On October 30, 2023, in Central Park, New York, the United States, a man wore a Halloween pumpkin on his head, and the leaves changed colors, showing autumn colors.
Fatihfa | Anadolu | 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
rebound tension
US stocks rebound on tuesdayall major stock indexes rose. In particular, the rise in technology stocks has led to a rise in the stock market Nasdaq Index. Asia Pacific market Mixed Wednesday. Chinese Shanghai Composite Index After surging in early October, it fell about 4.9%. Hong Kong Hang Seng Index It rose 0.5%, recovering slightly from Tuesday’s 9.41% plunge, its worst day in 16 years.
Google, it’s not me, it’s you
Break up Google This is a recommendation from the U.S. Department of Justice to correct the tech giant’s monopoly in the search market – a ruling The court reached an agreement in August After the U.S. government filed a lawsuit Google 2020. Breakup is unlikely The court will order Google to pursue other remedies.
cooling oil price
crude oil price Tuesday’s decline in reports new york times and jerusalem post Israel may focus on attacking Iranian military bases retaliate against missile attack. West Texas Intermediate crude oil and Brent crude oil futures both fell 4.63% during U.S. trading on Tuesday, ending the explosive gains in oil prices over the past week.
New Zealand cuts interest rates
Reserve Bank of New Zealand Cut interest rates by half a percentage point Wednesday. This is the second consecutive interest rate cut after the New Zealand Federal Reserve unexpectedly cut interest rates by 25 basis points in August. Paul Bloxham, chief economist for Australia and New Zealand at HSBC, told CNBC that the central bank may cut interest rates again by half a percentage point in November.
(PRO) Is it time to invest in China?
China’s blue-chip CSI 300 Index rose 5.93% on Tuesday after the market ended its seven-day Golden Week holiday. However, there are signs that the fiery rally is cooling. As of Wednesday morning, the CSI 300 Index is currently down about 3.6%. With such a volatile backdrop, CNBC Pro asked two strategists if now is the best time? When to invest in China.
bottom line
October in America is pumpkin spice season, but the month also holds a dangerous edge to Halloween.
The market in October was indeed alternately panicked and reassured.
After falling 0.96% on Monday, S&P 500 Index It rose 0.97% on Tuesday. (It should be noted, though, that this doesn’t necessarily mean the S&P erased its losses and gained 1 basis point from Monday to Tuesday. Percentages are difficult to determine.)
same, Nasdaq Index Down 1.18% on Monday but up 1.45% yesterday, higher on gains in tech stocks NVIDIA, Palo Alto Networks and Yuan. this Dow Jones Industrial Average There were no such dramatic moves, falling 0.94% on Monday, but rising 0.3% on Tuesday.
Well, October certainly lives up to its name. The most volatile months for the stock market. But investors should remember that disturbing market swings aren’t always a good sign of a stock’s underlying health.
“While we expect continued volatility in October, we do not view overall market trends as bearish and encourage investing,” Robert Sluymer, technical strategist at RBC Wealth Management, wrote in a letter to clients. Investors maintain their view on long-term trends.
Investment bank Piper Sandler shares the same sentiment about October’s turmoil. “Historically, October is a ‘support and fill’ month as investors take stock of third-quarter earnings results,” Chief Market Technician Craig Johnson wrote in a note on Tuesday. react.
In fact, Johnson said that when stocks fall due to a mild repricing or correction, it’s a good opportunity for investors to take advantage and buy.
So, if investors can seize the right opportunity to enter the market or further consolidate their positions, the see-saw trend of the stock market in October will be pretty good. This season doesn’t always have to be creepy.
– CNBC’s Hakyung Kim, Samantha Subin and Alex Harring contributed to this article.
