by jamie dimon anwar ren buffet.ard from them the companies are they not going to be issuing quarterly guidance at this point? >> we will tell you what they said about that after the break. stay tuned you are watching cnbc. whoooo. when it comes to travel, i sweat the details. late checkout... ...down-alternative pillows... ...and of course, price. tripadvisor helps you book a... ...hotel without breaking a sweat. because we now instantly... ...search over 200 booking sites ...to find you the lowest price... ...on the hotel you want. don't sweat your booking. tripadvisor. the latest reviews. the lowest prices. we welcome back to "squawk box." we were talking about guidance on quarterly earnings dimon chairs the business table. we spoke with jamie dimon and warren buffet about taking the long view. >> becky, i have been on 20 boards publicly owned companies not counting berkshire and i have seen, i have seen managements that i really think well of personally i won't say they married my daughter or were named executors

. >>> warren buffett and jamie dimon is calling for an end to a widely used wall street practice. >>> president trump talking trade with the japanese prime minister at the white house today. >>> carl icahn reportedly building a stake in one well known company. >>> and why an rv maker is sending a warning sign about the economy. it's june 7th and "worldwide exchange" begins right now ♪ >>> we have a great team i was referencing that song about 20 seconds ago you played it, good job. kudos. good morning welcome from wherever in the world you may be watching. i'm brian sullivan we'll try to build this city on the stock futures because if you're getting ready to work, consider wearing a raspberry beret. your rbi has to do with prince, we'll explain. a higher open this morning, not a lot. we're up about 41 points on the dow futures. still may see some gains coming off yesterday's 300 point rally. tough talk on trade. italy's political problems all be darned, looking pretty good for the nasdaq as well also on the rise you have to keep an eye on ten year bond yields once again. because we ar

morgan's jamie dimon calling for guidance on quarterly earnings our becky quick talked to both dimon buffett about taking the longview take a listen. >> the ills and problems of people making short-term forecasts particularly quarterly earnings forecasts, not transparency and not having quarterly reporting and it can often put a company in a position where management from the ceo down feels obligated to deliver earnings and therefore may do things that they wouldn't otherwise have done. so if you have a good board and you have a great investment opportunity and it will cost me another couple hundred million this quarter and someone like warren will say absolutely do it that's future earnings don't hurt your company because you try to meet the short-term things >> this is something you've been preaching about for a long time, too. what's an example of where you've seen it gone wrong? >> i've seen where companies get living by so-called making the numbers they do a lot of things that are counter to the long-term interest of the business, and i've never seen a company whose performance

bullish outlook with two of the biggest names in business and investing, warren buff felt and jamie dimon speaking exclusively on cnbc, their message, the economy is the strongest it's been in years. >> consumers are in very good shape. balance sheet, wages are going up, debt levels are low. all of the credit since the great recession, pristine, other than student lending done by the government more credit, small business credit, large corporate credit business sentiment is almost the highest levels it's ever been. consumer sentiment, highest levels >> right now, there's no question, it's feeling strong. if we're in the sixth inning we have number 3, 4, 5 in the lineup business is good >> what does all of this mean to your money and the markets let's debate with joe terranova, josh brown the brothers najarian are here also liz ann sonders, charles schwab chief strategist. pete, let's kick this around, if we're in the sixth inning of the economy as jamie dimon says what does that mean for the bull run? >> i think the extension past, as most of us are thinking in our opinions it was a littl

dimon id out the reasons why perhaps you should not provide as a ceoh t-term guidance. briefly tell me why you think most companies should? >> there are a number of reasons. firstf all, let m point out that most ceos would prefer to put out asittle information as possible. they would prefer to put out only what's required andotng more, but the reason they give earnings guidance, which is notr re, is because the investors demand the information. and investors are telli corporations that if you don't give me earnings guidance, if you don't disclose the informion, i may not pay as much forour stock. and that's the same thing as cost that the company' of capital goes higher. now this isn't a key issue for a company likeerkshire hathaway who has a star like warren buffet running the company. berkshire hathaway shareholder doesn't really care about guidan r because theylly trust the ceo. this is a more important issue for smaller companies. furthermore, guidance comes directly from the horse's mouth. it comes from the management of the company. if management stops giving guid

morgan has the morning off big interview of the day, buffett and dimon speaking with our own becky quicknd how it could lead companies to make poor decisions to satisfy shareholders >> you can change exposure by making a phone call, do some swaps and hundreds of millions of dollars revenue a lot of people cut marketing. that's one of the easiest things to cut. >> right. >> you can pay people left it's like airplane maintenance you can reduce airplane maintenance but it's a really bad idea. >> yeah. >> yeah. tell me if you're doing that any place. >> covered a lot of ground big op-ed in the journal about this corporate guidance theory they're putting out there. along with other comments about the economy, the consumer, the markets, the euro, trade and a lot more. >> so much there i really think this issue of short termism is something i hear a lot about on the west coast. bob iger doesn't provide quarterly guidance for disney. whenever we report the result compared to expectations, he says what are these based on he says we're managing for the long term. and deciding to buy something like

dimon.g us with exc details on two big stories charlie gasparino. what are you hearing about this? >> sherra let's put the letter in context. e critique and the criticism of using quarterly guidance and wall street and investors a word about the next quarter and the notion of short-termism is not a new concept. in the game so you have to asksg about this three years ago in a big way. you have to ask yourself what motivated warren buffett articu? he is not at the end of his career. warren buffett is at the end of his career. what would motivate him to bring up this old subject and what i'm aring from friends close to jamie what they are telling me is this is the first step, the first fairly public step in putting it out there in a way th him for post jpmorgan career in politics. i asked these friends, how do you know back? they say because it comes up time to time in conversations with mr. dimon. he is not tonight is looking for politics is thet step to the post jpmorgan -- jpmorgan career. b

you shouldn't been a it. >> and that's what buffett and dimon have said.ding ceos move away from it. >> for ones it is harming the culture, maybe they have the backing now of two high profile guys saying, you know, i think j.p. morgan should get rid of it them if dimon. >> right don't want to play along. >> get rid of it. >> and j.p. morgan has analysts who probably rely on it. >> very much. >> there are ideals and there are pragmatic issues. >> that's it for "closing bell" today. thanks for joining us everyone "fast money" begins right now. >>> "fast money" right now live from the nasdaq markets over looking new york city's time square. melissa lee. tonight on fast is bitcoin finally growing up there is one major sign it is reaching adulthood and top technician says as the bullish signal for the crypto universe he'll explain. and jamie dimon and warren buffett teaming up, calling for a big change for wall street one trader says it would be a disaster for companies we've got the details. first we start with a brazilian bomb shell check out the etf in

dimon adding his heart goes out to those impacted. separately, microsoft's ceo, satya nadella sending a letter to his employees calling the poliicy abhora nshgabhorent andl big business again weighing in on these particular issues we'll see how that moves going forward in today's trade and everything else that develops with border policy. >>> the president is scheduled to meet with law makers this morning at the white house tracie potts is live in washington with what to expect good morning >> good morning. expect more talk about what the fix is going to be and one of the issues here in washington is that critics say the president caused this problem with his zero tolerance policy. they think he can fix it on his own. he's pressuring congress to do something. that fix includes billions of dollars for the border wall. votes could happen this week on two laws that would end separating migrant children from their parents. >> we'll try and see if we can fix >> mr. president, i'll lend you my pen, any pen, you can fix it yourself >> presid

. >>> warren buffett and jamie dimon are teaming up in a tv first, our u.s. colleagues will speak to the sage of omaha and jamie at 12:00 p.m >>> good morning, again. welcome to "street signs." we were just talking about the delayed open of the ftse 100 you can see it's just opening up behind me about 40 points higher, about 0.5% roughly we have got a bunch of stocks going -- so that's taking off about ten points from the overall composite. but as you can see, the ftse 100 is starting off on a firmer footing. let's switch and talk about the action in europe this morning. of course we did have a stronger session in asia as well saw a bit of a bounce as far as the asian equities were concerned. this is seeping into europe as well u.s. we're talking about the dow breaking through 25,000 and of course this is beginning to impact european equities trading too. we were talking about the ftse 100. a bit of a delayed open but you can see that across the whole boards, everything is trading in the green. ftse also rebounding somewhat today, up 175 points 8% i want to p

morgan should get rid of it them if dimon. >> right don't want to play along. >> get rid of it. >> and j.p. morgan has analysts who probably rely on it. >> very much. >> there are ideals and there are pragmatic issues. >> that's it for "closing bell" today. thanks for joining us everyone "fast money" begins right now. >>> "fast money" right now live from the nasdaq markets over looking new york city's time square. melissa lee. tonight on fast is bitcoin finally growing up there is one major sign it is reaching adulthood and top technician says as the bullish signal for the crypto universe he'll explain. and jamie dimon and warren buffett teaming up, calling for a big change for wall street one trader says it would be a disaster for companies we've got the details. first we start with a brazilian bomb shell check out the etf in brazil. ewz getting crushed. at one down as much as 8% as the country deals with the economic turmoil ahead of its elections here why it matters for your money. the u.s. and e emerging markets of which brazil is a big part have moved in tandem but the last three

and don't miss warren buffett and jamie dimon. it's the first time they've sat down together for an interview don't miss it tomorrow at 6:00 a.m. eastern on "squawk box. directv now gives you more for your thing. get all the good stuff about tv without all the bad stuff. yes! you can still stream your favorite shows. yes! with no annual contract. wait, what? it's live tv. yes! with no satellites. what? and no bulky hardware. no bulky hardware! isn't that great news? yes! nooooo! nooooooooooo! try directv now for $10 a month for 3 months. more for your thing. that's our thing. visit directvnow.com what do advisors look for don't just track an index, help me meet a client's need. is the fund built to sell or built to last? etfs are only part of a portfolio. so make it easy to explain. give me a quality fund that helps me get clients closer to their goals. flexshares etfs are designed and managed around investor objectives. so you can advise with confidence. before investing, consider the fund's investment objectives, risks, charges

as jamie dimon makes headlines of his own. >> the eu response has been overnight, responding firmly tosident trump's tariffs, saying that the eu offered dialogue but now we're not going to enter into any negotiations ft meantime, president macron of france told president trump in a phone call last night that the u.s. actions were tantamount to and would take matters in their own hands and respond in a firm m manner jamie dimon at a conference moments ago. >> it's going to hurt sentiment. it's badly thought through it's not strategic there are legitimate complaints about trade but this is not the way to go about it you see it in the market. >> that said, outside of trade he remained optimistic on the economy, saying we're only two-thirds of the way into the economic cycle he touted a golden age for banking but warned of competition from china jm morgan still down week-to-date. >> calling this a trade war yet? >> i think people have tried to step back from that. you heard cecilia maelstrom try not to use that term and a swipe toward the president, saying that the u.s. has gone to protect

that was after the financial crisis the ordinary person who was not warren buffett who is not jamie dimon who is not lloyd blankfein the ordinary person the only debt they could access was from the government and student loans in the form of student loans there were also no jobs going around so you might as well go and get real. educated and learn a new skill and go back to university so a lot of people when everybody went that's been degraded by the way they're all sorts of big names now telling you that it's not actually worth. college degrees no longer worth the debt load anymore but nevertheless people can access that debt and then continue to feed themselves and house themselves using their student loans for the last few years well now they have a huge pile of debt right and that's with interest rates at historic lows you know the curve starts zero and it extends on the zero line for a few years and then none so you get to the fifteen to twenty year to start to kick up and then you get into what we call interest rate apartheid if you're on a student loan or a credit card loan it goes

jamie dimon had a very close relationship in the beginning of the trump administration up until aboutry, i would say. what we understand is that relationship has cooled primarily over trade. they haven't spoken since february. there's essentially a quarrel between the top business leaders in this country represented by dimon, the business roundtable and president trump over this tariff business. now the president may walk away from it and not do these tariffs and carrying a big stick and not going through with it, but i can tell you right now jamie dimon and president trump have not spoken since february. one of the reason why is the relationship has cooled over the trade issue and he's essentially alienating, i would say, a pretty important bloc here for republicans going forward. if you want campaign contributions, this is where the money is, and it's over trade. neil: can you argue, he's one to complain with a tax cut that made him a gazillion dollars. where is this going, the trade thing? it is supposed to produce the results, you don't need to actually have them. >> exactly right

wairn buffett and jamie dimon talking about the end of quarterly reports. of that short-term guidance we'll get their reaction to what buffett and dimon said next. let's begin. yes or no? do you want the same tools and seamless experience across web and tablet? do you want $4.95 commissions for stocks, $0.50 options contracts? $1.50 futures contracts? what about a dedicated service team of trading specialists? did you say yes? good, then it's time for power e*trade. the platform, price and service that gives you the edge you need. looks like we have a couple seconds left. let's do some card twirling twirling cards e*trade. the original place to invest online. >>> there's no question in my mind that america will be far ahead. >> this number is the lowest it's been in 40, 50 years. sometime later this year, it will be the lowest ever. it's easy to change the >>> all right, everybody welcome back time for the executive edge. yesterday, in a squawk box exclusive, warren buffett and jamie dimon made the statement against corporate guidance >> we have been pushin

came in about it keeping inventory and liquidity under balanchine they decided you know what jamie dimon needs another billion dollars lloyd blankfein even though a billion dollars so we need to roll back those regulations so it could be even less own their books in a low energy economy even more and anyone protests with a populist a political uprising the market tells us that there must be cures disabuse of this notion this is market fundamentalism you know how different the saudis is what is going to be fair my personal opinion about those regulations is that we didn't need any new regulations because what the banks did was already illegal to smash and grab assets from individuals and pension funds was against the law i believe and they created these new regulations and in order to pretend to the population that something was being done and that this that what happened was so unique and new and not and had never been known before but it was simple old fashioned crimes of finance so that was just a distraction but i do believe that those regulations did have an impact particularly on sm

this week a survey was released that showed ceo optimism is near historically high levels dimon thinks it's about the of the talk about trade and tariffs. all of that noise that's been coming out of washington recently. >> we did another special survey 90% are worried about if trade goes south, they'll invest less. we're trying to be very clear about this we think the president has raised critical issues about trade, particularly with china around fair competition, market access, the ability to own 100% of a company these things should be negotiated out and the business round table supports the fact of those issues the business round table has been clear we don't think the tariff is the way to do it you hurt your allies more than you hurt anyone else people tend to retaliate you can insight nationalism in countries because if we're not going to be tough on each other, if you put a country in a tough position, how it might react it creates potential negative outcomes we're cautious about doing it that way china would be very responsive to some of those issues. that's what we're pushing

the head of the roundtable, jamie dimon saying president trump's trade policy is the fly in the ointmentc recovery. our next guest agrees. he says financial markets have little room for error here. joining us now, chief investment officer, gene goldman. gene, we think there are safe sectors. what are ones you say are safe, not safe, and what are the secret safe ones if what jamie dimon and roundtable is true. >> liz, great question. you look at business cycle. you do feel it is a little extended but good news about the business cycle is the fact that it is not like traditional business cycles in the sense that you have both rising rates and rising earnings, most business cycles end with rising rates and rising earnings. markets have done very well last i' fan of history. like fdr once said, calm storm never made a skilled sailor. so things are changing. market volatility is incasin dramatically. melissa: okay. >> what would you suggest as being out of these unsafe ors. unsafe sectors, consumer staples, telecom, media. melissa: those are everyone of the things that are safe, but they're n

business roundtable ceo josh bolton and chair, jpmorgan's jamie dimon, told reporters they'd advise the white house against tariffs and protectionist policies to no avail. 132 ceos rponded tthe survey during the middle two weeks of may when the white house was negotiating trade deals on nafta fricascreased intwo fronts w the weeks since. the u.s. may pursue separate deals with canada and mexico to replace the cut trilateral deal and a white house team in beijing reportedly rebuffed an offer from china to buy $70 billion in u.s. energy and crops. here's white house press secretary sarah sanders. >> our focus is on making sure we get good deals. i'm not here to make an announcement on what those look like, but he's going to push forward to make sure he gets the best deal for american workers. >> a campaign promise turning into a "c" suite headache. kayla tausche, cnbc business news, washington. >>> a fly in the ointment that could end the recovery that's what jpmorgan's jamie dimon thinks about trump's trade policies head to cnbcor more on what ceos think about current trade tensions and

rays destroy the dimon in the body that is important to subdivision for example during prenatal developement. up in the high north because u.v. radiation is so much weaker than in africa people of volved tower pale skin with less melanie. because the body also needs u.v. rays to produce a good minty it plays an important role in building bones and helps ensure the immune system works optimally. if outlet is read write up a latin and you have a question then just ask in return will things you a small surprise send us your question by video text message over or still we love to hear from you. you'll find us at d w dot com slash science or drop us a line at. under school site tech on facebook sites. easing habits have changed over the centuries but even ancient romans had fast food from snack bars called thermopolis they sell hot food for a quick bite while out and about modern fast food came in with the advent of twenty four seventh's society it's changed our eating behavior now we often snack our way through the day that might be practical but it's not always healthy. alexander theatre was on

it to the euro to some extent, but, no, it was a good close all things considered you covered jamie dimon in the past, and i think one of his comments considering which bank he runs and how banking fits into the u.s. economy's transmission, that his comment on taxes is huge i've talked about it many times. we all understand the relative value trade. our interest rates are tied to overseas rates developed economies. call us a relative valuable tax trade. it's important because keith and doug pointed out, structural issues in italy and the politics have not gone away, okay but there's more pressure on all their leaders in brussels and head of their ecb in the form of mario draghi because part of what makes the economy grow here is what was done with taxes, and that trade is going to put much more on them to form new business with lower taxes, but it's all coming a time where politics and their economic fundamentals against their policy of their central bank is probably way off course. these are huge it's a big positive for our economy and our markets. >> yeah. i'm looking here, doug, turns

jamie dimon mentioned it.ess people don't like uncertainty and they certainly don't like trade wars. there is nothing any of us have studor learned that says tariffs are good. all yoarn fro1 forward is that is what caused the great depression is combative tariffs. it is always bad for every country when you do that. you are not helping anything when you do it. there are sometimes offenders, governments that subsidize an industry and you need to target those. there is no evidence that this is specifically targeted for wrong doing. >> next co released its own tariffs on u.s. exports today, on agriculture and steel products including american pork. does this have the potential and are we there yet to negate all of the positive impact for corporate america as a result of the tax cut? >> i don't think it negates all of it. we don't wt to start a trade war. i think president trump will back off. the farmers will be hurt, a lot of people will be hurt. i want to go to another issue closely related. there are more jobs

everybody, i am melissa lee, we begin with trades and including some critical comments with jaime dimon cayla tausche is live with that. >> the business roundtable conducts the quarterly survey and held by bush 43rd chief of staff, josh bolten and jaime dimon. the white house did not respond to a request for comment bus defended trump's trade positions in two ways. they're apart of the campaign and business friendly lobbies are apart of the problem here is robert lighthizer testified in march >> we'll have different policies and what have gotten us $800 million trade deficit we'll have a different result if we do exactly the same thing, nothing is going to change >> dimon says the trade benefit m may benefibusiness there is some news in nafta with larry kudlow suggesting that the president may be seriously considering two bilateral deals with canada and mexico the white house says it is something they are considering than nothing has been decided. back to you. >> we'll watch on that one, cayla, thank you. >>> out going starbucks chairman ho schultz are weighing in on "squawk box" this m

well let's check in on the markets with jenelle dimon out of the final so he's change general marketreaction has been pretty mild is from teaching markets to take it on the chin well mostly i think he's taught them to be unsurprised when he reiterate signals that he's already made now markets have been following this trade saga since the beginning of the year when he first impose tariffs on solar panels and washing machines then that was followed by the steel the louvin tariffs and he's indicated that he was going to go after european car makers so that's where we still are that's also worth noting that markets are looking towards a market moving week anyway following the g. seven summit they're looking towards north korea summit today and tomorrow on wednesday they're expecting a rate decision from the u.s. fed and on thursday a monetary policy update from the e.c.b. now those could do more to affect market sentiment but it's an exciting week ahead for the the markets but these markets go up and down day but trumps agenda could fundamentally change global trade as we know it especia

in about it keeping inventory and liquidity on your balance sheet they decided you know what jamie dimon needs another billion dollars lloyd blankfein even though a billion dollars so we need to roll back those regulations that could be even less on their books in a leverage economy even more and of anyone protests of the populist political uprising the market tells us that there must be cures disabuse of this notion this is market fundamentalism you know how different the jihadi is this market is yachties and something to be fair my personal opinion about those regulations is that we didn't need any new regulations because what the banks did was already illegal to smash and grab assets from individuals and pension funds was against the law i believe and they created these new regulations and were to pretend to the population that something was being done and that this that what happened was so unique and new and not and had never been known before but it was simple old fashioned crimes of finance so that was just a distraction but i do. believe that those regulations did have an impact

imma start off with henry kissinger quote he says that dimon is ation of lattimer putin is not a policy it's an alibi for the absence of one g. agree with him yes yes yes is there a coherent policy line on russia in washington there are seven or eight coherent lines but all together they produce incoherence by that i mean the congress thinks it knows what it's doing there are some individuals let's say the department of defense who have one orientation in the state department which is a revolving door who have another and so on no a coherent administration line has not emerged because they're fighting internally because trump started off as a pragmatic question complainer right he wanted to make good with russia but then they stopped wishbone tat his hands does this mean that the american line towards russia is pretty termite no matter who the president will be no no this is and this is unique with trump no tied his hands in particular because the pass this legislation requiring sanctions right and. that is certainly tied to trump personally because of the suspicion that he colluded wit

florence and then expanded their power across europe they installed family members and as like katherine dimon in france the queen of france the pope's in italy. you know they became powerful in the first half of the fifteenth century because they were a banking family who were first to really use the power of double entry bookkeeping so they were the ones that became very powerful from that which is interesting in today when we have big queen and triple entry bookkeeping so they became powerful through that they brought us the likes they were patronage of the arts they had some from davinci to raphael they financed these guys so you know they did bring us some good stuff but the warning on it is coming up really they were fantastically wealthy at the time and what happened well america the media cycle in the corporate powers and politics a recent paper by luigi zingales of the university of chicago titled towards a political theory of the firm deals with the issue of rent seeking behavior by monopolistic firms through political influence neoclassical theory assumes that firms have no power of

lost came in about it keeping inventory and liquidity on your balance sheet they decided no it jamie dimon needs another billion dollars lloyd blankfein even though a billion dollars so we need to roll back those regulations that could be even less on their books than a low energy economy even more and of anyone protest with a populist political uprising the market tells us that there must be cures disabuse of this notion this is market fundamentalism you know how different the jihadi is as much as yachties and something to be fair my personal opinion about those regulations is that we didn't need any new regulations because what the banks did was already illegal to smash and grab assets from individuals and pension funds was against the law i believe and they created these new regulations and were to pretend to the population that something was being done and that this that what happened was so unique and new and not and had never been known before but. it was simple old fashioned crimes of finance so that was just a distraction but i do believe that those regulations did have an impact p

investment guru warren buffett and bankerjamie dimon say quarterly reports encourage a short—term outlookmy. they made their appeal in an opinion column in the wall streetjournal. they say it also europe's big five football leagues generated a record 14.7 billion euros in revenue in the 2016—17 season, up 9% on the previous year, according to new figures from deloitte. deloitte said the financial results reflected a new era of improved profitability and financial stability for european football clu bs. let's go to sydney now where the airline industry is holding its annual gathering. guess who is there? i can't guess. the wonderfrom down guess who is there? i can't guess. the wonder from down under! aaron heslehurst has been speaking to one of boeing's senior executives. he started by asking about the damage done by the change of us policy on iran, which was due to buy 80 boeing airliners worth billions of dollars. when it came to iran, we were always in a position where we were following and letting our government take the lead and when it came to booking those orders, to taking a look w

that was after the financial crisis the ordinary person who was not warren buffett who is not jamie dimon who is not lloyd blankfein the ordinary person the only debt they could access was from the government and student loans in the form of student loans there were also no jobs going around so you might as well go and get real. educated and learn a new skill and go back to university so a lot of people when everybody went that's been degraded by the way they're all sorts of big names now telling you that it's not actually worth. college degrees no longer worth the debt load anymore but nevertheless people can access that debt and then continue to feed themselves and house themselves using their student loans for the last few years well now they have a huge pile of debt right and that's with interest rates at historic lows you know the curve starts zero. it extends on the zero line for a few years and then none so you get to the fifteen to twenty year to start to kick up and then you get into what we call interest rate apartheid if you're on a student loan or a credit card loan it goes li

the on: can i sit to the budget amendment -- can i say to the honorable dimon, i offer my considerable condolences to those who have pain.ed from cannabis has a potential to help, and i recognize that people suffering from these find helpld like to for these issues. are to make sure that they in short of their efficacy and safety. my right honorable friend, the home secretary, announced yesterday a two-part review, we need to look at this carefully, and that will be a review by chief medical officer, followed by a review by the council on the misuse of drugs. . my right honorable a friend is also acting to set up a council of the nations can advise ministers on any applications of cannabis medicine. twoast saturday marked years since the murder of our colleague, joe caulks. though she is -- jo cox. her legacy still lives on through the work done in her name. the work covers many issues including loneliness. could i welcome yesterday's announcement on a 20 billion onnd fund -- 20 million fonts to combat loneliness and will my right honorable friend join with me to praise community group

beyond china, we have heard from the likes of jamie dimon saying he thinks that despite the moves beinged, it will help to educate people about chinese docs. we spoke to james gorman who said this is positive and would closely or more closely integrate the chinese market with the global market. he saw that as something to take in terms of a positive good so far 234 shares included in the market.ye -- msci it is a further move again toward integrating china's market. it is the symbolism as much as anything else at this stage. >> spanish lawmakers have voted their are mere. there was overwhelmed with the corruption revelations. >> spain is out with the old and in with the new. the prime minister no longer prime minister. he has been ousted from office. no prime minister has ever been unseated by parliament, now he has gone and we have a new prime minister. the country taking a turn to the left. a socialist government in life and a new prime minister. ♪ >> case than right on china. the message was about the central issue of our time is the relationship between china and the united states.

jamie dimon and jeff bezos back in february starting to take shape.he power trio are now saying that dr. atul go one day, will leave the company as its chief executive. also a best-selling author and founder of an american mind. no further plans for the unnamed company. gerri: i can say this guy is well regarded that they are very excited about this. he's not a fan of all the money sloshing around in health care. the question is how do you do it. he says you've got to get the health professionals in the mix to bring those costs down. tracee: i agree with that. gerri: sales from drinks at starbucks are down 3% a year ago. consumers are thinking twice about downing those extra sugar and calories. kevin johnson raised an issue to investors that analysts say it may also be the high price of the drink as well as competition. coming up, elon musk seeks revenge on the tesla employee says try to sabotage the company. president ronald reagan suddenly found a star. details on who landed the role of the gipper will have them. u.s. stock index futures now. let's

. >> on stuff on trade, there is a battle brewing between jamie dimon and the president on trade.re once best friends. right now, rift. liz: you will have that tomorrow, we're at session highs, 312 point to the upside. stay tuned. we're coming right back. ♪ we came with big appetites. with expedia, you could book a flight, hotel, car, and activity all in one place. ♪ touch shows how we really feel. but does psoriasis ever get in the way? embrace the chance of 100% clear skin with taltz. up to 90% of those with moderate to severe psoriasis had a significant improvement of their psoriasis plaques. most people were still clearer after one year. with taltz, 4 out of 10 even achieved completely clear skin. don't use if you're allergic to taltz. before starting, you should be checked for tuberculosis. taltz may increase risk of infections and lower your ability to fight them. tell your doctor if you have an infection, symptoms, or received a vaccine or plan to. inflammatory bowel disease can happen with taltz, including worsening of symptoms. serious allergic reactions can occur. ready

it's in the hands of the german people some of the farmers and their owner is in dimon this only what animals they will only received once when we come two hundred joining us in what we're up as a let me to have a fire my own please the firm would have a did not buy when was the going to be by force with also get everything in sight now is the only thing whatever i want to do with the thing then i have two requests for that i have to buy for them at in the government at the moment the ed clegg fabricate when they are eighteen when people are demanding they are coming up with we want to do this in this in this so the the it's a time bomb and then know that many here young people are saying we need to join this group because they are talking about lent and we are seeing lent is what we have been dropped off by the germans and if people also start getting into the farms of the germans i don't know how they have brought us in says that's when the it in berlin even jim is that feeling unsafe in the media i don't know how it will affect. the millions of development eight that the gym and go

areen buffett and jv dimon warning on earnings guidance.ll street journal and say the quarterly earnings guidance leads to an unhealthy focus on short-term profit at the expense of long-term strategy. in germany, signs of an economic slowdown may be getting worse. factory orders unexpectedly fell for a fourth month in april, declining 2.5%. orders from the eurozone plunged 10%. that is your bloomberg business flash. tom: thanks. a sane now have conversation about the emotions of the market. i want to bring up this chart. lot in this chart a february and march. it is the emotion we all lived through in february, the big and, then we tapered out stayed above the iconic 200-day moving average. they said it in february. they said go to cash. case that cash isn't the place to be. >> there are several reasons. one is the availability of good yields. what i mean by cash is someone leaving money in their bank account or brokerage account. lots of short-term opportunities to make 2%, 3% and the u.s. dollar, but you're talking about why they should s

jamie dimon hinted at higher prices he was not as anxious to buy the stock. >> right >> he came throughrn so that makes his 3450 he paid after the whale trade in '12 and $53 on the jamie dimon bottom, getting a lot better dividends >> these numbers we see coming through in terms of citi, jp morgan yields, that put together the fears for sachs and stanley? >> just shows the industry's healthy, and, you know, they have a lot to pay out. i think this is a goldman thing that will be resolved, morgan thing resolved, and does not need to be done in public like this like high school never ended or something, but end of the day, economy's healthy, and that's why the economy's healthy, and one is leading the other, i think the banks -- this -- i come back to the comment before about is this something that has been good or bad for the economy since '08? fed came in, quasi-nationalized the companies, they continue to do it, it's helping the economy, keeping wall street open, rates low, money is flowing, unemployment -- and because of that, unemployment is low, market's doing well, and so i think i

howard shultz, jamie dimon, mike bloomberg.d of people to say, hey, he won and i can win, we're going to dramatically open the pl of talent for people to become president and by way, that's good. one of the problems we've had in america, we've surrendered the right to run for president to a guy that was a senator or a this or a that the or the other thing and they've not done well for us trump to me is a very simple statement. the american people something very dramatic in electing him because they're fed up and they're disgusted and they're disappointed and they're frightened and he tapped into that. people want to beat trump, go out and ask the people that voted for him. maybe. i feel positive that somebody like howard shultz may be considering running for president. can only be good the more talent we get in the pool, the more like lie we alyeo ha >> people think it's easy. the rock might run and kanye west might run and, you know, oprah might run and jamie dimon might run. those are all talented people, but repeating what t

dimon said his heart goes out to those impacted satya nadella sending a letter to his employees callinghe policy abhorant and cruel. let's get to washington for more on president trump's trade agenda kayla tausche has more >> immigration is engulfing the focus of the white house now and today it will continue its sales pitch on zte with republican lawmakers midday many of whom believe zte is a national security threat despite the administration securing a deal to enforce some new restrictions on zte but overall restore its business more than a dozen lawmakers plan to attend. the senate overwhelmingly approved a measure that would limit the president's dealmaking ability. the white house still hopes to remove that provision as the bill goes forward. today the commerce secretary will be on the hot seat on capitol hill defending the administration's strategy to impose tariffs on a national security basis orrin hatch convened a hearing on the topic after ross began investigating autos and auto parts. hatch saying he believes the strategy undermines the success of tax reform. questions will

beyond china, we have heard from the likes of jamie dimon saying he thinks that despite the moves beingelatively limited, it will help to educate people about chinese stocks. we spoke to james gorman yesterday, who said this is positive and would closely or more closely integrate the chinese market with the global market. he saw that as something to tick in terms of the positive so far. we are talking 234 shares included in the msci market. they are taking 5% market cap from those. it is a further move again toward integrating china's market, the second-largest equity market, as you said into the global financial system. it is the symbolism as much as anything else at this stage. >> spanish lawmakers have voted to oust marciano rajoy. this means that he was overwhelmed by the drumbeat of corruption revelations that have gone throughout his seven years in office. >> spain is out with the old and in with the new. marciano rajoy is no longer prime minister. he has been ousted from office. this is an unprecedented move in spanish politics. no prime minister has ever been unseated by parliam

he is the italian jamie dimon. like being called italian. >> he is swiss italian. tom: thank you so much. bomberg daybreak. this is bloomberg. ♪ >> this is bloomberg surveillance. let's get your bloomberg business flash. the u.s. has asked saudi arabia and other opec members to boost production. the trump administration wants another million barrels a day to be pumped. gasoline prices have hit their highest level in three years. president trump has publicly complained about opec and rising oil prices. the visit -- the biggest maker of semi conductors for smart phones has come up with a new chip for person or -- for personal computers. qualcomm is trying to get its mobile technology into the computing market dominated by intel. insurance company cigna says it is exposed private information for some customers. the company is not saying how many people are affected. the ceo explains how the company reacted. asia, and operational change, a coding problem beinged in some data revealed. external auditors brought in credi

. >> i wanted to ask about the relationship that you have, you know, famously with jamie dimon in the someone we know well on this channel he presented at a barclays conference late last year, and when you introduced him, you described him as a, quote, deeply special frid and arguably the most important and respected leader of a financial institution in our generation. i guess the strength of those words surprised some people given that it was felt, at times, the two of you may have gone through a more frosty relationship, and i wondered if you could talk us through the highs and lows and how you are pleased now to be back in the position where it is, indeed, a positive relationship. >> you know, as an education for me, you know, now as ceo of barclays to watch how he navigated the financial crisis and commanded, what jpmorgan was doing, so involved with the regulators, how they would treat it, it was a real lesson in leadership, and to be on the operating committee and close to his side during that was a great education, was a great education for me i left the bank. now i got the opp

you just heard chris mention the tariffs, that is a concern, it's a concern to jamie dimon who came out today and said this stuff is not good. >> yeah, no, i am concerned about the international situation. i'm concerned not for the tariffs in and of themselves, but if we see retaliation from our trading partners, the u.s. retaliates against them, i think there is the potential for a trade war that i think would be very damaging to the global economy but also to the u.s. economy. it's important to reduce trade barriers, but at the same time what we don't want to reduce is the international flow of goods and services, and i think that would be detrimental for the u.s. economy. liz: tim, before we go, this morning before the jobs report came out at 8:30 a.m. eastern, futures were up, but they started to spike after president trump put out a tweet basically saying, hey, hope everybody sees the employment numbers at 8:30 this morning. that could have been interpreted, certainly, as a signal it would be a very good number. the president and all presidents get these numbers beforehand. what we