welcome to "street signs." these are your headlines european equity markets follow wall street higher amid optimist over the progress of u.s./mexico talks as investors await the u.s. jobs report the bundesbank is joining a chorus of banks warning of global uncertainty a healthy boost to sanape shares as hudson is called as

the next ceo and ready to depart, number ten. theresa may prepares to step down with the race to replace her set to begin next week well, a very warm welcome to "street signs. trading up in the early hours of trade following wall street yesterday. another positive day for stocks there. yesterday the big focus, of course, here in europe was that ecb meeting. some really interesting trading around that. in the leadup to the ecb meeting, stocks were trading well but after the course of the afternoon, we did see them sell off. ending in negative territory

in particular european banks slumped by 1.42% and were down nearly 3% at the low yesterday so the ecb meeting not very straight forward they did push ahead. they extended their forward guidance it underwhelmed the market and we saw a jump in the euro. investors looking ahead to the nonfarm payrolls coming out in the u.s. market today. let's look at markets. the dax up about 0.5% despite news on the data front on the industrial production side as well as from the bundesbank. the ft rse up 0.68%. oil and gas had been a strong performer this morning at the top of the board right now up 1.3% right alongside the

oil price which has been gaining momentum we've got telecom and real estate overall a green picture. i want to get into the news from the bundesbank after a boom phase the german economy is currently experiencing a market cooldown they wrote this year of 0.6% versus an earlier estimation of 1.6% lowered the 2020 view to 1.5% from 1.8%. now, ecb president mario draghi referenced jitters and risk at the central bank meeting as they ruled out a hike until at least the first half of next year. and signalled it was ready to cut rates if needed. >> now we say that monitory policy is nonconventional. that we are far away from

normalization. we are far away from normalization. because the rest of the world and the rest of the challenges are far away from being normal and it's been like that now for many, many, many years falling first the great financial crisis then the sovereign debt crisis then the greek crisis. and now we have the threat of ri rising geopolitical dangers, threats that we see every day. we have developments in the eurozone then warrant this. >> now, i like to bring in andrew cunningham at capital economics. picking up on the bundesbank cuts from 1.6 all the way down to 0.6%. but the dax is rallying this morning. i mean, what do you make of the

news from the bundesbank >> they only publish every six months there's an interesting reflection of how much growth has slowed and perceptions have changed. it's not really news in terms of changing everybody else's view it's really in line with our forecast which is 1.5% i'd say they're still looking too optimistic for next year >> quite a big change in their 2019 to 2020 forecast. what they're expecting now, they're looking at 0.6% growth this year then 1.2% next year. is that realistic to expect that acceleration of that magnitude given where things are right now? >> yeah. as i said, i think that's over-optimistic. that would be based i assume on the assumption the trade war calms down and global trade picks up that might have been reasonable

a month or two ago, right now that looks optimistic. as draghi was saying yesterday, the news on the geopolitics has been pretty bad. so actually we don't think growth will pick up much at all next year. >> now, in terms of the impact of the global environment, it's obviously a major driver in the german economy the bundesbank today pinning down lackluster report, how much is directly related to the u.s./china trade war >> we think that only a fraction of the slowdown in world trade is directly because of the tariffs. after all, they only really affect bilateral trade between u.s. and china very small tariffs on aluminum and steel but clearly not having a big impact there seems to be a much more cyclical downturn which is the reverse of what we saw in 2017 and reflects probably a mix of

things in domestic economies there are domestic problems as well i think domestic demand is also weakening. >> and that domestic demand within the eurozone is part of what's filtering through and hitting germany. >> certainly je germany has been struggling. savings rates have gone up a little bit there also have been a whole seerss in the auto sector which has dragged on not just the emissions testing problem but frankly rather un-german chaos over regulating the diesel sector. >> now, we know that the auto industry on that point needs to invest heavily to prepare their fleets to meet these new emissio emissions standards. where is that investment going to come in and how is that going to effect the economy? we are seeing more and more

investment commitments from the automakers >> we will see in the sector but that's quite a slow process. and won't be reflected very quickly in the industrial production numbers i think what you really need to see is final demand picking up and people buying autos again. and that is not going to happen. and the overall economic backdrops. >> if we do see a pickup in china, one of the key drivers in demand outside-germany, is that enough to get germany back on track? >> i would say that would help china is a big market, but it's only a part of the picture the story's often over-simplified in the u.s./china trade war but actually china accounts for 7.5% of german exports you know, it's not the most important market and if you look at the exports to other regions, they've all

slowed rather continental countries are all down. >> how does this complicate things politically right now over the last couple weeks post parliamentary elections have been much more focused on the strength of the coalition. and it looks like it's in a much weaker position now than before the elections. what does it mean to be facing those kind of head winds >> well, the german economy has functioned reasonably well without a strong government quite often included the period the coalition. what's unfortunate now i think is they really do need a big fiscal boost and they also need some clarity on a number of regulatory areas. that's not going to comeas you have a weak coalition. potentially democrats pulling out. and the lack of clarity on who is going to replace angela merkel it's certainly not helpful >> in terms of the u.s. bounce

toward the auto sector, at the moment they've postponed tariffs on the auto sector how much more downside would that bring if they go ahead with these tariffs? >> well, the immediate sort of direct impact wouldn't be that big. we reckon that tariffs of 20% on all vehicle exports to the u.s. might take directly 0.1% off gdp for the eurozone but it would be very concentrated in germany. not good news to have another 0.3% off gdp and there would be effects on supply chains and confidence it would be a significant blow if it happens. the way the u.s. behaves towards mexico, totally unexpected and rather political driven tariffs means that risk is obviously still there for europe as well >> unexpected in part because of the timing, the fact they have got the china trade war going on alongside it

>> also the timing and the rationale. so you could for example have president trump wake up and say he's going to put tariffs on europe because of contributions to nato are not big enough i think that's another uncertainty which makes the situation a little bit worse >> thank you for your much for your thoughts. well, let's shift gears to the banking sector now credit agricole is now targeting annual profits of 5 billion euros up from 4.4 billion last year the return on tangible equity, a key measure of profitability, will fall amid, quote, consistent low interest rates. i'm bringing in cfo of credit agri rkscole who joins us from paris. thank you very much for joining me this morning, sir i want to start with your new profit targets for 2022. now, you have delivered on your

previous targets largely ahead of schedule. now your new target represented a jump yet again how are you going to bridge that gap all the way up to 5 billion? >> it's going to be a party of revenue growth, continued cost control, and a matter of development of our different businesses so i think that in the coming year, we have set prudent by aggressive targets 5 billion euros the net profit in 2022 which would present return of tangible equity above 11%. >> the return on tangible equity target, however, is lower than what we'd seen in the past is that satisfactory to investors, you think >> well, in terms of target, it's higher than what we had

published for the previous plan. in the previous term plan, we have now raised the target at 11% and above in this medium term plan. last year we managed to get return on equity in excess of 12.5%. but actually the 11% embeds an assumption of cost of risk significantly increased by 2022. which is again an assumption it's not the forecast. we do not see any matter or sign of deterioration of the credit worthiness of our counterparts we thought it was prudent and reasonable to deliver a target that was accessible even in the case of much higher cost of risk >> now, part of what's constr n constraining you right now, low interest rates as you've alluded. yesterday we heard from mario

dra gee that the ecb has extended that forward guidance rates are going to remain through where they are through 2020 do you think it would be helpful or how helpful would bit for the ecb to implement measures to help mitigate the impact of low rates on bank profitability? >> well, you know, we've been living with no interest rates in the last three or four years and we've been able to generate an improvement of our revenues and an improvement of our profits. even in this low rate environment. so what we understand is that it's going to last a little bit longer than what we had expected but to be frank, we hadn't foreseen a very rapid and sharp normalization. so this is not a game changer for us and i think we are able to generate these profitability targets i just mentioned even in the context of this decoration

yesterday. >> just sticking with mr. dra gee yesterday for a moment longer, do you think the new trtlo program can have a meaningful boost to gdp growth >> well, i think that this mechanism is more designed for banks having either an average credit rating or being active in some countries in europe but for a bank like credit agricole, which especially active in france, we think that it is not either a game changer. it was not the case in the previous one this one is a bit shorter, a bit more expensive so it's not going to modify significantly our refinancing conditions

nevertheless, we feel nowadays in france and in all the others of our markets a credit demand which continues to be dynamic. >> now, your ceo commented yesterday that m&a is not on the agenda and sees no need to grow by m&a. i don't want to ask that question to you again, but perhaps another angle. if we see some of your peers in consolidation, what would that mean for you >> well, as we have proved in the last bit of time, we are able to grow mostly organically. and we have been able to see some opportunities with activities or in asset management or in private banking. when they arised i would say opportunistic. so i think we will continue with

this direction and if some more major operations were to take place in europe, we would see that whether these operations were generating opportunities for us but clearly as said yesterday, we have absolutely no pressure in terms of strategy, because our strategy is working and is based on organic growth. >> all right well, thank you very much for weighing in and joining me this morning. cfo of credit agricole sanofi shares are higher after appointing paul hudson as its next ceo he will take the reins on september 1st. hudson is moving to the french drug maker from novartis where he has been been ceo of the pharmaceuticals business from 2016 onwards and shifting back to the banking space, deutsche bank's investment banking boss is among

70 current and former employees under scrutiny in relation to a tax stripping scheme according to multiple reports. german prosecutors have extended their investigation into the so-called transactions which allow two parties to claim with dividends on the same shares a deutsche bank statement confirmed the probe had been extended but referred only to, quote, further former and current employees and management board members. and in the geopolitical space, the u.s. and mexico showed signs of progress in border security talks ahead of trump's monday deadline to impose a 5% tariff on all mexican imports. negotiations are set to continue today after mexico proposed putting troops along their southern border. mike pence reaffirmed the monday deadline, but sounded an optimistic tone of the prospect of a deal. >> we're encouraged that,

frankly, the mexican delegation brought even more proposals today, but i'll be talking to the president later tonight over the course of this weekend about what's being propoesed. but the american people can be confident. while we continue to advance policies like the usmca, we'll drive forward policies for all the kinds of things to support a growing american economy this president has no higher priority than ending the crisis of illegal immigration that is flooding our southern border >> it is always nice to hear from viewers if you have any thoughts on the u.s./mexico trade discussions, how it pans down, the german economy, please get involved on twitter. coming up on the show, brexit means brexit and exit means exit as uk prime minister, theresa may faces her final day as leader we'll look at her time in

office >> following the referendum we face a time of great national change we are in the process of a negotiation onbrexit we will leave the european union in march 2019. the united kingdom can, indeed, have its own spoke agreement in terms of trade relationship. i've listened to every possible idea and every possible version of brexit. mr. speaker, this is the right brexit the british people have decided to leave the european union and the government will deliver that this house has rejected no deal. it has rejected no brexit. on wednesday it rejected all the variations of the deal on the table. i will resign as leader of the conservative and unionist party on friday the 7th of june.

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now. theresa may and her speech urged her successor to go for compromise is that a realistic approach if the next conservative leader wants to deliver brexit? >> reporter: well, after yesterday's results in which labour held that seat, that's the governing majority theresa may has held together over the last three years has a majority of just five that means if three members of either of those parties decide they don't like the attitude of the new conservative leader and prime minister, there's a chance ta person will not be able to form a majority. that really matters, of course investors looking at the new leader, they're going to be mostly concerned about brexit and 11 candidates saying they're prepared they're going through a hard brexit, no deal brexit. if that's the only way they can get out of the european union by that date. the process leading up to them,

got at least a few weeks potentially of balancing amongst conservative members then of course as of june 20th or so, we'll see postal ballots sent out to the more than 100,000 conservatives across the country. they will have their votes at that point if parliament is still sitting and mps haven't gone off, that new leader could face a new confident of vote to test the majority. if they fail, we could see general elections. that'll still a remote possibility. but even if they do get a majority by the end of july, all the mps go on holiday for six weeks. they come back september 5th at the moment and then just eight short weeks to try to get a deal through parliament and all the legislation that would go with it the challenge there, of course, is going to be trying to do that successfully we saw that defeat mrs. may, she came to power

because of brexit and she's leaving this building behind me because of brexit as well. >> willem, regardless of who ends up winning this contest you nicely laid out for us, if the eu stance doesn't change, what can a new face change? >> reporter: well, it's a good question you know, some of the candidates standing for the conservative party leadership and therefore the prime ministership have said they will try to renegotiate at least aspects of theresa may's withdrawal agreement of the agreement she made or her government made. boris johnson thinks he can renegotiate a deal between that deadline the commission have made clear the deal is the deal that's the deal on the table they will not consider any major negotiations so it will be very difficult for any new leader to try and gain leverage over the european commission ahead of that late october deadline >> all right thank you very much. a long road ahead in any case,

it sounds like on the election willem mentioned there, britain's labour party had a hotly contested election in the city of peterborough. just holding off from mike green. the poll is seen as an opportunity for nigel farage to gain the first seat in the uk parliament after a strong showing in last month's european elections. coming up on the show, china and russia sign $20 billion worth of deals as president xi continues his trip in st. petersburg details after the break. al: hi everyone! al roker here. as a guy with his own catchphrase, i appreciate that after 75 years smokey's only said... smokey bear: only you can prevent wildfires. al: but, i'm filling in because there's a lot more to report! like when there are parched or windy conditions out there, you gotta be extra careful with things like burning yard waste.

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welcome back to "street signs. these are your headlines european equity markets follow wall street higher amid optimism over the progress of u.s./mexico tratd talks as investors await the u.s. jobs report the bundesbank slashes german growth forecast joining a chorus of central banks including the ecb in warning of

global uncertainty ready to bepart number ten prime minister theresa may prepares to step down as leader of the conservative party with the race to replace her set to begin next week. $20 billion worth of business deals signed here in russia between russian and chinese companies. and president xi and putin putting on a united front for mr. trump. let's take a look at european markets we are now about 1.5 hours into trade of the final week. we are looking at green across the board. all four major indices in positive territory every sector in positive territory. this follows a fairly positive day on wall street

traded well up to the ecb meeting. then fell sharply afterwards the stock ended up finishing in negative territory european banks slumped down 1.4% even worse intraday. but now we are seeing a bit of a rebound as investors seem to be shrugging off some of the concerns that weighed down markets yesterday. let's take a look at the euro was a big mover yesterday on the back of the ecb update rising quite sharply now today it's giving back some of those gains yesterday it crossed the 113 threshold. now trading down about 1.1263. outside of the euro, the dollar index is on pace for its first week since the beginning of march. the second negative week in the last three overall the dollar has been weak versus a basket of those currencies let's take a look at u.s. futures. as i mentioned, europe is following wall street's strong lead yesterday

it looks like the s&p, dow, and nasdaq are going to continue higher this morning. it's that nonfarm payrolls report due out this afternoon that will affect things. the fed earlier this week signalled the llness to act. all eyes on the nonfarm payroll reports. let's get back over to russia i want to give you an update what we've seen come together over the last week china and russia have signed over $20 billion worth of deals in the energy and tech sectors as president xi jingping continues his visit to st. petersburg china is aiming to boost trade ties with russia to a new record level amid trade tensions with the u.s. now addressing the naming in the mueller report the findings show there was no wrong doing around the u.s. election. >> there were no shady deals and the mueller report clearly

states this. it talks about reconciliatory things after the election. it shows there was no collusion and shows that was not negative in what i've been doing. >> we are joined in st. petersburg with more now i believe you're joined by another voice who can give more color on what's happening in russia >> reporter: absolutely. i want to introduce you to vladimir yakunen he now runs a research institute, a think tank if you like called dialogue of the civilizations. but he was for a long time the man in charge of russian rows. sir, nice to see you >> it is your statement, you know >> reporter: can i ask you here we are again in st.

petersburg this time president xi and putin appear to have one of the closest relationships we've ever seen between leaders of these two countries. is this about more business between these two countries and improved relations or is this about reminding mr. trump that there are other places you can go for business if his trade deal doesn't work >> you know, i don't think that, you know, the two leaders were concentrated to give some message to mr. trump, but i can agree with you that is the message of the rest of the world. this is not only bilateral relations. they are developing. they are making strategic development, trustful development. bilateral it is obvious. but i suppose they are thinking more globally judging by report

on davos scene, for example. in davos and, you know, later development. they are trying, you know, to cope with the mounting problems of massive disarray in all international institutions started from wto and coming to united nations so they are trying, possibly, to introduce some new initial not just to mr. trump or anybody but for common considerations. >> there are some russians i've spoken to here at this event who are a little worried that if the chinese and the americaning sit down and sign a trade deal, that russia somehow becomes collateral damage. because it's thrown its hat in with china but once trade is back on track with america, they suddenly

forget about their friend in moscow do you think that's a risk >> i don't think it is a risk. you know, america was very supportive to china during the beginning of the era nothing changed. for china, american market is the biggest market so you know, signing agreement, not signing agreement, it is not to be that drastic what can be changed, the understanding that it is not possible in the new composition architecture of the global politics, geopolitics, you know, to just to sustain as the only ruler of the world to relations with asia, with china, with russia other areas is more than necessary. >> we're already ahead of the

next u.s. presidential elections getting politicians in the united states, raising concerns about what they see as russian interfering in u.s. elections. just this week, adam schiff said russia is likely to try to influence the 2020 u.s. election result how do you read that >> sure. we are mature guys you and me we are talking just personally do you believe that any country usie ining sophisticated i.t. cn just turn upside down the brains of regular america i don't trust it i don't believe it so, you know, likely possible this is not the term of political essence. this is the term to reward some kind artificial news to be published. i don't trust it >> we also saw mick mulvaney,

the chief of staff at the white house saying there is no doubt russia tried to influence the 2016 outcome it doesn't seem as though the mueller report has put to bed any of these questions >> listen. mueller report stated they didn't find any kind of even, you know, glimpses of actual russian involvement. to the point of normal diplomacy, of course every country would like to present the best of it russia is not excluded so from this point of view trying to, you know, persuade american electorate or american political elite, that we are ready to collaborate we are not away from this kind of procedures. can also be considered as possible intervention, right but actually, this is the new

normal communication between the societies of normal communications in the states >> you were added to the sanctions list by the canadians just a few months ago. you've been on the list for a long time with the americans and some other countries what did you do to upset the canadians that they finally got around to putting you on their list >> firstly, i don't know what i've done to upset americans in the first place to put me on the sanctions list because you know i was equated with the president in russia. to place me there because i was promoting the development of russian railway infrastructure, locomotive production. that i was on it by, you know, much more orders from the european countries than from my own country. it was not done because i was doing something wrong. but because i was promoting

actual collaboration in my area of responsibility. so you know, now that i am more than three years resigned to find my name in the sanction list of canadians, i'd also like to know for what >> you reason a think tank so can i ask you, let's come back to russia for a moment. this economy is stagnating the household income has only falling over the last ten years. people are getting frustrated, it seems to me, with the lack of growth in their wealth sanctions haven't helped, of course is there any new thinking in the government at the moment or elsewhere about how russian can grow more quickly? because surely at some point, this is going to have consequences for president putin's popularity >> always two sides of the coin. on one side you correctly named the problems, russian economy

and what we're facing now. on the other you can say that the industry is rising, agriculture is rising rapidly. so we became more stable we became more prepared for the challenges we are facing on the other hand, i suppose the most important thing i've heard from recently from the state authorities, they start to talk about the well being of the people not just percentage of gdps. but well being of their citizens and i suppose this is a good sign from this point of view, collaboration on continent, with china. collaboration with european countries can promote the development of russian economy and i always was very clear defining the term growth of

economy and development of economy. so we are for the development of the economy because it means development of the social sphere >> we've got to wrap it up, but thank you very much for stopping by here. vladimir yakunin here. back to you in the studio. >> thank you very much interesting to hear the russian perspective on a lot of those issue you were just discussing i want to bring you now some fresh data from the bank of england quarterly survey this is around inflation expectations and satisfaction with the boe and what it found is expectation for inflation in five years' time have jumped to their highest in more than a decade. that is according to the latest survey the average expectation in five years rose to 3.8% in may from 3.4% in february and the short run inflation for the next 12 months edged down

from 3.2%. more broadly speaking the survey showed that 49% of public expect interest rates to rise over the next 12 months that's versus 47% in february. so fairly sizable jump in inflation expectations and a little bit more of a muted jump in terms of rate expectations. now, looking at the u.s. session today, as i said, the big event, of course, that you'll all be watching, the nonfarm payrolls report. and that is the may u.s. nonfarm payrolls report with the market. the labor market is expected to show robust growth despite heightened trade tensions. the u.s. is expected to have added some 180,000 new hires last month forecast to remain stable at 3.6% with hourly earnings seen ticking slightly higher by 0.3%. however, strong jobs growth is not likely to dial back expectations of a fed rate cut so all eyes on that report later this afternoon i want to bring you another very

interesting data point that just came through that is with regards to the offshore chinese yuan. down about 0.5% on the day to 6.9616 there you can see the chart. the dollar versus the offshore yen. off about 0.4% but just to reiterate, that is the lowest that the offshore chinese yuan has been versus the dollar since november 2018 we're going to take a short break. stay with "street signs. we'll be back shortly.

welcome back to the program. china and russia have signed over $20 billion worth of deals in the energy and tech sectors as president xi jingping continues his visit to st. petersburg dp world has joined forces with two logistics developers in the arctic in a bid to increase shipping on the northern sea route. now, geoff cutmore is in st. petersburg i thought your question to your last guest mr. yakunin was

interesting in russia and china has been strengthening ties over the last month as the china and u.s. grow further and further apart. what happens to russia if u.s./china relations improve i'm interested to see what you've got to say. geoff? >> reporter: yeah. i think it's a fascinating story. i keep asking the questions, of course, because the people who will know the answers best are those business people who are at the epicenter of this current storm. that's why it was interesting talking to the chairman of dp world. they have just signed a deal here that gets them involved in the arctic business. that's an area of some international dispute, of cou e course, with many companies vying to be involved so let's have a listen to my conversation with the chairman of the company

>> the road is going to be passing because next to their shore. the russians have what's going to maintain it year round. so it is nine months but three months need to use ice. we are a company in business our investment in any place -- so these political issues for us are insignificant. because when you look at the risk, the dispute, whatever you name it. if i look at it and divide it on 50 years, it's insignificant it might be important, concerning in a certain period but if i'm looking at 50 years, that's insignificant >> reporter: the chinese in perhaps talking about escalating have said that they would look

at companies and how they respond to threats from america and whether that puts them off investing or working with chinese companies. this now has taken on a company level implication. is that something that concerns you? i understand the point you made about you're in it for the long-term, but there is a risk that some companies could come under political pressure >> technology companies. we never had that initial no matter what. we deal in legitimate now. if united nations decides on our relation that has adapted, we will always, you know, follow it but we haven't seen a road that is going to stick our investment anywhere else in the world

>> reporter: you are a great opportunity for me to find out what's really going on in the trade story and in the global growth story could you just walk us through the areas where you're seeing the most weakness and perhaps the most strength as we worry about the implications of the trade war? >> well, i tell you, no doubt nobody can deny it that the corridor between china and united states is disturbing the market we don't see the effect in business as growth but i think the biggest of this corridor is on the financial institution. on the business of saying they got your big -- as they did? the past that said, it's affecting people but as far as we're concerned,

we have a strong balance sheet we already have always up our sleeve enough money that we can invest when business with the banks become more expensive. so farce our plan for investment, we have no problem >> reporter: so interesting comments around the implications of the trade war and how a company like dp world which is in the logistics space is having to think more longer term and perhaps preparing to take some short-term pain. i also went on to talk about where there is some strength in the global economy as foreseen by the company they've been parking cash in india and doing logistics deals recently so i guess if you follow the money, maybe india looks like a positive story i put that question.

with similar size populations. which one is going to be growing in coming years. let's hear what he said. >> india they start opening up, business factor grow. now, india lags behind china let's face it. if you look at these two giants in population and economy, china is $1.2 billion-plus china economy and trade is 100 million containers a year. india is only ten. now, let's reflect the importance of india to us. we're the largest port operator with six locations we invested in logistics we invested in rail connection we are working with the india government on many steps to basically be able to move car go faster through india so india with the policies of

mo mody is way better than it used to be. we acquired land for industry. there is governance india. there is transparency. there is a move from the government to encourage investment we see the difference. and you see that india is already faster growth than china. but i tell you, india will be the largest in growth. >> reporter: let me just wrap it up from here just by saying in a couple of hours' time we're going to have the keynote session here with president xi and president putin on stage so we'll see if there's new breaking news around the trade story or deals here. >> thank you so much for those interviews really interesting comments. in particular about the impact

of the trade war on banks. now, i wanted to take a look at european markets and see where things stand it looks as though we are poised for a positive day with some momentum building. the stoxx 600 up now 0.77% the payrolls going to be a key catalyst today let's look at european markets see where the bulk are coming up french index really leading the index higher there 1.27% and let's look at u.s. futures we are in for a positive start to trade on wall street. well, that is it for today's show "worldwide exchange" is up next. you're here to buy a used car, truck, suv.

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it is 5:00 a.m. here at cnbc headquarters we are live in washington with more straight ahead. well, there's the beef the hottest ipo of the year sizzling in its first-ever earnings report. we'll have more on beyond meat's big beef we are hours away from the monthly jobs number. could this be the number that seals the deal for an interest rate cut big blue going pink. pink slips and job cuts coming to ibm and walmart upping the ante in the delivery wars. forget about the