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SQUAWK BOX, WEDNESDAY 31ST MAY, 2023 episode artwork

May 31, 2023 26 min

SQUAWK BOX, WEDNESDAY 31ST MAY, 2023

from Squawk Box Europe Express

The bill to raise the U.S. debt ceiling clears the first hurdle in the House Rules Committee and faces a House floor vote tonight. Chinese manufacturing contracts further, reaching a five-month low while the services sector activity hits its slowest pace in four months. Asian markets slump as a result. The Nasdaq manages to cross the 13,000-point mark for the first time since August 2022, buoyed by an A.I. tech stock-inspired rally. The Dow, however, is set to post its first negative month in three. Sticking with tech, chip maker Nvidia briefly joins the trillion-dollar club, but falls back towards the end of the session with a market cap of $990bn.

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SQUAWK BOX, WEDNESDAY 31ST MAY, 2023

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