goldman sachs is set to report after the open today. better than expected results from citi on friday. goldman kicks off a big week of region and bank. let's bring in hugh son with the latest. hugh, always good to have you on. >> good morning, frank. i'm looking at goldman sachs and in particular if you look at what happened on friday, that's jpmorgan chase and citigroup both shooting the lights out with investment banging. y banking. they guided up 30% higher with the investment fees a few weeks ago and they ended up being higher 50% to 60% respectively with iv feefees. that was a huge driver. goldman sachs is the premier advisory group in investment banking. you would be disappointed if they didn't have a similar overperformance in the investment banking arena. trading did well. lots of debt action as companies were tapping capital markets. beginning of the glimmer of the increase in the ipo market. there is lots to be excited about if you are an investor in goldman sachs or morgan stanley. less if you are an investor in main street b

goldman sachs is the latest driving better than expected results.avid solomon says they remain constructive. >> there is stability and applications -- the expected trajectory improved and equity markets remained their all-time high. tom: charlie, talk about what we saw, goldman tends to leave, -- lead but as far as and were looking for boost from the market and healthy wealth management. >> thank you indeed with a breakdown across yesterday. charlie, thank you. coming up, the luxury sector in focus. it has something of a china problem. we will break that down and give you the context. that is next. this is bloomberg. ♪ tom: the swiss luxury company saw continued weakness in asia. let's bring in our bloomberg opinion columnist andrew. challenging day in europe in terms of losses. it seems like in terms of the number the exposure to europe is ok but asia and china is a challenge. >> for the last few months we have been up against this time when we were in a hopeful time that china had reopened, it was going to continue. it did not continue. it weakene

let's go chronologically starting with goldman.hey turned in what i said is a good solid report a top and bottom line beat that was strong enough to send the stock up over $12 from nearly 2.6% on monday. another 2.19% today. hitting new all-time highs in the process. wow. although some of that likely comes from the new consensus that we're headed for a second trump presidency. with a lot less onus regulation expected for all the banks including invest. banks and still gold man's numbers were excellent. 14% revenue growth and two major segments beat expectations and global banking and asset wealth market up 27%. i did work there and that's great numbers. within global banking and markets goldman's fixed currency was up 17% and equity trading up 17%. the only miss within global banking and markets was in investment banking business. within investment banking up an astonishing 35% and both above expectations but the financial advisor business came in weaker. only up 7%. that i didn't understand. this was a good quarter but it could ha

goldman goldman sachs will release their second—quarter earnings on monday — with revenues forecast toer 15% year—on—year. on tuesday — we'll hear from bank of america. first first quarter profits fell 18% due to rising expenses caused by high rates. also on tuesday — investment banking giant morgan stanley will release their financial report card — with revenues expected to rise. for a closer look at the us banking sector, — let's speak with cyrus darawala from idc financial insights. thank you forjoining me today. let's get your take on what to expect from the latest earnings from us banks when they are released. from us banks when they are released-— released. sure. good to be back. released. sure. good to be back- the _ released. sure. good to be back. the majority - released. sure. good to be back. the majority of - released. sure. good to be l back. the majority of reports so far have been lackluster, and reason for that, though the banks have posted slightly better than expected profit, some half of them, half of them not, it is the longer term view that concerns us. as of right

dani: goldman -- yahaira: goldman sachs trading power a surgeon earnings.er than earnings posted a year ago. all parent alphabet is in tops for its biggest acquisition ever. sources telling bloomberg the tech giant is aiming to buy cybersecurity startup wiz by as much as $23 billion. the acquisition would help google compete with microsoft and amazon in a competitive cloud market. blackrock says the 20-year-old gunman who shot and injured former president donald trump was featured briefly in an ad for the money manager. thomas matthew crooks was one of several students who appeared in the background of a 20 at and was unpaid. -- the 2022 ad and was unpaid. the ad will be removed from circulation. jonathan: coming up we will catch up with retired secret service agent jeff james. trump's ambassador to switzerland, edward bollen, and jim caron of morgan stanley as global investors ramp up the so-called trump trade. up next, the secret service under pressure. >> there is no way to catch this any other way than there was a security failure. there going to be har

goldman was fine. black rock was fine. so you've got companies that have been regulated heavily and that would be the health care companies and also, by the way, the drug companies. but on the other hand, trump has never been a fan of the drug companies. i heard people say this is the time to buy crypto because at one point president trump said crypto. i think this is the leap too far. i think if you want to buy the banks, buy the banks because the earnings per share are better, in some cases they weren't. if you wanted to buy the health care companies, take your time. united health has been in the cross hairs of the current president. this is not the time you can say what a great time to get into united health. and the drug companies, if you're buying into drug companies, understand that when president trump was running the first time, and i'm calling him president again because he was president, that he said, listen, i'm the most anti on drug companies. he never wanted medicare to negotiate that i know of and that was a

. >>> fred goldman, the father of ron goldman, has filed a creditor's claim against the estate of o.jfor $117 million. simpson was acquitted of the murders of his wife nicole brown simpson and her friend ron goldman in 1995. he was found liable in a civil case and ordered to pay the families nearly $34 million. goldman's attorneys say the claim consists of the balance plus interest. >>> flash flooding hit dolly parton's amusement park. there was one minor injury. the park is back open. but some of the areas of that park are still closed. >>> still to come, the promising new test that could detect colon cancer earlier than ever. >>> but first, the u.s. women's rugby team is on the hunt for the first-ever medal today. we'll take a look at what it takes to win. '6 (♪♪) when life spells heartburn... how do you spell relief? r-o-l-a-i-d-s rolaids' dual-active formula begins to neutralize acid on contact. r-o-l-a-i-d-s spells relief. are you tired of your hair breaking after waiting years for it to grow? new pantene with more pro-vitamins, plus biotin & collagen. repairs as well as the lead

in march 2023 , the court sentenced goldman to a fine of 90 thousand rubles.case was opened for fraud on an especially large scale, and goldman was put on the wanted list. in a detention center for shaurba in moscow, the court was deciding the issue of arresting the owner of a catering outlet in which almost two dozen people were poisoned, fast food was prepared in severe heat in terrible unsanitary conditions, which led to dire consequences, details from olga muzurak. lowering his eyes to the floor, eldar sardarov enters the hall of the temeryazevsky court of the capital, i am already obediently obeying the actions of law enforcement officers, it was not possible to hide, the man was caught almost immediately, now he is already talking with the lawyer. they bought shawarma, once the sign was lit, inviting customers, now it’s only a sign about temporary repairs, probably this way the owner of a 24-hour catering outlet wanted to cover his tracks, it didn’t work out, now it’s blue the canvas is complemented by this seal from rospotrebnadzor, the people who work

jpmorgan, goldman also higher. goldman had earnings, we'll have more on that later.le percent. netflix on analyst commentary and tesla after musk's endorsement verbally and monetarily of donald trump. the shares are up another 4%. let's get down to mike santoli at the new york stock exchange. markets are picking up where they left off and also with extra steam. >> picking up where they left off last week with dramatic rotation into areas of the market that have not worked principally for the past few months. that would besmaller stocks, average stock on the s&p 500, more cyclicals and financials. the index are off their highs. intraday records earlier today. you still see that pronounced relative performance. there's the russell 2000 small cap relative to the s&p 500 over the last five days. so, if you really went down the line, investors in the last several days have gained conviction on several things. obviously, inflation seems to be more persistent in a downturn, therefore more conviction the fed can ease. after this weekend and given what's going on in terms of

goldman sachs adding another 62 points.d that's all part of the story. 30 minutes into the trading session. here are movers we're watching. shares of tinder parent match group in the green after activist investor starboard value built a stake of more than 6.5% in the name. got some reporting on what they're after there and i'll bring it to you in just a moment. more volatility hitting shares of trump media ticker djt, still up tunnel digits despite a fall this morning. watch the financials, bank of america, morgan stanley, charles schwab on the move after results. bank of america up 4% and brian moynihan will be with us later on this show to break down the numbers and what it says about the environment. >> busy morning with retail sales and business investors. let's get to rick santelli. hey, rick. >> good morning, carl. business investors for the month of may, expected to be up 0.5% delivered. up 0.5%. what's unique here is that's the biggest build in business inventories going back to august of '22 nearly two years. yield

congressman goldman, we appreciate your time.where do you see this tonight as the president gets ready to meet with democratic governors at the white house? >> well, look, i think this is actually a very healthy democratic process that has not really existed in the republican party and there are lots of discussions. joe biden as president has said himself that he had an off night, but he indicated it was an aberration. the american people want to see that it was an aberration. and the president has scheduled several opportunities over the next several days to get out into the country to have an interview on television, to meet and speak with folks in wisconsin and pennsylvania and, perhaps, elsewhere to show them that it was an aberration. that that was just simply a really off night. and that he is certainly up to the job and it's far more up to the job than his opponent. who on that same debate stage lied right, left, and center made it very clear that he was putting himself over the country whereas joe biden as we all know has

goldman sachs is in the spotlight today was second-quarter results out.k of america will be sending reports tomorrow. let's get more from charlie wells and break down the results we have seen from big lenders already. let's start with where the focus will be when it comes to goldman sachs. charlie: all eyes are going to be on investment banking revenue. the question is, we know that is probably going to be very strong, what we saw in previous reports from citigroup, from j.p. morgan, that investment banking revenue beat expectations significantly. but i think gold men, do they have momentum going into the second half? we have been talking about how the deal pipeline is stronger, but does management give better guidance than we have expected? tom: is this going to be one and done? or is the momentum there for more? how is it going to be stacking up for you and the team as you try to get a grip of the story? charlie: we are in the eye of the stories. we are about halfway through. we've got bank of america coming on tuesday. management has said net income co

goldman sachs and blackrock reporting eps beats.that stock along with jpmorgan and the xlf hitting records today. blackrock closing slightly lower. look at the regionals. the kre up nearly 3% today, hiting its highest level since mid december. morgan stanley, bank of america reporting tomorrow. can the financials continue to climb? goldman sachs achieving their strategic initiatives. they're on track. >> they've made some mistakes. they're also trading at an all-time high, so, good for him. if you pull up a stock during his leadership, it's done extraordinarily well under that 5 1/2, now 6-year period of time. good for them, and i this i the stock continues to work in this environment. i'll say this quickly about bank of america, as it made a multiyear high today. it's getting towards price to book value that we haven't really seen in bac in quite some time now. america it deserves a higher multiple than citi, which it gets, but at some point, it's getting a little too expensive. personally, i think 42 nat1/2, i think it's gotten a

paul: santanu sengupta of goldman sachs. menaka will stay with us for more india coverage.will talk to the joint ceo of indian steelmaker jsw steel. we will discuss their wish list as well as growth strategy after reporting a first-quarter earnings miss. that's coming up next. this is bloomberg. ♪ the future is not just going to happen. u 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. paul: welcome back to bloomberg markets: asia. you are watching the india focus. here's a look at indian markets ahead of the open. just over one minute to go, premarket looking pretty healthy. the sensex up by about one quarter of 1%. we will keep our eyes on jsw steel. we are hoping to speak to the joint ceo shortly. he does have other commitments as well. there's also of course budget day. things are tracking a little sideways as we await the finance ministers announcement. on that note, let's get more on the

we cannot blame goldman, we cannot blame enlightenment. we cannot blame any other country. we have to blame otis's. so then for spiritual wisdom, it disappeared to the fog in the mind and eclipse clarity, you're going to, the vision makes me feel that there is no problem in the the to hello and welcome my name is on them to make them do my show bad for the next off and on, we're going to be talking all things in the audit with a very special guest is a distinguished spiritual leader and, and i'm going to advocate with a known for his task formative teaching and leadership award winning, global and equal village welcomes you to go to good us. thank you so much. sherry durronda, das, as an indian institute of technology graduate, turned amongst spiritual leader and environmental advocate. he's renowned for his influential role within the international society for christian to consciousness or east con, and it's award winning good are done. echo village project. grown good task is also a highly sought after motivational speaker, known for his ability to articulate the principl

by goldman sachs came with a report that between 2015 to 2025. the infrastructure then for an investment required. and then that would be almost $1.00 trillion dollars. and where that money would come from to $800000000000.00 that would come from family savings. no family savings will only happen when that is family feeling. and part of was practically having that family bonding time, literally based on cultural tradition, spirituality, the various festivals. and they've been all part of the ecosystem to bring people together. and that is the foundation of spirituality. and then that is automatically sustainability and social impact. so these like books look for to a known for students on detroit, which was known for more to god for they have all become no ghost, don't see why manufacturing can change and then it can be computed relevant. but what am i see modeled? i see it on gum, but in the oven, these are all it would have green and green because this particular downs, but they will not inch. that's amazing. but what, what do you think the bas

we cannot blame goldman, we cannot blame and vitamin. we cannot blame any other country. we have to blame otis's. so then for spiritual wisdom, it disappeared to the fog in the mind and eclipse clarity, you're going to, the vision makes me feel that there is no problem in the the to hello and welcome my name is on them to make them do my show bad for the next off and on, we're going to be talking all things in the audit with a very special guest is a distinguished spiritual leader and, and i'm going to advocate with a known for his task formative teaching and leadership award winning, global and equal village welcomes you to go to good us. thank you so much. sherry durronda, das, as an indian institute of technology graduate, turned amongst spiritual leader and environmental advocate. he's renowned for his influential role within the international society for christian to consciousness, or east con and its award winning guitar done echo village project. corranio das is also a highly sought after motivational speaker, known for his ability to articulate the principles of b

we are alive hearing from celine from goldman sachs next.>> welcome back to daybreak europe, happy thursday. the olympics opening ceremony is tomorrow night, bringing in 10 million boroughs -- euros. let's bring in caroline connor for a preview with great guests. >> one day before the opening ceremony and what better person to talk to them goldman sachs cohead. thank you for joining bloomberg tv. >> good morning, nice to see you. i would not say the wall street lineup is here, but it is a huge pleasure. >> you will clients meetings, executives are here. one month of political uncertainty in france, is that over? >> the latest political developments where unexpected and we are waiting to see what government we will have. i do not think it will change policy because greg's it moves where decided a long time ago and it translated into moving 420 people. it created volatility and might delay transactions. >> ok. does that mean we are going to have this delay until we get more clarity? guest: i expect uncertainty to lift after the olympics when t

we cannot blame goldman, we cannot limit vitamin. we cannot blame any other country, we have to blame our sales. so i would say that that is the 2nd most important challenge across all age groups. very, we need to help people improve their lifestyle. therefore the government has come with his life a better time. he does live style for enlightenment following a proper life day, which is enlightenment finley, which is human friendly and which is personality for and the also. so i think all of this put together needs to be addressed. so if one has a hard, when you over to sales hard money with nature and hard money with the community, these 3, if they are integrated, then i think we'll be living in a much better environment. so is there a place for us, for the jet or dean politics? yes, of course you know that because christian essays and get the email was what they were yoga broke the one who said that this knowledge you remember i did as she will be do this knowledge was spoken to the roger the she's so the king had 2 functions can yo

by goldman sachs came with a report that between 2015 to 2025. the infrastructure, the infant investment required. and then that would be almost $1142000000.00. and where that money would come from an $800000000.00. so that would come from family savings. no family savings will only happen when that is family feeling. mm hm. and part of was practically having that family bonding time. literally based on cultural tradition, spirituality, the various festivals, and they've been all part of the ecosystem to bring people together. and that is the foundation of spirituality. and then that is automatically sustainability and social impact. so these like goods book for, to a known for students on detroit which was known for the modern god for they have all become no goose, don't see why manufacturing can change and then it can be computed relevant. but what am i see modeled? i see it on gum, but in the oven, these are all it would have green and green because this particular don't deal with not inch. that's amazing. but what, what do you think the basic

we cannot blame goldman, we cannot blame and let them, and we cannot blame any other country. we have to blame otis's. so then for spiritual wisdom, it disappeared to the fog in the mind and it creates clarity and you're gone to the vision makes me feel that there is no problem in the the to hello and welcome my name is, i don't know if i'm kids that come to my show bad for the next often are we will be talking all the things in the audit with a very special guest is a distinguished spiritual leader and, and i'm going to advocate with a known for his task formative teaching and leadership award winning go to an equal village that it comes, you to go to good us. thank you so much. sherry durronda dice is an indian institute of technology graduate, turned amongst spiritual leader and environmental advocate. he's renowned for his influential role within the international society for christian to consciousness or east con, and it's award winning give our don echo village project. garage das is also a highly sought after motivational speaker, known for his ability to articulate the

thanks. >>> coming up, david solomon from goldman sachs. stay tuned.to come this morning, we have goldman sachs ceo, david solomon. he's on set with us right now. we will talk about his firm, the markets and the global economy much more. first, though, as we head to a quick break, take a look at today's big events. simone biles and usa gymnastics d da going for the goltoy. and regan smith and kaylee set for an epic 100 meter backstroke style. good thing i had aflac. (aflac duck) hmmm the cash i got from aflac helped pay for medical expenses, groceries, rent. it really helped close that gap. (whisper) go, go, go! (group) yay! go aflac! go duck! get help with expenses health insurance doesn't cover. find an agent. get a quote at aflac.com. wish we had aflac on our team. you can! (♪♪) >>> welcome back to "squawk box." we are live in paris this morning, and david solomon, goldma goldman sachs ceo is with us. >> i think first and foremost, it's sport and it's bringing people together. one of the things for me so inspire something to watch all the people fro

we are also watching more second quarter earnings this morning, ramping up all week, goldman sachs will be out this morning. bank of america and morgan stanley will be out tomorrow. we'll get a window into earnings coming up. european markets this morning are lower across the board, take a look at the euro he zone with the ft 100 down 16, cac quarante down 28, dax index lower by 26. in asia overnight a mixed story, japan was down nearly 2 and-a-half percent, take a look at japan's k nikkei average down 2.45%, honk consistent down 1 and-a-half percent. joining the conversation all morning long, gop political strategist, mahek cook here, tricia a mclaughlin is here and cheryl casone is here. "mornings with maria" is live from milwaukee right now. and we begin with this fox business alert. president trump arriving at the republican national convention here in milwaukee last night, less than a day after an assassination attempt at his pennsylvania rally on saturday. the 45th president vowing the rnc will go on as planned with calls to unite, rather than divide the nation. fox business' grad

unitedhealth, goldman, boeing, unitedhealth, huge gain. 5% on the upside.uarter earnings. stuart: let's bring in senator john thune, the minority whip in the united states senate. it seems there's two wins to the republican party, old-style republicans, moderate and the m80 republican. has trump united the two sides? >> reporter: if you look at this convention as a ton of unity, people around the country are rallying around donald trump, his vision for the future, acknowledging this administration, the biden administration is the presidency, high prices and open borders and i think the american people want a change, they realize what they have isn't working, $13,000 more for year for everything than they did before biden took office so this is a time for change in the country and this is a party and a presidential candidate is going to articulate a vision this week to rally americans, unify americans and take us to a better place. the american people know it. stuart: if the trump/vance campaign wins in november, j.d. vance could become the 40 eighth preside

scarlet: you covered goldman sachs, morgan stanley. has the archegos disaster and the blowup impacted the way they operate? do you see them doing things differently as a result? >> it is hard to get a full window into what they are doing. in the immediate aftermath of the collapse, all risk management operations must have been on high alert. they were willing to look under every rock carefully. but the question is as we get further away, we are already three years past the archegos collapse. as we get further away, how long does this remain in your memory and how quickly does the allure of new promising attractive fees ensure that this fades away in the rearview mirror? scarlet: always good questions to pose, especially during bank earnings season. paul davies and -- on the archegos lessons banks may or may not learn moving forward. that does it for this hour of "bloomberg markets." we have green in equities right now with the s&p and nasdaq resuming their advance for this month. yields are coming down on the two-year and the 10 year 4

goldman sachs. tuesday, economic data with u.s. retail sales.anley and bank of america earnings. very interest-rate sensitive. wednesday, the fed releasing the beige book read per se, ecb decision and christine lagarde's news conference. netflix kicks off tech earnings. friday, fed speak from john williams and raphael bostic. my final thought. a look at the companies reporting earnings. goldman sachs, morgan stanley, bank of america. a lot of eyes on interest rate. a lot of eyes on the consumer. johnson & johnson, united. fascinating after what you saw with delta. what is the consumer doing? particularly after the weakness in the university of michigan data. american express are probably more interested than anyone else to kick off the week. not just because it is at the end of the week, but because the consumer is in hot focus. from new york, that doesn't farm us. same time, same day next week. this is "bloomberg real yield." and this is bloomberg. ♪ sonali: welcome to "bloomberg markets." i'm scarlet fu. we are roughly through halfway of today

we will hear from goldman sachs.hat is coming up in the next hour. >>> also, later today, mario gabelli will join us. a long time paramount shareholder to make sure the skydance-paramount deal is going forward. he will talk about whehat thinks about it right now. "squawk box" will be right back. and retirement savings. voya provides tools that help you make the right investment and benefit choices. so you can reach today's financial goals and look forward to a more confident future. voya, well planned, well invested, well protected. at pgim, finding opportunity in fixed income today, helps secure tomorrow. our time-tested fixed income suite, backed by over 145 years of risk experience, helps investors meet their goals. pgim investments. shaping tomorrow today. energy fuels, a leading american uranium producer, is ramping up production to supply expanding nuclear markets and diversifying into rare earth elements, key ingredients in many clean energy and defense technologies. energy fuels. want to save on some of the b

douglas goldman, jason and matthew's dad ran the festival for a quarter of a century. he said the idea was to bring joy to san francisco during the great depression. that is why one of stern grove's founding principals is that it be 100% free. >> you had musicians with what was then the opera symphony who were out of work during the summer. so, that was one part of the equation. it gave them an opportunity to work. >> reporter: what started with classical music now hosts some of the biggest names in pop, rock and edm. over the years it seen the likes of buddy guy, lyle lovett and the indigo girls. >> all of these giant trees on the hill, love it. >> reporter: these days, jason and matthew are focused on appealing to younger audiences. bringing in acts like bob mosses and tegan and sara, a pop dueo from canada. and even though they performed at major festivals, the view from this stage struck a cord >> this beautiful venue it is magic. i am speechless. this is incredible. >> the best job in the world when you get to play in a beautiful spectacular place >> for matthew a

>> that's what goldman was talking about today. >> there's been a detachment. we want the economic data to get cooler, but earnings data needs to stay strong, and it continues to been that way. i think this quarter stints to be that way as well. we get cooler data in the economy, it confirms that the fed can start cutting rates in september. stocks will cheer that, but the things i look at, even if we compare it to the mid 90 with his, we secured a soft landing, they started cutting rates when unemployment was 5.6% and falling. they cut rates into a strengthening labor market. at this point we just crossed above 4% in unemployment. we've been up for the last three months in a row. it will likely continue to weaken -- none of these numbers are concerning, but it will likely continue to weaken, and then it will cut into a weakening labor market. >> but weakness from a high level. >> from a tight spot, yes. >> the fed chair said, yes, it cool, but it's still strong, back in balance is the labor market. >> yes. >> it's not like it's falling apart, it's just slowing

do you agree with that sentiment from goldman?you want to be looking through your portfolio an weeding out companies that get the bull -- bulk of their sales from europe? >> the level of cash, they're ok. the level of spending should be ok. this is not fitting into the higher spending. the propensity is not realizing in europe. you should expect something from china. it is what we're seeing, the escrow recovery that we've expect expected that the market has been on the expectation of that recovery is not coming from the stock market as at the moment. >> what does that mean for the discount then? does that persist? there was some expectation that maybe we could get a bet of a close, the valuation gap between the european and u.s. stocks. what is your take when that turns? >> this was our expectation ahead of the -- ahead of the q.2. it delayed the recovery. we had a bit of septemberment that was capped on europe given the political risk and for europe to be outperforming we need to see more coming into the region -- region. and tha

robert goldman is a professor of low at american university in washington d. c. he's also faculty director, the war crimes and research office and co direct to w. c. l says 10 to 5 human rights and humanitarian law. a welcome to d w. professor israel says those deadly attacks on the safe zones and schools are legitimate because they were targeting how mass militants, what do you say or well, it will depend on the particular circumstances. obviously you cannot directly attack civilians. the law 4, however contemplates that civilians may become wounded or even killed. as a consequence of an attack against the law for military target. we have over 38000 deaths reported by the ministry of health from us. that's a somewhat misleading figure in the sense that includes from us fighters as well. the civilians who have directly participated in our stories. so even if you subtract 20 percent, it still is a very, very fight civilian toll. that said, this is an extraordinarily difficult to military environment. it is a densely populated area in the way from us has been slidi

devin with a big called on goldman sachs and david salman. that stock has been working.the markets right now. we've got about a half hour before the market opens. dow would open up about 150 points higher. nasdaq up 45 points, s&p 500 up about 12 points. we will once again also be watching the russell 2000 today, up now more than 7% over the last four sessions. the ten-year note here 4.2. the two-year at 4.47 and oil finally before we maybe get to joe's favorite crypto, are we going to show the board? we're going to flip it around maybe? we're going to run out of time if we don't flip it around. there it is. wti crude, $80.45. there's the currency check. flip it again one more time. show folks where bitcoin is sitting right now. >> weave got time. >> it's taking its time. is this a computer thing? >> it was 63,000 last time we saw it. >> there you go. >> you can put a man ton moon, supposedly. >> "squawk on the street" begins right now. ♪ >>> good tuesday morning. welcome to "squawk on the street." i'm carl quintanilla with jim cramer at post nine of the new york stock e

. >> you have some outperforms, bank of new york is one of them, goldman is another, truist is anotheru've got market perform. are you just luke warm on the segment right now? >> i think that's right. i think there's limited catalyst. until we get the yield curve, which is now inverted, i think it will be flat to slightly positive as we move through '25. i think we have to get through credit visibility and the different shape of the yield curve. i think what i'm trying to identify with all those outperform ratings are banks underearning for various reasons. and whether in the case of kia, bank of america, we think goldman is still in a restructuring phase with the consumer business. a big tailwind in capital markets. there's unique company catalysts in those names. for the group overall, we think investors are going to stay a little bit subdued with them until we get a better shape of the yield curve. >> thank you very much. have a great weekend. >> thank you. >> stay cool. >>> still ahead, digging in. president biden was defiant and mostly energetic in last night's press conference th

lauren, looking at goldman sachs? lauren: 474 was a high for goldman and hitted to and 472. this is ahead of friday's big bang stark reporting and kicking off earning season and investors are looking for clues first rate cut could be in september. david: taiwan semiconductor company? lauren: hitting $1 trillion and makes sense because it's the largest chip foundry and have two $3 trillion customers, app and will nvidia and they hit $1 trillion in valuation. david: good old dominoes pizza? lauren: 499 and upgrade to outperform and set ago price target of 580 and like the strategy. david: good stuff. lauren, thank you. jason, good to have you here. appreciate it. coming up, it's congressman chip roy planning to remove the president and planning to talk to fellow congressmen about it this week and the congressman is on the show and new report from cdo that the nationalize is on pace to reach a national crisis over the next four years. president biden welcoming leaders of nato to washington tomorrow. but after numerous displays of physical frailty and mental weakness, how will h

i -- at goldman sachs for the group that helps small institutions and individuals. now call private wealth management. i've been buying individual stocks for myself and others for a half decade before i got to goldman in 1983 as a summer intern. at the time, i was watching financial news network between classes at harvard law school. that was the predecessor to cnbc. whenever i could, i would run over to the harvard business school library, where they had all these old research -- about stocks. on a cash basis. those of you who grew up with the internet have no idea how hard it was to access information in the 80s. if i like the company, i would have to ask a librarian for a microfiche. did they still have microfiche is? these were little pieces of plastic that you stuck into a machine, all of them were six months old by them. everything is online an instant and updated. the imperfections in the market back then were -- now everyone can know everything. more on that later tonight. i spent all week trying to find one stock that i thought would work. one stock that i

goldman sachs almost 2.6%. but both doing very well. but let's call it as we see it. wells fargo, handicapped from the regulators from the year of out and out chicanery, last friday, the stock got hit. but today it managed to rally more than 2%. arguably, that's because the ceo talked about how the economy is growing weaker, and the loan business has gotten slower, something that will make it easier for the fed chair powell to cut rates which will be good news for wells fargo at this point in the business cycle. i think the bank stocks have had two problems with the government that could be solved by the election of donald trump to the white house. first, all banks are guilty until proven innocent whereas trump who created an empire on borrowed money believes the banks are plain innocent. particularly goldman sachs worked plus bank of america's report tomorrow are heavy to ipos and mergers acquisitions. the regulators are tough on ipos these days, so more important, the investment banks used to make a ton of money on mergers. we know the justice department has been ex

um, the group has ballasa, the bulk is attack and the old find goldman hans, which killed 12 people. the u. s has also said has beloved is responsible, but the group is denied. any involvement said hold on for quotes from favorites of the $1007.00 near simultaneous strikes and multiple locations across southern lebanon. isabel said it targeted as well as weapons deposed and infrastructure and a message, but not the response promised by as well for the rocket to attack that killed civilians and the is really controlled. syrian occupied golden heights late on saturday, then they will give us a terrible tragedy in this, in boys and girls. it breaks your heart and i tell you, because boys responsible for this and they will pay the price has beloved denied carrying out the strike. but as well as unconvinced saying the mass casualty incident was the most significant event since october 7. it is really military also said it is conducting investigations as to why it's air defense failed to intercept the rockets while others question whether the incident was the result of a malfunction in the

goldman sachs raised spotify's price target, goldman citing the q2 results should build in the secondear. >>> piper sandler downgrading its target from 494 to $404. piper sandler saying it does not think it's enough to offset the several sources of market dilution for the company. >>> another retailer getting a downgrade. boot barn. it's lowering its price target down to 125, ubs saying is expects trouble and it has a more bearer macroview. >>> lvmh is declining after second quarter sales growth largely due to weaker luxury spending in china. other european luxury stocks in the red. gucci owner kaying down more than 3%. the others are all arch more than 1%. >>> and it's not just the luxury sector under pressure in europe. the german lender reports its first quarterly loss in 2020. it's taking a provision on a long-running legal dispute following the takeover of post bank. b np paribas falls despite the drop in the net interest income. >>> coming up on "worldwide exchange," the one word that every investor needs to know today, plus an earnings and revenue beat by alphabet. you can she

we will speak live with the house judiciary member down goldman but first let's get to breaking news out of israel as they make clear that hezbollah will pay a heavy price for the bombing that brutally killed 12 children on a soccer field in the golan heights. israel has every right to respond says the u.s. but nobody wants an all out war they say. this as hostilities have clearly escalated. the former secretary of state and cia director mike pompeo is standing buy but first to correspondent trey thinks reporting live on this as he has throughout the week and from tel aviv. hello tray. >> good afternoon martha. overnight the security cabinet of israel met to discuss operational plans to target has bella in lebanon following this deadly rocket attack over the weekend that killed 12 teenagers and children. we were there in the aftermath. take a look. -- hezbollah. the cousin of an 11-year-old leaps as she clutches her photo. it is all she has left of the young child back 1 of 12 people killed in saturday's rocket attack. at their family home, her father stands in her pink room. >> this

goldman writing that it has upside risk to the unemployment rate. steve, we'll give you the last word. >> you know, mary daly has talked about this and a couple of other committee members have talked what kathy talked about. daly puts it gingerly and says they're worth watching and maybe others are more concern peed he. i wrote an email to this person, and i said here are the reasons the fed should cut and they all made sense based upon the inflation data and the person wrote back. yeah. missing everything but a zero or 100,000 on the employment report. so if kathy is right and some of the other indicators are right and the fed does get actual weakness in improvement that could seal the deal or move up the calendar for rate cuts. >> you see jim nodding and maybe it would be nice if they could adjust policy before we get to the point of zeros or negatives. in any case, we'll leave it there. we appreciate it. our steve liesman and kathy boostjancic. >>> president macron's controversial call for a snap election appears to be backfiring on his centrist

now goldman saw a 21% increase in their i-banking revenue.ctly what the street wanted to see. remember, they rely heavily on deal-making more so than other banks by far. however, that 21% increase paled in comparison to some of their peers. jpmorgan, citi saw a 50% increase in their earnings report last friday. now let's be honest. if rate cuts come, deal making is expected to surg and goldman said on their call today their pipeline is looking good. i'll close with this , neil. both ceo's larry fink, david solomon addressed the assassination attempt on former president trump on the call and said they are grateful. neil: thank you for all of that, kelly o'grady. jerome powell indicating much the same. he is at a economic club event i believe sponsored by the carlyle group. david rubenstein the founder of that private equity firm is questioning him and he also talked about it and is relieved the former president, the guy who chose him to head the federal reserve is doing okay. he could make news talking about rates and inflation and all that st

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goldman sachs beat expectations on earnings today. bank of america reports tomorrow tell us how the consumer is doing a lot. united airlines and netflix later this week as well. well, as dive a little deeper into the ripple effects of the you know, the failed assassination attempt. but this does. >> sort of give that put wind in the sails of those who believe trump might win in november as a and that is happening. you know, that is playing with the mines of investors. i would imagine. >> yeah. and instantly when it happened on like as you can sell a lot of t-shirts with a bloodied president on china factories fired up within hours, start printing t-shirts that i find. that. so yeah, i know us. yeah. he's the best way to say it. but ultimately the film assassinations dominating want minds of wall street this week. a couple trump trade. it would likely imply higher inflation because we would do greater deficit spending night. the republicans or democrats have done a good job, cutting but trump was particularly good at cutting taxes in h

where is goldman right now?ut in september followed by quarterly cuts thereafter. there's also the remote possibility there could be a cut in july. the case for that might be that if we see an uptick in inflation, that maybe difficult to cut in september and so they might want to do it in advance to hedge on that but our base case is that it's september. charles: it's how critical is in your mind that the market believed that this happens because of course, this rally began on the assumption they were going to cut initially certain times and then the rally baton, we were able to keep it going because even though the rate cut estimates came down, the new rally argument was well the economy is strong. >> the market can handle a lot of things but what it doesn't like is uncertainty, and honestly a 25 basis point cut isn't what they are super concerned about. it's actually about where the long end is and that's well-anchored. charles: also they just want them to get started. you say there are five key megatrends tha

should goldman sell at that much more of a premium than jpmorgan?> what's the multiple to book these days? >> they're both high. no one understands that one. >> you are always -- there is -- has to be some accounting for the risks you're taking on. i mean, yes, fortress balance sheet at jpmorgan. nobody ever thinks they're going to make a big mistake. bet on the economy, i guess. >> the eight companies that are the largest who could go into the trillion dollar club, jpmorgan is a 580 unmillion. you get it to 600, maybe 700, but in the end, it's broadcom that's going to be next and broadcom and tesla are the two that will be the next trillionaires. >> yeah. we'll be watching for fdic chair confirmation hearings today for romero. visa/mastercard, 10% dlau d drawdowns this year. >> i can't believe that. i think michael at mastercard is masterful. i'm surprised at that. i want to take the other side of that trade. >> delta had decent numbers on amex renumeration, also bastion's comments about the guidance for the quarter, not the year, the quarter, is l

goldman sachs up .50%. >>> time for the global briefing.hina cutting rates for the first time since last august and bringing in around $27 billion of liquidity in the market. this is doing little of the chinese economic recovery. the hang seng down 1.5%. di disappointing earnings hit all around the world. stellantis with a 50% decline in profit in the first half of the year with weak sales in the u.s. renault posting a 33% drop of net income and flat revenue growth. nissan is not faring better in japan. sl slashing the full-year outlook. two pharma giants moving sanofi raising guidance thanks to strong demand for skin and asthma medication. astrazeneca beat expectations. >>> turning back to tech. shares of alphabet under pressure this morning. down .25% after yesterday's stock slide which was attributed to youtube ad revenue missing. the report hitting digital ad rivals meta and snap and pinterest. are google's ad struggles a o one-off or a sign of things to come? joining me now is david. great to have you here. >> good morning. >> glad you

. >> i think july was just a goldman canard, and i enjoy goldman's research, but that was just somethingthat was ill advised, that piece. i think everyone expects if you read, bank after bank -- brian moynihan yesterday. they've got a schedule for what they think, and i think that everyone's being september, 100%, and then we'll see what happens. that's not wrong. >> jim, i want to get your take on j&j, which we haven't hit at all this morning. the stock is up about 1.8%. still down for the year. obviously, no longer even close to the level it once had of being the largest market cap pharma, slash, whatever you want -- devices company now. eli lilly's double its size. that said, 2024 second quarter sales growth, 4.3%. growth of 6.6% adjusted operational growth of 6.5% as well. thoughts? >> there was a lot of misinterpretation because there's some different accounting issues when it comes to what they bought. joe explained it to me really classically, which is that if people understood the accounting, you'd realize it's not a miss at all. that is driving the stock. plus they are -- july 2

the lowest call is goldman sachs, 140,000. randy croson or joins us now.this report? --randy kroszner joins us now. what are you focusing on? randy: in particular, wage growth. the fed has made it clear that until they are confident that inflation is going to be coming down in a sustained, systematic way, they ain't cutting rates. if wage growth continues to be around 4% or kicks up, it will be difficult for the fed to move inflation down to the 2% target. manus: mary daly says that we are near to the point where a benign outcome could be less likely. in her eyes, with an inflection point, do you think that we are at a tipping point, moving beyond benign, where it could become more malignant? randy: she's exactly right. when i think about the fed management, with the risk of interest rates going too high for too long, bringing interest down, that could mean a slowdown in the labor market. risks that are declared all clear. late 70's, early 80's, zooming up to double-digit levels. manus: are they right to use extreme caution rather than rolling the dice? ra

goldman goldman sachs will release their second—quarter earnings on monday — with revenues forecast to

goldman sachs and jpmorgan chase reporting earnings in recent days. we are looking at small caps.ok right here. the russell 2000 climbing nearly 2% yesterday adding to its week-to-date gain of almost 7%. tom lee from fundstrat still banging the drum saying this may be the long cap rotation. we are starting to see upside moves. this morning, we are looking at the bond market with the two-year yield with the lowest level at 4.42. the benchmark 4.181. you have to remember at the beginning of the month, the benchmark was 30 basis points higher when it comes to the yield. we see a big move to the down side when it comes to the yield on the benchmark. >>> that is the money set up. we turn attention back to stocks with another batch of banks set to report this morning. bank of america and morgan stanley capping off a relatively strong earnings season for the big banks, including positive results for goldman sachs. ahead of the results, bank of america shares are up 16% since reporting three months ago and also trading at an all-time high. that is helping to lift the kpe 52-week and all-t