Japan CGPI, RBNZ interest rate decision

Chinese internet technology giant NetEase has partnered with Microsoft to bring back Blizzard Entertainment’s games to the world’s second-largest economy.

The move comes after Blizzard ended the partnership between the two companies in 2023, citing disagreements over intellectual property management.

The press release states that the new publishing agreement includes games that Chinese players had access to under the previous agreement, such as World of Warcraft and Overwatch.

Separately, Microsoft and NetEase also signed an agreement to explore bringing new NetEase titles to Xbox consoles and other platforms.

Japan’s corporate goods price index rose 0.8% year-on-year in March, accelerating from February’s revised 0.7% rise and in line with economists’ forecasts compiled by Reuters.

Corporate inflation also rose for the third consecutive month.

Month-on-month, the CGPI rose 0.2%, slightly below the 0.3% rise expected by Reuters.

CGPI measures the price changes of products traded within the corporate sector.

— Lim Huijie

In a market where reliable sources of passive income are hard to find, two fund managers shared their insights on dividend stocks that offer attractive yields and growth potential.

Matt Burdett, Portfolio Manager at Thornburg Investments, looks for companies with the ability and desire to pay dividends, with a focus on cash generation and resilient business models.

Meanwhile, Keely Teton portfolio manager Brian Leonard told CNBC Pro that he looks for high-quality companies that pay dividends and trade at a discount to their “intrinsic value.” He also mentioned the spin-off situation as an investment opportunity.

CNBC Pro subscribers can read more about stock picks here.

— Ganesh Rao

After a bullish outlook for 2023, the market may have been up for much of this year, but stocks fell back last week.

However, overall, markets including global stocks remain in significantly positive territory.

The relative strength index (RSI), which measures the magnitude and speed of price movements, can be used by investors to determine whether a stock is overbought.

A stock with a 14-day RSI above 70 may be overbought and could be due for a pullback.

CNBC Pro screened the S&P 500 and Vanguard FTSE All World Ex-US ETF as the most overbought stocks using a 14-day RSI above 70.

CNBC Pro subscribers can read more here.

— Tan Weizhen

Yunyou Ma, chief investment officer at BMO Wealth Management, said Tuesday’s drop in stocks shows the market is questioning whether the rally has gone too far and too fast.

In particular, NVIDIA has experienced an eventful month, Ma said. Shares fell nearly 3% on Tuesday.

“I think a common concern that markets are experiencing today is that some of these growth prospects may not materialize as quickly or as strongly as they were priced in over the very short term.” said Ma.

In addition to Nvidia, several AI infrastructure and data center stocks were struggling on Tuesday, he added.

“There are stocks that are going to be driving some of the AI ​​revolution in earnest, but there are also stocks that are struggling on the day. So I think the question is why did we move on too quickly?” added Ma.

— Ha-Kyung Kim

Twelve S&P 500 stocks hit new highs on Tuesday. Among the names is Google’s parent company Alphabet, which announced an Arm-based chip at the Cloud Next conference in Las Vegas on Tuesday. U.S. mining company Freeport-McMoRan rose 2% after Bank of America called it a “high-quality copper-exposed” stock.

Here are some other names.

• Alphabet C stock has been trading at all-time highs dating back to the special distribution on April 2, 2014 (when the non-voting stock was created and began trading on April 3, 2014).
• Alphabet A shares hit new high since IPO on August 19, 2004
• Amazon.com transactions are at levels not seen since November 2021
• EOG resources trade at levels not seen since January 2023
• Emerson Electric, which traces the company’s history to 1890, trades at an all-time high
• Freeport-McMoRan trade is at the highest level since August 2011
• Packaging Corp. of America is trading at its highest price since its 2000 IPO

— Sarah Min, Chris Hayes

Here are the biggest stock moves during midday trading:

• Boeing — The plane maker fell more than 2% after the New York Times reported that regulators were investigating a whistleblower complaint about defects in the company’s 787 Dreamliner.
• Norfolk Southern — Railroad stocks rose 1%. Norfolk Southern Airlines announced it has reached a $600 million settlement in connection with the East Palestine derailment. The company also announced preliminary results for the first quarter.

See the complete list of companies in transition here.

— Samantha Subin