CNBC Daily Open: Data and earnings ease recession fears
S&P 500 and Nasdaq Composite had a sixth consecutive day of gains, rising 1.61% and 2.34% respectively, while the Dow Jones Industrial Average surged 554 points
Paetongtarn Shinawatra becomes Thailand’s youngest prime minister
Paetongtarn will become the youngest Thai prime minister and only the second woman to occupy the position, after her aunt Yingluck.
Replacing China in copper supply chain is ‘unfeasible,’ warns WoodMac, as the West seeks shift
Efforts from Western economies to diversify away from China’s copper supply chain could raise costs and delay the energy transition, says Wood Mackenzie.
China’s central bank says risks from local government debt have dropped
China’s financial risks have dropped, including from local government debt, People’s Bank of China Governor Pan Gongsheng said in interviews with state media.
China’s new loans hit a 15-year low, but investors ‘should not panic’
China extended just 260 billion yuan of new loans in July, far less than the 450 billion yuan expected.
U.S., Brazil back fresh Venezuela election despite government, opposition rebuffs
Biden backs a new Venezuela election, echoing Brazil’s Lula, despite both ruling party and opposition claiming victory in the July 28 vote.
CNBC Daily Open: Live long and prosper
S&P 500 and Nasdaq Composite had a sixth consecutive day of gains, rising 1.61% and 2.34% respectively, while the Dow Jones Industrial Average surged 554 points
Inside the company building hydrogen-electric engines for airplanes
Aviation makes up 3% of global emissions, but it’s one of the hardest sectors to decarbonize. British-American company ZeroAvia is developing engines that run on hydrogen to generate electricity and power aircraft without emissions.
TikTok ‘finfluencers’ accurately called the AI rally, but credibility concerns dog them
Experts warned against trusting advice from these finfluencers, but agreed that they provide a first step to promote investing awareness among young investors.
S&P 500 will be closer to 6,000 by year-end, Morgan Stanley’s Slimmon says, naming stocks to buy
After the sell-off in August, markets could have a “recovery rally” in mid-September, before tumbling “another leg lower” and bottoming in October, he says.
