CNBC Daily Open: Even meme stocks are rallying in this market

2023-07-25 - Scroll down for original article

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This report is from today's CNBC Daily Open, our new, 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 . Stocks rally Major U.S. stock indexes ended Monday in the green, with the Dow Jones Industrial Average notching an 11-day winning streak. Asia-Pacific markets traded higher Tuesday on the back of China's Politburo meeting (more on that below). Hong Kong's Hang Seng Index surged more than 3% as Chinese stocks jumped. Mainland China's Shanghai Composite and Shenzhen Component rose around 2%. China's 'tortuous' recovery China's Politburo, the top decision-making body of the Chinese Communist Party, met Monday and pledged to "adjust and optimize policies in a timely manner" for its property sector. Acknowledging the country's disappointing economic data, the Politburo said "the economy is facing new difficulties" and that the economic recovery will be "tortuous" — though it didn't announce any major stimulus for now. Ex-Twitter Twitter rebranded to "X" and dumped its iconic bird logo. The transition from Twitter to X is part of owner Elon Musk's vision to turn the platform into an "everything app" that is "centered in audio, video, messaging, payments/banking," according to CEO Linda Yaccarino's tweet — sorry — "x," in the brand's new parlance for short messages. Analysts are skeptical of the move. Busy week for central banks The U.S. Federal Reserve, the European Central Bank and the Bank of Japan will all announce interest rate decisions this week. Analysts are expecting the Fed to hike rates by 25 basis points; the ECB to raise rates by 25 basis points as well; and the BOJ to keep its ultra-loose monetary policy intact. However, the central banks could pivot at the meeting following this week's. [PRO] Compound dividends Investors don't buy stocks just for the prospect of profits as prices rise. Dividends, or payouts, are a large part of stocks' appeal too. Using FactSet data, CNBC Pro screened 100,000 stocks to identify just four major stocks from around the world that have raised dividends by more than 10% annually over the past 15 years.