Apple beats on the top and bottom line in Q1 but weakness in China weighs and executives warn of falling iPhone sales. Meta sees its market cap balloon by $140bn after shares soared in after-hours trading following strong quarterly results. The tech giant also unveiled its inaugural dividend payout. Amazon posts record Q4 operating income following cost-cutting measures. Its cloud service AWS grew revenue by 13 per cent. BoE Governor Andrew Bailey suggests that markets could be correct in predicting the rate cut timeline after the central bank kept rates steady in the first three-way split since 2008. And in the U.S., the Dow enjoys its best week since mid-December as investors anticipate today’s non-farm payroll data.  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 dampens investor hopes of a much-anticipated rate cut in March with the S&P 500 suffering its worst session since September. French lender BNP Paribas disappoints, posting a Q4 profit of just over €1bn on higher provisions. The bank also pares back its profitability targets. In retail, Adidas predicts profits will almost double in 2024 to €500m following the sportswear titan’s controversial split with rapper Kanye West. And we hear from a slew of European CEOs today with Q4 corporate earnings in full swing.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Disappointing advertising revenues push Alphabet shares into the red in extended trade despite the tech giant posting its fastest quarter for revenue growth since early 2022. Microsoft beats on the top and bottom line, enjoying its highest profit growth in more than two years but guidance for the current quarter is lukewarm. In the U.S., a Delaware judge rules against Tesla CEO Elon Musk’s $56bn pay package calling it ‘deeply flawed’, arguing that the board of directors had failed to prove it was fair. Shares in the EV maker slid around 3 per cent in extended trade. Chinese factory activity suffers its fourth straight month of contraction but the IMF’s Chief Economist Pierre-Olivier Gourinchas tells CNBC the country is exhibiting some signs of resilience.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Both the Dow and S&P 500 notch their sixth record session for the year as the U.S. Treasury slashes its Q1 borrowing guidance. Investors Stateside are now anticipating mega-cap tech earnings. In Hong Kong, tech and property firms drag stocks lower. Asian indices bar Japan are set to now break a two-month winning run. Car giant Renault cancels plans to list its EV unit due to poor market conditions and slowing uptake throughout Europe. Gambling giant Flutter debuts on the NYSE and now plans to make Wall Street its home in what appears to be yet another blow to the LSE.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Asia markets are in the green following a record close for the Dow on the back of personal consumption expenditure falling below 3 per cent for the first time in almost three years. Share of Chinese property giant Evergrande are stopped from trading after a the Hong Kong High Court orders the liquidation of the developer. Swiss building materials firm Holcim is to spin off and list its North American arm on Wall Street with a target valuation pf $30bn.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

French luxury giant LVMH smashes expectations to post almost $24bn in Q4 sales on rebounding Chinese demand. CEO Bernard Arnault has urged the need to focus on quality over quantity. On Wall Street the S&P 500 hits a record high to close in the green for a fifth consecutive session while the Dow also scores a new record peak on the back of stronger-than-expected economic growth Stateside. Tesla shares sink the most in a year with the EV maker seeing $80bn wiped off its valuation as demand weakens. And in tech news, Intel also sees a fall in its share price in extended trade as poor demand for data centre chips affect Q1 guidance. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Tesla earnings disappoint, sliding by 40 per cent in Q4. The EV maker has warned of weaker sales throughout 2024. Meanwhile, streaming giant Netflix sees shares hit double digits, helping the Nasdaq along with 34 points as new subscribers topped 13 million for the quarter. In aviation news, the FAA has limited production of Boeing 737 Max 9 jets but has approved existing craft for service with the first planes expected to fly from tomorrow. And we are counting down to the ECB’s first rate decision of 2024 where investors expect a ‘hold’ and more guidance on the future path of cuts.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Netflix shares are up in extended trade as the streaming giant boosts subscriber numbers and revenue beats expectations. The company has also inked a $5bn deal to stream live WWE. Former U.S. President Donald Trump secures victory in the New Hampshire primary over Nikki Haley who has refused to bow out of the race to become GOP presidential nominee. The contest will now move to Haley’s home state of South Carolina in late February. German software titan SAP announces a €2bn streamlining project which could affect up to 8,000 jobs in order to focus more directly on A.I. ambitions. In Ankara, the Turkish parliament finally ratifies Sweden’s NATO membership bid with Hungary’s approval now the remaining obstacle.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Dow hits a record 38,000 points for the first time as major U.S. indices finish in the green for a second consecutive session ahead of a number of corporate earnings this week. The Nikkei follows suit in Japan – its highest level since 1990 - after the BoJ maintains its ultra-loose monetary policy. It has, however, cut its FY 2024 guidance. Israel has offered a two-month ceasefire with Hamas in Gaza in exchange for the release of 130 hostages. Hamas has demanded a full Israeli withdrawal from the Strip. And in Hong Kong, shares are surging after Chinese authorities consider a trillion-yuan rescue package for the country’s declining stock market.    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 are in the green with the S&P 500 surging to a new record high on the back of positive consumer data. In U.S. politics, Florida governor Ron DeSantis bows out of the race to become the GOP presidential candidate two days before the New Hampshire primary, endorsing former president Donald Trump. Former UN ambassador Nikki Haley is now Trump’s sole challenger for the nomination. United Airlines cancels all flights using Boeing’s troubled 737 Max 9 model. Meanwhile, the FAA has urged all carriers to carry out door plug checks on yet another Boeing model – the 900ER. And in Europe, cities across Germany see a second week of mass protest against an AfD ‘re-migration’ policy.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 Davos where Ukrainian foreign minister Dmytro Kuleba tells CNBC he feels reassured by the Biden administration’s commitment to military aid for his country and that the tone of discussions remains constant. U.S. jobless claims hit a 16-month low while U.S. Tech stocks fuel a rebound on Wall Street. The Dow and the S&P 500, however, are set for their second negative week in three. In the Red Sea, Houthi rebels hit a U.S. owned commercial vessel just hours after President Joe Boden talks down the effectiveness of strikes on Yemen. KSA finance minister Mohammed Al-Jadaan tells this channel his country is desperate to de-escalate tensions in the region. Former BoE governor Mark Carney claims that whatever the result of the U.S. elections this November, the President will be faced with a rapidly transforming energy and intelligence scenario. In Washington, U.S. lawmakers manage to avert a partial government shutdown until March passing a stop-gap bill. And in M&A news, online community site Reddit is reportedly eyeing an IPO in early March, putting up to 10 per cent of its stock for sale.   See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

European equities react negatively following hawkish comments from ECB President Christine Lagarde who warns not to expect interest rate cuts until the summer. In Davos we hear from outgoing Dutch Prime Minister Mark Rutte who says centrist parties in Europe must be clearer on tough issues in the face of populist party challenges. We also speak to UK Shadow Chancellor Rachel Reeves who is positioning Labour as a pro-business party, with no plans to increase income tax. French President Emmanuel Macron issues a rallying cry for the EU project but bemoans the bloc’s fragmentation. Tech giant Apple will remove a blood oxygen feature from Apple watches after an appeals court reinstates a U.S. sales ban following an I.P. dispute with med-tech firm Masimo.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

China manages to attain its FY GDP targets, however its weak property sector and a fourth quarter miss drags on Asian equities. In Davos, we hear from Polish President Andrzej Duda who says he is not surprised that Ukraine refuses face-to-face talks with Moscow and warns military spending must increase in order to ward off Russian aggression in Europe. The U.S. launches fresh strikes on Houthi rebels in Yemen while the Iranian foreign minister tells CNBC that America is the root cause of the current tensions in the Middle East and Red Sea. Google CEO Ruth Porat says A.I. is the ‘great equaliser’, with the potential to help both the developed and developing world in areas of healthcare and food security. The U.S. 10-year Treasury yield tops 4 per cent after the Fed’s Christopher Waller calls for a more cautious approach to rate cuts later this year.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Former U.S. President Donald Trump wins a resounding victory in the Iowa caucus, solidifying his position as the GOP presidential frontrunner. Florida governor Ron DeSantis pips Nikki Haley to second place while Vivek Ramaswamy bows out of the race. We are live in Davos at the World Economic Forum where ECB board member Robert Holzmann tells CNBC exclusively that the central bank may not cut interest rates at all this year. Holzmann warned those expecting cuts may be ‘deeply disappointed’. Meanwhile, IMF managing director Kristalina Georgieva says she expects a soft landing for the global economy but that central banks are still exposed to risk this year. In the Gulf of Aden, Houthi rebels hit a U.S. owned commercial ship following last week’s U.S. and UK airstrikes. And in Hong Kong, the Hang Seng leads declines while the Dow is likely to open 100 points lower following the MLK Day long weekend.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Taiwan’s incumbent Democratic Progressive Party win a historic third term in office with incoming president Lai Ching-te resisting pressure for reunification with China. The Nikkei rallies to breach 36,000 points for the first time in almost 34 years while Wall Street posts its tenth week in the green out of eleven. U.S. banks kick off earnings season. JPMorgan and Bank of America both see a drop in profits while Citi also posts losses for the quarter. Former U.S. president Donald Trump leads GOP rival Nikki Haley by 28 points in the final NBC poll ahead of today’s Iowa caucus. And we are live in Davos, Switzerland where Ukraine peace talks have ended with scant progress, with the Russian contingent once again absent. We hear from the Ukrainian president’s chief of staff, Andriy Yermak, who says the current administration will never accept a frozen conflict.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Crude prices surge following U.S. and UK strikes on Houthis targets in western Yemen in response to continued attacks on commercial vessels in the Red Sea. In the U.S., CPI data comes in higher than expected. The Dow reaches a new intra-day high before closing the session flat. Chinese export data is up by more than expected for December but deflationary pressures persist with consumer prices falling for their longest streak since 2009. Airbus maintains its lead over Boeing for the fifth straight year. CEO Christian Scherer hails the ‘remarkable’ demand for its planes. And we are live in Taipei ahead of Saturday’s presidential election which is seen as pivotal in shaping Chinese-Western relations.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

It’s a monumental day for crypto with the SEC finally approving spot Bitcoin ETFs. Up to 11 funds are due to start trading as soon as today. Speaking to CNBC, Ark Invest President Tom Staudt says the asset class will now have a far greater reach among investors. U.S. markets are in the green with the Dow recording its fourth positive session in five ahead of today’s inflation data. Asian equities ride the green wave with Hong Kong’s Hang Seng leading the charge. The Nikkei 225 breaches the 35,000 level for the first time since 1990. In aviation news, Alaska Airlines and United cancel further flights following last week’s 737 Max 9 blow-out incident. Boeing CEO Dave Calhoun tells our colleagues stateside that the investigation will be pivotal.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Dow snaps a three-day winning streak despite chip maker Nvidia hitting a new all-time record. In Asia, Japan’s Nikkei 225 breaches the 34,000-point mark for the first time in 34 years. The SEC deletes a post on X which claimed crypto ETFs had been approved, with Bitcoin seesawing as a result. The World Bank says global growth is on track for its slowest half-decade in 30 years. Its Deputy Chief Economist Ayhan Kose tells CNBC that financing conditions around the world will remain ‘restrictive’ for the foreseeable future. In the fall-out from the 737 Max 9 mid-air blow-out, Boeing CEO Dave Calhoun tells staff such an incident can never happen again and acknowledges mistakes had been made by the plane maker. And in France, 34-year-old Gabriel Attal becomes the country’s youngest ever Prime Minister as President Macron seeks to reinvigorate his cabinet. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Chip giant Nvidia hits an all-time share price high on Wall Street, helping to push the Nasdaq since its best day since November. Boeing shares fall after Alaska Airlines and United both find loose bolts on parts of multiple 737 Max 9 planes. French Prime Minister Elisabeth Borne resigns ahead of an expected cabinet reshuffle by President Emmanuel Macron. In crypto news, Bitcoin breaches $47k for the first time in 21 months as hopes grow of an expected approval of a Bitcoin ETF. In South Korea, weak demand and a worse-than-expected profit slump has forced Samsung to revise its Q4 guidance on, causing shares to slide.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

More than 170 Boeing 737 Max 9 are grounded temporarily by the FAA following an incident on an Alaska Airlines flight which saw a side panel blow off in mid-air. Wall Street records its first week in the red in ten following a stronger-than-expected U.S. jobs report for December. Oil is down after three weeks of gains in the past month as Saudi Arabia cuts crude prices to their lowest levels in more than two years. U.S. Secretary of State Antony Blinken is in the Middle East on what is his fourth visit since the October 7th attacks in Israel. He is due to hold talks with officials in the UAE and Saudi Arabia before heading for Tel Aviv in a bid to ease ‘profound tension’ in the region. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. equities continue their tough start to 2024 with the Nasdaq on its longest losing run since 2022. Private hiring in the U.S. is up for December with wage growth slowing ahead of today’s NFP data. The ADP’s chief economist Nela Richardson tells CNBC this trend is set to continue. Exxon says it will take a $2.6bn write-down over idled assets in California while Chevron CEO Michael Wirth tells our colleagues Stateside that oil and gas demand is only set to grow. And in tech news, Apple sees shares nosedive and market cap valuation falling by almost $170bn since the start of the year following Piper Sandler’s downgrade of the company – its second this week.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Dow plunges almost 300 points on the back of perceived Fed hesitation with minutes showing uncertainty about rate cuts. Richmond Fed President Thomas Barkin told CNBC colleagues Stateside he will not rule out hikes. Chinese services activity hit a five-month high but this is offset by a poor employment report which has led to calls for more monetary easing. Disney wins the backing of twin hedge funds as it attempts to see off challenges from activist investor Nelson Peltz. Spanish telco Telefonica agrees a deal with unions as it launches a cost-cutting drive affecting up to 20 per cent of its workforce. And in energy news, markets are on edge with oil spiking following a bomb attack in Iran which killed around 100 people.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Wall Street Santa rally fizzles out with the Nasdaq posting its worst first trading day since 2016. Apple shares fall after Barclays cuts its rating to ‘underweight’. Shipping giant Maersk halts Red Sea shipping, prolonging its 2-day pause indefinitely following sustained attacks on vessels from Houthi rebels. Lebanon’s Prime Minister accuses Israel of attempting to drag the country into the conflict following the drone assassination of a senior Hamas leader in Beirut. In autos news, Tesla loses out to China’s BYD as the world’s top EV maker in the final three months of 2023. It did however retain its crown for the full year. The bull run continues for Bitcoin, breaking through the $45k mark with optimism seemingly growing for an ETF later this year.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Chinese equities begin 2024 in the red with official manufacturing activity contracting, despite a private survey showing the sector accelerating at its fastest pace in 7 months. At least 30 people have died in western Japan following a 7.6-magnitude earthquake. Many are believed to be trapped in the rubble and thousands of homes are without power. Oil is up after Iran sends a warship to the Red Sea following the sinking of three Houthi rebel boats by the U.S. And in tech news, the Netherlands blocks certain ASML chip exports to China one day after Chinese President Xi Jinping says he is willing to stabilise trade relations with Washington D.C.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

All three major indices keep Wall Street firmly in the green ahead of the final trading day of the year. The Dow pushes higher and the S&P 500 is close to a fresh record high while A.I.-related stocks help to drive the Nasdaq 100 to its best run not seen since 1999. Europe follows suit with double-digit gains. The U.S. state of Maine joins Colorado in barring former President Donald Trump from the its primary ballot. Trump has hit back at the ‘attempted theft of an election’. And new shipping industry data emerges showing 50 per cent of Red Sea container traffic is now re-routing vessels over fears of Houthi rebel attacks.   See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Wall Street is on course to post an eight-week winning street with the Dow hitting a new closing high and the S&P 500 not far off its own record peak. The NYT sues Microsoft and OpenAI in a billion-dollar suit over copyright infringement. Apple wins a major legal victory after a U.S. appeals court rules to pause a government import ban on two of its watches. The tech giant had been in an intellectual property dispute with medtech firm Masimo. And in the UK, the government has confirmed the spring Budget will happen on March 6th.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Wall Street Santa rally extends its eight-week winning streak with bets on a March Fed rate cut boosting stocks. In China, November industrial profits are up by almost 30 per cent for November thanks to a variety of government stimulus measures. However, the numbers are still behind 2022 for the year at this point. In Hong Kong, gaming stocks lead the way as Beijing regulators confirmed they would re-consider draft rules aimed at curbing online play and spending. Oil spikes following a Houthi attack on an MSC United vessel in the Red Sea. The company is now re-routing shipments around southern Africa.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The U.S. Santa rally is back on but European indices fail to follow suit with UK GDP receiving a downward revision signalling a potential recession next year. Sportswear giants in Europe see declines in early trade following Nike’s revenue forecast cut. The brand has unveiled a $2bn cost-cutting initiative which has knocked 10 per cent from its U.S. share price. Chinese authorities issue new spending and time rewards for online gaming, pulling Hong Kong’s Hang Seng index into the red. U.S. President Joe Biden has joined other American lawmakers in demanding closer scrutiny of Nippon Steel’s proposed $15bn takeover of iconic U.S. Steel.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Wall Street Santa rally hits a wall with the Dow and the Nasdaq breaking a nine-day winning streak. The S&P 500 records its worst session since September. In media news, CNBC sources claim Warner Bros./Discovery and Paramount have launched merger talks in what could be a landmark mega-deal to gain market share in the streaming industry. Toyota sees shares nose-dive following a major U.S. recall due to a suspected airbag sensor fault. And we hear from French sports minister Amélie Oudéa-Castéra who says next summer’s Paris Olympics could generate up to €10bn and create 180,000 jobs as the city puts the finishing touches to the world’s biggest sporting event.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Santa Rally accelerates with the S&P 500 nearing a new record high and Dow soaring more than 200 points in what was its ninth consecutive session in the green. The U.S. and its allies consider airstrikes against Houthi forces as part of Operation Prosperity Guardian to protect merchant vessels in the Red Sea. Maersk CEO Vincent Clerc tells our colleagues Stateside the security of his crews is paramount. In Europe, new car registrations pick up almost 7 per cent in November with French and Italian data offsetting a slump in Germany. And in logistics news, weak demand prompts Fedex to slash its FY guidance, causing the share price to tumble.   See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

In Asia, equities are in the green with the Nikkei leading the way at the close but the Japanese yen dips as the BoJ is to maintain its ultra-loose monetary policy with no hint of when it will end its negative rate strategy. The Dow and the Nasdaq close narrowly up for the eighth straight session following more dovish predictions about 2024 rate cuts. Chicago Fed President Austan Goolsbee says he is perplexed by market reactions. In the Red Sea, the U.S. spearheads an international maritime operation to protect merchant shipping lanes from drone and missile attacks by Iranian proxies. BP has announced it will be rerouting its tankers in the region. In banking news, activist investor Cevian reveals a €1.2bn stake in Swiss lender UBS following its rescue of Credit Suisse in March. And Apple is scrambling to resolve an IP dispute with a medical technology firm which is holding up U.S. sales of its watches, less than a week before Christmas.   See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

It’s a seventh consecutive week in the green for Wall Street as rate cut optimism continues to grow. However, New York Fed President John Williams tells CNBC that markets should not be too hasty. Shipping titans MSC, Maersk and Hapag-Lloyd say they will stop travelling through the Suez Canal following a spate of attacks on cargo ships in the Red Sea. Germany, France and the UK have called for a ceasefire in Gaza after three Israeli hostages were killed over the weekend. Chinese AI firm SenseTime shares hit a record low following reports its founder has been found dead.  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 Brussels where EU leaders have failed to agree on renewed aid to Ukraine following stiff opposition from Hungary. However, the bloc has confirmed accession talks with Kyiv are to go ahead. Wall Street and European indices remain in the green but lose some momentum following this week’s Fed rate decision. Asian markets, however, push higher led by the Hang Seng. In China, manufacturing output surges in November but the retail sales disappoint. European central banks remain hawkish, rejecting market hopes of a New Year pivot towards rates cuts.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The U.S. Federal Reserve indicates that it will cut interest rates by 75bps next year, triggering a Wall Street rally where the Dow closed above the 37,000-point mark for the first time ever. Resultantly, the 10-year Treasury yield sinks below 4 per cent for the first time in 4 months. Doubleline Capital CEO Jeffery Gundlach tells our colleagues Stateside to brace for market volatility next year. There are rate decisions due from the SNB, ECB, BoE and Norges Bank later today as Deutsche Bank board member Alex von zur Muhlen telling CNBC that central bank moves are finally working. We are also live in Brussels where EU leaders are meeting to discuss Ukraine funding and accession amid opposition from Budapest.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Cop28 negotiators publish a new draft communique which omits any mention of phasing out fossil fuel but have tightened some of the text regarding use of hydrocarbons. The S&P 500 hits its highest level in nearly 2 years. U.S. headline inflation decelerates which has raised investors’ hopes the Fed will pause rate cuts today. Ukrainian President Volodomyr Zelenskyy is in Washington D.C. setting out his case for more U.S. war aid while the country’s deputy prime minister, Olga Stefansishyna tells CNBC she is expecting progress on Kyiv’s bid to join the European Union. And in retail news Walgreens is reportedly looking to spin off its UK Boots franchise with a potential London IPO being under discussion.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

A global Cop28 agreement is on the brink of failure after the draft text removes a call to phase out fossil fuels. Wall Street records a third consecutive day in the green with the S&P 500 shrugging off declines from all of the ‘Magnificent 7’ tech stocks. Ukrainian President Volodomyr Zelenskyy is in Washington for talks with U.S. President Joe Biden and Congressional lawmakers to push for fresh funding in his country’s defence against Russia. Google loses an anti-trust legal case against Epic Games after a federal judge found the tech giant had intentionally imposed barriers against developers in its Android App Store. And in IPO news, Chinese fast fashion brand Shein is reportedly in talks with the LSE regarding a UK listing.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Wall Street posts its sixth week of gains as the economy grows by a further 200k jobs in November. The Fed is due to hold its last meeting of the year later this week. Chinese consumer prices fall at their fastest pace in three years in November while producer prices fall for the fourteenth consecutive month. EU finance ministers are set to hold an extraordinary meeting before Christmas after failing to agree on reforms to debt and deficit rules. EU lawmakers announce new regulations for the use of artificial intelligence – a first move in the West regarding the emerging technology. And Japanese telco firm Rakuten is to launch its own AI language model. CEO Hiroshi ‘Mickey’ Mikitani tells CNBC his company is well placed to succeed.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

A.I. stocks help the Dow and S&P 500 out of a three-day rut with positive announcements from Amazon and AMD helping Wall Street back into the green ahead of today’s non-farm payroll data. The yen hits a four-month high versus the dollar but the Nikkei is down on comments from the BoJ governor Kazuo Ueda who signalled that the central bank may start to unwind its ultra-loose monetary policy. In energy news, WTI rises above $70 per barrel but crude prices remain on track for their seventh straight week of losses. Saudi Arabia and Russia have urged other Opec nations to join them in deepening supply cuts further. And we are live in Brussels where euro finance ministers are convening. German Finance Minister Christian Lindner tells CNBC he is confident that a resolution to his country’s budget impasse is imminent.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Chinese exports grow, snapping a six-month losing streak but jitters over the world’s second-largest economy persist, which pushes U.S. crude prices to below the $70 mark. In the U.S., private sector payrolls data is weaker than expected sending Wall Street into the red once more. However, Amazon CEO Andy Jassy tells our colleagues Stateside that consumer sentiment remains robust. Major bank CEOs testify on Capitol Hill where JPMorgan boss Jamie Dimon lashes out at cryptocurrencies, saying they enable various illicit activities and calls on the government to shut them down. We also speak to Muddy Waters Research founder Carson Block who shorts Blackstone Mortgage Trust, warning that commercial property owners will come under ‘significant strain’ next year.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Asian markets are in the green with Japan’s Nikkei leading the charge on strong chip stock performance. Bitcoin reaches $44,000 for the first time since April 2022 on hopes of a potential ETF. U.S. employment positions fall to a low not seen for two and a half years as rate hikes loosen the historically tight labour market Stateside. We hear from BofA CEO Brian Moynihan who says he is confident the economy activity will rebound as rates continue to ease. Apple shares are up 50 per cent this year, pushing the tech company’s market cap to more than $3tn for the first time since August. And in autos news, Brussels is set to delay EV tariffs between the EU and the UK as demand for the vehicles slumps while Danish Tesla workers join their Swedish counterparts in a sympathy strike, railing against the U.S. company’s economic ideology.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Wall Street ends in the red with the Dow snapping a four-day winning streak as tech stocks falter. Services activity in China accelerates at its fastest pace in three months according to a private survey. This runs counter to government data which shows the sector in contraction for the first time this year. In Dubai, COP28 negotiators are reportedly considering a phase-out of fossil fuels. In banking news, Qatar’s sovereign wealth fund is said to be selling down up to $500m of shares in UK lender Barclays.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

UN Secretary-General slams COP28’s Net Zero charter but ExxonMobil CEO tells CNBC exclusively that technology will be key to eventually reducing global emissions. We also hear from U.S. climate envoy John Kerry who rails against COP28 President Sultan Al-Jaber’s claims that there is ‘no science’ for phasing out fossil fuels. U.S. Federal Reserve Chairman Jerome Powell’s dovish comments on rate hikes send gold spiking and helps the S&P 500 to close at a new record high for the year. Uber stocks rise more than 5 per cent in extended trade on the news that the ride-haling firm will join the S&P 500 following a string of successful quarters.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. equities record their best month of November in decades to power a global stock market rally. Investors are now betting that the Federal Reserve is finally gaining the upper hand against inflation. Opec + nations move to cut supplies further in a bid to shore up the market but prices remain largely unaffected. In Asia, stocks slide following mixed economic data. However, Chinese manufacturing shows surprise growth. And in Gaza a seven-day truce expires with Israeli forces once again engaging Hamas.  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 Dubai where Egypt hands over the UN’s Cop28 conference keys to the UAE. This comes amid criticism over the new host country’s climate agenda. U.S. futures are in the green with all three major indices on track to post their best monthly performances in a year. In Hong Kong, stocks dip into a five-week low following Chinese manufacturing data falls deeper into contraction. And speaking to CNBC’s Andrew Ross Sorkin at the NYT/Dealbook summit in New York Elon Musk hits out at advertisers who decided to boycott X following the promotion of an anti-semitic post on the platform.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Asian equities are in the red following dovish commentary from the Fed which signalled a potential pivot in policy. Billionaire investor Bill Ackman believes a rate cut could come as soon as Q1 next year and warned of a hard landing should rates remain high. We are live at the NATO meeting in Brussels where Finland has closed all borders with Russia, accusing Moscow of deliberately pushing migrant into the country. Foreign Minister Elina Valtonen says her country has responded accordingly. Tributes are flowing following the death of legendary Berkshire Hathaway investor Charlie Munger, aged 99.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

More hostages and prisoners are released as Israel and Hamas agree to extend the truce by a further two days. U.S. Secretary of State Antony Blinken is set to travel to the region - his third visit since the war began. NATO foreign ministers meet in Brussels looking to shore up support for Ukraine. We hear from NATO secretary-general Jens Stoltenberg who says he is confident Sweden’s access into the bloc will happen soon. Chinese fast fashion firm Shein is reportedly listing which could be one of the largest IPOs on Wall Street in a decade. Yesterday’s Cyber Monday is on track to be the biggest online shopping day ever as consumers snap up bargains ahead of Christmas. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Chinese industrial profits gain for a third straight month, but slow sharply in October as policymakers try to fight off softening global demand. Asian equities reverse early gains as China property stocks plunge amid a shadow banking probe, while US futures point lower after a stellar four-week run. And the Israel-Hamas cease-fire holds into a fourth day, with dozens of hostages freed as negotiators work around the clock to extend the truce.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Asian equities are mixed on the back of accelerating inflation in Japan for the first time in four months. A four-day truce between Israel and Hamas takes effect. The first set of hostages are due for release at 1500 CET. In Germany, the ruling coalition has eased its foot off the debt brake to unveil a special budget following last week’s constitution court ruling which left Berlin’s spending plans in tatters. Barclays reportedly eyes a plan to cut as much as £1 bn in costs which could translate into 2,000 job losses.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Populist Geert Wilders’ Freedom Party (PVV) is set to gain the most seats in the Dutch general election, but the anti-EU politician faces an uncertain coalition path to govern. OPEC+ members delay a key policy-setting meeting by 4 days due to an alleged disagreement over productions levels, sending crude prices lower. The Bundesbank President Joachim Nagel says that interest rates may have peaked and has ruled out a hard landing for the Euro Zone but speaking to CNBC, ECB Vice President Luis de Guindos warned against over-optimism. And in Germany, the coalition government has postponed talks to agree the 2024 budget following last week’s constitutional court ruling on spending.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Nvidia sees shares fall in extended trade with the company warning that export restrictions will seriously hamper China sales this quarter, even as overall revenue triples in Q3. Minutes from the Fed’s November FOMC meeting show officials have little appetite for rate cuts so far, but raise hopes that rate increases are now over. In crypto news. Binance boss CZ steps down and pleads guilty to money laundering charges. The world’s largest cryptocurrency exchange has been ordered to settle $4.3 bn with U.S. authorities. Israel and Hamas agree to a four-day humanitarian pause in order to release hostages and prisoners from both sides. The U.K. eyes a raft of tax cuts ahead of today’s Autumn Statement. We are live in Westminster ahead of this afternoon’s announcement. 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 and Nasdaq indices are in the green for the fifth consecutive day, with Microsoft attaining a new all-time share high after Sam Altman joins the company. Following Altman’s ousting, more than 90 people at OpenAI signs a letter demanding his reinstatement. Microsoft CEO Satya Nadella tells CNBC the style of governance at OpenAI is unsustainable. U.S. Treasury Secretary tells this channel the Biden administration has made “considerable” progress in tackling inflation but that further steps remain. And Nvidia is set to report later today with analysts forecasting revenue growth of up to 170 per cent.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Sam Altman's hopes of returning as head of OpenAI are seemingly dashed following a series of last-ditch talks. CNBC confirms former Twitch boss Emmett Shear is set to be appointed interim CEO. U.S. equities are higher for a third consecutive week as cooling inflation buoys sentiment. In Japan, the Nikkei 225 hits a 33-year high. UK Chancellor of the Exchequer Jeremy Hunt promises not to add any inflationary tax cuts in this week’s Autumn Statement, but says that he is committed to bringing down the country’s tax burden. In the Middle East, U.S. -Israeli-Hamas negotiations reportedly inch towards a pause in the fighting in exchange for the release of Israeli hostages in Gaza. And in Argentina, newly elected Javier Milei wins the presidential run-off and promises shock therapy for the country’s economy. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Gap shares soar in extended trade as sales at its Old Navy division lifts spirits ahead of the holiday shopping season, but a cautious outlook at Walmart sends their shares lower. The Dow breaks a 4-day win streak, while crude prices slump to a 4-month low, putting pressure on OPEC+ ahead of a meeting in Vienna at the end of the month. Cleveland Fed President Loretta Mester holds the line, ignoring calls for an early rate cut, telling CNBC the battle against higher prices isn't over yet. Elsewhere Alibaba scraps plans to spin off its cloud business, sending shares lower in Hong Kong and wiping 20 billion dollars off the Chinese tech giant's market value. And Protesters take to the streets of Spain, rallying against a controversial amnesty deal as Prime Minister Pedro Sanchez secures a second term four months after an inconclusive snap election.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

US President Joe Biden and China's Xi Jinping agree to open high level military talks and create a presidential hotline, as the two countries vow to work together. Data optimism pushes Wall Street toward a third straight week of gains, after U.S. factory inflation declines at its fastest rate in three and a half years. Target shares post one of their best daily performances on record, after the firm notches its biggest earnings beat in two and a half years and sells down inventory – while traders eye Macy's and Walmart earnings out today. Siemens reports record sales growth for the full year, but cautions that revenues will slow in 2024. And, the U.S. Senate passes a stopgap funding bill to avert a government shutdown, sending it to the President's desk ahead of Friday's midnight deadline.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Global markets enjoy softer-than-expected U.S. inflation data with consumer prices flat-lining in October. As a result, the S&P 500 posts its best day since April. In Germany, Siemens Energy locks in a €15bn rescue package from the government to secure it following poor performances from is wind turbine unit. The Chinese yuan is buoyed by positive factory and retail data for October as the PBOC injects more supportive measures. And in Washington, the risk of a government shutdown has been averted in the House with the stop-gap funding bill now heading to the Senate.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Wall Street is poised as investors anticipate the Fed’s next move ahead of today’s U.S. inflation print. In the UK, a shock return for former prime minister David Cameron who has been drafted in as foreign secretary in a contentious reshuffle by Rishi Sunak. Shares in troubled engineering giant Siemens Energy move higher on news of a state aid guarantee as soon as tomorrow. And in Brussels, officials agree a 12th package of sanctions against Russia. The bloc’s sanction envoy David O’Sullivan tells CNBC that punitive financial efforts are slowly taking effect on the country’s economy.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Moody’s lowers its US outlook but maintains its AAA rating amid looming political turmoil as new House Speaker Mike Johnson works to avert a government shutdown. Asian equities search for direction and U.S. futures are in the red after the Nasdaq posts its best daily performance since May. Danish pharma giant Novo Nordisk publishes positive results from its cardiovascular trials as its attempts to lengthen the gap over rival Eli Lilly. U.S. Treasury Secretary Janet Yellen has met with Chinese Vice Premier He Lifeng ahead of this week’s meeting between President Biden and Xi Jinping in San Francisco in a bid to smooth economic tensions.  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 remains hawkish about the prospect of further rate cuts and has warned of being complacent following several months of positive data Stateside. His comments, along with a poor 30-year bond auction broke the Wall Street rally and pushed Treasury yields higher. In Spain, the PSOE strikes an amnesty deal with Catalan separatists, paving the way for Pedro Sanchez to return as prime minister. The move has infuriated the opposition Partido Popular. Siemens Energy stock is up by 6 per cent following reports of a breakthrough in talks to guarantee state funding to prop up the company’s €100bn order book. In crypto news, Bitcoin hits a 18-month high and Ether breaches the key $2,000-level on the news that BlackRock is moving to a spot ETF. We hear from Ripple CEO Brad Garlinghouse who says that a new form of regulation is required.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 falls back to consumer price deflation territory with factory gate prices decreasing for the 13th consecutive month. Disney posts a Q3 bottom-line beat and cuts costs by a further $2bn. Boasting subscriber numbers of 150m, CEO Bob Iger tells CNBC that the business is now on its way to recovery. Chip maker ARM sees shares fall by almost 7 per cent in extended trade, posting weaker-than-expected guidance in its first results since going public. In aviation news, French plane maker Airbus posts 9-month revenue of €42bn and hikes its targets for the production of its A350 craft. We also assess last night’s third GOP presidential debate in Miami which focused on abortion rights, foreign policy and the absence of frontrunning candidate Donald Trump.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Wall Street notches its eighth consecutive session in the green – the longest winning streak in two years. Fed Governor Michelle Bowman is pushing for a further hike as her colleague Christopher Waller calls recent GDP data as a ‘blowout quarter’. Chicago Fed President Austan Goolsbee tells our colleagues Stateside that a ‘golden path’ to a soft landing remains a possibility. Crude slips to three-month lows as several poor global data prints and the potential of spillover from the Israel-Gaza war fuel concerns of slowing demand. The IMF calls for tight European policy decisions but the Fund’s Europe Director Helge Berger tells CNBC that the continent will dodge a recession. Plus, we have a slew of third-quarter earnings with DHL, Pandora and Siemens Healthineers among them.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

UBS posts a higher-than-expected Q3 loss, however the incorporated Credit Suisse wealth management unit enjoys net new money turning positive for the first time in 18 months. The Nasdaq finishes in the green for a seventh consecutive session but Asian equities fail to follow suit. Chinese trade data is out for October with exports falling for a sixth straight month but imports beat forecasts to grow by 3 per cent. In Australia, the RBA hikes interest rates by 25bps, reaching a 12-year high. And in corporate news, WeWork seeks Chapter 11 bankruptcy. The Softbank-backed office-sharing start-up reports liabilities ranging from $10bn to $50bn.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Wall Street enjoys its best week of the year and the Nikkei responds by hitting a one-month high. The risk-on sentiment was fuelled by a softer-than-expected U.S. jobs data but Richmond Fed President Thomas Barkin tells CNBC that there are still no rate cuts to come in the near-future. Berkshire Hathaway posts a 40 per cent jump in operating earnings as Warren Buffett buys up short-term Treasury bills. The company’s cash pile balloons to a record $157bn. In telco news, Telecom Italia’s board approved KKR’s €19bn bid for its fixed-line network. However, top shareholder Vivendi vows to block the deal using any legal means possible.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Sam Bankman-Fried is found guilty on all seven counts of criminal fraud, conspiracy and money laundering. The FTX founder now faces more than 100 years behind bars. A disappointing forecast for Christmas retail weighs on Apple in extended trade even as the company posts a beat on Q4 earnings. All three U.S. majors are on track for their strongest week of the year with non-farm payroll numbers due after the S&P 500 reporting its best session since April. French lender Société Générale enjoys a Q3 net profit beat thanks to a resilient performance from its investment arm as its new CEO plans to overhaul the bank. And Bank of England governor Andrew Bailey tells CNBC that the latest rate pause signals the end of the hiking cycle but says that talks of any cuts remain premature.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The U.S. Federal Reserve keeps rates on hold claiming progress in the fight against inflation but Chairman Jerome Powell does not rule out further hikes as the U.S. economy remains robust. Investors, however, bet that the Fed is finished in its hiking cycle, pushing Wall Street into the green and U.S. yields drop with the Treasury decreasing the pace of longer-dated bond issuance. But investors Stanley Druckenmiller and Jeffrey Gundlach tell CNBC that they fear oncoming challenges. The BoE rate decision is due later today. And we are live in Bletchley Park, Buckinghamshire at the A.I. Safety Summit where the U.S. has unveiled its own watchdog to regulate the new technology. The UK’s Science, Innovation & Technology Minister Michelle Donelan tells CNBC that it is paramount to have the ‘right guardrails’ in place today. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Wall Street ends a tough October in the green as investors bank on another Federal Reserve rate pause. The U.S. Treasury is due to announce its quarterly refunding process with the 10-year yield hitting a 16-year high. The private Caixin survey shows Chinese manufacturing slip into contraction territory in October, further highlighting the challenges facing Beijing’s stimulus programme. Corporate tech leaders and world policy makers meet in the UK for the inaugural A.I. Safety Summit. We hear from the CEO of Google DeepMind who says governments must coordinate to create a safe framework for the technology.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Bank of Japan revises its upper limit on the 10-year JGB yield as a loose reference rather than a strict cap with the yield now hitting its highest level in almost a decade. On Wall Street, the S&P 500 enjoys its best day since August exiting correction territory but all three major U.S. indices are set to close October in the red – their first three-month losing streak since March 2020. In China, manufacturing activity saw a surprising dip for the month with services and construction also falling. And in corporate news, Tesla shares sink after its battery partner warns that EV demand is faltering. X CEO Elon Musk’s stock plan indicates he values the social media company at less than half the price he paid for it last year.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

HSBC launches a new $3bn share buy-back programme after posting Q3 profits of $7.7bn. The S&P 500 closed last week in correction territory, All three major U.S. indices are set for their third consecutive week in the red. Investors now await rate decisions from the Fed, BoJ and the BoE. Israel expands military manoeuvres in northern Gaza while thousands break in to a UN aid warehouse. In autos news, the UAW agrees to a pay deal with Stellantis and also approves a tentative deal with Ford regarding a 30% wage increase for full-time workers.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Nasdaq falls further into correction territory as poor tech results and rising Treasury yields dampens sentiment in the sector. Meanwhile the U.S. economy has grown at its fastest pace in two years. Amazon boasts soaring advertising sales with profits almost tripling for the quarter. Shares are up by 5 per cent in after-hours trade. In China, policy support aids profits in some of the country’s biggest industrial firms as Foreign Minister Wang Yi meets his U.S. counterpart Antony Blinken in Washington, hoping to improve ties between the world’s two largest economies. The ECB pauses its rate-hiking cycle after 10 consecutive increases. The central bank’s president Christine Lagarde announces that any suggestion of cuts remains very premature.  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 are in the red with the Nasdaq suffering its worst one-day drop since February and the S&P 500 falling below the 4,200-point mark. Meta beats Q3 expectations but the result is overshadowed by an uncertain revenue outlook for the social media giant. Asia-focused lender Standard Chartered misses Q3 pre-tax profit expectations by 2 per cent and is hit with $294m of credit impairment charges. BNP Paribas chalks up a third-quarter beat with net income hitting €2.7bn but CFO Lars Machenil tells CNBC he is concerned about the oil and gas price outlook. Ford strikes a tentative deal with UAW and the agreement now needs to be approved by members following 6 weeks of strikes. And in Washington, Louisiana Congressman Mike Johnson is finally selected as Speaker of the House to end 3 weeks of uncertainty on Capitol Hill.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Tech earnings kick off in the U.S. with Alphabet posting a beat across the board but missing expectations on cloud revenue which has plunged shares down by 6 per cent in after-hours trade. Microsoft, however, see shares rise by 4 per cent after its own cloud unit saw quarterly sales rise by 19 per cent compared to last year. We have earnings in Europe where Deutsche Bank hikes its capital outlook after posting a 3 per cent increase in net revenue for the third quarter due to a strong performance from its corporate banking division. Luxury fashion house Gucci suffers a 9 per cent drop in Q3 sales as U.S. demand weakens. And in Washington a fourth GOP candidate – Mike Johnson – is the latest to be nominated for Speaker of the House after Majority whip Tom Emmer ends his bid just four hours after selection.   See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Billionaire investor Bill Ackman withdraws his short position while bond king Bill Gross snaps up short-dated interest rate futures in a sign the pair are concerned about the health of the U.S. economy. Hamas releases two elderly hostages as French President Emmanuel Macron jets into Tel Aviv in a bid to contain the conflict. In oil news, Chevron swoops for Hess in a $53bn all-share mega-deal. Chevron CEO Mike Wirth tells our colleagues Stateside the merger will be a boon for the sector. Computer parts maker Logitech struggles in the second quarter through falling sales following the gains it made during the pandemic.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Humanitarian aid enters Gaza amid ongoing Israeli airstrikes as the war with Hamas enters its third week. Speaking exclusively to our colleagues at Sky News, Israeli President Isaac Herzog has said his nation has the right to defend itself. Asian stocks fall for a fourth consecutive day as the global bond sell-off continues. Several Fed officials have hinted that the central bank may be close to ending the rate-hiking cycle. In China, the blue-chip CSI falls to its lowest level since 2019. Authorities in Beijing investigate Apple supplier Foxconn over tax issues and land use. In autos news, Volkswagen cuts its FY profit outlook but maintains its delivery and sales targets ahead of official results coming later this week.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 has dismissed criticism that the current rate policy is too tight and that recent signs of cooling are still not enough to convince that inflation is falling sustainably towards the central bank’s goal. Wall Street was pushed into the red after the 10-year Treasury yield breached the key 5 per cent mark. It is at its highest level in 16 years. U.S. President Joe Biden has called on Congress to release up to $100bn in a new security aid package to Ukraine and Israel, saying American leadership ‘holds the world together’. L’Oréal posts an 11 per cent surge in Q3 sales despite weak Chinese demand.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Price cuts and margin pressures have sent Tesla shares down 4 per cent in after-hours trade following a profit drop of 44 per cent for the quarter. CEO Elon Musk has warned of a challenging outlook. Netflix, however, sees shares soaring by 13 per cent on increased subscriber figures. Co-CEO Greg Peters hails the advertising business at the streaming giant. Asian indices are down after the U.S. 10-year Treasury yield hits its highest level since July 2007. Washington says that Egypt is due to open the Rafah crossing by Friday to allow humanitarian aid into Gaza. And in tech news, cloud computing titan SAP confirms its full-year guidance. Cloud revenue in Q3 is up 16 per cent with shares on Wall Street up 3 per cent in extended trade.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Chinese GDP in the third quarter beats expectations growing 4.9%, raising hopes that Beijing can still manage to attain its full year growth target. In the U.S., the 2-year Treasury yield hits a 17-year high on better-than-expected consumer numbers. However, BofA CEO Brian Moynihan tells our colleagues stateside that he believes consumer activity is still being hampered by high interest rates. Hundreds are believed dead after a blast at a Gaza hospital, just hours before President Biden is due to arrive in Tel Aviv. We hear from Egyptian Foreign Minister Sameh Shoukry who says that Israel’s actions over the past week may have violated international humanitarian laws. In Washington, the search for a new House speaker stalls again as Republican Jim Jordan falls short of winning the role by 17 votes. A second ballot is due later today. And in retail news, sportswear giant Adidas cuts its full year loss forecast and hikes guidance on the strong sale of its remaining Yeezy shoe inventory.  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 confirms he will visit Israel on Wednesday while Secretary of State Antony Blinken has stressed the need for aid to reach the Gaza Strip where the humanitarian crisis is worsening. Optimism over corporate earnings help push the Dow to its best session for a month ahead of earnings from Goldman Sachs and BofA later today. Chinese property giant Country Garden could default on a dollar bond as it nears the end of a 30-day grace period to pay a $15m coupon. Russian President Vladimir Putin arrives in Beijing to solidify his ‘no limits’ partnership with his Chinese counterpart Xi Jinping. And in crypto news, asset manager BlackRock denies reports that U.S. regulators have approve its application for a spot Bitcoin ETF. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

President Biden warns the Israel-Hamas war could escalate into a wider regional conflict and cautions Jerusalem against re-occupying the Gaza Strip. The S&P 500 posts its second week in the green while geo-political tensions sees Brent move back up past $90 per barrel. Kicking off Q3 earnings season, U.S. banking giants JP Morgan, Citi and Wells Fargo all beat on top and bottom lines. Asset manager BlackRock sees its first net outflows since early 2020 but CEO Larry Fink remains bullish about the future. In Poland, the ruling Law & Justice party wins the general election but falls short of a majority with former European Council president Donald Tusk eyeing a path to a coalition government.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 end a four-day streak in the green, dragging Asian equities lower as a result as stronger-than-expected inflation re-ignites concerns that rates will remain elevated for longer. Debt distress was a focus at the IMF/World Bank Meetings in Marrakech yesterday. World Bank President Ajay Banga tells a CNBC panel that trying to predict interest rates is ‘soothsaying, future-telling’. September consumer inflation in China flatlines and manufacturing prices fall for a twelfth consecutive month. Israel issues a warning to all Gaza City residents to leave the city for southern regions of the Strip ahead of significant military ground offensives. And in Washington, Louisiana Republican Representative Steve Scalise withdraws his bid for Speaker of the House, prolonging the impasse to a second week.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

September’s FOMC minutes show officials grappling with volatility which highlights uncertainty for the U.S. economy. We hear from Bundesbank president Joachim Nagel who insists Germany is not the ‘sick man of Europe’, making a sharp distinction between its current economic situation and the early 2000s. All three U.S. indices post their fourth straight day of gains ahead of today’s crucial inflation print. In Israel the two main political parties form an emergency war government with Prime Minister Netanyahu vowing to wipe Hamas out. Footwear firm Birkenstock underwhelms on its Wall Street debut, coming in at $1.7bn below its planned listing price.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Asian markets hit a two-week high on the back of the largest drop by the U.S. 10-year Treasury yield since mid-July. We are live at the IMF meetings in Marrakech where ECB Governing Council board member Robert Holzmann tells us that any additional economic shocks could prompt one or two more interest rate increases. Israeli armed forces are launching a ground offensive into the Gaza Strip with the combined death toll of the conflict reaching 2,100. President Biden has condemned the Hamas attack, pledging unwavering support to Israel. South Korean chip giant Samsung beats Q3 profit expectations despite an 80 per cent dip for the quarter. Meanwhile LVMH misses sales forecasts as high inflation and soaring rates weigh on consumer purchasing power. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Global equities stage a turnaround as investors brush off concerns in the Middle East, while U.S. bond yields slide after dovish Fed comments fuel speculation the tightening cycle is close to done. Meanwhile, Hamas threatens to kill hostages as Israel orders a complete siege of the Gaza Strip, with Prime Minister Benjamin Netanyahu vowing the campaign is “just getting started”. International condemnation pours in as Ukrainian President Volodymyr Zelensky accuses Russia of trying to exploit the Israeli crisis. Ukraine's deputy central bank governor tells CNBC the West needs to band together in support of Ukraine. And Country Garden fails to repay an international loan - accelerating a liquidity crisis as the Chinese property giant warns it's unlikely they will be able to meet all remaining debt obligations.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Hundreds of people are killed as militant group Hamas launches a surprise attack on Israel - in the deadliest day of violence in the country for 50 years. Oil prices jump, but in an exclusive interview Saudi Arabia's Energy Minister tells CNBC that OPEC's ability to stabilise prices should not be underestimated. U.S. job growth smashes expectations in September, nearly doubling forecasts - pushing bond yields to a 16-year peak and fuelling fears over a ‘higher for longer’ interest rate environment. And Metro Bank strikes a deal - announcing a new £325 million capital raise and almost double that in debt refinancing - as the embattled British lender shores up 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.

IMF Managing Director Kristalina Georgieva says the global economy is holding up, ahead of next week's Annual Meetings – while calling for structural reforms in Germany. On Wall Street, attention turns to September’s non-farm payrolls report, with analysts expecting 170k new jobs to have been created – slightly lower on the month. EU leaders gather in Granada, pledging more support for Ukraine. European Parliament President Roberta Metsola urges allies to step up, telling CNBC the bloc can't do it alone. Elsewhere Exxon Mobil is reportedly in advanced talks to buy Pioneer Natural Resources, in a deal worth as much as 60-billion dollars, as the U.S. energy giant wades deeper into the shale space. And we delve into the troubles at Metro Bank after shares plunge on reports the U.K. challenger bank is looking to raise £600 million in capital, or sell a significant chunk of its mortgage book.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The sell-off in global bonds takes a breather after a U.S. private sector jobs report sees its slowest pace of growth since January 2021. Crude prices stabilise after their biggest one-day drop in more than a year, as demand concerns weigh, and Saudi Arabia and Russia extend voluntary production cuts. Republican hopefuls jockey for position in the race to replace House Speaker Kevin McCarthy. German defence contractor Renk pulls its IPO at the 11th hour, citing a "clouded" market environment. And opening statements begin in the Sam Bankman-Fried trial, over alleged fraud in the collapse of crypto firm FTX.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Dow turns negative for the year as hot jobs data fuels speculation the Fed will keep rates higher for longer, while the 10-year yield hits its highest level since August 2007. Negative sentiment spills into Asia, sending major equity markets into the red with Japan's Nikkei dropping to a 4-month low. U.S. House Speaker Kevin McCarthy is ousted, putting the gavel up for grabs as he becomes the first lawmaker in history to be removed from the post. And Novartis officially spins off its generic drug division Sandoz today, in a move the Swiss pharma giant's CEO says will allow the firm to focus on its core business.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Asia equities are at a 10-month low as the new quarter begins while in the U.S. the Russell 2K turns negative for the year. Crude prices also remain negative, touching on a 3-week low. We are live at ADIPEC in Abu Dhabi where the CEOs of some of the world’s largest IOCs talk to us about the difficulty of maintaining price security while also keeping the pace of the energy transition. Trading in Chinese property developer Evergrande resumes following a two-day hiatus as police launch an official investigation into the firm’s billionaire founder. In autos news, Tesla fails to hit its delivery target – its first decline in more than a year – as high rates and factory upgrades weigh in the third quarter. And German sandal-maker Birkenstock is due to list in New York next week with an IPO valued at more than $9bn.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The U.S. government narrowly avoids a shutdown after both the House and Senate agree on a short-term funding deal. President Biden has blamed ‘MAGA extremists’ for the brinkmanship. In oil news, crude prices end Q3 almost 30 per cent higher as Saudi Arabia and Russia are set to keep supplies tight until the end of the year. We are live at the ADIPEC summit in Abu Dhabi where we will be speaking to whole hosts of guests from the energy sector. A key U.S. inflation barometer posts its smallest increase in three years which has boosted hopes that the Fed could be close to ending its rate-hiking cycle. The S&P 500 ends September at its worst monthly level this year while Chinese factory activity expands for the first time in six months.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. equities plunge in September as Fed rate concerns prompt a global sell-off. Speaking at CNBC’s Delivering Alpha conference, billionaire hedge fund manager Bill Ackman says he would not be surprised to see Treasury yields hit 5 per cent and beyond. We also hear from Altimeter Capital chairman and CEO Brad Gerstner who predicts that A.I. may even have a bigger impact than the internet in the 1990s. The U.S. House of Representatives passes a defence funding bill which removes support for Ukraine while the Senate scrambles to agree on short-term budgetary plans before a potential government shutdown on Sunday. House Speaker Kevin McCarthy tells CNBC that there is still time to avert the crisis. In autos news, UAW members warn they will expand strikes if their demands are not met as they table a counter-proposal to Stellantis. And failed lender Credit Suisse reports an adjusted loss of CHF3.5bn with net outflows totalling almost CHF40bn.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Soaring yields pushes U.S. stocks to their worst month of the year so far. The 10-year Treasury yield hovers at its highest level since 2007. However, Bank of America CEO Brian Moynihan tells our colleagues Stateside that a soft landing is still possible. SEC Chair Gary Gensler has warned that Congress’s inability to secure a budget deal could have serious repercussions for stock and bond markets. Presidential hopeful Nikki Haley slams lawmakers for risking a government shutdown as GOP candidates trade barbs during the second Republican debate hosted by Fox Business. Germany awaits what could be its largest IPO this year as Schott Pharma prepares to list with a potential valuation of €4.1bn.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Dow plunges by almost 400 points to post its worst session since March. The U.S. 10-year Treasury hovers at its highest level since 2007. The U.S. competition watchdog, the FTC, launches an unprecedented probe into e-commerce giant Amazon, accusing it of inflating prices, hobbling competition and exploiting vendors. In Washington, a government shutdown looms as a bipartisan funding bill is put forward in the Senate but some Republicans continue to push a conflicting measure in the House of Representatives. President Joe Biden becomes the first leader to join a picket line, offering support to striking UAW members in Michigan.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Wall Street breaks a four-day losing streak, this despite the U.S. Treasury yield breaching a high from 2007. We hear from Chicago Fed President Austan Goolsbee who says the central bank is on the right track to reining in inflation. Ratings agency Moody’s says that another U.S. government shutdown could risk its AAA sovereign rating as federal funding discussions continue to drag on. Chinese property giant Evergrande sees losses extend for a second day after one unit misses an on-shore bond interest payment. Brussels and Beijing attempt to diffuse trade tensions. EU Trade Commissioner Valdis Dombrovskis urges the two not to drift apart. In autos news, we hear from Nissan CEO Makoto Uchida who pledges his company will only sell EVs by 2030 and hails its foothold in the Chinese market.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

On Wall Street the S&P 500 and the Nasdaq suffer their worst week since March as a trio of Fed officials doubled down on ‘higher for longer’ rate hike cycle signals. Chinese property giant Evergrande sees shares plunge after it announced it was unable to issue new debt due to an investigation into one of its subsidiaries. There has been a breakthrough in Hollywood between the writers’ union and the major studios but in Detroit strikes have expanded with President Joe Biden set to join the picket lines tomorrow. European Trade Commissioner Valdis Dombrovskis has said that China could do more to improve Europe’s perception of risk from the country but stresses that Brussels does not seek to decouple from Beijing. And in Spain, 40,000 people protest against plans by Prime Minister Pedro Sanchez to grant Catalan separatists amnesty.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Wall Street is having its worst week since March posting a third consecutive day in the red with the 10-year Treasury yield stalled at levels not seen since 2007. The BoJ maintains its ultra-low interest rate causing the yen to fall. This as inflation data comes in above target for the 17th month in a row. Sterling also plunges to a six-month low after the Bank of England governor Andrew Bailey casts the tie-breaking vote to hold rates steady following 14 consecutive increases. In autos news, talks remain stalled between Detroit’s Big Three and UAW bosses ahead of a deadline later today. More sporadic strikes have been promised unless an agreement is found. And News Corp and Fox Corp chairman Rupert Murdoch steps down from the helm to pass the reins on to son Lachlan. He will remain as chairman emeritus of the media empire.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The U.S. Federal Reserve has paused its rate-hiking cycle, predicting one more hike later this year and fewer cuts than expected next year. Fed Chair Jerome Powell’s hawkish forecast pushes Treasuries to new multi-year records while U.S. equities close in the red. We hear from Klaviyo CEO Andrew Bialecki who hailed the timing of his company’s IPO. Shares were up 9 per cent on the debut. And in the UK, investors are braced for the Bank of England’s rate decision which could follow the U.S. in pausing rate hikes following yesterday’s better-than-expected inflation data.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The U.S. 10-year Treasury yield hits its highest level since 2007, putting pressure on stocks around the world ahead of today’s Fed rate decision. Rising rates across the world have pushed debt to a fresh record high of more than $300tn. Online grocery delivery firm Instacart debuts on the Nasdaq with shares closing up 12 per cent. CEO Fidji Simo tells our colleagues Stateside that post-pandemic growth is paramount. Ark Invest launches on the European ETF market snapping up specialist thematic group Rize. We hear from European Commission Vice-President Maroš Šefčovič who says the bloc seeks a balanced trading relationship with Beijing and has denied plans for tariffs on Chinese electric cars in the future.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Asian stocks are mixed following a rocky Wall Street session ahead of Wednesday’s Fed rate decision. U.S. Treasury Secretary Janet Yellen tells CNBC that she expects the economy to experience some delayed monetary policy impact. Online grocery firm Instacart prices its shares at the top of its range, valuing them at almost $10bn. In Detroit, the UAW threatens more strikes, urging the Big Three automakers to improve their proposals with latest offer from Stellantis potentially causing the closure of 18 facilities. In oil news, prices hit 10-month highs with Brent breaching $95 per barrel. Saudi Arabia’s energy minister Abdulaziz bin Salman insists supply cuts are not simply a means of forcing prices up. The ECB is reportedly considering asking lenders to raise reserve requirements in order to clamp down on excess liquidity.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Wall Street ends a rocky week in the red ahead of Wednesday’s Fed decision. Washington and Beijing hold “candid, substantive and constructive” discussions about trade in a bid to ease tensions between the two countries. The IMF urges China to increase domestic consumption. Online grocery delivery firm Instacart is increasing its prospective IPO price range to $10bn in the wake of Arm’s blockbuster listing. As a result of that IPO, Softbank CEO Masayoshi Son is now reportedly eyeing up an investment in Open AI. And strikes at Detroit’s Big Three automakers continue for a fourth day as the White House is set to send a delegation to Michigan to attempt to break the impasse.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Arm shares pop 25% in its debut session, giving the chip designer a market cap of $68 bn, with the CEOs of Arm and Softbank telling CNBC exclusively the group is here to stay. The blockbuster IPO boosts sentiment on Wall Street with the Dow rallying over 300 points – its best day since early August. Elsewhere Beijing steps up with more stimulus - cutting the RRR for the second time this year, as key economic data from the world's second largest economy comes in better than expected. The ECB hikes rates to a record high and suggests policy may finally be restrictive enough to stamp out inflation, prompting markets to bet the central bank has reached the end of its hiking path. And thousands of U.S. auto workers go on strike, hitting production at General Motors, Ford and Stellantis - as the UAW union president warns the group will not buckle.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Arm prices its blockbuster IPO at $51 per share, giving the chip designer a valuation of over $54 bn, with the stock set to debut on Wall Street today. US inflation rises by the most of any month this year while core prices also come in hotter than expected, pushing the Dow to its second straight negative session. It's a close call for the ECB - the central bank weighs up a potential hike that would take rates to a record peak, alongside a likely increase to the regional inflation outlook. And Elon Musk, Mark Zuckerberg and Bill Gates join tech leaders and senators on Capitol Hill to discuss safeguards for artificial intelligence, with the Tesla CEO telling CNBC authorities must get out in front of the technology, warning of “severe consequences” if AI were to go wrong.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

BP boss Bernard Looney resigns after failing to reveal the full extent of past relationships with colleagues, with the executive tasked with transforming the energy giant lasting less than four years in the role. The Nasdaq leads declines on Wall Street as Oracle shares steer tech stocks into the red, but focus now turns to today's inflation print with DoubleLine Capital's Jeffrey Gundlach forecasting a Fed cut next year. Arm will reportedly price its blockbuster IPO at the top of its range or just above, as the world's largest chipmaker TSMC confirms it will invest up to 100 million dollars in the listing. And The US IPO market really picks up the pace, as German footwear maker Birkenstock files to list in New York - the second major European company to seek an overseas listing this month.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Chip designer Arm reportedly looks to close the books early on its blockbuster IPO, amid reporting the listing is now more than 10x oversubscribed. Tech stocks fuel a Wall Street rally with equities seeing back-to-back gains, while Tesla shares accelerate 10% off the back of an analyst upgrade. But JPMorgan Chase CEO Jamie Dimon isn't buying the optimistic view of Wall Street, urging caution and warning that despite the positive sentiment, he still has major concerns on the U.S. consumer. And the EU cuts its growth outlook and forecasts an annual recession in Germany as higher energy prices hit the industrial powerhouse.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

President Biden insists the US is not trying to hurt China and is focused on getting the relationship right, amid reports Beijing tried to challenge Washington's 2026 presidency of the G20. The G20 communiqué faces criticism for watering down its condemnation of Russia, while the US, EU, India and Saudi Arabia strike an infrastructure deal in a blow to Beijing's push for influence over the Global South.The Chinese economy exits consumer price deflation in August as CPI ekes out a marginal gain, but prices at the factory gate continue to tumble with PPI falling 3 percent on the year. And Arm reportedly considers raising the price range on its highly anticipated IPO due later this week, amid reports the chipmaker's listing is up to 6 times oversubscribed.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Apple shares take a big hit, losing $200 billion in market value in two days as reporting gathers pace that Chinese government workers have been banned from using iPhones. Shares in Apple supplier Qualcomm drop over 7%, leading U.S. chipmakers lower and weighing on Wall Street, while a fall in jobless claims triggers concerns over higher rates and stubborn inflation. Goldman Sachs CEO David Solomon defends his time in the top job, telling CNBC he doesn't recognise the recent "caricature that's been painted", while pinning his hopes on a rebound in IPO activity. And global leaders descend on New Delhi for the G20 summit, but the absence of Chinese President Xi Jinping remains a key talking point as tensions continue with 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.

Chinese trade surprises to the upside but continues to contract with monthly exports falling by almost 9 per cent. Wall Street closes in the red with the Nasdaq leading losses as very resilient services sector data increases concerns that inflation may need to rise further for longer. We hear exclusively from EU Internal Market Commissioner Thierry Breton who marks out six tech titans as ‘gatekeepers’ under its Digital Markets Act. Breton has warned the group it has 6 months to comply with new rules clamping down on anti-competitive practices. Bank of England governor Andrew Bailey has said that the end of the rate-hiking cycle is nearing, causing sterling to plunge to a three-month 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 loses 200 points as risk assets retreat during a shortened U.S. trading week with Asian stocks following suit. U.S. Treasuries are lower as Federal Reserve Governor Christopher Waller signals to CNBC that rates may be paused in September as good data has given the central bank some breathing space. Brent is up to more than $90 a barrel after Opec+ nations agree to extend supply cuts by a further 3 months. And in tech news, UK chip designer ARM Holdings is set to launch its IPO in New York next week, pricing it at $52bn in what could be the largest listing in the past 2 years. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Chinese equities are down slightly from a one-month high after Caixin PMI data comes in at its lowest level for eight months. The embattled Chinese property developer Country Garden has reportedly tranferred money to creditors for payments on two USD bonds in order to avoid its potential first ever default. Danish pharma giant Novo Nordisk officially replaces LVMH as Europe’s most valuable company. It also announces that its best-selling weight loss drug WeGovy will now be available in the UK. And we are live at the IAA in Munich where Xpeng President Brian Gu tells CNBC the Chinese car maker is planning to expand into the prestigious German autos market.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The U.S. sees a surprise jump in unemployment numbers with softer hourly earnings data which prompts expectations that the Federal Reserve will pause its rate hiking cycle this month. NEC director Lael Brainard says the economy remains resilient and stable. Chinese property developer Country Garden has reportedly struck a deal to extend on-shore bond payments, pushing shares to a three-week high. Asian equities, led by the Hang Seng, are higher as a result. We are live at the Ambrosetti Forum on the shores of Lake Como where Italian deputy PM Antonio Tajani has told CNBC his country is considering withdrawing from China’s Belt & Road Initiative. Meanwhile, European Economy Commissioner Paolo Gentiloni claims the EU economy can avoid recession, despite the marked downturn seen in Germany. We are also live at the Munich Auto Show where an increased Chinese presence is drawing attention. However the CEOs of Mercedes and BMW tell CNBC that they remain unfazed by the new competition.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Chinese yuan hits a three-week high after Beijing announces it will be cutting its FX reserve ratio in a bid to prop up its currency while the country’s banks move to support the troubled property sector. We are live at the Ambrosetti Forum on the shores of Lake Como where economist Joseph Stiglitz tells CNBC he doubts whether China possesses the correct economic personnel to guide the country out of its current downturn. U.S. monthly inflation moves higher, causing Treasury yields to rise as a result ahead of today’s important non-farm payrolls data. The Nasdaq suffers its worst monthly performance of the year so far as interest rate expectations remain pessimistic.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

UBS reveals its first set of quarterly results following its emergency takeover of rival Credit Suisse, posting a Q2 net profit of $29bn. It also announces it plans to keep the Credit Suisse domestic bank going. A revised Q2 GDP reading in the U.S. comes in softer than expected while private payrolls slow sharply for August as the labour market begins to cool. The S&P 500 is on track for a fourth consecutive day in the green ahead of tomorrow’s key U.S. jobs report. Chinese manufacturing contracts for a fifth month in a row but not by as much as feared amid a downward trend in the property sector. And in tech news, the Biden administration prohibits A.I. chips exports to certain Middle Eastern countries over national security fears of Chinese access to the resources.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. equities enjoy their biggest one-day gain in almost 3 months after a fall in labour market data boosts hopes that the Fed may pause its rate hike cycle. U.S. Commerce Secretary Gina Raimondo has warned that China has become ‘uninvestible’ because of its barriers to business which are reportedly causing U.S. companies to shun the country. In a landmark case, a U.S. federal appeals court overturns the SEC’s decision to block crypto investment firm Grayscale’s Bitcoin ETF. Chevron decides to move staff from its three oil rigs in the Gulf of Mexico as Hurricane Idalia approaches the coast of Florida, potentially strengthening to a Category 4 storm. We hear exclusively from ABB CEO Bjorn Rosengren who says business in China remains soft due to problems in the property and construction sectors.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. equities begin the week in the green as investors attempt to regain ground ahead of a crucial inflation report later this week. U.S. commerce secretary Gina Raimondo visits China, opening the door for dialogue announcing formal working groups to ease trade tensions. However, she said Washington would not compromise on national security. Grocery inflation slows in the UK, relieving some of the pressure on the BoE to keep hiking rates. And in autos news, China’s largest-selling brand BYD sees H1 profits surge by 200 per cent.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Dow’s rally is short-lived with the index now posting its worst day since March. Nvidia’s stellar quarterly numbers have been rapidly overshadowed by concerns over the Fed’s next rate move. In Jackson Hole, policy makers are split over whether interest rate hikes have gone far enough. Philadelphia Fed President Patrick Harker tells CNBC that rates should remain steady. Former U.S. President, Donald Trump, surrenders to authorities in Georgia over racketeering and conspiracy charges in the state, posing for the first ever presidential mugshot before being bailed. In energy news, concerns over waning Chinese demand weigh on oil prices while India’s oil and gas minister Hardeep Singh Puri tells our colleagues in Asia that his country’s supply is well diversified away from reliance on Russia.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Nvidia shares soar in extended trade following the chip maker’s bumper Q2 which saw it hike guidance. CEO Jensen Huang tells investors on a conference call that the company is only getting started. U.S. equities were buoyed by the news and Treasury yields eased. Investors now turn to the Jackson Hole central bankers’ symposium for further signs about the Fed’s monetary policy strategy. A private plane allegedly carrying the Wagner Group’s leader Yevgeny Prigozhin crashes in Russia’s Tver region near Moscow, killing ten people. Mercenary chief Prigozhin had led a brief coup attempt against Russian President Vladimir Putin in June. And in the U.S. Republican presidential candidates clash in the first debate ahead of 2024’s election with frontrunner former president Donald Trump deciding to skep the event in Milwaukee.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Benchmark U.S. yields are touching 16-year highs ahead of this year’s Jackson Hole symposium. Meanwhile Japan’s 10-year JGB yield is at its highest level since early 2014. In tech news, Nvidia shares pare back slightly from record levels with option traders considering double-digit news should the chipmaker falter with earnings results. U.S. retail giant Macy’s posts a Q2 net loss warning that shoppers will become more discerning and price-driven in H2. In Spain, the King greenlights the conservative opposition to form a new government following last month’s inconclusive election. Chinese President Xi Jinping assures BRICS counterparts over his country’s recent economic effort and pledges to reinforce ties within the bloc.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Nasdaq posts its biggest one-day gain in almost a month despite Treasury yields climbing further. The 10-year yield hits levels not seen since 2007. Chip maker Arm unveils its regulatory filings in preparation for its Wall Street listing next month in what could be the largest tech IPO since Alibaba. The ratings agency S&P has downgraded 5 U.S. banks and lowers its forecast for several more, citing tighter credit conditions. BHP profits plunge while Australia’s largest oil and gas company Woodside delivers record H2 results. CEO Meg O’Neill tells CNBC that talks with trade unions have been constructive. And BRICS nations meet for a two-day summit in Johannesburg with plans to expand the bloc to act as a counterweight to the Western G-7.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

China attempts to halt the decline in its property sector, but it defies expectations by slashing its one-year loan prime rate by less than expected and leaving the 5-year rate unchanged. The Hang Seng reacts negatively as a result, slumping to a new nine-month low as investor concerns deepen. Former U.S. President Donald Trump has refused to attend the first GOP primary debate in a bid to upstage the party’s opening event. The U.S 30-year Treasury bond yield hits its highest level since 2011, ahead of this week’s central bankers’ symposium in Jackson Hole, Wyoming.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Market rallies in the U.S. have stalled with 2 per cent weekly declines while Asian equities are on course for their third consecutive week of losses as rate woes and a growing debt crisis stoke investors’ fears. In China, property giant Evergrande files for bankruptcy protection in the U.S. with state-owned developers warning of large losses throughout the sector. Japan’s core inflation eases which boosts hopes that the BoJ may keep benchmark rates on hold. And in crypto news, Bitcoin tumbles by up to 9 per cent following SpaceX’s decision to sell off its $373m holding in the company.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Cracks appear following the publishing of the Fed’s July meeting minutes with two officials breaking from consensus, urging a pause on hiking. The U.S. Treasury yield hits a 15-year high while markets plunge on the news. In Japan, the yen slumps to a new 9-month low prompting calls for BoJ stimulus. This, as monthly Japanese exports fall for the first time in two years. In U.S. retail news, Target sees its shares slide which puts an end to six years of revenue growth. Walmart is set to post its data later today.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. retail numbers come in strong, seeing the largest gains since January. However, Fitch Ratings has warned it may need to downgrade top-tier U.S. banks which causes shares to dip. The Dow breaks a three-day winning streak as a result to come in lower. Minneapolis Fed Chair Neel Kashkari reiterates that it is too early to say the Fed is done with its hiking cycle. Further woes in China as new home prices slip prompting calls for support to prop up the sector. Global investment banks have cut their forecasts for Chinese growth. And UK inflation expectations are up following record wage growth.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

There is more economic disappointment coming out of China where policy makers have cut the rate of its mid-term lending facility and youth unemployment data publishing has been suspended. Former U.S. president Donald Trump is hit with a fourth indictment. A grand jury in the state of Georgia has charged him with felony racketeering and various conspiracy charges. We hear from Republican presidential candidate Ron DeSantis who says Disney CEO Bob Iger should drop his lawsuit against the state of Florida and labels China an adversary. And in tech news, Nvidia shares are up as Saudi Arabia and the UAE reportedly order thousands of semi-conductors form the Silicon Valley chip giant.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Chinese property developer Country Garden suspends bond trading as an escalating debt crisis sends shares to a record low and the broader equity market into the red. Goldman Sachs says it expects a Fed rate cut in Q2 next year, while earnings season turns to the big-box retailers this week for clues on the state of the economy. Litigation mounts at UBS as Credit Suisse retail investors prepare to lodge a fresh legal claim against the Swiss lender's rushed rescue as soon as today. And Softbank is reportedly in talks to buy Vision Fund's 25 percent stake in chip design company Arm, ahead of its Nasdaq listing next month.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

UBS has removed the safety net, voluntarily scrapping the cash provision agreement with the Swiss National Bank. The country's federal council confirmed taxpayers will no longer bear any risks from the Credit Suisse collapse. Wall Street welcomes a softer than expected inflation print, with major indices posting their first positive session in three, fueling hopes the Fed will pause rates hikes at its September meeting. X Corp's Linda Yaccarino insists she has full autonomy as CEO of the Elon Musk-owned company, and tells CNBC in an exclusive interview that major advertisers including Coca Cola are returning to the platform. And fashion giant Tapestry strikes an $5.8 billion deal to acquire Versace's parent company Capri, hoping to reach new parts of the luxury sector.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Disney shares gained in extended trade after the firm hiked prices for its streaming services. However the entertainment giant revealed a larger than expected subscriber loss, with CEO Bob Iger pledging to sharpen his focus. U.S stocks slipped ahead of today’s key inflation print, as Wall Street looks for signs the Fed's rate hikes are taking hold. Siemens misses industrial profit forecasts in the third quarter, with CEO Roland Busch telling CNBC waning Chinese demand had a material impact on order intake. And Beijing hits out at President Biden, following an executive order curbing U.S. investment in Chinese tech, with China saying it reserves the right to retaliate.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Chinese economy tips into deflation for the first time in over two years with consumer prices -0.3%, heaping further pressure on Beijing to step up the stimulus. Bank stocks lead Wall Street into the red after Moody's cuts the credit rating of ten regional lenders, while Italy's government partially backtracks on its planned bank windfall tax after lenders see heavy losses in Tuesday's session. Disney's ESPN partners with Penn Entertainment to launch its first sports betting book, with CEO Bob Iger looking to rejuvenate the House of Mouse ahead of key earnings later today. And Novo Nordisk shares hit a fresh record high, jumping 17% after unveiling positive results from its weight loss treatment Wegovy, cementing the Danish heavyweight as Europe's second largest company by market cap.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Chinese exports post their biggest decline since the onset of the pandemic, plunging more than 14% in July while imports also come in much worse than expected. Wall Street snaps back with the Nasdaq and the S&P 500 ending four-day losing streaks as hopes for a soft landing take hold. And the Bank of England's Chief Economist warns food price inflation will only fall as far as 10% this year, as a fresh survey shows U.K. retail sales at their lowest level in 11 months.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 and the Nasdaq turn in their worst weeks since March with tech giant Apple weighing heavily, while non-farm payrolls miss expectations with a gain of 187,000 jobs in July. Siemens Energy cuts its revenue outlook and posts a third quarter net loss of almost €3 billion, with the German group warning of further serious challenges at its wind unit Gamesa. And Berkshire Hathaway’s cash pile jumps to nearly $150 billion as Warren Buffett's conglomerate posts a near 7% rise in operating earnings.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Amazon posts a blowout quarter, beating on both the top and bottom lines as cost cutting efforts help the company deliver its biggest earnings beat since early 2021. The shine comes out of Apple with shares dropping in extended trade as the iPhone-maker grapples with declining sales of its consumer devices. Treasury yields break higher with U.S. bonds shedding nearly all their gains for 2023, as investors brace for the latest Non-Farm Payrolls report for clues on the Fed's next move. Meanwhile, Bank of England Governor Andrew Bailey tells CNBC the fight against inflation is far from over - and that the central bank will make its decisions as the data comes in. And finally, crude prices are on track for their 6th straight week of gains for the first time in more than a year, as Saudi Arabia extends output cuts into September.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. stocks hit sell-off mode - with the Nasdaq registering its worst day since February as investors digest the Fitch downgrade. JP Morgan CEO Jamie Dimon tells CNBC the decision was "ridiculous".The Bank of England prepares to deliver its fourteenth straight rate hike today as inflation pressures appear to ease, but speculation ramps up over how big the increase will be.Societe Generale beats on the bottom line in the second quarter and confirms its full year outlook, adding to a run of strong results from Europe's banks. Qualcomm shares sink in extended trade after the chipmaker posts a miss on revenue and issues softer guidance, as attention turns to Apple later today - with numbers out after the bell.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Fitch strips the U.S. of its top-tier credit rating - citing fiscal deterioration and political deadlock as the surprise decision draws the ire of Washington. Markets digest the downgrade - with Asian equities sinking deeper into the red. Siemens Healthineers confirms its full year top line outlook despite diagnostics revenue taking a hit in the third quarter. And a grand jury indicts former U.S. President Donald Trump on four counts over alleged efforts to overturn the 2020 election result.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

China's manufacturing sector contracts for the fourth straight month, but equity markets move higher as the country's State Council unveils measures to boost consumption. This prompts broader Asian stocks to extend last week's gains with the Nikkei hitting a 4-week high and tech stocks leading the way on Hong Kong’s Hang Seng. U.S. equity markets close out a milestone week as bumper earnings push the benchmark indices to 15-month highs, while core PCE data shows inflation at its lowest level in almost 2 years. Meanwhile, crude is on pace for its best monthly performance in 18 months, as expectations rise that Saudi Arabia will extend its voluntary production cuts for another month.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Japan’s corporate bond yield surges to its highest level in almost a decade with the yen and Nikkei whipsawing. The BoJ has promised greater flexibility in its yield curve policy. Asia-focused bank Standard Chartered hikes its dividend and announces a $1bn buyback as H1 net profit surges 20% on higher rates. The ECB raises rates for the ninth consecutive time. President Christine Lagarde, like U.S. Federal reserve Chairman Jerome Powell, says she is open to another increase. In tech news, Intel shares are up 8 per cent after a Q2 beat on the top and bottom line. And the CEO of bespoke UK bank Coutts has been forced to resign following the Nigel Farage de-banking scandal.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Fed hikes interest rates to their highest level in 22 years. Chairman Jerome Powell says he will remain open to a further hike or a pause in August. Investors now await the ECB’s rates decision which is expected to be another hike of 25bps as euro zone inflation remains stubbornly above 5 per cent. Airbus beats Q2 profit targets and confirms FY guidance. CEO Guillaume Faury tells CNBC that supply chain bottlenecks do still remain a ‘complex environment’. Social media giant Meta beats on the top and bottom line driven by a recovery in digital advertising. French bank BNP Paribas sees Q2 net income surge by 16 per cent. CFO Lars Machenil tells this channel that price pressures are slowly easing.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

We have a slew of European earnings with Deutsche Bank and Unicredit dominating as investors anticipate another bumper quarter from the banking sector. Spanish giant Santander confirms its full-year outlook after a 15 per cent jump in H1 net interest income. In the U.S., tech earnings were front and centre. Google parent company Alphabet shares were up in after-hours trading as the company’s cloud unit drove profits. Microsoft, however, falls into the red. In luxury news, LVMH paints a mixed picture with Asian sales on the up but U.S. sales declining as Americans choose to travel in Europe. And NatWest CEO Dame Alison Rose has been ousted as CEO after she admitted “a serious error of judgement” in leaking confidential news to the BBC about the closure of Brexiteer Nigel Farage’s account with wealth manager Coutts.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Dow enjoys an eleventh day in the green posting its highest close since February last year. Chinese and Hong Kong markets are up on the promise of more economic stimulus from Beijing. Adidas has improved its full-year loss guidance after unexpectedly strong sales of Yeezy trainers despite the abandoned collaboration with U.S. rapper Kanye West. Weak demand for its weed killer forces Bayer to cut its full-year outlook for a second time while software giant Logitech hikes its sales guidance despite a 16 per cent decline in Q2 revenues. And we speak to Hinduja Group chairman Gopichand Hinduja who says UK Prime Minister Rishi Sunak has taken the correct steps to prevent the country from sliding into a recession.  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 Madrid where yesterday’s general election results in no outright winner, which could now mean months of coalition talks. Partido Popular leader Alberto Feijoo has stressed the need to avoid a prolonged period of uncertainty. The Dow closes last week in the green – only just – for the 10th consecutive day which in turn is the index’s longest rally since 2017. Markets are now eyeing key meetings from the ECB and the Fed later this week. U.S. Energy Secretary Jennifer Granholm has called for greater oil output to curb recent price hikes. She tells CNBC recent markets have been ‘emotional’. And in Greece, wildfires on Rhodes have triggered the largest mass evacuation in the country’s history.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Dow records its longest winning streak since 2017 but the Nasdaq slumps to its worst day in 4 months. German software giant SAP misses Q2 expectations and slashes revenue guidance for its cloud unit but CEO Christian Klein tells CNBC that cloud remains its key growth driver despite waning demand. Indian IT firm, Infosys, sees shares tumble after it cuts its outlook in half due to inflation pressures and a pullback in discretionary spending. The Conservatives win a by-election in Boris Johnson’s former constituency but lose a seat to Labour in what was the largest swing for the party since 1997. And we are live in Madrid where Spanish Prime Minister Pedro Sanchez’s snap election gamble comes to a head this Sunday.   See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Tesla shares dive in extended trade after price war pressures hit Q2 margins. However, CEO Elon Musk shrugs off recession fears to forecast stellar growth for the EV maker. Netflix sees subscriptions beat estimates in Q2 following a crackdown on password-sharing. However, a miss on guidance sends shares lower in after-hours trade. Goldman Sachs endures a bruising Q2 posting its lowest quarterly profit in 3 years as deal-making slumps.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Higher net interest in the U.S. helps Bank of America and Morgan Stanley to record bumper quarterly profits. BofA CEO Brian Moynihan tells our colleagues Stateside that a soft landing is now very much a possibility. The strong bank earnings on Wall Street see the Dow posting its longest winning streak in more than two years. Microsoft reveals pricing for its new A.I. subscription sending shares rocketing to a new all-time high. The firm’s Activision Blizzard deal extension talks now go down to the wire. The UK could see further hot inflation data coming through later on, as continuing price pressures mean the Bank of England is likely to maintain tightening.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Wall Street’s top banks slash FY Chinese GDP with both Hong Kong and mainland shares underperforming and the property sector shedding value. U.S. equities are in the green at the start of a busy week of earnings, with major banks’ earnings in the spotlight. Microsoft’s deal for Activision Blizzard is closer to completion after Berkshire Hathaway reveals it has offloaded 70 per cent of its stock in the game maker. Russia crashes the Ukraine grain deal blaming the West for not upholding its side of the bargain. Ukrainian President Volodomyr Zelenskyy slams the move, saying extortion will not be tolerated. And in retail news, the board of beleaguered French supermarket Casino approves rescue talks with Czech billionaire Daniel Kretinsky.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Chinese economy continues to stutter, only growing by 0.8 per cent in Q2, raising expectations of vital stimulus efforts from Beijing. Asian equities respond in kind slipping on the news, however Wall Street and European markets enjoy their best week since March. Microsoft and Sony agree to a 10-year deal to keep the best-selling ‘Call of Duty’ game on the PlayStation console. The move brings Microsoft a step closer to sealing the Activision Blizzard deal. And U.S. banks kick off earnings season posting bumper profits via rising net interest rises. Citi CFO Mark Mason tells CNBC it is still too early to rule out a recession.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Wall Street posts its fourth-straight day in the green while Asian equities are on track for the best week of the year after U.S. producer prices come in muted for June. However, San Francisco Fed President Mary Daly tells CNBC the fight against inflation is not over yet. Earnings season is set to kick off in the U.S. with the larger banks are braced for a surge in loan losses as high rates affect borrowers. In crypto news, a U.S. judge rules that a Ripple token does not represent a security which offers a potential supervisory escape route for other altcoins. The FTC’s Chair Lina Khan is grilled on Capitol Hill as the regulatory body fails in another attempt to block Microsoft’s $69bn takeover of Activision Blizzard.   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 and the Nasdaq close Wednesday’s session at a 15-month high after U.S. inflation drops to its lowest level in two years. Chinese exports suffer their worst decline since February 2020. We are live in Vilnius where following a difficult and testy NATO summit, G-7 countries provide Ukraine with long-term security guarantees but President Volodomyr Zelenskyy tells CNBC that full NATO membership is his ultimate goal. German industrial giant BASF surprises by slashing FY guidance as weakening industrial demand weighs. And in tech news, the U.S. FTC appeals the court ruling which green-lit Microsoft’s $69bn of game maker Activision Blizzard.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 Vilnius, Lithuania where NATO members stop short of an outright invitation to Ukraine to join the alliance. German defence minister Boris Pistorius tells CNBC that Kyiv will have to wait until the conflict ends to become a fully-fledged member. Speaking ahead of important bilateral meetings, Ukrainian president Volodomyr Zelenskyy slammed the delay as ‘absurd’. In tech news, Activision shares surge after a U.S. judge green-lights Microsoft’s bid to buy the game maker. UK authorities have now indicated they may welcome the deal. U.S. equities close in the green with the S&P 500 and the Nasdaq within 1 per cent of their 52-week highs.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Turkey clears the path for Sweden’s NATO accession with Ukraine’s membership bid now the focus of attention at the bloc’s summit in Vilnius. Lithuanian President Gitanas Nausėda tells CNBC full integration for Kyiv is paramount. U.S. equities break a three-day losing streak with financial and energy stocks balancing out tech losses ahead of key inflation reports and the beginning of quarterly earnings. UK Chancellor Jeremy Hunt calls for wage restraint in a bid to rein in inflation. BoE governor Andrew Bailey says salary increases are contributing to price pressures.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. Treasury Secretary Janet Yellen hails a constructive trip to China after holding 10 hours of talks with senior officials, as the U.S. considers curbs on investment. Chinese producer prices fall at their fastest pace in over 7 years while CPI comes in on the brink of deflation, underscoring the challenges facing the world's second largest economy. U.S. President Joe Biden says Ukraine is not yet ready for NATO membership, acknowledging divisions within the defence alliance as Kyiv marks 500 days of war ahead of a key summit in Lithuania. Headline U.S. non-farm payrolls come in below forecasts, but strong wage growth fuels concerns of further rate hikes from the Fed - sending the Dow to its worst weekly performance since March. ECB governing council member Francois Villeroy de Galhau pushes back against suggestions central banks should raise their 2% inflation targets, while Eurogroup President Paschal Donohoe tells CNBC there's more work to do.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Private sector jobs in the U.S. grew by almost half a million last month with the labour market showing no signs of abating. Non-farm payroll numbers are out later today. Equites and bonds see a sell-off as investors anticipate the U.S. Federal Reserve to continue its hiking cycle further into the year. The 2-year U.S. Treasury bill hits its highest level in 16 years while Europe’s Stoxx 600 plunges to its steepest one-day drop since March. U.S. Treasury Secretary is in Bejing attempting to thaw difficult trade relations between the world’s two largest economies. An emphasis on healthy competition is top of the agenda. In tech news, Samsung expects a 96 per cent fall in quarterly profit in what would be the Korean electronics giant’s worst performance since 2009. Hydrogen firm Thyssenkrupp Nucera is due to list on the Frankfurt stock exchange in what will be one of Europe’s largest IPOs this year. Nucera shares are priced at €20 providing the company with a market cap of €2.5bn.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 are slightly down after June’s FOMC minutes indicated that more rate hikes are on the way despite the Fed opting to pause last month. Asian equities mirror the losses Stateside. U.S. Treasury Secretary, Janet Yellen, is due to visit China but tensions have been ramped up as Beijing warns that export restrictions on no chip raw materials are ‘just a start’. We are live in Vienna at the Opec seminar where the CEOs of TotalEnergies and Saudi Aramco tells CNBC that the oil sector remains robust despite recent signs of faltering demand. In IPO news, ThyssenKrupp’s hydrogen arm is set to list in Frankfurt valued at €2.5bn while Romanian energy firm Hidroelectrica is to go public on the Bucharest Stock Exchange next week and will be Europe’s biggest IPO of 2023 so far. Meta’s social media platform Threads goes live, earning 5 million subscribers within its first 4 hours.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Chinese post-Covid recovery continues to stutter with services activity growing at its slowest pace in five months. Meanwhile, Beijing has said it will no longer exploit its own rare material resources only to be subject to U.S. restrictions in producing semi-conductors. Tesla and BYD both post record Q2 deliveries as the EV race in China gathers momentum. We are live in Vienna for the Opec Seminar where despite Russian and Saudi Arabian production cuts to come, a price rally has failed to materialise. Brent pulls back as concerns over a Chinese slowdown and higher rates mount. And U.S. markets are back online today following yesterday’s 4th July celebrations as investors await the latest Fed minutes over its decision to pause its rate hiking cycle.  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 start H2 positively ahead of today’s 4th July holiday. Meanwhile the RBA’s hiking cycle pause has buoyed investor sentiment in Asia. In tech news, China imposes export controls on vital rare materials gallium and germanium which are used in semi-conductor production. The move is seen to be in retaliation against Western chip curbs on Beijing. Russian and Saudi oil cuts fail to sustain a crude rally as recession fears and the Chinese slowdown continue to hamper demand. Social media giant Meta unveils Threads to rival Twitter. The platform is set to go live on Thursday.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Asian markets begin H2 in the green with strong business sentiment in Japan outweighing slowing factory activity in China. U.S. equities end the first half of the year in very positive territory. The Nasdaq surges more than 30 per cent to close its best H1 in 40 years. Apple closes Friday’s session as the world’s first-ever $3tn company. In autos news, Tesla boasts of record production numbers in Q2 while deliveries are up by 83 per cent on the year with CEO Elon Musk’s move to cut prices appearing to have worked. And France suffers a sixth night of nationwide violence following the police shooting of a 17-year-old. President Emmanuel Macron has postponed a long-planned state visit to Germany in a bid to quell the unrest.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Nasdaq is on track for its best H1 in 40 years with A.I. demand fuelling tech stocks. China’s post-Covid recovery, however, continues to stutter with factory activity contracting for a third consecutive month. EU leaders meet in Brussels and make pledges to shore up military and financial aid to Ukraine in the wake of last week’s attempted Wagner Group mutiny in Russia. In retail news, U.S. sportswear giant Nike reports its first quarterly miss in three years. And there are signs of a thaw in the IPO market as shares in the U.S. thrift store chain Savers Value Village jump on the Wall Street debut. Online Chinese fashion brand Shein is also reportedly eyeing a New York listing later this year. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The world’s top central bankers meet at the ECB annual forum in Sintra, Portugal and stand firm on further rate hikes. U.S. Federal Reserve Chairman Jerome Powell says restrictive policies have not been restrictive for long enough to rein in inflation. ECB President Christine Lagarde tells CNBC that more hikes remain a prospect and that the central bank requires more time to assess its previous moves. U.S. markets are flat on the comments coming from Sintra but Apple stands out closing close to a record $3tn market cap. The main U.S. banks easily pass the Federal Reserve’s stress tests but concerns remain about the health of smaller regional lenders. In tech news, Micron beats Q3 earnings expectations on soaring A.I. demand and supply bottlenecks clearing.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

ECB officials attending the central bank’s annual forum in Sintra have played down talk of rate cuts. We hear from ECB chief economist Philip Lane who says the bank must remain data-dependent when making rate decisions. U.S. housing and consumer data shows resilience but Chinese industrial further declines by double digits. On Wall Street, the Dow breaks a six-session losing streak to stay on track to record its best month since November. Resurgent tech stocks have pushed the Nasdaq towards its best H1 for forty years. In banking news, UBS is reportedly ready to cut Credit Suisse staff by half starting next month.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Russian President Vladimir Putin makes his first public remarks since the abandoned coup by the PMC Wagner Group at the weekend. Chinese Premier Li Qiang addresses the ‘Summer Davos’ in Tianjin, calling form more foreign direct investment and warns against global economic fragmentation. We are live in Sintra, Portugal for the ECB’s annual summit where the Bank of Lithuania governor Gediminas Šimkus tells us the there is some way to go for the current rate-hiking cycle. In the U.S., the Dow sees its longest losing streak since September last year. Investors have profited on well performing tech stocks. The VIX hits its lowest level since before the pandemic.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Russian President Vladimir Putin’s grip on power is severely tested over the weekend after the private military company Wagner Group marches on Moscow before performing an abrupt u-turn. Asian equities remain sanguine despite the tumult as the Wall Stret rally recedes. Oil, however, is slightly higher. We are live at the first ‘summer’ Davos in Tianjin since the Covid pandemic. And in Greece, Kyriakos Mitsotakis’s New Democracy party secures a landslide victory, winning enough parliamentary seats to govern outright.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Tech stocks u-turn on Wall Street but the Nasdaq is on course for its worst run since April. The Bank of England raised rates by 50bps but Governor Andrew Bailey played down fears of a looming UK recession. Siemens Energy shares fall sharply lower after it scrapped its FY outlook upon discovering further technical problems within its turbine unit Gamesa. The company warns it now faces costs of €1bn. The White House welcomes Indian Prime Minister Narendra Modi and unveils a slew of new partnership deals between Washington and New Delhi.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 records its worst session this month while short positions on U.S. shares hit their highest level in more than a year. U.S. Federal Reserve Chairman Jerome Powell tells the House Financial Services Committee that efforts to rein in inflation are far from over. The Bank of England faces pressure do the same after a shock inflation print sends two-year gilts surging to a 15-year high. In the wake of the collapse of Credit Suisse, the SNB has called for more robust capital buffers and a framework to stabilise or wind down important lenders. And in retail news, the FTC sues Amazon, accusing it of duping customers into subscribing to its Prime service without their consent.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The recent U.S. equities rally runs out of steam as investors lock in profits and mull the rates forecast before Fed Chair Jerome Powell testifies in front of Congress later this week. UK Chancellor of the Exchequer Jeremy Hunt rules out offering government mortgage relief as he meets with bank chiefs to discuss spiralling repayments. Softbank CEO Masayoshi Son makes bullish comments about potential A.I. benefits, shifting the company to an offensive position. Deutsche Post DHL CEO plays down concerns about de-globalisation, telling CNBC that reliance on China is very entrenched and hard to replace. And we are live in North Greenwich, London at the Ukraine Recovery Conference where Rishi Sunak is set to unveil a major new support package to Kyiv.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

China slashes two more key lending benchmarks for the first time in 10 months as the PBOC attempts to stimulate a stuttering economy. In a sign of potentially easing tensions between the U.S. and China, Secretary of State Antony Blinken meets with President Xi Jinping in Beijing and calls for further dialogue. In tech news, Intel signs off on a €30bn chip manufacturing factory in Germany, making it the largest FDI in the country. Chancellor Olaf Scholz has highlighted the need to de-risk from China. And Airbus inks the largest commercial aviation deal ever, selling 500 single-aisle planes to Indian budget airline Indigo.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. Secretary of State Antony Blinken arrives in China and holds “candid and constructive” talks with his counterpart Wang Yi. It’s the first visit of an American cabinet-level official for five years. Meanwhile, Goldman Sachs downgrades its FY GDP forecast for China. It quoted Beijing’s limited ability to boost stimulus. Asian equities start the week in the red as a result despite scoring their best weekly run in five months. AstraZeneca seeks to spin off its Chinese unit and to list separately in either Hong Kong or Shanghai as growing geo-political tensions pushes the pharma giant to seek a safe haven. And after a four-year pandemic hiatus, we are live at the Paris Airshow where Airbus and Boeing vie for new orders.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

All three major U.S. indices hit historically high averages ending the session more than 1 per cent in the green. The BoJ sticks to its guns and maintains negative rates despite inflation moving higher. The Nikkei is up in afternoon trade while the yen drops against the dollar. In Frankfurt, ECB President Christine Lagarde hikes euro zone rates to a 22-year high. Lagarde said there was no sign that the hiking cycle could be paused beyond the summer. European leaders attempt to woo the next Tesla gigafactory with CEO Elon Musk meeting with Italian Prime Minister Georgia Meloni before attending the Vivatech conference in Paris later today. And on Wall Street, restaurant chain Cava sees shares surge 100 per cent following its IPO.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Fed makes a hawkish pause but Chairman Jerome Powell warns of two more rate rises later this year in a bid to balance market expectations. The rate decision pushes the S&P 500 and Nasdaq off 13-month highs while U.S. treasuries waver. Bond king Jeffrey Gundlach tells CNBC that the Fed strategy remains flawed and delayed. The PBOC cuts a key policy rate which sees the yuan fall to a six-month low. The ECB is now set to hike rates yet again as inflation hovers above 6 per cent. And we are live at Vivatech in Paris where French President Emmanuel Macron tells us that countries must work together to draft coordinated regulation regarding A.I.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. inflation drops to its lowest level since in 2021 with investors anticipating a pause in rate hikes from the Fed. The S&P 500 and the Nasdaq respond by hitting 13-month highs and U.S. Treasuries yields also rise on investor optimism the hiking cycle may be coming to a close. In the UK, stronger-than-expected jobs data push short-term gilt yields to levels not seen since last year’s chaotic mini-budget. BoE governor Andrew Bailey admits that inflation in Britain is more stubborn than first thought. In tech news, chip maker AMD makes inroads into A.I., creating a new semi-conductor while Nvidia closes the session with a $1tn valuation for the first time ever – the seventh U.S firm to do so. We are live at Vivatech in Paris which is President Emmanuel Macron’s annual pitch to increase tech investment in France.  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 its highest level since April 2022 as investors anticipate a Fed rate hike pause later this week. Bank of America CEO Brian Moynihan tells our U.S. colleagues that the central bank cannot yet signal the end of the tightening cycle. In China, the PBOC cuts a key short-term policy for the first time in 10 months as its post-Covid recovery stutters and crude prices are impacted as a result. Intel is reportedly set to be an anchor investor in Arm’s Wall Street listing. The chip designer aims to raise $8-10bn later this year. Also in tech news, Oracle shares reach a record high after the company beats Q4 estimates. The FTC seeks to block Microsoft’s proposed $68.7bn deal for Activision over fears it may withhold or degrade the company’s games on rival platforms.  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 enjoys its fourth straight week in the green ahead of this week’s Fed rate decision. The FOMC is expected to pause its hikes in order to assess ten consecutive interest rate increases. UBS completes its takeover of Credit Suisse marking a new historic chapter for the banking behemoth. In oil news, WTI slides below the pivotal $70-mark as demand concerns continue to grow. Saudi Arabian energy minister, Abdulaziz Bin Salman tells CNBC he is working within a difficult environment. Spain’s left-wing parties strike a last-minute deal to merge in next month’s general elections which could prove to be a boon for Socialist Prime Minister Pedro Sanchez.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

China’s post-Covid recovery stutters as factory prices nosedive at their fastest pace in seven years. Risk of deflation prompt calls for more government stimulus. The S&P 500 is up by 20 per cent since its low in October, sparking talk of a potential new bull market. Crypto exchange Binance suspends all U.S. dollar deposits in the wake of its SEC lawsuit. SEC chair Gary Gensler has slammed the crypto sector calling it rife with ‘hucksters’ and ‘fraudsters’. Meanwhile in Washington, President Biden hosts UK Prime Minister Rishi Sunak where the pair announced an ‘Atlantic Declaration’ which pledges to strengthen ties on clean energy and A.I. The deal, however, falls far short of an FTA between the two nations. And former U.S. President Donald Trump has been indicted on seven criminal charges in Miami over alleged mishandling of classified documents.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Bank of Canada surprises markets by hiking rates, becoming the second global central bank to take a hawkish turn ahead of next week’s Fed meeting. U.S. Treasury Secretary tells CNBC exclusively that strong American employment will not prevent inflation from being reined in back to target. Crypto exchange Coinbase’s CEO Brian Armstrong slams the SEC for moving to ring-fence the sector, saying that the case against his company should not be compared with procedures against Binance. UK Prime Minister Rishi Sunak is in Washington on a two-day trip where he is to meet with President Biden, seeking to play down trade tensions between the two countries. Volvo unveils its electric EX30 premium SUV as it plans for half of its products to be fully electric by 2030. We hear from CEO Jim Rowan who says that last year’s supply chain concerns are finally dissipating.   See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Chinese exports disappoint in May by a wide margin as weak domestic forecasts and global consumption concerns weigh. U.S. indices rally, however, with fresh record highs for the S&P 500 and the Nasdaq. The VIX drops to its lowest intra-day level since before February 2020. The World Bank slashes its global growth forecast for next year, citing higher rates and tight credit conditions. Deputy Chief Economist Ayhan Kose tells CNBC that the world economy remains in a precarious situation. U.S. authorities clamp down on crypto, targeting Coinbase and freezing all U.S. assets globally owned by Binance. SEC Chairman Gary Gensler tells our U.S. colleagues that the sector’s business model must be regulated. And in sports news, the PGA Tour merges with Saudi-backed outfit LIV, ending all litigation between the factions.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Apple launches Vision Pro – its first mixed-reality product since it first entered the wearable category almost a decade ago. In crypto news, the SEC sues the world’s biggest exchange, Binance, as well as its CEO Changpeng Zhao for breaking security rules in the U.S. The RBA unexpectedly hikes rates by 25bps, warning that a soft landing still remains elusive for the Australian economy. ECB President Christine Lagarde admits that there are signs core inflation is moderating but says it is too early to announce price pressures have peaked in the euro zone.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Oil prices lift following Saudi Arabia’s pledge to cut supply by a further 1m bpd from July onwards. Speaking exclusively to CNBC, Prince Abdulaziz bin Salman said that the move was a precautionary measure. Friday’s Dow Jones session was the strongest since January, moving 700 points on news of a strong U.S. jobs report and President Biden signing the debt agreement into law. We also hear from IMF managing director Kristalina Georgieva in Dubrovnik who says that despite a stellar U.S. employment situation, it is still too early for the Fed to step back from its tightening cycle. ECB hawk and Croatian National Bank Governor Boris Vujčić echoes her words, saying that rate rises will only stop when the economic situation allows. We are also at the Shangri-La Dialogue in Singapore where German defence minister Boris Pistorius tells us that German weapons manufacturers are working non-stop to support Ukraine’s military endeavours against Russia.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The U.S. Senate votes to pass the debt ceiling agreement to send it onto President Biden to ratify, avoiding what would have been the first ever U.S. default. The news pushes Asian markets into the green. The Nikkei is now on course for its eighth consecutive week of gains while tech stocks lead the way on the Hang Seng in Hong Kong. Ukrainian President Volodomyr Zelenskyy puts pressure on NATO to forge a path for Kyiv’s accession with UK Prime Minister Rishi Sunak telling CNBC Ukraine rightfully belongs in the alliance. And crude prices are up ahead of this weekend’s Opec+ meeting but still track towards their worst week since early May.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The debt ceiling bill is approved by House Representatives, moving it onto the Senate. Hose Speaker Kevin McCarthy has warned Democrats he intends on making more cuts in coming years. Markets lower odds of a Fed rate hike in June after two officials say they are in favour of pausing this month. We are live in Moldova where 50 European leaders are meeting to discuss the war in Ukraine with President Volodomyr Zelenskyy expected to attend. Manufacturing activity in China recovers in May according to a private sector survey.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The bill to raise the U.S. debt ceiling clears the first hurdle in the House Rules Committee and faces a House floor vote tonight. Chinese manufacturing contracts further, reaching a five-month low while the services sector activity hits its slowest pace in four months. Asian markets slump as a result. The Nasdaq manages to cross the 13,000-point mark for the first time since August 2022, buoyed by an A.I. tech stock-inspired rally. The Dow, however, is set to post its first negative month in three. Sticking with tech, chip maker Nvidia briefly joins the trillion-dollar club, but falls back towards the end of the session with a market cap of $990bn. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Following a battering for his PSOE party in regional and municipal elections, Spanish Prime Minister Pedro Sanchez calls a snap election for 23rd July. The U.S. debt ceiling agreement is due to face its first test today when it comes up against the House Rules Committee. President Biden says he is confident the bill will pass despite signs of resistance from some GOP lawmakers. Asia markets are mixed with oil slipping as investors await Wall Street’s reaction to the debt deal following the Memorial Day weekend. In the UK, shop price inflation shows no signs of abating, hitting 9 per cent – its highest level in 18 years. 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 and House Speaker Kevin McCarthy hail a debt ceiling deal with a vote on the agreement set for later this week. Markets in Asia respond positively to the news with the Nikkei hitting a 30-year high while U.S. futures trade in the green with oil also up. In regional Spanish elections, Prime Minister Pedro Sanchez’s PSOE party get thumped with the conservative People’s Party making significant gains in key areas. Turkey’s Recep Tayyip Erdogan claims victory in Sunday’s presidential election to extend his hold on power into a third decade.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The White House and Republicans are reportedly inching towards a debt deal that will remain in place until past the 2024 elections. On Wall Street, the Nasdaq closes up 1.7 per cent, powered primarily by Nvidia shares. U.S. Commerce Secretary Gina Raimondo holds ‘candid and substantive’ talks with her Chinese counterpart Wang Wengtao after months of tit-for-tat incidents and raised trade tensions between Washington and Beijing. And we are live in Valencia ahead of pivotal regional elections across much of the country this weekend. The poll is seen as a key test for parties going into this winter’s general election.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Political wrangling over the debt ceiling continues in Washington D.C., prompting Fitch to place the U.S.’ AAA rating on negative watch. House Speaker Kevin McCarthy still manages to strike an optimistic note. There are differing opinions emerging at the Federal Reserve over the future rate path. The most recent FOMC meeting’s minutes show members now less certain that further hikes are needed. Chip maker Nvidia sees shares soar in after-hours trade, adding more than $200bn in value to take its market cap beyond $1tn as the firm posts its largest quarterly beat in 5 years. Florida Governor Ron DeSantis officially throws his hat into the 2024 presidential race. However, his Twitter Spaces announcement alongside owner Elon Musk suffers numerous technical glitches upon launch.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Wall Street is in the red as the debt ceiling negotiations drag on, with the deadline just over a week away. Speaking at the CNBC CEO Council Summit, Goldman Sachs CEO David Solomon says that the chance of recession this year is worsening as inflation remains stickier than predicted. Bundesbank President Joachim Nagel believes the ECB must hike several more times in its fight against inflation in the euro zone as the central bank marks its 25th anniversary. Florida Governor Ron DeSantis is reportedly due to announce his presidential run later today during a special Twitter conversation with billionaire owner Elon Musk. And, according to the Janus Henderson Global Dividend Index, global dividend payouts have soared to a record $327bn during the first quarter this year.   See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

President Biden says talks with House Speaker Kevin McCarthy at the White House have been productive as negotiators seek to strike a debt ceiling deal ahead of the 1 June deadline. Minneapolis Federal Reserve President Neel Kashkari tells CNBC he is open to either hiking rates or skipping an increase next month but warned that investors should not expect a cut any time soon. JP Morgan CEO Jamie Dimon has said he plans to continue as boss of America’s largest bank so long as he is energized by the role. Facebook parent Meta is hit with a record $1.4bn fine by the EU for transferring user data to the U.S. The company has pledged to appeal the decision.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Ukrainian President Volodomyr Zelenskyy attends the G-7 summit in Hiroshima and laments the destruction of the city of Bakhmut which Russian forces claim to have taken over the weekend. U.S. President Joe Biden and House Speaker Kevin McCarthy are to meet at the White House to discuss stalled debt ceiling talks. Biden says the GOP must compromise over its “extreme positions”. China slaps trade restrictions on U.S. chip maker Micron, claiming the company poses security risks. In aviation news, Ryanair posts FY profits of €1.4bn on the back of strong recovery in traffic. However, the carrier warns that its fuel bill will soar by €1bn next year. And in Greece, incumbent Prime Minister Kyriako Mitsotakis claims victory in parliamentary elections but his New Democracy party falls short of an outright majority. New elections are likely to held in the summer.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The G-7 summit kicks off in Hiroshima, Japan. Ukrainian President Volodomyr Zelenskyy will reportedly attend the meeting where Western leaders have vowed to harden their stance against Russia. In the U.S., there are signs an agreement on the debt ceiling could be reached with a vote as a early as next week to avoid a default ahead of the June 1st deadline. Wall Street indices are on track to post their best week since March and in Asia, the Nikkei hits its highest level since 1990. In retail news, Alibaba shares are down after the e-commerce giant missed expectations while Walmart hikes full-year guidance on the back of a robust Q1.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

It appears U.S. President Joe Biden and House Speaker Kevin McCarthy may be closing in on a deal to avert a default. As Biden flies to Hiroshima to attend a G-7 summit, McCarthy tells our U.S. colleagues that the size of the debt issue can no longer be ignored. The optimism pushes the Dow by 400 points and regional banks also surge with Western Alliance reporting strong deposits for the quarter. In retail news, U.S. giant Target sees shares rise on an earnings beat but warns that organised retail theft could cost the company up to $1bn. Deutsche Bank agrees to settle a lawsuit concerning Jeffrey Epstein’s victims with a $75m payout following accusations that the lender enabled the late financier’s sex trafficking activities. Global debt has soared by $8tn in the first quarter this year as rising interest rates drive costs up. Total global debt has now stabilised at 335 per cent of GDP.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Tesla CEO tells our CNBC colleagues Stateside that this year will be challenging for the electric car maker. In a wide-ranging exclusive interview, Musk said that U.S.-China trade tensions should concern everyone. We also hear from Microsoft CEO Satya Nadella who says Musk is wrong to claim that the software maker controls OpenAI. U.S. President shortens his Asian tour to return to help secure a debt ceiling agreement to avoid a default. In banking news, UBS says it will suffer a $17bn hit from its takeover of former rival Credit Suisse as it aims to close the deal by next month. Siemens raises its FY outlook, now expecting comparable revenue growth of 9-11 per cent for the year.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Asian stocks hold steady following disappointing retail and manufacturing data out of China. The U.S. moves closer to a default with no agreement between lawmakers. Budget talks will resume at the White House later today. Ray Dalio’s Bridgewater Capital offloads its shares in 5 of the largest regional American banks following the recent turmoil. However 13- F filings show that two major hedge funds have bought regional bank stakes despite the volatility. The EU passes Microsoft’s $69bn Activision takeover in contrast with the UK’s denial of the deal. The bloc’s anti-trust chief Margrethe Vestager tells CNBC exclusively that the decision is not a contradiction. And President Emmanuel Macron has courted €13bn of blue-chip investment money during the Choose France business summit.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Turkish presidential elections look set to head to a run-off after as neither candidate garners enough support outright but President Erdogan believes he will win another 5-year mandate. In the U.S., the debt ceiling wrangling intensifies as congressional leaders attempt to arrange a deal. President Biden believes a default will be avoided this week. G-7 finance ministers meet in Japan and target Russian energy and trade with tighter sanctions in a bid to blunt Moscow’s war efforts in Ukraine. Meanwhile, Ukrainian president Volodomyr Zelenskyy performs a whistle-stop tour around European capitals in a bid to bolster the region’s military support for his country. In financial news, insurer AXA posts a 1 per cent revenue jump to €32bn in the first quarter but AUM drops by 7 per cent.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

A second presidential meeting on the debt ceiling is reportedly postponed until early next week, while reports suggest Treasury Secretary Janet Yellen will sit down with Wall Street bankers in the coming days. Factory inflation continues to ease across the U.S. with producer prices rising at their slowest rate since January 2021, moderating for the tenth straight month. The Bank of England hikes rates to the highest level in almost 15 years and ditches its forecast for a recession this year. We hear from Governor Andrew Bailey. Shares in PacWest plunge after the regional lender reveals an almost 10% drop in deposits in the first week of May. And Elon Musk claims he has found Twitter's new CEO, saying "she will start" in 6 weeks, with reports suggesting a senior NBCUniversal executive will take the reins.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. inflation eases to its lowest level in two years, giving a boost to the Federal Reserve's war against price pressures. The Yuan slides after Chinese inflation also weakens to a two-year low of just 0.1%, with factory deflation deepening. We have the latest from Threadneedle Street, as the Bank of England looks set to hike rates for a twelfth straight meeting. Disney shares fall almost five percent in extended trade as the House of Mouse sees a decline in streaming subscriptions. The debt ceiling deadlock looms large as G-7 finance ministers meet in Japan.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

America’s debt ceiling standoff continues despite congressional leaders holding talks with President Joe Biden at the White House, as he makes a promise to international creditors. Senate and House chiefs pledge to meet again on Friday as Speaker Kevin McCarthy accuses the Biden administration of waiting too long to sit down with the GOP. New York Fed President John Williams doesn’t rule out further rate hikes as he lauds the FOMC’s fight against inflation, ahead of today’s key CPI print. And Ryanair reveals its biggest-ever aircraft order, inking a $40 billion deal to buy up to 300 Boeing planes. Airline boss Michael O’Leary tells CNBC the firms have settled their differences.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

UBS announces Credit Suisse will operate independently under a consolidated banking group, as a management shake-up sees CS CEO Ulrich Koerner join UBS' Executive Board, as well as a change in CFO. Chinese trade data paints a mixed picture for the world’s second largest economy, with imports contracting almost 8 percent, and export growth stalling. California’s financial regulator admits it failed to press Silicon Valley Bank’s bosses for reform before the lender imploded in March, and pledges to do better in future. Concerns over U.S. financial stability persist according to a Fed survey, while a separate report shows lending requirements are set to tighten for the rest of the year. And, President Biden prepares to welcome congressional leaders to the White House in bid to break the debt ceiling deadlock, as Treasury Secretary Janet Yellen warns of “economic catastrophe” – telling CNBC that lawmakers have only one option.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Berkshire Hathaway CEO Warren Buffett hits out at regulators, politicians and the media for confusing the public on the safety of U.S. banks, despite regional lenders staging a strong rebound on Friday. The Dow jumps more than 500 points as Apple shares surge, with a stronger-than-expected non-farm payrolls report also driving gains. U.S. Treasury Secretary Janet Yellen warns there are “no good options” if Congress fails to raise the debt ceiling, as the Biden administration ramps up the pressure ahead of a June 1st deadline. HSBC shares hit a 2-month high in Hong Kong after the lender successfully rejects a proposal to spin off its Asian business amid pressure from its largest shareholder, Ping An. And, Standard Chartered CEO Bill Winters weighs in on the Fed’s hiking cycle, telling CNBC the market shouldn’t underestimate the resilience of price pressures.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Apple sales decline for the second straight quarter, but shares rise in extended trade as the iPhone maker beats on the top and bottom lines with CEO Tim Cook claiming results were "better than we expected". Wall Street trades in the red for a fourth consecutive session with the Dow turning negative for the year as contagion fears are reignited in the regional banking sector. HSBC bosses prepare for their AGM, amid pressure from the lender's biggest shareholder to restructure and spin off its Asian business. We hear from activist investor Ken Lui. The ECB hikes rates by another 25 basis points with inflation still proving sticky. President Christine Lagarde reiterates the central bank's commitment to fighting price pressures.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The U.S. Federal Reserve hints that it could be nearing the end of the hiking cycle following its tenth consecutive rate rise. However, turmoil remains in the U.S. regional banking system with L.A.-based lender PacWest seeing shares nosedive 52.5 per cent in extended trade. PacWest says it is eyeing strategic asset sales and that deposits have stabilised. On this side of the Atlantic, investors are split over whether the ECB will hike by 25 or 50bps – the central bank’s seventh straight hike. In aviation, Airbus posts slightly lower-than-forecast decline in core earnings with supply chain issues weighing but it insists it will hit production targets. And Qualcomm gives lighter-than-expected sales guidance on weak smartphone demand.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Italian lender Unicredit reports Q1 profit of €2.1bn as revenues grew by 56 per cent. French bank BNP Paribas beats expectations by posting a Q1 income of €2.8bn with CFO Lars Machenil telling CNBC that European banks are robust enough to handle the sector’s recent turmoil. In the U.S., several regional banks lead with losses after JPMorgan’s rescue of First Republic Bank fails to stem the sell-off, pulling Wall Street into the red. German chip giant Infineon launches its new €5bn factory in Dresden benefiting from EU funding. Its CEO Jochen Hanebeck says that Europe must learn to fend for itself against global competitors.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

JPMorgan picks up the remains of First Republic Bank after authorities seize control of the regional lender. It is the second-largest U.S. bank failure in history. JPMorgan CEO Jamie Dimon says his bank answered the government’s call and played down any suggestions of contagion in the sector. HSBC first quarter profits almost triple due to higher rates. The bank also announces its first quarterly dividend in four years. May Day rallies are staged around the world with France seeing up to 800,000 people take to the streets. There are violent scenes in Paris following President Macron’s recent pension reforms. We are live at the WEF Growth Forum in Geneva where the Future of Jobs report has warned that while 69m jobs will be created by 2027, more than 80m could be eliminated.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Wall Street posts its biggest daily move since January as investors seem to shrug off mixed economic signals with Big Tech earnings leading the way. Amazon posts a Q1 earnings beat but warns of a slowing cloud business, pushing shares lower in extended trade. The BoJ keeps policy stable but has tweaked forward guidance and announces a broad review of monetary policy. In the U.S. beleaguered First Republic Bank is reportedly attempting to prevent a federal seizure, seeking private sector aid following a dramatic share slump earlier this week.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

In the U.S. First Republic Bank scrambles to secure a rescue deal as its share price plunges on collapse fears. Deutsche Bank posts its strongest quarterly profit for a decade. The lender reported pre-tax of earnings of €1.9bn and €12bn of inflows. In tech news, Meta shares are at a 14-month high following its first sales rise in three quarters. CEO Mark Zuckerberg insists investment in AI and the metaverse will continue. And Microsoft is denied its acquisition of Activision Blizzard by the UK competition watchdog.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Wall Street is in the red across all three major indices which have suffered their deepest declines this month after First Republic Bank reports more than $100bn of deposit outflows for the first quarter. Standard Chartered beats forecasts with pre-tax profits surging 21 per cent in Q1 on high interest rates and rising trading income. Google parent Alphabet announces a $70bn share buyback and beats forecasts which sends its stock price higher in extended trade. Microsoft follows suit with a beat on estimates thanks to a robust performance from its cloud business. And a potential 2024 U.S. presidential re-match with Donald Trump is on the cards in the U.S. following Joe Biden’s announcement he will run for re-election.  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 Zurich where UBS has posted a 52 per cent drop in net profit for the first quarter. The lender says it does, however, see strong inflows of net new money and highlights its stability ahead of the integration of Credit Suisse. Meanwhile, Santander tops estimates to post a €2.5bn net profit and says it is on track to meet 2023 targets. Deposits at First Republic Bank have fallen by $100bn in Q1, causing the share price plunging. The lender is also set to slash up to 25 per cent of jobs. We hear from Standard Chartered CEO Bill Winters who says that the recent banking crisis is now over. And in luxury news, LVMH becomes the first European company to hit $500bn in market value on the back of a 17 per cent surge in Q1 revenue.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Credit Suisse posts an adjusted pre-tax loss of CHF1.3bn following net Q1 outflows of CHF60bn. The Dow snaps a 4-week winning streak following last week’s U.S. bank earnings with investors bracing themselves for results from the tech sector. Chinese e-commerce giant Alibaba is reportedly set to list its logistics arm in Hong Kong. Several investment banks are interested in under-writing the IPO. And in Germany security workers stage a one-day walk-out over a wage dispute, causing all flights from Berlin to be cancelled.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Tesla appears to hike U.S. prices for its Model S and X cars following yesterday’s share slump by almost 10 per cent as investors scrutinized falling margins. Meanwhile, Mercedes-Benz posts a 15 per cent Q1 return on net sales. Preliminary results also show strong sales and robust pricing. Asian markets are in the red with bond yields coming in lower on the back of several poor U.S. corporate earnings and concerning data reports. We speak to French Trade Minister Olivier Becht who says his country is returning to ‘business as usual’ following the passing of President Macron’s highly unpopular pensions reforms. Demonstrations, however, continue, with rail workers striking and protestors targeting the Euronext exchange in Paris.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Tesla shares are down in extended trade after posting a 24 per cent fall in Q1 net profit. In a conference call, CEO Elon Musk says that following a series of price cuts, he accepts a loss in profits in exchange for growth in sales and market share. U.S. markets are steady following positive results from Morgan Stanley while regional lender Western Alliance shrugs off deposit concerns. This, as the Federal Reserve warns that banks are tightening credit access. We hear exclusively from Israeli PM Benjamin Netanyahu who warns against Chinese involvement in brokering peace in the Middle East. And in retail news, L’Oréal sees sales surge 30 per cent in the first quarter in Europe and North America. However, performance in China is flat since the country’s emergence from strict Covid regulations.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

There are mixed first quarter results for U.S. banks. Goldman Sachs posts a revenue miss while pulling away from its consumer business but BofA beats on higher rates despite CEO Brian Moynihan warning of a recession in the second half of the year. Streaming giant Netflix records a beat on EPS while missing out on revenue after delaying a clampdown on password sharing. Shares have clawed back ground after plunging by 12 per cent in afterhours trade. Atlanta Federal Reserve President Raphael Bostic tells CNBC he believes in a May rate hike and then pause to assess how tightening is affecting the U.S. economy. And in media news, Fox News settles with electoral machine maker Dominion for $788m over its reporting of the 2020 U.S. presidential election.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Chinese GDP grows by 4.5 per cent in the first quarter – faster than expected – following the lifting of strict Covid restrictions back in December. Manufacturing and retail have also show strong signs of rebounding. In the U.S., financial groups Charles Schwab, State Street and M&T witness combined deposit outflows of almost $60bn as investors flee to seek out higher returns. Apple announces it is launching its own higher-yield account. Asian indices are down but Wall Street remains buoyant ahead of further key bank earnings due later today. French President Emmanuel Macron uses a prime time TV address to the nation to defend his controversial pension reforms.   See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. banking earnings see JP Morgan post record Q1 revenues while Citi and Wells Fargo also beat expectations. In France, President Macron signs his controversial pension reform bill into law after the country’s highest court backed the bill and rejected calls for a referendum. Paris saw further protests over the weekend as a result. ECB policymakers have said that the recent banking turmoil has prompted a re-think about the rate hiking path, but Portuguese central bank governor Mario Centeno and his Finnish counterpart Ollie Rehn have told CNBC that pausing prematurely would be wrong. In pharma news, Merck reports promising test results for its mRNA cancer vaccine, while also sealing its $11 billion merger with biotech firm Prometheus. 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 record their best performance so far this month as U.S. PPI data comes in softer than expected. IMF managing director Kristalina Georgieva tells CNBC the Fed must persist in its fight to rein in inflation. We also hear from Austrian bank governor Robert Holzmann who says that recent financial instability may require a stronger rate hike response from the ECB. Paris sees further violence following pension reform demonstrations. Dozens of the capital’s transport workers stormed the headquarters of LVMH ahead of a key ruling from the French constitutional council. And in banking news, HSBC has warned that shareholders’ proposals to restructure the bank will significantly hit dividend payouts. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Bundesbank President Joachim Nagel shrugs off the IMF’s recession warning for Germany, telling CNBC that his country’s economy has improved significantly, having ridden out last year’s energy crisis. Belgium’s central bank governor Pierre Wunsch praises the European banking sector, telling this channel that he estimates that the ECB’s terminal rate will end between 3.5 per cent and 4 per cent. Fed minutes for March push U.S. equities into the red following fears around the banking sector despite last month’s inflation print coming in at its lowest level for almost two years. The IMF’s First Deputy MD says central banks must remain resolute in the fight against price instability. Chinese exports for March come in positive, breaking a five-month slump. And in luxury news, LVMH posts a 17 per cent surge in Q1 sales following strong demand in the Far East.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The IMF warns the world economy is heading for its weakest pace of growth in more than 30 years as it cuts its medium-term outlook. The fund’s chief economist Pierre-Olivier Gourinchas tells CNBC that recent market turmoil has moved the conversation on from growth/inflation onto financial stability versus inflation. Despite the instability seen in the banking sector, the IMF’s Director of Monetary and Capital Markets, Tobias Adrian, believes that financial regulators were correct to move quickly to mitigate contagion. Swiss lawmakers symbolically reject the UBS-Credit Suisse rescue deal at the beginning of an extraordinary parliamentary session investigating the takeover that is expected to last three days. And HSBC swoops for more than 40 former SVB investment bankers as it looks to target health and tech opportunities in 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.

Chinese inflation slumps to an 18-month low with factory gate prices falling for a sixth consecutive month. Asian indices are in the green following dovish comments from the BoJ and BoK with investors banking on looser monetary policy, despite suggestions that the Federal Reserve will continue its rate hiking cycle. In the U.S., markets are flat following Good Friday’s robust jobs data. The CPI print and big bank earnings are due out later in the week. And in tech news, Alibaba announces plans to launch an A.I. rival to ChatGPT across all of its apps.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Weakening employment data and soft services activity in the U.S. provoke recession concerns for investors. The sentiment pushes the Nasdaq up to 1 per cent lower and has spilled over into today’s Asian session. French President Macron is in Beijing holding talks with new Premier Li Qiang in a bid to bring the Chinese onside regarding the conflict in Ukraine. He is due to meet President Xi later this morning. U.S. House Speaker Kevin McCarthy hosts Taiwanese President Tsai Ing-wen in California. Tsai issued a warning about Beijing ramping up regional tensions in the South China Sea region. In Switzerland, the federal government cancels Credit Suisse’s executive bonus programme following the bank’s dramatic rescue by rival UBS.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

JPMorgan CEO Jamie Dimon says the banking crisis is far from over and that after-shocks will be felt for years as the global economy nears recession. We are live in Basel where UBS holds its first AGM since the takeover of Credit Suisse and the return of Sergio Ermotti as CEO. Meanwhile, the board of Credit Suisse faced hostile shareholders at its final AGM with Chairman Axel Lehmann expressing his “grief” at the lender’s fate. In the U.S., February employment openings fall below 10 million which could indicate the Fed’s rate-hiking cycle could finally be cooling the economy. Equities, Treasury yields and the dollar all closed lower on Tuesday. Former U.S. President Donald Trump pleads not guilty to 34 felony counts of falsifying business records over alleged hush-money payments. Trump said he was a victim of electoral interference and a politically partisan judiciary. And, as oil nudges higher following this week’s surprise Opec+ supply cut, Shell CEO Wael Sawan tells our colleagues at CNBC Arabia that significantly higher annual investment into oil and gas are required to meet global demand. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The board of Credit Suisse prepares to face shareholders during its first AGM in four years and what will likely be its last as an independent bank. We are live in Zurich for the latest. The Dow soars by more than 300 points to close its first session of the second quarter as investors attempt to shrug off fears that the sudden Opec+ supply cut could once again flare up inflation. In Australia, the RBA maintains the interest rate at 3.6 per cent but hints that it could once again pick up its hiking cycle. Former U.S. President Donald Trump flies into New York ahead of his arraignment relating to alleged hush-money payments to a porn star. French cosmetics giant L’Oréal acquires Australian brand Aesop in a $2.5bn deal to expand into the high-end natural goods sector.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Oil surges 8 per cent following a surprise Opec+ cut to supply by more than a million bpd in a bid to reportedly stabilise the market. The Nasdaq enjoys its best quarter in almost three years, unfazed by rising interest rates and the recent banking crisis. In Switzerland, prosecutors investigate UBS’s government-backed takeover of Credit Suisse. The new mega-bank is reportedly ready to slash up to 30 per cent of its workforce. March factory activity in China comes in neutral, stoking fears over global demand. In autos news, Tesla deliveries jump by 4 per cent to a new record for the first three months this year. However, the EV maker misses estimates as production outpaces demand.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

UBS and Credit Suisse are reportedly facing interest payments of CHF10bn as the cost of last week’s emergency lifeline emerge. We are live on the shores of Lake Como, Italy where Ambrosetti managing partner Valerio De Molli tells CNBC the banking crisis is still far from over. In the U.S., the Biden administration hopes to tighten rules on mid-sized banks while bypassing Congress. Regional bank shares close lower as a result. European equities, however, shrug off banking sector contagion fears and are set to see off the month in the green. Non-manufacturing PMI in China for March grows at its fastest pace in a decade but factory activity remains sluggish. Former U.S. President Donald Trump has been indicted by a NY grand jury after a probe into hush money paid to porn star Stormy Daniels during the 2016 presidential campaign.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The EU claims the At1 bond wipe-out at Credit Suisse was wrong. We hear exclusively from the Single Resolution Board Chairman, Dominque Laboureix, who says the body would respect the hierarchy of those bondholders in any future banking crisis. In the U.S. Congress, lawmakers accuse Fed regulators of being ‘asleep at the wheel;’, following the collapse of SVB and Signature Bank. The S&P 500 closes back over the 4,000-point mark with tech stocks leading the way as banking sector jitters fade. The Boao Forum opens in China with new premier Li Qiang warns against chaos and conflict while IMF Managing Director Kristalina Georgieva highlights the economic costs of trade fragmentation.   See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

UBS re-appoints its former CEO Sergio Ermotti to take over from Ralph Hamers from the 5th of April. The Federal Reserve’s top regulator, Michael Barr, slams Silicon Valley Bank for its asset management prior to the lender’s collapse. In China e-commerce giant Alibaba spins off its businesses into six units that could potentially opt for separate IPOs. Asian markets are in the green on the news. And U.S. authorities hit FTX founder Sam Bankman-Fried with new charges, this time accusing him of allegedly paying a $40bn bribe to CCP officials.  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’s top banking regulator calls the collapse of SVB “a textbook case of mismanagement”, blaming oversight at the start-up lender as Washington officials set up congressional hearings. Shares at First Citizens Bank soar following the deal with the FDIC to sweep up SVB’s deposits and loans. CEO Frank Holding tells CNBC the move will shore up confidence in the deposit system. Doubleline Capital’s Jeffrey Gundlach urges investors to sell into the rallies after warning a U.S. recession is imminent. And in crypto news, U.S. regulators sue exchange Binance and its CEO CZ for allegedly violating compliance rules to attract American consumers.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

First Citizens Bank has agreed to buy collapsed Silicon Valley from the U.S. FDIC, taking on all its deposits and loans. Regulators are mulling disciplinary action against Credit Suisse as the cost of insuring defaults causes Deutsche Bank to plunge. German Chancellor Olaf Scholz says that comparisons between the two banks should not be made. Chinese industrial profits slump by more than 20 per cent in January and February as rising commodity costs and a bumpy Covid recovery impact manufacturers. In France, Prime Minister Elisabeth Borne is to meet with opposition leaders as violent pension reform protests continue around the country. And in Israel, President Isaac Herzog has called on the government to stop its overhaul of the judiciary after Prime Minister Benyamin Netanyahu sacked the country’s defence minister over his opposition to the plans. The move has triggered mass demonstrations nationwide.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. equities close in the green following a rollercoaster session and are set to end the week higher after U.S. Treasury Secretary Janet Yellen moves to calm contagion fears. The UK, Switzerland and Norway all hike interest rates. BoE Governor Andrew Bailey says that the recent turmoil in the banking sector is not a repeat of 2008. EU leaders meet in in Brussels following the meeting between Chinese President Xi Jinping and Russian President Vladimir Putin and warn that the rapprochement between the two nations poses a ‘big challenge’ for the bloc. TikTok CEO Shou Zi Chew is grilled by U.S. Congress where lawmakers are threatening to ban the controversial Chinese app. Chew insists the company is free from CCP influence. And shares in Jack Dorsey’s payment firm Block slide following accusations by short-seller Hindenberg Research of inflated user numbers and allowing fraudulent paymentsSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The U.S. Federal Reserve raises interest rates by 25bps and hints that the hiking cycle may be close to ending. A cautious Jerome Powell says that recent banking sector turmoil could trigger a credit crunch. U.S. Treasury Secretary Janet Yellen back-tracks on deposit backstops causing equities to plunge and banks to sell off. We also preview upcoming central bank moves at the Bank of England as the UK struggles to bring down inflation as well as at the SNB following the Credit Suisse collapse. In crypto news, the U.S. SEC accuses Coinbase of potential security violations. Bitcoin, however is touching on nine-month highs.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 receive a boost as bank stocks rally with Californian lender First Republic and others leading gains following a promise of protective measures from U.S. Treasury Secretary Janet Yellen. Investors now await today’s Fed rate decision as well as more assurances a potential wider banking crisis will be contained with markets pricing in a 25bps hike. S&P urge investors to reassess their risk tolerance to AT1 bonds following Credit Suisse’s $17bn bond wipeout. Meanwhile, UBS is reportedly moving to unwind Michael Klein’s majority share in First Boston. And in tech news, TikTok CEO Shou Zi Chew is to testify on Capitol Hill, insisting it is not a CCP agent.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Global banks enjoy a relief rally after UBS’s $30bn takeover of beleaguered Swiss rival Credit Suisse. We are live in Zurich for the latest. However, First Republic Bank sees shares plunge once more as news emerges that JP Morgan CEO Jamie Dimon is reportedly leading efforts to stabilise the Californian lender. Credit Suisse bondholders consider legal action against the Swiss state after the government wiped out all bondholders of AT1 debt. UBS’s sees its credit rating revised to ‘negative’ by Moody’s and S&P. In Paris, the government narrowly wins a vote of no-confidence which allows it to push through unpopular pension reforms. Prime minister Elisabeth Borne says the move will secure France’s economic health. In retail news, Amazon is to cut a further 9,000 jobs on fears of economic uncertainty.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

UBS agrees to buy Credit Suisse for CHF 3.2bn in a historic deal that Swiss authorities say was desperately needed to prevent the collapse of the country’s second largest lender. Additional Tier 1 bondholders will be wiped out and UBS will take on more than $5bn of losses. Some of the largest central banks have announced fresh liquidity measures to stem any further fallout. Asian equities are in the red while futures are mixed both in Europe and the U.S. First Republic Bank has its status cut to ‘junk’ by S&P and warns that a recent $30bn emergency deal may fall short.   See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. banks band together, propping up First Republic with a $30 billion rescue deal. Meanwhile, UBS and Credit Suisse reportedly oppose a government-orchestrated tie-up, as the Swiss lender insists its capital position hasn't changed. Wall Street rallies, with banking stocks posting their best day of the year - putting the S&P500 on track for its best weekly performance since January. Investor attention now turns to the Fed and its response to the banking sector turmoil, after the ECB hikes rates by 50 basis points. And protests erupt across France, as Emmanuel Macron exercises his presidential powers to push through his controversial pension reform plan - potentially opening himself up to an immediate vote of no confidence.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Credit Suisse takes a 50 billion franc lifeline from the Swiss National Bank as it looks to restore confidence in the lender, after shares plummet 24 percent. The Chairman of the Saudi National Bank tells CNBC there have been no talks about providing additional financial assistance to Credit Suisse, as he tries to firm up confidence in the embattled lender. European banks brace themselves after a bruising session - that saw the sector plunge 7%, the worst day since Russia invaded Ukraine. Oil recovers some ground after hitting its lowest level since December 2021, amid fears the banking crisis could dent global economic growth. Cracks in the global banking system cast doubt over the ECB's resolve, with market bets clouded on the likelihood of a 50 basis point hike today.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Contagion fears ease, sending global equity markets higher while U.S. core CPI tops estimates, putting more pressure on the Fed in the wake of the SVB collapse. China reports a rebound in consumer spending while real estate investment continues to lag as Beijing's post-covid year gets off to a mixed start. Meta continues its "year of efficiency" announcing another 10,000 layoffs, cancelling thousands of open positions, and stopping low priority projects. And the UK gears up for Chancellor Jeremy Hunt's first budget - expected to unveil key pension and childcare reforms, and push ahead with a controversial rise in corporation tax - which critics say will hit the recovery.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Japanese banks lead losses in Asian trade - as global financial stocks lose almost half a trillion dollars in market value in the wake of Silicon Valley Bank's collapse. U.S. banks post their worst day in three years as ratings agency Moody's places First Republic Bank and five other lenders on downgrade watch. Turmoil in the banking sector sparks a furious rally in U.S. government bonds with the 2-year Treasury yield seeing its biggest three-day decline since 1987. And U.S. measures to prop up the financial system drive bitcoin and other crypto assets higher, easing fears of the sector's exposure to SVB.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. regulators have promised to fully shield Silicon Valley Bank deposits in a bid to shore up the banking sector and calm contagion concerns after a second lender, Signature Bank, is shut down. U.S. futures spike on the news and Goldman Sachs predicts that the Federal Reserve will refrain from raising interest rates next week as a result. In the UK, potential bidders for SVB’s British arm are circling while Chancellor Jeremy Hunt says the government will work to minimise damage from the fallout. Saudi Aramco posts record full-year profits for 2022 of $161bn and announces it will be hiking its dividend.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Wall Street’s top banks suffer a $50bn market cap wipeout following Silicon Valley Bank’s $2bn loss while shedding assets to cover deposit outflows. The rout has triggered contagion fears among those holding bond portfolios and has dragged U.S. indices firmly lower. The Dow is now on track to post its worst week in almost half a year. Asian equities are also down as a result. President Joe Biden unveils his $6.8tn budget blueprint but faces strong opposition from the GOP. Biden is due to hold talks with European Commission President Ursula Von Der Leyen in D.C. where European concerns about the IRA impact will be top of the agenda. In Beijing, President Xi Jinping is re-confirmed as leader for a historic third term. Former Shanghai party boss Li Qiang is expected to be named Premier later this weekend. And in Japan, the BoJ keeps interest rates and yield control policies in place as Haruhiko Kuroda bids farewell as governor. 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 reiterates his message that the central bank will speed up the pace of rate hikes should it deem it necessary. The jobs market data remains stubborn but Powell insists that March’s rate decision is not yet a foregone conclusion. In China, inflation has slowed to its slowest pace since last February on weaker consumer activity while factory deflation continues to a fifth consecutive month. Kazuo Ueda is approved as the new BoJ governor by the country’s parliament as the central bank attempts to end decades of ultra-loose monetary policy. In crypto news, lender Silvergate has announced it is closing down and returning deposits. And JP Morgan is to sue its former executive and ex-Barclays CEO Jes Staley for failing to disclose his ties with deceased convicted sex offender Jeffrey Epstein. 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 warns of a return to a 50bps interest rate hike this month as the jobs market and inflation show little signs of cooling. U.S. indices plunge on Powell’s Senate warning with the Dow lower year-to-date while the 2- and 10-year yield inversion reaches its steepest rate in four decades. The White House has endorsed a bill proposed by a bipartisan group of senators which would allow the Biden administration to block foreign technology applications such as China’s Tik Tok which it could pose a potential national security threat. And on International Women’s Day, IMF Managing Director Kristalina Georgieva tells CNBC that female input is vital to solving today’s global economic problems. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

President Xi Jinping accuses the U.S. of hampering China’s development while Foreign Minister Qin Gang says the two nations could be on course for confrontation. January and February import and export data out of Beijing comes in weak as China’s exit from zero-Covid restrictions is hobbled by supply chain bottlenecks and slowdown concerns. BofA CEO Brian Moynihan and JP Morgan boss Jamie Dimon are both cautious about the U.S. economic forecast ahead of this week’s Congress testimonies by Federal Reserve Chair Jerome Powell. And Down Under, the RBA increases rates by 25bps but softens its forward guidance.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

China forecasts a more modest 5 per cent growth as it opens its annual National People’s Congress. Premier Li Keqiang praised the economy’s resilience amid a challenging global environment. Chinese stocks, however, are down but the rest of Asia is in the green following last week’s positive close on Wall Street. Harris Associates offloads its remaining Credit Suisse stake citing a lack of confidence in the lender’s new strategy, accusing it of burning through capital. And in tech news, UK chip maker ARM hopes to raise $8bn to reach a valuation of $50bn after opting to list in New York rather than London.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Chinese services activity in February surges to its fastest pace in six months ahead of the National People’s Congress where the CCP is set to tighten control over several key institutions. Atlanta Fed President Raphael Bostic supports a 25bps rate hike which bumps up U.S. indices while the 2-year Treasury bill to its highest level in a decade. At the G20 in New Delhi, India, U.S. Secretary of State Antony Blinken slams Moscow’s aggression following a brief meeting with his Russian counterpart Sergei Lavrov. It’s the first time the two have met in person since the invasion of Ukraine. Oil is on track for weekly gains but Saudi Aramco CEO Amin Nasser tells CNBC he is concerned about under-investment as Chinese demand returns.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Tesla held its annual investor day but Elon Musk’s Master Plan 3 fails to deliver specific details despite a pledge to halve assembly line costs. The EV maker’s shares fell in extended trading. The U.S. 10-year Treasury yield hits 4 per cent for the same time since November. Equities plunge as investors struggle to accept a persistently higher rate environment. Minneapolis Fed President Neel Kashkari says he is likely to keep pushing rates higher this spring. In Europe, markets are down and bond yields climb to multi-year high as Germany warns of rising inflation. We hear from Bundesbank President Joachim Nagel who says he expects the ECB to keep hiking rates over the coming months. In the UK, however, BoE Governor Andrew Bailey says further rate hikes are not a given. And in banking news, activist investors are demanding a vote at the HSBC AGM in May as they seek to spin off the lender’s successful Asian business units.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Chinese PMI data rises at its fastest pace in more than a decade, pushing Asian indices into positive territory. However, Wall Street finishes February in the red, its second negative month in three. The 10-year Treasury bill briefly nudges its highest rate since November on the back of stickier inflation concerns. Goldman Sachs’ investor day flops with CEO David Solomon suggesting a potential sale of parts of its consumer banking arm after mistakes were made. Spanish lender Santander is to return half of its profits to shareholders as it targets ROTE of up to 17 per cent as part of its new three-year strategy. Executive chairman Ana Botin tells CNBC higher rates have pushed the bank to deliver record FY profits. And we are live in Barcelona at Mobile World Congress where Cisco CEO Chuck Robbins tells us A.I. opportunities for telcos are limitless.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

UK Prime Minister Rishi Sunak seeks support for the new Northern Ireland Brexit trade agreement with the EU. We are live in Westminster for the latest. U.S. indices are up but still on track to record February in the red. Europe’s STOXX 600, however, surges, more than doubling the S&P 500’s return so far for 2023. Recruitment firm Adecco posts rising Q4 revenue but net profit is down 65 per cent. And in telco news, as Huawei spin-off Honor moves into the foldable smartphone market, we hear from EY CEO Carmine Di Sibio at Barcelona’s Mobile World Congress who says U.S. relations with China will continue deteriorating as firms seeks to move supply chains out of the country.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 suffered their worst week of the year so far following disappointing inflation data. Cleveland Federal Reserve President Loretta Mester tells CNBC that she will maintain her rate stance to help rein in price stability. Billionaire investor Warren Buffett defends share buybacks following criticism of the practice as Berkshire Hathaway posts a $23bn annual net loss. UK Prime Minister Rishi Sunak is to hold talks with European Commission President Ursula Von Der Leyen today in a final bid to secure a new Brexit deal for Northern Ireland. German lender Commerzbank is due to relist on the DAX after a four-year absence to make way for then-rising star Wirecard.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Today marks the sombre one-year anniversary of Russia’s invasion of Ukraine. Leaders of G-7 nations and many others around the world pledge further support to Kyiv, condemning Moscow’s invasion. The S&P 500 is finally in the green following a four-day losing streak – its worst week of 2023 so far. JP Morgan CEO Jamie Dimon tells our colleagues Stateside that the Federal Reserve has lost some control over inflation and that interest rates could still hit 6 per cent. In Japan, inflation hits a 41-year high but incoming BoJ governor Kazuo Ueda believes it to be “appropriate” to maintain the country’s ultra-loose monetary policy. And in crypto news, former FTX CEO Sam Bankman-Fried faces several new federal charges including conspiring to make illegal political donations and banking fraud.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 lists its fourth day of losses as Federal Reserve minutes show the central bank is determined to bring rates down. St Louis President James Bullard tells CNBC the Fed is ready to react should inflation refuse to budge. Russian President Putin hosts Chinese Foreign Minister Wang Yi in Moscow in a show of deepening ties between the two countries. In Warsaw, Bucharest 9 leaders pledge to shore up NATO’s eastern flank with Sweden and Finland pushing for their speedy accession into the alliance. We hear from Swedish defence minister Pål Jonson who says NATO will benefit from the two Nordic nations’ specific assets and capabilities.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Dow suffers its worst day of the year so far, falling almost 700 points and Treasury yields are at fresh highs. Cautious U.S. retail guidance has increased concerns over consumer demand. In Japan, the central bank buys up more emergency bonds after the 10-year JGB crosses a key limit for the second trading session. Russia withdraws from the landmark START deal with the U.S. sparking fears of nuclear tests being resumed by Moscow. We are live in Warsaw where President Biden pledges unwavering support for Ukraine in a key speech ahead of the one-year anniversary of the Russian invasion. We are also live in Stockholm where the leaders of Sweden and Finland urge Turkey to approve their countries’ accession to NATO. And in gaming news, Microsoft holds talks with EU officials to approve its planned $69bn acquisition of ‘Call of Duty’ maker Activision Blizzard.   See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

High interest rates and China’s post-Covid reopening helps to double HSBC’s quarterly pre-tax profit. CEO Noel Quinn tells CNBC that the forecast for 2023 remains positive. U.S. President Joe Biden arrives back in Poland following his surprise trip to Kyiv where he promised President Volodomyr Zelenskyy additional military support and unity in the face of Russian aggression. We are live in Warsaw ahead of the one-year anniversary of Moscow’s invasion of Ukraine. BHP sees profits fall in H1, prompting the miner to cut its dividend. However, CEO Mike Henry is confident Chinese metals demand will pick up as the country reopens.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The U.S. and China exchange diplomatic barbs over the weekend during the Munich Security Conference following the shooting down of a suspected Chinese spy balloon earlier this month. Almost one year after the Russian invasion of Ukraine, NATO Secretary-General Jens Stoltenberg tells CNBC that Beijing will be watching the outcome of the war closely. As EU leaders discuss massive additional military support to Kyiv, we hear from Ukrainian Foreign Minister Dmytro Kuleba who denies allegations of corruption at the top his government.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. producer prices rise more than expected fuelling new inflation fears and sending U.S. indices more than 1 per cent into the red. Asian markets follow suit. The Fed Reserve’s Loretta Mester and James Bullard both call for a return to 50bps hikes in March in a bid to temper inflation. President Biden has pledged to address last week’s spy balloon incident with Chinese President Xi Jinping with U.S. authorities set to hold bilateral talks with their Chinese counterparts at this weekend’s Munich Security Conference. China Renaissance shares fall after it is revealed the boutique advisory company’s CEO Bao Fan is missing amid reports the dealmaker may have fallen foul of Beijing. And in autos news, Tesla will install an upgrade to its self-driving system in 360,000 vehicles over crash concerns.    See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Standard Chartered posts a 28 per cent surge in full-year profits and also launches a $1bn share buy-back programme. U.S. consumers brush aside cost concerns with retail sales hitting their highest monthly gain in almost two years. In aviation news, Airbus outperforms expectations with a 16 per cent rise in full-year profits. However, the plane maker remains cautious on delivery targets which remain in line with last year. Tesla agrees to share its charging points with other EVs to boost President Biden’s green federal funding package.   See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. inflation is down in January but still comes in hotter than expected at 6.4 per cent. Global markets are slightly down with only the Nasdaq posting a positive session. TSMC shares sell off after Berkshire Hathaway cuts its stake in the chip maker by more than 85 per cent while increasing its Apple holdings. In luxury news, LVMH appoints U.S. rapper Pharrell Williams to lead its menswear design arm.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Japan’s government confirms Kazuo Ueda as its nominee to lead the BoJ with market analysts anticipating the new governor will keep the country’s monetary policy loose but to scrap yield curve control. We await today’s U.S. CPI data with investors hoping on seeing further signals of inflation easing despite Fed officials remaining hawkish. There are suggestions the EU may swerve recession with attention now focusing on the bloc’s heavy debt load. EU Commissioner Valdis Dombrovskis tells CNBC that the EU’s economy remains robust despite slow growth rates. U.S. and Chinese authorities are reportedly considering a face-to-face meeting at this weekend’s Munich Security Conference amid ongoing spy balloon accusations.  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 and Nasdaq finish their worst week in more than a month as investors brace themselves for U.S. CPI data out later this week as well as further rate hikes to rein in inflation. The weak sentiment crosses the Pacific with Japan’s Nikkei leading losses. Questions linger over whether prospective BoJ governor nominee Kazuo Ueda would move against the country’s ultra-loose monetary policy. The U.S. Air Force has shot down a fourth flying object in American air space in just eight days – this time over Lake Huron – as Washington moves to blacklist 6 Chinese firms suspected of being linked to the spy balloon downed over the coast of South Carolina. And in sports news, the Kansas City Chiefs beat the Philadelphia Eagles 38-35 in Superbowl LVII.   See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Standard Chartered shares dip sharply in Hong Kong after First Abu Dhabi Bank denies reports it is lining up a $35bn takeover of the Asia-focused UK lender. Inflation data in China comes in below expectations as factory gate prices continue to fall while CPI surges. The proxy fight between Disney and billionaire investor Nelson is now over after CEO Bob Iger announced vast reorganisation and cost-cutting plans at the entertainment giant. The two have now told CNBC that they will now share a joint vision for the company. In luxury news, L’Oréal sees Q4 profits jump by 8 per cent, helped along by strong showings in Europe and the U.S. However, strict Covid restrictions in China slowed growth in the quarter. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

We have a slew of European corporate earnings. Credit Suisse posts a consecutive net loss of CHF7.29BN for last year. However the outflow of business grabs the headlines with up to CHF111BN leaving the lender. Siemens smashes Q1 forecasts and raises its FY sales and profits guidance. Stateside, Disney stocks are up in after-hours trade after returning CEO Bob Iger announces a raft of reforms, including 7,000 job cuts and $5.5bn in cost-cuts. And Alphabet shares plunge following an error made by its A.I. chatbot in a promotional video clip.   See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

President Biden addresses Congress in his State of the Union speech, taking aim at China and big business while hailing his own economic agenda in its role in fighting inflation. The dollar is down and Treasury yields rise following Federal Reserve Chairman Jerome Powell’s comments that further rate hikes may still be on the table if inflation fails to stabilise. French lender Société Générale posts Q4 net income falling by 35 per cent but still beating expectations. Volkswagen reports a rise in FY sales and profit despite weak deliveries. There is little progress following Inflation Reduction Act talks between French and German economy ministers. WTO director-general Ngozi Okonjo-Iweala tells CNBC she hopes Brussels and Washington can still avoid a trade confrontation.   See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Softbank posts a fourth consecutive quarter of losses at the investor’s Vision Fund. CEO Masayoshi Son is to miss the earnings call for the fist time ever. French lender BNP Paribas reports a 9 per cent rise in full-year profits but CFO Lars Machenil tells CNBC that the macro environment remains uncertain. Q1 net loss more than doubles at Siemens Energy due to charges at its wind division Gamesa. However CEO Christian Bruch the pipeline is still strong. U.S. President Joe Biden is due to deliver his second State of the Union address and is expected to hail his landmark climate legislation but he is likely to be dogged by questions over his handling of a suspected Chinese spy balloon. And in south-eastern Turkey the death toll continues to rise after the region was hit by two massive earthquakes on Monday morning.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The US shoots down a suspected Chinese spy balloon, drawing an angry response from Beijing as Secretary of State Antony Blinken cancels what would have been the Biden administration's first cabinet visit to China. Wall Street takes a step back after the January jobs report blows past forecasts, but tech stocks still see a five-week rally - the longest run since November 2021. The yen dips as the market digests reports that one of the most dovish candidates, Masayoshi Amamiya, has been sounded out as a potential successor to Haruhiko Kuroda at the head of the BOJ. Adani's stock slide enters a third week, as Adani Enterprises reportedly postpones a bond sale, and Moody's downgrades its outlook on two of the group's companies.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Apple posts its first profit miss in seven years as demand for its high-end iPhones drops on production issues and a softer macroeconomic environment. In other tech earnings news, Alphabet flags slower ad revenues, and Amazon struggles on weaker consumer sentiment. Meta surges to one of its best days in almost a decade, pushing the Nasdaq to its highest level since September. Top executive Nicola Mendelsohn tells CNBC the tech giant's strategy shift is paying off. The ECB and BOE both hike rates by 50 basis points, while a change in wording at the Bank of England sparks speculation rates are now at or near the peak. Governor Andrew Bailey tells CNBC it's too soon to be sure. Adani Group losses spiral past $100 billion since late January, as a short-seller's accusations of fraud spark an intensifying crisis at the Indian conglomerate.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

We have a slew of European corporate earnings this Super Thursday including Deutsche Bank, Roche and Santander, ahead of key central bank decisions. Stateside, the Federal Reserve slows the pace of rate hikes to deliver its smallest increase in a year. Chairman Jerome Powell hints that the central bank will again hike in March despite signs of cooling inflation. We await interest rate decisions from the BoE and the ECB later today as euro zone inflation eases for a third consecutive month.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Struggling tech stocks surge on the Nasdaq, helping the index to its best yearly start since 2001. The S&P 500 also enjoys its best January in four years. The private Caixin survey shows Chinese factory activity shrinking for a sixth consecutive month, which contrasts more optimistic government figures. Snap shares are in the red in extended trade as falling digital advertising spend weighs. Meta shares are also down ahead of its Q4 earnings due out later today. Paris sees huge demonstrations against President Macron’s pension reforms as a number of countries brace for industrial action on Wednesday. The UK will see its biggest mass walkout in 12 years.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Markets in Asia follow Wall Street downwards as cautious investors brace for a slew of tech earnings and central bank moves later this week. Swiss lender UBS posts a 23 per cent surge in Q4 net profit, beating bottom-line expectations. China’s economy swings back to growth as disruption fears following the country’s emergence from strict Covid restrictions fade. The IMF hikes its global economic outlook for the first time in a year with the UK lagging behind among developed economies. Speaking to CNBC, the IMF’s chief economist, Pierre-Olivier Gourinchas urges vigilance. And we are live at the annual Baker Hughes meeting in Florence. The company has announced a new exploration partnership with Fortescue Future Industries.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

As the week-long Chinese Lunar New Year holiday ends and trade restarts, the CSI 300 index nears bull market territory. Renault and Nissan are set to announce the details of their restructured tie-up. Renault is to slash its stake in the Japanese car maker down to 15 per cent. Oil is up on optimism following the end of the Chinese New Year. BP, however, is bearish on the demand outlook and has pared back its long-term guidance. American, Dutch and Japanese authorities are moving closer to a deal which would restrict China’s ability to buy advanced chip technology.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 are up following a slew of economic data and Q4 earnings. Tesla helps bump the Nasdaq up by almost 2 per cent. The American economy grows more than expected in the final quarter of 2022 with hopes that the Federal Reserve can attain a ‘soft landing’. President Biden hails the numbers, saying it proves his economic plan is having a positive effect. Russia launches attacks on several Ukrainian cities following Kyiv’s securing of heavy tank deliveries from Western allies. Luxury giant LVMH posts record FY profits for the second year running, welcoming the return of Chinese high-end shoppers.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Tesla posts a Q4 earnings and revenue beat on both the top and bottom lines, causing the stock price to surge. CEO Elon Musk says price cuts for Tesla cars have boosted demand. In Hong Kong, the Hang Seng moves almost 2 per cent as it kicks off the Chinese New Year of the Rabbit. In Japan, the Nikkei is down as BoJ minutes reveal division about the country’s inflation. The U.S. and Germany sign off on delivery of Abrams and Leopard tanks to Ukraine with Presidents Biden and Zelenskyy both hailing the moves as crucial in countering Russian aggression. And investors are bracing for U.S. GDP figures out later today as forecasts put Q4 growth at 2.4 per cent.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Microsoft stutters in extended trade after it posted the slowest quarterly revenue growth since 2016. The NYSE suffers a technical glitch which stops trade in 251 stocks. Several trades will now be cancelled. Markets closed mixed but the Dow posted its third consecutive session in the green. Tesla CEO Elon Musk tells a California jury he was not bound by any commitments in 2018 when he tweeted he had secured the funds to take the EV maker private. Returning South Korean stocks help push Asian markets to a seven-month high but Australia equities disappoint with inflation hitting a 33-year high. And following months of discussions, the U.S. and Germany are reportedly set to deliver Abrams and Leopard tanks to Ukrainian forces.   See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. equities rally lead by tech stocks as the market anticipates a 100 per cent chance of the Federal Reserve paring back next week’s rate hike to 25bps. Audio streaming giant Spotify is to announce job cuts of up to 6 per cent as Google boss Sundar Pichai says he had to act decisively in the face of faltering growth. Qatar’s investment arm has upped its share of Credit Suisse as the lender turns to the Middle East to help fund its restructuring strategy. There are growing calls from Kyiv and various EU capitals for Germany to green-light its Leopard tank deliveries. NATO Secretary-General Jens Stoltenberg is to hold talks with new German defence minister Boris Pistorius today.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The IMF hints it may upgrade the global growth outlook for the year as the economic forecast shows early signs of brightening. Speaking during a CNBC panel at the World Economic Forum in Davos, managing director Kristalina Georgieva warned that rising rates could still hamper an upturn. The dollar falls on expectations of less aggressive Fed rate increases while the euro hits a nine-month high after ECB President Christine Lagarde tells CNBC there are more 50bps hikes to come. Tech stocks are in focus ahead of earnings this week after the Nasdaq posts its third consecutive week of gains. In China, a major Covid exit wave looks unlikely as up to 80 per cent of the population has already been infected, according to top scientists. German Chancellor Olaf Scholz and French President Emmanuel Macron meet in Paris and vow closer EU ties in the face of greater economic competition from the U.S. and geo-political threats from Moscow.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Japanese inflation hits a 41-year high of 4 per cent last month, which is twice the BoJ’s target as the central bank sticks with its ultra-loose policy. We hear from Dutch Prime Minister Mark Rutte who says he does not believe the U.S. IRA was intended to hurt EU economies but the move has impacted businesses within the bloc. U.S. markets are in the red for the week as jitters over the Federal Reserve’s rate path dampens sentiment. Activist Greta Thunberg slams WEF policy makers for not prioritising climate concerns. And in crypto news, lender Genesis officially files for bankruptcy, holding liabilities of $11bn.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

There are renewed U.S. recession fears following weaker-than-expected retail and PPI data. Wall Street plunges into the red while the 10-year Treasury yield hits its lowest level since September. Goldman Sachs CEO David Solomon, however, tells CNBC he believes sentiment is softening and is hopeful of a softer landing both Stateside and in Europe. Several Fed officials, including James Bullard and Loretta Mester say the U.S. policy rate should top 5 per cent during a new round of hawkish commentary. We speak to new Credit Suisse CEO Ulrich Koerner who says the bank’s business restructuring strategy is progressing smoothly as the lender scrambles to retain its top staff. And in crypto news, lender Genesis is set to file for bankruptcy while U.S. officials detain the founder of the Bitzlato exchange for allegedly handling more than $700m in illicit funds.   See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Stocks in Japan surge as the yen posts its worst session in almost three years and the JGBs fall back as the BoJ insists it will continue its yield curve control procedure. We hear from Polish President Andrzej Duda who says that Russian President Vladimir Putin is on the back foot in Ukraine, calling on allies to further increase support for the nation. German Finance Minister Christian Lindner tells this channel that a trade war with the U.S. must be avoided and that Brussels should work hand-in-hand with Washington to combat inflation. In banking news, Goldman Sachs posts its worst profit miss in almost ten years with rival Morgan Stanley also underperforming. However, U.S. bank CEOs in Davos predicted a more gentle recession this year. Chinese Vice Premier Liu He is set to meet with U.S. Treasury Secretary Janet Yellen in Zurich as Beijing reports a steady increase in full-year FDI.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Chinese annual GDP has come in at its second-worst rate since the Cultural Revolution, growing at only 3 per cent – well below its official 5.5 per cent target. The country’s population also contracted for the first time in six decades. We hear from Spanish Prime Minister Pedro Sanchez who says the EU should follow the U.S. lead on fighting inflation and that he hopes a trade war could be avoided. The World Economic Forum kicks off in its annual winter slot for the first time since 2020 in Davos. ‘Polycrisis’ and fragmentation risks are two central themes this year as the IMF warns the developing world is falling behind. Up to two-thirds of global economists are braced for recession within a year while CEO confidence has fallen to a more than 10-year low. And in Japan, the BoJ holds its two-day policy meeting. The 10-year JGB has surpassed the 0.5 per cent threshold for the third consecutive session.   See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The 10-year JGB breaks the BoJ’s ceiling for a second day while the yen surges. The central bank is now under pressure to begin tightening monetary policy. The IMF has a dire warning ahead of this year’s World Economic Forum meeting in Davos, predicting that economic fragmentation could cause global GDP to fall by up to 7 per cent. On Wall Street, U.S. banks post a mixed set of Q4 results amid increased provisioning and downturn concerns. Bank of America CEO Brian Moynihan says 2023 will see likely see a ‘mild recession’ in early to mid-2023. Credit Suisse is reportedly to slash 10 per cent of its investment banking staff as part of its next wave of restructuring.   See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

US consumer prices for December plunge at their steepest rate since April 2020. The headline CPI of 6.5 per cent is the smallest annual rise in more than a year. Despite Fed officials Patrick Harker and James Bullard insisting that rates will continue to rise, there are hopes the central bank could start cutting them later this year as inflation eases. In China, December exports hit their lowest level since February 2020, while Covid infections have continued to hamper domestic demand. Tesla is set to slash EV prices Stateside on its most popular models by 20 per cent in a bid to claw back market share following a rollercoaster 2022. And U.S. AG Merrick Garland appoints a special counsel to investigate classified documents found at President Biden’s home and private offices.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Asian markets are at a seven-month high on the back of the Nasdaq’s first four-day rally since last September. Investors are now awaiting the U.S. inflation data later today. In China, the CPI accelerates in line with falling Covid restrictions. However, factory prices are unexpectedly down, hampered by continuing snags in the global supply chain. Disney shares are up on the announcement that Mark Parker is to become the next chairman. Activist investor Nelson Peltz is denied a seat on the board at the entertainment giant. The world’s largest chip maker, TSMC, posts a near-80 per cent surge in Q4 profits of close to $10bn. And we hear from WEF managing director Saadia Zahidi ahead of next week’s Davos annual meeting. She tells CNBC that the cost-of-living crisis and climate change are the most grave crises facing the globe. 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 he recognises the pain of rising interest rates but insisted that the central bank needs to maintain its independence to successfully make difficult policy decisions. The Hang Seng leads Asian markets into the green as China continues to reopen follow. The World Bank cuts its global growth forecast almost by half warning that the economy is on pace for its weakest growth in 30 years. President David Malpass tells CNBC that despite the gloom, China’s reopening is a ‘key variable’. Airbus remains well ahead of Boeing as the world’s top plane maker with 2022 deliveries climbing by 8 per cent. And in France, a nationwide strike is announced for next week following the government’s move to extend the retirement age from 62 years to 64 in order to avoid a major structural deficit.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The New Year Wall Street rally stumbles with the Dow and S&P 500 closing in the red after the Fed Reserve’s Raphael Bostic and Mary Daly confirm that although hikes will slow the terminal rate will likely surpass the 5 per cent mark. Markets in China pull back somewhat following the reopening bounce. State officials say that several regions are now past the peak of Covid infections. Pfizer CEO Albert Bourla tells CNBC is could begin to manufacture its Paxlovid dose with a local Chinese partner within a matter of months. French President Emmanuel Macron’s government is set to roll out its pension reform plan, putting it on a collision course with unions and left-wing MPs. And in the UK, the government fails to agree a pay deal with various unions, potentially setting up more strike action this winter.  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 rally to their best daily performance since November as a favourable December jobs reports raises hopes of a soft landing Stateside. CNBC hears exclusively from Atlanta Federal Reserve President Raphael Bostic who says that the pace of hikes could slow if there are signs of loosening in the labour market. Asian markets are in the green as China opens its borders and scraps Covid quarantine rules for the first time in three years. Alibaba shares are up as Ant Group founder Jack Ma gives up control of the company, easing tensions with the Chinese Communist Party. Ant now insists it will not relaunch an IPO. And in Brasilia, Brazil, hundreds of Jair Bolsonaro supporters storm the nation’s Congress, Supreme Court and other government buildings following last week’s inauguration of President Luiz Inacio Lula da Silva.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Stronger-than-expected employment data Stateside fuels concerns about further Fed tightening, pushing U.S. markets into the red. Kansas City Federal Reserve President Esther George tells CNBC that she believes rates will stay higher until at least 2024. In China, mortgage rules are loosened to help boost a flagging property sector and authorities are reportedly prepared to ease ‘three red line’ limits on developer borrowing. In tech news, Samsung Electronics expects to see Q4 profit slump by almost 70 per cent on the back of soft demand for smart phones and chips. The collapse of crypto exchange FTX prompts Silvergate Capital to cover $8bn in withdrawals. And Kyiv has rejected an Orthodox Christmas truce offered by Moscow while clinching U.S., German and French deals for armoured vehicles.   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 signals that it will maintain rates at a higher level for longer following the release of December’s FOMC meeting’s minutes. It is expected to slow the pace of hikes while ruling out any cuts this year. U.S. markets are in the green for the first time this year amid a dip in manufacturing activity and a strong employment scenario. China’s service sector contracts for the fourth consecutive month as rising Covid rates hamper consumer demand. The EU urges a coordinated testing regime on Chinese arrivals to the bloc while the WHO accuses Beijing of opacity over its Covid data. E-commerce giant Amazon announces it will cut up to 18,000 jobs as lay-offs increase throughout the tech sector.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Apple’s market cap falls below $2tn on the first trading day of the year as shares slump. The iPhone maker’s decline continues into 2023 after a year which saw its valuation drop by $1tn. Tesla misses Q4 delivery estimates, causing shares to slump 12 per cent. CEO Elon Musk now faces an investor backlash over demand and supply chain concerns. Forecasts of warmer winter temperatures push U.S. and European natural gas prices lower, helping to ease inflationary pressures in Germany. In Washington, House Republicans are in disarray after failing to elect Kevin McCarthy as Speaker after three votes – the first majority leader not to receive his party’s backing in a century. And in New York, former FTX CEO Sam Bankman-Fried has pleaded not guilty to federal fraud charges. His trial date is set for October.   See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Global markets start the new year positively after Wall Street posted its worst-performing year since 2008. IUMF Managing director Kristalina Georgieva has warned of a tough 12 months ahead. Chinese manufacturing activity at state firms hovers near a three-year low following the abolition of Covid regulations. President Xi Jinping has told his nation that the next phase in its Covid response would prove to be challenging. In corporate news, Tesla has posted record Q4 production and delivery numbers but misses estimates as supply chain issues and recession concerns continue to weigh. CNBC learns that Sam Bankman-Fried will plead not guilty to fraud charges over the collapse of his FTX cryptocurrency exchange.  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 end 2023 in the green with the S&P500 recording its best day all month and the Nasdaq claws back some of December’s losses. However, Wall Street as a whole is still on track to mark its most torrid year since the Great Financial Crisis. In China stocks are up despite the country suffering a huge Covid exit wave with several nations imposing travel restrictions on Chinese nationals. Oil prices end 2023 on a high after a bumper year for IOCs. Investors are now eyeing China’s reopening and Europe’s energy crunch in the new year. Russia continues to pound Kyiv with missiles following its largest aerial assault since the start of the war. U.S. President Biden has pledged more support for Ukrainian forces in his 2023 spending bill.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Equities around the world continue to pull back at year-end. U.S. markets are set for their worst year since 2008, amid the backdrop of China’s post-Covid reopening. Several Asian nations, the U.S. and Italy re-impose testing demands on Chinese travellers following positive Covid results among 50 per cent of passengers arriving on two flights in Milan. Exxon is taking the EU to court over its windfall tax rules following the increase in levies ordered by Brussels. And in tech news, Apple shares tumble to a one-year low below a key $129 technical level. Investors are now bracing for the tech rout to spread into other sectors.  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 make a tepid return to trade as the China re-opening rally stutters. The S&P500 is now on course for its seventh-worst year ever. As Beijing unwinds its zero-Covid restrictions, the Hang Seng outperforms in Asia. Hong Kong is reportedly set scrap its Covid testing and vaccine mandate rules for international travellers. Russia has vowed to ban oil sales to any country abiding by the West’s $60 barrel price cap. And in auto news, Tesla is forced to pause production at its Shanghai plant causing shares to fall by more than 10 per cent – their worst performance by month, quarter and year to date.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

China scraps its quarantine rules for international travellers as its continues to wind back Covid restrictions, marking its biggest push yet towards reopening its borders since the pandemic. Violent blizzards hit much of the U.S. through the Christmas weekend, with tens of thousands of homes left without power and scores of flights grounded. Ukraine's Foreign Minister Dmytro Kuleba says Kyiv would be open to a UN-backed peace summit aimed at ending Russia's invasion, but stresses he wants to see Moscow pay for its actions.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. equities see the sell-off resume, killing off hope of a Santa Clause rally with tech stocks leading the losses. Billionaire investor David Tepper tells CNBC he is bearish on stocks. Tesla shares are down almost 9 per cent on demand concerns but manages to claw back some losses in extended trade. CEO Elon Musk will now not sell off any more shares until 2025. Border Force staff in the UK go on strike sparking travel chaos while in the U.S. thousands of flights are grounded by a ‘bomb cyclone’ winter storm. Former FTX CEO Sam Bankman-Fried is released on a $250m bail and ordered to remain under house arrest as he awaits trial for federal fraud charges.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Wall Street enjoys a second consecutive day in the green, boosted by better-than-expected data and strong earnings from Nike and FedEx. Ukrainian President Volodomyr Zelenskyy addresses the U.S. Congress during his first trip abroad since the Russian invasion, saying that next year will be a turning point in the conflict against Russia. FTX founder Sam Bankman-Fried has been extradited to the U.S. as two of his top executives plead guilty to federal fraud charges in New York. In tech news, U.S. chip maker Micron’s share slump after it suspends bonuses and announces it is slashing its workforce by 10 per cent following a first-quarter loss.  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 break a four-day losing streak but indices are still set to post their worst year since 2008. The BoJ’s yield curve tweak pushes the yen to its strongest in more than 4 months. Ukrainian President Volodomyr Zelenskyy has announced his first foreign trip since the start of the conflict. He is due to meet President Joe Biden and address the U.S. Congress later today. U.S. sportswear giant Nike sees shares soar by 12 per cent in extended trade after beating expectations and raising its guidance. Elon Musk is reportedly searching for someone “foolish enough” to take over from him as Twitter CEO following the result of his own online poll.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

In a surprise move the BoJ loosens its yield curve control band causing the yen to pop and the Nikkei to sell off in what is seen to be a hint that the central bank is tightening monetary policy. In the U.S. hopes of a Santa rally fade as Wall Street posts its fourth consecutive session in the red as recession concerns show no signs of abating. Meta shares slump following an EU ruling which show the tech giant had breached anti-trust rules. It may now be fined up to $12bn. And in energy news, EU countries have agreed a gas cap compromise that would come into effect from February. However, Hungary has already voiced its opposition to the ‘dangerous’ measure saying it would leave European energy supplies vulnerable.   See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Wall Street is in the red and Asian markets follow suit after a week of hawkish messaging from the world’s largest central banks. We hear from BNP Paribas chairman Jean Lemierre who says that rate hikes are the price to pay need to rein in inflation. New Twitter owner Elon Musk surveys users whether he should step down as CEO of the social media platform. Former FTX CEO Sam Bankman-Fried reverses his decision to fight U.S. extradition efforts where he faces allegations of wire fraud and money laundering.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Global equities see sharp sell-offs following this week’s rate hikes in the U.S. and Europe with warnings of more to come. All three major U.S. indices as well as the STOXX600 slump to their lowest level since November. Both the ECB and BoE push rates up by a further 50bps but say that rate increases will continue into 2023. In Brussels, EU leaders agree on more aid to Ukraine and how to respond to President Biden’s Inflation Reduction Act. However, a corruption scandal engulfing the European Parliament continues to deepen. We hear exclusively from the CEO of shipping titan MSC, Soren Toft, who says his firm is ready to capitalise on a predicted import/export recovery from China following Beijing’s relaxation of its zero-Covid policy.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Federal Reserve Chairman Jerome Powell lifts rates by 50bps and signals that the hiking path will continue into 2023, with its terminal rate up above 5 per cent. Investors now await the ECB and BoE to follow the Fed’s moves amid faint hopes that inflation may have peaked. In China, industrial production growth slumps in November while retail is down by almost 6 per cent as the countries zero-Covid restrictions continue to hamstring the economy. As EU leaders meet in Brussels to respond to the U.S. Inflation Reduction Act, we hear from Estonian PM Kaja Kallas who says competition rules cannot simply be ‘thrown out of the window’.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Founder and former FTX CEO Sam Bankman-Fried is denied bail in the Bahamas as he faces criminal charges over the collapse of the crypto exchange. Prosecutors have called it called it the largest embezzlement in U.S. history. Meanwhile rival exchange Binance have denied fears of contagion in the sector despite, according to crypto analytics firm Nansen, seeing $3bn of withdrawals within 24 hours. U.S. inflation data for November comes in lower than expected pushing Wall Street marginally higher. Investors now expect a 50bps rate hike from the Federal Reserve later today. And in Brussels, EU energy ministers fail yet again to compromise on a cap on gas prices with another meeting scheduled for next week.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Sam Bankman-Fried is arrested in the Bahamas and faces extradition to the United States, with prosecutors expected to charge the former poster boy of the Crypto industry with wire and securities fraud. U.S. equities kick off a crucial week of central bank decisions and economic data on a high, with investors hoping for a softer inflation print stateside today that could set the tone going into 2023. China and Hong Kong continue to ease Covid restrictions, dropping their state-mandated mobile tracking apps as the region continues to unwind some of the world's strictest curbs. EU Energy Ministers prepare to meet in Brussels for crunch talks on a gas price cap as the bloc is warned about potential shortages next winter.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 post their worst weekly performance since September, ahead of a busy week - with U.S. CPI data and a slew of central bank rate decisions in focus. Hong Kong's Hang Seng leads losses in Asia, with tech and property stocks under pressure. Crude climbs after Russia's Vladimir Putin threatens to turn off the taps to Europe, while a cold snap hits the continent and puts its energy security to the test. European Parliament Vice President Eva Kaili is suspended from her party, after Belgian police detain 2 MEPs and seize €600,000 in cash in a series of weekend raids.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Prices at China's factory gates fall for the second straight month, and consumer inflation slows on weak demand, while Asian stocks take heart from Beijing's easing of Covid curbs. The S&P snaps a five-day losing streak and part of the yield curve sees its deepest inversion since 2001, as investors eye producer price data for clues into the Fed's rate hiking path. U.S. regulators sue to block Microsoft’s $75 billion acquisition of Activision Blizzard over concerns it would harm competition in the gaming space. FTX founder Sam Bankman-Fried is warned he could be subpoenaed to testify on Capitol Hill next week, as the SEC calls on public companies to disclose their crypto exposure amid fears of further contagion.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

ECB staff discuss strike action after rejecting a below-inflation pay offer, as the central bank's own survey shows price pressures are set to rise next year. Hong Kong's Hang Seng jumps on local media reports authorities are considering a further easing of Covid measures, with tech stocks leading the charge. China's president Xi Jinping starts his three-day visit to Saudi Arabia in a bid to boost ties with the region. The S&P 500 posts its fifth straight negative session as rate concerns cloud the outlook, while consumer borrowing climbs.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

China relaxes Covid measures, removing the need for negative test results before travel and allowing home quarantine. U.S. equities slide, with the S&P 500 posting its fourth straight day of losses while JP Morgan CEO Jamie Dimon tells CNBC falling consumer wealth could spark a downturn. NBC News projects Raphael Warnock will win a crucial run-off race in Georgia, giving the Democrats an ouright majority in the Senate and delivering a blow to former President Donald Trump. And, Meta slides as the company threatens to pull news from Facebook, as its ad model reportedly comes under pressure in Europe.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Dow slumps nearly 500 points, after stronger than expected services data stokes fears the Federal Reserve may continue hiking rates until it triggers a recession. Tesla shares reverse even as the carmaker denies reports its planning to slash its Model-Y production at its Shanghai factory, after reporting record Chinese sales in November. Beijing officials continue to ease Covid restrictions amid a report China could announce ten new easing measures as soon as tomorrow, after last month's historic demonstrations. And Italy's Finance Minister adds to the chorus of calls for a European response to America's Inflation Reduction Act.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Shares in Greater China jump as cities across the mainland continue to ease Covid restrictions, raising hopes Beijing will soon end its zero-covid policy. Russia pledges to fight a G7-imposed price cap on its oil, set to come into force today, while OPEC and its allies agree to hold output steady amid weakening global demand. Wall Street posts back-to-back weekly gains for the first time since October, while November's non-farm payrolls report blows past expectations despite the Fed's attempts at clamping down inflation. And S&P Global slashes France's outlook to negative, citing rising budgetary risks as the country's debt pile grows amid ongoing support measures against inflation, and spiking energy costs.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Asian markets retreat and U.S. equities give back some gains, with investors eyeing today's Non-Farm Payrolls report - while Fed Governor Michelle Bowman echoes Jerome Powell's message that tightening may slow but last longer. EU ministers edge closer to a deal to cap Russian crude oil prices, tentatively agreeing on a 60 dollar per barrel ceiling just days ahead of a de facto deadline. President Biden rolls out the red carpet for his French counterpart Emmanuel Macron, hosting his first state dinner as the pair pledge to hold Russia accountable for its actions in Ukraine. Twitter reportedly offers incentives to advertisers in a bid to win them back - while Elon Musk suspends Kanye West's account after the rapper violates the platform's rules once again.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 hints at a slowdown in interest rate rises. A 50bps move is expected in December, sending U.S. equities into the green. The tech sector leads gains in Hong Kong as Asian markets track Wall Street. A private sector survey in China shows manufacturing activity shrinking for a fourth consecutive month. Sam Bankman-Fried has denied he committed fraud at his now-bankrupt FTX exchange. We hear exclusively from Dutch minister for Climate and Energy Policy, Rob Jetten, who says that the failure of EU nations to agree on a gas price cap is jeopardising the bloc’s energy crisis plan.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Chinese manufacturing activity shrinks for a second consecutive month as strict zero-Covid restrictions and dropping global demand weigh. Opec+ nations reportedly prepare to make deeper supply cuts, pushing prices higher as the EU’s ban on the majority of Russian crude imports is due to be enforced. U.S. equities dip for the third straight day ahead of a key speech from Federal Reserve Chairman Jerome Powell. And in banking news, HSBC is to sell off its Canadian unit to the Royal Bank of Canada for $10bn as it pivots towards the Chinese market.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Chinese equities rebound after Wall Street slides, with the Hang Seng leading the charge, as new Covid cases decline in the country for the first time in over a week. Crude prices rebound, in spite of more hawkishness from the Fed's James Bullard, ahead of a key meeting of oil producers later this week with a major policy adjustment reportedly on the table. Blockfi files for bankruptcy, leaving at least 100,000 creditors on the hook, as the crypto lender becomes the latest company to fold in the wake of FTX's dramatic collapse. And, Elon Musk accuses Apple of halting its advertising on Twitter and threatening to remove the platform from its app store.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Protests erupt across China, some even calling openly for Xi Jinping to go – as frustration mounts over strict Covid controls. Profits at China's industrial firms slide, weighed down by Covid restrictions and falling factory-gate prices, as authorities unleash waves of new stimulus to spur demand. Oil prices plunge - hitting their lowest level since 2021, and Asian equities also slide, as uncertainty over China rattles markets. And, Black Friday online sales top 9 billion dollars, hitting a new record as consumers flock to 'Buy Now Pay Later' platforms to offset soaring prices.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Covid cases in China hit fresh record highs as new local infections top 30,000, weighing on investor sentiment in the region. The ECB stresses further rate rises are needed to prevent inflation from becoming entrenched, with Board Member Isabel Schnabel signaling the central bank is not yet planning to slow the pace of hikes. EU states remain deadlocked over a price cap on Russian oil, while energy ministers in Brussels agree to revisit a price cap on gas next month. Retailers brace for one of the busiest shopping days of the year. U.S. consumers are expected to increase their Black Friday spending, while European shoppers face a downturn.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Wall Street is in the green ahead of the Thanksgiving holiday period as the Federal Reserve hints that it may soon wind down the pace of rate hikes. In China, authorities tighten Covid restrictions again as cases reach a new record high. The PBOC has suggested a potential RRR cut in a bid to support the economy. EU nations are at loggerheads over both the proposed G7 Russian oil exports price cap as well as a ceiling on gas as the bloc meets today for an extraordinary energy summit. Russian missiles pound Ukrainian energy infrastructure installations causing nationwide blackouts. President Volodomyr Zelenskyy tells the UN Security Council that Moscow is guilty of energy terrorism.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Credit Suisse warns of a CHF1.5bn loss in the fourth quarter. The lender will be asking shareholders to vote on its restructuring and capital-raising plans. U.S. markets are up ahead of the Thanksgiving holiday with investors eyeing Fed minutes later today. The EU proposes a €275/MWh gas price cap in a bid to stem soaring costs across the bloc this winter. However, Greek energy minister Kostas Skrelas tells CNBC the level is too high. The FTX bankruptcy proceeding is under way in Delaware amid allegations of lost assets and fatal mismanagement by founder and CEO Sam Bankman-Fried.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Beijing orders closures of numerous public facilities as Covid infections in the capital hit a record high. Cases also continue to surge in Guangzhou and Chongqing. The dollar and Treasury yield dip as Cleveland Federal Reserve President Loretta Mester tells this channel that inflation needs to slow further before she is ready to stop raising rates. Crude rallies after hitting a ten-month low as Saudi Arabia denies reports that Opec+ is set to hike output next month. The fallout from the collapse of FTX continues to be felt in the sector with Bitcoin falling to below $16,000 for the first time in 2 years while lender Genesis is now reportedly set to file for bankruptcy.   See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Chinese authorities locks down the largest districts in Beijing and Guangzhou following the country’s first Covid deaths in six months. Former Disney CEO Bob Iger returns to the role to replace Bob Chapek as the entertainment giant attempts to regain momentum following a torrid quarter. Investors turn their focus on retail earnings and upcoming Black Friday sales for signs of resilience from the U.S. consumer. Atlanta Federal Reserve President Raphael Bostic suggests that one more rate rise of up to 100bps could prove to be enough to bring down inflation. In crypto new, FTX admits it owes its top 50 creditors more than $3bn as the new CEO scrambles to sell off or restructure the business. And in Egypt, Cop27 wraps up with negotiators hailing an agreement on ‘loss and damage’ funds. However, no deal has been reached to further curb greenhouse gases.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. equities dip slightly for a second day while bond yields rise after St Louis Federal Reserve President James Bullard argues that rate rises have had a minimal effect at curbing inflation. However, Bullard believes that 2023 will finally see disinflation. There are hopes of reopening in China with Alibaba shares up to a six-week high in Hong Kong. This, despite the company missing sales forecasts due to zero-Covid restrictions. In the Bahamas, the government seizes collapsed crypto exchange FTX’s assets following its bankruptcy filing. And there is turmoil at Twitter as mass resignations follow CEO Elon Musk’s call for a new ‘hardcore’ work culture at the social media giant.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

UK Chancellor Jeremy Hunt is set to present his autumn budget in the House of Commons later today. Bank of England governor Andrew Bailey says that recent political and financial turmoil has battered the country’s reputation. U.S. markets are in the red following a Christmas warning note from retail giant Target. Federal Reserve governor Christopher Waller indicates that pace of rate hikes may be close to slowing. Tuesday’s fatal explosion in eastern Poland has been judged not to have been part of a deliberate attack by Russia. However, European Parliament President Roberta Metsola tells CNBC that pressure on Moscow must be maintained. Singaporean investment titan Temasek writes down its $300m stake in FTX. It says it misplaced trust in CEO Sam Bankman-Fried. Short-seller Carson Block tells this channel that the crypto sector has lost its way.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

World leaders hold an emergency meeting at the G20 in Bali after an alleged missile kills two people in a Polish village near the Ukrainian border. President Biden is cautious on speculation the missile may have been launched by Russian forces. U.S. equities rally once more after factory inflation data comes in weaker than expected. October producer prices rose 0.2 per cent. Former U.S. President Donald Trump has officially announced he will run in 2024 despite intense criticism within the GOP. In crypto news, BlockFi could be next in line to file for bankruptcy. Crypto.com CEO Kris Marszalek tells CNBC the sector is feeling the impact of FTX’s collapse.  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 continues to stutter as October data comes in short with Covid restrictions and a property slump weighing heavily on activity. U.S. equities are in the red for the first time in three sessions after Federal Reserve Vice Chairman Lael Brainard backs slower tightening but says that further work lies ahead. Berkshire Hathaway makes a $4bn swoop for a holding in Taiwanese chip maker TSMC – the third tech company in its portfolio. German semi-conductor firm Infineon hikes its long-term guidance following a 30 per cent rise in FY revenue as well as unveiling plans for a new €5bn facility in Dresden. And in Bali, Indonesia, President Biden and President Xi strike a warmer tone despite recently soured relations between Washington and Beijing. The U.S. has voiced concerns over rhetoric regarding Taiwan but President Biden has downplayed talk of a new Cold War.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

President Biden and President Xi prepare to meet for head-to-head talks at the G20 in Bali as relations between the world’s biggest economies sour further. We hear from German economy minister Robert Habeck who says Berlin must diversify its economic partners after cancelling several high-profile Chinese investments. In the U.S., Democrats retain the Senate with wins in Arizona and Nevada. The GOP are set to win the House of Representatives. Tech stocks lift the S&P 500 while global sentiment shifts helps European equities to their best weeks since March. And in crypto news, the collapse of the FTX exchange shocks the sector. Rival Binance withdraws FTX tokens from its platform.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Wall Street posts its best day since 2020 with the Dow surging over a thousand points on signs inflation may have peaked. Goldman Sachs’ tells CNBC the data vindicates the Fed's approach. The jump in U.S. equities sends yields sharply lower while the dollar sinks in its worst day since 2009. China adjusts its Covid controls, cutting the quarantine period for close contacts and easing restrictions for inbound travelers as Beijing looks to minimise the number of people affected by the measures. The White House announces President Biden will hold his first face-to-face meeting with Chinese leader Xi Jinping next week, with the aim of improving relations between the two global superpowers. In the world of crypto, FTX's Sam Bankman-Fried courts investors, reportedly seeking more than 9 billion dollars to rescue the crypto exchange. SEC Chairman Gary Gensler tells CNBC the sector is failing to comply with clear rules.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Wall Street is in the red as control of the U.S. Congress remains undecided and the crypto sell-off sinks market sentiment. Crypto exchange Binance pulls out of a deal to buy up troubled rival FTX’s U.S. business, citing “issues beyond our control and our ability to help”. There are three U.S. states whose Senate midterm election results hang in the balance. Georgia is set for a December run-off with Nevada and Arizona still too close to call. Meanwhile, President Biden says he prepared to form bipartisan ties with Republican lawmakers. Social media giant Meta are set to slash 11,000 jobs. CEO Mark Zuckerberg has said he takes full responsibility for the redundancies.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Control of the U.S. Senate is too close to call as Pennsylvania lieutenant-governor John Fetterman flips the seat from Republican to Democrat. Meanwhile GOP Senate candidate for Georgia Herschel Walker urges voters to remain patient. NBC News estimates that Republicans will take control of the House of Representatives with a projected win of 219 seats. An NBC poll finds that the cost of living and abortion rights topped voter concerns. Meanwhile two-thirds do not want President Biden to run for a second term. In crypto news, FTX’s coin crashes with more than $2bn wiped out. Rival Binance has swooped in for FTX’s non-U.S. business.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

New Twitter CEO Elon Musk has urged independent voters to back GOP candidates in the mid-term elections while Donald Trump has hinted he will put his name forward for the presidential race in 2024. Wall Street has reacted ahead of the elections closing in the green for the second straight session. The Dow is up by more than 400 points. The EU has accused the U.S. Inflation Reduction Act of breaching international trade rules. German Finance Minister Christian Lindner tells CNBC that he is concerned about the Act’s consequences on European business. We are also live at COP27 in Sharm El-Sheikh where despite billions being pledged by world leaders, the impasse between ambition and execution on climate change remains vast. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Apple says that Beijing’s zero-Covid policy is damaging production of its most popular mobile phones. Chinese exports and imports contract for October, simultaneously shrinking for the first time since May 2020. Octobers non-farm payroll data beats expectations. However, the Dow breaks a four-week winning streak on rising rate concerns. Richmond Federal Reserve President Thomas Barkin tells CNBC prices still have some way to go. In tech news, thousands of Twitter employees are fired as part of Elon Musk’s overhaul of the social media giant. The company will launch its blue tick subscription service reportedly after the U.S. mid-term elections. We are also live at COP27 in Sharm El-Sheikh, Egypt where IMF managing director Kristalina Georgieva tells CNBC that higher fuel prices are accelerating adoption of greener energies.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Bank of England hikes interest rates to a historic 3 per cent – the largest jump in 30 years. Governor Andrew Bailey has told CNBC the MPC’s move was needed despite the threat of recession. U.S. equities are in the red as investors brace for October non-farm payroll numbers. They are expected to show employment activity decelerating to its slowest rate in two years. Chinese tech stocks rally on the Hang Seng amid reports of positive U.S. audits of Chinese companies and a potential relaxation of the country’s zero-Covid restrictions. Stateside, Twitter lay-offs are reportedly set to begin today following Elon Musk’s takeover of the social media giants. There are also job cuts expected at Lyft and Strip while Amazon freezes further hiring.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Federal Reserve Chairman Jerome Powell seeks to terminate market speculation of a pivot away from raising rate hikes. Powell said it was ‘premature’ to end the hiking cycle. Wall Street reacts by dipping into the red following earlier gains while Treasury yields edge higher. Service activity in China falls to its lowest level since May as Beijing’s strict zero-Covid policies continue to strangle the economy. We are live at Web Summit in Lisbon where Ukrainian First Lady Olena Zelenska tells CNBC countries must put aside national self-interest and continue assisting her country in its war against Russia.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. equities dip as investors brace for a fourth consecutive 75bps rate hike from the Federal Reserve. HSBC CEO Noel Quinn tells CNBC he believes the U.S. central bank is close to it. Mainland Chinese markets add to yesterday’s big gains despite Beijing denying rumours it will soften its zero-Covid policy. Standard Chartered CEO Bill Winters says he is bullish that Chinese growth will return. The BoE sells up to £750m of UK government debt, becoming the first central bank to sell sovereign bonds back to the markets. And we are live at Web Summit in Lisbon where hot topics will include Elon Musk’s takeover of Twitter and U.S. regulators’ potential crackdown on TikTok.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Saudi Aramco posts a near-40 per cent surge in Q3 net income on the back of rising global prices. President Biden urges IOCs to use their record profits to help reduce prices for consumers. BP CEO Bernard Looney tells CNBC his company is already putting its windfall gains to good use. The Dow is slightly down but has posted its best month since 1976. Asian equities start the new month in the green. In China factory activity stalls as authorities increase Covid restrictions. The yuan is down to its lowest level since the GFC due to a weak midpoint setting. New Twitter CEO Elon Musk dissolves the board and sets aggressive targets amid upcoming job cuts at the social media giant.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Credit Suisse issues further details about its CHF4bn capital increase as part of its overhaul. Chairman of the Saudi National Bank, Ammar Al Khudairy, tells CNBC the Swiss lender must not hesitate in restructuring the bank. The Dow is on course to post its best month since January 1976 despite recent weakness in tech stocks. Chinese economic activity contracts for October as authorities ramp up Covid restrictions in key manufacturing and financial cities. And in Brazil, Lula da Silva narrowly wins the presidential election to edge out incumbent Jair Bolsonaro.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Elon Musk completes his $44bn takeover of Twitter and immediately fires CEO Parag Agrawal and CFO Ned Segal and confirms the acquisition by tweeting ‘the bird is freed’. Big Tech suffers an almost $800bn loss to its market cap as investors flee the sector on the back of underwhelming earnings, weak forecasts and spiralling costs. Amazon and Apple earnings are also due to today. The e-commerce giant offers a weak outlook ahead of the Christmas season while Apple misses on iPhone sales. In forex news, the euro nears parity against the dollar as the ECB raises rates by a further 75bps. President Christine Lagarde says the central bank’s job to calm inflation is still incomplete.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Credit Suisse posts a larger-than-expected Q3 loss. The lender unveils a turnaround plan which includes restructuring its IB unit and cutting costs by 15 per cent. Chairman Axel Lehmann has admitted the bank has been ‘unfocused’. The ECB is expected to raise rates by a further 75bps which would place them at their highest level since 2009. Facebook parent company Meta sees shares freefall by almost 20 per cent in extended trade. CEO Mark Zuckerberg’s move to build the ‘metaverse’ platform has so far failed to attract investors. And staying in Silicon Valley, Elon Musk is on the verge of purchasing Twitter with the finishing touches being applied by banks to financing deals.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Asia-focused bank Standard Chartered beats expectations, posting a 40 per cent jump in Q3 profit on the back if rising rates. Spanish lender Santander see net quarterly profit of €2.4bn. It says it is confident it will hit its full-year targets. Declining ad revenue causes Google parent company Alphabet to miss on its top and bottom lines for the third straight quarter. Microsoft shares are down despite beating estimates. It warns that its cloud business is experiencing a marked slowdown, posting its smallest revenue growth in 5 years.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

UBS suffers a 24 per cent drop in net profit but an improvement in net interest income as the bank navigates macro-economic headwinds going into the fourth quarter. HSBC posts a better-than-expected Q3 earnings despite rising impairments. Rishi Sunak becomes UK prime minister urging the Conservative party to ‘unite or die’. In tech news, Chinese tech loses $55bn on a single day on Wall Street as investors signal concerns about President Xi Jinping’s unprecedented third term.   See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

China GDP comes in short of Beijing’s official GDP data with Covid lockdowns affecting growth. President Xi Jinping consolidates his grip on power ahead of a third term in office. In the UK, former chancellor Rishi Sunak is set to become prime minister as soon as today after Boris Johnson withdraws his candidacy. In Italy, Giorgia Meloni is sworn in as prime minister to create the most right-wing cabinet wince WW2. Wall Street posted its best trading week since June amid reports that some Fed officials plan smaller interest rate hikes in the coming months.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

UK Prime Minister Liz Truss quits after just six chaotic weeks in the job. Sterling dips on the news ahead of an accelerated Tory leadership contest. A new Prime Minister is expected to be announced by next Friday. In Brussels, EU leaders meet late into the night with Germany’s Olaf Scholz dropping his country’s opposition to a gas price cap, provided sufficient supplies are secured. U.S. indices are in the red and both the 2- and 10-year yields hit levels not seen since 2008. In corporate news, sportswear giant Adidas cuts its full-year guidance blaming weaker demand in China and in the West and its departure from the Russian market. However, luxury firm Kering shrugs off any recession concerns to post a 14 per cent surge in Q3 sales despite Gucci lagging in China.   See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Tesla beats on the topline but misses revenue estimates which drives the share price down in extended trade. CEO Elon Musk is bullish, saying that the company’s market cap could eventually exceed that of Apple and Saudi Aramco combined. Beleaguered UK Prime Minister Liz Truss is rocked by the departure of Home Secretary Suella Braverman over immigration targets. Wall Street sees the 10-year yield rising to its highest level since 2008. Asian markets follow suit prompting the BoJ to put a floor under bond prices. And in earnings news, Swiss-Swedish industrial titan ABB posts a Q3 beat in orders and revenue and signals it will hit its 2023 margin targets a year early.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Netflix shares soar in extended shares on the news that the streaming giant has increased subscriber numbers by 2.4m in the third quarter to double expectations. Goldman Sachs tops quarterly earnings forecasts despite revenue and profit falling off. CEO David Solomon tells CNBC the lender is bracing for a downturn in the U.S. Wall Street enjoys a second straight day of gains on strong earnings despite a volatile session. U.S. futures are also set to move higher. New Hong CEO John Lee urges the territory to attract more global talent during his maiden address after Covid restrictions were eased. The EU moves to tackle high gas prices and to avoid an energy bidding war between member states. However it falls short of imposing an energy price cap. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

UK Prime Minister Liz Truss says she recognises her mistakes and apologises for the way the mini-budget was launched and handled. Her new Chancellor Jeremy Hunt rips up the bulk of her economic programme in a bid to calm jittery markets. On Wall Street, tech stocks fight back, helping the Nasdaq to its best day since July. Bank of America shares surge following better-than-expected Q3 profits on the back of an increase in interest income. CEO Brian Moynihan tells our colleagues Stateside that U.S. consumer remains ‘very solid’. Credit Suisse is reportedly wooing the Abu Dhabi and the Saudi sovereign wealth funds for capital injections into its investment banking arm.   See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Chinese President Xi Jinping opens the Communist Party National Congress, hailing the nation’s battle against Covid while looking to secure a historic third term. Asian markets start in the red following a volatile week which saw the Dow drop 400 points. In the UK, new Chancellor Jeremy Hunt distances himself from his predecessor’s policies, causing the pound to surge. Meanwhile calls for Prime Minister Liz Truss to resign grow. IIF chair Axel Weber warns of a growing gap between monetary tightening and looser fiscal policy. We hear from Mercedes CEO Ola Källenius who says China will remain the car maker’s biggest market but voices concerns that future growth will be vulnerable to geo-politics and supply chain constraints.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

US stocks stage a massive comeback, with the Dow swinging 1,500 points, despite US CPI coming in hotter than expected. Chinese consumer prices rise by the most in more than two years, as the country's ruling party prepares to usher in a historic third term for President Xi Jinping. Kwasi Kwarteng heads home early from IMF meetings, amid speculation the government is considering yet another U-turn over its controversial ‘mini-budget’. However, the U.K. Chancellor says he is committed to the plan. LVMH's Antoine Arnault hails the resilience of the luxury sector throughout the pandemic, telling CNBC the stronger dollar is now boosting sales.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Bank of England snaps up £4.4 billion in Gilts in its biggest daily move so far, as the emergency programme enters its final 48 hours. U.K. Prime Minister Liz Truss says she will stick to her plans to not cut public spending. ECB hawks Robert Holzmann and Pierre Wunsch tell CNBC they expect rates to keep rising despite fears of a looming recession, with the benchmark rate possibly topping 3%. The Fed comes under further pressure in its inflation fight, with food and energy costs causing wholesale prices to rise more than forecast last month. EU energy ministers agree on plans for a joint gas buying scheme, but fail to strike a deal on a price cap.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Sterling see-saws after a report the Bank of England is preparing to extend its emergency bond-buying programme, despite Governor Andrew Bailey's message to markets that funds have just three more days to rebalance their positions. The International Monetary Fund slashes its global outlook and warns the world is on the brink of a 'painful' recession. Chinese authorities ramp up covid testing across some of the country, days ahead of the Communist Party Congress. In corporate news, LVMH toasts a third quarter sales beat, as the luxury giant sees a boost from the stronger dollar, with American tourists splashing out in European stores.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

JPMorgan CEO Jamie Dimon speaks exclusively to CNBC, saying U.S. stocks could double their losses on the year and defending the U.S. Government’s new restrictions on tech exports to China. A slump in semiconductor stocks sends the Nasdaq to a two-year low while selling continues in Asia, as chip giants in Taiwan, Japan and South Korea react to new US action against China. President Biden vows to deliver more air defense systems to Kyiv after Russian missiles strike cities across Ukraine, killing 14 and damaging key civilian infrastructure. Gilts come under renewed pressure after separate moves by the Bank of England and the U.K. Chancellor fail to quell concerns over Prime Minister Liz Truss’ economic strategy.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Global markets under pressure, as the Dow slumps after U.S. jobs data points to tightness in the labour market, while investors look ahead to a crucial week for data and earnings. Fresh data flashes warning signs for the Chinese economy, as the services sector contracts for the first time in four months, while the chip sector drags stocks lower after the US announces fresh restrictions. Russian President Vladimir Putin accuses Ukraine of a "terrorist act" after a bridge linking Crimea to Russia is hit by an explosion, disrupting a key military supply line. Nissan reportedly pushes Renault to sell down its stake in the Japanese carmaker, as part of talks that would see the auto giants create a joint venture to accelerate the development of electric cars.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Credit Suisse sets aside CHF3bn to launch a public tender off with the aim of buying back its debt securities. The IMF warns of an upcoming global growth downgrade. Managing Director Kristalina Georgieva tells CNBC that “multiple shocks” are to blame and that drastic central bank moves are required to rein in inflation. The Dow is down but Wall Street is still set for a large weekly gain ahead of the non-farm payrolls. We are live in Prague at the inaugural summit of the European Political Community where Polish PM Mateusz Morawiecki tells us Germany’s addiction to cheap Russian gas and its “disastrous” energy policy have left the rest of Europe in a vulnerable position. And in tech news, Samsung posts its first quarterly decline for 3 years as it wrestles with a global slowdown and reduced memory chip demand.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Opec + members slash output by 2m bpd, pushing up oil prices to a three-week high. The cartel’s secretary-general, Haitham Al-Ghais, tells CNBC the cut was not a political decision. The U.S., however, accuses Opec of siding with Russia and ‘shortsightedness’ for the reduction in production. The Biden administration immediately orders more oil to be released from its SPR. Ratings agency Fitch is the latest to issue a negative outlook warning for the UK. Elon Musk and Twitter could reportedly resolve their litigation wrangles later this week. The Tesla boss has launched plans to transform the social media platform into a ‘super-app’.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Opec+ members are reportedly considering a 2m bpd output cut ahead of its first in-person meeting in more than 2 years. Softer economic data inspires hopes of less drastic Fed tightening moves, which helps the S&P 500 log its best two-day gain in more than two years. Elon Musk agrees to purchase Twitter for the original $44bn sale price and will likely avoid the deal being dragged through the courts. And in corporate news, HSBC shares hit a 20-month high after reports the bank is set to offload its Canadian unit. And UK PM faces a further division from within her cabinet and party after refusing benefits increases in line with inflation.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

UK Chancellor Kwasi Kwarteng is reportedly set to bring his medium-term fiscal plan forward following yesterday’s U-turn on cutting the top rate of tax. Asian markets are in the green, extending the global rally. The Dow will look to build on its 760-point rally. Ukrainian forces continue to claw back more territory in the south and east of the country following Moscow’s annexation of four regions. In banking news, Credit Suisse’s credit default swaps reach new highs after the Swiss lender failed to calm market fears about its financial health.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The pound slides as the S&P puts the UK on notice for a downgrade as the Conservative Party conference begins in Birmingham. Prime Minister Liz Truss admits her tax cut plans could have benefited from better communication. The Dow falls by 500 points to close below the 29,000 mark in what was the worst September for the index for 20 years. Ukrainian forces recapture the eastern city of Lyman as Russian President Vladimir Putin signs accession treaties for 4 illegally occupied regions. Oil prices surge on news that Opec+ producers are reportedly mulling a 1m bpd output cut. And in corporate news, Credit Suisse moves to reassure investors about its financial health, causing credit default swaps spreads to move sharply higher.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 slumps to a new low for this year, weighed down by Apple’s broad declines. U.S. markets are set for the third consecutive negative quarter. However, Morgan Stanley CEO James Gorman tells our U.S. colleagues that he sees no signs of panic from investors. UK PM Liz Truss and Chancellor Kwasi Kwarteng are to have and emergency meeting with the OBR but Downing Street insists its mini-budget tax cuts are essential. Chinese manufacturing shows signs of recovery but the Caixin survey shows that services are struggling from a sharp slowdown. And in energy news, Germany outlines a €200bn package to shield consumers from soaring gas prices.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Bank of England scrambles to restore market calm with a £65bn bond-buying programme. We are live for the latest from Threadneedle Street. Last Friday’s controversial UK ‘mini-budget’ also makes waves at CNBC’s Delivering Alpha conference with founder and CEO of Citadel, Ken Griffin, voicing his concern about the potential fallout for investor confidence. The 10-year Treasury yield falls by its largest amount since 2020 while the S&P 500 breaks its six-day losing streak but billionaire investor Stanley Druckenmiller tells this channel a downturn is still imminent. Porsche is set to list in Frankfurt later today in what is likely to be Europe’s largest IPO ever. And European leaders vow to investigate the recent Nord Stream pipeline leaks in the Baltic while European Commission President Ursula Von Der Leyen says the bloc will refuse to recognise referenda held in four occupied Ukrainian regions.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The IMF slams the UK’s government’s budget plans cuts and say they will serve to impact the BoE’s rate hikes. The central bank’s Huw Pill says a strong monetary response will be needed to tackle soaring inflation. The S&P 500 sinks further into bear market territory. Asia equities fall to their lowest ever level in two and a half years. Stateside, Minneapolis Fed Chair Neel Kashkari says the central bank will continue to hike rates appropriately. St Louis Fed Chairman James Bullard is adamant that recession remains a risk but Ark Invest’s Cathie Wood believes deflation is around the corner in the next six months. European authorities launch probes into 3 gas leaks coming from the Nord Stream 1 and 2 pipelines in the Baltic Sea. Poland’s Prime Minister Mateusz Morawiecki and Denmark’s Mette Frederiksen believe sabotage cannot be ruled out.   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 at Threadneedle Street as sterling claws back some of yesterday’s record losses versus the dollar. The BoE and the Treasury have moved to calm jittery investors amid a brutal gilt sell-off. In the U.S., the Dow enters bear market territory while the S&P 500 posts its lowest close this year. Chatham House senior advisor Jim O’Neill says that assets are following messaging from the Fed. The World Bank slashes its China growth forecast, saying that it will lag behind regional peers for the first time in more than 30 years. Industrial profits continue to be impacted by Covid restrictions.  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 Rome where the centre-right coalition have won a clear majority with 43 per cent of the vote. Fratelli d’Italia leader Giorgia Meloni is now set to be Italy’s next prime minister. The opposition Democratic Party has conceded defeat with the fractured centre-left bloc struggling in the polls. In forex news, sterling falls to its lowest level against the dollar since 1971 as investors fear Chancellor Kwasi Kwarteng’s tax cuts cluster will increase the UK’s debt burden. The Dow has hit its lowest point this year as the global sell-off continues.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Wall Street is in the red for a third consecutive day while European equities hit an 18-month low amid a slew of central bank tightening measures. Italy’s political parties hold their last rallies ahead of Sunday’s snap election. Brothers of Italy leader Giorgia Meloni says her party is ready to govern. The BoE is split with the UK government with one voting member questioning policy in tackling inflation. Chancellor Kwasi Kwarteng is set to slash taxes in his mini-budget. And at the UN, Russian foreign minister Sergei Lavrov walks out of the Security Council over alleged war crimes committed in Ukraine by Russia forces.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The U.S. Federal Reserve increases interest rates by 75bps for the third consecutive month. The rate is now at its highest level since early 2008. Chairman Jerome Powell warns that the there will be more rate moves to come to tackle inflation. U.S. equities are down and the 2-year Treasury yield has hit 4 per cent for the first time in 15 years. The BoJ, however, holds rates at record low levels. At the UN, U.S. President Joe Biden leads global condemnation of Russia’s partial military mobilisation and threats of nuclear strikes.  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 continue their sell-off with 2- and 10-year Treasury yields reaching new highs ahead of another large Fed rate hike. Hedge fund manager Leon Cooperman slams U.S. Fed chair Jerome Powell for “irresponsible fiscal monetary policy”. JP Morgan CEO Jamie Dimon gives a stormy economic forecast ahead of Congress appearances by bosses of the seven largest U.S. banks. Russian President Vladimir Putin is expected to give his first national address since the beginning of the Ukraine invasion. The Kremlin is likely to ramp up military operations in the country and to fast-track annexation referenda in four occupied territories. And in energy news, Berlin is set to complete the final stage of its takeover of troubled utility Uniper, also providing a further €8bn in support measures.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 are braced for the Fed’s policy meeting starting today, breaking a two-day losing streak and pushing the 10-year Treasury yield to an 11-year high. The PBC keeps rates steady with the BoJ expected to do the same despite inflation reaching an 8-year high. Germany is expected to ink a gas deal with Qatar as it pivots away from Russian energy. However Bilfinger CEO Thomas Schulz tells this channel that Europe has the requisite energy infrastructure to weather the current power crisis. In autos news, Ford shares reverse in extended trade after supply chain issues weigh on costs.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 at Windsor Castle and in London where world leaders have arrived for the funeral of Queen Elizabeth II. The S&P 500 and the Nasdaq suffer their worst week since June ahead of the Fed’s next meeting. In Europe, ECB officials warn of further rate hikes. In IPO news, Volkswagen aims for a partial valuation of Porsche of up to €75bn. And the EU could withhold €7.5bn of funding from Hungary over a rule-of-law dispute with Budapest.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. retail sales climb, and jobless claims fall ahead of next week's Fed meeting. This, as the market rally falters, with major U.S. indices on track for their fourth negative week in five, while Man Group CEO Luke Ellis tells CNBC he expects further pain to come as the Fed tightens policy and Fedex CEO Raj Subramaniam warns of a global recession. Chinese consumer confidence shows signs of resilience with retail sales rising at their fastest pace in six months, while factory output and investment data also top expectations. Russia acknowledges Chinese "questions and concerns" over the Ukraine war, after Presidents Putin and Xi hold in person talks for the first time since the invasion. In extended U.S. trade, Adobe shares sink after the software company announces a 20 billion dollar deal to buy Figma.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. producer prices fall for a second straight month as easing energy costs offer some respite, while the IMF's Kristalina Georgieva calls on central bankers to be stubborn in their fight against inflation. A shutdown deadline looms large, as President Biden mediates crunch talks to avoid a national railway strike that could throw U.S. supply chains into deeper disarray, potentially costing the economy $2 billion a day. Chinese President Xi Jinping makes his first overseas trip since the start of the pandemic, with the war in Ukraine on the agenda as he meets Russia's Vladimir Putin. In Europe, the French government announces it will cap energy price rises for households at 15 percent in 2023, at a cost of 16 billion euros and Uniper shares plunge after the gas importer confirms it is in talks with the German government over further support.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Wall Street plunges in its worst sell-off in more than two years, with the Dow diving 1200 points, while the two-year Treasury yield rockets to levels not seen since 2007, all after a hotter-than-expected U.S. CPI print of 8.3%, raising expectations the Fed could look to hike rates by 100 basis points at its next meeting. In other news, Germany's cabinet prepares to approve an expanded state support program for troubled energy providers, and Twitter shareholders approve Elon Musk's $44 billion takeover, while a whistleblower tells US lawmakers of alleged major security flaws at the social media platform and says regulators are ill-equipped for their role.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

US CPI expectations ease according to a key Fed survey ahead of today's August print, with inflation expected to slow to eight percent. Swiss lender UBS hikes its annual dividend by ten percent and announces share buybacks will top five billion dollars this year, as fellow bank Goldman Sachs plans to cut hundreds of jobs this month according to a CNBC source, looking to rein in expenses amid a collapse in deals volume. Twitter shareholders reportedly vote in favour of Elon Musk's 44 billion dollar takeover, as the billionaire tries to force his way out of the deal.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Queen Elizabeth's coffin lies in rest in Edinburgh, after a six-hour journey from Balmoral Castle, with her funeral set to take place on Monday September 19. King Charles III is formally proclaimed sovereign, with the new monarch set to start a tour of the UK in Scotland, for a service marking the passing of his mother. Ukrainian forces reclaim large stretches of territory in the northeast of the country, as Russia makes a hasty retreat and launches a barrage of missiles into Kharkiv. Crude prices slip amid warnings China's fuel demands could contract for the first time since 2002 as Beijing continues to impose a zero-covid policy approach to covid cases.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The UK begins a period of mourning after Her Majesty Queen Elizabeth the Second dies aged 96, ending the reign of the world's longest serving monarch. His Majesty, King Charles the Third ascends to the throne, and says the loss of his mother will be felt deeply. Condolences pour in from around the globe as world leaders praise her dignity and dedication, calling her passing a great loss to the international community. In other news, the ECB hikes rates by a record 75 basis points, to the highest level since 2011, pushing eurozone yields higher as Christine Lagarde pledges to keep up the inflation fight. US Federal Reserve Chair Jerome Powell echoes Christine Lagarde's comments, vowing to continue his battle with inflation stateside.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

ECB policy makers are expected to hike by a record-breaking 75bps to combat inflation amid sky-rocketing utility prices. U.S. equities are in the green and crude prices bounce back following the Fed’s Lael Brainard insisting the central bank must hold its nerve in containing inflation. The dollar is at a 24-year high against the yen. New UK leader Liz Truss attends her first Prime Minister’s Questions as sterling sinks to its lowest level since 1985. The EU is proposing a price cap on Russian gas in order to mitigate the energy crisis facing the bloc.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Wall Street closes in the red yet again. The Nasdaq posts its longest daily losing streak since 2016. Richmond Federal Reserve President Thomas Barkin says that rates must stay high until inflation is contained. New UK Prime Minister Liz Truss is reportedly planning a £100bn package to help millions of households cut sky-rocketing energy bills this winter. Gazprom has signed a deal to permit Chinese customers pay for its gas in yuan or roubles in a bid to move away from the dollar. Goldman Sachs says that European household energy costs could soar by $2tn by next year. We hear from Uniper CEO Klaus-Dieter Maubach who says “the worst is still to come” for European gas consumers. And in China, August exports numbers slow with Covid restrictions, inflation and energy supply problems all weighing heavily.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Gazprom reportedly claims Siemens Energy must carry out maintenance work on the Nord Stream 1 pipeline before gas supply to Europe can resume. Brussels is suggesting an EU-wide gas price cap. Enagas CEO Arturo Gonzalo tells CNBC that Moscow’s behaviour will only serve to strengthen Europe’s resolve to stop dependence on Russian hydrocarbons. Liz Truss becomes the next UK prime minister and is due to receive the keys to 10 Downing Street later today. In Australia, the RBA raises interest rates by 50bps in a bid to rein in price pressures. And in energy news, Opec+ announces a ‘miniscule’ cut of 100,000bpd from October.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Gazprom indefinitely cuts gas supplies to Europe via the Nord Stream 1 pipeline. We hear from EU Commissioner Paolo Gentiloni at the Ambrosetti Forum who says that the Kremlin is weaponising energy but insists the West will not flinch. Sweden, Finland and Germany have scrambled to announce energy support packages, warning of a Lehman Bros-moment for the sector. In the U.S., equities are in the red for the third straight week despite solid August jobs numbers. Republican senator Lindsey Graham tells CNBC that Donald Trump must focus on policy should he decide to run for President in 2024. In Italy, Giorgia Meloni’s Fratelli d’Italia party leads polls just weeks before the general election. We speak to Democratic Party leader Enrico Letta who believes his party offers a viable alternative vision for the country. We are also live in Downing Street ahead of the Conservative Party leadership contest result.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 on the shores of Lake Como in Italy for the Ambrosetti Forum as Italy announces a multi-billion euro inflation-busting emergency programme. This as the 10-year yield hit 4 per cent for the first time since June. However, Ambrosetti CEO Valerio De Molli tells CNBC that the country is not about to slip into another debt crisis. Investors anticipate the U.S. August jobs report with the Dow breaking a four-day losing streak. Russia vows to stop selling crude to nations supporting an oil price cap. Brent and WTI gain in early trade. And in food and beverage news, Starbucks unveils Laxman Narasimhan as its new CEO in a bid to impose the coffee chain giant’s Reinvention plan.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. equities are set to start the new month in the red following their worst monthly performance in seven years. Treasury yields continue to rise as Cleveland Fed President Loretta Mester pours cold water on hopes inflation has been tamed. In Covid-hit China, factory activity contracts for the first time in August. Growth concerns weigh on crude prices which have suffered their worst losing streak since April 2020. Shares in Nvidia and AMD slump after Washington curbs exports to Beijing. And in the UK, sterling posts its steepest monthly decline since Brexit as Conservative Party leadership hustings draw to a close.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. equities continue their slide in the red with the S&P 500 dipping below its 50-day moving average. Richmond Fed President Thomas Barkin, however, says a recession is not inevitable. We hear from French Finance Minister Bruno Le Maire who says that he backs emergency measures to rein in rampant energy prices throughout Europe. Russia cites maintenance issues as it turns off gas supplies into Europe via the Nord Stream 1 pipeline, which had already been functioning at just 20 per cent capacity. In China, factory activity falls yet again in August, hamstrung by Covid outbreaks and power outages. World leaders pay tribute to the last Soviet leader, Mikhail Gorbachev, who has died aged 91.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Asian markets stage a rebound following more declines from U.S. markets overnight. Treasury yields also climb with the 2-year bill hitting its highest level since 2007 following Federal Reserve Chairman Jerome Powell’s Jackson Hole comments last week. ECB chief economist Philip Lane has said he backs incremental rate hikes, warning that bigger increases could have adverse effects on the bloc. The EU has set out emergency measures to decouple electricity and gas in a bid to rein in ‘skyrocketing’ energy costs. In China, tech firms continue their slump, logging their worst earnings quarter ever. There is one outlier – e-retailer Pinduoduo – which posts better=than-expected Q2 numbers.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Dow drops 1,000 points following Federal Reserve Chairman Jerome Powell’s Jackson Hole speech. Powell sparked a global sell-off after warning of increased pain to come in the struggle against rampant inflation. The ECB follows suit, predicting further sacrifices to curb price pressures on this side of the Atlantic. In China, July’s industrial profits slump on the back of continuing Covid restrictions and power outages hit factory performance. Regulators have called on banks to provide more support. And in crypto news, Bitcoin is on course for its fifth day of declines, dipping below the $20k mark amid concerns about the Fed’s rate hike trajectory.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Dow finishes in the green with U.S. markets eagerly anticipating Federal Reserve Chairman Jerome Powell’s Jackson Hole speech later today. Fed officials speaking to CNBC at the Wyoming symposium have reiterated the need to keep raising interest rates to bring down U.S. inflation. President Biden signs an executive order to boost chip production. At a mid-term elections rally in Maryland he called Trump philosophy ‘semi-fascist’. In Zaporizhzhia, Ukraine, back-up systems have sparked into action following shelling at Europe’s largest nuclear plant, which disconnected it from the country’s grid. British energy regulator Ofgem prepares to lift the price cap, causing bills to soar for millions of households from October.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 are in the green after three negative sessions with investors seeking further Fed clarity ahead of the start of the Jackson Hole Symposium today. President Biden fulfills his 2020 campaign promise of student loan forgiveness one week before a moratorium on payments and interest. The move will affect millions of graduates with $10,000 debts. Tesla undergoes its second stock split in 2 years on a 3-for-1 basis. In Germany, Economy and Climate Protection Minister Robert Habeck announces energy-saving measures designed to save 2 per cent of gas consumption this winter.  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 down for their third straight session following further hawkish comments from the Federal Reserve. Investors’ expectations that Chairman Jerome Powell would move away from the central bank’s tightening progamme have been dampened. In energy news, crude is also down on anticipation that any Opec+ output cuts could coincide with the return of Iranian oil to markets as part of a renewed nuclear deal. Chinese e-commerce giant feels the strain of continuing Covid restrictions in the country, posting a record-breaking slow quarter. And the U.S. is set to unveil a $3bn security package for Ukraine which is today marking six months since Moscow’s invasion of its territory.   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 post their worst session in June with the 10-year Treasury yield hitting 3 per cent. Investors are anticipating Fed rate setters will double-down on their hawkish positions at the Jackson Hole Symposium later this week. In forex news, the dollar is up while the euro plunges to a two-decade low. German Chancellor Olaf Scholz visits Canada to seek alternative energy sources following the Russia’s invasion of Ukraine. In China, the PBOC is set to off $29bn worth of special loans to property developers in order to stabilise a worsening housing crisis. And in retail news, Adidas announces the surprise departure of CEO Kasper Rørsted.    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 breaks a 4-week rally and Treasury yields rise ahead of the Jackson Hole meeting of central bankers this week. Beijing cuts its base lending rate in a bid to revive its faltering economy amid extended Covid restrictions and a property sector crisis. Russia is set to undertake a further 3 days of ‘planned maintenance’, halting natural gas deliveries to Europe. And in entertainment news, Cineworld is reportedly to file for bankruptcy, citing a lack of blockbuster movies.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 look to attempt to revive their recent rally. The S&P 500 is on track to end its fifth straight week in the green. St. Louis Federal Reserve President James Bullard has repeated his call for a further 75bps hike in September. Home goods retailer Bed, Bath & Beyond sees shares nosedive after billionaire investor Ryan Cohen withdraws his entire stake in the company. Also in the U.S., Kohl’s beats expectations but shares fall on the news that the department store chain has cut its guidance as middle income consumers feel the inflation pinch. Greece prepares to formally exit Brussels’ ‘enhanced’ fiscal surveillance programme to mark the end of its debt crisis.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Dow’s five-day winning streak ends and Treasury yields grow as the Federal Reserve admits its aggressive tightening policy has been risky and that inflation still shows no signs of receding. We hear from the new Opec Secretary General Hathaim Al-Ghais who says Chinese consumption fears are exaggerated and that a return to pre-Covid demand depends on jet fuel recovery. In the U.S. Target misses Q2 expectations and sees profits plunge by 90 per cent despite discounts on clothing and electronics.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

It’s a fifth straight day of gains for the Dow since May. Retail stocks have been particularly resilient. Walmart ups its full-year guidance after beating both Q2 revenue and earnings forecasts. Shares are up by 5 per cent for the retail giant. CEO Doug McMillon remains cautious, telling this channel that inflation is hurting U.S. consumers, forcing them to adapt their shopping habits. In China, an extended heatwave has prompted authorities to shut down factories in southern provinces for six days to save electricity. And in energy news, crude prices recover and there are signs the oil market is tightening following a drop in U.S. stockpiles.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The U.S. markets rally continues with the Dow closing above its 200-day moving average for the first time in four months. Disney shares are up on the news that investor Daniel Loeb’s Third Point is to buy a new stake in the entertainment giant. The hedge fund manager has also written to CEO Bob Chapek urging him to spin off sports network ESPN. In mining news, BHP posts its best profit in 11 years and has suggested it may improve a bid for Oz Minerals. And in Germany has introduced a new gas price levy on households and businesses with Energy Minister Robert Habeck blaming Russia for allegedly weaponising resource security in the wake of the Ukraine conflict.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Weaker-than-expected retail and factory data prompts the Chinese central bank to slash the key lending rate as its zero-Covid strategy continues to impact the country’s economy. The S&P 500 posts its fourth consecutive winning week ahead of a slew of U.S. retail earnings. However, Richmond Federal Reserve President Thomas Barkin tells CNBC that demand is softening. In energy news, Saudi Aramco hits a record $48.4bn profit 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.

The recent U.S. equity rally stalls despite July wholesale prices showing a surprise decline. Treasury yields edge higher on anticipation the Federal Reserve can achieve a ‘Goldilocks’ soft landing. In pharma news, GSK, Sanofi and Haleon all see shares slump due to continuing litigation issues relating to a recalled heartburn drug. UK GDP figures are due out with soaring utility prices set to weigh heavily. And U.S. EV maker Rivian posts a Q2 loss of $1.7bn, sending shares tumbling in after-hours trade.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Nasdaq bounces back to bull market territory following yesterday’s better-than-expected inflation report. U.S. President Joe Biden says a lot more needs to be done to bring prices down. Treasury yields also contract on investor anticipation of less aggressive rate hikes but three Fed officials maintain there will further rises this year. Disney shares are in the green in extended trade on strong Disney + subscriber numbers. The entertainment giant has announced a price hike for the streaming service. And in Asia, Soft Bank has cut its Alibaba stake to 14.6 per cent to raise $34bn in a bid to bolster 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.

Expected U.S. inflation data causes both U.S. and Asian equities to fall, with consumer prices rising at their fastest rate in 2 years. Chip maker Micron posts a weaker-than-expected forecast with continuing supply chain headwinds impacting sentiment. Elon Musk sells almost $7bn of Tesla shares in anticipation of the possibility he may be forced to complete the Twitter purchase. In the UK, ministers warn of possible power blackouts this winter and prepare for worst-case scenarios should energy prices continue to soar.   See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The recent U.S. equity rally pauses with the Nasdaq and S&P 500 both closing lower ahead of tomorrow’s inflation report. Chip maker Nvidia issues a Q2 profit warning due to slumping gaming sales. In China, there are further Covid flare-ups with authorities locking down in parts of Tibet and Xingjiang, just a day after restrictions were imposed on the tourist island of Hainan. Norway has warned that it may ration electricity exports to Europe following low summer rainfall affecting its reservoirs.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. non-farm payrolls surprise to the upside which help to ease recession fears but also bump up Treasury yields as investors anticipate further Fed rate hikes. Chinese exports see faster-than-expected growth in July but imports suffer due to Beijing’s strict zero-Covid policies. The recent political upheaval in Italy has prompted ratings agency Moody’s to cut the country’s outlook to negative ahead of September’s general election. And in corporate news, Berkshire Hathaway suffers a $53bn loss on its investments 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.

Investors await key non-farm payrolls jobs report. Cleveland Federal Reserve President Loretta Mester has reiterated the central bank’s resolve to rein in inflation via rate hikes. On this side of the pond, the BoE hikes rates by 50 bps – the largest move it has made in 27 years. Governor Andrew Bailey says the UK is likely to fall into recession in the fourth quarter with inflation topping 13 per cent by October. Tesla shareholders approve a 3-for-1 share split. CEO Elon Musk suggests building more giga-factories and offering a share buyback. And Chinese e-commerce giant Alibaba posts a Q2 beat but revenue falls for the first time since its New York IPO, due to Beijing’s strict zero-Covid policies.  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 rally and yields retreat as better-than-expected services data prompt investors to ignore recession concerns. This, as Fed officials continue to push to curb inflation. We hear from St Louis Federal Reserve President James Bullard who favours front-loading and shrugs off talk of a U.S. recession. We are live at the Bank of England where the MPC considers raising rates for the sixth consecutive time in what could potentially be its largest hike in 27 years. In energy news, Opec + members disappoint the White House by hiking output by a modest 100,000 bpd.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Wall Street closes in the red for a second day running and Treasury yields rise following hawkish comments from San Francisco Fed President Mary Daly, who says that the battle to rein in U.S. inflation is far from over. Tensions are high in East Asia after U.S. House Speaker Nancy Pelosi touches down in Taipei to pledge close support for Taiwan, irking the CCP administration. Pelosi is the highest ranking U.S. official to visit the island in 25 years. We speak to Société Générale CEO, Frédéric Oudéa, who has seen the lender’s Q2 revenues surge by 13 per cent. Also, Chinese July PMI storms back expanding at its fastest pace for more than a year as Covid restrictions were finally lifted.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Asian markets slide on geo-political and recession concerns. WTI falls to below $93. The RBA hikes interest rates by 50bps but the Australian dollar falls on the news. The central bank says that inflation Down Under is yet to peak. Beijing warns that it will react if it believes its sovereignty is threatened ahead of U.S. House Speaker Nancy Pelosi’s proposed visit to Taiwan. Social media company Pinterest sees shares surge in extended trade after activist investor Elliot Management confirms a large stake in the company.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. stocks rebound from a tough first half in July, shrugging off inflationary concerns to notch their best monthly performance in more than two years. HSBC reports a 15% drop in first half profit as Europe's biggest bank wrestles with rising credit losses. Demand weakness and Covid curbs hit China's manufacturing sector as factory activity shrinks in July, and EU member states prepare to tighten their belts for a long cold winter, as a voluntary 15% cut in natural gas consumption comes into effect.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 are in the green despite the U.S. economy posting a second consecutive negative quarter. The Biden administration, however, refuses to acknowledge the economy has tipped into recession. In tech news, Apple posts record Q3 revenues with iPhone demand remaining steady despite macro headwinds. Amazon’s AWS unit helps the e-commerce giant to a quarterly revenue beat. Meanwhile, rising interest rates boost Asia-focused UK lender Standard Chartered. Profits are up 19 per cent for the first half and the bank announces a $500m share buyback scheme.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The U.S. Federal Reserve raises rates by a further 75bps but does not elaborate on forward guidance. Chairman Jerome Powell says the path to that end may “narrow further” but that the U.S. is not in a recession. Equities Stateside rally as downturn fears recede slightly on his comments. Facebook parent Meta posts its first-ever quarterly decline with CEO Mark Zuckerberg citing softer digital ad spending. We also hear from Airbus CEO Guillaume Faury who says the plane maker is cutting its jet forecast due to labour shortages and supply chain bottlenecks.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

In tech news, Google parent company Alphabet sees revenue growth hit a two-year low following uncertainty about its ad spending business. Microsoft posts a miss on its top and bottom line but investors are buoyed by the company’s positive forecast. The IMF says the global economy is on the cusp of recession. We hear from the fund’s Head of Monetary and Capital Markets department, Tobias Adrian. Plus we have a whole slew of European corporate earnings, including Deutsche Bank, Holcim and Mercedes-Benz.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

UBS posts a Q2 net profit of $2.1bn but challenges persist as it records $12bn in outflows from its asset management business. Russian gas firm Gazprom has cuts European gas supplies by half, citing maintenance issues. In retail news, Walmart issues its second profit warning in 10 weeks and moves to cut its FY guidance. We’re awaiting a slew of U.S. earnings ahead of an expected rate hike by the Federal Reserve later this week.   See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Social media stocks see a sell-off following Snap’s poor Q2 earnings. U.S. Treasury Secretary Janet Yellen, however, continues to downplay recession fears. In auto news, Volkswagen CEO Herbert Diess is pushed out of the position as a supervisory board seeks to replace him with Porsche CEO Oliver Blume. Uniper shares are down by almost a third following the German government’s agreement to buy a 30 per cent stake in the beleaguered utility. The WHO declares monkeypox as a global health emergency.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The ECB raises rates by 50bps – the central bank’s first hike in 11 years, which finally lifts the benchmark rate from negative territory. Italy is once again plunged into political turmoil and faces a snap election, possibly in late September, after the coalition government led by Prime Minister Mario Draghi collapses. President Sergio Mattarella is forced to accept Draghi’s resignation and dissolve parliament. In Germany, beleaguered utility Uniper is closing in on a bailout deal with a decision expected today. The country’s economy minister Robert Habeck accuses Russia of blackmailing Europe over gas. And Wall Street closes in the green but the momentum is short-lived as social media firm Snap misses expectations for 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.

The ECB is set for a historic interest rate hike – its first in 11 years – and there is speculation it could be as much as 50bps. We are live in Rome where Prime Minister Mario Draghi is expected to resign following yesterday’s failed call for parliamentary unity. The crisis could prompt early elections this autumn. The Nord Stream 1 pipeline is to resume gas delivery following scheduled summer maintenance. However, the head of Germany’s energy regulator confirms that operations are only at 30 per cent of capacity. Tesla shares are up in extended trade as the electric car maker beats Q2 earnings expectations. CEO Elon Musk says he believes inflation is likely to top out later this year.    See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Wall Street rallies, helping along markets into the green globally as earnings season begins. Netflix manages to stem subscriber losses, losing half the number initially feared. The streaming giant was saw strong numbers in Latin America and Asia. Germany awaits the scheduled re-start of the Nord Stream 1 gas pipeline following maintenance. Gas flows look to be on track following preliminary testing. Also in Germany, trouble utility firm Uniper is close to concluding bailout talks with Berlin which is reportedly seeking a 30 per cent stake in the company. And we are live in Rome ahead of Italian Prime Minister Mario Draghi’s debate with the Senate as the political crisis in the country reaches a crucial juncture which could potentially lead to early elections in September.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Russia’s Gazprom has declared ‘force majeure’ on certain natural gas supplies into Europe provoking criticism from German utility Uniper. Apple shares tumble on the news that the tech giant will slow hiring and investment in some units as recession fears weigh. Goldman Sachs and Bank of America beat earnings expectations but both CEOs express concerns over inflation. Japanese conglomerate Softbank will postpone the London listing of microchip producer Arm following the recent political upheaval in the UK.   See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Global markets are in the green, anticipating earnings in the U.S. and Europe as well as key meetings at the ECB and the BoJ. U.S. President Joe Biden has received criticism following his meeting with Saudi Crown Prince Mohammed bin Salman. Biden hailed security ties between the two nations but failed to achieve progress on reducing oil prices. In aviation news, Boeing issues stable demand forecasts for the next 20 years ahead of the Farnborough Airshow. Europe is in the grip of a heatwave which has sparked devastating wildfires across several Mediterranean nations.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Italy’s President Sergio Mattarella has rejected Prime Minister Mario Draghi’s resignation following a split in the coalition government caused by the Five Star Movement. We are live in Rome for the latest. China’s economy contracts by 2.6 per cent in Q2, casting doubt over Beijing’s ability to hit its full-year targets. In the U.S., JPMorgan and Morgan Stanley miss on both the top and bottom lines. Weaker investment banking activity and increased provisioning have weighed on both lenders’ quarterly data. Global inflation and the conflict in Ukraine remain the focus of G20 finance ministers and central bankers in Bali, Indonesia. The OECD Secretary-General Mathias Cormann says the world must remain united to ‘soften’ the impact of the downturn. We are also live in Jeddah, Saudi Arabia, where U.S. President Joe Biden is due to arrive today as oil drops below $95 a barrel for the first time since the invasion of Ukraine.    See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. inflation hits its highest level in 41 years to 9.1 per cent. A 100bps rate hike is expected from the Federal Reserve this month. The inversion between the 2- and 10-year Treasury yields widens furthest since 2000. In Italy, Giuseppe Conte’s Five Star Movement has said it will boycott a spending vote today, threatening the ruling coalition government it is part of. And U.S. President Joe Biden embarks on a 4-day Middle East tour, landing in Tel Aviv. Iranian nuclear ambitions is the largest topic on his agenda. And in crypto news, lender Celsius files for Chapter 11 bankruptcy a month after cancelling withdrawals.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Markets await key U.S. inflation data which is expected to reach a 40-year high. However, Richmond Fed President Thomas Barkin countered negative sentiment, saying that some commentators are ‘talking ourselves into a recession’. The IMF again cuts its U.S. GDP forecast for the year by more than 0.5 per cent. The euro is hovering about parity against the dollar – its lowest level in 20 years. We hear from Dutch Finance Minister Sigrid Kaag who says a compounding of effects have caused the current low in the exchange. In the Asia-Pacific region, the central banks of South Korea and New Zealand are the latest to hike interest rates by 50bps in a bid to rein in rampant inflation. And in corporate news, Twitter sues Elon Musk for backing out of his $44bn takeover of the social media giant.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Asian equities hit their lowest levels in two years following tech weakness on Wall Street ahead of key inflation data and the start of earnings season. Increased recession fears in Europe pushes the euro close to parity with the dollar which is strengthened by further expected rate hikes by the Fed. In corporate news, Twitter is preparing to file a lawsuit against Elon Musk after the billionaire dropped his $44bn takeover bid. Eurogroup finance ministers meet in Brussels with gas prices top of the agenda. This as the Nord Stream 1 pipeline shuts down for scheduled maintenance.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Twitter vows to take Tesla CEO Elon Musk to court after he sought to cancel his $44bn acquisition of the social media company. Tory contenders jostle to replace Boris Johnson as UK Prime Minister but one early favorite, Defence Secretary Ben Wallace, pulls out of the leadership race. In Germany, troubled utility giant Uniper completes its bailout application. We hear from French Finance Minister Bruno Le Maire who says that the EU must brace for a shutdown of Russian gas. Japan’s ruling coalition increases its majority in upper house elections, two days after the assassination of former Prime Minister Shinzo Abe.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Following yesterday’s dramatic resignation, Boris Johnson stays on as caretaker prime minister until a new leader is selected. This, despite numerous calls for him to leave Downing Street immediately. We are live from Westminster for the latest. Former Japanese Prime Minister Shinzo Abe is shot while on the campaign trail for upper house elections. Japan’s current Prime Minister Fumio Kishida has said Abe is in a ‘grave’ condition. U.S. markets are in the green ahead of today’s non-farm payroll numbers. We are also live in Berlin where the German lawmakers have given the green light to further state intervention to secure the energy sector. There are reports that Chancellor Olaf Scholz’s government will seek to take a stake in excess of 30 per cent to prop up beleaguered gas utility Uniper.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

UK Prime Minister refuses to step down despite senior cabinet ministers urging him to quit late yesterday afternoon. More than 40 Conservative MPs have now left government roles. WE are live in Downing Street for the latest. June’s FOMC minutes signal more restrictive policies are being lined up in a bid to rein in U.S. inflation. French Prime Minster Elisabeth Borne announces plans to nationalise beleaguered energy firm EDF to secure ‘full control’ of the nation’s electricity. And we are live in Berlin where the Bundestag has been debating new energy security rules with the prospect of a bailout for gas utility Uniper now on the cards.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The 2- and 10-year Treasury yields briefly invert for the third time this year sparking fresh recession fears. Concerns of a global economic slowdown prompt crude prices to tumble 10 per cent before recovering. UK Prime Minister Boris Johnson’s government is in turmoil following the resignations of Chancellor of the Exchequer Rishi Sunak and Health Secretary Sajid Javid over continued political scandals. The pound plunges to its lowest level since the start of the Covid pandemic as a result. We are live in Downing Street for the latest. And we are also live in Düsseldorf, Germany, where the government is reportedly set to take on a 25 per cent stake in Uniper – the country’s largest importer of Russian gas – in order to keep the company alive following a sharp decline in supply from Moscow.   See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Beijing and Washington hold ‘pragmatic and frank’ trade talks with suggestions that the U.S. may cut tariffs in a bid to suppress inflation. The RBA raises rates by 50 bps – its third such hike in three months. Germany’s Uniper sees shares plunge by 30 per cent on reports of a government bailout. German politicians are to draft a new bill to allow Berlin to nationalize struggling gas importers. In Norway, oil and gas workers stage a two-day walkout which could cut supply by up to 89k bpd, rising to 292k bpd. And in the crypto sector more ongoing volatility forces two platforms to implement transaction restrictions.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Amazon founder Jeff Bezos slams U.S. President Joe Biden on inflation, accusing him of a ‘deep misunderstanding’ of economics. Tesla suffers its first quarterly decline in deliveries in two years due to continued Chinese Covid lockdowns. The IEA warns of a ‘red alert’ for a global recession and calls on Saudi Arabia to pump more oil while the Norwegian Oil & Gas Association says that industrial action may cut the country’s output by 13 per cent. Stateside, travellers are braced for 4th of July chaos while in Europe, Ryanair cabin crew in Spain have voted to strike.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’s preferred measure of inflation eases but remains at levels not seen since the 1980s. The S&P 500 ends H1 with its worst performance since 1970. Asian equities are down but Chinese stocks outperform as factory activity rebounds at its fastest pace for a year. Siemens reports a write-down of its stake in Siemens Energy which will create a €2.8bn loss in Q3. And in crypto news, FTX is reportedly close to buying BlockFi in a $25m fire sale.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 stares down the barrel its worst first half since 1970 while a host of other assets trade at multi-decade lows, but energy outperforms amid the turbulence with WTI on track for its longest quarterly win streak ever. The world’s top central bankers walk the inflation tightrope at the ECB's Sintra summit, with Fed Chair Jerome Powell admitting aggressive tightening could spark a recession. Over in Asia, the end of strict Covid curbs boosts the Chinese economy with factory activity expanding for the first time in 3 months while the service sector rebounds at its fastest pace in more than a year. Three Arrows Capital becomes the latest casualty of the crypto winter. Liquidators move in after the hedge fund defaults on a loan tied to big bets on digital currencies.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Turkey lifts its veto to NATO expansion, allowing Finland and Sweden to join the alliance. Secretary-General Jens Stoltenberg tells CNBC that the ‘historic’ move will be globally significant. In Bavaria, G-7 leaders have pledged to maintain sanctions on Russia to curtail key revenues. French President Emmanuel Macron tells this channel that a price cap mechanism on Russian oil is still a work in progress. We also hear from ECB chief economist Philip Lane in Sintra, Portugal, who says the central bank is set to raise rates by 25bps in July and potentially by more in September. And in U.S. markets, consumer sentiment plunges, with Wall Street on track for its worst H1 performance since 1970.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

G-7 leaders mull the feasibility of a price cap on Russian oil as French President Macron admits he faces reluctance from major international producers to boost supply. NATO announces it will increase the number of troops on high alert from 40,000 to 300,000. We are live in Madrid ahead of the bloc’s summit. A Swiss court finds Credit Suisse guilty in a high-profile Bulgarian money-laundering case. CEO Thomas Gottstein is due to face investors at the lender’s Investor Deep Dive today. Central bank governors arrive in Sintra, Portugal at the ECB Forum where ECB board member Isabel Schnabel warns that fragilities are beginning to show between nations over inflation. And in crypto news, Robinhood shares are in the red in extended trade after cryptocurrency exchange FTX denies rumours it is looking to buy the trading app.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 at Elmau Castle in Bavaria where G-7 leaders are meeting to increase pressure on Moscow through a price cap on Russian oil and a ban on imports of Russian gold. Western sanctions have pushed Russia to default on its foreign debt for the first time in more than a century. The BiS has warned that the world has reached a tipping point on inflation. French energy executives have urged consumers to cut back on gas usage, warning of social fractures should supplies fail be replenished before winter. And in the U.S., the S&P 500 posts its largest one-day rally since 2020 but overall, U.S. stocks are still set to record their worst H1 performance in more than 50 years.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 faces the House Financial Services Committee and admits that he had underestimated inflation. Lawmakers pressed the central bank chief on how he would respond should his aggressive rate hikes push the U.S. economy into a recession. Wall Street is set to break a three-week losing streak later today as a very volatile H1 comes to a close. EU leaders unanimously approve candidate status for Ukraine but European Commission President Ursula Von Der Leyen insists the process will not be rushed through. Inflation in Japan exceeds the BoJ’s expectations for the second consecutive month. Softbank CEO Masayoshi Son leads the investment titan’s AGM. He says that, despite pressure from London, chip maker ARM is most likely to list on the Nasdaq. 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 has told the Senate Committee that a soft landing for the economy is now very difficult but insists that the central bank must succeed in reining in inflation. President Biden has called for a three-month federal gas tax holiday to ease the burden on U.S. consumers. He faces strong opposition from lawmakers, including from within his own party. The GOP has branded the move as “yet another gimmick”. In France, President Macron seeks compromise with opposition parties following the loss of his parliamentary majority. And, we hear exclusively from Meta CEO Mark Zuckerberg who says that the virtual ecosystem, or ‘metaverse’ will create huge new economic opportunities.  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 hits back with its best day in June so far as Wall Street recovers from its worst weekly loss in 2 years. However, Asian markets don’t follow suit. South Korean stocks lead declines while the yen hits its lowest level in almost 24 years. Germany’s industry association, the BDI, has slashed its 2022 outlook and says a European recession is certain should Russia cut gas supplies completely. Meanwhile in the U.S., President Biden and Chevron CEO Michael Wirth spar over energy policy criticism. And in France, President Emmanuel Macron holds talks with rival parliamentary parties as National Rally leader Marine Le Pen says she was now entitled to key cabinet positions.    See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

We speak exclusively to Deutsche Bank CEO Christian Sewing who warns that spiraling inflation and the energy crisis are a “perfect storm” to trigger a European recession. Asian markets are up and U.S. futures point to solid gains following the long Juneteenth weekend. President Biden says he is considering a pause on federal gasoline tax to help ease the cost burden on Americans ahead of the driving season while downplaying the risks of the U.S economy slipping into recession. In France, President Macron is set to hold coalition-building talks following the loss of his parliamentary majority.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

President Emmanuel Macron loses his absolute majority in the French parliament to a leftist coalition and a resurgent National Rally. Germany has announced it will return to coal in a bid to secure energy supplies ahead of winter as Russia continues to cut gas output. Asian markets are in the red on the back of the worst weekly performance by the S&P 500 since March 2020. And Bitcoin claws back some losses following a sharp weekend sell-off which saw the world’s biggest cryptocurrency hit an 18-month 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 plunges to below the 30,000-mark for the first time since January last year following the Federal Reserve’s historic 75-bps rate hike. U.S. President Joe Biden says that a recession Stateside is still ‘not inevitable’ but he admitted that signs of an economic slowdown is weighing on the mood of the nation. In Luxembourg, German finance minister Christian Lindner tells CNBC that euro zone fragmentation is not a concern following a surge in bond yields within the bloc. The leaders of France, Germany, Italy and Romania visit Kyiv to demonstrate their support for Ukraine’s ‘eventual’ accession into the EU.  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 hikes interest rates by a historical 75 bps in what is its most aggressive move since 1994. Chairman Jerome Powell has suggested that July’s FOMC meeting could result in a similar move should rampant inflation show no signs of abating. The markets react immediately, with the Dow and the S&P 500 breaking five-day losing streaks. Asian stocks follow suit and European equities are set to do likewise. The ECB touts a new ‘anti-fragmentation tool’ in a bid to quell the recent bond market turmoil. Reaction, however, is muted following the central bank’s emergency meeting yesterday. The SNB is also now under pressure, warning that Swiss bank assessment has deteriorated. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. Treasury yields achieve new highs while the S&P 500 sinks even further into bear market territory as investors anticipate more aggressive rate moves from the Fed. DoubleLine Capital’s Jeffrey Gundlach calls for a 200-bps interest rate hike while legendary investor Bill Ackman slams the U.S. central bank for losing control of inflation. We are live in Berlin at the world’s largest private equity event, SuperReturn International. Meanwhile in China, retail sales continue to fall but manufacturing picks up against expectation as Beijing authorities continue to rein the current Covid outbreak. And cryptocurrency exchange platform Coinbase sacks 18 per cent of its staff as a reported ‘crypto winter’ sets in for the sector.  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 plunges into bear market territory while the 10-year Treasury yield spikes to decade highs. Goldman Sachs and JP Morgan adjust their outlooks ahead of an expected 75-bps rate hike while the CME puts the odds of such a Fed move at more than 95 per cent. Morgan Stanley CEO James Gorman believes the chance of a U.S. recession now stands at 50-50. And in crypto news, Bitcoin sinks to below $21,000 as frozen withdrawals spook investors, wiping out more than $200bn from the market since Friday’s session.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

French President Emmanuel Macron's bid for an outright majority comes under threat, as the Left surges in the first round of National Assembly elections. Credit Suisse is reportedly placed on a watchlist by the U.K.'s FCA as the financial regulator says the Swiss bank has not done enough to address risk controls. Asian stocks and US futures move sharply lower, as inflation and recession fears push the two-year Treasury yield to a 14-year high, prompting some banks to forecast a 75 basis point Fed hike this week. In China, Beijing officials warn of an "explosive" Covid outbreak, while Shanghai starts yet another round of mass testing for the city's 25 million residents.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Wall Street marks its worst day in more than three weeks as markets await a fresh read on US inflation, with CPI forecast to hold near 40-year highs. “There’s nothing to suggest a recession is in the works,” says U.S. Treasury Secretary Janet Yellen. She rejects suggestions that a downturn is on the way, highlighting that the labour market is strong. China bucks the global inflation trend, as input prices hit at 14-month low, while consumer price inflation comes in below forecasts for May.  The ECB pledges to raise rates by 25 basis points in July and leaves the door open to a more hawkish move in September, as the central bank significantly slashes growth forecasts and raises inflation expectations.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Markets focusing on the ECB. President Christine Lagarde is expected to commit to a July rate hike, despite downgrading growth forecasts, as inflation hits a record high. Yields push higher, with Germany's 10-year bund yield hitting levels not seen since July 2014. Millions in Shanghai enter new lockdowns - just as China shows signs of recovery, with May exports coming in more than double expectations. Ukrainian President Volodymyr Zelenskyy calls on American corporate leaders to fully exit Russia, warning their taxes continue to help fund the Kremlin's war.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Credit Suisse issues a profit warning, saying tough trading conditions for the investment bank will drag the group to a net loss in the second quarter. The World Bank warns of 70s style stagflation as it slashes its global growth forecasts, saying many countries will find it hard to avoid recession. U.S. Treasury Secretary Janet Yellen tells Congress the country faces an extended period of higher prices, while admitting the administration's earlier characterization of inflation was misleading. Former German Chancellor Angela Merkel defends her record, hitting back at criticism that she appeased Russian President Vladimir Putin during her 16 years in power. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

UK Prime Minister Boris Johnson survives a confidence vote, but his leadership is rocked after more than 40% of his own MPs vote to remove him from office. Across in China, Didi Chuxing was up almost 25% amid a report Chinese authorities may allow the ride hailing companies app back into domestic app stores. The Australian dollar spikes as the central bank lifts rates by a bigger-than-expected 50 basis points, the largest single rate hike since the start of the century and the first move since 2013. Elon Musk threatens to walk away from his 44 billion dollar deal to buy the social media platform unless the group provides more information on fake accounts.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Global stocks show resilience amid a stronger than expected US jobs print. Cleveland Fed President Loretta Mester tells CNBC the fight against rising prices is ongoing. Chinese service sector activity contracts for the third straight month, while Beijing eases Covid restrictions in a bid to stave off an economic downturn. Crude prices gain after Saudi Arabia hikes the price-tag of its flagship product, signaling strong demand expectations even as OPEC-plus producers accelerate output increases. A U-turn for Elon Musk as the Tesla CEO backtracks on claims the automaker will need to cut 10 percent of its workforce, after saying he feels 'super bad' about the economy. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

JPMorgan CEO Jamie Dimon warns of an economic “hurricane” on the horizon as the Federal Reserve scrambles to wind back Covid-era policy in a bid to rein in inflation. Recession fears weigh on U.S. markets on the first day of June trading. U.S. Treasury Secretary Janet Yellen tells CNBC that the White House is working on various fronts to bring inflation down. Crude prices fall following reports that Saudi Arabia could be ready to boost production should sanction-hit Russian oil decline. Meta COO Sheryl Sandberg is to step down after 14 years with the Facebook parent company. She will be replaced by Meta’s chief growth officer Javier Olivan this autumn.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Opec is reportedly set to review its Russia oil deal while the UK will back this week’s EU sea-delivered crude embargo agreement. In the U.S., President Biden has held talks with Federal Reserve Chairman Jerome Powell to discuss surging inflation. Biden promised to back the central bank’s strategy and independence in tackling price pressures. Euro zone inflation soars to its highest level since the currency was launched, causing bond yields to plunge. The decline in Chinese factory activity has eased but remains in contraction territory after authorities finally lift restrictions in Shanghai. And in banking news, Deutsche Bank’s asset manager unit DWS is raided by police conducting a ‘greenwashing’ investigation.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Oil is up after EU leaders agree to a Russian crude embargo. The deal features an exemption for pipeline deliveries after Hungarian-led opposition. President Joe Biden is to meet Federal Reserve Chairman Jerome Powell following his re-confirmation. China manufacturing activity declines for the third consecutive month but there are signs of easing as Covid restrictions are beginning to lift in Beijing and Shanghai. In banking news, Credit Suisse has slapped down suggestions it is looking to bolster its balance sheet following recent losses. Specialty chemicals giant DSM creates a merger of equals with Swiss fragrance and flavour company Firmenich.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Asian stocks are at a three-week high following the S&P 500 and Dow’s rebound on Wall Street last week. Beijing reopens shopping centres and its subway system while Shanghai says it will remove almost all Covid restrictions by mid-week. German economy minister Robert Habeck warns that European unity on a Russian oil embargo is “starting to crumble” ahead of today’s extraordinary council meeting. And Just Eat Takeaway’s move to sell Grubhub is in question as the firm is set to take a multibillion-dollar writedown.  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 are buoyed by retail stocks with department store giant Macy’s lifting guidance. In China, industrial profits plunge as Beijing's zero-Covid policies hurt manufacturers and supply chains. But tech giants Alibaba and Baidu beat earnings expectations to boost shares in Hong Kong. Staying with tech, Broadcom is set to snap up cloud computing firm VMWare in a $61bn deal. And, in the U.K., BP says it will review its North Sea investments after Chancellor Rishi Sunak unveils a windfall tax, giving hundreds of pounds to households in a bid to ease the cost-of-living 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. markets are up with the Dow set to break an eight-week losing streak, despite Fed minutes indicating the central bank may raise rates beyond neutral and into restrictive territory. We speak to ECB Countil Member Klaas Knot who suggests a 50bps hike as early as July is “not off the table”. In a bid to stave off its first national default for 100 years, Russia offers to pay off dollar debt in rubles. Ukrainian Foreign Minister Dmitro Kuleba tells CNBC that Russia is using the release of food supplies in Ukrainian ports as a blackmailing tool against the West to ease sanctions and that stronger measures are required against the Kremlin.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Doom and gloom in Davos overnight after billionaire investor George Soros issues dour economic warnings about China’s zero-Covid policy and the potential for a civilisation-ending Third World War. We hear from EC President Ursula Von Der Leyen who says the bloc is ready to green-light a Russian oil embargo “within days”. She also urged every nation to help Ukraine with its reconstruction efforts, including the use of Russian assets. U.S. retailers, led by an outlook hike from Nordstrom, rebound, lifting Wall Street back into positive territory. Treasury yields are also down to their lowest level since April ahead of Fed minutes due today. Swiss miner Glencore is slapped with $1.5bn bill to settle bribery charges in three countries. And in autos news, Stellantis CEO Carlos Tavares has warned policy makers that car companies will struggle to meet demand for EVs due to continuing raw material shortages.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

We hear from Spanish prime minister Pedro Sanchez who says the war in Ukraine is hampering the EU recovery but remains optimistic over the bloc’s unity and strong fundamentals. Speaking at a CNBC panel at the World Economic Forum in Davos, IMF managing director Kristalina Georgieva warns of increasing economic challenges while Citi boss Jane Fraser believes a recession is inevitable. We also hear from Banque de France governor François Villeroy de Galhau who says July and September hikes by the ECB are a given. U.S. markets see a banks rally but a profit warning from social media giant Snap drives tech futures on the Nasdaq lower. And in Tokyo, Quad nations agree to a new satellite-based maritime initiative in a bid to counter China.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The IMF’s managing director Kristalina Georgieva warns of a “confluence of calamities” facing the global economy. Wall Street is on the brink of bear market territory with the Nasdaq suffering its longest losing streak since the dotcom bubble. U.S. President Joe Biden signs off on a $40bn aid package for Ukraine as Russia turns off gas supplies to Finland. Belgium becomes the first nation to introduce quarantine for monkeypox infections.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Dow is on track for its eighth consecutive week in the red – something not seen for 90 years – while the S&P 500 is close to bear market territory. The PBOC is to cut borrowing costs to help the Chinese housing market as Beijing wrestles with the fallout of its zero-Covid policy. The U.S. Senate approves $40bn in aid for Ukraine while G7 finance ministers meeting in Bonn, Germany, commit to almost $20bn in budgetary support for the nation. Credit Suisse CEO Thomas Gottstein receives the backing of the bank after major shareholder Artisan Partners calls for his replacement.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Wall Street suffers its worst day since June 2020. U.S. markets broadly sell off amid inflation and growth fears, sparked by a major earnings miss from retailer Target. Asian markets follow suit with tech stocks slumping in Hong Kong while miners and energy companies plunging on the ASX. We hear from U.S. Treasury Secretary Janet Yellen who says that energy sanctions are key to hampering Russian aggression in Ukraine. And global debt balloons to more than $300tn in Q1, raising fears of corporate defaults as interest rates continue on an upward trajectory.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 insists that the central bank will continue to raise rates as long as is needed in order to rein in inflation. However, Powell did acknowledge the potential consumer pain involved in the process. Investors pump the Nasdaq by almost 3 per cent after swooping in for recently hurting tech stocks, seemingly unconcerned by a looming recession. In retail, Wal-Mart misses earnings expectations despite positive U.S. consumer data for April. And in European banking news, the Unicredit-Commerzbank tie-up is reportedly shelved due to the uncertainty brought on by Russia’s invasion of Ukraine.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Amazon founder Jeff Bezos and President Joe Biden are at loggerheads over inflation. Bezos has attacked Biden for “misdirection” over claims that billionaire tax avoidance is fueling record price pressures. Former Federal Reserve Chairman Ben Bernanke tells CNBC exclusively that the U.S. is likely to dodge a severe recession, but that it was a “mistake” that the central bank delayed acting on soaring inflation. Chinese tech stocks are higher after positive comments on the sector from JPMorgan. Tesla CEO Elon Musk has not ruled out lowering his bid for Twitter following comments about the amount of bots found on the platform. And in France, President Emmanuel Macron appoints Elisabeth Borne as Prime Minister, the first woman to hold the post in 30 years.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Sweden and Finland make the historic decision to join NATO. We are live in Stockholm where the Swedish Prime Minister Magdalena Andersson tells CNBC the country is braced for any retaliation from Russia. The G7 warns of a potential global food crisis, accusing Russia of waging a ‘grain war’, while India bans all wheat exports. EU trade commissioner Valdis Dombrovskis says protectionism will only aggravate the issue. April economic data in China is heavily impacted by rolling Covid lockdowns while soaring energy prices boost Saudi Aramco to post its largest quarterly profit since listing.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 admits that the central bank could have moved faster in raising interest rates and that he was unable to guarantee a ‘soft landing’ as April producer prices soared by 11 per cent. Wall Street caps another volatile session with U.S. stocks suffering their worst weekly performance since January. In crypto news, the collapse of stablecoins Terra and Tether raises fears of contagion in the market as Bitcoin falls to its lowest level in 16 months. And in Schleswig-Holstein, Germany, G7 foreign ministers meet to further underline their support for Ukraine. EU Foreign Affairs High Representative Josep Borrell tells CNBC that the Russian invasion will have far-reaching consequences globally.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. inflation slows for the first time in nine months, however the headline and core prints still come in above expectation. The Nasdaq suffers steep losses with Apple weighing. The tech giant loses its crown as the world’s most valuable company to oil behemoth Saudi Aramco. Strong Disney+ subscriptions fail to help Disney shares in extended trade after its CFO Christine McCarthy warns of softer streaming growth to come. And in autos news, VW CEO Herbert Diess has defended his call for a negotiated settlement in Ukraine, telling CNBC he is not putting commercial interests ahead of the human cost of the war.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Chinese consumer prices are up at their fastest rate in five months as rolling Covid lockdowns continue to impact production and supply. U.S. President Joe Biden has prioritised inflation as his top economic challenge as key data out today hints that price pressures Stateside could be finally peaking. The S&P 500 index and the Nasdaq are up but the Dow posts a fourth-straight negative session. Billionaire hedge fund investor Leon Cooperman says the market has not yet bottomed out. We hear from Finnish foreign minister Pekka Haavisto who says his country is fast-tracking NATO application, possibly moving as early as next Monday.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 sinks below the 4,000-point level – its lowest in more than a year - as the tech sell-off accelerates. The past three sessions have seen more than $1tn in mega-cap losses. Oil is down on demand concerns while the 10-year Treasury bill reaches its highest level since late 2018. In forex news the dollar is at a near-two decade high while cryptocurrencies are down, with Bitcoin leading the losses. And in autos news, Tesla has once again been forced to halt production at its Shanghai plant over supply issues while CEO Elon Musk hints at a potential agreement with the EU over Twitter’s regulation.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The U.S. slaps a raft of fresh sanctions on Russia, targeting the country’s financial sector. We hear from former NATO Secretary-General Anders Fogh Rasmussen who says the West has underestimated Russian President Vladimir Putin on several levels. U.S. and European futures are in the red following last week’s turmoil with fresh inflation data and Fed speak coming this week. In China, export growth slumps to its lowest level in 2 years as Beijing’s zero-Covid approach hits both manufacturing and output.  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 see enormous and abrupt moves following post-Fed gains with the Dow losing more than 1,000 points in its worst session since 2020. The 10-year Treasury bill surges to more than 3 per cent. The dollar strengthens to two-decade highs against various currencies ahead of an expected solid April jobs report. In Asia, tech stocks sell off sharply following last night’s Nasdaq slump – its worst session in 2 years. The BoE gives a pessimistic outlook for the UK economy, saying that price inflation may reach up to 10 per cent this year while interest rates could hit levels not seen since 2009.   See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Fed follows through on its promise to hike rates by 50 basis points – its biggest move in 22 years. Wall Street is buoyed by Chairman Jerome Powell’s comments to CNBC, playing down talk that the FOMC could move to 75bps. The BoE is expected to make its fourth straight hike of 25bps as UK inflation hovers at a 30-year high. In China, services are hard-hit by Beijing’s continued rolling Covid lockdown measures. April activity was down at its second-steepest level, hurting supply and demand. And in banking news, Société Générale has raised its bad loan provisions relating to Russia which mars its Q1 surge in trading revenue.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Ride-hailing app Lyft suffers a bumpy ride with a quarter of the company’s value wiped off in extended trade. The Federal Reserve is expected to hike rates by 50bps amid surging inflation and a tight labour market. Billionaire investor Paul Tudor Jones says the central bank’s governors are in “uncharted waters”. Natural gas is up ahead of an expected sixth round of sanctions by the EU on Moscow. This time an oil embargo is potentially on the table. Tesla CEO Elon Musk warns that some commercial and government bodies may be required to pay to use Twitter under his ownership.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The U.S. ten-year Treasury yield surpasses 3 per cent for the first time in fours years while stocks rally after the S&P 500 and the Nasdaq hit fresh lows for the year. The FOMC meets with expectations of a 50bps hike. Goldman Sachs CEO David Solomon says he believes the U.S. can avoid recession. Germany has said it will withstand a Russian oil embargo as the EU prepares a sixth package of sanctions against Moscow. In banking news, top HSBC stakeholder Ping An reportedly calls for the break-up of the lender while BNP Paribas beats expectations with Q1 profits surging 19 per cent. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Nasdaq marks its worst month since 2008 with rising rates and inflation weighing heavily on the tech sector. We hear from Berkshire Hathaway CEO Warren Buffett who says “inflation swindles almost everybody”. The legendary investor is taking large bets on the U.S. markets despite seeing “market mania”. In Asia, stocks slide after Chinese manufacturing hits its lowest level in 2 years with Beijing’s zero-Covid approach taking its toll on the economy. And in Ukraine, House Speaker Nancy Pelosi visits President Volodmyr Zelenskyy.  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 bounce back with the Nasdaq enjoying its best day for a month. However, Apple’s share price drags in extended trade, however, after CEO Tim Cook warns of an $8bn hit due to continuing Covid and supply constraints. Amazon is also in the red after reporting its first quarterly loss in 7 years, weighed down by its stake in EV maker Rivian. CFO Brian Olsavsky says that inflation is here to stay. Elon Musk makes a one-off sale of Tesla stock to help fund his Twitter deal.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

It’s a big earnings week on both sides of the Atlantic. Facebook parent Meta smashes Q1 expectations with the stock soaring 18 per cent in after-hours trade. However, COO Sheryl Sandberg tells CNBC that the outlook remains challenging. Asia-focused lender Standard Chartered hikes income guidance after a strong start in 2022 but it remains cautious on Covid fallout in China. In foreign exchange news, the dollar hits a 20-year high against the yen after the Bank of Japan resists the urge to raise interest rates. The euro, however, falls to its lowest level against the greenback in five years as Russian gas payment tensions continue throughout the bloc.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Tech stocks hit a 12-month low, compounding heavy losses for US markets in April and pulling the Nasdaq down to its worst day since September 2020. Meanwhile, Russia appears to come good on its threat to begin using its gas exports as a tool in its war with Ukraine, and standoff with Western allies. Moscow cut off gas supplies to Poland and Bulgaria, in what a top Ukrainian official calls 'the beginning of the gas blackmail of Europe'. And, we are in the thick of earnings season. Credit Suisse announced major changes at the top and reveals adjustments to its executive board, while confirming a first quarter loss and a tough time for client activity. In U.S. tech, a stronger than expected forecast sends shares of Microsoft higher in extended trade, but Alphabet disappoints on declining YouTube revenue. CFO Ruth Porat attributes part of the disappointing quarter to the tech giant's pull-back from Russia.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Elon Musk’s Twitter bid is successful after the social media group's board approves his 44 billion dollar takeover bid. The acquisition sparked a flurry of speculation over what the future of the platform may hold. The PBOC pledges more economic support, after Chinese equities post their worst day since February 2020, pushing Asian equities higher. HSBC beats expectations despite posting a near 30 percent fall in first quarter profit as Covid and inflation weigh on revenues at Europe's largest lender. CFO Ewen Stevenson tells CNBC that rate normalisation is a bright spot. And, profit at Swiss bank UBS tops forecasts at over 2 billion dollars in the first quarter, as higher trading volumes boost the bottom line, offsetting the impact from its exposure to Russia.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

CNBC is live from Paris where Emmanuel Macron has become the first French President to be re-elected in 20 years. The incumbent defeated his far-right rival with 58 point 5 percent of the vote. He told CNBC now is the time to get to work after divisive elections. National Rally leader Marine Le Pen conceded defeat, but hailed a stronger showing compared to 5 years ago and pledged to redouble efforts ahead of legislative elections in June. Global equities come under pressure, with US futures lower, after the Dow suffered its worst one-day loss since 2020 amid a four-week losing streak. Asian equities sink as Beijing races to contain an "urgent" COVID outbreak, while the death toll in Shanghai triples - dimming prospects of lockdown measures loosening. Earnings once again take centre stage with Alphabet, Amazon and Apple all reporting this week.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Treasury yields climb and global markets tumble as Fed Chair Jerome Powell tells CNBC during an IMF debate that a 50 basis point hike in May is firmly on the table. French election campaigning enters its final stretch, and polls show President Emmanuel Macron widening his lead over far-right challenger Marine Le Pen ahead of Sunday's vote. Finance Minister Bruno Le Maire tells CNBC exclusively that Macron is the only real option. Earnings season is ramping up, we take a look at Kering, which posted double digit revenue gains in the first quarter, but the French luxury group acknowledges that lockdowns in China have had "heavy consequences". And Elon Musk doubles down on his play for Twitter, saying he's lined up $46 bn dollars in financing to buy the social media giant, putting pressure on the company's board to negotiate a deal or come up with an alternative plan.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Netflix plunges with more than $50bn wiped from its market cap. Legendary investor Bill Ackman also takes a $400m hit to his Pershing Square fund as a result. EV maker Tesla reports record Q1 profits, this despite the shutdown of its Shanghai giga-factory during the mega-city’s ongoing Covid lockdown. CEO Elon Musk has told CNBC he hopes to avoid further price hikes. French presidential candidates Emmanuel Macron and Marine Le Pen lock horns during the only televised debate before Sunday’s poll. The cost of living and the Ukraine-Russia conflict were front and centre in the two-and-a-half hour contest. Russia has announced the launch of a new ‘Sarmat’ ICBM capable of hitting multiple targets anywhere in the world.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Streaming giant Netflix suffers its first subscriber loss in more than a decade as consumers cut back on entertainment and the company forecasts worse to come. CEO Reed Hastings has suggested a cheaper advert-supported plan now “makes a lot of sense”. In banking news, Swiss lender Credit Suisse warns it will take a CHF200m hit in the first quarter through exposure to the war in Ukraine while also increasing its loan loss provisions from its latest string of scandals. Meanwhile, the IMF slashes its global outlook and warns of risks to financial systems. The fund’s Tobias Adrian tells CNBC that the Fed must act “aggressively” to tame spiraling inflation. And U.S. markets lead Asian equities into the green with bank and tech stocks and recovering oil prices fuelling the gains.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The World Bank has slashed its global growth outlook for the year as price pressures, the conflict in Ukraine and ongoing lockdowns in China begin to weigh. President David Malpass tells CNBC that it’s up to advanced economies to do more to subdue rampant inflation. St Louis Federal Reserve President James Bullard tells us he would not rule out a 75-basis point hike in a single meeting, as the 10-year Treasury yield surges to its highest level for more than three years. And Twitter attempts to thwart Elon Musk takeover attempt with a ‘poison pill’. CNBC learns that private equity firm Apollo is in line to finance the buyout.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

JPMorgan sees Q1 profits slump by 42 per cent. The bank’s CEO Jamie Dimon explains that inflation and the war in Ukraine are “powerful forces that threaten the economy” and that could potentially cause recession. The S&P 500 and the Nasdaq snap three-day losing streaks as producers prices soar at their fastest rate on record. Federal Reserve governor Christopher Waller says the central bank must continue to work to bring inflation down. Ukraine is to receive up to $800m of heavy military aid from the U.S as the conflict intensifies in the east of the country. In energy news, crude prices are down after initially surging during yesterday’s session on fears over supply chain disruption and Russian oil.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. CPI hits its highest level since 1981 with energy and food prices soaring. But the core inflation read provides hope that price pressures may be peaking. President Joe Biden blames Russian president Vladimir Putin for the hike in costs. Biden also labels the Russian invasion of Ukraine as ‘genocide’ for the first time, while Putin declares peace talks with Kiev are at a ‘dead end’. Sino-Russian trade, meanwhile, rises almost 30 per cent in Q1 but imports from elsewhere are hampered by continuing supply chain disruption. And in luxury news, LVMH enjoys renewed demand for labels Dior and Louis Vuitton but CFO Jean-Jacques Guiony says the outlook in China remains opaque.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. equities tumble ahead of today’s inflation report with CPI forecast to hit its highest level in 41 years. All non-essential U.S. consular staff are ordered to leave Shanghai whose 25 million residents are locked down, battling the country’s worst Covid outbreak since the start of the pandemic. We speak exclusively to Mercedes Benz chairman, Ola Källenius, who says that the recent conflict-related spike in energy prices is a “wake-up call” for Europe. This, as OPEC nations warn the EU that Russian crude volumes would be almost impossible to substitute with further sanctions risking what could lead to one of the most damaging supply shocks ever.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Emmanuel Macron and Marine Le Pen advance to the second round of the French presidential elections with both candidates increasing their voting share from 5 years ago. Some polls are predicting a Macron victory within the margin of error, but a member of Le Pen’s Rassamblement National tells CNBC his party is confident it can pick up votes from unsuccessful candidates. We are live in Paris for the latest. In China, consumer prices surge at their fastest pace in 3 months amid continuing disruptions to supply chains and high energy costs. And in Ukraine, President Volodomyr Zelenskyy has welcomed EU and UK leaders in Kiev over the weekend, while his country braces for a massive new Russian assault in the east.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The UNGA has voted to expel Russia from its Human Rights Council while NATO members have announced additional arms supply to Ukraine. Secretary-General Jens Stoltenberg has warned that, with the fighting shifting to the Donbas, the conflict is entering a new, intensified phase. In France, last-minute campaigning ahead of the Sunday’s presidential election first round sees Marine Le Pen closing the gap in the polls on incumbent Emmanuel Macron. France’s Minister for Transformation and Public Services, Amelie de Montchalin, tells CNBC a Le Pen presidency would weaken and damage France. And at Tesla’s Cyber Rodeo, CEO Elon Musk pledges to make half a million Model Y SUVs a year at the EV maker’s new plant in Texas.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Fed’s March meeting minutes indicate policy makers might be willing to adopt a more aggressive tightening schedule than previously thought. FOMC members are broadly in agreement to slash $95bn per month from the balance sheet over three months, probably starting in May. Half-point rate hikes are also highly likely to come into effect in future meetings. U.S. equities fall as a result, while the 10-year Treasury yield hits a three-year high. Back in Europe, EU nations have stopped short of a consensus on banning Russian oil outright as Washington takes aim at the Russian financial system and President Vladimir Putin’s family. With just three days to go before the first round of the French presidential election, we speak to Laurent Jacobelli, Grand Est regional president for Marine Le Pen’s RN party, who says the country “needs and wants change” after President Emmanuel Macron’s five years in power.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The U.S. moves to ban Russian investment and crack down on the country’s banks and state firms. Across the Atlantic, the EU launches a fifth round of sanctions aimed at coal exports and shipping. Ukrainian President Volodomyr Zelenskyy calls on the UN Security Council to launch Nuremburg-style trials to punish alleged Russian war crimes in his country. Meanwhile, U.S. and Asian markets take a dip, after Fed vice-chair nominee Lael Brainard indicates the central bank may seek more aggressive monetary policy tightening to combat inflation. And in China, the services sector has shrunk at its fastest rate in two years amid ongoing Covid lockdowns.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Ukraine has accused Russian troops of war crimes after hundreds of civilian deaths were revealed in Kyiv satellite towns. Ukrainian President Volodomyr Zelenskyy has been joined by world leaders in condemnation of the alleged atrocities. European Union leaders promise more sanctions, while the bloc doubles down on its rejection of President Putin’s decree that all payments for Russian gas be made in rubles. The EU’s Economy Commissioner Paolo Gentiloni has told CNBC that Brussels intends to strictly enforce energy contracts. Meanwhile, French electoral campaigns are heating up for May’s presidential vote. Incumbent Emmanuel Macron has seen his lead slashed with National Rally’s Marine Le Pen rising in opinion polls. In Hong Kong, CEO Carrie Lam has announced she will not seek a second term in office citing family commitments. And in autos news, Tesla reports a stellar first quarter, despite supply chain issues and a shutdown at its Shanghai plant.   See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Vladimir Putin issues a presidential decree to demand that “unfriendly” nations pay for energy bills in Russian rubles or have their supplies suspended. We are live on the shores of Lake Como where CEO of the European House Ambrosetti, Valerio De Molli, tells CNBC Europe’s energy strategy in the face of Russian aggression has been “naïve”. In the U.S., President Biden announces he will again tap American emergency oil reserves, releasing up to 1m barrels a day in a bid to calm pump prices. Investors are braced for today’s U.S. non-farm payroll job numbers as the Fed’s preferred inflation gauge reaches a 40-year high. And, Beijing extends Shanghai’s staggered Covid lockdown, affecting manufacturing activity.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Crude prices fall on news that President Biden will release the largest ever volume of strategic oil reserves – the third time in six months. There are intelligence reports that Russian military top brass is deliberately misinforming President Vladimir Putin about personnel and territorial losses in Ukraine. Chinese March economic data suffers a double-whammy in March with both manufacturing and services contracting for the first time since the beginning of the pandemic. And in the U.S., markets are due to end Q1 following their worst performance since the start of 2020.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Russian negotiators announce there will be a dramatic scale-back of troops around Kiev after Ukraine agrees to take a neutral position regarding NATO membership in exchange for security guarantees. The Istanbul talks are met with scepticism. U.S. President Joe Biden says he is adopting a ‘wait-and-see’ approach. U.S. markets, however, close higher on hopes of tensions easing. Following a short inversion of the 2 and 10-year yields, Philadelphia Federal Reserve President Patrick Harker tells CNBC that the move does not accurately predict a coming recession. We also hear from Italian Foreign Minister Luigi Di Maio who says the West must maintain pressure on Moscow to achieve a ceasefire in Ukraine.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Ukrainian Foreign Minister Dmytro Kuleba says his country will not trade off its sovereignty but he hopes a ceasefire will result from today’s peace talks in Istanbul. U.S. President Joe Biden doubles down on his ad-libbed comments at the weekend regarding leadership change in Russia. G-7 nations have rejected Russia’s demand to be paid in rubles. German Finance Minister Christian Lindner says he will not stand for Moscow’s “blackmail”. Oil continues to plummet with Shanghai in its second day of lockdown while UAE energy minister Suhail Al Mazrouei tells this channel that Russia will remain a key player in Opec+. And the gap between the U.S. two- and ten-year treasury yields narrows to its lowest level since March 2020, raising recession fears.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Russia and Ukraine are set for renewed peace talks in Istanbul today. The White House battles the fallout from U.S. President Joe Biden’s Warsaw speech, denying it is targeting regime change in Moscow. We speak to TotalEnergies CEO Patrick Pouyannée who says his company will not do business with Russian President Vladimir Putin but defends his refusal to completely write off the company’s Russian assets. Qatari foreign minister Mohammed bin Abdulrahman Al-Thani says his country is boosting its gas exports to other nations as the Ukraine conflict continues.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

President Biden warns Russia of a strong response from NATO should it use WMDs in Ukraine. He touted the alliance’s renewed sense of unity, announcing fresh sanctions on Moscow and promising humanitarian aid to Kiev. The NATO, G-7 and EU meetings were dominated by talk of China’s tepid attitude to Russian aggression. NATO Secretary-General Jens Stoltenberg tells CNBC that Beijing must join the international response in condemning the conflict. Washington has assured Europe of LNG deliveries by the end of 2022 and German Chancellor Olaf Scholz tells this channel that speeding up his country’s energy mix is key to moving away from reliance on Russia. We also hear exclusively from French Economy Minister Bruno Le Maire, who says that the Ukraine conflict has ended the “happy, naïve” model of globalisation”.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

One month after the invasion of Ukraine, NATO leaders hold another emergency meeting in Brussels with new measures expected to be introduced. President Biden is to hold a series of summits with allies promising a serious reinforcement of the bloc’s eastern flank while NATO Secretary-General Jens Stoltenberg warns of the long-term security consequences of the conflict in Ukraine. Russian President Vladimir Putin has demanded that all gas supplies to “unfriendly countries” must now be paid for in rubles. And, as Western sanctions and collapsing imports begin to take effect, the IIF has predicted that the war will cost Russia 15 years of economic growth. Meanwhile, Ukrainian President Volodomyr Zelenskyy has called out French companies to quit their operations in Russia. Car giant Renault subsequently pulls out of the country and downgrades it margin outlook.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The U.S. 10-year Treasury yield spikes to its highest level since 2019 on Fed Chairman Jerome Powell’s recent hawkish comments. Asian equities, however, enjoy a three-week high with the Nikkei leading gains for the session. Billionaire investor Carl Icahn warns CNBC of a coming recession “or worse” as runaway U.S. inflation is compounded by the Ukraine invasion. CNBC learns that the EU is now unlikely to achieve unanimity on a Russian oil embargo with only a minority of member states supporting the move. The bloc will look for alternative methods to increase sanctions on Moscow. U.S. President Joe Biden heads to Brussels promising to target members of the Russian Duma with further restrictions and to offer refuge to fleeing Ukrainians. And in tech news, Elon Musk opens Tesla’s first European gigafactory near Berlin.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. Fed Chairman Jerome Powell issues a stark warning about rising inflation, saying he is prepared to ‘move more aggressively’ if necessary. U.S. markets tumble and 10-year Treasury yields hit their highest levels since 2019 as a result. U.S. President Joe Biden believes that as the Ukraine conflict continues, desperation may lead to President Putin to using chemical or biological weapons in the country. President Volodomyr Zelenskyy says that any resolution to end the war with Russia would require a referendum. The EU says it is ready to increase sanctions on Russia, with agreement on a full oil embargo looking increasingly likely.   See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Ukraine rejects Russian demands to surrender Mariupol as fighting intensifies in the besieged south-eastern city, while Russian forces cut the region off from the Sea of Azov amid a growing humanitarian crisis. China deflects criticism, insisting it is on the "right side of history" over the invasion of Ukraine, as President Biden warns of consequences if Beijing provides material support to Moscow, while China's Foreign Minister hits back at U.S. interference. U.S. and European stocks log their best week since 2020, but Asian equities start the week lower as the Fed-driven relief rally seems to fade. And, Germany agrees to a new long-term energy partnership with Qatar, as Europe's biggest economy looks to wean itself of its dependency on Russian energy.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. Secretary of State Antony Blinken dials up the pressure on China ahead of talks between Presidents Biden and Xi, slamming Beijing for refusing to condemn Russian aggression in Ukraine. Nato, meanwhile continues to reinforce its Eastern flank. We are live at an Estonian military base, where the Russian threat seems to have galvanised the alliance. Moscow avoids defaulting on its dollar- denominated interest bond repayments with JPMorgan reportedly processing the funds. In other market news, the VIX slumps to a one-month low which in turn helps U.S. markets turn positive for the week – their first in six – while crude prices surge past the $100-mark once again. Chinese President Xi vows to help ease the economic pain caused by his zero-Covid policy despite daily cases rising to their worst level since the start of the outbreak in the country. And in France, President Emmanuel Macron kicks off his re-election campaign by casting himself as a war-time leader.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The U.S. Federal Reserve hikes rates for the first time since 2018 and indicates that there are six more to come in 2022. Wall Street jumps at the close on Chairman Jerome Powell’s assertion that the U.S. will likely avoid a recession. The central bank, however, downgrades growth forecasts while predicting core PCE will hit 4.1% at the end of the year. President Joe Biden calls Russia’s Vladimir Putin a “war criminal”, eliciting a sharp rebuke from the Kremlin. Washington approves up to $800m of military assistance to Kiev as Congress greets a video address by Ukrainian President Volodomyr Zelenskyy with a standing ovation. Zelenskyy tells NBC News that World War 3 may already be under way.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Ukrainian President Volodomyr Zelenskyy says that talks with Moscow are becoming more realistic, admitting that NATO membership is unlikely. Zelenskyy hosted the prime ministers of Poland, the Czech Republic and Slovenia in Kiev. President Biden is to attend an extraordinary meeting with NATO leaders in Brussels next week. Meanwhile, Russia faces its first sovereign default on foreign currency debt in more than a century. Nickel trading will resume on the LSE which imposed a 5 per cent price move cap, after prices surged last week over continuing Russian supply fears. In Hong Kong, tech stocks rouse the Hang Seng after two days of huge declines while on Wall Street, the S&P 500 posts its first positive session in 4 days.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. and Chinese security officials hold seven-hour talks in Rome regarding the invasion of Ukraine but differing accounts of the meeting emerge. U.S. Deputy Treasury Secretary Wally Adeyemo tells CNBC there will be no let-up in sanctions pressure on Moscow. In Brussels, EU finance ministers agree to a fourth package of sanctions measures against Russia, including the removal of WTO ‘favoured nation’ status. We hear from German finance minister Christian Lindner who says Europe must be wary of risks to its own economy resulting from the conflict. Chinese tech stocks sell off for a second day after posting their worst session since 2008 amid a new Covid outbreak in several regions. However, retail sales and industrial output data help to beat expectations for January and February.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Washington and Beijing plan to hold high-level talks in Rome following reports that Russia has approached China for military equipment to support its Ukraine invasion. Moscow has also threatened to honour bond payments in rubles in retaliation to the freezing of more than half of its reserves. IMF Managing Director Kristalina Georgieva says that a Russian default is no longer “improbable”. Russian forces attack a military training base in western Ukraine, less than 30km from the Polish border, prompting Ukrainian President to once again call for NATO to close his country’s skies. Meanwhile, Asian markets are mixed. Australian and Japanese stocks surge but the Hang Seng plunges following renewed Covid cases and lockdowns in mainland China.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Russian forces near the Ukrainian capital, while conditions within the besieged southern port city of Mariupol worsen following unsuccessful talks between foreign ministers Dmytro Kuleba and Sergei Lavrov. Asian markets are in the red with Hong Kong’s Hang Seng leading the losses following a poor session by tech stocks on Wall Street. Oil is on course to complete its worst-performing week since November. ECB President Christine Lagarde announces an acceleration in tapering amid price pressures and geopolitical uncertainty. Stateside, inflation hits a new 40-year high with prices up by almost 8 per cent. U.S. Treasury Secretary Janet Yellen, however, is sanguine about the prospects of a recession. And we are live in Versailles where French President Emmanuel Macron hosts EU leaders to discuss energy independence and a unified response to Moscow’s aggression in Ukraine.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Ukraine accuses Russia of genocide after its forces bombed a children’s hospital and maternity ward in the southern port city of Mariupol. Ukrainian President Volodomyr Zelenskyy suggested he has cooled on potential NATO membership ahead of talks between Foreign Minister Dmytro Kuleba and his Russian counterpart Sergei Lavrov in Antalya today. The S&P 500 posted its best day since June 2020 and the trading momentum pushed European equities to their biggest single-day gains for almost a year, with Asian stocks following suit. Oil has also recovered following a sharp decline. In corporate news, e-commerce giant Amazon has approved a 20-for-1 stock split as well as a $10bn share buyback.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The U.S. has banned all imports of Russian oil as sanctions against Moscow are tightened. President Biden has admitted that the move will impact Americans further at the gas pump. As Russian forces inch towards the Ukrainian capital, the director of the CIA, William Burns, warns of “an ugly next few weeks”. In the UK, the House of Commons is addressed by Ukrainian President Volodomyr Zelenskyy who remains defiant, paraphrasing Winston Churchill in his speech. U.S. markets suffer another rollercoaster session, closing in the red. Gold surges on increased embargo and inflation fears. Meanwhile, McDonald’s, Coca-Cola, Pepsi and Starbucks have announced they are suspending operations in Russia.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Russia has increased shelling in Ukraine but says it has offered ceasefires in several regions to allow for humanitarian corridors to operate. Kyiv, however, says Russian forces have fired on fleeing civilians. Ukrainian President Volodomyr Zelenskyy remains in the capital and vows to fight on. U.S. markets closed firmly in the red with the S&P 500 posting its worst session since October 2020. Russian Deputy Prime Minister Alexander Novak has said an oil price embargo on his country could push crude prices to $300 per barrel, while German Chancellor Olaf Scholz appears to cool on the prospect of a total import ban. German utility firm Uniper has written down €987m in Nord Stream 2 loan losses. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The U.S. and EU inch closer to banning Russian oil imports, sending crude prices to levels not seen since the Great Financial Crisis. Asian equities plunge as a result with tech, consumer and autos weighing in particular. The Nikkei 225 posts its lowest level since late 2020. In Ukraine, President Volodomyr Zelenskyy accuses Russian forces on firing at civilian evacuation corridors in the besieged port city of Mariupol. Russian President Vladimir Putin says that a NATO-enforced no-fly zone above Ukraine would be tantamount to a declaration of war.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

A fire at Europe’s largest nuclear plant rattles global markets after heavy fighting in Ukraine. Kyiv warns that an explosion at the site could dwarf the Chernobyl disaster ten times over. The U.S. activates its nuclear response team, and the EU’s Energy Commissioner, Kadri Simson, tells CNBC that targeting nuclear facilities would violate global regulations. We are live at NATO headquarters in Brussels as the alliance holds an emergency meeting in what will arguably be one of its most crucial days of diplomacy. And in the U.S. non-farm payrolls are set to show slowing job growth. Cleveland Fed President Loretta Mester tells CNBC that it’s critical the central bank gains control over inflation.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Dow snaps a two-day losing streak and Treasury yields surge after Fed Chair Jerome Powell confirms that a 25-basis point interest rate hike is still likely this month. Crude prices soar to highs not seen in around a decade as OPEC+ nations refuse to veer from a previously agreed gradual output increase. Russia claims to have captured the southern Ukrainian city Kherson, the first of its offensive. But Kyiv disputes the Kremlin’s claims. Ratings agencies Fitch and Moody’s downgrade Russian sovereign debt to junk status, and Russian stocks are removed from the MSCI and FTSE Russell indices.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

President Biden holds his first State of the Union address, slapping Russian President Vladimir Putin’s regime with the closure of U.S. airspace. He also announces an SPR release in a bid to re-balance crude prices which have hit their highest level in almost nine years. In Kiev, Russian airstrikes target the main TV tower as a huge convoy continues to crawl towards the capital. And China has indicated that it could provide mediation between Ukraine and Russia to reach a ceasefire.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Ukraine’s second-largest city, Kharkiv, suffers sustained bombardment after yesterday’s peace talks in Belarus stalled and slowing Russian infantry advances reportedly frustrate Russian President Vladimir Putin. We hear from Ukrainian foreign minister Dmytro Kuleba who says every Russian rouble is now stained with his countrymen’s blood as the West intensifies sanctions on Moscow. French President has held talks with EU chiefs and also speaks to Putin and Ukrainian president Volodomyr Zelenskyy. UK Prime Minister Boris Johnson is due in Warsaw and Tallinn later today. Equinor and Shell follow BP in exiting Russian JVs and Volvo, Daimler and Mastercard also suspend activities in the country in response to the invasion.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Western allies launch a raft of new measures designed to hobble Russia’s economy following its invasion of Ukraine. Sanctions target the country’s central bank and lenders have been cut out of the SWIFT system. The rouble has collapsed to a fresh record low despite Russian central bank efforts. Russian President Vladimir Putin has placed his nuclear deterrent forces on high alert ahead of proposed negotiations with Kiev along the Belarussian border. BP has dumped its 20 per cent stake in Rosneft in protest at the invasion. The move has prompted fears of a $25bn write-down. We are live in Moscow and Przmyśl on the Poland-Ukraine border, with an eye on the humanitarian crisis brewing as Ukrainians flee the fighting.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Ukrainian President Volodomyr Zelenskyy says Russian bombing has resumed, targeting both military and civilians throughout the country. The nation’s health ministry reports 57 casualties and up to 170 injuries. Western allies have outlined a huge package of sanctions designed to hit up to 70 per cent of Russian banks. However, EU leaders stop short of cutting Russia out of the SWIFT payment system. We’re live in Kraków, Poland and in Moscow where President Putin has met with business leaders as the sanctions begin to take effect. Markets see a late reversal in the U.S. and oil prices stabilise, albeit at levels not seen since 2014.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

President Putin launches a military invasion of Ukraine. Ukraine’s foreign minister, Dmytro Kuleba tells CNBC “this is an attack on the world order” as Kyiv calls an emergency UN Security Council session. President Biden pledges severe sanctions against Russia, and the sentiment is echoed by German Chancellor Olaf Scholz who calls the attack “a dark day for Europe”. Markets sell off with Brent crude surging beyond the $100 mark, while the ruble tumbles to a record low versus the dollar.    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 and Western allies impose a barrage of sanctions against the Kremlin and close associates, spooking markets with the S&P 500 sinking into correction territory. As part of the sanctions measures, Germany freezes the certification of the Nord Stream 2 pipeline but former Russian President Dmitry Medvedev warns of a “brave new world” of spiralling gas prices in Europe. The EU sanctions 351 Duma members and 27 other individuals or bodies suspected of undermining Ukrainian sovereignty. And in corporate news, Rio Tinto boasts its strongest balance sheet in 15 years amid surging global commodity prices.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

President Putin orders his forces into the rebel-held eastern Ukrainian regions of Donetsk and Luhansk, sending Asian equities and U.S. futures into a nosedive. U.S. President Biden signs an executive order to slap sanctions on the breakaway regions, with further action promised – as well as from the UK and the EU. HSBC hikes guidance as FY profits more than double. And U.K. Prime Minister Boris Johnson lifts all Covid-era restrictions in England but warns that a virus resurgence remains a possibility. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Presidents Biden and Putin agree to in-person talks proposed by French President Emmanuel Macron. The White House, however, says the meeting is contingent on Russia not crossing into Ukrainian territory. Speaking to CNBC at the Munich Security Conference, German Chancellor Olaf Scholz says he believes the West should refrain from revealing its sanctions plan for now – even as Ukraine’s President calls for immediate action. Swiss lender Credit Suisse is forced to defend its working practices following a data leak which reportedly shows it held accounts for a variety of criminals and sanctioned dictators. And in England, all Covid-era restrictions are set to be lifted as Prime Minister Johnson lays out his plan for living with the virus.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Dow suffers its biggest drop of the year, falling more than 600 points on renewed Russian-Ukrainian tensions. The White House claims Moscow is close to engineering a false-flag incident before invading, after border skirmishes. German insurance giant Allianz reports a Q4 loss on the back of a €3.7bn U.S. fund implosion charge. And Tesla CEO Elon Musk causes a storm on Twitter by likening Justin Trudeau to Adolf Hitler, before slamming the SEC, accusing it of attempting to curb his free speech in its oversight of his communications with stakeholders.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

We have a slew of European earnings today. British Asia-focused lender Standard Chartered misses on the bottom line despite full-year pre-tax profits more than doubling. French plane maker Airbus smashes FY profit records and resumes dividend payouts. We will also have earnings from Schneider Electric, Commerzbank and Kering. U.S. markets have a mixed session and close flat following the release of Fed minutes which suggest little support for robust tightening. Meanwhile, the U.S. and Ukraine cast doubt on Russian claims of troop withdrawals - and President Volodomyr Zelenskyy says Moscow is doing the opposite, concentrating even more forces along Ukraine’s north-eastern 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. equities snap a three-day losing streak as tensions between Russia and Ukraine show some signs of easing. Crude prices remain stable as Russia claims to withdraw some forces from the border, but President Biden warns that the West will remain alert to further moves by Moscow in the region. In China, factory prices surge more than 9 per cent for the year despite inflation figures coming in lower than expected. We also hear from ECB board member, François Villeroy De Galhau who says that the central bank may begin winding down its asset purchase programme but that talk of rate hikes remains “premature”.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The U.S. is to temporarily move its embassy from Kyiv to the western Ukrainian city of Lviv after U.S. Secretary of State Antony Blinken warns of a dramatic increase in Russian troops along the border. German Chancellor Olaf Scholz is due in Moscow later today for talks with President Putin. The tensions are felt throughout U.S. markets which closed lower and saw the 10-year Treasury yield briefly surpass 2 per cent. CNBC hears from St Louis Fed President James Bullard who says the Federal Reserve must act sensitively when hiking rates. Ongoing uncertainty about a potential Russian invasion of Ukraine has also hit crude prices which had been at a seven-year high. However, BP CEO Bernard Looney tells CNBC his company is committed to its business in Russia. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

It’s been a weekend of high-end diplomacy throughout Eastern Europe. President Biden has spoken to both President Putin and his Ukrainian counterpart Volodomyr Zelenskyy after U.S. intelligence suggested that a Russian invasion of Ukraine could happen “any day now”. Germany is among more than a dozen nations warning its citizens to leave Ukraine as Chancellor Olaf Scholz prepares to visit Kiev in a show of solidarity. Tensions are felt across Asian equities after Wall Street saw a late sell-off on Friday while crude prices surge over the $95 mark. In France, Les Républicains presidential candidate Valérie Pécresse holds a major rally in Paris. Her spokesperson Alexandra Dublanche tells CNBC she represents a serious threat to Emmanuel Macron.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

US consumer prices surge to a 40-year high in January, sending the 10-year Treasury yield past the 2 percent mark. But, President Biden tells NBC he still believes price pressures will ease despite persistent inflation prints. Markets respond as yields spike and the Dow drops more than 500 points, with hawkish comments from St. Louis Fed President James Bullard compounding the tech stock losses. Meanwhile, talks in Berlin fail to de-escalate the Russia-Ukraine crisis. The UK Foreign Secretary's mission to Moscow also comes up short, after sharp exchanges between Liz Truss and Sergei Lavrov. And France goes all in on nuclear. President Macron announced the country’s “nuclear renaissance,” after giving the green light for at least half a dozen new reactors, which he says will help push the country towards carbon neutrality.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Credit Suisse posts a more-than CHf2 billion net loss in the fourth quarter, as the embattled lender claims this will be a "transitional year" following a series of scandals. Net income at Société Générale almost quadruples in the fourth quarter, boosted by strong equity trading revenues as the French lender says it is entering 2022 with confidence. Strong demand in China and the U.S. sees L'Oréal full-year revenue jump 16% - as CEO Nicolas Hieronimus hails an "historic year" for the beauty group. And, Disney shares jump in extended trade as streaming subscriptions beat estimates and theme park business roars back to life. CEO Bob Chapek tells CNBC the decision to raise prices at peak times is just part of the "circle of life".See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Peloton shares surge after the exercise bike maker announces major overhauls, slashing targets, cutting thousands of jobs and installing a new CEO. It’s a busy day for global earnings, with cost pressures affecting most manufacturers. Toyota quarterly profit tanks 20 percent as the world's largest automaker cuts its production targets amid the global semiconductor shortage. Italian lender Banco BPM swings to a fourth quarter profit - beating expectations on higher revenues and shrinking loan loss provisions. And European leaders agree on the need to show a unified front and pull all the stops to avoid war in Europe, as Russia and NATO continue to mobilise forces.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Softbank's 66 billion dollar sale of ARM to Nvidia collapses under intense regulatory pressure, with the Japanese investment giant opting to pursue a 2023 IPO for the chip business instead. Still in the chip space, CNBC learns Tesla is tweaking steering components in some made-in-China cars, in a bid to meet sales targets amid the global chip shortage. Meanwhile the SEC subpoenas Tesla over fraud allegations in Elon Musk's tweets. Another big posts a beat. BNP Paribas has an upbeat fourth quarter and sets out a new growth strategy to 2025. CFO Lars Machenil tells CNBC the bank is prepared for any ECB rate hikes. And, US President Joe Biden draws a line in the sand, threatening to put an end to Nord Stream 2 if Russian soldiers set foot in Ukraine - after meeting with German Chancellor Olaf Scholz in DC.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Chinese stocks kick off the Year of the Tiger on a high following a strong week on Wall Street, which saw the best performance from the S&P 500 so far this year. U.S. 10-year yields surged to their highest level in more than two years following a far better-than-expected January jobs report. Russia-Ukraine tensions continue to brew with Washington saying that Moscow has lined up to 70 per cent of the troops and hardware required for a full-scale invasion of its southern neighbour. German Chancellor Olaf Scholz has defended Germany’s NATO contribution on his way to meet with President Biden. Meanwhile, French President Emmanuel Macron has told newspaper Journal de Dimanche that he believes he can de-escalate the crisis during his visit to meet with President Putin in Moscow today. And in M&A news, shares of fitness equipment maker Peloton soar by more than 20 per cent on reported interest from Amazon and Nike.   See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S equities close sharply lower as Meta breaks a one-day record for market cap loss with more than $230bn wiped from its value. However, U.S. futures are buoyed by strong earnings from Amazon and Snap. Tensions are still high in Ukraine and the White House claims Russia is planning a ‘false flag’ incident to force a pretext to invade the country. We hear from Julianne Smith, U.S. ambassador to NATO who says the alliance is keeping the door for diplomacy wide open. BoE governor Andrew Bailey tells CNBC that the higher rate path is still uncertain due to an unpredictable growth outlook. Four MPC members pushed for a larger 0.5 per cent interest rate hike to check ballooning inflation.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Meta suffers a share wipe-out in extended trade with $210bn disappearing from its market cap. It’s the largest quarterly miss for the company formerly known as Facebook and has caused Nasdaq futures to slide by more than 300 points. The Nikkei also turns red. Streaming platform Spotify plunges despite a beat on the top and bottom line on weak predicted subscription numbers. We are also live at the ECB as well as the Bank of England where a second consecutive rate hike of 25 basis points is expected.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Google parent company Alphabet posts a big Q4 profit beat and launches a 20-for-1 stock split. We have a slew of European corporate earnings today, too. Spanish lender Santander records more than €2bn in quarterly profits on strong customer growth and Julius Baer reports a record-breaking full year. Swiss pharma giant Novartis is courted by a number of private equity suitors keen on its generic drugs arm Sandoz. We are also live in Kiev, as Russian President Vladimir Putin accuses NATO of having ‘played’ his country over security concerns on the east Ukrainian border. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

UBS overcomes higher litigation costs, reporting a 14 per cent rise in full-year net profit. The Swiss lender launched a new set of ambitious targets to capitalise on recent performance and plans to buy back $5bn of shares in 2022. The S&P 500 wraps up a torrid January in the red – its worse month in two years. In the UK, the fallout from the Sue Gray ‘partygate’ report continues. Prime Minister Boris Johnson has refused to step down but has apologised over multiple breaches of Covid regulations at No.10 Downing Street. And in M&A news, Sony swoops in for video game maker Bungie in a deal worth $3.6bn.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Wall Street looks set to close the month sharply lower, with the Nasdaq set for its worst month since 2008 as investors prepare for tighter Fed policy. The U.K. targets Russian oligarchs amid red-hot tensions between Kyiv and Moscow, with Foreign Secretary Liz Truss saying new sanctions will send a clear message. In Italy, Sergio Mattarella signs on for a second term as President, after lawmakers fail to agree on a compromise candidate. And, Vodafone comes under activist attack – as Cevian Capital reportedly builds a stake and calls for structural change.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Apple reports its best quarterly earnings ever, beating expectations for Mac and iPhone sales over Christmas. On a conference call, CEO Tim Cook says that supply chain issues are showing signs of fading. Not so for Tesla, however, with shares dragging down Wall Street during another volatile session on Thursday after CEO Elon Musk sounded a warning over chip shortages. Luxury giant LVMH enjoys record FY profits and sales buoyed by demand for high-end accessories in the U.S. and China. And President Biden has warned Ukrainian President Volodomyr Zelenskyy that an invasion by Russian forces may be imminent after Pentagon reports of further troop build-ups at the border overnight.   See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Federal Reserve Chairman Jerome Powell all but confirms a March rate hike at the next FOMC meeting. He hints there will be more to come, again causing waves on Wall Street. Asian markets and U.S. futures slumped into the red, while short-term Treasury yields neared two-year highs following Powell’s speech. Earnings season is under way with Tesla posting record Q4 results and issuing positive guidance, but CEO Elon Musk admitted continuing chip shortages would constrain new vehicle production. In politics, the U.S. ambassador to Russia hand-delivers Washington’s response to Moscow’s security demands on Ukraine and NATO expansion.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Dow swings from an 800-point loss back into the green before sinking into the red once more. Hayman Capital Management’s Kyle Bass tells CNBC that the Fed is a tinder box for markets, ahead of today’s crucial decision where it’s expected to signal the first rate hike in more than three years. U.S. President Joe Biden reiterates warnings to Russia against invading Ukraine, saying that any such move would “change the world”. Microsoft delivers a Q4 beat on the top and bottom lines, with a strong outlook, but shares have suffered in the recent tech sell-off – on course for its worst month in more than a decade. 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 ride a rollercoaster session on Monday – making their biggest intraday comeback since the GFC - with the Dow recovering more than 1,000 points. Asian equities fail to follow suit, with the Nikkei slumping to a two-year low. Credit Suisse warns fourth-quarter profit will be negatively impacted by litigation costs of around CHF500m with the lender saying it now only expects to roughly break-even. Moscow says the U.S. and NATO are ramping up tensions over Ukraine as President Biden places 8,500 troops on high alert and NATO sends warships and jets to the region. And in Italy an impasse over the presidential vote looms after more than half of lawmakers’ ballots come back blank in the first round.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 and the Nasdaq both post their worst week since the start of the pandemic, with markets skittish ahead of this week’s Federal Reserve meeting. We hear from IMF managing director Kristalina Georgieva who says central bank clarity is vital for global economic recovery. Georgieva spoke to us during a Davos Agenda panel on the global economic outlook, which also featured the ECB's Christine Lagarde, the BOJ's Haruhiko Kuroda, as well as Brazil's Economy Minister and Indonesia's Finance Minister. In Italy, former Prime Minister Silvio Berlusconi drops out of the presidential race. Current prime minister Mario Draghi remains favourite to take over from Sergio Mattarella. Meanwhile, the U.S. recalls all non-essential embassy personnel from Kiev, as the UK government considers strident financial sanctions on Moscow in the event of an invasion of Ukraine. And in corporate news, Nelson Peltz’s activist hedge fund Trian snaps up a stake in Unilever on the back of shareholder frustration with CEO Alan Jope’s failed recent bid for GSK’s healthcare unit.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Streaming giant Netflix sees shares plummet in extended trade, putting it on track for its worst day since 2012 as increased competition hits subscriber growth. The Nasdaq descends deep into correction territory as rate hike fears spook investors, but U.S. Treasury Secretary Janet Yellen tells CNBC inflation should fall back down towards 2 per cent later this year. Cryptocurrencies also take a hit, sinking to multi-month lows, with Bitcoin breaking below $40k. And U.S. Secretary of State Antony Blinken is set to meet his Russian counterpart Sergei Lavrov in Geneva, while Russia’s Ambassador to the EU tells CNBC in an exclusive interview that he hopes Washington will follow through on its security guarantees.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Higher treasury yields continue to pile pressure onto U.S. equities with tech stocks suffering in particular. The Nasdaq enters correction territory but BofA CEO Bran Moynihan tells CNBC the prospect of rate hikes signals that the worst of the pandemic effects on the economy are largely behind us. In a bid to prop up a slowing Chinese economy, the PBOC slashes a key lending rate for the first time in two years, sending Asian markets higher. Meanwhile, UK Prime Minister Boris Johnson has once again faced calls for his resignation over Covid rule-breaking allegations as well as a defection from his own party to Labour. In geo-political news, President Biden warns Russia of disastrous consequences should Moscow decide to invade Ukraine. This as, the EU foreign service head tells CNBC exclusively that the bloc should brace for conflict.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Ten-year Treasury yields hit a two-year high sparking a Wall Street sell-off as investors brace themselves for a possible rate hike at next week’s Fed meeting. However, BlackRock CEO Larry Fink tells CNBC he remains sanguine about any tightening at this point. We have more bank earnings from Wall St. with Goldman Sachs plunges almost 7 per cent in yesterday’s session as its Q4 costs come in higher than expected. Microsoft seals the biggest tech deal of all time, snapping up gaming company Activision Blizzard in a deal worth $67bn. And, U.S. Secretary of State Antony Blinken arrives in Kiev in a bid to quell tensions with Moscow. CNBC hears from Ukraine’s ambassador to the EU who says the bloc’s dependency on Russian gas is central to resolving the stand-off.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Asian equities slump and U.S. futures fall, while yields climb, ahead of a big week for the Fed. In Japan, the BoJ lifts inflation forecasts and says risks are generally balanced. Newly appointed German foreign minister Annalena Baerbock arrives in Moscow following talks with her Ukrainian counterpart in Kyiv, as tensions with Russia show no signs of abating. And in Brussels, euro zone finance ministers meet in an attempt to agree a new debt reduction plan for the bloc. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

From politics to sports to banking giants, Covid rule breaches threaten the positions of the powerful. Credit Suisse chairman António Horta-Osório is forced to resign after breaching restrictions in Switzerland on several occasions. Former UBS Group COO Axel Lehmann has been named his successor. In M&A news, Unilever’s £50bn offer for GSK’s consumer unit is slapped down. However, GSK has assured investors it remains committed to spinning off the business. Meanwhile, Chinese GDP grew by 8 per cent in 2021 but expansion has decelerated to an 18-month low. The PBOC has cut a key loan rate in an attempt to aid economic activity. And UK Prime Minister Boris Johnson faces more pressure ahead of the ‘Partygate’ investigation report. Opposition Labour leader Keir Starmer says the lockdown rule-breaking at No. 10 and other ministries means Johnson has “lost the moral authority to lead” and needs to resign.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Tech stocks weigh on U.S. and Asian markets with the Nasdaq breaking a three-day winning streak and the Nikkei slumping. Producer price inflation Stateside hits its highest level in 12 years, while several Fed members take a more hawkish line on rate hikes. Chinese imports come in far lower than expected but exports are propped up by global demand. In tech news, German software giant SAP issues strong guidance for 2022 and predicts a better-than-expected Q4.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 inflation hits a four-decade high but President Biden says prices have peaked. U.S. futures are down ahead of an earnings season where S&P 500 companies are expected to deliver Q4 growth upwards of 20 per cent. U.K. Prime Minister Boris Johnson faces a chorus of calls to resign after admitting he did attend a Downing Street drinks party in May 2020 while the country was subject to strict lockdown measures. And NATO and Russia remain locked in a standoff over Ukraine, as both sides refuse to give ground on key demands despite hours of talks in Brussels.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. Fed chair Jerome Powell testifies in front of the Senate Banking Committee and warns law makers that inflation remains a severe threat. However, Powell insisted that the U.S. economy is now robust enough not to require additional pandemic-level monetary stimulus. Powell’s main task would be to keep inflation in check, as U.S. markets look ahead to a CPI print today which could hit a high not seen for 40 years. Tech stocks rally in Wall Street and Hong Kong. Chinese factory and consumer price growth has softened after Beijing moves to curb rising raw material costs. In the UK, Prime Minister Boris Johnson’s tenure looks increasingly fragile following fresh Covid rule-breaking allegations by his government. And we take you to St. Moritz, Switzerland with the latest from the Crypto Finance Conference.   See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Nasdaq dips in to correction territory but wins back losses of more than 2 per cent. We hear exclusively from Goldman Sachs’s David Kostin who says the tech disconnect is the largest issue for clients. U.S. Federal Reserve chairman Jerome Powell is set to testify in the Senate where he will address the effect inflation is having on the American economy while JPMorgan CEO Jamie Dimon predicts the U.S. is headed for its best growth phase in decades, even in the face of rate hikes. Investment fund Cerberus sells off more than $500m of Deutsche Bank and Commerzbank stocks. And in Covid news, Pfizer CEO Albert Bourla announces that the pharma giant will have a new Omicron vaccine this winter.   See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. Secretary of State Antony Blinken says high-stakes talks between Washington and Moscow are unlikely to progress over Ukraine, as Russian troops gather on the border. In China, 14 million people are being tested for Covid over 2 days in the north-eastern port city of Tianjin – less than an hour from the capital. December payrolls in the U.S. come in weaker than expected but unemployment falls. And in banking news, Italy’s BPER reportedly improves its offer for Carige in a bid to fend off rival interest from French lender Credit Agricole.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. treasury yields continue to surge with investors bracing for an accelerated winding down of monetary support, while billionaire investor Ray Dalio tells CNBC the Fed is in a ‘delicate’ position. The WHO warns of an Omicron tsunami as global health systems struggle, but it says vaccine equity could end the pandemic this year. Oil prices pop as the violence continues in Kazakhstan’s largest city, Almaty, with scores killed and up to 3,000 detained. Russian troops have been called in to restore order. And in the U.S., President Biden marks the one-year anniversary of the deadly storming of Capitol Hill.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. tech majors slide and the 10-year yield touches 1.7% after the Fed minutes hint at efforts to shrink the balance sheet together with rate hikes. At least seven EU countries report record daily Covid cases – while the UK eases testing rules. And French supermarket giant Auchan eyes a second bid for rival Carrefour after initial takeover talks were suspended in October.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Dow hits a new record high as investor confidence picks up, but tech stocks slump on a rotation out of the sector. Opec nations hold their nerve against the Omicron outbreak and agree to boost output for the seventh consecutive month. China Mobile lists in Shanghai in the country’s biggest domestic IPO in a decade. Meanwhile in Europe, Covid cases continue to surge with new daily highs recorded in France and the UK.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Dow and the S&P 500 begin 2022 with fresh records, as Apple becomes the first U.S. company to achieve a $3 tn market cap. Troubled Chinese property giant Evergrande’s shares resume trading after authorities order it to demolish 39 developments on the tropical island of Hainan. Chinese manufacturing beats expectations in December as input prices fall to their lowest level since May 2020. And Daimler unveils an EV concept car with a 1000km range, but CTO Markus Schäfer tells CNBC exclusively that the chip crunch is likely to continue into the new year. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. futures begin 2022 pointing high but Asian equities are softer with the Hang Seng under pressure, as Evergrande is halted, pending the release of inside information. Turkish inflation rockets, with CPI up 13% on the month. France becomes the sixth country in the world to record 10mn covid cases, as it eases restrictions. Tesla beats its own delivery and production records in Q4, delivering almost 1mn units in 2021. And U.S. President Joe Biden reassures his Ukrainian counterpart that America would respond decisively should Moscow invade.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Chinese manufacturing activity beats expectations for December, in spite of continuing Covid restrictions. U.S. markets are set to end 2021 strongly with Wall Street eyeing its best three-year run since the late 1990s. The WHO warns of a ‘tsunami’ of global Covid cases as the Omicron variant peaks in at least 20 countries. And Presidents Biden and Putin hold talks about de-escalating tensions over Ukraine but find no resolution as they trade warnings and threats.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 hits a 70th record high this year, with U.S. markets set to finish a volatile year on a high. NIAID director Anthony Fauci tells CNBC that the Omicron variant surge is likely to peak in the U.S. by the end of January. In China, troubled property giant Evergrande reportedly misses another bond payment, causing shares to slide. In IPO news, Chinese AI firm Sensetime sees a stellar Hong Kong debut. And President Biden accepts President Putin’s request for talks later this afternoon, as tensions over the Ukrainian border continue to simmer.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

It’s a mixed scene in U.S. markets as the S&P 500 dips from a new intra-day record while the Dow posts its fifth straight positive session. New studies suggest that Omicron will displace the Delta variant of Covid as global cases top one million for a second day. In Hong Kong, police raid the offices of Stand News – one of the territory’s few remaining pro-democracy newspapers – for alleged “seditious publication”. Washington and Moscow are scheduled to hold talks early in the new year as Russian troops continue to mass on the Ukrainian border.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 closes at a record high as the rebound continues from the Omicron-induced sell-off, ahead of what’s expected to be thin trade in a reduced festive session here in Europe. A major U.K. study indicates Omicron is up to 70% less likely to send patients to hospital – but the Health Secretary says it’s too soon to know the next steps, as COVID cases hit record levels. Russia and the U.S. will hold talks over Ukraine within weeks, amid what Moscow claims are existential threats from NATO. And, Peter Parker saves the day for Hollywood, as Spiderman: No Way Home crosses $800 million at the global box office – while Dwayne ‘The Rock’ Johnson tells CNBC the pandemic has changed things.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. equities rally for a second day, propelling Asian stocks higher as investors continue to look past COVID risks and count down to Christmas. In the U.K., COVID cases top 100,000 for the first time – as Wales and Northern Ireland set out new rules to tackle the Omicron-infused surge. The World Health Organisation warns “no country can boost its way out of the pandemic,” with Director-General Tedros Ghebreyesus calling for greater vaccine equity. And Tesla shares rally as Elon Musk says he has almost completed his pledge to sell 10% of his stake in the EV-maker.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, breaking a three-day losing streak as investors set aside Omicron concerns – with airlines and energy companies leading the charge. It’s another volatile 24 hours for Turkey’s lira, but the currency holds on to gains as the President outlines plans to safeguard against price swings. In the U.S., President Joe Biden unveils his strategy for tackling the Omicron variant, and calls on Americans to get vaccinated this Christmas. And, Sweden, Portugal and Germany bring back some restrictions amid the Omicron surge, as German Chancellor Olaf Scholz warns it cannot be ignored.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Its covid across the board today as the UK Prime Minister, Boris Johnson, holds off from tightening covid restrictions despite mounting pressure. There were more than 90,000 confirmed cases of covid in the UK on Monday with cases doubling every week. German federal and state leaders will meet today to discuss tougher covid restrictions as hospitals bear the strain of rising cases and emergency staff illness. Meanwhile, President Biden is set to unveil steps to combat an increase in covid cases in the U.S today as new data shows omicron now accounts for around 73% of new cases across the country.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Netherlands becomes the first country in Europe to impose strict lockdown measures as the omicron variant spreads across the world. In London, the city mayor, Sadiq Khan, declares a major incident due to rising cases in the capital while the health secretary calls for more caution over Christmas. This comes as the UK sees around 22,000 new cases over the weekend. Meanwhile, the resignation of Lord Frost delivers another blow to the UK Prime Minister, Boris Johnson. Germany follows France and bans travelers from the UK while anti-lock down protests break out across the country.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Sterling rallies as the Bank of England hikes rates for the first time in 3 years, raising its benchmark rate to 0.25% in anticipation of inflation hitting 6% by April. Meanwhile, the ECB is set to exit its Pandemic Emergency Purchase Programme in March in order to stave off surging levels of inflation. The ECB also plans to raise its Asset Purchasing Programme from $20 billion to $40 billion in the second quarter, and to $30 billion in the third. As Hong Kong votes for its next legislative council this weekend, we speak to CNBC’s Emily Tan about the first Legco poll since China’s overhauling of the electoral process in the city earlier this year.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 slows the pace of its monthly bond purchases and signals three rate hikes next year. The FED says it will taper its bond purchasing programme by 30 billion dollars per month, putting it on pace to end its pandemic status by March. It intends to raise rates as many as 8 times by 2024 while keeping its fund rate at record lows. Meanwhile, the Bank of England’s Monetary Policy Committee will meet today to decide whether to increase interest rates and tighten conditions. This comes amid a recent inflation surge and deepening fears over the Omicron variant. We also look toward the ECB’s delivery of its latest policy decision amid challenges of soaring inflation and rising covid rates.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Producer prices in the U.S see the sharpest rise on record and has unsettled Wall Street before today’s FED decision. The U.S hikes the government debt ceiling to $31.4 trillion thus avoiding an historic default. Meanwhile, American investors will be banned from investing in another eight Chinese companies, including the world’s largest manufacturer of commercial drones, DJI.Chinese industrial output data beats expectations but Covid fears and restrictions mean sales still missed overall forecasts, slowing growth in October despite multiple headwinds from the PBOC. And, the IMF calls on the Bank of England to take action to curb inflation in its policy meeting tomorrow. This comes as the IMF anticipates inflation in Britain returning to its 2% target by 2024See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

As China records its first case of the omicron Covid variant, Beijing comes under pressure to reconsider its zero-tolerance approach to covid transmission. Tech and travel stocks lead the losses on Wall Street while omicron unnerves investors in Asian equities. The UK health secretary, Sajid Javid says the omicron variant could account for 44% of cases in London and is expected to be the dominant strain later today. Meanwhile, The Federal Reserve’s Federal Open Market Committee is expected to accelerate its bond purchasing programme today which could mean an earlier hike in interest rates in 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.

The UK announces the rollout of third doses of the Covid vaccine to all over 18s by the end of the month as Prime Minister Boris Johnson warns of a ‘tidal wave’ of the omicron Covid variant around the corner. In the US, scores of people are thought to have been killed as a cluster of tornadoes rampages through 6 states. Meanwhile, inflation in the U.S reaches its highest level since 1982. And, a court in Madrid orders Santander to pay the boss of Unicredit 68 million dollars for withdrawing its offer of CEO in 2018.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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.

Wall Street falls sharply lower, dragged down by U.S. tech stocks and rising bond yields. Financials and energy shares are also lower as investors eye the Fed’s next tapering move. Facebook shares tumble following a six-hour outage of its platforms while a whistleblower accuses the social media giant of “a betrayal of democracy”. U.S. oil prices surge to a seven-year high as Opec+ nations refuse to increase production. Volvo Cars have announced plans they will be seeking a Swedish listing next year with a potential value of $30bn. As Eurogroup finance ministers meet in Luxembourg, France and Spain have partnered to demand reform in the energy sector amid soaring gas prices 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.

Evergrande shares are suspended in Hong Kong markets following Chinese media reports that Hopson Development is set to swoop in for a $5.1bn stake of its property unit. In other M&A news, U.S. private equity company CD&R has snapped up UK supermarket chain Morrisons for close to $10bn and is reportedly looking to install former Tesco boss Sir Terry Leahy as chairman. CNBC learns that U.S. trade representative Katherine Tai will announce that Beijing is not complying with the Trump-era Phase 1 deal. And more from the UK’s driver shortage as the military is set to help ease the fuel delivery crisis but Prime Minister Boris Johnson says he will not soften immigration policy to resolve the problem.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Wall Street ends its worst month since the start of the pandemic. September saw Covid-related losses, supply chain issues and inflation woes all weighing heavily on U.S. indices. In Washington a shutdown was averted with President Biden signing off on a late-night bill to fund Congress. However, Democrats have bowed to partisan pressure and delayed the vote on the trillion-dollar infrastructure programme. And, BMW raises its full-year guidance in spite of the ongoing chip crisis. The German motor giant’s bottom line has been boosted by higher car prices. Former SPD leader Sigmar Gabriel tells CNBC he welcomes a new pro-European coalition in Germany. And in China, authorities have ordered all state-backed firms to keep energy supplies available “at all costs” as gas prices across the EU and UK soar to record highs.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Wall Street recovers but the S&P 500 and the Nasdaq are set to report their worst month for a year. We hear from the Delivering Alpha investor summit where TPG’s Jim Coulter predicts a volatile October. All eyes are on the U.S. Senate where Republicans are expected to continue their opposition to President Biden’s spending plans as well as a bill to suspend the debt ceiling after the measure was voted through the U.S. House of Representatives. The stand-off could set the scene for a potential government shutdown following Friday’s deadline. Chinese factory activity has shrunk for the first time since February 2020, with manufacturers feeling the pinch from high commodity prices. Chinese property developer Evergrande misses another bond coupon payment deadline, causing shares to drive lower once again. And gas prices contract by up to 7 per cent – the sharpest decline since January – but 3 more UK energy providers succumb to higher wholesale prices.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Nasdaq suffers its worst session since March with tech titans such as Alphabet, Facebook and Microsoft all tumbling. There is talk of a looming broader correction in the sector. Asian markets see more selling as U.S. yields remain at 3-month highs with pandemic support set to be wound down. The Federal Reserve Chairman Jerome Powell warns Congress that inflationary pressures could be around for longer than first thought due to worsening supply chain pressures. U.S. Treasury Secretary Janet Yellen warns against a debt ceiling crisis after the Senate blocks a bill to extend the limit, saying the U.S. runs the risk of a “self-inflicted wound” on its economy. And troubled property developer Evergrande offloads a $1.5bn minority stake in a Chinese bank to a state-owned firm.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The UK fuel shortage crisis continues with supplies to emergency and essential services believed to be under threat. Officials, however, claim that panic-buying is now receding. Meanwhile, Chinese factory profits decline for the sixth consecutive month as rising commodity prices and supply chain issues bite. Also in China, Evergrande shares rise after the PBOC promised to protect housing market consumers. The property giant faces another interest payment tomorrow. In the U.S., Dallas Fed President Robert Kaplan and Boston Fed President Eric Rosengren resign as fallout from the central bank trading scandal increases. And coalition talks are under way in Germany. The FDP and the Greens are set to hold discussions, while the CDU’s Armin Laschet still hopes to become Chancellor despite coming second to the SPD’s Olaf Scholz.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Germany’s preliminary official election results are in but there is still no clear winner in the federal elections of Europe’s biggest economy. The CDU/CSU have suffered their worst showing since 1949, but the party candidate Armin Laschet believes he still has a chance of victory. The FDP and Greens will be kingmakers in the result, potentially paving the way for the country’s first 3-party coalition. Evergrande’s EV arm falters in Hong Kong trading as it issues a call for cash and postpones plans to go public. Another bond payment for the Chinese property giant looms on Wednesday. And in the U.K., scenes of long queues and panic-buying at petrol stations dominate the scene, as an HGV driver shortage prompts plans to involve the military to help with deliveries. BP has said that up to 30 per cent of its stations are now empty.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 Berlin and London for a special edition of Squawk Box ahead of Sunday’s German federal elections. Polls have narrowed with the SPD’s lead over the CDU now just down to a couple of points. During the last TV debate before the vote, candidates sparred over taxation, debt and foreign policy in the face of an ascendant China. We also hear exclusively from ECB President Christine Lagarde who believes that Angela Merkel’s 16-year tenure has left the country in a much stronger position on the world stage. Wall Street is in the green with the Dow and S&P 500 posting their best session since July. However, the Evergrande saga rolls on, leaving global investors in limbo as the troubled property giant enters a 30-day grace period to pay an offshore bond coupon. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

November seems likely for a potential Fed tapering announcement. Chairman Jerome Powell looks to possibly end support by the summer of 2022, with a rate hike later that year. The Dow and S&P react, closing in the green and ending a four-day losing streak, with bank stocks cheering the news. In China, Evergrande shares jump after the chairman pledges to prioritise shareholders, but doubts remain about an $83.5m interest rate payment on an offshore bond due today. And in Germany political campaigns enter the final stretch ahead of this Sunday’s election.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Chinese property development giant Evergrande says it is set to make an interest payment on its bonds as scheduled tomorrow. However, former PBOC advisor Li Daokui says that the company’s debt problems are far greater and the firm could well be dissolved. Mainland Chinese markets attempt to claw back losses on the news after an extended weekend. In the U.S., the House of Representatives has voted to prevent a government shutdown and suspend the debt ceiling. The GOP says it will block the bill in the Senate. JP Morgan CEO Jamie Dimon tells CNBC that market pressures could prompt the Federal Reserve to act more urgently and vigorously in tapering. 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 suffer a torrid session, with the S&P 500 posting its worst day since May while the Dow falls by more than 600 points. In Japan, the Nikkei is also down. Standard & Poor’s warns Chinese property developer Evergrande will potentially default without government support. Beijing is seen as unlikely to step in with aid, unless the risk of contagion rises. And European countries are holding emergency energy talks to see off creeping gas prices, but UK Business Secretary Kwasi Kwarteng says supply fears are overblown. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

European gas prices soar, as the UK’s business and energy minister prepares to hold emergency talks with suppliers, but COP26 President Alok Sharma has played down concerns. In Germany, the SPD’s Olaf Scholz has emerged the clear winner in the latest TV debate ahead of this weekend’s general election. Chinese property developer Evergrande faces twin bond payment deadlines this week, prompting its share price to plunge on the Hang Seng. 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 closes lower, but pares losses after retail sales come in better than expected, despite Delta variant concerns. Meanwhile President Biden lays out plans to raise taxes on the highest earners and big business, as he looks to fund his infrastructure package and social policies. China applies to join the new Pacific Trade Pact, in a bid to boost its regional role, just a day after the formation of a U.S.-led Asia-Pacific security alliance. Polls open across Russia - as the country votes in three days of covid-impacted federal elections. And Maersk hikes guidance again, as the shipping giant says it expects freight tightness to run into next year -- while Citroen CEO Vincent Cobee tells CNBC the auto industry needs greater control over supply chains.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

US President Joe Biden announces a new Indo-Pacific security partnership with the UK and Australia - riling China. The French government meanwhile, voices its disappointment to have been excluded from the pact. In Germany, the front-runner to succeed Angela Merkel as Germany's next Chancellor, Olaf Scholz is summoned to appear before lawmakers over a money laundering scandal, just days before the country heads to the polls. And billionaire investor Ray Dalio makes waves in the crypto space, telling CNBC that regulators will crush bitcoin if it poses a threat to central banks. We take a look at global markets where Hong Kong is under heavy pressure once again, while Wall Street bounces back, and the S&P posts its best day in two weeks.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

China's August retail sales miss the mark, growing at 2 and half percent, nearly one-third the expected level, as the country deals with its worst Covid outbreak in over 18 months. In the US, price pressures appear to ease, as CPI jumps less than expected in August - but still hovers near 13-year highs. And Apple unveils its latest range of iPhones, as the world's most valuable company seeks to move past privacy and anti-trust concerns. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Dow and the S&P log their first positive day in six - ahead of today's CPI report, expected to show inflation running hot, potentially putting the Fed in a tough spot on its tapering timetable. U.S. House Democrats return from their August recess with a plan to roll-back Trump era corporate tax cuts, as they look to finance the 3-and-a-half-trillion-dollar infrastructure bill. And in Corporate news, German real estate company Vonovia drops a key condition in its bid to take over rival Deutsche Wohnen - potentially removing the last hurdle to the deal.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Asia markets see red on fresh regulatory concerns in China - as Beijing reportedly seeks to break up Ant Group's online payments platform Alipay, and amid calls for consolidation in the country's EV sector. In Europe, the SPD's Olaf Sholz pulls ahead in the polls, less than two weeks before the German election - hitting back at accusations he was culpable in a string of high-profile financial scandals. In France, the far-right's Marine Le Pen, and Paris Socialist Mayor Anne Hidalgo, launch their campaigns to oust the President Macron next year.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The leaders of the world’s two biggest super powers spoke for the first time in 7 months. U.S. President Joe Biden and Chinese President Xi Jinping agreed to avoid conflict while managing competition in a 90-minute call that the White House described as “familiar and candid”. Meanwhile, Wall Street extends losses despite an improving employment picture, while Asian equities bounce back as Chinese tech stocks recover from more gaming regulation. Beijing said approvals for new video games would only be slowed, dispelling rumors of a freeze on all new approvals. Meanwhile in Europe, the ECB announces plans to trim emergency pandemic support - but President Lagarde insists it's not a taper. And prosecutors raid Germany's finance ministry just three weeks ahead of elections in a move that could damage front-runner Olaf Scholz. Speaking ahead of the news, we hear from SPD leader Martin Schulz who tells CNBC the finance minister would bring positive changes to the chancellery.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Investors await one of the most contentious ECB meetings in months, as the central bank is expected to map out how it will pare back its emergency bond purchase programme. The Nasdaq retreats from record highs, joining the S&P and Dow in the red, sending Asian stocks lower, as the Fed's monthly Beige book reports a downturn in the economic outlook. China's factory gate prices surge to a 13-year high - coming in hotter than expected on the back of elevated commodity prices. And we are live from a dairy farm outside the Swiss city of Lausanne - one of Nestle's key suppliers - ahead of the release of the food giant's 'Regeneration Promise'.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.