CNBC Daily Open: Higher manufacturing prices gave markets a bad start to March
Publishing timestamp: 2023-03-01 18:42:44
Summary
Markets had a bad start to March due to hawkish Fed officials and higher manufacturing prices. Tesla CEO Elon Musk unveiled his "Master Plan 3" but didn't give specifics on achieving the goal. The U.S. Senate passed a bill overturning a Labor Department rule allowing retirement fund managers to consider environmental, social, and corporate governance factors when making investment decisions. Salesforce shares jumped after their fiscal fourth-quarter earnings and operating margin beat estimates. The February ISM Manufacturing Index showed that the overall manufacturing sector contracted for the fourth consecutive month, but prices paid by manufacturers increased from January.
Sentiment: MIXED
Keywords: germany, business news, united states, elon musk, politics, joe biden, technology, world markets, federal reserve bank, salesforce inc, markets, inflation, neel kashkari, tesla inc,
Source: https://www.cnbc.com/2023/03/02/stock-markets-higher-manufacturing-prices-weighed-down-markets.html