that's all for this edition of "dateline." i'm craig melvin. thank you for watching. [music playing] ♪ welcome to "street signs." i'm carolin roth and these are your headlines. astrazeneca shares move higher as they announce the plans to launch 20 new medicines by 2030. the cfo tells cnbc she is confident by the outlook. >> we have confidence by the $18 billion ambition with the portfolio and breadth of the scale of the portfolio we see today. we expect to see 20 potential new drugs by 2030.

many have the potential to be $5 the b billion drugs. the nasdaq closes at an all-time high as the fed is focused on the next move. and the eurozone pressures as german producer prices fall more than expected in the softer energy rates. microsoft unveiling its latest lineup of a.i.-focused pcs as the race to get artificial intelligence tools into the hands of consumers and businesses heats up. ♪ good morning. welcome to "street signs." great to have you with us this morning. let's get back to the top story. astrazeneca aims to reach $80 billion of revenue by 2030 amid significant growth with the

oncology and rare disease portfolios. the pharma giant will expand the drug pipeline with 20 new medicines. arabile is joining us from cambridge. you have been talking to the cfo. >> reporter: i have carolin. it is one thing to have an ambitious plan, but another to get the growth from. you are nearly doubling the revenue from $45.8 billion the to $80 billion by the end of the 2030 timeline saying they plan to reach that. among the things was carbon emissions, but it is really about what is your key focus. you made note of it. oncology and bio-pharmaceuticals and rare diseases. those are the key factors for them. it is a return to normality for the company which focused on

cancer treatment. they are ready to replace a few of the traditional, shall we call it, cancer treatments in place right now. the cfo making note how it could happen very soon in certain cancer treatment areas. perhaps, not the entire ecosystem of cancer. oncology is the most important part of the business. there is growth in areas of weight loss drug treatment and obesity treat, et cetera, so, too, diabetes, but the main aim being oncology. here is the note from the cfo as i spoke to her earlier. she was speaking about how she is confident in the outlook, but where the growth comes from and saying consolidation is a key part of the business. >> we're entering a new area of growth and these are areas that we have been investing in over the last several years. we have a lot of confidence in

the $18 billion ambition because of the portfolio and the breadth and scale of the portfolio that we see today. we expect to have 20 potential new drugs by 2030 and many of them have the potential to be $5 billion drugs. we are truly transforming the areas we're working in. our ambition in oncology is to treat half of cancers by 2030. we're looking to, for example, replace chemotherapy with adcs. replacing radiation therapy with radio pharmaceuticals. we are looking at renal disease or metabolic disease. it is how quickly science is advancing and the investments we made in science. >> are all those replacements you are anticipating to happen in the next six years as yoyou

forward the plan? >> for the entire market to get replaced will take time. we think we have the technologies today to start replacing them. we already have drugs filed with the fda for example to replace chemotherapy in certain areas. time. the tools are there and growing faster. >> in all of this, you have been invested in the new facility out of singapore and hcontinued investment is critical. having the runway to do that considering the kind of growth you are anticipating, how do you do that simultaneously? >> it is a balance we need to strike. our capital allocation priorities are clear. that is investing in the business. the announcement that we had yesterday about antibody drugs is the new facility in singapore is the new technology that now,

obviously, a lot more pharma companies are investing behind. we are ahead of the curve. that is the new technology that will replace chemotherapy. that is why you need an end-to-end and why we made the investment in singapore. in addition to that, we made investments here at the beautiful campus. we have 2,200 researchers here. we made investments in other sites as well. it is a balance between driving growth and driving investment in r r&d, but also looking to improve profit. >> reporter: continued investment is the aim here from astrazeneca saying while they focus in on the cancer treatments being a key part of the business, they will continue to invest in manufacturing plants to aid them. the company hasn't been rewarded for the investment over the last year or so. the last five years, managing to

do double the share price. is there more runway? we will see as the company has plotted that road to $18 billion. >> arabile, thank you for that. let's give you a check of the trading action here in europe. the stoxx 600 is showing softness at 0.3%. not far away from the recent record highs. of course, we don't have a lot of data on tap this week, but a lot of news from the technology front with the numbers from the likes of nvidia and, of course, a lot of news coming from microsoft. that could boost sentiment later on this week. let's check on the equity markets one by one. the ftse 100 is off .50%. cpi is in focus this week. the dax is off 57 points. the ibex is looking at a modest gain. switching to basic resources.

we see a modest gain here. the deadline is tomorrow for bhp and anglo american. when it comes to the yields across europe, but the u.s., the cpi is firmly in the rearv-view mi mirror. we are seeing yields across the eurozone just a touch weaker this week. massive back flows according to the government bond yield spreads this week. the ten-year bund is 2.5%. treasuries with 4.83% for the short end. let's stay in the u.s. markets. i want to show you a snapshot of the futures. application mixed with the s&p 500 up 4 points. the dow jones industrial average is up 9 points. fairly in line with yesterday's trading session.

henrik johnson is here with us from deutsche bank. good to see you here. >> thanks for having me. >> maybe a bit of profit taking for the u.s. markets and european markets, but by and large, so much exuberance in the markets. how is this reflected in the daily bread and butter? >> these are the best market conditions we had for primary issuance for two years if not longer. you have credit spreads at three or four-year lows and equity markets at all-time highs. the good news for us and the market has been the investors have been receptive to primary issuance. >> talk us through the risk spectrum and issuers. what are we seeing here? >> we have the ig bond market up 30% year over year in volume terms. that's a big numbers. that's $60 billion from this

time laughst year. within financials, the issuance is up over 100%. just showing a capital retirement theme from the banks. the really exciting thing is in the leveraged financed markets, we are surpassing the last year's full-year volumes in the next couple weeks. that market has been unfion firl year. >> you are on a tear. is this exuberance or euphoria or whatever you want to call it the risk that is not appreciated by the market? >> there are risks. what is driving that is the great combination of the goldilocks soft-landing scenario. investors can see rates with probably coming down over time, but not coming down because we have massive economic underperformance. it is coming down with the inflation slowing. company performance is very

good. we did a survey of all of the q1 earnings calls in the u.s. and europe and the theme is robust demand for most companies. that's really what is underpinning the market. >> what could derail that, if anything? >> i think many people are looking at the market as a ten-month market this year and what i mean by that is there's a lot of especially on the debt side issuance where people have things they want to do and they're trying to get it done before you start getting into the u.s. election season. what would erail the market is more if we get some economic downturns. europe and u.s. is the big geopo geopolitics, but companies are trying to issue as much debt before the unscertainty at the end of the year. >> there is a lot front loading with the u.s.

elections, but not necessarily because they feel an issue with the rate volatility? >> i think there is a potential for surprise. back in april, we saw that glide path. now we are back to the slow decline in inflation. benign rates environment. central banks are not as central to the capital markets when rates were on the way up. >> what about the european elections? we have the european elections around the corner. is that something that issuers are clearly worried about? >> i don't think that there is a big worry about european elections in general. uk, maybe to a certain extexten. the economic policies and this goes for the u.s. as well are out there. you will see deficit-led spending and tariffs. a lot of that is already priced in rather than that being

something people are worried about. >> henrik, what i wonder is with all of this supply coming to the market and the issuance and the high-end risk spectrum, are there enough buyers to snap it up? >> that's a good question. you tend to get supply-driven downturns with too much to absorb. there is an effect where investors are getting a lot of cash in on the debt side. we should talk about equities. the coupons are so much higher than when rates were ultra low. there is a flow of cash in the fw funds in the portfolio. there isdebt getting well absorbed and a lot of it is refinancing. the net new issuance is not necessarily huge. on the equity side, that's a bit slower. i thinkwe have seen high-profile ipos, but the next wave is in the starting blocks.

i think we'll see much more issuance at the end of the year and next year. >> we talked about dcm, but let's talk about ecm. according to your notes, m&a is up 30% year to date. the sponsor volumes are up 10% globally. are the global equity players anxious to remove the valuations? is the fund raising right now? they want the good valuations. >> each individual asset is different and each fund has its own dynamics. we have seen a slow start to sponsor m&a and processes that have not worked. the bid ask between the buyer and seller is still too high. corporates have been more active. there is a take private theme.

how this will change is related to the ipo market. if you start seeing companies being able to exit into the public equity markets, there is a baseline price that will also effect the m&a track. a bit more of an objective valuation rather than a premium or discount. >> global m&a as such, and sometimes it is a competition to the responsi sponsor deals, how been? >> a lot of it in the resource space and i think boards around the globe are looking at the world right now and there is geopolitical risk right now. there is much more uncertainty of the future and that makes it easier to make a decision like m m&a. >> to what extent will we see a summerlull this week -- this

year, sorry. we see little issuance on the dcm side. is the summer going to be busy? >> selfishly, we all look to the a quiet summer. i think this will continue. the lull will be september and november when you have the big elections. the summer looks good. investors are looking to put cash to work. >> final question to you because we come back to the u.s. elections. your colleagues in the u.s. have done a study on the credit markets. what did they find? >> basically, they think it doesn't matter much over time. certain sectors can sort of be affected if they are favored or unfavored in the political discourse. they did an interesting study, as you say, two weeks after the election, things are back to normal. >> henrik, stay with me for a second. i want to get through a couple

of fed rates. flock fed officials give the take on monday as stubborn inflation continues to cast down on the central bank rate path. loretta mester cut back from three cuts saying inflation risks have moved up. philip ejeffers raised his concerns with the inflation being long lasting. another fed vice chair, michael barr, had been disappointed by inflation print in the first quarter. we will look at several prints to inform the pathway with key inflation data due out of the uk tomorrow and latest read on the german economy on friday. we will hear from several more fed officials over the course of today as well as bank of england governor andrew bailey. i know you are not a fed watcher. i don't expect you to be.

given the cpi print last week, is the ecb in a better position to be cutting rates and feel good about it? >> they are being coy. they say they will cut rates, but not by much. that is a consistent theme across different speakers. i think they are probably building up the room to being able to cut with the decline in inflation. we have seen the snb and richts bank with the cuts. it is in the cards. it is a benign environment. it is not a rate cut where you suddenly feel like you have to stimulate the economy because you are seeing a lot of corporate defaults or things like that. it is rates are high. it is having an effect and now is the time to start bringing them back down to normal. >> without seeing too much volatility down the line and the risk of recession. thank you so much for that. i appreciate your perspective. henrik johnson at deutsche bank.

coming up on the show, german producer prices fall more than expected as energy prices pull back. we'll go through all of the details next. 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. 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

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welcome back. a couple of corporate stories to tell you about. the spanish government has completed the purchase of a stake in telefonica. spain's state holding company acquired the 10% holding for 4 euro a share in an attempt to balance the similar size from the saudi stc. generali posted a net profit of 1.1 billion euro in the first quarter which is down 9% on the year. that is ahead of the company computations. it jumped 21% on the year with the net inflows returning to positive levels. generali is off 3.% this morning. gsk has reported positive

results from the phase three trials of the drug depemokimab. the drug is not yet approved anywhere the world and could be a growth driver by the end of the decade and forecasting sales of 3 billion pounds. and price inflation fell for the 15th month in a row. the lowest level since october of 2021. annual grocery price inflation came in at 2.4%, down from 3.2% a month earlier. and german fromproducer pri fell 3.1% for the year. let's get to annette weisbach with more. >> reporter: i think it is a positive sign for the ecb that producer prices here in germany is the biggest economy of the

eurozone which is on the decline for the tenth consecutive month. c producer prices are the rule for the economists where 30% of the producer prices are factored into the consumer price inflation. we see a clear downward trajectory which should give the ecb a good feeling about cutting rates in june. the rate cut as such is given for june, but the key question is what happens afterwards and how much will they cut? why are producer prices on the decline in germany? it is mainly because of energy prices. gas prices are down 18% month on month. electricity prices which are in relation to gas prices are down

by 14%. also intermediate goods which is an important figure for the production processes across the country are down. the only other spots where prices are actually going up is consumer prices and capital goods. in a nutshell, it is a positive sign. it gives the ecb a good feeling about cutting rates, i guess. the decline in producer prices might give us an idea of where inflation is headed for the next reading. the last reading in april was steady at 2.2%. >> annette, give me a sense how germans are feeling about their lives at the moment? you would think it was pretty good. gdp came in pretty good. close to record highs for the stock market. wages are still rising. we are going to be getting that rate cut and then, of course, the european championship this summer. are we in for a positive

surprise on the football and the economy this year? >> reporter: p well, i'm not an expert on football. i don't think so. the general morale, in germany, carolin, is not great, but it is also the real estate sector. that is one of the crucial issues here that rents are on the rise despite the fact that real estate prices are declining, especially in the mid-market and lower-market segment. not so much in the luxury market seg segment. that is a headache for people here on the ground. people are scared about the future. that is probably a very specific german attitude. despite all of the positive factors which you mention with the morale in germany is not great. the outlook for the economy is actually improving.

we have a parallel world, i would say, where the consumer is relu reluctant, but the industry seems to power ahead. >> annette, thank you. point taken on football. i'm not an expert either. let's hope for the best for germany and all of the other teams. coming up on the show, we will be speaking to former anglo gold bobby godsell ahead of the elections. stick around for that. 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. 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

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welcome to "street signs." i'm carolin roth and these are the headlines. astrazeneca shares move higher as the pharma suit cal giant's cfo says she is confident on the outlook. >> we have ambitions with the $18 billion because of the breadth and scale of the portfolio today. we expect to have 20 potential new drugs by 2030. many of them have the potential to be $5 billion drugs.

markets in europe are tailing off and u.s. futures are muted after the nasdaq closed at the fresh all-time high as investors focused on the fed's next move. and more signs of easing as german producer prices fall more than expected amid softer energy rates. president biden hits out at the international criminal court after prosecutors threaten arrest warrants for israeli prime minister benjamin netanyahu and three hamas leaders over alleged war crimes. >> there's no equality between israel and hamas.

good morning. bigger declines for the cac 40 tothe tune of .75%. keep in mind, we are very close to the recent record highs. we had the phenomenal run for the markets this year. we are seeing almost double b digit increases for the european markets. what we are seeing today is a little bit of profit taking and uncertainty surrounding the rate forecast. of course, a lot of corporate news to focus on. anglo american backs the company's plan to break itself up describing it as a radical and attractive strategy ahead of tomorrow's deadline for bhp to make a formal takeover offer. bhp shares rose to a high in australia today. look at shares in anglo american. up 8.7% as we speak. south africa is in the midst

of the seventh democratic ele election since apartheid. the vote could mark a watershed for south african politics with the governing anc could lose for the first time in decades. this is amid sky high unemployment and high crime rates and rolling blackouts across the country. yesterday, former president jacob zuma was barred from running for parliament with the constitutional court ruling that the prison sentence of 2021 disqualifies him. it does not impact the campaign at all according to his team. we have arabile with more on the conversation. let me toss it out to you. >> reporter: carolin, thank you for very much. you are highlighting significant factors for south africa.

we are in the middle of the election and the ex-pats voting this weekend. and the election is very important because it is 30 years since south africa got democracy in the first open efficiently vote in 1994. a significant move in a country that has been plagued by so many issues. economically or politically with corruption and the like. power outages and slow economy in the terms of growth. all of those factors have been very important and the bhp and anglo american deal which is important for the country with mining and basic resources being a key factor for its economy. let's unpack the conversation with somebody who has been part of all of conversations with the unions in 1994 and the like and right through to the powers the. we are joined by bobby godsell,

the former ceo of anglogold ashanti. mr. godsell, thank you for the time. i really appreciate it this morning. you have been part of the array of discussions historically until this day with a few people that, perhaps, you may know. how different do you think the situation is in south africa currently looks from where it has been and where it could possibly go considering the political landscape it corurreny looks like and faces? >> good day to you. what is clear is that as you noted the seventh election -- i'm pleased to say we had six elections on time from 1994 and they were peaceful. another single one was contested and ended up in the courts which

is something of an achievement. in the seventh election on the 29th of may, it is the most unpredictable and the most uncertain. it is the first time where there's been any serious question as to whether the dominant ruling party, the african national congress, would return with a 50% plus majority. they have been trading down in the polls for really the last couple months. in recent weeks, they faced a new challenge from the party of jacob zuma, the former pre president. it's very possible they won't achieve a 50% majority. this raises questions of coalition governments for the

first time ever. perhaps, there's a deeper trend here in a way since 1994, south african politics has been relatively simple. if you were a black south african, you voted out of the memory of the shadow and in gratitude for the national congress played from 1912 in helping to liberate you. why south africans instinctively made a choice for opposition part parties. in this lection, black south africans face five parties that are not only black-led, but claiming to speak for black south africans. a wide number of people are facing parties.

we are moving between yurban an rural. it could lead to coalition governments. in the medium-to-longer term, it will lead to new political groupings. >> south africa's experience when it comes to political or rather province politics, do you think anything can get done in a coalition government for south africa? considering the priorities for the country are many whether it is corruption or the power crisis or overall growth or alleviating poverty? >> i think, in a way, the voting outcome in a number of provinces, particularly here where i live, are going to be as

important as the national outcome. in those from two provinces, i predict the emergence of co coalition governments. it is all if they are effective people and shared values and not just marriages of political convenience. i think there's a chance of good, strong, stable coalitions emerging in those provinces. apart from anything else, could be a prediction of what happens in 2029. please remember south africa goes to the polls again in 2026 to elect 270 municipal councils across the board. without a doubt, again, coalition politics will be a

feature of those elections. >> mr. godsell, it is carolin in the london studio. we have a lot of international viewers with allocations watching this show and interview. i'm thinking and wondering how you think investors should be looking at south africa. we know this election is one of the most closely watched in the world with so many elections going on. we also know that the south african rand has been one of the best currencies so far this year. the market has been long on the currency. do you think there is too much optimism there given the amount of challenges facing the country? >> i think when we think about country risk, i would suggest two possible scenarios for south africa in the next five years. the most negative scenario is that we continue as we have for

most of the last 30 years, particularly in terms of economic growth rates. i think the level of economic growth in a country with a very young population and a very high level of economic unemployment and high level of poverty is absolutely critical. we had five very good years from 2002 to 2007 when we grew above 4%. unemployment dropped from the mid-30s to the mid-20s. poverty also reduced. if over the next five years, it was possible to sustain a growth rate of between 3% and 4%, this is not a china or india growth rate of 10%, but a population positive growth rate of 1% to 2%. i think all sorts of things will improve in south africa. even, however, i must say in

negative scenario, i do not see a regime change or attempted coup or widespread violence or risk. actually, the last 30 years have been one of dismal economic performance, but of broad-based political stability. >> mr. godsell, we have to move on with the oil deal. bhp, according to shareholders, is not offering enough. how much is anglo worth? should it sell itself to bhp? 12k3 >> i'm afraid i'm not an investor in either company. i don't think my view about price would be any way

informative. i will offer two suggestions. i think the underlines debate, the mining conglomerates with rio and bhp and anglo, to have an iron in many fires and mining many different products -- what is interesting about the anglo and bhp deal, both the suitor and the subject company are moving away from multi-product mining and wanting to focus oddly enough, the same commodity, copcopper. they are looking to move out of other critical areas. for example, platinum and iron/ore and, indeed, diamonds. i think the choice that investors have to make is which

management team, bhp or anglo, team do they trust for a common strategy which is move to a copper dominated commodity focus. >> mr. godsell, does south africa have a lack of alliance on anglo american? the mining industry has changed in south africa. do they have to focus elsewhere as a country to find the growth with anglo no longer being as impo important? >> the fact of the matter is for the last 30 years, they have looked elsewhere. if you looked at the johannesburg stock exchange, the top 40, our equal to the lseg top 100, these companies are

dominated by telecommunications and i.t. companies and financial services companies. mining companies play a small role in the johannesburg stock exchange. it has already moved on. i think the challenge for south africa, twofold challenge, is to fix economic infrastructure and energy and transport in particular and then to find growth industries, particularly on the mining side where there is new minerals. lithium, for example, being green energy minerals. it is finding new industries. tourism and services remain incredibly important. i'm pleased to say at least in the area of tourism, there's been significant improvement on visa issues and we are seeing

tourism numbers grow right now. >> reporter: mr. godsell, i appreciate the conversation. it is an interesting time for south africa and the mining sector as a whole, not just for south africa. i appreciate your time as well being part of the industry for a number of years. bobby godsell, the former executive chairman of the power utility in south africa and the former ceo of anglogold ashanti. carolin, back to you. thank you. the international criminal courts is seeking arrest warrants for prime minister benjamin netanyahu and defense minister along with three hamas leaders over the ongoing war in gas agaza. we have dan murphy with more.

there was a strong rebuke from the president. any implications here for mr. netanyahu? >> reporter: carolin, good morning. quite a few implications. it is not just prime minister benjamin netanyahu and his defense minister on the icc arrest warrant list here. it is also the senior leaders of hamas who have played key roles in the ongoing war in gaza. they include the leader of hamas and mohammed al masri and ismail haniyeh. netanyahu has called the allegations against him absurd. president biden said it is ridiculous they were grouped together with the same charges. we have seen significant pushback on him. what made this high profile,

carolin, is the icc says the charges supported by evidence by the panel of evidence which included the human rights lawyer amal clooney. this received a lot of traction and criticism along the way as well. they are serious allegations. they include starving civilians and willful killing and attacks against the civilian population just to name a few. here's the skinny on this. i spoken with analysts today about what the implications could be. they say don't expect too much from this. that's because israel is not a member of the icc. the court itself is not part of the u.n. agency and most importantly here, it relies on member states to enforce decisions as well. this is not enforceable. that is critical here. what it does say is the pressure on prime minister netanyahu to avert course in the war is

growing and clearly the international community and law community is watching closely. >> dan, thank you for that update. still coming up on the show, microsoft takes the laptop fight to apple launching a fresh range of a.i.-focused pcs. we will have all that mi ucongp next. don't miss the conversation. when we started our business we were paying an arm and a leg for postage. i remember setting up shipstation. one or two clicks and everything was up and running. i was printing out labels and saving money. shipstation saves us so much time. it makes it really easy and seamless. pick an order, print everything you need, slap the label onto the box, and it's ready to go. our costs for shipping were cut in half. just like that.

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microsoft has announced a new category of pcs with a.i. features. microsoft announcing a surface laptop and tablet that will be able to run some a.i. tasks without an internet connection. let's get more on the microsoft event and expectations with the chief of enterprise research at ccs. great to have you on the show. what are your expectations here? what have you seen that ex exciexcitie what have you seen that ex exciexcxcites you or not? >> it is a microsoft event for

the developers. we will expect to see a lot of the announcements around a.i. and supporting developers in what a.i. will do. a.i. has been big and generative a.i. has been big. what we are seeing in the market is people want the real backing. last year was about expe experimentation. it really took the world by storm. people are starting to see and our data shows productivity benefits or capabilities or improving work flows. all of these great things everybody is talking about. not just microsoft. i think we are going to start to see new solutions. that will be great. we will see updates on the really strong solutions. i expect because it is not on the until this afternoon or

morning or afternoon in europe. i suspect we will see a lot more around the azure platform and azure a.i. with the updates. i think the focus will be on bringing together and really showing what's real. what it is capable and what people are achieving today and what is actually happening. i expect as we have seen in other conferences that people will showcase real-world examples. we will see a lot of customers and partners and solutions and taking it to the next level. i think there will be really exciting capabilities, but i think from the developer point of view, it will be about helping developers and helping go to the next step and really allowing them to deploy easily. for my perspective, it is the developer conference. we will see really new features.

>> bola, 2024 is really going to be the show-me year. what can a.i. actually do? i want to get to another angle here. there was a great headline in "the new york times" overnight. can a.i. make pcs cool again? can it? >> i think so. a.i. has been making pcs cool. it is already in pcs. what we are going to see is the next level of capabilities. this has been -- certainly the news around that has been said about what's come out on the copilot plus. it raises the game. sorry about this. we have seeing that across the board and across the ecosystem. i think we will see really exciting things. we are seeing it on devices. we will see it in the pc.

i think this is really the moment of actually giving it in the hands of the people and seeing what companies can do with the a.i. and pcs. >> bola, thank you for your insights. chief of enterprise research at ccs insight. we will leave you with the quick check of the futures. the s&p 500 is up by a modest 4 points. dow jones industrial average could add70. nasdaq is seeing losses at the start of the trading session. i'm carolin roth. "worldwide exchange" is up next. see you tomorrow. bye-bye.

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it is 5:00 a.m. here at cnbc global headquarters. i'm frank holland and here is your "five@5." tech hits a fresh all-time high as investors wait for the more than earnings report which is nvidia. and microsoft has a release for a.i. pcs. and a number of retail reports out today and later this week is headlined by target and lowe's. and musk taking issue with his pay package.