China’s providers sector progress hits 7-month excessive in December: Caixin survey
China’s providers sector expanded at its quickest tempo in seven months, based on the Caixin survey, compiled by S&P Global.
Its providers buying managers’ index got here in at 52.2 in December, up from 51.5 in November.
Caixin mentioned that the acceleration in enterprise exercise progress was supported by larger new enterprise inflows, although it famous that export enterprise declined for the primary time since August 2023.
Quicker new enterprise progress, nonetheless, elevated work backlogs, as companies have lowered employment ranges attributable to a decline in enterprise optimism.
— Lim Hui Jie
Hong Kong enterprise exercise expands at slower tempo in December
Hong Kong’s enterprise exercise expanded at a slower tempo in December, with the city’s purchasing managers index coming in at 51.1.
The studying was decrease than the 51.2 seen in November. “Subdued exterior demand was a key dampener for progress within the closing month of 2024,” Jingyi Pan, economics affiliate director at S&P Global Market Intelligence wrote within the launch.
He famous that companies in Hong Kong have been involved about potential U.S. tariffs impacting commerce, including that this may occasionally “stay a key driver of sentiment and financial situations within the new yr.”
— Lim Hui Jie
Nippon Steel shares fall as carmaker’s president reportedly mulls suing U.S. authorities
Shares of Japan’s Nippon Steel fell 2% after the carmaker’s president Tadashi Imai reportedly mentioned that the corporate may file a lawsuit towards the U.S. authorities, based on a report by Japanese broadcaster Nippon Television.
This comes after U.S. President Joe Biden blocked Nippon Steel’s buy of U.S. Steel after a year-long assessment, citing nationwide safety issues.
The NTV report quotes Imai as saying, “Our firm has the suitable to be correctly reviewed. The historical past of the assessment to date and the U.S. authorities’s resolution haven’t been correctly reviewed,” based on a Google translation of the report in Japanese.
He added, “I believe we will take motion, together with asserting (countermeasures), with out spending an excessive amount of time.”
Reuters additionally reported that Nippon Steel will maintain a press convention on Tuesday concerning the merger.
CNBC Pro: From EVs to magnificence: Strategist names 4 shares to purchase in 2025
The outlook for fairness markets this yr seems unsure, with one market strategist describing the brand new yr as “stepping right into a home of playing cards.”
“The inventory market could fluctuate in 2025, however vital alternatives will come up for these targeted on particular person inventory picks,” Michele Schneider, chief market strategist at Marketgauge.com, mentioned.
From magnificence labels to electrical car corporations, listed below are 4 shares Schneider expects to beat the market this yr.
CNBC Pro subscribers can read more here.
— Amala Balakrishner
Stocks shut greater, however nonetheless end down for holiday-shortened week
The inventory market loved a broad rally on Friday, led by the tech-heavy Nasdaq Composite. Still, the three main averages completed with losses for the week.
— Jesse Pound
S&P 500 will rise greater than 12% in 2025, UBS says
The market could have extra room to run in 2025, based on UBS’ David Lefkowitz.
“We anticipate the bull market to proceed with the S&P 500 reaching 6,600 by the top of the yr, primarily pushed by wholesome revenue progress of 9%,” the agency’s chief funding officer of U.S. equities wrote in a current word. His value goal implies about 12.5% upside from Thursday’s shut.
“That mentioned, there are all the time dangers that buyers should navigate,” Lefkowitz continued.
On that entrance, Lefkowitz mentioned modifications in commerce coverage below President-elect Trump, fiscal battles in Congress, inflation and the outlook for synthetic intelligence may all probably spur volatility within the coming yr.
“But so long as company America places up the numbers, shares ought to reply favorably,” he mentioned.
The forecast comes after a record-breaking yr for the S&P 500. In 2024, the broad market index gained greater than 23%, scoring a number of new intraday and shutting highs through the interval.
— Sean Conlon
Microsoft expects to spend $80 billion on AI-enabled information facilities in fiscal 2025
Microsoft plans to spend $80 billion to construct artificial intelligence-enabled data centers in fiscal 2025, the know-how titan mentioned Friday.
The firm mentioned greater than half of that spending within the fiscal yr, which ends in June, will probably be within the U.S.
Shares final traded up greater than 1% in Friday’s session. The inventory is on monitor to snap a five-day shedding streak.
— Alex Harring, Jordan Novet
