Nikkei record, oil price, OPEC+

Shares of Chinese electric car manufacturers listed in Hong Kong fell in early trading on Monday.

Li Auto shares led declines by nearly 11%, while Nio shares fell 4.6%, Xpeng shares fell 3.9%, and BYD shares fell 1.3%.

Fears of price wars still exist in China's electric car market, which is the largest in the world. BYD on Monday also launched a new version of its best-selling vehicle, the Yuan Plus crossover also known as the Atto 3 overseas, at a lower price than its discontinued predecessor, according to To Reuters.

Last week, Li Auto unveiled a new electric car called the “Mega”.

“In general, domestic OEMs appear to be developing a fear of missing out (FOMO) when it comes to price cuts,” Morgan Stanley analysts said in a note.

– Shreyashi Sanyal

Big US tech names were standout performers last year, as investors piled into the so-called “Big Seven” stocks: Alphabet, Amazon, Apple, Meta Platforms, Microsoft, Nvidia and Tesla.

Combined, these stocks were behind much of the gains that pushed the benchmark S&P 500 index up about 25% in 2023.

However, veteran investor and trader Adam Reynolds is looking beyond US tech to 10 lesser-known gems across Europe, Japan and Australia.

these Stocks, have a market capitalization of more than $50 billion and have recorded an overall growth rate of at least 30% returns annually over the past five years.

CNBC Pro subscribers can read more here.

– Amala Balakrishner

South Korea's industrial production fell for the second straight month in January, while retail sales grew during the period Month according to data.

Industrial production growth in January fell by 1.3%, from a revised 0.5% in the previous month. Expectations of a Reuters poll indicated an increase of 1 percent.

Retail sales in South Korea rose 0.8% in January, after falling 0.8% the previous month.

– Shreyashi Sanyal

The technology sector rose by about 2.4% this week as the best-performing sector on the Standard & Poor's 500 index. NetApp stock rose by 20.2% to lead the sector's gains.

Consumer Discretionary was the next best sector, rising 2.1%.

Meanwhile, the healthcare sector, which fell 1.1%, had its most underperforming week yet.

— Hakyung Kim

With all three major stock indexes posting gains for the fourth straight month, it's fair to wonder if the stock rally has been too hot, too fast.

All things considered, the bubble has not grown to gigantic proportions, Citi said.

“The current stock bubble is not (yet) very significant in terms of price appreciation, duration, valuation or sentiment. Some question whether it is a bubble in the first place given the outlook for strong earnings growth,” Citibank's Dirk Wheeler said. . “So we think the market probably has more room to run.”

He added that he remains optimistic about US stocks, especially technology stocks.

-Lisa Kailai Han

US crude oil futures topped $80 per barrel for the first time in nearly four months, as signs point to market tightening ahead of OPEC+'s decision on production cuts.

The April West Texas Intermediate contract rose more than 2%, or $1.78, to $80.04 a barrel, while May Brent crude futures added 2.15%, or $1.76, to $83.67 a barrel.

US and international crude posted a second straight monthly gain in February, with near-month contracts trading at a premium compared to later months, usually a sign of a tightening oil market.

OPEC+ is considering extending production cuts through the second quarter and possibly the end of the year, three sources in the organization said To Reuters this week. Sources told Reuters that the cartel and its allies are expected to make a decision on the cuts in the first week of March.

-Spencer Kimball