just a sweetheart. [chuckles] [soft music] [theme music] ♪ hello, welcome to "street signs." i'm dan murphy. european equities march higher with the u.s. markets offline with the thanksgiving holiday. after a report of u.s. curbs to china could be lesson onus than expected.

the french government is willing to make concessions on the budget. >> translator: whatever the difference in values that we hold, countries facing a serious situation right now. prime minister spoke of the storm which is not a word he would use my chance. it's a word that has financial and economic and budget reverberations. and remy insisting it can ride out the threat of trump tariffs and focusing on cutting costs and improving margins to offset duties from china. and direct line surges to the top of the stoxx 600 after rejecting a 3.3 billion takeover bid from aviva saying it substantially under values the company. welcome again to the program. great to have your company this hour. we begin with two major stories in europe impacting risk assets

right now. the first is inflation data out of germany. of course, the looming political and budget crisis in france, two events that could weigh on the fiscal and political balance in the european union's two biggest economies. all this with the trade tariffs from the incoming trump administration. a reminder, the u.s. is closed for the thanksgiving holiday. we will be escaping what perhaps will be a rough u.s. open. here is the heat map in europe. stocks live and trading. you can see we are just a little higher today. better by .50%. the stoxx 600 at 507.83. the france budget crisis taking center stage with the fret of the future economic and political stability of the second largest economy in the bloc. let's show you french markets trading right here and right now looking across the major i y an

london stock exchange in focus here. the cac 40 defying the headlines up .5%. germany .7% stronger and ftse up .2%. as we mentioned in the top stories, let's go straight to the winners and losers in the session starting with the sector gainers. across the board here, this is what is moving markets higher. it's technology stocks up 1.7. banks reporting a 1% gain here. construction and materials and industrials also out performing. dragging markets lower though is this, these are among the sector losers we are tracking in the session today with regards to where we stand is household goods pulling lower by .2% and real estate and basic resources rounding out the bottom three. let's get to breaking news.

we are getting fresh numbers out of germany with regards to the inflation picture. of course, these are closely watched. these are preliminary inflation figures for november of 2004. later today, we are expected to see inflation pressures here in food and services. you can see here the numbers for bavaria crossing here down .2%. plus 2.6% year on year. this is important. about bavaria home to siemens. that is up from 1.9% in september. these inflationary pressures are persisting here. we are getting numbers out of germany's industrial heartland with regards to the numbers that we saw there, this was, of course, closely watched as well.

inflation up 2% in october. that is up from 1.5% in september. we're seeing these inflationar yourks pressures continue to build here. we are expecting preliminary inflationary figures due out later today. on the whole, inflation crossing at 1.6% in september and 2% in october. that uptick driven by food prices and services sector, inflation and lower energy prices also playing a role to perhaps limit the upside pressure. we will continue to follow this for you. euro/dollar at 1.05. a lot of moving parts. a lot of factors influencing the currency trade right now. we'll continue to update you on the german inflation print as soon as it drops. we'll get the first print out of germany later today for november. markets are expecting 2.6% uptick on the year.

that comes after wednesday's consumer sentiment print growing to pessimism. volkswagen announcing plans to shed thousands of jobs. let's take you back to the top story and 54% of french people say a no confidence vote of michel barnier's government. it comes as markets continue to grapple with the risk of political uncertainty and national rally leader, marine le pen will vote against the budget if rejected. let's show you yields in response to this. certainly, one of the most interesting stories to track today and over the course of the week. with regards to what we have been seeing here, of course, a lot of moving parts. the spread on the french and

german yields at a 12-year high. the two-year in france on the move as is the ten-year. we are seeing german -- french debt rated at the same level as greek debt as this point. clearly, a lot of concerns about the fiscal outlook in france right now. let's unpack with charlotte reed from london. charlotte, it is not just the gap with the ten-year, but the widest since 2012. it is the french risk assets that hang in the balance as we see the negotiations continue to play out. >> yes, that is because we are in the final stretch of the negotiations for the budget for 2025. they are adhering to the political warning with the michel barnier warning of the storm in the financial market if the government is ousted. you remember they are trying to make a 60 bill eurozone adjustment to the budget from

above 6% this year. that's why the negotiations are going at the moment. me are trying to reach majority. the national assembly is extremely fragmented between three blocs since the snap election in july. trying to reach majority is difficult. that is why michel barnier and his government are trying to reach these negotiations and it has been quite difficult. we know this government very much depends on the support of the far right group. marine le pen has had a vote of no confidence earlier this year and the far right did not support it. that's why the government did not fall. there will be a first vote on the budget next week. listening to the tone from marine le pen, she is making her tone tougher. the budget as it is does not support it. that's why we're seeing some of the moves starting on the market that maybe this government might fall soon. the question is what's next? the national assembly will stay the same whether the government

falls or not. the national assembly will remain the same. as difficult to come up with some compromise and measures to try to tackle the deficit. the issues are at play at the moment and the next couple weeks. it is interesting to hear from the finance minister speaking this morning on tv and saying that you cannot compare france to greece after the moves on the bond market yesterday. >> translator: france is not greece. france is an economy and employment situation and economic activity and attractiveness and economic and demographic power that are far superior. that means we're unlike greece. what did yesterday's episode, which lasted a few minutes, you mentioned on borrowing costs tell us? it told us some countries did their work. they were in the red, but they pulled up their sleeves and told citizens it will be difficult. greece, italy, spain, have all gone through this. if we do this together, tomorrow, we will be able to

invest once more. >> saying france needs to speak to the citizens and make more cuts and efforts. you know how politically difficult that might be at the moment. certainly saying his government is ready to make concessions. he is opening the door to other political isk to get majority there. if they don't get majority, they have to get to push it through the sm to push through without a vote and that triggers a no confidence vote. we don't know if they have support from other political groups. >> charlotte, i appreciate the update. thank you for joining us with the developing story. for more, we turn to jason dasilva. jason, welcome to the conversation. thank you for being here. as you heard, the market now believes in some corners that french debt is as risky as greek debt. what are the main factors

contributing to the selloff in sovereign france, but other areas across the risk asset complex here? >> sure. we have seen since europe, the french political issues in july some difficulty for sovereign debt in the nation specifically. i think it is the broader picture in europe more broadly. it has been relatively week compared to the u.s. i think there's a real worry from the market. excluding the pure fiscal issues. growth is not going to be as good as we expected at the beginning of the year for europe. so, i think it's feeding into what we see now. this is a story since -- since the middle of the year. you know, you have seen it as well in the uk. when borrowing increases and fiscal deficits go up and you couple that with a pure growth outlook as well, i think we probably expect this to carry on.

tariffs, quite frankly, that the trump administration is ear marking is not going to help the situation. europe will see a bit of sogginess and like we saw in the beginning of the decade in 2010s, likely to mean sovereign debt will be under pressure a bit. >> okay. back to a 2010 moment. we're not heading to another eurozone debt chriss?risis? >> no, no. in terms of the riskiness of the european debt especially with european growth being soggy, you will see ads increase a bit. certainly not in 2010. the level of riskiness will increase. >> so, of course, we are watching the situation in germany. we are atching the situation in france with regards to what could happen next. in your opinion, what are the potential consequences if we saw

barnier's government ollapse with the budget dispute? how would this impact the landscape moving forward if you are looking to add exposure moving forward? where should you be looking right now and why? >> so, look, certainly the political upheaval is going to, you know, is going to cause some ripples across european investing. you couple that with german political situation as well. i think more importantly this is -- this is a compact debt europe needs to figure out. you have seen in the u.s. a lot of deregulation and a lot of -- a lot of pro-business agenda. i think with europe, with fiscal tightening that is occurring across europe and the soggy economic back drop, hopefully this spurs on more impetus from the politicals leaders in europe to really think about what's going to lead to growth going forward.

i see this as potentially as a good step going forward. sometimes you do need to take bit of pain from the market to get the political leaders to understand what is needed to grow the economy. that's going to be particularly important with tariffs coming through. and i think that's why you are seeing particularly in germany, a political -- a political volatility there. i think there's a recognition from political leaders in europe that more needs to be done and, so, potentially, this could be a bit of pain now, but in the long term, good for europe. >> jason, investors globally trying to determine now who really is the sick man of europe. you mentioned germany as well. i want your take on what we can expect to see from the inflation print later on today as well. we're seeing persistent inflation pressures and inflation has moved up over the last few muns. months. what do you expect to see today

and with the ecb as well? >> sure. of course, there is a little bit of volatility with the inflation print at the moment. we saw european wage growth elevated in the last print. overall, our thought -- inflation should follow the economic trajectory in europe. we think inflation in europe actually subsides going forward. we actually think the recent commentary from the ecb maybe up until the last week was very, very dovish. we probably expect that to continue. we see europe being, out of all the banks on the continent, being the most dovish because of the economic back drop. you can't defy the laws of economic weakness. we still think the ecb in order to support the -- support the economy and particularly with, you know, the political volatility we are seeing at the moment, the fiscal, the relative

fiscal tightness of europe relative to the uk and u.s., the bias for the ecb going forward will be to the down side. >> okay. and is that also based primarily on how the ecb is going to determine the inflationary impact global ly of trump 2.0? >> basically, we see the trump agenda which is a concern for inflation which is a surprise to the upside. what we are actually seeing going forward is die verdiverge. european inflation, notwithstanding the u.s. profile will be to the down side with the economic weakness. if you think about all of the hits that europe is taking in terms of industrial production falling due to auto production

in europe quite soggy in general. this is the team occurring in 2025. divergence and inflation and profiles and divergent. we think notwithstanding trump's risk for the u.s., european inflation will still be relatively contained into 2025. >> okay. jason, really appreciate your take on these twin stories in europe. thank you for your time. jason dasilva at arbuthnot. thanks again. stay with us on the program. just ahead, remy shaken, but not stirred. warning of the results over the 2030 guidance. we'll bring you the full story on the other side. we're back in two minutes.

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welcome back. curbs on the sales of semiconductor equipment and memory chips to china that the u.s. is mulling could stop actions considered. that according to bloomberg which says the restrictions could be unveiled next week. remy avoided a first half profit decline coming in at just offer 147 million euros. this despite sales coming in lower. the drinks giant now expects organic sales to drop by as much as 18% this year and affirmed the outlook for the 2029 and 2030 fiscal year.

charlotte is joining us with more. charlotte. >> the stock is in the green up 4% this morning. profit fell less than expected. still some difficult news. a lot of it is priced into the remy shares down 47% over the past 12 months. these numbers had a lot of warning from them back in october when they published sales numbers. they warned of the outlook with the double digit sales numbers. sales down between 15% and 18% for the full year. they have a slowdown in china and sending less cognac there and tariffs coming into play and tariffs up to 40% on cognac which started to come into play. they are also suffering in the u.s. that was most difficult for the company in the second quarter. sales down 23% in americas with the destocking there after the boom after the pandemic.

they continue to focus, the company, on the cost cutting and margin with the 15 million euro cost cutting plan. they are pushing through this and putting off the prices for the tariffs. all of this is flagged earlier by remy. still going forward and into next year with the chinese tariffs continuing and potential tariffs coming back in the u.s. with donald trump coming back to the white house. you remember in his first mandate, a 25% tariff on french wine and cognac. this could come back into play. it is look ing around 10%. the 10% tariff would not kill them and adjust pricing according. remy shares in the green this morning after a lot of the bad news had been flagged and priced in the outlook showing that maybe there's a bit of a turn around in the u.s. despite the uncertainty around tariffs.

>> charlotte, thanks again. moving on. in the british car insurer direct line has rejected a 3.3 billion takeover bid from aviva. aviva said it offered a 57% premium to the closing share price on wednesday. it is the second takeover bid it received this year having turning down the offer from the belgium insurer in february. the german union threatened action against the companies after announcing hundreds of job losses. the union said it would be a quote marathon saying ig metall will bring all of the anger to the the streets. it comes with the body in action over volkswagen. and the germany utility company saying the settlement will release funds that it

previously set aside funds for the litigation, but did not specify which case it was. in june, uniper won a case against gazprom. we have annette weisbach with more. >> reporter: the money they got from the settlement is between $550 million and $560 million. it is bang in line with what we have now with the improved outlook for 2024. the shares, the small fraction of shares which are still trading in frankfurt, have reacted positively to the outlook. uniper is owned 99% from the state after the russian invasion of ukraine. that was their business model to

deploy russian gas in germany. with that gas stop, this model completely collapsed. hence, they were rescued by the state. now the german state has brussels in its neck. they need to reduce 25% by 2028. it still looks like a far distant point in time, but still it is not for capital markets and for that huge amount of money they need to raise given uniper's business model is not easy to understand. it is hard to convince investors to invest their money into the company. so, what are they doing else's?? they are saying the nuclear energy in sweden is at the core. they are waiting for a so-called gas plan strategy here in germany where every utility waits for that desperately. they want to invest in that and needs time to produce gas plans

at a bigger scale. then they are also waiting for the hydrogen infrastructure regulation in germany because that is another growth area also for uniper. so, everything hinges on berlin and a new government with the new snap election in february in germany. all in all, uniper wants to make itself for beautiful for the capital market because the plan of the government is to ipo it at some point in time. reports suggesting that the government is looking into selling a 25% stake as soon as next year if there is enough appetite for uniper. of course, the appetite depends on how lucrative the business model looks like with the guidance for 2024, potentially, that's the first step toward making it more lucrative and more interesting for investors.

>> annette, thank you so much for the update. we appreciate it. let's move forward and give you an update on the price of oil right now as well. we have also learned that opec has changed the date of its december meeting and this has everything to do with scheduling and nothing to do with strategy. of course, there is a gcc leaders summit on the 1st of december in kuwait which clashed with the previously scheduled opec meeting. of course, getting all of these countries aligned is no easy task. that's why members are now meeting on december 5th instead. opec sources have told me this is about timing and nothing more. analysts have also been telling us through the course of the day there is no disagreement with member countries at least for now because the group is more focused on managing market fund fundment als and the uncertainties with the political developments in the middle east

and tariffs, of course and trump 2.0. with all of that in mind, we are seeing oil move down. we have more on this over at cnbc.com. do not miss our first reporting there. coming up on the program, nova holdings ing a fish genetics company. we will speak with the senior partner on the other side of this. stay with us. hey, can you speak french? who, me? i know a few words. if you're struggling to speak a new language, you should try babbel, a learning platform designed by over 200 language experts. 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.

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you are live on cnbc. this is "street signs." i'm dan murphy. let's recap the top stories. first up, european equities march higher with the u.s. stocks offline with the holiday.

plus, france's finance minister says the government is willing to make concessions on the budget as it looks to avoid a no confidence vote that he says would create financial turmoil. >> translator: whatever the difference in values we hold, countries face an extremely serious situation right now. the prime minister used the word storm. it has budget reverberations. remy fall less than expected with the drinks maker insisting it can ride out the trump tariffs to offset duties from the u.s. and china. direct line surging to the top of the stoxx 600 after rejecting a 3.3 billion pound takeover bid from rival aviva saying the offer quote substantially under valued the company.

the thursday session live and trading across europe. let's get you a pulse check on what's moving right here and right now. earlier, we flagged markets are climbing higher. perhaps climbing a wall of worry. the stoxx 600 better than by .6% right now despite what could be a looming budget crisis taking center stage in france with the investors fretting about the economic and political stability of the second large of the economy in the plok.bloc. that comes, of course, with the fresh data out of germany later today. let me give you a country specific look at what is moving. with regards to france in particular, we have seen the markets moving higher up .8% on the cac 40. we have seen the gap between french and german ten-year yields at the widest since the

eurozone crisis in 2012. this brewing political crisis, plus the debt and deficit situation inside france, means the premium that investors demand for holding french bonds over german bonds surged. investors viewed french debt as being on par with greece. with he have spoken with analysts who say it's ridiculous, but for its own part, citigroup warning the spread could wide further potentially reaching 100 basis points if conditions do not improve. remember, this also comes as we see u.s. treasuries uninverted or reinverted. however which way you want to put it. maybe we can get a pulse check on that ter on. we see the stocks in italy .6% higher.

construction and industrials and banks climbing higher. in terms of the sector losers, not much pulling markets lower. oil and gas and chemicals and household goods in good territory. real estate is down 0.09%. nova holdings in focus. it is buying the benchmark genetics for a value up to 260 million pounds. it says this deal aligns with the focus on agriculture and tech to drive growth, innovation and sustainability. joining me for more on this is johan. the senior partner and principl. thank you for joining me. what is the benefit of folding novo holdings into benchmark? >> thank you for having me on.

we are excited about this. we think this is a great space. salmon is a particular source of protein with a great environmental footprint relative to other sources of protein. the world wants more salmon. supply is focused on norway and other markets. we think there is an opportunity to enhance the supply of salmon using the benchmark genetics. we are excited about that one. it is our second acquisition in norway in the salmon industry in the space of about a month. we are really doubling down on this one. >> the world wants more salmon. the world wants more protein. in making this acquisition and keeping in line with the holding companies overall values, what is the problem that you are attempting to solve here and do you see given the fact it is an emerging sector as an area of strategic interest moving forward for novo holdings?

>> so, novo holdings is the investment arm of the foundation. that is the world's largest charity. they have a purely philanthropy holding. our main job is generate attractive returns. those are all financial investments. we don't think about it as a strategic acquisition we will hold forever and integrate some way. we feel it is a good financial opportunity in a space we know well. of course, it is great it lines up with our esg mission. >> so, johan, can i ask with future investment decisions, walk me through some of the trends and some trends you expect to see in the pharma and life sciences sector.

>> absolutely. life sciences is at the core of what we do. we have a $30 billion overall portfolio of which about half is life sciences direct investments. within that, we really focus on the sub sectors that we go very deep in. we have dedicated professionals and advisers and portfolio companies. that ecosystem is valuable. that includes pharma services and diagnostics and med tech and other sectors. we see opportunities in all of those. it is a tricky global environment at the moment and there's a lot of geopolitical noise in the background. we're long-term investors. we're focused on growth and management teams. we can look through some of that short-term turmoil and really focus on companies that -- that we know in industries where we

feel we have an investment edge. >> just on the short-term turmoil that you speak of johan, can you elaborate that for me? what is the biggest risk deploying capital in the sector you are also focused on? >> sure. a couple of things. one is the whole geopolitical noise we had particularly the last few days around tariffs and deglobalization. that's a trend we've been seeing, of course, for some years. the concept of re-shoring and -- and -- and unwinding global supply chains and making those more region. we have offices in the u.s. and asia and europe. we can adapt our investments to whatever is the prevailing political environment. sometimes that might be backing companies that are serving local markets and sometimes you might -- you might back

companies with a global footprint. we can adapt given our global office network and also our long term ownership. i think another trend in life sciences specifically in the last year or two is issues with bio-tech funding. so, last couple of years, it has been harder for bio-techs to raise capital. it's starting to improve now in the last quarter or two, but there have been impacts on companies that service pharma. that is contract research and contract manufacturing organizations and companies which supply tools for research and development and also tools for production. so, there have been ups and downs in the last 18 months in those sectors and that's starting to normalize as we speak and that's where we see opportunity bringing to bear our network and ecosystem with the edge in those areas.

>> okay. okay. johan, because you mentioned debt with the geographical footprint, just doubling down, what regions do you see as the hot spots for life sciences in the next few years? is there an area of focus? you mentioned you are in the united states and you are looking closely in europe with the recent deal you just made. where else can we expect to see out performance? >> so, the u.s. will continue to be an incredibly important market for life sciences. of course, it is the center of the industry, but then europe is doing well and there's a lot of emerging competitors in asia as well. we have offices in singapore, which is the asian headquarters and shanghai and mumbai. we are in the fortunate position to pick our spots. i think there will be

opportunities across the world. it may differ across sub sector, but we are in position to invest where the opportunities arise. >> johan, i really appreciate the conversation. looking forward to staying in touch. johan, senior partner and principal investment at novo holdings. coming up on the show, shoppers give thanks for black friday sales. we're live in new york on the other side of this. stay with us.

welcome back. okay, it's not black friday until tomorrow, but the deals have been around for some time already with retailers hoping to

cash in as the holiday season kicks off. the national retail federation expects 183 americans will shop online and in store over the next five days between thanksgiving and cyber monday. courtney regan filed this report. >> reporter: the unofficial shol day shopping season begins although many have started to hold cyber deals in october and here in november. deloitte suspending the stretch between thanksgiving and cyber monday will hit a record of $650 per person. that's up 56% of total holiday budgets being spent over retails big five. interestingly, all household income groups plan to spend more than last year during the same stretch. black friday still expected to be the busiest store shopping

day of the year, but not as big as years ago in store. however, now most large retailers again are closed on thanksgiving, that started in 2020, it is pushing door busters back to friday morning and that does help lift traffic on that day. adobe analytics says 17% of total shopping will be online. that's up 7% from last year with the biggest growth percentage predicted to be on black friday and that day expected to see a nearly 11% gain of what's spent online compared to last black friday. tools and home improvement searches are up 73% the week before black friday this year compared to the week before black friday last year. electronic searches are up slightly from last. a steady category of interest for this holiday shopping week.

courtney reagan, cnbc business news. and black friday spending in the uk is expected to reach 7.1 billion pounds this year according to a new report by pwc. that is up 37% compared to 2023. the report also suggests overall interest in black friday sales has recovered this year with more than half surveyed saying they are looking to grab a bargain. let's get more on this with lisa hooker. the consumer markets leaders at pwc. joining us live from the london studio. you have seen the numbers. 7.1 billion pounds total spend for black friday. that is still lower than pre-pandemic peak. what does that tell us with the retail sector overall? >> we saw a 17% increase per

head of spending this year which takes it back to '21 and '22 levels. '23 was the outlier with the housing crisis. in terms of the health of the nation, the thing about black friday is after pay day which will help spending. it has been a subdued year. there is a catch-up spending now and the run-p to christmas. >> catch-up spending. that is interesting. what are some of the popular retail categories that dominate on black friday? where are they buying? can you break it down in terms of physical store sales? >> the main category is tech. that is driven by men spending 50% more than women. the second category is clothing. then minor christmas presents like stocking fillers and health and beauty. health and put i beauty has inc.

in europe, 70% of the spending is expected to be online rather than bricks and mortar. what is rather surprising with the shoppers going into the shops rain shops rather than online, the younger shopper s who love to g to the shops and online. >> what is interesting is not just younger shoppers, but in particular younger men. can you expand on that trend? >> it is about spending on yourself particularly for the male generation. it is the peak trading for technology. men really do prioritize buying themselves and technology. because it is more releases or newness in technology this year, there's a massive increase in the amount they expect to spend. both men and women are equally interested, but men spend 50% more. women spend about 200 pounds and men about 300 pounds.

they are doing research to see the best deals with the technology they buy. >> i was looking over the report and one of the other interesting things that stood out for me in terms of the graphics is pwc expressed the interest of black friday. this is of interest if you are a retailer. it shows retailers aren't necessarily doing enough to convert that remaining 50% how does the industry respond to this report and what do retailers need to do to actually get people back into physical stores and spending cell money? >> those over 55 are really not that interested in black friday. those under 55 and particularly the younger age group are really interested. that trend has been there for a while. number one, you really want to appeal to the younger demographics and younger customer. they are the ones who are

interested. it is a lot harder to appeal to the older graphicdemographics. what the retail trade is doing is engage with customers in terms of saying we'll give you early access to black friday or say we'll give you 25% off dresses. there is a lot more engagement they are doing to get people back in stores and online shopping. in terms of the older demographics, what they need to do is convince them it is a big deal. someone like the retailers which have gone on-site we guarantee the prices on black friday haven't been lower for the last six months. you have to really make sure they are confident there is a genuinely good deal. >> and, of course, we're talking about this in the uk context. is it fair to say a lot of the assumptions are true for wider europe? >> yes, black friday came to london ahead of europe. 80% of people are interested in

black friday across europe. they spend less because it is more immature. they are definitely catching up to the spend we see in the uk and obviously in italy and in the u.s. there is lots of interest. the only nuance across europe is it is slightly more practical gifting things like toys and children's clothing which actually are quite low down in the uk. which is different in terms of the categories. overall similar trends. >> really fascinating. lisa, looking forward to seeing how the final numbers shake up once we pass through black friday. i want to say thanks for coming on today. lisa hooker at pwc. moving on, new york is getting ready for the macy's thanksgiving day parade. jay gray is joining us live from new york. jay, walk us through what you are seeing on the ground right now. >> reporter: good morning, dan.

final preparations under way for the massive parade that will wind through manhattan. take a look behind me. 17 of the huge character balloons which are such a draw to the parade are lined up and ready to roll. including minnie mouse. this is the first time we will see minnie winding through new york city. just a few floats back. you have spiderman who is back after a ten-year absence from the parade. again, 17 character balloons and 22 floats and 11 marching bands and 700 clowns. i don't even think they're counting us in that number. it will be quite a spectacle. maybe one thing this year is rain. over the last few years, we had beautiful weather. it's not that cold, but we expect rain. it hasn't slowed down the excitement for this. we've already as early as 2:30 in the morning, seen families out and scoping out their spot along the parade route making

sure they get a front row seat. with that rain, no umbrellas allowed. a lot of ponchos and rain coats and people starting their thanksgiving here in the u.s. with a bit of rain, but it's such a tradition and such a big deal for so many to make this parade a part of their thanksgiving and in fact, over the last three years, the broadcast is the most watched broadcast on u.s. television. it should be a lot of fun. a couple of other numbers before we go, dan, as part of the parade, 300 pounds of glitter, my personal collection i brought for them and 200 pounds of confetti. it should just, again, be a lot of fun and a great way for so many to start their holiday here. >> brilliant. jay, i think you can count us among the clowns. that's completely fair. i'll let that pass. on cnbc, we like to joke about

the economic impact of these things. anecdotally, how does this translate for new york and does it typically see an economic uptick as a result of the thanksgiving day parade? >> reporter: no, that's a great question. absolutely, you've got so many people coming to the city for this parade and the official, if you will, kickoff, to the holiday season. shopping is crazy on this day and the following black friday where you have people out and doing their holiday shopping. yeah, each year we hear about how much this brings to the city. we don't have a report for this year, obviously, because it's not over. millions of dollars in revenue for retailers and vendors and those doing business as they start the holiday here. it's quite a crowd that gathers here. you will have 2 million to 2.5 million people along the parade route. a lot of those are here from out

of the area. it's something that's a driver as they start the most important part of the year for retailers here, that, of course, the holiday season. >> absolutely. jay, we'll leave it there. happy thanksgiving to you and your family. jay, we appreciate you joining us. thanks again. jay gray live for us in new york from nbc news. before we go, let's update you on europe. a broadly positive day across the markets here and we have seen our markets moving higher in france in particular. you can see up by almost 1% now on the cac 40. italy's ftse mib is better than by 1%. dax and ftse 100 advancing today. that is despite the fact we have seen, let's call it movement in the yield space. the gap with the french and german ten-year yields at the widest since the eurozone crisis in 2012 off the back of headlines coming out of france and brewing political crisis plus the debt and deficit

situation. do stay with us here on cnbc. we have more news and analysis coming your way. that is it for today's episode of "street signs." i'm dan murphy in abu dhabi. thanks for watching.

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