CNBC Daily Open: Markets upbeat mood
CNBC Daily Open: Markets upbeat mood

Traders work on the ground of the New York Stock Exchange (NYSE) on October 30, 2023 in New York City. 

Spencer Platt | Getty Images

This report is from right this moment’s CNBC Daily Open, our worldwide markets publication. CNBC Daily Open brings traders on top of things on every thing they should know, regardless of the place they’re. Like what you see? You can subscribe here.

What you might want to know right this moment

Wall Street extends beneficial properties
Wall Street continued to
extend gains on Monday. The Dow Jones Industrial Average spiked to hit a brand new document and closed above 38,000 for the first time. The S&P 500 rose 0.2%, additionally hitting a brand new all-time excessive. The Nasdaq Composite additionally prolonged beneficial properties.

Bitcoin dips
Bitcoin prolonged its losses Monday, falling below $40,000 for the primary time  this yr. The worth of bitcoin was final decrease by 4.5% at $39,777.99, based on Coin Metrics. It earlier dipped to $39,414.80, its lowest degree since Dec. 3.

China’s deflation drawback
China’s economic system is dealing with a serious deflation problem and that would harm financial progress, based on one China strategist. He expects China to expertise “one other 3-6 months minimal of a really painful economic system.” The world’s second-largest economic system has confronted a sluggish restoration in 2023 after exiting Covid-19 restrictions.

[PRO] Wall Street’s China picks
Wall Street banks Morgan Stanley and JPMorgan have highlighted key China web picks for this yr. Both corporations suppose an alpha-driven funding technique will present good risk-reward for the sector and picked some themes to look at. Alpha-driven returns present how properly a inventory has carried out in contrast with its benchmark index.

The backside line

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