silver we got people around the world over because we knew j.p. morgan was short solver and if enough people took delivery of solver it would bankrupt j.p. morgan and put jamie dimon on the street what happened when the price went from $15.00. 50 went to this incredible high based on cars a report and press j.p. morgan buy silver was that the regulators in the comebacks allowed for an expansion of the counterfeiting beyond even the extreme that they were allowing at that sign and they bang the market down with hundreds of thousands millions of tons of counterfeit it's nowhere life master says the architect of the silver manipulation ended up leaving j.p. morgan because used to dirty to stay at the bank and so much of a liability she ended up going to london and starting a big company or a crypto company that has sense basically gone out of business but she was sacrificed a sacrificial lamb and that was the collateral damage of j.p. morgan crash over so i mean that difference between these precious metals on these bankers and how they're they they do mani

the sacrificial lamb and that was the collateral damage of j.p. morgan crash over so i mean that difference between these precious metals on these bankers and how they're they they do manipulate the price they they do comverse in chat rooms like telegram groups amongst themselves they openly admit to each other that they're manipulating the price but at least like if you go to an exchange like me to see that it's now been closed down by the f.b.i. that was a big change but there's other exchanges now they have introduced the troll box and it sounds like exactly what the troll box used to do is like people be like huge whale coming in and dumping a whole bunch of this like mine and that would cause the markets to crash so it's like trying to transparent but this was that they were. you know these bankers have like way more it's asymmetric information that they're they're basically doing this to your pension fund they're scooping pennies from your pension fund every single time they do one of these fraudulent trades they only had to pay $25000000.00 no jai

wall street's biggest banks reported solid results for the 1st quarter of the year both j.p. morgan chase and goldman sachs but profits in the 1st 3 months but some of the results disappointed investors and they underline the uncertainties there looming over wall street. the growth of the u.s. economy continues to confound expectations on tuesday some of the country's biggest banks reported mostly strong 2nd quarter results covering the period from april to june j.p. morgan chase by total assets the biggest bank in the u.s. unveiled better than expected quarterly earnings although other indicators on central investors its rival goldman sachs saw a dip in its profits but they still exceeded analysts expectations. goldman sachs results were boosted by strong growth and its equities and lending divisions of the revenue slipped by 2 percent year on year. net income also declined even though the bank still posted solid profits of $2200000000.00 for the 3 month period j.p. morgan chase said revenue in its retail bank division surged by 11 percent but investors were concerned about slower

okay j.p. morgan thinks they may have over paid.me day deutsche bank argued they were likely to pull back because they expected guidance to be disappointing when the company reports in a couple weeks later that same day, wells fargo downgraded from out performing the market again and expect the forecast and bank of america hits with another downgrade saying quote, they see limited room for either multiple expansion or upward earnings revisions in 2019, 2020. it's all about slower global growth and economic uncertainty. then, two days ago, keybanc to sect sector, about a whole and finally, yesterday we should have gotten what would be goldman sachs taking park er to sell will you look at that? there is substantive reason to be worried i'm not going to deny that when you look at the disappoint point from last night in equipment were down 6% parker is the machinery maker that gets hit when the economy slows down and recovers more quickly when we recover. the interesting thing is not that analysts are concerned but the stock market isn'

we just got through the c car events j.p. morgan.y almost flunked the first round trying to be more aggressive j.p. morgan has underperformed the group over the last couple months to me, this is the best of breed. if i was going to be playing xlf i'd probably doing it with a spread on the j.p. morgan long i kind of like the banks here. i think they've been much maligned, great valuations relative to their own history. they've underperformed the s&p by 2% in the last year >> we were talking about the brokers versus the banks if hundryou had to choose that choice >> i love being on oa on a friday afternoon i love carter stole the mantle from you >> i know. >> and i'd love to answer that if i could, would you rather back, i'd rather a blackstone rather than a money, so if ima he looking at the components of the xlf i'd like to break it down in a lower rate environment, blackstone's been a monster. >> a new high the other day this week >> mike, i know you have until august for this trade, but in terms of the financials, usually you've go

j.p. morgan chase, morgan stanley goldman, citigroup knowing all the banks will be focusing.asked about -- they will be asked about weeks trading revenue, macro issues and rate hikes. take a look in the bloomberg. tied to ratence hikes, that is coming to an end as this fed takes the punch bowl away. we will see 25 basis point cut in july at the end of the month. morgan stanley predicting twice that. let's take a closer look at what we are expecting with those. let's but with citigroup later monday. -- let's start with citigroup later monday. su: the focus is there international business which is key and in asia, how they are doing, will they be able to rein in expenses, which is expected across the board? report.expected to we have got goldman sachs and j.p. morgan on the 16th, similar issues for them. for goldman, they have been able to survive the 1mdb scandal. that,test have to stay on -- the bank has signaled it will increase its dividend and j.p. morgan chase is expected to deliver $28.8 billion in revenue. stay tuned. tuned areall stay plenty to watch for on the earning

we got through the c car j.p. morganimpressed they almost flunked the first round as a function of trying to be more aggressive in terms of dividend pay out j.p. morgan has under performed the last couple of months. to me this is the best of breed. if i was going to be playing xlf here, i would be doing it on a spread with j.p. morgan long and short xlf. i like the banks here. they've been much maligned with increased pay outs, great valuations relative to their own history. and i think they've under performed the s&p 2% the last year >> you and i were talking about two shows ago, the brokers, if you had to choose that choice or would you rather goldman and morgan stanley versus a money center bank. >> there's so much i love. i love carter stole them, would you rather at me >> i don't know what the heck is going on >> i'd love to answer that ultimately, would you rather back, i'd wrarather a blackston. if i'm looking at the components of xlf, i'd like to break it down one of the private equity firms, seeing more exits, b

ubs and j.p. morganked about how that is going toward land projects rather than infrastructure which would have more of a multiplier effect on the economy. do you think the money they are pumping into the economy is being utilized the right way to sustain growth? >> that is a tough question. do not trackmorgan what corporate's are doing. even though the top line results looked better, unlike the first quarter, you did not see investment jump. optimistics more coming from a bad fourth quarter. second quarter, firms are still cautious. they see the trade war. this is a cautious time. that said, things are better than people think. caroline: taylor, earlier you were showing u.s. companies we should be looking out for in earnings season that have been in the middle of the trade war. visit seen some numbers might not be as bad as we expect? taylor: a lot of strategists said the resolution of the g20 did not come soon enough. a lot of the bad numbers will be baked into q2. there was not enough of a boost to re

j.p. morgan, you know, we will see next week. we will get all three, j.p. of america and citi i think the risk/reward is pretty good. >> listen, they set up great eric is going to tell us how good they look carter was on goldman. what looks bad is carey. >> the worst chart ever. >> atrocious they're not confirming the positive price action. >> we are talking a little bit, maybe apples and oranges in that the kre is made up of other things. >> and the xlf top holding is buffet's berkshire so, you know, whatever okay >> pete, i heard you talking on the halftime report about banks and how they haven't really responded to -- >> right, disappointing would be the greatest words i can come up with in terms of the banks. >> exactly. >> i have owned a lot of different banks. right now only in two, bank of america and citi i bought citi the other day in front of earnings. i think the negative tone we seem to get for the banks has been so persistent it almost feels like a situation where we're in position that whatever they say will be better than whatever the terribl

. ♪ ♪ see how investing with a j.p. morgan advisor can help you.our local chase branch. . >>> some people living north of marin avenue and west of bridge way took part in emergency evacuation criminal. residents received a reverse 911 alert. several emergency response organizations were set up to explain how they help during emergencies and residents can protect themselves. >> it's important for the residents over the last couple years we've seen communities in california destroyed by wildfire, evacuations are necessary, it's important for folks that live here to gain the muscle memory when the need arises to evacuate. >> the event touched on how to different disasters. the drill 10:00 a.m. and wrapped up around 2:00. >>> police dogs took the spotlight in vallejo. there was a k-9 trial and competition. >> which one of the four-legged crime fighters is the top dog. the western states police association trial. dozens of law enforcement agencies took part in the event. >> today is the dog and the handler. >> the stockton police officer and ed web with

. ♪ ♪ see how investing with a j.p. morgan advisor can help you.our local chase branch. >> announcer: now news to build a better bay area from abc7. >> made in the shade as temperatures soared to nearly 100 degrees in the east bay. people trying to find heat relief anywhere they can find it. we do want to take a live look outside right away. this is our east bay hills camera showing mt. diablo. the tri-valley saw some temperatures spike up to 100 degrees or more. so will we deal with this heat tomorrow? abc7 news meteorologist drew tuma is up on the roof with an answer. hey, drew. >> hi, dion. another hot day this week, both yesterday and today, 10 to 15 degrees above where we should be in spots. temperatures right now 99 in brentwood. it's 87 in santa rosa. 90, though, in fremont. it is very warm in the east bay. 70 in san mateo. and san jose right now at 84 degrees. we still have that heat advisory in effect, this lasting through 11:00 tonight. again for those areas shaded in orange where heat exhaustion can occur thanks to the prolonged warm tem

morgan chase that is a 24 percent interest rate they are paying to j.p. morgan chase or their savings account net of that is probably getting a quarter of a percent so 1st of all take that money out put it in banks like aspiration or somewhere on line where you can only get 2 point one percent at least get something beyond what the private banks are doing and show that shift show that sort of economic shift also away from companies who've been such great recipients of this free money and the sort of like you know financial crack from the central banks and again just so you remember we are on summer solutions where the location of malibu you have a target plane just flying right overhead i know like our engineers like to us to tell everybody that's why you hear a noise but let's again central banks now rig the world there's collusion how central bankers rig the world but it also comes from politicians politicians themselves have abdicated the responsibility get granted to them in our constitution for example we elect. congress people senators and the president in

and blair that was actually what happened was j.p. morgan and the consortium of other banks didn't fact prop up the whole iraqi economy to the tune of about 2 and a half 1000000000 not 20000000000 other bit nervous that day then 6 months after he left office blair sammy signed by j.p. morgan for $5000000.00 every year i was just trying to enlighten the public that there was corruption involved and not just bad decision making i'd like to find out how this. managed to access the call there must be a back door in because they don't want to tear time and there was a court room directly underneath the court room the player was in and it was left on not so i went through that run up 2 floors by the fire escape and then to the door of the court itself by this time my heart was pounding like a really going mad and i actually lost my courage for the moment i went and sat down in a low in a bathroom i found an gents toilet there i did that she rang my mother and said listen i'm here in washington do you think i should still go when my mom said you're

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. ♪ ♪ see how investing with a j.p. morgan advisor can help you.our local chase branch. >>> you have seen the fissures in the ground. now we're going to have before and after from space. a greek seismologist put these images together. this is the mohove desert shifting between three and 15 feet. in this one, you can see a dark stain developing. that's a liquid leaking from a pipeline that broke. these images are stark evidence of what happens when two gigantic tectonic plates slide against each other. coming up, i'll be back with the accuweather forecast. ew 11:00, flames shooting into the air. an officer risking his life trying to get a man out of a car that looks ready to explode at any moment. all of this caught on camera. amanda del castillo is live from fremont police headquarters with details. amanda? >> reporter: larry, the officer first joined the police department about two years ago. but before that, he spent ten years as a professional mma fighter. skills that came in handy saturday night. fremont resident beth comey captured this scene.

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it was a phone call between jay people who've been in blair that is actually what happened was j.p. morgan and the consortium of other banks didn't fact prop up the whole iraqi economy to the tune of about 2 and a half 1000000000 not 20000000000 other bit nervous that day then 6 months after he left office blair sammy signed by j.p. morgan for $5000000.00 every year i was just trying to enlighten the public that there was corruption involved and not just bad decision making i'd like to find out how this. is to access the coolant there must be a back door in because they don't want to tear time and there was a court room directly underneath the court room the player was in and it was left on not so i went through that run up to floors by the fire escape and then to the door of the court itself by this time my heart was pounding like i'm really going mad and i actually lost my courage for the moment i went and sat down in a low in a bar for my family gents toilet that i didn't see ring my mother and said listen i'm here in washington do you think i should still go when my mom said you're gon

j.p. morgan cut its net income forecast as revenue from stocks trading and investment banking both fell more than expected while wells fargo posted its smallest income since 2016. goldman sachs bought the wall street trend with an unexpected revenue jumped. let's bring in our guest. bright side. goldman sachs, how did they do? >> their equity division crushed it this time around. the ceo talked it up on a call with analysts. he said equities were really strong across the board and that carried the franchise. trading was not as good, but still, equities managed to carry the banner so that kicked off a very busy day across all banks. a bit of a whirlwind. paul: goldman sachs, as you say, the standout on wall street. mainstream banks did not fare so well. can they blame the fed? lananh: yes. the interest rate outlooks are really starting to pinch the banks and they are starting to talk about the rate cut in environments ads potentially affecting their outlook going forward, so that interest income i

the so called healthy j.p. morgan its capital is only about 8 or 9 percent that is to say assets minus liabilities what's left is that 8 or 9 percent it's 92 percent leverage whereas deutsche bank it's it's down there at about 4 percent meaning 96 percent of its of its assets are paid with borrowed funds and what are those assets as you pointed out before they claim a certain book value but maybe not as with bear stearns when they had to mark to market they found themselves essentially insolvent finally. back in the other big banks have grown very fond of gambling 90 percent of the gambling takes place within the banks themselves so it's not necessarily wall street versus main street 90 percent of his wall street versus wall street derivatives are all bets somebody when somebody loses guess who the loser has been deutsche bank and i mean there isn't really a nasty word i mean we tran like it by direct was actually a really common instrument and banks as you mention use it all the time the danger is when they present a

of banks that warned on second quarter so it is in the market right now i will mention one thing j.p. morgan, we had a chartist talking about the potential for a breakout 120 is a massive level for this thing. i believe if it were to meaningfully break out on earnings better than expected, it may take a lot of the banks with it. i want to make one point if you go back to january 2018 when we had the all-time high, the ramp into q4 reporting season of 2017, what happened in february we flushed after that. then we got back we made a new high in october. you know what that was that was q3 reporting season what did we do we flushed last october, for a new high this past april, what did we have in may? we had a horrible may. it came right after q1 earnings season here we are, up 10%. we make new highs everyday and now people are discounting everything and complacent. i'm saying -- >> but it is about the fed we learned this week it is about the fed, but to tim's point about net interest margins that accounts for 50% of these bulge bracket banks' revenue i think you will make it up. you have ipo th

davies investment banking division has been among the largest in the world comparable to goldman j.p. morgan and they have led book writers in notable i.p.o.'s such as go daddy and aston martin and ali baba and more but today with the stock trading at $7.00 per share that is down 95 percent from its peak in 2007 the lowest it's ever been in his 150 year history the bee is in an irreversible death spiral and this restructuring is too little too late now this was an interesting quote from miles edwards yesterday. actually view it interesting a lot more like a bear stearns and a lehman because on. it's nothing growth they still have some call ability. some really terrible decisions which are scaring off institutional and hedge funds . so now let's take a look at some of these bad decisions in october of 2015 davey and now it's a restructuring after being hit by a record fine for $2500000000.00 for the library scandal they then record a record loss of 6800000000 for 2015 and then the ex cel soran tells everybody that the company is rock solid in 2016 in march davy disclosed the notional value of

j.p. morgan chase does. it signed a five-year contract with aia marketing company to use its machine learning - ai company. the deal follows a pilot program where j.p. morgan sides, through rates on ads jump 450% with the robot creative's leading the way. global news 24 hours a day and @tictoc on twitter, powered by more than 2700 journalists and analysts in over 120 countries. this is bloomberg. ♪ paul: chinese tech giant huawei has reported a dramatic slowdown as it deals with the u.s. blacklist. we spoke exclusively with the chairman in what was his first ever television interview in shenzhen. tom? a couple of top lines from the interview with the chairman of huawei is that growth is expected to continue for the company in 2019 to top the growth we signed 20. despite the bad, despite the blacklist, despite the damp and by the u.s.. as you say, if you lift up the hood on these earning numbers and you see the problems arising , particular after that blacklist was put into place, so for the first quarter of

j.p. morgan chase is expanding artificial intelligence. in machine invest learning units. j.p. eady deployed ai and machine learning. a twist in the power plays that have transfixed. there has been speculation that rivalsbeen in talks with such as julius baer. another indication of the competition of swiss managers to keep their best private bankers. time for smart charts with abigail doolittle. starting with the s&p 500. yet another record high. abigail: yesterday, all-time high. today, a record closing high. other asset classes. katie stockton, thank you for joining. you have a list view. talk to us about whether or not you think this breakout will continue and where you think it may be going. katie: they removed resistance from the chart, so that is a good thing. reflect positive momentum. the last major breakout was 2016. proceeding that, we had a trading range characterized by downside volatility. you saw a nice followthrough in 2017. it entered the consolidation phase, now advancing to all-time highs. the breadth, meaning we are seeing good participation on the rally. it d

and that's the business it's now getting out of now compare that to other big investment banks j.p. morgan earned 6200000000 euros in equity sales goldman sachs 6800000000 and morgan stanley 7.9 in other words deutsch was pretty far behind now wants to focus on managing financial transactions for its big corporate clients especially german ones and that's the global transaction banking you see there and unions back home welcome the move because it means more job security for them in fact the head of germany's the union chief called it the right direction. so german employees breathe a sigh of relief but can do it your bank thrive again by focusing on the domestic market now for more on that let's talk with our financial correspondent in new york jose luis de haro jose could have you with us do investors really believe that this restructuring plan from georgia can actually work. time will tell stephen but some investors are indeed referring to a plan as too ambitious and too optimistic according to analysts it's important to have in mind some of the challenges ahead for the plan to be succe

j.p. morganured finance, they are one of the top. david: citi says it is hiring come of it j.p. morgan very quietly had some traders leave. i am just wondering if you are a bank, you are thinking that now is the time to lay off some folks because no one will notice. sonali: in the j.p. morgan story, it is equities as well. those jobs in particular are having a hard time. j.p. morgan is coming at this from a place of strength, not like deutsche bank, where it is a position of weakness. business that is highly electronic nowadays, where fixed income requires still a lot of heads. alix: so who you wind up hiring is still the point, too. one of the stories that percolated in social media over the last 24 hours with deutsche bank as the amazing what about the tailors going in with bags of clothes. it happened to be a bitcoin bag, but it wasn't actually filled with bitcoin. upy are going into suit executives and everyone else is getting fired. sonali: speaking of bitcoin, i don't know if you follow the

even if the environment becomes more uncertain and we heard that from j.p. morganoldman sachs. we hold it from wells fargo where they said they will have higher risk costs. morgan stanley basically said they are going to continue with their current cost program. they don't think things are so drastic that they need to implement more measures. there are a couple of banks in the fourth quarter, when things were difficult that said we need to take some more aggressive measures. one of those is citigroup. another would be a global peer at ubs saying the same thing. we'll see the benefit of that in the second half. broadly, i would say they have bigger cost programs and they continue to execute on those. caroline: allison williams with bloomberg intelligence. we thank you for bloomberg opinion. a quick check on the headlines. toys "r" us will open to stores in the holiday season. one will be in houston. beall goes well, that could 10 stores by the end of next year. the company had more than 700 stores in the u.s. in 2017. philip morris has its biggest gain in many years

when it comes to high-yield, very much like j.p. morganople to be very careful. paying a lot of attention to maturity of your high-yield book. we have good visibility on cash flow. when it comes to credit, we think that the premium is very low. we think it is an asset class that can have bumpy liquidity, when risks need to be shuffled from one balance sheet to another. we are relatively cautious and prefer the securitized area, like nonagency mortgages, or even agency mortgages for that matter, where we feel the risk meme is relatively fair. back --, let's come this is bloomberg. good morning. ♪ >> you just don't get security by praying for it. you must invest. you must do what is necessary. and the europeans need to take the necessary action. the united states has basically in my view shot at else in the foot by withdrawing from this agreement. we certainly have the ability to do it but we certainly don't want to do it because the strait of hormuz is a pipeline. it needs to be secured. we play a major role in securing it but it has to be

. ♪ ♪ see how investing with a j.p. morgan advisor can help you. visit your local chase branch.ravis in it made it. there's two of them. they're multiplying. no, guys, its me. see, i'm real. i'm real! he thinks he's real. geico. over 75 years of savings and service. >>> dozens of families buying for a home of their own. jesse gary tells us about a new program the paris low income buyers with affordable housing. >> reporter: a prime piece of free so state inside ofone bath garnering attention. it comes with a view. a view of the ikea parking lot. what is churning has is the asking price. comparable units are selling for the high six figures that this is $177,000. >> it is part of our cities rate program. >> the east palo alto below market rate ownership program or bmr peers buyers making up to 60% of the area median income with affordable housing. this condo had 101 interested parties. a lottery. the list down to 60. they are looking to own. >> i am surprised there were not 1000. our intention is for it to go to a member of the community. people who live here and work here. >> th