♪ welcome to "street signs." my name ise is arabile gumede a these are your headlines. the equities have stalled a bit with the non-farm payroll in the states as futures point a little bit lower ahead of a key week for economic data as we steam

roll ahead with the corporate earnings season. ubisoft with the gains after tencent and the family are considering a buyout. fr commerzbank warns the gern lender would lose clients and see the credit rating fall if a deal does go ahead. and crude prices rise after the best weekly gain in nearly two years as the disruption come on the first anniversary of the hamas-israel war. well, markets had started on a more positive note. that's where we saw the market tilted toward, but that's turned and things have gone left and we're down .2% in open trading

as we follow odd from the non-farm payroll bumper. it may not just be the headline, but look below the surface. you had the unemployment figure at 4.1%. key aspects that really will be focused on for the growth of the u.s. economy. remember 3% growth rate is in tact for the most part. the unemployment figure itself just 4.1% now as you are seeing it. the inflation rate coming back down to the 2% target. the question is did they need another 50-basis point cut? that has been done away within the market and the aspect of 25 basis points cut is in play. across europe, question marks if we will see another cut in play or how the market will focus in

at the moment. pretty divergent according to bob parker who we talked on to earlier today. here is the look at the markets. all in the red then. down .3% is the cac 40. you see .50% weaker out of the dax in germany. weakness in the markets. we are focusing in on the banking story with the likes of commerzbank and unicredit and ubisoft is in play, so far. we will watch if you see tensent g coming into that one. saudi arabia wealth fund is looking to get in the stock. does gaming come in focus for the short-term. here are the sector gainers and and losers. on the upside, household goods finding some uptick. we wondered if the luxury

players would maintain the stance of finding gains. so far, so good. .10% higher for the banking is to bes stocks. the rest of the market is losers. here's what they look like an hour after the market begun opening. real estate down 1.2%. even autos losing some. last week, we had focused on the auto story because deliveries seem to be working further. downgrading future prospects. it doesn't seem like the market is gaining on the back of the evs. the chinese ev story you will focus on having voted in favor of the 45% on tariffs then as well. very important to look out for that one. on the u.s. futures front, pointing a little lower then is where we are today, especially then having seen what we got last week friday because it was the non-farm payroll print that

the market had been looking toward and that's how you found gains in the market picture just on friday. why? because the nfp print smashed. the u.s. economy added 254,000 jobs in september. that is 140,000 up on the forecast of 150. it raised hopes of continued soft landing. how do you know when you get to a soft land? you don't. it just happens. you saim for a particular targe and place. the fed looking for another .50% cut with the markets pricing in a 1 in 50 chance that you could actually even hold rates where they are next monday. cnbc has been canvassing opinion this morning on what the fed may do next. let's take a listen. >> we still think they'll do 75 in the course of q4. if the unemployment rate drops again and, you know, we get

another 200,000 payrolls, the case for moving diminishes. >> you do not need jumbo rate cuts because all that is happening is the market for labor is adjusting and the manner it has to just if you're going to be cutting interest rates in the first place. >> the casegressive rate cuts, yes, modest rate cuts. 25 or 50 cuts by january or february next year. the case for 50 basis points at the next meeting doesn't exist. >> dave pierce at gps capital markets joins us in studio. dave, i appreciate the time. >> thank you. >> what did you make of the number 254? did it matter? >> yes. >> i say that because some would say the headline figure is not really important. average hourly hours, plus you have the actual gdp -- sorry,

the unemployment figure of 4.1% mattering more. 254 can be revised down at a later stage. not so important. >> that's the thing i think we've got to look at as well. there was a big movement in the market on friday. all of the indexes moved based off that number. we have seen a lot of downward revisions lately as well. it feels like the numbers have not been as accurate as they could have been. that number is important and definitely significant and it's really going to impact what the next fed meeting is going to look like. like you mentioned earlier, 50 basis point cut is definitely off the books. we have seen slowdown in the economy and again, when you see this impact, you've seen the prices of oil increase dramatically, you have seen the dollar increase in strength

dramatically which causes imbalance in the marketplace. especially here in europe, you have a double whammy. oil is priced in dollars. the price of oil has gone up. it's kind of a double hit. it's not just a u.s. story. this is a global story. >> i wonder still stateside, yes, you have the oil impact. the port strike is over and not major as one would thought. you still have the gdp print around the 3.5%. you have unemployment at 4.1% which is a steady mark. >> yes. >> much better. so, it feels like the u.s. economy is still fine. is there a key reason to wanting to cut at this point? should they hold? it looks like a 1 in 50 chance right now. >> the economy is doing great. nobody is saying the u.s. economy is not, but there are still a lot of people struggling

and, you know, especially with the idea of inflation and how much things have gone up in the last few years. >> yeah. >> you know, i've got kids and my oldest is 28 and he struggles, to just pay the rent on his apartment and stuff because it's gotten very, very expensive. it's things like that that i think are causing the underlying sentiment in the marketplace that things are not as good as they could be. although people have jobs and there's good employment, they are still struggling to make things day-to-day. >> if you want to look at weak sentiment, look at the uk. the prime minister telling you everything is a difficult decision and hard decisions to be made. that's where the get negative sentiment. i don't think the u.s. is really near negative sentiment. >> i get that. i get that. >> what happens with the bond market? let's start with equity fund. if you're seeing that growth is

okay, jobs market, yes, it's ultimately okay. where does equity go from here? short-term especially? >> they look like they're going up. we are in the election season. we have another month until the election. he ha everyone will put their best face forward. the government really is trying to, you know, make sure the economy is doing the best that it can be and we are in a situation where, like you said, things are going well. for the u.s., things are going great and for the most part, and the economy is continuing to grow. people are continuing to buy things and a lot of the countries around the world are a benefit of that because the u.s. consumer is still very strong. >> tech still leading you think? >> yeah. >> interesting. if that continues to take lead, where does the rest of the

market go? does that catch up or rates go higher? >> i think the latter one. i think it's steadily going higher. it won't catch up. it's the trickle down effect. >> this week is important. cpi. ppi. corporate earnings. a.i. spend through the roof. you still have growth on the general economy as we have been speaking about. consumer is still okay for the most part. why is there a drawdown, then, in the earnings growth expectations in these third quarter numbers? >> well, i think there's also you've got to think about as we talked about the election a little bit. there's some uncertainty there. i think there is some built in caution underlying what is going to happen in the u.s. election. if you get a -- it could go

either way on both sides, you know, people have expectations if, you know, if trump wins or harris wins, there's going to be significant differences in the way they approach the economics of the nation. there is some underlying uncertainty there that people are holding back on even though the economy is doing good itself. you have to look at the future and what might be coming up and hedge your bets. you know, i'm on the corporate side. ideal deal with a lot of corporations. i just come back from the euro conference in copenhagen. people were talking a lot from the corporate side about hedging and talking about hedging their balance sheet and try to cover their basic under lying exposures rather than the forecasting out into the future as much. it was more about current today. >> the risk adverse market then. >> yes, that's what i felt. that was the feeling in the market that i got from this

convention that everybody was talking about how do we make sure we're covered for our exposures today and then looking out into the future, where it used to be much more future led. now people are starting to say we have to make sure we're covered in case something happens like friday and we see a 2% move in the market and the currency markets are moving and the oil markets are moving. we've got to make sure we've got that covered for the next few days or month. will >> let's talk about the oil market. last week, 8% higher. >> that's a lot. >> if you are talking about hedging your bets, that's the market. it is tough because you have to factor in geopolitical into that one. how does it go in how you see the market going? >> let's say you're an airline

and you're -- you know, you'r main expense is fuel or the planes. that's the main fixed expense. you need to make sure you've got that covered out so you have your bookings covered and you are able to manage that versus what your future growth or future business is going to be. so, if you don't have that covered in the marketplace right now, you're in a bad situation. like i said, not only is the price of oil gone up, but we saw a 2% appreciation in the u.s. dollar. that puts 10%. if you have a few days in, you have a 10% change in the underlining expense structure of your business, that's a big impact. >> yeah. >> most companies just can't absorb that. >> i think we've covered a lot of ground, dave. >> yeah. >> thank you very much for joining us. dave pierce at gps capital

markets. you can find more analysis of whether the fed will be able to achieve the goldilocks scenario on cnbc's web site. the ecb will probably cut rates at the meet pging later t month given weak economic growth according to de galhau speaking to the italian newspaper. he said the economy must pay attention to the risk of overshooting the 2% target. coming up on the show, negotiations are continuing after the eu votes on the tariffs on import on chinese made evs. we'll have the latest after the break. 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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special to brad lightcap, the coo of openai today. that is happening half past three british summertime. the eu and china are set to negotiate on tariffs after the adoption of the tariffs on the chinese made evs of up to 45% on friday. chinese state media said the plan threatens to undermine decades of cooperation and dangerous climate goals. germany voted against the measure. its automakers expressed anger. the vw ceo said tariffs should be invested in the eu. and oliver blume said it is a fatal signal. we have our latest guest, rico with us.

good morning, rico. is this really a fatal signal for the european auto industry? >> it is a sign that something is change in the market. the import leavies lead to a higher price and the germany are aware of their position in china itself in terms of car sales there. they also mentioned the global competitive position within the open market and global supply chain. they are clearly weary of the adverse spiral of action reaction out of this. >> yeah, but did this create the business case then for local manufacturing in europe because it means that they are asking china to invest a little bit more in europe in order for them to maintain their competitive stance if they want to? >> yes, that will definite

happen. byd, for instance, already announced they will build cars in hungary within europe. that could be as a result of this measure. it could turn out that there will be more production in europe itself by chinese grants. >> there's clearly no cohesive nature to this. 10 voted for the tariffs and 12 abstained with germany and hungary voting against it. is this a note where europe not knowing where it stands because it fell behind the automotive development and now trying to play catch up at the expense of other players in the market. is there perhaps a deeper problem at play here? >> well, there are a lot of interests at play here. you have the german carmakers with lots of interests in china

and also the propeduction side d sales exports in europe. they very much rely on the free trade and then on the other side, you have others like stellantis, for instance, with less interests in china. they -- they are very much in favor of protection of their positions in europe and a little bit of room to maneuver in the following years to adjustment their production and product programs to catch up with the competitors out of china and also tesla. >> china will never been caught sleeping on this one, right? the rest of the world will play catch up and what will china do? is there a retaliation in play and how much of a risk is that and how concerned should we be? >> retaliation is clearly a risk. in many cases, similar to this one, there will be retaliation. they are looking into investigations on doppler radar

i products, for instance, exported to china and pork. they may impose additional levelevee s to china. it may export german cars to china. that's where they are afraid of next to the interests they already have. >> what about trying to save the ev industry? look, demand is not exactly where all these players wanted to be. i would even argue you are finding hybrid models taking up more demand than the ev, fully electric vehicles. these tariffs alone can't save europe's ev industry. how much more work needs to be done to build up demand and ensure europe has a real proper leg in the entire ev market? >> what we see is the supply

chain hasn't caught up with the front end of the ev sales. production of batteries, for ins instance, is lagging in europe. that needs to catch up with the sales of evs. that is also one of their complaints next to the infrastructure that needs to be developed to catch up with it. also, the subsidies, which is needed. fiscal support for consumers to buy evs is still very important because they're not on par yet with vehicles for many come assumers in the middle class. it needs to happen. it is still a matter of support and catching up in supply chain infrastructure. >> yeah, so, what is government's role in this? they not just put in tariffs, but create further investment in the electric vehicles industry then. is that's what needed now?

a lot more investment from governments? >> yeah, i do think there's more investment needed because we have the co2 targets for next year coming up and they're actually quite ambitious for carmakers. they are not anywhere near for any of them. they need to catch up in the ev sales anyway. they need to ramp up ev sales next year. then, they argue that profits are very marginal on evs. there is actually more support needed to make the business case attractive for them. so, yeah, i think so. there will be no more government support needed here, especially in germany where they are phased out the subsidies last year suddenlyas a result of battery costs. >> what about pricing? >> well, that's a good one.

the prices need to do down in the long run for evs, obviously. we're not there yet because of development and product ranges, but they need to adjust prices to compete with thechinese players. there's more economies of scales needed and they need to scale production and inflow of evs and therefore, it is needed that they will support con sumers to buy evs and get them going. >> rico, thank you very much. i appreciate the time. senior economist for transport logistics at ing. now, ubisoft shares reverse course after thetencent comments made by the company. more on that story next.

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my name ise is arabile gumede a these are the headlines. european markets open around the flat line. the u.s. futures have a begun to point lower. it is ahead of a key week of economic data and corporate earnings. commerzbank ceo plays down the prospect of the unicredit takeover warning the german lender could lose clients and see the credit rating fall if the deal goes ahead. and foxconn reports the third quarter record revenue with the 20% surge in demand for a.i. service. crude prices continue to rise after the best weekly gain in nearly two years as supply disruption day focus on the first anniversary of the israel-hamas war.

another look at the market an hour and a half since the market opened. you see us going down .20%. we saw some bumper moves from the asian market with the nikkei managing to push up the gains. stateside, we have seen uptick following the non-farm p payroll print. 2 254,000 jobs added to the economy. 4.1% unemployment rate. clearly, it was good news to have flowed into the market picture. then you had the gaming news with the saudi fund looking at nintendo and foxconn. then another story we will focus on in a bit is ubisoft.

one would have thought that would be a bullish tone. certainly not. the ecb is in focus across europe. you see a down beat day so far this morning. on the sector gainers and losers. household goods managing to find an earlier as well. the ftse 100 found some gains. the likes of rio tinto looking to get into the lithium space. another one to look out for and another one to look out for in the ftse 100. there are the gainers so far. as you can tell, not really much to write home about other than household goods and banks finding good upticks. retailers and food and be bever on the flat line. this is what is actually happening across that segment. you are seeing real estate losing close to 1%. technology stocks, 0.7% weaker.

so, too, the autos going down more than .50% so far. weakness in this market picture, but it is still early going an hour and a half since the market opened in europe. to the futures. it looks like we could be opening weaker there, too. we head to the earnings picture and cpi print stateside, this is what the market is looking like. shares of chinese game makers closed much higher today after the saudi arabia sovereign wealth fund said it is open to further investment in the sector. the vice chairman of the pif group said it is in favor of increasing its stakes and working more closely with the firms themselves. so, interesting story. let's stay in gaming then as well. ubisoft shares are gaining 5% at

the open. the stock closed 33% higher on friday. this came after the bloomberg report that minority shareholder tencent and the family is considering a buyout. ubisoft says it reviews its options. charlotte is joining us for more on this story. a big buy here with ubisoft and where it goes if this post purchase is coming through. >> ubisoft has been suffering through many difficulties recently. that's why it has been sending the share price down 40% this year. it had multiple profit warnings, latest one a few days ago. it had a disappointing launch to the game. "star wars" hasn't been doing as well and delaying the launch of the latest edition in november.

they pushed it back to february of 2025. there have been ongoing issues at ubisoft with production and execution issues and disruption since the pandemic. another example, the french skull and bones was delayed and it released with mixed reviews. there are questions with ubisoft. they have been under pressure with activist investigatoor wit s ceo. one of the founding brothers and charge of the company since the '80s. that activist investor calling for a change of ceo and earning urging it to go private or be sold. they have the support of around 10% of investors. fast forward to friday and this news that the family and tencent has been 10% of ubisoft and potentially taking the company

private. a again, the comments this morning from ubisoft is they review the strategy options and focused on the strategy of open world and game as a service. games are free to begin with and they have an add-on and pay off continued development. certainly an interesting development. it takes a lot of money to develop the games with the hollywood blockbusters, nfor example. they are relying on the franchises, but a lot of customers are saying there is not much new in the new of the games there. a lot of pressure on ubisoft to change strategy and that has been reflected on the share price over the past year. >> very interesting story. where exactly tencent goes from here and what this looks like. it will be very, very

interesting to kind of look at. charlotte, thank you so much for that one. we will get more on the story as time progresses. india's adani group is looking to buy the indian cement operation of heidelberg. the deal could be worth $1.2 billion. rio arcadium. rio tinto is in talks to buy u.s. lithium producer arcadium. having made a non binding takeover offer. neither company revealed any financial details. arcadium listed shares soared the most since listing in december. on to banking news now. commerzbank ceo orlopp played down the prospect of the takeover deal with unicredit saying any merger would lead to

a loss of customers and ultimately be bad for shareholders. speaking to german business daily, orloppdescribed the meeting with the unicredit boscan as nothing more than a normal meeting. the prospect of the takeover by the italian lender was not discussed. we are looking ahead to a pivotal u.s. earnings season ahead of the first major reports this week. companies in the s&p 500 are expected to report earnings growth of wait for it, 4.2% on the year and revenue growth of 4.7%. it would mark what is the fifth straight quarter of earnings growth, but it is sharply lower than the nearly 8% expected at the start of the period according to data. that's a drawdown from the initial around 8% initially anticipated. now just around the 5% mark in just a couple months time. that tells you the expectations

for this market and how people are seeing things fare weaker for the major players. the largest fall has been in the energy sector. analysts expect to see a less than 1% earnings decline at the start of the quarter, but now they project a fall of more than 20% amid lower oil prices. of course, oil prices have now ticked up. they are talking about the third quarter and that would not necessarily influence where we are with the oil price right now. on the other side, the i.t. sector leading earnings growth across the s&p 500. nvidia is expected to be the largest contributor. if it was excluded, that growth forecast would fall to just under 8%. similar story in communication services then where meta as well as alphabet. they are both expected to lead gains in the market. without those two, the sector forecast would be just over 4%.

forward guidance will be key as companies report with analysts seeing a sharp pick up in the earnings growth for the quarters ahead. this includes near 15% growth in the fourth quarter of this year. top wall street lenders are the first to report. we will hear from jpmorgan and we will hear from wells fargo on friday with citi, goldman sachs and bank of america and morgan stanley will all follow suit early next week. coming up on the show, brent posting its biggest weekly gains since january of 2023 as the region marks one year since the october 7th attacks. we'll have the latest after the break. ayun. st ted

it's our son, he is always up in our business. it's the verizon 5g home internet i got us. oh... he used to be a competitive gamer but with the higher lag, he can't keep up with his squad. so now we're his “squad”. what are kevin's plans for the fall? he's going to college. out of state, yeah. -yeah in the fall.

change of plans, i've decided to stay local. oh excellent! oh that's great! why would i ever leave this? -aw! we will do anything to get him gaming again. you and kevin need to fix this internet situation. heard my name! i swear to god, kevin! -we told you to wait in the car. everyone in my old squad has xfinity. less lag, better gaming! i'm gonna need to charge you for three people. welcome back. former president donald trump's economic plans are expected to raise the federal government

debt by twice as much of the plans of vice president kamala harris according to analysis by the non-partisan committee for responsible federal budget. trump includes tax cuts for businesses and $25 trillion in debt. harris has support for child care and higher corporate taxes are expected to add $3.5 trillion in debt over the same period. former president trump did hold a campaign rally at the site of the july attempt on his life. he said quote, we all took a bullet for america as he gave a 90-minute speech praising the city of butler and attacking former rivals. both trump and harris have been ramping up efforts to reach voters with under a month until

voting day. nbc's aaron gilchrist is traveling with the trump campaign in wisconsin. >> reporter: trump in battleground wisconsin attacking his opponent almost immediately. >> kamala is a radical and grossly incompetent vice president. >> reporter: encouraging them to take advantage of reearly votin. this after the stop in butler, pennsylvania, where the would-be assassin shot trump in the ear. >> take over, elon. >> reporter: trump and elon musk at the first rally throwing his support. today, melania in a rare video with fox news. >> i want to decide what i want to do with my body. i don't want government in my personal business. >> reporter: adding she and her husband have different beliefs.

>> he respects that and i respect that as i'm my own person. >> reporter: mean while, the democratic ticket launches a media blitz with kamala harris on the "call her daddy" podcast and responding to criticism by her not having biological children. >> families come in all shapes and forms. >> reporter: her running made, tim walz, on fox news sunday. >> i will own up when i misspeak or make a mistake. >> reporter: with 30 days until election day, harris planning a series of high impact appearances, including "60 minutes," "the view" and a town holle on univision.

that was nbc's aaron gilchrist. and crude oil prices gaining 8%. you can tell brent crude is moving significantly higher. oil prices saw wti and brent turn positive for the year as escalating tensions in the middle east prompt fears of supply disruption. opec and allies are cutting output by 5.6 million barrels per day or 5.7% of global supply all in a bid to support prices. israel carried out strikes on beirut over the weekend in the heaviest bombing after stepping up the campaign against hezbollah two weeks ago. it targeted weapons storagie facilities belonging to the iran-backed group. thousands marking one year since

hamas pulled israel killing 1,200 people and taking hundreds of hostages to gasza. there were memorials for people and demonstrators are calling for an end of israel's war on hamas. almost 42,000 people have been killed in gaza according to the ministry of health. dan joins us for a little bit more on this one. october 7th, dan, the fateful day, where we did see, of course, dozens of armed fighters, mainly from palestinian group hamas cross into israel as well as gaza and into israel from gaza, i should say for the prsurprise attack a a year on, the fighting still continues. >> reporter: indeed, arabile. a grim milestone for the region as israel marks the anniversary

of the war. the region still gripped by soaring tension and divide. it was on this day a year ago that hamas launched that brut the assault on israel with the capture of hundreds more and many more remain in captivity. what followed, of course, was a massive israeli military response that claimed over 41,000 palestinian lives and mass displacement in gaza and lebanon and an ongoing humanitarian crisis that captured the world. israel conducting the heaviest strikes on targets in lebanon. israelis bracing for the hamas attacks on israel as we see pro-palestinian supporters. throw the year, we reported on the shuttle diplomacy and

cease-fire talks all in vain. we have been reporting the consequences israel endured. we reported on the political fallout from jerusalem to washington and riyadh and abu dhabi and we reported the um p impact on the price of oil and capital markets and beyond. the bottom line, none of it is good. the war marking a milestone today and no end in sight. arabile. >> dan, thank you very much for your reporting over the last year. thanks so much, dan. tina fordham joining us. t tina, it feels no solution is in sight and further away from a resolution here. >> let's not forget that just

last week, the biden administration had expected to be announcing a three-week cease-fire agreed. diplomacy has been frantic between the sides. i think what's really missing is the will, frankly, to come to a peace agreement. that tells us a lot about conflict and the strategic calculus that's involved. >> yeah, what does that say, then, about the diplomacy? is the urgency or need or desire to get that done now? it feels as though we reached a point where it's just a case of what can each party just do to ramp things up higher and they'll take it from there. it feels all the other diplomats in the story who tried to deescalate things not successful. >> it seems not justifyingthe impetus for conflict, but it is important to understand how

combatants regard windows of opportunity. we wrote about this over the summer. we called it a danger zone summer because for the israelis with the u.s. pre-occupied with the elections in 30 days time, israel sees the ability to degrade the adversary. that's what it has been doing by the decapitation operation of the hamas leadership and, frankly, taking it as far as it thinks it can go without triggering a full-blown iran versus israel state conflict. >> that feels like a risk, not just iran, but a wider regional conflict here. how big a risk is that, then, of growing and developing? >> it's a material risk and

we've been warning about that all year. i've been saying that market participants were overly sanguine. the fact that oil supplies were not regarded as being at risk and had been behind about the conflict. it was always heading toward an escalation because neither side was really sincere about coming to the negotiating table and making the sacrifices that are required to come to an agreement. that's what brings us to where we are today, but the big one, in market terms and in geopolitical terms would be an israeli attack on the iran energy structure. that was originally behind the oil surprises spiking last week. that would be a major operations. >> tina, french president

emmanuel macron calling to end arms exports to israel. do you think his voice will be heard at all here? >> i think his point is welcomed by many in the arab world, but i don't think the u.s. is following suit by any stretch of the imagination. i think, furthermore, what israel is most likely hoping for and remember, prime minister netanyahu has seen his popularity soar on the back of the recent attacks, very audacious in nature, israel is hoping for the return of the trump administration where they would see more support from the u.s. white house. >> yeah. i wanted to then ask about the elections. at this point, for israel, like you said, the preference, you think, would definitely be toward trump and for the rest of the world, the likes of macron with regards to this situation, it seems like the favor would certainly be toward kamala

harris. >> even more to the point, iran prefers a democrat in the white house for the very simple, but important reason, it was president trump during his first term who took the united states out of the p5-plus-1 nuclear agreement. there is a lot said about that if that step helped create the conditions that we see today. iran would like to be back in that diplomatic construct and certainly u.s. taintelligence services have been on the hside of harris, where north korea is hoping for a trump outcome. that adds to the misinformation and disinformation and risk of an october surprise as we head into the u.s. elections in 30 days time.

>> those elections will have a lot of bearing of where exactly things go in that middle eastern region. tina, thank you for the time. tina fordham, the founder of fordham global insights. let's give you a look at the markets so far this morning. two hours ahead of where the market opened then. ftse closing down then. key questions out of the basic resources and minors with rio tinto looking to get into lithium. does that mean more movement? there is more down side. here is the u.s. futures picture as well. also looking down so far this morning despite the nfp number on friday. whe roerto fm here? well, still so much in play. thank you so much for joining us. that's it for "street signs." my gname is arabile gumede. "worldwide exchange" is next.

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it's 5:00 a.m. here at cnbc global headquarters. welcome to "worldwide exchange." here's your "five@5." hitting the reset button. investors looking to cpi after the blockbuster jobs report. we'll look at what it could mean for the market and what it could mean for the fed. futures are lower this morning. breaking this morning, new analysis into the spending plans for vice president kamala harris and former president trump and how it could impact the