CNBC Daily Open: Trump assassination attempt | Real Time Headlines

This report comes from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open keeps investors updated on everything they need to know, no matter where they are. Like what you see? You can subscribe here.

Trump assassination attempt
this attempted assassination former president’s Donald Trump An attendee and the gunman died and two other attendees were in critical condition at a rally in Pennsylvania on Saturday. Trump is Grazed by a bullet and was treated at a local hospital but released late Saturday night. The FBI has The shooter was identifiedDeceased, Thomas Matthew Crooks, 20, of Bethel Park, Pa.; you can find more Live updates here.

The Third Plenary Session of the CPC Central Committee
China’s real estate problems may be serious, but analysts expect to come Third Plenary Session of the CPC Central Committee arrive Pay attention to high local government debt levels Promote advanced manufacturing. Larry Hu, chief China economist at Macquarie, told CNBC: “Beijing’s main challenge is to find an alternative fiscal system, as the current fiscal system, which relies heavily on land sales, has collapsed due to the collapse of the land market. Under intense pressure. The much-anticipated delayed policy meeting, scheduled for Monday to Thursday, is a key gathering of top members of China’s ruling Communist Party that usually takes place every five years, explains CNBC’s Evelyn Cheng. How investors are getting involved in the biggest political story in six years.

Dow Jones surpasses 40,000 again
this Dow Jones Industrial Average hit record high Closed above 40,000 for the first time since Maydriven by revenue The Home Depot and caterpillarThat comes as investor sentiment shifts away from big tech stocks and toward some industrial stocks. The move came as weaker-than-expected inflation reports raised hopes of a rate cut from the Federal Reserve. this S&P 500 Index and Nasdaq It also rose, but not as much as the Dow, which rose 1.6% for the week. this Russell 2000 The company also posted notable gains, rising 6% amid growing optimism about smaller companies. For further reading, CNBC’s Michael Santoli analyzes 21 months long and a focus away from big tech companies.

Google’s biggest deal?
Google’s parent company letter yes Deal approaching $23 billion to acquire WizAccording to the Wall Street Journal citing sources, this is an Israeli cybersecurity startup focusing on cloud security. The acquisition will be Google’s largest ever. Founded in 2020, Wiz has grown rapidly and received investment from well-known companies such as Sequoia Capital and Insight Partners. The potential deal reflects Google’s increasing focus on enhancing its cybersecurity products and cloud computing capabilities.

Dimon inflation warning
CEO of JPMorgan Chase Jamie Dimon warns that inflation and interest rates may remain high Although price pressures have eased recently. He sees large fiscal deficits, infrastructure needs, trade restructuring and global remilitarization as persistent inflationary forces. “As a result, inflation and interest rates are likely to continue to be higher than market expectations,” Dimon said. his comments as Wall Street giants’ profits beat expectationsThis contrasts with the recent market optimism stemming from a fall in inflation in June, which prompted speculation of a rate cut.

(PRO) Preparing for the Election
With the U.S. presidential election approaching and the stock market hitting all-time highs, professional investors are emphasizing portfolio diversification to reduce risk. Despite a brief downturn due to a rotation into large-cap growth stocks, the market rebounded to set new records. This is How professional investors prepare for the presidential election

Billionaire Elon Musk and Bill Ackerman soon Support former President Donald Trump After an assassination attempt was made against him. Although Musk has publicly opposed President Biden’s re-election, he has not previously endorsed Trump. However, Bloomberg reported on Friday that Musk has made “substantial” undisclosed donations to pro-Trump super PACs.

Saturday’s assassination attempt Increases Trump’s chances of winningReuters quoted investors as saying. Trump’s chances of winning election rise to 66% after shootingaccording to data from political betting platform PredictIt.

Meanwhile, Democrats are facing a crisis of confidence amid President Joe Biden’s poor debate performance. As major donors withhold funds, Sen. Bernie Sanders urges Democrats to “stop arguing” and rallied behind Biden, even though he acknowledged that Biden was “not the ideal candidate.”

Politicians generally condemned the assassination attempt on Trump, and corporate America also made their views known. Apple CEO Tim Cook said on X: “I strongly condemn this violence” CEO of Microsoft Satya Nadella and Google C.E.O. Sundar Pichai Similar views were expressed.

Prior to the recent political turmoil, much of the market was focused on whether the political situation would change on Thursday. Inflation caused spin This isn’t just a blip.

“Historically, when the market undergoes a significant one-day rotation from large-cap to small-cap stocks, the trend tends to continue for the next four weeks. When examining the top 5 companies, the performance of the 10 largest companies Trailing the rest of the market -4.8 Importantly, the S&P 500 is up 4.5% over the same period,” UBS strategist Patrick Palfrey said in a note to clients.

Not everyone is convinced. Wells Fargo analyst Christopher Harvey said better profit expectations are needed in order to describe the market move as a rotation rather than a rebound. “If we see stocks stop falling on bad news, we will embrace the ‘rotation,'” he wrote on Friday. “For now, we remain concerned about earnings, especially earnings for SMID stocks.”

Harvey said that in addition to lowering interest rate expectations, the so-called “great rotation” also requires profit optimism. Although consumer price index reading On interest rates, he still sees concerns about corporate finances deltaof Revenue weaker than expected. “We’re seeing an oversold bounce, not a rotation,” he said.

CNBC’s Lisa Kailai Han notes that with stocks hitting record highs and the election just months away, professional investors have Provide advice on portfolio diversification.

— CNBC’s Brian Evans, Hakyung Kim, Alex Harring, Kevin Breuninger, Lisa Kailai Han, Jesse Pound and Rohan Goswami contributed to this report.