52 minutes ago
German economic sentiment falls short of expectations
What is the German economic outlook? May was stagnant, A survey by the country’s Ifo institute showed improvement for the third consecutive month.
“Sentiment among German businesses remains unchanged. The ifo business climate index remained at 89.3 points in May. Companies are not satisfied with the current business situation, but expectations are rising,” the institute’s report said.
The index was at 89.3, below a Reuters forecast of 90.4.
The report said manufacturing, trade and construction were recovering, while services declined slightly.
Natasha Turak
2 hours ago
ECB President Olli Rehn says time is ‘ripe’ to cut interest rates in June
Olli Rehn, governor of the Bank of Finland and a member of the European Central Bank’s governing council, said on Monday that inflation in the region was falling “sustainably.”
“Thanks to this denlation process, inflation is now converging sustainably towards our 2% target, providing an opportune time to ease the stance of monetary policy and begin cutting interest rates in June.” He said in his speech: It was published on the website of the Bank of Finland.
“This obviously assumes that disinflationary trends continue and that there are no further setbacks in the geopolitical situation or energy prices.”
Eurozone inflation remained steady at 2.4% in April. Despite a slight recovery in December, headline inflation remained below 3% for the seventh consecutive month.
Inflation figures for May are due to be released on Friday.
Katrina Bishop
2 hours ago
European markets rise
European markets were broadly up, albeit slightly, at the start of trading on Monday.
See the chart…
European Stocks
As of 8:40 a.m. London time, France’s CAC 40 was up 0.13%, Germany’s DAX was up 0.16%, Spain’s Ibex 35 was up about 0.17% and Italy’s FTSE MIB was flat.
UK markets are closed for a national holiday.
Katrina Bishop
3 hours ago
European markets expected to open higher
France’s CAC 40 is expected to open up 5 points at 8,098, while Germany’s DAX is expected to open up 17 points at 18,709.
Italy’s FTSE MIB is expected to rise by 15 points, while Spain’s IBEX is expected to rise by 12 points.
UK markets are closed for a national holiday.
Katrina Bishop
Friday, May 24, 2024 2:44 PM EDT
Strategists say there are signs of market expansion
Ross Mayfield, investment strategy analyst at Baird, said the signs of expansion come even as big technology companies are driving the market and dominating the headlines.
“Last year there was a lot of fear around concentration in big tech stocks, but in recent months the market has expanded significantly,” Mayfield said.
“While concentrated markets have not historically produced poor returns, a wider range in the number of individual stocks or sectors doing well (more legs on the stool, so to speak) is usually a sign of a healthier economy,” he wrote.
— Kim Hagyeong
4 hours ago
Indian stocks hit intraday high for third consecutive day
India’s major equity indexes hit a fresh intraday high for the third consecutive day, with the Nifty 50 index up 0.15 percent and the S&P BSE Sensex Total Return index up about 0.25 percent.
So far this year, the BSE Sensex has risen 4.6% while the Nifty 50 has gained 5.8%, according to LSEG data.
The Reserve Bank of India last week approved a cash injection of 2.11 trillion rupees ($25.3 billion) to the government, its largest-ever dividend, well above analysts and the government’s expectations.
Attention is also focused on the Indian general election that began on April 19. Prime Minister Narendra Prime Minister Modi was quoted as saying: The stock market is likely to hit new highs on June 4th, when the 2024 election results are announced.
Modi is expected to win a third term in power..
Shreyasi Sanyal
10 hours ago
CNBC Pro: Overinvested in Nvidia? Here are some alternative growth stocks
Investor favorite Nvidia continued its artificial intelligence boom, reporting better-than-expected profits last week.
“The biggest question that remains is how long this runway is,” said Lucas Kaye, an analyst at research firm Third Bridge.
Wall Street remains largely bullish on Nvidia, but investors concerned about being overinvested in the company or looking to better balance their portfolios may want to consider shifting their allocation to Nvidia or supplementing it with other growth stocks that are less correlated to the chipmaker.
CNBC Pro subscribers can find more details here.
Wei-Jen Tan
Friday, May 24, 2024, 3:42 PM EDT
Nvidia shares up 15% for the week
Chipmaker Nvidia is up 15% this week, with the company’s shares soaring after a better-than-expected quarterly profit report on Wednesday that showed demand for its artificial intelligence chips remained strong.
Following the earnings report this week, the stock price surpassed $1,000 for the first time.
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NVIDIA Stock Price This Week
10 hours ago
CNBC Pro: Silver vs. Gold: Bank of America launches four ‘attractive’ ETFs to gain exposure to precious metals
With gold prices hitting all-time highs and silver prices rising to multi-year highs, Bank of America has identified four exchange-traded funds (ETFs) that offer attractive exposure to precious metals.
These funds reflect a basket of physical precious metals with varying allocations to silver, gold, palladium and platinum.
The bank’s research found that since 1945, a portfolio with 40% invested in broad-based products has outperformed a portfolio with 40% invested in U.S. Treasury bonds by 0.8% per year.
CNBC Pro subscribers can find more details here.
Ganesh Rao
