♪ good morning, everyone. welcome to "street signs." very happy new year to all of you. i'm silvia amaro. here are your headlines. chinese equities unhappy new year kicking off since 2016. investor attention turns to the threat of trump tariffs. china's commerce ministry

hits u.s. companies with export restrictions at trade tensions heat up with the defense sector names. the u.s. kicks off 2025 on high alert in the wake of new year's attack in new orleans that killed 15 people and hours later, the deadly explosion of a tesla cyber truck outside the trump hotel in vegas. and u.s. gas futures pop as russian gas flows via europe as ukraine refuses to a deal. good morning, everyone. we start today's show looking at the session. so far in asia, chinese equities reported the worst start to the year since 2016. let me show you some of these moves. you have them on the screen at

this stage. the hang seng down more than 2%. looking at other indices in china, we had the csi 300, the most important one to look at at the moment, down almost 3%. there are different reasons behind this. i also want to take you to the yuan and what we have seen in the yield space before we dive into the details here. to give you an idea, we also saw pressure on the currency space. at the moment, we don't have that reading at the moment. nonetheless, though, we have seen important moves in asia that do contrast with what we have seen so far in the equity space and equity moves in europe. one of the reasons behind this was the weak data that we obtained out of china today with the manufacturing pmi fell to 50.5 in december. remaining in expansion territory, but falling short of analyst expectations as growth in new orders slowed.

sam vadas filed this report. >> reporter: fresh manufacturing data and holding up for a third month, but at a slower pace. the smaller firms in china showed slower sales with softer appetite at home and new export orders falling in contraction. business optimism faded and factories lowered prices and absorbed costs to stay competitive. this uneasy picture was consistent with the survey which showed activity coming off last month, but still holding above the boom or bust line. in the outlook, the china beige book says pulling forward of trade before trump tariffs has ended. it says the only risk is if trump's china tariff talk is just hot air. now the data continues to cap

off a year of mixed numbers while we have seen some positive signs like in the property sector with home prices appearing to bottom out for now. the uneven recovery continues to build the case for more stimulus. markets are now laser focused on china's annual meeting of parliament in march for more details on fiscal spending. now, today, chinese stocks kicked off the new year on weaker note. bond yields continued to test new record lows and the yuan hovered near the 7.3 level against the dollar. in singapore, sam vadas, cnbc business news. china added ten u.s. firms to the list in arms sales to taiwan. the firms are banned from making investments from china. the head of equities is joining

us today. i have to start with what we have seen so far in asian equities today thinking about the performance for china and a lot of pressure. do you think what we witnessed today is setting the tone for the reminder of the year in terms of performance for chinese equities? >> they rallied a lot in october and have consolidated since then. people are waiting for fiscal stimulus to come through. it is disappointing thus far. i expect that to continue. today, .4% is bearish for equities. last quarter was good after the fiscal expectation. i think there is more disappointment to come. >> investors kept getting disappointed with the fact there was no actual concrete detail about potential fiscal stimulus. how is that likely to drive the narrative also in 2025? we have their big meeting

happening in march. it's perhaps that time we could see upside for chinese next, actually. >> i like that point about the big meeting in march because it is always seems to be some big meeting in the future in which the announcement will come. the reality has been a series of disappointments. i expect march to be disappointing as well and ultimately the problem is too big. the real estate continuing real estate crisis is just too big. they are just managing the decline. what they are ultimately doing is supply side economics. building out auto industry and semi industry and causing a blow blowback to europe to too much auto industry supply and car imports and weakening consumer in china which is impacting the luxury businesses and others as well. so, global economic activity slowdown with china being a big part of it. >> what do you think about this is the one that investors are

thinking about today -- donald trump arriving in the white house in less than 20 days now. what do you think will be the main driver for chinese equities in the new year? is that the fiscal stimulus story or is that actually potential tariffs from the united states? which one could have the biggest impact here? >> well, the fiscal has already been priced from. it is certainly disappointment on the fiscal stimulus will also have an impact. tariffs is uncertain whether trump will into it as a negotiating tool or actually put them on regardless. we see it is becoming apparent some form of tariffs will go and on enhance chinese activity. we think tariffs are coming. whether it will come to europe or not is uncertain. certainly on china there is bipartisan upport in the u.s. to put tariffs on chinese imports. >> give us your thoughts on the u.s. dollar.

looking at the performance for 2024, the greenback up 7% or so. is this likely continuing to be a key narrative in the new year as we just started 2025 and how will that impact ing markets? >> you think it is strong. if you think about the narrative, which is chinese economy will continue to slow and we'll have a blowback on asia, but certainly in japan and europe as well, that should lead to dovish from ecb. meanwhile, the u.s. economy is insular to china. u.s. core pce and activity has been strong which has brought a monetary hawkish response from the fed two weeks ago to the combination of the hawkish fed and dovish ecb clearly points to a stronger dollar and that should continue. i will say euro down to parity

down to one will be the next step. >> i do want to talk ecb, but i'll leave that for a little bit later. in terms of oil prices, we see them moving slightly higher today. 2024 was not a strong year for oil prices. what do you think 2025 will have on hold? >> clearly, if you think about china trying to pivot its transport sector into evs, 50% of all new cars sold are evs. china is the largest oil importer in the world. 60% of the oil demand came from china. 6 out of 10. if china is pivoting into evs and producing that energy domestically in home, they will go an oil oversupply and demand will be weak. it is not already in peak oil demand in china. so, global activity is slowing. the largest oil importer not needing oil. we are clearly moving to an oil

oversupply balance. the recent news is probably pertaining to finland grabbing a tanker off the coast between finland and estonia which was a dark fleet russian tanker. there is some if nato tries to block some of the balance coming out of russian exports. at the moment, yeah, we think oil is going to be an oversupply and activity slowing. >> right. we have plenty to talk about. stay with us. speaking of energy, coming up on the show, russian gas flowing via ukraine stop as the decades long agreement ends. we'll have the latest after this break.

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welcome back to the show.

now, law enforcement officials have told nbc the fbi is investigating whether the explosion of the tesla cyber truck outside a trump hotel outside vegas on wednesday was an act of terrorism after the person inside was pulled and several others injured. officials are looking into the possible military connection between the person in the cyber truck and the suspect in the new orleans terror attack that killed at least 15 people. nbc's morgan chesky filed this report. >> reporter: that's right. three law enforcement briefed on this matter say it is now being investigated as a potential act of terrorism. all of this happening amid growing evidence that this deadly fire was not an accident. growing questions tonight into the tesla cyber truck turned inferno just feet away from the trump international hotel. the stunning scene on the vegas

strip now the focus of a federal investigation. law enforcement officials confirming the cyber truck was rented from the same company as the vehicle used in the new orleans attack. >> we are looking for secondary devices. we're taking it slow and we will make sure we remain safe in our community. >> reporter: the blaze called in at 8:40 this morning appeared to erupt in seconds. witnesses describe a loud noise followed by a smokey scene. >> we saw a lot of smoke. >> reporter: inside the vehicle, fire crews discovered an unidentified body. the burst of flames wounding several bystanders before fully contained. tesla founder elon musk saying the tesla senior team is investigating this matter right now. adding we've never seen anything like this. retired atf agent says video evidence may be telling in the investigation. >> you can see multiple large flashes and you also hear

whistling sounds in that video. those whistling sounds are consistent with the sort of fireworks you could buy as a consumer and setoff. >> reporter: tonight, the trump organization thanking law enforcement for the swift response as federal officials dig in. morgan chesky, nbc news. >> and elon musk took to x to confirm the explosion was caused by very large fireworks and/or a bomb carried in the truck's bed. this in the aftermath with the attack on new orleans with the man armed with a isis flag rammed the streets and killed 15 people. the president calling it a despicable act. >> the fbi is leading it's

investigation to determine what happened and why it happened and whether there is any continuing threat to public safety. here's what we know so far. the fbi has reported to me the killer was an american citizen, born in texas, he served in the united states army and active duty for many years. he served in the army reserve until a few years ago. the fbi also reported to me that mere hours before the attack, he posted videos on social media indicating that he was inspired by isis, especially the desire to kill, desire to kill. the isis flag was found in his vehicle which he rented to conduct this attack. possible explosive devices were found in the vehicle as well. more explosives were found nearby. the situation is very fluid. the investigation is at the preliminary stage. it is the first day of trade in europe.

let's get a check of european bourses so far today. here we are. we are a little bit mixed at the moment. we were a little bit higher at the start of the trading day. however, it seems the sentiment has changed slightly. we have just the xtra dax in germany modestly positive. we have the cac 40 .50%. the ftse mib is down .50%. let's sigh how things move through the day. a bit of a change in sentiment so far in early deals. i want to take you to how u.s. markets moved across 2024 to give you context as we prepare for the start of the trading day on wall street. it was a stellar performance across the board. i would highlight the s&p 500 up more than 24% in 2024. let me show you the performance actually over the last two years. if you think about the s&p 500 in 2023 and 2024, we actually

saw the biggest jump since 1998. it was a strong, strong year for the s&p 500 off the back of the performance of big tech, of course, and the a.i. narrative, no doubt. in terms of how markets have moved, let's get a check of the space, too. worth keeping in mind today we get initial jobless claims to help us figure out what is the sentiment within bond markets. this at the time when this week so far has actually been quite thin. not perhaps the best week to understand how investors are feeling going into this new year. thinking about the currency space,s this is how we have been moving as well. all in all, the main market narrative for 2024 when it came to fx was no doubt the strength of the u.s. dollar. that has continued today. let me take you to the euro/dollar. we are just marginally higher against the greenback.

sterling down .20% against u.s. dollar. u.s. futures is how we shaping up ahead of the open on wall street. it could be a positive start to the trading day over there. let's see what will happen. we will get jobless claims and latest manufacturing pmi figures. let's see what will be the tone within the investment community stateside after the mixed sentiment in europe. let's return to our conversation with fawaz. i would like to get your thoughts on the performance for u.s. markets. last year, no doubt, were incredible time for the s&p 500 and in particular, but when you think about 2025, do you think this performance is about to come to an end? >> i'm really cautious. we discussed that before. the reason for that is valuations are stretched and at same time the federal policy and

monetary policy is turning hawkish which was revealed a couple of weeks ago. ten-year is above 4.5. in the face of high rates, high real rates and stretched valuations, portends challenges on earnings growth. >> what about the big tech because when you think about how important they have been and when you think about ultimately rates are coming down, they are not coming down significantly and not coming down at the rate that many people thought at the start of 2024, but still expected to come down, what is the outlook here for the big tech? what do you think is actually the event that could change the narrative for big tech given that you are a little bit bearish here? >> so november 2022 is when chatgpt was released and the rally was driven by an a.i. driven rally.

the big cap tech benefitted most from it in terms of sentiment and in terms of nvidia actual earnings and free cash flows. now going forward, the multiples have inflated on the back of the a.i. rally. now the real rate shy.is high. you say rates are coming down. what we have actually done is priced out cuts. relative to expectation, the rates have gone up. the ten-year has gone up and we priced out a lot of cuts in 2025. the real rates have gone up while valuations have gotten stretched. the thing that will break or cause concern is if earnings revisions will become negative with the huge cap ex coming. the depreciation bill is coming and it will not be met with sufficient revenues. that will lead to growth earnings challenges. microsoft earnings have been

revised down for the last six months. in fact, microsoft under performed significantly last year. that is the largest a.i. spender. that's possibly a cause of concern for other a.i. spenders as well. the multiples are high, earnings revisions are negative and real rates are high. not a good combination. >> overall, you are cautious of global equities, yet you are head of equities. i have to ask you where's the performance going to come from in 2025? any part of the market you highlight as a potential gainer for the year? >> you have to go stock specific and i'd yoe diosyncratic story. you would have to say i'm cautious on global equities. with that said, i think like japan is probably still cheap.

the yen depression has continued. there is still fx to come. three years ago, yen was 110. despite the china slowdown, it would benefit from fx base. i still like topix. overall, it has pulled back a lot and i discussed with him before. i think the pullback from semi has been done. >> i would actually like to dig deeper on novo nordisk. >> sure. >> tell us your thoughts on the company for this new year because you highlighted the recent pressure we have seen for the stock you think is short lived. ultimately, the big expansion and gain for novo nordisk was back in the day when they actually announced the first progress with glp-1 drugs.

is this now being capped? >> the concern is lily will take share. the glp-1 was disappointing. eli lilly was up 5%. the concern around not concern with obesity market. it is novo nordisk will lose share to eli lilly and their drug is not as good as zepbound is the marketing name. i disagree with that. i think generally speaking, it will still remain a duopoly. one in eight american adults is on glp-1 drugs. we expect that to continue. with that view to continue the glp-1 market is healthy and still a duopoly. the idea of losing share to eli lilly is overton. the valuation is low with the

huge penetration growth story in america in particular and health insurance in europe will start covering this as well. super exciting. >> i guess they are trying to see if there are any other areas to advance via the glp-1 drugs. thank you for your time. the head of equities at fulcrum asset management. meanwhile, russian gas ex-ex- s to europe via ukraine have stopped. marking an end to the decades long agreement. let's get a check of ttf prices have moved so far. we are trading at just -- let me check. almost .50% lower at the moment. indeed, this moves we have seen today have somewhat been controlled in the fact that we were already expecting this

agreement to come to an end. so, no surprise there, however, the important development to keep in mind. let's also get a check of european energy terms firms ande have moved there. bp and totalenergies and engie moving higher on the first trading day in 2025. an important development from a political point of view with countries in the eu, in particular, slovakia upset at the fact that kyiv did not renew this agreement with russia. elsewhere, poor harvest caused by extreme weather pushed soft commodities to record prices last year out performing the likes of oil and metals. cnbc's pippa stevens has the story. >> reporter: when you think about commodities, cocoa, coffee and orange juice are not the first things to come to mind. they were the top three in 2024

by a long shot. cocoa more than doubled and registered of the best year on record. coffee is around an all-time high. orange juice posted its best year since 2009. cocoa and coffee both require specific growing conditions and crops have been hit hard by extreme weather. unless there's a big improvement in cocoa supply from ghana and ivory coast, there will be a big issue and the market is just now realizing. when it comes to coffee, brazil is on the cusp of the fifth consecutive poor crop thanks to climate change. brazil is impacting orange juice. ompanies are managing smaller chocolate bars and trading down coffee. these structure issues not be

fixed by adding more supply. there has to be a demand side response. with prices elevated across the board, that hasn't happened yet which means we could see even higher prices on the horizon. for cnbc business news, i'm pippa stevens. coming up on the show, social media election or not. we'll be looking at the latest from germany as the chancellor urging voters not to let the upcoming elections be decided by social media channel owners. we'll have more after this break.

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whether you need to lose 10, 20, 50, or over 100 pounds, make the healthy choice with golo. head to golo.com that's g-o-l-o.com welcome to "street signs." i'm silvia amaro and here are your headlines. chinese equities have an unhappy new year notching the worst kickoff since 2016 as factory

surprises to the downside and the attention turns to trump tariffs. and the china commerce ministry hits u.s. companies with export restrictions as trade tensions heat up targeting major defense ector names. the u.s. kicks off 2025 on high alert with the attack in new orleans that killed 15 people and just hours later, the deadly explosion of the tesla cyber truck outside the trump hotel in las vegas. the russian gas flows to europe via ukraine ends the agreement ending the russian dominance over the energy market. it is the first trading day of 2025. let's get a check of european bourses and how we have moved so far today.

european equities have been trading for just over an hour and a half thus far. indeed, thus far, we have a mixed picture. at the moment, we are seeing down side in france with the cac 40 down .6%. the ftse mib down .4%. indeed, however, earlier today, we actually had a bit of green for european bourses, but that seems to be dissipating at this stage after weak manufacturing data that was not really surprising, really, but nonetheless, investors still tracking those developments on top of that uk house prices came in higher today. we'll have more on that later in the show. when you think about the overall picture for the geopolitics as well, investors anticipating the arrival of donald trump in a couple of days of the white house could mean for european

companies, too. speaking of the u.s., let's get a check of the u.s. futures and how we are likely to open later on today. worth keeping in mind, though, we know 2024 was very strong for u.s. equities, but one of the main questions for this new year is whether that's going to continue. at the moment, u.s. futures point to a positive start on wall street. however, when you think about what could happen today, investors will be looking at initial jobless claims and manufacturing pmi as well as construction spending figures. so far, we are keeping an eye on uk house s according to nationwide up 4%. that is a full percentage point than expected. prices rose 0.7% on the month easing from november's pace, but still well above the 0 .1%

expected. on the screen, you have the moves across the screen in the real estate market. british and berkeley. elsewhere, swiss com has revised down the year. it says costs up to 200 million euro will be recognized in the 2024 results and now expecting an ebitda of 4.4 billion swiss francs. and adidas could hold the deal with manchester united if the club is relegated from the premier league according to a report in the telegraph. the club's agreement with adidas says the brand can have its payments in the event of relegation and terminate it with a year's notice.

at the moment, you have the shares on the screen moving lower about 1% down at the moment. equity investors won't get both high growth stateside and plenty of cuts from the fed in 2025. that is according to sydbank nd the head of equity research at sydbank is joining us. good year to you. i would like to pick up the conversation on the point you made around this time last year. at the time, you said investors were way too optimistic about 2024. hey, looking at u.s. equities across 2024, what a stellar year it was. where did you get things wrong? >> i think 2024 24 turned out e a magnificent year. if we look at expectations, there were expectations of six

to seven rate cuts from the fed and earnings expectations for what companies are delivering. this is more a question of what investors are willing to pay for earnings. it is actually a question of how the fundamentals have developed. i have been very surprised through 2024 of how much investors are willing to pay. the pricing has gone up quite a bit. that, to me, has been the biggest surprise. >> interesting. so, ultimately how is that shaping your thoughts for 2025? is the out performance of u.s. market likely to continue? have we reached the peak? guide us through that. >> i think stocks will out perform. i think for investors globally, i think they will have to turn their heads to watch trump. i think this will be a year of trump, trump, trump. his politics and his communication will be headline

for the stock returns. looking back at his first four years back in 2017 to '21 in the white house, i got the impression that he measured his success by the s&p 500. so, i think we have an advantage for u.s. stocks going into 2025. it remains to see how much a hardliner donald trump will be considering europe and considering china and that, of course, will be a magnificent headwind or perhaps, not as much a headwind for equity returns in these gions. >> if we put politics aside for a moment and donald trump, what is the corporate outlook for 2025? guide us through the expectations for the year. >> i think they are still too

high compared to what companies will be able to deliver, but not way too high and i think that has been my, at least a problem with stocks for the past one and a half years. i think that earnings projections have been way too high. they are probably also too high now, but not by much. so, i don't think that we'll have a huge part of headwind coming from earnings downgrades. when we come into 2025, i think we will still have more disappointments than we are used to. i think that companies will get through in an okay manner. but growth is not like we have seen historical. we still see low growth. u.s. by far is the best place to be compared to europe. remember, even though we've had

2024 with somewhat of an earnings ill and 2023 with earnings drag and earnings being down in europe, we still have pricing of european equities higher than historic level. i think europe looks vulnerable, more vulnerable than the u.s. side. i think investors will struggle to find the pockets with high growth and u.s. delivers, especially the u.s. tech, deliver high growth. i think u.s. stocks are in for a better year than especially europe. >> take us through the thoughts for european stocks. if investors were, perhaps, trying to be less exposed to the volatility that we could see stateside with the arrival of donald trump in the white house, perhaps there is other global spaces they could be invested. think about what the outlook is

for european equities. guide us through why do you think this could actually be another european growth for equities? >> first of all, we have a muted growth situation for europe. we have zero growth or close to zero, at east, if you look at pmis, not much indicated it is about to be better in the near future. we have growth and probably earnings at a standstill or somewhere in the ballpark region moving into 2025. we have a lot of issues on the politics in europe. we have german and we have a political issues in francis well. we have the war in ukraine that politicians need to address. they don't know how much backing they have from the u.s. with trump entering the white house. a lot of investment in europe into defense and into energy is

necessary and especially the investments into defense will probably not be that productive. so, earnings pros prospects fo european companies are muted for 2025. >> it is just the start of the year. we will see. we appreciate your time. head of equity research at sydbank. meanwhile, hungary is set to lose 1 billion euro after the dispute over the rule of law with brussels. this is after the eu pressured hungary for reforms in 2024 in the bid to tackle corruption and improve transparency. the dispute led brussels to freeze 19 billion euro of support, including post-pandemic recovery funds. budapest says it will take

action to fix the discriminatory situation. and zelenskyy said drones were shot down overnight. volodymyr zelenskyy stressed the need for unity for kyiv in his new year's address. [ speaking global language ] >> translator: i know the people are with us, with ukraine, with the ukrainians on the side of truth. the authorities of these countries should also acknowledge the truth. there is no need to be afraid of ukraine being in europe. we must prevent everything from russia of being in europe. its tanks and missiles and evil. if russia shakes your hand today, it does not mean tomorrow it will not start killing you with the same hand because russia is afraid of the free people and what they are not familiar with. they were born under putin and went to school under putin and joined the army under putin and

dying for his sick ideas. that is why it is crucial to he defend all people who defend freedom. olof scholz urged people not to be influenced by social media. scholz said the only german citizens have the power to decide where the country goes from here. scholz's comments come after his spokesperson accused elon musk of attempting to influence the february election following his endorsement of the german far-right party afd on x. annette is joining us with more. happy ew year. i would like to understand how unusual this actually is for german politics having a ceo of an american company actually making comments about the upcoming election. >> reporter: it's very unusual and i think the most unusual is

this ceo is actually advocating the afd, alternative for germany, of course, the populist right-wing party in the country, is endorsed by elon musk. i guess this is the most unusual thing. that is also created that uproar or public uproar in the country. i guess it is a first that someone outside of country, a ceo, published an op-ed in the newspaper endorsing the populist afd as the only way forward for the country. scholz has actually alluded to that op-ed and the fact there was this endorsement by elon musk in his new year's reception tells us the story that they are very afraid of the afd. they could come in second at the national election ahead of the spd.

that is why scholz is addressing the public, the electorate saying we need to stand together to get the country back into a successful trajectory. take a listen to what he said during his new year's speech. >> translator: if there's one country that has learned cohesion can change things for the better, cohesion can bring down walls, it's us here in germany. it makes clear what the future holds for germany. you, the citizens decide that. it is not the owners of social media. >> reporter: essentially, the election campaign really is going to start as soon as next week. the spd will hold its convention on january 11th and 12th. that could count as the official start of the campaign. so far, most of germany is still on holiday and part of germany,

even still on holiday until the 12th of january. it's like a transitionary spacey right now. one thing is clear. the afd and the other populist party could gain more than one-third of the votes and they would mean they have a blocking my majority in parliament. >> busy times ahead, no doubt, annette. from germany to france, emmanuel macron said his decision for snap elections in june created more divisions than solutions. macron addressed the nation in the annual new year's eve speech a week after the polls show his popularity has fallen to the lowest level since taking office in 2017. in his address, macron took responsibility for the fallout. >> translator: we are faced political instability which isn't specific to france. we are also seeing it among our german friends who just

dissolved their assembly. it legitimately worries us. i must admit it has ught more divisions. if i decide to dissolve, it is to give you back the floor and regain clarity and avoid the inability that was threatening us. we recognize right now that this decision has produced more instability than calm. i take full responsibility for that. coming up on the show, authorities investigate in new orleans in the terror attack and fbi says they are looking for a connection between the incident and the man who blew himself up in las vegas. we'll bring the latest after this break.

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welcome back to the show. now as the inauguration of president-elect trump approaches, businesses are considering how they can best prepare for the round of tariffs. steve kovach has more. >> reporter: two things on the top of the apple ceo tim cook's agenda. china, specifically getting apple intelligence off the ground there. let's start with tariffs. trump coming into office in a few weeks promising blanket tariffs up to 60% on goods from china. that hit apple hardest. most iphones are made in china. now to dodge tariffs in the first term, he developed a cozy relationship with trump as his peers took more antagonistic stances. in 2016, cook gave trump a tour

of the factory, but trump was shown a new model of the . the following month, apple got relief from tariffs on imports from china. now ahead of trump taking office again, he said cook came to dine with him t mar-a-lago a few weeks ago. no mention from apple or trump on what that means for potential tariffs. early in the year, keep an eye out from apple related to job creation or manufacturing in the united states. next up, china. still competition from huawei and the hardware front, but beyond that, apple needs to get the government to approve apple intelligence. i asked tim cook about the trip to china, he says talks continue. apple needs apple intelligence

for chinese consumers. for cnbc business news, i'm steve kovach. returning to one of our top stories. investigations are continuing in new orleans after an army veteran flying an isis flag from his truck rammed into the new year's revelers killing 15 people and injuring around 30. jay gray joins us now from new orleans. jay, just give us the latest. >> reporter: yeah, silvia, as you can see, this area is still locked down. an early hour in the early morning here, you would normally see revelers still coming out of the french quarter kind of lingering along the streets on canal. you don't see that at all. in fact, there is an eerie silence in the city right now. a tension here.

so many, like investigators, searching for answers. the suspect in the case, shamsud din jabbar, 42 years old with army service commitment. he left as a staff sergeant. we know investigators have centered the investigation in the french quarter where they continue to search for evidence, but also jabbar's home in houston and an airbnb rental in new orleans. it was the scene of the overnight fire yesterday and now investigators saying it may have something to do with building explosive devices that jabbar along with ssociates may have been building before the attack. it is just 24 hours since that truck plowed into the crowd on bourbon street and jabbar, according to police, jumped out of the vehicle and opened fire on officers and they returned fire killing him.

there have been no further arrests, though investigators and agents say they are exploring the idea others may have been involved in this attack. >> jay, we appreciate you brought us the latest. meanwhile, as we approach the end of the show, here are the four things to get you up to speed ahead of the open on wall street. u.s. markets kickoff a new year of trade after a very strong 2024. on the data front stateside. we get manufacturing pmi along with initial jobless claims as well. we also get u.s. restrictions on outbound investment on semiconductor and artificial intelligence coming into effect today. we are watching u.s. defense names as well after chinese commerce ministry black listed ten firms over armed sales to taiwan. a final check for european markets on this first trading

day of 2025. the stoxx 600 gained 6% in 2024. today, however, we are looking at a mixed session for european bourses so far. thinking about the ftse 100 and the xtra dax, we are marginally positive. positive. thinking about the cac 40, we are down .9%. the ftse mib n italy is down .50%. different fortunes. we will see what happens throughout the day. worth keeping in mind it is just a return to the trading today and tomorrow. so, perhaps, thinner volumes overall. we have the swiss market, for instance, closed in europe today. let's see what will continue to happen and how will the market unfold in the next two days. indeed, it is a start of a new trading year. let's see what will have in store after what was a modestly

higher for european bourses. i would actually highlight the performance of the dax. up almost 20% on the year. now in terms of what we have heard so far today, uk house builders are moving lower today after higher house prices came in. data shows house prices. let's see what will happen here as well. a final look as well on u.s. futures. we'll get initial jobless claims, manufacturing pmi and construction spending. futures suggest it could be a positive start to the trading day. perhaps marking a little bit of a change from what we have seen in europe. we'll find out later today. that is it for today's show. i'm silvia amaro. "worldwide exchange" is coming up next.

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it's 5:00 a.m. here at cnbc global headquarters. welcome to "worldwide exchange." here's your "five@5." kicking off a new year in the green. futures are higher with cks coming off the fifth positive day in six. and terror in new orleans. police investigate a truck attack that killed 15 people and many hurt. and police are looking for a possible connection to the explosion at trump hotel in vegas. and later, a look at