SQUAWK BOX, THURSDAY 4TH MAY, 2023

The U.S. Federal Reserve hints that it could be nearing the end of the hiking cycle following its tenth consecutive rate rise. However, turmoil remains in the U.S. regional banking system with L.A.-based lender PacWest seeing shares nosedive 52.5 per cent in extended trade. PacWest says it is eyeing strategic asset sales and that deposits have stabilised. On this side of the Atlantic, investors are split over whether the ECB will hike by 25 or 50bps – the central bank’s seventh straight hike. In aviation, Airbus posts slightly lower-than-forecast decline in core earnings with supply chain issues weighing but it insists it will hit production targets. And Qualcomm gives lighter-than-expected sales guidance on weak smartphone demand.