CNBC Daily Open: U.S.' 4-year economic plan, with a Trump twist?

China on Thursday concluded its "Fourth Plenum," a meeting aimed at setting out the country's development agenda for the next five years. Beijing will focus on domestic consumption, self-reliance in technology as well as the agricultural and manufacturing sectors.

In the U.S. economy and markets — generally considered the exemplar of free-market capitalism — the government's fingerprints have started becoming visible, if you squint a little.

For instance, Intel reported third-quarter revenue that surpassed analysts' expectations, helping the stock jump 7.7% in extended trading. Intel said demand for its processors appears to be recovering.

But it's hard to ignore the elephant in the room, that is, the U.S. government's 10% stake in the company, acquired in August. The company's stock has seen a massive surge since that acquisition, with President Donald Trump saying the government has made $30 billion to $40 billion on its stake. The transaction, however, complicates Intel's accounting practices for its income, the company suggested in a press release.

Trump, meanwhile, pardoned Binance founder Changpeng Zhao, the White House said Thursday. Zhao was convicted in April 2024 for enabling money laundering at Binance.

When asked why Trump pardoned Zhao, the president said, "A lot of people say that he wasn't guilty of anything. And so I gave him a pardon at the request of a lot of very good people."

The Wall Street Journal reported in August that the Trump family's crypto venture has been helped by "a partnership with an under-the-radar trading platform quietly administered by Binance."

Trump's proclivity for acquiring stakes in U.S. companies and his other dealings raise the question: are we seeing a four-year U.S. economic plan — with a twist — unfold?

Intel beats revenue expectations. Third-quarter sales came in at $13.65 billion, higher than the $13.14 billion from an LSEG consensus estimate. Intel added that demand for its chips outstripped supply.

Trump pardons Binance founder Changpeng Zhao. The move came two months after The Wall Street Journal reported on the Trump family's crypto venture, which appeared to have links with a trading platform "administered by Binance."

China to encourage consumption over the next five years. Top government leaders emphasized the need to "vigorously boost consumption" in the domestic economy, a readout of China's "Fourth Plenum" meeting said, according to a CNBC translation.

The S&P 500 claws back losses. The index rose 0.58% on Thursday, recovering from Wednesday's fall. The Stoxx Europe 600 added 0.37%, with shares of Kering popping 8.7% after the luxury conglomerate beat revenue expectations.

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