i intend to do that. you know, with god's help. [music playing] ♪ good morning. welcome to "street signs." i'm dan murphy. first, china rides another roller coaster session. investors now eyeing saturday's briefing out of the finance ministry for the next wave of stimulus measures. plus, european equities struggle to maintain the

positive mostmenomentum. however, the key data head of the cpi print. the stoxx 600 draws a line under lawsuits agreeing to pay a settlement up to $2.2 billion. and hurricane milton makes landfall knocking out power for more than 2 million people as the now category 1 storm barrels across florida. live from abu dhabi at this hour. let's kickoff what is moving in china. we have seen china markets riding a roller coaster session with the majors looking up for the wednesday steep one-day decline since the onset of the pandemic.

this as the pboc launches the 500 billion yuan. investors, of course, also eyeing saturday's briefing from the finance ministry with high expectations for further stimulus promises. the question is do we need to see more robust fiscal support to sustain the rally we are seeing in chinese equities? investors are, of course, watching to see if they will sustain the momentum. the saturday briefing is the big one with the expectations of 2 trillion yuan to 10 trillion y yuan released to help the future of the markets here. the size of the stimulus remains to be seen. the markets will be shut on saturday so we won't see reaction to this or sunday's

inflation data until monday. cnbc's sam vadas reported earlier that any quantified stimulus package would still need to be signed off by the standing committee at the national people's congress which doesn't meet until the end of the month. there has been some suggestion here as well that we may not even get a number yet. we will have to wait and see what the weekend has in store. moving forward. let's get an update on how europe is moving through the course of the session. first to the heat map. the stoxx 600 is pulling lower down by 2%. european markets actually opened higher, but trading has been mixed overall. china stimulus and middle east tensions and had fed playbook influencing the travel for the majors. let's take a deeper dive and the indices are trading. i said it was mixed. that really is being reflected right here as well. the ftse mib is up by 0.15%. we are seeing losses for the

ftse 100 and dax and cac 40. the paris cac 40 pulling 3% lower and the dax on the flat line. here are our top sector gainers as it stands right now. when it comes to what has been moving in the markets, insurance stocks leading market gains earlier as we saw hurricane milton hit florida. autos have been part of the loss leaders though as we see trade and tariffs fears in the background. right now, insurance is leading the market. i mentioned autos were part of the losses in the broader trading day today. here are the sector losers for you. taking a look at some of the names here. you can see technology leading declines at the moment off by more than 1%. basic resources also pulling back in the order of 1% as well. let's get you a live look at u.s. equity futures as we head into the resumption of wall

street trade. you can see the 500, dow and nasdaq all weaker. dow off 58 points right now. the fed in focus stateside. officials were split on whether to implement the jumbo cut from the last minutes. the substantial majority supported it. the mine iutes appear to back t consensus that the back of the november meeting hangs in the balance. investors have repositioned their bets from the 1 in 3 chance of another 50 basis point cut to a 1 in 5 chance of a hold now. the boston fed president susan collins is clear that further adjustments will likely be needed. her remarks echoed those of san francisco's mary daly who sees one or two more cuts this year. the dallas fed president lorie logan said she had been behind

a .50% move in december. this is all ahead of the cpi release and it is expected to show price increases moderating on the month with the annual inflation figure easing to 2.3% according to dow estimates. our u.s. colleagues get the first conversation with the chicago fed president austan goolsbee after the data hits the tape. do not miss that conversation. it's coming up at 3:00 p.m. bst. i want to flag u.s. treasury yields here as well. this has been another mark in the market for you. look at this, the two-year and ten-year. the two-year at 4.08. and 4.02. let's unpack this. i'm pleased to say we have daniel here with us. da daniel, great to have you here. thanks for the vconversation. the two and ten holding above

4%. at what point does this become competitive and how are you reading the rise that we're seeing? >> yeah, i think 4% two-year yield is very attractive. possibly inflation seems to be under control now according to powell. if you look back in history over the last 20 or 30 years, the two-year have been around zero for the yields. if you look aging at the two-ye bonds, that's really attractive. obviously, we had the fed a while ago. we have events happening at this juncture causing a spike in yields. the chinese stimulus that you just mentioned, you have the hurricanes in florida and importantly, the higher oil prices emanating from the middle east conflict. over time, we expect each one of these to dissipate and the market will return to focusing

on the domestic fundamentals with inflation which is constructive in the u.s. >> and just looking at some of the broader factors at play here, you rattled them off. china stimulus, middle east tensions and u.s. election. market focus shifting over to the fed now and it seems like the fed minutes gave us insight to pull the trigger on the 50-basis point cut. there was dissent on the board. what does that tell you about the fed's next move and the catalyst for the fixed income space? >> the fed always has a problem with the differences of opinion. it's quite clear from what the statement from the last fmoc and the pressor after the fmoc and the minutes with the line of travel is for gradual rate cuts going forward. we're likely going to get 25 --

two 25 moves this year and ultimately, regular 25 moves next year. ultimately, around 150 basis points of cuts going forward. i think there's a bit of noise with the fed minutes in interpretation. i think it is consistent with inflation around the 2% level. >> gradual rate cuts moving forward. daniel, i want to shift over to europe and the ecb. french and spanish inflation and low pmis, too. also, germany, moving toward a technical recession. what do you think that means for the ecb next week? expectations are we could see another cut on the table here. walk we through what we should be looking at.

>> they will certainly cut the price and another cut in december. 95% probability priced into the market. with that sentiment, as you say, french, spanish was weak. pmi was weak. over the last week was schnabel was a hawk and she has come out with a dovish tilt to her comments. she mentioned disinflation is on track. the 2% target is within reach and warned against growth headwinds in europe and pointed to the larger economies in germany. likely entering a technical recession going forward. so, the growth dynamic is europe is generally weakening and

inflation is coming down. with the u.s., inflation at or below 2% on the medium-term basis. >> okay. walk me through the overall trading strategy here. do you want to be exposed in the united states or in europe? what does the perfect fixed income portfolio look like right now? >> yields are down 3.70% in the states. we are very constructive on europe. we are overweight on german bonds. if you look at one of the things we were looking for in the market was the decoupling of europe from the u.s. the u.s. exceptionalexceptionale growth was weak. we are expecting decoupling. we are starting to see that. over the past month, the two-year german yield has diverged from the u.s. en-year

yield by 40 basis points and we think it has further to go. we are short on germany. also in the ten-year space, we see value, also. in addition to that, events in the uk with the upcoming budget on october 30th and spreads to widen out on gilts versus bunds almost to the point we saw in october of 2022 with a really significant fiscal price. we think that's overdone. we would be constructive on duration in europe and in the uk. >> daniel, before i let you go, of course, the market focus is also shifting back toward the u.s. as we track into this really critical election stateside. just reading through some of your notes, you say former president trump would be bad for bonds, but good for risk assets. what do you mean bad for bonds? >> yes, if he was to get in and

have a strong mandate, that is big, clearly, he will be continuing his policy of cutting taxes and fiscal expansion and tariffs abroad. that's basically growth stimulus plus deglobalization. that's a bad recipe for bonds. now we don't actually think he would have the mandate to push that through, but that is a risk. maybe a greater risk if harris was to win and trump loses election. if he contests that election, that would be bad for risk assets and more positive for treasuries. it is all a function of the margin by which harris or trump wins. >> okay. all important to be thinking about right now as well. daniel, we'll leafve it there. that is daniel, the head of

fixed income at international funds limited. let's get a check on the closing state of play in china. you see the hang seng just finishing up here. we saw the market up by 3%. 21,251 is where the session closed out. market investors clearly liking what they are hearing about the prospects of more stimulus being announced as soon as this saturday. of course, as we always say, the devil is going to be in the details. stay with us on the program. on the other siede of the break europe's largest economy st stumbles. we will breakdown at iwhs moving in germany on the other side. stay with us.

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welcome back to "street signs." germany now expect its economy to contract by 0.2% in 2024. that's down from previous expectations of 0.3% growth. that would mark a second straight year of contraction for

the first time since 2003. we have annette weisbach with the story. >> reporter: that has been building up over many years. of course, it was the perfect storm with the high energy prices and no gas from russia, et cetera, but still, a lot of that is homemade and that is also what the president of the family owned open associations is actually saying. the current government has not done any good to the economy with the twists and turns on energy policy and subsidies on electrified cars and more regulation for home builders. so, you could go on for ages to come to have examples for negative business related policy actions from government. having said that, what is needed

now is more of a bit of a growth act which they came up within july. it needs a real agenda, but we are far away from that and i think many people here in germany do hope that the next government will actually be much more business friendly. for now, the economy minister of germany is still trying to at least convey some sort of positivity when it comes to the outlook. let's take a listen. >> translator: although the situation is not satisfactory overall. not everything is the same. i want to remind you from where we come from. from high inflation and people are actually bgetting poorer. we can now say this task is being tackled. >> reporter: of course, it's too easy to blame the inflation for

the economy. too much red tape and bureaucracy. virtually every ceo or business leader is talking to me and saying it is tough to make investments in germany because there are so many rules you have to obey. that is why red tape bureaucracy has to be cut in order to revive inve investment. cap ex investments are down 7% year on year and that is, of course, because of the huge political uncertainty lingering over the economy. i guess it's too early to say we are over the worst yet. this winter will probably be economically grim in germany. >> indeed. annette, i appreciate the update. thank you for bringing the latest. that is annette weisbach live in frankfurt. moving on, ryanair will cut 12% of traffic through the

germany airports and closing airports in dresden. the budget airline blamed the country's government for the move saying it has failed to reduce taxes and fees and saying it will be quote devastating for jobs. the union behind the boeing factories in the united states says it is ready to return to talks anytime. around 33,000 workers have been on strike since mid-september in a bid to secure a better labor deal. the stoppage will cost more than $1 billion per month and warned bo boeing, it's credit rating will be downgraded to junk as a result. airbus reported a 9% drop from the same month a year ago with the french airplane maker saying it is on target to hit 770 deliveries.

our charlotte reid joins us now from london. charlotte, the widening gap with boeing and airbus is becoming clearer here. >> reporter: at the same time, they have the same issues. they have a supply chain issue. people want to travel. airlines want new planes. a backlog of 8,000 mplanes and production ahead of them for ten years. they are struggling with that. they have delivered so far this year 497 planes. that's ahead of last year, but the last quarter will be crucial for them whether they can hit their target. they con refirmed the target of0 planes this year. they were hoping to deliver 800 planes this year, but they can't do that with the myriad of suppliers they are working with and struggling to ramp up production. in contrast, they delivered 735 planes last year.

we are very far from the record numbers we saw before the pandemic. the record was 860 in 2019. they have really struggled to get back to the levels since the pan pandemic and the hit of the supply chain. they are ramping up of the a-320 there. they hope to hit 75 monthly for that plane. by 2027. they are working with suppliers that are impacted by the crisis. competitor of boeing and a lot work for both companies and boeing reducing production. i'm betting on smaller supplies from other systems. the system is fragile and they are trying to put out as many planes as fast as possible. they get paid on the planes when they deliver them to the airlines. that is why we are watching the delivery numbers there, dan.

>> charlotte, it is fascinating, of course, travel demand has ramped up so strongly since the pandemic. if you speak to the airline ceos, they cannot get the planes to meet demand. what are the airplane manufacturers are saying about the order book? is it just a case of supply and not meeting demand or supply chain issues or other factors at play? >> reporter: it has airbus with 8,000 planes on backlog. those airlines really want the new planes. aircraft have to furlough some of the crews because they don't have the planes they want to get because of boeing issues. orders coming in and with all of the safety checks in place and the incident with boeing earlier

this year. they have all of the checks and they need to have knowsthose in place. it is a challenge for the aircraft makers. >> charlotte, thanks so much for joining us. moving on, gsk agreed to pay up to $2.2 billion to settle 80,000 lawsuits involving its discontinued heart burn drug over cancer. gsk will pay $70 million to settle a related whistleblower lawsuit in connecticut. the firm continues to deny any wrongdoing under the deal. more bad news for german autos, bmw posting a 13% sales plunge in the quarter. mercedes-benz fared better with q3 china sales fell just13% on

the year. sales at givaudan rose fell. the giant said it saw growth in all markets. earnings per share is expected to decline 1% on the year after the first positive period since 2022 in the second quarter. analysis from bank of america research shows analysts expect the strongest earnings growth from the basic materials, while financials is the biggest contributor to growth. without the companies, stoxx 600 earnings would be seen 6% lower on the year. energy, tech and utility sectors are seen dragging on the outlook, but the worst performance is expected from the consumer discretionary companies

which include european automakers. data from deutsche bank shows downward revision from the auto sector from this quarter over the past three months. profit margin notice s in the se expected to fall in the full year after a slew of profit warnings from the sector. up next on the program, hurricane milton makes landfall bringing life threatening winds and flash plflooding to florida. we'll have the latest in just two minutes time. stay with us. what you hope for when life tosses lemons your way. cirkul 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.

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walmart and drinkcirkul.com. you are live on cnbc. this is "street signs." i'm dan murphy. let's recap your top stories. first up, china marks another roller coaster session as the pboc marks the 50 billion yuan after the saturday briefing for the next wave of stimulus measures. european equities struggle to maintain the positive

momentum with the u.s. futures also in a holding pattern ahead of today's key cpi print. we'll discuss. hurricane milton makes landfall with high winds and knocking out power for 3 million people as the category 1 storm barrels across florida. and bury robot? tesla releases the robotaxi technology across california. so good to have your company this morning if you are watching from europe. good afternoon from here in the middle east. let's bring you right across what's moving in europe as we get you set up for the u.s. trading day ahead. first to our heat map. the stoxx 600 is pulling lower today. you can see down by 0.16%.

china stimulus, middle east tensions and u.s. election all in focus, but, of course, we did see european markets opening higher today and trading is mixed overall. when it comes to the number one factor here influencing the state of play here, it is fair to say it is the policy playbook. when we get the cpi later today, that could have a really important move for the overall direction of travel for the european markets here, particularly as we assess the outlook for the fed. let's take a deeper dive into what's moving. here's how the european major markets have been trading through the course of the day and i flag for you it is a mixed picture overall. right now, we're seeing the london ftse 100 just on the flat line there. the dax in germany pull back 2%. the ftse mib eeking out a modest gain.

in terms of what we have seen in germany today, the data has been in focus. retail sales up 1.6% month on month in august. the biggest economy in europe is showing signs of strain. this has been a key theme for us through the course of the day. policymakers in germany admitting their economy is quote treading water. they expect a contraction for a second straight year. of course, this is important to point out as we go into the ecb meeting next week where we do see expectations of additional 25 basis point cut. perhaps the negativity and headlines coming from germany adding to the case the ecb may need to move on rates in order to prop up broader growth. first to the top sector gainers as it stands right now. insurance stocks had been leading market gains earlier today as we saw hurricane milton hit florida. we are still seeing insurance in the top two right now. you can see up by .6%.

healthcare stock pulling forward here better by .65. the oil and gas sector up by .25% of 1% and telcos rising.26. here are the losers across the market today and pulling markets lower right now is technology. down by 1.3%. a sizable decline there for the sector. travel and leisure down by 1% as is basic resources as well as construction and materials .6% weaker. i flagged for you what we see in china. let's recap the closing day in the trade there. a lot of attention and focus coming into the critical meeting set to take place on saturday where policymakers are likely to outline additional sdtimulus measures. these markets had been on a roller coaster to put it lightly this week. what we saw at the close out of trade today was this, the

shanghai up 1.3%. shenzhen falling .4. the hang seng and hong kong managing to push forward with another day of strong trade up 3%. 21,251. the csi 300 index also pulling forward here. we have seen these markets out perform broader asian indices and giving a sentiment boost across the asia trading as we count down to the stimulus policy measures. i flagged this for you earlier. the nikkei below 40,000, but the market still eeking out .2% gain. stocks moving higher in india where markets are reacting positively to the decision up 0.3%. the asx 300 rising 0.43% which

is of course off the move of commodity prices today as well. going back to one of the top stories. milton made landfall on the west coast of florida last night as a category 3 hurricane. the storm, which now has been downgraded to a category 1, is expected to maintain hurricane strength as it barrels across the state. deaths have already been confirmed in at least one county with over 3 million florida residents estimated to be without power. analysts are also warning that hurricane milton could cause insured losses up to $60 billion and say the 2024 hurricane season could dent insurers profitability. analysts from bloomberg suggesting $30 billion worth of municipal debt is at risk from the storm. nbc's jay gray is in the thick of it. he joins us live on the ground in fort myers. jay, give us a status update and walk us through what authorities

are doing to respond. >> reporter: yeah, dan, what i can tell you right now, things have calmed dramatically in fort myers. overnight, we saw significant winds, strong winds and driving rain and standing water and storm surge pushing into some of the business as long the coastline and that's been a major problem. you talked about 3 million people without power. that number is sure to climb as this hurricane continues to push across the state and tornadoes have been an issue. we know that this system spawned at least two dozen tornadoes. one of those deadly on the eastern side of the peninsula. one of those here in fort myers ripping the roof of a home and damaging businesses. we'll have a better handle on the damage here once we get day break in a couple hours and we

can get a look at what's going on. officials have staged before the storm and in fort myers, they are preparing to move in and repair that power with crews moving in. we know there have been high water rescues overnight and the rescue teams are poised to move in as well. this storm is not done with florida just yet. we will see several more hours, especially across the central and eastern part of the state where they continue to get lashed with winds at 80, 85 miles an hour and the storm surge on the opposite side of the state. it's going to continue to move through until it gets out into the atlantic and pushes away from the coastline. we'll continue to monitor things. right now, dan, that's the situation right here on the ground. >> nbc's jay gray reporting live for us in florida. jay, we appreciate it. stay safe. thank you. for more reaction and analysis,

let's turn to susannah streeter. we saw estimates earlier of insured losses of up to $60 billion u.s. dollars. how are you assessing the damage so far and what those insured losses look like in a worst-case scenario? >> that certainly is a picture firming up when you look at the damage which is right across the state. but remember, this is an isolated incident. last year, there were 28 multibillion dollar climate insurance incidents in the united states. this is not a one-off event. we had hurricane helene as well causing that damage recently. i think this is a bit of a wake-up call to the true costs of these climate emergencies

will cost the u.s. at the moment, the federal funds allocated around $120 billion a year to try to mitigate the effects of wildfires and floods and incidents like this. there are forecasts that actually double by the end of the century. this, of course, will have implications, not just from municipal debt, but federal debt as well. we know how long and protracted debt negotiations are in congress. so, i think there is a lot of searching that needs to be done about how this will be paid for in the future. >> indeed, susannah. climate risk is a clear concern for market investors, but pricing that climate risk has been quite a significant challenge. of course, the primary focus right now is on lives and livelihoods. i wanted to make that clear. i also wanted to get your take on what we can expect to see out

of the u.s. trading day today particularly as we assess the impact for the insurers and broader financial sector. do you expect a material response from the market as we see the u.s. coming online? >> i think probably not in this respect because although you see brent crude edge up a little bit today because partly due to the fact that around 25% of florida is running short of fuel with the spike in demand. florida is the third most populous state in the united states. that's why it is having the skewered effect and pushing up the price of brent crude, but also, of course, the situation in the middle east is feeding into that as well to some extent. i think really what you're seeing is a bit of cautiousness around financial markets ahead of the latest inflation number which is due out later for the united states.

hopes it will continue on its downward path there. there have been concerns with, of course, the job numbering c coming through with the inflation number more stubborn. that is the focus today. i think longer term, there is certainly a concern that could affect actually real estate as well because insurance costs keep mounting, which they are, 20% increase some homeowners have to pay, but also mounting costs for businesses not just homeowners as well. also, you may get this feeding through and it's very likely to revaluations of real estate. there are some concerns this climate change property bubble emerged. actually, some homeowners could see or great swaths of them, up to 3 million, could see their homes revalued downwards by 10%.

>> absolutely fair point. a risk. susannah, you mentioned the cpi printout today. what are you expecting and could it influence the direction of travel for stocks? >> yes, certainly. i'm probably expecting it to continue to head downwards. there is this upside risk as i say because of the fact that retail sales have remained -- i wouldn't say buoyant, but resilient. you had the better than expected payroll numbers that came out. that all indicates there is a bit more confidence swelling around the jobs market. that could have an upwards pressure. obviously, it's very difficult to call, but certainly, it will be watched for any indications that that could mean the interest rate path that the fed is looking to take could be swayed. at the moment, of course,

expectations for another supersized rate cut really have dissipated because of that stronger jobs number. the question will be now, i think, the focus will be on will the fed maintain its path or are we going to continue to see rate cuts or better than usually 25 basis points. >> indeed. the fed has already cut by 50 basis points as you say. we have seen interesting data recently, particularly the blowout nfp number. what are the data points that will determine what the fed will do next particularly off the minutes that show there was some dissent on the board? >> certainly, there was dissent. that will not come as a surprise. a super size cut of that size isn't usual. it is usual to see more of a smaller cut for example 25 basis points. because of that dissent around the table, there is this real

expectation being cemented in that the pace of cuts will be more gentle and because of that non-farm payrolls number we saw coming out. also, as i say, retail sales and consumer confidence and all of these data points will be analyzed by economists to develop the picture as well as wage growth which is the one to watch. the concern is if consumers do keep spending and if the wage bill keeps relatively robust, that could be passed on for high prices and goods and services. all of these data points are ones to watch. data is king right now and certainly that appears to be moving the markets. >> indeed. susannah, i appreciate the conversation ahead of the wall street open. head of money and markets at

hargreaves. i wanted toupdate you with the nhc now saying milton is moving off florida's east coast. it's still producing damaging hurricane force winds and heavy rainfall in east central florida. the nhc now has confirmed it is moving off the florida coast. we will continue to track all of these developments for you and bring you the most recent pictures as well. and one of india's largest congl conglomerates, ratan tata, has passed away at aged 86. he acquired major acquisitions in the uk including jaguar and other steel plants. narendra modi paid tribute to him as a visionary business leader. tata discussed his business and leadership with us back in 2021.

>> what we need is investor in spirit. it means a collection of people who have common views that can come together to enterprise successful. stay with us on the program. we have plenty more for you. just ahead, buy robot? as tesla prepares to unveil its robotaxi. w we'll tell you what to expect on the other side. what is cirkul? cirkul is what you hope for when life tosses lemons your way. cirkul is your frosted treat with a sweet kick of confidence. cirkul

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welcome back. tesla will hold its long awaited robotaxi event today where it will revoeal its latest autonomous car. ceo elon musk has positioned the

robotaxi as the main pillar as the future strategy. let's bring in john. john, welcome to the program. i think we have to visualize it like this. on the one hand, you have elon musk's expectations over here. on the other hand, you have the technological and regulatory over here. how does this event narrow that gap and how wide is it right now? >> well, we have to go back to when elon musk began his robotaxi journey in 2019. he's boeen on this journey for five years. it has been a full camera driven technology in regulatory terms which is level two. to get to a full autonomy vehicle, that's level five. so, we've looked at the data quarter by quarter basis. this will be full self drive 12 that he will talking about. the latest data is pretty good.

he is vastly improving self drive with cameras. the problem is with google and zoosk and croatia, you have level four or five technology available. he has to prove at this event he is able to take his camera-only sensor equipment to level four or five capability which is the skepticism anybody should have. >> you say waymo already has this in place. i have been to san francisco and seen the cars. how does tesla get an edge in the robotaxi market when it's clearly not a first mover? >> this is the question. they're not a first mover. this is really definitive. the other player you didn't throw in there is now nvidia drive division with the blackwell chips. they also have to incorporate

some long in how they are going to get an advantage out of the a.i.-type format which they will speak to here. they do have, you know, put in a.i. chips in the texas gigafactory. we know this. we know that's probably part of this reveal, too, they will use new generation blackwell chips to improve the self driving. that should be the other things. i will tell you we have seen prototypes of what this will look like. i suspect they are doing this as a warner bros. studio and hollywood studio, we will see a two seat prototype. we have seen the remix version in croatia. you put the seats in the back and lots of legroom and console and 43 inch tv screen in front. that will probably be what he will use because we know he announced this first off in april of this year, then devoid

t delayed the announcement after we saw the version that will come out in the uk in 2027 and croatia in 2026. i think we know what it will look like. we will see this prototype and then get the language, the robot language, around the chips and autonomy and how he will approve the self driving. that's the full package we will get out of this. >> absolutely fascinating. john, i know you look at this closely. what are the regulatory hurdles here that tesla is probably going to have to pass through and what is the timeline? that's the most critical question for anyone exposed to this stock right now. when is it all going to happen? >> well, this is it. we've got earnings estimates cranking up for 2026 on the optimism of this performance. the stock is 240.

you have share at 80 pe. he has to get 70 cents a share out of the earnings call just to deliver next year's story. that's the first hurdle. that's way too early in my opinion for this to happen. he is lucky if he gets remember st regulatory approval by 2028. that's just a guess and not doing city rollouts like waymo has done for multiple years. also with musk, he's going to be a visionary. he will put timelines out there that are aggressive and everybody needs to talk it back. at the top of the show, dan, that's what you need to do. my thinking is the scenario of '27 or '28 when it is something we will see something outside of the small area demos. >> john, super quick.

ten seconds. how do you rate the stock right now? just remind me? >> we have a value score of d. a growth score of d and momentum score of a. a number two or three. decent short-term ranking, but basically momentum trading and moving from 100 to 200 to 250 is the range. we're at the top of the range right now, dan. generally speaking, it's a hold. >> okay. we'll leave it there. john, appreciate the conversation. chief equity strategist at zacks. a quick check of futures. major markets are lower. more on this with "worldwide exchange" which starts right now. stay with us. (man) look at this silly little sailboat... these men of means with their silver spoons, eating up the financial favors of the 1%. what would become of them when they discover robinhood gold allows others to earn

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it's 5:00 a.m. here at cnbc global headquarters. welcome to "worldwide exchange." here's your "five@5." wall street tries for three in a row with stocks at all-time highs, however, futures are under pressure. the next test is the cpi report today and the next guest is bracing for an upside surprise. whip saw action around the world as chinese stocks surge on fresh stimulus measures erase mass