i'm joumanna bercetche >> i'm julianna tatelbaum. these are your headlines. >> no nord stream gas flows until the sanctions are dropped. siemens energy says it has claims it needs more repairs before supplies resume. >>> and the yesterday's sold sectors rally and u.s. futures trade higher after the long weekend break. >>> opec and allies ease output a fraction announcing a symbolic cut of 100,000 barrels per day from october. reversing this month's hike. >>> and shares surge after the government agrees to a 2.5 billion euro emergency support package. >>> welcome to "street signs." let's kickoff the top story. russia will not resume gas supplies to europe until sanctions from the west are lifted that is according to the kremlin spokesperson who reiterated putting nord stream 1 is dependent on sanctions being removed. this somcomes that repairs are needed saying it cannot comprehend gazprom representation of the situation and findings do not constitute a reason to cut supplies the comments come after the deputy ceo said an oil leak nee

up 40% for the month >>> time to get worldwide with julianna tatelbaum standing by with the latest moves overseas julianna >> frank, good morning let's kick off with the action in asia. it was red across the board in asian session following the st. louis osell off on wall street. in japan, the monetary policy outlook is different from what we see around the world. the bank of japan pledging to keep policy supportive just this morning, we have fresh lines from the bank of japan governor uncertainty is high, but we must keep ultra easy policy to support the economy. no change or stance there. in china, we saw the shanghai composite drop 1.2%. we saw strong action in the yuan hitting a 28-month low against the dollar now on to european markets where we had a lot of action in two hours. in the last 20 minutes, things have turned positive we were trading lower in the early hour now the dax is up .40% cac 40 up .40% as well italian market out performance after the election yesterday in italy. the center right claim victory in the uk, ftse 100 is holding steady after the selling across the boar

. >>> let's get worldwide in the london newsroom with julianna tatelbaum with the action overseas and all i see is red, julianna >> dom, that is right. red across the board overnight in asia, every region pulled back. shanghai dropped 2.3%. the main benchmark in china suffered the worst daily fall in four months. this came despite fairly up beat retail sales data from china under performance from the security nirms led the losses we bounced off the lows of the morning in london. dax was trading nearly 2% lower. now we're down 1.7%. cac 40 in france down 1.5% we got confirmation of the eurozone august inflation fi numbers. inflation continues to run hot in europe. dom, you mentioned the fedex profit warning here is a picture of the key low d logistics names. the fedex driving risk-off in europe royal down 11% major moves lower in europe. dom. >> julianna tatelbaum, thank you. >>> checking the big money movers julianna mentioned shares of fedex getting hit hard after the announcement it is withdrawing the profit guidance and implementing cost cutting measures silvana henao has more deta

the nord stream pipeline in the baltic sea some suggesting sabotage of the cause of the leaks julianna tatelbaum is in brussels with the meeting. julianna, have lerdsaders come with ways to address the costs >> reporter: frank, this is the second emergency meeting we had from the energy ministers this month alone. it is crunch time for europe as we head toward the cold winter months in terms of what could be agreed today, there is expectation that we could see agreement around a plan to cut energy use and cut down on electricity during peak hours and agreement around the imposition of windfall tax to remove the fossil future e producers. there is a hole in the agenda. the price cap. the measure that has been up for debate in the last several weeks in europe. listen to the chair of the meeting. >> that is not on the table today. everything is possible i expect it will be done at some point on the agenda. >> reporter: now this gas cap is highly controversial as a measure. the proponents of the gas cap say it would bring down the gas for the block and it would be good and filter through lower press

. >>> let's get a check of markets around the world and julianna tatelbaum live in the london newsroom good morning, julianna >> dom, good morning as for european trade, it has been choppy so far at the moment, all of the major regions are trading lower. ftse 100 in the uk is only 7 basis points higher. cac in france is under per perf performing ftse mib is down as they wait for the elections on sunday. and we could have alarm for investors with german august producer price index it shows inflation is continuing to run hot that was the biggest jump ever for the ppi. in terms of the central bank, we got a big decision from sweden central bank the ckrona is trading lower analysts are calling this a catch up move from the central bank to beat inflation running at 9% in august. the move in the krona is moving lower on the back of the decision the idea is the central bank is front loading interest rate hikes, but doesn't mean they will be more aggressive. now attention shifting to the federal reserve. we have the swiss national bank decision this week and the bank of england policy decision

. >>> let's get a check of the trading in europe with julianna tatelbaum standing by in the london newsroom with the latest. good morning, julianna >> hey, dom. good morning let's chkickoff with asia. the shanghai pulling back 1.2% after the central bank in china left interest rates unchanged. outside of china, we did see green overnight. hong kong with 4%. nikkei 2.25. jim l similar move higher in australia. we got green signals this morning. dax is up .25% the real outperformer here is long the uk is the spanish market strong bid for the spanish banks after the government said it is open to modifying a proposed bill on the windfall tax on banks. we have the italian market trading higher by .25% the energy space, we are keeping an eye on shell. we got news with the new ceo and the company will be taken forward. dom. back to you. >> julianna tatelbaum live in london thank you. >>> let's check on the top corporate stories with silvana henao. good morning >> dom, good morning oil giant shell announcing the ceo will step down at the end of the year after a decade at the helm the company appoin

dom. >> julianna tatelbaum with the latest in the london newsroom. thank you very much. >>> let's get a look at the top corporate stories with silvana henao. >> dom, good morning the s.e.c. says boeing will pay $200 million and former ceo dennis mullenberg will pay $1 million for misleading investors after the wake of the crashes of the 737 max resulting in the death of 346 people. neither admitted tor denied the s.e.c. findings. in january of 2021, boeing agreed to pay $2.5 billion to settle a criminal probe with the justice department over similar allegations. >>> fedex says it plans to raise shipping rates by an average of 6.9% across most of the services starting next year this comes after the delivery giant continues to cope with the global slowdown in business. the rate hike is higher compared with previous years and comes just days after the company slashed the profit and save sals forecast. >>> and human a and cvs are eyeing to buy cano health. the deal is likely to be struck in the next few weeks. in speaking to those close to the meteoratte

i'm julianna tatelbaum. >> i'm joumanna bercetche. these are your headlines >> euro sinks to a two-decade low while yields rise after russia shocks markets by cutting gas flows to the market via nord stream 1 the kremlin is weaponizing energy >> we have to save energy. we will have to share energy we have high level of storage and we are not afraid of putin's decisions. >>> gas prices surge european governments rush to react with germany launching a 65 billion relief package for houses and sweden and finland pledging billions warning of a lehman brothers moment for the sector. >>> less than three weeks from the elections, moscow wants to hurt europe and italy in particular >> russia is trying to influence european political landscape and he is trying to influence italian governments. >>> and hours before the uk reveals the next prime minister with liz truss looking to take the keys to number 10. >>> welcome back to the show a bit of a recap of the pmi numbers. eu economies continue to fall in august with the worst show in 18 months fo

arrows in asia overnight and europe has a rough early start going on let's send it out to our julianna tatelbaumtanding by in our lunar newsroom with the latest good morning. >> hey, dom, good morning. as for asian trade, the invests are taking their trade from it the hong kong hdown 2.2%. the bank of japan could be preparing for currency intervention in china, the mainland, some resilience dropping just 0.8% so a more resilient performance than we saw elsewhere. as for europe, you're absolutely right. we got off to a rocky start, but a bit of a stabilization you've got the ftse over in italy. a bit of green for the spanish market as well the xetra dax down 0 fountain 2% we've been listening to ursula von der leyen who delivered the state of the union she said the european union will more aggressively tackle the european crisis including low cost electricity providers and asks for contributions from the fossil fuel producers who have been making huge gaines. they didn't go any farther on natural gas, but that's under discussion we've got ftse trading lower swiss market also trading in the red, d

that is it for "street signs" this morning that's it for me in the studio julianna tatelbaum >> that wraps up our special coverage from rome i'm steve sedgwick i>>'m joumanna bercetche. thank you for joining us on this special morning in rome. >>> 5:00 a.m. at cnbc. here is the top "five@5. investors bracing for the trading week to kickoff the back of the selloff markets testing thresholds futures are pointing to a muted open >>> the fed also very much in focus for traders, but the atlanta fed president weighing in on the balancing act of tamping down inflation and preserving the economy his comments ahead. >>> and a major election overseas in italy as the country prepares for the first far right government since world war ii. we are liv

we go to julianna tatelbaum in the london newsroom. good morning, julianna >> frank, good morning kicking off with equity markets. we have seen reversal of the rally that caming te together ln the day yesterday. all majors in europe trading lower and sectors. particularly heavy selling in cyclical parts of the market it is really broad based 1.5% lower for every single index in europe. ftse 100 is down 1.5%. we saw more serious under performance in that market earlier this morning now losses all of this as the fiscal fallout continues in the uk. sterling assets selling off sharply. reversing the moves from yesterday. the bank of england took emergency action to calm bond markets as you suggested there unleashing a 65 billion pound bond buying program. this morning, the uk government is talking and defending fiscal plans showing no remorse after the market turmoil after the wake of the mini budget delivered last friday. liz truss saying it is not the time to reverse the budget now coming on to the next steps for the bank of england, the

i'm julianna tatelbaum. >> and these are your headlines. >>> u.s. futures push higher after wall street plunges to its heaviest losses in more than two years. >>> the volatility is spotted by a higher than expected rate, raising expectation the fed could look to hike rates by 100 basis points at its next meeting. >> it's this notion the fed doesn't know what it needs to do i think that's what spooks the market is it about 25 basis points extra eight days from now? not really it's more what do we expect six months out, nine months out, a year out. >> putin will fail and europe will prevail von der leyen rallies against russia's war, taking a strong stand as she hosted the president of ukraine's wife at the state of the union address. >> i want to make it very clear, the sanctions are here to stay this is time for results and not for appeasement. this has to be very clear. >> a report suggests berlin is weighing the nationalization of troubled utility group uniper by upping its stake from 30% to over 50% majority shareholder fortem says talks are ongo

. >> i'm julianna tatelbaum. these are the headlines. >> dignitaries arrive at westminster abbey for the state funeral for queen elizabeth ii london city hall is saying all public viewing areas are now full. >>> the stoxx 600 looking to hit the lowest level since july. >>> and volkswagen with valuation of $75 billion in the largest ever offering for porsche. >>> and the eu plans to withhold funds from hungary with the dispute and now puts the budget procedures at risk >> the assessment is the risk for the budget at this stage remains. therefore, we cannot conclude the subject budget is sufficieny protected. >>> italy has approved 14 billion euro in aid amid the gas crisis with the total up to 66 billion euro the package is part funded by the energy bills and extends tax breaks for businesses and provides state guarantees and sets out a 150 euro payment for workers and pensioners who earn less than 20,000 euro per year let's look at how italian equities are faring in the run-up to sunday's election. .60 lower in t

for that, let's bring in cnbc's julianna tatelbaum who joins us live joumanna bercetche who joins usutures down again after there were more losses closing out the month of august. lots of red. there it is. so much red. and now we're heading what is known as an historically poor month for markets, september. what's the feeling there? >> yes, well, the feeling is not so pretty for today, either. all of the three majors are seen opening up in negative territory, building on an august to forget, the dow ended the month down about 4 percentage points, and the nasdaq, the tech heavy index down about 5 percentage points for the month of august. despite the trading month this month, in september is not looking so good either, one thing investors are watching for today, as the ism manufacturing numbers are expected to show a decline from last month, as well as the weekly jobless claims. maybe that could change the trajectory from him but the bigger concern is obviously the growth concerns of a potential recession. >> the company that has been in the news a lot lately is bed bath and beyond an

pipeline in the baltic sea with the growing chorus of people suggesting sab sabotage we have julianna tatelbaumre on the meeting. julianna, have leaders come up with concrete ideas of what they will do? >> reporter: good morning, andrew we actually just had news agreement was struck political agreement to address high energy and electricity prices in europe many will say the deal doesn't go far enough. what was agreed? mandatory power savings as well as special levees on energy producers. plan taking profits that fossil fuel producers and help households deal with the energy prices absent was the deal from the eu wide gas price cap this is the divisive topic in europe many argue, including italy and france, that the price cap would be beneficial for europe to bring down the price of gas into the continent. there are big opponents to the deal including germany who argued a gas price cap may divert key gas supplies away from europe to parts of the world willing to pay more asia and, of course, the u.s., a major lng supplier germany doesn't want to harm those supplies there will be pressure on eur

we have julianna tatelbaum with the latest >> melissa, good morning european markets picked up where on friday. more selling across european equities we had a bit of a bounce this morning, but investors immediately faded that rally the selling continued. now every major market trading lower. italy, investors reacting to the expected result from the italian election yesterday with the right wing coalition claiming victory yesterday. in terms of uk markets, ftse 100 down 1%. the real action has been in sterling you mentioned overnight we saw sterling hit a record low versus the dollar this is in the announcement of the tax cuts coming across the board raising fears of inflation spiraling further from here and raising the expectation of the raising rates from the bank of england. it feels momentum is building around the potential for emergency interest rate hike from the bank of england this year >>> turning to corporate news. unilever ceo alan jope will retire at the end of next year the board will search for replacement and will consider internal and external candidates this comes two