of j.p. morgan j.p. morgan, a man named jamie dimon, speaking of the last republican government shutdown, said washington has really slowed america down. i agree. if that were the only thing that was happening, it would be bad enough. but there's more. today i went to a neighborhood in chicago, the all saint's e-- episcopal church in ravens worth. we were at the food pantry of this church. this particular church tries to help neighbors and residents who are struggling to try to find something to eat. we had a meeting with two representatives, people who represent the food pantries of the chicago land area. they are worried about a shutdown and what a shutdown

well, first of all j.p. morgan believes the market's reaction, they thought it was too severe. well neurontonin is less attractive than they thought, the analysts say the drugs are still effective. if they can control the diarrhea problem it could have an upside. given that puma is already studying their drug in combination with imodium, the bulls at j.p. morgan think that this compound's benefits will outweigh the safety risks and they're betting the fda will agree with them. ultimately these guys believe it could do $2-billion in peak sales from breast cancer alone. remember it's being studied in solid tumors and nonsmall cell lung cancer. that means the upside could be enormous given that puma is a $3 billion company. where do i come down? this is tough. i like what i hear but right now puma feels to me like the quintessential high-risk high-reward biotech. if the upcoming data is positive and the companies can convince doctors to view neurontonin as less problems with die korea, the stock could rocket higher. if things don't go well, the down side could be enormous from the

tom: would j.p. morganl feroli, lead on a new terminal value -- do you ratchet down your return on equity's? bring up the single best chart. this is a work of art. look at that chart. there it is. is it a new terminal rate? is the new 7% 5%? kate: in terms of earnings growth equitation's -- earnings growth expectations? depending on your starting point, we have to be pretty realistic about what we can get from risk assets over the next 12 or 18 months. we have been more conservative. we think the returns off equities are potentially going to be stronger than fixed income, even if we move down our expectations to mid-single digits over the next 12 months. brendan: i have pulled it together. one of the things that kept coming up at jackson hole was this whole idea of here is where we are in the cycle, this is what should happen in the future unless this time everything is different. what is your confidence that this time is the same as the other cycles? kate: i was obviously not in those fed conversations, an

so we sent a team of people in to see what j.p. morganto accelerate the survival and hopefully the thriving of detroit. >> you're doing this for pr because people are so mad at the banks or are you doing this because it's good for the bottom line? >> it's -- we're doing it because it's good for the bottom line because we're here. we want -- i love america. i want america to do great so when we see problem we try to help. >> let me borrow a phrase we're hearing a lot "china is killing us." is china killing america? >> absolutely not. you saw recently they had a bump in the road and it was just a speed bump that showed you that the transition to where they are to where they're going won't be that easy. they're very smart, they're very educated but they have to move to real market reform and let the market make certain decisions, they have to broaden out what you might call their democracy, the 100 million people voting inside the communist party and they'll have bumps in the road. >> should we be concerned that they hold so much of our debt

michael bell, j.p. morgan assets -- j.p. morgan asset management.putting the plug in alaska. we head into the european equity market open in 19 minutes time. we'll take a break. ♪ guy: it is 7:44 in london. let me take about the stories you need to know about. shell will stop further expiration in alaska. -- it didn't warrant for the work. counting the regulatory environment as the reason. june it wassaid in in the early stages of discussing with the u.s. company. vodafone is the second largest mobile phone carrier globally. -- coal mining earnings down. oil and gas profits down 67%. busy corporate morning. i have the shell story. we have the vodafone story. we have become -- we have been speculating for months. we know why? what does it mean. go, we a few want to were very much in discussions. yes, what has gone wrong? anm the start we have known array of options. with a merge their businesses? is a story that has been doing this -- doing the rounds for so long. we don't know if it is a. . stop.it is a full one of things to keep in mind is they hav

ceo ofthe guests is the j.p. morganet management in the asia-pacific and he joins us live in studio this morning. thank you so much for joining us. a pleasure to have you. before we count down to your big panel next week, i want to talk about global equities. people are saying valuations are hanging on for their dear lives. you should not be buying stocks right now. really, how are you advising investors? advising always investors to be broadly diversified. we think you have to own stocks as part of any well-diversified portfolio. we see a lot of opportunities. we are overweight and stronger overweight u.s. now, especially given the correction. we are overweight europe and japan. we think there are opportunities throughout the emerging markets. yvonne: when you talk about a developed market bombshell like glencore, caterpillar, alcoa splitting into two companies, does that give you concern about what is underlying global growth right now? events nothing those cause concern relative to local growth. we certainly see a sl

my interview with j.p. morganchase ceo jamie dimon. >>> and joing me this sunday for insight and analysis are author david maraniss of "the washington post," molly ball of "the atlantic," maria shriver, and radio talk show host and debate moderator hugh hewitt. welcome to sunday, it's "meet the press." >> from nbc news in washington this is "meet the press" with chuck todd. >>> good sunday morning. the sunday morning after the big republican debate and we have the results of a brand new nbc news online survey conducted with our friends at survey monkey on who won the debate and where the reblican race stands. first, on the issue of who won the debate, for once the pundits were right. republican voters saw carly fiorina as the big winner followed by donald trump. after that everyone else is in single digits and, by the way, the names you don't see, if your candidate is not there, it's because none of them topped 1% on that question. where does the overall race stand right now according to our new survey? trump laps

getting j.p. morganet management's take on a decision not to do anything about the cost of borrowing. ♪ .m. ind: it is 7:45 a tokyo. the market opened up in an hour and the court appeared the reaction in tokyo. we will see how the asia-pacific reacts to the fed decision. chicago futures looking very good. up marginally, 18,300. ursday, that on thru we saw the nikkei to 25 putting on 1.4%. let's go to sydney where we had % thursday.by .1 talking to reporters in sydney, suggesting that we may see a bit of red when things get underway. joining us enda curran and our chief asia market strategist at j.p. morgan market jpmorgan.- did they blink? extent, yes. nothing has changed significantly from the past few months. the job market was getting better. growth was getting better, too. so, for them to suddenly switch away from we ar getting ready toe hike. or pull back. i think that was a surprise. obviously, china has been a factor, but to me, the weak china growth has been with us for quite some time. volatilit

goldman sachs j.p. morgan chase and mitsubishi.y big names in this ¥1.4 trillion sale, it will be one of the largest ipos in japan. the telegraph raise 2.3 trillion in 1987, that was the height of japan's asset bubble. angie: things for that. time now for look at some of the top corporate stories. your shery ahn. isbloomberg's rival in china taking the battle global. there alongside alibaba. alibaba put in a $25 million number is locked in a costly fine in china. each raised about $4 billion as they try to secure market share with incentives and subsidies. nintendo is taking pokÉmon mobile. title, theion-based company is form -- teaming up pokÉmongle to release go next year. it will be available on iphone and android. nintendo is hoping to laura back players who failed to react to the rise of mobile gaming. on a down day, shares surge. the wall street journal says platinum equity may announce next week. a sale is just one of the options. and there is guarantee it will go through. those are your top corporate headlines i'm shery ahn

of j.p. morgan j.p. morgan, a man named jamie dimon, speaking of the last republican government shutdown, said washington has really slowed america down. i agree. if that were the only thing that was happening, it would be bad enough. but there's more. today i went to a neighborhood in chicago, the all saint's e-- episcopal church in ravens worth. we were at the food pantry of this church. this particular church tries to help neighbors and residents who are struggling to try to find something to eat. we had a meeting with two representatives, people who represent the food pantries of the chicago land area. they are worried about a shutdown and what a shutdown means to them. how would it affect all saint's episcopal church food pantry and the men and women who go in there on a regular basis to pick up some canned goods to get by? here's what it means. many of these people are on food stamps. we call it the snap program now. the snap program on average gives a person food worth $7 a day. so the notion that

citigroup and j.p. morgan chase also declined a drop for the business.wall street firms have been cutting jobs. we are hearing barclays is also a limiting positions. iminating positions. japan's prime minister said he wanted to build a new system where ceos and other board members are transparently selected. has contracted in four of the 10 quarters under abe's administration. he announced new arrows to his economic plan. since he took office in december, 2012, a massive monetary stimulus and fiscal stimulus have failed to shore up inflation which fell into the negative for the first time since april, 2013. back to you. later in theg up show, changing times read a look at how focusing on innovation may keep watchmakers keep on ticking. the final cut, or where the==== bankll the indian central ease a sputtering economy? more ahead. ♪ yvonne: now to india, where the central tank cut rates by a surprise 50 points. the biggest cut points. my guest says india well remain on hold for some time despite a fragile coverage. in our guest joins us from singapore. g

let's bring in laura fitzsimmons, the vice president of futures and options at j.p. morgan.thank you for joining us. i want to ask you about india. this happened at midday for them and really surprised the market. no only the cut but also what with the foreign ownership of locally denominated bonds. tell me the opportunities that opens for everyone. i think it is important to acknowledge the larger than expected cut and i think the main driver behind that is that the risks are growing very much for the emerging markets and i think it is interesting to see central banks more aware of that than others. his really shown his strength here to deliver something the market didn't expect when potentially a lot of central banks are still very preoccupied with inflation. think thatason i even though they are trying to bring about some disinflation in india, he was willing to take a more bold step at this juncture particularly when there are other risks to food prices. resonate strongly and we certainly do feel that it probably does give some pressure on to other central banks in the r

if you put goldman sachs and j.p. morganthey take out about 80 points of the 500 and change we lost. weighedo very heavily are responsible for a lot of the loss we have seen. also apple is a huge part of the drop we have seen on the s&p 500. down 3.5%. it has taken big losses this week. people are concerned they won't really dazzle with their september net presentation. what are they going to show us we absolutely have to have? what do you think? alix: i think it is a lot of trading to sell the news buy the rumor. matt: are you excited for the apple presentation and what do you think tim cook is going to show you that you have to go and buy right away? alix: i don't know. we will have to see. i do know that the iphone 6 replacement cycle is really big so it has to be something pretty awesome to keep that product cycle going. thank you. now to a look at some top stories. twitter needs a new ceo and we will not know who until after labor day. the newion today that ceo could be named today. after dominating the market and , son

we have jacob frenkel of j.p. morganhase and we will also .ave nouriel roubini they will weigh in on what the fed should do and when. guy: with respect to turkey, having a conference on the shores of lake como wins it. enjoying the italian lakes today. mainland markets remain close today. -- closed today. they closed for a second day because of the commemorations of the end of these second world war -- the second world war. open, perhapss some investors which they were not. -- wish they were not. it is being supported by a pickup in a number of commodity somes, we have seen picking up. china is closed for another session, but the market here in hong kong opened after its one-day public holiday. index -- aise visiting mainland shares owned by foreigners and institutions has resumed. it has slumped by 2.6%. it is now down 14 out of the past 15 sessions. we have a raising yen in japan, it is weighing in on the overall nikkei which is down 2%. this is the picture of the asia-pacific benchmark ridge index. you can see in late

it has been a couple of years since that kerfuffle at j.p. morgan, michael. what does that say to you that once again the focus is turning to corporate governance. mike: it is amazing these guys can hold the job so long with all the noise made about it. people have been talking about splitting up those rules for a long time. i do not know what their stake is in bank of america offhand? 1%. it is still obviously a big bully pulpit with a lot of money being managed in those funds. it will be interesting to watch. get to number three, apple. tois teaming up with cisco allow easier capability for its products to work with cisco. on the tv front, the company is in talks about producing exclusive shows for its service. apple might be late for the game. excitingittle more than amazon. everyone is doing it. even amazon in catastrophe -- >> inasmuch as they have been able to generate hits. we do not spend as much time talking about the flops and there have been a few of those as well. erik: netflix down 4% in premarket. here is a story i'm eager to talk to you about.

hour, j.p. morgan chase international, jacob frenkel will join us.is just back from jackson hole. we will speak with dr. frankel about any other topics, including the ghosts of 1998. this is "bloomberg surveillance ." ♪ morning, everyone. coming up, we will take a dive into renminbi and yuan and we will look at the morgan stanley outlook. first, appreciation for the last few days. so much for the collar depreciation angle. that has not worked out. right now, the morning must-read. justin fox at bloomberg view hit the ball out of the park. this is absolute must-read. cannot say enough about it. think of reinhardt and rogoff. of the barge is with us -- elga bartsch is with us from morgan stanley. is this time different? elga: it is. it has shifted in asia and to some extent in the u.s.. is that relation of catherine mann and her trade economics of 20 years ago -- is that this function -- is that dysfunction broken? ga: instead of exports, you are seeing foreign affiliates. that is one major change. then we have a major shift in what is happening with o

j.p. morganterday said it would be possible for margins. already apple is stand out when it comes to margins. these are apple operating margins for its handsets. where talking about 28% margin last quarter. it is sort of best in class. analysts are saying this program could be good for margins, good for cash flow. revenues, number of iphones sold, etc. scarlet: thank you so much for the latest on the individual movers within the stock market. who manages the wealth of hedge fund managers themselves? they don't always put their money where they are putting their clients' money. these enclaves that often live within the manager's from are called single-family offices. they are not without controversy. mark: critics say managers should eat their own cooking. joining us now, reporter margaret collins. family offices have been around for years. your article tells us they have exploded. why? arearet: family offices businesses set up by people who have so much money that they need to hire their own staf

tokyo electric rising more than four and a half percent after j.p. morgan chase.industry rising more than 8%. the nikkei newspaper reported they might increase dividends. i want to take you through some korean movers, especially in the cosmetics industry. kpop boom is helping. overseas,gaining shipments have increased. more than 73% in south korea this year through july. despite slumping exports. also a lot of money flowing into bonds this morning. we have the aussie tenure actually gaining 10 basis points. at 2.76%. this is the biggest gain since july. the u.s. 10 year rising two basis points. back to you. rishaad: hong kong must be feeling a bit battered and bruised. the slowdown hurting the economy in china. it is a tug-of-war between beijing and washington. what we may see is a double any situation for hong kong. -- we might have to raise interest rates. rishaad: hong kong's monetary policy is not its own. reporter: exactly. we can see pressures on property prices and wages. rishaad: are we expecting any eg?nge into this p nobody outright says it will change i

j.p. morgan chase international explains why on ."omberg surveillance 0 when interest rates are zero, everyone is chasing after yield. if you're chasing after yield, you are looking at more risky. if it is more risky, risk is not always proper. people go to financial markets and send into real investments. that is why it is so important that the fed finds its way in the time to raise interest rates. mark: he served in a decade as the governor of the bank of israel and specialized in foreign exchange issues. the two biggest pension funds will vote against the bank of america proposal to let ceo brian one hand keep the california funds says that the two role should be severed. they say be of a has underperformed since mr. moynihan became chairman in 2010. hilton is hailing ridesharing to help guests reach hotels and explore cities. guess will be able to sit up -- set up automatic notification to request rides to and from the chains worldwide. the partnership launches later this month in 20 u.s. cities. betty: a judge will call the final

one energy sector got an upgrade from j.p. morgan, chevron.y are not much, but holding up better than the rest of the energy group. betty: thank you so much. julie hyman with a look at the market. look let's give you a ahead. the shares of walmart are down 25%. betty: the retail giant is hitting its suppliers with fees. how it could affect the products you see on the shelves at walmart. ♪ betty: this is the bloomberg "market day." i am betty liu. pimm: i am pimm fox. betty: walmart is known for extracting the lowest prices from suppliers. they are taking it to a new level. pimm: walmart is hitting suppliers with fees and reducing how frequently some are being paid. what can you tell us? says that this is part of a companywide review that they have been doing about how they run their business. the u.s. business is not doing well. they are trying to revive it and reclaim margins. they sent out letters to suppliers saying they would impose fees on many of them. for using at warehouse, a distribution center, to be in a store. they wanted to link w

that is where we have james lou he is the local strategist at j.p. morgan. james, thank you for being with us. just described, if you can this -- is this thought specific when it comes off in the sellout the volatility, are there macro impacts? the biggest cloud over the market is macro nature. ,n monday you had some stocks but you really need the things. it is the federal reserve. alignsk the adp number with the market report on friday. maybe this is a signal for good news. a good adp report means the market is up. i believe the market will rally. the second issue is china, they have shown some stability. but it is unlikely that they will get back to usual. all we need for stability is the third issue. that is corporate earnings in the u.s.. in 2015 it was basically a throwaway year because of the rally and commodity of global weakness. we do think that will pick up in the fourth quarter this year, and also at 22016. as of that, the equity story is a very long one. i still think the restraint in equities go through next year. >> those are three things inves

a note from analysts at j.p. morganooking at the number of home builders, mid-cap and small-cap and large cap. a variety of upgrades and downgrades. toll brothers upgraded to neutral. that is up 1.3%. i will turn to some that were downgraded. taylor morrison and the bci communities -- wci communities. thank you so much. betty: let's get a look at the top stories crossing the terminal at this hour. russia is calling on world powers to help arm the syrian army which they describe as the most effective way to take down isis. the u.s. and nato have raised concerns over russia's military buildup inside syria. the kremlin has been a longtime backer of assad. a hungarian camera woman caught on tape kicking and as they migrants scramble across the syrian border has apologized. she says she was only defending herself when she saw the crowded -- ants breakthrough betty: trump says he settled all lawsuits against nbc. the network severed ties with trump in june over his racist comments. that is a look at the top stories at this ho

j.p. morgan goldman sachs among these two alone are responsible for a 60 point drop on the s&p. these two taking away 60 points from the s&p. we get back to oil, to copper, to gold, to alix's realm here, the breakdown of commodities. crude now down a percent. -- 8%. we haven't seen a drop like this since february. this goes back since before february. doing as badly, and gold actually up a little bit. i'm hearing my producer, jamie, now telling me crude, the worst day since november. it should not be so hard to deal with. and definitely seeing airline stocks rising. murphy oil, freeport mac moran, and goldcorp here all down. andthe biggest drop here goldcorp not doing as poorly. interestingly, the gold miners aren't as much of a way to get into the underlying commodity as they used to be because people are using etf's. i'm sure alix could talk about that. i want to whip around and show you how is the beginning of the day people were going into treasuries the same way they were going into gold. do

goldman sachs follow lead of j.p. morgan and bank of america and other banks investing their -- revising their estimates lower, i think that market 4e8 up well. charles: they revised it lower from an earlier estimate. all of them are looking to 2015 number, if luke from where we are now, they are saying anywhere from a 15 to 20% year-end rally. >> i think that is right, china is not getting worse, in my opinion. oil is stabilizing. >> let's talk worse case. you talk about the other areas, in the world where the markets they did not hold. we're starting to break down certain other biotechs. and other areas, what would be your worse case? >> you know, i still believe in the worse case, not the worst but a bad case, i think that markets are going marketly lower, i think because international weakness is a problem, and here in u.s., high yield, looking at corporate debt, a lot of viewers down watch credit. we're going to have the worse quarter that we've had in high yield since 2008, the bond market is telling us that is slowing

. >> home depot, sony, target, j.p. morgan chase and other companies have been subject to major attacks, resulting in the compromise of personal information of employees and customers alike. >> officials say the u.s. has spent too much time trying to repair the damage and needs to go on the offense. >> the purely reactive defensive strategy is not ultimately i think going to change the fine mick where we are now. the dynamic we find ourselves in now i don't think is acceptable to anyone. >> u.s. officials hinted that they might target chinese hackers, who are some of the most recent cyber breaches. it's not an easy call. they're trying to protect the country. al jazeera, washington. >> thousands of people in dim bob way appear to be victim to bowl gus land borons. scams have forced many out of their homes. we have a report from the capital. >> these families thought buying land below the market price was a sure thing, but in fact, the land they built their homes on was sold by swindler, individual that is never owned the land

if we were to assume a one percentage point rice in interest rates, for j.p. morgan that would be an extra $2.8 billion in net interest in come. as we said, the ram if i cases are potentially huge. janet yellen's only been the ahead of the fed this year. if she makes the call to raises rates it will be a huge and consequential first move. >> u.s. teenage in the state of texas led away from school in handcuffs after he brought a homemade clock to class. the 14-year-old's teacher suspected him of making a hoax bomb. police said later no charges have been filed. there's been massive support for muhammed after his brief arrest. president obama invited him to the white house and mark zuckerberg that invited him to his company headquarters. >> i took this to school to show him the talent that i had, i wanted to show him. in my perspective, it didn't look like a bomb. >> we live in an age where you can't takes things like that to school. we've seen horrific things happen across our country. the reaction would have been the same regardless if a device like that is found. und

bank of america is a different story than j.p. morgan but still not expensive relative to it self-over time. i like them both. >> do we have any -- >> and citi. >> and do we have a short of the yield curve. >> there is absolutely that risk. i don't think anybody can tell you where the yield curve will go. i don't think the fed knows where it is headed so how can we say. and goal man sacks to me is overdone. if you look at the trading volatility over this quarter alone, i think they're going to have another record quarter when they report. so the move from 215 down to 175 or so, i think the subsequent val raly will hold and it will trade back to $200. >> this is my fear. you could push us into an in verted yield curve, because you don't have the 350 basis point slap between short and long. so that is a problem. but another thing is when rates rise, everyone thinks it is positive for the banks. but we saw the chart, the smart board, the materials outperform. but financials under-perform. but i found that interesting. so bank of america, wh

the best of the best, those should be on the screen, j.p. morgan, eric kolovsona and j.p. morgan. i also need to mention that past three expectation wez drew on were based on federal fund futures. right now keep in mind that the expectations for rate hike are quite low. but these past outcomes are certainly something to keep in mind if expectation dozen rise ahead of that december meeting. later we're going to take a look at what happens when the fed does hike and how to play. that back to you. >> thank you very much. let's pose the question, what is the real state of the chinese economy? many economists don't even know what the official statistics mean. can you rely on them? today there is a new report out from a respected group that says those very doubts may be well founded. that story right after this. there's no one road out there. no one surface... no one speed... no one way of driving on each and every road. but there is one car that can conquer them all. the mercedes-benz c-class. five driving modes let you customize the steering, shift points, and suspension to fit the mo

maria: good morning welcome back we are expecting lower opening for are broader averages j.p. morgannastasia amoroso with us dagen mcdowell, first in top stories 6:30 a.m. on east coast, this morning, happy monday, world leaders in new york, for the united nations general assembly this morning, president obama, set to speak at u.n. 10:30 eastern most attention to meeting with russian president vladimir putin gop front-runner donald trump to unveil tax plan later this morning, last night on 60 minutes said look to go give businesses and middle class lower taxes, but wants to raise taxes on weelt earn efrz, trump securing endorsement from leading name on wall street caller ache un is supporting trump because he knows business. >> checking markets futures to declines the open take a look we are near lows of the morning, the monetary fund is cutting its global growth forecast, that is weighing on markets across the world, dow jones industrial average down near lows of the-day decline of 100 points, incredible pictures from the sky did you catch it a rare occurrence a supermoon coinciding

remember the massive hacker, 83 million accounts at least of j.p. morgan chase? justice appeared to have a lead on the culprits. we kind of thought the chinese, but elizabeth mcdonald says-- >> yeah, a tampa guy, an alleged bitcoin, currency. early 30's, anthony mergeo, he has a colleague under possible prosecution as well. in plea deal talks he's in with the department of justice. what they found in the course of their investigation that their activities were linked to the j.p. morgan hack of 83 million accounts. what they found was-- >> at least found someone. >> this is important for the viewers, a crime ring out of russia, they're doing major stock fraud with phishing e-mails and hacking into people's systems from that. separate that that, turns out the administration, when it comes to china's hack into, no economic sanctions from the administration ahead of the china president's visit that's up and coming. you know, even though china reacted angrily saying, you know what, the u.s. dialed down, it's not us. we've got top executives of fortune 500 companies, s

in the kinds of decisions to reallocate from pimco to western asset management or blackrock or j.p. morgan asset management. matt: time to take action at twitter. in the three months since the company started searching for a new ceo, the slot -- the stock has slid and several executives have left. theboard meeting to discuss results of a search they should have done before dick costolo actually left. erik: will dorsey have shaved for this meeting? matt: i don't believe he will have shaved. the twitter board wants a fully committed ceo. basically, they do not want jack dorsey running square and twitter. just because he is young and has a silicon valley beard, he cannot run two companies? sergio runs like 18 company successfully. been also paypal. the ceo ran both his misses without a problem. erik: converging views from the world's biggest mining companies. rio tinto says it is maintaining .n outlook reaffirming its forecast that -- a week ago, bhp billiton trimmed its forecast. demand is getting tricky to call. i think blazon berg probably nailed it. difficult to figure out what is going o

and it valuation re-rating you might get her tom: david stubbs is with j.p. morganet management. thank you so much. instead back to the201k of the 401k. smaller returns. as long as your cash is not in rubles, you are all right. tom: we are never retiring here. futures at negative three. dow futures, -26. 24.s h: we will have a moment of silence numeral 8:46at a.m. ♪ ishaeldavid g:'s this "bloomberg surveillance." thousands of migrants are walking from hungary to austria. meanwhile, activists say theitions are inhumane in five cams were hungary is holding and registering refugees. human rights watch say many are being held outside wealth out food, water, or medical help. brazil's state have an oil producer is new king in the global junk bond market. billionbber us has 56 dollars of outstanding securities, making it the world's largest noninvestment grade corporate issuer -- petrobras. it has been downgraded. the movie by netflix will be screen this weekend at the toronto film festival, a drama about an african warlord appeared it could make a streaming company eligib

citigroup and j.p. morgan chase both 2% lower.ks higher on the other hand, along with the price of a metal. notable-mcmoran a exception down 6.5%. the copper, gold, and energy producer sold $1 billion in shares and planned to sell another $1 billion in stock. dolby system down 2.5%. the forecast trailed average estimates. .5% eventruments down though they raised the quarterly dividend by 12% and added $7.5 billion to the stock buyback program. arg energy up 3%, considering the sale of plants and buying back shares. the oil and gas producer selling 13 million shares. la quinta holdings down 6.5%. the chief executive unexpected we resigned yesterday. tom: david wilson, thank you. -270 on dow futures. mike: it is a fascinating time in politics as well as finance. threadbare gets to watch all of it from his position as the host atchrett baier gets to w all of it from his position as host on fox news. hoped to makeo this a donald trump-free day. the guy gets up yesterday and says barack obama is a muslim, and we have got to get rid of

j.p. morgan is taking note of the tone out of the conferences, you're not hearing management saying truly awful things about q 3 whether or not it is chip companies, luxury makers, companies like ge said steady things about guidance. is the quarter coming in better than we thought given the volatility? >> i take my queue from wells fargo. i don't think you can disagree with what fedex says. i didn't really care for the housing start number this morning. i think the economy is kind of in a bit of a plateau, we're going to hear from dafd -- david that things are plateauing. when numbers are cut, stocks go down? >> yes, we do. jim, let's get to one of the deals this morning. m&a has been crazy in the last couple days. we don't have a deal in beer, but we have it in cable. for a long time the family that has been the owner of cablevision has never actually pulled the trigger until now selling out to altice, a french company rapidly expanding in our country and other parts of the world. buy buy buy al

for more on the auto industry, j.p. morganement chief investment officer, richard, joins us. simon is still with us. richard, good morning. thanks for coming in. you hold stock in the auto industry. not vw. but explain to us you're thinking about the car stocks you own. richard: from our point of view as investors, we overcomhave the andan and chinese stocks, this is mostly a problem for the europeans. aonically, it could be benefit to the korean companies, who could gain market share. but obviously it is a problem for the whole industry. guy: when you invest in a much canike kia, how you do about the engineering integrity, the products that they produce? you could look at a whole lot of metrics of the company, but can you get down to the granularity level? richard: well, it is very difficult as an investor, if you have companies that are dishonest. that theto assume testator they publish his real. we can to go down and do independent engineering verification of test data, and i think we start, particularly in emerging markets

spring in the j.p. morgan asset manager, david stabs. great to have you on the program.e seem to have the report that china is not as bad as expected -- overall, are you feeling more optimistic? we made be accentuating certain bubbles. david: i am in the camp that the fed not moving doesn't worry me. i think we are fully aware of the risks. they pointed to some. got ak investors may be little ahead of themselves when they looked at the bubble in the chinese stock market, the devaluation of the currency, commodity prices -- put all this together and decide china was collapsing, i think that is going a bit too far. it is transforming into services and employment looks good. you can understand why janet yellen didn't hike rates. it is not an international situation -- inflation is very low in the u.s. and financial conditions have brought the currency up. and it wasn't priced in. francine: inflation is low, but they don't have to fight against inflation, because of commodities. what does it mean for the stocks that you like? glencore is at a record low. we heard that tweet

francine: portfolio manager at j.p. morgan. $8 trillion in assets.reat to have you on the program. how do you read into china? there is a lot of volatility. they are shifting. this is only a correction or something much worse. finde of the key things we is the idea china is in transition. opening up a capital account is the last step of that liberalization. it is come quicker than the market expected. -- it has come quicker than the market expected. the problems are well known and understood. the market is debating about have they gone international? are they losing control? we've said they chinese -- we boy said the chinese policymakers had the tools at their control. but we saw months ago really raise questions. facing an uptick -- francine: you think they lost control? there waiting around? >> i think the risk has increased. we saw over a month ago when they liberalized devalued. .hat did not ease conditions we saw a rates increase. that is to offset the drain of liquidity from the capital outflow. that is the thing we worry about most. the $120 b

the finance commitments come from j.p. morgan, barclays stumping up the money. take a look at what happened to shares. we did see this by cap an earlier. we know this deal had been on the cost after hours trading, spiking 17%. we will see how it fares on the open this morning. anna: thank you very much. guy: let's talk about what is next. what's next is of course the fed. u.s. markets yesterday closed in benign fashion around 8/10 of 1%, as you can see. in terms of what we are expecting today, let me give you an early indication -- this is how european stocks are expected higher,-- 4/10 of 1% the dax opening five tens of 1% higher. we are in wait and see mode. i wouldn't expect too many aggressive traits. we are trading around $50 a barrel in the oil trade. but let's talk about asia. anna: oil prices pushed energy-related companies higher in the u.s. session, and some of it is being picked up in the asian session, albeit in a federal holding pattern. let's get to shery ahn with the details. shery: we are seeing that positive sentiment here in asia. we are seeing

over the last several years, cyber attacks have become commonplace in the west -- best buy, j.p. morgan chase, and other companies, just name a few have been subject to attacks, resulting in become eyes of personal information of employees and customers alike. these are just the breaches we hear about in the news. there are others, both large and small current across the nation. the u.s. government is a certainly not immune. opm, irs, the pentagon's joint chief of staff, and just this morning, we learned the department of energy was successfully hacked hundred 59 times. these high-profile assaults are even confident in our governments ability to counter the threat. i share the public's concern. in fact, i recently learned that the very apparatus that the homeland department of security uses to share cyber threat indicators with the government, has not had a security audit since 2006. this raises serious questions about an agency that many government representatives believe should be at the heart of our cyber security strategy. i want to place the intelligence community on notice that we

over the last several years, cyber attacks have become commonplace in the west -- best buy, j.p. morganhase, and other companies, just name a few have been subject to attacks, resulting in become eyes of personal information of employees and customers alike. these are just the breaches we hear about in the news. there are others, both large and small current across the nation. the u.s. government is a certainly not immune. opm, irs, the pentagon's joint chief of staff, and just this morning, we learned the department of energy was successfully hacked hundred 59 times. these high-profile assaults are even confident in our governments ability to counter the threat. i share the public's concern. in fact, i recently learned that the very apparatus that the homeland department of security uses to share cyber threat indicators with the government, has not had a security audit since 2006. this raises serious questions about an agency that many government representatives believe should be at the heart of our cyber security strategy. i want to place the intelligence community on notice that we w

housing, j.p. morgan says home prices will rise more this year than originally or cast.%. rising demand and fewer distress cells will keep pricing moving higher. will keeped sells pricing moving higher. mark: airstrikes using jets or helicopters could be launched from their against islamic state militants. the disclosure is the latest sign russia is trying to pop up president all all a sharp -- the president's government. more than a quarter people have died in the four-year long civil war. the u.s. senate pushing toward a critical vote today on the nuclear accord with iran, with democrats in position to hand a major victory to president obama. this afternoon they are planning to put up the 41 votes or more to block the resolution with a filibuster that would prevent it from reaching a final vote, making a presidential veto unnecessary. nearly a third of republicans are supporting donald trump's presidential bid. trump is at 32%. ben carson second 19%. none of the parties 15 other numbers.s is in double cnn will air the second presidential debate next wednesday. bernie s

jamie dimon from j.p. morganments ago in an address at the detroit economic club. >> the fed has made it clear they will raise rates when america strong and strengthening. the strong and strengthening part is most important. no one i know who said 25 basis points will hurt them. it's the psychology of it. it's just not that important. whether they do it at the end of the year or not, i don't think they will do it. for the same reason i have not done it for six years, it will be a good thing when they raise rates and the economy is hotter wage inflation goes up a little bit. normalization is a good thing and central banks have been manipulating short-term rates for six years now. it will be a good sign and america has the strongest economy in the world. when they do it it will be good and i trust them to pick the exact right month. that was jamie dimon speaking at the detroit economic club. that is moderated by chuck todd of "meet the press." let'sre perspective, bring in eric economics editor and mike reagan. tha