35 Mins Ago
Europe stocks open lower
European stocks were lower in early trade, with the Stoxx 600 index down 0.6% at 8:05 a.m. London time.
All sectors were in the red as mining stocks led declines, falling 1.2% after Chinese service activity missed expectations in a sign of a slowing economic recovery.
Germany’s DAX and France’s CAC 40 were both around 0.6% lower, while the U.K.’s FTSE 100 was down 0.4%.
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Stoxx 600 index.
2 Hours Ago
German auto manufacturers’ expectations plunge
Future business sentiment among German automotive manufacturers fell sharply in June, according to a survey by the ifo Institute.
While a score assessing their current situation rose to 37.5 points from 28.4 points, expectations dropped to minus 56.9 points from minus 10.3 points.
The fifth consecutive decline takes expectations to their lower level since the 2008 global financial crisis.
Automotive suppliers said their current situation as well as future expectations were worse as they struggle with a lack of demand from abroad.
— Jenni Reid
2 Hours Ago
European markets: Here are the opening calls
European stocks are heading for a fall at Tuesday’s open. The U.K.’s FTSE 100 is set to open 5 points lower at 7,512, according to data from ig.com. Germany’s DAX is on course to dip 22 points to 16,012, with France’s CAC down 15 points to 7,349 and 48 points at 28,416.
— Jenni Reid
5 Hours Ago
CNBC Pro: Goldman Sachs says A.I. will ‘super-charge’ music creation and names 5 stocks to buy
The music industry is set for a radical shift due in part to generative AI, according to Goldman Sachs, which described the new technology as providing “significant opportunities” for the sector.
It named five buy-rated stocks to play the trend. All of the stocks are on its conviction list of top stocks.
Pro subscribers can read more here.
— Lucy Handley
5 Hours Ago
China services activity remains in expansion territory as growth rate slows
China’s service sector activity remained in positive territory for a sixth straight month, according to a Caixin/S&P Global survey released on Wednesday.
The Caixin services purchasing managers index for June came in at 53.9, a slower rate of expansion than the 57.1 recorded in May.
The survey said “business activity and new orders both expanded at notably slower rates than seen in May, as some firms reported softer than expected market demand.”
— Lim Hui Jie
7 Hours Ago
CNBC Pro: Goldman’s list of top picks to buy right now includes these 6 Asian stocks
Goldman Sachs is positive on a number of Asian markets right now, despite what it expects to be a “subdued” third quarter of the year.
The bank screened for global stocks with improving earnings growth momentum, stable earnings per share revisions and reasonable valuations.
The list includes Alibaba and more.
CNBC Pro subscribers can read more here.
— Weizhen Tan
7 Hours Ago
CNBC Pro: Ed Yardeni upgrades his U.S. growth forecasts, says a unique factor will cushion the economy
The U.S. economy has shifted from a “rolling recession” to a “rolling recovery,” according to market veteran Ed Yardeni.
Speaking to CNBC’s “Squawk Box Asia,” the president of Yardeni Research said he has upgraded his U.S. GDP forecasts for this year and next as one unique factor was softening the impact of rising interest rates on the U.S. economy.
CNBC Pro subscribers can read more here.
— Ganesh Rao
