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Germany’s industrial production unexpectedly fell in November
Germany’s industrial production unexpectedly fell in November compared to the previous month, the Federal Statistical Office said on Tuesday.
Production fell 0.7% month-on-month on a seasonally and calendar-adjusted basis, down from an upwardly revised 0.3% decline in October.
This contraction marks the sixth consecutive month of decline.
— Karen Gilchrist
4 hours ago
CNBC Pro: As demand for AI grows, BofA expects stock prices of three major suppliers to soar more than 35%
Stocks dabbling in artificial intelligence (AI) themes are gaining a lot of support from market watchers, including Bank of America.
Analysts at the bank, led by Robert Chen, said some investors expect the ongoing boom to be “short-lived,” like the internet bubble of the 1999s and the virtual reality (VR) era of the 2020s. remain optimistic about AI, despite
“We believe that AI is different because the key players are global CSPs (cloud service providers) and enterprises. [as compared to] Primarily focused on startups [the] “The consumer market during the Internet and VR bubble,” they explained.
The investment bank highlights thematic opportunities, naming three top stocks that currently have a potential for upside of 35% or more.
— Amara Balakrishna
9 hours ago
CNBC Pro: ‘One of the best valuations for AI’: A strategist says this big tech stock is a hot buy
Nvidia is an investor favorite when it comes to artificial intelligence.
But other technology companies are also keen to expand their capabilities in this area, and one strategist says one is undervalued by the market.
“But if there is a downside, if we see further weakness from what we saw in the first half of this year, then continue to build positions, because we are a quality stock with a fortress balance sheet.” he said.
CNBC Pro subscribers can read more here.
— Tan Weizhen
9 hours ago
CNBC Pro: Morgan Stanley names ‘most preferred’ European internet stocks, giving each stock 70% upside potential
European internet stocks are on track to rise in 2024 thanks to improving fundamentals and lower interest rates, according to Morgan Stanley.
Analysts at Wall Street banks said they were “positive about the sector,” citing customer growth, corporate cost discipline and valuations supported by lower interest rates.
CNBC Pro subscribers can read more about investment banking stock picks here.
— Ganesh Rao
4 hours ago
European Market: Click here for opening call
European markets are set to open in positive territory on Tuesday.
According to IG data, the UK’s FTSE 100 index rose 28 points to 7,713, Germany’s DAX rose 47 points to 16,571, France’s CAC rose 27 points to 7,470 and Italy’s FTSE MIB rose 88 points. It is expected to start at 30,745.
Germany’s industrial production statistics for November will be announced.
— Holly Ellyatt
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