Live Updates – China data exceeds expectations

“India has always been at the forefront for us,” Samir Rahman, managing director of US aircraft manufacturer Bell Flight, told CNBC.

“As the fastest growing economy, and now with the largest population on the planet, we will continue to look at India as one of those markets that we need to be in,” he said.

Bell Flight said China remains an active market for them, and the company has delivered 150 aircraft to the country over the past five years.

Now, Bell Flight is looking to expand its business in the Indian market.

— Kwik ji an

Shares of K-pop agency YG Entertainment fell nearly 9% after South Korean media reported that Blackpink’s Lisa rejected a contract renewal offer from the agency.

The stock’s decline is YG’s biggest one-day decline since September 28, 2022.

Report from South Korea News outlet Star News The Thai-born member of the 4-person girl group has rejected two offers from YG, he says. The contract size was reportedly worth 50 billion South Korean won ($37.6 million).

Read the full story here.

– Lim Hui Ji

China’s retail sales and industrial production rose in August, with better-than-expected growth, according to data from the National Bureau of Statistics released on Friday.

Retail sales grew 4.6 percent in August compared to a year ago, exceeding growth expectations of 3 percent in a Reuters poll. The increase was also faster than the 2.5% year-on-year pace in July.

Industrial production also rose 4.5% in August from a year ago, better than expectations of 3.9% and faster than the 3.7% increase recorded in July.

However, investment in fixed assets rose by 3.2% year-on-year in August year-on-year. This missed expectations for a 3.3% increase and was slower than the 3.4% pace reported from July.

Read the full story here.

– Evelyn Cheng

Analysts at Capital Markets and Investment Group CLSA have selected three global stocks they expect to benefit from the “lucrative potential” of artificial intelligence.

“We estimate that the global AI market could reach $1 trillion by 2026, with generative AI, the next big driver of productivity and innovation, accounting for $100 billion,” the analysts said in a note.

CNBC Pro subscribers can read more here.

– Amala Balakrishner

Financial giants Goldman Sachs, JPMorgan Chase and Morgan Stanley saw their shares soar on Thursday, during what could mark the return of big tech IPOs.

Shares of Goldman Sachs and JPMorgan added more than 2%, while Morgan Stanley gained 1.7%.

Chipmaker Arm made its public trading debut on Thursday, marking the largest listing of 2023. Instacart and Klaviyo are also expected to list next week.

The rise in IPOs is particularly important for Goldman, which is more exposed to investment banking than its peers.

– Hakyung Kim, Heo Son

Analysts at Barclays have picked out “potential” winners and losers among consumer technology companies, naming stocks that are expected to do well – or poorly – when factors such as ease of repeat choice, logistics density and value of the item are taken into account.

“We believe it is still too early to declare AI a ‘winner’ and ‘loser’ in the consumer internet space. Instead, we believe the right thing for investors to do in pivotal times like today is to focus on the former key areas. “Technology shifts,” the analysts wrote in a Sept. 12 note titled “A Framework for Generative AI Success in the Consumer Internet.”

What stocks should you be careful of?

CNBC Pro subscribers can read more here.

– Amala Balakrishner

Wholesale inflation data for August came in hotter than expected, rising 0.7% during the month. That came ahead of the 0.4% increase expected by economists polled by Dow Jones.

Excluding food and energy, the figure rose 0.2% during the month, in line with estimates.

Retail sales also came in above expectations, rising 0.6% in August compared to July. This came ahead of the 0.1% increase that economists had expected. Excluding automobiles, retail sales rose 0.6% in August, versus an expected 0.4% increase.

-Samantha Sobin

Many investors have chosen to hold cash for a while as yields rise this year.

Yields have risen sharply since 2022 as the US Federal Reserve began aggressively raising interest rates to combat inflation. In May, the yield on 30-day U.S. Treasuries rose above 5%, and has remained at that level since then, the Wells Fargo Investment Institute said in an Aug. 28 note.

Professionals think about whether it is a good idea to keep cash for the rest of the year.

CNBC Pro subscribers can read more here.

-Weezin Tan

The energy sector led market gains on Thursday on the back of higher oil prices. The sector rose 1.3%, becoming one of the best performing Standard & Poor’s groups. Shares of Hess Corp, ONEOK and Marathon Oil rose at least 2%.

West Texas Intermediate (WTI) crude rose 1.8% to $90.12 a barrel, crossing the $90 threshold for the first time since November 2022. Brent crude rose 1.9% to $93.62, reaching a 10-month high. Oil prices jumped as expectations of shrinking supplies increased.

– Yun Lee

The S&P 500’s advance was broad with 409 names trading in positive territory at midday Thursday. All 11 sectors were on average in the green zone. The broader index recently rose by about 0.5%.

The energy sector was the leading sector on the S&P 500, rising more than 1.2% after oil prices rose. In fact, WTI prices reached their highest point since November 2022 after surpassing $90 per barrel. Shares of Marathon Oil and EOG Resources rose more than 2% each.

The real estate and materials sectors were the second and third best performing sectors, with increases of 1.2% and 1%, respectively.

Healthcare, consumer goods and financial stocks were the laggards.

– Sarah Maine