SQUAWK BOX, WEDNESDAY 30TH AUGUST, 2023

U.S. equities enjoy their biggest one-day gain in almost 3 months after a fall in labour market data boosts hopes that the Fed may pause its rate hike cycle. U.S. Commerce Secretary Gina Raimondo has warned that China has become ‘uninvestible’ because of its barriers to business which are reportedly causing U.S. companies to shun the country. In a landmark case, a U.S. federal appeals court overturns the SEC’s decision to block crypto investment firm Grayscale’s Bitcoin ETF. Chevron decides to move staff from its three oil rigs in the Gulf of Mexico as Hurricane Idalia approaches the coast of Florida, potentially strengthening to a Category 4 storm. We hear exclusively from ABB CEO Bjorn Rosengren who says business in China remains soft due to problems in the property and construction sectors.