Data, earnings ease recession fears | Wilnesh News

This report comes from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open keeps investors updated on everything they need to know, no matter where they are. Like what you see? You can subscribe here.

winning streak
wall street Regroup as Strong retail sales and labor data Allayed fears of economic recession. this S&P 500 Index and Nasdaq Index rose for the sixth consecutive day, rising 1.61% and 2.34% respectively, while Dow Jones Industrial Average Soared 554 points. All three major indices have returned to pre-global epidemic levels The stock market plummeted on August 5. Meanwhile, the 10-year Treasury bond yield Ministry of Finance Rosealthough US oil prices Climb The economy grew 1.3% as recession fears eased.

consumer health
Walmart stock Up 6.5% after discount Annual sales and profit forecasts raised Second-quarter results beat Wall Street expectations. While traders have been looking for signs of economic weakness, Walmart Chief Financial Officer John David Rainey told CNBC that consumer behavior has not changed. “We see among our members and customers that they are still selective, discerning, value-driven and focused on essentials rather than non-essentials, but importantly we do not see any additional impact on consumer health. damage.

regain confidence
United Airlines CEO Scott Kirby said Renewed confidence in Boeing’s recovery After meeting with the aircraft manufacturer new CEO. Manchester United, 484 vacancies boeing company orders, expressing frustration with the aircraft manufacturer’s troubles, which have led to delivery delays. Earlier this week, Kirby had lunch with new Boeing CEO Robert Ortberg. in a LinkedIn Post On Thursday, Kirby said he “came away with renewed confidence that Boeing is on the right path and will recover sooner than most people expect.” Ortberg also met with American Airlines Chief Executive Robert Isom said earlier this week, according to a person familiar with the matter.

Streaming Wars
As legacy media companies battle for ratings and profitability in the streaming wars, CNBC’s Alex Sherman uncovers the inside stories that are driving the executives’ rise. ComcastNBCUniversal spends money like water Spending $2.45 billion annually over 11 years to ensure NBA game security Because of its Peacock streaming service. But with competition Netflix, Amazon Prime Video and disney+, the question remains: will this massive investment be enough to ensure Peacock’s long-term sustainability? Revealed: Comcast-owned NBCUniversal is the parent company of CNBC.

Asian markets rise
Japanese stocks This week is shaping up to be the best week in four years as fears of a U.S. recession recede. Japan exports heavy Nikkei 225 Index The Topix and the broader Topix rose 3.6% and 3% respectively. Singaporean straits times 1% improvement after that Non-oil domestic exports grow in July The annual growth rate was 15.7%, significantly exceeding expectations. Korean Cospi The Australian share market traded 2% higher as investors returned from the public holiday. S&P/ASX 200 Index up 1.3%. Hong Kong Hang Seng Index The CSI 300 Index rose 1.8%, with the CSI 300 Index little changed.

(Professional) S&P 6,000
Despite recent market volatility, Morgan Stanley Investment Management’s Andrew Slimmon predicts the S&P 500 could be “closer” to 6,000 by the end of the year. Here are some stocks he recommends.

Live long and prosper. Star Wars fans will instantly recognize this line. It also became the inspiration for the spacecraft manufacturer’s stock symbol LLAP Terran OrbitIronically, the company’s longevity as a public company was short-lived.

Lockheed Martin have to Step in and rescue distressed companies in a $450 million deal. Terran Orbital is one of a number of space companies, including Astra Space and Virgin Galicate, to go public through SPAC, or special purpose acquisition company transactions. These companies were once valued at billions of dollars, but now their valuations have collapsed. For example, Astra was valued at just $12 million when it went public. Repurchased by co-founder.

When the human race made its public appearance, CEO Marc Bell told CNBC“, “We have looked at a lot of space SPACs that have exited, and many of them are not companies that should be listed.

But space is expensive. richard branson’s Virgin Galactic Must execute a 20 for 1 Reverse Stock Split Simply to maintain listing status on the New York Stock Exchange. Meanwhile, Branson’s satellite venture Virgin Orbit has bankruptVirgin Galactic has Stop space tourism Because it focuses on redesigning new reusable spacecraft.

Even traditional companies are not immune to challenges. Early June, boeing company successfully launched astronauts Butch Wilmore and Suni Williams into space, but the Starliner capsule Thruster failure During docking with the International Space Station. NASA has not yet made a decision Bring the capsule back with a crew or leave it uninhabited.

Back on Wall Street, there was relief as retail sales and Walmart’s earnings showed consumers were more resilient than previously thought. CNBC’s Bob Pisani explains Why the economic “soft landing” hypothesis is still feasible.

John Stoltzfus, Chief Investment Strategist, Oppenheimer Asset Management Expressed confidence in market prospectsSaid he “currently feels comfortable with the prospect of a soft landing, or in the worst-case scenario, if we lose our temper and the Fed doesn’t give the market 50 basis points (basis points) in September and instead gives 25 basis points, then The worst that could happen is a slightly bumpy landing.

Stoltzfus, who has a target of 5,900 for the S&P 500, told CNBC, “Essentially, things look good. We have consumer-related elasticity, earnings-related elasticity, and if you look at the S&P 500 index, five industries have (already) doubled.

—CNBC’s Michael Sheetz, Melissa Repko, Jeff Cox, Brian Evans, Pia Singh, Alex Sherman, Leslie Josephs, Spencer Kimball, Lim Hui Jie and Weizhen Tan contributed to this report.