that's all for this edition of dateline. i'm natalie morales. thank you for watching. [theme music] [music ends] good morning and welcome to "street signs. i'm julianna tatelbaum, and today we are live from london and the mobile world congress in barcelona. these are your headlines chinese factory activity comes in hot as the country's reopening sees official pmi rising at its fastest pace in more than a decade sending the

miners way into the head 10-year bond yields the highest since 2011, raising 50 basis points. rur owe nets surge as the exchange group walks away from a proposed 5.5 billion euro deal pulling its fund from the platform after just one week the u.s. c.h.i.p.s. act. what it means for american allies and rivals while congress will be speaking to the qualcomm ceo cristiano seamon first on cnbc a very warm welcome to "street signs.

we're going to kick off the show with the pmis. we've got the final manufacturing pmi in at 48.5 which is bang in line with the estim estimate in terms of the detail, we're dipping from january when we clocked a 48.8, however, an index manufacturing output which feeds into the composite pmi, which is seen as a good gauge over the health of the economy came in above the 50 mark. so not all bad news. in terms of the detail, we did get a positive surprise earlier this morning from spain. the manufacturing pmi for that country came in at 50.7 versus 48.4 in january. in italy we also saw an improvement versus january, 52 versus 50.4. and in terms of the detail, the healing of supply chain strans

led to the costs we're facing. it came down from 56.3 in january. that's the lowest reading since september 2020 so input prices coming down in terms of the -- how much factories are paying for their inputs output prices, however, remained high now, in terms of the commentary from s&p global which puts together these indices, although manufacturing prices continue to rise sharply, albeit with the rate increase easing to a two-year low this in part has to do with lag effects feeding through. that lag effect seems to be front and center interestingly this comes after a very strong china pmi out overnight which we'll get to in a moment we're seeing a strong move higher this morning versus the greenback. in terms of european equity markets, we've got green across the board. we are seeing outperformance in the minors this morning on the

back of that strong china data overnight. cac 40, up 0.5 we're seeing very small gains in montclair. xetra dax up as well a rally taking place in europe this morning goldman sachs says it now expects the ecb to hike by 50 basis points in ma-on the back of tuesday's surprise rise in french and spanish inflation data now, in terms of bond yields, we've got yields higher across the board in europe. multi-year highs we're seeing being hit. the bund trading around 2.7% the french trading around 2.81% and the italian. a closer look at the euro, i mentioned the strong move already. here's a look at the range of dollar crosses you've gone sterling trading

eurotrading higher versus the dollar it seems to be somewhat a story of dollar weakness and somewhat a story of euro strength in terms of the day that we already had come through this morning on the pmi front, european manufacturing sectors posted mixed results for the month of february. italian manufacturing rebounded while french and german output declined to 47.4 and 46.3 respectively chinese factory activity grew at its fastest pace in over a decade manufacturing pmi jumping to 52.6 up from 50.1 in january it was the highest reading since april 2012, far exceeding expectations and accordingly you can see on your screens a very strong move in equity markets overnight.

the big move coming in hong kong where the hang sang rallied 4.2% looking at the tech names or tech sector in particular, you can see very strong gains for these tech names you've got 10 cent up 7.3% and also europe trading significantly higher we're seeing this have an impact on china china, a sensitive basket of stocks in the bunch and you've got 4% worth of gains. bhp, glencore, rio tinto also training very firmly, 3% higher. o so quite a bounce in those minors on the back of the data autos also, but not quite as strong as the minors atlanta up 3.4%. very pleased to say chris williamson joins us now who

knows plenty about these numbers. chris, i think, you know, usually we speak to you and talk a lot about what's happening in europe, but i want to kick off with what's happening in china because it feels like that has really set the stage for this rally we're seeing in markets this morning, a much better manufacturing print there. what is the story? >> well, the story's quite a plain one. china reopened, easing its covid restrictions earlier this year, and that's led to a big surge in activity and demand. we produced the survey, which rose very strongly it wasn't quite as strong, but nevertheless, a nice lift on the production itself. one of the consequences of that is an easing of supply delivery time so an improvement in supply delivery times some of for the first time since the pandemic

began, you've got the potential for global supply chains to be operating smoothly now with china adding to the general loosening of restrictions around the world. so these supply delivery times we're starting to see improve across the board with these surveys. that's great news for the global upton. >> to what extent is that supply chain easing feeding through to europe, and are you seeing those improvements that you're seeing in the china factory numbers turn up in the eurozone prints at this stage? >> we're seeing it come through. we saw it in january when you look at things like future expectations in the european surveys, they were lifting higher with companies saying great news about china, we're going to see some better growth coming through so we're seeing supply chains improve most notably in germany, a huge gain there.

acrossing the eurozone, we're seeing the highest since 2009. companies are able to produce more autos is the best example with semiconductors o other inputs as well that was a big driver. the eurozone was the first stabilization across the regionafter eight months of contraction. >> clearly those easing supply chain issues is helpful for germany, and yet the german manufacturing index or pmi for february fell to 46.3 from 47.3 in january what is the persistent problem and what has deteriorated month on month >> yeah, exactly and yet one of the consequences,

of course, with the improved supply outlook is that companies aren't needing to hold so many inputs, safety stocks torsion hedge against the future shortages. so you're not seeing as much purchasing of inputs by firms. and this is acting as a huge drag on production especially with intermediate goods, inputs provided to other firms some of this is still a very weak link we've got an inventory cycle coming through as the outlook isn't clearly as bright as a year ago, they say, as well as the reduced need for inventory building for shortages it's acting as a dump there. on the other hand, we do have stronger demand for some sectors. consumer goods seem to be doing very well. nevertheless, that's doing well. some investment goods, machinery

as well. that's why we're seeing some divergence within the eurozone germany, a big supplier of components, for example, and eastern europe, big supplier of components with the firms. they seem not to be doing as well as those companies that favor the consumer markets such as spain, such as italy. >> if we could turn to the inflation picture in germany, we got some fresh state-level cpi earlier this week. closely watched by the investment community because it feeds into the headline inflation picture, what are you seeing in terms of wage pressure in germany, and what is your overall sense of where inflation sits at the moment >> so wage pressures are sticky. this is the major source in europe now of rising price pressures. we've seen with these supply chain complaints easing and demand low for intermediate

goods restocking this big downward pressure on raw material prices, component prices so that's acting as a big disinflationary impact now and wage growth is taking over as the driver now there's more signs of this in services. we saw that with the flash pmis. we have to wait until this week to get the final numbers more in the service sector building price pressures but even in manufacturing here, we've got sticky output pricing inflation. if you look at the spread between input costs and selling prices, there's quite a big margin here, and a lot of that is explained by increasing wage prices you've got better availability of components, but worst availability of labor, which means that's why we're getting these elevated inflation readings so some scope there with a

surprise, of course, on thursday as they're encouraging firms to try the best they can to pass those on to customers. >> chris, thank you so much for joining us this morning and flushing out the numbers the u.s. government has announced new curbs on companies receiving funds through the c.h.i.p.s. act act. firms will be required to share profits and will expand chip manufacturing in china for ten years after being givingen funding. industry leaders from across the mobile technology sector have been meeting at barcelona this week and they've been joined by marty cooper who shared his thoughts on the modern smartphone. >> when i make a phone call, if i don't have an earpiece, i have to take this flat piece and put it against my curved head and hold my arm up in an awkward

position and this light phone gets heavier and heavier it's not optimuch for speech you in your generation, certainly the next generation will have the phone maybe embedded under the skin near their ear and they won't have to have a charging, which is a real pain as you know because your body is a perfect charger. karen and arjun join us now from barcelona with a special guest. >> julianna, thank you very much i think it's fair to say mobile phones and smartphones have picked up a lot. cristiano eamon joins us now. >> nice to see you. >> we're hearing a subtle change

in language that perhaps the u.s. government now is thinking about revoking licenses that enabled wowway to access ships that use survival intel. a couple of weeks ago we were talking about perhaps not issuing export licenses. what do you think are the ramifications? >> look. i think we're probably hearing the same rumors. we do have licenses to sell 4g chips to huawei. we have not yet seen any actions. now, as related to the c.h.i.p.s. act, the c.h.i.p.s. act, i think, continues to move in full force. i think the c.h.i.p.s. was a great thing. companies like tsic continue to build in arizona, we're going to be a 40% tenet off that fab and also samsung in texas. i think to build diversity is

great. yes, we recognize the geo politics thing, but so far chips for phones and cars have not been impacted and we continue to have a vibrant business in china. >> as we talk about your future as you build new chips, chase new technology, build more facilities, what does it mean if we do see existing licenses revoked? is there a financial hit that impacts investment >> look, there is going to be a financial hit, but the -- but maybe there's different ways to look at this i think our business is much more diversified as you know, we provide modems to apple today we provide 100% of the samsung galaxy series. we also service other companies. a new device has been announced here in the show we have been growing in the ought moe active last quarter, ought moat active was 58% year over year

we're a much more diversified company. if it happens that the license gets revoked, there will be an impact like i said, we have not yet seen any action. >> let's jump in on that diversification strategy first i want to pick up on your point about apple. they signaled its intentions on its own mode and technology. when do you expect that to happen >> recently back in our investor day, in021, we had said we'd expect not to be providing a modem to apple for the iphone launch in 2023. they decided to continue one more year, so two earnings calls ago we said we expect to have our modem in 2023, and we're making no plans for 2024 so my assumption is we're not providing them a modem in 2024, but it's their decision to make. >> do you think -- >> it's clearly independent of

providing the chip i think this is one of the most stable times for a licensing business, and it's independent whether we provide a chip or not. >> just on that diversification, you're pushing big into pcs, in service as well. that's a new area of growth for you. you've got this ongoing suit and opposition do you plan to settle there because a lot of the push into the pc market was very much predicated on you having access to that. >> we're the largest customer armed today. we're taking arms not only to the phone, to the internet, pcs. when you think about it, we are the partner of microsoft's bing to windows it's very unfortunate, but the reality is we have very broad rights to the arm ip, one of the early licensees. we feel pretty good about our

solution, and we're just moving forward with our plans, and all our customers are very excite what we're doing. >> here we've been talking about the smartphone market, high end devices holding up but further down the chain the impact is on the consumer. there's trading, going to secondhand phones. customers are not buying as many electronics. what do you make of the impact on the customer debting through this very tough economic cycle >> let's separate the conversation in two parts. first, the good news you'll probably have an opportunity to see it. the innovation, it is in full swing. it's in your form factors, foldable, flipphones you see, different use cases. there's a very good roadmap for innovation one of the things we're showing -- and maybe you can talk about that -- large language models of

ai into a phone, so i think we're going to see reasons for people to upgrade their phones just on the ai now, let's talk about the macro. phone is a very good proxy of activity how people feel about and dispose of income, whether to delay or not delay in buying a new phone. the phone is smaller than it was in 2022. we saw a contraction but there's really three factors. one factor is really the macroeconomic inflation, things got more expensive the second is inventory correction coming from a very hot 2022 when companies had built a lot of inventories as a result of the chip supply presence number three, the china markets with closed. i expect in the second half, two of those three things are going to get removed and you're left with the macro so maybe there's a potential for signs of improvement the phones are more price

sensitive. that would go up and down with activity. >> let's talk about the information about consumers paying for more information. you've had some demonstrations recently where you put some text into a phone and it's managed to create this huge visual of a fluffy cat cat videos have gone viral i think that's why you picked a cat for an example how soon could you embed chatgpt into the smartphone? >> one of the most exciting things in the past few months is the chatgpt and to have the very large language models. this is the milestone we've been waiting for to establish qualcomm as an ai company. the reality, when you think about those things, you want to do it in real time think about what microsoft is doing with search. you want to chat with the search results. for you to make all of that

happen, you can't run it all through the data center. you're going to have to bring the ai to the devices, and the ability to create that much processing power in a smartphone and doing that without compromising a better life is something only qualcomm can do it's the most popular demo people want to create those images, and it all runs on a smartphone you can put it in airplane mode and the smartphone will be able to run those. >> that's a lot of the chat here what comes next? many of the big ted players think it's all about the reality. that's the next big paradigm shift as computing you're in the chip industry. give us a bit more insight into that a lot of people are wondering what are you guys up to and when

are we going to see the first device come to market? >> there is this plan for virtual and digital spaces that's going to happen everywhere so we invested for more than a decade every single device -- there are about 60-plus devices of virtual reality, mixed reality, they're all using chips, and we have been working with our partners, of course, meta, samsung, and google in order to build those devices. i expect that the next computing platform is going to be glasses. i i can see a scenario you're going to have companion glasses to your phone and eventually you'll just have your glasses. you see people hold their phones like this and they're limited to the screen with glasses, if they start to look like that, you have a world of possibilities so it's going to happen. it's coming very soon.

and hopefully everyone will have a glasses companion to their phone. >> wearables let me ask you about the market as well. what jumps out is electric vehicles are still very expensive for customers. you've been working on chips you had two chips in the past. what role are you playing in bringing down the overall cost for the market. >> so automotive is the brightest spot of the the qualcomm diversification right now. we're working with every brand we in our ought moe active investor, we already have a pipeline of $30 billion. car company asks two questions are you electrical and are you digital. that's where we come in. we provide digital parts took some of the dna that we developed in the mobile industry you can buy a $1,000 phone, but

you can also buy a $50 phone and the ability to scale the technology up and down that's why we took it to automotive you can have a digital clock chip in. it's an incredible future of innovation in this industry and our goal is to make sure every car has a modern digital cockpit, it's connected to the cloud, and it's safe. >> should we ask about 6g? >> we should a lot of people are saying we've got to think about this technology others say it's too early to be talking about 6g where are you at this point? >> look, as the company that's been the first with every generation of wireless, has been the largest contributor into the standards, as you can expect,

we're very busy in 6g development right now. here's how we think about it we're going to go now to the next big upgrade of 5g it's called 5g advance one of the big announcements we have, we announced or very first 5g advance modem that's going to be a significant upgrade in performance in 5g, and that's going to be for the next five years and you should expect by the next decade, 2030, we'll make a transition to 6g. there's one thing that's differents because 5g has been designed not only for phones but the cars and internet and everything, it's being designed to last for more than a decade. so we're going to see a very big overlap between 5g and 6g, so much so that part of the 6g features will be in the 5g

advance. >> thank you very much. >> thank you. >> we appreciate the time. it's been a fun week. >> it's been great we've seen a lot of cool stuff and it's setting us up nicely for the rest of the year. >> we'll bring plenty of information back to the studio. >> i look forward to further conversations back here to the studio excellent coverage. coming up on "street signs," iuorio next pulls it all pfunds. we'll have the latest ne xt

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welcome back to "street signs," everybody. we've got fresh numbers coming through the uk for the uk the final figures come in at 49.3 which is a touch better than 49.2, but critically still in contraction territory slightly better than expected, but we're still below that crucial mark sterling is holding strong

you see broad-based dollar weakness now, in terms of single stocks, euronext pulls the plug on allfunds. they had opened talked with allfunds in a separate statement allfunds deemed the next offer to be inadequate as you see there, huge moves charlotte told me this was somewhat of a surprise for investors what can you tell us about why euronext decided to walk away. >> it's been a really quick turnaround in all of these events that bid for 5.5 euros was a 20% premium from the close before. it was a cash and share mix

offer. the euronext was very much part of the diversification strategy and something they've done they're focused on post trade, clearing house as well so they really want to become kind of an all-around capital market player. when i caught up with him when the company published their numbers. >> we are just in the beginning of the voyage of transforming euronext, and we explore it either to expand to join something more explorable

we want to grow more and to expand the assets where there's more real prospects and to take euronext to the next level as well for the next five or six years. >> this bid was a bit of a surprise because it's a different kind of business that they would have stepped into for euronext with revenues coming off, a different move there. now, some of the issues there, you have to have some groups -- they hold about half of this so the offer is much lower than the peak of the allfunds share a few months ago it's still a very profitable business there's a lot of potential for these shares eventually. euronext also being valued themselves around 8 billion euros. it was a big piece to chew

they say they couldn't see how euronext could offer this amount of cash without breaching its own. finally the question of potential counteroffer, a name that has been emerging is deutsche all this together while euronext is seeing the share reaction on their own shares with their sharing diving since the offer, so clearly -- >>exactly. fascinating that euronext has now shown its hand, that they'd be willing to go for a deal of this size. charlotte, thank you for breaking it down for us. another big move eric montclair, shares are surging 6% higher rising 25% the italian fashion group posted more than 2.5 billion with most

activity coming from europe, in particular, italy, germany, and france the company says it expects challenges in the year ahead. coming up on the program, rising inflation and energy costs hit high net worth individuals with global wealth fall 10g%. we'll discuss frank's latest health report up next. it's hard to run a business on your own. make it easier on yourself. with shopify, you can have everything you need to streamline your shipping, returns, and product storage, so you can focus on growing your business. because when we work together, the future is bright. it doesn't have to be lonely at the top. join the millions at finding success on their own terms. start your journey with a free trial today.

welcome back to "street signs," everything these are your headlines chinese pmi comes in hot, the fattest in a decade, sending minors into the green ahead of the stoxx 600. eurozone bond yields also move higher with the 10-year bond hitting the highest since 2011, raising expectations for a 50 basis points hike in may. euronext stocks surge as

allfunds drops, putting its takeover funds after just one week >> and as the u.s. c.h.i.p.s. act looms over this year's mobile world congress, cristiano amon would be limited. >> we continue to have a vibrant business in china. let's get a check on european equity markets which are moving higher this morning after a strong handover from asia you saw earlier that the hong kong market gained more than 4% overnight, boosted by a better than expected china official manufacturing print showing the reopening is going well, and in particular, supply chain issues are easing as people get back to

work and chinese consumer demand also looking strong. so we're seeing an overall boost of sentiment on the back of those figures. looking at health care stocks in particular, we got an earnings update. there's a look at how some of the defensive names are performing we clearly have a risk of day shaping up, investors putting more money into the cyclical sectors as opposed to more of the other names. i spoke with the ceo david endicott about what's happening in the sector. they posted a fourth quarter net loss of $4 million but expects to see sales growth in 2023. >> inflation is a big part of our challenging gross margin and continues to be, i think, going forward. we've seen all of them

accelerate and we've tried to do what we can. of course, we work a lot on throughputs and efficiencies we've had to go to priechls we've taken price increases particularly in our contact lenses which we're always thoughtful about, but at the same time we try to put the two pieces together, right a little bit on the cost side as much as we can on the productivity side. that's really how we're trying to manage the impact right now. >> when it comes to your outlook for 2023, you're looking at mid- to high-digit sales growth and continues market expansion as well as high earnings growth can you give us any more on lou you expect them to progress this year >> yes margins for us have been a big deal we're obviously trying -- we had a thesis we spun out, which is get our r & d flowing. we ooesh done a number of things really all around operating

leverage we get a little bit from gross margin, maybe over our planning cycle, it will be 20% of our market will come from the gross margin the main thing fors is getting revenue growing at mid single digits and holding our costs significantly below that if we do that right, you know, we're going to see kind of this mid teens earnings growth, and that's really what we're trying to drive at. >> uk homebuilders are trading to the downside. data from nationwide showed the first decline since the housing pandemic and the largest half on half since the global financial crisis you can see some of the key builders are trading lower on the back of that persimmon warning, nearly down 10% taylor wimpy down more than 3% the total wealth held by ultra-high worth individuals

fell by 10% in 2022 dropping by over $10 trillion. euro saw the biggest decline as russia's warn on ukraine. it's time to look beyond the crisis of 2023 liam bailey joins us great to have you with us. i had a chance to read before this segment clearly 2022 was a year for markets. how are individuals feeling now given the 2022 developments giving the new year? >> actually the survey we've done in this year's reper confers 69% of the chinese individuals are very positive about this year. this is a rebound from the second half of last year and i

think a lot of individuals are thinking there's opportunity out there, particularly around distressed assets. the real estate market has a lot of interest in terms of value pray and a lot of the different sectors we cover i think it's reset and opportunity people are looking for. >> where within the real estate market are ultra-high net worth are individuals seeing >> a lot of people are talking about the sectors like data centers, life sciences, et cetera in reality, our remodeling suggests that most investment will be going into living sectors. so it's built around investments, and also the office market actually despite the big shakeout we've had in the office market the past couple of years, this is a mass agreement there's a big play for wealthy individuals. >> i thought it was fascinating that london took the biggest share of cross border investment from private capital

can you give us any color as to where that's coming from this. >> the london market is a very diverse market, but actually in the past 12 months it's been a big european and u.s. story. the u.s. still dominated in terms of cross border transactions and london has been a very attractive market for them. >> that's very interesting one area that's notable is russia we know london had been an attractive center. clearly a lot of that has changed in the last 12 months since russia's invasion of ukraine and all the sanctions that have come into effect how has that changed the high end of the property market here in the uk? >> if you give out 10, 15 years, russia was a really big part of it china and the u.s. have taken that it's a very diverse story in terms of his buying. actually the market has been incredibly strong in the last 12

months so the ultra-prime luxury market, which is $25 billion-plus units, we saw our strongest numbers. again, down on the year before, but actually a very strong showing. it's that diversity of interest in london. >> super interesting that the middle east still continues to be a big source of funds into london given that we know the saudi leadership has tried to -- there's a lot of efforts underway to sort of rein in the wealth situation to broader individuals. but you're not seeing any slow down, saudis specifically into london. >> no. there's always been an affinity with the uk market and london in particular, and actually the demand is strengthening. london probably faces more competition in terms of the money, but really it's the

dominant market in where they're looking to invest globally. >> talk about the boom and dig digital nomad. we've talked about it in terms of younger people, gen z who want adventure and want to move around and live in different countries. seems to be a big trend on the high end of the spectrum where are we seeing this boom most prominently >> for a lot of people around the world, if your passport doesn't give you visa-free access to travel to other countries, the desire to buy another passport and obtain another visa is a really attraction active proposition. european schemes have been in big play some have come back this year. the portugal scheme, uk scheme have disappeared actually what we talk about in the report is really that growth in other markets, say turkey, malaysia, singapore, and dubai are increasing their flexibility in terms of trying to attract

wealth and talent. this is the big story, not only wealth, but the competition for talent at the global level is going to be propelling those schemes. >> i was going to ask, if you're seeing this big boom in turkey, for example, this mass" influx of money, what does it mean? what are the broader economic preli implications one of the side effects is it ended up displacing a lot of global residents and making housing unaffordable >> they're moving toward more of an entrepreneurial scheme. you can get access to these opportunities, but you need to be investing in the economy. it's more entrepreneur real. in reality, in terms of the impact on markets, it's more

around rental market if you've got more digital workers coming in, a huge impact in terms of rental demand and also flexible office space a lot of people don't want to be working in coffee shops on beaches. they actually want to be in offices. >> it's hard to imagine not wanting to work on the beach every day, but i suppose that happens. what about luxury collectibles, things like cars and watches how does that stand in terms of the portfolio. >> we always take a view of the broad view of that over the past 12 months luxury collectibles have risen on average by 16% the growth is really in the art market and classic cars, 25 to 29%. the really interesting driver, we saw a lot of money go into nfts and crypto last year. actually that reversal out of

crypto has boosted the tangible market the big sales pointed to a return of confidence and interest in terms of tangible assets >> fascinating we'll see if that continues or if nfts make a comeback. thank you, liam, for walking us through the report. coming up on the program, david solomon says he's learned from his mistakes. we'll play you that first on cnbc interview when we return from this break.

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welcome back we were told the lender hopes to outperform its peers in the next few years. she was speaking to charlotte after they posted a record year in profits >> there's one thing i'm really happy about and i think we've succeeded is really communicating that the group has va

value. so this is important they're helping spain, the uk, and brazil grow in beater way. this is something we've shown already in some of our businesses like the corporate bank, management, and payments, and the big focus is going to be how do we do this across our retail commercial footprint. how can we change it. >> i was going to ask you that there's this global footprint you have, but there's some analysts saying it's more of a disparate group than a diversification, and we've seen other banks step away from this, trying to refee was on their home markets so why today you feel like that was part of your plan this morning you are making the case for that global footprint of santander. >> the reason we're making case today is it's the right time

we've done a lot already, but there's a lot more we can do we've done it in the corporate bank that grew 33% last year you know, half of the corporate banks' revenues -- sorry, profits are derived from the local franchise and the combination with the global platforms some of what we're saying today is the next step in this transformation is on the individuals, on retail we're starting with u.s., mexico, and spain, but many countries have already done a lot of that work, and so you're going to see that in what is going to be an acceleration of growth and shareholder value creation again, the double digit per share is a number that is very ambi ambitious. >> goldman sachs says wealth management will be the new growth he acknowledged the company didn't execute well on parts of his consumer push but insisted

management would reflect and learn from the episode solomon explained where the bank went wrong. >> i think we tried to do too much too quickly and as a result our execution in some areas of this wasn't good and so what do you do? you correct that and so that's what businesses do there isn't a business that kind of goes through and doesn't have successes, but also some stumbles >> we had a big move lower in goldman shares on the back of that update. let's get a check on futures and see where wall street points to open we've got green across the board. positive sentiment continuing to ripple through markets after that better than expected manufacturing data out of china showing that the recovery is going pretty well. that's it for today's show i'm julianna tatelbaum thanks for watching "street signs. "worldwide exchange" is up next. it's hard to run a business on your own. with shopify, you have everything you need to setup your online store, to connect with customers, and to bring your dream business to life. because when we work

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it's 5:00 a.m. at cnbc headquarters and here's your top "five@5. why the trade could be doa for the rest of 2023. and activist salesforce, why an outgoing investor is targeting marc benioff. tesla is planning a revamp of one of its most popular models. plus what just happened in china for the first time in more than a decade sending stocks