jamie dimon mentions geopolitical risks.ty squeeze in a complex trading product that upsets the market and maybe the bank stocks. we have not seen it here. you go back to 2023, that was credit suisse. jonathan: appreciate your time. we get goldman at about 25 minutes. what kind of companies should we be owning this year on the banking side within the sector? do we need to higher capital market concentration or stick with traditional names? ken: a strong delta for goldman sachs. we have a strong buy on goldman sachs. 15% of total net revenue comes from net interest income. it is on face service revenues across all its businesses. i like the announcement where they are trying to get a front row seat for private credit. we will be speaking about that more this year. i like what goldman is. the rearview mirror was consumer banking. goldman will define. jonathan: we will talk on the numbers drop around 7:30 eastern time, 20 minutes away. stay close. ken leon. joining us to extend the conversation is edward yardeni. welcome back t

with the announcement it is clear that jamie dimon isn't going away. he is signaling he will be in the draw a little while longer. the list of potential successors expands to include troy rowe bumped. nothing has changed in his title or role but everybody wants to point in that direction and it's interesting. there is no real indication he is the obvious one here, but he is more in contention today than last week and the other name i find interesting because of a series of changes in just over a year, doug beckner. last year, when the main banking guy at jp morgan jumped to citigroup suddenly doug beckner was given the title of banking but now he is the cohead of cip. that's a big promotion in 12 months. sonali: sridhar natarajan senior reporter covering banking for bloomberg. call him with your tips. we want to know what is going on. day two at the j.p. morgan health care conference in san francisco not just talking about changes at the bank, talking to executives. kriste -- kristin peck joins us next to talk about changes in her industry. this is blo

is retaking the white house on bitcoin which dimon called a ponzi scheme. he is sticking with his script. it has no trinsic value. on the issue of a successor, dimon doesn't have one in mind. >> that's a statement in itself. nobody in mind. silvana, thank you very much. >>> turning attention back to the markets. the u.s. markets are feeling the pressure from the stronger than expected jobs report. futures are in the red. the nasdaq falling 1.5%. dow down 1.3%. the s&p down 1% in the pre-market. the yield on the ten-year yield is hitting a ten-month high. it is raising the stakes for the wednesday cpi report with the hot rate on the core rate can move the stock and bond market and have a major influence on the federal incoming rate decision. joining me now is jeremy schwartz at wisdomtree. >> great to see you, frank. >> we see a lot of volatility in the market and declines in the markets. do you think all of this has to do with the fed and people having less confidence in the fed cutting one time this year and definitely having less confidence in them cuttin

his bank is thriving and healthy, but dimon, now 68, has had two major health scares.ou are now, can we say, cured? >> yes. remission, yeah. i know a little bit more, people with have been told they have cancer know more than other people, it's staring you in the face and may happen. you are a little more deliberate, more thoughtful. you don't want to have regrets. >> reporter: you also had a heart scare? >> yeah. >> reporter: it happened at the beginning of covid in march 2020. >> my heart, i just, i mean, the pain was extraordinary. i thought i -- >> reporter: was it a heart attack? >> aortic dissection. i had a tear in the aorta here. >> reporter: did they tell you might not make? >> yes. >> reporter: going in for surgery, you note, at least you think in your mind, i lived the life i should have lived so far? >> yeah, not enough of it, but yeah. >> reporter: how long were you on the table? >> seven or eight hours. >> reporter: were you surprised when you woke up? >> the doctor told me i was one of the only people he ever saw wake up immediately after surgery like th

jamie dimon says tariffs can be a useful tool if used properly while we are told by someone from u.s. -- from ubs that clients should diversify. rachel reeves returns from china after a week in which markets pummeled u.k. assets. good morning. happy monday. another day, another reigning end of that surround the fed, just 28 basis points priced in, just one interest rate cut expected in 2025 after the jobs data friday came and hotter than many expected with the unemployment rate going lower and a total jobs number coming in at 256,000. you saw the selloff in bonds again friday, markets readjusting and equities stateside sold off heavily friday. there's been a challenge session in asia as well. ftse 100 futures pointing lower, s&p futures around the selloff friday currently pointing lower by .4%. nasdaq 100 futures looking to lose 125 points. the treasuries we focused on are not trading today because japan at least for the moment is closed for a holiday. treasuries will open for trading later in the day. focusing on euro-dollar and the pound. that surround further pound weakness are bei

but you don't see jamie dimon racing on down to mar-a-lago.ou don't see jamie dimon sitting next to him at the inauguration. there's a difference between being a ceo and having to do business with the white house. i'm sure once trump is president, if jamie dimon gets called down to the white house, he will show up. he'll he will obviously work with or meet with the treasury secretary. that is different from mark zuckerberg, who i'm going to say i'm more of an alpha male than he is, is now saying, this company, you're going to bring some more masculine energy to msnbc. i'm going to bring some more masculine. his company needs more masculine energy. my question is sheryl sandberg, guess you ain't leaning in now that you're just sitting on the board. all right, gentlemen, thank you so much. when we return donald trump's picks for defense secretary dodges questions that could involve our military, like trump's plan to take greenland over or the panama canal. and our next guest has a lot to say about it. as a veteran. and former congressman. max ro

jamie dimon is a smart guy. i have a lot of respect for him but he knows what matters are his clients. they want allocations between 1 and 3% for their portfolios. he will give it to them. he would prefer if it was done through a regulatory platform that he was compliant with. so we need the new administration to come in and put those rules in place so we aren't debating whether a theirium is a commodity but the potential of digital currency should be owned, controlled and developed by the united states of america. in the case of stable coin of the u.s. dollars, these are all facts. so we have been held back by ginsle. from the sec. they have to get their act together and they will under trump. >> bill: thank you, kevin o'leary, good travels to you we'll talk real soon. thanks. >> horrific incident to have to live through and just watching that tape just really i couldn't even watch it all the way through. >> dana: new york city mayor on the sickening subway fire murder last month. suspect set to be arraigned to

we looked at jamie dimon's statement and he's ceo of bank of america and inflation is on the horizon and look at consumer price index today and particularly the core year over year, sure, it was slightly less than the expected 3.3%, but at 3.2%, the cpi numbers are still indicating, at least to me, what the heck do i know, that inflation is sticky. so how do you see it as it pertains to the rally going on right now and whether you're buying stocks? >> yeah, that was a fear with how much fear is baked in with inflation and interest rate trajectory and we've been able to calm investor withs this idea that maybe, maybe inflation is sticky and not moving higher, which me means that maybe the rumors about the fed potentially hiking interest rates instead of cutting after a potential pause is not on the -- in the cards so i think investors feel good about that that i agree with you, i think inflation is sticky. when i look at banks, i will say the one thing that stood out to me that not a lot of people are talking about is health of consumer businesses and those were quite strong and delin

growth managers we find a portfolio so we can get back to loan growth also like an oxymoron but jamie dimonr as it will do munificent december 31 that will not be as important interest rates might come down but going forward the guidance can be key to these companies bankamerica and so forth. the rate at 4.7. and for new quarter that's a pretty big rise and there will be unrealized gains overall banks are in good shape then the stress test over and over and less regulation the bank is excited on so many different industries the banks of the big release of the pressure nonstop stress test. i think this is the sector that may benefit the most of less regulation. >> john lonski, yellow layer on one more issue that is the extreme fire damage in los angeles. now analysts are trying to understand the impact. td cowan the extreme fire damages raising policy questions for financials despite insurance being state regulated they expect headline risk on possible ration on federal insurance and reinsurance programs. >> it looks that insurance rates are higher because of the horrible tragedy in los ange

larry fink and jamie dimon are well respected, very eloquent leaders that have just driven tremendousnge within their respective areas. and so kind of the parlor games of who will fill that seat, if you are looking around and saying, well, this may not happen for a while, it's just going to be time for me to go and/or if you, you know, at some point you kind of get to that age where it doesn't make sense to be the successor anymore if you are in your 60s. i think it was a case of that for both instances. >> all right. leslie, thank you. >>> more breaking news. this time out of washington. the look at how much the federal government is spending. megan has the details. >> this time it is more than ever. the government spending $1.8 trillion so far in fiscal year 2025. that's about 6% more than the first quarter of last year and setting an all-time record in spending for the first three months of the fiscal year. treasury took in 1.1 trillion, so the government set a record for the size of the deficit at this point in the fiscal year running at $681 billion. that's 26% higher than the fi

jamie dimon is citing productivity and team dynamics.to re-evaluate these remote work policies. president-elect trump's legal troubles continuing this week, a new york judge has denied his request to delay sentencing in the hush money case that remains scheduled for january 10, 10 days before inauguration. president-elect trump has maintained his innocence in the case, repeatedly railed against it as an example of law fare promoted by the democrats as a federal judge in florida temporarily blocked the release of jack smith's final report on trump citing legal challenges. the biden administration is pushing a last minute move to slash nicotine levels in cigarettes, effectively bans most of the products we have on the market right now. experts are saying these proposals would open the door to more smuggling by mexican cartels and chinese counterfeiters as well as russian crime groups. critics say the plan was rushed without input from law enforcement or health experts and could end up increasing smoking, not reducing it. the fda says the r

[laughter] let's just say the yp morgans of the world -- jpmorgans, jamie dimon is famously anti-cryptoy those guys start snapping up bitcoin. you yourself have been purchasing not just mining. it's probably cheaper to purchase bitcoin on the open market than it is to mine it in some cases. what then happens? i mean, do you see any headwind from if that kind of movement? >> no. i think, if anything, it's a tailwind, you know? if jpmorgan were to come out and say, hey, we're going to go buy bitcoin in the open market and recommend that our clients on the wealth advisory side have a 2% allocation, that would be a huge endorsement and would just continue to drive the price higher. this is a market that mousse on positive news. -- moves on positive news. bitcoin doesn't generate yield, it generates value appreciation. it's very much like gold in that regard. and, you know, obviously, powell even said he doesn't view bitcoin as a threat to the dollar, he views it as a threat to gold, if anything. and i think you're going to find people viewing bitcoin as something you're going to want to own

listen to jpmorgan ceo jamie dimon school lesley stahl on trump's tariffs. >> but what about advice to him on some of the policies that he's threatening to do that could hurt the economy, for instance tariffs? >> i have not spoken about tariffs. >> i think you should read the art of the deal. he's a negotiator. he lays out some very tough things and sometimes it works. we have to worry more about national security, resiliency, diversified supply chains. and we didn't. tariffs are a way every tool properly used that can help get some of those issues resolved. >> you think it is a legitimate negotiating tool? >> absolutely. yeah. also, you're a tool. put that in your stall. leslie. so you need more proof that common sense is returning. the owner of the l.a. times just admitted his paper's endorsement of karen bass for mayor was an error. wow. you think that's a gutsy take? next, he'll say it was a mistake to smoke cigarettes on the hindenburg. so it seems common sense is spreading faster than crabs at larry kudlow's seafood bonanza. the backlash has backed off. bottom line, january 20th

jp morgan chase's ceo jamie dimon is cautiously pessimistic about the future of the u.s. economy.ws. consumer concerns and the desire for more pro growth, pro business policies are among the reasons donald trump is retaking the white house but interestingly he's oftentimes been, you know, cautiously optimistic about the economy. i thought the phrase cautiously pessimistic was interesting. also a fascinating interview. really spoke i thought on a personal level. i don't know if you watched the entirety of it. >> no. >> about some of his health issues that i don't think people fully appreciated. he had a heart issue then. he'd had a heart issue prior to that as well. just very emotional to hear. >> talked about his surgery. waking up and waving at his kids and just kind of thinking -- she asked him specifically have you lived the life you wanted and he said yeah, just not enough of it. >> yeah. hear that's a pretty common -- no one wants to go ever. i know i don't. i remember talking to him a couple times. this is a long time ago since it had happened. initially it was like, i knew

dimon says that he has not spoken with trump about tariffs.es. jay and jim will acquire all outstanding shares for 132 dollars per share. total equity value of $14.6 billion payment it is subject to regulatory and stockholder approval. jonathan: thank you. i don't think we can overstate how much the incoming president has changed the conversation around tariffs. used to go on radio years ago talking about why we needed terrace because china was not playing by the rules, you needed reciprocity, and people would look at me like i was a heretic. now you have people talking about the need for them in certain places. lisa: frankly, we saw joe biden keep a lot of them on and keep certain ones. it is a bipartisan sort of effort. annmarie: this is now a bipartisan policy in washington when it come to tariffs, especially your adversaries in china. jonathan: next on the program, the morning calls, plus we will catch up with christopher marinac. looking ahead to some big bank earnings including jp morgan. that kicks off on wednesday. we will get his thou

jamie dimon and goldman sachs, or if the rich pay the same percentage the middle class does we woulde a balanced budget. does he know about that and he doesn't like that idea? those are the two questions i would like to ask. guest: the teeing up terminology i use, that is not a technical term. it is preparation before presenting a piece of legislation or an idea. the fact of the matter is that previous trump administration prepared to lay out a trade agreement with kenya. it requires a lot of work. there is a lot of diligence necessary because like i mentioned the growing technology and a lot of moving parts to this type of negotiation. often times a trade agreement will be presented and start out with nowhere near the votes to pass. it is my sense that the opinion trade agreement would have received a strong bipartisan approval. i sense there are more democrats all the time looking at growing opportunities in america by engaging with our trade partners, in this case kenya would be an example. host: he also asked about collecting more from wealthier americans to benefit the middle cl

jamie dimon was in washington, d.c. and chastising d.c. federal workers, saying washington, d.c. to get back to work. goldman had a full on office in 2021 and then reiterated and provided employees of that in 2023. why is it taking j.p. morgan until bang only know the culture at the top is you should be at your desk? jonathan: let's talk about corporate culture in america. i think the ceo and space between them is getting wider and wider at has been for much of the last decade. human resources. the head of the hr department and many companies has become incredibly powerful in the last several years across the host of different topics. lisa: this is the question of how to maintain corporate culture with a large company. that is being reassessed. i do think this is something that is increasingly at issue with the get back to office but also more than that what is corporate culture and how do you view that throughout the ranks. jonathan: listen to an interview with the ceo. an old-school ceo this been around for a long time. listen to the talk about corporate culture. get an underst