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burberry shares are on track for the best day since march 2020 as the company launches an urgent plan of 40 million pounds of savings and renewed focus of the outer wear business. the european stocks hedge higher after two straight negative sessions while u.s. inflation data supports a december fed cut hedge fund billionaire david einhorn warns at the cnbc delivering alpha >> we have increased our expectation on inflation we will have another up inflation. i think what the policy mix that is being proposed is

inflationary and president-elect trump makes a shock pick for attorney general tapping controversial florida representative matt gaetz and the republicans will maintain control of the house with the red sweep in washington. >> politics is tough and in many cases, not a very nice world it is a nice word today and i appreciate a transition that is so smooth. let's start today's show looking at some of the corporate stories out this morning starting with siemens, they reported a historic high coming in at 9 billion euro on the back of just under 76 billion in revenue. however, orders fell 4% on a

comparable basis the german industrial giant sees revenue growth between 3% and 7% in the fiscal year of 2025 and warned of rising geopolitical risks on the horizon the german social giant sees revenue growth between 3% and 7% in the fiscal year of 2025 as i highlighted there in the mid of the geopolitical risks on the horizon. >> the market outlook is muted we have the prognosis of 3% to 7% growth. we will increase again that's our plan. we will see growth areas in our markets. we have the right portfolio which is demanded. is it in digitalization or automation or also sustainability you know that we are ing

an investment which covers our abilities. we are acting out of a position of strengths despite the difficult market environments, we are guiding for growth in the coming year. therefore, we are looking forward to another good fiscal year 2025. now another stock we are monitoring this morning is burberry the company has reported a 41 million pound operating loss in the p first half of the year the struggling british brand announced a burberry forward strategic plan which seeks to improve performance and reignite the brand desires. charlotte has been looking at the latest announcement from burberry did you get any sense from what we heard this is a company that could take over that moncler is looking to buy it? >> they are not looking on speculation. we know this company has been struggling as a potential takeover target.

it has been diving 12% n the past four months to be fair, moncler is an ou outerwear giant. that loss posted this morning warned about the operating loss back in july no surprise there. the difficulties in china we heard from other players in q2, store sales down 28% in asia pacific. the market was focusing on something else the management with the numbers and the ceo joined over the summer and the change of strategy for burberry. they presented some elements of the burberry forward plan. they are acting with urgency to course correct and stabilize the business to profitable growth. they announced 40 million annual cost savings program

they want to return. they are confident to get back to generating 3 billion. to be critical of the previous management over the past couple years. they changed the brand codes and that made them unfamiliar today. they pushed prices particularly for leather products too far too fast they will adjust that strategy and focus on outerwear and scarves. they had the most pricing power in outerwear in the campaign unveiled called wrapped in burberry. whether they focus on the strength there they also will adjust their whole wholesale ure which is a weakness it is interesting that they said they will stick with a new creative director who is very talented designer and they will work with him going forward.

it is interesting because the new ceo comes from michael kors and coach in the past. there is a question if he brings burberry on the same line on the access you ible lower-end luxury he wants to dispel this. he wants to continue to push burberry very much in the middle level of luxury there. so, make it accessible luxury and a plan for a turn around for burberry and focus on outerwear and scarf bars to make your own burberry scarf they want to create a buzz and revamp young customers. >> with the feeling of creating something new and personalized not an easy task for the new ceo. let's turn to swiss re the company reported today and when you look at the numbers, there was a fall in the third quarter net profit to $2.2

billion. that is in line with figures pre-released last week by the company when the reinsurer cut the guidance as well the company expects losses from hurricane milton in the u.s. to total less than $300 million i'm pleased to say the cfo of swiss re is joining us this morning. good to see you, john. good to have out the show on the back of these results. first and foremost, explain to us what has happened in the quarter with the numbers we got today were in line with what you had guided earlier explain to us what's the dynamic at this stage? >> the dynamic is the underlining earnings of the group remain very, very strong we made the decision in the third quarter for an extraordinary charge of $2.4 billion to reinforce the reserves related to u.s. casualty insurance this is the line of business which has been problematic for

the industry our own internal actuaries spent time doing an in-depth reserve of what the worst-case scenario could would like that's what we reserved for. we took this charge as a one-time charge. we expect this to be in the past we we gave some details on the year on year extra reserves we are in a good space going forward. as i said, the underlining earnings are strong. we showed a profit in the quarter despite of the 2.$2.4 billion charge in the quarter and we expect to reach $3 billion of profits for the full year >> right i would like to get a little bit more detail on the need to increase the liability reserves in the united states i understand this has happened followed any tense review that

the company has done, but what i would like to understand here is whether you feel you might need to do for other parts of the world. you know, one of the reasons why you had to do this is because obviously we are seeing a more extreme weather events and those are costly to deal with. those are happening all over the world. is there a chance where the liability ref reserves have bee to increased with the other parts of the world >> in the increase activity losses on natural activities, we feel good reserved this is a business that re-prices every year as our models says these losses will be bigger in 2025 compared to 2024. we can sit down with our clients and explain they will have to pay more for the same reinsurance cover than last year in that dimension, the shorter

lines of business are already well reserved and if we are convinced to make adjustments, we can make adjustments to the pricing. the reality is you write a policy in the year of 2019 the actual losses may arrive in 2025 and 2026 and '27. pre-em preemptively, we wrote ies for losses we haven't achieved yet. >> what does this mean for the outlook of 2025. you gave us guidance in terms of what to expect for the fourth quarter and 2024 i would like to understand how you are looking at 2025. >> again, the market conditions for reinsurance are strong we think the pricing has been adequate for the last year and a half or two years. we think the prices need to continue to increase especially in the liability lines where we've done this exceptional

reserving to get us into the place where we think we're at the top end of the reasonable rage rage as we go forward, we understand the risks we see and continue to renewal of the contracts on january 1st and april and june and july of next year. we're optimistic for the sector and we'll provide some additional guidance on where our targets will be for 2025 when we have some investor dialogue in december >> john, i also like to get your thoughts on what's happening or maybe not happening at cop29 because the leaders of the united states, france, european commission, are not present at cop29. at the same time, we just witnessed the re-election of donald trump what i would like to understand here is whether you feel the momentum behind climate policy is gone. >> i'm probably in no better

position to judge that momentum. what i can say is swiss re has for 30 years been talking about changes in climate and the impact that has on the world's resilience with respect to extreme weather. what we see time after time again, whether in spain or the european floods earlier in the third quarter or the remnants of hurricane debby which led to continues flooding in toronto of all places the world is at risk due to ex extreme weather. convex and hail storms and wildfires and droughts are clearly linked to global warming. we can put the facts on the table this is what we see and this is the cost society has to pay to insure against the risks and hopefully that will push

people to act. >> we appreciate your time this morning. that was the cfo of swiss re elsewhere, italy's government has sold 15% of bailed out bank for 1.1 billion euro the competition authorities does not control the bank it sold 5% to the lender mps it has no plans to seek the go ahead to cross the 9.9% ownership threshold stressing its stand alone strategy. coming up on the show, we'll be looking at the latest out of germany. the political parties shift into campaign mode as the competition heats up after less than snappy snap election. we're live in berlin after this break. ah, these bills are crazy. she

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welcome back to the show time now to get a check really on what's happening on the equity front this morning. look ing at the stoxx 600, it is up .4% starting the session with the positive despite ending yesterday's session marginally lower. we are seeing a little bit momentum behind equities thus far. this as investors started the week digesting the outcome of the u.s. election. overnight, really, very much focused on the cpi print out of the united states that highlighted higher odds that we will see a rate cut by the fed in december. we shall find out. let's turn to the political

scene in the united states trump's election victory was in the delivering alpha summit in new york we heard from top investors on what they think the election will mean for markets. >> we've got issues that we have to resolve we've got issues that we have to deal with. we've got to fix our balance sheet. we've got to get this immigration problem finally behind us. and i think trump is going to do that i really do. i think he's going to deal with those issues head on i like the fact that he's putting a cabinet together right away we're not waiting a month to pick one at a time and then do all that stuff he's got a plan. i think he's going to do -- i think he's going to do a good job. >> i think it's a very good break for the whole country that at least we have a ecisive win are and we can get on with things and figure out where to go from here

i think in a lot of ways this was a very good outcome in terms of political stability compared to kind of what i was worried about a week or ago. >> in terms of the appointments from donald trump, here it is. we hear donald trump picked former representative matt gaetz as attorney general. causing a problem with the election fraud claims as the head of the justice department gaetz backed trump throughout the presidential campaign and his various cases. gaetz came under investigation by the justice department, but was not charged. nbc news projects that the republican party has retained control of the house of representatives completely completing the sweep over both chambers of congress and the white house. the gop's slim majority in the house means the party will have

the numbers it needs to enact president-elect trump's policies when he returns to power and olof scholz has confirmed he will bring forward a vote of confidence in december paving the way for the elections in the month february. scholz fired his finance minister last week parties have shifted into campaign mode already with scholz making the case for the re-election ahead of the february election. >> translator: i will never confront citizens with the security or good jobs in the economy and infrastructure either we give money to the armed forces or we have secure pensions either we support ukraine or invest in germany. >> meanwhile, the opposition

leader, fredrik mertz is fuelling the debt brake which led to the firing of the finance minister christian lindner and the collapse of the governing coalition last week. annette caught up with the member as the same party of christian lindner and asked why it is seven-day is such a conte. >> in the moment 15 years ago, politicians decided to have a debt of 0.35% of gdp which is around 14 billion euro plus we acknowledge how our economy is going. that is a hard thing to do because you know what? i want this and i spend more the interesting thing now for the last three years, they say we will not change that because it is important and the germany don't want it. some realize i could be in charge in some months and then i suddenly realize i don't know where to get the money from

because i don't want to raise taxes and i have fear of cutting. this is what i would call the core of the german debate. are we going to stay on the german path to say yes, some debt, but alsoways controlled or we will do it like france or like italy, which is the wrong way, yet if you have to change, you have to spend. >> and annette joins us from germany. interesting olof scholz is seeking re-election. what are the chances he can come back as the next chancellor? >> reporter: highly unlikely olof scholz will be the next chancellor with the unpopular ratings with the electorate. you never know it's an open election. let's discuss the debt brake and what germany could learn from other countries. i'm joined with the founding director of the new think tank

initiative we are just hearing from the liberals why the debt brake is a good thing you have a different opinion tell us more >> yes, sure the debt brake limits annual borrowing and when you look at how it does that, it is on an arbitrary basis. we have the famous-infamous number to borrow 0.35% every year which sounds scientific this is the outcome of the political situation. we have a huge lack of investment german trains are known for being late schools are now known for being run down that is a consequence of the debt brake. >> we had the debt brake from switzerland. why does it work there and it doesn't work here? >> well, i think the swiss were smart and they, um, they financed their trains outside of the debt brake they had a fund for rails and they still run on time

>> overall, you don't need to like sort of come up with something new here in the country by your own, i guess you have written a book where you have seen examples elsewhere that do actually work. what could germany learn from other countries? >> sure. that is really interesting at the moment because the german business model is under threat, i would say. we export big cars and chemicals to the world now geopolitics is not looking so rosy. exports to the u.s. is going to be hard. so i try to look at other countries to see where there is an alternative sweden has a lot of industry in the past they still do. what they added to it is high tech and ict so digital services. by that, they made their industry a lot more productive and a lot more smarter and

building products the world is buying and new innovative companies. >> in the end, it had to come from the conditions or was it a government directive >> it was quite interesting. in sweden, it was a coalition with the government and companies. we need to innovate and further business development in the country and that's where it worked that's where i'm wondering thousand do that in germany. at the moment, you see companies trying quite hard to hold on to the old business model and politics being unsure of how to navigate this. >> the good example is volkswagen they tried to push into electrifying the electric future and the demand isn't there although, all of a sudden, they want subsidies again for the old business del >> it is hard for the politician to say no because a lot of jobs are at stake and these are good

jobs and people are earning very good money in good conditions. what do you do in the moment you will turn off the tap and lose every election. in a way, the company has failed in developing software and batteries. i think what you really need now is government and volkswagen sitting down together and figuring out the business model for the future this sounds unusual to ceos of private companies, but this is the only way right now. >> do you think given we will have a new government here pretty soon in germany, will that government be more open for the corporate approach >> yeah, i think so. it is at the moment, it is likely that the government is going to be led by the conservatives and like the spd, they are a very, very broad, we call it not focused on a small niche of the electorate and that forces them to be that open.

they need to win direct seats and they are very receptive at the local level. i would expect them to be fairly pragmatic. >> if i talk to people on the ground, it seems there is some sort of helplessness among people they don't know how to get germany back on -- on the proper footing and also the economic proper footing what's your sense about that >> yeah, that -- that feeling is definitely around. it's sad because it's unnecessary. this country has so much to offer. we have, you know, very well educated people. we have great products we need to just develop them further. i'm a bit sad about the stagnation i would really hope in the next time we get a government with a bit more of a direction of where we're going. for that, we're coming back to the beginning and need to figure out fiscal policy. otherwise, the government is going to be the one that creates

uncertainty when that is then reflected in people's opinions on the ground. >> short after do we get a reform of the debt brake? >> yes we talked about it yesterday i don't think it will hold it, it is impossible to finance the budget otherwise. >> thank you very much >> reporter: guys, back over to you. probably it will be an exciting year as well next year when we see more movement in the fiscal space here in germany. >> we will see whether that debate on the fiscal brake will actually change. thank you for the reporting and interview, annette coming up on the show, we continue our coverage from cop29 in baku. th cveatn cinupatonrsioisomg after this break

come back to "street signs. i'm silvia amaro here are your headlines. sshlgs siemens expect sales growth in the coming year. the cfo says they are well positioned >> we are acting out of a position of strengths despite the difficult environments, we are guiding for growth in the coming year. we are very much looking forward to another good fiscal year 2025. and burberry surging with shares now on track for the best day since march 2020 as the embattled luxury giant launches an urgent turn around plan pledging 40 million pounds of cost savings and renewed outlook on the terwear business. and u.s. inflation

expectations and david einhorn warns of further price pressure at cnbc's delivering alpha >> we increased our bets on inflation. i think we will have another up in inflation i think what the policy mix that is proposed is inflationary. and president-elect trump makes a shock pick for attorney general tapping controversy matt gaetz and the republicans will maintain control of the house in washington >> politics is tough and in many cases, not a very nice world it is a nice world today and i appreciate it very much. a transition that's so th, it will be as smooths it can

get. let's get a proper check on what's happening on the equity space this morning look at it the stoxx 600 up .50% at this stage. european urses have been trading for over an hour and a half and we have green across the board with investors digesting earnings from european companies. let's get a better picture across the european continent. we are seeing a lot of upside for german stocks. dax up 1.2% at this stage. cac 40 is tracking .7% only marginal moves in the uk. worth keeping in mind that chancellor rachel reeves is expected to speak out today. we shall see what details the chancellor will provide us with. in the meantime, let's see how we are trading across the

different sectors. the best sector at this stage is technology up 1.7% asml earnings is driving some of the momentum behind this sector today. looking at oil and gas, also moving higher by 1%. this sector was also trading higher yesterday indeed, as investors were looking not just slightly higher oil prices, but the fact that we got positive earnings in the sector was also ing to the momentum across it looking at the worst perform ago sectors, these are it at this stage. healthcare under pressure down 4% retail tracking lower at this stage. basic resources is basically flat when it comes to basic resources, we know the changes in metal prices have contributed to the swings in really of moods within the investment community this week. indeed, also the fact that we have not seen significant stimulus measures out of china

is also lacking in terms of more appetite behind base you ic res. i also want to show you how u.s. futures are shaping up at this stage. it suggests a slightly positive start to the trading session on wall street after a mixed session on wednesday investors were very much digesting the cpi print and the numbers cape in me in line with expectations and we are actually on track to see a cut from the federal reserve in december. it was also interesting to hear from jay powell. he is also due to speak once again later today. he did make the comment that one or two really good data months or bad data months are not going to change the direction at this point. therefore, we continue to expect a cut in december, but we shall see. i want to take you to the oil markets. the iea says the world oil demand will expand by 120,000

barrels per day this year and under 1 million per day in 2025. that is a slowdown and the agency says china's marked slowdown is the biggest drag on demand iea said global oil entries hit the lowest level since january falling by 47.5 million barrels with the provisional data suggesting a fifth straight month of declines in october you have oil prices on your screen at this stage marginally lower at the moment. when it comes to what we are seeing at cop29, argentina ordered negotiators to withdrawal from cop29 in baku after only three days at the summit adding to concerns surrounding the stability of the paris climate agreement. ikea makes a pledge to phase out

for on ill fuel fossil fuels we have dan murphy with more dan. >> reporter: good morning, silvia we have been joined around the desk thank you for being here. >> thank you for having me. >> major announcement on your transition away from fossil fuels. walk me through it. >> thank you last time was related to fossil fuel and renewable energy. ikea is under way to commit to 7.5 billion euro we have 4 billion euro invested now. we are today adding 1.5 billion euro to renewable heating and cooling which is part of the energy efficiency pledge for the world. we are happy to announce and happy to contribute. >> what we will also see is 100%

renewable energy by 2030 what is the biggest challenge in getting there? >> you can see the biggest is the collaboration with the private and public sector. the money is there and the technology is there and the change is happening. we are changing from fossil fuels, but we need higher speed with priority and collaboration with grids and support for infrastructure and other topics. it is a call for a speedier way of working with policymakers and private. >> of course, you are deeply engaged with moving the company forward on its transition. i want to ask about the business and meeting the consumer demand for affordable products. this is really key for ikea. >> this is a good question in society, sustainability should come at an expense. first of all, it's a bad idea because people wouldn't be able to afford it anyhow and

resolving climate change for a few people with a bigger wallet doesn't make sense every time we touch carbon, we touch cost climate smart is business smart. there are transitions and decisions to be made with investments and such that we are benefitting from being climate smart. to give you an illustration, we are 30% up since the paris agreement. we are carbon down which proves possible, but seems to be good business as well. >> what role does consumer behavior also play in the group's sustainability strategy? you can make those changes internally whether or not your end user or customer latches on. >> it's a very important question from the technical point of view, it is actually the customers' use it used to be back in the days

of signing the paris agreement, it used to be 20% of ikea foot print. today, the customer side is down to 12% this is due to us with l.e.d. lighting and smarter appliances and much more. it is also because we see a need for customers to participate they want to participate they are engaged almost 70% of the ikea customer thinks this is the biggest thing for humanity they are asking us to provide solutions with water and energy waste and put money back in the wallet. >> what is the profitability outlook after this significant spend on sustainability? can you achieve both at the same time that is the question the private sector is struggling with right now. how do we invest in our transition and maintaining profitability moving forward >> the question sits where the people left on the station people on the train are

discovering it is more or less the opposite we are deeply convinced within ikea we will never been able to afford a business model and reach people with wallets unless we are climate start renewable energy means lower cost it means double flow of materials. electric vehicles is lower cost. by addressing climate smart economy, we reduce cost. not the opposite >> i want to ask about what is happening in the united states as well. this is key for ikea >> i thought you would >> the situation is trump is back he's threatening the blanket tariffs. 10 to 100% on imports. correct me if i'm wrong, 10% of ikea products are vulnerable with the shift on tariffs. how is the global supply chain impacted >> you can call this the year of

super elections. we have seen a lot of elections and shifts of political parties and leadership around the world. climate crisis, which we are here for at cop is beyond party politics it is the business model of the future why we are continuing to lean in to make the transformation as best as we can when it comes to tariffs, with all of the respect of the challenges around the world, there are discussions, of course, between big economies of the world. at the same time, we have never seen a time where humanity prospered from higher tariffs and lack of collaboration. obviously, for us and for any business, tariffs will cause challenges you can ensure customers will have to pay higher price >> prices higher for customers if this comes through? >> we have to mitigate the changes.

it's true that less tariffs and more collaboration normally stimulates lower prices. basically, a win for everybody. >> p has been around long enough we understand the playbook it may be up to ikea to near shore. is that something you consider >> as we look at the supply chain, we look at the sources and also the climate efforts brings them and it is built on economics and the cycles we're talking about is normally more than ten years we don't step in to invest and pull out after a year or two we ask for politicians to help us write the right policies. those markets that stimulate the vestment will benefit from a ikea's investment. >> what do you say to the

incoming administration that the united states stays on top of the world? >> the message for us is the big effort transformation we have seen in our generation, but many generations in business leadership is the climate change by ing a climate smart economy, we will be research smart and cost smart i'm sure countries that embrace that and work with industries like ourselves will enable the economy will benefit. >> fascinating conversation. we'll leave it there thank you for joining me today >> thank you >> reporter: the latest on how ikea is responding to some of the domestic and global challenges silvia, back over to you >> thank you, dan. good luck for the rest of the week. coming up on the show, we are looking at siemens the company shares are surging after the earnings beat. we will bring you more from the company ceo after this break drinks. using the same old one size fits all playbook. think about it,

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welcome back to the show we are seeing the stoxx 600 moving higher today off the back of a lot of the corporate announcements. let me run you through some of those that we actually heard from this morning starting with asml the company said it is doubling down on its 2030 goals confirming it's annual revenue targets of 44 to 60 billion euro or 14 to 18% growth. a gross margin of up to 60%. it's latest guidance ahead of investor day, asml said it is in a strong position and benefit from the latest leaps in artificial intelligence. something the company said will drive global emiconductor sale north of $12 billion by 2030

let me show you shares at this stage up 5%. clearly, investors are especially joying the announcement today meantime, apple's foxconn posted a 14% rise on the back of a.i. server demand the a.i. story is present at this stage the world's largest electronic maker says they expect to grow significantly on the year while a.i. servers are expected to account for all server revenue in 2025. and tencent is ticking higher in asian trade or was moving higher in the session after the third quarter net profit surged better than expected 47% on the year to 52.2 billion yuan

revenue came in at just over 167 billion yuan for the third quarter broadly in line with the estimates and brought by a 14% jump in gaming revenue clearly all of the stories have the a.i. boom very much behind them. meanwhile, cisco is moving lower despite the forecast of second quarter revenue above analyst expectations seen coming in at $35.5 billion. this came in after the expectations of the top and bottom lines currently on the screen is cisco shares i want to turn back to the corporate stories from germany this morning si, mens coming in at $9 billion off the back of $76 billion in revenue. orders fell 4% on the comparable basis.

we had the chance to speak with the ceo roland busch >> we had a strong q4 which brings a successful q4 our net income is in a record high of 9 billion. 15.5% industrial margin. what we are very happy about is the industrial business delivering 11 billion euro free cash flow. driving against the modern infrastructure mobility grew as well as well as the software the only area which we hold back to the market competition is the automation business. >> let's start with the weak spot there with the automation business

are you stuck from the last quarter? >> we are sitting on higher stock levels compared to the stock levels we used to have we came from 14 weeks to 11 weeks. now we're sitting on 9.5 the normal level would be something like 6 to 7. there is still a way to go, but it goes in the right direction and we are looking forward to fiscal 2025. still, weak quarter one or two and pick up in the second half of the fiscal year. >> overall, of course, china is important. we are waiting for them to come back what's your sense here do you think the recent stimulus package has already done a little bit of the trick? >> it was not really stimulus regarding the private consumption. it was more addressing the high provinces. that's the right move because this can infuse confidence in private and people in the private consumption.

the sectors are contracting for many quarters. therefore, it's the right move will it be enough? we will see. i believe there will be more china is very much talking about high-tech manufacturing. they want to make more in terms of digitalization and automation and the medium size and small companies. this is the strengths. we launched the siemens accelerator. this is actually picking up momentum and addressing the right segments therefore, we are prepared we are also developing more local for local products to meet the functionality and price points in the chinese market even better. so, we are prepared. we believe that the chinese market will come back as we go it really depends very much on the level of private consumption. >> annette also asked busch about the prospect of the german government relaxing the debt brake. >> i cannot speculate here

i do know we do need investment. we do need investment of infrastructure it is the mobility and communication and energy, but also about schooling and schooling system and universities we need invest also in the better immigration system. so there's money which is needed and i do believe that's the question to the current and next government how to raise the money and how to mobilize to do that there's no way around. >> let's talk about the united states and the president-elect donald trump and his plans to actually impose tariffs. how badly would you be affected at siemens being a global company? >> so, we don't have really concerns on that aspect because, number one, we worked very well with the current administration and the one before and we have a very, very strong local team we have a very strong local footprint. there are not so many goods from

siemens traveling. this is not my concern tariffs could increase the prices globally. also the united states could drive inflation. we will see how that goes. from a siemens perspective, we don't have too much of a concern except global higher inflation due to higher tariffs. >> now we heard a lot of the corporate stories this morning, let's get a check of how that is moving the european equity space this morning we have all of the major bourses trading in the green worth keeping in mind on the earnings this morning, we will see the latest minutes from the ecb october policy meeting on. on top of that, we get the third quarter employment and gdp figures for the eurozone let's see how that could potentially move the equity or the bond market as well. i also want to show you how u.s. futures are shaping up

at this stage, they suggest modestly higher open for wall street after what was a mixed session yesterday. also today, we get the latest ppi figures and new initial jobless claims figures let's see how investors will be looking at these numbers now, we also heard from top market voices at cnbc's delivering alpha summit as investors digest the post-election market rally nelson peltz and david einhorn gave their opinions on if stocks can keep going higher. >> uninterrupted, there will be something to upset it. >> overvalued stock market that's not necessarily a bear market it doesn't necessarily mean it has to go down any time soon i'm not particularly bearish i don't see what will break the market not always that you can. there isn't something obvious to

me there is an expensive market if you buy and hold for a long period of time, i doubt this is a great -- you will look back and say this is a great entry point. >> now one of the stories that has contributed to the moves in the equity space was actually the latest inflation print from the united states which picked up to 2.6% in october. a higher reading than september, but in line with the analyst expectations so stripping out volatile food prices, with monthly core prices picked up 0.3% for a third none a row. at this stage, we are seeing 80% chance of a cut in december. that is it for today's show. i'siiam lv amaro "worldwide exchange" is coming up next. 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

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it's 5:00 a.m. here at cnbc global headquarters. welcome to "worldwide exchange." here's your "five@5. proceed with caution some of the comments from the biggest names on wall street and a certain optimism it is all part of cnbc delivering alpha. david einhorn with his pick in the space and that stock is surging today. president-elect trump is selecting his