This is CNBC’s live blog covering the European markets.
European markets look set to open higher on Tuesday, rebounding after a bleak start to the new trading year.
This week, global investors are looking to the release of the latest US inflation data and major bank earnings for further clues on the state of the economy, and the path to interest rate cuts by the Federal Reserve.
The December CPI is due on Thursday, while the Producer Price Index is due on Friday.
US stock futures fell overnight after the major averages rose at the start of the week. Asia-Pacific markets rose across the board on Tuesday, rebounding from the sell-off seen in the previous session.
CNBC Pro: As demand for artificial intelligence rises, Bank of America expects the shares of 3 major suppliers to rise more than 35%
Artificial intelligence (AI)-themed stocks have gotten a lot of love from market watchers — including Bank of America.
The bank’s analysts, led by Robert Cheng, remain bullish on AI even as some investors expect the ongoing boom to be “short-lived,” as was the case during the dot-com bubble of the 1990s and the virtual reality (VR) era of the 2020s.
“We believe AI is different because the main players are global cloud providers and enterprises [as compared to] Most of them focus on startups [the] They explained that the consumer market during the Internet and virtual reality bubbles.
The investment bank highlighted the opportunities in this issue – naming three of its top stock picks with upside potential of more than 35% right now.
CNBC Pro subscribers can read more here.
– Amala Balakrishner
CNBC Pro: ‘One of the Best Reviews for AI’: Buy the Dip in Big Tech Stocks, Strategist Says
Nvidia has been a favorite among investors when it comes to artificial intelligence.
But other technology companies have also been busy building their capabilities in the region, and one of them is not appreciated by the market, according to one strategist.
“But if you run into the downside, if you see more weakness than we had in the first half of the year, continue to build a position because this is a high-quality name that has a strong balance sheet,” he said.
CNBC Pro subscribers can read more here.
-Weezin Tan
CNBC Pro: Morgan Stanley names its ‘most favorite’ European internet stocks — and gives them a 70% rise
Internet stocks in Europe are expected to post gains in 2024 – thanks to improving fundamentals and lower interest rates, according to Morgan Stanley.
Wall Street bank analysts said they were “positive on the sector” due to customer growth, cost discipline at companies, and valuations supported by low interest rates.
CNBC Pro subscribers can read more about the investment bank’s stock picks here.
-Ganesh Rao
European Markets: Below are the opening calls
European markets are scheduled to open in positive territory on Tuesday.
The UK’s FTSE 100 is expected to open 28 points higher at 7,713, Germany’s DAX is up 47 points at 16,571, France’s CAC is up 27 points at 7,470, and Italy’s FTSE MIB is up 88 points at 30,745, according to data from IG.
German industrial production data for November will be published.
– Holly Eliatt
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