the district chief of staff and allison williams, you are here. child abuse attorney, family attorney. i will start with you. your boss was one of two republicans to sit on the committee that was did he seened to help puerto rico after the governor, the current governor got in and realized the debt was too much and simply did not have the money. >> yeah, a leader on this in the bipartisan fashion and worked with members of both parties to help jump-start the economy of puerto rico which has been struggling for quite soil time. the point to note here is through the leadership much? will see legislation hopefully moving through the house of representatives that really help grow the economy from the ground up to address the structural issues that connection long before the storm hits. bill: let me ask you. according to what i have read. six in ten kids in puerto rico are living under the poverty line. seems to the president's bold statement whether he has the ability to do it 100% or not. this sounds lake good set for people who are struggling. well,

yvonne: allison williams -- alison williams, thank you.till expecting preliminary earnings from samsung. also, i look at the company's fight for suppliers with apple. issuingresident trump executive order on health care, interviews for the next fed chair, and announcing his decision on iran. this is bloomberg. ♪ yvonne: this is "daybreak asia," i am yvonne man in hong kong. betty: i am betty liu in new york. president trump expected to give his verdict on iran, having waited new strategy to curb its nuclear ambitions. greg, this has been anticipated for quite some time. what is president trump expected to say about iran? is he expected to decertify the deal? >> we do not know. the administration has cap this decision close to their chest. he has been saying for weeks that decision has been made, we just do not know what it is. their options, including decertifying the deal. he can ask congress to impose new sanctions or other laws to enforce the deal. we will find that out tomorrow at 12:45 washington time. betty: what if he does kick the

joining us now is allison williams.is a story of morgan stanley eating goldman lunch or a different story? >> we talk about revenue share in the quarter. a lot of times it is what business are you in, where are you focused and how is the business doing. it is a very solid quarter for morgan stanley. we wind up having goldman sachs coming out as well. we will have to see if it's comparable. banking revenue coming in at 1.8. that also saw a nice estimate. the stock of 5.2%. it looks like a really big lead on earnings. we don't know if it's comparable. we did see a beat versus estimates coming in at 1.4 5 billion. at 1.6 7a little light billion. i know we are still going through this. at first blush it seems a little bit encouraging. it is worst performance since 2006 for the first half of the year. >> it does look encouraging. my guess is whenever we get a big beat that goldman that tends to be a little bit more volatile. the line probably benefited from asset price movement in the quarter. i think we are going to have to

let's get straight to allison williams. what are you seeing?lease myself. so far, it just looks like revenue on target. i have not seen the equity trade numbers. tom: icy sales and trade revenue ago,15% versus a year which seems to be better than the decline at jpmorgan. down 22%. alison: that is spot on with analyst estimates, actually. it is interesting, the numbers for trading for each of the banks coming in right as expected. ,pmorgan had a steeper decline 30%, however they had a much better quarter a year ago so that was expected. if you combine jpmorgan and citi their combined decline was 22% and that is what we are seeing at bank of america. francine: if you look at the equity trading business, the revenue for the third quarter seems pretty much in line with estimates. we were expecting a 985 figure. is this enough to show they have not done so badly or will shareholders expect more? goes,: as far as trading shareholders will be happy. i think what investors will be looking for today are the consumer numbers, which i have not seen yet. w

allison williams pointed out you have talked -- tough comps when it comes to prices.u have tough comps and you have massive losses -- earningsuarterly reports a one-month does not necessarily affect the broader trend. when you finish q2 at 2.3 -- the net interest will be relatively model -- modest. you also have expected losses on the insurance side from the storms at that yet he of august beginning in september. the majority of the downward insurers.come from you are seeing analysts beginning to price in the fact that this will be an inexpensive thing for companies to deal with going forward. looking for financial earnings to be flat in the u.s. on a quarter over quarter and year over year basis. i would see the risk is to the upside. analysts usually underestimate earnings. i think you can look for perhaps 2% to 3% growth to the upset. underestimated going into earnings? david: to what extent to the banks have control because of return of capital. whether it is a buyback or a dividend, they have more flexibility than they used to have. to some extent, can they contr

allison williams of bloomberg intelligence joins us. what is your take on the consumer health?onsumer is coming in at the higher end of the range, but consumer charge ups come from rising from the shouldd something we expect to happen. what was more disappointing at citigroup was you have some of the trends in their portfolio and expected to see some revenue growth, things getting better, and they had higher balances, so things a little bit worse on the margin. for is more important citigroup than other banks and something people will continue to watch. for these major banks, mortgage still very good and strong and that is where we saw bank of america this morning. for them, mortgage is much bigger versus banks yesterday, and their provision coming in better than expected. wells fargo looks a little worse than expected but that is about in mind with the cost, which you will want to dig into the details, things coming in much worse than expected. david: the earnings-per-share is what jumps out. alix: that is a big mess. david: exactly. alison: the cost is much higher than expect

joining us is allison williams -- alison williams. cost is one thing we are looking at. with revenue uncertainty growing, it looks like they did well on that front. , spot on.me trading it is interesting when you can get that exact. banking fees a little bit better. it is not surprising. loanve heard slowing growth, that is something we are watching in the banks. as these clients are tapping capital markets, less loans but more debt fees. they are down in their trading. how are they making it up? the debt fees coming in stronger than expected. interest margins are much better than one year ago. vix is down 26%. jpmorgan had one of the strongest quarters across the global period. jpmorgan saying loans and deposits continue to grow. that relationship on loans and what you have to pay on deposits -- how will that evolved in the coming months and what what have we seen? alison: the interest margins start to pick up. that has been positive. bit of asts, we saw a pickup. that stabilized this year. banks have been releasing reserves. that is a thing we are watching, windows tha

avenue a side from that 59 northbound dale city camera prince william parkway. 3 minute trip sutly road to beltway. 66. metro rail on time allisonteve. >> protests to progress. a big meeting on tap today to discuss ways to find common ground on kneeling during the national anthem. >> first check out dramatic video of dare devil juneing off a cliff free falling 00 feet ino semnyty national park with no parachute. 33-year-old camera completed the jump using a rope only. >> okay. >> that's -- there's the jump. >> they let them do this in our national park? >> i don't know what they're thinking, al. >> he wants people in case you didn't pick up on this not to try it yourself. >> yeah. . >> welcome back. will we see tax reform this year. top gop senator is thinks so. joining us from fox business network studio lauren simonetti. good morning. >> good morning. >> how is it going. >> doing well thank you. i'm wondererring if you have cool glasses for par if a nailia if we reach another milestone in the dow. >> we're getting complacent doup and only 23 point away milestone after milestone. august first we hit 22,000 a month and a half la

allison, this next shot is for you from william cornish sends in beautiful photos.at great falls in virginia. let's zoom it on in. little bit of color. >> it's an exciting time of year. >> my attention goes right to the falls which are always gorgeous. >> for sure. >> trees start to go show little bit of color and map out there showing that we're dealing with some fall colors around the region moderate color has pushed into d.c. this was updated as of yesterday from the foliage network always very good getting their colors right they check out satellite imagery and judge the colors from there. still low color down to the south. high color to the north and west typically we peak here in d.c. late october. i don't think we'll see the peak until the first half of november here in washington. hang in there. i know a lot of people are complaining the leaves are falling off rather than changing colors but hopefully we get halfway decent color in here shortly. frick degrees currently in washington. lots of 30s in the suburbs out there. 41 in cincinnati, detroit at 45. look

william parkway dealing with a heavy xhupt. a 1 through the points. delays through dale city outer loop college park picking up. allison and steve. >> erin, thank you. in d.c. you heard of poll holepalooza. and the program start twod years ago. since then mayor invested 175 million in local infra struckture repairing close to 200 alleys. we'll have more news for you after the oh, you brought butch. yeah! (butch growls at man) he's looking at me right now, isn't he? yup. (butch barks at man) butch is like an old soul that just hates my guts. (laughs) (vo) you can never have too many faithful companions. love is out there. find it in a subaru crosstrek. ♪ ♪ ♪ it feels good to be back. ♪ ♪ ♪ ♪ ♪ ♪ >> lauren simonetti, good morning. >> how are you. >> i'm doing well, how is our money? >> amazing really. dow surming 707 point closing out close to 23,000. 22831 and everyone is trying to explain rally and i really liked what i saw from morgan stanley. they basically said it reached epic proportions. you don't usually hear the word stock and epic used in same sentence. >> in a good way. >> we have low volatility and strong fun

william parkway there. south of that point some stafford congestion as well. all metro rail lines are on time. steve and allisonht erin thank you very much. >>> walgreens has narcan its 8,000 pharmacies. it's used to reverse the effects of overdoses from opiods. it's available without a prescription in 45 states. the company will educate patients about narcan if their prescriptions put them at risk of any >> sears reaching into its past to woo shoppers back. the company bringing back its wish book but it's going to have a modern twist. for the first time in six years again shoppers can check the catalog to tackle the holiday list and it's been updated. it includes now a digital edition that can be browsed on tablets and smartphones. sears loyalty members will get an edition through mail. >> sears has more lives than a cat. >> still trying to reinvent themselves. would you allow a stranger to come into your home to deliver a box from a.m. on. >> we'll talk about it. the online giant launched a new service so delivery people can get inside your house. would you want that? details next. >> ♪ >> ♪♪ at children'