CNBC Daily Open: October’s gravity bringing stocks down
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 .
Downbeat markets
U.S. markets had a downbeat Thursday. The S&P 500 and Dow Jones Industrial Average fell, while the Nasdaq Composite was near the flatline. Asia-Pacific stocks were mixed Friday. Hong Kong's Hang Seng index added around 2%, reversing its decline on Thursday. Australia's S&P/ASX 200 lost about 0.7%.
Momentum in China's rally
Chinese stocks soared last week on Beijing's announcement of economic stimulus. Some investors fear it's a short-lived rally, pointing to the Hang Seng index's drop on Thursday. But analysts think there's momentum in the China market, with a possibility it could continue rising when the market reopens next Tuesday after the Golden Week holiday.
Oil spikes on possible Israel retaliation
When asked whether the U.S. would support an Israeli strike on Iranian oil facilities, U.S. President Joe Biden said, "We're discussing that." Oil prices for both West Texas Intermediate and Brent futures spiked more than 5% Thursday – and Goldman Sachs says oil prices could climb around $20 per barrel next year if Iranian oil production were to drop.
Port strike ends
The strike at U.S. East and Gulf Coast ports ended Thursday after the International Longshoremen's Association and the United States Maritime Alliance "reached a tentative agreement on wages," the parties said in a joint statement. The deal extends the current contract until Jan. 15, allowing time for further negotiation on other issues.
[PRO] Overweight another drug maker
Shares of Novo Nordisk have rocketed over the