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Dow diverges from tech stocks
Manage episode 436419691 series 2874694
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The Dow hits a fresh record high, splitting from the Nasdaq and S&P 500 which both plunge into the red on weakness in chip production. CNBC hears from former Dallas Fed President Robert Kaplan who says he is expecting a 25 basis point cut from the central bank. Industrial profits in China grow at the fastest pace in 5 months, driven by the high-tech manufacturing sectors. Miner BHP beats earnings expectations and says it will be doubling down on its copper-related projects following its failed bid for rival Anglo American. CEO Mike Henry tells CNBC that Beijing’s support could also benefit steel for the company. In France, President Emmanuel Macron rejects working with the left-wing NFP alliance choice for PM. And in entertainment news, Paramount is set to be snapped up by Skydance after media tycoon Edgar Bronfman Jr. drops his bid to buy the company.
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