No one knows them better than dan tillman. Plus, working from home, bitcoin and more. And demand for electric vehicles. We hear from the ceo. We have to get back to the markets. This is the top story of the markets ending the day near the session highs. Stocks tech stocks are ending high. President elect nominate janet yellen to be treasury secretary. So much news on the day. There is more positive news around vaccine. We have this big, cyclical valley. That brings another record high for the small caps. As you are pointing out, it has taken a few years for them to get a record high. Day, hitting the alltime high. The energy index is up. It will be interesting to see what is there and what happens in the future. Some are saying that the excitement around the iphone 12 is priced in and the buyers are stepping away. Nominate is likely to janet yellen, the former fed chair for treasury secretary. The markets took a move up. There was a moment where the s p 500 dipped ever so slightly. The
W business im take ferguson welcome to the show ever since its inception the north stream to pipeline has put a strain on top is the tween the United States and germany the projects now on the brink of completion of runs parallel to the existing north stream one pipeline between russia and germany stretching a total of 1200 kilometers across the baltic sea it will enable russia to supply god to 22000000. 00 households in europe. Washington has long been a critic of the plan arguing that the pipeline makes europe a dangerously dependent on Russian Energy in an effort to hold the project u. S. Lawmakers have imposed sanctions on Companies Involved in the project and move the European Commission says violates International Law all that has left the german seaside 10 of them that on the front lines of the stuff. This ferry from the Danish Island of bornholm could soon be stalled by u. S. Sanctions the ship is destined for muck around port and therefore has business ties with the Port Autho
China, the u. S. Rejecting chinas claims to the South China Sea. China than sanctioning u. S. Officials like ted cruz and marco rubio. U. S. Futures are pointing higher. We are also looking at what is going on with the virus as well as states like california reversing its reopening plans. U. S. Tenyear year, bonds up. U. S. Tenyear. We saw the dollar gaining a bit of steam against the yen, but seems like we are reversing some of that. Lets look at the boards and watch were Chinese Markets are going to see any reaction to the trade figures. We saw a bit of a pause in the risk rally when it comes to mainland equities, after we are seeing equities inching toward that 10 trillion milestone. Flip the boards and see what is going on there. Smallcap, those rose to follow five year highs. We have basically been flat the last 30 minutes of trade. Shenzhen stocks have been on fire. Hang seng down 184 points right now. Also with the city introducing the toughest virus measures since the pandemic
Of the markets. We will break it down with tiffany mcgee. Plus an exclusive interview with the ceo of halliburton, jeff miller. With oil prices around 40. Guy lets talk about the data. The data was grim. Worse than anticipated. As gdp data was bad but not bad as anticipated. The real story for me today is the claims number. Higher and looking fairly sticky. Now. Mckee joining us point out the highlights. Ofwe basically had two sets numbers. One that told us where we were and one that told us we may be going back there again. When you look at the gdp numbers, the number the u. S. Uses is 32. 9 . The entire last for year, we would be down 2. 9 . 32. 9 . 10 quarter over quarter. That compares with germanys 10. 1 , the u. S. Is 1 10 of a percent better. It shows the u. S. Global economy is in a lot of trouble. Where did it go wrong . Personal consumption was down 34. 6 percent. This was an annualized number. ,usiness investment nonresidential, down 27 . In all across the board terms of gdp
Faster Consumer Recovery and it is monday, june 1st youre watching Worldwide Exchange right here on cnbc good morning, good afternoon, good evening, welcome from wherever in the world you may be watching us i am Brian Sullivan. Thank you for joining us on an important day on cnbc. We begin our coverage this monday, as we always do, focusing on markets, economies and global business. That is our business here on cnbc and this morning, in a new month, we find those things are at the crossroads of four very important events number one, the planned reopening of the American Economy and whether that is now at risk. Two, both peaceful protests and riots in nearly every major city in the country three, rising tension between the United States and china. And, four, 40 million americans currently out of a job and hoping for a recovery that puts them back to work. Throughout this hour and the entire business day, you will hear commentary and analysis from investors, money managers, executives an