18 Mins Ago
European markets: Here are the opening calls
European markets are set to open in positive territory across the board, according to IG data. The FTSE 100 looks poised for a 21-point uptick to 7,482, while Germany’s DAX is forecast to open 53 points higher at 15,900. France’s CAC will be up by 22 points to 7,238, IG says, while Italy’s FTSE MIB will jump 92 points to 27,493.
— Hannah Ward-Glenton
5 Hours Ago
CNBC Pro: Fund manager makes bold call that oil prices will double, picks stocks to cash in
Bill Smead, chief investment officer at Smead Capital Management, has a bold market call: that oil prices could soar more than 100% in the next few years.
The picture painted by OPEC earlier this week also suggests strong demand well into the future.
Two fund managers name their favorite stocks to play the possible rise in crude prices.
CNBC Pro subscribers can read more here.
— Weizhen Tan
3 Hours Ago
U.S. considering new chip restrictions on China: WSJ
The U.S. is considering new restrictions on exports of artificial intelligence chips to China, according to the Wall Street Journal.
Citing people familiar with the matter, the Journal reported the U.S. Commerce Department could stop shipments of chips made by Nvidia and other companies to customers in China as early as July.
Shares of mainland Chinese semiconductor companies tumbled on Wednesday, with SMIC losing 2.42% and Hua Hong Semiconductor sliding 3.19%
— Lim Hui Jie
5 Hours Ago
CNBC Pro: Goldman Sachs names 5 tech stocks set for a profit boost, giving one 50% upside
Goldman Sachs has named the tech stocks it expects to become more profitable over the next two years.
The Wall Street bank said it has seen a shift in the mindset of company executives from prioritizing growth to profitability.
Goldman Sachs believes that the bulk of the margin expansion is yet to come as companies start to realize the full benefits of cost-cutting measures implemented in the first half of 2023.
CNBC Pro subscribers can read more about the 5 stocks here.
— Ganesh Rao
