i'm joumanna bercetche. >> i'm julianna tatelbaum.hese are your headlines. >>> european equities dip as investors assess the outlook for rate cuts and the bank of japan could finally be ready to tighten and the yen has the biggest one-day drop since january. >>> chinese exports rise for the first time in six months and president xi jinping is willing to make the u.s. the trade economic trade partner. italy is walking away from the belt and road initiative. >>> crude prices pick up a little after slipping to the six-month low and wti dipping to the $70 mark. >>> and carson block shorts blackstone saying a perfect storm looms for the commercial are property sector. >> we don't think there is any way they can maneuver out of this. we think starting next year, the business and cash flow will be under significant strain. >>> warm welcome to "street signs." we will kickoff with the show with asia. there have been a couple of notable developments overnight. we start with the sdata out of china. exports grew for the first time in six months.

joumanna bercetche is back with more. joumanna. >> frank, you said it.er thursday for central banks in europe. we have already had two rate decisions this morning. starting off with norway's central bank which surprised. they hiked by 25 basis points. a surprise to the market there. of course, you are seeing the reaction in the norwegian krona. another central bank that made a decision is the swiss national bank. they held rates steady and slashed the inflation forecast. i spoke to the chairman to talk through the decision and why they kept rates steady. coming up next is the bank of england. they are expected to keep the rates on hold as the focus turns to easing next year. traders are pricing in 120 basis points of cuts by the end of 2024. frank, we had disappointing gdp data, but still sitting at 7.2%. still firm from the inflation back drop. the big one, ecb watchers are looking for when that central bank will cut in the new year. deutsche bank puts expectations for rates at 2.5% by the end of 2024. that is lower than the current 4%. it indicates the

i'm joumanna bercetche with julianna tatelbaum in london.teve sedgwick joins us from the cop28 summit in dubai. these are our headlines. >>> the u.n. secretary-general hitting out on the net zero he charter saying it falls short. the ex-ceo tells me that companies and governments are united on the importance of cutting emissions. >> what we are focused on is emissions. the challenge is eliminating emissions. how we do that is a function of where technology goes and the circumstances are and where the emissions are emitted. >> john kerry pushes back on cop28 president's claims that there is no science behind calls to phase out fossil fuels and government must stick to the paris agreement. >> you must keep 1.5% as the north star. everything should be geared to make the statement does this advance or take us in the wrong direction? >>> and investors go overweight on roche with the $2.7 billion takeover of the pharmaceuticals. we will hear from teresa graham this morning. >>> and twice as gold. the talk of fed cuts is premature and raising the b

i'm joumanna bercetche, and these are your headlines. cop28 negotiators strike a land marc climate deal, hailing it as the first such agreement vowing to transition away from fossil fuels. implementation will be key. >> an agreement is only as good as its implementation. we are what we do, not what we say. we must take the steps necessary to turn this agreement into tangible actions. >> european markets open to the upside, brushing off down beet data out of uk which saw a surprise fall in gdp, sending sterling and gilt yields lower. >>> the german government comes up with a budget. >>> and attention turns to today's rate decision from the fed with investors upbeat after u.s. headline inflation slows and the s&p is at its highest level in almost two years. >>> welcome to the show, everybody. well, our top story today, delegates at cop28 in dubai have agreed to a climate deal. the wording on the fossil fuels was stronger than the initial draft, calling for a transition away from them and energy systems. the cop president says thedeal sends

joumanna, thank you. has been supportive and helping me prepare for a momentous occasion thank you for viewers for watching i'll be back in the new year that is it for "street signs." i'm julianna tatelbaum >> i'm joumanna bercetche. introducing the limited edition disney collection from blendjet. nine exciting designs your whole family will adore blendjet 2 is portable, which means you can blend up nutritious smoothies, protein shakes, or frozen treats, just about anywhere! recharge quickly via usb-c. it even cleans itself. order yours now from blendjet.com and bring a little disney into your life. with cirkul, your water is deliciously flavored at the turn of a dial, with zero sugar and zero calories. and cirkul has over 40 flavors, so your water can be as unique as you are. try cirkul. your water, your way. now with even more flavors. available at walmart or drinkcirkul.com. hi. i'm wolfgang puck when i started my online store wolfgang puck home i knew there would be a lot of orders to fill and i wante

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joumanna. >> such a fascinating story. as you mentioned, the key word there, strategic charlotte, thank you very much for that report. >>> now, in health care space, argent shares failed to approve their outcome. stock more than 10% lower in september. pretty start price action. down 33% and weighing on the health care sector as a whole. we spoke about the market looking good yesterday but this morning things are looking slightly softer. we've got all three of the sectors opening marginally softer it's been quite the run over the last couple of weeks ago just in the last 2 months alone, the s&p is up 16%. the question is can this performance be repeated in 2024. let's bring in danny mccormick wonderful to have you with us this morning i'm going to start off with an opening question for you what do you think the market narrative is going to be for 2024 >> joumanna, good to be with you. it's certainly going to be about rate cuts, when, and how far will they go i think as we get into midyear, you'll start to see concerns abou

joumanna, it decoupled from the economy.is all about the interest rate environment and the money which is reentering stocks and living bonds. it is fair to say there is a decoupling taking place. when you talk about the real economy, we have seen recent gdp flashes estimates for the third quarter being weak in contr contracti contra contr contractionary territory. it is likely a long-time data issue. the economy looks worse than it is widely perceived. on top of that, now comes the batch of constraints in the new year in 2024 which is on top of general business environment. they are scrapping subsidies all over the place. surprise subsidies scrapping by the economy minister for electric cars. people who have already factored those in are now sitting on the full bill, so to take. they are in energy saving subsidies for housing. i guess we are heading into a dire winter. that's what the ifo institute is saying. they originally were quoted by saying is christmas this year is almost canceled for the year economy. we have both si

joumanna, good morning. >> good morning, frank. wellnovember was a great month for global stocks and noso mu the case if you look at asian stock markets. one in particular end november in the red. that is the hang seng down 0.4 tech names that came under sellinpressure. alibaba, one of the reons why, a lot of focus on the chinese mac joe. kkei up and its best month in three years and plays into what global stock markets have been doing in general. australian index up 3.9%. every single one of these, you have to bear in mind manof the commodity producers are domiciles withinhe uk. one reason, burberry in that. cac quarante, disappoiment in luxury names and xetra dax in germany, relative outperformer up 10% surprising given the manufacturing badrop. what we've seen is a rebound in industrials, seiman's and similar to the.s., keeping a close eye on interest rate expectations as markets price in for cuts, these seem to be doing quite well. >> joumanna, thank you. joumanna bercetche live in our london newsroom. >>> we prepare to kick of

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joumanna joumanna bercetche live in our london newsroom. >>> a threat facing shipping in the red sea, key channel for 12% of the global trade. the u.s. and its allies are reportedly considering a strategy shift from defense to offense. that would include military strikes against houthi rebels. looking to avoid the area.er ar joining us with more is crai fuller, a leading provider of global supply chain intelligence. greg craig, great to have you here. >> thanks for having me. >> so far $35 billion in cargo diverted. give us a sense, a perspective on a global sense and u.s. sense. how big of a deal is it? >> it's a much bigger deal if you're in europe. globally this is a significant development. and i think what is most concerning is that, you know, commercial shipping has largely been a very safe mode of traffic. it's been a very good mode of traffic. now we're in a whole new generation of geopolitical conflict where they're looking at the fronting lines. and if it continues to exacerbate, it will create significant disruptions. i think what it also does is changes the way supply chai

good morning, joumanna. >> good morning, frank.s you can see behind heme, it another mixed session. nikkei is putting a dampener on the nikkei down 1.6%. focus on autos with toyota down after recalling 1 million cars in the u.s. that was a drag on the nikkei 225. hang seng is green. up .40%. theshanghai composite is up with the lead in the energy and artificial intelligence sector names. some commercial banks may look to cut rates on timed deposits as soon as tomorrow. >>> switching to europe, every index is trading in the red. similar to what we had in the u.s. price action. the ftse 100 is down .30%. marginal out performance in basic resources. we are seeing luxury come under selling pressure. cac 40 is seeing luxury coming off. also watching out for the moves in autos here which is not a pretty day for the automakers. renault is at the bottom of the cac 40. dax is down .50%. although we are seeing a little bit of green and the stoxx 600 is at a 23-month high, we see red on the board. frank. >> thank you, joumanna bercetche. >>>

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joumanna bercetche is in our london room with the early morning action there.d morning, joumanna. >> good morning, dom. we're seeing a lot of green in the markets. of course, markets are reacting to the very strong rally we had yesterday in bond yields. ftse up. xetra dax is up a tenth of a percent. the dax is now sitting at an all-time record-high. pretty astonishing when you consider how weak the data has been. only today we saw a decline in industrial orders. and the contact in france is up. merck, the stock is down 14% after their multiple sclerosis drug failed in the late stage trial. it is a blow as they were leading the race to target more treatments for the disease. this is the worst performer in the stoxx 600. you mentioned airlines in the u.s. tui over here sees operating profit rising 25% in its current financial year after more than doubling in the year to september 30th. we're seeing a very strong reaction today, and the stock up more than 9%. up toward the stoxx 600. dock. >> joumanna bercetche in london with the latest on the european action. >>>

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thank you for being here. >> good morning. >> joumanna called it a transitional area.s there one event that will have the biggest impact on the year ahead? >> it will be the ecb. i'll be watching when the ecb will start cutting interest rates and what we are currently see is we have not reached the peak. it will be until june before we get the first rate cut. this will be a crucial moment for the eurozone economy. the first part of the year will be sluggish and stay in recession. >> talk through this, carsten. you say the beginning of the year is sluggish. the dax and italian ftse mib are on pace for the best year since the pandemic. what changes? >> we he look at the stock market and it is remarkable. this looks as if the european countries had grown in 2023 by 2% or 3%. this is not true. the german economy in 2023 will end up in recession. the eurozone economy will have grown by 0 .5%. i look at the delayed impact from the policy in 2023 and 2024 will weigh on investment and consumption. the first half is the reality check for the investors when the economy the will

i'm joumanna bercetche. >> and i'm julianna tatelbaum.hese are your headlines. >>> europe has the worst in the pullback and bond yields tumble as the board member rules out fur further rate hikes. >>> and the late 2023 rally takes a breather and investors reassess the rate expectation. >>> opposite ends of the line. er ericsson shares are deep in the red. >>> and negotiators are considering a phaseout of fossil fuels as the lead speaker claims he doesn't believe in climate science. >>> good morning. welcome to "street signs." we have final pmi crossing the wire from the eurozone. the pmi has come in at 47.6. that is better than the fl flash estimate of 47.1. the services pmi at 48.7. that was better than 48.2. we are still seeing a contraction in business activity. in terms of what this means, the fall in november business activity adds to recession expectations. that is what the survey provider has to say. the service sector maintains the slide in november. the index does not leave much room for optimism for a swift recovery in the immed

joumanna, great to see you this morning.ures appear up this morning after, though, the s&p 500 and the dow fell for a second straight day. so what's driving the markets this early wednesday? >> i would say the answer to that question is rate cut expectations. that has emerged as a major theme going into 2024, and more and more investors are saying that 2024 is going to be the year of rate cuts. in fact, right now the market is penciling a 14% probability of that rate cutting cycle beginning in january. so yesterday we did see very big moves in bond yields. the ten year sitting below 3%, that's the lowest level in three months. two-year treasury yields also about 5 baesz points lowch that has been in the drivers seat. the lowest levels since march 2021 signaling some weakness coming through on the labor front. and ism services number did come in better than expected, but it didn't quite move the needle into the close yesterday. as for today we're watching out for the adp print. it is wednesday after all, and the trading updat

let's bring in joumanna bercetche who joins us live from london. joumanna, good morning.ding even after the s&p 500 hit a new high following a five-week win streak. what can we anticipate as this week begins? >> that's right, jon. so the s&p did actually make a new 20-month high on friday. it is up 19% for the year and only 4% away from its all-time high. big moves across all asset classes. two-years had the biggest move since the banking crisis. gold hitting an all-time high of $2,100, this as the dollar continues to decline. as for today, futures are looking a little lackluster. it looks like we're in for a negative session, but there's a lot to watch for. today we're going to be getting u.s. factory orders and don't forget friday is that payrolls figure. >> we're looking forward to that. investors are looking toward rate cuts hopefully next year, but fed chair jerome powell seems to be tempering expectations. give me the latest. >> yeah, he seems to be pouring cold water on the speculations. in a speech on friday, fed chair powell said it's too early to declare victory

good to see you, joumanna.ping an eye on the november producer price index set for release this morning ahead of the fed's next decision. how's wall street shaping up with that as its backdrop? >> that's right, john. well, the main event yesterday was the cpi print. those came in line with expectations. headline coming in at 3.1%. the core number at 4%. with that stock markets continue to go from strength to strength. we have the s&p and the dow back at highs not seen since 2022. the good run for stock markets continues today. futures seem like they're going to open in the green as well. the focus as you say is on those whole sale inflation numbers, ppi number expected to show a jump of 0.1% in november. the headline figure is much lower than cpi. it is expected to come in around 1.2%. so strong disinflationary steins there. of course the main event is that fed meeting. all eyes will be on the tone that comes out of the conference as well as their economic projections and thought projections next year. right no

i'm joumanna bercetche and these are your headlines. >>> european equities open in a festive red as theanta rally takes a breather. the u.s. posts the worst daily performance since september. >>> and sources tell cnbc that warner bros. discovery and paramount are in talks as the battle to take ground in the streaming world. >>> france's sports minister says the olympics could generate up to 10 billion euros and create 60,000 new jobs as paris is preparing for the games. >> people are demanding. it is also some positive pressure on the shoulders to do all the extra mile and effort to make sure everything is as good as the french people deserve them to be. >>> autos in reverse. toyota shares sink as it recalls more than 1 million vehicles in the u.s. over safety concerns, while the biden administration considering raising tariffs on chinese evs. >>> welcome to the show, everybody. the last couple weeks, i feel i have been a broken record talking about the new highs we keep facing in the stock market dayafter day where we are getting in new highs from the u.s. market and dow close to the a

i'm joumanna bercetche and these are your headlines.res take off as full year profit more than doubles and the group eyes a bumper summer season while the german travel operator mulls an entry into the german midcap index and a d listing from the london stock exchange. >>> germany's dax shrugging off a decline in industrial orders to add to its all-time highs while the u.s. futures point to gains on wall street. >>> global bond yields trade at multi-fund lows as growth concerns add to rate cut expectations from central banks. bank of america's brian moynihan tells cnbc the economy will rebound once rates ease. >> rates coming down don't help, but on the other hand, stabilization will kick up and activity will kick back up. investments slow this year. uncertainty picking back up. >>> and a draft text from the cop28 summit points to countries formally considered a phaseout of fossil fuels despite oil and gas producers over the phasing. >>> well, it is another solid day for european markets, the stoxx 600 sitting at a four-month high. we h

joumanna, it is a jobs friday. jobs report from november set to be released later this morning.ts predicting? >> yeah, that's right, john. so let me just start with markets because yesterday we did see a better session for all the majors in wall street. the nasdaq saw a session up 1.7%. we saw strong gains in google parent alphabet after they launched gemini. chip makers up 2% and 9% respectively. today futures are trading slightly positive. of course the big event is going to be that nfp print. economists are expecting 190,000 expansion in payrolls growth. i should tell you in the last three months it's averaged 204,000, which is interesting. we are beginning to see moderation. the unemployment rate will also be in focus. that is 0.2% higher over the last 12 months. it hasn't moved up a lot, john. signs of a robust economy, and of course people are getting concerned about the softening and many signs of that heading into 2024. >> you just mentioned one of these companies. two major chip manufacturers battling for dominance in the latest in a.i. tech. tell us more. >> yeah, so a

good to see you, joumanna.three-day run of losses for the s&p 500 and the dow. how is wall street shaping up in the morning's early hours? >> that's right, john. it has been a weak cup of days for stock markets. yesterday all three majors ended in loss making territory led down by the nasdaq, and today the tone isn't that much different. asian markets are leading declines. innikkei, the japanese index is down almost 2% in trading on reports the bank of japan is looking to move away from negative interest rates. that has set the tone for european markets as well as u.s. futures. in terms of potential catalysts of course all eyes on that nfp print tomorrow after yesterday's slightly disappointing adp print there's expectation these numbers may indicate a weakening in the labor market. it is thursday after all, and on the corporate side of things we're looking for results out of lululemon and broad comm after the close. >> some good news here. u.s. gas prices and oil prices are at their lowest in months. should we

i'm joumanna bercetche. "worldwide exchange" is coming up next.rd to run a business on your own. make it easier on yourself. with shopify, you can have everything you need to streamline your shipping, returns, and product storage, so you can focus on growing your business. because when we work together, the future is bright. it doesn't have to be lonely at the top. join the millions at finding success on their own terms. start your journey with a free trial today. ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even a term policy! find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com. when we started our business we were paying an arm and a leg for postage. i remember setting up shipstation. one or two clicks and everything was up and running. i was printing out labels and saving

for that i want to bring in cnbc's joumanna bercetche live from london.n live on television. i said so glad to have joumanna on as i did so many yearsgo when i was hosting this show this time around. let's talk about the rally we're seeing. end the day yesterday as before quite a rally. what the predictions here how long this is going to last? >> that's right, yasmin. i said the same thing behind the scenes. it's great to see you after all these years. it's been quite an eventful week for wall street. the dow was up 2.7% this week touching fresh all-time highs breaking through 37,000 for the first time. s&p and nasdaq also through 2.5%. and many investors are likely that fed meeting on wednesday as a christmas gift simply because positive reaction. the market is now expecting 150 basis opponents of rate cuts out of the fed next year, but it's not all about the fed. we did have better u.s. retail sales numbers come through yesterday. surprising for the up side for the month of november. so the u.s. consumer continues to defy expectations here. as for today

frank. >>> joumanna, thank you. we will talk about the red sea later in the show. >>> the markets will try to keep up the positive momentum as we head into the final stretch of the year. several straight weeks of gains with the bulk coming after the fed decision on wednesday. there is one more big test before santa visits wall and broad streets. investors are looking for more information that inflation is easing and the fed is reining in price. core pce will rise by .10% for the month and 3.2% on the annual basis, which is down from 3.5% in october. let's bring in ross mayfield. great to have you here. >> good morning. thanks for having me. >> give us a sense, ross. we see a big rally in the market. a bull market in recent days. how important is pce to that rally continuing and us having a santa claus rally? >> i think it is really important. this rally is predicated on the fed easing more than the market expected next year and the soft landing being on. you have the risk-on rally. you need every data point to confi

. >>> let's go to see what the european action is looking like this more than with joumanna bercetche. >> i want to bring you price action from asia the shanghai composite is flat line hang seng is dipping .75%. the focus overnight in japan nikkei is up 1.4%. this is in direct response to the bank of japan meeting. expectations were high that maybe they would sound hawkish in the end, the bank of japan kept raise steady. the governor said it is difficult to give a firm picture on when the central bank will end the country's ultra loose policy after leaving rates unchanged. that was expected. it makes it the only central bank in the world with rates in negative territory nikkei up 1.4. the yen is 1.3% weaker against the u.s. dollar. ten-year jgb is in linewith fixed income markets >>> this is the picture today for the markets. we are moving toward the green the ftse 100 is up .10%. a bit of a bounce in energy stocks the declines are pretty notable in autos and other cyclical sectors this morning dax is up .20% the french index is slipping into the red down .3%. both of the indices reac

. >>> let's see how the europe trade is with joumanna bercetche in the london newsroom. good morning. >>> good morning, dom. the stoxx 600 is putting in a positive session. 22-month highs now. stellar performance. almost every single board is trading in the green with the exception of the spanish index. ftse 100 in the uk is up .60%. we got wage data showing much lower than expected numbers. three-month average weekly earnings at 3.7%. still very high. a significant miss. that is why we are seeing a rebound in interest-rate sensitive sectors. strong rally in gilts. ten basis points lower in the uk. dax is one to watch at 16,811. the reason i'm pointing this out, dom, is because it is an all-time record high. the dax continues to make new highs although we talk about the weakening back drop. cac 40 is up .30%. we are all watching closely in the central bank meeting with the bank of england on thursday and ecb. a couple of stocks i'll share with you. astrazeneca is up 1.6% after the company said it will buy vaccine developer in a deal worth $1.1 billion. that acquisition w

frank. >>> joumanna bercetche live in the london newsroom. we turn back to equities and investors may be getting ahead of themselves in pricing in rate cuts. the cme fed watch tool shows a 61% chance of a cut in march. some believe 14% odds the cut is coming in january. rick reider saying these numbers are over the top. >> the narrative of the economy falling off a cliff and moving in the recession and fed we wern january. that is presumptuous. i don't think the economy is falling off a cliff. i don't think we are going into significant recession. >> he believes the returns are not doing the same from this year into 2024. we now bring in josh wein on our phone line from hennessey funds. >> good morning. >> maybe this rally has been fueled by a false assumption. >> i think i agree largely with what he is saying. i think the market is assuming it is favorable inflation data propelled the market higher will continue to trickle the down in a straight line. the trends look like a straight line down or up, but it will be bumpy. i think the trend is

. >>> let's see how europe is shaping up with joumanna bercetche in the london newsroom with the early action across the pond. julianna, good morning. >>> good morning, dom. i love the new look. that is my chance to see what is happening on the day of the new look for cnbc. it is not pretty in europe despite the better hand over from wall street on friday. we have most of the european indices trading under water. the ftse 100 is down .40%. basic resources at the bottom. some coming under selling pressure after the weaker numbers from china. cac 40 is up .10%. the big issue is the ecb meeting on thursday. in terms of the leadership, this is the sectors are looking this morning. we have industrials up .40%. pmi numbers on friday is key to watch with financial services up .30%. on the flip side, oil and gas cannot get a break. down .50%. and insurance is down .40%. defensives are coming under selling pressure this morning in addition to the minors. back to you. >> joumanna bercetche, thank you very much for the update from europe. >>> the final negotiations are under way at the united nat

joumanna bercetche live in the london newsroom. thank you. >>> we turn our attention back to the u.s. markets and six straight days of gains. back-to-back record highs for the dow means optimism about the rate cut forecast is powering the rally. traders are bracing for what could be the final liquidity event before the end of the year. options contracts are tied to $5 trillion in stocks and etf and indexes all set to expire. we have the quarterly and annual rebalancing of the s&p and nasdaq after the close. the impact of both could lead to a volatile session where billions of shares are changing hands. let's talk about this with robert teeter at silvercrest asset management and lindsey bell. chief strategist at 248 ventures and cnbc contributor. she also went to pitt. lindsey, what do you think about the triple witching day? $5 trillion of expiring options. how will this impact the day ahead? >> i think will add more volatility. i think over time these are less and less impactful to the market. a little more volatility could be mor

joumanna, great to see you this morning.marks the start of the final full trading week of the year. we just showed all the green on the board. it looks like good signs for wall street? >> yeah, jon. well, we got this far. but let me tell you, stockmarkets have been on a great run as of late. majors ended up 2.5%. the russell index up more than 5.5%. magnificent 7, only up around 1.7. but for the year as a whole, that basket is up 1.4%. major rally for those capped tell stocks. we saw euros drop, treasury down around 30 basis point. pivotal was the fed meeting. lots of people talk about rate cuts for next year. they're seen in opening in positive territory. the dow is set to open at a record all-time high. the s&p 2% away from the all-time high as well. we have the housing index. watch out for further fed come men trir. today cnbc will be interviewing austan golsbee. >>> and costco has sold more than $100 million in gold. what's going on here? >> they released for the first quarter of their fiscal year, they sold more than $1

and for that let's bring in cnbc's joumanna bercetche live from london. are in the green this morning after the recent market rally took a breather. what can we expect today from the markets? >> that's right, sam. so all of the three majors are seen opening up in positive territory. around 0.4 to #.5 higher, so not significantly. but taken in context to what happened yesterday it's quite a rebound. we saw all the three majors yesterday lose their winning streak. the dow it was its worst trading day in months. s&p and nasdaq both of those the dicies down 1.5%. but the s&p and dow pulling back from their all-time record highs, this despite getting better data in the u.s. consumer confidence was up to a five-month high. we saw an unexpected rise in u.s. existing home sales as well. in terms of what we're watching out for today, we're getting the weekly jobless claim numbers, the third estimate for gdp and conference boards leading index. watch out for nike. >> nike, i will look out for that one. two media giants discussing a possible merger. tell us about wh

. >>> time now for business, and for that let's bring in cnbc's joumanna bercetche live from london.es are flat after the major averages yesterday continued to build on their recent rally. talk to us about what's driving the markets right now. >> good morning, ali. yeah, so as you mention futures today are seen opening up in negative territory, but it has been a quite strong run as of late for markets. yesterday we had the dow close at another all-time high. the s&p sitting at another all-time high, about 1% from its all-time high as well. so very strong run recently. one stock was in focus yesterday. and that was fedex to the down side. the shares fell 8% after the company lowered their revenue after a weaker outlook. they're now expecting a decline in revenue. so that's weighing on logistics this morning. in terms of what's coming up today not a lot on the agenda but a couple things watching out for. u.s. confidence numbers released as well as existing home sales. it'll be interesting to see the impact on home sales with higher interest rate activity. >> meanwhile shippers diverted

our joumanna bercetche live in the london room with much more. >> european markets are all trading inhe green. we have the stoxx 600 close to a 22-month high. it continues to go from strength to strength. ftse uk coming in at minus 0.3 % for the month of october versus expectations of a flat reading. this follows on the weaker-than-expected wage growth. perhaps it will start sounding slightly more dove issue. we have the xetra dax, breaching the 16,800 number, higher on the session and reported news that the german budget has been agreed on for 2024. that's a good driver for that market as well. as for european sectors, this is where the leadership is coming from. on theflip side, food and beverage down. oil and gas cannot seem to get a bid these days, 0.4%. chemicals is up 1.5%. one we're focused on is basf, the german chemical maker has upgraded the buy rating from neutral. that's led the entire complex higher and the tech space continues to do well off the backs of u.s. markets. frank, i'll toss it back to you. >> i have to correct myself. i said gas is down. >>> the s&p is opening