High investment costs outweigh SpaceX’s earnings beat with investors concerned about AI capex doubling from the previous quarter. Asian equities are in the green, following fresh record highs on Wall Street yesterday. Oil retreats as U.S. Treasury Secretary Scott Bessent tells CNBC he sees movement in opening the Strait of Hormuz. In pharma news, Novo Nordisk shares dive in the U.S. session despite the drug maker hiking its guidance due to investor fears over sales of its Wegovy fat loss pill.<br>See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

SpaceX posts debut earnings beat but bloated AI capex raises concerns

Squawk Box Europe Express

The CNBC app, global market news in one place. Customizable sections and personalized alerts, stocks tracking, interactive charts and market insights all in your hands. Stay connected, stay informed. Download the CNBC app today. Welcome to Squawk Box Europe. I'm Karen with Ben Boulos. These are your headlines.

Soaring investment costs outweigh an earnings beat for SpaceX with investors jittery as AI capex doubles from the previous quarter. Wall Street hits fresh records fueling a bounce in Asian stocks as earnings beat and oil retreats. U.S. Treasury Secretary Scott Besant telling CNBC there may be movement on a pact to reopen the strait.

I think there is a chance we may have a deal today or tomorrow to open the strait and move towards a more normalized position in this conflict. Novo Nordisk shares drop in the U.S. session despite the drugmaker upping its outlook amid apparent jitters over sales of its new Wigovi weight loss pill. We'll discuss with CEO Mike Duster this hour.

There's no doubt the Bullos are in charge of this market. The last four sessions we've seen rally stateside, fresh records on the Dow, the S&P yesterday. We've had it in Europe. The records spilled all across the European markets. The DAX, the French market. We saw it on the Italian stock market as well. The question is whether it remains in place. And yesterday we did have some calls from the Federal Reserve for higher interest rates. The Fed Bank of Kansas City president, Jeff Schmidt, he was talking in a speech calling for tighter policy yesterday.

SpaceX posts debut earnings beat but bloated AI capex raises concerns

Read the full transcript

The candid version is on a podcast,
not the earnings call.

SpaceX posts debut earnings beat but bloated AI capex raises concerns

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.