it was a tragedy. that's all for this edition of "dateline." i'm andrea canning. thanks for watching. ♪ good morning and welcome to "street signs. i'm joumanna bercetche. >> and i'm julianna tatelbaum. these are your headlines concerns over the chinese economy seep into global equities with european stocks opening in the red while u.s. futures are also indicated lower. china's manufacturing sector falls further into contraction, hitting a five-month low while service activity grows at its

slowest pace in four months. the bill regarding the debt ceiling is heading to the house for a vote this evening with just five days to go before the deadline. and french inflation cools to a one-year low in may with energy and food prices declining while the finance minister bruno le maire says the government must cut its debt program. well, a very good morning to you. we've got a packed show this morning. let me kick off with frernsh da out of italy the figures are slightly better than expected. italy's economy rose 30% in the first quarter thanks to strong

demand marginally better than the preliminary estimate on the year end basis it was revised up to 1.9% compared to the 1.8% printout back in april. slightly better growth than expected out of italy. it's been a little bit stronger than the industrial powerhouse of germany of late we just wanted to give you that fresh data to kick things off, but let's get a check now on markets sunshine deed, julianna, it does tell you italy is showing powerful growth, indicating a technical recession. let's turn to markets. as you can see behind me, there is a lot of red on the heed markets. this time not because investors are focused on debt ceilings that by and large we're coming to tend of that particular incident but now we're looking very closely at what's been happening in china we've had industrial activity

come out overnight, weaker expectations, showing the lowest reading since december 2022. that's having a global effect on this strong pickup in the recovery into the second half of the year with china slowing down, of course, that's going to throw it into disarray, and we're seeing a notable impact on any sector that has exposure to china tore. so that's one story that we're looking at another, of course, is the macro data today we tried a bunch of cpi prints, surprising to the downside in europe we had french cpi data coming in lower than expectations. we've had german cpi expectations falling on the heels of a lower-than-expected rate yesterday, again having implications on the micro economy. it shows you the trend is very much in place. we're sitting at a two-month low. switching over to european forces, this is the picture.

ftse is down 0.4%. cac down 0.6%. luxury, as i mentioned china slowdown is going to affect that down half a percent as well. in terms of sectors, let me take you to the breakdown off of the top, we've got telco, marginally in the green. utilities as well. on the flip side, food and bev down 1.1%. chemicals down, no surprise there. let me take you over to fixed income as well we're seeing a notable rally we've rallied about 14 basis points, 1-4. you had that cpi print that came out lower than expectations.

we continue to see money pouring into fixed income. you can see the picture across the board as one of positivity. so that is a picture for fixed income of course, we're keeping a very close eye on all of the developments as well. >> joumanna, we've got news. first the ecb on the financial stability outlook specifically on the back of the french inflation reading that we got this morning, we've also got a couple of lines from the bank. he says quite likely we've gone past the peak. perseverance counts for more than speed regarding monetary policy, and we will bring inflation down 2% between now and 2025 so some fresh comment on the back of these inflation readings, which as joumanna

pointed out have generally opponented to a downward trend in inflation. it's not just europe in focus when it comes to data. china as well. their activities slowed faster than expected. tht space in four continues to shrink, the lowest reading in five months as factory activity struggles to keep up with the pace of the recovery on the services side. in contract, nonmanufacturing continues to stay comfortably above the linelated to

the chinese lowered before china scrapped zero covid. the weaker u.n. coupled with the economic situation isn't boding well for chinese equities either stocks continue to fall in the morning session as sectors digested the numbers, the blue chip index falling more than 1%. it's prompted some investment banks to trim their china contracts for the year. now, in addition to the china data, the agreement to raise the u.s. debt ceiling ha passed the first major test, accepting the proposal

lawmakers voted 7-6 on$7-6 on a6 trillion compromise agreement. the bill will now head to the house of representatives today where a vote is planned for 8:30 low toe time. getting toward the end of the saga, if i may call it that, we're very close to on on the dg but, of course, it's hung over markets. let's take a look how the markets ended for may. they ended down a thousand points, 3% lower for the month of course, as investors were gripped by concerns about what it would mean if the u.s. did actually breach that debt ceiling, the knock-on effects from a financial standpoint, that was one of the reasons there was so much risk embedded into the dow s&p up almost 1% the nasdaq, a huge outperformance there

that's because of one thing only, artificial intelligence. we saw a video for the last couple of sessions for the month. as for the asian marketsr t nikkei reaching a three-decadegk for the month. on the flip side we had the hang seng in deep losses down more than 8%. of course, knock-on effects for the weakness and data coming out of china today, no exception to that. the shanghai come pe saomposite, down as for european markets over here, the picture is very negative the biggest decline we saw was in the ftse 100, the uk down the dax down 0.4%. some of the resilience given

with the macro data we got out we saw the luxury transpire toward the end of the month as well and italy ending in weak territory, down 2% i'm happy to say the head of equity strategy from barclays joins us perhaps a good starting point would be to take a look back at the price action we had back in may. and one index in particular stood out to me. the foottse 100. i wonder how much of that is back on the commodities because it seems to be more of a heavy one. >> ftse is the only big index in the world which doesn't have any single tech stock. one of the reasons why it's done so bad is the lack of tech

so that was one thing. you have this, you know, issue about china back now people are worried about chinese growth, and we see an unwinding of this, which has been hurting commodities in particular. >> it's surprising to me that the dax managed to eke out relatively better performance than some of the other indices because germany is a lot more exposed to china what do you point to >> it's ahead in the dax in this month it was largely expanded by the tech, you know, composition or inference under the different indices. >> do you expect that dispersion to continue, that leadership, which has been extraordinary >> we issued a report this morning showing the tech is not

crowded. and at the start of the year, most investors have kind of an underweight tech because of higher interest rate and the long duration. so we did start the year with very low exposure to the sequitur, and now there's a fear of missing out you never had such a narrow market, but there might be a bit more of this chasing, pushing out the tech-heavy indices. >> so potentially some further grounds to cover let me come back to china. the data out of china has been fairly downbeat recently, softer than expected, last night being no exception with the factory data coming through. to what extent is it priced into the european markets or is there more downside risk to come >> i think the market was not buying the space you've seen mining, for example,

you know, doing value for most of the year. on the other hand, it's extremely wide it has now been hurt and we're seeing the unwind of this. what i'm seeing, no one seems to be keen on positioning for some kind of stimulus i find the market to be quite downbeat for a more progress policy in china. you know, in some respect, if you think about some of the stocks again, the commodity space, energy, minors, chemicals. they're quite depressed now. you see china will come with some type of policy support. no extreme policy. >> so be careful if you're thinking about shorting or getting out of some of those china-sensitive sectors. in one of your recent notes, you warn that the liquidity train is

a new worry. can you elaborate on this for us and what is concerning to you? >> what i see is going from 1% to 0% and being able to climb. you know, assuming the debt ceiling is being resolved, and looking at the latest headlines, we feel more confident about that you know, we talk about $1 million in the next six months there's a lot of liquidity the market they'll have to absorb. so, you know, they're hiking rates and liquidities being reduced in the system. but on top of that, markets may have to have some part of the market and have a way in which the market may try to help. >> it sounds to me at an index level, it's there, am i right? >> we are in a transition phase

where we don't see them taking much risk and everything that's happened here to some extent clearly they perform late in the cycle. growth is holding up in the u.s. the fed seems to be a bit more balanced so i think there's still potential for liquidity market to be higher this is one of the most hated things we've seen in history they have a lot of cash. i think the balance of this from a pure positioning standpoint, yes, you have tight liquidity, you have weaker roles. >> talking about a potential canary in the coal mine, we have spent a lot of time on the shows talking about commercial real estate and europe and also in the u.s. as well there are lots of companies, specifically germany, that have been coming under a lot of

pressure i speak to people on both sides of the spectrum, and they tell me one side says the evaluation repricing reflects the current situation perhaps is overshot. the other side of the equation, well, if anything, there's a lot more pain to come in that space, and what we're seeing with reits and real estate is just the beginning of a multi-year process that's going to unravel. what is your opinion on the reit space here >> the space has been very, very bad. i think that's what people are using to express this. i think you're going to see issues fairly wide then you see a broadening. clearly late in the sickle, we look at the hiking rate with growth slowing you would expect, you know, weaker things going forward. we expect the rate to go up, but

those things to bear in mind first we're seeing the private sector is in fairly good shape second point, the banks have been quite careful in the past few years as well. seeing stuff come down we're not seeing like we saw so, yes, you're going to see some weakness, but we don't expect a crisis from here. >> let me wrap up with it with a high-level stepping back question you talk about tech as there potentially being further to run in that rally and valuations look a little bit frothy given that the european market is underexposed to a lot of these tech companies that are going to power the future, are we bound to see continues underperformance of the european market versus the u.s. >> that's a possibility.

the question as well, how can global investors diversify that portfolio when they look at 65% of the global market so i think there's a look at it in the west. the market is doing very well in the u.s., but they are struggling because they can't have such a high portfolio should international liquidities evaluate the market. to see how it performs if the u.s. keeps doing what it's doing. it makes sense to have some away from the u.s. >> just to emphasize that point, one of the colleagues flagged that incredible statistic that the five companies that make up the trillion dollar club as of

yesterday make up that. >> absolutely. yo around the set. coming up on the show, there's good news and bad news ai optimism seiches the cap reach $1 trillion. but a warning, what's good for one might be mien extinction for everybody el we'll discuss next the same as yours.ne is t almost... just another word for not as good as mine. save 50% on the sleep number limited edition smart bed. plus, free home delivery when you add an adjustable base. only at sleep number.

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try the refreshed favorites at subway today. the subway series is taking your favorites to the next level. hold on, chuck! you can't beat the italian bmt. uh you can with double cheese and mvp vinaigrette. double cheese?!? yes and yes! man, you crazy. try the refreshed favorites at subway today. welcome back to "street signs. wage hikes have only trinted to a tenth of a percentage point. it comes amid a raft of

commentary including christine lagarde who suggested earlier this month that some firms are taking advantage of the art traj of supply and demand mismatches. and u.s. consumer confidence has fallen a number of consumers are describing the number of jobs as plentiful, falling to its lowest level since 2021. and fidelity has marked down its value in its stake in twitter saying the company is now worth $15 billion, a third of what elon musk has paid for it it's reduced the value of the social media platform three times since musk took over last year. speaking of, elon musk has visited the chinese country. musk said tesla opposes decoupling from china and will

continue expanding in the country, according to a foreign ministry statement. more than 350 ai industry leaders post a terse statement they called for a conversation on how the technology can be regulated after he himself was drawing fire if he leaves the eu. nvidia tishouches $1 trillin it needs to bleach 440 to hit it once again that might not happen at the open today the movie briefly put nvidia on the level with four firms, which now puts them at roughly a

quarter of the entire u.s. stockmarket worth more than the equity markets of japan, china, and the uk put together. extraordinary statistics we were just discussing with emanuel from barclays. i think many investors of all sizes are asking is it too late to chase the rally the even if you believe in the growth story, which many do. >> i think what's remarkable here is nvidia isn't a company the general public had heard of. i was doing a hit to one of our u.s. sister channels, and, you know, one of the comments that came back is we've never even heard of this company. how did it go from a relatively unknown chip processor to being one of the largest chip companies in the world is it's overstaken facebook, overtaken meta it does tell you that growth in this environment is coming from one thing only, and that's artificial intelligence. this is a company that's

integral to the rollout of all of these ai technologies that is where the money is going and that's why there is so much hype around it so we're now shifting from an environment where the companies, you have a visible -- there's tangible evidence of what they do in front of you being the biggest companies in the world to the companies that actually manufacture and what goes in. >> absolutely. that's what nvidia has done. i think it's deniable they're the dominant player, the leader in this space right now. what's not clear is whether they'll retain this dominant position as the other semiconductors race to compete cathie wood from ark invest who's one of the pioneer investors in the tech world, she sold out in january and tweeted earlier this week. i don't know if you saw the tweet. at 25 times the expected revenue this year, nvidia is priced ahead of the curve she's not keen on the stock.

>> she sold alphabet you've got hits and misses in this case, she missed out on the latest spike in the price. but the stock is still up 180% year to date incredible at the same time, the big catalyst for this is they were going to beat their own revenue guidance by 50%. many analysts say they haven't seen anything quite like it. being of that magnitude, it's simply unheard of, and that explains a lot of the performance. coming up on street signs, the bond yields tick lower as french inflation slows on the 'lbeig bk. wel rhtac

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welcome back to "street signs," everybody. i'm julianna tatelbaum. >> and i'm joumanna bercetche, and these are your headlines concerns over the chinese economy seep into global equities with european stocks opening in the red while u.s. futures are also indicated lower. china's manufacturing sector falls further into contraction hitting a five-month low while the service activity slows at its pace in four months.

>> the bill clears the first hurdle in committee clearing the house vote with five days to go before the deadline. and the ecb warns the financial stability outlook remains fragile as falling home prices pushing forward we will speak with luis d de guindos at 1300 cet european equity markets are down despite the debt ceiling front, that china data overnight potentially weighing on sentiment. it certainly dragged down asia stocks tie na's down low. the luxury sector a big part of

t it 30% lower for the xetra dax. we have green for the swiss market the smi is up about a quarter of a percent. as for currencies, yesterday we saw the dollar catch a strong bid -- this morning rather you've got it down 0.6%. also factoring into the trait potentially, softer than expected inflation data we've had in the last four hours out of spain sterling also trailing on the back foot to $123.57. here's the picture for wall street similar to what we're seeing in europe we've got all three of the major indices. it was a mixed day of trade after the memorial day trade, but the nasdaq outperformed. >> let's turn back and take a

look at some of the european macro data that's come out this morning. inflation has eased to the lowest level in a year, coming at 6% in may that's 40 basis points below expectations this as final gdp growth is confirmed at 0.2%. we're seeing a stark rally in european fixed income. all of these are trading seven to eight basis points because of the surprisingly lower than expected inflation data. charlie is with us after her travels to france. where's the downsize coming from >> to go back to the making of the numbers, it gives you an indication of how things are going. a lot of it was due to a boost in foreign trade and a normalization of the supply chain issues so this effect is expected to fade to a certain extent

looking at household consumption, it's lower. it can raise some questions, what can happen in q2. it's down 4% of course, food consumption down heavily because food inflation has been down. that's going down. that's the good news you can see what the dynamic's going to be going forward. you see growth bigger in q2 than q1 sticking to a forecast of 1% this year. again, looking at inflation, much lower than expected that's the good news in france, it's still higher than other countries a price cap of 4% last year that went to 15% this year. they had inflation lower it's at a slightly higher level. the level at 6%. the prices came out this morning. again here indicating it could go down further ahead and we

heard from the governor saying that it is quite likely we've passed the peak of inflation in france all of this news continuing, having an impact on the market again, the french prime minister speaking this morning, they have a critical program to help bring inflation down and also accelerate a debt cutting program because a lot of talk, of course, in france is about this at the end of this week, the s&p rate provocation remember just a couple of weeks ago, you had a downgrading so they're a bit worried again, remembering we come from a bit of turmoil in q1 you had protests and a pension, et cetera, et cetera all is good. the french government is worried at 111% of gdp we'll be watching that on friday. >> charlotte, thank you for breaking that down and for the

analysis it's not the only inflation data this morning cpi fell on the german state on a monthly basis, inflation declined by 0.2% that's according to the statistics office. price pressures were flat elsewhere. goldman sachs has raised its forecast to 5.25% in september previous prediction saw the central bank's interest rate topping out at 5% in august. we're joined to dissect the latest european economic data. it's wonderful to have you with us let's kick off with the inflation we've had in the last 24 hours spain surprising to the downside france surprising to the downside and now the soft print off of the german regional metric how much ammunition does this give the doves at the ecb?

>> thank you for having me interesting question i think the big picture is the following. we have it muted while the supporting factor is declined in headline inflation, but it looks like we get a little more headline inflation than the consensus, which should be better for consumption that's sort of constructive for the outlook. at the same time inflation is -- as you know, it's about headline and core so core inflation from what we see, i mean, this is not yet fully reported, but i think there is an element that it's probably confirming that the peak has been in march, which has been a working hypothesis

and that could potentially be confirmed assing is we can count on then they can call it a day with the last hike in july. strength in general, think it's good we have something in terms of inflation and that should sort of help the discussion in the council to find good grounds. > >> it ice interesting you talk about the ecb. they have their own financial report out warning of a potential housing price fall as the impact of higher rates makes its way through markets and

suppresses household's ability and suppress their appetite for those homes. how do you expect those further hikes to be absorbed >> well, first of all, in some sense, this is just confirming what's already there in the curve. the ecb pricing is already there, around 375. i think your commentary before said we had essentially seen a decline in long rates, which i would argue is the most important part for house purchases or house purchase decision, as we say. of course, we have to say we're coming out of long periods of low rates which have artificial rates. part of it is actually healthy and i think the policy makers need to be watchful and have an eye on whether there's something that goes beyond that healthy correction again, as the ecb has been

stressing, one side of it is control of inflation, and the other thing is financial stability. two different sets or tool kits that will be deployed for each the monitoring, of course, is an important part of it of course, they have to make visible these risks, but i don't think that will change anything in the rate trajectory baz as i said, it's already in the prices anyway. >> jens, can i ask in the second half of the year where the main growth driver is going to come from because we look at the pmi manufacturing data it's still very weak sub 50 we're seeing signs that some are beginning to peak. confidence levels are beginning to dip as well add to that the fact that the data coming out of china that is not helpful as well. what's going to be the main driver for growth if any into the second half of the year? >> first of all, we have to see that growth outlook that we and

consensus has for the area this year it's not super stellar. essentially it's still an extension of the downturn we've been experience as part of the energy crisis. we didn't get the -- basically the writing on the wall at the end of last year, but we have the latest release in germany, and, of course, we did get the factors that everybody attributed would lead to it, the bigdown turn in consumption. progressively it gets better because we have rate agreements that are to the tune of 4% to 5% and at some point that will deliver you real income growth you know, we think not yet in 2023, but if you sort of dissect this by quarter, you get in the last two quarters positive dynamics here. of course, '24 perspective on income is much better. as i said before, every downward surprise to headlines or more

than what was expected margin rally improves that outlook. we're getting better toward the second half of this year the other element that's very important to note is from a fiscal stance to some extent -- i mean it's something that ecb often complains about is very substantial. projections are around gdp that will be physical outlay this year if you sort of look at that from the expanding position and adjust that, you get a very expansionary stance that's more expansionary last year than the year before, but it's still more expansionary than when governments mobilized all the support in the global financial crisis. >> jens, i wants to brick up the fiscal crisis.

there's a spending review. i wonder in years ahead whether they're going to have a fiscal leeway should there be another economic crisis. what do you think that means for the ecb's interest rate policy are we going to be an environment where the ecb will have to start cutting interest rates, say, the beginning of next year? >> first of all, we do see the ecb cutting its interest rates next year, so we are a little bit there less optimistic in the market that has cuts, if i remember correctly, from february so there is this element in it, and that's simply a reflection of having the inflation brought under control which on all projections is a likely outcome. at some point then you can also cut back to neutral. you don't cut all the way back to zero. you know, you're talking about a normalization of interest rates back from restring active territory which they are now to, say, around 2%, 2.5% whi, whichs

good that's the first part. the second one, i agree. the fiscal outlook is probably the weak part here, so we have it pre-covid, and then covid and then post-covid. it has reduced the gdp ratios again almost everywhere. at the very least you should not be spending as much as you do right now. to answer your question, another big shock for sure is not great. i mean the system is certainly less prepared to spend for another big shock than pre-covid or pre-energy crisis. >> jens, thank you so much.

coming up on "street signs," we'll speak with the former uk ambassador to russia, sir tony brenton. has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even a term policy! find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com.

welcome back to "street signs. kevin mccarthy is confident a bill for the debt ceiling crisis be passed by this evening. representative dan bishop has called for a vote to remove the speak over the compromise, but mccarthy said he's not worried about his job. joumanna, it looks as though at the moment the rank-and-file members of both houses, the senate and the house are going to fall in line. it's really about the hard liners on both sides which seem to have issue, the hard-line republicans and the really left wing democrats who have complained about these proposed budget cuts. >> yeah, and also there isn't -- let me say there has been a precedence of a shock and no votes going through. we had that with the t.a.r.p.

bailout package back in 2008 for anyone who was in the market then, it was really a shock the house didn't vote it through on the second vote they did. unlikely in this circumstance that this actually doesn't get passed by congress, but, again, as you say, hardliners on both sides. i think, julianna, at the crux of this, both sides are trying to push it as a win. what the republicans were pushing for was a cut in spending what they got was a reduction in spending to less than the rate of inflation it's not less spending it's just lower real spending relative to the level of inflation. so it's all about how they spin this and what the political pushback is going to be ultimately but at least we do have an agreement, and that is definitely good news for the market. now, russia has accused washington of encouraging kyiv to attack after buildings in monscow were hit on tuesday ukraine has denied any

involvement. > . >> there is a kind of deal between putin and a russia deal. that's a deal that's putin-like. the deal looks like this people give to putin all the power, and he should give them safety that is the only thing he's not making them wealthy it's not about their well being because russia, you need to understand, part of russia still lives without toilets, centralized toilets, they still don't have it. they live like in the 19th century mark of them, and that's okay for them. but it's not okay for them to know that they are weak, they're so weak that their capital can be attacked. sir tony brenton, former uk

amba ambassador, joins us good morning, sir. let's start with the latest developments out of ukraine. they've lost territory in bakhmut. how big is that? >> it's not militarily very important, but it is the single -- the one move on the front lines which has taken place in the last few months. sought's significant in that sense. >> a couple of days ago we've been hearing of more and more drone attacks on both sides to kyiv and into moscow as well for the first time it tells you that the war is beginning to wage outside of ukrainian borders. does this mark to your view a point of escalation in terms of where we are with this war >> it is quite interesting because this as you say an estimation i heard the comments of the

ukrainian commentator earlier. i just wonder. it's quite striking the same commentators talking about it have simply strengthened civilian morale and anger. i expect the attacks are likely the same they will strengthen russian popular opinion, which is very supportive of putin and will certainly further strengthen that position. >> in terms of the drone attacks inside russia, obviously moscow has accused kyiv of being behind the attacks, and the white house has come out saying we do not support attacks inside russia, that's it, period. if drone attacks continue into russia, even if we don't have confirmation as to where they're coming from, what are the implications for the u.s. and its involvement of the war does it sort of put them in a corner >> yeah. i mean, the u.s. -- actually the

ukrainian government, took doesn't have the action of the ukrainian armed forces entirely under control. i imagine what's going on at kyiv at the moment is zelenskyy is saying amidst the attacks, kindly calm down, because you've threatened our relations with the u.s. these will likely go on because actually the ukrainian intelligence agents have been effective in what they've done to russia. they'll be saying, we're doing our best, but actually we can't control these things >> what does an escalation look like at this point from the russian side >> the russians certainly don't want to get into a war with the united states nato they are waiting the big moment that's coming up, everybody says, is an upcoming big ukrainian counteroffensive and that kind of hunkered down waiting for that counteroffensive to come with that further retention of

rebuffing it, if they can, the real turning point may well be that counteroffensive and how well it succeeds maybe it will retreat to new territory and look to move to another settlement if they block itting then they're at a complete stalemate and at that point both sides will begin to talk. >> overnight the russian security council chair marn medvedev, former prime minister, said that britain was russia's primary enemy and any attack could be considered legitimate military targets this really sounds like inflammatory comment i wonder wearing your diplomatic hat how you would interpret them, read them.

>> medvedev was quite a calm sensitive guy when i knew him. he seems to have gone completely off the wall since all of this we've been tough on the western side and you would expect this sort of rhetoric i don't think that medvedev actually speaks for the russian government should we get into serious discussions. >> are there any signs that popular support for the war in russia is waning >> no, no. if things go catastrophically wrong on the battlefield, they could weaken and they could turn against pew tichblt for the moment they're all hunkered down i don't know how confident they are. if they were offered a deal tomorrow, the rugs would probably accept it but for the moment they're hunkered down and are pretty

confident they can get into the stalemate situation which can lead to talks. you need to know when it's under external pressure, its people tent to rally around its precedent. that's what happened in 1941 when hitler attacked, and that's what happened in 1812 when napoleon attacked. the tougher they get, not too tough, the more they'll fall. >> thank you so much. we'll leave you with a quick look at u.s. futures yid was a mixed day. we did have an outperformance in the nasdaq right now all three of the majors are pointing to a better start. that will do it for "street signs. i'm julianna tatelbaum. >> and i'm joumanna bercetche.

ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even a term policy! find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com. we moved out of the city so our little sophie could appreciate nature. but then he got us t-mobile home internet. i was just trying to improve our signal, so some of the trees had to go. i might've taken it a step too far. (chainsaw revs) (tree crashes)

(chainsaw continues) (daughter screams) let's pretend for a second that you didn't let down your entire family. what would that reality look like? well i guess i would've gotten us xfinity... and we'd have a better view. do you need mulch? what, we have a ton of mulch.

it is 5:00 a.m. here at cnbc global headquarters, and here's your "five@5." we begin with gearing up for the final trading day of the month and tech trading at the highest this year. your wednesday morning setup is coming up. and then in washington, the house to pass a deal but headwinds within the republican party, they still remain. and a cautious view. jamie dimon talks all things china as they look to boos