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European markets move more open as investors weigh economic outlook – NBC 7 San Diego

This is CNBC’s live blog covering European markets.

European markets look to start the new trading week on a positive note on Monday as investors assess the economic outlook.

Global markets are mulling the possibility that the Fed is preparing to slow the pace of its inflation-fighting rate hikes after economic data last week showed a drop in wholesale prices and retail sales.

Fed Governor Christopher Waller said on Friday that he favors a hike of just a quarter of a point on February 1, when the central bank releases its next interest rate policy update. Waller also said rates are already high enough to slow the economy.

Kristalina Georgieva, managing director of the IMF, told the World Economic Forum on Friday that the global economic outlook is not as bad as feared a few months ago — “but less bad does not mean better.”

“We have to be careful,” she said at the closing panel of the World Economic Forum in Davos moderated by CNBC.

U.S. stock futures were little changed on Sunday night, while stocks in Asia were higher overnight, but most markets in the region were closed for the Lunar New Year holiday and markets in Shanghai were closed for the week.

The global economic outlook may be less dire – but we’re still not in a good place, IMF chief says

Kristalina Georgieva, managing director of the IMF, told the World Economic Forum on Friday that the global economic outlook is not as bad as feared a few months ago — “but less bad does not mean better.”

“We have to be careful,” she said at the closing panel of the World Economic Forum in Davos moderated by CNBC.

She said headline inflation was easing and China’s reopening was expected to boost global growth, with the IMF forecasting its economy to outpace global growth of 2.7% this year, to 4.4%, after falling below him for the first time in four decades last year.

Jenny Reid

CNBC Pro: Wall Street loves software stocks for the long term. Here are the top picks from Goldman, Citi and more

Software stocks were a pandemic darling, but their popularity faded as economies reopened.

Still, the technology subsector remains a key part of several long-term secular trends, such as cloud computing and artificial intelligence.

CNBC Pro looked at Wall Street research to find the best bank stocks to play the software sector.

Pro subscribers can read more here.

— Xavier Ong

European markets: Here are the initial calls

European markets are headed for a negative open on Thursday as investors remain uncertain about the economic outlook, a topic high on the agenda at the World Economic Forum in Davos this week.

Britain’s FTSE 100 index is expected to open 37 points lower at 7,793, Germany’s DAX 69 points lower at 15,125, France’s CAC 35 points at 7,052 and Italy’s FTSE MIB 77 points at 25,939, according to IG data.

CNBC will speak to a range of delegates at the World Economic Forum on Wednesday, including the CEOs of Enel, Merck, Rio Tinto and the leaders of the Netherlands and Ireland, among others.

Follow our coverage here.

— Holly Elliott

CNBC Pro: Analysts love this cash-strapped stock — giving it more than 75%

Investors are bracing for a bleak 2023 by doubling down on cash-rich companies.

Using data from FactSet, CNBC Pro took a look at the stocks that boast a lot of money and are best positioned for a tough year.

CNBC Pro subscribers can read more here.

— Weizhen Tan

CNBC Pro: Alphabet or Microsoft? Analysts predict which stock will come out on top

The launch of Microsoft-backed ChatGPT recently created a buzz on the Internet, and its popularity may have investors wondering what it means for Google parent Alphabet.

Analysts say the platform could pose a threat to Google’s bread-and-butter search business. ChatGPT, created by San Francisco-based OpenAI, is an artificial intelligence chatbot that can answer questions and write essays.

Both tech giants are competing in the cloud business.

CNBC Pro spoke with fund managers and reviewed Wall Street research to find out how the two stocks might fare — and whether they have a favorite.

CNBC Pro subscribers can read more here.

— Weizhen Tan

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