he always a part of me. but, it's hard. craig melvin (oc): that's all for this edition of dateline. i'm craig melvin. thanks for watching. good morning and welcome to "street signs. i'm joumanna bercetche. >> and i'm silvia amaro and these are your headlines. business activity falling at its steepest pace in four months while germany's key manufacturing sector shrinks for the seventh straight months. basic resources post some of the biggest european sector gains after the chinese business

sector announces a big surprise, cuts to the rrr. european earners top the stoxx 600 after a revealing of a plan set to impact around 8,000 staff, but the cfo says it neats more people, not fewer. >> we're needed to enable more for not only our internal company by the customers. subscribers surge and experts top expectations while the streamer makes a $5 billion move into live sports signing a 10-year deal with wwe. ♪ well, good morning again,er

about. a very warm welcome from myself and sylvia we have the ecb to watch out for tomorrow there's a lot of data the market needs to get through speaking of, we're just getting the january flash pmi numbers. we had germany and france coming through a short while ago surprising to the downside so those two big countries within the eurozone, those numbers have come in lower than expectations, which means what has happened at the aggregate level is a little bit interesting because if you take it in the context of the numbers that came through from germany and france, you would think that the overall number would also surprise to the downside instead what we have got is a slight improvement at an aggregate level. so what we have is the january number that's come in at 47.9. the december number was 47.6 we're moving in the right

direction. it should be said this composite number is still lower than the flash estimate of 48 so even though we're seeing a slight improvement at anning a fwre fwat level, it's still below 50, which is the line between expansion and contract for business activity and lower than expectations. but what is also interesting is both germany and france as i mentioned earlier did surprise to the downside. as far as the french services numbers are concerned, eight months of consecutive construction, contraction for germany. what we're seeing is the compliment numbers for consecutive months even though there are signs of improvement, business numbers are still very, very subdued we're seeing the market's reaction euro a little bit but namely in fixed income today bond yields are 4 to 5 points lower in reaction to the numbers

that have been coming out. let's bring in our experts let's just start with these pmi numbers. disappointing, i would say, versus what the market was expecting specifically for germany and france what do you think this does to the ecb's calculus into the meeting tomorrow >> yeah, first of all, indeed the overall environment is still very charging. we've had third quarter gdp growth negative and we'll get third quarter numbers soon and it might be negative we see the headwinds from now increasingly tight. the environment is really holding economic activity back for the ecb, it means the faction coming down further from here so far the disinflation process has been faster than

anticipated. it's too early to cut rates. i think this week on thursday the ecb would have an interim meeting. we should. expect any policy decisions, but it will give the ecb an opportunity to look at the latest data, sentiment data. it would be a bridge, this week's meeting, toward the more important meeting on the 7th of march when they will once again indicate the forecast. >> the december meeting was an interesting one. i know that many became a lot more dovish after that meeting i know you yourself also changed your call, now calling for an april rate cut it was june before that. how confident are you feeling about that april call at this point, especially what we've heard the last couple of weeks and also lagarde's comments in davos that actually they can't be expected to be more patient than the markets are

expec expecting . >> we said we did not make this change from june to april in a wholehearted fashion it was a somewhat reluctant change, reluctant attitude in the change why? the ecb said the development of wage growth over the spring of 2024 would be very important for their own assessment of the situation, and the meeting in april, on the 11th of april, at that time we will only have partial data on wage development. so we said the ecb will have to perform some sort of leap of faith. they'll have to give the data -- very limited data the benefit of the doubt and take some risks, but now indeed with the hawkish commentary, we have signaled that the risk to our call that the first cut would already come in april has certainly increased. >> what are the rinsks to that

call we could see it translated into higher consumer prices going forward. when you look at the next two to four months, what risks do you see as potential risks >> first of all as discussed, the wage developments, labor market developments are absolutely crucial but you said it as well, distortions to trade or high oil prices are very important. normally when you have these sorts of external shocks, they would look through the sort of shocks because the external shocks, they do not really have a proinflationary impact over the longer term. normally you would look through this however, given that the ecb has lost a lot of credibility over the last few years that inflation has shot so high it makes it hard to look through the shocks at the moment it would make the monetary policy more hawkish and delay the first cut.

>> we're also awaiting pmis in just a couple of minutes i was wondering what are your thoughts when you think about the boe which is due to meet next week and how does that compare with the ecb for 2024? >> so in december it was interesting. the pmis in the uk actually went up, whereas in the eurozone we went sideways or down. we noticed this positive change in december. let's see how this continues in january. but overall if we recall in december, the bank of england had a hawkish hold they held rates, but three members were voting for an increase so in our view, the first cut will come in may from the bank of england, but we said there's a clear risk it will only happen in august. >> let me go back to the ecb and what we got in the january numbers. we've still got the february, march, april numbers to get

through. at what point do you think their shift is going to focus toward growth as opposed to wage signals, inflationary pressures, and really start focusing on the inflationary outlook that's facing the eurozone right now? >> the ecb has only one target, and that is inflation. you're correct growth is very weak. but the crucial question is always what's the disinflationary impact of weak growth they need to see the risk rate is really coming under control and what is new and what is different in the eurozone is that labor markets despite weak gdp growth are very, very tight. we have unemployment at a record low. that means wage growth is still somewhat elevated, and therefore despite weak gdp growth has to be more conservative a weak gdp growth means a weak

labor market. >> definitely an interesting time for monetary policy right there. let me take you to some other market developments this morning. the chinese central banks will cut the banks' reserve requirement by 50 basis points by february 5th. the move is expected to see up to 1 trillion yuan liquidity into the market. you can see the end of today's session up by about 3.5% this is after actually the hang seng already posted their biggest daily gains this year on tuesday. so a little bit of positive momentum over in hang seng -- in the hang seng index. when it comes to the sectors picture, this was the spread, and, indeed, we're not just hearing positive comments from the chinese authorities in terms of additional stimulus, but

there was also other developments in asia that we have been monitoring over the last 24 hours including the bank of japan meeting, joumanna. >> so much to digest coming through the asian session. i want to pick up the important move out of kre b withe ecb rrr. a lot of sectors are seeing a big boost on the back of the announcement but as we were highlighting at the top of the show, the focus for european markets is still very much the flarn flashpoints we're seeing an improvement but it's below the line of contractions and expansions. as for the stoxx 600, well, taking its cue from how the s&p

has been doing, the s&p seeing its third record high in a row stoxx 600 this morning also starting off very strong footing, up 0.7% a lot of green on the board. in terms of the boards, this is what we have. every single one of these is trading nicely in the green. the dax up 0.8%. siemens energy, huge jump today after a big surprise upward trend in their first quarter revenue. so that has taken the market positively for a change, given some of the price action we've seen with siemens energy over the last six months. s&p toward the top of the dax this morning, close to a record-high.

zet cac 40 up 0.4%. a good rebound given how they were shaken down at the earlier start of this year the ftse 100 up a tenth of a percent. in terms of sector, this is where leadership is coming from. tech up 3.3% we're seeing a huge bounce as i mentioned in s.a.p. today. and even the telcos and insurance, the defensive parts of the market are also posting gains today up about a tenth of a percent. let me zone in on what's been happening with asal, the chipmaker, the company backed its outlook after the fourth quarter earnings beat its estimates. on an annual basis asml rose

from 2023. however, the dutch manufacturer warned exports would affect up to 15% of sales to china this year that being said the stock is up and that's why it's doing so well. siemens energy, the company posted an almost 13% rise in first quarter revenue, topping expectations as the power equipment maker looks to recover from a crisis in the wind's energy sector. order intake was up over 23% following months of negative news for the group with a spokesperson saying we're on the right track, but no more and no less siemens energy, up almost 9% today, but still you can see there's a very long way for it to climb to get back to levels we were back in the summer before all of the issues within the wind unit started to arise. and continuing on the theme

of the tech sector, s&p shares up more than 6.6% hitting a record-high after the german software company considered a restructuring plan that will affect about 8% of the work force. they revealed a smaller than expected 20% growth in full year revenue at its key cloud business to 13.7 billion euros but forecast a pop in 2024 as much as 17.3 billion euros. now, speaking to steve and arabile spoke about why introducing ai should. have a big impact on head count. >> the head count will be leveraged. we can come to a higher operating leverage with these tools, but we also need to

produce heavily. we have 130 use cases for our customers, and that kind of repository has to you and we have to make sure it's extreme ly available for our customers we have to look at it internally but also for our customers. coming up on the show, donald trump claims another victory. we'll have the details up next shipstation saves us so much time it makes it really easy and seamless pick an order print everything you need slap the label on ito the box and it's ready to go our cost for shipping, were cut in half just like that go to shipstation/tv and get 2 months free what is cirkul? cirkul is the fuel you need to take flight. cirkul is the energy that gets you to the next level. cirkul is what you hope for when life tosses lemons your way. cirkul, available at

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with qualifying internet. let's turn to the u.s. political scene. the former president donald trump claimed his second victory for the presidential nomination. he defeated north carolina governor nikki haley she won the majority of primary voters who ascribe themselves as independent while trump won just under 75% of voters who identify as republican. nbc's brie jackson joins us from

manchester, new hampshire, now with more. brie, good to see you. what is the feeling there that it's inevitable tup will be the gop candidate. >> that's right. there is a feeling this brings donald trump one step closer to a rematch with president biden now that he's won the presidential primary nikki haley is not backing down despite her loss she did not sound defeated during last night's event when she spoke with supporters. during that speech she stressed this race for the republican nomination is far from over, however, during his speech last night, president trump said he believes it's time for haley to unite the party by leaving the race meanwhile on the democratic side

president biden did win here in new hampshire despite being a write-in candidate his name was not even on the ballot partly because the democrats had made south carolina the first sanctioned primary. so his name was not on the ballot here. but during an event yesterday, president biden warned about what's at stake in the 2024 election here. he really made an issue about abortion access saying that's going to be one of the key things that will drive his supporters to the polls. so we're already seeing this matchup possibly line up where you're going to have former president trump and president biden going at it again, but bottom line is nikki haley says she's still in this race, she's not backing down her plan is to stay at least until super tuesday. and both republicans and democrats now have their sights set on south carolina, which will hold primaries in february. >> brie, jo joumanna here

of course, nikki haley was a governor in south carolina before, so that should put her at a natural advantage versus her rival former president donald trump, and yet you look at the polls, and even within south carolina, trump is about 30 points ahead of nikki haley to what extent do you think south carolina could be a pivotal moment for the rest of her campaign and could it be a signal for her to pull out before super tuesday if she doesn't perform well there >> reporter: that's something people are keeping a close eye on despite her being governor of south carolina, former president trump is polling much better the thought is he could actually have a blowout win of nikki haley in her own state, but the key here is she does plan to stay in the race, and part of that is i talked with other political people about this. the part of that is that the

rationale behind that is that because of former president trump's legal troubles, this is still a race for delegates so if nikki haley can continue to pick up delegates along the way, there's no telling what could happen over the next couple of months heading into the republican convention, keeping in mind that former president trump has a lot of legal battles that he's still fighting >> very clear. brie, thank you so much for the updates. brie jackson from nbc news there. now, elsewhere the turkish parliament has voted to approve sweden's application to join the nato alliance after almost two years of delays and negotiation. president erdogan is expected to sign off on the ratification process in the coming days, leaving turkey as the sole holdout. he's contacted budapest for

negotiations once again swhe's the holdout. >> when it comes to the exception of swedish to nato, i spoke to a nato official earlier this morning it feels like the process is moving in the right direction. the key question is what will it take to get hungary's approval according to that same official at this stage, it's very unclear, we don't know what it will take for hungary to say yes, joining the alliance. from the swedish perspective they've been very clear they've done all it takes and it's up to hungary to finishthis process, but there's also officials who have suggested it's a little bit quid pro quo in these processes. >> why did erdogan change his mind >> he hasn't technically changed his mind in the sense he has not said they're not approving this succession they say they need more time, they need to talk about this also in the context that the

hungarians feel that in the past swedish officials have made critical comments of hungary, that sometimes they don't follow democratic values and that has hurt the hungarians. so that's been the main message from the hungarian side so far but let's see. >> fascinating at least as you say, it's moving in the right direction. now, onto some banking news, commerzbank ceo has dismissed suggestions of a possible merger with rival deutsche bank his focus is on keeping the bank independent, adding that it's in the best interest of its customers. there's a suggest the german government could look to raise money by selling its 15% stake in the lender. the german regulator has warned they should set aside some of its earnings to build reserves he said after a strong 2023

german lenders should now focus on building stability and security. >> it's been digested in the banking books, and actually 2023 ends as an extremely profitable year for the banking sector because they profited from the rebuilding interest margin and not passingering onto the clients, but the difficulties that come from the rate environmental and the climate sector, whether that's in the rae sector or the real economy, that -- we haven't seen that flow through yet so i think 2023 was a rather special year it won't be easy to repeat the profitability of '23/'24 they have to look at not only letting the shareholders profit from the good year they've had, but put aside the costs that are

coming because they will come. >> i found it particularly interesting in 2023 we were talking about recession, a looming recession or willing board in a recession, and at the same time the banks don't really increase their loan loss provision. is that something that's going to happen now in this year >> yes we think that's most certain we also say at the end of 2023 as well we're seeing things happen in the commercial real estate market which we maybe predicted for a long time, but we're now crystallizing. as i said in 2024 and the years after, they're not going to be as interestinged a 2023. keep the powder dry. make sure there's enough left over to invest in the security and stability on the operational s side defending yourself from cyber attacks doesn't come cheap. also coming up in the show, a strong day for european equities with german dax leading

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welcome to "street signs." i'm joumanna bercetche with silvia amaro and these are your headlines. there are 50 basis point cuts to the rrr. the euro hit as multi-month low against the pound after a gloomy data across the block european earnings top the stoxx 600 with s.a.p. shares touching a record-high after the firm reveals a structuring plan. netflix mania takes hold subscribers surge and revenue tops expectations while the streamer makes a $5 billion move into live sport, signing a 10-year deal with wwe. ♪

well, it's january pmi day we have just got the flash pmi data coming through from the uk, this one in contrast to the eurozone data we had half an hour ago has surprised to the upside so the composite number has come in at 52.5 that is above the consensus of 52.2 it's also a move higher from where we were back in december at 52.1. definitely moving in the right direction. i can't really say the same about the eurozone flash point numbers that came out earlier on in the day, but you can see we're seeing a bit of a reaction up half a percent. just in terms of the breakdown between services and manufacturing, the flash services pmi print came in at 53.8 an improve management from november the manufacturing print came in at 47 pchblt 3pchblt.3 versus 42

an improvement in manufacturing. to bring in some comment, business activity and manufacturing are being driven by hopes in 2024 due to the prospect of falling inflation and lower interest rates but they're adding further ther commentary saying the surprising growth in january may help with cutting interest rates as soon as many are expecting. that could ultimately reignite inflationary fears especially as supply disruptions in the red sea are rising as well it's much better than what the market had been anticipating for the uk economy sylvia. >> let me show you how european markets are faring at this stage. we're now into the equity session here in europe and this is the picture pretty positive across the board. we have seen a lot of volatility

when it comes to european stocks this week. we started the week on a higher note then on tuesday the stoxx 600 actually ended the session down by almost 0.3% but today here we have its quite a lot of green across the board. i would high light the ftse 100 up by 0.3% at this stage on the back of the pmi data over in france, the cac is at 0.5% and the dax up by almost 1% there's a lot behind these numbers including some of the corporate releases we outlined earlier in the show. i wanted to take you to some of the action when it comes to fx we're also monitoring that quite closely, not just the pmi data but in the complex of the upcoming central bank meetings with that in mind i would

highlight the euro at 1.08 we'll see how that trade continues tomorrow as we hear from the ecb when it comes to cable. we see the pound moving higher against the u.s. dollar by 0.5%. perhaps some of that positive momentum we just heard from joumanna in terms of pmi numbers, perhaps driving some of these moves. when it comes to european yields, another one we're monitoring quite closely amid all of the central bank bonanza we're about to watch, we're seeing yields at this stage moving slightly lower. we have the yield on the german bund at 2.3% we have seen, however, that european bonds have actually drawn quite a lot of attention from investors recently with some of them trying to catch on the higher yield before we see potential changes to monetary

policy, joumanna. >> i think what's interesting about the price action this morning and fixed income, sylvia, after the pmi prints, the uk market is the only one who hasn't joined in on the rally. you have seen the bund down 4 basis points today where the 10-year yields are basically looking flat this as i was bringing you the data, given how strong these pmi numbers came in, it might actually cause some market participants to dial down their expectations of the bang of england, cutting interest rates. that's clearly going to have ramifications on the yield curves, which is what we're seeing this morning. but in other corporate moves as well, puma shares are lower currency adjusted sales rose 6. 6% for the full year, but the company warning it took a hecht because of the argentine's pesos value. that's interesting

it expects midseason sales growth in 2024 i did not realize argentina was such a huge growth for puma. down 6% in trading. alstom confirms targets after a sales rise its shares lost half their market value alstom says its asset program is still underway that could net up to 100 euros but could shorten its debt by 2 million by next year easyjet says it expects to post lower losses for the first half overall the airline posted a $14 million pound hit from the mid east conflict but says summer bookings appear to be building well that stock is up almost 5% in trading. a lot of corporate news to

digest alongside pmi numbers let's bring in our next guest. it's wonderful to have you with us it is interesting today on a day where those pmi numbers have disappointed for the fourth time in a row that european markets actually don't really care they've brushed it all off the stoxx 600 is up 0.7% already. w we're seeing a reaction already. do these pmi numbers not really matter for the macro investor -- sorry, for the index investor? >> it's driving the rally to continue so dax and europe is outperforming much more. they have a high rating. pmis do mat ear. last year europe was in a more difficult situation where

inflation was high pinks are getting better but at a very gradual pace. if you remember back in december as well, the preliminary data for december pmi was disappointed but in january it got higher that drove a bit of an upside. but today markets are inflated by earnings. >> it feels like q4 was a reluctant rally. how do you think people are positioned now going into 2024, again, with the prospect of these rate cuts? >> i think the most important aspect of positioning is lack of interest it's lower than it has been in the past few years mainly because the short investors are gone loss position remains very, very low. >> interesting so it's not that people are

long it's just the absence of shorts. >> absence of shorts some strategies are long it has flat lined, so they should unwind sooner rather than later, but, yes. discretionary flows are close to five- or six-year lows god news is good news. bad news is bad news i would like to get your thoughts also on where you think we're likely to see a consolidation when it comes to the banking sector because recently we have seen more rumors that perhaps wthat's what's going to happen in europe. >> for the banking sector for 2024 the reason why is this is one sector still trading at recessionary multiples

if you look at valuation for banks, we're similar to where we were in 2020, 2011, 2008 the sentiments are still discounted conviction is lacking right now in europe. once that gets better, then we should see banks outperform particularly in terms of consolidation. i think given the valuations are so attractive, consolidation is always challenging in this space, but some headlines are there obviously and it's hard to comment on that. >> what about as you look at equities in 2024 >> i think one of the risks is oil and gas sector over the past three months when equities have been up 15%, oil and gas sector is down in europe, which for us looks -- makes not a lot of sense given oil prices have been fairly resilient.

so upside is relatively flat i'm afraid we have to leave it there but thank you for your time. that was the head of equity and derivative strategy for europe at bnp paribas. coming up on the show, we'll look at netflix which smashes estimates in the fourth quarter. we'll have the latest coming up next i'm andrea, founder of a boutique handbag brand - andi - and this is why i switched to shopify. it's the challenges that we don't expect, like a site going down or the checkout wouldn't work. what's nice about shopify is when i'm with my family, when i'm taking time off, knowing that i have a site up and running and our business is moving forward because we have a platform that we can rely on. that is gold to us. start your free trial at shopify today.

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welcome back to the show netflix is surging premarket after the company reported stronger than expected fourth quarter subscriber growth and topped revenue estimates, although eps came in short the streamer reported $8.8 billion in revenue and added 13.1 million paid subscribers, now boasting a record 268 million paying members they announced a partnership with tko holdings with a w we

partnership. wwe is something everyone is talking about. first let's get to netflix results and the huge jump in subscriber growth. >> the top and bottom line was a mixed bag but the market is laser focused on the net subscriber ads, adding 13.1 million subscribers in the fourth quarter, hitting 8.83 billion subscribers. it's a result of the password sharing they've cracked down on as well as the ad revenue, which appears to be paying dividends as well. the profitability for the company is also improving, which is a big positive for the quarter bringing in income of $937.8 million from the u.s., up

substantially from 2022. moreover, it's frafgt is up 24% up from a prior forecast of 222 to 23% we hear the company now has 23 milliontive users in that, they say around 40% of new signup in ads market are going to the ad plans as well. they said it's not really a primary driver of revenue at this point, but they're continuing to build out capabilities in theade supported tier as well as improve the quality of the pictures that people are able to access who are on the unsupported tier as well clearly you mentioned the wwe deal it's a big deal. it's the first foray or major foray into live entertainment and sporting events. it's a 10-year deal. there's an opportunity for the company to actually end the deal after five, but clearly that's

another string to the bow of netflix where it's looking to expand its content where it's looking beyond sports and movies to thinks like live sports as well as gaming as well, guys. >> let's look at tesla now that's reportedly planning to build a new mass market electric vehicle with reuters telling the company it plans to start production in mid-2025 it cites two sources which says the code name redwood would be a compact cross joer the most recent updated roster of tesla vehicles was the cyber truck which was announced back in 2019. it was slated to start del deliveries in 2021, but it didn't start until later investors see revenue moving around 5% higher according to exerts from the stock exchange group, but earnings per share is

expected to slide. markets are waiting. a fresh delivery target with the ev maker set to miss itself 50% growth ghoul for 2023. i'm pleased to say we have with us carl haseley. he's the chief analyst at fin miez good to see you. >> good morning. >> let's start looking at tesla. we heard arjun speaking about netflix. what are your expectations for what tesla is going to say later on today >> the good news is they reported deliveries three weeks back just as a reminder they reported 485,000 vehicle deliveries in the quarter, 20% up year on yar over year. i think there are two big areas.

one is vehicle demand and the second is the operating gross margin what's that impact going to be on the gross margins going forward? on the flip side we've got some supply chain improvements, some easing which should help tesla obviously the geopolitical situation around the world puts that at risk. >> we did see them announcing e they had to stop production because of the tensions. i would like to get your thoughts on competition from china. how can actually tesla fight back that competition when it comes to chinese ev makers >> it's china. it's only a quarter but still notable byb shibhed more teslas last quarter, so that's going to be something that's notable. i think there are a couple of other challenges one is electric vehicle subsidies rolling off in the

u.s. and parts of europe and then you've got some of the broader political landscape particularly in the u.s., potentially impacting demand there. so competition is a challenge and i think it will remain a challenge. on your points o subsidiaries also, they're launching an anti-subsidy investigation on electric vehicles produced in china, but at some point tesla was thrown into the mix of companies they were looking at, so that could adversely affect them in europe as well. let me just -- on the point of discounting, though, it feels as though tesla has been leading the way in terms of discounting within the electric vehicle space. they did it ostensibly to gain market share, but i wonder in this coming year, 25024, we've reached a bottom how low prices can go before investors start

punishing them on the margins. >> i think it's a great question i think the answer is compared to the nonpure play electric vehicle makers, tesla has a lot of margin to play with so can it go further yes. have we reached the bottom perhaps not, i'd say i think on the other side, tesla is trying not to see themselves as just an ev maker. i think from a shareholder perspective, there's a question mark around maybe how elon plays that and his ownership. what's the analyst's view when it comes to the cyber truck. every time i look at it, when my kid asks me to draw a car and i draw a very basic car and it looks like a cyber truck beyond thing at threatic appeal

or lack of appeal because my drawings are not that great, how has the reception been from the community with regard to the cyber truck and how does it change tesla's future? >> mixed, i would say. there are two things to bear in mind here. one, from a price and mix point of view, this should help tesla. it's going to be a premium vehicle. while it's cutting prices on the model ys and 3s, it gives them a way to come up with a premium product there. on the second part, it ooh going to be a massive contribution overall. i think the first few shipped in november one thing to look out for in results after the u.s. market close is any commentary or guidance on how many they're shipping or what they expect to ship in 2024 i'd be surprised if they broke it out, but obviously analysts will push for detail. >> carl, before you came on, arjun was giving us an overview

of the netflix results yesterday. really, really strong price action after the close yesterday. the stock is up almost close to 8% what do you point the growth down to. where are they able to succeed versus where they've been unsuccessful >> it's interesting the streaming wars it's coming to a close things are a bit more rational specifically to netflix, a couple of things have helped, obviously cracking down on password sharing, the count growth, the ad-supported tier and more pricing tiers in general has helped various markets. and if i look to 2024, i think those things will continue live sports or the wwe deal as an example of that is a really interesting area, and i think interesting that netflix is investing there when to use

amazon prime as a comparison, in the uk, they've declined to bid for streaming rights for the premier league in the next cycle. so that's a massive investment amazon played and it shows the streamers are becoming more rational and netflix could potentially benefit. >> very briefly, i'm very interested in the move to live and also gaming. i'm wondering from the streaming wars how likely is it we'll see gaming actually picking up this year >> i think netflix has spent a fair bit of time and attention on it, and, frankly, if you added, you know, 13 million users in the last quarter, a proportion of them will play games. as a user of netflix myself, i play a few games on there. >> interesting. >> it's probably not going to be the significant driver, but i think it's helpful it adds to the package in the sense that amazon prime membership is more than just

video. >> thank you for that. it's an exciting time to follow the streaming wars that was carl hazeley, chief analyst at finimize. we may be prepared to pay more for subscription plans find out why on cnbc.com. a quick look at u.s. futures before we head out for the day, and all of the majors are seen opening up in positive territory. don't forget we'll be getting gdp print later in the day that could be a huge market driver but that is it for our show. i'm joumanna bercetche alongside silvia amaro "worldwide exchange" is coming up next. 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.

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it's 5:00 a.m. at cnb headquarters and we start with "five@5." netflix, they're surging since the early days of the pandemic. also, keep the records rolling. futures look to put stocks back in the win column after a mix yesterday after they locked in fresh new highs. also this morning more trouble for boeing pressure building after new comments from two major customers, both of them speaking to cnbc and nc exclusively