and saying the verdict is unjust. we asked him and julie's attorney and her friends and siblings, any of them, to sit with us on camera and talk about julie-- if nothing else, to defend her. all declined. thank you very much. keith morrison: jason harper was 39 when she killed him, and now julie harper will grow old behind bars, alone. craig melvin: that's all for this edition of "dateline." i'm craig melvin. thank you for watching. ♪

welcome to "street signs." i'm dan murphy. let's get to the headlines this hour. crude prices tumble as israel will not target nuclear oil as the international energy agency issues a sharp slowdown. we will hear from toril bosoni shortly. and sweden surging to the top of the stoxx 600 on the back of the core earnings beat. the ceo discussing this on cnbc. >> america was the first to rollout 5g and, of course, they were the first to, therefore, slow down the pace, but they are coming back. i see optimism see coming here. in the markets, the stoxx 600 edging higher tracking the s&p 500 after it notched its 46th record close of the year.

investors piling money back into big tech names and market darling nvidia. and european automakers look to tackle competition from china at the paris motor show. brian gud tells cnbc the eu is looking beyond restrictions. >> tariffs is something we had to deal with and puts pressure on the model, but long term, we need to find every possible way to address and make ourselves competitive. welcome to the program. first to breaking news. the international energy agency out with the latest oil market report. world oil demand is expected to increase by 900,000 barrels per day this year and close to 1 million barrels better day in 2025. that is a major decline on previous years.

the iea pointing to china saying it's expected to contribute 20% of global demand growth in both years. that is a stark contrast to 20% last year. non-opec countries will drive growth of 1.5 million barrels per day this year and next with americas counting for the bulk of the gains. take a look at the figures and this is in stark contrast to opec. in 2024, iea expects oil demand to jump by 900,000 barrels per day. that is 1 million off the opec forecast which it revised down last month. in 2025, iea sees demand growth growing close to 1 million barrels a day. that is down from almost 2 million per day in 2022 and 2023. opec is down from 1 million down

from 1.6 million. take a look at this. the two are widely split of when oil demand is expected to peak. iea saying demand falls after 2030 while opec sees ongoing demand growth for another 15 years and beyond. here to expand on the latest survey is toril bosoni. welcome to the program. first of all, as we look at latest projections, walk me through the growth divergence here. there are still 1 million barrels between you and opec. how do you explain such a sharp difference in growth oil demand projections? >> good morning. thank you for having me on the show today. what we see in terms of demand is really, as you say, a sharp slowdown in growth from last year and the year before. we have to bear in mind the strong growth we have seen in recent year comes after the

pandemic and opening up of the economies and lower restrictions. really, the growth we saw in 2023 and 2022 was unusual in historic terms. so to trourn to less than 1 barrels a day is in line with historic trends and gdp of 3% we expect this year. lastly, what we are seeing is new technologies such a surging ev sales is really taking a dip into oil demand growth in particular in china. >> toril, expand on that for nece me because the growth of the demand is on the back of the chinese oil demand outlook. what are you seeing right now? >> there's a few things we see in china at the moment. obviously, the economy is struggling after the very strong growth we saw in the post-pandemic rebound.

the property market has been very weak. we see the government putting sdim stimulus measures in place, but they have yet to take effect. what we are seeing is 1 of 2 cars in china being sold are electric. high speed trail and trains and trucks fueled by natural gas inn s instead of diss of diesel. we are seek the chinese population declining here. this is slowing the growth of oil demand going forward. demand now is mostly driven by the petrol chemical sector rather than the fuels. >> toril, this is front and center for the global markets.

what we can see is chinese demand is growing. i want to expand on this. iea saying the oil demand may peak by 2030. opec seeing growth since 2045. opec says your projections are quote dangerous for the industry. can you respond to that? on the other way, how can you trust the projections when they are so different? >> we update our numbers on a monthly basis. for the chinese demand growth, we have seen for last five months, chinese growth decline. we have seen data from the chinese official sources and chinese oil demand fell by 5 500,000 barrels a day year on

year. the oil demand currently is less than -- it's more than 2 million barrels a day lower than it was in 2019 before the pandemic. we are seeing the structure changes impacting oil demand growth in china and in the oecd and other mature markets. of course, we continue to see growth in emerging and developing economies, but over the past decade, china accounted for more than 60% of global oil demand growth and with china now as the engine, the key engine of oil demand growth slowing and its economy changing gear, we are looking at which countries are taking up. of course, we see continued growth in india and brazil and other southeast asian economies, but not at the level we have seen from china and other countries and what's underpinned of slowing oil demand growth for the end of the decade for the

peak toward 2030. >> do you believe we could see a peak before 2030 as a result? >> it depends. what we are seeing now is an uptick on clean energy technologies. be it investment in evs or in heat pumps or taking out power generation in the middle east, or instance. any of the changes will have an impact on the market demand going forward. our latest projections is oil demand will continue to grow for years to come, but that will slow as we move toward the end of the decade or our latest forecast is the peak or plateau will be around the turn of the century. of this decade. sorry. >> toril, i have to ask about the geopolitical outlook particularly here in the plmidd east. how are recent tensions

factoring into your projections? >> we know the market is concerned about the geopolitical tension notice middle east and we are following these closely. now we are seeing and we can see from the day-to-day price moves when following the news flows, but what we're noting is that supply so far has not been effected in the middle east from the escalating tensions between iran and israel. what we did see last month is libya production was taken offline due to the domestic political dispute. we are seeing other risk to supply from hurricanes in the united states, for instance, but so far the losses and disruption to supply have been minimal. this is, of course, what we are looking at going forward. we see other producers at historic high levels. other countries across outside of the oecd are still holding

significant volumes of inventories that could be used in case of disruption to supply. lastly, we note that the market is looking at the sur pplus as move to 2025 because of the strong growth we see in the countries, especially in the americas, on paper that exceeds the level of demand growth we're expect in the market. >> indeed, with all of that in mind, are you concerned by opec's current stated plan to bring barrels back to the market by the end of the year? as a final question, where do you see pricestrending from here? we obviously come through a september slump. what does year end look like for brent and wti? >> of course, we see -- we note that opec is planning to bring oil production back into the market starting in december, but they have continuously repeated that bringing back those barrels

will be dependent on market conditions. so, if market conditions warrant, they will bring the barrels back. if the market is supplied, they may delay or postpone or reverse some of the increases. up to now, they balanced the market. we wait to see what will happen. of course, it is reassuring to have a rather well supplied market in light of the rising tensions and risk of supply we are seeing in the market at the moment. >> and just quickly on prices? >> as you note, prices remain volatile given the rising tensions, but we will wait to see what happens. >> okay. toril, i will leave it there. toril bosoni with the latest on the crude patch. do stay with us on the program. we have more coming up. oil stocks in focus.

they have been weighing on european markets on the back of falling crude prices today. ouch. down 3.5% in the asia session. we will breakdown the latest market action when we come back. stay with us. ther you're courtse trying to hit the over... or up here trying to hit the under. whew! or, 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.

♪ ♪ with so much great entertainment out there... wouldn't it be easier if you could find what you want, all in one place? my favorites.

get xfinity streamsaver with netflix, apple tv+, and peacock included, for only $15 a month. - [narrator] life with ear ringing sounded like a constant train whistle i couldn't escape. then i started taking lipo flavonoid. with 60 years of clinical experience, it's the number one doctor recommended brand for ear ringing. and now i'm finally free. take back control with lipo flavonoid.

this is "street signs." on cnbc. let's take you straight to the markets now. here's how europe has been trading through the course of tuesday's trading day. here is the heat map. the stoxx 600 is unchanged now. not too much to really move markets in one particular direction. we have a bias to the down side right now. european share are scaling fresh t two-week highs. telco is in morning trade. let's dip into what is moving at the index level here. when it comes to what's actually moving the markets, you see the london ftse is down .50%. stocks in paris are down 1.75%.

the dax and ftse mib with eking out modest gains. with the top winners and losers here. i mentioned telco and travel stocks in focus. media and utilities helping to edge the market higher. in terms of sector losers, oil and gas in focus today. energy stocks slumping. tracking the slide we saw in oil prices after a report said israel has told the united states it will not strike iran's oil facilities. that, of course, eased fears of the potential supply disruption and took froth out of the market. oil and gas down 2.8% right now. basic autos are down right now. ericsson reporting an earnings beat on sales citing

the north american market. it reported lower sales in southeast asia and india. it is trading 8.8% higher. the ceo told cnbc why the markets are flagging. listen in. >> rolled out at an unprecedented pace in 2023. it basically covered india with 5g in a very short timeframe. i think we've never seen such a fast rollout before. that, of course, increased sales in 2023. of course, coming back and more normalizing now. we see still continued good growth opportunities in the region in india, but we some it also in other parts of southeast asia. of course, you know, our presence in china is much lower than it was before. that is, of course, hurting us a bit. the ecb says demands for

bank loans rose in the third quarter with household mortgages leading the way as the bloc's central bank loosens policy. that is bad news for the banks with the lending margins set to tighten impacting profitability. of course, earnings season rolls on with several major blue chips reporting on both sides of the atlantic. we will get wall street big names and including goldman sachs and bank of america and citi. in ueurope, we hear from lvmh ad morgan stanley and then on thursday, netflix and in europe, netflix and abb. we have laura cooper at newbearn. laura, welcome to the program. clearly a lot of factors at play. of course, china front and center right now. what are you telling clients

about the china stimulus and investment outlook? >> i think so far the china stimulus has underwhelmed expectations. we are waiting for signs if they willsuccessfully implement some of the measures. i suggest it shows upside risk for china. overall, the positive spillover effects to the market economies more broadly is still uncertain at this point. i think we are tankking a cautis stance on the chinese growth back drop in particular. >> laura, really interesting. you are taking a cautious stance. i've smpoken with other analyst today who have known president mar money in the markets. >> i think if we speak to china in particular, we need to see signs of greater domestic demand. we looked at data last week and

it suggests deflationary pressures. it shows the economy is still under pressure. we have yet to see the consumer sentiment with the up swing. i think that is the catalyst we're looking for. you with suprovide the supply side, but the demand side is the case. if utility toward overall market economies and what we are seeing playing out in markets there is a confluence of expect tations monetary policy easing and firm economic growth and fairly resilient earnings. there isn't necessarily a catalyst in the near term to dissuade investors to pile into the markets. i certainly think there are risks on the horizon and china and china growth is one of those factors that it could contribute to greater volatility going forward. >> okay. fair point. so, where is the bull case right now? we are, of course, coming into

what could be another rate cut from the ecb this week. do you like european equities in this environment? is that perhaps somewhere you are looking as an alternative? >> there are headwinds facing europe and that translates into the cautious stance toward equity. what we expect to come through in the u.s. if you look at the december pmi gauges did suggest the economy is stagnating. we have inflation slipping below 2%, yes, it is likely temporary, but this is an economy with the robust signs of consumer spending come through. i think that's why the ecb is poised to cut rates later this week and i think it's going to be a challenging back drop because of the structure h headwinds facing the economy. if you think where the investor should position in the markets, it's really where we expect the soft landing to come through and

that's in the u.s. where we are already seeing signs potentially this is an environment where the economic back drop still remains quite healthy. >> okay. so, perhaps looking to equities in the u.s. over europe. what about within the fixed income space? we have been getting a lot of attention in this area especially with the 10/2 crossing the 4%. fixed income is part of the strategy? >> absolutely. there is the issue to invest in fixed income. these are still elevated yields particularly if you shift in quality across a number of spectors. we like high quality higher yielding debt. attractive income opportunity there. looking more toward the rate space, we are of the mind that curve steepening.

the large end is anchoring. we could see paring back from the fed comments. we think the term premium to come back into focus and investors are probably going to be more reluctant to take po positions in the long end of the curve with the u.s. election and the uncertainty around that because fiscal deficits are probably going to be more pronounced regardless of the outcome there. >> that's a really good point. look, we've spoken about the u.s. election, we've spoken about china. what would you say is the tailwind for investors is for q4? is there anything keeping you awake at night that your clients are coming to you asking about? >> investors really have to be quite defensive and selective in their equity allocations. i think geopolitics comes to

mind. oil is under pressure on the back of that. that adds to the view of greater volatility in the market. other risks we are watching for is on the inflation front. we had u.s. inflation surprise to the upside next week. that, if we start to see sequential month on month prints hotter than expected, perhaps the fed won't need to ease as expected. we are hearing chatter that the fed could pause. that's not our base case. we are tilting to the ease case. i think that is a key risk and on the other side f, if you loo at the employment back drop, the three-month trend is 185,000 net new jobs. if we see cracks in the labor force, we could see layoffs and that could prompt a greater

degree for the fed. there are a number of factors right now. certainly investors have to be aware and position for some of these key risks contributing to volatility. >> really, really fascinating conversation. laura, i wish we had more time. we have to leave it there. thanks for joining us. laura cooper at nuveen. let's get a look across asia. i mentioned theoil price declines. that is a catalyst for the market. hang seng down 3.7%. hong kong is 2.5% weaker here. despite the record lead from wall street. gains in taiwan are overshadowed by this market. you can see nikkei edging up.77%. we saw it peak after being

closed on monday for the holiday. staying in china, the company is set to raise $2.3 billion in what is expected to be japan's biggest listing in six years due to debut on october 2rd. lynn lin has more. >> reporter: operator tokyo metro priced the ipo at the top of its range. 1,200 yen per share which means the company is set to raise 3.48 billion yen or $2.3 billion. this suggests strong demand with reuters saying the listing was more than 15 times over subscribed. retail investors in particular have been attracted to the ipo which provides an implied dividend yield of 3.3% which is above its competitors which sits at around 1.5 to 2.5%. the listing is scheduled for

next mewednesday with both the central and tokyo governments selling half of their stakes in the company. the firm's stability in the transport sector along with the potential boost from robust tourism has added to investor confidence. analysts telling cnbc a strong showing from this listing could boost the overall ipo market in the country which has been down around 55% compared to the same time last year according to lseg data. lynn lin, cnbc business news. up next on the show, we will discuss a.i. and the chip wars with the ceo of saanmbova systems. stay with us. y you are watching cnbc.

welcome back to "street signs." dan murphy with you this hour. let's recap. crude prices tumbling after the report that israel will not

target iranian oil facilities and a sharp slowdown of oil demand growth this year. the iea's toril bosoni says the supply decisions will be key for the price outlook. >> if market conditions are wa warrant, they will bring the barrels back. it's reassuring to have a rather well supplied market in light of the rising tensions and risk to supply we are seeing in the market. sweden as ericsson surging to the top of the stoxx 600 on back of the core earnings beat in third quarter. the ceo discussing the outlook with cnbc. >> north america was the first to rollout 5g and, of course, they were the first to, therefore, slow down the pace and they are now coming back. i think we can see optimism

coming. and the stoxx 600 treads water losing momentum despite the 46th record close of the year from s&p 500. nvidia losing ground after hitting a fresh record high. and european automakers are looking at the paris auto show. brian gud says the chinese ev maker is looking beyond the tariffs restrictions. >> it puts a lot of pressures on this model, but a long-term focus brand we need to find every possible tway to address and make ourselves competitive. as we track into the u.s. open, let's give you another live look of how europe is trading right here and right now. first to the heat map. i flagged for you in the last 30 minutes, not too much to write home about. we are seeing europe's stoxx 600

down 0.09%. in terms of the indices, take a look at this. we have investors monitoring the ongoing corporate season and the stimulus outlook and counting down to the ecb decision on thursday for more clues on the outlook. london's ftse is down and cac 40 and ftse mib down. the paris cac has been leading losses. let's give you a live look at how u.s. equity futures are shaping up. still early days here, as we track into the resumption of trade stateside, the dow off 18 points as it stands. of course, tech in focus stateside and shares of nvidia losing ground pre-market after closing at a record high yesterday finishing the session 2.4% in the green. nvidia's market cap topping $3.4

billion making it the second most valuable publicly traded u.s. company behind apple. the competition continues. here's the translation for aaron ya' and through the course of the trading day. we saw most major markets pulling lower today. the chip stocks managed to pull higher. you see sk hynix up 2.8%. taiwan semiconductor up 2.3%. the u.s. is considering export limits on a.i. chips for certain countries with the focus on the middle east and persian gulfloo. it would limit the amount of chips shipping outside of the u.s. and span the initial cap that targeted china expeinitial. i spoke to the commander of u.s. cyber command admiral rogers who

said this may not prevent chochina from accessing that technology. >> the million dollar question is does it work? is it a strategy that precludes the ability of china or other entities from gaining access to some of the technologies? you have seen these regimes used. they have been largely effective, but not a guarantee. i don't think we should think it is a guarantee in any way. >> admiral michael rogers. where better to kickoff the conversation with rodrigo liang of sambanova. you just heard what the admiral was saying about the u.s. export curbs on the chips. do you think that is the right app approach? >> i think it is one where the

u.s. is thinking about how to protect its assets with the a.i. technologies. i think companies like ours that ship globeally, we want to enabe a.i. across the world. we are watching this closely. we think a.i. is a technology that affects everybody across the planet. it is a matter of how we do that in a manner to adhere to the way that the u.s. government is actually trying to manage this. >> and the reason i asked the question is because this could have really significant impacts on the global semiconductor supply chain. what impact might it have for your business? have you been doing any assessments on how this could ultimately change your own strategy? >> i think we continue to build technologies. we're a chip company that focuses on technology a.i. and we are driving technology to bring a.i. in broad scale and effectively. this is happening across planet. we are a main supplier to the

middle east. we want to continue to be able to advocate to be able to ship to that region. we do it in a way that the u.s. government follows those rules. i think the market is so big and we are seeing so much interest across the world that for us, it doesn't change what we do, but continue to provide competitive products and allow us to help our clients be able to use the technology in the way that actually helps them. >> okay. so, how do you see the competitive landscape evolving in the a.i. chip market now? you are saying you are sending some of your product into the middle east. if we saw regulatory changes stateside that could impact your business, i assume. what does this mean broadly for the market? >> look, i think the u.s. will apply these things consistently across the market and that's why we look forward to the fair playing field. if you look where we are, the pockets of where a.i. is starting to really takeoff

across the world is asia and japan and many seeing not ofmof segments across the united states. as a company that is emerging and focusing on production and driving hard to delivers that scale, it just means we reorder some things and how we actually invest our time in different re regions. today, it's still early. the process to ship to the regions hasn't changed. we will work with the government on that. we will watch it closely and see how things evolve and adjust when things happen. >> just out of curiosity, are you in conversation with u.s. regulators or authorities on this? >> no, i think we are always in constant conversations. to us, it's about making sure we stay on top of all of the different regulations that are coming, not only on the u.s.

side, there are things we have to make sure we follow on the importing side into other regions as well. it's something that we are very aware of and as a global company shipping to all these different regions, we will always be in closely touch with how the companies are importing and exporting technologies. >> what exactly are you send together middle east and where? >> we are sending hardware infrastructure that goes to train and inference models to the kingdom of saudi arabia and aramco. it is a great company that has done tremendous things focusing on how to take a.i. into production and naturally driving significant value for the operations day-to-day. today, we power their internal technologies for saudi aramco. we have been there for a year. we continue to deliver that technology where you're training

your private data into the models and be able to use it within your corporations to drive efficiencies in your day-to-day operaoperation. >> i appreciate you giving us context and understanding of exactly where the footprint is for sambanova and where it means for the regulatory changes we could see in the united states. rodrigo, let's push the c conversation forward. what is agentic a.i.? why is it different from other copilots? >> the world is going into production with artificial intelligence. by that, i mean you are starting to think about the little agents that can be very, very efficient and very accurate to do certain tasks and allowing you to start chaining these to work flows. if you think of the every day work flow the way humans work, it would do the portion of the

work and we fast on to somebody else. now, we are arriving at a point where artificial intelligence to create the agents and create work flows dynamically to operate in a very, very sophisticated and very accurate way that allows us to actually elevate the productivity of the work force and elevate the productivity of companies by being able to stream these and customize in the way the business works. instead of bots assisting one individual person, you are now moving into an area where than after prizes can create the work flow s to increase productivity. >> you know, as you say the race for higher a.i. inference speed clearly intensifyntensifying. how does sambanova plan to grow from here? the valuation is pretty rich. what's the strategy? >> in comparison to nvidia, valuations are for companies like ours, we still have i way

to to go. look, the world is still going into production by a.i. by that, i mean the models we have been training last three or four or five years are now going into production use case. that is inferencing in the world of a.i. as you see businesses take the investments they made in the last three or four years and training the models into these very large models and bringing them into production, now you are start ing to see the value come out. this is where the efficiency of businesses starting to show up as they leverage technology. we are excited about it. sambanova is starting to see this take off and i think frifri inferencing speed is the driving metric with the a.i. because you want to drive it not with costs being down, but also driving production with very, very low power which as we all talk about is one of the other constraints

we now have across the planet. finding the energy to power these a.i. systems. >> yeah, absolutely. rodrigo, nice clapback on the valuation. i appreciate you calling me out on the comparison. thank you so much for joining us today. i appreciate the conversation. looking forward to seeing you in the region. that's rodrigo liang of sambanova systems. moving on. rachel reeves hinted on tax rises in the budget. reeves said she must make difficult decisions in order to balance the books and fill what she says is a 22 billion pound black hole in public finances. meanwhile, the uk prime minister keir starmer vowed to slash red tape saying it is needlessly holding back investment in the

uk. starmer did not specify exactly what changes would happen, but said it's time to rip up the bureaucracy that blocks investment with the government reviewing the focus of regulators. arabile spoke to robin vance on the sidelines of the summit and the policies he hopes to unveil. >> we want clarity and uncertainty of the path forward to feel comfortable to invest going forward. those things matter and we have been communicating to the government about what are those types of things that make up certainty for a big global company like ours feel good about continuing to invest. >> some of the commentary i heard is a new broom sweep is clean and the worry is at a later stage you don't necessarily get the full-on commitments and actions that you would have hoped for. what are the biggest risks, you try, to the growth path you hope

to achieve and further investment in the uk? >> making a good first impression helps, but what really matters is consistency over time. execution is not easy. we know we have to be clear in terms what have we want to do, but we have to do it. the uk is in a similar position. they laid out a vision and directionally, it's pro-growth which is attractive to investment and for companies like ours to want to be part of that, but it is going to be important it is consistent over time. ahead on the show, losing power. french president emmanuel macron opens the paris motor show as the european auto sector charges head first into the brewing trade war with china. we're live on the ground in paris up next. stay with us. 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.

[ thunderclap ] your business needs a network it can count on. even during the unexpected. power's out! power's out! -power's out! power's out! -power's out!

comcast business has you covered, with wifi backup to help keep you up and running. wifi's up. let's power on! let's power on! let's power on! -let's power on! it's from the company with 99.9% network reliability. plus advanced security. let's power on! power on with a leader in connectivity. powering possibilities. comcast business. welcome back. french president emmanuel macron

officially opened the paris motor show showing support for europe and must have a united strategy to support the ev transition. he backed the ev tariffs saying they were defending fairness. >> translator: this is a difficult time because you have the contraction of the european market. i think it is necessary at times like these first of all to protect ourselves to create level playing fields. in certain chinese manufacturers benefit from subsidies, it is necessary to impose tariffs to compensate for it. if not, we don't have a level playing field. >> shacharlotte joins us live f the paris auto show. what else did the president say about the challenge? >> reporter: macron has been a vocal supporter of tariffs of v

made in china. in europe, the brands are exposed to the sales in china. fast forward after the tariffs from the eu and china announcing tariffs on european brandy and most of it is french cognac and an element of the start of the tit-for tat trade war. we will have to wait and see. it is interesting to be here at the paris motor show and president macron and visitors on the first day of the opening. you have the historic carmakers and european ones and the chinese challenges present here as well. one is xpeng. they are presenting the new models there. they are already selling cars in france and germany and will expand in spain and portugal in the last quarter of 2024. i had a chance to speak to brian gud of xpeng and asking if the

tariffs would change the expansion plans in europe. >> our plan for europe is a very long-term one. we see europe as a very important market for us and also we see this market will have to take time to develop. so, we do have the patience and long-term commitment. what happened is tariffs is something we have to deal with. it puts a lot of pressure on the business model, but a long-term focus brand, we need to find a way to address and make ourselves competitive. >> does that mean you reflect and impact the tariffs on the prices of the cars in europe? >> i think yit will take a numbr of areas for us to figure out the best strategy. that will include what type of models we introduce to europe that involves the business models we have with our partners and also, you know, potentially looking at pricing as well. there are a number of areas we are looking at examining to opt

myself. our belief is still try to produce the most competitive product for european companies. >> manufacturing in europe is what you said in the past you are looking at and are you starting to do that now to avoid the tariffs? >> i think having local manufacturing capabilities a long-term plan and vision. it is not because of tariffs or because of short-term policy changes. we do have a long-term plan to be more local and what type of methods and what timeframe, those are things we analyst at the moment. >> reporter: that was brian gu, president of xpeng. saying europe is a long-term plan for them tariffs or no tariffs with evs globally. i had a chance to catch up with the executive vice president of hyundai.

the auto supplier there and asked whether his view on the tariffs overall on the industry. >> we are very positive on the electrification. we love all electric vehicles that are sold because this increases our business. more business than combustion engines. this not necessarily favored. i understand europe needs to protect their jobs and wants to have a certain type of reduction of inflow. i think it is somehow contradicting when you believe and see on one side you get people to buy evs. in europe, it is declining compared to the continent which is suffering on the ev expansion. >> reporter: there you have it, dan. a lot of different views here. are tariffs a good idea with net carbon zero economies? the debate is still ripe here on

the second day and opening to visitors right now. >> really fascinating, charlotte. i appreciate your coverage this week. thanks for bringing us the latest. that is charlotte reid on the ground in paris. to innovative technologies, carmakers have been fighting hard to catch attention at the paris motor show. find out more at cnbc.com. our digital team has an excellent piece live on the site right now for you. do go and check that out. before we go, let me before i you another look of how europe is trading through the course of the day today. you can see markets are pulling lower. ftse down by .50%. the ftse mib and cac 40 also sharply lower. you can see here the dax up by .23% right now. as we head into the u.s. open, let me give you a live look at the u.s. equities after we saw the record lead from wall street

again yesterday. a lot in focus stateside with investors monitoring corporate earnings season and chinese stimulus outlook and, of course, the move in chip stocks. you can see the markets are modestly lower here. the dow down by 17 points as it stands. one primary drag in the u.s. session will be the oil majors. we have seen this play out across asia and in europe. take a look at how the oil majors are trading pre-market stateside and this comes after oil was down 3.5% in the asia session. take a look at this. exxonmobil and chevron and oxy is down more than 2% right now. that could be one sector contributing to the losses. stay with us here on cnbc. thanks so much for your company today. i'm dan murphy in abu dhabi. "worldwide exchange" starts right now.

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