but i also like it because it's got great leadership ever since james gorman took over in 2010 morgan stanley's stock is up more than any of the other major banks. more importantly gorman knows the industry better than anyone. and that's why i'm so thrilled to speak with james gorman, the chairman and ceo of morgan stanley, to get a better sense of this moment mr. gorman, welcome to "mad money. >> jim, great to be here thank you. >> i cannot think of someone i want more on the show than you right now, james not because i want hand holding but i like rationality you've lived through bull and bear markets a lot of people feel this bear market will never end. what's your historical perspective? >> well, firstly, i've seen a lot of markets i think you have to look at what drives the change in sentiment and to me i'm just not surprised. what did we expect we've got a war in the ukraine we've got inflation at the highest we've had for 40 years we've got the fed moving aggressively on rates, having done nothing for ten years rates have been zero the market's awash with money. what did we exp

david solman at goldman sachs wants people in, james gorman wants people in.shback on this from what i understand. liz: from employees? two days. >> listen, we should point out the nasdaq has 5,000 employees. everything from computer programmers, there's no trade -- electronic exchange and there's management and marketing people. it's quite a big operation as you know. it's one of the biggest stock markets in the world. they got pushback on that from what i understand. you know, people are saying, listen, i got child care needs and been doing this for two and a half years. but nasdaq wants people back in and i think the sense i'm getting, this is now the sense, not what i know, what i think is happening because i'm talking to people at the nasdaq is this is sort of like a fore cha doing of what larry is doing, what solomon is doing, what james gorman is doing and more hard and fast rules. and jp morgan and they're moving in that direction. now nasdaq, we should point out, confirmed to us this is going on. they had no comment on the employees i guess crying abo

i do >> i have james gorman on tonight.'m going to ask about that and morgan stanley i don't know if you caught that. here's what's happening. i'm going to make it very clear. i'm going to say it again. the fed wants to see people more worried about their jobs they'd like to see job loss. fed wants to see your house go down and the one that you really hate, the fed wants to see your portfolio lower because that's spending they need -- how do you -- what controls spending? your job, your portfolio, right? those are -- they control -- >> all true. all true >> the house >> i think we may have this teed up, because john gray joined me yesterday at delivering aflpha along with whitney, but he had comments that were interesting and actually point to some of the questions/concerns that you have take a listen and focus at the very end of his comments here on the labor markets. >> i would say, inflation has begun to slow, certainly we see it in shipping costs for the manufacturing companies. we see it in commodity markets labor is p

accusing elon musk and his lawyers of not handing over text message exchanges with morgan stanley ceo james gorman also chairman larry ellison. they have subpoenaed the text ahead of the trial. morgan stanley was chief financial advisor while ellison said he would back the deal. hong kong asset manager value partners are expecting to double their headcount in singapore. they're planning to hire or relocate staff and investment management's to the city state, where it now has fewer than 10 staff. value partners cochairman says you're following the money. network cofounder and ceo is stepping down of the crypto start up as it forces its way to bankruptcy. chris ferrero has been named interim ceo. they were one of the casualties of this year's crypto market meltdown, user withdraws and closing a billion dollar deficit. rishaad: here is a look at what is happening. gaining stocks, at one point, we are looking at the possibility of seeing them open up. today, it is down to reports about revenue tightening. the past $309 million ringing -- really not helping these equities very much. that was the 11% of

. >> that was james gorman saying the fed is behind the curve. what is worrying investors most inflation, recession and rising rates top the list caleb, good to see you again lack back to "fast." i want to start with the $10,000 question because i think that really shows what people are thinking right now what would you do with an extra $10,000 in cash? >> wec have been asking that question our readers like to get into the action but they say they put it in the bank. usually looking to buy the dip >> promiscuous. >> yes they are scared. they don't know what else to do but sit on cash. i would think they were saying buy crypto and meme funds and now cash. >> right now and especially over a few weeks and fielding a survey until yesterday amp most feel like the market has further to fall with 5 to 10% at least to fall over 6 months. we talked about this potentially a contrarian indicator sometimes it is. the things that they are searching for got our attention. >> what are they worried about most >> losing the portfolio and further losses and the hy

last night james gorman the ceo of morgan stanley came on the show transitioning from too easy money to harder money from profit to stringent. the end will be panlinpainful. we're not denying that we had a good run and will pay the price. gordon is looking for the 4-4-4. 4% unemployment to bring wages down and a 4 % federal funds rate and 4% inflation to cut the inflation rate in half yes, the fed wants to get to 2% inflation but they may not do so so fast without wrecking the fabric of the country. we'll put in a bottom next month. too soon to tell if he's right and if it doesn't come true, i think we'll have more september. what else is going on next week? wednesday we get numbers from two sleepers that i follow closely. the consumer pack gaugaged goods company and the french fry potato company that hit a couple bucks from the lowest two-week high and this market, i'm using an example so we saw this from nike last night all that happens is the downside gets higher and the down goes higher that's what i expect will happen with both when they report thursday we get a report from the

don't miss james gorman, an exclusive interview that jim has tonight on "mad money.box" will be right back. ♪ >>> stock futures pointing to more losses at the opening bell, and by the way, the situation has deteriorated since the economic data that came out just about 25 minutes ago all of this follows the best day for the dow in more than two months joining us rights now to talk more about what's going on in the markets is "wall street journal" markets reporter and let's focus on that data that came out 30 minutes ago or just under 30 minutes ago people concerned about higher inflation levels and the idea that the fed is going to have to continue to raise rates, job market is still strong >> that's right. this is a continuation of the extreme worries that we've seen throughout the year, and data, time and time again, keeps showing us this peak inflation that we hoped for just has not come yet, and worries about global economic growth have mounted this week and those don't seem to be going away and i think that remains at the top of mind for many traders heading into

gorman >> michael edward gould >> yuji goya >> jon richard grabowski >> christopher michael grady >> edwin j graf iii >> david martin graifman >> gilbert franco granados >> elvira granitto >> winston arthur grant >> >> christopher s gray >> jamesa mccloud gray >> >>= linda catherine grayling >> john m grazioso >> timothy george grazioso >> derrick auther green >> wade b green >> elaine myra greenberg >> gayle r greene >> james arthur greenleaf, jr >> donald freeman green. >> and is the love of my life, after 21 years today it is still so. we have held these memories for so many years, so many miles. those who died while always be remembered in our hearts forever. >> and my uncle. although i never met my uncle, it is like i have known him all of my life. my mother always told me how wonderful he was. he loves the family unconditionally and was kind and generous to everyone around him. he will always be in our hearts. >>[applause] >> eileen marsha greenstein >> elizabeth martin gregg >> denise gregory >> donald h gregory >> florence moran gregory >> pedro grehan >> john michael griffin >> tawanna sherry griffin >> joan donna griffith >> warren grifka >> ramon grijalvo >> joseph f grillo >> david joseph grimner >> kenneth george