aimelvin: that's all for this edition of dateline. i'm craig melvin. thank you for watching. million . hello and welcome to street seitz. i'm carolin roth and these are your headlines. swiss come vodafone dealafter an exclusive negotiation to sell its business to the italians for 8 billion euros. chuck robins telling cnbc the tech is set to turbocharge transformation. >> that time frame is just going

to be very tight. we're going to see the impact of ai very quickly and that's going to be the big difference. it's going to have a meaningful impact on some of many things. >> quallcome's ceo joins us in the next few minutes. u.s. majors looks set to open in the red after a mixed close after investors key inflation data. and nato members push back, rejecting comments from french president emmanuel macron over the prospect of western troops in ukraine, but patrick poroshenko tells them leaders must come together. >> we must come together. otherwise pew tin grows strong

ir. good morning, everyone. some m & a action to tell you about. swis swisscom has advanced. it will merge the business with its own subsidiary, but vodafone has warned there's no certainty any deal will be agreed. keep in mind vodafone has been looking to streamline its own operations. it had been approached by a french group to buy the italian business. it's come down by roughly 1%. fungible saying in a note the conversation creates substantial cost synergy potential and should support market repair midterm. now, let's switch gears and tell you about all of these earnings we had out in europe this morning. a lot of them, alcon has gone up

higher to 21.5% in the current year and an eps to three to three years, ten. fourth quarter revenue came in in line with expectations. take a look at shares of alcon up by almost 6% and analysts saying the margin outlook, this is really what is giving the stock a boost today. of course, we will bring in an interview with the ceo. his name is david endicott. that will be given to you tomorrow. let's take a look at reckitt beckiser. the company posting a pretax profit of 2.4 billion pounds for a full year, down from 3 billion pounds a year ago. revenue came in higher than in 2022, but weaker than expected

and really it was the decline of the cold and flu season. the stock hit its lowest since 2020. now, let's stay in the uk. the uk house builder taylor wimpey says it will build fewer homes amid continued weakness in that sector. it noted a probe by the uk's competition watchdog into it and seven of its peers in the sector and offered its full cooperation. shares off by a little more than 3.5%. now, just eat takeaway has adjusted its outlook for 2024. apparently the british and irish businesses are doing very well. the food company now sees a nearly 40% jump ahead of analysts' expectations. shares off by almost 5%.

let's move to switzerland. hol holcim reports a record results in 2023. it is the firm's first set of results since its plan to spin off its north american business. the ceo of the company told cnbc this morning that the company performed well in europe despite wider macroeconomic difficulties. >> it softened up, but we cover our value and low sustainable solutions. we made the biggest pollutions or biggest increase was in europe last year. >> now, annette spoke sclutively with the executive board member and asked about the state of

play in europe. >> europe is being challenged right now both politically but also economically when we look at the growth rates of the continent, but it also creates a sense of urgency and a need for action, which i think has a positive momentum to it. so i'm positive we'll come out of this crisis in a better way. >> let's talk a bit about the economic angle because clearly you have a lot of oversight on what happens on the markets. for all of the transformation, being the climate transformation, there needs to be a lot of investments, so how attractive is europe. how do you see money flows coming from elsewhere to europe? >> actually right now we have extraordinary market conditions. we're at record-highs in equity markets. we had a fourth day in a row with a closed record-high. at the same time, volumes are

low and also volatility is at record lows. so the israeli is running on low ground right now, and clearly with the economic outlooks, investors are overweight. europe right now with the prospects. at the same time if we look at the p.e. ratios, they're quite attractive. we see good grow, and on people's minds, of course, if we see our clients with balance sheet and collective sheet efficiencies, it's traditionally strong with a broad range of products we can offer them. i want to draw your attention to what's happening in the china markets. in the final hour of trade we've seen some weakness come through. the hang seng finished. but the heng sheng com seeing it

off by 3.1%. property stocks seeing final trade after the city's financer looked at boosting the economy. he now expects growth of between 2.5% and 3.5% this year. emily tan has more on today's budget announcement. >> hong kong property stocks get a shot in the arm after tightening measures that have been in place for decades. known locally as spicy measures, they're all gone now effective i immediately. chan said they would go on and prop up the stockmarket and liquidity with plans to boost tourism. in monthly fireworks, a

drone show is being put together to energize everybody. the forecast for the current calendar year is for growth between 2.5% and 3.5%. meanwhile the latest in the property crisis, the country garden has been served with a cou countrywide petition. this is to do with nonpayment of a term loan facility between the petitioner and the company amounting to 1.6 billion hong kong dollar. a hearing date has been set for may 17th. country garden is seeking measures to resolutely oppose the petition. i'm emily tan reporting from hong kong. the hand joer we got from the trading session was very, very weak and mixed performance when it came to the u.s. stockmarkets. let's take a look roughly one hour into the trading session.

we're seeing a little bit of a pullback. no massive move. obviously the investors are waiting for the inflation numbers out of the u.s. to make some bigger bets, everyone pretty much staying on the sidelines and maybe locking in profits aft the phenomenal run we've seen over the past couple of weeks here. given that, the stocks are at the 600 levels. the dax once again hitting a record-high in yesterday's trading session. let me show you the european markets one by one. at the top of the show, we went through all of the m & a action, swisscom going through its plans. smi up by 0.3%. the cac 40 is holding onto the flat line. when it comes to the sector view, this is the picture. talco, there you go, maybe that's the m & a play.

a autos up. banks not doing too badly. retail and household goods coming under a little bit of pressure. coming up on the show, we'll be crossing over to the team live on the ground in barcelona with a special interview with qualcomm ceo crist llano eamon. stay with us. we'll be right back.

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welcome back to the show. asm international has forecast weaker than expected revenue of f 600 to 640 million euros in the first and second quarters. they saw fourth quarter rise boosted by sustained demand in china. but revenue was still slow on weak recovery and global chip demand. and to mobile world in congress, karen caught up with the cisco ceo chuck roberts and asked about the conductor ai chips. >> these early training models are intensive. we'll get through that and then

we'll see more euro patterns. we'll be released compute power from the players and models on site. that's what we're working on with nvidia. and you'll see amd coming to the game and intel. when the ball starts picking up, it will be a little less frenzying than it is today. >> and karen and arjun join us once again from barcelona with a very special guest. karen. >> let me just pick up here. we've got a special guest, cristiano eamon, the ceo of kwal clom. let me ask you. we've got everything on ai. ai on p.c., ai on phones. what does it mean? >> this is ai revolution as ai

is happening everywhere. it's not only happening at data centers but on phones. the exciting thing is how fast this is all happening. we launched an ai hub. there's over 75 models for image, for audio, for voice, and developers can start adding to their app, pushing to the app store. i think we're starting to see really the ai revolution happening mobile right now. >> ai on the phone, we haven't had a lot of innovation in phones for years. it pretty much looks the same. we've had a few upgrades here and there, battery life. are we on the potential for something? >> i think we are o the cusp of an ai revolution and to bring excitement so people want to have an ai phone. i think that's what we're betting.

we're betting it's going to create a new cycle in this industry. you started to see some very compelling use cases. for example, like i like on the galaxy 2024, you can call somebody and speak in your language and they hear in a different language. that's just one of many. the second part of your question. it's really hard to predict how the mobile is going to shape, whether there are going to be new players, they're going to change their position. we like what we're doing with android and google, but we like the most that ai really changed how you think about the platforms. applications and new use cases are coming in, and they become much more relevant. for example, we're working with deutsche telecom to make an announcement in a new ai phone and they project in a few years it's not going to be about apps anymore. it's going go about assistance for everything and that could

change the mobile industry. we'll see who the winners and losers are going to be. >> in reality right now, yes, we've got the chip sets to be able do that. but one thing that's lacking right now is the apps. the other demos is using sort of a cloud-based approach on ai devices. cristiano, in terms of going forward, when do you start to see the mass scale of one device hitting smartphones? >> look, that's a great question because we started to see with the new phones being launched at the show, you're starting to see some of the use cases done by the oems or platform providers, but the exciting thing is what developers are going to be able to do. that's why the announcement of qualcomm on the ai hub is so relevant because what we really did on the launch on the show is we got every model available out there accessible to developers,

and they can start writing. they can start testing with devices in the cloud. push it to the apps and to the device, and i think we're at the beginning to see what developers can do. when you add the developers in addition to the oem, we know what happens. that's why you have so many apps in the app store, and i think that's the opportunity. >> karen started the conversationing on devices everywhere. of course, cris, you tried to put it on phones and elsewhere. i want to talked the mix read alt. the apple phone has made big waves of bringing the idea of mixed reality to the mass market. does the vision grow in your view and in your view move the needle in terms of bringing mix read alt? it hasn't really taken off the way people had thought. >> the way we think about this, and i think we always bet on this merger. we like the fact that glasses

are going to complement your phone. we started investing early. the excitement is even when apple launched the vision prois to send a message to developers that's the future. the more devices out there, more developers see there's a base worth investing in creating content. you saw for example the new quest 3 we did with men ta. mark zuckerberg did a review. i think we're starting to see the first starting to take off. you'll see a number of device factors in our booth. it's going to be a great opportunity and be augmented by ai as well. >> with ai, it takes on a whole new significance, ai crunching the data that's been crunching the age on some of these devices. what have you learned? how is it going to change your universe? >> there's two pieces of that. the importance of the edge is

certain things it has the ability to preserve privacy and security because it happens on the device. i think the other thing is the element of personalization. the difference between the edge and the clouds, when you do a query on the model from your phone or from your car, from your computer, they know at the edge exactly where you are, what you're doing, what are the other things that are relevant to you, and that's much more precise, especially how to get the most of ai. that's how it compliments the cloud. that's the existence of the data on the edge. >> we've been watching it through the nvidia story, the huge appetite for gpus. in the future we're talking about infancy. you've got another chip in the race, the npu. it feels like you're pressing

the action sem rater button in terms of fast forwarding some of the applications. talk us through what you're going to see in the ordering cycle, how uneven it's going to be in the coming years, and how investigators are going to navigate that. >> so stepping back, when you think about ai, you have this new computing engine that you needed to do accelerated computing, and if you want to do those things in devices that are very power-sensitive, if they have a battery power device, including an ev car, you want to have a separate engine that's very efficient. also the cpu and epu have other jobs to do. while you have other platforms, the npu is dedicated to the engine. what we have seen in our chips over generation, one of the fastest growing silicon area is the npu. and some of the iesp we're seeig

is about ai. we're starting to see more and more need for silicon and more enabled by the ai cases. >> cristiano, very hard to talk about the chip cycle without talking about china. as you're creating these more advanced chips that are able to process some of these ai capabilities on the device, are you concerned about the concerns and under any of the export bans to china? >> this is an evolving landscape. i think we are very fortunate to date. we have not been rejected. it's natural, i think, for my conductor companies. if you have a leadership position in a particular technology, you're going to have a big business, and china is

just a function of gdp. we have been very focused on phones, computers, tablets, cars, industrial, and to this point, we have not been restricted of being able to sell our products in china. >> what about the longer term view of china? there have been reports that they've been able to produce the chips if the domestic industry is being able to produce some of this now. how does that bode for your future in china over the long term? >> maybe a little bit different situation for qualcomm. i think we have always in the marketplace competed with different nations, with semiconductors. we're really focused on the leading edge of innovation. i think when you see some of those chips in it, we're working onlhree nano meter to two

nanometer. >> let me ask you about the ai hype we're seeing on the nvidia stock. meta stock up more than 40%. how much of this hype is overblown in your view? >> look, i'm going to take the glass as half full answer. i think it's inspiring. i think it shows us semiconductor companies what's possible, what's the potential. that's why we're going to continue to be focused on ai and pushing, i think, our process and capabilities, and i think that creates a lot of opportunities for the industry. >> thank you so much for joining us. we always love hearing your expertise and telling us about the latest trends and navigating the waters, thank you. >> thank you both of you. >> cristiano amon, the ceo of qualcomm. car carolin, let me send it back to you. let's get back to germany.

uniper expects profits to decline significantly in 2024. it expects a net profit of up to 1.1 billion euros down from a record 4.4 billion euros in 2023. michael, the ceo, joins us. thank you for your time. it's been a couple of turbulent years for your company. knew that we're seeing a normalization in gas and power praise, what is the priority for your company? what do investors want to see? >> i think the first thing to say -- and by the way, thanks for having me on the show -- the first thing to say last year, 2023, represented a spectacular recovery for uniper after the crisis year of 2022. we recorded an ebitda of 6.3.

we were able to hedge our exposure to russian gas that wasn't delivered, and, secondly, because we were able to trade both our power and electricity and gas positions so we delivered the outstanding level of ebit. of course, prices have continued to fall since then, and that means we will reduce our outlook for next -- or for this year, i should say. but our priority hasn't changed. our priority is to deliver green investment in uniper, to transform uniper for what is today an 80% fossilfied company to a green company. that's significant and we'll be investing to deliver that. >> that's a huge chunk of money. in terms of the green deal and what is being delivered by lawmakers in europe, are you

getting right kind of incentive, or is it simply too much regulation? >> things are moving now. for us, the most important was the so-called power plant strategy. this has been in gestation for quite some time by the german government. they've now published very recently 10 gigawatts of new capacity, hydrogen-ready plants. we're very pleased with this development. we think it represents a very significant step forward and it's part of the wider transformation of the european economy to a green future and indeed will play a key part in our strategy together. let's stick with the german government. obviously the biggest share shareholder, 99% stake here. they want to reduce that stake either way, and you want to pay back some of the buildings that you've received. can you give us a little more

clarity, visibility on the time line here? >> we know that the german government has to exit to 29% plus one share by 2028. how they do that is a decision that the federal government has to take. our job as management is to deliver firstly financially stabilized company. that we've done with the turnaround from last year. we also need to deliver a credible investment strategy to turn uniper into a financially sustainable and also an environmentally sustainable company. that's what our strategy that we announced last august will do. we're very confident we can deliver, and we've shown last year the financial recovery is already behind us. so we're confident we have the right strategy. we're confident that the equity story for uniper will be the right one, and then it's up to the government how they deliver the exit by the end of 2028. >> that equity story, will that involvedividends?

>> at some point, clearly dividends have to play a role. that's why we had an extraordinary meeting at the end of the year to put us in a position where we can at some point pay dividends. >> how comfortable would you be with the german government keeping a very significant state purely to protect your interests and the interests of the german utility sector? what state would you be comfortable with? >> that's a question you'd have to ask the german government. what i'd say is we want the unit to be a sustainable company, sustainable environmentally that can make a significant contribution to the german and european energy operation. our job in management is to make that happen. that's what we're doing. and, clearly, we would like to remain an independent company because we believe we have a unique contribution to make to the energy transformation.

but in the end, it's up to the existing shareholders to decide exactly how they want to exit the company within the constraints of the european commission ruling. >> michael, a point taken here. let's talk about the outlook for the german industry as a whole. for your the european industry we've seen de indindustrializat and energies from the industrial space. do you have a somewhat rosier outlook for what's to come in germany? >> well, we know that gas prices and electricity prices have fallen very substantially since the beginning of the crisis, and, indeed, gas prices are now back down to more or less the level they were before the crisis, which is clearly a positive for german industry in the short term. what we've now got to work on is how we decarbonize the gas and electricity supply and how we

expand the electricity supply in order to deliver an electrified economy and a carbon-free economy. what we know is when we build up our renewable energy capabilities that renewables is cheaper than conventional electricity from gas and coal. what we need, though, is flexible generation to fill in the gaps when the sun isn't shining and the wind isn't blowing, and that's exactly the contribution uniper wants to make to build up flexible generation, carbon-free generation at the right price. that's why we mustn't be closed to it. we must be open to all technologies, blue hydrogen as well as green hydrogen. that's exactly what uniper is doing. we aim to deliver decarbonization of the german and, indeed, the european economy at the lowest cost, which means we can remain an industrial powerhouse.

>> and that's exactly the visibility that german industrials need right now. thanks for your time. appreciate it. still coming up on the show, european leaders push back on comments by french president emmanuel macron that riled the kremlin. we'll have the latest next.

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hello and welcome to "street signs." i'm carolin roth and these are your headlines. vodafone trading at the top with exclusive negotiations to sell its italian unit to swisscom for 8 billion euros. we're on the cusp of an ai revolution and to bring excitement so people want to have an ai phone. that's what we're creating in

this industry. chinese equities closing sharply lower with a 4% loss. u.s. majors, meantime, looks to open in the red with a mixed close yesterday of yesterday's key inflation data due tomorrow. former ukrainian president petro poroshenko tells cnbc leaders must come together. >> with this situation without you, putin will be stronger, putin will go further because the only language putin understands is the language of strength. staying with the story, a kremlin spokesperson has warned that western troops in ukraine would make war between nato allies and russia an

inevitability rather than a likelihood. the comments came after french president emmanuel macron did not rule out putting boots on the ground. meantime european leaders distanced themselvesfrom macron's comments saying they have no plans to send troops to ukraine. the foreign minister told lawmakers the idea had been to send troops for noncombat purposes such as mine clearing. european commission president spoke earlier this morning and is expressed the importance of developing the block's defensive capacities. >> in the next week we will announce war decisions. this funding will enable us to roughly double ammunition production to over 2 million shell as year by the end of 2025. honorable members, all of this progress shows that europe has

started to grasp the urgency and the scale of the challenge that is ahead of us, but there is a lot more to do. and we need to move fast. the threat of war may not be imminent, but it is not impossible, and the risks of war should not be overblown, but they should be prepared for. >> silvia joins me around the desk. the big comment that really caught my attention here is they said they're going to be using frozen russian profits for ukraine military. that hasn't been crossed yet, has it? >> no, but we should be discussing it. we'll be debatingl it. they'll be in brussels in a short time. it seems what we're getting to

is a little more detail of what we can expect of this broader package. so indeed they're potentially looking at using those russian frozen assets to buy military equipment to send to ukraine, to support ukraine. this comment is interesting not that it's new but europeans are desperate to find new financial resources to continue their support for ukraine. and, of course, as we were discussing yesterday, this also comes off the back of the controversial comments of french president emmanuel macron suggesting they shouldn't rule out the possibility of senting nato troops to ukraine. that has comments throughout the capital with the germans being very clear they're not looking at that possibility whatsoever. having said that, if you look at what ukraine is asking at this stage, they're not asking for russian troops on the ground. they're asking for ammunition. they're asking for fighter jets, and they're very far from asking

for troops at this stage. i had the chance to speak to the former president of ukraine, mr. poroshenko, and he talked about that point, that ukraine at this stage, what it needs is am anything and air defense systems. >> this is not ohm ukraine, but the whole europe, the whole nato, the whole world, to free them. we have a stage, stage number one. ukraine surprised the ability by the ability of the armed forces it created by my team since 2014 to stop russian troops and to free ukrainian lands, which was captured here and there in the first months of the war, and it would be easier and cheaper for the whole western world to give

us the weapons and money and help us to do your job. and this war is not only about ukraine, and it's not in assistance to ukraine. this is an investment in your own security. and ukraine paid for that the biggest price, the lives of our heros. every single week i see with my own eyes the position of russian troops and the heroic ukrainian soldiers, and with that situation, we definitely need up-to-date demand for our troops because in the year 2022, it was tense and we received a delay. in the year 2023, we needed greater ware fair system and drones and we received it only in 2024.

2024 now urgently we need f-16. we don't have ammunition, we don't have tanks, we don't have drones, and we don't have at the end of the day an f-16. >> very clear, mr. poroshenko, what you need. what's your message to the european countries struggle to send more ammunition to ukraine? do you understand where they're coming from? >> first of all, i want to thank the leaders of the european nation who do their best to deliver us necessary things. yesterday i met with the whole parliamentary delegation of day mark, and i they send for suppliers all necessary things. i want to thank the president of czech republic, my good friend peter. he tried to deliver us 1 million

shells. we don't need the shells. give the money to the czech republic. he'll deliver it to us. the only thing now, the biggest military power in the world is united states, and my appeal, please demonstrate your leadership. with this situation, without you, putin will be stronger, putin go further because the only language putin understands is the language of strength. and another thing you must constantly remember. every single hour you delay the delivery of artillery shells means human lives, lives of our soldiers and lives of our leaders. it's too high, too much of a price. >> so the comments earlier this week were they should. rule out send ing troops to

ukraine. what they're asking for is fighter jets, ammunition, and more critically, carolin, is financial support from the united states. >> silvia, thanks so much for that. the german dax has hit another high for a fifth day in a row. we're not seeing a whoale lot of conviction by these markets. overall they're struggling for direction. maybe a little bit of profit-taking here and there. the xetra dax is up by 0.1%. we did have a lot of earnings on top with the likes of brreckitt. we did see a mixed session for u.s. markets. we saw nvidia snapping a three-day winning streak, in fact, and i do want to let you know the s&p 500 is seen opening

lower by 23 points. the dow jones is expected to fall by 152 and the nasdaq looking at a triple-digit decline by the tune of 107 points. worth pointing out that the russell 2000 posted its first two-day winning streak of 2024. is that a sign of the rally broadening out? we'll wait and see. a quick check of the currency markets, we're seeing the dollar strength coming through just a little bit. we're waiting for the core cpe number. 07 euro/dollar at 108.01. oneof the biggest movers is the new zealand dollar, the kiwi dollar off by 1.2% coming off the pressure after the central bank held rates steady despite expectations from some watchers. the rbi kept it at a 15-year high of 5.5% and lowered its

peak rate forecast, effectively signaling an end to its tightening cycle. still coming up on the show, president biden and former president donald trump cruise to victory in michigan's primary election as they gear up for a potential rematch in november. we'll have the latest next.

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let's talk u.s. politics. nbc news predicts democrat president joe biden and republican former president donald trump have won their respective primary elections in michigan. biden has secured over 80% of the reported votes so far, around 13% of voters have chosen the uncommitted ballot option after a campaign opposed to the president's handling of the war between israel and hamas called for a protest vote. meanwhile former president trump has secured his sixth straight victory of the fw op nomination campaign, winning around 68% of the reported vote, well ahead of his nearest rival,

nikki haley. and president biden met with top u.s. lawmakers ahead of a friday deadline to avoid a partial government shutdown as hard-line republicans in house stall spending bills. let's talk all things u.s. politics with thomas. thomas, let's talk about the candidate who's still in the race but very much struggling, nikki haley. why is she still in it? why is she not dropping out? what's the ulterior motive? >> there's a lot of head scratching going on. there are a lot of didn't possibilities. one, she's being propped up by big-time republican donors who are anti-trump. >> one of them is dropping out. >> that's true. i think as we head into super tuesday a lot of that money is going to dry up. there is some speculation that potentially she is contemplating a third f-party run, so more exposure now is always good.

and, you know, think ahead to 2028. always a possibility, although, i'm not sure if getting on trump's bad sight right now is the best way to tee herself up for that kind of run. >> when nikki haley is asked that question, why are you still in the race, she says it's clear. americans want a choice. seven out of ten americans based on a poll say they want someone outside of the two, biden or trump. does that not imply if it's not going to be both biden and trump, a large part of the electorate will be disengaged and disenchanted? she has a point here. >> she does. a lot of americans will be disappointed. this is how the primary works. it's a reality. more importantly, maybe a third-party candidate, no labels or someone else could jump into the fray. maybe not win but make a kemar

gin difference so it could really tip the scales. >> let's stay with no labels for a moment here. manchin said he wasn't going to do it. anyone else promising, propping up here? if it's not nikki haley, if it's not manchin? >> one other name who has been mentioned is andrew yang who ran as a democrat back in 2020 and also ran unsuccessfully for new york city mayor. but as of right now, no labels, we hear the name a lot, but no one's ready to commit to that ticket, so we'll just have to see. >> but the issue always is a no labels candidate, would that grab more votes or steal more votes from the democrats or republicans? and a lot of people say it would be detrimental to the democratic vote. what do you think? >> i think it would ultimately depend who it is. but most of the polling you to see suggests that most of that vote would be for people who would otherwise vote for

president joe biden. robert kennedy jr. has declared himself as an independent and has captured 10% to 15%. i think he's a real factor, not being talked about sufficiently. let's talk about national policy. biden and trump are having a bit of a showdown at the border. they're meeting at the mexican border. will it have to come down to immigration? we've talked about this on the show a lot. bide southbound not getting any credit for the economy, for the stockmarket. he's not getting any credit for the massive infrastructure spending here. will he have to get a lot tougher on immigration? >> well, you know, immigration is such an interesting issue right now because it can really cut both ways. all else equal, this is a good policy for trump to emphasize. but at the same time to the extent he has been pressuring other republicans not to get this deal done, i think biden can effectively frame him as just being an obstructionist and not really carrying about

americans but really just caring about how this fits into the campaign. so immigration is certainly going to be one key issue as we look at 2024. >> can he move the needle here with biden? and how drastic would that policy have to be? >> i think at the end of the day, policy is going to pale in comparison to personalities. we have two candidates, both of whom are running as de facto incumbents. a lot of americans have just made up their minds. i think what we're going to see is this election being a referendum on donald trump more than anything else. can americans stomach the disruptive nature that he brings to american politics. >> we still have more than 250 days until the actual election. that's a lot of time in u.s. politics especially. how do both candidates keep the voters engaged, mobilized? >> that's a great question. you know, the fact that we're ten months out, alot can happen

with the economy, x factors, et cetera. i actually don't think that engagement is going to be a huge issue as we get closer and closer and closer to the election, and both sides are going to be mobilized, talking about how high of the stakes the election is going to be. it's going to be mostly about the base, getting the base to turn out. i don't think there are a whole lot of voters who are on the fence right now. they know what they're getting. >> thomas, thank you so much for that. the director of the u.s. center for politics on ucl. that's it for today's show. i'm carolin roth. "worldwide exchange" is up next. see you tomorrow. bye-bye.

it's 5:00 a.m. at your cnbc headquarters and here is your "five@5." why two top market watchers say the win streak is likely about to get cut short. also alphabet under pressure over its gemini ai issues we'll call them. this morning the ceo is calls the missteps unacceptable, but they may not be enough for our jim cramer. his hot take is coming up. also apple taking the exit ramp when it comes to its