that's all for this edition of "dateline." i'm craig melvin. thank you for watching. [theme music] ♪ welcome to "street signs." i'm silvia amaro and here are your headlines. oil demand weakens in the second quarter an dragged down by slowing chinese consumption. the imf says growth expectations remain in tact. we will speak to the oil industry head toril bosoni in a few minutes. european equities notch higher with the attention now

turning to the u.s. cpi print. from phones to smart rings. samsung is putting tech giant a.i. models at the center. and an nato announcing fresh aid for ukraine and speaking out about whichina's support for russia. >> they pose a big challenge for western democracies. >> i believe there needs to be cooperation. there should be trade, but there should be clear elements. good morning, everyone on this thursday morning. we start today's show looking at the latest iea oil report. the latest from the iea is they

are cutting their 2025 oil demand forecast and at the same time lifted the supply view. in terms of the iea view this morning, they are seeing world oil demand continuing to accelerate with the second quarter moving to 700,000 oil barrels a day. as i was suggesting earlier, when it comes to chinese consumption, the iea saying this contracted as the country's post-pandemic rebound has run its course. we continue to monitor what is happening in china in this context to understand what are the ramifications for the oil market as well. when it comes to crude oil prices, iea saying they recovered from the six-month lows in june and at the same time, the iea continues to monitor the geopolitical

tensions. of course, that could also bring further pressure to this part of the market. i want to dive in to this report in more detail and i'm pleased to say toril bosoni is joining us for more. good morning. thank you for joining us on the back of this report. first, could you walk us through the highlights of the different dynamics you are seeing since this latest report. >> good morning and thank you for having me today. as you said, we saw quite a significant recovery in crude oil prices in june. prices recovered from that six-month low that we saw at the start of last month when opec plus announced they would unwind some of the voluntary cuts starting in the fourth quarter. as the alliance came back and said we will only do so depending on the market circumstances and then we did see supply fall short in june and all inventories declines

after four months of build. even as we say that we're seeing a clear slowdown in oil demand growth and even so, prices did recover as the market is expected to be tighter in the third quarter. we are expecting stock draws to continue into the third quarter and we increased our heightened our geopolitical tensions in the middle east and that's keeping the market on its toes at the moment. >> i want to focus on the geopolitical tensions in a moment. before we get there, if you could add a little more color in terms of what you are seeing out of china. some economists are suggesting that turn around has not really panned out, but perhaps we could see that in a couple of months time. explain to us the economic dynamics and how those are fueling the potential changes in the oil market as well. >> yes, thank you.

obviously, in may and june, we have seen a con kcontraction fr what we have seen. we have seen 700,000 barrels a day. in 2023, it was 125,000 barrels a day. in 2023, china came out of the cl lockdowns and demanded increase sharply. there is a baseline effect. even so, manufacturing and demand for chemical fuel and feed stock did decline in the second quarter. there are concerns about the housing market and constructions in particular. that is something that we are watching very closely. even so, even with the slowdown, china or chinese oil demanded growth is expected to grow by 400,000 barrels a day this year. that is 40% of the global gains. china remains an important

player of the market and in terms of oil demand, but the growth is definitely slowing from what we have been seeing over the past few years. >> now, this week alone, we heard from at least two ev makers saying they are seeing low demand and as a result of that, they're scaling back some of the ev production and future plans on that front. ultimately, what i would like to understand really is how are you seeing the impact of these comments from ev makers on the demand for more oil? >> we are seeing very strong sales this year. one in fiveally is ev. t sales continue at high levels in europe and the united states as well even though we do see the headlines that the pace of

growth is slowing, but the sales are still growing nevertheless. this is what is feeding in our view that gasoline demand growth will slow and eventually peak in the coming years. that's something that we already are seeing in the market today. global gasoline demand is still well growing at a lot less speed than the number of cars on the road. there's definitely an impact from the ev sales and better efficiency in the internal combustion engines. >> my question is what does that mean for the outlook for the demand because it doesn't seem to be making a huge difference? we heard from opec in the last 24 hours and they stuck to their outlook for the rest of the year saying they are expecting relatively strong global oil demand for the rest of 2024. ultimately, it doesn't seem evs are making a huge change when it

comes to the consumption of oil. >> thank you. i think the ev sales take time to feed through for the demand, per se. what we are seeing and we are already in july and growth of 700,000 barrels a day down from the first quarter, we see the pace slowing. this is what we are seeing in the data. also, what we are seeing in the united states, for instance, gasoline demand is relatively unchanged from last year. growth has come to a halt even though we're driving more and vehicle miles traveled are increasing year on year, but gasoline consumption is d declining. this is where we see the more efficient cars are playing into the use of oil. >> let's turn back to the geopolitical tensions then. how are these impacting the

outlook for oil at this stage? we are seeing the conflicts not easing anytime soon. can that still further volatility in this space? >> yes, of course. we are watching that very closely with the unrest in the red sea in particular and russia and ukraine and drone attacks. we are seeing, for now, the supplies in the middle east have not been disrupted, but we are seeing disruption to shipping. tankers avoiding the red sea and suez canal and going around the cape of africa. that takes longer to sail. this is having an impact with the longer supply chains. in times of disruption, we have to make sure that we have adequate inventories at home to be able to cover any shortfall if there should be any for hurricane or for other reasons because it would take longer to get the supplies from the

producers to the consumers when some of the shipping routes are affected. >> all right. toril, i'm afraid we have to leave the conversation there. thank you for joining us. that was toril bosoni at the iea. now it is time to check on the european markets. equities have been trading for over an hour. as you see behind me and over to my right, we see european equities trading higher in the session. we have the stoxx 600 up ..4%. continuing the positive momentum yesterday when the stoxx 600 ended the session up almost 1%. there is one key driver behind this momentum at this stage and that is expectations, growing expectations that we will see the if federal reserve cutting rates this year. a lot of market expectations are

suggesting that could happen in september. however, when we heard from jay powell yesterday, he finished his two-day testimony in congress, but refrained from timing here for potential cuts. however, the comment on the first day of testimony suggesting that if we see further cooling in the labor market, that could be undesirable and that gave us an important hint of where the fed would start cutting the rates. let's look at the board. it is a positive session thus far. we continue to track what is happening in france in the wake of the election. at this tstage, the cac 40 is up .6%. i want to take you to the uk. we have the ftse 100 trading marginally above the flat line. early this morning, positive economic data showing the economy rose 0.4% in the month of may. that was faster than what analysts were expecting. this is actually the first

positive set of data under the new labour government. let's see what else we'll have in store. when thinking about the uk, a brief note to suggest that we heard from the chief economist from the bank of england and he suggested, however, once again, potential rate cut. at this stage, some traders are scaling back expectations in terms of seeing a rate cut in the month of august. let's see what the bank of england will have in store for us. with that in mind, let's show you how sectors are trading at this stage. the only one in the negative territory at this stage is oil and gas currently lower by .2%. we were digesting the comments over there from the iea in terms of global oil demand. more broadly, though, some moves in the sector are also related to updates from analysts. the portuguese energy company

was downgraded this morning. that is having immelmaimplicati here. i want to talk about the banks. one important stock is dnb. they reported higher numbers. that is also fueling some momentum in this space, too. all in all, at this stage, investors digesting what we are getting stateside with the economic picture. on top of that, it is also about monetary policy comments. i mentioned the bank of england and then jay powell yesterday. on top of that, we are starting to see the second quarter reporting here in europe. that is going to get further ground in the next couple of weeks. of course, we will continue to monitor that as well. i want to take you to u.s. futures as we approach the session on wall street as well. at this stage, we are seeing futures suggesting it could be lower start to the trading session on wall street. this is actually quite

interesting because yesterday we did see the s&p and nasdaq posting fresh record highs. of course, all eyes today on that cpi print. it will be a very important one for the markets. economists are actually expecting cpi to rise 0.1% month over month and 3.1% year over year. let's see what sort of number we'll get, but that is likely to have ramifications across the markets. now looking at u.s. politics, vermont senator peter welsh is the first to publicly call on president biden to end his re-election bid. in a washington post op-ed, he urged biden to step aside for the good of the country. the former house speaker as well and staunch biden supporter,

nancy pelosi spoke out to cnbc when she failed to fully endorse his candidacy. >> it is up to the president to decide if he is going to run. we are all encouraging him to make that decision because time is running short. the, i think, overwhelming support of the caucus, it is not for me to say, i'm not the head of the caucus anymore. he is beloved and he is respected and people want him to make that decision. >> and the actor george clooney weighed in on the biden cand candidacy. clooney writing he should step aside. warning he cannot win in november saying the party needs a new nominee as he called on lawmakers to ask biden to step aside. let' let's look at the economic

data in the uk. as a jump in housing construction boosted overall output on a three-month basis with growth being the strongest since january of 2022. the bank of england chief economist saying they are showing uncomfortable strength as traders eye the next interest rate decision on august 1st. annual rates of wage growth and certify services inflation have held close to 6% despite the highest levels in 16 years since august. he said the timing of any potential cut is still, quote, an open question. meanwhile, the policymaker saying she is not ready to back a rate cut saying the 2% inflation the bank has seen is

quote touch and go. the governor de galhau saying the french economy is resisting the political turmoil and suggested the budget will be unveiled in september and hopes for more political clarity by that time. the french president emmanuel macron has called on mainstream lawmakers to form a coalition. macron wrote in the open letter to the french people that those with republican values should come together for a solid majority from which he intends to choose a prime minister. arjun is in paris and he has all the buzz on the flip and fold. arjun. >> reporter: that's right. the star of the show is the galaxy ring here in paris.

the first foray in the smart rings. i'll look at that after this break. stay tuned.

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welcome back, everyone. uk's financial conduct authority announces the revamp of rules. the growing trend of british companies courted for take private m&a. the rules will allow firms to take more decisions without having to go to shareholders for app approval. it will give them more scope to adopt structures as well. the chancellor rachel reveves says this is a significant first step to the capital markets. arabile asked the executive director of market and international sarah prichard about the listings. >> we heard with the

consultation prices in the uk system are not seen elsewhere. they were creating a barrier for companies that might otherwise have considered the uk. what we have sought to do today in the final rule set is look at the international comparison and look at the final rules set that is appropriate for the uk going forward. we have been up front, clearly, that this does create a different balance of risk. we had a very public and consultation to help us settle these final set of rules. we know there is greater responsibility going forward for investors to hold the companies they aim to account. that is why we are very much focused on this rules set to make sure the information is in the hands of investors through the disclosure based system to make their own decisions going forward. >> let's see if the new rules will indeed lead to new listings in the uk. the second quarter estimates posting a net profit of 27

billion cronas. it helped with the increasing wages and borrowing costs improving consumer sentiment. shares at this stage striking higher by almost 6%. the dnb cfo told cnbc why a growing norwegian economy has concerns about the rising house prices. >> housing prices have increased 81% year to date in 2024. is this sustainable over time? it is difficult to say. you know, that is just increasing housing prices is not good unless there is a strength in the economy and you also see there is growing real wages. the fact we are now seeing a shift in the consumers are more optimistic, people have work. unemployment levels are 2%. that means people have a stable income looking ahead. also, there are too little new builds being made in norway for

a very long time. the demand is still significantly higher than the supply and we need an uptick in new builds and properties and then we will expect to see a decrease in the increased housing prices. again, our economists expect the housing prices to continue to increase in the years to come. in other corporate news this morning, investors taking a bite out of barry callebaut. the company is on track for the worst day since 2018after posting nine-month results. sales were up 0.4% on the year, but down for the third quarter. the company cited a challenging environment and rise in cocoa prices. and samsung has a number of new products including a smartphone and ring and watch. it unpacked the event in paris on wednesday.

arjun is on the ground in paris and filed this report as he checked out samsung's shiny new offerings. >> reporter: this is the samsung gallaxy ring. this is a product known as a smart ring. there are a bunch of sensors that can pick up your heart rate and exercise. it is light range. it connects to your smartphone and you put it on and it starts reading that data which you can see in the samsung health app. samsung says it has up to seven days on battery. if you are running low, it comes with the handy charging case, much like modern day ear buds. you pop it in the case and close it and it starts charging. >> arjun is still in paris with more. arjun, i was interested particularly in the ring. explain to us the benefit of the

ring given that most of us now have a smartwatch as well. >> reporter: one of the interesting plays of the event was really about samsung trying to say we have smartphones and smartwatches and the broader product in the ring. it is all part of the ecosystem of the galaxy trying to keep users tengaged. the ring alongside your smartwatch will give you better and richer health data with your sleep and exercise. more data than you would get with your smartwatch alone. the question is at $399, it is an expensive product. what is the uptake on that? the ring was the big part of the story and the smartphones with the flip 6. they had big hardware upgrades, samsung focused on galaxy a.i. the suite of a.i. products it is

putting across its devices. it shows how the foldable phones can bring an experience with a.i. there was an interpreter application where both screens when open on the fold could be used to help translation between two people. it was all about the upgrades, but how this is all brought together by the software. as i mentioned, the big question was over the price of the ring, but also whether these new features were enough to get people to upgrade to the expensive phones. that's the question i put to patrick shoma, the executive vice president at samsung electronics. i asked if there was enough to get people to go out and buy them. listen to what he has to say. >> we are seeing a continued demand for innovation and continued demand for quality. we are very bullish. we have been surprised by the

s-24 which has done well. not only the sales, but also the usage of the function is very high. we see people adopting this new usage in a great way and the customer feedback. satisfaction is very high. this is one more product for customers and we have a complete portfolio for galaxy smartphone. >> reporter: a couple of things play into samsung's favor. one fact is the premium end of the market of phones are doing well. s-24 phone launched earlier this year has seen some success. that is something samsung is hoping to reveal with the phones. the question is there enough in the new devices and enough on the software side to get people to upgrade and particularly with the ring, is that price point too steep for a new product? those are the questions we are

focusing on the next few months as these devices hit the market, silvia. >> when it comes to the ring, arjun, i'm not sure i want more information about my sleep. that's a personal feeling. i want your thoughts on something we reported yesterday. workers were extending their strike, samsung electronics, were extending their strikes. i want to know if there were conversations on this on the ground in paris at this unveiling event? >> reporter: well, it was samsung clearly keen to avoid that topic here. they had a big focus on the new device launch. the company publicly said they are not expecting any disruption to production. if they do go on quite long, there will be growing concerns as they bring a new device to market and whether those strikes will impact the way this device can come to market with production as well.

throw those are lingering concerns. samsung trying to gloss over that here and it is all about the new devices as well. >> thank you for your reporting and enjoy the last couple of hours in paris. coming up on the show, nato leaders are set to unveil 40 billion euro in fresh military aid for ukraine. we'll have all the details after this break.

welcome back to "street signs." i'm silvia amaro and here are your headlines. european equities open higher taking kcue from the u.s. major. the attention now turning to today's cpi print. the iea says growth ex expectations for the full year remain largely in tact. >> we are seeing a slowdown in oil demand growth. even so, prices did recover as the market is expected to be

tighter in the third quarter. we increased our heightened our geopolitical tensions in the middle east is what is keeping the market on its toes. top democratic fund-raiser george clooney adds star power to the growing calls for president biden to drop out of the race and former house speaker nancy pelosi telling cnbc any decision must be quick. >> it is up to the president to decide if he is going to run. we're all encouraging him to make that decision because time is running short. nato leaders prepare to announce fresh aid to ukraine and discussing the criticism of china over support of russia. >> china and iran and north korea are a challenge for western democracies. >> there needs to be cooperation and trade, but also be clear

elements. now nato leaders are set to announce 40 billion euro in fresh military aid for ukraine this year according to a draft communique followed by the secretary-general. the draft document showcases the language on china describing the country as an enabler of the rus russia's war element. and steve has been asking top diplomats on the november vote. >> what i see in the united states is deep support for the alliance by the american public and by congress. look, candidates say things on the campaign trail that don't turn out to be reality. >> you want to work with america

with the democratic president or republican president because for us it is important to work with the most important democracy in the world. in defense, in freedom, democracy, we are two faces of the same coin. >> sweden is attending the first nato summit since becoming the full member of the alliance. nato membership in the nordics. >> we happily admit we did apply for nato membership because of what happened in ukraine. we seek more common security. that was the fundamental reason. when we say that, we also say that we have things to bring to the alliance. we bring stability in our part of the world. we just have a look at the map. normally we bring geography.

the northern part of europe becomes a more solid nato soil with the baltic sea. we bring a few military capacities into the alliance as well. >> swedes feel part of the alliance. it must have brought more cyber attacks or more threats, of course, from the russians. you want to tell us how things have changed in the recent months and years since sweden got closer to nato and when it became part of nato? >> i think for most swedes, it is nothing new. we have been cooperating with fla nato for such a long time. if you are almost in the club, why don't be in the club and take full responsibility and have all of the advantages as well? russia has seen that as well.

of course, they don't like our cooperation previously and they even less like the fact we now are allies. we haven't seen that much of a change. they speak in a hostile way. they use all their hybrid methods. we are acquainted with them. we have a population which is very resilient toward, i would say, toward the russian attempt. >> the norwegian prime minister also caught up with steve explaining the language on china in nato's draft communique. >> we see nato now threatened by the perceive of russia. it is happening in the country which is not a nato country. there are countries feeling that very directly. sadly, i would say, we have a lot of evidence that china is contributing to that war.

direct or indirectly. that is really to be regretted. this is in a different category than the direct threat represented by russia. i think we talk about china in this communication which is a clear message about how we perceive them. at the same time, we should continue to deal with china. there are areas where we need to cooperate with china on climate change and managing new technologies. we should, you know, not be naive and be very direct in our observations and language about what happens. >> many relevant conversations taking place. let's discuss them with our next guest. senior fellow. good morning. good to see you once again. there's so many angles i could take from this nato summit. i believe the first question i have to pose is actually about where the nato alliance stands at this stage. you have a u.s. president under

a lot of scrutiny and calls for him to step aside. macron also visibly more vulnerable in the wake of the election in france. scholz, also a weak leader at this stage. ultimately, is the nato alliance shaky at this stage despite the new members? i'm not sure you can hear me. my question was around whether the defense alliance is in shaky grounds at this stage given that we have seen new members joining. nonetheless, you have all of this pressure at this stage on the u.s. president and macron, the president of france, more vulnerable in the wake of the election. do we still have him? okay. i believe that he cannot hear us for the time being. we are having technical issues

at this stage. perhaps we can visit this conversation later on in the show because this is a very important nato summit not only with the war in ukraine and the defense alliance and the calls on china and naturally the pressure on the u.s. president. coming up on the show, we'll be looking at the cpi printout of the united states that's due later on today. we'll discuss the details after this break.

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welcome back to "street signs." i want to revisit our conversations around geopolitics because after the nato summit, there is a lot of pressure on the u.s. president and also hungary and how the prime minister has shuttled diplomacy visiting russia and visiting china and strong words to suggest that china has been enabling russian actions in ukraine. let's see if i can get into my

next guest with the senior fellow at bruegel. i hope you can hear me now. >> yes, yes. >> first, i would like to ask you where nato stands at this stage. as i was highlighting there, you have the u.s. president under pressure at this stage and macron more vulnerable after the elections and scholz as well. is nato shaky despite the new members? >> the alliance got stronger with the two new members. it is still the strongest military alliance we have in the world. at the same time, it is clear that china and russia are also getting massively stronger and then there are lots of domestic problems as you mentioned the u.s. president and france and it

is unclear how the government will form and germany is weakened. despite all of that domestic weakness, leaders manage to agree on the support package which is good news. >> we are seeing growing reports surrounding german officials visiting members of the trump group. ultimately, is this the right approach as we are starting to read more and more about how officials are trying to get closer to trump and trying to understand what his plans are at a time when also market players are increasingly more confident we are likely to see another trump presidency? >> listen, we don't know, of course, who will be elected, but i think what we do know is the likelihood of trump being elected has increased after the debate performance of president

biden. therefore, europeans have deliberately reached out at the summit in washington, d.c. to people close to trump because donald trump would mean a big break in a couple of nato policies. particularly on the question of ukraine and support to ukraine. there is lots of rumors. there is some peace plans that have been proposed by thinkers around trump and trump has seen them favorably and that would imply that ukraine gives up a lot of territory and would have to negotiate with russia which i think could be quite a dangerous road because it would embolden the russian dictator putin and still leave open the question who guarantees the security of ukraine after that. so, i think there's a lot of

really big issues at stake here. the deterrence of the european continent is another dimension we need to discuss how to ensure that europe is defended and donald trump has said he is committed to europe, but he also said for those countries that don't pay the 2%, you know, you risk being directly attacked by putin and the u.s. wouldn't do anything. that, of course, puts a lot of questions into the durability. >> you said he is still committed to europe, but ultimately the comments he would not go and support countries in the nato membership and not spending the 2% defense spending target. ultimately, isn't that proof enough that the defense alliance

cannot trust trump if he becomes the next president? >> well, i think what the big strategic question for donald trump would be about how much emphasis and how important europe is for him and for the u.s. i think the latest news, in particular, the fact that china is now doing military exercises in belarus right at the polish border is a sign that this is not just about russia and europe, but really a broader systemic conflict between russia and increasingly china on the one hand and the west on the other. rationally, we should really think that the nato alliance remains absolutely central of key importance to whoever is in the white house. >> right. >> of course, we know it is not always like that with politics

and trump may think differently. >> the communique calling china the enabler for russia in the war with ukraine. what will this do? what will this change? >> immediately, not so much, but, of course, it's a clear sign. we know that there's a lot of western technology in russian weapons and we know, including the weapon, the missile that hit the hospital in kyiv and we know this technology reaches russia via china and other countries. it is a strong signal that we take that kind of support, logistical support, increasingly seriously. that means countries would start sanctioning china, perhaps, with secondary sanctions more directly. >> very clear. let's see what happens. i'm glad we managed to have that conversation. that was the senior fellow at

bruegel. today, the big market event is the release of the all important u.s. inflation reading for the month of june. the headline is seen dipping to 3.1% on the year. now i'm pleased to say to discuss this in detail is the chief investment strategist at evelyn partners. good morning. i hope you can hear me, too. i would like to understand from your point of view what are your expectations for the cpi print today? is it going to change the way markets are feeling about the first rate cut from the fed? >> probably not. the headline rate of inflation as you say is expected to decelerate to 3.1%. that is well down from 9% in the summer of june of 2022. we think there are three reasons to expect inflation to continue to decelerate or at least not surprise on the upside over the coming months. first thing is the disruption caused by the pandemic is still

unwinding. one way you can catch that is looking at shelter cpi inflation. if the signs of that continue to slowdown, that is a good signal. if you look at inflation expectations and vary surveys of consumers. michigan survey show it is down 3%. if these remain fairly low, companies won't raise prices soon and it puts pressure on inflation. the third reason is the dollar. that kept import prices down and also keeps cpi goods price inflation down as well. it is a combination of those three factors that do suggest the trend of inflation is due to slow from here. >> i also saw your comment around the rate cut could mean for equities. you are suggesting it could mean a boost to the further rally we have seen thus far.

ultimately why? if we get a fed cut, it would be 25 basis points. it doesn't signal if we will see further cuts for the rest of the year. how are you so confident this could actually improve the rally in equities? >> firstly, when we look at the expectations of interest rates, they are expected to cut them by 25 basis points, as you you say september. they could bring forward the interest rates cuts further. it is worth bearing in mind the fed is cutting back on the quantitative tightening. that is another way to boost liquidity in the system. earnings expectations continue to grow. in fact, globally next year, we expect earnings to rise by 13 s13%. that's been steadily accelerating. that is twofold. the economy is looking to improve. the expectations in the u.s., it

is growing by 2%. it has accelerated. the second fact is the profit margins. this is most misunderstood. profit margins are at regcord highs. this is due to shrinkinflation. >> clear. daniel, i would also like to understand what sectors you think will benefit for the rest of the year? so far, this rally has been focused on a.i. names. anything that could actually change? any indication this could be different for the rest of the year? >> we still hold our core holdings in a.i.-related stocks. that should be part of your portfolio. in terms of broadening out, we want to look at other areas that benefit from a.i. that would include industrials for electrical equipment. if you think about it, if you do

a chatgpt query, it uses tenele. we think that might be prudent to start broadening out to other areas of the market. that includes industrials. >> right. let's see what's going to happen for the rest of the year and the cpi print later on this morning. thank you for your time. as for "street signs," as we approach the end of the show, i want to show you european equities and how they are trading for the session. the majority of the boards are trading in green at this stage. continuing that momentum we saw during wednesday's session when the stoxx 600 gained almost 1% and broke that three-day losing streak. that continues to be the case today. f of course, as we look at the u.s. open with futures at this

stage. suggest a lower start to the day on wall street after the strong session yesterday with the s&p and nasdaq posting fresh record highs. and we all eyes on the cpi print suggesting to be 3.1% year over year. that would highlight an amazing month of june. let's wait for that data to understand what does that mean for equities naturally for the fed as well. that is it for today's show. we'll have more for you tomorrow. i'm silvia amaro. "worldwide exchange" is coming up next. to duckduckgo on all your devie

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it is 5:00 a.m. here at cnbc global headquarters. i'm frank holland and here is your "five@5." is the rally at risk? stocks hit another record close and investors bracing for the cpi report today. global stocks moving higher after hotter than expected growth data from the uk this morning. we get a check from london this morning. and growing calls from politicians and celebrities for biden to pull out of the race for the white house. and costco