she was the head of marketing at bank of america over the last couple of years. s more of a esg evangelist and playing a big role in repositioning bank of america from a strategy perspective and how it was perceived in the public eye. matt: thanks very much for joining us on this breaking story from bank of america. this is bloomberg. ♪ mark: i'm mark crumpton with bloomberg first word news. and a number of other military members were wounded after two explosions occurred outside of kabul's international airport. a taliban spokesperson says 13 afghans were killed and 52 others wounded in the blast and a number of casualties could increase. here is what we know confirmed by the pentagon. the first explosion occurred in a large crowd near the airport. the second last happened at or near the baron hotel, not far from abby gate at the airport. president biden has been believed in the white house situation room. the white house released a statement saying the president has met with his national security team including secretary of state antony blinken, secretary of def

think of america is betting on its come back -- bank of america is betting on its come back with a commerciald. we'll talk about business cards and traveling with them. this is bloomberg. ♪ matt: this is "bloomberg markets." bank of america is betting on a return to business travel, unveiling a commercial credit card for the on the go business people in a bet that work travel will come back. the new executive explorer car will offer perks like expedited security clearance at airports and insurance for lost or delayed luggage. for more, jennifer petty is here, the head of global commercial cards at bank of america. you focus on the traveling executive, jennifer. i am normally based in berlin and i am on my first business trip in a year and a half, and finally using my corporate card again. is this going to go back to the way it used to be? will we be back on the road, in the air, staying in hotels? jennifer: we are not there yet, if we compare q1 to q2, we have seen 40% growth. in the commercial space, we follow consumer trends. if you are in the airport lately, we know that travelers are trav

more on bank of america's patent push next. is is bloomberg. ♪ >> today, we are focused on artificial intelligence. the impact of it, we learned that 1 wall st bank is actually spending a lot of money and effort into turning. >> this tells it all. 227 patents were granted in the first half of the year. they are all related to artificial intelligence and big-box data. this was all related to ai. >> i feel if you get a penny for every time a company or blockchain -- catherine dockerty has been writing some great articles about it. what are you making of the race to get digital for these companies? what does it say about the banks more broadly? >> what is interesting is i connected with one of the innovators on bank of america's team. this is all about what is next for bank of america, how we will serve our customers and how we will integrate some of the teams that we had. it makes communication and the intelligence bridge the gap. that is what they have been doing for clients buying these new patents. they can use them to develop

wells fargo and bank of america. so i really feel like i've got myself sort of surrounding these financials in every different way that i can, including capital one which is far more of a credit card company. but i still love that name as well and i think there's plenty of room to the upside all of these names are trading very, very inexpensively i think right now. >> brenda, this plays into the story that rates are going higher sooner rather than later. that the jobs report that we got on friday with nearly a million new jobs and what may come in the months ahead is going to move the taper a little bit sooner perhaps than people had thought. i've got fed -- atlanta fed president bostick on the tape a few moments ago. says he's in favor of going, in his words, relatively fast on the taper. he could back a september taper decision if job growth remains explosive. quote, well, on the road to substantial further progress remember, a metric set by the chairman himself and he sees rate hikes and he's in the 2022 camp that'

bank of america is teaching toddlers can be racist. oddlers develop racist bias by age 3-5 and should be taught to recognize the smog of white privilege." bob beasley, that is the creepiest, scariest, most evil thing we have heard today. chris rufo wrote this story and joins us tonight. chris, thank you for joining us. this is shocking. bank of america is endorsing this? >> that's right, in the training program. bank of america denounces america as a whites premises country, and by extension expresses antipathy and hatred to 70% of its citizens, a pattern among our fortune 100 countries, adopting programs that are indistinguishable from the most radical critical race theory courses in our elite universities. >> tucker: i mean, what do they say -- they are teaching people that white children are inherently evil and racist, and their employees just kind of sit there and not? is anyone saying i'm not putting up with this anymore? if you said this about any other group it would be unacceptable. why are you doing this? as anyone fought back?

joining us for more on all of this is aditya bhave, bank of america securities global economist. ed his base case for the start of taper. bank of america now expects the fed to start tapering in november 2021 versus its prior expectations of january 2022. thank you for joining us. do we get alerted to a taper started earlier than expected at jackson hole? aditya: good morning. given the title of the conference, which is "macro economic policy in an uneven economy," there'll be more focus on the labor market, particularly how far have we come and how is the fed thinking about its employment mandate in the context of its commitments to an inclusive recovery. in terms of the taper itself, the july meeting minutes already signaled that the taper will start this year. we do not think jay powell has any compelling reason to signal more strongly than that, especially as you just mentioned around the delta variant itself and the impact it is having on the data. alix: when you take a look at the bond market today, pretty big selloff, big moves in europe. we are above technical levels for t

. >> the bank of america identification came up on my phone. >> david barnett thought it was a real bank all one him. >> he said there was somebody in georgia trying to make a withdrawal from my account for a large sum of money. >> he said david had better act fast to stop the withdrawal. >> in this day and age, it would be totally understandable. there is fraud, it is rampant. >> the man told him the best way to safeguard his money was to move it temporarily to another bank. >> he walked me through the process which i thought was very nice. plus the man told him to use this payment app to transfer his money to chase bank. >> as i was doing it, there was this little voice in my head that said this seemed very unorthodox to me. why would i be transferring money into another account but i suspended my disbelief and i made the transfer. quite as soon as the app whisked his money away, the awful realization sank in. -- >> as soon as the his money away, the awful realization sank in. >> i thought how could i be taken like that? >> unfortunately this was a large sum of money and i kissed the m

>> look, i like big banks in particular embracing this i talk about bank of america in particular thisng into the 2008 financial crisis. if you are a big bank you are really scared of occupy wall street. these woke values are really easy. they love anti-racism applaud diversity and inclusion put token minorities on board. disparate impact of climate change whatever it is they do. all they really do is make sure occupy wall street doesn't threaten power structure what you have bunch of woke millennials got together with big banks together woke capitalism and that allows them to put occupy wall street up for adoption. that's why they love training their employees how to be less white. they love to talk about systemic racism. talk about systemicken from risk not so much. >> will: cynical you are telling me, bank of america, lowe's, delta, coke. they don't believe ideas. they are using them to protect themselves from regulation? >> protect themselves from regulation and even save themselves some money. one of the things i talk about in the book which is actually little appreciated in the w

michelle meyer, bank of america securities head of u.s. economics. coming up, we turn to the rental market. rental demand soaring income and everyone wants to come back to the cities. but will that be put on hold with delta? this is bloomberg. ♪ ♪ romaine: welcome back. today, we are focused on the u.s. housing market. a lot of attention we have been paying to home purchases. but what about the rental market. we have been seeing a lot of inflation spillover. caroline: 17% higher in july versus what the previous tenants had been paying as an average across the u.s.. apparently that is a record. of course, we don't see if you are getting months free, for example. but a member when we were all thinking about whether you would return to the city or not. in the spring, months free, 20% discounts. the minute i tried to get a new rental, they were all gone. taylor: 18 months of the rent and six months of that are free and you are thinking, do the math, that kind of sounds like a good deal. all of those deals have escaped us. let's do that with beth friedman

bank of america said that rally in the dollar was driven by growth woes. peak growth. erica says the dollar rally was driven by the week asian sentiment, deteriorating in china. let me show you stocks. he reprieved in china, a bounceback in china. it is just the beginning of a floor. you have to be judicious in terms of where you put your money. asian stocks up 1.1%. my favorite line is when it comes to stocks, the analysts have never been as wide in their view of whether we are 1000 points up or down on equities in 10 years. that is the breadth of the range at morgan stanley. 70% downside, 8% upside. the dollar rose. let's roll it over, have a look at oil. stopped in its tracks. it had a turgid run down the past couple weeks. you are seeing a pause for breath on brent. if opec-plus met today, they very well would probably call time on the extra barrels putting back at the market. glorious bitcoin. back above $50,000. you hear all the calls written about it in terms of the fibonacci level, to get to $51,000, the record high. the euro cascaded lower. it rallied furiously

in bank of america fund manager -- highlighted in bank of america fund manager survey.uch do stocks miss? we see that with home depot, even though the timeline -- the topline line revenue is not bad. jon: sales are missed though. stocks are down what for percent in the premarket? lisa: i'm saying misses are overly punished. if they are overly forecast, there's not much gain. i much optimism is based into the market? that is something we will learn in the response after this comes out. jon: and also supply chains given what is taking place in china. tom: i am more optimistic than that but i take your point. it is about margins. you have to go down the income statement. there are different nuances in the margin. jon: first time since july 2020. they are looking for margins to fall. tony will be back, no doubt. down 21 on the s&p. we declined by .5% on the s&p 500. down three basis points on the tenure. with time king, lisa abramowicz, i'm jonathan ferro. this is bloomberg. ♪ s is bloomberg. ♪ ritika: with the first word news, i'm ritika gupta. it has become one of the big

jillian: bank of america and lowe's called out. carley: bank of america and lowe's encouraging employees to take a 21 day racial equity challenge. a portion of the challenge says black and brown people faced with obstacles to achieve economic ability across the country and here in the charlotte region teaches us to examine the policies that historically disadvantaged those population and benefit others so the racial equity challenge claims america is systemically and institutionally racist encouraging participants to decolonize their mind and get woke at work and urge white people to cede power to people of color. sensing a theme here. will: underlying this there are questions as to whether certain disadvantaged groups have been put down through the course of their time and there is some truth when you look at mortgages back in the day they were not given to black people and were funneled into bad areas, all that is historically accurate but to say that now someone who had nothing to do with that a 25-year-old getting a job at bank

michelle meyer, bank of america global research head of u.s. economics.ell tonight, minutes tomorrow. that is the big story. we will detail with the rest of the week looks like next. this is bloomberg. ♪ alix: live from new york, i'm alix steel. guy johnson in london. a lot coming up in the next 24 hours. aside from jay powell at 1:30 we'll hear from minneapolis fed president neel kashkari hosting a town hall. foreign ministers will also be having emergency meetings about afghanistan. we heard there conversation like between boris johnson and emmanuel macron. guy: the leaders are worried. the fear in europe is we get another huge wave of migrants. that certainly corrupted the german election. angela merkel keen to make sure that does not happen again. the same goes for emmanuel macron. tomorrow the fed minutes. you wonder whether power will be dovish at the minutes will be more hawkish. we will get -- we want to get sequencing in terms of how this will happen. we will hear from the dallas fed president. we will get inflation data out of the u.k. and the e

now bank of america. says some fongss are a trap some of this that were perceived to be a cheap place is dumb money because that money is in tubl trouble because it was a value trap what do you think? >> i do think we're entering into the next phase of this rotation i -- my view is that i wouldn't be overly optimistic about the next six to eight weeks in the more consumer cyclical trades based on the delta variant we're not going to be able to take what happened last year and -- and accept that that is going to be the similar situation from an economic perspective, because we won't have forced lockdowns. i truly believe that but we will have behavioral response, particularly we're seeing it in california. we're going to start to see it in the northeast, making choices from a personal perspective that could limit consumer spending. we saw that in the consumer confidence print i actually think the fed's going to be concerned about this print, scott because i think it's going to indicate that the consumers ar

differential call, where goldman sachs is looking for some animal spirit in 2022 and on, and bank of america has a much more cautious view. jonathan: it is where they think the earnings will show up. lisa: but also, there's a question of we don't know treasury yields. they have continued to go down despite all of the calls for them to go up. jonathan: if i could tell you the print, and i do not have the print, the white house has the print. if i could tell you the number coming out in 19 minutes, could you tell me how this bond market would respond? lisa: absolutely not. jonathan: that's where the tension lies. yields higher by three basis points. did you say something, tom? tom: dow futures are up. [laughter] jonathan: from new york this morning, it's a beautiful morning. this is bloomberg. ♪ ritika: the u.s. senate is set tomorrow to approve that $550 billion infrastructure package. it will be the largest infusion of cash aided cades before -- infusion of cash. united says employees must be vaccinated against coronavirus. united says employees must upload their injection records to a compa

lastly, the banks have been spending billions of dollars on technology bank of america has got some ofumer digital offerings of all of the companies, fintech and banks so the banks are not sitting on their hands not investing in technology they're at the cutting edge. especially our very large banks like bank of america and jpmorgan >> i think despite the recent run, they're still gnaw valued like tech companies. i am sure they wish they were. gerard cassidy, we appreciate you being here tonight thank you. >> thank you, leslie >> we have a lot more coming your way on this special edition of "fast money." up next, stocks that pay you back dividend plays we were just talking about dividends, always popular, and they may get a lot more attention if an eventual fed taper triggers a bout of volatility keep it here if you're 55 and up, t-mobile has plans built just for you whether you need a single line or lines for family members, you'll get great value on america's most reliable 5g network. like 2 lines of unlimited for just $27.50 a line. that's our everyday price. plus, our plans always

we had an analyst on with bank of america under perform rating 150 $150 pe target >> so it's interesting so we went from the -- these stocks being the savior on the front of covid, and they were, but now we're looking at extended valuations, as you just mentioned, and as well as the next line of headlines should be about side effects and should be because this was an emergency use, not an fda full approved vaccine, so there's going to be a lot of headwinds in the next year or so markets always price in ahead 6 months to a year, but if you look at the collapse that you just mentioned, to get to the 50-day moving average moderna has to fall another 26%. pfizer has to fall 11% in addition to the 5% it's already fallen to get to its 50-day moving average what's interesting is johnson & johnson is not extended because it has been the dark horse in the vaccine play it's only above the 50 day by 3.5% if you are going to buy a vaccine play, go with johnson & johnson. the other two have much more room to fall and the headlines are going to go from tailwinds to headwinds and i don't think it's a p

a cyclical leade leadership. >> let's bring in leishman and watched all data and you saw the bank of america report which is based on credit cards so it is recent daya, as of the end of july and they're sieeing moderation in spending what do you think the data tells us at this point, steve? >> we could be seeing some of the delta variant stuff creeping in i'm ultimately optimistic about this melissa, i this it is going to happen and it is happening i don't think anybody has the right metric to benchmark the reopening of a pandemic again. i don't know where you go back to, 1918 that was very a very different economy. plus the idea of the amount of fiscal stimulus and of course monetary policy out there. i don't think anybody knows what the right thing is to expect here i think by now some people thought we would have been off to the races and not looking back over our shoulders. suddenly we are. i think that has an impact and when i look at tomorrow's job reports, i think we're looking for 850,000 but some of the data i look at comports with the bank of america idea that maybe there is some s

buying the kre, buying bank of america, financial exposure. a lot of that is reacting to what was a very significant change in sector allocations for my quality momentum index and financials were elevated to the second leading sector. what i see here is that steve is not the only one who was positioned for treasury yields to move higher throughout the better part of the second quarter that's what we heard i know when we came on cnbc, we talked about the yields rising in the inflationary environment and that inflation friendly asset trade was liquidated through the month of july. so to me, the sweet spot is now repositioning that's going to occur. i think it's going to specifically occur in financials as a sector, even beyond energy and industrials. why? because i think you remove a lot of the geographic exposure there by having financials only. we still have to understand that the economy ex-u.s., covid trends ex-u.s. it does not look as good as the u.s i think the financials are the sector to be in as the yields continue to move higher. >> ban

the bank of about tina turner, paying amash to her in 1985. dani: bank of america gets a red card for that pun. i have had proud mary stuck in my head for the last 48 hours. there is no alternative. it's remarkable to see everyone walking toward equities but there will be lower returns for equities in the second half. so maybe don't load up on them. manus: that comes through when you look at the positioning. health is number one, tech is still the most crowded trade. growth is back at 27%, you are looking a real rewriting of risk. it cannot be said enough, the other thing that caught my eye was the language it came through. there's a split intern's of the find manager survey -- in terms of the survey. we will be playing those graphics through the morning. mr. powell acknowledge something very important. the powerful monetary policy has limitations. a shock headline. if you want to hedge yourself against that, look no further than what palantir technology is doing. specifically saying for a black swan event. here is a corporation that is preparing for a black swan e

and that's really been true lately lnlz to the data from bank of america showing nine straight weeks of inflows into technology shannon saccocia, i want to read you another stat, pulled out by the hard working halftime team this is bonkers. every 60 minutes in the markets global technology stocks increase $780 million in value $$780 million in value every 60 minutes, globally going back a few years. that's just nuts >> yeah, i mean, the -- it doesn't surprise me. you know, one of the things we've been talking about the last few years is every -- you know, every quote, unquote, dip has been an opportunity. i think what's happened the last few months is the relative underperformance of stock has provided opportunity we're seeing that. what we're looking at is thinking about where the aspen something going to be over the next few years and i -- you know, whether it's 2% or 2.5%, you know, gdp growth over the next two to three years, that's still sort of a low growth environment if we look back historically but enterprise spend is really picking up think about 2020 where companies were st

bank of america is catching up to its biggest rival jp morgan in asia-pacific investment bank three businessinto a business rebuild. they are sitting and the with revenue at bank of america growing $700 million and that contributes 15% to the overall business in asia, doubling for three years ago. hong kong exchanges new ceo downplayed a regulatory crackdown by china, which gets at the pace of ipo's and lead to a profit drop in the second quarter. net income missed estimates, falling 7% to $356 million. in the first earnings statement, since taking over, he says the backdrop will challenge the firm's showing strong interest in hong kong blessings. >> the activity has slowed down because some companies are evaluating the market. is this the best market for me to grow or not? it has slowed down. it remained strong but we have more and more companies that are inquiring about doing an ipo in hong kong. possibly companies that were perhaps other markets and now they are asking a lot of questions about hong kong. david: of course, the broadest story on h --is there coming out with earnings. we are

only bank of america i think is lower. we expect to see those rays as well? that will be interesting. bank of america has been sticking to the target. it's amazing now with wells fargo emerging as the biggest bu ll, now with more than a thousand points a spread when it comes to the s&p 500 year end target. one goldman was the biggest bull at 4700 or so, that was a 24% spread. that was the third widest in a decade. that number is even higher now. it really speaks to how much uncertainty is in markets right now. most of that is predicated on the path of the virus. in the u.s. and abroad, as we start to question the efficacy of vaccines against delta -- against the delta strain and other variance. there's usually a pretty great degree of dispersion. we know now it's even greater than normal. as everyone tries to grapple with the path forward from here. >> we have another great table showing strategist earnings estimates for 2022. the lowest come only looking for $205 eps next year. assuming no tax hike, is the earnings season that we seen in the u.s. so far prov

the person who simplifies that is that bank of america, where the yield forecast for the 10 year treasury note is between 1% and 2% depending on the outcome, just to give you a sense of the range of potential interactions with the market given how uncertain people are about the outlook. adding to that uncertainty come 8:30 we get u.s. july building permits after yesterday's disappointing data with respect to homebuilder sentiment weighing on some of these figures is the high house prices. the fact that lumber prices have come down but the input prices are much higher than they have been, including labor, which is in short supply. 8:30 former treasury secretary jack lewis joining bloomberg television. interesting to see what he says about infrastructure and how much he thinks the biden administration plans have been stymied by some of the lack of popularity around his recent moves. at an international level, the way to counter china's belt and road initiative's. how much are we looking at on the margins of the big three, the top of the federal reserve members looking to taper? i was struck

lisa: this bank of america note, we keep coming back because it highlights the lack of conviction init does seem like we are on the precipice of something, whether it is higher inflation or lower growth and whether these things can happen in tandem. we are also waiting for a federal reserve. why would anyone have conviction to make a certain trade? tom: we are waiting for the data. i look at the global litmus paper, the u.s. dollar, 93 on dxy. i am watching euro-dollar, 1.1715. i 1.6 handle would be a big deal. lisa: can we talk about the shift in psychology over the past year when it comes to the dollar? heading into 2021 it was believed the dollar would weaken as we get this global recovery. that has been turned on its head. i wonder if you could even say the consensus is for the dollar to stay where it is or strengthen, as it will be the first to tighten among developed markets. tom: that will be part of the discussion. lisa abramowicz and i are thrilled to discuss we will attend jackson hole. michael mckee announced the meeting will be most important, particular with a changed in

let's continue trading the banks here tim, what did you make of this move >> well, again, you know, talking about jpmorgan, that or bank of america i think have the best charts in there you're within 5% of all-time highs. yet again, coming out of second quarter numbers. the banks traded down the first three or four days as they do. >> sorry, we want to go back the ceo of microsoft, i believe. we're going to listen in. i feel like it's a zoom call like we decide to go there then they hop in a car and they drive away we'll continue looking for a lot of the other ceos that are going to come out of this summit tim, i think i interrupted you apologies. >> that is okay, mel we're a live news show in financial markets. this happens if you think about banks, what happened to them, they traded down because of they were overly punished net interest income and net interest margins that were down. we're talk about the sensitivity to the ten-year and why the banks are moving another thing that's almost ironic is they started to release credit reserves. they were almost punished for this increase in earnings when on the way down when they had

of fraud to luer their victims. we have heard from viewers saying they got calls and even text messages from people claiming to be there bank. david barnett thought it was a real bank of americaemployee and he said the best way to safeguard the money was to temporarily move it to another bank. the scammer guided him step-by-step on how to transfer his money to chase. >> as i was doing it there was a voice that said this seems very unorthodox to me. why would i transfer money into another account? but i suspended my disbelief and made the transfer. kumasi: half of his his ended up in the imposter account. fortunately within days they contacted him with a letter and granted him a full refund. julian: more about the path of a massive asteroid hurtling towards earth. the information will help researchers predict a path for the giant rock that is expected to come near the earth in the year 2135, like a great, great, great grandchildren problem. odds of impacting the earth are low, thankfully, but nasa will continue to monitor that orbit years to come. the pumpkin spice everything craze happens every fall and this year there is a new item that may cross the line between genius and

from bank of america, they say the following, using positioning for risk of a further rally with expectationsor interest in spending rather modest, it has the potential to drive rates higher. do you agree? gene: i think it is possible on the margin. this is much more the long game than the short-term. supply is difficult to map movement in treasury yields in real time. if we think about last year, supply was increasing but demand was exceptionally high for treasuries. if deficits are going to be significantly larger to fund long-term investment in large-scale structure, that should have the impact over a long period of time of raising the real interest rate, but i would put a big short position on the treasury market today based on what we are hearing right now. jonathan: up next, the auction block, debt values pushing high yields to the second busiest on record as the rush to procure funding continues. that conversation, up next. from new york, this is bloomberg. ♪ jonathan: time for the auction block where we kicked in's of in the united states with strong demand for tenure paper, three bas

put a mustache on peter brady and turn him into phil packer, you can put a bit of a shine on bank of america capital return program and their m&a business is humming along i like bank of america relative value over jpm >> thank you, sir. karen. final trade. >> yeah. well first of all, goes to shana. great pitch. cvs for a lot of the reasons that wba it's cheap, for one. if rates rise, i think this is a market multiple and booster shots i think will be a benefit to cvs >> dan >> yeah, qqq nasdaq 100 we were talking about how extended it is if you look out to october expiration, qqq, 380 at the money put would only cost you 2.2% that looks cheap to me buy and puts >> and guy >> all the bradys ate at mcdonald's you should, too, brian >> everybody, thank you. atoeitors. a special hour, next your shipping manager left to “find themself.” leaving you lost. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire protect your pet this flea and tick season with chewy. mafind everything from fleaon.

(upbeat orchestral music) (pleasant piano music) >>> welcome back bank of america placing its bets onesar's to buy from neutral you cee cee sars up. expecting the company's digital market share to rise b of a downgrading wynn resorts because of the heavy reliance on ma macau. you can read more on cnbc.com/pro draftkings buying golden nugget online gaming for $1.5 billion this gives them access to golden nugget's customers tillman fertitta and jason robins of draftkings. >>> donor advising funds have been a good way to give money to charities we'll speak to former hedge fund manager who is blowing the whistle. you don't want to miss that. this may look like a regular movie night. but if you're a kid with diabetes, it's more. it's the simple act of enjoying time with friends, knowing you understand your glucose levels. ♪♪ if your money is working toward the same goals, why keep it in different places? sofi is a one-stop shop for your finances designed to work better together. spend with sofi and get cash back rewards that automatically go toward your goals. like investing in stocks, etf

the bank of america six week of inflows into technology. everybody is once again feeling pretty good about themselves and where we could go in the stock market, that nothing seemingly is going to disrupt this, delta or otherwise >> yeah, i think that's probably a little bit too optimistic from my perspective i do think that the delta variant and subsequent variants, because there will be some, certainly can continue to weigh on the market over the course of the next couple months what's important though, is they're not likely to weigh invitely on economic activity. if you think about what's driving this rotation back into stocks and you're thinking about any sort of potential disruption, we know seasonally august and september aren't typically great markets -- great months for the market. and so if you come out of jackson hole and feel like the taper is a bit more aggressive, we could see a bit of a disruption here in this rally. but if you look at it from where we were a few months ago, scott, all we talked about was this goldilocks scenar

to bank of america. and the amount of almost $20,000. >> the crooks attempted transfers to other accounts to including $25,870 to the crooks online trading account with robin hood. by then, larry was standing in a chase bank branch and stopped it. >> so if you have not caught this when needed. they would have taken everything. you have. yeah. chase launched an investigation but more than 7 weeks later, larry hasn't seen a dime and no one from the bank is called him back in weeks and feeling helpless. he knew he better call behnken and chase spokeswoman told me she would has collate this case. an executive team member will contact him should take a priority and you know. >> return the money back as soon as possible. and continue their investigation to the extent to build a track where this came from, how it got started but not leave the individual like myself. you know, without this amount of money, this affecting your livelihood. >> the spokeswoman for chase bank tells me she will update me when she has m

we have been talking about that bank of america call. 1% range of where we could go. you also have jp morgan and goldman downgrading their year and forecast for the treasury yield earlier this month. if you look across the street, strategist don't know where to go. we debate the same sort of things, where the variant will take us, what the fed will do. that is clouding the outlook for everyone. lisa: are you seeing a lack of positioning? there was a short position heading into the year. it has gotten somewhat reduced. there are still people who expect yields to go up. >> it's been interesting. there was a jp morgan client survey last week that showed client positioning was the most neutral since february. like you said, there were so many shorts coming in this year, got burned with that 50 basis point drop. where they stand now, it is hard to tell. i like to look at the tlt etf. short interest on it right now is very low, at about 5%. it was as high as 20% in february. not the case now. it feels like people are hesitant to go back to shorting bonds because it has been

we will have more analysis when it comes to the bank of korea as well in the next hour. bank of americaities economist will be joining us right about the time that we get that decision. let's take a look at kyoto, the japanese technology storage provider. there's been talk that they have been in talks with western digital to combine in a potential $20 billion deal. we are hearing from them now that they are preparing for an ipo at the right time according to the spokesperson. they will not comment. there is speculation according to comments being given by phone. we have been hearing about this deal to unite them with western digital which could be worth more than $20 billion. the person familiar talking about that saying it could be reached by mid-september if these talks were successful. it appears to still be considering that ipo at the right time according to the spokesperson. let's get to the global supply chain crunch. it was meant to be temporary and now it looks to have a lasting impact into the next year as the surging delta variant upends shipping in asia. enda curran joins us

this caused bank of america to lower the third quarter gdp to 4 1/2%.hey were 7% going into the weekend. i suspect more firms on the street will bring their numbers down. even fed hawks are starting to talk about taper policy a slowdown next year could take tapering, end the whole thing, make it a moot point. joining me to discuss all of this kevin moss is with us. kaltbaum capital management, gary kaltbaum, along with money map press, one of the superstars over there, shah gilani. gary, let me start with you. you're a huge growth guy. you started to nibble a little financials. would you let those ride considering it is a tough few weeks for them? or would you continue to add to them? >> financials have been fine. my favorite names, goldman, morgan stanley, wells fargo, bank of new york, normally pullbacks over the last week. i think they're going higher. i do believe rates are eventually going higher which will help them out. so i have no problem with them but look, the real story is growth and now you have the nasdaq, the nasdaq 100 breaking out to ne

reiterated a buy today at bank of america sorry, doc i should finish. target goes to 1.45. >> it continues to work, scott most folks, when they're going ton a google search for best prices, will find themselves dropping frequently over to best buy. also over to amazon, of course and not surprising, best buy's digital platform has really been growing like a weed during the pandemic i don't think that slows down at all and even though the stores have reopened, many of which were shut because of looting and things last summer as well as the pandemic, are now contributing greater and greater revenue to the bottom line and i think the stock continues to be a hold here. >> macy's rip in today kohl's liz young, what's the retail takeaway from a week in which you've gotten a lot of big and widely held names? >> i think the retail take away is that there still continues to be opportunity there look, sentiment is a fickle thing and it really depends on the day we take those surveys. so although some of those sentiment readings have been tough, i think they turn a

stocks in here like bank of america look like we broke out we've come back. check support starting to move higher again it's the latter, frank it's going to be about ten year bond yields moving up. that is a big component inside the russell 2000 index >> craig johnson, thank you for being here >>> when we come back, the rising threat of extreme weather forcing home owners to take matters into their own hands when it comes to keeping the power flowing. the all energy moves they're making to keep the lights on plus, the biden administration racing to get hundreds of americans in afghanistan out with just days until with the draul deadline we have the latest from washington >>> later, duel earnings on tap from dollar general and dollar tree the ones that punch they're facing from the supply chain and inflation are very busy hour still ahead when "worldwide exchange" returns. i'm dad's greatest sandcastle - and greatest memory! but even i'm not as memorable as eating turkey hill chocolate peanut butter cup ice cream with real cocoa. well, that's the way the sandc

representing bank of america. they were great. housing developers, representing the partnership and they are amazing and are the bond council on behalf. and last but not least, the officers who are unsung. i want to thank over public title for everyone in their living rooms and bedrooms. it's pretty amazing. this work requires so much dedication. there are a lot of people doing this especially in the nonprofit world to go out and get jobs. but people do it because they're down with the cause. they want to get people housed and are just amazing, remarkable partners and i really want to just honor them for the work they do every day for all the work they give. thanks a lot. >> charmine curtis is an amazing developer and an amazing person. thanks, charmine. please, join me is welcoming lori dungone from swinderton. >> good morning. my name is lori dunngyen i am the vice president manager for swinerton builders here in the bay area. i will tell you that today is a special day because i don't have my steel toe boots on today which is v

and coming up here if you're a bank of america customer.re are some changes you need to know about. if you plan to write checks. >> from your savings accounts. and a new app that helps schools with contact tracing for covid will learn how this works. also, what would you do for a better night's sleep. experts say the answer is pretty simple. so will tell you the new track to catch them better. z's still take a nap right now. that will be right back. >> for your health. this afternoon due a hard time falling asleep because your mind is just racing. i say like my mind just goes in the circle. sometimes, but stretching and even regular yoga practice can help people with insomnia. this is according to the sleep foundation and sleep. experts say an evening stretch along with deep breathing will loosen tight muscles calm the nervous system and bring your whole body into a more restful state before bed. like that idea for your money as well. bank of america customers will no longer be able to write checks on their savings accounts. this change wil

goldman, bank of america, tom lee are calling for 4700 on the s&p by the end of the year because we are mean rates are going up so you have this rally in the stock. this is where it ends. stuart: are you in florida? >> i'm in boca. stuart: report to me business in florida when you have a spike in cases. with the feeling in business in florida? >> as if where i am i am between palm beach and miami, that part of the east coast of florida. if i walk outside or go across the street to go to lunch you can't get a seat, people are out and about, life is normal. if you didn't tell me there's this pandemic that is raging just by looking out the window are living as part of florida i would not necessarily understand another than what i read in the paper. i will say there's been a spike. i'm hearing more people talk about the spike hitting this part of florida. i haven't seen it yet but it doesn't mean it is not here. i think people should get vaccinated but people will do what they want to do. stuart: a good to live in a republican state, isn't it? thank you very much, have a great weekend, see

contra el coronavirus o de lo contrario perderÍan empleos, por ejemplarizan tracciÓn, delta, bank of american este requerimiento peros se preguntan si es legal pedirlo le a un empleado que se vacune contra el covid-19. >>> es legal es algo que vamos a ver con mÁs frecd, ahora que el gobierno federal finalizÓ la aprobaciÓn de la vacuna pfizer. >>> el abogado de derechos civiles dice que con la aprobaciÓn total de la vacuna uefa cero por la fda es mÁs legal que nunca exigir esto y no no solamente empresas que el pentÁgono exigirÁ la vacuna a todos los militares y civiles, habrÁ algunas excepciÓnes que incluyen por razones de salud o religiosas. pero vamos a pasar a saber de las temperaturas en la zona. ¿quÉ tal?. >>> excelente tarde, de seguro, notÓ frÍo esta maÑana, tambiÉn nubosidad en la zona, y precisamente esta nubosidad es producto de la capa marina, esta toma en vivo, y vea la nubosidad en el Área, las temperaturas muy agradables a travÉs de la regiÓn, temperaturas en san francisco de 66°, vientos de ocho millas por hora, y sopla desde el pacÍfico entonces, asÍ que trae humedad y fresco

morgan chase, bank of america, travelers, p g and girls who code the topic of the day with the importance of maintaining cybersecurity in the face of increasing cyber attack. with reports noting that the goal of the white house was to address the root causes of the attacks to look at repairing critical infrastructure aimed at stopping future attacks and to work toward filling the more than half a 1000000 cybersecurity job openings in the us. the time now for a quick break, only come back, vice president harris has some harsh words for china during her time in vietnam, but beijing was quick to fire back questioning washington's credibility. well, discuss it all next. and as we go to break your, the numbers at the close. 1 the ah ah, the news driven by shaped by those in me dares thing. we dare to ask what we got to do is identify the threats that we have crazy foundation. let it be an arms race is on, often very dramatic development. only personally, i'm going to i don't see how that strategy will be successful, very critical time time to sit down and talk americans love buying homes. ah,

morgan chase, bank of america, travelers, p g and girls who code the topic of the day with the importance of maintaining cybersecurity in the face of increasing cyber attack. with reports noting that the goal of the white house was to address the root causes of the attacks to look at repairing critical infrastructure aimed at stopping future attacks and to work toward filling me more than half a 1000000 cybersecurity job openings in the us time. now for a quick break, only come back, vice president harris has some harsh words for china during her time in vietnam, but basing was quick to fire back questioning washington's credibility. we'll discuss it all next. and as we go to break your, the numbers at the close, the ah, ah ah. well america, crazy frat party in afghanistan is over 20 years, leaving behind quite a man the families that mark i took marking your function, you would like to get some more. yeah, where it shows me how do i manage john got that. i've got that limit and i wanted them to go back to the left me about run the less about i get up there for us. let me use the welcome

morgan chase, bank of america, travelers, p g and girls who code the topic of the day with the importance of maintaining cybersecurity in the face of increasing cyber attack. with reports noting that the goal of the white house was to address the root causes of the attacks to look at repairing critical infrastructure aimed at stopping future attacks and to work toward filling the more than half a 1000000 cybersecurity job openings in the us. the time now for a quick break, only come back vice president harris has some harsh words for china during her time in vietnam, but beijing was quick to fire back questioning washington credibility, we'll discuss it all next. and as we go to break sure the numbers that the close. 1 the me, i americans love fine. ah, this was fundamental part of how our political leadership and our country at large, understood the bargain. you get a home and then you will rebel, right, as the things you don't revolt if you have a stake in the system. be really interesting to dial back and think about the longer deeper history of what housings meant in the united states

bank of america catching up to jp morgan and asia pacific investment banking. ess rebuild, now sitting even, growing revenue to $700 million. the division is 15% of bank of america's overall business in asia, doubling from three years ago. jp morgan plans to convert mutual plans into actively managed etf's next year, as investor demand increases. the bank's clients actively adopt etf. millions of dollars are flowing into the back of etf market every week, driven by the success of other products. coming up, lenovo doubling profit unsurprising sales, widening in business, it's never just another day. it's the big sale, or the big presentation. the day where everything goes right. or the one where nothing does. with comcast business you get the network that can deliver gig speeds to the most businesses and advanced cybersecurity to protect every device on it— all backed by a dedicated team, 24/7. every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities. haidi: -- >> now that the recovery is well underway, tra

stocks, but bank of america warns that the rally may not last much longer. s in the chart of the day. what will put a dampener on things? >> what stevens that is looking at is margin debt. it went on for 15 months in a row, starting in april of last year when they got going, but in july it fell and that has step meyer concerned. they tend not to be all that good. you see either a high or a real flattening out of performance of shares. that is a concern. it comes when others are concerned that the s&p 500 is not telling the whole story for stocks. we have seen indicators of companies who went public. investors and individuals have been getting more pessimistic. you see more individual investors. alix: thank you. we appreciate it. european close is about half an hour away. the head of equity will be joining us, next. this is bloomberg. so many people are overweight now, and asking themselves, "why can't i lose weight?" for most, the reason is insulin resistance, and they don't even know they have it. conventional starvation diets don't address insulin resistanc

bank of america head of emerging emea energy research.wildfires have threatened villages, forcing further evacuations. the blazes began almost a week ago due to a heat wave, cutting across a popular summer destination. destroying homes and businesses. thousands of residents and tourists have been forced to flee. a top to new york governor andrew cuomo resigned, as her boss contends possible criminal charges over alleged sexual harassment. one of his accusers earlier spoke out publicly for the first time. she said what cuomo did to her was a crime and he should be held a cannibal. there are multiple claims of sexual misconduct. virgin atlantic is reportedly considering a public offering in london. executives have been holding discussions with bankers and potential investors and could announce the ipo plans within the coming month. that decision would mark the first public opportunity to buy shares in richard branson's flagship carrier. global news, 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists

. >> you're already seeing that, bank of america tracking off the weak are retail sales. so they're coming down, but constituent pretty hot number. >>> josh lipton is here with a look at the biggest movers of the nasdaq. >> let's sayers with some of the big tech names like amazon, falling in today's trade, down about 15% from the 52-week high, now negative alphabet also in the read. keep in mind, of course, the run on this one talking about 55%. facebook feeling some pressure, though, as well as alphabet. nvidia, applied materials, are all lower. some say expectations are elevated there, with that stock up about 50% this year, so that far outperforms the smh, the etf that tracks the chips. chinese tech names buy baidu, also trading lower back to you all. >>> josh lipton, thanks so much for that let's discuss it all with scott wren of wells fargo. thanks for joining us. what's your initial take on the pullback >> i think it's all about growth bob hit the nail on the head whether you look at china, homebuilder sentiment, retail sales, even things like a tiny country like new