Nvidia CEO Jensen Huang delivers a keynote speech at the 2025 Consumer Electronics Show in Las Vegas, Nevada, USA on January 6, 2025.
Artur Vidak | 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
Tech stocks weigh on Nasdaq
The US market is Mixed Monday. this S&P 500 Index and Dow Jones Industrial Average rose but Nasdaq Index The decline came amid a broad selloff in technology stocks. Pan-European Stoxx 600 Index fell 0.55%, of which Most industries are in negative territory. UK borrowing costs rose on Monday, sparking concerns Public spending cuts or further tax increases.
Potential new bid for U.S. Steel
cleveland cliffs Working with competitors Nucor in a potential bid for United States Steel Corporationacquired by Japan Nippon Steel Sources told CNBC’s David Faber that the plan was blocked by the White House earlier this month. The offer will be a high share of $30. Nippon originally planned to acquire U.S. Steel for $55 per share, a deal worth more than $14 billion.
Inflation slows in India
India’s annual consumer inflation rate in December 5.22%, According to the Ministry of Statistics and Program Implementation. The reading was below the 5.30% forecast in a Reuters analyst poll and was the second consecutive monthly decline in price growth. Weak inflation data provides room for RBI to cut interest rates, amidst the slowdown in the country’s economic growth.
The Second Strike for Quantum Stocks
Quantum computing stocks sold off on Monday back Yuan Platforms CEO Mark Zuckerberg said on Joe Rogan’s podcast Friday that the technology is “a long way from being a very useful paradigm.” These comments reinforce recent comments NVIDIA CEO Jen-Hsun Huang says computers are likely to 15 to 30 years later.
(PRO) Rieder Will 100% Buy Nasdaq
The Nasdaq lagged other major indexes on Monday as investors fled technology stocks. BlackRock Rick Rieder, the company’s chief investment officer for global fixed income, told CNBC that he would “100 percent” buy stocks that fell on the Nasdaq. Reed explained his decision And how he will deploy downside protection.
bottom line
Technology stocks underperformed on Monday as investors took profits from 2024’s winners and looked for this year’s winners.
The tech-heavy Nasdaq fell 0.38%. Large technology companies popular with investors General declines during Monday’s trading session. Palantir – this Top Performing Stocks The S&P fell 3.4% last year, while Nvidia added to last week’s losses by 2%. Nvidia fell nearly 6% during the period, while Palantir fell more than 15%.
Greg Bassuk, CEO of AXS Investments, said: “We believe this is a necessary part of the correction phase, and we may be further along in this correction than many investors realize since many stocks peaked in late November, early December. It goes further.
However, as investors turn to non-tech stocks such as Amgen, caterpillar and UnitedHealth.
This is not to say that these industries will become market leaders anytime soon, or at all. Industry rotation is a common phenomenon in the market as investors secure returns and look for the next stock with upside potential. besides The background to rising interest rates Growth technology stocks are under greater pressure than the value stocks that typically make up the Dow.
In addition, judging from the latest situation, the craze for artificial intelligence is not over yet benefit Report from British Semiconductor and Foxconn, whose transactions are Hon Hai Precision Industry. Both companies’ revenue has grown significantly due to high demand for artificial intelligence-related products.
Technology and artificial intelligence are unlikely to rotate in the long term. But people in the field cannot be ignored.
—CNBC’s Samantha Subin, Hakyung Kim and Brian Evans contributed to this report.
