Squawk Box Europe Express

Oil markets front and centre. Crude prices steady after a big surge ahead of today's OPEC meeting amid the prospect of deeper production cuts. Iraq's oil minister tells CNBC extending the current deal through June will not be enough. Investors eagerly await the pricing of Saudi Aramco's IPO, with the oil giant's bookrunners reportedly recommending a price at the top end of the range, making it the world's biggest public offering. In tech, Huawei mounts a legal challenge against the U.S. FCC, as it aims to overturn a ruling that bans government funds from being used to purchase the Chinese telecom giant's equipment. Another luxury deal in the works for Gucci owner Kering is reportedly in exploratory talks with Moncler about an agreement to buy the Italian jacket maker. And finally caught on tape, President Trump skips the end of the Nato meeting and calls out Canadian Prime Minister Justin Trudeau, after footage appears to show world leaders joking about the U.S. Commander in Chief.

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Stocks across Asia join a global sell-off after the Dow drops another 280 points, as President Trump says a trade deal with China may only come after the U.S. election. In the U.K., the Queen rolls out the red carpet for world leaders to mark the 70th anniversary of NATO, with divisions among allies front and centre ahead of today's meeting. President Trump and his French counterpart Emmanuel Macron suggest they will find a way to avoid punitive measures on the EU, amid fears Washington will impose tariffs on French goods in retaliation for a digital tax.

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Trump revives trade war fears. The Dow drops more than 250 points while the S&P 500 has its worst day in two months as U.S. President Donald Trump surprises markets with tariffs on steel and aluminium imports from Brazil and Argentina. President Trump touches down in the U.K. for the NATO leaders meeting amid growing divisions in the alliance. He is due to meet with France's Emmanuel Macron, after the U.S. threatens one-hundred percent levies on up to $2.4 bn of French goods in response to France's digital-services tax. Washington also says it may raise duties on a variety of European products after the World Trade Organisation rejects claims by the EU that it no longer provides subsidies to Airbus.

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Shoppers flock online helping Black Friday sales hit a record $7.4 bn in the second largest U.S. internet shopping day ever, with Adobe predicting an even bigger Cyber Monday. China's factory activity grows at its fastest pace in nearly three years in November sending Asian stocks higher, while state media says Beijing wants all existing tariffs scrapped as part of a phase-one trade deal. And a surprise in Berlin! The win of a new SPD left-wing leadership team puts Chancellor Angela Merkel's grand coalition on shaky ground.

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A peaceful night in Hong Kong as thousands of protesters stage a ‘Thanksgiving Rally’ to thank the U.S. for its support, but the Hang Seng slumps as the city prepares for fresh weekend unrest. Trade deal doubts continue with Chinese stocks set to close out the month in correction territory, but major U.S. indices are on track to log their best month since June. Fitch warns the euro zone is at risk of ‘Japanification’, while British Prime Minister Boris Johnson snubs the UK's first ever climate-focused election debate. Plus, shoppers start to splash out on Black Friday deals, after balloons fly at the Macy's Thanksgiving Day Parade.

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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.

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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.

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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.

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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.

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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.

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