Asian markets, Apple suppliers, Australia GDP

2 hours ago

Australia's GDP will grow by 0.2% in the final quarter of 2023

Cafe at Royal Arcade, Bourke Street Mall, Melbourne VIC 3000, Australia.

Educational Pictures | Universal Pictures Group | Good pictures

Australia's economy grew by 0.2% quarter-on-quarter in the fourth quarter of 2023. Australian Bureau of Statistics.

The reading was driven by government spending and private business investment. That was slightly below the Reuters poll estimate of a 0.3% rise.

“Growth was steady in December, but slowed in each quarter in 2023,” Kathryn Keenan, ABS Head of National Accounts said.

“Government spending and private business investment were the main drivers of GDP growth this quarter.”

Real GDP was 1.5% in the twelve months to December, compared with a Reuters poll for a 1.4% increase.

– Shreyashi Sanyal

3 hours before

CNBC Pro: 'Once in a Lifetime Opportunity'? The wealth manager now names 3 stocks on his radar

Wealth manager Brian Wendick says this year is bullish in stocks, and 2023 has opportunities for investors outside of the majors.

Vendig, president of MJP Wealth Advisors, wrote in notes to CNBC, “We believe the stock has room to appreciate as the earnings outlook for this year continues to expand.

“There are many areas of the market that haven't contributed significantly to last year's returns — like healthcare, industrials, commodities, financials and consumer goods — and that creates opportunities for investors.”

CNBC Pro subscribers can read more here.

– Amala Balakrishna

3 hours before

South Korea's inflation accelerates more than expected in February after three straight months of contraction

3 hours before

CNBC Pro: Diversify your AI plays — these are the best alternatives to Nvidia, fund managers say

Nvidia may have enjoyed a red-hot run on the back of the artificial intelligence craze, but many tech stocks have also benefited.

As with any investment theme, diversification is required.

Veteran tech investor Paul Meeks told CNBC Pro that while Nvidia is a “great story,” it's “too risky to be in one” when it comes to AI.

Additionally, one analyst names two startups that could be the next Nvidia.

CNBC Pro subscribers can read more here.

– Weissen Don

6 hours ago

Oil prices ease after China's growth pledge, OPEC+ production cuts fall with traders

Crude oil futures fell on Tuesday as China's promise to boost economic growth and OPEC+'s decision to extend its production cuts fell with traders.

The West Texas Intermediate contract for April delivery was down 59 cents, or 0.75%, at $78.15 a barrel. May Brent futures lost 76 cents, or 0.92%, to settle at $82.04 a barrel.

The Beijing government on Tuesday set an economic growth target of 5% for 2024 and announced the issuance of $138.9 billion in “ultra-long” special treasury bonds to finance key projects.

OPEC and its allies OPEC+ agreed on Sunday to extend crude oil production cuts by 2.2 million barrels per day in the second quarter.

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– Spencer Kimball

7 hours ago

The Nasdaq-100's 7 worst-performing stocks are semiconductors

7 hours ago

Tesla shares fall on weak China sales, Berlin factory closures

During Tuesday's trading session, Tesla shares fell 5% in mid-afternoon due to overseas issues.

The electric vehicle maker's losses were due to declining sales in China.

“Tesla's China-made sales of ~60.4k vehicles fell 19% in February from ~74.5k vehicles a year earlier, according to the China Passenger Car Association,” Deutsche Bank analyst Emmanuel Rosner wrote in a note on Tuesday.

However, the analyst cautioned that these weak headline numbers aren't limited to Tesla.

Following a suspicious arson attack, the company was shut down at the Berlin factory. According to the head of Tesla's Berlin factory, production will resume this week, according to Reuters.

12 hours ago

Bitcoin Hits Record Above $69,000

Bitcoin hit an all-time high on Tuesday, hitting $69,000 and breaking the previous record set in 2021. According to Coin Metrics, the cryptocurrency reached around $69,210. It was last up 1% at $68,307. The move comes amid excitement about Bitcoin ETFs and the upcoming halving event.

Check out the chart…

BTC sets record

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