we begin today with samsung electronics. it s forecasting a likely 96% plunge in first quarter operating profits. in a preliminary earnings report, the world s largest memory chip and tv manufacturer estimated its operating profit fell to $455 million for the first three months of the year. samsung electronics is going to release its full earnings later this month. katie silver sent this report from the bbc s asia business hub in singapore. in its preliminary estimates, samsung says its operating profits fell by about $450 million in the january march period this year, when compared to the same time the previous year. now demand for memory chips ramped up during covid lockdowns as consumers bought new electronics to use at home think new phones, computers, those expensive smart washing machines all of those use a lot of chips. but with fears of an economic recession looming, consumers are buying fewer tech devices, reducing demand for chips and, as a result, the companies
stories this morning. the last jobs report out just this morning. just before the midterms showing the u.s. economy added 261,000 jobs in october. and the economy and inflation major concerns for voters with the elections now just four days away. so far across 46 states, more than 30 million americans have already cast their vote in early voting. this weekend several notable names are hitting the campaign trail. including a joint rally with president biden and former president obama in the crucial state and it is tight there of pennsylvania. former president trump, he ll be in florida. and new this morning, details about trump s own political ambitions for the next election. cnn has learned he s eyeing the third week of november for a 2024 announcement. our reporters and correspondents and analysts standing by to bring you all of the headlines. let s begin with kristin holmes about trump s 2024 plans. talk about what the next election is going to look like? what do we know.
that s what the white house wants to talk about. they believe they delivered. the president is dealing with a decision that was made out of his control. the significant, dramatic cut that was made in output levels by opec. the president, blunt, in his view of that. what s your reaction to the opec decision? disappointment. don t hurt him. is it going to be there s a lot of alternatives. we haven t made up our mind yet. reporter: there s so many different elements of this, the domestic economy, the global economy, the bilateral relationship, the geopolitics in the midst of the war in ukraine, and politics, 30 days out from the election. the white house is working on a series of options that the president may pursue to block major increases at the pump. they are aware this is a global market. a decision made by some countries that the u.s. viewed a s allies or should have been allies leading up to it. the disappointment is real. some rage, to some degree, when you t
also tonight, there s growing frustration inside the biden administration right now, as the kremlin refuses to engage with a u.s. offer to exchange brittney griner and paul weelan for a russian arms dealer. i ll speak with a key white house official john kirby. welcome to our viewers here in the united states and around the world. i m wolf blitzer. you re in the situation room. let s get right to cnn s exclusive new reporting on the u.s. justice department s criminal probe into january 6th. federal prosecutors preparing to fight in court to force former white house officials to testify about their conversations with then president trump. our senior crime and justice reporter kaitlan po lance helped break the story here in the situation room. this could be the clearest sign yet that justice department is honing in on trump s efforts to prevent a peaceful transfer of power. walk us through your exclusive reporting. well, wolfe, evan perez and i are learning from several s
country. i believe in the very soul of this nation. and most of all, i believe in you, the american people. i believe it in my core, there isn t a single thing this country cannot do when we put our mind to it. just remember who we are. we are the united states of america. there s nothing beyond nothing beyond our capacity. that s why so many foreign companies decided to invest making chips in america. billions of dollars. we re the best. we have to believe in ourselves again. and now i m going to take action that i have been looking forward to doing for 18 months. going to sign this inflation reduction act. okay. here we go. it s now law. [ applause ] all right, we have been watching president biden at the white house signing what democrats are calling the inflation reduction act into law. that is sweeping investment in green energies, tax reform, and other measures related to health care. welcome to the lead. i m jake tapper. the $750 billion health care, tax, and c