17 minutes ago
The concept of a soft landing for the United States is dead, the strategist says
Salman Ahmed, global head of macro and strategic asset allocation at Fidelity International, explains why the US economy is not headed for a “downturn” of any kind.
5 hours ago
European stocks open higher
IG data shows European markets opened higher, with the FTSE 100 up 26 points at 7,473, France’s CAC 40 up 22 points at 7,085, and Germany’s DAX up 53 points at 15,197.
-Jenny Reed
10 hours ago
China’s services activity rebounds slightly in October: Caixin survey
Service sector in China It expanded a little faster In October, according to Caixin services survey.
The PMI came in at 50.4, slightly above September’s reading of 50.2. This indicates a continued rise in service sector business activity, but the reading implies only a marginal rate of growth overall, Caixin wrote.
China’s services sector has remained in expansionary territory for 10 straight months, according to Caixin.
– Lim Hui Ji
12 hours ago
CNBC Pro: Goldman Sachs updates its “Managers’ Cuts” list of top European stocks with significant upside
A potential recession, high levels of inflation and uncertainty over energy markets are just some of the reasons investors are turning away from Europe at the moment – but Goldman Sachs remains positive on a number of stocks in the region.
The investment bank updated its “condemnation list – directors cut” its shares for buy in Europe in October. Note 31, describing it as “a curated list of our most diverse core buying ideas across our European coverage.”
The updated list includes the addition of one major stock.
CNBC Pro subscribers can read more here.
– Amala Balakrishner
12 hours ago
CNBC Pro: Bonds or Stocks? Wall Street shares its preferences — and how to invest
Should an investor move towards bonds or stocks in the near to medium term?
Both markets have been volatile recently, which can make it a difficult choice for traders.
Stocks rose after the US Federal Reserve decided to keep interest rates steady, but Fed Chairman Jerome Powell stressed that the central bank has not begun to consider cutting the interest rate, and will not do so until inflation is under control.
CNBC Pro takes a look at what Wall Street pros are saying.
Subscribers can read more here.
-Weezin Tan
14 hours ago
How large and broad was Thursday’s stock market rally? very.
Ninety percent of the total volume of shares traded on the New York Stock Exchange on Thursday rose in price. It fell less than 10%. On the Nasdaq, trading volume was 82% higher while price was 18% lower.
Advancing stocks outnumbered declining issues by about 9-1 on the NYSE versus about 7-2 on the Nasdaq. The total volume of shares traded in both markets was about 15% higher than the daily average last month.
Seven of the 11 major stock sectors rose more than the S&P 500’s 1.89% gain, led by energy and real estate (both up 3.1%), and financial services (advance 2.4%). Communications services came in the lead (up 0.9%), basic consumer goods (up 1.3%), and health care (up 1.6%).
In addition to the support that stocks received as a result of falling Treasury yields, prices also rose due to the weakness of the dollar. The DXY dollar index fell 0.66% on Thursday.
—Scott Schnepper
