Nvidia CEO Jensen Huang delivers a keynote speech at the Consumer Electronics Show in Las Vegas, Nevada on January 6, 2025.
Patrick T. Fallon AFP | 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. Mainly the Asia-Pacific market Trading higher on Tuesday. China’s CSI 300 index rose around 2.7%, Hong Kong stocks rose Hang Seng Index An increase of 2.3%. Japanese Nikkei 225 IndexThe only outlier fell nearly 2% as the country’s 40-year government bond yield rose to 2.766%, the highest since 2007, London Stock Exchange data showed.
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.
HSBC: China’s electric car boom will slow down in 2025
China new energy vehicle salesForecast, which includes battery-only and hybrid vehicles, will grow by just 20% by 2025 HSBC Analyst. This is a significant decrease from 42% growth in 2024, according to the China Passenger Car Association. According to the association, as of the second half of this year, the penetration rate of new energy vehicles in new car sales has exceeded 50%.
Additional chip export restrictions
The United States will impose new export restrictions The U.S. government announced on Monday that it will classify artificial intelligence chips according to the country’s classification level. For example, close allies of the United States will not face restrictions on obtaining artificial intelligence chips. Nvidia, the largest supplier of artificial intelligence chips, called the rule “overreaching” on Monday.
Will Elon Musk acquire TikTok US?
The Chinese government is considering a plan Sell ​​TikTok’s U.S. operations to Elon MuskBloomberg News report Monday, citing anonymous sources. If the U.S. Supreme Court decides to uphold a law, it would allow TikTok to continue operating in the country. Effectively banning Chinese-owned TikTok from listing in the U.S..
(PRO) Opportunities beyond the “Seven Heroes”
The S&P 500 is set to return 23% in 2024, with “Big Seven” stocks driving much of that growth. It is recommended that investors make selective investments among the “Seven Giants” and believe that these stocks still have room to rise this year. Tech stock opportunities outside the basket.
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.
