CNBC Daily Open: U.S. manufacturing drag continues

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Workers assemble printed circuit boards at the Intervala manufacturing facility in Mount Pleasant, Pennsylvania, US, on Tuesday, Jan. 30, 2024. The US Census Bureau is scheduled to release factory orders figures on February 2. 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 . Wall Street hits new high U.S. stocks wrapped up Friday's session on a strong note. The Nasdaq Composite rose to an all-time high, crossing its 2021 record, soaring over 1%.The S&P 500 also closed at a fresh high, adding 0.80% to close above the 5,100 level for the first time. The blue-chip Dow rose around 91 points. China key meetings in focus China is set to hold its annual parliamentary meetings this week that will be closely watched by investors for signals on economic stimulus. An ailing property sector and sluggish growth has raised questions on whether Beijing will step in with large-scale support. So far, policymakers have been relatively reserved on that front. OPEC+ extends oil cuts OPEC+ producers together with Saudi Arabia and Russia will extend their voluntary crude supply cuts until the end of the second quarter. U.S. crude oil futures touched $80 a barrel for the first time since November, pointing to a tightening market ahead of the OPEC+ decision. U.S. debt rising U.S. national debt is growing at a faster pace in recent months, rising about $1 trillion nearly every 100 days. It permanently crossed over to $34 trillion on Jan. 4, after briefly breaching the mark on Dec. 29, based on data from the U.S. Department of the Treasury. [PRO] The 'Fantastic Four' Hedge fund manager Dan Niles prefers the so-called "Fantastic Four" stocks, thanks to their earnings potential in 2024. He recommended Nvidia, Meta , Microsoft and Amazo n because of their booming AI businesses. "Those names are being driven by earnings," Niles told CNBC last week.