maybe she just doesn't know it yet. tell him. that's all for this edition of "dateline." i'm andrea canning. thank you for watching. ♪ welcome to "street signs" on this wednesday morning. i'm silvia amaro, and here are your headlines. european equities are higher, tracking gains on wall street where the s&p and nasdaq hit record-highs once again. hapag lloyd is higher okay on the back of stronger demand and higher freight rates. fed chair jerome powell offers one of the strongest

decisions yet that the fed is eyeing a rate cut, telling lawmakers on capitol hill keeping rates too high for too long would harm the economy. >> elevated inflation risk is not the only thing. it couldundo economic activity and employment. and nato pledges its unwavering commitment to ukraine, promising air missile defense systems and what another trump presidency could mean for the american alliance. >> i thought putin would give up if he lost 100,000 soldiers. he's now lost 500,000 soldiers. we need to stay the course. >> donald trump's position is the most pro-european position also we can get. a very good morning, everyone. we have a very interesting

session already taking place here in europe, but before we get there, i just want to give you a recall of what happened yesterday when we heard from jerome powell speaking in congress. that was basically the highlight for equity traders questioned. thinking about equities and thinking more specifically what jerome powell indicated to the markets, we go to a very more important clue with what the fed thinks in terms of the labor market. i would high light really he says the further cooling in the labor market could be undesirable. this is a very important message because thus far the fed has signaled it has been very concerned about how the labor market dynamics have played into the overall inflation picture, so these comments from jerome powell are really highlighting they might be in a position to start cutting rates. now, when it comes to the timing of these rates, a very important question from market players at this stage, powell says, i'm not

going to be sending any signals about the timing of future actions. nonetheless, when you think about the reaction in the markets in the wake of his comments, we saw asian shares trading higher this morning. and when you think about the moves in europe, we're seeing the stoxx 600 marginally above the flat light about 0.2%. when you put that in context in terms of what we had seen yesterday t stocks ended down by almost 1%. looking now at the main forces in europe, they're all trading in green. i've been telling you how we've been keeping a closer eye on france in this stage of the election. yesterday it dropped 1.6%. also we're seeing higher moves in germany. the dax ended down by 1.3%. but i want to take you to the sectors, because there are some

corporate stories we're monitoring this morning. i want to explain briefly what we're seeing when it comes to some of the sectors at this stage. real estate is the outperformer, up by 1%. we have more details in a moment when it comes to some of these moves. one more reason why we're seeing a bit of an upside is the news in the united kingdom about the government and their plans to reintroduce mandatory housing targets. that's reducing some names in this sector. when it comes to telecoms, they're also tracking higher at this stage by 0.8%. earlier this morning the s&p raised their note -- their grade on telecom italia, and, therefore, that is also boosting a little bit of momentum when it comes to some of the telecom names. and i want to tell you about health care at all.

yesterday we saw nor vo nordisk their shares higher. when you compare their weight loss drug with the rival, eli lillys, the latter seemed to have worked better than novo nor nordisk. that put some pressure. we're also tracking what's happening on health care. but i want to take you to some corporate-specific earnings this year. hapag-lloyd hikes its 2024 earnings forecast. it's coming in between 2.2 and 2.4 billion euros. you can see the stock higher this morning, up 6% at this stage. barratt raised their forecast

and cuts their 2025 build target amid higher interest rates and broader development concerns. there's a shift in home building policy under the uk's new government. when it comes to volkswagen, they have said they're cutting their margins target for the year as it warned of the potential closure of their plant in brussels amid waning demand. the cost of doing so plus additional costs will amount to 2.6 billion euros this year. and they lowered their ev sales target for the next couple of years, siting weaker demands. we're seeing quite a lot of pressure when it comes to ev production, and at this stage volkswagen shares are down 1.3%. let's turn to one of the big events for the market this week. we heard from jerome powell.

he said holding rates too high for too long could jeopardize economic growth and it could strengthen the case for rate cuts. addressing capitol hill he said he's seen a risk on the labor market, adding the policy makers are balancing the risk of too soon or too late. powell struck a kaushsz stone when it came to spelling out the central bank's next move. >> i guess i can say it this way. i it doesn't seem like the next policy rate would be a move. the likely direction does seem to be as we make more progress on inflation and as the labor market remains strong, we begin to loosen policy at the right moment. >> now to look into more detailing of what we heard in terms of jerome powell yesterday, i'm pleased to say our next guest joins me for more. good morning. >> good morning. >> first and foremost, how did

you read the first day of testimony from powell. anything you would highlight at this stage? >> sure. for the most part, i think he really stuck to the script and really reiterated the messaging that came out of the most recent fed minutes. that's that inflation is progressing slower. growth is still growing, and it's solid, but they have to cut rates to see more on the inflation front. >> he did say, however, when it came to the labor market picture, it could be further undesirable. did you interpret thatthat the fed is ready to cut rates or not yet? >> i would say not yet, to be honest. that was definitely an interesting point that he mentioned, that the labor market in his view is no longer contributing to labor depression. if you talked to many economist, i they would say that's been

quite the case for quite some time. job openings have been moving steadily lower for two years. i think that was an interesting acknowledgement from him. he mentioned the two-way risk to their mandates, both to inflation and to unemployment. whilst he did say they're now mindful of not holding rates too high for too long, i still think at the moment, it's primarily focused inflation, whether that's the right thing or not at this stage. >> anything we should expect differently today from his second day of testimony because he's speaking once again. >> yeah. i believe the pat remarks will be the same. i'm not expecting anything wildly different. i think he was pretty good about not saying too much to be honest yesterday. >> he sticks to the script. however, this week we're going to get a new cpi print if the

united states. what are your expectations from this number and will this give the fed the confidence they need to start cutting? >> as you say, the cpi is going to be really key, and the fed have specifically said it's data-dependent. that's the policy framework. unfortunately what that means is it leads to quite a bit of volatility around the data points. it's a guessing game as to how the cpi will come out. the consensus is to move lower once more, and i think that's likely. actually, i think a july cap realistically is off the table, based on what powell said yesterday. i think that was an outside chance anyway. but there are three more cpi prints to come before the september meeting. so they do have plenty of opportunity to grow in confidence. the inflation is still on a

downward trajectory. >> in the meantime, though, i would like to understand how you're feeling, really, about the work of the fed thus far because there are some people -- i know thisis not the majority -- that when assessing the latest economic data and the way the fed has been reacting, the fed is being too cautious and is taking too long to start cutting rates. >> yeah, absolutely. so on the way up as they were hiking, i think it's generally accepted they were a little bit late. i would be less critical of them than others because it was an unprecedented time and a lot of shocks, and ineverybody it play that's going to lead to big forecasting errors. now as we look to cut rates, i do think that they -- they need to really be careful about holding rates too high too long. 2i7icily economic data moves in trends, and we really have seen

a lot of progress on the inflation front over the last 18 months, and powell has said that they would cut before they get to two, but for me, they've been fixated on the 2% number. i know that's their target, but if you wait until year end, it's likely inflation keeps going lower. i think the time has come and i think by september they would have the opportunities. >> there's always a laggard effect in these things. there's always that risk as well. inevitably how are you thinking about rate cuts for the rest of the year. initially they talked about six or seven rate cuts. the dot plot thinks a maximum of two. how many do you think we will get? >> if they go in september, it's likely you'll get another one later in the year in december, and, really, at the moment, there's no -- there's no obvious pressing concern on the front to be cutting.

often rate hikes are more gradual. actually in the last cycle, they got pretty quick at one stage, but rate cuts come a bit faster. i don't think at the moment that's too lightly. as i say, growth is still pretty solid. i think they'll be more gradual on the way down as well. so at the moment, the market is priced for five or six cuts over the next year. i think that's broadly fair. and it's difficult for me to see like a really material bond rally from here because a lot of it actually is priced in, unless you see a big weakening in growth. >> okay. so one of the attention on the data for the time being is on the data print on thursday. thank you for your time this morning. that was cj cowe. inflation in june was coming

in 2.6 and coming in below may's figure. now, 0.8% year on year. this ahead of the communist party policy gathering next week. and coming up on the show, we'll be looking at nato as leaders gather to market the organization's diamond anniversary. we'll have the latest from washington, d.c., 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.

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welcome back to "street signs." the russian missile that destroyed a children's hospital in kyiv reportedly used western components. that's according to the "financial times," citing experts and ukrainian officials. if so, it would demonstrate the kremlin's ability to avoid missiles. the missile is one of the country's smartest with the country making eight times as many of the weapons now compared to before the invasion. the u.s. president joe biden showed his support for ukraine as he opened the meeting in washington as he mentioned the

75th anniversary and described the group nato more powerful than ever. >> it's good we're stronger than ever, because this moment in history calls for our collective strength. putin wants nothing less than ukraine's total subjugation and to whine ukraine off the map, and we know putin won't stop at you ukrainian, but make no mistake, ukraine can and will stop putin. >> joe biden used the summit to announce that the u.s. and the leaders of germany, italy, the netherlands, and romania will give kyiv five additional patriot and other air defense systems in a bid to further protect ukraine's city, civilians, and soldiers. now steve is at the nato in d.c., talking to officials across the alliance really and

he asked the political director whether europe will be safe under a trump presidency. >> donald trump's position is the most pro-european position also of what we can get because we europeans also have to take ourselves seriously. so if we rely only to our american friends and we are not putting in enough energy, money, and preparation for our own safety, then what do we talk about? then exact ly -- >> so the threats have galvanized the nato alliance. >> yes. i think it's crucial. it's very important. this is why we hungarians and the poles and some other nations. we started our military modernization program way before the ukrainian invasion because that's our vital interest.

we can tell to our american friends, it's wonderful you are here. if we are in trouble, you are to defend us, if we're in trouble, you can help us. but first and foremost, we're responsible for our own safety, and we have to do our own job. what he is saying, i think it's very positive. >> the minister told steve that european nations must do more to boost their military capabilities. >> germany has done a lot in the last couple of years. the $100 billion in additional funding is there. there are like practical steps. it cannot be only that you'll increase the salaries or pensions. so it has to go into the

capabilities. and this is one of the messages we came also to washington summit for, that we have to increase significantly the capabilities of european armies because we are doing that. we're investing in our capabilities and our defense budget, to ammunition only. this is what we are on the steps advocating for and looking for others to do the same. >> now, steve also spoke with poland's foreign minister and asked whether western nations have learned enough to isolate russia. >> the biggest sanction is that putin has lost his most lucrative market for oil and gas. he can now sell his oil to india for rupees and to china at a huge discount. the russian economy has high interest rates and high inflation at the same time, and

they're depleting their reserves. remember, gdp, which they say is still being maintained, reflects activities, not wealth. when you make a tank and send over a motor car and you send that tank to the battlefield to be destroyed, you've destroyed wealth, not created it, and this is happening on a huge scale. putin wanted to conquer all of ukraine when he now calls on freezing the conflict. that means he's already getting an inkling he cannot win this war. he made a catastrophic critical error in invading ukraine. he's democrat a great deal of damage. n bombing children's hospitals, stealing children, that's completely unacceptable and he

should not be profiting from this war. >> even though he's selling products to the chinese and indians as well, it's still providing a vast source of income which is fueling the economy that has been turned into some military industrial complex. he could last a very, very long time -- >> i don't think so. they now have a loss in the gas-making company. remember, not all long wars end with a march into the country's capital. world war i ended with germany essentially running out of resources, and this is a more likely scenario. >> i would also like to high light this comment from the minister from poland, that everybody has an army, either your own or others. yours is cheaper. this highlights some of the

pressures nato feels at this stage, and in order to increase defense spending, we know poland is among the countries that spends the most of their national budget on defense. now, looking at france, talks are underway to form a government after election results delivered no clear majority in parliament. the left won the most seats and says it intends to govern according to its tax and spend program and needs time to organize. they're calling for a role in government citing the left lacks the majority. moody's says the fiscal implications could be negative. it could lead to delayed decision-making, making it harder to regain control of the country. of course, charlotte is joining us for more on this one. charlotte, what does this mean from moody's? is there any sorts of chance we could see the rating agency

downgrading their outlook and rating, really, for france, because we've also heard others not too long ago raising their ratings concerns for france? >> this is signaling what s&p did, that any government that would manage to be put together found face the risk of no confidence and would lead to paralysis and they would be unable to address the public finances. in the meantime it looks like the french party is not taking much caution about that. they're continuing their negotiations. the left wing blockers say they could have a prime minister. they sent a letter to president macron saying they shouldn't wait too long before picking the prime minister. that would betray the constitution. they had talks within the new group, so the socialists, the

greens, and the far left, trying to put it forward and not be voted against in the national assembly because a vote of no confidence could fold very quickly. we have to wait and see. but they have 180 seat ts. very far away from 289. so they have to put forward a candidate. there are talks of a potential between president macron's camp and the center right group. they have worked together in the past already. they put together the pension reform. remember, the last parliamentary assembly, president macron got 245 seats. not too far from the majority. they have to work, including most of the time that. it was a nightmare. things didn't work out. they had to push through some laws without a vote.

180 and certainly the notes seem to not want to negotiate with the other group. it looks so tricky. who can reach the majority? who can put anyone at the table and not have this government down straight away? so that's the situation we're in now. it seems very complicated. if the left wing block was to do that, there's the economy complications. we had a chance to catch up with an economist who used to be an adviser to macron a few years ago, particularly around the pension reform. they said the left wing block in that program would be dangerous and would make the chances of reducing france's debt even more complicated. >> i think, b, that you have the left wing coalition, which has a very radical program. i think that would worsen the

debt problem of france clearly. so now that there is an attempt to avert that, the way to avert that is to try a coalition between the center and the right and/or to have a technical prime minister who can try to, you know, accede the authorities on project by project in each department. those are maybe a mixture of the two. that's the hope to avoid the left wing parties program, which is a very radical program. >> so the new national assembly will get together on july 18th. i'm unclear whether we'll have a government by then or not. meanwhile president macron is flying to the nato summit, leaving the parties to themselves. very tricky.

uncharted territory for france. they have to learn the coalition and compromise from some of their neighboring countries. >> it's certainly a testing moment. thank you, charlotte. just a quick note in terms of what we're seeing in the bond market. the french 10-year bond yield was down just 5 basis points. we continue to monitor that spread between the french and german paper. now, coming up on the show, as rachael reeves vows to get britain building again, we'll discuss the new policies and whether they'll provide the boost to growth that labor is counting on.

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i'm silvia amaro, and here are your headlines. european equities trade marketly higher where the s&p and nasdaq hit record-highs once again. hapad-lloyd trades higher on the back of stronger demand and higher freight rates.

fed chair jerome powell offers one of the strongest signals yet that the fed is eyeing a rate cut, telling lawmakers on capitol hill, keeping rates too high for too long would harm the u.s. economy. >> elevated inflation is not the only risk we face. reducing policy restraint too late or too little could undo economic activity and employment. and nato pledges its unwavering commitment to ukraine, promising air missile defense systems and what another presidency could mean for the alliance. >> i thought putin would give up if he lost 100,000 soldiers. he's now lost 500,000 soldiers. we need to stay the course. >> donald trump's position is the most pro-european position also of what we can get. now, let's look at house

builders where this morning we actually heard from the british company, barratt developments, raising its profit outlook for the 2024 fiscal year, but high interest rates continue to buy to the housing sector. the forecast is up to a 7% fall in building targets in 2025, hour, it says it's optimistic of a shift in policy under the new uk government. and crest nickson recommends the company at more than 7 million pounds. bellway has until the close of august 8th to make a firm offer or walk away. with all of that in mind, let's take a look at how house builders are going. we're seeing marginal pockets of

green for persimmon and berkeley. one of the stories to mon store within the sector is just not the potential consolidation but also the recent announcements from the new government. rachel reeve has announced fresh house building targets just after the labor landslide victory. they plan to build 1.5 million homes in the parliament. however, our next guest cannot believe it can be fixed in one term. richard donell joins us for more. good morning, richard. >> good morning. >> let's get your thoughts on what the labor government means for the housing crisis. you do not believe it will be fixed in one parliament. tell us why. >> yeah, i think it's all about supply really in the housing

market. we've got to boost supply. you have to give the government credit for very ambitious plans, taking on house building we haven't seen since the 1970s. clearly, it ooh is a long-term plan. but really i think it's important some of the proposals in place. today we see through the planning reforms, but we've got a boost for property downside as well, not just so homeowners can buy the new homes but make sure that housing associations and other corporate investors are there can support more delivery and supply with more profit. >> we know this has been a problem for many, many years and it's understanding we might not see this fixed with one parliament term, but can it make a difference when it comes to first-time buyers and ultimately to house buy prices? can they come down? >> it was more than planned to bring house prices down, but i think it's important that the

government brings this big macro message to house builders and people who might promote building more properties. we've got to open up the amount of sites. there's a big message of intent. it's important we get the planning reforms through. we have to make sure there's enough people to build the homes as well as builders can see low risk in sales for both home sales but corporations buying affordable and rentable property. >> i wanted to ask you exactly about that. what is basically the benefit for some of these house builder names to actually being forced to build more because one of the criticisms that's been indicated in the past, if they don't build enough, they can charge more. >> it's about broadening out. the housing industry aaccounts for one in ten sales of houses

each year. at the end of the day it goes back to the housing economy, how income is rising. hence my point, we've got to make sure we've got a broader range of product. we have to make sure the demand is there, the buyers are there, and i think we will see this broadening. you're seeing in what some of the builders are announcing about strategies, having more partnership developments. trying to derisk schemes and see as high a price as possible to drive a bigger viability of the overall site. ultimately what we're seeing with barratt and redrow and others, can that actually make a difference for first-time buyers or will have having fewer lead to more? >> it will lead to more outputs and we need to make sure small builders, maybe we can replaks planning rules for them to make

life easier for them. we need to ease the housing public sector. the answer is getting more people interested and enably bringing land forward but also building more homes, which would benefit evan. also it would shorten supply in the market. we need to grow supply and it's actually everyone's responsibility, not just one group of lifted house builders. >> the market expectation suggests we can see the bank of england cutting rates this summer. ultimately how is that playing into the outlook for the housing market? >> i think the housing market has picked up and the sales market. we've had a strong resilient year. sales are up. a lot of that's to do with consumers recognizing that the base rates are not going to go up any higher. i think the first rate cuts,

even though it may not have a big impact, it sends a sentiment signal to consumers, we have more homes for sale than we have had in five years. people in the market looking to sell, building to buy, it's about continuing to build the confidence. >> why is the confidence lacking? is it because of high mortgages? >> it's affordability, high house prices. 4% to 4.5% interest rates are going to be the new normal. we need to see house prices remain low to reset with incomes, where if you go to the midlands or north of england or sco scotland, houses are holding strongly and sales are going up. >> thank you for your thoughts. was richard donell, executive director of zoopla. cnbc says statista launches

the second annual fintech report. we have someone from one of the companies that made the top 250 list. he told cnbc how newer banks offer competition in the banking industry. >> if i look at the banking system as a whole, it's very conservative. there appears to be a lot of competition, but there isn't really. most banks mostly do more or less what the other banks do as well, so, therefore, it's the perception of users that there's nothing to choose. our main target is to target the 99% of users who are at traditional banks and try to consider newer banks. >> now for the full cnbc and statista lifts of the top 250 fintech companies of the year, you can check out ryan's report on cnbc.com. now, a 30,000 workers union,

samsung electronics has announced a definitive strike. they've announced no pay and benefits. the union says about ,6,500 strikers will participate. still in this space, lists shares of tsmc are higher after the quarter beat expectations even after the revenue in june tipped 10%. they marked a 32% growth in quarter in dollar terms and a booming demand for ai. and microsoft has given up on observer's seat on the openai board saying it's seen sig p can't progress over the last eight months and doesn't feel a

seat is necessary. they had planned on taking a seat on the openai board, but will not do so according to the "financial times." coming up on the show, boeing numbers paint a mixed picture as the plane maker posed a modest recovery in deliveries on the month. we'll discuss more after this break.

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signs." time now to look at the equity sessions in europe. we have all sources so far trading in positive territory. we're keeping a close high on the cac at 0.3%. we heard moody's saying the political uncertainty in france is a source of concern and naturally the longer that drags, there could be further implications on the fiscal position as well. we'll see what type of reaction we might get from rating agencies as well in the wake of the election. i want to take you to one of the corporate stories we have. boeing deliveries have dropped

27% in june amid slow and legal challenges. they made more plane this year and plan to expand production by the end of this year. i'm pleased to say the airlines director is joining us for more. first and foremost, what do you make of the latest comment out of boeing? >> good morning. thanks for having me. yeah. it was certainly down year over year, but certainly a big improvement from the previous month. i think the total maxes were 34. so, you know, that's well below, i think, where the company would like to be and where we would like to see for a recovery. but, again, an improvement over the previous month. so progress. >> let's be honest about this. the recent times have not been good whatsoever for boeing, so

when you think about what has happened over the last couple of months, since the strts of the year really, and now these late test numbers, what is the outlook for this stock? >> yeah, we're focused on the credit quality, so our view is that it's going to take toward the end of the year to really see the results of the major overhaul of the production process for the max. so we're expecting the first half of the year to be really week and the benefits of the work they're doing in the first half to show up in the late summer or toward the end of the year. >> now, i was puzzled to see in the latest numbers, boeing does say that there was at least one jet ordered by alaska airlines. so ultimately i would just like to understand whether this is a sipe that reputation of boeing ultimately has not been that

damaged. >> yeah, i think it comes down to a case-by-case basis of the airlines' needs, and i think in general, customers are pretty happy with the airplanes that they get and are operating. mostly it's been -- the issue has been getting enough of them as quickly as they want. i think we're certainly going to be keeping an eye on orders. it's a good indicator of the market of the company. every signal is an important signal. we heard from the faa saying they were inspecting 2,600 boeing 737 airplanes due to oxygen masks. ultimately i don't want to get too bogged down in the details

of this investigation, but is this another event that could raise concerns among investors and does it suggest that the technical issues of boeing have not been fully fixed? >> well, i think that there's -- there are ongoing -- i think there's always going to be a situation -- things that come up that need to be -- that need to be addressed or investigated or remedied, but i don't think necessarily this in and of itself is an indicator. >> and regarding the deal with spirit aerosystems, what does this mean for both boeing and airbus? >> i think it's a long-term process for boeing to reintegrate its spirit into the manufacturing process. we don't think that the kloss of

t the deal will happen until next year. there are terms in the production that's already been ongoing, but, you know, i think long term it's a plus. airbus will -- i think there are still some details that need to be worked out in terms of testify work that spirit does for airbus. but i think it's a move in the right direction. >> ben, thinking more broadly about the airline sector, what are you expecting in terms of their earnings, the next release of earnings because i was just reading it yesterday on how a lot of airline companies are struggling with new and additional costs and even though people are very keen to travel at this stage, those costs are putzing a lot of pressure on the bottom lines ultimately. >> yeah. the airlines are outside of my area of expertise. i would say demand for air travel is very strong.

the supply of aircraft is a continuing issue both because of the availability of new aircraft and the uptime for aircraft already in service. so i think it's a tight -- it's a tight situation. >> all right. well, thank you for sharing your thoughts with us. that was the airlines director at s&p global ratings. now, major wall street lenders are set to kick off the second quarter of the earnings season this week. on friday we'll hear from jpmorgan, citi, and wells fargo before goldman sachs and morgan stanley and bank of america follow suit next week. a lot of action at the start of this early season. a u.s. representative has called on president biden to end his re-election bid, becoming the party's ninth sitting lawmaker to publicly urge the commander in chief to step

aside. she praised the president's leadership but said the stakes were too high to stay silent. behind closed doors, they're reportedly expressing fears biden cannot win in frov, but they're calling on him to step aside, saying they feel powerless to act in the face of the biden controlled house. and cnbc news was told they would be crucified by the camp for stepping out of line on the issue. and the former president donald trump was back on the campaign trail tuesday seemingly enjoying the public fractures within the democratic party and stepping up attacks on vice president kamala harris. trump also teased his vice president pick decision. he's expected to announce before next week's republican national convention. and nbc's brie jackson is joining us for more on the latest on the u.s. political front. brie, i just would like to

understand at this stage, reading some of the comments from some democrats, that they feel an impression, some feel they cannot speak their minds when it comes to the future of joe biden. is this pressure something that you're also feeling on capitol hill? >> reporter: well, it seems to be mixed reviews here on capitol hill. so when we have those closed door meetings that happened yesterday, some sources that were in the room, they say only a handful of democrats privately raised concerns about president biden's age and ability to win in november, while a majority say it is time for the party to rally behind him. but some have expressed concerns about even speaking out against the president, knowing that in some ways, some members have their own races to be concerned about, re-election races to be concerned about this nosh, and think still want support from

the party, so there has been some fear expressed about whether or not speaking out against the president would inhinder their ability to get endorsements or support in their own elections. but, again, the majority of leaders in the democratic party, whether it's the house minority leader, hakeem jeffries, whether it's the senate majority leader, chuck schumer and other top democrats, they're standing firmly behind the president and his re-election bid. >> brie, thank you as always for your reporting. now, i want to take a look at european equities. we have within trading for almost two hours and we're seeing almost all of the majy boerses in green. deutsche bank is reporting that the recent databank has been slightly disappointing and therefore they expect beats to be weaker than in the first quarter. of course, we'll monitor all of

those releases throughout as they come out really. i want to also take a look at u.s. futures and what they're suggesting in terms of the wall street open. it seems it could be a mixed picture state site today. we have wholesale trade data figures for the month of may. and, of course, powell is continuing his testimony on capitol hill. so we'll also bring you all of those details in tomorrow's shows. and, of course, as we keep an eye on wall street, worth remembering yesterday we did see the s&p and nasdaq posting fresh record-highs. let's see what wall street will have in store for us later on. that's it for today's show. i'm silvia amaro, and "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's 5:00 at cnbc global headquarters. here's your "five@5." stocks are keeping the rally alive. fed chair jay powell is back on capitol hill telling the central bank they're more and more concerned about the cooling labor market we're also looking at the record-breaking rally across the pacific. we dip into japanese stocks and whether they have more room to run. plus