coming up later, colin langton of wells fargo. in the bond market, the 10 year yield unchanged. 4.1919. coming up we will catch up with anastasia amoroso about why she thinks markets are in a sweet spot. michael sheppard on bidens pushback come and jay bryson of wells fargo. we begin with our top story. stocks pausing ahead of the final inflation report. anastasia amoroso saying "since january we have seen economic data well above expectations. mainly jobs at inflation data, supporting the view the economy could be experiencing an acceleration. despite the fears of overheating we have seen data start to cool from the start of the year, indicating the economy may be operating in a sweet spot." anastasia joins us for more. is this why you are still constructive on this equity market? anastasia: the sweet spot is exactly how i characterize these markets. when you have good economic data the markets tear that because good economic data is good for profit margins. one of the things we have seen this year as the economy is stable and ac

morgan, citigroup is a turnaround story, wells fargo has been trading better, even bank of america.hink of the economy holds up it could be a pretty good sector with reach% dividends. jack: the big financial center banks are doing better than their smaller brother. >> alliance is winning the theme from the wells fargo bank analyst that has been the case. >> tech is expensive. >> you're talking about ten, 11, 12, 13 times earnings not all that expensive, these companies are basically from a regional bank peers right now. >> citigroup and wells fargo have things that they're working out, issues that they're working out. >> city is a self-help, wells fargo has asset cap which is lifted in a positive for them in morgan stanley and goldman sachs are placed on merger and revival of the share probably get water. they need more investment idea liberty mutual customized my car insurance and i saved hundreds. that's great. i know, i've bee telling everyone. baby: liberty. oh! baby: liberty. how many people did you tell? only pay for what you need. jingle: ♪ liberty. liberty. liberty. ♪ baby:

morgan, citigroup is a turnaround story, wells fargo has been trading better, even bank of america. the economy holds up it could be a pretty good sector with reach% dividends. jack: the big financial center banks are doing better than their smaller brother. >> alliance is winning the theme from the wells fargo bank analyst that has been the case. >> tech is expensive. >> you're talking about ten, 11, 12, 13 times earnings not all that expensive, these companies are basically from a regional bank peers right now. >> citigroup and wells fargo have things that they're working out, issues that they're working out. >> city is a self-help, wells fargo has asset cap which is lifted in a positive for them in morgan stanley and goldman sachs are placed on merger and revival of the share probably get water. they need more investment ideas and ben sasse watch out teslangi another ed maker in the fast lane. stay right there. arting it eight months pregnant... that's a different story. i couldn't slow down. we were starting a business from the ground up. people were showing up left and right. a

morgan, citigroup is a turnaround story, wells fargo has been trading better, even bank of america.he economy holds up it could be a pretty good sector with reach% dividends. jack: the big financial center banks are doing better than their smaller brother. >> alliance is winning the theme from the wells fargo bank analyst that has been the case. >> tech is expensive. >> you're talking about ten, 11, 12, 13 times earnings not all that expensive, these companies are basically from a regional bank peers right now. >> citigroup and wells fargo have things that they're working out, issues that they're working out. >> city is a self-help, wells fargo has asset cap which is lifted in a positive for them in morgan stanley and goldman sachs are placed on merger and revival of the share probably get water. they need more investment idea (♪) (♪) (♪) (♪) [car tires screeching] (♪) whenever heartburn strikes. get fast relief with tums. it's time to love food back. also available tums+ sleep support. jorge has always put the ones he loves first. but when it comes to caring for his teeth he's let

morgan, citigroup is a turnaround story, wells fargo has been trading better, even bank of america. the economy holds up it could be a pretty good sector with reach% dividends. jack: the big financial center banks are doing better than their smaller brother. >> alliance is winning the theme from the wells fargo bank analyst that has been the case. >> tech is expensive. >> you're talking about ten, 11, 12, 13 times earnings not all that expensive, these companies are basically from a regional bank peers right now. >> citigroup and wells fargo have things that they're working out, issues that they're working out. >> city is a self-help, wells fargo has asset cap which is lifted in a positive for them in morgan stanley and goldman sachs are placed on merger and revival of the share probably get water. they need more investment idea you always got your mind on the green. not you. you! your business bank account with quickbooks money now earns 5% apy. (♪) that's how you business differently. intuit quickbooks. with dexcom g7, the most accurate cgm, you can achieve diabetes results withou

morgan, citigroup is a turnaround story, wells fargo has been trading better, even bank of america.the economy holds up it could be a pretty good sector with reach% dividends. jack: the big financial center banks are doing better than their smaller brother. >> alliance is winning the theme from the wells fargo bank analyst that has been the case. >> tech is expensive. >> you're talking about ten, 11, 12, 13 times earnings not all that expensive, these companies are basically from a regional bank peers right now. >> citigroup and wells fargo have things that they're working out, issues that they're working out. >> city is a self-help, wells fargo has asset cap which is lifted in a positive for them in morgan stanley and goldman sachs are placed on merger and revival of the share probably get water. they need more investment idea (fisher investments) at fisher investments we may look like other money managers, but we're different. (other money manager) how so? (fisher investments) we're a fiduciary, obligated to act in our client'' best interest. (fisher investments) so we don't sell

. >> she was sure this text really was from wells fargo bank asking if she just sent $957 with zelle.i texted no. and then it said someone will be getting back to you. and then my phone rang. >> a man on the phone even gave a real bank employees name. he said someone kept charging her debit card. >> it's like, oh, there's another charge coming up here right now. you have to cancel your card. it at that moment it seems so for real, because it's your money. >> the man told her to log into her wells fargo account and quickly transfer the money through zelle, which eileen had never used. >> i said, well, wait, that doesn't make any sense. why would i do a zelle charge to counteract something? and it's like, man, it's getting reinstated. >> he persuaded her to make eight transfer years totaling $3,500, which is the daily limit for zelle transfers. >> all of a sudden, the phone went dead and i called back the number and no one answered. >> she contacted the real wells fargo. >> they're like, you've totally been scammed. the money is gone. >> the same scam hit thousands across the country. >

it is why wells fargo proudly stands as the presenting sponsor, a small business week in 2020 for our support extends to initiatives like vacant to vibrant, filling downtown storefronts with innovative, diverse and community building businesses. we've introduced hope inside at our bayview branch, offering one on one financial coaching to the community, aiding in debt reduction, credit score improvement, savings, general general wealth building and helping to realize dreams. our dedication to san francisco, also our home for 172 years, aligns with the enduring values of this city. while i may not have been around in 1852, when wells was founded, the chamber of commerce was there standing the test of time. as we embark on 2024, i embrace the future with excitement, acknowledging the formidable challenges we face today, grounded in the belief that infusing humanity to our solutions is a catalyst for transforming change. i am confident in our ability to unlock untapped potential. the present offers a unique opportunity. san francisco will undoubtedly rebound and as it has throughout its h

it is why wells fargo proudly stands as the presenting sponsor, a small business week in 2020 for our support extends to initiatives like vacant to vibrant, filling downtown storefronts with innovative, diverse and community building businesses. we've introduced hope inside at our bayview branch, offering one on one financial coaching to the community, aiding in debt reduction, credit score improvement, savings, general general wealth building and helping to realize dreams. our dedication to san francisco, also our home for 172 years, aligns with the enduring values of this city. while i may not have been around in 1852, when wells was founded, the chamber of commerce was there standing the test of time. as we embark on 2024, i embrace the future with excitement, acknowledging the formidable challenges we face today, grounded in the belief that infusing humanity to our solutions is a catalyst for transforming change. i am confident in our ability to unlock untapped potential. the present offers a unique opportunity. san francisco will undoubtedly rebound and as it has throughout its h

wells fargo is set to unveil a new credit card. the firm is planning to add $95 per year to its roster as soon this week. wells fargo will add transfer partners to its reward platform for the first time. the new card is part of the mission to make wells fargo a bigger player. jonathan: next on the program, waiting day one of chairman powell. >> it's not his opinion that he could express at the press conference. jonathan: a preview, up next, live from new york. morning. ♪ j.p. morgan wealth management knows it's easy to get lost in investment research. get help with j.p morgan personal advisors. hey, david! ready to get started? work with advisors who create a plan with you, and help you find the right investments. so great getting to know you, let's take a look at your new investment plan. ok, great! this should have you moving in the right direction. thanks jen. get ongoing advice; and manage your investments in the chase mobile app. jonathan: session highs up by 0.4%. under surveillance this morning, markets are waiting for a day

it's on the list of dozens of wells fargo locations the bank announced last month it does plan to closetarting monday. regular customers of the branch can use the wells fargo location on market street, which is about a block away. >> sonoma county animal services says their shelters are at a critical capacity level. >> yeah, and now they're asking for the public to help them by coming in and adopting an animal in need before national puppy day, which is tomorrow. >> abc seven news reporter tim johns was at the shelter this afternoon and brings us the story what? >> at sonoma county animal services, the shelters have never been more full. >> we have 118 dog kennels. and right now i want to say we have 2 or 3 that are actually open. >> over the past few weeks, an influx of new animals has overwhelmed staff, a trend that's played out across the county and the entire state, says emma demert. emma tells us in the year she's worked with animal shelters, she's never seen it this bad, especially with our rescue partners. >> so they kind of control the population of animals. they get in and to s

. >>> wells fargo back in the news, this time with accusations it overcharged members of the military and their families, a lawsuit in north carolina claims wells fargo did not reduce the interest it charged service members who were deployed, as required by law. wells fargo in an emailed statement says it's still reviewing the accusation. >>> venture capitalist david sachs speaking with our panel on press here, weighing in on the attack in russia. he said, quote, in the ukrainian government was behind the terrorist attack, as looks increasingly likely, the u.s. must renounce it. but isis has claimed responsibility for the attack. isis has provided the world pictures from inside the attack, and russia says it has arrested several of its members. the u.s. warned russia ahead of time isis was planning such an attack, but russia and sachs have pointed fingers at ukraine. >>> home sales jumped in february, according to the latest data, up 9.5%. this despite higher mortgage rates. the red hot market inspires more people to put homes on the market. house prices are up nationwide as well, mor

how far wells fargo sees the ev maker dropping from here, when "fast money" returns. and this must be the ocean view? of aruba? huh. this listing is misleading. well, when at&t says we give businesses get our best deal, on the iphone 15 pro made with titanium. we mean it. amazing. all my agents want it. says here...“inviting pool”. come on over! too inviting. only at&t gives businesses our best deals on any iphone. get iphone 15 pro on us. (♪♪) the future is not just going to happen. you have to make it. and if you want a successful business, all it takes is an idea, and now becomes the future where you grew a dream into a reality. the all new godaddy airo. put your business online in minutes with the power of ai. - "best thing i've ever done." that's what freddie told me. - it was the best thing i've ever done, and- - really? - yes, without a doubt! - i don't have any anxiety about money anymore. - great people. different people, that's for sure, and all of them had different reasons for getting a reverse mortgage, but you know what, they all felt the same about two

data from wells fargo show new business starts from 2019 through 2023 were up nearly 14% for women.about double what we saw for men. what's more, growth rates for revenue and employment are even higher for businesses that are boned owned by black and -- this is key for binses owned by women and minorities disproportionately impacted early in the pandemic and less likely to receive paycheck protection funding ruby taylor who is a former school social worker runs the financial joy school which aims to close the financial wealth gap and create a new generation of black investors taylor has overcome not only funding challenges but also a traumatic brain trauma in 2012 that drastically altered her life she learned about long-term investing from the parents of a former student and got her idea to launch her business from there. >> when my financial situation changed and i began to invest and then i saw my money grow, i'm like this is so dope so i am on a mission to create a financially equitable world where everybody can build generational wealth no matter your income. >> now, ruby gradua

join me now to break down what is next, wells fargo's chris harvey, welcome back.e of what has happened in mega cap lately, and what has help and -- happened elsewhere? >> if you have momentum, it is great. no momentum, not so good. everybody talks about the may caps, but if you look at the mega caps that are in the momentum and the ones that aren't, significant difference in year-to-date performance. apple, tesla, not in there, and the rest, they are having negative returns this year, the rest are anywhere between 25% to 29% on average. big difference. it is not just a large-cap issue, it is a momentum issue across the board and also goes down to small-cap. if you look at the return to russell 2000, russell 2000 growth, s&p growth, the big driver, supermicro. supermicro accounts for almost 100 of the year to date return. >> stock only moves 50% a day, one way or the other. >> are you positive on the market? one thing that is interesting to me - and it hasn't happened to everybody -- but, this market has turned bears into bowls. yourself, included. now, are you fee

this was the, the, the 2 men. janet, the shy of wells fargo will have the, the biggest issue with it's mostly slower each full insights into what you, what are the most nobody likes to renew the girls who are supposed to show us. and it goes to deal with because affinity swinging with to this level, the do still do this and the did 6 if you have to remove as soon as you get the one anything you have something. but what it says here is go back to store. so he built, i think he badge but he can do. absolutely. so assuming that you guys are interested in, but it seems that you're available for price is the see, right? got super easy financial financial in what way from as well. so make sure your voice comes to your computer or as of, of the me, editor of. so i want you to share your thoughts as important as the middle of the bible. the 1st one would keep up tuesday seems to be in the week of the week of the skipper, but here's what we're gonna pay them for you. the company, the, and the people who are part of the, of the voice of the, i don't have the most of the shania publicly. what sal

the downgrade from wells fargo int from neutral to sell. it is down from a $200. the stock is trading at $167. analysts are calling tesla a growth company with no growth. another hit from ubs this morning slashing from 225 to 165. also lowering the first quarter delivery forecast by more than 0, 30,000 units. tesla shares down 1.5% today. >>> here is a quick check on the pre-market leaders in thes that da nasdaq. hoo at the topis moderna and on semico semiconductor at the top of the board. >>> we are looking at the proper producer price report. the bench market creeping up about ten basis points this week following the hotter than expected read on inflation and in anticipation of the ppi. we will continue to watch yields throughout the morning. >>> that is the morning setup. let's turn to the developing story and capitol hill. ceo of tiktok responding to the house vote on tiktok. that vote could be the first step in forcing bytedance to sell or otherwise give up ownership of the social media platform. brie jackson is here with more. brie, 170 million users. a lot

we will speak with wells fargo on tesla.er calling the ev maker a growth company with no growth. that story coming up later. here's your bloomberg brief. >> a bill aims at forcing a sale of tiktok is moving forward. the house passed the bill by a vote of 352-65. it heads to the senate where its prospects are less clear. chuck schumer said he will review the bill. investors await the highly anticipated reddit ipo. the social media company giving guidance on its expectations. reddit is telling potential investors it expects revenue in 20 to grow by more than 20% versus the previous year. according to its filing with the sec in 2023, the company's our revenue just over $800 million. donald trump is starting to think about what his cabinet would look like if he is reelected in november. bloomberg's reporting the former president is set to be considering billionaire john paulson as his trickery secretary. other potential names in the mix have a poke -- robert lighthizer and billionaire jeff yes. >> you know how this is going ago.

what most of this was the, the, the, to the newest addition value of wells fargo. the company. just see what it was a slow age between 2. yeah. does that seem to where you wait on? well, i mean most nobody likes to renew the girls who are supposed to show us and it goes to deal with cuz affinity swain so with this is the, this is just the route because, you know, i mean anything you have something. but what it says here, go back to store. so he built, i think he said, but he, i believe. so assuming that you guys are interested in. but it seems that the show available for prices though. see, right. got super easy financial financial in what way from as well. so make sure, of course the girls are giving us a beautiful rest of the editor of so i want you to share your thoughts for me. just a simple the chat feature. all right, well let's keep up tuesday seems to be on the weekend or from advisor here. but here's what we're going to compare them for you. the company, the, i need people who are part of the, of the voice of the i don't have the most of the shania publicly for what th

what most of this was the, the, the to but the shy of wells fargo the company. just see what that was a slow age for us. yeah. does that seem to where you wait on the motion of what you actually knew the girl she was supposed to show us and it goes to deal with. cuz the funny thing that you saw with this is level and we still do this to free to you because, you know, i mean you can, you have something but what it says here, go back to still the, the page. but he, i believe, so assuming that you guys are interested in, but it seems like the show available for purchase the see, right. got super easy for us to function in what way from as well. somebody say, of course the regular computer or us of, of the me, editor of. so i want you to share your thoughts as important as the middle of the bible. but i want to keep up tuesday seems to be in the week of the week of the skipper, but here's what we're gonna pay them for you. the company, the, and the people who are part of the, of the of the, i don't have the most of the shania publicly salma last for sierra the unite

this was the, the, the 2 men. janet, the shy of wells fargo will have the, the biggest issue with it's mostly slower each painting. yeah. does that seem to where you wait on really? most of a lot of the girls who are close to shifts and it goes to deal with cuz affinity swain way too. so with this level, the boost will do that. did you get the route because, you know, i mean anything you have something but what it says here is go back to store. so he built i d bench, but he i believe. so assuming that you guys are interested in residents, the show available for prices the see what i got super easy financial financial in what way from as well. so make sure your voice comes to your regular computer or us of, of the me, editor of so i will need you to check on some uniform users just as important as the middle of the search feature. all right, well i'm gonna keep up tuesday, seems to be the one if we cannot get the pricing here, which is what we're gonna pay them for the the company, the i need people who are part of the, of the voice of the i don't have the most of the shania publicly, i

i could point out wells fargo or the retailers. more on those later. how about ralph lauren? then there is the run we got from mccormick today, the spice company. it joins hormel and general mills with an upside. that rallied more than 10%. food stocks, i thought you told me they were dead, jim cramer. no, i never said that. or, how about supposedly? right now their average store is doing a little over $3 million per year but typically is able to get that to 4 million. i can pick huge winners from energy. transportation, utilities, aerospace not to mention other retailers, insurers. how about the autos? companies that cater to small and medium-sized businesses, these are all popping. in short, there are simply too many winners to name right now. it's just a very strong market and it is a rising tide. commentators are somehow afraid to celebrate the strength of this market. i understand that as someone who is happen to say something really positive then the next thing you know is a negative, leaving them stuck with a youtube video that makes them look like morons. no one wants

we haven't gotten back to this wells fargo downgrade.company with no growth seems to be one of the key thesis they are laying out there. growth in core markets is moderated with eu and china flattish in the last 12 months. u.s., down, this the second quarter as well. more concerning, they say, is the effect of price cuts are moderating with the second half volume up only 3% despite pricing that is down 5%, so the cuts resulted, obviously, in a reduction in profitability of as much as 6,800 per car. >> yeah. they go on to say that in the wake of price cuts, you wind up with, as they say, lower lease residuals. we've seen that at some of the rental fleets. disgruntled customers and the possible loss of the brand premium. they were at $200. it's not as draconian as the deutsche downgrade earlier in the week where they went to $218 but it's below bernstein, which has been at $150 forever. >> the radically cut earnings estimates in the wells fargo downgrade, they're looking for $2 this year. the consensus is $3.03. they're looking for $1.90 i

wells fargo. hudson bay trading company and famous early settlers one of whom william leaderdorph who lived blocks from here a successful business person. african-american decent and the first million airin california. >> wilwoman was the founders of san francisco. here during the gold rush came in the early 1840s. he spent time stake himself as a merchant seaman and a business person. his father and brother in new orleans. we know him for san francisco's history. establishing himself here arnold 18 twoochl he did one of many things the first to do in yerba buena. was not california yet and was not fully san francisco yet. >> because he was an american citizen but spoke spanish he was able to during the time when america was taking over california from mexico, there was annexations that happened and conflict emerging and war, of course. he was part of the peek deliberations and am bas doorship to create the state of california a vice council to mexico. mexico granted him citizenship. he loaned the

bailey: wells fargo downgraded shares to underperform, telling clients to sell the stock. i want to call this out. the analyst says elon musk' his company is a growth company with no growth, calling out that sales growth only rose 3% in 2023 while prices fell 5%. a lot of detractors around tesla. we have seen the stock dropped close to 30% to start 2024. when you see a number of analysts continuing to pound the table for the bearish side, that does stand out in a market that, for the most part, with the want to call it the magnificent seven or the fab five if you strip out tesla and another company, it is showing up in that irish call from wells fargo, weighing on tesla shares this morning. katie: tesla shares continuing to fall out of bed. but it looks small when you look at what is going on with dollar tree. bailey: a double-digit move lower for the company, reporting underwhelming results and outlook. they are going to close 600 stores over the coming month and year. 14% drop is really a sharp move lower for investors. they have been buying into the rally over the last

this is just the simple spoke with miss wells fargo was follow up with the me issue the follow up the for to be the police of nevada. let me or i'll talk to you guys. if you decide you just focus commissioner calls before you got that done, please got found the thing, the photos for the website ill be part of the one that was done beautifully scheduled as well. do you have the uh, the instructions you guys are the human as the mother? no guys the she has must push it as an engine and would you mind for me all that back to you will just no, as long as but some sort of like a mind you know, for the glory of the beauty that you did this month was there let me see what when she was going to be at the city the what we uh see should be should be the dish. got what do you know mean yeah, but you want me to go out of square a couple of bullshit 3 bits. what about this question? on some of the the sure you're just showing store stuff, couple of steps towards the news, meals b 3, e c should be the same, the federal but it hasn't been set up yet because we've learned because because knowing how

police say these shockingly young bank robbery suspects are in custody, accused of robbing a wells fargo near houston. the fbi dubbing the 11, 12 and 16 year old suspects the little rascals. >> i was thinking either this was very low and sophistication, or maybe an adult had something to do with this. >> investigators say the boys, believed to be armed at the time, passed a threatening note to a teller. two of their parents turned them in after seeing their pictures in the media. the third suspect was tracked down by police. it comes amid a spike in crime, especially violent crime among juveniles in the area. >> in the last couple of years, the juvenile homicide rate has increased by 76% between 2021 and 2023, experts say older criminals are convincing kids to help them commit crimes, expecting the juvenile charges won't be as severe elsewhere in the u.s, crime on public transit has been in the spotlight. >> new york's governor even deploying the national guard to patrol the subway. despite the concerns, there's some good news when it comes to overall crime fighting efforts nationwide. a

it is why wells fargo proudly stands as the presenting sponsor, a small business week in 2020 for our support extends to initiatives like vacant to vibrant, filling downtown storefronts with innovative, diverse and community building businesses. we've introduced hope inside at our bayview branch, offering one on one financial coaching to the community, aiding in debt reduction, credit score improvement, savings, general general wealth building and helping to realize dreams. our dedication to san francisco, also our home for 172 years, aligns with the enduring values of this city. while i may not have been around in 1852, when wells was founded, the chamber of commerce was there standing the test of time. as we embark on 2024, i embrace the future with excitement, acknowledging the formidable challenges we face today, grounded in the belief that infusing humanity to our solutions is a catalyst for transforming change. i am confident in our ability to unlock untapped potential. the present offers a unique opportunity. san francisco will undoubtedly rebound and as it has throughout its h

fargo sco specialist clinical somebody the really this just happened to much to as a matter of and there's multiple scripts for the signature, right? so from the sale of the plan, the the yeah. when she was hired people that my wish was to got phone marks for the values . what's cool, things like that. you just look at way around and was, you know, did just as a follow up call for the so just asked me for my food category group or she's doing it for me for it. uh, i could you, me just keep that. but as long as i go through the process, introduce the solution barnett push to see what was the you wish of dealing with our biggest problem trip on the auto guide. so when you're talking about pulled out the blizzard, because you will continue to list it, you know? yeah, any fisher was, is the, the, i do, i do the, the, the, the engine, the syllable. cause let's do it just for future frontier to cause the sofa. jones is smoking for one of them over the stuff pressure to problem with the motion julia. this is kind of the thing that another civil fairly a lot the commercial so that you know, my so

paul: mandy wan cohead of aipac cib at wells fargo.oming up an interview with a key player in the chinese energy transition. wise abbas of the sea and pc institute thinks the country's oil demand has entered a low growth phase. president biden prepares to deliver his third estate of the union ahead of a likely rematch with donald trump. we look at what to watch on that address next. this is bloomberg. e you keeping as much of your investment gains as possible? high taxes can erode returns quickly, so you need a tax-optimized portfolio. at creative planning, our money managers and specialists work together to make sure your portfolio and wealth are managed in a tax-efficient manner. it's what you keep that really matters. why not give your wealth a second look? book your free meeting today at creativeplanning.com. creative planning -- a richer way to wealth. you have to make it. and if you want a successful business, all it takes is an idea, and now becomes the future. a future where you grew a dream into a reality. it's waiting for you

a report from wells fargo found dwindling supply around the world is causing cocoa prices to skyrocket. the price has more than doubled over the last year. part of the supply issues have to do with climate, including diseases brought on by heavier rainfall. that looks good. heavier rainfall. cocoa tree farmers in west africa are dealing with dry temperatures and extreme winds from this year's el nino. look at that cookie, look at that chocolate. so good. thanks for watching, the news continuing on pix pl , announcer: it's time to play "family feud"! give it up for steve harvey! [cheering and applause]

wells fargo has a 10 and-a-half percent loan loss reserve.n 10 and-a-half percent. the banks have equity ahead of them. it depends where you are in the capital stack but i also want to get to the stocks, maria. because the headline risk to these challenges for individual companies is enormous. i was watching the key bank index while the news of new york community was hitting the tape. you can see the banks going down. our view is there are trough if phis on sale. -- trophies on sale. we had a conference. i spoke to one ceo from montana. he has no rent controlled loans on his books so there are a lot of really well-run regional banks and the bigger banks have much less commercial real estate exposure. we like trueist, for example, we like u.s. bank corp. had hamaria: what about the prs in terms of oversight? we're watching the basel 3 end game right now, the banking regulations and we've been talking to a lot of people about the banking regulations. here's what the wall street journal writes, the banking regulations will not address some root

ge shares hitting their highest levels in nearly seven years today, after wells fargo upped its priceare. that's 11% above today's close ge shares already up 41% in 2024 it's the fourth-best performer in the s&p this year does it have the juice to keep the impressive run going tim, you had been in this name at one point in time >> i'm afraid this is a case of sometimes selling upside calls, you think you're a genius after a big move, and i got called away probably 40 bucks ago in the stock. and larry kulp deserves a ton of credit this is a guy that walked into a disaster, where they had to refocus the business, there was certainly, i think, some acquisitions that were either questionable or didn't make sense. they've spun off assets, they've consolidated in key areas. obviously getting back to their core knitting and certainly that core knitting in the industrial space is where you want it it's probably going higher, given what's going on with industrials, but i'm not chasing. >> see what's happened to ge over the last couple years, probably mired in the $40 change and you see where i

a recent report from wells fargo found dwindling supply around the world is causing cocoa prices to skyrocket. >> the price of cocoa has doubled over the past year. part of the supply issues have to do with climate, including tree diseases brought on by heavy rainfall. coquetry farmers are also dealing with extreme wind from this year's el niÑo. paul, we are on the verge of the spring equinox. dancing around stonehenge with flowers in her hair . >> wow, he is. >> we can make it. >> eight hours and 23 minutes to fly to the other hemisphere. >> i will be there filming it. >> i am sure there is something related going on around the bay area. >> hasty plans being made for the evening. 8:06 p.m. is the spring equinox, and it felt like spring away from the water today. onshore breeze kept things cool on the coast. we will be in this same pattern for the next couple of days. generally calm weather with high pressure in the atmosphere overhead. a of air has camped out, keeping the marine layer compressed, making a push into the inland valleys by early tomorrow morning. storm system over the pacific w

stuart: how about tesla this morning, does wells fargo think the stock's done falling?l rating, and they say the stock is going to 125 so, no, they're going to continue to sell off. the issue, according to wells fargo, is all these price cuts are not or have stopped juicing demand. they say volumes this year will be flat and they'll be lower in 2025. so those are their delivery concerns for tesla. there is good with news in all of this. i mean, you have dan ives of web bush keeping his $315 price target. he's bullish. saying, look, i bet on musk. this negativity is overdone. i bet you that elon musk is in germanyed today at the berlin factually where there was the fire -- factory where there was the alleged arson attack because that plant is back online. and i bet he shows up and has something to say about what happened there. stuart: all right. eli lilly and amazon, i know they're partnering. what are they doing together? lauren: drug delivery like zep bound, weight loss drugs. that's a big reason why eli lilly launched their direct to customer service that amazon is d

tracie mcmillion of wells fargo and why you should reduce risk. and poonam goyal.able to engineer a soft landing? powell and bostic are on top. how overwhelming is the enthusiasm of the last week for this market? mohamed: initially we had bottom-up drivers circular themes that were powerful but that rally was mayor -- narrowing and now we have a top down factor enabling central banks that are clearly going to do what they want to do regardless of selective data. these two things are really powerful. jonathan: we did the pregame together but not the post game you were with is going into that press conference were you surprised by that press conference? mohamed: i was surprised at the way he stressed patients into ways with inflation running higher, he dismissed the fact that we had surprising hotter than expected balance sheet. he said we may get there slower that monetary policy will see more action than otherwise. on the balance sheet he took such a big step forward when he could've waited until the next meeting. lisa: what she was going to drop? everyone is bulli

former cis for wells fargo and leuthold group, jim paulsen. look at you, you're doing great.emi retirement is doing you pretty well. i got to talk try that. what are your thoughts for people who really still anter sure? >> well i think there is on really good things around this. i think it is more a sustainable secular bull than a short-lived event. we're a little over one year into a new bull if you think about it, charles. you mentioned we had a bear market in 2022. we had a 20%er in 2018. 34% in 2020. 46% in 2022. really rare to have three bears in that short period of time. i think you have a lead up to a market that is bubblicious or overdone. the s&p right now, 9% higher than it first was 27 months ago? it hasn't really been on fire. i think there are some good things here. i think we have a cultural mindsets, i don't mean investor sentiment, that ebbs and flows. things like consumer confidence, small business sentiment, even ceo confidence index they're all still pretty low, pretty modest, pretty cautious. which is a good thing. if you improve cultural mindsets it will

up was, was that wells fargo recording that you hear when you call customer service.er man picked up saying he was working with the ftc to investigate the child case. >> he emailed her this letter as proof, and they kept saying, we don't want to scare you, but this is a very serious issue. he said judy needed to put $20,000 into an escrow account to stop the hackers from spending her money on child, so judy drove to the bank. >> so after i took the money out of the bank, he he's on the phone with me the whole time, and i checked back with him and say, okay, i have the money now, what do i do? and then he said that he was pretty sure that he could get an agent to come to my house and pick up the money. >> the man told judy not to speak with anyone. mobster were watching. everyone was under surveillance. i did get the phone call from my daughter. >> i said, i can't talk to you right now. i was afraid to say a word to anybody. my own daughter. >> the man told her she had to seal the cash in a box and wait. >> so i went out around the house and i found an old shirt box le

up was, was that wells fargo recording that you hear when you call customer service. >> another mand up saying he was working with the ftc to investigate the child case. he emailed her this letter as proof, and they kept saying, we don't want to scare you, but this is a very serious issue. he said judy needed to put $20,000 into an escrow account to stop the hackers from spending her money on child, so judy drove to the bank. >> so after i took the money out of the bank, he he's on the phone with me the whole time, and i checked back with him and say, okay, i have the money now, what do i do? and then he said that he was pretty sure that he could get an agent to come to my house and pick up the money. >> the man told judy not to speak with anyone. mobster were watching. everyone was under surveillance. >> i did get the phone call from my daughter. i said, i can't talk to you right now. i was afraid to say a word to anybody. >> my own daughter, the man told her she had to seal the cash in a box and wait. >> so i went out around the house and i found an old shirt box left over from ch

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wells fargo. hudson bay trading company and famous early settlers one of whom william leaderdorph who lived blocks from here a successful business person. african-american decent and the first million airin california. >> wilwoman was the founders of san francisco. here during the gold rush came in the early 1840s. he spent time stake himself as a merchant seaman and a business person. his father and brother in new orleans. we know him for san francisco's history. establishing himself here arnold 18 twoochl he did one of many things the first to do in yerba buena. was not california yet and was not fully san francisco yet. >> because he was an american citizen but spoke spanish he was able to during the time when america was taking over california from mexico, there was annexations that happened and conflict emerging and war, of course. he was part of the peek deliberations and am bas doorship to create the state of california a vice council to mexico. mexico granted him citizenship. he loaned the

caroline: joining us is winnie cisar credit sides and maureen o'connor of wells fargo.s you see the economic data appease investors, what does the issuance calendar start to look like over the next couple months? maureen: the conditions in our market have never been better in the last 24 months to issue debt. while we are not at the lowest coupons we are sitting at the two year heights and spreads. if you buy into the narrative will be up against economic slowdown in the back half of the year that should put pressure on spreads fundamentally. no better time to de-risk your plans and get something done. that is why we are looking at our busiest ever first quarter. our expectation is that likely continues through the first half of the year. there are unknowns of the second half of the year. we are heading into an election cycle. it will be tricky never getting this new monetary policy regime but borrowers are finding an opportunity to tap into what her exceptionally strong demand dynamics. as long as the market holds up over the next couple of months it will still be an a

including this san jose wells fargo bank were investigators say they got away with $1000 on february 12. last week police arrested 37- year-old brandon lopez at his antioch home as a primary suspect in the robberies. the later officers arrested 43- year-old tamara busch also of antioch for allegedly driving the getaway vehicle for all six crimes. that included robberies or attempted robberies at banks in san jose milpitas fremont modesto and sacramento. police say in each case lopez would hand this note to a teller which reads i need all the money in both your drawers. be quick no games. one bank customers that the motive seems simple it is right in the note. >> they are wanting money. bottom line.>> bank robbery just sound kind of strange. >> >> reporter: a search of lopez's residence turned up an unregistered loaded glock and numerous rounds of ammunition. the police say they aren't sure if lopez ever brandished a gun at any of the banks and no bank cash has been recovered.>> it seems really odd. you don't hear about bank robberies very often anymore. it reminds me of something tha

. >> "the david rubenstein show: peer to peer conversations" is sponsored by wells fargo. we are helping our clients forge what's next. ♪ david: let's talk about your background for a minute. where were you born? thomas: i was born in germany. david: where did you go to school? thomas: your dusseldorf, in germany, and spent all my childhood in germany. david: you were a german speaker, i assume. thomas: yes. david: did you learn french as well? thomas: i learned french in school. it was my third language. at the time i did not know how valuable it would be that i learned french. david: in the united states, you often hear people saying i want my little boy to grow up to be an investor. they want them to be a doctor or lawyer. you never hear them say you want my boy to grow up to be an entrance person. did your parents tell you to be in the insurance world? thomas: not at all. after i finished my studies, i was not really ready to decide in which industry i went, so i went into consulting to prolong a little bit the journey and test certain industries. during that consultin