goldman and citi later this morning. at 7:30, goldman, 30 minutes after that, citi.sed on that? ken: that is our call, that the capital markets, particularly underwriting and m&a will drive fees and goldman, you get that outsized impact as you do with morgan stanley versus the bank so far. i think it is enormous that what we have seen so far is no deterioration in investment banking. we have seen modest growth in the third quarter for ipo's. we are seeing there is a realization that rates are not going to zero, but financial spots not underwriting the m&a, the blackstone's and the kkr's have said we can monetize sizable assets or equity that they have. sizable means $1.2 trillion has to be monetized in the next 18 months. all of this for goldman will be phenomenal. first as an intermediary and second because they are expanding their business into private equity and private credit. there are dynamics of goldman and morgan stanley that do not get the same weight or impact for jp morgan or bank of america. jonathan: looking forward to breaking down the numbers with you.

let's get to the ceo of goldman sachs.olomon expressed concern about the widening middle east conflict citing its potential impact on security, safety and economic growth. he spoke to us exclusively on the sidelines of the saudi future investment initiative in riyadh. >> is not good for security, safety or economic growth and i'm hopeful that leaders in the region and around the world that important governments around the world will be able to find a path to settle down as we move forward. but anytime you have geopolitical uncertainty it's not good for economic growth and prosperity. i spent time with people on the ground, people want to find a path to a secure prosperous, economically vibrant middle east. it's interesting, people are obviously concerned and very focused, but it has not had a significant impact on activity up to this point in this part of the region. >> let's talk more broadly, your earnings came out very strong. the stock is at a very good run this year. you must be feeling good. let me ask how you are fe

will morgan stanley repeat the beads from the likes of jp morgan and goldman?ill it be a similar story when it comes to the investment banking and trading parts of the business? at 7:40 pm u.k. time, the ecb president christine lagarde will be speaking. as markets increasingly lock in a more aggressive cutting cycle from the ecb. that decision coming on thursday from the european central bank. there is plenty more coming u. this is bloomberg. ♪ tom: welcome back to "bloomberg daybreak europe." she is the ceo of the world's largest environmental services company, veolia. she has been at veolia two decades helping guide the company's global growth. she told francine lacqua on "leaders with lacqua" goes green about their ai prospects. >> ai can be part of the solution and is a problem of the same time. if i start with the problem, ai data centers consume a lot of energy and need a lot of water. actually we are providing services to the companies doing ai and it is a growing market. on the other side, ai can benefit ecological transformation saving water and energy

goldman using a stringent valuation standard, cyclically adjusted p/e.aid the extreme market concentration right now is a reason why they think returns will be lower assuming huge dominant companies don't retain their advantage over long periods of time so you have to assume that all that market cap and a handful of great companies is going to receive. i'll make one more point, a complete counter movement of argument to this. bofa, just last week saying the higher quality, less cyclical nature of the s&p 500 right now somewhat justifies this elevated valuation. it just isn't the same index we're comparing it to from 2004 when it was like energy and financials dominating or from the longer path of history when it was much more cyclical >> how much do you think investors, you know, use this type of research and reallocate their positions accordingly? i ask because that would have implications for other assets like treasuries, cash, alternatives where you get that equity exposure but if you're concerned about, you know, the current kind of players in the ma

>> goldman. >> goldman? >> yeah, i think amazon. >> apple? >> by the way, apple, did you see what apple is doing? it's trying to stay in front of nvidia. >> weren't there some good numbers out, jim? >> yes. just be quiet for now. >> we will talk apple/nvidia as the two sort of close in on which can become and maintain the world's most valuable company. we'll get to walgreens, boeing, a downgrade of etsy, and we'll ayit some oil as oil falls below $7 st wh us. [ thunderclap ] your business needs a network it can count on. even during the unexpected. power's out! power's out! -power's out! power's out! -power's out! comcast business has you covered, with wifi backup to help keep you up and running. wifi's up. let's power on! let's power on! let's power on! -let's power on! it's from the company with 99.9% network reliability. plus advanced security. let's power on! power on with a leader in connectivity. powering possibilities. comcast business. >>> take a look at some s&p gainers this morning, as we come off of the highs for the dow and the s&

by the way, both ibm rain goldman sachs at records. big blue touching ab intraday high, goldman sachs as well, up just under 1%. apple's right up there with the winners with a decent gain of 1.6%. ever corp. pounding the table on apple. so what is not working today? caterpillar and boeing. go right to the bottom, and you can see they are at that bottom there. investors are selling caterpillar because morgan stanley basically told them to. the bears are tearing at the heavy machinery maker after morgan stanley downgraded the stocker analysts worried cat has reached peak earnings. and after a 3 33% runup, shares could be ready to take a breather. cat is down 22%. and the bad -- 2%. boeing is down $8.35 or more than 22 if after the embattled air are prospace giant said it's going to cut 17,000 jobs. that equals 10 percent of its work force, further delay the launch of the 777x, and they issued a profit warning as the machinist strike drags on. bond market's closed percent if holiday, but with stocks raring to go, so is the floor show and

katie: among them is goldman sachs.his is another case where you had ceo david solomon morning it was on track for a 10% drop for the quarter. he did suggest stronger banking gains could offset that. when it comes to goldman and the trading picture, what are you expecting? >> we are expecting something similar to what david indicated about a month ago, down 10% sequentially and year-on-year. we have seen good engagement in the businesses. equity prices have been performing well. j.p. morgan did outperform on friday relative to the expectations they gave about a month ago for markets. we would not be surprised if that trend continued with the other investment banks as well. for nowwe are expecting about a 10% sequential decline which is a little worse than we were expecting for some of the other investment banks. for investment banking, we are expecting a little better owth. j.p. morgan strongly outperformed relative to the expectations they gave. to the extent you saw late quarter activity helping, perhaps that could tr

goldman sachs upgrading their view on chinese equities. ftse 100 features getting a live from upside in terms of the pricing on copper and iron or and that links to the china story. s&p futures currently a little lower by point 1% -- .1%. let's have a look at the asian markets with the goldman cool contrasting with what you're getting from the likes of nomura. evaluations are starting to look a little bit rich in some parts of these markets in china. we need to see the policy implementation. glezman saying you could see further upside. potentially 20% on chinese stocks so that is playing into the mix as is the strong jobs data in the u.s. in terms of the optimism within the asian session. the benchmark up 1%. the hong kong listed company -- the chinese enterprises index -- chinese companies see gains of closer to percent. in the nikkei having a solid session, adding 867 points. let's look cross-asset then. we talked about the yield move. dramatic as it was in terms of the front end last week, yields up 36 basis points on the two-year. clos

stock is up 2 on goldman. thank you, cheryl. the world word on wall street, joining me now is managing principal and founder ryan bellager, also rebecca walser this morning. ryan, it is good to sew you and, rebecca, i want to kick hinges off with you exactly where we left off, on goldman earning. you've got bank of america reporting a double beat. profits were down as its income from customer interest payments shrank. banks have been paying out higher interest rates on intense competition for deposits. we are also looking at goldman sachs benefiting from a strong capital markets environment. looking ahead to i group at the top of next hour concern citi group. what is your reaction so far? >> i would say that bank of america, i would make a distinction, mafia, between -- maria, between that and wells and jpmorgan chase results because definitely bank of america, you know, their profit, net income year-over-year is down 12%, their net investment income from quarter last year to quarter three this year down 3%. and we were seeing i

sachs is telling clients to do today. >> we have a goldman sachs problem.blem because it's up to the president of the united states to u use his authority to he prevent goldman and others from fueling our enemy. this is just so elemental. it's not only strategic, it's moral. but the other thing about goldman's advisory on this, you know, they went back and they looked at historical rallies in china. and they're just trying to pump things up. what they don't talk about is that those rallies always fail. they always fail because they did not change the fund mental nature of the chinese system. and without that fundamental change, you're going to have bubbles like this, stocks will go up but they'll come down almost as fast and we have to understand the nature of the chinese system. goldman won't tell you that because they don't want to an ar their friends in beijing on whom they rely. maria: that's a great point. the other thing they're not telling us, which is what we know already, these chinese companies don't follow the laws of america. we don't know if th

sachs upgraded the stock from a bike to a neutral, goldman upped its price target toward be from 181750 right now. the stock is done pretty well this year up 24%, the power of the golden rating works both ways, winter apparel canada goose is heading south 7% shares are lower after goldman downgraded the stock to a cell from a neutral goldman cut the price target to $9 per share from 1150 and plying more downside ahead the stock is at 10.46, canada goose which run a thousand bucks were popular in the chinese strong economy with a high-end consumer snapping them up, as we know china is struggling with this economy right now, corporations across the nation now demanding more from that employees return to the office, our workers actually clocking in on-site and new report says no we will ask scott radler the chairman and ceo real estate company rx our what he sees on the floor of the commercial real estate holdings which are vast of fox business exclusive. when your skill sets are bartender in social worker what would make you even think you could be a florist jim mccann was serving up

goldman sachs is upgrading gdp to 4.9%.man saidi stimulus measures are looking for the greater spending. >>> taiwan semiconductor is looking for an increase in profit. customers like apple and nvidia have ben fefitted to the surge artificial intelligence. >>> coming up, the one word wl so nvestor needs to know toy. weilal have the challenging for elliot hill and he maintains the buy rating on the stock. we'll be right back. tamra, izzy and emma... no one puts more love into logistics than these three. you need them. they need a retirement plan. work with principal so we can help you with a plan that's right for your team. let our expertise round out yours. >>> we are moving aggressively to shift our product portfolio and create better balance in the business and reenergize brand momentum through sport. that said, a comeback at this scale takes time. while there are some early wins, we have yet to turn the corner. >> that was nike cfo on the company's earnings call two weeks ago laying out a rough road for the company and ce

goldman sachs like it.say the measures could put g gdp closer to the 5% growth target torfor the year. the devil is in the details here. we have to wait and see what the policymakers do next. we flagged what the major indivisces are doing. the first is the miners. we have seen oil pulling lower today as the three-month copper on the lme pushing down as well. mining companies in europe look like this as a result. the majors here, rio tinto and b bhp, in positive territory. the others are lower in the session. european luxury is in focus this hour. another key source of demand with the concerns of the health and strength of the chinese economy has been pulling this sector sharply lower today down 3.5%. lvmh down 2.66%. burberry also losing ground. as i mentioned, goldman hiked the forecast seeing the world's second largest economy growing 4.9% versus the 4.7% expected. the lender has raised its 2025 growth forecast to 4.7% from 4.3%. let's get more insight and reaction to this with janet mui. she is head of r

tuesday is a big day with the likes of goldman, citi. >> for goldman it would be a big focus on trading had their ceo talking last mon about how it could be worse than expected, so let's see how the rubber meets the road there. bank of america, it will be interesting to see with the consumer does, because they have more exposure to the u.s. consumer. we saw a strong and resilient consumer showed through in some of these jp morgan earnings. let's see if that matches at bank of america. tom: charlie, thank you very much. here is what us to look up for this week. today is the paris auto show. oliver crook is bringing us the latest headlines. tuesday, goldman sachs, bank of america, citigroup, the earnings come through after some ofthe big hitters after jp morgan came through o. u. implemented it drops as well. wednesday, u.k. inflation.expecl go again with another cut in november. the inflation print could be informati in terms of position thursday is the ecbrate decision fully expected by market again. u.s. ret dro on important indicator as well as there are significant question marks ove

but that will eventually happen. >> goldman sachs is interesting. historically, we've seen -- i don't know this, maybe ken knows this, if he still works for the firm -- >> the firm. >> you'll see goldman sell off after earnings. the levels that we're trading up to, the fact this has been resistance a couple times leads me to believe, you know, maybe we're sort of at the upper end of the short-term range. so, we like goldman sachs for a long time, but the way the stock has traded into earnings to me is -- it's not all that encouraging and a continued upside. >> if you think about the cycles that goldman's been on -- it was a $300 back in that same two year ago move. some of this was also unloading unprofitable or lost leading consuming banking dynamics, but an environment where if anyone was able to navigate through and make money in some of their trading businesses, and really, in some of their specialty businesses, it's probably goldman. i agree with you. this is not the multiple in the banking space that looks interesting. it's money center and re

a notable fine for apple, apple and goldman sachs have been ordered to pay $89 million. this stems from how the company has handled consumer disputes related to apple card transactions. the consumer financial protection bureau says apple failed to send thousands of complaints to goldman sachs, and when goldman sachs did receive those complaints, the agency says the bank did not follow federal requirements. when investigating. goldman sachs is also banned from launching new credit cards unless it can provide a plan to comply with the law. apple is responding to the ai boom. it's releasing a preview to its test version of apple intelligence features. the new version will work closely with chatgpt, which is made by san francisco's openai, and it will also include an image, one that will allow users to remove objects or distractions from photos. apple will officially release apple intelligence to the public next week. investors hope apple's new ai features will spur a wave of iphone upgrades that are only available on its newest devices. okay. happy new year! it's opening ni

chief china economist at goldman sachs.ll to come, c vijayakumar l's earnings beat and itscuss keep here with us. ts loomberg. ♪ (♪♪) (♪♪) what took you so long? i'm sorry, there was a long line at the thai place. you get the sauce i like? of course! you're the man! i wish. the future isn't scary. not investing in it is. nasdaq-100 innovators. one etf. before investing, carefully read and consider fund investment objectives, risks, charges, expenses and more in prospectus at invescoom haslinda: welcome back to bloomberg markets: asia. you are watching india focus and they start trading in t sx minutes. we have futures pointing to a higher op. india trading after its inflation accelerated at a faster pace than expected in september, per justifying the our b.i.'s caution as calls to cut interest rates grow in the country. the nifty 100 is up by .3%, stillre-session, looking for a positive day for india. recappinose india cpi nus, rising 5.9% from a year earlier, the quickest pace in nine months. tracking hcl tech. profit help

this will grow over time goldman could be right, but i wouldn't change a thing for now.e disciplined and you'll get through this. >> mike santoli, let me get you to react to what michael farr said you can't deny the fact that s&p 500 has tripled over the past ten years, up 60% over the past two years, and that would suggest that well maybe this party can't go on forever. at the same time, saying there will be a slow down in returns you could still make nice money at 7% a year as opposed to, you know, as opposed to 13%, 13% higher, obviously. >> sure. well, i mean 7% would absolutely be -- you would probably sign up for it right now given the starting point and, you know, i don't think goldman's an outlier here if you look at the standard math in terms of asset allocation entering today at a 1.3% initial dividend yield for the s&p 500 at 22 times forward earnings makes assumptions about there will be an economic cycle that interrupts the trajectory of earnings and you have to build in a cushion for absorbing some tougher times. vanguard maintains a ten-year projected asse

though i did say no to morgan stanley and went to goldman. as for the security side of things the ceo said, improved underwriting markets combined with increasing participation among sponsors across investment banking support, the broadening equity market are favorable backdrops for the market businesses. isn't that just music to your ears? this is about the prospects for meaningful uptick in ipo activity. we talked positively about the bank on a monthly investment meeting today. i should have been more effusive than i was. this morning in the interview with leslie picker with pick and picker, the cetouted both sides of the business. he sounded extra-excited about the investment banking boom. he puts it better than i can. listen to this. >> what i am really bullish on overtime is the beginning chapters of growth across the center of our investment bank which is to offer advice to do the underwriting business but also how it filters into the great market business. i think it will take time but we are seeing it begin. we see the places like ind

goldman is downgrateatdowngradia sell. it sees risk to street estimates with low visibility for gross merchandise sales and losses to persist and margins to compress in 2025. >>> time for the global briefing. now appears to be stalling out. the shanghai composite and csi 300 index closing down 3%. the hang seng dropping 4%. china with more economic data yesterday as exports fell sharply in september. xpeng showing pressure from the tariffs. xpeng is reviewing strategy and including pricing, but did not say it if it plans to pass tariffs to customers. >>> ericsson returns to growth thanks to the rebound of 5g. >>> still to come on "worldwide exchange," one word every investor needs to know today. nng empty or warming up? the a.i. fuel utility stock rally and names that are ripe for the picking. we'll be right back after this break. stay with us. introducing the second chance offer from betmgm. what'd he say? if you bet on a player to score the first touchdown and instead he scores the second? boom! you get your money back -

b of a, citibank, goldman and jpmorgan.ing opening up a short-term credit agreement of $10 billion. guys, it's not a surprise. they need to have as much flexibility as possible as they deal with this machinist strike that shows no sign of ending any time soon. we are more than a month into this and, again, most people have said in terms of free cash flow, this is going to cost them more than $1.3 billion per month. so that's why they want to make sure thiey want to have as many options as possible and we are looking for a capital raise as they deal with the liquidity as this drives lower. >> phil lebeau, maybe this is better and helpful in the short-term, but it just seems like a challenging situation. phil lebeau in chicago this morning. thank you. >>> when we come back, transforming the tech scene in new york city. mongodb ceo is here. he will join us next. you can get the best of squawk on squawk pod and listen any time. we'll be right back. >>> welcome back to "squawk box." the tech landscape has thrived in recent years

announced sanctions to hit iran's oil industry and goldman sachs estimated that could hit one millionrels a day. it seems the approach is yes, israel will strike but it is alongside defense boot capabilities coming through and sanctions being applied. tom: kai. so this put pressure, what have been the other drivers of oil? >> price of oil down 3%, you go back to the fundamentals which is china showing weakness. oil imports they tough showing weakness and declines in china is the largest oil concealers in the world. opec-plus revised downwards their demands and they tend to be more optimistic, they tend to overshot vis-a-vis other think tanks but they've revised down for the third month they now see the demand growth totaling millions of bitter rules to give you context. other think takes are saying much higher than what the market is penciling in. a mismatch between supply and demand. barrels back in the market in the fourth quarter and further sanctions so if those come to pass they could exert pressure. we talk about tension that could emanate. still some potential for disruptions b

goldman is the former research director and telecommunications policy director. the communications workers of america this new book explores how calls center employees and their union fight good, humane jobs in the face of degrading working conditions and lowering wages, and how the actions of workers management and policymakers shape the social impact of new digital technologies and give new form to the telecommuting industry. in a time of momentous, goldman will be joined in conversation with joseph mccartin, a professor in the department of history at georgetown university and the executive director of the come benefits in initiative for labor and the working poor. please me in welcoming to politics and prose. debbie goldman and joseph mccartin. thank you so much. first, let me say a pleasure. it is for me to be doing this event with debbie and before such a packed audience here, a very knowledgeable people, some of whom i think are in the book book. i first encountered debbie years ago when enrolled in a seminar i was teaching at georgetown and the u.s. labor

>> do not have a case of the mondays and goldman sax talking about muted -- goldman sachs talking abouted returns and 47 records this year and six weeks of new highs so at some point, mark, take breathers and not to mention the fact like i said last week, we'll tense up a bit heading into the next two weeks into the election. stuart: you keep telling us the path of least resistance is up and with the financials doing well, that confirms the rally is not over yet. >> yeah, no one has better insight into the economy than the big banks. when they reported earnings last week, the management team said capital markets are improving. they're saying their net interest margins are interest rates that are going lower. cash comes off the sidelines and empowered and looking at soft landing that's probably a no landing and meaning it never really even hit. stuart: would you make a judgment as to who's the better candidate for the market, trump or harris? can you get into that? >> suggesting at a minimum, you get divided government and potentially you get a trump victory. stuart: that's the key, isn'

it is worth noting that goldman is upgrading its china stocks to overweight. index and negative territory but we saw massive gains last week. currently down by .4%. we are keeping an eye on oil prices on the back of escalating tensions in the middle east. in negative territory right now. brent crude now down .4%. assessing israel's potential retaliation against iran for the missile attack last week. that is it for bloomberg markets: asia. keep it here with us. this is bloomberg. ♪ it's our son, he is always . it's the verizon 5g home internet i got us. oh... he used to be a competitive gamer but with the higher lag, he can't keep up with his squad. so now we're his “squad”. what are kevin's plans for the fall? he's going to college. out of state, yeah. -yeah in the fall. change of plans, i've decided to stay local. oh excellent! oh that's great! why would i ever leave this? -aw! we will do anything to get him gaming again. you and kevin need to fix this internet situation. heard my name! i swear to god, kevin! -we told you to wait in the car. everyone in my ol

markets very important to the diversified revenue banks jpmorgan, bank of america very povshg to goldmanhs and morgan stanley what was interesting better than expected up year-over-year we thought double digits it was higher, jpmorgan pointed outpost fed funds rated kruk dcm capital markets activity accelerated last two weeks september i think what you are going to see from others including morgan stanley and goldman sachs is stronger numbers this week also, you know outlook that is positive the fed continues to move steepening yield curve in 2025, you are producing more activity in area the area from you know not depressed but not robust also increased m&a activity so will be interesting to see how this plays out in the next 12 months. maria: okay. we are going to be watching all of that favorite stock right now. >> for the large caps bank of america regional banks u.s. bancorp. >> a pleasure love to talk with you as always thank you so much. >> you are welcome thank you. >> gerard cassidy joining us. >> cutting 10% workforce a live report from boeing plant in pennsylvania when we come

. >> coming up, we'll reveal why one mobile tech company is moving higher and what analysts at goldmanve to say about it, next. (man) look at this silly little sailboat... these men of means with their silver spoons, eating up the financial favors of the 1%. what would become of them when they discover robinhood gold allows others to earn their very liberal rates on idle cash, unlimited deposit bonuses and handsome retirement matching? they would descend into chaos. merciless chaos. ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even a term policy! find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com. (intercom) t minus 10... (janet) so much space! that open kitchen! (tanya) ...definitely the one! (ethan) but how can you sell your house when we're stuck on a space station for months???!!! (brian) opendoor gives you

>> well, i mean, i would probably draw a distinction between morgan and goldman. morgan has focused more in recent years on asset management. i think that's a business, essentially, that james really got them into, and it's served them very well. their revenues are going to be hinged pretty closely to asset prices generally, and where are we with asset prices? they're elevated. wie we're very close to all-time highs m when you have kind of these record levels, our expectation should be that morgan stanley's revenues are going to continue to do well. goldman sachs is going to focus more on the issuance side, on investment banking, sales and trading, that sort of thing, so those are the kind of things that you would look forward to for goldman sachs in the year to come, more so, i think, than you would in morgan stanley's case. and just looking back at the money center banks, one of the things i would point out is that all money center banks aren't equal. we've seen that bank of america, for example, hasn't done an exceptional job at managing their treasury portfoli

the streets at 2.81 so goldman really buying in big time. meanwhile, wall street sees zero, i mean now zero chances of a 50 basis point cut in november. in fact this is what's pretty intriguing now. almost an 11% chance that there are no cuts at all. that's amazing and remember a week or two ago everyone was on a 50 bandwagon. but my first guest says how about this? how about no word raid cuts for the remainder of 2024 bringing in yardeni research president ed yardeni. ed? considering the volatility of the data, this is a pretty bold call to say no more rate cuts this year. so walk us through it. >> well, it really hasn't been all that volatile, to the extent that you look at the whole range of data. so the labor market data can be volatile and certainly the payroll employment number that came out on friday could be revised. it could be revised down i suppose that its happened before, but we also had a very very strong manufacturing i should say non-manufacturing purchasing managers index. the services economy is doing extremely well, and th

. >>> getting a news alert on goldman sachs.r. >> the consumer financial protection bureau announcing an enforcement action related to the partnership for the apple card a lot centers on customer interface and customer service in terms of the fines that will take place as a result of this the cfpb is ordering apple to pay a $25 million penalty goldman will pay a $45 million penalty as well as a $19.8 million in redress to affected customers by this in a call that ended a short while ago, the cfbp outlined the case it made for the enforcement action saying they found that apple failed to send tens of thousands of customers dy pews to goldman and when the disputes did make it to goldman ultimately the bank did not follow requirements for investigating those disputes and there were also issues with technology and handling those disputes and then the cfpb found that apple and goldman misled consumers about interest free payment plans for these devices thinking they would get interest free when they did pay interest among other alleg

it brings the value to around $160 billion which is similar to investment bank goldman sachs.es microsoft and nvidia. oil prices have jumped by around 1% as tensions in the middle east continue to strike fear. the region is the bigger supply of oil and many are concerned a wider conflict would impact the supply. our expert gave us his take. we know after— expert gave us his take. we know after the _ expert gave us his take. - know after the iran attack, israel is weighing their options and what i'm the news and reading, the damages are not significant at the moment, so israel has to think hard on whether they can hard delayed so we can communicate to the customers about what will happen. to the customers about what will happen-— to the customers about what will happen. that was awry in peterson. — will happen. that was awry in peterson, the _ will happen. that was awry in peterson, the founder - will happen. that was awry in peterson, the founder of - will happen. that was awry in peterson, the founder of the | peterson, the founder of the supply chain company flex port. we wi

i love this story, liberals at goldman sachs, are running as far as kamala harris as they can.nning to hitting taking both bicycles and high-speed cars, they can't get away from her fast enough, talk about it with great charlie gasparino right here with when kudlow returns. each helping to protect their money with chase. woah, a lost card isn't keeping this thrill seeker down. lost her card, not the vibe. the soul searcher, is finding his identity, and helping to protect it. hey! oh yeah, the explorer! she's looking to dive deeper... all while chase looks out for her. because these friends have chase. alerts that help check. tools that help protect. one bank that puts you in control. chase. make more of what's yours. when you're looking for answers, it's good to have help. because the right information, at the right time, may make all the difference. at humana, we know that's especially true when you're looking for a medicare supplement insurance plan. that's why we're offering "seven things every medicare supplement should have". it's your free, just for calling the number on

goldman is not the only one.ir fed call for november. 25 basis point cut instead after 50 basis point cut. also they revised their fixed income team revised their two year yield forecast by the end of the year. lifting that higher now. which a lot of firms are doing. 3.7 from 3.4 prior. again, reflecting the fact that the fed doesn't have to do as much. >> yeah, jp morgan was in the 50 camp. they were way off on the jobs number. they were looking for 125. we got 254. citi also goes to 25 versus a prior 50. apollo over the weekend argue no more cuts. >> i highlighted both of those notes because the question is how good does it have to get for the fed to not do anything? they kind of put themselves in a corner with the expectations that they're going to cut in every single meeting but remember, the ecb doesn't cut at every meeting. they take pauses. the consensus might pivot to no rush to ease further during the fall. we can't rule out higher for longer making the comeback. we are in the none and done camp for the

they say, quote, upon learning about these yad vert ent issues years ago apple worked closely with goldmano quickly address them and help impacted customers while we strongly disagree with the characterization of apple's conduct, we have aligned with them on an agreement, that agreement of course is a $25 million fine, pocket change for apple, but this was related to things at cfpb said about the apple card promoting interest-free payments for apple products and also customers having trouble when they had to dispute a charge and getting their money back between goldman and apple, that's what this was related to again, shares of apple down 2% but mostly off of the iphone use i was telling you about earlier. >> steve kovac. >>> up next, tracking the biggest movers into the close, pippa stevens is standing by with that. >> one tech company could be exploring one of its largest ever acquisitions. the names to watch coming up next tamra, izzy and emma... no one puts more love into logistics than these three. you need them. they need a retirement plan. work with principal so we can help you with

and apple and goldman sachs ordered to pay millions.ere's carissa lawson with today's "moneywatch." >>> it's something we haven't seen in a while on wall street, a three-day losing streak. the dow fell 409 points wednesday. the nasdaq dropped 296. and the s&p lost 53 points. corporate giants apple and goldman sachs have been ordered to pay a combined $89 million fine for mishandling their apple cart partnership. the consumer financial bureau says both companies mishandled tens of thousands of transaction disputes and misled cardholders into thinking their apple device purchases were interest free. >>> your prime membership has a new perk at the pump. prime members can now save 10 cents per gallon at 7,000 bp, amoco and ampm gas stations across the country. but there's a catch. you first have to earn up no earnify to activate the discount. that's a bp gas program. >>> you have ever found yourself indulging in your child's gold fish crackers. well, the company is giving the beloved snack a temporary name change to chilean sea bass to appe

the liberals at goldman sachs are running as far from kamala as they can.nning in the hills. they are taking bicycles, taking high speed cars, they can't get away from her fast enough we'll talk about it with the great charlie gasparino right here when kudlow returns. t in your local community. see what i did there? hey, jackie! (♪) evan, my guy! you're helping them with savings, right? (♪) i wish i had someone like evan when i started. somebody just got their first debit card! ice cream on you? ooo, tacos! i got you. wait hold on, don't you owe me money? what?! your money is a part of your community, so your bank should be too. like, chase! when a tough cough finds you on the go, a syrup would be... silly! woo! hey! try new robitussin soft chews. packed with the power of robitussin... in every bite. easy to take cough relief, anywhere. chew on relief, chew on a ♪ robitussin ♪ larry: all right, goldman sachs economics department and the rest of the company, i'm sorry, they are my favorite wall street liberals, not really my favorite but they are running awa

neil: goldman sachs on fire. do you ever wonder this is too much gas? >> we have this beautiful combination right now of massive liquidity, more central banks since 2020 and 2,009, that is a good thing for equities. you have liquidity, plus complacency and if this could be the first of october for an election year where we see limited volatility. i'd be interested to see what happens before the election, do we get that normal chop pre-election like we see in presidential election years or do we power through? the market is voting with liquidity. neil: donald trump says if he doesn't when we have a market crash. >> all presidents take too much credit whether good or bad or assigned too much credit. the key thing the market wants historically is checks and balances so -- under split government. as long as one party doesn't get the presidency, the senate, and the house the market will like it. you have gdp up 3. 2% from 2. 5%, you have rail freight car loadings which bode well. they are up for manufacturing and recovery. we've been in a manufacturing depre

we'll hear from bank of america, citigroup, goldman sachs.erica brian moynihan will join us first on cnbc right here during this hour of "squawk on the street," talk through earnings and also the performance, carl, which is better than all the big banks. bank of america up 45.5% this year, which is an outperform on wells fargo, jpmorgan, goldman sachs and some of the others. >> even with the buffett selling in the mix. >> i have b of a up 24.4% year-to-date. >> oh, sorry. i'm looking at bank of new york mellon. good correction. thank you for checking that. >> i knew had -- it's doing fine. it's outperformed the s&p, as are many of the big cap names in finance, led by jpmorgan. >> yes, here's bank of america. >> wells fargo has surged. you had the cfo on "money movers" on friday. that stock -- >> excited about the asset. so, bank of america up 25%, yes. year-to-date up about 56 in the last 12 months. >>> meantime, saturday was the two-year anniversary of the bull market, as you may know. stock prices have risen at the second fastest pace of an

if they can catch up goldman sachs, game on.st 3% this morning after rallying 20% through yesterday. is he putting his stamp on this company now, on this fate? is he getting out of the shadow of james gorman? >> it took a couple months, but that is kind of nothing after james gorman's legacy. you do see these numbers coming in superstrong. some questions i have are around how sustainable this is. these are really good numbers and at the end of the day, we are looking at hedge funds sitting at near record leverage. can they keep doing that to drive the market higher? jonathan: looking forward to this conversation a little later. doing this now, gerard cassidy of rbc. that wraps up the earnings on wall street. let's sit on morgan stanley for a few beats. a number of beats. a few upside surprises. what do you make of what is behind these gains from the likes of morgan stanley, are they durable? do you expect tailwinds to stay with these companies into 2025? >> i think so because when you take a look at some of the lines of these co

jp goldman -- >> they just merged. >> yeah.'s move on, shall we. >>> coming in the potentially make or break moment for china as a stimulus measure is expected this weekend, although it was expected this week and you saw how stocks reacted when it didn't happen. will it be enough to kick the world's second largest economy into gear? >>> plus, the insurance impact of two major storms that ravaged florida and the carolinas. why is it getting harder and harder for these areas to rebound? >> announcer: you're watching "fast money." here on cnbc. we will be right back. and relentlessly work with you to make them real. it all started with a small business idea. it's a pillow with a speaker in it! that's right craig. pulling in the perfect team to get the job done. i'm just here for the internets. at&t, it's super-fast! you locked us out?! and when thrown a curveball... arrggghh! ahhhh! [crashing sounds] we had everything we needed. is the internet out? don't worry, we have at&t internet back-up. the next level network for small busin

goldman and joseph mccartney. >> [ applause ]thank you so much. first, let me say what a pleasure it is for me to be doing this event with debbie and before such a packed audience here, of very knowledgeable people, some of whom i think are in the book. i first encountered debbie 17 years ago when she enrolled in a seminar, i was teaching at georgetown on the us labor and social history. and to see, um, the product of work she already had in mind when i met her 17 years ago, this book come to fruition in a really remarkable volume i would say one i think that's going to have a big impact on how historians like i think about recent us labor history. it's really such a pleasure. so debbie, if you would maybe start, it would be interesting for me and many people here, to hear what your journey was that led you to write this book. >> well, joe, first of all, thank you for that lovely introduction. and i also want to acknowledge and thank politics and prose, not only the best bookstore in washington d.c, but probably in the country. [ applause ] >>and

congressman dan goldman. thank you for joining us. >> thank you. >> while you just heard from the harris side up next the trump team gets a word, republican congressman mike waltz is with me tonight, and later, arnold schwarzenegger says, he hates politics and doesn't like either party so what's his endorsement really about something regal about scraps here. so we gotta dna test from embark unwitting, you know, it 91% golden retriever, 9% cavalier king, charles spaniel should stay in so yeah, finding out what makes our dog our dog just brought us closer together. >> oh, yes, he is the total load of launched school the shi'a a heart attack. >> do they have life insurance? >> know but we have life insurance john, i'm trying to find something we can afford unfortunately it only. a few minutes select poll found john a $500,000 policy for only $29 a month and his wife and a $500,000 policy for only $21 a month go to select quote.com now and get the insurance your family needs at a price you can afford. >> select q

citigroup, goldman sachs, bank of america among the biggest gainers. julie? >> this is fascinating to see financials leading as aggressively as they have been, you know, we're kind of curious to see how the regionals talk about their books. most people are still a little bit worried about the commercial real estate exposure that is there. these banks are powering through in a way that i don't think anyone could have expected. i would say that if you look at earnings writ large, so far, i think we've probably got 40% of the s&p that's reported. it's really been a little bit meh, aside from the banks, and so, i think that's just what's driving the attention and the energy, just like the mag seven did at the beginning of the year. >> citi was a real outperforming today. >> it was. and the money sent baernings overall, if you look at the big three that are not jpmorgan. wells fargo is up 20% over the last month. i look at this rally, and again, banks that i think are breaking out, you're mow taking through that svb low of may of '23. this has been a long time in

goldman. the bank earnings have been good, that's nice. wall street loves it. does it tell us anything more about how every other company is going to do? >> i think it does. there's a broader theme happening here. first of all, it wasn't just the investment banks. you're seeing it from all the financials that have reported so far. better than expected results and things are pretty good. are they going to the moon? no, but things are pretty good. but it extends beyond the financials. i think -- even the nonfinancials that reported already which is just a handful, are telling you that things are not as bad as people are expecting, and things are getting less bad in the areas that have been beaten down. i think that's the big opportunity. people forget that huge portions of the s&p 500 are still in a profits recession, but they are exiting that profits recession. that's the opportunity. everybody's left these for dead, because their growth has been terrible, but it's staying less terrible on its