what is the distinction between bank of america and j.p. morgan? difference between the banks? lisa: bank of america is very heavily consumer focus. consumer loans only grew by 4% so that exposure to the consumer is a very big deal for bank of america when j.p. morgan has a much bigger investment bank and that asset and wealth manager. you see the market really rewarding the will is misses as opposed to consumer businesses, rewarding the banks that are able to capitalize on the wealthy client base which are not really seeing is the rest of the american consumer borrowing when rates are rising. and it's sluggish when you look at it compared to the commercial segment here. jonathan: you're in a position to wrap up earnings season for us. fold in what's happened with bank of america. >> this is one point that tom is looking for all earnings season. bank of america 52% is way below what analysts expected. tom: what does that mean? >> the costs are not rising too quickly relative to the revenue that anchor of bringing in. the net income was well above e

the indictment names for bank of america contractor madison part of little rock, customer service agentving edd cardholders. it she used her position and access to bank of america's systems without authorization, to reissue debit cards, remove flock -- fraud blocks and add credits. the u.s. attorney's office said the other defendants used debit cards to withdraw $2.7 million. one defendant was out on bond the facing of the charge when authorities say he joined the conspiracy. the u.s. attorney's office said bank of america discovered the bridge last year and fired the contract worker. >> i'm not surprised where nesting evidence of inside jobs. reporter: they pushed for investigation of potential insider fraud. >> that is going to be an important lesson, i hope the edd and bank of america learn so they are not vulnerable going forward. dan: new developments tonight with the a's effort to build a new ballpark at howard terminal. there's a third lawsuit against the project. the capital court or powers authority has also sued over the environmental impact report. just like the lawsuit by un

the indictment names for bank of america contractor madison part of little rock, customer service agentving edd cardholders. it she used her position and access to bank of america's systems without authorization, to reissue debit cards, remove flock -- fraud blocks and add credits. the u.s. attorney's office said the other defendants used debit cards to withdraw $2.7 million. one defendant was out on bond the facing of the charge when authorities say he joined the conspiracy. the u.s. attorney's office said bank of america discovered the bridge last year and fired the contract worker. >> i'm not surprised where nesting evidence of inside jobs. reporter: they pushed for investigation of potential insider fraud. >> that is going to be an important lesson, i hope the edd and bank of america learn so they are not vulnerable going forward. dan: new developments tonight with the a's effort to build a new ballpark at howard terminal. there's a third lawsuit against the project. the capital court or powers authority has also sued over the environmental impact report. just like the lawsuit by un

bank of america of 3.2% after positive earnings. re seeing from bank of america is driven by long growth. in some ways that is a good thing because if you have higher loan growth that means more consumer strength, more strength from the american economy. the question of how long it lasts -- let's it some other movers. i want to kick it off with twitter. a 5% is the ongoing bid between elon musk and twitter. how the share sales happen when you're potentially trying to take the company private? we will keep you updated on all of the developments. eq is another one i want to keep an eye on. as natural gas prices getting higher. eqt is the largest natural gas producer in the u.s.. didi global taking a hit as the delisting conversations go on. kailey: here's what we are watching the next 24 hours. st. louis fed president jim bullard will be talking about the economic outlook and event hosted by the council of foreign relations. johnson & johnson and lockheed martin before the valve. -- before the bell. netflix after the bell. central bank

coming up, bank of america, q1 earnings. down the numbers here on bloomberg. ♪ dani: welcome back to bloomberg daybreak europe. just want to bring back some lines of the bank of korea governor nominee is speaking saying they should continue to hike rates unless there is a problem for growth, reflect a lot of the central bank sentiment we've heard, inflation is enemy number one, keep going until growth is hurt. let's turn to the banking story, bank of america reported a better first quarter. that wraps up the earnings season for big banks in the u.s.. joining us now is bloomberg's charlie wells, to give us the latest. bank of america, a big-name when it comes to the consumer, sort of a bellwether, how did this earnings go? charlie: there were expecting earnings of $.74 per share. bank of america managed $.80 per share. it was the only bank of america to post the kind of growth, profit was down 12%. somewhat underwhelming performance across the board in the banking sector. manus: what are the analysts making of this in terms o

dr drinks and snow. >> thank youfully it is not arod here >>> bank of america the last of the big banksre to tell you more because she broke down the numbers, yes, on the heels of earnings, you can see bank of america firmly in the green there, but they're firmly lower year to date it was a quarter of beats with relative expectations. but the culprit investment banking fees took a major slump in the quarter with underwriting drying up essentially. sales and training held up better reporting stronger than expectedti activity. some of the less value tide businesses held up as well as was to be expected they all saw deposit growth and loan growth and they should benefit from rising interest rating in the future they warned about the increased race of stagnation and mixed signals. the ceo said it can only be described as complexion and uncertain and jp morgan said of jamie dimon there is almost no chance you won't have volatile markets. contrast that with brian m moynihan saying the strength of the consumer makes it different. >> does this make you want to own the banks or avoid them? >> we

chris: alex, bank of america wants to achieve net zero emissions by 2050. what are those targets, and how will they help you meet those goals? alex: to start with a bit of a background, one, we committed to achieving net zero, as you say come across the whole of our value chain from our operations, supply chain, but also financing opportunities for 2050. our second goal is submitting to mobilize $1 trillion in capital by 2030 to accelerate the transition. when you think about that in a zero before 2050 goal, that is 28 years in terms of length, so it is important that shorter-term target, and we have done that with a range of 2030 targets. prior to our most recent targets, we have already set ambitious supply chain goals, but as a financial institution, our greatest goal is through financing appliance. it is the capital, the advice, the other support we provide our clients in their net zero journey, so a big focus of the past few years has been on how we measure, disclose, and those associated with our finance emissions of clients. and, frankly, there has no

the indictment names former bank of america contractor madison clark of little rock a customer serviced card holders. it says clark used her position and quote access the bank of america systems without authorization to reissue debit cards remove fraud blocks. and add credits to unemployment accounts the us attorney's office said the other defendants then used the debit cards or withdraw 2.7 million dollars one defendant was out on bond facing a felony murder charge when authority say he joined the conspiracy the us attorney's office said b of a discovered the breach last year and fired the contract worker. i am not surprised that we're now seeing evidence of some inside jobs. assemblyman patterson has pushed for invest. negation of potential insider fraud that's going to be a big important lesson. i hope the edd and bank of america learn so that they're not vulnerable going forward. the 2.7 million dollar loss. it's just a tiny tiny fraction of california's unemployment fraud the edd estimates it gave 19 billion dollars to fraudsters and phony unemployment claims bank of america says

we heard from bank of america this morning. reduction of russia exposure from 90% at its peak years ago. many banks, bank of america being one of them, have backed away and a big way over the past decade. tom: i had a conversation with ken lewis in singapore about this. bank of america was the least reticent to say " we have to be number two and belgium. let's go!" they were the most reticent to do that. maybe this russia markdown is paying off. i do not buy it. no. i do not by the gloom. i think we will stay globalized. the conversation you missed on sabbatical, they nudged that conversation with their immense abilities towards a new globalization. jonathan: i had no idea they were married. lisa: they are adorable. tom: you have a choice -- watch the view or us! jonathan: i like the view at times, tom. tom: i like will be goldberg. -- i like whoopi goldberg. the highlight of the week, we do not have the photograph for it, wearing the jersey -- it is out there in the zeitgeist. she emailed me the photo. jonathan: what does she

michael: bank of america, bank of america, bank of america. ot believe that all of these interest rate hikes that benefit bank of america more than any other bank that this stock is down so much year to date. tom: how is he doing on digital? jamie dimon is writing 44 pages on the annual report. jamie dimon is giving us one paragraph that seven people have sanitized. how is he doing on digital? michael: brian moynihan does not talk the talk, but he walks the walk. i would rather that over the alternative. digital banking, bank of america is one of the digital banking leaders. you can talk about neo-banks, talk about fintech, talk about big tech come up up -- dig tech, but bank of america is building deeper digital relationships in addition to acquiring new customers. jonathan: if you were wrong about moynahan back in the day, why do you think you are not wrong about citi now and won't be in 10 years? michael: i feel good about jane fraser redirecting citi and putting them on a better long-term path. i just don't feel good enough that they are lo

estimates, which caused the stock to slump on the other hand, this isn't so much the case for bank of americae from consumer. however, for some of the more wall street oriented bank institutional investors that transact with these banks did remain active in the quarter at least more so than analysts expected them to that was especially true within fig, fixed income currencies and commodities, and equities at places like morgan stanley >> it seems like overall, now that we had most of the big banks reporting, the message is one of uncertainty, right, when it comes to the outlook on the economy and what that's going to do to their business >> that's absolutely right i think some of the big moves today are largely in response to what you're seeing with treasuries today and the move higher there that's been a tailwind for bank of america, which did produce some pretty strong results today relative to some of their peers. but they are also helped by some macro factors as well. all of the big banks are in the red for the year, and that is largely due to the uncertainty that you're pointing to, this

. >> thank you to our sponsor, bank of america for making this conversation possible. joining us from bank of america, alex, happy earth day, welcome to actio's. >> to you as well. >> alex, bank of america has set emission reduction targets to achieve net 0 emissions by 2,050. remember those targets, and how you help them achieve that? >> >> two big commitments. and our second goal in support of this goal is committing to mobilize, if you think of net 0 before 2050, and we've done that with a 2030 target. we set a suite of ambitious operational supply chain goals but as a financial institution our greatest ability is through our financing, the capital, the other support we provide our clients in their net 0 journeys. in each part of our focus of the last few years is how we measure, disclose and alternately reduce emissions over financing with finance submission of science and there hasn't been a guidebook for this. there are number of collaborations focused on standards, guidelines and other financial institutions, in the interest of time i will enumerate all of that,

>> we are not really going after bank of america particularly. rations that need to be alerted to the fact that they have a lot of constituencies. all were asking for is for the shareholders to vote and asked the executives to a civil rights audit if you will of the policies and practices that make sure nobody's rights are being tramped on. we just want a quality across-the-board. they see a focus on building profits this won't be an issue. corporations, just a hat they have a job thousands of their ceos or board members does not give them the right to speak on my behalf as a shareholder or a customer. that is my responsibility. we have lunch with milton freedman back and 96 and he said young man, understand your responsibility as a grow prophet not to take their profit and spend it on political campaigns or other matters, but is their choice let them spend their money their way pray quickly what has the response been with any of these big companies? >> i have had some privately i'm not going to disclose private conversations. the reality is disne

bank of america one of the last of the major u.s. eport this quarter, what are analysts saying about the sector overall? charlie: there was below expectations going into this earnings week. the number one issue was the russian invasion of ukraine and that created so much uncertainty from deal flow, about volatility. it seems like some things were able to capture that volatility in a positive way. but low activity stations -- expectations that seem to have been exceeded. analysts were expecting earnings of $.74 a share, but bank of america got to $.80. what was striking was the shift toward consumer lending, and a hope for more net interest income. they are projecting a 20% increase in this quarter. bank of america has exposure to a lot of consumer deposits which is not the case with a lot of other large banks. other banks posting more revenue than expected from trading. will that continue or not is the big question going into this new quarter. francine: what can we expect from u.s. banks more broadly in the second quarter? charlie: th

jonathan: not my position to advocate for bank of america, but i will quote them. forecast of inflation or peeking and falling steadily into 2023. not exactly vanishing into thin air. we believe this will reduce the panic level around inflation and cause panic levels to decline. that is the story, lisa. lisa: on one side of the market, to use your words, you have people who are saying the fed is not being aggressive a love -- enough. and then others are saying it will get above 2%, and terms of the fed funds rates. jonathan: that's what makes this job interesting sometimes, right? lisa: every day. jonathan: down to 2.86 86. in the equity market we are down .1%. and netflix is getting hammered. it is down hard in the premarket. we are lower by about 25, 20 six, and 27%. this is bloomberg. >> keeping you up-to-date with news around the world with first word. we have learned about eight small but growing number of insiders who are quietly questioning vladimir putin's decision to go to war. they believe it was a catastrophic mistake that will leave the country setback f

bank of america and ibm and johnson & johnson and tesla. the ten-year yield is rising to the highest level in three years. 2.86%. check this out maybe your market stat of the day or week. the major stock averages and yields or government bonds are down this year believe it or not, that combination. stocks and government bonds down has only ever happened one time before that was in 1994 which was also a hyper aggressive year for the fed to hike rates. an unusual and historic and not in a good way start to the year for the stock and bond markets that stat courtesy of evercore isi. as for oil, will it move higher? it is fractionally lower right now. russian rockets hitting lviv this morning lviv is seen as a safe haven the home of much of the western media. nbc news people coming to us every day from lviv. wishing them all the best. more on that coming up later on here on cnbc >>> let's go now around the world. a lower overnight session in asia new data for the chinese government the china economy grew 4.5% in the first quarter. most of that gr

the volatility with bank of america did pay off in the latest quarter results come over $4.5 billion trading related revenue including a record number coming out of the equities division. that was a bright spot. we are watching the consumer a story, brian moynihan indicating there are people getting out on planes and going to restaurants so he feels good about that story. ritika: one of the big cards of that conversation is what are they telling us about the recession call? they are posting earnings and does that mean the markets and fears and sentiment about recession, are they leading us in a direction. let's get some insight on this from sonali basak. banks seem to be on a positive tone and the rest of the market seems recession focused? sonali: most of this was because of russia. you are not seeing them prepare for a lot more in terms of worsening credit quality, what of the banks saying? jp morgan said the probability make -- went from low to slightly less low. if we had a hard landing when it came to the fed, the consumer this time around has a full balance sheet and less by me

for jp morgan, bank of america, russia was not in one of their top 20 market. oup was the most exposed of the large american banks. last month, they said they had about $10 billion in assets tied to russia, compared to the $2.3 trillion they have. i think what is important is to focus on the secondary effects. we know about the primary effects. u.s. banks want to get out, they know they need to get out. what about a potential recession, what do fed moves mean for these banks? that is what we should be looking at. manus: good to have you with us, charlie. we are about to have a conversation with an analyst on the banks. part of that will be about the interest rate cycle, what is priced in. that comprises the net income narrative for 2022 and beyond. how significant is the speed of these hikes to the banks' narrative? >> i think this is pretty important. we will hear a goldilocks theme. if the fed moves to slow, these banks don't get that net boost they have been talking about for months now. but if they move too fast, we have the risk of triggering a recession. r

and jpmorgan still sits on top part of my call here on bank of america that would be my chart too becauseic bank sentitivit. i think you will see banking and capital markets being very resilient in q1. it is difficult to guide q2. but it's interesting remember their balance sheets are as good as ever and are paying divs and want to pay more i think you can ride through this >> all right up next final trades exploring the heart of historic europe with viking, you'll get closer to iconic landmarks, to local life and legendary treasures as you sail onboard our patented, award-winning viking longships. you'll enjoy many extras, including wi-fi, cultural enrichment from ship to shore and engaging excursions. viking - voted number one river cruise line by condé nast readers. learn more at viking.com. >>> time for the final trade let's go around the horn, steve grasso >> so for the same reason why tilray eventually jumped there's going to be that legislative tailwind to it, i think cronos is the next to jump. all these stocks have been decimated and are dup for a pop, but a continued pop. cronos

it is part of the bank of america upgrade. sure prices are rising and that means more cost for kroger but, they are able to pass on the cost to the consumer and given the amount of money in the system now, in the pockets or balance sheets of a lot of american households, they are actually able to eat some of those costs. you can see some adjusted eps for kroger continuing to rise. it is forecast to continue rising until 2024. you can see bank of america saying, yes, there are higher cost for kroger but given the strong consumer this is not necessarily a deal breaker. romaine: yes they make money in the short term but there is -- is there some threshold analysts are looking at where consumers do not spend more? kriti: that is where wages come in. wages are increasing so you have a wealth affected their helping some consumption when it comes to walmart, costco. at the end of the day their bottom line is benefiting. when it comes to wages, how quickly can wages rise? how quickly are real wages rising to keep up with prices? right

biggest risk is not putin's war in ukraine that is ranked fourth now by fund managers surveyed by bank of america biggest risk with overly hawkish central banks a close second this could mean more tough times for stocks look at this bank of america chart. goes back to 2008. when investors get negative on global growth, they have a lower net allocation your a fund manager. you think things get worse around the world you own fewer assets exposed to the global economy bank of america notes if we are going into recession camp, there are two trades to consider go long bonds, but short commodities. or two, long on utilities and you shortbanks and big tech. always be careful if you are betting against something. if you are short, your losses are unlimited. things can go up forever just because the survey lines up with the with the twitter poll, it doesn't mean it will happen. they can turn dovish it is an election year anything is possible the gardening saying goes. april showers bring may flowers. let's see he if it is true for stocks random, but interesting. >>> on deck, grace capital's cate faddis wi

yesterday morning we heard a very different story from bank of america, which reported a terrific topter, management sounded incredibly confident about the state of the american consumer that's why bank of america jumped 3.4% yesterday, plus tacking on another 2%. but the stock is down 21% from february highs sales are 12 times earnings. i think it's a steal i think it's ridiculous. let's check in with brian moynihan, the chairman and ceo of bank of america to get a better read on the quarter and consumer america mr. moynihan, welcome back to "mad money." >> good to see you again. >> my favorite line was when you can see the organic growth engine that our company is delivering once again, no banks are organic, except for yours. tell us why. >> well we have a great team and a great franchise and great customers who give us more business and tell their friends about us year-over-year you saw us grow our deposits more than 240 billion. you saw our loans grow 10% we had a downdraft in investment banking fees but wealth management fees up nice. we grew revenue. expenses were down that crea

maria: elon musk chose bank of america as one of the banks to do the deal.t you speculate on that. maria: are you surprised at the excitement around this deal? >> it's been fascinating to watch all you guys in the media be fascinated by this i'd say. maria: brian, it was great to have you. >> good to be here. maria: brian moynihan, the chairman and ceo of bank of america. coming up, you will never believe what one teacher told her students about elon musk's buyout. the hot topic buzz is next. stay with us. ♪ oh, girls just want to have -- ♪ girls, all they want, want to have fun, girl. ♪ want to have -- exploring the heart of historic europe with viking, you'll get closer to iconic landmarks, to local life and legendary treasures as you sail onboard our patented, award-winning viking longships. you'll enjoy many extras, including wi-fi, cultural enrichment from ship to shore and engaging excursions. viking - voted number one river cruise line by condé nast readers. learn more at viking.com. . maria: welcome back, a teacher telling all five of his high school

reggie: a bank of america contractor was on the inside. michael finney has the inside. >> you guys took $16,000 from the account. where did it go? >> they watched as hackers drained their edd credit cards. bank of america frozes their account along with thousands of others. >> we believe the majority of frozen accounts were frauds. >> that was an executive explaining to state lawmakers last year why the bank froze all those accounts, saying he believed they were scammers trying to claim extra money. >> i am the victim and i am being treated like the criminal. >> now the latest attempt to unravel california's fraud fiasco has landed in the lap of a federal grand jury. >> what we will find out as the case unfolds is what went on, how did they do it, how did they get away with it. >> the grand jury in little rock has indicted 10 residents on charges of cashing in california edd credit cards. on the indictment, madison clark of littlerock. park used her position and access to the bank of america systems without authorization to reissue debit ca

that could hurt a number of stocks bank of america has a list of those you want to avoid. after ben mckenzie is taking on a new role you may remember him from "the o.c." and "gotham" now he says the market is full of reckless, and why he thinking this is a bubble that's about to burst. >> and we'll ask him what eamon was like in high school. [ laughter ] >>> the dew is up 241, so an incredible divergence today, but it is keeping in theme we hit 273 earlier. steve liesman, where did they go >> what it means to be a dove on this very hawkish meeting, and in context, it just isn't that dovish clairol evans saying, i'm optimistic i can get to neutral. well, why is that important here that's where the market is priced you can see there, seeing a 3.1% funds rate by june evan says he thinking surging inflation now up there 8% will decline. he also cautioned, quote now, not to be outdone, his comments were offset by jim bullard, who said he wants to get the rate up to 3 or 3.25 by year end, which is on the hawkish side so the debate is going to 2.4 by yearened oar 3% or higher, wh

bank of america earnings crossing moments ago, bank of america reporting a double beat on both earningsyou're watching for this week. >> well, good morning, dagen. what i'm watching for this week basically is more news, similar of to the bank of america where maybe we end up with better than expected results. we started the quarter expecting to see about a 4.4% increase in the s&p 500. now that has edged higher to 5%. we've seen revenue growth expected to be up a little more than 10%, margins have remained flat at 12.9% for the s&p 500 and next year's earnings have also ticked up to about 7.8%. so a little bit of upside optimism for earnings and i'm looking for healthcare in particular and pharmaceuticals specifically to show a very strong earnings period. dagen: biggest week -- biggest weakness in terms of areas, in terms of sectors that you're watching for and is that factored into the stock, the prices of those stocks, sam? so biggest area of weakness in earnings. >> sure. well, i think the weakness is likely to come in transportation area, i think jb hunt today reporting will probab

shery: the bank of america ceo there. s bring in our next guest who says there is a very low probability of a soft landing for the fed. with us now is frances stacy. good to have you with us. right now we are seeing spot contracts pricing in a 50 basis point rate hike in each of the next two fed meetings. how much of your concern has to do with the pace of the tightening right now? frances: what i find very interesting is when i look back to the previous iteration of tightening, they stopped doing the asset purchases in october of 2014 and they did not start lift off until december of 2015. and so all of these things have lag effects and they gave almost a year for the system to absorb the reduction in asset purchases. that is actually a move in tightening because money is being drained out of the system with debt service pot -- service constantly. to take the buffer of the constant asset purchases away is like taking away an income. so there is a recalibration that occurs, and we are really not seeing that recalibration u

they're going to release them back into the earnings bank of america sort of winding down the big bankattle is starting to pick up some steam, take on some heat. of course, elon musk offering to thank ta company private t twitter's board of directs is taking over in case somebody takes over a certain percentage of the company twitter shares up 3.5% as things pick up. then one other place to watching is what 's happening with ten year note yields at 2.85% we're talking about the highest levels going to all the way back to december of 2018 so more than three years now at this point in terms of highs for yields that move higher, very sharp, of course, just the last couple of months big bank earnings, twitter, joe, i'll send things back over to you. >> yeah. crypto, they don't like higher interest rates either, i don't think. >> are they tied together? >> oh, yeah. the way this is moving, what happens when we get a three-handle that's not very far away we haven't heard three in front of a ten-year in a long time. >> not just that what i was looking at, i watch the papers now i used to watc

look at bank of america. better than expected profits revenues slightly better than expected the overall tone of the banking sector affected for bank of america up 4%. jpmorganchase, wells fargo among the traditional banks. and morgan stanley and the investment banking side to give you an example of what's happening. interest rates are a big part of that story benchmark ten-year treasury note yield, 2.86% they got as high as 2.88% earlier today. and the reason why that's a big focus here, the reason i'm putting a four-year chart up is you have to go all the way up to december of 2018 to see ten-year note yields at this level, and kelly, by the way, because we made a big deal of it, we talked a lot about the inversion. right? of the yield curve, the ten-year and two-year note yield going negative this was the first week of april. about a month later, right, if you look at that, where we stood things at that point, we are now back to where we were in march in terms of the ten-year two-year spread. you can see a

this from bank of america. downgrade transports on waiting demand and price dives given deteriorating demand outlooks. we downgrade ratings on nine of the eight stocks in our coverage universe. railroads to neutral, union pacific, canadian pacific. these are the issues the equity markets starting to pick up on. tom: bloomberg surveillance in front of this does two days ago with paul sweeney. george ferguson was grim, no other way to put it. jonathan: is the transports, it is the homebuilders. it is the banks as well. lisa: are we pricing in a slowdown or a recession? what is the distinction? increasingly that will be the focus for a lot of analysis. jonathan: for the moment we are pricing in the former. if you become something worse we will see. futures up one third on the s&p. on the nasdaq, up one third of 1%. yields higher on the session. 2.6754 will earnings season just around the corner. on tv and radio, this is bloomberg. ♪ if you're a small business, there are lots of choices when it comes to your intern

banks for a couple of reasons. first of all interest rates as we all see are rising. we think that bank of america to benefit from that. it has the most leverage to rising rates. that is a big positive. we'll see increase as year goes on. from a risk perspective, from a credit perspective, bank of america, many banks are well-run we think bank of america is most conservatively run of all of them. from a business perspective has lowest risk. slightly less than 2 1/2% yield, 10 or 11 times earnings with very strong balance sheet and very strong credit outlook. we think there ask decent upside case from here as investors realize rates are rising, we're not likely adding into the session. liz: michael, it has been a busy day. we have 30 seconds left here. what a turnaround from low to now the highs. do you feel the bull market is very much in play, even as high rates are coming? >> yeah i think we're pretty cautious on the outlook, expect continued volatility. we think with inflation, rising rates, geopolitical uncertainty, with elevated asset values, old saying go sell in may, go away. we're cautious

usando bank of america, sin parar. no encuentre otro dueño. carla agarró el ramo, pero es a su novio al que le cayó la indirecta. y los papás de la novia ya se ven disfrutando esa merecida segunda luna de miel. tu vida no se detiene. y con las herramientas digitales de bank of america, tus planes tampoco. cuando nuestra hija y nietos se mudaron con nosotros... niños, a dormir! ella pensó que no íbamos a poder con todo. claro que podemos. lo que no pudo fue nuestro detergente barato. tiene mucha agua, y eso no funciona tan bien con las manchas. así que volvimos a tide. una lavada y se fueron las manchas. qué? tu no te ibas a dormir? tide tiene 3 veces los ingredientes activos de limpieza de un formula super concentrada. tiene que ser tide. ♪uh!♪ ♪got to know how to pony♪ ♪like bony maronie♪ ♪uh!♪ ♪oww!♪ ♪ ♪ duerme tranquilo, en wendy's te espera un breakfast biscuit sandwich superior por solo $1. empieza tu día en wendy's con un biscuit calientito y en su punto con sausage o bacon y huevos hechos al momento por solo $1.

usando bank of america, sin parar.luna de miel tu vida no se detiene. y con las herramientas digitales de bank of america, tus planes tampoco. cuando nuestra hija y nietos se mudaron con nosotros el detergente barato no pudo con las manchas. tiene mucha ua. así que volvimos a tide. una lavada y se fueron las manchas. qué? tu no te ibas a dormir? no pagues por agua. paga por poder de limpieza. ♪ ♪ recibe frescura para cada platillo... y para cada ronda. walmart. ahorra más. vive mejor. ♪ ♪ cuando pides el nuevo deluxe three cheese and bacon omelette, logras una sonrisa en tu plato. solo en ihop. Únete al programa de recompensas y gana el doble de pancoins al comprar un omelette. ♪ [música] ♪ >> en una noticia en desarrollo, en florida hallaron a dos niños sin vida amarrados en un departamento en miami. la madre de los menores llamó al 911 desde la vivienda. sufría al parecer una crisis mental. encontraron los cuerpos de un niño y una niña en una cama. legisladores pidieron en el caso de melisa lucio que suspenda su ejec

and equity under writing did underwhelm in terms of bank of america, the factshat profits topped estimates lender release reserves for sour loans as well. it kind of sets the tone as we know with bank earnings and kicking off the earnings season sets the tone. what's expected to be a high bar to hurdle from an investor's standpoint for american stocks, american companies this season given the fact that there are so many macro head winds we have been talking about for so many months, carl >> yes, we'll watch that loan bl balancibalancies up abo. it is interesting we get a lot of feds speaking this week on thursday, we get powell, not once but twice there are materials written this morning whether or not the feds share of a based 15 points hike. >> yes, rates continue to move higher and that may press the broader market as we got going here about 28 minutes from now consumers continue to be a key focus as we all know 2.8% on the yield. carl, back on bank of america, they're talking about resiliency macro head winds if there are any. we know the impact of inflation

activities and a lot of concerns on geopolitical issues, the banks are excited about interest rates rising and the economy could be pushed into a recession. looking ahead, bank of americathe last of the big banks, it is the best position for right rising rate environment. we will see what they say monday. monday. jack: by security officials say ♪♪ ♪♪ ♪♪ ♪♪ this is koli. my foster fail (laughs). when i first started fostering koli i had been giving him kibble. it never looked or felt like real food. but with the farmer's dog you can see the pieces of turkey. it smells like actual food. i saw a difference almost overnight. healthy poops, healthy dog, right? as he's aged, he's still quite energetic and youthful. i really attribute that to diet. you know, he's my buddy. my job is to keep my buddy safe and happy. ♪♪ get started at longlivedogs.com new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria. visit indeed.com/hire and get started today. (fisher investments) in this market, you'll find fisher investments

usando bank of america, sin parar.o que perdió bailando no encuentre otro dueño. carla agarró el ramo, pero es a su novio al que le cayó la indirecta. y los papás de la novia ya se ven disfrutando esa merecida segunda luna de miel. tu vida no se detiene. y con las herramientas digitales de bank of america, tus planes tampoco. ♪ ♪ ♪i'm so defensive,♪ ♪i got bongos thumping in my chest♪ ♪and something tells me they don't beat me♪ ♪ ♪ ♪he'd better not take the ring from me.♪ , uysofía se dignó a visitarnos. he estado ocupada, prima. ocupada patty. ahora es gigillonaria. ¿gigillonaria? tiene at&t fiber con velocidades hyper-gig... su internet es tan rápido que nos la pasamos viendo series en 8k, sin parar. pero verlas no es lo mismo que hacerlas. mija, sabías que patty... sí, sí... gigillonaria. soy la nueva celebridad de la familia. vive como gigillonario. obtén at&t fiber - ahora con velocidades de hasta 5-gigas. disponibilidad limitada. ♪♪ >> dos misiles rusos vuelven a impactar lviv el presidente volodímir zelenski dij

activities and a lot of concerns on geopolitical issues, the banks are excited about interest rates rising and the economy could be pushed into a recession. looking ahead, bank of americathe last of the big banks, it is the best position for right rising rate environment. we will see what they say monday. monday. jack: by security officials say 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 jack: for weeks, ukraine has been battling brutal attacks from russia in several fronts including cyberspace. it forded a sophisticated russian hack on its power grid. officials found dangerous malware aimed at the energy sector in the us. former director of the us national security agency and commander of us cyber command, admiral michael rogers. thanks for coming on the show, appreciate it. let's start with cyber. what have we learned about russian capabilities from what they are doing in ukraine and the wall street journal reported is like the russian be team is doing most of its hacking. are we seeing it

that reminds me of the comments you made about bank of america speaking about the space more broadly.t, but i'm kind of looking at it i don't love what it's been doing. put that into context for me how firm of a holder are you of a name that you've liked for a long time with a ceo that you have praised meaning fully on this show? >> so, look, i actually expect both goldman and b of a or i'd be surprised if they didn't decline on the earnings report i don't expect optimism about the near term pipeline in banking. there's another n, also, which s that if you talk to any senior manager, they'll tell you they've driven a lot of their revenues through lending so you have great balance sheets you have eight credits at these banks. they're able to lend people like the billionaires who do borrow a lot of money from them, at such low prices at such low rates. as thouse rates go up, that business is going to decline why do i like it because i think that the yield curve is going to steepen again and they'll make money on spread i also believe that a lot of the third party lenders that have come

shery: next, bank of america says u.s. consumers holding up wealth. on with a ceo is next. this is bloomberg. ♪ shery: brian moynihan, bank of america ceo says inflation is rising but america is holding up well. he spoke with david westin. >> this is a strong labor market. employers cannot get enough worker, which bodes well for employees getting more pay. we will see how it plays out but this is a different place to start from. >> a very strong labor market. what about the housing market? you were down a little bit in residential mortgages. as rates go up, i guess people are less likely to borrow money to buy a house. >> as rates go up the cost of the mortgage goes up. 1% is $2000 more per year. so this affects affordability. but people make a mistake thinking this market is a major contributor to the economy. what drives the housing is construction. there is still a lot of demand and housing. there is a housing shortage in many areas. tens of thousands of units of workforce housing need to be built in charlotte, boston, and new york. that will hold u

bank of america sought to .65%. i wonder what dollar-yen remains on its knees, or in put the bank of japan move on the yield target. that may have some heavy implications for the dollar-yen. dani: so far, the dollar-yen moves have been jawboning from the bank of japan. in asia, asia-pacific index down .1%. pretty flat on the day. steep losses and hong kong tech, due to regulation fears and some of the damage in u.s. type over interest-rate concerns. here's your stock pickers, playing catch up to yesterday's gain in u.s. equities market which europe missed out on. when it comes u.s., similar to asia, basically flat to downward. another day, another futures session of underperformance, that growth picture, the growth concern is the fed starts to slam on the brakes, slowly creeping into equity markets. manus: the play muted on the equities front. reporters are standing by. the latest on the russian sanctions. stephen engels has the update. dani: kicking things off with ukraine, where in the wake of atrocities, the u.s.

activities and a lot of concerns on geopolitical issues, the banks are excited about interest rates rising and the economy could be pushed into a recession. looking ahead, bank of americathe last of the big banks, it is the best position for right rising rate environment. we will see what they say monday. jack: by security officials say russian hackers are targeting us energy. the former head of us cyber command, admiral mike rogers is next. your record label is taking off. but so is your sound engineer. 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 this is remington. he's a member of the family, for sure. we always fed him kibble it just seemed like the thing to do. but he was getting picky, and we started noticing some allergy symptoms. we heard about the farmer's dog and it was a complete transformation. his allergies were going away and he just had amazing energy. it's a no-brainer that remi should have the best nutritious and delicious food possible. i'm investing in my dog's health and happiness. ♪♪ get started at longlivedogs.com you can't buy love.

we get that earnings call for bank of america. john has been talking about the subsector of the s&p. this tank index is back where it was a year ago. just give you a sense of how much of a round-trip we have had in sentiment. when you look at one indicator of global momentum. the housing market continues to be a mystery. the housing market index tracks the sentiment of homebuilders. it has taken a hit. how are they dealing with the fact that they are facing higher costs from inputs like workers. what does a 5% handle of those mortgage rates really mean for the activity in this market. st. louis fed president is speaking at the council on foreign relations ahead of that event on thursday were we get jay powell speaking in tandem with christine lagarde. real yields and to meet this really is one of the underpinning stories of assets. real yields are almost zero for the first time going back to the heart of the pandemic in 2020. are we just waiting for that inevitability. jonathan: tk, are you doing your taxes? tom: that was mike from

usando bank of america, sin parar.ida no se detiene. y con las herramientas digitales de bank of america, tus planes tampoco. (♪♪ mÚsica ♪♪) . >> decenas de niños con cáncer, lo pasaron en grande en el primer porque acuático inflable en el salvador, los invitaron a pasar un día especial después disfrutaron de lo lindo angie nos tiene más . >> esta fue la reacción de decenas de niños con cáncer e insuficiencia renal que conocían estas aguas . >> (inentendible) . >> cómo sentiste ahorita el agua ,. >> sentí frío . >> también llegaron lukas los más grande sd elas ompiadas especiales . >> ya había venido al lago . >> es primera vez . >> fueron invitados de honor, novedoso parque acuático de la alcaldía . >> casi nadie piensa en ellos, los únicos que administran esta historia triste son los padres . >> estas opciones de entretenimiento son las más nuevas de los salvadoreños . >> sus rostros lo decían todo, olvidaron de a poco sus tratamntos . >> cómo te sentiste . >> bien . >> donde quiera eh . >> otros no pudieron meterse