CNBC Daily Open: China posts better-than-expected economic data

Better-than-expected growth for China
China's third-quarter gross domestic product expanded by 4.6% year on year, according to the National Bureau of Statistics. Even though that's higher than the 4.5% in a Reuters poll, it trails the second-quarter's growth of 4.7%. On a quarterly basis, China's economy grew by 0.9% in the third quarter.

Chinese and U.S. retail sales going strong
China's retail sales for September grew 3.2% from a year ago, said the National Bureau of Statistics. That's better than the 2.5% estimate in an LSEG poll and August's figure of 2.1%. Across the Pacific Ocean, retail sales in the U.S. rose a seasonally adjusted 0.4% for September. It's higher than both the 0.1% gain in August and the 0.3% Dow Jones forecast.

Dow bucks the trend to rise
U.S. markets had a mixed Thursday. The Dow Jones Industrial Average added 0.37% to close at another record level. But the S&P 500 and Nasdaq Composite were mostly unchanged. Asia-Pacific markets were mixed Friday. China's Shanghai Composite rose around 1.5% on positive economic data and a suggestion by Beijing's central bank governor that it could ease monetary policy further.

An alternative deal for Altera
Intel is looking at a deal to sell its Altera unit for around $17 billion, according to people who requested anonymity to speak about the confidential matter. Just last month Intel CEO Pat Gelsinger said Altera is a core part of Intel's future. Altera manufactures a type of semiconductor that can be reprogrammed, unlike CPUs.

[PRO] Soaring small caps
Unlike big companies, small companies don't have the heft to negotiate for low-rate loans, for instance, or the cash moat to withstand fluctuations in consumer habits. Hence, as the U.S. Federal Reserve cuts interest rates, small-cap stocks tend to benefit more. And they have just hit a high not seen in three years.