andrea canning (voiceover): that's all for this edition of "dateline." i'm andrea canning. thank you for watching. ♪ good morning. welcome to "street signs." i'm joumanna bercetche with julianna tatelbaum in london and silvia joins us from the nato summit in brussels. these are the headlines. sources tell cnbc that shein is planning to go public in new york next year with the last value at $166 billion. european markets open lower

with luxury and healthcare stocks lead the declines as the ecb cautions the fight against inflation is not complete and refuses to rule out further rate hikes. israel and hamas agree to extend the cease-fire for two days as secretary blinken prepares to visit for the third time in the region. and the foreign affairs ministers are here in brussels to shore up support for ukraine while sweden continues to push for succession. jens stoltenberg is eager to discuss it. we will hear more from espen barth eide, the foreign minister of norway, this hour.

warm welcome to "street signs." our top story is around the ipo market. cnbc learned shein filed confidential papers to be listed in the u.s. the chinese fast fashion group was valued at $66 billion and could list in 2024 according to sources. sources tell cnbc the company tapped goldman sachs and jpmorgan chase to be the lead underwriters on the offering. >> the market debut comes after a string of lackluster ipos this year. birkenstock and instacart and arm all climbed below the stock market debut this year. julianna, is shein going to

deliver the sheen back to the ipo market? we he can talk about whether this is the right time to bring the huge listing. we don't have a lot of details. if they come to the market, it is a 2024 trade. i have a couple of points to raise. this is a chinese company and now headquartered in singapore. with the tensions with the u.s. and china, geopolitically, is there an extra scrutiny? my second point is there is criticism over shein over ip violations and relying on underpaid or forced labor. shein denied the allegations. if you are filing for an ipo, you have to expect business practices will be under increasing scrutiny. >> it is interesting despite the accusations and so many headlines with shein, the popularity has gone through the

roof. particularly with person shoppers. shein is the second most popular shopping site after amazon. also despite the out of fashion trend around fast fashion. they defied the odds around fast fashion. >> the big question for investors who would buy into this is can it continue to grow and can it continue to see market share? shein partnered with forever 21 targeting the same seeing segment of shoppers. shein is an online shopping platform. is that going to lead to more market share and can they continue to grow? >> the forever 21 partnership is interesting from the market share perspective, but the potential they thought it would have to legitimize them in the u.s. partnering with an american

company. >> let's bring in aaron jackson from deal logic. wonderful to have you with us. we are piecing together the shein listing. julianna and i don't have a lot of details on the size of the listing or timing. we know if it happens, it will happen in 2024. if shein goes ahead with the listing, how big of a deal is this for the ipo market because this is part of the market which has been doppler rrmant in the w months. >> thanks for having me on. how big is this going to be is subject to a lot of conjecture. today, the chatter has picked up around the deal. our researchers and colleagues are piecing as much together as they can. the key question we are trying to grapple with is can great companies get ipos off the

ground? i think one of the things we have been doing is for our clients in the last 6 to 12 months is providing interesting context on the market. according to our company, $90 billion has been raised in the u.s. so far. that is interesting. that is still double the total last year. it is miles away from the $154 billion in the ipo boom. and it is broader equity raising in the whole and we have seen north asia with a lot of deals in china with the science and t technology board with $130 billion. overall, we have seen 764 ipos year to date. it is a docile market which shein would come into. >> they will weigh considerations. one of the points i raised with julianna was potential guy

geopolitical tensions. could that listing be problematic in the u.s.? >> i spoke to my wife and she purchased something off shein an hour ago. i think that is wis what is fro and center. geopolitical risk is part of the surrounding environment which shein would be coming to the market and they have to answer questions around the exposure. i think it is really the business model. is it cash generative and is it growing and is the marketing strategy growing? the stats teaseem to say that. we have younger demographics in europe and america.

i think in terms of the ipo market, this is the deal that the ipo market is waiting for. it will be an absolute shot in the arm if this deal goes well. >> romaine, it is fascinating to hear you say that. we heard the rhetoric with the arm listing earlier this year. it is not the shot in the arm you described shein to be. what gives you confidence this one would be different? >> i think one of the things that gives me confidence is the narrative that management has been putting out into the market and especially what they have been saying to investors. if we look at the story behind the ipo and what they take on the road to new york, london and hong kong and the hedge and pension funds, is if we look at the first nine months of the year, trading performance is the best on record since the company

founding in 2008. that is a great story. the second thing is if you look at the credentials and track record of management, it is an incredible lineup from softbank and disney. highly capable management and great business performance. it generated to hit $800 million of $23 million of revenue last year. the story is phenomenal. especially how it uses the proceeds to grow. we have seen the company achieve significant growth in the last two or three years with the proceeds from the ipo which the valuation is up to $90 billion if we understand what the market conjecture is right now. use of proceeds to invest in international expansion and diversifying revenue base and investing in technology and logistics and in the area where the company is already strong. if you look at the supply chain

and robustness to bring new products to market and at scale and at low cost. >> romaine, coming back to the timing of the ipo, we are sitting here from the macro perspective preparing for a slowdown next year. many thinking about the potential for the recession in the u.s. and other parts of the world which could be relevant for shein. to what extent is that playing into the investment case that it is fast fashion and cheap and could be seen as a down trading opportunity? >> it is a tough market to list. we look at interest rates and inflation and share price performance on public boards over the last few months or so. it, by all means, not the perfect listing environment. however, if you go back to the core business model and you look

at the value creation model and narrative in front of investors who are hungry for yields right now. many investors have been waiting for a company with the narrative and clearly we hoped birkenstock and we hoped arm and instacart might have been that. i do look at the underlining business here with the tech side of the fast fashion business and that is incredibly robust. we know there is intense competition. to the likes of asos in europe. there is competition out there. it is not going to be a free runway. the company clearly feels now is the time and they need to fund growth and they feel like the equity market is off to the best valuation on the business at this point. >> romaine, thank you for joining us.

fantastic to get your thoughts on the big news day. julianna, let's turn to markets. we saw a dip yesterday pulling back from the three-month highs we saw briefly on black friday. yesterday, the mood turned south and as you can see the hand over into stoxx 600 this morning is slightly weaker as well. inn bdex is down .60%. november has been a strong month for the stoxx 600. it is up more than 5% over the course of the last 30 trading days or so. this is a picture today. let's get into the individual boards and break it down in more detail. there are a lot of individual stories driving the stock market. the ftse 100 is trading do down .60%. hot off the global investment summit yesterday i was talking about with pledges of 30 billion pounds of financial commitment to come into the uk is a positive sign for the economy.

today, we are focused on individual stocks. we have one very good performing stock which is rolls-royce up 6%. the engineering company increased margin on civil aerospace business. not in the ftse 100, but ftse 200 is easy jet. up more than 2% today despite the warning of the geopolitical concerns. cac 40 is down .60%. we had french consumer confidence come in higher than forecast and expectations. positive data from the cac 40 although we see a dip in luxury stocks. dax in germany, it is a big day. they have been forced to come up with the emergency budget because they broke the constitutional law with the debt

brake with the previous budget. there are new concerns of the budget presented to parliament right now. in terms of sectors, this is where leadership is coming from this morning. insurance is trading on the flat. every sector in the red today. banks down seven points. lower on the day marginally. we have luxury down 1.6%. a drag on the cac 40. the ubisoft, not in luxury, but gaming space, is down 8% today. they placed a bond this morning. health care is down 1.3% and food and beverage is down 1.2%. let's talk more about easy jet. reinstated dividend for the first time since the pandemic as they swing back to pre-pandemic of c profit. geopolitical tensions casting a shadow over the outlook for

2024. speaking to cnbc, the ceo, johan lundgren spoke out. >> we feel strong and we feel it is impacted by the conflict in the middle east. that impact on demand there that we believe is short-term did not have any impact at all when we looked at the bookings into the year into 2024. in the banking space, barclays dropping thousands of the clients as part of the overhaul intended to cut 1 billion pounds in cost according to the ft. the restructuring plan is aimed at bolstering profits as they trade at the lowest level since the pandemic. joumanna, i would pick up on the

pressure that barclays management is under. shares triading lowest since th pandemic. clearly this management team is under pressure to make some substantial changes. >> that is the crux of it. i read the article and one of the things that stood out to me is the percentage of the risk-weighted assets. investment banking is two-thirds. compared to ubs with the downsized model , it is one-thid of the model. it has a lot of room to downsize with the investment banking as well as other parts of the bank. barclays has a position that we spoke about which is more geared to the uk consumer. we talk about the downturn in the economy and the pressure on the margins. that is the reason the stock underperforms after the results came out. they have been impacted by two

of the headwinds. investment banking is not performing as they desired and are the macro headwinds coming from the uk as well? speaking of another stock today. rolls-royce shares are moving higher hitting a four-year high after the engineering company raised operating profit to 2.8 billion pounds in the medium term. that is double current levels. a argen x is a company which failed to meet the expectations for the klclinical trials. and atos is citing risk and it remains on credit maf. ubisoft placed 500 million euro of bonds which will be converted into the company equity.

and let's switch to the latest on nato. speaking with jens stoltenberg, he said he wants to see the ways of the process pick up with sweden joining in. let's get to silvia at the nato summit with a special guest. >> good morning. one of the main topics this is the migration pressures that finland is actually seeing and they heare blaming russia for that. the norwegian foreign affairs minister is with us. tell us if you see changes at the border. >> we have not seen it yet on the border. w we follow this closely. our partners report a significant increase in third

nation citizens they are coming via russia through the border. clearly orchestrated by russia to create the pressure on finland. finland decided to close all but one border crossings. we, of course, coordinate closely with them and follow the situation. this is the example when you are in war, you have a kinetic w warfare on the battle field, but we also have hybrid condition. >> did they actually work? >> finland closed most of the border crossings to prevent this from working, but it is complicated and it requires us to follow on the many fronts. not only the battlefront of what russia is doing. finland is clear and reporting to us.

we see the same picture and this is orchestrated because it wants to create pressure and divert attention. we see activity in the baltic sea lately which we don't know exactly happened which seems to be coming into a general hybrid pressure. >> let's turn to specific support for ukraine. one topic you are debating here is from the norwegian persp perspective, you will send fighter jets to ukraine. can you give us an update? >> norway and all allies say it is strategically important that ukraine emerges from this as a free sovereign and independent nation with all possible rights to choose their own path. in order to do that, we need to keep up the support and keep up the pressure on russia. we have been engaged in the

long-term civilian and military support package which is the f five-year package which was adopted by the norway parliament unanimously. i know they were happy by the volume, but it is a lot of money, but they are also happy with the long-term process. the missile system, the defense air defense of kyiv, is working really well and now we're looking in contributing with the f-16s we had in our fleet. >> how many are we talking about here? >> this is not yet settled. this is part of the overall package where we coordinate on providing the aircraft and training and equipment so this can be an effective weapon for ukraine. >> are you able to give us a timeline of when we will know how many fighter jets you will

send to ukraine? >> i will say we are supporting romania and right knnow, there a fleet of all but refurbished f-16 flying from norway to romania and it frees up capacity from romania to support with other means with what ukraine is doing. this is an all-out effort. >> we are also seeing support for ukraine dissipating. you have slovakia stopping support and the u.s., itself, is a huge question mark there. there is the point that you and your colleagues are focused now on israel and hamas conflict rather than on ukraine. >> as of this meeting today and tomorrow of the nato foreign ministers, that is the main message that will come out of it

because i coordinated the support for ukraine is on and it is strong and it will be long term. it is very important to convey that message. although most cameras are in gaza and not there, the long-term interest in making sure that ukraine prevails remains as strong as ever. this is to help volodymyr zelenskyy and the foreign ministers that we have not forgotten the ukraine cause if we also are focusing on gaza. we need to deal with two crises at a time. the way with gaza always matters for ukraine. if the rest of the world sees western countries supplying different standards with russia to what is happening in the middle east, that undermines our credibility in the long run. many allies have been clear while this has an obvious right to defend itself, it has to take

place within the same international law as everybody else. if we didn't say that, we would be victim of the double standard and we want to be there. >> we don't have much time left. i want to clarify on that point. are you suggesting we are seeing a double standard applied here? >> i'm not saying that is happening. i'm saying there is a perception in the arab world and the global south that we are not strong enough to remind our israeli friends there are rules for them. if that perception is strengthened, that may undermine the global support for ukraine and weaken the rest. we are 8 billion people on the planet. the 7 billion are not living in the west. we are right. we will be right on ukraine. russia broke international law.

russia violates the key principles and these principles need to be applied everywhere. >> we have to leave it there. thank you for your time this morning. as can you tell, joumanna, from my conversation with the norwegian foreign affairs minister, there is a lot at stake as foreign affairs minister gather here at brussels. we will have plenty of coverage today and tomorrow. >> silvia, your coverage is fantastic. i enjoyed the interview. thank you for bringing it to us. the humanitarian truce with israel and hamas has been extended two days. hamas freed 69 hostages since friday and israel freed 150 prisoners since then and continuing to make dozens of arrests in the occupied west bank. secretary antony blinken will make another trip this week.

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filing to go public in new york as soon as next year with the fast fashion group valued at $66 billion which would make it one of the largest u.s. public debuts of the past decade. european equity markets extend declines as ecb policymakers caution the fight against inflation is not complete and refuse to rule out further rate hikes. israel and hamas agree to extend the temporary truce by twos days as another round of hostages are released as secretary blinken visits the region for the third time. and foreign ministers are gathering in brussels as they shore up support for ukraine while sweden is pushing for auck session. jens stoltenberg told me he is confident. >> i'm confident it will happen, but i like to see it finalized

much more quickly. let's get a check of u.s. futures and how wall street is poised to open up this morning. muted start at this early stage. not a lot of movement after a modest pullback on both sides of the atlantic. in terms of the day ahead stateside, we keep an eye out for the conference board consumer confidence index. we have the manufacturing index for november coming up and house price data for september. backward looking. fed speak and then we have a u.s. treasury auction to look out for. the seven-year auction. some things to watch, but investors are pausing for breath on this tuesday morning. turning to european markets, similar to yesterday. a modest pullback. you have the ftse 100 down .40%. cac 40 down .40% as well. as you heard in the headlines, we did get some fresh comments

from the ecb yesterday and again today where lagarde spoke before parliament reiterating the ecb is not thinking about cutting rates yet. it is not the time to declare victory. that is contributing to the downbeat sentiment this morning. turning to fx markets, currencies this morning are muted as well. you have the pound holding s steady against the dollar. 126.31. euro is holding flat against the dollar at 109.50. turning to bond markets. this is where the fresh flight attendants fcomments from the eb is getting digested. yields are lower in france and germany. the german government has unveiled the supplementary budget to seal the

constitutional budget. the parliament transferred unused covid relief funds to fund other projects leaving the government with a hole in the spending plan and forcing it to halt all new spending commitments. this needs to be approved by the parliament. >> chancellor scholz was speaking today. in the speech to parliament, he said this will not impact current spending and the discussion about the court decision is over. a little bit more about what he said. he said it is clear from the outset that the energy crisis efforts also are about the 2023 and 2024 winter. current spending is not impacted as i said. the state will continue to fulfill its tasks and they will be able to end the energy price breaks at the end of the year

due to gas storages. germany has done a good job of shoring up of energy supply in the wake of the russia and ukraine conflict. germany has the biggest industry with climate friendly steel and battery plants. he said we must not let up in the support for ukraine and overcoming the energy crisis under any circumstance. it would be a serious mistake to reject the modernization in the face of challenges. these are fresh comments a few moments ago from the chancellor. you see live shots from berlin where he was speaking. let's get out to annette who is helping us navigate the constitutional court ruling. annette, you highlighted that scholz has plunged in popularity in the wake of the court ruling. now we have the supplementary budget unveiled.

what does this mean for scholz's trajectory from here? >> reporter: i think the low rating is not just because of the constitutional court ruling, but it is coming on top of a government which is not at all popular for handling the energy crisis for twists and turns with the energy subsidies and heat pumps and on top of more rules for refurbishment in plant-plan plant-plan plant-related issues. they are fed up with the twists and turns of the government and the amount of extra regulation which is put on households and the prospects for the economy and the real estate market just to name a few of the issues around here. it is probably just too much for the government to have a higher

popularity. olof scholz and how he actually ruled through the crisis is also not very much liked by most voters as he is kind of circumventing the public and only actually addressing it at certain times. for more than a week's time, he is addressing parliament for the first time about the budget issue which tells you something about how he is actually running the country. so people are missing information and, of course, germans do like the fact that the department levels are not yet pushed to the maximum as we have been discussing that for a long time. the notion of higher debt is something which is not going down well with the general public here in germany. that is exactly what is the issue in parliament.

they are insisting we need a sustainable time and for future generations because it is not fair on them to overspend now. and the trick was the balance sheet or general budget, i should say, are not at all okay and also put more pressure on future generations. having said that, at the same time, what needs to be agreed at some point in time is the budget for next year because there is so much need for financing. so far, it seems that these discussions and negotiations will be very tough because nobody wants to give away their spending possibility. especially not the economy ministry where the giant energy transition fund is sitting. the key question is whether this can be safeguarded in terms of spending possibility or not.

where the money should come from as well. the first reports is the liberal party is pushing through lower taxes for lower income families and higher child allowances. it is a mix and at the same time they want to relieve the tax burden as well, but they have all of the spending targets which they previously co-financed with the vehicles. we are in for interesting weeks. >> annette, we have you navigating us in the weeks ahead. thank you for the details. speaking of germany, they raised the spending target with the new commitment to hit $60 billion by 2023. this capital markets day is taking place today. we have more detail here. the group's cash investment target is the annual spending of

79.8 billion euro in renewable batteries and hydrogen projects. that is up from the 2021 to 2023 period. thanks to the headroom, they are in excellent position to continue the transformation in the current challenging environment. i'll speak to rwe ceo markus krebber. you can catch that interview tomorrow. >> i'm looking forward to that. tech investment in europe is projected to hit $45 billion this year. the third highest year on record, but sharply down from 2022. that is according to atomico tech report for 2023 which says europe must embrace risk now to shape the future. if you want to hear more about the story, we have a write-up on cnbc.com by ryan brown for more

information on that article. the head of atomico is here with us. let's pick up on the headline. tech investment of $45 billion. that is a good number. the trajectory is slowing down. down 45% from a year ago. what do you make of the downward path? >> thank you so much for having me in this morning. there's no escaping this is another challenging year for tech industry globally and europe is not immune to that. investment down to $45 billion. you have to move behind the headline number and see what is going on. when you look at when the drop happened in q2 last year. since then, we now have five or six quarters of stable levels of investment. in the most recent period, signs are on the uptick. the decline has been almost entirely led by the growth

stages. at the early stages, we are seeing incredible robustness there. >> that is interesting. one other element of the report that stood out to me is american and asia investors have started to retreat. is the source of the funding shifted more toward european investors at this point? >> in last year's report, we started to see the global retraction had shifted flows of capital between regions. we started to see u.s. investors participate in fewer rounds with their share of capital investment declining. that is the same story this year again. really, that's been led by a sharp pullback in terms of activity from crossover investors. these investors are active in the public and private markets. to put numbers around that in 2021, a cohort of investors did over 100 new inn vvestments in europe and this year we have

seen it decline to less than a handful. >> when it is the decision to choose in europe as an investor, access to capital is the c citcite of why this is not the reason the stock is robust? >> one of the things that is interesting is when it comes to new tech startup formation, europe is exceeding the u.s. for a number of years now. as you point out, access to capital is where the work needs to be done. we talk about a $1 trillion capital gap. assets from management from managers in the u.s. and europe and you look at alternatives and you look at the share here, the gap is equal to $1 trillion. that is the gap that needs to be bridged. of course, we see huge progress

there. this is why we say this is the moment to embrace risk. uk fundamentals are strong and talent base and huge activity with companies being started. obviously, still things need to be done to realize the full potential. >> it is on top of mind for governments. joumanna spoke at the summit yesterday aimed at bringing tech investment into this country. one of the things that stuck out to me from the report is the interest in a.i. which will come as no surprise. looking at the size of the funding rounds and a lot of the a.i. companies have engaged in and we are still looking at small companies compared to the pioneers in the space. is it realistic to think europe can compete with the giants in the u.s. when it comes to a.i.? >> it is a great question. i think you can't talk about the report without bringing up a.i. what do we see? at the early stages, a.i. is the number one investment theme in

early stage companies. we also saw that a.i. has become a dominant theme at the stages with 100 the 00 million rounds . a.i. has 30% in europe. a long way to go to fill the capital gap versus u.s. that being said, when it comes to a.i. talent, this is where europe has the edge. one thing is where around the world are high-skilled a.i. workers? that number is growing in the last decade in tech. that is a strong foundation from which we will see future european a.i. champions emerge. >> on another note, one thing that stood out to me is you have a page in your report that lists the top five themes of new joiners. i thought it was interesting we talk about a.i., but sustainability and climate is still at the top. very interesting with the backlash that esg investment has

had in the last couple years. what do you make of that? >> i'm glad you picked that up. that was interesting. we tried to map what was magnetic areas for people joining the tech industry. what we see in the numbers is the determination among european talent to work on the big problems that we face. be that climate or health. that is really reflected in terms of what we are seeing being the big pull effects for people of changing roles. >> the gen-z mindset. more purpose driven. >> it is a huge problem. there's a huge possibility to have an impact. there is a huge commercial opportunity. the narrative of those two things. >> maybe also the jay-z mindset. >> wonderful to have you join

us. we have a full write-up of the report on cnbc.com so you can get all of the details there. you can see it is pre-viewed as we speak. if you want to get involved in the conversation, you can follow us on x @streetsignscnbc. we're going to take a quick break. when we come back, a record-breaking cyber monday stateside as buy now pay later vendors takes over. we'll have details after this. w and a leg for postage. i remember setting up shipstation. one or two clicks and everything was up and running. i was printing out labels and saving money. shipstation saves us so much time. it makes it really easy and seamless. pick an order, print everything you need, slap the label onto the box, and it's ready to go. our costs for shipping were cut in half. just like that. shipstation. the #1 choice of online sellers.

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learn how you can get $1000 back for your business today. comcast business. powering possibilities. welcome back to "street signs." investment in art is on the rise in asia. christie's is sppartnering with the next generation of artists. emily tan filed this report. >> reporter: taiwanese pop star is sharing his stage with the promising talent in the art

world. as one of asia's best known singers with 30 million records sold worldwide, the songwriter and actor counts himself as an avid art dicollector. he shares with millions online on instagram. it is not a surprise when christie's announced a partnership for the post-millennium evening sale. >> translator: it is a coincidence i made my debut in 2000. with this fate, i thought, i should credate a stage to suppot young artists. >> reporter: the auction is aimed at engaging and empowering millennial collectors. >> this group of buyers are focused on young artists. the price point is more affordable for them.

that is a major reason when they come into the market and they he stop at the young artistartists. >> reporter: chou believes art is the most important asset class. >> translator: when i was young, i thought this is a cool car. all guys like cars, right? i think what is a collection without a language barrier? it is in art. like today, i don't need the language. if you don't speak chinese, it's okay. we can exchange thoughts and look at the art together just like magic. >> reporter: chou's mom, a former art teacher, played a big role in his love for art. >> translator: she taught me a lot of painters and genre. i know i have the ability to get the art work from matisse. >> reporter: his mom used to question his super car purchase, but when it comes to art, it is

something they both can appreciate. emily tan, cnbc. elsewhere, u.s. shoppers are expected to have spend $12.4 billion on cyber monday according to adobe. that outpaced the 5.7% growth on black friday spending. i was out for most of last week. in the run-up to black friday, were you critical of british shoppers. by the way, it has come out of the data that black friday sales data in the uk has disappear podisappeared. >> i had not seen that stat from the uk. i'm going to be very hypocritical here. i did so some shopping on black friday and i went out. i was in-person and order online. i fully participated.

>> you know what i thought was interesting about the u.s. sales numbers and to bring it back to economics here, it is interesting the jump is not only because of inflation and higher prices, but the demand. a couple of trends here. americans have started dipping into the retirement plans and savings and taking on more debt. more consumers are using buy now pay later than before. it is up 19% from a year ago. >> that is interesting. it is a big part or question mark around the new model. you know, how these companies will fare in the economic downturn and is this dangerous for consumers to load up on the buy now pay later schemes. the companies we spoke to say this is a safe way to borrow. it doesn't carry the same risks the traditional credit card market would. this looks like it would be a

test. >> it hasn't been tested. don't underestimate the u.s. consumer which is true to a certain extent. there are a few red flags beneath the surface. >> and what people have been buying and haven't. electronics and games and toys have been big. home repair diy tools not so much. >> post covid. >> everybody has all they need. let's look at u.s. futures before we hand you overcolleagu. not a lot of action as investors prepare for the day. i'm julianna tatelbaum. >> i'm julianna tatelbaum. "worldwide exchang ie"s coming up next. 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

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it is 5:00 a.m. here at cnbc global headquarters. here is your "five@5." the pause in the rally is continuing today. the history suggesting the recent run may be getting started. and china's central bank looking at a new course. the pivot the pboc is roceady t make a move. a . and shein is looking to a new