SQUAWK BOX, WEDNESDAY 17TH NOVEMBER, 2021

Strong U.S. retail sales for October drive Wall Street gains as robust consumer spending continues despite rising prices. U.S. President Joe Biden is set to reveal the next Federal Reserve Chairman this week while CNBC hears from Deputy Treasury Secretary Wally Adeyemo, who says inflation will remain high all the while Covid is rampant. The fallout from Shell’s decision to quit the Netherlands continues, as an MP in The Hague threatens to slap it with an exit tax over its move to the UK. Meanwhile, shares in EV makers surge as Lucid overtakes Ford by market cap and Rivian becomes the word’s third most valuable auto maker.