together, we're building a better california. . welcome to "street signs." i'm willem marx. these are your headlines european stock markets rebound from a global selloff that saw the dow wipe out its year-to-date gains amid heightened trade tensions. the relief rally sweeps across asia with a laterally to close in positive territory. and opec, the iranian oil minister says there may be no agreement in vienna as he slams president trump for interfering in the crude market. >> important things, i would

like to declare that opec is independent organization, and is not american organization. ge gets booted from the dow after a century on the wall street index it gets replaced by walgreens which rallies after hours. good morning what a difference a day makes. look at the european markets this morning very different picture compared to 24 hours ago with the stoxx 600 up so far on the day looking at the major markets behind those numbers, across the continent there is a lot of green on the board the ftse 100 up more than 1% the cac is up 0.20

the ftse is up almost 0.90 autos are in the red basic resources bouncing back from yesterday up 1.5%. the banks looking to be in good condition this morning up 1% across the sectors in terms of those basic resources, let's look at some of the details. looking at hp billitobilliton, . anglo american up 12% bp and shell up 1% rosneft up a quarter of a percent.

talking about trade, president trump's trade adviser says china has more to lose than the u.s. he insists no one should be surprised by trump's decision to implement tariffs that are necessary to defend this country. the administration's trade hawk described it as bullish for corporate america. navorro said he had no knowledge of a reprieve for apple. the u.s./china trade dispute could damage the iphonemaker supply's chain arjun kharpal has been looking at this more carefully >> apple is the most exposed large u.s. tech company to this china/u.s. trade tension it gets about 20% of its revenues from china. it sold 41 million iphones in china last year. it is the fifth largest

smartphone player in the market. it managed to crack this chinese market, but with that comes risks. it runs some of the services there. the likes of the apps store. apple pay and apple music. china could clamp down on some of these services. another issue is they could cause disruption to the supply chain or perhaps say something along the line that iphones are a risk to national security, much like the u.s. government did with waway phones. i want to move on to some other large u.s. companies alphabet, the parent of google it has some investments in china. it made an investment into jd.com the other day they have no massive revenue out of china the search function has been blocked there since 2010. google maps are also blocked there the big issue for google is android, the mobile operating system which accounts for the

majority of smartphones in china. if there are issues around android, that could be a problem for google looking at facebook, they have been blocked in china for a long time netflix is not even present. amazon has little operations there, which keeps these companies fairly insulated that's why you didn't see the huge reaction there. moving over to some chinese companies we've seen the issues with zte they were close to crippled when rounds of sanctions came in. let's go to alibaba, they sell some of the u.s. brands on its site they also sell products into the u.s. any kind of tariffs on these products could make them more expensive and hurt the margins and huawei, they create smartphones but also the largest telecoms equipmentmaker in the world.

they get components from qualcomm and intel, so any tariffs could have impacts on huawei if you look at what's happening, it seems like the chinese tech companies are worse off than the u.s. companies back to you. >> thanks for that we're joined by luca paolini i have to ask you, trump announced 50 billion of products that will face tariffs from china. he talked about two other sets of 2$200 billion add that up, 450 billion chinese exports to the u.s. a year is not much more than that, 500 billion. are there any sectors, any equities you're looking at in the u.s. that would be safe from this action? >> i don't think so. the numbers are huge i think if everything that trump has announced would be implemented, we're talking about potentially an average tariff between 10% and 15%.

it's a huge number all sectors would be affected. some industries less than others, but all would be affected markets would suffer i don't think we're going into an all-out trade war, but that's the risk and it's difficult to say which sectors will be affected because everything will be affected. >> arjun joins us now around the desk if you look at the stocks that have seen action because of this, apple sticks out how likely is it that china could really hit them with retaliatory measures >> i think it's going to be a fine line here china has the power to clamp down on some of those services it's already a couple of years ago blocked services like ibooks, the online book service for apple. it could do a similar thing. i think it won't go too far in calling for a complete boycott of the iphone.

apple is indirectly a huge employer of people in china by foxconn, the company that essentially assembles the iphones in china about 1 million workers are working on that. so they have to be careful on the retaliatory measures it puts on apple because of that situation. i think you look at the chinese companies that are relying heavily at the moment on u.s. technology i think that's something now that china will look at and say how can we change this >> how does the chinese government try to protect companies not just like foxconn but other major giants >> what you've seen is a top-down approach. they released a paper or statement saying they want to be world leaders in artificial intelligence by 2030 they started to invest in 5g infrastructure these are three major battlegrounds that china will be fighting the u.s. on

you will see a lot of investment from those chinese firms backed by their government in trying to develop that technology to stand on their own two feet in the future >> luca, a broader question, as you talk about the tech companies in the u.s., they're a big part of the indices over there, do you think these companies are still overvalued >> i think so. i think some of the companies are overvalued, but we're not talking about the same valuation of the '90s. these companies are generating a lot of profits and in a sense they deserve to be trading at a higher value especially the chinese internet companies, they look more interesting to us. they have stronger growth and they are protected from competition. the real value is more in china than in the u.s. >> do you think currencies like the swiss franc will benefit from what we're seeing between u.s. and china

>> yes the swiss franc is relatively cheap. it's trading well below the others the swiss franc will start go up >> one other question about european investors we talked in the past about the difference in those two asset classes. do you still see europeans as undervalued? >> europe is undervalued but always has been. will we see a pick up in economic growth in europe? this has been the key issue in the last three to six months if we see improvement and global markets are okay, europe will do better than the u.s. >> please stay with us arjun, thanks for joining us this morning the leaders of france and germany agreed to create a eurozone budget. a move they describe as a new chapter for the bloc angela merkel and emanuel macron

met ahead of the eu summit the two said the budget would strengthen economic convergence within the eurozone. >> translator: regarding the eurozone budget and details, i'm pragmatic. what do we have today in the eurozone nothing. what will we have tomorrow a eurozone budget. that means as of 2021 we decide together to put money into the eurozone budget generated from national budgets and tax revenues the goal of the eurozone budget will be to support countries facing difficulties. >> just to bring you some updates here the ecb says risks for financial stability in europe are more political than economical. that ties in nicely to the conversation i want to have with luca do you think this kind of agreement we see from the french and germans will calm concerns

about growth in europe or is that nothing they can have influence over >> i think it will have no influence. it's another small step in the right direction. there's been an improvement in europe, we just need one big step i think it will have no impact on growth. in the long-term it will be positive but not a game changer. >> you talked about european stocks being long undervalued and presenting a buying opportunity. is that helped by a weaker euro? do you foresee that being something you would expect >> yeah. that's a big thing that's why euro has not done well because of this trend the euro weakness will actually help companies generate more profits and we are seeing a correlation between the euro and euro market. this is a positive for the euro in the next six months >> what about the comments from various ecb officials, including

mr. draghi over the last eight or nine days what's your takeaway from the language they used >> to me, it's clear they want to move forward, but they're worried but of what they've seen in the past. a lot of policy mistakes the ecb raised too early and because inflation is below target, they're not in a rush. they're in this situation when they would like to hide but they're worried about being data dependent. and there will be a first hike next year, but it will be a slow process under normalization. >> you heard those comments from mr. novotny saying the risk of financial stability in europe is more political than economical where are those risks? what do you see them to be >> if you look at the european economies, it's strong if you look at account surplus, for the first time since '99, all member states have a deficit below 3% there's been a lot of improvement in europe.

it's on a political front that there's a lot of flash points. even italy and brexit is part of the story. even the situation in germany is becoming more difficult. that has nothing to do with the economic policy but it's something that is affecting the general mood of investors. >> i think it's rite to sght toe political risk in europe is higher >> higher than they've been for some time? is this acute or par for the course >> i don't think political risk is much higher than in the past, but when you look at it compared to economic risk, i see more political risk than economic risk, but i don't think it will create a significant market disruption >> luca, thank you for joining us this morning. fresh news coming out of the chinese hand phone manufacturers, xiaomi, they are

giving a range of 18 to $22 per share for their hong kong ipo. they will offer 2.18 billion shares significant size for that ipo there. if you want to get in touch with us about european political risk, feel free to do s so, @streetsignscnbc. coming up, more geopolitical risk the iranian oil minister gears up for a clash with saudi arabia and russia as he tells cnbc there will be no deal on output. ♪ tired of wrestling with seemingly impossible cleaning tasks? using wipes in the kitchen, and sprays in the bathroom can be ineffective. try mr. clean magic eraser with durafoam. simply add water,

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. a clash between opec ministers is looking likely at this week's meeting after iran ruled out a broad agreement on output saudi arabia and russia are looking to boost production. moscow suggested an increase of 1.5 million barrels a day. that raise could make up for a

short fall in output from venezuela where an economic crisis caused a drop in production both wti and brent are up today. my colleague, steve sedgwick, is in vienna at that opec meeting seems like a contentious confab if we can use that phrase. >> they're always contentious for one reason or another, this time around it's fascinating a lot of people have been saying it's a political meeting this time around rather than just about market fundamentals. that's right we have not actually started the opec meeting proper yet. that's on friday non-opec meeting is on saturday. we have the opec seminar, so everyone who is anyone in the oil industry, from the big ceos to the iea to opec themselves are here in vienna as well

extraordinary gathering. there is contention. they have this stunning success with this strategy to take 1.5 million barrels off the table from opec, and barrels from other players. 1.8 in total it's worked. the price has gone up. now people are concerned about the exit strategy. they were always concerned about the exit strategy as well. add to that you have mr. trump tweeting away about what opec is and what opec isn't. you can see how there are so many nuances and subtleties to this whole story we spoke to one of the holdouts yesterday, bijan zangeneh, he represents iran. iran have many concerns. one is the fact they're maxed out in production unless they get more investment. two, that investment won't come if u.s. sanctions go forth and stop them expanding their oil industry huge issues for iran versus saudi, locally and geopolitically and against u.s. as well. i spoke to mr. zangeneh amidst a

hell of a scramble yesterday and first of all he answered the question, do you think there will be a deal and then he starts railing against mr. trump. let's listen in. >> i don't think because every decision in opec meets the -- i don't believe in this meeting we can reach that the important things i would like to declare that opec is an independent organization and it is not american organization president trump has created a difficulty for the market, oil market by imposing sanctions against the two important founding members of opec two important producers. now ask opec and expect opec to

change something for the better pricing in the market. that's not fair, i think, and opec is not part of the department of energy under the united states. and he went on and he went on basically accusing mr. trump of making oil a political weapon we put that up on the website. it's extraordinary comments considering a lot of other ministers i've been speaking to, including the uae oil minister keeping tight-lipped about intentions going forward and how they will put this oil back on the table. there are consumer here's as well who are concerned about the price. india, they take 83% of their oil from opec and they are concerned about paying a premium. they think they're paying too much they think they're paying an asian premium. i spoke to the oil and gas minister of india, mr. pra ddan,

about how this is causing issues for india. >> our per capita is low, in the future we are looking at this. this is the scenario we should get good terms why we should give a premium we are in front, and we are a price sensitive company. this kind of high price is pinching our economy we appreciate market balance, that should be there, but the price should be reasonable let' here is the world economic growth being dented by higher kducers

really look at these numbers about india. huge growth, huge country. the import bill is up 49% over one year to 1$115 billion it was $76 billion in maylast year as well fiscal deficit is ballooning out. debt is ballooning this is one of the growth areas on the planet. this is why i pmake my pitch fo saying how important the story of global growth is. the fact is that if they are paying that kind of extra bill and they have less money for other things and the fiscal deficit balloons out, what does that mean for markets and the global economy i will leave that question hanging there. >> thanks, steve he has a couple of interviews coming up sh, later today steve will sit down with rainer seele.

secretary of state mike pompeo and nikki haley criticized the lack of reforms and what they call a bias against israel the u.s. government faced intense criticism for a trump administration policy that spac spaces thousands of young children from parents at the border >> human rights abusers continue to serve on and be elected to the council. the world's most inhumane regimes continue to escape scrutiny the council continues to politicize and scapegoating of countries with positive human rights records in an attempt to distract from the abusers in their ranks. therefore as we said we would do a year ago, if we did not see

any progress, the united states is officially withdrawing from the u.n. human rights council. >> separately north korean leader kim jong-un met with chinese president xi jinping to discuss the next steps in his promised denuclearization of the korean peninsula north korean media reported that kim and xi discussed the meeting with u.s. donald trump last week at a time when tensions between china and the united states continue to rise over trade. volkswagen has suspended audi's chief executive after his arrest in a diesel emissions probe. they have appointed an interim replacement. volkswagen also confirmed they're in talks with ford on a possible commercial vehicle tie up. it's the end of an era for general electric the u.s. conglomerate lost its place on the dow jones industrial average after more than a century as a member of

that index the company was one of the original stocks on the dow when it first formed. walgreens will take ge's place general electric saw it's share price fall in after hours trade. walgreens jumped higher on the news. coming up, find out why mario draghi surging patience on future rate rises. we'll be live in sintra after this break

welcome to "street signs." i'm willem marx. these are your headlines european stock markets rebound from a global selloff that saw the dow wipe out its year-to-date gains amid heightened trade tensions. the relief rally sweeps across asia with chinese sessions closing in positive territory. on the offensive the iranian oi minister says there may be no agreement in vienna as he slams president trump for interfering in the crude market. >> important things, i would like to declare that opec is

independent organization, and is not american organization. ge gets booted from the dow after a century on the wall street index it gets replaced by walgreens which rallies after hours. it was a negative day across the u.s. markets yesterday let's look at how futures there are looking at this stage of the morning. looks like the dow jones being called up more than 100 points the nasdaq and s&p 500 also looking to open slightly higher. that was after a dramatic, dramatic fall in some shares we saw yesterday. in terms of european markets, giving an indication of how that may fair across the atlantic, all four indices in europe are up ftse 100 up more than 1%

the ftse mib up almost 0.9%. the cac 40 the lackggard there. in terms of sectors performing well, basic resources doing well banks again well into the green, up more than 1%. household goods around 1%. it's just the autos, the cars, they are down around a third of a percent as a sector across europe let's look at currencies as well you can see the pound is weaker once again against u.s. dollar by a fifth of a percent. the euro also weaker against the dollar the dollar looks stronger against the yen and the swiss franc seems to be a story about dollar strength looking ahead for the rest of this week. some of the world's top central bankers will take the stage in sintra later today.

jerome powell and the bank of japan governor will speak after mario draghi said the bank would take a patient approach to monetary policy tightening looking at the yields over the last few hours, you can see it, they are coming back significantly better compared to yesterday. seeing an idea that if you look at european bonds in particular, they are now less risky compared to yesterday the ecb's novotny said this morning that instability in europe is more political than economical my colleague, annette, is in sintra does this seem to be a hint at a rate hike the end of summer based on your conversations? >> not really. there's so many people on the governing council who have different opinions of what actually has been said the terms throughout summer is

provoking discussions. we have some saying that this means clearly at the end of summer, at least throughout the summer of next year, it's for them a clear definition that it's not before the end of summer others are saying it's like the window that it could happen during the summer. so we collected some voices in interviews on that topic for you, i would like you to taka listen now >> we are expecting, based on whatwe've seen in the data, that that guidance is as of what we expect now, the end of the summer 2019, that's the period before which we would -- we think the data will be strong enough to indicate any kind of change in interest rate policy >> to couch it in terms of a season or a window makes sense as long as the inflation developments are in line with

the forecast, then we express an expectation about some window somewhere in the future. that's the right decision to have at this moment. >> we are thinking interest rate also remain at the present level through the summer of next year, 2019 that's already, i think, a pretty clear message according to me. >> the big elephant in the room is that looming trade war, a deterioration of the economic outlook. mario draghi was saying in his opening remarks yesterday that clearly the bank stands ready also to increase the monetary stimulus incase there's an adverse shock. so i think the biggest takeaway from sintra's meeting for now, is that the ecb is insisting on that flexibility, and that the tightening cycle is super dependent on the economic data,

on the incoming economic data. of course the biggest threat currently is that the trade tensions will also eventually then filter through to less economic activity. but also other tensions like all that discussion around nafta, that's holding off investment. we have not seen lower economic growth yet, but it could happen. with that, back to you russia are on the verge of the last 16 after beating egypt last night a quick three goals was enough to see off the pharaohs who saw

mo salah come back after injury. extraordinary numbers. >> russia in their two games have scored more than spain in the entire tournament in 2010. it's the best performance by a home nation ever in a world cup from the first two games so, russia on the verge of the last 6, only miraculous results elsewhere can stop them. they picked up where they left off against saudi arabia though needed a comical own goal to set them on their way >> that's got to hurt. >> then cheryshev got off to a good start that's three for him and the huge dzyuba added a third. mohamed salah did add a consolation penalty back he was not fully fit clearly five weeks out will do that. egypt could still sneak through, but they look to be on their way

home >> just a statistical anomaly keeps them from saying we're on our way through. >> a huge goal swing the other way, and maybe miraculous results from saudi arabia can change things there. looks unlikely as for saudi arabia, they have to play uruguay today. they have had a bit of a rough time of it getting to rostov, on social media it circulated that on the airplane was a small fire in one of the engines. a bird flew into one of the engines, and video circulating around social media, flames coming out of the engine but the saudis played it down, saying it wasn't a big deal. the plane really didn't have anything to do with them american-owned, russian-owned. >> relief for everyone involved. another game that was an interesting result is japan and colombia >> this group, this completed the last team to get involved in the tournament, group "h."

it was incredibly open we always said it was going to be the first red card in the game led to this first penalty of the tournament colombia came back in the first half, a clever free kick going underneath the wall. japan won it in the end. four different continents represented in this group. japan beating colombia then later on senegal were 2-1 winners against poland a set of surprising results. yeah those two, those two who won yesterday nemeet in a couple da time they look to cement their place in the next round. >> ronaldo in action >> cristiano ronaldo stole the headlines when no one was talking about him leading into the tournament because of everything -- all the upheaval with spain yeah cristiano ronaldo scored a hat trick against spain. back in action today against

morocco at the luzhniki stadium. so ronaldo looking to pick up where he left off as he did in the last game. get on the score sheet again >> another big player, neymar out of action. >> yes absolutely for the time being they have a couple days to get him fit, but this will not please any brazilian and fan of neymar he was seen limping out of training an innocuous incident. just passing the ball between teammates, suddenly winced in pain and left the training ground he missed a lot of the season with paris saint-germain with a broken metatarsal. not coming in fully fit is a dangerous game to play the games come thick and fast in a world cup. >> thank you very much for that. if you have anything to say about the world cup, get in touch on twitte twitter, @streetsignscnbc and tweet me directly.

after this break, back to the sunny south of france where karen tso is hard at work needing the ed a v-- meeting the advertisers. her interview with steve king next these birds once affected by oil

are heading back home. thanks to dawn, rescue workers only trust dawn, because it's tough on grease yet gentle. i am home, i am home, i am home

welcome back to "street signs. president trump's trade adviser, pete navorro, says china has more to lose than the u.s. navarro says no one should be surprised by trump's decision to implement tariffs that are necessary to defend this country. navarro described the measures as bullish for corporate america. chinese state media attempted to instill confidence in the markets following yesterday's heavy selloff. shanghai security news said pessimism is only short-term adding conditions are favorable elsewhere.

biggest china exposed stocks that could come under pressure from the growing trade spat between washington and beijing >> these names will be the ones to focus on. over the course of the past six, nine months, a year, as trade talks have come to a head these are the stocks that have in real life shown us volatility around trade related headlines. not every s&p 500 company out there reports sales on a country by country basis the folks at msci looked at all the numbers, aggregated them together and these are big names you will all recognize you mentioned some industrials, starting off with those. those are the well known ones with heavy machinery aspects john deere, an 8% sales exposure caterpillar, 9%, then moving up the chain here boeing, the biggest laggard in the dow today, over 11% of its

revenues come from there 3m, 13% of sales come from china. ao smith, you may not know that name, but a hugemaker of water heaters, boilers, they get about a third of their business there. there are consumer names that you have to watch as well. for instance, nike, 12% of its sa sales profile. tiffany & co, 13%. tapest tapestry, 14 % starbucks, 15%, and apple, those particular profiles, iphones, ipads, about 20% of their business from the greater china region as we talk about the battlegrounds for these particular trade headlines, these are some stocks that could be the most volatile on the down side and on the upside if things get resolved back over to you >> dominic chu there. shares in ferragamo have fallen following reports that the share price of a stake sale

due to take place this week. they have been placed at $23.25. the sale will take place through an accelerated book building and there's a lot of buzz about artificial intelligence at the moment one company's leveraged that buzz to become the fastest growing tech start up in the united kingdom black swan uses ai to help companies predict how customers may behave they're at the cannes lions advertising festival this week as is karen tso in the sunshine. you have been talking about this topic. >> indeed. big data, technology, ad tech, all the buzzwords here this week want to talk about frozen quinoa frozen is the disney franchise and quinoa a health food that has been all the craze when you

think about food innovation. let's get how we can predict some of these behaviors. joining me now is steve king, ceo and co-founder of black swan data nice to see you. some of these big trends you have been looking at "frozen," a series, a movie first and now a follow-up. it's a huge franchise. anyone with a kid and anyone without a kid knows what "frozen" is. you are standing among a series of films and you could tell this would be a hit >> yes a lot of conversations happen on the internet rather than just one to one black swan listens to those conversations, and we use ai to detect trends. before a movie comes out we can tell how excited people are and how many people will watch it. >> it's quite interesting when you think about hollywood. so many movie executives thinking they can predict the next big thing but there's been flop after flop. you now, even though you're not

close to the content in the traditional sense, you think you can tell more about what will be a hitters haves a hollywood executive? >> that's a great question humans are brilliant predictors, but we do tend to get it wrong machines are more consistent they know more mathematically what is likely to happen >> taste buds. down to quinoa i must disclose i'm a fan of quinoa i love it. how could you tell that food innovation and food tastes were sort of fearing off in that direction? >> early trends start by enthusiasts in places. cookery websites, blogs that people are trying new foods. these early trends start in strange places on the internet and people get more enthusiastic we can measure the growth and forecast it out to see when it will be something quite big. >> you can see how enthusiastic marketers would be about this information. from the user side and from what we all followed recently, the

cambridge analytica scandal with facebook, how different are you from a cambridge analytica >> it was terrible, because cambridge analytica essentially stole data quite poor behavior. but black swan is just interested in trends we're not interested in individuals, more looking at where trends are going and what people are likely to do en masse rather than as a single person so you don't try to influence an individual person without their consent. >> how political can you get one message here is that it's okay to be very close to the consumer, very close with targeted marketing but if it's about politics, hands off. this is a no-go now for many people how close can you get on the political campaigns? >> president trump made it quite easily because of his use of twitter and the reactions of people to everything he says on twitter. so mathematically you can get incredibly close it's your choice on whether you want to or not, so we don't really get involved in politics.

>> what does gdpr mean to you. it feels as though you now need the consent of many users across europe does it hamper some research gathering? >> there's been a lot of work for black swan as a company, but it really helps. having guidelines means you can stay within them for public posts which is what we focus on, by posting you are sort of opting in. a lot of our work we don't need to search for gdpr because people have said -- >> not necessarily around took we have the ability to change options, adopt some level of privacy doesn't that stop the amount of information that you can take from a social media website? >> yeah, and it should people are putting things on facebook, we should not have anything to do with it but in a blog or twitter, where people are deliberately posting

publicly >> are you doing anything with in-store data, we now have a lot of connected devices when we go shopping you have augmented reality in stores, someone gauging your reaction to material you're seeing is that the next frontier? can you mine that data >> having the social information is useful. when it becomes great is when you can mix it with in-store data sales data we can accurately predict sales six months in the future the same with anything foot fall or anything. we can mix the data together and make long-term forecasts >> this conversation highlights the tug of war that's been taking place all week between the creators and the tech gurus of the industry. people feel as though you're taking over and you're driving a lot of decisions now, driving behaviors, the creative types would go back to the drawing board and craft something visually for a campaign are saying there's too much of you we're losing this.

because you know what people want and how to get in front of them, you need somebody to be drawing, being behind the scenes and being creative do you think that's valid? >> i agree with them totally it's a tool. it's designed to help people, not really to take over people the creators in black swan, we're able to give them data to help them make their creative decisions. he or she is responsible from the data we give them to make a creative experience. hopefully we're giving these dies more tools than replacing it >> there was some research out this week and a message to the industry that the trust that's been effectively taken away from social media after everything we've seen, and i still think there's more to come, the message was it's negative to be communicating like that. as a result social media has taken a knock.

what do you make of the trust equation given what you're doing? do you thinkthere will be a backlash at some point where people say i don't want you knowing this about us. >> i feel it's helpful a lot of us in the industry felt there were no guidelines or we were not advised either way. it put us under a spotlight and made sure we're asking questions. now we have guidelines and people worrying about these things, it means you can't put your foot in accidentally. it's harder, but at least we know now we're doing the right thing by validation rather than guesswork. >> can you predict the weather initial i go for a swim now? >> absolutely. >> steve king, thank you very much for joining us on "street signs. let me toss it back to you i have bigger priorities now >> thank you very much for bringing us that interview let's look quickly at the european markets we can see all four of the major indices are back in the green

after yesterday. seems like those fears over trade tensions are still lingering, but not too heavily weighing on those markets. the ftse 100 up more than 1% in italy, the minute falling slightly the cac 40 in paris is performing better than it was the last 30 minutes. up a third of a percent. in germany, the xetra dax holding steady basic resources had a tough day yesterday. looking at them now, the stocks for some of the major minors, they're performing well today. bhp up 1.8 rio tinto up 2%. anglo american up 2.6% these are all london-listed. you can also see across the oil commodity complex, oil prices are impacting the major stocks there as well. across europe, bp, shell, total and any of tthe italian produceg

well repsol, though, is down 0.25%. later this morning rainer seele will join steve sedgwick that interview coming up later today. let's look at the u.s. markets futures there, all three indices there are called higher. the dow jones looking to open up 94 points. that is it for today's show in london. i'm willem marx. "worldwide exchange" is coming up next.

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i'm seema mody, it's 5:00 a.m. at cnn global headquarters. general electric gets the boot after more than a century on the dow ge is being replaced by walgreens. starbuck shares getting rested aftres roasted after announcing lower guidance and a slew of store closures. and fresh comments from the ceos of jpmorgan and microsoft on the border controversy. and oil prices down ahead of the big opec meeting. and canada approving