7 Hours Ago
CNBC Pro: Morgan Stanley reveals 6 of its top China stocks, including a chipmaker it expects to soar 80%
While the market might be uncertain, Morgan Stanley believes there are still opportunities for investors in China.
The bank pointed to initiatives within companies that could lead to “alpha generating opportunities” and give them a competitive advantage.
— Weizhen Tan
9 Hours Ago
All eyes on June payrolls report due Friday
June’s payrolls report – the big event on investors’ radar in this holiday-shortened week – will be released Friday at 8:30 a.m. ET.
Economists polled by Dow Jones anticipate payrolls climbed by 240,000 last month, which would suggest a cooling from May’s gain of 339,000 positions. They are also estimating that the unemployment rate ticked down to 3.6%, compared to May’s rate of 3.7%.
Investors hope Friday’s report will show signs of wage growth moderating. Economists predict that average hourly earnings climbed by 0.3% in June and rose 4.2% from 12 months prior.
The report takes on a special importance for investors, who have been waiting for signs that the Federal Reserve’s last 10 rate hikes have been cooling the economy. The central bank skipped an increase in June, but market participants anticipate a quarter-point boost at the July meeting, according to CME Group’s FedWatch Tool.
Read more about what’s ahead for June’s jobs report here.
–Darla Mercado, Jeff Cox
7 Hours Ago
CNBC Pro: Real or bubble? Goldman Sachs analysts give their verdict on the rally in A.I.-focused stocks
Goldman Sachs analysts have given their verdict on the double or triple-digit rallies in the shares of A.I.-focused stocks.
In addition to naming the stocks exposed to the theme, the Wall Street bank’s analysts also said investors were focused on the new technology over its potential to lift personal and professional productivity worldwide.
— Ganesh Rao
4 Hours Ago
Asia snapshot: Major indexes follow Wall Street’s sell-off on rate hike jitters
Major indexes in the Asia-Pacific tracked Wall Street’s losses and fell for a second consecutive day as rate hike fears drove investor sentiment.
Japan’s Nikkei 225 marked its fourth straight of declines and traded 0.46% lower, having lost 2.7% for the week.
Australia’s S&P/ASX 200 saw a third day of declines and fell 1.48% on Friday afternoon. The index shed nearly 2% this week.
South Korea’s Kospi fell 2.14% this week so far and last traded 1.32% lower.
Hong Kong’s Hang Seng index lost 3.32% in the past five days of trade and fell 1% on Friday.
Singapore’s Straits Times Index also shed more than 2% in the week so far.
— Jihye Lee