Skip to main content

tv   Street Signs  CNBC  July 15, 2024 4:00am-5:00am EDT

4:00 am
♪ welcome to "street signs." my name is arabile gumede and these are your headlines. take a look at what happened. [ screams ] >> former president donald trump surviving an assis assassinatio
4:01 am
attempt days ahead of the rnc. president biden addresses the nation from the oval office asking americans to stay stock while calling for unity. >> there's no place in america for this kind of violence, for any violence, ever, period. no exceptions. we can't allow this violence to be normalized. the political rhetoric in this country has gotten very heated. it's time to cool down. shares in the discount pile as swatch posts a steep fall in first half sales while burberry with a warning with the departure of its ceo. china's second-quarter gdp with below expectations with say
4:02 am
slowdown in factory input as well as retail sales. welcome. former u.s. president and presumptive republican nominee, donald trump, has landed in milwaukee for the republican national convention. trump says he was shot in the ear in saturday's shooting. trump says he has rewritten his convention speech to focus on unity telling the washington examiner the event is a chance to bring the country together. that address is expected on thursday. now, president biden gave an oval office address on sunday calling americans to lower the temperature on political rhetoric in what has already
4:03 am
been a fraction campaign. >> politics must never been a battlefield and, god forbid, a killing field. to pursue justice and guided by the declaration of independence. we stand for america, not for fury, but decency and grace. all of us now face the time tested as the election app appr approaches. this place is an added burden on each of us to ensure no matter how strong our convictions, we knew never decscend into violence. the republican national convention starts tomorrow. i'll travel this week and talk about our vision for the country. i'll continue to speak out strongly and stand up for the constitution and the rule of
4:04 am
law. to call for action at the ballot box, no violence in our streets. that's how democracy should work. >> now president biden's team pulled tv ads and other political communications in the wake of the saturday shooting and will resume drawing the contrast between him and trump after biden's interview tonight on nbc news. meanwhile, the fbi says it is investigating the attack as a possible act of domestic terrorism after a number of suspicious devices were found in the home as well as car of shooter thomas matthew crooks. the secret service comes under scrutiny with the sources telling nbc the rooftop crooks shot from was a security vulnerability before the rally took place. the congress will investigate
4:05 am
saturday's assassination attempt. let's look at the market with the safety plays particularly so far in terms of the dollar/yen which is stable for now after what looked like intervention. there was a shot up in the dollar so far. you see the dollar index marginally higher. yields did inch up as well at 4.21 for the ten-year note stateside. gold dropping off and still holding on to the $2,400 handle. in terms of cryptocurrency, crypto has managed to gain 5% so far. bitcoin in particular this morning gaining to $62,918. here is the look at the futures as we head to the market open. there will be focus on the earnings that come through from friday and the bank earnings.
4:06 am
the market will look at the trump issues and the premium. let's look at the djt, this is trump media and technology. that has gone up 70% with estimations as well as perhaps donald trump may indeed look more likely, according to a poll here, that suggests that he does have a great chance. online betting side has a republican win at 66% from 60% on friday. let's unpack this story a little bit more. st steve is joining us more to get into the weeds. steve, you had this conversation this morning already. how big of a rama ification is this on the stateside election? >> i was covering nato and speaking to a lot of people about the u.s. political
4:07 am
situation. no doubt about it. it was already gripping the country even though we don't have the election until november. we have a long run-up. the truth of the matter was, mr. trump was ahead already especially in all of the swing states or purple states. joe biden was having problems after that dreadful debate. he shored up his position and you had the situation where certain democrat donors and fund-raisers and celebrities saying it was time to go. that conversation is bubbling under the surface. now we switch to milwaukee, wisconsin and the strong position for mr. trump. the problem for the biden an at attack or the biden's last four years, is the fact that a lot of the defense rested on the attack they were attacking donald trump and the existential democracy. a lot of the attack was actually
4:08 am
quite personal toward mr. trump a saying if you reelect this man, this is what you will get. in speaker johnson saying dialing in the rhetoric, that should apply to both sides. the problem for the biden administration, a lot of the attacks were about the man himself, were about mr. trump. if they dial that in, they are left to going back to looking at the economic record and political record and quite frankly, despite the fact that actually a lot of things have happened that are verypositive under mr. biden, americans by and large with the pew research and other research, are not feeling the economic benefits which brings us back to the markets. jamie dimon and mark mason and others have all been saying pretty much in the last 72 hours there are concerns of echelon of americans are struggling with late payments and delinquencies as higher interest rates for
4:09 am
longer. a lot of those consumers who are also swing voters. there i therein lies the big problem. you and karen have been covering the markets mostly on "squawk box" and this show. the market is moving around like this and because of the, thankfully failed assassination attempt on donald trump, the market is doing y. we are all trying to say this is the reaction. quite frankly, having studied the horrendous political he ve events in the last quarter century, the political event and act of violence does not translate into a market move. when looking at these he eventsd with karen on the tail end of show, the moves are stock specific with burberry and ocado and swatch this morning.
4:10 am
they are not specific to the united states. it is the other side of the pacific and the numbers coming out of china on many fronts, whether it be household spending or discretionary spending. there are real concerns that actually as we go into the key plenum in china with president xi, there are large parts of the economy in china that are struggling with the four handle. >> would the market, steve, be looking at it with the expectation now according to analysts moves the republicans further ahead in the polling, does the market adjust to get used to that or has the run-up already happened? >> i think, "a" it has already happened. >> four months. >> does the market rally on the trump presidency or does the market decline on the trump presidency? one thing you can say with not a
4:11 am
degree of certainty, but likelihood that the tax breaks that were put in or rolled forward are looking at the way of increasing the ten-year tax cuts, which means you will have more strains on the u.s. budget. some people are talking about an extra $4 trillion. either way, look at the cbo data going forward and the numbers look very tough for whoever is in the administration. that in itself could put pressure on the underlining stre treasuries and high yields. the fiscal position is not looking pretty no matter who is the u.s. president. >> steve, always great getting insights from you. thank you for joining us on "street signs." we'll give you live pictures from inside the venue at the republican national convention in milwaukee where proceedings will kickoff and scheduled later today. now greg swenson is the chairman
4:12 am
of the republicans overseas and joins us from milwaukee. greg, thank you so much for the time on really what is a horrible set of news and thankfully it is only an attempted assassination in this regard, nothing happening further from that. of course, we must say condolences as well to the families of those which have lost that one person and the other two injured right now. greg, where does this leave the democratic party? >> i think the democratic party will have to change course a little bit. you saw that in president biden's comments last night from the oval office. he is trying to bring down the temperature and lower the tense debate between the parties. the debate is okay, but not the levels ofand ager. i think the democratic party will dial it down at least in
4:13 am
the near term. i can't tell you how long that well last. the strategy still has to ch change. >> the run-up in november. do you think the tone will change from president biden or mr. trump? >> yes, i think they will. in the case of president biden, you saw that already in his address. granted, it was delivered by teleprompter and wasn't terribly motivating. i think with president trump, you have seen it with the comments he released on truth social or through the campaign. he did arrive in milwaukee last night. i imagine he will be making an appearance today. he is rewriting or the team is rewriting his campaign speech for thursday and it will be much less about criticizing president biden and much more about unity and unifying the country and not just the party. you also have nikki haley and
4:14 am
ron desantis speaking. you are seeing an obvious sense of unity within the republican party, but you will see president trump sticking to his statements and talking about the country, not just the party. >> greg, how poignant is this for the u.s. democracy? is that somewhat at risk here or is this how the foundation might be made firmer because unity is started being spoken about more? unity starts to become an an engrained part of the conversation? which direction is this going to take? i ask this question two different ways. it is to get a clear sense of where does the risk lie now and how fearful should americans be and the globe be of the violence that could stem from this? >> well, i don't think there will be any violence stemming from this. it is actually moving in the other direction.
4:15 am
there's been political violence around the world recently. you had two mps in the uk died or murdered in the last several years. you saw abe in japan. you've seen political violence. all through history, frankly. i don't think this is a particularly worrisome point because of this lone gunman, you know, on saturday. but i do think that it's healthy to dial down the rhetoric and dial down the hatred that you see between people that disagree politically. it is not healthy. i'm optimistic. i don't think it is as bad as others do. i haven't seen a lot of examples of political violence in the u.s. accept the protests, of course, and the summer of 2020 riots. but i don't think this will escalate and i think both president biden and president trump are doing a good job of trying to dial it down.
4:16 am
>> there is another as expect being social media, of course, which has tended to heighten things as well over the last few years. what do you think the role of that is and i only have it time to ask you just homeland security andsecret service will be under scrutiny as well? >> yeah, on social media, it is obvious. you have seen in the news in the last 24 hours or 36 hours since the assassination attempt, the hatred on social media is definitely not healthy. even coming from politicians. we've even seen more coming from politicians. that's not a good thing and that's something that i think society in general has to add address. in terms of the secret service and the investigation that's been called for and it was quite obvious there was a failure at least the senior level or the
4:17 am
level of people doing the events work leaving that sort of vulnerability on the building that the gunman was crawling around on and shot from. so, that was clearly a vulnerability. that has to be investigated and fixed. whether that means from the top-down or just the specific investigation on the failures of this specific incident. however, it doesn't reduce any of the fact that the bravery of these secret service officers, especially the four or five that surrounded president trump, is pretty standard operating, but it is amazing to see it in action when they were willing to take a bullet for the person they were protecting. i thought president trump was reassuring to the crowd at the rally and they all responded quite positively. there was no incentive for more violence or no rhetoric about
4:18 am
getting back at anybody. this was a lone -- as far as i know, a lone wolf incident. was it inspired by social media? it very well might have been. was it inspired by hatred or language of hatred on the left? possibly. it is healthy for everybody to dial it down. >> greg, thank you for joining us and unpack this heinous event. greg swanson in milwaukee then. the former president donald trump will accept that nomination at the republican national convention. coming up on the show, burberry announces a new ceo and profit warning. we'll have the details next.
4:19 am
4:20 am
when we're young, we're told anything is possible... ...but only a few of us go out and prove it. witness the greatness of anna hall on a connection worthy of gold: xfinity mobile. only xfinity gives you the most powerful mobile wifi network, with speeds up to a gig in millions of locations. and right now, get up to $800 off the new galaxy z flip6 and z fold6 when you trade in your current phone. get the fastest connection to paris with xfinity. this summer. snacking. just. got. serious. introducing new $3 footlong dippers.
4:21 am
the world might not be ready for them... ...but at $3 a pop? your wallet definitely is. ♪ welcome to it. a quick check on the european markets then and we're down across the board other than the swiss market so far which is up .10%. the rest of the market is really in red territory.
4:22 am
spain going down .50%. specifically because of two stories which looks like all in the luxury sector. swatch started off with a 14% drop with sales at current exchange rates. the decline was driven by a sharp drop in demand for luxury goods and china expects the market to remain challenging until the end of the year. at the same time burberry ceo jonathan akeroyd is stepping down and joshua schulman being named as they are suspending its dividend. charlotte is joining us for more. burberry has been struggling for some time and it doesn't seem anything has worked and the ceo falling on his sword. >> this is what would happen in the middle of the slowdown in
4:23 am
the luxury goods. burberry had the profit warning and the numbers came in three months ago and operating profit down 34%. they warned that the business in the first half of the year would be difficult, but now the pre-release of the numbers this morning and they were expected on friday and saying this is tougher than they had expected with the sales down 20% on the comparable basis. they said weakness they highlighted into 2025 has deepened and if the current trend persists through q2, they expect an operating loss in the first half. of course, a lot of exposure with burberry there with the sales down 21%. this demand from the luxury consumer is not coming back very much. they mentioned weakness across the board for the different brands. again, the turn around story and the creative director in october of 2022.
4:24 am
the first collection in february of 2023 and the first products started hitting stores in september of 2023. they were waiting to see if the products coming into the store would see the turn in the trends, but they haven't seen that. that is why we see the ceo who joined in april of 2022 is stepping down and replaced by joshua schulman, as you said has been ceo of michael kors and coach as wellenm as jimmy choo. the chair speaking on the call apparently said maybe with hindsight, given the global slowdown, maybe they went too far and too fast in the new proposal. they will refocus their proposal with the core products. outer wear is what they mentioned has been going well
4:25 am
with the scarf sales. they said the new creative director is here to stay for now. they will stick to this. certainly, it is tough to operate a turn around with global demand down and the luxury stocks lower and particularly kering, which also is in a turn around story. >> 4% lower today for kering. that gives you a sense. >> the earnings coming in the last couple weeks from the other luxury players. >> burberry saying a few hundred roles are at risk globeally, mot in uk. thank you, charlotte. let's head to the cio. claudia, if we take a broad stroke at luxury sector, it hasn't been the standouts for too long. there are certain players in that space.
4:26 am
how do you view that luxury space? >> i think we are really seeing some weakening demand and not only out of china, but we were speaking about when we get in china on the consumer demand because china is still impacted by the negative trend in the real estate market. when you look at ueurope, the savings rate is still very high as well as france. you see the rate high and the consumer demand slowing down and it is clear the overall consumer sector in luxury will be impacted. what is interesting is that we have a very good trend up last year and then we havea stock specific inn impact. on the french name, i see the political risks that are probably unjustified considering
4:27 am
the company is very revenue growth which is international and not only local focus. >> one looks at those valuations and one would think do you stay in the sector even in the tough times when you have such a difficult economic picture happening globally as well? a picture of recovery doesn't seem like this sector grows when particular through that has happened. nonetheless, we overall are getting into the earnings season. what is your -- how significant and how important is this earnings season then to the state of the market for the remainder of the year? >> i think earnings season, usually, is a season which will be important coming in two or three weeks. what is important is the inflation rate. it is such a slowdown in consumer demand and also because interest rates are too high and especially in the eurozone. if you have, let's say, volatility under the earnings
4:28 am
season, that scentral banks stat to cut rates, then it impacts the luxury names as well. >> the consumer names are ones to look out for. is the entire bet for the remainder of the year the interest rate cuts? are there fundamentals for continued growth and perhaps consumers getting back into the swing of things, whether it be construction going up again, et ce cetera? are there other fundamental changes or based on the central banks? >> i mean, central bank is certainly important and central bank driven by inflation. people are being beaten because of the interest rates being so high. once you have interest rates coming down, you have a double effect. you have people which are not saving because interest rates are less appealing.
4:29 am
you have liquidity lower and always because if you want to take credit, you can buy a house would be much less expensive. remember that the european economy is driven by bucks. if you have tightening credit conditions, people spend less. consumer demand is low. if you have lower interest rates widening credit conditions and more liquidity injected into the system, that is a big support for the consumer. i think you need to look both inflation and interest rates and we will probably have the ecb this week. we are not expecting a cut in rates, but we expect another .25 cut in september. i don't think people realize how important that is with the consumer with interest rates. >> claudia, we have to leave it there. i really appreciate your time.
4:30 am
claudia is the cio in france at ubs. let's look at the asian market and see how things are faring there. asian stocks are lower with the nikkei dropping off 2.5% in the post-lunch session with the hang seng 1.5% weaker. the chinese gdp numbers came out today missing expectations a alongside the impact of the assassination attempt being looked at in the market and trying to find direction to that. it all comes along with the lower expected gdp number. retail sales for june coming in lower than anticipated. that picked up 2% for the year compared to 3.3%. the slowdown you are seeing in the chinese market. non cyclicals is dropping the hang seng lower. speaking of china, their economy grew less than expected in the second quarter. property woes and job insecurity
4:31 am
weighed on demand. gdp grew 4.7%. that is well down on the previous three months and boosting expectations of more stimulus from beijing. goldman sachs results are due out before the bell today. lseg forecasting second quarter revenue of $12.46 billion with earnings per share coming in at $8.37. they are eyeing banking revenue which the street expects to come in at $1.8 billion. u.s. banks did kickoff earnings season on friday. jpmorgan chase topped second quarter expectations as revenue rose 20% and rose to $51 billion. investment banking fees took center stage surging 52% on the year. however, ceo jamie dimon struck a cautious tone in the release warning the current geopolitical
4:32 am
situation is, quote, potentially the most dangerous since world war ii. it was a similar story at citibank with revenue growing $60-60 million. jumping 4%. the earnings picture is one to really look out for. we have been talking about whether those numbers would be continuously is stretched as interest rates peak as they look to be headed lower. are consumers now beginning to hit a point where they are struggling a bit? you see the revenues, particularly citi up 4%, as the investment banking side pushing things higher. overall, even for wells fargo, only 1% higher there. the big behemoth, jpmorgan chase, up 20%. how wide spread does that become in the difficult time for consumers as they continue to feel the brunt of the higher interest rates? that as well as citi's recovery,
4:33 am
how much of that is still in place? is there one area which you can focus on for citi and see the consistent growth and think enough has pretty much been done to those snnumbers? overall, does that kickoff what we anticipate to see from the banking numbers? when you look at the valuations of the lenders, it really tells you how significant a move you are likely to get even as well from the banks and as we head to the next set of earnings, do those have enough legs and give off the sense that banking is, indeed, firmer? these are clearly a sense of what the economy then looks like. just to give you a clear sense of what is also to come, of course, this week then. we just heard from the likes of jpmorgan chase and citi and wells fargo. still looking out for the
4:34 am
goldman sachs numbers. morgan stanley and bank of america also. that's what the bank session pretty much looked like on friday. as you see, that's the movement that has been happening. from the late part of last year, which is actually when the fed had made that pivot to say that rates are restrictive enough and will begin to look like this is where they'll stay and then hopefully drop off as ultimately the next move. that's how you see the share prices move significantly higher. how much further do they have to go? how much when it comes to legs, then, do any of those lenders actually have? all right. we'll continue to check in on those numbers because earnings season is in full swing. blackrock is due to report today. don't miss cnbc's interview with larry fink at 15:30 cet. coming up on the show, we will bring you the continuing fallout from the first attempt or the attempt on the life of a
4:35 am
u.s. president with a gun since at nt.n.eaga th'sex un a business on your own. make it easier on yourself. with shopify, you can have your inventory, payments, and customers in sync across all the places you sell. start your journey with a free trial today.
4:36 am
4:37 am
4:38 am
welcome to "street signs." i'm arabile gumede and these are your headlines. >> take a look at what happened. [ gunshots ] >> former u.s. president donald trump surviving an assassination attempt at a pennsylvania rally just days ahead of his formal nomination as the gop presidential dcandidate at the republican national convention. president biden is calling for unity. >> there is no place for violence ever. period. no exceptions. you can't allow this violence to be normal ized. the political rhetoric in this country has gotten heated. it's time to cool it down.
4:39 am
shares of the luxury pile as swatch posts a fall in sales and burberry is on track for its worst day in 12 years as it lists the profit warning and axes its ceo. jpmorgan chase and citi have lowered the growth forecast as china gdp was low driven by the fall in factory sales and consumer spending. now the attempt on the life of former u.s. president donald trump has drawn criticism from leaders around the world. chairman and chancellor olof scholz called it despicable. and he was spoken to trump on the phone as appalled by the incident. house speaker mike johnson made a plea to tone down the rhetoric. >> this is an important point to
4:40 am
make. you were showing the text messages of the colleagues in the senate and house pointed out the rhetoric is over the top. not since lincoln has been vilified and persecuted by media and hollywood elites and figures and the legal system. when the message goes out s constantly that the threat of the election of president trump -- we cannot do that. it's not true. everyone needs to turn the rhetoric down. >> now trump has drawn criticism for his own writrhetoric in thet and including suggesting second amendment people could do something about hillary clinton and his role in the attack on the capitol building which left nine people dead.
4:41 am
the coverage will continue today. we will hear from former house speaker kevin mccarthy and senator chris coons. we have jay gray joining us live from butler, pennsylvania, the scene of saturday's shooting. jay, it certainly is a somber mood in and around pennsylvania, but what is the latest when it comes to the investigation and scenes? >> reporter: hey, arabile, and the rally was held just behind this fence here. the area is still locked down and a crime scene with several investigations. you have the fbi trying to learn as much as they can about the 20-year-old suspect described as an outcast and loner. we know that he allegedly was using a semi automatic rifle that belonged to his father. purchased legally, we are told.
4:42 am
that explosive materials, not necessarily bombs, but the materials, perhaps, to create explosives were found both in his vehicle as well as his home. we know that his cell phone and other electronics are being analyzed at quantico right now. invest investigators are hopeful that information can provide something on the suspect and why he was trying to kill the former president. as for the former president trump, he is in milwaukee this morning preparing for the opening of the republican national convention saying he will not let a shooter or the assassination attempt change his mood. we know that president biden has reached out to the former
4:43 am
president and said they spoke briefly on the phone. last night, addressed the nation from the oval office calling for a tamping down of what's been a campaign season filled with anger and vitriol asking for calm to take place and calling for unity. that's something that we've been told overnight the president will talk about during his keynote address at this convention later in the week. changing the focus from his opponent, president biden, to calling for unity and calling for the nation to come together in the wake of the attempted assassination. >> jay, this is unparallel, these type of events happening as well. really appreciate the time joining us this morning. so early as well in the morning. this is jay gray from nbc news. for our u.s. viewers, nbc's
4:44 am
lester holt will speak exclusively to president joe biden tonight. tune in at 9:00 p.m. eastern. we will bring you the highlights and key moments tomorrow morning here on cnbc. coming up on the show, we will bring you the latest as attention shifts to the republican national convention.
4:45 am
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
4:46 am
walmart and drinkcirkul.com. this summer. snacking. just. got. serious. introducing new $3 footlong dippers. the world might not be ready for them... ...but at $3 a pop? your wallet definitely is. when we're young, we're told anything is possible... ...but at ...but only a few of us go out and prove it. witness the greatness of anna hall on a connection worthy of gold: xfinity mobile. only xfinity gives you the most powerful mobile wifi network, with speeds up to a gig in millions of locations. and right now, get up to $800 off the new galaxy z flip6 and z fold6 when you trade in your current phone. get the fastest connection to paris with xfinity. - reading every day reduces stress, cognitive decline, and improves your sleep. so start a reading streak, even if it's just a few minutes every day. every little bit helps. the more you know.
4:47 am
welcome back now. our colleague joe kernen spoke to trump on sunday evening saying the former president is, quote, doing great and gratified by all of the encouragement and support from both sides of the aisle. joe said trump remains in high spirits. >> he was on the mend. he was in very good spirits. he said, you know, except for this. you know how he talks. there is a little problem in my
4:48 am
right ear. other than, that you probably heard about it. yeah. he said other than that, he's great and he's glad he had turned his head at the last minute. >> quickly, what the trump media and technology stock support. it was up earlier in the show and now 67% higher on the back of that with the on lline betti side with the republican winning at 66%. that was at 60% on friday. democrats looking at a 38% margin on that one. the current odds indicate that republicans are twice as likely to win the elections than democrats. u.s. markets reporter mike santoli said what a donald trump portfolio could look like as they price in an ever increasing likelihood of a trump presidency. >> the banks looking at the
4:49 am
center of what would be a trump portfolio, if you put it that way, based on regulation that would be perhaps a little bit less onerous. this is essentially the rotation in the markets due to the decline in u.s. inflation and increased expectations for federal reserve rate cut over the next come muple of months. that is the way the markets have been rotate away from last week and move into more cyclical and smaller cap and financial stocks. the shooting of former president trump will loom heavily over the republican national convention which begins today in milwaukee, wisconsin. officials say the convention where trump is set to become the republican nominee for the third time will go ahead and planned. trump posted on truth social
4:50 am
platform that he originally planned to delay the appearance by two days, but he could not allow the shooter to force change. we have brie jackson now from milwaukee. brie, you can imagine more of an increased security presence now. >> reporter: that's right. good morning. secret service says they had been planning for this event for about 18 months. so, what we've seen already is ramped up security that was going to happen regardless. after that assassination attempt, we have seen what felt like a more intense and increase presence when it came from law enforcements across all agencies. we have seen state law enforcement and federal law enforcement and local law enforcement here in milwaukee which does kickoff with the republican national convention today. president trump did get to milwaukee last night. as you mentioned, he said he considered delaying his entrance
4:51 am
here following that assassination attempt, but wanted to keep it business as usual and not let that deter him. now, we do know the lineup of speakers that has pretty much remained the same, but when it comes to what the speakers are talking about, organizers told them to stick to the topics they plan to discuss before that assassination attempt happened. they do want speakers to stick to their original speeches and to also focus on uniting the party. that's something that we heard from when we talked to some supporters here on the ground. they said they believe that the assassination attempt of former president trump would further motivate his supporters to come out and further show support for him. >> you wonder what this does of the sense of vitriol that we have seen already within both parties as well. has anybody you've spoken to
4:52 am
given a sense of whether this heightened tensions or brought down the tensions and with regards to the tone, particularly, not just from former president donald trump, but from the whole party? >> reporter: that's a good question. that's something we're hearing from democrats and republicans and all political backgrounds that the tone does need to be toned down whether coming from republicans or democrats or former president trump. i think we are seeing a sense of unity from both parties. former president trump has talked about unifying his party, but we heard from president biden that now is the time for unity and political violence is not acceptable t. . it remains to be seen going forward, but we have heard from members of both parties as well as people on the ground that they would like to see the tone change for the heightened
4:53 am
rhetoric to be brought down and for people to come together. >> very last one, brie. just give us a lodwdown on how proc proceedings. >> reporter: we know there will be a roll call this afternoon. then the fes tivities get under way tomorrow with speakers. we do expect former president trump to name his running mate in the coming days. >> that is one we anticipate here also. we anticipated that over the weekend. brie jackson, i appreciate the time. joining us from that republican national convention then where former president donald trump is anticipated to accept that nomination then to be the nominee for the republican
4:54 am
party. live from wisconsin. now, here is the look at the european markets and in jjust h things have been faring this morning. looking at the assassination attempt on former president donald trump. you are seeing a lot then of the luxury brands actually going down. burberry at the bottom of the stoxx 600 today. 15.4% lower at this time. swatch group also taking a double digit decline of 10% so far this morning. on the retail space, you still have ocado going down 9.7%. a big fall to the bottom of the stoxx 600. when it still comes to the luxury space, i just made note of burberry and swatch, you have kering going down 4% this morning.
4:55 am
r richmont is down 4%. hugo boss feeling a decline. there is an issue in the luxury space as consumers unable to spend as much as they used to on items. lvmh going down 1.9% so far in this early morning trade. > on the back of the assassination attempt, the market will assess the risk profile as you can see not much by way of movement across the board. dollar/yen following on intervention from japanese officials has come through below 158 at present. dollar index pretty much unmoved, so, too, spot gold. the ten-year yield is flat at 4.21. crypto had been one to look out for. we had seen bitcoin move higher 5%, in fact, earlier on in the day's trading. that's what you have gotten now.
4:56 am
4.8% to the good. $62,895 for bitcoin. u.s. futures as the market heads to the open and we are still looking out for the earnings update then coming from some of the lenders. netflix is set to report later on in the week. we will unpack those numbers this week. a quick look at the trump media stock as well then. that going up 67% so far on the back, of course, of the assassination attempt. thank you so much for joining us here on "street signs." that's it for today. my name is arabile gumede. we'll continue our coverage then with "worldwide exchange" up next.
4:57 am
4:58 am
i'm andrea, founder of a boutique handbag brand - andi - and this is why i switched to shopify. it's the challenges that we don't expect, like a site going down or the checkout wouldn't work. what's nice about shopify is when i'm with my family, when i'm taking time off, knowing that i have a site up and running and our business is moving forward because we have a platform that we can rely on. that is gold to us. start your free trial at shopify today. when we're young, we're told anything is possible... ...but only a few of us go out and prove it. witness the greatness of anna hall on a connection worthy of gold: xfinity mobile.
4:59 am
only xfinity gives you the most powerful mobile wifi network, with speeds up to a gig in millions of locations. and right now, get up to $800 off the new galaxy z flip6 and z fold6 when you trade in your current phone. get the fastest connection to paris with xfinity. this summer. snacking. just. got. serious. introducing new $3 footlong dippers. the world might not be ready for them... ...but at $3 a pop? your wallet definitely is.
5:00 am
a call for unity. president biden making a rare oval office address condemning political violence and urging americans to cool down ahead of the election. former president trump landing in milwaukee overnight for the republican national convention deciding against delaying his trip following the assassination attempt in pennsylvania on saturday. he is shifting his messaging after his shooting. and investors are digesting what happened an

59 Views

info Stream Only

Uploaded by TV Archive on