francine: thank you so much, david solomon. i want to talk about your music, but another time. d: happy to be with you. jonathan: francine, thank you. some of our audience may be happy that we are spared the music talk. goldman sachs up 57% year to date. well, did that bank execute in the last quarter. tom: they knocked it out of the park. i wish there had been more on the financial aspects of goldman sachs, particularly retail banking. can the transition journey and the pr talk of cop 26, i want somebody to show me evidence of successful carbon pricing. i have asked about this before. i agree it is key, but i am looking for a carbon pricing that actually works. jonathan: i will keep looking. i cannot find it. let us talk about how orchestrated that meeting will be. we get diplomats together, the hash something out, we have an agreement before they technically have an agreement. this time around, it seems like a struggle to agree on anything. tom: that kickoff is like davos on steroids in terms of pr messaging. we will hear the word journey 472 times. i would focus on the idea t

we will see what that means in terms of david solomon's plans for compensation at the end of the years pay for performance and his folks have done very well. and hiring as well. we talked to james gorman yesterday. they are hiring, and goldman sachs will be saying the same thing. alix: people on the street, do they think that this is the top for these guys? the best news is priced in? sonali: there is a real worry about that, but volatility is not always a bad thing. morgan stanley said fixed income was weaker mostly because credit spreads were tighter. a little bit of trouble might not be such a bad inc. for some of these businesses. we know that underwriting has continued at a fast clip. their clients, both are huge bankers to the private equity industry, which is sitting on so much dry powder. guy: what is the key question? sonali: comp. at this point it is about talent, to your point. the numbers are good, let's see if it can continue. guy: thank you for spending time with us. her interview later today with david solomon, the goldman sachs chairman and ceo, will be a must watch he

i just spoke to the goldman ceo david solomon among the speakers here.nd former president george w. bush, ll cool j, and so much more. we have a great show for you. we will be joined by reid hoffman, the cofounder of linked in, and kate writer and a number of exciting entrepreneurs. i want to kick it off with the goldman sachs cohead of investment banking. take a listen. >> it is unique to us because this is a conference that is designed to celebrate, to promote, to foster entrepreneurship and innovation. we do dozens of conferences every year. and they tend to be aligned around industries. you have probably been to some of them. this is different in the it is industry agnostic. it is size of company agnostic. it is designed to get 100 or so private company founders and ceos together to talk about the common issues, the common challenges of building a businesses and best practices around building a business and the energy you get when you bring together the group of entrepreneurs in a setting like this for two days to talk about topics is fantastic. i ho

the ceo of goldman sachs, david solomon, talked about these issues. we can play that. take a look. vid: there is real wage inflation across all aspects of the economy right now and certainly, because of supply chain strength and other inputs, a variety of products and services. i think this is something to watch closely. it is not baked in the cake as to how it will play out and whether or not it would be a significant issue as we go forward. it is definitely inflation. ♪ mark: the justice department will ask the u.s. supreme court to lift texas's ban on abortions after the sixth week of pregnancy, setting up a showdown they to determine whether the law stays in effect through the end of the year. last night, a federal appeals court that the law state in effect as the case goes forward. the united states is moving to expand travel options for those who are vaccinated and clamp down on those who are not. starting november 8, the u.s. will open its borders to vaccinated foreign travelers. the measures are the biggest changes to u.s. travel policy since the early days of the coronaviru

this is shaping into not only a different bank under david solomon but turning into a firm that sayswill compete in the businesses they own and that they are new at. lisa: tom said it is goldman sachs versus morgan stanley, how does that stand out? sonali: they are showing that they are going to compete with their rivals. we knew that the prime broker share was consolidating, but this is showing they are ready to pick up clients everywhere. tom: i remember in the heart of the pandemic you had the courage to get into a plane and talk with him. he said they need to enhance the scale paired what will they enhance in 2002? sonali: they are still trading so much more cheaply than morgan stanley. we have seen smaller acquisitions, most recently green sky, adding another lynn -- loan origination, thousands of people in atlanta. they are growing and adding in wealth management where it morgan stanley compete hard. they are looking to gain scale. how do they push in a bigger way and command? jonathan: goldman up in the premarket by 1.6%. an upside surprise. michael mckee, retail sales looking

then, david solomon at 11:45 a.m.s get the first word news, juliette saly's with the team in singapore. juliette: the fda is reportedly planning to allow a mix-and-match approach for covid booster shots. they could act as soon as this week. it is likely to not recommend one vaccine over another but may say it is preferable to use the same vaccine when possible. the modernist ceo told us the company expects a decision soon. >> the authorization of a booster, there is a cdc meeting scheduled this week. i am hopeful that by the end of the week, everything is wrapped up, and by next week, americans will be able to get a booster. juliette: -- free funding to member states failing to adhere to democratic standards. the mechanism could be used against hungary and poland. hungary would forfeit 7.2 billion euros and poland 36 billion. the eu justice commissioner says the legal order could be deployed within days. >> we are trying to build the most possible -- we need to pay attention to offending of policies and the rule of la

tom: we have to talk about the success of david solomon. we sat with mr. solomon at davos.guy was criticized up, down and sideways. keith horowitz says it's impressive execution, as you just mentioned. they go on price target. 440 up to 480. jonathan: it is too easy to say the environment changed. they were beating estimates last week by one billion plus. yes, the rest of the street did well with equity trading revenue. fred goldman executed at a much higher level. lloyd blankfein waiting around for the business to turn. tom: i'm not going to criticize anybody. james dimon said two or three years ago, this is just hard work. solomon has been a piÑata. he nailed it in this great environment. jonathan: you know what happens now? there are some people at that bank that want to get paid. tom: five basically think -- we will talk to sonali basak. i think goldman sachs will buy the hamptons. jonathan: i'm not talking about the analyst class. i'm talking about further up. tom: joining us is adam parker. a very sharp of note here. i love how you say it's about identifying winners a

jonathan: great to hear from david solomon there, sitting down with francine lacqua in london.rom new york city this morning, good morning. equity market up 21, advancing 0.5 percent. there's a lift. four days of gains on the s&p, the longest winning streak when back to august. yields are lower by a basis point to one point -- to 1.80% -- 1.5880% on tens. up $0.60 on wti on the session. tom: whether you own or rent, housing data, we see that in 12 minutes. we go on to other housing data. all that matters is oer. linzie p aqsa -- lindsey p iegza joins us, chief economist at steeple nicholas. what is -- at stifel nicolaus. what is oer, and what does it mean for our viewers? lindsey: it is the fed's attempt to stake rising prices, essentially trying to capture overall shelter costs. for the fed, this is creating somewhat of a conundrum because we have seen oer on the rise, and the fed continues to tell us this is part of that transitory component of inflation. tom: ok, stop there. how in god's name is rent transitory? lindsey: rent itself they are not saying is transitory. consume

shery: david solomon on the chair dashed on the trends he is watching.ur next guest says she's optimistic supply chain disruptions will not derail u.s. earnings recovery. let's bring in the ubs managing director. how do you get exposure to this recovery when at the same time we have so much uncertainty? xi: there's always a lot of uncertainty in this market. we have strong earnings this week and we just want to keep our investors invested and focus on areas that could be potentially affected and some of our concerns right now, two major ones are inflation and energy but we see there's going to be continued upside in energy and with inflation, we hope that's going to come down toward earlier next year, spring of next year as the economy begins to normalize more. shery: some have said cryptocurrencies could be a hedge for inflation and we've seen the first launch of the first bitcoin etf in the u.s. what do you make of it? xi: we are excited about the first etf for bitcoin but we tell investors to be very cautious with that. it's for highly speculative cli

haslinda: goldman sachs ceo david solomon speaking with bloomberg's sonali basak.rning calls. sophie kamaruddin is here. more data out this monday showcasing the inflation winds. sophie: in new zealand, you have the markets bracing for further. rate increases they expect the hike to come in the next two meetings. we have 10 year yield raising above 3% in --. in india, hsbc sees that higher oil prices will lead to a hawkish rbi. when it comes to the rupee trajectory against that backdrop, hsbc sees the end of the year at 35.50, lower-than-expected. but that rbi could see the rupee at 33 by late next year, as you can see here. rishaad: what about inflation and what about india? sophie: we have high input costs narrowing the margins for sectors like consumer staples keeping them under pressure there. but we have sequential recovery in that space. at nomura, they do expect the pickup in consumer demand will be going up in peace next year as mobility improves. that should help lift the markets as well as steer the. rishaad: ship toward discretionary buying sophie kamaru

and we look forward to that >> i know you as well to see what is said by david solomon.made more money than they ever had in a full year with 17.7 billion so far in net earnings >> unbelievable. and morgan stanley said yesterday they were 10% ahead of 2019's full year with one quarter to go themselves i think that really sums up what an amazing period covid and the pandemic has been if you've been an investment banker the big question going forward is whether or not the retail banks will start to enjoy a period that's positive for them too. in a way the last year or so hasn't yet a big part of that being rates and loan growth. we got a glimpse yesterday of the type of bottom line reaction you can get if that scenario plays out. those are the three winners. morgan stanley, goldman sachs and bank of america. >>> the president saying a covid-19 vaccine mandate could been the way for a private sector fobuneeseas what does that mn r siss ♪ earl: - hey barista: - good morning, earl! narrator: - since our beginning, barista: - there he is! narrator: - we've looked to inspire an

here's david solomon. >> with respect to the deal activity there's dry powder out there. discall policy environment and the reacceleration of the economy coming out of the pandemic that will run and will watch carefully and will have speed bumps along the way. >> equity revenue 3.1 billion ahead of forecast by a billion and contained financing revenue. asset management came back down to earth as expected after an extraordinary print last quarter. consumer and wealth management gr continues to grow. capital markets driven you keep asking the question how long that sustains and does it get as high a multiple as the more sticky fee revenue ant cannot turn the nose up at the set of result just up a healthy 4% it is built throughout the session. >> dollar for dollar the market is not paying up so strong that it's accounted for in book value. you know 1.4% book is where we trade at right now. at the peak in '06 going two times above book surpassing 20% where we didn't think we'd get there again it's difficult to project. >> one thing about the group today is wells fargo up 6.7%

smart thing to do in the middle of that-- it's like goldman sachs bringing a company public and it david solomon. he would never do that, by the way. along the lines of this because remember amc was one of the stocks that were huge on robinhood and everyone was talking about and here's the president trading it, you know. it's crazy. neil: appearances count for a lot. sometimes even if it's not illegal it raises enough eyebrows. >> senators always get rich. he didn't get charged, but he looked bad and kelly leffler might have lost her election because of that, just crazy stuff and they should be careful. neil: i will let you change back into your leisure suits. charlie gasparino. >> and gold chains. neil: absolutely. some news out of california, gavin newsom ordering: vaccines for all eligible students from kindergarten right through 12th grade. this is the first a statewide mandate in the nation. we will keep you posted. more after this. to run a growing business, is to be on a journey. and along the ride, you'll have many questions. challenges. and a few surprises. but wherever you are on your

goldman's ceo david solomon says this is a new chapter in the company's 17-year joint venture in chinarm is paying to require the remaining 49% stake. a haitian gang is you accused of kidnapping 17 missionaries an five children from the united states and canada, the ohio based organization, christian aid ministries says that the group was abducted after visiting an orphanage. a spokesperson for the state department says it was aware of the reports and that, quote, the welfare and safety of u.s. citizens abroad is one of the highest priorities of the department of state, unfortunately there are still thousands of people behind enemy lines in afghanistan. that the state department is aware of. time for the word on wall street, top investors watching your money. joining us now chief investment officer nancy tengler, chief strategist katherine rooney vera and michael lee. katherine, want to look at oil prices extending their run, both brent and west texas crude hitting multiyear highs, some traders are betting on brent hitting $200 a barrel by december 2022. your thoughts and the impact on

david wasserman of the cook political report, james barragan of the texas tribune and joshua solomonk about the redistricting process for u.s. house races in texas and new york. >> currently there are about 334 united states that is according to the 2020 sexist figures. they are represented in congress by two senators from each of the 50 states and 435 members of congress. that 435 number has been set by law since 19209. now, with the new census figures at which take into account the population growth in the united states and geographical and demographic will changes as well, the every ten year redistricting will start with the new districts will be in place for the 2022 midyear election. some states have lost members of congress new york and pennsylvania are two, while some like texas and florida it gained new members. well, to help us delve into those numbers is dave wasserman of the cook political report, mr. wasserman when you look at the census figures and that redistricting that is ahead, which political party do you see as benefiting the most at this point? >> we are going to