CNBC Daily Open: The Nasdaq Composite was the overachieving sibling last week

The Nasdaq Composite was an overachiever past week. After ending Friday higher — outperforming the S&P 500 and Dow Jones Industrial Average, some of which closed successful the reddish — the tech-heavy scale officially had 5 consecutive days of all-time closing highs.

On a play basis, the Nasdaq Composite, with its 2% advance, besides pulled up of the S&P 500's 1.6% summation and the Dow Jones Industrial Average's 1% rise.

Given the Nasdaq Composite's moniker arsenic the "tech-heavy index" (much favored by fiscal writers who person to travel up with galore ways to picture it), there's small astonishment successful saying that exertion companies were the main motor for its decorativeness astatine the apical of the podium.

But it's not conscionable immoderate tech. OpenAI seemed to be behind overmuch of the market's rise, suggesting the artificial quality communicative is inactive compelling to investors. Shares of Oracle soared past week mostly due to the fact that of a deal it had made with the artificial quality firm; companies associated with it, specified arsenic Broadcom and Nvidia, person besides had their stock prices lifted previously.

With a complaint chopped by the U.S. Federal Reserve each but definite to travel this week — which would particularly payment cash-burning, debt-ridden, yet-to-be-profitable tech startups similar OpenAI — the youngest of the 3 large U.S. indexes mightiness proceed to outshine its siblings successful the adjacent term.

Chinese EV players instrumentality combat to bequest European automakers connected their location turf

Germany past week played big to 1 of the world's biggest car shows — but successful the heartland of Europe's car industry, it was buzzy Chinese electrical car companies looking to outshine immoderate of the region's biggest brands connected their location turf.

Europe has go a focal constituent for the Asian firms. It's a marketplace wherever the accepted automakers are seen to beryllium lagging successful the improvement of electrical vehicles, adjacent arsenic they ramp up releases of caller cars. At the aforesaid time, Tesla, which was for truthful agelong seen arsenic the electrical conveyance marketplace leader, has seen income diminution successful the region.

— Arjun Kharpal