European markets set to start new trading week in positive territory; investors prepare

6 Hours Ago

Goldman Sachs says it’s time to buy this unloved global sector — and names some top stocks

Europe’s utilities sector may have come under pressure over the past three years, but Goldman Sachs says a shift is underway, naming stocks to play the industry in 2024.

“We believe that the improved outlook on inflation and interest rates is likely to favor capital intensive/long duration assets, such as Renewable Energy (where the capital cycle also appears to have positively inflected, as evidenced by rising returns) and Power Grids (where the market appears to be overlooking the incremental organic growth opportunities),” the bank’s analysts wrote.

The investment bank named a bunch of stocks it expects to rise by 30%.

CNBC Pro subscribers can read more here.

— Amala Balakrishner

6 Hours Ago

CNBC Pro: These are Wall Street’s top picks for semiconductor stocks this year

Semiconductor stocks had a good year in 2023, bouncing back from the post-pandemic underperformance of 2022.

The PHLX Semiconductor index (Sox) index surged 65% in 2023, well outpacing the S&P 500.

Banks such as BofA and UBS are still bullish on the semiconductor sector despite its strong run in 2023.

CNBC Pro scoured through recent Wall Street research in January to look for the top 2024 semiconductor picks that analysts named.

Subscribers can read more here.

— Weizhen Tan

An Hour Ago

European markets: Here are the opening calls

European markets are set to open in positive territory Monday.

The U.K.’s FTSE 100 index is expected to open 13 points higher at 7,630, Germany’s DAX up 72 points at 16,759, France’s CAC up 30 points at 7,487 and Italy’s FTSE MIB up 132 points at 30,644, according to data from IG. 

Germany’s gross domestic product data for 2023 will be released Monday, as will Italian inflation data for December and the euro zone’s trade balance for November.

— Holly Ellyatt

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