craig melvin: that's all for this edition of dateline. i'm craig melvin. thank you for watching. welcome to "street signs." i'm arabile gumede, and these are your headlines this morning. donald trump dominating the republican race on tuesday, nbc news projecting that the former u.s. president win 14/of the 15 states, holding votes. >> they call it super tuesday for a reason this is a big one. and they tell me the pundits and otherwise, that there's never been one like this

there's never been anything so conclusive this was an amazing night. european equities finding their footing, recovering earlier losses while u.s. futures turn positive as investors await the first day of fed chair's policy on capitol hill. and morgan stanley raises its outlook on the stock but grif ols winds slower and a downgrade watch from moodys. >> reporter: and it's bunt day in the uk. jeremy walks a tightrope as personal cuts dominate the ag agenda we'll bring you his speech live at 12:30 gmt

a warm welcome to "street signs. let's lead off with our top story this hour. nbc news projecting that former president donald trump has won 14 of the 15 republican super tuesday races with rival nikki haley taking victory in one state. that's 157 delegates that's 150 short of the number required to clinch the nomination nikki haley lags well behind with just 92 now, speaking in florida as the results rolled in, trump said he expected his victory to bring harmony. >> all of the problems you have today, i don't think you would have had any of them, you would have only had success. that's what's ultimately going to unify this country and unify this party we have a great republican party with tremendous talent and we want to have unity, and we're going to have unity, and it's going to happen very quickly

i've been saying lately success will bring unity to our country. >> while the u.s. tried to bring a breather yesterday, there was a slight breather across europe, but that's faded now somewhat. you're actually seeing positive movement for the stoxx 600 having hit record highs as well, now managing to gabe again, a quarter of a percent to the good you can see over a three-month basis. it's been a rule shoot up for the stoxx 600 and it's been fairly positive. the interest rate outlook is the one to look out for. the inflation environment has made deadlines a lot of movement has been made with the entities trying to move higher, not necessarily in step with the united states but certainly finding their own grind to a little bit higher the european markets had been lower. all eyes of course on the ecb meeting tomorrow, and while the

market does anticipate they will hold interest rates and keep them steady, the question marks are on the interest rate future and what that outlook kind of looks like at this stage pretty much in line with the broader market are these upticks, the cac 40 moving back toward 8,000 points and is what we're seeing xetra dax, 2 cents to the good that one, of course, there are a couple of sectors moving very, very positive this morning yesterday we were looking at the mining stocks. today we're seeinging real esta imagining to move up the chemicals enjoying positively, a 1% kban, really the top four of the gainers in the stoxx 600. toward the bottom, you see the median stocks lose significantly. health care taking another dip for this week with construction as well as industrials at the bottom ofhe stoxx 600.

that's going to be quite interesting to look at does the tax cut really come into play and where else will jeremy hunt look toward then when it comes to trying to shore up one political woe and greater political enticement for voters, plus, of course, trying to remain politically responsible as well. that will play into the market you're seeing a flat stance from the pond to the u.s. dollar. 1.2776 la later silvia will be here later to unpack that. it looks like a rebound could with in play for the u.s. market it looks like we might be heading for positivity today with the tech counters finding

some sense of a rebound. we'll unpack all of that a little later as well. fed sanctuary jerome powell is heading to capitol hill today for two days of semiannual testimony before congress. powell is expected to present his case particularly on why the central bank is in in in no rust cut inflation. thank you so much for the time then are you surprised at all but the market's pullback yesterday? >> not essentially surprised i think regarding equities in general we're quite optimistic at the moment. in the short to medium term, we're quite positive that's pointed by fundamentals across the board we have different moves by

developed markets and equities in emerging markets. i think that's really because the rate cutting cycle is getting ahead in the emerging market, so that's really reaping the benefits there. >> and what does it mean then to see perhaps a slight fall-off in the rate outlook then across the more developed world we had initially seen the expectation of around six rate cuts around the united states. that's fallen off to three of course, the fed initially said that. but we're seeing that one could be enough this year. >> yes, so they're being more cautious on the soizize and timg of race cuts but inflation is coming under control. rates are, we expect, to be cut in the short term. the number of rate cuts, i think, will be less impactful if

it's more or less affecting travel >> what would be the downturn if that were to be the case would that be a downturn that's really the point where you could jump in again. >> markets have led a strong rally the last couple of months so valuations are quite stretched particularly in the u.s., but that could continue. looking at tech stocks, all performing really, really strongly the fundamentals are there corporate earnings are strong. so developed market, the growth market is a bit softer, but overall we are quite positive on equities. >> do you see a sense of selectivism coming through with the tech players not just in

europe but around the world when one looks at what has been shifting markets do you think a little more selectivism comes into play now? >> potentially as i said, really, it's tag, anything ai-related, that's what's driving returns an element is trend but the dynamics happening in market we like diversified portfolios we like growth stocks and the more defensive stocks, so i think that's the key part to getting stable equity returns is having a diversified approach. >> i'm wondering what jerome powell will stay on capitol hill today or is it much of the same, do you suspect >> i think it's much the same. i think given inflation is coming under control, we do expect those rates to start coming down, maybe not in the next month or so, but it will happen later this year, we

expect. >> if we zone in a little bit on europe, if i may, as a final question, which sector sort of appeals most to you at this stage? is it some of those lenders? industrials at play as well? when i look at it? it seems too broad-based that it's a sector that outgrows at best. >> utilities with rates higher, they have struggled. again, tact looking strong, consumer discretionaries, but, again, a broad-based approach would be the preference both in u.s. and europe. >> eimear, thank you so much here to unpack this market movement. let's shift to china's central bank speaking at the npc in beijing,

he said it won't promote a minor rebound in the consumer prices and keep the yuan quite stable. we look at the tui shares higher today this comes after morgan stanley upgraded the stock to overweight from equal weight and raised its target price at the same time and really with regard to that one, you see it shift into 188 so it will be interesting to look out for that one. also then, meanwhile, shares of grifol slunk after a new report and a move by moodys that put a rating for its stock on view for a potential downgrade that stock down in double

digits, 12.5%. and dhl has guarded its stock it's down 25% on the year and will ramp up its share buyback program by 1 million euros while extending it now, ceo tobias mayer told cnbc why it did not approve. >> this is really the main component on our net position as well it's to increasing the amount, which isn't a bad thing because we have a growing business in the u.s. our supply business very successful there, also coming in with good momentum not concerned with that at all

i think the house is very well in order we keep high equity ratio to around 34% so we will have the firing power for bigger m & n, but we choose capital as wisely as we can. we want to earn good returns for the capital's shareholders we're very much interested in e-commerce space there will be others interested with us, but as the dhh group we have better ways to declare capital for our shareholders. let's move over to british life who posted generating profits of 1.67 billion pounds in 2023. it with us broadly flat on the year but short of expectations from what it said was a challenging environment. it said it's on track to reach its five-year ambitions, however, with record new business volumes, that stock

price down more than 3% in this early morning trade. now, a group of investors including blackstone and thompson reuters will off-load a 4% stake in the london group the shares will be worth just under 2 billion pounds as part of the traction then lseg will buy back 4 million pounds lseg is up 23% on the year. dermatology company galderma will list in switzerland aiming to raise around $2.3 billion speaking to cnbc, the ceo outlined why the group wants to go public now.

we have two energetic pipelines. we will have two purposes that the ipo will pay down debt, strengthen the balance sheet significantly, and be able to fund the product that will have potential. coming up on the show, we'll take a closer look at commodities as gold surges to record levels and so does another, which could impact the price of your favorite chocolate, however stay with us we'll be back.

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saysretail mad progress. >> the upstream supply chain in-stores, the team's really focused on managing costs, and we did see sequential improvement from the second quarter to the third quarter and fourth quarter, really improvement by traffic. nordstrom moved lower. topping analysts' expectations for fourth quarter sales but issued a weaker forecast for the year ahead it guided a four-year revenue in a range from the 2% decline to a 1% gain compared to the previous year adding that fourth quarter results should be near break even or slight loss. on to cryptos, bitcoin briefly touching a new all-time high of 69,000 overnight before pairing back some of the gains, gaining by what looks like 8% particularly during asian

trading and inching closer to another record high. it's been on a meteoric rally this year, up nearly 50% since late january questions will be asked then, how much of this is just a fomo trade then i mean it's up 73 million percent if you take a look at that price from july 10th. so very interesting data to look at there. onto the commodity space then, gold prices are steady today. that's after hitting a record peak in the previous session the sentiment-driven rally await key testimony from fed chair jerome powell that happens on capitol hill that price then, as you can tell there, easing off slightly from that all-time high of $2,141. cocoa prices, well, they're scaling back after touching record-highs in the past week amid concerns over supply shortages. the cocoa market is grappling with production shortfalls

particularly in west africa with the el nino weather patterns we spoke to the ceo of nestle and he told nbc there were still price pressures. >> we have seen food price inflation come down somewhat already, not too low prepandemic. i see a more nuanced figure going forward, new troppiness. historic highs think about cocoa, robust coffee, and sugar, moderating somewhat i think some review which is lower but not back to the preinflation levels, i think that's a fair summary. >> paul jones is here to unpack the cocoa story a little more among the commodities space. thanks so much for the time.

i appreciate it. let me put down the lay of the land as i have in that story prices at an all-time high in london the prices are 100% year on year plus/minus, 50% up in february. highest uptick since november 2021 up 71% last year, up 50% from year to date and then comes out of it the 2023 projections, 20% below target why has demand not eased whelp prices are so high in this sector >> it's really an interesting question typically what would happen, you'd expect to see some demand destruction when you have prices like this that are astr astronomically high prices we're not seeing that with cocoa. what we'll see in 2023, they were down 4.3, 4.5%. i don't think you can call that mass production.

we don't see it have the same dynamic command as others. they still have factories that i have to operate. i do expect to see some demand destruction, but at the moment, the supply and demand picture is very, very tight. >> what would cause that demand destruction? is it the higher prices or the case that there's too much in the market and there might even be somewhat of a surge if farmers perhaps kept back a few of their cocoa beans because they expect prices to head higher could that also come into play >> potentially that could be an issue. what we see with the two largest producers like ivory coast, we see a fixed farm gait price. in this case it hasn't been set

high enough. you could say, well, the producers aren't being incentivized enough right now toll increase production so potentially what we could see is when we have the farm gate price readjusted to late this year, we could see hoarding and see more supply coming, but that's a long way away the market is still very, very tight. it's been tight for three seasons. i think the market will stay high and prices will reflect that for a few years. >> the story we've unpacked is really about the farm gate prices and what's happening out of africa. how much of a european tariff story is in play >> i think the most interesting thing there is potentially euvo. we know they'll be safe from this, but going forward there's a lot of confusion about

potentially what that may mean for import, whether cocoa will be allowed to enter the block. at the moment there's a lot of unknowns and it talks about tariffs as well. so certainly that's a concern. >> does that impact the price on euvr does that mean the price goes even higher from these levels? this is just the beginning of those record-highs. >> i would argue it's certainly adding to the panic. there's concern in 2024, how the industry is going to adjust to it, whether it will be able to do it before the deadline. but i think the real driver is the ma i superior major production issues and systemic issues which will likely continue for the next seasons to come. >> still among the top commodities, we've seen that as well having spiked up to, i think, 2022 levels as well that

you've seen. those were record levels then. what exactly is happening in the market >> it's really interesting so what we're seeing is the grains sector. we're seeing prices reduced. cocoa, coffee, we're seeing prices rise up we're seeing speculators and managed money. part of the reason we're seeing that is because supply is improving, so we're seeing a lot of it. we're seeing good grains crops come out of brazil, and we're seeing supply improve and risk easing. >> do you see that continuing to head a lot lower, or do we see a slight pickup here because demand begins to pick up at these lower prices >> so in the short term we don't see many fundamentals. but looking into the latter end of the year, we have more forecasts coming into the year for el nino, which in theic will

i can impact production. it will likely be some support there. and as we move closer to the cost of production, you would expect to see prices find some support there. toward the latter end of the year, we move more neutral, even more bullish. >> we don't talk enough really and one we'll unpack a little more thanks so much for the time. paul jouels is with robank. silvia is on the ground at westminster. silvia. >> reporter: that's right. we'll have more on today's spring budget up next after this break with hannah, senior economist from the resolution foundation stay tuned

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the 15 states. >> they call it super tuesday for a reason this is a big one. and they tell me, the pundits and otherwise, that there's never been one like this, never anything so con cluesish this was an amazing night. european equities finding their footing, recovering earlier losses that's while u.s. futures turn positive as they await the first day of jerome powell's testimony on capitol hill. upgrades and downgrades. tui takes off as morgan stanley raises its outlook on the stock, but grifol grinds lowerer. that's off a report and a downgrade watch from moodys. >> reporter: and it's budget day as jeremy powell walks the tightropes we'll bring you his speech live

at 12:30 gmt now, investors are gearing up for what ultimately could be the uk government's final fiscal event before any election expected this year chancellor of the exchequer, jeremy hunt walking a personal tightrope as he tries to balance and discussesthe public finances here's what sterling looks like as we head toward that movement, 1.2725 it's whether the ghosts of past years will be impacting the market quite significantly it seems pretty stable as we

head toward that movement. as you can see, there's been some movement over the five-year basis. that big decline in 2022 that everyone would be looking at, the markets hoping for a -- not a similar reaction as that onto the gild to market quite significantly, while all markets might be on the ecb, they look at what's happening with the gilt market, the tax cut being one of the key components to look out for, what happens to national insurance as well they find the ability to be fiscally responsible in an election year as well. you've seen the 10-year gilt hold onto 5%, 4.5, 4.3 for the more rate sensitive two-year gilt we have silvia from westminster then this morning you've been interviewing a few people then as well. silvia there the imf might not be too happy

with that. >> indeed the imf has warned in the past about significant tax cuts for the uk economy. they do not feel that that is the right track for this economy at this stage, but let's see where the chancellor will choose to go. we don't know at this stage how big these tax cuts could actually be, but i want to show you this chart the resolution foundation came up with this chart of a sandwich to explain really what we can expect from the chancellor later on today i'm pleased to say that i have hannah slaughter, with me. explain to us thisanalogy of a sandwich to describe fiscal policy changes today. >> sure. so the sandwich is a bit of a metaphor to help people think about the tax cuts that are likely to happen today in the context of what's already happened and what's going to happen in the future so maybe starting with what's happening today, if you imagine

that's kind of the feeling of the sandwich so to speak, we'll have to wait until half 12 today to know exactly what's going to happen, but there's been a lot of news in the media about the cut of national insurance. that's what jeremy has to lead on we really need to see that in the context of what's already happened and what's happening in the future that's between the two slices of bread, if you will thinking about the past, these tax cuts that are likely to happen today come in the context of tax rises that have already happened about 20 billion worth that's largely in the form of freezing the thresholds at which people start to pay tax on their income, which the thresholds would go up with inflation than more people that otherwise might have been the case of paying taxes or paying high rates of tax. and then on top of those tax rates that have already

happened, there are tax rises already pencilled in for after the election they're expecting further threshold freezes. all of this is dependent on who wins the election and what they decide to do about a billion tax rises have been announced that's how we should be thinking about the cuts today in the wider context of the tax rises ahead in the past. >> so the bottom line here, just to make it really simple to our audience, ultimately it doesn't matter what we hear if the chancellor today because the taxpayers will continue to be worse off and face higher taxation going forward. >> i mean it really depends on where you're at in the income distribution for some people, they will be on balance better that's people earning between about 27,000 and 59,000 pounds a year those are middle earnings. those o lower incomes or higher incomes, they're worse off than

they would have been if we had. had the tax cuts in terms of the rates and if we hadn't had tax rates going up higher earnings are about 500 pounds worth from all of that and about 16,000 pounds of low earniers are the worse off. they lose about 3.5% of their earnings relative to where we hadn't had the tax cuts. >> interesting it feels that the changes in insurance contributions are likely to be announced, but one of the open questions is whether jeremy hunt will go ahead and announce a 1% or 2% reduction rate for income tax. how costly could it be to announce such big changes and do you think he has the fiscal headroom to go that far? >> it's definitely -- it depends on what he chooses to do but say, for example, the tp cut

would cost about 10 trillion pounds to do he's coming up against his fiscal head. what that means is under his own fiscal rules he needs to make sure debt is falling relative to the size of the economy in five years' time and he's got very little wiggle room to be doing that he'd hoped there would be good news that would have made it easier for him to do that, but it doesn't sound like that's materialized we'll wait to hear from the official forecaster what they think is going to happen and so that means he needs to find some money to pay for that essentially, and that might come in the form of cuts to public services, which are already under a lot of pressure. it's possible he could use that to give himself the headroom that he needs, but that would come at the expense of public services down the line. >> talk to us about other potential measures we could hear from the chancellor as well.

there are expectations that whelp it comes to fuel duty, that will continue to be frozen for at least another year. so walk us through the expense of some of these additional measures we might hear from him. >> yeah. i mean one of the -- as you say, one of the things that's been trailed is further freezing fuel duty i mean, fuel duty hasn't actually been increased sense 2011 so it's really each time we had a budget, you know, it kind of comes up again it hasn't and it got kind of cuts back in 2022 by five to kind of ease some of the cost of living crises in terms of energy so that could be, you know -- doing that again could also be quite costly not quite as costly as the personal tax cuts, but that's certainly another, you know, pressure on the public finances. >> and i'd also like to get your thoughts on the announcement today and sort of the impact it could have on the uk economy

you've made it clear when it comes to the fiscal burden we're looking at significant levels going forward, but is there a way to provide a little bit of stimulus to an economy that's in recession at this stage? >> it's certainly true that lowering the tax on income and specifically with national insurance, it's specifically a tax on earnings. so when people are working, that's what we're lowering the tax on in a sense, this does provide some kind of -- a bit more incentive for people to work or work more because it means they essentially lose less of their earnings and want to increase their hours. that could provide a bit of stimulus but we've got a bigger picture problem of low growth, stagnation in the wider economy. and, you know, it's questionable about how much of an impact the tax cut could have, especially if it comes at the expense of

investment, which we really need to stimulate long-term growth. >> very clear. hannah slaughter, senior economist at revolution foundation on that note, i'll hand it back to you in the studio, arabile, but we'll have plenty more coming from westminster later on when the chancellor decides to arrive at the house of commons to deliver the spring budget. >> yep, we'll certainly have that live for you at 12:30 gmt silvia, we'll chat with you later on as well do check out cnbc's website then for our live blog throughout the day. now, china's finance minister says local government debt risks are showing signs of easing speaking of china piece meeting, they said they'll promote measures to deal with the issue. national women's day is coming up on friday with this

year's dubbed inspired explosion. let's talk about that. >> yes i've been talking to women leaders from different centers and i caught up with an international interior designer. she built up her global business when she left school at 16, and i asked her, what kind of discrimination she faced when she started her business >> for me working on builds sites when i was 16 1/2 was a men's industry i often felt uncomfortable, but i believed in myself enough to be able to work in the industry and build a business, but i think there have always been challenges for women, especially in the city in my field of work. it was uneven in the workplace

it was constantly being hidden and not being spoken about what i think is happening today is more people are being outspoken and showing it's about what you can do and how good you are at the job that you're doing and it should. make any difference whether you're man or woman. >> what do you feel about quotas, man versus women, and whether there should be in the boardroom. >> absolutely i do i do emt think this should be a conversation we're having in 2024 that's what i find extraordinary, that we're still having the same conversation slightly packaged in a different way. i think it needs to draw a line underneath it. it's equal line, equal pay, no matter where you're work or what you're doing it shouldn't be a conversation that we're all having constantly. >> in what way do you feel that women lead differently >> i mean i think that, you know, women are great leaders. i think that as a woman you can

be incredibly fierce in business, but we have a sense of vulnerability, and i think the balance of vulnerability and that fierceness in a workplace works to our advantage i think we have a sixth sense. i think we have an innate gut reaction about things. i think that we have something that is slightly different and i think that when we put that to food use in a positive way, it's very, very powerful. >> kelly hoppen talking about some of the challenges she's had to overcome to be the success that she is. and back in 2014 she said she nearly lost her business, arabile, but she said she fought so hard to build it up that she wasn't going to give up. >> you speak about those two challenges there was so much in her career and life as well having started her business at 16, one would animal it being a

male-dominated industry, all of those sectors having to come into play. there was a lot of trials and tribulations in all of this. >> absolutely. i think her point was saying in 2024 we're still talking about it and we shouldn't have to, but we are awareness is always good, and i've been speaking to more influential women. and tonight my program equity and opportunity with queen maxima, queen maxima of the nether land will be on cnbc at 2300 cet don't miss it. 'll be chatting to her majesty about fair and equal service opt to services. coming up on the show, u.s. president joe biden and former president donald trump on super tuesday, setting up a rematch after 2022 we're live with the latest after this short break

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european markets and see how things are faring right now. we see gains on the ftse 100, which seems to be on the up, around a quarter of a per emt. so, too, the ibex 35, a 1% gain there, of course, that one significantly enough on the back of grifol which is down significantly. moody's putting it on review for a downgrade on that one. you're seeing a score at the top of the stoxx 600 out of the set of earnings. tui also heading on with news flow which has been fairly interesting to look out for. morgan stanley upgrading the stock to overweight and raises the price target to 10 euros so, too, convotech with their numbers. some positively across the board. looking at a slight risk th the uk preparing to unveil its spring bucket. we'll have the details at 12:30

for you. the exchequer jeremy hunt talking about the cut to income taxes. that being the headline there. coyote build the calm before the storm as the dollar is steady ahead of jay powell's testimony and the uk budget. we'll be looking at the pound dollar and what that will look like a little bit later on yesterday's services industry data did push the dollar lower, the greenback now in a tight range, around a 60% chance of a rate cut in june according to the cme fed watch tool. now, donald trump is closing in on the republican presidential nomination after super tuesday. nbc news projecting he has secured victory in 14 of the 15 gop races. that leaves trump just over 150 delegates away from securing the nomination of 1,057 so far. speaking in florida as the

results rolled in, trump said he expected his victories to bring harmony. >> all of the problems that you have today, i don't think you would have had any of them you'd only have success. that's what's going to unify this country and this party. you have a grit party with tremendous talent and we're going to have unity and it's going to happen very quickly i've been saying success will bring unity to our country. >> trump's last remaining rival nikki haley lags well behind with just 92 delegates after securing victory in the state of vermont. she has pledged to stay in the primary race as long as she is competitive. on the other side president biden is closing in on the democratic nomination winning just over 400 short of the level required and winning all

contests bar one as jason parma declared victory with 51 voigts in a margin of 11. in a statement biden reiterated his criticism of donald trump, branding him as determined to destroy u.s. democracy and rip away fundamental freedoms. let's head on over to nbc's brie jackson who joins us for more no surprises really for the most part here, but with nikki haley still in the running, is there more to come from the announcements from her side of the party saying whether they maintain their stance to firmly stay in the hunt until the very end? >> reporter: so that's the big question here. it remains unknown what's next for nikki haley. the last update that we did receive from the haley campaign is that they are honored to have gotten the support of millions of americans but we do know that she actually could stay in this race. now, haley has been a prolific

fund raiser, but she does remain far behind former president trump when it comes to the delegate race. we're waiting on word from haley's campaign today or this morning to see the path forward for them but she has committed -- or even before she had vowed to stay in the race until super tuesday and she said she had not looked much past then. this was really an opportunity for her to assess how she's doing in this campaign and as you mentioned, she said she would stay in the race as long as she's competitive. so far she's only picked up two races. she picked up vermont last night and then had picked up washington, d.c. on sunday so we're looking to see what's next for haley's campaign. >> yeah, and as we look to what's next for haley, what's next looks by all accounts then is that we will see that rematch between president joe biden as well then as donald trump on the

republican side. i mean the interesting factors here still being bidenomics as a key factor to kind of lock at the economy. one of the areas that republican voters are looking at when voting >> reporter: so there are a couple of things there's border security. that's something we've heard a lot about. there's crime here in washington, dc and other places across the country that people have their concerns about. really there's a number of issues, and we know that trump is closer to inching toward a renomination that would sets up a rematch with president biden but president biden has concerns he's worried about too we did see voters coming out in michigan, doing that protest vote against president biden when it came to his support for israel and the war in gaza that's something we continue to hear in fact last night president biden, he released a statement

about super tuesday. he said that the results were clear that leaving americans with a clear choice, he asked, quote, are we going to keep moving forward or will we allow donald trump to drag us backward into chaos, division, and darkness that defines his term in office. so president biden as well as former president trump both looking ahead to the general election, but they both have some ground to make up there's a large percentage of americans that say they don't want former president trump nor president biden to be the president. they don't -- they're unhappy with both of those candidates, but it looks like those will be their top choices heading into the november election. >> brie, thank you so much for this of course, we will be continuing to check in on the story it's certainly a big one as we roll on to the 5th of november, of course. brie jackson from nbc. now, a quick look at the u.s. futures then ahead of the market opener later on today

it looks like we're headed for a rebound across the biggs clee klein across yesterday's trade, which was led by apple that had a 3% will that begin to pick up we'll certainly see because the tech-heavy nasdaq looks like it may be headed toward some positivity there ahead of this market picture of course, we're looking toward fed chair jerome powell's congressional testimony then over two days. that's happening today plus we also have the jobs opening data out of the united states more employment numbers to really come out. more focus on that as adp private employment numbers come up also nonfarm roll pays thanks for joining me on the show my name is arabile gumede. "worldwide exchange" is next

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it's 5:00 a.m. at cnbc headquarters and here's your five at five why jim cramer says it's more about the top than the bubble about to burst there's nothing pretty about the mag 7 shedding more than $200 billion in market cap in one single day the single big question, is this a big tech buying opportunity? and record-high and record slide, tracking bitcoin after the brief moment when it achieved new highs. >>