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☆ CNBC Daily Open: Markets overcame a tough first half
▼ + stars: | 2023-07-03 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Sublime first half for stocksPop the champagne: On Friday, U.S. stocks ended in the green for the day, week, quarter and first half of the year. Asia-Pacific markets rose Monday on the back of Wall Street's rally: Japan's Nikkei 225 popped 1.67%, Hong Kong's Hang Seng Index jumped 1.73% and South Korea's Kospi climbed 1.5%. Tesla zooms aheadTesla produced 479,700 vehicles and delivered 466,140 vehicles during the second quarter. The delivery figures are an 83% year-over-year increase that beat Wall Street's expectations. Movements around ChinaU.S. Treasury Secretary Janet Yellen will travel to Beijing this week to meet with senior Chinese officials.

Persons: Kospi, Tesla, Elon, Janet Yellen, Biden, doesn't, Pan Gongsheng, — Organizations: Nikkei, Elon Musk's, China U.S, Treasury, People's Bank of China, Big Tech, UBS Locations: U.S, Asia, Pacific, Wall, China, Beijing

A worker grinds at a workshop of an equipment manufacturing company in Qingzhou Economic Development Zone, East China's Shandong province, March 31, 2023. Asia-Pacific markets are set for a mixed open ahead of a slew of manufacturing activity reports being released around the region. Most notably, China's Caixin manufacturing purchasing managers index will be released today. Private surveys for factory activity in Japan, South Korea, Taiwan and India will be released today as well as Thailand, Indonesia, Malaysia, the Philippines and Vietnam. In Japan, the Nikkei 225 is set to open higher, with the futures contract in Chicago at 33,485, and its counterpart in Osaka at 33,420 against its last close at 33,189.04.

Persons: grinds Organizations: Reuters, Nikkei Locations: East China's Shandong province, Asia, Pacific, Japan, South Korea, Taiwan, India, Thailand, Indonesia, Malaysia, Philippines, Vietnam, Chicago, Osaka

☆ European markets open muted after strong first-half gains
▼ + stars: | 2023-07-03 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +1 min

Traders work in the Frankfurt Stock Exchange, operated by Deutsche Boerse AG, in Frankfurt, GermanyThe pan-European Stoxx 600 index was up 0.2% at the start of trading, with sectors mixed. European stock markets opened muted Monday after closing the first half of the year 8.8% higher. Euro zone inflation fell more than expected for the month of June, down to 5.5%, but core inflation continued to increase. Asia-Pacific markets rose Monday as investors digested a slew of manufacturing activity reports that showed a slump in output from the region. U.S. stock futures were little changed, meanwhile, as traders prepared for the second half of what's also been a stellar year on Wall Street.

Persons: what's Organizations: Frankfurt Stock Exchange, Deutsche Boerse AG, Media, Central, ., Independence Locations: Frankfurt, Germany, Asia, Pacific, U.S

☆ Asia markets fall after Wall Street's banks jump on stress test results
▼ + stars: | 2023-06-30 | by ( Jihye Lee | ) www.cnbc.com time to read: +1 min

Asia-Pacific markets mostly fell on the final trading day of the first half of the year. The Dow Jones Industrial Average rose, lifted by shares of large banks jumping after passing the Federal Reserve's annual stress test. A revised U.S. gross domestic product print also helped lift investor sentiment, alleviating recession fears on Wall Street. Investors will look ahead to the latest data on personal consumption expenditures, the Federal Reserve's favored inflation gauge. Japanese stocks fell as investors digested Tokyo's core consumer price index, which remained at levels above the central bank's target for thirteen straight months.

Organizations: Mitsui OSK Lines, Dow Jones, Federal, Nikkei Locations: Tokyo, Asia, Pacific, South Korea, Australia

☆ CNBC Daily Open: Don't bet against the U.S. economy
▼ + stars: | 2023-06-30 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. China's businesses falterChina's factory activity in June shrank for a third consecutive month, according to data from the National Bureau of Statistics. Successful spaceflight, but shares sinkVirgin Galactic successfully completed its first commercial spaceflight yesterday. Despite the smooth mission, Virgin Galactic shares sank more than 10% yesterday and a further 1.9% in extended training.

Persons: Dow, —, Bob Pisani Organizations: CNBC, Commerce, Dow Jones, Federal, Nikkei, National Bureau of Statistics, Virgin Galactic, Italian Air Force, Kodiak Gas Services, Fidelis Insurance Locations: U.S, Asia, Pacific, China, New Mexico

European stocks were cautiously higher Thursday as investors assessed commentary from leading central bankers on the need to continue the fight against inflation. The pan-European Stoxx 600 nudged 0.3% higher by late morning, with retail stocks adding 1.7% to lead gains while travel and leisure stocks fell 0.4%. A further message from the conference this week has been on market pricing of swift interest rate cuts from the ECB. The Stoxx 600 closed 0.7% higher Wednesday after staging a cautious turnaround from six straight negative sessions on Tuesday. U.S. futures were slightly higher as banks rose after passing the Federal Reserve's annual stress test.

Persons: Christine Lagarde, Andrew Bailey, Jerome Powell, Powell, Lagarde, England's Bailey, Philip Lane, Chipmakers Organizations: CNBC, European Central Bank, Wednesday, Bank of England, Federal, ECB, Journal Locations: Sintra , Portugal, U.S, China, Asia, Pacific

European equity markets climbed on Wednesday after tentatively breaking their losing streak at the end of Tuesday's session. The pan-European Stoxx 600 was up 0.5% in early trade, with construction and material stocks adding 1% to lead gains as all sectors and major bourses advanced. Speaking Tuesday, European Central Bank President Christine Lagarde said inflation was still too high in the euro area and it was too soon to "declare victory" on sticky high prices. ECB Governing Council member Mārtiņš Kazāks told CNBC that markets were mistaken in thinking rates will fall quickly and said he believed "next year is way too early" to think about cuts. He said loosened monetary policy should not come until inflation is "significantly and persistently" below the 2% target.

Persons: Christine Lagarde, Mārtiņš Kazāks Organizations: European Central Bank, ECB, CNBC Locations: Germany, Spain, U.S, Asia, Pacific, Australia, China

☆ Asia markets set for mixed open ahead of Australia inflation figures and China industrial profits
▼ + stars: | 2023-06-28 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Asia-Pacific markets are set for a mixed open as the region awaits May inflation figures out of Australia and China releases its industrial profits for May. In Australia, futures for the S&P/ASX 200 were at 7,095, higher than the index's last close of 7,118.2. Economists polled by Reuters expect the country's inflation rate to ease to 6.1%, compared with the 6.8% recorded in April. Investors will be watching China's year-to-date industrial profits, after factory activity stayed in contraction territory for a second straight month in May. The country's industrial output growth for May came in at 3.5%, slightly lower than the 3.6% expected by economists polled by Reuters.

Organizations: Lonsdale, Boxing, Reuters, Nikkei Locations: Melbourne, Australia, Asia, Pacific, China, Japan, Chicago, Osaka

☆ CNBC Daily Open: Consumers might just prevent a U.S. recession
▼ + stars: | 2023-06-28 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Australia's S&P/ASX 200 added around 1% after May's inflation reading was lower than expected. The fourth industrial revolutionGenerative artificial intelligence isn't hype — it's the "fourth industrial revolution playing out," said Dan Ives, managing director of Wedbush Securities. [PRO] Seth Klarman on marketsLegendary investor Seth Klarman of Baupost Group spoke with CNBC Tuesday in an exclusive interview.

Persons: Australia's, Christine Lagarde, Lagarde, Dan Ives, Ives, Seth Klarman, Klarman Organizations: CNBC, China's Shanghai, HSBC Asset Management, HSBC, Reserve, European Central Bank, Wedbush Securities, Unity, Baupost Locations: U.S, Asia, Pacific

☆ Asia markets mostly set to fall after Wall Street sees tech sell-off
▼ + stars: | 2023-06-27 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

With the Melbourne skyline in the background, a ship sets sail out of the Port of Melbourne on September 14, 2021. Asia-Pacific markets are set to fall after Wall Street saw a tech sell-off Monday, with Tesla tumbling 6% after Goldman Sachs downgraded the electric car maker, citing pricing headwinds. Other tech names like Nvidia, Alphabet and Meta Platforms also lost more than 3% each. In Australia, futures for the S&P/ASX 200 were at 7,052, lower than the index's last close of 7,078.7. Hong Kong's Hang Seng index look set to snap its five day losing streak, with futures at 18,894 compared to the HSI's close of 18,794.13.

Persons: Wall, Goldman Sachs Organizations: Melbourne, Port, Nvidia, Nikkei Locations: Port of Melbourne, Asia, Pacific, Australia, Japan, Chicago, Osaka

☆ Asia markets set for weak open as Wall Street rally fades
▼ + stars: | 2023-06-26 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Asia-Pacific markets are set for a weak open in the final week of June, following U.S. markets which snapped a multi-week winning streak Friday. In an early Monday note, CMC Markets analyst Tina Teng, wrote that "economic concerns took central stage again as recession fears mounted, with spiking rates in both Europe and the US rattling global markets." Over the weekend, Europe also saw a brief rebellion by the Wagner private military group in Russia, and markets are likely to be on edge. In Australia, futures for the S&P/ASX 200 were at 7,043, lower than the index's last close of 7,099.2. Hong Kong's Hang Seng index is also poised to fall, with futures at 18,764 compared to the HSI's close of 18,889.97.

Persons: Tina Teng, Wagner Organizations: CMC, Nikkei Locations: Asia, Pacific, U.S, Europe, Russia, Japan, Chicago, Osaka, Australia, Hong

☆ European markets open tentatively higher after downbeat week
▼ + stars: | 2023-06-26 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: 1 min

The pan-European Stoxx 600 index was up 0.1% at market open, with most sectors trading in tentatively positive territory. Oil and gas stocks led marginal gains with a 0.8% uptick, followed by travel and leisure and mining stocks, which each gained 0.4%. The benchmark index fell over five consecutive sessions last week as it reflected the negative global sentiment. The Bank of England unexpectedly hiked rates by 50 basis points Thursday after inflation figures and wage growth came in hotter than anticipated. The U.S. Federal Reserve, meanwhile, opted for a pause in hiking — although it stressed that more were likely.

Organizations: Banking, Bank of England, U.S . Federal Reserve Locations: Asia, Pacific

☆ CNBC Daily Open: Skimming off the froth
▼ + stars: | 2023-06-26 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Traders work the floor of the New York Stock Exchange in New York City on May 31, 2023. This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. But CNBC found it's more likely because large institutional investors are buying bitcoin as liquidity remains low. [PRO] Markets on an even footingMarkets may have declined last week, but CNBC Pro's Michael Santoli thinks there's still a "favorable underlying market trend."

Persons: Kospi, Wagner Group's, Wagner, Yevgeny Prigozhin, Antony Blinken, Prigozhin, Ian Bremmer, Moody's, it's, Michael Santoli, there's Organizations: New York Stock Exchange, CNBC, Wagner Group, U.S, Eurasia Group, Moody's Investors, BlackRock Locations: New York City, Europe, Asia, Pacific, Russia, Rostov, Moscow, U.S

☆ CNBC Daily Open: Seeking shelter in tech
▼ + stars: | 2023-06-23 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. BOE's supersized surprise hikeThe Bank of England raised interest rates by 50 basis points, bringing rates to 5%. But May's inflation reading for the U.K. was a scorcher: Inflation last month remained unchanged from April, while core inflation actually rose from 6.8% to 7.1% year over year. Yet market strategists from UBS and JPMorgan Chase and are already warning that the stock market may be overvalued.

Persons: BOE's, BOE, Jerome Powell, Martin Gruenberg, JPMorgan Chase Organizations: CNBC, of England, Federal, Nasdaq, Dow Jones Industrial, Nikkei, UBS, JPMorgan Locations: EU, China, Europe, Beijing, Lithuania, Asia, Pacific

☆ Europe stocks open lower to round off gloomy week; Siemens Energy down 30%
▼ + stars: | 2023-06-23 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

The Stoxx 600 index was down 0.2% at 9 a.m. in London, with most sectors in the red. Oil and gas stocks fell 1.9% as oil prices traded lower, and banks dropped 1.6%. A few sectors managed gains, with food and beverage up by 0.65% and health-care stocks 0.9% higher. China's central bank last week lowered lending rates as the economy's much-anticipated post-Covid rebound stutters. Oil prices are on course for a more than 3% drop this week, according to Reuters, pulled down by demand concerns and the economic growth outlook.

Organizations: Siemens Energy, Bank of England, European Central Bank, U.S . Federal, Reuters Locations: London, Asia, Pacific, U.S

Asia-Pacific markets are set for a mixed open as investors look to inflation data out of Japan and Singapore, as well as flash estimates from the au Jibun bank on Japan's manufacturing and services activity. Japan's core inflation rate in May eased slightly to 3.2% year-on-year, lower than April's 3.4% but still above the BOJ's 2% target. In Australia, futures for the S&P/ASX 200 were at 7,145, lower than the index's last close of 7,195.5. Should the losses hold, Australia is on pace for a third-straight day of losses, after seeing its largest one-day fall in June on Thursday. Mainland Chinese markets are closed Friday for a public holiday.

Organizations: Nikkei, Reuters Locations: Asia, Pacific, Japan, Singapore, Chicago, Osaka, Australia

☆ Asia markets set for weaker open after Fed forecasts more rate hikes to deal with inflation
▼ + stars: | 2023-06-22 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

This long exposure picture shows the city's skyline with the Tokyo Tower (C) from Toyosu Gururi Park in Tokyo's Koto district on January 25, 2023. Asia-Pacific markets are set to mostly fall after U.S. Federal Reserve Chairman Jerome Powell forecast more rate hikes this year, saying that "the process of getting back down to 2% has a long way to go." Futures for Australia's S&P/ASX 200 were at 7,274, lower than the index's last close of 7,314.9 and pointing at a second-straight day of losses. Elsewhere, markets in Hong Kong and mainland China, as well as Taiwan are closed for a holiday today. Ether climbed to nearly reach the $1,900 mark, its highest level since June 4.

Persons: Jerome Powell, Powell Organizations: U.S, Federal, Financial Services, Nikkei, Australia's Locations: Tokyo, Tokyo's Koto, Asia, Pacific, Japan, Chicago, Osaka, Hong Kong, China, Taiwan

☆ CNBC Daily Open: Time to rethink the rally?
▼ + stars: | 2023-06-21 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange (NYSE) on June 14, 2023 in New York City. This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Rally haltedU.S. markets closed in the red Tuesday, halting a rally that drove stocks to their highest levels in more than a year. The dinner symbolizes the White House's — and corporate America's — turn to India at a time when U.S.-China ties are fraying.

Persons: Hong, Narendra Modi, Joe Biden, Biden, Tim Cook, Alphabet's Sundar Pichai, Satya Nadella, Raj Subramaniam, Anthony Tan, Alex Hungate, Goldman Sachs, Goldman Organizations: New York Stock Exchange, CNBC, Japan's Nikkei, U.S, House, CYVN Holdings, Reuters Locations: New York City, Asia, Pacific, Hong Kong, India, China, Abu Dhabi, Nio, Singapore

Utilities reversed the Tuesday gains with a 0.9% fall, as media and mining stocks both dropped 0.8%. European markets lost ground at the start of Wednesday trade, after U.K. inflation data came in higher than expected. Annual headline consumer price inflation was 8.7% in May, the same level as April, official statistics showed. In unwelcome news for the Bank of England, core inflation — excluding energy and food — accelerated to 6.5% from 6.2%. Asia-Pacific markets largely fell on Wednesday, mirroring moves on Wall Street as stocks came back from the Juneteenth holiday to trade lower on Tuesday.

Persons: John Leiper, Leiper, CNBC's, Jerome Powell Organizations: Utilities, Bank of England, Titan Asset Management, Monetary, of England, Federal, Financial Locations: London, Asia, Pacific, .

☆ Asia markets set to fall as Wall Street rally cools from last week
▼ + stars: | 2023-06-21 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

Pedestrians cross a street in front of the Tokyo Stock Exchange, operated by Japan Exchange Group, in Tokyo, Japan. Asia-Pacific markets are set to fall Wednesday, mirroring moves on Wall Street as stocks came back from the Juneteenth holiday to trade lower on Tuesday. In Japan, the Nikkei 225 slid 0.42%, leading losses in the region along with the Topix, which fell 0.21%. In Australia, the S&P/ASX 200 fell 0.21%, and if the losses hold, this would break the index's seven-day winning streak. Hong Kong's Hang Seng index also looks set to extend its losses for a third-straight day, with futures at 19,347 compared to the HSI's close of 19,607.08.

Persons: Kazuo Ueda, Kospi Organizations: Tokyo Stock Exchange, Japan Exchange Group, Nikkei Locations: Tokyo, Japan, Asia, Pacific, Australia

Markets fell at the start of the new trading week as investors remained jittery over the economic outlook. The benchmark Stoxx 600 index closed 1% lower Monday, with almost all sectors in negative territory. "In that time, I think investors have really struggled to build any love for the rally. Asia-Pacific markets traded lower as investors digested China's central bank decision to cut its one-year and five-year loan prime rate. U.S. markets were closed for the Juneteenth holiday on Monday, but stock futures ticked lower overnight as investors looked ahead to a shortened week of trading.

Persons: Sunil Krishnan, Krishnan, CNBC's, That's Organizations: European Central Bank, Federal Reserve, Aviva Investors Locations: Asia, Pacific

Asia-Pacific markets are set for a mixed open Tuesday as investors closely watch for China's loan prime rate decision, after its central bank cut some of its key lending rates last week. Markets are widely expecting cuts to its 1-year and 5-year loan prime rates, with economists polled by Reuters expecting a 10-basis point cut and a 15-basis point cut, respectively. Hong Kong's Hang Seng index is expected to start the day largely unchanged, with futures at 19,913 compared to the HSI's close of 19,912.89. In Australia, futures for the S&P/ASX 200 were at 7,281, lower than the index's last close of 7,294.9, after the index closed in the green on Monday, the only one to do so among major Asian benchmarks. The Reserve Bank of Australia will release minutes for its June meeting.

Organizations: Reuters, Reserve Bank of Australia Locations: Asia, Pacific, Australia

Asia-Pacific markets are set to trade higher on Monday, with Japan's markets set to continue reaching 33-year highs. The Nikkei 225 has posted weekly gains for the last 10 weeks, and is set to extend this with a strong open. The futures contract in Chicago stood at 33,810, and its counterpart in Osaka was at 33,700 against its last close at 33,706.08. In contrast, Hong Kong's Hang Seng index looks to start the week lower, after the index saw a strong rally last week. HSI futures stood at 19,988 compared to the HSI's close of 20,040.37.

Persons: Antony Blinken Organizations: Nikkei, U.S Locations: Asia, Pacific, Chicago, Osaka, Australia, Beijing, China

☆ CNBC Daily Open: Fueled by the FOMO momentum
▼ + stars: | 2023-06-19 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Stocks' streak snappedU.S. stocks fell Friday, with the S&P 500 and Nasdaq Composite snapping their six-day winning streak. Asia-Pacific markets mostly dropped Monday as well, with markets in China, Japan and South Korea trading lower. Tesla's self-driving ambitionsElon Musk said the value of Tesla depends on whether it can crack the code to self-driving vehicles.

Persons: Antony Blinken, Qin Gang, Biden, China Goldman Sachs, Elon Musk, Tesla, Bull, Michael Hartnett, Hartnett, it'll Organizations: U.S ., Microsoft, CNBC, Nasdaq, China U.S, Foreign, Qin, Bears, Bank of America Chief Investment Locations: U.S, Issy, France, Asia, Pacific, China, Japan, South Korea, Beijing, Wall

The benchmark Stoxx 600 index was 0.5% lower in early trade, with all sectors declining. European markets fell at the start of the new trading week as investors remained jittery over the economic outlook. Oil and gas stocks slid 0.7% as forward oil contract prices fell. Asia-Pacific markets were also largely lower, although Japan's markets were still hovering near 33-year highs. On the diplomatic front, U.S. Secretary of State Antony Blinken is in Beijing on a diplomatic mission to repair strained ties between the U.S. and China.

Persons: Antony Blinken Organizations: Chemicals, U.S Locations: Asia, Pacific, Beijing, China . U.S

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