The Dow hits another high amid a mostly flat market
NEW YORK, NEW YORK – OCTOBER 16: Traders and others work on the New York Stock Exchange (NYSE) floor in New York City.
Spencer Platt | Getty Images
This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here.
What you need to know today
ECB cuts rate, as expected
The European Central Bank on Thursday lowered its key interest rate by 25 basis points to 3.25%, as markets had expected. That’s its third 25-basis-point cut this year, the first time since December 2011 it’s reduced rates at consecutive meetings. The ECB’s Governing Council called the process of disinflation “well on track.”
Dow bucks the trend to rise
U.S. markets had a mixed Thursday. The Dow Jones Industrial Average added 0.37% to close at another record level. But the S&P 500 and Nasdaq Composite were mostly unchanged. Europe’s Stoxx 600 index finished the day 0.83% higher as traders took in the ECB’s rate cut and ECB President Christine Lagarde’s comment that the bank is “not pre-committing to a particular rate path.”
More positive economic data
U.S. retail sales rose a seasonally adjusted 0.4% for September. That’s higher than both the 0.1% gain in August and the 0.3% Dow Jones forecast, according to the advance report. In more positive economic news, initial jobless claims for the week ending Oct. 12 dropped 19,000 from the week before to 241,000. Those reports reinforce the maxim: Don’t bet against the American consumer.
Handy earnings beats
Netflix’s third-quarter earnings and revenue beat LSEG estimations, the company reported Thursday. The company added 5.1 million subscribers during the quarter ended Sept. 30, 600,000 more than the StreetAccount estimate. Meanwhile, Taiwan Semiconductor Manufacturing Co’s reported its third-quarter net revenue jumped 36% year on year, and revised its fourth-quarter revenue upward.
[PRO] Soaring small caps
Unlike big companies, small companies don’t have the heft to negotiate for low-rate loans, for instance, or the cash moat to withstand fluctuations in consumer habits. Hence, as the U.S. Federal Reserve cuts interest rates, small-cap stocks tend to benefit more. And they have just hit a high not seen in three years.
The bottom line
The Bottom Line is on a break today. Normal programming will resume Monday, Oct. 21, 2024.
#Dow #hits #high #flat #market
News plays a pivotal role in our lives by keeping us informed and connected to the world. It serves as a critical source of information, offering updates on current events, politics, economics, science, and more. Through news, we gain awareness of global issues and local developments, helping us make informed decisions in our personal and professional lives. News also fosters discussion and debate, encouraging critical thinking and perspective-taking. Moreover, it promotes transparency and accountability among governments, businesses, and other institutions. In a rapidly changing world, staying updated with the news enables us to adapt to new challenges and opportunities, shaping our understanding of the complexities of society. Ultimately, news is not just about information; it empowers us to participate actively in the world around us, contributing to a more informed, engaged, and responsible global citizenry.
Health is fundamental to our well-being and quality of life, making it an essential aspect of daily existence. It encompasses physical, mental, and emotional aspects, influencing our ability to function effectively and enjoy life fully. Prioritizing health allows individuals to maintain optimal physical fitness, reducing the risk of diseases and promoting longevity. Mental health, equally crucial, affects our cognitive abilities, emotional stability, and overall happiness. Investing in preventive healthcare through exercise, balanced nutrition, and regular medical check-ups helps in early detection of potential health issues, ensuring timely intervention and treatment. Beyond individual benefits, a population’s health impacts societal productivity and economic stability. Governments and organizations worldwide emphasize public health initiatives to address pandemics, health disparities, and promote overall well-being. Ultimately, health serves as the foundation upon which we build our lives, influencing our ability to pursue goals, nurture relationships, and contribute meaningfully to society.
Money plays a crucial role in our lives as a means of financial security and freedom. It enables us to meet basic needs such as food, shelter, and healthcare, while also providing opportunities for education, travel, and personal growth. Beyond material comforts, money facilitates social connections and experiences that enrich our lives. It empowers individuals to invest in their futures, whether through savings, investments, or entrepreneurial ventures, thereby fostering economic stability and growth. However, the pursuit of wealth should also be balanced with ethical considerations, as money can influence relationships and societal dynamics. Responsible management of finances is key to achieving long-term goals and mitigating financial stress. Ultimately, while money is a tool for achieving aspirations and fulfilling desires, its true value lies in how it is utilized to improve both personal well-being and the broader community.
Earning Easy Money in 2024: Opportunities and Considerations 💸
In 2024, the landscape of earning easy money presents diverse opportunities, albeit with considerations. The digital age offers platforms for freelancing, online trading, and e-commerce, allowing individuals to leverage skills and creativity for financial gain. Cryptocurrency investments continue to allure with potential for quick profits, yet they entail high volatility and risk. Moreover, the rise of the gig economy enables flexible work arrangements through apps and websites, offering quick payouts but often without job security or benefits. Passive income streams such as rental properties and investments in stocks or bonds remain viable, but demand initial capital and ongoing management. Amid these options, caution is essential to avoid scams and unsustainable ventures promising overnight success. Ultimately, while the allure of easy money persists, informed decisions, diligence, and a long-term perspective are crucial for sustainable financial growth and security in the dynamic year ahead.
