Squawk Box Europe Express

Netflix reports its biggest earnings miss ever in Q3 with a sharp slowdown in quarterly subscribers, pushing shares down by more than 5 per cent in after-hours trading. Meanwhile, U.S. futures rise on virus relief hopes. Talks on a stimulus package inch forward but White House Chief of Staff Mark Meadows says certain unresolved issues remain. The OECD Secretary-General Angel Gurria tells CNBC the...

UBS says it had its best pre-tax Q3 profit in a decade but warns that political instability may result in increased market volatility. U.S. investors wait on stimulus talks ahead the Democrat-imposed deadline for negotiations. But diminished hopes of a deal led US markets to close in the red with the Nasdaq recording its fifth negative session in a row for the first time since 2019. Markets will a...

Chinese GDP misses forecasts but posts a 4.9 per cent rise in the third quarter with retail and industrial activity supporting the post-virus rebound. U.S. futures surge after House Speaker Nancy Pelosi sets a deadline for a stimulus programme to be approved. In Europe, new restrictions are in place across the continent as many governments struggle to contain a second wave of Covid-19. Italy annou...

President Trump and Democrat rival Joe Biden go head-to-head but in separate town hall appearances with the U.S. virus response at the fore of discussions. The White House indicates that it is ready to increase its stimulus offer. Treasury Secretary Steven Mnuchin says House Speaker Nancy Pelosi is the main problem, standing in the way of a deal. We hear from ECB President Christine Lagarde who sa...

Another round of U.S. virus talks stall as U.S. Treasury Secretary Steven Mnuchin says that an agreement seems unlikely before the election. Blowout earnings from Goldman Sachs weigh on U.S. futures and fail to rouse Wall Street. Standard Chartered CEO Bill Winters tells CNBC exclusively that banks are well capitalised in preparation for an event such as the pandemic. In France, President Mac...

U.S. equities break a 5-day winning streak, deepening losses after Eli Lilly halts is Covid-19 drug trial over safety concerns. The Senate is set to vote on a leaner stimulus package, with IMF Chief Economist Gita Gopinath telling CNBC a rescue package deal could add 2 per cent to U.S. growth next year. Apple CEO Tim Cook hails a new era for the iPhone with the launch of its 12th edition, fea...

CNBC hears exclusively from German finance minister Olaf Scholz who says he believes his country’s economy can rebound to pre-virus levels by early 2022, but warned that European leaders need to show further fiscal cooperation. President Trump is back on the campaign trail in Florida after testing negative for Covid-19 but Dr Anthony Fauci says the U.S. is still under-prepared for a second wave in...

Democrats slap down a $1.8tn virus stimulus proposal in a further blow to hopes that an agreement can be reached before the U.S. election next month. President Trump claims he has fully recovered from his bout of Covid-19 and has returned to the campaign trail. France records a new infection high with more cities being placed on the maximum alert level, while Germany sees curfews enforced in Frank...

US stimulus plan keep markets in check, after mixed messages over the future of a stimulus deal. House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin resume talks in an attempt to reach a piece-meal package. President Trump says he may hold a rally this Saturday after the White House physician says he has completed his COVID treatment and is not showing any symptoms that the illness is...

Kamala Harris faces off with Mike Pence in the Vice Presidential Debate. The Senator accuses President Trump of the 'greatest failure in American history' in his Covid-19 response, but Mike Pence says Democrats are excessively pessimistic. Meanwhile hopes of a skinny stimulus package from the White House, helps the Dow rally more than 500 points to post its best day since July. In Europe, infectio...

President Trump cancels stimulus talks until after the election, triggering a Wall Street sell-off. Bridgewater founder Ray Dalio tells CNBC that the move could be damaging to the U.S. economy. Instead, Trump urges lawmakers to focus on passing Judge Amy Coney Barrett’s Supreme Court nomination. He also vows to take part in next week’s presidential debate, but Democrat rival Joe Biden voices conce...

An upbeat President Trump returns to the White House after his four-day stint in hospital with Covid-19, but his physician remains cautious as more staff in his administration test positive for the virus. Democrat presidential nominee Joe Biden tells a Florida town hall that the President was wrong to dismiss the importance of masks, adding that prevention measures are crucial to fighting the pand...

President Trump says he is on the road to recovery after being hospitalised with Covid-19 on Friday. He was put on a course of treatments normally prescribed for more severe cases as his oxygen levels fluctuated over the weekend. Trump surprised fans and well-wishers with a motorcade drive-by yesterday as contact tracing within the White House was ramped up. Asian markets have rallied and European...

President Trump tests positive for COVID-19. Both he and the First Lady begin self-isolating as the White House physician says the President feels well and will continue his duties in full. The announcement follows the news that top aide Hope Hicks had tested positive after recently travelling with the Trump administration’s inner circle. The news drags on US futures and sends risk assets broadly...

U.S. Treasury Secretary Steven Mnuchin tells CNBC that he is prepared to meet Democrats in order to strike an agreement on the virus stimulus deal after earlier talks stalled, delaying a House vote on the matter. Following Tuesday night’s fractious first presidential debate, planners promise a more orderly face-off next time with new rules. In Japan, trading is suspended after a technical glitch d...

U.S. President Donald Trump and Democrat candidate Joe Biden go head-to-head in the first of three presidential debates. The two clashed over healthcare, race, the economy and the Covid-19 pandemic during a fraught ninety minutes in Cleveland. Markets react with U.S. futures largely negative. Stateside indices are now on course to finish September mostly in the red. Disney announces 28,000 job los...

US markets close sharply higher but the Dow, Nasdaq and the S&P 500 are all set to finish September firmly in the red to break a 5-month winning streak. As cases continue to rise amid the virus resurgence, Democrats are hopeful of striking a deal with the White House after proposing a fresh $2.2tn stimulus bill. Meanwhile the U.S. election race heats up with the first presidential debate set f...

A U.S. judge makes an eleventh-hour ruling to stop the Trump administration from blocking TikTok from app stores. This, as the Chinese social media company looks to seal the deal with Oracle and Walmart. Washington-Beijing trade tensions continue to weigh on the technology sector as China’s largest chip maker sees its shares dive after it is hit with tighter U.S. restrictions over security concern...

Major U.S. indices survive a rocky session, finishing marginally to the upside. However, stocks are still on track to log a fourth week of losses. The outlook Stateside is marred by more pandemic uncertainty as Covid-19 cases in the U.S. rise to 7 million, with a surge in the MidWest and the Great Plains. In the UK, Chancellor Rishi Sunak unveils a £10bn programme to safeguard jobs as he confirms...

The Dow loses 500 points in a broad U.S. sell-off, as Federal Reserve Chairman Jerome Powell says more fiscal support is needed, while other central bankers say the US economy remains in a 'deep hole'. Asian equities join the declines, with the Hang Seng and Shenzhen Composite taking the heaviest losses, while European markets look set to open in the red. In corporate news, Tesla takes the trade w...

‘Perilous point’: UK Prime Minister Boris Johnson imposes a new round of lockdown restrictions that could last up to 6 months as cases rise. At a virtual UN General Assembly, tensions rise as President Trump slams China for its role in the Covid-19 outbreak. Chinese President Xi Jinping says he is not seeking a cold war, nor a hot one. US indices break their losing streaks with tech stocks once ag...

Markets on both sides of the Atlantic plunge on heavy losses for banks and travel stocks. The Dow falls 500 points, the S&P 500 posts its first four-day losing streak since February and the Stoxx 600 sees its worst day since June. In the UK, Prime Minister Boris Johnson is expected to impose a new round of Coronavirus restrictions including a 10pm pub curfew and rolling back returns to work. T...

Shares in HSBC fall to their lowest level since 1995 in Hong Kong as the bank is implicated alongside Barclays, Deutsche Bank, JPMorgan and others in a series of leaked documents detailing alleged suspicious fund transactions. The White House grants Chinese social media group TikTok one more week to seal a deal with Oracle and Wal-Mart. President Trump has given the deal his nod, but says parent c...

Going public? TikTok considers a U.S. IPO as the Chinese-owned social media group looks to avert sanctions ahead of a weekend deadline set by the Trump administration. In Spain, Bankia and Caixabank join forces to create the country’s largest lender with up to €700bn in assets. Ratings agency S&P puts German finance company Grenke on negative creditwatch as it awaits the result of an accountin...

The Federal Reserve promises to keep interest rates at record lows until 2023, pushing the S&P 500, the Nasdaq and Asian indices into the red. President Trump says he is concerned about TikTok’s Oracle plan, saying he does not want Chinese tech firm ByteDance to maintain control. He is also seeking payment for the U.S. government’s role in facilitating the deal. And cloud-computing firm Snowfl...