tom: sonali basak reporting from goldman sachs.inue our team coverage with reporting from the dead rabbit tonight. we are looking forward to that, right now, as well. [laughter] how come we don't get these gigs like sonali? lisa: i just want to see the internal workings of your thought process. like you are watching sonali, and then the dead rabbit. tom: you know, drinks? romaine: you can go down there and broadcast later tonight. lisa: we should do a remote. tom: protech, radio and tv, you have a bloomberg terminal on yourself, ok? so you go, -- so you go, al, look where euro sterling is. it's terrible. can you use more come party -- more campari this time? lisa: i think it is really interesting to see how this shakes out, whether people think it is valuable or whether people do want to be home more and have gotten adjusted to having a more home centric life. i don't know the answer. romaine: one thing that will be interesting too, the fight for talent. it will be interesting to see how they will approach the return to office and

you think most companies will follow goldman sachs and return or do a hybrid like facebook?been great to work from home. you can be around your dogs, kids, spouse and be in a more comfortable environment. the pandemic caught many people off guard. it's really brought up a great opportunity and zuckerberg pointed out that if it allows companies to take advantage of talent from all over the united states because they don't have to come to a major city to work in a certain office. what is interesting is, it depends on the company culture. we've seen chase, other finance institutions are trying to get more people back in. social media companies, technology giants are excited about remote work. you have to be proactive about cyber security. >> sandra: what do you think will happen here? the case of facebook and mark zuckerberg said that he too has enjoyed the aspect of his life where he spends more time with his wife and kids. he said in his memo that he expected half of his company's 60,000 employees work remotely in the next decade. how covid changed the work environment. >> yo

for the lower end of the bar, it's goldman sachs, a smaller bank than the rest. now will they be or go below that is what we will be watching. romaine: we are getting region financial saying it does plan to consider a dividend read -- a dividend increase in morgan stanley saying a 100% boost. expected? sonali: repurchase authorization , the expectation was $4 billion, that goes to show you how much more money they had on hand. dividend at $.70, they double their dividend. that's what they've done at morgan stanley and these numbers are still coming in. that sets the bar quite high. $12 billion and that's what people expected j.p. morgan to bring in alone. joe: obviously investors don't like it when banks can't do dividends and buybacks. obviously there was a time that was limited in the wake of the virus. do you think it's to compensate for that in subsequent quarters? sonali: part of it is compensating for what they couldn't do before but even with that capital before everything became a huge issue for them in terms of the markets and in terms of covid-19, they

goldman sachs is requiring almost all of his u.s. ployees back at their desks, marking one of wall street's most ambitious returns to the workplace since the pandemic began. reporting from goldman's headquarters in new york. >> goldman sachs is bringing its employees back to the office with some exception. for most employees, it will be back to a five-day office work week. thousands of interns will start for the first time in offices as well while vaccinated employees across the country will no longer need to wear a mask. those without vaccinations -- european offices will be behind. goldman sachs expects to open offices in europe as early as next week. >> meanwhile, it was a very different day for citi, located just a stones throw away. you are starting to see more of these company policies. >> it is a very big gap indeed. while goldman's return is historic that requires virtually everyone -- there will be some flexibility when everyone returns. everyone will be required to come back to work and provide proof of vaccination. citigrou

. >>> crude is bubbling up to the highest level in two years we speak with the goldman sachs analyst on oil's next move. >>> meme trade under fire. regulators hinting at a crackdown that could up-end markets. >>> inflation alert. key economic data to juice stocks out of the range bound trade. it is thursday, june 10th, 2021. you are watching "worldwide exchange" here on cnbc good morning i'm dominic chu in for brian sullivan today kicking off this thursday morning with stock futures pointing to mixed action today as you can see here, the dow is higher by 47 points. 21-point loss at the nasdaq at the opening bell after the only average in the green yesterday, the nasdaq 100 is on the way for a first five-day winning streak of 2021. you can see 10-year which is at 1.496% below the 1.5% that many traders are watching the big money story is inflation. economists expect consumer prices, excluding food and energy to jump 3.5% in may that number is due out at 8:30 a.m. eastern time and comes after the inflation for april surged 4.7% year over year its fastest pace since 2008. in the cryptoc

tom: sonali is on site at goldman sachs. to me, this is a huge cultural statement by goldman sachs. the partnership is known from the weinberg family as saying, we are different, we are working, let's go. we have breakfast and dinner for you today. >> and music at some headquarters. tom: do i get the surveillance dinner tonight? lisa: if you stick around. as a survey that shows that younger employees actually want to come back to the office, because they feel like they are being left behind. there was a survey that showed about two thirds. tom: matt miller, where are you on this? i can't say anything, because i'll get in trouble. matt: i have never worked from home before. for me the office is the only thing i know. i can't believe that others who have been working from home for a year will be back to five days a week. tom: we have the nato disbursement and russell's -- in brussels. this is not as scripted and planned on television as it was in cornwall where we could sit on a scene. this is a bit helter skelter, the gentleman from canada arriving. act in 1949. -- back in 1949. matt

dudley at goldman sachs.a guy out of germany via wisconsin, madison, and oxford and i was like, ok. then he stopped the u.s. economy market world with mortgage equity withdrawal. that is how he first came to my attention. jan hatzius has gone on a claimant goldman sachs. -- gone on to a claim at goldman sachs. the x axis out for any fed chairman is always a challenge. what is the challenge for chairman powell right now as he looks out to 2023? jan: there is a number of positions that have to be made before that. when did they start to taper qe? they have said they will not hike rates until that process has concluded where they have strongly implied it. that will then determine what do you think when rates are going to start rising. at the moment the dot plot is basically saying no hikes until the end of 2023. that will be on the table today and i think it is a close call. my best guess is they stick with the message they are sending. tom: jan hatzius predicts boring meeting. it is after-the-fact. our matt boe

goldman sachs saying an additional $500 billion of u.s. stocks will be bought by households and corporations through year-end, given a lot of people are sitting on a lot of cash right now. haidi: yeah. the question i suppose is where else do you said -- do you deploy that money? just about everyone we speak to says equities are on the board. i suppose the question is which pocket of the market? we know expectations are asia it will take a little more time to really work out what the tapering path looks like. we are expecting a rebound today. one of our regular guests from ig saying if the curve continues to flatten, if the tapering talk continues, we might eventually see that shift back into u.s. large-cap growth check, which we did not see overnight. and all this goes back to the inflation debate. lots of influential voices are calling for the fed to be more attuned to price fix, even with chair jay powell said to repeal his -- he's expected to say price pressures like like -- likely drop towards the fed's long-term goal. but not everyone

. >> goldman sachs seeing the light. meaning ge is a top pick >> plus ready for takeoff.nes has new planes and fresh interiors. with the spread of covid variants could the industry be getting ahead of it? we'll have all of this when "power lunch" returns. do you have a life insurance policy you no longer need? now you can sell your policy, even a term policy, for an immediate cash payment. we thought we had planned carefully for our retirement. but we quickly realized that we needed a way to supplement our income. if you have one hundred thousand dollars or more of life insurance you may qualify to sell your policy. don't cancel or let your policy lapse without finding out what it's worth. visit conventrydirect.com to find out if you policy qualifies. or call the number on your screen. coventry direct, redefining insurance. >>> welcome back oil has been such a story this year closing for the day. we'll see if it's up >> reporter: it's been a volatile session for oil today with the contract swing between 1% moves in both directions, as the market awaits thursday's meeting

soloman, the executive of goldman sachs, released a new single.contrasted over at canary ward in london. we are not seeing the en masse welcome back. goldman sachs not looking to get employees back until july which reflects the caution coming from the u.k. government. if you want to go closer to wall street headquarters of goldman sachs in new york, down the street is citigroup. they are not welcoming employees back mostly until july. even then, they will have a hybrid working model. yes, we have banks that goldman sachs welcoming people back but it is not by any imagination. it shows how banks are still trying to catch up and figure out what is the most sustainable model for getting employees back at this point. anna: thank you very much. dani burger with the latest on the banking sector. i wonder to what extent the ceo releasing a single is important to getting people back to the office. maybe others will try. let's go back to sebastian from bank of america. we won't ask you about releasing any singles, but in terms of the banking sector -- we h

is anybody at goldman sachs upset about that?d a new ceo for the last two years and change, and he is taking the firm in any direction. if 20/20 was the decade where jp morgan really -- if 2020 was the decade where jp morgan really became one of the strongest u.s. banks, there is hope that goldman will be able to rediscover its pre-financial crisis form. how they do it would most likely have to be quite different than before 2008. tom: do you see evidence that goldman sachs can pick it up and outperform as they did for 10 years before 2017? sridhar: if you can judge a banks performances by the number of people in the office, they goldman sachs stands to do well because they have been more aggressive and out there then any of their peers in bringing people back. but i don't think that is what is going to determine it. will that give them the runway to also carry out their consumer operations? we will have to see on that one. tom: thank you very much. lisa, it is going to be fascinating to see what wall street does. we go into the

sharon bell, goldman sachs senior research strategist, joining us. want to talk about catherine mann in just a moment. philip lane, chief economist at the ecb, talking about the fact that it is difficult to have inflation, and mr. sounding and mester -- and mester sounding very dovish. alix: you had the hawks front and center yesterday. then powell doubled down in his statement. we had an interview with williams yesterday, and now mester is floating the more dovish side. it feels like we are getting there. we are not there yet. it is too early. that is now the theme out of the fed. guy: the other piece of breaking news from a central-bank point of view is that we were trying to work out why did catherine mann leave citi. i think we all kind of got blindsided by that, so fascinating to talk to her about what she saw in the global economy. alix: love her. guy: amazing big picture view of what was happening, and then we get the news from the u.k. that she is going to be joining the mpc, which is a fantastic addition. alix: big fan. nothing bad to say ab

goldman sachs has told its staff they must disclose their vaccination status before returning to theent banking firms here in the us had said it is ok that they will ask their us employees to disclose whether they have been vaccinated, they are saying we are not asking you to be vaccinated, that is a personal choice, but we just want to know whether you have or have not been so we can safely plan the return to office work. the question is, when you have a firm of the stature of goldman sachs doing this, does this mean that other firms will follow their lead? i think that is the question and you're seeing some pushback from other firms like apple, simplyjust telling the staff that they will have to return to an office a couple of days a week in the autumn. that got some pushback, saying you are not recognising our lived experience of the past year. so it is a delicate issue, as we all try to readjust to life back in an office. it's been more than a century since the sea eagle has been spotted in southern scotland. during the quiet months of lockdown, the birds returned to nest. but no

we did have the likes of goldman sachs. jp morgan has some and dishes -- ambitious plans. office vacancies are still about 62% above pre-pandemic levels and also post 9/11 text. these financial hubs want to get people back into the cities, they wanted for the local economies as well but it's not going to be such an easy ride. david: a reminder that we do have new york elections in november. right now, we want to head over to the qatar economic forum powered by day to of the summit focus on sustainable worlds, discussing powering sustainability. let's listen in. >> hello, everyone. i'm kailey leinz from bloomberg television in new york and i am joined by the chairman and ceo of honeywell. we will be talking about sustainability. i want to begin with you. you are one of the largest utilities in the world. you have operations on four different continents and you are really a mover in investing in clean energy and you want to double that capacity by 2015. when you look at the pipeline, where is the greatest opportunity to do so? is it wind, hydro, solar? >> for years, we have

also more broadly about the sector and why you think it represents opportunity >> so we own both goldman sachs and jpmorgan financials are stable in our client portfolios. we like goldman and jp because of the diversified revenue stream so i hope pete is correct and jamie dimon is not correct regarding that but, you know, again, what we expect to see, you know, today and really in going into the third quarter is we -- now that the fed's restrictions have been lifted we're hoping the banks increase their dividends that's a good thing for total return we buy stocks not just for the increase in price but also for the dividend so again, looking at the sector in its totality, i disagree about wells fargo. we don't own wells fargo it's primarily for an esg reason and we've seen that clearly through 2020 in their stock price. they just have a lot of issues but we really also like the smaller -- these smaller financial services companies smaller financial advisory companies that have diversified revenue. so we're just looking at the whole sector and hoping that the earnings season kicks off in a posit

and i'm wondering why. >> made big money in goldman sachs.e big money in jpmorgan i have to tell you i put the money in paypal which i think is terrific giant position in wells fargo. i will say in my club call next week i really do feel like i made a mistake selling goldman goldman's franchise is stronger than i thought i think they're doing a lot of really good things stronger, meaning even during the doldrums i think they're doing quite well so i made a mistake here i should own one more. i don't know which one i'm looking at all of them jp morgan, knocked down on the amazon thing that's kind of interesting again, but i made a mistake. the earnings power here is much better i thought if brakes came down people would sell the stocks, they haven't sometimes you have to own the fact you got something wrong >> of course, we appreciate the contrition, but do you think if rates stay here now or around the level it limits the upside >> that's what i was thinking would happen i said, look, i got a beat on this i think rates are actually going in a

coming up, visa has teamed up with one of the top banks in the u.s., goldman sachs. i will speak with the visa chief financial officer on the new deal, crypto efforts, and much more. and, later, jeff bezos is taking a trip to space and bringing along his brother. we will look at more details around the expedition on blue origin's first left off carrying human passengers. this is bloomberg. ♪ emily: the u.s. has recovered most of the $4.4 million paid in cryptocurrency ransom to the hackers behind the colonial pipeline attack. the attack in may resulted in a temporary halt of fuel supplies across the u.s. east coast. colonial pipeline ended up paying russian linked cybercrime group the darkside in order to restore operations. meantime, i want to take you to an interview we did -- >> the bitcoin wallet that darkside hackers used to to collect a ransom payment from a victim. emily: that was the fbi director. we will continue to bring you updates on that story. meantime, i want to take you to an interview we did last week with the chair and ceo of snowflake, that caused

yvonne: that was the global head of commodities research at goldman sachs.g up, we follow the fallout from the shutdown from the cyberattack. like china may have a lot to lose. this is bloomberg. ♪ yvonne: we have some breaking news. india watering 300 million vaccine doses from a local manufacturer in india, as the country battles the coronavirus, they are racing to get people vaccinated. what we are learning about this covid-19 vaccine is going -- undergoing phase 3 after showing promising results. it is also being developed by the company, the protein could be available within the next few months. there thinking august and december is when these doses will be manufactured. potentially some good news f india. haslinda: one company is set to resume production at all facilities. they are in the process of coming back online after a cyberattack. joining us now is an asian agriculture reporter. what is the latest? reporter: it's good news because it sounds like the plants are back in action. getting some of that action in australia, a little bit quiet on the a

beyond that, goldman sachs here, a financial, i believe that goldman sachs has really under the leadership of david solomon transitioned itself to one of the most diversified financials on the street. the asset management business, very quietly is beginning to grow we know about the trading revenue that they're driving in the capital markets. there is the financial there is the hypergrowth technology and then an energy name would be lng, shen ear energy natural gas prices up 21% this month alone. looking at rising demand for liquified natural gas. unfortunately the supply of vestals to deliver that lng is diminishing. and where those vestals are going, tyler, it's taking more time to carry. they're going to asia. they're going to summer. they're not going to where they are traditionally were which was europe a much quicker shorter route, better turn around moving to 2022, the demand stays strong, the vessels are challenged i like lng. >> chennier. >> amy your choices for the second half. >> sure a diversified group as well regeneron a leader in molecular medicine cheech at 16 times earning

up next, visa teams up with goldman sachs.n an exclusive interview i will speak with the cfo of visa about the new deal, crypto efforts, and much more. that is next. this is bloomberg. ♪ emily: everyone knows visa for its logo on billions of cars used by consumers around the will. the card is now working with goldman sachs to rollout the new transaction banking arm of. joining me, visa cfo vasant prabhu. you are working on a debit card as well. i'm curious, what is so important to visa about getting into these type of payments, given how ubiquitous you are when it comes to credit cards? >> it is great to see you again. i am sorry we have had these connectivity problems. thanks for having me. i'm just going to be on the phone i guess. coming back to your question, as you know, cross-border payments have always been difficult with a lot of friction attached. visa has done a lot to make cross-border payments easy when you travel, for example, or commerce. how much you are trying to send, you might have to deal with multiple platf

you see goldman sachs trying to do this, the infrastructure is much more updated and current.sier prospect. having bricks and mortar is where the cost -- it is a higher cost proposition. doing it in germany is different to the u.k.. alix: also if you can get the interest rates. marcus on savings is 50 basis points. that feels like an enormous amount when you looking to write your -- when you look at your regular retail balance. it is crazy the numbers we have to look at like that. guy: what is interesting is the u.s. banks do not want any more money. alix: please go away. guy: can you please stop taking it? this is happening at the corporate level and the retail level. can you stop giving us money please? let's talk about what the fed shift -- the fed shift is going to be significant -- means probably for assets and what it means in terms of what the banks are doing. big banks -- the fed shift prompting big banks like goldman sachs and deutsche bank to abandon their calls the euro will rally against the u.s. dollar. anwiti bahuguna, colombia thread needle head of asset strateg

maartin over the weekend. >>> still on deck, how goldman sachs is throwing water on the idea of bitcoin. especially among institutional investors. >> announcer: today's big number 73%. that's how much of global gdp is generated by countries that have said they will cut carbon emissions to zero according to bernstein research net zero plees adgre now covering 8 of the 10 largest economies by gdp i needed just one simple way to pay it all off. it was an easy decision to apply with sofi loans, just based on the interest rate and how much i would be saving. there was only one that stood out and one that actually made sense and that was sofi personal loans. it felt so freeing. i felt like i was finally out of this neverending trap of interest and payments and debt. ♪♪ it's another day. and anything could happen. interest it could be the day you welcome 1,200 guests and all their devices. or it could be the day there's a cyberthreat. get ready for it all with an advanced network and managed services from comcast business. and get cybersecurity solutions that let you see everything on your net

jeff currie of goldman sachs will be joining us next.stocks in the last five days crushing the competition, well outperforming. while we had to the close, it is green on your screen, but volume is really like. spanish and italian banks -- while we head to the close, it is green on your screen, but volume is really light. spanish and italian banks are leading the way. the close is next. this is bloomberg. ♪ wanna help kids get their homework done? well, an internet connection's a good start. but kids also need computers. and sometimes the hardest thing about homework is finding a place to do it. so why not hook community centers up with wifi? for kids like us, and all the amazing things we're gonna learn. over the next 10 years, comcast is committing $1 billion to reach 50 million low-income americans with the tools and resources they need to be ready for anything. i hope you're ready. 'cause we are. (announcer) the core is key to losing weight, getting back in shape, and feeling good. introducing the aero trainer, designed to strengthen

so the chance here obviously came from goldman sachs and he'd say, no, he wasn't benefiting the goldman sachs brigade. he was benefiting ordinary people with his fellow schemes is help out to who to eat outside the more controversially . i mean, the subtitle of the book where you say, why work doesn't pay as people start to emerge. obviously the pandemic is still going on here. why does work not pay? i mean, that is a question that the vast majority of people in britain probably talking about is they come off low and back into jobs if they're lucky. well, basically the, the architecture of renting capitalism. make sure that most of the income from growth all from changes in the system go to the owners of property, financial property, physical property, or so called intellectual property. and these means the less and less going to people who rely on labor for the incomes. so we have this growth of the precarious on which i've written several books and we've gone what i've called in the book prospect of a triple k. in the sense that before the patent damage the crass from the leaves of pe

your family has ran goldman sachs for so much of its existence.are one of the companies that are asking people to come back five days a week. do you think after this pandemic that this needs to change? peter: as i mentioned, every company has its own cadence. goldman sachs is doing what they are doing. i'm sure it's been well considered. that suits them. i don't think it's one-size-fits-all. alix: last question, this is looking forward in terms of growth. there's been a lot of activity in europe, particularly from some of the private equity guys. where you guys going to be most aggressive in expanding your business in hiring? andrew: we've had a simple mission since we started, and that is we help our clients address complex and strategic financial challenges. we will expand into new industries in product lines and service lines as well as geographically. we have a terrific team on the ground in europe who actually started the european the -- business the day we started in new york in 2006. my copresident runs that business. we run it together, gl

we speak to the former goldman sachs vice chair on her new venture fund. haslinda: next, a look at what is at stake after a cyber attack on the world's largest meat producer. we bring you the latest as they restart operations. this is bloomberg. ♪ haslinda: welcome back. a russian linked group was behind the cyberattack on the world's biggest meat supplier. the company says the majority of its u.s. food plants will be back by tomorrow after production was halted. joining us now who is the head of asia cybersecurity for bloomberg news. what do we know about this group? reporter: we have reported that the hacking group believed to be responsible is called [inaudible] they are linked to russia. we don't know if all of the hackers are based in russia itself, but we know some of them publish exclusively in russian. we know there is a understanding between russian hackers and the state, as long as they operate and operate on targets that are not russian, that they are pretty much about to do whatever they want. it fits into the modus operandi, wreaking havoc in

it certainly does look a lot like before covid out here outside goldman sachs. people hugging, people giving high fives, certainly happy to see each other, and for the first time, about 2000 interns being brought into goldman sachs' offices as well. guy: thank you very much. happy to see yet stop raining as well. doesn't exactly say go back to the office in the rain. thank you very much, indeed. it is really interesting to see how different folks are handling this. goldman trying to bring people back, trying to get momentum behind the story. citi taking a very different attitude, continuing the hybrid, pushing that story out until later in the summer. alix: i have to wonder what the aftermath of that is going to be. is it going to be enough to pay people to get them back in the office, or do you need to help subsidize willing workers to stay by other stuff? it is also a very different environment than in europe, which is super hybrid at this point, versus getting anyone back into the office. guy: it is different industries within these firms as well. does asset

there are a lot of names in this field not familiar to us, not goldman sachs or jpmorgan.t over time some of these companies whether it's coinbase or others are going to become as familiar as us and as profitable perhaps as the other names i mentioned. >> yeah. i think you are hitting the nail on the head. good to be with you guys when i left goldman sachs four years ago now that was the thesis and seeing that playing out. seeing the companies go more mainstream, seeing measure capital markets activity seeing the names pop up in large rounds of financing or spac talk or whatever it might be and i think that's only going to continue to ramp up across all the categories not only where we live but custody, lending with blockfi and the different segments of the market. >> new generation of millionaires minted as a result of that. do you see this pyramid of investment narrowing over the next decade or so, so that there are not more or fewer dominant players and that consolidation and getting out of the initial positions that entrepreneur is there? >> you have seen it in the mar

goldman sachs, i post songs on the gram if you care, you mhtinig fd something you like we'll see thatd morning meme stock mania amc ceo looking to cash in on the stock. meantime, a hedge fund bought 8.5 million shares of the theater chain and then reportedly sold them for a profit >>> elon musk in focus the tesla ceo tweeting about "baby shark" overnight while a new report calls into question his relationship with the s.e.c. i don't know what that stands for but i don't think we're allowed to say it. >>> plus, the world's largest meat supplier looks to bring production back up to full speed after a cyber attack hit and hit his plants not those plants manufacturing plants wednesday, june 2nd, 2021. and "squawk box" begins right now. ♪ >>> good morning, everybody. welcome to "squawk box" here on cnbc i'm becky quick along with joe kernen and

morgan stanley and goldman sachs leading lenders in boosting dividends. shery: and we talk to a company after pay about how the pandemic is changing their global strategy. this is the picture across wall street. u.s. futures muted at the open, but this after the s&p 500 closed at another record high. we had the dow falling with growth concerns. reflation trade waning, a choppy session. those tech stocks outperforming. philadelphia semiconductor index at an all-time high. nvidia, the highest since february, with thriving bond yields also helping tech shares. energy companies though led the losers, given that we did get oil underperforming. right now it is extending those declines. bancshares after the bell, take a look at these stocks. dividend and buyback announcements are rolling in. morgan stanley leading the pack after doubling quarterly dividends. we will be following those stocks after the close. we are seeing j.p. morgan underperforming. of course it was all about the equity markets. and facebook joining the trillion dollar club and gaining more tha

nearly 13% what's also working today for the bulls, goldman sachs, jpmorgan goldman sachs, best performing stock on the dow the stock is up big. up about 24% it is worth noting the company has struggled with competition from amazon to google and prior to this deal being announced it was trading below its ipo price. the big winner here, carl icon owns about 18% >> it's first day of june. it's going been calmer few weeks for the markets but will it continue as prices surge and labor and supply shortages get worse. michael is here with the summer set up for stock >> the summer set up was a sideways spring. it's been kind of firm but quiet or maybe indecisive. this point here in mid-april when it started to flatten out we're about at those levels wr reached. earnings came up 50% 25% points better than expected. you had inflation concerns talk about tax hikes down the road 60% of all stocks are higher since then it seems more like traction than not. you have some seasonal patterns that come into play on june. june on net has been a net negative month it's more many the back half and more cenrec

terranova playing off what kate has to say it's interesting one of the notes we're focused on, goldman sach s talking about inflowing being the strongest since 2007 and how buybacks are strong as well i've got mike wilson, though, on the flip side in terms of positive view for now. he says a 10% to 20% correction for the broader indices is coming this year what do you think? >> i think you have to absorb the information in both of those notes. respect each of them and understand that that is clearly defining the environment, scott, where there is so much uncertainty. i think where there is uniform views is that even if you were to absorb a 10% to 20% correction, you will recover from that and the market will end back up higher so i think, given everything that we have right now, fundamentally in place, that points towards a continuation of the existing bullish trend 10% to 20%, i'm suspicious of that i don't know if i see that i think the bull trend is in place. i just expect that it's going to be very slow and move more in line with up the turtle pace not so much running like a rabbit. >>

a 60% increase at goldman sachs. two dollars a share. that two dollars is the largest announced dividend. jp morgan also rose its dividend to 11% to one dollar a share so you are seeing some big jumps here, very welcome announcement after a pandemic year in which the banks were constrained at paying these dividends so there will be a political question on how much these banks are lending to the economy versus paying dividends and increasing stock buybacks when it comes to their returns to shareholders. haidi: how much of this is good news baked in? what is the forecast? sonali: some of these higher than expected and some of these are hard to bacon. for wells fargo, their dividend is double from their tencent dividend that was interesting but it is still much smaller than the $.51 that wells fargo is paying before the pandemic and before they had to really bake in the costs of all the scandals they faced. for citigroup, their dividend will stay the same at 51 and's and they also have to increase their stress capital buffer so we have good

morgan stanleywanted boltons goldman sachs wanted to build out. and here we are. >> yeah. y, few succeed i think goldman falls under the, you know, few category, respectfully, i worked there, love the place they have gotten themselves in three different vert comes and they are getting the multiple on the back of it so we're understanding each other, it's important to point out, morgan stanley is now trading significantly north of two times tangible book. it will be interesting to see where they report that when they report earnings. 85 in terms of price, that was a huge top in 2000, another in '07. obviously, through it now. you wonder if we do a back to that '85 level and see what it trades like. morgan stanley has definitely asserted itself and the investment banking side of things and then tim's point they are deserving of that multiple. >> more than two times book has to be one of the highest value banks on the street, karen i mean, is that warranted? does it deserve that >> i think it's somewhat of a different animal than a bank so to tim's point, more recurring revenu

goldman sachs. house warns china if it doesn't allow a proper investigation into the origins of covid-19 -- the details, head. -- ahead. this is bloomberg. ♪ ♪ >> let's get you a look at some of the moves. declines trading in the first minutes or so of trading here in australia. westlake, on the other set of the translation. borrower is selling westlake. part of a broader strategic move to focus on the mystic business, of course. the outlook, remaining pretty mixed. this deal is a significant step following the strategic review. they had been very aggressive pushing into the new market in the u.s.. cba is another one we are watching. cba, off by almost 3.5% at this point. 600 tony $5 million australian dollars. -- 625 million australian dollars. let's get to the tech center of shenzhen. a percent employee was found to be infected with the delta variant of the coronavirus. it comes amid international pressure on china to allow a real investigation to find the arjun of the pathogen -- the origin of th

goldman sachs, citibank, citigroup, saying that longer-term, that will not work. we will see to what extent the consumer price rise plays out in the its factory date prices and then it is a question of downstream versus upstream. upstream, be price rises have been felt strongly indeed. he saw in april a tick up. they have had to absorb the costs simply because the consumer here is not strong enough. there is not strong enough demand. they have not been able to pass those costs on. core cpi, if you strip out energy prices, that is going to be of interest as well to get a closer look and a closer gauge of the health of china's consumer. shery: tom mackenzie in beijing. let's get to su keenan with the first word headlines. su: we start with e.u. leaders and president biden, they will commit to ending tariff disputes when they meet in brussels next week. draft documents reveal that both sides pledged to remove tariffs related to a steel and aluminum complex by the end of the year. also included is the plan to end a 20 year aircraft dispute that worsened under presiden

i was very fortunate that when i decided to come out at goldman sachs exactly two years ago, i had thatm my colleagues, but there was one colleague in particular who sent me flowers on that day this was a straight sis gender person, and that gesture, knowing that i had the support of somebody at highest level of the firm, de amall of the difference to me wondering what actually goes into your multivitamin? at new chapter, its' innovation, organic ingredients, and fermentation. fermentation? yes. formulated to help you body really truly absorb the natural goodness. new chapter. wellness, well done. person, and that gesture, [typing sounds] [music fades in] [voice of female] my husband ben and i opened ben's chili bowl the very same year that we were married. that's 1958. [voice of male] the chili bowl really has never closed in our history. when the pandemic hit, we had to pivot. and it's been really helpful to keep people updated on google. we wouldn't be here without our wonderful customers. we're really thankful for all of them. [female voices soulfully singing “come on in”] obsession

talk to goldman sachs, talk to the others and they will tell you hopefully it is minuscule. manus: it might've been exciting for everybody else, it was exciting for me, it's the first news conference up into in a number of months. but i didn't quite know what to do. the point about it is, what is politically acceptable on the global stage? would $80 be inflationary or politically acceptable? one analysts as $100 is politically toxic. so it's about trying to keep a goldilocks scenario of where we are in the oil market. our lead on the energy side said this is one of the most upbeat news conferences from the prints on the clear signs of improvement on demand. russia talks about a gradual increase in demand. so we are just seeing this reasonably bullish construct on the demand. let me show you what's going on with the markets. is it a warning sign? that's my question, more than a statement of fact. u.s. equity markets back a little bit in the red. european stock markets flying high. minors, oil, all doing very well. european stocks are now the lead equity market on the global s

goldman sachs and deutsche bank with -- abandon a bullish view. keep an eye on yields.ive-year paper is where the big spike was. we were talking about -- let's get into commodity prices. we have had a surge during the pandemic led by an upsurge. catalytic converters have increased as they contain the precious metals. in chile, copper is a key target for gangs. in canada, police are investigating a dramatic increase of timber. it is not commodity speculating traders, but crime which is driving it. let's get away food and agricultural reporter, and one of the authors of today's big take. what is happening is around crime and not speculators? >> good morning. as we know, commodities, it has been there for centuries. what is happening now, we are hearing about this increase all over the world. canada, nigeria, all sorts of businesses, people being targeted. car owners. it is hard to put it all together, but this is based on an interview with experts in law enforcement agencies who confirm that indeed we have an increase of activity. annmarie: why the increase in this boom o

let's not forget, they are competing against the likes of goldman sachs and morgan stanley.creased payouts after passing the federal reserve stress test those shares are higher but they are not keeping up with jeffries in response to today's trading or the dividends went up by 25%, the second increase this year. it goes to show you how well a company is doing. matt: thanks very much. dave wilson, bloomberg's stock editor talking to us about jeffries. for what it is worth, by the way, jp morgan is making a lot of headlines today when it comes to pay, as well as offices. it was first reported bank -- the bank has increased pay for juniors, $100 per year before bonuses as they compete to retain staff. then we heard that the main trading center in the eu. previously, jp morgan had voiced concerns about taxes and the way -- as well as regulations change so frequently in france, but now they have 250 people working full-time in paris and they plan to boost that by 800 i the end of 2022. -- by the end of 2022, and maybe it is going to help by paying more people. amber: paris, franc

one side likes city -- one side says flexible is the way to do it and then goldman sachs says you haveto come back. sally: yes and there's an interesting divide opening up. and what's more interesting i think of the consequences of this divide. as we saw, those who take the more flexible approach, will they gain an edge in retaining talent? because people have proven they can work flexibly and are hoping to. that could be an actual hiring tool for those who can offer that. all bank ceos tend to agree that working in an office is important for competitiveness and measure touring younger employees and collaboration and working from home is good for performance. but they are also coming down in these two different camps on how they react and whether to bring people back. with citigroup the plan is to open their offices to as much as 30% of staff with the majority being invited to work. matt: if i can work from home, my home would probably in the british virgin islands that that's not the kind of situation we are talking about for citigroup and others who have chosen this flexible model. y

goldman sachs.gan stanley and look at the nasdaq, not many on the nasdaq but they are headed by sky work solutions. comcast is up there. a deep he is up there. a broad range of stock industries doing well today and you are looking at new meme stocks. >> new ones being mentioned. 11:30 a.m. don't forget to tune in, did you see the stock yesterday? 97%, not a lot of news, last week's earnings, no news, more social media, and -- stuart: it had gone up because they have a deal with it. >> you don't jump from news from last week. not much fundamental news but a big rally in the stock and game stop, we are only up one%, pretty tepid compared to explosive gains. stuart: the means are still there and more on bitcoin. we told you about kathy would starting a bit coin etf but more news on bitcoin. mexican billionaires. >> mexican billionaire thought he could allow bitcoin transactions and the mexican finance ministry came out to say that's not intended in mexico but if you add to el salvador that is boosting

thank you for joining us jeffery currie at goldman sachs. >>> still ahead on "street signs. u.s. equity looking to start week on strong footing we'll have more next dealdash.com, the fair and honest bidding site. an ipad was sold for less than $24; a playstation for less than $16; and a 4k television for less than $2. go to dealdash.com right now and see how much you can save. remember, shipping is always free. >>> welcome back to "street signs. u.s. start up sofi will become a public company later today via a spac the move values sofi at $8.65 billion. we will speak to the ceo anthony noto at 1700 cet let's bring in the ceo of morgan free capital market. great to have you on the show. we had a guest yesterday on the show saying there were 400 spacs looking for targets. they all need to transact by 2022 looking for a company to acquire. it feels like the next 12 to 18 months will pose a big test for this product >> yeah, i think the great news is exactly as you described. we are finally reversing this two decade long trend of de-equity and taken back 500 of those over the past ye

haidi: -- haslinda: also had, goldman sachs is set to pay a delayed penalty. we bring you the latest. yvonne: up next, will seafood become the next phenomenon in the plant-based food market? this is bloomberg. ♪ haslinda: let's talk about food. one of asia's leading alternative protein companies, omni foods, is best known for its fake pork and is jumping on what it sees as the next phenomenon, plant-based seafood. yvonne: founder and ceo david young joins us. i think when people think about this as a story, they think about the documentary "conspiracy those quote and how it opened their eyes to overfishing in our waters. how much do you think that helps your market right now? >> we certainly could not have time the release of the documentary, but i think the release has really shown that light over the past two at three months. a lot of people who did not realize our damage to the ocean is up to that level of devastation and how our survival is deeply related to overfishing. yvonne: it is still quite nice, isn't it? how are do you think it can go? some say it

we had someone from goldman sachs on and you are on the same page on the slide of gdp back to something normal at some point. if we get sub 3% gdp, what does that do to rosenberg inflation? david: will look, if the economy slows down -- well, look, if the economy slows down, especially with fiscal withdrawal we see in the second half of the year, i think what happens is the output gap starts to widen again. it will bring this inflation run-up we have seen reverse course, and it could be very good news for a long duration asset. this is what the story there is. it was really about -- less about the dots. they have no weight historical. when you look at what is baked in already for the first half of the year, the fed is telling you they are expecting fourth-quarter growth to be close to 5%, which is up from what their forecast was before. tom: what do you have into 2022? they've got to get to two rate increases the year on, and so much of it depends on that level of gdp. do we get back to a potential gdp under 2%? do we go under 3%? what is your guesstimate? oystein: the fed is over 3% --

goldman sachs announced a full return to the offense for most of its employees.ck in on what big tech is putting in policies next. this is bloomberg. ♪ >> we decided to be proactive. we know that we wanted to go to -- of the sec. we know that we want to set the bar in transparent financial reporting. and yes, it may have taken a little bow longer -- little bit longer to be accepted but today we are happy to share what we have done in q1. we meet our targets. -- we beat our targets for . emily: talking about the merger between his company and the blank check firm completed by the end of the year. the deal -- was due to close in july but has been delayed as they work on an audit of its financials. we are watching. meantime, wall street has got busier this week. goldman sachs asked all of its employees to return to his downtown office monday morning. the banks neighbor citigroup says workers will not return until july. and even then many can work on a hybrid schedule. big tech companies taking different strategies announcing that amazon staff would work three days i

the economy will grow. >> we're getting calls for $100 barrel oil from goldman sachs and others i lovet rates julian emanuel have a great day thank you very much. folks, just like that, the show is over. that's it for us on "worldwide exchange" aka wex. "squawk x"bo is picking up the coverage next. have a great day see you tomorrow >>> good morning the s&p 500 within striking distance of a record high. now the market awaits testimony from jay powell. >>> the crypto slide continuing. bitcoin down 20% in the last week as china continues the crack i crackdown on digital krcurrency ethereum is down as well. >>> and americans are quitting jobs at record rate. what one company is doing to address worker burnout it is tuesday, june 22nd, 2021 "squawk box" begins right now. >>> good morning welcome to "squawk box." i'm becky quick along with joe kernen and andrew ross sorkin. welcome back, joe.

jp morgan, bank of america both of boosted dividends, as did goldman sachs.t was interesting is citigroup indicated they were going to keep their dividend at $.51, a more subdued move from them because their capital requirements are increasing. perhaps it is not a terrible move, given we are likely to see questions from lawmakers on bank dividends and payouts. dani: one sector or region of banks perpetually lower in terms of dividends, places like europe. can we expect banks and other regions to follow suit as well? >> that is the hope. the u.s. banks were able to do this because regulators have now lifted pandemic era curbs on dividends and buybacks. we are seeing that role through other areas of the world. here in asia, that is happening as well. in europe, the banks that were banned providing any a flip -- uplift through september, but they are having talks on bringing that forward. if they do, may be a part of some $50 billion for european bank shareholders for the likes of bnp paribas. yousef: appreciate some of those reviews. our finance reporter there.

that's according to goldman sachs. while the market is still small, analysts say energy reliability is a key revenue driver for companies looking forward. etf is up 5% up 13% for the month of june kelly, tyler >> pippa, with all of this solar storage that replaces the need for a typical generator, it uses stored power, not just stuff that's created >> that's exactly right. previously you had a backup generator from a company like generac. then solar companies now also offer on site battery storage. this means your solar -- rooftop solar panels will be making energy throughout the day, powered by the sun and storing it in a battery on site. and then you can tap into that should the main grid go down there's economic benefits here because some states have energy policies where there's a lot of demand when energy prices are high and then charge and great reliability when you have the storage on site you can reap some economic benefits from the battery. >> climate change is a big reason why he's bullish on these names. col

goldman sachs saying they will refuse to take a company public in the u.s.king a fema or minority representation on their board. you have various stock markets pushing back on companies that do not have a woman on their board or a director that is on a board that does not have a woman or a minority or person of color so it does feel like we are making some incremental progress but when you look at the headline, if this comes at the expense of other types of representation, then it's not a great thing. shery: at least it seems that perhaps we are seeing diversity also in the background of all of these people being taken to the boards, coming from nontraditional backgrounds as well. the share of directors with no previous boardroom experience rising to 38% from 28% so i will take progress where we can get it. let's get a quick check about markets and how they are looking right now because we are seeing a little bit of a muted start in qe stocks, not moving much, but this of course after stocks rose to that three week high. sydney futures, a little bit of upsid