that's all for this edition of "dateline." i'm andrea canning. thank you for watching. hello and welcome to "street signs. i'm carolin roth, and these are your headlines bhp calling for more time, seeking another extension to take over talks with rival anglo american, as it tries to address regulatory and competition concerns. european equity markets tilting to the downside while there is a strong surge of data prints out of the u.s. turning to the latest inflation print due out of germany.

the imf upgrading its outlook in china after a stronger than expected first quarter. and south africa heading to the polls in what's set to be the country's most competitive election since the election of the apartheid with the majority hanging in the balance good morning, everyone we've got a very busy show for you, so let's kick off with the euro the second strongest stage german bavarian cpi for the month of may up 1.1% versus 2.7% year on year that compares to 2.5% year on year in the month of april a little bit of an uptick here,

but that was by and large expected, given that we are seeing a bit of a base effect coming from a rail ticket, the germany ticket, from last year now, we're going to get more inflation data it's shaping up to be a busy few days on the data front with a slew of inflation prints and gdp expects. the fed's preferred gauge is out on friday. ahead of all of that data, let's get a quick check on how the equity trading is going. we're under water. a loss of 0.6% yesterday it doesn't sound like much, but that was the s single biggest decline on month that's putting pressure on

equities state side for the dow as well as the asian trading session. i want to show you the markets one by one, because what we're seeing here is this. red across the boards. the ftse 100 is off by 1.2%. a couple of interesting stories to tell you about. the xetra dax is off by half of 1% as well sector-wise, airlines are lower. take a look at this. it's not actually on here, but it's actually one of the worst performing sectors why? american airlines slashing its sales outlook. oil and gas is currently the only sector eeking out a respectable gain of 0.8% of course, a lot is happening on the potential m & a front, because bhp has called for an extension of its deadline to make a firm offer to buy

anglo-american today as it proposes its billion-pound deal. we have a lot coming up and someone waiting on the line. a lot to dissect with the analyst. meantime royal mail has agreed to a 3 pnlts 6 billion pound takeover offer from tech daniel kretinski which would give 3.6 pence per share. we saw yields rising across the board yesterday. currently the bund yield sitting at 2.6%. it had been closer to the 2.5% for it to take out the 2.6% level, i think that's a pretty big deal actually. the 10-year gilt yield at 4.31%.

we're going to be talking about uk elections later on. first let's get back to the eurozone let's talk about the inflation outlook and ecb and anything beyond that. thanks for joining us. i'm taking a check of wage data coming from germany. german workers seeing a record rise in real wages in the first quarter, and with the impending ecb cut by 25 basis points, which is factored in for next week, can the ecb really declare victory on inflation if we see wage data trending to the upside >> no one can declare victory on inflation. if there is anything we have learned in the past few months, in fact, in the past two years is that inflation is unpredictable. for anyone to declare victory on inflation, you need to have years of good inflation behind you, and even then, central banks have always said they were worried about a pickup in

prices. can you declare victory on this bout of inflation? no. and we know this from the pmi numbers last week. we see price pressures creeping up at the producer level, and that is sure to have an effect on overall inflation. and, ovg, wage inflation is very difficult to get down. once people have been through a large period where they were -- they have very few wage rises, now they have the kourmg go up to their boss and say, well, i want more money, and i see unemployment this low, and so you don't have many options. once you get that mind-set, it's very difficult to turn the clock back. >> is there a certain scarring effect, though, when it comes to

the eurozone economy? we were looking at double-digit inflation almost for many of these european countries. now we're back closer to the 2% level, and that's fantastic news, but how are consumers feeling going forward? >> so, consumer sentiment has been consistently improving in the past year or so, and we do see this from a very -- from a number of metrics. of course, having said that, it is still where it was, but it has been consistently improving. now, although this has been happening, retail sales both in germany and france remain more or less under water for a large part of that year, so even though consumers tell us, okay, i feel a bit better now and i'm more happy to spend money, this has not been translating into a surge in retail spending. that has to do a little bit with the idiosyncrasies of central

european consumers, but there is a scarring effect as you put it. people may be deferring large purchases because they're afraid that inflation will be picking up and, therefore, they need to save money to pay more for the things they need on a daily basis. >> george, on that vain, i'm wondering how much can a 25-point basis cut next week really do in terms of the business environment but also in terms of the consumers. >> not much. even in theory, a rate cut will need 9 to 12 months to be transmitted into the real economy. you know, a lot of things can happen in the next -- in the next year or so. a 25-point rate cut doesn't do much. the ecb's problem is even if it wanted to do more rate cuts, it really can't until the it gets

going. if it does. it tells of the risk of capital, which is exactly what we saw in china. so, you know, if you have a rate of 2.5% and the fed has a rate of 5.5%, then money will leave europe and go in the u.s., and good luck getting it back. so the ecb can do many cuts, and that's the cut. 25 bips, 50 bips within a year, it can't do much for the economy now. they can't do more than that because they're afraid they might lose deposits. >> george, to that point, there's a much bigger competitive issue here when it comes to the eurozone economy and the u.s. economy. so many reports in the last couple of weeks and months about the lack of productivity. european workers not wanting to work that much. the lack of big ai companies being here in europe, the rate cut in monetary policy won't

change that, will it? >> no. the latest report exemplified just that, productivity in europe has been significantly waning, and if you look at the number of iowa patterns, europe is nowhere on this chart. it's the u.s. and china, japan, struggling to follow, and all european countries are behind that. europeans are more focused on regulating ai rather than developing one. >> often they want to regulate first and innovate later. i'm just trying to think positively here, glass half full, george, because there 's got to be something good going on for the european economy in this overall daunting economy. overall china is seeing a better than expected growth outlook. is that a bright spot? not necessarily because the

europeans, especially the germans, are being pushed to trade less with china as part of the trade wars that were initiated in the united states, and now they're being forced to pick. so, you know, if you're the chairman state, first you're forced to ban russian gas and now you're forced to pick sides when it comes to trade, and, you know, they will be obviously hovering toward their atlantic partners, okay, but, when all is said and done, it is obvious that europe is in desperate need of a new productive model. the only silver lining that i see is that this sort of crisis has forced both mr. macron and mr. shults to how there can be a capital integration and the next day for leadership, which mr. macron has been very adamant

about in his latest economist interview. so at least they're seeing the crisis, and they understand that leadership is the only way forward, okay, and -- leadership and renewal. so this is the bright spot that i see, but it does not come from any sort of cyclical data. i think just now that leaders understand the agency for europe to reposition itself in the world. >> george, thank you so much for your insight. real interesting perspectives here and views from george lagarias, chief economist at mazars. the recent german data, the full print will be out at 1:00 p.m. uk time, 2:00 p.m. european time. the nikki is off. the shanghai comp eeking out a marginal gain here. the imf has raised its growth outlook for china.

it now sees the country hitting its growth target of 5% for the year up from the previous forecast of 4.6% made last month after stronger than expected gdp data in the first quarter. it could grow 18% in 15 years if they strengthen productivity and create a good environment businesses. a quick look at u.s. futures. hey, they're looking decidedly negative. the s&p 500 off by 25 points, the dow jones seen off by 160 points. this is after the dow jones trading pretty much or ending pretty much slightly lower to the type of 0.5%. the nasdaq crossing the 17,000 level for the first time yesterday. once again, nvidia powering that market higher once again. traders are now pricing just under 40 basis points of fed rate cuts this year.

that's according to lseg data, and our split close to evenly on the chances of a first cut in september. now, friday's rating of the fed's inflation gauge could prove pivotal with economists polled by reuters expected that core and headline pec will be growing. still coming up on the show, bhp calling for a deadline exception as it continues its pursuit of rival anglo-american. we'll have the details next. don't go away.

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you could save up to 70% on your wireless bill. so you don't have to compromise. powering smarter savings. powering possibilities. let's get you up to date with some of the m & a stoiries we'r covering today. royal mail has agreed to a 3.6 billion takeover order from kretinsky. it represents a 73% premium to its closing price before

kretinsky's previous offer. shares up by 3.5%. now comes the big story of the morning. bhp has called for an extension to make its firm offer. it's put forward a range of measures to ease anglo americans' concerns over a 39 billion pound deal and was willing to discuss if the deal is not cleared by regulators. anglo american shares down a touch by 0.86%. john, we haven't gotten a response from anglo american just yet. what do you think they'll do? >> look, i think they're running around trying to figure this one out. it really depends on how much anglo want to do the deal because there's a lot of work to be done before this can go through.

bhp has a lot to do in the south africa sector such as maintaining r & d, an office in johannesburg. looks like they're going to help buy shares for others. so they're making lots of noises saying no one in south africa is going to get disadvantaged in all of this. what that means is the pressure is on anglo american to accept an offer. and i think at that point, bhp would then formalize the offer because bhp really need anglo to be working hard to make this deal work. at the moment bhp shares have been going up and anglo american shares going down, indicating perhaps this will not happen, they won't go ahead. but it's a 50-50 right now in my view. >> all right.

it's a 50-50 chance as to whether this deal will actually go through, john, but i did get a sense that anglo wants this deal to go through because, you know, obviously there's been concerns on the part of some of the biggest shareholders here that anglo has really engaged with bhp. maybe they want to do it their own way and break up the company. >> there's been a bit of engagement. i mean one week's worth of talks isn't very much for a deal at this scale, and they didn't want to talk before then, and it wasn't -- it feels like it was a very much unsolicited offer. and the ceo of anglo has made it perfectly clear he reckons he can create more value in anglo american than, frankly, if i was a shareholder in anglo, i wouldn't be in this for jump a small premium from bhp. i would be buying anglo shares for a much, much bigger uplift on the back of higher copper prices and higher other

commodity prices that are sure to come. so i'm not convinced this deal has that much rationale behind it, and i wouldn't be surprised if it fell away and anglo said, sorry, guys, we reckon we can create more value on our own. >> do you think they can, a breakup of the company as they've outlined a couple of weeks ago? that's bound to be messy. it could take forever. the plan to focus on some of the core businesses probably ten years ago and not to fully materialize. can anglo really do it on its own, and would that translate into a material copper uplift? >> i think you're right. big transactions like this are quite difficult to work in reality. yes, there are some balance sheet gains and you can always point to a billion dollars of synergy here and there on the accounting side, but in the reality, with the boots on the ground, making this work is going to be quite disruptive.

i'd much rather see bhp put, you know, $10 billion worth of equity into finding and developing new copper mines rather than buying anglo. what they've worked out is that it's actually cheaper to buy more copper production via buying an gloe than developing their own new minds and running the risk of cost overruns and everything that is involved with the developing of very large new projects. so it's -- but i still think it's -- i still think it's doable. i think that's where management should earn their craft is by finding and developing new projects. >> but, john, you know what, this deal is very much predicated on a sort of super cycle in copper. we saw the big bet taken by a hedge fund manager recently. he's calling for 40,000 in terms of a price tag for copper. are we in this super cycle for copper? i know we're going through the whole electrification age, but maybe those hopes for the

electrification and the use of copper in all of that, maybe they're overdone. >> well, the last big run in metals prices from 2003 to 2006, 2007 was on the back of chinese gdp growth. we still have got that level of growth, chinese gdp growing at about 5%. and we've got the elec electrification of not just the western world but the developing world. in fact, china is selling evs all over the world. india has a huge market. indonesia and other southeast asian markets are growing fast. there's going to be so much grid upgrading, wind farms, solar farms, so i don't want to say the $40,000 for copper is not achievable, but certainly higher prices are coming, and bhp is looking to get ready for that. >> john says higher prices are

coming. bhp, if they can go ahead of this, if anglo american isn't going anywhere, are they simply going to go for another copper player or will they just wait according to takeover rules, see what anglo does depending on the breakup, and come back with another offer? >> anglo is a little bit of a beast to acquire for various reasons. it would be simpler to go for another copper companies. there are a bunch more ways without developing their own. i think on the one hand, i do think there's lots of other m & a opportunities out there for a company who wants to acquire rather than build. >> other m & a opportunities, but nothing as valuable in a way

and nothing as cheap when it comes to the uk valuation as anglo, correct? >> yes, that's how it looks at the moment. >> anglo, what would they be doing to look go build other copper mines elsewhere? how feasible is this, john? >> certainly the offer is mandated to push ahead with restructuring and refocusing the group, and that's all good. i think he will create a lot of additional value for that. i think as part of that, he'll focus things toward the latden america copper side of things. they're looking at zambia for more organic explorations. i think that's the right way go. actually, i like anglo american

as a stock to buy from that perspective. yeah. they're cheap. that's why bhp wants them. maybe they might come back in six months' time, but i would hope that anglo has built a bigger rating by then. >> john, thanks so much for your insights. i really appreciate it. john meyer with angle. hess shareholders approve a $53 billion sale to chevron. exxonmobil has challenged chevron's shares of the drilling cons consortium. conocophillips is in advanced talks to buy marathon oil.

a deal appears to have been imminent last night. there is still word talks could emerge. shares in american airlines are lower in the extended trade after they issued a profit warning for the second quarter, the flag carrier blaming a weaker pricing power. they now are at $1.5 a share. i read an article about the end of revenge travel by americans. now, still coming up in the show, polls open in south africa if what's set to be the most competitive election in years. we'll have a live report from johannesburg next. don't go away.

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next week. bhp is seeking another exte extension in takeover talks. the imf upgrading its outlook to china expecting to hit its 5% ground this year after a stronger than expected first quarter. and south africa heading to the polls in what's set to be the country's most competitive election since the end of apartheid with the a nbc's majority hanging in the balance. good morning, everyone. if you're just tuning in, a quick check of theic request ity market trading action in europe for you. the foottse 100 down by 0.2%.

once again it was the single biggest drop for the european markets. we're still close to record-high. some of that may be profit-taking but we're seeing yields high across the board, and that's been putting some of pressure on the equity pressure and risk appetite overall. when it comes to the markets, the euro a little by lower. we're getting eurozone inflation print in a few hours' time here. we're expecting a bit of an uptick here compared to the last month's, but that's down to some base effects. u.s. dollar/yen, 157.12. when it comes to european yields, we're seeing yields high across the board. once again, i want to single out the 10-year bumd yind yield at . we'll talk much more about the

uk election outlook and the fiscal space that the uk has in a short while. when it comes to treasury yields, hitting a four-week high in yesterday's trading session, the market expecting only 40 basis cuts by the fed this year. yesterday we saw that sharp improvement in consumer confidence in the month of may. u.s. futures look like this. pretty negative at this point in time. we are expecting the dow jones to fall by 140 points, the nasdaq's seen off by 19 points. this is after nasdaq crossed the $17,000 level for the first time yesterday. now, germany's france said western ukraine should be allowed to use missiles at mir tair sites, however, they stressed other targets were off

limits. macron and scholz made a three-day visit to europe. now, the leaders also addressing the recent israeli strike on a camp of displaced palestinians in rafah. >> translator: i'm overwhelming by the images we're seeing, shocked by what we're seeing in rafah. the response must be a political action, an immediate cease-fire. >> reporter: yesterday we heard of a tragic incident in rafah. a camp was targeted. many innocent people were killed. this is as right as it is necessary. this case shows once again why germany, like many other countries, has spoken out against a large-scale ground offensive in russia because there cannot be sufficient protection of civilians there.

meantime another president gave his own thoughts on cnbc. >> translator: yesterday's visit clarified how enthusiastic the french are about our relations. it needs to receive more attention. we need to invest in that relationship. france has a different view and economic policy and that's clear from our discussions. but the joint corporation in the last few decades has nevertheless been to defy common ground. his statement was if we have created a european champion, for instance, in the ai space, then we can start to regulate. we're still trying to set up a comprehensive and detailed situation. here he's completely correct. >> let's change tack. voters are going to the polls today. fifi joins us now.

this outcome could be historic, fifi. >> certainly so, caroline. if we look at the ruling party in the previous elections, since the democracy, they have been able to garner 60% of the majority of the votes in all of the national elects we have had. that was up until 2019 when they would see their share of the vote. the predictions are on most scorecards that it could fall even lower for the anc government. essentially what africans have been doing since 7:00 when the polls opened and what they'll continue to do until 9:00 when the polls close, central africans have to vote for a new 400-member of the national assembly. currently the anc holding around 230 seats, but not expected to

maintain these. in fact, some i was speaking to yesterday, they're saying in the event the anc does drop below that 50% majority and manage to garner around 185 seats or so, they'll find themselves in a position where they'll go into a coalition with a few smaller parties. so the thing is while we are talking about coalitions being the likely scenario of south africans, a new democratic order as it were, the coalitions can be messy. i was also speaking to a political analyst who is here at the national operations center where i'm standing, caroline, where we will see the results on the screen after 9:00 p.m. when the voting stops. what he said is that coalitions can be messy, and there is a

concern given the fact that the economy does find itself on a weak footing, and here's a concern whether the economy can afford any further setbacks at this stage given the unfavorable metrics we have continually been reporting on when it does come to jobs, when it comes to growth, poverty, and inequality. with that said, south africans do want change. they're looking for something better, and that speaks to the voter registrations we have had this time around, over 27.7 million south africans. to the extent you have a large turnout, that speaks to a consistency of wanting to take charge and that's hopeful. >> thank you very much. now, in the age of ai, new technologies are finding solutions to decades of human problems from simplifying complex data to automating

repetitive processes. but what if new technologies could push decades of medical research in just a few years? arjun has been talking to a company that does just that. neuroelectrics uses brain-mapping technologies for new developments of common brain disorders. take a listen. >> the device should read the electricity of the brain. the areas we focus on are clearly electric? >> terms of the headgear itself, can you run me through how it works? >> first there are stages where to gather the data. we try to build a replica of the geometry of the brain but also the electroactivity that goes inside and we send that to a tablet, to the doctor. you go, put your headgear on.

maybe you need help for the gel for the electrodes and you push start. it's 20 minutes to an hour, sitting and relaxing. then you take it out. >> i couldn't help but try the headgear myself. first we measured the electrical activity in these two frontal electrodes. you're seeing these occasional spikes on the screen. what is that in response to? >> these are in response to your eye blinking. >> shall we try it? there we go. two big strikes. then we generated electricity into my brain. >> it will stimulate you in 15 seconds. in the beginning you will feel itchness. we want to make sure everything is well connected. i press start. you will start feeling

electricity going off. it's going from one electrode to the others. it's passing through the frontal area of your brain. >> i can definitely feel it. tifficly if this was a proper patient, what would be the end result? >> we would have a question for the patient. before and after stimulation. >> do patients have to do anything specific? >> sometimes what they do is prevent the patient from sleep. so you could see that there's more problems when you sleep. if we want to see if there's more problems like suffer parkinson's, let's say, maybe we do a specific test. we need the brain to be in a specific state in order to predict. >> you can watch arjun's full interview on the latest episode of cnbc's "the edge," 20:00 ct.

and clare pleydell spf bouverie will be on. still coming up o then show, the uk will head to the polls in just five weeks' time, but what could the election mean for markets? we'll break that down for you after the short break. 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

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welcome back to the show. ocado is set to drop out of the ftse 100. the retail stock has fallen over 45% year to date. meantime the dangote group could be relisting its refinery

unit. they were quoted as registering their interest in a dual listing. the $20 billion refinery is the biggest in africa, processing up to 650,000 barrels per day. meantime senior british politicians have called for greater scrutiny of fast fashion giant shein. they have warned against the move and want further scrutiny of shein's supply chains. uk's shadow chancellor rachel reeves has ruled out making tax rises, himming that the next big fiscal event would not take place before september. the shadow chancellor outlined labor plans to issue a new fiscal lock and corporation caps

would be capped at the duration of the next period of parliament. >> i know the stwhy the stabili matters in the battle against inflation. labor will not play. i will not play. the torey game of undermining the bank of england. i'll introduce a new fiscal law so any government making significant and permanent changes to tax and spending will be subject to a forecast from the independent office for budget responsibility so that there is never a repeat of the mini budget. stability must mean something else, too, and it's something i've heard from business time and again about how important this is. certainty in our tax system, which is why we have committed

to the publication of a business tax roadmap covering the duration of the parliament within the first six months of a labor government, and it is why corporation tax will be capped at its current rate of duration of the next parliament. that's the lowest rate among g7 economies. meantime prime minister rishi sunak spoke out against labor's plans, claiming they would put more pressure on families. >> the only certainty with the labor party is they're going to rupp out of money and put up your taxes as clearly as night follows day. the officials at treasury have crunched the numbers. they've talked about all the ways they want to spend money and how they're going to pay for it and how much it's going to cost you. it's going to cost 2,000 pounds each from everyone in the country.

that's not going to bring financial security to you and your family. let's take a look at the most recent polls. the uk's labor party has extended their lead, 27 points in a poll from "sky news." the tories lag behind at 20%, only proving more favorable with over 65 and these who voted to leave the eu. a lot to unpack with simon french. let's get back to some of the comments from rachel reeves. she says no tax here, but something will have to give. she's ruled out the tax increases. what happens to borrowing and spending? >> she's putting a lot of weight on secure economics, which is her brand, yielding something of a growth dividend. what she talked about in her

speech is the uk economy being 150 billion pound as year, smaller than the rest since 2010. then she translated that into the additional tax revenue, about 55 billion pounds that would have yielded. she didn't it lickspecifically but she said it's going to be a growth uptick, which will make it much more easier. >> is it likely though? i now owe addressed by and large, but that's pretty conclusive. >> it is. since 1955, quarterly economic growth is almost identical shy of 0.6% per quarter. for either party based on historical data isn't really plausible, but -- i'm an

economist. of course there's a but. you have to acknowledge that the last 15 years has seen a series of big economic shocks, the fallout from the financial labor crisis, the war in ukraine, the covid pandemic, and the self-inflicted impacts of brexit as well. put that all together, you can make an argument that if you don't have that combination of bad luck and bad governance, you will get higher growth going forward. i think that's a reasonable argument she's making to the elec electorates, but she hasn't got historic data on her side. >> that is a blue sky scenario, but what does the business community look out for? what does it need to see delivered by the labor party to make sure this is a probusiness party. it doesn't tell us a whole lot right now, and we don't have the manifestos just yet. what do you want to see on the policy front? >> i have a lot of clients saying to me, simon, can you tell us some of of what to expect on what she spoke about

yesterday and natural wealth fund. planning reforms. what i have to say to clients is there isn't an awful lot of detail at this stage on the naughty trade-offs. how is it going to be sanctioned? planning reform, how are you going to talk as she does warn in part of her speech about local deviations in certain areas but planning building targets. so there's some contradictions in there, gaps that need to be filled in. it may provide some parity. but to go back to the 2017 election which theresa may fought, she introduced quite a controversial proposal in social care, which was dubbed the dementia tax. that polled very badly. the lesson from that period is if you provide a level of detail on a really naughty issue, the

public may not like that, and it gives the opposition an opportunity to pick off your scare stories around your policies. so i'm not holding out too much hope that we'll get great detail on election night. >> maybe that doesn't matter. maybe they're ahead in the election polls. maybe they don't have to provide that granular detail. i want to go back to a comment she said yesterday. we can be a pro- pro-business/pro-worker party. >> yes. >> can you plan on that? >> i think there are people in the parts who are uncomfortable with too many parallels. you have seen president biden talk about more union jobs closer toions, more states attracting industrial policy, and yet, simultaneous to that, the u.s. economy has been growing very strongly looking at the statehousehold sheet and

balance household sheet. but growth and a stronger rope between unions, workers, and corporates has been possible thus far, although, i think the most salient argument is whether the rules governing the u.s. economy is applicable to smaller companies. >> we only have one minute left for your last answer here. how does london get more listings back to london? >> i was interested in your intro about shein. >> you're not speaking to the right person on pronunciations. the fashion brand. look, the pension sector in the uk has underallocated in the last decades. i think the government is prepared to be comfortable with home buyers. >> simon, thank you so much for your input here. simon french, chief economist. a quick check of the european markets equity trading

session here. we're roughly two hours into the session, and we're still seeing quite a bit of red here. the smi off by 0.2%. the xetra dax off. we're still waiting for the german inflation print that's coming out in a few hours' time. we had some regional inflation prints, and they were somewhat mixed, and the euro fell on the back of some of that. but in taererms of the overyaum german inflation rate, we're expect an uptick of 2.6%. we have seen yields across the board that very much apply to the u.s. trading session when we saw yields hitting a four-week high yesterday. keep in mind we also saw a sharp improvement in u.s. consumer confidence in the month of may, and that caught a couple of people wrong-footed. the market expecting rates to be higher for longer. this is why we're seeing yields higher across the board.

and the market pricing in lesser than 40 basis points. u.s. futures looks like this. a whole lot of red. the s&p off by 23 points or so, the dow jones seen off by triple digits, 144 points, and the nasdaq, even though it crossed 17,000 in yesterday's trading session, ending at another record high, seen losing, a little bit down by roughly 95 points. now, nvidia, of course, that was the big story yesterday, up by another 9%. let's see what it does today. that's it for today. i'm caroline rocket. "worldwide exchange" is up next. we'll see you again tomorrow, same time, same place, bye-bye. 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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it is 5:00 a.m. at cnbc global headquarters. i'm frank holland. here's your "five@5." pulling back with the nasdaq at an all-time high and the other major indices very close to records of their own. trouble in the skies. american airlines sinking ahead of the open and dragging down the entire airline sector as high-flying consumer spending appears to be softeningle. big oil, big deal. the m & as showing know signs of easing as conocophillips looked to make a deal with its riva