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☆ CNBC Daily Open: Disney wins proxy fight
▼ + stars: | 2024-04-04 | by ( Clement Tan | In Clemtan | ) 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. Korea leads AsiaKorea led stock market gains in Asia-Pacific on Thursday, with markets in Hong Kong, China and Taiwan shut for a public holiday. U.S. Secretary of State Antony Blinken is also due to visit China again later this year. [PRO] Autos winnersA Tesla short-seller named two auto stocks that he believes have the potential to deliver 100% upside for investors.

Persons: Robert Iger, Mickey Mouse, Korea's, Jerome Powell, Steve Cohen, David Einhorn, Henry V, Janet Yellen, Antony Blinken, Tesla Organizations: Walt Disney Company, New, Children's Hospital, Children's Hospital Los Angeles, CNBC, Nikkei, Dow Jones, Intel, Nasdaq, Fed, Treasury Locations: Children's Hospital Los, Los Angeles , California, Korea, Asia Korea, Asia, Pacific, Hong Kong, China, Taiwan, U.S, Yellen, China U.S

☆ Asia markets fall as shares of electric vehicle makers in focus
▼ + stars: | 2024-04-03 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +1 min

A customer is paying attention to the Chinese stock market at a stock exchange in Hangzhou, China, on January 22, 2024. (Photo by Costfoto/NurPhoto via Getty Images) Nurphoto | Nurphoto | Getty ImagesAsia-Pacific stocks declined Wednesday after a mixed session, with markets watching for moves in electric vehicle makers. Tesla's first-quarter vehicle deliveries dropped 8.5% from a year ago, sending shares of the U.S. EV maker down 5%. Japan's Nikkei 225 is down over 1.3% on its open, with the broad based Topix 0.82% lower. Futures for Hong Kong's Hang Seng index stood at 16,907, pointing to a marginally lower open after the index ended more than 2% higher at 16,931.52.

Persons: Tesla's, BYD, Kospi Organizations: Getty, Nurphoto, U.S, U.S . Federal Reserve, Japan's Nikkei Locations: Hangzhou, China, Asia, Pacific, Australia

☆ Asia markets mixed with focus on South Korea inflation print, factory data from Australia and India
▼ + stars: | 2024-04-02 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

A customer pays for his purchase at a dried food stall in Seoul, South Korea, on Thursday, March 3, 2022. Photographer: SeongJoon Cho/Bloomberg via Getty Images Bloomberg | Bloomberg | Getty ImagesAsia-Pacific markets were mixed Tuesday, as investors assessed economic data from South Korea and Australia. South Korea's March inflation rate held steady at 3.1%, in line with expectations from economists polled by Reuters. Factory activity data from India is also due later in the day, with economists polled by Reuters expecting a stronger PMI reading of 59.4. South Korea's Kospi was down 0.34% and the Kosdaq slid 1.11% after the inflation reading.

Persons: SeongJoon Cho, Kospi Organizations: Bloomberg, Getty Images Bloomberg, Getty, Reuters, Nikkei Locations: Seoul, South Korea, Asia, Pacific, Australia, India

☆ CNBC Daily Open: Fights in Mickey's club house
▼ + stars: | 2024-04-02 | by ( Clement Tan | In Clemtan | ) www.cnbc.com time to read: +2 min

Actors dressed as Walt Disney characters Mickey Mouse (left) and Minnie Mouse (right) perform during a press preview for the "Minnie Besties Bash!" 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. U.S. stocks got off to a tentative start for the second quarter as Treasury yields rose on Monday. [PRO] Top 2Q betsBank of America names its top picks for the second quarter, including one Big Tech company.

Persons: Walt Disney, Mickey Mouse, Minnie Mouse, Minnie Besties, Korea's, Jerome Powell's Organizations: Tokyo Disneyland, CNBC, Asia Hong, Japan's Nikkei, CSI, U.S, Rapidus Corporation, of America, Big Tech Locations: Tokyo, Urayasu, Japan, Asia Hong Kong, Asia, Pacific, U.S, Beijing, China, Korea, Taiwan, Hokkaido

☆ CNBC Daily Open: Inflation isn't coming down fast enough
▼ + stars: | 2024-03-26 | 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. Indian bonds on global indexesIndian bonds are set to be added to global indexes which could be a gamechanger for the country. Trump Media to start tradingThe company behind former President Donald Trump's social media platform Truth Social, will start trading on Tuesday. Called Trump Media & Technology Group Corp., it will trade on the NASDAQ under the stock ticker symbol DJT.

Persons: Patria Stodghill, vender Susan Mendoza, Donald Trump's, Trump, David Dietze Organizations: Patria, Washington , DC, CNBC, CSI, Federal Reserve, Dow, Nasdaq, Bloomberg, Services, China Apple, Wedbush Securities, Huawei, Apple, Trump Media, Trump Media & Technology Group Corp, NASDAQ, Nvidia, Wealth Management Locations: Washington ,, South Korea, Seng, China

TOKYO (AP) — Asian shares were trading mixed on Monday, as investors awaited further indications the Federal Reserve might begin cutting interest rates. A top Japanese finance official expressed reservations about the recent surge in the U.S. dollar against the Japanese yen, fueling speculation about possible intervention in the market. Despite the BOJ’s decision to hike rates, cautious communication failed to stimulate demand for the Japanese yen,” said Luca Santos, currency analyst ACY Securities. The yield on the 10-year Treasury fell to 4.21% from 4.27% late Thursday. The U.S. Federal Reserve has indicated it may deliver three cuts to interest rates this year, as long as inflation keeps cooling.

Persons: Seng, Korea's Kospi, ”, Luca Santos, Brent Organizations: TOKYO, Reserve, Nikkei, Shanghai, U.S ., U.S, of, of Japan, ACY Securities, Dow Jones, Nasdaq, Treasury, U.S . Federal Locations: of Japan, Japan, U.S

Tokyo’s Nikkei 225 index rose 0.7% to 40,003.60, while the dollar rose to 150.35 Japanese yen from 149.14 yen. Australia's S&P/ASX 200 added 0.4% to 7,703.20 after Australia’s central bank kept its benchmark interest rate steady at 4.35% for a third consecutive meeting. This week's highlight for Wall Street will likely be the Federal Reserve’s meeting on interest rates, which ends on Wednesday. The widespread expectation is for the central bank to hold its main interest rate steady at its highest level since 2001. But Fed officials will also give updated forecasts for where they see interest rates heading this year and in the long run.

Persons: Australia's, Tesla, Stephen Scherr, Wayne “ Gil ”, He’s, It's Organizations: Bank of Japan, Nikkei, Reserve Bank, Bank of England, Dow Jones, Nasdaq, Nvidia, Big Tech, Hertz Global Holdings, Cruise, Delta Air Lines, Boeing, Workers, New York Mercantile Exchange, Brent Locations: BANGKOK, Asia, Shanghai, Seoul, U.S, Oregon, San Francisco

HONG KONG (AP) — Asian stocks advanced Monday ahead of policy decisions this week by Japan’s central bank and the Federal Reserve. Markets are awaiting a decision by the Bank of Japan on Tuesday on whether to raise its benchmark interest rate for the first time in 17 years. A report on consumer prices last week showed inflation remains stubborn, ticking up to 3.2% in February from 3.1% in January. Another report on prices at the wholesale level also showed inflation remains hotter than Wall Street expected. The Fed's main rate remains at its highest level since 2001.

Persons: Australia’s Organizations: Japan’s, Federal Reserve, Nikkei, Bank of Japan, Dow Jones, Nasdaq, Technology, Software, Adobe, Microsoft, Broadcom, Google, University of Michigan, Fed, Traders, CME Group, New York Mercantile Exchange, Brent, U.S Locations: HONG KONG, Tokyo, Hong Kong, Shanghai, South Korea, India, Bangkok, U.S

Germany’s DAX added 0.1% to 17,959.35 and the FTSE 100 in London edged 0.1% higher to 7,731.73. Markets are awaiting a decision by the Bank of Japan on Tuesday on whether to raise its benchmark interest rate for the first time in 17 years. The Hang Seng in Hong Kong edged 0.1% higher to 16,737.12, and the Shanghai Composite index gained 1% to 3,084.93. Elsewhere, Australia’s S&P/ASX 200 edged 0.1% higher to 7,675.80, and the Kospi in South Korea advanced 0.7%, to 2,685.84. A report on consumer prices last week showed inflation remains stubborn, ticking up to 3.2% in February from 3.1% in January.

Persons: Germany’s DAX, Australia’s Organizations: Japan’s, Federal Reserve, CAC, Dow Jones, Nikkei, Bank of Japan, Honda Motor, Dongfeng Motor, Nasdaq, Software, Adobe, Microsoft, Broadcom, Google, University of Michigan, Fed, Traders, CME Group, New York Mercantile Exchange, Brent, U.S Locations: HONG KONG, London, Paris, Tokyo, Hong Kong, Shanghai, China, South Korea, India, Bangkok, U.S

TOKYO (AP) — Global shares are mixed Thursday in lackluster trading. U.S. shares were set to drift higher with Dow futures up nearly 0.3% at 39,632.00. Nissan Motor Co. stock jumped 2.2% after an unconfirmed Japanese media report that the automaker behind the Leaf electric car was about to enter an agreement on EVs with domestic rival Honda Motor Co. Honda shares rose 1.1%. Photos You Should See View All 60 ImagesThe Japanese central bank has set a target of 2% inflation. That higher inflation has in turn dashed Wall Street’s hopes that the Federal Reserve could start offering relief at its meeting next week by cutting interest rates.

Persons: Germany's DAX, Sydney's, Hang Seng, ”, Anderson Alves, Brent Organizations: TOKYO, —, CAC, Dow, Nikkei, Nissan Motor Co, Honda Motor Co, Honda, Nissan, Bank of Japan, Bank of, Federal Reserve, Fed, U.S Locations: Hong, Shanghai, ActivTrades, Bank of Japan

☆ CNBC Daily Open: Stubborn inflation is a problem for the Fed
▼ + stars: | 2024-03-13 | 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. Despite high inflation, the BOJ hasn't really shifted from its ultra-loose monetary policy that has been in place in 2016. Rate cut pivot in 2024Central banks worldwide could make a rate cut pivot in 2024. Boeing crisis hurt airlinesCEOs from several airlines say Boeing's delivery delays have forced the carriers to change their growth plans.

Persons: Thomas Calomiris Organizations: Washington , DC, CNBC, Japan's Nikkei, Dow, Nasdaq, Bank of Japan, Economist Intelligence, Boeing, Alaska Airlines Max, Southwest Airlines, Alaska Airlines, United Locations: Washington ,, Asia, BOJ, Central, Beijing

TOKYO (AP) — Asian shares mostly rose Wednesday, encouraged by a record rally on Wall Street that was led by technology companies. Speculation is rife that Japan's central bank is getting ready to end its super-easy monetary policy, which has set interest rates below zero, and start raising rates. Photos You Should See View All 60 ImagesOn Wall Street, the S&P 500 jumped 1.1% to top its all-time high set last week. The worse-than-expected data kept the door closed for long-sought cuts to interest rates at the Federal Reserve meeting next week. On Wall Street, big technology stocks did heavy lifting.

Persons: Australia's, Korea's Kospi, ”, Tim Waterer, Brian Jacobsen, Chris Larkin, Morgan Stanley, ” Larkin, “, Dow, Brent Organizations: TOKYO, Nikkei, Bank of, KCM, U.S, Dow Jones, Nasdaq, Federal Reserve, Annex Wealth Management, Fed, Treasury, Oracle, Nvidia Locations: Hong, Shanghai, Wall

TOKYO (AP) — Asian shares were trading mixed Thursday, after Wall Street recovered some losses from the day before. Japan's benchmark Nikkei 225 momentarily reached a record high in early trading but slipped later to finish at 39,598.71, down 1.2%. “The positive handover from Wall Street, alongside lower Treasury yields and a weaker U.S. dollar, may offer some relief as Fed Chair’s testimony failed to drive much hawkish deviation from his usual script,” said Yeap Jun Rong, market analyst at IG. As always, Wall Street scrutinized each of Powell's words for hints about when the Federal Reserve could begin cutting its main interest rate, which is at its highest level since 2001. “We want to see a little more data so we can become more confident.”Traders have already shelved earlier expectations for a cut in March, and they’re now eyeing June as the likeliest beginning.

Persons: Australia's, ”, Yeap Jun Rong, Jerome Powell, CrowdStrike, Steven Mnuchin, Donald Trump, Powell, ” Powell, Rubeela Farooqi, Locker, Brent, Stan Choe Organizations: TOKYO, Wall, Nikkei, IG, Federal, Dow Jones, Nasdaq, Nvidia, Big Tech, New York Community Bancorp, U.S, Treasury, Federal Reserve, Fed, Traders, AP Locations: Hong, Shanghai

☆ Japan’s Nikkei 225 stock index surpasses 40,000 for the first time
▼ + stars: | 2024-03-04 | by ( Laura He | ) edition.cnn.com time to read: +3 min

Japan’s Nikkei 225 index jumped above 40,000 for the first time on Monday, extending a historic rally that analysts say has just begun. The milestone comes just days after it had set a record closing high of 39,098.68, eclipsing its previous 1989 peak. Optimism regarding semiconductors boosted Taiwan’s stock market as well, with benchmark Taiex hitting an all-time high on Monday, led by Taiwan Semiconductor Manufacturing Company. Premier Li Qiang is set to announce China’s 2024 growth target on Tuesday and is also likely to unveil more stimulus measures to revive the sagging economy. Analysts widely expect the policymakers to set this year’s growth target at around 5%.

Persons: ”, Jefferies, “, chipmaker, Kospi, Hong, Li Qiang, Stephen Innes Organizations: Hong Kong CNN —, Nikkei, Nasdaq, Taiwan Semiconductor Manufacturing Company, Nvidia, Investors, National People’s Congress, NPC, Communist Party’s Politburo Locations: Hong Kong, Japan, Beijing, Shanghai, China

BANGKOK (AP) — Shares were mostly higher in Asia after Chinese markets reopened Monday from a long Lunar New Year holiday. Markets will be closed Monday in the United States for President's Day. Elsewhere in Asia, Australia's S&P/ASX 200 edged 0.1% higher to 7,665.10 and the Kospi in Seoul picked up 1.2%, to 2,680.26. It also discouraged bets that a Fed move to relax conditions on the economy and financial markets could come even in May. Higher rates and yields make borrowing more expensive, slowing the economy and hurting prices for investments.

Persons: Hang Seng, Australia's Organizations: President's, Ocean, China Vanke, Dow Jones, Nasdaq, Federal Reserve, New York Mercantile Exchange, Brent, U.S Locations: BANGKOK, Asia, United States, China, Shanghai, Seoul, India

BANGKOK (AP) — Shares advanced in Asia on Friday, with Tokyo's benchmark Nikkei 225 index trading near a record high, 35 years after it peaked and then plunged with the collapse of Japan's financial bubble. U.S. futures were lower after stocks on Wall Street set a fresh record following some mixed reports on the economy. It has been hovering just below the record high of 38,915.87 that it set on Dec. 29, 1989, right before a plunge in share and property prices ushered in an era of slower, faltering growth. Taiwan's Taiex edged 0.2% lower a day after breaching a record high of 18,644.57 as major market mover TSMC, the world's biggest computer chip maker, surged nearly 8%. On Thursday, the S&P 500 rose 0.6% to 5,029.73, squeaking past its all-time high set last week.

Persons: Australia's, Shack, Wells Organizations: —, Nikkei, Nvidia, Dow Jones Industrial, Nasdaq, U.S, Treasury, Federal Reserve, Fed, CBRE, New York Mercantile Exchange, Brent Locations: BANGKOK, Asia, Hong, Seoul, India, Wall

☆ Despite Japan’s economic recession, Asian stocks rise
▼ + stars: | 2024-02-16 | by ( Diksha Madhok | Juliana Liu | ) edition.cnn.com time to read: +3 min

Hong Kong/New Delhi CNN —Japan’s stock market defied gloomy economic data to rally Friday, lifting broader Asian shares and ending the week on a buoyant note. Japan’s benchmark Nikkei 225 index closed above 38,000 points for the second day in a row, just a whisker off its historic peak reached in December 1989. “If anything, the window of opportunity created by the weak yen is encouraging international investors, as they suspect it will close soon,” he added. The MSCI’s broadest index of Asian shares excluding Japan closed more than 1% higher. On Wall Street, the S&P 500 closed at a record high of 5,029.73 Thursday as US stocks bounced back from steep losses earlier this week.

Persons: ”, Neil Newman, Stephen Innes, Austan Goolsbee, Innes, Korea’s Organizations: Hong Kong / New Delhi CNN, Analysts, Japan, Dow, Nasdaq, Federal Reserve, Fed, Chicago Fed Locations: Hong Kong / New Delhi, Tokyo, United Kingdom, Asia, Pacific, New York, China

BANGKOK (AP) — Shares rose in Asia on Thursday after Wall Street stocks recovered much of their sharp losses from a day before. On Wednesday, the S&P 500 climbed 1% to 5,000.62, clawing back more than two-thirds of its loss from Tuesday. It was the single strongest force lifting the S&P 500 index. Most companies in the S&P 500 have been topping analysts’ forecasts for the last three months of 2023. Hopes for stronger growth in 2024 from a solid economy have been another reason the S&P 500 has set 10 records already this year.

Persons: Australia's, Taiwan’s Taiex, India's Sensex, Russell, Lyft, Airbnb Organizations: Wall, Bank of Japan, Nikkei, Reserve, Dow Jones Industrial, Nasdaq, Treasury, Nvidia, Technologies, Akamai Technologies, New York Mercantile Exchange, Brent, U.S Locations: BANGKOK, Asia, Seoul, Japan, Britain, China, Germany, Hong Kong, Bangkok, Italy, U.S

TOKYO (AP) — Shares declined Wednesday in Asia after disappointingly high U.S. inflation data sent stocks sliding on Wall Street and raised prospects that interest rates will remain elevated for longer. Hong Kong’s Hang Seng index resumed trading after the Lunar New Year holiday, edging 0.7% higher to 15,861.77 after opening lower. High interest rates hurt all kinds of investments, and they tend to particularly hurt high-growth stocks like technology companies. Stocks of smaller companies fell even more because high rates could hurt them more than bigger rivals by making it more difficult to borrow cash. Yields jumped in the bond market as traders built up expectations for the Fed to keep rates high for longer.

Persons: Australia's, Korea's Kospi, Sensex, Tuesday’s, Russell, Alexandra Wilson, Elizondo, Carl Icahn Organizations: TOKYO, —, Nikkei, Federal Reserve, Labor Department, Dow Jones, Nasdaq, Microsoft, Fed, Treasury, Goldman, Goldman Sachs Asset Management, Wall, JetBlue Airways, New York Mercantile Exchange, Brent, U.S Locations: Asia, Indonesia, Southeast, China, Bangkok, Goldman Sachs

That may relieve pressure on the central bank to alter its longstanding ultra-lax monetary policy and raise its benchmark interest rate from minus 0.1%. Inflation has been cooling enough that the Federal Reserve has hinted it may cut its main interest rate several times this year. Reports showing the U.S. economy and job market remain remarkably solid, along with some comments from Fed officials, have been forcing the delays. In energy trading, benchmark U.S. crude rose 27 cents to $77.19 a barrel in electronic trading on the New York Mercantile Exchange. In currency trading, the U.S. dollar rose to 149.67 Japanese yen from 149.34 yen.

Persons: Germany's DAX, Australia's, Korea's Kospi, ” Yeap Jun Rong, that’s Organizations: TOKYO, CAC, FTSE, Dow Jones, Nikkei, Bank of Japan, IG, Federal Reserve, New York Mercantile Exchange, Brent, U.S Locations: Asia, China , Hong Kong, Taiwan, United States

BANGKOK (AP) — Share were mostly higher in Asia on Thursday after the S&P 500 neared the 5,000 level for the first time. Hong Kong’s benchmark fell while Shanghai advanced after China replaced its top stock market regulator. Late Wednesday, China's top stock regulator was replaced by a former chairman of the Shanghai Stock Exchange as part of those efforts. On Thursday, the Shanghai Composite index gained 1.3% to 2,865.90 and the Shenzhen Components index in China's smaller main market also added 1.3%. The S&P 500 gained 0.8%, coming within a fraction of a point of the 5,000 level before ending the day at 4,995.06.

Persons: Wu Qing, Yi Huiman, Hang Seng, Australia's, SET, Snapchat Organizations: Shanghai Stock Exchange, China Securities Regulatory Commission, Communist Party, Nikkei, Ford, Dow Jones, Nasdaq, . New York Community Bancorp, Signature Bank, Ford Motor, Enphase Energy, CVS Health, Corp, Vans, New York Mercantile Exchange, Brent Locations: BANGKOK, Asia, Shanghai, China, Tokyo, Beijing, Shenzhen, Seoul, India, Wall

TOKYO (AP) — Asian shares were mostly higher Wednesday, tracking gains on Wall Street, although Tokyo's benchmark slipped slightly. Those developments had pushed Chinese shares, including those in Hong Kong, sharply higher on Tuesday. The mostly small cap stocks traded in the southern Chinese market of Shenzhen were up 1.4%, and the CSI 1000, an index that tracks highly volatile “snowball derivatives" was up 4.2%. Wall Street drifted higher through a quiet Tuesday as the bond market calmed following some sharp swings. In the bond market, the yield on the 10-year Treasury relaxed following its slingshot ride higher in recent days.

Persons: Xi Jinping, Seng, Australia's, Korea's Kospi, Brent Organizations: TOKYO, Hong, CSI, Nikkei, Toyota Motor Corp, Dow Jones Industrial, Nasdaq, Federal, GE Healthcare Technologies, Palantir Technologies, FMC, CVS Health, Walt Disney Co, PepsiCo, Treasury, U.S Locations: U.S, Shanghai, Shenzhen, Hong Kong, Asia, Brazil

BANGKOK (AP) — Shares were mixed Tuesday in Asia, where Chinese stocks surged after a government investment fund said it would step up stock purchases and a report said leader Xi Jinping was set to meet with officials to discuss the markets. The fund periodically steps up buying of shares in big state-owned banks and other companies to counter heavy selling pressure in the Chinese markets. On Monday, benchmarks in Shanghai and the smaller market in Shenzhen bounced between small gains and big losses, while share prices of state-run banks and other big companies rose. The Fed has yanked the federal funds rate to its highest level since 2001 to bring down high inflation. But there's also an upside for stocks from the U.S. economy's blasting through worries about a possible recession.

Persons: Xi Jinping, Xi, Hong, Seng, Australia's, India's, Jerome Powell, there's Organizations: Bloomberg, CSI, Central Huijin Investment, Nikkei, Dow Jones, Nasdaq, Federal Reserve, Institute for Supply, New York Mercantile Exchange, Brent Locations: BANGKOK, Asia, Shanghai, Shenzhen, South Korea, Bangkok

☆ China is pumping money into stocks and markets are loving it
▼ + stars: | 2024-02-06 | by ( Laura He | ) edition.cnn.com time to read: +3 min

The Shanghai Composite, mainland China’s benchmark index for large state-owned companies and blue-chip stocks, ended up 3.2% on Tuesday, ending a six-day losing streak. By Monday, about $6.1 trillion in market value had been wiped from the Chinese and Hong Kong stock markets since their recent peaks in February 2021. Central Huijin Investment, the equity arm of state-owned China Investment Corp, announced Tuesday that it had recently expanded its holdings of exchange-traded funds (ETFs) on mainland stock markets. The intensified efforts came after Chinese markets resumed their slide on Monday, when more than 1,800 stocks fell by more than 10% in Shanghai and Shenzhen. Tuesday’s rally in China was in contrast to other markets in the region.

Persons: “, Australia’s, Evergrande, Anna Cooban Organizations: Hong Kong CNN, Alibaba, Huijin Investment, China Investment Corp, China Securities Regulatory Commission, Central Huijin Investment, Embassy, Nikkei, Kospi Locations: China, Hong Kong, Shanghai, Shenzhen, Europe, Beijing, United States

Last week, Chinese stocks capped their worst week in five years. On Friday, Big Tech stocks once again carried Wall Street to a record, even though the majority of stocks fell due to renewed worries about risks of a hot economy. The Big Tech stocks, which are two of Wall Street’s most influential, also vaulted the Nasdaq composite up by 1.7%. But the Dow Jones Industrial Average, which has less of an emphasis on tech, rose by a more modest 0.3% to 38.654.42. They’re both members of a small group of Big Tech stocks known as the “Magnificent Seven” responsible for the majority of Wall Street’s run to a record.

Persons: Donald Trump, Hang Seng, Australia’s, it’s, Stocks, Jerome Powell, They’re Organizations: China Securities Regulatory Commission, Nikkei, Big Tech, Meta, Dow Jones, Nasdaq, Federal Reserve, Facebook, Amazon, Apple, Charter Communications, New York Mercantile Exchange, Brent, U.S Locations: HONG KONG, Beijing, Shenzhen, Shanghai, U.S, China, Hong, Asia

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