CNBC Daily Open: Focus turns to key inflation data

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A shopper in the seasonal aisle of a Target store on Black Friday in Chicago, Illinois, US, on Friday, Nov. 25, 2022. US retailers are bracing for a slower-than-normal Black Friday as high inflation and sagging consumer sentiment erode Americans demand for material goods. Photographer: Christopher Dilts/Bloomberg via 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 . Japan stocks retreat Japan's Nikkei 225 and Topix fell Thursday as the yen weakened against the U.S. dollar. Australian stocks hit a fresh high, whille Hong Kong's Hang Seng and mainland China's CSI 300 also gained. Overnight, U.S. stocks rallied as the S&P 500 rose 0.86% to close at a record, while the Dow gained 1.22%. The Nasdaq Composite added 0.51% with the major averages set to end the first quarter on a strong note. Xi on China tech progress Chinese President Xi Jinping told Dutch Prime Minister Mark Rutte that no force can stop China's tech advance. Beijing has "legitimate development rights," he said, according to Xinhua News Agency. Separately, Xi also told U.S. executives that bilateral ties can have a "brighter future" and vowed to improve the business environment. Yellen on China dumping U.S. Treasury Secretary Janet Yellen warned that China is dumping its surplus of solar panels and EVs on global markets, distorting market prices. She added Beijing's actions are likely to hurt U.S. green manufacturing firms. Yellen said she will pressure China on these practices during her upcoming trip to the country. Baltimore port crisis Global ocean carriers are putting U.S. companies on the hook for urgent cargo pickup as a result of the Port of Baltimore bridge collapse. The next few days could prove crucial in diverting trade away from the port, logistics executives told CNBC, after a container ship collided into the Francis Scott Key Bridge early Tuesday. [PRO] Is it time to hedge? Investors anxious over a market decline should hedge their positions to limit risk in financial assets, according to fund managers. "So I do think it's time to hedge if you're in an index or you're in specific companies that have done extremely well this year or even last year," said David Neuhauser, the founder and chief investment officer of Livermore Partners.