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Day: December 3, 2018

Costco downgraded as members-only retailer faces higher sales hurdles

Tougher sales comparisons and food price deflation at Costco will cut into performance in 2019, according to Citigroup, which downgraded the membership-only retailer to neutral on Monday. Citi analyst Kate McShane expects Costco to be a “standout” next year but notes that the retailer faces “challenging comps in the coming months at a time when …

Costco downgraded as members-only retailer faces higher sales hurdlesRead More

U.S. Manufacturing Activity Rebounds in November

The Institute for Supply Management (ISM) manufacturing index rose 1.6 percentage points to 59.3 in November. Markets were expecting a tiny tick down to 57.6 from October’s 57.7 value. With the exception of supplier deliveries, which has declined for two consecutive months, the main subcomponents of the index advanced in the month. New orders rebounded …

U.S. Manufacturing Activity Rebounds in NovemberRead More

USDTRY Outlook: Lira Weakens after Repeated Rejections at 200SMA; Higher Oil Prices and Overextended Studies add to Negative Outlook

The USDTRY ticked higher on Monday and probes through falling 10SMA (5.2644), after the downtrend was rejected above 200SMA (5.1216) for the third straight day. Lira was weaker on risk appetite after US/China tariff ceasefire agreement that pushed the dollar higher, as well as overextended daily studies which signal correction. Higher oil prices and high …

USDTRY Outlook: Lira Weakens after Repeated Rejections at 200SMA; Higher Oil Prices and Overextended Studies add to Negative OutlookRead More

US factory activity jumps in November while construction spending falls for third month

U.S. manufacturing activity rose more than anticipated in November but construction spending was worse than expected, falling for the third straight month. The ISM manufacturing PMI index hit 59.3 in November, better than the 57.8 expected by economists polled by Refinitiv. The result was up from October’s reading of 57.7. The index measures national factory …

US factory activity jumps in November while construction spending falls for third monthRead More

Major Wall Street economists have their doubts trade cease-fire will lead to actual deal in 90 days

Wall Street traders may be exuberant Monday over the decision to pause the trade war between the U.S. and China, but economists across the marketplace aren’t convinced the delay will lead to a permanent solution. It will still be “challenging” to find a compromise that all parties like, Goldman Sachs economist Alec Phillips wrote in …

Major Wall Street economists have their doubts trade cease-fire will lead to actual deal in 90 daysRead More

Mnuchin says Trump ‘liked’ Fed chief Powell’s market-boosting speech

Treasury Secretary Steven Mnuchin told CNBC on Monday that President Donald Trump was pleased with Federal Reserve Chairman Jerome Powell’s speech that eased fears of a more aggressive policy on interest rate hikes. The central bank has already raised rates three times this year, and another hike is expected in December. The target range for …

Mnuchin says Trump ‘liked’ Fed chief Powell’s market-boosting speechRead More

Sentiments Supported by Trade Truce, But Sterling Down on Renewed Brexit Worries

The global financial markets are blessed by strong risk appetite today, as US and China agreed on 90 days ceasefire on trade war. US stock futures point to sharply higher open, following strengthen and European and Asian markets. Australian Dollar, being a close trade partner of both the US and China, and a risk sensitive …

Sentiments Supported by Trade Truce, But Sterling Down on Renewed Brexit WorriesRead More

Mnuchin hopeful that Trump-Xi talks can be turned into a ‘real agreement’

Treasury Secretary Steven Mnuchin expressed optimism about a trade pact with China, telling CNBC on Monday the U.S. has received commitments for concessions on several key issues. “This is the first time that we have a commitment from them that this will be a real agreement,” Mnuchin told CNBC’s “Squawk Box.” “I’m very hopeful we …

Mnuchin hopeful that Trump-Xi talks can be turned into a ‘real agreement’Read More

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