stocks, UK budget, data and earnings

The three major indexes opened Wednesday’s session higher, marking a turn from the prior two down days.

The Dow was up about 0.5% shortly after 9:30 a.m. ET. The S&P 500 and Nasdaq Composite added 0.7% and 1%, respectively.

— Alex Harring

The pound was slightly higher against the dollar at the close of the U.K.’s Spring Budget announcements.

Sterling was seen trading up 0.13% against the greenback at $1.2720 by 1:40 p.m. London time. It was down 0.13% against the euro at 1.16.

— Karen Gilchrist

Shares of French reinsurance company Scor jumped 9.7% in early deals after it reported record 2023 results.

On the other end, Grifols was down 15.1% as it continues to battle weakening investor confidence after a damaging report earlier this year from hedge fund Gotham City Research.

— Karen Gilchrist

German logistics giant DHL Group on Wednesday dismissed rumors that it is looking to acquire Deutsche Bahn’s subsidiary Schenker.

CEO Tobias Meyer told CNBC that the company is open to acquisitions but noted that DB Schenker does fit its requirements.

“We have a lot of things we can invest in. We are very interested in the e-commerce space. We just didn’t see Schenker as a good fit for us,” Meyer said.

— Karen Gilchrist

Swiss skincare company Galderma on Wednesday announced that it will float on the Swiss stock exchange, in a move CEO Flemming Ørnskov described as the “next natural step” for the business.

Galderma is aiming to raise around $2.3 billion for the listing, saying it will use the funds to pay down debt and invest in innovation.

“It’s an excellent time,” Ørnskov told CNBC. “The outlook is really attractive for the company and the market.”

— Karen Gilchrist

Nvidia may have enjoyed a red-hot run on the back of the artificial intelligence craze, but many other tech stocks have also benefited.

As with any investing theme, diversification is needed.

Veteran tech investor Paul Meeks told CNBC Pro that even if Nvidia is a “great story,” it’s “too risky to be in just one” when it comes to AI.

Plus, one analyst names two startups that could be the next Nvidia.

CNBC Pro subscribers can read more here.

— Weizhen Tan

Wealth manager Brian Vendig is bullish on stocks this year, and says there are opportunities for investors outside of 2023’s headline-makers.

“We believe stocks have a chance to appreciate because earnings outlooks for this year are expansionary and we are past the slowdown in earnings that we observed for the majority of last year,” Vendig, president of MJP Wealth Advisors, wrote in notes to CNBC.

“There are many areas of the market that did not significantly participate in the returns last year — such as healthcare, industrials, materials, financials and consumer staples — and that creates opportunities for investors.”

CNBC Pro subscribers can read more here.

— Amala Balakrishner

European markets are set to open higher Wednesday.

The U.K.’s FTSE 100 index is expected to open 5 points higher at 7,648, Germany’s DAX up 29 points at 17,721, France’s CAC 8 points higher at 7,938 and Italy’s FTSE MIB up 40 points at 33,203, according to data from IG. 

Data releases include German trade data and euro zone retail sales for January. Earnings come from DHL group and Legal & General.

— Holly Ellyatt