Squawk Box Europe Express

The Hong Kong issue leaves a sour taste on Thanksgiving Day. China summons the U.S. ambassador after President Trump signs legislation backing pro-democracy protesters in Hong Kong. The bill is set to test relations between Washington and Beijing as both sides race to complete a phase one trade deal, and weighs on markets in Asia. Deere & Co blames the tensions for its latest profit warning, sending shares in the world's largest farm equipment maker sharply lower. A key YouGov poll puts Boris Johnson's Conservatives on course for a majority in the upcoming election, while Labour accuses the government of putting the National Health Service on the table in US trade talks.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

China's industrial profits drop the most in 8 months as the U.S.-China trade war takes its toll, while President Donald Trump says a phase one deal is near. Strong results from Best Buy help drive U.S. stocks to fresh records, while discount retailer Dollar Tree blames tariffs for a cut to its outlook. And in an exclusive interview with CNBC, Dallas Fed President Robert Kaplan says if the U.S. wants more than two percent growth, the economy needs more than just monetary policy.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

A strong start for Alibaba in its Hong Kong debut. Shares surge in the first day of trade, delivering a vote of business confidence to the protest-stricken Chinese territory. We’re live at the Hong Kong stock exchange with all of the details. U.S. stocks hit fresh record highs as investors hang on to any signs of progress towards a U.S. China trade deal, while top officials discuss an agreement over the phone. Fed Chair Jerome Powell gives another sign rates are set to stay on hold, saying the central bank is strongly committed to its 2 percent inflation target. Plus, Londoners may be looking for a ride as the city revoke’s Uber’s license over safety concerns, with the ride-hailing giant saying it will 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.

Merger Monday! Louis Vuitton owner LVMH gets the little blue box, agreeing a deal to buy Tiffany and Co for $16.3 bn dollars. Meanwhile, Novartis inks a $9.7 bn deal to acquire U.S. biotech firm The Medicines Company in an agreement that will expand the Swiss drugmaker's portfolio of heart treatments. In political news, Hong Kong anti-government candidates claim victory in local elections, as voters turn out in record numbers to show strong support for the city's protest movement. U.K. Prime Minister Boris Johnson vows to get Brexit done, and promises no income tax increases and 50,000 more nurses in the new Conservative Party manifesto.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Dow logs its longest losing streak since August, while stocks across Asia sit in mixed territory amid U.S.-China trade deal doubts. Fighting words from Chinese President Xi Jinping, who says he won't "flinch" from a trade war fight, adding that a 'phase one' deal must be based on respect and equality.The Hong Kong campus siege drags into a sixth day, as the Chinese-controlled city prepares to vote in local elections amid tight security. ECB President Christine Lagarde prepares to give her first high profile speech at the European Banking Conference amid concerns over record low rates. European consumer goods giants Unilever and Henkel are reportedly in talks with U.S. cosmetics maker Coty for its 7 billion dollar beauty portfolio.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Deal delay? Asian equities sink and the S&P posts its worst day in a month following reports that a ‘phase one’ trade agreement between Washington and Beijing may not be agreed before Christmas. However, during a tour of an Apple factory in Texas, President Trump hints that the tech giant could receive an exemption on tariffs for Chinese imports. We are live in Paris at the Women’s Forum Global Meeting where French economy minister Bruno Le Maire tells Karen exclusively that Europe cannot prosper and grow amid the trade war between the U.S. and China but he offers a glimmer of hope, saying that a limited resolution could be imminent. And in M&A news, LVMH has reportedly increased its bid for Tiffany’s with the classic jeweller granting the French luxury group access to its books.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 Donald Trump threatens to increase tariffs on China sending Asian stocks lower if there is no 'phase one' agreement on a trade deal. The U.S. Senate passes a bill in support of Hong Kong protesters, eliciting swift criticism from China. Beijing calls it a blatant interference in internal affairs and vows to retaliate, also weighing on market sentiment. U.S. retail stocks take it on the chin amid weak results and forecasts from Kohl's and Home Depot, ahead of the Christmas holiday shopping season. And we are live in Moscow where we speak to VTB chairman Andrey Kostin about his view on the global slowdown and how much political tensions are weighing on the Russian economy.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Under siege… Hong Kong tensions run high as anti-government protestors remain barricaded inside the city’s Polytechnic University for the past three days. Martin Soong reports from the site as the territory’s CEO Carrie Lam urges a peaceful solution to the crisis. U.S. stocks rise to fresh record highs but are tempered, as CNBC learns that Chinese officials are pessimistic about the prospect of an early trade agreement between Washington and Beijing. We speak to top investors, including Pimco’s vice chairman, about hopes for a deal in Nansha at CNBC’s East Tech West summit. We also hear from the VP of Chinese ride-hailing group and Uber rival Didi Chuxing, who talks about the prospect of expanding the business beyond China in an on-stage fireside. And we break results from Swiss lender Julius Baer, which lowers its full-year targets, saying net new money flows from clients will be lower than previously anticipated.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://ar

A positive start to the week in Asia. Equities move higher as China cuts a key liquidity rate for the first time in more than four years and touts progress in the U.S. trade talks. Washington reportedly prepares to grant Huawei a license extension, but the chairman, Liang Hua, taking the stage at CNBC’s East Tech West conference in Nansha, says any decision will have a limited impact. Elsewhere, violent clashes grip Hong Kong as police and protesters engage in a fierce battle at a university campus, while the high court rules that a ban on face masks is unconstitutional. In corporate news, Saudi Aramco aims for a $1.7tn valuation in its highly anticipated IPO, short of the $2tn goal set by the Kingdom's crown prince. We are also live at the Dubai Airshow which so far has failed to attract the big spenders. The CCO of Airbus tells this channel that Boeing’s troubles with its 737 Max model don't benefit anyone in the aerospace industry.See Privacy Policy at https://art19.com/privacy and California Pri

On trade tenterhooks… Asian equities are mixed, looking for clues on trade negotiations, as White House economic adviser Larry Kudlow strikes a positive tone and China’s ambassador to the U.K. tells CNBC exclusively that Beijing wants to get a deal done. Speaking before the House Finance Committee, Federal Reserve chairman Jerome Powell says the U.S. economy is stellar and there is no reason it shouldn’t continue to grow, despite risks in manufacturing. The fallout from the first public impeachment inquiry hearings continues, with House Speaker Nancy Pelosi saying that President Trump’s behavior towards Ukraine is tantamount to bribery - a charge he vehemently denies. And in corporate news, Chinese e-commerce giant Alibaba is upbeat about the future in spite of the ongoing violence in Hong Kong, where it is launching its retail campaign for a $13bn listing.    See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Stalemate snag…trade talks between the U.S. and China hit an impasse with Beijing missing industrial output and retail sales expectations in October. In the U.S., Federal Reserve chairman Jerome Powell dismisses President Trump’s call for negative rates, telling Congress that the move would be ‘inappropriate’ for the robust American economy. Media giant Disney’s shares soar, contributing to three-quarters of the Dow’s record gains after its new streaming service Disney+ garners 10 million subscribers on the day of its launch. Not to be outdone, the S&P 500 posts its 20th record day of trade in 2019, one of its best calendar years in decades.   See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

No trade transparency! U.S. President Donald Trump leaves markets on edge as he threatens to ‘substantially’ raise tariffs on China if a deal can’t be reached, but suggests that an agreement is imminent. In a speech at the Economic Club of New York, Trump also criticises Federal Reserve chairman Jerome Powell for not following other central banks into negative rates, ahead of Powell’s testimony to Congress. The ongoing violence in Hong Kong also weighs on markets in Asia. Geoff joins the show from Singapore in a special edition of Global Squawk Box, while Steve and Hadley discuss energy market uncertainty in Abu Dhabi, as the IEA warns that global oil demand will contract from 2025 as the transition to alternative sources gathers pace.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Lift-off… Boeing flies the Dow Jones to a new record high. The planemaker posts its best day in five months on news that it will resume using its troubled 737 Max planes as soon as January. The unrest continues in Hong Kong with more violent scenes overnight. Protestors have converged on the financial district, bringing it to a standstill this morning. But trade news lifts sentiment, as multiple media reports suggest President Trump will delay a decision on European auto tariffs for another six months. Logistics and mail giant Deutsche Post DHL kicks off another busy earnings day, tripling its operating profit in the third quarter. It also forecasts a strong holiday season amid an e-commerce boom and growth in its freight division. We are also live at the ADIPEC summit in Abu Dhabi where the CEO of French oil conglomerate Total, Patrick Pouyanné, tells this channel that there is a hysteria attached to the issue of energy transition and climate change.  See Privacy Policy at https://art19.com/privacy

Retail records…Chinese online giant Alibaba is set to smash last year’s Singles’ Day sales, already earning $23bn within the first nine hours of the event. We have the latest from Hangzhou. In energy news, Saudi Aramco has announced that it will sell 0.5 per cent of its shares to retail investors in its IPO but refuses to give a figure for the size of the eagerly anticipated listing, potentially the world’s largest. We hear more on the prospectus from the ADIPEC conference in Abu Dhabi. And we are also live in Madrid where there is no end in sight to the political deadlock after Spain’s fourth election in as many 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. stocks hit fresh record highs as investors ditch bonds amid renewed trade deal hopes, but uncertainty over progress on a U.S.-China agreement sends Asian shares down from a six month peak. In China, there’s a sigh of relief from the tariff-hit economy as October imports/exports fall less than expected. But trade jitters overshadow a meeting of European finance ministers in Brussels, despite Economic Commissioner Pierre Moscovici saying disputes among ‘friends’ can be resolved. In corporate news, Disney shares soar after the media giant beats Q4 expectations. CEO Bob Iger speaks to CNBC exclusively about the upcoming deals for Disney+ ahead of its launch next week.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The global rally cools as CNBC learns the signing of the first phase of the trade deal between the U.S. and China may now be pushed back to December, with the terms and location still to be decided. The Bank of England is expected to keep rates on hold as the U.K. December election campaigns lurch into gear. Prime Minister Boris Johnson launches the Conservative offensive amid ministerial resignations and senior party member gaffes. In corporate news, Tiffany is reportedly urging LVMH to increase its bid, saying the $14.5bn offer seriously undervalues the luxury group. We also have a glut of German corporate earnings today, including Siemens, ProSiebenSat.1 and Munich Re.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

New peaks… the Dow and the Nasdaq hit fresh record highs but the rally fades in Asia, with investors waiting on further developments in U.S.-China trade talks. We hear from Société Générale CEO Frédéric Oudéa who remains bullish about the French bank’s outlook despite missing Q3 profit expectations. In Japan, Softbank Group eyes its first quarterly loss in 14 years following its bailout of corporate real estate start-up WeWork last month. CNBC speaks exclusively to JP Morgan CEO Jamie Dimon who says he’s learned the lessons from WeWork’s multi-billion dollar rescue package and its failed IPO. We are also live at Web Summit in Lisbon where Sky CEO Jeremy Darroch tells this channel that ‘subscription fatigue’ is setting in as competition ramps up in the streaming industry.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

High Hopes…The Dow Jones, S&P 500 and the Nasdaq hit a fresh record high off the back of strong economic data and a renewed sense of hope surrounding the U.S.-China trade deal. The optimism is voiced by Chinese President Xi Jinping who calls for closer cooperation to solve global trade disputes at the opening of the China International Import Expo. There are also reports that Washington could be prepared to drop some tariffs to reach an agreement with Beijing. In corporate news, ride-hailing app giant Uber beats Q3 expectations but still reports a quarterly loss of more than $1bn. CEO Dara Khosrowshahi tells this channel he predicts the company will be profitable by 2021. And we are live at the Web Summit in Lisbon where we hear from Verizon executive vice- president Ronan Dunne. He says that the U.S. has what it takes to compete in the 5G arena.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The waiting is over. Saudi Aramco finally launches its highly anticipated IPO, with a domestic listing set for December, but offers little detail about what could become the world’s largest public listing. A stronger-than-expected October U.S. jobs report helps the S&P 500 and the Nasdaq to fresh record highs while Asian stocks rally on hopes that a trade deal between Washington and Beijing is nearing. Hong Kong is left reeling after the 22nd consecutive weekend of pro-democracy protests which have become increasingly violent. Chinese state media demands authorities take a harder line to quell the unrest. In auto news, German chancellor Angela Merkel promises to install 1 million electric car charging points by 2030 while Volkswagen is set to unveil a key new electric model at its newly converted plant in Zwickau.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Nothing scary about Halloween for stocks. Chinese manufacturing data surprises to the upside on the first day of the new month with market sentiment rising across the continent as a result. Over in the U.S., the S&P 500 and Nasdaq both end October by posting near-record highs – their strongest monthly gains since the start of the summer. The anchors break down the month-to-date winners and losers, such as the European auto sector and the dollar index respectively. There’s further unrest in Hong Kong with police clashing with pro-democracy protestors ahead of another weekend of planned mass protests and disruption. As the Halloween Brexit deadline comes and goes, U.S. President Donald Trump offers his opinion on the upcoming U.K. election, predicting a Corbyn government would be disastrous for the country.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.