13 Hours Ago
The bear market could resume in March, says Morgan Stanley’s Wilson
The stock market’s recent attempt to pull out of a downtrend could soon come to an end, according to Morgan Stanley.
Mike Wilson, the firm’s chief U.S. equity strategist, said in a note to clients Monday that the S&P 500 is on the verge of falling back into a bear market.
“With the equity market showing signs of exhaustion after the last Fed meeting, the S&P 500 is at critical technical support. Given our view on earnings, March is a high risk month for the bear market to resume,” Wilson said.
For more, read the full story on CNBC Pro.
—Jesse Pound, Tanaya Macheel
5 Hours Ago
CNBC Pro: ‘Pretty bearish on Tesla’: Market pro says price cuts will hit the EV giant’s share price
4 Hours Ago
Hong Kong to end mask mandate from March 1
Hong Kong will end its mask mandate for indoors and outdoors on Wednesday, March 1 – its Chief Executive John Lee said in a briefing.
When asked for the reasoning behind the timing, Lee cited “overall assessment” and emphasized that the government had previously said it would be closely monitoring the situation.
Mask rules for hospitals and nursing homes will be “added administratively,” Lee said.
– Jihye Lee
5 Hours Ago
CNBC Pro: Semiconductors, A.I. and more: These top-rated ETFs offer a way to play tech’s hottest trends
Two tech themes have taken Wall Street by storm so far this year.
One is the return of semiconductor stocks, as demand bounces back for chips; the other is artificial intelligence, following the buzz surrounding chatbot ChatGPT.
CNBC Pro screened for the highest-rated ETFs with exposure to semiconductor and/or AI-related stocks (among others) using Morningstar data. The resulting funds all received a four- or five-star rating by Morningstar, and have performed well over the past three years.
CNBC Pro subscribers can read more here.
— Weizhen Tan
40 Min Ago
European markets: Here are the opening calls
European markets are heading for a positive open Thursday, tracking modest gains on Wall Street.
The U.K.’s FTSE 100 index is expected to open 36 points higher at 7,940, Germany’s DAX 18 points higher at 15,419, France’s CAC up 8 points at 7,308 and Italy’s FTSE MIB up 36 points at 27,504, according to data from IG.
Earnings are set to come from Ocado, Bayer, Man Group, Adecco Group, Atos and Bunzl and data releases include French and Spanish inflation data for February and Germany’s revised gross domestic product figures for the fourth quarter.
— Holly Ellyatt