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☆ CNBC Daily Open: Key inflation data looms with rate cuts in focus
▼ + stars: | 2024-02-13 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. China's confidence problemChina's biggest problem is a "lack of confidence," Standard Chartered CEO Bill Winters told CNBC. "External investors lack confidence in China and domestic savers lack confidence," Winters noted. China, Russia threatA new study showed China and Russia are seen as less of a threat to Western populations now than a year ago.

Persons: Dow, Bill Winters, Winters, Antoni Trenchev, Redmond Wong, Saxo, I'm Organizations: CNBC, Nikkei Locations: U.S, China, Russia

☆ Dollar nears 150 yen ahead of US inflation test; bitcoin buoyant
▼ + stars: | 2024-02-13 | by ( ) www.cnbc.com time to read: +4 min

The dollar flirted with the psychological threshold of 150 yen on Tuesday and held broadly steady ahead of a key reading on U.S. inflation due later in the day, while bitcoin hovered around the $50,000 mark for a second day running. The greenback last bought 149.39 yen, edging higher toward the closely-watched 150 level that analysts said would likely trigger further jawboning from Japanese officials in an attempt to support the currency. The projected rise in inflation three years from now dropped to 2.4%, the lowest since March 2020, from December's 2.6%. Analysts said the latest boost to bitcoin comes ahead of its halving event, which will cut the reward for successfully mining a bitcoin block in half. The expectation of rate cuts certainly helps, but it doesn't explain what's really set fire to bitcoin over the past four, five sessions," said IG's Sycamore.

Persons: pare, that's, Tony Sycamore, It's, Kyle Rodda Organizations: greenback, Bank of, IG, Federal Reserve Bank of New, U.S ., New Zealand, U.S, bitcoin Locations: Asia, China, Hong Kong, Bank of Japan, U.S, United States, Federal Reserve Bank of New York, December's, Europe

☆ Nine hours at the most unhinged hole in golf
▼ + stars: | 2024-02-13 | by ( Zak Jason | ) www.businessinsider.com time to read: +12 min

But this was Saturday at the 16th hole of Phoenix’s Waste Management Open, also known as the loudest day at the Loudest Hole in Golf, also known as the Greatest Show on Grass. “We’re so back.”In theory, this was a professional golf tournament, one of the oldest on the PGA Tour. Iwas there as an inevitable result of being in all-male group chat, its own black hole of feral manhood. Few were watching golf; most were huddled in circles many yards from the 16th hole, drinking and people-watching. That’s worth the wait.”Inside our box, golf continued to happen, but if the golfers weren’t teeing off, no one was watching the course.

Persons: seltzer, “ He’s, ”, —, Vuori, Oxford —, there’d, Creed’s, Scott Stapp sauntering, Christian Petersen, Getty “ Scott Stapp, “, Miller, George Bush, Orlando Ramirez, Getty, ” He’d, ctT5HMvIyg, Happy, Thomas Jefferson, MAGA, Him Cook, Ross D, Jesus Christ, Johnny, weren’t teeing, Hey, Potter, hal, Ben Jared, shitshow ” Organizations: Waste, Oxford, PGA, NBC, Alabama, pats, BlackRock, Bulls, WM, SEC, Happy Gilmore Bruins, Mardi Gras, Franklin, Waste Management Locations: Patagonia, Phoenix

☆ Stocks making the biggest moves after hours: Lyft, Robinhood, Airbnb, MGM Resorts and more
▼ + stars: | 2024-02-13 | by ( Hakyung Kim | ) www.cnbc.com time to read: +4 min

The company posted adjusted earnings per share of 18 cents for the fourth quarter, topping analysts' estimates of 8 cents, according to LSEG. Earnings came in above analysts' estimates, while revenue missed expectations. Adjusted earnings before interest, taxes, depreciation and amortization came in at $157 million, which was higher than analysts' estimates of $125 million, per StreetAccount. Revenue of $140 million for the quarter beat analysts' estimates of $135 million. In the fourth quarter, Airbnb reported $2.22 billion in revenue, while analysts predicted $2.17 billion, per LSEG.

Persons: Robinhood, Lyft, GoDaddy, Zillow, amortization, LSEG, Airbnb, Instacart, DaVita, FactSet, Angi, Yun Li, Tanaya Macheel, Darla Mercado Organizations: Revenue, Akamai Technologies, MGM Resorts, IAC, Topgolf Callaway Brands Locations: LSEG, China, U.S, Detroit, FactSet

☆ Stock futures are little changed after Dow suffers worst session since March 2023: Live updates
▼ + stars: | 2024-02-13 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Traders work on the floor at the New York Stock Exchange on Feb. 7, 2024. U.S. stock futures were flat Tuesday night after the Dow Jones Industrial Average posted its biggest decline since March 2023. Futures tied to the Dow slipped 14 points, or 0.04%. S&P 500 futures inched up 0.02%, and Nasdaq 100 futures added 0.07%. During Tuesday's regular session, the 30-stock Dow shed 1.35% for its worst day since March 2023.

Persons: Dow, Airbnb, Dow Jones, Terry Sandven, Sandven, Austan Goolsbee Organizations: New York Stock Exchange, Dow Jones, Nasdaq, Dow, Federal Reserve, CPI, U.S, Bank Wealth Management, Chicago Fed

☆ CNBC Daily Open: Key inflation gauge puts focus on rate cuts
▼ + stars: | 2024-02-13 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. China's confidence problemChina's biggest problem is a "lack of confidence," Standard Chartered CEO Bill Winters told CNBC. China's stock market and deflation issues, coupled with its property troubles are posing a challenge for its growth prospects. "External investors lack confidence in China and domestic savers lack confidence," Winters noted.

Persons: Stocks, Dow, Bill Winters, Winters, Donald Trump's, Antoni Trenchev, Redmond Wong, Saxo, I'm Organizations: CNBC, Trump, NATO Former U.S, NATO, Democratic, Republican Locations: China

Fed officials have indicated they may cut rates at least three times this year, which should allow mortgage rates to decrease. Though mortgage rates aren't directly impacted by the Fed, investor expectations of how Fed changes will impact the overall economy can push mortgage rates up or down. Hopeful homebuyers waiting for lower rates may finally have some luck this summer — though those who wait until next year will likely see even lower rates. See more mortgage rates on Zillow Real Estate on ZillowToday's refinance ratesMortgage type Average rate today This information has been provided by Zillow. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.

Persons: you'll, Fannie Mae Organizations: Federal Reserve, Fed, Zillow, Mortgage, Association, Sky Locations: Chevron

Japan's benchmark Nikkei 225 rose nearly 0.1% to 36,897.42, slipping back from earlier gains that took it briefly to a 34-year high. In prior months, such a report may have hurt the stock market because of concerns that it would mean a longer wait for cuts to interest rates from the Federal Reserve. The latest set of earnings reports from big U.S. companies also kept the stock market mixed overall. It gave a forecast for expected profit across 2024 that fell short of analysts’. In other trading, benchmark U.S. crude lost 6 cents to $76.16 a barrel in electronic trading on the New York Mercantile Exchange.

Persons: Shinichi Uchida, Australia's, ”, Ryan Detrick, Ralph Lauren Organizations: TOKYO, Nikkei, Investors, Bank of Japan, SoftBank Group Corp, Nissan, Dow Jones, Nasdaq, Carson Group, Federal Reserve, Walt Disney Co, Arm Holdings, PayPal, Global, New York Community Bancorp, Traders, New York Mercantile Exchange, Brent, U.S . Locations: U.S, Asia, U.K

☆ Oil to post weekly gain as Israel bombs southern Gaza city after rejecting Hamas ceasefire offer
▼ + stars: | 2024-02-09 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

A picture taken from southern Israel near the border with the Gaza Strip on December 21, 2023, shows smoke billowing following Israeli bombardment in the Palestinian territory amid ongoing battles with the Palestinian Hamas militant group. Oil prices are poised to post a weekly again as hopes for a ceasefire in the Israel-Hamas war appeared to fade. Crude prices inched higher Friday with the West Texas Intermediate contract for March last up 7 cents to trade at $76.29 a barrel. Israel is pressing ahead with its war in Gaza, bombarding the southern city of Rafah on the Egyptian border after Prime Minister Benjamin Netanyahu rejected Hamas' proposed terms for a ceasefire. And the U.S. killed a senior militant leader in a drone strike in Baghdad this week, raising tensions with the government of Iraq, a major oil producer.

Persons: Brent, Benjamin Netanyahu Organizations: Hamas, West Texas Intermediate Locations: Israel, Gaza, Rafah, Baghdad, Iraq

☆ CNBC Daily Open: Banking troubles again roil markets
▼ + stars: | 2024-02-08 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Nikkei ralliesAsia markets mostly rose Thursday, while Japan's Nikkei led gains and hit fresh 34-year highs. Russian oilIndia's energy minister claimed "the world is grateful to India for buying Russian oil," adding the move keeps global crude prices affordable. The country's refiners have been snapping up discounted Russian oil since Moscow's invasion of Ukraine in February 2022.

Persons: China's, VCs, Son's SoftBank, David Gibson Organizations: New York Community Bank, CNBC, Nikkei, Japan's Nikkei, Nasdaq, Dow Jones, Nintendo Analysts, Nintendo Locations: Hicksville , New York, Asia, India, Ukraine

In spite of some fluctuations from day to day or week to week, mortgage rates have overall been holding relatively steady since mid-December. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. 30-year Fixed Mortgage RatesThe average 30-year fixed mortgage rate was 6.63% last week, according to Freddie Mac. 15-year Fixed Mortgage RatesLast week, average 15-year mortgage rates were 5.94%, a two-basis-point decrease from the previous week, according to Freddie Mac data. Once the Fed cuts rates, mortgage rates should fall even further.

Persons: Adriana Kugler, Kugler, you'll, Freddie Mac, it's Organizations: Brookings Institution, Zillow, Federal Reserve Locations: Chevron

Hot economic data pushed mortgage rates back up at the end of last week, and they've inched even higher this week. Mortgage rates aren't directly impacted by Fed rate changes, but investor expectations of how Fed policy decisions will impact the overall economy can push mortgage rates up or down. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. 15-Year Fixed Mortgage RatesAverage 15-year mortgage rates were 5.94% last week, according to Freddie Mac data, which is a two-basis-point decrease from the previous week. Now that the Fed has paused hiking rates, mortgage rates have come down a bit.

Persons: they've, Jerome Powell, Powell, Freddie Mac Organizations: of Labor Statistics, Fed, Zillow, Federal Reserve Locations: Chevron

☆ Oil prices steady on Gaza ceasefire talks even as US plans Middle East strikes
▼ + stars: | 2024-02-05 | by ( ) www.cnbc.com time to read: +2 min

Oil prices stabilized in early Asian trading on Monday after sharp falls last week, amid continued attempts to reach a ceasefire in the Israel-Palestinian conflict even as the U.S. planned new strikes on Iran-backed groups. Brent crude futures inched up 8 cents to $77.41 a barrel by 0131 GMT, while U.S. West Texas Intermediate futures were flat at $72.28 a barrel. However, investors remained wary of any escalation in the Middle East conflict, after the U.S. signaled further strikes on Iran-backed groups in the Middle East in response to a deadly attack on U.S. troops in Jordan. "Oil markets will likely respond by continuing to discount supply disruption risks in the Middle East," he said in a client note on Monday, adding that would likely keep Brent futures below $80 a barrel. Iran exported between 1.2 million and 1.6 million barrels per day of crude oil through most of 2023, representing 1%-1.5% of global oil supply.

Persons: Vivek Dhar, Brent Organizations: Brent, U.S, West Texas, Commonwealth Bank, U.S . Department of Justice, Islamic Revolutionary Guard Corps Locations: Ras Behar, Egypt, Israel, Iran, U.S, Jordan, The U.S, Yemen, China

☆ Stock futures are little changed after S&P 500 and Dow slide from record highs: Live updates
▼ + stars: | 2024-02-05 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

S&P 500 futures also inched down 0.1%, while Nasdaq 100 futures slipped just 0.03%. During Monday's main trading session, the S&P 500 lost 0.32%, pulling back from its record high from last week that was powered by megacap tech stocks. "There's a lot of momentum, but I'm worried about [the S&P 500 at] 20 times earnings, and that the Fed's not going to live up to [rate] cut expectations. And I don't see how we get double-digit earnings growth," Doll said on CNBC's "Closing Bell: Overtime" on Monday. On the economic front Tuesday, Wall Street will be keeping an eye out for the New York Fed's household debt and credit report for the fourth quarter.

Persons: Dow, Jerome Powell, Bob Doll, Doll, — I'm, Loretta Mester, Susan Collins, Eli Lilly, Amgen Organizations: New York Stock Exchange, Federal Reserve, Dow Jones, Nasdaq, Palantir Technologies, NXP, Crossmark, Investments, New, Cleveland Fed, Boston Fed, Boeing, Spirit, DuPont, Grill, Ford Locations: New York

While mortgage rates are expected to go down in 2024, we'll likely experience some volatility getting there. Experts believe mortgage rates will fall as inflation continues to slow and the Federal Reserve is able to start cutting the federal funds rate, removing upward pressure off of mortgage rates. See more mortgage rates on Zillow Real Estate on ZillowMortgage Refinance Rates TodayMortgage type Average rate today This information has been provided by Zillow. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's interest rates will affect your monthly payments. 15-Year Fixed Mortgage RatesAverage 15-year mortgage rates inched down to 5.94% last week, according to Freddie Mac data.

Persons: we'll, Fannie Mae, Mark Palim, you'll, Freddie Mac, it's, they've Organizations: Federal Reserve, Fed, Zillow Locations: Chevron

☆ Stocks making the biggest moves midday: Meta, Apple, Intel, Amazon, Clorox and more
▼ + stars: | 2024-02-02 | by ( Hakyung Kim | ) www.cnbc.com time to read: +4 min

Apple — The iPhone maker's shares inched down 0.3% after Apple provided financial guidance for the current quarter that hinted at weak iPhone sales. Amazon posted $1 in earnings per share on $169.96 billion in revenue, according to LSEG. Analysts polled by LSEG had estimated $8.9 billion in revenue and earnings of $4.18 per share this year. Bristol Myers Squibb — The pharmaceutical stock added 1% after fourth-quarter earnings and revenue at the maker of the Opdivo anti-cancer treatment beat analysts' estimates. ExxonMobil , the largest oil company in the U.S., rose 1% after its fourth-quarter earnings per share topped analysts' estimates.

Persons: LSEG, Cigna, Barbie toymaker, Clorox, —, Alex Harring, Yun Li, Tanaya Macheel, Michelle Fox Organizations: Revenue, Apple, Amazon, Analysts, Bristol Myers Squibb, LSEG . Revenue, Wall, Mattel —, Barington, Mattel, Price, Chevron —, Chevron, LSEG, ExxonMobil, Intel, Street Journal Locations: China, U.S, Ohio

☆ Euro zone inflation eases as expected, but core figures disappoint
▼ + stars: | 2024-02-01 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

Euro zone headline inflation eased slightly in January, flash figures published by the European Union's statistics agency showed on Thursday, while core figures declined less than expected. Inflation stood at 2.9% in December, up from 2.4% in November, largely due to the wind-down of energy price support measures. By sector, services inflation — an important gauge for policymakers due to its link to domestic wage pressures — held steady at 4%. Preliminary figures out earlier this week showed inflation in Germany easing slightly more than had been forecast, reaching 3.1%. "However, core inflation only inched lower, with services especially coming in quite hot.

Persons: Janis, Price, Christine Lagarde, Kamil Kovar, Kovar Organizations: Reuters, Inflation, European Central Bank, ECB, Moody's Locations: Cais, Lisbon, Portugal, Germany

☆ These Apple suppliers have the most to win or lose from the tech giant's upcoming earnings
▼ + stars: | 2024-01-31 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Reverberations from Apple 's earnings report will likely be felt across the hardware sector. A cottage industry of suppliers depends on Apple and the suppliers' stocks have a history of moving in tandem with the big technology name. To find these stocks, CNBC Pro screened FactSet for companies that provide Apple with supplies and have the highest correlation in stock price over a 20-week period. In 2023, the stock climbed nearly 39%, outperforming the broader market while underperforming the technology-heavy Nasdaq Composite . The average price target on the Street implies shares can add more than 4% in the next year.

Persons: Amkor, IXIC, Wall, Apple, —, Nick Wells Organizations: Apple, Investors, CNBC Pro, Nasdaq, Wall, Qualcomm Locations: underperformance

☆ Nasdaq 100 futures slide, Alphabet shares drop after results: Live updates
▼ + stars: | 2024-01-30 | by ( Hakyung Kim | ) www.cnbc.com time to read: +3 min

Futures tied to the tech-heavy Nasdaq 100 fell Tuesday night after a pair of mega-cap tech companies posted their quarterly results. Futures tied to the S&P 500 were down 0.4%, while Dow Jones Industrial Average futures traded near the flatline. In after-hours trading, shares of Alphabet dropped 5.3%, while Microsoft shed 0.3% after the tech giants posted quarterly earnings. The fed funds futures market has priced in a nearly 98% probability that the central bank will leave rates unchanged, according to the CME FedWatch tool. Chipmaker Qualcomm is scheduled to announce its quarterly earnings after the close.

Persons: Sam Stovall, —, Stovall, Dow, Jerome Powell's Organizations: New York Stock Exchange, Nasdaq, Federal, Dow Jones Industrial, Microsoft, Fed, Dow, Boeing, Qualcomm Locations: New York City, U.S

All parts of the vertical launch configuration are authentic components of the shuttle system, including the rust-colored external tank, which was flight-qualified. The external tank arrived by barge and made a similar trip across the city. A groundbreaking ceremony for the Air and Space Center was held in 2022 on the 11th anniversary of Endeavour’s final return from space. The 116-foot-long (35.3-meter-long) rocket motors were trucked to Los Angeles from the Mojave Desert in October and were installed the following month. Atlantis is at Kennedy Space Center, Florida, where it is displayed as if in orbit with its payload doors open and robotic arm extended.

Persons: — NASA's, Samuel Oschin, Steven F Organizations: ANGELES, Space Shuttle Endeavour, Samuel, Samuel Oschin Air, Space Center, California Science Center, Endeavour, Los Angeles International Airport, NASA Boeing, Air and Space, NASA, Shuttle Challenger, Columbia, Atlantis, Enterprise, Kennedy Space Center, National Air, Intrepid Museum Locations: Los Angeles, Exposition Park, Florida, Chantilly , Virginia, New York

☆ Ryanair trims annual profit forecast after travel agents halt sales
▼ + stars: | 2024-01-29 | by ( ) www.cnbc.com time to read: +2 min

Ryanair on Monday trimmed its profit forecast for the year to the end of March after some online travel agents suddenly stopped selling its flights in December, forcing it to cut fares to fill seats as costs per passenger inched up. The airline, Europe's largest by passenger numbers, forecast an after-tax profit of between 1.85 billion and 1.95 billion euros ($2 billion to $2.1 billion) for its financial year to March 31. That is down from its November forecast of 1.85 billion and 2.05 billion euros, but would still beat its previous record of 1.45 billion euros in 2018. Net profit for the three months to the end of December, the third quarter of its financial year, was 15 million euros, significantly lower than the 49 million euros expected by analysts polled by the company. The fallout from the travel agents' move is beginning to "fizzle out," Sorahan said, with several agents approaching the airline to secure new, more transparent deals.

Persons: Neil Sorahan, Sorahan, Michael O'Leary, O'Leary Organizations: Ryanair Holdings, Stansted Airport, Manchester Airport Plc, Ryanair, Boeing Locations: Stansted

☆ Dollar steady in cautious start to busy data, Fed week
▼ + stars: | 2024-01-29 | by ( ) www.cnbc.com time to read: +3 min

U.S. one hundred dollar bills are being shown in this picture illustration taken in Buenos Aires, Argentina, on December 15, 2023. The dollar started the week on a steady footing as investors took stock of U.S. economic data ahead of the Federal Reserve policy meeting this week, while escalating geopolitical tensions in the Middle East kept risk sentiment in check. But since then, strong economic data and pushback from central bankers have prompted traders to adjust expectations. Beyond the Fed, investors will also watch for a slew of economic data including a U.S. payrolls report that will help gauge the strength of labor market. Elsewhere, the Australian dollar rose 0.21% to $0.659, while the New Zealand dollar gained 0.18% to$0.610.

Persons: Marc Chandler, Chandler, Jerome Powell, Paul Mackel, Sterling, Joe Biden, bitcoin Organizations: Federal Reserve, Fed, Federal, HSBC, Bank of England, U.S, New Zealand Locations: Buenos Aires, Argentina, U.S, Bannockburn, Jordan, Syrian, Iran, Israel

☆ Stocks making the biggest moves midday: Dollar Tree, iRobot, Bloom Energy and more
▼ + stars: | 2024-01-29 | by ( Hakyung Kim | ) www.cnbc.com time to read: +3 min

Dollar Tree — Shares of the discount retail chain popped 1% following an upgrade to overweight from neutral at JPMorgan. SoFi Technologies — Shares of the financial services provider surged 21% after the company reported its fourth-quarter financial results. ZoomInfo Technologies — Shares jumped more than 6% after Bank of America upgraded shares to buy from neutral on revenue growth acceleration. The firm cited tailwinds including improving market share and volume trends, as well as an attractive valuation and strong top-line growth. Flywire — Shares of the fintech company gained 3.75% after being upgraded by Morgan Stanley to overweight from equal weight.

Persons: McGrath RentCorp, McGrath, SoFi, iRobot, Koji Ikeda, Wells, Flywire, Morgan Stanley, Beam, —, Samantha Subin, Yun Li, Michelle Fox, Alex Harring, Lisa Kailai Han, Sarah Min, Pia Singh, Tanaya Macheel Organizations: WillScot Mobile, JPMorgan, Wall, Amazon, Bain Capital, Western Digital, Kioxia Holdings, Bloom Energy, Bank of America, ZoomInfo, Hershey —, AllianceBernstein, Warner Bros, —, Beam Locations: Japan, AATD

Though mortgage rates have ticked up a little bit in recent weeks, they're still well below the peaks reached in fall 2023, when 30-year mortgage rates neared 8%. Most major forecasts call for mortgage rates to go down further this year, which should help even more hopeful buyers afford homeownership. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's interest rates will affect your monthly payments. 30-Year Fixed Mortgage RatesThis week's average 30-year fixed mortgage rate is 6.69%, according to Freddie Mac. 15-Year Fixed Mortgage RatesAverage 15-year mortgage rates inched down to 5.96% last week, according to Freddie Mac data.

Persons: they're, Lawrence Yun, you'll, Freddie Mac, it's, they've Organizations: National Association of Realtors, Zillow, Federal Reserve Locations: Chevron

☆ CNBC Daily Open: What recession? The U.S. economy grew at rapid pace
▼ + stars: | 2024-01-26 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Tesla shares plunge 12%Shares of electric vehicle maker Tesla plunged 12%, their biggest drop in over a year. Commodity markets in 'super squeeze' spotSupply disruptions and lack of investment are putting global commodity markets in a "super squeeze," according to HSBC. Some investors have been wary since Beijing has been struggling with a property debt crisis that has triggered financial risks across the broader economy.

Persons: Joe Biden, Biden, Tesla Organizations: CNBC, U.S, Dow Jones, Nasdaq, HSBC, Pro Locations: Emmaus, Emmaus , Pennsylvania, Asia, Pacific, Tesla, China, Beijing

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