SQUAWK BOX, TUESDAY 4TH JULY, 2023

U.S. indices start H2 positively ahead of today’s 4th July holiday. Meanwhile the RBA’s hiking cycle pause has buoyed investor sentiment in Asia. In tech news, China imposes export controls on vital rare materials gallium and germanium which are used in semi-conductor production. The move is seen to be in retaliation against Western chip curbs on Beijing. Russian and Saudi oil cuts fail to sustain a crude rally as recession fears and the Chinese slowdown continue to hamper demand. Social media giant Meta unveils Threads to rival Twitter. The platform is set to go live on Thursday.