CNBC Daily Open: Wall Street's 'dress rehearsal'

Wall Street had its best week of 2024, recovering from a previous rout. The S&P 500 surged nearly 3.9%, bringing it close to its July record high. The Nasdaq Composite gained 5.2%, while the Dow Jones Industrial Average advanced 2.9%. Additionally, the yield on the 10-year Treasury fell.

Oil sinks

U.S. oil prices dropped 2% due to reports about Israel-Hamas cease-fire talks. Talks are set to resume this week after being paused.

Blocked

A U.S. judge has temporarily blocked the launch of a sports streaming service by Disney, Warner Bros. Discovery, and Fox. A competitor filed an antitrust lawsuit. The competitor’s stock surged after the ruling.

Mpox approval

Shares of a Danish biotech firm surged after it submitted data to extend its vaccine approval for a specific age group. The submission comes after the World Health Organization declared an outbreak as a public health emergency.

Asia markets mixed

Markets in the Asia-Pacific region were mixed as investors awaited economic data and central bank decisions. Some markets dipped, while others rose.

Bond market rally

China’s central bank aims to curb its bond market rally, raising concerns about financial stability. Analysts predict a slight increase in 10-year bond yields.