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CNBC's flagship show in Europe sets you up with everything you need to know for the European business day. Anchors Steve Sedgwick, Karen Tso and Arabile Gumede engage in unscripted and dynamic debate on the day's top stories. They are joined by leading business executives, policymakers, financial strategists, fund managers and other newsmakers to provide original points of view and instant analysis of the latest business news and key market themes.
SQUAWK BOX, MONDAY 7TH OCTOBER, 2019
The Dow jumps more than 350 points after the jobs report puts the economy in a sweet spot, but it's a cautious trade in Asia as investors eye high level U.S.-China trade talks due to restart this week. A report suggests Beijing is looking to narrow the scope of the deal. HSBC is reportedly set to slash up to ten thousand jobs as the lender looks to cut costs under new interim CEO Noel Quinn. It’s a calmer day in Hong Kong after anti-government demonstrations turn violent as tens of thousands protest against the city's use of emergency law, drawing their first warning from the Chinese military. And the French President Emmanuel Macron says the EU will decide on a Brexit deal by the end of the week, as UK Prime Minister Boris Johnson says the block shouldn't bet on a delay.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
24:5507/10/2019
SQUAWK BOX, FRIDAY 4TH OCTOBER, 2019
U.S. equities bounce back following two days of selling off, while weak economic data raises hopes the Federal Reserve will cut rates later this month. We look ahead to the jobs report for more signs. President Trump doubles down on his call for Ukraine to investigate the Bidens and urges China to look into the former Vice-President too, as the impeachment inquiry gets under way. In tech news, Facebook founder Mark Zuckerberg defends plans to encrypt the company’s messaging system as authorities in the U.S., U.K. and Australia say that the decision will put the public at risk. We are also live in Parma, Italy, to hear from the food industry ahead of a looming tariff tussle between the EU and Washington.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
24:4404/10/2019
SQUAWK BOX, THURSDAY 3RD OCTOBER, 2019
A new front opens…Washington escalates the trade war, this time hitting the EU with tariffs on up to $7.5bn worth of goods. The U.S. plans to impose a 25% levy on a range of European products, including French wine, Italian cheese and Scottish whisky. The moves comes after the WTO ruled against the EU in a 15-year-old dispute judging the bloc’s subsidies to plane makers Airbus and Boeing to be illegal. President Trump hails the win but trade tensions and weaker-than-expected U.S. jobs numbers trigger a global stocks sell-off, causing the weakest day of trade on Wall Street in six weeks. In the U.K., Prime Minister Boris Johnson sets out his final proposal for a Brexit deal, including Irish backstop concessions but the reaction from the EU remains mixed. We are live in Brussels for the latest reactions.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
25:1503/10/2019
SQUAWK BOX, WEDNESDAY 2ND OCTOBER, 2019
An October fright: global stocks see red and the Dow wipes out all of its third-quarter gains on the opening day of Q4 after U.S. manufacturing activity hits a decade-low. In the U.K., Prime Minister Boris Johnson is set to reveal his final Brexit ultimatum to the European Union, ruling out asking for any extension should Brussels turn down his offer. Hong Kong experiences further unrest overnight following the police shooting of a teenaged pro-democracy demonstrator. The violence is some of the worst the Special Administrative Region has seen since anti-Beijing protests erupted 17 weeks ago. And in Silicon Valley, Facebook founder Mark Zuckerberg has panned Democratic presidential hopeful Elizabeth Warren’s plans to break up large tech companies should she reach the White House, saying that he fancies his chances in any subsequent legal battle.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
25:0702/10/2019
SQUAWK BOX, TUESDAY 1ST OCTOBER, 2019
“Reputational damage” – Credit Suisse CEO Tidjane Thiam survives the spying scandal, but the bank’s COO resigns following an internal probe that finds he acted alone in ordering the surveillance of former wealth management chief Iqbal Khan. We report from Zurich as the lender apologises for the affair that has gripped the Swiss banking community. We are also live from Hong Kong and Beijing, where President Xi Jinping pledges peaceful development as China marks the 70th anniversary of the founding of the People’s Republic, while the Special Administrative Region braces for more mass pro-democracy protests. We speak exclusively to the boss of Deutsche Post DHL, as the logistics giant boosts investments despite the economic slowdown in air freight. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
24:0901/10/2019
SQUAWK BOX, MONDAY 30TH SEPTEMBER, 2019
Shares in AB Inbev’s Asia Pacific unit jump in its Hong Kong debut, in the second largest IPO of the year. On the city streets, protests turn violent, as police use tear gas and water cannons against anti-government demonstrators ahead of the 70th anniversary of Chinese communist rule. In the U.S., the whistleblower at the heart of the impeachment inquiry into President Trump is set to testify as early as this week. And in the U.K., with the threat of a no-deal Brexit looming, British Prime Minister Boris Johnson refuses to rule out leaving the EU without a deal, while health secretary Matt Hancock tells CNBC he would prefer an agreement.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
24:3530/09/2019
SQUAWK BOX, FRIDAY 27TH SEPTEMBER, 2019
Capitol Hill remains front and centre. A whistleblower report alleges President Trump abused his power in a call with Ukraine's leader, and that the White House tried to cover it up. We’re live in Kiev as the U.S. president once again denies any wrongdoing, while the House Intelligence Committee chairman says the complaint provides a roadmap of allegations that need to be investigated. China's industrial profits fall in August as the trade war with the U.S. continues to weigh on the economy. But CNBC learns that talks between Beijing and Washington are set to resume on October 10th. Huawei CEO Ren Zhengfei tells CNBC exclusively that the Chinese tech giant hopes to keep doing business with Google, but is biding its time on the U.S. blacklist. And not fit for purpose – shares in Peloton dive in the fitness start-up’s market debut.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
24:1327/09/2019
SQUAWK BOX, THURSDAY 26TH SEPTEMBER, 2019
Noted. The White House releases the transcript of the phone call between President Trump and Ukrainian president Volodomyr Zelensky, which reveal the U.S. president asked for help in investigating Democratic presidential candidate Joe Biden and his son over links to a Ukrainian energy company. We are live with the latest from Kiev as attention turns to the complaint from the whistleblower - expected to be made public today. U.S. stocks jump after Trump hints that a trade deal with Beijing could come sooner than expected while Washington signs a trade deal with Tokyo focused on agriculture, autos and digital. In the U.K., Prime Minister Boris Johnson returns to parliament since the suspension and is met by angry lawmakers demanding his resignation. And the ECB sees a high profile exit, as Sabine Lautenschlager quits from the central bank’s board over its latest easy money measures. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
25:3926/09/2019
SQUAWK BOX, WEDNESDAY 25TH SEPTEMBER, 2019
Impeachment inquiry… U.S. House of Representatives Speaker Nancy Pelosi launches an official probe into President Trump over alleged abuse of power during a phone call with Ukrainian President Volodomyr Zelenskiy, saying “no one is above the rule of law.” The news sends the S&P 500 lower, with the index logging its worst day in a month, and garners a furious reaction from Trump who calls the move “witch hunt garbage”. He also promises to release a transcript of the conversation in which he is accused of seeking dirt on political rival, former U.S. vice-president Joe Biden. In the U.K., opposition leaders call on Boris Johnson to resign after the Supreme Court rules his suspension of parliament is unlawful, prompting the British Prime Minister to cut short his visit to New York. And in corporate news, office rental firm WeWork CEO Adam Neumann resigns in the face of shareholder pressure following his failed attempt to take the company public.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
28:0125/09/2019
SQUAWK BOX, TUESDAY 24TH SEPTEMBER, 2019
A long goodbye… Outgoing ECB President Mario Draghi says the bank is ready to cut rates again ahead of his final meeting next month. His successor, Christine Lagarde, tells CNBC she is concerned that on-going trade tensions between the US and China will hang over economic growth like a ‘big, dark cloud’. We are live in Westminster ahead of the U.K. Supreme Court ruling over Prime Minister Boris Johnson’s decision to prorogue parliament. And in corporate news, brewing giant AB Inbev raises $5bn for its Asian business in what is set to be the second-largest IPO of the year.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
25:1324/09/2019
SQUAWK BOX, MONDAY 23RD SEPTEMBER, 2019
End of an era… UK travel company Thomas Cook collapses, sparking the biggest peacetime repatriation of British citizens in history. We have the latest from the chair of the Civil Aviation Authority. Oil prices surge as the U.S. sends additional troops to the Gulf further heightening tensions with Iran. We hear exclusively from Saudi foreign minister Adel bin Ahmed Al-Jubeir, who calls Tehran’s threats ‘ridiculous and laughable’. Asian stocks fall following shortened U.S.-China trade talks despite the Ministry of Commerce calling the negotiations constructive. And the Bank for International Settlements voices fears about negative interest rates. UBS chairman Axel Weber tells CNBC they are beginning to affect the investor environment.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
25:1623/09/2019
SQUAWK BOX, FRIDAY 20TH SEPTEMBER, 2019
The world’s top money managers and policymakers talk to CNBC at the exclusive Delivering Alpha conference. Vice-President Mike Pence tells CNBC that he hopes for a U.S.-China trade deal to come into fruition, but the days of U.S. economic surrender are over, as deputy-level talks resume in Washington. Hedge fund giants and asset management bosses like Leon Cooperman, Luke Ellis and Mary Callahan Erdoes warn that negative rates are hurting savers, defying the normal rules of economics and calling it the “most absurd thing” central banks have ever done. And in Germany, the government is in intense negotiations to agree on an extensive green investment program potentially worth €40bn. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
28:2720/09/2019
SQUAWK BOX, THURSDAY 19TH SEPTEMBER, 2019
Blurred vision…Federal Reserve President Jerome Powell cuts rates by 25bps for only the second time in a decade. However, the central bank takes a more hawkish stance than markets expected and fails to give clear direction on future policy, revealing increasing divisions on the board. President Trump once again slams the Fed for its opacity and ‘lack of guts’. Over in Japan, the BoJ keeps rates steady but suggests it may provide new stimulus measures next month. Saudi Arabian authorities display debris they say was found at the scene of last weekend’s attacks on Aramco, while on a visit to the kingdom, U.S. Secretary of State Mike Pompeo calls the incidents tantamount to an act of war.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
25:5319/09/2019
SQUAWK BOX, WEDNESDAY 18TH SEPTEMBER, 2019
“Like a phoenix from the ashes” - Saudi energy minister Abdulaziz bin Salman seeks to calm oil markets, saying the kingdom's supply will be fully back online by the end of the month. We are live in Jeddah as crude oil extends its losses on the back of the Saudi government's assurances following the Aramco attacks. U.S. stocks rise ahead of a widely anticipated 25 basis-point cut in interest rates from the FOMC. A CNBC survey shows that more than 90 per cent of market participants expect further easing in December. But hopes of a trade deal between Washington and Beijing have been dealt a blow after President Trump suggested it may have to wait until after next year’s U.S. election. CNBC hears exclusively from House Speaker Nancy Pelosi who says a multi-lateral approach with Beijing would have been preferable. And we report from Israel, where there is no clear winner in the nation’s second election in five months.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
24:5318/09/2019
SQUAWK BOX, TUESDAY 17TH SEPTEMBER, 2019
The Saudi strikes lead to an oil shock for the global economy. Crude prices trim gains after Brent has its best day on record following the attacks on Saudi Aramco's facilities. President Trump says Iran looks to be the likely culprit but plays down the prospect of armed conflict, saying he is in no rush to respond. He also hinted that the move in energy assets is reason enough for the Federal Reserve to cut rates. The geopolitical risk weighs on Asian stocks, but there is a ray of hope for U.S.-China trade talks as Washington and Beijing confirm that deputy-level negotiations are set to resume later this week. In Europe, however, Brexit talks remain in deadlock following U.K. Prime Minister’s visit to Luxembourg while the Supreme Court in London is set to hear whether his proroguing of parliament is indeed lawful.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
26:0317/09/2019
SQUAWK BOX, MONDAY 16TH SEPTEMBER, 2019
Strike on Saudi Arabia… Crude prices surge after attacks shut down two of Saudi Arabia’s largest energy facilities, slashing the kingdom’s output by half. Washington blames Iran for the incident but Tehran has denied any involvement. President Trump tweets the U.S. is ‘locked and loaded’ depending on the verification of the culprit, while also authorising the release of American petroleum reserves. We are live in Riyadh for the latest. Chinese industrial output growth slows to a 17-year low in August amid further signs that the trade war with Washington is hurting China’s economy. We are also live in Luxembourg ahead of U.K. Prime Minister Boris Johnson’s meeting with outgoing European Commission President Jean-Claude Juncker.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
24:5916/09/2019
SQUAWK BOX, FRIDAY 13TH SEPTEMBER, 2019
Draghi delivers…global stocks move into the green with the Dow hitting a record high after outgoing ECB President Mario Draghi offers the euro zone a sweeping stimulus package featuring a rate cut and a new bond-buying programme. EU commissioner Valdis Dombrovskis responds to Draghi’s call for fiscal action, telling CNBC it will be discussed by European finance ministers in Helsinki. Investors will now turn their attention to the Federal Reserve’s rate decision next week. Asian stocks receive a boost as President Trump delays tariffs on Chinese goods and hints at a possible interim trade agreement with Beijing. In Abu Dhabi, OPEC ministers demand that members accelerate agreed oil production cuts while Russian energy minister Alexander Novak tells CNBC exclusively that President Trump’s market-moving tweets ultimately have zero-impact on his forecasting considerations.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
26:5513/09/2019
SQUAWK BOX, THURSDAY 12TH SEPTEMBER, 2019
A gesture of goodwill…Asian equities are in the green after President Trump decides to delay tariffs on $250bn of Chinese goods as the People’s Republic celebrates its 70th anniversary. Beijing responds in kind by waiving levies on several American products. But the real action is in Frankfurt, where Mario Draghi is expected to fire his big parting shot. The ECB is widely expect to cut the deposit rate, revive quantitative easing and add a number of other easing measures to offset the slowdown in the euro zone. The Hong Kong Exchange launches a $37bn takeover bid for the London Stock Exchange but political concerns could still derail it. The former CEO of the LSE tells CNBC that the proposal is an ‘aggressive move’ that will attract close scrutiny from shareholders. And we are live at the Opec+ meeting in Abu Dhabi where the group is meeting to discuss oversupply concerns following its cut to the 2019 oil demand outlook.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
26:2212/09/2019
SQUAWK BOX, WEDNESDAY 11TH SEPTEMBER, 2019
The highly-charged ECB watch begins. Asian equity markets and bond yields rise with investors focused on what Mario Draghi will deliver in his final rate-setting meeting before leaving the presidency in Frankfurt. Expectations are high with analysts forecasting more QE, a cut to the deposit rate, tiering, fresh TLTRO loans and dovish forward guidance.Apple unveils its latest smartphone incarnation, the 11, while also slashing costs for its TV service, stirring up a streaming battle. President Trump fires his hawkish national security adviser John Bolton, sending oil prices lower, as investors cut bets on escalating tensions with Iran. In Brussels, incoming European Commission President Ursula von der Leyen has unveiled a new team of commissioners while in the U.K., Prime Minister Boris Johnson has vowed he will continue to work for a Brexit deal as parliament begins its five-week suspension.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
25:2511/09/2019
SQUAWK BOX, TUESDAY 10TH SEPTEMBER, 2019
Swings and roundabouts… easing trade tensions help drive the Dow to a four-day winning streak but Chinese markets tick lower following last month’s producer data marking its steepest decline in three years. In Berlin, rumours of a shadow budget to circumvent national spending laws push Bund yields to a one-month high. In Brexit news, we hear exclusively from Irish finance minister Paschal Donohoe, who doubts much progress can be made in breaking the backstop impasse. Meanwhile, Prime Minister Boris Johnson loses a second vote to call a snap election as parliament is prorogued but he is adamant he will not ask Brussels for a withdrawal extension. We are also live at the Frankfurt Motor Show where Volkswagen CEO Herbert Diess tells CNBC that the U.S.- China trade war is being felt throughout the automotive industry.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
25:0310/09/2019
SQUAWK BOX, MONDAY 9TH SEPTEMBER, 2019
Brexit bedlam…Prime Minister Boris Johnson suffers another cabinet resignation over his government’s no-deal stance but Brexit secretary Stephen Barclay tells CNBC exclusively that efforts to secure a deal with the EU are in progress. Asian stocks rally on the news that Beijing is stimulating the Chinese economy with a RRR-cut as export figures prove the trade war with Washington is beginning to bite. We are live at the World Energy Congress Forum in Abu Dhabi where U.S. Treasury official Sigal Mandelker exclusively tells this channel that the U.S. is finally making inroads into curbing illicit shipping in the Gulf. And Hong Kong suffers its 14th consecutive weekend of unrest with pro-democracy demonstrations showing no signs of abating despite the Legislative Council scrapping a controversial extradition deal.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
24:5109/09/2019
SQUAWK BOX, FRIDAY 6TH SEPTEMBER, 2019
It’s good to talk…the U.S. and China agree to resume trade negotiations, prompting the Dow to surge by more than 350 points – its best day in three weeks. The news also sparks hope across Asian markets ahead of U.S. jobs reports but Fitch downgrades the Hang Seng after months of violence across the Hong Kong Special Administrative Region. We are live in Westminster for the latest on Brexit where Prime Minister Boris Johnson is set to ratchet up his demands for an early election. In Rome, the new PD-Five Star coalition government is sworn in, but the challenge of delivering a budget to Brussels this autumn still lies ahead. We are live at the Ambrosetti Forum on the banks of Lake Como with in-depth analysis.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
26:5806/09/2019
SQUAWK BOX, THURSDAY 5TH SEPTEMBER, 2019
Boris blocked. Conservative Party rebels and opposition lawmakers deliver U.K. Prime Minister Johnson a double defeat in the House of Commons, taking a no-deal Brexit off the table and also refusing to allow him to call a snap general election. We are live from Westminster with the latest. In Asia, markets rally on confirmation from the Chinese commerce ministry that trade talks between Washington and Beijing are set to resume in October. The Hang Seng enjoys extended gains following Hong Kong Chief Executive Carrie Lam's withdrawal of the controversial extradition bill, which is hoped will stem the violent protests in the Special Administrative Region. Over in the U.S., two-year treasuries slump to their lowest point since 2017, while we hear exclusively from Goldman Sachs CFO Stephen Scherr who says anxieties over a recession are becoming increasingly apparent.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
24:2705/09/2019
SQUAWK BOX, WEDNESDAY 4TH SEPTEMBER, 2019
Chaos in the Commons. Conservative Party rebels aid opposition lawmakers to defeat the U.K. government in a vote to block a no-deal Brexit in October but a defiant Prime Minister Boris Johnson says he’ll seek an early election should he lose today’s vote on the bill. We are live in Westminster for the latest. In the U.S., markets close in the red after the first day of trading following the Labor Day weekend with manufacturing numbers shrinking for the first time in three years. It's a mixed session in Asia as the private Caixin survey reveals China's services activity hit a 3-month high in August. Plus, we speak exclusively with Lebanese Prime Minister Saad Hariri who tells CNBC he fears a war amid rising tensions between the U.S. and Iran. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
25:0804/09/2019
SQUAWK BOX, TUESDAY 3RD SEPTEMBER 2019
U.K. Prime Minister Boris Johnson lays down the gauntlet to his Brexit opponents, asking them to back the government or risk a snap general election in October if they block a no-deal Brexit in Parliament later today. We are live from Westminster as Sterling hovers around levels not seen in two-and-a-half years. Beijing launches a formal complaint against the U.S. at the WTO over its latest round of tariffs which now effect up to $300bn of Chinese goods. The south-eastern United States braces for Hurricane Dorian to make landfall after the slow-moving mega-storm killed 5 people and destroyed 13,000 homes in the Bahamas. And, we are live in Beirut where the Lebanese government is preparing to declare an economic state of emergency amid simmering tensions between Hezbollah and Israel.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
27:0103/09/2019
SQUAWK BOX, MONDAY 2ND SEPTEMBER 2019
A new phase in the trade war. Washington slaps a fresh 15 per cent levy onto a range of Chinese goods while Beijing retaliates by imposing a 5 per cent tariff on U.S. crude oil. President Trump, however, is upbeat about talks later this month. Hong Kong sees a 13th consecutive weekend of pro-democracy protests with many turning violent. Demonstrators clashed with police, blocking roads and disrupting airport transport links. In Italy, designated Prime Minister Giuseppe Conte voices confidence over upcoming coalition talks but Five Star leader Luigi Di Maio sounds a more lukewarm tone, telling CNBC exclusively that his party will only enter a new government if its demands are met. And in the UK, Prime Minister Boris Johnson threatens Conservative MPs with deselection if they choose to side with opposition lawmakers in an attempt to thwart his Brexit plans.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
25:1902/09/2019
SQUAWK BOX, FRIDAY 30TH AUGUST, 2019
It’s the end of the month with stocks finishing in the green amid signs that U.S.-China trade tensions have cooled somewhat. This, despite fresh tariffs on Chinese goods coming into effect on 1st September. We are live in Rome where former Prime Minister and PD leader Matteo Renzi tells CNBC exclusively that he refuses to play a part in the new coalition government because of personal issues with Five Star but he urges international investors to bring their business to Italy. In the U.K., Prime Minister Boris Johnson says that he will ‘step up the tempo’ on EU withdrawal talks but he’ll face stiff opposition in parliament next week as lawmakers attempt to block a no-deal Brexit. And in Asia, Hong Kong braces for a 13th consecutive weekend of protests following the arrests of several prominent pro-democracy activists.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
25:2830/08/2019
SQUAWK BOX, THURSDAY 29TH AUGUST, 2019
There are extraordinary political developments afoot across Europe. The pound slides on news that the Queen approves Prime Minister Boris Johnson’s request to prorogue parliament for up to five weeks, greatly increasing the chance of a no-deal Brexit. The move leaves opposition parties and Remain supporters outraged with critics slamming the PM’s actions as anti-democratic. However, Johnson remains unfazed, saying that there will be ample time to debate Brexit before the October 31st deadline for EU withdrawal. Over in Italy, an end to the political stand-off is in sight, for now, with the PD and Five Star on track to lead a coalition government. Giuseppe Conte is expected to be reappointed as prime minister. Across the pond, energy stocks outperformed to leave markets in the green. The Dow Jones moves more than 250 points in a volatile session but investor sentiment is ultimately kept in check by further falls in the bond yield.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
26:4529/08/2019
SQUAWK BOX, WEDNESDAY 28TH AUGUST, 2019
Tumbling yields weigh on U.S. markets with all three major indices finishing in the red and set to break a two-month winning streak. Recession fears remain with the 10-year yield versus the two-year rate dropping to its lowest level since before the financial crisis. In Rome, the 10-year yield falls to a new three-year low off the back of constructive coalition talks between PD and Five Star. There are, however, concerns that the country could still hold autumn elections if a government isn’t formed by the end of the day. And in corporate news, BP decides to call it a day in Alaska, shedding its assets in the U.S. state for $5.6bn in a bid to increase its balance sheet.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
24:3428/08/2019
SQUAWK BOX, TUESDAY 27TH AUGUST, 2019
Global markets surge on fresh hopes of a resolution in the trade dispute between Washington and Beijing after President Trump says that China is ready to agree a deal, backing up his tough style of negotiation. We are live at the G7 in Biarritz, France where host President Emmanuel Macron has said he was willing to broker a pact between the U.S. and Iran over nuclear tensions following suggestions from both President Trump and President Hassan Rouhani that they were ready to talk. And in Italy, the Partito Democratico and Five Star inch towards forming a government as Prime Minister Giuseppe Conte meets with party heads. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
24:5927/08/2019
SQUAWK BOX, MONDAY 26TH AUGUST, 2019
Markets dive first thing this morning as China ups the ante in the trade dispute with Washington, slapping tariffs onto $75bn worth of U.S. goods. President Trump has hit straight back, however, demanding that American manufacturers seek out alternatives to Chinese markets but he left observers confused by comments hinting that he may have regretted escalating the trade war. We are live at the G7 in Biarritz, France, for the latest. Investors looking for a safe haven have pushed gold prices up to a six-year high but oil prices fall on the back of recession fears. And Hong Kong is again rocked by violence for the 12th consecutive week with police drawing weapons and firing water cannons at pro-democracy protestors.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
27:1426/08/2019
SQUAWK BOX, FRIDAY 23RD AUGUST, 2019
It’s all about the Fed. Investors around the world are on tenterhooks as they await a speech from Federal Reserve chairman Jerome Powell at the Jackson Hole symposium, which could send strong signals on the outlook for U.S. monetary policy. Two Fed presidents tell CNBC that they don’t see a case for further interest rate cuts in 2019. This side of the Atlantic, sterling enjoys its best day in almost 3 months following German chancellor Angela Merkel’s positive comments on finding an Irish backstop Brexit solution. However, French president Emmanuel Macron stands firm saying that the mechanism is indispensable to the withdrawal agreement. Italian President Sergio Mattarella gives political parties five days to ink a coalition deal, as the PD sets red lines for a partnership with Five-Star, raising the prospect of snap elections.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
25:4023/08/2019
SQUAWK BOX, THURSDAY 22ND AUGUST, 2019
Divisions within the Federal Reserve are exposed in the latest minutes, as policy-makers suggest that July’s rate cut does not signal a pre-set easing cycle. The central bank cites the trade tensions with China as a ‘persistent headwind to growth’. Meanwhile, the U.S. yield curve inverts once more on nagging recession concerns but President Donald Trump deflects attention to Germany, hailing its negative yields despite the first 30-year zero-income bund auction receiving scant interest. German Chancellor Angela Merkel hosts new U.K. prime minister Boris Johnson and lays down a 30-day challenge to him to resolve the Irish backstop conundrum. France’s President Emmanuel Macron, who Johnson visits today, says blame for a no-deal Brexit will be laid squarely at Britain’s door. And in Italy, President Sergio Mattarella has begun party talks to form a new governing coalition. The opposition PD party is attempting to woo Five Star into an alliance, albeit with stringent conditions. The potential for fresh elections looms large. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
25:0222/08/2019
SQUAWK BOX, WEDNESDAY 21ST AUGUST, 2019
Instability in Italy. We’re live in Rome where Prime Minister Giuseppe Conte resigns with a scathing attack on interior minister Matteo Salvini whom he accuses of political opportunism. We discuss the next steps to form a new government with an Italian senator and assess the bond market reaction, as investors take a sanguine view on the crisis. Over in the U.S., the Dow breaks its 3-day streak after President Trump shows no signs of backing down in his trade war with China. Trump also takes aim at the EU, saying he can get anything he wants from the bloc by threatening its car sector. British Prime Minister Boris Johnson has his request to drop the backstop roundly rejected by Brussels as he sets out to meet German chancellor Angela Merkel and French president Emmanuel Macron this week.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
25:2621/08/2019
SQUAWK BOX, TUESDAY 20TH AUGUST, 2019
The Wall Street rebound is on. U.S. stocks nearly wipe out all of last week's major losses, with the Dow managing to reach an intra-day high just 5 per cent below its all-time record. In Asia, stocks edge higher as the PBOC sets its new lending reference slightly lower on its first day and Washington grants Huawei a 90-day extension of its sales permit but simultaneously adds more affiliate companies to its blacklist. Facebook and Twitter move to block accounts they say are being used in pro-Beijing propaganda aimed at stymieing the Hong Kong pro-democracy protests. Chery Kang reports from the territory as chief executive Carrie Lam says she hopes the peaceful rallies over the weekend mark a turning point for the city. And we’re on crisis-watch in Rome, where Italian Prime Minister Giuseppe Conte is due to address the Senate and a no-confidence vote could bring down the coalition government.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
24:5020/08/2019
SQUAWK BOX, MONDAY 19TH AUGUST, 2019
Wall Street gears up for more volatility after U.S. stocks close in the green but log their third negative week in a row, while the Trump administration seeks to calm recession fears, with top economic adviser Larry Kudlow saying he doesn’t see a major downturn on the horizon. In China, stocks surge following the PBOC’s announcement of business interest rate reforms. Investors also bet on fiscal stimulus out of Berlin as finance minister Olaf Scholz says Germany is ready to use the ‘full force’ of a €50bn stimulus package in the event of an economic crisis. And Hong Kong sees its 11th straight weekend of pro-democracy protests with a reported 1.7 million people turning out for a peaceful rally on Sunday.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
24:1619/08/2019
SQUAWK BOX, FRIDAY 16TH AUGUST, 2019
The Dow Jones bounces back after its worst day of 2019 as Washington and Beijing soften their rhetoric in the trade war. Asian equities see green as fresh data shows that Japan has overtaken China in holding U.S. Treasuries. In Europe, euro zone bond yields sink to new lows after ECB board member Olli Rehn says the central bank is preparing a stimulus package for September. And the founder of the world’s largest hedge fund, Ray Dalio, tells CNBC there is a 40 per cent chance that the U.S. will fall into recession ahead of the 2020 presidential election.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
25:3316/08/2019
SQUAWK BOX, THURSDAY 15TH AUGUST, 2019
The Dow suffers its worst day of the year, plunging 800 point in its fourth worst point drop in history. Investors are spooked after the US 2-10 yield curve inverts, sparking concerns a recession is on the way. President Trump takes aim at Jerome Powell, slamming the Fed for growing fears of a US slowdown, while the 30-year treasury yield falls to a new record low. Furthermore, the US President links protests in Hong Kong with the China trade tensions, and suggests a personal meeting with President Xi Jinping over the political crisis. In Asia, stock join the global sell-off. Recession fears also roil Asian bond markets, with the yield on Japan’s 10-year JGB falling to its lowest level in 3 years. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
24:5615/08/2019
SQUAWK BOX, WEDNESDAY 14TH AUGUST, 2019
The Trump administration seems to be the first to blink in the trade war, delaying tariffs against key Chinese imports including laptops, cellphones and clothing. The move sends Asian equities into the green after a rally on Wall Street, led by Apple shares which jumped 4 percent in its best day since May. In Hong Kong, the city’s airport re-opens despite another night of protests and more clashes with police. In Italy, the senate shoots down deputy leader Matteo Salvini’s push for a swift no-confidence vote, dealing a blow to the Lega leader’s drive to force a snap election.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
22:1914/08/2019
SQUAWK BOX, TUESDAY 13TH AUGUST, 2019
In a volatile day for U.S. markets, the Dow drops nearly 400 points to close below 26,000. Global bond yields resume their decline sending a warning signal to investors of a possible recession. In Asia, the Hang Seng leads losses as Hong Kong protests add to the turmoil. Chief Executive Carrie Lam warns the city is on a path of no return as airport demonstrations extend into a fifth day causing airport shutdown. In Italy, the Italian senate is called back from their summer break to slate a no-confidence vote in the coalition government, as 5-star leader Luigi Di Maio accuses Lega's Matteo Salvini of "stabbing Italy in the back." And finally in Argentina, investment-friendly President Mauricio Macri experiences a re-election setback, sending Argentine assets into decline.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
24:3113/08/2019
SQUAWK BOX, MONDAY 12TH AUGUST, 2019
After a rocky week for Wall Street, Asian equities start the week cautiously higher as Goldman Sachs warns the trade war is raising the prospect of a U.S. recession. Meanwhile, China sets its yuan fix at weaker than 7 for the third straight day. In Italy, deputy Prime Minister Matteo Salvini denies reports he wants to withdraw the country from the euro area as he intensifies his call for a snap election. In corporate news, Sandvik CEO Bjorn Rosengren will assume the top job at engineering giant ABB, taking over from acting CEO Peter Voser in March. And finally, as US President Trump struggles to seal a deal for a 20 member global coalition to protect maritime shipping lanes, we take you aboard aircraft carrier USS Abraham Lincoln as the fleet looks to defend the Strait of Hormuz.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
22:0312/08/2019
SQUAWK BOX, FRIDAY 9TH AUGUST, 2019
The U.S. market recovery continues with stocks jumping and bond yields rebounding, as the S&P 500 sits in positive territory at the end of a choppy week of trade. The picture is far more mixed in Asia with Chinese food inflation rising and the PBOC setting a higher-than-expected yuan mid-point, despite its record low level. In Italy, the government is teetering on the edge as Matteo Salvini pulls the plug on the fragile coalition with Five Star and calls for fresh elections in the autumn. Prime minister Giuseppe Conte, struggling to contain his anger, demands that the interior minister explains his move to voters. And in corporate news, Uber shares plunge in after-hours trade with the ride-hailing giant posts its biggest loss ever - more than 5 billion dollars in the second quarter.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
25:3309/08/2019
SQUAWK BOX, THURSDAY 8TH AUGUST, 2019
Another day of wild market gyrations. Better-than-expected Chinese trade numbers drive Asian markets higher despite a drop in U.S. imports. China's central bank sets the yuan mid-point weaker than the key 7-per-dollar level for the first time since 2008. Over on Wall Street the Dow plunges by almost 600 points before clawing back most of the losses while the S&P 500 posts its biggest comeback in 18 months. Global bond yields fall as the flight to safety accelerates with the yield on the U.S. 10-year note touching its lowest level since October 2016. News that Saudi Arabia is collaborating with producers to arrest the price slide sees oil rallying following a near-5 per cent drop. And the earnings season continues with numbers due from Deutsche Telekom, ThyssenKrupp, Adidas and Zurich Insurance.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
24:5708/08/2019
SQUAWK BOX, WEDNESDAY 7TH AUGUST, 2019
Wall Street recovers. The Dow jumps 300 points, rebounding from U.S. stocks’ worst day of 2019. The picture in Asia, however, is more mixed with China setting the yuan fix at a weaker-than-expected level. President Trump’s team has played down concerns over an entrenched trade war, with National Economic Council director Larry Kudlow telling CNBC he would like to continue negotiations. The New Zealand central bank shocks the market with a half-point rate cut. And banks dominate the earnings releases in Europe with Commerzbank warning its full-year income has become significantly more ambitious. The low-rate environment forces Unicredit to cut its full-year guidance. Finally, we speak to the CFO of retail giant Ahold Delhaize who tells the show he does not see a big impact from tariffs.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
24:5307/08/2019
SQUAWK BOX, TUESDAY 6TH AUGUST, 2019
Markets in turmoil. Squawk Box anchors dissect all the dramatic action across asset classes. Wall Street logs its worst day of 2019 with the Dow plunging more than 750 points, as Washington labels Beijing a currency manipulator. Apple bears the brunt of the sell-off, having the most negative impact on the major indices. Asian equities remain very much in the red following the Chinese government’s decision to suspend purchases of American agricultural produce. However, U.S. futures recover after the PBOC eases some concerns, with Beijing setting the mid-point fix of the yuan at a stronger-than-expected level. Anxiety also moderates in safe havens, with gold coming off a fresh six-year high.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
24:5706/08/2019
SQUAWK BOX, MONDAY 5TH AUGUST, 2019
Asian stock markets plummet to six-month lows following the S&P 500’s worst week of the year. The latest trade tensions between the U.S. and China prompt investors to opt for safe havens. The yuan slides to its lowest level in more than a decade falling past 7 per dollar, with the Chinese central bank blaming ‘trade protectionist’ and ‘unilateral’ moves by the U.S. Hong Kong braces itself for more chaos and the Hang Seng slumps after pro-democracy protestors threaten to paralyse the territory with a general strike. And in corporate news, HSBC announces the surprise departure of CEO John Flint after only 18 months in the job.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
24:5005/08/2019
SQUAWK BOX, FRIDAY 2ND AUGUST, 2019
The trade truce is off and has sent markets reeling. Squawk Box anchors digest the massive moves across asset classes after U.S. President Donald Trump loses patience with a lack of progress on trade talks with Beijing and slaps 10 per cent onto $300bn of Chinese goods. The Dow falls nearly 300 points and Asian equities follow Wall Street into the red as Chinese state media insists Trump’s move will backfire. The sudden increase in trade tensions also impacts bond yields with the U.S. ten-year slumping to its lowest level since 2016. And oil claws back some ground after falling 8 per cent amid renewed fears of a global economic slowdown. Elsewhere, U.K. Prime minister Boris Johnson’s majority in the House of Commons shrinks following a by-election in Wales. On the corporate front, we break earnings from Credit Agricole and Allianz.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
25:1402/08/2019
SQUAWK BOX, THURSDAY 1ST AUGUST, 2019
Will it be 'one and done'? U.S. stocks drop sharply as the Federal Reserve cuts rates by a quarter point for the first time since 2008. However, Chairman Jerome Powell suggests that this may not be the start of more easing to come, calling it a ‘mid-cycle’ move. The dollar jumps and the yield curve flattens on the news, but President Trump voices his disapproval of the decision. Bank earnings are also in focus. Standard Chartered beats H1 profits estimates but warns of trade tensions and lower interest rates on the horizon, while Societe Generale’s second-quarter net profit is hit by restructuring costs. Elsewhere on the corporate front, Siemens warns of weakness in some of its key markets, after third-quarter profits fall, missing expectations.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
23:0501/08/2019
SQUAWK BOX, WEDNESDAY 31ST JULY, 2019
This hasn't happened in more than a decade. Squawk Box anchors preview today’s blockbuster U.S. Federal Reserve decision with the central bank poised to cut rates for the first time since the financial crisis. Apple shares jump in after-hours trade as the tech giant beats expectations and returns to growth in the third quarter, but iPhone sales miss estimates. It’s also a big earnings day in Europe with banks front and centre. Credit Suisse sees second-quarter net profit jump 45 per cent amid high levels of client engagement. French rival BNP Paribas also posts forecast-beating numbers due to a strong performance in its corporate and investment banking arms.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
24:4531/07/2019
SQUAWK BOX, TUESDAY 30TH JULY, 2019
The focus today is on central banks with the Bank of Japan holding rates steady but markets anticipating a 25-basis point cut from the U.S. Federal Reserve. President Trump, however, insists that ‘a small cut is not enough’. Asian stocks move higher as trade talks between Washington and Beijing resume in Shanghai and earnings are expected from Chinese tech giant Huawei. Sterling plunges to a 28-month low as Prime Minister Boris Johnson angles the U.K. to a no-deal Brexit saying that the withdrawal agreement negotiated by former PM Theresa May is now dead in the water. Also, in corporate news, meat substitute company Beyond Meat sees its shares fall in after-hours trading on plans to sell more shares. Its sales however, have increased three-fold in the second quarter. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
25:1630/07/2019