tv Street Signs CNBC January 2, 2024 4:00am-5:01am EST
4:00 am
denied his appeal in 2021. the average stay on florida's death row is just over 16 years. ♪ happy new year. good morning and welcome to "street signs." i'm joumanna bercetche and these are your headlines. europeans pick up with the stoxx 600 hitting the highest level in more than two years. smooth sailing for maersk. it is pledging to go through the
4:01 am
red sea. chinese factory activity accelerates in december according to a private survey conflicting against data. the business lags with the geopolitical tensions carryover into 2024. at least 48 people are reported dead after a 7.6 magnitude quake rocks western japan with many more feared trapped below the rubble and thousands without power. good morning. our first story of 2024 is wishing viewers a year of prosperity and health and peace for the world as we head into a
4:02 am
turbulent time, we will talk about the red sea. before that, we are getting a bit of data that we need to digest. the final pmi numbers for the eurozone. we had the numbers come up for germany and france. the euro final pmi for manufacturing is 44.4. that is a smidge higher than the 44.2 flash estimate. a revision in the manufacturing numbers as a whole. for germany, we saw 43.3 print come in versus 43.1 flash print are. a slight upward revision for germany. for france, 42.1 against the 42.2 estimate. don't forget the overall figure is below the 50 mark which is a sign of expansion with overall
4:03 am
activity data. this is still six appoipoints b 50. manufacturing data is far is bottoming at the low levels as opposed to picking up speed. something to bear in mind for the new year. it is the first day of trading in 2024. let's look at the markets. stoxx 600 is up .20%. this is after jumping more than 12.7% for the year in 2023. that is the final marker for the year. we ended up in positive territory up the almost 13%. fully compensating almost for the losses in 2022 when the stoxx 600 ended the year down 12.9%. 2023 is a year of recovery. what will 2024 bring? stoxx 600 is in the green in the early trading minutes. as for individual boards, every
4:04 am
single one in the green. ftse mib up.60%. we saw out performance in the italian banking names. to give you an idea, the ftse mib ended up 28%. we are seeing a strong performance this morning. ftse mib and ibex up 1%. the dax in germany is shy of 17,000. 200 points p higher. strong start to the year up 1.3%. strong performance with the dax despite the weakness. we talked about the back drop in germany and the doom and gloom at the activitylevel. the dax is up 20%. cac 40 is up 67 points or .90% higher. we are seeing a bounce in the
4:05 am
banking stocks. and ftse 100 is only up .30% this morning. the relative under performer. sticking with what happened in 2023, the ftse 100 was up 3.7%. today, we are focused on the performance of retailers after the uk food inflation has fallen to 6.7%. that is giving the likes of m & s a boost this morning. this is what we have for breakdown. autos up 1.9%. banks responding well to the risk-on environment. oil and gas with a jump up 1.3% in stock space given what is happening to spot oil prices after more events occurring at
4:06 am
the straits around the red sea. we will talk more about that on the show. this raises a lot of questions of shipping costs and supply chain issues in the future. let's talk more about the red sea. we are keeping a close eye on commodities. it is not just oil and gas, but the shipping shares as well. despite concerns in the red sea, maersk shares are sailing higher. the shipping giant plans to route 30 container vessels through the suez canal despite the attacks by the houthi rebels over the weekend which halted all transit through the region for 48 hours. this is how maersk shares are doing this morning. up 4.4%. that is despite the issues there and the latest attacks on the vessels from the houthi rebels. you can see every single one of
4:07 am
the shipping companies is trading in the dpregreen alongs broader equity markets. maersk up 4.4%. these companies announced they would divert vessels away from the key shipping route. as i mentioned, oil prices are rallying for the start of the new year as clashes in the red sea have investors fearing shipping snarls. on monday, iran sent a war ship in the area in response to the u.s. military's intervention over the weekend which saw it sink three boats belonging to tehran-backed rebel groups. this is how oil majors are reacting this morning. we spoke about spot oil prices higher. no surprise oil majors are ticking higher as well. switching to semiconductor space. asml says the dutch government
4:08 am
blocked the exports of chip making commitproduction to chin. it does not expect the move to have a material impact on the financial outlook for the year. sideways movement in asml. a big run-up at the end of the year with other tech stocks, but today, in response to the news, it is trading flat. looking ahead, the first week of the year begins with markets on the lookout for key indicators. we had manufacturing data out of the eu this morning and we will have the uk numbers on "street signs." we will have the jolts data states side. on thursday, we have the final pmi print from europe and the u.s. as well as inflation for france and germany. we get the cpi print for the
4:09 am
euro area on friday before attention turns to the nfp job support in the u.s. lots to look forward to this week. if you thought it was a slow one, you are mistaken. we have janet mui from rbc brewin dolphin. janet, i want to start off asking you the main narrative for the markets in 2024? it feels the narrative for the last month of 2023 was about anticipation of the rate cuts. what is the narrative for 2024 if it is not the same narrative for the final trading weeks last year? >> happy new year to you. thanks forego ha having me. i think it will be continued disinflation. that is important and a basic requirement for the markets. we expect the rate cuts both for the u.s. and uk and euro area. i think that will be a very
4:10 am
strong catalyst for market returns in 2024 whether you are talking about bonds or equities. i think 2024 may further provide evidence of a soft landing. i think this is going to be a very positive driver as well. i think in general, we have more positive outlook for 2024. having said that, we are aware of the risk and those around the geopolitics. we are on the glass half full side of the beat. >> i was looking at analysted pencilled in for the performance after 2023. knowing the s&p ended 2023 up 24%. it is interesting to see the divergence. you have bullish analysts out there with goldman and citi
4:11 am
ending at 5,200. where do you see just at a headline number for 2024? >> so, we don't actually make point forecasts for the s&p 500. we generally are bullish. i don't think we are at the extreme end of bullishness. there is risk out there in the terms of the geopolitics. some rate cuts are priced in already. that is a risk that the federal reserve may not deliver as many cuts as expected. inflation risks reemerge because of the risk in the energy markets. we are bullish on the view that we will deliver some rate cuts. the fact there is a higher potential for a softer landing. we don't think that will be able to cut as much as previous cycles because they are still worried about inflation reemerging.
4:12 am
overall, we are bullish, but not overly bullish. we don't see the pair bear markr 2024. >> one of the characteristics of 2023 is a lot of the leadership is concentrated on a handful of stocks. many people talking about the magnificent seven. for most of the year, all of the performance was centered around those stocks. toward the last couple weeks of the trading year, it was more broad based. how do you think that changes in 2024? >> i think that is interesting. close to the end of the year, as you mentioned, it is more out performance from the large caps over the small caps. if we get a soft landing, we do see that the equity market rally could stall. we think the large caps will still deliver positive returns. i think it is a theme of broadening of the equity markets and not relying on the
4:13 am
magnificent seven to deliver the results. i think that will be a lot of stock picking opportunity for investors. >> as you were speaking, i was looking at data coming through showing that european banking stocks have risen to the highest level since may of 2018. already up 1.3% in the early hour of trading. the european banks baing story year of recovery. do you have a view of the european banking sector faring within the equities? >> we have a neutral view on the banking stocks. the driver is the net interest margin. i think the support factor means there is a likelihood that the euro area will avoid recession and inflation is coming down.
4:14 am
i think we generally have a neutral view as you said with the rally being a bit strong despite the various challenges in the sector. we are not particularly bullish or bearish on that. >> janet, i believe the last time you came on the channel, you told us that you were overweight bonds. do you still have that view? given over the last couple weeks in the theholiday season, you s stalling. do you think there is room for it to continue throughout the course of the year? >> we think so. bond overweight on uk government bonds. i agree with you there that the bond markets are pricing in rate cuts. a lot priced in. we see there is a potential for further rally. the central banks have not delivered the rate cuts yet. when that is realized, that is a
4:15 am
further rally to go. we are overweight on uk gilt. there is room for the uk gilt to rally. the economic situation is worse than people anticianticipated. the fed still would not commit to any potential rate cuts. we think they would be pressured and forced to deliver at some point when the economy slows more significantly. i think there is more room for uk gilts to rally over the u.s. treasuries. generally, when central banks cut, it is usually a bull market evolves. >> janet, thank you for joining me today and giving me your views on 2024. janet mui from rbc brewin dolphin. china's factory manufacturing increased at a larger pace than expected.
4:16 am
pmi rose from 50.8 over 50.7 in november. in contrast, the official data released over the weekend shows china pmi contracted for the third straight month in december. speaking of china, the ev maker byd posted a 62% jump in sales in 2023 selling over 3 million vehicles. the figures were boosted by 70% surge in december moving the firm a step closer to topping tesla in the ev figures. coming up on the show, shipping fears sent oil prices higher to start the new year. we will bring you the details coming up next.
4:17 am
when we started our business we were paying an arm and a leg for postage. i remember setting up shipstation. one or two clicks and everything was up and running. i was printing out labels and saving money. shipstation saves us so much time. it makes it really easy and seamless. pick an order, print everything you need, slap the label onto the box, and it's ready to go. our costs for shipping were cut in half. just like that. shipstation. the #1 choice of online sellers.
4:18 am
go to shipstation.com/tv and get 2 months free. only sleep number smart bed let you each choose your individual shipstfirmness and comfort. the #1 choice of online sellers. your sleep number setting. and actively cools and warms up to 13 degrees on either side. the queen sleep number® c2 smart bed is now only $990. plus, special financing. shop for a limited time, only at sleep number. ♪ ♪ ♪ ♪ ♪ ♪ here's why you should switch fo to duckduckgo on all your devie duckduckgo comes with a built-n engine like google, but it's pi and doesn't spy on your searchs
4:19 am
and duckduckgo lets you browse like chrome, but it blocks cooi and creepy ads that follow youa from google and other companie. and there's no catch. it's fre. we make money from ads, but they don't follow you aroud join the millions of people taking back their privacy by downloading duckduckgo on all your devices today. welcome back to "street signs." at least 48 people have been killed and dozens more injured after the earthquakes rocked western japan on monday. the quakes were felt after 4:00
4:20 am
p.m. local time with one reaching 7.6 magnitude. meagan fitzgerald has this report. >> reporter: this is the moment the earthquake struck violently shaking homes. residen residents grabbing on to what they could. people fled as food tumbled from shelves at this store. the quake sparking the fire in wajima. at least four people are dead this evening as officials are looking for more people trapped. the 7.6 quake, the strongest of several to strike the western region of japan. >> everybody was panicked. >> reporter: johnny wu shot this video in nagano where he was visiting to ksnowboard. >> you see the electric wires
4:21 am
coming down. >> reporter: soon after the earthquake, japan issued a tsunami warning with the initial fears of waves topping 16 feet and 100,000 people told to seek higher ground. that warning now downgraded, but officials are urging people to stay away for their own safety. it was the first major tsunami warning since the massive 2011 quake and tsunami that killed nearly 20,000 people. tonight, the nation now facing the aftermath of another powerful quake. tens of thousands are without power and roads in the region are cut off. this woman documenting the damage in her neighborhood. we're in serious trouble. s please come help us. >> aftershocks are rocking at magnitude 4.8 and 4.9. oil prices are moving higher
4:22 am
over global shipping tensions in the red sea. iran sent a war ship in the area as the u.s. and other countries continue operations to protect commercial vessels. let's bring in andrew kritshaw. andrew, happy new year. thank you for joining us on january 2nd. wonderful to get you on the show today. let me ask about the developments over at the red sea the last couple days and the fact that iran has sent a war ship to the strait. how significant is that in your view? >> it is another escalation. you know, a lurch toward a broader conflict to impact shipping in the region. this has all been triggered prior to new year to the incident that involved the maersk container vessel which was subject to a potential hijacking by houthi forces which
4:23 am
use small boats to try to approach the craft and they were intercepted by the u.s. task force there. maersk said it was postponing i its sailing through the red sea. we have seen a huge reversal in shipping going through the red sea and now shippers taking the cape of good hope option. it is a much longer sailing to get to market. it is set up for a disruptive start to the first quarter of 2024. >> you know, andrew, i think what surprised me when the disruption started happening about a month ago is we saw limited impact in the price of oil. initially, there was a spike, but it didn't last very long. we spoke to several analysts at the time who said it reassured investors. a lot of oil that goes through
4:24 am
the straits is oil from russia to india which tells you that there is less room for disruption because they will be less intimidated by the war ships there. for the reverse trade, oil going from asia to the rest of the world. again, you are not talking about a total supply disruption. you are talking about a supply delay. why do you think this time is different? why are we seeing reaction in the price of oil this morning? >> there's a number of things there. you are quite right to point out the flow and the direction of oil going through 8.4 million barrels of liquids go through that point. most of the saudi oil loaded on the saudi west coast is north of the trouble spot around the yemeni coast. you have the russian volumes that go to asia. you know, that has provided an element of insulation. i think the market is starting
4:25 am
to get more concerned now with the deployment of iranians to the red sea. that is modest compared to the huge u.s. naval presence in the region. again, it is the boiling pot scenario that is created around the red sea now. you know, that is factoring in with oil prices. we haven't seen a quote/unquote risk premium develop in the price of oil. brent below $80 a barrel. that is not to say it won't happen in the future. one of the interesting things we have done with the research is look at the attacks on the shipping in the middle east over the last five years since 2017. 143 attacks in total. that is a lot when you consider so much of the world's energy comes from this region. 19 attacks since the beginning of december on the arabian sea and red sea.
4:26 am
where is the risk yet? >> we are not seeing a lot of geopolitical risk premium with the number of attacks in the region. oil was down 10% in 2023. it is really tough to have a crystal ball and say where it will go in 2024. what is your expectation? i know the community has been bullish so far, but it hasn't panned out. >> i think one of the startling things of 2023 and problem bely something we don't talk enough about is u.s. production. you have to go back to 2008 when we saw u.s. production at 62-year low. now we're at record highs. 21.4 million barrels per day of total liquid production out of the u.s. that against the backdrop of oil production increasing outside opec plus which is 2.7 million barrels a day in 2024 according to the insights. you have a lot of supply growth coming on to the market at a
4:27 am
time when demand is hard to predict. you have uncertainty with china and the trajectory of central banks and will they continue to ease after fighting inflation? a lot of uncertainty. we are predicting prices between $70 to $80. >> andrew, thank you so much for joining me. head of news from s&p global commodities. we will take a quick break. when we come back, we will talk oute sckand the big trends for 2024.
4:29 am
4:30 am
welcome back to "street signs." i'm joumanna bercetche and these are your headlines. european markets pick up where they left off with all of the majors in the green and the st stoxx 600 hitting the highest level in two years. smooth sailing for maersk shares. they will put 30 container ships through the red sea despite the
4:31 am
latest houthi attacks. chinese factory activity acceleratess in december according to the private survey. business confidence lags as the beijing property and political tensions carryover into 2024. new year optimism spills over into cryptocurrency with bitcoin surging to the 20-month high. you are looking at live images right now from a plane that is on fire in tokyo. this is a japan airlines aircraft. nippon tv, one of the japanese tv broadcasters is saying it may have more than 367 passengers on board. japan airlines spokesperson is
4:32 am
saying there is an airplane in flames at the haneda airport. it carries over 300 passengers on board. japan coast guard is saying they are looking into possibilities its plane crashed with japan airlines flight in haneda airport. this appears to be a collision with the japan airlines flight and the japanese coast guard. the plane is in flames and there appears to be more than 300 passengers on board. let's look now at uk pmi data. the eurozone final pmi numbers come in for the month of december. the uk numbers at 46.2. slightly lower than the flashes estimate of 46.4. again, this is telling you these numbers are still lingering at a low rate.
4:33 am
anything below 50 does signal contraction in the space. we continue to drop from november. the november manufacturing numbers were 46.2. you are seeing a setback for the month of december. this is the reaction in the pound. not a lot today. the pound did have a great year in 2023 ending up more than 6% versus the u.s. dollar. let's take a look at european markets and how they are faring as a whole. with the exception of the ftse 100, every indices is trading in the green. ftse mib and ibex up 1%. we are seeing a bit of a bull b pull back in the last half hour. we have slipped in the last half hour of trading in response to the slightly weaker than expected final pmi numbers in the uk and persistently weak
4:34 am
numbers in the eurozone as well. as for fixed income, we saw a roller coaster with fixed income. the latter half of the year being a strong one. we are seeing the ten-year bund trading at six basis points higher. ten-year btp at 3.76 today. the similar move across the u.s. yield curve. two-year note at 4.3%. the ten-year note creeping higher up seven points to 3.94%. we did get two loads of below 3.8% over the christmas holiday period. over the last few days, we have moved higher in yields. this brings a question if the rally can be sustained into 2024. the s&p gained over 24% in
4:35 am
2023 posting its fourth positive year in five with seven tech stocks known as the magnificent seven driving gains. arabile joins us with the market moves. >> joumanna, 2023 was the year that expec expectation. that expectation for 2024 may look different. let's look back before forward. 20% gain for the s&p 500. a big gain when you consider in 2022, we did not see as big a gain. net is marginal upticks with the u.s. market. dow jones industrial average gaining 14% as well across the year. it was the nasdaq which was the big outlier. 43% gain an crocross the year.
4:36 am
i was speaking about what happens in 2024 and according to the cnbc exclusive survey, the top teams from major firms, state the s&p will end at 4,881 points. that is 2.3% higher than the close on friday. it does tell you that only marginal gains anticipated and not double digits. let's head to the tech sector and see how things fared across that one. these are the counters i have been speaking about. the magnificent seven and the others. nearly 50% for apple close for 2023. microsoft managing a 56% increase. amd and meta with a mere 200% gain for meta across last year. nvidia was the story of 2023. the chip and a.i. story really
4:37 am
occupied a lot of the market factors for 238% gains across the nvidia story for 2023. where did european markets trade and fare in comparison? stunning upticks. a lot of the gains from the financial services. big pharma and technology gaining 30% last year in europe compared to the u.s. which is a far cry. still managing to see upticks. the ftse 100 is gaining which compares to the double digits across the other markets. the dax at 25% and spain at a 23% increase. the u.s. dollar is not the best year last year. for the first time in three years, in fact, having had two years of gains and this is the
4:38 am
first time we saw the dollar lose somewhat more than 2% for the dollar index last year. the anticipation is, according to the analysts we've spoken to, that this year could see more weakness. we are anticipating a lower interest rate environment and inflation environment as well. bitcoin passing through $45,000 for the first time since april of 2022. that happened a little bit earlier today. that's a key metric to the follow on as well. 4.65% higher in today's trading. over a 12-month period, 123% gain for bitcoin. you could say things are going higher. joumanna. >> brilliant. arabile, thank you. chief investment officer has
4:39 am
revealed which should ride or hold. scan the qr code on your screen to find out more and subscribe. also on pro, check out the tech stocks for 2024 after the hot run last year with the rate cut optimism and the a.i. boost in the sector. we will talk more about that. let's give an update on the story from japan. we showed you images of the japan airlines plane that was on fire after colliding with a japanese coast guardi. we are now hearing from nhk, the local broadcaster, saying that roughly hundreds on board the airline plane have been evacuated. this is what we're hearing via
4:40 am
nhk, the local broadcaster citing japan airlines. they are saying reportedly hundreds of passengers on that plane have been evacuated. of course, we will keep an eye on that story. you can see those are images of the plane very much on fire as they try to put out the flames. you can see the fire engines there with a lot of smoke coming out of the plane. that is good news if the passengers have been evacuated. technology is becoming more of a driver in business than in the past with ten trends that d dominate the sector. our guest is john roy from tower research joins me. john, happy new year. thank you for speaking to us on january 2nd. i think the main question for tech as a whole, looking into 2024 where 2023 was a strong year with a lot of performance centered and exclusive to the
4:41 am
magnificent seven stocks and a lot of hype with artificial intelligence. do you expect us to get a rerun of 2023 in 2024? >> not exactly a rerun. good morning as well. i do expect it to broaden. a.i. will continue to be a very strong theme through the year. if you look back historically when the internet came out, it was not the builders of the internet that were the long-term winners, but the users of it. the users of artificial intelligence in a variety of business spaces that will be long-term winners. i expect it to broaden out. a.i. will be a huge theme for 2024. >> how do you be more discerning where the a.i. potential is here? you just mentioned you expect to see more users in the space. it comes down to how a.i. is used and what format and a proven use case and adds to productivity. all of these are questions we can't answer right now.
4:42 am
how do you advise investors to go about discerning the a.i. plays and which are successful in 2024? >> certainly you want to look at them solving classically appropriate business problems. if you find a pain point, solve it. you want to use a.i. in an innovative way. as an example, i have one company i'm looking at closely called a.i. ticker symbol a-i-d-r. we think of autonomous vehicles and they will eventually get here. you want to look at it solving a real-world problem and using it in an innovative way. you want a new business model to go along with it. google would be the classic example back in the internet space. it used the internet in an advertising in a new way. a.i. is similar here. that is what i look to see.
4:43 am
>> let me ask about cloud computing. that has been a major theme for some of the big companies. you talk about amazon and aws and when we look at the cloud numbers, it is posting positive growth. one thing the community has flagged is the growth or level of growth has slowed down somewhat. what does that mean for any company and the two that i mentioned in terms of their ability to continue to generate returns from cloud? is there a view out there we may be too optimistic of how fast computing can grow? >> that's a very good point. i do think you are naturally seeing things slowdown a little bit in terms of growth. you can only grow so fast for so long. there is still a lot of companies not necessarily in the
4:44 am
cloud globally. there are a lot of third world areas it wants to go into. that will be difficult to get them into the cloud than in the past with the tech centers of europe and u.s. i would suspect that growth there could slow. it could hurt their numbers. >> interesting. something to watch out for then. just before you came on, my colleague, arabile, had a look back at 2023. one of the surprising segments of the market was bitcoin. do you have a view on whether we will see a continued bull run in crypto and specifically in bitcoin going into 2024? to what extent do you think that is primarily driven by the general risk-on rally we witnessed in it the last quarter of 2024? >> the risk-on issue is there. there is a technical event which tends to be positive which will happen in the spring.
4:45 am
the other thing in the u.s., the belief the regulatory environment will clear up somewhat and that will enable investors to become more interested in the establishment of bitcoin as a more mainstream item. one of the companies i'm looking at is b-k-k-t. they build back-end systems for banks and other financial firms to handle bitcoin. it has a strong business model there. it is tied to the bitcoin trend. i do suspect those to continue to do well. >> i see that blockchain is in your 2024 trends. can you point to any industry that has been disrupted by blockchain, but in a meaningful way? in a way that has made the business a lot more efficient and led to a lot more -- again, we talked about this earlier, productivity? >> i think the major one you want to look at is cross border trading and cross border fx.
4:46 am
moving money in and out of currencies across borderss issig something that blockchain can help. >> john roy, managing director from water tower research with the trends for 2024 within the tech space. a story we have been monitoring the last 15 minutes. the japan airlines flight that was on fire at the japan airport and we now have confirmation from japan airlines. from the airlines saying all 379 passengers and crew on board the aircraft have been evacuated. that is very good news. looking at the pictures of the airplane in flames. it was very alarming. it is good news to hear all 379 passengers and crew on board the aircraft have now been evacuated. also coming up on "street
4:47 am
4:48 am
i was expecting to lose around 40 pounds and then i just kept losing weight, and moving and moving and moving in a better direction. with golo and release, you're gonna lose the weight. hi. i'm wolfgang puck when i started my online store wolfgang puck home i knew there would be a lot of orders to fill and i wanted them to ship out fast that's why i chose shipstation shipstation helps manage orders reduce shipping costs and print out shipping labels it's my secret ingredient shipstation the number 1 choice of online sellers and wolfgang puck go to shipstation.com/tv and get 2 months free the power goes out and we still have wifi and woto do our homework. and that's a good thing? great in my book! who are you? no power? no problem. introducing storm-ready wifi. now you can stay reliably connected
4:49 am
4:50 am
france has a key role to play in the calendar year ahead. fresh from the rugby world cup, it is hosting the summer olympics. charlotte filed this report. >> reporter: it is just months from the olympic games. nearly 15 million visitors will come to see 200 nations compete in 32 sports. de despite the olympic excitement, hosting the games can be a costly affair. t tokyo spent $30 billion. key to keeping the costs down, 95% of paris 2024 games will be based on existing or temporary
4:51 am
infrastructure. according to the university, the paris 2024 games could generate 11 billion euro in economic benefit and create more than 250,000 jobs in the paris region. seeking a lasting legacy, authorities are using the games to regenerate poorer areas in the capital. construction of the new athlete village after accommodating the le athletes this summer, the village will be turned into housing. several other companies want become partners with food products. the latest is lvmh will dress team france and design the medals. >> it is impossible for us not to be present for the celebration of the 100-year anniversary of the 1924 olympics. the ceremony will be amazing.
4:52 am
the games seem to be preparing really well. it was a no-brainer. of course, we like to be like a beautiful woman, to be courted, which we were. when we went on the date, we went and we were happy to do. >> reporter: for the first time, the opening ceremony won't be held in the ceremony, but the heart of the city on the river seine. athletes on boats allowing spectators to watch for free. iconic landmarks like the plaza and the eiffel tower will be transformed into venues and showcasing volleyball and break dancing. because of this, security is a particular challenge for this edition of the games. the french government says they are continually monitoring security arrangements. >> constantly adjusting them to
4:53 am
the best information coming to light that we have here. from day one, we want the highest standards in terms of security so that will to make a beautiful event, but an event that is profoundly secure is at the core of the foundation and work. >> reporter: in the middle the of the geopolitical times, france hopes it can offer the unity through sport. >> it is an occasion for france to send a positive signal to the world at a time when, you know, things are pretty complex everywhere. we want to welcome the world. we want to show a positive image of what we stand for with values and universal issues and inclusion. all of these battles and what we stand for is very important. >> reporter: with these ambitions and challenges, there is still a lot of work to do for
4:54 am
the french capital to be ready to host the world's biggest event. the countdown is certainly on. it is not just olympics, but 2024 is the biggest year for democracy with more than 60 countries representing 4 billion people set to hold elections. silvia joins me on set. we know the big ones. uk and europe and u.s. there are plenty of others. amazing. >> it doesn't matter where you look in the world, there will be an election soon. let's focus on the three big ones first. no doubt, the u.s. election will dominate the political scene this year with voters heading to the polls in november. at the moment, it seems that the election will be fought between president biden and the former president donald trump. at the moment, when you look at the polls, according to nbc, it has seen the possibility of joe
4:55 am
biden has fallen to a 40% mark. that is the lowest while during his presidency. let's see how this evolves. there are court cases stateside. looking at what is happening in the uk, it seems we're approaching an election in the sense there is speculation of a vote earlier than expected in may. also important for us to focus because it might mean the end of 14 years of conservative leadership and across the channel in the eu, we have preliminary elections in june. i would highlight the question mark of how many more seats the far right will manage to get in the european parliament. joumanna. >> i guess as far as europe is concerned, the trail blazing figure is meloni.
4:56 am
how does that set for the year? >> and we are seeing further support for these kinds of parties. the question is what they do when they are in power. here we see a bit of a difference with european parliament and domestic politics. the domestically speaking case is they are main treamainstream. let's see. when you look at the polls, it seems nonetheless, european parliament is pro eu. >> silvia, we will have a lot of time to talk about it. so much going on in terms of the elections, but also from markets as well. we just ran through how markets were faring for 2023. it is the first day of trading for 2024. happy new year. that is it for the show. i'm joumanna bercetche. "worldwide exchange" is coming up next.
4:57 am
only sleep number smart bed let you each choose your individual firmness and comfort. your sleep number setting. and actively cools and warms up to 13 degrees on either side. the queen sleep number® c2 smart bed is now only $990. plus, special financing. shop for a limited time, only at sleep number. my name is ashley cortez
4:58 am
and i'm the founder of the stay beautiful foundation when i started in 2016 i would go to the post office and literally fill out each person's name on a label and now with shipstation we are shipping 500 beauty boxes a month it takes less than 5 minutes for me to get all of my labels and get beauty in the hands of women who are battling cancer so much quicker shipstation the #1 choice of online sellers go to shipstation.com/tv and get 2 months free ♪ ♪
5:00 am
it is 5:00 a.m. here at cnbc global headquarters and here is your "five@5." stocks kicking off in year record territory after the blockbuster 2023. we breakdown the biggest moves in 2023 and set you up for success in the new year. in japan, a developing story after a massive earthquake killed at least 48 people, the entire region in a standstill. iran stepping up the presence in the red sea and the u.s. sinks three houthi war
89 Views
IN COLLECTIONS
CNBC Television Archive Television Archive News Search ServiceUploaded by TV Archive on