Transcripts For CNBC Worldwide Exchange 20240713 : compareme

Transcripts For CNBC Worldwide Exchange 20240713

Exchange. Im Contessa Brewer in for Brian Sullivan the pentagon confirming overnight that general Qassim Soleimani has been killed. The leader of the elite revolutionary guard in a targeted attack at Baghdad Airport. The attack came at the direction of President Trump the major averages are set to open in the red on this news lets take a look at the futures down across the board. The s p 500 indicated to open down 35 points the dow indicated to open down 273 and the nasdaq off by 114. Lets show you this quick Market Reaction we were watching last night off a positive close yesterday just after 8 00, the news came in about that killing of the leader of the Iranian Revolutionary guard. The plummet now again. Dow futures off by almost 1 across the board, we were seeing a swift reaction with the Energy Markets as well. Right now, wti is up crude is up 3. 5 as well look at the chart. What happened as the news came in wti spiked as the news came in just before or just after 8 00 p. M. We saw this up almost 4 , 2 a barrel for wti a Quick Reaction there the risk of trade is in full swing as investors retreat after the stocks hitting the highest level off a percent in a third in currencies we see a big rush for the yen. The safe haven trade again, the timing on this is clear as investors rushed to the yen. We see the dollar off a half of a percent at 1. 08 year Team Coverage around the world, we are following the latest out of washington and from london, we are joined by director of research and chief oil analyst thank you for being with us. First, aemon, lets get to you reporter this Deadly Strike reportedly came just outside of the Baghdad Airport last night just around that 8 00 p. M. Time frame. The head of the quds force Qassim Soleimani was killed in this strike. Surprisingly he was in baghdad physically at the time of the strike and perhaps not surprisingly, the United States had intelligence clearly on where he was and was able to target him who is Qasem Soleimani and his role he led the special forces group, the subdivision of the Iranian Revolutionary guard. It has a terrorism december sig. He approved attacks on u. S. Embassy in baghdad in addition to a long history in the region including in syria and throughout the middle east soleimani was involved in planning attacks against u. S. Service members throughout the course of the iraq war and was a very dangerous foe for americans fighting in baghdad and surrounding region here is a statement as you mentioned from the Defense Department saying at the direction of the president , the u. S. Military has taken decisive defensive action to protect the u. S. By killing soleimani the head of the quds force now, the question is, what will the iranian response to this be . And what has President Trump planned in response to that . The question is whether this is significant escalation defense secretary has said the game has changed there would be preemptive attacks if the u. S. Learned they are planning attacks against america or american targets around the world are you learning how the u. S. Is hardening its facilities preparing for an escalation of tension . We dont know specifically but the state department has sent americans on alert. Nbc news has spoken to officials in new york and los angeles. No specific information here on the hardening of targets inside the United States. Clearly, American Forces worldwide are in a heightened state today in the wake of this attack we dont know at this point. We have no statement yet from President Trump other than he tweeted out the image of the american flag. Well wait and see what the white house said about why it took this action and what it expects to happen next he was at an event and said he doesnt want a war with iran. He wants peace is he likely to get support of congress throughout the day today . Weve seen divided action weve seen statements for and against this action by the president from various members of congress. Youll see his party certainly line up firmly behind the president. There is some skepticism from democratic members of congress who have issued statements saying that they are worried they would release a statement that the president didnt think this all the way through and that this will lead to a wider hot war rather than just the proxy war unfold in iran and iraq and especially syria. The question here is politically for the president , will he be able to garner the majorityof american support and how does all of that play out in a time it comes at the time the president has been impeach and is facing impeachment trial in the senate thank you for setting the scene on a very sobering friday. Lets get another check on Oil Prices Today wti and brent spike as much as 4 on the news of the u. S. Air strike that killed irans top general. They have retreated just a bit wti now higher ice brent crude up three and three quarters thank you for being with us today, set the scene on what we can expect to see in the oil sector i think the key over here is the markets reacted. It has been a knee jerk reaction everybody has been asking the question how does iran retaliate. Youve seen prices jump 3 , 4 you dont expect iran to retaliate. They are not wreckless there will be a huge urge to do something. They are going to plan this and they are going to take some time if you dont see anything instant anious, the market might give up the gains by the end of today or potentially even on monday for us, it is a very big deal. Weve seen when the attacks of up tick happened as well this market is extremely skpl complacent it is a very, very tight market. The general message or view is that all of the market is the world unless it sees an actual outage last. Im not sure it will sustain this rally yet once you stop to see the reaction, the real risk is in iraq and how it unfolds. Those prices will go back up again. Creating concern about the supply of certain types of crude. I would think there would be concerns not just on irans supplies but those surrounding neighbors as well if the neighbors are drawn into a conflict 100 . The sanctions have crippled the iranian exports down to 400,000 barrels a day. Those will continue through smuggling and chinese still buying some oil. Thats not going to stop the real risk is how does iran retaliate. Weve seen what it can do. Does it do similar stuff again is there another attack on saudi facilities sorry, i have this cold. Or we will see in iraq remember, iraq does export 3. 5 billion barrels from the south. That, i think, is the biggest risk for the market right now. If it gets really sectarian in iraq, that is where the risk is. It will get very messi there is a lot of oil at risk. Thank you so much go have a glass of water for us. When we come back, well have more on the global Market Reaction to the overnight u. S. Air strike that killed one of the top military commanders. It has been called International Terrorism by irans foreign minister sectors you need to watch this morning. Stocks look to take a sharp turn lower. Lower. And latepark city,c croft is telling her investors er through the airport. 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We had a strong start to the year with all of the majors up in the green yesterday today, trading very Much Negative down 0. 8 percentage point. Ftse 100 in the uk has dipped below 7,600. Down 26 points, 0. 3 Percentage Points a bit of green that is not apparent here. We see some of the oil majors like bp leading. Some of the oil stocks there set to gain. Very strong declines today down 1. 5 with some of the big names in industrial space. Airlines trading down 200 points after being up yesterday with the index and the decline we are seeing in asia anticipated in the u. S. Futures. Cac in france is down. Some of the big names there, industrials leading some of the losses the italian index tends to be a more cyclical prospect seeing declines and telling you today people are moving outof th cyclicals and back to safe haven territory. We saw the impact of the news was especially felt in the travel and leisure sector. Yes absolutely looking at the dax, that is down lufthansa is down 7. 5 Percentage Points today even at the bottom easy jet is down that makes a lot of sense on a day when oil is up anything from 3 that any airlines or any company that uses oil as a main cost or raw material would be trading inversely and down on the news so airlines have been taking it heavy in europe and on a major sector here. All sectors have been trading in the red. Up at the top, only oil is trading in positive territory thank you for the update from europe as we head to break, take a look at other stories we are keeping an eye on this morning tess lue is cutting the starting price for the chinamade model that stock off in the premarket by 1. 5 . The turkish owner of the private jet that carlos ghosn used to escape japan has filed a criminal complaint one employee has admitted to falsifying flight records and says he acted alone. 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Frances rivera has more news for us we start with the deadly fire crisis in australia that rages on authorities have declared a state of emergency in the state of New South Wales the fire has killed at least 17 people and scorched millions of acres. Firefighters from the u. S. Have joined in the fighting Trump Administration rolls out a partal pan that falls short of the entire ban. A warning that teens will simply switch to flavored ecigs still allowed. This comes after congress raised the age to 21. Female directors break records. Up from 8 last year those are your headlines for a friday morning thank you for that still to come, the latest on the u. S. Air strike. The Market Reaction. How that attack could shift the balancof pere ow in the region more as we return. Businesses that spend more time picking the right partner will reap the rewards. At ram commercial, we consider every detail for our promaster and promaster city work vans. 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The dow off by 276 points, almost a percent and the nasdaq off by a percent and a third down 116 points. Weve seen the swift reaction across Energy Markets as well. Oil prices have come off the highs, they have popped up 4 on this news now. As you can see now back up to where they were up more than 4 . Crude is up more than four and a third percent. Investors are retreating from stocks now spot gold at the highest level look what happened when that news came in we were seeing that pop up as the safe haven places come into play here. We have Team Coverage this morning from los angeles, seema joins me on set alongside the head of product direction. Hadley, lets begin with you in the middle east. Weve seen the strike and assassination of the man who lead attacks against the u. S hezbollah, a group he trained and backed and brought into saria as well. He was backing and training the forces in syria. Iran known for using proxies to attack not just americans but other frankly, the allies of america. And antiiranian folks across the region we are talking about what happens in saudi arabia and the uae and elsewhere. All of this in the bigger question for the United States and allies in the gulf region which is what will be the retaliation here we are not talking about if iran will strike but how and when they mean to do that there are a lot of options on the table because of the reach we have seen forming the last several years from tehran to damascus and beirut as well. We are tacking attacks on u. S. Military install operations, u. S. Embassy they have said to u. S. Citizens getting out of iraq whether it be taking the last flights out or moving across land to gets out. And we have Heard International Oil Companies asking American Employees to leave as well this is something they are taking seriously and could have broader ramifications. We are not just talking about the possibility of iran retaliating, we are talking about what could happen in reporting the strait of hormuz. We were talking about just how they expected iran to retaliate, if is that was something they were going to do they said the possibilities are mining the persian gulf. How they would detect and disable those mines. A headtohead war between iran and the United States not as likely as a retaliatory gesture and one wonders how difficult that could make things for President Trump. Moves to shore up this installation not just in iraq but elsewhere in the middle east no doubt about it, when we take a look at what we have seen across the map and several instances when we have seen the response on tankers and at the facilities thousands of troops moving in to protect saudi oil supplies and supplies to asia at the same time, the u. S. Administration to pull troops outside of afghanistan and move away from foreign wars this was a president as you know was elected on the basis in many wa ways bringing america back from foreign wars we have seen the president tying in every which way possible to bring in american soldiers at risk through the gulf and talking about the satellite where they were downing the drone. He made that last minute decision to pull back and not put american troops in harms way. It seems the president doesnt want to get further engaged in the region and at the same point, he wants to continue to enforce this maximum pressure. What we have seen here is maximum pressure at work thank you for following the situation in the middle east lets turn to seema now. It is great to see you today lets talk about the

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