CNBC Daily Open: Chilling effect
Publishing timestamp: 2023-08-10 20:07:35
Summary
The consumer price index in the U.S. rose 3.2% in July, driven mainly by shelter costs. This was slightly less than expected and suggests that inflation may be losing its grip on the economy. The stock market reacted favorably to the tame inflation reading, with the Dow Jones Industrial Average and S&P 500 edging higher. Alibaba reported strong earnings, while Semiconductor Manufacturing International Corp. reported a narrower-than-expected slide in net income and revenue. Ukraine's navy announced temporary trading corridors for vessels, but also warned of the continued risk of attack from Russia. President Biden issued an executive order restricting U.S. technology investment in China, which could make it more difficult for American capital to flow into the country.
Sentiment: MIXED
Tickers: 981-HK, .IXIC, DIS, .DJI, BABA, NVDA, .SPX,
Keywords: semiconductor manufacturing international corp, inflation, alibaba group holding ltd, nvidia corp, world markets, prices, united states, economic events, business news, breaking news: technology, nasdaq composite, s&p 500 index, dow jones industrial average, technology, markets, walt disney co,
Source: https://www.cnbc.com/2023/08/11/cnbc-daily-open-chilling-effect.html