goldman sachs around record highs. in large kept up with the market. >> they have.t's harder. depending capital market sensitive or not, ultimately get more activity, more stands, more ipos? less broken iposs that they'll participate and maybe you'll have a tiny multiple on that. it's not like i hate banks. i just don't think they're going to keep up as much as, you know, the better above gdp growers. >> bring in cnbc contributors, joe, and good to have you both with us. brin, all right. what do you make what adam had to say? does your view largely match up with adam's? >> well, i think the narrative of you have to own things, i don't think adam said this. i think you said this and then y'all talked around it. you have to only own things around a.i. and productivity. i mean, we haven't seen that productivity. once again i'll bullish on palin to palantir and nvidia. product from i've aye a narrative. it's a let's hope this happens. everything's now son margins. apple's doing cool stuff with i phone gadgets, or you've got notetakers, but really, i don't think we will

it was at goldman sachs, i understood how humbling it could be., when one of your cds went against you, you had to get on the horn and explain either why the person should buy more or why they should cut their losses. i also learned to let your gauge run while you cut those losses. i learned the hard way, many of my clients were perfect business people who didn't know that much about stocks. they just have been fabulous at running their own enterprises, a real cantankerous client, who i worked hard to get, trying to win them over for ages. i told them i'd be judicious, work hard and get it right for them. he didn't want trades, he wanted long-term investments, at the time, i happened to like the stock of kimberly clark. i told them this woman would be a terrific addition to this portfolio. i bought 1,000 shares. the stock went up 8 points, i had a winner. i called and said i want to sell the 1,000 shares to kimberly clark. i thought he would thank me. he was furious. he told me that i had said kimberly would be a good long-term position that it co

if you had a scenario of a hung parliament according to goldman sachs, this would go up to 116%.f you had the far right coming into power, this would come up 120%. what we expect is this continues and we should see the spread continue and the volatility in the stocks continue and we don't have a clear picture of what the election means in three weeks. >> charlotte, what an interesting picture you painted for us. thank you. let's unpack it more with ben who is the model of portfolio services at invesco. ben, you are not worried by that. you perhaps think it is a little oversold and there will be a recovery in the local stocks, so to speak. >> always a touch of anxiety of investment views. on balance, we have seen this movie before. markets do tend to overreact to political events. on balance, with some conviction, i think that's what's happened this time. markets are fretting and concerned about populous f fahrfar right majority low. on balance, it looks like a reasonable short-time possibility. >> you don't neces't know when will get done. let's call it extremist with the macron

first up, let's welcome goldman sachs, down nearly 2% today. nd other financial stocks lower. your trade here on goldman sachs, sir? >> we like goldman sachs. we've liked it for a long time. it's the top-tier investment bank. it has been for decades. it's got tremendous cash flow. it's still cheap. and we think moving on from marcus is a bullish sign. look, they tried the retail product. it didn't work. goldman is -- it's a premiere brand. i don't think it was ever really a good fit for retail, so i think it's a positive that they've put that in the rearview mirror. and we think it will continue to make a lot of money, of all the wall street firms, if you asked me which one will be the last one standing, it's goldman sachs. generally, the investment banking business has been in a longer term decline but goldman is the best of breed, and the stock is still relatively cheap. >> that's a ringing endorsement. we'll move along to general motors. the board just approved a $6 billion buyback. the stock is rising to a 52-week high. you like it? >> i do.

>> they are the goldman sachs, fidelity, vanguard, some of the biggest organizations that have donor ect money from donors with the goldman situation, it's goldman employees. and they have final say at goldman around where the money goes. so while goldman sachs is making these statements about diversity, taking out ads, making claims about their support for black americans, they're then going and giving money to the people that are trying to make those very donations illegal. it's the kind of ultimate trick bag. it's almost like they feel like they're forced into doing something good, forced into supporting diversity because they may not actually believe in it, and then with the other hand, they're giving money to these folks who want to make it illegal. so eventually when it's possibly illegal, they can say, well, we can't do it anymore. we can't give the money. and they can go back to having c-suites that are basically all white. they can go back to having corporate practices and structures that don't actually move resources to communities. and all of the sort of diversity was, you

ubs and goldman sachs bumped up their targets.li writes what he is calling the unloved market rally on cnbc pro. he looks at why so many investors find it hard to embrace the record run. we will talk more about that later on in this hour. >>> first, we keep a close eye on the treasuries and the yield. down 4% in the past few weeks with the spring housing market in full swing. despite being down 2% in the past month, the average rate for the 30-year fixed mortgage still stands at 7%. that is a set up for the busy week for the housing market and earnings report later in the week. including existing home sales. joining me on this is john lovello with ubs. also with me is bess freeman. john, i'll start with you since you're here in studio. >> sure. >> two big reports. one from kb home. ahead of the reports, you say it is a buying opportunity. wh why? >> we think so. first, thanks for having me. inventory has ticked up a bit. context is important here. 1.5 million single family homes in the market today. that is up 15% year over year.

global head of private equity at goldman sachs alternatives. back to you.ets today. kriti gupta on the ground in berlin with that exclusive interview from super return. we will head back to berlin where she will speak to the senior managing director at vista equity partners. a firm with $100 billion of assets under management. that exclusive interview is next. this is bloomberg. ♪ tom: it is the world's largest private equity event and it's in full swing. kriti group is on the ground for us at super return with another fantastic guest. kriti: one of the bait conversations in the market, you are no stranger to this, is what's going on in the big tech space. we talk about this all the time in the public markets, nvidia, salesforce. when the party keeps going, what makes a crack? they see the concerns in the public market, does it then dragged down the rest of the market. that's from the heavy hitters. it does have a translation into how investors around the world, even in the private markets are looking at that software enterprise story, looking at the ai sto

matt: what is your take on the goldman sachs call?he note on the labor market being at an inflection point. we saw nonfarm payrolls booming higher, 273,000 jobs added. the household survey showed we lost 400,000 jobs. ann: -- enda: a lot of different views on what the surveys mean and what they are telling us. a lot of confusion over the role of immigration in the economy. is it counted are not? the jobs market remains cooling around the margins. they make the point that is easier to maybe hold onto staff then find staff than it was last year. none of that means we are heading towards a hard landing. it does add to the economy slowing. the idea we are at the inflection point probably sounds quite fair. that's why i say about retail sales the data will be so important in terms of setting the tone for the economy and with that means for the all-important fed debate. it sounds about right. matt: thank you very much. enda curran talking about the retail sales data and the goldman sachs call. let's turn to the market reaction. joining us n

now the vice chairman at goldman sachs. look forward to that.et's show you the score card with 60 minutes to go in regulation in this first trading session of june, dow is off a low, still a weekday, was down more than 400. still down two thirds of 1%. the nasdaq trying to get something going as the last hour begins. got work to do as you see. weaker economic data today sending both stocks and yields lower. that's a big part of the story most sectors remaining in the red, that's trying to turn a little bit. i see three on my screen that are now green. we'll track it. financials, industrials, materials among the biggest losers today. so watch that as well. the outlier, what else, nvidia, it's higher again. and that's along with apple and meta, as you see. meta having a nice day, up to 2%. the road ahead for your money, stock start june with good amount of red on the board today. let's welcome in chief market strategist for jp morgan asset management and christina hooper, both you see here joining me at post nine. nice to see both of you. new mont

clients include goldman sachs, starbucks and general mills.michelle davis, senior correspondent at bloomberg deals. we are joined by both of you at a time when deals are finally coming back. before we get to the limitations because there are some, talk to us about what you are seeing in conversations with your clients. jim: mna, we think the stars are aligning for it to be a busy year the second half of the year and beyond. confidence is returning to boardrooms, to siu suites. -- to see suites. companies are willing to make bold bets on mna. the private agree market has not been as active but we feel that is going to be unlocked so we get greater certainty on interest rates and private equity holds additional levers to achieve exits. michelle: there is an election coming up this year as you may have heard and i know you are expecting a pickup in activity. i'm curious what your advice is to clients who are worried about their deal getting caught up in the rhetoric. is there advice around avoiding deals that might be too controversial or high-pr

she earned a bachelor of science degree in applied mathematics and got a job at goldman sachs. she would go on and get a master's at stanford graduate school of business. in 2011, kujan's was born. ecuador has a beautiful heritage, which is the craft of making straw hats, of hand weaving. those straw hats with the heritage in mind, gajardo wanted the company's first product to be the straw hats. there was a problem. those hats were being sold in the us under the name of panama hat, and the most painful decision i had to make at the beginning of cuyana was to actually name those panama hats, not because i was in agreement with that name, but rather because i was starting an online business and people are searching for panama hats. the panama hat is actually made in ecuador. the official spanish name is. it's a long one. it's sombrero de paja tokija. cuyana is now on a mission to change that name to the ecuador hat, that are the ones to bring more education on to this complex craft from her home country. it starts with the raw material that only grows in very specific areas of so

tom: when it comes to the data question, it was interesting to hear from goldman sachs. in terms of the health of the consumer, we will get a gauge later today with retail sales coming through. what will you be passing when it comes to that data set? >> it is about the consumer. how the consumer is holding up. we are seeing cracks in the labor market. do they start resonating within the consumer? but if we see it is holding up relatively well. it will be hard for the fed to decide on moving away from a more hawkish bias. we will continue to have that data dependency. we saw coming into this year that inflation was on course and was softening. and we had a hiccup in q1. there is no chance of taking risk that they want to see that the recent data hasn't given them. same thing with retail sales and with the labor market data as well. tom: can we crystallize the trend? thank you very much. from the mliv team. and what to watch. more commentary from fed officials throughout this week. eu leaders have postponed a deal on how to divide the block stock jobs opening the door to f

we've seen goldman-sachs price action so far this year, up around 15%. it's pulled back in recent weeks, but i think there's opportunities there as we think about the capital markets and all the numbers that we've seen, and i think ib has bottomed absolutely, and i think we'll see a nice runway as we go to 2025. health care, typically in election years, doesn't return very well, but i look at med surge as an opportunity. there's been a lot of discussion on glp-1s and what's going on with eli lilly and novartis. i look at strike company, intuit surgical, i think there's opportunities for these names to continue strength and see earnings power head. those are a few of the opportunities that i see going forward. >> jordan, i wonder if there's one thing that stands out to you that's causing you any kind of nagging concern about the macrooutlook and whether, in fact, this sort of patient fed, keeping rates here fsor a full year, and you have a little bit of deceleration in parts of the economy that has investors' attention, whether any of that could break the

this follows a similar move by rival bank goldman sachs, and could see their bankers earning up to 10e salary. jp morgan defended the move saying in a statement that they have developed one of the most attractive and balanced pay structures in the industry. the uk government scrapped the cap on bankers�* bonuses in october last year. sticking with the uk. the latest inflation print for may saw prices falling to the bank of england's target rate of 2% for the first time in nearly three years. the economy and the cost of living have been one of the key issues in the run up to the uk election, to be held on ajuly. inflation in britain hit a peak of 11.1% in october 2022, its highest level in more than a0 years. despite that, the bank of england is due keep the cost of borrowing steady at 5.25% at thursday's policy meeting. turning to th us — american businesses and consumers started the year hoping the federal reserve would start cutting interest rates this summer. but last week's strong jobs report and still—high inflation means america's central bank is likely to leave rates unchanged,

goldman sachs upgraded toll brothers to neutral.and outperformance in new home sales. next up, bank of america raising its price target for micron. the firm expecting the chipmaker to benefit from increased requirements to support artificial intelligence and personal computers and smartphones. best buy was upgraded with the new price target. analyst expecting electronics cycle help by innovations in ai. sam stovall is also looking closer at the tech trade saying this -- sam joins us now and i have to say, this is the quote of the morning to me given the fact that this is the ultimate existential question. is this u.s. stock market incredibly vulnerably because of the dominance of the big tech names or is it incredibly resilient because of them. what do you think? >> good morning, i think it is resilient however, i believe we are headed for a second decline it this year. based on my historical work, everyone of those top 15 first quarters ended up with a gain for the entire year even though many of them went through declines of 5% or

goldman sachs prime brokerage where they analyze data they're coming into the second quarter inserteding their exposure to these big technology stocks. they were looking at different types of ai plays like utilities so we've seen that particular group since mid april really take off and some of that people think of it as low volatility dividend tight paying stocks. this seems to be more of a peak in rates. but also a little bit of that ai play. if you're looking at nvidia coming into today it was only 5% away from trying to catch up to apples market cap there. apple is not too far away from 3 trillion again so if it crosses that for the first time since january. >> sticking on the apple theme there was reporting of other outlets such as the information talking about how maybe we could have seen a deal for offering apple tv+ to china of all places and just mentioning this perhaps the easing of tensions of people trying to understand how the china u.s. relationship impact apple. what are you expecting to hear in the future? >> as farce china is concerned, of the tv on the other things i

. >> people have to understand goldman sachs. let's bring that into play.e afraid to hold prices back because that might hold them down in a different department. from the old days. is it possible that if you don't rollback, you get left behind? >> yeah, absolutely. as you know, we have a partnership with goldman. they have been terrific about bringing that customer dimension into their leading research franchise and really leaning into that and we have a thesis, jim, which i know you support that the future of how companies are evaluated isn't going to just be about short- term earnings what are you winning with the customer and is it durable? >> yes. i will give you one last one. there is desperation going on today. there are people literally trying to catch a falling knife. to me, they are butcher blocks but maybe they're smarter than i am. nike. this is a brand -- let's forget the stock for a second. this is a pristine brand. we all know nike is the best but their stock is the worst. is there any hope for the stock of nike? >> we are not stock pickers.

goldman sachs and others are concerned if we saw barrels coming back and the market doesn't balance outthat means we could see downside pressure. opec is not concerned about this. it is sticking to what it knows best which is the management of the oil market and dismissing the bear ish comments. what is also interesting is the market reaction. crude is swinging off the back of the decision which would suggest the market is still trying to interpret what it means. in terms of the other big headlines, it was a big win for the uae which won a quarter increase. it will trointroduce more opec . it will meet once every six months instead of once every month. it should hopefully help to provide the market with more clarity on exactly what the output levels look like moving forward. the messaging from the group is they are not concerned with the bearish views off the back of the decision. >> dan, thank you so much for that and sharing the developments in the oil space. >>> coming up on the show, we will have election updates from around the world as results trickle in from india and south afric

i'm joined by mark, who runs asset and wealth management for goldman sachs.ou here at super return. we should kick off with private credit that's a focus of the for direct contact. -- why is this a marriage that makes sense? >> sure. thanks for having me. so private credit is one of our big asset classes in alternatives. we think we have a lot of expertise in the business we started the business back in '96, it was our first mezzanine fund. we're now on five. we launched our direct lending platform that's the platform we just raised $21 billion for. so we have a unique business. not only are we veterans in the business of having done this for so long but we also have a way of combining what we do on the investment banking side with leverage finance with our private capital business. so we tend to go to clients with both options and say here's what the market looks like, private credit looks like and shows people the pros and cons of the two and clients can differentiate what fits most so we can offer both solutions to clients. from an investing perspective we

stuart: quickly on goldman sachs, are they going to lend more money to the wealthy client. >> reutersand they will double their lending in the next five years to wealthy customers, those with assets of $10 million or more in people with luxury homes in sports teams and yachts, they are pivoting back completely to the rich, remember the consumer business they pulled out of that that did not work another going after the rich. stuart: that make sense the rich has the money. >> probably a lot of choice and lenders be back these are high-quality borrowers, clients of goldman sachs, of course recheck about 800 fico scores in the above, these are very good credits you want to loan money to people like that, i should probably look at goldman as a potential addition to the american ingenuity portfolio. stuart: the news is in. >> it is boring but good. check the big board we are five minutes into the session down 150 for the dow industrial, 38500, the dow winners headed by 3m, nike, apple is a winner at 214 this morning, that is coming in strong, home depot 345 j.p. morgan 192, s&p 500 winners,

goldman sachs analysts now expect the pboc to cut rates twice in the second half of the year sam vadasiled this report. >> reporter: it was a busy start to the trading week in china aside from panda diplomacy down under, they had numbers to digest the numbers were downbeat in the property stector with new home prices falling at the fastest pace in ten years. despite a wave of policy support. industrial output missed in may. fixed asset investment surprised to the downside as the property secreta sector continues to drag analysts say it may not be as good as it looks the data captures the may labor day holiday which may cause distortion in the headline we know spending per head is a worry. the pboc made no change to the rate this morning. the fixing is typically seen as a guide for the lpr fixing on thursday they don't always move in tandem economists are not ruling out a change or cut to the five-year which influences the price of mortgages. the rate decision came after credit data showed new bank lending in may, but respecting the slushish demand. in singapore, sam vadas, cnbc busines

let's get more on markets now with the apac equity strategist at goldman sachs. i want to start off with the mliv point -- mliv pulse survey. i'm wondering if you are among those who feel the fed is not quite as important and catalyst these days as it used to be. are you looking at markets and thinking more in terms of fundamentals, earnings, outlooks, dividends, the ai theme? >> the fundamentals obviously do matter. we do think the asian markets in general should be higher over the course of the year. we think valuations will appear, so we are more upside equities. having said that, i do think the fed is important. the fact that we got softer than expected cpi's and core month on month is encouraging. our view is that we will continue to receive better inflation is in the coming months, which still makes it reasonable for the fed to cut in september, so it still is keeping two rate cuts as a base case for us, but obviously, these cuts we think are still optional, but we think it will continue to trend down, so that could be important as well. paul: let me put a

goldman-sachs saying a.i.ontinues to fuel the boom. >>> and shares of autodesk rallying on news that activist fund starboard value has taken a $500 million stake in the company. we've got a lot of color on that one. >>> let's begin with the markets as we kick off this holiday-shortened week. of course, the news over the weekend, goldman, upping their year-end target and evercore isi at a time where we were getting a little antsy about narrowing breadth. >> i think we're still antsy about it, but what's interesting is the targets are all the market cap weighted s&p 500, and we were in a position which was somewhat interesting which is, even the most bullish street target was not particularly bullish in the grand scheme of things and in fact, going into the weekend, the average and median sell-side target for the s&p was below where the index itself was, so that creates this sort of catalyst for somebody on the sell-side to say, do i want to, you know, essentially capitulate a little bit or acknowledge the under

| eu, an analysis by goldman sachs found _ eu, an analysis by goldman sachs found brexit — eu,rowing 5% less since the _ for the uk economy growing 5% less since the vote — for the uk economy growing 5% less since the vote in— for the uk economy growing 5% less since the vote in 2016. _ for the uk economy growing 5% less since the vote in 2016. find - for the uk economy growing 5% less since the vote in 2016.— since the vote in 2016. and what ha--ened since the vote in 2016. and what happened with — happened with the pandemic and the war in ukraine makes it difficult to pull out _ war in ukraine makes it difficult to pull out strong conclusions and economists argue about the effect. but they— economists argue about the effect. but they are located that it is not being mentioned, what would you like to hear a saying, brian? being mentioned, what would you like to heara saying, brian? or being mentioned, what would you like to hear a saying, brian? or in brexit. we talk about lack of cash and money, — we talk about lack of cash and money, i_ we talk about lack of cash and money, i

here is goldman sachs partner liz ♪ ♪ >>> i'm extremely lucky that being at goldman sachs was a placeg out, but i'm also aware that i have colleagues in the industry that don't know if they have that safe space or they may not at all, and so when you celebrate pride month and when you are a consistent ally throughout the year you are letting the people around you know that your space is a safe space for them to be out. [crowd chanting] they ignored your potential, and mocked your ambition. but it's not the critic who counts. with every swing and block, your game plan never changed. ♪♪ some still call it luck. let them. because you know what it's always been. inevitable. ♪♪ ♪♪ ♪ ♪ >>> we stand with ukraine. we will ensure that ukraine has what it needs to free kyiv from russian occupation which has lasted for ten years. >> that was not president biden speaking about the russia-ukraine war. it was a deep fake that was circulating back in march and it could be just one of many more as we are less than five month away from the presidential election. states for their part have been trying

demand attend for one stock split and let's show you aaa again top idea at goldman sachs 33700 pricebut is not taken effect yet, that will be the end of the month that goes 50 - 1 which is tremendous. thank you good stuff indeed protesters stormed the field of the annual congressional baseball game, was anybody arrested? >> they were, eight people were eventually arrested the climate protesters decided a congressional charity baseball game last night at the nationals park was the perfect time to make a statement, take a listen. >> usa, usa, usa, usa, usa, usa, usa, usa, usa. >> that's the response that they got the crowd turning on them booing, chanting usa. the demonstrators themselves were chanting and held signs that had sure says that in fossil fuels and stop playing game with her future a group known as climate defiance took credit for all of this and then they put a tweet on x that read update, eight of us have been arrested for shutting a congressional baseball game they are behind bars now, make no mistake it is the members of congress who should be locked up, the congression

one of them was goldman sachs. the others that chose to play cautiously and carefully did not end up looking good. sonali: how does that look? goldman saved money but on the other hand they got out first to the expense of others? what is the reputational fallout after? are they better off or worse off? >> do you think that if you go to a senior goldman executive, are they worried about the reputation of being hard-edged and hard-nosed about the process? or are they bragging about the fact that they didn't lose any money? and does credit suisse get any credit for saying let's do this slowly and in a calculated manner without spooking the markets? they are not around to tell you the tale. that tells you how goldman will do it again. sonali: why wasn't a regulator called at the beginning? >> the fact that it was happening on the spot live -- sonali: 72 hours, shouldn't they regulator have been called? x they were going to the biggest banks saying that they were trying to meet market -- margin calls elsewhere, give us c

notable among the blue chips is ibm, one of the leaders on the dow gaining 1.8%, goldman sachs initiating coverage with a buy rating and a $200 price target saying ibm has modernized its services and its a.i. offerings are starting to pay dividends. ibm at 175 and change. investors are loving the headlines coming out out of chevron, the stock is up two and one-third percent after the second quarter buybacks in the 2.5 to $3 billion range and walmart. walmart is sprinting to an all- time high on news its expanding its push into health and wellness by offering free hi v screenings to wall walmart pharmacies in colorado and virginia. bell billionaire entrepreneur knows all of walmart two years after he founded jet.com abdomen sold it to walmart for $3.3 billion. then after leading walmart's e-commerce division to stellar sales now he's cooking up a new super app called ander wonder. he's here in a fox business exclusive you get to see for yourself live from mark laurie. in the meantime we've got the nasdaq in the red although earlier the nasdaq had been up about 40 points and now it is down

goldman sachs now saying electricity demand will grow by 160% by 2030. how to meet that need?l the department of energy is turning to mothballed nuclear plants. we're about to take you live on a tour of one that's about to flip back on the lights. you've gotta stay with us to see it, next. you know, so much chatter about data center, reit, real estate investment trust being a hot investment. year-to-date, slumping more than 5% but iron mountain on the other hand has spiked 27% while digital realty is looking at an 11% gain. we are coming right back. (♪) (♪) what took you so long? i'm sorry, there was a long line at the thai place. you get the sauce i like? of course! you're the man! i wish. the future isn't scary. not investing in it is. nasdaq-100 innovators. one etf. before investing, carefully read and consider fund investment objectives, risks, charges, expenses and more in prospectus at invesco.com investment opportunities are everywhere you turn. but at t. rowe price, we're letting curiosity light the way. asking smart questions about opportunities like advances in healt

cameron, tony pascarella of goldman-sachs, "i would not be looking to stand in the way of this freightrain, one that is fundamentally rooted in totally superior earnings growth." is that enough reason to keep buying these stocks? >> i think it is at least through the third quarter of 2024, and the real test will come in 2025 when the second derivative or the pace of change in that earnings growth really starts to slow. you have earnings growth at the pace of things like 120% for nvidia this year. that's set to go to 50% next year. amazon goes from 80% down to 30%. you'll have a test to see if that's enough in 2025. those are still great numbers. but they are significantly slower than what we got in '23 and '24, so for now, it's still good. a lot of the valuations aren't quite as stretched, but a name like apple, i think, is important to watch. its earnings estimates have gone nowhere this year. they have been flat. it's all been valuation multiple expansion and contraction that are driving the volatility in the stock. we think for apple to work, you really have to see earnings start to

goldman sachs and jpmorgan declined to comment, haven't heard back from b of a yet.hortcomings are expected to be addressed in the next plans due july, 2025. >> did you say earlier today that the stress tests are the results are next week? >> yes. >> more important i think we can say to stock direction -- >> absolutely more important. because these are what determines how the banks perform in an adverse economic scenario. and so based on those results which we see every year, they get a certain stress capital buffer, which is a number by the regulators which determines how much they can if they so choose return capital to shareholders. and that is much more indicative of the stock price than these shortcomings. >> leslie picker, have a good weekend. mike, you have the two-minute warning. you hear the sound effect. triple witching. we were looking for more volatility. not so much as we head toward the close. it's on the other side of this that some people -- >> sometimes the market starts to move a little more freely. i do think what you're still seeing even though's

david solomon, the ceo of goldman sachs, at the conference and i asked him when it comes to consumerow he perceives it right now and what's happening with the overall economy. listen to what he said. >> on the last panel sounds like when it comes to travel demand, it's normalizing. it's not booming like we saw necessarily last year, but it still looks pretty strong. how do you think about what the consumer looks like in the u.s.? >> yeah. i listen very carefully to what they had to say because they're, obviously, a small data point into consumer behavior. >> strong part of the economy right now. >> and a strong part of the economy right now. i would step back at just a very high level, i think over the last six months particularly in the past few months, we've seen and you can see it in the quarterly earnings from a variety of companies, shifts in consumer behavior to me indicate the consumers are taking a little bit more cautious approach to have their allocated dollars. i think the reason for it is very, very clear. we talk about inflation, we talk about inflation coming down, but

petersburg economic forum that the major western media at goldman sachs were too pessimistic about the haytham al-ghais once again... tried to convey to the market that a sharp increase in production is not at all guaranteed. russia became the second largest supplier of liquefied natural gas to spain. over the first 5 months of this year, the market share was increased and exceeded 22%. the usa, with nineteen of them, had to move to third place. algeria is in first place and still accounts for more than a third of the spanish lng market. the data is provided by a local energy company. dynamics of growth in supplies from russia. it can be seen: last year the market share was increased by a third to 18%, and this was third in the ranking. similar dynamics are observed in france. not it’s surprising that brussels is thinking about limiting the supply of russian lng; they are buying too well. the european union is trying to agree on extending gas transit through ukraine, according to bloomberg sources, brussels and kiev are discussing maintaining pipeline gas supplies in 2025. formally, th

goldman sachs, i think, the outside of their range, 6300, if everything lines up.y talked about all this money coming into the market in july, so -- the momentum is clearly there, but in my -- just again, my opinion, the concerns that i've had for awhile have not abated. they clearly have not manifested themselves in the market, but i think if this is the time of year where people who are behind the eight-ball are starting to play catchup. >> i think you're beginning to see that catchup. let's remember, the average target on the street, i think there's 28 strategists who submit their targets, is still 5350, s&p trades above it. we've done a lot of work looking at what, what do the forward market returns look like, when the s&p is still above that average target? they tend to be quite good. you want to get uncomfortable when the average target begins to surpass and leapfrog, what's one of those features of the end of a market cycle? you have the sell side tripping over each other to put the highest target on the street. i think we're shy of that just yet. >> let me

what is the difference between the likes of jp morgan, bank of america, goldman sachs and how they are being treated relative to citigroup right now? >> citigroup today the ftse said citigroup had a deficiency in its plans, essentially one rank lower than what they identified in the other slightly problematic banks. on the other hand the fed said they only identify a shortcoming with citigroup because the two regulators do not really agree citigroup is deficient. they kind of escaped the lowest penalty. the worst penalty for these banks right now. as you say, citigroup is a bank that has had a lot of regulatory overhang. it has consent orders and issues with technology and data it has been trying to improve for years. it has been a very costly weight on the bank. earlier this week when the wall street journal first started reporting inklings of the ruling coming it overshadowed one of citigroup's biggest initiatives this week. it is a reminder to investors that just as a citigroup is trying to really push its transformation plan, there are is still a lot of whites hanging over the bank

petersburg economic forum, even complained that the major western media at goldman sachs were too pessimisticut the latest statements. haitham al-ghais once again tried to convey to the market that a sharp increase in production is not at all guaranteed. russia has become the second largest supplier of liquefied natural gas to spain. usa with 19 of them had to move to third place. algeria is in first place and still accounts for more than a third of the spanish lng market. the data is provided by the local energy company. the dynamics of growth in supplies from russia is obvious. last year, the market share was increased by a third to 18%. and this was the third line of the rating. similar dynamics are observed in france. not surprising. that brussels is thinking about limiting the supply of russian lng, they are buying it too well. the european union is trying to negotiate an extension gas transit through ukraine, according to bloomberg sources, brussels and kiev are discussing maintaining pipeline gas supplies in 2020. formally, the gas should not be russian, since european officials do not

petersburg economic forum that the western media were too pessimistic in their assessment of goldman sachsain tried to convey to the market that a sharp increase in production is not at all guaranteed. russia has become the second largest supplier of liquefied natural gas to spain. over the 5 months of this year, the market share was increased, it exceeded 22%. in the usa with they had to move to third place. in first place is algeria, which still accounts for more than a third of the spanish lng market. the data is provided by a local energy company. rates on the part of russia are obvious: last year the market share was increased by a third to 18%, and this was the third line of the rating. similar dynamics are observed in france. it is not surprising that brussels is considering limiting russian lng supplies. they buy it too well. the european union is trying to agree on an extension of gas transit through ukraine, according to sources bloomberg, brussels and kiev are discussing maintaining pipeline gas supplies in 2025. formally, the gas should not be russian, since european officials

let's talk about this goldman sachs asset munition report that you been focused on showing targets forow much you need to save in retirement. nobody is hitting it or most people aren't hitting the number but at the same time is most pessimistic. jan z is on a good start investing for retirement and median of 29000 in the retirement account, that is good and part of that is benefiting from relatively new features like auto enrollment which is really grown over the past 15 years to get automatically plunked into the 401k and you have to opt out. the report looked at competing pressures that people are faci facing. jack: taking care of your parents, taking care of college, millennial's are getting hit with the cost. >> millennial's are getting slammed it is good to be jan the next. jack: of course you have not quite a silver bullet but a bit of a solution to help retirem retirement, you wrote a column about the roth 401k which is been good and it got better. >> starting this year no required minimum distribution requirements for your 401k, you can let that money compound and grow througho

this is jpmorgan, bank of america, goldman sachs, and citigroup, all found with shortcomings by regulatorsst days ahead of a federal reserve stress test. stick with us. this is "bloomberg real yield" on -- this is "real yield" on bloomberg. ♪ sonali: i'm sonali basak. this is "bloomberg real yield." time now for the auction block. issuance all around saw strong demand. we start with treasuries, focusing on the 20 year reopening sale, which saw the primary dealer rewarded the lowest on record since the tenor -- tenner was introduced in 2020. home depot sold $10 billion. the deal saw as many as $47 billion in orders. in high yields, hertz works to restore its balance sheet with a $1 billion capital raise as part of a price offering. when it comes to credit, kkr's cris sheldon spoke to us earlier this week discussing the potential of a wave of defaults. >> we do envision increased defaults, increased downgrade spirit however, it is not armageddon terms of a big spike. not seeing dramatic for selling. i would say, when things are going into a default or things are really dire, you see more for

a finales del 2024, los analistas financieros de goldman sachs dicen que brent, el índice mundial subirálla este fin de semana, recaudando 56 millones de dólares. en su estreno, la película superó las expectativas, lo cual es una buena noticia para hollywood. después de decepciones como furiosa y garfield, otra prueba para la industria vendrá el próximo fin de semana con el lanzamiento de inside out 2. yo soy silvana henao y ese es su informe cnbc para. telemundo. este domingo, people's park de san josé se vistió de gala para recibir el duelo más apasionante del fútbol mexicano américa ante chivas. pero no el de los planteles actuales, 1 muy especial donde están las leyendas de ambos clubes. y claro que la afición del área de la bahía disfrutó a todo dar de este clásico. américa ahí está señores. Águila de nacimiento, miren así hay que inculcarlos al deporte y como podrás ver, estamos apoyando a los equipos mexicanos. no importa si eres américa, chivas, somos mexicanos y hay que apoyar a la banda. pues es que cuando lo conocí no me dijo que era del américa y me enamoró y luego me quedé c

jan cermak, a former goldman sachs trader who heads the company behind the campaign, says california forever would be a green city for 400,000 people. it is planned for land that is currently farmland between travis air force base and rio vista. it is a planned development of homes, green space, a walkable downtown and jobs. the campaign submitted more than 20,000 signatures and tonight we learned the group exceeded the threshold by more than 100% of the signatures that it needed to gather. the registrar of voters office will now send the results of its random sample to the county board of supervisors, then, the board is expected to order an impact report before before it goes on the ballot. our jodi hernandez has been following the latest developments and she will bring us a live report coming up at 6:00. ramifications. there could be huge. we'll be watching that all right. the south bay is preparing for a very public party this weekend. we're talking about a rave similar to the one that happened in san francisco recently. and that one triggered some pretty big complaints, raising q

it is said that people thought morgan stanley and goldman sachs and everyone else was going to go under. were you living through that and did you think morgan stanley would make it at that time? ruth: there were days i did not. it was bad. so i was running financial institutions banking at the time. the most meaningful part of my career was when hank called and said, i need advice, i need some bankers here. so i led a team that worked on fannie freddie and then aig, those were very, very challenging days. and coming out of it, we did fannie freddie and then we did aig, put them into conservatorship. when i got to morgan stanley, john mack was ceo at the time. he said, you are in charge of liquidity. figure out liquidity. and, of course, days before what very much was running out of liquidity, there was no way to get liquidity. in fact, one day we were trying to figure out what to do, i was on the trading floor and i thought, can we maybe sell the chairs? i thought it might be a solution. it supposed to be funny, but it was really scary at the time. it was hard. but we did this whole ser

it follows a similar move by rival goldman sachs which could see their bankers earning up to 10 timesove, saying it's developed one of the most attractive and balanced pay structures in the industry. the uk government scrapped the cap on bankers' bonuses in october last year. the families of victims in two boeing 737 max plane crashes have asked for prosecutions and a fine of $24.8 billion for what they call "the deadliest corporate crime in us history". in a 32—page letter seen by the bbc, the families' lawyer paul cassell said that the us government should prosecute those leading the company when 346 people were killed in two crashes in 2018 and 2019. when we come back: are they still a girl's best friend? why diamonds are losing their lustre. around the world and across the uk. this is bbc news. with global markets back in their growth groove, stock market flotations are back in fashion. australia has just today seen its biggest ipo in more than a decade and it's quite spicy. the fast—growing mexican restaurant franchise guzman y gomez has made its public debut on the australian st