Stocks in action: BKW up 4%, Tenaris down 5%
Swiss power company black and white After predicting an “outstanding” full-year result for 2022, it jumped 6% in early trading to lead the Stox 600.
italian steel pipe manufacturer Tenaris Europe’s blue chip index fell 5% to the bottom.
– Elliott Smith
CNBC Pro: Analysts see these 10 global renewable energy stocks rising despite high interest rates, with one showing a 50% gain.
Soaring energy costs are accelerating investments in renewable energy around the world.
Swiss investment bank UBS named 10 prominent renewable energy companies capitalizing on this trend, set to outperform next year.
CNBC Pro subscribers can read more here.
— Ganesh Rao
CNBC Pro: Morgan Stanley Sees 55% Gain, Wall Street Bullish on This Chip Giant
The once-popular chip sector took a hit in 2022, but Wall Street appears to be more optimistic about semiconductor stocks in the year ahead.
Recently, some pundits have urged investors to take a longer-term view of the sector, given the importance of chips in several key long-term trends.
Analysts singled out one stock as particularly bullish because of its earnings potential and future profitability.
CNBC Pro subscribers can read more here.
— Tan Weizhen
US will avoid recession in 2023, says Goldman Sachs
Goldman Sachs makes non-consensus forecasts for the US economy in 2023.
“Our economists continue to believe that the US can avoid a recession because the Fed has successfully delivered a soft landing for the economy,” analysts wrote on Tuesday.
“This out-of-consensus forecast reflects, in part, our view that a period of below-potential growth will be sufficient to gradually rebalance the labor market and reduce wage and price pressures.” said the memo. “However, this is also consistent with our analysis showing that the impact of tightening fiscal and monetary policy will taper off sharply next year, in contrast to the consensus view that the delayed impact of rate hikes will trigger a recession in 2023. It reflects
Additionally, the bank today raised its GDP growth forecast for the fourth quarter of 2022 by 10bp to +2.1%, following a surprisingly strong November construction spending.
“The disconnect between the resilience of the U.S. economy in 2022 and the downtrend experienced by equities has been the story of the past year,” Goldman said. Whether the market rallies in the wake of a downdraft or a soft landing in the economy could be part of the narrative for 2023 at least.”
— Carmen Reinicke
CNBC Pro screens low volatility stocks as fears bumpy road ahead
The stock market has endured disastrous conditions in 2022 as major indices posted their worst performance in over a decade.
As market experts warn investors of rocky times ahead, CNBC Pro uses data from FactSet to not only beat the market in 2022, but is expected to rise even higher this year We have selected low volatility stocks.
Pro subscribers can read more here.
— Xavier Ong
European Market: Click here for the opening call
European markets head into Wednesday’s trading volumes as investors await the latest US Federal Reserve meeting minutes and look for signs of interest rate hikes.
British FTSE100 The index is expected to open 11 points higher at 7,570 in Germany. Dax 28 points higher 14,227, France CAC Italy’s FTSE MIB According to IG data, it is up 31 points at 24,449.
In Europe on Tuesday, markets rose and closed higher after Germany announced a weaker-than-expected December inflation rate of 9.6% year-on-year. French inflation is due to be released on Wednesday.
— Holly Eliyat
