it feels fantastic to say, the racing season is under way again. how about that? r.j. hampshire thrilled with his win, and jett lawrence, number one in the big class now. on behalf our entire team, thanks so much for watching the supermotocross world championship. a-1 is done, and it was good. welcome to "street signs." i'm silvia amaro. these are your headlines. in the hot seat. more than 173 737 max aircraft are grounded after the door is blown out mid flight sending airbus shares slightly higher. and yields pick up after a

strong u.s. jobs report after expectation of fed cuts. now tournurning to the cpi prin wall street. and saudi arabia cuts the crude deliveries to asia to a more than two-year low as producers wrestle with slow demand and tensions in the red sea and fears of an economic downturn. u.s. secretary of state antony blinken holds talks with officials in the uae and saudi arabia today before heading to israel as he seeks to contain the threat of wider conflict. welcome to the show, everybody. let's get straight to the top story today.

the u.s. federal aviation administration has ordered a temporary grounding of boeing 737 max 9 jets after a section on the side of the alaska airlines plane blew out mid flight. the order is expected to affect 171 planes and just in the past few hours, u.s. investigators say they have recovered a key missing component from the boeing 737 max 9 jet. i want to take you to some of the market action based on the story from the united states. as you can see here over in the frankfurt listing, boeing is down 8%. the pre-market tells us when markets open in the u.s., it will be a negative trade for boeing, obviously, because of the developments from the story over the weekend. in terms of other moves we are

expecting for the u.s. airlines, this is the picture pre-market. we can see delta airlines is expected to open lower. they are also impacted by the story. more importantly, united airlines is expected to trade lower by more than 2%. they are also one of the airlines that own some of the airplanes. that is translated into some of the market action. in terms of what we're seeing here in europe, airbus shares have moved slightly higher in today's trade. you can see here by more than 1.3%. we are seeing a little bit of positive trade for airbus being one of the rivals of boeing. in terms of the overall picture here in european airline stocks, this is the picture at this moment. we can see lufthansa and easyjet moving slightly higher at the

moment. it is important to keep in mind that some of the european airlines do not own the boeing jets. therefore, they are not having a negative sentiment from the story which has happened over the weekend. let's speak to arabile. arabile, you have been following the story. what are the details of this tragic story? >> in some ways, it is a lot less tragic than it could have been. that is the sentiment that the ntsb out of the united states has been pointing toward. the national transportation safety board. they tried to note how significant this deal would have been had it not been for the fact that the flight was still 16,000 feet with the door blows out which is a defect they are trying to assess. you note it has put forward an important component. yes, they are analyzing the

black box of the flight. really significantly, it is finding that door. what was the defect within it and they are trying to search over oregon to see the clear sentiment. competition is significant and key here. remember that they are still waiting, boeing, for the max 7 and 10 airplanes to get certification. they need to compete with airbus. they will put out numbers this week detailing how many planes they sold last year. it will still be higher than boeing. airbus will be higher than boeing for the fifth year in a row. it will not help boeing. after the situation happened, this was the note coming from the faa this weekend. ordering a temporary grounding of the max 737 9 aircraft. 171 of those would be grounded worldwide. remember it is alaska air and

united airlines that operate the max 9. turkish airlines and panama airlines and aero mexico grounded their jets for inspection. no european country operates these planes and the eu and uk adopted this just in case there was one around the specifications. what was the sentiment from boeing? they said safety is the top priority and deeply regret the impact of the event. they will ensure that they get their planes up to standard and will obviously require needed inspections of the 737 9 airplanes. alaska airlines coming out with the statement saying they made the decision to temporarily ground the planes pending the inspection and requirement to comply with the aead.

it is is meant to take fo four-to-eight hours per plane. in december, boeing had to i inspect planes for the loose bolt in the rudder control system. the 2018 and 2019 crashes which was the malfunction of some of the systems. having fixed that automated flight control system, one would have thought they would have been through the worse. it doesn't look to be the case thus far. silvia. >> the chair of the national transportation safety board said the investigation will take time. >> there is a lot of work that still needs to be done. structures wants to continue looking at the air frame and door structure and p thethey wa

take off the objects. they want to look at the aisle and look at how that functions in comparison to the left side of the airplane. our survival factors team will be doing interviews of the rest of the flight attendants in the aft of the airplane. interviews will take place. we look for maintenance records and repair logs. there is still a lot ofs information we need to collect. we have been on-scene for 24 hours. one day. we have a lot of work to do. this isn't going to be a one or two days and we're done. this could be weeks that we're here. >> to digest this story, we have john strickland.

he is the director of jls consulting. thank you for joining us, john. our first question and this is not the first incident with this aircraft, should we be worried about potentially getting on one of these flights going forward? >> i don't think we should be worried because the regulatory and safety regime we have heard referenced with this instance not least be the spokesman of the ntsb there is designed to protect our safety. we also saw that once this accident happened, unfortunately, happened without any injuries or fatalities, then alaska airlines took the decision to ground the fleet immediately. i think that was a wise decision to act with caution and as we heard there in the briefing, the investigation will take time.

the aircraft has to sit on the ground for that period of time, whatever it may be, so be it. safety has to be paramount of any of the situation. >> just outline for us a little bit in more detail how different this incident is from the others we have seen in the past regarding these specific jets. >> the 737 max did have extremely challenging period with the two fatal crashes which happened leading to a grounding. those two crashes were caused by the same reason, faulty software used in the cockpit of the aircraft for the flight control systems. many issues arose around the discovery of that being the cause or factor concerning the boeing procedures and boeing

corporate and many questions of the information given to pilots. we don't know all of the details why this panel came out on this different version, by the way, different version of the 737 max 9. it is different from the reasons from the two fatal crashes. having said that, we had to find what the problem was and put the aircraft right to come back to service as a reliable aircraft. there is a lot of rehabilitation and particularly for boeing, it caused a brief of trust and confidence in the company within the industry and travelers. they had to work hard to climb the mountain to get out of the situation. they will be mindful right now although this is a different accident cause and without fatalities to avoid going back down that track again.

we have the max family aircraft being a dependable aircraft with a good record since back in service. they need to make sure that is where they stay. >> you mentioned we shouldn't be worried about getting on these airplanes. what about the reputation for boeing going ahead? as we discussed, it is not the first time we're seeing issues regarding these airplanes. does boeing have a problem here not just with this specific aircraft, but regarding its own reputation? >> it certainly has to be completely focused on that. it has to ensure it does live up to the expected trust and confidence and reliability expected from boeing from a century of operation. that was more than tarnished by the two fatal crashes of max 737

aircraft that have been recent media coverage and discussions in the industry of quality issues with production line delays. they had a difficult period ramping up coming out of covid. overall, the challenges in the airline industry anthem d thems coming back from the grounding of the 737 max fleet. the ceo has been stating on a number of occasions he has confidence after going through that time. certainly, there is a degree of views of the company and reputation of the management of the company is key and that can only be managed by delivering a safe aircraft. >> help us understanding the next steps. we know that the investigation could take some time, but what can we expect once this probe comes to an end?

>> it is just difficult to say. we don't know what conclusions that investigation will come to. we don't yet know fully how many aircraft will be grounded or for how long. there is already a service disruption by the initial grounding coming from the u.s. federal aviation administration with alaska airlines cancelling flights as well as united airlines. at the moment, the number of aircraft covered directly by the faa grounding inspection order is limited from the fleet of max 9. that is because a small number of aircraft that are impacted. it depends if they have the deactivated door or plug door. alaska airlines has a plugged door.

not a functioning door. the door could be used in higher seating density aircraft. that applies to alaska. some airlines had a deactivated door. the inspection order doesn't apply to them. there is a lot of unknowns at the moment. >> what is the outlook for airlines? obviously, they went through a lot of issues during the pandemic and once people returned to normality, we saw a huge demand for flights. as you look at 2024, how do you see the sector performing? >> at the moment, the outlook is still pretty positive. 2023 was a good year for the vast majority of airlines. if you look at the european and u.s. arena to the extent in the gulf, traffic came back strongly. occupancy levels and load factors were very high.

as to passenger yields with the price levels and the combination of two delivered for the airlines. that will continue based on what airlines are telling us about the forward bookings at the moment. there are big geopolitical challenges affecting operations in some parts of the global airline network. so, too, economic headwinds with the slowdowns of economies and high fuel prices currently. there are the challenges in place, but at the moment, it i coming through strongly. in many parts of the world, capacity, although it is drawn substantially to or beyond 2019, pre-pandemic levels, coming back to the manufacturers because of the challenges with the deliveries from boeing and airbus. we have a grounding of an airbus-type aircraft, airbus 321

with the pratt & whitney engine. overall capacity in the market in many cases is pretty tight. if the demand levels from customers holds up to travel, compared to the tight capacity, then the outlook is strong in terms of the shortage of the capacity which pushes up prices. many unknowns can throw things off track in short order as we have seen by the geopolitical challenges. >> thank you, john strickland, director of jls consulting. for our full analysis and latest on what happened aboard the alaska always flight 1282, head to cnbc.com. coming up on the show, european equities slide after a strong u.s. jobs report while

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welcome back to the show, everybody. i want to take you to the market action in the equity session today. at the moment, the stoxx 600 is trading lower by .60%. this after the index ended last week down by .50%. what we have seen so far this year is really investors taking a moment to understand what should be the position going into 2024 after the rally at the end of 2023. let me show you as well how individual boards are trading so far this morning. at this stage, you see it is red across the board. the ftse 100 is down by .40%. over in germany, it is mostly a flat picture for the dax. here, we are tracking the latest from germany with the exports rise in the month of november.

however, we did see the numbers in terms of industrial orders coming in slightly below expectations. in terms of sectors, this is the picture at this stage. once again, negative picture across the board. we are looking at oil and gas which is down by almost 2%. basic resources is down by 1% as well. here are some of the negative sentiment which we will discuss later on in the show. it is dealing with the announcements from saudi arabia as well. we are tracking oil prices in the context of the geopolitical tensions in the middle east. i want to take you to the performance in banks. it is a flat picture at this stage. this is important because later this week we will hear from the major u.s. banks. they heare starting to report t latest results.

that will indicate as well what we can expect over here in europe when banks also report later in the quarter. i want to take you to the corporate developments that we are monitoring this morning. bp investors want bae chief executive charles woodburn to replace bernard looney according to sky news. it says several large investors view woodburn the obvious candidate with the success at bae and the past experience in the oil sector. it is not clear whether woodburn would be open to an offer from bp or whether he has been formally approached. i also want to take you to shell, another oil company we are monitoring this morning. the company flagged impairment charges as high as $4.5 billion as it issued an update with

fourth quarter outlook. the quarterly integrated gas rating and optimization is seen higher for the quarter. this is how shell is currently trading. down by 2%. i want to take you to how u.s. futures are at this point. in terms of the s&p 500, the implied open suggests it will be a negative start to the session. the dow jones industrial average also and nasdaq pointing to a negative start. it is shaping up to be a busy week on the earnings and data front. in the uk, we have retail earnings from centuries and jd on wednesday. u.s. jobless claims are due thursday along with u.s. inflation data and chinese figures the following day. that's before earnings season kicks off on wall street with the big banks first up. let's discuss some of this

market data and the earnings as well with our next guest. he is roland. good morning. thank you for your time, roland. i want to start with what the wall street is doing for the eur european banking sector? >> there is an impact with the sectors. of course, the u.s. is always reporting there. this is true for any sector when we have some reporting positive or negative coming from the u.s. even if european companies have not yet reported, the impact

would be clearly immediate as the market will try to look through what is going on. i think all eyes will be on u.s. financials. it is a sector that will give us a view of the u.s. economy and where we stand with the quality of credit. that will be a really big issue and scrutinized by the markets. >> i would like to get your thoughts as we just started the new year. what sectors do you favor going into 2024? what should be the play for investors? >> we are going defensive to be honest. we think the market is pricing in a goldilocks scenario. you remember at the end of 2022 and we look toward 2023, the market was anticipating bad news

because of the monetary policy tightening from several banks and putting aside the back of inflation on earnings and profit. i think we are doing a bit the opposite. the market is really, really excited about the numbers from central banks. and that gets the market to six. clearly, the market anticipating good news on that front. with inflation going lower and growth going lower, we should see negative impact on earnings. we see a defensive approach in our portfolios. >> also i want to look at the

las last data. we have inflation figures on friday. how are you reading this data and how essentially are they likely to impact european equities this year? >> what is very important to keep in mind when you are investing in europe is that the mandate of the ecb is from the fed. the fed is focusing both on inflation and job markets. the ecb only mandates price stability. we can have weaker numbers. pmi can be weak, but we need to see big changes in the ecb monetary policy. it will be the inflation prints. as we are seeing both ecb targets, we think that is too early to anticipate that from the european side.

i think that is something to really have in mind when you invest in europe. focusing more on inflation data rather than cyclical data. >> based off that, when you look at the different boards in europe, which countries are more attractive at this stage? let's look at germany versus france for instance. does any look positive for 2024? >> well, it's a difficult call. i think that's too difficult to call with the sectors. you mention two markets. the cac 40 on one side and the dax on the other. you have to see sector bias on one side and on the other side, you see the automotive sector which are exposed to the china story. i think, overall, the index that

will be the most under pressure this year could be italy. you know, the ftse mib has done a fantastic year in 2023 being the best performer. we saw that with the valuation and the fantastic italian market with the rest of europe. for one example to have in mind is italy and the ftse mib is very, very positive to europe and the view on europe. i would say that i don't know what would be the winner between germany and france in terms of the stock market, but we clearly need to be cautious with italy. >> i would also like to get you. we saw the surprise announcement from china which led to negative

moves for stocks in europe. what do you think of this? is this a risk with geo politic given the elections we're having? >> clearly, the geopolitical situation is still a risk to factor in. you have the risk in the middle east. the risk coming from china and you mentioned the elections and in the u.s. this year. this is clearly a year where we see a lot of risk to manage. an gain again, that is more positioned into the different sectors rather than go for the cyclicals. >> roland, we have to leave it there.

thank you for your time. that was the head of the european equity strategy at soc gen. coming up on the show, glass half full or dpglass half empty? eu and china relations are front and center. more details coming up next.

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welcome to "street signs." i'm silvia amaro. these are your headlines. boeing declines in the pre-market trade with more than 177 737 max aircraft grounded after the door blows out on the alaska airlines flight. european markets sink while bond yields pick up after a strong u.s. jobs report tapers expectations of fed cuts. with attention now turning to the thursday u.s. cpi print and start of earnings season on wall street. saudi arabia cuts the price

of the flagship to a more than two-year low as producers deal with slowing demand and tensions in the red sea and fears of the economic downturn. and u.s. secretary of state antony blinken holds talks with officials in the uae and israel as he seeks to contain the threat of the wider conflict. i want to take you to some of the moves in the u.s. futures so you understand how markets are expected to open stateside. at this stage, you can tell based on the screen that it is going to be a negative start to the session on wall street. this as we approach the very important cpi print on thursday. this terms of how european markets are faring so far in the

session, we can tell it is a negative mood over here in europe. all of the major indices moving lower currently. i want to take you to the action in the bond market. we are following that closely. at this stage, you can see the ten-year bund is currently trading at 2.17%. similar moves across the imagimajor bonds in europe. this as we digest eurozone inflation which was out last friday. we are looking ahead to some more important data and including this morning with trade export figures from germany. i want to take you to other european stories. the european council president charles michel will step down to

run for mp. if no successor is called, viktor orban could temporarily fill the presidency. let's see how this will pan out in terms of the eu/china relations which are strained a after the beijing brandy imports which was retaliation for the bloc probe after the surge of the chinese electric vehicles into europe. i want to discuss the tensions with china and the eu with our next guest. the visiting senior fellow at the german marshall funds at the united states and rhodium group. good morning. how much of the latest probe

from china is related to the ev investigation that the europeans announced a couple of months ago? is this really a retaliation? should we interpret it as that? >> yes, i think it is pretty clear this is a response by beijing to the ev investigation that the commission announced back in september and formally launched in october. it is important to knonknow tha fra france was the driving force of the investigation. there was concern in paris that china would retaliate against sectors where france plays a major role. that's spirits and luxury goods. that's what we have seen. this is a warning from china that if the ev investigation results in duties imposed on chinese evs, then china will

respond. >> now we know there are rumors in brussels that they could open with wind and solar energy. i wonder if this latest move from china makes it less likely that the european commission will move ahead with similar investigations. >> that's right. the commission has signalled there are other steps it could take in addition to electric vehicles. there's huge concern in europe about overcapacities in certain green technology sectors, including wind and solar flooding the european market. the european commission president has spoken at length about this. i think the european commission will move ahead with these investigation s if they have th

evidence, then they will announce them. i don't think this dissuades them from doing that. this is a warning sign that china can and will respond. >> so how do you see the european/china relationship at this stage? obviously, that could have implications for the european economy given how big the trade links are. how would you characterize this relationship? >> the relationship has been certainly deteriorating for the better part of half a decade. a lot of concern in europe about china's position on the war in ukraine and the no limits partnership that xi jinping clinched with vladimir putin before his invasion of ukraine and this relationship remains strong. the concerns are moving from the political realm into the

economic realm. huge issues with the european competitiveness particularly in green technologies like green vehicles. my sense is the trade tensions will deepen this year. i don't think either side has an interest in allowing them to escalate too much ahead of the u.s. election. they want to see who becomes the next u.s. president before any trade conflict. >> this is the election year. so many elections all over the world. we are keeping a close eye on the u.s. election. how could that actually impact this relationship between the eu and china? >> well, we have to see. if donald trump becomes president again, i think the expectation is that he takes a more confrontational trade stance toward europe and china.

could that push europe to soften its approach to china with the logic of opening two major trade fronts with china and the u.s. is too much? we have to see. i don't think it necessarily leads to a major softening of the europe's approach to china. i think it is a big concern in europe at the moment. >> i want to look more closely to maemmanuel macron. he will be receiving the chinechinese president in paris in the next couple months. the french relationship with china is seen as what type of relationship? >> it is seen through strategic

autonomy. france is a big advocate of europe becoming an independent polar power with u.s. and china. that means not siding too much with the u.s. and not siding too much with china i think france is looking for this balance. i think other countries in europe have a different view on this. for example, germany's position on china has been toughening, but this visit by xi jinping is interesting. we don't have a confirmed date on this. it looks to happen in the spring. after macron traveled to beijing last year and said things that were very concerning, specifically on taiwan, i think everybody in europe and beyond will be watching this visit closely. >> in particular that language as well. thank you so much for your time. that was knonoah barkin.

senio senior adviser at the rhodium group. and citi named nine stocks that would be boosted by artificial intelligence. giving one firm 60% upside potential. that story is on cnbc pro. scan the qr code on the screen now to find out more and subscribe. also on pro, skylar capital ceo identifies what he believes are top opportunities for retail investors in the energy space. as the investors turn to the central bank easing. that is one of the most important stories for 2024. coming up on the show, antony blinken touches down in the uae as israel and hezbollah exchange fire. we will look at the diplomatic efforts to prevent a wider conflict up next. what is cirkul? cirkul is the fuel you need to take flight. cirkul is the

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the lowest level in 27 months. this comes as the country faces weak demand and increased competition from rival suppliers. u.s. secretary of state antony blinken arrived in the uae and continued his tour of the middle east to prevent further conflict in the region. we have dan joining us now. i would like to ask you to give us an update. we have seen so much action taking place in the middle east. what is the latest and what can we expect from this visit from antony blinken? >> reporter: silvia, secretary blinken is back in the region flexing a diplomatic muscle. the administration is trying to calm tensions and stop the israel war against hamas from evolving into the wider regional con

conflict. over the weekend, we saw aggression after clashes with hezbollah on the northern border. we have seen rebel houthi attacks on the ships in the red seaundermining global supply chains. the secretary is using this trip to diffuse tension and try to stop the spread of the cwar and get aid where it is needed most. >> this is a moment of profound tension in the region. this is a conflict that could easily metastisize. from day one, we have been focused on working on the conflict from spreading. that is the focus of my fourth

visit. >> reporter: secretary blinken has been meeting with leaders in jordan, including king abdullah who has been playing a lead role to protect civilians and provided more aid to gaza where millions of people have been displaced and 22,700 people have been killed since the war began. what we are seeing as wellewell at this juncture, zsilvia, we have seen international pressure rising on israel as the onslaught continues. the foreign minister spoke to me this morning saying that it is extremely important that the u.s. deploys the diplomacy to convince israel that it is time to cut its losses in gaza and have a realistic exit strategy. that seems unlikely at this

point, particularly with hostages in gaza still hanging in the balance. secretary blinken, we know, has been meeting with qatari officials to get the negotiations back on track. efforts have stalled after the israel strike in beirut that killed hamas leaders. the issue of hostages is front and center in the battle and the onslaught continuing as the american officials are growing concerned about. >> thank you, dan. we will see how these efforts will actually pan out. let's turn to the developments in the united states. congressional leaders from both u.s. parties have announced an agreement on an overall government spending budget of $1.6 trillion in 2024. as the country looks to avoid a partial government shutdown on january 19th.

lawmakers still need to work out the details of cut backs, but republican speaker mike johnson hailed the agreement to cut an additional $10 billion from the internal revenue service and clawback more than $6 billion of covid relief funds. a very important story to monitor and keep in context of further aid to ukraine. it is a week until the first contest of the 2024 presidential race in iowa. we have nbc news drew petrimoux. outline what we can expect and how important these events from iowa. >> reporter: the first contest is very important. it is right now the countdown to the caucuses in iowa. the republican candidates

crossing the state making the final pitch to voters. the candidates are chasing donald trump. he is the frontrunner in polls. they are trying to steer voters away from mr. trump. mr. trump on the campaign trail in iowa over the weekend calling for release of january 6 prisoners calling them hostages. president biden is actually heading to charleston, south carolina today. he will be speaking at the mother of emanuel church. this is biden's push to focus on trump's actions after the 2020 election. trump is expected to be in court here in washington, d.c. tomorrow. his lawyers are set to argue he is immune from prosecution over the 2020 election. that argument was rejected by the federal judge and now will be heard by an appellate court.

the case could end up at the u.s. supreme court. >> thank you, drew, for keeping us up to date with what is going on in the united states in a year that is very important to understand how voters will choose and vote in the very important election. i want to take you to the market action as we heapproach e end of the show. here in europe, you can see it is mostly a negative picture across the board. obviously, in the context of this new year and the fact that investors have decided to take a little bit of a pause after the rally at the end of 2023. over in the u.s., futures point to a negative start to the trading session as well. for important to keep in mind we get the cpi print on thursday and the big banks reporting on friday. that will be important for us in the context to understand what

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it is 5:00 a.m. here at cnbc global headquarters. here is the "five@5." stocks off to the worst start of the year and pointing to more losses at the open. and investors say they found the missing door plug that fell off the max 9 jet that made an emergency landing over the weekend. in washington, republican and democratic negotiations reach a deal on u.s. spending levels ahead of a possible government shutdown this month. and plus, apple coming off

another roug