cnbc's arabile gumede joins us to tell us why. >>> and we will tell you about the dallas school bus driver who is being hailed a hero after saving a boy from choking. it's monday, october 23rd. "early today" starts right now >>> good morning, i'm phillip mena. >> and i'm frances rivera. western leaders have issued a joint statement urging israel to adhere to international humanitarian law in its war in gaza the leaders of canada, france, germany, italy, the uk and the u.s. stress that civilians need to be protected since hamas's attack on israel two weeks ago more than 4,500 people have been killed in gaza, most civilians by israeli air strikes. >> for the latest on this conflict let's go to claudio lavanga. good morning is this statement likely to influence israeli policy at all? >> reporter: phillip, frances, good morning the statement was carefully drafted by the leaders of those countries to show that they still support israel and its right to defend itself and to retaliate against hamas but at the same time now they are calling for israel to respect international humanitarian law espe

i'm arabile gumede. stay tuned. halloween, trick or treat yourself to the blendjet 2 portable blender... it's to die for. blendjet 2 gives you monstrous power for a delicious smoothie, shake, or frappé anytime, anywhere. cleaning blendjet 2 is scary easy. just blend water with a drop of soap. recharge quickly with any usb port. boo-gie on over to blendjet.com and order yours today. the power goes out and we still have wifi to do our homework. and that's a good thing? great in my book! who are you? no power? no problem. introducing storm-ready wifi. now you can stay reliably connected through power outages with unlimited cellular data and up to 4 hours of battery back-up to keep you online. only from xfinity. home of the xfinity 10g network. >>> it is 5:00 a.m. here at cnbc global headquarters. here is the "five@5." breaking news. uk regulators give the green light to microsoft's $69 billion deal for activision-blizzard. >>> also a developing story in washington as well as steve scalise says he is no longer intereste

i'm arabile gumede. joumanna bercetche is in marrakech at the world bank meetings.hese are your headlines. >>> markets track into the green as investors continue hopes on the end of the hiking cycle. the central bank won't need to raise rates further if inflation pans out as expected. >> it is forcing our projections of 2%. >> we'll have more coverage from marrakech this hour with economy minister paolo gentiloni and nadia catalino. >>> and one and done. minutes the september meeting show officials dealing with an uncertain path ahead. the system is resilient. >> the u.s. economy continues to surprise on the upside. surprise all of us. i think there is an expectation that policy rates and interest rates will start to have real negative impact next year. >>> and the uk economy grows 0.2% in the month of august while the previous month's print is revised lower as the manufacturing and construction sector contracts. >>> u.s. secretary of state antony blinken arrives in tel aviv and peaces together plans for the military response against hamas. >>> this market picture h

arabile gumede in the london newsroom. >>> we turn to the developing story. the war with israel and hamas now in its sixth day. prime minister benjamin netanyahu forming an emergency war time government to oversee the response to hamas and possible ground assault. the number of americans currently held hostage or killed in the fighting could rise in the days ahead. also this morning, secretary of state antony blinken is in tel aviv and will speak with benjamin netanyahu today. we have kelly cobiella with more on the story. kelly, over to you. >> reporter: good morning, frank. israeli fighter jets targeted 450 sites insiside gaza there. a pounding there as they went after hamas elite forces according to the idf. they hit command centers used by operatives who took part in the attack on israel. they say they also hit a senior hamas naval operative overnight. israeli defense forces spokesperson saying the strikes were going to continue and they were going to intensify and scenes from gaza will be difficult to understand and cope with over the days moving forward

cnbc's arabile gumede, have a good weekend.hrough some of the heightened security measures being put in place across the country today in response to terrorist threats spreading online. we'll also be joined by democratic congressman greg lanceman of ohio. he visited israel before the hamas attack and spent time in a community where some of the deadliest acts of terrorism occurred. we'll be right back with that. o occurred we'll be right back with that. ma, ma, ma— ( clears throat ) for fast sore throat relief, try vicks vapocool drops. with two times more menthol per drop, and powerful vicks vapors to vaporize sore throat pain. vicks vapocool drops. vaporize sore throat pain. trelegy for copd. ♪ birds flyin' high, you know how i feel. ♪ ♪ breeze driftin' on... ♪ [coughing] ♪ ...by, you know how i feel. ♪ if you're tired of staring down your copd,... ♪ it's a new dawn, ♪ ♪ it's a new day... ♪ ...stop settling. ♪ ...and i'm feelin' good. ♪ start a new day with trelegy. no once-daily copd medicine has the power to treat copd in as

cnbc's arabile gumede is joining us now. arabile, good morning. so what happens now? >> well, that's a very good question, right? now they're going to have to reschedule and relook at their entire operations in rite aid. they plenty much decided they're going to restructure significantly and reduce if not do away with certain locations and try to reconfigure the entity and business as a whole and try to see how best they can get sales out. doing this exercise will cost a lot of money so they have asked a few investors as well to continue to add more funding so what they have actually gotten is that lenders agreed to provide them with $3.45 billion us dollars in new funding to provide what is called sufficient liquidity as it evolves from this restructuring plan. it's mounting debt levels, the fact that they were said to be involved in increasing america's opioid epidemic then as well and slowing sales overall have been quite a big factor for them. it has hurt significantly and this chapter 11 bankruptcy means that the assets from now will not be attached to any mounti

. >>> time now for business, and for that let's bring in cnbc's arabile gumede who joins us live fromntially could get another clue about the state of inflation today as it looks at september's producer price index report. what are economists predicting? >> yeah, so that's pretty much the talking point for today's markets. that's exactly why you're seeing there's also some keen focus on the imf meetings happening in marrakesh out in morocco. what is the inflation number for producers of household goods and services. well, 0.3% is the anticipation gain in last month's number according to the dow jones. that is what the market is of course anticipating. plus you also have the federal reserve's minutes for their last meeting which saw them keep interest rates on hold then as well. so the insights into this hiking cycle and where exactly are things going to go. there's also some impact still then from the devastation out of israel and hamas as that war, unfortunately, continues to go through right now. the market will certainly feel the impact. >> yeah, you mention, arabile, the internati

>>> time now for business, and for that let's bring in cnbc's arabile gumede who joins us live from london. arabile, good to see you. stocks ended higher yesterday with the dow jones snapping a three-day losing streak. what are the thoughts as to what we can expect today? >> yeah, so we are pretty much expecting some sort of continued recovery, although right now markets aren't necessarily shape up that way. actually we're looking downward, and it seems the negativity that flowed through august and septembers going through october as well. a little nervousness as the market adjusts and aepts the fact the fed said it will remain higher for longer when it comes to interest rates. what does it mean? we saw the bond yields go higher. basically the return you would get on the one yield in the u.s., basically went all the way up. in fact the 30-year even hit 5% at stage two. it did reel itself in a bit and markets managed to get some gains yesterday. today, however, we look to be headed in a slightly different direction. it is all about the data, though. so the job number out of the u.s. tomorro