it doesn't mean jamie dimon is no longer a democrat. he wants what is best for the country.s is another sort of peg in the rise of nikki haley that we've seen in this race so far. look at her gaining in key early states. a distant second still to trump and a target among her rivals as "new york times" opinion writer put it, she ran campaigns that nobody thought much of until unexpectedly suddenly she was winning them. is that what's happening here? is it real? back with us, jim is nodding his head. i'm sorry, mark is nodding his head and jim is back with us. mark, she just responded to what that source says that jamie dimon said about her saying, look, we had a phone call, talked with about debt, the economy. she said, we'll take it. >> another sign of a long series of good things happening for nikki haley. all three debates you could argue she won. tim scott dropped out. that helps. jamie dimon is back meeting with her. that's a good sign. a lot of things happening for her. i said for a long time she is the last best hope for anybody to take on trump. she just has to run a

take a listen to what jp morgan ceo jamie dimon had to say. i think they are doing the right thing to pause for now. they've raised rates a lot. to wait to see the effect on the economy in the u.s., particularly as the fiscal spending, the excess fiscal spending is writing down -- winding down and quantitative tightening is kicking in. i still think you should prepare they might have to do a little bit more and i think people should be prepared for that just as kind of a risk management tool. i am afraid inflation may not go away that quickly. kriti: at the core of that is the markets already getting ahead of themselves. jamie dimon, ken griffin warning against it. the markets saying the fed is done, and therefore, four cuts priced into next year, a complete turnaround from what we are seeing, and that's just the u.s. story. we get inflation numbers from the u.k. today, that data coming out in less than 30 minutes. year on year reading expected to drop below 5% for, get this, the first time in two years. let's bring in dan hansen, senior u.k.

as we mentioned, jamie dimon taking to andrew sorkin. drew began by asking dimon why he views it as a dangerous time. here's what he said. >> if you look the a history and open the newspaper of any month, any year, of course there's always tough stuff going on. wars and depressions and recessions and -- but if you look at this time and what's happening in ukraine, a 600-mile front, free and democratic european nation, 600,000 casualties, huge humanitarian crisis, on the border of nato, nuclear blackmail. it's affecting all oil and gas migration, food costs, and all international military and economic relationships. that's pretty tough. and that was before the terrorist attack in israel. and so, i look at those things as kind of, it's dangerous, and you know, we need to get through it. hopefully, it'll all go away, but if you look at the history of battles like this, they're unpredictable. you don't know the full effect. and i have spoken to a lot of people. i think you've talked to condi rice and bob gates and some of the military folks.

ambassador any ky nikkihaley holding conversationh jamie dimon about the economy. she believes government and business can drive growth by working together. this happening as citadel founder ken griffin says he is close to making a decision about financially supporting haley's presidential bid. your thoughts as we scenic ky wi haley -- >> is she a viable vp option for president trump? i'm not sure on that. her position on the war in ukraine is far different than the president's. nikki haley is a strong candidate. she appeals to a lot of women. my wife said yesterday i think i'm going to vote for nikki haley. perhaps a had that would -- perhaps that would help trump in that regard. et files like when we're watching the debates we're watching a funeral procession because we know had that trump is probably going to be the nominee. maria: i know trump said no to nikki haley being vp before. she went in there with ivanka and a jared kushner, trying to replace mike pence but trump would not throw pence overboard. i don't know if it will be different this time or if trump

i mentioned jamie dimon. the person who has really caught attention last one he for hours -- bill ackman, this is what he thinks. bill: we have another -- actually, we are betting the federal reserve is going to have to cut rates more quickly than expected. that is the current macro bet we have on. guy: that takes us to the question of the day. higher for longer no longer -- i think we probably ripped this off a piece this morning. but we will do that. to be honest, alix did that. let's kick this around and figure out what is happening here. to be honest, i am really clueless. mike, let me start with you. we are now getting comments from raphael bostic. mike: the markets took those comments yesterday as a sign it maybe would not be higher for longer, longer. today, raphael bostic is joining in the conversation. this gets to what alix steel said about how confusing it is these days. he says in an essay published today by the atlanta fed that one of our economists calls the current economic picture a rorschach

saw jamie dimon talking today, look at that, at the far end of the chart.t's about an 11% move here. airline stocks were horrible going into the start of november. and they have all turned around, bottomed out. there's alaska, lights kind of went on there, 31 at the beginning of the month, now it's 37. same thing with everybody else. delta, southwest, united, all up in the mid-teens. and all are straight down for several months here. even the ipo business, remember, birkenstock, what a disappointment birkenstock was. it went public in -- put up birke birkenstock, went public at 46 in october. round trip there, it's now back to where it was its initial price. it's been trading below 46 where it started the whole time it's been around here. and there we are, back to where we were in the beginning. gamestock has been rallying. they'll have their earnings out september 6th. some activity in the options area in the $20 strike price area and i think what's going on, and gamestop closed at the lowest level a couple of days ago since february 2021. you'll see occas

it seems they are ignoring what jamie dimon has to say for the moment. the 1.9 percent rise in the s&p 500 in the session post cpi. a big rise in the nasdaq. it looks like in the next session we are pointed higher for the moment. same thing in terms of hans. we have on futures pointed lower -- we have bond futures pointed lower. we got the massive drops in the tuesday session post cpi. it was 21 basis points on the two year yield. 25 basis points on the five year yield. 18 basis points of a plunge on the 10 year yield. was going to say you cannot get a good gems but i guess you could. haidi: funny, of course -- vonnie come on one hand there is a third and on the other hand president xi jinping lands in san francisco. he is on his way ahead of critical meetings with a number of asian leaders. particularly we are watching for the meeting between him and u.s. president biden. huge implications for markets as we get into looking at what those deliverables can be. it's get perspective from our next guest. great to have you with us. quick -- when it comes to e

that's the argument that jamie dimon is making. i'm glad to see him at least get off the sidelines.ot of folks have been fijnge in the wind. that's an important step. liz cheney made this point in the excerpt of the book that cnn published exclusively the other day. this is a time for a broader movement to stop donald trump for republicans, democrat, and independents. >> all right, guys, stay with us, don't go anywhere. we've got a lot more to get to. >>> including elon musk and his very clear three-word message to advertisers. he also reveals what he thinks would actually kill x. >>> and the pause in fighting between israel and hamas is extended. we're going to ask israeli officials what that means, how this is going to change things going forward. >>> if somebody's going to try to blackmail me with advertising, blackmail me with money, go [ bleep ] yourself. but go [ bleep ] yourself. is that clear? i hope it is. >> seems pretty clear. also rather rare to see a leader of a public company lash out like that, wu this is not just any leader of any company. elon musk there in his firs

i mentioned jamie dimon urging business leaders to commit to her.ch network, conservative juggernaut that could expend limitless funds to help that cause. kenneth langone. what do you you make of it? >> nikki haley had a good few months and you could say she really did benefit from her debate performance which is rare for a candidate especially with donald trump on stage. she had strong debate performances consistently that allowed the anti-trump wing of the party to consolidate, seemingly interested in ron desantis and his struggle. they are polling similarly but all the money in the world, if trump is leading by 30, 40 points in many polls, he's likely to be the nominee. neil: they have had run-ins with problems. what do you think? >> he is still calling her bird brain. he did pick her in the past. he has been critical of him but i can never guess what most people will do especially what trump will do. she has been very critical, and how he has lost the support, republicans, particularly women. that doesn't mean she couldn't help him when the demo

morgan's ceo jamie dimon. president trump called him a overrated globalist.aley is closing in on ron desantis in the latest polling. that is a national poll. this is going to be fascinating. i'm very much looking forward to this. tonight the squaring off between democratic california governor gavin newsome and ron desantis. governor of florida. hosted by sean hannity at 9:00 eastern. it's a 90-minute debate followed by a half hour discussion about what happened up there. it's going to be must-see tv. let's bring in hogan gidley from the american first policy insurance to youed that worked in the press office of the trump white house. a fox news contributor and author of "obsession inside the washington's establishment never ending war on trump." good to have you here, byron. a huge koch brothers endorsements and a lot of money and dill outreach in a lot of states that could be helpful to nikki haley. jamie dimon urging democrats to vote for her in the primaries. what do you think the impact is? >> it's not clear right now. what is clear that there's a huge di

i don't know what was discussed with jamie dimon did you look into that yesterday?ked regularly about the economy. >> powwowing. >> we can ask about that. >> we can ask a lot of questions of nikki, ambassador haley, governor haley, gofrmg nor ambassador. >> we've got a lot coming up plus this after the break. retail target set to report. we're going to bring you the reaction from wall street. as we head to break, yesterday's s&p 500 winners and losers >> announcer: executive edge is sponsored by at&t business next-level moments need the next-level network move to the cloud. - so, the question is... - cyber attack! as cyber criminals expand their toolkit, we must expand as well. we need to rethink... next level moments, need the next level network. [speaker continues in the background] the network with 24/7 built-in security. chip? at&t business. >>> good morning welcome back to "squawk box. we've got green on the square. dow looks like it would open up 500 points higher. the dow up 93 points the nasdaq up 93 points. all of that on the inflation data from yesterday.

stuart, does this surprise you because given back during the olden days, i think jamie dimon was on a secretary during the obama days. >> stuart: that was during the obama days. that's right. he didn't make it. he didn't become the treasury secretary. i'm not sure exactly what his politics are. what he is trying to do is rally american business behind an alternative to trump, specifically, nikki haley. as you mentioned there, he said look even liberal democrats should support her because you have got have a choice that's better than trump. now, i find that a little surprising because the economy under trump was really pretty good. we had a #% growth rate at the end of his term. and now that's completely reversed. i think is he trying to say american business needs this alternative. we need somebody who will not go into chaos mode as trump would and nikki haley is the person. she is getting a lot of support. ken langone, co-founder of home depot. >> steve: the koch brothers. >> koch brothers in there. this pac americans for prosperity action that focuses on alternatives to trump they a

i think jamie dimon and others are worried about the deficit. that's a long-term concern but i don't see that as a concern over the next 6 to 12 months >> we're at 4,500 on the s&p, professor. given what you just said, what's a reasonable expectation you have for where stocks can go if we judge it by the price action on the s&p 500 >> well, we just take november and december and we don't see a big slowdown, we see a slowdown but nothing that looks like it's turning into a recession you know, we could do another 5%, 6%, 7%, maybe even 10% of course that's six weeks away, scott. it's how you predict what's going to happen six months in the stock market but, listen, even today with this rally, we're at 18 times next year level's earnings, and that's what with the magnificent seven. take them out, we're at 15 times earnings or lower. small stocks which rallied so wonderfully yesterday, even today, continuing the rally, 12 times earnings, 13 times earnings they're almost priced for a recession. so, anything that hints that, hey, maybe, we'll have a s

. >> just in case we lacked for further things to worry about, we have some comments from jamie dimon from this morning and he is speaking in this direction as well. >> my view about the economy is i think there is a higher chance than other people that rates have to go up. there are a lot of things out there which are dangerous and inflationary. be prepared. >> nobody would argue against be prepared, i guess. of course, you know, jamie dimon likes to stakeout that position of being watchful for risk, kristina. where do you think you would tilt in terms of if you had to worry about one big thing, is it the economy weakening more than expected or a flare-up of inflation that gets the fed back in the game. >> i think the economy weakening more than expected because of the long and variable lags of monetary policy. we don't know how much damage has been done by rate hikes thus far that haven't yet shown up in the economic data. so that's what i worry about. that's why i think it is too pollyannaish to assume a soft landing. we avoid a recession, but there is significant damage. >> bumpy

stuart: america's top banker, jamie dimon, was asked whether jpmorgan would leave china if ordered toould leave china if the u.s. government issued such an order. jpmorgan says on us web site it's been active in china for a century now and does investments in corporate banking as well as payments in asset management. listen to this. >> the chinese know one thing about me, or i'm red-blooded, full-throated, free market pro-capitalist, pro-american. and i salute the american government, and we're talking to them all the time about what is the right way to deal with national security. if the american government makes me leave china, i'm leaving china, okay? it doesn't matter what i think or don't think. ashley: there you go. he's going to leave are. dimon calls relations with china very complicated and says that engagement with both china and the u.s. government is very necessary. jpmorgan chase, by the way, advises clients including tiktok parent company bytedance and dien monosays, look, if people were truly doing bad things, the bank wouldn't do business with them. stu. stuart: now, c

jonathan: is your intrigue more with jamie dimon and jp morgan? imon. we also talked about sec. laurence fink, these are in the zeitgeist. jonathan: i think we will see a lot of stories like that. on surveillance this morning where an hour away from data. it should show consumer prices excluding food and energy rising 0.3% for a second month in october. the house of representatives will vote on the plan to fund the government but he is facing opposition from hard-line republicans who want spending cuts his proposal would need a two thirds majority to pass opening the door for a bipartisan solution. lisa: which is exactly what got mccarthy can. how is it different this time? can we see michael johnson retain his position even if he moves ahead with the bipartisan plan? jonathan: this one will linger all week. president biden set to meet with xi jinping and. they see an agreement over fentanyl. they want to stem the flow of fentanyl in the source material used to make synthetic opiates. tom: there are three methods jan fred, e-cig freed and cooped me

here in manhattan, the final beam is up on the jp morgan global headquarters, the co jamie dimon, kathy hochul and eric adams appeared at the construction site to celebrate the new 1300 foot building. we have been watching this go up for a long time. i'm guessing you saw it, jon, when you were in town last week. i think it's a great sign for new york. they build it -- they built it here and not in miami. jon: and in a time when there's a lot of conversation around corporate real estate, and the architects behind that donut facility in cupertino, california that apple operates, they were behind this design as well, where there is equally a focus on green but wellness is going to be a priority here, y oga access and other things. it is an interesting time -- it is going to take a while to get to the finish line but by 2025 how many people are coming to the office, with the factors that bring people into the office also an interesting part of the story. matt: yoga access would be enough for me. that's why i come here every single day, to have access to yoga. [laughter] which is very nearby

start the hour playing something the jpmorgan ceo jamie dimon said yesterday.on on the economy. people look at the card to economy and things are doing good, stocks up, and had a little bit of a drugged injected directly into our system called fiscal stimulation. largest ever in peace time and the largest monetary stimulation. two different things. different effects, but they are drugs running through the system creating a sugar high. we're in a sugar high. i don't know if we're landing in a soft landing, something like that. corporate profits up? yeah. because people are spending a lot of money. where did they get the money? government gave it to them. of course profits are up. when the stop spreading money, profits go down. sugar high and don't understand it. never had qt before. it may bite more than other people. >> and jamie clearly on a contrarian side relative to where the market seems to be, by the way, relative to where bill ackman seems to be. calling for opposite to happen. a lot of people think the fed will lower interest rates. he thinks that the g

from the leader of the largest commercial bank in the united states, the ceo of jpmorgan chase, jamie dimonhe's been in talks with the former u.n. ambassador and urged other business leaders to consider supporting her 2024 presidential run. dimon also suggested democrats should think about backing haley. >> what do you think of the two leading candidates right now? >> oh, god. i'm, you know, i'm not going to tell you. >> you're not going to tell me? >> i did come out and make a nice statement about nikki haley. >> you did. you have been talking to her. >> even if you are a liberal democrat, help nikki haley too. get a choice on the republican side that might be better than trump. >> that's jamie dimon talking there, and ambassador haley received the endorsement of the koch network. andrew ros sorkin will join us, and he has major headlines from ex-ceo elon musk. >>> when we come back, we'll be joined by comedy superstar sebastian maniscalco to talk about his new series "bookie", and much more. about his new series "bookie", and much more. he hits his mark —center stage—and is crushed by a b

the boss ofjp morgan, jamie dimon, who's sometimes seen as one of the kings of wall street, he said just other day, "the world may be facing the most dangerous time in many decades." now, i'm mindfulthat as governor of the bank of england, you carried the bank through the storms associated with the global financial meltdown of 2008. butjust in terms of your gut, are you feeling equally, maybe even more anxious, more worried today? well, certainly more uncertain. the financial crisis was a crisis of the western banking system, so we knew where the problems were. more of a mechanical crisis, in a way? yes. once we decided to recapitalise the banking system and persuaded governments to do it, then the banking crisis ended. it still led to an economic recession, but we knew that would come to an end. this is much more uncertain and dangerous. you know, the only time i can think in my lifetime when there's been so much fear was the cuban missile crisis. but of course, that just had two actors, well—defined geographically. and once the two sides talked to each other, an end was brought about.

and by the way, there's one little way i wanted to do, jamie dimon always seems to me to -- >> overlyrish? >> overly bearish. any way, jamie, i'm sorry. >> you think the next step is they might have done too many credit -- >> so they add it back. it's reserving for the bad credit. he seems to always do that. >> matt, final word before we get to these bond auction results coming in. same question we left steve with, what would you be watching now? steve's data points has two different things that could happen. there's the gentle move we went through in the 2000s, and then there's the much more extreme global financial crisis. >> i don't think we're going the see a repeat of 2008, 2009. but i think the big x factor in all of this is student loan repayments. because that's going to make a big difference in the household budget for a lot of families. we won't see those delinquencies reported for a year because of the grace period. in terms of reporting. but that may be a real underlying thing where, even if people's credit scores may stay stable, what's really cooking underneath and in th

no one, not even jamie dimon knows how this will play out. when you zoom out, it's important to remember the economy is in a much better place than people thought it would be just a year ago. >> matt egan, priscilla alvarez, thank you. >>> as israel pledges it will continue its offensive when the truce is over, u.s. officials are urging a more precise approach going forward in gaza. what's happening behind the scenes when we come back. >>> israel has freed 180 palestinians from prison over the first four days of the truce, mainly women and minors. many were detained, but never charged. 30 were released yesterday. ben weededeman is live in jerusalem. ben, lead us through these palestinians being released. >> reporter: tonight is the last day of the two-day extension that was agreed upon. the diplomats are doing their best to try to work out a formula to extend it. we heard the spokesman for the qatar foreign minister, qatar is the lynch pin in these negot negotiations, saying they're optimistic that it will be extended for two days. they're lo

jpmorgan chase's jamie dimon kicking thingsing off this horning.tics and nvidia ceo with us. of course, his story remarkable one in the middle of a.i. powering so much of it. by the way, openai basically was brought to the world as a function of his company. talk to him about everything that happened there. then going to talk to taiwan's president. our first interview with the western press in several years. after thatwarner brothers discovery ceo david zaslav in the midst of streaming challenges, strikes, everything else. this afternoon an interview with vice president kamala harris, she'll be here. disney ceo bob iger joins us. then perhaps maybe the one of the most powerful people who oversees all of these people in their own way, lina khan from the ftc and then, joe, you'll appreciate this. interesting and special interview. pga tour commissioner jay monahan talking about everything going on with liv tour, with this merger, with the geopolitics of it and talk about mental health issues he experienced as well. first time speaking out about that.

. >>> up next, jpmorgan chief executive jamie dimon weighing in on the 2024 presidential race. he says democrats should boost nikki haley, ahead. >>> and elon musk with a four letter word for advertisers fleeing what used to be called twitter. the power goes out and we still have wifi to do our homework. and that's a good thing? great in my book! who are you? no power? no problem. introducing storm-ready wifi. now you can stay reliably connected through power outages with unlimited cellular data and up to 4 hours of battery back-up to keep you online. only from xfinity. home of the xfinity 10g network. >>> welcome back. elon musk not holding back at all at the "new york times" deal book summit. musk did apologize for the anti-semitic post on the platform formerly known as twitter. but he said this about the advertisers that pay money. >> if somebody is going to try to blackmail me with advertising, blackmail me with money, go [ bleep ] yourself. but go [ bleep ] yourself. is that clear? >> don't get me -- okay. the conversation went on to cover everything from presidential poli

i also struck by jamie dimon's comments speaking about the war in ukraine and after the war broke outsrael and hamas, may have far impacts, and he said, this may be the most dangerous time in the world we have seen in decades. do you agree with. >>>? >> we will find out, right? it's no question what we see happening in israel, what we see happening in the ukraine are certainly signs for concern. and i think it's a call for leadership in the world. it's a call for political leadership and unity. it's a call for business to stand behind and be accountable in terms of what we can do to make a difference. it's not a time to talk about interest rate policy or when the fed's gonna do next. it's a focus on the existential risks -- >> existential? >> absolutely. and if you are in europe particularly, you are surrounded by it. >> yeah. artificial intelligence. every business leader is focused on it. everyone's wondering what's gonna happen. you said there is a lot of risk if not done well. you said you can never get to the point where machines are making decisions and replacing human judgment.

it is jamie dimon who is five to seven years into it, moving everything through a group called onyx onhe blockchain. it is closed for now, but we believe it will be open and allowed to run. that is what you will hear. they are going to be a reality in an open blockchain, in the near future. >> we will watch with interest. great to see you here as well. the head of research. coming up, we will continue with the narrative around ai. we will hear from the ceo's largest shareholder. we will get his take. ♪ >> openai's investors want cofounders sam altman. the staff is also threatening to quit saying they will follow him to microsoft unless the board is ousted. what happens next? take a listen. >> we are leading. we continue to be open to ai and committed to stan and the team. i think about stan who has chosen to work multiple times with us. the thing is, the capability that microsoft has is what attracts great people like stan, people like sam and innovators when it comes to ai and we are thrilled about it. >> you hired stan, as well as greg. we are hearing that sam wants to return to open

that very debate, we heard from jamie dimon. we heard from cathie wood.to what they had to say about that. >> i think they are doing the right thing to pause for now. they have raised rates a lot. too late to see the effect on the economy in the u.s., particularly as the excess fiscal spending is winding down and tightening is kicking in, but i still think you should prepare they might have to do a little bit more and i think people should prepare for that just as a risk management tool. i'm afraid inflation may not go away that quickly. >> i think the fed has overdone it. i think we will see a lot more deflation going forward. i would not be surprised to see cpi inflation negative at some point next year. we do think you will see more unemployment during the next 3, 6, 9 months in an election year, so it will really get a lot of attention. yvonne: add ken griffin to that, too, talking about if the fed goes above cutting too soon, that will really risk their credibility in all this as well. asian markets, we are continuing on. almost like victory has been

jpmorgan's jamie dimon said he's not predicting but a probably be the fed has 25% basis points. not predicting that but most people underestimate the probability of strengthening gdp and jobs will make it hard for the fed to get the inflation target down. lauren: i was going to say read the tea leaves, jay powell said rates are restricted. he did not say sufficiently restricted. meaning let's give it time and let what rate hikes as they did do, let the economy cool off. stuart: you've become a fed water on us. the cottage industry of whatever. lauren: do i get paid more money? lauren: probably. if the fed does hike rates like in december you are not going to get a santa claus rally. >> they want to be done and out of the way in 2,024 because we have an election. that will be the key focus for powell, let's do one more. the trade of 2,024 is going to be stocks up bonds down. we will get cuts so i will go two times contrarian. everyone things we will pause for a long time. i think we have one more hike and the middle of next year start doing it. stuart: the serious rally is not wh

the lineup includes elon musk, vice president harris, jamie dimon, many others.r there as well. he's in th

jpmorgan analysts say it is overdone but their bosses game, jamie dimon, has never left it. >> they are volatility. i love the volatility. i want more volatility. volatility for a long time leads to outside opportunity. if you want asymmetry which has been in the market and there is no volatility, no out performance in these assets. bitcoin allows investors to out locate capital to put billions of dollars into. that is what we have seen. this has compounded at 10% a year for over a decade. in the last three month 88% of all bitcoin circulation has not. in the last year 70% of bitcoin has not moved. 3% with monetary policy next year and this thing is going to fly like it did in 22. liz: thank, great to see you. pomp isn't just a warrior in the crypto trenches. he served as a sergeant in the u.s. army infantry. where is that picture taken? >> in iraq. liz: thank you for are you and your comrades have done. we appreciate it. tomorrow is veterans day. "the claman countdown" got an early start monday when we made the trip to the stock exchange to honor wounded veterans from all over the coun

jamie dimon in particular. they had a long meeting j.p. morgan very impressed.k when they see that? >> to me, it goes back to the endorsement part but i think there is something else going on with nikki haley. we talked about this maybe a week or so ago. there are a large percentage of the voter don't want to vogt for biden or trump. they are looking for alternative. she has been surging after every single debate she goes hire and hire. the more plaintiff's exhibit she is getting. we got to find someone. she seems to be the one in second. the one who can get closest to trump and the one who can probably defeat him. now these big names are going to start supporting her and getting behind her. i also think that her experience in the government and even with the united nations helps her with the business community. >> brian: real quick, patrick. some conservatives still don't trust governor haley yet. are you one of them? >> yes. absolutely. looking at her endorsement list. she seems to be getting a lot of big business, wall street type endorsements and i believe t

first i want to go over to other comments from jamie dimon at the deal book summit. he said in part -- we're not going to show a quote or play a sound bite -- but he said, be prepared. rates may go up. the ten year specifically. he believes the odds are higher than other people believe, that we're going to have a recession, as you can see here. we do have the quotes. i misspoke there. joe, i want to come over to you. >> everyone has their own personal opinion about how deep an economic contraction could be in 2024. i think we could all agree the trajectory for economic growth will certainly be lower from what was reported in q3. i really believe what's important for markets is the communication tool on whatever the policy is going to be. and we've reached a point now where the federal reserve has paused on raising interest rates. if, in fact, the data suggests that they need to go back and do another rate hike, i believe markets need one meeting of what i would call a communication meeting, a meeting in which they telegraph to markets that at the next meeting, if the

sonali: jamie dimon this morning said even if you are a very liberal democrat i urge you to help nikki too. how much are you getting those kinds of calls from your friends? mike: i got a text from a dear friend of mine this morning asking me if i would sit down and meet with her. would you help? i met neil phillips in the awful --office last week. i had never met him before. i did not really know his story. it is an amazing story. he has an amazingly rational guy preeti does not have the name recognition nikki haley doesn't this point but is the only non-biden candidate on the democrat side. i will spend more time with him. it's not really democrat or a publican at this point for the country. it is that we need to move beyond where we are. the thought of a trump presidency is so divisive. for republicans, biden feels that way. i might disagree with them, but he feels that way. to me what is best for the country is to move on and get something different. the odds of that happening are still pretty small. but, i think the payoff, if it happens, is pretty good for the country. sonali: spe

$9 million this month, nearly as much as both trump and desantis's packs combined and you've got jamie dimon the billionaire ceo of jpmorgan chase who has been talking up haley to anyone who will listen including during an event earlier today. >> i did come out make a nice statement about nikki haley. he did. very liberal democrat and i urge him to help nikki haley as well. decide on the republican side might be a bit of the trump. >> also it was reported by america's prosperity, the infamous arm of the koch network would be no backing haley as well, providing access to -- the political network run by charles koch, one of those powerful men in the, earth as has had one almost a malignant influence on america. life in one way it's unlimited amounts of untraceable money backing things like the tea party paved the way for donald trump, brought us to the moment wherein. and also, just be absolutely fair, i don't like, at all, nikki haley's politics. i think it would be a bad thing for the country if she were elected president. she would pursue a plan that would negatively impact americans. and a

if the mark goes to 20 times -- >> jenny, do you think it's too soon to declare the all clear, jamie dimon says inflation might not go away that quickly the fed is right to pause for now but, quote, they might have to do a little bit more. people are reacting to short-term numbers, and they should stop doing that >> i think it's way too early to call an all clear. one of the things we did recently was look at our growth portfolio, hey, what's been a best return this year? we have meta, uber, xpo up 150% on the year. why? they all cut costs you see what happened with target today why is target doing well why were their numbers good? they cut costs these are not reasons to be excited. it's awesome to have a bunch of stocks in your growth portfolio up so much, but they're not for the right reasons. and i think as we see -- as we see 2023 wrap up, 2024, that's what's going to drive earnings beats is cost cutting, and reductions in employment that's not good for the economy. that's not good for -- >> tell your guy jim over there. >> listen, jim and i argue about this all the time. not to mentio

and earlier today, jamie dimon says he's worried about the sustainability of last quarter's growth rate. >> i just think we have made a lot of mistakes, and so -- but when people look at the current economy and things are going good, stocks are up, we've had a little bit of drugs injected directly into our system, called fiscal stimulation. the largest we have ever had in peacetime. and qe, the largest monetary stimulation. two different things. different effects, but they are drugs running through system. they create this sugar high, and we're in a sugar high. i don't know if it will end in a soft landing or something like that. but people say corporate profits are up. yeah, because people are spending a lot of money. where did they get the money? the government gave it to them. when they stop spending money, corporate profits go down. so i'm worried we're in that sugar high and we don't understand it. we've never had qt before. i think it may bite more people. >> my next guest is a little more optimistic. he still sees a soft landing and says the fed is done hiking. joining me is the

myself exasperated at this thing, back to the whiteboard, see you again soon america's top banker jamie dimonaid inflation might not go away that quickly. how long is inflation here to say. >> he was not very specific as he sometimes is not a makes the broad generalizations basically what he says and they overreacted short-term and later will find out they were revised and not necessarily an accurate picture what were seen also in a list who say we could end up see inflation go back again and take an upswing so the fed might not be out of the woods just yet and cutting in 24 like this market expected to. stuart: retail sales, the numbers came out this morning, retail sales up 2.5% in october prices actually month over month is a 10% takedown you see the consumer slow and expectation that this will continue to get a little bit more steep we have interest rates at a 22 year high down to take a toll on the economy jerome powell said that's what has to happen and people have to lose their jobs and slowly but surely receiving that, i personally think you will have a rough year in 2024, having said

jamie dimon of jpmorgan said nikki haley's actually a good alternative to trump, and he says democratshelp her so they don't get trump. i think he was addressing more than just democrats. when he made these comments yesterday. he was speaking to the rich people in the room. who was in that room yesterday? elon musk, bill ackman. bill ackman is not on the biden brand right now, and bob iger. maybe he can get some democrats and some big with democrat money to come over to her. stuart: i think what he was trying to do was to swing american business away from trump and towards someone who might be considered more moderate, nikki haley. up lauren yeah. stuart: swing american business in support of that moderate because he may like trump's policies when he was in office because we had a very successful economy, but they don't want that chaos to return. lauren: i saw the same outcome but a different take. i thought he was trying to take money away from the bide incorporate donors, the big money that is -- corporate donors, and swing it to a mored moderate republican like nikki haley. stuart:

jamie dimon said people are overreacting to short-term numbers, and in his opinion they should stop doing that, and he's also of the opinion we could actually see the federal reserve hiking again in the future in his opinion, we're not done yet when it comes to the rate hiking cycle of course, when we look at the market reaction over the last 24 hours, that's clearly not what the markets are pricing in clearly at this stage, most market players seem to be expecting that the fed is pausing this rate-hiking cycle also important that yesterday we also heard from home depot, and their message was actually very much in tone with this data on cpi from the u.s home depot also said that it's seeing inflationary pressures receding, and, of course, the markets were also happy to hear that. >> it does feel like the market in the last 24 hours or so has really taken hold of this idea that the u.s. economy is approaching what appears to be a soft landing, what many thought was impossible at many stages here inflation coming down to the fed ultimately doing its job while a recession is not here and the

had a nice pce today, but we're still ll above, and services dynamics and the cost of services, jamie dimon said this on the deal book panel he was on, it was fascinati to hear that, and the bottom line is, ceain things, i don't think, are going to go a lot lower from re any time soon. the central bank lack of buying continues. and yes, we have another quarterly refunding announcement, and there's no question, when your expee has gone from a couple hundred billion, that sounds like a lot, but it's gone to $600 billion for our government, that's a big deal. and i think that's something that over time, it's why i love gold. some of these long-term charts, look, 15 years ago, we sat on this sw, we had smart people come on our show and tell you that the fedas going to, you know, free money was going to be the end, and the minute they had to pull it back in, it was going to be a disaster. well, it didn't happen overnight, and it's not going to happen overnight. but there are trends here that i think have changed and are not reversing, and they include long-term interest rates. >> let's get to te

take jamie dimon today publicly calling on others, including democrats to go and support nikki haleyn new hampshire, that indemnities can take part in the republican primary next january, and ultimately have an impact in this race. and when you look at the polling, she is clearly right now the number two to donald trump here, and it's a matter of at what point does this field consolidate, and does it consolidate in time for her, and is that enough support to take down donald trump? >> has the dnc responded to this? >> reporter: we're waiting to hear from the dnc about this, chris. >> david, look, there is a little bit of nervousness that i'm hearing from democrats, right, and i think it's exactly what vaughn just said, which is that she performs well, and i wonder, frankly, if you think that nikki haley has the potential to be a more serious contender against president biden than donald trump is, if you were on his campaign, david, would you be worried? >> 100%. nikki haley, i think, would stand out formidably against joe biden, and possibly be leading the current president by a stre

jp morgan chase ceo jamie dimon is urging democrats to back gop prespresidential hope full nikki haley to president trump. he said, quote, if you're a very liberal democrat i urge you to help nikki haley to give them a choice on the republican side that might be better than trump. she also got a key endorsement from americans for prosperity action, a political wing of the money network founded by the billionaire koch brothers. maria: thank you so much. the holiday shopping season in full swing, retailers recovering from a record breaking weekend, black friday and cyber monday sales, adobe analytics finding black friday shoppers spent a record $9.8 billion online, up 7 and-a-half percent from last year. consumers also spending $12.4 billion on cyber monday. with buy now, pay later purchases hitting an all time high this year. we want to get into it and get a spoke of what's happening in retail, talk to the president and ceo of five below, joe anderson in the studio with us. >> thank you for having me. maria: you have some products we'll talk about later. you reported earnings yesterday.

and jamie dimon speaking in mexico this evening, saying inflation may not go away that quickly. that the fed is right to pause in rate hikes right now, but that they may have to do, quote, a little bit more. >>> meantime, the asia pacific economic cooperation summit kicks off today in san francisco. the summit coming at a time when american companies are struggling to define their relationship with china and ahead of a rare meeting between president biden and chinese president xi jinping tomorrow. eamon javers has the latest on what companies are hoping to accomplish this week >> melissa, president biden arrived in san francisco just about an hour ago, stepping off air force one and shaking hands with california governor gavin newsom and other state officials here we are expecting xi jinping to land very shortly. we haven't seen that arrival yet. the question for corporate executives watching all this, what, if anything, the leaders will be able to agree to, and the early betting is not much. maybe new language on climate change and fresh communications around a.i. negotiations