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we are going to have a european summit in europe this week. this topic has been added to the agenda. it was not meant to be a topic of conversation for the leaders. what would you like to hear from the heads of state when they gather this week? >> well, i think iran has made it clear this escalation could have been avoided had the heads of state, israel and uk and france and the u.s. already issued a come denndemnation. it would be ideally a more balanced condemnation. this was not an iranian prove indi provocation. this awould be good to hear a more balanced and fair condemnation of the sides. more importantly, i think it is also worth considering the regional escalation beyond iran and israel. this is having aim n implicatio for other states. jordan and egypt. jordan especially in terms of the stability is precarious. its current involvement two days ago has put the regime in quite the situation now. >> you mentioned the regional escalation. are you concerned this attack by iran clearly in defense of palestinians and gaza might ramp up the a
we are going to have a european summit in europe this week. this topic has been added to the agenda. it was not meant to be a topic of conversation for the leaders. what would you like to hear from the heads of state when they gather this week? >> well, i think iran has made it clear this escalation could have been avoided had the heads of state, israel and uk and france and the u.s. already issued a come denndemnation. it would be ideally a more balanced condemnation. this was not an...
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Apr 16, 2024
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there is less competition from china compared to europe you have a.i. and the investments to support the economy. you have the u.s. election that will deliver something which is positive for u.s. growth versus others given that, i think we have more confidence on the cutting cycle starting soon and being deeper in europe compared to the u.s. in the case of the ecb that we were talking about before, we see the first cut in june and we see about three rate cuts for the year in the case of the bank of england, probably a similar picture. when it comes to bonds where we have a reasonable amount of conviction is the bonds in the economy which are more interest rate sensitive like u.s. and australia and canada are those where we see performance with the economies having cutting cycles which are deeper than the fed, but the market at the moment is not pricing that it is pricing a similar picture for the economies. we think there is an opportunity there. >> i want to bring the conversation back to europe. in some of the analysis, you made the comments that euro
there is less competition from china compared to europe you have a.i. and the investments to support the economy. you have the u.s. election that will deliver something which is positive for u.s. growth versus others given that, i think we have more confidence on the cutting cycle starting soon and being deeper in europe compared to the u.s. in the case of the ecb that we were talking about before, we see the first cut in june and we see about three rate cuts for the year in the case of the...
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Apr 11, 2024
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that is true in europe. we expect it more to happen in europe. in europe, the progress has been good. the wage inflation has been weaker. >> we have a chart that shows your forecast. we will put it up right now. how do we get there? in the u.s. and in europe, how do we get there? globally right now, people are still spending. consumption is still up. >> it depends on the sectors and a lot on how wages are set. if you look in europe, we have the collective bargaining which is kicking off again. to give you a sense on monday, the chemicals industry in germany started the cba process. you have companies which cut the dividend. they are saying going into the negotiations is we might not be able to raise wages at all. we'll have to see more of that especially in europe with the wage negotiations linked to headline inflation. as headline inflation comes downs, it feeds into the negotiations. there are more questions in the u.s. the wage setting is different. we would argue a lot of the high frequency indicators in the u.s., they care coming down. the l
that is true in europe. we expect it more to happen in europe. in europe, the progress has been good. the wage inflation has been weaker. >> we have a chart that shows your forecast. we will put it up right now. how do we get there? in the u.s. and in europe, how do we get there? globally right now, people are still spending. consumption is still up. >> it depends on the sectors and a lot on how wages are set. if you look in europe, we have the collective bargaining which is kicking...
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Apr 9, 2024
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in contrast, it was the opposite in europe. that has been reflected and a similar view for the ecb and fed which is not right in terms of prior growth and inflation, you should have a more hawkish outlook. the ecb should be a little more dovish. >> you are pointing to the higher growth. something we will talk about later in the show is the rising in commodity prices which can be inflationary. is the ecb and fed watching that? >> absolutely. they are watching it. they are worried about inflation being sticky and it is not just commodity prices. it is commodities and shipping disruption. on the services side, the worry is wage inflation. for the u.s., they heare worrie about the trend growth. it has come down, but it has gotten sticky at 5%. the u.s. is worried on the demand side. for europe, it is less of a worry with the demand side because the ecb squeezed the economy more. i think they would be worried from the supply side because that is not something they have an impact on. >> skylar, so many noted the lack of volatility in
in contrast, it was the opposite in europe. that has been reflected and a similar view for the ecb and fed which is not right in terms of prior growth and inflation, you should have a more hawkish outlook. the ecb should be a little more dovish. >> you are pointing to the higher growth. something we will talk about later in the show is the rising in commodity prices which can be inflationary. is the ecb and fed watching that? >> absolutely. they are watching it. they are worried...
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Apr 17, 2024
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, a little bit of europe, obviously into the u.s. and the number even yesterday, chinese have been spending 37% to 38% of their money offshore, overseas, which shows a remarkable improvement compared to the fall, which was more in the 20% to 25% range. so the continued recovery of chinese, we continue to surpass the growth in europe and in the u.s. and should continue with likely demand from local customers. >> you're mentioning travel retails. we call in the u.s., chinese consumers buying things in the u.s. how sustainable is that for lvmh and other luxury players like hermes. how much longer do you expect chinese traveling abroad continuing to power companies like lvmh? >> well, the comparison in terms of the chinese offshore spending is easy, i would say because chinese used to spend -- so we definitely believe the pressure of domestic spending from chinese will remain structurally higher, but still we see a sizeable and broad potential of chinese offshore spendings. if you look at the state of the chinese customers overall, today
, a little bit of europe, obviously into the u.s. and the number even yesterday, chinese have been spending 37% to 38% of their money offshore, overseas, which shows a remarkable improvement compared to the fall, which was more in the 20% to 25% range. so the continued recovery of chinese, we continue to surpass the growth in europe and in the u.s. and should continue with likely demand from local customers. >> you're mentioning travel retails. we call in the u.s., chinese consumers...
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Apr 9, 2024
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it has been a lower start to trading here in europe. we are seeing the main board in germany and in italy are leading the losses at this stage. down by .6%. this is after we saw the main benchmark in europe on monday, the stoxx 600, ending the session positive by .4%. we are looking at the holding pattern among investors as we wait from the ecb on thursday and that key inflation print from the united states. i want to show you the breakdown. there are interesting moves in the space. at the top, basic resources is out performing at this stage by 1.5%. oil and gas stocks are up by .8%. a lot is happening in the space. we are seeing shell shares moving higher off the back of higher oil prices. we heard from bp this morning. they are positive trading which has boosted the sector overall as well. on the other hand, at the bottom, we have construction and material down .7%. retail as well is down .6%. >> silvia, thank you. >>> turning back to the u.s. one of the big stories is the solar eclipse. everybody looking up in the sky. while everybod
it has been a lower start to trading here in europe. we are seeing the main board in germany and in italy are leading the losses at this stage. down by .6%. this is after we saw the main benchmark in europe on monday, the stoxx 600, ending the session positive by .4%. we are looking at the holding pattern among investors as we wait from the ecb on thursday and that key inflation print from the united states. i want to show you the breakdown. there are interesting moves in the space. at the top,...
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Apr 17, 2024
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first we want to see how europe is shaping up as trading gets underway. silvia amaro with me here. >> at this stage we have the major boerses trading in the green. that's a different narrative from yesterday when the stoxx 600 ended the session down by about 1.5%. there's a lot on the minds of the investors. today the focus seems to be more on the factor. we're hearing from several corporates, but also on top of that, investors seem to be digesting some of the commentary from central bank policy makers. i would highlight the ftse 100. up almost 0.5%. this is after we heard new cpi data out of the united kingdom that showed any improvement in cpi numbers. i want to take you to one of the corporate zoirs. that's amamsl. it expects a worse than expected first quarter. we have shares of amsl down by about 4.2%. also if you look, however, their performance over the last year, shares are significantly higher, up by almost 45%. but nonetheless, this is also keeping with -- pushing some momentum across the sector. if we take a look at some of the other peers, you
first we want to see how europe is shaping up as trading gets underway. silvia amaro with me here. >> at this stage we have the major boerses trading in the green. that's a different narrative from yesterday when the stoxx 600 ended the session down by about 1.5%. there's a lot on the minds of the investors. today the focus seems to be more on the factor. we're hearing from several corporates, but also on top of that, investors seem to be digesting some of the commentary from central bank...
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Apr 16, 2024
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as well as europe. in fact, most recent critic of this was the german chancellor who is in china the past couple days and criticized what he described as china's overproduction and said there need to be more progress on some of these long-standing structural issues. sara? >> so eunice, what do you make of the consumption data that we've seen so far that's been mostly weaker than expected on retail sales and the fact that now you have this louder chorus of u.s. policymakers, european policymakers, ceos, calling on china to shift the model toward thinking more about consumers? how is that landing in china, and is there any evidence that they would do something about it? >> there isn't a whole lot of evidence that china is going to change its tact to try to really ramp up the consumption. they definitely give all the lip service and we've heard from the premier many times saying that they want to upgrade big ticket items, home appliances, go green, that sort of thing, but in terms of really juicing up the
as well as europe. in fact, most recent critic of this was the german chancellor who is in china the past couple days and criticized what he described as china's overproduction and said there need to be more progress on some of these long-standing structural issues. sara? >> so eunice, what do you make of the consumption data that we've seen so far that's been mostly weaker than expected on retail sales and the fact that now you have this louder chorus of u.s. policymakers, european...
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as well as europe. germany's chancellor has been in china and criticized the china overproduction. >> a lot of overproduction concerns in china. you are on the round, eunice, any word of fresh stimulus measures or does this gdp report show moves are not necessary? >> reporter: there are folks watching an april bureau meeting. this is the leadership meeting for the month. there isn't a lot of expectation there will be a whole scale change. that is because of the comments we heard from xi jinping who was dismissive of the criticism of the excess capacity. he has been arguing the chinese mass production of evs and lithium batteries and solar panels helps global inflation and climate issues. china has long been accused of flooding global markets by using anti-competitive subsidies. it looks like that won't change. we are seeing in state media that officials had been describing the charges of excess capacity by the u.s. and europe as fake news. that is an indicator that authorities are feeling sensitive abou
as well as europe. germany's chancellor has been in china and criticized the china overproduction. >> a lot of overproduction concerns in china. you are on the round, eunice, any word of fresh stimulus measures or does this gdp report show moves are not necessary? >> reporter: there are folks watching an april bureau meeting. this is the leadership meeting for the month. there isn't a lot of expectation there will be a whole scale change. that is because of the comments we heard...
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Apr 15, 2024
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it is a different story from europe today. looking at how asian equities ended the session today as you see a negative picture. there's several dynamics there. i would like to highlight when it comes to chinese equities, the pboc said they would not make no change to the mlf rate. we are seeing a lot of negative momentum in asia because of the strong u.s. dollar. that is putting pressure on the nikkei 225 which ended do down .70%. the dollar is trading at about a three-decade high compared to the japanese yen. bringing you back to europe to show you the narrative. the majority of the boards here in europe are actually in the green this morning. we have the cac 40 up .60%. stronger moves in germany and in italy with the market now up by 1%. there's a lot in the minds of investors today. we are monitoring what is happening in the middle east. the geopolitical tension shows the narrative about higher rates for longer stateside. of course, investors are also looking at the earnings season. i want to show you the breakdown when it
it is a different story from europe today. looking at how asian equities ended the session today as you see a negative picture. there's several dynamics there. i would like to highlight when it comes to chinese equities, the pboc said they would not make no change to the mlf rate. we are seeing a lot of negative momentum in asia because of the strong u.s. dollar. that is putting pressure on the nikkei 225 which ended do down .70%. the dollar is trading at about a three-decade high compared to...
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Apr 11, 2024
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this as some companies in europe are complaining about the possibility that u.s. big companies could actually bid for cloud computing contracts in the eu. back to you, frank. >> silvia, thank you very much. i know you will cover the big ecb decision later today. busy day for you. >>> let's turn attention to asia. a volatile session there. jp ong is standing by in singapore. jp. >> reporter: good morning, frank. a lot of markets in asia closing in the red. the tone was set on wall street with the hotter than expected cpi print which has cast doubt if rates will stay higher for longer. we saw yields rising here in the fixed income space in asia. china had concerns with deflation pressure. this hinting at a slowdown in the second largest economy. the shanghai composite rallying after opening up deeply in the red. the nikkei 225 is worth looking at with the volatility vanderbcurrency with the japan yen. the finance minister of japan coming in and saying they are prepared to intervene if we see the pullback on equities. it kept the yen in the red in today's session. i
this as some companies in europe are complaining about the possibility that u.s. big companies could actually bid for cloud computing contracts in the eu. back to you, frank. >> silvia, thank you very much. i know you will cover the big ecb decision later today. busy day for you. >>> let's turn attention to asia. a volatile session there. jp ong is standing by in singapore. jp. >> reporter: good morning, frank. a lot of markets in asia closing in the red. the tone was set...
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chinese goods have seen weaker demand in markets such as europe. in addition to that, the lower prices for chinese goods really hurt the value. frank. >> eunice, obviously these export numbers are surprising falling deeper than expected. what are you hearing when it comes to stimulus measures in china? is this a catalyst for deeper stimulus measures? >> reporter: that's what a lot of people are hoping to see. they are hoping to see greater stimulus on the part of the government for consumption. what is also interesting about the numbers is they really undermine what appears to be the government's big push to rely more heavily on trade and manufacturing rather than making major changes in terms of consumption or having to deal with the property sector. as we have been talking about the overcapacity issue has been sensitive here. in the past couple days, state media has been running a narrative talking about how washington is over-hyping the issue and overcapacity is not what the whole push to sell things overseas is all about. >> eunice yoon live in
chinese goods have seen weaker demand in markets such as europe. in addition to that, the lower prices for chinese goods really hurt the value. frank. >> eunice, obviously these export numbers are surprising falling deeper than expected. what are you hearing when it comes to stimulus measures in china? is this a catalyst for deeper stimulus measures? >> reporter: that's what a lot of people are hoping to see. they are hoping to see greater stimulus on the part of the government for...
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Apr 9, 2024
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europe is very, very important. david, there is a surge in amazon web services where, remember, they were down, down, down. then it's no longer -- >> we say down, down, down, the growth rate was coming down. >> they don't talk about it much, but it's good. i think the work they're doing with nvidia is extraordinary. >> explain what you mean when you say that. >> they are the biggest adopter of the new chips which are gigantic. the super computers, amazon, adam sal lipsky who runs aws said -- [ bell ringi ]. >> the big board, half nia at the nasdaq, the u.n. general assembly ahead of the u.n. sustainability group. >> kind of interesting to chart amazon versus apple in the last, say, six months because 165.67 would take you back to the october low. >> apple is a little exhausting. what we're getting is stories saying the service revenue, the app store is better in the month of march than it had been january/february. i think the service revenue is going to be good. they have to embrace the business. steve jobs didn't
europe is very, very important. david, there is a surge in amazon web services where, remember, they were down, down, down. then it's no longer -- >> we say down, down, down, the growth rate was coming down. >> they don't talk about it much, but it's good. i think the work they're doing with nvidia is extraordinary. >> explain what you mean when you say that. >> they are the biggest adopter of the new chips which are gigantic. the super computers, amazon, adam sal lipsky...
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and tomorrow here in europe, we've got the ecb as well. let's take a look at the individual european markets for you, shall we? yesterday after quite the red day indeed, we saw losses of 0.9% to 0.1% for germany, france, and italy. today, good scores on the board. the xetra dax is up, ftse 100 by 0.6th as well. and resources, names such as bhp, because missiles are bounding higher, there's hopes the manufacturing is getting underway and finding its footing out there. it's all about the chips. not the delicious salty vinegary chips you eat on the couch. i'm talking about tmsc. its revenue, which beat expectations, that's following through to some really good gains for the likes of asml, infineon and others, the names you see in our european region. technology, the leading. auto is up 1%. oil and gas moving to the upside there. indeed wti and brent actually fell in u.s. trade, but nonetheless have done very well so far this year and very much oscillating depending on what kind of news we're getting out of gaza and the ongoing cease-fire talk
and tomorrow here in europe, we've got the ecb as well. let's take a look at the individual european markets for you, shall we? yesterday after quite the red day indeed, we saw losses of 0.9% to 0.1% for germany, france, and italy. today, good scores on the board. the xetra dax is up, ftse 100 by 0.6th as well. and resources, names such as bhp, because missiles are bounding higher, there's hopes the manufacturing is getting underway and finding its footing out there. it's all about the chips....
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Apr 12, 2024
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the uk, rates will not get cut as quickly as other parts of europe. >> boe? >> we think maybe closer to where the fed is. june is less likely with the stronger data we have seen there. >> kiran from ubs. thank you very much for being here. >> thank you. >>> speaking of the ecb, we will switch gears. ecb kept rates on hold for the thing fifth straight meeting, but policymakers say cuts are on the way. they will look to ease policy if inflation is converging to the 2% price target. inflation across the eurozone has eased with the march print copp coming up in at 2%. speaking in frankfurt, the ecb's stournaras said it is rather moving by wages. >>> coming up on the show, ben bernancke's review comes out you later today. we will walk you through what to expect after this break. switch to shopify and sell smarter at every stage of your business. take full control of your brand with your own custom store. scale faster with tools that let you manage every sale from every channel. and sell more with the best converting checkout on the planet. a lot more. take your bu
the uk, rates will not get cut as quickly as other parts of europe. >> boe? >> we think maybe closer to where the fed is. june is less likely with the stronger data we have seen there. >> kiran from ubs. thank you very much for being here. >> thank you. >>> speaking of the ecb, we will switch gears. ecb kept rates on hold for the thing fifth straight meeting, but policymakers say cuts are on the way. they will look to ease policy if inflation is converging to...
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Apr 17, 2024
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we have the plummets and europe is looking a little brighter. it only seems to matter for about an hour. the bear just savages, with the circle. doesn't it make you want to give up? it does, especially with the nasdaq breaking down. let's not forget that you can get 5% from sticking your money in a certificate of deposit. that has to feel good. this is a market that wants to go down and it's very easy. apple, tesla, nvidia, rolling over. you just get out of dodge, but is not a good reason to just sell? no. you never sell all at once. we did something different, we sold stock almost every day of the last four weeks, something you might have done if you join the investor club. we had some evaluations that were overstretched, and we did not want to lose all positions so we did something called scaling out, so stock when higher we sold shares to raise cash. if it comes back down, we can scale back in and refigure the market might have a peek because the fed may have jumped the gun when they told us they no longer needed to raise rates. we've been sk
we have the plummets and europe is looking a little brighter. it only seems to matter for about an hour. the bear just savages, with the circle. doesn't it make you want to give up? it does, especially with the nasdaq breaking down. let's not forget that you can get 5% from sticking your money in a certificate of deposit. that has to feel good. this is a market that wants to go down and it's very easy. apple, tesla, nvidia, rolling over. you just get out of dodge, but is not a good reason to...
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a lot has come from china to europe to america. whatever >> yep >> but now, you're having a lot more on shoring of production, the chips act is going to remain a very different change there. automobiles being manufactured in the united states so what does that mean i drove out 180 today, last night, and there was a huge new prologios warehouse. where did that come from >> i think there are two things that are implicit in what you're saying the first is we're doing a u-turn on globalization, right shifting where we manufacture goods away from china. and the second is we're seeing an increased supply driven event shock. so baltimore bridge tragically, trade disruptions in the middle east, panama canal by the way, covid when we couldn't get protective gear so all of these event-driven shocks are forcing companies to diversify where they manufacture their goods and how they get them to the end consumer all of that creates more demand for industrial >> more demand for warehouses and manufacturing ability, data centers. there's another s
a lot has come from china to europe to america. whatever >> yep >> but now, you're having a lot more on shoring of production, the chips act is going to remain a very different change there. automobiles being manufactured in the united states so what does that mean i drove out 180 today, last night, and there was a huge new prologios warehouse. where did that come from >> i think there are two things that are implicit in what you're saying the first is we're doing a u-turn on...
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this time everyone was focused on southern europe. others pinned it on the newfound weakness in the u.s. economy, which for the record, there really wasn't any. i recognized the flash crash for what it was, another situation where the machines were breaking as the futures overwhelmed the stocks. it wasn't the fundamentals. a gigantic seller caused the fear. many buyers disappeared. they walked away. they didn't wait around to find out what was causing the landslide. had to be something big, right? they just wanted to get out as fast as possible. lightning. on air i called it a phony sell-off because the decline had no basis in economic reality, which made for a tremendous buying opportunity. error>> that is not a real place, it's too bad the system obviously broke down. >> we are trying to get the specialist to talk about what happened. >> the machines failed. it obviously broke down. it obviously broke down. the market didn't work. it broke down. the machines broke down. that's what happens. >> that's exactly what happened. it had no
this time everyone was focused on southern europe. others pinned it on the newfound weakness in the u.s. economy, which for the record, there really wasn't any. i recognized the flash crash for what it was, another situation where the machines were breaking as the futures overwhelmed the stocks. it wasn't the fundamentals. a gigantic seller caused the fear. many buyers disappeared. they walked away. they didn't wait around to find out what was causing the landslide. had to be something big,...
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Apr 9, 2024
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what we're looking at is a way to play the restocking of munitions across europe because of what is going on in ukraine. so they have a contract from the german government. you're seeing more money being spent on things replacing what is being used in the war over there. this is a way for us to play something locally. much better valuations in u.s. defense companies. but they're on the ground to get supplies to ukraine more quickly. i think that's the way governments of europe will give supplies opposed to dollars in the ukraine situation. >> michael, appreciate your insights. >>> coming up, muni credit is the best it's been in 20 years, but some areas are starting to see a peak. we'll ask the head of the funds muni team where that is going. that's up next. [alarm beeping] amelia, turn off alarm. amelia, weather. 70 degrees and sunny today. amelia, unlock the door. i'm afraid i can't do that, jen. why not? did you forget something? my protein shake. the future isn't scary, not investing in it is. you're so dramatic amelia. bye jen. 100 innovative companies, one etf. before investing, care
what we're looking at is a way to play the restocking of munitions across europe because of what is going on in ukraine. so they have a contract from the german government. you're seeing more money being spent on things replacing what is being used in the war over there. this is a way for us to play something locally. much better valuations in u.s. defense companies. but they're on the ground to get supplies to ukraine more quickly. i think that's the way governments of europe will give...
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this is bad news for europe. interesting day back to the broader market is that you had nasdaq 100, you had qqqs underperform. typically, we think they'd be pretty defensive here, at least they've shown that, although, in a market that's seen disproportion gnat move by the megacap techs, if it's just a pull-back, people dialing back risk. i think we have to watch those moves. the leadership of this market, we know where it's come from, we know it's proven to be defensive at other times. i'm not running from emergency here. >> one thing i'd add tothat is, it's important to remember that the u.s. is now a net energy exporter, right? since 2019. and so, even though this is bad for us, and we saw that today, to your point, it's worse for a lot countries. >> like japan. >> right. probably japan is doing better than it would have otherwise, simply because dollar yen is now at its highest level since 1990. but i think the dollar staying strong, all else equal, is going to be something that's with us for a bit. >>> comin
this is bad news for europe. interesting day back to the broader market is that you had nasdaq 100, you had qqqs underperform. typically, we think they'd be pretty defensive here, at least they've shown that, although, in a market that's seen disproportion gnat move by the megacap techs, if it's just a pull-back, people dialing back risk. i think we have to watch those moves. the leadership of this market, we know where it's come from, we know it's proven to be defensive at other times. i'm not...
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>> i mean europe. malta is a possibility. you can travel anywhere in europe. >> the golden ticket. >> golden visa. >> portugal's famed in italy. >> you can travel through the whole region. >> to you like malta over part gal? >> portugal is great. t it's not expensive. >>> you've got a new project. what is it? >> it's called inside wealth, a weekly newsletter. if you look at managing the wealthiest of the wealthy, it's exploded. 600,000 worth 30 million or more. this is hyperfocused on where wealthy investors are putting their money. so it's family office, it's alternative investments, venture capital, private equity hedge funds. taxes is our favorite topic. it's the whole business of wealth management and next generation of wealth transfer. >> what amazes me is i can always ask you a craze yeftd question and you always have the answer. y uno the statistics. you are so deep in your knowledge. >> thank you. i appreciate that. i've been doing this for 20 years. this puts it all together and the riefocus is where are the real wea
>> i mean europe. malta is a possibility. you can travel anywhere in europe. >> the golden ticket. >> golden visa. >> portugal's famed in italy. >> you can travel through the whole region. >> to you like malta over part gal? >> portugal is great. t it's not expensive. >>> you've got a new project. what is it? >> it's called inside wealth, a weekly newsletter. if you look at managing the wealthiest of the wealthy, it's exploded. 600,000...
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Apr 10, 2024
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. >> but in europe, it's the largest bank in europe. >> must holdal significantly more capital against their foreign units. ubs very aggressive in the u.s. once again. forget, though, credit suisse, they were a major player for so many years. all they did was get everything -- just get things wrong for so many years of getting things wrong. >> they've been on the wrong side of the trade for -- >> remember archagos? anyhow, that's why ubs shares are down. back to our domestic stocks. what do you got? >> nvidia's up, so therefore, if -- remember, if you think that nvidia is a dog, then you get your little chancy here. >> up, in part because of the morgan stanley price target move we mentioned. they're talking about a stock based on their $25 calendar year -- 2025 calendar year estimate, the stock trades at 28 times. >> if i have to hear -- >> 28 times. >> if it's part of a bubble once more, i say, again, people don't understand that they have tremendous earnings power, that they're well ahead of everybody else, that blackwell is going to crush everyone. that's their new iteration. but da
. >> but in europe, it's the largest bank in europe. >> must holdal significantly more capital against their foreign units. ubs very aggressive in the u.s. once again. forget, though, credit suisse, they were a major player for so many years. all they did was get everything -- just get things wrong for so many years of getting things wrong. >> they've been on the wrong side of the trade for -- >> remember archagos? anyhow, that's why ubs shares are down. back to our...
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Apr 15, 2024
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but other bond yields went down, in europe, in canada, and we heard from the canadian central bank last week and the european central bank, and they were a little dovish because their inflation rates are not flaring back up. they're not putting as much fiscal stimulus into their economy like we are. they can cut sooner, which just means strong dollar, strong dollar, strong dollar. this is the imf week. this is the week where all the central bankers and all the finance ministers come from around the world, and when you have a dollar yen pushing 1.54, which is super strong dollar, very weak yen, you start to worry about the fragility in financial markets and destabilization and currency interventions. we've got the perfect guest tomorrow, christine lagarde, will be on this show right after her meeting last week to talk about the global set-up, and of course, what she's going to do next. >> yeah. got ollie rene out. can't wait to hear what lagarde tells you tomorrow. >> she did not change that script in last week's meeting, importantly, given the fed members that have come out, and there's
but other bond yields went down, in europe, in canada, and we heard from the canadian central bank last week and the european central bank, and they were a little dovish because their inflation rates are not flaring back up. they're not putting as much fiscal stimulus into their economy like we are. they can cut sooner, which just means strong dollar, strong dollar, strong dollar. this is the imf week. this is the week where all the central bankers and all the finance ministers come from around...
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the two issues in europe with the arson and the red sea issue. they delayed the model 3 on purpose because they were trying to get the highland out. china rebounded in march. they performed okay. the whole market softened. i need to look at these things with the model y refreshed. in the context of the perfect storm in q1, they did the fsd trial which could reignite demand. it is too early to freak out about this. deliveries do matter for investors and retail stock. i acknowledge that. let's not lose sight of the bigger picture which is autonomy and energy storage. >> tom, thank you for joining us. tom narayan. >>> and later, we have the japan prime minister visiting the white house today. we will talk to our ambassador rahm emanuel coming up. because when there's no limit to how far mobility can go, there's no limit to how far businesses can go. (♪♪) hi, i'm david, and i lost 92 pounds on golo. my life partner connie and i were in really rough shape businesses can go. regarding our health. and our doctors told us that we needed to lose weigh
the two issues in europe with the arson and the red sea issue. they delayed the model 3 on purpose because they were trying to get the highland out. china rebounded in march. they performed okay. the whole market softened. i need to look at these things with the model y refreshed. in the context of the perfect storm in q1, they did the fsd trial which could reignite demand. it is too early to freak out about this. deliveries do matter for investors and retail stock. i acknowledge that. let's...
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Apr 17, 2024
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asmi holding, the talk of europe and and here in the u.s. >>> united airlines now reporting quarterly loss of 15 cents per share. forecasting better than expected profit for the current quarter. want to get over to phil lebeau who's joined by the ceo. phil, nice to see you. >> good to see you, andrew. lots of questions for scott kirby. the first quarter, much better than expected. what happened that wall street failed to appreciate going into the earnings report. >> you know, i think united airlines was a good first quarter, lot of issues and challenges. but there's a structural change in the industry. you can see it. couple of airlines that are outperforming. united is one of them. picking up customers. we had great domestic performance. put all that together even with the challenges, we had a really good first quarter. >> but you're expecting better than expected profits in the second quarter relative to street estimates going into yesterday, this is coming as we go into the summer where you're going be fighting capacity limitations. how much is that limiting your ability to grow? >
asmi holding, the talk of europe and and here in the u.s. >>> united airlines now reporting quarterly loss of 15 cents per share. forecasting better than expected profit for the current quarter. want to get over to phil lebeau who's joined by the ceo. phil, nice to see you. >> good to see you, andrew. lots of questions for scott kirby. the first quarter, much better than expected. what happened that wall street failed to appreciate going into the earnings report. >> you...
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this is a totally different narrative from what we had yesterday in europe. overall, the stoxx 600 ended tuesday's session down by about 0.6% of a percent, but today the narrative is a lot different. having said that, the investors are awaiting the key ecb decision tomorrow. some positive trading results out of european countries are boosting some of these moves. when it comes to the sector breakdown, this is the picture at this stage. we have technology stocks outperforming by about 1.3%. here one of the drivers is really those positive results from tsmc earlier today that's boosting the overall sector. basic resources up by 1.2%. i also want to take it to oil and gas talks because those are also seeing relatively important moves off of the back of higher oil prices. but let's see all eyes at this stage are on the cpi print out of the united states. and then, of course, the european central bank, frank. >> it's going to be a big market mover in the u.s. first we're going to switch gears. we're going to turn our attention to china and the developing story thi
this is a totally different narrative from what we had yesterday in europe. overall, the stoxx 600 ended tuesday's session down by about 0.6% of a percent, but today the narrative is a lot different. having said that, the investors are awaiting the key ecb decision tomorrow. some positive trading results out of european countries are boosting some of these moves. when it comes to the sector breakdown, this is the picture at this stage. we have technology stocks outperforming by about 1.3%. here...
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wage pressure, the company was born in denmark which has historically had the highest median wage in europe. these companies have been able to and have been pushing through prices. >> they maybe hitting a resistance point. >> that's exactly -- these things in new york, new york and california there's two very close to the new york stock exchange. they looked good. it he said 6:00 a.m. for those early risers. planes, travelers, we will talk jb hunt trels inrae,aversunc more next. (sounding horns) at enterprise mobility, we never stop looking for new mobility solutions. because sometimes the best road forward, is the one you didn't expect. (♪♪) if you've ever grilled, you know you can count on propane to make everything great. but did you know propane also powers school buses that produce lower emissions that lead to higher test scores? or that propane can cut your energy costs at home? it powers big jobs and small ones too. from hospitals to hospitality, people rely on propane-an energy source that's affordable, plentiful, and environmentally friendly for everyone. get the facts at propa
wage pressure, the company was born in denmark which has historically had the highest median wage in europe. these companies have been able to and have been pushing through prices. >> they maybe hitting a resistance point. >> that's exactly -- these things in new york, new york and california there's two very close to the new york stock exchange. they looked good. it he said 6:00 a.m. for those early risers. planes, travelers, we will talk jb hunt trels inrae,aversunc more next....
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and in europe, and it's quite interesting we decent see it in china. the reason why we don't see it in china, there is no such thing at least for the time being as inflation in china, so i think as long as inflation will be a factor for this group of customers we will not do miracles. >> that was the cfo of lmvh, parent company of dior. not mincing words when it comes to the impact of inflation on consumers even at the high end. higher sales from the company's core fashion and leather goods segments did offset falling sales in other divisions, particularly weak one was wine and spirits, champagne not doing too well. jewelry also came in weaker. same-store sales in asia excluding japan fell 6% in the first quarter, though the company did attribute that to chinese consumers spending more as tourists outside the country. meantime, japan sales up 32%, lifted by the weak japanese yen. lvmh not the only one to watch. "the new york times" reporting that the ftc is preparing to sue to block coach's parent tapestry's plan to buy capri sending a statement saying
and in europe, and it's quite interesting we decent see it in china. the reason why we don't see it in china, there is no such thing at least for the time being as inflation in china, so i think as long as inflation will be a factor for this group of customers we will not do miracles. >> that was the cfo of lmvh, parent company of dior. not mincing words when it comes to the impact of inflation on consumers even at the high end. higher sales from the company's core fashion and leather...
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europe has not seen that hook up. there's a great chart to look at for the major economies as to what's happening with inflation right now. all the way at the bottom that's china. we've got news overnight 00.1% cpi. they're in deflation. the only one of the major lines hooking back up is the u.s. and that's the darker blue one that you can see with a little curve up. europe has come down. uk has come down. they haven't really seen the flare-up that we've a seen in this country. just to put it in context, the last european inflation number their cpi was about 2.4%. they're running lower than we are and now their expectations that the ecb will cut rates. >> we all measure it thesame way. >> no. >> probably a different conversation, but jim was questioning some of the calculations and what is taken into account and not. taken into account the way it should be. >> it's fair to do that because even in the ppi, the wholesale look today the auto insurance number didn't look like the auto insurance number in the cpi. the pce,
europe has not seen that hook up. there's a great chart to look at for the major economies as to what's happening with inflation right now. all the way at the bottom that's china. we've got news overnight 00.1% cpi. they're in deflation. the only one of the major lines hooking back up is the u.s. and that's the darker blue one that you can see with a little curve up. europe has come down. uk has come down. they haven't really seen the flare-up that we've a seen in this country. just to put it...
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Apr 12, 2024
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a lot of americans going over to europe and buying thing there is, including real estate. a record number of americans are getting second passports to hedge their risks. according to henley and partners, the u.s. is the largest market for applications for passports and visas. the american wealthy are adding a second or third or fourth citizenship. they're called past port portfolios, and they're designed to hedge your risks over multiple countries. some cite politics or social unrest. others like second passports for safer business travel, especially to countries hostile to the u.s. >> the idea of diversification is very well understood by wealthy individuals around what i'm -- but it makes no sense to have one country of citizenship when i have the ability to diversify that aspect of my life, as well. >> america's favorite companies for second passports are portugal, malta, greece, and italy. globally, a record number of millionaires are expected to migrate this year, mainly out of china, russia and some other hot spots. the u.s. still has a net flow of millionaires with
a lot of americans going over to europe and buying thing there is, including real estate. a record number of americans are getting second passports to hedge their risks. according to henley and partners, the u.s. is the largest market for applications for passports and visas. the american wealthy are adding a second or third or fourth citizenship. they're called past port portfolios, and they're designed to hedge your risks over multiple countries. some cite politics or social unrest. others...
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in europe they're trying to pass laws to give a deeper look into how the models are trained, more trans transparency, and in general, companies like google and microsoft and openai are more resistant to that. basically, regulate us, but the way we want to be regulated. >> how much is the appetite of the lawmakers to move forward on this have to do with how much they're getting in campaign donations? >> you cannot ignore the fact all these tech companies have been pouring millions of dollars into lobbying on the hill, that they have connections in some cases to various staffers. they have staffers who go on to be lobbyists. there's an interconnected system here, at the same point, i don't want to negate good points steve is making, but part is the timeline. they spent six months trying to fund the government. that deserves its own analysis and criticism, but that needed to be done. >> do they have the basic understanding needed to establish a framework? >> i think there's a basic understanding there. it's a process. this is why a lot of legislation takes a long time to pass. because lawm
in europe they're trying to pass laws to give a deeper look into how the models are trained, more trans transparency, and in general, companies like google and microsoft and openai are more resistant to that. basically, regulate us, but the way we want to be regulated. >> how much is the appetite of the lawmakers to move forward on this have to do with how much they're getting in campaign donations? >> you cannot ignore the fact all these tech companies have been pouring millions of...
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you still have enough uncertainty priced in, within autos, within travel, especially airlines over in europe, again, assuming geopolitical risks don't explode, here very high quality airlines, those are companies trading at, you know, high single digit it multiples but other areas in cyclicals like i mentioned in construction, in industrials, in home furnishes, and machinery, you have high valuations on expectations that you're going to have these cuts come through and that's where i think that you're likely or -- you're likely to see disappointments. also i would say, given the dynamics in the market, there's still areas that are reasonably priced that are more defensive and not sensitive to interest rates going down. they benefit from rates going up. we continue to like insurance. certain areas with insurance you have in life insurance a major short report out yesterday. i don't know whether it's true or not. you had other insurers in the life insurance space sell off, and the fundamentals are fine and the valuations are not high. you have an auto insurance continuing to have a favorable b
you still have enough uncertainty priced in, within autos, within travel, especially airlines over in europe, again, assuming geopolitical risks don't explode, here very high quality airlines, those are companies trading at, you know, high single digit it multiples but other areas in cyclicals like i mentioned in construction, in industrials, in home furnishes, and machinery, you have high valuations on expectations that you're going to have these cuts come through and that's where i think that...
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Apr 16, 2024
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., as well as europe, in fact, germany's chancellor is in china. and was quite critical about what he described as china's overproduction. china, as you know, has been accused time and again of selling products overseas while using state subsidies to then flood the markets with chinese products. >> what accounts for these rather sharp declines in hong kong shares and others today? >> yeah, well part is because of what's happening overseas the middle east. there's a lot of concern there. but in addition, people were looking at these numbers and were concerned. they were hoping to see more strength and more direction from the chinese policymakers. now investors are looking to a big leadership meeting by the bureau, later this month, hoping for some signals. but so far the signals from president xi are that his efforts to really rely more heavily on manufacturing might not be going anywhere. he was defending china's efforts to supercharge its manufacturing, saying that china's ability to sell evs, lithium batteries, as well as solar panels is only goo
., as well as europe, in fact, germany's chancellor is in china. and was quite critical about what he described as china's overproduction. china, as you know, has been accused time and again of selling products overseas while using state subsidies to then flood the markets with chinese products. >> what accounts for these rather sharp declines in hong kong shares and others today? >> yeah, well part is because of what's happening overseas the middle east. there's a lot of concern...
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we have seen this come out of europe. how many times have you been asked, do you consent to cookies being, you know, put on your web browser? or do you consent to this or that and invariably like sheep we click, we click. we say yes, yes, yes. of course if you say no then the whole process ends. how do you get around that? >> well, this legislation also includes a provision that says you can't use nefarious ways to trick people or force them into accepting cookies. what we want is to make sure that the policies that companies have are clear and transparent and that they tell you what they're doing with your data. >> right. >> because what we're trying to stop is the voluminous amount of sale of data so i am profiled online that my health habits might be used against me, i'm prejudiced against insurance or a job or something dilatory to me. with ai exploding, we are concerned people might use these tools to create unbelievable things that might harm consumers. >> i want to thank you both for joining us. we will follow the
we have seen this come out of europe. how many times have you been asked, do you consent to cookies being, you know, put on your web browser? or do you consent to this or that and invariably like sheep we click, we click. we say yes, yes, yes. of course if you say no then the whole process ends. how do you get around that? >> well, this legislation also includes a provision that says you can't use nefarious ways to trick people or force them into accepting cookies. what we want is to make...
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take a listen to what company's director of global robotics told cnbc europe yesterday. >> it's a myth that technology robots take out jobs. the number you mentioned is already a demonstration of that. robots and technology help our employees by reducing work in distance, by taking away repetitive motion or by helping them to lift heavy weight. in turn, our employees can learn new skills, new competency, supply new capabilities that allow them to progress towards the career objectives. >> hundreds of thousands of people, obviously, employed in distribution centers owned by amazon. >> i was going to say, they have i think 750,000 robots and 1.5 million people. that jives with what he says. >> right. >> it takes away jobs from specific people, but look the auto plants, you know, integrated robotics decades ago. it's sort of a supplement. >> yeah. curious to see what it looks like. they are adding more robotics all the time. positive takes at least on the coming of advanced technology. larry fink saying ai won't take jobs. >> productivity. people make more and do more things. >> want to b
take a listen to what company's director of global robotics told cnbc europe yesterday. >> it's a myth that technology robots take out jobs. the number you mentioned is already a demonstration of that. robots and technology help our employees by reducing work in distance, by taking away repetitive motion or by helping them to lift heavy weight. in turn, our employees can learn new skills, new competency, supply new capabilities that allow them to progress towards the career objectives....
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we are talking to jeremy hunt, the german finance minister and see how europe hasn't grown in 18 months. what are we doing here and we hope to squeeze answers out of them. >> we look forward to it. thank you. >>> coming up, read on inflation from restaurant owner cameron mitchell and the ceo from johnson & johnson will join us. we'll be right back. trading at schwab is now powered by ameritrade, giving traders even more ways to sharpen their skills with tailored education. get an expanding library filled with new online videos, webcasts, articles, courses, and more - all crafted just for traders. and with guided learning paths stacked with content curated to fit your unique goals, you can spend less time searching and more time learning. trade brilliantly with schwab. >>> last week's inflation data showing food prices still elevated and hitting americans dining out. food prices outside the home have jumped 4.2% for the year. joining us is cameron mitchell. founder of cameron mitchell restaurants. great to have you. >> good to be with you. >> ywe mentioned the food costs on the rise, but
we are talking to jeremy hunt, the german finance minister and see how europe hasn't grown in 18 months. what are we doing here and we hope to squeeze answers out of them. >> we look forward to it. thank you. >>> coming up, read on inflation from restaurant owner cameron mitchell and the ceo from johnson & johnson will join us. we'll be right back. trading at schwab is now powered by ameritrade, giving traders even more ways to sharpen their skills with tailored education....
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i have been reading on europe and they are clearly concerned about that. on china, it is a slightly different thing. he was very eager to go strike deals with the chinese until covid happened. that's when he turned around. i actually think he would probably try to reengage with xi jinping. now, would he reiengage on the right issues? hard to know. >> would that solve or deal with the israel/iran issue? >> i don't think it would. the think the russians have more influence on iran. the reason i think the chinese would be perfectly happy to see trump come back is the trum p ea is the chaos era and they get to move around the world without his focus. >> david sanger, one of the smartest people i know. thank you. >>> coming up, we'll have the action to the escalating war in the middle east in the energy markets. that story is next. later, we hear from white house adviser john kirby in the 7:00 hour. dude, what're you doing? i'm protecting my car. that's too much work. weathertech is so much easier... laser-measured floorliners up here, seat protector and cargol
i have been reading on europe and they are clearly concerned about that. on china, it is a slightly different thing. he was very eager to go strike deals with the chinese until covid happened. that's when he turned around. i actually think he would probably try to reengage with xi jinping. now, would he reiengage on the right issues? hard to know. >> would that solve or deal with the israel/iran issue? >> i don't think it would. the think the russians have more influence on iran....
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this comes as tiktok rolls out a new app called tiktok light in europe. it gives users awards, financial rewards for engaging on the platform or inviting fan friends to sign up. it is in the early stages of experimentation with a new app called nodes that's for sharing photos with captions though the company says there are no plans yet to make it broadly available. this experimentation with formats similar to instagram and youtube comes at a time while time spent on tiktok flatlined in the past year compared to instagram's 10% growth according to sencensor tower. this is a change from the days when instagram and youtube were copying tiktok as short form format. >> it is you copy me, i will copy you right back. you guys came up with reelz. we will come up with our version of what you do. >> yeah. i think it is so interesting about the notes app. tiktok was very clear, there's a long way before we might see this app in the u.s., but it looks and feels a lot like what instagram is for, for sharing photos with a little text of a caption. now, of course, now i
this comes as tiktok rolls out a new app called tiktok light in europe. it gives users awards, financial rewards for engaging on the platform or inviting fan friends to sign up. it is in the early stages of experimentation with a new app called nodes that's for sharing photos with captions though the company says there are no plans yet to make it broadly available. this experimentation with formats similar to instagram and youtube comes at a time while time spent on tiktok flatlined in the past...