Squawk Box Europe Express

SQUAWK BOX, MONDAY 15TH APRIL, 2024

Israel is mulling its options after Iran’s first ever attack on Israeli territory over the weekend, using more than 300 missiles and drones. G-7 nations and the UN Security Council condemn the attack, seeking to diffuse tensions and avert any regional escalation. German Chancellor Olaf Scholz lands in Chongqing, China with a delegation of CEOs looking to shore up economic relations with Berlin’s biggest trading partner. Samsung overtakes Apple to become the largest smart phone maker...

SQUAWK BOX, FRIDAY 12TH APRIL, 2024

U.S. producer prices come in soft, rising just 0.2 per cent and alleviate some jitters about persistent inflation. The Nasdaq posts a new fresh high with Apple leading the way. The iPhone maker enjoys its best day in nearly a year while Amazon hits a new record high. Shares at Morgan Stanley plunge after reports that the bank’s wealth management arm is under investigation by multiple regulators. German industrial titan ThyssenKrupp warns it may cut steel production by up to 20 per c...

SQUAWK BOX, THURSDAY 11TH APRIL, 2024

U.S. equities sell off and futures dip as traders scale back expectations for a June rate cut on the back of hotter-than-expected inflation - now eyeing a first move in September. Chinese deflationary pressures point to the potential for more government stimulus, as CPI cools more than expected, and producer prices slide. The Swiss government strengthens its rules for the country's banking sector as it looks to prevent another collapse of banks that are “too big to fail”. And, the E...

SQUAWK BOX, WEDNESDAY 10TH APRIL, 2024

Fitch downgrades its outlook on China to negative from stable, citing increasing risks to the country's public finances. Global equities oscillate as investors brace for today's key U.S. inflation print, looking for clues on the Fed's next move. The FAA also launches an investigation into Boeing's whistleblower claims, piling more pressure on the plane maker as jet deliveries more than halve. And, Accor CEO Sébastien Bazin tells CNBC the Paris Olympics is an opportunity for France t...

SQUAWK BOX, TUESDAY 9TH APRIL, 2024

US Treasury yields hit four-month highs as traders look ahead to Wednesday’s inflation print, while JP Morgan CEO Jamie Dimon warns inflation may prove more stubborn than expected. A subsidy war is also heating up as the White House awards chip giant TSMC over $6 billion in grants, with Samsung reportedly set to get a similar deal. Meanwhile, Ether prices post their biggest jump in more than a month over speculation the cryptocurrency could see ETF applications approved soon. And, p...

SQUAWK BOX, MONDAY 8TH APRIL, 2024

The US jobs report beats expectations, sending equities higher and tempering expectations the Fed will start easing in June. Meanwhile, the UBS CEO Sergio Ermotti calls on Europe to create more competitive banks, telling CNBC at the Ambrosetti Forum the integration of Credit Suisse is a case study for the continent. US Treasury Secretary Janet Yellen threads the diplomatic needle as she urges China to rein in excess capacity, but China's commerce minister pushes back at accusations ...

SQUAWK BOX, FRIDAY 5TH APRIL, 2024

The Dow sees its worst day in over a year and eyes its worst week in more than a year, as Minneapolis Fed President Neel Kashkari raises the possibility of no rate cuts this year. The U.S. jobs report comes into view with markets expecting payroll growth to slide to 200,000 in March. President Biden warns Israel's leader that America's continued support for its war with Hamas depends on the treatment of civilians in Gaza, calling the humanitarian situation "unacceptable". Elsewhere ...

SQUAWK BOX, THURSDAY 4TH APRIL, 2024

In the U.S., ADP data comes in hot but the service sector sees input prices fall to a four-year low. Federal Reserve Chairman Jerome Powell says it is still too early to predict the path of inflation. Disney CEO Bob Iger fends off his boardroom challenge from activist investor Nelson Peltz, ending the multi-million dollar proxy giant. We hear from CEO of French dairy giant Danone Antoine Saint-Affrique who hails the company’s official partnership with the Paris Olympics as well as i...

SQUAWK BOX, WEDNESDAY 3RD APRIL, 2024

U.S. Treasury yields maintain a near fourth-month high while the S&P 500 suffers its worst session since early March as inflation fears persist. San Francisco Fed Chair Mary Daly says rate cuts this year are a ‘projection not a promise’. Taiwan is hit by a magnitude 7.4 earthquake, killing at least four and injuring dozens more in the eastern city of Hualien. Disney has reportedly secured enough votes to defeat activist investor Nelson Peltz’s challenge to its board. The results wil...

SQUAWK BOX, TUESDAY 2ND APRIL, 2024

U.S. Treasury yields rise following better-than expected manufacturing data with odds of a June rate cut slightly slipping. In the UK shop price inflation falls below 2 per cent for the first time in two years, according to the British Retail Consortium. Iran accuses Israel of bombing its consulate in Syria with several senior Revolutionary Guard commanders killed. Tehran has vowed a “harsh” response. In Asia, Xiaomi shares are up boosting the Hang Seng after the tech giant enters t...

SQUAWK BOX, THURSDAY 28TH MARCH, 2024

Wall Street hits another record high ahead of crucial inflation data. But Federal Reserve Governor Christopher Waller says he still requires several more months of data to gather the confidence to move to cut interest rates. UBS takes a hit of more than $1bn to its 2023 net profit after cutting the negative goodwill from its rescue of Credit Suisse. The lender now admits it may not be able to realise all its expected gains. Outgoing Dutch Prime Minister Mark Rutte has sought to calm...

SQUAWK BOX, WEDNESDAY 27TH MARCH, 2024

Chinese President Xi Jinping meets with Western executives in Beijing as his country increases efforts to attract FDI at the Bo’ao Forum on Hainan island. However, China also takes up a dispute with the U.S. at the WTO, claiming its EV sector is discriminated against, despite BYD having overtaken Tesla in sales. The yen falls to a 34-year low against the greenback, prompting Japan’s finance minister to warn the government could take ‘decisive steps’ once more to stem the currency’s ...

SQUAWK BOX, TUESDAY 26TH MARCH, 2024

Boeing CEO Dave Calhoun is to step down at the end of the year as the plane maker scrambles to repair its safety reputation. This week’s upcoming U.S. inflation print pushes Wall Street lower after Fed officials unite to dampen expectations of an early rate cut. The UNSC passes a vote calling for an immediate ceasefire in Gaza and the release of all Israeli hostages with the U.S. notably abstaining. In tech news, Brussels begins its first investigation under the Digital Markets Act,...

SQUAWK BOX, MONDAY 25TH MARCH, 2024

The Dow and the S&P 500 record their best week of the year so far as investors applaud signs that major central banks are on track to begin slashing interest rates. Russia observes a day of mourning and four suspects are charged following Friday’s Moscow concert hall massacre and fire. At least 137 are now known to have been killed. IMF Managing Director Kristalina Georgieva says the Chinese economy is facing ‘a fork in the road’ as policy makers and CEOs attend Beijing’s premiere b...

SQUAWK BOX, FRIDAY 22ND MARCH, 2024

Wall Street hits record highs thanks to strong tech stocks but the rally fails to materialise elsewhere with the Hang Seng leading declines in Asia. Shares in social media company Reddit rise almost 50 per cent following its NYSE listing, giving it a market cap of almost $10bn. Airbus snags orders for 65 planes from two of Boeing’s key Asian clients but the plane maker’s CFO Thomas Toepfer tells CNBC he hopes the rival’s safety issues are resolved soon. Apple shares are down 4 per c...

SQUAWK BOX, THURSDAY 21ST MARCH, 2024

The U.S. Federal Reserve holds interest rates steady, as expected, and signals plans for multiple cuts before the end of the year. Wall Street rallies to new records, while the positive sentiment extends into Asia and the Nikkei notches its own high. Meanwhile the U.S. Department of Justice reportedly plans to sue Apple as soon as today, accusing it of blocking rivals from accessing iPhone hardware and software - just days after the EU issues its own antitrust fine. And, Reddit pric...

SQUAWK BOX, WEDNESDAY 20TH MARCH, 2024

There's a fresh record for the S&P 500, while the Dow sees its best day in almost a month, as Wall Street counts down to the all-important Fed decision and an updated dot plot. U.S. Defense Secretary Lloyd Austin warns Ukraine's survival is in danger amid a funding impasse in Congress, as Poland's foreign minister calls on America to act. Elsewhere, Kering issues a profit warning, with the luxury giant saying an almost 20 percent plunge in Gucci sales will drag on group revenues. An...

SQUAWK BOX, TUESDAY 19TH MARCH, 2024

An historic shift from the Bank of Japan - ending the world's last negative rates regime with its first hike in 17 years, while also abolishing its yield curve control policy. The Yen extends declines, hitting 150 against the dollar, while the Nikkei edges higher as investors embrace a new era for Japanese central bank policy. Polish President Andrzej Duda calls on NATO allies to ramp up defence spending, telling CNBC exclusively there is limited time to prepare for another potentia...

SQUAWK BOX, MONDAY 18TH MARCH, 2024

SQUAWK BOX, FRIDAY 15TH MARCH, 2024

U.S. producer prices have come in higher than predicted causing minor declines on Wall Street with Treasury yields pushing up too. The ECB chief economist Philip Lane tells CNBC that the central bank should take its time in deciding on rate cuts and earmarks June as a potential live meeting. Germany’s largest real estate company Vonovia posts a record full-year loss of €7bn with the CEO describing the fall in valuations as “the worst we have ever seen”. Former U.S. Treasury Secretar...

SQUAWK BOX, THURSDAY 14TH MARCH, 2024

The S&P 500 record run in the green stalls after Apple and Nvidia post 1 per cent declines. Tesla faces numerous valuation cuts with Wells Fargo calling the EV maker “a growth company with no growth”. Share have tumbled more than 4 per cent. We hear from HSBC Group CFO, Georges Elhedery, who predicts a U.S. soft-landing in H2 and says a lower rate environment will not have an impact on his company’s revenue guidance. The ECB outlines plans to incentivise inter-bank lending and to re...

SQUAWK BOX, WEDNESDAY 13TH MARCH, 2024

Inflation in the U.S. unexpectedly ticks higher in February, potentially lengthening the Fed’s path back to lower rates. However, U.S. and European equities hit new highs as investors stick with their June Fed rate cut predictions. In politics, President Joe Biden and former President Donald Trump have both won enough primary delegates to become their parties’ presumptive nominees in November’s presidential election, according to NBC News. In Japan, major companies commit to fully m...

SQUAWK BOX, TUESDAY 12TH MARCH, 2024

Former U.S. President slams both China and the EU, telling our colleagues Stateside that America is being taken advantage of economically. JPMorgan boss Jamie Dimon urges the Federal Reserve to act cautiously on rate cuts, arguing that a U.S. recession is still a possibility as President Biden unveils his budget for 2025, which proposes higher taxes, spending and debt. BoJ governor Kazuo Ueda has dampened optimism about the state of the Japanese economy ahead of a key meeting which ...

SQUAWK BOX, MONDAY 11TH MARCH, 2024

The Nikkei tumbles, posting its worst day in the more than a year on speculation the BoJ will finally raise rates, helping the yen while hurting exports. In China, sticker prices rise for the first time since lates summer but manufacturing price deflation continues to drag. New Delhi agrees to signs a $100bn free trade deal with the European EFTA bloc, ahead of a spring general election. And in energy news, Saudi Aramco sees FY profit fall by up to 25 per cent but its still manages ...

SQUAWK BOX, FRIDAY 8TH MARCH, 2024

There’s a new record high for the S&P 500 index – its 16th this year. In a testimony to the Senate, U.S. Federal Reserve Chairman Jerome Powell said the central bank was gaining the confidence it needs to cut rates. In Frankfurt, the ECB keeps rates on hold but signals a mid-year cut with President Christine Lagarde calling for more data by June. President Biden lashes out at former President Donald Trump during his third State of the Union address. Biden called on Congress to stand...

SQUAWK BOX, THURSDAY 7TH MARCH, 2024

U.S. Federal Reserve Chairman Jerome Powell reiterates to the House Financial Services Committee that the central bank is not yet ready to begin slashing interest rates. Powell said he required more data to be confident inflation would continue falling before dialling back on restrictive policy. Chinese trade numbers beat expectations for the first two months of 2024. Foreign Minster Wang Yi has hit out at ‘lengthening’ U.S. economic restrictions on his country. In Frankfurt, the EC...

SQUAWK BOX, WEDNSDAY 6TH MARCH, 2024

Former U.S. President Donald Trump dominates the GOP Super Tuesday races. NBC News projects he has won almost all of the 15 states voting in the primary contest. Wall Street stumbles for a second straight day with tech stocks weighing. The Dow is down ahead of Federal reserve Chairman Jerome Powell’s testimony on Capitol Hill. We are live in Westminster ahead of Chancellor Jeremy Hunt’s UK budget later today. Personal tax cuts set to top the agenda. And in IPO news, Swiss-American d...

SQUAWK BOX, TUESDAY 5TH MARCH, 2024

We are live in Beijing at China’s annual parliamentary session where the country has set a growth target of ‘around 5 per cent’ for 2024. Premier Li Qiang has sought to diffuse economic tensions but warned of a tricky path ahead. Tesla sees Chinese sales fall to the their lowest level since December 2022, with increased domestic competition as well as a slowdown in demand weighing on the EV maker. Brussels has slapped Apple with a €1.8bn fine for alleged abuse of its market position...

SQUAWK BOX, MONDAY 4TH MARCH, 2024

China hosts its annual legislative sessions with an aim to deepening economic reform. Beijing is grappling with the four issues of deflation, demographics, debt and de-risking. In Japan, the Nikkei 225 hits the 40,000-point level for the first time on the back of strong tech stock performance. Stateside, the Nasdaq, Dow and S&P 500 also hit fresh highs. Hamas delegates are in Egypt hoping to negotiate a Ramadan truce in Gaza. U.S. Vice-President Kamala Harris calls out Israel over t...

SQUAWK BOX, FRIDAY 1ST MARCH, 2024

The recent optimism around A.I. helps push the Nasdaq to its first record high in more than 2 years. The Dow and S&P 500 also mark their best start to the year since 2019. Consumer prices Stateside are their slowest rate of increase in six years, raising hopes of a June rate cut. In banking news, shares of NY Community Bancorp plunge by 20 per cent in extended trade on the news that the lender has removed its CEO due to internal control matters. Chinese manufacturing activity is dow...

SQUAWK BOX, THURSDAY 29TH FEBRAURY, 2024

U.S. markets are set to notch their fourth monthly gain but investors turn wary on tech stocks ahead of today’s inflation data. There is a tentative deal on Capitol Hill as lawmakers scramble to avert a government shutdown. Long-serving Senate Republican leader Mitch McConnell has announced he will be stepping down from his position after the U.S. election this November. Chinese equities rebound sharply despite recent volatility with the Shanghai Composite is now on track for its be...

SQUAWK BOX, WEDNESDAY 28TH FEBRAURY, 2024

Global markets toe the line ahead of key inflation data coming out of the U.S. The recent troubles experienced by Boeing have sent U.S. durable goods orders to their steepest monthly fall since April 2020. In U.S. politics, President Biden wins the Democratic primary in Michigan while former President Donald Trump easily notches his fifth state victory ahead of Super Tuesday. Following President Macron’s comments about potential NATO boots on the ground in Ukraine, Western leaders p...

SQUAWK BOX, TUESDAY 27TH FEBRAURY, 2024

SQUAWK BOX, TUESDAY 27TH FEBRAURY, 2024

SQUAWK BOX, MONDAY 26TH FEBRAURY, 2024

We are live at the Mobile World Congress in Barcelona where A.I. is dominating the agenda. Deutsche Telekom CEO Tim Höttges tells CNBC that Europe is lagging in the digital world. Berkshire Hathaway posts a record 28 per cent jump in Q4 earnings bringing the company’s cash pile to $167bn but CEO Warren Buffett warns that a repeat performance in coming years is not guaranteed. Donald Trump comfortably defeats Nikki Haley in the GOP primary in her home state of South Carolina to cemen...

SQUAWK BOX, FRIDAY 23RD FEBRUARY, 2024

Chip maker Nvidia adds $277bn to its market cap in one session, smashing the previous added value record high and prompting stock market highs across three continents. Asia-focused bank Standard Chartered posts an 18 per cent surge in FY pre-tax profit. It is due to offer a $1bn share buy-back and a large increase to its dividend. Reddit may list in New York in the next few weeks, becoming Wall Street’s first social media IPO since Pinterest in 2019. And the U.S. government is prepa...

SQUAWK BOX, THURSDAY 22ND FEBRUARY, 2024

Nvidia shares pop in after-hours trade after the chip giant posted a 265 per cent surge in Q4 revenue. CEO Jensen Huang tells CNBC that conditions are ideal to grow the company. As a result the chip sector rallies, pushing Japan’s Nikkei to levels not seen since 1989. The Fed urges caution in cutting rates too early. BofA CEO Brian Moynihan says the central bank should not repeat mistakes of the past. And in autos news, Mercedes-Benz is to launch a share buy-back worth $3bn ahead of...

SQUAWK BOX, WEDNESDAY 21ST FEBRUARY, 2024

HSBC shares dip in Hong Kong despite the lender posting a record FY profit. The result was marred by a write-down on its share of Chinese bank BOCOM. HSBC CEO Noel Quinn tells CNBC he is still upbeat on the country’s economy. Chinese indices claw back earlier losses after the market regulator said it would increase supervision while the Shanghai and Shenzhen bourses crack down on a key quant fund. Wall Street suffers a second day of losses after chip giant Nvidia records its worst s...

SQUAWK BOX, TUESDAY 20TH FEBRUARY, 2024

The PBOC makes its biggest ever cut to the country’s benchmark mortgage rate as authorities look to shore up the beleaguered Chinese property sector. In banking news, Capital One strikes a $35bn deal to snap up credit card issuer Discover Financial – the largest acquisition so far this year. German industrial giant Bayer slashes its dividend by 95 per cent to the lowest legal level in a bid to drastically cut costs and alleviate its debt situation. The world largest listed mining co...

SQUAWK BOX, MONDAY 19TH FEBRUARY, 2024

We are live at the Munich Security Conference where the death of Alexei Navalny on Friday and dwindling Ukrainian military supplies against Russia have dominated discussions over the weekend. We hear from NATO Secretary General Jens Stoltenberg who says he does not believe a potential Trump administration would abandon the alliance. Russian forces re-take the eastern Ukrainian city of Avdiivka – its first major victory in 9 months. Ukrainian President Volodomyr Zelenskyy says his co...

SQUAWK BOX, FRIDAY 16TH FEBRUARY, 2024

The S&P 500 achieves a fresh record high for the eleventh time this year – this as U.S. consumer spending in January falls more than expected in what could be an early warning sign for the American economy. In Japan, the Nikkei moves close to levels not seen since 1989. Crypto exchange Coinbase sees shares surge more than 14 per cent in extended trade. CFO Alesia Haas told our colleagues Stateside that Bitcoin ETFs are behind the company’s first quarterly profit in 2 years. And we a...

SQUAWK BOX, THURSDAY 15TH FEBRUARY, 2024

Renault enjoys a FY operating margin on revenue of more than €50bn and is set to hike its dividend. French aviation giant Airbus sees full-year results surging on the back of a record orderbook and is also due to propose a special dividend payout. On Wall Street, the S&P 500 is back up at the 5,000-point mark as chip maker Nvidia briefly overtook Alphabet on market cap value. Meanwhile Berkshire Hathaway pares back its Apple stock and ramps up investment in Chevron. The company has ...

SQUAWK BOX, WEDNESDAY 14TH FEBRUARY, 2024

U.S. inflation for January disappointed, coming in at more than 3 per cent on an annual basis dashing any hopes of an imminent Federal Reserve rate cut. The markets reacted with the Dow posting its worst session since last March and Treasury yields spiked. DoubleLine CEO Jeffrey Gundlach told our colleagues Stateside that markets had vastly overestimated this year’s rate path. Ride-hailing app Lyft sees shares soar by 60 per cent in extended trade but then paring back sharply after ...

SQUAWK BOX, TUESDAY 13TH FEBRUARY, 2024

The Dow hits a new record ahead of today’s inflation report Stateside. The CPI growth has been seen below 3 per cent, which would be a first in three years. The CEO of Abu Dhabi’s SWF Mubadala, Khaldoon Al Mubarak, tells CNBC that the U.S. remains an attractive investment destination. ARM shares are up by almost 30 per cent, extending the post-earnings rally, which boosts one of its primary stakeholders Softbank in Japan. We also hear from Aston Martin Lagonda chairman Lawrence Stro...

SQUAWK BOX, MONDAY 12TH FEBRAURY, 2024

Wall Street posts its fifth-straight week in the green with the S&P 500 breaching the 5,000-point mark for the first time. We hear exclusively from IMF managing director Kristalina Georgieva who warns about the need for China to introduce economic reforms and stabilise its property sector. NATO leaders baulk at comments made by former President Donald Trump saying he would not support allies who did not honour defence spending commitments in the face of an attack by Russia. Italian ...

SQUAWK BOX, FRIDAY 9TH FEBRUARY, 2024

The S&P 500 posts its ninth record session this year, briefly breaching the 5,000-point milestone. Similarly in Asia, the Nikkei hits 37k for the first time in 34 years before pulling back while Hong Kong equities are in the red at the start of the Lunar New Year. Disappointing sales for L’Oréal as northern Asian markets slump, with the French cosmetics posting a miss on sales and profits. In the U.S., President Biden dodges a Special Counsel report about his handling of classified ...

SQUAWK BOX, THURSDAY 8TH FEBRUARY, 2024

German engineering giant Siemens posts a 56 per cent rise in Q net income and boasts an order book of more than €22bn. CEO Roland Busch says the China market remains a concern. Shares in chip maker ARM are up 40 per cent in after-hours trade after the firm hiked guidance on strong A.I. demand. ARM’s major shareholder Softbank also posts a $16bn gain in earnings. Disney hikes its forecast and announces its foray into gaming, investing $1.2bn in Fortnite maker Epic Games. In China, pr...

SQUAWK BOX, WEDNESDAY 7TH FEBRUARY, 2024

Moody’s cuts its rating on New York Community Bankcorp to junk status, causing its shares to nose-dive to their lowest level since 1997. However, the U.S. regional lender remains adamant, saying ‘ample’ liquidity of more than $37bn. Snap shares fall by more than 30 per cent in extended trade after missing earnings expectations in the fourth quarter. The company says that the Middle East turmoil is creating headwinds. Siemens Energy confirms its outlook after posting a 24 per cent ju...

SQUAWK BOX, TUESDAY 6TH FEBRUARY, 2024

UBS posts a better-than-expected Q4 net loss of $279m. U.S. markets are in the red as the 2-years Treasury yield reaches a one-month high as strong services numbers pushes back expectations of an early Fed rate cut. In China, authorities move to mitigate a slump in the stock market helping both the Hong Kong and Shenzhen indices up. In pharma news, Novartis buys up cancer treatment firm MorphoSys while Novo Nordisk snaps up a key manufacturing sub-contractor for its obesity drug WeG...

SQUAWK BOX, MONDAY 5TH FEBRUARY, 2024

Money markets temper expectations for a March cut after Fed Chair Jerome Powell warns of moving too fast too soon - saying he wants to see more data to confirm that inflation is headed down to 2%. U.S. yields jump following a stellar payrolls report, as hiring hits 353,000 in January - nearly twice the forecast. The wild ride in Chinese stocks stretches into a new week, with the Shanghai Composite hitting a fresh 52-week low despite efforts from regulators to calm the situation. And...