5 hours ago
Business sentiment in Japan is improving as the Portal Tankan survey shows an increase in November
Confidence among major Japanese manufacturers rose in November, according to the Portal Tankan survey, which measures business sentiment among major Japanese companies.
This is the first time the index has improved since August, while sentiment in the services sector rose for a second month.
The manufacturing sentiment index rose to +6 in November from +4 in October, and the services sector index was +27 over +24 last month.
The survey highlighted a patchy economic recovery and a difficult outlook for Japanese manufacturers.
It also reflected a similar improvement seen in the Bank of Japan’s closely watched quarterly Tankan survey.
A positive value means that the number of optimistic respondents is greater than that of pessimists and vice versa.
—Shreyashi Sanyal
4 hours ago
CNBC Pro: These are the stocks that will benefit — and lose — from the wellness trend, says Morgan Stanley
From food to beauty, a “global shift toward wellness” is taking place – not just among consumers but also among governments, says Morgan Stanley.
The Covid-19 pandemic is a major factor in the increasing focus on weight and its impact on health, the investment bank noted. However, she added that wellness goes beyond weight loss and also includes fitness, nutrition, appearance, sleep and mindfulness.
CNBC Pro takes a look at the stocks Morgan Stanley says will be affected – both positively and negatively.
Subscribers can read more here.
– Weizhen Tan
13 hours ago
CNBC Pro: “The gift that keeps on giving”: Morgan Stanley likes the storage sector and picks its top stocks
The tech theme is dominating this year and one segment in particular stands out to Morgan Stanley: the storage sector.
The investment bank calls it “the gift that keeps on giving,” noting that the sector’s “pricing power is now among the best in tech and is still in early recovery.”
The bank reveals its “top picks” and “preferred plays”.
CNBC Pro subscribers can read more here.
—Amala Balakrishner
An hour ago
New Zealand’s inflation expectations fall to their lowest level in two years in the fourth quarter
New Zealand’s inflation forecast fell to a two-year low in the fourth quarter, according to a Reserve Bank of New Zealand survey.
The RBNZ’s two-year inflation expectations, considered roughly the timeframe over which the central bank’s monetary policy actions impact prices, fell to 2.76% in the year to September from 2.83% in the previous quarter.
Annual price increases for a year were expected to cool to 3.60% from 4.17% previously.
The one-year expectation for annual wage inflation was 4.43%, down from 5.04% in the third quarter, while the two-year expectation for annual wage inflation was 3.53%, down from 3.66% in the last quarter lay.
The survey shows that the central bank’s rate hike cycle has shown signs of easing price pressures. The RBNZ will hold its next policy meeting on November 29th.
—Shreyashi Sanyal
6 hours ago
Apple had the most positive impact on the S&P 500 and the Nasdaq Composite on Tuesday
Tuesday’s trading session marked the longest stretch of positive days for both the S&P 500 and Nasdaq Composite indexes since November 2021.
The S&P 500 gained 0.28%. The stock with the biggest positive impact on the index was Apple, which gained about 1.5%.
Apple also had the most positive impact on the Nasdaq Composite. The tech-heavy index rose 0.9%.
The Dow Jones Industrial Average gained about 57 points, or 0.17%, snapping its longest winning streak since July. Salesforce had the most positive impact on the 30-stock index.
—Lisa Kailai Han, Chris Hayes
6 hours ago
Stocks Seeing the Biggest Moves After Hours: eBay, Toast, and More
These are the stocks moving the most in extended market trading:
- Robinhood – Shares of the trading platform app plunged more than 8%. Robinhood reported third-quarter revenue of $467 million, compared to analysts’ estimate of $478 million, per LSEG.
- eBay – Shares of the e-commerce giant fell 6%. According to LSEG, third-quarter revenue was $2.5 billion, in line with analyst expectations.
- Toast – Shares fell 17% in extended trading. Toast, a provider of point-of-sale systems for restaurants, reported a third-quarter loss of 9 cents per share, while analysts polled by LSEG expected a profit of 10 cents per share.
Read the full list of stock moves here.
—Lisa Kailai Han
6 hours ago
Stock futures have barely changed
Stock futures traded almost flat on Tuesday evening.
Dow futures were up about 0.04% after 6 p.m. ET, while S&P 500 and Nasdaq 100 futures were both slightly unchanged.
—Lisa Kailai Han