SQUAWK BOX, WEDNESDAY 16TH AUGUST, 2023

U.S. retail numbers come in strong, seeing the largest gains since January. However, Fitch Ratings has warned it may need to downgrade top-tier U.S. banks which causes shares to dip. The Dow breaks a three-day winning streak as a result to come in lower. Minneapolis Fed Chair Neel Kashkari reiterates that it is too early to say the Fed is done with its hiking cycle. Further woes in China as new home prices slip prompting calls for support to prop up the sector. Global investment banks have cut their forecasts for Chinese growth. And UK inflation expectations are up following record wage growth.