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Iaii will decline next year. We anticipate the same rates next year as last year. European equity markets pull back and yields fall as german Business Activity contracts for the fourth month in a row suggesting the largest economy is well into the midst of recession. Bond bears retreat. Bill ackman pulled the position on the short position and bill gross is calling concern over the health of the u. S. Economy. And ha anmas releases two m hostages as Emmanuel Macron arrives in tel aviv as diplomatic efforts continue to step up. Happy tuesday. Warm welcome it street signs. We will kick off the show with the latest pmi. The october flash figures. The flash pmi has come in at 46. 5 . That is down from 47. 2 in september. The pmi hitting the lowest level in nearly three years during recession worries. Here is the breakdown. The manufacturing pmi is 43 which is down from 43. 4 in september. The Services Flash figure is 47. 8 which is down from 48. 7 in september. A bit of comments from the data of the s p alongside hamburg commercial bank. In the eurozone, things are moving from bad to worse. We would not be caught off guard to see a mild recession with two backtoback quarters of negative growth. That is the commentary coming from the Service Provider after the pmi has hit a near threeyear low. Optimism about the 12 months about factory managers weighing the output dropping from 53 to 56. The lowest reading this year. Now on to earnings. Big mover this morning to the down side is barclays which posted the Third Quarter profit of 1. 9 billion pounds topping e expectations of the u. S. Credit card unit offset the investment bank. The uk lender said it is reviewing costs which warned it may result in additional charges in the Fourth Quarter. Why is barclays down more than 5 this morning and dragging the rest of the uk Banking Sector with it . Here is the look at the big five uk banks. All lower today. Nat west is down 2. 6 . Arabile, let me ask the question to you. Why is barclays reacting so negatively . It is not just the beat, the profit beat, which is a positive element, but the devil is in the details. They are set to cut costs as they try to ensure the squeeze on margins and competition doesnt hurt the business continuously. They lost out with the core business or revenue which is seen as being strong. Whether it is fixed income or the Commodities Division which fell 13 . Market volatility is dampening trading. That continues to hurt business. They have put aside 433 Million Pounds and that is for the anticipation of more bad loans. It gives you a clear sense that not just in the uk, but the Global Business overall is anticipating a weakening economy across the board. The soft landing that we continuously have been asking about are seemingly dissipating a little bit. Consumers are getting a little more hamstrung as well. This is now anticipated to move down from the initial 3. 15 guidance which they put out previously and now sits at 0. 35 to 0. 1. That could be a scary factor for them. The investors or shareholders are not getting any unscheduled returns of excess capital. That comes from the 750 Million Pound buyback in july which took the sting out of the first half earnings which did not necessarily impress investors. Clearly, evaluating material structural costs, julianna. I think things are looking dire. The coo did warn that margins would be squeezed. The proof of the pudding is here. We know the uk government is forceful encouraging banks to pass on higher Interest Rates to depositors. That is what we have seeing with the infliflection point. That is the problem. We are not sure if in the uk they are done hiking or not considering the inflation is still at the high rate it is. Arabile, thank you for going into the details for us on barclays. Sticking with the Banking Sector, unicredits profits up 36 in the Third Quarter. The italian lender set aside 1. 1 billion euro in reserves to the windfall tax. Lets get out to joumanna in milan this morning and speaking to the bank head. Joumanna, good morning. Reporter good morning, julianna. What can i say . This is another quarter of beats for unicredit. They beat on both the top line which came in 4 higher than cons consensus. No price tsurprise they got a b lift in income. Unicredit is one of the banks most geared for the higher Interest Rate environment and operating in. Every quarter that i spoken to him this year, i have talked about the lift from Net Interest Income. Looking ahead, it feels we are approaching the end of the ecb rate hiking cycle. There is political pressure here in italy as we have spoken about the banks tax. Not necessary to reduce the margins, but pass on more of the benefits of higher Interest Rates on to the banking consumers. I thought when i sat down with the coo an hour ago, one of the questions i wanted to ask is less about this quarter itself, because the quarter had a lot of positives going for it, but what about next year . What did he see happening with the Net Interest Income dynamics and a function of the pressure from the banking imposition . Here is what he said. When we look at the blended, iia will decline next year. It will be more than the next average rate. We anticipate the same rates from this year and it will continue to move up. We will have offset in the asset and management strategy. It is getting to a level where it is staying for a year. Lets talk about that pass through. You mentioned it a couple of times. It is a bit of a political hot to topic. Unicredit has been criticized for having a low pass through. Do you feel the pressure to increase based on the decisions by the Italian Government the last couple months . I think the pass through is related to currency counts. Italian banks have a stronger position because our average balance is very low. My average balance is 5,000 euro or 6,000 euro. When you have 5,000 or 6,000 euro, you are no having an issue with that. We have reduced expepenses forr customer of 264 million this year which is why my fees are down at the moment. In the current account, the strategy is if you are transa transactional, we will limit you. We will reduce the fees that were charging you. We are also telling our clients f you wclients, we can go in government bonds where the yield is no longer plus or minus 50 basis points. It is plus or minus two or three. Reporter julianna, it is interesting to hear from horses mouth here. He was talking about the average amount in the customer accounts and customers with 5,000 or 6,000 are less concerned about the pass through and more concerned about extra expenses. What they have done to tackle it is reduce the question fees the pays. That is the way he responded to the question. Overall, the community does expect the pass through to increase from 30 to 40 next year. Irrespective of that, they are still guiding to the same level of profitability as they delivered in 2023. That is notable. It tells you although the headwinds are emerging for them, the outlook is still in tact. Of course, we spoke about the macro environment and there is a slowdown that you were talking about with the pmi coming in at lowest level in a couple of years time, but also the political shocks. I posed how he is viewing the rise of tensions, specifically in the middle east, and how as a business you can respond to that. We were always built on global open freedom, one world, et cetera. If you are looking at today, we are building walls and fracturing the world. Were opponents. In my opinion, there is less attempt to understand each other and con kconverge and resolve problems. The transition from the environmental standpoint will continue to create shocks. We have been clear that is the case. We have had unbelievable growth and benign environment for a long time. As for an example, you ask the company with the perfect value chain which was imported from russia and selling in another region and now those regions are no longer part of the plan. You need to completely change that in uncertain geopolitical times. It is a ground business and economic standpoint where we have a number of shocks that will hit us that are different from what we have seen in the past. Reporter echoing djamie dimons comments saying it is a very dangerous time. Businesses need to be more adaptable in the face of the external shocks. Julianna, one bright spot from the earnings report. 17. 2 ceo ratio. They are sitting on plenty of capital. That is why they are delivering so much back to the shareholders. Earlier this week, they announced they are looking to buy 9 stake in the greek bank and take over the operations. It tells you that unicredit is a powerhouse in italy, but they are looking across the border for opportunities. That is something we need to keep on our radar in the coming months. I know people are waiting for more opportunities. Joumanna, fascinating stuff. Especially to learn about the customer dynamics and what they care about according to the ceo. Excellent reporting. Norwegian aluminum giant posted a dip in the third profit with lackluster demand for the metal. We have the cfo joining us now. Thank you for being with us. Let me kickoff with the results. Weaker results today compared to a year ago. Summarize the quarter how things went for you. In general, aluminum price has been developing with the macro environment as a whole. Higher Interest Rates for longer is impacting our demand and volumes and prices in both aluminum and other commodities that we sell which are falling in the period. There are some bright spots. Green transition demand continues to be strong. Auto and electric vehicle demand and demand in the electrical segment are bright spots. Building and construction is still weak. Tell us how raw material costs have progressed over the quarter. Have they turned into a tailwind for you . Yes, they have. Both in aluminum and metal, we see that core prices and pitch prices and all of these are trending downward. There is one raw material factor which is moving in the other direction. That is trending with the general uncertainty in the oil market. What is the outlook for raw material costs . Do you think those key he inputs are on the downwardtrajectory will continue on the downward trajectory for the coming quarters . Yes. If you look into our Fourth Quarter, we expect 400 to 500 million release in raw material costs in the prima alum inum division. It is drive n by the same drives in the Third Quarter. It is fuel oil which is holding conditions today. Very clear. Good to put a value on the release. Lets talk about the demand side. Looking through results, it stood out that demand from china has been stronger in a few key areas. Can you elaborate on that . Yes, it is an interesting situation because most of the Market Participants were expecting china to be weak on the challenges with the building and Construction Side driven by the property issues. Then prices are continuing to increase in china to the extent where they have been positive to import aluminum from outside of the worldchina. As we get into the data, we see the same drivers outside china which contributes positively. It is chinas green transition and increasing sales and production of electric vehicles, but most of the quarter, it is the boom in solar insulation with 1 00 gigawatt of solar powr so far. This is unlike anything we have seen in other parts of the world. The other green transition is ultra high speed cables and trains are contributes. This is more than compensating for the weaker Property Market and some of the aluminum analysts are expecting china to be in under supply for the quarter. What is china doing from the supply perspective . They are having to import it right now. They have been ramping up a bit of supply. As you may remember the last time we spoken, there were questions regarding capacity in aluminum and coal where they are struggling. You had a lot of rain filling up the reservoirs in china. That capacity has come back, but not to the extent they dont need to import. As you know, we have a situation in the aluminum market with russian material finding its way to different markets outside of europe to a larger extent. We see a lot of that flowing into china. Most likely at the lower cost. Let me turn to the other big piece of news announced today in addition to the results. You also announced progress on the jv for hydro rain. I think investors are encouraged by the news this morning with analysts suggesting this is the reason the stock is performing so well. Talk to us about the transaction that was announced and the implications for hydro. We are pleased to announce the transaction today because this is key to our renewable growth journey. We have been building up capacity of wind and solar in brazil and nordics and we have always said we will do it on a capital light basis together with a partner. Given the volatility in the Energy Markets over the latter period and the bit slowness in the development in the renewables segment, this has taken a longer time than we expected. It has taken a longer time because we have been looking for the perfect partner. We are happy to signed off with them to continue to move forward and carbonize in the years to come. That is where investors were worried a potential equity injection into the renewable. You say no further injections from hydro. It has the ability to be self funded for growth. That is our ambition over the last years. Now they woill come in with 33 million in funding for the years to come. After that period, you will see investments we made into renewable solar, et cetera, will generate their own returns and we have a strategy of selling projects to ensure we can keep this self funded in the coming years. That is the clear ambition. Very clear. Thank you so much for joining us. A pleasure to speak with you. Coming up on street signs, european equities are in selling mode. We will look at more key results after this break. woman what would the ideal Weight Loss Program look like . No hunger, no cravings, no isolation, more energy, lasting results, and easy. Is that possible . It is with golo. These people changed their lives with golo without starvation dieting. 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Your water, your way. Now with even more flavors. Available at walmart or drinkcirkul. Com. To duckduckgo on all your devie duckduckgo comes with a built n engine like google, but its pi and doesnt spy on your searchs and duckduckgo lets you browse like chrome, but it blocks cooi and creepy ads that follow youa from google and other companie. And theres no catch, its fre. We make money from ads, but they dont follow you aroud join the millions of people taking back their privacy by downloading duckduckgo on all your devices today. Welcome back to street signs. We are an hour into the trading session. We see a pull back across european markets. Broad based as well. The ftse 100 is under performing down. 40 . Similar losses for the swiss market and ftse mib. We have resilience with the cac 40 down slightly below the flat line. Similar pull back for the spanish market. This comes after yesterday with a bit of a volatile session ont stocks selling off heavily. You have the French Market around the flat line and crossing into positive territory. Lets break it down by sector on the busy earnings day in europe. Basic resources up 1 . We spoke to the hydro cfo. That stock up 5 after a key jv with Asset Management. On the downside is the banks. Down. 90 . Looking at the big earning names, you see what is dragging. Barclays with the stock down 7 . Unicredit reports today. Better than barclays with more resilience down. 90 . Puma delivered results. The stock is trading up 3. 6 . Logitech is up 9 . We have hermes up 1 . Astrazeneca is delivering the forum in spain and that stock is trading 1 higher. As for u. S. Futures, investors st stateside are keeping an eye on tech today kicking off with microsoft and alphabet delivering today. We have cocacola and Texas Industries and gm among the names reporting later on today it in the u. S. We have the head of macro Asset Management here with us. Florian, great to you have here. Thanks. We have seen a downward reaction in barclays which reignited the debate of nims. What is your take on the Banking Sector . It is a more global story. If you look at the banks, they have been pushing numbers in the earning season. Globally, we have been disappointed by numbers. It is not just a barclays story, but more globally with earnings season not going the way we thought it would be going. What do you mean by that . We had a lot of gdp numbers showing resilience of the world economy. We should see a much stronger earnings season than we have been having so far. Worldwide, a growth of sales and the earnings number aggregated is disappointing to say the least. You have the higher rates and weighing on demand and in the meantime, we had this manufacturing improvement. We were believing that would be the kick start. It is going the other way around. Service slowdown and pmi this morning plus rising political tensions and all of that is contributing to pushing equities lower or making them volatile. Where do we go from here . You described what we have seen so far from the data. Where do we go from here . Have we seen the bottom in hfh manufacturing . The german pmi is hovering around 40 for the manufacturing. That was higher than a month ago or a couple of months ago. Have we seen the bottom . Is the future going to look brighter or are things going to get worse from here . We spend way too much time focusing on manufacturing. The thing we should look at is the service pmi. Looking at it. We thought the Manufacturing Industry should be a sign of coming recession. Now we hope the rebound in manufacturing will be a sign of an improving situation. The Service Sector has remained so strong, it is preventing us from entering recession. Right now, the Service Industry is deteriorating. That is the key point. The way forward for us is down in terms of global demand. We see it in earnings and service pmi. It makes sense with what Central Banks are willing to achieve. When you talk about services should be the focus for investors, is that the case in the u. S. And europe or more so in the u. S. . The u. S. Are leading into the cycle and it is quite clear the fed is the first to hike and pushing rates higher than in europe. Our eyes should on the u. S. , but look at europe. What is happening this morning is consistent with that story. The services are disappointing and manufacturing is flat in germany. Slightly better in france. You see this across the eurozone. When you look at china, you see the same patterns. Recovery of manufacturing and slowdown in service. Service industry is a majority of the world gdp. That is where our eyes should be at the moment. We have the uk pmi coming out. We will keep our eyes on the Service Sector there. Florian, thank you so much. Head much macro multiasset group at lombard. We have the october flash numbers. 48. 6 for the flash pmi. That is slightly better than 48. 5 in september. Manufacturing pmi at 45. 2. Higher than the september figure and services which we just were told to look at closely. 49. 2. Slightly weaker than 49. 3 in september. You see sterling right now is essentially flat against the dollar on the day. 122. 49. It has come down quite a way over the course of the morning. Hovering around the flat line. We will see if that changes. Coming up, we will take a deep dive into the figures from the uk with Chris Williamson next. You deserve better than that. Im hungry, im in a hurry, i dont have time to make anything healthy. You could if you had a blendjet. Blendjet . Its the portable blender that makes the healthy choice the most convenient choice. I dont know. It seems like a hassle. Hahaha wrong. Just pour in some milk, add some frozen fruit, and bam youve got a nutritious and delicious smoothie. Mmm that is good. Youre welcome, sad office guy. Get yours today at blendjet. Com are we in in an ad . We sure are. Welcome back to street signs. Im Julianna Tatelbaum in london with Joumanna Bercetche in milan. These are the headlines. The uk lender barclays falls 16 and unicredit surpasses the estimates. The ceo tellss me he expects th environment will moderate. The rates environment will be the same average rate. We anticipate the same rates next year to this year. European equity markets pull back and yields fall as eurozone Business Activity takes a downturn with the flash pmi hitting the strong evest in yea. Bill ackman signals concern over the economy. And hamas releases two more hostages as macron arrives in tel aviv as diplomatic efforts continue. Pmi readings across europe show the Major Economies are in contraction with the eurozone hitting the lowest level in three years. The german Manufacturing Sector pushed the country deeper into contraction territory. We have just seen the latest pmi in uk with the composite level rising 48. 6 from 48. 5 a month ago. Chris williamson is joining must k me now. Chris, what does this tell us about where we are going from here . Good morning. Eurozone started Fourth Quarter on the soft footing. We had five months now of contraction. The rates of decline is not accelerating rapidly, but it is a worrying pace with the gdp falling. The worst rates in france and germany where easily gdp contraction is evident. This is a steep downturn. If you ignore the pandemic months, we have not seen this since 2012 or 2013. Historically, this looks weak. I guess where we are on the Interest Rate picture could be a lot worse. We are seeing some support and tailwind of postpandemic spending to help offset the cost of living and keeping the pace from falling further. It is interesting to see where it goes in the coming months. Interesting you are saying we see postpandemic spending, or revenge spending, if you will. This is due to the Labor Market Holding up well. You have a comment here with the colleague which has commented Service Providers hiring came almost to a standstill in the eurozone. Not just continuing to cut staff, but ramping up job shedding plans. This is the key question moving forward when it comes to whether we see recession or whether the jobs market does roll. What more detail can you tell us with the labor market . Yes, obviously the labor market is often a lagging indicator. We have seen it hold up really quite well so far. These are the first signs that we have the job market now. Across eurozone as a whole, we had Service Sector and now shedding jobs leading to the first drop in overall employment levels since pandemic lockdowns of early 2021. The labor market is starting to show cracks. Companies are beginning to look ahead and think the order book situation is not sustainable for this level of employment. You have to start reducing head counts in the order book declines the past few months. This is beginning to come to bear and that will weaken the labor market and start to draw down spending overall. It is showing that effect now, but at the moment, it is still muted. That is the key thing to watch as we go forward how it comes to bear. The upside to that is there is cooling of wage growth pressures we are seeing in the eurozone and in the uk as the labor markets start to soften. W wage borrowing power is coming down. That was precisely where my question was heading. Around what this may mean for wage pressure. That has big implications for the European Central bank in terms of what they do next with rates. We just had an asset manager on talking about the importance of the Services Sector moving forward. In his mind, that is key to whether we see a market downturn. How are the different key eurozone economies faring in terms of Services Specifically . Theres a fairly broad picture which is evident in the eurozone and uk where we had the resurgence earlier in the year. We were warned it did not look sustainable because of the revenge spend with travel tourism. We said this will fade as quickly as it came about. It did as we headed into the autumn as the high cost of living and Interest Rate hikes come to bear. This is the impact we have now. It is that Service Sector that is causing all of the change in the data at the moment. One would expect that given the lagged effect of Interest Rates that youve got more weakness to come here. In manufacturing, it is more an t more connected to the economy. Given the hike in rates we had for this year, you feel the sector would cool further. The one offsetting that is companies are telling us that perhaps were at the peak now of rates and so thats causing relief. At least there is visibility of wer where we go from here. Rates may stay at the high level, but you have the peak in that to start to plan better. We are seeing that act as a little bit of an impetus. Overall, i think that the fundamentals point to some further malaise in the Service Sector for the new year. Chris, can we get a word on what is happening in the uk . The numbers crossed ten minutes ago. The composite there is still in contraction territory at 48. 6. It is an improvement from september and the absolute level is higher than germany, for example. How would you describe the state of the uk economy and how it is faring with higher rates . Again, it could be a lot worse. Were at a level thats consistent with gdp falling at 1. 1 . A very mild contraction so far. It does look like q3 was a slight contraction and rolling into q4. You cant rule out the possibility of technical recession. We are seeing support come through from the consumer side and from the high levels of employment and the tightness of the labor market and high wage growth continuing to help drive growth there. Things could be worse if it wasnt for that Consumer Sector and wage growth. Therein lies the warning we have signs of that starting to weaken. Prospects look a little gloomy on that front from the consumer side in the uk. You know, the inflation side as well ticked higher in the uk in terms of selling prices. The pmi data or lead cpi. The headline inflation sticking around the 4 into the early months of 2024. It is coming down and the cost growth was moderating as well. There are times that inflation is coming down. Sticky in the uk than eurozone. Eurozone prices are consistent with the close end of q 1. Good news coming through on that inflation side. That is the benefit from the weaker demand environment. We are notable with a down turn in yields on the back of the pmi numbers. Potentially one factor driving yields lower. Chris, i want to highlight for you a comment from the ecb with the middle east crisis. Ecb says the middle east crisis is bound to have an impact and the question is to what extent it is monitored and it doesnt want to jump to conclusions on the economy or monetary policy. It is bound to have an impact. Chris, i dont know in terms of timing if the surveys were conducted prior to the escalation of the threats in the middle east. Do you know what is going for your investments . This is stagflation and dampen growth and add to the upside of inflation and oil prices will be key to this and oil prices will add a deal of uncertainty to the picture while the crisis is adding to geopolitical concerns in europe where we had plenty of those. This started to come through with companies saying they are getting more uncertain by the hour. It had a dampeningi effect. Despite the prices, we had a fundamental cooling of inflationary pressures. That demand environment is trumping the Oil Price Rising and bringing the pressures down. Companies do not have the Pricing Power they had a year ago. Chris, thank you for speaking with us. Chris williamson at s p global market. French president Emmanuel Macron has landed in israel to speak with Prime Minister Benjamin Netanyahu and other leaders. This visit is seen as a show of soli solidarity. The death toll in gaza continues to rise with over 5,000 People Killed since Israeli Forces started launching air strikes. Over 2,000 of that number are children, according to the Palestinian Health ministry. Hamas has released two more hostages with the committee of the red cross saying they facilitated the move. 212 people were taken hostage during the october 7th attack by hamas. Coming up on the show, we head to davos in the desert as the initiative kicks off in saudi arabia. We will be live in riyadh after this break. Ah, these bills are crazy. She has no idea shes sitting on a goldmine. 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Pick an order, print everything you need, slap the label onto the box, and its ready to go. Our costs for shipping were cut in half. Just like that. Shipstation. The 1 choice of online sellers. Go to shipstation. Com tv and get 2 months free. Nice footwork. Shipstation. The 1 man, youre lucky, of onlwatching live sports never used to be this easy. Now you can stream all your games like its nothing. Yes [ cheers ] yeah woho running up and down that field looks tough. Its a pitch. Get way more into what youre into when you stream on the xfinity 10g network. Welcome back to street signs. The Fresh Initiative is bringing the latest to riyadh. Dan joycins us from the summit riyadh. What are the ck conversations . Reporter this is the most important conference in the arab world. It is held in riyadh every year. It is hosted by the crown prince. Some of the top ticket names were feared to not come. In the conference room, we had a session from larry fink and dimon, just to name a couple. We have seen policymakers from around the region gathering here to talk about the challenges of the future and opportunities in this part of the world as they seek to tapped into saudi arabia deep pool of public and private capital as the kingdom looks to diversify the economy and transform the society. I had the opportunity to speak with the chair of the hong kong exchange. I asked her how she is reading the geo economic and implications of the market and why it is important for her to be here today. Listen in. We express great sympathies for the people of gaza and that conflict. We hope that peace and a solution is reached soon. With regard to the Capital Markets elsewhere, we have to move on minding what is happening locally and we are respectful of a lot of people still showing up. It indicates the importance of the region in the global and economic and financial world. The exchange signed an mou with the saudi investment. I think we see in a changing world order a great need to connect middle east with asia. We in hong kong, we connect the east and west. Middle east has been a new area in the last few years. We identified that it will be a great opportunity for the middle east and asia and hong kong plays a role in connecting the new hubs of trade and finance in the middle east with the diverse and very Dynamic Market in asia. In hong kong, it is uniquely placed to play that role. Reporter she captures it well. That is what this is all about. It is about networking and relationship building. It is about creating opportunities cross borders. She was talking about the china and middle east access, for example. Another person i spoke to today is tony douglas, the ceo of riyadh air. He is the former ceo who was poached from the uae to saudi arabia to start the new startup challenger airline which is taking on the larger players in the market. I asked him how he sees the conditio conditions in the market. The kingdom is the largest land mass within the arabian peninsula. It has the biggest population. The city were in right now, riyadh, has a population of 8 million. That is bigger than the populations of many of the countries that you talk about with regard to world class competing airlines. Our issue is were not well connected enough at this point in time. There is a g20 country and riyadh doesnt have the competition with the qatar and uae which is unacceptable. It is not just competing for transfer traffic, but enabling pointtopoint traffic to get here for an amazing event like this as well as the incredible destination attractions and mega projects like the red sea global with the huge investment. Reporter tony douglas there. That is the taste of the conversations we have been having on the ground here. Later today, ill moderate a panel with Jenny Johnson from Franklin Templeton and ill have the discussion about the opportunities in the region. Back to you. Dan, sounds like a fascinating panel. Over to the treasury market. Bill ackman making headlines. Unwinding short mornposition on longterm treasury. Ackman first revealed he was bearish on the u. S. 30year paper and saying structure changes will keep the fed benchmark rate higher for longer. He now says he expecting investors to buy into bonds again as a safe haven. Similarly, bill gross is buying shortdated utures. Lets take a look at u. S. Treasuries. Yesterday, we saw treasuryies ad stocks selling off early. Now the 30year bond is back trading at 4. 97 . Over to crypto. Bitcoin breaching the 34,000 mark to hit the highest level since may. We are up more than 9 in the latest session. A lot of the move higher is tied to mounting hopes we could see the emergency approval of the bitcoin etf. A number of financial since tuition institutions are backing this move. There is hope we could see an etf approved. P. Over to u. S. Futures. We have green across the board. We have the Dow Jones Industrial average looking to bounce 80 points. Nasdaq is bouncing 75 points. It is the tech index in focus today. We have earnings from microsoft and alphabet due out later today. It kicks off big tech. Investors think this could be a big driver of the overall market for the days to come. This is it for street signs. Im Julianna Tatelbaum. Worldwide exchange is coming your way next. 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. Shipstation saves us so much time it makes it really easy and seamless pick an order print everything you need slap the label on ito the box and its ready to go our cost for shipping, were cut in half just like that go to shipstation tv and get 2 months free im andrea, founder of a boutique handbag brand andi and this is why i switched to shopify. 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Eight candidates on the ballot. We have a live report in a moment. Plus, on

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