j.p. morganrading revenues the kleins, declined, but profits as well. >> have the headlines taken their toll? unrest at uber. >> this is "daybreak asia." >> we have to talk about that disappointing data on friday out of the u.s. all eyes will be on the big china data dump in the next couple of hours, including second-quarter gdp. >> that will be key for asian markets. the cpi and retail sales numbers coming in. where is inflation? the fed is likely to continue to delay raising rates, and you saw the enthusiasm for that in the equities markets. let's pull up the boards for how we ended on friday, adding on gains, the dow of 84 points come the s&p higher by .5%, the nasdaq adding .6%. quickly come inside my bloomberg. the fed delaying rates is great for everyone else except for the havecials, which investors been anticipating a hawkish fed and want to see those margins that,sed, but without another major headwind for the financials. we will see if there will be a rebound. we are starting trading in

. >> j.p. morgannt now dropped down, my i guess is what has to do with maria if trading volume. >> trading volume slow and then frankly the investment banking ipo merge acquisition market not strong other than loan voluntarily up everything is disappointing. >> a major issue for jpm. >> germane dime says consumer looks good you have rollback in financial regulations which is a big part of the tail wind for financial entities since election. >> i don't know why any is a surprise, going into these quarterly numbers we knew volume was down in terms of volatility, and trading volume in particular was going to be down teller weighting the numbers, but when you go behind details, it was okay quarter, trading was down that as was a portion m&a down. >> look it is a testimony from janet yellen, two days ago, she is talking about being ease loose with money again potentially not so hawkish to me worries me a little bit wrpt with respect to banks you need longer term interest rates levitate the current is. >> s

dow would be higher if not for j.p. morgan and goldman sachs which are lower. j.p. morgan reporting numbers this morning, the nasdaq is on pace for its best week in two and a half months the. dow and the s&p 500 on track to post their biggest weekly gains in seven weeks check out the movers walmart and boeing are higher on upgrades gap is higher, retail stock being added to j.p. morgan's focus list and a number of well-known names hitting new all-time highs facebook, mastercard and ebay among them and we begin with j.p. morgan. that story that tyler told you about. ceo jamie dimon going off on washington during an earnings conversation call with analysts blasting the d.c. dysfunction and the impact it's having on the economy. wilfred frost is here with more. >> that's right, michelle. and here is the main part of that rant dimon referring to the excessive gridlock he sees in washington. >> since the great recession which is now eight years old we've been going at 1.5% to 2% inn spite of stupidity and political gridlock because the american business seconder is powerf

payment processing company worldpay took a luminary -- luminary approaches from j.p. morgan. j.p. hether they will did on world trade. is expanding in islands, planning 120 stores by 2020, bringing the stores to 3000. that would create 5000 jobs. at is your bloomberg business flash. anna: thank you very much. after months of talk, formal approval from the eu to receive a 5.4 billion euro capital injection from the italian government. joining us to talk about the banking sector and more beyond is karen only, european equities strategist. good to see you out there. let's talk about the banking sector because there has been a lot of news from the periphery of the eurozone. ,ver since the financial crisis lots of people were asking when these problem children of the banking sector were going to be dealt with. as we spoke to mark bell about, it seems the momentum has been building. >> yes, and i think, really good from a spanish perspective that you let the market take a hit. holdersolders, some 81 coming out of this bank credit instrument, actually suffering some pains and it happened

deutsche bank and j.p. morgano pay $148 million combined to resolve claims they liborred to fix the yen rate between 2006-2011. neither bank admitted any wrongdoing. they have paid billions in fines over the last five years to settle similar allegations. shares gaugeap cheaper than the gnostic for the first time. the price index valuation base hit on -- based on reported earnings is now cheaper than the nasdaq, the narrowest gap since 2010. inext is mostly made up of tech companies. stock exchange operator preparing to consult the market on changes to its option system ahead of the open. the option will debut monday. the exchange working on the pre-open session. the 30 minute option is currently split into a 20 minute session at 9:00 for order input, and the rest for order matching and preparation. betting on india with demands for its equity fund oil drilling to $3.5 billion in the past year. india's economy is expanding seven times the pace of japan, buoyed by a growing middle class. shares have hit records this

wells fargo j.p. morgan citigroup have all disclosed their second quarter results and all three wall street's expectations they collected more money on interest but it wasn't all good news for j.p. morgan the.

wells fargo j.p. morgan citigroup have all disclosed their second quarter results and all three beat wall street's expectations they collected more money on interest but it wasn't all good news for j.p. morgan the nation's largest bank by assets said it expected weaker net interest income falling bond yields also way down the sector its net income rose thirteen percent to seven point zero three billion dollars do you tales now in wells fargo the largest. mortgage lender in the united states said its profit edged higher in the second quarter as the bank got a boost from rising interest rates and the planned sale of its insurance service businesses its profit grew five percent to five point eight billion dollars or one dollar seven cents a share that was more than a dollar over analysts expectations and now the citi group the profit fell three percent as the banks set aside more money to cover souring loans especially its credit cards the new york based bank earned three point eight seven billion dollars or on

mark: still ahead, j.p. morganxecutive jamie dimon warning of more banking moves after the u.k. leaves the eu and we will hear from him next. this is bloomberg. ♪ mark: i am mark barton along with vonnie quinn. jpmorgan chase chief executive morgan. -- telling the community at a conference in paris that his bank among will have to move several hundred jobs on day one. quite what happens next is totally up to you and not up to britain. step, ifhave the first the eu determined he wants to move a lot more jobs out of london into the eu, they can simply dictate that. the politicians can dictate it. telling bloomberg that j.p. morgan passes eu investment bank, other services will be handled at dublin and luxembourg. for more, let's bring in bloomberg news brexit managing editor. a reset, relaunch, rebound, whatever you call it. prime minister treason may. was it seven tosh by the foreign secretary health scandal dating back decades? >> not the first time. loose lips sink prime minister of ships. declaring there is no pl

banker j.p. morgan currently involved in the energy pipelines reserve go to making a film like ocean's or in justice. well it all began when i went and visited palestine as an adult for the first time and needless to say it was it was appalling i mean you're on the ground you think you've understood everything from the books and from the soundbites and and then you go and you see with your own eyes and you see just how systematic and institutionalized and widespread the oppression actually is you see with your own eyes the sort of the illegal settlements on the hill tops and this is all within twenty two percent of historical palestine so this isn't the occupied palestinian territories i think that's often missing from the discussion so i see all this with my own eyes i'm witnessing these checkpoints and the war ploughing through and. it hits me you know this is this is this is unacceptable frankly and i come back to what i consider is my life of privilege and occasional charity and sympathy is just not

wells fargo j.p. morgan and citigroup have all disclosed their second quarter results and all three beat wall street's expectations they collected more money on interest but it wasn't all good news for j.p. morgan the nation's largest bank by assets it said it expected weaker net interest income falling bond yields also way down the sector its net income rose thirteen percent to seven point zero three billion dollars details now and wells fargo the largest mortgage lender in the united states said its profit edged higher in the second quarter as the bank got a boost from rising interest rates and the planned sale of its insurance service businesses its profit grew five percent to five point eight billion dollars or one dollar seven cents a share that was more than a dollar over analysts expectations and now the citi group the profit fell three percent as the banks set aside more money to cover souring loans especially its credit cards the new york based bank earned three point eight seven billion dollars or

u.s., 10 year yield up six basis points helping the financials with bank of america, citigroup, j.p. morgansnapping back after recent weakness on lower yields. it looks like traders are betting that yields will continue to be low. which is a change. a chart of speculative shorts on the two-year in particular. they are higher and longs are lowest. going to 20007. it is a big -- going to 2007. it is a big change, a change in sentiment regarding the 2-year note. vonnie: thank you. , a critical day for health care reform as the president and senate republican leaders pushing for a vote on repealing obamacare. the president saying this this morning, this will be a very interesting day for health care, the of structures are democrats and republicans can have a great victory for the people. lawmakers do not know what they are voting on. joining us is our chief washington correspondent kevin cirilli. is it fair to say this is looking more likely to pass and we will get something to debate. have enough votes it looks like to proceed on a vote. whether or not they will proceed for a repeal -- a full

we'll use our payment processor which is j.p. morgan. the competitive space here is quite alive and you can see that the m&a going out, they are trying to buy the new company with the notion that the e-commerce companies are kingmakers, none more so than amazon. caroline: it's interesting, we saw another deal in europe, a danish company saying it was bought by americans. what about the company having your port folio, good m&a be the exit route? to seeould like for this potential in be as big as it can be. we feel europe can build these $10 billion companies that can stand alone. they have a very large what brent -- footprint. they don't need a backer to go all the way. that has been the pitch from the get-go. that is very much what we're focusing on. johnson: that was cory and martin. facebook could be the next target for antitrust watchdogs. germany is examining whether facebook is taking advantage of its popularity by pushing users into agreements they might not understand. we discuss what is next for , -- release.lators >> privacy is

. ♪ caroline: a new note from the j.p. morganst says twitter continues to make positive product changes. that includes the interface updates rolled out in june. the also expects more engagement to translate into ad revenue growth. j.p. morgan still has a neutral rating on the stock. tech stocks ended the week on a high note in the united states. the nasdaq recovered a bit from losses last week. here for more reaction, let's bring in abigail doolittle. still with us, david kirkpatrick. take us through the u.s. moves. abigail: a pretty impressive session. we saw a nice rally for all three major averages. the nasdaq stood out. more than 1%, led by lots of big tech names, plus apple. all of these stocks have big games on the day and did not appear to be driven by anything on a mental outside of a boost in confidence and optimism, probably only better-than-expected jobs report. let's look at the group function return. up 17% safe the --up 17%. up in a big way. a solid day for technology. let's put this in the context of the pullback.

j.p. morgan chase has shown interest in buying worldpay. do not expect a bidding war as j.p. s it will not make a rival bid for worldpay. if you look at the bloomberg terminal, worldpay spiking up on the news yesterday. that it was going to be for sale, jumping up 23%. coming down today on the news. jpmorgan not putting forth a rival bid. itself coming from vantiv, not as high as some investors thought it might be . vonnie: it is a 20% premium cotton -- not terrible, it makes sense rather than jpmorgan with regulatory issues, there would be fewer of them. vantiv here is -- is here and worldpay is in britain. >> you can look at that in two ways, vantiv does not get many synergies out of this because they're looking at a company based in the u.k. the idea is that this is a bet on payments processing as an industry. chart, revenue a from payments processing is growing every year and expected to keep growing as mobile payments expecting to expand a double teaser rates through 2020. because it is a broad, you do not do -- you do not see too many synergies. in u.s. -- on the right-h

. -- j.p. morgan chase.urope, excluding the u.k., the white bars are global and the blue bars, the change after months of positive revisions. this coincides with central banks giving signs they are ready to tighten liquidity. a wonderful chart. let's check in on the bloomberg first word news. more from new york. >> president trump says china should put a heavy move on north korea and end the nonsense. that was his reaction after north korea announced it has launched its first intercontinental ballistic missile which would bring kim jong-un's 15 close to building a missile that could reach the u.s.. neither side has exhibited that offer -- a federal appeals court says extend in a cannot obama era admissions standards which could set back the donald trump demonstration plan for rolling back anti-pollution rules. the court says the epa can reconsider a rule that limits omissions from oil and gas wells that the current rule has to remain in place in the meantime. family of a the libyan man convicted of the 1988

this comes after j.p. morgan showed interest, but backed away. the u.s.redit card processor hopes to gain greater exposure to e-commerce retailers and small businesses through this acquisition. cory johnson and his partner at index ventures joined us for reaction at to deal. cory: this is a fascinating company. it is based in cincinnati, ohio. why cincinnati, ohio? what's interesting to spin off from this tells you the history of the business of payment transaction and what is happening is the way this business works, when you use your credit card in a store they , find it if you've got the money in your bank account and they approve the credit or not. there are a number of steps that happen behind the scenes. each of those steps takes a different chunk. you get the verification from the merchant and the movement of the money between the merchant and the bank and the verification, when you go through the steps, there is money taken each hard way. that's part of the way. it results in billions and billions of dollars. the movement of commerce has gone from

. >> before that he spent time at j.p. morgan. >> he spent nine years or so running this bank at j.p. morgan. under him the retail bank tripled in size. eventually he was hooked over to an equity arms for jpmorgan. he definitely has the bank culture down,things are run on wall street. -- ie we surprised by this guess -- i didn't know they were in the market for a new ceo. what you just said there, this a tech geekere is coming into an old-fashioned bank. -- does that suggest something about the future direction of the bank? >> interesting point. analyst -- investors were surprised, also by the fact that brought in someone from the outside that of hiding from their bank. surprised folks. they really understand the technology is playing a more and more in for role in the industry. i think the is a bring in andone who has focused -- hopefully is able to bring the culture and. >> maybe six shakeup little bit. keep records, track performance, london securities. they don't really break the mold necessarily. by bringing in charles chart

j.p. morgan chase's jamie dimon. he said this in an earnings call today.e better than expected. a forecast that was somewhat clouded by these same concerns about washington just not doing anything. to a fellow who has been decades ahead of this theme of washington incapable of moving. the information media editor, best selling author, steve forbes. he's on the money there. >> yes. one example. desalinization plant. took 15 years to clear the obstacles. he talked about regulations. up to $2 trillion of lending would have taken to small businesses if it wasn't for the regulation. imagine where we would have been. he's on target. >> neil: and the republicans can't get this going for reasons. i've heard other moderate senators saying valid reasons for their concern. seven or eight years of trying to get this right, you haven't. >> what they all have to realize is, you take the old cliche', rome wasn't build in a day. you won't revamp healthcare in one bill. make a good beginning and go back to it. democrats have been working on trying to socialize medicine in

mostst dow's gains for the past week have been only boeing and then today j.p. morgan target to $20. they're estimating $280 billion. >> i'm glad you brought up the analysts i'm looking at how the expectations and calibrations have changed because they missed this move. back in january the average price target was $170. and it has climbed steadily as the share price has climbed. now it's at $250, a little higher than we were now. this is the dow's best performing stock of the year, up almost 60% double of that of apple. and also -- >> this is tesla territory. >> this helped the dow manage to avoid this tech fueled slum thap we've seen over the last few trading days and it will be interesting to see if it can continue to do so with names like apple lagging behind. >> back in january the president was freshly attacking boeing and also tacked apple. >> buying opportunity. >> yeah, for all of them it seems. >> boeing is the best dow component at the moment. we'll get a t resqwk le aerhis.lomo "ua >>> good morning, everybody. i'm sue herrera. here is your update at this hou

mid-caps pulled back harder than most. , global headarri of small and mid-cap equity strategy at j.p. morgan an allocation. we are going to take some risk off the table in terms of the headline risk. this is a manifestation of what goes on in the real economy. to a still want to belong with a run like that? eduardo: that could spook some people. what take a look at history can digest. decemberok at japan 1997, it looks like the markets today. low interest rates, low yields. after 20 years, before mid-caps with the clock you had to buy. you double your money in the small mid-caps. you get no return on the topic from hundred. that chart may continue for no 20 years. manus: that is a heck of a call. this is the real economy. small to mid caps are the real economy. to what extent do you look at the european equity, small to mid caps, versus the u.k. let's start with your. we have a whole host of data. exposure to europe and the global perspective. eduardo: every year in equity investing is important to get the important stuff right. thingsar, there are two to understand. one, is not a year of re

especially if the big banks will start with their earnings next week with wells fargo, citigroup and j.p. morgane out with their earnings reports. >> thank you. >> german engineering conglomerate siemens says it has set up a task force to investigate why -- russia annexed crimea from ukraine in 2014 and the reason is subject to european union sections, preventing eu firms from providing crimea with energy technology. now for some pricey fruit, high integrates has set record prices -- high grapes have set record prices. ruby roman grapes, it took 14 years to develop this variety. producers plan to ship about 26,000 bunches of the gre before the season ends -- grapes before the season ends in late september. >> to german politics, 11 more weeks to go before people here in germany go to the polls. it is time to catch up with the latest leg of our election vote trip. we are taking a look at the big election issues ahead of september's vote. they are on a road trip visiting cities and towns across the country. this week they have been to the western city of cologne to find out how islam is changing t

j.p. morgan's chief economist joining us.bloomberg. ♪ ♪ >> from our studios in new york city, this is charlie rose. host: charlie is traveling. we begin with politics. earlier today, donald trump junior released in a mill he went that suggests into a june 2016 meeting with a kremlin connected lawyer knowing it was part of a russian government effort to eight his father's campaign. he met the attorney after he was told that she had compromising information on hillary clinton. donald trump jr. said that he released the emails and an effort into being transparent.

j.p. morgan chase, citigroup and wells fargo.mic data on retail sales, consumer prices and manufacturing. dough rising 20 points to 21,000. nasdaq up 13 to 6274. have a nice weekend. >>> the search for answers is now expanding. the investigation into a bucks county murder mystery makes its way into philadelphia. the area where detectives are zeroing in on. and last chance for deal. tell you what's in the latest version of the republican health care bill as lawmakers try to garnish support they need to pass it. >>> i'm tracking showers and thunderstorms. showers just on the way to philadelphia. won't be long. the rain will be coming down. and thunderstorms in chester county. see some flashes of lightning this morning. won't be the tend of it. heavy downpours and more strong storms possible later today. you're first alert neighborhood forecast just ahead. >>> search for answers expands. >>> rain on the way. storms moving in and their set to ruin the start of your weekend. >>> travel ban changes. the new guidelines downsizing the pr

misled clients. -- fcc and j.p. morgan declined to comment.bloomberg business flash. let's turn our attention to the brexit story. the u.k. foreign secretary has promised efforts will be made to minimize impacts on japanese companies. for scott's and is in tokyo to work on strengthening relations. the comments were encouraging. under the pound has been pressure this week after a second round of the top being held in muscles. they ended yesterday with the use chief negotiator telling the u.k. to come back next month with more details. is the chief currency strategist at bny mellon. it is round two. nobody expected anything prophetic. we are charging over the irish order. -- irish border. saying we want our money back, channeling margaret thatcher. there is no agreement for citizenship for european nationals yet. your assessment of where we are. would you expect anything more? simon: it would have been nice if the message had been more positive. is, the clock is ticking. didn't -- there didn't seem -- the fact that there seems to be substantive

j.p. morgan chase released the earnings report beating analyst 's expectations by $.25 a share.t was one of 30 banks to pass the federal reserve stress test back in june. investors will shift focus to other companies midyear reports. a host of which will be announced next week. this time not to take a look at other business news that is making headlines around the world. -- it is time to take a look at other businesses. the location of a new post rex it european branch. airhe airline must have an operator ticket. it would be called easyjet europe and be based in vienna. released today suggest that european car sales are slowing. inustrywide registrations june increased 2.1% from 2016, making it the strongest june since 2007. the growth still lags behind the and there are, concerns it could be hitting a plateau. clashes broke out between police and former employers of a former pepsico plant in our -- in argentina on sunday. the laid off workers had been occupying the plant since it was closed on june 20. more than 500 people lost their jobs. logisticscided that were shutting down

so we'll see if that relationship comes back into tune the way it's been >> j.p. morgann the nas 100 says they see consolidation where 6,000 once again becomes resistance that would take you back to levels we saw months ago, right? >> nasdaq 100 is incredibly concentrated top heavy index it is the closest major index to f.a.n.g. that's what we're talking about when you say you look for an extended group looking to pull back >> let's talk about it more and bring in some guests on the topic. we're heading into the end of the trading month. so let's talk about this overall market pullback that we've seen in the last two days the busiest earnings week of the year for more, joined by ray monld james head of fixed income and matt jones, j.p. morgan. i feel like i'm on "fast money" where they play the game, would you rather financials or technology do you think this keeps up >> we think both can outperform. technology, funneldamentals aren place. and we think that, you know this is a group that can continue to see earnings move higher if you look at it, there is noise aren't qu

rldpay shot up 28% in london as it confirmed it was fielding takeover bids from j.p. morganhase and -- moving on to some other business headlines. the european union has given former all approval -- given formal approval to bail out monte dei paschi. they gave the green light for nearly 5.5 billion euros in state funds. monte dei paschi is committed to a five-year restructuring plan. there has been concern in recent months. qatar plans to increase its production of liquefied natural gas by 30%. the small gulf state is the world's foremost producer of lng. raise to 100 million . sellingen will start cars in iran for the first time in 17 years. they signed a contract with local importers to sell two models at dealerships in the tehran area. iran is seen as a major opportunity for manufacturers struggling with stalling growth in europe and china. most international sanctions were lifted last year. uber is facing another legal roadblock. an advisor to europe's top court has said that eu member states can bring charges against uber executives for running an illegal taxi service.

j.p. morgan, citi, wells fargo, they have recouped the losses.uropean banks ending in negative territory keep in mind, europe's banks are still outperforming the broader market with an 11% gain compared with a 7% rise for the stock 600 as rates rise. margins have been picking up in europe plus, we've been seeing more m & a. that helps the european banking story. european bonds have been receiving a little bit of buying check out the currency this is so interesting now at the highs of the year at 114 against the u.s. dollar. let's also talk about foreign policy president trump is on his way back to the united states after visiting france and meeting with the country's president macron the upbeat tone and ability to some some of their difference as side caught many by surprise hours ago trump tweeted he had great conversations with macron on trade, military and security. macron said trump's presence alt his side is a sign of an enduring friendship between the united states and france carl, the two leaders engaged in a long hand shake as we've seen

. >> i think look at j.p. morgan if financials finish up it will be good. >> bank of america, merrill, upside call buying, this outperforms after earnings. >> contrarian idea, at&t i think it's an industry ripe for consolidation, big dividend, out of favor. >> tom lee, thank you, gentlemen all, have a great weekend. thank you for watching half time don't go anywhere because "power lunch" begins right now. >> we will see you in just a few minutes, welcome, i'm tyler mathisen here is what's on the then you jamie dimon uncensored j.p. morgan's ceo going off on what's wrong in d.c., the media and went so far as to say being an american abroad is "almost an embarrassment. dimon, like you've never heard him straight before. and plus while everyone's screaming that social security is going to collapse in 17 years we el l hear from one expert who says this is a "phony crisis

worst than j.p. morgan, twice as steep as bank of america and more than double the fall at city. united health group posted a beat on earnings and raised outlook if for the rest of the year. unit united's health is almost nonexistent in the affordable care act which is holding down revenue, but also holding down cost. also serving to shield unh from ongoing uncertainty in washington that we gist talked about. unh is seeing growth as a health care provider. pharmacy benefit management growth in on tum health services group with earnings of 21% to $1.5 billion. johnson and johnson also beat earnings forecast and it too is raising the bar on sales and profit expectations for the rest of the year at the world's largest health product company. even as competition dented sales, last month, johnson and johnson closed on biggest deal ever. provide a sales boost during the second half of the year. for nightly business report, i'm dominic chew. >>> ibm's revenue fell for 21st straight quarter. not a strend they wanted to see continue. saw growth in higher margin businesses including cloud

. ♪ david: equity markets across -- head of japan equities research at j.p. morgantation. -- chgase. growth, momentum has slowly come back. there is a missing piece. the one answer we have not discussed is productivity. seen a significant increase in the hours worked for the overall workforce. the key is a nation is rising productivity. the labor market is tight. the question is, are we at full employment? if you have made this argument six months back? what are your thoughts on that? in the u.s., particularly, labor force participation shrinks. unemployment is not nearly as bad as it looks. the two statistics we are andsed on our productivity labor force participation rates. david: whether it is korea or india, it doesn't look very expensive. >> we see them as under held. we are seeing a growth premium. if we are in a progrowth environment, that is positive for growth. all of which creates an ideal market. haidi: ironically, this makes it easier for central banks to move forward. does that mean you see setting up for a soft landing? it is a great question. it does

j.p. morgan trading revenues the kleins, declined, but profits as well. >>

all banks were down friday, j.p. morganearnings were at a record pace. earned $26.5 billion in profit in the last 12 months. it increase loans to customers double what analysts anticipated. the takeaway is whether the bond rebound is that risk of stalling out your the cfo did lower expectations for trading revenue going forward citing muted volatility. , they are closing in on j.p. morgan chase in the bond trading revenue and investment banking. results were the strongest in seven years. operations helped clients merge with rivals and raised money by selling stocks and bonds, and that in boosted investment banking. .rading revenue slipped 6% wells fargo in the spotlight as it announces its cost-cutting in the wake of its bank account scandal. the ceo also saying they are doing ok and like many banks they are keeping and i on washington. >> for the largest banks, including ours, that enjoy the globally important status, there is not an expectation the regulation looks different in the near our medium-term future. it is the w

j.p. morgan chase on cyber security. up from 250 million in 2014.they said cyber crime by definition is the greatest threat to every industry, over company in the world. the global cost was at least $375 million. it could balloon to 2 trillion. in the u.s. it's .64%. cyber crime accounts for as much as 1.5% of the gdp. back to all of those internet connected things. love the idea of sitting back and relaxing while your self-driving car tykes you on your next appointment security researchers hacked demonstrating a software many new cars have they were able to hijack the braking systems forcing the jeep to drive into a ditch. the demonstration was able to show that the potential exists for hackers or terrorists to remotely disable brakes, lock doors and steer passengers right off of a cliff. a monster waiting to take advantage of a broken line of code or missing software patch. question will be back in a moment with bill who was once the largest foreign investor in russia. he is at the center of the storm with the lawyer that met with donald trump jr.

of j.p. morgan apologizing to the world for the stupidity of america the stupidity of politicians in washington and for once i agree with jamie diamond on this this is a very stupid policy it's like america committing economic suicide it's similar to bragg's it in a lot of ways breaks it is economic suicide for great britain this type of sanctions imposition is economic suicide for america because they're pushing germany into the arms of russia and germany is the centerpiece of nato and they will disintegrate and america's hope to control ukraine with genetically modified seeds which of course russia is vietnam lee against it is going to go up in smoke this is stupid it the policy of morons why because the deep state in america wants to keep feathering their nests by warring all over the world killing innocent civilians dollars trump hopefully will stand up to this veto this ridiculous stupid initiative and we can talk about something a little bit more constructive and this is the last gasp of the n

and our guest from j.p. morgan chase. this is a significant development but also traders are now starting to take note. >> yes. if you look back historically at these events, dollar-yen tends to drop. wherepretty much back to it was and everybody forgets about it and moves on. as we have been hearing, this looks like it is something a lot more significant. and there is, therefore, a much greater risk the markets will pay more attention to this and it could have legs in terms of bringing some risk aversion to the markets. aversion that could actually stay, that could last? a newfound trend were markets have to sit up and take notice or what will it be a short-lived event? seen we get a knee-jerk reaction and then the dust settles and people come down and look at the bigger fundamental on the global back-check. john, it isrom independence day, it is light trading. all of that needs to be taken into account. francine: what will be the main message of g=-20? >> this was going to be a very fractious g-20. deep divisions over t

j.p. morgan offer and it would make one of the biggest moves by the bank since the financial crisis. there up more than 51 percent in the last year. cord cutters cutting into the lucrative t-ball -- cable tv business. the freeform are suffering from lower ratings. and both had lost 4 million subscribers in the last three years. the shares are up about 3% year-to-date. in my not had that familiar fingerprint sensor on the new iphone. apple was planning to abandon that. in favor of facial recognition. it can verify payments and unlock the phone but it would be facial recognition. i guess will find out then. okay let's stay in technology. a trading glitch. the pricing of some of the biggest the problem briefly caused apple stock to tumble 14%. the wrong price caused him as onto plunge by 87 percent. no actual trades were affected. some of the vendors say the issues were nasdaq's fault. and then finally let's take a look at this video. two police officers in north carolina responded to a noise compla

in many ways well let's talk about jamie dimon for a second over there j.p. morgan you know he said recently he's a shame to be american. because the current administration and what's going on in america you're a world traveler he says when he travels this is a sentiment people have is this a common theme out there what do you think of his comments we love the bass jamie on the show because we think he's a charlatan and a crowd that's i don't know if i would tell you that everywhere i go people are very perplexed i've told you that america is pushing the chinese and the russians together and pushing the iranians and the chinese together everybody sits and says what are they doing why are they hurting themselves washington may not know they're already and so but everybody sees what's happening what's going on and everybody's perplexed i'm perplexed and i'm an american i don't particularly like you they're pushing the russians and the chinese and the persians together that's not going to help us that's going to hurt us and recently mr trump threw missiles at syria peo

spent the most in at least nine years on rewards last to competeit tries with likes sapphire from j.p. morgan. ofewhere, we're seeing a bit weakness in technology here. qualcomm, which was out with he numbers. that company forecasting that sales in its licensing division drop as much as 47% in the current quarter. will drag down revenue by 13%.ch as software those earnings beat estimates. areanies solid results likely not enough because of how it's done this year. expectations. he points out that second blower was slightly estimates. as we look at earnings and try to decipher whether ventilations are too high. going to buy stocks, what will you buy? take a look at the bloomberg here. got a chart comparing evaluations. here you have it. the s&p 500g at forward price earnings ratio here in white. which has been climbing. around 19. which is relatively high. the bondparing with equity earnings yield ratio. something some financial analyst look at to valuesout where bond versus stock. look like it is over valued. to putlooking at where your money, bonds versus stock. by this one measure, stocks n