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25 minutes ago
US stocks start falling
The three major indexes fell at the start of trading on Monday.
Immediately after the opening bell, the Dow Jones Industrial Average fell more than 150 points, or about 0.4%. The S&P 500 and Nasdaq Composite each fell about 0.1%.
— Alex Harring
6 hours ago
Stocks are on the rise: Grifols is down 7.9%, Delivery Hero is up 5.7%
Shares in Spanish drugmaker Grifols fell 7.9% in early trading, continuing the decline after the stock fell 35% on Thursday on weak results.
Last week, the company reported a 72% decline in 2023 profits due to continued backlash over hedge fund Gotham City Research’s January report that called into question Grifols’ accounting and debt ratios. Trading in its shares was suspended.
Meanwhile, Germany’s Delivery Hero rose 5.7% after announcing a new loan deal that included improved terms on an existing loan facility.
— Karen Gilchrist
6 hours ago
European Central Bank expected to keep interest rates unchanged
A sculpture of the euro currency stands in the city center of Frankfurt am Main, western Germany, on January 25, 2024.
Kirill Kudryavtsev | AFP | Getty Images
The European Central Bank is expected to keep interest rates unchanged on Thursday, even as inflation shows signs of easing further.
ECB Vice President Luis Deguindos said on Wednesday that he needed to see more data on euro zone inflation, currently at 2.6%, before considering the first rate cut.
“If the forecast shows that the data we have received shows that both headline and core inflation is approaching 2%,” De Guindos told Spanish television station Antenna 3, according to Reuters. “The direction of monetary policy will change.” .
Analysts at Berenberg Economics expect a first rate cut in June as disinflation slows, eventually reaching the central bank’s 2% target by the third quarter of this year.
— Karen Gilchrist
14 hours ago
CNBC Pro: Dan Niles reveals why he likes ‘Fantastic Four’ and when the ‘AI bubble’ will burst
14 hours ago
Japan’s Nikkei Stock Average exceeds 40,000 yen for the first time as record increases continue
Friday, February 16, 2024, at the Tokyo Stock Exchange (TSE), operated by Japan Exchange Group, Inc. (JPX), Tokyo, Japan. Kosuke Okahara/Bloomberg via Getty Images
Bloomberg | Bloomberg | Getty Images
Japan’s Nikkei Stock Average hit another all-time high on Monday, exceeding the 40,000 yen level. The index had previously risen 0.8%.
The benchmark index continued its record rise, hitting a new high for the first time in 34 years.
Both the Nikkei Stock Average and the broader Topix index are among the top performers among major stock markets in the Asia-Pacific region. The Nikkei average is up more than 20% since the beginning of the year, and the TOPIX is up nearly 15%.
Strong earnings and investor-friendly policies from the Japanese government have fueled a ferocious rally in stock prices this year.
The broad-based Topix rose 0.1% on Monday after hitting a record high above the 2,700 mark last Friday.
— Shreyashi Sanyal
14 hours ago
CNBC Pro: Veteran investor picks ‘Glorious 10’ global stocks that have returned 30% annually over the past five years
Last year, stocks from big U.S. tech companies performed prominently, as investors flocked to the so-called “Magnificent Seven” stocks, including Alphabet, Amazon, Apple, Metaplatform, Microsoft, Nvidia and Tesla.
Collectively, these stocks powered much of the rally that pushed the benchmark S&P 500 index up about 25% in 2023.
But veteran investor and trader Adam Reynolds is looking beyond US technology to 10 lesser-known gems from Europe, Japan and Australia.
these The stock has a market capitalization of more than $50 billion and has experienced a total annual growth rate of at least 30% over the past five years.
CNBC Pro subscribers can read more here.
— Amara Balakrishna
10 hours ago
European Market: Click here for opening call
European markets are set to start the week mixed.
According to IG data, the UK’s FTSE 100 index is expected to open 15 points lower at 7,673, Germany’s DAX up 22 points to 17,754, France’s CAC up 10 points to 7,937 and Italy’s FTSE MIB. It is expected to rise 17 points to 32,974.
I don’t have a big income. The data release includes Turkey’s inflation statistics for February.
— Holly Ellyatt
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