price action after the last couple of days on goldman. >> goldman sachs has been a great barometer for the market. it was a great short and when they
CNBC
Jul 19, 2012 1:00pm EDT
stockpile of chemical and biological weapons. just a few moments ago, china and russia jointly vetoed a u.n. resolution aimed at putting more pressure on assad. so if syria fails, what does it mean for the oil power house in the neighborhood, iran? one of this country's foremost experts of tn islamic rebubble and getting to him in a moment. first to oil and sharon epperson. light sweet crude and brent moving higher. west texas crude up above $92 a barrel. up $2. 74. brent at $107. those are the highest prices since i believe early may. iran and syria, now the talk of the nasdaq, also that bombing in bulgaria of an israeli tourist bus, certainly the talk of the floor. >> here at the floor of the nymex not talking about europe or the fiscal cliff. they're not talking about earnings. it is all about middle east tensions and that's what traders focused on and watching and listening for every development that occurs in syria and also watching very closely the response by israel to these bombings in bulgaria killing israeli tourists. of course, iran said they have no involvement in t
CNBC
Jul 24, 2015 1:00pm EDT
because of china and the potential for demand there. also for gold and oil as well. that's a key factor. the dollar pressuring copper also and people look at it as an indicator of what what may be to come for the global economy and potentially stocks as well. >> jackie thank you very much. >>> let's look at what's moving this hour. amazon sure is sharply higher. share prices there after the online retailer stunned investors by posting a -- get this -- profit. amazon brought in 19 cents a share in contrast to the 14 cents a share loss that analysts were expecting and the move in the stock vaulting its value above that of walmart. >>> music streaming service pandora beating estimates by 3 cents. revenue was also above estimates on a jump in both subscribers and ad revenue. nice 15% more for that one. tripadvisor, meanwhile, missing estimates by a penny. the travel website operator did see a 25% increase in sales but that was weaker growth than the street had been forecasting. >> quite a tanking in the stock there. >>> take a look at this folks. this is new shocking video coming in
CNBC
Sep 6, 2013 1:00pm EDT
normalization in the world and you're seeing china is not falling off in a hard landing, europe, the data is significantly better so i think we're in what's a more normalized economic investment. with that what do you do with that? means you have to try to create income in different ways, taking interest rate risk and placing where the economy is reasonably good is tricky. fed is going to remove. it's going to start removing this large-scale asset purchase program. it means you have to be careful about long end interest rate risk. own your interest rate sensitivity shorter on the curve, own spread income in different ways. keep your interest rate risk down. you can still take interest rate risk in parts of the world where policy -- where policy is going to be easy for a while. being flexible and making fixed income because interest rates won't work for you. >> impact on housing and michelle mentioned it earlier. talk it me at what level people start to pull back because of an interest rate risk. >> well, we're already seeing people pull back. what we eve seen so far is volatile rates, the
CNBC
Jan 29, 2010 12:00pm EST
same taking a look at demand for oil versus demand for copper? >> copper is tethered to china. it seems it's all about the china story itself. i don't like what's going on in china. oil, i think, you get more of a global reach. >> therefore, joe, long oil or long some of the names? services names? >> i don't want to look at the oil futures themselves, experiencing contango. i bought at oih. i bought halliburton the other day, added to that position as well. >> joe, great to speak to you. let's hit the chart of the day. joe mentioning crude. what levels are you looking at for the oil chart? >> i agree with what joe said. copper looks heavy but oil looks good. 71, you should be short term seller in 71 level. trend lines for it 200-day average. to be short copper, long oil, down into the level i think looks pretty good. i'm with you. >> let's move on, talk about the fast and furious. answer burning questions into the close. humana, steve, are you a buyer? >> you could see a spike higher but the overall market moves low somewhere drags us down as one. long answer, no, i wouldn't be a
CNBC
Jun 25, 2012 1:00pm EDT
to many different countries, and i can't imagine that they would do anything to stop china from buys iranian oil, so i think iran will still have a market, there will be a way around the insurance issue, even if there has to be some kind of self-insurance, which iran will pay for through the don'ted price of oil. so i think this is going to be largely a nonevent. >> does it make life harder for a country like iran that is so dependent on exporting oil? i infer from what you just said, not really. >> i don't think so. there's several different levels of the market out there. the iranians have been pretty expert at finding ways to acquire nuclear capability. i'm sure oil trading will be an easy play for them. >>> how can the u.s. use oil as a lever or weapon if it's indeed so easy to get around? >> it sounds like tough talk, but the reality is there's almost no substance in the policy. it makes it look like something is being done when in fact virtually nothing is being done, because oil is a a global commodity. it's going to find its market wherever it goes. while somebody can ta
CNBC
Apr 21, 2017 1:00pm EDT
cars globally. there's more than just the u.s. >> even in china they're seeing car sales down. >> i think car sales are still up in china. certainly up across europe. there are other growth markets. delphi is content. you're seeing more of their products per car. >> what's the last stock you sold? >> we sold some vf. >> are you out of it? >> we're out. >> because you have few stocks. that's why it's a focussed fund. what made vf corp. now unattractive to you? >> everybody talks about amazon is disintermediating brick and mortar, but also it's brands. vf has great brands, but we saw better the opportunities in the market. >> we started off talking about mastercard which is down. visa is also down. why do you see that as a secular growth story? >> think about the different ways you pay for things. you're using your cards, whether it's your apple pay or whether it's any other way that you're using your credit card or debit cards much more in every part of your life. right now 84 % of all transactions around the world are still done with cash and check. there's still a huge conversion o
CNBC
Dec 26, 2012 1:00pm EST
asia on hopes that maybe this new regime in china is going to be spending more helping to prop up the property department there, housing, than might mean more demand for industrial metals. copper today, the standout in part because of that. also, a different note, the s.e.c. ahead of the holiday delayed a decision on the proposed etf, according to the "wall street journal," the etf would hold twice as much copper in terms of holdings compared to the jpmorgan holding approved on december 14th. >> i think 182,000 physical tons they could take off the market. we'll revisit it later. for a moment, thank you. bob pisani is joining me on the floor of the nyse. the big discussion is about retail and what the figures from mastercard tell us. >> i just want to point out that the dow industrials dropped in the middle of the day. there had been some concern the house leadership which is all coming back now did not send out a 48-hour notice to their membership requiring all the members to show up and vote, even though there's no fiscal cliff deal, there was hope they would bring everybody bac
CNBC
Oct 22, 2012 1:00pm EDT
of china. this is the biggest week of central banks. i'm looking for this as well to go up here. >> so that sounds like two bullish calls there. the apparel company vf corp., lee jeans, wranglers and all of those, bigger quarterly profit though revenues came in shy of expectations. company also announcing it is increasing its quarterly dividend by 20%. buy, sell, hold on vf? >> just like mkeep in mind, it e close last week. i'm very optimistic out here. they got hurt a glit in their european sales of northface. on top of that, lot of retailers are very conservative and they were's trying to be stung last year when they bought all that stuff with that warm weather. >> but, man, they sell a lot of those northface -- >> they are selling 23% more in china. on the trajectory it is going up. >> real -- comfortable -- jeans. all right, see you in a little bit. >>> many americans facing an uncertain future with their retirement funds. what is the smart way to play catch-up? $3.5 trillion worth of advice for you from blackrock. >>> the big three automakers have always banked on consumers
CNBC
Dec 21, 2012 1:00pm EST
forward. we think broadly of markets like china and brazil. these are markets that started to increase monetary easing. that have started to restructure their economies and certainly we think china has avoided very nicely a hard landing and will be back for growth track next year. >> talk to me about getting yield. that what everybody want right now. how are you doing it? high yield or investment grade securities or where? >> we are underweighted and they don't provide much of a yield these days. they are on high yield and we've had a barn burner of the year with high yield. we still think you can get high digit returns in 2013. and we are looking at global infrastructure in real estate as providing a nice sustainable yield for investors. >> the big debate down here for the past couple of days after the fed made its announcement is whether or not that will prick the bond bubble. where whether we are in a bond bubble or whether there was a bond bubble. where do you stand on that? >> it's interesting. when i think after bubble, i think of something that can burst and drag values
CNBC
Sep 26, 2012 1:00pm EDT
. jane, you may not know that china has established a strategic pork reserve. >> that's true. they are trying to provide more of their own pork so they won't have to import much. simon, when is the last time you bought bacon? >> yesterday. they put it in an omelet when i asked for ham. have you ever bought it in the grocery store? >> i don't go. >> i do. if it was meat, gasoline, milk, bacon is 4.60 a pound on average now. so it goes up 20%, that's 90 cents. that won't impact your cell phone bill. >> i think it is a potentially big geostrategic problem. think of the protests in spain now. what happens when the price of chorizo doubles? >> no more bacon shakes. >> terrible. the bacon buck will be unavailable to most americans. >> just will have to be regular vodka. >> you look great, jane. >> i thought you meant me, simon. >> i want to bring this light with me everywhere. when i go out to eat tonight i want the light with me. this is my beauty light. >> thank you very much, both of you. on the next hour on cnbc big name companies. you know rimm, barnes & noble making hail mary passe
CNBC
Sep 25, 2012 1:00pm EDT
survey.ve jus addicted to hope? and do we really need china? do we really need them? by we, i mean u.s. people, american corporation. we will debate that on the back of our discussion yesterday about the road bumps for electric cars, tesla motors putting out a warning. going to talk about that with phil lebeau. lots of things at the top of the show. sue, simon, back to you. >> do let us know what you decide to do with china ultimately, amanda. >> absolutely. we will. got to tune in to find out, simon. there's the tease. >> i will. i will. >>> this is the first day of the rest of yahoo!'s life you the new ceo marissa mayer is talking to the rank and file at the company's head quarters about her vision for the team. she started the conversation july 17th. since then, the stock is up and down. standing in the $16 a share range today. 15.86, give or take. jon fortt is live at yahoo! headquarters with the latest. hi, john. >> hey, simon. the best i can tell, thins meeting got started about the top of the hour and seems to still be going on, haven't seen a lot of people coming out just yet.
CNBC
May 28, 2013 1:00pm EDT
. a lot of houses are being purchased by blackstone, and this week we learned that china, the sovereign wealth fund may start purchasing houses with its -- >> individual properties? >> yes, with the foreign currency. so i think a lot of this is investor driven. it gives me pause on how strong this really is. >> cindy, you realize the prices, even though they are up at the highest pace, they're still about 30% below the peak? >> that's a really good point, the most important appoint. we're not there yet. i think we're just starting to get back to a little more normal, kind of seeing the early signs of it. but you're looking at most of the sales happening in existing homes. the think that will help drive the economy will be new home sales. >> back to 2003 in terms of levels. >>> let's go to another happy story here. the cruise industry, another pr nightmare for that industry, royal caribbean ship burst into flames at sea near the bahamas. have you ever been on a cruise? >> i was on a cruise once, and it's because i love my mother. i'll tell you something, i was completely shocke
CNBC
Aug 7, 2014 1:00pm EDT
2013 of the emerging markets are started getting affected. brazil, china, also are weak, today. sue, finally, inflation, restaurants with earnings have been talking about higher cos , costs,. wendy's talked about higher beef costs and papa john's yesterday talked about higher cheese costs. when restaurants start talking about it, they pay wholesale prices. >> exactly the question is, whether they have pricing power to pass that on to their consumers? some of them and some do not. mary? >> amongst the last three major indices to fall into the red following those comments. we're off the lows of the session, however, still the markets feeling a little weak despite the good news on the jobless claims today. and let's take a look at some of the groups leading the nasdaq lower today. semiconductors among the weakest group. investors are finding a safe haven in some of these big-name tech stocks. facebook, apple and microsoft, who are all trading to the upside today and amongst the strongest gainers in the nasdaq 1000. as investor move money into these safer names, they're selling other na
CNBC
Oct 16, 2012 1:00pm EDT
china are both creating uncertainty among clients and thus making it difficult for the firm to forecast the next few quarters. shares down on that news down about 3%. sue, over to you. >> all right. let's check out the bond market. we do have a significant rally in the dow jones industrial average. all the major indices. is that taking the steam out of the bond market? >> it is, but not a lot. as a matter of fact, if you look at a 24 hour chart of ten, really the biggest detector was the potential for a line credit by spain. and that indeed pushed rates up about 7:30 eastern. but we see rates have climbed, as well, not breaking that initial range. if you look at the euro currency, you can clearly see that was the delivery mechanism for really way bunds and treasuries are behaving. but it doesn't end there. let's look at the flip side. year to date of the dollar index reveals that the dollar continues to technically suffer as it distances itself from that very significant 80 level and looks like we're breaking to the down side in a similar fashion. another all-time high for the
CNBC
Jun 20, 2014 1:00pm EDT
brazil, the largest producer of arabica beans has jumped. one analyst say demand in china is growing. more are switching from tea to coffee. starbucks next week will raise prices on some drinks for the first time in a year. >> i was doing five times a week, but cut it down to three. >> why is that? >> just saves money. >> coffee prices changing is not affecting my. >> i'm not going to cut back on it as long as it's good. >> need it, gets me going all day. >> what's the alternative? >> what is it? well, you know, red bull starbucks will raise prices 8% on its packening aed coffee to bring prices back up. bernstein says the latest nielsen numbers shows starbucks is losing a little share on packaged coffee on store shelves. >>> thank you, jane. >>> that's it for "power lunch." thank you, simon. >>> "street signs" is next. >>> indeed it is. coming up, humanitarian crisis prompting very serious calls for immigration reform. we'll dale bite. >>> we thought it could never happen, but why america has reached the peak of all you can eat. >>> and guns and goals. more after this break. in a wor
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