Stocks @ Night is a daily newsletter delivered after hours, giving you a first look at tomorrow and last look at today. Sign up for free to receive it directly in your inbox. Here’s what CNBC TV’s producers were watching on Tuesday and what’s on the radar for Wednesday’s session. China is outperforming If you go index to index, China is outperforming the United States since David Tepper’s big interview on “Squawk Box” on Sept. 26, 2024, when the Appaloosa Management founder famously said about China: “Buy everything.” If you go back to President Donald Trump’s inauguration though, the spread gets bigger. CNBC decided to spend some time on the U.S. markets vs. the Chinese markets after President Xi met with many of China’s biggest business executives, something President Donald Trump has been doing since and before his inauguration one month and one day ago. Since Sept. 26, 2024, the big iShares MSCI China ETF (MCHI) is up 17%, the S & P 500 is up 7%. Since Sept. 26, the iShares China Large-Cap ETF (FXI) , which tracks big caps, is up 19.4%, the Dow Jones Industrial Average is up 6.3%. Since then, the KraneShares CSI China Internet ETF (KWEB) , China’s big tech play, is up 21.7%, while the Invesco QQQ Trust (QQQ) here in the U.S. is up 11%. The separation between China and the U.S. is more stark since Trump took office. Since inuaguration day, the MCHI is up 16.8% to a 2.2% gain for the S & P. The FXI is up 16.1% over the same period, compared with a 2.5% gain for the Dow. The KWEB is up 21.3%, compared with an increase of 3.4% for the QQQ, over the same period. Europe is hitting new highs The iShares MSCI Europe Financials ETF (EUFN) hit a new high Tuesday. It is up 11% in a month. The WisdomTree Europe Hedged Equity Fund (HEDJ) hit a high today. It is up 8.6% in a month. The iShares MSCI Eurozone ETF(EZU) hit a high today. It is up 8.9% in a month. The SPDR Euro Stoxx 50 ETF (FEZ) hit a high today. It is up 9.7% in a month. Canada on the rise “With glowing hearts we see thee rise …” The iShares MSCI Canada ETF (EWC) is up 3% so far in February despite the tariff threats. It is 2% from its Dec. 5 high. Housing in the USA The S & P Homebuilding Industry dropped 1.1% today after the National Association of Home Builders put out a “suboptimal” report as Jim Cramer might say. We’ll get more data, but this report showed homebuilders aren’t super eager to build right now due to tariffs, which could raise material prices, and other issues. Tomorrow CNBC TV’s real estate reporter Diana Olick will track two more key data points in the housing market. Housing starts and building permits come out at 8:30 a.m. ET. Then on Friday, we get existing home sales numbers. Hovnanian is 46% from its August high, and is down nearly 7% in a month. Lennar is 34% from a September high, down almost 10% in a month. Pultegroup is 29% from a 52-week high it hit back in October, and is down about 10% in a month. Toll Brothers is down 28% from a November high, and is down nearly 10% in a month. The company posted its earnings after the bell and missed expectations. Shares dropped more than 5% after hours. Taylor Morrison is down 16.5% from its November high, and is down 4% in a month. Masco , which makes homebuilding products, is down 11% from its October high, and down just 1% over the past month. TOL 6M mountain Toll Brothers shares over the past six months. Energy’s strong showing This sector was today’s outperformer. We’ll keep on the sector after it picked up 1.37% today. It is now up 5.53% in 2025, making it the fourth best performer (out of 11). If you look at the last year, it is only up 6.4%, making it the second worst sector. The S & P is up 22.5% over that time period. Top performers so far this year are: Texas Pacific Land , up 28%; Targa , up 17%; and EQT , up 17%. The weakest stocks in the sector so far this year are Diamondback Energy , which is down 4%; Kinder Morgan , down more than 2%; and ONEOK , down almost 2%. TPL 1Y mountain Texas Pacific Land over the past year.
