Squawk Box Europe Express

Wall Street is split, with the Nasdaq recording its worst session since December 2022 while the rotation away from tech stocks continues, helping the Dow to close above the 41,000-point mark for the first time. President Biden pulls out of an event in Nevada after testing positive for Covid while at the RNC in Milwaukee, Ohio Senator JD Vance invokes the words of JFK during his formal acceptance o...

Semi-conductor earnings are in focus with ASML earnings due while shares in TSMC slump after GOP presidential nominee Donald Trump says he would demand Taiwan pays for American protection against China. The Dow rallies more than 700 points to close at a new record high on new optimism over Fed rate cuts. HSBC appoints Georges Elhedery as its new group CEO. He is due to take up the position in Sept...

Donald Trump selects Ohio senator JD Vance as his running mate for November’s presidential election, just two days after the weekend assassination attempt in Pennsylvania. U.S. President Joe Biden defends his mental acuity in an NBC interview while warning that the threat from his opponent is too serious to ignore. German clothing brand Hugo Boss slashes its sales forecast for the second time this...

Former U.S. President Donald Trump survives an assassination attempt while speaking at a campaign rally in Butler, Pennsylvania ahead of his formal presidential nomination at the GOP convention in Milwaukee. President Joe Biden makes a televised address to the nation condemning the shooting, asking Americans to ‘cool down’ political rhetoric. In China, Q2 GDP falls short of expectations slowing to...

President Biden remains defiant in the face of top Democrats’ calls to step down from the presidential nomination following his latest string of gaffes during last night’s NATO press conference. The S&P 500 and the Nasdaq are both down from recent record highs as the U.S. inflation print for June comes in as the weakest monthly reading in 4 years. Tesla shares nosedive following reports t...

The S&P 500 records its longest streak in the green, closing above 5,600 for the first time ahead of today’s U.S. CPI data print. In Washington, NATO leaders are set to announce new aid measures for Ukraine while criticising China over its alleged support for Russia’s war in the country. Samsung unveils a range of new products at its Galaxy Unpacked event in Paris with upgraded A.I. models dom...

Fed Chair Jerome Powell testifies on Capitol Hill, giving one of his strongest signals yet that a rate cut may be imminent. Powell said that holding rates too high for too long may jeopardise the health of the U.S. economy. As a result, the S&P 500 and Nasdaq hit new record highs but markets are down in Asia as China’s June inflation data disappoints. We are live in Washington D.C. where gathe...

The French political impasse deepens as the leftist bloc insists it will head the next government. This, while President Emmanuel Macron rejects Prime Minister Gabriel Attal’s resignation. The S&P 500 and Nasdaq both close at record highs while in Asia, the Nikkei rallies by more than 2 per cent as investors anticipate Fed Chair Jerome Powell’s Congress testimony later this week. U.S. Presiden...

France’s left-wing coalition scores a shock victory in the country’s parliamentary elections, holding off Marine Le Pen’s Rassemblement National who finished third. The country now faces a hung parliament with no clear indication of who will lead the government. Prime Minister Gabriel Attal has said he will resign later today. We are live in Paris for the latest. The euro and bond futures both fal...

Sir Keir Starmer’s Labour Party wins a landslide election in the UK, securing the largest majority for any political party since 1997. The Conservatives are on track to lose 218 seats - a historic low for the party. The Liberal Democrats claw back former Tory seats while Reform UK notch 15 per cent of the national vote. We are live outside the House of Commons and Downing Street for the latest. St...

The S&P 500 and the Nasdaq hit fresh records while the ADP report shows new jobs slowing for a third consecutive month. New polls indicate a hung parliament in France with the Rassemblement National falling just short of an absolute majority ahead of Sunday’s second round vote. Former U.S. president Donald Trump increases his lead over incumbent President Joe Biden as a growing number of senio...

Federal Reserve Chair Jerome Powell hails the U.S. central bank’s work to rein in inflation but also echoes ECB President Christine Lagarde, telling CNBC he requires more data before moving to cut rates. Markets remain sanguine with the S&P 500 breaching the 5,500-point mark for the first time as investors take heart from Powell’s positive remarks. In autos news, Tesla shares are up after a Q2...

We are live at the ECB’s annual forum in Sintra, Portugal, where ECB President Christine Lagarde plays down suggestions of a soft landing in the euro zone as price pressures linger. In the U.S., the Supreme Court historically rules that immunity extends to ex-presidents over official acts which would see a delay to former President Donald Trump’s Washington trial for attempting to overturn the res...

Marine Le Pen’s Rassemblement National wins the first round of the French parliamentary election, gaining 34 per cent of the vote with President Macron’s centrist bloc coming third behind the left-wing New Popular Front coalition . We are live in Paris for the latest. Investors take stock of the result with the French-German 10-year bond spread widening to its farthest point since 2012. The UK ele...

President Joe Biden begins the first presidential debate in Atlanta on the back foot, struggling to counter attacks from former President Donald Trump. In Brussels EU leaders renominate Ursula Von Der Leyen for a second term as European Commission President. Estonian PM Kaja Kallas and Portuguese PM Antonio Costa get the nod for foreign policy chief and EU council president respectively despite op...

Prime Minister Rishi Sunak and Labour leader Sir Keir Starmer go head-to-head, trading tax accusations in the final televised debate ahead of next month’s UK general election. The yen has fallen to a new 38-year low against the greenback, triggering speculation the BoJ will intervene and raise interest rates in July. The Nasdaq is in the green, helped by Amazon breaching $2tn in market cap for the...

The leaders of France’s three main political blocs participate in a TV debate with Prime Minister Gabriel Attal and National Rally’s Jordan Bardella accusing one another over unrealistic budgetary plans. In Brussels, European Commission President Ursula Von Der Leyen looks set to win another term as negotiators have reportedly struck a deal ahead of the formal summit. Volkswagen pushes EV start-up...

Nvidia’s record-breaking rally comes to an end with the stock price plunging 7 per cent. The fall erases $550bn from the A.I. semiconductor’s market cap since last week’s peak. At the so-called ‘summer Davos’ WEF meeting in Dalian, Chinese premier Li Qiang says he believes China can hit its growth targets this year, playing down trade conflicts with the EU. In aviation news, Airbus cuts its guidan...

European Union and Chinese officials are to hold talks about the bloc’s planned tariffs on Chinese EVs. Asian markets are mixed after a soft end to the week on Wall Street in the longest stretch of low volatility since the GFC. In France, President Emmanuel Macron’s centrist Ensemble alliance loses more ground in the polls, trailing Marine Le Pen’s National Rally ahead of next weekend’s electoral...

We hear exclusively from IMF managing director Kristalina Georgieva who says Europe is on the right economic path but must take advantage of the single market or fall behind. The Nasdaq breaks its longest winning streak of the year as Nvidia shares pare back. However Wall Street is on course for a positive end to the week with energy stocks leading gains. The BoE signals it may cut interest rates...

The BoE and Norges Bank are expected to hold rates steady today while the SNB looks set to make a second consecutive cut today. UK Prime Minister Rishi Sunak suffers another blow to his chances of re-election with one poll predicting the Tories are on track for its lowest ever seat total next month. In Brussels, Italian Prime Minister Giorgia Meloni’s ECR party overtakes Macron’s Renew bloc to bec...

The world’s most valuable company Nvidia overtakes Microsoft in terms of market cap following a 170 per cent rally this year. Treasury yields fall following lower-than-expected retail sales numbers bolster hopes of a Fed rate cut later this year. Luxury trainer maker Golden Goose shelves plans to list on the Milan stock exchange blaming a deterioration of market conditions following the recent Eur...

Europe's competition chief Margrethe Vestager will soon be ending her mandate in Brussels, after ten years of taking on Big Tech and others. In an exclusive conversation with Squawk Box Europe's Silvia Amaro, she addressed some of the ongoing investigations into Microsoft and Apple and offered a sobering perspective on Europe's place in the world. See Privacy Policy at https://art19.com/privacy an...

We are live in Brussels where the European Commission top job is up for grabs. The EPP is demanding the presidency is split into two terms of two-and-a-half years. Wall Street enjoys a mega-cap rally with the S&P 500 notching a 30th record close this year. In aviation news, Boeing CEO Dave Calhoun prepares to face lawmakers on Capitol Hill over the plane maker’s recent safety record troubles....

Chinese retail sales deliver but concerns remain over the property sector which drag on fixed asset investment. Minneapolis Fed Chairman Neel Kashkari signals a rate cut may happen in December as he calls for more evidence inflation is falling. Israeli Prime Minister Benjamin Netanyahu condemns his generals’ decision to allow for tactical pauses in fighting to permit daily aid to Gaza. Paris sees...