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☆ 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

☆ Asia markets in mixed territory after Fed raises concern over 'persistent' inflation
▼ + stars: | 2024-05-23 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

An inflatable bull during a ceremony marking the first day of trading of the year at the Korea Exchange (KRX) headquarters in Seoul, South Korea, Tuesday, Jan. 2, 2024. SeongJoon Cho/Bloomberg via Getty ImagesAsia-Pacific markets were mixed after minutes from the last U.S. Federal Reserve meeting revealed that Fed officials have grown more concerned about inflation, with members indicating they lacked confidence to move forward on interest rate reductions. In Asia, investors will assess flash business activity data from Australia and Japan, as well as Singapore's final first quarter gross domestic figures. South Korea's central bank will be announcing its policy rate decision today. Analysts polled by Reuters expect the Bank of Korea to hold its benchmark lending rate at 3.5%, although a note from ING last week said the meeting will still be closely watched, "as two new members have joined the [BOK's] board since the last meeting and it will be interesting to see if this has changed the view of the board."

Persons: SeongJoon Cho Organizations: Korea Exchange, Bloomberg, Getty Images, Federal Reserve, Reuters, Bank of, ING Locations: Seoul, South Korea, Getty Images Asia, Pacific, U.S, Asia, Australia, Japan, Korea's, Bank of Korea

☆ Asia-Pacific markets trade mixed as investors parse slew of Japanese data
▼ + stars: | 2024-05-22 | by ( Lee Ying Shan | ) www.cnbc.com time to read: 1 min

Asia-Pacific markets traded mixed Wednesday. Japan's Nikkei 225 was trading about 0.5% lower in the first hour of trade, while the Kospi slid 0.35%. There was a marginal improvement in business sentiment, with the Reuters Tankan non-manufacturing index coming in at +26. Japan is slated to release its April trade data, as well as machinery orders for the month of March. Futures for Hong Kong's Hang Seng index stood at 19,212 pointing to a slightly weaker start compared with the HSI's close of 19,220.62.

Organizations: Nikkei, Reuters, Reserve Bank of New Zealand Locations: Asia, Pacific, Australia, Japan

In this photo illustration the Nvidia logo is displayed on a smartphone screen and in the background. Asia-Pacific markets are set to extend gains from Monday as tech shares pushed the Nasdaq Composite to record highs. Nvidia shares gained more than 2% overnight on multiple bullish analyst calls that highlighted the company's preeminent market position. The tech-heavy Nasdaq gained 0.65% to reach an all-time intraday high and close at a record level at 16,794.87. Investors in Asia will be watching for any spillover effect on companies up and down Nvidia's value chain, such as Taiwan's TSMC and Foxconn , as well as South Korea's Samsung Electronics and SK Hynix.

Organizations: Nasdaq, Samsung Electronics, SK Hynix Locations: Asia, Pacific

☆ Asia markets poised to climb ahead of China rate decision; key Japan data on deck this week
▼ + stars: | 2024-05-20 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

A man walks past the People's Bank of China (PBOC) building on July 20, 2023 in Beijing, China. (Photo by Jiang Qiming/China News Service/VCG via Getty ImagesAsia-Pacific markets mostly rose Monday to kick-start a week packed with economic data from across the region. China, which laid out measures on Friday to boost its property market, will announce its one- and five-year loan prime rates later in the day. The five year LPR is a key reference rate for housing mortgages. Later this week, investors will also look to trade, inflation and business activity data out from Japan, while Singapore will release its April inflation data and final figures for its first-quarter gross domestic product.

Persons: Jiang Qiming Organizations: People's Bank of China, China News Service, Getty Images Locations: Beijing, China, Getty Images Asia, Pacific, Japan, Singapore

☆ Asia-Pacific markets are mostly lower as investors await key economic data from China
▼ + stars: | 2024-05-17 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

Asia-Pacific markets took a breather after rallying in the previous session, as investors await key China data to assess the state of the world's second largest economy. China data, including new house prices, urban unemployment and retail sales figures for April, is due later in the day. Russian President Vladimir Putin, who is on a two-day state visit to China, said at a press conference that discussions had been "warm and comradely" and had shown the importance of the two countries' relationship. Singapore will also release its non-oil domestic export figures for April, with NODX expected to fall 10% year on year.

Persons: Vladimir Putin, NODX Locations: Asia, Pacific, China, Singapore

☆ European stocks set to react positively to soft U.S. inflation data, following global markets higher
▼ + stars: | 2024-05-16 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

European stocks are set to open in positive territory Thursday, buoyed by a relief rally for global markets following softer-than-expected U.S. inflation data. The U.S. consumer price index rose 0.3% in April, below the 0.4% rise predicted by the Dow Jones, data released Wednesday showed. Consumer prices still grew 3.4% from a year ago, in line with market estimates, but the data has encouraged traders to believe that the U.S. Federal Reserve could begin to cut rates in the near future. Asia-Pacific markets rose Thursday after Wall Street benchmarks closed at record highs overnight following the inflation data. U.S. stock futures were near flat overnight.

Persons: Dow Jones Organizations: U.S . Federal Reserve Locations: U.S, Asia, Pacific

☆ CNBC Daily Open: Wall Street hits record, 'Thee rate cuts'
▼ + stars: | 2024-05-16 | by ( Abid Ali | ) www.cnbc.com time to read: +2 min

The Charging Bull is seen on an empty Wall Street on April 20, 2020 in New York City. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Wall Street hits record highThe S&P 500 and the Nasdaq rose to record highs after inflation data came in lower than expected. All three major indexes closed at record highs. Asia up, Japan's GDP shrinksAsia-Pacific markets rose on Thursday after Wall Street hit record highs.

Persons: Buffett, Chubb, Warren, Berkshire Hathaway, Seng, Biden, Morgan Stanley Organizations: CNBC, Nasdaq, Dow Jones Industrial, Federal, Tech, Nvidia, Apple, Microsoft, GameStop, AMC, Berkshire, Wall, Nikkei, U.S Locations: New York City, Zurich, Asia, Pacific, China

☆ European markets set for higher open ahead of key U.S. inflation data
▼ + stars: | 2024-05-15 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

European markets are heading for a higher open Wednesday as global investors look ahead to the latest U.S. inflation print. Traders are hoping that a return to Federal Reserve rate hikes is largely off the table despite a recent slew of hotter-than-expected inflation prints. On Tuesday, April's producer price index came in higher than economists' expectations, dampening expectations that the Fed would begin cutting rates later this year. Fed Chair Jerome Powell reiterated Tuesday that inflation is falling more slowly than expected, likely keeping interest rates elevated for an extended period. Asia-Pacific markets were mostly higher overnight, tracking Wall Street gains on Tuesday that saw the Nasdaq Composite index hit a fresh record closing high despite the strong inflation data.

Persons: Jerome Powell Organizations: Traders, Federal, Fed, Nasdaq Locations: Asia, Pacific

☆ Asia markets track Wall Street gains ahead of key U.S. inflation data
▼ + stars: | 2024-05-15 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: 1 min

Employees work in the trading room inside the Mitsubishi UFJ Trust and Banking head office in Tokyo, Japan, on Tuesday, March 19, 2024. Asia-Pacific markets opened higher Wednesday, tracking Wall Street gains overnight that saw the Nasdaq Composite index hit a fresh record closing high despite strong inflation data. The producer price index reading for April came in at 0.5%, above the 0.3% that economists polled by Dow Jones had expected. The initial market reaction was negative but stocks subsequently rose as March wholesale prices were revised down to show a 0.1% decline. Markets in South Korea and Hong Kong were shut on Wednesday for a public holiday.

Persons: Dow Jones Organizations: Mitsubishi UFJ Trust, Banking, Nasdaq Locations: Tokyo, Japan, Asia, Pacific, South Korea, Hong Kong

☆ European stocks head for lower open as global markets await U.S. inflation data
▼ + stars: | 2024-05-14 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

European stocks are heading for a lower open Tuesday as global investors await the latest U.S. inflation reports. April's consumer price index report is due out on Wednesday and economists expect that it rose 0.4% in April on a month-over-month basis, or 3.4% from 12 months earlier. Overnight, Asia-Pacific markets pared gains hours after opening higher on Tuesday as stocks on Wall Street stumbled Monday, with the Dow Jones Industrial Average snapping an eight-day winning streak. U.S. stock futures flickered near the flatline Monday evening as Wall Street braced itself for the release of the producer price index reading for April on Tuesday. Economists polled by Dow Jones anticipate that the PPI gained 0.3% from the previous month.

Persons: Dow Jones Organizations: Traders, Federal, Dow Jones, PPI Locations: Asia, Pacific

Asia-Pacific markets were largely higher Tuesday even as stocks on Wall Street stumbled, with the Dow Jones Industrial Average snapping an eight-day winning streak. Investors in Asia assessed India's inflation numbers. Data released Monday showed consumer price index climbed 4.83% year on year, nearly in line with the 4.8% expected by economists polled by Reuters. India's wholesale inflation reading is due to be released later in the day. Data from the Bank of Japan showed that corporate inflation was steady in April compared with a year earlier, but import prices jumped 6.4% year over year last month, most likely due to the yen's sharp declines.

Organizations: Dow Jones, Reuters, Bank of Japan Locations: Jama, New Delhi, India, Asia, Pacific

☆ European markets head for mixed open as traders look ahead to latest U.S. inflation data
▼ + stars: | 2024-05-13 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

European markets are heading for a mixed open at the start of the new trading week, and investors will be keeping a close eye on the latest U.S. inflation figures. April's consumer price index report is due out on Wednesday, with traders hoping that a return to rate hikes is largely off the table for the U.S. Federal Reserve despite a slew of hotter-than-expected inflation prints recently. Overnight, Asia-Pacific markets were mixed as investors assessed China's stronger-than-expected April inflation data; China's consumer price index climbed 0.3% year on year, beating Reuters estimates of a 0.2% rise. India's inflation figures will also be out late Monday, with economists polled by Reuters expecting inflation in the world's fifth-largest economy to slow slightly to 4.8% in April, down from March's 4.85%.

Organizations: U.S . Federal, Reuters Locations: Asia, Pacific, March's

☆ Japan stocks lead gains in Asia markets as renewed rate cut hopes lift sentiment
▼ + stars: | 2024-05-10 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Cherry trees in bloom near the Nippon Budokan in Tokyo, Japan, on Sunday, April 7, 2024. Bloomberg | Bloomberg | Getty ImagesJapan led gains in Asia-Pacific markets on Friday after stronger-than-expected, year-on-year consumer spending data, and as renewed rate cut hopes by the U.S. Federal Reserve bolster market sentiment. Japan's overall household spending in March fell 1.2% year on year, less than the 2.4% expected by a Reuters poll of economists. However, on a month-on-month basis, household spending rose 1.2%, compared with estimates of a 0.3% drop. Should the index reach the futures level, it would be its highest in about nine months.

Persons: Cherry, Kospi Organizations: Nippon Budokan, Bloomberg, Getty Images Japan, U.S . Federal Reserve, Nikkei Locations: Tokyo, Japan, Asia, Pacific

☆ Asia markets mixed ahead of China trade data and Japan pay figures
▼ + stars: | 2024-05-09 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Yaorusheng | Moment | Getty ImagesAsia-Pacific markets were mixed ahead of China's April trade data, as well as pay statistics from Japan. Economists polled by Reuters are expecting a 1.5% rise in China's exports, a reversal from the 7.5% fall in March. Imports are also expected to grow 4.8% year-on-year in April, compared with a 1.9% fall in March. Separately, investors will assess pay statistics from Japan as they look for any signs of the "virtuous cycle" of increasing wages and prices envisioned by the Bank of Japan. Futures for Hong Kong's Hang Seng index stood at 18,277, pointing to a weaker open compared to the HSI's close of 18,313.86.

Persons: Korea's Kospi Organizations: Reuters, Bank of Japan, Japan's Nikkei Locations: Shanghai, Asia, Pacific, Japan

☆ European markets head for higher open; BoE rate decision ahead
▼ + stars: | 2024-05-09 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

European markets are heading for a higher open Thursday, maintaining positive momentum in a busy week of earnings. Ferrovial, Telefonica, EDP, Enel, Pirelli and Salvatore Ferragamo are all due to report today. Elsewhere, the Bank of England is set to publish its latest interest rate decision Thursday. China stocks rose overnight as its imports surged past estimates and exports rose in line with expectations, while the broader Asia-Pacific market was mixed. Meanwhile, futures linked to the Dow Jones Industrial Average hovered near the flatline Wednesday evening after the 30-stock index posted its sixth consecutive winning day.

Persons: Salvatore Ferragamo, it's Organizations: Ferrovial, Telefonica, EDP, Enel, Pirelli, Bank of England, Dow Jones Locations: China, Asia, Pacific

DavidCallanAsia-Pacific markets are mixed on Wednesday, mirroring moves in Wall Street's Tuesday session. Investors in the region will parse through earnings reports including those of Japanese giants Toyota and Mitsubishi, as well as Singapore's UOB. Traders will also brace for key economic data out of China and Japan on Thursday, with China releasing its April trade data and Japan announcing its March pay statistics. Japan's Nikkei 225 slipped 0.33% on its open, while the broad based Topix was down 0.3%. South Korea's Kospi extended gains and rose 0.1% after leading Asian markets on Tuesday.

Persons: HSI Organizations: Toyota, Mitsubishi, Traders, Nikkei Locations: DavidCallan Asia, Pacific, Wall, China, Japan

☆ Asia markets extend gains on rate cut optimism; RBA decision in focus
▼ + stars: | 2024-05-07 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

In Asia, investors await the Reserve Bank of Australia decision on rates as the bank concludes its two-day monetary policy meeting. Economists polled by Reuters expect the RBA to hold its benchmark lending rate at 4.35% for its fourth meeting in a row. Australia's S&P/ASX 200 inched up 0.23% ahead of the decision, on course to gain for a fourth straight day. South Korea's Kospi popped 1.6% as trading resumed after a public holiday, while the small-cap Kosdaq rose 1.08%. Japan's Nikkei 225 also resumed trading after a holiday to rise 0.96%, while the broad-based Topix gained 0.61%.

Persons: Australia's Organizations: Opera, Vivid, Anadolu Agency, Getty, Federal, Reserve Bank of Australia, Reuters, Nikkei Locations: Sydney, Australia, Asia, Pacific

☆ European stocks set to open higher, reflecting wider optimism in global markets
▼ + stars: | 2024-05-07 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

European markets are heading for a positive start to trading Tuesday as traders look ahead to a busy day of earnings reports in the region. BP, S4 Capital, Siemens Healthineers, Deutsche Post, Infineon, Bouygues, UBS, Adecco, Banco de Sabadell and Unicredit are among the companies reporting earnings Tuesday. Overnight, U.S. stock futures flickered near the flatline Monday evening after the Dow Jones Industrial Average wrapped its fourth positive day in a row. Asia-Pacific markets climbed overnight, extending gains from the previous session and buoyed by gains on Wall Street.

Organizations: S4 Capital, Siemens Healthineers, Deutsche Post, Infineon, Bouygues, UBS, Adecco, Banco de Sabadell, Dow Jones Locations: Asia, Pacific

☆ Asia stocks track Wall Street gains as softer-than-expected U.S. jobs data fuels rate cut hopes
▼ + stars: | 2024-05-06 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

China's and Australia's flags are seen on the tables where China's Foreign Minister Wang Yi and Australia's Foreign Minister Penny Wong held their bilateral meeting at Parliament House in Canberra on March 20, 2024. Asia-Pacific markets tracked Wall Street gains on Monday as a softer-than-expected U.S. jobs report fueled hopes that the Federal Reserve could start cutting rates soon. Investors, meanwhile, awaited the Reserve Bank of Australia's rate decision on Tuesday and China's April trade data on Thursday. ING said in a note last week that the RBA meeting was "worth watching closely," adding that recent inflation data from Australia showed growth in prices was starting to accelerate. However, the analysts said Australia's inflation data was better than they had expected, and compared to the US, the country's economy had slowed more with the labor market softening substantially.

Persons: Wang Yi, Penny Wong Organizations: House, Wall, Federal Reserve, Investors, Reserve Bank, ING, Global Locations: Canberra, Asia, Pacific, Australia, Hong Kong, China, India, Japan, South

☆ Asia markets higher as Wall Street gains ahead of key U.S. jobs report
▼ + stars: | 2024-05-03 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +1 min

A gong inside the Hong Kong Stock Exchange. China Vanke's subsidiary Onewo and EV maker Zhejiang Leapmotor Technology began trading on the Hong Kong market on Thursday. Asia-Pacific markets rose on Friday, tracking Wall Street gains ahead of key U.S. employment data. Economists polled by Dow Jones expect to see 240,000 job gains in the U.S. April nonfarm payrolls report due Friday at 0830a.m. Stock markets in Japan and mainland China were shut for public holidays.

Persons: Dow Jones, nonfarm Organizations: Hong Kong Stock Exchange, China Vanke's, Zhejiang Leapmotor Technology, Apple, Investors, U.S . Federal Reserve, Stock, U.S Locations: China, Hong Kong, Asia, Pacific, U.S, 0830a.m, Taiwan, South Korea, South, Japan

Banks jumped 0.8%, while oil and gas stocks retreated 1%. European stocks opened mixed on Thursday as global markets react to the U.S. Federal Reserve's latest monetary policy decision and a slew of corporate earnings. Federal Reserve Chair Jerome Powell said it was unlikely that the central bank's next move will be a rate hike. Asia-Pacific markets were mostly higher overnight as traders reacted to the Fed's stance, while U.S. stock futures advanced as investors looked ahead to more corporate earnings due Thursday. Dutch bank ING was 5% higher in early deals after announcing a 2.5 billion euro ($2.7 billion) share buyback.

Persons: Banks, Jerome Powell, It's, Vestas, Hugo Boss Organizations: U.S, U.S . Federal, Dow, region's, Novo Nordisk, Shell, ING, AXA, ArcelorMittal Locations: London, U.S ., Asia, Pacific, Europe

☆ European markets head for lackluster open ahead of euro zone inflation, GDP data
▼ + stars: | 2024-04-30 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

European markets are heading for a lackluster open Tuesday ahead of a busy day of earnings and major data releases in the region. Preliminary euro zone inflation data for April and first-quarter gross domestic product figures for the single currency area are due Tuesday, while earnings come from AF-KLM, Stellantis, Capgemini, Mercedes, VW, Lufthansa, Santander, Caixabank, OMV, HSBC, Glencore and Whitbread, among others. Overnight, Asia-Pacific markets largely rose on Tuesday, tracking Wall Street moves, with investors awaiting China manufacturing purchasing managers' index for April. Meanwhile, U.S. stock futures were little changed Monday night after a positive start to the week, as investors brace for megacap earnings, the latest Federal Reserve interest rate decision on Wednesday, and a jobs report. The central bank is broadly anticipated to keep interest rates steady, but traders will be looking to see if Fed Chair Jerome Powell's post-meeting comments are more hawkish after the recent spate of hotter inflation reports.

Persons: Jerome Powell's Organizations: AF, KLM, Stellantis, VW, Lufthansa, HSBC, Glencore, Whitbread Locations: Santander, Caixabank, OMV, Asia, Pacific, China

☆ Asia markets mostly rise, tracking Wall Street gains; China factory activity data on deck
▼ + stars: | 2024-04-30 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

An editorial montage of the Japan flag and Japanese yen cash bank notes. Asia-Pacific markets were largely set to extend gains on Tuesday, tracking Wall Street moves, with investors awaiting China manufacturing purchasing managers' index for April. The currency weakened to its lowest level against the U.S. dollar yesterday at 160.03, before strengthening sharply to trade around the 155 level. The Wall Street Journal, meanwhile, reported that Japan had intervened to support the yen by selling U.S. dollars and buying yen. Traders will also assess economic data from Japan and South Korea.

Persons: Masato Kanda Organizations: U.S, Street Journal, Traders Locations: Japan, Asia, Pacific, China, South Korea

☆ Asia markets rise as Fed meeting looms; Japan and China economic data in focus
▼ + stars: | 2024-04-29 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

An employee works on the assembly line of intelligent machinery at a workshop on March 31, 2024 in Qingzhou, Weifang City, Shandong Province of China. Asia-Pacific markets climbed Monday as traders look toward the Federal Reserve's meeting this week, following another hotter-than-expected U.S. inflation reading Friday. March's core personal consumption expenditures, excluding food and energy, rose 2.8% from a year ago, and came in ahead of the 2.7% expected by Dow Jones. Personal spending rose 0.8%, ahead of a 0.7% estimate. In Asia, China's official purchasing managers index for April is expected Tuesday ahead of the Labor Day holiday on Wednesday, along with Japan's industrial production and retail sales data from March.

Persons: Dow Jones Organizations: Labor Locations: Qingzhou, Weifang City, Shandong Province, China . Asia, Pacific, Asia

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