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. >> i'm julianna tatelbaum, and these are your headlines. soc gen fourth. quarter profits double amid a rebound in its retail banking unit. while full year revenue tops. targets and the lender. >> pledges. >> payout to the top end. >> of. >> expectations. maersk shares float to the top of the stoxx 600 after the shipping. giant reports a solid fourth quarter beat. ceo vincent clerc is upbeat. >> despite macro and. >> trade uncertainties. >> if you work on the agility that you need to have to react to. trends or sudden shifts that might occur, such as what. >> we saw in the. >> red sea last year. then you are actually able to see. >> not only problems. >> but a lot of. >> the silver lining also. >> astrazeneca tops. >> fourth quarter revenue. >> estimates and. issues better than expected 2025 sales guidance, driven by. >> strong demand for its cancer drugs. and the bank. >> of. england is widely expected to deliver a quarter point rate cut the. >> third of the. >> cycle, with markets also eyeing a potential downgrade to growth forecasts. join us for an inter

julianna tatelbaum live in our london newsroom, taking one more look at us futures. again, we're seeing big declines across the board. we just showed you a short time ago. red arrows across the board when it comes to the us futures for the s&p, the dow and for the nasdaq. right now the dow looks like it would open more than 600 points lower. we're also seeing the spike in the canadian dollar and the mexican peso compared to the us dollar, and a fall in the euro that is pushing it to parity with the us dollar. let's discuss all of this now with greg branch, founder of branch global capital advisors, a financial consulting firm, and james pethokoukis, an economic policy analyst at the american enterprise institute. both are cnbc contributors. good morning to both of you. thank you for joining us on this day. >> good morning frank. >> greg, why don't we start with you take a look at us. futures under heavy selling pressure. i want to ask you why the president telegraphed all these moves well in advance. why do you think we're seeing such a sell off in the premarket? >>

. >> i'm julianna tatelbaum, and these are your headlines. president trump triggers his trade war, imposing 25%. >> tariffs on mexico. >> and canada. and 10% on. >> china. >> saying it's payback for being ripped off. >> in the past. >> we may have short term, some. >> little pain. >> and people understand that. >> but long. >> term the united states has been ripped off by virtually every. >> country in the world. >> markets turn deep red in reaction, with european majors shedding more than 1%. as trump says, the eu is next in the crosshairs. europe's carmakers suffer the brunt of the selloff, with volkswagen and stellantis the most exposed to trump's tariffs. vw saying it's counting on constructive talks to defuze the trade war. and the dollar surges against its peers as european central bank governors warn that trump's tariffs risk igniting inflation in the. >> eurozone once again. >> the ecb is. mario centeno tells cnbc that europe must take action. >> we are. >> probably use. >> a little. >> bit too much. >> to be. >> sitting in the passen

. >> our julianna tatelbaum. >> is in london. >> with a. >> look at the. >> early action. julianna. >> always good to see you. >> that's right. frank. good morning. great to see you. it's been a busy morning on the earnings front here in europe. overall, the european market is trading higher. this morning. you got the ftse 100 in the uk hitting a fresh record high. in fact a lot of demand for the basic resources names here in the uk. astrazeneca also a strong performer providing some support for that index. a big day on the monetary policy front, with the bank of england decision coming out in a few hours. so a lot to play for. let me dive in for you to a few of the big movers this morning. we've got soc gen in the banking space delivering full year net income, up 69% to ■k74.2 billio. annual revenue growth exceeded the bank's target. that stock right at the top of the stoxx 600. maersk another stock on the move. the company posted a beat on the top and bottom line in the fourth quarter, revenue surging to $14.6 billion. and finally, on the downside, caring in the luxury sp