goldman goldman sachs will release their second—quarter earnings on monday — with revenues forecast to rise over 15% year—on—year. on tuesday — we'll hear from bank of america. first first quarter profits fell 18% due to rising expenses caused by high rates. also on tuesday — investment banking giant morgan stanley will release their financial report card — with revenues expected to rise. for a closer look at the us banking sector, — let's speak with cyrus darawala from idc financial insights. thank you forjoining me today. let's get your take on what to expect from the latest earnings from us banks when they are released. from us banks when they are released-— released. sure. good to be back. released. sure. good to be back- the _ released. sure. good to be back. the majority - released. sure. good to be back. the majority of - released. sure. good to be l back. the majority of reports so far have been lackluster, and reason for that, though the banks have posted slightly better than expected profit, some half of them, half of them not, it is the longer term view that concerns us. as of right now, dave enjoyed what we used to call the higher for longer interest rates in the net interest rates in the net interest margin, and a benefit tremendously because of that. what that is going to come to a stop in august and september, as you know. so, will discontinue on to 03 and 04? we don't think so, which is one of the reasons why the earnings—per—share been ok for the first half. i don't think that will continue in the second half, and close the near next year on a high note. you sound somewhat _ next year on a high note. you sound somewhat pessimistic there about the rest of the year, but all 31 thanks, use banks that underwent the annual stress test from the fed past, is that not good news going forward? ., �* , forward? you're right, 'ust in march, forward? you're right, 'ust in march. wiufi forward? you're right, 'ust in march, will resort h forward? you're right, 'ust in march, will resort to h forward? you're right, just in march, will resort to the - forward? you're right, just in | march, will resort to the fed, they gave us almost about 30 banks in the us, specifically to the us, and of course the top four, jp, citibank chase, and goldman tests successfully, but again, there is a bit of what you would call wait and watch, and that wait and watch comes from what is going to happen their commercial property lending portfolio? you know his plans —— san francisco has taken a beating, so the west coast lenders, predominantly gp and wells fargo, they would take a bit of a beating. the they have a huge investment crunch, sure? but they are not or if this stress test is done take into account the defaults of the nonperforming loans that would take in in 02 and 03 when people can't pay their mortgages. so that needs to be factored in as well, so good stress test results right now but let us see what happens when they close the books and go after receivables and payables in the next quarter. what does an expected interest rate cut mean for the major us banks? i rate cut mean for the ma'or us banks? ~ ,.,, ., , banks? i think depositors will be dissuaded. _ banks? i think depositors will be dissuaded. as _ banks? i think deposito

goldman goldman sachs will release their second—quarter earnings on monday — with revenues forecast to

would you expect goldman sachs to be in line or better? how do you view the goldmanhs results in light of the other big banks? >> they tend to out perform. when wall street is doing well, goldman sachs tends to do good-to-great. if they don't out perform significantly just as jpmorgan chase and citigroup, that would be disappointing. david solomon got flack with the failure of the consumer banking efforts. obscured by that, they had been making an lot of progress deepening their moat and the trading business they have or tightening relationships with hedge fund clients. if that is not shooting lights out on wall street, this is going to be a concern. >> you mentioned the banks. we have bank of america, a big consumer bang, k coming up this week. so many are looking for higher interest rate vehicles like cds and money market. what are you looking for with bank of america? obviously a key metric for them. >> we expect it to be compressed just like citi and jpmorgan chase. we see the funding on the banks and if your customers have a choice to be higher yielding options

goldman sachs help a little bit. ken leon joins us for more. jp, wells fargo, goldman just now, what is your take away this morning?ing to move away from rates or net interest income. today, it is really about the market, it is about investment banking, and also, goldman's ability really to be top of the table. so what we see with these results, obviously the earnings beat, but we have resilient businesses that are also in position to gain while a share. the asset and wealth management business, david solomon will speak about the increasing alternative investments, over $300 billion, which possibly give goldman's stock a higher multiple, that whole segment. in investment banking, we have not spoken enough last friday, but today we are seeing improvement in equity underwriting and also debt on was a three-year high -- debt underwriting was a three-year high going for the second quarter. lastly, while m&a is ok, it is likely to do better the second half of this year, because most of the financial crisis, private equity firms, have been on the sideline, and they need to enact it in order to get their lp investors into

goldman sachs raised spotify's price target, goldman citing the q2 results should build in the secondear. >>> piper sandler downgrading its target from 494 to $404. piper sandler saying it does not think it's enough to offset the several sources of market dilution for the company. >>> another retailer getting a downgrade. boot barn. it's lowering its price target down to 125, ubs saying is expects trouble and it has a more bearer macroview. >>> lvmh is declining after second quarter sales growth largely due to weaker luxury spending in china. other european luxury stocks in the red. gucci owner kaying down more than 3%. the others are all arch more than 1%. >>> and it's not just the luxury sector under pressure in europe. the german lender reports its first quarterly loss in 2020. it's taking a provision on a long-running legal dispute following the takeover of post bank. b np paribas falls despite the drop in the net interest income. >>> coming up on "worldwide exchange," the one word that every investor needs to know today, plus an earnings and revenue beat by alphabet. you can she

there was a goldman sachs estimate _ ourjobs. there was a goldmantomate away entire jobs. it is going to change — away entire jobs. it is going to change the way they are done. it will come — change the way they are done. it will come in and do particular tasks. — will come in and do particular tasks, probably fasterand will come in and do particular tasks, probably faster and may be better— tasks, probably faster and may be better than humans do them. but then there are _ better than humans do them. but then there are some roles also where people _ there are some roles also where people wonder, are these jobs going to -o people wonder, are these jobs going to go away— people wonder, are these jobs going to go away entirely? some workers are feeling — to go away entirely? some workers are feeling the effect of that already— are feeling the effect of that already and they are starting to ask. _ already and they are starting to ask. who — already and they are starting to ask, who was going to protect us. what _ ask, who was going to protect us. what e

goldman sachs? lauren: 474 was a high for goldman and hitted to and 472. this is ahead of friday's big bang stark reporting and kicking off earning season and investors are looking for clues first rate cut could be in september. david: taiwan semiconductor company? lauren: hitting $1 trillion and makes sense because it's the largest chip foundry and have two $3 trillion customers, app and will nvidia and they hit $1 trillion in valuation. david: good old dominoes pizza? lauren: 499 and upgrade to outperform and set ago price target of 580 and like the strategy. david: good stuff. lauren, thank you. jason, good to have you here. appreciate it. coming up, it's congressman chip roy planning to remove the president and planning to talk to fellow congressmen about it this week and the congressman is on the show and new report from cdo that the nationalize is on pace to reach a national crisis over the next four years. president biden welcoming leaders of nato to washington tomorrow. but after numerous displays of physical frailty and mental weakness, how will h

charlie wells with a preview of goldman sachs later today, and the rest of the banking earnings coming out this week. the financial times says goldmanhs is appealing as result in the federal reserve's latest stress test, which would require the bank to hold more capital. according to their sources, the move comes after ceo david solomon said the result did not reflect goldman's efforts to make its business more stable. bloomberg has learned that alphabet is in talks to acquire cybersecurity start up wiz. the transaction could total $23 billion, making it the company's largest acquisition to date. last week, alphabet shelved efforts to acquire company management firm hub spot. how has the attempted assassination of trump altered the political landscape ahead of the u.s. election in november? we will speak with david doug, international politics professor at birmingham university. that is next. this is bloomberg. ♪ pres. biden: while we disagree, we are not enemies. we are neighbors, we are friends, coworkers, citizens. most importantly, we are fellow americans. we must stand together. yesterday's shooting at donald trump's rally in p

you've got goldman sachs in the pull position there followed by intel but then jpmorgan and american express. goldman sachs is hitting a record high right now and again, you've got a lot of these big financial names roaring higher. how about citi? it's at a three-year high and so is bank of america and you can thank federal reserve chair jay powell for filling up the financials gas tanks for this run. powell testified before the senate banking committee just a few hours ago. oddly, his comments have both stocks and bond yields moving higher. you can see the 10 year yield at 4.30% at the moment. that's possibly due to this answer powell gave about interest rate timing, and warning, you will need a fork to dig through a little bit of word salad here. >> we know that if we move too quickly, we risk unnecessarily hampering economic activity and possibly interfering with the ongoing expansion. we know that if we move too slowly, that we may undo the good we've done. well actually it's the other way if we loosen policy too late or too little we could hurt economic activity. if we loosen policy too much or

goldman sachs. here with our trades, jeff keel berg from kkm financial, also a cnbc contributor. jeff, you stick with goldman brought in over $3 million. yes, this is an optimistic sign that capital markets are returning. look at the fixed income trading. back in the days when itches trading in the pits in chicago, we took notice what goldman was doing in trading. up almost 20%. asset management up nearly 30%. i think it's going to make new highs. hang on to goldman sachs. >> super micro. it's had a rouge run, and it's going to join the nasdaq 100 next monday replacing walgreens. what about snit. >> nice to see hands and face midday. thought you would be on the back nine. this is like a baby nvidia. if you look at where it started, trading about $285. to see this parabolic move, i think you take some profits. you never want to a short a name like this, you'll get taken now the a body bag. >> ulta beauty has several price target cuts last week. oppenheimer removed it from its topic list. this had been one of the secular winners of the 2010s, jeff kilburg. what happens in its 20s? >> exciting to see the averag

dow members are hitting all-time highs including american express, goldman sachs, jpmorgan and amgen of course as you know, goldman and jpmorgan had reported earnings tuesday and monday respectively. what about the rate cut hope trade getting a boost from an appearance by the financial markets federal reserve chair jay powell. yesterday at the d.c. economic club he gave the message the markets wanted. a rate cut will come before inflation finally drops to the fed's target rate of 2%. the last piece of this rally puzzle, the trump trade, the increasing likelihood at the moment that the former president will retake the white house in the upcoming presidential election has stocks moving higher but of all the indices, the russel unloved for so long, is far and away the biggest beneficiary of the trade as we're calling it. in the last few hours it shattered the two and a half year resistance sealing so we're bringing in the billionaire investor whose king of digging up the unloved and ignored stocks and making them mario gabelli joining us now. mario, russel up 10% over just the past five sessions, compared with 1% for

. >> and goldman sachs benefit health insurers like humana and united hurt because will be less cost pressures for to give senior citizens cheaper prescriptions. goldman sachs said this morning that the russell 2000 small-cap stocks would do well under u.s. presidency as he wants to make america great there be more focus on the smaller companies, not, you know, doing big business with china and mexico per se. there would be the extension of the corporate and personal tax cuts which we're really kind of nice for middle americans, not necessary californians because we have taxes already here. but there's a lot of ramifications here, including like stronger dollar as we would be tougher on foreign trade. you know, tough talk on china. tough talk on mexico that immigration with springs people work in united states, low-cost labor, they would that would hurt our economy. it be inflationary is the thought that we have to, you did some that lower paid jobs ourselves or pay more for them to have american citizens to so let's to some of the ramifications. might any bright. their so many things you have to factor into. you know, how the economy might. >> progre

they grew 33% and goldman sachs let's look at financials because they could play very interestingly into a trump presidency once again. less regulation, he hates regulation. we've got goldman sachs hitting another record. it's up $12 to $491 and change. let's bring in our floor show voices here options trader allen nuchman, andre monday james washington policy analyst ed mills. alan, i'm going to begin with you. what's the options activity you see right now? >> well first off, liz, hello. i'm at home in michigan so we're in the iron belt. this is where we mine the iron, that we turn into steel that makes america, that makes cars, so what's going to happen here is the resource markets really going to benefit from this action i think and i think that's where the risk reward is right now but if you look at the options market, schlumberger and halliburton in the last couple of weeks have had some money flow into those options which tells me something, and recently today, some interesting actions also happening in some of the bitcoin stocks. you've got coin, you've got clean spark -- liz: oh, my gosh bitcoin is roaring. let me just interrupt you. bitcoin is roaring higher right

goldman sachs. stay tuned. you're watching "squawk box" on cnbc. >>> still to come this morning, we have goldman sachs ceo, davidtalk about his firm, the markets and the global economy much more. first, though, as we head to a quick break, take a look at today's big events. simone biles and usa gymnastics d da going for the goltoy. and regan smith and kaylee set for an epic 100 meter backstroke style. good thing i had aflac. (aflac duck) hmmm the cash i got from aflac helped pay for medical expenses, groceries, rent. it really helped close that gap. (whisper) go, go, go! (group) yay! go aflac! go duck! get help with expenses health insurance doesn't cover. find an agent. get a quote at aflac.com. wish we had aflac on our team. you can! (♪♪) >>> welcome back to "squawk box." we are live in paris this morning, and david solomon, goldma goldman sachs ceo is with us. >> i think first and foremost, it's sport and it's bringing people together. one of the things for me so inspire something to watch all the people from around the world cheering for everybody. there's such a sense of unity when you come and participate

goldman sachs had an extraordinary quarter. i actually joked to the people there when i worked at goldman there was this fellow, gus leavy who understoodrading, understood banking. people talked about it being pretty darn good. i mentioned to them, is there gus levy talk. they said no, don't get too excited. i am. i think solomon is the hero of the hour. >> everyone remembers. >> people were dumping on him, just trashing the guy. i'll take 492 any day of the week. but, look, brian moynihan is slow and steady, perfect, just done. it's funny because that is the warren buffett bank. remember when wells was -- >> i do remember that. those warrants back in the day. >> obviously charlie sharp is not going to say regulation is just going to go, but it has to do with federal reserve scrutiny. i don't think the federal reserve scrutiny is going to be as critical as it is right now where they kept reacting to what happened with the mini banking crisis and really i think, as what larry fink talked about. there is a great feddering, so to speak. not a great verb. i think the federal reserve being less restrictive is going to cause a lot more loan

goldman sachs for the group that helps small institutions and individuals. now call private wealth management. i've been buying individual stocks for myself and others for a half decade before i got to goldman in 1983 as a summer intern. at the time, i was watching financial news network between classes at harvard law school. that was the predecessor to cnbc. whenever i could, i would run over to the harvard business school library, where they had all these old research -- about stocks. on a cash basis. those of you who grew up with the internet have no idea how hard it was to access information in the 80s. if i like the company, i would have to ask a librarian for a microfiche. did they still have microfiche is? these were little pieces of plastic that you stuck into a machine, all of them were six months old by them. everything is online an instant and updated. the imperfections in the market back then were -- now everyone can know everything. more on that later tonight. i spent all week trying to find one stock that i thought would work. one stock that i thought would be good for a week, where anyone who wanted to invest can take the idea, and then i changed my answering machine. yes, my

goldman sachs. where you want to be exposed right now in scaap tall markets. investment banking, equity issuance could be up 50-% plus. i want to get exposure there. goldmaneally expanding pretty rapidly. i think that's going to be the next leg of the story for goldman where you see alternative assets as $500 billion at the company which puts them in the top five. only 60% of those assets are fee earning right now. that's going to be the next three years for goldman, really exciting part of the story for them. >> so what wouldn't you touch? >> we've been more neutral on morgan stanley. the reason being is they've done so well. this net interest dynamic i just mentioned has been a big tailwind for them. as rates have gone higher, that's helped. now that rates are stabilizing or moving lower, this creates this offset. even as capital markets rebound, as i mentioned, you still have a little bit of a headwind from rates moving lower. we're more neutral there. we would look to put new money still into goldman stacks -- >> what do you do with the jpmorgans of the world on one end and the wells fargos on the other? >> i think you really want at this part of the