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CNBC Daily Open: The U.S. economy seems to be holding up

·1 min

Asia markets showed mixed performance as China property price data was evaluated. The CSI 300 index extended its winning streak for nine consecutive days, while Hong Kong’s Hang Seng index fell. Japan’s markets were closed for a holiday. In the US, the S&P 500 reached new highs on the back of Nvidia’s strong earnings, with the Dow also closing above 39,000 for the first time. Ride-hailing giant Grab announced its first profitable quarter and a $500 million share buyback. Social media firm Reddit filed for an IPO, and Google CEO Sundar Pichai highlighted the potential of artificial intelligence in mitigating cybersecurity threats. Goldman Sachs identified the “Seven Samurai” stocks in Japan as potentially significant. Despite positive economic indicators, Federal Reserve vice chair Philip Jefferson warned of risks including consumer spending, employment, and geopolitical tensions in the Middle East impacting commodity prices and financial markets.