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☆ This wind stock tanked after Trump's win. Analysts now say buy the dip, giving it major upside
▼ + stars: | 2024-11-11 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Shares of Vestas Wind Systems tanked on the news that Donald Trump had won the 2024 presidential election. However, analysts at a number of investment banks have suggested that investors overreacted to fears of a downturn for the sector. And he's not alone — the consensus price target of all analysts covering the stock points to an upside of more than 50%. Vestas shares are also traded in the U.S. with the ticker VWDRY . In addition to the political headwinds, Vestas Wind Systems has also had to contend with the rising cost of materials and labor over the past few quarters.

Persons: Donald Trump, Trump, Donald Trump's, Jacob Pedersen, Pedersen, Joe Biden's, Vestas, Henrik Andersen, John Kim, Gael, Bray, That's Organizations: Vestas, Nasdaq, Deutsche, Gael de, Systems, Deutsche Bank Locations: USA, Danish, U.S, Nasdaq Copenhagen, United States

☆ These 'Trump trades' are on a roll and analysts see more gains ahead
▼ + stars: | 2024-11-10 | by ( Sean Conlon | ) www.cnbc.com time to read: +5 min

Since Trump's win, the market has already seen some major gains. Those sectors in particular had several winners in the rally following Trump's 2016 win , and analysts believe gains may likewise be in store this time around – especially for energy. Defense stocks could also see some gains, according to Barclays analyst David Strauss. That would be above the 14.2% rally the stock saw after Trump's first win from Nov. 7, 2016, until year's end. Among the 15 analysts covering it, 11 have a hold rating, while only two have a strong buy or buy rating.

Persons: Donald Trump's, Wells, Roger Read, David Strauss, Trump, Chris Caso, Trump's, Huntington Ingalls, it's Organizations: Dow Jones Industrial, Energy, Trump, Defense, Barclays, Semiconductor, Wolfe Research, CNBC Pro, ConocoPhillips Locations: industrials, China, Texas

☆ How Reddit Went Mainstream: Google Search Increase, Real Human Users
▼ + stars: | 2024-11-10 | by ( Emily Stewart | ) www.businessinsider.com time to read: +11 min

The search platform is prioritizing Reddit's results. Going public, for Reddit, has entailed becoming a more welcoming place for users as well as for investors, Kessler said. "If you're public and these things come out, I mean, that could start having an impact on your market cap. Just as search engine optimization operations have gotten good at gaming Google, they can likely do it on Reddit, too. It's part social media, part search engine, part just a place for real answers, or as close to real as you're going to get on the internet today.

Persons: Reddit, It's, Steve Huffman, you've, Huffman, John Herrman, Mark Lehmann, Anita Ramaswamy, it's, Marcel Hollerbach, let's, Scott Kessler, isn't, Kessler, Jessica Melton, that's, What's, corporatization, Emily Stewart Organizations: Reddit, New Yorker, Google, Twitter, New York Magazine, Citizens JMP Securities, Meta, Facebook, Third, GameStop, WSB, PayPal, Brands, Business Locations: United States, Seattle

☆ What’s open and closed on Veterans Day 2024
▼ + stars: | 2024-11-10 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +1 min

New York CNN —Veterans Day honors active and former US service members annually on November 11, the anniversary of the end of World War I. Here’s what’s open and closed on Veterans Day 2024. The New York Stock Exchange and Nasdaq will be trading on Veterans Day. Postal servicesUPS will be operating as normal on Veterans Day. Make sure to double-check if your local services are open that day.

Organizations: New, New York CNN, Veterans, Retail, Target, Walmart, Kroger, Costco, Roadhouse, Bank of America, Citibank, Bank, Federal, The New York Stock Exchange, Nasdaq, UPS, Veterans Day, FedEx, FedEx Express Locations: New York, Wells Fargo

WASHINGTON — As a candidate, Donald Trump promised to relieve consumers of high interest rates. Trump repeatedly said during the campaign that he would bring down interest rates without elaborating on how. He has suggested the president should have a say in determining rates set by the Federal Reserve and publicly berated the central bank and its chairman, Jerome Powell, for not lowering rates sooner. Trump has no direct control over the interest rates set by the Federal Reserve, which is determined by a committee that includes seven members appointed to 14-year terms along with five regional Reserve Bank presidents. “There aren’t a lot of policies that the president has at his disposal that can really lower rates,” said McLaughlin.

Persons: Donald Trump, Trump, Jerome Powell, ”, Kent Smetters, “, isn’t, Ralph McLaughlin, McLaughlin, Powell, Xi Jinping, ” Powell, he’s, ” Trump, reappoint Powell, Scott Bessent, Barron’s, Bessent Organizations: WASHINGTON, Federal Reserve, United, University of Pennsylvania Wharton School, Federal, Realtor.com, Reserve Bank, Fed’s, Governors, Twitter, Trump, Chicago Economic, Senate, Republicans, Fed Locations: United States, America, U.S, China

☆ A research boat will scan the seabed to help search for those missing in Spain’s floods
▼ + stars: | 2024-11-09 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Ap-Live-Blog-Byline-Image.Png | The Associated Press | ) www.nbcnews.com time to read: +4 min

A Spanish research vessel that investigates marine ecosystems has been abruptly diverted from its usual task to take on a new job: Helping in the increasingly desperate search for the missing from Spain’s floods. Carrera, 60, is head of the fleet of the research vessels run by the Spanish Institute of Oceanography, a government-funded science center under the umbrella of the Spanish National Research Council. The boat also helped research the impact from the lava flow that reached the sea from the 2021 La Palma volcano eruption in Spain’s Canary Islands. Finding a body at sea, Carrera said, is highly unlikely. Those findings will contribute to initiatives by other Spanish research centers to study Spain’s deadliest floods of the century.

Persons: Pablo Carrera, ” Carrera, Emilio Morenatti, David Ramos, Carrera, CESAR MANSO, “ Organizations: Associated Press, Getty, Spanish Institute of Oceanography, Spanish National Research Council Locations: Spanish, Valencia, Carrera, Alicante, Spain’s, Palma, Canary, AFP, Spain, Valencian, Turis

☆ A real-estate investor explains how he got a 2.75% mortgage amid 7% rates
▼ + stars: | 2024-11-09 | by ( Laila Maidan | ) www.businessinsider.com time to read: +4 min

Michael Hyun used creative financing to buy a home amid high mortgage rates in 2023. A provision in the mortgage contract called the due-on-sale clause makes this approach risky. But they had one advantage: Eileen was a real-estate agent, which qualified her as a real-estate professional under tax law. There, he found wholesalers, middlemen that buy property under contract to sell the contracts and transfer the property to the buyer. So, instead of going into foreclosure, they sold it to Hyun and transferred the mortgage, which had a balance owed of $368,486 at a 2.75% mortgage rate.

Persons: Michael Hyun, —, Eileen, Hyun, homeownership, Pace Organizations: Service, Business Locations: Texas

☆ Bull market revs back up on Trump enthusiasm as traders race to grab small caps, banks and Tesla
▼ + stars: | 2024-11-09 | by ( Michael Santoli | ) www.cnbc.com time to read: +7 min

For one, the market was already in a sturdy uptrend, the S & P ahead by 20% in 2024 by October. Now, the S & P is up 44% in the past 18 months and the P/E is above 22 on more elevated margins. Here's the S & P 500 Value vs Growth relationship since 2014. His call is for investors to fade any near-term rally that takes the S & P above his 6100 "bull case" target for year end. For sure, the S & P 500 is by some measures running a bit hot, pushing above the top end of its two-year bull-market path.

Persons: Donald Trump's, Jay Powell, Trump, Cyclicals, Russell, YTD, Doug Ramsey, we're, reflating, Scott Chronert, Goldman Sachs Organizations: Republican, Trump Trade, Federal, Treasury, financials, Nasdaq, Group, Investment, Trump, Russell, Citi Locations: upending Washington, U.S, year's

☆ Europe's banks brace for tougher competition under Trump 2.0
▼ + stars: | 2024-11-09 | by ( ) www.cnbc.com time to read: +2 min

JPMorgan , Goldman Sachs and Morgan Stanley shares all soared while the STOXX Europe 600 Banks index is down more than 1% for the week. "If U.S. banks get the expected policy support, they could ramp up loan volumes and optimize capital in ways that Europe's banks just can't match right now," Materazzi said. Since early 2010, European banking shares have fallen 10%, while U.S. lenders have more than tripled. The European Central Bank has estimated that euro zone banks' return on equity fluctuates around 5%, against 10% in the U.S., linking it to higher U.S. fee income and legacy non-performing loans with which European banks still grapple. A wave of deregulation should give European banks some leverage to lobby for easing the rules in Europe, which are already more onerous, one banking executive told Reuters.

Persons: Boris Roessler, Donald Trump, Goldman Sachs, Morgan Stanley, David Materazzi, Materazzi, Karin Keller, Sutter, Rachel Reeves, Trump Organizations: Getty, JPMorgan, Galileo, European Central Bank, Trump . Swiss, Reuters, The Locations: Frankfurt, U.S, Britain, Basel, Italy, USA, Europe, The U.S

☆ Voters worldwide are angry about higher prices and keep punishing those in power
▼ + stars: | 2024-11-09 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +6 min

Incumbent governments have been punished in Britain, France, India, Japan, South Korea, and elsewhere. The near-universal shift away from Democrats echoes voters' rejection of incumbent political parties across the world this year. South Africa's African National Congress (ANC) party lost its majority. Similarly, Deutsche Bank's Reid wrote that voters are disappointed by how slowly their lives are improving amid cooler economic growth. He said they don't buy that incumbents can tackle immigration, some incumbent governments have had scandals, and voters have become "much more willing to change their vote from election to election."

Persons: Donald Trump's, Kamala Harris, —, Donald Trump, Biden, Harris, Narendra Modi, Korea's Democrat Party snagged, Jim Reid, Tina Fordham, Louis Perron, Deutsche Bank's Reid Organizations: Service, Democratic, Britain's Labour Party, Conservative Party, Rally, Japan's Liberal Democratic Party, Indian, Korea's Democrat Party, National Congress, ANC, Deutsche Bank, Fed, Bank of England, European Central Bank, CNN, Win, Deutsche Locations: Britain, France, India, Japan, South Korea, London, Tokyo, Seoul, Cape Town, Washington, Gaza, country's, South, Ukraine

It faced a June 2025 deadline to complete the project, according to the federal indictment outlining grand jury charges against Lumumba, Owens and Banks. Lumumba faces five charges, including one count of federal program bribery and another count of money laundering. Banks has been charged with one conspiracy to commit federal program bribery, honest services wire fraud and money laundering, in addition to a count of federal program bribery. At least seven people have pleaded guilty in relation to the scandal. “This indictment is a horrible example of a flawed FBI investigation,” Owens told reporters after he pleaded not guilty Thursday.

Persons: JACKSON, —, “, Chokwe Antar Lumumba, ”, Lumumba, Jody Owens, Owens, Aaron Banks, Angelique Lee, Barbara Gauntt, Banks, Owens ’, Sherik Marve Smith, ” Smith, “ Banks, Jackson, ” Todd Gee, Ward, ” Owens Organizations: Miss, City, Democrat, Department of Housing, Urban, Banks, Jackson City, Clarion, Ledger, USA, Democratic, NBC, Authorities, Federal, Justice Department, FBI, Courthouse, “, Southern, Southern District of, ” Locations: Mississippi’s, Jackson, Hinds, Nashville , Tennessee, Fort Lauderdale , Florida, Owens, U.S, Southern District, Southern District of Mississippi, Africa

☆ Tom Lee says bitcoin could hit six figures before year-end
▼ + stars: | 2024-11-08 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Bitcoin is just getting started after its postelection rally, according to Fundstrat's Tom Lee, and is still on track to hit six figures by the end of the year. "I think because [it's] post-halving and now bitcoin is becoming a lot more relevant ... the regulatory overhang is diminishing — that there's a lot of upside from here." The flagship cryptocurrency climbed to fresh records this week after President-elect Donald Trump' s victory, which was widely anticipated as a bullish catalyst for the crypto industry at large. During Trump's campaign for reelection he promised the crypto industry a more favorable regulatory environment that would include appointing a more crypto-friendly leader to chair the Securities and Exchange Commission. Bitcoin is up 79% this year, compared with the S & P 500's 25% gain.

Persons: Bitcoin, Tom Lee, Donald Trump, It's, Lee, JD Vance, Vivek Ramaswamy, Cantor Fitzgerald, Howard Lutnick, Robert Kennedy Jr, it's, Sen, Elizabeth Warren, Biden, Gary Gensler Organizations: Treasury, Securities and Exchange Commission, SEC

☆ Regional banks are rallying on prospect of reduced financial regulation, says KBW's Chris McGratty
▼ + stars: | 2024-11-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRegional banks are rallying on prospect of reduced financial regulation, says KBW's Chris McGrattyChris McGratty, KBW head of U.S. bank research, joins CNBC's 'Power Lunch' to discuss what's behind the rally in regional bank stocks, how this rally differs from 2016, and more.

Persons: Chris McGratty Chris McGratty

☆ CEOs around the world started talking about Trump's tariffs as soon as he won
▼ + stars: | 2024-11-08 | by ( Polly Thompson | ) www.businessinsider.com time to read: +8 min

It is months before Trump's inauguration, but tariffs are already on the lips of global business leaders. AdvertisementAs soon as Donald Trump won reelection, CEOs worldwide discussed his plans for a new era of global tariffs. AdvertisementOn Wednesday, Oliver Zipse, chairman of BMW, downplayed fears over tariffs during a third-quarter earnings call, citing the company's large US business. Advertisement"Politics is politics," Ikea's CEO, Jesper Brodin, told Business Insider when asked about how Trump's tariffs would affect international business. Soon after Trump's departure from the White House, the two sides ended their dispute and axed the tariffs, but renewed tariffs could lead to issues once again.

Persons: Donald Trump, Ralph Lauren, —, Trump, he'd, John Deere, Trump's, Shinju Aoyama, Aoyama, Shinji Aoyama, YOSHIKAZU, Piyush Gupta, Gupta, Europe Trump, Davidson, Oliver Zipse, Zipse, Maja Hitij, Arne Freundt, Freundt, Jesper Brodin, Guillaume Faury, Faury, OZAN KOSE, Martin Sorrell, Sorrell, Justin Picicci, Ralph Lauren's, Picicci, Timothy Boyle Organizations: BMW, Airbus, Ikea, Service, Biden, Japan's Honda Motors, Honda, Getty, DBS, Mercedes, Volkswagen, Puma, European Union, Boeing, EU, White, North, Columbia, Washington Post Locations: China, Mexico, Europe, AFP

☆ What the Fed’s interest rate cuts mean for your money
▼ + stars: | 2024-11-08 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +7 min

But that doesn’t mean as a result interest rates are now low — or will soon be low. “‘Falling interest rates’ are not the same as ‘low interest rates.’ Interest rates are high and will only decline to ‘not as high’ as … we move into 2025,” said Greg McBride, chief financial analyst at Bankrate. Credit cards: Just before the Fed cut its key rate in September, the average credit card rate was 20.78%, according to Bankrate. Another option: Try transferring your balance to a credit card from a credit union or local bank. Before the Fed’s September rate cut many of those accounts were offering yields between 4.25% and 5.3%, according to those listed on Bankrate.com.

Persons: ”, Greg McBride, Matt Schulz, Chris Diodato, they’re, Freddie Mac, Sam Khater, Freddie Mac’s, ” McBride, Sinead Colton Grant, Colton Grant, “, Don’t, Diodato, you’re, BNY, they’ve Organizations: CNN, Reserve, Bankrate, Fed, LendingTree, Treasury, Savings Locations: Treasuries

☆ Change and uncertainty from a second Trump presidency is a 'really big opportunity' for ANZ: CEO
▼ + stars: | 2024-11-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChange and uncertainty from a second Trump presidency is a 'really big opportunity' for ANZ: CEOShayne Elliott, CEO of ANZ, explains why he believes that the uncertainty and change from a second Trump presidency is a 'good thing' for banks.

Persons: Shayne Elliott Organizations: Trump, ANZ

☆ China's stimulus plans are choking the profitability of its megabanks, analysts say
▼ + stars: | 2024-11-08 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +2 min

A man on a mobile phone walks past a Bank of China Ltd. branch in Guangzhou, Guangdong Province, China, on Thursday, March 27, 2014. China's largest state-owned banks are likely to see their record low profit margins decline even further as Beijing's broader stimulus package comes into play, analysts say. Still, that was 18 basis points lower from the beginning of this year. At the end of June, overall commercial bank margins dropped to 1.54%, a record low, according to official data from the national financial regulatory administration. They see NIM for state-owned banks contracting by 15-25 basis points in 2024, and "mid- to- high single-digit basis points" next year.

Persons: Agricultural Bank of China —, NIM, Karen Wu Organizations: Bank of China Ltd, — Industrial, Commercial Bank of China, China Construction Bank, Bank of China, Agricultural Bank of, Bank of, CNBC, Morningstar Locations: Guangzhou, Guangdong Province, China, China's, Agricultural Bank of China, Bank of China, Beijing

☆ Europe's markets head for mixed open as Trump win settles in; Fed, BoE decisions in focus
▼ + stars: | 2024-11-07 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

European markets are heading for a mixed open as global investors digest Donald Trump's presidential election win and political upheaval in Germany. They also await monetary policy decisions from the U.S. Federal Reserve and Bank of England. Global markets continue to react to Donald Trump's decisive election win, with U.S. stocks rallying Wednesday as Wall Street rejoiced the speedy conclusion of the presidential election. Central banks will be closely watched Thursday, with the Fed and BoE both expected to announce rate cuts. Scholz announced he would bring a vote of confidence to the German parliament on Jan. 15.

Persons: Donald Trump's, Germany's DAX, BoE, Chancellor Olaf Scholz, Christian Lindner, Lindner's, Scholz Organizations: U.S . Federal Reserve, Bank of England, France's CAC, IG, Global, Fed Locations: Germany, Asia, Pacific, U.S

☆ Federal Reserve cuts interest rates by a quarter point
▼ + stars: | 2024-11-07 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

watch nowThe Federal Reserve approved its second consecutive interest rate cut Thursday, moving at a less aggressive pace than before but continuing its efforts to rightsize monetary policy. Among them was an altered view in how it assesses the effort to bring down inflation while supporting the labor market. The statement slightly downgraded the labor market, saying "conditions have generally eased, and the unemployment rate has moved up but remains low." Generally, the labor market has held up well. An acceleration in economic activity under Trump could persuade the Fed to cut rates less, depending on how inflation reacts.

Persons: Michelle Bowman, Jerome Powell, nonfarm, Donald Trump, Trump, Powell, Pace Organizations: Federal Reserve, Federal, Committee, Gross, Atlanta Fed, Trump Locations: Tuesday's

☆ The four best bank stocks to own amid the Trump trade, according to top analyst Graseck
▼ + stars: | 2024-11-07 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com time to read: +2 min

A Donald Trump presidency and Republican-controlled Senate could boost big banks, according to Morgan Stanley analyst Betsy Graseck. The analyst highlighted four big banks investors should look toward: Citigroup, Goldman Sachs , Wells Fargo and Bank of America . The acceleration in capital markets should benefit all the big banks, and Goldman Sachs is set to benefit the most, she noted. Meanwhile, Citigroup is most exposed to tailwinds from higher excess capital levels as a Republican-led government is unlikely to raise current capital requirements. She estimates this will result in an $86 billion jump in current excess capital for the big banks in the firm's coverage.

Persons: Donald Trump, Morgan Stanley, Betsy Graseck, financials, Financials, Graseck, Goldman Sachs, Wells, Goldman Organizations: Republican, Trump, House Republicans, Citigroup, Bank of America Locations: Wells Fargo, Basel

☆ This Trump trade euphoria is likely to fade fast
▼ + stars: | 2024-11-07 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

New York CNN —Wednesday morning, my inbox was flooded with notes from analysts eager to talk about the election’s upside for various sectors. The crypto folks came on especially strong, cheering the success of the candidate who promised them the moon. When the stock market opened in New York, the enthusiasm for these so-called Trump trades went into hyperdrive. Virtually all mainstream economists oppose tariffs on that scale and expect they would cause inflation to rise yet again. “My worst-case scenario is that he’s actually successful with his blanket tariff policies,” Alpert told me.

Persons: CNN Business ’, Dow, Bitcoin, ” Daniel Alpert, “ There’s, Alpert, Art Hogan, Matt Egan, Trump, ” Hogan, “, he’s, ” Alpert, ” Organizations: CNN Business, New York CNN, Trump, Westwood Capital, Riley Wealth Management, Republican Locations: New York, hyperdrive, Washington

☆ Trump trades: Using the 2016 Trump rally stocks as a playbook for what to buy now
▼ + stars: | 2024-11-07 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

Wondering what stocks might do well the rest of this year as America awaits Donald Trump take office for a second time in January? Others were high-beta growth stocks that can ride a broad market rally and benefit from corporate tax rates. Most analysts surveyed by LSEG hold buy ratings, but they expect KeyCorp shares to slide by more than 5% after their rally this year. Between Nov. 7 and the end of that year, KeyCorp shares ran up more than 25%. CarMax is a cyclical stock that should benefit from both deregulation and the rising tide for high-beta stocks.

Persons: Donald Trump, —, Ebrahim Poonawala, financials, Poonawala, Bernstein, Bob Brackett, there's, Citigroup's Andrew Kaplowitz, Kaplowitz, Wednesday's, LSEG, Keycorp, Keith Horowitz, KeyCorp, CarMax Organizations: CNBC, Trump, White, Bank of America, Energy, Dow, Targa Resources, Citigroup Locations: Cleveland

☆ How the Fed's rate cut and this week's election made for record-breaking market rallies
▼ + stars: | 2024-11-07 | by ( Jeff Marks | ) www.cnbc.com time to read: +5 min

Market moves: The stock market tacked on some additional gains after the Federal Reserve on Thursday afternoon cut interest rates by 25 basis points. Bond yields, which move inversely to bond prices, have been on the rise since the Fed cut rates in September. Stick to discipline: The stock market especially liked the idea of a pro-business environment and de-regulation expected in the future Trump administration. It's not surprising to see Wells Fargo down 3% after the Club stock surged more than 13% on Wednesday. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .

Persons: Jim Cramer, Thursday's, Jerome Powell, hasn't, Bond, Donald Trump, Trump, industrials, It's, Wells, Mogan Stanley, Morgan Stanley, Bloomin, Jim Cramer's, Jim Organizations: CNBC, Federal Reserve, Fed, Treasury, Bond, NBC News, Club, DraftKings, Arista Networks, Azon Enterprise, Trade, Baxter International, NRG Energy, Jim Cramer's Charitable Locations: Wells Fargo, Wells

☆ Citi needs a white knight. Donald Trump's second term might provide one.
▼ + stars: | 2024-11-07 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +4 min

AdvertisementDonald Trump's presidential victory and his promise of light regulation could help relieve one of Citi's biggest problems. Wells Fargo analyst Mike Mayo called Trump's win a "regulatory game changer" in a research note. For instance, the OCC has required Citi to submit plans each quarter to ensure they are allocating enough resources to the Transformation effort. AdvertisementSince the July fines, Citi has faced mounting pressure. A few weeks later, Fraser was dogged by questions in an earnings call about the bank's regulatory fate.

Persons: hasn't, Donald Trump's, bode, Jane Fraser, —, Wells, Mike Mayo, Trump, Michael Hsu, Jerome Powell, Stephen Biggar, Sen, Elizabeth Warren, Fraser, Vivek Juneja Organizations: Citi, Service, Wednesday, Federal Reserve, Currency, Trump's, OCC, Economic, of New, Republican, Argus Research Locations: of New York

☆ China October exports record highest jump in 19 months, imports decline more than expected
▼ + stars: | 2024-11-07 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +2 min

China's exports in October rose at their fastest pace in 19 months, sharply beating analysts' estimates, according to data from the country's customs agency on Thursday. Exports rose by 12.7% in October from a year ago in U.S. dollar terms, their highest jump since March 2023, according to LSEG data. Analysts had pegged exports growth at 5.2% year on year in October, according to a Reuters poll. Analysts had forecast a decline of 1.5% in October exports, according to a Reuters poll. The world's second-largest economy has been grappling with weakening domestic consumption and a protracted property crisis, with exports being a rare bright spot.

Persons: Bruce Pang Organizations: Analysts, JLL, CNBC Locations: Qingdao Port, Shandong province, Qingdao, China, Greater China

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