jamie dimon mentions geopolitical risks.ty squeeze in a complex trading product that upsets the market and maybe the bank stocks. we have not seen it here. you go back to 2023, that was credit suisse. jonathan: appreciate your time. we get goldman at about 25 minutes. what kind of companies should we be owning this year on the banking side within the sector? do we need to higher capital market concentration or stick with traditional names? ken: a strong delta for goldman sachs. we have a strong buy on goldman sachs. 15% of total net revenue comes from net interest income. it is on face service revenues across all its businesses. i like the announcement where they are trying to get a front row seat for private credit. we will be speaking about that more this year. i like what goldman is. the rearview mirror was consumer banking. goldman will define. jonathan: we will talk on the numbers drop around 7:30 eastern time, 20 minutes away. stay close. ken leon. joining us to extend the conversation is edward yardeni. welcome back t

>> jamie dimon. >> jamie dimon is ultimately no jamie dimon. >> is at a place where. >> he has. we'll get. >> more productivity. we'll get everything. >> and inflation doesn't matter that. >> much to me. or it helps me. what you're saying is inflation. >> hurts everybody else because. >> of the obvious thing. >> and the question. >> is how long that. >> sustains itself. >> for sure. >> it's a. >> morally outrageous and it's good. for discussion, but. >> they've been able to. sustain this for longer than. >> i thought. >> they could in the first place. >> are these tariffs good for national security? >> i think so, i think so i think the. more that we can test the tax. >> burden moving offshore. >> or outside of the us. boundaries and outside of income. or even have. >> a. >> discussion that. >> prioritizes less income tax. >> and more. >> non-income revenue, non income. tax derived revenue. i think. that that is interesting up to the point where. >> inflation occurs. >> i don't disagree with dylan using tariffs as an shading tool. listen, the president doesn't have that many too

with the announcement it is clear that jamie dimon isn't going away. he is signaling he will be in the draw a little while longer. the list of potential successors expands to include troy rowe bumped. nothing has changed in his title or role but everybody wants to point in that direction and it's interesting. there is no real indication he is the obvious one here, but he is more in contention today than last week and the other name i find interesting because of a series of changes in just over a year, doug beckner. last year, when the main banking guy at jp morgan jumped to citigroup suddenly doug beckner was given the title of banking but now he is the cohead of cip. that's a big promotion in 12 months. sonali: sridhar natarajan senior reporter covering banking for bloomberg. call him with your tips. we want to know what is going on. day two at the j.p. morgan health care conference in san francisco not just talking about changes at the bank, talking to executives. kriste -- kristin peck joins us next to talk about changes in her industry. this is blo

is retaking the white house on bitcoin which dimon called a ponzi scheme. he is sticking with his script. it has no trinsic value. on the issue of a successor, dimon doesn't have one in mind. >> that's a statement in itself. nobody in mind. silvana, thank you very much. >>> turning attention back to the markets. the u.s. markets are feeling the pressure from the stronger than expected jobs report. futures are in the red. the nasdaq falling 1.5%. dow down 1.3%. the s&p down 1% in the pre-market. the yield on the ten-year yield is hitting a ten-month high. it is raising the stakes for the wednesday cpi report with the hot rate on the core rate can move the stock and bond market and have a major influence on the federal incoming rate decision. joining me now is jeremy schwartz at wisdomtree. >> great to see you, frank. >> we see a lot of volatility in the market and declines in the markets. do you think all of this has to do with the fed and people having less confidence in the fed cutting one time this year and definitely having less confidence in them cuttin

his bank is thriving and healthy, but dimon, now 68, has had two major health scares.ou are now, can we say, cured? >> yes. remission, yeah. i know a little bit more, people with have been told they have cancer know more than other people, it's staring you in the face and may happen. you are a little more deliberate, more thoughtful. you don't want to have regrets. >> reporter: you also had a heart scare? >> yeah. >> reporter: it happened at the beginning of covid in march 2020. >> my heart, i just, i mean, the pain was extraordinary. i thought i -- >> reporter: was it a heart attack? >> aortic dissection. i had a tear in the aorta here. >> reporter: did they tell you might not make? >> yes. >> reporter: going in for surgery, you note, at least you think in your mind, i lived the life i should have lived so far? >> yeah, not enough of it, but yeah. >> reporter: how long were you on the table? >> seven or eight hours. >> reporter: were you surprised when you woke up? >> the doctor told me i was one of the only people he ever saw wake up immediately after surgery like th

, jamie dimon.d at that. i think that again, tariffs as a general rule are not something that is off-limits. the president has a lot of power over them. the biggest issue that trump is facing right now, and this is part of the turning rhetoric into action, is most voters who put trump over the edge did so because of the economy. they didn't really like a lot of the other stuff he talked about and they hoped he wouldn't do it, or at least hoped the economic stuff would cancel that out. tariffs are not going to be good for american consumers, almost no one things that. they will not be good for the debt or deficit. now trump says i have this tool, it is going to hurt the people i said i'm going to help, but i don't have the dexterity to walk away from it. we are in this precarious spot. christian: of all the executive orders he signed in the last week, the bold statements about the golden age returning to the united states, what would you put your finger on that is going to bring down grocery prices f

jamie dimon says tariffs can be a useful tool if used properly while we are told by someone from u.s. -- from ubs that clients should diversify. rachel reeves returns from china after a week in which markets pummeled u.k. assets. good morning. happy monday. another day, another reigning end of that surround the fed, just 28 basis points priced in, just one interest rate cut expected in 2025 after the jobs data friday came and hotter than many expected with the unemployment rate going lower and a total jobs number coming in at 256,000. you saw the selloff in bonds again friday, markets readjusting and equities stateside sold off heavily friday. there's been a challenge session in asia as well. ftse 100 futures pointing lower, s&p futures around the selloff friday currently pointing lower by .4%. nasdaq 100 futures looking to lose 125 points. the treasuries we focused on are not trading today because japan at least for the moment is closed for a holiday. treasuries will open for trading later in the day. focusing on euro-dollar and the pound. that surround further pound weakness are bei

but you don't see jamie dimon racing on down to mar-a-lago.ou don't see jamie dimon sitting next to him at the inauguration. there's a difference between being a ceo and having to do business with the white house. i'm sure once trump is president, if jamie dimon gets called down to the white house, he will show up. he'll he will obviously work with or meet with the treasury secretary. that is different from mark zuckerberg, who i'm going to say i'm more of an alpha male than he is, is now saying, this company, you're going to bring some more masculine energy to msnbc. i'm going to bring some more masculine. his company needs more masculine energy. my question is sheryl sandberg, guess you ain't leaning in now that you're just sitting on the board. all right, gentlemen, thank you so much. when we return donald trump's picks for defense secretary dodges questions that could involve our military, like trump's plan to take greenland over or the panama canal. and our next guest has a lot to say about it. as a veteran. and former congressman. max ro

and as jamie dimon said, i mean, get over it. you know, when he talked about tariffs, let me. >> let me play that jamie jamie dimon just so people know what you're talking about. listen. >> i look at tariffs. they are an economic tool. that's it. they're an economic weapon. you know depending on how you use it and why you use it and stuff like that. and you know people argue is it inflationary and non-inflationary? i would put it in perspective if it's a little inflationary, but it's good for national security, so be it. i mean, get over it. national security trumps a little bit more inflation. but i think really the question is how they get used. >> jamie dimon doesn't worry about inflation does he. >> jamie dimon doesn't have to sit there and worry about the price of, i don't know, groceries, the price of gas, the price of anything. >> washing machine whatever. >> because he's on all time high right now. >> because he's giving me. >> bird flu. >> well energy was one of the things they brought up, too. i mean, by bringing down t

>> it's classic. >> jamie dimon. >> it is a statement. of reality and pragmatism. >> he's squaring the circle. >> jamie dimon knows full well the. >> long term. >> economic impact. >> of tariffs. >> what he is saying is they're coming. we'll get used to them. manage it, get don't don't make it a big deal. and he's right insofar as because look here at davos i've been talking to other. i was talking to gary cohn former administration official in the last trump administration. and gary cohn national economic adviser. he was saying look tariffs are going to come. we'll see what they're going to do. we all know what they the risks are. we'll manage it when it happens. and that's the basic view of those people at the top. the gary cohn's the jamie diamond's. but what they also say is don't try and tell us black is white. don't try and tell us up is down. we know there will be an inflationary impact as a result of which which that will have to be managed. but this is classic jamie dimon. >> as you pointed out, they are at the top for a lot of f

when jamie dimon says that, there's reason to believe it. but with that said, these indicators are not a timing mechanism. we saw it all the time. but what i've tried to say is, what these suggest is the market has less and less room for error on the upside. >> so, you know, i always like to hear what jamie dimon has to say. >> of course. >> of course. i feel like animal spirits don't trade to fair value and stop, right? so, the pendulum has swung. we don't know how far it is in its path to go. i agree with you, you know, you can't really trade around and try to say, oh, i'm going to sell at fair value and i will absolutely have a chance to buy them back later. doesn't work like that. so, for me, i'm always staying long, though i do look at is the volatility index. i think it will be higher in the not too distant future, so, i'd be inclined to buy protection there. >> yeah. last night, you were casting some doubt over these commitments, as well, in terms of the a.i. infrastructure project. >> listen, all these companies have already committe

and that's what jamie dimon it was classic. jamie dimon basically saying the pragmatism, if it comes, it comes, we'll deal with it. but i spoke to gary cohn, who of course was the former director of donald trump's national economic council. and i asked him about this issue, particularly on the question of when tariffs come in. prices go up for consumers. >> at the end of the day, if you want a tariff, something that you manufacture in your country to protect your workers and protect your your gdp, i understand that. but if you're going to tariff something that you import that your citizens want and you're just going to raise the price on it, it becomes a consumption tax. i have had a hard time understanding this concept. >> so squaring that circle, because many people have a difficulty. on the one hand, you're going to have revenue coming into this new external revenue service. the importer exporter will pay it, but that's going to be passed on to the consumer. jake, you and me will eventually pay it because otherwise the profi

is this jamie dimon finally putting his foot down?> this was one of the questions that loomed over this week. came into the spotlight before the earnings were announced. jp morgan announced that coo and president daniel pinto would be retiring at the end of the year. jen pip sacked would be named the coo position. doesn't want to be the next ceo. diamond has been at the head of the bank since before the iphone was invented. it's been a really long time. he's turned it into the country's largest bank. it's just difficult because he is such a figure in the industry. there was a joke about, five years more. he told investors in the middle of last year that that timeframe had changed. yesterday during the earnings call, he talked about how there are candidates that the media analysts may know about, there may also be one or two that they don't know about. a little bit of building suspense there and adding to some mystery. this has been one of the biggest questions of the week. tom: this story will continue to fascinate in terms of the suc

. >> greg: and a big win for the tariff titan, jpmorgan chase ceo jamie dimon is seeing the upside ofting the world rip us off. >> i look at tariffs, they are an economic tool, that's it. they are an economic weapon, using stuff like that, people argue is it inflationary, not inflationary? i would put in perspective. if it is a little inflationary but good for national security, so be it. get over it. >> greg: wow, like speaking to harold. jesse, i'm going to use a food analogy. >> jesse: i'm already hungry. >> greg: isn't donald trump like salt? you added to every meal and it gets better. throw him at the wef and suddenly it's like appetizing, it is fun to watch. you are kind of electrical oil, where you overpower and you ruin every meal. >> jesse: i was having popcorn with trump one time and he took one of those industrial size canisters of salt, and he just told it like a football and pours like a thick, steady stream of salt -- i couldn't believe it. i talked to one of the anchors in the elevators the other day -- >> greg: good reporting. [laughter] >> jesse: gumshoe reporting. an

jamie dimon is a smart guy. i have a lot of respect for him but he knows what matters are his clients. they want allocations between 1 and 3% for their portfolios. he will give it to them. he would prefer if it was done through a regulatory platform that he was compliant with. so we need the new administration to come in and put those rules in place so we aren't debating whether a theirium is a commodity but the potential of digital currency should be owned, controlled and developed by the united states of america. in the case of stable coin of the u.s. dollars, these are all facts. so we have been held back by ginsle. from the sec. they have to get their act together and they will under trump. >> bill: thank you, kevin o'leary, good travels to you we'll talk real soon. thanks. >> horrific incident to have to live through and just watching that tape just really i couldn't even watch it all the way through. >> dana: new york city mayor on the sickening subway fire murder last month. suspect set to be arraigned to

jamie dimon's message -- >> jump in, let me just say a fool be situation.p said 60% on china now 10%. we got to be flexible in terms what we're hearing coming out of washington. >> what he said and does, learned our lesson about that. >> yes. >> i got that. >> okay. >> jamie dimon writes in terms of tariffs, get over it. right? i guess we'll deal with it. >> we'll deal with it. >> and it's not going to derail, though the prospects of this market? >> i think this market's going to continue to be driven by earnings and i think we are seeing productivity improving, continue to improve. doing it for quite some time. back to norm's productivity growth. i think we'll see it possibly doubled, 4% by end of the decades. i still think looking at a roaring 2020s scenario with technology boosting productivity in turn means record profit margins and i think s&p 500 earnings up to $400 a share by 2029. i think earnings are kind of the, let the force be with you and certainly what we're seeing with earnings. >> all right. we'll see. ed, thanks. talk to you soon. >>> up ne

taylor: that's what jamie dimon got at jpmorgan. david: i'll take that in cash.o as we know the big banks just posted record years, and so a lot of that could be justified. also, only a million and a half of that is base. 37 million of that is bonus and incentives to align his interests with the company. david: whenever you go above a million i wouldn't start with the word "only" but let's go to disney and bob iger. taylor: similar story pay up to 30% to $41 million a year, remember his contract is up at the end of next year. they want a successor in place this time next year. david: boeing just released their forecast for the fourth quarter after the labor strike. we knew it was bad. how bad? taylor: it was bad. now the markets up about three-tenths of 1% understanding these are early results so we have time to digest the numbers before we get the real results. they are looking at what is going to be about a $4 billion loss taking a $1.1 billion charge on those two airplanes, because of a strike, because of a labor agreement. revenue also coming in about lower a

morgan chase chief jamie dimon. >> i look at tariffs. they're an economic tool. that's it. an economic weapon. depending how and why you use it and stuff like that. people argue is it inflationary or non-inflationary? put it in perspective. if it is little inflationary but good for national security so be it. get over it. >> harris: mark meredith is reporting outside the white house. >> i sure am. good morning. trump advisor says globalists are not likely to enjoy the speech that president trump is about to give before the economic summit in switzerland expecting to hit a number of key points on the campaign trail on the america first agenda. we've seen him shake up so many things with the executive orders issued throughout the week and more orders coming this afternoon, harris. however, the biggest changes have been how trump is trying to reshape some of the federal bureaucracy itself push than out some federal workers focused on diversity and people returning to offices. trump told fox major changes had to be made. >> president trump: with time, effort, money unfortunatel

cheryl: if i am jamie dimon or brian minehan going to do investigation see if lower level staffers may have taken matters into their hands i mean, these are large corporations with tens of thousands employees. john: if they find out staff was a at banks, were denying banking services, to customers because skrefrs not because told to do so staffers, bye-bye they are gone. cheryl: at scandal at wells fargo, things do happen not saying it did in this case but the fact that melania trump in october told maria that happened to her when trying to do charity work a lot of questions a lot of questions, i know president trump also was aiming to make america crypto capital of the world yesterday so signed executive order to clarify regulations in crypto industry. >>ly measured ai crypto czar david sacks first one-on-one interview to "fox business", after biden administration -- drove industry offshore percent executeing comaenz. >> i have heard so many outrageous stories by if i understooders, intrups biden administration would not tell them rules of road they would get prosecuted what industry

jamie dimon is going to go to the white house.ets called, jamie dimon is going to work with the treasury secretary is going to go to joe rogan's man cave in austin. >> no, but but he never he looks scared because we knew he was reversing himself. and to me, he looked weak. >> he looked scared and weak because he's not telling the truth. because no, at no point in his whole life, while he was wearing spf 900 and for wakeboarding, did someone say, look at that masculine man? >> well, the other thing about this is, is even if he was meaning to say boss energy, that's not what he said. and so for a lot of folks out there, what they hear is let's get the men back in charge. women have been working for decades to try to get in charge. it's not like the tech industry is doing great. they are probably one of the main poster children for not promoting women. what is it like 35% of the workforce? 11% of managers. and so all i'm saying is he's sending a message. whether you think that's the message he meant to send or not, and he is somebody

jamie dimon addressed this issue this week saying get over it.s security involved. take a listen. >> i look attar riffs, they are -- at tariffs they're a economic tool. that's it. they're a economic weapon and depending how and why you use it. inflationary and noninflationary. if it's a little inflationary and good for national security, so be it. get over it. charles: get over it. what makes his comment even more interesting? face it, it's that big business, the big business community. think about this and they've surrounded the circles around. they want to protect open boarders, they want to protect h1b visa plan and like the international trade deals in part because, well, corporate america, wall street has done very, very well with the deals. not sure everyone else can say the same. now, my next guest says that it's a clear example of antigrowth protectionism and overall the good outweighs the bad with trump economics. bring in darius dell. darius, first of all, it's a new day. the protection ain't as bad as it was two weeks ago. >> not at al

jamie dimon wasn't always a big fan. he is defending trump's policies in every interview he does. why? because he understands the impact that deregulation will have. that's why you are seeing such interest in america and investment in america. yes, people talk about tariffs as something to watch, perhaps a worry. the "wall street journal" wrote a lot about that. also a feeling that trump's policies are actually anti-inflationary. deregulation is actually anti-inflationary. as you know, the president uses tariffs something of a weapon. he uses it as leverage. he wants china to stop the fentanyl coming into america. he will tariff china until the fentanyl stops. he wants to be treated fairly. the europeans do not buy our cars. they do not buy our agriculture. he wants a fair and reciprocal trade situation and put tariffs on to make it. he uses tariffs as leverage. i'm not worried about tariffs. >> dana: over the last few years since i've been doing "america's newsroom" and had a chance to learn from you you talk a lot abou

jamie dimon is saying that a strong dollar isn't bad. stay small to avoid it altogether. if you're looking for opportunities outside of the u.s. there are three international markets set to skrout perform under trump 2.0 we can only guess one of them. here's another one. it's not as obvious if you think you know it tweet me and we'll reveal it ahead. >>> dom chu brings us the afternoon news. >> the lede, the stock market overall, at least for one key index the broader large cap s&p 500, which currently sits at 6,094, up 45 points, we do have a new highwater mark, it was 6,099 back on december 6th. it's one point higher at 6100. that's your new record level. 6,094, up 45 points, near session highs. about 27 at the lows. again, new record highs here, the dow industrials a couple percent away from their own record highs. it's up 100 points. the nasdaq composite, that trade leading the way higher. up 1.5%, good for 280 points, less than 1% away from a record high for the composite index. one of the big driving forces for that tech media trade is netflix, currently up 10.5%, a

jp morgan chase ceo jamie dimon chiming in on a podcast this week. >> we're not allowed to tell you where we de-bank you. we think there's a risk of fraud or money launders and don't de-bank you, we'll get in big trouble and there's a chance they'll be stepping over the line but you know what, someone who's innocent and five years later they're proven guilty, it can cost us hundreds of m. we have to apply the law but it's ambiguous and punish if we make a mistake in the judgment. reporter: banks are saying it's not their fault. liz. liz: great reporting. >> byes way, speaking of you and you've done a fantastic job but i hope you start open your bank to conservatives because n many conservatives complain that the banks are not allowing them to do business within the bank and that included a place called bank of america. this conserve -- they don't take conservative business and for regulators mandated that because of immediaten or what, you -- biden or what, you and jamie, i hope you open your bank to conservatives because what you're doing is wrong. liz: taxpayers president trump calling

andrew earlier talked to jeremy dimon long time ceo about some of these issues, and listen to what hethe market, which i think is interesting. always pay attention to dimon when it comes to asset values, and he has a strong opinion. >> i think asset prices are kind of inflated. by any measure the top 10 or 15% of the u.s. stock market, but it's not true of stock markets around the world. credit spreads are at all-time highs. so they're elevated, and you need fairly good outcomes to justify those prices. and we're all hoping for that, and i think having strategies helps make that happen, but there are negatives out there and they can tend to surprise you. >> not totally inconsistent with what dimon himself, guys, has been saying for a while. you'll remember back in 2022 when he warned of a hurricane coming. the hurricane never materialized. he's still focused on the same risks he's always been. geopolitical risks, high global deficit spending, risk of higher inflation rates. but it was notable because he talked about the market, which now as we're watching is near an all-time high and

i understand why this is happening, that's okay, because jamie dimon said, so be it. >> right.'s the story that has to get out, right? it's going to be told that way. people have to understand. if that happens, this is the reason. and it is about national security. and i think for the most part i said most of the country, i think, will support it, because most of the country supported this change knowing all well that this was part of the conversation. and to your point, i do think that the tariffs are more of a negotiation tool. he's already softened on the china tariffs, you know, thursday and friday of this week he kind of pulled back on that. he's still putting the pressure if on mexico and canada, but he's pulled back from europe and china just to see how it prays out, so i think -- plays out, so i think it's a negotiate. jackie: gary, your thoughts on in this? >> there's in numbers. we're nearing a $20 the trillion economy and germany is less than 5. so we are bigtime. we have been abused by many countries on the trade front, so he's putting them on notice. and i gather t

jamie dimon said that he has repaired his relationship with elon musk and added that musk is, quote,tein." but he may have meant that the way people say einstein sarcastically. [ laughter ] a woman in turkey recently set a guinness world record for crushing the most watermelons with her thighs in one minute. [ light laughter ] and nobody is happier for her than her husband. [ laughter ] and finally, general mills has announced that it will offer a new totino's pizza flavor, cinnamon toast crunch cereal, making it the perfect cereal for what it's time to go to work but you're still drunk as hell. [ laughter ] that was the monologue, everybody. we are -- [ cheers and applause ] -- on our way. we've got a great show for you tonight. he's an emmy-nominated comedian, producer, and actor you know from "big mouth" and "oh, hello!" on broadway. now he's back on stage in "all in: a comedy about love" at the hudson theatre. my good friend, nick kroll, is back. [ cheers and applause ] never a bad time with nick kroll. and she stars in the critically-acclaimed series "severance" over on apple tv

as for my friend, jamie dimon, that is easy for him to say.ar hurts us from the bottom-line standpoint. we have seen an acceleration on the strength of the dollar in the last couple of months. it had an impact on the quarter. we did overdeliver. it will have an impact on the balance of the year. it is a headwind. for how you handle that? what does that mean from the operations basis? you are standing by your guidance for the year. you have to make up for it somehow. >> several years ago, as we came out of covid, we had the combination of foreign exchange, commodities, and transportation cost escalation. they took out 50% of our profits over a two year period. the team offset all of that, and more, through the focus on productivity. we remain focused on productivity. we have about $1.5 billion per year to deal with these things. by the way, not only did it offset the impacts, we grew. they did increase at the same time, the pending on innovation and commercialization of that innovation. i have a lot of confidence in our team. it is not easy. we

and i. >> think we asked jamie dimon of that yesterday jamie dimon david solomon maybe both of them. just this idea that if you watch what's happening in the united states from the deregulatory look at things from the pro-innovation pro-business approach, who was it? i think it was jamie who said, yeah, they are. european leaders are looking at this very closely and realizing that they are going to have to adapt. otherwise they're going to look like a less much, much, much less attractive place for capex and for businesses to start doing business there. so it's interesting the impact it's having already. and one of our guests earlier this, i think it was brian moynihan on on monday or tuesday, pointed out that the difference this time around is everybody's reacting very quickly because the trump administration came out of the gate with so many things, so many moves that they were doing instantaneously. andrew, back to that big tech battle that was heating up on x, the one you were alluding to just a moment ago. there was a big back and forth over stargate. stargate funding. elon musk

where's jamie dimon.who got to ask him questions. >> expressing he's so good. >> peter i mean. >> you're right on everything right now. you know what. because they're. >> all living in a world. >> of ultimate short termism. >> and in. >> the short term. it's going. >> to. >> work for them. >> but maybe not for mr. dimon. >> because i. >> want to share something else. he said. >> that was. >> to me, bonkers. this one was. >> directed at. >> brian moynihan. >> ceo of. >> bank of america. >> watch this. >> you've done a fantastic job, but i hope you start opening your bank to conservatives, because many conservatives complain that the banks are not allowing them to do business within the bank. and that included a place called bank of america, this conservative. they don't take conservative business. and i don't know if the regulators mandated that because of biden or what, but you and jamie and everybody, i hope you're going to open your banks to conservatives because what you're doing is wrong. >> what in t

and so that's what jamie dimon is saying. this is happening. this is coming.ut how to do the best we can for our customers and for our employees in this environment. >> in the campaign, president trump really pushed hard and drove home a message that he would be the person to bring down everyday american prices. yet you look at what's happening at the grocery store. egg prices are up 38%. what's going on there? and can trump do anything about it? >> well. >> so the interesting thing about the egg problem is that this is two years in the making. this is a bird flu problem. so this is an animal health issue. and we haven't heard the president say a lot about it other than prices are too high. it's joe biden's fault. i'm going to lower prices. he has promised to lower prices for groceries on the campaign trail. he did. he had promised to cut gas prices in half. that will be very difficult. gas prices actually have been rising in the past few days. we haven't heard specifics on what he would do about the bird flu, but we do know that people are very concerned abou

jamie dimon and goldman sachs, or if the rich pay the same percentage the middle class does we would have a balanced budget. does he know about that and he doesn't like that idea? those are the two questions i would like to ask. guest: the teeing up terminology i use, that is not a technical term. it is preparation before presenting a piece of legislation or an idea. the fact of the matter is that previous trump administration prepared to lay out a trade agreement with kenya. it requires a lot of work. there is a lot of diligence necessary because like i mentioned the growing technology and a lot of moving parts to this type of negotiation. often times a trade agreement will be presented and start out with nowhere near the votes to pass. it is my sense that the opinion trade agreement would have received a strong bipartisan approval. i sense there are more democrats all the time looking at growing opportunities in america by engaging with our trade partners, in this case kenya would be an example. host: he also asked about collecting more from wealthier americans to benefit the middl

but today, jpmorgan chase president jamie dimon, who's in davos at the world economic forum, actuallyaid if it's a little inflationary, but it's good for national security, so be it. seemingly now approving the tariffs and changing his tune. is there a bright side that we're, you know, that maybe people haven't seen in the past that they're starting to see. >> so i'm going to just have a word on national security. so as a. >> member of an international working group on russian sanctions, i am going to be the first to acknowledge that there are cases of national security. right. and kind of global issues that would warrant economic action, right. tariffs, sanctions and so on. so it is definitely a tool. and so that sentence kind of without any further context, just saying if it's important to national security, we can live with a little bit of inflation. that is true. there are definitely circumstances in which that may be the best course of action. now for individual trade partners, there really starts to matter whether we're talking about a rogue regime, right? and in the past, the u

jamie dimon out there in davos. latest voice to once again say the market is trading at a very lofty valuation. are you concerned about that. >> you know. >> i'm not sure. >> a. concern is the right word. i mean. >> we're. >> certainly paying attention. but but lofty valuations have to. >> be you have. >> to be deconstructed. if we're. >> talking about something like the s&p 500. and you know, if you look at the mac seven you know those are you know those those have price earnings ratios or multiples that that are in the 30s. look at. >> the. >> rest of the market. you know those multiples are like. >> in. >> the teens. and so you know like overall like you know it seems like the market has a very high valuation. >> but if you break. >> it down into sort of component parts, it makes sense. why why the mac has such a high valuation and the rest of the market is. >> sort of normal. >> so, you know. >> i think we're watching it. >> but but i. >> don't think concern is the right word. all right. what do. >> you think ab

his wall street rival, jp morgan boss jamie dimon has also been talking about business optimism for at days before the inauguration on donald trump, with his plans for lower taxes and lighter regulation. well, as michelle mentioned, the trump affect is already being felt by wall street bankers. goldman reporting its biggest quarterly profit in more than three years boosted by buoyant markets and fees on deal making. it was a similar story for jpmorgan as well as citigroup and wells fargo, who all reported a surge in profits. frances coppola is an independent banking analyst. is it time for the wheeling and dealing and to make big profits at the banks? it dealing and to make big profits at the banks?— at the banks? it looks like it. this is all— at the banks? it looks like it. this is all about _ at the banks? it looks like it. this is all about the - at the banks? it looks like it. this is all about the election | this is all about the election of president trump. there is an expectation in the banking world this is going to lead to a relaxing of regulations. we have had 15 years of r

his wall street rival, jp morgan boss jamie dimon, has also been talking about business optimism fors before the inauguration on donald trump — with his plans for lower taxes and lighter regulation. well, as michelle mentioned, the trump affect is already being felt by wall street bankers. goldman reporting its biggest quarterly profit in more than three years boosted by buoyant markets and fees on deal making. it was a similar story forjpmorgan as well as citigroup and wells fargo — who all reported a surge in profits. as banking analyst frances coppola told me earlier. iam sure i am sure that in the mind of regulators, that will be very much what they are thinking about, how to really walk this tightrope across the abyss of the crisis, saying how do we relax regulation enough to please the new us administration and to free banks to make more profits to free banks to make more profits to do more deals? without setting up another dangerous spiral like we had in 2008. around the world and across the uk. this is bbc news. social media giant tiktok is making plans to shut down its us op

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more complicated than that and davos last weekend and world economic forum and hearing from jamie dimon and that's the largest bank in the country and it's really interesting. americans should be paying a bit more and one time price adjustment for the cost of securing our border for national security, for making sure we can have antibiotics in the country and not dependent on covid and hoping china would open up their ports and ship them to us. now, i think that's really hard, trey, for americans to feel that given that on average we've seen the price of everything go up about 20% in the last four years and that's the point that one small tiny price adjustment during the cost of fair trade and cost of making sure our partners are playing equal with us and that might be something americans might be able to digest and talking about regulation to get into that and going for cost of goods can fall and it's much more nuanced than tariffs or attacks. trey: i want to follow up on that and assume we own the company and you're the president and i'm thes vice president and we go to the president

we looked at jamie dimon's statement and he's ceo of bank of america and inflation is on the horizon and look at consumer price index today and particularly the core year over year, sure, it was slightly less than the expected 3.3%, but at 3.2%, the cpi numbers are still indicating, at least to me, what the heck do i know, that inflation is sticky. so how do you see it as it pertains to the rally going on right now and whether you're buying stocks? >> yeah, that was a fear with how much fear is baked in with inflation and interest rate trajectory and we've been able to calm investor withs this idea that maybe, maybe inflation is sticky and not moving higher, which me means that maybe the rumors about the fed potentially hiking interest rates instead of cutting after a potential pause is not on the -- in the cards so i think investors feel good about that that i agree with you, i think inflation is sticky. when i look at banks, i will say the one thing that stood out to me that not a lot of people are talking about is health of consumer businesses and those were quite strong and delin

dimon usually puts a cloud over his earnings. he wasn't that pessimistic. expectations. they exceeded that. the earnings were just out of the park. jpmorgan and goldman and what citi did yesterday. these are the stocks you want to lead. m&a activity picking up. two mergers this past monday. to me, things are looking good and jpmorgan is the top of the class. >> we had three ipos this week. one of the first a.i. ipos this week. jay woods, jpmorgan is your pick. good to see you. >>> here's what to watch. housing starts and industrial production all before the open and regional bank erjs arnings the focus on truist and state street. cnbc with the special inauguration coverage on monday at can 8:00 a.m. that will do it for "worldwide exchange." "squawk box" starts right now. >>> good morning. cease-fire deal between israel and hamas appears to be back on track. i'll tell you when it could take effect. >>> president-elect trump's treasury pick scott bessent making the case for tax cuts and tariffs. while we'll show you the highlights. >>> it's unmanned spacecraf

meanwhile, the jpmorgan cfo hinted at further buybacks after jamie dimon said it would not buy back af stock at this prices. all of the banks benefitted from soaring banking fees and looser policies helping lenders boost income by as much as 59% in the case of wells fargo. the downward shift in interest rates weighed on interest income as you would expect. investors welcomed jpmorgan analyst it will bank $94 billion in nii next year. in the fourth quarter, it posted its first decline in the metric since 2021 down 3% to $20.5 billion. wells fargo net interest income figure came in higher on the quarter, but more than 7% down on the year at just under $12 billion. said the metric could rise as much as 3% this year. bank earnings will continue out of the u.s. today with morgan stanley and bank of america set to dominate the conversation. let's get a check on the pre-market moves. we have both bank of america and morgan stanley tracking higher, but let's see what will be the messages and respective share price moves later today. we will hear from citi's jane fraser. she will speak to cnbc

growth managers we find a portfolio so we can get back to loan growth also like an oxymoron but jamie dimonr as it will do munificent december 31 that will not be as important interest rates might come down but going forward the guidance can be key to these companies bankamerica and so forth. the rate at 4.7. and for new quarter that's a pretty big rise and there will be unrealized gains overall banks are in good shape then the stress test over and over and less regulation the bank is excited on so many different industries the banks of the big release of the pressure nonstop stress test. i think this is the sector that may benefit the most of less regulation. >> john lonski, yellow layer on one more issue that is the extreme fire damage in los angeles. now analysts are trying to understand the impact. td cowan the extreme fire damages raising policy questions for financials despite insurance being state regulated they expect headline risk on possible ration on federal insurance and reinsurance programs. >> it looks that insurance rates are higher because of the horrible tragedy in los ange

jamie dimon coming out saying stocks are a bit overvalued. are you worried about that at all? jot risk might be on the growth side and keep many mind we're going to be slowing from a very elevated rate and you're coming in at real growth at how farly 3.1% and the trend prior to the pandemic running about 2.3% and thinking about some of the individual items like state and local spending probably go to slow a little bit, con couples slow ago bit and defense spending going to slow and add all the individual items and making the case coming off the boil trillion 301st but settling to -- 3.1 but settling for a raise on the longer trend and it's good for the corporate backdrop. liz: scott, we didn't see sell the inauguration. that has not happened. awhat do you look forward that might be a bit of black swan and people should be careful of? what hasn't jumped up enough that you still really like? >> well, everyone is worried about late night tweet bomb ntsb president and saw that at the inauguration when he said potential tariffs on mexico and canada with 25% and futures went from up