A true bull market — it’s not Wall Street

[Pelican Press 0]

This is the hidden content, please

• Sign In
• or
• Sign Up

A true bull market — it’s not Wall Street

Traders work the floor of the New York Stock Exchange on July 25, 2023, in New York City. 

Angela Weiss | AFP | 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.

What you need to know today

S&P’s record No. 37The 

This is the hidden content, please

• Sign In
• or
• Sign Up

 closed 

This is the hidden content, please

• Sign In
• or
• Sign Up

 ahead of Thursday’s 

This is the hidden content, please

• Sign In
• or
• Sign Up

, which could provide evidence for an interest rate cut. The index rose for the seventh straight day, registering its 37th record close this year. The

This is the hidden content, please

• Sign In
• or
• Sign Up

also hit an all-time high. The

This is the hidden content, please

• Sign In
• or
• Sign Up

added 258 points. Chip stocks were among the winners, with

This is the hidden content, please

• Sign In
• or
• Sign Up

rising almost 4% after

This is the hidden content, please

• Sign In
• or
• Sign Up

. Industry leader

This is the hidden content, please

• Sign In
• or
• Sign Up

jumped and

This is the hidden content, please

• Sign In
• or
• Sign Up

clocked its seventh consecutive record high. The yield on the 10-year

This is the hidden content, please

• Sign In
• or
• Sign Up

slipped, while

This is the hidden content, please

• Sign In
• or
• Sign Up

rose as

This is the hidden content, please

• Sign In
• or
• Sign Up

. You can read more on

This is the hidden content, please

• Sign In
• or
• Sign Up

here.

Archegos Hwang guiltyArchegos Capital Management founder 

This is the hidden content, please

• Sign In
• or
• Sign Up

by a Manhattan jury. Prosecutors accused Hwang and his deputy, Patrick Halligan, of lying to banks to secure billions of dollars that were used to inflate stock prices. Archegos collapsed in 2021. Both pleaded not guilty to multiple charges. They face up to 20 years in prison for each conviction.

This is the hidden content, please

• Sign In
• or
• Sign Up

‘ditches deal’

This is the hidden content, please

• Sign In
• or
• Sign Up

‘s

This is the hidden content, please

• Sign In
• or
• Sign Up

following a Bloomberg report stating

This is the hidden content, please

• Sign In
• or
• Sign Up

will not acquire the software company. The news comes amid increased regulatory scrutiny of proposed large tech acquisitions, including those by

This is the hidden content, please

• Sign In
• or
• Sign Up

and

This is the hidden content, please

• Sign In
• or
• Sign Up

. The acquisition of HubSpot, which specializes in marketing automation software for small- and medium-sized businesses, would have bolstered

This is the hidden content, please

• Sign In
• or
• Sign Up

’s business software revenue and diversified Alphabet’s portfolio.

Samsung smart ringSamsung

This is the hidden content, please

• Sign In
• or
• Sign Up

, its first smart ring, aiming to expand its health-tracking ecosystem and rival Apple’s advancements in the segment. The lightweight ring, equipped with 24/7 health monitoring sensors, comes amid slowing smartphone sales, prompting device makers to explore new revenue streams. Samsung is ******** on the Galaxy Ring’s health tracking capabilities, alongside its new

This is the hidden content, please

• Sign In
• or
• Sign Up

, to boost its market share.

Tesla meme stockBill ******, renowned investor and co-founder of Pimco, believes Elon Musk’s

This is the hidden content, please

• Sign In
• or
• Sign Up

is behaving like a

This is the hidden content, please

• Sign In
• or
• Sign Up

. “Tesla acting like a meme stock — sagging fundamentals, straight up price action,” the former chief investment officer and co-founder of Pimco said in a post on X Tuesday afternoon. “But then there seems to be a new meme stock every other day now. Most are pump and dump.” Tesla has risen for 11 days straight and is up 44% since June 24. 

[PRO] Doubling revenue growthNeedham analyst Laura Martin raised her price target for

This is the hidden content, please

• Sign In
• or
• Sign Up

to $260, suggesting a 13.7% upside from recent levels. While Apple shares have outperformed the

This is the hidden content, please

• Sign In
• or
• Sign Up

this year, they have seen smaller gains than the tech-focused

This is the hidden content, please

• Sign In
• or
• Sign Up

. Martin believes Apple can double its revenue growth —

This is the hidden content, please

• Sign In
• or
• Sign Up

. 

The bottom line

The S&P 500 notched its 37th record high. That may sound impressive, but the market is grinding higher on the backs of a handful of megacaps. However, there is another market that is in the midst of a broad-based bull run — clocking up

This is the hidden content, please

• Sign In
• or
• Sign Up

.

India’s benchmark

This is the hidden content, please

• Sign In
• or
• Sign Up

is up almost 12% this year. Not to be outdone, India’s S&P BSE Sensex has soared nearly 11% so far this year.

“

This is the hidden content, please

• Sign In
• or
• Sign Up

on its own,”

This is the hidden content, please

• Sign In
• or
• Sign Up

, chairman of Rockefeller International, told CNBC. “It’s the most expensive market in the world today. It’s the one country that’s having a true bull market, even compared to the U.S. The breadth of the Indian bull market is what you typically see in bull markets—everything is rising there, from the mid to small caps, they’re doing better than the large caps.”

The

This is the hidden content, please

• Sign In
• or
• Sign Up

appears to be nothing more than a blip on the radar — continuity under Prime Minister Narendra Modi and the prospect of economic growth have supercharged the market. Although,

This is the hidden content, please

• Sign In
• or
• Sign Up

has raised concerns in Western capitals as they attempt to shore up an

This is the hidden content, please

• Sign In
• or
• Sign Up

. 

“I would not say geopolitics is a major risk for investors in emerging markets,” Sharma said. “In fact, if anything, I think we will look back in history at the time the U.S. has imposed sanctions on Russia in an unprecedented way by weaponizing the dollar, that has set in motion where countries are trying to find their own alliances and trying to reduce their dependence on the U.S. dollar.”

“That’s why the price of

This is the hidden content, please

• Sign In
• or
• Sign Up

is doing so well, with central banks around the world buying gold in record numbers. I think emerging markets outside of India are extremely cheap.”

Back on Wall Street, the S&P climbed above 5,600 for the first time — with

This is the hidden content, please

• Sign In
• or
• Sign Up

,

This is the hidden content, please

• Sign In
• or
• Sign Up

and

This is the hidden content, please

• Sign In
• or
• Sign Up

among the mega-caps continuing their inexorable rise. It’s got many investors wondering if other stocks will make a comeback. 

“Is

This is the hidden content, please

• Sign In
• or
• Sign Up

dormant or is it *****?” Sharma asked. “If mean reversion is *****, this is going to be a pretty boring market where the same few stocks keep piling on, keep doing well in a way that has never happened before.”

— CNBC’s Jeff Cox, Brian Evans, Samantha Subin, Yun Li, Arjun Kharpal, Alex Harring, Spencer Kimball and Jesse Pound contributed to this report.

This is the hidden content, please

• Sign In
• or
• Sign Up

#true #bull #market #Wall #Street

This is the hidden content, please

• Sign In
• or
• Sign Up

This is the hidden content, please

• Sign In
• or
• Sign Up

For verified travel tips and real support, visit: https://hopzone.eu/