that's all for this edition of "dateline." i'm craig melvin. thank you for watching. [music playing] welcome to "street signs," everyone. i. 'll silvia amaro, and here are your headlines. tuesday moves lower while u.s. futures point to a higher open on wall street. investors are eyeing where nvidia goes from here after shares bounced back from a multi-day half a trillion dollar sell jaufl. volkswagen shares sent off although shares in the german

carmaker hit a bump after it announces an investment up to $5 billion after the startup. meloni steps in. cnbc sources confirm they're set to stay. the leader of france's three political blocks clash in a tv debate, accusing each other of unrealistic spending promises. >> translator: the difference between my competitors and me is that i'm prime minister and i don't want to lie to the frens. . i don't want to promise them the moon. >> translator: i'm hearing you, littering out budget discipline despite you now have the biggest debt in the eurozone.

welcome to "street signs" on this wednesday morning where we're seeing european equities trading higher. we have the stoxx 600 currently up by about 0.6%. a totally different narrative from what we had seen on tuesday's session with the stoxx 600 ending the session down by about 0.2%. now, we know there's a lot in the minds of investors this week. it's quite heavy when it comes to some of the political developments. yesterday we had that important french debate ahead of the first round of voting, but we're going to see more this week here in the uk, but also stateside where we're going to have joe biden and donald trump facing off on thursday ahead of the election also in the u.s. but there's more. on friday we're going to get pce data out of the united states, so investors are considering what this might mean in terms of rate cuts for the fed if we're going to get any this year. fed officials are sounding quite cautious for the time being.

then let's not forget about some of the corporate stories as well that we are tracking this week. let's take a look at the sector so we can dive into more detail. let me show you for the time being. we have the cac 100 trading at 5%. a lot of speculation and concerns among some senates really that the next government in france is going to leave a deteriorating fiscal position. all eyes on that vote as well. over here in the uk, quite a lot of optimism up by about 0.6%. some of these moves are related to quite a lot of interest we're seeing among investors in the uk. a lot of interest when it comes to potential deals in mimine,in in the food sector, and so on.

way tomt take you to the sectors. it is an interesting space this morning. look at tech, the outperformer at this stage. it's up by 1.6%. we have seen investors rotating away from tech earlier this week, but they seem to be back at it. tech was the best performer on tuesday, up by 1.9%. so we'll discuss that in more detail later on in the show. i want to take you briefly to the worst performer at the stage. it is al toews. . some of that has to do with some of the news from volkswagen this morning. the company and the u.s. ev maker rivian have entered into a joint venture. vw will invest up to $5 billion in the tesla rival, which rivian says will help it develop new models and cut operating costs. rivian shares are surging in extended trade, adding around $6

million in market cap if the move is replicated at the open, however, looking at the share price reaction so far for vw, investors not appreciating this announcement, at least for the time being. we're joined with more details on this story. annette, outline for us, why are we seeing shares moving back ahead of the announcement for vw? >> because that's very normal. probably a reaction. the one who trades the money probably trades lower. nobody really knows whether this bet is actually going to pay off. so for now, software jeering at volkswagen is the main problem, i guess, for the company going forward. currently they've put all of their software in one unit, so

that gives you a little more scenario, which is the amount they're investing with rivian. it's big, of course, but it's not like huge for volkswagen. overall it's $1 billion directly and $4 billion more over time. so there's a lot at stake for volkswagen. they need to get their software problems solved, and, of course, the expertise which they're buying into with rivian is something that could help with the problem. already now they're heading up a unit. he's coming from rushian, so he knows the company inside out, which should prevent some cultural clashes in that joint venture as well. the big name is going forward to use the technology and software

expertise from rivian in that joint venture to develop software for all the brands and all the models for volkswagen apart from china and then the next generation electrified, nothing less. so all about volkswagen as saying we want to get things done, and that's why we're doing this. >> very clear. thanks, annette. let me take you to some other corporate stories this morning. looking at deutsche costs, fedex beat estimates for fourth quarter earnings at just over $22.1 billion as the company begins to see the benefits of its cost-cutting measures. just to give you an idea e, we have deutsche post trading at 2.28 higher. when it comes to delivery this

mor morning, it's reportedly the latest list of firms to take over interest. reuters is reporting that doordash made an approach citing people familiar with the matter and said talks ended after an impasse on price. the delivery market cap sits at just over 2 billion pounds with amazon holding stake at more than 13%. that's according to lseg data. we have also reached out to doordash. this is why i was suggested to you earlier some of the moves we're seeing in the ftse today are related to some potential deal-making interest here. let's look at onepoint. they've ended their talks with atoews. their billionaire has discussed restarting interest.

the embattled tech firm says it expects to finalize the deal by july. but let me take you to the u.s. session. we're opening in a couple hours' time. it's been a very interesting session stateside. just to give you an idea, we saw a rotation when it comes to nasdaq. they ended by 1.3%. if you compare that performance with the dow, they were down about 0.7%. the small caps index, russell 2k also finished the session lower. to give you an idea which sectors were performing better, tech was the outperformer by almost 2%. i'm pleased to say that the vice president at state street global advisers is joining us for details. it's been a very interesting

morning for markets particularly when it comes to tech. i'd like to get your initial thoughts on what is the outlook for tech. at the start of this week we saw investors choosing o'sectors for the time being. they seem to be at tech for now. is this going to continue, or is the interest on tech likely to be short-lived? >> yeah. our climates are laser focused on the tech story, silvia. it's been one of our favorite sectors all year not only within the u.s. but u.s. and world sectors, so investors have been very forced to either take a position or not take a position. there's no such thing as sort of not having a view on tech at the current moment. a lot of the technicals are still quite positive, both the put/call ratios and things like rsi for the tech sector.

we've moved on to a couple of different picks mainly because of valuations and positioning. so the valuations we all know remain rich, but these companies in the u.s. have demonstrated they can grow into those stretch valuations, but it's really investor positioning that has us looking at other sectors on a go forward basis. it's such an overweight trade and crowded trade. if you look at the concentration of the top five names in the s&p 500, they're about a quarter of the index, and they trade on a very highly correlated basis, mainly because if you look at who nvidia's biggest clients are, it's the other names that concentrate with the s&p 500. so a little bit of those concerns around the cross correlation, the valuations given where we've seen, we're seeing more and more clients interested in taking profits and coming to a more neutral position on tap. >> very clear. given, however, how crowded this space is, what is the likelihood

that if something bad happens to one of these big tech companies, one of them gives a downbeat update to investors that we could see a correction in the markets as a result? what is the likelihood of that? >> i think it would probably take more than that. i talked about the concentration of the index, specifically the u.s. equity index, but we've seen instances before where on earnings from an individual company, it doesn't necessarily ruin the entire narrative. the narrative remains strong in terms of what's happening structurally with the ai trade. it's the picks trade. it's not necessarily knowing what the services are going to be in the ai story going forward, but they want to own the infrastructure build-out. so i think what you would have to see is not just a

disappointment from the individual company, but you'd have to see the capex across the sectors in terms of the infrastructure build-out around the ai. you'd have to see that reversed. >> it's all about the ai at this stage, isn't it. i want to get your comment. we could be witnessing the health of the us economy. ultimately do you think the fed is too slow in announcing any potential rate cuts? >> it wasn't what we were expecting coming into the year, but this is essentially what, you know, jerome powell has dictated, you know, they want to be data-drivening and the data continues to soften but remains strong both on the inflation front and the growth front. so they've seen it fit to keep rates where they are, and they think you can continue to see a strong ploimts situation and con continue to see inflation coming down. the u.s. consumers continue to be quite strong.

that's why when we talk about ideas, we're talking about moving away from the tech sector and mag sector. we look at u.s. mid caps, small caps and the russell 2000. and we think these are very compelling opportunities and we see the breadth of the trade extend beyond the mag 7 leadership and o'areas. >> right. i'd like to get to your thoughts also on what's happening in the eurozone. the latest pmi suggests that -- well, they disappointed the analysts really. ultimately do you think the data suggests the ecb should cut rates once again in july? >> so europe was getting stronger. obviously the situation in france has been a stumbling block for equity markets. we saw it first with the widening of the ota spreads and now the cac. the reason it's not a widespread

issue in europe but more of a france issue, if you look at volatility and the extension of that between the cac and the dacs as an example, you're seeing it's very much an isolated story within the french market specifically. we still think on a risk/reward basis, given that europe is so undervalued and has been so underloved, the positive signs we're seeing means that europe could still look attractive on a risk adjusted basis, but, again, we would favor more smaller cap equities than larger cap, based on the fact they're on much cheaper valuations and are displaying quality characteristics we would like to see. >> very interesting. i would love to continue our conversation. thank you for joining us. that was ryan reardon with state street advisers. nato alliance has gone ahead

with selecting the next secretary-general. mark has been the prime minister for the netherlands for several, several years, more than a decade really. on top of that, jens stoltenberg, we knew he was on the way out. it was basically a matter of time before all the nay faux members came together and approved mark as the next secretary of state general. and according to the latest flashes, that indeed appears to be the case. coming up on the show, france's main contenders clash in a debate with each accusing the other of damaging fiscal spending plans. we'll discuss after this break. what is cirkul? cirkul is what you hope for when life tosses lemons your way. cirkul is your frosted treat with a sweet kick of confidence. cirkul is the effortless energy that gets you in the zone. cirkul, available at walmart and drinkcirkul.com. i'm andrea, founder of a

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meloni says she does not believe the votes of the u.s. citizens have been considered in the negotiations for the top jobs. she also said the commission risks being supported by a fragile majority that will face challenges. this is quite an important comment from meloni. she was quite frustrated. essentially mellow anyhas felt she's been left out of these conversations, and indeed that's the case. we have the socialists, liberals, and conservatives coming together to approve these names, but when you think about the outcome of the elections, they did obtain stronger support and there was overall a move to the right. and if you think about the names that were put forward and the way the negotiations were held so far, that does not necessarily show the outcome ofl the european elections.

the other side of the argument is that these three parties, the socialists, liberals, and conservatives, they do have a majority in the european council. let's see what happens tomorrow. we'll be there for the european summit, and i cannot wait to hear from the leaders next regarding the top jobs. the leaders of france's three political blocks clashed in a fiery televised debate tuesday over their respective spending plans with each accusing the other of running a ruinous fiscal program. the first round of voting already has taken place this sunday. charlotte rejoins us. what were the highlights from this debate and provide the clarity about what's going to happen in this debate. >> the current prime minister tried to make the case to voters to vote for him because they're

trailing this third position behind the far right and the far left. macron's party was the best vote to block the extreme, the one upholding the republican values. but certainly a lot of the conversation and focus on the economy and finances they had before. the far right and far left turning the argument on its head. suddenly they're the ones attacking the current government for being too lax in their public spending. turning the argument around, that was really the heart of the conversations here. it was interesting because it was three leaders. it was supposed to be a debate by the potential prime ministers, you have the far right and the far left. manuel bompard is not going to be the financial prime minister. they don't agree on who can be prime minister. that's interesting. the second in the polls there.

it's unclear who would govern the country were they to come into power. a lot of focus on the power. jordan bardella focusing on the prime minister, calling him professor attal and he didn't have any lecturing to take from him. governor attal responding actually he was the one party that was not promising the moon to voters. >> translator: the difference between my competitors and me is that i'm prime minister and i don't want to lie to the french. i don't want to promise them the moon. i don't want to make them believe that everything can magically be financed. i'm proposing a plan that is seriously incredible and a two-axis spending plan, earn more and spend less. >> translator: i'm hearing you, mr. attal, littering out budgeting discipline, despite the fact you have the biggest debt in the eurozone and you've created a public deficit of 5.4%. as we speak, the european

commission has just opened up a deficit procedure against us. >> translator: when you hand the rich of this country the gifts that you have, they put that money into their savings account and it doesn't go toward boosting the real economy. so, yes, we have to raise the minimum wage contrary to argument that it will bankrupt the economy. i'm sorry, but every time we raise the minimum wage, they make the same arguments. >> we'll have more on the french election no doubt as we approach the first round and second round in early july. charlotte, stay with us because next we're going to talk about luxury and retail fashion as well. the resale collective says it's targeting another but not before it becomes profitable. that i launched a crowd funding campaign earlier this year aiming to raise at least 1 million euros. i'm pleased to sayimilian is

joining us. thanks for joining us on the show. my first question has to do with exparnding across europe and ultimately if you can suggest a potential timing for an ipo. >> good morning, thank you for having me. we're currently present in 70 markets, a large amount of those companies being based in europe, but the biggest market is actually in the u.s. from a footprint perspective, we're in credibly global. with regards to an ipo, i think i'm not the one deciding when it normalizes. it's not what i want but what the market allows. there's no immediate plan whatsoever. from our perspective, getting toward the goal by the end of the year is our prime focus and

continuing grow over the next two years. >> we'll see what happens the rest of the year. i'd like to ask you about the offering really because i had a look at the platform. the bags go for ultimately 800 pounds. what's the advantage of using your platd tomorrow versus going to the store and getting in-store experience and ultimately a brand-new item? >> we all know the luxury sector has increased prices significantly over the last four or five years and we think about our customer base. about 50% of them come with a primary objective because prices are more affordable. so in many ways we're reflecting the type cast of the macroeconomic situation that we're facing right now and consumers are looking to come to

us to get these bags at affordable prices. the discounts between firsthand and secondhand massively deferred depending on the brands is our ability. we range from second-handbags costing more secondhand than firsthand just because of availability. but when we think about the rest of the bags and even more so in the ready-to-wear sector, discounts are significantly higher than the ones you just mentioned. >> i was going to ask you this, the prices in the luxury sector. the average price of personal luxury goods in europe has increased by 52% since 2019. we know when the premierization trend in luxury is kind of pricing out the aspirational buyer. is that trend working in your favor, being a secondhand platform for luxury? >> yeah, absolutely. i think we've proven incredibly resilient over the last two years despite the macroeconomic

backdrop and we see some of these aspirational customers that have been squeezed out by these price increases shifting to us. our new buyer acquisition in q2 has been the fastest it has been for the last 12-plus months, so we're positive we're providing a real service to customers in this kind of period. >> can i ask you about the tech sector in france and entrepreneurship. we know it was big back home for the last 17 years. th one of the stars hosted his own make it iconic. you were the hurt of this event as a brand. i have some concern with indeed the tech industry about what the polls look like could look like. the impact. i can i get your take on what the picture that the polls seem

to draw of what the political scene would be in france and the impact it could be on your sector? >> yeah. i mean, i lived in paris the last five years before moving to new york in september, and, you know, i can only say the absolute best the support the macron government has given us over the five years we've been there. we have ministers. we can reach them at any given time. the tech sector has gotten so much support, and it's been an amazing environment to build the business. you know, there cease absolutely some concern because paris as a tech location and france as the potential front-runner in europe, and this is coming from a german, you know, is at risk here. there are some concerns because we see a very positive macro environment with unemployment at the lowest end. so we're watching this coasting. >> that was a very clear

comment, maximilian. ultimately, therefore, how are you protecting the business against this political uncertainty? >> i mean, it's important to know that despite being headquartered in france and despite france being the first market we operated in, france operated less than 10, 15% overall market. the biggest is in the u.s. and the fattest growing. i moved there because i seen the macro opportunity in the u.s. is just much more exciting at the moment. the gdp growth and u.s. gdp per capita has leapfrogged europe over the last 10, 20 years, so i felt it was important to set the tone and move there. you know, i still spend, you know, at least one out of three weeks in paris today, but u.s. is really the big opportunity that we're going after. but there's also lots of other opportunities within europe for us. germany is doing extremely well

for us at the moment. what we call europe, which is a combination. they're all doing extremely well for us. so we're incredibly diversified as a business. we, of course, look at what is happening in france, but it's a small part of our business today. >> right. well, thank you for spending some time today to speak with us. that was maximilian, the ceo of vestiaire collective and, of course, charlotte reit. we'll hear about the company's first large deployment in the middle east as well as with the ceo. so stay with cnbc. what is cirkul? cirkul is what you hope for when

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this wednesday morning and i'm silvia amaro and here are your headlines. italy's giorgia meloni says she doesn't think citizens' votes

are being considered as cnbc sources confirm they're set to stay. volkswagen's shares hit a bump after it announces an investment up to $5 billion in the ev startup. european equities rebound from tuesday's moves lower while u.s. futures point to a higher open on wall street. investors eyeing where nvidia goes from here after shares bounce back from a multi-day half a trillion dollar selloff. european eck request i the is have been trading for an hour and a half. let's take a look at how they're trading so far into wednesday's session. we're seeing green across the

board. perhaps more to an upside in germany where we have the dax up by about almost 0.9% of a percent. over here in the uk, ftse 100 by 0.6%. now some of these positive stories today have to do with moves in the telecoms and industrial space. when it comes to industrials, for instance, we're seeing quite a lot of support for the dhl on the become of a strong update from fedex stateside. when it comes to tech, we're also seeing investors rotating back into tech after choosing to go into other parts of the market earlier this week. now it seems they're back at -- looking at tech. i also want to take you to u.s. futures as we approach the open on wall street as well. at this stage, they do suggest it could be a mixed start to the session on wall street. looking at some of the performers on tuesday, it was a very interesting one because we

saw more interest for tech compared to what was the state of this earlier in the week. the nasdaq, for instance, ended the session up by about 1.3%. when you think about how the dow, however, performed, it was down by almost 0.8%, and the small cap, the russell 2k also ended the session lower. so what we have seen here is indeed a stronger performance and interest for the tech sector overall. and just to give you an idea, tech was, indeed, the best performing sector on wall street yesterday by almost 2%. and let me explain to you why in more details. shares in nvidia increased 7% snapping a three-day slide that saw the company shed more than half a million dollars in cap. now, nvidia is making its first large-scale launch into the

middle east, agreed with a deal to deploy its ai technology by the largest telecom company in five different companies. the u.s. has recently explored to close what it sees as a back door for china to access the critical technology. we spoke to the ceo and asked whether airport restrictions are limiting innovation in the region. >> the middle east is one of the fastest growing region in terms of cloud adoption. we're growing at nearly 30% a year. a testament to that is we have committed to reinvest up to a billion dollars in our data center platforms. this includes, of course, the ar part. the mid east has been a sector area of innovation and growth in these new technologies for the

past five to ten years. and ooredoo wants to be a key enabler to that growth. >> let me take you to one of the main stories from the markets today. that's volkswagen and rivian. they have entered into a joint venture to share ev architecture and software. they will invest up to $5 billion to help rivian. staying in the ev space, warren buffett's berkshire hathaway has further trimmed its stake in china's byb. according to hong kong exchange, it held 5.99% of the company on june 19th, down from more than 7% eight days prior. to discuss what's happening in the ev space, i'm pleased to say the head of global data joins us for more.

zeus, good morning. first and foremost, i would like to understand what's happening in the ev space, warren buffett cutting the exposure to byydbyd. what does this mean for the outlook sector tore ev as a hole? >> thanks for having me on the show. it's never seen so much excitement for the last 50 years. you've got the entire western car-making industry taking you to to the speed that chinese makers are advancing. last week you saw fiska filing for bankruptcy. there are up to 48% tariffs. rivian just in 2021 was worth more than volkswagen. now volkswagen is rescuing arivian with a $5 billion bailout. there's a lot going on in the sector.

volkswagen has fallen behind in two areas, the volkswagen itself but also driving and software on the car. rivian is strong in both. this helps volkswagen both in terms of autonomous driving and electric vehicles, but, of course, vw is way behind. if you look at the global car market, there's about 89 million cars that are going to be sold in 2024 according to our forecast, and only about 15% of them are going to be electric vehicles, but within those electric vehicles, of about 12 million vehicle sales, 40% are going to be made in china. that means western companies, both tesla, vw, and others are falling behind. vw's shares of battery/electric

vehicles in 2024, we estimate that to be 8%, wrhereas byd is 18%. >> you're making it very clear that the announcement with rivian is a positive for the german automaker because they have struggled in this space. however, when will this invest management pay off for rivian, given as you're saying they're so far behind in the ev race? >> i think it will take a long time to pay off because rivian doesn't -- rivian makes premium cars. you know, some of their suvs are priced at $70,000. they make premium cars just at the time when the ev market is going mass market, and one of the threats is a very, very cheap chinese made electric batley vehicles. very, very cheap and high-tech. while it's a catch-up move for vw, i think it could take

several years to make an impact on its revenues. >> cyrus, stay with us because i want to get your thoughts on other news in the tech space. let me first outline for our viewers what is the latest regarding microsoft? the company is facing potential hefty fines from the european commission after it with us accused of unfairly bundling its team app with microsoft 365 giving an unfair advantage over competitors. there's a complaint by slack, part of sale force. microsoft has seemed to address concerns by battling teams from office. but they argue this more changes are needed. microsoft, could be fined 10% if found guilty. the case comes hot on the heels of charges it had with apple earlier this week where it accused the tech giants small

store keeping others from competing. cyrus, i would like to first get your thoughts on the microsoft investigation here because ultimately the company had already unbundled team from the rest of office. what other chances can microsoft announce that would actually please the european commission? >> i think the european commission is looking for microsoft to make it much, much easier for rivals like zoom and slack. slack, of course, under sale force's ownership, they brought the original complaint. it's fine for most to say things are working and we've un bubund team from the rest of office. what microsoft is looking for and wants a chance to challenge that is to make the compatibility of rival software as good as before. so over a decade ago, the eu

fined microsoft $561 million, half a billion dollars, you know, on the fact that microsoft made it very difficult for rival web browsers to come onto its windows platform and displace internet explorer. >> let's look at apple as well. in all the announcements from the commission this week, with the regulation that the commission is using at this stage is the digital market app. this is new. we have never seen it used before to this extent. it managemently what does it mean for apple and the broader tech sector now that this rule book is in place? >> i think big tech has to adjust to a different regulatory environment in europe than it's used to in america. so the two big acts in europe are the digital markets act, which is all about competition. so the europeans are saying if you want to sell to 450 people in europe, you've got to creates an environment where european

local competition can compete on your platforms. you can't block them out. the digital services act, which is a sister act, is all about consumers. if you want to compete in europe's market, you have to protect our consumers against online harm, misinformation, and things like that. they took on twitter or they took on x recently saying they're not doing enough to rid their platform of misinformation. but this act is all about the digital markets act, and the reason is quite important because both of these acts only came into force -- they only came into law a few months back, but this year enforcement was allowed. so apple was the first time that ema was enforced and microsoft is the second. and to sum it up, the main difference between the eu approach and the u.s. is the eu is focusing with these two acts on an x day approach.

they're going to catch big tech before they do anything wrong. in antitrust law, you can't do that. it's more problematic to enforce antitrust. the other big difference between the eu and the u.s. is in the eu, if you harm consumers or competitors, you're in trouble with these acts. with the u.s., antitrust laws are all about consumers only. >> it's definitely a different approach, isn't it? we'll continue to monitor any upcoming announcements from the european commission. thanks for joining me today. now, coming up on the show, the countdown is on this time around for the paris olympics. they are racing full speed ahead and an election as well. we get an inside look into the preparations after this break.

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welcome back to "street signs." let's look at the uk politics. the opposition labor party has suspended one of its candidates after he became the latest would

f-be mp to be implicated in a betting scandal that has overshadowed the election campaign with the campaign launching an investigation. a number of the conservative candidates have been suspended for betting on the day of the election for when it would be called. but kevin craig posted on x he had himself winning. at this late stage he will still appear on the ballot with labors next to his name. these are the other candidates stand standing in. two independents and one from reform and greens and conservatives. we spoke to the former leader of the liberal democrats. we asked what role tax pledges are playing in this election. >> i looked at the fiscal studies punched out yesterday.

there's a massive poll, which is politics. it's very clear under any plausible outlook in the future, taxes will have to rise very substantially if they are to deteriorate even further in a very bad way. there are big problems looming up. local government, council going bankrupt, universities going bankrupt, child poverty. so the next government is going to have to spend. it will probably borrow more, too, but it will almost certainly have to tax more, and none of the parties have been very upfront about how this could be done. raising taxes isn't popular. >> now, from the uk to france, it's a very busy time there with preliminary elections days away and the olympics due to kick off in exactly one month with

sustainability front ant center. nbc's chase cain filed this report. >> reporter: building any new stadium or arena comes at a cost to our planet. >> understanding the long list of things, like the bill of materials for the games was key for us, first of all, to understand it and then challenge it. >> reporter: the head sustainability explained how they comb through every detail from number of chair thais needed to renting bleachers for the iconic eiffel tower and more importantly what they chose not to build. >> the conception of which venue you need to use, do you really need to build a new venue or can you reuse one? >> reporter: welcome inside one of only two new venues built for the olympics. one thing i noticed, it's a minimal arena. there's not a lot of extra stuff. one of the things fans will notice is these seats are made of entirely plastic.

they worked with 50 recybers to gather 100 tons of plastic, which would have been incinerated and become air pollution. they became 11,000 seats. the other is olympic village which will become permanent housing after the olympics. it faced pushback from athletes for its exclusion of traditional air-conditioning in favor of carbon-free geothermal cooling. >> we have accepted to take the risk of innovating, of try new things, showing that we made the math, and this should work. >> reporter: another wave of backlash followed construction of an observation tower on top of a reef. hoping fans choose not to fly there, instead, watching surfing on nbc. this one has the most history.

this was here a century ago for your the 1924 summer olympics. it hosted the opening ceremonies, but this summer it's going to host field hockey. as cities across france hope to show what's best for your our planet is what you already have, and that's part of the reason l 28 chose to show no new venues. >> the olympics, the election, a very busy time in france, but it's also a very busy time across european equity markets. let's take a look at how they're trading so far into wednesday's session. we're seeing green across the board. more pronounced moves in germany where we have the dax trading almost 0.9% today. lot of this positive sentiment has to do with some stories in the industrials and tech space some of far we have seen investors rotating back into tech, and when it comes to industrials, all eyes on dhl

after what we saw from fedex yesterday, raising some of their profit outlook. and when it comes to futures, this is how we're shaping up ahead of the open on wall street. it could be a mixed start to the trading session. note that investor his will keep a close eye on what fed officials are telling us. yesterday lisa was quite cautious about the path forward in terms of rate cuts. now, we'll have more on what the fed officials have said for you tomorrow. that is it for today's show. i'm silvia amaro. stay with the channel. "worldwide exchange" is coming up 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

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it is 5:00 a.m. here at cnbc global headquarters. i'm frank holland. here's your "five@5." gaining ground. stocks look for another win, sounding the alarm over the ai trade and market leadership. a new spin on fedex. they announce a pop of its freight business and provides a solid guidance. volkswagen is going to in vests up to $5 million in rivian. shares of rivian are skyrocketing this morning. nvidia tries to add to its rebound after the historic $550 billion selloff. >>