Shares of French luxury goods makers, including LVMH and Hermes, dropped in European trading on Tuesday after President Donald Trump’s administration said it may place heavy tariffs on several goods. LVMH – which includes the brands Louis Vuitton and Hennessy – and Hermes each fell more than 2% following the announcement. “Once again, key French consumer/agricultural brands have been targeted including cheese and champagne,” Cowen said. Verallia, the glass bottle maker for Dom Perignon and other

Cyber Monday shoppers spent a record $9.4 billion online, up 19.7% from a year ago, according to data released by Adobe Analytics. Between 10 p.m. and 2 a.m., consumers spent $2.9 billion online — nearly a third of the day’s total revenue. Retailers with more than $1 billion in annual revenue saw online sales jump 540% compared to an average day, Adobe said. Adobe is forecasting that online sales for the entire holiday season will hit $143.8 billion. Online shopping on Black Friday hit a record

In case fears that last December will repeat itself become a reality, CNBC screened for the best places to hide out when volatility spikes. CNBC also used Kensho to screen which sectors perform the best when the VIX jumps five or more points. Consumer staples, utilities and healthcare are the best sectors to hide out in, with the highest likelihood of beating the market. Consumer staples on average drop 1.54% and trade positive 39% of the time after the VIX spikes five points. Utilities usually

Piper Jaffray increased its price target on Tesla’s stock to $423 a share, saying that “for all its controversy and volatility, we think TSLA is a must-own stock” in the auto sector. Tesla shares were largely unchanged Tuesday. Piper’s new 12-month price target, up from $372 a share, represents a 26% climb from Tesla’s previous close of $334.87 a share. While Tesla’s stock is nearly flat for 2019, that’s after the stock rallied nearly 50% in the past three months. But Piper says it’s difficult ”

Citi has a new Netflix analyst and he’s joining the minority of Wall Street analysts that are cautious on the stock. The firm transferred coverage of Netflix to analyst Jason Bazinet. But Wall Street forecasts now on Netflix “deviate” from this long-term pattern. The new Netflix analyst therefore said either Netflix needs to spend even more on content or subscriber estimates need to fall on Wall Street. If they spend up on content, it will hurt margins and cause the stock to drop by 15%, he calc

Needham’s Laura Martin raised her price target on the stock and said Roku would be the “winning aggregator” of TV and films. The stock rebounded in the premarket on Martin’s call after plunging 15% on Monday following a downgrade by Morgan Stanley. “In 2020, Roku’s key upside valuation driver will be accelerating subscription SVOD revenues, which lowers investment risk, we believe. In the US, we believe YouTube is the winning aggregator of user-generated videos and Roku will be the winning aggre

Waiting until after the 2020 election to strike a China trade deal takes away some of Beijing’s leverage, Commerce Secretary Wilbur Ross said Tuesday. “That takes off the table something that they may think gives them some leverage,” he told CNBC’s “Squawk on the Street.” Ross’ comments reinforce earlier remarks from President Donald Trump that contributed to major U.S. stock indexes tumbling more than 1%. The president said that, “in some ways, I like the idea of waiting until after the electio

Peloton holiday ad. YouTubePeloton, the maker of high-end at-home fitness equipment, is getting criticized for a new holiday ad that implores viewers to “give the gift of Peloton.” But the flap probably won’t hurt the company, despite some onlookers complaining about what they saw as undertones of sexism and classism in the ad. The woman in the ad remarks she didn’t realize “how much this would change [her].” The ad has 15- and 30-second versions running across networks including Fox, NBC and ES

The Chilean government announced plans on Monday to roll out a $5.5 billion economic recovery plan and issue more debt in foreign currencies after rioting and protests triggered the worst monthly contraction in a decade. “The violence, the looting and the destruction have halted the economy with enormous costs for Chileans.” Briones said the government will invest $2.4 billion in infrastructure as part of its recovery plan, which also aims to stave off job losses and help small businesses. The I

As of Monday morning, Adobe was calling for Cyber Monday online sales to hit $9.4 billion, climbing 18.9% from 2018. Last year, Cyber Monday sales hit a fresh $7.9 billion. Meanwhile, shopping online on Black Friday hit a record of $5.4 billion, up 22.3% from a year ago, Adobe said. Online sales for the entire holiday season are forecast by the firm to hit $143.7 billion. On Black Friday, Adobe said states that saw over 2 inches of snow recorded an increase of 7% in online sales.

The Huawei logo is seen on the side of the main building at the company’s production campus on April 25, 2019 in Dongguan, near Shenzhen, China. Huawei Technologies plans to shift its research center to Canada from the United States, Ren Zhengfei, the founder of the Chinese telecoms equipment maker, said in an interview with Canada’s Globe and Mail. The U.S. Commerce Department in May placed Huawei on a trade blacklist, citing national security concerns. Huawei was not immediately available to c

The pound sterling excites me, says strategistSim Moh Siong of Bank of Singapore says there’s a good chance for further pound strength after the elections in the U.K. He also discusses the outlook for the Chinese yuan.

U.S. stock index futures were slightly higher on Tuesday. At around 03:40 a.m., Dow futures rose 24 points, indicating a positive open of more than 34 points. Futures on the S&P and Nasdaq were both marginally higher. The South American trade tariffs have rekindled broader concerns about a protracted dispute between the U.S. and China, with investors monitoring the prospect of a limited agreement. The U.S. president has joined other world leaders in the U.K.’s capital city to mark the 70th anniv

This photo taken on June 4, 2019 shows the Chinese flag flying over the Juma mosque in the restored old city area of Kashgar, in China’s western Xinjiang region. China might ban all U.S. diplomatic passport-holders from entering the country’s western Xinjiang autonomous region, Global Times Editor-in-Chief Hu Xijin said on Tuesday. U.N. experts and activists say at least 1 million Uighurs, and members of other largely Muslim minority groups, have been detained in camps in the remote Xinjiang reg

Economic growth in India has slowed down significantly this year — but the third-largest economy in Asia should stage a rebound in 2020 as global conditions are set to improve, according to Goldman Sachs. “As we go into 2020, we think there’s a tentative sense of stabilization in the Indian economy,” Hatzius told CNBC’s “Street Signs Asia” on Tuesday. Goldman Sachs, in a report last week, projected India’s growth to fall to 5.1% this year from roughly 7% annually in 2017 and 2018. An improving g

Phil Schiller, Apple Getty ImagesApple just announced the best apps and games of 2019. Popularity is considered, but these are not just the most downloaded apps, nor the apps that make Apple the most money. Why Apple loves it: “This spectacularly satisfying puzzle-platformer explores the triumph of piercing a life back together after tragic loss.” Apple TV Game of the year: Wonder Boy: The Dragon’s TrapWonder Boy the Dragon’s Trap for Apple TV LizardcubePrice: $3.99 What it is: A platform game f

Voi railway station, part of Kenya’s Chinese-built railway which links the capital Nairobi to the port of Mombasa, pictured on May 31, 2017. The $3.3 billion line sliced hours off the journey from the port city of Mombasa to the capital, Nairobi. These importers used to truck their goods in from the coast. But port authorities now say businesses based in Nairobi and upcountry must use the new line because the Mombasa port is contracted to supply it with a minimum amount of cargo. “KPA has an obl

Pedestrians cross Russell Street in front of the Times Square shopping mall, operated by Wharf (Holdings) Ltd., in the Causeway Bay shopping district of Hong Kong, China. Hong Kong’s tourist arrivals and retail sales figures are unlikely to be any better in November after their dismal showing in October, an economist said on Tuesday. In October, retail sales fell 24.3% from a year ago, according to preliminary Hong Kong government data. Tourist arrivals slumped 43.7% in October from year ago to

Buildings along Victoria Harbor at night in Hong Kong, on April 29, 2019. Law Ka-chung stepped down as chief economist at the Hong Kong unit of a Chinese state-owned bank and has alleged he was forced to do so because he is a native of Hong Kong, the Financial Times reported on Tuesday. Law spent 14 years at the Bank of Communications before being forced to resign in October, the article said. “They don’t think it’s appropriate for a Hong Kong guy to speak on behalf of a Chinese bank,” Law told

Estonian ride-hailing firm Bolt is starting to break even in a majority of the countries it operates in, its CEO has told CNBC. The company is now profitable — or close to being profitable — in two thirds of its markets, Markus Villig said in an interview Monday. By contrast, Uber — which was stripped of its license by the regulator last week — has about 3.5 million users and 45,000 drivers. Like Uber, Bolt remains unprofitable. But Villig said the company has managed to offer lower prices and t