j.p. morgan goldman sachs and morgan stanley have seen their stocks pop about 25 percent over the course of just the past few weeks so it seems the focus is shifting tech a lot had a great month the past month but the financial stocks have so it seems that subtraction things are going but i think you're absolutely right we should be very concerned about asset price bubbles it seems that the monetary injections the fed has engineered have simply driven lots of asset prices through the roof and if that were to be removed as stimulus the markets are going to have to come back down there's no 2 ways about it right here which i are on stimulus that's been carrying the markets the difference between now and the economy for the last couple of months christine despite the equities markets today when it's market is experiencing somewhat of a boom when it's about bond issuance soared it to the highest level that we've seen in a decade what's going on there. well right now coach it is to be blamed for a lot of it at that has depleted the local governments resources and budget and also you have the per

j.p. morgan goldman sachs which suggested that this week's trading frenzy has put a strain on the company and even outside of equities too it's having trouble keeping up with the cryptocurrency trading demands on friday robin hood is now also restricting trading announcing that it's temporary turn off instead of buying power for crypto so customers can still use settled sponsored by crypto but accounts have become restricted after dosha points i get as much as 800 percent on friday so some points and bequests are also being restricted i like ben mentioned this is tremendous because it's opportunity lost for retail investors. robin hood did impose more restrictions on these securities this friday than how is robin hood going to shake out after all of this. ok so a couple predictions for you number one i absolutely believe robin hood is done i mean as far as retail investors why would why would anyone even go there why would you use this platform ever again it's already proven itself to be a complete set up for wall street but there's also been a couple of articles that have come out in the

j.p. morgan or goldman sachs and the like but also from business as home from trade groups and from unions to facebook to exit he actually decided that they will not allow to donald trump to post anything on facebook for the reminder of his terms of what is a little less than 2 weeks so what we're hearing quite a bit is that it's important to protect democracy you already mentioned that it's also important to make sure that there is this moose transition of power and then some of the business leaders also are calling for americans to come together having that said it's also interesting to see on the other side i mean big business has not always been on sync with the style of the current administration but on the other side they clearly took a profit from some of the policies like less regulation or also a lower texas but now as they fear that democracy is on the line and so finally they obviously decided to speak out. by facebook there now what's been easy to miss in the last 24 hours is the democrats actually received confirmation that they do have the senate majority that's big news for

j.p. morgan or goldman sachs and the like but also from the business of home from trade groups and from unions to facebook to exit he actually decided that they will not allowed donald trump to post anything on facebook for the reminder of his terms of what is a little less than 2 weeks so what we're hearing quite a bit is that it's important to protect democracy you already mentioned that it's also important to make sure that there is this moves transition of power and then some of the business leaders also are calling for americans to come together having that said it's also interesting to see on the other side i mean big business has not always been on sync with the style of the current administration but on the other side they clearly took a profit from some of the policies like less regulation or also a lord texas but now as they fear that democracy is on the line and so finally they obviously decided to speak out. by facebook there now what's been easy to miss in the tumble of the last 24 hours is the democrats actually received confirmation that they do have the senate majority that's b

j.p. morgan chase and goldman sachs. we did reach out to robinhood for comment but have not heard back.e should point out again, this is bloomberg reporting based on a person familiar, people familiar with the situation. what we don't have all the details here. we talked earlier about while we saw these trading curves put in by the brokerage platforms. there's a lot of questions here about what this was to protect the actual trader, the people making the traits, or whether there was something else that needed protecting. caroline: and the brokerages themselves, because his credit lines are at least several hundred million dollars. we've got to start questioning who were the clearinghouses behind this? this is what interactive brokerage was saying, a lot of people are standing to lose an awful lot of money. joe: i think we will learn more in the days ahead about the mechanics of this, what the exposure is. this is bloomberg. fontaine: it's going to be a while before we learn everything that went down with regard to the trading in all the stocks over the last few days. robinhood temporari

j.p. morgan and goldman sachs. those are bank agreements with a great tradition and separate from the cash call. lionel laurent, i want to get back to the social issues as well. this is a learning curve for everyone on social. as i said yesterday, i take great issue with the idea of the boys on the couch. i just flat out disagree with it. what have the sophisticates learned on social that they can do again? lionel: well, if you are an influencer, if you have a lot of followers, right, you can get your trade done. if you are on reddit and you are the first person to say look at this and everyone follows you, you can get in and you can even get out. but for all of the other people who are in the trade, it is a bit like the reverse of melvin. you can have the best trade in the world. how do you get out of it? i'm sure a lot of people have made money from this trade, and other people are wondering how they are going to get out of it. francine: i know we have been looking at some of the movement on silver options. does

j.p. morgan, goldman sachs and citigroup and blue cross again reviewing their political contributions andow i think they're trying to send a message with dollar signs and what they are doing in terms of the amount contribute to politicians. ashley: right. that's the latest one pretty absurd that will be more. thank you, susan. now let me take a look at lululemon produce to overt calls on the yoga pants comedy but company, lauren, tell me about their fourth-quarter forecast. lauren: look at this ashley. the stock is now up. they say profit and sales will continue and they will come in at the high end of the prior forecast. they just wrapped up for about their holiday quarter ended officially for them and sun generate 31. shares initially sold off basically because wall street was being greedy and you've done so well and we want to see you beat by more and also raise your full year outlook and none of that happened, nonetheless it was a good report and it looks like it will be a good report and look at that, the stock is now up bite one and a third%. ashley: there you go. you turned it arou

j.p. morgan it would be a harder argument to make for a wells fargo an easier argument to make with j.p. morgan or goldman sachsother areas to help with the up and downic. i'm not surprised to see it held flat >> no. the comp levels have been at a going rate there's not a lot of swing from year to year at this point you can make an argument that it was a tough year on the other hand, didn't give you raw material for much of an increase and i think they wanted to keep things more or less steady at these levels >> we are pretty much out of time here. record close just about. the "fast money" starts now. >> this is "fast money." tonight's trader lineup. tonight on fast, a tech double play intel and ibm on the move after reporting results. straight ahead plus retail ripping, dillard's and kohl's posting gains go lone or go home what a 50-year u.s. treasury could mean for your money.

j.p. morgan and goldman sachs. we've reached out for comment but we haven't heard back. we don't know anymore about the financial situation with regard to robin hood. we just know that they have pursued credit lines in order to respond to some of the recent activity melissa. >> ok. leslie, thank you. coming up, does the reddit rebellion have your head spinning we'll dive into the portfolio protection trade ahead but first we're mop forring all the after hour action with visa and u.s. steel. much more "fast money" in two. s on car insurance and a whole lot more? hmm. so what are you waiting for? captain ahab to help you find a parking spot? thar she blows! whoops! loading zone. darn it. pull hard to starboard! too small! seriously? because it...ugh. oh! follow him! steady... steady... oh! thunderation! to the northern lot where there be parking spaces as big as whales! geico. see all the ways you could save. does your vitamin c last twenty-four hours? only nature's bounty does. new immune twenty-four hour plus has longer lasting vitamin c. plus, herbal and other immune su

j.p. morgan, blackstone, and goldman sachs call for an end to the violence. matt?k at european futures rising on hopes , confirmed byve the democratic wins in the georgia senate runoff votes yesterday, will deliver more stimulus and spending, fiscal spending from u.s. government. the left-hand column will populate as benchmarks across europe start to trade. the ftse first out of the gate, up about 0.5%. we saw green arrows across the board, so as you see, the ibex the aex open,ee you will see them here. the ftse continues to rise now 0.75%. european markets will be opening higher. this is amidst the unrest in capitol hill, but it's also the win and control of democrats over the u.s. political process. joining us now is john roe, legal & general investment management head of multi-asset funds. let me first ask you what you think about yesterday's violence? it was fascinating to watch the s&p hit a new record high as trump supporters stormed and broke into the u.s. capitol building. yet, i guess it is because of the democratic wins that the markets continue to rally.

morgan stanley rising at a time when they have already surpassed goldman sachs in value. they are the number one equity trading's shop on wall street. j.pan would love to take that year. they outperformed there. citigroup, bank of america, goldman sachs, short on fixed income trading. morgan stanley stepping in with a beat. tom: we will get a compare and contrast on that in a bit. i want to get to what gorman said, significant momentum into 2021. is that standard ceo boilerplate, or is it true? >> in the middle of last year, he was a little bit worried about these pickups we are seeing in the economy, and this is someone who is saying that we should see a v-shape. he was optimistic, changed his tone, and it looks like he is back again. tom: corbett out, frazier in, and she wants to do what gorman is doing, wealth management. what is the gorman pixie dust that allows them to be the guy that owns about management across the industry? sonali: one of the things we asked, as he grows, he did two major acquisitions last year. is he trying to be all things to all people? no. he is not trying to be credit suisse. tom: not trying to be blackrock

in some cases, and indeed many cases, are increasing the bonuses, at least for traders, goldman sachs and j.p. morgan see a 20% increase of traders who brought this large windfall. the same cannot be said for credit suisse and their bonus plans. francine: we also found out through dft that the credit suisse former chief executive may have a new move. he may be starting a spac. has caught the eye of tejon tn. his spac is said to be worth about $250 million. to be listed in new york, it is going to target financial service terms. ,ticking with what he knows reporting that investors, in this, some of them are sovereign wealth funds, so that is the pool that we can expect to be participating in this new spac. francine: dani burger with the latest on some of these european banks. the bubbleis bursting? bitcoin faring well after the bear market yesterday. we look at the outlook for cryptocurrencies next. this is bloomberg. ♪ francine: this is "bloomberg ."rveillance let's get to the bloomberg business flash. here is leigh-ann gerrans. leigh-ann: initial public offerings in london are off to their strongest

j.p. morgan, and goldman sachs, along with several other banks all of this in an attempt to be able to allow investors to buy shares in companies like robinhood, which of course were hit, or not robinhood, gamestop, which have been hit so badly yesterday in part because robinhood's investors were prevented from buying those shares we want to focus on this decision to suspend the trading on some of those heavily shorted stocks including gamestop, amc, blackberry, andnokia the free trading platform said the decision they said was a risk management one meant to protect what they said were investors and the markets. robinhood also raised margin requirements for certain securities the company's ceo, vlad tenev speaking out in an interview last night i asked him how concerned customers should be about the robustness of the system >> well, to be clear, this was the system working we have the ability to restrict buying in symbols for unprecedented market conditions such as this, and to be clear, we didn't shut down the system we shut down buying for these 13 stocks, for these 13 security, but custom

j.p. morgan, citi posting in the red citi mix, wells fargo, that was a miss bank of america, goldman sachs on to report next week given today's action, is there more pain coming for the financials let's use the example of j.p. morgan it was a good quarter. the stock was up 36% in the three months going into the quarter, though. is that the problem with the banks at this point? >> yeah. i think that's clearly the problem. there's nothing wrong with their erpgs, necessarily, but the stock that is run up so much before the season. i think any type of blemish is going to drive the price lower we're still in this value trade. i do like the banks for the totality of 2021, but i think near term there are some concerns one of the rate side -- the positioning has unwound a little bit. you had net short positioning and long bonds really extreme later in the fall, so i think if that move to the other side of the boat at all, if you see any issues with stimulus being rolled out or the vaccine or economic data in general, that position change could rate some. with banks 40% above their 200-day moving a

goldman sachs. we own j.p. morganught more just really closing the underweight in these names that could potentially benefit from yields going up which we think is going to happen as well. >> we will take that break for more on today's biggest calls of the day check out the writeup on cnbc pro, go to cnbc.com/pro and shares of novartis struggling over the past year and the pharma giant's ceo is with us exclusively to talk about the impact on the virus on their cancer and gene therapy work and when he expects areturn to normal were back in just two minutes. we want a hybrid. so do banks. that's why they're going hybrid with ibm. a hybrid cloud approach helps them personalize experiences with watson ai while helping keep data secure. ♪ ♪ from banking to manufacturing, businesses are going with a smarter hybrid cloud, using the tools, platform and expertise of ibm. ♪ ♪ working, parenting, problem solving. at new chapter vitamins we've been busy too... innovating, sourcing organic ingredients, testing them and fermenting.

j.p. morgan a license goldman sachs given a license so they are about to gear up to have their own businessl that is alibaba the ant group. i keep asking the question where is jack ma? jack ma is the billionaire founder of alibaba group i used to see him at all sorts of of conferences whooping up with wall street executives, because they took him public and in alibaba going to get make some money in ant group huge ipo, until china pulled it. because jack ma made criticizing comments about the chinese communist party regulations in the financial services industry. ever since he made those comments jonathan they pulled the ant group deal and he hasn't been seen for two months! where is jack ma? is this a lesson for companies about to gear up open businesses in china? make sure you understand who is in charge, it is not you. it is xi jinping. and that is what they did to jack ma. they are also hiking crack don on pro-democracy movement in hong kong. reports show today that chinese government could put he reforms on elections there, to silence the pro-democracy advocates a week after over 50 we

revisit for the first quart of this year at least microsoft joining this long list for goldman sachs, j.p. morgansaid they are taking a step back when it comes to making political contributions. if you wonder about apple apple does not make any pack or political donations on their own, this is not a policy because they don't even encourage you at all, speaking that's what these committees are doing in the trying to say that we disapprove of the events last week and we are rethinking where our money is going. gerry: i know the company say this is because they don't want people inciting violence or expressing extreme use but it does look like a broad ranging effort to basically get conservatives -- many conservatives off the major platforms, try to go elsewhere, what's going to be left? >> there are alternative, gaba is one of them but having problems after the pittsburgh synagogue shooting a few years ago but we need to find different alternatives, that's what you hear from conservatives, however, what type of alternatives are there especially when they need the backend to be supported by the big

500 for the end of the year so up another 4% from today's level, but the bullish bracket, goldman sachs, j.p. morganlish forecasting double-digit rallies for the year with stimulus, divided government meaning no new tax highs and a recovery in the us economy. let me ask this, paul show the democratic candidates are leading in the georgia senate races with the bullishness in the way we are starting off 2021 and the mentality of gains, do you think people are too complacent? stuart: may be a little because i have seen the same polls in the betting markets. he's ahead in his race. maybe it's time to take notice of that election and we will because it's a crucial runoff in georgia tomorrow and by the way we had this new factor. a leaked audio, leaked audio of a phone call revealing president trump or georgia secretary of state to quote find more votes. listen to this. >> i just want to find 11780 votes, which is one more than we have because we won the state , so tell me, brad, what we can do? we won the election and it's not fair to take away from us like this. stuart: joining now, bradley:, republican

j.p. morgan, bringing in 22% more revenue. pay increase, only 1%. a big disparity at goldman sachs as well.that is overall pay, what about some of the top rainmakers and executives? the big people in the room. is there pay stalled as well? >> we don't know the exact numbers but what we have heard, their pay does likely look better than a 1% increase. these banks emphasize they want to keep talent, they want to keep them at their bank. the big rainmakers probably are getting a better bonus. in terms of executive pay and see suites, that is unknown as well. hopefully we will have those soon. we already do know some banks, at top banks, executives are getting bonus cuts. still, it goes to show even for the top dogs, the pay or at least -- a pay or at least bonus cut is not off the table. matt: dani burger talking to us about wall street pay. we are 24 minutes away from the market open. take a look at futures this morning. we have seen a drop in concern about global virus restrictions. futures down 0.7%. investors looking for a little safety. not looking for bitcoin at the u.s. dollar, up zero

j.p. morgan chase, bank of america, citigroup, wells fargo, goldman sachs, and morgan stanley would all haveiden increases the corporate tax rate from 21% to 28% this after president trump went from 35 all the way down to my 21% and by the way the big banks saved an estimated $42 billion because of the trump tax cut. joe biden has said he won't raise corporate taxes until at least 2022 and it's not just the banks. he unveiled a slew of new taxes on wealthy households including higher income taxes, expanding the payroll tax and yes, fewer deductions, so not only will the banks anymore, but so will many other people. stuart: thank you. looking at future spirit i'm going to call this flat-out rally, the biden rally, yellin rally, but call it what you want, but it's a rally. she claims to be a nonpartisan anchor, but now katie couric is joining other liberals call it for quote the d programming of trump supporters. looks like the left wants to silence the 75 million americans who voted for trout. hillary clinton still cannot let go of her obsession with the russians. listen to this. >> i would l

goldman sachs generated an extra 15% per employee but only spent 2% more. the gap was even wider at j.p. morgan per person, pay up only 1%. the kept boss jamie dimon's compensation study at $31.5 million. citigroup is making gradual progress on the gender pay gap -- on narrowing the gender pay gap. women make 26% less than men, a 1% improvement from a year ago. the bank is one of the few companies to give detailed statistics on pay gaps. google is threatening to disable a search engine in australia. it is a month-long standoff with the government. google says proposed new rule is unworkable. prime minister scott morrison is hitting back, saying australian makes -- australia makes its own laws. that is your bloomberg business flash. francine: bitcoin has steadied after slumping below $30,000. the retreat is bring up fresh questions about cryptocurrency. bitcoin is on course for one of its worst weeks since the pandemic while financial markets march. joining us is our reporter from hong kong. good afternoon where you are. what may be some of the reasons behind bitcoin's slide or rise? what is it

without using wall street firms making moves within china, goldman sachs recently will own its own operations, brokerage operations, j.p. morgane same thing and now you have a weird 180 i'm part of the new york stock exchange which only said they will delist the companies because they have ties to the chinese military now to say they will keep them in the listings, we should point out that the new york stock exchange makes money a couple of ways, makes money executing trade, not from humans but through a computer and makes money on listings and having companies say i'm in your company stock exchange stock, makes a decent amount of money, losing chinese companies would cost a decent amount of money and what they saw was the writings on the wall donald trump will not overturn the election in joe biden is going to be president, why turn away these two companies, these companies when the london stock exchange will pick them up, will be used on other chinese companies in the whole battle to gain listings and make money. that was a calculus, number one a business decision, making money doing the stuff and there is going to be a thou

goldman sachs saying they will be pausing political contributions. his comes on the back of j.p. morganpolitical action committees to republicans and democrats for the next six months. we have seen wall street and a number of these financial institutions scramble to try to make some of these policy changes in the light of the capital riots we saw last week. we are hearing goldman sachs will stall political contributions as well. karina: top democrats say they will bring impeachment legislation to the house seeking to remove president trump under the 25th them admit. the move comes in -- 25th amendment. there is no timetable yet for the democrat cheaper web. -- no timetable yet. it is not clear of any impeachment will be sent to the senate. apple and amazon are removing the social media platform parler from their services after it came to prominence in the storming of the capital. amazon will no longer hosted on the cloud. it is popular with all -- with all right groups. it is key -- it is seeking a new host for its platform shared chinese media says the plan to remove restrictions on in

it's as normal as normal can be and i think goldman sachs is like up 40% over the last of a months. j.p. morganthis juncture. stuart: gary, we will watch for the correction. gary kaltbaum, thank you for joining us. they are ringing the bell and that means we open very very soon. we are looking for maybe 200-point loss for the dow industrials when trading begins. it's begun. down 183, down above a half of a percentage point loss. that's the dow industrials. down 190 as we speak. s&p 500, losses fractional. getting between a third and a half of percentage point. nasdaq composite is only down a fraction. that means maybe the big techs are coming back a little from yesterday's selloff. lets look at the big banks. they have open for business and yes they are down to the biggest loss is wells fargo which is down 4% and his city is down 4% as well. zoom, you know that stock has almost become a verb as it's been named the 2021 top stock pick by leading investor firm on wall street. lauren, guess they expect more zoom at meetings this year? lauren: maybe once or you don't have to look at yourself in the