33 minutes ago
China’s factory activity expands in March, unexpectedly
China’s factory activity expanded in March, ending a five-month streak of contraction and surprising expectations.
The country’s Manufacturing Purchasing Managers Index stood at 50.8, according to official data.
This is a smaller number than the 49.1 in February and the 49.9 expected in a Reuters poll.
Separately, the non-manufacturing PMI rose to 53.0 from 51.4 in January.
— Lim Huijie
33 minutes ago
China’s factory activity expands in March, unexpectedly
China’s factory activity expanded in March, ending a five-month streak of contraction and surprising expectations.
The country’s Manufacturing Purchasing Managers Index stood at 50.8, according to official data.
This is a smaller number than the 49.1 in February and the 49.9 expected in a Reuters poll.
Separately, the non-manufacturing PMI rose to 53.0 from 51.4 in January.
— Lim Huijie
1 hour ago
CNBC Pro: Fund manager says payments company has Nvidia-like profit margins and is more sustainable
Nvidia’s stock price has soared amid artificial intelligence hype, leading some investors to question the sustainability of the company’s valuation.
The stock’s free cash flow (FCF) yield for next year is trading at a high 2.5%, which is causing some investors to be wary. Historically, Nvidia was trading at his FCF yield of 4% before the pandemic.
Hannah Gooch Peters, global equity investment analyst at Sanlam Investments, believes there are other stocks like Nvidia with operating margins of 60% that are more sustainable investment opportunities.
CNBC Pro subscribers can read more here.
— Ganesh Rao
1 hour ago
CNBC Pro: AI is power hungry.Morgan Stanley’s top portfolio manager says it’s an opportunity for some stocks.
Many high-tech companies are rapidly developing infrastructure for artificial intelligence as they compete for dominance in this competitive market.
AI is extremely power intensive. And that power demand is only going to increase in the coming years.
Aaron Dunn of Morgan Stanley Investment Management points to one stock that is driving the trend.
CNBC Pro subscribers can read more here.
— Tan Weizhen
