News from WEF, data and earnings

News from WEF, data and earnings

CNBC Pro: This under-the-radar global carbon capture stock could soar by 65%, investment banks say

Shares of an under-the-radar carbon capture company are expected to rise by 65% due to increasing global demand for emissions reduction technology, according to investment banks analyzing the stock.

The company’s latest innovation, revealed last week, could cut the energy needed to capture carbon and improve the company’s profitability in the future, according to analysts at a German investment bank.

CNBC Pro subscribers can read more here.

— Ganesh Rao

Where the major indexes stand coming off the first two weeks of 2023 trading

With the first two weeks of 2023 trading done, the three major indexes are up so far for the year.

The Nasdaq Composite is leading the way, adding 5.9% as investors bought beaten-down technology stocks on rising hopes of an improving landscape for growth holdings. The S&P 500 and Dow followed, gaining 4.2% and 3.5%, respectively.

— Alex Harring

China’s retail sales beat estimates, economy expands more than expected

China’s December retail sales beat estimates, falling only 1.8% on an annualized basis, significantly better than the decline of 8.6% projected in a Reuters poll.

Industrial output also grew 1.3% in December, higher than expectations for an increase of 0.2%.

In the fourth quarter, China’s economy expanded by 2.9% on an annualized basis, better than the expected 1.8% growth. While quarterly growth was flat, it still beat expectations for a 0.8% contraction.

Despite better-than-expected data, the Chinese offshore yuan weakened sharply from 6.7403 to 6.7563 against the U.S. dollar shortly after the release.

European markets: Here are the opening calls

European markets are heading for a flat to lower open Tuesday, with concerns about the global economy high on the agenda at the World Economic Forum in Davos this week.

The U.K.’s FTSE 100 index is expected to open 1 point higher at 7,862, Germany’s DAX 31 points lower at 15,111, France’s CAC down 14 points at 7,033 and Italy’s FTSE MIB down 37 points at 25,836, according to data from IG.

CNBC will be speaking to a range of delegates at the World Economic Forum on Tuesday, including the presidents of Spain, Latvia, Lithuania and Poland and the CEOs of Unilever, UBS, Allianz and Swiss Re, among many others. Follow our coverage here.

— Holly Ellyatt

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