SQUAWK BOX, FRIDAY 7TH JULY, 2023
from Squawk Box Europe Express
Private sector jobs in the U.S. grew by almost half a million last month with the labour market showing no signs of abating. Non-farm payroll numbers are out later today. Equites and bonds see a sell-off as investors anticipate the U.S. Federal Reserve to continue its hiking cycle further into the year. The 2-year U.S. Treasury bill hits its highest level in 16 years while Europe’s Stoxx 600 plunges to its steepest one-day drop since March. U.S. Treasury Secretary is in Bejing attempting to thaw difficult trade relations between the world’s two largest economies. An emphasis on healthy competition is top of the agenda. In tech news, Samsung expects a 96 per cent fall in quarterly profit in what would be the Korean electronics giant’s worst performance since 2009. Hydrogen firm Thyssenkrupp Nucera is due to list on the Frankfurt stock exchange in what will be one of Europe’s largest IPOs this year. Nucera shares are priced at €20 providing the company with a market cap of €2.5bn.
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