An employee removes silver bars for sale from a shelf at a Costco in Bayonne, New Jersey, U.S., Friday, October 4, 2024.
Clark Hawking | Bloomberg | Getty Images
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.
What you need to know today
Colombia to face Trump tariffs for first time
President Trump wrote On his social media platform Truth Social, he will Immediately impose a 25% tariff Tariffs on goods from Colombia will be increased to 50% within a week and other punitive measures will be imposed on the Colombian government. American consumers may have to Pay more for coffee, crude oil and cut flowers From Colombia.
U.S. stocks rise for second week
Major U.S. stock indexes retreated on Friday but remained Close higher this weekrising for the second consecutive week. Pan-European Stoke 600 fell slightly by 0.05%, but Closed the week up more than 1%. Burberry Up about 10% Sales fell less than expected During the fiscal third quarter, while Ericsson The company fell more than 12% after hours missed estimate its fourth-quarter earnings.
Alphabet’s new highs
letter stock Friday’s closing price was $200 For the first time, it is carried out on the basis of split adjustment. company implemented A 20-for-1 stock split in 2022. Morgan Stanley Analysts on Friday highlighted the opportunities presented by Alphabet’s artificial intelligence agent products.
Millions of investments
Yuan CEO Mark Zuckerberg announced on Friday that the company plans to Invest approximately $60 billion to $65 billion in capital expenditures 2025. After the news was announced, Meta’s stock price closed at $647.49, a record high.
Trump’s intentions for TikTok
Trump is making a deal Save TikTok’s U.S. businessReuters reported, citing two people familiar with the matter. Sources said the deal would involve Oracle. However, Trump denied Oracle’s involvement in comments to reporters aboard Air Force One on Saturday, saying “very fulfilling personDiscussions are ongoing with him about acquiring TikTok. Restoration of Byte Bounce Proposal.
(PRO) Profit dominated this week
meta platform, Microsoft and Tesla Earnings are reported Wednesday, followed by apple Thursday – Analysts think the reports could Determine market direction. Meanwhile, the Federal Reserve is set to wrap up its meeting on Wednesday, when investors will be closely watching Chairman Powell’s comments for hints on the direction of interest rates.
bottom line
this S&P 500 Index The index has been moving sideways since its big post-election rally in November – in fact, it ended 2024 below where it was in early December.
There are signs that the market is finally emerging from hibernation. While some of the Big Seven stocks underperformed on Friday, Alphabet and Meta Platforms both closed at record highs on optimism about their artificial intelligence products.
Although all major U.S. benchmarks fell on Friday, they ended the week higher for the second consecutive time. S&P and Nasdaq Index Both rose about 1.7% last week, while Dow Jones Industrial Average up 2.2%.
The S&P closed at a new high on Thursday and set a fresh intraday high in Friday trading. Impressively, it took just eight trading days for the index to rebound from two-month lows to a new all-time high, famous Jason Goepfert, founder of Sundial Capital Research.
The rapid turnaround shows investors are increasingly convinced the bull market is returning.
Some of these sentiments can be traced back to Trump Comment At the World Economic Forum in Davos, Switzerland, ensure “Demand for an immediate reduction in interest rates” and Comment He will “ask Saudi Arabia and OPEC to lower the cost of oil”.
Generally speaking, lower interest rates boost economic activity, while cheaper oil reduces costs for businesses.
But some analysts worry investors may just be cheering for a phantom.
“The market has reacted to every statement from the president so far, even the ones that shouldn’t have any impact,” said Mark Malek, chief investment officer at Siebert. “This shows that traders haven’t gotten into their rhythm yet. “
In fact, a more realistic market sentiment may be interpreted from the price of gold. Spot gold prices rose to their highest level in nearly three months on Friday, showing some investors are turning to the precious metal for safety amid uncertainty.
For those chasing the bull market, it might be worth hearing what gold has to say first.
—CNBC’s Alex Harring, Yun Li and Sarah Min contributed to this report.
