CNBC Daily Open: A cooling economy does not mean it's falling off a cliff
Publishing timestamp: 2023-11-30 19:04:18
Summary
The Dow Jones Industrial Average rallied to a new high for the year, with soft inflation data and strong Salesforce earnings contributing to the benchmark's best month since October 2022. The S&P 500 and Nasdaq Composite also saw gains, although the Nasdaq slipped slightly as investors booked profits in Big Tech stocks. Inflation data aligned with expectations, potentially giving the Federal Reserve more incentive to hold rates steady. OPEC+ opted against deepening production cuts, but Saudi Arabia extended its voluntary reduction. Activist investor Nelson Peltz and his firm are seeking seats on Disney's board, potentially leading to a proxy fight. Countries at the U.N. COP28 summit agreed on details for a disaster fund to help nations affected by the climate crisis. Analysts suggest that Five Below is a top holiday pick for retail stock investors. However, investors should be cautious about betting on interest rate cuts, as they may indicate a slowing economy and rising unemployment.
Sentiment: MIXED
Keywords: morgan stanley, walt disney co, business news, james gorman, saudi arabia, illumina inc, nelson peltz, markets, economic events, world markets, prices,