CNBC Daily Open: Recession concerns still linger
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 .
Dow rises, others fall
U.S. markets traded mixed Friday. The Dow Jones Industrial Average rose to touch a new high, but the S&P 500 and Nasdaq Composite dropped. The pan-European Stoxx 600 index lost 1.42%, dragged down by auto stocks which shed 3.6%. After cutting its 2024 guidance, Mercedes sank over 8% before paring losses to 1.6% by the end of the day.
Qualcomm takeover of Intel?
Qualcomm recently approached Intel for a possible takeover. Whether talks proceeded or what possible deal terms would be are unclear, according to a source. Considering Intel's market cap of over $90 billion, the deal, if it were to happen, would be one of the largest technology mergers ever. Intel has in recent years struggled with its business.
Rate cut considerations
U.S. Federal Reserve Governor Christopher Waller said Friday he voted for a half-point point rate cut because "inflation is softening much faster than [he] thought it was going to." Michelle Bowman, who voted for a quarter-point cut, said in a statement, "the Committee's larger policy action could be interpreted as a premature declaration of victory" on inflation.
'As long as it takes'
Boeing workers entered their second week of strikes, and might continue for some time. One worker who spoke on the condition of anonymity said he'd been saving for months – and "can last as long as it takes" to attain a more favorable labor contract from Boeing. The strike costs Boeing around $50 million a day, according to aerospace analyst Ron Epstein.
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