Former President Trump's comments on potential interest rate cuts and working with China on ending the Ukraine war boosted U.S. markets. Boeing anticipates a loss, while Europe's future remains uncertain.
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. U.S. markets continued their upward trend, driven by investor optimism following remarks by former President Donald Trump regarding potential interest rate cuts.
Trump, in a virtual address to the World Economic Forum at Davos, suggested working with Chinese President Xi Jinping to end the war in Ukraine and advocated for lower interest rates. These comments, coupled with a positive perception of Trump's economic policies, boosted investor confidence, leading to a four-day winning streak for major U.S. benchmarks. Separately, a survey by the American Chamber of Commerce in China revealed that 30% of U.S. companies operating in China are accelerating their relocation plans back to the U.S. Most of these moves are focused on establishing technology and regulatory frameworks for cryptocurrencies. According to the White House, Trump also proposed creating a working group to explore the establishment of a national digital asset stockpile. Meanwhile, Boeing faced challenges as its stock dropped following a disappointing earnings forecast. The company anticipates a loss of $5.46 per share for the year, with revenue projected at $15.2 billion, falling short of estimates by LSEG. Boeing has struggled to post an annual profit since 2018. Despite the positive sentiment surrounding U.S. markets, Larry Fink, CEO of BlackRock, expressed concerns about a pessimistic outlook on Europe's future at Davos. However, Fink hinted that Europe might be nearing a turning point, suggesting a possible end to its recent challenges. Investors remain cautious, as they await further developments on global economic fronts
AMERICAN COMPANIES BOEING EARNINGS DONALD TRUMP DAVOS ECONOMIC FORUM EUROPEAN ECONOMY INTEREST RATES MARKETS U.S. STOCKS
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