A shopper carries several bags in the Magnificent Mile shopping district of Chicago on Dec. 2, 2023.
Taylor Glascock | Bloomberg | Getty Images
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.
China lower
Asia markets tumbled Tuesday even as the People’s Bank of China slashed its five-year loan prime rate by 25 basis points to 3.95%. The CSI 300 fell, while Hong Kong’s Hang Seng index also dropped. Futures for S&P 500, Nasdaq 100 and the Dow Jones Industrial Average were all down as the U.S. markets return to trade after a holiday. On the corporate earnings front, results from Home Depot and Walmart are due before the bell.
Alibaba’s overseas bet
Chinese e-commerce giant Alibaba Group is placing its bets on overseas businesses as domestic growth remains weak. The company’s latest earnings showed its international e-commerce business unit was a bright spot, with revenue up 44% from a year ago.
Gold spike
Gold prices could hit $3,000 per ounce, and oil $100 per barrel by 2025, according to Citi, subject to any one of the three triggers: central banks’ aggressive purchases, stagflation, or a global recession.
Capital One merger
Capital One Financial will acquire Discover Financial Services in a $35.3 billion all-stock deal. The merger among two of the largest credit card issuers in the…
