No letup in tech layoffs

Justin Tallis | AFP via 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

Stocks advance
U.S. stocks gained ground on Tuesday as Wall Street tried to rebound from the previous session. The S&P 500 was up 0.23%, while the Nasdaq Composite closed 0.07% higher. The 30-stock Dow jumped 0.37% as markets continued to digest the latest batch of corporate earnings.

Silver lining
Silver is set for a “terrific year” with prices potentially reaching a decade-high. Like gold, silver prices tend to have an inverse relationship with interest rates. With expectations that the Federal Reserve could start cutting rates this year, silver may get a boost.

Snap slumps
Snap shares tumbled 30% in after-hours trading after it reported revenue that missed analysts’ estimates. The company blamed the war in the Middle East for some of the earnings’ weakness, saying the conflict created a headwind for year-on-year growth despite progress on the advertising front.

Joint sports streaming
ESPN, Fox and Warner Bros. Discovery plan to launch a joint sports streaming platform later this year. Consumers can subscribe directly using a new app. The service is “a major win for sports fans, and an important step forward for the media business,” Disney CEO Bob Iger said in a statement. 

[PRO] Betting on BYD
Jason Hsu, chairman and chief investment officer of Rayliant Global Advisors, expects Hong Kong-listed BYD to get ahead in the electric vehicle race. BYD is “for sure going to emerge a winner,” Hsu said, adding that “in three to five years, I could easily see BYD at twice the current price.”

The bottom line

FOLLOW US ON GOOGLE NEWS

Read original article here

Denial of responsibility! Chronicles Live is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – chronicleslive.com. The content will be deleted within 24 hours.

Leave a Comment