CNBC Daily Open: Markets can’t catch a break from rate fears

U.S. stocks continued to slide on Thursday, with the Nasdaq falling for the 4th day in a row due to a slump in tech stocks.
Former FTX executive Ryan Salame pleaded guilty to campaign finance and money transmitting crimes related to political donations.
U.S. President Biden is attending the G20 summit in India, but Chinese and Russian presidents Xi and Putin will not be there.
Traders are optimistic about a potential rebound in IPOs, but Leon Cooperman doesn't think markets will hit new highs for a long time.
Jobless claims fell last week and labor costs rose, signs of a still-tight labor market - which led to more bets on a Fed rate hike in November.

cnbc.com

Relevant topic timeline:

8/21/2023

Nasdaq snaps 4-day losing streak, tech shares rise despite higher yields

Tech-heavy Nasdaq Composite and S&P 500 close higher on Monday, while Dow Jones Industrial Average falls slightly; Bank of America analyst predicts insurers will increase customer prices due to increased climate change risk; Allianz economist believes Federal Reserve Chair Powell will focus on short-term monetary policy at Jackson Hole; Loop Capital warns of weak smartphone sales ahead of iPhone 15 launch; CFRA Research chief investment strategist expects year-end rally for stocks despite recession concerns; Homebuilding stocks begin to decline; AMC Entertainment falls ahead of stock conversion; Cybersecurity company SentinelOne explores potential sale; LPL Financial chief technical strategist says recent stock pullback is temporary and predicts end-of-year rally; Jefferies upgrades gold product manufacturer Acushnet Holdings; Nvidia's quarterly earnings report could be critical for the market, says Wolfe Research; Stocks making big moves midday, including XPeng, Eli Lilly, and Marriott Vacations Worldwide.

9/6/2023

CNBC Daily Open: Lingering embers of inflation

Stocks sold off and U.S. Treasury yields rose for the second consecutive day, while Germany's manufacturing orders experienced a significant decline; Apple signed a long-term agreement with Arm, boosting anticipation for Arm's upcoming IPO; the European Commission designated Alphabet, Amazon, Apple, ByteDance, Meta, and Microsoft as "gatekeepers" under its new Digital Markets Act; Goldman Sachs updated its conviction list, adding a new company with projected revenue growth and removing another after a significant drop in shares; and markets are focusing on stubborn inflation and the threat of higher interest rates, causing stocks to be pressured and technology stocks to be particularly affected.

9/8/2023

Tech Slump Continues as Stocks Slide Again; India's Growth Faces Policy Hurdles; Ukraine Official Blasts Musk Over Starlink Shutdown; Ex-FTX Exec Pleads Guilty in Donation Scheme; Rate Hike Bets Rise After Jobs Data Hits Tech Stocks

U.S. stocks continue to decline, with the Nasdaq Composite experiencing its fourth down day, while Asian markets also fall; India's economic expansion is predicted to be a key driver of the global economy; Elon Musk is criticized for shutting off Starlink's satellite network, causing issues for Ukraine; FTX's former executive pleads guilty to campaign finance and money-transmitting crimes; and a Chinese electric vehicle maker is being hailed as a competitor to Tesla's Model 3.

9/22/2023

Stocks Sink Further as Selloff Extends, But Some Names Show Resilience

Summary: Dow Jones futures, S&P 500 futures, and Nasdaq futures all rose overnight, while the stock market correction continued with heavy losses as the 10-year Treasury yields surged, leading to the S&P 500 undercutting its August lows and the Nasdaq and Dow Jones coming close to doing the same.

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Posted 9/8/2023, 12:03:00 AM