CNBC Daily Open: The S&P could continue its ascent despite pausing

Other than the Nasdaq, markets mostly fell 
U.S. markets were mixed Tuesday. The S&P 500 and Dow Jones Industrial Average dipped somewhat but were adjacent to the flatline. However, the Nasdaq Composite added 0.18%. Asia-Pacific shares mostly traded higher Wednesday, lifted by capitalist sentiment implicit blockbuster listings by Tokyo Metro and China Resources Beverage.

Red blistery debut by Tokyo Metro 
Tokyo Metro shares rocketed astir 45% aft listing publically connected Wednesday. The Japanese subway operator's archetypal nationalist offering attracted 348.6 cardinal yen ($2.3 billion), making it Japan's biggest IPO successful six years. Tokyo Metro is simply a "cash cow," said Jesper Koll, adept manager astatine fiscal services steadfast Monex Group. 

IMF revised China's maturation downwards 
The International Monetary Fund lowered its forecast for China's growth this twelvemonth to 4.8% from 5% successful July, according to its World Economic Outlook report published Tuesday. The IMF expects China's gross home merchandise to summation by a slower 4.5% successful 2025 arsenic the country's spot assemblage mightiness proceed weighing down the economy.  

TSMC denies supplying Huawei with chips 
The Information, a tech-focused publication, reported past week that the Commerce Department was probing whether TSMC had been making AI oregon smartphone chips for Huawei, successful usurpation of U.S. export rules. The institution disputed the report, telling CNBC connected Wednesday that "TSMC is simply a law-abiding institution and we are committed to complying with each applicable rules and regulations." 

[PRO] Growth oregon worth stocks?
Companies that absorption connected maturation transmission astir of their gross – and loans – backmost into their concern to grow operations. Hence, maturation stocks thin to bash amended erstwhile the system is expanding and involvement rates are debased – the existent situation successful the U.S. However, immoderate strategists deliberation value stocks mightiness beryllium a amended play now.

The S&P is up much than 22% twelvemonth to day and has breached aggregate grounds closes connected its mode to that peak. 

Still, the broad-based index's ascent has slowed successful caller days. On Tuesday, the S&P ticked down 0.05% for its archetypal back-to-back losing time since aboriginal September.  

On the rally pause, Barclays wrote: "We present urge moving to the sidelines. We deliberation investors are apt to arsenic well; the hazard rally should stall for the adjacent fewer weeks." 

When a fast-moving conveyance stalls, however, it could inactive rev backmost to life. Notably, each large U.S. indexes are trading supra some their 50- and 200-day moving average, suggesting they person guardant momentum. 

Indeed, UBS Wealth Management this period upgraded its standing connected U.S. stocks to charismatic from neutral. "We deliberation a 'no landing' script is affirmative for US and planetary equities," said UBS GWM Chief Investment Officer Mark Haefele.  

There are "signs that the long-run inclination maturation complaint whitethorn beryllium higher than antecedently estimated," added Haefele. 

The International Monetary Fund besides thinks maturation successful the U.S. volition stay robust. In its latest World Economic Outlook, the IMF accrued its estimation for U.S. GDP successful 2024 to 2.8% from its 2.6% forecast successful July, portion raising its 2025 maturation forecast for the country. It's the lone precocious system that had its economical trajectory revised upwardsfor some years by the IMF . 

The U.S. has its consumers to convey for that. "The resilience of depletion is mostly the effect of robust increases successful existent wages," the IMF wrote successful its report. 

With the looming statesmanlike predetermination and precocious banal valuations, the way up for markets whitethorn beryllium rocky for now. But the S&P mightiness persist successful scaling the rocky ridges of an ever-ascending upland range.   

— CNBC's Brian Evans, Hakyung Kim, Pia Singh and Samantha Subin contributed to this report.