Transcripts For CNBC Worldwide Exchange 20240713 : vimarsana

CNBC Worldwide Exchange July 13, 2024

Countrys First Federal trial over the Opioid Epidemic this monday, october 21st, Worldwide Exchange begins right now. Good morning, good afternoon or good evening and welcome from wherefore in the world that you may be watching im Brian Sullivan thanks for joining us here on Worldwide Exchange. Your chart of the day really maybe chart of the year and perhaps the one stock that everybody will be talking about and certainly is boeing. Investors losing a lot of money on friday. That stock down nearly 7 and taking the dow 170 points down with it. A rash of headlines and breaking news this morning as well as over the weekend, were going to break it all down for you. We have phil lebeau coming up live in just a couple minutes. But first, on a macrolevel you better get ready because this is a monster earnings week. Hundreds of the Biggest Companies in america set to show off their numbers and maybe this is finally the thing we need to look past things like trade fights and brexit as your driver for stocks, at least for right now. Nearly half of the dow will report their numbers this week, there are some of the names and ahead of it, futures, well, they are mildly higher. Not a big jump were seeing dow futures up 53 points right now thats something to watch coming off of friday where boeing was the big story. Now the dow of course is the big companies. But last week was actually quietly a pretty good one for the little guys. Small caps ridesing 1. 5 last week the russell 2 now, and s p small cap both up about 1. 5 bonds are holding relatively steady yields may be creeping up just a bit. The benchmark ten year at 1. 78 . Lets go around the world now and asia, china flat in hong kong and in japan, the nikkei 225 up again and Pay Attention, the nikkei actually up about 5 in just the last 90 days that is something you want to watch despite september exports for that country falling 5 over last year. Meantime, in europe, its a mixed trade. Mostly fat trade not seeing a whole lot going on. Maybe mildly higher. Look at this the ftse 900 up 9, 100th of. Uk, we begin this morning, uk Prime Minister Boris Johnson failing yet again to sell his brexit deal. So, lets find out exactly where we stand with just ten days to go until a hard brexit is triggered. Steve sedge wick with more steve . Reporter brian, i owe you and your viewers a massive apology because every single time i tell them were getting to the crunch of this, were getting to the key point, it just gets elongated. So big sorry to everyone on Worldwide Exchange. I thought saturday would be a key day. What happened . They didnt have the meaningful vote because there was an amendment beforehand from a former conservative Party Minister who basically said, look, really we dont trust you. We need you to have this extension and then potentially well back your deal thats pretty much what happened so we didnt get the meaningful vote spin forward to what it means it means grudgingly the british Prime Minister didnt sign it saying parliament wants me to send this. Im not sending it it was like a teenage child. Then he sent one on top of that which he did sign saying, look, dond, im sorry about this its bad for europe and bad for the uk what does it mean . It means theres potentially not going to be approval from mps why wont they approve it . Because they dont trust in the background there isnt something to get a no deal brexit as you say is looming around about ten days time. He sent his extension letter whats going to happen next . Well, its all based in Parliament Rather than brussels for now. Potentially hell have his vote again today although its undoubtedly. Tomorrow, i promise you tomorrow there could well be a key vote on the whole process its going to be called a withdrawal agreement, implementation bill. There you go, thats what your viewers want to hear. Boris johnson requested that extension. Steve, do we need any word or have we gotten any word from the European Union on this no. Let me make this clear the European Union is going like this, just tapping their fingers, waiting for the brits to do something. We dont get it. We dont want to react yet because we want to see whats happening in westminster if they agree to the extension and proves not necessary as well, then they kind of did it unnecessarily. They want to see if Boris Johnson tomorrow and i promise you something will happen tomorrow, if Boris Johnson tomorrow can get this implementation bill through, if he gets the numbers like his foreign secretary says hes got, then hell try to push for another bill through parliament. Very quickly saying im in control of the parliamentary agenda and try to get this done with the queens assent. They may not need the extension. In the meantime, mr. Macron, merkel will just say yeah we got the letter but frankly were not going to do anything about it because we want to see what your bonkers politicians in london will be doing. At the moment theyre just holding fire. Holding fire. By the way, steve, no apology necessary because you and 1,000 other people have found this a difficult subject to follow, steve. Always a pleasure, my friend no apology necessary. All right. So how does whats happening over there matter to your money and investments over here . Joining us now is daniel morris, he is Senior Investment strategist daniel, what is your firms base case on how this whole brexit thing ult plaimately plays out whats going to happen from it i dont know if anyone really has base cases anymore you lay out some of the scenarios, try to put some probabilities on it, but whats abit astounding after everything we have gone through and what happened over the weekend, all the different scenarios for the outcome from brexit, you have a hard brexit, you have the uk having the second referendum so the whole thing gets reversed to different versions of the deals that we had proposed so far from Boris Johnson to theresa may, all though options are still possible and will depend on what happens in parliament this week. No one really is going to hazard a guess as to what might actually take place. All i can say is uncertainty frankly has not diminished. So is it flip a coin . How much uncertainty, daniel, is there . If no one knows whats going to happen, how do we know what to do well, you can look at how sterling is eacting, which so sfar still seems to be pricing lower hard probability, were now above 1340 to the there is more optimism we do agree that the odds of a hard brexit have fanl, but within the outcome beyond that is where it becomes quite difficult to hazard any prognosis what kind of deal will end up at the end of this. It seems the probability of a hard brexit has fallen but certainly it still exists. But then there are many other options to the hard brexit that we dont know really which one its going to be yet. Where do we invest . What are some of bnp best investment ideas right now, daniel despite all this and the chaos that seems to be taking place in the uk, we are on the margin overweight risks in general. We do like equities and like credit and do like u. S. Equities though one thing i have to mention you talk about earnings season were in the midst of and a lot of Companies Reporting this week, we have to Pay Attention more necessarily than the actual earnings result is the guidance that we get from companies and the guidance we got last week was not very good. You had 25 Companies Report on thursday and friday and only four of them raised guidance, which is historically very low percentage even if the numbers seem to come in good or well for this quarter, if you have lower guidance through the rest of the year and into next year, the market is going to trade more on that than necessarily on their earnings. Good luck trying to figure this out, daniel when and if you do please let us know and well get you back on Worldwide Exchange. Daniel morris, thank you very much. Well, we are just Getting Started on this very busy monday when we come back, flaring up again and getting even worse how the unrest in hong kong is beginning to take its toll on Global Business and the markets. Plus, while apple looks to dip its toe in the race to dominate 5g, one smart maker is going whole hog. Later the one red hot stock market that almost nobody is talking about, nobody but us that is. It is your rbi and its coming up and were back right after this servicenow put our workflows in the cloud. This changes everything. Youre right sir. Everything. No not everything, i mean youre still blatantly sucking up to me gary. Brilliantly observed, sir. Always three steps ahead. Six steps ahead. Sixteen. So many steps. You done . A million steps ahead. Servicenow. Works for you. Doprevagen is the number oneild mempharmacistrecommendeding . Memory support brand. You can find it in the vitamin aisle in stores everywhere. Prevagen. Healthier brain. Better life. Welcome back and good morning. Its now 5 12. Your big number of the day, i mean, big number, 39. 6 billion. Thats how much money fin tech, Financial Technology companies raised last year according to cb insights we bring you that because that number is up 120 from 2017. Fin tech is one of the hottest spaces for startups and growing companies right now. Executives at huawei say the company is being hurt by u. S. Sanctions and tell the Financial Times that huawei is struggling to replace google apps on its phones saying it will be years before they can develop their own. Company has continued to grow despite the u. S. Export ban with sales up 27 in the past year. Huaweis main rival has big plans for next year. They expect to launch more than 10 5g phones speaking at an internet conversation in china the ceo says the mobile phone industry is worried that 4g models simply wont sell next year, theyre so old. Outside of china, shares of s. A. P. Are higher this morning reporting 28 in Third Quarter profit sas also announcing threeyear deal with microsoft. S. A. P. Is up 1 . On deck, the streaming war, the paper offering some top pix on who is going to come out on top and one of them is very close to home. And later, it is the flight everybody is talking about, what happens when you put 50 people on crew on a boeing 787 dreamliner for 20 hours. Remarkable flight and maabrerkle story you have to hear coming up my gums are irritated. I dont have to worry about that, do i . Harmful bacteria lurk just below the gum line. Crest gum detoxify, voted product of the year. It works below the gum line to neutralize harmful plaque bacteria and help reverse early gum damage. Gum detoxify, from crest. When i lost my sight, my biggest fear was losing my independence. Mmm. Good. So ive spent my life developing technology to help the visually impaired. We are so good. We built a guide that uses ibm watson. To help the blind. 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We begin there because over the weekend, the crisis in hong kong flaring up again protesters clashing with police, even go so far as to set up roadblocks and hurl fire bombs the demonstrations, now in their 20th week, along with slowin growth in Mainland China beginning to take its toll on the markets. Look at the hang seng up fractionally right now but down over 7 over the past 90 days. Lets now get more on the news and another weekend of anger in hong kong nbcs Janis Mackey Frayer joining us live from there reporter brian, we saw the 20th consecutive weekend and each week the protests get increasingly violent and this past weekend a new flash point as protesters were passing by this mosque, Police Water Cannon drove past and sprayed that stinging blue dye they have been using in the Water Cannons to clear protesters, hitting the mosque its been cleaned up now, but there was this real sense and fear among hong kong officials they needed to act quickly to min mieds the damage carrie lam and the police chief coming here today to apologize to the muslim community. There is the sense that among protesters that this is another example of what they call a disregard by police in using harsh tactics to break up protests police have been using tear gas, increasingly using rubber bullets, Water Cannons, firing sponge grenades. Over the weekend, we saw the protesters ramping up their tack tings as well, using what police say is more than 100 fire bombs and targeting businesses, primarily banks, shops and restaurants they see as having links to Mainland China. Is there any end in sight this is now in its 20th week they seem to be ramping up, not scaling back reporter well, the protesters continue to push for these five demands they want protection of broader Political Rights they also are protesting what they see as Police Brutality they want independent inquiries. But overall, there appears to be no Common Ground right now so there is little starting point for negotiation beyond the determination by protesters that theyll continue to come out week after week in order to push through these demands. So 20 weeks in, it does not appear that there is any end in sight to this unrest brian . Janis Mackey Frayer in hong kong, another difficult weekend there. Janice, thank you very much. Well see you soon. Still to come, a federal court taking up the nations first legal battle over the Opioid Epidemic. And later, a wild idea that can make you some bigtime money if youve got a big enough backyard diana ol ek has the scoop on this interesting story when Worldwide Exchange returns whether your beauty routine is 3 steps. Or 57, make natures bounty hair skin and nails step one. Its the number one brand uniquely formulated for silky hair, glowing skin and healthy nails. Natures bounty, because youre better off healthy. My mom washes the dishes. Before she puts them in the dishwasher. So what does the dishwasher do . Cascade platinum does the work for you, prewashing and removing stuckon foods, the first time. Wow, thats clean cascade platinum. Doprevagen is the number oneild mempharmacistrecommendeding . Memory support brand. You can find it in the vitamin aisle in stores everywhere. Prevagen. Healthier brain. Better life. Wthats why xfinity hasu made taking your internetself. And tv with you a breeze. Really . Yup. You can transfer your Service Online in about a minute. You can do that . Yeah. And with twohour Service Appointment windows, its all on your schedule. Awesome. So while moving may still come with its share of headaches. No kidding. Were doing all we can to make moving simple, easy, awesome. Go to xfinity. Com moving to get started. Welcome back and good morning its now 5 22 here on the east coast. Well a tornado in texas and a political storm forces the president to make a change lets get all this mornings headlines outside of the world of money and business, nbcs phillip mena in new york now with those good monday morning, phillip. Good morning to you, brian. Yeah that breaking news coming out of the north texas where a powerful storm has left a trail of destruction a massive tornado was spotted roaring across northern dallas in the lovefield area. It ripped down power lines, plunging tens of thousands of homes into darkness. Power was knocked out to more than 140,000 customers across the state, many buildings have extensive damage including several school which is will be closed today videos across social media showing scenes like this, uprooted trees, crashed cars and homes with their roofs ripped off. One of the two cranes over the collapsed Hard Rock Hotel construction site in new orleans is still on site this morning. A series of controlled explosions sent one crashing to the ground and left the other partially dangling crews hope to now safely recover two bodies which remain at the site President Trump is abandoning plans to hold the upcoming g7 summit at his resort in florida the 180 comes after bipartisan backlash because it could ultimately benefit him financially. Two sources tell nbc news the house was set to vote this week on a resolution condemning the decision to hold the g7 at doral in miami brian, back to you. Phillip mena, have a great day. See you soon. Thanks, you too. When we come back on she show, boeing responding to a former test pilot after he raised concerns over the plane makers grounded 737 max. Plus, you better get ready because this week is a monster one for earnings, but some names matter more than others. We have them for you coming up man can i find an

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