ow? a little more-- keith morrison: more nancy. man: --little more nancy, yeah. a very good morning, everyone welcome to "street signs." i'm silvia amaro, and here are your headlines he says he'll walk away as the german lender vows to fight against a merger and the cfo will be be the next ceo. and u.s. futures also point

lower, pairing back tuesday's record close on the dow and the s&p 500. chinese talks extend their rally as the central bank cuts its medium-term lending rate and sending the you want to a six-month high a commander is killed as israel's strikes kill hundreds of people with tens of thousands displaced while israel's president says there's more to come. >> whatever it takes in our cities that's the situation we've shown our capabilities, and we have much more on the way if they will continue. a very good morning, everyone let's get a check on the action in the european eck request the

equities the stoxx 600 is just currently below the flat line, however, yesterday the benchmark ended the session up 0.6%. that was boosted by the comments and announcements by chinas of the new stimulus measures. however, if you look at it, that excitement around china is actually fading slightly on top of that, we got further announcements from china this morning announcing further sti stimulus, but that does not seem to be impressing investors for the time being not only that, we got weak economic data out of the united states so when you put all of this together, this is the picture as you look at the equity session let's also take a look at how we're trading across the european continent we havion ward pressure when it comes to the cac, down 0.3%.

it was actually the boerse that posted the biggest duanes yesterday, up 1.3% at the end of the day. that, i suggested earlier, was also related to those measures announced in china because ultimately these stimulus measures in the chinese economy were seen as a boost to some of the european luxury names. as a result, the cac benefitted from that. however, today, it's a differen picture. we heard from the ecb official earlier today saying rate cuts through at least the first half of 2025, and he foresees a level of interest rates between 2% and 3% over that period. let's also get a check on the different sectors to understand who's the best performing so far in today's session. we have travel and leisure at the top up about half of a percent followed by household

goods. we alts so saw a lot of momentui that part. let me take you to the other side of the story. it is the narrative so far there's this pressure into some of the equity names. you have oil and gas, the worst performing sector at this stage, down about 0.7%. we continue to monitor what's happening in the oil market. today we are seeing downward pressure down on the oil prices, and that's also influencing this part of the equity market. now, let me take you to banking. we have been getting lines with unicredit's ceo responding to germany's reaction to his lender's growing stake in commerzbank saying it's an investment and people should not talk about it in other terms

orcel says without other supporters, unicredit will go back on the plate. he said he would not extend his term at the end of 2025. that was after unicredit announced a 9.9% stake in the lender and more pending regulatory approvals, of course. follow-up reports suggest the board would seek his replacement sooner to shore up the leadership in the face of the italian lender's advances. annette, you've been following the story, we seem to have one new event every single day just what is the picture when you look at unicredi unicredit/commerzbank at this stage, and can that change the leadership, ultimately milwaukee a difference in unicredit's

plans? >> reporter: well, that's at lease w least what they are hoping, that they have a firm management and credit management that's going to stay, but having said that, they need a new cfo. what i'm hearing here on the ground is that her contract is getting finalized and then she'll step up in the role very, very soon to be a strong leader at the top of the bank, which, of course, needs a new strategy now because clearly that's the only defense mechanism they can do themselves is to go forward and be a strong bank and stand alone. of course, the profit situation has been improved in the last

two years, but that was mainly on the record rise and interest rates. commerzbank was always doing better when interest rates were higher, and if interest rates are now going to singer again, then the profitability also will diminish, so having just said that, so her job will actually be a really tricky one we are going to wait for regulatory approval to try to take over the increased stake for unicredit for probably up to 90 days by the european central bank, but it's not -- most likely not going to reject that deal because clearly they are at voe indicating plans i guess from that front there's

not that much resistance there's much more resistance from the trade unions. i spoke yesterday on cnbc with a man who was part of the supervisory board but also representing another about the deal, about job cuts, about what it all might mean for the bank take a listen. >> translator: no, i don't think that would change anything we're actually concerned with our economic and industrial responsibilities as far as the work force is concerned, which trade unions are, of course, particularly focused on, they would always lose out in the merger, regardless of the point in time. that's also a great concern when we look at munich where the most competent seats have migrated to milan and the once proud bank has become a limited liability company. i find this is a humiliation for the employees there who do a very, very good job and are committed to working for the institute and its customers, and we certainly want to avoid that

for commerzbank. >> reporter: the key question is what the regulator will do, and here i also spoke with a shareholder adviser who has a boutique firm here in frankfort and also working for another adviser. he has a very disparate view on the ecb and the regulatory path. take a listen. >> we're proposing a european banking landscape, and also in germany, we're a proponent of strong european banks that have good capital base and are managed well if we mean this seriously, i think we need to accept that european consolidation also means that a german bank becomes the acquired party in such a consolidation. >> reporter: so for now i think the biggest action is in the

past we have to wait, as i said, for the regulator to voice their opinion, and afterward, we could also see or sell even increasing its stake because they have enough money also to increase the commerzbank much further given the current share price level and given that most likely commerzbank management will not come up with a super plan because the key question is why haven't they done so in the past years because also she was already at the bank for many years. so i guess this story will continue for at least another three to five to six months until we have clarity. >> all right thank you for the reporting, annette. and speaking of banking, charlotte is joining us live from the annual bank ofamerica financial ceo conference charlotte, we just heard from annette what's happening with

the commerzbank, lines this morning crossing from the conference where you orr at from the unicredit ceo, suggesting that they can walk away from commerzbank fw there's no conditions for a deal really how common are these remarks of further seeing stable consolidation in europe? >> reporter: certainly banking consolidation is at the heart of all conversation here. up until now there was conversation about a big banking takeover it's still quite a problematic and complicated one, but they insist it's good for the economy and the consolidation of europe to make a case again for europe and being competitive on the continent, and that was in essence the message we got

they received a green light just a couple of weeks ago. it's still a very long process there. now, they're confident that we get the approval, and, again, when i caught up with them, they said they won't increase the offer. >> we don't have the necessity nor the need nor the intention to increase the price. we do think it's a very attractive offer on the date of april 29th, which is the undisturbed price, it was 30% premium the day before and 50% average before that date 50% premium, as you compare this number to other transactions you see out there, it's a very healthy premium. is we look at cash flow and earnings per share improvement

which drives the improvements per share. it would be 27%. 27% based on consensus, independent consensus figures. so the cash flow improvement is amazing. that's why we don't have the necessity or intention to increase the price. >> the spanish government is not happy with this. a merger can go ahead, so what would that mean for 850 million euro synergies would you go ahead with a takeover if a merger is not possible >> we see that scenario to be very unlikely. as i mentioned to you, there are three stages to this, the tender stage and then the merger stage. the spanish government kicks in in the third stage, so after we have more than 50% of sabadell, after we have all the authorizations in the first stage, then in the third stage, the spanish government can decide not to approve the merger, but we do see that as a

very unlikely scenario because we do think this is good for spain. good for spain we are giving the same numbers all the time, but this gives an additional 5 billion euro to the spanish economy. we are looking for scale european banks, spanish banks, we need to look for scale because our costs are increasing especially in the technology space, which is big. if you're not large, you would not be able to compete globally. >> that was the ceo of bbva making the case once again for a takeover of smaller domestic rival sabadell so they have to go through the process of getting approvals from the different watchdogs, and then finally, of course, we'll have to convince the shareholders of sbadell. so that's the next step. certainly they're watching what's happening with unicredit and commerzbank.

all this is important for the banking consolidation. what happens next? we see domestically it is complicated. so all of this is happening, all of this conversation, at this conference here. we'll bring you another interview a little later on with a ceo, talking cousually about banking in europe. let's look at monetary policy in sweden, they've cut interest rates by 25 basis points to 3.25%. this is the third time it has reduced borrowing costs this year the central bank says it could cut rates two more times this year if the outlook for inflation and economic activity remains unchanged. let me take you to some of the corporate stories we're monitoring this morning. the british company rightmove has rejected a third rea offer

rupert murdoch is the latest, valuing the company at $8.1 billion. i want to take you to some more flashes we're getting this morning. in terms of negotiations with the union volkswagen, the eun workers, they say what management has presented in the past few days is beyond relief for decades, basis for success was no mass closures and mass redundancies, and that must remain so. workers still very much disappointed with the outlook, the plans for vw the negotiator also said all plans must stay open today is just a start if management does not change course now, it's clear vw faces challenges mistakes are the responsibility of top management and we need

job security beyond 2030 so the negotiator for vw workers, clearly disappointed with conversations, with the management team, blaming them, really, for the challenges that the company is facing and therefore asking for job security for all of the workers. this, of course, as we're monitoring pressures not just within vw, but the overall auto sector as they scale back their ev plans significantly so let's see what we'll get from vw later on. for the time being basically, no agreement with the workers. coming up on the show, china central bank cuts its medium 'lbrg u e. wel inyothe latest from the world's second largest economy after this break lemons r way. cirkul is yourmons r frosted treat with a sweet kick of confidence. cirkul is the effortless energy that gets you in the zone. cirkul, available at walmart and drinkcirkul.com.

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welcome back to the show let's look at the latest announcements from china they've cut their rate from 2% to 2.3% while lending 300

billion yuan to financial institutions the move follows a series of policy-easing measures announced on tuesday, including a cut to mine china's policy rate he doesn't expect to see a recovers china until the fict half of next year. thomas said he's waiting to see the impact. >> there, we need to wait for facts. it's promising a silver lining that can set the pace for new momentum, but we need to assess what opportunities we have, especially when they're going to materialize. particularly there's some lead time before that's getting tangible new orders. until then we stay alert it's making a bit of progress. so the lead time, the days on hand, so to speak, on the stock

levels has been coming down a bit from 14.5% to 11%, but the sellout from the channel is still sporadic, so, therefore, we stay alert, and mathematically, if we just take the numbers, destocking is going to take until february or march of next year. >> so until we see a real recovery and demand, this will be the first quarter of next year >> probably the first two, yeah. but there's a lot of uncertainty around it at the moment. the real trigger for momentum is when the so-called book-to-bill kicks in we have the breadth to wait, but we also need to be mindful in between. let's look at the effectiveness or lack of it from the measures announced from china with the global chief strategist at hsbc asset management joe, good to see you thanks for being in the studio with us.

i'd like to understand what are your feelings on the outlook for china, now that we've had these easing measures. they provided a significant boost yesterday, today, not so much are you on the camp it's bullish on chinese equities? >> i think in the short term it's a big boost to market sentiments and collective psychology around the china outlook. what we saw yesterday announced was a really bold and comprehensive set of measures, looking at three key areas around monetary policy as you mentioned, looking at the property sector, and also some developments around capital markets is around the idea that could be the stabilization fund that could be d deeveloped maybe the most interesting part of the announcement yesterday was the suggestion, the hint that we're going to see further easing as needed that came through quite clearly from the people's bank governor, and it was discussed a lot among

analysts and the press also in the last 24 hours, so i think we've reached a point now where the policy support is coming through a little bit more, but developments that we're seeing, particularly in the property sector, quite important, especially on destocking that's been a big issue. there's still a big challenge around the amount of savings, the precaution iowa savings and the low confidence in the chinese policy a good start we'd like to see more fiscal support and stimulus to come as well, and i think that's going to be required to see a sustained recovery in the chinese stockmarket. but in the near term, big boost to short-term sentiment as i mentioned. >> basically you're highlighting there's a bit of a promise to do more, but we don't have the details. how do you trade that? what does that mean from a market perspective >> well, i mean that's often th case when we're dealing with uncertainty in terms of the

economic outlook and in terms of the policy yacht look. one important development for china but also for the rest of the merging market has been what we've seen in the united states of course. the recalibration of policy as mr. powell told us, the movement of the dollar and yields that provides the markets a little more wiggle room to support their own economies, to support their domestic activity in their own economies we can also look at the messaging of people's bank of china, talking about further policy support that's important too maybe the most important key investment is there's a significant discount of the chinese market relative to global stockmarkets and european

china typically trades cheap any good news is doubly good news it's important to separate the distinction around how the economy is going and how that policy and support and stimulus is going to support economic activity over time, which is an interesting open question. too soon to say. we'll have to watch the data closely and separate that from the observation of what it can do to animal experience and investments in the stockmarket, particularly at a point in time when the stockmarket is significant. >> let me ask you on the other side of the story. you were highlighting what we got from the fed last week also this provided a little bit more certainty about what to expect from the fed, but as a result, i've been seeing a couple of comments suggesting that this is the moment to buy when it comes to any sort of dip for the s&p 500. when you think about the messaging from the fed thus far,

what's your outlook for the s&p 500 in the next three months before the end of the year >> yeah. that's a great question. what we have seen from the fed is a recalibration of the policy that was a big buzz work last week that was an important one for the investors to suggest it suggests we're not going to see dramatic easing. we think interest rates are going to move back toward more normal levels by this time next year that would be 3 1/2%, around that level difficult to be certain. that means that, you know, the strategy here is to deliver a soft or softish economic landing. now, as regards the equity market, that sort of backdrop, economic backdrop, is a positive one for many of the laggard value sectors, the smaller cap sectors, which have struggled in the rally. maybe we should think about the

493 laggard stocks outside of the so-called big cap magnificent 7. maybe another idea is to be a little bit more disconcerning around the performance of those big, big cap tech names. it could be we see a bigger amount of dispersion. >> interesting in your notes i notice you're expecting further uncertainty. when i read that, i thought, well, we've had so much uncertainty this year. we had so many elections, we didn't know what the fed was going to do. how come and why are you expecting uncertainty for the rest of the year where is it going to come from >> it seems to be a feature rather than a back of the system, doesn't it we've had an election extravaganza this year, so much going on some of them were big surprises, so it's been difficult for

investors, but so far, we've had all of the volatility very concentrated in the interest rate markets actually for the currency investors and others, it's been surprisingly low. >> where is it going to be >> it's going to be squeezed ou of the market. there's a little bit clarity on what comes next. the global easing cycle is being supported and catalyzed by what the fed has done and we think it moves into more risk asset markets particularly with the u.s. election around the corner and particularly with this credit market where we see a lot of sensitivity to data releases, particularly the data releases, that creates a hypersensitivity as i call it, in terms of how stockmarkets might respond to short-term data. we think the journey makes for

expectations. >> thank you for your thoughts this morning that was joe little, global chief analyst. coming up on the show, the prime minister looks to reset the narrative amid a few bruising months. we'll take you to his conference after this break the next level. cirkul is what you hope for when life tosses lemons your way. cirkul, available at walmart and drinkcirkul.com.

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welcome back to "street signs. i'm silvia amaro here are your headlines. unicredit's boss says he'll walk away as the german lender vows to fight against a merger and aflounces cfo bettina orlopp will be the next ceo. and a tuesday close on the dow and the s&p 500. china is adding a slew of stimulus measures and sending

the yuan to a six-month high. the israeli president tells cnbc there's more to come. >> we will do whatever it takes to bring our citizens back home and enable calm in our cities. that's the situation we've shown our capabilities and we have much more on the way if they continue. time now for uk politics the prime minister keir starmer told the labour party conference that the government is only getting started as he seeks to reset the political conversation, giving a speech heavy on rhetoric but light on policy starmer's popularity has sunk below rishi sunak whose labour

party beat one of the most exciting elections in u.s. history just over 80 days ago. >> what will people get to show for it they will get their country back, renewed by service, confident in its values and story because together we took action. >> people said we couldn't change the party, but we did people said we worked with a cross britain, but we did. people say we can't deliver national renewal, but we can and we will. we will stable our economy, draw out the torrey rot, built with

respect, built with pride, because together we've shown that britain belongs to you. >> now, arabile joins us with more you traveled all the way to liverpool. i want to understand we didn't get much detail from the prime minister himself, but obviously you were on the ground and had a chance to speak to some labour officials. did they give you any details what to expect from the policy >> the weird thing is it was meant to be a celebration of the party because they're now ruling across the uk. keir starmer is now the prime minister you, of course, have rachel reeves taking over at number 11 as well. it ended up being, still, about the situations they face politically, which have been about the gifts they've been getting and also about a lack of understanding where policy is going to go because rachel reeves doesn't want to give out too much before the budget

you have the summit coming through on october 14th and the budget on october 15th so much is actually still set to happen so they were unable to give clear detail so they'll repeat the same notions they've had for the longest time income tax won't be raised they won't raise national yet. they're going to crack down on tax avoidance and tax evasion. then they're going to possibly raise cgt. here's the question mark if you're going to raise cgt, how do you expect investors to make that investment into the country then, right? it's all these factors that perhaps they're still worried about. they might change a few rules as well to make sure they're able to get more debt or get more income as well for the party and obviously for the country as

well and how they're able to do that is ultimately try and put in a few laws that will ultimately change the definition of debt ultimately as well it's all these things that have been put forward just as you played out with this heartstring you played out with there, keir starmer is speaking out about the things they still can do it still feels like they're on the campaign trail they're still saying what they can do and will do. >> i would also like to understand what was the feeling on the ground in terms of the popularity of the prime minister as i just mentioned, they have been in power just for a couple of months. ultimately it seems the key measure we got from the government this month in terms of the fuel payments, it's having massive repercussions on the popularity of the prime minister did you feel any sort of, you know, concern, resentment, anything from labor officials? >> nobody gave a clear sense of

saying that is a great leader, that is the leader we're going to rally behind. it felt as though -- and really significantly so if rachel reeves had not spoken in this conference, one wonders wherever anyone would have listened to what was being said at the conference at all it felt as though rachel reeves' conversation was one that was important. keir starmer is going to probably struggle a bit. the same leadership who said we're not going to be like the torrey parties has immediately gone on to be like them in some ways because of the scandals that have plagued them as well, plus he's got votes against him as well when they said they're not taking on a 5.5% increase in their salaries plus there's a vote today by unite and the united workers union to try to push the leadership to abandon proposed tariffs when it comes to fuel allowance. so if that happens, it may just be symbolic, but it's still

going to be a clear sense that the leadership is going to begin to lose just a little bit of favoritism, shall we say, from the remainder of the party. >> the difference is they have this huge majority let's see what they have in the coming months. coming up on the show, u.s. president joe biden warns the world is at an inflection point h u.n. general assembly address. we'll recap his comments after this break kul is your frosted treat with a sweet kick of confidence. cirkul is the effortless energy that gets you in the zone. cirkul, available at walmart and drinkcirkul.com. shopify's point of sale system helps you sell at every stage of your business. with fast and secure payment. card readers you can rely on. and one place to manage it all. whatever the stage, businesses that grow grow with shopify. at betmgm, everyone gets a welcome offer. so whether you're courtside trying to hit the over... or up here trying to hit the under. whew!

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welcome back to "street signs. charlotte is back with us from the bank of america financials conference with a special guest. over to you, charlotte. >> reporter: indeed. the special guest, silvia, the ceo. thanks so much for joining us here this morning. let's talk about your most recent news. you had exclusive talks talking about 1.5 euro trillion in assets tell us why you decided to make that move and what you hope to

do if the sale goes through? >> for your the last 25 years we have been quite successful if you look around us, asset management has become a scale game, and we're not big enough in the areas we need to be big enough with. we need to partner with a historic partner of ours to create something we need something bigger and go into a long-term partnership with them and this is the reason we have entered into that discussion with them. >> you have around 8.3 billion euros in proceeds. you talk about the targets is that the kind of targets we're looking for or maybe something a little bigger? >> we've announced a large part will go on because we have a

dilution of earnings that will be compensated if you look after the sale of xim, axa is entirely focused on insurance, so we have a couple of markets in which we want to grow a bit more. and so when you take the novice acquisition in italy as an example of this, i would imagine a couple others like this. but you have to find the right target. >> i read some comments of yours that you want to reinforce your geoffs, also japan. >> our aim is -- over the last eight years, we have really made sure we have reduced the geography complexity we have

we have more and more regulation we have reduced and focused our footprint into the areas where we have sufficient scale, and in the geoffs graphies where we co be a bit bigger, we look at europe and japan. >> you announced earlier this year about kmeshlg busicommercil businesses that's different from the previous three years where you were focusing more on health insurances tell us why you see opportunities in that area in particular. >> so, i mean, the mid market is one of the gross initiatives the other is health. we are continuing the journey. let's go back to mid markets essentially mid markets is important for us because we have excel which is looking at the

larger accounts and you have the larger entities in europe that have a good implantation into the countries. but when you looked a mid markets or companies with a thousand employees or much, we are not serving them as much as we serve the smaller companies, and so we said with the combination of good underwriting expertise to excel, and the implantation in the countries, we can do more so this is what we have started two years ago with a lot of success so far. >> so looking at health insurance, we see record numbers of people signing up for private health, insurance in particular that we see in the public system so that can provide an opportunity, i assume, for a company like yours at the same time this could cause medical prices spiralling. so how do you use this opportunity, and at the same time keep corporate clients, for

example, keep them growing with all the demand growing. >> you have essentially two big opportunities. one is through corpovid. they're very interested in the well being of their employees, so there's a lot of demand there, and since we're very, very positioned as the largest insurer, that's a good opportunity. secondly, you're absolutely right. the difficulties in many state systems, you mentioned nhs i think that's where it's most prominent drives people into the private sector, and so we see these demand patterns. it's absolutely right that medical inflation is high and we need to obviously take this into account. we have to because insurance is a trust business because i'm promising to you i will pay your claim when it's your turn. if the financial balance is not justified, i cannot keep my promise. so we need to make sure that the

pricing fees reflect it. nevertheless, when you look today, prevention is a way of helping to keep costs down so instead of waiting until you have the illness or waiting until the operation is due or the chronic disease has arrived, let's work together on avoiding it and i think you'll see in general not only in health but also in other insurance, our business is moving much more into prevention, helping individuals, helping companies to avoid the claim. >> thank you so much for your time with this, i send it back over to you. >> thank you for the coverage, charlotte. plenty to cover. now, hezbollah confirmed one of its senior commanders was killed in a strike in beirut on tuesday. the country's health minister says more than 560 people have been killed in israeli strikes since monday

meanwhile the uk has moved hundreds of troops and urged its citizens to leave lebanon. israeli president told cnbc israel wants a peaceful future with lebanon. >> let's not be mistaken here. the attacks started by hezbollah following the horrific attack of october 7th by hamas they've joined forces as they're proxies of the iranian empire. and all of these proxies are trying to close in on israel from all sides of our borders. that's the real situation. now, hezbollah's been going on and on it's a terrorist army, which basically hijacked the nation called lebanon we tell the lebanese people we have no war with them, that we care for them, that we want to enable a peaceful future between

us and lebanon it should have come a long time ago. >> members of the government have called to reoccupy southern lebanon. is that also part of the end goal here? >> no. it's not i must say, clearly, you know, we're a very vibrant democracy, and we have a range of opinions that go from the extreme right to the extreme left. everybody's allowed to say what they feel. this is the true gist of democracy. so people say, but the position of the israeli government has been clear, and i reiterate it all the time we don't have territorial expectations or any ambitions in lebanon or elsewhere we only have t-- we don't have i in hezbollah either. we want to live in quiet

>> and as we head toward the end of the show, here are the four things to know ahead of the open on wall street on the data front, we'll see new home sales figures out at 3:00 p.m. british summertime. in terms of earnings, the calendar is thin, but micron will be reporting numbers when a time that citi estimates 80% of investors are bearish on the stock. democratic presidential nominee kamala harris is set to deliver remark on the economy in pennsylvania later today. and the ukrainian president, volodymyr zelenskyy, will address world leaders at the united nations general assembly. and speaking of which, world leaders are gathered in new york for what is the 79th session of the u.n. general assembly amid a backdrop of conflicts in the middle east and ukraine. they want speakers including the u.n. secretary-general and u.s.

president biden says they're urging global unity. biden renewed calls for a two-state solution. >> as we look ahead, we must also address the rise of violence against innocent palestinians on the west bank and set the conditions for a better future, including a two-state solution where the world and israel enjoy security and peace and normalize relations with all its nations, where palestine lives with security and a state of their own. nbc new's brie jackson joins us with more brie, highlight the most important message from joe biden given that this was his last speech >> good morning. so president biden really left a mark on his speech yesterday he took the world stage and addressed challenges ranging from climate change to wars

overseas the president says he still believes that peace is possible in both ukraine as well as in the middle east. now, during his speech, the president did reaffirm u.s. support for ukraine even as some lawmakers here on capitol hill have pushed back on more funding for the country. now, as we does wind down his nearly 50 years in public service after abruptly ending his reelection bid, president biden, he urged world leaders to put people over power while delivering an urgent message yesterday, calling for unity and peace. >> very clear. thank you for the reporting, brie it is, indeed, a very important message from joe biden, this is what was his last speech at the u.n. as president of the united states and amid what is a very complex geopolitical picture. let's get a check on the equity session so far in europe. european equities have been trading for almost two hours at this stage, and it is a mixed

picture when you look at the major boerses across the continent. we're seeing downward pressure in germany as well as france a little bit more of a positive momentum when it comes to the f ftse 100, but a little over the flat line. nonetheless, the main narrative seems to be that stimulus measures from china, we saw quite a bit of momentum in the equity space as a result of those measures, but today the excitement around that is fading somewhat let's also get a check on the difference sectors these are the best performing sectors at this stage. we have investors taking a little bit of a different approach health care is the best performing sector of this stage of half of a percent when it comes to the losers, the other side of this story, this is what we're looking at we are seeing pressure when it comes to technology. it is the worst performing sector, down almost 0.7% oi and gas also moving lower amid lower oil prices, and,

indeed, when it comes to all toes, also moving lower. we continue to monitor those negotiations within vw when it comes to u.s. futures, it's how we're shaping up ahead of the open on wall street it seems it could be a lower start to the trading session on wall street. however, we're pointing out that we're going to get new home sales figures. of course, investors have also been figuring out what's the message from fed officials thus far, which has been focused on future rate cuts i also want to take a brief look at the chinese tech frames we saw pressure on jd.com and baidu. this amid the pressures that officials in china have announced, however, it's failing to attract momentum for a couple of these names that's it for this show. i'm silvia amaro "worldwide exchange" is coming up next.

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it is 5:00 a.m. at cnbc global headquarters and welcome to "worldwide exchange." here's your "five@5. records at risk. investors now appearing to take some bets off the table. going nuclear, the latest on the red-hot stock sector riding the new wave heights and whether or not the rally is just getting started. red tape reckoning