CNBC Daily Open: Trump assassination attempt

This report is from today’s CNBC Daily Open, our 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.

Trump assassination attempt
The attempted assassination of former President Donald Trump at a rally in Pennsylvania on Saturday left one attendee and the gunman dead, and two more attendees in critical condition. Trump was grazed by a bullet and treated at a local hospital, but released late Saturday night. The FBI has identified the shooter, now deceased, as 20-year-old Thomas Matthew Crooks of Bethel Park, Pa. He used a semi-automatic weapon, according to NBC News. You can find more live updates here. 

China’s Third Plenum
China’s real estate problems may be massive, but analysts expect the upcoming Third Plenum to focus on high local government debt levels and promoting advanced manufacturing. “The key challenge faced by Beijing is to find an alternative fiscal system, as the current one, which relies heavily on land sales, is under severe pressure due to the plunging land market,” Larry Hu, chief China economist at Macquarie, told CNBC. The much-anticipated delayed policy meeting, scheduled for Monday to Thursday, is a major gathering of the top members of the ruling Communist Party of China that typically happens only once every five years. CNBC’s Evelyn Cheng explains how investors can play the biggest political event in six years.

Dow above 40,000, again
The Dow Jones Industrial Average hit an all-time high and closed above 40,000 for the first time since May, driven by gains in Home Depot and Caterpillar, as investor sentiment shifts away from Big Tech towards some industrial stocks. The move was sparked by hopes of a Fed rate cut following a softer-than-expected inflation report. The S&P 500 and Nasdaq also rose, but at a slower pace than the Dow, which gained 1.6% for the week. The Russell 2000 also saw significant gains, rising 6%, amid increasing optimism for smaller companies. For further reading, CNBC’s Michael Santoli takes a look at the 21-month bull run and the pivot away from Big Tech.

Google’s biggest deal?
Google’s parent company Alphabet is nearing a $23 billion deal to acquire Wiz, an Israeli cybersecurity startup specializing in cloud security, the Wall Street Journal reported, citing sources. The acquisition would be Google’s largest ever. Founded in 2020, Wiz has quickly grown and secured investments from prominent firms like Sequoia Capital and Insight Partners. The potential deal reflects Google’s increasing focus on bolstering its cybersecurity offerings and cloud computing capabilities.

Dimon inflation warning
JPMorgan Chase CEO Jamie Dimon has warned that inflation and interest rates may remain high despite recent easing in price…