CNN runs through the top stories in business, politics, and technology that are shaping the markets on Monday, February 12th, 2019. CNN Pre-Market Movers: Top News, Stocks, and Market Trends. The U.S-China trade dispute could become even more contentious next week when President Donald Trump attends the annual. In this report. CNN Pre-Market Movers Hadas Gold looks at what investors need to know before the bell rings in New York Monday morning.
Introduction to the CNN Pre-Market Movers:
Interested in the latest news headlines? We’ve got you covered. From the latest market trends to insight into what’s happening in your city, we’re here to keep you up to date on what matters most. Below are some of today’s top CNN Pre-Market Movers movers from around the world.
Economic Data – Employment Report:
The latest CNN Pre-Market Movers economic data released by the Bureau of Labor Statistics showed that 236,000 jobs were added in July. This is a slight improvement over the downwardly revised job growth of 219,000 in June. The unemployment rate dipped to 4.3% from 4.4%. The number of unemployed persons declined by 594,000 to 7.2 million with the labor force participation rate remaining unchanged at 62.7%. Average hourly earnings increased by 0.4% for nonfarm employees in July after a 0.3% increase in June and 2.5% growth in May.(1)
Corporate Earnings:
The top stories this morning from CNN Pre-Market Movers are about corporate earnings. The first story is about Facebook earning $4.7 billion in revenue in the fourth quarter of 2017, up 47% from the same time period last year. Next, Amazon reported a profit of $1.9 billion in the fourth quarter, up from $749 million for the same quarter last year. Apple reported quarterly revenue of $88.3 billion on Tuesday with a net income of $20 billion for its fiscal second quarter of 2018, an 18% increase in revenue over 2017, and a 12% increase in profit compared to 2017.
Alphabet Inc. (GOOGL)
Google’s parent company Alphabet Inc. has seen a 5.9% increase in stock prices this morning with an open at $1,191 per share. The internet giant is currently trading at $1,217 per share as of 9:40 AM EST. As part of the merger between AT&T (T) and Time Warner (TWX), the company recently acquired HBO for about $85 billion dollars, making it one of the most expensive acquisitions ever made. With T+TWX shares up 2.6%, Alphabet shares are also up from last week when they were down 1%.
CNN Pre-Market Movers Housing Market:
The CNN Pre-Market Movers housing market is continuing to recover. Home prices are up across the nation, with a median price of $200,000. While this may not seem like much in some parts of the country, it is a significant increase when considering that just two years ago the median price was only $130,000. More people are looking for homes because they feel more secure about their income and employment status.
The worst home markets are in Detroit where homes are down to the lowest levels on record at an average price of $22,000; Flint at $24,500; Toledo at $25,750; Youngstown at $29,250; Dayton at $29 million and Cleveland at $34 million.
Consumer Sentiment
The CNN Pre-Market Movers Consumer Sentiment index rose to 73.3 in January from 72.8 in December. The jump was fueled by a positive outlook on the economy. In a press release, Lynn Franco of the Conference Board noted that consumers’ assessment of current conditions improved considerably. This month and their expectations for the next six months were also more favorable than they were last month. the reading marks a new cycle high, said Franco. Consumers are feeling better about their jobs, income prospects, and personal finances.
The PMI Manufacturing Index jumped from 50.2 in December to 54.1 in January. The report notes that the increase is due primarily to an increase in production levels as well as higher sales orders received by manufacturers during the period. These numbers show a pickup over recent weeks following some softening near year-end which may suggest economic growth momentum is continuing into 2019.
The PMI Services Index increased modestly from 53.5 to 54.0, says Markit Chief Economist Chris Williamson.
CNN Pre-Market Movers Interest Rates
The CNN Pre-Market Movers Federal Reserve has raised interest rates four times since December 2015. They will most likely raise them one more time this year. This is a sign that the Fed does not want to keep rates at zero for too long. The FED wants to encourage spending and investing by providing better incentives for both consumers and companies. Want to wait until there is evidence of significant inflation or an overheating economy before raising rates again? Central banks in many countries around the world have kept their rates low in recent years. Due to worries about deflation and stagnation. But with economies beginning to grow steadily. It is now appropriate for them to begin removing some of those stimulus measures.
Conclusion
The following are the top news, stocks, and market trends for CNN Pre-Market Movers. The following are the top news items to watch this morning. The Dow Jones Industrial Average is up 0.05% at 25,532.10. The S&P 500 is up 0.02% at 2,876.14 (). The Nasdaq Composite is down 0.03% at 7,805.34. The Nikkei 225 Index is down 1.00% at 22,953.80. The highest-ranked gainers on the Dow Jones Industrial Average include Pfizer Inc (NYSE: PFE). Which is up 4.74%, Nike Inc (NYSE: NKE). Which is up 3.35%, and Walt Disney Company which is up 3.30%.
