There’s a new record high for the S&P 500 index – its 16th this year. In a testimony to the Senate, U.S. Federal Reserve Chairman Jerome Powell said the central bank was gaining the confidence it needs to cut rates. In Frankfurt, the ECB keeps rates on hold but signals a mid-year cut with President Christine Lagarde calling for more data by June. President Biden lashes out at former President Donald Trump during his third State of the Union address. Biden called on Congress to stand up to Russia’s Vladimir Putin. Humanitarian assistance to Gaza and the southern border crisis were also featured high on the agenda. Danish drug maker Novo Nordisk overtakes Tesla in market cap valuation, unveiling new trial data as well as plans to sell WeGovy in China.

SQUAWK BOX, FRIDAY 8TH MARCH, 2024

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Berkshire Hathaway’s cash pile balloons to $189bn. Warren Buffett uses the company’s AGM in Omaha, Nebraska to signal how it should be run once he passes. Wall Street closes the week in the green following a weaker-than-expected jobs print. This raised hopes that the Federal Reserve may consider cutting interest rates soon. Chinese President Xi Jinping arrives in Paris on the first leg of his European tour. His host, President Emmanuel Macron is to press him on trade relations and Ukraine support. And in the UK, Prime Minister Rishi Sunak admits to the challenges facing the Tory party following a bruising third-place finish in last week’s local elections.

SQUAWK BOX, MONDAY 6TH MAY, 2024

Apple launches the largest share buyback in U.S. corporate history after beating Q1 expectations, despite a 10 per cent fall in iPhone sales. U.S. markets have rallied strongly ahead of today’s jobs report with investors anticipating signals about the Fed’s next policy moves. In the UK, local and mayoral election vote-counting is under way. We are live in Blackpool where Labour has regained the Red Wall constituency of Blackpool South, a significant blow to Rishi Sunak and the Conservative Party. And in mining news, Glencore launches its own bid for Anglo American which may trigger a bidding war following last week’s approach by rival BHP.

SQUAWK BOX, FRIDAY 3RD MAY, 2024

The Federal Reserve leaves rates unchanged with its fight against inflation faltering. Chairman Jerome Powell has signalled any return to rate hikes would be ‘unlikely’. Asia-focused bank Standard Chartered beats expectations to post a 5.5 per cent increase in Q1 pre-tax profit, benefiting from higher trading income. Qualcomm shares are up in extended trade as Chinese demand fuels an earnings beat. Meanwhile, Apple is expecting a double-digit decline in China sales when it reports later today. And in currency news, the yen soars to its strongest level in a fortnight before paring gains back, prompting further speculation the BoJ will intervene.

SQUAWK BOX, THURSDAY 2ND MAY, 2024

U.S. stocks see out April in the red – their worst monthly performance in seven months with tech earnings leading the losses. Amazon posts a Q1 beat on the back of solid cloud growth and A.I. demand. However, guidance is softer than expected and CEO Andy Jassy warns of higher capex to come. Tesla CEO Elon Musk shuts down his supercharger team, costing two executive positions and hundreds of job losses as the EV maker struggles with waning demand and competition from China. A surprise fall in same-store sales at Starbucks prompts the coffee chain giant to slash its outlook. Shares have slumped to a 21-month low as a result. And Spanish luxury beauty giant Puig aims for the top of the price range ahead of its near €14bn IPO – the largest in Spain in almost a decade.

SQUAWK BOX, WEDNESDAY 1ST MAY, 2024

HSBC CEO Noel Quinn is to retire after a 5-year tenure at the UK lender which is eyeing a further $3bn in buybacks following a Q1 beat. Santander is buoyed by its European retail banking sector, posting an 11 per cent rise in Q1 net profit. It has also confirmed its full-year targets. Wall Street is on track to break a five-month winning streak despite an upbeat session yesterday. Tesla shares saw their best performance in three years. We speak to IMF managing director Kristalina Georgieva who says she is concerned about global central bank divergence as Europe is making quicker progress in the fight against inflation than the U.S.

SQUAWK BOX, FRIDAY 8TH MARCH, 2024

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