that's all for this edition of "dateline." i'm craig melvin. thank you for watching. [music playing] good morning and welcome to "street signs. i'm julianna tatelbaum, and these are your headlines control, alt, repeat sam altman returns to openai less than a week after his shock ouster with a new look board, bringing in taylor and former treasury secretary larry summers. nvidia third quarter revenue triples as the chipmaker

benefits from the ai boom. israel and hamas agree to a four-day humt pause as part of a deal that will include the release of hostages and prisoners from both side . >> reporter: and we're live in westminster ahead of the autumn statement as the governor considers tax cuts amidst totally high inflation our top story this morning, sam altman is back at open ai as ceo after a roller coaster few days altman who was ousted as chief executive on friday says he loves the company and is looking forward to returning where he will work with a new board altman's departure did not sit

well with openai's staff, many saying they would quit his return had the support of key backer microsoft the board will see new members take the rein, bret taylor and larry summers as well as adam deangelo. microsoft ceo santia nadella says he's encouraged and it's essential to a more stable and effective governance he said he's looking forward to building a strong partnership. arj, so pleased to have you back, so many twists and turns it was the first i read when i woke up that larry summers will

be returning give us the detail about what we know about the agreement that's coming together this morning it's been such an extraordinary few days. >> it really has it's been a roller coaster the exact details are being hashed out you read out the board details and the aim of that board is really to address some of the gosh nance concerns around open a.i. and that led to the ouster of altman. again, a company that's gone public, that's had that scrutiny of a public market structure that is able to bring that experience to the board and what is a rapidly evolving technology and a fast-paced industry right now. i think that's really what they're trying to aim for in terms of the board conversation. interestingly microsoft has been a strong, i guess, force behind

what's happening in terms of getting sam altman reinstated and also addressing some of the governance concerns, and i think nadella's statements is quite telling saying this is the right path to a more stable and effective governance for ai, and that's really a big win for microsoft. >> it does seem like microsoft has come out on top here, even though there's been a debate the past couple of days how it would have gone if it went the other way with altman joining microsoft, microsoft is getting a stronger hold or stronger partnership with open ai out of this it really is just a win for satya nadella. >> this is a big win firstly, the whole episode has shown microsoft's power on open ai and it's cemented the ability

and perhaps able to pull the strings going forward. secondly microsoft would rather sam altman stay with openai rather than microsoft. open ai needs to stay ahead. it moves with that startup kind of mentality and speed one of the things we've seen in the past is when startups or startups get gobbled up by these huge tech companies, at times the innovation of the pace might slow the abilitying to move quickly might deteriorate. by keeping sam altman in a, woing structure with open ai, with trying to stay ahead of a number of investors, thropic,

google, amazon, this is a good move. >> many employees said they would make the move to microsoft and there could have been legal problems with that let's get a check with josh on his take great to see you thanks for joining us from miami. what was your view when you saw the headlines this morning, a few hours ago, this deal coming together what do you think the latest changes mean for the future of aiing with sam altman back at the helm. >> i think it's interesting. it started out as a nonprofit and through its evolution became a cap for profit company then you had sam altman who wanted to raise tens of billions

of more dollars to creates their own chip startup to compete with the likes of nvidia. so you had sam who was now fully focused on the monetization of ai in multiple different ways and then you had a nonprofit board that was still in place from the old structure of the company, and these two themes really just didn't jive. so i think that lucky for open ai he's willing to come back the addition of larry summers and bret taylor 'pease all talents. larry summers, like you mentioned, the adult in the room also good from a political angle. as you know alt man has been very involved with meeting with people ranging from joe biden tto rishi sunak. bret taylor has been somebody who has been inplea mental in being with a company before. instead of getting rid of him and sticking with the board that they had, they showed you that

he is really the talent. he's the one who needs to stay and they're willing to overhaul the whole board to keep him there. i agree. i think that while all of the employees of open ai may be going to microsoft would have been probably amazing for the shareholders of microsoft stock in the near term, it clearly wouldn't give them as much freedom in operating as a startup with that latitude is where they really need to be. > . >> from the open ai development and how they got there, how is microsoft's relationship to change or be different from where we were before last friday it certainly sounds like it's going to be a lot stronger, but what does that actually mean for the future of open ai? >> the way i think about that is where does open ai -- where is open ai going to use incremental capital, right so if you think about it, i'm focused on sam's effort there to

really create their own chips, being somebody who covers inindividually from a stock perspective, i know that's something they talk about today. if microsoft has already talked about their willingness and open ai is willing to go down that path with them, you know, with a closer relationshipwith sam altman, may be willing to be that partner he's also focused on microsoft i would expect the relationship that openai has with microsoft to now get stronger and for more capital to come their way to attack more of this massive total addressable market. >> does this mean openai focuses

more on the monetization and applications with general ai, and after all of this has happened, what kind of influence do you expect microsoft to exert ore openai's direction >> i think if you're on the side on nadella, it was a good move, a strategic move now microsoft clearly has more of a move. he was willing to give him and his entire team a job, but he preferred for sam to stay at openai and kind of made sure that that happened you know, i'm not saying there's some kind of contractual obligation as a result of that, but we know how life works i think coming out of this, sam probably feels some intense loyalty to satya out of all of this i would expect this was a strong move by microsoft to make sure

they're kind of an almost exclusive partnership with openai and it stays that way and only improves in the future. but i would expect a full collaboration in the future. >> josh, i'm really glad to have you this morning do stick around. i do want to get your take on nvidia that's josh koren. thanks for joining us. shares are down in nvidia after the company warned of a significant drop the company, however, beat wall street expectations for its third quarter results. the chipmaker reported more than $18 billion in third quarter revenue, up 206% year on year. josh, in your words, why do you think shares are trading lower this morning >> absolutely. there's a number of reasons here first of all, one only has to pull up a stock chart to understand that nvidia was priced for perfection. just in the past couple of

weeks, and nvidia is up 20 or 25%, which is massive, massive amount, that's in anticipation of this quarter. that guidance that they gave for the q4 consensus was at $18 billion worth of revenue they guided for $20 billion worth of revenue, but my feeling and what we see on wall street is that the wul investors here are really hoping for a bigger beat so something like 21 to $23 billion in revenue it's well expected they were going to guide against perspective. i think that what the reaction is showing you is that this beat was priced in, and it's time to take profit on nvidia stock. not to say it's impossible that the stock goes up further, but i think from a near term perspective, the risk/reward is skewed to the downside and these results were good but not enough to keep the stock going, you know, where it was, and is kind of a signal to the bulls that

have really made a ton of money this year that now it's time to take some chips off the table. maybe they'll consolidate a bit and can think about its next leg up as people think about the key revenue drivers that really need to stay in place in order for this valuation to hold that is some sort of solution to the china issue. so as you mentioned in q4, they guided for china sequentially. the issue didn't show up in q4 because they were able to compensate for that with other strength when you look at that, we have things happen like we just discussed with openai potentially creating new chips, google, amazon, microsoft all wanting to create new chips. u.s. growth is not goipgs to be like what it is forever. so if china is not there from a growth perspective, that's going to spell a problem particularly

on the back end of next year where the comps get super difficult. long story short, we think investors realize this is time to trim some shares and enjoy the gains they've had so far this year. josh, what level would you say makes nvidia looks attractive where do you look to get involved if you see shares retreat? >> we like it closer to that four-year mark you know, i think there's -- you can kind of think about the bi side. investors are thinking about five times, $20 eps next year. the guidance that they gave for q4 maybe supports that, but just that, which is kind of why the stock is down because i think if you're on the buy side, your numbers didn't go up from the last print we think coming down to 4 hupp, you know, something that looks

more manageable from a multiple perspective, seeing some reasonable consolidation, that and the shareholder base kind of turnover, we would be more interested in that level than what the risk/reward is at 500 with the current set of numbers. the caveat i would make to what i'm saying is if the biden administration changed their status on the china chip ban so if that were to reverse and then they kind of had open field in china, i think i would revise that statement and i would be buying nvidia stock at 500, but i don't think that's happening, so under the current situation, we would be looking for that kind of a pullback to be interesting. >> josh, thank you so much to join us this morning it's been a pleasure josh koren, mushateer founders. binance ceo resigns as part of a settlement which will see the chief executive personally

pay a $50 million penalty. u.s. prosecutors said binance, which once controlled more than half of the crypto currency markets broke laws and failed to report suspicious transactions. coming up on "street signs," we'll recap the market action out of europe with goldman sachs' chief economist ja jari stehn that's coming up next. $14 girl, what is you doing? but making smoothies is such a hassle. not with blendjet. what's going on? shhhh. hold that thought. just pour in some milk, throw in some frozen fruit, and in 20 seconds you've got yourself a nutritiou and delicious smoothie. mmm! tastes just like the ones they sell here. and for a whole lot less. i'm ruined. awww. kick your expensive smoothie bar habit to the curb. order yours now at blendjet.com.

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welcome back to the program. tighter finance clal conditions are increasingly propagating to the real economy in an environment of weak growth, high inflation, and rising geopolitical tensions, that's all according to the european central bank's latest financial stability review which says financial markets and nonbanking financial institutions are vulnerable to liquidity and leverage risks luis deguindos will be on cnbc

coming up. we're trading higher st stoxx 600 down. we had some underperformance in it will i yesterday. this morning it's a move to the upside from a regional perspective, broad-based gains, you've got a little bit of performance from italy and some balance after the down session ftse 100 trailing a bit up just 10 basis points. the cac 40 up 0.4% and dax up as well a majority of sectors are trading higher we do have a bit of red on the board for retail, oil, and gas retail is the key performer up about 1.2% france is at risk of breaking eu budget rules as it

fails to sufficiently prioritize debt reduction, instead pledging funds for green policies and law enforcement. the european commission says belgium, finland, and croatia risk breaking rules, potentially facing sanction as a result with nine others not fully in line. charlotte joins us now with more from france. charlotte, my question to you is how much this actually matters for france are they actually at risk of facing any penalties, any consequences of being in breach of these ruling? >> this warning means they could decide in 2024 whether its could lead to penalties. france was in that procedure in 2009 and 2018 and nothing really happened and it caused criticism of eu, saying that because it was france, they get away with it macron came up with the 3.3

deficit of gdp, saying it was a success. this is the latest slap on the wrist, the latest alarm bells. certainly what we saw in the '24 budget, they're cutting spendings by up to 16 billion euros, but most of this comes from the phasing out some of the energy shields, keeping inflation in france lower in some of the eurozone countries, some of the pension reform you remember the headline where sna make $12 million in spending and there were 7 billion that had the green transition in the country. so they're working this tightrope of trying to cut the spending, to keep some investment going into the country. this is why it's important to keep it resilient after the war in ukraine

there are some alarm bells, saying how much longer is france going to be that resilient you saw it last week, the uptick in employment and it raised concerns in france and suddenly there's a concern on the cause of the debt. it's still 8%. it's not going down fast enough for some of it the cause of that debt will be $50 billion to give you the scale. you remember fitch cutting the rating to aa minus s&p didn't cut theirs, but they have the next review coming next week, and so there are all eyes on the issues. small alarm bells coming saying france is working toward a

recession. certainly the latest one going in that direction. >> we'll keep an eye on that for next week. thank you for breaking down the detail. i want to take you now to shares in french supermarket group casino, which have hit a record low this morning. the group warned it expects losses to a total of between 78 and 140 euros on the back of slower than expected business at its hypermarkets alongside its investment costs, but the group plans to turn the ebitda to the strategy from 2024 to 2028. uk softway firm sage has announced a share buyback program after reporting an 18% rise in full year operating product amid rising demand sage shares up almost 11%. they're trading right at the top of the stoxx 600. this thyssenkrupp posts a

$2.3 billion impairment. they have free flow cash investments which investors are cheering this morning. zooming out to the macro, goldman sachs says it sees headwinds improving next year while the uk picture remains mixed. falling pressures from the underlying inflation and support will outweigh any fiscal drag seeing growth coming in at 0.9% in 2024. i'm pleased to say jari stehn joins us it's great to see you in person. i had to read through. how would you characterize the growth picture for the eurozone next year? i'm wondering where you think this pickup is going to come from. >> yeah. there are pavingly two things. one is that inflation is coming

down we've made a lot of progress on the inflation front already, headline inflation has gone from above 10 to below 3%, and wage growth has remained fairly firm. so on an inflation adjusted basis, we think households will face a better household picture as we go into 2024 that's the first factor. the second as you mentioned is that falling inflation also means that monetary policy can be more friendly next year than it has been ore the last year and it's pretty clear we think the ecb is done here and the discussion really is around when the ecb will turn to cuts. in our base where inflation holds up and remains at 2%, we don't think they're going to be in a rush to cut, but they will cut, we think, in the third quarter, and portly, of course, they have the option to cut earlier. so when you put that together, we think it's a somewhat more

constructive picture. >> i royn't to come onto the ecb in just a moment first on the manufacturing side where you're seeing really depressed activity across the eurozone, it's been pretty disappointing. how are you seeing that affecting the growth picture a lot of the pressure we've been seeing comes from outside the eurozone. >> that's right. we have seen the gas crisis weigh in on the activity we've seen higher interest rates weigh in on activity and growth in china weigh in on activity. we think the financial picture will get a bit better but not a lot. it won't be the driver next year because you have on the one hand stable interest rates and the decline in gas prices that we've seen relative to where we were a year ago that should be helpful for manufacturing, but the

global growth environmental, of course, is going to remain a little more mixed. we are quite optimistic on the growth in u.s., but we're a bit more cautious in other places including china and the uk. >> talk about the ecb becoming more friendly. that was the word you used and looking at a potential cut in q3 of next year what happens once they cut rates the first time what is the path to lowering rates, becoming more accommodating look like? >> i think it will depend importantly on the growth picture at that point in time. so in our central scenario where we just said the economy is relatively resilient, we think they will cut fairly gradually, and so what we have is a 25-basis point cut basically ever quarter until you get back to something like 2.5% so that's the central scenario, which is a fairly benign one now, of course, in the past, they have cut more quickly, but

that has usually coincided with a much weaker economic backdrop where the economy was sliding into recession, the unemployment rate was rising quickly. i would say a gradual reduction because inflation, keep in mind, is still above 2% in our forecast for next year, but, of course, if the unemployment rate were to move up more quickly, they have the option of, you know, cutting. >> let me turn now to the uk we've got a correspondent out at westminster. we'll be getting out to sylvia shortly to talk about what the market is expecting from the autumn statement this afternoon. my question to you is there a way for the uk government in this statement and perhaps in the budget in the spring to push through tax cuts in a way that doesn't have a negative impact on inflation, negative, of course, being driving inflation higher >> right i think that's the key balancing act. what we expect for today is

fairly limited the backdrop is some headroom, essentially 25 billion pounds. it's because revenue is stronger than what was anticipated in the spring we think they'll use roughly half of that measure with a tax measure, much talked about in the press, probably includes some full expensings extension on the capital expenditure side, national insurance, maybe a couple of other text measures, but we do think the government will save some of that headroom for potential tax reductions down the road that could include personal income tax cuts in the spring as you say, i think it will depend quite importantly where inflation is at that point because you do want to avoid a situation where you provide significant fiscal stimulus at a time when inflation is still above target and the bank of england then needs to respond to that. >> what a balance to achieve

jari, thanks we'll leave it there that's jari stehn from goldman sachs. coming up on the show, we'll be crossing over to sylvia in westminster. sylvia. >> reporter: that's right. don't miss my interview with the leader of the liberal democrats. that's coming up right after this break

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welcome back to "street signs. i'm julianna tatelbaum and these are euro headlines control, alt, repeat sam altman returned to the help of openai after a week after the shock ousting with the firm unveiling a new board bringing in bret taylor and former treasury secretary larry summers. nvidia third quarter revenues triple as they benefit from the ai boom it warns of a significant decline in china sales as export restrictions kick in. the european central bank warns the outlook for financial stability remains fragile amid weaker microfinancial conditions while across the channel, the uk

checker gets ready to deliver the autumn statement. and israel and hamas agree to a four-day humanitarian pause that involves a deal of a release of hostages and prisoners on both sides. uk chancellor hunt is expected to report today the latest public sector borrowing figures came in more than a billion pounds higher than the forecast, but the broader deficit was lower than expected for the first half of the fiscal year. let's get out to sylvia, who joins us out in westminster with a special guest. >> reporter: that's right. so i begin this conversation how the leader of the liberal

demo democrats. first and foremost as we're awaiting for the autumn statement. i would like to get your thoughts on what you would be announcing if this was your budget. >> well, the democrats want a policy of economic growth. we've got to grow our economy that's been in the doldrums. we'd be emphasizing investment and infrastructure in the uk, our transport, our rail wails, our energy we'd also be looking at small businesses that have really suffered very old-fashioned they promised to fix them and haven't. and then when we come to ordinary families and businesses, there's too many people on loan and they're not getting health treatment that they need and often staying off work for months and months not their fault, but because the government hasn't fixed the nhs. we've got quite a detailed package for growing oureconomy

>> when it comes to the nhs, i know this is something they've been very vocal about and how you'd like to see the government provide more funding to the nhs. but when you look at the numbers that public money has been used for the nhs, we're talking about a lot of money, about 2 billion. shouldn't the government be looking at other areas such as climate policy and perhaps the nhs question is more about reorganizing some of the cash that the institution is receiving? >> you're right. they've wasted a lot of money on the health spending. they've not spent it efficiently, but actually if you look at the needs, for example on gps, family doctors, the main place that people go for their initial health treatment, we have a massive shortage of them. there's been no long-term strategy recruit gp. that often means people either go to the hospital and create even more pressure in our

hospitals or they stay off work, undermining our economy. we really do have to tackle all sorts of problems. and the conservants promised to do that and they wasted a lot of money. we need better spending on health but we need to tackle people's problems. we need to deal with care. people are going to hospital unnecessarily. they're staying in hospital, not coming out quickly, because the government failed to sort out the care side. so they've really misunderstood the impacts. i was disturbed to hear the prime minister this week actually exclude health from his top priorities he's really out of touch he doesn't understand what businesses are saying and what people are suffering. >> regarding the tax cuts, we

don't know how big this is going to be, but do you think this is the right approach given all the priorities you mentioned on health, climate policy, and so on is this the right moment to actually deliver tax cuts? >> i think we'll see a big desipgs from the chancellor, deception of tax actually they've got a very large amount of increases in tax in the pipeline, particularly on income tax, and they're trying to hide that from people, and i think what we might see is some, you know, small welcome tax cuts, but massive tax risers that the conservatives are responsible for and that's going to hit lots of families up and down our country so rather than a tax-cutting measure today, the reality as most people know is this is a tax-raising government. >> do you think the bucket is actually coming from a lame duck government given we have an election within 2 months or so

>> there's a sense out there people want an election as soon as possible. they're actually fed up with the conservatives. they feel they're out of touch, that they don't understand what's going on. they're taking people for granted, and they want to see the investment in the health services they know that's important for the economy. they want better support for the cost of living people are really struggling with their energy bills, their food bills, the mortgages, their rent and this government seems so out of touch, this government doesn't understand that. when we go to doorsteps up and down the country, we find lifelong conservatives now switching to the liberal democrats in many seats. they like what we've been saying on the economy and on the health and they're turning to us. we want the election to come soon. >> i understand that and speaking of that election, would you consider a coalition with the labor party >> we're focused the election campaign itself.

we're up against many seats particularly in what we call the blue wall seats in places like sussex and heartlands. democrats are the ones who can beats the conservatives there. we're also seeing in the west country, we're coming back really strong. so the liberal democrats are looking forward to the general election because we're seeing so many of our traditional supporters coming home, but lots of longtime torey supporters coming to us, seeing a party that inss the economy and will deal with problems on health. >> but there is the right -- the voters have the right to understand what's your medium and long-term plan and why i ask if you'd at least consider the possibility that in order to get to the government to be in such a powerful position with an external election, there's at least some room for you to find a compromise with the labor

party. >> i'm focused on the general election my job is to be with as many as i can and i'm extremely confident we can do that i've seen in the past people in the westminster bubble have focused on what happens after the election, and that means you lose that focus on the matter at hand, and i think people do want to hear what we stand for, whether it's on the economy, which i've described to you. on the environment, many people are worried about the local environment. they want somebody who will stand up for their local community and deal with things like the sewage problems i don't know if your viewers know our water is a mess in the country and we've got polluted rivers and seas, and people want that changed. >> just to clarify on the climate policy, if you were in government, when you think about what the u.s. did with the u.s. inflation reduction act, should the uk be looking at doing

something quite similar to that and essentially help the businesses adapt to the carbon neutrality >> certainly, they're moving very strong on climate action. we've got a very strong record. >> would you consider this as well >> we consider a lots of very strong messages. americans have a different sort of system, but we believe one of the ways you're going to get the economy growing again is through strong infrastructure projects which will involve massive work on low carbon, whether it's on green or electricity system, which we made britain the world leader in offshore winds that was a liberal democratic policy we want to take that investment. invest in people's homes, insulate better. i think it's common sense, but the con serve activities refuse to adopt it. >> it was a pleasure to speak to you, ed davey, the leader of the

liberal democrats, but it's been a busy morning in westminster. a couple of minutes ago we spoke to the head of the tfc and this is what he had to say an how the government has not been addressing the cost of living crisis. >> they've got a plan to address the cost of living crisis which is a wage crisis the government should look at ways to tax wealth, not wages. i mean the wealth of the rich is 1% it's grown 31 times faster than the rest over the course of the last decade, but the government's got no credible plan to tax wealth of course, i don't want supermarkets to pay more but those who can, but this chancellor, i'm afraid, won't deliver the tax. >> i want to look at the upcoming election. we've seen a change in tone from the labor government as well that i -- they seem to be more

friendly do you think they're in a position to help workers if, indeed, they win the next election >> absolutely. it can't come soon enough. of course, any party in governance or wants to be in government needs to engage with business we've been engaged close will i with labor at the heart is what they call a new deal for workers, plans to boost wages right across the economy, new rights for trade unions that's the approach that would be good for the people i represent and the uk business broadly as well. >> they say they're dealing with inflation. can you announce that front? >> a year ago he said it was global energy prices and now he's taking it down. you can't have your cake and eat it now, of course, any easement of inflationary pressures is good, but those prices are baked in.

and at a time when they're seeing the wages rise, the price of supermarket prices haven't gone down or gas prices haven't gone down. he's stretching credibility a little bit for claiming credibility for driving down inflation and the cost-of-living crisis. >> that was part of my conversation with the head of the tuc, huge focus on inflation. we'll be bringing you special programs at 12:30, so you can hear from the chancellor himself. and more analysis and commentary here on cnbc. >> sylvia, thank you so much for your coverage on the ground this morning. for viewers, i want to highlight you can follow the coverage on our website at cnbc.com. still ahead on "street signs," israel and hamas strike a deal on a humanitarian pause in gaza. we'll have the latest after this break.

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welcome back to "street signs. israel and hamas have agreed to

a humanitarian pause in gaza that will take place in the next 24 hours and last for four days. the agreement brokered by the u.s. and qatar includes the release of 50 hostages from the palestinian enclave in exchange for the release of 150 palestinians detained in israeli prisons. dan joins us from dubai with more on this agreement dan, i think this is going to come as a very welcome piece of news for so many who have been watching from a humanitarian perspective. what do we know about how this deal came together >> julianna, this is the must significant brag through since the october 7th attack the exchange was brokered by qatar as well as egypt and the united states. and what was agreed here was a pause in fighting. that pause is scheduled to last four days, and it's going to allow 50 hostages, mostly women and children who have been held captive for more than a month

now to finally be released and then in exchange, several israeli-held palestinian women and children will also be set free so this was pulled together in the early hours of this morning and over the last six weeks. it's not a complex arrangement, but it's fraught with unknowns and uncertainties. the report says the exact numb were of those released could rise in the later stages of the aagre agreement will hold. also the pause in fighting is going to allow more humanitarian aid and fuel trucks enter into gaza as the idf list ts. take a listen. >> we see an increase in the truck loads. it with us 00.

it increases day by day. if there's a halt in the fire then it will be easier to maneuver, moiblize more aid and supply the goods and needs of the people who are not israel's enemy. they're the people of gaza that's why this is a good step for them as well. >> this agreement has been welcomed around the region and there has been positive reaction from aids groups as well, but benjamin netanyahu has stressed this deal does not mean the war with hamas is over he actually said following the agreement the fighting is likely to continue until israel eliminates hamas, returns its hostages, and removes all threats in gaza. but it's still a significant step forward it's the first time both sides have agreed to follow a diplomatic track, which is a very positive and significant step forward which could, perhaps, put this war on a course for a more permanent cease-fire, but, of course, that

remains to be seen at this point, julianna. >> dan, that was precisely my question to you, what it with us going to be. does this change the trajectory of the conflict? yes, we have four days for humanitarian purposes, but does this actually change where the conflict could go from here? >> that is the key question. it will change the course of the conflict if it holds what we need to see is both sides maintaining their agreement, both sides agreeing to release the prisoners, and both sides agreeing to exchange hostages if that happens, we could see the deal being extended, which could allow more high profile hostages being released. it's important to point out the prisoners and hostages set to be released are women and children. remember, they have very little value to hamas speaking realistically about the

situation on the ground, it's the idf soldiers that need to be released in order for this to really tilt the register for israel and, of course, the other high-profile americans to be released as well to tilt the register this is a positive step. women and children being released, obviously critically important, but we will see high-profile hostages being released in the coming days and hours, and, of course, important to see this deal holding as well with both sides maintaining the agreement in order for it to be extended, which may lead to a cease-fire in the future, but the situation obviously still very volatile at this point. of course, it's in the fog of war and anything could happen. >> dan, thank you so much for joining us this morning and giving us the latest. let's turn now to european markets. we're a couple of hours into trade, and we've got green on the board with the exception of the ftse 100 it's turned negative

down 14 basis points or so we have substantial pullback in kingfisher after the home improvement retailer cut its outlook profit for a second time in three months. outside of uk, we're keeping a close eye on fiscal developments with the autumn statement coming up this afternoon. it's green for the other markets. 0.4% higher for it will i and switzerland. 0.3% for the german market and 0.2% for the french market. turning to bond markets, yesterday interestingly we had ecb officials once again cautioning about the expectation of rate cuts, perhaps that factoring into trade today we've got yields higher across the board in europe. you've got the 10-year trading around 4.3%. the 10-year bund trading at just below 6% for the u.s. treasuries, a bit of a mixed pressure. the 30-year trading well below

that 5% market the 2-year trading around 4.9% or so. let's take a look at u.s. futures, what's on store for the wall street open not much indicated after we had the nvidia earnings come through yesterday, that stock trading lower in premarket after beating expectations but really opening up some concern around the quarter ahead in particular with sales to china looking a little bit weaker than some had expected. and let's get a check on microsoft premarket before we hand you over to our u.s. colleagues we're looking at modestly start to trade for microsoft after the news that the openai ceo sam altman will be returning to openai that is it for "street signs." i'm julianna tatelbaum "worldwide exchange" is coming up next. st deal ever on the game-changing blendjet 2 portable blender. its the perfect gift for everyone shopping list!

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it is 5:00 a.m. at cnbc headquarters and here is your "five@5. openai brings sam altman back and names new directors. shares of nvidia under pressure despite sales surging 200% from a year ago we'll tell you what's raining on the stock this morning. also a developing story in the middle east as israel agrees to a temporary cease-fire and hamas hostage release. plus crowded