just minutes later, officers responded to the chase bank in fruitvale for a similar crime.amage, it could be linked to the robbery. unclear if anything was stolen from the bank. >>> including power outages and road closures in alameda. damaging a vehicle while they lost power. caltrans responded to fallen trees on highway 13 in broadway terrace, causing road closures. >>> right now, the air quality in southern california is unhealthy. at an unhealthy level as multiple smoke happens over downtown los angeles. pretty much the same today. >>> a live look right now from high above those fires right now in l.a. county. you can see them burning right there. let's bring in paul right now. any relief from this fire, right? >> yes, temporary relief as they will not back off, but they will back down from the 8 l 0 to 90 miles an hour gusts. and air quality is still going to be a big concern. let's take a look at the satellite perspective when we turn on the weather earlier today. literally taking a picture of the clouds from space or what's mostly cloud cover. the stripe of white tha

this chase bank was here maybe about two hours ago, maybe an hour and a half ago.ut you can see, you know, things just continue to burn here. we don't have monitors out here, but i just can't imagine what the aerial shot from julia deng, you know, looks like, because we're seeing this on the ground. and the other thing that's different is just no matter how far we have traveled, maybe like two miles up and down, all, all around palisades, the devastation is everywhere. there are not too many neighborhoods that have been left untouched. devastating to see. the crisis is demanding an unprecedented, unprecedented rollout of firefighters. governor newsom says nearly 5000 boots are on the ground at the palisades, eaton and hurst fires. some of those firefighters coming in from nevada, oregon and washington. the state is also getting resources from the u.s. military. president biden was in southern california today approving a major disaster declaration for the area, clearing the way for federal funds and resources to be used in recovery efforts. and fema has approved a

interesting that the chase bank is estimated and the property damage is 20000000000. so you know, why not take that 20000000 as a, get the equipment and give it to americans to meet at many of the move. don't have any insurance coverage anymore. as far as the incompetence. there is some evidence that there is some local government incompetence, you know, they cut the budget of the firefighters, the mayor of the newly elected the career politician, medicare and bass, uh, takes off right off like on a junket. you know, when she was being warned that we got, these are being sent out or what is coming. you know, they're below 50 to 80 miles an hour. and when they below the, there's no way you can contain it until it stops. or we have a convergence of, of problems here, both in terms of local government and water systems and water supplies, and bad decisions that have been made. the government has to step in and do something. and you know, it really irks me that we throw all this money off shore to all these uh, neil con moore's proxy wars and everything. and we can't find

bank of america -- chase bank is inside of jp morgan. did they issue a statement? the house, my pal shills rung the banking or financial services committee. can't y'all do anything about this de-banking stuff? >> well, you (&.k the comment is we didn't can dell banking but you need to get loans and see state controllers like new york and making non--merit based decisions and political decisions on people they're not going to invest in and really lucrative areas like fossil fuels and energy stocks because they could be really good for pensioners and people in new york but it's for political reasons and it should be neutral and what i should have said is merit-based. this is the problem. larry: i think they were both guilty of esg and climate -- don't help fossil fuel or climate companies and woke and dei. this thing is woke written all over it. trump will change this i hope, but i think this has woke written all over it. >> trump is doing it and throwing it all out the window and it's amaizing. it's the most incredible first week of a presidency i've witnessed and i

the incident caused a gas line to rupture near a branch of chase bank. point, pg and e crews are working to stop the flow of gas to repair that broken line. traffic around the area is affected. keep that in mind. no word yet on when repairs will be made. >> president donald trump gave his first international address of his second term this morning, speaking to business leaders virtually at the world economic forum in switzerland. rebecca castor reports. he continues to play up the american business climate, while saying he's willing to get tough on trade deficits with tariffs. >> in the picturesque ski town of davos, switzerland. donald trump is the hot topic at the world economic forum, as business and political leaders try to predict how his policies will affect the global economy. >> i think that we are heading towards a trade war and towards a more strategic decoupling of the economies. >> in the first few days of his presidency, trump has threatened tariffs on china, mexico, canada, russia and the european union as a way to address a number of issue

interesting that the chase bank is estimating the property damage is 20000000. so well, you know, why not take the 20000000, i think i get the plan and give it to americans to meet at any of the move. don't have any insurance coverage anymore. as far as the incompetence, there is some evidence that there is some local government incompetence. you know, they cut the budget, the firefighters, the mayor of the newly elected the career politician, medicare and bass, takes off right off like on a junket. you know why she was being warned that we got, these are being sent out or what is coming. you know, they're below 50 to 80 miles an hour. and when they below the, there's no way you can contain it until it stops. or we have a convergence of, of problems here, both in terms of local government and water systems and water supplies, and bad decisions that have been made for government has to step in and do something. and you know, it really irks me that we throw all this money off shore to all these the neil con moore's proxy wars and everything. and we can't find it e

ten republican ags signed a letter directly challenging goldman sachs, jpmorgan chase, bank of americaer major financial institutions, writing, quote, you appear to have embraced race and sex based quotas in the furtherance of political agendas, which may violate federal and state laws. i want to bring in kristen gibbons feden, a civil rights attorney, former prosecutor and msnbc legal analyst. errin haines is editor at large of the 19th and an msnbc political contributor. kristen, it's one thing for the president to issue an executive order eliminating dei programs in the federal government. it's another entirely for state ags to go after private companies for hiring decisions and initiatives. so tell us about the laws that are in place for these ags to lean on. if they do indeed want to pursue some kind of legal action. >> gs are actually. >> relying upon here because they're targeting financial. >> institutions. >> is that they're accusing them of fiduciary. >> duty breaches. >> and so. basically they're saying. that they are breaching their fiduciary duty to their shareholders. >>

we just saw a helicopter circle the next block over over that chase bank and dumped some water over there. but we are feeling a little bit of wind coming up. i'm not sure if we should be optimistic about it, if they will be able to continue with aerial help coming from the skies. now, there it is. but firefighters have been having to make some really tough choices. where we are now. moments ago we saw engines just blocking up the street, going to clearly something that was a lot more important than this. and this was a large fire raging. look, it's the same situation with houses. this means that people would have been left to help each other. i spoke to a group of neighbors that was using buckets and garden hoses to try to stop an apartment building fire from spreading into another one of their neighbors house, that people are really helping each other, trying to clear the brush, trying to contain this fire. but it is really difficult. and firefighters are saying, please be careful. please turn around when it gets too hot, when it gets to difficult. but i believe that's just human nature.

you'll see a chase bank machine or a bank of america. the bank machine is there, still tarnished and burned, as if from a war and complete devastation. the elementary school burned down. i talked to a man who lived right over the hill, watched his condo caitlin burn down on live television, watching live tv like so many people were, and then said, oh my god, that is my home. the home where he and his wife raised their two daughters, their school here in pacific palisades, like so much, is now completely burned down. here's what he told me just a few moments ago. >> basically, their history burned up. last night we watched elementary, which is where both of them went to school. we watched that burn live on tv pali high, where they both went. they we watched that theater, palisades, where they both did their plays, and i built sets at, you know, basically their entire history. we watched burn live on tv. >> it's shock, it's trauma, it's loss. and those fires now reigniting worries about more spread. and that kenneth fire spreading tonight.

you'll see a chase bank machine or a bank of america. the bank machine is there, still tarnished and burned, as if from a war and complete devastation. the elementary school burned down. i talked to a man who lived right over the hill, watched his condo caitlin burn down on live television, watching live tv like so many people were, and then said, oh, my god, that is my home. the home where he and his wife raised their two daughters, their school here in pacific palisades, like so much, is now completely burned down. here's what he told me just a few moments ago. >> basically, their history burned up. last night we watched palma elementary, which is where both of them went to school. we watched that burn live on tv pali high, where they both went. they we watched that theater, palisades, where they both did their plays. and i built sets at, you know, basically their entire history. we watched burn live on tv. >> it's shock, it's trauma, it's loss. and those fires now reigniting worries about more spread and that kenneth fire spreading to

but you know, chase bank, this is a relatively small part of their business. they can make outsized profits, lots of other things, including the thing that we actually need to do on this planet, which is deploy lots of capital to build solar, wind turbines and batteries as fast as ever. we can. what's holding them back? is it that the ceo of exxon said earlier this year that his company would never invest in renewables because they don't return above profits for our shareholder. and in that he's correct in that you can't you can make plenty of money putting up solar panels but you can't make exxon money. and the reason is, once you've put them up, then the sun delivers the energy free every morning when it rises above the horizon. you exxon can't control the sun's output and it up and sell it to a little bit at a time. it's a it's a great from the world around us that we can take advantage of and. that's spectacular news for, humanity. we're at the moment when if we could seize it, we could stop burning things on planet earth. in short. that's you know, not on

bank of america. citi jp morgan chase. wells fargo. u.s. bank. they will offer homeowners or 90 day moratorium on their mortgages and they will offer payment plans qualified. homeowners have to live in the areas affected by the fires. they should contact their mortgage companies to enroll in that program. and artist from texas painted a mural in pasadena to remember the victims of the eaton fire. the tour through altadena last week. this is a mural painter. roberta marquez. he says he was in new orleans working on a mural for the victims of the new year's day truck massacre. when he heard about the california wildfires. >> keep memory alive. made are people working flowers in the morning. all. and those it does come sop to by the end the >> you just but yes in pasadena, people did hold a vigil today to honor the victims. the east bay woman accusing sean diddy combs of sexually assaulting her is talking to reporters off-camera ashley parham filed a lawsuit against combs for an alleged assault in orinda. she says it happened in 2018. her accounts o

one was at a chase bank on fruitvale avenue at about 4 a.m.re about to see the damage left behind at the atm. a car drove into it and wrecked it, left a large hole and pulled part of the wall off the building. the other happened at a market at 14th avenue around 430 this morning. right now, it's unclear if police have anyone responsible in custody or exactly how much money was taken, or how much the damage totals are reaching. we have reached out to opd. we're waiting to hear back. across the bay, city leaders in san francisco say the crime rate is at a 20 year low. the police department says property crime is down 31% from last year. violent crime down 14%, and homicides are at a 60 year low. car break-ins were cut in half compared to where they were last year. outgoing mayor london breed says the drop is due to a strong district attorney, new state and local laws and the implementation of new technology. >> we have what we need to be a successful city, and i feel very strongly and proud that i've laid the groundwork for what has been extraor

bank of america. citi jp morgan, kate chase, wells fargo. and u.s. bank offer the homeowners a 90 day moratorium on their mortgages. they'll also offer payment plans qualified. homeowners must live in areas impacted by wildfire. they should contact their mortgage companies to enroll in the program. >> well, your money this morning, a recent survey by abc research shows the san francisco bay area has the highest concentration of jobs paying over $500,000 in the country. the survey shows one in every jobs in our region offers such salaries. this means the bay area far outpaces cities like boston and new york experts say the area's proximity to silicon valley in the booming tech industry are major factors with high salaries often tied to productivity and corporate success. still ahead on the kron, 4 morning news state leaders vowing to protect undocumented immigrants ahead of donald trumps presidential inauguration tomorrow. >> hear what attorney general rob bonta to say. governor gavin newsom saying that he would threaten to withhold state funding from

the last three years to keep the cash reserve for the central bank and trump against bank of america and j.p. morgan chaseinst customers both banks responded saying they never closed accounts for political reasons, give us your sense of the fed in that regard. >> i think that suggests an interesting challenge to the fed. we know conservatives had been debunked they suddenly find out their accounts are closed and the bank does not want to do business with them. i think this reflects the regulatory ambiguity and basic relationship between the fed and commercial banks in the fed does pay especially the large banks like j.p. morgan and bank of america it pays them a hefty interest rate to keep money sitting in cash that could go into the u.s. treasury which would start to reduce those longer-term rates or even better it would go into the private sector lending right now banks are making less than half of small and medium-size businesses they are getting capital from non-bank institutions. i think it would be worth it to say instead of the banking milan and trump or the national rifle association, let's find o

bank of america, citibank, jp morgan chase, wells fargo and u.s. bank will offer homeowners a 90 day moratorium on their mortgages. they will also offer payment plans qualified. homeowners have to live in the areas affected by the fires. they should contact their mortgage companies to enroll in that program. the bay area nonprofit known as flying tails. animal rescue is dedicated to transporting animals all kinds to get the help they need. and recently volunteers helped to rescue dogs affected by the wildfires in los angeles. lot of you will recognize the organization's founder kron 4 former anchor can wait a real animal lover reporter stephanie lin talked to can today about the group's mission. walk us through what inspired this work. i know you and i conversations about this back when you were working here at kron 4. but for viewers who might not know what inspired you to put it in, you know, embark on this journey to do this. >> well, when i first started 2018 kron, i came across rescue needed to happen is to bearkats up in south lake tahoe that

so you have bank of america citibank, jp morgan chase wells fargo and u.s. bank. the runoff of the homeowners. a 90 day moratorium on their mortgages. also offer payment plans so qualified homeowners have to live in the areas impacted by the wildfires and they should contact their mortgage companies to enroll in the programs. and artists in texas paid a mural in pasadena that remembers the victims of the eatox fire that tore through altadena last week. take a look. this is muralist pain or or birth taught my kids. he says he was in new orleans working on a role there for the victims of the new year's day truck massacre. hour. the devastation caused by the wildfires. people in pasadena held a vigil on saturday to honor the victims. a stock tiktok. let's back up and running after and briefly went offline saturday night when users open up app, a message popped up saying it was working with president-elect trump to restore service. and by sunday morning it was back online for 170 million americans with another message saying as a result of trump's efforts, tiktok is b

the world economic forum yesterday in davos, switzerland the president calling out bank of america and j.p. morgan chasey. >> president trump: i hope you start opening your bank to conservatives. many conservatives complained the banks are not allowing them to do business within the bank and that included a place called bank of america. they don't take conservative business. and i don't know if the regulators mandated that because of biden or what you and jamie and everybody, i hope you will open your banks to conservative. what you are doing is wrong. >> bret: joining us now fox news contributor katie pavlich. the banks quickly put out statements after the whole q & a and the statements. j.p. morgan said we have never and wouldn't close an account for political reasons and chase saying sometimes it results in decisions to exit client relationships and never close account for political reasons and don't have a political litmus test. what about this part and what the president said there? >> well, the president did mention that maybe there was some pressure from the government on these banks to debank cu

with the major banks they're going to kick off fourth quarter earnings next week. jp morgan chase bank of america, all reporting fourth quarter next week. that will set the tone for markets. what are you expecting? >>over all in 2025 it's expected to be a very, very strong year for earnings growth and for margins. right narks analysts are pricing in record margins which is pretty remarkable. it could happen. there's a path for it to happen but it certainly seems unlikel and earnings growth expectations for 2025 are at 13% which is -- that's pretty high. the last two years have been high single digit earnings growth expectations and when you have lower expectations and you surpass or exceed those expectations, stocks move higher so we've seen two consecutive years of 20 plus percent returns in the market with very low volatility. now that expectations are going to be a bit higher this year, i think it's important that investors kind of reset their expectations. i mean, the bar has been set very, very high this year. there's certainly a lot of optimism that's out there. maria, to yo

the major banks kicking off fourth quarter earnings season, jp morgan chase, wells fargo, citigroup, ldman sachs reporting tomorrow, bank of america, morgan stanley on thursday. goldman sachs joining a new group for facilitating finance deals. stock is up this morning, about two thirds of a percent. how does that all square for you in terms of the earnings given this move in rates? >> i'll tell you what, it's a little hard to make a square of all of that. there's a lot of edges going on. maria: yeah. >> it does seem overall positive and when we really leak at especially how jobs did last week and combine with all the other economic data we're getting i'm expecting the big banks to be pretty positive. the other reason we're up on those banks is because of the comments that we heard coming out of goldman just talking to chris a little before the segment about the fact that we are sort of going into a financing world where if we're going to settle at this higher level of prices, americans are just going to start breaking up their payments for items that are not typically finance worthy a

and whether or not they see an impact from the yield spike, the major bank taken a four quarter earnings season, j.p. morgan chasergo, citigroup, goldman sachs all reporting tomorrow morning, bank of america morgan stanley on thursday you predicted rebound in m&a deals this year with help from the caps and financials and strong capital market activity. no doubt this administration is going to look at m&a a lot differently than the prior administration. i agree with that. would you get in front of the and by banks. how you feel about their needs we will hear this week, tomorrow. >> on the m&a front we just went there. that was pretty ridiculous. amazon was stopped from buying rumba for antitrust reasons. >> that is ridiculous. >> that was the height of ridiculous. >> were going to unwind the mentality that has to be unwound that will lead to businesses with competent to make deals in the neck would have millions and millions of dollars in litigation costs for not reasons that have merit who's going to stand to benefit from that the capital markets activity in the diversified banks we load the large cappings that w

right when that opening bell rang this morning before the bell rang, some of the big banks jp morgan chases fargo and goldman sachs all posted strong quarterly numbers, thanks in part to higher fees and an increase in m&a, which is merger and acquisition business. all right. taking you live to see those numbers and that nice rally. dow jones has held steady. they're up about 1.5%. 630 points. the s&p 500 up more than 1.5%. and the nasdaq gaining more than 2%. now up 420 points. the upcoming tiktok ban has a lot of social media users scrambling to find a new app. it's also impacting small business owners who use the app to connect with customers. small businesses can use tiktok for more than just generating engagement. they can also use the app to sell products and services. instagram and other social media apps offer similar tools for businesses. however, users say tiktok's algorithm is built, so accounts with not so many followers can still reach thousands of people with a video talk. >> anyone can go viral. anybody can have that moment. >> time to shift gears when look into maybe some of

banks. he shares some of those views with lesley stahl. >> did you say, when i grow up i want to be banker? >> no. >> reporter: no? his company, jpmorgan chase0 trillion a day and banks people, industries and countries. we have unbelievable numbers of billionaires come up. billionaires. what's out of whack here? >> you have to be careful to say what's out of whack. >> reporter: jamie dimon ahead on "sunday morning." >>> brooke shields, whose modeling career famously began when she was just a baby, has been in the spotlight nearly her entire life. with her 60th birthday approaching, being allowed to age gracefully so very much on her mind. she'll tell all to our faith salie. >> we all are these human beings that are just want to feel good about ourselves. >> reporter: as a young model, brooke shields helped define just how we view beauty. now, at age 59, she is locking to redefine the way we see middle aged woman. >> there is a sex appeal and then wrinkle cream. like, there is no in between. >> reporter: the age and wisdom of brooke shields later on "sunday morning." >>> seth doane will be taking us on an excursion inside an exclusive, some w

they're said to be hiring banks like j.p. morgan chasearrange what could be the biggest hong kong offering in recent years. coming up, how snowflake plans to meet the growing demand for a.i. skills. sridhar ramaswamy is joining us next. this is "bloomberg technology." ♪ caroline: welcome back to "bloomberg technology." i am caroline hyde in new york. a quick check on the markets for you. we are in sell-off mode when it comes to the nasdaq. all of the magnificent seven are in the red. worries about inflation this week. we have the start to the earnings season and where inflation rates and interest rates are therefore going, what it means for big tech. a look at the key movers, the one i choose is nvidia. it's second in terms of market cap stahlization on the nasdaq 100 below that of apple. we have wiped off all of 2025 gains. this latest issue is of course surrounding the white house implementation from at least this current administration. there will be limitations on the ability to sell their high end a.i. chips. export limitations will

maria: the major banks are kicking a fourth-quarter earnings and that will take precedent in terms of what's going to move markets, j.p. morgan chaseing out wednesday bank of america, morgan stanley on thursday. in terms of the banks of the huge moves at interest rates and wondering if this will be a major issue bank of america with the largest unrealized losses in the industry, that could be a big focus when bofa reports when you're expecting for the major banks when the fourth-quarter number start coming out. >> is going to be really for investors to get some learning banks and technology and away from tariffs and the headlines that were seen. the best in class is j.p. morgan and were growth managers we find a portfolio so we can get back to loan growth also like an oxymoron but jamie dimon the best in the class but as far as it will do munificent december 31 that will not be as important interest rates might come down but going forward the guidance can be key to these companies bankamerica and so forth. the rate at 4.7. and for new quarter that's a pretty big rise and there will be unrealized gains overall banks are in good shap

the largest bank in america, jp morgan chase, plans to soon tell all of its employees they need to goto the office five days a week. the bank is based in new york, but they do have an office in san francisco. the move would end the company's hybrid work option. about 60% of jp morgan's employees are already required to be in the office all week long. in recent months, businesses including amazon and dell announced plans to require employees to go back to the office full time. >> a beloved art project in san francisco is bringing beautiful colors and unique designs back to the ferry building. the 2025 hearts in san francisco were unveiled this week. each heart is up for auction, raising critical funds for zuckerberg, san francisco general hospital and trauma center. this year, 22 artists were selected to have their hearts displayed. this is the 21st year for the hearts in san francisco project. >> your morning money report now. we've known california's great america is going to close at some point, but it could happen sooner than we expected. our media partners at the bay area news gro

crowded and is becoming less and vowed to go after people based on this and my hope is when bank of america and chasend the other company say we don't care what they mean it. >> she wrote this in the journal mr. trump has successfully turned the page he established the feeling the past is sought in the future is electric. were just getting started. looking ahead to the first federal reserve meeting of the year it is next week president trump demanded a drop in rates immediately, he said that yesterday sapphire chairman will be here with his expectations john was a moment you're watching "mornings with maria" live on fox business. ♪ with the chase mobile app, things move a little more smoothly. ♪ deposit checks easily and send money quickly. [coins clinking] ♪ that's convenience from chase. make more of what's yours. check in time is 3:00 it's 2:55. i know. is this what he's doing now? as your host, i have some rules. first, no showers longer than 5 minutes. this isn't a spa. no games. no fun. yes, coach. (♪) meanwhile, at a vrbo... when other vacation rentals make you share your turf with a host, try

put your finger on the one that is the most valuable of them all, amongst the biggest banks, which is jp morgan chasey have deserved the valuations over the number of years. for them to really deliver this year, in terms of stock performance. it's really going to have to come more from earnings growth than valuation expansion. but there are a number of other banks, whether it's bank of america, in the money center space, or even in the regional space. these companies, multiples can expand. because when you go back in time, and i'm not talking about the prefinancial crisis barrier. because that's not really fair to use those periods since the banking industry has changed, considerably since that crisis. but if you go back to january, 2018. that was the cyclical high. and they traded. 2.2 times tangible. and about 12 to 13 times forward earnings. today, we're about 1.3 to 1.4. 1.7, times chargeable. tangible. you're right. we've had a nice move-in with the group. i think the real growth, from the stock prices could should come from the better-than- expected growth potentially in 2025. >> gerard, great

trading, 97 the nasdaq 52 about a quarter represent, cb 500 up 11 major banks kicking our fourth-quarter earnings this week, j.p. morgan chasefargo, citigroup and goldman sachs all reporting coming up this morning, bank of america morgan stanley will report tomorrow. commonwealth financial network chief investment officer brad mcmillan, great to see you thank you so much for being here, what are you expecting from the banks this quarter. >> i think it's going to be a good quarter, there is a lot of worry about how the economy is falling apart and the jobs report that we just got in worries about the demise are premature at best. i think you will see reversal of loan-loss reserves. you will see relatively strong performance in going forward which is the real question, the guidance we are seeing the yield curve normalize so i think it is going to be a lot more optimistic looking forward than they have been. maria: now that were talking about the fourth-quarter likely more important part of the story is what they say about 2025 angela get a backdrop of trump policies coming in. a lot of deregulation which is major. maria: this

listen, the fast and furious executive orders there are now banks like j.p. morgan chaset the impact as it's coming at it in these first days. >> there are and with good reason he is trying and seeing it happening before our eyes in the federal government to government's bureaucracy. and as that unfolds and as new policies put in place by his executive orders toward this issue come into play these companies have these big departments of diversity, equity and inclusion and were very well paid staff and all that they will have to deal with that they are not going to need anymore. probably impermissible to have them. work do. it will keep lawyers busy for a while. i'm sure of that, bret. >> journalists too. brit, as always. thank you. >> bret: up next secretary of state rubio on the job and checking things up the state department and beyond we will have a live report from there first, beyond our borders tonight yemen's released the crew of the vehicle carrier sized in -- vehicle carrier seized in november of 2023 at the start of their campaign in the red sea corridor mediati

we also have the major banks kicking off fourth quarter earnings this week. jp morgan chasells fargo, citigroup and goldman sachs reporting on wednesday followed by bank of america and morgan stanley on thursday. joining me now is cfra director of equity research, ken leon. good to see you. thank you for being here. before we get into the banks earnings what is your take on yields here and the impact that spiking interest rates will have? >> great to be here, maria. i mean, mostly rates are going higher for the right reasons. we have a u.s. economy growing at 2 and-a-half percent or more, the best in the world and if we have that plus healthy job growth which we did noted on friday, that's a good picture to deal with the headwind of higher rates. you know, the bond market always likes to say when yields get to a certain level, equities are less attractive but the story i think for the market, for equities and for banks is having strong earnings and upward revisions which i think we'll see from the analysts. maria: yeah, but what about their bond portfolios? if you have a hug

. >> the ceo of the world's largest bank, jamie dimon of jpmorgan chase, is dismissing concerns from businesses and governments that are nervous about president trump's tariffs. trump is vowing a 10% tariff on chinese goods imported into the u.s., though he's floated the idea of having it go up as high as 60%. remember, he's also promised 25% tariffs on imports from canada and mexico, coming just in about ten days on february 1st. diamond spoke to cnbc from the world economic forum in davos, switzerland. check out some of what he said. >> i look at tariffs. >> they are an economic tool. >> that's it. >> they're an. >> economic weapon, you know, depending on how you use it and why you use it and stuff like that. and you know people argue is it inflationary and non-inflationary? i would put it in perspective. if it's a little inflationary, but it's good for national security, so be it. i mean, get over it. >> cnn anchor and editor at large richard quest is at davos in switzerland for us. and richard, we spoke yesterday a little bit about this, how trump's promise of tariffs was being r

chase. how do i not break the bank?" we got you, pete.ccess to wifi speeds up to a gig. so you get high speeds for low prices. better than getting low speeds for high prices. right, bruce? -jealous? yeah, look at that. -honestly. someone get a helmet on this guy. xfinity internet customers, get a free unlimited line for a year when you buy one unlimited line. >> i can feel the winds of change. >> you are used to me being here just on monday nights and special occasions these days, but for the first 100 days of the new administration, i will be here five nights a week, monday through friday, every weeknight at 9 p.m. eastern. which means i will see you back here tomorrow night, 9:00 eastern. we will get through all of this together, you and me. in the meantime, you can also find me on the social media platform blue sky. if you

also this morning some great earnings reports from some of the big names in banking jp morgan chase,re about that in today's dollars and cents. thank you for waking up with us here on mornings on two. i'm pam cook. >> and good morning i'm dave clark. middle of the week. it's wednesday january 15th and pam is just plain cold outside. >> oh, you snuck out. >> it's steve. you said it was. it's cold. >> it might even get colder earlier next week. now, most of the country will be in an arctic plunge here, but some of that might clip back towards us. unfortunately, it looks like another offshore event is in our near future. as in maybe sunday or monday. there's no rain in sight. i mean, this this is going down probably as the third driest january in san francisco's history. unless something gets us around the end of the month. a lot of 30s here. santa rosa 32, menlo park 34. if you get any puff of a breeze, might hold it up a little bit. even concord 30 for that high to the north and then the low, it's all going to be about cold air plunging, though into the middle of the country, the rock

bank of america and jp morgan chase have denied any refusal of service on political grounds. ve more than 70 million clients. we welcome conservatives and have no political litmus test. a statement from jp morgan said we have never and would never close an account for political reasons, full stop. we follow the law and guidance from our regulators and have long said that there are problems with the current framework we must address. we welcome the opportunity to work with the new administration and congress on ways to remove regulatory ambiguity, while maintaining our country's ability to address financial crime. now what i will say, speaking to people about the situation is that there are regulations that basically require the banks to be responsible for anybody, their banking. they are the police, the cops that are on board with this. if you have any questionable behavior, if you have anything that's maybe not completely legal, maybe that's crypto or something else, maybe that has put you in a position where you've had to say, no, we can't do this because otherwise we could

and bank of america is burned down. the chase right down the street is burned down. you flip around it on the other side of sunset boulevard, what you see is the village and by a developer who recently ran for mayor. and it is still standing. it looks untouched. he is getting a lot of attention for pulling and private resources to help protect this property. but it highlights a couple of things. one, the assumption of where the risk is. i have been told that a lot of the insurers and the reinsurers largely put that risk in northern california. they thought that is where it was a greater risk. some insurers may have taken on more risk in southern california then they can actually afford now. we will have to wait and see. second, driving through, what i saw is newer construction, homes that were clearly built recently, many of them withstood flames that even the next-door neighbors did not. what does this mean for communities and recovery and four new building codes? it will be interesting to see whether the local building codes and whether the state building codes com

bank of america. >> and jp morgan. >> chase deny any. >> refusal of service on political. >> grounds, a bank of americaients. we welcome. >> conservatives and have no. political litmus test. >> a statement from. >> jp morgan. >> said, quote, we have never and would never close an account for political reasons. >> full stop. >> we followed the law and. >> guidance from our. regulators and. have long. >> said there are problems with the current. >> framework washington. >> must address. we welcome the opportunity to work with the new administration and congress on ways to remove regulatory ambiguity while maintaining our country's ability to address. >> financial crime. so this. >> important context here is that oftentimes when these big banks shut an account down, they. >> don't give the customer or. former customer in these cases a reason why. >> so it's. >> easy for the customers to jump to conclusions. it's because of their political or. religious affiliation. and oftentimes. >> it has. >> something to do with. >> a regulatory issue that the. >> bank. >> has come. >> across, whether it be in. >> two

banks. boy, did we get a lot of them, four big ones out there today, j.p. morgan chase, wells fargo, goldman sachs, and citigroup. all of them beat expectations, positive story lines pretty much all across the board on the banking side and the capital market side. so, keep an eye on those one and a half point gains all the way up to nearly 7% for citigroup and right now one of the best performers in the entire financial sector. keep it on the big banks, either will send it back over to you. >>> it is day two now a better than expected inflation reports. core cpi in particular, lower than expected. shelter, a sticking point, posting its smallest yearly gain in three years, so does this put a rate cut back on the table? maybe a couple of them and maybe before the second half. let's ask julia coronado, the founder of policy perspectives and senior cnbc reporter. steve, i hate to do this right away, but -- we met two in a row. >> not bad. look at the reaction. what are the odds for rate cuts at this point? >> let's put them up right away, we just refreshed the chart and the

jp moan chase says it made more money last quarter than any other bank ever in all of history, and it gave its ceo a raise $39 million for jamie dimon. that doesn't make him the highest paid banker. financial filings show he's now tied with the ceo of goldman sachs. costco says no to changes in its da programs. areholders voted overwhelmingly to keep da in place. this, according to the ceo, despite outside pressure to end it. apple recently voted against ending da as well. the government. the federal government, though, has suspended workers involved in die programs with pay with the intention of laying them off. it's also warned employees not to hide da programs under other names, and warned employees they must report their fellow workers if they suspect them of working on diversity, equity and inclusion. donald trump signed a long awaited cryptocurrency order at the oval office on thursday. san francisco crypto investor david sacks looking on but the crypto world didn't particularly react. there was not much change in the price of bitcoin. trump, who recently as recently as four yea

jp morgan chase said it made more money last quarter than any other bank ever in all of history, and it gave a raise to its ceo, jamie dimon $39 million. now, that does not make him the highest paid banker. financial filings show he's now tied with the ceo of goldman sachs. costco says no to changes in its da programs. shareholders voted overwhelmingly to keep dei in place despite pressure to end it. apple recently voted against ending dei as well. the u.s. government has suspended all federal workers involved in dei programs and suspended them with pay, but they're going to be laid off. it's also warned employees not to hide dei programs under other names, and warned employees must report their fellow workers if they suspect them of working on diversity, equity and inclusion programs. donald trump signed a long awaited cryptocurrency executive order at the oval office thursday. san francisco crypto investor david sacks looking on crypto world didn't particularly react. not much of a change in bitcoin now. trump, who has recently, as four years ago called crypto a scam, is now callin