SQUAWK BOX, WEDNESDAY 13TH MARCH, 2024

Inflation in the U.S. unexpectedly ticks higher in February, potentially lengthening the Fed’s path back to lower rates. However, U.S. and European equities hit new highs as investors stick with their June Fed rate cut predictions. In politics, President Joe Biden and former President Donald Trump have both won enough primary delegates to become their parties’ presumptive nominees in November’s presidential election, according to NBC News. In Japan, major companies commit to fully meet union demands for pay hikes, strengthening speculation the Bank of Japan could exit negative rates next week. Boeing suffers a plethora of quality control problems with its top clients complaining of delivery delays, cancelled flights as well as hiring freezes at the U.S. plane maker.