that's not uninvestable, it's investable, just a question of when. i think it's a little early. >> steve, we talked about it stop of the show. wages are sticky, wages have gone up. can we make the connection that consumer stocks that you don't need to finance for are probably going to be stronger going forward, sort of cou counterintuitive. >> reallocation of money. possible. i mean, you -- when you buy stuff on amazon, you generally don't financial. you finance it on your credit card and that's fine, because you can pay it off quickly. anything that has any financing duration is a problem. >> how do you feel about the big cap tech stocks, the so-called magnificent seven. are you long any of them? >> like everybody else, i am. i don't know if i have more insight than anybody else. but -- >> more than you have to? >> not because i have to, because i want to, because -- >> if your benchmark -- >> it's where all the dine mitchell in the economy is going to be for a long time. we had the ceo of nvidia in last week. i don't think i've ever seen a ceo so c

when it comes to regulation jamie dimon himself said banks are uninvestable because of the new proposalsin washington, d.c. but he is saying that while he himself owns over a billion dollars of jpmorgan stock. you know, i think he is going a little overboard there with that uninvestable comment and it has dragged down the stocks and it is an opportunity. >> are your estimates at risk yes or no. >> no. but i think consensus are at risk by another 5 to 10%. that is why i say we're in the middle of the seventh inning for the down ward earnings revisions. it has to catch up and then it'll be a nice floor. >> the day of free cash flow, mike. potentially higher u.s. regulations. will this crimp the ability for the companies to buy back shares with free cash flow? >> it already has. you have unrealized securities losses because of higher interest rates. banks already slowed down buybacks. back to the comment before i think the biggest banks like jpmorgan and citi will be able to buy back more stock going into 2024 and will also provide a support >> i like what i hear. good to have you here. mik

i think jamie is onto something because stocks are uninvestable if these proposals go through. they will perform like they did through most of the 2000 when as barclays at -- equity strategist i was underweight in, but it will bleed over in new growth in credit. >> to the last thought here, the big question in the market is the yield curve. how are you reading some of these moves at the long end relative to the short end? brian: the interesting move in the last week was the flooding of the curve notwithstanding last week's auction, but over the course of the last several months, the story has been very steep being in the yield curve and i think barry talked a little bit about the expectation the fed is not going to hike november, november 1. that potentially tees up an interesting decision in december and i think that will be dependent on how financial conditions evolve between november and december but i think what we will be watching, whether an atypical scenario where the fed is on pause for an extended period of time, the fives and 30's curve steepen's. where there is a ral

month, then there is the problem raised by workers of retirement age, pensioners who receive an uninvested pension. such enterprises certainly need government support; gastrotourism can and should be developed in the territory of the free port of vladivostok, said yaroslav nilov. he promised all these questions raise as part of the upcoming government hour with minekon development. maria burkova, anna melikyana, alexey chabburkov, parliamentary hour. preserving memory and monuments, saving great patriotic war memorials from destruction allows us to assign them the status of a cultural heritage site. but status also increases demands. sometimes it gets ridiculous; painting a monument for victory day turns out to be not so easy; special specialists are needed. the state duma drew attention to the excessive requirements and accepted them. which will allow you to find a middle ground. report by dmitry oreshkin. the village of lukino is located 40 km from the capital. it is part of the istra urban district. at the end of the forty -first, during the battle of moscow , the heaviest battles took

s of businesses and they told me china is becoming increasingly uninvestable and i would locate my business in the united states. sen. vance: i agree the companies should locate their businesses in the united states but we have to be careful the reason china has become uninvestable is it's hard to get our money out but if we make it harder to do business and pass bipartisan legislation that puts money in american manufacturing and make it harder to access it unless you check the diversity box we'll be counterproductive. i'm mindful i'm at the end of my time and the last point i'd make is the united states thank god does not have a chief diversity officer and would appreciate it the biden administration doesn't pretend to be one. sec. raimondo: i have to protect taxpayer money and the companies have to meet their mission and in order to do that they have to have a trained work force and i'll work with them to make sure it happens. sen. vance: i don't think diversity is a part of it. >> thank you, madam chair. thanks for holding this important hearing. and secretary raimondo and mr. panchanat

rates can go as high as 7% and the world should be prepared for that as well as saying banks are uninvestablewhen you pull all those together and you see the share sale, that could be something that investors are looking at today, although there's no evidence that he believes that, you know, jpmorgan has reached a peak or anything like that that's why - >> leslie, thanks very much. leslie picker reporting on jamie dimon. don't know if that had any effect but the market has just fallen another few dozen points. down now -- i can't read it. 450. how are your eyes? >> 433 right now we're at session lows for the dow, the s&p 500 is close to session lows as well. >> thanks for watching "power lunch. >> "closing bell" starts right now. it's hardly been a big bounce for the index overall. apple is one

while it makes our industrial notta as uninvestable budgets -- you can run a perfectly great and wonderfulairline to put your stock goes down with everyone else. not only is it good for the planet. consistent nonvolatile -- with regard to y what your biggest ct but think of the value on your equity if investors did not to worry about stock prices and that begin to resonate as a business discussion and an economic one rather than a social one. and the world of market forces which ares, very efficient if indeed the airline industry as a wholee the supply-side will happen. interestingly the economy startup if you have a man-made problem they can be fixed by man as well. somebody has the push for it. can you do something you will you do something about it? about the issue that we took on early on. i would puts united airlines is not just the best airline but we could be one of the top companies in the world through sequestration investment in sustainable future of fuel and the investments they are making. it's business oriented. you can't be principled and profitable at the same time. >> you m

so my fear about china, i think it's uninvestable because if you buy, say, some company or sock in chinachina, i believe there's a good chance it doesn't work out in which case they're happy to have you own it but if it does work out i've got a feeling they might not pay you because they don't like american hads and they won't let you get the money out of the country. >> i think jeffrey is right about a lot of things. i think we have to worry about financials that come out china and financial institutions. i must say that the pharma industry is a little different because the chinese pharma industry wants to compete in the world and this is the big one, and you said it, the intellectual property it's here. the innovation of the world is here. maria: keep it here. that's the point. you've got to keep it here. >> we have to make sure that innovation continues in america, in biotech the, in pharmaceuticals, we still see it. we still see it right now. it exists. maria: let's talk about that by the way, you can watch more of my exclusive interview coming up with jeffrey gunlock coming up in ab

. >> so, mel, are you saying they're uninvestable? >> am i saying bonds are -- >> the treasury. >> the whole curve. who is the buyer? like, you know, we did that once, didn't we do that once -- >> we did that on china. chinese equity market. u.s. treasury market? i don't know what you're talking about. >> you had such a great trade on, feels like you're getting piggish. and you mentioned the volume on a very liquid etf. i'm kind of picking at calls in this space right here, because i i have vol is cheap. when you have that vol, the way it's bun moving relative to the way the s&p has been moving, it could set up, like a coil spring in my opinion. >> very bearish out there. >> all right, the latest jitters over surging yields come a day after rick santelli right here on this sat warned about how high he thinks rates could go from here. >> we have a lot of potential room to run to the upside, so, if somebody asks me and held a gun to my head, said listen, the worst casescenario, ten-year, i'd say in the next seven years, you should see 1

unicorns like stripe are staying private for longer and you can say uninvestable for longer for the ordinary the latest openai deal putting its value at $86 billion would make it one of the most richly valued startups on earth behind only tiktok parent bite dance and elon musk's spacex. openai offers a new twist on the start-up structure. it is a capped partnership limited by a nonprofit board that means profits in excess of 100 times return will be passed on to an overarching nonprofit company which will disperse them as it sees fit. six individuals, the board, have control of openai's ultimate profitability three are from of the starting founding team and three entrepreneurs working elsewhere in ai. anthropic has quirks, an independent five. person committee that can hire and fire the board and ceo. in the way that other tech founders in the past like snap and facebook have held on to control passed their ipos through a dual class structure, the biggest ai companies are ensuring they hold on to control earlier in the life cycles and their justification is more moral, the fiduciary duty isn

s of businesses and they told me china is becoming increasingly uninvestable and i would locate my businessn the united states. sen. vance: i agree the companies should locate their businesses in the united states but we have to be careful the reason china has become uninvestable is it's hard to get our money out but if we make it harder to do business and pass bipartisan legislation that puts money in american manufacturing and make it harder to access it unless you check the diversity box we'll be counterproductive. i'm mindful i'm at the end of my time and the last point i'd make is the united states thank god does not have a chief diversity officer and would appreciate it the biden administration doesn't pretend to be one. sec. raimondo: i have to protect taxpayer money and the companies have to meet their mission and in order to do that they have to have a trained work force and i'll work with them to make sure it happens. sen. vance: i don't think diversity is a part of it. >> thank you, madam chair. thanks for holding this important hearing. and secretary raimondo and mr. panchanatha

bearish comments that include the possibility of interest rates increasing to 7% and a, quote, uninvestableew proposed basel iii capital rules. do dimon will use plans to share his stocks throughout 2024 under the guidelines of 10-b-5-1 this gives insiders the ability for a preaimed of shares dimon selling down his ownership in jpmorgan, that doesn't appear to be the case i'm told by a source close to dime than he has no current plans to do more of these. but you can see shares down about 2.8% right now on this news guys >> i sort of remember, leslie, more over the course of the last few years, moments when jamie stepped in to buy and those being -- >> yes. >> actually very opportune times to buy the stock or the overall market and projected confidence. doesn't sound like that's what this is but it does remind me of those moments. >> yeah. we think of dimon more as a buyer of shares here his beneficial ownership amounts to about $1.5 billion. some of that is unvested options and things he doesn't have direct access to right now nonetheless his exposure is about $1.5 billion in this company.

yields gone up and customers moving to the uninvested assets into higheliment issues or sorting has weighedexecutives have been talking about that slowdown. they said that that actually did slow down in september after an uptick in august. schwab is still in the process of integrating td ameritrade, the major acquisition on the analyst call, the ceo saying that deal did see attrition and that is abating. while that attrition has weighed on the net new assets this summer it was better than expected and has largely passed. saying that overall backdrop of the environment is negative. it might be easier to look at the near term challenges facing schwab, but did try to highlight and said the entirety of our position and potential for all of that it creates in the future. trying to bring some optimism there, guys, back to you. >> okay. thank you. >>> speaking of schwab and financial services, bank of america, goldman sachs, morgan stanley, will all report earnings this week. on friday we did get a number of the biggest banks as well. let's bring in leslie picker and get a scorecard here on what w