just out of nowhere he goes, he mentioned something about jamie dimon. oh, jamie dimon, great guy.y quick, charlie, i don't know if you saw the robot, aria. i asked her about investments. you'll want the hear this, listen. what are the best investments to make right now? >> buy crypto. [laughter] liz: well, actually, bitcoin is moving higher by 2.6% to $622-- 6 2,000 -- >> it's only going up from here, guys. liz: can you believe that, charlie? >> she sounds like a brain dead gen-zer. i think that's where they get the information, from some brain dead gen-zer. did you tell me there's something weird about how this was started? liz: companion dolls. the founder was in companion dolls. charlie, we've got to run -- >> whoa, whoa, whoa, you're saying the guy who founded this is a blow-up doll manufacturer? >> liz: well, she looked kind of real. charlie -- okay, we're done here. today's rally, it's actually improving as we speak. [laughter] major averages actually turned higher for the week. that wasn't how it was at the opening bell. joining us now, chief research strategist and portfol

know jamie dimon is not join anything administration.ays. >> past day. larry: oh. -- now why is that? >> is this another guy who sees handwriting on the wall. >> they know donald trump is not forgetting if you go out there and, in the homestretch, and he wins, he is your regulator, banks are highly regulated. larry: we don't know that mr. trump will win, but we know it is close. we know that trump is closed the gap in polls, but i'm saying. looking at the hedging their bets all of a sudden, goldman sachs liberals running for hills, ja jamie dimon. >> running for the -- taking their bikes. >> i thought they took their bentleys it is goldman sachs. >> or teslas or whatever. larry: that happened too bill gates? he gave 50 million to kamala harris. bill gates? missed it. >> he is -- the whole woke ceo crew is just bizarre, i will say, if they think that they will be woke if trump gets elected, i will say, they have another thing coming, they will try to dismantle from sec from justice department from. and ftc, en entire woke corporate appara

scarlet: jamie dimon, getting punchy there. for more on this we are joined by cheryl, who owns j.p.organ debt. great to speak with you. a beat and a raise for the third quarter and for the current quarter. j.p. morgan morning that net interest income will miss analyst estimates. does this set the bar as a dar for what other banks need to deliver this earnings season? cheryl: i do think it was certainly [no audio] scarlet: we are having technical difficulties with cheryl there, hopefully we can get her back online, even as she just started. be sure to to a later, where we will be speaking with the cfo of wells fargo, later on. ♪ scarlet: all right, cheryl is with us from oak capital. to recap quickly, raising net income for the third and fourth quarter, the outlook for 2025 is a bit rosier than what -- or i should say that analysts are rosier than what is likely to happen. my question to you is -- does this set the bar or standard for what other banks need to deliver this earnings season? cheryl: it does, to some extent. we were positively encouraged. broadly speaking, we expect, mov

it's amazing stuff. >> i have to hand it to jamie dimon here.e biggest bank in america. big firms welcome it because their smaller competitors can't afford it. the big boys like it. it's the biggest of the big boys, if he's had it up to here with the biden administration and the regulatory puppeteers like elizabeth warren, well, then things have really, really gone too far, and it's time for change. elizabeth: you know, jamie dimon said they're hurting the economy, that he has to keep suing these banking regulators over and over because things are becoming, quote, unfairing unjust, they're hurting, like you said, companies and lower paid, lower wage individuals. that's who getses hurt. can you explain that? if. >> well, yeah. i can explain if it. it mean, jamie diamond thinks trump is going to win because these regulators have unilateral, unaccountable power over jamie dimon. and for him to call them out like this, he thinks they're going to be a different group many in three months when trump is president. elizabeth: don luskin, you kept it sho

jamie dimon's doing the same thing. larry: jamie dimon?ks ago i reported that jamie dimon is telling people he's leaning towards harris times comes out, follows it and i come out and say well, you know, we had it first and i get an e-mail from someone very close to jamie dimon. charlie just want you to know, jamie dimon isn't joining any administration. now why would he say that now? larry: in the past three or four days? charlie: no the past day. larry: oh, is this another guy who sees the handwriting on the wall? charlie: yes, they know donald trump, they are all seeing it, donald trump won't forget if you go out there especially in the sort of home stretch, and he wins, he's your regulator. remember banks are highly regulated. larry: we don't know that mr. trump is going to win but we know it's close. we know that trump closed the gap in the polls and we may not love the polls but i'm just saying. they are looking at these, and they are hedging their bets. all of a sudden, goldman sachs liberals running for the hills. jamie dimon runnin

i one point, trump said jamie dimon, we're thinking about how to be treasury secretary. and then mere moments later walked it back. look, i mean, clearly, i don't know if jamie diamond is the most important person, but i think this is a reflective window and sort of how trump thinks fool me once teddy schleifer, thank you so much kamala harris is campaigning in flint, michigan, according a very important group there, muslim and arab voters, will they show up for her november? that's the question. >> will filmmaker and flint native michael moore, he may have an idea and maybe a little bit of a warning for him harris he joins me in just a moment. >> and later, an interview, you don't want to miss as nba star jimmy butler gets deep about being a family man and the upcoming series, starting five with lee filter, america's largest gutter and gutter protection company, lee filter as over 150 locations and has been installed on over 1 million homes. >> we've in protecting homes now for over 20 years, our patented technology offers total protection for your home and comes with a

maria: the story with jamie dimon, jamie dimon, the chairman and ceo of jp morgan, slamming the biden-harrisof government regulations on banking, saying it's time to fight back against red tape. dimon said this, we are suing our reg regulators over and over because things are becoming unfair and unjust ant they're hurting companies. a lot of the rules hurt lower paid individuals. this is not the first time we heard jamie talk like this. he said this to me many times. this is the crux of the issue with the democrat party and certainly kamala harris campaign. they are going to add lots of regulations to corporate america. you've heard her first instinct on inflation, when she said how are you going to rein in inflation, her first instinct is to say take corporate america down, it's their fault for price gouging which is not true by the way but this is what they're doing and these regulations whether it be on banking or around the climate change agenda is really hitting a cord for jamie dimon and other ceos. that's why they're likely voting trump. >> that's right. the regulatory state has cost

that quote from jamie dimon this morng.ain, including lae fiscal deficits, infrastructure needs, restructuring of trade and re-miller's age and of the world. we hope for the best -- re- militarization of the world. we must be prepared for any environment. if you caught up with the man this week. that is on was exactly what you heard. lisa: talking about how he needs to manage risk and at the time of terrible visibility. he thinks the u.s. is the best place probably for growth and for ipo's and a host of other industries. the real question about whether m&a will be allowed to come back in a massive way. whether we get tariffs and what that will do. what national security provisions will do and how this affects businesses that consult with the likes of j.p. morgan in terms of what they develop and where. these are all massive questions. you wonder how companies are going to deal with that until we see other types of cash build are hesitant to engage in big actions because of it. jonathan: corporate america. what does corporat

let's get exclusive conversations with jamie dimon sharing thoughts on the recent market momentum. he spoke with bloomberg rates host lisa abramowicz. >> a soft landing so hard. i hope it happens but i would not count my edits for that one. the markets, values are high, not low, both equities and bonds. credit spreads are very low. they are open but not open for ipos. the largest of the year, last week, they are open for those the markets wants to buy today. don't assume they aren't open. sometimes people go public and don't like the price. that's different. you think you know a company is worth more than the market might know. lisa: you said there are a lot of inflationary things coming down the pike. was it a mistake for the fed to cut by 50 basis points? jamie: no. separate the here and now. inflation is definitely coming down. they don't want to go into a recession. unemployment is going up. they raised rates rapidly to 5%. they are right to take the foot off the gas. i do not think it matters much 15, 25, honestly, but it's ok. if inflation comes back i am looking at different

i made some calls and found out jamie dimon was having a change of heart that i was wrong again.ion and we start pulling the trajectory of some of the public comments and whether same behind the scenes of that test him but david solomon the ceo of goldman sachs and they are all starting to squeak out to is one way to put it apart from my presidency that they got maybe two -- reese because he with the fact that kamala harris went ahead early on and now they're worried that their momentum appears to be shook -- shifting towards promoter dave and greg are the kind of don't really want as an enemy if he's president particularly if you run a highly religious -- regulated so they're all trying to put the genie back in the bottle. those are the two examples are used in my "new york post" column. there are many others and there are people -- people are preparing now for donald trump residency which looks, you know, when kamala burst onto the essentially booted jill biden to the side and, you know, she started getting all this positive press, or poll numbers went up i mean she was, like,

there is no set successor for jamie dimon right now.g in the process because it's always been thought that he's going to, you know, stay around for a few years, until he's about 70. i think he's 66 right now. but again, if he was going to get that, if he was going to be offered a job of any of the two, the it's definitely harris even though trump keeps mentioning his name. and i don't think it's going to be treasury secretary. it's going to be that job as the head of the national economic council which is, you know, a big job. larry kudlow had it, gary cohn had it. it is powerful. you're right there. you're in every decision, and you're in the white house, but i don't believe it needs senate approval, and that's a good thing because elizabeth warren with is so anti-banker. now, the question would be, would he pick ken chenault over, you know, am-ex isn't exactly a non-financial institution. i just think he's not a bank bank, you know? it's a credit card company. h liz true. >> so that's where i think we are. liz: so interesting. charlie

. ♪ ♪ >>> tonight in monday, power, and politics, the battle for jamie dimon's endorsement is hot yetin. according to the "new york times," he's privately supporting vp harris's presidential bid. the paper also notes that he might be open to a role in the harris administration. remember, just two weeks ago, former president donald trump claimed jamie dimon was backing him. .to jpmorgan immediately after that. they said that wasn't the case. that he was endorsing no one at the time. when it come to how voters feel about the candidates and the economy, kamala harris is starting to catch up to her republican rival. in a new ap poll found that they trust her more to handle middle class taxes, housing, jobs, and unemployment. but donald trump still has a slight edge on his favorite thing, tariffs. the of cost of groceries and ga. i bring in the host of the podcast, and peter goodman, his first visit to "the 11th hour." and the book, how the world ran out of everything. inside the global supply chain. what is your takeaway from that poll? i'm always amazed that donald trump still remains on

very happy to have the endorsement of jamie dimon. oh, jamie dimon's endorsement, isn't that wonderful? he made that up. jamie dimon has not endorsed trump for president. but trump went out and said that he did. presumably hoping that nobody would notice that he just made it up. i mean, if you're making your business decision on the election based on the perceived relationships between the candidate, healthy consultation between the candidate and business leaders, this is not just a theoretical thing. you do have stuff to go on, right? and a track record of it, like trump's big meeting with ceos that was organized for him by the business roundtable this summer. remember how that worked out? headline, ceos at trump meeting say ex-president is, quote, meandering and, quote, doesn't know what he's talking about.he former president donald trump failed to impress everyone in ae room full of top ceos this week, multiple attendees told cnbc. one ceo who was in the room said, quote, trump doesn't know what he's talking about. several ceos, qu

we heard from citadel securities and jp morgan's jamie dimon about the roadblocks for the ipo market. >> the negative side effects of being a public company as a result of regulations like the ones you are mentioning happening now are giving people longer and longer pauses. it probably also means, next time when you try to ask me -- not try, when you ask me, whether we are going ipo are not the answer will continue to be no. jamie: under the u.s. we made it harder to go public. we eliminated research into smaller companies. the costs are higher. litigation expenses are higher. filing with the sec is higher. i think we need to make it easier and cheaper to go public. sonali: jamie dimon also said it's partly private companies hope for higher valuations than the market will give them. it raises a question about how private equity can become appealing again without a robust market for exits. bloomberg surveillance anchor lisa abramowicz joins us with a guest on the issue. lisa: i am here with andrea auerbach the global head of private investments at cambridge associates serving around 58

jamie dimon said this year that the are alive from his ai investments is at $2 billion.ine: who else is making money? who else is seeing return on investment? everyone is desperate for that. alexandra: only two banks in the list of 50 are talking exclusively about are alive. that's jp morgan and dbs out in singapore. but this is going to ramp up. we think that in the next six to 12, maybe 18 months, really as ai use cases move into production more solidly and the pressure to show roi off of the investment ramps up, the roi is being measured internally by the banks and many are looking at how it is impacting in non-numerical and numerical terms but there will be a cascade of announcements publicly from six months to 12 months on. caroline: that is what is so interested about that -- interesting about the timing of the report, we just had banks earnings season. did you see early evidence that gets you excited for future reports of roi? alexandra: absolutely, absolutely. there were other factors around the rates and geopolitics, but four banks were asked about the ai strate

my point is they are prepared for him to get in there and it's funny watching giant and she jamie dimoninations right now, that's why i like wall street, they are fun to watch, watch them squirm you're making me squirm. charles gasparino. >> i would prefer silly apologize for using a bad word. my father used to scream at me every time i >> one day i gave her $20. covered me for 20 times. >> charlie, thank you. >> closing bell ringing in about five minutes and markets in the green and dow on pace to snap a five day losing streak and nasdaq on track to close. higher for about a fifth straight day. we're not quite at records, but we're getting there for the nasdaq and s&p and just a bit shy. big tech will be the biggy. joining me is capital management dan genter. thank you for being here, dan. i'm asking every guest on the program, of all the big tech this week, who's the most important? >> well, look, nvidia will continue to carry the ball. >> okay. >> they're out in front, they've been the leader all year, they've been pushing not only tech side but all of which avenue of the s&p. s&p up

speaking with jamie dimon at the tech stars conference in london to discuss ai, u.s.d more at 2:30 p.m. london time. opening trade next, this is bloomberg. ♪ ♪ ♪ with so much great entertainment out there... wouldn't it be easier if you could find what you want, all in one place? my favorites. get xfinity streamsaver with netflix, apple tv+, and peacock included, for only $15 a month. anna: good morning from london, i'm ann

i saw bostick's and jamie dimon's excellents yesterday, they were contrasting -- comments yesterday.g the fed should be trying to do both the unemployment rate and the inflation the rate for the country. that's too big to ad mole. -- a model. what the fed can do is defend the dollar, and it can the help with the production, the output of the u.s., by talking about it. talking about the supply if side. and on jamie dimon's side, he gave a list of really good points that would enable capital markets in the u.s. we're the superpower in the world in financial markets, and he pointed out you need to allow mid-sized banks to merge. the government is, you know, scrutinizing that. it becomes impossible. he made the point that you need to allow public listings and encourage them. we've got this big growth in private credit and private equity. it would be better to have quite a bit of that done by the banking system, but it's blocked by the regulatory controls that are on. maria: well, you make a great point, and jamie made a good point as well. all of this regulation is hampering growth. all

everyone's always on the edge of their seat to hear what kind of commentary jamie dimon delivers on the economy. he's been incredibly cautious over the last several quarters. we need to see how much money banks are setting aside for loan loss reserves. that's a huge issue. you look at small business optimism which unexpectedly dropped off a last month, that could be a big concern. adam, question for you, though. when it comes to inflation, obviously we get an inflation report this week and inflation's been looking rather benign but the fed is ayou dress i'vely cutting -- aggressively cutting rates, oil prices spiked back up, wages came in hot. are you concerned about a second wave of inflation? >> we think that's a pretty low probability event, something we have to watch for, though, especially with what's going on in oil markets. you see brent and wti moving higher, starting to reverse down trends, technically that's concerning, suggests we could see further upside. it's something we're watching. that's not our baseline expectation. we think it's really going to be about the labor mark

jamie dimon has not endorsed donald trump for president. that is a flat out lie. you can call up his spokespeople as reporters did and his spokespeople said he has not endorsed anyone. when trump was called out for this obvious, brazen lie, he then resorted to more line, telling nbc news i don't know anything about it and somebody put it up, no, i don't know. he responded, well then, somebody is using his name and the original post with the lie is still up, by the way. this is just a perfect example of how the trump republican party operates. today florida senator marco rubio, who once upon a time people called a serious dude, he called these new job numbers put out by civil servants, and other fake jobs report from the biden-harris government. baselessly accusing the white house of cooking the books and at some level it's not anything new. we've been living with this for so long, everyone knows trump and his maga cronies are liars, but there is a real danger here. lies are dangerous. they have a cost, like for instance most obviously the big lie of the election,

tom: that's an inflation view coming through from jamie dimon. we've had a number of fed speakers, what have they been saying, do we have more clarity? valerie: they are all talking about this balance of risk between inflation and unemployment. many are using this buzz word of balance we heard from jefferson yesterday saying the risk has been roughly brought into balance. we also heard from adriano kugler yesterday talking about this balanced approach. we heard from boston's fed president susan collins, take a listen. susan: looking ahead, preserving the favorable conditions will require adjusting monetary policies so as not to unnecessarily restrain demand. that will require a careful databased approach as we balance the risk. there are risks on both sides. >> this buzz word of balance is catching the markets i because we do not want them to talk about the risk to inflation being in the upside that would dent the equity market. let's look at how equity markets have behaved. we are very close to all-time highs, just a quarter of a percent away. s

stuart: this is from the new york times and very interesting for investors and jamie dimon, top bankerhe supportedly supported harris. that's in private. and he says he would consider a treasury role in a harris administration. wall street would like that, mike murphy, wouldn't they? >> they'd like jamie dimon, but i think it would be offset by the fact they don't like or wouldn't like kamala harris' policies and how it would impact the market and the economy in general. stuart: i wonder what dimon thinks about the wealth tax. the first election vote, the first election to use a voting machine was in which year 1882, 1904, 1920, 1928? the answer after this. .. e call is free. and there's no obligation. you see, medicare covers only about 80% of your part b medical expenses. the rest is up to you. that's why so many people purchase medicare supplement insurance plans like those offered by humana. they're designed to help you save money and pay some of the costs medicare doesn't. depending on the medicare supplement plan you select, you could have no deductibles or copayments for doctor

i wrote weeks ago that jamie dimon was telling people, kamala harris, polls start to change. it is neutral. what he said recently about regulations, too much regulations, they are calibrating their messaging but here's where it gets dicey. not a stats guy, i know about both, the trend line is breaking trump right now continuing the next week but if you talk to the trump people, their internals are strong on an electoral college basis, there are people that are undecided in a handful of swing states, naturally inclined to vote for trump and that is what stats are saying. what do i know. i don't care much about the betting odds but i talk to a lot of people, they say not based on poly markets or the betting odds but based on their internal polling. this is interesting. i do think it is a strategic error. the last guest about kamala harris using the words fascist and nazi. she doesn't do it anymore. she tested it and it came back, a back lash, people saying hitler is like the historical anomaly that you can't compare anything to hitler much less a guy whose daughter is married t

it is noteworthy that jamie dimon is a registered democrat.he times saying that he's not being vocal and public about his support for harris over fear of retaliation. that was what was dominating conversation here, that was the premise on which him he was choosing to keep silent over concern of potential retaliation against not just him but the public company that he leads and potentially shareholders by extension as donald trump has not made secret his feelings of retribution. we were just hearing the interview from earlier this month in which he talked about not just the withholding of an endorsement, which he has not made publicly, but some of the ideas of what he would like to see out of a future administration including potentially representing on the cabinet someone from the private sector or someone from the opposing party of whoever the president is. on that note, we have seen harris supportive of that idea, on multiple occasions saying that she would consider report -- appointing a republican to her cabinet and she has been campaignin

morgan's ceo jamie dimon speaking with lisa abramowicz. in the markets, we are tracking china.n about 6% right now. it was down as much as 7%, reversing all the gains it clocked just yesterday. csi 300 index down about 6% as we speak after a wild trading day yesterday, set for its first loss in 11 days. a clear message traders are disappointed with the press are showing no fiscal stimulus announced to back up the monetary measures that have been implemented. the hang seng index down 2.2%, extending the loss it clocked yesterday as well. for the year, it is up about 20% or so. in terms of the chinese yuan, 7 .0682. in terms of looking at commodities, also under pressure on the back of that lack of stimulus from china. shanghai crude down 2%, copper down by 1%. plenty more ahead. keep it here with us. this is bloomberg. ♪ haslinda: markets on edge, china in particular, let's check on how markets are faring with avril in singapore. it's about china and hong kong impacting sentiment. avril: look at the picture as we head into the lunch break. i wish i had better news for you but we

i love jamie dimon. jamie dimon. i think he's a great ceo. his diplomatic.ge, a lot of people say this rally, and with all that it's a rich market. it's very rich. >> historically the stock market trades at 18 p, price to earnings ratio. that's the barometer of something is expensive or cheap, we are at frothy are levels, the biggest -- not like the dot.com, we are not building contact lenss for chickens in south africa. one hundred multiple is the next best thing. the biggest thing why the market is moving the way it is isn't because of jpmorgan's earnings or because it is rainbows and butterflies but because there's a new sheriff in town and that's jerome powell. when he cut rates a few weeks ago -- i was one of the front runners saying that in may and june. i didn't think he would do 50 basis points. you can't have the greatest economy, greatest jobs numbers and all of a sudden say we will cut 50 basis points which historically speaking when you cut basis points, you are signaling to investors in the markets there's an underlying problem. normally what wo

caroline: we hear from jamie dimon on ai and excessive interview at the firm's tech stars conferencen europe. coming up, we go straight to shares of roblox which are tumbling today after short seller hindenburg research says it is betting against the gaming platform, saying it has inflated key metrics and also focusing on a lack of safety for children on the platform. we go to bailey lipschultz for more. the accusations of people, of key metrics, time spent, engagement. what are the accusing here? bailey: that's the big thing. this is a new take from the short seller hindenburg targeting they are inflating some of those metrics to appease investors. we have seen long discussed issues with the platform and child safety. bloomberg had a big taken the summer entitled roblox, pedophile problem. those allegations from hindenburg that they have been inflating metrics, the company says they reject those. that is what is new. the company could, if you take it at face value, they are betting against the company and boosting the numbers to allay investor concerns that maybe they don't have the

the ceo, jamie dimon says his chances of being asked to serve in government almost nil.he will be treasury secretary. stuart: which government are we talking about? lauren: didn't specify. stuart: trump will hold a rally in aurora, colorado, seeing an influx in gang activity. is trump's focus on gang activity in that state? >> he will try to call out the democrats who are trying to downplay the issue. this is a campaign promise he made that he was going to come to aurora and talk about the immigration crisis coming to this blue state, storing up quite a bit of opinion. a lot of responses from the mayor all the way to the governor. here's the former president talking about it. >> they came from places all over the world coming into your cities and small towns, changing them forever and i would say ruining them, ruining your cities and towns including murderers, drug dealers, gang members, people from mental institutions and insane asylums. >> reporter: you might remember this video went viral. the city's republican mayor admitted to fox news they had a problem in the seve

jamie dimon has his finger on the pulse of the american consumer.bank accounts, the credit cards. that that commentary's key, to me. maria: yeah. all the major banks, certainly, we watch them closely for that reason. and by the way, jamie dimon has been negative and worried about the macro story, joni. if you had to characterize the macro story right now, joanie, how would you do it? >> i've been i saying for really two years this job market has been softening. and you look at that transportation and warehousing number being down for this month, we are going into hiring for the holiday season right now. things should be ramping up at this time of year, and we are just not seeing that job growth. so i'm concerned about the retail, you know, the retail season. and that's due, certainly, to inflation. people just don't have the money to be out there shopping and spending. so i do think it's a bit of a concern, and it's going to take us some time, probably getting past the election, getting into next year before we really see the employment market start

i want to play you something that jamie dimon said today when he was speaking of how strong growth ishave, and his own concerns about the deficit. we'll talk on the other side of that. listen, please. >> during covid, we gave a lot of money out. i think they did the right stuff to move early and quick, but i think it was clearly overdone which led to the inflation and things like that. but it's still that way, and now the deficit is 7%, the largest peacetime deficit we've ever had is $2 trillion. what i said is true around the world, and injust -- my concern inflation, in my view, may not go away so quickly. we might go into next year, 2026, where it starts ticking up a little bit like it did in the '70s. >> so, richard, instead of saying, yeah, the deficit's a problem, like everybody has -- we know it's an issue -- the question is, what do we do about it? how do we solve this problem as we had a report from steve liesman on how much the treasury is borrowing, how much they're going to continue to borrow, how we finance this ever-growing deficit, what do we do? >> let's put what steve

morgan chase chairman jamie dimon and amazon jeff bezos are not buying when investors are there sittingut the 2024 stock market rally despite the better-than-expected jobs report on friday talking about a goldilocks scenario, what do you think about the insiders not buying when everybody else's. >> that certainly concerning you mention phase is, jamie dimon and warren buffett is being cautious as well when you have stocks that are expensive trading at 22 times annexed 12 month routing and you couple that with a higher than normal risk for disappointment when you look at expected earnings growth for next year at 13% is very rare when you cut interest rates by 100 basis points or more that you grow earnings in the double digits that is ten or 11% let alone 15, when you have the two things together, positioning tends to be cautious as it relates to stocks, we certainly want to be watching and as i mentioned in the past we are positioned defensively because we don't know what's going to happen there are so many unknowns when you look at the election in the middle east and the fed rate cutti

morgan chase ceo jamie dimon said the federal reserve was right to cut 50 basis point, the yield on the ten year off 1.1 basis point sitting about 4% right now on the tenure we will preview ahead of the big banks on this earnings season this upcoming friday and vectors gearing up for inflation date of the september cpi consumer price index out tomorrow morning and the producer price on friday take a look at gold, silver and copper, gold and silver trading higher by about 1% on silver copper is trading down one half of 1%, the european markets are higher, s&p 140 points, cat con up ten points in the dax index in germany higher by 16, and asia markets finished mostly lower, china lowered the shanghai composite selling off better than 6.5% after a week of huge gains on the china stimulus back at home in recovery mode from hurricane helene and awaiting milton as kamala harris is on a media blitz with howard stern, stephen colbert, the view, she said she could not think of anything that she would've done different leave the past four years she said that on the view she's been involved in eve

but this is the same price that jamie dimon said they wouldn't be buying back stock 193, 225, 205, here i think price to earnings, it's not expensive. sideways action continues. >> what do you think of banks? >> bank of america could be an interesting one. we know buffett has been sitting on this one. we saw what happened when he stopped selling apple stock into the spring or so and the stock had one catalyst and it just took off bank of america has also lagged. that might be interesting into the print. >> do you think jamie gets more enthusiastic about the economy >> he hasn't been for quite awhile >> he hasn't, yeah >> but that's sort of a banker thing. he's been pretty consistent with that for a long time >> yeah, so no >> no, not really. he may say it's part of our business is good, we're doing this, we're doing that, but -- >> but in terms of the bank ceos that we will hear from starting next week, which one will you will be to most closely? i mean, jamie dimon, yes, but in terms of being an accurate forecaster >> yeah, i mean, i guess ultimately, i'm more interested in listening t

morgan jamie dimon were needed by geopolitical risks calling them treacherous and getting worse, slatestone wealth chief market strategist kenny polcari, good to see you, thank you so much for being here, what you make of the market this week, any takeaways in terms of how things look for year-end? >> i think the markets have actually remained amazing to me considering all the headwinds that are in front of us, geopolitical as well as economic the cpi and ppi as you mentioned came in slightly hotter than the estatestimate but trended lowern you look at a plot under broad scale, the banks crashed it they believe the numbers out of the water, it is all very exciting and we saw the market responded i actually think what the fed has managed what appears to be a soft landing there is underlying concern of what the next move will be in november. 25 basis points twice of november and december, we see the short and, the yield on the ten year is around 4%, rates have gone up, they are going to test long-term resistance which is about 4.16% that would be the turning point of how investors react to ri

earlier today, jamie dimon mentioned this spending and other issues at the american bankers association in my view may not go away so quickly. it might go into next year or 2026 where it starts ticking up like it did in the 70's. huge fiscal spending. the re-militarization of the world, the green economy, the restructure of trade. we see a lot of inflationary things in front of us. ♪ katie: welcome back to bloomberg markets. a wall street veteran who coined the term bond vigilantes in the 1980's, he says the approaching u.s. election could see them return. this comes as the u.s. treasury readies its funding announcement. >> if we get a sweep with either the democrats or the republicans, the bond market will conclude that nothing will stop either party from spending a lot, maybe cutting taxes a lot for some folks and not others and all in all, continuing to widen the deficit and the debt. meanwhile, interest payments continue to accrue. katie: let's keep the conversation going with ira jersey of bloomberg intelligence. are the bond vigilantes coming back? should i be scared? ira: they ha

. >> why is jamie dimon telling people he is voting for kamala harris?t say it outloud. >> he used to donate to political figures under his own name, right? now he doesn't. his wife does. he doesn't. why? because -- >> he literally is hiding behind the women. this is everything happening in this moment. >> warren buffett used to literally throw rallies for hillary clinton. public about how he didn't give away his right to vote or support candidates. this year he said, i am not going to get involved in the -- the country is too tribal. >> it's also because in jeff bezos' case, he wrote the op-ed monday and said there is a loss of trust in the country, doesn't matter who either -- there is no loss of trust on both sides. the reason there is a loss of trust in media is because for the last 30 years far-right wing media, roger ailes is laughing from hell, they created this loss and trust. as donald trump is telling you i am going to -- pennsylvania and this election is rigged, those lies have been told over and over day in and day out for the last 30 years t

we're also hearing from the head of jpmorgan, jamie dimon. he according to this reporting, is too afraid of blowback to say publicly that he has supporting harris, but that he is going to vote for her if these powerful men are afraid to speak publicly and openly about who they're going to vote for and why what does it say about the role of fear in our election >> i, we've seen it on the campaign trail the entire time, right? you will not have a country anymore. donald trump says things to incite fear, to incite resentment, to make people think that he is the only one who can save america barca. what in truth, democracy is about all of us coming together. there is no savior in this. this is all of us being a part of this project of america. and so for the business leaders, whether we're talking about jamie dimon or just anyone in general. this is about more than the dollar it's about more than protecting your business interests. we are talking about the ability to be able to do business, right? to do the business of democracy, going forward an

jamie dimon of jp morgan sitting, bloomberg's lisa abramowicz -- sitting down with lisa.q up by .4%. a headwind building in the yields market. that move sticks on the 10-year. dani: equities had the biggest a of selling in one month with higher yields. it's the idea that the bond market had to recalibrate. the fundamentals of this economy were stronger. maybe the equity market was already pricing that in. it needs to worry about the old hat of inflation. what is that mean for thursday's cpi report? will have to worry this can upset risk assets? it's a familiar and uncomfortable position to be back in. jonathan: brent crude briefly reaching $80 a barrel. quite a five-day run, the biggest five-day rally going back to the spring of 2022. annmarie: the reason it's red is because people were expecting this draghi moment of a china beige book. this morning they are waking up to the demand that maybe is not coming back fully in china. the story is a geopolitical one. this week we will see the israeli defense minister. what is tehran given terms of that retaliation? does that imp

no matter what jamie dimon did or didn't do. he's not substantive.eed banking. he's going to say his daughter's, you know, a you know what and i'm going to punish his company. >> the thing about autocratic capture is the autocrat will come for each of these people at a time of trump's choosing, not theirs. but they will eventually come for them. and the two words that i would say as a reminder to the jeff bezos of the world are mikhail khodorkovsky, who was the wealthiest, most successful businessman in russia and tried in various ways to try to accommodate what was happening in russia but ended up finding himself stripped of his businesses, exiled and ultimately jailed. because there's no way to win this fight with the autocrat. all these men i think are doing is delaying the reckoning that's coming for them. >> we all want to get in on this. i'll sneak in a quick break. i'll let you wear your yankees hat on the other side. don't go anywhere. kees hat on the other side. don't go anywhere. , covid-19, and rsv. vaccines lower your risk, so you can kee

but despite market enthusiasm, many are urging caution, including jp morgan's jamie dimon and bridgewaterray dalio. according to a recent survey by the national association for business economics, nearly 40% of professional forecasters say that a monetary policy mistake by the federal reserve is the biggest downside risk to the economy in the next year. 23% say next month's presidential election is the biggest risk, and an equal number cite the escalating conflict in the middle east. but these risk factors don't seem to have dented investor confidence here on wall street. after the united states, brazil is the second—biggest economy in the americas. its recent growth has been driven by a robust agribusiness sector, with brazil leading global exports in commodities such as soy, sugar, coffee, orange juice and cotton. with a territory nearly as big as europe, the country is also reaching minerals, ranking second to china in iron ore production and also excelling in the production of copper, aluminium, niobium and other minerals. as the seventh most populous country, brazil represents a sign

jamie dimon privately said he supports kamala harris and would consider a role in her staff, perhapstreasury secretary. sources told "the new york times" that the selection is close to a disqualifying factor as reported by "the new york times." from deutsche bank, it's a beat in terms of the fixed income and currency sales and they are weighing up a buyback on back of a beat coming through in terms of the investment banks so buyback approval has been sought in deutsche bank. an interview with the c.e.o. on it's our son, he is always up in our business. it's the verizon 5g home internet i got us. oh... he used to be a competitive gamer but with the higher lag, he can't keep up with his squad. so now we're his “squad”. what are kevin's plans for the fall? he's going to college. out of state, yeah. -yeah in the fall. change of plans, i've decided to stay local. oh excellent! oh that's great! why would i ever leave this? -aw! we will do anything to get him gaming again. you and kevin need to fix this internet situation. heard my name! i swear to god, kevin! -we told you to wait in the ca

he puts on twitter -- or on social -- on his social media platform that jamie dimon is endorsing him, that's not what happened. jamie said some positive things about trump. someone posted on twitter that jamie endorsed him and trump, in effect, retweeted it. >> but someone who cares about truth, the deere example, because that's as black and white as they come, what do you think of that? >> i think there are many examples of trump convincing or threatening a cup that if they open a factory in mexico, he's going to tariff their goods and maybe it scared the company. but he's -- hold on. i want to make my own argument. >> you can. >> you get to do it all day. >> there are lies on both sides. >> vice president harris puts stuff out about trump that are completely false for example, he's going to sign a federal abortion ban he's not going to sign a federal abortion ban in capital letters, he said it publicly, posted it. i can give you multiple examples look at her twitter feed, x feed, it's a series of lies about president trump. again, i look forward to a world, maybe it's four years fro

jonathan: fantastic exchange between lisa and jamie dimon. catching on bloomberg.com and youtube.ricing in election risk. >> if this period, the weeks before the election when uncertainty is highest, that leads to higher volatility, market weakness, and the flipside is after the election, uncertainty moves lower and stocks rise higher. jonathan: that conversation next. live from new york, this is bloomberg. ♪ you know what's brilliant? boring. think about it. boring is the unsung catalyst for bold. what straps bold to a rocket and hurtles it into space? boring does. boring makes vacations happen, early retirements possible, and startups start up. because it's smart, dependable, and steady. all words you want from your bank. for nearly 160 years, pnc bank has been brilliantly boring so you can be happily fulfilled... which is pretty un-boring if you think about it. (♪♪) ♪ well i was raised by careful hands ♪ ♪ yeah, they made me who i am ♪ ♪ so i'm off to see... ♪ we invent them. we design them. we build them. and one day, we have to let them soar. ♪ i'm always coming home ♪ jonath

they don't need this right now. >> and another lie, the jamie dimon endorsement.icant. it's a flat out lie. >> andrew ross sorkin. where does he get that? >> i don't know where he gets any of this stuff, but i think to your point the -- just the amount of misinformation and the attack on just truth and the attack on what is real creates a genuine problem in this country because if you have somebody of his stature telling the public that there's an individual like a jamie dimon who is endorsing him, and then -- and people are going to believe that, and then, of course, jamie dimon has to come out with a statement saying, this is not true. what do you do? you know, we had jobs numbers last friday, these were great jobs numbers. we now have people like marco rubio and others questioning whether the numbers are real. whether the bureau of labor is actually providing accurate statistics. if we can't believe these things, if at every turn there is going to be an effort to undermine this information, that i think is being brought to us in good faith, and, by the way, the