Inflation is expected to rise 6.7 percent in the U.S, pushing the FED to act faster. Meanwhile, tech stocks lead the losses in the Asia and U.S markets. The U.S is expected to blacklist the Chinese AI firm, Sensetime, while also recording the lowest jobless claims in 52 years. Daimler prepares to list in Frankfurt this morning and aims for 60% of their production to be of electric vehicles.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. pharma giant Pfizer says that its Covid vaccine provides cover for the Omicron variant but that a third and fourth dose would work best. In the UK, Prime Minister Boris Johnson announces ‘Plan B’ to slow the spread of the new variant with work-from-home guidance in England, masks and vaccine certification for some venues. Chinese consumer inflation surges at its fastest pace in over a year due to rising food costs but factory gate price growth slows. And the U.S. Department of Justice warns Deutsche Bank it may have violated the terms of its criminal settlement.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. markets surge with the Nasdaq enjoying its best session since March, and Asian equities also climb on diminishing fears of the Omicron variant. U.S. President Joe Biden holds a two-hour video call with his Russian counterpart Vladimir Putin, warning him of potential economic sanctions should he invade Ukraine. Evergrande’s shares hit a record low as the developer reportedly misses an offshore debt payment deadline. And Nestlé announces plans to sell back $10bn worth of L’Oréal shares to the cosmetics company.   See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Surging costs, supply chain disruption and a strong yuan combine to slow China’s November export growth. Troubled Chinese property giant Evergrande appears on the verge of bankruptcy with some foreign bondholders reportedly not receiving payments. We hear from IMF Managing Director, Kristalina Georgieva, who says that the fund may downgrade eurozone growth forecasts due to the Omicron variant restrictions and high inflation. In the U.S. the Dow claws back last week’s losses as investors shrug off Omicron concerns. And tensions between Washington and Beijing increase after the U.S. announces a diplomatic boycott of the Winter Olympics citing human rights concerns.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

 Equity markets shrug off a disappointing November jobs report and renewed Covid concerns, while early research out of South Africa shows Omicron hospitalisations have not increased. As European nations broaden restrictions to fight the pandemic, protests erupt in Brussels, the Netherlands and in Catalonia. In France, Les Républicains party selects Valérie Pécresse to contest the presidency next year. Oil prices kick off the week in the green after Saudi Arabia hikes selling prices to Asian countries and the U.S., following six consecutive weeks of declines. And, beleaguered Chinese property giant Evergrande sees shares tumble as it faces another default deadline today, and warns funds are running low.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Dow surges by more than 600 points following the Omicron sell-off, however futures are down ahead of the November U.S. jobs report. Opec+ countries say that they will consider cutting supply ahead of schedule should a new pandemic surge hit demand. The announcement comes after a 400k bpd increase was promised last month. Chinese ride-hailing firm Didi is to delist from the NYSE and move to Hong Kong after Chinese regulators reportedly warned U.S.-listed firms over data security. China sees its services sector expanding at a slower pace in November, hindered by inflationary pressures and Covid. And in Europe, Brussels has said that the Omicron will become the dominant strain on the continent within months, while Germany is considering forced vaccinations.     See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

In another turbulent trading session, Wall Street swings sharply lower on the news that the first case of the Omicron variant in the U.S. had been discovered in California. Oil prices surge with investors anticipating a decision to slow down supply from OPEC+ members as the new Covid variant is predicted to take its toll on demand. In Turkey, finance minister Lutfi Elvan resigns and is replaced by an Erdogan loyalist keen on cutting rates amid soaring inflation and a tumbling lira. Meanwhile, Apple suppliers in Asia see stocks dip after the tech giant reports that iPhone demand has slowed due to wait times associated with the chip crisis.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. Federal Reserve Chairman Jerome Powell says it is time to retire the expression ‘transitory inflation’, insisting it has been more persistent than first thought. He also adopted a hawkish tone about tapering. Oil prices claw back some of Tuesday’s losses ahead of two days of OPEC output strategy talks. Swiss lender UBS names Sarah Youngwood as its new CFO following the departure of Kirt Gardner. In China, factory activity for the month of November has returned to contractionary territory on the back of slowing demand and rising prices. Meanwhile, France posts its highest number of Covid cases since April as the Omicron variant continues to spread across the continent.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The CEO of vaccine maker Moderna, Stephane Bancel, casts doubt over the efficacy of existing jabs against Omicron, prompting U.S. futures and the Nikkei to turn red. Oil also dips on the news, but U.S. energy envoy Amos Hochstein tells CNBC in an exclusive interview that the Biden administration is ready to release more special petroleum reserves if need be. As more countries weigh their measures to combat the new variant, the UK widens its Covid booster programme to all those aged over 18. Meanwhile, U.S. President Joe Biden rules out lockdowns following the discovery of Omicron, saying travel restrictions will only help to slow the spread of the variant. And in China, manufacturing grows for the first time in three months following a fall in prices and an easing of supply chain pressures.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Countries around the world respond to the discovery of the Omicron Covid variant by imposing new restrictions. Asian equities dipped after Friday’s sell-off, but Wall Street looks set to claw back some of its heavy losses. In the UK, Prime Minister Boris Johnson reintroduces some restrictions to slow the spread of Omicron and Health Secretary Sajid Javid says societies must learn to live with Covid. Meanwhile in the Netherlands, more than a dozen people test positive for the new variant after having arrived on two flights from South Africa.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Stocks sell off, and US futures plunge as the WHO calls an emergency meeting over a new covid variant discovered in southern Africa, and the EU renews vaccination calls. Travel bans return – as nations ban flights from the region. South Africa's Foreign Ministry says the UK's move to put six southern African nations back on the red list is rushed, and it's seeking a reversal. Crude prices also head deep into the red on renewed demand concerns and fears of a rising surplus in the first quarter. And French fishermen threaten to blockade the Channel Tunnel and the port of Calais today, in protest at UK fishing licenses.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Germany’s new coalition is unveiled with the SPD’s Olaf Scholz set to be Chancellor. The Greens receive the foreign and economy ministries while the FDP is set to run the finance ministry. The coalition says it will consider vaccination mandates while Italy tightens restrictions on the unvaccinated. According to November’s FOMC minutes, Fed members are considering rate hikes should price pressures continue – as the central bank’s preferred inflation measure surges 4.1 per cent on the year in October. Meanwhile, a dozen Chinese companies are added to the U.S. trade blacklist due to national security and foreign policy concerns.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. President Joe Biden announces the first emergency SPR release in a decade. More than 50mn barrels will be freed up in a bid to blunt spiking prices. In Germany, the new coalition government is expected to be unveiled today, after an impasse over who would lead the Bundesbank, and a last-minute intervention from acting Chancellor Angela Merkel. A massive sell-off of the Turkish lira sends it to historic lows against the dollar, with inflation in the country soaring to near-20 per cent and as President Erdogan vows to win an ‘economic war of independence.’See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. President Joe Biden renominates Jay Powell for a second term as Federal Reserve Chair. Lael Brainard gets the nod for Vice-Chair, after weeks of speculation that as the Fed Board’s only Democrat she could have been chosen for the top job. Biden stressed the need for the central bank’s continued neutrality and independence. The S&P 500 and the Nasdaq hit fresh record highs but investors are now focused on the Fed’s schedule for rate hikes. In corporate news, video-conferencing firm Zoom beats quarterly expectations and issues a better-than-expected outlook. However, shares are down on slowing revenue growth due to workers returning to offices. And the U.S. is set to release crude from its strategic reserves today in a bid to lower petrol prices.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Anti-lockdown protests spread throughout Europe, with violent scenes rocking Brussels, Vienna and Amsterdam as cases continue to spike across the continent. A coalition government agreement in Germany is imminent with key roles for the FDP’s Christian Lindner and the Greens’ Annalena Baerbock and Robert Habeck. In corporate news, U.S. private equity giant KKR launches a €10.8 bn bid to take Telecom Italia private, while UBS says former Morgan Stanley president Colm Kelleher is to take over from outgoing chairman Axel Weber.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Germany unveils new restrictions limiting movement for the unvaccinated in a bid to curb further Covid infections, amid a spike in Europe. The S&P 500 and the Nasdaq hit new record highs with investors awaiting the result of President Biden’s choice for Federal Reserve chair. Meanwhile, Chinese online retail giant Alibaba sees shares nosedive as it posts a quarterly miss and slashes its guidance. And Apple sets its sights on launching a fully autonomous EV as soon as 2025.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Crude prices dip after OPEC and the IEA warn that supplies are building up, and the U.S. investigates whether prices are being manipulated, with President Biden calling for major consuming nations to release their reserves. In tech news, Nvidia beats expectations on strong demand for its AI chips but Cisco misses, cutting its full year guidance. Acting German Chancellor Angela Merkel says her country is seeing a ‘dramatic’ fourth Covid wave, while Belgian Prime Minister Alexander De Croo tells CNBC that his country is battling a strong mutation of the virus. We also hear from U.S. Former National Security Adviser John Bolton, who insists that Vladimir Putin is engineering the migrant stand-off on the Polish-Belarussian border. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Strong U.S. retail sales for October drive Wall Street gains as robust consumer spending continues despite rising prices. U.S. President Joe Biden is set to reveal the next Federal Reserve Chairman this week while CNBC hears from Deputy Treasury Secretary Wally Adeyemo, who says inflation will remain high all the while Covid is rampant. The fallout from Shell’s decision to quit the Netherlands continues, as an MP in The Hague threatens to slap it with an exit tax over its move to the UK. Meanwhile, shares in EV makers surge as Lucid overtakes Ford by market cap and Rivian becomes the word’s third most valuable auto maker.     See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. President Joe Biden holds his first direct talks with his Chinese counterpart Xi Jinping, and warns relations between the two nations should not descend into conflict. Cryptocurrencies slide as the U.S. infrastructure bill is signed into law. The Dutch government launches a last-ditch effort to convince Shell not to shift its tax base to the UK. Tesla CEO Elon Musk continues his stock selling flurry, sending the EV maker’s market cap beneath $1tn.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

A last-minute commitment to phase down the use of coal at Cop 26 in Glasgow has been undermined by China and India, both of whom say the use of fossil fuels is key to economic growth. Unexpectedly strong retail numbers in China boost October consumer data, while industrial output for the month was also higher. U.S. President Joe Biden and Chinese President Xi Jinping are set to hold their first meeting, albeit virtually, with Taiwan expected to be central to talks. Meanwhile, violence broke out in the Netherlands where a three-week partial lockdown has been implemented while in Austria, unvaccinated residents have been ordered to stay home.   See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

COP26 enters its final day with countries yet to agree on a 1.5°C limit to global warming. The UN’s Secretary General says the goal is on ‘life support,’ while COP President Alok Sharma warns time is running out. Presidents Xi and Biden will reportedly meet virtually on Monday—right as the U.S. President ramps up restrictions on Chinese tech. EV maker Rivian is now worth more than General Motors, with shares soaring another 22% two days after going public. Tesla CEO Elon Musk takes a shot at his new rival. Meanwhile, Belarus threatens to turn off Europe’s gas supplies, amid an escalating migrant crisis at its western border.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. consumer prices rise at their fastest pace in over 30 years in October, jumping 6.2% and pushing yields higher, while major indices close in the red. Disney shares drop after the bell, as the House of Mouse reports lower Disney+ subscribers than expected, and posts its first earnings miss since the beginning of the pandemic. But, CEO Bob Chapek reaffirms his guidance and expansion plans to CNBC. Plus, the world’s two biggest carbon emitters come together at COP, as China and the U.S. announce a surprise plan to boost climate cooperation and cut emissions. And earnings season continues. Siemens tops sales and orders expectations for the fourth quarter, as the German corporate giant proposes a dividend of €4 a share. Zurich Insurance reaffirms its 2022 targets as it reports strong momentum across all business segments, and a strong capital position.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

China's factory gate prices hit a record high in October, inflated by rising raw material costs and continued supply chain concerns. U.S. producer prices also hit record levels, as attention turns to the crucial CPI data due today - while the Fed's James Bullard tells CNBC, exclusively, that the central bank is positioned to hike rates next year if needed. Rivian prices its IPO above the range, valuing the EV-maker upwards of $66 billion ahead of its Nasdaq debut. Meanwhile Elon Musk loses $50 billion in two days as Tesla's stock drops another 12%, amid the continued fallout from his Twitter poll on cashing out. And it's a busy day for earnings in Europe, with Siemens Energy, Allianz, Adidas, Ahold Delhaize, and Infineon all reporting. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The S&P breaks 4,700 for the first time, and the major indices close at record highs as infrastructure stocks pop on the back of President Biden's big spending bill. But Asian shares are mixed Tuesday, despite a surge in Softbank, after the group yields to investor pressure and unveils a $9 billion stock buyback. Crypto surges, with heavyweights Bitcoin and Ether both hitting new all-time highs ahead of a major Bitcoin software upgrade next week. The Netherlands joins a COP26 commitment to end public financing of fossil fuel projects, but some motor giants hold out on signing a deal to end new car emissions by 2040 - as former U.S. President Obama urges more action. And Euronext cuts ties with the London Stock Exchange for its clearing operations, saying it will clear all trades on its newly acquired Italian platform by 2024.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

President Biden's $1.2 trillion infrastructure bill passes the House of Representatives after months of political infighting, with a vote on the larger 'Build Back Better' bill in the days ahead. Wall Street hits record highs, as investors cheer a massively improved jobs report. But a slump in tech valuations across Softbank’s Vision Fund pushes it into the red for the second quarter, as the Japanese conglomerate posts a net loss of $3.5 billion dollars. Berkshire Hathaway's cash pile hits a record high, despite aggressive buybacks, and as third quarter operating profit jumps 18-percent on a continued recovery in its railroad, utilities and energy businesses. China posts a record trade surplus, as exports surge more than expected - with year to date exports now exceeding those for the whole of last year. And Engie enters exclusive talks with Bouygues over a 7-billion euro sale of its energy services unit, as the French energy group continues its shift to renewables.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Bank of England Governor Andrew Bailey hits back at criticism the central bank mislead markets after the surprise decision to keep rates on hold, telling CNBC the central bank hasn’t ever said it would raise rates this month. US jobless claims hit a fresh pandemic-era low, as attention turns to the nonfarm payrolls report, with 450,000 jobs expected to be added. OPEC+ nations dismiss US pressure to turn on the taps - rolling over the August production plan despite a surge in crude prices. And as the first week of COP26 draws to a close in Glasgow, negotiators are cheering progress on cash, coal, methane and trees.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Federal Reserve says it will start tapering its massive Covid-era stimulus programme and to slow bond-buying from this month. However, a rate hike is not on the cards. Meanwhile, the Bank of England is potentially willing to raise rates in the face of surging inflation, but the MPC vote is likely to be split with some members pushing to delay the move until December. A couple of big European lenders came out with results. Credit Suisse warned of a Q3 net loss, announcing a new group strategy, splitting the business into four separate divisions. And, Société Générale has had a surprise change of CFO as the French lender saw third quarter profits soar by 80 per cent amid a waning cost of risk. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

President Joe Biden slams Chinese President Xi Jinping’s decision not to attend the Cop26 climate summit and says that no date has yet been set for the pair to meet. We hear from BlackRock CEO Larry Fink, who says that the private sector risks ‘massive market arbitrage’ should it not catch up with public sector action on climate change. The Fed inches closer to tapering as markets hold at fresh highs. UBS chairman Axel Weber tells CNBC he’s not concerned about central banks taking action to anchor inflation expectations. Meanwhile, China’s services sector shrugs off inflationary pressures to grow in October off the back of rebounding demand. And in tech news, Facebook scraps its facial recognition system and also deletes a billion users’ online data.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

More than 100 nations attending the Cop26 summit in Glasgow have signed up to a deforestation pledge. We hear from U.S. climate envoy John Kerry who says negotiations so far have been ‘encouraging’. India’s Prime Minister has made one of the first major commitments of the conference, vowing to take his country to net zero emissions by 2070. Meanwhile, we have quarterly results from Standard Chartered and BP and we are also live at the Web Summit in Lisbon where Facebook whistleblower Francis Haugen has called for CEO Mark Zuckerberg’s resignation.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

We are live in Glasgow, Rome and London ahead of the landmark COP26 summit. UK Prime Minister Boris Johnson says humanity must not flinch in the face of the climate change. However, U.S. President Joe Biden voiced disappointment at the slow progress seen during the G20 in Rome and lashed out at the lack of climate commitment from China, Russia and Saudi Arabia. Washington and Brussels agree on lifting steel and aluminium tariffs while Italian PM Mario Draghi tells CNBC he has high hopes for a return to multilateralism. And in Asia, markets are broadly higher. The Nikkei is leading gains as Japan’s ruling LDP maintains its majority in parliament.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Apple fails to beat quarterly earnings expectations for the first time in 5 years. Despite Q3 revenue jumping by nearly 30 per cent, the tech giant has felt supply chain bottlenecks bite on phone and computer sales. Amazon also misses forecasts as the pandemic-era e-commerce effect begins to wane and consumers start switching back to physical stores. Its outlook for the Christmas period ahead also disappointed. Facebook has announced a rebranding, now calling itself Meta. The social media company looks to focus on a new vision for the internet. Meta CEO Mark Zuckerberg hopes to move on from recent scandals. In the U.S., the S&P 500 hits a new record high as investors ignore weak GDP growth data. The Nasdaq also hits an all-time peak. And, we hear from BNP Paribas CFO Lars Machenil who says the French lender is well positioned for continued gains after posting a near-5 per cent rise in Q3 revenues.   See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Airbus boosts its FY guidance as profits dip less than forecast on the back of pandemic belt-tightening. Shell faces activist investor ire as hedge fund Third Point reportedly builds a $750m stake and demands a break-up of the company’s assets. In Canada, the central bank ditches its Covid-era bond-buying programme while European markets await today’s ECB rate decision. We also have a slew of Q3 earnings on Super Thursday with C-suite interviews from Skanska, WPP, Volkswagen and more.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Google parent Alphabet posts record Q3 profits on the back of strong advertising sales, but its shares trade lower in extended hours despite the company shrugging off any perceived impact from Apple’s iOS changes. Microsoft also beats expectations on strong cloud performance – its best quarterly sales growth in 3 years. Meanwhile, Chinese industry reports booming profit growth in the face of supply chain bottlenecks, high raw material costs and power rationing. Meanwhile in Washington, Democrats announce plans over a new wealth tax against the country’s richest companies while they wrangle over funding for President Biden’s ‘Build Back Better’ plan. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Swiss lender UBS smashes Q3 forecasts, with pre-tax profit surging by more than 30 per cent. Facebook earnings top expectations and the company increases its share buyback programme, but the numbers are overshadowed by whistleblower Frances Haugen’s testimony to UK lawmakers in which she accused the social media giant of political bias and putting profits over online user safety. Facebook has hit back at the allegations. Tesla breaks through the $1tn market valuation ceiling after car hire Hertz company orders 100k vehicles. The deal prompts shares to soar, adding $36bn to CEO Elon Musk’s personal fortune.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Europe’s largest lender, HSBC, posts stellar Q3 results with a 74 per cent surge in profits and announces a £2bn share buyback programme. CFO Ewen Stevenson tells CNBC the bank is well positioned for any interest rate hikes. Meanwhile, Italy’s attempts to save distressed lender BMPS takes a hit after discussions between Unicredit and the state treasury collapse. Evergrande sees shares spike for its EV unit after the Chinese developer’s chairman hints at a move away from property. And Facebook’s woes continue ahead of earnings today. Whistleblower Frances Haugen is due to provide further testimony about online safety at the social media giant in London today.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The S&P 500 closes at a record high – the seventh consecutive day in the green – boosted by Tesla’s performance. However, IBM shares close nearly 10 per cent lower, pushing the Dow to close lower on the day. In China, property giant Evergrande has reportedly paid a key interest payment, bumping shares higher and raising hopes in the sector that the company can avoid a default. European corporates continue their latest earning disclosures. L’Oréal reports higher Q3 performance on strong demand for luxury beauty products. On Wall St., Snap shares are down by more than 20 per cent with the social media site blaming Apple’s recent privacy changes for disrupting its advertising business. And EU leaders meet in Brussels where many criticise Poland over its stance on EU law, but Polish Prime Minister Mateusz Morawiecki says Warsaw will not accept ‘blackmail’ from the bloc.   See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Strong U.S. earnings push the Dow to a new intra-day high, while Bitcoin hits its own record. Tesla shares sink in extended trade after the EV maker issues a warning about supply chain problems affecting margins. In France, retail giant Carrefour holds its FY cashflow outlook steady despite taking a hit from Covid restrictions. And Swiss-Swedish robotics and automation giant ABB cuts guidance, as earnings miss forecasts.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. indices are firmly in the green with the S&P 500 posting a fifth consecutive day of gains, boosted by positive Q3 earnings. Asian equities have followed suit. Netflix announces that Squid Games has become its biggest TV show ever, pushing the streaming giant’s latest earnings ahead of forecasts. Meanwhile, the first ever Bitcoin futures ETF gains on its first day of trading, pushing the cryptocurrency towards its all-time high. In luxury news, however, Gucci posts a miss as new Covid outbreaks in Asia outbreaks hamper sales, but parent company Kering Group sees like-for-like sales jump by 12 per cent to beat expectations.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The S&P 500 is in the green for the fourth day running ahead of key U.S. earnings. Industrial production Stateside, however, slumps to a more than six-month low. Alibaba’s Hong Kong shares trade higher following the launch of a new server chip for its cloud unit which could directly compete with Amazon and Microsoft. And Apple shares jump as investor’s cheer the tech giant’s newly launched Air Pods and MacBooks powered by its in-house semi-conductors, further breaking away from Intel. We are also live at the UK Global Investment Summit in London where Prime Minister Boris Johnson is due to announce almost £10bn of UK business commitments in an attempt to attract investors from around the world after Brexit and the Covid pandemic.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

China’s economy grows at its weakest pace for a year as energy troubles and supply chain bottlenecks stifle momentum. But consumption remains strong as retail sales beat expectations. The PBOC says that the fallout from the Evergrande debt crisis is manageable but admits that ‘mismanagement’ within some of the country’s biggest companies does pose risks. The BoE’s Andrew Bailey says rising costs may prompt action from the central bank but ECB president Christine Lagarde tells the IMF that she has no reason to believe inflation will not be transitory. And in Germany, Olaf Scholz edges ever closer to the chancellery after the Green Party votes to enter formal coalition talks with the Social Democrats and FDP.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The S&P posts its best day since March as earnings season kicks into gear on a upbeat day for US markets. All three major averages are now on track to end the week in positive territory. Banking stocks are among the winners on Wall St. Bank of America, Morgan Stanley, Citi and Wells Fargo all post earnings beats as trading ramps up and credit reserves are released. As the gas crisis grips Europe and prices soar, Russia's Deputy Prime Minister Alexander Novak tells CNBC that the Nord Stream 2 pipeline is a ready-made solution, waiting to go. And Hugo Boss hikes its full-year outlook, amid strong demand in Europe and the Americas, but the German fashion retailer warns of the impact of renewed Covid restrictions in the Asia Pacific region.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

President Vladimir Putin tells CNBC his country is not weaponising gas against Europe but instead blames the U.S. for not addressing supply issues in advance. Putin was speaking at Russia’s Energy Week, where we also spoke to a slew of energy bosses, including BP CEO Bernard Looney who said the current gas crisis can only be resolved with further investment in the sector. Meanwhile, two more UK gas companies - Pure Planet and Colorado Energy – collapse amid the autumn price spike. In Washington, the latest FOMC minutes indicate that U.S. tapering may begin as early as mid-November as annual inflation surges to its highest level for 30 years. Inflation sees highs across the Pacific as well, with Chinese factory gate prices rising at their fastest pace since records began, but CPI is held down by weak pork prices. And U.S. banks kick off Q3 earnings with JPMorgan profits boosted by better-than-expected loan losses.   See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

China sees accelerating export growth beat expectations for the month of September, but imports fall short, prompting fears of a domestic slowdown. The IMF revises its global growth outlook, citing supply chain issues and the Covid pandemic for the cut. Chief Economist Gita Gopinath urges a more urgent global vaccine rollout. And earnings season gets under way with LVMH Q3 sales up 20 per cent, but an Asian Covid resurgence is hampering growth in its watches and jewellery divisions. Later this Wednesday, JPMorgan reports its latest earnings and we’ll get crucial inflation data from the U.S. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Oil surges with U.S. crude at 7-year highs but Wall Street finished in the red as global equities markets fret over inflation concerns. Under-fire IMF Managing Director Kristalina Georgieva gets the backing of the agency over a data-rigging scandal, but U.S. Treasury Secretary Janet Yellen warns over slipping ethical standards. Chinese property giant Evergrande fails to honour yet another debt deadline. Rival real estate companies Modern Land and Sinic also move to delay their own due dates. And JP Morgan CEO slams Bitcoin as ‘worthless’ but says he will still commit to helping clients access the cryptocurrency which is up 30 per cent in October.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

A positive week for Wall Street gives way to disappointing U.S. jobs data in September, despite Congress agreeing to extend the debt ceiling. Meanwhile, world leaders reach a historic agreement for a minimum global tax rate of 15 per cent. The energy sector continues to be in focus with oil prices continuing to rise on surging demand. WTI hits its highest level in 7 years, surpassing $80 a barrel. Gas, however, falls. UK industry leaders still warn of potential shutdowns without government assistance. Business Secretary Kwasi Kwarteng has stopped short of guaranteeing there would be no disruption to consumers this winter. In China, Meituan shares are up after the shopping platform received a smaller-than-expected fine for abusing its market position.   See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. markets hit a three-day green streak after lawmakers in Congress agree to extend the debt ceiling until early December. Chinese services activity bounces back, while stock markets resume activity positively following the Golden Week holiday. In Germany, Armin Laschet says he will stand down as leader of the CDU following the party’s worst electoral showing ever with leadership elections proposed for next week. The OECD inches closer to a 15 per cent global tax agreement after Ireland moved to ditch its 12.5 per cent rate. And in tech news, Samsung is due to post its best quarterly profits in 3 years on elevated semi-conductor prices. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The GOP offer a temporary truce in federal funding talks with Democrats, potentially extending the debt ceiling to December. U.S. equities rebound on the news and Asian stocks rise amid a volatile week of trading so far. Meanwhile, natural gas prices in Europe whip-saw on Wednesday after Russian President Vladimir Putin offers to boost supplies to the continent, as the Kremlin expects prices to ease further once Berlin greenlights the Nord Stream 2 pipeline. Germany’s FDP and the Greens enter coalition talks with the SPD today, moving Olaf Scholz closer to succeeding Angela Merkel as Chancellor. And plans are afoot for Presidents Biden and Xi to hold virtual talks following successful high-level negotiations between the U.S. and China in Zurich.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Wall Street rebounds from recent lows, with tech stocks solidly in the green following Tuesday’s rout. Meanwhile, the U.S. heads towards a potential default if Congress cannot pass measures to raise the debt ceiling. U.S. Treasury Secretary Janet Yellen tells CNBC exclusively that delays failing to pay government debt could be “catastrophic”, warning of a potential recession. Gas prices soar once again in Europe and the U.S. causing fresh inflationary jitters. This as UK gilt yields hit two-year highs, with the driver shortage continuing to have knock-on effects in the economy. In Paris, OECD members have moved a step closer to agreeing a global tax deal, tweaking the wording of the draft. And a Facebook whistleblower testifies to the U.S. Senate saying the social media giant prioritises profits over user safety. CEO Mark Zuckerberg denies the claims. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.