good stock today, seema moody, 3m, leading the dow up better than 5%. what's going on?ositive development, this potential settlement as jpmorgan analyst wrote in his note to clients, the lawsuit involving roughly 300,000 veterans has weighed on the stock, down 13%, underperforming its peer in the industrial space. this potential settlement is giving investors a sense that end is near. i'm hearing that 3m's board is meeting today to discuss or finalize a settlement. however, this is just one of the legal overhangs that 3m is facing it's still awaawaiting a finally approval of the forever chemicals lawsuit. that has turned to how 3m is going to pay for this. they did add the high dividend payout is a risk the stock yielding around a 6.1% dividend and other analysts said 3m may have to the cut its dividend after the company spins off its health care business. >> thank you seema moody. >>> now to crowdstrike kristina partsinevelos, this company reports earnings this week and a downgrade ahead of that >> exactly and the reason we're seeing that downgrade is it's all about cu

seema moody knows that story well and has details hey, seema. >> carl, i'm hearing from a source closeet, but guys, we knew a settlement was near when 3m's ceo mike roman was ordered to attend mediation talks in may by the district judge. the reported $5.5 billion settlement is lower than what wall street forecasted between 5 and $20 billion, but it is five times larger than 3m's initial attempt to resolve these liabilities by bankruptcy -- bankrupting its subsidiary aero technologies that bankruptcy attempt was thrown out by the courts this year 3m's stock sharply higher as a potential settlement would take one big legal overhang off 3m's plate. subject to board approval. the other being its role in producing toxic chemicals, p fas. a number of states have sued alleging water contamination a 10.3 settlement was announced in june but that does not include personal injuries. 3m did appoint brian hanson as ceo of its health care division, head of its anticipated spinoff, later this year. jpmorgan estimates that this spinoff will bring in about 7 to $9 billion to 3m which analysts say wil

seema moody joins us now with more. >> leslie, u.s.on a strong turnaround in china's economy this year but so far most have been left waiting. dow cfo said on the company's earnings call that anticipated economic rebound following the end of zero covid restrictions have yet to fully materialize and that's left a number of high-profile, multi nationals in a difficult position. continue to invest in the country in terms of a 2024 turnaround or prioritize efforts to diversify away from china in countries like vietnam and india that have their own set of challenges. the answer seems to be both. while apple's latest quarter results revealed strong growth in china, ceo tim cook did cite apple's progress in other emerging markets. in total, tech, by far, does have the strongest exposure to that country with 16% of revenue made there, followed by sectors like materials and industrials, both of those sectors have also seen slowing demand in china. markets are now awaiting comments from president xi jinping who is scheduled to attend the bric su

seema moody joins us now with more hi, seema. >> take a look at booking now hitting an all-time hightside the u.s. the company's continued efforts to expand in key international markets is paying off. ceo glenn fogel making growth in asia a top priority over the past two years with partnerships and investments in china's trip.com and raid hailing company didi exposure is around 30% but growing, the company did pull out of under performing markets last year. as the ceo shared with us yesterday on this show, it's europe and other countries to capitalize on cross-border travel while brian chesky last night recognizing the opportunity to go international saying, quote, airbnb is under penetrated in most countries around the world guys a key question now is whether travelers will revert back to domestic travel post-labor day or stick to traveling outside the u.s. for the winter holiday right now the latest data we have from hopper shows san juan, puerto rico and mexico are high on the list. not going to europe but international, a little bit closer to home here in the u.s., these are the

i'm carl quintanilla with david faber, seema moody live at post nine of the new york stock exchange sara looking to outperform premarket, but that story has flipped. the dow up 0.6 financials up 1% we'll talk about that as a very important day takes place tomorrow we'll take you live to jackson hole, wyoming, first on cnbc interview with philly fed president patrick harker as jackson hole kicks off. >> 30 minutes into the trading session and we are -- we get to nvidia in a moment here are other big movers. snowflake losing early gains following the latest earnings beat the company's cfo warning on the call that company's forecast assumes their largest customers will, quote, continue to be a growth headwind. the stock down about 3%. boeing shares under pressure following new manufacturing defects involving suppliers spirit aero systems. more details later this hour the stock is down right now. >>> dollar tree, the latest retailer getting crushed post-results third quarter earnings guidance well below expectations despite a beat on the top and bottom line we're looking at dollar tree down

seema moody joins us here at post nine with a special guest in the sector. ema, good morning. >> thank you. cummins ceo jennifer rumsey, welcome to cnbc. >> good morning. great to be here. >> good to have you back at a time where we are trying to better understand what's happening in china. latest data not painting a positive picture on the outlook, but curious with over 20% of revenue in that country, what are you seeing on the ground? >> yeah. so we've seen strength in a lot of our markets around the world coming off of record revenue in the first half. ginn has really been a real exception for us. that market has been depressed. this year we're seeing some improvement compared to last year where they had covid lockdowns. we're projecting the market to be up slightly for the year, and cummins is positioned well with new products we've launched there. for us, while the economy is slow we're seeing some outgrowth in the market with new products that we've launched on the back of regulations there. so we're project something slow recovery. we'll see if they do

seema, thank you. we're just getting started here. up next, financials under pressure and the sector feeling the heat after moody's cuts after the bank names and we'll break down the big concerns after the break. we're live from the new york stock exchange you're watching "closing bell" on cnbc. (fthere ya go! that's what i'm talkin' about! (josh allen) is this your plan to watch the game today? (hero fan) uh, yea. i have to watch my neighbors' nfl sunday ticket. (josh allen) it's not your best plan. but you know what is? myplan from verizon. switch now and they'll give you nfl sunday ticket from youtubetv, on them. (hero fan) this plan is amazing! (josh allen) another amazing plan, backing away from here very slowly. (fan #1) that was josh allen. (fan #2) mmhm. (vo) for a limited time get nfl sunday ticket from youtubetv on us. a $449 value. plus, get a free samsung galaxy s23. only on verizon. 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 po