. >>> do we need a world war ii rebuilding plan for energy jamie dimon thinks so. we'll tell you what he's proposing. and apparently diamond hands are forever. shares of gamestop and old favorites are surging once again on this wednesday, march 23rd. this is "worldwide exchange" right here on cnbc ♪ >>> well, good morning, good afternoon, or good even, and as always, welcome wherever in the world you may be watching. i'm brian sullivan all right, let's get right to it on this wednesday morning. here's how money in the markets are setting up your day. stock futures are mildly lower right now, not by much, down about 0.2% across the major indices, this coming off a solid tuesday. the dow, the s&p, the nasdaq all rose in fact, the nasdaq plowing ahead nearly 2% higher oil once again seems to be driving the stockmarket. once again it was stocks rising when oil goes down and maybe vice versa today we had oil drop below 110 yesterday, and stock moved higher, but right now, oil is moving back up it's back above 110, which maybe is why stock futures are lower by the way, s

and a new report from axios says jamie dimon is pressing the biden administration to create a marshall plan for energy details straight ahead it's wednesday, march 23rd, 2022, and "squawk box" begins right now. ♪ >>> good morning, everybody. welcome to "squawk box" on cnbc. i'm becky quick along with joe kernen and andrew ross sorkin. andrew, good to have you back. >> thank you, thank you. did something happen while i was away i heard there was some -- >> in this day and age -- >> there was some news. >> a little bit of news? >> in the ten days or whatever it was, something, i don't know. but the snow was good. they always have good snow. >> snow was good snow was good. >> if there's no snow, you might not have had northeasearly as m news. >> i got tweets from viewers, i hope the market is not going downhill. >> and there's bumps along the way. >> good analogy for this morning too. >> it could slow up. >> watching things this morning we do see a few red arrows not too much to get concerned about at this point. dow futures off by about 76 points s&p down and nasdaq. taking the lifts to

market pro says buyer beware calling this run higher a head fake an energy marshal plan what jamie dimons proposing. as a way to achieve energy security it's a plus and not an either/or. is it the answer we'll explore that issue. >> thank you hi, everybody. stocks in the if e red with the dow down 357 or 1% s&p down so we are below the 4500 number and the nasdaq down 110 points energy is rallying but that ease because oil prices are spiking again. 4% gain for wti. $114 a barrel. the 10-year yield surpassed 2.41% earlier on and continued to come back throughout the afternoon. see the drop there a strong 20-year auction that rick tolds about but confusion around the recent narratives bob is at new york stock exchange with some clarity maybe on what might be emerging. >> like choose your own narrative. the problem is driving everyone crazy how to look at the markets. it is not usually this hard. the two biggest issues are interest and rates and inflation some believe it will moderate because high prices for cars and gasoline and housing result in demand destruction. others believe it takes

the interview with jamie dimon was interesting. will always be opportunities, and bp and shell are actively looking at that. i'm not well-placed to say where they will sell their assets. there is talk of chinese organizations. time will tell. it will not happen immediately. dani: in general, i wonder if the exclusion from russian banks from swift means a lot a foreign investors in funds or assets, if they are stuck at this moment. gavin: there will be a definite pause, and you will see the impact on the russian markets and markets globally. they have stabilized, but there will be a pause. investors will seek to understand the extent to which they are exposed. the situation continues to change. there is data, the eu published big lists, and organizations like ours can consolidate that. the important piece for investors is to get access to that quality data and understand the extent to which they are exposed. dani: thank you so much. that is gavin proudley, head of third party risk proposition, dow jones. a breaking headline coming t

dimon is spot on. s.w.i.f.t. is not the magic bullet with the lever to pull. s.w.i.f.t. other ways to give instructions to move money around the world that unanticipated consequences that dimon was referring to if you think of any legal western business or energy or oil transactions from western companies where they are selling goods into russia, those companies will be unable to get paid those are the knock-on effects you will see there are a number of large russian banks removed from s.w.i.f.t. some will remain online for precisely that purpose someone needs to finance energy transactions and without that, you do create a real problem for western commerce that is still happening. if you can't pay for oil or lng, they will not send it. >> very well said. dan tannenbaum i appreciate your views. a critical time on the sanctions side thank you. have a great day >>> coming up, your morning rbi is back. this one will show you how fast the markets can change. >>> and more on the energy story. how uranium is causing concerns. and as we head to break. the shipment of starlink t

or jamie dimon. >> yeah.n that yet. >> yeah. >> we need more info on what he said most of the marshall plan is about having lng plans. >> that's good we can get in the money with the wealthier countries. we don't center any money. >> no. we can't even build a semiconductor. >> it reminds me that banks went positive for the year yesterday. only other than energy that is making it work. >> you need higher rates. >> yeah. >> i do bee is up to itself. they have some competition. >> they had the european issue some people say now they're traveling they don't need adobe as much. i don't buy that the banks are great leaders. they're great leaders coming out of the 91-92 they were fabulous they could be great leaders again. we haven't touched on starbucks. another store voting to unionize in seattle 10 minute drive from headquarters. >> sometimes you wonder what went on with kevin johnson suddenly, you know, he would say -- i did not get the signal. other people maybe got the signal other people didn't get the signal

you dimon well, yes, dimon, are you smart or stupid?more specifically, you can remember people. you don’t call kovalev, you don’t rub near, if she calls you you do n’t pick up the phone, no. i decide where to go and who to talk to, which means i'm stupid. so it's clearer. i know who sent you. at least you're not completely stupid. back off means, back off we will see next to the farrier's legs they will break. bye then. and you really won't drink, princess? no thanks, i don't. how do you like my house? yes, a big beautiful house. princess you are beautiful you doing? come to me artyom viktorovich let me go. release me as soon as i see you. i immediately came up with a little trick to lure you here, because i love you. hello maria ivanovna hello. what do you have? i fell into a fight that i can’t fall anymore. luda at home luda at class she should have been back a long time ago. okay, i'll go, then, come here. come sit down. now i'll bring peroxide. can you call her? and? and she doesn't answer my calls. i have n't been able to call for

there are indeed workarounds, as jamie dimon was alluding to.hat is currently happening and what we are seeing with regards to russia, something like this has not happened at the scale it is currently happening, particularly with the degree of eu and u.s. coordination. we are really seeing a significant paradigm shift in global payment. i would also note that one of the big things to watch with regards to swift and u.s. sanctions are these exemptions for energy related transactions. interestingly enough, a very large share of russian energy transactions are dollar-denominated. some estimates find that could be one third of russian revenue is the energy sector. one of the questions is to what extent the swift disconnect and the sanctions that will likely continue to rollout, how it will impact russia's energy sector specifically. haslinda: we know china holds about 13% of russia's fx reserves. do you see china perhaps freezing those assets? robert: it is hard to say. i would say the broader assessment that what we are seeing happening is going to

the commander was going to dimon, and i have an iron for money, so i can’t repay you yet.an fedya you can pass. now they will come. some problems hurt us. sami somewhere vtyuha eat pineapple. get down are you crazy , or what? can't you see the bumper? vanya so you forgot your car? there are some military actions there, what to say, say that you haven’t seen, and you’ll definitely roll the debt, read, you don’t owe me anything. they ran away from the dominta, they looked, yes, they themselves don’t know him, he left his grandmother and left his grandfather. okay let's go. guys, i warn you for the last time the number of your garbage truck. i wrote down, it's clear tomorrow the money is here, we don't have any money anyway vasilkov and how are you here zelenin, calls, says they graze. who is alive, where is his family, check the apartment. repeat i didn't hear the magician he ordered. empty they fled, i helped them through the window, so our employees conducted a raid to identify points of sale of alcoholic beverages and goods. sorry comrade kafar. i believe that kirill shve

jamie dimon stepping up. "axios" found out. los angeles the first major city in the u.s.rage gas price of $6 or more. hillary vaughn is in d.c. with more on this debate. hillary. reporter: good evening, liz, some democrats are using the crisis of high gas prices to their political advantage. headed into the midterms democrats want to use spiking prices at pump to push people to go green. in a memo from a democratic polling group advising democrats ahead of 2022 saying this, it is essential for democrats and clean energy advocates be on the offensive addressing voter concerns about gas prices both by fixing blame where it belongs and offering a clear path forward to voters. the memo telling dems to accuse oil companies of price gouging and making the case for expanding clean energy alternatives. it appears some democrats got the memo. >> and they set the price with what they think they can get. and that is called price gouging. >> big oil ceos are on track to spend$88 billion this year, not to produce more oil, not to address the crisis of climate, but to buy back their ow

jamie dimon is right on point.o protect the environment, we all want clean energy and clean water and our planet to be strong forever but now the time to do it does not seem to be appropriate because we don't have the energy in terms of fossil fuels that we need. how long does that transition take and what do you do in the process? >> it is an important balance. what you have to do, these are capital intensive industries that require more than a 6-month certainty. whether you are on a 5-year or 10 year certainty of a pipeline or 20 year certainty of low cost baseload fuel source and multibillion-dollar plant, there are a lot of things we can do in the united states, but you have to have more than a few weeks of certainty, can't just get back to the previous production levels and turn it on in 6 months when we get to wind farms and hydrogen. we need to do it all in sync, but most of this is regulatory in nature so we have 4600 of those 9000 leases that president biden talks about, 22, in litigation. the only thing a

jamie dimon wants to rebuild energy production. why won't the president do it?etermined to do a nuke deal? we are told the deal is imminent. why are we doing this? a deal let's russia build a nuclear power plant in iran? gives the russians much of iran's enriched uranium. gives the irradiance tens of billions of dollars to finance terrorism and poses a threat to his relapse existence, not to mention thoroughly annoying our allies in saudi arabia. the new york times columnist brett stevens says a new iran deal, makes us weaker. why won't be drilled? why give the mullahs a nuke? i don't get it. second hour of varney just getting started. here is a man who knows the answers. welcome back to the program. question one. explain it to me. why does the president refused to increase america's energy production? >> because he spent too much time in the legislature where it is all about the liberation, the desirability of an ideological goal. he is new to be an executive. politics is about ideology. governing is about pragmatism. he doesn't understand that. pragmatism says

we speak to jamie dimon.s is bloomberg. ♪ francine: welcome back to the open. 30 minutes into european trading day. moscow hardens capital controls and shuts down russian airspace. morris talks as showing on ukraine's second largest city continues. oil gains and sanctions may bring unintended consequences. the corporate desk it is -- the corporate exit is continues. if you look at the markets, it is cool because if you look at some of the videos of war coming in through twitter and on social media, it will harden the west's addition on sanctions and i do not know if you can still import russian gas and oil at this point. tom: it is a large story of human suffering. in discriminate by russian forces. we have a duty on this show to focus on the market impacts as well. it seems like the markets are relatively sanguine given the severity of the crisis around ukraine. we know vladimir putin is pushing back with his own countermeasures. the airlines are now stopped in terms of flights. the russian flights to europe

that in china, jamie dimon kind of warned you i saw the true kind of warned you we have to get usedsterday used to be chief economist at world bank university of chicago ph.d economics key advisory to xi jinping said yesterday we are going to pass americans ahead of schedule roughly 2030, or 8 years they will have global primacy exploitation of juning invasion is going to be part of story we don't seem to understand china is supporting, supporting, putin. . >> michael you have to believe that you know, this war has been a lot tougher than putin thought than xi jinping thought, i mean so look at extraordinary strength of ukrainian people ordinary are in a ukrainians picking up guns what do you think china is taking away i think putin and xi jinping thought this was over in a couple of days we are in do a 12 they have not controlled any major area, in ukraine. >> well that is right, causing an important change in china, and war plans for taiwan. they seem saying that they underestimated taiwan's strength, and underestimated how taiwan friends could help in a crisis taking away from hi

well , let's see, maybe even the leading group, then evgeny dimon dementiev evgeny evgeny belov is alreadyt circle worked alone on trying to break away. of course, strength. uh, well, let 's just say that i spent a lot of energy, and alexey chaff is already 45 seconds behind. and as we see here, it is already difficult for those who have lost contact with this first group of fans to cope with this distance. we are shown sick here. they are for their athletes from komi. and by the way, if you look at the track, after all, sometimes you can see that spring comes into its own. in the stadium, the picture looks like it's snowing again again there during the night, probably, centimeters fell out. the father is already there. well, yes, but you can see on the track that there are already branches of needles, that is, it’s already dirty, the spring track is logical. now we have almost april on the calendar, and still in syktyvkar. these are excellent conditions for holding competitions and a handsome stadium. yes boxing just where there is, athletes will change classic skis to skate poles, too, a

morgan chase ceo jamie dimon warns that disconnecting russian banks may bring unintended consequenceshe told bloomberg tv that so-called bad actors could find ways around the penalties. he had counseled washington against taking russia often -- off swift. global news 24 hours a day, online and at quicktake on bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. i'm ritika gupta. this is bloomberg. ♪ >> if ukraine does -- international peace will not survive. >> if ukraine does not divide, -- survive, we cannot be surprised if democracy fails next. jonathan: and emotional address. features negative -- an emotional address. peaches negative -- futures negative. russia sang it will continue its "operation" in ukraine until its goals are met. down on tends. the u.s. at 1.7531. tom: it is a coordinated move and nuanced. the 105 ruble is a fiction. the one i look at is the global war statistic which is gold, 1925. jonathan: we are seeing a lot of this take place in germany, down 11 basis points on twos and tends. overall, to set the stage, the bet we are maki

jonathan: that was jamie dimon on the situation with banking sanctions that we have seen in some places much nuance. futures down by .8% on the s&p. on the nasdaq, downplay .9% -- down by .9%. a 10 year, 1.71. -- speaking right now. you can see the rhetoric is punchy out of europe. look to european banks. deutsche bank is down by 5.8%. it is the first of march and rife eisen is down 50%. tom: this a wired up with all of the aggregation, a truly developing story. this from reuters and from the express in london where diplomats in geneva at the u.n. human rights council meeting, remote from lavrov of russia and they stood up and walked out. it was dozens, maybe more than dozens, but a movable protest we are seeing. jonathan: and how these multilateral institutions will function. we talked about the u.n. meeting chaired by russia discussing russia. tom: do we agree that it has deteriorated? jonathan: down 1% on the nasdaq now. tom: euro smith's -- euro swiss and gold now. what have you done with your allocation? what have you done with your enthusiasm for stocks given this war? >> we are l

jamie dimon has received almost $56 million of stock from an incentive program the company valued atat much just three years ago. he collected chairs from a performance award dating to january 2019. it was helped by surging business during the pandemic. global news, 24 hours a day, on air, and on bloomberg quicktake. powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. francine: laura wright with the first word news. this is bloomberg. ♪ >> the industry is still recovering from the pandemic. we believe that peak summer travel demand will be very strong. the wider health of the economy will be damaged by the high oil prices. this sooner or the earlier the war in ukraine can be brought to a conclusion, the sooner stability will return to energy markets. not just for consumers, but the airline industry and the wider european economy as well. >> i don't want to belabor the point, but i wonder if it impacts the consumer, if you still have that 20% which is hedged, as there a level of oil you are looking at, yet $150 or higher that if sustained

jonathan: jamie dimon called himself a patriot. tell us the rules, we will follow the sanctions. the real question, do you have a moral obligation to step back from doing business with russia even if the sections don't require you to? that is what you have to ask the leaders of these companies. lisa: we have seen different approaches with big oil but i imagine you will hear this from other companies. jonathan: down .4% on the nasdaq. yields down six basis points. 1.76. crude, $100 a barrel. ritika: up-to-date with news from around the world. the mayor of ukraine's second largest city, kharkiv, calls it a war to destroy the ukrainian people. russia stepped up showing up she cities overnight. residential areas are being hit even though moscow says it is only going after military targets. meanwhile, a large convoy of russian troops is approaching the capital of kyiv. joe manchin was to encourage more domestic energy production. he is planning on weeks of hearings for energy production. facebook and tiktok are trying to curtail propaganda of russia's invasion of ukraine. the channels

jamie dimon says it may bring unintended consequences.n union braces were disruptions of a national -- natural gas supply for russia with stopping shipments in retaliation. coyne jumped the most in july ag

francine: we had jamie dimon pushing the white house for plans and lng russia wanted to retaliate ining for rubles in future gas transactions. we spoke to a close advisor to mario draghi and he says it is difficult to pay is in rubles because you are circumventing sanctions. is there anything the europeans can do now to cap gas prices? maria: yes, and that italian official, the conversation sums up what every other european government tells you. if you pay in rubles, you would breach the sanctions, and the other thing is that that is not what the contract says. it would be a breach of contract and that brings another question, if you don't pay in rubles, is russia going to cut the flow? the only thing that they could do -- it is clear that the european union is not going to re-enter into a negotiation of these contracts. are we going to get a cap today? that is the big question today. the officials i have spoken with tell me that there is no consensus around that. we need 27 countries with unanimity around this, but we -- what we are going to get is this clear-cut road for the next y

jamie dimon has received $56 million of jp morgan stock from an incentive program that the company valuedss than half that much three years ago. the bank ceo collected the shares last week from a performance award dating from january 2019. it is higher from last year's payment. apple and facebook parent meta provided consumer data to hackers masquerading as law enforcement. the company supply details that included addresses and phone numbers and ip addresses. global news, 24 hours a day, on air and at bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. dani: thank you, juliette in singapore. the aviation summit that brings together europe's leading airline ceos is taking place in brussels today. it comes as the sector is facing multiple headwinds including volatile fuel prices and the war in ukraine, and a turbulent post-covid recovery. one of those in attendance is michael o'leary, ceo, ryanair. thank you for joining us today in the middle of this summit. we have to start with energy and fuel prices. we have this announce

matt: what do you think of the concerns voiced by jamie dimon yesterday that bad actors will find theiray around swift sanctions? it is kind of a boilerplate critique of legislations that bad actors will be gaming the system anytime we were -- we enact. how much of a concern is this? justine: -- will undoubtedly happen. we have seen this all of the time. the important element to make the distinction here is the ability for the russian economy to function as a normal economy. that will be curtailed and there is just no way you can dispute that. but even if you disconnect swift, a partial or full disconnection, payments will still move. we see that in iran, north korea, syria. the issue really is, how do you make those payments, and also, will people be willing to make those payments? russia is reliant on both money going in and coming out. a lot of people are just not going to be able to send money into russia. they are not going to be able to pay their dues. it is going to impact, but sanctions will undoubtedly happen. the other element i would say is what we have seen is the g7 and the

i would assume jamie dimon when not have allowed this to go through without first talking to the u.s. i have to believe the money is on the line. lisa: damian sassower, thank you for taking the time. i want to bring breaking news. the federal reserve governor christopher waller is speaking on a competing network talking about how the fed should favor front running -- frontloading rate hikes 70 50 basis point hike at the next couple of meetings and would like the fed to be much closer to a neutral rate. you are seeing a big move on two year yields as they shoot higher in response, at one point at 9.5%. i wonder how much he represents the consensus? kailey: that is an interesting question and how much does he or does nike not run camp -- or does he not run counter to the opinions of chairman powell. the curve getting flatter. he is not talking about 150 basis point hike. he says they should continue a 50 basis point hike at one or multiple meetings, and that would put them closer to what jim bullard wants, potentially 3% year end. obviously christopher waller is raising questions. lisa:

another payday for jp morgan ceo jamie dimon. he just received over 56 william dollars of jp morgan stock before taxes. it comes with an incentive program the bank valued at less than half that much. the latest involved -- the latest windfall was handled by the surging business during the pandemic. global news 24 hours a day on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in over 120 countries. i am lisa mateo. this is bloomberg. >> i do think so far we are seeing clearly the situation in ukraine has put inflationary pressures into the economy. you can see that in gas prices, wheat, aluminum, nickel, fertilizer. i have not seen a drop in demand. jonathan: the richmond fed speaking to michael mckee. good morning. futures are higher by 0.1% on the s&p. the 10 year down three basis points, a monster move in the bond market. in terms of yield, all the way out to 30's. crude down by six percentage points to $101.20 as we could have a monster release from the administration. all of a sudden, consen

they talk about it, jamie dimon is the leader.talks about we need to get used to be number two in the world now. larry fink, david solomon, they are expanding their investments in china. our trade is increasing. >> laura: just like with the coming lockdown -- soft lockdowns because we are not going to have travel as much with gas prices, get used to being number two. everybody gets a trophy in that world. do seo. >> bad news, sorry. >> laura: managing our declin if what happened in wuhan isn't a sign we need to stuff under a dangerous virus experiments, what these dangerous labs in ukraine that are now under threat? >> ukraine has a biological research facility which in fact we are now quite concerned russian troops, russian forces may be seeking to gain control of. >> if there's a biological or chemical weapon incident or attack inside of ukraine, is there any doubt in your mind that 100% it would be the russians who are behind it? >> there is no doubt in my mind. >> laura: according to u.s. officials, these are basically public

the dynamics of trade and the entire dimon -- entire dynamics of the pacific rim, my brain can't evenight now. i need more tang. but the answer is japan matters. lisa: especially as you talk about havens. what are the havens in this normal we are living in with the post-poll -- the push-pull? is it apple shares, or do we look like a base haven trade that looks like something to -- something we use to know? tom: we will get to that throughout the morning. the vix is absolutely stunning, 21, 20, just reaching 19, 18.8 on the vix, from 17 back on down. i think that defines round-trip. stay with us on bloomberg radio and television. good morning. ♪ >> welcome back to another special miami open update for bloomberg tv and radio from tennis channel. the superstars came out to play monday at the joint masters 1000 event. world number one seek us one tick -- the world number one took out phenom coco golf -- phenom coco gauff to reach the final for the first time. naomi osaka cruised into the elite eight for the second consecutive year after she got past allison riske. taylor frisk won the bat

morgan, jamie dimon, larry fink from black rock. >> neil: they might reassess all of that.actly. let's see what bob nardelli thinks about this, the former home depot ceo. to charlie's point, bob, this idea that these companies -- forget about what they're doing now. we're going through a list of all of those that said they're dropping investments in the area, but this might not be a short lived event. companies like royal caribbean, companies like ford and g.m. that stop selling cars in russia or apple that stop selling anything in russia, that this might last awhile. as long as vladimir putin is in charge, they want nothing to to with it. what do you think? >> yeah, first of all, neil, welcome back. great to have you back on air. i think charlie makes a great point. i know that you mentioned g.m. and ford. i know jeep is thinking about the same thing. when i was at chrysler, you know, we had a big program to try to bring jeep to russia. probably going to pull out of there now would be my guess. i think you'll see a lot of that coming out of there. the humanitarian cry and

at the white house with corporate who's who, our cameras caught on the way in jpmorgan chase jamie dimonthe way. joined by two big oil companies and one of the largest oil refiners. nec director brian deece, national security advisor jake sullivan, treasury secretary janet yellen and commerce secretary gina raimondo. this come as the white house publicly blames oil companies one of the reasons gas prices have gone up. with the news european countries may consider a ban on russian oil coming into those countries, republican lee zeldin says he knows how to counteract that right away. >> decision was made strategically with bipartisan support to cut off russian oil imports. the decision was made by the biden administration to move towards iran and venezuela to make up for that as opposed to using this as an opportunity to look at our own domestic energy policy, our own domestic energy production. this is an opportunity and a reminder to ramp that up, to become energy independent again. reporter: the meeting at white house included some of the largest food producers in the country. the admin

market pro says buyer beware calling this run higher a head fake an energy marshal plan what jamie dimon

david kelley's boss was here at the white house jamie dimon coming into the meeting. the president was not supposed to be in the meeting, the ceos and weaving the president did step into the meeting for 20 minutes. those folks met with a number of officials at the white house reduce either the national security advisor and treasury. in food producers. the president updated all of them and the invasion and what's happening in russia and ukraine. senator ben sasse says that's easy to unleash american energy. >> we should be moving towards energy independence of the biden administration should get out of the way with north american energy production so the europeans don't continue to make so many stupid decisions of tying themselves to pollutants energy supplies. we should cut afresh from energy supplies. alvin and the room and all of the presents have had so far in the invasion of ukraine the ambassador says nato is to blame for the invasion the president biden did not want the crisis in the chinese have also said that they will support russia's economy through normal e

. >>> do we need a world war ii rebuilding plan for energy jamie dimon th

jpmorgan chase ceo jamie dimon met with the president at a business roundtable event on monday and heident to create a marshall plan to aggressively improve domestic energy production, to reduce europe's reliance on russian energy. edward lawrence traveling ahead of the president, he joins us now live from brussels, belgium, with a preview of the president 's third international trip and edward, from the looks of schedule, it is going to be a busy one. reporter: it's a very busy one. the president tried that zoom thing, now he's going to try this in-person. behind me is the brussels town hall, you see there's a little yellow, it's yellow on the bottom, blue on the top that's in support of the ukraine people. now the president bringing a message here for nato as well as other european leader s, however the president not saying before he left exactly what that message is. >> i'm going to say that to their face. i'm going to say all i had to say, i'm going to say it when i get there. reporter: national security advisor jake sullivan says that the president will sanction, offer new sancti

. >> martha: jamie dimon looks at the economy and clearly sees that's what can happen. he is asking for a plan to get europe less dependent on russia and that changes the power structure for russia as well in a big way. thanks, dan hoffman and kurt volker. great to have you both with us today. president biden when asked how nato would respond, if there was a chemical weapons attack, god forbid from russia. he said in kind. he said we would respond in kind president so what did the president mean by that? general philip breedlove only on "the story" next. a strategic and sustainable asset... the path is gilded with the potential for rich returns. people with moderate to severe psoriasis, or psoriatic arthritis, are rethinking the choices they make like the splash they create the way they exaggerate the surprises they initiate. otezla. it's a choice you can make. otezla is not an injection or a cream it's a pill that treats differently. for psoriasis, 75% clearer skin is achievable, with reduced redness, thickness, and scaliness of plaques. for psoriatic arthritis, otezla

we know jamie dimon was there asking for a marshal plan to energy independence in europe and here atat to have you with us today. >> american energy is freedom. >> martha: so emergency crews in louisiana combing through what is left of these homes and businesses after two massive tornadoes ripped through the new orleans area overnight killing at least one person. witnesses say that it sounded like a train going through their homes. we hear that often in these scenarios. boy, this is an awful situation the powerful twisters leaving thousands of people with no power and prompting the governor of louisiana to declare a state of emergency. there's an aerial shot of the incredible damage of that tornado in louisiana. so with that, we wait for president biden to land in brussels momentarily. we'll be covering that nato meeting throughout the rest of the week. that's "the story" for this wednesday, march 23. the story goes on. see you back here tomorrow at 3:00. "your world" gets started now. >> neil: all right. thank you, martha. we're waiting for the arrival of the president of the united

apparently there is another pitch too from jpmorgan's ceo jamie dimon.e made it yesterday at the white house about us, us about repairing our energy grid, our ability to produce crude oil. i don't know the details but it sounds fantastic. your thoughts on that? >> i think we ought to be doing everything we can. the typical family in this country will pay $2,000 a year more for gasoline this year. this is what's happening. it is simple supply and demand. this can be fixed by unleashing the energy producers in this country, getting them off the bench, getting them back into the game. there are many ways the administration wanted to if they could do that, so i couldn't agree more with this approach. call it the marshall plan, call it whatever you want. make america energy independent, with all of the above energy strategy, that produces that energy right here in america. charles: just so sad. we've been told over and over again climate change comes first even with the pain that you just described for the average american, although there is some rumblings ou

jamie dimon said yesterday that he foresees some unintended consequences from all of these sanctions.e me says too bad. we're going to have to endure a little pain considering what the ukrainians are doing, and how russia's jumping in there with its iron fist, but president biden just had his state of the union address last night, and there were 96 or so standing ovation applauses where he was interrupted, only a couple of them involved the republican side of the aisle here is one of them that had to do with the police it's getting a lot of attention we wanted our viewers to hear it but i need you to tell you where else he could have built some bridges in president biden: the answer is not to defund the police, it is to fund the police. [cheers and applause] fund them. fund them. liz: you can see the republican senate and members of congress there all standing but there weren't that many of those moments, were there? >> you know i would probably phrase it a little differently. i would say there were three aspects to the speech. the first one was patriotism and democracy revolved aroun

marshal plan to develop more domestic gas and resources, that's axios report on what jamie dimon told the president at the ceo meeting. we are just getting started this morning, coming up the bloody city of mariupol facing attacks after weeks of relentless air strikes on air, we will take you to lyiv out of ukraine. pat will give us a testimony, he will be on the hill talking about manufacturing chips in america. don't miss a moment of it. you're watching mornings with maria live on fox business. ♪ ♪ ♪ [ marcia ] my dental health was not good. i had periodontal disease, and i just didn't feel well. but then i found clearchoice. [ forde ] replacing marcia's teeth with dental implants at clearchoice was going to afford her that permanent solution. [ marcia ] clearchoice dental implants gave me the ability to take on the world. i feel so much better, and i think that that is the key. have you ever met a transgender kid? there is no atmosphere that is the same as playing a sport with your team. when you're playing a sport, it's not just about you. it's about what you can do as a team or a

meeting earlier in the week in washington with some major natural gas ceos and bank ceos including jamie dimon who encouraged the biden administration to come up with a marshall plan for natural gas, to ship natural gas to europe but who also ramp up domestic production or the u.s.. this goes to show how important and how central energy is to the strategy that the u.s. and its allies have taken to put pressure on russia. energy is one of russia's biggest exports, one of the biggest commodities and this is the point of leverage and pressure that i think most people feel will be felt most acutely by president putin and russia. we need to have some agreement among u.s. and the you e.u. -- and the eu allies in the coming days. haidi: russia is escalating the energy sites, demanding ruble payment to those it deems unfriendly. that since european gas prices and the ruble soaring. sydney is with us as well. this is escalating the energy tensions? >> it certainly does and it seems to be having the potential to hurt europe at a time when they are suffering from the gas prices. we are seeing soaring ene

dimon was probably going on a limb a little bit when he said that jp morgan would outlast the chinese communist party. i don't want to comment on that except to say that nothing lasts forever and i do think that the hong kong people have proven remarkably resilient and there are you know many many small acts of defiance. there's you know still you know, there's still more than seven million people living in hong kong even with the outflow most of those people in their hearts, you know support an open society and i think they're some of them are working some of them are waiting, but i hope that they live long enough to see a different a different time and a better time. hong kong will never go back to what it was, but there's no reason it couldn't it couldn't be a remarkable and open city again. i think more broadly china's actions are waking the rest of the world up to it's it's true nature and look i spent somebody i spent more than three decades in asia 28 years in hong kong, you know working for and believing and engagement. i don't think that i was naive. i was perhaps a little mo

. >> jamie dimon, ever since he made the comments about fin tech, it's been down but, you know, he feelse needs to buy. >> right you were with jane fraser yesterday. >> i was. >> i didn't want to buy the stock after i saw the interview. >> why not >> i felt like, holy cow what a hand she's got now she owns it. she's been there for a year. i think that the hole is in the bucket there it's too great. >> it'll take some time. next three to five years and get to 11 to 12% may not be exciting that many investors. there's almost a sense to cycle through disappointed investors and get a new investor base. >> that's, right that's a good point. people who come in and say, listen, she's very smart she clearly is. >> yes she has to take a lot of actions. which she'll do. and then it'll be fine. >> it doesn't happen overnight. >> no. it doesn't happen overnight. increase in the tech spend to $11 billion. >> yeah. >> 30,000 software engineers, i asked her about that. >> why don't they bring in gary steele >> it's an interesting choice. typically a private equity firm. maybe they're running out of dea

we always think about the so-called diamond bottom when jamie dimon went out and bought jpmorgan shares when jpm was at about book value, just at a slight discount as a matter of fact. right now it's at about one natch times. i -- one and a half times. it had gotten expensive enough that it doesn't seem as if you're talking about real cheap pockets just yet. >> david did ask jane frazier, 75% of the book value, yeah, at citi which is also up today along with the other banks it's not had a particularly good move since the company's investor day last week some investors saying you're taking too long to get to your target of, what, 10 to 12% rotc, others saying they still think it's not reachable over time, you know, we'll be monitoring that and checking in hopefully over time as well with the efforts being made there at citi but especially given their place as the global bank, at least here in the u.s. sort of with the most outreach and the most exposure to russia, those shares have suffered more than the overall group. >> that said we do have a handful of bullish calls this morning, ever

i want jamie dimon to just say nothing because he's probably -- he is, david, what i call for for fortresser in a fort. >> it still means the stock is down more than the s&p this year >> well, okay. yeah i mean, no kidding some oil stocks are down. >> yes, occidentals down 6.8%. >> that's been the strongest stock. >> we've got pharma up, energy down, banks are up, and let's -- >> but ulta beauty, okay, ulta beauty >> let you do ulta, then we've got to get to bob. >> i'm just saying these are companies -- pinduoduo has nothing to do with ulta. >> keys to this market. >> you said we'd be safe in pinduoduo. >> that's four years ago, jim. >> all right, let's get to pisani, get more on what's going on in this market this morning good morning, bob. >> these chinese stocks. jim's all over this and he's right, they're just a mess right now. let me show you the overall market today if there's any good news, banks are ralliy ing, but it's not fo a good reason. rates are up we're at three-year highs. industrials up a little bit. tech's a little problematic, and i'll tell you what's an issue here is v

exhausted by citi, but many bho own the stock have not had a good run if i were jpmorgan or jamie dimon i said those things, that he lost his temper on the call, start talking about fintech. >> well, fintech frustrates him because he feels like it's a government regulated entity. he's got his hands tied in terms of doing certain things that the other insurgents are able to do, these small companies. >> it's kind of like we know who the they are who they said they are. >> i see okay guys, albertsons put itself up for sale, lack of a better term. >> just think, he came on this show, and efshe was like raving about how well the company's doing. >> the board believes in the continuing strength of our business and the scale of the portfolio warrants deep and considerate review of all possible paths towards maximizing value creation. >> should they not have come public >> you know, usually you do something like this if maybe you got a bid, you don't say you got a bid. or you have an activist, but in this case i guess it's just ser berous maybe look at what's going on at kohl's i don't know ji

really skeptical and critical of crypto, i'm thinking of a charlie munger called it a disease, or jamie dimonf this changes their mind a bit >> you know, i think it will it's perfectly natural any time a new innovation emerges for people to question it. it's new they don't understand it but as more industry efforts are put into development into the underlying technology and more education takes place, i think it's natural for people to see these use cases. we have talked about stable coins as a way to offer access to banking services that the underbanked population don't have access to right now that's the same concept that we're talking about for war-torn countries that no longer have a viable financial system. so, at its core, i think these cross-border remittances afforded through things like stable coin will absolutely be one of the pillars that this industry grows up around over the course of the next five years. >> always great to get your thoughts thanks for joining us. >> thank you great to be here >>> coming up this morning on "techcheck," google, as you may know by now, giving into

i can tell you jamie dimon was spotted coming into the white house here about 20 minutes ago, obviouslye of the many executives that's going to be in a meeting here at 1:00 not with the president, but with the nec director as well as jake sullivan, national security adviser, treasury secretary and secretary of commerce. the president, for his part, got on a phone call earlier this morning with the leaders of france, germany, italy and the united kingdom to talk about the next steps going on with ukraine. now, on the agenda there's been talk about the russians, the europeans actually banning russian oil coming into europe. so that's on the awe general da -- agenda. also this week for the first time since russia invaded, the president going to europe, will be talking face to face with other nato leaders, setting an extraordinary meeting, is what they call it, an emergency meeting. then the g7 meeting, then they'll be wrapping with the european union council meeting all for president biden on thursday. now, both president biden and nato have made it very clear they will give weapons to ukr

i mean, i don't think jamie dimon, say, listen, i really want -- i want guys who have an account. >>res about jpmorgan >> i'll give it to you a little love. >> you got it, baby, i've got a dice game downtown, too, i'd like you to be a part of. >> it's going to happen. it's going to happen now >> can you set it up >> i'm going to set it up right now. >> we'll get kcramer's mad dash, countdown to the opening bell just about eight minutes away. don't go away. ( ♪♪ ) i call it the wheel. okay. this is a miss. edison, can i be honest with you? i-i-i-it stinks. (speaking japanese) like i was saying, it's ftx. it's a safe and easy way to get into crypto. ehhh, i don't think so. and i'm never wrong about this stuff. never. >>> we've been talking all morning about these headlines on the tape about what appears to have been a constructive round of cease fire talks in turkey. oil, as we mentioned, flirting with double-digits and the vix below 19 for the first time really since january st mens mi uincongp ju aomt. i am here because they revolutionized immunotherapy. i am here because they saw ho