Home prices up 3. 8 year on year. Roadmap begins with a turnaround tuesday. Stocks set to bounceback as markets attempt to recover from the worst drop since 2018. The drug maker shipping the first batch of this Coronavirus Vaccine as the World Health Organization warns the outbreak has the potential to become a pandemic. And the top performer sector just last week losing more than 200 billion in market value yesterday and set to fall again at the open today. As stocks come off, as we said, the worst day in the couple years, the coronavirus numbers continue to climb both in and outside china. Total confirmed cases exceed 80,000. Deaths surpassing 2,700, heading into the session the downd at s and the s p are in negative territory. We have croatia, bahrain added some. The Iranian Deputy Health minister tested positive. You cant read all the headlines theyre coming too quickly. And i think iran and italy are the two that i think people are focused on. But all these others, they always in
Joining us for the entire hour is dan nathan, founder of risk reversal advisers. Welcome back to you. Sara. So theres something youre looking at about the s p 3000 level and fed meetings if you go pack to july 31st, the last time that the fed met, they cut a quarter basis points Interest Rates the first cut in ten years and the stock market was above 3,000. And and it wasnt until the trump tweet the next day that we broke down and stayed down all of augusts here we are now, expectations are for another cut, and it seems like the s p has really paused again at the same level, about 3,000. Weve got lots to discuss with dan, but lets drill down on the big stories were watching today bob pisani is tracking the big reversal leslie picker has details. Mike santoli has a special market dashboard ahead of fedexs earnings which hit after the bell and well have for you here on closing bell. A big day in oil. Oil dropped right after the open on a reuters story that saudis oil output would be full
Today. Were going to preview whether targets results will hit that bulls eye. And later on the show, the Company Still trying to get workers back to the office and a looming reset of billions of dollars in commercial real estate loans, a health check on the sector from one of the biggest players in that market it is wednesday, august 16th, 2023 youre watching Worldwide Exchange right here on cnbc good morning welcome to Worldwide Exchange. Im frank holland. Lets get you ready to start the day. Breaking Economic News at this hour the latest snapshot on the state of the eurozone with Second Quarter flash gdp. Our london newsroom has the numbers. Good morning good morning, frank yes, so the numbers have just been hitting the wire now. This is the second estimate for the Second Quarter gdp coming in at 0. 3 quarter on quarter, in line with the initial estimates. No real surprise there annualized basis, were looking at 0. 6 year on year this tells you the eurozone economy did actually show
Land lines or so and he has co impose go that says a the words follow live is example. And given the price a home for him full of is and could lead to economic causes who they need to also include the size of the sanctions imposed on for the take over the call was, is a do you to the full pop into fronts . Because all that we see happened is from equal was from guides equal was, which puts the french willing force. I mean, serious, you absolutely do not give a damn about the interests of the countries of the global cell. Russia accused is the worst of using who, by turn a to manipulate and into fear in the global south as im off because you and emily says, developing countries off fully pray. So listen to you politics and the india in 5 minutes as Office Confirmed and the render loading will 5 also south africa to attend the upcoming brick summit in person country to elise speculation that he will need. But simply think online the 11 p. M. Here in the russian capital will come wherever
This is office composite, theyre under loading. Will travel to south africa to attend to the upcoming summit in person country to make today some that he will be participating online. The may very well welcome to you from the entire all the International News saying were coming to live from an officer. Thats like going to the top floor. Is this our theres yeah, theres no one to become another. They be a by. So coming to our site into fair and the Political Economic crisis, thats the message coming from the west african countries new to impose mid fi government following a visit to neighboring books, you know, fossa, or during our exchanges. We spoke precisely about the situation because we would not like niger to become a new libya in coordination with our brothers and burkina faso. We have decided to undertake a number of activities to secure our populations and secure our 2 countries. This was a high level delegation of, of immediately conducted by the cards. And i tell you what he d