SQUAWK BOX, THURSDAY 26TH OCTOBER, 2023
from Squawk Box Europe Express
U.S. markets are in the red with the Nasdaq suffering its worst one-day drop since February and the S&P 500 falling below the 4,200-point mark. Meta beats Q3 expectations but the result is overshadowed by an uncertain revenue outlook for the social media giant. Asia-focused lender Standard Chartered misses Q3 pre-tax profit expectations by 2 per cent and is hit with $294m of credit impairment charges. BNP Paribas chalks up a third-quarter beat with net income hitting €2.7bn but CFO Lars Machenil tells CNBC he is concerned about the oil and gas price outlook. Ford strikes a tentative deal with UAW and the agreement now needs to be approved by members following 6 weeks of strikes. And in Washington, Louisiana Congressman Mike Johnson is finally selected as Speaker of the House to end 3 weeks of uncertainty on Capitol Hill.
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