SQUAWK BOX, WEDNESDAY 19TH JULY, 2023

Higher net interest in the U.S. helps Bank of America and Morgan Stanley to record bumper quarterly profits. BofA CEO Brian Moynihan tells our colleagues Stateside that a soft landing is now very much a possibility. The strong bank earnings on Wall Street see the Dow posting its longest winning streak in more than two years. Microsoft reveals pricing for its new A.I. subscription sending shares rocketing to a new all-time high. The firm’s Activision Blizzard deal extension talks now go down to the wire. The UK could see further hot inflation data coming through later on, as continuing price pressures mean the Bank of England is likely to maintain tightening.