e family did. ♪ good friday morning from london. this is "street signs." i'm dan murphy. all majors modestly in the green. japan's nikkei ending higher, but off session peaks as it struggles so gain ground from the monday selloff. wall street looks to take a breather with futures pointing flat on the back of the s&p 500's best day in almost two years after better than expected

jobless claims. mining stocks topping the ftse after chinese consumer prices come in hotter in july. and uk investment house hargreaves lansdown agrees to a 5.4 billion pound takeover offer led by cvc and the abu dhabi sovereign wealth fund. welcome to the program. let's get straight to it. you see green on the screen for the stoxx 600. we are seeing more signs of stabilization in the markets with the index up 7% and inching closer toward that 500 level. european equity markets tracking global fears higher today and looking to close out the friday session on a more positive note after a week to remember and for some a week to forget in global

equities. easing fears of the u.s. recession and stabilizing markets helped sentiment across the region. let's unpack it and take a look at how markets moved through the course of the week because it is important to highlight it for you. when it comes to the key european markets, ftse is up 4.4%. the cac 40 is gaining .5%. we are seen gains broadly across the markets here. in terms of some of the other key things to point out for you, in germany, with regards to the numbers, inflation inching up to 2.3% in july from 2.2% in june. we are continuing to follow that figure. over in the cac in paris, i mentioned up .50% of 1%. investors digesting the unemployment rate falling from 7.3% in the second quarter falling from 7.5% in the first

quarter. let's look at the markets in the region week to date. showing signs of stabilization as well. the ftse looking to ek out a modest gain when we round out the week that was. the paris cac up .50%. losses still expected in spain and italy. really failing to recover from the down side momentum we saw earlier on in the week. here's how sectors are looking as well. of course, i flagged this for you. the stoxx 600 is the green on screen with the real estate leading up 2%. a quick check on asian markets ending a tough week on the positive note. the nikkei up 2.4% before falling into the red and edging up. it has recovered from the losses we saw on monday and set to finish the week significantly

lower by 3%. you can see eeking up modestly. pretty impressive turn around for the nikkei after the huge volatility this week. hang seng is 1.3% stronger. the seoul market up 1.42%. let's look at what happened in the united states as well driving the regional equity momentum through the european trading day was the positive session we saw in the united states as well. easing fears of a recession here. better than expected u.s. jobless claims data helping to send wall street higher. you see the dow was up 1.8%. the s&p 500 better by 2.3%. the nasdaq and magnificent seven stocks up 3%. positivity returning to the markets. markets paring back bets on fed cuts. current pricing suggest a 54% chance of a 50-basis point move in september.

that is also important to watch. what we have on the wall now is the markets week to date. you see the indices failing to recover from the losses through the course of the session this week. the dow, s&p 500 and nasdaq with a weekly loss with the dow down 3.7%. here is the check on the u.s. equity futures. when trading gets back under way in the united states, traders are looking to resume like this. you can see markets are pulled higher. nasdaq up 60. dow up 74. s&p 500 by 11. the market is on a rebound after the global selloff which was, in part, triggered by the yen carry trade. investors are still worried that more yen funded leverage trades could be unwound creating market uncertainty. silvia amaro has been across all of this and tracking all of the market reaction. silv, what can you tell snus.

>> what a time to be alive looking at equity markets. august is seen as a quiet month and period of relaxation with many taking on holiday. that is not the case so far this year when you think of the volatility hitting the equity markets. let's show you the nikkei 225 over the last 30 days . it is down by more than 50%. of course, it also saw its steepest losses since 1987 s sps on monday. when you think about the nasdaq, it has dropped nearly 10% as well over this period. so, where do we go from here? that is the big question for market players. three of them told cnbc this could be a moment to buy. it would be furtherdownward moves to go. let me show you the vix as well.

this is the wall street fear gauge t gauge. it is up 80% over the last 30 days. this is important that investors on edge. they are focused on two things. lower growth and how central banks will react. there are two things to keep a eye on which is earnings and economic data. earnings because expectations are very high and if companies were to be dispointing investors a at this stage, that could bring further volatility to the markets. on top of that, sensitivities to the economic market were clear yesterday. we saw u.s. stocks climbing after market data show jobless claims come in below forecast. at this stage, the coming weeks might be the opposite of a summer lull. >> thank you so much for joining us. silvia amaro with the latest on the markets.

police offi thank you. live now to jakob pederson. a week to forget for many global investors. do you think markets have turned a corner? >> i think definitely that we are at a much better place now than we were on monday. i think most investors and most traders would be happy to see the markets rights now and what has happened after the meltdown on monday. we're definitely in a an better place, but that is by no means the same as the nervousness has retracted from the market. i think we will see nervous trading for the coming weeks. >> so how are you trading this? can you add to risk in this environment? >> i'm not convinced that this is a time to add to risk. if we try to look at the big picture, stocks are up 25% since october of last year with very

limited earnings growth. so -- so, i'm not joining the guys saying this is a steep overreaction. i think the markets have run ahead of real economics in anticipation of growth and it is probably not getting to be as good as they hoped. so, to me, this is not entirely a cycle of adding risk. >> jacob, silvia said expectations are higher so there could be further volatility for global markets if we saw lowering growth prospects. what do you need to see in order to feel confident to get back into these trades? >> first of all, we need to see more evidence that the economies are moving forward and that we're not near a recession and that we have the no-landing scenario where the economies keep moving forward. that could be a tailwind for

earnings as well. i'm not sure that where we will end up. we will look for a soft landing and still see risks of earnings disappointments from companies across the globe in the coming quarters where quite steep acceleration in earnings is expected. >> one of the most fascinating things for me this week is the shifting expectation under the u.s. fed cuts at well. clearly not being driven by the market, but also, perhaps rate setters spooked by the data stateside as well. you have been talking about the prospects of recession in the united states. some analysts are suggesting those fears are a little overblown. when it comes to the next data point to watch, what is it and what will ultimately determine we have seen markets hitting the highs for the year? >> well, i think we're going to see all of the sentiment indicators from the u.s. as well as job reports, of course, giving us a good idea where is

this economy moving right now. i think we will also get a good idea that we still have earnings to come and pre-announcements with a month or so ahead and pre-announcements whether up or down from companies regarding their third quarter report will be a very important element in where these markets are going. >> so, if you are of the view it is perhaps too soon to get back in the equity trade, where is the safe place to be right now? do you want to be holding cash or safe havens? >> we will be looking at the modest defensive parts of the market. this is not a time to withdrawal all your money in the market. this is the question of moving into some of the more defensive areas like healthcare or utilities. things like that means we will

see. also looking at the quality stocks. the stocks with limited debt and good positions in their markets and also stocks that are in markets where there is inherent growth because i think we will be short growth when we look into the next quarters. >> okay. absolutely fascinating to watch. jacob, i have to unpack another corner of the market here that we haven't spoken about this week that i still think is really important. it is what is happening in the oil trade. we saw oil fall 2% on monday on headlines following the big market sell down, but geopolitical risk coming back into the market. i'm curious where you see oil tracking the next week and how closely are you watching this trade particularly given the news flow today that there is a renewed push for the cease-fire? >> there are so many different

elements in the oil trade and determining the oil price. indeed, we look a week forward, but longer term, it will definitely be decided by economic growth, not least in china as well. that looks kind of weak at the moment. but, of course, what is happening in the middle east will also be of great importance to the oil price. very difficult to predict and oil price moving steeply higher, of course, buputs pressure on central banks and their ability to control inflation. >> indeed. nevertheless, oil is still looking to close out the week on a positive note. perhaps a rare bright spot in the markets. jacob, before i let you go, what is the one thing to watch before the u.s. open and the course of the u.s. trading day? >> i think the overall sentiment. we had more good days than bad days since monday and that is a good thing. if we can keep that up, we will

be heading into the next week with a better sentiment than what we began this week on. >> all right. watch this space. jacob, thank you for joining us today. a appreciate the conversation. jacob pedersen. moving on, chinese consumer inflation rose to 5.5%. it was driven by a rise in pouring prices. producer prices deflated falling from 0.8% over a year earlier. let's look at the european mining stocks are firming up. glen core better by 2%. anglo american is 2.3% stronger. also, it is looking like this as well. this has been another interesting sector to watch. we'll try to bring you that as soon as we can. in the meantime, let's go to the

luxury stocks with the overall market momentum we are seeing right now. we are seeing that being reflected in the key luxury names as well. lvmh up 1% alongside hermes and also gaining 1.05%. broadly positive across the session within that sector. during this busy earnings season, we asked top ceos for their opinions on the world's second large of the economy, that is, of course, china. >> i see that and many other parts of the world outside china where immobility is hot. we will see new models and technology and the resurgence of hybrids which make it attractive for you and me. >> china as a consumer market where we have a lot of exposure to our warehouse network and serving this market there is still showing signs of weakness and not a very robust consumer

confidence there. >> the fundamentals in china are still a $20 trillion economy and grew nearly 5% in the half. v you have a middle class that will grow by 80 million households. hotel rooms is only one-seventh of that in the u.s. it is a very big market. it will become one of the largest travel markets in the world. up next on the program, donald trump says the president should have a say in the fed monetary policy arguing he has better instincts than the fed chairman.

shopify's point of sale system helps you sell at every stage of your business. with fast and secure payment. card readers you can rely on. and one place to manage it all. whatever the stage, businesses that grow grow with shopify.

subway is offering 20% off any sub, any size whooo! 20% off subs is fun to say 20% off subs are fun to eat you'll love 20% off subs the point is, any sub any size. 20% off at subway

welcome back. former president trump has agreed to stick to the original plan and debate democratic nominee kamala harris in september changing tact after demanding the event be hosted by fox news which is more popular on his base. on x, formerly twitter, harris looks forward to it now trump has committed.

now trump wants to do two more debates. one on fox and nbc news. trump weighing in on the rate debate saying the president should have a voice with the monetary policy decisions. speaking at mar-a-lago, trump says he has a better instinct even jay powell or people who work for the central bank. this comes as americans weigh in on the all america economic survey. steve liesman has more. >> reporter: the economic is survey finds former president trump ahead on the key issues, but harris two points ahead for the race for the white house. trump led 45% to 43% in the july survey. the august survey finds trump ahead 48% to 46% which is within the margin of error.

40 to 21, voters believe they are better off if trump wins. that number is driven by republicans who strongly believe it matters for their finances if trump wins. 42% of democrats say it doesn't matter along with 54% of independents. just 17% of republicans say it doesn't matter. trump also have double digit advantages on several issues. inflation and the cost of living are the top concern. they rank trump 53% to 41%. the overall economy issue is a break for trump 52% to 41%. the two are tied for the middle class. she leads on the abortion issue by 22 points. trump gets support on the crime and safety issue and immigration and border security issues. the two are about tied when it comes to social security.

if the economy is important, how is the ballot race so close? it may not all come down to the economy. harris has the one--point lead on who is best to deliver the positive change to the country overall. an important indicator of what they call a change election. 16% are unsure suggesting there is still ground to be gained by either side. the survey shows both sides have consolidated their bases, but neither has made inroads on the swing voters who will get them into the white house. steve liesman, cnbc business news. meanwhile, eli lilly surged 10% after hiking revenue outlook by $3 billion on the back of second quarter numbers that blew past ex-pecexpectations. earnings pressure came in at $3.92. the out performance was driven by the glp-1 treatments.

mounjaro and zepbound. >> we are not trying hard to promote this drug. we told sales reps to service customers, don't promote. what you are seeing is just consumer organic demand here as we shipped more product as we bring more supply online in the united states. >> we said in the second half of this year, we will produce for the u.s. market or globally 50% from last year. we are on that ramp for '25 as well. >> that strong demand is true for the lilly rival novo nordisk. we have silvia amaro joining me at the desk with more. >> it is a good moment to compare both stocks. we heard from both companies. there is a stark difference here between novo nordisk as well as eli lilly. the demand for weight-loss drug

is significant, supply is the difference between them at this stage. we saw lilly shares rising off the back of the results because they are delivering on supply. i want to share with you the comments who said if we see more supply easing from eli lilly, we could see a markets share shift from eli lilly products in the united states. some analysts are actually forecasting a 50/50 split between these two companies in terms of the market share in the united states. it is important to take a step back and also look at what other news we obtained in this space. recently, wegovy is less effective, i should say, than actually zepbound. let me share the numbers with you. patients that were on the highest dose of zepbound lost 21% of body weight over a period of 72 weeks. however, when you compare the

results for wegovy patients, they lost 15% of body weight over a period of 68 weeks. so the efficacy here is important because it could change the reputation of novo's drugs in the united states. just a final point to say when you look at the share price reaction recently, both eli lilly shares and novo nordisk have also been hit by news that roche had seen positive trials for the weight loss pill. that would also be a huge change here for the weight loss drug market. i want to share this kpcomment with you when i had the chance to speak to the novo nordisk ceo. why should long-term investors buy the stock at this stage? >> if you like obesity space, this is the place to come. we have focused on that. of course, we have a high concentration and very attractive market. we are building to play this.

i think it is a very good place to have exposure. >> so novo nordisk has had an incredible run and many analysts are still very bullish in this stock. ultimately, the question as this stage is if they can continue to deliver in the future and whether they can increase supply and, of course, as the competition intensifies, can they still play the huge role in the space. >> one of the questions you put to the ceo is where the next wave of growth going to come from. that's the big question that's around the big brand weight loss companies. do you have any insight on exactly the type of products or type of research they're doing into exactly what's going to drive that next wave of growth? >> so, they have several trials going on at this stage. one of them is how these drugs could actually put potentially an end to alzheimer's. how can people with alzheimer's not see that disease develop as much as it tends to do.

if they manage to do that, that would be significant and the next revolution in this space. the ceo said for the time being they don't have any results. the likelihood we will hear about this next year. let's see whether that's going to be the case. if they can deliver on that, that is huge. that is a huge if. >> silvia, thank you. you enjoy your weekend ahead. that is silvia amaro there. a strong set of results from eli lilly saying it is making headway against norovvo nordisk. you can head to cnbc pro for more. we will bring you all the latest and the week ahead. stay with us. we're back in two minutes.

hey, can you speak french? who, me? i know a few words. if you're struggling to speak a new language, you should try babbel, a learning platform designed by over 200 language experts. it's like having your own personal language coach. babbel offers live classes with expert teachers for real world conversation practice. it's totally flexible so you can learn at your own pace and with the right practice and coaching, start speaking a new language in as little as three weeks. go to babble.com to claim your limited time offer today.

dan murphy with you. let's get straight to the headlines. first, european stocks look to close the book on the chaotic week with all majors modestly in the green. japan's nikkei 225 moving higher as it struggles to gain ground from monday's historic selloff.

wall street looking to take a breather with futures looking flat on the back of the s&p 500's best day in two years after the better than expected jobless claims. chinese consumer prices are hotter in july leading to support to prop up spending. uk investment house hargreaves lansdown agrees to a 5.4 billion pound takeover offer led by cvc and the abu dhabi sovereign wealth fund. european equity markets looking to round out what has been an extraordinary week of trade on a more positive note. we continue to see signs of stabilization in the session after the positive lead from asia and wall street as well. right here, right now, ftse 100 is up 4.45. we are seeing gains on the paris

cac and the german dax. the smi and ftse 100 and ibex gaining grounds with the ibex up .9% here. let's get a check on the dollar and how it is moving with the impact across the region. 1.09. dollar-yen is the trade to watch. i think we flagged this for you in every show across the network this week. dollar-yen at 4.174. the carry trade, obviously, a really significant theme through the course of the week. sterling at 1.27. the swiss franc at 1.66. we cannot forget what we have seen this week. the ten-year gilt at 3.19as well. with the yield curve, the two-year at 3.03. a lot of movement in the space

as we saw expectations with the u.s. rates continuing to adjust. the pricing though looking better than expected as a result. we saw jobless claims starting to calm fears of a u.s. recession. that sent markets higher. now pairing back bets on the fed cuts with the current pricing in a 54% chance of a 50-basis point move in september. a live look at u.s. equity futures as we track into the resumption of the wall street trade. the nasdaq higher by 100 points. a sign of relief for investors here when trade gets back under way in the united states. the dow and s&p 500 also expected to see gains continue after the close out of the session. b back in the uk and hargreaves lansdown has agreed to a takeover by cvc capital partners and abu dhabi sovereign

wealth fund. this comes after the offer in may will hold 11 pounds 40 in cash. for more on where private investors are putting equity, let's bring in our guest, wendy. thank you for being on the show. we know private equity is perhaps a little more shielded from the market volatility this week. walk me through what you think this is all going to mean for investments in your space and within the sectors moving forward. does it change the narrative? >> right. having one of the benefits of us in the private capital world, we can look beyond the short-term volatility in the markets. fundamentally, what matters most is whether we are backing businesses that are high kqualiy and have a great growth plan to execute it on and market

tailwinds that will support that over time. so rather than looking at something on a week by week or day by day basis, we will constantly be looking several years out of what a company can do during the time that we own them, but also then for subsequent periods in the years that follow. >> you say it is a good time to be in private equity. what are the sectors showing the most opportunity for you right now and why? particularly when it comes to the private equity investments and private investments broadly. >> private equity market is mature and there are different funds that play in different spaces and have different areas. here at waterland, we focus on buy and build opportunities in the mid market and tend to look for those across investment themes that we have covered for the last 25 years which are

sustainability around the aging population, leisure and digitalization and outsourcing. for us, there remain plenty of opportunities to be able to partner with founders of businesses in those spaces and support them on the journey that allows them to go out and acquire a whole lot of other businesses in a fragmented market and create something which has a strong market presence both in the uk, but also internationally. >> i'll let you talk to the book as well to unpack what is in the portfolio and where you are seeing return generation with the companies you are investing in. walk me through the level right now and the returns you are seeing. >> i think waterland has had a strong successful track record over 25 years and we backed some amazing success stories during that time.

with all portfolios, you will have some that are superstars and some are a challenge. it is part of our job to navigate through the best opportunities for each company at each point in time. i'm feeling very positive about where the portfolio is at the moment. here in the uk, we have done three new deals in the last couple of months across a range of different sectors. legal services and data and engineering and market services space. we continue to see opportunities there and where there is a strong management team that a partnership approach that we can work side by side with and we're managing to do so really interesting deals and enjoy the partnership with the founders. >> when you look at the markets and macros right now, wendy, what would you say is the

biggest risk facing the private equity market right now? is there anything concerning or keeping you up at night? >> not particularly. i think there is a great pipeline or opportunities out there. as always, we would need to be better about making sure we are really backing the highest quality businesses and going to any deal eyes open about the risks and opportunities ahead. we get really excited about where we can find the great business and recognize that the value that we can bring by investing side by side with the founder team and taking that business to an even greater scale and level of performance. there's no shortage of opportunities there. it's a little bit about prioritizing time and energy and really making sure that we back those that are going to really

be successful over the next five or ten years. >> wendy, before i let you go, you are someone that follows the markets and macro. i want your take and the final word in the week we have just seen unfold across the global equity landscape. what's your take? do you think markets have toucturned a corner? >> i'm not tracking stock prices day-to-day because it is not relevant to me in this world. ultimately, there are a whole lot of macro risks out there that have been taken account of the markets over the last few years, to be honest. in the end, you are pricing in what the future looks like and where there is uncertainty to get the volatility. yeah, i think some of that

volatility may continue, but it is not something we worry about in private equity on a day-to-day basis because what we are adopting is a long-term perspective. >> wendy, we'll leave it there. thank you for the conversation. you enjoy your weekend. wendy mcmillan from waterland. up next on the show, are the olympic games boosting the french economy? i asked ceo of visa europe. i'll have that interview on the other side of the break. stay with us. what is cirkul? cirkul is the fuel you need to take flight. cirkul is your frosted treat with a sweet kick of confidence. cirkul is the energy that gets you to the next level. cirkul is what you hope for when life tosses lemons your way. cirkul is your gateway back home. so

what is cirkul? it's your water, your way. cirkul, available at walmart and drinkcirkul.com.

lyles will need a good leg here. can he deliver? here comes the pass! look at this kid! coming in tight on the line. team usa, what a run! it's gold for team usa. noah lyles with another gold medal.

in case there was any doubt, who was the breakout star of these world championships. welcome back. we are entering the home strait of the paris olympics with the closing ceremony set to start this sunday. the men's 200-meters provided with drama with botswana taking the champion. k noah lyles took third after

revealing after the race he tested positive for covid on tuesday morning. meanwhile, sydney mclaug mclaughlin-levrone taking gold as femke bol looking to take third. and in basketball, overcoming the serbia's 13--point lead where u.s. will face-off with france in the gold medal match. the french economy is seeing benefits from the olympics, especially small businesses in paris which saw a 26% rise in sales on the year during judgmjust the first weekend according to visa's spending. the company saw a significant increase in spending from the cardholders in the city, particularly in theaters and museums which jumped over 150%.

i caught up with the ceo of visa europe and asked her what the company is seeing on the ground so far. >> it is exciting to see because the olympics has been in the city, we're seeing many other small businesses around the city benefit, particularly, of course, restaurants and museums and theaters where we are seeing a big uplift indepfrom spend fr normal summer. what we are seeing in the other cities hosting different parts of the games more of an uplift because perhaps they are not the center of the tourist universe the way paris has been. >> the new data shows a 26% rise year on year in small business sales. walk me through what's driving that and ultimately how sustainable is it? >> so, we really think about how we support small businesses and really for the last couple of years, we have been working across the city and across france and europe and the world to help small businesses move

into the digital economy and take digital payments face-to-face and also remotely. part of our work with their games particularly was to digitalize 100,000 small businesses in the city so when tourists came from around the world, they could gain new customers now and in the future. we've seen that benefit roll through to say particularly with restaurants and shops. we're showcasing a number of those in the visa go app. wherever you go in paris, it will show which small businesses you might want to go to with a great offer. >> charlotte, do you have any insight of the lion's share of the international payments are coming from? >> the olympics is, according to our ticket data, the olympics is hosting from 197 countries. there are a few from france and the rest of europe, particularly the uk and germany, but we are also seeing many more tourists

come in from the u.s. that is an uplift from last year. also places like japan and brazil. we heard them in the stadiums really supporting their teams >> our special guest joining us now. michael payne is here. he is with the ioc. michael, welcome to the conversation. thank you for being here today. we appreciate it. i wanted to begin by getting a quick take from you on where we stand when it comes to paris 2024. how are these olympics performing and perceived? >> they are performing spec tack alr spectacularly. they will go down as one of the all-time games after two difficult olympics with re owe and rio and toekkyo. the way the city has been a back

drop has been a ratings catapult. >> you see the stark turn around in paris, but what has it meant for the sponsors? are we seeing a compelling roi here? >> i think definitely. i think the sponsors are able to run their hospitality programs and bring in clients from around the world. they are also driving and showcasing technology. these are the first games to embrace a.i. technology and partners like alibaba has been at the forefront of driving new thinking to help expand the experience in the broadcast and to cyber tracking and mark the athletes. if we look four years ahead, they are already testing to what extent a.i. will be supporting

and, in case, replacing judging. >> that is is fascinating to th about at this point. michael, to what point do you think the paris olympics will impact the host cities? will we see that innovation followed through moving forward? >> absolutely. these were the first games staged under what the ioc president thomas bach to implement where you fit the city and you didn't have to go on a massive construction program or build or create venues, many of them temporary. i think paris will be a major catalyst to getting cities around the world to say maybe we should relook at the idea of hosting the games. much in the same way that barcelona in '92 launched a whole new era in cities understanding of how to use the olympic games as a catalyst for

transformation and a vehicle to re-brand or enhance the brand of the country. >> indeed. of course, the olympics also has its critics. i know you have responded to this before. what do you say to those who suggest that this is incredibly wasteful and incredibly expensive and having the olympics in a different city every time it comes around doesn't pay dividends because of the cost it requires and the logistical challenges it brings forward. what do you say of that? >> first, let me say it is not simple to stage the world's large of the event and bring 210 countries together. what paris has embraced is if you are not going on a major capital construction program that is not required, then the games can pretty much wash their face and break even with the broadcasting and ticketing and revenue. if the city wants to embark on a capital program like the french

did here with the cleaning up of the river seine where they spent over $1 billion. the olympics is the catalyst to get done what they have been talking 50 years to do. i think the new model and there was a time where it was too expensive and too much construction going on and even if the ioc was saying please, don't build the building, make it temporary. the politicians wanted to build the venues. now there is a much better balance and much better business model that's fiscally intelligent and also addressing other important issues like the environment. >> indeed. you mentioned the business per ef perspective of this as well. what do you think the business of paris 2024 is going to be and you mentioned the break even. is that where you expect paris to land at break even point here? >> i think for the organization and operation of the games, yes.

there is certainly some costs from renovating, as we said, the seine and they only built one new venue. the capital costs is very low. let's be honest, you will not ammortize costs over 17 days. once you separate the actual operating cost of the games, which breaks even, and the capital costs which is a long-term country, you have a real appreciation for the finances. >> michael, we were talking about this earlier. the impact for marketers and sponsors. we were showing on our wall before some of the significant names that have been involved in paris 2024. it really reflects just how hungry some of the brands are to be involved in

event. what do you expect to see in this space? business is playing a significant and important role in the olympics now. >> they are playing a critical role in terms of their funding, which is not only to the games and organization, but also to the funding of the 200 teams around the world. the games have become a showcase for new innovation and new technology. because it's global and because you can guarantee that for one month every four years, everybody is connecting and tuning in. that gives marketeers a great platform to be able to develop their strategies, but it is changing and the whole marketing world is changing. we are seeing far more development on digital engagement and social engagement. how do you build community? you look at how passionate the

people are -- this is a vehicle in terms of connecting. the joke in france is they don't want the games to stop because when they stop, they have to go back to talking politics. for the marketeers creating something that people are passionate about is incredible powerful. there are not many ways you can do that. >> indeed. nice distraction from the politics and for us, a nice distraction from the markets and the week that was. michael, enjoy the closing ceremony. michael payne, growth rights director for the ioc. we have breaking news from the commerce ministry in china. crossing the wires is the findings in the ruling and chinese reaction saying it lacks factual and legal basis and violates wto rules in regards to the ev ruling. it goes on to say that china

resorted to the dispute mechanism of the wto for the temporary counter vailing measures for the evs on august 9th. we see the chinese reaction of the ev ruling. we will bring you the latest as it develops. let's give you another look at the trading markets. ftse 100 is up 1.65%. the cac 40 is up by almost 1%. we have seen these markets broadly gaining momentum over the last hour or so looking to close out the week on a positive note after heavy downside losses through the course of the week. week to date, as i mentioned, we have seen markets recovering some ground here. looking at the week that was for the stocks, you can see all of the european major indices in the green including the ftse mib which is reporting modest gains.

the paris cac up .9%. nikkei and japan in focus. nikkei 225 has been on a roller coaster as has the yen. nikkei 225 just managing to close on a positive note today. do dollar-yen trading at 1.4275. week to date in the united states, .73 on the dow. .51 for the s&p and .69 for the equities. enjoy your weekend ahead. i'm dan murphy here in london. "wex" is up next. do you have a life insurance policy you no longer need? now you can sell your policy - even a term policy - for an immediate cash payment. call coventry direct to learn more. we thought we had planned carefully for our

retirement. but we quickly realized we needed a way to supplement our income. our friend sold their policy to help pay their medical bills, and that got me thinking. maybe selling our policy could help with our retirement. i'm skeptical, so i did some research and called coventry direct. they explained life insurance is a valuable asset that can be sold. we learned we could sell all of our policy, or keep part of it with no future payments. who knew? we sold our policy. now we can relax and enjoy our retirement as we had planned. if you have $100,000 or more of life insurance, you may qualify to sell your policy. don't cancel or let your policy lapse without finding out what it's worth. visit coventrydirect.com to find out if your policy qualifies. or call the number on your screen. coventry direct, redefining insurance.

hey, can you speak french? who, me? i know a few words. if you're struggling to speak a new language, you should try babbel, a learning platform designed by over 200 language experts. it's like having your own personal language coach. babbel offers live classes with expert teachers for real world conversation practice. it's totally flexible so you can learn at your own pace and with the right practice and coaching, start speaking a new language in as little as three weeks. go to babble.com to claim your limited time offer today. dave's company just scored start speaking a new language in as little as three weeks. the comcast business 5-year price lock guarantee. high five! high five! -i'm in a call... it's 5 years of reliable, gig speed internet... five years of advanced security...

five years of a great rate that won't change. yep, dave's feeling it. but it's only for a limited time. five years? -five years? introducing the comcast business 5-year price lock guarantee. powering 5 years of savings. powering possibilities.

it is 5:00 a.m. here at cnbc global headquarters. i'm frank holland and here is your "five@5." roller coaster week. wall street coming off the best day in two years wiping out the losses. powell under pressure. this time from a familiar foe making a case for fed independence. and travel trouble signaling consumer spending slowdown. and paramount picturing looking for a play book. on