An Hour Ago
Europe stocks head for muted open
European stocks will open mixed Monday, according to IG data.
The FTSE 100 is on course to slip 6.5 points to 7,497, France’s CAC 40 to rise 4.5 points to 7,240 and Germany’s DAX to drop 9 points to 15,913.
— Jenni Reid
7 Hours Ago
CNBC Pro: Will the ‘Magnificent Seven’ have another good run in 2024? Morgan Stanley’s Mike Wilson weighs in
Much of the gains in the S&P 500 this year can be attributed to the “Magnificent Seven” stocks.
The group comprises Apple, Amazon, Alphabet, Meta, Microsoft, Nvidia and Tesla, some of which have benefited from the buzz around artificial intelligence
But can the Magnificent Seven continue to beat the market in 2024? Mike Wilson, chief U.S. equity strategist at Morgan Stanley, weighs in — and shares how to invest in 2024.
CNBC Pro subscribers can read more here.
— Weizhen Tan
6 Hours Ago
Nikkei 225 briefly touches 33-year highs, highest since May 1990
Japan’s Nikkei 225 briefly touched 33 year highs on Monday morning, with the benchmark Nikkei 225 reaching an intraday a high of 33,848.98.
This surpassed the previous high of 33,753 seen on March 7, and its the highest level since May 1990.
However, the index soon fell after surpassing the high, recording a 0.07% loss compared to its last close.
7 Hours Ago
China keeps one-year and five-year loan prime rates unchanged for November
China’s central bank has held its one-year and five-year loan prime rates at 3.45% and 4.2% for November.
This is the third straight month that the People’ Bank of China has held the one-year LPR after lowering it from 3.55% to 3.45% in August.
The five year LPR meanwhile, has been held at 4.2% for five consecutive months, having been last lowered in June from 4.3%.
— Lim Hui Jie
7 Hours Ago
CNBC Pro: Time to buy the dip in Alibaba shares after the stock tanked? Here’s what analysts say
Shares of Chinese e-commerce giant Alibaba tumbled after the company scrapped plans to spin off and list its cloud computing business.
While investors have largely reacted negatively to the company’s decision, some on Wall Street have welcomed the move.
CNBC Pro subscribers can read more about what analysts at Morgan Stanley, JPMorgan, Bernstein and Barclays are saying about Alibaba here.
— Ganesh Rao
