CNBC Daily Open: Despite losses, the rest of the year holds promise for markets
Publishing timestamp: 2024-01-04 18:50:03
Summary
The US private sector added more jobs than expected in December, indicating a tight labor market. The Nasdaq Composite experienced its longest losing streak since October 2022, while European stocks rose. Lazada, an Alibaba-owned e-commerce company, began laying off employees. Peloton announced a partnership with TikTok, causing its shares to rise. Piper Sandler downgraded Apple due to concerns over iPhone sales and valuation. Despite recent losses, some analysts remain optimistic about the stock market, citing consumer strength and expectations of a gradual cooling of the labor market.
Sentiment: MIXED
Tickers: C, .SPX, AAPL, AMZN, MSFT, BABA, BAC, SE, .IXIC, BARC-GB, PTON, ADBE, .DJI,
Keywords: microsoft corp, united states, barclays plc, iphone, adobe inc., nasdaq composite, markets, world markets, alibaba group holding ltd, citigroup inc, technology, business news, s&p 500 index, amazon.com inc, dow jones industrial average, apple inc, peloton interactive inc, bank of america corp, sea ltd, jobs,
Source: https://www.cnbc.com/2024/01/05/stock-markets-despite-losses-2024-holds-promise-for-markets.html