and she's going to live this way for the rest of her life. that's all for this edition of "dateline." i'm craig melvin. thank you for watching. good morning, and welcome to "street signs." i'm joumanna bercetche. >> i'm julianna tatelbaum. these are your headlines. commerzbank climbs of a net profit trooperles to more than 680 million euros and the german overhaul is beginning to pay off. cheers scores and continues the momentum going into the

holiday season. there are shares breezing toward the top of the stoxx 600 on its third quarter earnings. ceo henrik andersson says the in industry is maturing. >> we need to find the winners and losers in the industry, and that always settles in over time. >> and the imf warns it faces a difficult task, urging decision-makers to keep policies tight, but tells cnbc the industry will avoid a recession. >> we're still not protecting a recession for europe, but clearly the recovery could be a little bit less. good morning again. it's good to be back.

we've been on and off the last couple of weeks. >> you've been busy in zurich, but at least we got to see you. >> i want to bring you some lines out of the ecb survey for anyone who's been looking at what the ecb have been saying since, of course, that last meeting decision. they have now said that according to the survey they put out, consumers are seeing inflation of 4% in the next 12 months versus 3.5% in the previous 12 months. that's interesting. consumers' expectation for the inflation sees it at higher. that tells you, julianna, that at least over the last couple of weeks or so, expectations of where inflation is going to end up has moved d higher. >> that is really interesting.

they've joined the federal reserve in pausing interest rates and it feels as though much of the conversation has begun in cutting rates. as you said, the survey expectations come in higher than they were given the narrative around all three of these major banks. it's been much more around where they're going to cut. >> that's exactly what we're seeing in the marketplace, julianna, as investors focus on the next step. we're seeing more and more rate cuts being priced into 2024. that has given a bit of a boost to stockmarkets and to yields as well. we've been focused lower in yields u.s. treasury getting toaround 4.5% and the 10-year note after reaching the lows of 4.48 last friday. we continue to see momentum pulling back from around the 5% high we had a couple of weeks ago, and, of course, we are seeing more positivity in the u.s. stock indices as well.

let ous look at it. today we're focused on earnings. so many report card earnings are coming through. we'll get right to it. let's switch over to european markets. one of the indices we're watching is the ftse 100. the index is up 0.1%. the market is up more than 8% after reporting a better than expected 75% rise in first half profits. so a very strong reaction many m and f. and we had a guest on yesterday who suggested he didn't really push back what the market was suggesting, which led the market to speculate about even more bank cuts. the comments were interpreted to

be quite dovish. over here we're slipping down ab about 0.1%. adidas down about 1% as well. we will talk more about those. in terms of individual stocks, winners and losers -- let me get to the sectors first. in terms of leadership, this is what we're seeing today in terms of those sectors. we will get them in a second. what you will see is retail -- there's a boost to retail. travel and leisure up 0.8%. we're seeing a selling off. the financial services also struggling. now let's get to the individual winners and losers in stocks.

lots of woes facing the win sectors. look at the dutch stocks. almost 8% after posting results today. and here the opposite price action to m and s. the net profit of the bank came in at 6 84 million euros ahead of forecasts. the german lender gave a strategy update, a net profit of 3.4 billion uros by 2027 with a return of tangible energy of 11%. it's pup 4.7% today. they're promised to go down to the root of the share buyback.

>> exactly. i think there's a reason why it's showing a positive result. they're hiking the profit for the whole year to 2.2 euro, which is the best result ever since the great financial crisis, and since the german government took a stake in the bank, that givings you an idea how good the results are actually. they're also promising to return the shares. that's the reason thayer up so strongly today. if you ran through the numbers, the matchup is down to the highest interest rate, but they say the interest rate is attacked to peak with the expectations that the next rate

move will be a rate cut, no more hikes. the general business is doing better than expected as well especially the bank that was intrepid with specific credits and swiss banks opposing a huge loss. they can actually compensating that by the higher interest rate environment. the m bank is no longer a burden for the bank. to sum it up, the results look better than expected. they're trying to massage the share price for buybacks and dividends and it seems to be quite promising. >> annette, thank you.

bayer posted a loss. the ceo is not happy with the year's performance. we're down 15%, 16% year to date and will remove multiple manager layers and looking closely at its structural options. annette, i think the big question is will they actually make a move on the consumer health business and/or their crop science business. what is the latest? where do they stand on those two potential roots? >> they're saying the two options are on the table for the units, but they're also saying a complete split into three separate units is off the table. that's not what they're targeting. by investo currently, there are quite a lot

of headwinds when it comes to pricing, especially with the crop science unit. the volumes are up across the globe, i show uld uld say, but prices are the problem. the outlook is not so bullish. bayer says they're looking into a challenging market environment and also challenges for their profitability, key issue, when you look at the outlook statement. so nothing really investors do like too much. as we were saying, the biggest thing for investors is whether they're splitting or not splitting, and here we need to have more patience because

they're guiding us, we have to wait until march 2024 when we have investors day. >> annette, thank you so much for the overview of some of the key german stock drivers this morning. switching over to the uk, m & s is surging after posting a 75% profit. it did note hiring costs and tel temperamental weather was causing it. we bring in arabile gumede. >> the price is up nearly 100% year to date. it kind of gives you a clear sense of yesterday's compensation not as dire. but on the other hand, they've had this -- they've had this

turnaround plan and now it's gone strength to strength with the current ceo as well. it kind of gives you the sense they're trying to improve things. they've increased their net debt from nearly nearly 3 billion a ago. now 27.7 million pounds. they managed to go up in h clothing and food. food sales went up nearly 14%, 12% on a like-for-like basis. still a high cost situation for the uk. plus clothing and home sales went up. they're doing well, but it's a tale of two halves unfortunately for them. they're worried about the second half of the year. the consistent costs. you still have the higher interest rates, inflation numbers in the uk are relatively

higher than everything else along the g7 nations. also into 2024, they're saying they're not relying on the current favorable market conditions persisting and actually the outlook does remain a little bit uncertain. >> it's been a remarkable turnaround story. you see the clothing business doing really well after so many years of trying to get the business off the ground. it feels like their efforts are paying off. what is the outlook for shareholder returns? i noted that today they've reinstated the dividend for the first time since 2019. ta that's really encouraging. >> that's really because they're saying, yes, they've got choppy weather conditions and the like, but because the turnaround extraet. i has worked so well for them, they're able to bring it back. yes, moderate, but still means they're moving in the right direction. they do have worries as well

about whether progress will be linear and whether they'll be able to grow the business the same way over the next number of months. they're perhaps trying to taper down expectations, saying, we've done well but it won't be the same. customers are responding well to the christmas ranges which seems to be very good. this time of the year, that's exactly what you need. it's up 100%. tesco up 120%. clear outlier in the rest of the retail space in the uk. >> arabile, thank you so much for shedding some light on the sparkle. we're going to take a quick break. coming up on the show, we're going to talk about vestas with shares breezing for the top of the stoxx 600. we'll take a deeper ventdi io the sector next. pounds on golo. i struggled with weight loss and weight gain

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on street smart today we wanted to take a look at latest numbers out of the danish turbine maker vestas.

shares are trading at the top of the stoxx 600 after the company posted a better than expected third quarter ebit of 70 million euros compared to a 127 million euro loss last year. the firm cited easing supply chains and higher turbine prices. . >> they need to find the winners and the losers in the industry. that always settles over time. we're very disciplined. partners can rely on us. governments can rely on us. i hope that creates a strong foundation to be one of the winners in the industry. so it's not broken, but you can't close your eyes and expect that any project you would bargain to discuss would always come through.

>> despite the earnings, they're leading to pull back its full year investment and ebit margin guidance, but that is just one. there are so many other companies that have been caught in the midst of these winds woes. let me start with orsted. it's the latest -- let me just go over here. orsted, starting with that, they have announced they're scrapping developments on two offshore projects in the u.s. with the related impairments totally $5.6 billion. it blamed the decision on rising interest rates and supply chain problems, which had raised costs to unsustainable levels. the interesting thing about orsted, it's probably the most pronounced one in terms of how far we've traveled in the last couple of weeks based on the market's view of their underlying business. the stock dropped more that 20% after they announced they were scrapping two american projects

there. s&p is now considering a downgrade of the company's credit. deutsche bank has slashed their share price forecast. one thing that works in their favor is they're 50% owned by the danish government. in a similar vein, let's do a deeper dive into siemens energy. et the company has announced more than $2 billion in charges and is now in rescue talks with berlin to secure 15 billion euros and guarantees to help shore up its balance sheets. this one is quite interesting because the catalyst for siemens energy was the profit outlook warning that they issued back in june. they said that ultimately they were going to have to write off a significant part of that business, which is the wind energy business. a couple of weeks ago they had to ask for state guarantees from the government. it tells you they're in a very tricky position as far as the finances are concerned. just to give you an idea of the extent of the losses, according to s&p capital iq, nearly two

thirds of the operating losses of seeiemens energy has been a huge headache for them. >> a huge headache for siemens energy and for the stock. let's take a step back and look at the factors that are really weighing on the overall sector. there's a number of them. turbine makers have been hit by supply chain snarls that have failed to keep up with global demand which in turn has led to rising production costs and raised questions over the economic sustainability of projects. that's not all. manufacturing has also been an issue particularly hitting the energy unit. let the company races to build larger than ever turbines. that's the big issue. the larmer the turbine gets, the more likely they're vo to have

faults and issues. the companies are operating in a tough market space. they find themselves outbid in ceiling prices by oil and gas. companies are now looking to governments in europe and the u.s. to raise subsidy levels to get the market back on track. one of the issuers with the subsidies is they're hard to access. it's not as if they're as simple as getting more subsidies in place. i would add the reason this is so important, i think, for investors and the overall economy is that governments are -- countries, rather, are working so hard to reach these climate change goals, these really ambitious climate change goals and wind energy is key to that. it's key to hittin t ting the c targets. >> i think the big takeaway from

the last couple of months is for many of these companies, the project is not reliable. that's why we're seeing so many issues at siemens as well. lots of questions we're going to be raising with our next guest. >> jacob peterson joins us. thank you so much for being with us. we're talking through the major negative share prices you've seen across the sector and the underlying factors that have been driving the weakness. this morning we had on the ceo from vestas. would you say that's a fair characterization? >> yes, i would, definitely when it comes to vestas, but i also think vestas are a hit to the producer competitors in the industry. i think thinks will move forward for vestas from here.

we know that this is a very huge part of the problem is related to the projects that were back in 2019, 2020 at hoe pricesful since then, inflation and interest have gone up. it's become too expensive to realize these projects. it's left a book of deficits. it's smaller and smaller as time goes by. >> based on your analysis but also in the industry more broadly, are supply chains normalizing? >> they're normalizing, but they're not back yet. we should remember more than 10,000 pieces go into the wind turbine sale and if only one piece is missing, it is difficult to get the project finished. so it is improving.

electrical components are the biggest issue at the moment. things are improving and they see that as the production planning being easier for the companies going forward. >> jacob, when we were talking about the write-offs for some of these wind companies and their northern american units, one of the topics ta came up was the lack of available subsidies not being granted for many of these companies. to what extent do you think this is on the government versus the reflection of the need to have the subsidies to create viable eeconomic outcomes? >> there's a view on the political view of what does this transition cost because we know that wind turbines have increased in price between 20% and 30% since 2020.

so the transition to wind turbines to a greener energy portfolio around the world is getting more expensive. and as such, i think we have seen some indications. we know that the u.s. is a huge problem for the offshore industry at the moment because of the rise in interest rates, but we have seen the newest projects being awarded on much, much better terms, terms that should be good for companies to generate a profit moving forward. so the recalibration is coming along, but it's not final yet. we have seen that. also in europe, the wind energy action plan from from the commission, that, of course, is a huge step in the right direction, but it's not done overnight. this is a process that takes time. and in order for project

developers to invest in new projects, in order for wind turbine users to invest in a needed capacity to get us to where the politicians have their goals, much more is needed. these companies simply haven't gotten the cash to invest smart shares that's needed at the moment. >> the other thing as well, they need to be rewarded for their investments. there was a very high-profile case in the uk where they had an auction for offshore wind farms, and nobody, nobody participated in it, which was quite embarrassing for the government. but then people in the industry were saying that they have been warning the government that the price that they had set for the auction was too low to begin with. it just wasn't enticing enough for them to get involved. how much is the government involved in setting too low a

price to make this viable? >> as i said, i think a recalibration is needed in terms of a price of this transition, and that comes, first of all, in the auction price, and i think we will see that moving forward as well. the pricing and pricing indications are too low. we will just have auctions. and that doesn't really drive the rush toward a greener transition very much. >> jacob, really appreciate you joining us and helping us to understand more of what's going on in this sector. jacob pedersen, analyst from sydbank. >> if you ooesh got questions you can follow us and tweet us directly. also coming up on street signs, can the european company stomach higher rates for longer? we'll bring you a conversation with the dep pugt director helge berger, the director, that's

coming up next.

welcome back to "street signs." >> i'm julianna tatelbaum. >> i'm joumanna bercetche. >> dividends have risen for the first time in four years, putting it on track this year. profits climb in the third quarter in a sign that german lenders' overhaul is beginning to pay off. vestas brushes off troubles in the turbine sector with shares breezing toward the top of the stoxx 600 on its third quarter earnings. ceo henrik andersen tells cnbc the industry is maturing. >> we need to say in broad terms we need to find the winners and losers in the industry, and that always settles in over time. >> the imf warns europe faces a difficult task in warning price stability urging decision-makers to keep policies tight, but the fund's deputy director tells me

they need to avoid a recession. >> it seems to indicate as much. we are still not protecting a recession for europe, but clearly the recovery could be a little bit delayed. the imf says retaining a restrictive monetary policy stance is pair moujts for returning inflation to europe -- inflation in europe to target levels, although, it warns most won't do so until 2025. it's forecasting a soft landing for most of the continents and its regional outlook reports. it expects growth to slow to 1.3% this year from 2.7% last year before ticking up slightly in 2024. now, i caught up with the imf deputy director of the european didn't helge berger and asked

whether the economy can stomach high irrates for longer. >> our base line, ecb and other banks will keep the policy rates at around the current level until late in 2024. this will ensure that inflation indeed goes down to target by 2025. so you have to have tight monetary policy in the foreseeable future to make sure that this actually takes place. >> well, again, going back to the report, one of the aspects that jumps out to me, you mention the immediate challenge for europe is restoring price stability. do rates have to stay where they are in order for that price stability target to be achieved? >> well, i think for most central banks in europe, it's indeed true a monetary policy should remain tight for the time being. this will make sure that this inflation proceeds as we expect, but we have to put in the work. we have learned from history that if you -- monetary policy

tightening needs to be in place for a little while. you have to be patient more often than not, it means we have a resurgence of inflation which means central banks will have to tighten've more at higher costs later, so this is the right approach. keep it tight for the time being to see this inflation through. >> inflation as we know tends to be driven at a headline level by food and energy prices. but you've got a full segment in the report dissecting what's happening with the labor market. do you see persistence inflationary pressures emerging from the labor market? >> i think the labor market is central both for our economy forecast and our forecast of inflation. to be clear, what we expect is wages to grow at a healthy pace both in advancing economies and emerging markets going forward. for the commerce we expect 5%

rate, 4% for corporate next year and 3.5% in 2025. this is a good thing. this supports real income growth. this supports consumption, which in turn will provide a bottom for gdp growth. however, it's also important that it doesn't become exuberant and it stays in line with productivity growth. so that's an area we have to watch. one aspect here is that policy makers can help with the productivity growth. we think about everything that helps europe to increase medium term growth which we fear is still a little bit on the low side. another aspect is monetary policy. monetary policy, if it's tight enough will make it more difficult for firms to pass on higher costs to prices which will sort of also help anchor inflation. >> and i also asked him about risks to europe's medium term growth outlook. >> gdp numbers came in broadly as we expected.

if you exclude island, which is a vol able to gdp series, but it's true q4 could be a little weaker than forecast. it would seem to indicate as much. we are still not protecting a recession for europe under the baseline, but clearly the recovery could be a little bit delayed. another risk is that inflation could be higher than we currently expect. there are at least two reasons potentially for this one is the conflict in the middle east and if it extends beyond the current localized state could mean pressures for the global energy market and we have learned the hardaway this means hard-line inflation for the european economies. the other aspect is wage growth. while wage growth is a part of the forecast, they're catching up. there is always the risk that wage growth becomes too far removed from productivity growth and that could be another

pressure point for the economy. >> let's get back to markets. we're just over an hour and a half into today's trading session. overall the european market is trading marginally lower. ftse 100 holding on to one basis gain at the moment. the tlan market is underperforming about 0.7%. the xetra dax down about 0.4%. commerzbank very strong. m & s and vestas trading strongly after results as well. on the downside, the supermarket company flagged a market weakness in the u.s. a little bit of a flavor of what's performing best and worse this morning. all of this comes after equities and incomes rallied stateside yesterday. all three majors ended in positive territory. microsoft shares closing at a new record high, rising for

eight straight days for the first time since 2020. dow jones added about 56 points and the s&p gained about 0.3%. i want to take a step back and show how the u.s. markets have been trading in the last week or so since the month of november kicked off. i mentioned microsoft trading higher for eight straight days. the tech-heavy index has also posted an eight-day win streak. that's for the first time since 2021. s&p and dow have been trading well. seven positive sessions for those two indices. now what's in store for today's session? not a lot of huge action at this point. a very muted start. only double digits for the nasdaq. even 11 points lower indicated. we've got more fed speakers to look out for. a 10-year treasury action will no doubt take investor focus

later on this afternoon. >> what i think actually stands out to me in terms of the market action the last couple of weeks, julianna, is how quicker the market has moved away from the higher than market narrative, and that's rate cuts, rate cuts, rate cuts. it's pretty significant you're pricing in more cuts. this is after comments made yesterday. what that means is investors who have been quite comfortable being positioned in the higher for longer higher rate scenario and also bearish equities positioning are now realizing the narrative has flipped on its headgher for longer is no longe the story. now the story is about rate cuts, which is why you're seeing such a vicious move in some of the yields and also the surprising resilience and u.s. markets. it's been seven or eight days of con sec active gains as well. >> i think the strength of the narrative has surprised some.

i was reading a note yesterday from ubs that they don't care at the moment. we heard from a variety of fed speakers yesterday. we have a range of voices. not a huge amount to change the market narrative. it feels as though they're so comfortable in this new narrative that rates have peaked, that even if we hear different signaling, it doesn't seem like it's going to move the needle much. investors believe in this narrative now that rates have peaked. >> that's why the reaction to hugh pill was interesting. there was about 70 basis points priced in. the market took it as even more remember to price in interest rate cuts. one thing that's interesting that i think is relevant is the price of oil and what's happening there. again, that was a major theme. another leg up in oil could be one reason for central banks to perhaps maintain hawkish buyers,

but oil prices have started to drop in the last couple of days. originally the catalyst was -- the market being in a state of deficit and geopolitical concerns, now once more the narrative has changed toward growth next year and weaker demands coming out of china. the buildup of supply coming out of other parts of the world, the u.s. included. and so on the back of that, there's been a lot of downward pressure on energy markets as well. you could also point that down to positioning, but it's quite telling what's happening to markets too. >> it does seem as though the trading has changed. a lot of traders took out positions after the hamas attack, closing positions on the view that the conflict at the moment is likely not to escalate from here. on that note, let's talk about the latest. fighting has intensified in the gaza strip as they've encircled gaza city.

in a televised statement, israeli prime minister benjamin netanyahu said there would be no cease-fire before hostages were released and urged people in gaza to move south warning that israel will not stop. >> reporter: the gaza war is entering its second month and the israeli prime minister benjamin netanyahu has announced that his military is now encircling gaza city and has cut off the northern tip of the territory from the southern part of the gaza strip. he has said in interviews that israel may consider some, quote, short tactical pauses to allow aid in but also said that there is no talk of any cease-fire on the table unless all hostages are released. he also said something that has raised the interest of many people listening to the israeli prime minister that the security of the gaza strip may be handled by israel for, quote, an

indefinite period of time. what does that mean? does that mean a buffer zone? does it mean some sort of security cordon, or does it mean something different like a reoccupation of the gaza strip? we know the united states has said it's very much opposed to that idea. now, there are some reports that humanitarian convoys have been hit on their way to the southern part of the strip. the palestinian red crescent and r cnbc have said that a humanitarian convoy was targeted. meantime hospitals and medical facilities are complaining once again that the lack of fuel is forcing them to ration care to those people who need it most. one very small bright spot, the number of evacuees through the rafah border crossing into egypt has increased. up to 500 people have crossed. most are dual nationals and foreign nationals and a handful

as well of injured gazans have made it out. back to you. >> that was nbc's reporter reporting. and arm earnings, we'll discuss what to expect next.

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welcome back to the show. a lot of commentary coming today. i want to bring you lines from andrew bailey. he's speaking at a panel at the central bank of ireland in dublin. let me bring you interesting lines. he's saying he expects the next inflation read to be quite a bit lower by year end. also it should not be down to 2% but still quite a bit lower by the end of the year. we think policy is now restricted. economic growth very subdued. we believe policy will need to be restricted for an extended period, but there's still an upside risk, mirroring, of

course, the statement out of the bank of england last week. really too early to talk about cutting rates. again, he mentioned that in the press conference last week, but i think it's interesting to note they do expect the inflation rates to start dropping quite rapidly in the next couple of months. let's turn our attention back to earnings now. disney expected to post fourth quarter results with revenue seen rising in double digits. cnbc's julia boorstin will be speaking with ceo bob iger in an exclusive interview today. you can catch that at 2205c te. and arm, the semi-conduct irfirm, is expected the p postearnings. we're joined by our next guest. has the arm listing or the fact

that it's a public company influenced it at all? will it have any bearings on the set of results that we're going to get today? >> i think yes. so the timing is right for arm to go public, and it's good for soft bank as well. it will help them increase their earnings from now on. on average they used to get almost 2%, 1.2% varieties and the semiconductor market, but with the new licensing modeling, they'll try to maximize it. >> i want to ask you about where the growth opportunities reside. i remember in the buildup to the ipo, we had lots of conversations about arm and the fact that their technology, their ip is so present in many smartphones. i believe they've got a market share of more than 90%, 95% when

it comes to the smartphones. so in terms of growth, where do they go from there? they've tapped o it the smartphone market already. >> smartphone has been a number one market because of the no power combination community. it's 99% powered by arm ip. the next growth for them is the onset of ai they're seeing everywhere. so the data center, sbu, that a is going to be the biggest followed by automotive. pcs, if you look at the pc as well, the macbooks, the new macbooks have done really well. they're all arm-based, ip. it's taking on intel with new qualcomm chips. pcs, automotive, cloud computing, these are the big opportunities for arm, the

biggest platforms. >> neil, what is the biggest risk for arm when it comes to these efforts to unlock value and really maximize the potential for it that they have? >> it's -- the new business model itself is a little bit risky because it's going away from licensing to almost completely a portfolio licensing, which increases the licensing costs. so, again, arm has a great ip, so i think eventually customers will get caught up with it. apart from that the biggest risk would be china. if you look at most of the technology giants, the pc space, the sector under it, if you look at arm, china is a subsidiary of

soft bank. you get a lot of geopolitics involved with this, in arm china as well. >> what are you expecting to hear on that front today? i know this was one of the big deterrents was the lack of governance, lack of control over the china exposure. what might we hear from arm today in terms of what's happening in china? >> i think so far it looks solid, but still this is going to remain there. i think they still have a very unique ip. it's difficult to look at in one night. you have customers in china are more based on ip. it's like a risk and then there's technology as well. some believe their own proprietary ip, but the division is a rare arm executive scan and

investors and how much control they have and all the new opportunity they're seeing in the market. >> well, this is obviously the first set of earnings that we're going to get from arm since the blockbuster ipo. how much should we think about read across to other companies in this space? >> arm is in a unique position, so if they're seeing some growth in terms of revenue compared to the last quarter, which is a positive sign because until the last two euros, we have seen the natural smartphones have been going down. there's a lot of entry in the market. we saw arms in q2, which is during the quarter. but if there's a slight update, which means the market is opening up a little bit, you could see some favorable growth in the biggest consumer electronics market with smartphones. so that could be a good representation. >> fascinating. well, let's look out and see what's in store for us later

today with the results. neil shah, partner and co-founder. let's take a look back at how european markets are faring because we're now seeing a day of red across the board. we started off slightly mixed. the stoxx 600 was trading around the flash line, but since then we've turned a lot of focus on earnings. some of the results coming on earlier in the show, we were talking about the likes of adidas. bayer one to watch in germany and, of course, within the dutch index we're not showing here but showing a deep downgrade. in terms of the positive stocks, we were talking about vestas and the company there surprisingly actually is up 8% despite the very difficult journey the wind companies have been on the last couple of months. >> i think it's encouraging

commentary. our guest jacob pedersen agreed, they have crossed an inflection point and things could be getting easier. it seems like they're beginning to ease. let's get a check on u.s. futures, what's in store for the wall street open. we're flat lining right now across all three of the majors after eight straight days of gains for the tech-heavy nasdaq. for the s&p and dow we're looking at seven positive sessions. to your point it seems all about the fed narrative. >> to your point, let's look at what powell has to say wednesday and thurps of this week. with that, we'll hajd you over to "worldwide exchange." that is it for our show. i'm umna bcehejoanertc. >> i'm julianna tatelbaum. we'll see you tomorrow.

it is 5:00 a.m. here at cnbc global headquarters and here's your "five@5." we're going to start with keeping the rally alive. stocks looking to extend their longest win streak in two years. despite the warning, the campaign may not be over. helping the stocks go higher, big tech. and the big news that keeps rolling in from hoft. hot on its heels, amazon and looking to take a bite out of the chatgp