that may be helping wells fargo. which we all know had underperformed for a long time and now has been outperforming. >> what is that expression, guy, cutting the flowers to trim the weeds or vice versa. >> don't cut your flowers if you have weeds or don't smoke weed while your cutting your flowers. >> that is not what i said that is not what i said. >> the question is, did mr. buffet sell too soon guy? >> well, it is interesting, i think wells fargo traded north of 40 during that time period. so, yes in retrospect, he did. the obvious answer is yes. but i think wells fargo is a weed by the way. if you look, bank of america is trading north of two times tangible book. wells fargo is about 1.4 wells fargo should trade in my opinion on a benign take closer to tangible book than the rest of them. so in the parthenon of banks it is a weed. jp morgan is a bouquet of roses. >> parthenons don't have -- that is all wrong >> but you know what i'm saying. >> unfortunately i do, oddly brian kelly, which trade do you like or dis

i believe our country and communities benefit from that strong wells fargo. i am proud that we have been a source of strength for our customers and communities during the toughest of times. they must remain our priority in all we do. to support our customers during the pandemic, we deferred payments, waived fees for three point 7 million consumers, small business accounts, to help people make ends meet. we provided over one million workers forbearances and suspended residential property foreclosures and evictions to keep americans in their homes and active as a leading lender in the protect -- paycheck protection program funding a to small businesses. over 40% of our loans were made to businesses located in low to moderate income or majority minority -- recognizing that the goal of the ppp was to provide a lifeline to struggling small businesses, we took more than 400 millions in fees generated by the program and between 20 and donating to the open for business find allowing us to engage cdf eyes, not for profits and others to help businesses manage the econo

wells fargo? >> sure. for the loans we own, we have extended our moratorium for foreclosures and evictions until the end of the year. we've also come out and supported the cfpb's proposal to extend the moratoriums to apply to the whole industry which would impact the loans we service. we encourage other agencies to align with those policies. for those were exiting forbearance, i would say the most important thing is we have a very aggressive outreach through all communication channels. we have many modification programs available for cu

there talking to wells fargo -- they are talking to wells fargo. >> as we begin taking steps towardsovery, i am proud of wells fargo's efforts to support the communities we serve while continuing to transform our organization. i believe our country benefits from a strong wells fargo, and i am proud we have been a source of strength during the toughest times. they are our core and must remain a priority in all we do. to support our customers during the pandemic, we deferred payments and waived fees to help people make ends meet. we provided over one million mortgage forbearances and suspended properties on the foreclosure to keep families in their homes. we funded aid to small businesses. over 40% of loans were made to businesses located in majority minority neighborhoods. we recognize that the goal of ppp was to -- we are donating them to are open for business fund, which is allowing us to engage not for profits and others to help manage the effects of covid-19. we will continue to do our part working on solutions for under banked individuals. we look forward to defeating the impact

the mgm tv studio has come out with good stuff with handmaid's tale, with fargo.have that firepower to attract a bunch of new subscribers. lisa: true story. i lived in fargo which dovetails to our conversation with the north dakota senator. there is a question of whether this is too high of a price at a time of such incredible emphasis on content. we are coming out of a pandemic where no one else had anything else to do. is there a sense some of the content is being bid up too high? >> i do not think so. i think this is an arms race. content creators need space. the price of content has gone up dramatically in the past few years. it will go up more and more because this is how you attract subscribers. it is the name of the game when we come to streaming and media. we can only expected to go up a little bit further. tom: publishing today on amazon for bloomberg. they are moving at light speed. all of the negativity in the amazon annual meeting and shareholder rights issues and the politics of washington, all of these companies, every date they are moving forward wi

ahead -- from wells fargo as head of u.s.-cap bank research. this is all anybody is talking about, and you are the one to give perspective. can a duo run consumer banking? they are going to try that a jp morgan. is it feasible? mike: i am never a fan of dual heads. having said that, jp morgan cultivates a culture of collaboration, so whoever collaborates better is ironically the one who could ultimately win. we have two women who are in contention to take jamie dimon's job. having said that, you know when jamie dimon retires? n+5. add five years to whenever you ask him the question. [laughter] but you do have two women and kill heston -- women in contention. tom: this is absolutely original stuff. to your research note, which stopped wall street a few days ago, how will the dominant jp morgan consumer franchise adapt and adjust to automation, to digital banking and the rest that you highlight? mike: it is a microcosm of the larger industry, and for you, tom, i am going to the greek philosopher plato, who said necessity is the

citibank, bank of america, chase, and wells fargo. the four banks that collectively manage tens of millions of checking accounts for customers. while you automatically and at no cost got complete protection from overdraft fees at the federal reserve, could you please raise your hand if you gave the same automatic protection to your customers and automatically waived all of their overdraft fees? i'm not seeing anyone raise their hand. that is because none of you gave the same help to your customers that the bank regulators extended to you. help that the bank regulators recommended that you give. let me focus on this a little bit. let me ask the question about whether or not any of you who did not automatically waive, let's take a look at who actually paid these fees. according to pew charitable trust, it is disproportionately working people making less than $50,000 a year, african-americans, hispanics, people who are struggling to get by. how much did they pay in overdraft fees? they paid a combined $4 billion. mr. dimon, you are the s

as well, how does wells fargo select pricing power winners? chris: we lean on our fundamental analysts a lot for that. we go through transcripts and look at who is talking about pricing power. we are seeing pricing power in the chemical space, in the industrial space. really, what you mentioned before, something we have to say out loud is the consumer is a price taker at this point in time. they what what they want, and they are willing to pay. they are willing to pay up for the next level, whether it is a new car, a washer dryer, what have you. tom: this is a differentiated conversation about compelling pricing power. if that is the case, and no kidding aside, does that mean you get sustained ratios because you have compelling pricing power? chris: for now. we looked at margins. we look at pricing power. what we are seeing with corporations is they are bringing to the bottom line the consumer, the end buyer is willing to pay up. they have the cash to do it. demand is outstripping supply. we think this continues for some time. as far as our ex

wells fargo, 4. to that end, it's worth noting that the reports condemning the coal industry, only mention china in terms of carbon emissions. ms. fraser, quick question for you. coal and drilling for oil and gas, is that illegal? >> no, it's not illegal. >> are you taking similar actions in china to what you're doing in the united states by boycotting specific industries and putting pressure on companies to change their business model? >> we are supporting the clients that we serve, multinationals and at local companies, to make the transition to lower carbon technologies, mindful that different industries are at different stages of doing so. >> so you're probably not, is that what you're telling me? >> correct. we -- >> mr. gorman, morgan stanley, they've got about $4 million. same question, is mining goal and drilling for oil and gas, is that illegal? >> no, it's not. >> are you taking similar action in china that you're doing here with boycotting specific industries and putting pressure on compan

and physically unharmed this morning after being held hostage for more than eight hours at a wells fargo bank in minnesota. police say they have arrested a man identified as ray mcneary in connection to the incident which started thursday afternoon >> we got air 911 call from the wells fargo branch on the south side of our city apparently there was a male customer who was disgruntled about a prior transaction with the bank and a prior dispute. >> mcnear ri who has had previous contact said to call the fbi. no injuries were reported. >>> now to a terrifying incident at an idaho middle school. police say a sixth grade girl pulled a handgun out of her backpack and shot two students and a staff member a teacher was able to take the gun and held her until she was arrested all three victims are expected to survive but may need surgery. >>> it was a harrowing morning for school children near columbia, south carolina a u.s. army trainee got on the bus with a rifle and held them hostage. the rifle was not loaded and believe it was all a desperate attempt to leave training and get home to new jers

margaret patel is with us, from wells fargo.m fascinated by taking the middle ground in this time of polarity, cyclicals versus tech and the rest of it. what is it like, managing a diversified portfolio, to a middle and balanced outcome? margaret: right now, i think over the next year, growth from all asset classes are going to be pretty muted. stocks may be missing, and the bonds in the single digits. we are looking for low volatility, short-term churning not giving you any real insight. jonathan: when you look through the bond yield curve, what i have identified every time we get a did a surprise for upside or the downside is it seems to be a lot more movement in the belly of the curve. why is that? what is the dynamic at play? margaret: i think because the short end in the long end are controlled by the fed, the only way you can really -- is in the middle part of the curve. i like the 10 year because it is still in the whole middle of the curve, stuck in the trading range. jonathan: how would you express that move? how would

a man takes employees hostage at a wells fargo. how it all ended after a nerve-racking eight hours. >>> at this point we don't have a plan to shoot the rocket down. >> heads-up. an out-of-control chinese rocket is reentering earth's atmosphere this weekend, but the exact timing and where its debris will timing and where its debris will land remains a mystery. captioning funded by cbs >>> good morning. good to be with you.e naing a s covid. the for daily cases is now at the lowest point in seven months. this as we get encouraging news in the race to vaccinate america. moderna says its latest vaccine trials reveal its shot is 96% effective against the virus in kids ages 12 to 17. laura podesta has the latest developments from new york. laura, we could get some news about pfizer, as well, next week. >> reporter: that's right, good morning. pfizer's vaccine is expected to be approved for children ages 12 to 15 early next week. this could be a game changer when it comes to schools reopening and summer activities. covid-19 appears to be

. >> reporter: fbi agents and police rushing into the wells fargo bank to arrest a suspect seconds aftertage appeared to free himself. police in st. cloud say it all started before 2:00 p.m. on thursday when they responded to a possible robbery. >> there was a male customer who was disgruntled about a prior transaction with the bank. short time later we received a panic alarm indicating that a bank robbery was in process. >> reporter: after more than four hours, one hostage was seen leaving the bank with her hands up. >> there goes another one. >> reporter: bystanders clapped as another hostage walked out followed by two more. richard reeve with our mince affiliate was there. >> different reactions. one woman looked very relieved. one woman appeared very angry. a guy -- the guy who came out had his hands up like, oh, thank goodness this is over for me. >> reporter: the dramatic conclusion nine hours after it started holding a hostage near the bank's entrance. that hostage then leaping out of the door allowing law enforcement to rush in and storm the bank. >> oh. whoa. what was that? they

what they cannot account for, that's what matters joining us tonight ron johnson, kt mcfarland, wells fargoconomist, larry trump, texas congressman and national border patrol council president brandon judd, we have a lot b of headlis here tonight, dr. fauci in the nih director avoiding what they already admitted, they contract, they can't account for how china spends its money and what it'sot doing with super viruses, also dr. fauci did not testify on how he has supported the creation of a laboratory virus that does not exist in nature in order to get vaccines, we are following the money trail why are democrats blocking republican demand to hold hearings on all of this we have growing on circumstantial evidence 19 diddly from the wuhan lab in china, why are they blocking they do not want to admit the former president trump might be right? also tonight there media dramatc flip-flop a year after they trashed donald trump, after they trashed tom cotton, seen in the new york times, washington post and other media warming to the idea that it may have leaked a scientist and government officials a

the big bank beat down, the nation's big bankers taking serious heat today on capitol hill, wells fargo, morgan, bank of america, kicking off two days of testimony before congress check out this exchange between senator elizabeth warren and jpmorgan ceo jamie diamond >> how much did jpmorgan collect in overdraft fee from consumers in 2020. >> your numbers are inaccurate we'll have to sit in private -- >> it's a private -- can you answer . >> it's a -- how much in fact did jpmorgan collect in overdraft fees from customers in 2020 do you know the number >> i do not know. >> i have the number $144.63 billion. >> we waive the fees for customers upon request if they were under stress under covid. >> you can fix that right now, mr. diamond will you refund $1.5 billion you took from consumers during the pandemic. >> no. >> not pretty. tim, what did you make of today's hearing? does this hearing tell us even though banks did a lot of work during the pandemic they came out with very good balance sheets out of this pandemic, out of this great recession that they still got targets on their backs >

anna han, wells fargo securities equity's strategist joins us now.l like we laid out a bunch of different reasons for why we are seeing a selloff today. what are you thinking? anna: you're getting that knee-jerk reaction, like you said. there's some concerns about how long can the vaccines last you. can we get herd immunity reached? all of these expectations that have been built-in, you get a news headline and you are seeing people kind of falter and shake. the big picture, keep in mind, gdp is expected above 6% this year. that is a hefty number, and that is going to help equities generally move higher. guy: but isn't that priced and? i look at pfizer to -- priced in? i looked at pfizer today, and they are raising their forecast, and he stock is down. there's a lot of good news already priced in. anna: you bring up a great point. when you look at the q1 earnings season, you are seeing a sell the news phenomenon going on. it seems like expectations are up there. but at the same time, it is good news helping push up those expectations. to see that eps

we look forward to defeating the impact of the pandemic together and believe wells fargo will play anortant role in helping rebuild a stronger america. to our employees, i'm proud of the work you've done over the past year to support our customers and communities during the uncertain times. we prioritized safety and well being. my deepest gratitude to our frontline workers who kept branches open safely we transitioned more than 200,000 employees to remote work and we understood the strain the pandemic would place on our employees and their families we made cash awards to employees. offered enhanced support for care givers and parents. provided free covid-19 testing for those working in a wells fargo location and offered paid time off for appointments. we continued to invest in the institution's critical to their success. while we're encouraged to be seeing signs of improvement, we realize not all our communities are benefitting equally in the recovery this is why wells fargo has been working to support a more inclusive economic recovery with a focus on racial and social equity, econom

here to talk about it all wells fargo senior economist mark vitner is back with us.at they're doing. what do you say? >> i guess the honeymoon is over. this is coming from the left as well. i, you know, right now the focus is getting the economy back to normal and we have, we're about 8.2 million jobs shy of where we were pre-pandemic and most of that short fall is in high contact areas of the economy like restaurants and bars and whenever you go into one of these places right now, they tell you hey, we're so short staffed, i was at a restaurant today. they said, yeah, people are really gaming the system. they don't want to come into work. they come in, say they will work and don't show up. when you focus on getting people back to work that is probably the, job number one right now. elizabeth: yeah. so jason furman, who was obama's top economist, he is now at harvard, did a study, mark, with other individuals and experts who they said, listen you can't pay people to stay at home with bigger and jobless benefits because you will not get the job growth at a time of a p

cloud, minnesota, right now there's a hostage situation unfolding at a wells fargo bank.are there. a wells fargo spokesperson confirms there are hostages inside and here's the video we have, there's no word on how many people are in there, whether there are any injuries, but it is confirmed to cnbc that a hostage situation is playing out live at this moment. local media reports at least one hostage appeared to be allowed out of the bank, hands in the air, holding cash. police are telling people to avoid this area. again, a hostage situation, you can see the wells fargo there, in minnesota we're waiting for more details and when we get them, we'll put them up for you at cnbc.com. >>> and now you know the news for thursday, may 6th, 2021. i'm shepard smith. follow us on instagram and twitter @thenewsoncnbc (computer beeps) (shaq) magenta? i hate cartridges. not magenta, not magenta. i'm not going back to the store. magenta! cartridges are so... (buzzer) (vo) the epson ecotank. no more cartridges! it comes with an incredible amount of ink that can save you a lot of frustrati

cloud, minnesota, right now there's a hostage situation unfolding at a wells fargo bank. are hostages inside and here's the video we have, there's no word on how many people are in there, whether there are any injuries, but it is confirmed to cnbc that a hostage situation is playing out live at this moment. local media reports at least one hostage appeared to be allowed out of the bank, hands in the air, holding cash. police are telling people to avoid this area. again, a hostage situation, you can see the wells fargo there, in minnesota we're waiting for more details and when we get them, we'll put them up for you at cnbc.com. >>> and now you know the news for thursday, may 6th, 2021. i'm shepard smith. follow us on instagram and twitter. unlimited premium data that can't slow down based on howtphone data you use. plus netflix on us and taxes and fees included. only at t-mobile. the leader in 5g not everybody wants the same thing. that's why i go with liberty mutual — they customize my car insurance so i only pay for what i need. 'cause i do things a bit differently. wet

cloud, minnesota, right now there's a hostage situation unfolding at a wells fargo bank.ages inside and here's the video we have, there's no word on how many people are in there, whether there are any injuries, but it is confirmed to cnbc that a hostage situation is playing out live at this moment. local media reports at least one hostage appeared to be allowed out of the bank, hands in the air, holding cash. police are telling people to avoid this area. again, a hostage situation, you can see the wells fargo there, in minnesota we're waiting for more details and when we get them, we'll put them up for you at cnbc.com. >>> and now you know the news for thursday, may 6th, 2021. i'm shepard smith. thank you for trusting us. thank you for tuning in, and thanks for stayingun ted for "shark tank," because after the commercial, you got it it just can't get any better. oh wait... yes it can. do what feels bright... enjoy a medium dunkin' coconut refresher for $3. order ahead plus earn rewards. america runs on dunkin'. are you managing your diabetes... order ahead plus earn rewar

guys >> i was going to say, they just timed the selling of wells fargo so badly as we discussed becaused another 22%, 23%. essentially they finished their selling and sold 99% of it in the quarter. even that at least would have been in the 30s probably versus some of the selling they did last year below 25 but definitely not a well timed one and probably a factor behind why wells fargo has continued to rally, perhaps rallied the most of the big banks since the end of the quarter as one of those big sellers it's had soesz to be a seller because it's left in total. very interesting one, leslie, thank you very much for bringing us those. >>> up next, the ceo of imax on whether we could see a box office boom this summer. we will also discuss his views on the latest mega media merger. in business, it's never just another day. it's the big sale, or the big presentation. the day where everything goes right. or the one where nothing does. with comcast business you get the network that can deliver gig speeds to the most businesses and advanced cybersecurity to protect every device on it— all bac

wells fargo said have a cathartic debate on terms of when the first rate hike micon.ould it be that the taper and hiking come sooner than expected? the rupee trying to find its feet as the central bank governor reassure the market that there is a backstop with policy and that there will be special lending mechanisms in the indian market. the oil market up .8%, despite the covert crisis in india. you're seeing inventories in the united states almost 7.7 million barrels. united states same to have -- you need 70% to get vaccinated to be done by july 4. so that's the latest in the oil market. siemens energy missed on some of their estimates for the second quarter. they've trimmed the full year forecast. the latest sign that the world is going green. the energy ceo, good morning, good to see you. this is a little bit of a wake-up call from the world. is it going to get harder and harder for you in terms of your order book on the fossil fuel side of the business? good morning. christian: good morning, thanks for having me. i think it demonstrates exactly the path we are on

a man takes employees hostage at a wells fargo.all ended after a nerve-racking eight hours. >>> at this point we don't have a plan to shoot the rocket down. >> heads-up. an out-of-control chinese rocket is reentering earth's atmosphere this weekend, but the exact timing and where its debris will timing and where its debris will land remains a mystery. captioning funded by cbs

mother—to—be since as the most indominantly badass mother—to—be since francis mcdormand's marge gunderson in fargobut distracting popcorn fair tailor—made to be seen on the big screen. on the subject of indomitable women, sigourney weaver achieved iconic status as ripley in the alien movies, a role which earned her an academy award nomination. she's had two further oscar nominations for working girls nods for working girls and gorillas in the midst, and starred in such varied fair as ghostbusters, the ice storm and the cult sci—fi spoof galaxy quest. in her new movie my new york year, from the 2014 memoir by joanna rakoff, weaver plays old—school literary agent margaret, whose most high—profile client is reclusive catcher in the rye author, jd salinger. well? i like it. really? but what do you make of it? i'm not sure what you mean. well, it's not a kids�* book, is it? no, no. it's about kids for grown—ups. it's about female friendship. but will adults buy a book about kids? can i sell it? into margaret's agency comesjoanna, a college grad played by once upon a time hollywood costar margaret ouall

wells fargo.. >> i know. >> wells fargo is charlie sharp. he's going to be able to return the most capital -- >> right which is soon. >> end of the month. end of the month of june >> yeah. >> wells fargo, quietly, charlie shar of, who says absolutely nothing. we call him charlie in the business he is just quietly making that bank -- remember it as, except not with warren buffett, who bailed >> all of it >> all five of the s&p leaders are either cruise lines or airlines and the nasdaq has cut its may loss to less than 2% here is bop pisani >> we're in the middle of a modest melt up dow up almost a thousand points in four days and we're 15, 20 points from an historic high in the s&p. the rally is broadening out. it is not just tech stocks the sectors, on the bank, modest new highs. not a lot. citigroup. morgan stanley lot of travel names. all the consumer discretionary group. retail strong too. the banks and if financials are the biggest sectors in financials and staples and defensive group are lagg

we're reaching out on these particular headlines, still keep e owes fargo.s. we're good. the remarkable gx and lx. get 0.9% apr financing on the 2021 gx 460. experience amazing, at your lexus dealer. today as the firm market access announced a new initiative to help minority, women, and veteran owned business owners get access to large asset managers like black rock the chairman of market access joins us >> happy to be here. >> what does this mean in practical terms for diverse broker dealers >> it is all about increased trading community for the diversity and minority owned dealer community the unique part about our business model is we have created this wide open all to all marketplace for global bonds trading through open trading that eliminates trading barriers and allows anyone to trade with anyone else. this is a great way to leverage that network and create new opportunities for the diversity of minority own dealers and at the same time add important liquidity to our trading system. >> is that what has been the biggest problem? is it liquidity? is it

let's first focus on wells fargo. mr. scharf, neither citi nor bank of america charge overdraft fees, deciding this practice was not in the best interest of their customer. i find it curious, why has your bank made the opposite decision, thinking that a sandwich or a cup of coffee at a deli should result in a $35 overdraft fee? >> i'm sorry, could you repeat that? >> i'm waiting for your answer. >> congresswoman, we are constantly looking at ways to be more consumer friendly. we introduced an account last year that has no overdraft fees at all. it is probably our most popular account since we have introduced it, so we have options that are readily available for customers who do not want to overdraft. we also offer overdraft protection and something called overdraft rewind, which allows us to look back further the past 24 hours for direct deposits coming into that account. we are trying to be more consumer friendly, but it is something we are continuing to look at. >> you have an account with no overdraft fees? i would thi

next, the market outlook from wells fargo's brian jacobsen. he tells us why and what you should be buying in may. this is bloomberg. ♪ is bloomberg. ♪ shery: we are starting the month of may on the back of an incredible global rally. let's see where stocks are headed with brian jacobsen, strategist for will -- for wells fargo. great to have you with us. do you buy into sell and may go away? brian: the old adage of sell in may and go away, and something like you don't buyback until saint leger's day, something in september. maybe that worked when everyone took the summer off. you just didn't want to have to worry about what was happening with your portfolio while you were on vacation. i do not think that will necessarily work this year. it is not that reliable to begin with, but we do sometimes see some volatility around the economic data, and my team actually believes that we are still risk on, and we are monitoring things with data release by data release. our biggest concern right now is, what if we get a little bit of disappointment with so

so was the federal resh forced to take some regulatory action to the london whale and the wells fargo fake account scandal? >> i guess two things i'd say. then whale was before my name. those specific questions i'm not sure that i can answer. but i can certainly say that -- >> it's a simple question. it's not something that you have to recuse yourself. it's an acknowledgment of what the reserve did, whether you were involved in it or not. my understanding is that there were regulatory actions. and so if there were, take my word for the moment because my time is limited. wouldn't it be more effective oversight to help prevent these types of scandals from taking place in the first place? >> we do in our supervisory engagement with the firms, that is an important element of it. there are compensation arrangements and incentive compensation practices. as you know, the incentive compensation rule is a joint agency rule that requires complicated joint agency negotiation, but the fed does closely supervise compensation practices. >> ten years. ten years. i don't care how complicated the matt

he's currently second on eight under par at the wells fargo championship in north carolina, one shotded warren gatland of his talents after missing out on selection for the british and irish lions in a remarkable game against wasps at the stoop. in a free—scoring game with 12 tries, iii—man quins trailed by eight points with just a few minutes remaining only for the england fly half to pop up with his second try of the game. he then converted it himself for a 48—16 win. that keeps them in contention for the premiership play—offs. what a game! cardiff blues edged out dragons by 17—16 in the second round of the pro ia rainbow cup. despite losing their lead after centre owen lane was sent off for this foul, the hosts fought back to win at cardiff arms park. replacement lock teddy williams�* converted try giving cardiff their first win in this season's competition. the world athletics president lord coe says athletes must be prepared to make sacrifices when competing at the olympics this summer, with the pandemic continuing to impact the hosts japan. a national state of emergency remains

and the strategic growth council, the california tax credit and debt allocation committees, wells fargo and b.n.y.mellon, and the federal housing bank of san francisco. i also want to express my gratitude to the architect, david baker and associates, to our general contractor, and to several other consultants, subcontractors, and most importantly, construction workers who helped turn our vision into reality. and last but not the least. a big shoutout to the incredible project teams at both bridge and mission housing for their relentless perseverance over many years. i want to thank supervisor hillary ronen for her support and invite her now to make a few remarks. thank you. [applause] >> supervisor ronen: hello, everyone. we are having a great day in the mission. we just came from the second -- not one but second vaccination site just a couple blocks away, and now to cut the ribbon on 1950 mission is really, without exaggeration, a dream come true. i was looking up -- i don't know if they're still there, but there was two little girls peeking out at this press conference from one of tho

to choose which i'm sure most of the most collect will no longer go much with them who she spent in fargo. my time when not, it was more because i thought that you were doing most of us do that on my mind when you do it for you or just the didn't fit for the muscle boys. if i got a question such a look at me, i have to go to court. but that is, that was the one you will. yes, you attempt to is, or will julie's with the bill i received from guys in the record is most prisoners but on, but in that that visual was, it's just the way i live. there's the thing in which the form is don't stone and joy of equity. muscle tone spoken beep with a with no problem sir. so i wanted the graph and it was a thought that one of the nutrients, which isn't a new, a new the, that them us, when you come up with market, it's probably another thing it's, you'll see this almost as this go only show felicia, then just give me a new level you think much, those are the things you want them to look to the co workers from from your school, from me that the my yeah, i'm not going on. you flee rental surgical unless yo

coming up, wells fargo, up 11 on the s&p and we advance on the nasdaq i .4%.omberg. ♪ ♪ ♪ look, if your wireless carrier was a guy you'd leave him tomorrow. not very flexible. not great at saving. you deserve better... xfinity mobile. now they have unlimited for just $30 a month... $30. and they're number one in customer satisfaction. his number... delete it. i'm deleting it. so, break free from the big three. xfinity internet customers, switch to xfinity mobile and get unlimited with 5g included for $30 on the nations fastest, most reliable network. (announcer) the core is key to losing weight, getting back in shape, and feeling good. introducing the aero trainer, designed to strengthen your core, flatten your stomach, and relieve stress and back pain. it conforms to your body and increases muscle activity. abs, back, obliques, hips, and glutes. get incredible results in just five to ten minutes a day. the aero trainer supports over 500 pounds, and inflates and deflates in seconds. check it out at aerotrainer.com. that's a-e-r-o trainer.com. ♪ >> we've alread

there'll cronk, wells fargo wealth and investment -- darrell cronk, wells fargo wealth and investment management cio. tom: i took the bloomberg sub index of commodities today. the agriculture index is a moonshot, up 70% plus since the beginning of april. i don't know what that signals, but there it is. jonathan: it is energy, too. base metals as well. lisa: the idea is that the bond market, if you look at the breakeven rates, they are signaling the fed is correct, that this is transitory. that if you look at near term inflation rates, they are the highest they have been going back decades relative to 10 year treasury -- tenure rates. this is interesting. yes, transitory. tom: boe, boring, boring, boring. this is not boring, is it? jonathan: there's a difference between cutting the pace of something and cutting the stock of a purchase program. it cuts the duration of the program may be by about a month, but the overall purchase target remains the same. andy howell confuses things a little bit because he had a dissenting vote today. what he would have liked to see was a reduction of the

and millett a -- ann miletti is iconic at wells fargo.e can have a three hour conversation here on the efficacy of value. the basic idea is value sits for x number of years, and then it is go, go, go. can value go moving forward? ann: it has had a great run and has certainly closed the gap with growth, outperforming growth in such a wide margin in q1 and past that, as you know. the challenge here is the million-dollar question that the three of you have been talking about so much this morning area do we really have inflation ahead of us, or is it something more like we are in this economy that was shut off with a light switch, and it is now being turned on with a dimmer switch? at the end of the year, we actually start to see this booming economy really look more normalized and much slower. and therefore, some of the inflation fears that investors have today really start to kind of moderate, and you then focus on the companies that can outgrow. so while value is still attractive to our investment teams, there are some stocks in the growth

i love that line from wells fargo and sarah house. good morning.untdown to the open." we begin with the big issue. market scrambling with volatile data. >> this is a new paradigm. >> a lot of distortion in the data. >> so much uncertainty. >> this is uncertain data. >> a huge number. >> the highest print i have seen in my career. you're looking at post-pandemic era. >> the big method of the huge data miss -- friday or yesterday. >> there will not be enough clarity. >>

colin langan with wells fargo.rill lynch, there's been a sudden change in what investors think is the bigs threat to the market we will break down exactly what it is. it will surprise you, next. >>> don't forget, you can always watch or listeton us live on the go, on the app we'll be right back. aaaand welcome back to guess the price ok johnny tell our contestants about eargo. johnny: these top of the line hearing aids from eargo are straight out of the future they're rechargeable and virtually invisible in your ears and you don't need to visit a doctor to get them. they ship right to your door and come with lifetime remote support. host: convenient. right? guess the price and they're yours. $8,000 host: too high. $6,000 host: no $5,000 host: too high $3,500? host: oh, too high. eargo's are affordable and retail for about half the cost of traditional hearing aids. unfortunately nobody won. johnny tell our contestants about our lovely parting gifts. johnny: it's a peruvian pan flute. host: well that's all the time w

nick bennenbroek, wells fargo international economist, touching on the euro and europe briefly.raight days, up on another five basis points up to 1.2 percent. a lot of people listening may be saying that is still very low -- it is, but it was only a few months ago, in fact february, when we were at 46 basis points on the italian 10 year. that is quite a turnaround. lisa: and it raises quite the conundrum for the ecb, because the economy is not necessarily proving out the strength people are seeing and predicting later out in the year. so how do they respond? jonathan: what are you more interested, the fed meeting or the ecb? lisa: the fed meeting, because signaling tapering will be the key, will that be the discussion? jonathan: looking forward to that. coming up, joshua sharfstein, johns hopkins bloomberg school of public health joining us. how did the cdc mask move become so controversial? equity futures down 14 on the s&p. yields unchanged, 16267. alongside lisa abramowicz, i am jonathan ferro. this is "bloomberg surveillance ." ♪ ritika: with the first word news, i am ritika

we will discuss with wells fargo asset management.is bloomberg. ♪ erg. ♪ vonnie: you are watching "daybreak: australia." i'm vonnie quinn with the first word headlines. president joe biden has pledged to send millions of doses of u.s. coronavirus vaccine abroad by the end of june. for the first time, the shots will include those cleared for domestic use. the president says his administration will export 20 million doses of vaccine through pfizer, moderna and johnson & johnson, that is in addition to 60 million astrazeneca shots he has pledged. pres. biden: we want to leave the world with our values. with this demonstration of our innovation, ingenuity, and the fundamental decency of the american people, just as in world war ii, america was the arsenal of democracy in the battle against covid-19 pandemic, our nation will be the arsenal of vaccines for the rest of the world. vonnie: new york state will lift its mask mandate on wednesday. in accordance with cdc guidance, governor andrew cuomo called the mask easing policy radical. it ali

ideal conditions in the south bay, along way from his noley north dakota fargo town where bundling upr the younger players. >> you are out there practicing in blizzards and everything like that and that is just the way it is. if you come out in sleeves the singers will rip your sleeves off. it is one of those things like initiation and earning respect. >>> and soccer the santa clara the ncaa finals as they knocked off heavyweight north carolina. this was a gold hill goal and the broncos got the win 3-1 and will play for the state for the title on monday, the third time and clawedfor nship game. this one. >> i asked the team a question a couple of days ago and said is this a math problem or a fistfight? >> to bring home that national championship would be a blessing and an honor. >>> the giants are in pittsburgh and the oakland a's are at minnesota. >>> remember the old saying that you are what you eat? maybe not the case for baltimore ravens rookie ben cleveland. number 74, eight 343 pound offensive lineman is from rural georgia. swirls provided a nice the things eal and a diet and wh

our next guest is an emmy winning actress you know from shows like "designing women," "frazier," "fargo more than good. and even if you're great, and lucky, you still have to work really [ bleep ] hard! and even that is not enough. you have to scratch and claw and it never [ bleep ] ends. and it doesn't get better. it just gets harder. so don't complain to me that i'm making your life hard. you don't even know what that means. [ helicopter ] oh, good my ride's here. [ laughter ] >> seth: please welcome back to the show jean smart. how are you, jean? >> i am good how are you, seth? >> seth: so, i am wonderful. it's always so good to see you now you play a character named deborah vance in the show, and i can't help but noticing the very large street sign behind you >> really? [ laughter ] i didn't - i didn't think - really i guess it's sort of, yeah i guess it's sort of large i don't know where it came from. >> seth: yeah. very, very subtle promotion. i tip my cap, jean [ laughter ] >> i like this look on you, by the way. this casual. >> seth: yeah, right >> it suits you. it really does >

over tech so here's an interesting one let's bring in chris harvey, head of equity strategy at wells fargo securities chris, appreciate you being here tell us about what you anticipate happening with this shake-up and what that means why it should matter to us >> maybe we will go back to what some of the guests were saying they are saying, hey, the reaction on tech was great, earnings out of tech was great but the stocks didn't do anything one of the reasons why the stocks may not be doing anything is they are no longer the momentum trade they are no longer the qu quote/unquote the chart looks good we are seen quanta move away, momentum players move away and this rebalance you will have tech go down from 40% much the index to about 17. and let's not forget the russell will rebalance in another month. tek -- [ inaudible ] placing it, you are seeing more cyclicals and value type stocks. financials were south of 2% in the index. they are going to go north of 30%. so now what momentum is or what i should say is financials are the new mo trend. >> do you feel like, chris, that is the right sect

him from pretty much every genre of film and television from "trainspotting," to "start wars," to "fargoe stars as "halston," which streaming now on netflix ewan mcgregor is gonna be here she's a great actress, comedian, writer whose book, "the wreckage of my presence" is available now. our friend casey wilson is gonna join us. but before we get to all that, several prominent republicans are continuing to push back against both mask rules and covid vaccines, even though we now have significant evidence that the vaccines cut down on transmission and help protect others and get us back to normal from more on this, it's time for "a closer look." ♪ >> seth: when it comes to masks and vaccinations, there have been a lot of dumb opinions. for example, yesterday, former congressman jason chaffetz, who's now a fox news contributor trotted out what he thought was a brilliant analogy to criticize mandates >> i think one of the principles that people just tend to forget about, which is the proper role of government. the proper role of government is to inform the public, but we believe in the united

more than jpmorgan because wells fargo was so bad before it got to charlie sharp so i like these, i guess but i will come back and say something that is a little different from what most people would say. there are many stocks, more than i can ever recall, that i like right now. steph, when you and i go back and forth invariably it will be -- i have train on tonight. have you looked at train, tt >> uh-huh, yeah. >> it was a blow-out come on, how can you not want to own trane? the only thing keeping you back from owning trane is that there are 70 that you want to own, maybe 80tranes look at the stock. has anyone heard of the thing? trane. in the old days, joe, in the old days union pacific holds an analyst meeting, okay. well, everybody sells. that was what you were supposed to do. not anymore. now they buy i mean how about the fact that las vegas sands, caesars, sold out! i mean there's an eagles' game, judge, in vegas. okay we don't know the date i got to take down every single weekend, i have to take a room in a bad hotel because everything is sold out. >> the schedule comes out i

this activist from fargo was there, he was shot while on the streets, protesting. he does not want to be identified. he said the security forces were using rocket propelled grenades. after that day, he and 9 other activists wanted to do more. so they left a train with one of the korean ethnic armies, and i've seen the ethnic car, an army fight with me in my army on social media. i saw the car in groups fighting together against the army. i'm grateful for everybody that supports each other in the crisis right now. i want democracy to turn to mind more and that fighting has intensified in the career controlled areas. and since the coo and february sending civilians fleeing for their lives into hiding 18 year old dog, guy lore is ethnic korean. and she has witnessed the fighting between the rebels and the me. m r. army sits. she was a girl. she started training after finishing high school initially refusing to learn how to use firearms. but that changed once she saw the attacks on her. people come out with that. i want to help people and i want to have freedom in our