Rishi Sunak looks set to become the next U.K. prime minister with results to be announced Monday afternoon.

MORNING SQUAWK APAC Monday October 24 2022 AS OF MON, OCT 24, 2022 • 03:15 ET S&P 500 Close 3,752.75 +2.37% +86.97 S&P 500 Futures 3,769.25 +0.14% +5.25 10-Year Treasury 4.167% 0.00% -0.045 Rishi Sunak closes in on Downing Street after Boris Johnson pulls out of leadership race Rishi Sunak looks set to become the next U.K. prime minister with results to be announced Monday afternoon.   More » Tesla shares down 3% in premarket after Elon Musk's EV firm cuts price of cars in China Tesla cut the price of its Model 3 and Model Y in China, partly reversing price hikes earlier in the year.  More » The UK's Conservative Party is gearing up for a new leader. Here's what to expect The U.K. is gearing up to install a new prime minister this week — its fifth in six years — following the resignation of Liz Truss just 44 days into the job. More » Almost half of the ultra-rich haven't figured out how to pass on their wealth, research finds 41% of investors with more than $1 million worth of assets have not planned how they will pass on their wealth, a report by UBS found.  More » Fears of a severe recession deepen as European business activity slows on surging energy costs European firms have been under pressure due to higher inflation, particularly coming from energy costs and wage pressures.  More » TODAY'S GUEST HIGHLIGHTS ON CNBC All times in SIN/HK 08:00 Nick Eisinger          Co-Head Emerging Markets Active Fixed Income             Vanguard  09:00 Didier Borowski                               Head of FX strategy       Amundi 09:30 Duncan Wrigley  Chief China Economist  Pantheon Macroeconomics Unsubscribe Digital Products Manage Newsletters Feedback Terms of Service Privacy Policy Join the CNBC Panel © 2022 CNBC LLC. All rights reserved. A property of NBCUniversal.   900 Sylvan Avenue, Englewood Cliffs, NJ 07632   Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis.   Data also provided by THOMSON REUTERS