keith morrison: no, she did not deserve the way her life ended on that cold december morning in deer park, washington. ♪ good morning and welcome to "street signs. happy friday i'm silvia amaro and these are your headlines the imf warns german growth will fall behind the united states. euro group president tells cnbc he is confident europe's largest economy can turn things around. >> the german government is looking at the steps they can take and what reforms are needed

to up the performance of the germany economy. it is not only good for germany, but rest of europe as well. mercedes drags the auto sector lower with the drop in adjusted earnings as the car demand lowers. and eu court with the tieup with coach owner tapestry and michael kors capri in the pre-market. and the third quarter numbers come in higher by 26% as net interest income comes in ahead of expectations. very good morning. we start today's show looking at some fresh data out of germany

we are just getting the numbers from the ifo business climate. the numbers actually came in at 86.5 that is the actual number for the month of october and it is, indeed, a slight upgrade compared what we have seen in the previous month of 85.4 the reading we're getting this morning is also slightly above what analysts were expecting going into the reading so what we are seeing with the fresh data out of germany is a slight improvement in terms of business confidence morale in what is the largest economy in the eurozone this data is coming after fresh pmi figures yesterday showed a contraction in the german economy in the month of october, but less than the previous month. more broadly speaking, however, we are seeing quite a lot of concerns at this stage when it comes to the outlook for the german economy the imf announcing this week it

is expecting no growth whatsoever for the largest economy in the eurozone this year it is also important to look at this in the context of what this means beyond germany of course, it could have implications for monetary policy in terms of what the european central bank is going to do next, but there is also ramifications for other countries. in fact, my colleague, karen, spoke with the swiss minister in washington, d.c. yesterday the swiss minister also making clear remarks how they are worried about the german economy and what this means in particular as well for their own economy. so, with that in mind, it is important data out of germany this morning we will monitor what this means for germany. a quick look of the euro/dollar trade. wit we have downward pressure on euro trading at 1.08 against the

dollar when it comes to currencies, there is also the other side of the equation, we have seen also important dynamics stateside with the u.s. dollar also worth keeping that in mind. germany's outlook has been a key policy outlook for policymakers. karen spoke about the prospects for euro's largest economy. >> and has fundamentally shown a bit of change. they have been in the very, very middle of structural change within the european economy. in terms of public finances, it is a matter for germany to determine what they want to do with their own debt brake. i would determine they would be focused the approach on the public finances which is very helpful for the rest of us i do know the german government at the moment is looking at what

steps they can take and what reforms are needed to up the medium term performance of the german economy which is not only good for germany, but the rest of europe as well. >> all of the capital investment that is earmarked now is really about replacing energy infrastructure and aging infrastructure that needs to be replaced and new infrastructure, but it won't lead to productivity gains as far as the eye can see. think of that in the context of any other economy. that is a dire prediction for capital investment, isn't it >> look at the scale germany has to confront. it is exporting. it has a manufacturing level to the economy and high level of focus on energy coming out i think you need to offer some credit and recognition for what they managed to do they have to lideliver a huge

economy change and make important structure changes at a difficult time when i spoke to the minister and heard the german economy talk about what they want to do in the future, they are looking at the steps to take to enhance productivity and grow investment in the years ahead germany has had the ability to do that in the past and i believe they will do that again. >> karen spoke to the imf director about his concerns exactly about the german economy. >> what we are seeing right now with germany is the relationship they have been hit very hard with the energy crisis and energy intensive manufacturing is affected. that is down 50% on the german performance. second, you are looking at the impact of monetary tightening and higher interest rates. that is an issue with goods. germany is a producer of those

goods. then when you are looking at the uncertainty and you are looking at the lack of demand for goods after the switch to services following the pandemic, germany is going to be affected as well. >> this was what i was mentioning to the earlier. the swiss finance minister said she is concerned about the up p impact of the german growth struggles. >> i'm a bit worried about the german economy the german economy is the leading economy of europe and is a very important trading partner for switzerland. we really hope that they're doing better because they're in a recession now because they're a very important exporting market for switzerland, but they have some challenging because they have high energy prices also because of the geopolitical situation, the war russia wages

against ukraine. i'm quite confident they will find their way germany is a very robust economy overall and they have a robust work force. >> we will bring you more from washington, d.c. on monday, including karen's conversation with the man himself, the german finance minister christian lindner. to discuss the outlook for the eurozone economy and the numbers from germany, we have the vice president of the european economics at neumoor good to have out the show. i know we were expecting a slight improvement, but with the numbers we saw yesterday on top of the comments from the finance ministers or central bankers how concerned they are about the german economy, what do you make of it? >> this morning's figures were

an issue that's a surprise to the upside. that said, it is still weak against the pre-pandemic average. as you mentioned yesterday's pmi, itcontraction we have been forecasting a recession for some time now. even yesterday, the bundesbank said we feel germany will go into recession they are forecasting a two-quarter technical recession. we think three quarters makes sense. >> what do you think with the bleak assessment with germany? we have seen the other economies perform well in the grand scheme of things. can that offset the pressures we see in germany >> in h-1, it offset

we expect the data release next week to out perform. if you think tourism in spain is booming. august how the highest level of tourism ever in a single month it is equal to 23% of spain's population that's an enormous amount. we expect the euro area growth rate will slow in q3 we are not forrinecasting recesn yet. spain is keeping the euro area afloat france with the boost from the olympics french national stats office is forecasting a recession in q4. >> it is so fascinating. obviously, we are trying to figure out what the ecb is going to do next my colleague, karen, gathered information throughout washington, d.c. throughout the week that ecb commenters are concerned about under shooting inflation target

how likely is that and do you think we are actually going to see a 50-basis point cut in december >> in terms of the inflation print, that spooked the ecb. that surprised to the down side. they were expecting 2% to 2.2% lagarde said in october no one expected this. it took us by surprise now the concern is when you see inflation fixing, their sub 2% until 2026 contrast that with the forecast, the wedge in q4 alone. you think if inflation comes in line with the ecb is expecting or analysts actually next week, we are forecasting 2% fixing at 1.7. if it is 1.9 or 2 above, the ecb is 2.4, if it is that level, we should see a .25% cut. not just to the ecb, but also to

analysts and that could obviously increase the likelihood of the 50. >> do you think the next piece of inflation data will give us a lot of clarity about what to expect in december >> lagarde said they were not data point dependent if you see the gdp and inflation data and november inflation data and the november pmi if all those show weaker inflation, much weaker than expected, that will raise the risks of the 50. >> i wonder the pressure we spoke about earlier coming from germany is actually the key here that's going to tell the ecb that they need to cut more substantially going forward? >> if you think about the hawkish members, he refused to push back against the 50 he said if the data warranted, we could do 50 if you think of the hawkish members, it could be

those dovish are concerned on the medium term and the ecb got the narrative wrong. the hawkish members are more concerned about essentially growth being restricted overly so by monetary policy. this morning, one talking and saying we shouldn't keep rates too restrictive for too long and restrict the economy from the growth perspective >> let's talk about the uk as well it will be an eventful week next week basically what do you think the chancellor will tell us next week how could tax rises be >> in terms of the budget next week, everyone will think is this a liz truss moment? we don't think it will be whatsoever already we had leaks about the changes of the fiscal rule and the idea that the government can essentially take or carve out

investment that is positive for the uk economy versus the peers in the g7 to allow the uk invest more and have the off balance as germany did for years. that is a good thing on the hole, i would say. in terms of the other measures announced, it is all a wait and see. we will get more clarity on the 30th when the budget is announced. >> no doubt everyone will be watching thank you for your time. that was the vice president of european economics at nomura coming up on the show, it could be all change in japan as voters head to the polls in the general election this weekend. we'll get the latest after this break.

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welcome back, everyone let's take a look at how european equities are trading so far this morning we have a little bit of pressure

on the staoxx 600 at this stage on friday morning trade. yesterday, we saw a few marginal gains of the stoxx 600 amid the flurry of gains this week. we are on the track to see negative performance for the stoxx 600 this week. on track at the moment to see the stoxx 600 down more than 1%. indeed, when you look at the action thus far this morning, it is a negative story out of europe so far. we've had the german ifo business confidence figures showing a little bit of an improvement in terms of business morale, but there are question marks at this stage about the outlook for the german economy and, of course, who does that mean for the ecb with some analysts questioning at this stage whether we'll see a 50-basis point cut let me take to you to the bourses to show you the picture

across the continent we are seeing downward moves in the session. we see the ftse 100 at this stage trading lower by .2% more pronounced moves to the d downside in france with the cac 40 down .50% indeed, the story we are seeing in terms of the overall stoxx 600 is the same story for the individual bourses the kcac 40 is on track to end down the week and the dax down 1% the messages i received so far in the latest earnings do suggest some ceos are concerned about the outlook here, in particular, for instance, when it comes to the impact in terms of chinese stimulus measures or the lack of stimulus and the overall performance of the chinese consumer i want to take you to the japanese markets, too. it has been an interesting

session in japan today we saw, for instance, the nikkei 225 down .6% also similar moves with the topix. indeed, we are approaching an important weekend for japan. overall, though, we have seen the yen repoundibounding at this stst stage. you see it on the screen the yen and u.s. dollar pair it is important because we are approaching the election this weekend where the government is at risk of potentially losing its lower house majority question marks about not only what this election is going to mean for the overall japanese economy, but what this means in terms of monetary policy, too. speaking of monetary policy, we saw inflation in tokyo falling 2% year on year for the first time since april last month. driven mostly by lower energy

prices core cpi rose 1.8% slightly increasing expectations, but marking acceleration that piece of data sometimes gives us an indication to expect for the overall print across japan. as i was telling you earlier, japanese voters are heading to the polls. the liberal ruling party faces a major defeat which could leave it to lose majority in parliament for the first time since 2012 i'm pleased to say to understand what is likely to happen in japan, we have the professor of management at the university of shizoka. good morning or good afternoon to you first, explain to us what's at stake in this weekend's vote >> well, according to most reported, ldp would be struggling alone

also, even with coalition partner, it is unlikely they will reach majority which means they would probably have to tie hands. of course, we have the independent that may merge with the ldp. we have to have some kind of a coalition, if that is the case, that would be added on that would cause a bit of a confusion and particular anxiety about future policies ahead of us >> i would also like to understand in more detail what is the economic implication here if we see a significant change in government, what does this mean in terms of the japanese economy going forward? >> i think one of the biggest misunderstanding that is going on is that japan really isn't run by the politicians it is, but it is implemented by the bureaucrats. you have to have a very good tie

and pipeline with the bur bureaucrats. in the past five decades, the only party that was able to do this with a lot of eloquent move is the ldp as you stated, in 2012, we had the party take over. they were so incompetent in coc completing anything because the didn't have that tie i think what we really need to see is coalition, but with a continuous lead by the ldp or else i think we will see an unfortunate bottleneck in the policies that will be implemented. >> the reason i was asking about the economic outlook here is there are a lot of question marks for what this will mean for the bank of japan. do you think this election is going to make it harder for the

bank of japan to deploy policy and potentially announce further rate hikes >> good question i'm supposed to say if i'm reading the textbook, bank of japan shouldn't be affected by the political moves. as you kmyou commented, in japa is the fact of the matter is the instability of the government, certainly, gives a negative note that said, i think bank of jep japan is looking at the inflationary fears that would give a lot of anxiety to the japanese consumers as you just reported, we have inflation that is fairly under control. you know, the wage rise which has not been made in the past 20 years, the only nation that hasn't given wage rise in the past 20 years is japan so, basically, people's lives are becoming quite tough that could be a very big cause

of the policy changes by the government bank of japan would look closely. one example i can give you is interesting. bank of japan looks at the comfortable living index it is an index by the consumers. that was minus 54. the lowest since the lehman crisis that tells you people are starting to suffer for the the f first time in two decades. i think there will be a lot of policy changes that has to be implemented if we see this trend going on further >> interesting comfortable living index interesting name i would like to understand the broader i am play mplicatmplica. the japanese yen and u.s. dollars have been volatility what is the outlook here and do you think that there's risk that the japanese authorities will be

forced to intervene again in the near future? >> well, yes because i think the market trend has become very clear in the sense yes, we have seen the movements in the fed. people is me about the policy bank of japan. i say watch what the fed is doing because i don't think the bank of japan has a deep pocket that mean people think they do they're structurally in a position that makes it very difficult for them to maneuver like that of the ecb or the fed. >> all right we lost the connection there that was the professor of management at the university of shizuoka it is important what is happening in japan and we'll bring you the outcome of that election on monday. for now, we will be looking at some new anti-trust rulings in the united states after the break, we will look at

how the u.s. blocked a merger with tapestry and capri sending shares in opposite directions. we'll have the latest after this break. do you have a life insurance policy you no longer need? now you can sell your policy - even a term policy - for an immediate cash payment. call coventry direct to learn more. we thought we had planned carefully for our retirement. but we quickly realized we needed a way to supplement our income. our friend sold their policy to help pay their medical bills, and that got me thinking. maybe selling our policy could help with our retirement. i'm skeptical, so i did some research and called coventry direct. they explained life insurance is a valuable asset that can be sold. we learned we could sell all of our policy, or keep part of it with no future payments. who knew? we sold our policy. now we can relax and enjoy our retirement as we had planned. if you have $100,000 or more of life insurance, you may qualify to sell your policy. don't cancel or let your policy lapse without finding out what

it's worth. visit coventrydirect.com to find out if your policy qualifies. or call the number on your screen. coventry direct, redefining insurance. (music)

welcome back to "street signs. i'm silvia amaro here are your headlines. ifo data provides germany outlook at the imf warns the economic growth will fall further behind united states he is confident europe's largest competent can turn things around. >> what reforms are needed to up the medium term impoperformance. mercedes drags the auto sector lower with the adjusted earnings in the car division as china demand rocks the luxury automaker. the u.s. court blocks the

tieup with coach owner tapestry and sending them in opposite directions. and shares fall after chinese sales decline in the third quarter and huawei gains share in the world's second large of the economy let's get a check of european equities that have been trading for u.s.just over an ho and a half we have the stoxx 600 currently trading lower by .2% indeed, when you think about the story thus far this week, it has been one of a negative tone. on your screen at the moment, you have the different bourses trading.

you see the ftse and dax and cac 40 on the upside with the italian stocks nonetheless, i want to show you the performance week to date it is friday and a good reflection to understand what has been the mood in the markets. look at it we are on track to see a negative performance in the equities the dax and the cac 40 on the track to end the week lower by more than 1% let's see what will be the final figure later on today. indeed, investors basically looking at the latest earnings and not feeling very confident here about the outlook there will be further earnings next week as well. let's see outultimately what ths earnings season is going to tell us we also received important economic data. pmi in europe showing the business stalling in the month

of october it was actually particularly interesting to see what happened in terms of the services sector even though it is the more resilient part of the eurozone economy. we saw more orders within the sector we are starting to see discussions what the ecb is going to do with the november meeting and speculation of a 50-basis point cut i want to take you to the u.s. futures. yesterday, we saw major indices posting higher performance the s&p breaking a three-day losing streak. with the dow, the longest losing streak since june. at the moment, they indicate slightly positive start to the trading week on wall street. i will highlight the economic data this morning. we will see consumer sentiment

figures and durable goods released throughout the morning. let's see how equity investors will react to those figures. in the corporate world, apple shares are lower after third quarter iphone sales in china dipped while huawei increased. apple's market share dipped to 15.6%, that's just 30 bps ahead of huawei. this comes as the commerce mi ministry met with tim took saying they are welcome to increase the presence in the chinese market shares of capri, parent of michael kors and jimmy choo tanked 47% in after hours

trading after the u.s. judge blocked its $8.5 billion merger with tapestry. the ftc said it would wipe out competition with the two leading u.s. handbag makers. charlotte has been looking at this court decision. how are we reading this? the markets are look aging at te performance of the companies is this a positive for any of them >> we have to wait and see this is interesting with the development. this deal was announced in august of last year in april where the ftc announcing suing the company with the tie up of capri and tapestry here again, the argument with that decision announced yesterday with the tieup with the companies would make a company with 59% share of the accessible luxury market and it would be bad for competition and bring prices up and bad for

competition in acquiring employees and the benefits the employees would have with the merged group with 33,000 p employees. they are not each other's competition. that's really what's at stake. can you create an american answer to kering or lvmh when you look at lvmh, they have 75 brands under one roof kering is 11 ric richemont is more than 11. it is all the giants that keep ak cquiring stakes because competition is so intense, especially now with a slowdown in the luxury market and fighting over consumers. the buyer is squeezed out. prices are going up. the counter argument is these brands, michael kors or coach, are the accessible luxury. they are the lower end of it

if it is a tieup and prices go up, consumers won't have access to the bags. lvmh and others pushing prices up at the moment you see the argument on both sides. the companies say they will appeal the decision. it is interesting to see this play out in this wider luxury market that is going through so much tumultuous times at the moment you see why they want to tieup forces and join forces to serve the competition with the european players. >> i wonder if this will start a trend in europe. the numbers you highlighted for the european companies are actually quite impressive. let's see whether regulators will look at the fashion industry as well speaking of fashion. vicinitied sells 340 million euro with the vl situation of $700 million it became profitable last year as the users increasingly

shifted toward cheaper and more environmental ways of shopping i'm pleased to say the ceo of vinted is here with us good to you have out the show. looking at the latest announcement, i wonder the higher valuation and what it means for the business what do you want to do with it >> i think, first of all, validation of the work that has been done over last few years. we see many consumer companies have peaked in 2021during covid and we progressed since then a lot in terms of economics and growth and profit bullet first of all, it is validation that things are on the right track. secondly, that makes us bullish to continue to invest in growing our company. our proof points we delivered with the secondary marketplace for fashion is now a foundation to build out our shipping companies and expansion of

categories while we expand to other markets. >> now, there's quite a lot of question marks about whether, you know, a company like your's can be profitable. you said in 2023, you became profitable i would like to understand what would you say is the key to achieve profitability in this market >> yeah, i think there are several things it is a focus on cost control and building things that are scaleable and scale costs. the other element is being able to build something that can scale widely to carry revenues that are large it is the basics of business and within our industry, we have not seen this a lot. it is because businesses have not builds economics that we built. the first ones to get through the scales and economics and proving the world that it is possible. >> when it comes to secondhand, however, this is not a new

business we have seen it with e-bay and the collective for more luxury items. what i would like to understand here is whether there is a risk that you are achieving your peak >> actually, i think it's very clear we're not achieving our peak our most mature markets are still growing double digits and profitable the next is a wide range of 22 markets in the portfolio and growing faster within the countries where we are, we are not peaking out and launching in new countries every year the world has not yet developed secondhand that we see in the market peaking is absolutely not on our mind as we see in our data that that's clearly not there next to that, we're just doing this now and mostly low value fashion. we're expanding into luxury

fashion and new categories such as electionronics >> for when would you like to see an ipo >> an ipo. so, i think the first thing we need to do is build the fundamentals out strongly and when we are ready, we which pull the trigger with ipo it is not driven by investor pressure we want the freedom to build fast and take the risks we're taking for now, not a clear agenda to quickly go ipo. >> going back to the state of the secondhand market, i've noticed that brands such as zara, for instance, they are also offering second hand service. i would just wondering whether you are facing further competition within the space and what does that mean? how are you thinking about it

really >> obviously, we look at the market and we soee a lot of new initiatives from zara and other service companies. what we see is the market by itself is growing a lot. this is not like the bear market which is static and taking market share from each other it is the early stage at the development and we see we can learn a lot from our competition and we can grow this market. >> do you have any plans to also have the business opening in the united states and, if so, when do you think that would be feasible i see you expanding across the european continent. >> for now, the focus is on europe we will feel we are ready for that and enter the market with the same confidence the other markets. you know, success comes from focusing and taking it step by step therefore, we have not done that yet.

no clear timelines on that, but continue to expand in europe >> would that be something to understand how you are feeling about it is that something you would like to do at some point or not real any. >> yeah, yeah, we have ambitions to do that the u.s. is a huge market. the market is very under developed at this point in time. we're just waiting until we feel it is the right time for us to pull the trigger. >> finally, i would like to understand the next steps. i know you are looking at expanding the offering on vinted and happening electronics and so on i wondered what are the challenges of making that happen shipping a piece of clothing is different from shipping a piece of electronics. >> yes, absolutely we are eight years long perfected our shipping software and then within that software, also build our ownershiping companies. we have been able to ship

clothing, but shifted to shipping books and kids toys and things like that now recently, we expanded into electronics where the shipping systems are fitted to that and no problem to that we also need to build around customer sports and electronics that we are testing in poland. we pick a certain markets and get it working there if we feel confident about it, we scale it out to the rest of europe the taste we got with the electronics in the first countries we launched it is very good and we are starting to expand that to the other countries in europe. >> very good thank you for joining us today hopefully we get to catch up in the near future. that was the ceo of vinted. coming up on the show, mercedes shares selloff as its core cars division post a gehu plunge in sales. we'll bring you the details after this break

welcome back to "street

signs. let's look at some of the corporate stories this morning we heard from remy it posted a worse than expected 16% drop in the second quarter sales. the french spirits group is batting tighter market conditions in china and in the united states. staying in the french market, accor raised bottom line and guidance for strong demand for luxury hotels. just to give you an idea, we are seeing a little bit of pressure with travel and leisure names despite the results from accor the deputy ceo said china is only one part of the pus zzle >> we one country. china is one element of the puzzle i think on the continued growth,

it is definitely pushed by the luxury and the lifestyle division and that is coming from largely middle east and africa so, china is one part of the puzzle it's not the only one. that is the difference with the other players in the luxury business when it comes to sanofi, it posted third quarter earnings that beat on the top and bottom lines with the drugmaker with benefits of earlier seasonal va vaccine shares. let me take you to tesla in the pre-market trade this has been an interesting story in the last 24 hours tesla shares at this stage down in pre-market trade after they soared more than 20% in the previous session after they posted results and indeed the ceo elon musk sounding quite bullish about the outlook for the deliveries and sales this

year and more so for 2025. generally speaking, when you think about the auto sector, a lot of pressure in that part of the market, particularly as we see quite a lot of competition in terms of chinese brands versus other countries such as other brands such as tesla or, indeed, some of the european brands as well let me bring you back to the day n dynamics within the auto sector. mercedes with the forecast lower full-year sales. luxury automaker will step up cost cutting amid the demand weakness, particularly in china. mercedes sahares moving lower i the trade and putting pressure across the auto sector this morning. and in the banking world,

nat west beat expectations on the back of unexpected growth in the net interest margin. the british lender says it expects a boost from lslower tha expected interest rates in the uk karen spoke to the imf ministers in washington, d.c. and asked about the issues surrounding credit suisse's collapse >> the banking stability which are the learning of the credit situation failure. we believe there has to be a framework in place to prevent another crisis we can talk about the debt level again because the debt level is a threat to the financial stability. we really also need a level playing field with basel iii

this is a protection of the investor be it american or swiss or french. in case of an event or crisis of the banking system, i think it is our task to really limit the tail risks especially for the taxpayer he cannot be made responsible for the failure and mismanagement of the bank. >> let me get into the weeds of the dealmaking because you addressed concerns of con consolidating two big banks with high consumer base that risk with unicredit and commerce bank. how do you have enough banks offering enough competition and not minimizing services to key arms of the economy? >> i can only talk for switzerland.

we have more than 200 banks. there is, of course, competition. international banks also have a free market access in switzerland. companies in switzerland are also free to work with foreign banks. so, i feel there is enough competition, but we have to have the safeguards, as i said. we really have to find the right balance between competition and competitiveness on the one hand because we want to have a financial center that is competitive. on the other hand, we want to have a financial center that is safe you can invest your money into and be sure that in case of a fai failure, the taxpayer or the investor doesn't have to take the responsibility for the failure or mistakes that have been made. so, this also means adequate and pragmatic regulation >> the imf expects the europe

economy to grow 1.45% to ten years to 2029 to the u.s. growth rate of 2.3% the funds regional outlook report for europe says the continent needs a larger and more integrated single market to achieve its full growth potential. karen also spoke to the croatian national bank governor and asked if the ecb could cut by 50 basis points in the december meeting >> i'm completely open in the december meeting i don't know the decision nor should we know at the moment we should wait if we are data dependent. we should not now talk about 25 or 50 or maybe a pause in december anything can happen depending on the incoming data. we have to stay fully open until december and see what the data will point to before the

decision is made. >> fixed income markets are trying to calibrate where we go to from here based on the data and signals from the central bank and the view is we could end up 1.8% or neutral some saying below that the long end of the curve is re-pricing and re-pricing lower. where do we end up do we go below terminal to provide stimulus >> it's still too early to know that we know the debt range changes over time. it is not a fixed rate it is better to approach the level and determine where it is and where we want to stay. this will change continuously over time. you know that people have tried to predict on the way up the terminal rate and those that predicted early turned out to be pretty wrong >> as we approach the end of the

show, here are the four things to catch you up to speed ahead of the open on wall street we will hear from boston fed president susan collins later today. texas hold em in the race for the white house. kamala harris campaigning in texas and trump will be in michigan we have durable goods and consumer sentiment due this morning. on the earnings front, the numbers we receive today will be auto nation and new world brands in terms of the u.s. futures, they suggest a slightly positive start to the trading session on wall street we'lsee w l hothat's going to go that is it from us today i'm silvia amaro "worldwide exchange" is coming up next.

do you have a life insurance policy you no longer need? now you can sell your policy - even a term policy - for an immediate cash payment. call coventry direct to learn more. we thought we had planned carefully for our retirement. but we quickly

realized we needed a way to supplement our income. our friend sold their policy to help pay their medical bills, and that got me thinking. maybe selling our policy could help with our retirement. i'm skeptical, so i did some research and called coventry direct. they explained life insurance is a valuable asset that can be sold. we learned we could sell all of our policy, or keep part of it with no future payments. who knew? we sold our policy. now we can relax and enjoy our retirement as we had planned. if you have $100,000 or more of life insurance, you may qualify to sell your policy. don't cancel or let your policy lapse without finding out what it's worth. visit coventrydirect.com to find out if your policy qualifies. or call the number on your screen. coventry direct, redefining insurance. it's our son, he is always up in our business. it's the verizon 5g home internet i got us. oh... he used to be a competitive gamer but with the higher lag, he can't keep up with his squad. so now we're his “squad”. what are kevin's plans for the fall? he's going to college. out of state, yeah. -yeah in the fall.

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

it's 5:00 a.m. here at cnbc global headquarters. welcome to "worldwide exchange." here's your "five@5. rallying risk trying to gain a win streak. deal denied. the federal judge blocks the deal in the luxury apparel space. and pegasystems in