brian moynihan the ceo of bank of america.studio. >> thank you. >>> coming up, we're going to talk the future of twitter. then later reaction to the ecb rate decision or non-decision. and interest rate talk with former dallas fed president richard fisher. "squawk box" will be right back. today, i am helping people work better... and also feel better. i am helping hospitals personalize treatments using billions of data points. and working with medtronic to predict the highs and lows of diabetes, hours in advance. and i am working with orreco to use biomarker data to boost the performance of athletes. hello, my name is watson. working together, we can outthink anything. hwe're drowning in information. where, in all of this, is the stuff that matters? the stakes are so high, your finances, your future. how do you solve this? you don't. you partner with a firm that advises governments and the fortune 500, and, can deliver insight person to person, on what matters to you. morgan stanley. it's a very specific moment, the launch wind

. >> and b of a ceo brian moynihan said more cost cutting is coming.st up apple hoping the newly launched iphone 7 and 7 plus will revive slowing sales. the features include longer battery life, higher resolution cameras, water resistance and, of course, the lack of that headphone jack. meantime wells downgrading it to market perform expects shares to be range bound since positives surrounding apple largely unknown. the journal today, though, says enough new fiereatures people w be tempted to upgrade rather than next year. >> age is ignorance. i think those of us who have kids who play these games, and i'm not -- i'm talking about loving these games, whether pokemon go or any of these, when you plea these games, your battery life is everything. you run out in the middle of the game. the millennials this is what they care about. gpu performance, 50% enhancement, pcu two hour improvement on the wider one, this sells for people who are younger than analysts. none of these analysts is young enough to understand why this phone is going to sell because they'

wilfred's exclusive interview with the bank of america ceo brian moynihan. you're watching "world wide exchange," cnbc. now that we've added adjustable base, my favorite part is to be able to lift your legs up a little bit, and it feels like i'm just cradled. change your sleep, change your life... change to tempur-pedic. now thru september 11th, upgrade and save on select tempur-pedic mattresses and adjustable bases. >>> welcome back. yesterday we were certainly flat. the dow and s&p just below the flat line and the nasdaq slightly higher. airlines lead the market high yesterday. apple closed higher. 0.6% after product launch yesterday. let's have a look at oil prices. turned around this week. two negative weeks. quite significant negative weeks. we gained 2% yesterday and another 2% today. 46.35 on wti crude. now president obama is wrapping up his visit to asia this week with a news conference in laos. he's expected to begin any minute. >> his final trip to asia as commander in chief. >>> let's get to today's top story. ecb and policy decision around 7:45 a

he has come out in the past with financial institutions and supported ceos under fire, brian moynihankfein. >> he hasn't said a word. >> in november what if he says i'm selling? >> i agree with you. >> what if he does decide to exit that stake? to john's point now, you're looking at a stock. >> it's a great buying opportunity? >> there's no question. great buying opportunity. >> these things pass. this is not a permanent mark on their reputation. the question is why does it still have a premium on book value, which is a common way to measure banks. around 126 versus 106 for jp morgan. it doesn't make any sense. whoosh. buy it. >> thanks. >> see you down there tomorrow. oil prices on the move. you see the spike on the chart today. we are going to hit the nymex next. the pursuit of healthier. it begins from the second we're born. because, healthier doesn't happen all by itself. it needs to be earned every day. using wellness to keep away illness. and believing a single life can be made better by millions of others. as a health services and innovation company optum powers modern healthca

the message, both from jpmorgan earlier in the summer and from brian moynihan is absolutely not that.positive sign that the consumer is not worried about credit quality, which suggests it's a bullish thing of a pickup to come in the economy that we haven't seen yet. >> the only little wrinkle is what everybody is now saying about this funnel, this push, this leap into equities as being the only alternative. >> and i think that's something that we all have to continue to worry, when you hear it from someone like brian moynihan. he ceasees the volume we've see over the summer. and with yields so low, there's a push into various dividend stocks. >> it's hardly a dividend of stocks when you say, how else are you going to invest your money? thanks, wilf. but not always right on the consumer front, supervalu joining the list of grocery chains lowering their profit guidance. susan lee joins us now. what's going on with consumers and their food? >> let's be clear, it's not because americans are eating less or shopping for fewer groceries. i can tell you that from my own expanding waistline. i

tom: very quickly, what does it mean for brian moynihan and other commercial bankers?can they? adjustment foral banks and their customers and i recognize that fully and i think marvin does. this would be something you only use where you absolutely had to. the bank would have to get used to paying to have their money at the federal reserve and ultimately i think you would be in a situation where they would have to charge customers giving money and deposits. tom: we will come back and we will continue with richard clarida this fed day. >> we have some breaking news here from bloomberg world headquarters in new york. i am scarlet fu. we are awaiting the fed decision. cigna.es on anthem and according to politico, they have one another of the merger breach. they are citing letters between the companies in an antitrust filing. cigna, if you take a look at the shares, lower in trading right now. we are talking about a fairly modest move when it comes to the overall market. they have accused one another of a merger breach according to politico. we will continue to monitor thos

tom: jamie dimon, brian moynihan, mr.k -- they do not have the end of time that you have. how do you dovetail their world into the theoretical world of rogoff? is ai am very clear, this long-term proposition. central banks cannot just jump in deeper right now without clearing the way. so that is the answer. i think in the long run, angst make money off of this. as long as they charge a higher rate for their loans, and they are paying for the money, they make money. my plan excludes small depositors, and gives banks the credit for giving them zero. far down canr, how you push negative rates? is there a limit? ken: if you do the ideas in my book, and this takes a long time to blame, -- and this takes a long time to explain, but basically no. right now, yes. there are just lots of reasons decides cash that you cannot push at that low. exactly how low can they go? i don't know. how low can they go effectively? i also do not know that. there are a lot of obstacles at the moment. that is what the financial firms are pushing bac

i spoke to brian moynihan and the tech issues going forward. >> that was just in my opinion, it was justr of time. many of my investments, it's not an if it's going to happen, but it's a when. and i can't tell when. and it has taken longer than i expected for the financials to recover, but they've been tripping all over themselves and they're being disintermediate bid higher companidisintermedia by higher companies. there's still a big trust factor when you go to a bank, a financial institution. do you feel you're wrong, there are remedies. in the newer concepts, it's not so clear to me. >> you mentioned there are some things they should have done or companies they should have purchased. what would be an example of that? are you talking square? >> square or pay pal. they should have known all of that. >> is there still time? are they still attractive? >> the banks still have a level of consumer trust. on the one hand is consumer outrage about what happened across the financial spectrum during the last crisis. but on the other hand, your best shot to get a fair deal will be through a trad

this morning's biggest movers and tomorrow don't miss a cnbc exclusive with bank of america's brian moynihan eastern. you're watching cnbc first in business worldwide. as you can see, i build the jet engines, and programmers teach them to talk. so yeah, ge is digital and industrial. so it's indigital. digidustrial. indigenous. shhhh... let's go with digital industrial. for now. digidustrial. yeah. or, digital industrial. what's going on here? i'm val, the orange money retirement squirrel from voya. we're putting away acorns. you know, to show the importance of saving for the future. so you're sort of like a spokes person? more of a spokes metaphor. get organized at voya.com. >>> welcome back to squawk. stocks western digital raising its current quarter earnings forecast. saying its recent acquisition of sandisk has given it more customers anding at t ing at tt will spin off its cars.com unit and consider strategic alternatives for its career builder business. >> one more check on the markets. the futures slightly negative as far as the dow all morning and less negative down about 4 points. t