that's all for this edition of "dateline." i'm craig melvin. thank you for watching. [music playing] ♪ good morning and welcome to "street signs." i'm silvia amaro and these are your headlines. thyssenkrupp group sky rockets as losses narrow, but the german conglomerate gets hit by a fresh $1 billion impairment charge on the struggling steel business. nestle lowers the profitability target while

ramping up the cost cutting measures with savings by the end of 2027. the uk's ftse 100 out performs, but investors continue to feel the pressure as broader equities fail to follow the asian counterparts higher and the u.s. futures point to a muted start on wall street. and the president-elect donald trump taps fox news contributor sean duffy to head up the transportation department as the field of treasury contenders widens amid the transition team infighting. good morning, everyone. welcome to the show. let's get started by taking a look at the action in european equities so far this tuesday morning. we have the stoxx 600 at this stage just marginally lower. below the flat line.

so far this week, what we have witnessed really is we are lacking direction when you think about the performancfor european equities as investors are trying to figure out how to position portfolios after the strong trump trade we witnessed in the wake of the u.s. election and readjustment in terms of the potential rate cuts from the federal reserve and, of course, tomorrow, we will hear from nvidia, perhaps that could give the direction that investors have been looking for. meanwhile, let's get a check on the european bourses to see how we are trading. the ftse 100 is above the flat line and the dax and the cac 40 in france. i want to take you to the sectors to understand the corporate die name icks this morning. utilities is closely followed by basic resources. we have seen relief for hannah

gutierrez-reed healthcare names so far. we were seeing a little bit of relief in that part of the market this morning. when you think about the worst performing sectors, this is what we have at this stage. let's get a check. there we go. autos, carmakers are the worst at this stage down 1%. we know this market, this sector has been particularly sensitive to news around potential tariffs from the united states. of course, prior to the election stateside, they were dealing with more competition from china and potential tariffs from eu and china. indeed, at this stage, significant pressure for carmakers. i want to take you to the corporate stories we're following this morning. thyssenkrupp notched a fresh $1 billion impairment on the steel division. the second in as many years.

the net loss for the fiscal year came in almost 50% less than in 2023. the german industrial giant flagged the energy firm to step back from plans of a partial purchase of the steel division if plans to form a 50/50 collapse. annette has been looking at this story. annette, it seems we are looking at shares trading higher so far in today's session. just highlight for us what mattered from the announcement from thyssenkrupp. >> reporter: the shares are actually on a four-month high after the announcement of the numbers, but i guess it is also the fact that the, a, the losses are lower, smaller than expected, and, b, the cash flow has been positive which is a surprise. it is a turn around, but the

likelihood that, it km tkms is y making money. this is the submarine unit and the future will be decided next year. there was private equity, but it did go away and now management is openly discussing whether an ipo next year uldn't be a option for the unit. they are very well received from the public market. that's one area, of course, europe needs to find a decision as well. here the news is the czech billionaire could even walk away from the deal if they don't come to a joint venture 50/50 at least. the decision and currently they're drawing up a business plan which either is positive for thyssenkrupp or not. here is a big question mark

over this future of the steel business. one thing is clear that whole fantasy that thyssenkrupp once could be the champion for producing green steel might be over. this leads to pouring more money is limited and, of course, it needs a lot of money to transform a traditionally powered steel manufacturer, producer like hyssenkrupp which is driven by hydrogen and that is stalling and much more subsidies are needed. the question here is whether the political in berlin is willing to do so given the change which is imminent with the leadership of the country. these are the two main elements for thyssenkrupp. i guess investors like the fact they still keep their dividend

untouched despite the turmoil there. it is attractiveness to think the shares have a little bit of a way to go on upside potential. shares are down by more than 40% year to date. so, this little jump today is just probably a bounce on the positive cash flow and also the decisiveness of the management to say next year there will be a decision on steel europe and tkms. >> annette, a quick one. when you think about what the election could mean for the industrial landscape in germany and you have clarify whether we will see a little bit more momentum and little bit more support from the next government. you were highlighting the climate transition, but what about reviving more broadly the landscape for germany? >> reporter: it remains or depends on the outcome, of course, of the elections are and how powerful the spd will be in

that most likely grand coalition. the likelihood of the cbu will win by the election is very high given the current strength in the opinion polls and unpopularity of the so-called government which is traffic light coalition. but having said that, we don't really know how powerful the partner of the cbu will be and whether they will support more business friendly policy. if the cbu could decide, it would be lower taxes, less spending for the welfare states who have more people in the work force and not like sitting at home on subsidies. that is one crucial element or pledge from the spd and less bureaucracy. how they want to actually implement that, especially the

latter, theeaucracy is coming from inside germany. essentially, they want to make it more business friendly, but whether they are going to achieve that remains to be seen. of course, one other crucial factor is the high energy price level the country is having, which, of course, is a major burden for industrials. they can rearrange that in the short-term is highly questionable as well. they are starting to discuss to reexamine and reinter nuclear energy. the new wave of nuclear energy and that could, of course, be a game changer to the energy price mix here in germany, but nothing which is actually going to change something big in the short-term. >> well, we'll continue to follow the political twists and turns out of germany as well. thank you for the reporting today. in other corporate stories, nestle lowered its 2025

profitability the target and announcing plans to step up and trim costs in a move that expects them to save 2.5 billion francs by 2027. the consumer goods giant announced plans to split off its water and premium drinks business from the est of the company. let's get a look at futures at this stage. it could be a mixed start to the day on wall street. we have flat moves after what was a session yesterday where we saw some of the major indices slightly higher on the day. the s&p was up .4%. the nasdaq up .6%. however, looking at the dow, it traded lower on monday. let's discuss the u.s. equity space with david newhauser. >> good morning. >> since you have been on cnbc, there has been a huge event

which was the u.s. election and we saw the so-called trump trade dominating the markets. what i would like to know is if you share the optimism for the u.s. stocks. >> i think that is a great question. the race was so tight. it wasn't leaning one way or another. in different times, as you led up to the election, you saw different parties take the lead and jockey. i think the former president became the president-elect, president trump, and i think now all of a sudden, that renewed the imal spirits as they call it with investors. it lays the foundation for the next four years will bring and keep tax cuts for businesses and see further growth and optimization of government. those are all huge positives that could obviously increase earnings over the next several years. on that front, i think investors

are actually cheering that. i think what we don't know is all of the unknowns. i think the unknowns are essentially the tariffs and how onerous some of those things could be and the effect on global growth. overall, i would say it's very positive. >> let's talk about some of the sectors. which sectors would you not want to own as a result of potential tariffs from the united states? >> so, i think the obvious ones is the -- realistically, anything to do with industrials. you described autos and anything that is looking at exporting. so, those are some of thethe concerns i would say today. ultimately, i think it affects spending domestically and globally. that is down to gdp if we see, again, tariffs that take hold. the view is the tariffs are a

negotiations tool for the administration and i expect that to happen, but the world also understands that, too. the question is how hard are you willing to push and, you know, is there a true negotiation that's going to take place. that may ultimately be the key. if things can go somewhat smooth, then, you know, things could fall in line and that could be very positive for the u.s. and earnings over the next several years. even global growth could recalibrate to some extent if we have a good understanding of tariffs. again, it's a very slippery slope. again, if things get extremely, you know, onerous, like i mentioned, you can see that affect global growth and it could affect the u.s. as well. it could further strengthen the dollar which could have a knock-on effect as well. >> i see you keen on energy at

this stage. explain why. what is the narrative that is making you bullish in stocks? >> it's not so much bullish on energy stocks or energy because oil has been in a tight ban. mostly because of china slowness. i think what the difference is because the u.s. is aligned with the trump administration is the positive is if you view the administration being more hardlined on iran and perhaps seeing some of the barrels come off the market, that would tighten prices and you would see them, you know, move up, you know, a good 5%, 6%, 8% on target. that would have an effect on the oil companies. they have been a value play because they have been so weak. >> any particular names you are looking at? >> we own a few which are mainly small caps. you know, things like

diversified energy. there's a number of companies in the u.s. and even in the uk which could benefit from, of course, higher oil prices because there's a lot of value in those stocks, but i'll ust say there's a good basket there to buy if you feel that's the case. things that pay yield have buybacks and dividends are key. >> let's talk luxury as well. one of the stocks that you were looking at is burberry. perhaps we can share the chart for burberry. i was discussing with my colleague charlotte, their turn around plan. are you convinced by the announcement? >> it would be clear we have a position in burberry, but it's fairly nominal. the view in the past, six years since brexit, livermore had a position in burberry and we were pushing for them to make changes.

we saw that happen. the share price reacted well. we made 40% or 50% on that. great trade and great company. today, much different landscape. today's landscape is asia which makes up a number of sales for the luxury players, including burberry, have slowed. you have the covid overhang which is affecting a lot of investors and also as far as consumers because now it's affecting their personal balance sheet and also not paying up for a lot of these brands. i think in the short run, you will see luxury fall into the lower value bucket, i should say. there's going to be winners and losers. i think burberry has a good turn around in place with a new ceo. the question is timing. so, i think t's going to take longer, but i think as the shares were so beaten down and blown down, it created a really good opportunity. >> how were you looking at the

announcement from the chinese authorities in terms of stimulus? there were many members of the investment community that were not pleased with the announcements. they would like to see something, perhaps, more bullish or active really. are you concerned there might not be stimulating the consumer as much and the wider repercussions it could have for luxury names? >> yeah, i think's sort of built into china. if you ask anybody how china is doing, they are doing terrible and weak and not doing enough. the market is up, but at the same time, the government is propping that up. we care about burberry and luxury what consumers are doing. a lot of the consumers are stretched and they are not, obviously, buying and traveling as much as they were. back to the trump administration coming in may have effect again if you see tighter, you know,

stringent traveling out of china and also luxury could feel that effect, too. i think over some time, a good turn around by burberry with strong leadership could really see the stock price increase. i also think there's potential for m&a for someone to swoop in in time. for me, it will take a long time and short run, there's good value. >> david, we didn't discuss gold today or the fed. i wish we had more time. that was david newhauser, founder and ceo of livermore. coming up on the show, keir starmer meets xi jinping on the sidelines of the g7 with both stressing the need for cooperation. we'll discuss more after this break.

ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even a term policy! find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com.

welcome back to "street signs." now into the geopolitics. prime minister keir starmer met with president xi jinping on the sidelines of the summit in rio. they discussed human rights and the chinese sanctions against british mps. xi and starmer agreed to broaden the dialogue. the uk prime minister confirmed chance for rachel reeves to hold talks with the chinese counterparts on the financial and economic ties. starmer wanted to improve the uk overall relationship with china. >> we want our relations to be consistent, durable, respectful as we have agreed. avoid surprises where possible and strengthen dialogue should provide stronger understanding.

the uk will be a predictable, consist sovereign actor. >> in addition, the uk prime minister keir starmer ruled out ukraine supplying missiles to strike inside russia after the u.s. reportedly made its own policy adjustment. the support of ukraine has hung over the g20 summit signaling weaker support for kyiv as it marks 1,000 days of war. watering down the russian invasion. in addition, the germany chancellor olof scholz expected to meet with xi jinping to talking about durable goods following the report that the factory is producing military drones for russia. it comes as the german

automakers is facing competition from its chinese peers. and xpeng ted a third quarter loss. the chinese ev maker said it expects fourth quarter vehicle deliveries between 87 and 91,000 and revenue up to 62.2 yuan. staying in the carmaker space, northvolt is considering applying for chapter 11 protection in the u.s. after the discussions around the rescue package fell through according to the financial times and reuters. the swedish battery manufacturer has reportedly missed several goals and will not meet its full-year target amid production. northvolt told cnbc the review is ongoing and did not want to speculate on the reports. i'm pleased to say the transport

for logistics is joining us this morning. rick, good to have you on the show. let's get started by looking at northvolt. i had a chance to visit the manufacturing plant in sweden not too long ago and at the time, the narrative was so positive. we actually had a lot of european officials looking at northvolt with some sort of hope for the strategic autonomy as well. now the company is really struggling. what is the outlook here and should european officials come and support this company? >> well, first of all, it should have been one of the emerging frontrunners in europe. it is still very important that the company will survive for strategic autonomy, well, the policymakers pursue in europe. hopefully the company will make it because otherwise europe will lack more compared to china in

terms of building supply chain for evs. >> what i like to understand is the political appetite to provide the company with funds because ultimately that's what they need. would you say so? what would you like to see? how could this rescue actually look like? >> that's a very fair question. i don't have the answer to be honest. if you look at the plans from the european parliament and the policymakers in general, they seek to build an economy and they want to ramp up ev supply and also sales. so, you should be able then to make the companies survive, i would say. this is only one of the examples within the industry. there's more needed and required to build autonomy and to reduce the dependency on china for batteries. >> rico, let's look more broadly

at the state of ev production. there's been so many setbacks really. what i like to understand is how are -- you know, how are the european companies comparing versus chinese and american ones? are there any sort of actual developments that would suggest that ev production is completely, you know, for lack of a better expression, not dead? >> that's the european carmakers struggle to keep up with the chinese car manufacturers. in terms of electric battery vehicles. actually, the chinese companies are far ahead in terms of productivity and innovation on evs. that's a real struggle for european carmakers at the moment. in the first place, also in the chinese market itself, because they're losing ground there at the moment.

well, it speaks coverage of european brands was 2/3 of the market in china. now it is 1/3 only. then we have the faltering demand for evs in europe itself. it is stagnating in europe. they're facing a lagging and subdued demand on both sides. in the meantime, they need to keep up with the chinese new competitors and they also face the co2 targets next year. it's a real perfect storm ongoing here. >> we were just reporting how the chancellor of germany olof scholz will be meeting with president xi jinping and discussing the issues in the carmaker space. i would like to learn if there is any sort of deal that could see the elimination of the ev tariffs that the europeans have imposed on chinese produced

cars. >> you have to understand this are still negotiations ongoing in the background. we still have the investigation on the support of the government in china itself and the open market. that won't change with that, right? while the level playing field, so to say, needs to be, well, adjusted to let these european manufacturers compete rightly with the chinese ones. well, i doubt whether there will be a solution for that. that also fulfills the expectations of policymakers. >> what about the re-election of donald trump? has this outlook for european carmakers actually worse? >> it really adds to the perfect

storm that we already see. several european carmakers are exporting loads of cars to the u.s. and not all of them are producing all of these cars in the u.s., of course, so this varies from 4% to 7%. that means they still rely on exports out of europe, particularly out of germany. so, it really affects them if import tariffs will be imposed because it makes cars simply more expensive in the u.s. and they will lose potentially market share in the u.s. itself. >> wow. we will see what will happen in the space. particularly when donald trump is actually in the white house. thank you for your time this had morning. that was rico, senior economist for transport logistics at ing.

coming up on the show, walmart kicks off a string of u.s. retail earnings today. we'll get a look ahead really at what to expect after this break.

welcome to "street signs." i'm silvia amaro and here are your headlines. the germany industrial con grom last gets hit by a $1 billion impairment charge on the struggling steel business. nestle lowers it's 2025 profitability target while ramping up cost cutting measures with 200 billion francs in

savings by 2027. the uk ftse 100 out performs, but investors continue to feel the pressure as equities fail to follow the asian counterparts higher and the u.s. futures point to a muted start on wall street. the president-elect donald trump taps sean duffy to head up the transportation secretary as the transition team infighting. time now to get a check on how we're trading so far in today's session. looking at the benchmark stoxx 600, we are currently moving lower. yesterday, the stoxx 600 ended the session marginally below the flat line. at this stage, we are seeing more considerable losses with

the stoxx 600 down 1%. let me take you to the different bourses to get a better picture of what is happening across the european continent. earlier today, the ftse 100 was trading in the green, but we are now lower down .50%. the xtra dax in germany trading down 1.3%. very similar moves in france with the cac 40 down also 1.4%. this as we are seeing even more pronounced moves to the down side over in italy with the mib down more than 2%. it was also the mib that was the worst performing bourse on monday. we are continuing to look at the equity space as the investors are looking at the trading day and not real you sure ly sure w take their portfolios. we'll see. and in france, farmers

escalated protests against the trade agreement with the european union and south america which they claim is ing unfair competition. they protested traffic. the eu maersk deal was agreed in 2019 has faced opposition from a number of european countries. in the uk, farmers are set to protest today over the inherent tax proposals. under the plan, the government will impose a tax of 20% of farms worth more than 1 million pounds. the environment secretary steve reed, said 200 of the 900 farms would be affected. the union says the government numbers are misleading and around 2/3 of farms will be impacted.

staying in the uk, a string of u.s. uk retailers written to rachel reeves over the job losses. they say the costs will be raised by several billion pounds next year alone are seeking discussions with the treasury. staying in the retail space, we are set to hear from major u.s. retailers over the next week as investors look for signals on consumer strength and guidance for the all important holiday period. the biggest name in the sector, walmart, is first up today with forecast eps and revenue growth of around 4% on the year. we also get insight into the u.s. housing market and the demand for big ticket items with home improvement retailer lowe's. revenue is seen falling over 2% on the year with earnings expected to slide more. we'll find out when the company

actually reports. in the meantime, the head of financial analysis of ag bell is joining us. good morning, dani. good to have you on the show. give us a sense of what we are likely to hear from retailers stateside and what does it suggest in the terms of the health of the u.s. consumer? >> i think the big word we are getting from a lot of retailers is resilience. the u.s. consumer has been spending. the last lot of retail figures were a bit more y than people were expecting particularly with auto sales and electronic items. but, of course, there are concerns the cost of borrowing is still high. the fed has cut rates, but isn't looking like it's going to cut much more as far and as fast as people had expected and that is impacting sentiment. i think where we are talking

about middle income americans, they are going to demonstrate more resilience than the lower end of the market. we are certainly already seeing a number of retailers like walmart and like target announcing cut price baskets of goods ready for christmas in order to support their value retailer. >> danni, we also thought in terms of credit card debt stateside, to what extent is this likely to be a problem and whether people will actually increase the credit card debt going forward? >> the new york fed said we hit a report of $1.7 trillion of credit card debt which is a huge amount. the elinquency rates show that is lowers and the consumer is managing that. in the pandemic, consumers used

up savings so debt levels well. now in order to make ends meet and make sure they can still get in their baskets the kind of products they are used to putting in their baskets, they are having to turn to credit. it does look there is still a bit of flexibility there. the national retail federation sect expects over the holiday period an uptick in sales, but not as much as last year. it does suggest that some consumers are thinking carefully about what they're spending and when they're spending it. they are looking for value. they are making sure they are buying what they want at the price they want and in some cases, that means they're cutting back on other things. we certainly had an update from lots of the restaurant companies saying mcdonald's where people weren't spending as much there because they are prioritizing things like christmas. >> let's look at walmart in more

detail given we'll hear later on from them. perhaps we can show the chart that shows walmart because they had such a strong run so far this year. their shares are up 60% year to date. i was just triple checking my figures on the screen. what i like to understand here, danni, is whether this good run is coming to an end or whether you think they will actually continue to show strong numbers later today? >> they out performed the last quarter and there is every indication that is going to continue. walmart have just really focused in on their core market making sure that, perhaps, customers who are trading down can find what they want. particularly the middle income earners that have been perhaps more protected with the impact of inflation over the past couple years have been going to walmart. also, they have been really seriously thinking about the labels they're carrying.

a lot of private labels have been the choice of consumers maybe looking to trade down. walmart really focusing in on what people want to buy and the price they want to pay for it and that has led them to out performance certainly a lot of analysts expect that will continue. >> well, let's bring the conversation closer to us. looking at some of the dynamics in the uk retail world. i was just wondering if you are forecasting will actually see shein listing in london or if those concerns are set aside for now. >> there's a lot of expectation that the shein listing could really boost london markets. on the other hand, there is a lot of concern about potentially that would say about london markets. there is concern, obviously, about shein's business

practices, although it consistently said it wants to be transparent. certainly, a london listing means it would have to be more transparent. whether or not it happens, there is mounting expectation that just maybe we might finally get that listing, but clearly there is still quite a long way to go. >> well, let's just get a final check on what are your expectations for the upcoming business season for retailers both stateside and in the uk. we're approaching christmas which is a critical period for retailers. when you think about the level of interest rates, when you have come down from the levels we have seen last year, is that likely to support consumers this time around or do you think we'll see a similar dynamic from last year? >> i think we'll probably in for a similar dynamic from last year just because consumers are still a little nervous about what might come on both sides of the atlantic. there's been a lot of political upheaval both here in the uk and, of course, with a trump

presidency now happening in january next year. there are potential changes. things like tariffs which could impact the u.s. inflation figure and, thus, potentially, keep rates higher for longer. that is something that some consumers will definitely be thinking about. here in the uk, of course, we had retailers warning that price hikes are likely because of changes to national insurance and to the national living wage and things like additional packaging tax which is hurdling toward the retailers. so, all of those things are just really keeping sentiment in check. i think people will still be spending, but they will still be watching very carefully what they're spending their money on and making sure it stretches as far as it can. >> well, not long now. i'm sure we'll have interesting numbers post christmas season. thank you for your time. head of financial analysis at aj

bell. let's get a check of how we traded this tuesday in asia. looking at the major markets in the asian continent.basically, the board. nikkei 225 ended the session up pounds up .50%. we saw the dollar dropping off from the one-year high recently. of course, that is still overall the dynamic impacting japanese exporters there. when you think about some of the bourses, some of the chinese equities, looking at hang seng down .4%. shanghai finished up .60%. all in all, the asian equity space has more sentiment for some of the asian equities. i want to take you to some

of the developments out of asia where our colleague emily caught up with the oaktree capital chairman howard marks on the global financial leaders summit. he gave his thoughts on the recent stimulus measures and asked about the changing interest rate environment. >> the stimulus announcement itself doesn't change my mind. i'm still optimistic on china's long-term possibility as long as they execute well and as long as they remain constructive with regard to the rest of the world. you know, they -- none of this is going to work unless they are an active, cooperative member of the world community as today's forum indicates the desire to do, but, you know, they have great resources and purposeful

and organized. respectful of the role of the private sector. i think these are -- and they need growth to satisfy their ambitions, so they have to provide monetary and fiscal policy and remain a cooperative member of the world community. with that, i think the outlook can be good. >> now emily also asked the hkex ceo how big a risk donald trump's return to the white house could be to the market. >> we did see some risk before leading into the election. that is because investors do not like uncertainty. however, once the election is behind us and we know who's going to be the next president of the united states, the liquidity returns and the trading volume came back up. therefore, i think, you know, the market will learn to cope with the new normal, shall we

say, and in fact, this is the second time trump is president. i would say our market has proven time over time that it's able to show the resilience and work through different cycles and ups and downs through the market. i'm quite confident. >> it was a busy day for emily. she had a chance to speak to the hong kong financial secretary asking him how president-elect trump pping marco rubio as secretary of state over how to do business with the united states. >> we continue to engage our various business partners. american has strong business interests here. there are about 1,200 american companies here. when we look at the reason capital flow, our capital market rallies since the end of september. about 80% of the investment, the buy side, is from u.s. and

europe. this is a testament to the investment opportunities in this part of the world. >> u.s. president-elect trump has signalled major trade disruption ahead if a trade war does materialize. this could impact exports. hong kong re-exports. how is hong kong preparing for this? >> well, over the years, we have observed the mainland supply chain as well as the industry chain has gone full transformation. part of this process has already moved to southeast asia. so, one of our responses, naturally, is to serve in that process in terms of supply chain management and finance and consulting services on esg and legal compliance and talent. a multiprong approach to this response of shifting geopolitics.

coming up on the show, u.s. president-elect president trump reveals more of his cabinet picks. we'll bring you more after this break. let's go boys. the way that i approach work, post fatherhood, has really been trying to understand the generation that we're building devices for. here in the comcast family, we're building an integrated in-home wifi solution

for millions of families, like my own. connectivity is a big part of my boys' lives. it brings people together in meaningful ways. ♪ ♪

welcome back to "street signs." as we approach the end of the show, here are the four things to get you up to speed ahead of day on wall street. we still get housing starts and building permits stateside. it is also deadline for the judge in the president-elect trump's hush money case to rule on whether the jury should be set aside and the indictment dismissed. the retail earnings are kicking off today with walmart and lowe's to reveal numbers.

and microsoft chairman and goldman sachs' ceo will join us on cnbc later today. meanwhile, the justice department will ask the federal judge to force google to sell off the chrome browser. that is according to the doj to ask the judge to impose strict measures. the judge found in august that google had illegally monday opod the search market. elsewhere, super micro shares are higher after naming bdo as auditor. the company completed the annual report to june 30th and the quarterly report ending september 30th, but did not give

specific dates. this after the company listing came under threat when it failed to submit the reports by the initial deadline in august. looking at u.s. politics, president-elect trump named former congress member and fox business host sean duffy as his pick for transport secretary. he is the second former fox host tapped to serve in the incoming administration alongside pete hegseth who trump wants as his defense chief. donald trump is widening the search for the treasury secretary with marc rowan and kevin h in the running. this after john paulson ruled himself out last week. scott bessent and howard lutnick are also in the running. senate are expecting confirmation hearings to be an

uphill battle. nbc's brie jackson is joining us with more. brie, over to you. >> reporter: good morning. some republican senators are demanding to see the house ethics committee about matt gaetz. some say it should not be released because gaetz is a private citizen. president-elect trump's cabinet picks under scrutiny. >> this white house will be one giant conflict of interest. >> reporter: on capitol hill, there is growing criticism of mr. trump's selection for attorney general matt gaetz. the house ethics committee reviewed allegations he had sex with a minor. joel leopard represents an alleged witness. nbc news is not naming them.

>> her believe is representative gaetz had no knowledge she was under 18. she was 17 years old at the time he was having sex with her. when representative gaetz found out, they stopped the relationship. >> reporter: gaetz, resigned from congress last week, denies the allegations. the house ethics committee meets wednesday to discuss its investigation. law makers are divided over whether the committee's report should be released. >> the facts are going to come out one way or the other and i would think it would be in everybody's best interest, including the president's not to be surprised. >> reporter: trump is urging senators to support his pick to lead the justice department while also confirming his plans to uphold a campaign promise on mass deportations. his selection for border czar is doubling down. >> we'll take the handcuffs on

i.c.e. >> reporter: the president using a national emergency and using the military to implement his mass deportation program. in washington, brie jackson, nbc news. >> when it comes to the house ethic's report, some lawmaker here on capitol hill are demanding that report be released. so, lawmakers do expect to meet tomorrow to discuss that matter. back to you. >> thank you for the reporting, brie. let's get a check on how european equities are trading at this moment. we were lacking direction at the start of the trading day today, however, looking at european bourses today, at the moment, we are lower. dax down 1.3%. that is it for today's show. "worldwide exchange." is coming up next. it's like having your own personal language coach.

babbel offers live classes with expert teachers for real world conversation practice. it's totally flexible so you can learn at your own pace and with the right practice and coaching, start speaking a new language in as little as three weeks. go to babble.com to claim your limited time offer today. there are some feelings you can get with any sportsbook. start speaking a new language in as little as three weeks. ohhh! the highs! no, no, no. the no, no, noooos - oooooooo! the oh, oh, ohhhhs! now whatcha wanna do with this? but the feeling that, no matter what, you're taken care of. ohhh, i just earned a hotel suite! hee! you only get that here. at the sportsbook born in vegas, where they know how to treat you right. who you talking to jamie foxx? bonus bets. exclusive offers. real world rewards. betmgm. download and bet today.

your business needs a network it can count on... even during the unexpected. 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! it's from the company with 99.9% network reliability. let's power on! power on with the leader in connectivity. stay connected with comcast business internet and wifi back-up or get started for $49.99 a month. plus ask how to get up to a $500 prepaid card. call today!

breaking news this morning. war in ukraine front and center. ukraine using u.s. long-range missiles for the first time against russia. a short time, the russian president talking about nuclear weapons. markets overseas are pulling back as well. we have the latest on this tuesday, november 19th, 2024. right here on "worldwide