so thank god for that. that's all for this edition of "dateline." i'm craig melvin. thank you for watching. [music playing] european stockmarkets are open for trade, and the early signals have been flattened down deep individual markets, same players, usual suspects, the daks, german stocks again. and as they move up by another 0.7% plus, there'll still be an appetite we saw that in stocks yesterday. the market waiting it out for some more clues after some pushback from fed speakers, suggesting that, look, we may not be on track for three rate

cuts this year that was the narrative from jay powell when he speaks later this week, that will be some of the concerns he rattled the market with him saying we may not get a soft market landing the markets pulling back until they get confirmation data stateside, a bit of a fade on some of the big names across the ai universe, and picking up on some of the trends, a flat open start. not where we were when we wrapped up yesterday the stocks are at different plays and sectors. i can tell you retail at the top of the boards this morning oil and gas at the bottom though we've got to a retreat here. that's despite better than expected data. what we're getting out of the travel agent space, retreat down

0.4% don't forget it's been challenging for boeing talking about how it repairs its image around the culture over the issues that have plagued the company for a number of years. bnps, one of the weaker starters real estate down 0.2%. financials, similar. u.p.s. at the bottom we're talking about the chinese now hitting back against the u.s. and the inflation reduction act and support that's being give on the the big autos. a lot of moving pieces chemicals, construction all trading higher telco is up about a tenth kroft. kpm, telefonica, some of the positives. we've got heineken also improving this morning, moving into positive territory.

insurance stocks are higher. health care names trade up by a third of a percent media names, we're talking about retail names every stock in the basket 0.4% higher the rest of the players all bouncing this morning including major rival inditex. the performance for the ftse yesterday, not bad we had a weaker start for getting closer to 0.2% so we had dropped below the 7900 mark we've renamed it we're down 0.2% on the overall trade. the german dax still going for it to the upside with that 18,396, 95 roughly more momentum in that market we're stronger on the spanish names, flat on italy a bit of a mixed bag across the board. mandy, you're looking at some

tata for us. >> absolutely. we're getting data out of spain. with spain's european union harmon ietzed, inflation rising 3.2% in the 12 months, this is higher than the 2.9% inyears that was in the period for february, but nonetheless, the numbers are still below the .3% number that was expected by analysts pulled by reuters core inflation, we always need to look at that. it strips out food and energy prices that rose 3.3% in the month of february the good news is it is down from 3.5% the previous month now you're taking a look at the eurodollar in the meantime sitting flat at 1.0822 on the

board, karen. >> you look at the glimpse into the green of h&m you can see bouncing right toward the top of the stock. double-digit bounce in reaction. it posted a better than expected operating target in the first quarter and set its profit margin for 10% this year as silvia joins us with more. a lot of companies are trying to be more catch confident. h&m is very name bbl in what they're going after at this point. >> exactly it feels as if the investors are receiving these results with open arms. just to digest some of the numbers in terms of net sales and gross profit margin, they both came in higher than what analysts had expected, and this is translating into some of that

share price reaction thus far. now, one of the open questions, however, even though we're getting positive results and a positive reaction in the h&m, is whether this is actually a turning point for the company, and whether this being the first set of results for the new ceo will start a new trend, a positive trend for this group that has faced several challenges over the years. we're talking about competition from retailers in europe and more broadly others who have revolutionized parts of it there were comments made that h&m group may become faster at some of the market trends. in terms of what else we heard from h&m group, and it will be important to see what happened in terms of the store closures and so on, one thing to keep in mind is the new ceo did commit

to the target of a 10% operating margin for the full year of 2024 so even though we're looking at a new leadership here, some of the targets are being kept just a final point to say that when it comes to assisting the targets, they have issued their new results when it comes to this, and they did show that there's been a 22% reduction over the period of 2023 in terms of their c02 emissions, which is, therefore, we're seeing a bit of progress, guys, but let's see what happens next, and how are they going to manage this difference of delivering on the market trends, and do they need to be faster while also suspending their giveaway secrets. >> i think it's as easy as going into the store and seeing if it is working it's very fashionable. i've seen the same trends from mns carrying the gucci effect.

you can tell when the product is on the shelf whether it's going to sell. it's very much improved. the price point is good for profitability. if the consumer is still buying the product, you can see why it's working for them. >> it's a question of who are they trying to target here it's worth it to keep in mind even with some of their new store openings, they're trying to play into more of a luxury experience and trying to put those higher ticket prices items out there, but the question is, going forward, with inflationary pressures and so on, are consumers willing to pay this much for a product that ultimately is -- am i getting what i'm paying for with this product basically. >> so we watch for the markdowns, right >> and how dutz it differentiate. but that's another topic. let's push on to bnps. we saw it in the banking basket. it's dropped 3% this morning as the italian government has further reduced its stake in the

lender the government has sold 12.5% stake in the business, reducing its overall holding to 26.7% and raising 657 euros. they plan to reprivatize the legenders in 2017. i think we can call this a bidding war for the company of ds smith it's in talks of a talkover on paper. it comes after mundy reached an agreement to buy the company for 5.14 billion pounds. look at ds smith stock up 7% don't forget, we have the deal we've been watching that is seen as a major competitor to international paper. so the fact that there's some movement in this, let's take a look at international paper in premarket as well. you can see the stock is

slightly higher at this stage. it seems a stretch for scale in packaging is key at the moment. let's look at the push for the macro in china growing 10.2% on an annualized basis you're looking at factory output, retail sales, and exports. let's bring in james henry thank you very much for joining us here on set, james. i was just reading through your thoughts sort of country by country, region by region here one thing that stood out for me, and that is with the united states, you say we're still above average with recession we spent all last year wringing our hands with worry over something that never materialized why could this year be an above average risk still >> the most important is just the lags on monetary policy. but if you look at last year,

the fed began to hike in 2022. so when we're talking about risks in 2023, that would have seemed r ed like a rapid pathwa. in other words, it's premature if you see that, the base case is we don't get a recession, but if you were ever going to get a recession, it would be '24, not '23. >> i think what has surprised a lot of people is the resilience of the u.s. economy. yes, resilient, but not exactly firing on all cylinders. to that point we haven't really seen earnings estimates come up that much, certainly not to the amount of stock price gains in the u.s. equity market is there something that could end badly? >> a little bit of weakness is your friend here if the economy remains super strong, that doesn't give the fed the capacity to start cutting rates. we should be able to see some

degree of slowdown which will allow the fed to pivot a little bit of weakness would be a help in this regard to your request about the macro and the markets, there's limited upside to these valuations the better opportunities might be in other markets. >> i was looking at your call in india that it's by far and away a growth story how do you play the indian market >> i think in india's case right now, you're looking at a strategic long-term growth story. you're looking at a desecularization we're looking at an economy here that could look at a double gdp raise for the inevitable future. i think there's still significant upside based on that growth story how do you play that i think it's an across-the-board story. if you look at the smaller mid caps, there's a huge opportunity

to generate the market. >> there have been a few issues over the years in investing in ijd ya, around the banks, cleanup required what are the risks these days as you think about the next few years? >> i think it points to the expertise on the ground. it's an understanding of not just the macro but the changing political environmental. you're quite right to say there are risks as there are in any market right now it's about being present and having a better track on the ground. >> japan was a standup performer last year and so far this year about 27% so far versus s&p's 9% does it have more room to run and why? >> absolutely. japan is the one major economy where it's not a problem >> absolutely. we want inflation. >> look, let's take rates out of

negative territory there's an opportunity to get back to a more normal policy setting. but we're not trying to choke off the policy settings. we're embracing it with open arms that means firms have more pricing power. japan is the most attractive both on the short term and the long term. >> james, this is a very traditional conversation, one that mandy and i would have had over the bulk of our careers, but there's another feature this time around, and that's ai how do you play ai based on the international markets you like >> the obvious way has been to think about the epicenter, the chief creators and the magnificent 7 we talked about last year. i think the ripple effects will trans form also. health care and supply chains. so it's about identifying the

linkages i do think ai provides a huge opportunity for investors right now. >> james, thank you for joining us on the tape this morning, s 4 capital is down. the british advertising group says it's seeing challenging macro conditions and cautioning in the new term. speaking exclusively to cnbc this morning, the ceo explained why clients are cautious. >> clients are cautious. when you start dealing with the operations, they continue to be cautious the environment is the

political. pricing power, price stop, ad ratios were powerful as the same time as the platforms were reducing their advertising and marketing spend. >> ubs group and apollo end their deal managing former cs securitization unit. it expected a net gain of $300 million in the first quarter from these deals credit suisse has seen a loss of around $900 million. one of germany's biggest listed assets down 31% from 2022 it met guidance for funds for operations at 332 million euros. germany's property sectors is grappling with its worst real

estate crisis in decades that's quite a dip as we talk about numbers with the stock down nine on the same today. and look at the rest of the german property players across the german market. vonovia down 1.2%. across the board you see a slump takes place. coming up on the show, we're going to go back to china. the ceos in china are very excited about meeting with xi jinping, the president we'll give you an update on what's going to be expected with the meeting. all the details next 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. go to shipstation.com/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 walmart and drinkcirkul.com. switch to shopify and sell smarter at every stage of your business. take full control of your brand with your own custom store. scale faster with tools that let you manage every sale from every channel. and sell more with the best converting checkout

on the planet. a lot more. take your business to the next stage when you switch to shopify. not all caitlin clarks are the same. caitlin clark. city planner. just like not all internet providers are the same. don't settle. you want fast. get fast. you want reliable. get reliable. you want powerful. get powerful.

get real deal speed, reliability and power with xfinity. she shoots from here? that's kinda my thing. a lot of news out of china this week with chinese president xi jinping who has met with expectation turs of blackstone and qualcomm he chose not to meet with ceos at the chinese development forum, which was earlier this week the dutch prime minister will

meet with xi later in a conversation that's expected to be tense it's unclear whether they'll be allowed to service the equipment it's already sold to chinese firms when existing licenses expire. well, government officials and top execs are meeting in china. so let's get more with lyin lin who's there on the ground covering the event blow by low lin. >> hi, mandy day two of the forum has been very busy. lots of conversations about quality, financial cooperation, as well as foreign investment, which has been dominating discussions in recent days we're seeing this concerted effort by beijing to bring that foreign capital back under scored as you just highlighted by that meeting between

president xi jinping and those top u.s. executives. the question remains, of course, is this going to move the needle because there is this view there is competing interests here, on the one hand wanting that development, but on the other hand, beijing prioritizing some of those national security related issues as well there are also concerned around china's economy because while they did hit their 5% growth target last year, the recovery post-pandemic has been slow and it's been bumpy. we're certainly seeing some green shoots for example some of the profit numbers we saw for january and february there are concerns aurkds china's domestic demand. it's one of the worst major commodities all year china is the biggest consumer. i spoke earlier today with the ceo to ask him about his

outlook. let's take a listen. >> what's encouraging for us, we're seeing the market pivot away from a solid property-focused now property is still key to our market here, but we're seeing upshoots in automotive, and for us more excitingly is the renewable energy focus last year alone, nearly $1 trillion was spent by the chinese in their clean energy sector 300 gigawatts of power installed. we're talking a 5% gdp growth here 42% was contributed to the decarbonization and clean energy alone. we're really encouraged by the fundamentals of a more mature market in the future. >> as dino was just talking about there, this pivot by china to those greener industries,

much more than what we heard on march 5, if tthe focus on the m pro productive properties. in terms of what we've been seeing in terms of that economic data as i highlighted there, they are seeing some green shoots when we look at industrial output, fixed asset investment numbers, as well as the cpi and export they all surprised to the upside today we got industrial profit coming in at plus 10.2% for january and february so we are seeing that improvement compared with 2023 but the concern is, of course, in terms of where china will go in terms of its domestic demand going forward, particularly because, you know, we haven't been hearing much in terms of stimulus from that front back you do guys. >> lin, thank you very much for brings us the coverage today

coming u on the show, we're counting down to the latest central bank action in europe. we don't think the swedes are going to do what the swiss do, shock the market nonetheless, the riis-bask-based decision coming your way next. ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even a term policy! find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com. 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

there's nothing better than a subway series footlong. except when you add an all new footlong sidekick. like the philly with a new $2 footlong churro. sometimes the sidekick is the main event. you would say that. every epic footlong deserves the perfect sidekick.

in the headlines today, h&m at the top of the stoxx 600 after notching a q1 beat, doubling chinese president xi jinping meets with the executives of qualcomm and others in beijing the japanese yen sinks to a 34-year low against the dollar, while the country's finance minister warns the government could take decisive steps, the same words he uttered in 2022. elsewhere, ds smith jumps

after a takeover by u.s. international paper. we have breaking news at this hour. we're closely watching the riksbank the swiss national bank fire d them the progress we've seen on inflation mostly coming through on the good side rather than the services side, so the question there is given the head line, cpif has come in at 2.5% in february, is that low enough to prompt some change in thinking the riksbank had seen roughly 2.9% on that february figure the call level is still high it's not on target it's at 3.5% again, it's lower than what it

thought when they were calling for 3.7% there's been downside pressure here with the rate currently at 4% on the interest rate. we'll see whether that's targeted today as the bank reveals its thinking but fresh projections expecting to come through in terms of what we're seeing today but the weakness is something we're watching too don't forget, the dollar on the forefront as we set up for the decision currently 0.2 is what we're seeing the numbers today as we wait for the central bank to keep us, give us the news, we've got the swedish central bank the executive orders decided to keep the policy rate unchanged at 4%. so we do not have a live meeting today. it is telling us that the policy rate will not be moved as a result of this meeting don't forget the surprise. the market is setting up for it on the back. i think that's why the market

was keeping a closer watch than normal on this decision today. we've got dollar versus swedish krona higher it's 3.9% in the second quarter of 2024. that's according to the swedish central bank it's likely they can cut rates in june. teeing up the same time frame the market is focused on, it is also, again, just talking about that repo rate and what it sees in the third quarter it's seeing 3.7% so 3.9% seen in the second quarter, 3.7% by the third quarter, versus a november forecast of 4.1% nudging around these forecasts today is what we're seeing in terms of policy rate that is seen averaging 4% in the first quarter, a slight adjustment there, barely any, averaging 3.9% in the second quarter

versus what it was saying previously at 4.1% so a slight jaumadjustment on tt level. the central bank seeing 3.7% on the quarter versus 4.1%. looking for a line here on inflation and risk, it says risk include new supply and krona continuing to weaken on the company's pricing behavior, not normalizing as expected. that's one of the risks. the monetary policy needs to be adjusted cautiously. it's still a suggested inflation story from here. mandy, did you want to come in here >> yeah, yeah. wow, just take a breath there. interesting what's going on in the world, and naturally what we're seeing around the world, at least for western and major central banks with the exception of, perhaps, china, you know, is a coordinated and synchronized

move over the year toward monetary policy easing but i think what's really interesting has been what's happening with the japanese yen. because after they made that first hike in 17 years just last week, you would normally think the yen would gain on the back of that. it immediately slid, and now we've had all week by the ministry of finance saying that they're on standby to take decisive action, decisive steps against speculation and disorderly moves of course, verbal intervention doesn't really change the course of anything. i thinkty problem with the japanese yen is there was so much anticipation, isn't there there was so much anticipation built into the yen it was buy the rumor, sell the fact we were sitting back saying, okay, they made this move, but it has to do with interest

rates, crazy experiment. they may not get to 1% in the next five years. like how long is it going to take for them to get there >> it only seems to be working for the dollar at this point even today we're seeing caution about what could get in the way of monetary policy, but you've got weakness with the krona as a result i mean, it was only really this week they were suggesting one cut, not three, as a potential that's moved the needle on dollar and everything else in the mix and china firing back. the dollar is king yet again but let's push on and take a look else where. british businesses remain confident about the year ahead with retail tense surging to a two-year high in march, offsetting a conservative outlook according to the business barometer which found

overall confidence remains well above the overall average. thank you very much for joining us services inflation seems to be a theme globally what is that doing for confidence as you look at boeing today? >> if you think back to where we were a year ago, inflation was still in double digits interest rates were going up so we are in a much better place than we were 12 months ago that's really reflected in our survey so confidence is at 42%. that's a net percentage balance. as you say, that's above the long-term balance. that's really a positive signal that businesses are giving us in terms of the outlook for the full economy and for trading prospects. >> from here, what's the biggest headline there's a ton of geopolitics going on we're talking about the narrow politics about cutting and what they're cutting and other narratives that can get in the way. what's the biggest risk? >> firms are telling us they're still most concerned about energy prices, inflation, and

interest rates but i think what's interesting is that those concerns have started to drift lower compared to where they were six months ago. so i think things are moving in the positive direction firms were telling us that they're concerned about supply chain risks. but, again, those concerns have fallen back. i think one thing to look out for is probably a political risk we're sensing that firms are -- it's become more engendered, elections in the uk and the u.s. >> it's really interesting, isn't it, about the supply chain does rupgss. karen was talking about the outlook from the swedish central bank and one of the key risks they cited was chain disruptions. in your report, they're not as worried. the businesses in the uk are not as worried about supply chain disruptions. do you think that's sort of getting ahead of themselves?

th are supply chain risks still out there in terms of the global supply chains? >> i think it is a risk, but i don't think it's as big of a risk as it was during the pandemic i think part of the reason is there's a lot more capacity with respect to shipping compared to where it was during the pandemic so it is a risk certainly, but at the moment, firms are telling us it's not as big a risk as it was. >> butit's different -- it's a different threat, isn't it it's not covid per se and a complete shutdown of global trade. it's things like renewed political tensions between u.s. and china. and like we mentioned, the red sea is very, very volatile, and at this juncture, not at all resolved. >> i think you're right. firms are saying political risk is one of the things they're

looking at increasingly. supply chain risks are there, even though it's fallen this month. it's more risk at the moment than something that's baked into their central scenario, but it's certainly something that's on their radar. >> i wonder about wage increases. that's been dramatic we've watched across japan, united states, and across europe what do you say in terms of the willingness of employers to pass on some of the profits through to higher wages? >> firms actually tell us one of their biggest strategic priorities is to maintain or increase profit margins and secondly to reduce costs so in terms of wages, i think historically the current wage expectations are actually on the high side still. i think what that tells us is we probably will get further moderation in actually rate

growth, but it's going to be gradual rather than rapid because firms are still looking to pass on higher costs. >> it's ironic, though, isn't it, that they still see a gradual decrease in wage growth given all sides and also in terms of shortages do they attribute this to brexit or what's going on >> what's interesting in the current survey, we have seen quite pullback in the positive territory with respect to hiring it's still positive, but it's at least positive for six months. part of it might have to do with impending rises in the wage, national living wage we have noticed particularly smaller firms and those in the retail sector, they seem to have cooled more in terms of their hiring intentions. so it's -- it's more an inference rather than something definite, but i think the

interest wage could be effective. >> you look at joe biden versus trump in the united states the narrative is here in the uk, there's nothing to spook the market because you've got two politicians very close to policy action a little different in the united states how are you thinking about the risk and how the nation is thinking about the biggest political risks to come? >> yeah. we haven't asked directly what they think about, you know, biden versus trump, but i think compared to six months ago, they are telling us that political uncertainty is on the rise i think one of the big debates iswhat happens after the election because, you know, a lot of the public spending pro promises, how is that going to be paid. so that's a big question really

for everyone really, businesses, household, after the election. >> fiscal policy has had a big impact in recent years that ing you so much for joining us the senior economist at lloyds bank. coming up on the show, shares of donald trump's social media company surges in the nasdaq debut we'll have plenty more next. it's hard to run a business on your own. make it easier on yourself. with shopify, you have everything you need to sell online and in person. you can have your inventory, payments, and customers in sync across all the places you sell. it doesn't have to be lonely at the top. join the millions to finding success on their own terms. start your journey with a free trial today. my name is ashley cortez 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 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 walmart and drinkcirkul.com.

hi, my name is joann, and i lost 75 pounds on golo. the other times i've lost weight, i was tired, run down. with golo, you feel great as you lose weight. i have enough energy to exercise every day. (energetic music fades)

we've been talking about it. let's show you the action on the boards the japanese yen hitting levels not seen since 1990 this morning awaiting expectations of further rate hikes any time soon from the bank of japan. so we're currently sitting at 151.81 we're right to below where it slid to in 2022. that, you might remember, folks, is when the authorities stepped in to try to stem its slide. the finance minister says the

government could take decisive steps, which is the same phrasing exactly that was used 17 months ago. meantime the governor says the central bank is keeping an eye on the forex moves you're seeing it up by nearly 8%. in the meantime byd's earnings rose to 30 billion yuan it was slightly below expectations and comes amid weak consumer spending and a cloudy outlook. there's a lot of competition in the ev space, but the momentum is likely to continue into this year after the company slashed the prices of many models. now you can get one of their hatchbacks for as little if not lower than $10,000. clie na has filed a wto

dispute against the u.s. over what it says is discriminatory ev subsidies over the inflation reduction act. arjun joins us more. everybody uses subsidies subsidies for all. tell me one country that doesn't use subsidy in some form or another to support the financial industry. >> china was ahead of its game the market has sort of been in force since from around 2015 that's why you've seen over the years the chinese ev players come out of nowhere and grow quickly. you've seen a number of upstarts now all growing pretty quickly and trying to take on the global stage at this point as well. of course, tesla has been a beneficiary of china's own push with evs as well one of its factories is producing the model 3 car. even americans have benefitted

to some extent from china's own move into the push for evs what china is upset about is particularly around the inflation reduction act and some of the provisions which prevent ev buys in the u.s.ing not being able to access some of the u.s. subsidies if many of the critical components like batteries are made by the chinese. if you think of the market, yes, ev players are one part of the equation, but also china is home to the biggest ev battery maker. this is another huge company that provides the batteries for many of the evs as well, and i guess china feels some of its own, one of them, may feel some pressure if the u.s. market begins to become shut off to it. >> the funny thing is we've had the chinese call for more. they say, here's the red carpet. come and invest in china developers last year decided to scale back its investments in

china because of the ev competitiveness. you have china on the front foot doesn't that encourage more auto companies like the united states and elsewhere to roll backes on it in china because of the threat >> one of china's problems at this point in tefrms of fdi is trust. i think they lost a lot of trust of the international business community through the covid pandemic and sort of beyond that particularly in the tech sector where there were sort of regulations out of nowhere seemingly sunday night, announcements from the pcob or regulators that took markets and investors by surprise. in terms of companies looking at this -- and apple is a prime example of this -- during the covid pandemic as the rest of the world was opening up and china's strict rules were still in force, apple's iphones being produced in china were shut down for several days you see now an attempt to diversify the supply chain to places like india.

when you think about it, i think the trust has been broken a lot, and as they're rolled out, there have been a lot of the international businesses looking at the market, perhaps taking a lot more of a cautious approach in terms of how they might invest for your the future. >> yes a case of we want to be self-reliant but we want them to help us beself-reliant thank you so much, arjun. shares of the trump media surged on the first day with nasdaq donald trump who is a majority shareholder is now valued at almost $8 billion. we spoke to chairman martin sorro about what a victory for donald trump as president in the country could mean for the country's economy. >> if trump were to return, that's not bad for the u.s. economy, and u.s. business probably favors -- ken griffith and others have said publicly u.s. business favors trump

the american economy will strengthen wait means for international relationships, ukraine, the middle east, and iran, we'll have to sigh, but certainly the domestic u.s. economy probably will start to fire on more cylinders as we go into 2025 well, arabile has more on the debut. arabile, you know, so many of the small investors bought into this stock to be able to support donald trump's re-election campaign what happens if he doesn't win what happens to the stock? >> that's the big question mark. you see a lot of people propping him up on the basis he were to win the election if he were to win, social diskourks conversations, global conversations, i suppose, would happen on truth social, much like they did on twitter or x as

it was back when donald trump was president initially. so if he doesn't then become president, one would assume that this kind of loses somewhat of a bit of relevance and become as lot of noise as opposed to a viable business option i mean we do have one of the graphs just to compare this social media company to some of the others the likes of facebook, tiktok as well i think that kind of gives you a clear sense of how small this company really, really is, and hopefully we can bring up that graph ultimately very soon just with regard to the size of the social media giant's media as well you see 5 million active users but facebook has what? 3 billion? in comparison, we're talking chalk and cheese here. even by revenue. reddit put out its forecast.

yet this now has a valuation of more than $8 billion. >> i find it fascinating try to access that seems almost impossible he's counting down ten days to come up with bond money of $175 million. of the options as one put it, he could maybe convince the board to let him out of a lockup agreement, if he were to sell and reduce the side of the stake, it could singer the stock price. the options are seemingly tort does for this president. >> you get the commentary that people say that might actually be the point torsion try and shore up some cash for donald trump as well. i mean, whether that is the case, of course, the proof of the pudding is in the summary. ask yourself is there a proper business case for the stock

moving on from here. let's remember that same ticker, dj t, only lost nine months. >> arabile, thank you very much. let's push on to one of the headline stoirps the u.s. coast guard says six bridge workers on the francis scott key bridge are dead. it's been transitioned into a recovery mission after a fully loaded container ship crashed into a key column. alice barr joins us from baltimore. alice, bring us up to speed on the latest developments on the ground there >> reporter: good morning. yeah, we are expecting that the search efforts should begin again in roughly about an hour from now as you noted, the sad update is this has shifted from what was a

very active urgent search-and-rescue mission yesterday to now a recovery mission. just too much time has passed, and these waters are frigid. they're dafrmgts we know immediately after the collapse, there were two construction workers who had been out doing standard road repairs on the bridge and had fallen in they were pulled to safety but these other six are now presumed dead. we know there have been some family members in the area who are waiting for answers, so it's very important and everyone here has been doing this to keep the focus on the human cost of what happened on this bridge an, andh promise that officials are bringing is they're going to do everything they can to bring closure to the family. they're also trying to figure out how this could have happened the national transportation safety board has a lot of crews out here they're interviewing witnesses they're looking at debris on the bridge as well as the cashgo

ship, looking at data recorders and 3569 safety records to try to piece this together what we have learned is that for some reason that massive cargo ship, the length of an empire state building, it lost power and propulsion steering just before it collided with the structure of the key bridge that caused that massive collapse the only positive new out of this is crew members on the ship were able to send out a may day distress signal that allowed first responders to shut down the bridge so there with no other cars crossing over when it happened back to you. >> alice, thank you for bringing us that. it's been a busy hatch hour, busy hour. you can see stocks are still flat if we take a look at various markets, a little bit of weakness cropping up on the ftse and the contact and some of the gainers and losers retail media name right at the top. you see weakness in gas, oil,

and travel and leisure stoxx 600 up 13% at this stage the outlook could be challenging from here. that's all from mandy and myself thank you very much for joining us on "squawk box. coming up, "worldwide exchange." e has no idea she's sitting on ae goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even a term policy! find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com.

norman, bad news... i never graduated from med school. what? but the good news is... xfinity mobile just got even better! now, you can automatically connect to wifi speeds up to a gig on the go.

plus, buy one unlimited line and get one free for a year. i gotta get this deal... that's like $20 a month per unlimited line... i don't want to miss that. that's amazing doc. mobile savings are calling. visit xfinitymobile.com to learn more. doc? there's nothing better than a subway series footlong. except when you add an all new footlong sidekick. like the philly with a new $2 footlong churro. sometimes the sidekick is the main event. you would say that. every epic footlong deserves the perfect sidekick.

it is 5:00 a.m. here at cnbc headquarters. i'm frank holland. here's your 5 at 5:00. the dow and s&p notch their third straight day of losses, but that will not keep several companies from hitting new highs. nelson peltz getting fresh support with disney. we have details on the backer. trust, it only gets bigger.