wells fargo set to report.into the world's biggest lender, next. ♪ you shouldn't have to go far to get the help you're looking for. that's why at xfinity we're opening up more stores closer to you. where you can use all of our latest products and technology. and find out how to get the most out of your service. so when you get home, all you have to do is enjoy it. we're doing everything we can to give you the best experience possible. because we should fit into your life. not the other way around. shoshow me more like this.e. show me "previously watched." what's recommended for me. x1 makes it easy to find what you love. call or go online and switch to x1. only with xfinity. mark: let's get the first word news. president obama expected to announce weeping new regulations tomorrow on offshore drilling rules. the regulations would come six years after that massive oil spill in the gulf of mexico which killed 11 workers. costlysure would impose requirements for coastal wells and emergency clement designed to limit

known as the wells fargo biggest bear. today, we will talk to the wells fargo ceo about earnings. don't miss it, later on today. scarlet: turning now to another big bank, we are talking about which a bank who said they found external failures in controls meant to prevent money laundering and financial crime. conclusion of a report analyzing mirror trades, details of which we can find in the news. iss is complicated, so what a mirror trade? trade is allowed -- particularly if they are done in russia and latin america, mirror trades in and of themselves are done by mutual funds and are perfectly legal. in this case, it allowed investors to buy shares in rubles and exchange them for shares in u.s. dollars in london. tradesically mirror the and it is a way to move money from one country to another through an equity trade. whatssue is whether or not we think is up to $10 billion of mirror trades as well as other bypassf trades anti-money-laundering controls and was moved out of russia without being properly vetted. the question

we are watching wells fargo and the like, and oil at 4169.keeping a keen eye on oil ahead of that meeting so that is important too. 4167 for oil, you are watching "fbn a.m.," your first look at morning markets and breaking news. hmm. [cell phone beeps] hey! [police whistle blows] [horns honking] woman: hey! [bicycle bell rings] turn here. there. excuse me. uh. uh. [indistinct announcement on p.a. system] so, same time next week? well, of course. announcer: put away a few bucks. feel like a million bucks. for free tips to help you save, go to ♪ feed the pig lauren: get up, get ready and go get them. 5:405 am in new york, let's get you caught up on what is happening now. governor john kasich has picked up a key endorsement in new york at the all-important primary, donald trump's campaign manager will not be charged in connection with an incident. the dow jones industrial average boosted to its highest point of 2016 and more big bank earnings out today, how they affect the markets. kobe bryant ending his 20 year career in storybook fashion. we w

wells fargo down 6% in the first quarter.provisions, they have been increasing. onm just waiting to get data initial jobless claims coming through right here, right now. rate, 0.1%. initial jobless claims fell 13,000. at actual number comes in 253,000. month, coming in 0.1%. energy month on month, the same readings. the year on year figure, slight -- coming in at 2.2%. down from a previous reading up 2.3% and just below the survey number. a slight disappointment for some of the deflation readings. vonnie: the 10 year is down at 1.78%. yield of .75%. a little bit of an increase. jon: the federal reserve is worried about a slowdown abroad. inflation pressures not rising too quickly. gives janet yellen and little bit of support. the last thing she wants is an overshoot. david: it gives her option now at a -- it gives her optionality. is heartening with the numbers yesterday. at least we are seeing reasonably healthy inflation. jon: the flipside is with cpi running over 2% year on year. those kind of numbers, less and lined -- le

wells fargo was considered a bellwether of the housing market wells fargo has become a barometer forow falling oil prices are affecting the big banks. the oil loans in particular amount to 2% of our loan portfolio, the only portion of the portfolio where there is a lot of our row or distress going on, so it has a lot of focus by a large number of people. i would not describe it as overshadowing the rest of what is happening in the loan or folio or results overall. we managed to produce $5.5 billion in net income on higher revenue, both interest and noninterest income, growing assets, growing deposits. we also did it in spite of having set aside reserves for oil and gas loans and taking some losses in the portfolio, so the results are still happening at a very high level, even though we are working through oil and gas issues in the portfolio. this is what a ubs analysts said about investor perception of wells fargo. >> most people don't really think about the fact that they will be underwriting some of these credits that might be at higher risk. alix: how do you respond to that. >> we

wells fargo pretty much flat here. bank of america and wells fargo posted lower quarterly profits.ted lower quarterly profits and by the way, wells fargo is one of the most sizable lenders to the oil industry. oil has been lower, that has hurt perhaps some of wells fargo business. tomorrow at citigroup street expecting earnings per share of a dollar and three pennies. >>> is now the time to be betting on banks? traders at the new york stock exchange, and the cme group. doreen, hi. >> hi. liz: the banks are not hammered by anything bernie sanders is saying today. they could arguably be hurt more by what dennis lockhart of the atlanta fed is saying, no rate hike now or perhaps what's going on in the oil industry. are these good stocks to make a bet on now going into the second quarter? >> i think the expectations for this earnings season was so horrific. it was said to be the worst earnings season since 2009. this season in its entirety could be a case of what if it's better than what we expected, it could be a very good sign. so i think as you're saying, very mixed, everything is mc

>>> a live look now from high above the wells fargo center. the capitals and flyers will play game six, the flyers have won two straight to make it a series. a win at home today will extend the series for them. this is our nbc 10 pregame show, "flyered up." ♪ >> we have an exciting half hour for you. hi, everyone. welcome to "flyered up." i'm katy zachry, john clark and steve coates will join me in a minute. first let's get you caught up on the series. >> rosemary connors explains how we got here. >> reporter: just three days after the passing of ed snider, flyers fans came together to watch the flyers and caps open this playoff series. in game one, two things happened, sean couturier got injured and holtby dominated. game one went to washington, 2-0. >> penalties were a big factor. that ended the momentum we were trying to gain. >> reporter: in game two the flyers hoped to win for their chairman, but alex owe vivechki propelled the caps to a 2-0 series lead. >> we will go home, take the next two games. we have great confidence in each other.

we'll talk about wells fargo -- we'll talk with an analyst about wells fargo earnings. >>> let's getnk of america. wilbur frost has been on a conference call with the company and he joins us now. >> reporter: you said at the top of the segment that bank of america beat on the revenue line. there's some debate whether they beat on the line or not. the key factor the epx was in line with expectations and those expectations the ones from earlier in the week before jpmorgan's beat and thus they didn't beat to the same extent. that's why we're seeing shares up a percent giving up that 3.5% move upwards they got yesterday in line with jpmorgan. traditional banking interest rates is pretty solid. 11% of loan growth, 6% of deposit growth. they said that overall view of the consumer is that it's slowly improving and pleased they were able to grow so slowly in that environment on the consumer areas. expense control was pretty good. this is an important area always for bank of america particularly in light of falling revenues this quarter. we're looking at operating expenses at 14.8 billion. al

at the wrg wrells fargo center.ch out for that. >>> the flyers have an uphill battle in the quest for the cup. >> they do, vai, but at least they'll be home for the next two playoff games. >> we're live inside the wells fargo center with a preview of tonight's eauchup. >>> plus within update on a story we've been following since saturday. a man is facing charges in a shooting death of a 4-year-old girl in philadelphia. narrator: looking out for wall street ceos - that's what congressman sestak did. sestak was one of only eight democrats to join republicans to allow ceos of bailed out banks to pay themselves unlimited bonuses using bailout money. an "outrage," according to newspapers. for working families - katie mcginty for senate. she'll invest in education, not ceo bonuses. and fight for pay equity for women. helping families - not wall street. katie: i'm katie mcginty and i approve this message. like steve santarsiero, harrisburg politicians who will say or do anything to advance his career? he claims he wrote pe

the game is at wells fargo center.fans will have a chance to see the flyers on ice but only if you have a ticket already. the capitals lead the series but they've had the advantage of playing at home. that changes tonight. game three and four will be played here in philly. take a listen at what the players are saying about the next step towards the stanley cup. >> back at home and a lot of success here in front of our fans.ç a lot of people don't like to come to philly for the playoffs. it will be good to have that first goal and go from there. >> if you don't have tickets to tonight's game already, you may have trouble getting them at this point. there will be another watch party at xfinity live. that's some place you can check out the game tonight with other fans. there may still be a chance for you to get tickets to wednesday night's game. reporting live at the wells fargo center, pamela osborne, nbc 10 news. >>> now your nbc 10 first alert weather with meteorologist bill henley. >> we have clear skies this morning

we will have a live pre-game show from the wells fargo center at 11:30 before the game.e will have a report from washington coming up in sports in 15 minutes. here from all flyers after a huge win. i'm john clark. back to you. >> thank you. >>> taking right turn now, a girl dice after a fight at school. the clues police are now looking for on social media. >>> plus, we'll tell you about a new type of reality showdown the shore, "the feathered family" that's now monday tear viewing. >>> plus, the president and the prince. the new photos making international headlines tonight. >>> and we still have some showers on the radar. some will be lingering into tomorrow morning. for part of the area, i'll show you which neighborhoods can expect it in your neighborhood weather. that's next. >>> a teenage girl killed after a fight in her high school. tonight police are looking for clues on social media. this as the community mourns. nbc10's drew smith reports from wilmington tonight. >> reporter: as each hour passes the memorial for amy joyner francis grows here outside howard high s

they're focused on last night's 2-1 win at the wells fargo center. it is the first win for the team since the death of their founder, ed snyder. today at the wells fargo center, players, alumni, and fans will fill the seats in honor of mr. snyder for being a trailblazer if the philadelphia sports world. that tribute begins at 1:00 p.m. it's free to the public. doors open at 11:30 later this morning. now, coming up in the next half hour, you'll hear what the flyers' team captain says is behind their win on the ice last night. that's at 5:30. reporting live in south philadelphia, katy zachry, nbc 10 news. >> thank you, katy. >>> also in the next half hour, we'll tell you about this scary moment with flyers play erz scott laughton. and if you can't get to the wells fargo center for the celebration of life for ed snyder, we'll have coverage beginning at 1:00 this afternoon. >>> switching gears, the pennsylvania and delaware primaries are just five days away. >> and three of the presidential candidates will make swings through our region today. bernie san

it's delegate hunter, held by jacob soboroff, fittingly in fargo, north dakota.rough what is happening right now at this convention. >> yeah, ari. i take this delegate hunter position very seriously. and actually, it is a very serious thing we're talking about here. we're talking about potentially 143 to 150 at the most around 200 people whose votes are outsized from the rest of the united states, frankly. the whole point of this convention, and i'm on the floor here in fargo, right now, as the mayor plays a cool video for people as the convention gets under way. is to find unbound delegates. delegates to the national convention who don't have to vote what the popular vote voted. they are vote whatever they want. there is no popular vote in north dakota, just like there isn't in the other states. wyoming, colorado, pennsylvania and u.s. territories. so what we're going to be seeing here happen over the next few days is these 25 people identified, named and sent to the convention. donald trump wants them on his side, just in case he falls short at the 1,237. john

imf, wells fargo, those things.ead of the open, a little bit soft, gas , s&p down4 points 0.2%. let the story is the banks, beat, beat. we have had from bank of america, and that was marginal yesterday. this morning is all about is theup, and it province from the previous year, that is what we got a dig at of these earnings. the cost cut, how long can that continue for. meantime, citigroup dropping 9.2%, having a tremendous week, but it has been pretty tough. banks are leaving the game once again. -- leading the game. vonnie: secret eu report detailing airport security oversights in the wake of the bombings at brussels airport. the confidential documents leading to resignation said the oversight was slow. they also talked about serious deficiencies in the way the tanks are managed. --sident obama will exit the and of the brexit debate. it isesident says important for the british people, but it is also in the interest of the u.s., the u.k., and the rest of the european union to keep the block together. a missile laun

the wells fargo center. game three caps-flyers. the building is open and look at the orange verseties. the capping better be ready. preview coming up in s but sierra club chooses jamie raskin for congress they all talk about climate change. because only raskin wrote laws to reduce our carbon footprint and is leading the fight against fracking in maryland. raskin: i'm jamie raskin, and i approve this message. the nra and its campaign cash are what stands between us and gun reform. "searing tragedy struck in a place parents felt their children were safe" chris van hollen met with nra lobbyists to craft a loophole that would let the nra skirt a new campaign finance law and block gun control. but democrat donna edwards said "no" to the nra loophole and stood up to the gun lobby. and she would ban assault weapons. democrat donna edwards, maryland's next senator. working for us pac is responsible for the content of this advertising. leon: thousands of people took part in the

how many people in fargo run occupant now to get no. 11 jersey?'m sure they got them back at scheel's there, but they're going nuts. >> thank you. >> thank you. >> all right, back to you, jim, carson wentz here ready to go. >> hey, carson, welcome, you are eye to eye, that's amazing, john clark, not every's as tall as you. >> that's right. that's why they hired me, interview tall athletes. >> looking forward to seeing him play down the road. thanks, guys. at 11:00, a boat capsizes, three rescued at sea, a survival story at 11:00. >>> don't forget sunday's the blue cross broad street run, and tonight, ready, set, run, experts show what runners do in the days before the race. we'll show you the best places to watch right along the course. ready, set, run airs tonight at 7:00. >> what a day for the run. >> it is a wet day for it, so, of course, coming up at 7:00 we'll have a very close look at that forecast. in the meantime, here it is, tomorrow, best day of the weekend, low 60s, mostly cloudy. rain, and some is heavy. upper 50s. chilly again. we go

look at the big banners on the wells fargo center. of course, the players say they are dedicating their playoff run to ed snider. it is going to be an emotional start to game three. >> i think everyone's been waiting for this one at home, and, you know, we have to control our emotions early on and it's a nice tribute to ed and fans will be amped up as well. >> it's an emotional time for any fan right now and anyone around the city. i think it's amazing to see how many lives he touched, i think it's going to be fun here playing in front of flyer faithful tonight, amped up, and it will be fun. >> reporter: a must-win game tonight. you don't want to be three games to none. they lost both in washington, and there's a big difference in the special teams. the flyers 0-8 on the power play, and the capitals are 3-8, and the flyers need to do better when they have the main advantage. >> i would say the biggest thing for us is to not deviate from what we've been doing. we're playing well, it's been a tight series, you know, so there is no major

the wells fargo center will open at 11:30 this morning for the tribute. it begins at 1:00 p.m., and it's free for fans. we're expecting flyers players and alumni to take part. the team is keeping quiet about ceremony details so far, but we do know they will publicly honor the life and legacy of mr. snyder. now, fans are on a high after last night's win. their next game is friday in front of the capitals home crowd. team captain claude giroux says the team has a better attitude after a poor performance earlier in the week. >> it's pretty embarrassing to finish a game like game three. it was really frustrating, but this morning we had a lot of meetings. we talked how we want to look as a team, and us frfrustration wa one of them. >> reporter: coming up in the next half hour, you'll hear from fans about what they think is behind last night's win. reporting live in south philadelphia, katy zachry, nbc 10 news. >> if you can't make it to the memorial, you can watch it here on nbc 10. we will be airing the ed snyder service this afternoon at 1:00. >>> 5:34. hap

delta up 1.1% and bank of america up 1.6% and wells fargo down a fraction today.row we have citigroup reporting its earnings as they finish up a busy way of reporting, up 1.75% and charles sh wab will be reporting tomorrow as we wrap up what has been a decent day for the market. >> three big banks and bank of america and wells fargo, earnings were good enough, this is the same thing as jp morgan and loan growth isn't that bad. the important thing is the general commentary has been slightly to the positive side. i'm very excited, the ipo market might finally be starting to thaw out. it's been four months since we've seen a notable ipo. that's global markets and it's an exchange operator, should be pricing tonight for trading tomorrow. they had a technology glitch in 2012 and weren't able to ipo. this is it so it's important for number one the fact they do that ipo several years after the ipo blew up and number two, they are the harbinger of how ipos go in the next few weeks. if they price towards the high end it will be a positive sign. all indications are demand i

katy zachry is outside of wells fargo center.hose memories run deep for flyers fans of all kinds. >> they do, vai. ed snider brought the flyers here to philadelphia and he's credited with forever changing the sports landscape of this city. the flyersç founder passed awa yesterday morning after a two-year battle with bladder cancer. he was 83 years old. by the age of 33, snider mortgaged his home to form the flyers but his vision for sports in philadelphia would not stop there. in the early 1990s he worked with the city and the business community to build what is today known as the wells fargo center. in the hours after his passing, mayor jim kenney share his own memories of ed snider and the hockey team he founded, one that kenney grew up watching. >> my dad worked at the spectrum. he was a firefighter, worked part time at the spectrum. i went to games in 1968 when nobody knew who the flyers were and nobody was in the building. he had the foresight to invest in something that probably ate love people told him was crazy to invest

katy zachry is live outside the wells fargo center. >> right now, you can see behind me, flags are atalf-staff in honor of ed snider, the flyers founder died yesterday morning after a two-year fight with bladder cancer. he was 38 years old. he was ç83 years old. by the age of 33, snider mortgaged his home to form the flyers and bring them here to philadelphia. his vision for sports in this city would not stop there. in the early 1 90s, he worked with the city and business commune to build what is today known as the wells fargo center. his wife, lynn, released a statement that says in part, i am overwhelmed by the outpouring of love and admiration for ed. our time together while far too short was filled with extraordinary moments and wonderful adventures. we loved each other deeply. i will treasure my memories and will miss him greatly. mayor jim kenney shared his own memories with snide. >> he was a firefighter, worked part time at the spectrum. i went to games in 1968 when nobody knew who the flyers were and there was nobody in the building. he had the foresight to invest in somethi

. >>> now to a live look at the wells fargo center for the flyers here. it is win or go home tonight. john clark joins us to break down these two stories. >>> i'm hoping we don't find it. important to keep up to date with all these different viruses. >> preparing for the worst. the zika virus. >>> plus our next chance of rain ahead in our new neighborhood weather. joe sestak supports a plan that the new york timesfactreported makes cuts to social security benefits. and the plan raises the retirement age. it's true. the a.a.r.p. opposed the plan, citing dramatic cuts to medicare benefits. the plan sestak supports means higher out-of-pocket costs for millions on medicare. any way you spin it, the truth about sestak is gonna hurt. women vote is responsible for the content of this advertising. that's what congressman for wsestak did.ceos - sestak was one of only eight democrats to join republicans to allow ceos of bailed out banks to pay themselves unlimited bonuses using bailout money. an "outrage," according to newspapers. katie mcginty- tough on wall stree

nbc 10's katy zachry is live at the wells fargo center with a closer look at ed snider's generosity.ell us more, katy. >> reporter: that's right. i first want to show you, outside the wells fargo center where the flyers play, the flyers flag is at half-staff in honor of their team's founder, ed snider. he passed away yesterday morning after a two-year fight with bladder cancer. he was 83 years ole. he was born in washington, d.c. but moved here to philadelphia in 1964. by the age of 33 he mortgaged his home to form the flyers, the team, and bring them here to philadelphia. his vision for sports in the city did not stop there. in the early 1990s he worked with the city and business community to build what is known today as the wells fargo center. ed snider was also a philanthropist, creating the flyers charities. that group's signature event is the flyers wives carnival. it's raised $28 million since 1977. he also created the ed snider youth hockey foundation, an organization that helps kids who ordinarily would not have the opportunity to play hockey. we spoke with one long-time part

reporting at the wells fargo center, scott abraham.seball, a team the series against the twins. came to work. it is way out of here. ninth on the season and he is really good. right now, they are still playing and the game is tied at four. it is happening tonight. scott abrahams is in philadelphia and will join us at 11:00. anchor: will he be on the show question mark >> he is driving -- on the show? >> he is driving democrat donna edwards knows what it's like to struggle. divorced and without a place to live. raising her son alone. going without health insurance to put food on the table. but donna persevered. then she put that strength to work for us. protecting women from domestic violence. taking on the nra. rejecting wall street's cash. powerful interests don't want democrat donna edwards. that's a powerful reason why we do. women vote! is responsible for the content of this advertising. i don't believe that big money can buy votes -- not in our district. and i won't claim to have single handily passed just about every bill in anna

a live look now at the wells fargo center where thousands will rally in july. today, the media is getting a look at how things will work. nbc 10's pamela osborne is in the digital media center. pamela, mayor kenney says we are fitted for this event. >> remember, the dnc is expected to bring in at least 50,000 people, so you can only begin to imagine the planning that goes into getting ready for a crowd that large. and within the past half hour we got a look at the epicenter of it all and really just got a feel for how everything is going to go during that convention. we were inside of the wells fargo center as mayor jim kenney did his walk-through. he shared a lot of excitement about the upcoming convention, the city and the dnc says everything is going according to plan. >> we've done large events before. we've had the pope for a large scale event. and we've had the rnc here back in 2000, i believe. >> we've made incredible progress. and i'm pleased to report that our convention planning is on time, on task and on budget. >> and that is a good thing. the conve

we're live at the wells fargo center jeff skversky channel6 "action news."guys. >> thank you, jeff. >> thanks jeff. >> time for a check of or traffic situation. >> monday night, matt pelman in the "action news" traffic center. how we looking for the beginning of the week matt. >> getting flyered up that's for sure. we have people heading into the flyers game but also a phillies game at exactly the same time rick and monica. you know what that means. extra traffic on the schuylkill eastbound, extra traffic on 95 southbound. just starting to bunch up approaching cottman avenue. i don't know that i would use the boulevard southbound instead. there are double accidents there at strahle and rhawn. if you are coming south other boulevard stick with the outer drive and just getting word of a crash in bala cynwyd along bala avenue in montgomery by the bmw dealership. awful accident in trenton, still has the northbound lanes of 129 blocked near lalor. 29 or 295 northbound are some better bets n mount laurel a sewer main break blocking hartford roads. briggs road an a

we'll get to the action at the wells fargo center in just a moment but we begin with the latest on the philadelphia police officer shot. skyforce 10 over the scene as officer james mccullough was released from penn presbyterian hospital tonight. police arrested scott griffin earlier today accused of shooting mccullough in the leg last night. nbc 10 was there moments after griffin was taken into custody and the 23-year-old has a long rap sheet having been arrested 14 times before today. nbc 10's denise nakano live at police headquarters with new information on griffin's most recent run-in with police. >> reporter: jacqueline, he'd been sitting in jail for a month just released six days ago for lack of evidence in a preliminary hearing. he's back here in custody at headquarters in homicide while the officer he's accused of shooting is back at home with his family. officer james mccullough got a police escort from penn presbyterian hospital tonight 24 hours after a gunman shot him in the line of duty. nbc 10 on the ground and skyforce 10 in the air during a two-year veteran officer's ride

we're live at the wells fargo center, jeff skversky, channel6 "action news."amie. >> thanks jeff. >>> the nfl draft now 10 days away and so the eagles under new leadership the pressure is on. of course the rams move up to number one. reports are they want jared govern. so is carson went the guy they want. gov and went similar. >> they're very close. similar characteristics as quarterbacks, good height, good size, good arm strength, mobility. they're very similar, smart intelligent guys that obviously are going to play i feel like going to play a long time in the national football league. >> this draft is going to be fascinating. there's so many things they can do. quarterback. >> quarterback. offensive lineman. >> be nice. >> well, what they need. cecily tynan with the accuweather forecast when we continue in just a moment. >> ♪ the tthan the bottom have mo100 million americans.nt how does that happen? well, they use lobbyists to get special tax breaks. my plan -- close the tax loopholes and make them pay their fair share. seniors who've worked hard deserve th

a live look right now at the wells fargo center in south philadelphia. where fans are arriving for a memorial service for flyers founder, ed snider. the service will start in less than an hour. the wells fargo center of course is the home of snider's beloved flyers. >> snider died last week at age 83. he was also the founder of comcast spectacor, and once owned a steak in both the eagles and the sixers. snyder is a member of the hockey hall of fame, and the philadelphia sport hall of fame. he is survived by his wife, six children, and 15 grandchildren. the flyers are wearing a patch for snider's initials for this year's stanley cup playoff. >> and, we will stream the ed snider memorial live on our website cbsphilly.com starting at 1:00. >> meanwhile, snider's flyers are prolonging those stanley cup playoffs. the home team rocks the wells fargo sent with clutch win over the capitols in front every pretty rowdy crowd. >> this was frightening, the flyers scott went head first into the board, in the first period. he spent the night in jefferson hospital. the

we're all ears. >> longtime wells fargo bank debit card holders may have money coming their way. ten years ago the bank lost a class action lawsuit that acc e accused it its misleading debit card holders, accused of sub trakting the highest charges first on the debit card followed by lower charges. it had the effect of multiplying the number of overdrafts each of which carried a $25 to $35 fee. for about a decade now, the bank has been fighting the ruling. they lost. and today the supreme court let stand a $203 million verdict. i'll keep track of this and report when a payment plan is finalized. >>> automakers enjoyed another solid month of new vehicle sales in march, but there are concerns about rising discounts and slowing sales. auto companies sold more than 1.5 car million cars last month. ford sales topped the list with more than a quarter million vehicles sold. general motors came in behind ford but sold more than 250,000 cars and trucks. now, these near-record sales mean more used cars will be available and right now, prices are down about 3%. they're expected to drop to 4

flyers try to avoid a sweep when they hit the ice tomorrow at the wells fargo center. >> we made thety of philadeláhia our city. >>> coming up in the next half hour, we'll be live at the wells fargo center with more on the game an a special ceremony in honor of flyers founder and chairman ed snider. >>> in other news now, 5:08. a new report answers some questions about this month's deadly amtrak derailment. federal investigators say the backhoe was authorized to be on the track. the ntsb says the track the backhoe was operating on was shut down for maintenance periodically over a four-day period. experts point to communication failures as a possible reason for the crash. >>> now your nbc 10 first alert weather with meteorologist bill henley. >> 82 degrees yesterday afternoon. today, not so hot. but it's going to be a nice warmup, in spite of bright sunshine. the wind will be blowing. the temperatures instead of 80s like we saw yesterday afternoon will be in the middle 70s. the wind that's blowing today is going to bring in even cooler air for tomorrow morning. not much relief. the po

wells fargo is taking on the chin for the most part. not so wells fargo.he wells fargo ceo richard kovacevich. very good to have you. >> pleasure to be with you, neil. neil: what you make to the reaction for us to wells fargo, wells fargo, but more collectively to banking interest rate that is due for a combat this quarter because it has such a lousy first quarter. >> let's put it in it. there's been practically no revenue growth in the banking industry the last few years. it's been about 2% far below what usually occurs after recovery. we have zero interest rates which we never had historically for seven years. also there's been an incredible increase of regulatory compliance costs, security, cybersecurity investments, et cetera. but despite those headlines come in the last couple of years have been record earnings for the industry. balance sheets of the best they've ever been. more capital than ever. but from this record earnings, the only way they are going to grow from the record earnings as if revenue increases and feel that way the revenue will incre

'90s he worked with the city and the business community to build what is today known as the wells fargoenter. now, snider's wife, lynn, released a statement that says in part, i am overwhelmed by the outpouring of love and admiration for ed. he was a man of tremendous vitality. at the core he was a wonderful family man. and he was an integral member of the philadelphia sports family. here is how fans are remembering ed snider. >> the fact that he was the owner of the team, it went a lot deeper than that. >> he represented the passion that this city has. >> reporter: and coming up in the next half hour, philadelphia mayor jim kenney talked about what the passing of ed snider means to him. and how really being a flyers fan for the kenney family was a family affair. we'll get to that coming up in 25 minutes. live in south philadelphia, katy zachry, nbc 10 news. >> katy, thank you. >>> take a look at the front page of this morning's "philadelphia daily news." it features ed snider with his name inserted into the word legendary. the back page is ed snider walking down the corridor to the hoc

but remember something, you see wells fargo down a little bit.a big run-up this week, up 4% going into the open today. so, a lot of these stocks have moved up in anticipation of earnings. regions and citigroup will be reporting later this week. as far as specifics on the bank of america earnings, a little discussion already, but i think it's very important, long growth 11%. that's a pretty good number. deposits up almost 6 partly clou cloudy -- 6%, pretty good numbers. energy reserves, everybody's worried about losses in the energy group. $500 million, added to reserves, so now they have about $1 billion in reserves. that's about 4.6% of their energy exposure, pretty high reserves here. similar with wells fargo. total loans up 10%. those are good numbers. again, they have very high energy exposure, so everybody's looking at these reserves for energy, potential losses in energy, $200 million. so, total reserves are now pretty high here for them as well. remember something about all of this -- as oil goes up, the chances that there will be large an

>> stephen: sir, "fargo" is a classic!ormance by frances mcdormand and that sort of weird-looking guy who always plays the loser whose name i forget. >> william h. macy. >> stephen: that's the one. >> you assured me it was a great movie, and i should probably rent it. so i did. i walked right over to that shelf where you have the general titles and grabbed a copy and brought it over here and showed you my membership card, and i took the movie home and put it in my vhs player, and it appeared on my television, and i watched it! ( laughter ) ( applause ) >> stephen: you really know how to paint a picture with words. sir, i know you're upset, i understand. i'm going to ask you to tone it down, or i will kick you out of the store using my brand new, bright-orange shoe. >> wow. those are memorable shoes. >> stephen: oh, yes they are. you'd recognize it was me even if you only saw them on my leg sticking out of something. now, please finish your fascinating story. >> my wife and i looked at each other and thought, "what the heck

the flyers are back in south philadelphia as their series with the capitals moves to the wells fargo center and we are getting ready for game six and we'll have a special preview that will have details for you coming up. >>> good morning and welcome to nbc 10 news today. i'm katy zachry. it's 7:00 a.m. sunday morning. the flyers are in town. we're off to a chilly start but it will warm up so hopefully that bodes well for the flyers game at noon today. this is from our comcast northwest camera. a chilly start for sure but temperatures will warm and they may get warmer tomorrow. karen thomas is tracking conditions where you live with our new neighborhood weather. karen, tell us. >> all right. we are looking at plenty of sunshine for sure, katie. that's good news. remember yesterday morning? boy it was soggy. then we had the sunshine late in the day for some areas, early evening last night. today nothing but sun. temperatures are on the chilly side but we're enjoying the blue skies. 47 degrees with mostly clear skies in philadelphia. you can see the live camera shots depict ago beautifu

we will look forward to wells fargo. howard lindzon is with us.ms, a conversation with dennis lockhart of the atlanta fed. good morning. ♪ ♪ tom: good morning. bloomberg "surveillance." a quick report. mark carney in the bank of england coming up on a busy day. yen weakness, euro weakness, dollar strength. one to two point 96. christine harper will be with us to furer analyze wells fargo and the bank of america. the stock is very non-dimon. yesterday wells fargo jumps and pulled back. $21 billion us energy exposure. the u.s. economy is $17 billion. is that a big number? trillion -- sorry, getting my zeros next up. -- mixed up. christine: it is probably just an exposure number. if they lose $21 billion, that is a big number. they have a loan book that is substantially bigger. what is the distinction between the business plans. what does brian moynihan try to accomplish? christine: simplistically, what nothey have that they do have a jpmorgan? a thundering herd of merrill lynch financial advisors, which, if you think back to the dark days of the cri

pamela osborne is at the wells fargo center. upset but this seems like another black eye for philadelphia fans. >> reporter: you're absolutely right. not the images they wanted people to see, that game broadcast live on national television. this was the first game since the passing of founder ed snider and the flyers honored his legacy last night at the game. but some fans actually used that to disrupt things. when flyers fans arrived last night, they were all given bracelets for the ed snider memorial. it wasn't long before some fans began throwing those bracelets on to the ice. it got so bad, even an announcer had to take a moment to scold fans for their actions. and at one point, during the game, a capitals player was hit in the face with one of those bracelets. >> that's philadelphia for you. what do you expect? we're a town that booed santa claus for goodness sake. >> i think people take it a little too seriously. we're passionate. that's what we do. >> i can see why they were upset but it is what it is. life goes on. maybe

let's talk about some of the big ones like wells fargo, jpmorgan. jpmorgan, solid performance at their consumer unit. investment banking not so. >> well, i think that's what you can expect to see for the rest of the earnings season. in other words, the traditional banking business in the united states is actually doing really well. loans are growing at above average pace. interest rates did go up in december, which means that margins are going to be higher. and loan losses, other than what you have in the oil sector, are going to be relatively low. on the other side, everything that's going on in the capital markets business is not doing well. trading is very weak. investment banking is weak. asset management is not doing well. i think looking forward for the remainder of the year, you should expect to see that traditional banking will continue to do well, which means regional banks will do well. it's a toss-up concerning what's going to happen in the capital markets arena. >> so this spills over. this isn't just about jpmorgan. you say in your note

doors at the wells fargo center open at 11:00 a.m. the event begins at 1:00 p.m. >>> a group is pushing brigham young university to change its honor code because reporting sexual assault could get a victim in trouble. >>> packages of meat go flying out the window during a high-speed chase in texas. >> reporter: it's cool out there this morning, temperatures in the 40s, we're dressing the kids in a sweatshirt on the way, and this afternoon warming up again. we'll give you the change and the rain tomorrow and the weekend call all ahead. >>> happening today arc, a chester county mansion that was built in the 19th century goes up for auction. the home sits on two acre plot of land 700 lincoln pike in east whiteland township. the minimum bid is $250,000. ment caveat if you go owe over there, the backyard is an enormous home depot parking lot. it is blocked? >>> build a wall. >> reporter: storm tracker 6 live double scan shows you we've got no rain this morning which is nice, you head outside, we are looking at the moon. we'll see sun early

an escalator suddenly sped up at the wells fargo center, home of the fliers. after they won. fans were sent tumbles. nobody was seriously hurt. the team has not said what caused the malfunction. >> despite the bitter weather in parts of the east. a soon of spring today. baseball is back. pirates/cardinals in pittsburgh. first game of the regular season. game time temperature, 35 pirates won 4-1. >>> there was a small disruption on the san francisco bay bridge today. very small. that is a chihuahua being pursued by a motorcycle officer. they eventually picked the dog up. he is now in the care of an animal shelter. traffic was shut down there just a little bit. police say if there is your chihuahua, please come forward. >>> still ahead here, the new on steroid. >>> thing drones and the first words that come to mind may be spying or secrecy, not sports. that could be changing. across the country a new kind of competition has taken off. and 60 minutes sports got an up close look. this is what drone pilots see as they speed around a course. it's what makes drone racing so addictiv

that will be touched upon today here at the wells fargo center. and also we're expecting that maybe we'll see some hockey players from past teams as well. the program has not been formally announced, and again, the doors open for this public service coming up at 11:30. but the service doesn't begin until 1:00. one of the reasons you see many people lined up is they want to make sure they get inside and pay their respects. deana duranty, nbc10 news. >> deanna mentioned the building, wells fargo center, the regional sports network, all of those things, two stanley cup championships. but it was that hockey league foundation that he was most proud of, and one he felt would be his legacy. if you can't make it to the memorial, watch nbc10. we'll be airing the ed snider service this afternoon at 1:00. >>> and plenty of sunshine across our area this morning as we take a live look outside at center city, philadelphia. schuylkill right there. chief meteorologist glenn "hurricane" schwartz is here with our forecast. >> yeah, another beautiful, sunny day. at

blackrock and wells fargo seeing a decline.re was all this optimism yesterday surrounding to morgan after those numbers came out beating estimates after many analysts had cut estimates going into these reports. i want to point out, the movement we have seen recently in the s&p financials. the have risen for five straight sessions, even though we are seeing a little bit of it line. they rose for four straight sessions and undecided where they will end up on the day today. this gives you an idea of the momentum going into the earnings report. as we talked about yesterday with j.p. morgan, the bar had been set so low that the perception was it was going to be easy to jump over for j.p. morgan. that is not necessarily going to be too for all of the banks. betty: indeed. the numbers- we had yesterday, but we had inflation data this morning. kind of muted, the reaction. exactly. that is what we are seeing. even the you could argue that the data we got on inventory was somewhat negative, we got data out on the iea talking about oversu

alison: wells fargo said they were 25% through their redetermination process.s more to come. we will see continued weakening. one of the things that investors are concerned about, we are starting to see the credit cycle turn. we saw wells fargo releasing reserves. filled reserves since 2000 and. -- since 2009. citi and bank of america still releasing a little bit. we are seeing the cycle turn, but not seeing weakness outside of energy. that has been a key positive. it is not spreading to other sectors or loan categories. lisa: the ones who really provide companies with their credit lines and do a lot of the underwriting -- next week, we have a lot of the broker-dealers, the market based morgan stanley's and goldman sachs's of the world. what are you looking for? alison: from an industry perspective, we want to hear about their outlook. what are they hearing from their corporate clients? how are the ceos feeling? the deals have stalled and people have been hesitant. fees that haveg gone down, 50% decline in equities this year, but we are starting to see the ipo

i'm scott abraham live at the wells fargo center in philadelphia. the washington capitals are rolling. nothing the slow down the team except for the injury bug. defense man orpik ruled out for game four. goalkeeper holtby left the practice early after colliding with a teammate. the washington capitals receiving a scare today. braden holtby's health now in question. >> basically just got nicked up a little bit. went off. we'll see where he is tomorrow. i don't anticipate braden not playing. >> get tweaks in the teams with a 3-0 lead advance 98% of the time. >> is there a sense of urgency to finish the deal? >> yeah. the fourth game is hardest to finish off. we got to make sure we have killer instincts. >> the caps will be ready for anything tomorrow night. it will be a desperate team. caution to the wind. do you prepare differently for a team like that? >> no. we are a team to play every style. if it is a close game we can play that. if they bring the physicality we can handle that. one of those things. you have play the game in front >> determined t

only jpmorgan and wells fargo. bank of america is at an 8% discount. morgan stanley at a 10% disdown. it makes sense that they are the most expensive. wells is in the strongest position to handle the interest rates. it is why they have kept rally since they reported it. even though there's no sign of it. when you see this dislocation from book value, it means a couple things. it will get a lot worse or the market is making a mistake. i think it is a mistake. especially since thing seem to be getting better for morgan stanley, citi, and bank of america. it seem nuts that it is a 10% discount. i think the stock will only close that game which means it is going higher. this is a 12th quarter for invest. banking which means the next one should be better. while bank of america has a lot to be desired, it shouldn't be this cheap. bottom line, any way you slice it this was a rough quarter for the banks. they didn't deny it. they didn't apologize or make excuses. the banks are focused on the future and some are darn cheap. especially now that the banking busin

morgan and wells fargo in a cost-cutting push as slums in trading and deal making their toll. spain's industry minister becomes the latest casualty of the scandal for now. welcome to "the pulse" live from bloomberg's european headquarters in london. i'm francine lacqua. let's get to the markets, global equities holding near a high for the year. 600.is a picture for stoxx i wanted to show you automakers. folks like an -- volkswagen's market share reached a low. we have been talking about it all week. it did see a little bit of weakness. a sign of relief for governor kuroda. let's get straight to the bloomberg first word news with nejra cehic. nejra: thanks, francine. goldman sachs is said to be advancing on its biggest cost-cutting pushing years. according to people with knowledge of the effort, ceo lloyd blankfein is calling for the push which includes firings and curbs on travel and entertainment expenses. bonds are inyield the midst of their worst two-month selloff since 2014. investors say they have yet to fully price in the risk of default. speaking in washington, the gove

it was inspected by wells fargo so they could release the check. we've laid out minute to our contractors and here we are. >> now here he is saying better get baquero to help track down the money. >> my wife loves your show. we watch channel 4 news. so we thought this might be a way to go. >> so we contacted wells fargo and problem solved. immediately they mailed checks for the full amount of the claim and verified that he received them. they tell us their research indicates the fund were not distributed as quickly as they should have been and they apologized for any convenience. >> how often does something like this happen? how common of a problem is it? . >> it's not very common at all. normally if you have a mortgage both you and the mortgage company on the check. there was an unusual delay here. >> very good. thank you. >> remember to get in touch with our consumer investigative team. send an e-mail or call us. remember from now on everyone who reaches out will get a response. >>> an 84-year-old new jersey woman who suffered from dementia now s