i'm joumanna bercetche. >> i'm julianna tatelbaum.hese are your headlines. >>> european markets look to close the week on a bland note with minors and luxury names driving gains as investors hoping the china economic slump has hit the bottom. >>> european chip makers slide on the report that psmp is asking for delivery delay of high-end equity. the ceo of softbank says the group is here to stay. >> this is the big a.i. time. i'm going to have a big role in that. >> we are aligned on the long-term view of the company. the world runs on a.r.m. >>> and french consumer prices tick higher the day after the ecb hikes rates to a record high, but suggests it may have done enough to stamp outs inflation. although christine lagarde refuses to say it is definitely enough. >> both matter. the level is restrictive and duration. it is not to say because we can't say that now that we are at peak. >>> thousands of u.s. auto worker goes on strike hitting production at gm, ford and stellantis as the uaw union president warns the group will not buckle.

>> it is a case of show me the money, joumanna.ctually it did overspend and spend more than the other european leagues. it was the number two out of all of them. we will get to the numbers in a moment. it is backed up by the saudi public investment fund which has bought four clubs out in saudi arabia and decided to keenly focus and zone in on sports being a key player in the market to diversify income and try to get more jobs in different sectors. they have gone into golf and boxing and now into football. we have seen this happen across the middle east in many ways. saudi arabia is certainly playing their part. they made big purchases of the names who made moves into the saudi arabia league. moving from europe into saudi arabia. the big spenders with the leagues and the english premier league by the high margin. you look at the saudi pro league and it did not make the cut with all of these. this time around is the second biggest spender in the transfer period for the summer and leading in france and syria and italy. that is interes

i'm joumanna bercetche. >> i'm julianna tatelbaum.hese are your headlines. >> european equities struggle at the open after disappointing data from china weighs on global sentiment. banks post losses with commerzbank leading the losses. >>> and country garden wires money to creditors for payments on two u.s. dollar bonds due today staving off what would have been the first default. >>> xpeng announces plans to expand into germany as automakers continue discussions at the auto show. the move is about prestige according to the ceo. >> it is the highest standard market for oems. to be here and make our product available to the customers in this market will help us further penetrate the continental european market. >>> and novo nordisk de-thrones lvmh as investor appetite for weight loss drug soars. >>> good morning. welcome to "street signs." just in the last couple minutes, we have been getting the final pmi numbers for the month of august in eurozone. let me tell you, they are worse than the flash. it is not positive. the final composit

i'm joumanna bercetche. these are your headlines. >>> top of the range. a.r.m.rices the ipo at $51 a share with the stock set to debut today on wall street. >> i am disappointed by that given that it was always dual listed in london and new york. my hope was a dual listing again. i wouldn't rule that out. >>> italian banks slump as giorgia meloni vows to push ahead with the windfall tax as it could stoke weakness in the stock banking sector. >>> and maersk makes waves in the shipping industry and wowing the first green initiative with methanol. >> it is our energy transmiitio becoming reality. not just commitments and hard work, but something everybody can see. >>> hawkish because or a pause? the central bank weighs what could be a tenth consecutive rate hike along with witupward rev revision. join us for the decision at 14:10 cet. >>> good morning. welcome to "street signs." today is finally the day. it's here. a.r.m. announced it will price at $51 per share for the ipo at the top of the range. the chip designer says shares are expected to be in trading in new

i'm joumanna bercetche. >> and i'm julianna tatelbaum.hese are your headlines. >>> the dollar slips against the basket of currencies with hawkish sentiment going higher. >>> president biden insists the u.s. is not trying to hurt china an focused on getting the relationship right amid reports beijing tried to challenge the 2026 presidency of the g20. >> this trip is less than containing china. i don't want to contain china. i want to make sure we have a relationship with china. >>> the g20 faces criticism for watering down the condemnation of russia while others strike an infrastructure deal in the push for influence over the growth south. >> this is a world where we learned from covid and the war that supply chains need to be reinforced and diversified and connectivity matters. >>> and a.r.m. considers raising the price range on the ipo amid reports the price change is over six times the price. >> the specific risk is all revenue comes from the jv in china. it has no control over the business in china which is a risk all its own. >>> good

i'm joumanna bercetche. >> i'm julianna tatelbaum.hese are your headlines. >>> china's trade slump eases, but exports dip for the fourth straight month as beijing pushes through policy measures to help support the ailing economy. >>> basic crresources lead loss with the seventh straight session in the red. this is another disappointment for the european economy and the industrial output falling more than expected. >>> london stock exchange group plunges after investors sell 43 million shares netting a 4$4 billion pay day. >>> and andrew bailey questions how much higher rates need to go telling lawmakers the end is in sight. >> not saying we're at the top of the cycle. i think we are nearer to it on interest rates on the basis of current evidence. >>> good morning. welcome to "street signs." another day and another round of chinese data. let me bring you the highlights. china reported another trade slump in august, although imports and exports fell less than expected. exports declined by 8.8% on the year. this is against july's 14.5% f

joumanna, earlier this year, aramco reported $161 billion profit.his is the largest profit recorded by an oil and gas company or company in general. this is fueled by soaring energy prices. this money has been redirected, so most of the profit has been located to the sovereign wealth funds and gone into sectors such as tech and growth equity which has been beaten down. >> rami, good morning. julianna here. we have seen a run-up in energy prices in last few months, but this is something the u.s. government is keen to attest as we head into election season. how are your clients thinking about the energy outlook and energy prices given the expected pressure that the u.s. government and biden administration is hoping to put on energy prices? >> that's a great question. the move in oil prices is especially meaningful given the strength of the u.s. dollar. when the u.s. dollar is strong, prices don't rally as they have. this surge happened primarily due to crude stocks falling at this key storage hub in oklahoma and it really puts pressure on it. we are a

i'm joumanna bercetche. >> i'm julianna tatelbaum.hese are your headlines. >> european stocks see another day of losses under pressure amid rising global yields with the 10-year treasury yield hitting a 16-year peak. >>> jamie dimon is cautiously positioned for the come down with another rate hike likely. >> he is prepared for higher oil and gas prices and rates. as a matter of being prepared, the geopolitical situation is most concerning. >>> the shine comes from luxury stocks as disappointing sales growth in china leads to a series of downgrades for the sector. >>> asmi shares drop after the chipmaker raises the top line target, but falls short of expectations from the street. >>> good morning. let's get a check of the markets. you see the early hours of trading is a lot of red on the heat map. you coulcould say markets are grappling with the news from the central banks last week. namely most of them are done with the rate hiking cycle the, but higher rates are here to stay with us. it has been a difficult couple days for the indice

i'm joumanna bercetche. >> i'm julianna tatelbaum.hese are your headlines. >>> smurfitkappa merges with westrock. the newly combined firm set to lift in london. shareholders have a lot to look forward to. >> a long series of negotiations. we got to agreement at 7:15 this morning of the deal which will be fantastic for the shareholders. >>> a.r.m. looks to close the books early on the blockbuster ipo amid reporting the listing is ten times oversubscribed. >>> jpmorgan chase ceo jamie dimon is urging caution and warning that despite the positive sentiment, he still high has major concerns of the american consumer. >> if you are spending like a drunken sailor, that is a big butt. >>> and european equities make a muted start despite strong gains on wall street and uk wage growth tops inflation in the three months to july. >>> warm welcome to "street signs." we will kickoff the show with smurfit kappa. the company is announcing the tieup with westrock. the company has a combined revenue of $34 billion in the 12 months to the end of june wh

i'm joumanna bercetche. >> and i'm julianna tatelbaum.hese are your headlines this morning. >>> european equities push higher in trade after the surprise jump in u.s. unemployment with the expectations the fed will hold rates this month. >> people are going back to work and the economy is resilient and balanced. we see that balance in the labor market. that's why inflation has come down. >>>s shares in country garden hu hit a three-week high after they extend a deal pushing asian equities higher pushing the hang seng leading the charge. >>> and the italian deputy prime minister saying they could pull out of the initiative as he visits china for a fresh round of talks. >> the european countries are working better than us. italy, we decide if we stay or not stay. >>> plus, the european economy commissioner telling cnbc he is confident in the europe growth rate despite concerns germany is facing a slowdown. >> please don't call this a recession. we can avoid recession. we have in the second quarter of the year limited growth, but not recessi

joumanna, good morning. >>> that's right, frank. we figured it is the last day of the trading month and quarter, we will look back at how all of the indices have done the last couple months. let's start with asian indices. you see all of the indices are ending the month in negative territory. nikkei in jap dan down 2.3%. they did not transpire with the move from the policy. some chip makers and energy stocks came under selling pressure. hang seng is in focus not over the month of september, but the quarter as well. let's flip to the quarter to date chart. down 6% for the hang seng as investors got to grips of what was happening with the chinese economy and the huge pullback in the real estate sector. that is hanging over that index. on the flip side, the best performing stock is an oil expiration company. that is the picture overall for the quarter. as for european markets, this is the picture. the only spot of green we got for the month of september is the ftse 100 over in the uk up 3.1%. again, that shouldn't be a surprise given h

i'm joumanna bercetche >> and i'm julianna tatelbaum and these are your headlines. >>> european stocksover around the flatline and the yields on the 10-year treasury have not been seen since 2007. >>> and germany's ipo goes live with a valuation of 4 billion euro european viewers hear from the ceo at 11:15 cet. >>> donald trump heads to detroit as white house hopefuls trade barbs in the second presidential debate hosted by fox business >>> eu trade commissioner tells cnbc that tie was china are one-sided after the visit to beijing as the eu questions its future relationship. >> translator: indeed our trade relationship is imbalanced we are running a trade deficit close to 400 billion euro. one of my points in the different meetings was the need for more economic imbalancing and reciprocity. >>> warm welcome to "street signs. we will kick it off with the fresh inflation data from germany. we have data from the state of hesse. cpi is up 0.3% in the month of is september that is an acceleration from 0.2% logged in august. we have 4.7% inflation that is down from where we were in august at

i want to see joumanna karadsheh. she is there, just arriving there. joumanna, what are you seeing?one second here. it's obviously very shaky, and you can imagine with these missing people why they can't ascertain who's dead and alive, they can't get there. and obviously a lot of these cell signals are down, so we'll see how we're doing with joumanna here in just a moment as they talk to her. we're about to go to her. okay, so right now joumanna karadsheh who's our reporter able to get into libya, you're looking at images we do have. she's die dialing back into our control room so we can speak to her. some of the images of derna of what we understand to be the hardest hit city from this storm, we understand there have been bodies everywherech am it's been almost impossible to get help in. the storm had we also understand about 23-foot waves that came through. there had not been a warning across libya so people did not have a sense this was even coming, and this is what -- right, and this is what we have here right now. joumanna, again, she's now called in for the third or fourth tim

i'm joumanna bercetche and these are your headlines.t's super thursday for central banks as sweden's bank has a 25-basis point hike. i'll speak to the sencentral ba as part of the bumper decision time. >>> and the swiss surprise move with the down beat cues from asia and the u.s. as the fed presses pause. >>> and investors countdown to the bank of england decision as they are leaning toward a hike after beginning the day on the knife's edge. >>> and cnbc understands the writers guild of america is nearing an end with a deal and hoping to strike agreement with hours. >>> welcome, everybody. we have a packed show coming up for you. it is a huge day for central banks. right now, let me bring you the latest news from norway with norges bank. they raised interest rates by 25-basis points. they raised from 4% to 4.25%. remember, norges bank surprised by ahiking back in june. they indicated two more hikes were to come. they have done that now. listen to this about the forward guidance. whether additional tightening will be needed depends on ec

joumanna bercetche is in london with the early trade. joumanna. >> good morning, seema. it is a big day for europe. we have the ecb decision coming up later today. the market is 66% priced for a 25-basis point hike. this moved up a lot in the last couple days after the reuters report suggests they are looking to increase the inflation forecast which would give them an excuse to hike. going into that is a mixed picture. german index is down .10%. french index is down equally. the italian index is down 8 basis points. the ecb sent a letter criticizing the banking system in italy. the italian banks have come under selling pressure. in the uk, a different reaction to yesterday. remember the gdp numbers came in disappointing for the month of july. today, however, we are seeing a positive price action on the back of kmcommodities. we are seeing a spike in the price of oil and basic resources. as for sectors, this is where leadership is coming from for europe as a whole. retail under puerperforming. autos. we talked about the address from the commission president with the state

a negative handove over, frank. >> joumanna, thank you very much joumanna bercetche live in the london newsroom. >>> we stick with the overseas action and the developing story with shares of evergrande slide for a second straight day. they are down more than 8%. on monday, the company missed a bond repayment we have emily tan from hong kong with more on the story emily, what's the latest >> reporter: thanks, frank the bad news keeps coming forf for evergrande the media report saying that the company's ex-cfo and ceo de detained by authorities. not much more detail than that all of this news weighing on the stock over the company missing the bond onshore payment shares tried down 8% this is all to do with the flagship unit in real estate saying it failed to pay the payment and interest on the $4 billion bond this result the in evergrand shares tanking as much as 26% on monday the missed payment is the latest setback since defaulting back in 2021 it has been seeking proposals to restructure debt which includes bonds and collateral and re-purchased obligations this is a bigger player in t

i'm joumanna bercetche welcome back to "street signs.ow seeing a 50-50 schabs after uk inflation rates call in softer than expected >>> the 10-year u.s. treasury yield hits the highest, putting pressure on wall street. in an interview cathie wood emphasizes the hawkish stance. >> the fed has been very aggressive, most aggressive fed in history interest rates, 23-24-fold in a year's time. that has never happened before. >> instacart closes up at nearly 12% as the grocery delivery firm makes its debut on the nasdaq. >> we have now proven that we have kept the covid gains and grew on top of it and grew sustainably and profitably, which is really important. >>> and european vice president maros sevcovic speaks. >> this investigation, to be fair, must be conducted properly, but in the meantime it's clear that we have to redouble our effort that our industry remains very competent. >>> welcome back, everybody. wheel it is a big day for markets, the fed meeting is coming up later on we'll be watching out for economic projections markets are tra

joumanna bercetche is in the london newsroom with the look. joumanna. >> that's it, frank.day. lots of central bank decisions to get through. let's recap. swedish bank and norway bank delivered .25 point hikes. the swiss national bank is ahead of the local one from the bank of england decision with the money markets split on what to expect. of course, yesterday was a key determining of what the bank would do with the uk data inflation surprise to the down side. the markets started dialing back what the bank of england may do. the market is now 50/50 on whether they go for a 25-point hike. all trading under water. the ftse 100 is down .60%. cac 40 in france is down 1.2%. luxury is under selling pressure. ftse mib is selling off as well. in terms of asian markets. hang seng down 1.3%. again, taking inspiration from the price action on wall street. the hawkish interpretation from the fed today. nikkei down 1.4%. the chip makers are coming down in trade today. that is having an impact on the tech stocks in the nikkei. frank, we are not done with the decisions. we have the bank

joumanna bercetche is in the newsroom with all the action.ello, joumanna. >> good morning, contessa. shanghai caomposite down half a percent. no new stimulus, which is why we haven't managed to get a sis stained bid over here. attention is on soft bank within the nikkei. that's down 0.2%. all eyes will be on the arm ipo as we have been covering on the show. in terms of the european markets, the picture is a lot more subdued. you can sew they're all trading in the red. we had industrial production numbers come down. so the macro is not so pretty ahead of the ecb meeting tomorrow. we're watching bp closely within the ftse 100. the ceo bernard looney had to step down overnight. the reaction is somewhat muted. we had gdp data coming in, also quite disappointing for the month of july. we're also watching inditex, spanish stock. that's down 2% as well, likely on the expectations they'll have to start cutting prices in the coming months. >>> and the story within europe is within the auto space. we saw a little bit of a green pop in automakers after

we have the bank of england on thursday as well >> joumanna, thank you joumanna bercetche live in the london newsroom. >>> turning back to stateside. we are ten weeks away from black friday and the holiday shopping season despite interest rates at a 22-year high, the economy is resilient. first here on "worldwide exchange," is mastercard sales forecasts. forecast to increase 3.7% thanks for surging electronics and experiences. jo joining me for a deeper dive here on cnbc is michelle meyer at mastercard. >> good morning, frank. >> michelle, let me know if this is a coincidence holiday sales 3.7% that is the same as the cpi. how much of the increase is inflation and how much of it is a true increase in consumer spend? >> that's a good observation, frank. i think you are right. it is the same as cpi. we are looking at a different measure of spend than what you would see in overall cpi you want to look at each categories and compare the spending by category to inflation by category. the second point is you are right with nominal spending. part of the gain in spend is the change in prices

i'm joumanna bercetche. >> and i'm julianna tatelbaum. these are your headlines. >> 646. the european equities are set to notch another as they reach expectations in july. the latest round of the dismal data for the block. >>> european yields edge hire while the ecb dlooks at nbim ce. >> trade wars and all of this is driving inflation and it's negative for markets. >>> china's real estate roller coaster is rolling. helping to stem losses on the hang seng. >>> and tsmc signs a noncommital note saying they've not yet decided whether to invest. >>> all right, everybody. we are kicking off the show, taking a deeper dive into what markets are doing today. that's a lot of red on the board behind me. we're going to get into the drivers for the european session, but first let me take you back to the u.s. session yesterday. of course, it was the first day back after the holiday and all three sectors ended the seg in the red. negative sentiment being picked up in the last hours. a lot of focus on what's been happening to the price of oil. it has reached $90 for the first time since

i'm joumanna bercetche. >> and i'm julianna tatelbaum. these are your headlines this morning. >>> bp bounces off early woes as inve investors see the ceo resigns. >>> alliance sets out a surprise new course of action in her state of the union address. >> i can announce today the commission is launching an anti-subsidy investigation as to electric vehicles coming from china. >> a.r.m. will look at the top and the chip marek will invest $100 million in the listing. >>> and uk assets painting a mixed picture after a july gbp goes to the downside. ex-checker gary davies tells cnbc government and central bank action needs to be cohesive. >> ultimately we've got to make sure the treasury policy, fiscal policy is always aligned with what the bank of england is doing. >>> good morning, everybody, and welcome again to "street signs." we're going to kick off the show with a major corporate story we're watching this morning. that is that benard loonie has resigned as bp ceo for failing to disclose past relationships with colleagues. looney who took

joumanna, talk about where you are, what you've been able to see. joumanna, it's anderson. and what you've been able to see. we're having trouble obviously with that connection. we'll try to re-establish it. obviously it is a very difficult situation on the ground there. as you can see just the devastation is all throughout the region there in north eastern libya particularly in derna. we'll have more on that. also when we come back we're going to talk to an american caver named mark dickey who the video is just extraordinary. he started having internal bleeding when he was about 3,000 feet under the surface of the ground. 3,000 feet in a cave in turkey, had to get blood brought down to him. he thought he was going to die. i'll talk to him about his remarkable rescue ahead. with flonase, allergies don't have to be scary. spray flonase sensimist daily for non-drowsy long l lasting relief in a scent free, gentle mist. flonase all good. also, try our allergy headache andnd nighttime pills. you know, these kids grow so fast, cherish every little moment you get with them. tyler,

our joumanna bercetche is in the london newsroom with much more good morning. >> good morning, frankcture for europe is decidedly green. every single one is trading in positive territory a lot of focus on the ftse 100 you can see we're-inching 0.6% higher, this after a much softer than expected inflation print. the headline inflation slowed to 6.7% year on year in august. that was down from 6.8% in july and sick nif can'tly lower than expectations so on the back of that, we've seen a nice rally in some of these equity stocks, rate-sensitive stocks from homebuilders like 5%, 6% investors are now saying going into tomorrow, the bank of england meeting, it's not so clear cut they will have to hike sitting around 60/40 right now xetra dax up wholesale numbers have been pulling down some of the pricing, something to keep an eye on as we think about the ecb and their next steps we're seeing some brokered downgrades come through. jeffries has down graded some of the stocks, carrying some of the names in that basket that have been down graded as well for the most part on this big markets day

i'm joumanna bercetche "worldwide exchange" is coming up next.he 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. that's why comcast business de is launching theal.ery s mobile made free event. with our business internet, new and existing customers can get one year of unlimited mobile for free. it's our best internet. powered by the next generation 10g network and with 99.9% reliability. plus one line of free mobile for an entire year. it's the mobile made free event-happening now. get started for just $49.99 a month. plus, ask how to get one free line of unlimited mobile. comcast business, powering possibilities. >>> it is 5:00 a.m. here at cnbc global headquarters. here is the "five@5. wall street focused on the federal reserve. >>> also

joumanna bercetche live from london. terrific stuff. thank you.for ukraine, but we'll tell you why it's facing some criticism. >>> and the fight on capitol hill is heating up. this is as the possibility of a government shutdown looms. that's all straight ahead on "way too early." aight ahead on "way too early." mlb partners with t-mobile to not only enhance the fan experience, but to advance how the game is played. aaa relies on t-mobile's network to stay connected nationwide, so they can help get their members back on the road. and we're helping pano ai innovate, to stop the spread of wildfires. now's the time to see what america's largest 5g network can do for your business. age is just a number, and mine's unlisted. try boost® high protein with 20 grams of protein for muscle health versus 16 grams in ensure® high protein. boost® high protein. now available in cinnabon® bakery-inspired flavor. learn more at boost.com/tv ah morning. the golden hour of cold and flu symptoms. i'm feeling better. cough? congestion? all in one and done with new mucin

. >>> time now for business, and for that let's bring in cnbc's joumanna bercetche who joins us liveanother packed day for data. what's your sense as to what wall street is expecting in. >> well, good morning, john. markets are looking up today. all the majors ended the session in the green up about 0.8 to 0.9%. we took a close look at the data that came out yesterday. strong retail sales numbers coming at 0.6% in august compared to 0.9% in july. the market brushed that off because the core number came in line with expectations. investors are also cheering on the successful debut of chip designer arm. that's one of the reasons why the nasdaq did so well. we've got the consumer sentiment reading import and export prices for august, and we have industrial and manufacturing prices for august. and don't forget, jaup, we do have the fed meeting coming up next week. 95% of economists are expecting them to do nothing, which is in line with market expectation, but still they may surprise communications. that's going to be a big event to watch out for. >> no doubt the economic news we'll be c

joumanna bercetche is in london with much more early action. good morning. >> good morning, frank.f a mixed handover from asian markets overnight. slightly more green in china up a quarter of percent. better retail sales dates. some analysts suggesting maybe we're seeing stabilization on the economic front. hang sang down 1.4%. property sector in focus. a drag downward by the tech sector being pulled down by some of the chip makers in taiwan. and then the nikkei 1.1% green as we head into that bank of japan meeting on friday. again, there are some speculation that they may be looking to move away from negative interest rate policy. one of the reasons why we are watching the market so closely this week. as for european markets, the picture is not so pretty, every single one is trading under water as we continue to digest the impact of the ecb's rate hike last week. france down 1% and they're watching out for one stock i'll get to that in a moment at the uk index down .2%. we got better asking house prices this month. just in terms of the stock we're watching out for u within france,

we have cnn joumanna joining us from libya.ll us about the conditions the libyans are facing right now? >> reporter: well, brianna, more than a week since the catastrophic event in the city of derna, and you still have thousands of men, women and children who are unaccounted for right now. you have the sure -- you have people sitting by the sea looking for loved ones, hoping that the waves will wash back the bodies of their loved ones because people are telling us all they want are the bodies so they can bury them because the thousands are now presumed dead. it is not an easy task to try to recover these bodies. we have been speaking to rescue teams here on the ground in the city. you have teams that have been working on the different sites that really look like a bomb site, the aftermath of an earthquake as you have seen in these pictures. you have these search-and-rescue teams, some international teams, nowhere near enough to deal on this scale. you have libyan volunteers using everything from their bare hands to go through t