i'm arabile gumede and these are your headlines.quities taking a drop and the euro see-saws as the data from germany and france upstages better abthan expected gdp grow in spain. and mi >>> and microsoft and activision deal is closer to conclusion. >>> the bank of japan is issuing a dovish outlook as inflation comes in higher for the 17th straight month. >>> union bosses and automakers are stuck in talks with the unions promising expanded price action unless progress is made. >>> we have been continuing to take a look at the eurozone area and just how the pmi numbers have looked. the strength of the manufacturing sector which really does sit with little strength when you look at the likes of the german numbers to have come out. we are anticipating the uk flash pmi numbers. those numbers have just dropped. the uk september flash composite pmi at 46.8. that's a drop from the 48.6 that we saw in the month of august. that continues to show that rapid decline. more risks of contraction for the market overall. even in the uk as the indica

i'm arabile gumede. these are your headlines.many's 10-year bund yield spikes to the highest since june of 2011 as the business sentiment has worsened. falling for the third straight month in a row. the ifo president telling cnbc the economy is treading water. >> it seems entrenched. i don't know if this is enough to speak of the sick man of europe. other countries in europe do have problems as well, but particular german issues with energy policy and decarbonization policy. there is a lot of uncertainty in germany. >>> finding the right balance. ecb governing council member de galhau says the risk of doing too much is the same as doing too tlittle. estathe states the central bankn the right track. >> our objective is bringing inflation back to 2% by 2025. i have no doubt about our determination and commitment to achieve this target in due time. >>> italy waters down the controversial windfall tax yet again giving lenders a loop the h -- loophole if they set aside enough capital. >>> and the eu president says brussels will not cu

we have arabile gumede with the early trading day. arabile, you are wearing black. didn't tell me. the bromance is on shaky ground. >> i promise to tell you next time. it is my fault. let's get into the market action. it is not an all black day on the market. we are seeing red. cac 40 is the one we are looking at with ubisoft is moving higher in the trade which is 3% on the up with the microsoft and activision deal. cma in the uk saying there is an opening door with the restructured deal. it is helping to push things along. the ftse 100 is on the up. that is on the back of mining moving higher. so to on the retail front with ocado pulling up gains. the market is sitting in negative territory after the central bank frenzy yesterday. very interesting to note on that number that the bank of japan decided to keep rates on hold today. the governor saying that we want to see inflation at the 2% mark before we move again. very interesting notion there. overall, europe is downbeat. >> arabile, thank you very much. arabile gumede live in the london newsroom. >>> we turn atte

arabile gumede is live in the london newsroom with the action. g. >> good morning, frank. the last trading week of september. how do we start? in the red out in europe. the ftse 100 is .75% lower. it is the better of the indices out of europe. set to close out the month on a positive note. the ftse mib is interesting. the italian market with the government reversing the banking windfall tax. they decided to reverse it a bit by saying if the banks are able to maintain more credit in the banks, they he don't have to pa the windfall tax. reversal from the surprising move they put in the market around a month ago. the overall market picture is sitting in negative territory. we saw german data come out today. ifo business climate numbers showing things worsening again in germany. recessionary territory maintaining the stance. dax going down .80%. in asia, we had the bank of japan last week deciding that they were going to keep interest rates as they were at that time. that has influenced things. nikkei is up. .80%. >> arabile, thank you very much. arab

dp arabile gumede is in the london newsroom with the action in europe. >> good morning, dom. what we are seeing is the down day across europe. it does follow on from the economic data you pointed to with eurozone business activity dropping by the steepest level in three years for the month of august. if you take away the pandemic, it is the steepest contraction since 2013. that pmi coming in at 46.7. the composite figure against the 47 figure we had seen and had preliminary reading of. a down day across with the cac 40 and french market with the worst loser. it is a good day for novo nordisk. they are the biggest company in europe then empopowering past t lvmh with the wegovy release today in europe. ov over on to asia, we have interesting pmi for august at 51.8. the chinese services sector seeing the slowest expansion since december of 2002. nikkei gaining .13%. weak data with the bank of australia holding rates for the third month in a row. >> arabile gumede, thank you very much. let's talk more about this with bill stone. chief investment officer at glenview trust. bill, t

all across has been red today, frank. >> arabile gumede live in our london newsroom. thank you. >>> focuses on geopolitics. leaders are descending on india for the g20 summit in new delhi. narendra modi is scheduled to meet with president biden today for bilateral talks. let's get to tambir with the latest from new delhi. >> reporter: thank you, frank. yes, the g20 summit kicks off in india tomorrow. president biden will meet narendra modi for the first meeting at this event. the areas of cooperation are energy and trade and defense. you have to remember this is the third meeting with the two leaders in the last five months which signals the growing friendship and fondness for one another. in the wake of president xi's absence, president biden declined to meet his representative which is the chinese premier. president xi seems to be prioritizing domestic challenges. he has been seen visiting the northeastern part of the country that has been hit by heavy floods to appeal to the domestic base. janet yellen has had comments and doesn't see this as an impact on the econo

it's time now for business, and for that let's bring in cnbc's arabile gumede who joins us live from , good to see you. the dow it had its worst day since march yesterday, but stock futures appear to be on the rebound this morning. give us a sense what happened yesterday and what can we expect today. >> yeah, so it was a little bit of an anomaly, right? the markets have generally been seen one of those weaker months for the stock market as well, so that clearly played into the sentiments there. it really is a week where we're looking towards the pce data, which is the federal reserve's preferred inflation number and they do look at that, and that data point is one that will be quite significant. a 3.9% expectation is in place as above -- as below the 4.2% figure we saw previously, so it does bode well for that number as opposed today you've seen the market perhaps push on saying it was a little oversold yesterday, but indeed a really, really red harrowing day yesterday. >> we'll watch what the morning brings. yesterday morning phones everywhere blew up push alert after push alert afte

. >>> time now for business, and for that let's bring in cnbc's arabile gumede who joins us live fromaiting for this. the federal reserve is kicking off its two-day policy meeting today. what should we expect? >> yeah, so that kick off is going to be quite interesting because it's actually more about the detail than it is about the actual decision. there's about a 99% chance that has been put forward that the fed will keep rates on hold. an unchanged stance is what we're anticipating from tomorrow's outcome which kicks off today. there has been a slight loosening of the labor market as well, but overall there's a clearer sense that perhaps things are beginning to weaken on the back of those consist, the interest rate hikes we've seen for the last number of months. there has been at least ten consecutive interest rate hikes at some stage and then there was a pause, of course another 25 basis point hike. the anticipation there will be another hike in november. there's a 70% chance of that happening. i suspect the market will be looking for more hints from jerome powell whether they'll h

learn more at boost.com/tv >>> time now for business, and for that let's bring in cnbc's arabile gumedele, good morning. investors looking ahead to another busy day of economic data as well as some earnings reports. how's the market shaping up in the morning's first hours? >> yeah, so pretty much we're looking at a down day particularly across europe thus far. right, you take a look at that and that's really bound to be the oil story coming out of saudi arabia as well as russia that we'll unpack a little bit later. there's a bit of interest of that out in asia and the market is fair bit mixed then when one looks what's happening there, property stocks making headlines there. we'll unpack that one. it does look like the u.s. will fall back and won't necessarily see too much by way of gains because of all that news flow. we do have quite a few fed speakers actually today, so they may have something to say with the way the markets are looking out. for now, though we are fairly negative across inboard and that's the anticipation for most of the day. >> oil prices, major headline here they j

. >>> time now for business, and for that let's bring in cnbc's arabile gumede who joins us live frombile, good to see you. the s&p 500 climbed slightly yesterday, but stock futures continued to fall overnight. we just showed all the red on the board. what's the outlook on wall street this morning? >> yeah, so, good morning, jonathan. it actually doesn't look really good. you had that slight positive tilt yesterday. today rather we are seeing that negative move. september and even october in some parts are known as the bad killer months really because prices were soaring around the 1929 and 1927 crashes. all of those have had some sort of impact on how people view these months. relatively overall we're seeing, for example, nasdaq is down more than 5% in the month of september thus far. the s&p 500 has lost about 3.8%. the dow jones industrial has lost more than 2%. so big, big losses being seen across this month all on the basis of the market perhaps having run too hard. a little bit of down time as we head towards christmas where people will perhaps be positioning themselves just sli

. >>> time now for business, and for that let's bring in cnbc's arabile gumede. rom london. arabile, good morning. with earnings season winding down, wall street is shifting focus back to the federal reserve's next move on interest rates. tell us about that and what appears to be driving the markets this morning. >> yeah, so september's usually seen as a kind of down beat time when it comes to the market, right? and that's actually what you're getting pretty much right now. you're seeing pretty much a slump as they've kicked off the month of september in a fairly negative stance there as well. yes, you're quite right focus shifting back towards the fed and what they're expected to do, a more than 90% chance the federal reserve will actually keep rates on hold at the current level right now. 5.25 being the maximum point with regard to those rates. there is the anticipation, however, at least the 60 odd percent chance they could actually move those rates then in november, so that will be very interesting to note. inflation pressures are what they'll be looking out f

and for that let's bring in cnbc's arabile gumede who jones us live from london. he markets poised to end the week with steep losses. tell us how today is shaping up. >> yeah, so it's actually looking really on the market front. it really is on back of perhaps a few fears when the comes to the budgetary concerns. of course we are seeing that there is still no agreement when it comes to the housing representatives and how exactly the defense bill being one of the key factors to install thing on that front, so we are looking at a clearer sense where things could go there. on the other front is the data point we're looking forward. yesterday we saw the jobless claims hit a low of 221,000. meaning you're still having a tight jobs market, meaning less and less people are claiming jobless benefits. so it means the jobs market is actually holding up. it may mean the fed could even hike interest rates further. they have said they are expecting one more hike, so that will certainly be in play. a cross the world we've seen a lot of central banks make movements. even the bank

for that, let's bring in cnbc's arabile gumede who joins us live from london. he green this morning as investors are awaiting the fed's next policy decision and the rhetoric that comes along with it. that's going to be important. what's your sense of what we can expect on wall street today? >> yeah, good morning, jon. so certainly it's all leading up to that, right? there might be a little nervous trading action that really kicks into gear this week. so that anticipation will be quite key to lot of investors. they'll be looking at that, asking what will the permutations be beyond this meeting. there's a 90% expectation from analysts that the fed will not increase interest rates any further and decide to employ another wait-and-see approach with a chance, then, there could be another interest rate hike perhaps in november, but the devil is in the details as it always has been. what happens in that inflation in the time period? what happens to a rise in wage growth as well as initial jobs claims numbers? all of those factors will be at play again as they normally

time now for business, and for that let's bring in cnbc's arabile gumede live from london. ring up for the latest interest rate decision and economic update from the federal reserve. we're waiting for it. what's the expectation today? >> well, john, good morning to you. the expectation here is for the fed to keep rates on hold. the devil will definitely be in the details, however, because one growth projections and cpi inflation projections and the labor market in terms of expectations. the key worry might be the energy price. we are seeing brent crude head towards $100 a barrel. wti which is headed towards $95 a barrel. that entrenched movement towards the upper spectrum closer to 100 does mean inflationary pressures will persist, so that might be a key worry for the fomc as well as fed chair jerome powell. overall this time around the expectation is for a hold on interest rates at their current level. perhaps another 60% chance they could actually hold again in november, but it does mean 40% chance they could also hike. >> well, certainly people watching fed chair powell,

. ♪ >>> time now for business, and for that let's bring in cnbc's arabile gumede who joins us live from at the moment as wall street is coming off, though, a positive monday. what's driving the markets these early hours? >> yeah, so we did see that bullish tone in the market yesterday, right? it was a positive tilt to that market picture. good morning to you, john. we saw the likes of tesla gain around 10% on the back of morgan stanley having given a bullish stance around them. supply modems, their 5g modems specifically, and then to apple which picked up their share price. apple having their iphone 15 event today as well. that will be something to really look out for. of course the big news point this week will certainly be the inflation print. that's coming out tomorrow. so cpi number coming out tomorrow. then you have ppi, producer price inflation numbers coming out thursday. those numbers will be interesting for next week's interest rate decision and the fed will decide whether they need to hike interest rates again particularly in september when perhaps the market is looking at a 9

. >>> time now for business, and for that let's bring in cnbc arabile gumede who joins us live from londonthe weakest markets for quite some time. what are you watching this holiday shortened week? >> yeah, good morning, john. it has been a while since we've spoken, right? and in that time we've kind of all things like the unemployment numbers which have come out, 3.8% that was the highest sort of figure we had seen in quite some time, in fact, so that certainly would have hurt things. in more than a year in fact was that 3.8% figure. that will be a key picture pushing onto the market picture later this week. we anticipate last week would be a weakened week for the u.s. market, right? but it actually turned out not to be. in fact we saw the 30 stock dow jones industrial at around 1.4%. the nasdaq added around 3.3% as well, ending august in what was a positive week then. although on the month it was downward. so we are anticipating some weakness for the remainder of this week with not too much really driving things along, but it is going to be about norvo nortis. >> aramco may launch the bi

. >>> time to take a look at the european markets and how they are shaping up with arabile gumede live in the london newsroom with more on the early action. arabile, good morning. >> good morning, frank. some breaking news for you this morning. eurozone gdp numbers refreshed. revised numbers for you this morning. on the breaking side at 0.1% with the revised number quarter on quarter for the eurozone. that is from the previous estimate where we saw gdp growth of 0.3% initially as the statement. on the year on year basis, that number moved to 0.5%. it was actually 0.6% initially. a tick below from 0.6% to 0.5%. both dropping off a little bit. not in recession territory yet, but worrisome for the eurozone which increased interest rates with the president of the ecb christine lagarde saying that the hike in interest rates will continue to be the case as they fight off inflation further. we also have unemployment numbers for the second quarter. 0.2% quarter on quarter. 1.3% up year on year then for the employment figure as well in the eurozone. across the market, a little bit of a mixed bo

our arabile gumede is live in the newsroom with much more on the early action. you. >> good morning to you. it's a negative down. our key focus will certainly be on the oil situation. russia and saudi arabia both agreeing to extend their oil production cuts by another three months. effectishly saudi arabia saying they're going to call 1 million barrels a day as they have since july up until the end of the year. it will be reviewed on that basis as well. oil prices have certainly surged and gone a lot higher and it's felt across european markets. you're finding household goods going down today. oil and gas sector getting a hit. so, too, basic resources. the ftse 100 houses some of the basic resources going down 0.8% of the ftse 00 so far. over on the asia market, the property sector being the key focus. you're seeing the hang seng dip off marginally. australia is down, but the nikkei and the shanghai composite are up on the back of that surge then in those property stocks. very significant. mixed trading boards across here, down across europe, frank. >> arabile,

learn more at boost.com/tv >>> time now for business, and for that let's bring in cnbc's arabile gumedelooking forward to the federal reserve meeting, and as expected they left its key interest rate unchanged, but do we get any clues as to whether the fed is done raising rates this year, and tell us briefly how the markets responded. >> yeah, good morning, john. well, we saw a negative stance to that market until actually on the back of the fed having kept interest rates unchanged but it wasn't the unchanged stance that was the key factor here, right? it was actually just the fact they hinted one more rate hike could certainly be on the way before the end of this year. and actually if you consider next year, they're looking at keeping rates higher for even longer, meaning the rate cut situation could happen a bit later in the year than initially anticipated. so it doesn't mean things aren't necessarily looking too good on the interest rate front, but inflation rate is anticipate today drop off so much so even growth could look a little better in terms of the forecast they're eptying gdp

. >>> time now for business, and for that let's bring in cnbc's arabile gumede who joins us live from weekend. the three major indexes, arabile, are on pace for weekly losses. how's wall street looking in the early morning's hours? >> yeah, unfortunately, not good morning, john. yes, certainly ed ready for the weekend. it looks like the market might as well be ready for the weekend, too. it's unfortunately getting a bit of hammering as well. across the week it really has been negative and does follow on from what is seen has been a negative month then for a lot of stock markets then particularly september being that month, right? we are, of course, anticipating fed chair jerome powell later this month to deliver a sense what he expects to do when it comes to interest rates. the current expectation is 90% of the market, anyway, believes there will be a pause on interest rate hikes, so keeping them at their current level. but, unfortunately, the likes of apple dragging things down quite significantly when it comes to the impact on this market pitch. but overall all three indices down. n