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☆ Fed's favorite inflation gauge looms next week — plus, what we want from 2 portfolio earnings reports
▼ + stars: | 2024-02-24 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

Wall Street returned to its winning ways this week — and Nvidia 's blowout earnings report Wednesday night was a big reason why. Twenty-six of our 32 portfolio stocks have delivered their results this earnings season (we didn't own Abbott Labs at the time of its report). It was a muted week for macroeconomic data, but we did get a slightly better-than-expected January existing home sales report on Thursday. In the week ahead, two more Club names are set to report earnings before a market-moving economic update arrives Thursday morning. The two other reports of note are the January new home sales report on Monday and ISM Manufacturing report on Friday.

Persons: Dow, we'll, bode, We're, Li Auto, Krystal, Arcutis, MARA, Iovance, Goldman Sachs BDC, CRON, BUD, Papa, LEV, Ginkgo, Jim Cramer's, Jim Cramer, Jim, Spencer Platt Organizations: Nvidia, Nasdaq, Dow Jones, Dow, Palo Alto Networks, Bausch Health, Coterra Energy, Abbott, Companies, TJX, Marshalls, TJX Companies, Berkshire Hathaway, Krystal Biotech, Alpha Metallurgical Resources , Inc, Fidelity National Information Services Inc, Animal Health, ELAN, Public Service Enterprise Group, Surgery Partners, BioCryst Pharmaceuticals Inc, Outdoor Holdings, Enlight Renewable Energy Ltd, Kosmos Energy, Playtika, Video Communications, TiRobot Corp, IRB, SBAC Communications Corporation, HEICO Corporation, FS KKR, Archer Aviation Inc, TransMedics, Sterling Construction Company, AES, Cruise Line Holdings, Lowe's Companies, American Electric Power Company, Bank of Nova, APLS Pharmaceuticals, Bank of Montreal, BMO, Devon Energy, Solar Inc, Technologies, Lab, Virgin Galactic Holdings, Splunk Inc, eBay, EBAY, Luminar Technologies, Agilent Technologies, G Foods, Masimo Corp, Baidu, Parts Inc, Icahn Enterprises, Viatris Inc, ACM Research, Golden Ocean Group, EMCOR, Industries, NRG Energy, Dycom, Editas, UWM Holdings Corporation, Vistra Energy, Marathon Digital Holdings, AMC Entertainment Holdings, Paramount Global, IonQ Inc, International, HP, Monster Beverage Corporation, Cronos, Birkenstock Holding, Anheuser, Busch InBev, Body, Brink's Company, Flags Inc, Papa John's, ACI, Hormel, Lion Electric Company, BlackRock TCP, Dole plc, DOLE, Fisker Inc, Dell Technologies, Ginkgo Bioworks Holdings, Autodesk, Green Brick Partners, Hewlett Packard Enterprise, Veeva Systems, INTTEST Corporation, Jim Cramer's Charitable, CNBC, New York Stock Exchange, Getty Locations: New York City, U.S, Salesforce, Maxx, Bank of Nova Scotia, BlackRock, Cayman

BANGKOK (AP) — Shares were mostly higher in Asia after Chinese markets reopened Monday from a long Lunar New Year holiday. Markets will be closed Monday in the United States for President's Day. Elsewhere in Asia, Australia's S&P/ASX 200 edged 0.1% higher to 7,665.10 and the Kospi in Seoul picked up 1.2%, to 2,680.26. It also discouraged bets that a Fed move to relax conditions on the economy and financial markets could come even in May. Higher rates and yields make borrowing more expensive, slowing the economy and hurting prices for investments.

Persons: Hang Seng, Australia's Organizations: President's, Ocean, China Vanke, Dow Jones, Nasdaq, Federal Reserve, New York Mercantile Exchange, Brent, U.S Locations: BANGKOK, Asia, United States, China, Shanghai, Seoul, India

BANGKOK (AP) — Shares fell Tuesday in Asia, with Hong Kong’s benchmark down nearly 2%, as jitters over Chinese markets dimmed confidence across the region. Tokyo’s Nikkei 225 index fell, snapping a New Year’s winning streak that took it to its highest level in 34 years. The dollar weakened against the Japanese yen even as a former central bank official said that the Bank of Japan is preparing to end its longstanding negative interest rate policy. The dollar bought 146.12 yen, up from 145.75 late Monday and at its highest level in more than one month. Traders are largely betting on the Fed cutting its main interest rate six or more times through 2024.

Persons: —, Meituan, Kristalina Georgieva, Kospi, Germany's DAX, It's, Brent Organizations: Dow Jones, Nikkei, Bank of Japan, Federal Reserve, Tencent, China Garden Holding, Ocean, IMF, CNBC, CAC, Traders, Fed, New York Mercantile Exchange Locations: BANGKOK, Asia, U.S, Shanghai, China, Beijing, South, Australia, Paris

Oil prices fell about $1 a barrel after OPEC postponed until next week a meeting to discuss production cuts. The oil cartel has been maintaining a tight market for crude oil with production cuts. It is expected to extend those cuts after oil prices have fallen after a spike in the summer to almost $100 a barrel. Markets in Greater China have been swaying in reaction to moves by Chinese regulators to prop up the ailing property market. A 0.9% drop in oil prices weighed on energy companies.

Persons: Seng, Nordstrom, Swissquote, they’ll, Brent Organizations: Garden, Dow, Nasdaq, . Technology, Microsoft, Google, Broadcom, VMWare, Energy, Exxon Mobil, Halliburton, Nvidia, Department, University of Michigan, Federal, ” Fed, New York Mercantile Exchange, U.S Locations: BANGKOK, Asia, Japan, U.S, Shanghai, Greater China, South Korea, Taiwan, Mumbai, China, Turkey

☆ China puts Country Garden on draft list of builders to support -Bloomberg News
▼ + stars: | 2023-11-22 | by ( ) www.reuters.com time to read: +3 min

The company logo of Chinese developer Country Garden is pictured at the Shanghai Country Garden Center in Shanghai, China August 9, 2023. REUTERS/Aly Song/File Photo Acquire Licensing RightsNov 22 (Reuters) - China has placed debt-laden Country Garden Holdings Co (2007.HK) on a draft list of 50 developers eligible for a range of financing support, Bloomberg reported on Wednesday, citing people familiar with the matter. Country Garden declined to comment. Once China's biggest private property developer, Country Garden missed a coupon payment in October, triggering default terms. It is unclear what specific measures will be taken to support the developers on the draft list.

Persons: Aly, CIFI, Bloomberg, Ting Meng, Nomura, Devika Nair, Xie Yu, Kim Coghill, Clarence Fernandez Organizations: Shanghai Country Garden, REUTERS, Garden Holdings, HK, Bloomberg, Ocean Group, CIFI Holdings, Reuters, Wednesday, Regulators, Country, ANZ Bank China, Thomson Locations: Shanghai, China, Beijing, Bengaluru, Hong Kong

☆ China's troubled property sector to face more debt defaults
▼ + stars: | 2023-10-20 | by ( Xie Yu | ) www.reuters.com time to read: +3 min

HONG KONG, Oct 20 (Reuters) - More debt defaults are likely to emerge in China's property sector as troubled developers struggle with a weak home sales outlook, while fund raising remains challenging, according to credit analysts. Counting October, there is a total of $60.5 billion worth of Chinese property bonds due in the next 6 months, with offshore bonds taking up at least one third of it, according to Dealogic data. The company said it was also prepared to formulate a reasonable debt repayment plan if it fails to repay bonds as they are due. Ricky Tsang, an analyst with S&P Global Ratings, said apart from the weak cash flow from home sales, fund raising for developers, particularly the private ones, remains tight. Reporting by Xie Yu in Hong Kong, Editing by Raju GopalakrishnanOur Standards: The Thomson Reuters Trust Principles.

Persons: Ting Meng, Ricky Tsang, Tsang, Xie Yu, Raju Gopalakrishnan Organizations: HK, Ocean Group, Hong Kong Exchange, Dalian Wanda Group, Bloomberg, ANZ Bank China, Developers, Thomson Locations: HONG KONG, China, State, HK, Hong Kong

☆ Latest China developer debt woes could spur policy aid, but industry downbeat
▼ + stars: | 2023-08-09 | by ( Clare Jim | ) www.reuters.com time to read: +6 min

The company logo of Chinese developer Country Garden is pictured at the Shanghai Country Garden Center in Shanghai, China August 9, 2023. China’s property sector, which accounts for a quarter of the economy, has already seen a string of debt defaults by cash-squeezed developers since late 2021, with China Evergrande Group, the world’s most indebted property developer, at the centre of the crisis. Contagion fears in the market re-surfaced last month when four high-profile developers signalled liquidity stress amid slumping home sales nation-wide. Country Garden declined to comment on the investment bank reports. JP Morgan noted that if Country Garden still defaulted after policies aiming at boosting liquidity for developers, it would show that “there is no guarantee of survival”.

Persons: Aly, Dalian Wanda, Garden’s, ”, “, JP Morgan, Evergrande, ” JP Morgan, ” Morgan Stanley, Stephen Cheung Organizations: Reuters, Shanghai Country Garden, REUTERS, Garden, China Evergrande Group, Group, Greenland Holdings, Dalian Wanda Group, Dalian, HSBC, Communist Party Locations: HONG KONG, Shanghai, China, Greenland

☆ Analysis-Latest China developer debt woes could spur policy aid, but industry downbeat
▼ + stars: | 2023-08-09 | by ( Clare Jim | ) www.reuters.com time to read: +6 min

☆ Analysis: Latest China developer debt woes could spur policy aid, but industry downbeat
▼ + stars: | 2023-08-09 | by ( Clare Jim | ) www.reuters.com time to read: +6 min

[1/2] The company logo of Chinese developer Country Garden is pictured at the Shanghai Country Garden Center in Shanghai, China August 9, 2023. China's property sector, which accounts for a quarter of the economy, has already seen a string of debt defaults by cash-squeezed developers since late 2021, with China Evergrande Group (3333.HK), the world's most indebted property developer, at the centre of the crisis. Contagion fears in the market re-surfaced last month when four high-profile developers signalled liquidity stress amid slumping home sales nation-wide. Country Garden declined to comment on the investment bank reports. JP Morgan noted that if Country Garden still defaulted after policies aiming at boosting liquidity for developers, it would show that "there is no guarantee of survival".

Persons: Aly, HONG KONG, Dalian Wanda, Garden's, JP Morgan, Evergrande, Morgan Stanley, Stephen Cheung, Clare Jim, Kevin Yao, Kim Coghill Organizations: Shanghai Country Garden, REUTERS, HK, Garden, Reuters, China Evergrande, Ocean Group, Greenland Holdings, Dalian Wanda Group, Dalian, HSBC, Communist Party, Thomson Locations: Shanghai, China, HK, Greenland, Beijing

☆ China's property firms rally after Beijing pledges economic support
▼ + stars: | 2023-07-25 | by ( Clare Jim | ) www.reuters.com time to read: +3 min

Its Shanghai-traded bond surged 25% to 38 yuan, while a Shenzhen-traded bond rose 44% to 33.6 yuan. "Most important, (Beijing) sent a signal of further easing property restrictions by dropping the phrase...and mentioning streaming property policies," Nomura chief China economist Ting Lu said. Sino-Ocean Group's onshore bond rose 8.6% to 23.5 yuan in Shanghai. The state-backed firm is currently negotiating with creditors to extend the repayment for the yuan bond due Aug. 2. Nomura's Lu maintained the view that there is no quick fix for the property sector, and that the central government would only marginally ease some existing restrictive measures in large cities.

Persons: Nomura, Ting Lu, Nomura's Lu, Morgan Stanley, Clare Jim, Jason Xue, Sherry Jacob, Phillips, Sam Holmes Organizations: Mainland Properties, CSI, HK, Garden Services, Communist Party, Longfor, Seazen, KWG, Ocean Group, Greenland Holdings, Country Garden, Dalian Wanda Group, Thomson Locations: HONG KONG, Hang, Hong Kong, Shanghai, Shenzhen, Beijing, China

☆ China's property shares rally after Beijing pledges economic support
▼ + stars: | 2023-07-25 | by ( Clare Jim | ) www.reuters.com time to read: +2 min

HONG KONG, July 25 (Reuters) - Shares of China's property developers surged on Tuesday following a sharp selloff in the previous session, after policymakers said they would step up support for the embattled sector. Hong Kong's Hang Seng Mainland Properties Index (.HSMPI) jumped 12%, while Chinese CSI 300 Real Estate (.CSI000952) gained 7%. "Most important, (Beijing) sent a signal of further easing property restrictions by dropping the phrase...and mentioning streaming property policies," Nomura chief China economist Ting Lu said. Lu, however, maintained the view that there is no quick fix for the property sector, and the central government would only marginally ease some existing restrictive measures in large cities. In recent weeks, investors were wary of a deepening debt crisis in the property sector as new signs of trouble emerged among state-backed property developers Sino-Ocean Group (3377.HK) and Greenland Holdings (600606.SS), as well as property giants Country Garden (2007.HK) and Dalian Wanda Group.

Persons: Nomura, Ting Lu, Lu, Morgan Stanley, Clare Jim, Sherry Jacob, Phillips, Sam Holmes Organizations: Mainland Properties, CSI, HK, Longfor, Seazen, KWG, Communist Party, Ocean Group, Greenland Holdings, Country, Dalian Wanda Group, Thomson Locations: HONG KONG, Hang, Hong Kong, China, HK, Beijing

"The major thing that we see now is onshore-traded Country Garden bonds going down," he said. Country Garden is a giant with thousands of projects in nearly 300 Chinese cities. Li Changjiang, the president of Country Garden Services, sold 3.2 million shares of the company last week, reducing his stake to 0.11% from 0.21%. They also cut its price target to HK$0.9 from HK$2.3 and that of Country Garden Services Holdings to HK$6.7 from HK$22. "Distressed Chinese property developers’ bond restructurings can buy them some room," Fitch Ratings said in a report on Monday.

Persons: Longfor, Wanda, Yao Yu, Morgan Stanley, Morgan, Li Changjiang, Fitch, Jason Xue, Tom Westbrook, Clare Jim, Xie Yu, Georgina Lee, Marc Jones, Kim Coghill, Jamie Freed, Barbara Lewis, Christina Fincher Organizations: HK, Dalian, Garden, Country Garden Services, Garden Holdings, Garden Services Holdings, China, Greenland Holdings, Ocean Group, Thomson Locations: SHANGHAI, SYDNEY, China, Hong Kong, Evergrande, Cayman Islands, Shanghai, Sydney, London

☆ Explainer: Dalian Wanda's repayment woes weigh on China property sentiment
▼ + stars: | 2023-07-21 | by ( Clare Jim | ) www.reuters.com time to read: +3 min

HOW MUCH DEBT DOES DALIAN WANDA HAVE? Dalian Wanda Group, owned by China's once-richest man Wang Jianlin, is the country's largest commercial property developer managing many shopping malls, offices and hotels across the country. WHAT IS NEXT FOR DALIAN WANDA? If Wanda Commercial manages this repayment, the next deadline will be a 3.5 billion yuan onshore bond due on July 29. "The extreme volatility in Dalian Wanda's bond prices shows how fearful and emotional the market is at this point."

Persons: DALIAN WANDA, China's, Wang Jianlin, Wanda Commercial, Wanda, Sandra Chow, Scott Murdoch, Jamie Freed Organizations: Dalian Wanda, DALIAN, Dalian Wanda Group, Dalian Wanda Commercial Management, Zhuhai, Bloomberg News, Country Garden, HK, Ocean Group, Thomson Locations: HONG KONG, Dalian, Hong Kong, Asia, Pacific, Sydney

☆ China property stocks fall after Evergrande debt revamp plan
▼ + stars: | 2023-03-23 | by ( ) www.reuters.com time to read: +2 min

HONG KONG, March 23 (Reuters) - China Evergrande Group's (3333.HK) long-awaited offshore debt restructuring proposals failed to address investor concerns about the property sector's prospects, sending shares of rival developers lower on Thursday. An index tracking mainland-based property developers (.HSMPI) slipped 1.1% by early morning Hong Kong time, while the broader stock benchmark (.HIS) was flat. Under the debt restructuring plan, Evergrande bondholders were given two main options. "I think its too early to speculate that this could show that the worst is over for Evergrande," he added. Evergrande said on Wednesday that additional financing of 250 billion yuan ($36.55 billion) to 300 billion yuan would be required for its business as it resumes operations over the next three years.

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