Squawk Box Europe Express – Détails, épisodes et analyse

Disappointment over Nvidia’s profits slashes the chip titan’s market cap by more than $200bn but the Dow continues in the green to post its 25th record session of the year. U.S. GDP and jobless numbers come in better than expected to ease market jitters and help reinforce hopes of a rate cut next month. U.S. Vice President Kamala Harris gives her first interview since securing the Democratic Party nomination to CNN. And in tech news, Apple and Nvidia are reportedly ready to fund OpenAI which would value the ChatGPT maker at more than $100bn.

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Nvidia shares fall in extended trade despite the A.I. chip giant posting a quarterly beat. Other Wall Street and Asian chip makers have been affected after hours but Nvidia CEO Jensen Huang remains bullish. CNBC learns that artificial intelligence start-up in talks for a new round of funding that could see it valued at more than $100bn. And Warren Buffet’s Berkshire Hathaway becomes the first company outside the tech sector to be valued at $1tn.  

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The S&P 500 manages to claw back all its losses this month thanks to positive U.S. consumer and jobless data which calms investors about the health of the country’s economy. Japan’s Nikkei follows suit to record its best trading week in four years. Alibaba shares are up despite the e-commerce giant missing Q2 expectations while quarterly profits at JD.Com almost double. And the WHO declares a global public health emergency over the Mpox virus – the second time in two years.

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U.S. producer prices come in soft, rising just 0.2 per cent and alleviate some jitters about persistent inflation. The Nasdaq posts a new fresh high with Apple leading the way. The iPhone maker enjoys its best day in nearly a year while Amazon hits a new record high. Shares at Morgan Stanley plunge after reports that the bank’s wealth management arm is under investigation by multiple regulators. German industrial titan ThyssenKrupp warns it may cut steel production by up to 20 per cent with job cuts also looming at a key plant.

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‘Perilous point’: UK Prime Minister Boris Johnson imposes a new round of lockdown restrictions that could last up to 6 months as cases rise. At a virtual UN General Assembly, tensions rise as President Trump slams China for its role in the Covid-19 outbreak. Chinese President Xi Jinping says he is not seeking a cold war, nor a hot one. US indices break their losing streaks with tech stocks once again leading the pack. In retail news, sportswear giant Nike’s shares are set to hit a record high on strong Chinese demand and surging online sales.

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Markets on both sides of the Atlantic plunge on heavy losses for banks and travel stocks. The Dow falls 500 points, the S&P 500 posts its first four-day losing streak since February and the Stoxx 600 sees its worst day since June. In the UK, Prime Minister Boris Johnson is expected to impose a new round of Coronavirus restrictions including a 10pm pub curfew and rolling back returns to work. TikTok negotiations continue with Beijing accusing Washington of bullying behaviour. An op-ed in a government-backed Chinese newspaper blasts the social media app’s deal with Oracle and Wal-mart, raising concerns that Beijing may not support the agreement. And President Trump has vowed to nominate a replacement for the late Supreme Court Judge Ruth Bader Ginsburg this weekend. NBC News has learned that Judge Amy Coney Barrett is the frontrunner.

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Shares in HSBC fall to their lowest level since 1995 in Hong Kong as the bank is implicated alongside Barclays, Deutsche Bank, JPMorgan and others in a series of leaked documents detailing alleged suspicious fund transactions. The White House grants Chinese social media group TikTok one more week to seal a deal with Oracle and Wal-Mart. President Trump has given the deal his nod, but says parent company Bytedance must create a $5bn U.S. education fund. Meanwhile, the U.S. presidential race sees heightened tensions following the death of Supreme Court judge Ruth Bader Ginsburg. Trump has vowed to fill the vacancy by next week.   

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Going public? TikTok considers a U.S. IPO as the Chinese-owned social media group looks to avert sanctions ahead of a weekend deadline set by the Trump administration. In Spain, Bankia and Caixabank join forces to create the country’s largest lender with up to €700bn in assets. Ratings agency S&P puts German finance company Grenke on negative creditwatch as it awaits the result of an accounting investigation. The company’s founder, Wolfgang Grenke has dismissed claims of fraud. And Britain is under pressure from Washington and Brussels over Brexit negotiations.

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The Federal Reserve promises to keep interest rates at record lows until 2023, pushing the S&P 500, the Nasdaq and Asian indices into the red. President Trump says he is concerned about TikTok’s Oracle plan, saying he does not want Chinese tech firm ByteDance to maintain control. He is also seeking payment for the U.S. government’s role in facilitating the deal. And cloud-computing firm Snowflake sees shares surge by more than 100 per cent on its first day of trading on the NYSE.

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The dollar falls on expectations that the Federal Reserve will remain cautious on the outlook for the U.S. recovery. JPMorgan CEO Jamie Dimon tells CNBC that the central bank has so far done enough to prevent a financial crisis. We also hear from Standard Chartered boss Bill Winters who says that continued central bank easing is hurting banks’ profitability. In tech news, Microsoft ups its quarterly dividend by 10 per cent which sends shares higher. This, after TikTok rejected its takeover bid and the White House suggests that a partnership with Oracle is imminent. And Apple CEO Tim Cook unveils a range of new products including a virtual fitness platform, a new iPad and iWatch, as well as a service bundle.   

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