CNBC Daily Open: Big Tech lags stock rally
Publishing timestamp: 2023-12-15 02:30:01
Summary
The article discusses the rally in U.S. stocks, boosted by falling U.S. Treasury yields. It also mentions China's uneven economy, with industrial output beating expectations but retail sales and home prices falling. The article also highlights the decisions of major central banks to keep interest rates unchanged, except for Norway's Norges Bank which unexpectedly hiked rates. Intel's announcement of the Gaudi3 AI chip and other product launches is mentioned. The article also mentions Goldman Sachs' "Conviction List" of global stocks worth buying, and the potential for market growth outside of Big Tech. The gains in bank stocks and the potential for them to outperform the general U.S. stock market in 2024 are also discussed. The article concludes by mentioning the positive retail sales data and its impact on hopes for a soft landing.
Sentiment: NEUTRAL
Tickers: WAL, .DJI, .SPX, CFG, KRE, AMZN, META, SCHW, DB, MSFT, .IXIC,
Keywords: united states, markets, world markets, dow jones industrial average, business news, western alliance bancorp, prices, central banking, citizens financial group inc, nasdaq composite, amazon.com inc, china, s&p 500 index, technology, deutsche bank ag, economic events, microsoft corp, meta platforms inc, charles schwab corp, spdr s&p regional banking etf,
Source: https://www.cnbc.com/2023/12/15/stock-markets-big-tech-lags-in-this-rally.html