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☆ CNBC Daily Open: Trump attends RNC, Dow record close, bitcoin 'digital gold
▼ + stars: | 2024-07-16 | by ( Abid Ali | ) www.cnbc.com time to read: +3 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. Dow record highThe Dow Jones Industrial Average closed at an all-time high after former President Donald Trump survived an assassination attempt. Trump lauded at RNCFormer President Donald Trump was cheered and celebrated at the Republican National Convention in Milwaukee, his first appearance since an assassination attempt at a Pennsylvania rally. [PRO] 'Super 8'UBS has updated its "Super 8" list of top Asian tech stocks, seen as alternatives to the US "Magnificent Seven."

Persons: Donald Trump, Russell, Jerome Powell, Trump, JD Vance, Ohio, Elon Musk, Powell, you've, Larry Fink, Fink, bitcoin, CNBC's, Donald Trump's Organizations: CNBC, Dow, Dow Jones, Nasdaq, Treasury, Federal, RNC, Republican National Convention, Sporting, Trump, BlackRock, CSI, Nikkei, UBS Locations: U.S, Milwaukee, Pennsylvania, Asia, Pacific, China, Hong

☆ CNBC Daily Open: Biden urges unity
▼ + stars: | 2024-07-15 | by ( Abid Ali | ) www.cnbc.com time to read: +4 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. Trump assassination attemptPresident Joe Biden addressed the nation from the White House, where he condemned all political violence and called for unity. [PRO] Gearing up for electionsWith the U.S. presidential election approaching and stock markets at all-time highs, professional investors are emphasizing portfolio diversification to mitigate risks. Despite a brief downturn due to a rotation out of mega-cap growth stocks, the markets rebounded, setting new records.

Persons: Trump, Joe Biden, Biden, Donald Trump, Thomas Matthew Crooks, CNBC's Evelyn Cheng, Russell, CNBC's Michael Santoli, Wiz, David Roche, Hong, Australia's, Korea's Kospi Organizations: CNBC, White, FBI, NBC, Dow, Dow Jones, Depot, Caterpillar, Big Tech, Nasdaq, Wiz, Wall Street Journal, Sequoia Capital, Insight Partners, Quantum, Trump, Republican, Senate, CSI, U.S Locations: Pennsylvania, Bethel Park , Pennsylvania, China, Israeli, Hong Kong Asia, Pacific

☆ CNBC Daily Open: Fed's Powell says high rates could hurt growth
▼ + stars: | 2024-07-10 | by ( Abid Ali | ) www.cnbc.com time to read: +3 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. The yield on the 10-year Treasury note rose even as Powell said progress had been made on inflation. Growth in jeopardyPowell warned that keeping interest rates high for too long could harm economic growth. Mainland China's CSI 300 was little changed as consumer price inflation rose less than expected and producer prices fell, raising concerns about deflation in the world's second-biggest economy.

Persons: Inching, Jerome Powell, KeyBanc, Apple, Powell, Joe Biden, NATO's, Putin, Biden, Max Organizations: CNBC, Nasdaq, Nvidia, Dow Jones Industrial, Russia, Patriot, Boeing, China's CSI, Bank of America Locations: intraday, Ukraine, U.S, Germany, Romania, Netherlands, Italy, Asia, China, Pacific, South

☆ CNBC Daily Open: Are markets too optimistic?
▼ + stars: | 2024-07-09 | by ( Abid Ali | ) www.cnbc.com time to read: +3 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. While open to collaboration, Elliott plans to give shareholders a say in leadership changes if the board remains unresponsive. Despite selling $379 million worth of bitcoin in recent weeks, Germany's Federal Criminal Police Office still holds roughly 32,488 bitcoins — worth around $1.9 billion at today's prices. Japan stocks hit record highJapan's export-heavy Nikkei 225 as well as the broader Topix hit record highs amid a broader rise in Asia-Pacific markets.

Persons: Beryl, Elliott, Elliott Management, Bob Jordan, Gary Kelly, Corning, We've, Wendell Weeks Organizations: New York Stock Exchange, CNBC, Nasdaq, Apple, Nvidia, Dow Jones, Treasury, Southwest Airlines, Police, Federal Criminal Police, National Australia Bank, CSI Locations: New York City, U.S, Saxony, Japan, Asia, Pacific, Al

☆ Asia markets rise after S&P 500, Nasdaq close at all-time highs; Aussie consumer confidence dips
▼ + stars: | 2024-07-09 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +1 min

Asia-Pacific markets opened higher on Tuesday, tracking gains on Wall Street that saw the S&P 500 and the Nasdaq Composite closing at record highs overnight. Hyundai on the other hand reached a tentative wage agreement with its labor union, averting a strike. Hyundai shares slid 1.59%. Last week, the European Union had hiked tariffs on electric vehicles imported from China. Traders in Asia will also watch out for Australia's business confidence data due later in the day.

Persons: Kospi, Mehmet Fatih Kacir, Australia's Organizations: Nasdaq, Nikkei, Samsung Electronics, Hyundai, European Union, Traders Locations: Asia, Pacific, Turkey, China

☆ CNBC Daily Open: UK Labour landslide election victory
▼ + stars: | 2024-07-05 | by ( Abid Ali | ) www.cnbc.com time to read: +3 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. UK Labour wins landslide victoryThe center-left Labour Party has won a landslide victory, ending 14 years of Conservative rule. Samsung shares climbed 2.84%, hitting their highest level since January 2021. Here are Evercore ISI's best stock ideas for the second half.

Persons: Keir Starmer's, Tony Blair's, Rishi Sunak, Brexiteer Nigel Farage, jeopardizing, Korea's Kospi, nonfarm payrolls, Saks, Neiman Marcus, Bergdorf Goodman Organizations: New York Stock Exchange, CNBC, Labour, Labour Party, Conservative, Keir Starmer's Labour, Party, Nikkei, Samsung, Samsung Electronics, CSI, S3 Partners, Saks Fifth, HBC, Saks, ISI Locations: May's

☆ CNBC Daily Open: Micron slides, Amazon's $2 trillion
▼ + stars: | 2024-06-27 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

A trader works on the floor of the New York Stock Exchange (NYSE) during morning trading on March 4, 2024 in New York City. 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. Micron slidesShares of Micron fell almost 8% in extended trading on Wednesday as its revenue forecast failed to top analysts' expectations. The stock rose 3.9% on Wednesday.

Persons: Sanjay Mehrotra, Annie Palmer, Elliott Management, Shunichi Suzuki, Australia's, Arjun Jayaraman Organizations: New York Stock Exchange, CNBC, Dow Jones, Nasdaq, Nvidia, Micron, Apple, Microsoft, Southwest Airlines, Delta, U.S ., Finance, CSI Locations: New York City, Shein, Asia, Pacific, India

☆ CNBC Daily Open: Dow posts best week since May, Tesla cuts 14% of workforce
▼ + stars: | 2024-06-24 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

Traders work on the floor during morning trading at the New York Stock Exchange (NYSE) on March 6, 2024 in New York City. 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. The tech-centric Nasdaq Composite remained flat, while the Dow Jones Industrial Average had its best week since May, rising 1.45%. Most Asia markets fallMost Asia-Pacific markets were trading lower as investors awaited inflation data from Australia and Japan later this week.

Persons: JPMorgan Chase, Goldman Sachs, Tesla, Elon Musk, Musk, Australia's, Kospi, Seng, Morgan Stanley's Andrew Slimmon Organizations: New York Stock Exchange, CNBC, Nvidia, Microsoft, Apple, Nasdaq, Dow Jones, Citigroup, JPMorgan, Bank of America, Apple Intelligence, Union, Nikkei, Bank of, CSI Locations: New York City, Asia, Pacific, Australia, Japan, Bank of Japan

☆ CNBC Daily Open: S&P 500 briefly crosses 5,500, closes lower
▼ + stars: | 2024-06-21 | by ( Abid Ali | ) www.cnbc.com time to read: +3 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. S&P 500 slips from record highThe S&P 500 briefly passed the 5,500 mark for the first time before ending the session lower. Open AI challengerAnthropic, a leading AI competitor to OpenAI, unveiled Claude 3.5 Sonnet, its most advanced AI model to date. [PRO] AI real estateCiti analysts pinpoint a "compelling emerging" real estate trend fueled by AI and nearshoring.

Persons: Gilead, Anthropic, Claude, Donald Trump's, Trump, Masato Kanda Organizations: New York Stock Exchange, CNBC, Nasdaq, Nvidia, Dow Jones, Gilead Sciences, Google, Trump Media, New, Nikkei, Bank of, Reuters, United, CSI, Citi Locations: New York City, U.S, New York, Japan, United States, Asia, Pacific

☆ CNBC Daily Open: Le Pen's 28-year old protégé
▼ + stars: | 2024-06-20 | by ( Abid Ali | ) www.cnbc.com time to read: +3 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 holds rates, stocks dipMarkets in the Asia-Pacific region were trading mostly lower after the People's Bank of China held interest rates unchanged. Russia-North Korea partnershipRussia and North Korea signed a "comprehensive strategic partnership" deal on Wednesday, including a mutual defense pact, during President Vladimir Putin's first state visit to North Korea in 24 years. Musk clarifies remarksElon Musk attempted to clarify his controversial remarks after advertisers threatened to leave X. Musk previously told advertisers to "go f--- yourself."

Persons: Hai Precision Industry —, Foxconn —, Australia's, Guzman Y Gomez, Vladimir Putin's, Putin, Kim Jong Un, CNBC's Holly Ellyatt, Elon Musk, Musk, Goldman Sachs Organizations: New York Stock Exchange, CNBC, People's Bank of China, CSI, Hai Precision Industry, Nikkei, of England, Cannes Lions Locations: New York City, China, Asia, Pacific, Seng, Taiwan, Russia, North Korea, Ukraine, Cannes, France, Europe

Workers at the construction site of resettlement housing in Huai 'an city, Jiangsu province, China, June 17, 2024. Cfoto | Future Publishing | Getty ImagesAsia-Pacific markets started the day mixed as investors awaited China's one- and five-year loan prime rates. The one-year loan prime rate serves as a benchmark for most corporate and household loans, while the five-year rate serves as a peg for property mortgages. The one-year LPR currently stands at 3.45%, while the five-year LPR is at 3.95%. Japan's Nikkei 225 and the broad-based Topix started the day with losses of 0.28% and 0.12%, respectively.

Persons: Huai, LPR, Korea's Kospi, Topix, Australia's Organizations: Getty, People's Bank of China, Nikkei, Reuters Locations: Jiangsu province, China, Asia, Pacific

☆ Asia-Pacific markets rebound as Wall Street rallies overnight; Australia holds rates
▼ + stars: | 2024-06-18 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

A pedestrian and jogger pass the Reserve Bank of Australia (RBA) building, during a partial lockdown imposed due to the coronavirus, in Sydney, Australia, on Monday, May 18, 2020. David Gray | Bloomberg | Getty ImagesAsia-Pacific markets rebounded on Tuesday as Wall Street rallied overnight, with investors assessing the Reserve Bank of Australia's interest rate decision. The RBA held its benchmark interest rate at 4.35% for its fifth straight meeting, saying that inflation "remains above target and is proving persistent." The RBA also noted that the economic outlook remained "uncertain," with recent data signaling that achieving the inflation target was unlikely to be smooth. Automaker Hyundai also hit a fresh record, gaining about 1.62% on news that it plans to list its India unit in Mumbai.

Persons: David Gray, Kazuo Ueda, Akio Toyoda, Kospi Organizations: Reserve Bank of Australia, Bloomberg, Getty, Wall Street, Bank, Japan's Nikkei, Reuters, Bank of Japan, Toyota, Samsung Electronics, SK Hynix, Hyundai, CSI Locations: Sydney, Australia, Asia, Pacific, Mumbai, Hong

☆ CNBC Daily Open: Mega money Musk, Kitty's stake grows
▼ + stars: | 2024-06-14 | by ( Abid Ali | ) www.cnbc.com time to read: +3 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. Chipmaker Broadcom soared after it delivered better-than-expected second-quarter earnings and announced a 10-for-1 stock split. Mainland China's CSI 300 index fell 0.4%, while South Korea's Kospi rose 0.3%. Broadcom's shares soared 13% after reporting earnings that beat analyst expectations and announcing a 10-for-1 stock split.% after reporting earnings that beat analyst expectations and announcing a 10-for-1 stock split.

Persons: Elon, Musk, Janet Yellen, that's, Yellen, CNBC's Andrew Ross Sorkin, That's, Kitty, Keith Gill, Gill, Australia's, BofA Organizations: CNBC, Dow, Nasdaq, Broadcom, Dow Jones, Musk, Treasury, GameStop, Trade, Nikkei, Bank of Japan's, U.S, China's CSI, Chipmaker Broadcom, Bank of America Locations: U.S, Delaware, Japan, South

☆ Asia-Pacific markets range bound ahead of Bank of Japan rate decision
▼ + stars: | 2024-06-14 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

The Bank of Japan (BOJ) headquarters is seen beyond the cherry blossoms in Tokyo on March 20, 2023. Kazuhiro Nogi | Afp | Getty ImagesAsia-Pacific markets were largely range bound on Friday ahead of the Bank of Japan's rate decision. Economists polled by Reuters expect the BOJ will maintain its benchmark interest rate at 0%-0.1%, but Nikkei reported the central bank is considering reducing its holdings of Japanese government bonds. The BOJ currently aims to purchase about 6 trillion yen ($38.5 billion) in bonds per month, and has informed the market of plans to purchase between 4.8 trillion yen and 7 trillion yen of bonds per month. Hong Kong Hang Seng index futures were at 17,964, lower than the HSI's last close of 18,112.63.

Persons: Kazuhiro Nogi, Kospi Organizations: Bank of Japan, Afp, Getty, Bank of, Reuters, Nikkei Locations: Tokyo, Asia, Pacific, Hong Kong

☆ Asia-Pacific markets mixed as traders await China and India inflation data
▼ + stars: | 2024-06-12 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Costfoto | Nurphoto | Getty ImagesAsia-Pacific markets were mixed on Wednesday, ahead of inflation data from both China and India. Traders in Asia will also look toward the U.S. Federal Reserve's decision on Wednesday stateside, which will come hours after the country's May inflation report. China's May inflation rate is expected to increase by 0.4%, slightly higher than the 0.3% seen in April. Separately, India's inflation rate is also forecast to climb marginally to 4.89%, according to a Reuters poll of economists, slightly higher than April's 4.83% increase. Japan's corporate goods inflation rate accelerated to 2.4% in May, beating expectations and marking its fastest rate of increase since August.

Persons: Kospi Organizations: Nurphoto, Getty, Traders, U.S, U.S . Federal, Nikkei Locations: Nanjing, East China's Jiangsu, Asia, Pacific, China, India, U.S ., Hong Kong

☆ CNBC Daily Open: Musk threatens Apple ban
▼ + stars: | 2024-06-11 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Technology stocks Nvidia, Meta and Microsoft boosted the indexes. Apple ban threatElon Musk threatened to ban Apple devices from his companies after Apple announced a partnership with OpenAI. Ailman suggested Musk should focus on one of his ventures and let professional managers handle Tesla's daily operations. The Taiwan Weighted index hit a record high, before paring back gains, as technology and utility stocks rose.

Persons: Elon Musk, Tesla, Goldman Sachs, Musk, Elon Musk's, Chris Ailman, CNBC's, Ailman, CalSTRS, Elliott, paring, Seng, Kospi, Morgan Stanley Organizations: New York Times DealBook, CNBC, Nasdaq, Technology, Nvidia, Meta, Microsoft, Dow Jones, Apple, OpenAI, California State Teachers, Elliott, Southwest, Elliott Management, Southwest Airlines, Boeing, CSI, Nikkei Locations: New York City, U.S, Asia, Taiwan, Pacific

☆ CNBC Daily Open: Far right gains in EU elections
▼ + stars: | 2024-06-10 | by ( Abid Ali | ) www.cnbc.com time to read: +3 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. Far-right advanceFrench President Emmanuel Macron said he will dissolve parliament and call for a new legislative vote after his Renaissance party suffered a major defeat at the EU elections. Populist, far-right parties also won record support in this year's European Parliament elections, exit polls indicated late on Sunday. No way, MuskNorway's $1.7 trillion sovereign wealth fund, Tesla's eighth-largest shareholder, will vote against Elon Musk's $56 billion pay package.

Persons: Emmanuel Macron, Pen, CNBC's Karen Gilchrist, Dow, Stocks, Musk, Kitty's, Keith Gill, Gill, Korea's Kospi, Macron Organizations: CNBC, Populist, Nasdaq, Dow Jones, Treasury, Elon Musk's, GameStop, Nikkei, Markets, Nvidia, Apple Locations: Europe, freefall, Japan, Asia, Australia, Hong Kong, China

A woman walks past Bombay Stock Exchange (BSE) office in Mumbai, India, 18 July, 2022. Nurphoto | Nurphoto | Getty ImagesIndia stocks tumbled Tuesday in volatile trading, leading Asia markets lower as the country continued vote counting for its 2024 general election. The Nifty rose more than 20% last year, while the Sensex was up nearly 19% in 2023. Japan's Nikkei 225 fell 0.22% to close at 38,837.46, while the broader Topix ended 0.38% down at 2,787.48. Hong Kong's Hang Seng index was 0.12% higher, while the CSI 300 index added 0.75% to close at 3,615.67.

Persons: Narendra Modi Organizations: Bombay Stock Exchange, Nurphoto, Getty, BSE, BJP, Japan's Nikkei, CSI Locations: Mumbai, India, Asia, Australia

☆ CNBC Daily Open: Dow drops, Nvidia couldn't save Nasdaq
▼ + stars: | 2024-05-30 | by ( Abid Ali | ) www.cnbc.com time to read: +3 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. Treasury yields weigh on Wall StreetThe S&P 500 snapped its three-day winning streak as Treasury yields climbed. Despite Nvidia's continued rise since its earnings report last week, the tech giant couldn't prevent the Nasdaq Composite from falling. Peltz dumps Disney stakeActivist investor Nelson Peltz has sold his entire stake in Disney, according to a person familiar with the matter.

Persons: Nvidia's, Salesforce, Nelson Peltz, Peltz, Jay Rasulo, Bob Iger, Robert Isom, Vasu Raja, Raja, Korea's Kospi, Hang Seng, CNBC's Brian Evans Organizations: New York Stock Exchange, CNBC, Nasdaq, Dow Jones, Disney, American Airlines, Treasury, Nikkei, China's CSI, Dow Locations: New York City, Disney, Asia, Pacific, Japan, South Korea, China

Commercial and residential buildings are illuminated at dawn in Seoul, South Korea, on Saturday, Oct. 21, 2023. South Korea has prepared a financial support program of 75.9 trillion won ($56.97 billion) for companies increasing investment in key sectors as well as small businesses struggling with the impact of high interest rates. Asia-Pacific markets extended losses on Thursday, tracking Wall Street's moves ahead of a slew of economic data from the region on Friday. Japan's Nikkei 225 fell more than 2%, while the broader Topix dropped 1.4% in early trading. Japan and South Korea will release industrial production figures on Friday, and China will release the official purchasing managers index for May.

Organizations: Nikkei Locations: Seoul, South Korea, Asia, Pacific, Japan, China, Tokyo

☆ Nasdaq closes at record high, Fed's Kashkari seeks more inflation data for rate cuts, GameStop soars
▼ + stars: | 2024-05-29 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The Dow Jones Industrial Average fell more than 200 points after hawkish comments from Minneapolis Federal Reserve President Neel Kashkari. Fed's Kashkari seeks more inflation dataThe Federal Reserve should wait for significant progress on inflation before cutting interest rates, Kashkari told CNBC on Tuesday. GameStop soarsShares of GameStop jumped more than 20% after the video game retailer announced it raised $933 million from a share offering. [PRO] Riding the AI boomCNBC's Todd Gordon analyzes a cybersecurity company that could benefit from investor enthusiasm for artificial intelligence-related stocks.

Persons: Neel Kashkari, Fed's Kashkari, Kashkari, Vasu Raja, Raja, Korea's, Hang Seng, Todd Gordon Organizations: CNBC, Nasdaq, Nvidia, Dow Jones, Minneapolis Federal, Federal, American Airlines, GameStop, Japan's Nikkei, China's CSI, International Monetary Fund Locations: Minneapolis, Asia, Pacific

☆ CNBC Daily Open: Musk's artificial intelligence start-up raises $6 billion
▼ + stars: | 2024-05-28 | by ( Abid Ali | ) www.cnbc.com time to read: +3 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. Nvidia's stock rose 2.6% on Friday, contributing to a 15% surge for the week, while the Nasdaq led major indexes with a 1.41% weekly gain. Nvidia CEO's net worth soarsNvidia CEO Jensen Huang's net worth soared to over $90 billion as better-than-expected earnings sent the company's stock soaring to a record high. Last Thursday, the stock rose more than 9% to close at nearly $1,038 per share.

Persons: Elon Musk, The Beverly Hilton, Jensen, Huang, Glass Lewis, Obama, Weizhen Tan Organizations: SpaceX, Tesla, The Beverly, CNBC, Nasdaq, Dow Jones, Treasury, Nvidia, Investors, Google, Nikkei, Bank of Japan's, CSI Locations: Beverly Hills , California, U.S, Texas, Asia, Pacific

The Melbourne skyline is reflected in the Maribyrnong River in the early morning light on April 18, 2023. Asia-Pacific markets were range bound on Tuesday as investors assess comments from the European Central Bank officials signaling that rate cuts may be on the horizon for the world's largest economic bloc. Japan's Nikkei 225 also was trading close to the flatline, with the broad based Topix also near flat. In a speech Monday, Olli Rehn, ECB governing council member and head of Finland's central bank, stressed inflation in the euro area was falling in a "sustained way." Inflation in the euro zone held steady at 2.4% in April, marking the seventh straight month it has been below 3%, despite a slight rebound in December.

Persons: Kospi, Olli Rehn Organizations: European Central Bank, Nikkei Locations: Melbourne, Maribyrnong, Asia, Pacific, Australia

☆ CNBC Daily Open: Dow's worst day in 2024, Nvidia shares pop
▼ + stars: | 2024-05-24 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Dow sinks 600 pointsThe Dow Jones Industrial Average suffered its worst day of the year, dropping over 600 points on Thursday. Nvidia's blockbuster earnings and guidance failed to prop up markets, with more than 400 stocks on the S&P 500 trading lower. Nvidia popsShares of Nvidia soared as much as 11% after the AI chipmaker's earnings that beat Wall Street's estimates. Wall Street analysts are revising their price targets for Nvidia upwards after its blowout earnings and guidance.

Persons: Dow, Musk, Elon Musk, he's, Joe Biden, Tesla, Karen Tso, Brian West, Korea's Kospi Organizations: CNBC, Dow Jones, Boeing, Dow, Nasdaq, Treasury, Nvidia, Nikkei, Bank of Japan, Samsung Electronics, Samsung, CSI, Wall, Microsoft Locations: China, Asia, Pacific, Japan

☆ CNBC Daily Open: S&P 500 and Nasdaq hit new heights ahead of Nvidia's earnings
▼ + stars: | 2024-05-22 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Wall Street reaches new highsThe S&P 500 and the Nasdaq Composite rose to fresh record highs as investors await earnings from AI chipmaker Nvidia after the close on Wednesday. Nvidia's shares rose 0.6% with option traders pricing in swings of as much as 9% up or down in reaction to its earnings. Rate cuts several months awayFederal Reserve Governor Christopher Waller said he does not think further rate increases are necessary, but he will need convincing before backing any rate cuts. [PRO] When Nvidia risesCNBC's Ganesh Rao takes a look at six artificial intelligence-related stocks that have historically reacted positively to Nvidia's quarterly earnings.

Persons: Christopher Waller, Waller, Biden, Jennifer Granholm, Walt Disney, Bob Iger, Ganesh Rao Organizations: New York Stock Exchange, CNBC, Nasdaq, Nvidia, Dow Jones, Federal, Gasoline, East, Pixar, Studios, Disney, Walt Disney Animation, CSI, Nikkei, Reserve Bank of New Locations: New York City, Israel, Asia, Hong Kong, Reserve Bank of New Zealand, United States, Japan

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