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Traders work on the floor of the New York Stock Exchange during afternoon trading on January 17, 2024 in New York City.
Michael M. Santiago | Getty Images News | Getty Images
This report is from today’s CNBC Daily Open, our new international markets newsletter. The CNBC Daily Open provides investors with everything they need to know, no matter where they are. Like what you see?You can subscribe here.
What you need to know today
Dow ends three-day decline
Excellent company Dow Jones Industrial Average It rose after three consecutive days of declines on Thursday, and other major indexes also ended higher. Wall Street indexes were boosted by a 3.3% rise in stock prices. apple Bank of America upgraded the company’s rating to “buy.” European stocks also closed higher, but shares in British luxury watch retailer Watches of Switzerland fell 36% after the company cut its full-year outlook.
Disney’s new activist target
Activist investor Nelson Peltz has his eye on Disney.Mr. Peltz’s Triumph Fund Management and former disney Chief Financial Officer Jay Laslo plans to launch a proxy fight to win a seat on Disney’s board of directors. Peltz said in an interview with CNBC that if he’s elected, he and Laszlo will be like “Batman and Robin.”
India causes ripples at Davos
India is increasing its appeal and appealing to investors at the World Economic Forum in Davos, Switzerland. The world’s most populous country touted three key elements: its growth story, digital infrastructure and burgeoning startup ecosystem. India’s leading technology companies also showcased their use of artificial intelligence at the forum.
Bitcoin is $40,000
Bitcoin On Thursday, the stock price reached the $40,000 level amid a sharp decline in cryptocurrencies. Analysts characterized the decline as a “post-ETF correction” as investors piled in money. The world’s most popular cryptocurrency soared last week ahead of regulatory approval for a much-anticipated Bitcoin ETF.
[PRO] for next week’s earnings
With earnings season in full swing on Wall Street, professionals are highlighting some stocks to watch. Analysts have been raising their expectations for these companies ahead of their quarterly reports, making tech stocks a hot sector. S&P500. Still, earnings across the S&P 500 are expected to decline 6% in the fourth quarter.
conclusion
The week is ending on a positive note as US markets end their losing streak and headlines from across the Atlantic in Davos grab attention.
The Dow Jones Industrial Average ended 0.54% higher, ending a three-day losing streak. Nasdaq Composite It rose by 1.35%.benchmark S&P500 It ended the day 0.88% higher, about 0.33% off its record closing price.
Wall Street got a boost from Apple after Bank of America raised its stock price. Semiconductors rose after Taiwan Semiconductor Manufacturing Co., the world’s largest chipmaker, reported better-than-expected fourth-quarter results.US listed stocks TSMC It rose by 9.8%.
India, the world’s most populous country, attracted attention at Davos by touting its growing economic power.
“India does have a big presence. India has some of the most popular spots on the main promenade for tech companies,” Ravi Agrawal, editor-in-chief of Foreign Policy and former CNN India bureau chief, told CNBC. . “As China’s economy slows, India’s relatively rapid growth stands out as a clear opportunity for Davos investors looking for bright spots.”
The topic of Donald Trump also attracted attention at Davos. A theme that emerged was that while top executives in the United States have no problem with the idea of Trump returning for a second term, those in other countries are concerned about such a scenario. It was something. A major source of these concerns was President Trump’s hardline policies, including increasing the risk of immigration and potential conflict.
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