CNBC Daily Open: The rally continues but the pace slows
Publishing timestamp: 2023-12-14 19:02:47
Summary
The article discusses the rally in U.S. stocks, boosted by falling U.S. Treasury yields. It mentions that U.S. retail sales rose in November, defying estimates of a fall. The European Central Bank and Bank of England kept interest rates unchanged, while Norway's Norges Bank unexpectedly hiked rates. Intel announced a new artificial intelligence chip to compete with Nvidia. The article also mentions JPMorgan Chase's top internet analyst naming his three favorite picks for 2024. The pace of the rally cooled as Big Tech saw losses, but gains in other sectors, particularly bank stocks, offset the losses. The article suggests that the rally could broaden next year as more sectors benefit from the Federal Reserve's gradual interest rate cuts.
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, nasdaq composite, citizens financial group inc, amazon.com inc, s&p 500 index, technology, deutsche bank ag, economic events, meta platforms inc, microsoft corp, charles schwab corp, spdr s&p regional banking etf,
Source: https://www.cnbc.com/2023/12/15/stock-markets-the-rally-continues-but-the-pace-slows.html