is with j.p. morgan asset management. how much of this is china and how much of this is the fed?a lot is china. visiting chinese made evaluation. made in china is the phrase of the week. it is going to be about china for a long time. people are still going to be waiting to see what happens from .he pboc, with commodity prices on top of that, they're waiting to see what the fed might do. aad: this is probably delayed the fed move. 60% thatmething like they would move ahead by december. it may have even gone down to fewer odds. is a difference between what the fed wants to do and what the fed will ultimately do. they want to raise rates. they know their economy is getting stronger. the housing market is improving. that willi do know come eventually is a recession and any higher rates when that does happen. what the fed is also doing now, which they shouldn't, is paying attention to markets. they need to focus on the economy and not the market. unfortunately, because of how much is inlved, the two are becoming a little more intertwined. you think at some point, if funds start buying

does and trust me j.p. morgan has the scale.pital, we better protect our community banks from going out of business. >> thank you, governor. ladies and gentlemen, governor jeb bush and he'll be live. ♪ ♪ >> ladies and gentlemen, just as he begins to work the rope line, lunch will start at 12:30 instead of 12:00. work shops will go from 11:00 to 12:15. please note the change. ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ >>> here's a look at what's ahead in congress. the u.s. house continues its august district work period. the chamber will have pro forma sessions every three days, legislative work resumes september 8th. the senate's back to work today at 2:00 p.m. eastern. we expect work on a bill to defund planned parenthood. live coverage of the house on c-span and the senate's on c-span2. >>> the republican presidential candidates are in manchester new hampshire for the first presidential forum today at 7:00 p.m. eastern and c-span's road to the white house is providing li

. >> it got sa great upgrade today by j.p. morgan. because of the jamup, they thought it was too cheap. i got to do more work tan give you that. let me come back on puma. let's go to jerry in new jersey. jerry. >> jim your stars, buy, hold or sell? >> i got to say hold. i did not like that last quarter, versus tj ulta. steve in florida. steve. >> caller: hey, i know, i want to ask you about mankind, i know it's down 50% the last few months. >> well, steve, i got to tell you, mannkind, we see a big sales bump. i think there will be time. with ehaven't seen it yet. let's go to john in texas. john! >> caller: good afternoon! how about vora na do? >> i think those guys are very, very smart. i like them. and three investment trusts i like. mike in california. mike, mike, mike! >> caller: yeah to kramer from the once great golden state, is it time to jump on lima, lima? >> i understand the desire. they have that compliance officer, that i can turn around, housing is getting better. >> that one is too deep in the woods for me. i'm a hope dep

joining us now is the global market strategist at j.p. morgan asset management.hone ringing off the hook? >> there has been a fair bit of interest. this is not something that is unusual. when we wereto talking about moving towards great heights, it was always about increased volatility. a pullback was likely. we see a pullback. what has driven that has been a little bit different. it has been about concerns with chinese growth, the pboc's reaction, and how that has been interpreted. increased volatility getting back towards more normal levels. that is explaining some of the psychological effects of what is driving the market. we have been a new normal for the past few years. end of the day, are we seeing a correction that will lead to a bear market? this is still summer. october is just around the corner. that is what everyone is fearful of massive correction. if we look at developed market equities, this is a correction, not something unusual. 2014, october, we saw a correction. we say the same pattern -- same pattern we see play out year after year. in the u.s.

chase and company requiring j.p. morganhase company to pay approximately $12,000 plus to the successor agency based on it's prorate share of damages the resolution number has been changed from 102013 to 4892015. >> through the chair we need to clear the room for closed session and switch the tapes and the members of the public have le left. >> okay. it is 317 we're back on this record the commission has been advised by the council on 10 a we have a resolution 48 dash 2015 i need a motion for approval it has been there is a motion and a second commissioner please announce our vote when i call your name commissioner mondejar commissioner singh commissioner bustos madam chair rosales okay i have madam chair the vote is 4 i's. >> okay. the supplement is approved thank you. can you, please call the next item. >> the the next order of business is item 11 adjournment. >> madam chair. >> yes. as 318 the meeting is adjourned thank you. >> today is tuesday, july 28, 2015, time is 508 first item is roll call. >> commissioner arce

j.p. morgan analyst saying maybe this is in such a negative because it might delay the rate rises have been talking about. the let's focus back on the asian markets. you're standing by and hong kong give us a sense of outside of what is happening in china land, what has been flowing through the rest of asian trading. >> we're certainly seeing most of the markets here in asia in the red. they were doing a little bit better before thailand came online. we have got the shanghai composite down by 2.1% at the moment so a much more significant drop in what we had seen earlier in the session. the hang seng index was actually in positive territory. up thosen it come pick h shares that investors had bailed out of. you mentioned the route and emerging-market currencies certainly sing that in none other than malaysia as well. it is coming back a little bit today up by 0.6 of 1% with india coming online in the last hour and a half. jakarta is down by about 1% it is another currency under pressure at its lowe

in the aftermath, j.p. morgan chase is expected to double its budget for cybersecurity efforts this year. but the case with j.p. morgan is not unique nor a simple cautionary tale for other major companies. in the last few months we've seen one of the largest cyber attacks on our nation's technology infrastructure and other major cyber breaches affecting our financial and transportation sector. and i share these comments in the context of having worked as an executive for a cloud computing company for 12 years prior to serving in the u.s. senate. in the midst of these attacks, we see radical islamist terrorists infiltrating america's social media networks to recriewt americans to join them as jihadists overseas. we must work to address these challenges and our response must be thoughtful to the long-term effects on our national security and our constitutional freedoms. as we're seeing with the european union, after years of debate, the e.u. is currently working on policies to ensure their citizens are notified of c

he worked for j.p. morgan chase and accused of leaking inside information on deals to two friends. the justice department said the group made $600,000 from the illegal trades. >> police in san leandro need your help to find a well dressed bank robber who targets a bank of west branch demanding money from a actualer at the washington avenue location on wednesday. the teller complied. police searched the area. they could not locate the robber. >> this morning, investors are watching how wall street reacts after key indexes in china ended down for a 5th straight day. the shanghai index swung back-and-forth 20 big losses and gains before closing down 1.3 percent. there were positive signs including stocks in japan rally with the nikkei up 3.2 percent and south korea's kospi rebounded up. beijing cut interest rates to stabilize the markets and at home the united states stocks are boyed to open higher after a 10 element couple of days. >> a suspected gunman stopped by three sacramento men facing terrorism charges in france. cell phone video shows ayoub el-khazzani after three train passe

j.p. morgan chase, bank of america, and citigroup. seven banks remain defendants in the case. a spokesman for the bank of , allca, and others declined to comment. hsbc has no immediate comment. the foreign exchange benchmark rates litigation case is being heard in the southern district court of new york. we will keep you posted a new developments there. back to you, shery, shery: one of china's biggest ports remains closed, crippled by the massive explosion. we are now getting some idea of the damage caused in tianjin. has the latest on this. stephen: this is turning into a horrific story in china. have detained the owner of the warehouse. all investigators have said publicly is the giant explosions were started by a fire. at least 50 people are known to have been killed and more than 500 injured, many critically. anger is rising among those living in the neighborhood, a densely populated area. questions have been raised why were toxic chemicals stored so close to homes and white residents were not evacuated. also raise questions about growth at the port. it is the 10th busies

is the analysts over at j.p. morganun edison could take a significant portion of the hundreds of billions of dollars being fed into the global alternative energy market , so that means, obviously, solar but also wind, etc. things that sun edison's boys well to take some of that. back to you. erik: thanks very much. still to come, commodity prices, what do the big declines mean for one of the producers of agricultural equipment? agco coming up next. ♪ erik: it is time for "picture this" where we take a look at top photos and picked -- and videos. open arms last week. dozens gathered to greet the migrants with flowers and signs, welcoming. the video was posted on facebook by a syrian refugee. to see 800,000 seekers this year. earlier this month, it was a mini submarine. this week, russian president vladimir putin was added again in a phot -- photo op that shows him and the prime minister grilling breakfast together. it has been a brutal week for stocks and a more brutal for years for commodities. the bloomberg commodity i

on the bankside, citigroup and j.p. morgan looking pretty 5.2%., down at least that ties into the rate hike situation. people were expecting a big windfall for banks. that was on the nose particularly bullish for them. now it is probably pushed up to december if not later. the arts have absolutely changed after this route. as you indicated, what does this mean for the impending fed rate hike? a lot of people that did that september rise. that's are off now. joe: september is no longer on the table. it'll be extremely surprising if the fed were to move in. september would be the earliest they would do anything. right now, probably 46% of a december rate hike, down from 61%. it is the preferred outcome out of the two. it is down 15 percentage points from where it was friday. definitely have seen the effects of the global turmoil. we actually had someone yesterday, the chief investment officer doug ramsey, he said as soon as we get a correction, we could definitely know the eminent rate hike. that is an extreme view. that remains

global market strategist at j.p. morgan. i want to read what you said to me on friday before this interview. intoaid that hiking september would likely be viewed as a policy error while delayed you would be seen as a problem. told you expect the fed match a delay with modestly hawkish rhetoric. is that what this was? the federal setting up to delay rate hike maintaining discipline for the market? >> the hawkish tone was definitely there. i didn't get the sense that they were trying to explain that they were delaying the rate. to me it was surprising the upbeat tone of central bankers and jackson hall and their confidence in boosting inflation. when i look at market anticipation i do not feel the inflationary dynamic is there yet. if you look at five-year inflation swaps you see they increased extensively but lost almost all of the gain during the summer. you'll see the selloff in inflation bonds. i can acknowledge there might be some inflationary dynamic in the u.s. although wage growth has but elsewhereting in japan and eur

companies like citi bank and j.p. morgan seem to be run by democrats for democrats.l put policy meat on the bones. liz: i just want to clarify: every candidate should be grilled by every journalist and asked a lot of questions. what i meant to say is not focused on one issue, immigration. now he is putting out. >> the key we will be for him to give enough specifics to look serious and substantial without getting into the weeds.weeds. he was when he talks about generality, making america great. they want to here that. when you get into details though say that doesn't sound conservative or republican which creates problems for him in some ways. he will have to provide specifics about getting in the weeds. on immigration he handled it -- disagree are not, but he handled it well. >> go ahead. five seconds. >> and politics people don't really start paying attention to specifics until it's almost time to vote. >> meeting voters are dissing days right now. good peemack. more email problems for the clintons, but it is not just hillary.hillary. we will tell you all about it n

bill, asset management at j.p. morgan. i'm hearing things like currency crisis, and currency wars. give me the reality check. what is this? markets, the knee-jerk reaction, does it turn out to be much bigger? bill: factor in the month, we are in august. we don't have much volume two take those moves. we have a market which is truly a summer market. if you are talking currency wars, let's be crystal clear -- but that europe down 10%, australia down 10%. if this is china entering a currency war, they brought ap shooter against a canon. that is not the way. ais has all the hallmarks of statement of intent in terms of gradual liberalization of markets which is with the imf has asked for and welcomed. never in mind, china has to walk a fine line. they were accused of being currency manipulators a few years back. this is them taking baby steps towards liberalization regime of their currency. i don't personally see this as being a major devaluation trend. jonathan: a lot of people talking, talking about it cut to the rrr rate. has to gonk the pboc down now? john: they have shown they will

chase and company requiring j.p. morganhase company to pay approximately $12,000 plus to the successor agency based on it's prorate share of damages the resolution number has been changed from 102013 to 4892015. >> through the chair we need to clear the room for closed session and switch the tapes and the members of the public have le left. >> okay. it is 317 we're back on this record the commission has been advised by the council on 10 a we have a resolution 48 dash 2015 i need a motion for approval it has been there is a motion and a second commissioner please announce our vote when i call your name commissioner mondejar commissioner singh commissioner bustos madam chair rosales okay i have madam chair the vote is 4 i's. >> okay. the supplement is approved thank you. can you, please call the next item. >> the the next order of business is item 11 adjournment. >> madam chair. >> yes. as 318 the meeting is adjourned thank you the inteblt of our everyday life everyone with the seniors use it for work and play. although there

vonnie: mike of j.p. morgan chase mentioned that.could come out in september and say we need a little bit more time and we will have a president robert's after the october meetings and suddenly october is in play in the fed has the luxury of looking at more information which -- vonnie: they said every meeting is a live meeting saying anything can happen. tom: the markets have to react to this. michael regan, to bring it back to you, what a week it has been, where are we a month from now? everybody gets back to wednesday after labor day or september 10 or september 15, find, then what for the markets? michael: the big question is when will the fundamentals take back over? tom: the profit making machine that is america. michael: the trading going on this week was a lot of computerized trading signals off of each other, strategies that do not have anything to do with economic fundamentals, they are taking signals on the volatility and from the momentum in the market, and eventually the value investors come back in and maybe we will see

chase and company requiring j.p. morganhase company to pay approximately $12,000 plus to the successor agency based on it's prorate share of damages the resolution number has been changed from 102013 to 4892015. >> through the chair we need to clear the room for closed session and switch the tapes and the members of the public have le left. >> okay. it is 317 we're back on this record the commission has been advised by the council on 10 a we have a resolution 48 dash 2015 i need a motion for approval it has been there is a motion and a second commissioner please announce our vote when i call your name commissioner mondejar commissioner singh commissioner bustos madam chair rosales okay i have madam chair the vote is 4 i's. >> okay. the supplement is approved thank you. can you, please call the next item. >> the the next order of business is item 11 adjournment. >> madam chair. >> yes. as 318 the meeting is adjourned thank you >> being a pedestrian in san francisco is not easy for anybody. >> [inaudible] people push tables a

merck is the biggest winner, j.p. morganapple is right there and top performers and the dow industrial average. i'm looking at walt disney, 97 on walt disney, a long way from its high and looking at mcdonald's at 92. maintaining at the price it's been at for some time. ge, maintaining $23 per share. remember, monday morning? ge sank to 19. quickly went back to 23. it's holding at 23. >> mcdonald's got beat up. another dow component because of exposure to china. a lot of people are looking for stocks that got hit so hard because of the china worries and some are buying those names this morning as well. broad based rally in the early going, holding with a gain of 300 points for the dow jones industrial average. and we've got someone with us who has two big blue chip names and he says these are a buy. his name is jack hough howe. >> you're not going to take this market down. take more than you to do that. you've got two names on sale. and you jump in and buy them now and if you're a long-term investor, these are go-to stocks. n

earlier, we spoke with the chief economist at j.p. morgan securities. >> the reason why the fed is thinking about tightening is potential growth is leading to rapid tightening in the labor market. you get lower equilibrium rates -- you have to get there quicker. more than three quarters of the economists surveyed by bloomberg say the federal reserve will raise interest rates at next month's meeting. shares of target higher today. the discount retailer posted second-quarter earnings that beat at us -- beat analyst estimates. has cutchief executive costs and is focusing on the company's best categories. longtime pitchman for the subway sandwich chain will be going to prison for sex crimes. jared fogle pleads guilty to having sex with minors and receiving child pornography. they're asking for the prison sentence of more than 12.5 years. he is paying restitution to his victims. subway says it has ended its relationship with vogel -- jared fogle. england remember in time the country stood alone against nazi germany. a battle in the skies over sou

this is in a shared dissolution agreement with j.p. morgan chase. back to food, post holdings is popping nicely. this is the maker of raisin bran and pebbles. the big factor here is that citibank think that the outlook for crereal is better. and in the industrial sector, caterpillar is up by nearly 3.7 percent. -- 3.7%. rally in shares that the downturn is past. fruitywhen you said pebbles, what made you choose that one? >> it was my favorite in childhood. i liked the cocoa pebbles. i waited for the chocolate milk at the end. milk am a chocolate fanatic -- a fruity pebbles fanatic. betty: there you go. matt: donald trump is under fire describes megan kelly, the fox anchor. her performance during the public debate last thursday. now he sent out a tweet saying he spoke with the fox news chief roger ailes. trump had described kelly's question about how he had referred to the fact that women are nasty or inappropriate, i think he went further to say she was hormonal and used some other terms. betty: yes, which i would not repeat. matt: why would a call

coach downgraded to neutral at j.p. morgan.yhere said showed all the product changes that coach has made over the last 12 months, consumers are not really aware of those changes or not enough. take a look at my bloomberg terminal at the top sales trends we've seen for these two handbag makers. , it has not seen a lot of strength. we have seen a deceleration of that. coach, these are all negative numbers as it struggles as is trying to execute its turnaround. if you look at the stock price of the two companies, some interesting action there. the ipo is down about 20%. coach is down about double that during the same time. of course the drop from ko rs'highs has been even more dramatic, something like 60%. both of them are now struggling. i understand you have some breaking news. news,we do have breaking puerto rico has failed to make the full august 1 debt payment. to 58efers to most likely million dollars of principle as well as interest that is due on saturday on the public finance corp. bonds. there had been concerns that it w

the chief economist at j.p. morgan i know that the eci number through some people and causes the doubt earlier this week, last week. but in today's numbers, did they not visit to you? >> they were decent. the average work week suggests that the growth in the third quarter is building upon that rebound we saw. the momentum remains solid. i think this is consistent with a september lift off which is our goal. matt: we had 2.1% year-over-year growth in average hourly earnings. people are earning more money. >> it is not accelerating it is remaining pretty slow, but we do think that september is still the best case. it is not a slamdunk yet. if we get some disappointments in the next round of data that could make september more of a close call. having report like this in august means is we feel pretty confident. mark: what will they be keeping their eye on? >> we will have the next jobs report a month from now. i think it will also be nice if we see financial conditions remain consistent with growth. in other words, would

j.p. morgan chase and goldman sachs didn't care about that. the bankruptcy bill was lobbied through by the community bankers and the credit unions, which is why it was so hard to defeat because they have a lot of clout. but if you look at the issues, well let me just quote paul krugman, who was the best liberal -- >> no one's idea of a conservative. >> and a great commentator. go back and read his columns in 2008 and he documented that she was the barack obama's left -- >> left. >> -- on domestic policy. i do have some questions about her on foreign policy. >> right. >> also president obama. i think the time has come. i like the president's initial notion to get out of iraq and afghanistan. he's getting pressure to go back in. there's nothing we can do there. the notion that we can, by military force, make coherent society -- >> yeah. >> -- for the people who are determined to hate each other. >> and you think her position on those issues is different than his? >> no, it's the same as his and i want them both to pull back. >> wasn't she also l

the best earning season in six years at j.p. morgan.ows to is that the greek markets are getting more isolated the rest of europe. mark: in asia the first major new listings the china's top market plunge made it a daily hat -- if the daily hate n -- meet its debut in hong kong today. >> thing debuted on the hong kong stock exchange to much fanfare. the chairman and cfo ringing the ceremonial call to start trading. shares were offered at $6.50 hong kong. it gave it a market cap of $55.1 billion in it is the first ipo listings and the stock market route that white trillions of dollars for mainland shares. mark: it is time now for this week's peek into the good life. while the hamptons have long been the retreat for hebdo wall street executives, hawaii has now become a playground for the wealthy and delete. so with high demand is urging, the hawaii's wholesalers are looking to capitalize. there is now a record number property on the market or at least $20 million. one of those listings belongs to neil young. the rock legend is said to be s

earlier, we spoke with the chief economist for j.p. morgan securities. >> we have international set of forces, adding worry to the fed not just because inflation but on the growth side, the dollar going up. it hits inflation and growth. continued labor market that the fed should be looking at to be pushing up inflation overtime. it is a close call here. more than three quarters of the economists surveyed by bloomberg say the federal reserve will raise rates at next month's meeting. betty: the fed has 80% target for inflation. the economy is not cooperating. -- has a 2% target for inflation. shall prices barely rose with oil and the cost of airfare and home furnishings all filtered -- fallen. angela merkel lobbied lawmakers to prevent too many members from voting no. movinghares of target lower by 1% today. the discount retailer posted second-quarter earnings that exceeded analyst estimates. same-store sales also better than analysts had expected. here's brian cornell on the target conference call. we are becoming much more flexible in the way

but draw all of the strings together with the chief asian market strategist at j.p. morgan. what do you think? rishaad: fed. angie: september? >> very volatile in the past week. if you look at the macro data, there is an argument for the fed to move in september. we have strong growth in the economy. to an a half percent in the second quarter. the labor market is gradually recovering -- 2.5% in the second quarter. the labor market is gradually recovering. holding it back. one is the inflationary pressure which they addressed in jackson hole. second is the market volatility we have seen. at the same time, we have seen that the market has gone down in the second half of last week. i still think that it is a close call for september. we did actually scale back my expectations on september but that being said it seems to be back on the table. the java data in september and august will be decent. b data in september and august will be decent. rishaad: 200,000 is what you would expect. but average wages, that will be the key part, because people are not getting the wages given the

in europe at j.p. morgan asset management. stephanie, great to have you with us. i'm looking at the commodity market, brent is up 50. copper almost any bear market. seemingly, the world is ending. bring us reality here. is it all about supply? stephanie: what is happening to commodities and world trade, it doesn't see much flash of red light. it does give you a? -- it does give you a question mark about the strength of the global economy. it is primarily an oil story. so far, you have seen all of these other routes and commodities. they say copper is the only one with a phd in -- there is a structural shift in demand. china is in producing the kind of momentum for emerging market economies that it was. we're not seeing america or europe take up the slack. there is a general softness which you see in reduced activity. the see the world trade growing slower. i will about the pulley clip? i do not think so. you see strength in the u.s. you can see europe. the one source of positive surprise over the last few much. i don't think this is telling us we are headed for a

economist at j.p. morgan. let's zero in on what mr. dudley said. is he right, are the odds now listening that the fed will make a move next month? so.ael: i think i think he confirmed what the market was already anticipating. before today, markets were putting odds of may be one in four that they would hike in september. i think that they came out and said what is happening in the markets is causing us to be a little less inclined in september. left the door a little open toward developments, should they improve in the next few weeks, but i think the odds are less than 50% after we got that confirmation from dudley today. mistaken, youot already had the on this morning at 35% to 40%, but you still think september is the most likely month this year. is that the case after the comments? think that's right. it does not seem like september will happen. obviously, we have to wait and see but we get next week with payrolls. then get a blowout number, september could come back. if it doesn't happen in september, it is a tossup of whether they move in octo

we are joined by stephen, the head of strategy for european strategies at j.p. morgan. that an assumption today germany will rubberstamp this third bailout in five years? stephen: i think they have to prove it because the bailout has the approval of the finance ministers -- they are negotiating it, and they are the incumbents. they are going to get it through. mark: what is priced in and what isn't priced at? obviously the worst is over, the big concerns are over when it comes to greece. the money should now be cb.thcoming from the e the equity markets were very concerned in the run-up to the negotiations. as part of the negotiations, it meant that the greeks were increasingly, openly allowing to talk about the euro exit, and then surprised everyone by opening the possibility. i think the underlying truth that they were just negotiating hard, and a bluff was being called. in the end, there was no alternative. mark: but that could cause problems, couldn't it? a vote of confidence after august,, the 20th of might the party unravel in coming months? stephen: well, it's not

will speak to michael feroli, the chief economist of j.p. morgan securities.p to revive two iconic models. the automaker they return pickup of the ranger and bronco here to the usa where truck demand is big. we have the scoop from detroit. david, for me, the exciting part is the bronco. ford makes the ranger, i know it's in demand in the u.s., but the bronco is the one that real auto nerds have been clamoring for for so many years. is it really true, is it coming back? >> i think it is. they don't want to put out the announcement yet because they are in the middle of labor negotiations. they like to dangle in front of the united auto workers union, if you make a concession here, we will guarantee that you have products to build. ford has done well with iconic brands. the mustang is doing well. they are bringing back the continental for lincoln. i think this will come back because it has a real following among young people in southern california, even though they have not made a bronco since 1986. matt: we are looking at pictures of the ranger. are we going to

coming up in the bloomberg market day, who is bringing in the big bucks at j.p. morgan?urns out it is not c.e.o. jaymee diamond. it is the first time that has happened since 2007. why do investors always feel uneasy before the weekend. and what is corbynomics and what might it mean for great britain? all that and much more. this morning we got a fresh read on the pace of economic growth in europe, and it is not good. euro area gross demetic roblems registered a zero pace last quarter. growth in france, flat. earlier, mark crumpton and i float to a former bank of england policy member. >> the number is obviously quite a weakness. we should put it together with the other set of data that came out on inflation. 11 european countries in deflation. finland has just g.o.p. into de-playstation. t looks like tess -- looks like it is going to be four years in a row. the european central bank said they thought things are going ok in the european union. but there were major risks to the down side. now we have risks to the down side from china, risks within europe, dow jones unemplo

there was also speculation that j.p. morgan would be looking to buy worldpay at some point. down about 3.7%. this as european stocks moved lower due to the drop we've been seeing in oil price. fast nating to see the correlation between price action in the stock market and oil prices as well. we'll leave you with a look at how futures are trading. dow with a lower open of 112 points. we'll bring in a panel of experts after this short break. >>> welcome, everyone. you're watching worldwide exchange. i'm seema mody. here are your headlines. china pumps more liquidity into the money markets. this as one official blames the fed for the recent market sell off. the slip and slide continues. oil begins to reverse yesterday's stellar gains which saw wti reach the highs not seen since march of 2009. digging in, investor carl icahn snaps up a 9% stake in freeport. he wants to talk about capital spending as copper sinks to multiyear lows and cord cutters taking a snip out of media stocks. the chairman of charter tells worldwide exchange the market melt down was excessive. >> we can star

and jamie diamond ran the nation's biggest bank, j.p. morgan chase, rake fwlg $27 million.ut from wall street executives to silicone valley superstars, how much stock should we put in the ceo pay gap? some reports calculate that divide as 330 time the median american worker. others, more like 216 to 1. are any of the studies accurate? well, here's one problem. >> the ceo salary is usually a relatively small part of their total take-home pay. >> robert dane, co-director of the rock center on corporate governance hits on a really important point. ceo salary isn't usually that high. the bureau of labor statistics says it's about $180,000 a year which is roughly five time that of a typical worker. mus being made $35,000 in salary in 2014. larry ellis son made $1. >> the vast majority of their pay is in stock options or stock that's they get. >> so you can go by salary and stock awards. which most studies do. but it turns out that data isn't reliable either. brookings institution senior fellow explained to us over facetime that stock awards aren't automaticalliwarded. they're us

. >> we can be reading about first solar in morgan stanley and j.p. morgan done. >> it's not done. we don't have the same need they do, we have a massive balance sheet, we don't need the warehouse type facilities but we will continue to innovate on the capital side as will the others in the industry. >> 8.3 is your yield code, that's the amount of time it takes the sun rays to hit the earth. i did a bit of work on that. if an investor is watching the show and they want to be in something good for environment, which people care patrolm-- peoe tremendously about. why pick it? >> the best story i can give you, it's -- >> it seems mlp like. >> we are in the manufacturing business and the project development business. those businesses are lucrative and are attractive to some investors but they are more risk oriented than a capital off of an established project. and they have a different cost of capital. if you are looking for a mlp type, rock solid stable cash flows that has growth with that. then the yield co, 8.3 is what you want to invest in. if you want more

result is, they cannot sustain their business because they have to hire the same accounts that j.p. morganoes, can dost me, jp morgan that easier. if we want to make sure the next generation of entrepreneurs is successful, we must protect our banks from going out of business. >> next, q&a. then, another chance to see presidential candidates hillary clinton, jeb bush, martin o'malley, and others speak at the urban league. then, house hearing on live anthrax spores being shipped to laboratories. >> the republican presidential candidates are in manchester, new hampshire for the first presidential forum on monday. and, c-span's road to the white onse is providing coverage c-span, c-span.org, and c-span radio. following the live forum, you can provide your comments on facebook or twitter. house 2016 onite c-span, c-span radio, and c-span.org. >> at night on the communicators, democratic representatives on cyber security issues and how to combat recent data breaches. >> the most recent attack on the office of personnel management, but also on target, home depot, so many other private corporation

result is, they cannot sustain their business because they have to hire the same accounts that j.p. morganoes, can dost me, jp morgan that easier. if we want to make sure the next >> next a house hearing on the shipment of anthrax to laboratories. a house hearing on what was learned in dealing with last year's avian flu outbreak. ofer, q&a with the author pirate hunters. pope francis is scheduled to make his visit to the united states in september. tomorrow, the national press foundation gives a preview. you can set live at 9:00 a.m. eastern on c-span two. >> the republican cans -- the republican presidential candidates are in new hampshire on

look will -- will look for views on interest rates and earlier we heard from chief economist at j.p. morgan securities who think the dollar can be pivotal in the decision. >> the dollar, in terms of financial moves, much more than oil prices is the fed. the dollar has been hurting the u.s. manufacturing sector, supporting disinflation and it is a reflection of weakness in economies abroad. if the fed is going to stop from an international perspective, it is the concern that the dollar has been moving up and offset to monitor policy sites. matt: more than .75 of the economists surveyed by bloomberg save the fed will raise rates in september. those that notes are due this afternoon at 2:00 eastern and we will have them instantly on bloomberg television. pitch mane long-term for subway will plead guilty to having sex with minors and receiving child pornography. federal prosecutors say jared fogle traveled to pay for sex acts with minors. they also charge that he obtained child photography knowing it had been produced by the former director of his charitable foundation. subway has ended its rel

chase and company requiring j.p. morganhase company to pay approximately $12,000 plus to the successor agency based on it's prorate share of damages the resolution number has been changed from 102013 to 4892015. >> through the chair we need to clear the room for closed session and switch the tapes and the members of the public have le left. >> okay. it is 317 we're back on this record the commission has been advised by the council on 10 a we have a resolution 48 dash 2015 i need a motion for approval it has been there is a motion and a second commissioner please announce our vote when i call your name commissioner mondejar commissioner singh commissioner bustos madam chair rosales okay i have madam chair the vote is 4 i's. >> okay. the supplement is approved thank you. can you, please call the next item. >> the the next order of business is item 11 adjournment. >> madam chair. >> yes. as 318 the meeting is adjourned thank you@p >> i have 2 job titles. i'm manager of the tour program as well as i am the historyian of city

he is senior airline analyst at j.p. morgan. welcome becomeack. >> thank you. >> is it as simple that lower oil costs and airlines will benefit and you should buy the stocks? >> in a word yes. i don't think the entire investment thesis is predicated on cheap fuel. it comes on top of the benefits that we've already acrude consolidation, better management, the chap 11 car wash that so many airlines went through. but lower fuel is good for airline earnings and also good for shareholders because a lot of the cash is put back on dividends and buy backs. >> the gains are not evenly distributed. what is the difference between airlines which tend to hedge fuel and those which don't which would capture more of the immediate benefit? >> top rated american airlines stands out. they don't have any fuel hedging at the moment. i don't think they ever change that policy. having said that delta, you know, in southwest have both materially overhauled their hedge books. so they are increasingly benefiting as well. but american, the math is very e

and i think that anybody -- unless the democrats dig up j.p. morgannd run him this fall, any democrat will look good against any of these republicans on the issue of income inequality. >> right. and i also feel like -- i mean, sam, not to -- i don't mean to impugn the -- your sources here. >> go ahead and impugn them, it's fine. >> also, joe biden wants to be president of the united states. the idea like, well, i was sitting around and the message -- >> this guy has run twice before. he's been in public life since 27, 28. he's been vice president of what is shaping up to be a monument ly significant presidency, whatever side of it you're on. that seems like the core issue here is does this guy want to do it? i think it looks like he wants to do it. >> the means and objective here are intertwined, right? he looks at clinton and sees her as a flawed messenger on the issue that he believes will be the deciding issue of the day. and that, of course, is income inequality and he believes that 's the pathway to the presidency. now you're right, like anyone i

flipside, the next is cap down by about .8% because it was downgraded to underway from neutral at j.p. morgan is down to $29 a share. this is from $40 a share. they are saying competition from h&m and others are giving cap a run for its money. was saying they will close one out of every four stores in north america. that is not good news for this company. seeing good news, up by 2.6%. this is good news because barehands says -- barrons says the shares could double to $30 because of cost-cutting efforts. in june, the c.e.o. said they will have $300 million in cost cutting. to thisgiving a bump stock. stephanie: thank you. erik knows i spend a lot of time talking about gap, h&m, and other fast casual lines. thank you. the fed reserve chair stanley fischer says don't get used to low interest rates, sitting down with tom keene earlier this morning. mr. fischer says we have to look to the future. stanley fischer: a large part is temporary. it has to do with the decline in the price of oil and raw materials. these are things which will stabilize at some point. we are not going to be as low as we ar

j.p. morgan chase is making it easier to take out mortgages, lowering the minimum credit score to 6080 and down payments to 15% on mortgages up to $3 million. >> blue bell is producing ice cream again after being shut down for listeria contamination. tests have come back negative for listeria. another plant has not been cleared yet. no word on when the ice cream will return to shelves. >> bill cosby will be questioned under be oath in october for allegations of a young woman. his deposition in a separate case was settled out of court nine years ago. this is the first time since then that he's been directed to testify under oath. >> the votes are in for who america's want as the new fails of the $10 bill. former first lady eleanor roosevelt came in first with 27%. next, huer yet tubman who came on top. she garnered 17% of the overall vote. third, a native american explorer sack. with 13%. the new note will debut in 2020. >> five on five team game, the international, the fifth national, the fifth a

as the fixedus income strategist at j.p. morgan asset management. welcome to the program, ladies.number one. >> let's look at high-yield, which is finally starting to live up to its name. we've had years and years of really low trans on junk rated bonds. yields are up to 5.5%. the highest since 2012 according .o the b of a index as we get higher spreads and higher yields for investors, whether we see value people start to come in and possibly wish those spreads down a little bit. push those spreads down a little bit. people are demanding more compensation to buy junk rated corporate bonds. >> we've had all that pain in , which emerging markets are a big component of u.s. high yields. >> this is not the widest we have seen. it is starting to move away from no yield territory to start to offer some yield. this is the most read we have seen going into a fed hiking cycle. even though it might not look incredibly juicy, there is much more value than we've seen for months. in the midpoint of 2014 when the spread was half of where it is today, you saw tremendous inflows into the asset cl