that's all for this edition of "dateline." i'm craig melvin. thank you for watching. [music playing] ♪ welcome to "street signs." my name is arabile gumede and these are your headlines. surging on the return to trade from the golden week holiday, but pared away with the investors wanting just a little bit more. the u-turn in china spills

over to the european session. beijing commerce ministry imposing tariffs on the eu exports sending the drinks makers in the red. we'll get into that story. foxconn chairman hon hai tells cnbc that a.i. still has room to run. the large scale language model still has room. >> we are still at level three and four to go. and samsung issuing a rare apology after dguiding for proft below expectations in the third quarter, but the chip maker hit by higher supply from chinese rivals.

chinese equities initially surged double digits on the return to trade following the golden week holiday which is a two-year high. that rally then eased off as traders took profits in a stimulus update fell short of expectations. pretty much saw the rally a significant portion and just kind of fell to the wayside. as you can tell, qi zhen and qi yuan shenzhen fell 4% higher. the picture was more boy beyond than that at the start of trade. once you got comment from the reform commission, did not get detail with the stimulus for china and how much really is needed in the market? it went up to play catch-up trade to the last week, but couldn't push on from those gains it initially had. hang seng index showing the loss of steam.

some tech players getting hit. it does fall on from samsung, which is a big worry and something we will focus on in the show. that was the decline then. perhaps that is the team that's beginning to roll down a bit in the asian market trade. that impact flowed to the rest of europe. we have seen weakness in basic resources and luxury players getting a hit then. let's not forget we have the cause for concern with tariffs in play here. we'll get into that story in a bit. the minors across here are actually going a little bit down out of europe going down. glencore 4.3% weaker this morning. rio tinto, which said they will try to buy the third biggest lithium miner globe alley. today, taking on the chinese

sentiment down 5%. so, too, bhp group. it's still early. anglo american going down 5.7%. what does the rest of the day look like? it could get better. it could get worse. luxury players something in vain here. we have been following this the last few weeks because the demand is the stimulus put forward by chinese authorities may, perhaps, push in a little bit more stimulus whether the form of the stock market a little bit for the consumer at play. that's not happening with the likes of burberry getting hit at 6.4%. overall, another story comes to market with the chinese commerce ministry dumping measures on the brandy industry. this is a move by the eu to go ahead, of course, last week with tariffs of importis of evs.

charlotte joins us with the story. a lot seems there is conversation to be had. charlotte. >> it looked like china might be trying to find the compromise. they launched this investigation in january with brandy and french cognac and they are selling cognac more expensive in china. it is quite difficult to think that. certainly, the investigation that they were carrying on and in august, a few weeks ago, china said not to put any tariffs there. whether china was trying to find deescalation with france. fast forward with the tariffs on the chinese ev imports and now this decision by the commerce ministry putting tariffs on

brandy. interesting with the french cognac after the u.s. and we heard from the french cognac producers after the tariffs and they sacrificed in the trade and warned the french authorities abandoned them. to see the bigger picture and china opened an investigation into european pork and dairy. that could potentially be a first step of potential tariffs coming through. if you combine the value of imports of dairy, pork and brandy, it is 6 billion euro last year. the whole value of the evs in europe is 10 billion euro. you think does china have more fire power or is this the first step? could we see more tariffs? we have to wait and see. certainly, china held off until the eu put tariffs on the chinese evs. >> that is why they said these are provisional tariffs. >> i like to say in august, they were not tariffs yet.

they were waiting to see. we see all of the talks and lvmh and the brand with a lot of those drinks makers are impacted by this decision. >> let's see what happens then. maybe it is the opening conversation. we will sigh how it plays out. charlotte, thank you for that one. let's get into the world bank story. it's far away from the 5% that china put forward. it does come despite a raft of stimulus measures the last couple weeks. this is among the low consumer and investor confidence and structural challenges like geopolitics as well as an aging population. we have the chief economist for apac and china at society

general. the market has been asking how they would achieve it and the stimulus measures came through. it was at the start of the fourth quarter that was always going to be tough toachieve that 5% anyway, wasn't it? >> i think getting to the 5% is not that difficult when you think about it. they had been starting pushing up consumption and very delayed fiscal impulse that they didn't push out in the first three quarters of the year. they're not going to miss a lot. the question is more whether china can adjust the structure problem which is oversupply versus under consumption. >> is that to say that the world bank is wrong that 4.3% is too

pessimistic and china will achieve this because they will deal with the low demand st structure issue? >> if they do, then 4.3% is too low. they have announced measures, but the real measure is the fiscal package that we haven't seen yet. this morning, there was this disappointment regarding the planning agency press conference. i think expectation was just misplaced to begin with because planning agency is not fiscal authority. they're not in charge of fiscal stimulus. we don't know the answer yet. >> i suppose the market was looking for, if they're the planning agency, how exactly the economy would be going about that 5% figure. perhaps provides the detail and market maybe disappointed that

they didn't get enough detail. is that not, perhaps, the issue then? my real question to this is what exactly did china need to do in order to get more growth coming into the economy? just specific measures. >> well, that's the question, indeed. what do they need to do? they need to support household income, they need to further support liquidity and they need to address the debt problem faster so the local government supports the economy and they need to help the banks so they have more capacity to absorb the debt. of course, they also need to stabilize the housing sector. these issues. >> it really is that property sector that i would touch on. it's an ailing sector and they tried to boost and it continues to flounder. today, heavy, heavy hit for the property sector. what's the hope? what's the plan here for chinese

property? it's a long stemming problem. is it one that can be fixed ultimately long term and not necessarily now? >> well, depends on how you define fixing, right? the idea here is, you know, we need to lift each if the housing upside with the supply and demand in china. the question is they need to stabilize the confidence which they tried. there is a little bit of success here. the national holiday and housing stabilized in major cities. now they need to offer help to speed up the sector to absorb some of the excess supply. the goal is to stabilize and not have another boom.

>> let's talk just in general long term for china. what is china's strategy for growth? it used to be the exporting of cheaper goods globally and being the world's retailer, so to speak. what is china's strategy moving forward in terms of trying to keep up growth levels and growing its economy? >> the strategy has to be more bal balanced. they actually have been successful in terms of moving up the value chain. the problem, though, the policy of beijing was focusing too much on the manufacturing sector. china cannot just rely on supply and exports. i think they're realizing the strategy because domestically, the realistic problem is you

cannot rely on manufacturing for jobs. so, they need to focus more on the consumers. we are seeing more discussions. we haven't seen the real measures. we're waiting for that. i hope they don't disappoint. i feel we have some good signs here. it's not completely without question. >> previously, that was never held back by tariffs. now you have tariffs stateside which are heavy. tariffs are now happening in europe which is still open to conversation considering what china is trying to do here. is china's stumbling block going to be the fact they don't have access to the big open markets that they used to which is wealthy enough to take on the items they want as they've gone up the value chain? >> i think the measures so far, i don't worry too much. the question is if china doesn't rebalance, that would lead to

more pushback from everyone, not just the american developed economies, but developing economies. the measures -- look at the u.s. china is not falling to the u.s. anyway and europe, as you said, you have the negotiations. so far, it's not a huge issue. i think it's also -- also, it is reasonable for china to move and invest more overseas and the companies can do well. not necessarily produce in china, but again, it comes back to the point that they cannot just rely on exports. there is, you know, china cannot do this for the sake of the global economy and i think, you know, the pressure is building up a lot on beijing to change course to do some course correction to help domestic market. >> we will be watching out for course correction and hope we can have you on the show to discuss it further when and if

it does certainly happen. chief economist for apac and china. thank you so much for your time today. you can find out more of our china coverage across cnbc.com. coming up on the show, global equities enduring a tricky start to october. thus far, it hasn't necessarily looked at bright as, perhaps, september. negative sentiment spilling over to europe. we will bring you latest moves on the market picture. that's coming up next.

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welcome back. a quick check on the market then. we are down .8% across the stoxx 600 and really significant the play does come from the asia region where we saw what was an upbeat session kind of fall away. you saw the shenzhen fall 5% and more.

the rest of the market still lagging behind the likes of the hang seng taking a hit. perhaps petering off the china stimulus we had seen previously. plus, some significant pressure from yields which have moved higher. stateside, we saw the ten-year go past 4% in ten years time or so. the question mark here is could the higher for longer play still be factored in the market? could there be a no move from the fed in the picture? on the other side, you have question marks whether the ecb is ready for another cut in europe. bank of england looking to be more aggressive. all of those factors on central bank in the market picture. plus you have everything happening with china with the stimulus story which is one to focus on across the market picture to see whether that decline continues. here are the better performers. i say better because they are all still in the red across the market as you can tell.

so this market going down. ftse 100 is 1.2% weaker. a lot of those being some of those mining stocks which have taken a bit of a hit. angelo american and bhp taking a 5% hit so early this morning so far. even the cac 40 going down on the back of that conversation then out of china where they are looking to raise prices of eu brandy in china. here are your better performers today when it comes to the sectors. real estate and utilities managing to find uptick and so, too, telecoms finding gain. media dipping below the flat line and the question mark of where you find gains. where does this market lup leadership come from today with the red? sp speaking of the red, here is the

red. basic resources is 4.6% down. i noted that is a significant one across here from the asia region straight through to where we are right now. on the u.s. futures front, it is all about cpi we are headed to. there is still more data, but where does the risk lie from here in the market picture? we are seeing a mixed open that could be in play, but if we're going to talk about where exactly the risk lies for the remainder of the year, why didn't we ask the head of archmarket development here. ben, thank you for your time. i appreciate it. where is the biggest risk? we've spoken about cpi, but the fed may not see that as the risk. the jobs market seems fairly healthy. what's the biggest risk now? >> there are a lot of different risks until the end of the year with the partly good

performance. equity market valuations particularly in the u.s. is stretched. you have that happening with inflation. the strong jobs print on friday. that is sowing seeds of resurgent element. the ten-year back above 4% and we are coming into the presidential election which is the biggest risk over the next three or four weeks. >> does that 4% worry you? that ten-year yield hitting 4%? maybe it's a sign to say perhaps the fed shouldn't be on a continued cutting basis for now and it should be a little bit of a higher for longer stance at play or is that just a market factor that comes from one print which shouldn't necessarily be focusing on? >> absolutely. i guess the longer term picture suggests inflation is under control and heading down. we have seen the spikes from time to time. we saw the strong jobs print. i think it is probably a data point in a longer series which probably is supportive of the longer narrative for inflation.

it is something people will worry about from time to time. >> where does the market leadership come from through the remainder of the year? market cap still seems in a bifurcated area really all at once? >> i think it will be broader from here. i think people will hedge positions coming into the u.s. election. it will be a very, very bifurcated potential outcome for investors. it is something we have been spend ago lot of time thinking about at aberdeen and thinking about how much we want to carry going forward. you will see people taking some of the gains that they've build over the year and taking that off the table and looking to hedge out the risks from the trump presidency and harris presidency. looking to manage the market as they move through the end of the year. >> it seems to me that people we have been speaking to it is not a clean sweep of the house or senate. it is fine who wins presidency

because policy necessarily won't be sweeping through the u.s. you still have some sense of stability which is pretty good for the market as it currently stands. does that stand to say that the election, yes, as much as it is a risk factor, isn't necessarily as big if we have a situation where it's mixed up between house, senate and the white house? >> i think it depends where you are investing. if it you look across global equities, that holds to some degree for u.s. equities. for u.s. equities, if you end up with a divided set of powers, yes, the picture is fairly solid. both candidates continue to spend. kamala with fiscal, trump with taxes. i think it is the implication for the european equities and china and emerging mashrkets th come out of those things and you could see really big moves

depending on the outcome. >> okay. quickly, does oil factor into play? >> it comes into play with the recent elevation of tension in middle east. that is one of the reasons we have seen the u.s. ten-year move above 4% as well. it is something to watch. i think the demand pressures are less lessening. supply likely to increase. you have the technology behind it. it is something to watch. >> i want to move on to europe as well. before i do that, speaking of europe. french cognac industry group is saying china is determined to impose tariffs in retaliation for the decision on electric vehicles. this is breaking for you now. all should be done to avoid chinese brandy duties. does the fact of tariffs, does the conversation around whose doing what in terms of this trade relation factor into market play at all? does that -- does that worry

because you take a look at the luxury players. they have been saying a bit of a hit lately. something like this can certainly impact it surly? >> absolutely. from the european equity perspective, european companies generate more than half revenue from outside europe. be it u.s. or asia. 10% of revenue for european companies. some companies can be 40% or 50%. clearly, tariffs and friction on trade are much more relevant for european equities and emerging markets than the u.s. it goes back to the earlier c conve conversation. the election matters more outside the u.s. >> is it a granola story? still not necessarily nitpicking? >> i through are opportunities across europe. not just granolas.

i think it is a selective stock pickers market. it is more than just looking for the granolas. the area where we see interest is small midcaps. we are certainly starting to see investor interest in that space and there are cracking companies in europe. for those prepared to look away from the biggest companies, look across the marketplace. >> one thing we are not going to delay, like the trains across the uk, is thanking you for being here. i appreciate the time. ben, thank you so much. i hope we will chat again. that'sben ritchie at aberdeen. coming up on the show, foxconn chair hypes up the a.i. boom telling us it has some way to go. we are live from t'aipei next. the fuel you need to take flight. cirkul is the energy that gets you to the next level. cirkul is what you hope for when life tosses lemons your way. cirkul, available at

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welcome to "street signs." my name ise is arabile gumede a

these are your headlines. quickly pared back the gains with the chinese stimulus plans are turning. the sentiment has spilled over to the european session. mining stocks plunging today. the beijing commerce ministry imposes tariffs on eu brandy exporters sending drinks makers sharply into the red. and foxconn chairman says the a.i. investment boom still has further to run telling cnbc on the first interview the large language model involving. >> we still have room to go. and samsung offering an apology after guidance below in the third quarter.

the a.i. boom still has some time to go. that's according to han hai technology group chairman. he spoke to emily at the han hai tech day in t'aipei. emily is joining us with more from the company's showcase event. emily, one thing for sure is the conversation has been about how there is still so much more to go with regards to this a.i. boom, but it's about who exactly gets to make the most out of this time. >> reporter: that's right, arabile. very good morning to you. we are coming to you from han hai tech day in t'aipei. the focus is on a.i. not only accelerating imagination which is the tag line this year, but artificial intelligence as well as two new electric vehicles that they released and unveiled to the public today. as far as artificial

intelligence is concerned, they are the first to mass produce an a.i. server rack by that of nvidia. it's the blackwell chips as the gb-200. i did get a chance to look inside the rack and the tray and seeing two gpus and liquid cooling technology in there. if you want to look at one rack, there are 27 trays and that will set you back $3 million u.s. we want to know the demanded for artificial intelligence. still strong as evidenced by the third quarter record sales numbers at $57.3 billion, up 20% year over year. i asked the chairman about the guidance in the fourth quarter. >> fourth quarter, we are still seeing a.i. is going to grow. the demand is still very strong, especially we anticipate the gb-200 start shipping by the end

of fourth quarter. >> reporter: the gb-200. i'm looking at it. it's just behind you. you are ready to ship it. what does your order book look like? >> oh, that's -- that's very sensitive answer, but i have to tell you it's much better than we thought. much better than we thought, yes. >> reporter: what is production capacity like or capacity utilization? >> for the a.i. servers? >> yes. >> i think it's almost fully utilized and we're building new factories for that. >> where are you doing that? >> mexico. in mexico. >> the return on investment on artificial intelligence is increasingly the focus for investors. how long do you think this investment boom is going to be lasting before the hyper scalers scale back? >> i think it still has some

time to go because of the model, the large scale language model is still evolving. the artificial intelligence is becoming, you know, more and more intelligent. we also heard about agi. we talk about the different level of intelligence. if you divide that into four different levels, we're in level two, i think. there's still level three and level four to go. i think what the a.i. server industry, i think, still has some time to grow. as i mentioned, with the a.i. capability growing, the aged a.i. devices is another industry

we should watch carefully. that will be the next big growth area. >> while you are helping your customers embrace this a.i. wave, what about internally at han hai? how has it impacted your operations? >> it's huge. i think we are applying gen-a.i. capability overall our operations. what we see is that the improvement of the productivities is almost, almost onefold. it can be double. i remember our, you know, worker, total number of workers at han hai was 1.3 million maybe three or in our years ago. today, to do even more production, we need only about

900,000 people. that's the productivity. part of it was due to automation. part of it was due to the gen-a.i. improvement. >> do you think that could be lowered further? >> we're seeing the rate every year which is about 10% to 15% improvement. in terms of the number of workers, it may not be proportional. productivity is about 10% to 15% better. >> reporter: han hai is in the process of building the world's largest a.i. server factory and doing that in mexico. we heard that here at tech day today. they unveiled two new ev model types, model d which is an lmvu. lifestyle multipurpose vehicle

and model u. the mid size electric bus. this brings to eight the total number of prototypes that han hai has designed. two are in use currently in taiwan here. we wrapped up on day one of han hai tech day. there is still day two. they are opening up to the public in the biggest annual tech day for the company so far ever. coming to you live from t'aipei. back to you, arabile. >> emily, thank you for that. very interesting as well as where things go from here. particularly with the chip market and a.i. boom is one to really focus on. let's continue the conversation around that. samsung electronics expects third quarter operating profit to be 9.1 trillion yuan. that is 274% higher than a year ago, but still well below analyst expectations. the firm saying it struggled with increased supply from

rivals and delayed a.i. chip sales to an unnamed major customer. chery filed this report. >> reporter: samsung disappointed the market that was bearish about the stock going into the earnings season. in guidance, the tech giant flagged a third quarter operating profit of $6.78 billion u.s., which is a 12.81% decline on the quarter. the stock showed a negative reaction to the slowing sequential profit growth. the problem lies in the samsung earnings driver of commodity memory business. samsung says clients are ad adjusting inventories. fanning concerns of maemory cyce peaking out. samsung is paying for the late response to the a.i. chip related business. the supplies to a major customer which market believes to be

nvidia have been delayed according to sysamsung. the market speculated that the company may spinoff the struggling foundry business. samsung's vice chair, head of the semi division issued a rare an pology to customers and employees shortly after the guidance vowing changes. he said sorry for causing concerns around the future of the company and promised to restore technological competitiveness to the company. samsung shares are down 20% year to date. it's full third quarter results and earnings call take place on october 31st. i'm chery kang for cnbc, hong kong. >> let's unpack for with the vice president for devices and focusing on data at idc. francisco, thank you for the time. i appreciate it.

what's samsung's big problem? the demand story or chip delivery story? >> despite the huge growth last year, the race, the a.i. race, is still full on. basically, what samsung is the biggest challenge is the fact that it is falling behind its direct competitors in one of the businesses where samsung has been strong. because the a.i. race is moving so fast, any delay in supply will have aimpact. we saw strong growth from last year and decline from last quarter, but more importantly, is how critical and how quickly will samsung be able to catch up with the rival? >> can it catch up? is it just a chip story? a large language model story they need to develop quicker than rivals or is this a fact they are now behind and it is going to be hard to get back on

track? >> it's not impossible to get back on track, but it shows how fast this a.i. race is moving on. basically, samsung has been not able to catch up in terms of this high bandwidth memory where they stack less layers than, for instance, sk hynix, one of the biggest competitors. this high a.i. is all about training llm, large language models, and about advanced computing. the faster the memory, the quicker the memory and the quicker the data gets in and o out, the better for training the models. this is big for nvidia and intel and many other companies. that's why it is critical for sy samsung to catch up. the companies that can supply the chips faster with better

performance will definitely win this race. as we see with nvidia on the chip side. >> one reason we see nvidia take the lead in the space is because they take the spend on the chips and memories. if they just do that all over again, could they not just get themselves forward or is it a case it is too expensive now and it will take too long to get to the end goal and they already would have fallen behind all these players and lost the edge? >> it is a challenging market and today, the challenge from the direct competitors is they are able to compete at same level. you are right. the fact that they invested heavily is paying off, but not paying off to the point they are winning this race. they are lagging behind and that is why the new semiconductor and to make an apology to investors is surprising shows how critical

the situation. >> does that shock you? yes, he is apologizing, but you don't apologize, you say things didn't work out and we move on. >> absolutely. >> does that worry you as an investor despite not being in that view, but would you be worried? >> if we are looking to the latest, apology samsung made to the market in 2017, that was a major crisis for the company. this is anothercrisis to the company. they were resilient and they managed that crisis quite well. i'm not expecting samsung not be be able to catch up. of course, we don't necessarily know and the chairman of samsung was not clear on the latter issue today about what are the exact steps.

it was clear they will fix the problem. he was mandated to fix the problem when it took the role in june this year, but not clear if he will make it or not. >> very unclear. one of the things we also now unpacked before this, but i want us to really zone in on this one. it's really around one, phone prices, and, two, annual releases. the report coming out as we just been seeing off air between the two of us with regards to apple, perhaps, thinking about no longer having annual releases of some of its devices. it could be fewer, it could be more releases. who knows exactly how that will play? what's your thoughts? >> i'll be very surprised if they release fewer phones. the market over the next four years will massively grow in this transition to a.i.- enabled smart phones. by 2028, 70% of the sales in the world will be a.i. enabled.

what apple's biggest issue today is when they released the new phone in the portfolio in september, they are strong in q4 and q1. they are weaker in q2 and q3 because everyone is expecting the next iphone. if apple manages to break the annual cycle into two sub somcycles in the year, they will maintain momentum. that is what samsung does by releasing in the march timeframe and christmas with the other competitive devices. >> it wouldn't necessarily be a case of releasing two phones in one year, but what it is you are releasing that is fitting into the market. whether it is the watch or wearables, et cetera. does that work with what the consume rs are looking for? i may not be able to afford it,

but my credit card can. if i buy the iphone, i'll buy the watch at the same time. does it impact the upgrade cycle? >> apple creates the biggest quarter in q4 with black friday and christmas sales, et cetera, and it has been working extremely well. more and more consumers buy iphones and watches and ipads on monthly installments. if that's the case, if you subscribe to get a device, it doesn't make a difference if you do it or buy it in december or later or early in the following year. indeed, it can even be beneficial for apple by spreading the release of new products because we all know that all of us spend a lot of money for christmas. maybe another subscription may be a concern. in march or april? maybe not more. >> you will still spend as much on christmas?

>> maybe not on some of the traditional stuff. the gadgets? the latest devices are always very attractive. especially now with apple intelligence and samsung a.i. coming in our hands. this is a powerful position and many will be interested in upgrading. >> i don't know if the budget allows. i'll see what comes up. thank you so much. >> that's the challenge for everyone. >> exactly rite. thank right. thank you for coming in. francisco jeronimo at idc. just a quick look at u.s. listings of china stocks. we had been following in the asian trading session. chinese stocks managed to move significantly higher, but that toned off quite significantly for them. you see the likes of alibaba going down 8.8%. xpeng double digits there.

so, too, li auto, as we go into the ev space. nio losing out with bilibili at the top of the losses. that is the extended hours trade of those chinese firms. coming up on the show, florida preparing for what could be its worst storm in a century. it's bracing for a second hurricane in as many months. we'll bring you the latest on that story next.

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hurricane milton has intensified into a category 5 storm threatening parts of mexico as it makes its way to florida. the state, still recovering from hurricane helene, is ordering he evacu evacuations. we have alice barr with more on the evacuation notice and many people are indeed evacuating right now. >> reporter: arabile, overnight,

this actually did weaken to a category 4 storm, but meteorologists warn it is not any less dangerous. that is just talking about the wind speeds. it is expected to ak st.ccelera back to a category 5 as it makes landfall. bottom line, this is a potentially catastrophic path of destruction coming up from hurricane milton. the federal government is racing to respond. there are tens of thousands and hundreds of thousands in the path. there are piles of debris from hurricane helene only adding to the hazards. this is all adding to the fears in florida. the storm is expected to make landfall late tomorrow around the tampa bay area and in counties down the florida peninsula along the gulf coast, thousands are heeding mandatory evacuation orders. president biden approved an emergency declaration. the federal government is promising it is ready to respond

with 500 workers on the ground. we heard from the homeland security secretary mayorkas saying there is the army corps of engineers and fema is prepared to respond on multiple fronts at a time. that ability will be put to the test with these massive storm recovery efforts under way from hurricane helene and among the most pressing priorities is clearing piles of debris that are all over andthat could become flying and floating hazards. many dealing with the devastation from hurricane helene feel they haven't gotten enough support. that means state and federal officials are battling misinformation. they are promising help is on the way and fema has been responding on the web site noting that disaster money has not been diverted to other non-disaster efforts. arabile. >> alice, i don't know if you

have been able to speak to anybody from the region with regards to the preparations for this evacuation and, you know, is it happening as quickly? are people actually leaving their homes? of course, you know, it could actually be a difficult situation for a lot of them and while, yes, there's the funding that is certainly ready and staff ready as well at play here. are citizens, perhaps, reacting to this in and taking it as serious as it is? >> i do think so. we have seen images of the clogged highways that show the amount of people trying to move inland or head north in florida. they are certainly having a fresh reminder of the incredibly dangerous conditions that they could very soon be facing because of the devastation that we've been seeing unfold in the aftermath of hurricane helene.

you are seeing video there of people loading up and people loading sand bags. there are always people who decide to stay, but we are hearing very strenuous calls if you stay from these areas with mandatory evacuations, you could die. the emergency responders who have to come out to help you could die. really heeding those warnings. >> alice barr, we appreciate the reporting as we take a look at 500,000 floridians being asked to evacuate and warn. and quick look at the market picture here out of europe as we close out the show. it's been a down day as things begin. two hours since the market opened. down more than 1% across the french as well as the uk market. basic resources and luxuries all going down at present. thank you very much for joining us. this is "street signs."

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it's 5:00 a.m. here at cnbc global headquarters. welcome to "worldwide exchange." here's your "five@5." stocks trying for tuesday turn around after the worst day in nearly a month. one voting fed member just gave investors a new reason to feel bullish. and not feeling as lucky. we have the latest on the moves in just a moment. the developing story as hurricane milton churns in the gulf and gets closer to a ty