j.p. morgan chase rarely lends to minorities and one major u.s. city washington d.c. the heart of power in america over 40 percent of the population is black american just 2 percent of j.p. morgan chase's loans in washington d.c. just 2 percent that's 23 of the 110-1000 loans made in 2018 went to blacks in washington d.c. just a few went to latinos there this is the same sort of situation is like those loans in our system of a post gold standard dollar whoever has the most debt gets to build the wealth with this counterfeit money and own all the assets right jamie diamond is part of the financial apartheid in america there is apartheid in america that's done with it your straights and loans and the banking cartel and to kind of expand on those black but hopley idea how come when blacks roll the dice on monopoly and all those lands and you got to go to jail you know there's the jail. you know on the monopoly board you go to jail right somehow and blocked. play monopoly in america oh view of it got to go to jail again oh you got to go to jail again okas jail is now a pro

j.p. morgan chase & co that and wealth settlement ceo.e away from a screen, you can always find in-depth analysis over on bloomberg rate up. we are now broadcasting from our studio in hong kong. you can listen in view of the apt at bloomberg radio plus or bloombergradio.com. this is bloomberg. ♪ haidi: pg&e has launched two public equity offerings worth more than $5 billion as it prepares to exit the biggest sector in bankruptcy in u.s. history. pg&e has already raised more than $13 billion in the debt markets to finance its chapter 11 case, which began after its faulty equipment sparked a deadly wildfire and saddled it with $30 billion in liabilities. apple launched this year's developer conference with news that will make the most dramatic updates to the iphone home screen the device was first 2007.sed in apple confirms it will start to sell mac computers with in-house design processes, signaling an end to the 15 year alliance with intel. abu dhabi investment fund is focusing on tech after taking a 1.2 billion dollars stake in india's g

j.p. morgan chase, bank of america, wells fargo, and citigroup.am --t was designed [inaudible] they were in the front of the lawn and had a special application process for these ppp loans. areasis those from rural or minorities had to use a website or digital portal that did not always work, there were significant delays. by the time many of them got to a point where they could qualify for the loan, the money was gone. this also comes as there is greater request for the accountability for the $2 trillion bill known as the cares act gave out money to help companies get through the pandemic and the shutdown. i should point out the banks we reported said they wanted to wait until they reviewed the letter from the committee for they gave a full response. -- before they gave a phone response. chase leadingrgan to have 50% of traders back in the office by the middle of july. how does this work? su: as you know, new york has a four tier program to bring people back into offices. j.p. morgan chase is plenty two brings b -- planning to back traders next we

j.p. morgan chase bank they burned u.s. bank and then they started burning regular businesses so there was a really big textural. they completely it's a building on fire. on life and this sort of a shark in for you particularly in san diego is a really chilled later place the best of it was i just couple of months ago the f.b.i. plus this is america's safest big city only a couple of years ago so it must be a huge shock if you see this kind of thing happening on your doorstep especially after the coronavirus you mean. you know we were getting enough protein we have enough problems and and now we are you know there's a lot more than we weren't so come to the chase here has your restaurant actually been attacked let's be clear there are you worried is there a worry that you know if you're starting to arm yourself here it could maybe if things go wrong shots are fired trigger something far far worse so i think being looted which is a riff they want to put you know it's another thing if you shot at. well not you know you absolu

j.p. morgan chase is that it is safe and secure.d of a leave or medical leave, reentry is a very stressful time period. we have to work through it slowly. depending on how you transport yourself into and out of the office. we will take that step-by-step and make sure everybody feels comfortable. people crave interaction with other people. while zoom is a fabulous technology, zoom is not spontaneous. when you need that support from a colleague and you are trying to do very difficult spending to thens, it is just extent you can have some of it in person and i think life will change a lot for a lot of the way people work, but you still need some of that. i think that is what we will all be working through. i think you will see corporate america adjust accordingly and you will be in a better race for it. -- better place for it. that was the j.p. morgan chase wealth asset management ceo mary erdoes speaking. softbank is unloading part of its t-mobile space in a $21 billion deal. the japanese investment giant secured the state just this y

j.p. morgan chase all of which are traded on the new york stock exchange saw spikes of at least 2 percent on this news for more on this date us markets and the economy let's go ahead and bring in boom bust co-host christy i want to start with the volcker rule what does this entailed what does it mean to ease these restrictions. like when you said earlier right now the volcker rule that was established it was established in order to discourage banks from apparently taking too much risk and bar them from using their own funds to make certain types of investments and speculative trading activities in order to increase profits but now we're looking at which was an idea that was floated earlier this year this would allow banks to invest more of their own capital into small businesses and start ups alongside with clients so this will loosen up restrictions to allow banks to make a large investment in the venture capital and summer of funds while boyden have been set aside a bunch of cash for derivatives trades and would potentially free of billions and cap over the industry thereby enhancing li

j.p. morgan chase. wealth management ceo. geoff, i was really interested in her take.o panic, cash on the sidelines. i was wondering if other factors like retail investors pushing equity higher -- if there would be some kind of capitulation here? >> a lot will depend on what the markets choose to respond to. i think overnight, the reaction to the trade deal between the u.s. and china shows you that this story is still very strong, even with the covid impact. the other risks to the market are still out there. i think we are still a long way from people taking cash from the sidelines. i think for now, volatility will to protectntrol, but long-term factors, i think is far too early. and a lot will depend on the election. that will be another factor as well. i read a lot of stuff this morning about how fragile markets are in how last night as an example of that -- and how last night is an example of that. thehe same time, i look at states with hospitalizations rising. over the data all shop. there are plenty of factors that could frighten the markets at the moment, but equ

j.p. morgan chase.t different, so it is kind of an environment that you are used to. -- the other expectation you have is, from talking to other peers, black ceos and executives, i think there is a different expectation that we have of ourselves. you almost feel like your successes or your failures are indicative of the entire race. i think about the b have raised from venture capital firms and all the fortune 500 clients we have. it is that kind of a thing. if i do well and i can be successful, it is opening the door for more opportunities for others, but at the same time, i am very cognizant that. few people have had the opportunity, and if i don't do what -- that very few people have had the opportunity. i don't know if it is they daily thing that people have that maybe they are not as cognizant of. we all have daily pressures and motivations, so i am not dismissing the ones that other people have. it is more articulating the uniqueness of my experience. emily: it is not incumbent on black people to

j.p. morgan chase, always good to catch up with you. hope you and yours are doing well.illion is your median estimate. where is your focus, come 8:31? tom: i am going to go beneath the headline data. i used to look at the median weekly statistics. now i don't. in at the right to see if it breaches past what we saw in 1933. on this payroll friday morning, good morning to you all. this is "bloomberg surveillance ," live on bloomberg tv and bloomberg radio. here's the price action shaping up as follows couple with equity futures drifting higher on the day. equity futures up 22 points, positive there .7%. year yieldsofter, 10 up four basis points to 0.86%. just around the corner, the payrolls report, then immediate reaction from jeff rosenberg of blackrock. on this payrolls friday, this is bloomberg. ♪ jonathan: from new york city, this is "bloomberg surveillance." we are live on bloomberg tv and radio as we await the payrolls report in the united states of america. estimate,te -- the -7.5 million. the number, here is michael mckee. michael: we are waiting for the numbers to

j.p. morgan chase, the largest bank in the united states. a man with the norms influence in politics as those in finance, who was very often interviewed on positions, on television because of his acumen but also because he has positioned himself as a democrat, somebody who straddles both parties but really is, he says in his heart, a democrat and a democrat who cares about widening inequality and so forth but jamie dimon is very much an exemplar of what has happened to the democratic party. that is, these wall street democrats and corporate democrats with the best of intentions, and it don't mean to suggest that these are bad people, one reason i entitled the book "the system" is so we don't fall into the trap of thinking that all we have to do is get rid of the bad people and the villains, and dividend will be fine. jamie dimon and others have contributed to the rigging and then made it, and i've seen it, very close, they have corrupted the democratic party just as the republican party has been corrupted. finally, michael, you alluded to my

j.p. morgan chase credit card spending we had a little bit of flattening out here. this measure spending may 26th, you can see people with the card spending is still down 33% and those not present, that's up 7.4% and that's showing people still robustly spending online rather than at stores before you get too excited, this is definitely all moving in the right direction. i just want to tell you how far we have to go. 144,000 stores in the yelp database are still closed that are expected to be open. there's still 20 thousand new cases though that's down from the average of april of 29,000 plus all three measures moving in the right direction. the market, i'm assuming picking up on this not much impact we can see from the demonstrations in terms of renewed store closings though d.c. was up again in terms of closings moving in the right direction, becky, a long way to go. >> we do get some numbers later this morning the jobless claims, what are economists expecting from that weekly number? >> you know, another round of improvement. i guess i have to put that in quotes

j.p. morgan chase, bank of america, and morgan stanley left their third-quarter payouts unchanged.hard saldanha from aviva is still with us. we wanted to mention the story. last time we spoke, you said there are still businesses paying dividends. most of the u.s. business sector -- banking sector. you made this point in a european context previously. it is easy to focus on companies saying they are stopping dividends payments. what does the investing world look like to you right now? richard: i'm arguing that investing remains alive as well despite other people who might argue otherwise. we are seeing opportunities in companies across a wide range of sectors, so it is not just the defensive areas. you are seeing dividends from health care, staples, etc. there are also opportunities in more cyclical areas. industries are a good example of this. really being selective is the key. it is focusing on balance sheet, high levels of leverage. the companies with stronger balance sheets will emerge from this crisis stronger and have the capital to to deploy into dividends, as well. again, we

j.p. morgan chase and wells fargo and they also said they are hiring.te could be a new breakout higher and given the volatility and the mark, it is still possible that rates could turn back down again back to you guys. >> diane a thank you very much for that >> sara, able to share a fun photo there, as well by j.p. morgan this is a photo of jamie dimon's first public outing with employees since his heart surgery and since covid. apparently, this is his local branch outside of new york and great to see and hear that his recovery is going well i have to say with those masks and the open vault it looks like they almost robbed it and decided to pose for a team photo before they escaped with their winnings and obviously, just great to see that his recovery is continuing to go well at that chase branch. >> and it looks like taking a knee to protest the racial inequality as we've been seeing. >> i don't know if that's the tone of it or not, but whether -- >> oh, okay. >> whether that's the -- >> it looks like they're doing that >> it does a bit, but i don't kn

j.p. morgan, and chase closing early to recognize today.in addition, amazon, and google are urging executives and employees to cancel all meetings and use the day for learning and reflection. >>> a live look at a center san francisco, the warrior say their office staff will engage in a day of service as a way to mark it today, they will take part in events around the bay area. in a statement, celebrating black history and culture in our ongoing ally ship to and systemic racism is the most important work we will do as citizens of our communities. there will be multiple marches across the bay area today, and antioch. a piece walk will start at 11:00. they will hide from city hall to thomas gates land on sixth and eighth street. in san francisco, mergers will meet at city hall from 1:00 until 3:00. a rally will be held at city hall at 5:00. people will share their stories about the justice system, police department, and school district. and google is marking juneteenth with a google doodle that starts with the order that ended slavery in texas

j.p. morgan chase citigroup bank network goldman sachs plan to retape quarterly payouts wells fargo workingdal in down in premarket obviously, a lot more details on the banks, when they kick off earnings season shortly, walmart says it is going to stop selling all lives matter merchandise from web site indefinitely after the company received backlash from employees and consumers over meeting bend merchandise, walmart says products sold by third party sellers sid they are putting emphasis on black people other people of color whos lives are being quote impacted by ongoing racial injust wall the mart barely higher premarket. >> trend heing this morning on foxbusiness.com, food zloifr service postmate would revise planning for ipo possibly be acquired by uber, who has made a takeover offer, lights remain dim on broadway staying closed through january 3, 2021 extending coronavirus shut down for another four months, millions taxpayers have received irs notices with old payment declines on them, irs extended decline to july 15, anyone unable to file has to request automatic extension not likely t

j.p. morgan chase which is leading the financials lower.groups that has come under pressure as people worry about the zero interest rates and the potential for bad loans in the economy jpmorgan down by 3.8%. if you take a look at the broader market, the futures ahead of the open, as we mentioned under pressure dow futures down by 620 points earlier this morning we started down about 550 we have seen it down by as much as 1,000 points. just about 1,000 points at 3 a.m. this morning. we will continue to see what happens as we get closer to the opening bell, but obviously this builds on last week's losses 'lbeacwi me information right after this you should be mad at forced camaraderie. and you should be mad at tech that makes things worse. but you're not mad, because you have e*trade, who's tech makes life easier by automatically adding technical patterns on charts and helping you understand what they mean. don't get mad. get e*trade's simplified technical analysis. meg. >> hey, andrew we did see sort of a continuation of the trends we started

j.p. morgan chase up 19%.8 raytheon up a similar amount "squawk box" will be right back.rriers between departments now. servicenow. the smarter way to workflow. and their financial well-being. since our beginning, our business has been people. it's evident in good times, with decisions focused on the long-term. and crucial when circumstances become difficult. that continued emphasis on people - our advisors, associates, clients and communities gives us purpose, strength and a way forward. today. and always. >>> let's get to c nbc headquarters, jim cramer is here market is up again the fed is helpful, but you've pointed out there are stocks like stay at home stocks why the cramer index, the covid index, where it makes sense we had dock yu sign on, how many of an allegory is that, docusign goes into the nasdaq 100, united comes out. it's like there is it is in a nutshell my question is when do you put on the trade short docusign and go lover united? ever >> docusign has moved up so much even in the week since i have had them i think that, yes, if you doa vaccine what's abou

j.p. morgan chase is down about 4% in the pre-market >>> benchmark interest rates are near zero.he fed made quite a bit of comments yesterday and some people indicating that those comments are unhelpful in terms of what's happening in the stock market today let's get to jim grant quickly here to discuss what this could mean jim grant, founder and editor of grant's interest rate observer what i was talking to steve liesman about earlier, many are saying the fed's appraisal of the economy put a damper on sentiment today for the stock market i just ask the question about whether the fed's overall action and the action of central bankers around the world, is there anyone worried about a day of reckoning for that at some point? and i think maybe you would be a person that thinks maybe this will be difficult to unwind at some point in the future >> yes, it will be difficult to unwind because it's been wipeding for years and years with every bit of difficulty, the central bank's weigh in the rates, bigger balance sheets and more intervention of all kind. so what we see now is certainly

j.p. morgan ch e chase. among the names pushing to make it a holiday.xas recognizes juneteenth as an official state holiday. this week officials in at least five other states said it's time to follow suit. on capitol hill, a renewed effort to make this a federal holiday. juneteenth was born the day slavery died. despite the emancipation proclamation in 1863, slavery thrived for another two and a half years. it took union soldiers riding through the south enforcing the order that slaves didn't know exist preponderance of the evidence finally in 1865 word reached the final hold out, galveston, texas. june 19th. >> so it's like independence day? >> absolutely. in some juneteenth celebrations you had fireworks being set off by african-americans. again, this marked that moment of freedom, that moment where families can now be reunited. >> reporter: now galveston is a place of education. >> growing up somewhere the holiday wasn't taught, i thought it was important to see the sight and learn the history about it. >> reporter: across the country, a look to the

j.p. morgan looked how 30 million chase credit card holders have spent their money. company says the level of dine-in spending from three weeks ago has some power in predicting a rise in cases. the study found increased spending in supermarkets meant a slower spread of the virus. analysts say that that suggests there is more careful social >> s l tooclstcing and the empt seat on at least three airlines. american airlines is starting this week, start booking flights at full capacity joining united. american will notify passengers when a flight is full and allow them to rebook at no cost. >> i do think it's going to get worse again so it is a little dangerous and concerning to me. >> i don't have a problem with the middle seat. i feel like they will have to because, you know, the flights are picking up. >> united and spirit airlines are already booking flights to capacity. jetblue is blocking middle seats and some aisle seats through the end of the july. delta and southwest are still blocking them through the end of september. >>> on this 50th year of pride a san franc