Squawk Box Europe Express

U.S. markets see a Thanksgiving sell-off. Meanwhile, President-elect Biden’s call for people to observe Covid rules is met with a mass holiday travel getaway across the country. This, as rising jobless claims came in worse than expected. In Europe, ECB Vice-President Luis De Guindos has told CNBC that while bank profits on the Continent will be temporarily weak, the sector remains robust. UK marke...

The Dow breaks the 30,000-point barrier for the first time ever with the index set to enjoy its best month since 1987. President Trump calls it “a sacred number”. Meanwhile, President-elect Joe Biden tells NBC the White House is sincere in its transition efforts and that the transfer of power will continue smoothly. In France, President Macron warns citizens to do everything possible to avoid a th...

President Trump gives ground, agreeing to provide assistance to the Biden transition team by instructing a Federal agency to brief and fund the incoming administration. Dow futures jump on the news and the Russell 2000 small-cap index hits a new record high. Former Federal Reserve chair Janet Yellen is widely tipped to become the first female U.S. Treasury Secretary, while former U.S. Secretary of...

G20 leaders meet virtually and call for global, equitable access to vaccine programmes and continued economic support. Host Saudi Arabia has lauded the stimulus measures enacted by governments around the world. Vaccine optimism has U.S. futures pointing to the upside along with opening calls in Europe, this despite a surge in cases in the States. Germany may begin vaccine roll-outs as soon as Dece...

U.S. Treasury Secretary Steven Mnuchin calls for an end to certain virus support programmes, causing futures to dip. The Fed, however, pushes back against wrapping up business support measures. President-elect Joe Biden says he will name a new treasury secretary around Thanksgiving and vows not to lock down the economy. In Europe, Brexit negotiations are set to resume remotely after a member of th...

U.S equities close sharply in the red on the back of New York Mayor Bill De Blasio’s public school closures in response to rising Covid-19 cases in the city. This, as the overall Covid-related death toll in the U.S. reaches 250,000. JPMorgan CEO Jamie Dimon says continued caution is needed despite the news that the Pfizer-BioNtech vaccine deliveries could begin by Christmas. Meanwhile, global corp...

Wall Street closes in the red after disappointing retail sales in the U.S. renew calls for more fiscal support, with Democrats urging Republicans to return to the negotiating table. Legendary investor Masayoshi Son tells CNBC he is selling off Softbank assets to hoard cash in a bid to mitigate any Covid-related ‘worst-case scenario’. Facebook’s Mark Zuckerberg and Twitter’s Jack Dorsey appear...

The Dow hits a fresh record high after U.S. pharmaceutical company Moderna says its vaccine is 94 per cent effective. Travel shares react to the upside, while lockdown stocks such as Zoom and Netflix trade lower. President-elect Joe Biden urges a smooth transition of power to help contain the Coronavirus impact across the United States. In Brussels, Hungary and Poland veto the EU’s virus recovery...

A major trade deal in Asia drives the continent’s equities higher as fifteen countries in the region sign the world's largest agreement, a move labelled as a 'coup for Beijing'. The deal includes China, South Korea and Japan but not India or the U.S. For the first time, President Trump publicly admits Joe Biden won the election but refuses to concede, while the President-elect prepares to meet vac...

The S&P 500 loses most of the week's vaccine-based gains after Fed Chair Jerome Powell cautions on a quick return to pre-covid growth rates, while cases stateside hit another daily record. Central bank chiefs hail their joint response at a European Central Bank forum. ECB Executive Board member Isabel Schnabel tells CNBC exclusively that agility will be key for the second wave. And, NBC News p...

Tech stocks on the Nasdaq finally break the sell-off, ending higher while cyclicals lag and futures dip on both sides of the Atlantic. In China, e-commerce giant JD.com sees shares rally, shrugging off regulation concerns. We speak exclusively with CEO Xu Lei who says domestic demand is soaring. President-elect Biden has held bilateral calls with the leaders of Australia, Japan and South Korea as...

Tech companies are hit hard amid a rotation trade while under-loved lockdown stocks continue to make gains. Alibaba shares see red as the threat of fresh regulation from Beijing overshadows a Singles Day sales bonanza. CNBC hears exclusively from IBM chairwoman Ginni Rometty who welcomes Joe Biden’s U.S. election win and progress in obtaining a Covid-19 vaccine. And we also hear from Boston Federa...

The Dow rallies to its highest level since June after Pfizer and BioNTech   claim their vaccine candidate is over 90 percent effective. Travel and airline stocks particularly outperform. However, tech stocks plunge on the news with the Nasdaq seeing the widest trading range with other major markets since the dotcom bubble. US president-elect Joe Biden welcomes the news but remains cautio...

Joe Biden calls for unity during his first speech as president-elect. U.S. futures react positively as a result. President Trump, however, refuses to concede defeat and will challenge the legality of the election. Biden is reportedly planning to create a Covid-19 taskforce as infections across the U.S. hit new record daily levels. UK Prime Minister and the European Commission President Ursula Von...

The delayed result of the U.S. presidential election still hinges on several key states with vote-counting coming down to the wire. President Trump has doubled down on claims of electoral fraud by the Democrats, despite his campaign losing two legal challenges. The race in Georgia is virtually tied and Pennsylvania remains too close to call. Democrat candidate Joe Biden has urged for calm while ba...

The vote count for the U.S. presidential elections continues, with the result on a knife-edge. Two key battleground state wins have emerged for the Democrats. The Trump campaign has demanded a ballot recount in Wisconsin and is filing a lawsuit in Georgia. President Trump is planning more legal action and has urged the Supreme Court to weigh in on alleged counting irregularities. Meanwhile, Democr...

It’s Election Day in the U.S. A CNBC-Change Research poll indicates that Democrat candidate Joe Biden is holding a narrow lead over President Trump in 6 swing states. Up to 68% of those polled say that they have already cast their ballots. The President has called on the U.S. Supreme Court to review a decision to count mail-in ballots arriving after election day. He warned that the ruling could sp...

UK Prime Minister Boris Johnson is set to announce his new Covid -19 restrictions to parliament, amid concerns the 28-day lockdown may not be enough to control the spread of the virus. In the U.S. an NBC/WSJ polls shows Joe Biden leading President Trump by 10 points a day ahead of the presidential election. President Trump has raised fears of electoral integrity should voting-counting continue pas...

It’s a big day for U.S. tech earnings. Alphabet Q3 numbers soar past expectations after advertising revenue bounced back following its first ever quarterly decline. Apple also beats analysts’ expectations but investor reaction is muted on a lack of guidance and disappointing iPhone sales. Amazon shares see-sawed wildly in extended trading yesterday with stocks initially up on the online retail gia...

Lockdown 2.0… France and Germany announce fresh national restrictions to combat the second wave of Covid-19 over the coming winter months. U.S. markets plunge as the Dow suffering its worst day since June with investor confidence rattled ahead of next week’s presidential election. Asia-focused lender Standard Chartered beats Q3 pre-tax profit expectations but performance remains tempered by low in...

Earnings season is in full swing on both sides of the Atlantic. In Europe, all eyes are on Deutsche Bank’s third-quarter data with a focus on its loan loss provision figures and trading levels. Meanwhile, Danish brewing giant Carlsberg posts better-than-expected Q3 numbers, enjoying a strong summer surge in China and Russia as lockdown measures eased. In tech news, Microsoft beats estimates across...

Banks are in focus today, as HSBC’s third quarter profit beats expectations but falls 36 percent sending shares higher. The company’s CEO tells CNBC interest rates are expected to remain low. Santander sees net profit treble in the third quarter, but the Spanish bank says it will cut an additional 1 billion euros in costs over the next 2 years. In the U.S., the Dow posts its biggest one day drop s...

US futures come under pressure as America sees a record weekend rise in COVID-19 cases, while Vice-President Mike Pence stays on the campaign trial despite a number of his close aides testing positive. The surge of virus cases in Europe have led the Italian government to impose fresh pandemic measures, putting a curfew on bars and restaurants, and re-closing gyms and cinemas. Prime Minister Giusep...

President Trump and Democrat challenger Joe Biden spar in the final U.S. presidential debate. The topics the pair clashed on included the Covid-19 response, healthcare and the state of economy. U.S. markets close on the upside as American jobless claims fall, signalling an improving economy while House Speaker Nancy Pelosi says a virus stimulus bill is nearing agreement. In Europe, up to two-third...

Tesla has reported its fifth quarterly profit in a row on accelerated vehicle sales. After-hours trading sees shares higher and CEO Elon Musk believes he can expand production up to 20m vehicles annually. Markets are sceptical of a pre-election virus stimulus deal in the U.S., but House Speaker Nancy Pelosi is optimistic she and the White House are close to an agreement. Spain is the first Europea...