Squawk Box Europe Express

Chinese GDP in the third quarter beats expectations growing 4.9%, raising hopes that Beijing can still manage to attain its full year growth target. In the U.S., the 2-year Treasury yield hits a 17-year high on better-than-expected consumer numbers. However, BofA CEO Brian Moynihan tells our colleagues stateside that he believes consumer activity is still being hampered by high interest rates. Hun...

U.S. President Joe Biden confirms he will visit Israel on Wednesday while Secretary of State Antony Blinken has stressed the need for aid to reach the Gaza Strip where the humanitarian crisis is worsening. Optimism over corporate earnings help push the Dow to its best session for a month ahead of earnings from Goldman Sachs and BofA later today. Chinese property giant Country Garden could default...

President Biden warns the Israel-Hamas war could escalate into a wider regional conflict and cautions Jerusalem against re-occupying the Gaza Strip. The S&P 500 posts its second week in the green while geo-political tensions sees Brent move back up past $90 per barrel. Kicking off Q3 earnings season, U.S. banking giants JP Morgan, Citi and Wells Fargo all beat on top and bottom lines. Asset ma...

U.S. markets end a four-day streak in the green, dragging Asian equities lower as a result as stronger-than-expected inflation re-ignites concerns that rates will remain elevated for longer. Debt distress was a focus at the IMF/World Bank Meetings in Marrakech yesterday. World Bank President Ajay Banga tells a CNBC panel that trying to predict interest rates is ‘soothsaying, future-telling’. Septe...

September’s FOMC minutes show officials grappling with volatility which highlights uncertainty for the U.S. economy. We hear from Bundesbank president Joachim Nagel who insists Germany is not the ‘sick man of Europe’, making a sharp distinction between its current economic situation and the early 2000s. All three U.S. indices post their fourth straight day of gains ahead of today’s crucial inflati...

Asian markets hit a two-week high on the back of the largest drop by the U.S. 10-year Treasury yield since mid-July. We are live at the IMF meetings in Marrakech where ECB Governing Council board member Robert Holzmann tells us that any additional economic shocks could prompt one or two more interest rate increases. Israeli armed forces are launching a ground offensive into the Gaza Strip with the...

Global equities stage a turnaround as investors brush off concerns in the Middle East, while U.S. bond yields slide after dovish Fed comments fuel speculation the tightening cycle is close to done. Meanwhile, Hamas threatens to kill hostages as Israel orders a complete siege of the Gaza Strip, with Prime Minister Benjamin Netanyahu vowing the campaign is “just getting started”. International conde...

Hundreds of people are killed as militant group Hamas launches a surprise attack on Israel - in the deadliest day of violence in the country for 50 years. Oil prices jump, but in an exclusive interview Saudi Arabia's Energy Minister tells CNBC that OPEC's ability to stabilise prices should not be underestimated. U.S. job growth smashes expectations in September, nearly doubling forecasts - pushing...

IMF Managing Director Kristalina Georgieva says the global economy is holding up, ahead of next week's Annual Meetings – while calling for structural reforms in Germany. On Wall Street, attention turns to September’s non-farm payrolls report, with analysts expecting 170k new jobs to have been created – slightly lower on the month. EU leaders gather in Granada, pledging more support for Ukraine. Eu...

The sell-off in global bonds takes a breather after a U.S. private sector jobs report sees its slowest pace of growth since January 2021. Crude prices stabilise after their biggest one-day drop in more than a year, as demand concerns weigh, and Saudi Arabia and Russia extend voluntary production cuts. Republican hopefuls jockey for position in the race to replace House Speaker Kevin McCarthy. Germ...

The Dow turns negative for the year as hot jobs data fuels speculation the Fed will keep rates higher for longer, while the 10-year yield hits its highest level since August 2007. Negative sentiment spills into Asia, sending major equity markets into the red with Japan's Nikkei dropping to a 4-month low. U.S. House Speaker Kevin McCarthy is ousted, putting the gavel up for grabs as he becomes the...

Asia equities are at a 10-month low as the new quarter begins while in the U.S. the Russell 2K turns negative for the year. Crude prices also remain negative, touching on a 3-week low. We are live at ADIPEC in Abu Dhabi where the CEOs of some of the world’s largest IOCs talk to us about the difficulty of maintaining price security while also keeping the pace of the energy transition. Trading in Ch...

The U.S. government narrowly avoids a shutdown after both the House and Senate agree on a short-term funding deal. President Biden has blamed ‘MAGA extremists’ for the brinkmanship. In oil news, crude prices end Q3 almost 30 per cent higher as Saudi Arabia and Russia are set to keep supplies tight until the end of the year. We are live at the ADIPEC summit in Abu Dhabi where we will be speaking to...

U.S. equities plunge in September as Fed rate concerns prompt a global sell-off. Speaking at CNBC’s Delivering Alpha conference, billionaire hedge fund manager Bill Ackman says he would not be surprised to see Treasury yields hit 5 per cent and beyond. We also hear from Altimeter Capital chairman and CEO Brad Gerstner who predicts that A.I. may even have a bigger impact than the internet in the 19...

Soaring yields pushes U.S. stocks to their worst month of the year so far. The 10-year Treasury yield hovers at its highest level since 2007. However, Bank of America CEO Brian Moynihan tells our colleagues Stateside that a soft landing is still possible. SEC Chair Gary Gensler has warned that Congress’s inability to secure a budget deal could have serious repercussions for stock and bond markets....

The Dow plunges by almost 400 points to post its worst session since March. The U.S. 10-year Treasury hovers at its highest level since 2007. The U.S. competition watchdog, the FTC, launches an unprecedented probe into e-commerce giant Amazon, accusing it of inflating prices, hobbling competition and exploiting vendors. In Washington, a government shutdown looms as a bipartisan funding bill is put...

Wall Street breaks a four-day losing streak, this despite the U.S. Treasury yield breaching a high from 2007. We hear from Chicago Fed President Austan Goolsbee who says the central bank is on the right track to reining in inflation. Ratings agency Moody’s says that another U.S. government shutdown could risk its AAA sovereign rating as federal funding discussions continue to drag on. Chinese prop...

On Wall Street the S&P 500 and the Nasdaq suffer their worst week since March as a trio of Fed officials doubled down on ‘higher for longer’ rate hike cycle signals. Chinese property giant Evergrande sees shares plunge after it announced it was unable to issue new debt due to an investigation into one of its subsidiaries. There has been a breakthrough in Hollywood between the writers’ union an...

Wall Street is having its worst week since March posting a third consecutive day in the red with the 10-year Treasury yield stalled at levels not seen since 2007. The BoJ maintains its ultra-low interest rate causing the yen to fall. This as inflation data comes in above target for the 17th month in a row. Sterling also plunges to a six-month low after the Bank of England governor Andrew Bailey ca...

The U.S. Federal Reserve has paused its rate-hiking cycle, predicting one more hike later this year and fewer cuts than expected next year. Fed Chair Jerome Powell’s hawkish forecast pushes Treasuries to new multi-year records while U.S. equities close in the red. We hear from Klaviyo CEO Andrew Bialecki who hailed the timing of his company’s IPO. Shares were up 9 per cent on the debut. And in the...

The U.S. 10-year Treasury yield hits its highest level since 2007, putting pressure on stocks around the world ahead of today’s Fed rate decision. Rising rates across the world have pushed debt to a fresh record high of more than $300tn. Online grocery delivery firm Instacart debuts on the Nasdaq with shares closing up 12 per cent. CEO Fidji Simo tells our colleagues Stateside that post-pandemic g...

Asian stocks are mixed following a rocky Wall Street session ahead of Wednesday’s Fed rate decision. U.S. Treasury Secretary Janet Yellen tells CNBC that she expects the economy to experience some delayed monetary policy impact. Online grocery firm Instacart prices its shares at the top of its range, valuing them at almost $10bn. In Detroit, the UAW threatens more strikes, urging the Big Three aut...

Wall Street ends a rocky week in the red ahead of Wednesday’s Fed decision. Washington and Beijing hold “candid, substantive and constructive” discussions about trade in a bid to ease tensions between the two countries. The IMF urges China to increase domestic consumption. Online grocery delivery firm Instacart is increasing its prospective IPO price range to $10bn in the wake of Arm’s blockbuster...

Arm shares pop 25% in its debut session, giving the chip designer a market cap of $68 bn, with the CEOs of Arm and Softbank telling CNBC exclusively the group is here to stay. The blockbuster IPO boosts sentiment on Wall Street with the Dow rallying over 300 points – its best day since early August. Elsewhere Beijing steps up with more stimulus - cutting the RRR for the second time this year, as k...

Arm prices its blockbuster IPO at $51 per share, giving the chip designer a valuation of over $54 bn, with the stock set to debut on Wall Street today. US inflation rises by the most of any month this year while core prices also come in hotter than expected, pushing the Dow to its second straight negative session. It's a close call for the ECB - the central bank weighs up a potential hik...