100 for the 450 win. haiden deegan, more dominant than ever today. jett lawrence, perhaps just as good as ever, coming back from injury, but eli tomac is stirring, and we're looking forward to great racing next saturday. for the crew, it's been fun to bring it to you. see you next week in texas. '6 ♪ welcome to "street signs" everyone. i'm silvia amaro. here are the headlines this hour. wall street looks to shakeoff the s&p's worst week since 2023. geert wilders tells cnbc that europe is a monster as the

far-right party tries to navigate the relationship with the eu. >> one of the problems is you see in the european nations, parties like mine winning the elections and at the same time, you see those reelected and the policies in the european union don't change. more than 100,000 people across france take to the street to protest the appointment of the center-right minister while paris asks the eu for more time to confirm its debt plans. and apple gets set tunveil it's newest iphone and trying to take on huawei with its own launch later today. very good morning, everyone.

we start today's show looking at the action in european markets. this, however, as the main question among investors at this stage, really, is how big the cut from the fed is going to be next week. we know that this debate has dominated the market perspective this summer, indeed with investors asking whether the fed is cutting by 25 or 50 basis points next week. indeed, the latest jobs report did not provide much clarity here about how big that cut is going to be. at we start this trading week, all eyes on the cpi print due to be replleased on wednesday. when it comes to the action so far here in europe, now i've given you the background, you see the majority of the european equities are actually trading in the green. we are seeing a rebound so far into today's session after the stoxx 600 ended friday's session down by 1.5%. let me take you to the sectorial

breakdown now we have been trading for an hour or so. we see travel and leisure is the top performing sector at this stage up by 1.5%. this as we actually have seen a couple of rating upgrades within this sector this morning. when it comes to travel, also worth keeping an eye on news out of greece that they are announcing new measures to curb terrorism and this is important because this is a narrative we are seeing in other european economies. technology also rebounding this morning up by 1.5%. we are seeing in particular within the sector asmi and asml recovering and rebounding after the selloff we saw on friday. taking you to the losers with the sector breakdown. this is the picture. real estate is the worst performing sector at this part of the session down .6%.

when it comes to household goods, it is performing better at this stage, but one of the worst performers earlier in the session. we have seen a couple of banks actually announcing rating downgrades within the sector and i want to highlight this comment for you. in a note this morning, barclays notes china is weaker for longer. as a result, when they think about luxury goods, they expect growth sales under pressure. i want to take you to the main market narrative. that is, no doubt, the non-farm u.s. payrolls. they rose 142,000. they missed expect particulars of the federal reserve meeting next week. it was revised down to 148,000. when it comes to the figure, it dipped to 4.2% with the

unemployment and monthly rose 0.4%. speaking to cnbc, the chicago fed president austan goolsbee, said the fmoc needs to consider the longer-term impact of higher rates. >> if you want to set rates this tight, you only want to be that tight for as long as you have to be. if we maintain a high rate like what we've had for more than a year as inflation comes down toward 2% and the job growth starts slowing, we're going to have to start thinking about what the implications for the other side of the mandate. >> traders are pricing in a 25 basis point cut at next week's meeting following the weaker nfp data as well according to the latest figures from the cme fed watch tool. the gains have seen volatile as traders flip between 25 and 50

basis point cut. at this stage, i want to show you the u.s. figures as we open on wall street. they are suggesting a rebound today after the selloff registered on friday. in order to discuss the equity space, i'm pleased to say the head of european equity strategy from barclays is joining me in studio. >> good morning. >> i saw in the latest note, you were discussing the outlook for the u.s. economy and whether we're going to see u.s. recession. you said that the jobs report was, perhaps, going to provide a little bit more of a certainty about whether we're going to see recession or not. now that we have that figure, how are you thinking about the u.s. economy? >> well, we're still on the soft landing camp which is a fine line to walk to. on the one hand, we need to see

softness in the economy with inflation going down and cutting rate. on the other hand, we don't want to see too much weakness in the economy. it is a fine line to walk to. we got the labor information on friday and that assurance that it is slowing definitely, but not collapsing. this is a case for the fed to cut in 25 basis point camp. the fed will cut two more times this year. they will cut, but it is also data consistent with the very aggressive pace of cut because we're not in the recessionary element. >> a gradual result from the fe fed. ultimately, what does this mean for the rest of the year? >> this is the phase we see. the market has to wonder and i don't think it will give them the benefit of the doubt. last week, job market data was key, but the next one is very

important as well. we need to see some degree of resiliency in the economy as central banks are cutting rates. you have the classic phase with the first cut and typically go back up, otherwise there is no recession. add the elections and the markets struggle before the election. september is not a great month for the markets typically. there are a number of reasons why investors are waiting and see approach. volatility is low. there is some appetite for the risk here. this broad carry trade on the back end is playing with the market narrative. >> there is a lot on the table. you have the first rate cut and the u.s. election as well. even without the ecb here, what sectors are in a better position to navigate over the next couple months when you think about

european equities? >> what we have been doing is refuse to beat the portfolio where in may and june, we have been reducing that a lot. we are preparing for weaker roles and china in the background which is an issue for europe. that should benefit from lower interest rates. the utilities and real estate were overweight in the sectors now, but they will benefit from lower interest rates and capital. we have cut exposure and underweight on the consumer discretionaries and auto. we believe china will be a big drag. we have been using the weakness this tech, for example, to add to the space. we have a formidable space. we are adding back to the long-term growth like tech. >> i want to get the thoughts on the banks and autos. with the european banks, the

performance has been positive when you think about the context of the european banks as well. when the ecb is on track to cut for the second time, what is the outlook for the european banks? have they reached peak from here? >> we like the european banks. higher for longer rate will be bad for the economy and it will be bad for the asset. we need relief from the central banks. this is going to come at the expense of margins. we still like the valuation case for the banks. we have seen capital strong enough to pay for this risk around peak margins. we are still long on the banks, but if we are moving to recession outcome, it won't work forever. we have utilities and real estate to have pressure if we get the market scenario wrong. >> what about autos?

over the last week, everyone is turning, honest, to be hon of the honest with the companies not complying with the ev sales. what is the outlook here? is more pain on the horizon for the companies? >> we have been using autos as the short. it is more like a structural view on the sector which is more about the sector being a trap. i'm not sure how long we pay for the sector with the long-term risk. we have ev priced, but china competition and tougher regulation. it had a terrible few months. it might bounce on any kind of good macro data. the long-term story is very challenging. you know, we have some view that banks look cheap and should be on the higher multiple. that is not the case for the auto sector. it is the low multiple with the long-term outlook for growth and

revenue. >> i want to go back to the fed and i know your expectation is we will get a 25 basis point cut. i like to assess the risk here of a 50 basis point cut. if the fed was going to announce such a big cut at this stage, how would you interpret that? would that be seen as we need to worry about the outlook here? >> it might be the market information. we are in the 25 bps camp. cpi on wednesday will be quite important. it will not moved needle, but you may need to move cuts. i think the 50 basis point is a sign of stress from the fed and again, we will need to see the next inflation point and jobless claims. every single data matters and the market needs to see reassurance on growth to move

forward. >> you reminded me just now of all of the narratives really from the central bankers at this stage. it's all about the data. let's see what numbers we get on wednesday with the cpi. that was the head of european equity strategy at barclays. let's look at china now. the latest cpi came in lower in august rising 0.6% on the year as the cost of transport, home goods as rents declined. meanwhile, food prices posted the first positive print in over a year. ppi fell more than expected down 1.8%. speaking exclusively to cnbc, the standard charter ceo bill winter state the economic stimulus is the main focus of the market. >> our expectation is stimulus isexcessive, when i say excessive, covid and

post-crisis stimulus increases debt levels. the u.s. has not gotten off the drug although the economy is at full employment. huge budget deficits and developed economies. i think china is quite keen not to weaken. in the long run, that's a did thing. in the short run, that's uncomfortable. coming up on the show, the new french prime minister promises a tougher chance on immigration as thousands take to the streets in protest. we'll bring you the latest after this break.

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welcome back to "street signs." ev everyone. the eu nations can benefit from mutual cooperation, but at the same time, calling for change telling steve it is time for brussels to cede control. >> europe is the kind of monster. if you give it european union

and more power, they only want more and won't give it back. i believe that european union, as it started in the '50s, with the european economic corporation, is something we can all benefit from. it became more of a political union. it is too late to end it, but please let us take some of powers back to the state with immigration. all of the politicians which are really out of sync in euro, they say we want more integration and own taxation. the people don't want that. the people want their own issues to be solved. >> wilders told cnbc he believes western leaders should be cautiously supportive of ukraine's war efforts against russia and he is ultimately hoping for a resolution to the conflict. >> we have to support ukraine against the pressure of russia. the dutch as well. we have to be critical.

i ask president zelenskyy also about the corruption in his country and i talked about what was happening there. i talked about the young men from ukraine that shoot and help fight in the country. i thought about peace and what he would see as the way to achieve peace and what will this raise? you also have to ask the questions that he doesn't like. it doesn't mean that you cannot support it, but you cannot support anyone blindly without asking the difficult questions. i did that. i don't feel free. it's not really as it should be that i can tell you what he said, but i can tell you the issues i raised. it was a good discussion. it is how we should deal with it. >> do you have any idea of how peace is achieved in ukraine as well, of course, you had comments that were more

sympathetic to mr. putin as you said you adopted the government line as well? you do have an idea how this is solved? i'm struggling to see how this war ends. >> the party has to do it which is always the case and which is the case with the problems with the israelis and palestinians and now with ukraine and russia. i hope one day because there cannot be decades of war. the parties themselves and casualties on both sides is terrible. every war is terrible. i hope they will find a way. h holland will not be the country to push them at the table. i don't know. >> now, steve spoke to josef borrell and talked about the ability to take war to russia. >> i think he is right.

this is not an opinion that all my colleagues from the countries share, but i think that if ukraine is being bombed from a cyst distance that he cannot car get, he will continue bombing and there is no capacity to avoid it. the idea of not to bring the world to russia, but to target the places where russia is using to bomb ukraine. this is my personal opinion. europe has survived terrible prophecies, but the block must challenge trade with china according to paolo gentiloni. he spoke to steve over the weekend and they discussed how the current european commission performed over the last five years. >> i think we have economically

a decent outlook. we're back to growth, not in germany, but overall back to growth. we have a very -- an excellent labor market. very low unemployment. and we are back near where we reach the 2% target of inflation during next year. so, we are, of course, changing our monetary policy. this is for the bank to decide. overall, a weak growth but nothing of a terrible prophecies that we heard in the last two or three years. recession, blackouts, divergence, divisions in europe in front of the russian invasion. from this point of view, things

are okay. at the same time, the commission and the european union moved, but the world moved faster and faster and faster. so, for the new political cycle, challenges will be very, very high. >> so there were many conversations at lake como. for interviews from steve's time in italy, check out cnbc.com. the french finance ministry has asked the european commission to extend a deadline for the budget beyond september 20th. this as the new prime minister, michel barnier, works to submit a draft budget for 2025. this comes as thousands of people took to the streets in france over the weekend to protest against the appointment of the new prime minister michel barnier. of course, charlotte joins with

us more. charlotte, keep us up to speed now we have a new name for the french prime minister. what do these protests actually mean for whether this is a stable name to actually lead france over the next couple of years. >> in a way, silvia, it could show that the tough job actually really starts now. it took two months to find the name of the prime minister. it will be really difficult now for michel barnier with the protests called by the left-wing bloc. they came top in the election. of course, president macron picking him as the most central figure over polls over the weekend showing the public opinion at the moment are kind of positive on the appointment of michel barnier. there may be a narrow window there. it certainly will be difficult. on his first interview on friday, barnier said he will reach out to all sides of the political spectrum to try to

form his government. that is key for the next few days. the key deadlines are around the corner. the draft budget set to be tied up by the september 15th and the debate on the budget is supposed to start on october 1st in the national assembly. of course, they will reach out to all sides of the assembly, particularly the far-right with one criticism directed at president macron for picking michel barnier. the far-right group is the kingmakers in the situation. at the moment, the one who led the campaign for the far-right said they want to be constructive opposition and watching closely what barnier will set on the table. you have a bit of a wait-and-see. mr. barnier said he wants to be tough, but human on the immigration and trying to appease those in the national assembly. one important thing the market

is closely watching because the budget and potential cuts that the french government has to make. there is a whole calendar of ratings review coming up in october and november. all eyes on the next few weeks in france and the consensus that michel barnier can try to build. >> i would actually like to pick up on the comments that michel barnier made regarding immigration policy. because as we think about the next budget and how complicated that will be to pass through parliament, what sort of concessions will he have to make? he is making the comments on immigration policy, but what about the changes with the electoral law? how big will the con seegscessi need to be? >> certainly he wants to be tough on immigration. if you look at the manifesto he put forward when he was a candidate of his party in the election, his manifesto was tough on immigration. he said he wanted to put a referendum on immigration and freeze immigration for three

years. certainly, he will go on the line to appease the house. one thing he said on friday night, he said he doesn't want to repeal the pension reform because we know it is still a controversial moment. a lot of parties want to repeal it. he doesn't want to repeal it, but tweak it. >> that issue on the pension reform is important for investors as well. thank you, charlotte. coming up on the show, we are looking at apple. they are gearing up for a new iphone lncauh as they look to lead the mobile phone race. we'll have more after this break. direct to learn more. we thought we had planned carefully for our retirement. but we quickly realized we needed a way to supplement our income. our friend sold their policy to help pay their medical bills, and that got me thinking. maybe selling our policy could help with our retirement. i'm skeptical, so i did some research and called coventry direct. they explained life

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welcome back to "street signs." i'm silvia amaro and here are your headlines. u.s. futures track higher as wall street looks to shake off the s&p 500's worst week since 2023. and the asmi and asml surge

higher as they prepare headset launches within hours of each other. apple bets on a.i. to fight competition from joichina and huawei looking to release their own today. and people across france are looking to protest while paris asks for more time to confirm its eu debt plans. let's get a check on the european equity session. european equities have been trading for an hour and a half. the stoxx 600 is trading higher about .6%. just to give you a bit of context on friday, we saw a d

significant downward performance by 1.5% on friday and posted the worst weekly performance since the early august selloff. let's get a look at the bourses to get a look at what is happening in europe this morning. you see on the screen green across the board. the ftse 100 is trading higher by .5%. i want to take you to france which is trading up .5%. this as we are continuing to monitor what is happening in the political scene in paris. we had just discussed this with charlotte what is happening here in terms of the new appointment of the prime minister and focus, no doubt, on the next budget and whether michel barnier will get this approved in parliament and how brussels will feel about the fiscal plan this new prime minister will prepare in the coming weeks. when it comes to the different

sectors, this is the picture at this stage. looking at the top performance, we have travel and leisure the top perp forming at this stage 1.3%. we have some contributing to the positive momentum we are seeing in this part of the market. what a significant move also with the tech space up by 1.2%. a rebound in the tech space and also very important when you have in mind the selloff that happened on friday. i also want to take you to the worst performing sectors at this stage to give you a balanced view here of what is happening in european equities. real estate, the worst performer, down by almost .8%. when it comes to household goods, also significantly tracking some downward moves. down .2%. when it comes to household goods, one of the key movements this morning is the fact that some banks have also announced

rating downgrades in this space with particular focus with the outlook on the luxury names. i also want to take you to u.s. futures as we approach the open on wall street. we are seeing at this stage it is likely we will see a positive start to trading on wall street. continuing the rebound we are witnessing so far in europe. let's see what is going to happen because at this stage, we have a lot of volatility with the cpi print due on wednesday. the commerce minister says it is looking to export controls on asml equipment bringing it in line with the u.s. china accused the u.s. of coercing countries to tighten export restrictions, but the dutch minister said it was to ensure the country's safety.

the dutch party leader geert wilders spoke with steve at the lake como summit and he is looking to help counteract competition from china and the u.s. >> trade is something different than taxation or immigration or anything else. i agree. that is how the european union started. i subscribe to what you say about the threat of china. it is a huge threat. we have to face it together, but political union is something different than an economical union. europe wants to expand more and more and more and that is not what people want. >> shares are trading higher in the wake of friday's announcement the company will return to the s&p 500. eyes turning the tech world with the cupertino giant looking to reveal the iphone 16 and updates to the watch and air pod

products. we are expecting further detail on the integration of the a.i. features announced earlier this year in the new iphone models with the company hoping technology looks to consumer upgrades and triggers a boost. of course, our tech expert arjun kharpal, is joining us. just explain to us how important this event is today for apple? >> it is critical. we know iphone makes up the bulk of the revenue. they are trying to convince consumers to upgrade. the timing is interesting. a lot of iphone users are on three or four year old phones already and they expect this to drive the phone cycle and suite of a.i. products it is bringing to the apple products.

i suspect tim cook will speak a lot about those features and try to rather than talk about the a.i. read, but show users what the a.i. features are and how it will help their lives or bring the cool features in and drive the upgrade cycle. >> just a quick follow-up, arjun. when it comes to the a.i. features, is apple trying to sell a phone here on fauture promises? we don't know how the a.i. features will work on the iphone. what will motivate consumers to buy the iphone 16? >> i think a lot with the features. when you look at features from samsung, they look at photo edits and translation and things that people actually use, day-to-day things they care about with pictures and so-and-so. that, i expect apple to try to convince users these key features are new and there is

something you couldn't do before on the phone and you need the latest iphone for the features. >> let's see how the consumers react later on. stay with us, arjun. let me update you on this. huawei announced its own product event scheduled hours after the iphone 16 launch later today. the chinese phone maker will un unveil, quote, product that required five years of investing which bloomberg reports is a phone that can fold twice. according to the research adviser which is with us as well as arjun is with us as well. good morning. my first question to you is related to innovation. i would like to understand here when you think about what we're going to hear later about the new iphone, has apple reached

peak innovation? >> i think innovation is something that we can now look at behind the scenes. one can comment that hardware, but there are a lot of things happening within the component side. if you look at the silicon side and the latest news, those are the fundamental things that is already happening. there are innovations happening in camera. the short answer is innovation stops. it is there in one form or another. it has taken a backseat compared to a couple of years back in 2018 and 2019. >> tarun, good to speak with you again. set the scene for what you're expecting in terms of the number of users that could potentially upgrade or who may be ready to upgrade to the latest iphones.

>> arjun, we believe they will position these as a.i. ready iphones. that is a strong statement because your a.i. means just at minus one. that can be a big move for apple. if you look right now from the super cycle, the first super cycle came in with iphone 6 in 2016 with the screen size at that time. if you look at the second super cycle, we look at the tracker and we were on the cusp of 4g and 5g transition. there was a huge issue with the covid. the question is, is it the third super cycle?

we look at the numbers and everything. we believe it is not a super cycle for apple, but a step cycle because the entire generative a.i. and a.i. rollout will be staggered. what we are hearing is apple may not be in a rush to release all of the features at once because all of these things need time. you need to roll out in many countries and you have policies and regulations on top of it. then you need to train your models on top of it which will increase your cap ex. all of these things will take time. that's why we believe it is more of a step cycle for apple with the upgrades to iphone 16. a lot of the users say i'm going to upgrade to iphone 16 because i want my iphone to be a.i. ready as of now. >> tarun, in terms of the apple intelligence, we know how important the services business is for apple. do you think apple in the future starts charging for apple taemgs

f intelligence features? >> yes, at least likely to proceed with the question here and it needs to prove the value before it charges. we expect a period of free use which is happening. then they release for the product approach once the use cases is established. there could be a possibility of bundling this. we believe service revenue is going to have a great impact through this with apple intelligence pays off and we believe it will add 10% to 15% of revenue. services are near to midterm for apple. service is already going to be $100 billion this year which is huge. i think what we are seeing is apple is not in a rush, but this

apple intelligence, if the use cases are there and many pulling off and they are going to charge and that will add a huge bottom line to the apple revenue going forward. >> tarun, when you think about the apple intelligence might provider users with and when you think about how much google has done on this front as well, can apple actually play a leading role when it comes to a.i.? >> yes, so if you look at why we have it, if you look at the position in the a.i. industry, to unlock the monetization, we see three fundmen mm amentalfun. one is the privacy first narrative. how secure the entire a.i. picture is. the second is the voice control from silicon to software to services. the third is the kind of user

base you have. apple has exactly all these three things in place. premium user base and privacy first narrative and full stack control from silicon to software to services. they are in a much better position. in fact, i feel they are in the strongest position to take this next level and on top of that, we already know apple has been at the forefront when it comes to the ability of capturing minds and markets. they know how to play with it, basically. even though the initial use cases are very basic as compared to the google or what samsung has done or what apple is doing, one has a fundamental and use case. going forward, once we have this trained on the model, things

tare a fundamental and tying the user experience on the iphone going forward. >> tarun, no doubt an exciting day. let's see what the details are from apple today. that was tarun, the researcher and our own arjun kharpal. pedro sanchez is set to meet with xi jinping on a three-day visit to beijing too boost economic ties. this comes ahead of the key vote on membership states on duties of the import of chinese made electric vehicles. ahead of the u.s. election, deputy national security adviser for iraq and afghanistan of the united states, megan o'sullivan, told steve that harris and trump would take different approaches

to the relationship with china. >> there is a conventional wisdom that this is the one place where you have a potential similar approach of a harris administration and a second trump administration. i would, you know, beg to differ and actually that there are ways in which the two administrations would approach china that would be different and that could spin out very different jooutcomes a scenarios. yes, it's truei both administrations would come in, they would come in and bring a real wariness of the chinese tension and shape american policy going forward. i don't see any scenario and that's not the case. under the harris administration, i think the approach would be similar to what we see under president biden which is multilateral and more of an effort to work with allies and to find where there might be possibilities for cooperation with china.

a trump administration, on the other hand, would be more unilateral and combative in nature. we've already seen these policy proposals on high tariffs on chinese imports. of course, the u.s.-chinese economic relationship is the ballast of the relationship. it is what keeps the relationship from spinning out of control. if that is aggressively unde undermined, then i think we open the real possibility of the deep stably sags of the deep calibration. coming up on the show, we will take you through what we expect this week with the new iphone and plenty of political action on the agenda as the ecb gears up for what's expected to be the second rate cut this year.

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the dutch far right freedom party leader geert wilder says they should be supportive of the

war in rukraine. steve spoke with lindsey graham and asked about the war in ukraine if trump was elected and back in the white house. >> we want to end the war. what can we do to end the war not to see china invade taiwan and not make sure it was a mistake by putin. maybe a pathway to nato. here's what i think president trump wants to do. end the fighting, but he is smart enough to know how you end the war in ukraine depends how others start. >> steve spoke to meghan o'sullivan who gave her take on the u.s. energy policies. >> i've always had a little as

s teraf asterisk in my mind. it was the idea that america had a source of power that it was going to use to trwist the arms from countries around the world. in fact, it turns out it's much harder to take america's energy prowess, which is undeniable, and turn into tangible foreign actions that president trump hoped. there are a couple of ways in which it could be done. we saw that happen, but not necessarily in the trump administration. one, under president obama, we saw the record output of the time of american oil production really help president obama and others bring iran to the table with sanctions. perhaps president trump would, you know, use the opportunity of relatively well supplied oil markets and whatever increase in production he's able to get out

of american producers to put more sanctions on iran and maybe on russia, something like that. then there is the undeniable fact that american boom in natural gas production has been useful for american allies, particularly in europe, in the wake of the russian invasion of ukraine. we've got another bumper week ahead with the rate decision from the european central bank and key economic data points. of course, arabile is joining us with more. >> one thing is for sure, silvia, there's a lot of conversations then around the fed, which, of course, has dominated the agenda lately. there is another central bank in town. that's what you made note of. the ecb. they are expected to make another cut for the second time this year. that's anticipated to happen on thursday after the revised gdp data that shows the eurozone

economy grew less than expected in the second quarter adding to a slew of lackluster prints. it came on the two-year bund hovering a full percentage point off its post rate-cut high. that's going to be very important, but things may not necessarily be as cut as dry because we'll get a deluge of information across the content. the final cpi print from germany expected tomorrow. keen eyes on that one. spain's august inflation figures come across the wires on wednesday. then we get data out of france. that pricing data closes out the week. here in the uk, we get a look at the state of the labor market. we'll get that data then tomorrow and the latest gdp estimate mthen for the uk. that's anticipated to come out on wednesday. that's the same day, it must be

noted, the same day that one of the final pieces of the puzzle could slot into place for the fed. the political side cannot be ignored though. on tuesday, the first showdown with kamala harris as well as donald trump as the two candidates go head-to-head in philadelphia, silvia. >> thanks, arabile. as we approach the end of the show, we are kouncounting down the show. the s&p tumbled on friday closing out the worse week since 2023 an mmid growth concerns. the nasdaq fell more than 5% for the week as nasdaq ditched tech. in the corporate world, known as one of the top ceos in the restaurant business is taking over starbucks today. can he successfully turn around the coffee chain? shares are up 18% since his appointment was announced.

it is go time for apple as they release the latest iphone today with a.i. in focus. the doj and google trial begins today over the a.i. ad tech. it calls the court to sell its ad products. and david solomon speaks to cnbc at 6:00 p.m. today. you can see there is a rebound at the moment. european stoxx 600 is trading higher after a negative session on friday and the u.s. futures also shaping up for a rebound later on today. worth keeping an eye on trade dad consumer figures later on toy. that is it for today's show. i'm silvia amaro and "worldwide exchange" is coming up next.

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it is 5:00 a.m. here at cnbc global headquarters. welcome to "worldwide exchange." here is your "five@5." bounce back. you look at where the market could go from here. tech trouble. the sector sits in correction territory as investors turn to apple to possibly fuel a rebound. and weak results in the second largest economy. and a company in crisis an