This is a live blog from CNBC covering European markets.
European markets are trending higher on Tuesday as UK investors prepare for the 2024 Budget.
The Budget is due to be tabled in the UK Parliament by Prime Minister Jeremy Hunt and outlines the government’s tax and spending plans. He is widely expected to announce cuts to National Insurance tax.
In other news, futures Stocks related to the Nasdaq 100 rose Tuesday night after all three major averages fell sharply.
Investors will take note Testimony of Federal Reserve Chairman Jerome Powell Wednesday in the House Financial Services Committee. They will seek more clarity on the central bank’s monetary policy position and clues about the pace and timing of rate cuts expected this year. Central bank leaders are scheduled to speak to the Senate Banking Committee on Thursday.
Asia Pacific market Stocks were mixed on Wednesday, with Hong Kong shares leading the regional gains, rising more than 2%. Mainland Chinese stocks fell, with the CSI 300 index down 0.6%. applefollowing reports that iPhone sales have decreased in China.
CNBC Pro: Diversifying your AI efforts – these are the best alternatives to Nvidia, fund managers say
Nvidia They may have soared on the back of the artificial intelligence boom, but many other tech stocks also benefited.
As with any investment theme, diversification is required.
Veteran tech investor Paul Meeks told CNBC Pro that even though Nvidia is a “great story,” when it comes to AI, “it’s too risky to be in just one company.”
Additionally, one analyst has named two startups that could become the next Nvidia.
CNBC Pro subscribers can read more here.
— Tan Weizhen
CNBC Pro: ‘Once in a lifetime opportunity’?List three stocks that wealth managers are currently paying attention to.
Wealth manager Brian Bendig is bullish on stocks this year and says there are opportunities for investors beyond the headline makers in 2023.
“This year’s earnings outlook is expansionary, and we believe there is an opportunity for stock prices to move higher as the earnings slowdown observed for much of last year is behind us,” Bendig, president of MJP Wealth Advisors, said in a note to CNBC. ” he said.
“There are a number of sectors in the market that did not contribute significantly to last year’s returns, including healthcare, industrials, materials, financials and consumer staples, which presents opportunities for investors.”
CNBC Pro subscribers can read more here.
— Amara Balakrishna
European Market: Click here for opening call
European markets are set to open higher on Wednesday.
british FTSE100 The index is expected to open 5 points higher at 7,648. dachshund France, up 29 points to 17,721 CAC Italy with 7,938 points, 8 points higher FTSE MIB It rose 40 points to 33,203, according to IG data.
Data releases include German trade statistics and euro area retail sales for January. Revenue comes from DHL Group and Legal & General.
— Holly Ellyatt
