China releases better-than-expected economic data

On October 13, 2024, citizens were shopping in a supermarket in Zaozhuang, China.

Cost Photos | Noor Photos | Getty Images

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.

What you need to know today

China’s economic growth is better than expected
China Season 3 According to data from the National Bureau of Statistics, gross domestic product increased by 4.6% annually. While that was higher than the 4.5% rate in a Reuters poll, it still lagged the second quarter’s 4.7% growth. From a quarterly perspective, China’s economy grew by 0.9% in the third quarter.

Strong retail sales in China and U.S.
The National Bureau of Statistics said China’s total retail sales of consumer goods increased by 3.2% year-on-year in September. This was better than the 2.5% expected in the LSEG poll and the 2.1% in August. Across the Pacific, U.S. retail sales rose a seasonally adjusted 0.4% in September. It was higher than August’s 0.1% gain and Dow Jones’ forecast of 0.3%.

Dow bucks trend and rises
U.S. markets were mixed on Thursday. this Dow Jones Industrial Average It rose 0.37% and closed at another record high. but S&P 500 Index and Nasdaq Index Most are unchanged. Asia-Pacific markets were mixed on Friday. Chinese Shanghai Composite Index Stocks rose about 1.5% on positive economic data and suggestions from Beijing’s central bank governor that monetary policy could be loosened further.

Alternative Deals for Altera
Intel The company is considering selling its Altera unit for about $17 billion, according to people who spoke on condition of anonymity. Just last month, Intel CEO Pat Gelsinger said Altera was a core part of Intel’s future. Altera makes a semiconductor that can be reprogrammed, unlike CPUs.

(PRO) Small Caps Surge
For example, unlike larger companies, smaller companies don’t have the muscle to negotiate low-interest loans or the cash moats to withstand fluctuations in consumer habits. Therefore, when the Fed cuts interest rates, small stocks tend to benefit more. They just hit a three-year high.