CNBC Daily Open: Is China a no-go for U.S. investment?
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Clement Tan
@clemtan
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This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here .
What you need to know today
Shelter costs drive U.S. July inflation The U.S. consumer price index rose 3.2% from a year ago in July, slightly less than expected — a sign that inflation has lost at least some of its grip on the U.S. economy. Almost all of the monthly inflation increase came from shelter costs, which rose 0.4% and were up 7.7% from a year ago. Prices accelerated a seasonally adjusted 0.2% for the month, in line with the Dow Jones estimate, the Bureau of Labor Statistics reported Thursday. Here's the inflation breakdown for July, in one chart . Markets reacted favorably, expecting July's tame inflation reading to mean no more interest rate hikes from the Federal Reserve.
Asian markets have somber finish to the week Asian shares are poised to end the week on a weak note, with all major benchmarks trading lower on the day — extending weakness overnight in U.S. markets. Japan markets were shut for the Mountain Day public holiday on Friday. Hong Kong's Hang Seng Index shed 0.6%, as a sell-off in Chinese real estate developer counters deepened. On Thursday, the blue chip Dow Jones Industrial Average , S&P 500 and Nasdaq Composite all closed higher, but notably off session highs .
What does Biden's order mean for U.S. investors in China? U.S. President Joe Biden on Wednesday signed an executive order aimed at restricting U.S. investments into Chinese semiconductor, quantum computing and artificial intelligence companies due to national security concerns. While the Biden administration has set out some perimeters of its intended goals, its 45-day public comment period gives U.S. investors significant potential to influence any final regulation. Here's what to expect next.
Fires and hurricanes Hawaii is burning. Biden on Thursday declared a major disaster in Hawaii , vowing immediate assistance for Maui residents who have lost loved ones and their homes in devastating wildfires. At least 53 people have died so far. The fires are the worst natural disaster to hit Hawaii in recent memory, but they're not likely the last for the U.S. this year. National Oceanic and Atmospheric Administration scientists on Thursday increased the chance that this year will be an above-normal Atlantic hurricane season to 60% because of record hot ocean temperatures.
[PRO] Buy Nvidia? Investors may want to consider using the recent weakness in chipmaker Nvidia to snatch up shares of the artificial intelligence darling, some Wall Street analysts are saying.
The bottom line
A new reality beckons for American private equity and venture capitalists.
President Joe Biden finally dropped his long-awaited executive order late Wednesday, curbing fresh U.S. technology investment in China — it's the first time the U.S. government is imposing restrictions on how U.S. capital flows out of the country, according to Elena McGovern , co-head of the national security practice at private equity advisory firm Capstone.
And more could be in store, given the priority on national interest and security.
Biden's order specifically targets new U.S. investment and transfer of expertise in semiconductors and microelectronics, quantum computing, and certain AI capabilities in China, Hong Kong and Macao.
The U.S. Treasury Department is still in the process of firming up specific details before the measure can be fully enforced, maybe sometime next year.
But it's a clear signal that the world's second-largest economy is no longer a clear-cut option for American capital.
As it stands, U.S. firms have generally held back from investing in China in the past few years due to a weakening growth environment and the fraught prevailing geopolitical environment.
That's bad news for Beijing, which needs foreign capital and technological transfers to bolster sagging growth momentum and elevate its economy up the value chain.
There are other ways to accomplish that, but Biden's executive order just made things more difficult for some. More ingenuity lies in store.
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Make It. select ALL SELECT Credit Cards Loans Banking Mortgages Insurance Credit Monitoring Personal Finance Small Business Taxes Help for Low Credit Scores Investing SELECT All Credit Cards Find the Credit Card for You Best Credit Cards Best Rewards Credit Cards Best Travel Credit Cards Best 0% APR Credit Cards Best Balance Transfer Credit Cards Best Cash Back Credit Cards Best Credit Card Welcome Bonuses Best Credit Cards to Build Credit SELECT All Loans Find the Best Personal Loan for You Best Personal Loans Best Debt Consolidation Loans Best Loans to Refinance Credit Card Debt Best Loans with Fast Funding Best Small Personal Loans Best Large Personal Loans Best Personal Loans to Apply Online Best Student Loan Refinance SELECT All Banking Find the Savings Account for You Best High Yield Savings Accounts Best Big Bank Savings Accounts Best Big Bank Checking Accounts Best No Fee Checking Accounts No Overdraft Fee Checking Accounts Best Checking Account Bonuses Best Money Market Accounts Best CDs Best Credit Unions SELECT All Mortgages Best Mortgages Best Mortgages for Small Down Payment Best Mortgages for No Down Payment Best Mortgages with No Origination Fee Best Mortgages for Average Credit Score Adjustable Rate Mortgages Affording a Mortgage SELECT All Insurance Best Life Insurance Best Homeowners Insurance Best Renters Insurance Best Car Insurance Travel Insurance SELECT All Credit Monitoring Best Credit Monitoring Services Best Identity Theft Protection How to Boost Your Credit Score Credit Repair Services SELECT All Personal Finance Best Budgeting Apps Best Expense Tracker Apps Best Money Transfer Apps Best Resale Apps and Sites Buy Now Pay Later (BNPL) Apps Best Debt Relief SELECT All Small Business Best Small Business Savings Accounts Best Small Business Checking Accounts Best Credit Cards for Small Business Best Small Business Loans Best Tax Software for Small Business SELECT All Taxes Best Tax Software Best Tax Software for Small Businesses Tax Refunds SELECT All Help for Low Credit Scores Best Credit Cards for Bad Credit Best Personal Loans for Bad Credit Best Debt Consolidation Loans for Bad Credit Personal Loans if You Don't Have Credit Best Credit Cards for Building Credit Personal Loans for 580 Credit Score or Lower Personal Loans for 670 Credit Score or Lower Best Mortgages for Bad Credit Best Hardship Loans How to Boost Your Credit Score SELECT All Investing Best IRA Accounts Best Roth IRA Accounts Best Investing Apps Best Free Stock Trading Platforms Best Robo-Advisors Index Funds Mutual Funds ETFs Bonds. USA. INTL. watch live. Search quotes, news & videos. Watchlist. SIGN IN. Create free account. Markets. Business. Investing. Tech. Politics. CNBC TV. Watchlist. Investing Club. PRO. Menu. Daily Open. Clement Tan. @clemtan. WATCH LIVE. This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here . What you need to know today. Shelter costs drive U.S. July inflation The U.S. consumer price index rose 3.2% from a year ago in July, slightly less than expected — a sign that inflation has lost at least some of its grip on the U.S. economy. Almost all of the monthly inflation increase came from shelter costs, which rose 0.4% and were up 7.7% from a year ago. Prices accelerated a seasonally adjusted 0.2% for the month, in line with the Dow Jones estimate, the Bureau of Labor Statistics reported Thursday. Here's the inflation breakdown for July, in one chart . Markets reacted favorably, expecting July's tame inflation reading to mean no more interest rate hikes from the Federal Reserve. Asian markets have somber finish to the week Asian shares are poised to end the week on a weak note, with all major benchmarks trading lower on the day — extending weakness overnight in U.S. markets. Japan markets were shut for the Mountain Day public holiday on Friday. Hong Kong's Hang Seng Index shed 0.6%, as a sell-off in Chinese real estate developer counters deepened. On Thursday, the blue chip Dow Jones Industrial Average , S&P 500 and Nasdaq Composite all closed higher, but notably off session highs . What does Biden's order mean for U.S. investors in China? U.S. President Joe Biden on Wednesday signed an executive order aimed at restricting U.S. investments into Chinese semiconductor, quantum computing and artificial intelligence companies due to national security concerns. While the Biden administration has set out some perimeters of its intended goals, its 45-day public comment period gives U.S. investors significant potential to influence any final regulation. Here's what to expect next. Fires and hurricanes Hawaii is burning. Biden on Thursday declared a major disaster in Hawaii , vowing immediate assistance for Maui residents who have lost loved ones and their homes in devastating wildfires. At least 53 people have died so far. The fires are the worst natural disaster to hit Hawaii in recent memory, but they're not likely the last for the U.S. this year. National Oceanic and Atmospheric Administration scientists on Thursday increased the chance that this year will be an above-normal Atlantic hurricane season to 60% because of record hot ocean temperatures. [PRO] Buy Nvidia? Investors may want to consider using the recent weakness in chipmaker Nvidia to snatch up shares of the artificial intelligence darling, some Wall Street analysts are saying. The bottom line. A new reality beckons for American private equity and venture capitalists. President Joe Biden finally dropped his long-awaited executive order late Wednesday, curbing fresh U.S. technology investment in China — it's the first time the U.S. government is imposing restrictions on how U.S. capital flows out of the country, according to Elena McGovern , co-head of the national security practice at private equity advisory firm Capstone. And more could be in store, given the priority on national interest and security. Biden's order specifically targets new U.S. investment and transfer of expertise in semiconductors and microelectronics, quantum computing, and certain AI capabilities in China, Hong Kong and Macao. The U.S. Treasury Department is still in the process of firming up specific details before the measure can be fully enforced, maybe sometime next year. But it's a clear signal that the world's second-largest economy is no longer a clear-cut option for American capital. As it stands, U.S. firms have generally held back from investing in China in the past few years due to a weakening growth environment and the fraught prevailing geopolitical environment. That's bad news for Beijing, which needs foreign capital and technological transfers to bolster sagging growth momentum and elevate its economy up the value chain. There are other ways to accomplish that, but Biden's executive order just made things more difficult for some. More ingenuity lies in store. Subscribe. More In Daily Open. CNBC Daily Open: Chilling effect. Clement Tan. CNBC Daily Open: Inflation, earnings and the American consumer. Clement Tan. CNBC Daily Open: The American consumer. Clement Tan. Read More. Subscribe to CNBC PRO. Licensing & Reprints. CNBC Councils. Select Personal Finance. CNBC on Peacock. Join the CNBC Panel. Supply Chain Values. Select Shopping. Closed Captioning. Digital Products. News Releases. Internships. Corrections. About CNBC. Ad Choices. Site Map. Podcasts. Careers. Help. Contact. News Tips. Got a confidential news tip? We want to hear from you. Get In Touch. Advertise With Us. Please Contact Us. CNBC Newsletters. Sign up for free newsletters and get more CNBC delivered to your inbox. Sign Up Now. Get this delivered to your inbox, and more info about our products and services. Privacy Policy. |. Do Not Sell My Personal Information. |. CA Notice. |. Terms of Service. © 2023 CNBC LLC. All Rights Reserved. A Division of NBCUniversal. Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Market Data Terms of Use and Disclaimers. Data also provided by.