Squawk Box Europe Express

Apple shares dip following cautious guidance ahead of Christmas. The company also reveals little about demand for its new iPhone 16. Amazon posts a beat on quarterly earnings causing shares to pop in extended trade. The e-commerce giant’s CEO Andy Jassy pledges to significantly ramp up spending on the company’s A.I. technologies. On Wall Street the S&P 500 and the Nasdaq suffer their worst day...

Microsoft enjoys an A.I. boom but there are concerns over capex and a slowing cloud division which pulls the share price lower in extended trade. Meta posts a top and bottom line beat but shares also fall in after-hours trade as investors remain anxious over greater A.I. infrastructure expenditure at the social media giant. BNP Paribas notches a near-six per cent quarterly rise in net income and c...

UBS posts $1.4bn in Q3 net profit as the lender accelerated the integration of former rival Credit Suisse. Standard Chartered almost doubles its quarterly pre-tax profit which prompts the London-based bank to hike guidance and pledges to lift its dividend payout. Meanwhile in the U.S., Alphabet’s cloud arm delivers stellar results which help push the company’s annual revenues up by 15 pe...

Novartis posts Q3 earnings with 10 per cent sales growth and 20 per cent core income growth. The drug maker has also hiked its FY guidance. HSBC sees Q3 profits jump by 10 per cent. The lender has also launched a $3bn buyback scheme on the back of slower-than-expected rate cuts. Wall Street begins the week in the green ahead of key inflation data and earnings from the tech sector. In autos news, V...

The ruling LDP in Japan loses its parliamentary majority in its worst defeat more than a decade. The yen slumps to a three-month low as a result. We hear from German finance minister Christian Lindner at the IMF annual meeting in Washington who says Europe must be prepared for a second Trump administration. Moody’s cuts its forecast for France to negative for worse-than-expected fiscal deteriorati...

Tesla shares rocket by 21.9 percent – the company’s largest one-day gain in more than a decade – as U.S. markets hope to avoid their first negative week in six. The IMF warns that the growth gap between the EU and U.S. will only widen further. We hear from ECB board member and governor of the National Bank of Belgium, Pierre Wunsch, who says he would consider a 50 basis point rate cut should data...

Tesla share surge in extended trade after the EV maker posted a better-than-expected earnings beat in Q3. CEO Elon Musk says the company’s sales targets of 20-30 per cent are achievable next year. The U.S. Treasury yield hits a three-month high and the dollar rallies as jitters over fiscal spending and the U.S. election surface. IMF First Deputy MD Gita Gopinath tells CNBC the macro environment is...

The IMF hikes its U.S. forecast for 2024 but Germany weighs on the European outlook. The IMF’s Director of the Monetary and Capital Markets department, Tobias Adrian tells CNBC there are reasons for optimism. The S&P 500 suffers its first back-to-back session loss since September as investor attention turns to the dollar. Markets are now increasingly pricing in the outcome of a Trump victory i...

A late rally from Big Tech stocks pushes the Nasdaq to the brink of a fresh record high as earnings season begins in earnest. German computing giant SAP hikes its FY guidance following a top and bottom-line Q3 beat on the back of strong cloud revenues. Maersk raises its FY outlook for the fourth time this year. In autos news, monthly new car sales decline as demand for plug-in hybrid wanes, droppi...

The PBOC cuts its benchmark lending rate to provide more support for the economy. The Shenzhen Composite moves higher as a result. In the U.S., Wall Street posts its longest streak of weekly gains so far this year on the back of lower rates and earnings optimism. Fitch confirms Italy’s credit rating and boosts its outlook to ‘positive’ in a sign the euro zone’s third largest economy is on the righ...

Asian markets remain sanguine on China’s slowest GDP growth in more than a year as the PBOC’s raft of stimulus measures kick in. Bridgewater Associates founder Ray Dalio tells our colleagues in Singapore that the central bank’s support needs to be more focused. We hear from IMF managing director Kristalina Georgieva who says that while governments need to head off high levels of debt, she is optim...

Chinese developer stocks sink despite the housing ministry briefing outlining further measures to help prop up the troubled property sector. We are live in Brdo, Slovenia where the ECB’s governing council is holding its annual external meeting ahead of its widely expected second consecutive rate cut later today. Stateside the Dow hits a fresh record high thanks to Morgan Stanley reporting quarterl...

Dutch chip maker ASML suffers its worst sell-off since 1998 after it slashed its sales outlook in an earnings release it published accidentally. Chip stocks see heavy losses globally as a result. French luxury giant LVMH posts its first quarterly loss since the Covid pandemic, missing expectations with the group warning Chinese consumer confidence has hit an all-time low. Adidas increases its FY o...

Crude prices tumble following reports that Israel will back off targeting Iranian oil or nuclear infrastructure. Opec has also slashed its demand forecast. On Wall Street, the S&P 500 records its 46th record close of 2024, helped along by tech giant Nvidia hitting a new all-time high which places it on the verge of overtaking Apple as the world’s most valuable company. We are live at the...

Chinese consumer inflation disappoints for September while deflation deepens in the manufacturing sector. Chinese markets see a volatile session following Saturday’s finance ministry press conference. Finance minister Lan Fo’an says there is ample room for more stimulus measures but stopped short of giving specific details. In the U.S., JPMorgan beats quarterly earnings expectations while Wells Fa...

U.S. inflation data comes in higher than expected with the 10-year Treasury yield held above 4 per cent. Atlanta Fed President Raphael Bostic has proposed a pause in the cutting cycle at next month’s Fed meeting. Tesla CEO Elon Musk unveils the company’s long-awaited ‘Cybercab’ with a prospective production date in 2026 but early market indications are potentially sceptical. In China, there is fur...

FOMC minutes show greater splits over last month’s jumbo 50bps rate cut than initially thought but sanguine U.S. equities shrug off news about September’s Fed decision. In Asia, Chinese stocks extend gains amid heavy trading volumes as the PBOC’s 500bn yuan stimulus measures come into effect. Germany downgrades its growth forecasts, now guiding for a second year of recession. Economy Minister Robe...

Chinese equities come crashing back to Earth, snapping a 10-day winning streak following the PBOC’s recent stimulus measures as economic realities sober up markets. Stateside, the DoJ is considering a break-up of Google following August’s landmark monopoly ruling. French Prime Minister Michel Barnier’s fledgling government survives a parliamentary vote of no-confidence as he prepares to launch his...

The Chinese blue-chip CSI 300 Index pares gains of more than 10 per cent following the week-long National Day Holiday. An official CCP economic conference subsequently fails to wow investors. The World Bank issues a 4.3 per cent growth forecast for the world’s second-largest economy as turmoil in the Chinese property market persists. Tech giant Samsung issues a rare apology for offering Q3 profit...

The Hang Seng stands out among strong Asia equities, hitting a two-and-a-half-year high following Friday’s bumper U.S. jobs data. Confidence is growing that the U.S. is set for a soft landing. Crude prices have enjoyed their best weekly gains in almost two years on the back of last week’s Middle East tensions. Supply disruptions are in focus on the one-year anniversary of the Israel-Hamas conflict...

Crude prices spike once again as U.S. President Joe Biden appears to say that Israeli retaliatory strikes on Iranian oil facilities may be under discussion. Wall Street looks set to snap a three-week winning streak with investors eyeing today’s key non-farm payroll data. OpenAI reveals it has secured a $4bn revolving credit line following the closure of yesterday’s funding round which leaves the c...

Crude prices continue upwards as Israel ramps up strikes on Hezbollah in Beirut and considers retaliatory measures following Iran’s missile attack on Tuesday. OpenAI manages to raise $6.6bn in a new round of fund-raising which has increased its valuation to $157bn. The U.S. private sector continues to surprise with non-farm payroll growth topping expectations as traders reduce their rate cut expec...

Crude prices spike after Iran launches close to 200 missiles at Israel in retaliation for the killing of Hezbollah Hassan Nasrallah. In New York, Vice-Presidential candidates JD Vance and Tim Walz go head-to-head in what is likely the last debate of the presidential race. The pair clashed on immigration, foreign affairs and economic policy. The Nasdaq drags Wall Street down with stocks beginning Q...

The Dow and the S&P 500 notch new records while the Nasdaq enjoys its fourth consecutive quarter in the green. Federal Reserve Chairman Jerome Powell says the central bank does not have pre-set projections for rate cuts. In Japan, equities recover some ground ahead of new Prime Minister Shigeru Ishiba unveiling his new cabinet. Stateside, up to 50,000 longshoremen begin their first strike in a...

Chinese equities surge, building on their best week since 2008, after manufacturing data comes in better than expected, despite the sector shrinking for the fifth straight month. Japanese stocks plummet, however, and yields move higher on a stronger yen as the markets digest the impact of incoming Prime Minister Shigeru Ishiba. In auto news, Volkswagen issues a second profit warning in 3 months as...