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CNBC
Jan 4, 2016 9:00am EST
china. shanghai down 7% on a weak pmi. trading was halted, hong kong and japan each down 3% as well. that's led to some weakness in europe. the worst day for the dax since august. crude oil and gold among the few things working today. the new year for the markets beginning with a worldwide selloff. global growth concerns sparked by data showing chinese manufacturing contracted for the tenth straight month, and contracting at a faster pace. and this ban on insider selling will end in a few days. >> china put in some circuit breakers that remind me of '87 and they didn't know how the circuit breakers would work. they encouraged selling, not discouraged it. the communist party can be late at figuring out what to do. i would not count them out in terms of their ability to manipulate the market back up. one thing is certain of 2015, in the face of bad economic data, the market did not react because the communists propped it. they have abilities to stop selling, including making it criminal prosecution. it could be criminal again to sell. that -- we all know that's true. could be a white
CNBC
Nov 1, 2016 9:00am EDT
week away, china pmi with an upside surprise, futures are slightly positive, europes are slightly in the red and we are watching crude and gasoline on news of the pipeline explosion yesterday in alabama. the first trading day of the month after that red october, more earnings. the election, the jobs number and the fed meeting all on tap for the markets. >> it is one week to go until election day. new polls and investigations are moving the markets every day, including today. we'll have the latest. >>> and a spin-off for kfc and taco bell. yum and yum china begin trading as separate companies this morning. first up, though, a lot for investors to digest into november as we head into the first trading day of the month. a jobs report is coming on friday, the election is next week. all three major indices were in the red for october, posting their worst performance since january, although to be any worse than january would have required a lot more selling, jim. >> look, there's -- there's just a major change underneath. what we saw were a lot of health care companies, big part of the s&p
CNBC
Aug 24, 2015 9:00am EDT
week, that would be a decline of 11 % of the year to date. >> what is china's next move? >> is that what we're waiting for. >> are we waiting for that in new york. that's crazy. the world is crazy. join us tomorrow. we'll talk more about it "squawk on the street" is coming up next. >> stocks up for an risk sell off at the open. the biggest gap down in seven years. good monday morning. i'm carl quintanilla with jim cramer and david faber. this would be one for the record books pushing the s&p into correction territory. europe is down 3% to 5%. china falls 8% overnight. and the ten-year yield down and oil is down almost 4 %. after a week in which the s&p lost more than $1 trillion in market value. and an 8 .5% drop in shanghai last night. wiping out chinese gains for the year. jim, what is the story today? >> i think it is china. what i'd like to do because it's a terrible market. it reads something that is in keeping with that. i sent tim cook an e-mail trying to understand covering apple because that is a crucial part of it. and tim sent me this this morning right before the show. i
CNBC
Jul 27, 2015 9:00am EDT
-week low, oil now below 48. roll back with china falling hard. the biggest drop in eight years. a $40 billion farm pa deal. teva buying allergan and mylan and facebook. it's two price targets ahead of wednesdays earnings. the impact that is having on the nasdaq. first up this major sell-off in china. the s&p and nasdaq each coming a off the worst week since march. jim, you have been fielding questions on twitter all morning long. why the pain? you wrote, because we are china right now sample we are. i mean look i wish which weren't. it was amazing to watch china roll over in the middle of the night and then see our futures unchanged. that's just false. i mean the reason it's false is because there is a link between minerals arc link between oil and us. so we have a lot of companies that i think aren't going to do well with coin going down. more importantly the rest of the world, holly cow, is brazil going to take the product? europe? you need to see europe get stronger, brazil not just kind of go away and look i hate this setup. it's not that i don't like this. i mean we got to get th
CNBC
Mar 22, 2010 9:00am EDT
headline, four rio tinto executives unexpectedly plead guilty to bribery charges in china. keep in mind, china is the biggest consumer of iron ore and rio tinto supplies that. this is as google decides whether or not to stay in china. they're in a big battle with the government over a lot of things, but particularly, censorship over what this provide on their chinese google site. >> two dow components get upgrades. citi gets an upgrade to buy from hold from rochedale. that stock is now doing nothing. boeing also gets upgraded fr ed outperform from underperform. and doing nothing. >> and futures are pointing to a lower open. >> yeah, that's lower all right. >> yeah, that's lower. >> down 50 points on the dow. >> i mean, now, it's not an armageddon-like thing, and a lot of people who hate the bill are talking in armageddon-like terms. yes, it is lower, but it isn't terrible. the big story remains health care, and we start our coverage this morning with chief washington correspondent john harwood. all right, john, the headlines we must know are? >> well, erin, we're really waking up to the
CNBC
Jan 7, 2016 9:00am EST
morning. welcome to "squawk on the street." i'm carl quintanilla with jim cramer and david faber. china down 7% overnight. trading halted as you know fort second time in four days. europe has followed suit and then oil below 33 as a fresh 12-year low. as joe just said. china at the center of the global selloff. further devaluation of the yuan. a halt in chinese trading for the second time this week. that session lasted guys, only 30 minutes. they tried to do this 15-minute circuit break are and then said let's scrap the whole thing. you talked about them holding the line, jim. are they capable of that? >> they obviously don't really know how to handle their own markets. they are playing it by ear. it is very much a work in progress. if we are down 7% tonight, you would, indeed, take out the 2927 lull and be at 2900. it would break the line in the sand. unless they do something, it will be down again. no market can bounce. markets that are down big attract more sellers. you can't get buyers to come in. this is going to sound crazy. i was doing some price changes. you are talking about fi
CNBC
Sep 19, 2014 9:00am EDT
china's e-commerce pricing at $68 a share. gives alibaba a market value about $168 billion surpassing disney, boeing and amazon. it will trade under ticker baba. earlier alibaba's executive chairman jack ma held court outside the big board amid hundreds of members of the press corps on hand for today's big event. later we will bring you our cnbc interview with ma here at post 9:00. we are literally feet away from the post at which it will trade, post 8 over here. where twit other went public almost a year ago. the crowd of press, guys, i heard at least 100 media from china alone. >> well, this is historic. i say it's a rejuvenation in the sense this is the deal -- it's been a long time since people talked about a particular stock which was facebook. this is bigger than twitter, obviously. what is incredible about this deal, we are looking at just the american side. i am shocked at the amount of buying overseas. there is going to be 30 million shares to buy. it's going to be obviously way, it was way oversubscribed. the demand of mutual funds worldwide for this thing is atypical of wha
CNBC
Aug 25, 2015 9:00am EDT
are serging. china's central bank announced it's lowering the bank reserve requirements by.5%. it's the fifth time in nine months they've done this. the question is what are we going to get out of it? >> i thought the more important story than the cuts of rates is that maybe they've stopped the game of trying to prop up individual stocks. the stocks are just not companies that you would -- they're buying sock pickup truck. they're buying web van. and i think what's going on is this may represent a more serious attempt by the chinese communist party to put people to work or something. they could spend their money fixing the sewer systems. maybe they'll start doing serious work to help their economy. >> does that mean today is your chance to get out, to sell your least favorite names? >> yes. i have to tell you, when i see this market, i have to use the old rules. and the old rules i have is that you missed it. you just missed it. you have to wait for it to come back down. you buy stocks up three and four and then people who bought them yesterday are going to hit the bids. that's the
CNBC
Jan 5, 2016 9:00am EST
killed, executed for white collar crimes in the last few years in china. if they decide to make short selling a capital crime, are we going to stop them? look for that. >> hundreds of people. >> are executed. >> hundreds. >> the chinese do not necessarily release -- it's not like amnesty international gets in there and says that's a capital crime, that's not. you're dealing with a country that doesn't want the stock market go below 3,000, the shanghai. you saw what happened in august of last year, the market went down, they came in under 3000 and bid it up. there's trial and error going on in china. that gating thing that circuit breaker, that didn't work. let's try criminal punishment. people think i'm joking. this is the communist government controlling prices. have they -- they control the country. is it so hard to control prices? >> was some discussion this morning that our futures didn't take a dip until europe got started. do you agree? >> i think europe is in a better place. i think europe is okay. i noticed that once again, when oil turned around and went down yesterday, our m
CNBC
Jan 15, 2014 9:00am EST
at least for now. our roadmap begins with a cnbc exclusive. with both apple and china mobile ceos, apple share's rising in early trade on the tech giant's new deal with china mobile. >>> bank of america reporting better-than-expected fourth quarter results. >>> and as new ceo mary barr takes the helm, gm expecting pretax profits to rise modestly this year but margins remain flat until 2015 on the back of news that the automaker will pay its first quarterly dividend in almost six years. >>> and elon musk taking on the government for the proper term for tesla's fixes. >>> first up, though, apple shares rising in the premarket on optimism surrounding the company's deal on china mobile. tim cook saying it will help bolster sales in the biggest smartphone market and china mobile's chairman said the agreement will entail various cooperative ventures and will not be limited to iphones. cnbc spoke exclusively with both executives and here's what tim cook told her about the china mobile deal. >> it's a watershed day for apple. it's a huge announcement. i'm so honored to be doing business w
CNBC
Sep 2, 2015 9:00am EDT
the lows of yesterday. the third worst day of the year for stocks. china managed to have a relatively quiet close. adp pretty decent. ten-year around 2.18. oil, inventories and the storage data suggests another build. the road map goes like this. futures higher after yesterday's sell off. will this continue. apple stock now in the red for 2015. one week away from their event in san francisco. and nfl games go online. netflix says it's sanguine about apple competition. there's that word again. >> we're on track for a green open as they try to rebound from a worst job. ahead of the adp, 190,000 private sector jobs added. that's a bit shy of the consensus. manufacturing, 7,000. it's being called a relatively solid number heading into a print that is historically weak on friday. >> you wouldn't tighten based on these, and i know, i regard the tightening camp as basically of two components. one says let's get it over with and the other says let's get it done. no one is saying the data says to do it. if the data depends on stabilization of the markets, we don't have it. the numbers are beni
CNBC
Oct 16, 2015 9:00am EDT
? >> companies such as yung, wyn. >> alibaba making a multi-billion dollar play for china. >> general electric up 29 cents a share in the third quarter held by demand for jet engines and power turbines. ceo jeff emmeltz said ge performed well. oil and gas revenues down 16. power and water up 1, aviation up 5. >> i like the quarter. plain and simple. when i see 4% organic growth, that's going to be among the highest of the big industrial companies. it's been the best performing industrial so far this year. i think jeff immelt, the transformation is truly happening and it is real. this is obviously conference call, we have the date, we have our reports here. i mentioned that because the goldman sachs hadn't been on that and the stock jumped 7 points after we talked about it on "squawk." >> important to mention. things happen on conference calls that move stocks, no doubt about it. >> this is solid, it's clean and i'll tell you something, i don't have to look through and wait to hear what ge capital says. i'm looking at what ge industrial says and i like what i see. >> right. it's very d
CNBC
Dec 14, 2012 9:00am EST
right. aside from that, we'll take a look at upbeat economic news out of china. the purchasing managers index rising to 50.9 in december. highest level since august. the surge also helped speculation the chinese government will take additional steps to support its economy. of the 15 times china's up 3%, since '09, s&p that day is up 13 times. almost every time. despite the futures today, is it a good omen for the markets here? >> look, there was a dichotomy in that government. there were people who were concerned about inflation. and there were people who said, listen, we're not growing fast enough. they do have a lot of levers. if they want to grow, i still -- i've been a bull on china. if they want to do 9%, 10%, they have the ability to do it. all they have to do is have a gigantic sewer infrastructure program. >> that's true. there's going to be an economic war conference held soon. it's believed the government will start to release growth forecast at that conference and perhaps unveil some further stimulus measures or tip their hat in terms of whether they are considering
CNBC
Jul 29, 2009 9:00am EDT
open following a disappointing durable goods number. and a slide in china overnight. a big one. 5%. that's the shanghai index. >> i think it's dropped since november when everybody was worried it would spread. >> it's a volatile market though. >> it is. the world's second biggest now. europe is definitely doing a little bit better. big story here, microsoft and yahoo! striking a long-awanted deal. microsoft will power yahoo!'s search. that means bing, as it's called, is going to go to a whole lot more people. yahoo! is going to run sales for both firms. complicated but important story. david faber will have all the details coming your way. >> the brain understands all. >> the brain does. >> checking those futures for you. down 5.90. fair value needed point, 62. about 40 points on the open on the dow. >> let's get to our market reporters. 5% drop mark referred to. biggest percentage drop since november. people were worried about profits. i believe that market is trading around 35 times profit. maybe people got a little -- so we'll see exactly what happens there. that is a big story
CNBC
Sep 21, 2015 9:00am EDT
. >> apple hacked in china. this time the app store. apple says it is working to address that problem. >> and as alibaba marks one year as a public company, the final lock up on share selling expires. will the stock see more pressure today? stocks poised to open sharply higher, looking to recoup losses from friday's selloff which did include a 290-point drop on the dow. there continues to be buzz over the fed's decision to stay pat on interest rates. earlier this morning, st. louis fed president jim bullard who didn't have a vote at last week's meeting said he would have dissented, then he said this -- >> i have a message for your friend cramer, the fed cannot permanently raise stock prices. he's one of the great people at looking at businesses, how good is this business, what's the profitability of the business, what's this thing worth. and, you know to have him cheerleading for low rates 24 hours a day is, i think, unsavory. >> also said a number of other things, guys. larry somers should know better there will remain accommodation after a hike. you had a bit on squawk a few minutes
CNBC
Jan 6, 2016 9:00am EST
china allowing the yuan to weaken as data for december showed the services sector expanded at the sloeft pa slowest pace in 17 months. all of this sending oil down. after china and saudi arabia earlier in the week, the hits keep on kcoming. >> you have to look at south korea, which is more a theoretical blast zone. did well last night. we can ascribe the inability of being able to accurately present thermonuclear war as a factor in our markets. we have never done that. we have two instances of nuclear in the last few years. we know -- we know that fukushima caused the market to decline precipitously. you have a 3% and change. we know that august 24th in 1986, from chernobyl, we had a 4% decline. these are both attempts to try to integrate. i remember trying to short mcdonald's. it did not turn out great. mcdonald's less than a percent. we're also in -- if i can be pop culture for a second. a lot of people are watching an amazon docudrama about the h-bombing of washington. these are the kinds of things -- >> you're referring to "the man in the high castle." >> "man in the high castle." th
CNBC
Aug 11, 2015 9:00am EDT
points on the nervousness on china and what it means for the global markets, et cetera. >> make sure you stay with "squawk on the street" for continued coverage. tyler and scott thank you for being here. >> thanks. >> that does it for us. right now it's time for "squawk on the street." >> good tuesday morning. welcome to "squawk on the street." i'm carl quintanilla with jim cramer, david faber at the new york stock exchange. the market is rattled as china announces the biggest devaluation. benchmark yields around 2.17 as productivity finally gets a positive number and oil back below 44 as opec at a three-year high. google making itself one unit under a new parent called alphabet. we'll explain. >> a surprised evaluation of china's wand sending it to new multiyear lows against the dollar. >> and shake shack, the company beat estimates and boosted guidance. first google creating a new holding company called alphabet which will become the parent of google. the google unit will include youtube, android and ad sense while nest, and google ventures will be the other ventures within al
CNBC
Dec 22, 2016 9:00am EST
lot of titles now. like chief china basher. >> and carl icahn is special advisor on regulatory reform. >> why aren't these people czars? they should be czars. >> right, ebola czar? >> right. that lasted for a couple days. so we make navarro sdczar, you could say he stands for tariffs. so if you're a nike, you look and say, well, navarro's not really the guy we want in there. we're free traders. i'm saying we should be a little more -- we're not seeing any of the downside yet. wow, navarro, that could be bad for business with china, but that's what it is. >> what about apple? >> apple makes a lot of products in china. >> they do? >> some people feel that makes them more immune. >> less susceptible to the chinese trying to exact some sort of retribution if we -- >> right. i keep hearing that to be the deciding point. how many people have you hired in china can immunize. they don't want you flooding the zone with your goods unless they're made there. >> speaking of china, we're going to talk about alibaba by the way when we come back. defending itself after the u.s. put one of the compan
CNBC
Apr 14, 2010 9:00am EDT
rather dramatically. korea reported the biggest drop in unemployment in years and china reportedly is going to report a near 12% increase in gdp. officially, those numbers will be out tomorrow. great numbers today. trade yer ta tradertalk.cnbc.com. mike huckman, how's the nasdaq? >> the nasdaq closed at the highest level since mid-june 2008 yesterday and looks like it will close higher today, thanks in no small part to the blowout earnings to intel, up 4% in premarket. we'll see if the large evidence of a corporate i.t. turn-around will lift all the semiconductor and tech boats today. meanti meantime, apple shares are up more than 1%. the company just announcing it has delivered more than 500,000 ipads so far, but because demand is so strong, the company says it is going to push out, delay the international launch of the product by about one month to around the end of may. sirius, yes, i know this is a dollar stock, but it's up 8% premarket. the company saying it added more than 170,000 new subscribers in the first quarter of this year versus a loss of around 400,000 listeners during
CNBC
Aug 26, 2009 9:00am EDT
china. see aluminum company over there trading down. posted larger than expected loss than expected here. you see demand weak for aluminum prices have been poor at this point. here's what's important. the company came out and said the chinese government have been an active buyer for aluminum through march. that's when all the commodity prices went up. they recognize they have a glut on their hands. the china's cabinet said they would use enhanced management to curb capacity in several industries. oil hit $75 yesterday. fell apart. energy stocks fell apart. a lot of traders talking about a top in energy. finally, william issonoma up 11. on cost cutting they did raise their guidance for the full year. remember, it's still not much in the way of top line growth. tradertalk.cnbc.com. scott, how are we looking at the nasdaq? >> a flat open this morning. most technology stocks are large caps are mixed as microsoft and apple are in negative territory. google, intel, dell and yahoo! are positive premarket. bio pharma space, mariad is up. there's chatter out there that glaxosmithkline is consider
CNBC
Aug 11, 2016 9:00am EDT
. and the second reason is we're just killing it on mobile. 75% of our gnv as well as 75% of the china retail marketplace revenues come from mobile. and this is -- we've come a long way since two years ago when people were concerned about that issue, but today, we have just reported that our monetization of mobile users has exceeded the monetization of the users on pc. overall we had a really great quarter. we also have broken out the core commerce business where we are generating $2.5 billion in operating income and that itself is growing at 38%. >> yep. >> this is not counting the exciting stuff like cloud computing and digital media. so we're very pleased with this quarter. >> as you said. you hit all the highlights. i don't need to come back to them again. mobile monetization if i might as you pointed out there was some question, it's a more robust experience people say when doing it on a pc conceivably. to what do you attribute the ability to get mobile monetization rates higher on mobile or monetization rates higher on mobile than on the pc? sure. just think about a user on a pc,
CNBC
Aug 31, 2015 9:00am EDT
was nothing going on. china wasn't that bad. stanley fischer, i felt was consistent with friday. it was a speech about inflation. and what i really want to point out is that we are down a lot on a lot of stocks. if you revisit last tuesday, almost everything is down. we have to start recognizing the market is pricing in whatever the fed does even though you may hear that only 40% say the fed is going to hike. there's way too many stocks down big. i think we have to start realizing that is this a bull market? it's not clear to me. >> example. you talked about disney being a pivot point. it is the worst component of the month for the dow. >> but it's up 8%. it's one of the better ones. i was going through mid cap. 24 ha 240 stocks are in bear market territory. that's a lot of stocks. i think we all kind of look at certain stocks and say they're okay. dow jones industrial average, at 2.5 yield. the carnage has been incredible, and we keep acting as if -- wait until you see what happens. i take a look at the charts and think, i cannot believe what has happened. particularly if you go ba
CNBC
Sep 21, 2009 9:00am EDT
. it's really all about growth. >> you know we have these huge opportunities in china and india, teaming up with dell will give us great scale in order to capture these opportunities. >> let's see if there's wider reaction as we hit the markets. we're going to cover them here and around the world with our special program. let's start with mary thompson at the stock exchange. >> weaker picture for the futures as commodities and commodity stocks are under pressure today. this is the dollar is moving higher. investors risk adverse. seeking a safe haven in the u.s. currency today. that is helped to push the dollar very close to a two-week high. helped to push commodities like gold, gold now trading under $1,000 an ounce. plus side, it is going to be a busy week for ipos here in the u.s. eight ipos scheduled to list. busiest week since december 2007. this activity is not only here but abroad. metallergical company in china. they are awaiting the decision on fed on wednesday on whether or not the central bank is going to make any mention of any further easing on the stimulus measures. also wor
CNBC
Aug 2, 2017 9:00am EDT
china and they claim they would have done good. >> we didn't get to talk about the latest news about potential trade or actions that will be taken by the administration outside of potentially the wto again this is in the journal in the times today. it doesn't mean they're going to but that could have an impact. >> north korea they took 232 off the table. they took steel off the table. this is more subtle. >> it's about an intellectual property businesses have been complaining for years about how their intellectual proper city stolen by the chinese and copied by the chinese. that the need thes have for u.s. business to open up all of their systems and everything in china so this has been a request to try to figure out a way to better protect them. >> did he talk at all about china and qualcomm >> we talked a bit about it during our interview. >> that was a great interview. >> we did talk about it. >> everybody has to deal with china. qualcomm has a huge business there and i always felt that you have to go in there and really just, either sell coffee or sell kentucky fried chicken not
CNBC
Dec 5, 2016 9:00am EST
begins with a tweet storm from president-elect trump weighing in on trade and china. italian prime minister renzi says he'll step down after losing that key referendum vote. and rbc suggests an espn spin-off could create value for disney. more on that coming up this hour. >>> first up, president-elect sounding off on twitter from everything from china to ta wan to taxes businesses moving from the u.s. to china. did china ask us if it was okay to devalue their currency making it hard for our companies to compete, the u.s. doesn't tax them or to build a massive military complex in the middle of the south china sea? i don't think so. jim, this was the talk of the weekend. >> as it should be. i think that one of the things that's happened is that we're used to a very formal way things are done. first you hear about a call from taiwan. obviously it's not supposed to be taken in the old regime. and then you're supposed to if you do take it minimize it. but this was maximizing it. i think trump is breaking with all sorts of protocols, whether it be state department, whether it be environm
CNBC
Jul 10, 2013 9:00am EDT
disappointing trade data out of china. and bernanke's fed speech later on today. ten-year note, one to watch as mortgage apps down four weeks in a row. and we'll keep our eye on europe. mostly in the red. our road map begins with the markets, rates are rising, but don't tell the bulls, the dow is 109 points from its all-time closing high. >> following in rupert murdoch's footsteps, the tribune company planning to split the broadcasting and publishing business taking the same path as murdoch's news corcor. >>> and coach gets initiated with an outperform. >>> well, the dow in the midst of the first four-session winning streak since the end of april. but stock futures are mixed after a surprise drop in june imports and exports adding to concerns about a slowdown in that country. wall street is bracing for the 2:00 p.m. eastern release from the minutes of last month's fed policy meeting. traders looking for further clues on when the fed might scale back the bond buying. also, ben bernanke scheduled to address an economist conference that will be shortly after the market close. here we are
CNBC
Jul 24, 2015 9:00am EDT
% top line. 18 %. >> china, i know everyone is worried about bridge water. david, maybe when the stock market crashes you drink more coffee because the china acceleration is extraordinary here. we may be all -- i know everyone is worried about china but they're not selling copper at star bucks. they don't sell iron oar at starbucks. they serve coffee. they took over japan. they are doing things with mobile and digital that are making it so the throughput is amazing. the delivery is going to start soon. i love the arc of the quarter, and howard spread the credit all over the place. adam broton is i'd say the single smartest digital mind in the country right now. don't you think that kevin johnson, the noted technologist is doing the call. they're doing premium coffees now. 18 % comp in u.s.? remember when we thought they were out of room in the u.s.? >> how much is just raising prices on people? >> not as much as you think? >> no? >> coffee, coffee is 10%. actually unimportant. what really matters is this notion of day part that every -- i was trying to get from these guys, like e
CNBC
Aug 17, 2015 9:00am EDT
the -- versus japan and china. china's stock market dedoubled from the economy. our stock market controlled maybe by the fed. europe controlled by the low rates of interest on bonds. so people are searching for markets that are natural and organic and not on steroids. >> it occurred to me this morning, there's japan. there's china, the discussion from last week. we're waiting for the bund and the stock bailout. the world is a tough room if you're ex-u.s. >> you're looking for a country to rely on. people talk about india. you hear it's a growth market but it's for a small group of companies. there's an article that said this bull is tired. i think it would say it a little more negative but we are all kind of waiting for something really good to happen. a lot of stocks are up a lot. but nothing breaks well exempt for the u.s. and the more it breaks well, the more we have to hear about fed tightening. i keep hoping that, say, europe comes back, you finish the greek comeback. 770 million people in europe can matter. that's our best hope. >> a lot of discussion about the gdp from las
CNBC
Sep 10, 2015 9:00am EDT
7%. the session before had almost no impact. >> nikkei went lower overnight, china went lower overnight. david tepper, he didn't say he was shorting the market but he did sound kind of negative. he suggested that margins were peaking on wage pressures. suggested that eps estimates were too high. >> and the multiple consumablely a bit higher than he would like to be and the cushion of satan , is not there, so to speak. he said he is not the greatest and doesn't focus on shorting stocks. running a hedge fund, you do do that. he certainly seems to be at least taking more cautious view. i'm not sure what impact that will have. there have been a couple of times in the past where mr. tepper, appearing on "squawk box," has moved the market. >> no doubt about it. >> are you referring to the tepper rally? >> yes, i am. >> in this case, i don't know that we will see a significant down turn. he said, listen, remember the days when we had 15%-20% corrections. this he may not be over. take a listen. >> if we have a 20% correction or a 15% correction, i would buy. i have to see what the wor
CNBC
Feb 16, 2016 9:00am EST
dnf data. china is open after the holiday. europe largely unchanged after draghi says the ecb won't hesitate to act in a crisis. oil is a big story, russia and saudis agree to this production freeze. our road map begins with global volatility continuing. jim mcgoggin. >> and apollo and adt are in a deal. >> and the death of supreme court justice ascalia has creatd a firestorm. >>> first up, stock futures jumping sharply. saudi arabia, russia, qatar and venezuela agreeing to freeze output at january levels provide that other major exporters follow suit. crude prices rose off their highs of the morning. some analysts expected an agreement to cut production. that's not exactly what we're talking about now iran on the tape is saying, maybe, we still want our piece. >> that's going to be the question, iran and iraq as well who is also ramping up production to get money, it's an expensive fight it has on its hands with isis. that's the big caveat that oil producers will agree. before this announcement, brent crude was up as much as 5%. it's still higher. the bulls would say, at least we'r
CNBC
Jan 12, 2016 9:00am EST
. >> starbucks is expanding in china looking to open more than 500 stores despite what is a slowdown in the second largest economy in the world. >>> and lulu getting a boost after strong holiday sales. company raising guidance and they're not the only ones. first up keeping an eye on the explosion in turkey. a bombing in istanbul killing at least 10 people and wounding 15 other. the turkish deputy prime minister says the bomber was a 28-year-old syrian national. we'll stay on top of that developing story. richard engel has been on our air all morning long. >>> futures are higher. european stocks rallying after a stable trading session in shanghai. brent fell to the near 12-year low, bp announcing it's cutting 4,000 jobs in the wake of the slide in crude. some forecasts out there, jim, saying 10, maybe. >> i know people who i feel are chasing the downside. i had rusty brazil on who has been dead right, he said it will be this way longer. he felt this way at 60, 50, 40, 30. the saudis are showing no signs of finishing. howard hamm this morning was saying it is hurting the saudis interest. tha
CNBC
Jul 7, 2015 9:00am EDT
an important analyst at the end of the journal story. who did the china stories? it was brilliant. at the end, did you see who that was? >> yes. >> the hairdresser. >> yes. i did see that. >> that's the shoe shine boy saying i need you to go buy. >> and out ipos that came in. and we discussed yesterday the different moves the chinese government has moved to try to stabilize things. the shanghai down. shenzhen another 5.3% decline. down 40% from june. maybe it's something else that's pressuring copper and oil but that's got to be part of this. >> the lun, there's a lot of currencies, iron oar, gold. people are saying it's not about whether iran is going to export more. it's commodities. >> kmoitdcommodities club in collapse mode. the china market david, when you met with jack ma he talked about expanding into the united states. i've watched this alibaba combination. it looks like it's breaking down. chinese consumer if they got caught up they were up to 1 million accounts a week. it wasn't just a small scale boom. there's a lot of people who are caught. >> there are a lot of people
CNBC
Apr 17, 2015 9:00am EDT
premarket as europe is selling off to the tune of about 2%. china cracking down on margin lending. concerns about greek debt today. earnings back here. ge honeywell, american express among others. oil settling back after a big week to the upside. the ten year is around 1.89. consumer prices this morning largely in line. our road map begins with the markets taking a dive overnight. dow off triple digits as the stock moves overseas. disappointing data weighs on equities in the u.s. >> earnings from ge honeywell and american express have those stocks moving as well as another round of job cuts from schlumberger. >> verizon announcing it's breaking up the cable bundle into smaller bundles. the new tv offer we've got to explain coming up. >>> futures moving lower. taking their cue from declines in europe. here in the states consumer prices up 0.2 due to higher energy cost. the core rate up 0.2. few things working against the bulls. we mentioned that crackdown on margin lending, the back and forth between greece and germany continues. few downgrades today. several revenue misses on larg
CNBC
Jun 24, 2013 9:00am EDT
more about china. >> and brazil. >> if you're saying they've lost control, perhaps it's a different story, that being the fed. >> i think you have to readjust. what would you do if they go to three? if the ten-year goes to three? a lot of stocks that you're in that yielded three. a 3% clorox is not as good as 3% ten year sitting at home trying to prevent risk. that said when you talk about what david's saying we're not in where earning season is yet. alcoa the first. aluminum hits i don't know what kind of low. i felt like saying i'm done with aluminum here. the stuff is -- aluminum foil. >> you can use it again. >> alcoa can't wait. copper at its lowest since july of 2010. >> how about that? >> we have earnings this week, general mills, walgreens. >> someone downgrades walgreens. i like general mills. people keep chattering blackberry about make the number. friday, carl last week, e-kay, one of those weeks at the conclusion of my mad money on friday i sat there. i sat there. i leaned back. if you poured me a mai-tai i would have had tonight the set. it's breath taking to watch tnx,
CNBC
Jan 21, 2016 9:00am EST
are getting wrong is china. >> we have talked about that a number of times during this incredible selloff we have seen in 2016. he did put it to paper and had some assumption s in terms of te gdp, an export-led economy. not of that much importance of our overall gdp and made the point on oil which has been made over and over again by the series of excellent guests they had on "squawk box," including jack lui, the treasury secretary, saying, why is it we are painting this as a one-way story here and oil is suddenly going down is only bad. >> $100 billion saved in terms of the import amount of money that goes overseas. a very good reminder. he made the point that people we export to will get hurt. they are giving up on the reality letting the currency go wherever the heck it is going to go. that could cut gdp but it is still very small. union pacific, urfourth quarter revenues. chemicals, down 7%. pbg did good today but trimming, saving money. agricultural products, down to 12%. air freight, down 14%. coal down 31%. union pacific, china coming east from west. this is not the panama
CNBC
Aug 28, 2015 9:00am EDT
stronger. china did all right. shanghai up 1.8%. shenzhen up, and nikkei at a 3% gain. we were below 2 % at one point on monday in the craziness, but now we're hovering in the 1.2. crude had its best day in many years. well above $40 again. monday, we fell below $40. it has been, to say the least, a volatile week in many markets. let's get to our road map this morning, and it starts with the last trading day of this wild week. the dow coming off its biggest two-day point gain ever, not percentage but point gain. equity futures, slipping. carl icahn has his next target. why commodities? why now? we'll talk about a company we've talked a lot about and mr. akahcarl icahn himself, and the takeover continues. pa perrigo is saying we're not interested. i'll have more on what to expect as the companies battle it out. futures moving to the downside after the strongest two-day rally in the s&p since 2009. that's on a percentage basis. both indices up over 6% over that period. this morning, the s&p, nasdaq, and dow are actually positive for the week. positive for the week. as you were sa
CNBC
Dec 11, 2009 9:00am EST
on down on the floor? >> we did have china industrial production a lot stronger than expected. it helped the global markets move to the upside. we had the november retail sales numbers, mark, also better than expected. so the futures have held up very modest advances, almost flat right now. even though the dollar did weaken late in the morning session. it's been a rough morning for ipos. we had two planned. only one came off. automobile auctioneer car auction services priced way below the price that was expected. then we had another one out there, ellington financial. they didn't even price it. they post toned it citing poor market conditions. hmo giant healthnet did give some guidance for 2010 that was well above expectations. these stocks have been terrific performers ever since trading has begun betting in the beginning of november there would be no public option for the health care reform bill. united k technology, in line with consensus expectations. national had a terrific earnings report well above expectations and the revenue also well above expectations. trader talk.cnbc.
CNBC
Mar 22, 2012 9:00am EDT
germany and france. the road map begins with china, fears of slowdown reignited by the pmi number sending not just stocks lower but commodity to copper. bonds catching a bid on a safety play. mcdonald's ceo jim skinner retiring. fedex expects solid performance to continue this quarter, guidance a little bit disappointing for the street and the latest in the goldman sachs muppet drama. ceo lloyd blankfein ordering a scan of employee e-mails for the word "muppet." he's all over that one. let's take a closer look at the concerns about china's economic momentum and what's at stake for the markets this morning. hsbc purchasing for china showing manufacturing shrinking for a fifth consecutive month. new orders falling to a four-month low, so it seems, jim, we are back at reset to those comments that the bhp executive made a couple days ago in a concern there's going to be a sharp and unexpected slowdown. >> how is this relevantory? we know they've been planning it and hearing about cuts. >> big cuts. >> big interest rate cuts. when we get that we're all going to be joyous about it so i'm unwill
CNBC
Sep 15, 2014 9:00am EDT
ahead to the fed meeting. investors weighing weak data of china. not to mention alibaba, jim, pricing on thursday. we have a lot of land mines in the path. >> i saw a huge amount of high growth selling thursday and friday to get alibaba, the alibaba deal gains momentum. i can't believe they wait until friday to price the thing. that's dumb. price it wednesday night. they have the demand. don't stoke it further. run the possibilities of overheating and that makes it so nobody does well. they have to price wednesday night. it's got to. they ought to just -- putting out the story right now, don't get it ten times oversubscribed. they should price it. now, if you have wednesday night. talk about the market. if you have a wednesday night pricing or thursday pricing, you know, wednesday for thursday pricing, and you have the fed saying something that is like what steve liesman is saying and been saying it every day and getting rid of the word considerable, there's a joke. got rid of a word? did you see they got rid of the word considerable? this week is filled with mine fields. >>
CNBC
May 3, 2016 9:00am EDT
begins with tim cook. he joined jim on "mad money" last night covered everything from innovation to china to revenue to the company's value. global data driving futures. we'll tell you what to expect on wall street today. and shares of aig down in the premarket after earnings. peter hancock will join us live. >>> first up, tim cook defending app apple's latest results and the stock mired in a slump. he was on with "mad money" last night. >> if you talk about macroheadwinds, difficult compares dominant. >> yeah. >> currency, no new iteration yet. if you're going to be opportunistic wouldn't you say let all the hedge funds blow it out and then we'll make a statement? >> well, opportunistic to me means you buy it when you think the company's undervalued. we believe the company's undervalued. >> all right. i got to get your thoughts on what he said and whether it changed your view in any way, whether it should change other people's views. >> i think if you want to take a longer term view, it should change your view. the reason is because the company will not look like it looks now. the compan
CNBC
Aug 26, 2015 9:00am EDT
surging after china's central bank announced they are going to -- a similar jump in futures after china announced a rate cut but that 441 point rally in the midday session was wiped out by the end. the blue chips closing down 205. the s&p has lost 2 trillion in market cap over the past seven sessions. you did not like yesterday's open. do you like this one in. >> i think there will be a better time if you want to buy. i think there have been some bargains created. that's a big difference. i think yesterday is funny. we should have been down one%. yesterday europe was pushing the euro down. interest rates weren't that good. interest rates not that good. we have a couple things i like. schlumberger is the greatest in the oil patch. they're making an acquisition. we've been waiting for consolidation there. the actual individual components of retail that have been strong. i think the last 45 minutes were a access of buyers. my only problem is why isn't there a total absence of buyers again today. china is selling treasuries aggressively. >> why do you think that? >> they sold 100 billion in
CNBC
Oct 8, 2015 9:00am EDT
audiences outside china understand the company. here is executive chairman, jack ma in his letter saying recently signals of china's economic slowdown have triggered widespread concern and overrea around the world. i firmly believe that for the future, the advantages of slowdown in china's economic progress outweigh the disadvantage. they are no longer in need of increasing their numbers but of increasing their quality, jim. he has gone on to talk about something he has mentioned many times in the interviews we have done, which is ecology, which is a huge issue for him and china. this is something when you first read the letter. that's a bit of a mea culpa. this issue of ecology is something i talk a lot about with klaus kleinfeld. china is facing 1 million people dying every kreyear from respiratory illness. it is a lot about the manufacturing business. where i'm confused, china is switching to a service economy. why should that affect as much as the gdp should go to five. i find the note quizzical. i do believe the he can logical concern. they haven't made the numbers. nike made
CNBC
Apr 3, 2017 9:00am EDT
marx brothers fan as well. >> yeah. the president meantime is talking tough about both china and north korea ahead of a u.s. visit by chinese president xi later this week. quote, china has great influence over north korea and china will decide to help us with north korea or they won't. ft asks what's the incentive? and the president responds i think it's the trade, i think it's all about trade. when you talk about currency manipulation, talk about devaluations they're world champions and our country hasn't had a clue. pretty interesting transcript, they definitely give a big play on top of the fold here on the ft. >> i think this is the end of the policy of we continue to appease north korea. let's feed them and hope they go get better, no. let's pressure the chinese because the chinese if you do a pinzer move, then i think the north koreans which are paper tiger other than nuclear weapons which therefore makes them a real tiger i think if the chinese clamp down on north korea it's a win. i don't know, it's in china's interest to clamp down on north korea but everybody is afraid. doesn
CNBC
May 17, 2016 9:00am EDT
is going up that is oil related and that oil really is responsive to china and china goes up, the baltic freight goes up, we like freeport. if freeport doesn't go under then we like the banks. is there not correlated nearly as much as people think, or the gas stations stocks would be higher. >> according to ph.d.s and mathematics hired by -- >> those phonies. >> i thought you were a fan of watson. >> by the guys at citadel or millennium or point 72. >> point 72. >> yeah. they got a lot of them too. >> 38th parallel guys are fabulous. someone the other day was telling me, you know what, in the business of health care and health care mathematics and drug approvals he says he never sees wats watson. i said watson's invisible. he said, no, clients of watson. so you have to go back to ibm and say where are some clients. all i'm saying is the market it's not -- it's acting incorrectly. and if we look at individual companies, a lot of them are doing so much better than the stock market indicates. that's what i'm getting at. and they're being captured by all sorts of different algos that
CNBC
Dec 28, 2016 9:00am EST
, china, where trump has a real free reign to change the u.s. position on things and radically alter the position of obama the last eight years? >> well, i wouldn't say given the entanglements you just mentioned, the allied involvement, russia's involvement, it's not easy to -- you don't have a free hand to do almost anything when it comes to reversing the policies of a previous president. you can change them, but it tends to be complicated. we've certainly seen some feeling that the incoming defense secretary, james mattis, assuming he's confirmed, he's not been a staunch opponent of the iran deal in the past, we don't know. but in other years it's probably easier for the new administration to repudiate, for example, the transpacific partnership, than it would be to repudiate the iran deal. >> we also have secretary john kerry speaking today, right, john? >> yes. he's going to be outlining the united states position on peace in the middle east. it's a bit of an exercise for him. of course he's only going to be in office for three weeks. the peace initiative that he attempted to stri
CNBC
Nov 30, 2012 9:00am EST
people talking about short buy on copper. everyone saying it's about china. a lot of copper comes from scrap and the scrap in the northeast where there's a huge amount of copper, it's extraordinary. a lot of equipment is stalled. >> think of the copper wires here downtown eroded because of exposure to salt water that need to be replaced. >> when i hear the things that have been thrown away, the 500,000 cases of liquor that have been thrown away. all of the mercedes at the dock that have been crunched. salt water. holy cow. >> a story about art studios trying to unload art that's been damaged. >> saline solution could lead to higher sales for ford motor. >> we have four young brands talking about pizza hut down in premarket trade. they expect sales in china to decline in fourth quarter and backing full year guidance below consensus. all downgrading shares of yum this morning. yum has been seating a streak of new highs in the last couple sessions. weakened view for the year and on china but massive run the stock has seen since the end of august or so. >> it took my breath away. i saw the
CNBC
Dec 16, 2016 9:00am EST
starved for top line growth will go to the four. cummins needs top line growth. they have china exposure. we've been saying for years, literally for years, all throughout cnbc saying there's no top-line growth, all buyback. it would have been from f.a.n.g., similar travelers or self-help. this is the first time i'm hearing, listen, top line could be good because of gdp expansion. if we've been waiting for top line and we're going to get it, i can't turn negative. >> that's going to be -- the question is, when evidence of that happens. for example -- >> you don't know. >> -- goldman call on oil. evidence of the cut, they say, will start to show in mid to late january. >> it better because that rate count shows is back to where it was in january. it did a u-turn working its way back. the futures market is indicating oil is not real. the futures market is saying 55 bucks at two years, 57 out five, so don't get too caught up. meantime yesterday the other f.a.n.d., diamondback energy did a remarkable deal at 97. the stock went up 3. gtor is an aggressive company that bought acreage in oklahom
CNBC
Sep 30, 2009 9:00am EDT
being used as plug factor for weakness in home markets. and if china continues to keep its foot on the accelerator, which we think it will, we think oil prices are going to stay sustainably high. schlumberger is going to do very well, relatively well if oil prices are high but steady. if oil prices go up a lot higher, obviously you might want to have more expense sure to enp. but i like schlumberger a lot. i think it's a good proxy for the economy. it's part of what we call the bellwether index of the companies that have the strockest correlation to gdp. i think it's a good bet. >> jason, thanks for joining us today. >> thanks for having me. >> we've got to go. we've got another show coming up. >> okay. >> i don't remember the name. it will be in a second. make sure you join us tomorrow. that's it. "squawk on the street" is next. >>> live from the financial capital of the world, this is "squawk on the street." and we have a special show for you today. i'm erin burnett in washington for you this morning. we're going to covering the u.s./africa summit. china makes new inroads on some
CNBC
Oct 6, 2015 9:00am EDT
china, and glencore was able go up large. took a breather, now the earnings start. it used to be alcoa. today it's pepsico. and if you start with pepsico and look at it, you say, wow, this is a good quarter. p pmc-sierra, positive stuff about dupont. can we continue the round? i don't know. i think we're overdone. >> is this the chance to sell stuff you wish you could have sold at 1870? >> i think there's industrials that have gone up a great deal that went up in part because people said nelson peltz bought ge, we're fine. we have not heard negative news about china lately. china comes back october 8th, nelson peltz did not buy an etf for industrials. he didn't. >> what do you mean? >> ge is not a proxy for him taking a position in all the industrials that rallied. >> not at all. kind of the opposite. >> they made it clear, it's a mispriced security. we will see if that proves to be a correct statement over the next couple of years. i would expect them to own the stock for at least that long. i do wonder. september was just terrible. >> right. >> i got hedge funds, i haven't purs
CNBC
Aug 10, 2015 9:00am EDT
jim cramer and david faber. >> china got the best gain in about five months after a trade data was lousy. bonds are worth watching as w l well. stan fisher saying it's temporary. warren buffett's berkshire hathaway acquiring precision. >> we knew this. nfl deal kind of interesting. >> yes. ahead of earning, reports for tomorrow. al boib. first up berkshire hathaway saying it has agreed to acquire precision cast parts. they say the deal has an enterprise value of 37.02. they say it takes berkshire out of the market when it comes to m&a. >> we'll probably be buying a few small things in the next six months. i mean, we're in negotiations on a couple but in terms of a deal of similar size, it pretty much takes us out. what we'll probably do on this one is we'll probably borrow about 10 billion and use about 23 billion of our cash. >> asked about a lot of different things. ibm, hinted he's been buying more. said kraft unlikely to do a big deal in the next couple of years. >> i thought there was a lot here. i know the three reasons the market is up. china should have been down a lot. the
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