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European markets. Here are the opening calls

European markets are expected to open higher on Friday.

Britain’s FTSE 100 is up about 33 points at 7,456, Germany’s DAX is set to jump about 33 points to 14,019, and France’s CAC 40 is expected to rise about 18 points to 6,533. of Italy MIB: the index is expected to increase by 32 points to 23,787.

— Hannah Ward-Glanton

CNBC Pro. Morgan Stanley doubles down on Big Tech stock and says it could raise up to 65% more

Big tech stocks have been hit hard by this year’s selloff, but Morgan Stanley believes the current share price weakness is “an opportunity to own one of the highest-quality technology platforms.”

Pro subscribers can read more here.

— Zavier Ong

UBS upgrades China’s 2023 growth outlook and lowers 2022 forecast

UBS raised its forecast for China’s 2023 gross domestic product to 4.9% from 4.5% previously, according to its chief China economist Wang Tao, citing the country’s earlier and faster reopening.

Wang said the firm expected a weaker fourth-quarter GDP figure for 2022, cutting its full-year forecast to 2.7% from 3.1%, pointing to weaker growth in November with the latest surge in Covid cases.

The firm added that the Central Economic Working Conference is likely to prioritize stabilizing growth as well as supportive macro policies for the coming year.

“We expect fiscal policy to remain accommodative, with a small increase in the core deficit and a new special LG [local government] bonds, monetary and credit policy with continued high liquidity but unlikely to taper any additional policy,” Wang said in a note.

– Jihe Lee

Stock futures open lower

Stock futures opened lower as investors exited a second day of selling.

Dow futures lost 40 points, or 0.1%.

S&P 500 and Nasdaq 100 futures were both down 0.1%.

– Alex Haring

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