CNBC Daily Open: In this time of uncertainty, logic is driving market moves
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 .
The S&P snaps losing streak
U.S. markets were mixed on Thursday. The S&P 500 and Nasdaq Composite rose, boosted by Tesla, but the Dow Jones Industrial Average fell. The pan-European Stoxx 600 index inched up 0.03%. Shares of British bank Barclays climbed 4.2%, at one point reaching a nine-year high during the trading session, on its better-than-expected third-quarter earnings.
Best day for Tesla shares in 11 years
Tesla shares surged 21.9%, its best day since 2013. Investors cheered CEO Elon Musk's projection of a 20% to 30% "vehicle growth" in 2025, higher than the 15% that was forecast by analysts surveyed by FactSet. But analysts at Deutsche Bank and Morgan Stanley are doubtful on whether that lofty target can be met.
Capri not being woven into Tapestry
Coach-owner Tapestry's proposed $8.5 billion deal to acquire Capri, owner of Michael Kors, was blocked by a U.S. federal judge on Thursday. Following the news, shares of Tapestry jumped 13.7% while Capri plunged 45.1% in extended trading. The Federal Trade Commission sued to block the deal in April, saying it would harm consumers.
Oppo's AI ambitions
Chinese smartphone maker Oppo has been talking to Google and Microsoft about artificial intelligence on a weekly basis, Billy Zhang, president of Oppo's overseas market, sales and services, told reporters last week. Oppo is working with the two companies to build the next big AI app as it prepares for the launch of its flagship phone.
[PRO] Possible S&P 5% pullback
Earlier this week,