CNBC Daily Open: Tech, meet reality
Tech stocks slumped across the board as enthusiasm over artificial intelligence was replaced by a more clear-eyed view of today’s economic conditions.
Lordstown Motors files for bankruptcy protection, sues Foxconn
Lordstown filed for bankruptcy protection on Tuesday and put itself up for sale after failing to resolve a dispute over a promised investment from Foxconn.
Malaysia’s sovereign wealth fund seeks greater portfolio resilience in volatile markets
Khazanah invested more than half its portfolio in public markets in 2022 and more than doubled its net profit last year compared to the year before.
Saudi Aramco looks to China and India to prop up oil markets
Aramco’s CEO Amin Nasser believes that the oil market fundamentals remain generally “sound” for the rest of the year.
Influencers are under fire for praising working conditions in Shein’s clothing factory despite abuse allegations
Shein’s attempt to clear up negative reports about its factories resulted in more skepticism.
China’s economy is set to grow faster in the second quarter, Premier Li Qiang says
Chinese Premier Li Qiang said Tuesday his country was still on track to reach its annual growth target of around 5%.
Australia’s critical minerals industry needs quicker permits, not subsidies, BHP says
BHP CEO’s comments came after Australia outlined a strategy on how it will work with investors and partners to build a critical minerals processing industry.
Google execs admit users are ‘not quite happy’ with search experience after Reddit blackouts
Google executives acknowledged this month they need to do a better job surfacing user-generated content after the recent Reddit blackouts.
Big Tech fund manager reveals how to trade expensive valuations — and the stocks to buy
Plurimi Wealth’s Patrick Armstrong also revealed how he expects Big Tech stocks to trade in the next half of the year should a recession occur.
Buy this stock set to plug a ‘massive skills gap’ in aging America, fund manager says
There’s one stock that “resonates the most” for Dani Saurymper, whose fund invests in many sectors catering to an aging population.
