Coming up: Bank of America CEO Brian Moynihan live to tell the tale “Squawk Box Europe”
Bank of America CEO Brian Moynihan will give an exclusive live interview on CNBC’s “Squawk Box Europe” at 8.00 a.m. London time.
The bank released its third-quarter earnings on Oct. 17 and stressed that the resilience of the U.S. consumer was a reason to lower concerns for an economic recession.
You may watch the interview live to tell the tale CNBC here.
— Hannah Ward-Glenton
European markets: Listed below are the opening calls
The FTSE 100 is predicted to be down 32 points to 7,039 and Germany’s DAX 67 points lower at 13,155, in accordance with data from IG. The CAC shall be down 25 points to open at 6,226 and Italy’s MIB shall be 89 points lower at 22,347.
CNBC Pro: Tech stocks are tumbling but one fund manager still loves Microsoft. Here’s why
Tech stocks have tumbled this week, as investor optimism fades following disappointing results from among the sector’s biggest names.
But fund manager Brian Arcese is standing by Microsoft, calling it a “solid long run defensive holding.”
Pro subscribers can read more here.
— Zavier Ong
CNBC Pro: There’s quite a lot of pain ahead for markets, strategist warns
Investors should think twice before chasing the recent bounce in stocks, in accordance with one strategist.
“I believe the market rally is a respiratory space rally,” Beat Wittmann, chairman of Switzerland’s Porta Advisors, told CNBC.
CNBC Pro subscribers can read more here.
— Jenni Reid
Chip stocks fall after U.S. official says allies could impose export limits on China soon
Bank of Japan keeps rates of interest on hold as expected
Japan’s central bank left rates of interest unchanged Friday, consistent with predictions by economists in a Reuters poll.
The Bank of Japan also said it might purchase mandatory amounts of Japanese government bonds at a set rate with the intention to keep 10-year JGB yields at 0%.
“The Bank will support financing, mainly of firms, and maintain stability in financial markets, and won’t hesitate to take additional easing measures if mandatory,” it said in its monetary policy statement.
— Jihye Lee
