do you agree in the sentiment with the goldman sachs note?ou don't know if it is 6,000 s&p year-end number, but agree with the thesis. you are one of the people who has come on the show bullish on small caps i want to show you a chart under performing the equal weight and s&p everybody continues to be bullish on it. what do you see the situation? some estimates show people seeing this move higher significantly to achieve >> we go back to valuation matters. if you look at some other charts, which i could show you, if you buy stocks at high premiums, the subsequent returns are muted relative to when you buy them on inexpensive basis. i know we have been saying that about other trades and it hasn't really panned out. i think at this point small caps have a lot of activity in the bio-tech sector and some technology companies in small cap. we are looking for catalysts of m&a in small cap we think the fed has clamped down on mergers. when the fed lowers rates, and we think they will slightly lower this year and rates will eventually come down, smal

she wasn't doing that bad at goldman sachs either, let's be clear.offer or something. >> i wonder, listen, this is now speculation, rank speculation, does she want to be part of what looks like to be a mess? i mean that is, that's a legitimate question to ask, given all that's going on there. obviously she is not the only executive to leave. we know all the stories that were coming up. we covered it. we've been very fair with david solomon. there are have been tougher pieces. >> yet he hasn't come on. >> listen if he came on tomorrow i would still do the same type of reporting. liz: it would be fair. we want to hear the story. >> that's true. >> come on, david. >> we love to hear his side of the story and why goldman sachs is not a firm in disapray. why it's not lost its fastball, despite every year being the premier investment bank? why is goldman still goldman? liz: got it. >> he would serve himself well talking, discussing that with you and i. liz: charlie, thank you very much, charlie gasparino. >> yeah. >> we've got four minutes to go before the

i do want to talk about goldman sachs. ldman is interesting to me because it has been underperforming. what is the catalyst for goldman to catch up? >> that said, most of the earnings came from the advisory business and wealth management business. we have the minute ipo coming up. as well as m&a activity. it will benefit as we see declines. it is only trading at about 1.2 times book value. a relatively cheap price. we think there will be upside opportunity in the months to come. >> pretty cheap, speaking and relative terms. we are awaiting the m&a. that would benefit the entire sector, not just goldman. but with smaller banks, we are concerned. in addition to the endgame, we do not know what the regulation will look like. and sell, we are hesitant to allocate money to banks. there are financial services that we like, but they have a little bit too much information that is unknown. >> there are a lot of known unknowns. i'm sure they would love to know what they will end up looking like. we had over to chips. tell us about th

next is goldman sachs co-head of market research, timothy moore. we are talking to people at the moment, what will be the big driver in the second quarter? tim: we're just finishing the first quarter and there is a few things we can mention about that in terms of the dispersion of returns. but looking forward, the key areas we investors will be focusing on will be five main factors. number one, obvious but important, is the fed and the prospect of the start of a cutting cycle and we think that will be amplified -- pretty much every central bank in asia will be embarking on a culling cycle, of course excluding the bank of japan. rates is number one. number two, geopolitics. the u.s. election is getting in gear and there will likely be some increase in geopolitical noise. we have two other important elections, one in india and one in korea. third is earnings. fourth would be various policy specific issues, i would north korea has a catalyst coming up with its program. and last, it sounds like market voodoo, but seasonality is really important. we see

maria: i want to get your take, don't invest in china says goldman sachs cio, this is just this weekestment officer of goldman sachs is saying our view one should not invest in china, just a bit ago yet they rethink pushing the chinese stocks and now it looks like goldman is getting religion even as china blames its poor economy on the united states and tensions the foreign minister of china blaming the united states for bilateral tensions worse on the sidelines of the two sessions earlier today. he accused the u.s. of failing to fulfill promises in america is obsessed with suppressing china, you know that the national people congress is underway in china this week and the premier announced that beijing will boost the military spending by seven and a quarter percent, he also said china is vowing to resolutely oppose separatist activities in taiwan independence and external interference. i spoke with the state department spokesperson morgan ortagus yesterday she was here on the program discussing the national progress underway right now in china, watch this. >> we don't believe dictat

i learned at goldman sachs how humbling this market.endous tailwinds, but when one of your ideas goes against you, you have to explain why a person should buy more, or why they should cut their losses. i also learned to let your gains run, cut those losses. i learned the hard way. i had a real cantankerous client, a real estate tycoon i tried to win over for ages. he said he didn't want trades, he wanted long-term investment. i told him that i thought this stock would be a terrific addition to his portfolio, he agreed, and i got him 10,000 shares. i called him, and said bob, sell the 1000 shares. i thought he would think me. was furious. he told me i had said it would be a good long-term position, that could have great gains over time, he wasn't the least bit interested in only making $8000. then he questioned my integrity, and wondered if i was turning him. i was scorched, i was burned, but it taught me a terrific lesson. you don't want to turn your investment into a trade. bob was right. i was vindicated, despite myself. finally i lea

and goldman sachs initiating royal caribbean.e operator offers best-in-class execution with incremental ranges. >>> toyota, panasonic, nippon steel, and nissan among the biggest companies agreeing to union demands for wage increases. they've been looking at it. the moves now pave the way for a potential shift in monetary policy at the bank of japan's meeting next week. >>> eu's lawmakers are set to give fievl approval on the ai. it will signal how other countries look to regulate the red-hot tech. >>> and volkswagen expects vehicle orders to grow next month. the carmaker says it started the year with a clearly positive trend compared to last year as it focuses on-ramping up new vehicles and reducing costs. >>> all right, coming up, the one word that every investor needs to know today, plus the hotter than expected cpi report not discountering our next guest. why she says the bull market remains firmly intact. if you haven't already, follow our podcast. if you miss "worldwide exchange," check out spotify, podcasts, or other apps.

it is tapping goldman sachs and wells fargo to prepare for the debut.ompany was valued at $1.7 billion in 2021. >>> shares of novo nordisk are looking to push deeper into record territory this morning after is surpassing tesla in market value. this is after positive trial data for a new obesity drug. shares of novo nordisk falling in the pre-market. up over 30% year to day. you will hear more from the ceo on "money movers" at 11:00 a.m. >>> at 8:30 a.m. eastern today, the big market event of the week. release of the february jobs report. we get fed speak from john williams. he delivers comments in the 7:00 hours. the jobs report is the catalyst for the market as we close out the whipsaw week for stocks. the stocks are in the green. the dow would open 20 points higher. nasdaq off the highs of earlier today. for more, let's bring in tiffany mcghee. good morning, tiffany. >> good morning, frank. >> it's been a wild week. jay powell on the hill. jobs report and state of the union address. a lot for investors to consider. also the s&p hitting a new record. w

goldman sachs says commodities are set to advance as central banks lower interest rates. um and oil will see the best improvements. let's bring in clara marques. do you agree with what goldman is saying? clara: you're right. they are feeding into a bullish mood in commodity markets. we have seen the carlyle group at goldman and the idea that rates coming down will stimulate demand. china doing less badly than expected. india picking up. there are tailwinds and we should be looking for a strong 2024. a handful of commodities, so they will have to be picky. looking at oil, that is quite important. this will not lift every vote. tom: what other commodities should we be keeping our eyes on? talking about geopolitics, there has been a focus on russian reef winery from ukrainian drones. evidence that thinking or having an impact. beyond oil what commodities are looking to move? clara: it is a wide ranging group of asset classes. jonah tax on refineries are tightening oil. it's a tight market with strong demand. if you look at the comments, they were bullish. elsewhere i would po

jonathan: we will catch up with goldman sachs up next.hs looking to diversify. ♪ [alarm beeping] amelia, turn off alarm. amelia, weather. 70 degrees and sunny today. amelia, unlock the door. i'm afraid i can't do that, jen. why not? did you forget something? my protein shake. the future isn't scary, not investing in it is. you're so dramatic amelia. bye jen. 100 innovative companies, one etf. before investing, carefully read and consider fund investment objectives, risks, charges expenses and more in prospectus at invesco.com. welcome to ameriprise. i'm sam morrison. my brother max recommended you. so, my best friend sophie says you've been a huge help. at ameriprise financial, more than 9 out of 10 of our clients are likely to recommend us. our neighbors, the garcía's, love working with you. because the advice we give is personalized, -hey, john reese, jr. -how's your father doing? to help reach your goals with confidence. my sister's told me so much about you. that's why it's more than advice worth listening to. it's advice worth talkin

goldman sachs chairman on why u.s. equity market dominance is set to continue.hat's next, this is bloomberg. ♪ ♪ tom: welcome back to bloomberg. markets are set for fresh records and the nikkei top 40,000 bolstered by a record session on friday. we are joined by the head of investment strategy group and wealth management cio at goldman sachs. thank you for standing by. start with the upside. is there anything in the way of this? >> things on the upside and downside. earnings have surprised in the first quarter so that is supportive of the u.s. market. not emerging markets. earnings support will continue in as people become confident, that will support markets. there does not have to be an immediate catalyst and we could have a trading range because after a long rally you tend to have pullbacks. we don't think that will derail the trend. there are risks but the main driver would be lower inflation, lower interest rates and easier policy. specifically the u.s. where we expect for cots and that supports the market. tom: interesting, strength coming through and cont

stuart: goldman sachs head guy david sullivan said inflation may be stickier than anticipated.ticky? going to stay with us for a long time? >> yeah, it is, and the fed's mandate, i agree 100%. fed mandate is 2%, not 2.5% but 2%. all this discussion about the fed reducing rates because they've met their challenge on reducing inflation is completely incorrect and going to remain above 3% would be my guess and will stay quite a long time and it's not only energy policy causing this, it's also the fact that we have bills like the science and chips act and inflation reduction act, which is pouring $1 trillion of free money into the economy and fuels the fire of inflation and so it'll be around for quite a listening time and so anybody thinking we're getting three cuts from the fed this year in my view is living in fiction. stuart: the market is cali. >> e yeah, but it's beginning to real estate this inflation enough is not 6% anymore will remain around, i think, 2.8, 3.4. that's going to be the range for years to come. stuart: it's manageable. >> it is manageable but the fed is not

in the chief strategist at goldman sachs wealth management don't invest in china that is from goldmanquite a change in what were hearing from some of the global managers who were all in on china just a couple of years ago, thank you david kudla joining us. breaking news nikki haley will deliver remarks at 10:00 a.m. eastern and charleston south carolina. it's being reported the wall street journal is reporting shall be dropping out of the 2024 presidential race we will follow it and we will have more as we come out of the short break. stay with us. all when i was your age, we never had anything like this. what? wifi? wifi that works all over the house, even the basement. the basement. so i can finally throw that party... and invite shannon barnes. dream do come true. xfinity gives you reliable wifi with wall-to-wall coverage on all your devices, even when everyone is online. maybe we'll even get married one day. i wonder what i will be doing? probably still living here with mom and dad. fast reliable speeds right where you need them. that's wall-to-wall wifi on the xfinity 10g network

for instance, goldman sachs, goldman is looking at 5100 by the end of the year.hat is interesting for gold man they see the rally picking up strength and momentum as the year goes on there is bank of america, she just hiked her target last week to 5400. but what i thought was interesting was the reason why she hiked it. it is not necessarily because of the fundamentals but she points out that bull markets end with euphoria, the sellside has actually grown more bullish on equities. so you know, the point is, she says, that they have to be bearish, right before they can actually, actually say we're euphoric or at least not enough folks are euphoric just yet. there is a market itself. what is interesting about the rally, if you look at the last rallies going all the way back to 1949, all the bull markets, this one, there is a gray area here and sort of like, at the bottom in 24 gray area. we're at the bottom of the trading channel. this is one of the slowest bull markets we've had since 1949 if you look at that so put it all together, where are we right now with all

this comes at a time when goldman sachs out with a note cutting estimates and price target down to 190ting ev headwinds and they expect 435,000 vehicles to be delivered down from 475 and now expecting fewer than 2 million deliveries for all of 2024. just as a refresher the company delivered 1.81 million vehicles last year and the estimate out on the street is for 2.06 million to be delivered this year, so now you've got goldman saying, i don't think they get to 2 million. take a look at shares of tesla over the last three months, remember, even though the stock is down 25%, yeah, a bit of a bounce and the next real catalyst won't come for a couple of weeks. that's when we get the q1 deliveries, that will be happening in the first week of april. mike. back to you. >> i've been trying to puzzle out the implications of reports about potentially raising prices in europe. i mean, clearly, the need to cut prices and the sacrificing of margins has been a big overhang on tesla, but when you still hear about byd cutting globally their prices, i wonder how to make sense of this potential move in

we've seen goldman sachs adjusting their forecast and they expect to see for next year. does bloomberg intelligence lie? >> base case, 23 is reasonable. until something cracks like an equity market meltdown they will cut. if something happens they will go. but at best, three cuts for now. the fed will try to back expectations. tom: thank you very much. we continue to keep across the bank of japan story saying the price target is insight but data showed the virtuous cycle is strengthening. plenty more as the bank of japan governor continues the process. his analysis is next. this is bloomberg. ♪ ♪ tom: welcome back to daybreak europe. the governor continues the press conference after the decision to raise interest rates, ending yield curve control. prices not expecting a spike. the price target is in sight and ueda sees the virtuous economic cycle strengthening. japanese jgb benchmark is down close to three basis points. let's bring in chief economist in tokyo for the latest analysis. your topline response, they've done it since 2007, the last bank two and negative intere

the chief economist for goldman sachs once warned that toxic mortgages would ignite a recession he was right. now, he is making a more optimistic bet on artificial intelligence. and the economy seen as matt egan is all over this story. normally you come with these doomsday scenarios. this is kind of the opposite of that. >> it is the opposite. john, listen, young hot. so this is one of the most closely watched economists on wall street because yes, he has mailed a few big calls, including predicting a soft landing for the us back when a lot of people thought of recession was inevitable. so i asked you on a hobbyist about ai. i said it's going to be a job killer or a job chris >> all of us more efficient. take a listen >> it will destroy employment in some areas. i mean, there will be parts of the market where the, you know where tasks can be replaced to a degree that is going to result in reduced employment there. but then you'll also find other ways of innovating and creating more jobs somewhere else. i mean, this is the story of economic growth and innovation for hundreds of years no

goldman sachs downgrades estee lauder and moving to uncertain.wn .75%. >>> daiwa raises nvidia to $900. nvidia is in the right place as the right time. shares of nvidia up 1%. >>> price target increase on broadcom from bank of america moving from $1,500 per share. boa citing upside drivers to the company's full year 2024 sales outlook with upside from artificial intelligence. shares up franctionally right now. >>> time for the global briefing. meta will move news sections in april. it follows similar actions for those in the uk, france and germany. meta is moving away from the business following misinformation and content controversy. >>> in china, the weak data for manufacturing is raising pressure ahead of the parliament meeting next week. the late lunar new year holiday accounting for weakness as factories shutdown as workers go home. >>> and ryanair forecasts traffic under 200 million passengers after the previous target of 205 million. boeing forced ryanair to cut previous orders. >>> coming up on "worldwide exchange," one word every investo

annabelle: that was nikhil bhandari, head of apac natural resources and clean energy research at goldman sachs a couple data points to note, we just had producer price inflation numbers dropping for japan. over the month of february we saw a pickup for the reading year on year 6%, higher than the estimate for .5%. and a pickup from the reading prior. month on month also be economist forecasts, .2%. the survey had been for .1%. again, it is that story of inflation that is picking up in japan. how likely we are to see price pressures in place. inflation would trend lower towards the end of the year but a lot of focus on whether we are going to see any sort of policy shift from the boj at its march meeting next week. we will have more ahead on daybreak australia. this is bloomberg. ♪ annabelle: some of the latest corporate stories we're tracking. shares rallying after reporting a spike in bookings attributed to its cloud computing business. revenue for the division jumped 25% to $5.1 billion in the latest quarter. oracle is focused on expanding its cloud infrastructure business to compete with th

according to the analysis of the american goldman sachs banking institution, the price of copper per ton will reach over 10,000 dollars in the next year. the main reason for this increase is the decrease in supply. egypt is known in latin america. the price of the third most consumed metal in the world increased by 4 percent compared to the last week. one of the factors affecting the price of egypt is its supply and demand situation . the most important of these factors can be mentioned the volume of demand from china and the supply of egypt by chile. there are other factors on the price of egypt. they have an effect, such as the price of the dollar and the euro, the volume of extraction and production, for example, the price of oil, the fluctuations of the london stock exchange, in contrast to the increase in the price of this red gold, its production has been accompanied by a decrease due to the closure of some mines, the amount of production of factories that extract and produce bullion, as well as other products affiliated to egypt with a serious decline faced. part of which is r

goldman sachs says they will resume actively investing in commercial properties in the u.s.ar. the ceo sees a buying opportunity. this comes as the executives called the u.s. the most oversupplied office market in the world. investors had taken on too much debt. both of those remarks follow the chairman jay powell's warning during congressional testimony last week of the likely wave of bank failures stemming from the commercial real estate struggles. let's get more on where the sector stands with an insider. the ceo and president of marcus. one of the largest real estate financing firms in the u.s. you have a pulse on things. thank you for being here. >> good morning, dom. >> this is a debate. we have the bull and bears coming up. although, i would say there are folks out there like brookfield with exposure to the market. they have some weight. where do you stand on this? how good or bad is the commercial real estate market right now? >> you called out two of our institutions we do business wih all the time. the book is being judged by its cover. office space is one reality.

he used to work for goldman sachs, starts his own private equity firm.- you know, this deal probably is theirs if they want it. there's a few levers to -- is to dot and ts to cross, and we'll get to that in a second. he brings a lot to it because he has two really good media people. he has jeff shell who, you know, ignominious exit from, you know, cue the inappropriate behavior with a female reporter, but, you know, again, smart guy. jeff zucker, former head of cnn. these guys know the business. and from what i understand, if this does happen, shell definitely plays some role and possibly if even zucker. liz: both of these guys are seasoned -- >> smart guys. liz: -- tv news executives. >> we should point out a lot could go wrong. here's why. shari redstone, who owns paramount through a holding company created by her old man, sumner, the media mogul, national amusements, you have to buy that. you back into the ownership of paramount assets, and then you have the thorny issue of common shareholders. so you buy her thing for $4 billion, is mario gabelli and

they are talking about governments, earnings strength, so that is the view from goldman sachs.e a look cross asset at how the performance has shaped up in the first quarter, because the underperformance of the bond markets in the last 24 hours, we have seen that on the back of comments coming through from chris waller, but to gains coming through for the equity component. the bloomberg dollar index and on the downside markets as well. commodities performing relatively well, but in terms of cross asset clear outperformance of equities. let's have a look at what is happening in the cocoa story, because that is been one of tech headlines that is driven interest this week with cocoa at one point crossing through $10,000. this is the equivalent in terms of what you buy for the equivalent of one ton of cocoa. the crop situation in west africa is a challenge pushing up prices. 4.4 ounces of gold for one ton of cocoa. 22 tons of soy. three months of rent in new york on the back of that. just in terms of the context for the upside what you can buy. complications may be for your chocolat

according to goldman sachs, it will be up by only i.5%. to various reasons, primarily because of the global economic outlook right now, especially what's happening in europe. and then china, of course, because china is the biggest consumer of oil in the world, but the economy hasn't really picked up the way many had anticipated, which has actually affected supplies. these are voluntary cuts where countries don't have to formally agree at the opec plus level. but the fact that all the countries made these announcements together, which is saudi arabia, russia, the uae, kuwait, iraq, itjust shows that it was a coordinated effort. it's a coordinated effort and a coordinated action. the next meeting will be injune. and i think what opec plus will look for is that if there is an uptick in oil prices by that time to a level where they feel that maybe now they can force these voluntary cuts, which is not expected anytime soon, but that is something to watch out for. to japan now, where it's been another record breaking trading session for markets,

. >> goldman sachs now expects the boj to cut rates tuesday on the back of stronger wage outcomes and a number of news articles suggest the move is on. for more let's bring in stephen engle in tokyo and mark cranfield here. stephen, will they or will they hike rates tomorrow -- or won't they hike rates tomorrow? >> it looks like they will. the former w governor of the boj admits they will go and it is pretty much baked in now, whoever leak leaked it to the press, it will likely happen tomorrow, you can almost bet on it. but is it the right decision and will there be any telegraphing going forward of future rate hikes, probably not, we will probably get a very accommodative speech from the governor tomorrow essentially the central bank through the 90's and then led up to of course the continual deflation in japan before the turnaround essentially was filled with policy mistakes many people say prematurely with growing stimulus and then getting the political blowback so they will be pretty crawfish -- cautious while at the same time amend to sleet stepping away from negative interest ra

adds more questions about the transparency of this government ship you mention at the top how goldman sachs in this interview is saying clients have been every client ask them is now the to get into china and her advice was no. that was not the time because of the repeated stresses in the chinese economy. the main pillars are under stress of the chinese economy. there is policy credibility and lack of transparency in policy. that is where we are waiting at 9:00 new premier, li qiang will lay out his work report and his priorities. it will be the first clips what the senior leadership wants to do in 2024. in the autumn, they did not hold the traditional third plenum which lays out economic priorities for the long-term. we are guessing they will be trying to tackle the big economic challenges. haidi: opacity when it comes to other parts of government. we have been waiting for an appointment of the foreign minister. we are not likely to get that either. >> because yesterday we got the agenda for the national people's congress and this loads onto the points i just made. the agenda is truncated.

local reports suggest tightening is likely to be announced tomorrow with goldman sachs expecting a hiket this meeting rather than april. >>> apple is using the gemini a.i. tool for the iphone. this is according to a report in bloomberg which says the two companies are in discussions to let the google a.i. models power the features on its ios. apple had similar negotiations with openai. let's get to david roach, strategist at independent ext strategy. what do you make of how bullish the sentiment has been around some of the macro, but the a.i. story? >> well, i would say first of all you have to remember that europe is out of fund from the united states for years. there are worse things you could say about europe at the beginning of this year. it became evidence that any sort of moderate news would be good news. whereas the u.s. has optimism, including around the a.i. story. of course, if you look at shares like nvidia, itis expensive by my standards. in europe, you can buy into technology at more modest rates. you have a lot of solid stocks like in the granola grouping which mirror a lo

the first talk i recommended was goldman sach's.f kleenex. at the same time you have a great dividend, 3.8%. are you not surprised that the price turning is lower than i think it should be. do you think the changes can make people realize that the stock is just too cheap verses its peers? >> that's what we are betting on. i think we -- you know i think we deserve more and can do more for our share holders and that's why we are holding our investor day. we believe there's a higher degree of growth. there's a higher margin of -- higher -- degree of margin production that we can drive and we can do that through a fast organization. >> and just one last thing. when i look at the people may not realize you have six billion dollars brands. can there be seven, eight or just trying to make the billion dollars brands bigger? >> we are focusing on 12core brands and we have six today. we love a few more and you know of course if anything goes as we plan we will see that. >> i got to tell you i like it as much as when i first recommend it. it's

jp morgan strategists join goldman sachs in playing down concerns that the magnificent seven tech stocks are overvalued. reddit ipo saying they plan to sell 22 million shares for $31-$34 each, raising as much as 2024's biggest offerings so far. and sticky food inflation. tony sare some -- tony sarsam joins us to share how price conscious shoppers are navigating the store. ♪ katie: welcome to bloomberg markets. you take a look at these market and it is definitely a monday morning. the s&p 500 up by about half of 1% building on last week's losses. the same thing if you look at the nasdaq 100 and the big stocks. all the while you are seeing a little bit of a bump to volatility. the picture now higher by about one point or so, looking at a 16 handle. but let's get back to reddit because reddit and its investors looking to raise as much as $748 million, one of the biggest ipo's so far this year. ed ludlow joins us from san francisco with the latest. $31-$34 per share, where would that put us? >> the upper end of the range, it is a valuation of five point $4 billion. but if you take a look at

according to the analysis of goldman sachs , the price of each ton of copper will reach more than 10,000lars in the next one year. this institution attributed the main reason for this increase to the decrease in egypt's supply they know latin america. the price of the third most consumed metal in the world increased by 4 percent compared to the last week. one of the factors influencing the price of egypt is its supply and demand situation. the most important of these factors is the volume of demand from china and the supply of egypt by chile. other factors also influence the price of egypt, such as the price of the dollar and the euro, the volume of extraction. and egypt's production, oil price fluctuations in the london stock exchange, contrary to the increase in the price of this red gold, its production has been accompanied by a decrease due to the closure of some mines. the amount of production of factories that extract and produce ingots, as well as other related products egypt has faced a serious decrease, which is partly related to the closure of a number of mines in chile , and a

>>> welcome back to fast money, let's get to our chart of the week, and that would be goldman sachs, tting levels not seen since november 2021, before slipping today, but still up more than 5% this week, it's best since december, can goldman keep going? you're not a goldman -- >> what's dj -- saw, he's laughing all the way to the next, you know -- whatever that is, but no, i mean, look goldman is not crushed morgan stanley, which was their main comp, banking from capital markets perspective, obviously morgan stanley transitioned more into wealth management, i say good for goldman on this. if you look at -- it doesn't need indication of anything, if you look at the strength of core businesses and how they continue to run a profitable bank that's why the stock trade is where it is. >> if you think that deals are back, ipo market is open, then be in something like goldman. >> that's the big theme for this year is probably in 2024 you're going to see more deal flow and a rebound in investment banking, and i think goldman sachs, i think they're well positioned to benefit from that more so

the mighty leader is determined to take china in the wrong direction, just the other day we saw goldman sachs on investable. >> this was stunning, goldman and the rest of the street love china for years and years, they know people are starting to say chinese stocks have lost $7 trillion in value since their peak in 2021. it is now the time to buy and goldman sachs says no one should invest in china and that's true because xi jinping is starting to impose more strict totalitarian control and those controls affect business throughout two history losing to chinese leaders do this and every time it's a disaster not just for the economy but society as a whole, yes china is on investable. maria: one thing i'm waiting for a what you're waiting for is to see somebody in leadership, somebody who will want to do the right thing to pull the capital market lever get the communist party of china companies out of our exchanges and stop enabling american investors to fund the expansion of our number one adversary. >> absolutely. every dollar that we invest in china go to the chinese military we say the priv

we have leslie picker sharing comments from goldman sachs, ceo, and the company's outlook. kate rooney on how tiktok's loss could be amazon's gain. and pippa stephens wraps a big week for energy. leslie, david solomon addressing the troops as well as the shareholders. what did he have to say? >> yeah, so basically it's a turning point for the firm according to solomon. he calls 2023 a, quote, year of execution for goldman sachs while saying he's optimistic about 2024. remember, in 2023 goldman was backing off from its consumer expansion and taking write-downs from that as well as exposure to commercial real estate all while m&a particular activity dropped to a ten-year low. it's a new year. one that they will focus on global banking and markets as well as asset and wealth management. in the letter, solomon said that the firm, quote, stands to benefit as capital markets rebound. he also said the firm increased its share in banking and markets in 2023 by nearly 350 basis points since 2019. on the asset and wealth management side, goldman surpassed its alternatives fundraising

you mentioned goldman sachs ceo david solomon out with this saying the u.s.re resilient than expected the way think inflation may prove stickier than many anticipate. kevin o'leary agrees. >> it is not only energy policy causing this, it's also the fact that we have bills like the science and ships act. we also have the inflation reduction act which is pouring a trillion dollars of free money into the economy. that fuels the fire of inflation and so it will be of long for quite a long time. >> never the less the buy demonstration is focusing efforts to green energy appeared in the next 10 minutes or so we are expected to hear from the energy secretary pushing president biden's climate agenda at a conference today. it happens to be in texas which is the country's largest producer of oil and gas. john. >> john: trouble for us with the set up. thank you. >> sandra: let's bring in charles payne. great to see you. first up, gas prices. politically this is important. where gas prices going to be on memorial day? >> you can see the chart turning up that these prices

goldman sachs just made some changes to its conviction list. wait a second.oing up, buy it, is that what it is? lauren: market opportunities defined by goldman sachs after extensive research. stuart: who's in, who's out? if. lauren: i can tell you that apple is out. there are concerns about reduced demand for the iphone specifically. goldman still maintains the buy rating which means it till loves the stock, just not enough to pit on the conviction list. they see strength in their services department and, of course, that install base. so many people use apple products. they also added amgen. they're developing a weight loss drug, so this is a way you can get into that a market. monday.com helping organize work now, and they're removing merck and vertex. stuart: one of the stocks that justin took off in the last couple of weeks was amd. they've taken off the off to the point they've just crossed a milestone. i think i know what it is -- lauren: market cap of $300 million. i am thanking dell for this 3.7% gain request today. amd's chips, like nvidia's, also pow

. >>> goldman sachs' ceo david solomon laying out the strategy for 2024. leslie picker joins us with the details. hi, les. >>> solomon calls 2023 a year of execution for goldman sachs while saying he's optimistic about 2024. remember, in 2023, goldman was backing off from its consumer expansion and taking write-downs from that as well as exposure to commercial real estate all while m&a ak ctivity dropped to a ten-year low. you can see goldman has lagged many peers, even this year, year to date. but it's a new year, one that the firm plans to spend focused on its two core businesses, global banking and markets as well as asset and wealth management, according to solomon's letter. now goldman -- global banking and markets, which includes investment banking and trading comprise nearly two-thirds of goldman's revenue last year, even in a weaker deals environment. solomon said in today's letter that the firm stands to benefit as capital markets rebound. this may be a bit more constructive than comments he made even six months ago at a conference where he said a

goldman sachs has a new paper that companies don't pass cost savings to customers as quickly as theyost increases. what happens in the cycles, weaker players go out of business. it is called creative destruction. not only margins held up mightily. they're expected to move higher. look at these 2024 estimates. lower input costs check. that's a good thing. lower labor costs, check. tech strength, check, we're moving in the right direction yet somehow we're still going to have higher profit margins in 2024. so charles, will making too much money be the demise of capitalism? that is the question. charles: an age-old question but certainly front and center in this election. thank you very much, kelly. it is really amazing bah you can almost argue, not necessarily wonder how much wall street is taking this seriously. i want to bring in someone a captain of industry if you will, don luskin. don, profits have become a four-letter word again. is there any truth to this, the businesses are greedy? >> oh, for god's sakes, please, please, i'm not a captain of industry. i'm only a sergeant of ind

. >> jason snipe, goldman sachs, down five straight days.ust mentioned a lot of financials have been doing quite well. what's up here? >> it's been struggling as of late, for me, i'm thinking about the second half of the year. they are unwinding that personal finance business i think is important. they were getting killed for that. it hasn't performed in the short term. we'll see in the second half. >>> kate rooney has the headlines. hi, kate. >>> special counsel robert hur continues his testimony on his investigation into president biden's mishandling of classified documents, earlier today he defended his descriptions of the president's memory in that report. >> my assessment in the report about the relevance of the president's memory was necessary and accurate and fair. most importantly, what i wrote is what i believe the evidence shows. >>> health and human services secretary xavier beccera in a meeting today to make more emergency funding available to those affected from a cyber attack on its change health care payment division three wee

if i was a first-year internet goldman sachs and i said unemployment is down to 4%, credit spreads aretight, why is that a body -- bad model to sit here and say maybe we are not that restrictive at all? >> so there is kind of short run and long-run. i don't think that the current level is very problematic in terms of near-term growth. as you know, all forecast on growth is well above the consensus and continues to be. over time, once the short-term moves in financial conditions, short-term moves and fiscal policy and other forces play themselves out, i think it is pretty clear that the current level is above normal neutral levels. so over the medium term, it is very likely that we will see declines in rates, but the path is going to be guided by the data. lisa: so you don't think it will be important for jay powell to push back against some of the record highs on stocks and some of the tightening and credit spreads. >> he would never comment on near-term market moves, of course. >> you say that, but i remember that meeting where that journalist said to him that markets were rallying an

luke, goldman sachs recently said china is uninvestable. how do you see it?t? this started when we added china to the wto in 2000. we made china rich, we plugged into china, invested in china to help make money. we helped make them a lot of money. we're so engrained in china, as we unplug it will be inflationary to us in the united states when we plug into other countries. we want to invest into mexico and japan as we invest and move away from china. maria: gordon, your reaction? >> absolutely right. this has become a national security issue. the chinese regime made it clear they consider the united states to be an existential threat, the declared a quote, you unquote, people's war in may of 2019. we dismissed propaganda, what our enemies say about us, but this has great meaning in communist party lingo. if we don't understand that, if we don't unplug our you economy, we're going to lose our country. the chinese will use points of contact to subvert our society and bring it down. maria: we will leave it there. gordon, always a pleasure to talk with you you. t

i heard the concept of suitability when i was at training at goldman sachs. now called private wealth management. i have been buying individual stocks for myself and others before a half decade before i got to goldman in 1989 as a summer intern. at the time i was watching financial news network. that of the predecessor to cnbc. whenever i could i'd run to the harvard business school library where they had all the old research reports from long gone firms like base and lehman about stocks totally on a catch to catch can basis. those who grew up with the internet have no idea how hard it was to access information in the '80s. if i liked a company i would have to ask the librarian for a microfiche of the firm's sec filings. these were little pieces of plastic and you read the file usually six months old by the time i got them. everything i did back then is online and updated. the imperfections were legion and more on that later tonight. i spent all week trying to find a stock that i thought would work. one stock that would be good for a week. where anyone who wan

maybe not as levered as goldman sachs but i do think you're seeing a recovery in the wealth managementn fact, schwab, i recently have added to, their nna rose 4.7%, which is one of the highlights in terms of getting new assets, and i think that bodes well for all of the banks in general, a real sticking point not only for schwab but for the group i like those three names those are the ones i have been adding to on weakness. >> jason, the return of capital markets is a big deal for your goldman sachs. >> i do believe capital markets will pick up in the second half. the stock is only up 5% year to date it's encouraging to see even the reddit ipo and other names come to market. as it relates to the space and i would say it's important we are seeing less interest rate volatility will play well. >> jimmy, you were on yesterday. we talked about citi, i believe it was mayo at wells was bullish about what he has been jpmorgan is the other one you own. what about this call for large cap banks, ones that excel and banks will do well in a lower rate environment >> it may be tricky. over six month

goldman sachs playing that game.hey're 5200, but they say if technology does well, and it has been doing well, the s&p could go to 6,000. no kidding, right, sherlock. speaking of technology, that's where everybody is, right? look at this. this is all the cash flowed into the market. equity fund this is year. technology killing it, getting all the money except for a little bit more going into industrials. interesting enough energy has seen the most money go out. energy is on fire right now. so maybe a lot of folks already regretting that move. it takes us back to whether or not tech can keep going. one of the things i find interesting about the tech rally now as opposed to 2021, these are not profitable tech stocks. you remember how great they did? talking about companies losing money hand over fist. if you make comparisons to now to 2000. keep in mind these non-profitable stocks, they have been down, they have not come back up. this is actually a good thing right now. it means people who are participating are looking

. >> like, goldman sachs has one, everyone is already talking about the rescue before the crisis can even happen. so, it feels like there is a lot of capital, it feels like there are a lot of layers who are like, begging for a blowup. there is a kid doing 600 million square feet of san francisco office real estate, i believe, right now. they wrote him up in the journal. there are a lot of white knights. there aren't enough crises for all of these white knights to fund. so, it is a little bit ironic, and it doesn't mean things can't get worse. but, right now, when everyone is already launching the rescue fund, it is really hard to start panicking over the potential for systemic risk. but of course, we are all adults, so we keep it in the backs of our minds. >> steve, i think josh said it best when you said that investors are going to be taking a second and third looks at the regional banks now, even if you believe this is idiosyncratic and it is not -- you are going to be going over these with find tube combs before you put money at risk. and i would gather that fed officials are goin

self-help, wells fargo has asset cap which is lifted in a positive for them in morgan stanley and goldman sachsn merger and revival of the share probably get water. they need more investment idea (♪) (♪) (♪) (♪) [car tires screeching] (♪) whenever heartburn strikes. get fast relief with tums. it's time to love food back. also available tums+ sleep support. jorge has always put the ones he loves first. but when it comes to caring for his teeth he's let his own maintenance take a back seat. well maybe it's time to shift gears on that. because aspen dental has the latest technology and equipment. with a staff that goes out of their way to provide exceptional care. plus free exams and x-rays for new patients without insurance and 20% off treatment plans. making it easier to get started with quality care. it's one more way aspen dental is in your corner. ♪ tourists tourists that turn into scientists. tourist taking photos that are analyzed by ai. so researchers can help life underwater flourish. ♪ hey you, with the small business... ...whoa... you've got all kinds of bright ideas, that your customer

goldman sachs came to these conclusions after analyzing customs data.ts. who asked for lime explains this by the rise in price of the domestic brand in india; it buys about a third of oil from us. in recent years , eurols was sold at a discount of approximately $30, this was associated with political risks, primarily due to the fact that oil transportation from russia was carried out mainly by foreign companies, but when new supply chains were formed, the price began to rise, at the end of last year the difference disappeared completely, even attempts by the group of seven to set a ceiling in... exports of russian liquefied natural gas in february increased by almost 3% annualized. according to kepler, it was possible to ship about 2,800 thousand tons. deliveries to european countries and turkey exceeded 15 million, and more than a million tons were sent to asia. in addition, russia occupies third place in terms of lng supplies to spain in february. purchased liquefied gas from us for more than 5,000 gvv, and for the entire last year more than 72,500. s

self-help, wells fargo has asset cap which is lifted in a positive for them in morgan stanley and goldman sachs on merger and revival of the share probably get water. they need more investment ideas and ben sasse watch out teslangi another ed maker in the fast lane. stay right there. arting it eight months pregnant... that's a different story. i couldn't slow down. we were starting a business from the ground up. people were showing up left and right. and so did our business needs the chase ink card made it easy. when you go for something big like this, your kids see that. and they believe they can do the same. earn unlimited 1.5% cash back on every purchase with the chase ink business unlimited card. make more of what's yours. ♪oh what a good time we will have♪ ♪you... can make it happen...♪ ♪ try dietary supplements from voltaren for healthy joints. jack: we talked a lot about the mag seven but we haven't mentioned tesla investors are not happy with what is going on. >> tesla stock is down 29% and will they be part of the magnificent seven but no longer with the big and s&p 500 is very easy to

self-help, wells fargo has asset cap which is lifted in a positive for them in morgan stanley and goldman sachs on merger and revival of the share probably get water. they need more investment idea you always got your mind on the green. not you. you! your business bank account with quickbooks money now earns 5% apy. (♪) that's how you business differently. intuit quickbooks. with dexcom g7, the most accurate cgm, you can achieve diabetes results without fingersticks. see how exercise affects your glucose, making it easier to spend time in range and lower your a1c. ♪ ♪ no, my denture's uncomfortable! dracula, let's fight back against discomfort. with new poligrip power max hold & comfort. it has superior hold plus keeps us comfy all day with it's pressure absording layer. time for a bite! if your mouth could talk it would ask for... poligrip. jack: we talked a lot about the mag seven but we haven't mentioned tesla investors are not happy with what is going on. >> tesla stock is down 29% and will they be part of the magnificent seven but no longer with the big and s&p 500 is very easy to say this

clark has already scored endorsement deals with goldman sachs, gatorade and nike, which released this ad yesterday just moments after she broke the record. caitlin byrne. isn't done just yet. iowa heads to the big ten conference tournament this week, where she can add to her scoring total. and believe it or not, there are some sports books where you could bet that the detroit pistons would take a flier on her and draft, hey, why not? >> here's one thing i love this. she said this last night. she said about the record. she said a record is just a record. she wants people to remember the way she played with a smile on her face and her competitive fire, and would love for iowa to put a bow on the season and win it all. wait and see. we'll keep watching. coming up, how two horses managed to snarl traffic on a major interstate plus a decade later, what's now driving the renewed push to find malaysian airlines flight mh370. >> the new details this morning and meeting sir indiana jones. >> there he is. why this real life patrol cat is racking up quite a following on social media. you're watc

high-grade weekly sales with names like volkswagen and hyundai and goldman sachs banks usa for sale since 2019 driving the total to over $27 billion. king streets brian higgins seeing a lot of rate financing that needs to happen. i spoke with him yesterday. brian: going into the end-of-the-year you will see slowing. i think it will ultimately be looked at as no landing, soft landing, progressing into a harder landing. a lot of refinancing needs to go on on the reef -- real estate side and corporate credit side. if new issuance is up like it has been the first couple months of the year investors will say, why do i own this in more -- my portfolio? this is more attractive. better leveraged, better industry, more cyclic i leave. it will toss out more marginal credits. sonali: bruce richardson is ceo of marathon asset management and watches all markets closely in and out of them every day. when you think about the idea interest rates could stay higher for longer, the reality now is that even a summer rate cut is at the flip of a coin, really. how do you think through the uncertainty and how i