SQUAWK BOX, WEDNESDAY 27TH MAY, 2020

SQUAWK BOX, WEDNESDAY 27TH MAY, 2020

Crossing key levels… U.S. stocks rally with the Dow briefly topping the key 25,000-level and the S&P 500 surpassing 3,000 for the first time since March. Banks lead the strong moves higher, after JPMorgan CEO Jamie Dimon says the lender is “very valuable” at this price and also saying there is a good chance of an economic recovery in H2. The ECB says that soaring public debt levels will put pressure on sovereign bonds but the central bank’s vice-president Luis De Guindos tells this channel that the alternative would be much worse, as Eurozone governments have no other choice but to introduce large stimulus packages in the wake of the pandemic. In corporate news, Commerzbank issues up to €3bn of co-co bonds to shore up its virus-hit balance sheet . And we are live in Hong Kong where tensions continue as lawmakers debate a bill which could criminalise disrespect and criticism of the Chinese national anthem.

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Jaksot(1823)

Cook to step down as Apple CEO

Cook to step down as Apple CEO

Apple CEO Tim Cook steps down from the role with hardware chief John Ternus chosen to assume the helm from September. Cook, who oversaw a $3.6tn increase in the company’s market cap during his 15-year...

21 Huhti 27min

U.S. Navy seizes Iranian cargo ship

U.S. Navy seizes Iranian cargo ship

The U.S. Navy fires on and seizes an Iranian cargo vessel in the Gulf of Oman with both countries reinstating blockades through the Strait of Hormuz. President Trump says his delegation lead by Steve ...

20 Huhti 25min

Israel-Lebanon 10-day truce begins

Israel-Lebanon 10-day truce begins

A 10-day ceasefire between Israel and Lebanon comes into effect. U.S. President Trump says he sees the conflict with Iran ending soon. Bank of Israel governor Amir Yaron tells CNBC that he expects a d...

17 Huhti 25min

Wall Street surges as Iran peace hopes rise

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The S&P 500 and Nasdaq post new record highs as investors signal hopes for an end to the ran conflict. The positive sentiment has also affected Asian equities with the Nikkei leading gains. The U.S. a...

16 Huhti 27min

Trump eyes resumption of Iran talks

Trump eyes resumption of Iran talks

U.S. President Trump says peace talks with the Iranian regime could resume in Pakistan within days. Speaking to CNBC at the IMF spring meetings, Pakistani finance minister Muhammed Aurangzeb said he w...

15 Huhti 27min

U.S. navy launches blockade of Iranian ports

U.S. navy launches blockade of Iranian ports

The U.S. navy begins its blockade of Iranian ports in the Strait of Hormuz. However, there are signs of further dialogue which have helped crude prices to drop back under $100 per barrel. President Tr...

14 Huhti 29min

U.S. moves to blockade Strait of Hormuz

U.S. moves to blockade Strait of Hormuz

Following failed U.S.-Iran peace talks in Islamabad over the weekend, Washington moves to blockade ships exiting or entering Iranian ports in the Strait of Hormuz. Oil prices surge on the news while A...

13 Huhti 27min

Trump accuses Tehran of ceasefire breach

Trump accuses Tehran of ceasefire breach

U.S. President Trump accuses Tehran of not honouring the ceasefire with the Strait of Hormuz remaining firmly shut. Israel has said it was willing to hold peace talks with Lebanon, despite continuing ...

10 Huhti 27min

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