Squawk Box Europe Express

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...

BP boss Bernard Looney resigns after failing to reveal the full extent of past relationships with colleagues, with the executive tasked with transforming the energy giant lasting less than four years in the role. The Nasdaq leads declines on Wall Street as Oracle shares steer tech stocks into the red, but focus now turns to today's inflation print with DoubleLine Capital's Jeffrey Gundlach forecas...

Chip designer Arm reportedly looks to close the books early on its blockbuster IPO, amid reporting the listing is now more than 10x oversubscribed. Tech stocks fuel a Wall Street rally with equities seeing back-to-back gains, while Tesla shares accelerate 10% off the back of an analyst upgrade. But JPMorgan Chase CEO Jamie Dimon isn't buying the optimistic view of Wall Street, urging caution and w...

President Biden insists the US is not trying to hurt China and is focused on getting the relationship right, amid reports Beijing tried to challenge Washington's 2026 presidency of the G20. The G20 communiqué faces criticism for watering down its condemnation of Russia, while the US, EU, India and Saudi Arabia strike an infrastructure deal in a blow to Beijing's push for influence over t...

Apple shares take a big hit, losing $200 billion in market value in two days as reporting gathers pace that Chinese government workers have been banned from using iPhones. Shares in Apple supplier Qualcomm drop over 7%, leading U.S. chipmakers lower and weighing on Wall Street, while a fall in jobless claims triggers concerns over higher rates and stubborn inflation. Goldman Sachs CEO David Solomo...

Chinese trade surprises to the upside but continues to contract with monthly exports falling by almost 9 per cent. Wall Street closes in the red with the Nasdaq leading losses as very resilient services sector data increases concerns that inflation may need to rise further for longer. We hear exclusively from EU Internal Market Commissioner Thierry Breton who marks out six tech titans as ‘gatekeep...

The Dow loses 200 points as risk assets retreat during a shortened U.S. trading week with Asian stocks following suit. U.S. Treasuries are lower as Federal Reserve Governor Christopher Waller signals to CNBC that rates may be paused in September as good data has given the central bank some breathing space. Brent is up to more than $90 a barrel after Opec+ nations agree to extend supply cuts by a f...

Chinese equities are down slightly from a one-month high after Caixin PMI data comes in at its lowest level for eight months. The embattled Chinese property developer Country Garden has reportedly tranferred money to creditors for payments on two USD bonds in order to avoid its potential first ever default. Danish pharma giant Novo Nordisk officially replaces LVMH as Europe’s most valuable company...