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welcome to "street signs." i'm dan murphy. let's get to your headlines. first, data drop. exports rise 1.6% in september as consumer inflation slips. we're seeing chinese stocks close shigher as the finance ministry insists there is more room for stimulus. the uk prime minister keir starmer expected to pledge to rip out the bureaucracy as his government prepares to unveil a 50 billion pound of new capital. the ceo of viva weighs in. >> we have vibrant cities and great universities. we have good rule of law and strong regulation. those are all things that make the uk attractive and we see others feel the same way.

i think we have to be positive about that. and auto executives s gathe for the paris motor show after some slew from the profit warnings. the ceo talks about trade protectionism. >> we have nothing against free trade as long as it is fair. i think the tariffs are regulating the situation. it is offering an electric car for 50,000 euro. warm welcome into the program. great to have your company over the next hour as we walk you through what's moving across asia and europe ahead of the u.s. open. let's go straight to the markets here. first to the heat map which is showing some mixed trading signals today. you can see the stoxx 600 better by .3% right now. of course, we are seeing equity markets here with a mixed outlook right now.

that's despite the positive lead from asia and the strong friday close from wall street. the strong note is the health of the chinese economy. let's take a deeper dive into europe here and from the indicie specific is the markets trading higher. london's ftse up 2%. the paris cac 40 and ftse mib moving up as well. dax suppis up .50%. we have luxury stocks in focus today. we are counting down to the ecb meeting thursday where a .25-point cut is due out. let me take you through the top gainers here as well. helping to move the markets higher right now are these

sectors, technology leading gains up .8%. telco and financial services and industrials moving up. the top decliners helping to cap or limit some of the upside in the market at the moment are these sectors. right now, we are looking at losses being led by the likes of travel and leisure down 1.5%. china in focus today with the exports up 1.6 on the year for the yuan. imports having been pflat in th prior month. consumer inflation dipped coming in at 0.4% for the year and falling short of expectations. that's down from 0.6% in august. producer price inflation sank 3%

on the year. more than and expected and more than 8% decline. we have seen chinese equities getting whipsawed as they respond to the finance ministry that more stimulus is on the way. the finance minister told a briefing start that the country will issue more debt to boost its beleaguered property market, but did not offer much detail. sam vadas is in singapore. >> traders reacted to the ministry of finance as well as the latest inflation data while policymakers didn't announce any quantifiable fiscal stimulus on saturday. they announced two which was debt and the profit seperty sec. housing inventory and banks

re re recapitalization. the people's congress is expected to meet at the end of the month. there are diverging views if the mof met expectations. others believe the market was unrealistic with the expectations. others were encouraged by the forward guidance. many believe more concrete steps need to help out consumption. for now, the message within china coming from media and financial commentators is one of patience and faith. we will get the q3 gdp print on friday. in singapore, sam vadas, cnbc business news. >> let's bring across what is happening in the chinese markets. the hang seng pulling lower by .83%.

the shanghai market and the shenzhen pushing higher. zhang is up. stimulus talks were, of course, a primary catalyst here. no dollar figure announced as sam just mentioned. analysts are encouraged that the policymakers are talking about action. that led to positive reactions as well. goldman sachs like it. they say the measures could put g gdp closer to the 5% growth target torfor the year. the devil is in the details here. we have to wait and see what the policymakers do next. we flagged what the major indivisces are doing. the first is the miners. we have seen oil pulling lower

today as the three-month copper on the lme pushing down as well. mining companies in europe look like this as a result. the majors here, rio tinto and b bhp, in positive territory. the others are lower in the session. european luxury is in focus this hour. another key source of demand with the concerns of the health and strength of the chinese economy has been pulling this sector sharply lower today down 3.5%. lvmh down 2.66%. burberry also losing ground. as i mentioned, goldman hiked the forecast seeing the world's second largest economy growing 4.9% versus the 4.7% expected. the lender has raised its 2025 growth forecast to 4.7% from

4.3%. let's get more insight and reaction to this with janet mui. she is head of rbc. i want to get your take on what unfolded in china and what was announced on saturday. as i mentioned, investors here, perhaps, disappointed by lack of detail, but china market investors, on the other hand, encouraged by the willingness that we've seen from policymakers to do more. what did you make of it and what is the ultimate end goal here? >> good morning, dan. thanks for having me. i think these are steps in the right direction. i agree we have to be a bit more patient. i don't think china's structure problem can be fixed in a short period of time. i think they indicate they are willing to do more despite the lack of detail. i also think that maybe its better for the authorities to have a clear think through of the actual policies needed and how to implement rather than

just rushing through. i think as long as there's willingness to tackle the issue which is the housing sector and addressing the inventory and re-capitalizing which will allow banks to lend more to the real economy and supporting household consumption are the right steps and we will closely watch the implementation. overall, i think it is overall a positive direction. >> okay. ove overall positive. goldman sachs with agree with you. they raise the guidance to 5%. that is the magic number for policymakers. are you worried about the impact that this will have on the economy? others say there's not enough detail here as i mentioned. >> there have been so many measures they announced already and lower interest rate directly with relieving pressures for

households and companies. i think that is helpful. also, the ministry of finance saying they will follow through with increasing the budget deficit for the rest of the year. that will be more immediate fiscal stimulus into the economy by the end of the year. that should help to reach the 5% growth target. i think there is a number of cushion being provided to the economy. i think the worst is probably over. so, i do think we have to wait a bit. i mean, the stimulus measures were just announced a couple weeks ago and we probably have to wait until, say, the end of the year to really see the real economic data to see whether we will see the real impact. i suspect that we'll see civilization of the economy because of all these measures. >> okay. that's a fair point. if stabilization is coming through, walk me through what you think this is going to mean

for equity markets moving forward. i think this is going to be really, really interesting to watch. we're already seeing the shanghai and shenzhen market positive ytd. shanghai up double digits and shenzhen ytd. are there certain tries or sectors that could benefit the most to this approach to stimulus? >> i think the news on the bank re-capitalization is good because there has been a lot of worries of profit margins and bad loans for example for the state banks. obviously, it is clear the state will underwrite the credit risks for the banks. that would be good for the chinese banking sector to take more risks to lend in areas that need credit the most other than those that get most of the credit. also, i think consumer or staple or discretionarybenefit.

so far, we like the household support. there are rumors of plans to support the second child or more for households. a direct cash handout. we have not heard the real -- the real policy. i think that that will have to come at some point. once we really get those real actions, then i think it could be really quite supportive to these sectors. >> janet, stay with us. i want to bring viewers across with breaking news. we have just seen china release the dollar denominated numbers for imports and exports. on the export side, 2% year on year. that is below the expectation of the plus 6% gain. on the import side, just a .3% increase. falling short of the .9% expected by reuters. these are the dollar denominated figures for imports and exports. i want to bring you across with

the yuan denominated numbers. up .47% and .41 % for the year. the trade picture in china continues to evolve very much in a mix to negative situation here. i want your take on what all of this means moving forward, janet, particularly as policymakers try to combat two things here. the first is regarding the domestic demand situation in china and the health of the consumer where we have seen a number of issues being raised. the other thing to point out is the external challenges the economy is facing. geopolitical tensions and rising trade tensions impacting the broader economic outlook. ja janet, fwhirst what you have se from the trade numbers and the health of the economy as well. >> china has been doing okay

throughout this year which is quite surprising given that the global manufacturing sector is actually in a down turn. i think we are starting to really feel that on the chinese exportsers already. i think on that front is not very optimistic given that the u.s. elections are around the corner and i think whoever is in the white house will be tough on china anyway. that is a big risk. i think the chinese government well understood this. that's why they want to focus on domestic consumption. that's why they're pulling this package of stimulus to help support all sectors of the economy. the most important is the housing sector, but also across businesses and labor market is one they are trying to support. i think there's a sense of urgency recognizing there are headwinds from both domestic and international which is going to intensify. i think the thing we would

expect is more stimulus. i think it is really a technical moment for china to rescue and going to counteract the deflation mindset. >> indeed. janet, before i let you go, how do you expect monetary policy to evolve as a result? what is the pboc reaction function? >> obviously, we already have the requirement and lowering of the interest rates. i do think that on the monetary policy side, there is room to do more, specifically as the u.s. is cutting interest rates. at the same time, i think they need to maybe do it more incrementally and observe how the data comes in because we -- the problem is the demanded of

credit, not the supply at the moment. it is good to boost supply. cutting the interest rate, i think they better save firepower when it is needed. i think they will do it more incrementally. of course, it is all data dependent. >> indeed. ja janet, we'll leave it there. i appreciate the analysis. i appreciation the conversation. janet mui at rbc. i wanted to get you an update on the oil prices. chinese demand has been a clear concern in this market as well. certainly overshadowing the geopolitical tensions we see in the middle east. right now, wti sub 75. $74.71. down by 1.5%. brent at $77.93 and well off the 80 usd level.

pulling back 4%. in the region, hezbollah has killed foursoldiers and injured more than 50 others. it is one of the deadliest attacks in the group in over a year. the chief strategist told me earlier today an israeli attack on the iran oil bases would have a dramatic effect. listen. >> you know, still this is going to have a dramatic effect. it will rattle the nerves of the oil markets and i'll tell traders out there will love the volatility. they live for it. give them a market that moves. give them a richter scale market. the worst thing they can imagine is a flat line market with no heart beat. we have to lock and load and get ready for the next few weeks, dan. >> john driscoll there. up next on the program, the

uk government kicking off the investment budget. we'll bring you the latest when we come back in two minutes. stay with us.

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welcome back to the program. f fitch has revised the outlook for france. the rating agency sees a steep rise in the government debt levels to 118% of gdp by 2028. it also saidfrag m implementation to hin after expectations. we have charlotte with the latest. charlotte, it is not just debt and deficits, but the rating that has analysts concerned. >> reporter: yes and almost an un unsurprising change to negative there and the stark warning that the debt in 2018 woulds higher than now at 112% and now 118% by

'28. the new economy minister reacting to this saying they are taking note and the budget they presented by his government showed a determination to direct the funds of the country. of course, they presented that budget last week. they had to tackle the deficit this year at 1.6%. they want to bring it back to 5% next year. fitch expressing doubts if that is doable. 1.5% next year and the one after and doubts about the 3% target by 2029. they say that is going to be difficult and one of the issues is the political fragmentation. we know it is fragmented national assembly. the finance minister relying on th the minority government. they try to tackle some of the issues on the deficit. that's really what's at stake

there. there will be more ratings review coming up by moody's. with fitch warning and switching to negative, there is a lot of pressure on the french government down the line of what will this government propose and what will they put forward in the debate in the national assembly coming up. very fragmented national assembly. that budget they will put together will be ex-ttremely difficult. >> indeed, charlotte. you have been reporting on this over the last couple weeks doing a fantastic job uncovering the an angles. economists expressing the doubts of reining in the debts in a short amount of time. should we expect any policy announcements between now and the debate? >> reporter: we have to wait and see. ag again, we hear a lot of

criticism with the far right and far left on some measures potentially on pensions. pushing that further back and they say, look, this is a red line for them. we have to wait and see. the government says give us your suggestions on how to tackle the situation. it is tricky. we are at the paris motor show and we will speak to the ceo in a few minutes. it will have an impact on the businesses. incentives on the evs that is part of the budget that will be taken away because the government cannot afford them. what does that mean for the demand for evs in the country? the demand has been weakening. the government cannot afford them anymore. they are streaming them back. you are seeing that from other european countries. that is ramification of day-to-day life of french people with the deficit and debt there and the impact it has on people's lives and whether they can afford the car or not.

>> yeah, absolutely. really, really good point. charlotte, back out to you in the program. thanks again. let's shift focus over to the uk with the labour government is set to welcome more than 50 billion pounds of investment in the economy today according to sky news. the potential announcement would dwarf the 28 billion pounds announced at the last event pledged from the previous administration. dp world is going ahead with a 1 billion pound investment in the london gateway port. the company had put plans on old over two ministers. speaking to sky news, the uk business secretary said the investment was confirmed after talks with the dubai-based firm. >> specifically with dp world, what happened was wrong. we believe it was wrong. the government at the time, conservative government believed it was wrong. the problem was it was legal.

we are changing that situation. we can work with them. we've had to have a conversation following some of the press reports. >> it could have gone? >> it's gone ahead. >> this is pretty awkward. >> look, it's part of the set of incesvestments that are underpid by it had a stability it didn't have before the election. and macquarie is set to invest into the uk. the funds are expected in the energy, water waste and transport sectors in the next five years as well as data centers. uk prime minister keir starmer is setting aside priorities for the competition and markets authority when he addresses the government investment summit later today. up next on the show, we wil

interview with the citroen ceo. stay with us. that's next. , hitting that win with your crew. ohhh! yes, see defense! or way up here with a same game parlay. yaw! betmgm's got your back. get your welcome offer. and play with the sportsbook born in vegas. all these seats. really? get up to a $1500 new customer offer in bonus bets when you sign up now. betmgm. download and bet today.

welcome back. great to have you. this is "street signs." i'm dan murphy in abu dhabi. first up, china trade disappoints as consumer inflation slips. plus, we are seeing chinese stocks close higher after a choppy session in asia. the finance minister insists there is ample room for stimulus, but leaves investors hanging on the details. and uk prime minister keir starmer is pledging to rip out the bureaucracy as his government prepares to unveil 50 billion pounds of new capital. the insurance giant viva weighing in. >> we have a good rule of law. we have strong regulation. those are all things which make the uk attractive and we do see

others feeling the same way. i think we have to be positive about that. and auto executives gather for the paris motor show with the sector still reeling from the profit warnings. the ceo addresses the rise of protectionism. >> we have nothing against free trade. i think the tariffs are regulating the situation. even for us, it still permits us to offer a car below 20,000 euro. we are okay. welcome back to the program. if you are just catching up across asia and europe, as we track into the u.s. open, the primary focus for us today is what just unfolded this weekend in china. let's give you a recap here beginning with what we have seen in trade data. we have seen dollar denominated

trade figures dropping here. we love a big number here on cnbc. this is the one to pay attention to right now. the chinese trade such plus at $81.71 billion in september. that's down from $91.02 billion in august. we saw exports up.4% from a year earlier in september, but down from an 8.7% increase in august. of course, the exports here growing at a slower pace in september, but still extending their growth streak to six c consecutive months. exports in china still managing to hold up despite concerns about external demanded. at the same time, imports up 3% on the year compared with a .5% increase in august. in terms of the yuan denominated side. i mports up .4% for the year. in september, yuan denominated exports up .62% for the year.

markets, of course, reacting to this. at the washout in asia, we saw chinese equities on the mainland climbing higher. the shanghai up 2%. the shenzhen market rising 3%. the chinex up 4% as well. that is despite analysts saying the policy pledge we saw from policymakers over weekend was underwheming. long on intent. what we are looking for now is what type of announcement those policymakers will make ahead of the mpc which is closer toward the end of the month. even though we have seen no figure unveiled at the weekend in terms of stimulus, market investors, as you see on your screen, are encouraged they are talking about doing something. the reality is something here is better than nothing. let's bring across the translation for europe as well.

when it comes to the european equity trade, markets are pulling higher as well. on the heat map, we have seen a reversal from the earliier gain with the stoxx 600 down 0.3% weaker. here is a deeper dive in the market specifics here. the health of the chinese economy is front and center, but the luxury stocks are also in focus. in terms of the market move, the london ftse down 1.1%. the paris cac in negative territory. the ftse mib is eeking out modest gains. in terms of what is moving part of the market higher, here are the top sector gainers right here right now. when it comes to the overall performance, i mentioned technology last hour and continuing to lead gains here up by just under .50% of 1%. telco and insurance also moving up. here are the bottom performers

and sector losers. when it comes to what has driven the reversal in the last 30 minutes, you see travel and leisure is down 1.1%. you see household goods and basic resources are down as well. you see commodity prices pulling lower off the back of chinese demand concerns. we are coming into the open of trade on wall street. let's give you a live look of u.s. equity futures. when it comes to the open, the dow is down 50 points. nasdaq and sa&p 500 to eek out modest gain. investors like the numbers they see so far from the q3 earnings front and the big banks, jpmorgan and wells fargo helping on friday. the u.s. presidential race is locloser than ever with thre

weeks until polling day. aaron gilchrist has the latest. >> reporter: both former president trump and vice president kamala harris are on the campaign trail almost daily now. >> we like hard work. >> reporter: this as the new nbc poll shows the presidential contest deadlocked at 48%. the polls shedding light on the gender gap. harris ahead with women by 14 points and more men supporting trump by 16 points. the vice president in battleground north carolina speaking from the church in greenville launching a black init initiative. souls to the polls. >> early on, i learned faith is a verb. it is something we show in action and in service. >> reporter: later at her rally, challenging her republican opponent. >> i do believe donald trump is

an unserious man, but the effects of him being back in the white house would be brutally serious. >> reporter: trump in arizona tonight after rallying in california on saturday. the candidates drawing attention to their medical records with harris' doctor on saturday saying she is in excellent health and has the resiliency to be president. harris criticized trump for not releasing detailed medical assessments. his doctor's letter last year saying he is in perfect health. >> the campaign rolls on. so does the data. u.s. propducer prices pulling back from august's 20 basis point increase and coming in 1.8% higher for the year. this as consumers 12-month inflation ticked up to 2.9% from 2.7. it was a strong show from the

banks on friday from some of the largest lenders in the land help push the sector to the highest level in a year and a half. >> analysts were trying every which way to get a sense of various inputs to help inform net interest income next year, but despite the lack of clarity metric for loan making, both stocks did soar on the arnings. wells fargo ceo said they are close to the trough on nii. deposits ks costs are a big fac, but so is loan demand. the 50-basis point reduction in rates is helpful, but not the sole factor to drive people to borrow epts esspecially with th uncertainty with the election. there is more visibility toward the end of the year. it was also discussed on

jpm jpmorgan's call as well. >> guessing what nii is going to be next year. guidance points out nii, all things being equal is a number, but all things are never equal and the yield curve -- if you have a recession, the effect on the yield curve is different from growth. >> the current market consensus of nii is 37% for next year which is closer to the he can p expectations, but topy. for cnbc business news, i'm leslie picker. and the ceo of stellantis could not rule out job cuts and competing with chinese rivals would require a huge effort and could include closing plants or offloading brands. they are expected to focus on the evs on the paris motor show

as they look for market share and regain momentum. charlotte reid is live on the gro ground and speaking with top executives. charlotte. >> reporter: thank you, dan. i'm pleased to say i'm joined by thierry koskas, ceo of citroen. he said many times this is a darwinian period for the auto industry. how does that play out for citroen in europe? lower demand and evs are expensive. chinese competition coming here. how are things looking out for citroen? >> we are in a tricky economy. we are looking at gaining market share. the brand is really on the move. the main challenge that we have to face is electrification. as you know, next year almost a fourth of the cars we need to

sell are electric. it's a big challenge, but citroen is well placed because we are introducing with the ev-3 which is very affordable electric car. that will help generate a natural organic demand for electric cars in the future. >> reporter: the evs are very expensive. the ev-3 under 20,000 euro. that has been a barrier for consumers to get the cars. we have seen chinese competitors coming in cheaper models. >> you look at the price and the range and charging. we are addressing the price at 23,000 euro starting price for the new ev-3. next year, there will be a version at 19,900 euro.

it is starting to be very compe competitive. regarding charge, we have fast charging. then the charging is very much depends on which country has to promote the installation of the charging point. >> we have seen incentives to help people buy some of the ev. they are starting to roll them back. we saw the latest budget proposal here in france taking away the incentives. is that concerning for you potentially? >> to be honest, it is not surprising because we know in the long term, there will not be incentive anymore. if we rely on incentive, that's not going to work. we need to be able to have production costs that competitive even without ince incentive. frankly, today, we are reaching

that and narrowing the gap between makers. we know that in the long term, the incentives will disappear anyway. >> may i ask you about tariffs? of course, a few days ago, you said tariffs up to 45% for chinese imports here. are you in favor of the tariffs or are they counter productive? counter productive for job cre creation in europe and evs and moving to net zero target entering a tit-for-tat trade war? >> it is very clear we should not rely on the incentives to continue to make tariffs to continue business. that doesn't make sense for a very simple reason. it's tariffs that can come and can leave. they are not present everywhere. i was talking this morning to indonesian journalist where

citroen is selling cars. we face strong chinese competition. there is no tariff to protect whoever. at the end of the day, if it is in europe, it is going to be in other countries. we need to be able to face the chinese competition with the same field which is the production costs and not to rely on tariff that would make us softer on the fight for competitiveness. at the end of the day, it's dangerous. >> may i ask you, because a few years ago, i was talking to european carmakers and they said customers will not switch to chinese cars just like that. they don't know the brand and they don't trust. was there complacency for the european carmakers with the chinese automakers coming to europe? >> i think the context of ten years ago, it was very different. we have to recognize the chinese

car industry made a lot of progress on the technology and on the design and whatever. what was true ten years ago is now different because you have an attractive offer. now we have to fight. as i said on the production costs, we also have a great asset in europe which is we have been here in more than 100 years. we have very, very extensive network. more than 4,000 selling points for citroen. we can refer a great local presence which i think is a method for a brand like citroen. >> thank you very much for your insight. dan, back to you. >> charlotte, excellent insight. thanks for that interview. charlotte reid live on the ground at the paris motor show. we have more on the paris motor

show in the coming days. don't miss the interview with vice chairman brian gu from xpeng. coming up, the earnings season with stronger than expected profits. we will breakdown the details on the other side. as we head to break, we will leave you with the pictures from spacex's most ambitious test flight. catch this. successfully catching a booster thecnil arms. extraordinary. stay with us.

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welcome back. it was a strong showing from the banks on friday. better than expected profits from some of the largest lenders helped push the sector to the highest level in a year and a half. first out of the gate was blackrock beating expectations and quarterly inflows pushed on the bottom line.

wells fargo sending shares 4% higher. and shares touched a new record after a 37% jump in investment banking fees helped offset the decline in interest earnings. the banks continue to report this week. let's get more on this with the senior vice president of the american financial institutions at morningstar. >> good morning. yes, results so far came in better than expected. you know, jpmorgan with a 16% return on equity which we will expect will lead the industry. wells fargo at 11.7%. we expect similar ruesults from

the other banks this week. headlines suggest a soft landing is imminent. i think that's a bit premature given we're in a complicated operating environment. you know, we'll see how it all plays out. >> indeed. just speaking of the operating environment, what guidance did we get from the likes of jpmorgan and wells fargo regarding expectations for net interest income in the coming quarters as we see rates, perhaps, coming down in the united states moving forward. clearly this will have an impact on the sector. >> sure. net interest income dominated the conversation as the equity analysts are trying to model out the numbers. we're not as fixated on that. you know, jpmorgan continues to perform well, you know, on the capital ratios over 15% which is over 300 basis points of regulatory requirement. as a credit rating agency, we

like to see that conservatism to save their dry powder if the markets turn. jamie dimon echoed that on the call. again, expressing conservatism is prudent at this juncture. we're more fixated on the fundamentals which remain strong for bank bond holders. again, with lower interest rates, that shouldn't prove loan demand over time. we're just at the beginning of that. we'll see again how it plays out. >> okay. we are watching that really closely. with regards to what's in your wheelhouse at morningstar, with regards to anticipated regulatory pressures, you mentioned capital requirements as well. any in the sector right now? >> the speech earlier in september relative to capital requirements not being as

strstrij e stringent. we will see it doesn't make sense to buy too much back. we'll need to come out before anything gets finalized. again, from the credit perspective, banks look to be in very strong shape. asset quality metrics remain strong as expected. that being said, you know, it's a very confusing operating environment. we'll wait to see how things shake out. from the credit standpoint, fundamentals remain very strong. >> and, of course, a number of key points being raised during the earnings call as well for both jp and wells. what concerns you the most in the operating environment? walk me through it? >> obviously, what's going on in the middle east and europe. how that plays out remains to be seen.

rate cuts just began. i believe it is too premature to say it's all clear. you know, on the fundamental side, loan growth came in weaker than -- muted again with only growth in cards. on the outflow, deposit costs and yield seeking has calmed down. we think the net interest margin is on a positive practice trajectory through 2025. trading results remain very strong. well above pre-pandemic levels. this bodes well for goldman sachs awhich reports later in te week. we expect them to report favorable results as well. >> okay. before i let you go, walk me through the expectations. any key figures or trends you

will be looking out for for the rest of the bank reporting season? >> well, bank of america also reports this week. with higher rates, their stock got hit a little bit. they are more liability sensitive. we expect net interest income to be favorable. goldman sachs and morgan stanley, morgan stanley generates half of the wealth. we expect morgan stanley again and goldman sachs to report returns on equity at least 10% or higher. so, you know, we'll see how you it all plays out. as it gets back to the credit rating agency, fundamentals are strong with lots of liquidity and capital. asset quality remains credible. we expect more of the same despite a ckconfusing and complicated time. >> right.

right. michael, i appreciate your analysis. thank you for joining us. stay with us here onnb cc. "worldwide exchange" starts right now. has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even a term policy! find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com.

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it's 5:00 a.m. here at cnbc global headquarters. welcome to "worldwide exchange." here's your "five@5.