Strong earnings and macro environment drive stocks higher | 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.

Markets rise on earnings optimism
US stocks resume on wednesdayas Morgan Stanley and United Airlines Profit exceeded expectations. Asia Pacific market Mixed Thursday. The CSI 300 real estate index fell nearly 7% despite Beijing announcing new measures to support the industry.

Follow the ECB decision-making time immediately
Market observers expect the European Central Bank to Cut interest rates by 25 basis points at a meeting later today. If this prediction comes true, it will be the third rate cut by the European Central Bank this year. Focus on today’s activities decision timeCNBC’s live show analyzing the decision, starting at 1pm BST.

New support measures for real estate
China’s Ministry of Housing and Urban-Rural Development said on Thursday it would expand “whitelist“The initiative is implemented for all commercial housing projects with the aim of completing the construction of unfinished residences. The Ministry of Industry and Information Technology also announced that bank loans to developers will be accelerated. Doubled to 400 trillion yuan By the end of 2024, 2.23 trillion yuan has been approved.

Intel’s Potential Probe
Intel is potential Facing security review Sponsored by China Internet Security Association. Officials accuse Intel of security management vulnerabilities and product quality defects in its CPU chips. CSAC also accused Intel of using remote management capabilities to spy on users.

(PRO) A shiny industry that’s neither tech nor utilities
Big tech stocks have driven much of the market’s gains this year, fueled by excitement about generative artificial intelligence. Gen AI is powered by energy-intensive data centers, which benefits the utility sector. But there’s a new group of stocks that are quickly becoming one of the Best performing industries of the year.

After falling from 43,000 points on Tuesday, Dow Jones Industrial Average It rose 0.79% on Wednesday and broke through this level again, closing at 43,077.70 points.

this S&P 500 Index up 0.47% Nasdaq Index Add 0.28%.

The market is basking in the glow of a positive earnings season so far. FactSet data shows that of the 50 S&P companies that reported profits, about 80% exceeded expectations.

Morgan StanleyFirst, the reported third quarter data shows that Exceeded profit and revenue expectations. The bank’s profits jumped 32% from a year ago, well ahead of London Stock Exchange Group’s forecasts and outpacing revenue growth at several other big banks.

Investment banking is Morgan Stanley’s main source of profit. Initial public offerings and mergers and acquisitions are coming out of hibernation, backed by the start of a rate-cutting cycle by the Federal Reserve, breathing new life into Wall Street banks.

Morgan Stanley shares rose 6.5% after reporting results. this SPDR S&P Bank ETF It has risen more than 6% in the past five trading days. In another sign of broader gains, banking ETFs outpaced the S&P 500’s gain of less than 1% over the same period.

“We expect the macroeconomic and earnings environment to remain favorable, which will support continued investment in equities,” UBS said.

With monetary policy loose, the economy remaining strong and inflation cooling – import prices fell 0.4% in September, according to the Labor Department – stocks look to have the stamina to continue higher.

– CNBC’s Hugh Son, Alex Harring, Jeff Cox, Lisa Kailai Han and Jesse Pound contributed to this article.