CNBC Daily Open: There’s a new narrative in markets
Publishing timestamp: 2023-08-13 19:54:42
Summary
The article discusses the mixed performance of U.S. stocks, with the Dow Jones Industrial Average being the only major index to gain. It mentions the drop in technology stocks in Europe's Stoxx 600 index and the better-than-expected growth in the U.K.'s gross domestic product. It also highlights the increase in U.S. wholesale prices and the potential impact on consumer price index. The article mentions the founder of SBFFTX heading to jail for alleged witness tampering. It discusses the impressive performance of Nvidia's shares and the trajectory behind its ascent. The focus on the U.S. consumer is mentioned, with upcoming retail sales data and earnings reports from retailers. The article also mentions the potential petering out of the Nvidia-fueled rally and the growing U.S. economy. It discusses the impact of higher demand on oil prices and the implications for energy stocks. The article notes the potential impact on interest rates and the market's reaction, with the S&P 500 and Nasdaq Composite experiencing losses while the Dow Jones Industrial Average ekes out a gain. The article concludes by mentioning the upcoming week dominated by consumer spending data and the expectation of more volatility.
Sentiment: MIXED
Tickers: .DJI, TJX, OIH, .IXIC, NVDA, .SPX, TPR, SMH,
Keywords: sam bankman-fried, tapestry inc, nasdaq composite, producer prices, oil and gas, artificial intelligence, markets, business news, united states, vaneck oil services etf, inflation, cryptocurrency exchanges, tjx companies inc, nvidia corp, world markets, s&p 500 index, commodity markets, technology, united kingdom, dow jones industrial average, vaneck semiconductor etf,
Source: https://www.cnbc.com/2023/08/14/stock-markets-theres-a-new-narrative-in-markets.html