CNBC Daily Open: U.S. CEOs now more optimistic about economy
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 .
Asia stocks advance
Asia markets rose Friday with Japan's Nikkei 225 as well as the Topix closing higher even as January household spending dropped more than expected.Hong Kong's Hang Seng index and mainland China's CSI 300 also rose. Overnight, U.S. stocks ended on a strong note with the S&P 500 jumping 1% to close at a new record. The Nasdaq Composite rose 1.51%, also hitting an all-time high, while the Dow ended up 0.3%. Investors await Friday's jobs report for insights into the labor market, which has shown strength despite higher interest rates.
Fed 'not far' from rate cuts
Federal Reserve Chair Jerome Powell signaled the central bank is "not far" from the point of cutting interest rates. But in remarks to the Senate Banking Committee, Powell didn't give a clear timetable for when the Fed will begin easing. "I think we're in the right place," the Fed chief said of the current policy stance.
Biden's fiery State of the Union
President Joe Biden delivered a fiery State of the Union address fit for an election year that holds high stakes for a divided nation. He also laid out plans to reform the corporate tax system and lower costs for Americans, ahead of his likely rematch against former President Donald Trump.
SEA smartphone market booming
Research showed Southeast Asia's smartphone market is booming so far this year, while China's remained weak. The region's top five markets saw 7.26 million smartphone units shipped, a significant 20% rise from the same period last year. This shows recovery for