CNBC Daily Open: A high of all-time highs
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 .
All-time high, again
Major U.S. indexes rose on Thursday, with the S&P 500 notching a fresh closing high. Micron jumped 14.73% on better-than-expected guidance. Europe's Stoxx 600 index advanced 1.25% as luxury shares popped and regained losses from earlier in the week. Meanwhile, the Swiss National Bank cut rates by a quarter point to 1%.
Why are Treasury yields rising?
Treasury yields tend to move in tandem with interest rates. Both, broadly speaking, indicate the borrowing costs of money. When the U.S. Federal Reserve cut interest rates last week, it's not unreasonable to expect Treasury yields to dip. Instead, they've been climbing. CNBC's Jeff Cox breaks down what's happening.
'No current plans' for Altman equity
At an all-hands meeting on Thursday, OpenAI CEO Sam Altman denied he received a "giant equity stake" in the company, and said "there are no current plans" for him to receive one, according to a source who asked to remain unnamed. That said, OpenAI Chairman Bret Taylor told CNBC the board "has had discussions" on compensating Altman with equity.
CFOs predict Harris victory
U.S. Vice President Kamala Harris is likely to win the presidential election, according to 55% of chief financial officers polled by CNBC. About a third think Donald Trump will win, and the rest are unsure. But 55% of respondents think Trump will be better for the economy and on inflation.
[PRO] Independent of economy
Earlier this week, China announced measures, such as reducing the amount banks are required to hold