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Asian shares eases from six-month highs on U.S.-China trade uncertainty

Credit: Reuters- Published on November 8, 2019
Asian stocks retreated from six-month highs on Friday on uncertainty over whether and when the United States and China will seal a deal marking a truce in their trade war that has slowed economic growth and roiled markets.
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Credit: The Street
Published on November 5, 2019 -  02:35
Why the Markets Are Hitting All-Time Highs Despite Lackluster Earnings
We're seeing earnings that are less than impressive from major names such as Caterpillar , Alphabet , Boeing , and McDonald's and yet, the major indices are pushing all-time highs. So, why exactly are we seeing a market that doesn't seem to be listening to earnings? Well, Jim Cramer wrote about it over in his Real Money column Tuesday morning. "The meaninglessness of quarters must not be lost on you. On Monday, we had a host of companies whose stocks went nuts despite the fact that as recently as a couple of weeks ago -- or even a few days ago -- they reported widely panned numbers. Take Caterpillar. When CAT reported, it was plum ugly. The great machinery maker cuts its forecast and told a pretty darned negative story about the world. The stock was looking down six to $129 and change at 8:15 a.m. ET -- and there was no sign that it could possibly be bottoming," wrote Cramer. Martin Baccardax, reporter for TheStreet, and Amanda Agati, chief investment strategist at PNC, had some thoughts on the disconnect between the general markets and earnings season. "I mean first and foremost we have low rates from the Federal Reserve and the potential for lower rates further heading into 2020. We have the tax cuts from two years ago that accelerated corporate profits and are still lingering around and the bottom line of a lot of these companies. You have an improving trade backdrop in the way that we're seeing detente between the U.S. and China and perhaps most importantly the U.S. economy is just doing terribly well. It has a run rate of about 2% low inflation, low unemployment. It's really firing on all cylinders. This weakness in manufacturing, but that's related to trade and can turn around very quickly," said Baccardax. Watch the full video for more. Bull Market Fantasy: LIVE TUESDAY & THURSDAY @10:45AM Subscribe to our Youtube Channel for more videos : Listen our latest Podcasts on Soundcloud Catch Up: Today's Top News Videos Below

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