Squawk Box anchors discuss the recovery in equity markets as U.S. President Donald Trump and the Chinese government downplay tensions in the trade war. The Dow posts its best day in a month as Wall Street recovers from Monday's sharp sell-off, and stocks across Asia rise. Tech shares help lead the rebound with Apple rising more than one and a half percent, as investors wait for earnings from Chinese giants Alibaba and Tencent. China posts a weaker than expected rise in April industrial output, while retail sales growth drops to a 16-year low. Shares in Commerzbank close sharply higher following a report that Italy's Unicredit is stepping up plans to bid for the German lender. On the earnings front, French lender Credit Agricole, Germany energy firm RWE and cement giant LafargeHolcim report numbers.

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