Over a major market. The demand in china is driven by a weak private consumption. This is not really coming up. Theres uncertainty in the people. The export is not picking up that well because the Global Economy is not that strong. And israeli Prime MinisterBenjamin Netanyahu stands firm on the rafah offensive despite telling cnbc they will push on regardless. Yes, we have a disagreement on gaza, rather rafah. We have to do what we have to do. Sometimes you have to do what is required to ensure your survival and future. China and russia signing a joint statement on ties with russian president Vladimir Putin highlighting energy as a key priority. We are looking at breaking news from the ecb. The European CentralBank Financial stability review coming through this morning. Just reallyi speaking about financial vulnerabilities have eased, but the outlook is remaining fragile according to the ecb. Conditions improving ultimately there. Recession risk declining, but markets remain exposed to adverse micro financial and geopolitical surprises. Tight financial conditions are testing the resilience of vulnerable euro area households. Euro area banks are a source of resilience, interestingly enough, but lowmarket valuations suggest challenges do remain related to asset quality and funding as well as revenue. We will get more on this from annette who joins us now. Vulnerability still in place and a fragile market in europe . Reporter thats the assessment of the ecb while the economic downturn or Recession Risk has eased at the same time geopolitical risk and policy risks have increased. What they mean by policy risk is unclear. Ill speak with the Vice President soon and bring you the interview at 1 00 cet. It is probably stemming from all of the elections worldwide and potential change in administration in the United States. That could be one of the issues they could refer to when talking about policy risks. We obviously have the european banks being quite resilient. I think it is quite telling the ecb, itself, is speaking about valuation of banks and also that they are arriving to some conclusion from the low valuation. It is a about asset quality and risks in commercial real estate and the risk on european banks. Clearly, the tight monetary conditions do pose a risk especially for that sector. It is also a risk about the financing the funding costs for banks and they are expected to remain high despite the potential cut in Interest Rate and there is also the uncertainty for the banks for the operational income because clearly there is weakness in the european markets. In another part of the Financial Stability review, they talked as well about the tight monetary financial conditions which test the resilience of the euroarea households. The question is how long can the consumer go on with thetight financial conditions because clearly in the periphery, that is a vulnerable sector and especially in these markets, the consumer and the Tourism Industry is so important. I guess this is a reference to the specific niches of the european market. Overall, the assessment is less dramatic than previous sessions, but they are still pointing out that there are risks and there could be a Market Correction if geopolitical tensions were to escalate. Annette, thank you for that. You will catch up to the ecb Vice President luis de guindos. That interview is coming up at 1 00 p. M. Cet. Speaking of the pullback in the market, that is what you are seeing. It is just not necessarily seeing the rally we had seen in the market across europe. Yesterday, we saw the stoxx 600 go up for the ninth day. 529 is where we are right now. Remaining flat out of the market picture because a lot more of the board across europe as we will show you now is in the red. Only one, the swiss market going up. 50 . The rest of the market taking a breather from the uptick we saw with the ftse 100 hitting the record highs a little bit in the session yesterday. That intraday session high headed toward 8,470. A bit down from that right now. Overall, it is the earnings picture that a lot of the market is looking at over here. Not taking in everything we saw from the inflation print yesterday out of the United States. We will unpack that for you as well in a little bit. Definitely the earnings pick is one to look out for easy jet with earnings which were larger than expected. Siemens with a drop in profit. All of that is influencing the market. Here is the sector look of what is shifting things. Autos and bmw down 1. 4 . The downgrade on that stock is hurting. Autos taking a hit. So, too, oil and gas down 1 . We have seen a slight moderation in the oil price overall of late hitting that 90 mark last month. That has fallen off a little bit. On the other side, swiss re reporting. The Insurance Companies and real estate managing to move higher. Insurance companies are at 1. 5 to the good. What happened and what do we anticipate from the United States . This is actually what you are getting. You could look toward a positive session later on. If you are looking for more data, weekly jobless claims is on deck and news on the earnings front. Retail sales came up yesterday. I think that is an important one to actually look out for here. It gives you a clear sense that maybe there is a moderation of how consumers are spending. If you want to look at the consumer more, walmart will bring out its earnings today and that gives you a sense of the consumer as well as under armour and baidu. Here is the session from the United States yesterday. The significant gains even for the nasdaq which managed to move up 1. 4 . That means tech counters were the big gainers. They managed to surge to an alltime high. That is just the tech sector. One sector managed to head into negative territory. It was just Consumer Discretionary. For all of the bluster we have been talking about, the broadening out of the rally, the tech shares have moved a lot higher. It was the inflation print coming out yesterday that really moved the needle across the board here. You saw 0. 3 month on month uptick on the cpi. Consumer prices growing 3. 4 from a year ago. That 0. 3 is better than 0. 4 of what the market was expecting. It is moderation, but does it mean we are headed toward the 2 that the fed is looking toward . We did point to the u. S. Futures as we showed you earlier on. That will be interesting to note. Wh what happens this time around . The dow closing at a record 180. What happens now . We have head of equities at Fulcrum Asset Management joining us. Does the rally continue . I think so. What is driving the momentum higher on a stage where we are at the end of the earning cycle now and other than the surety you get more rate cuts, what else moves it . Well, earnings cycle is coming to an end, but it was very strong. Earnings are 82 of the earnings in the s p. U. S. Economy remains strong. You have a fed who is very accommodative and dovishly positioned and continuing to signal they are not going to hike from here even in the face of hotter inflation data earlier in the year. The outcomiie being softer. We have a fed which is on come d accommodative and some sectors show continued growth. Did you see anything in the yesterdays cpi print that points to the september rate cut . Was that the data that said, yes, definitely . The fed looks at pce, not cpi and core. The components of cpi which feed into the pce were softer. You were right, the overall cpi didnt move much, but it feeds into pce and the fed looks at core pce and that was softer and revised down some of the core pce guidance going forward. I still think inflation will be pers persistent. They may or may have a cut this year. The main message from the fed is they believe we are in restrictive territory and, hence, they are not considering hikes. Is that the fed saying the responsibility is no longer on us . We have done everything we can do. It is up to government now . They said they are in restrictive territory. Hence, they expect that restriction to feed through the economy with a lag. You said some of the consumer is weak weakening. We dont see it. Government spend is not weakening. Fiscal spend is strong. Corporate is picking up, especially a. I. Corporate spend. The topend consumer is healthy. The bottomend consumer is weakening, but not enough to move the needle t. We believe the if fed is in a g place. It is about what pushes things forward. Thats why i asked and why i was wondering about that. Is the softlanding notion still as soft in this market . When you think about the highlight of the market and you have to push it further in order for it to weaken significantly. Is it still that soft landing . It is still our base case. I say the economy is strong, but certainly our base scase is not overheating. The base case is still a soft landing. There are some parts of the economy like the lowend consumer which is weakening. That stops it from being a run away story. Soft landing is still the base case. What pushes it on, as you said, in the equity market is the a. I. Theme. These companies havent played out. Its not too late. As it digests, they are getting cheaper at a rapid pace. The earnings and sales growth is strong. It is interesting that you said it is not too late. Ill challenge that. You saw facebook get hammered on spend on a. I. Softbank spending more on a. I. For some companies playing catch up, they are putting a. I. Into the ipads with apple. Is it not too late . The market is now going to surely reward you for the money you get from it, not necessarily from the money you spend on it. Im in agreed with you and we do not believe that meta, google, amazon, apple, microsoft, a. I. Spenders are where you should be. We are in the picks and shovels. The ones receiving the cap ex. We believe the market is moving toward data centers and electrification and electric grid equipment and the a. I. Supply chain in asia is a big beneficiary. While the Large Companies in the u. S. Like nvidia or broadcom are beneficiaries, there is a huge supply chain still coming. The cap ex spend with meta will continue to do the cap ex spend ti despite the announcement. The use case is meta is seeing the return on investment and engagement. They will continue. We think that this is one of the technologies which has hit an Inflection Point and wide scale adoption is just coming down the road. You have to be picky. If you look at the 13 filings, amd got a holding and others got an increase. Amd is trying to be the number two player, but it currently doesnt have orders. Microsoft said it will give some shares to it. It is a singleplayer market right at moment for accelerators. We have a number of companies in the supply chain. The number one lead in high bandwidth and one for liquid cooling. There are a number of companies in the supply chain. You are right. You have to be picky. Theres a long way to go. We are six or nine months into the fivemonth story. Valuation getting tricky . I dont think so in the u. S. I think europe actually has performed better this year. A lot better than the overall s p for example. Yeah. Part of that europe does have some champions like asml and novo nordisk. Those companies are doing really well. In u. S. , its a very small cohort which you would argue is expensive. If you look at equal weighted s p, it is still the same from 2015 to 2020. Yeah. It is all bougttombottomup now . Yes. In fact, we think the modern leg is moving from software to hardware. Nvidia, a hardware company, will become the Largest Company in the u. S. Asml and tsm are the Largest Companies in europe. They are hardware businesses. We are moving to the world from software back to hardware. Fascinating. This story is one, as we said, you have to pick and choose and be specific where the question mark lies. Thats why we bring you along. The Largest Consumer returns year to date. Thank you so much for the time. The head of equity at Fulcrum Asset Management. Our u. S. Colleagues will speak with tom barkin later on today. That is coming together at 4 00 p. M. Cet. Coming up on the show, siemens confirming the fullyear outlook. We will have the interview with the ceo ronald bush ne. Xt ah, te has no idea shes sitting on ae goldmine. Well she doesnt 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 youre sitting on a goldmine. Call Coventry Direct today at the number on your screen, or visit coventrydirect. Com. What is cirkul . Cirkul is the fuel you need to take flight. Cirkul is the energy that gets you to the next level. Cirkul is what you hope for when life tosses lemons your way. Cirkul, available at walmart and drinkcirkul. 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 money. Shipstation saves us so much time. It makes it really easy and seamless. 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. Welcome back. Siemens has confirmed outlook for the year after posting Second Quarter revenue of 19. Billion euro. Orders came in at 20. 5 billion euro. That is a 13 fall on the nominal basis. That stock going down 4. 2 so far in this market. You can see it had a dip and it is managing to pick up 20 . Annette spoke to roland busch and asked about the chinese tariffs. I dont see that as the direct impact as we serve our customers with the global footprint. The tariffs and counter actions drive Consumer Prices up. You can arguethe car industry with overcapacity. I watched the Auto Industry for a long time. There was never a time where there was more capacity than demand. When does it stop . It is a little bit of a question. That is what it is. We are serving our customers local for local. We dont see a direct impact on siemens. Are you, perhaps, benefitting from that because you have less competition from chinese competitors in the United States . You know, we are selling on both sides. We have a strong United States business serving customers as well as serving customers in china. I believe people are overestimating how many cars, chinese cars are in the American Market right now. We see the inflow of chinese cars into europe. A couple of ships coming from byd. They have to be tested in the market as well. The consumer have been asking about the service. It is overestimated. Lets talk about the dynamics of the u. S. Market because the u. S. Economy is doing much better than people previously expected and that leads to higher for longer rates. How is your business doing over there . So, we are doing in the United States a 24 of the revenue. We have a softer business there with building and electrics business. Ill give you an example. The electric products have a strong automation business. All other investments when you talk about semiconductor investing there with the huge demand for energy and we invest in the expansion of our product production that pays off. We are in Strong Demand there. 19 growth in revenue. Adjusted net profit at Deutsche Telekom came in higher in the First Quarter despite that share price which hasnt moved. It is pretty much the same from the last 12month period. The company did confirm the fullyear guidance. On the other side, bt announcing a fresh Cost Cutting Program as it seeks to slash another 3 billion pounds of expenses by the end of the 2029 fiscal year. The new ceo announced the strategy while confirming a previous costsaving program was achieved a year ahead of schedule. Bt also increased its fullyear dividend by 4 to 8 pence per share. All of that helping investors. They are taking a liking to it at 10. 3 higher. A torrid 12 months for the company. Lets head to the arirairli. Easy jet ceo will be replaced early next year. The move comes as the airline notched a halfyear pretax loss of 350 Million Pounds which was worse than rojected. Easy jet is lagging ryanair. Heres how they will close that gap. They recovered earlier as well in the pandemic. There is no doubt ryanair is a competitor. If you look at the asset and multiple pe, you know, it is the second best in europe. We had a record summer. We are looking to build upon that. We came through the winter and by the time we had the close, it was better than the market expected. We set out an ambitious target to deliver 7 to 10 pournds profit. We are getting to those levels and we will be one of the top p performing airlines in the world. We transformed the business and the result is coming through in the last 12to18 months. Dutch firm aegon has reported Free Cash Flow of 14 million euro for the First Quarter and on track for the fullyear guidance. That stock is up 1 . Zurich insurance posted a 12 jump in the property and Casualty Insurance with the First Quarter results coming in at 10 billion. The same time swiss re posted 1. 1 billion in the First Quarter. That is better than expected driven by strong investment income. That stock is highest at 4 to the good. Coming up on the show, israel Prime MinisterBenjamin Netanyahu vowing to push ahead with the offensive on gaza. We will bring you that interview next. Switch to shopify and sell smarter at every stage of your business. Take full control of your brand with your own custom store. Scale faster with tools that let you manage every sale from every channel. And sell more with the best converting checkout on the planet. A lot more. Take your business to the next stage when you switch to shopify. What is cirkul . Cirkul is the fuel you need to take flight. Cirkul is your frosted treat with a sweet kick of confidence. Cirkul is the energy that gets you to the next level. Cirkul is what you hope for when life tosses lemons your way. Cirkul is your gateway back home. So what is cirkul . Its your water, your way. Cirkul, available at walmart and drinkcirkul. Com. Hi. Im Wolfgang Puck when i started my online store Wolfgang Puck home i knew there would be a lot of orders to fill and i wanted them to ship out fast thats why i chose Shipstation Shipstation helps manage orders reduce shipping costs and print out shipping labels its my secret ingredient shipstation the number 1 choice of Online Sellers and Wolfgang Puck go to shipstation. Com tv and get 2 months free welcome to street signs. Im Arabile Gumede and these are your headlines. Europes majors struggling to sustain the rally after softer than expected u. S. Inflation data sees all three majors close at record levels. Siemens with the First Quarter record close as the company con tfirms the outlook Ceo Roland Busch speaks to cnbc. There is uncertainty in the market. The export is not picking up well because the Global Economy is not that strong. The ecb saying risks in the euro area has eased, but geopolitical policy has increased in tensions. And israeli Prime MinisterBenjamin Netanyahu talks to cnbc. We have a disagreement on gaza, rather on rafah. We have to do what we have to do. Sometimes you have to do what is required to ensure your survival in your country. Records were tumbling yesterday out of europe and the United States and positivity this morning from asia. We will get into that. Unable to sustain that rally is what you are getting today. N yesterday, the stoxx 600 notched nine of ten days with the market picture. Today, you see that fall off. Ftse 100 down. 30 . The inflation print from the United States yesterday was softer than anticipated and pushed the market higher. That doesnt seem to have worked in europe with the earnings picture more than anything else. You have seen numbers from siemens. That drop off in sales there. Easy jet reported numbers. You have the likes of bt with the profits fall onethird last year. You have the Insurance Companies reporting. That mixed earnings picture has been at play here. Thats what has shifted things negatively for most of the market picture. We will get into the weeds of what is moving things along across the day. Asia managing to find positivity from the wall street record high. Significant gains. The nikkei 225 head back toward 39,000 points. It gained 500 points postlunch in the asian market sector. S you see the shenzhen move slightly higher at onethird to the good. So, too, the australian market. I was speaking about the Property Companies in china. Shares of the property dev developers surging in honk honk on hopes that the Chinese State entities are buying up excess housing all in a bid to support a key part, of course, of the countrys economy. That being that property sector which has continued to languish since the financial crisis and since 2020. Officials in four cities have said they will purchase housing from the private sector to use as housing. You see a lot of gains across the double digits. Up 30 . Nearly 50 to the good just in todays trading. Lets head to the currencies and you had seen a sense of stability come to the market postcpi print. Now you are seeing weakness for the others with the strength coming through for the dollar, particularly against the euro, as you see on that front. Yesterday, it did nurse a few losses with the dollar. The losingses with the japanesen at 155. 166 is the mark for the pound v versus the dollar. You have the data dump expected from the weekly jobless claims to help things along. We had retail sales come out yesterday which was flat. Perhaps momentum is easing up from the consumer. Walmart and under armour and baidu will report today. And israeli Prime MinisterBenjamin Netanyahu has said he and u. S. President joe biden are at odds over the operation in rafah. He has vowed to push ahead regardless. This is on the back of the reports that the Biden Administration will send a new package of more than 1 billion in arms and ammunitions to israel amid congressional pressure. Although netanyahu declined to confirm those reports. Speaking to sara eisen in jerusalem, netanyahu ruled out the twostate solution with the territories. Saying such a move would play into hamas p hhands. I appreciate the United States support here. We have a disagreement on rafah. We have to do what we have to do. Sometimes, you have to do what is required to ensure your survival and future. We cannot continue into the future by having hamas retake gaza. It would not only be a tremendous victory for hamas, but the iran terrorists. Iran is trying to envelope up with the noose. That victory is a victory against iran and the victory for the arab states. Not openly, but one where their future is involved with the victory with hamas. We are doing what we are doing. I hope we can see eyetoeye with the United States. We are talking with them. We hope to do what we need to do to protect our nation and protect savagery being committed again. Can you talk about the twostate solution . The twostate solution would be the greatest reward for the terrorists. 80 of palestinians in gaza and in the west bank support the savagery. Giving them a state would be a tremendous reward. Historic precedent of giving those people who committed the worst massacre against the jewish people since the hole c holocaust in a single the day. It would be taken over by hamas and iran. It would not advance the purposes of peace. It would be a launching around for the war against israel. Thats not in the works and most israelis would say dont do that. An agreement has been reached to support the netherlands most rightwing government in decades following months of negotiations. A decision is yet to be made on the next Prime Minister. A position that has forfeited to help secure the deal. Slovakias Prime Minister is no longer in a lifethreatening condition after an apparent assassination attempt. The countrys deputy Prime Minister has said. He was shot at five times when leaving a government meeting yesterday initially leaving them in critical condition. Silvia is joining us at the desk for more on this. Silvia, a man who is a stalwart in slovakia as a country. It is really an important situation here that i suppose the solutions will be difficult to find for the country. First, let me share what we know at this stage. There are a few new comments on the developing situation on the health of the Prime Minister. The defense minister that said the condition is now stable and the Prime Minister had multiple gunshot wounds. His condition is stable, although serious. That comment is from the head of the hospital. The surgery that the Prime Minister undertook lasted five hours. We know he was walking in the crowd in central slovakia when he was shot. An alleged attacker was detained by the police, but the details of that attacker remain very scarce. We also have questions about the intent or motive behind this move. All in all, it is worth taking a step back and understand the political context here because this is coming at a time of incr increased polarization in slovakia and europe. We are seeing different kinds of attacks on germany politicians for example these days. This is a trend that is important to address. When it comes to this Prime Minister, he has been Prime Minister since last year. This is the third time he serves as Prime Minister of slovakia. He is seen as a prorussian poli politician. He said when returning to power, he wants to restore ties to moscow. He is seen as a populist leader as well. This is a shocking development. Several heads of state within the eu made comments about this. They are saying they wish a fast recovery to the Prime Minister. On your screen, you are seeing comments from ursula von der le leyen. And viktor orban said he is deeply shocked by the story. This has been a surprise in slovakia and across the eu, arabile. It is one that we will unpack more. Stay with us as we unpack it. Russian president Vladimir Putin and chinese president xi jinping have signed an agreement on the two states. Putin said the nations are developing Peaceful Nuclear cooperation and thanked china for its efforts to resolve the ukraine crisis. The russian leader did praise the partnership at the joint press conference. Translator we are sincerely interested in seeing the russianchinese actions in all areas of cooperation continue to strengthen everywhere. For these purposes, we established close interactions with the heads of government and intergovernmental positions with the deputy Prime Ministers and 80 sub committees and working groups. A multifaceted mechanic has been created. The head of geopolitics is joining us for the conversation as well as silvia still at the desk with us. Anna, i posed a question of what does putin want from whinchina . What else . What more . Alalternatives. We are seeing the sanctions that the west has imposed are showing effect. They will continue to make the war effort more difficult it. The more we are looking at the future and what we are seeing is alternative partners and circumvent sanctions and to say to the global south to say we have friends in the world. We are not as isolated. Yeah. Is this is this also a sentiment to say listen, we know that we may not be as big as china, be we have as big a role to play in the world right now . I think russia would strongly disagree with the geopolitical importance. They are inflefluential in cert parts of the world. When you see the sanction against china and that is likely going to increase with trade friction and export controls and whatever new u. S. Administration we will have, china will also need friends. Thats why they are depending on the russian relationship. The conversation to ukraine and we saw zelenskyy cancel his trips abroad. What is the outlook for ukraine . We got the support from the United States after months of negotiations. You see russia and china meeting up. What is the outlook for ukraine at this stage . Okay. There are a couple of Different Things we need to unpack. When we just look at ukraine, this is a difficult year for ukraine. That was clear from the beginning. We did expect the u. S. Would approve the aid package they got. We will start to see that beginning to make a difference in the frontline in the summer. Also with the new military recruitment law that ukraine just passed. We will see a bit more shoring up on the front in the summer. Thats why you see russia stepping up in the summer on the incursion right now. You will see a heightening of tensions over the summer months. Things will probably get more difficult toward the duration of the year. 2025 can look very different. Why . Firstly, because western weapons manufacturing should come up. Ukraine should have access to more weapons on the one hand. Russia should start to see more problems with sanctions having more of an effect. However, it doesnt mean it will be better for ukraine. We could also see things escalate assuming for kpexample there is a Trump Presidency and saying he will try to end the war tomorrow and go for a ceasefire and putin says no, thank you. Then you see an escalation with the west. You could see a ceasefire next year because trump pushes for one or because there is a little bit of war fatigue setting in ukraine as well or because this could be an attractive front for putin. If you have a ceasefire, it could also see over time, russia actually getting closer again to the u. S. Which could drive a wedge between the china and russia and cozyinging up. A lot of things ahead for 2025. What are the motivations for russia to do that . At this stage, theyre winning, really. The motivation they are not winning. They are making inroads. Clearly, its far away from what they originally wanted which was a quick takeover. Clearly, that is the elephant in the room. Would russia be happy with gaining a little bit more territory and continue to erode the western and world order . That are the two questions russia has to ask at this point in time. However, seeing an end to the war and gaining additional territory and assuming a welcome back into the International Community by u. S. Under donald trump could be a prospect for russia. In a way, they would have their cake and eat it. I want to go to china. I think everything you said, as well, has been so interesting. For china, you also said they need friends and after the tariffs from the u. S. This is a chance to put an offensive of some sort for china and saying you turned your back on us. China and russia are not in alliance. They are in an opportunistic friendship. They are still deeply distrustful of each other. They are pushed closer to the by geopolitical circumstances. They are not yet allies. That is important to keep in mind. China has different interests. For example, they want geopolitical stability. Yes, they want to erode u. S. Power. They want economic stability at home. China has different interests here we have to keep in mind. So many moving parts to the conversation, anna. We would have gone on. I really appreciate the time for unpacking a complex geopolitical situation. Anna rosenberg at amundi joining us here in studio. Coming up, we will discuss the latest Berkshire Hathaway bid as they re vveal the fst arter buy. Bills are crazy. Has no idea shes sitting on a goldmine. Well she doesnt 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 youre sitting on a goldmine. Call Coventry Direct today at the number on your screen, or visit coventrydirect. Com. My name is Ashley Cortez and im the founder of the stay Beautiful Foundation when i started in 2016 i would go to the post office and literally fill out each persons name on a label and now with shipstation we are shipping 500 beauty boxes a month it takes less than 5 minutes for me to get all of my labels and get beauty in the hands of women who are battling cancer so much quicker shipstation the 1 choice of Online Sellers go to shipstation. Com tv and get 2 months free what is cirkul . Cirkul is what you hope for when life tosses lemons your way. Cirkul is your frosted treat with a sweet kick of confidence. Cirkul is the Effortless Energy that gets you in the zone. Cirkul, available at walmart and drinkcirkul. Com. A slow network is no network for business. Thats why more choose comcast business. And now, were introducing ultimate speed for business our fastest plans yet. Were up to 12 times faster than verizon, at t, and tmobile. And existing customers could even get up to triple the speeds. At no additional cost. Its ultimate speed for ultimate business. Dont miss out on our fastest speed plans yet switch to comcast business and get started for 49. 99 a month. Plus, ask how to get up to an 800 prepaid card. Call today we had the latest round of 13 f filings in the United States with Warren Buffetts bertha Berkshire Hathaway confirming that the 6. 6 billion bet is on the insurance grouped chubb. That has driven the share up 10 in the premarket. And alibaba and Starboard Value is sticking to its guns on go daddy. Leslie picker filed this report. Reporter chubb shares spiking after the revelation that berkshire is the long awaited mystery pick in the 13f filing. Berkshire hathaway disclosing that stake of 6. 7 billion at the end of q1 which is 25. 5 million shares. We have been tracking the position in q3 and q4, but the s. E. C. Decided to give the furthfirm a waiver to keep it confidential. We learned the mystery name is chubb and the ninth Biggest Holding for Berkshire Hathaway. Not so interesting is the berkshire stake in paramount. Warren buffett said it did sell the entire stake at a loss. 8 t 88 of that was pared back in the First Quarter. Berkshire sold hp in the First Quarter. Not big by berkshire standards, but noteworthy. Other news is selling 500,000 shares of Building MaterialsLouisiana Pacific corp and 3 million shares of chevron. The filing confirmed estimates from the 10q it reduced the stake in apple by 13 . A whopping 116 million shares. The firm still head 135 billion worth of apple as of the end of march. For cnbc business news, im less leslie picker. Apple is still 41 of the assets held by Berkshire Hathaway. Still a significant portion with the dropoff in how much they hold with regards to that. I want to focus on the overall picture with the 13f filings. If we see a broadening out of the interests of the investors. Hedge funds tondont think ther would be much else. The insurance sector getting a boost with Berkshire Hathaway and chubb. The a. I. Play is moving things a lot in the time. Technology, when it comes to the 13f filings accounted for 28 of the Investors Group portfolios. More than a quarter of their portfolios were weighed down by tech technology. What followed was Consumer Discretionary by 14 . The value of investment in tech managed to increase the most. In a rate sensitive time, real estate went in the other direction. Also interesting in the tech space earlier on, we spoke with charles with how you have to be picky what you invest in as though it is in the big tech players and a. I. Spend. Microsoft was cut or reduced cut or reduced by 252 investors. That is the biggest such number for this while on the other side of the spectrum, aemazon was increased by 232 investors. Microsoft was the overall valuable holding at 266 billion. Thats the picture you are seeing for tech this year. The magnificent seven being picky. The u. S. Futures could be headed higher continuing on from yesterdays rally as you see there. It is marginal. We are awaiting more data to come through later today. Weekly jobless claims. Thank you for joining us on street signs. My name is Arabile Gumede. Worldwide exchange is next. 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 money. 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