you. >> goldman sachs. watching. see you back here tomorrow at 5:00. don't "fast money." meantime, don't go anywhere. "mad money" with jim cramer starts right now. >>> my mission is simple, to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere, and i promise to help you find it. "mad money" starts now. >>> hey, i'm cramer. welcome to "mad money." welcome to cramerica. other people want to make friends. i'm just trying to make you some money. my job is not just to entertain but to educate and teach. so call me at 1-800-743-cnbc or tweet me @jimcramer. some weeks i wish would just disappear so we can get past them without incident. this is one of those weeks.

we will speak to the head of goldman sachs south africa. call returns. u.s.tocks rebound late in the section. -- session. breathing room for credit suisse. the lender ceo says he is looking at other ways to raise capital. him. going to hear from we are less than half an hour away from the start of cash trading here in europe. it will be an interesting session as equity markets turned around yesterday in the u.s. after a couple days malaise due to the health care failure. asian markets overnight turned around and european futures gaining. green.the ftse futures up 4/10 of a percent. take a look at the bund trade. littleelds trading a higher. investors getting out of the safety of german bonds. right now yielding 0.9%. guy: let's talk about the gmm. majors comes to fx, the -- we will see what happens in europe. a couple things to say. the south african rand move down by 2%. have relating -- rerating coming up in april. big holders of south african debt. a bit of a lead in what happened in london this morning. back ands are bouncing that could feed into what we

that will outperform goldman sachs, which is one of my favorites as well. >> i had to make my case. >nds on the clock. >> the fact this guy was selling you on goldman and how is pushing it down -- he sells you on altruia. so, here we are. dynasties, ucla bruins, boston celtic, they have to end at some point and here we are. this is what guy probably didn't tell you time. goldman sachs is a lean, mean athlete. they cut $900 in the second half of last year alone. it's an athlete that's ready to roll. think about the moves over the last five years and you'd think maybe they haven't been the best years, revenues are up 6%. the margin is up u 1200%. think about american express. delynn quincies are up. more card rewards, more pressure on earnings. people are worried about this falling off. you talk about long-term investing. this is the place you want to be. axp's best days behind it. >> by the way, they've stabilized. they're not up. they're going sideways. >> no more talking. pete's got a question. >> tim, does it, do read into the idea what guy point ed out? i think it's interesting and

and i'm honored to follow a great tradition not of only goldman sachs people. i work very closely with secretary paulson. it was an honor to follow him. but a number of incredible individuals that served in this role. i've been a regional banker for the last nine years. i think that experience and being a regional banker and having met with hundreds and hundreds of businesses, small, medium-size businesses and understanding what they need to drive their business in this economy and having traveled the last year with the president throughout this country, i've heard from the american public and that's what i'm committed to doing in this j

it was the end of january when casino mogul sheldon adelson and goldman sachs backed out. tonight...the group save oakland sports is dealing with yet another setback. chris dobbins, save oakland sports: "it's disheartening. we thought it was good when sheldon adelson and goldman sachs backed out but now that bank of america is there, it's not good, but do they have enough time to get it all squared away before the vote in what, three weeks?" (ááágrant / fsááá) oakland mayor libby schaaf also presented her case to the nfl stadium finance committee today...saying in part... "today, we presented a plan that we believe responsibly meets the needs of all parties. we made a sound economic case for keeping the raiders in oakland through the creation of what could become one of america's premier mixed- use sporting venues. nfl owners have the final say and will likely vote on the move later this month. steve. republicans unveiled a bill that would replace obamacare. popular parts of obamacare will remain-- including coverage for those with pre-existing conditions... and allowing c

anna: we had a story around goldman sachs and morgan stanley and others.er voices tell me there might be some back often movement in a dispersed fashion to various parts of the eu but in terms of the heavy lifting parts of the banking balance sheet, certain bank regular readers around europe will not want to have that as an issue on their doorstep and that will -- they will stay in london. guest: london will remain a financial center but the question is will it be the -- one of the leading centers and that is a big question. ,ill that continue in the u.k. if that car -- if not, that could have a big impact. we will be less attractive as a base for upgrading and the big american banks have to create scale in the european union in order to have the passport they need. has been u.k. economy resilient more than many had expected in the wake of the vote. we have not triggered brexit yet. what evidence do you see of strain on consumers at the moment, we look at retail sales numbers and consumer sentiment numbers and there does seem to be a downward momentum, do

he's manager of the goldman sachs group sales. adjunct professor at the university of virginia law school. he will report to treasury secretary steve mnuchin, also a goldman sachs alum. >>> american airlines says it's adding free meals in its economy class in some of its coast to coast-flights. from los angeles to san francisco. they'll add breakfast and chips and dessert. about a month ago delta announced they were bringing back some meals on flights. >> and visa is letting you faye for your purchases with sunglasses. they look like regular sunglasses but they have a chip on the side to play. you take your glasses off and tap them on a terminal. no card swiping is needed. visa is trying to determine if there's a market for them. i lose my sunglasses all the time. this would not be good for me. anne-marie. >> that's exactly what i would say. i think i would be paying for a on the rate hike. jill schlesinger tells us how it affects you. >>> still ahead, surfers catch a wave in the middle of the northeast blizzard. >> you can actual

goldman sachs, for instance, in 2015 goldman sachs did a report on the low carbon economy. it was called goldman sachs equity investors guide to a low carbon world 2015-2025, end quote. so unless somebody here is going to say that goldman sachs is in on the hoax, goldman sachs is taking this pretty seriously. last year the investment firm black rock with more than a trillion dollars in assets under management issued a report titled "adapting portfolios to climate change." i don't think investors trust a trillion dollars to a firm that falls for hoaxes. black rock like goldman knows that climate change is real and is helping its investors plan for the economic fallout. black rock warns in its report investors can no longer ignore climate that's the job of republicans in congress. black rock also had something to say about a price on carbon. they said this, i quote, higher carbon pricing would help address extra superior nalities. in the real world where real decisions are being made by very smart people backed by real money, they are telling their clients, you must take clim

> host: how did you manage as an undocumented immigrant how do you manage to get to school and goldman sachs? >> guest: it is very difficult to manage life as an undocumented immigrants because there are certain aspects of life that are pretty mundane for everyone else like when you're driving a car you don't think twice you are just driving. for me i didn't have a driver's license because texas doesn't provide to undocumented immigrants and therefore, driving a car was really scary. going to college for example. i have done everything i was supposed to do. i went to, i took ap classes and graduated from high school but i still couldn't get into college and it was the changing the law in texas that allowed me to go to college and for many of us that grew up undocumented, it many times comes from local and state law. >> host: at what point in your life did you know that you were undocumented? >> guest: i was 14-years-old when i realized that may visa had expired and that meant i couldn't go to mexico. i tell that story my underground american dream. the reason is because it was the big party

goldman sachs was full of talented people but they were very specific you did your job bid to -- don't go outside by secretly started to write for the clients commentary by your seeing and reading is against common sense and economic history so i thought this isco what i really want to do and by 2001 the stock market started to dive back thatat they referred to as the internet bubble popped. the u.s i will settle think there's such a thing as the bubble that run-up in internet stocks was beautiful as a sign of economic progress as was the decline of those companies but when there is a lot of failure been yugo the economy is progressing you need that constant experimentations of people look at it as the negative but i look at it when the world and the economy were transformed by advances we could not live without.because so of the downside in the internet economy was suddenly goldman sachs was not as interested in my service is as they had been a few years ago. [laughter] that was rather devastating at the time you srt to question in your cell forel saat kind of a person youu are. and m

but just take a look at goldman sachs. people want to demonize goldman sachs. that's an easy thing to do, right? beat up on a financial institution. an institution that's committed to -- let me look at the general numbers here. they have 36,500 employees. there's probably a lot of little guys in there. they've contributed billions of dollars to nonprofits. they've got a commitment to producing $150 billion -- am i right? between now and 2025 for nonprofits. demonizing employers that employ the little guy isn't looking out for the little guy. i've heard marketing department recently using looking out for the little guy. look, i was a little guy. when i was 19 years old i wasn't in college. we've got to look out for the little guy and we've got to stop demonizing businesses that have to be held accountable. you find a bad actor, everybody thinks i like pharmaceuticals. i like pharmaceuticals that are responsible. ones who are bad, i'd like to see them go to jail. any financial services executive or anybody in a financial services business that acts badly needs to

and i'm honored to follow a great tradition not of only goldman sachs people. i work very closely with secretary paulson. it was an honor to follow him. but a number of incredible individuals that served in this role. i've been a regional banker for the last nine years. i think that experience and being a regional banker and having met with hundreds and hundreds of businesses, small, medium-size businesses and understanding what they need to drive their business in this economy and having traveled the last year with the president throughout this country, i've heard from the american public and that's what i'm committed to doing in this job and working with the president to grow this economy. >> neil: all right. the market pounced on that. coable? jack welch is next. you do all this research on a perfect car, then smash it into a tree. your insurance company raises your rates. maybe you should've done more research on them. for drivers with accident forgiveness, liberty mutual won't raise your rates due to your first accident. and if you do have an accident, our

it was the end of january when casino mogul sheldon adelson and goldman sachs backed out.her setback. chris dobbins, save oakland sports: "it's disheartening. we thought it was good when sheldon adelson and goldman sachs backed out but now that bank of america is there, it's not good, but do they have enough time to get it all squared away before the vote in what, three weeks?" (ááágrant / fsááá) oakland mayor libby schaaf also presented her case to the nfl stadium finance committee today...saying in part... "today, we presented a plan that we believe responsibly meets the needs of all parties. we made a sound

>> you just pitched goldman sachs last night. >> i'm not going back away from it.erything kevin is saying. all the points he made you could've made over the last six to nine weeks respectfully. i'll say this. goldman sachs i still think it's about price to tangible book. we went through the math last night. about $173. i don't suggest it should go north of two and a half. in the environment we find ourselves in with the potential for dodd-frank to go away, all those things to go away, i don't think 1.8 to tangible book is unreasonable which gets you $310 stock. the price action today didn't make me all that happy but i'm not walking away from it. kevin likes small caps and mid caps what can you still buy? >> if you want to go small caps i would go with that because you have this potential collar effect, potential border effect. i'm not really buying a lot of stuff. it's just not my nature to buy. >> are you selling a lot of stuff? >> yes, i have taken profits in financials. i'm completely out of those. i would look overseas. you can look to japan. the one thing i w

goldman sachs to unveil the redesign of its trading hub since 2009.t is tearing down walls so money managers will sit shoulder to shoulder and will move 500 employees from three floors into one floor. the move will be completed by he end of april. that's your bloomberg business flash. scarlett: it does look like a bloomberg office. with oil prices plunging last week does it match that of the rest of the market? ♪ talk about equities with the major industries drifting higher to record territory. d stuck in a trading range overall in the mid -- low to mid-50 range. not necessarily. this is a ratio of the 90-day trading volatility. and what you'll find is that oil is more than four times more volatile than the snap 500. i was kind of surprise to see this. giving some of the moves, oil is less than a predictable asset class than equities. joe: 10% crash in oil. and stocks are basically doing nothing but an extraordinary divergence. let's look at the s&p 500 and measure of optimism of investors. all this optimism. there are different reasons for shorting.

the small regional banks are going to go down more than the money centers and the goldman sachs t. the fact they're come led now, down 10% each, makes me worried if you stayed across the board and equalled allocations like goldman, you'll lose a on your portfolio. i would be coupling these completely. i think they need another 50% down. that won't be the case for goldman sachs or some of the money centered banks, but these regionals have been treated as the same quality and major names and they're not. they have really very risky profiles on their balance sheets. if energy stays below 50, let's talk about the junk coming due in the fourth quarter of 2018 of which some regionals own a rlot of this stuff. >> you're missing the big picture. >> i don't agree regionals are being treated as though they're the same quality. i think they're more levered to the things people were excited about happening. that's not the same as saying someone saying these are blue chip money centers and guess what, a bank in texas that does 80% of its business in texas is a blue chip. i disagree. i think it w

>> you know, it's not about new york or wall street saying, wow, filled with goldman sachs again. surprising to wall street as anyone. no one from the industry would have predicted just a couple years ago goldman sachs was considered the vampire squid. wall street persona non grata in the house of elizabeth warren. no one would have predicted this, but when they look at the white house, nobody can predict what's going to come. is it the house of jared and ivanka or steve bannon and reince priebus? investors aren't getting into that vortex of what goes down in the white house. they want a clear road and they want to be able to move ahead and they love the idea of less regulation. they love the idea of tax reform. the question is are they going to get it. >> from our washington bureau tonight inexplicably with more energy than any of us, stephanie rule. she is back on the area tomorrow morning at 9:00 a.m. eastern time with live coverage of day three of the supreme court hearings. >>> another break for us. coming up, a part of american history not seen until today when "the 11th hou

and now, there are other people who would say goldman sachs is the key because goldman sachs is downe like wake me up right now, wow, that goldman, that is really a big decline. >> down big after an incredible run and on the back of expectations that interest rates would be moving up. and obviously a lot of activity would also follow. >> well, i mean, they're factoring in that interest rates might go to 2.1. is that what people are saying? then you have a flat yield curve. [ applause ] >> you hear the applause build here, jim. interest rates would be another key i would assume. >> yes. and i've got to tell you that the orthodoxy always says a flat yield curve means recession. i question all of the bond orthodoxy. on the -- [ bell rings ] >> closing in on 2.6. i heard 2.8. some of my colleagues are saying 2.6. but that's a far cry from 2.3. >> right. there's the opening bell for this monday. you can see as we expect to see a lot more red on the board. world wrestling entertainment highlighting wrestal mania 33 this sunday in orlando. i have been watching a lot of wrestling lately and

goldman sachs says, time is not on your side.this drags on, the more you have unintended consequences in the u.s. guy: thank you very much indeed. yousef gamal el-din joining us from kuwait. joining us on set, amrita sen. good morning. is this meeting important? amrita: it is important like all the others have been. they need to check compliance. honestly, compliance so far has been very good. matt: what do you expect to hear after this meeting? mostly concerns about u.s. stockpiles? amrita: i think they are concerned about it. if we look at the chart, stockpiles have gone like this and production has gone like that. what we are talking about is the timelines. opec pushed an additional 1.5 million barrels of exports in production really late into last year. this is nothing to do with the cuts not working. you are going to start seeing the effects from pretty much next week on words. oil on water is down massively. guy: saudi arabia has become more adept at managing market expectations. let's think of saudi arabia as a central ban

goldman sachs is down 5% veflt near the 2017 low. that's really important. when you think about the stuff that gained right out of the gate in november and then kept on going. obviously bank stocks really, really need this stuff to happen. it is one of the major kinks in the armor. we know this. we don't want to lose leadership. >> and then the beauty of this rally has been that you've changed leadership. so unfortunately, if you rested on just financials, you lost money. but the market gained 12%. aren't they the ones, most gain, from repatriation? the most profitable companies on the planet and they have the most cash overseas. they need this to happen. >> actually, they don't need this to happen. i would be a kicker to their story. but that's why they did it. >> after the rally from 95 to 143 -- >> are you staying markets should have sold off dramatically. and it did. >> the bank stocks. >> the votes pulled. stocks fall. today. the votes pull. stocks rally. what's going on? >> i wish i could tell you. if you heard, the thing that i took away from presiden

the audience at that speech wod be surprised to learn that the president has picked goldman sachs alumni to run the national economic council, to occupy the top two jobs at the treasury and has told just turns to outside counsel to run the fec. knew,ndidates americans college bills are government on a home, they are more skeptical and less trusting of the markets. whether it is another flash crash, the billion-dollar ponzi scheme, a trillion dollar financial crisis, people worry about testing the market with their hard-earned savings. that's what you wanted to. at a time when we are actually debating whether retirement advisors should put our clients interest first, think about. we debate here whether retirement advisors should put their client interests first. it is hard n to see why people feel that way. before neri fears were not enough, in recent years we have witnessed a significant financial risk of hacking and cybercrime as well as cyber change -- climate change. the insistence for removing protections against fraud and abuse grows louder and more these, collective amnesia swept a

goldman sachs, morgan stanley, which we told you earlier was downgraded a compass point. en sachs is a long, because it is so heavily weighed in the dow. it is accounting for 38 points in that index's decline alone. the hospitals seeing some relief year now that the health care bill did not pass. community health systems are higher in particular. a psychiatric hospital country were -- hospital company was also raised. health care doing better overall today. looking at what is going on with the treasuries, the dollar is selling off at it lowest moving average as there is disappointment being expressed over -- and perhaps pessimism over the legislative agenda. we have some buying in the treasury market sending yields lower. mark: oil producers over the weekend voicing that they are considering extending their production limits. why russia wants more information by a green -- before agreeing to extend into the second half of the year. inhave more on that meeting kuwait city. >> in order to make any decisions like this, we would need recommendations. we have asked the opec sec

my concern again, i'll say, goldman sachs to me is the lynchpin. as long as it stays above 225, i think it is intact. so i guess i would side with scott this one. >> i think he brings up really good points. you just had a cooling off period. go back five years and look where we went for a long time with the s&p 500. agree if small caps break down, it is a bad sign. >> yesterday someone went out as the market was falling apart. they were early and i followed it. what did they do? they bought 55,000 of the june 24 calls. you're going to be able to wade through. i think eventually, has the $30 stock. i think it is going higher along with goldman sachs. >> let's go to the home builders. one chart is betting a million dollars that it will rage on. >> so had today they were reaching out and buying the january 38 call. they spent 60 cents for 24,000 of zmoes those are making a substantially bullish bet that itb will be at the 60 cents they paid. volcano still low. therefore options are cheap. you don't necessarily have to buy puts. you can also go out and

then investment bank goldman sachs dropped out at as well.mááá) we will have that story and more on kron 4 news at six.(ááádbl boxááá) vicki back to you. (ááágrant/2-shotááá) now - a touching update to a story we told you about a couple weeks ago here on kron 4 news. a 19 year old fairfield woman lost a leg in a weather- related car accident. (ááávicki/2-shotááá) and it was a good samaritan who came to her comfort. kron 4's hermela aregawi was there when the two were reunited and now forever bonded. (áá take pkgáá)a special relationship..a bond that they say can never be broken.cissy horne was the good samaritan that stopped..when she saw antonetta miller-roman - laying on i80 west on january 19th.sot cissy hornei had to get her off the hgihway. i had looked down and seen what i didn't want to and she was trying not to look down. so i got her up her head is here. our arms are like this trying to keep her neck still and im looking down at her and i said i got you. i love you and we are okay. and she said i want my mom and i said i know you do

goldman sachs down 6.4% in financials.nd the moving yields that you just pointed to very much having a lot to do with it. that ended at 2.5 and now well below 2.4%. another reason why futures are down so sharply today is that international equities are reacting to the downside today as opposed to later friday. asia is sharper. particular particularly, the nikkei. you can see is down 1.5%. the yen is markedly showing about 1% which we'll come to in a moment. as you look around europe as well, red, it's just improved a little bit in the last half hour. we asked for them, the 1%. lots of news has brought the euro over the weekend and the export markets across europe. by the way, as we just said, both asia and europe weighing on futures this morning. >> german business sentiments came in a little bit higher, a bit of a surprise. >> that came in at 112.3, up from the 111, the index. but friday you got decent data out of europe, over the weekend, a german election result that went in favor of angela merkel's party. that was a be

how about goldman sachs? why is the dow down for the month? because of goldman sachs. in the month of march. if that goldman stock had not been part of the dow, well, the dow would be up for the month of march. got it. >>> i want to get back to my take, top of the hour, and bring in martha maccallum. first 100 days host on the fox news channel. always a pleasure, martha, welcome back. >> great to see you, stuart. stuart: look, i'm saying that you and i, and we the people, we want to know about issues about jobs and security and all the rest of it, but what we're getting is investigations. you have the same problem. >> i totally agree with you. we try to do the same, take on the same challenge that you're presenting here every night on the first hundred days because we ask each other, okay, these are the huge stories. obviously, we have to address the russia story, it's a huge story. but there are almost parallel tracks of this presidency that are going on, and you look at what's happening with the economy -- as you say, the dow down in march, but it's been a pretty goo

they occupy the treasury and turned to goldman sachs. the sacrifice for the college bills or down payment on a home are more skeptical and less trusting and whether it is another crash of a billion dollar policy scheme people worry about trusting the market with their hard-earned evening. it's at the time we are debating whether retirement advisors should put their clients first and it's hard not to see why people feel that way. ordinary fears were not enough we learned the risk of hacking and cyber crimes in the climate change it seems the list grows longer for remaining fraud and abuse is sweeping as collective amnesia is swept across this body. i hope we don't spend the next two hours discussing issues only to see them ignored if you are confirmed. you spent your career protecting some of the biggest names in debate host conflicts in this position. i am concerned to resolve of the time we need a strong chair on the front line of enforcement and not watching from the sidelines. you are representing bankers and hedge fund is. but those

bringing down our coloring red bank of america, jp morgan, and goldman sachs.sot just the airline stocks. travel stocks are taking a beating right now. we've got priceline, trip adviser, both of them down. actually, they were way worse earlier, so, again, maybe it shows we'll have a come back in the final hour. expedia up 1%. this after president trump officially signed a revised version of the new executive travel order and start the clock. the ban officially goes into effect march 16th. now, under the new order, foreign nationals for the following countries sudan, syria, iran, libya, somalia, and yemen will not be allowed into the united states for 90 days. black out for 90 days. iraq, though, has been eliminated from the list. earlier today, attorney general jeff sessions said he's quote confident the new order is lawful, but he also shared somewhat unsettling news regarding an fbi investigation for potential terror plots. listen. >> today more than 300 people according to the fbi who came here as refugees are under an fbi investigation today for potential t

specifically goldman sachs. since goldman sachs made that high two weeks ago, the stock has not traded well. if these are a barometer for stocks going higher three, four weeks ago, you have to look at them as a barometer for leading us back down. i nthink the performance of the banks over the next couple days is critical. >> what is the role of the oil markets on overall equities? >> i think oil is extraordinarily important. a lot of people have taken their eye off the ball on that front as well. they're sort of putting it off as a selloff of what's been a strong move to the upside. i want to give you one stock to look at. look at exxonmobil over the last three months. common was a $96 stock, give or take in the beginning of the year. here's the stock trading $81 on a broader market that's effectively gone up until the last couple of days, and an oil market that's gone sideways to slightly lower. what's going on with exxon? is that telling us something in terms of crude oil? it's critical that exxon bounces from

goldman sachs, 114 points. biggest gainers since 2000, johnson & johnson. retailers not participating in this rally. they see store closures, less demand, competition. not seeing foot traffic. retailers are not really participating. other than that, financials, energy, health care, technology, all booming, zooming, whatever you want to call it, neil. we spoke to the traders around the floor, and they talked about the speech last night and they were saying america first. he never went off script. it was strong, he was presidential. perfect, inspiring uplifting, the adjectives were never-ending and the optimism continues here on wall street a a record day and great for the 401(k)s and iras. neil: thanks very much, nicole petallides. as nicole pointed out a troublesome day for retailers. a lot could go back to the idea after border tax, import tax, whatever you want to call it, didn't look likely. it is very much on the table because they would be impacted by that because their customers would bear the burden of that and pay for more goods on the shelves. that

you see bannon going to goldman sachs and playing a lot of the same venture capital types of games. who they put in their cabinet. if you wanted to reject those kind of institutions and the people who are in their elite, they populated this government with more of them than we've ever had before. how does he explain that inconsistenc inconsistency? >> a very good point, a very fair point. i guess we'll have to see how this plays out once we get to the actual legislating of trump's agenda. what they say right now is, particularly on the point of the cabinet, are these are outsiders, right? the wilbur rosses of the world and rex tillerson, these guys have had plenty of success in their lives and a lot of it dependent on washington, but have not been part of the system and are bringing new ideas -- even when it comes to wall street, they're interested in loosening the dodd-frank regulations, not tightening them. that may help -- may have helped prosecute some of the guys that marty bennett is so upset didn't get held responsible. >> you wonder what his nagter would think of bringing ga

part of this administration, goldman sachs one of wall street's biggest firms.resident promised to drain the swamp but aren't the six of you part of what's been called the wall street washington revolving door? >> look, chris, i came to washington to make america great again, that's what i do every day, i roll my sleeves, i work with the president, i work with the amazing staff that the president has put together in the white house and that's exactly what we are trying to do. >> what do you think of bajara? >> i don't really have an opinion. >> wait a minute. you were the president of goldman sachs, you were one of the leaders of wall street, this guy was going after wall street and public corruption for seven years, you don't have an opinion? >> no, i don't. i was involved in wall street in running a bank. i'm involved in washington right now, you know, in big corporations you have division labor of certain people that take care of certain obligations and certain parts of your business an i was not involved in that part of our business. so, you know, you can't

. >> goldman sachs will lead the way. s winning year to date in terms of underwriting across the board. this will get them 1% to 3% fees. we have shrinking over all in the equity underwriting revenue. know 2016 was pretty lackluster in terms of ipo in the tech space. they want to run that back up. we also see goldman sachs with the stabilization role, but all banks looking to earn some fees on this and will want to see that trade pop and stay there. joe: i want to go back to uber for a second. they have had so much terrible news. everyone is excited about snap, sigh of relief. uber is huge. cooper is bigger than snap. ofre seem to be a lot questions about its business. how much anxiety is that causing prime ipoabout this candidate looking so shaky? >> silicon valley loves to hate uber as much as the rest of the world. the way in terms of pr strategy. uber is realizing they have to treat drivers well. we will not be having automated cars for the next five years or so. thatneed to make sure the the demand and supply side of

outflow since december while money managers boosted inflows to the highest level in 16 months. ♪ >> goldman sachsnveiled the largest of the redesign of its trading hub since 2009. it was tearing down walls so money managers can sit shoulder to shoulder as part of the redesign goldman will move about 500 employees on three floors to one floor. the move will be completed by he end of april. entell has agreed to buy mobli from israel. it's about $15.3 billion equity value. that represents a 34% close on friday. it makes software that alerts drivers to pedestrians and unintended lane departures. ♪ oliver: that is your bloomberg business flash update. still ahead the commodities close. how the impeding blizzard set to hit the northeast is going to impact the natural gas market. is it hype or make a difference? ♪ scarlett: from bloomberg world headquarters in mid down manhattan, this is bloomberg markets. commodity markets are closing in new york. begin with the soft commodities. the usda boosting its outlook for brazil's soybean production. the number one export of that modity. u.s. held that title fo

brokers like goldman sachs, morgan stanley.ot think this capital rate gets them higher in the u.s. and globally. they are not viewed as a trusted value added mma advisor to technology companies and other fast growth companies. that is where most of money is being made these days. jon: deutsche bank saying they want to be a top-five trading bank. you doubt them doing that. what is your stride -- their strategy? >> fortunately, equity holders are getting severely diluted. 50% new shares of stocks. maybe stocks will do worse and coming days. we think that debtholders will get impaired overtime. we do not think the capital will reduce systemic risk nor counterparty risk. basically, there will have to be some german state intervention. i think deutsche bank combining the transaction processing business, corporate, and trading is not the way to go. in the u.s., a lot of the transaction process is separated and separately capitalized because it is so important to the payment system. there are still a lot of things that do not make sen

chair, you would not be able to vote to enforce the law against several big banks including goldman sachsdeutsche bank, barclays and ubs, is that right? >> yes, senator. >> thank you. those banks have repeated by violated securities laws in the past few years. if they violate securities laws again in your first two years as s.e.c. chairman, you can't vote to punish them. >> as the nation reports clayton represented wall street banks during his career, goldman sachs lawyer, bailout, defended financial and foreclosure fraud settlement with the u.s. government. with us we have a power panel of experts. professor of policy management and sior vice president of social justice at nyu here, the new school in new york. also richard farley,out of wall street wars, epic battle wall street system. back with us david corn, chief of mother jones. is this a problem for enforcement and what about the argument trump officials and others have made there's nothing wrong with knowing about the industry you're going to oversee? >> it's the fox guarding the henhouse. so i think it's a problem. it's a problem

as you know, last year, goldman sachs agreed to a $5 billion settlement in a lawsuit that arose out of what happened during the financial meltdown. the acting associate attorney general of the justice department at the time said and i quote, this resolution, referring to the settlement agreement holds goldman sachs accountable for its serious misconduct falsely assuring investors securities its sold were backed by sound mortgages when it knew they were full of mortgages likely to fail, unquote. this was a very serious breach of trust with respect to goldman's clients. you mentioned at the outset you wanted to put an end to shady practi practices. would you agree that what goldman did during that period in falsely assuring investors that securities it sold were backed by sound mortgages when it knew they weren't was a shady practice? >> senator, i think that -- i think that settlement speaks for itself. i'm not -- i'm not familiar with all of the facts of that matter, but i think the settlement speaks for itself. >> let me ask you, you represented goldman sachs, right? >> i have, yes. >

you can make more money and a hedge fund than at a big bank goldman sachs or jpmorgan.ventually, over time, hedge funds started attracting the best students out of ivy league colleges. math graduates from m.i.t., young, ambitious, hungry kid with phd's in science and computer programming. often these people are flocking to hedge funds. brian: where did you come from to a hedge fund? sheelah: i came from a very different background. brian: where did you grow up? sheelah: toronto. brian: parents were from? sheelah: my father is from india. my mother is from the midwest. brian: is that name indian, kolhatkar? sheelah: yes, it is south asian. brian: there are a lot of indian americans you are writing about. did that cross your mind? sheelah: it was obvious. it was remarkable. there are a lot of south asians in all corners of the government, the hedge fund world. i would occasionally ask people if anyone thought about that, and the one explanation i got was that many of these insider-trading rings that the government was pursuing spring up out of personal relationships and p

goldman sachs says depending on how beholden congress is to campaign promises, they don't get this done by may or june, they could just leave it all together and move on to tax reform. senate majority leader mitch mcconnell weighed in and the timeline for that to politicalo this morning. >> i think finishing on tax reform will take longer but we do have to finish the health care debate, up or down, win or lose, before we go to taxes. >> reporter: and all this kwaubling over health care worth noting is mainly on the house side right now. there's no telling how the senate feels about this. there is so much criticism leading up to the draft coming out on monday. i know they're all studying it but there could be a tug of war here. >> on top of all the trade organizations that you mentioned are already out against this plan, they're also a number of conservative organizations that are out against the plan, such as the catto institute. it all comes down to numbers. what do the numbers look like so far even if it's early going? >> it's really hard to tell. they need 218 votes in the house and

i thought okay i will get into equities just like everybody else and i took a job at goldman sachs. that is where what began as were my future career took shape while other people were on the trading floor passionate about equities i would look around and watch cnbc on the different screens. my focus is on the economist. that's what really had my interest. and what intrigued me the most was there is a constant stream of commentary at the time saying that if the economy grew too much and people prospered too much there was a negative downsides would cause inflation. i grew up in the 1970s i know what inflation is its evaluation of the dollar. when the treasury shrinks the dollar. it's something that occurs exclusive of academic growth. investment surges and so the price of everything drops. i've looked throughout history. motorola put it out. half hour of battery life if you want to make a call from savannah to atlanta it will cost you a fortune. i thought nowadays it you you can get mobile phones for a fraction of the price and i knew from history that the first mainframe computer w

so, that is the reason why goldman sachs is up as much as it is 39% since the election. everybody else had done so well, but goldman is the big winner in the stock market from the election of donald trump. there you go, the closing bell, the dow closing about 40 points lower today. >> i like the picture, ali, ring the bell for gender equality. >> not bad. maybe oneay we'll have some reason to do it. kate, i'll take it from you, have a great afrnoon. >> take over the next hour. >> it's been a very full afternoon actually. >>> good afternoon, everyone, i'm ali velshi in for steve kornacki. day 46 of the first 100 days of donald trump's administration. topping the agenda right now, travel ban, take two. >> three of the nations are state sponsors of terrorism. the other three have served as safe havens for terrorist countries. >> well the signing of a new order. the scrapping of an old one. president trump taking a second stab at measures to halt immigrants from some majority muslim countries from entering the united states. also on the agenda,

for a time goldman sachs was the best performer. up about 3.5% today.steins worst performer in the dow. down .75%. expectations rise for a rate increase this month from the fed. the yield on the ten-year up ten basis points for much of this day. now at 245. as rick santelli pointed out. the yield on the ten-year is flat. that's exactly where we started the year. >> the important thing here is, even though the yields have moved up a little bit in february, banks are doing well, we talked about fund flows today. was the retail investor coming back. put up some numbers on etf flows. s&p 500, gold, midcap. that's the corporate bond index at the top, all with significant inflows in february. this is an indication that retail investors are putting money back into the market. january and february fund flows numbers together. $87 billion combined. that's the best two months of inflows for etfs as they started keeping record. some of it is obviously the trump trade. some of it people coming back into the market in general. good sign. 350 new highs today on the n