we have one citigroup and jp morgan shareholder pushing to do just that.hough for investors? he joins us along with mike mayo to make his case. as we head to the break a look at the s&p sectors today lead by industrial materials and energy. dow is positive on the year. s&p is up 11. halftime report is back after this. the e-class has 11 intelligent driver-assist systems. it recognizes pedestrians and alerts you. warns you about incoming cross-traffic. cameras and radar detect dangers you don't. and it can even stop by itself. so in this crash test, one thing's missing: a crash. the 2016 e-class. now receive up to a $3,000 spring bonus on the e350 sport sedan. ♪ ♪ for your retirement, you want to celebrate the little things, because they're big to you. and that is why you invest. the best returns aren't just measured in dollars. td ameritrade®. >>> hello, everybody. i'm sue herrera. the united states says isis is committing religious genocide. secretary of state john kerry making the announcement using the administration acronym for the group. dash. >> dash

jp morgan chase, the biggest bank by assets, told us operation choke point had nothing to do with its decision lenders. there are critics who say pay day loans are not a problem, they're a solution to a problem. coming up. >>> one in six american at all times are thought to be living with student debt and 90% of the debt is owned by the u.s. government. right now if you want to refinance your federal student loans you have to try your luck with a private lender but the terms can be strict. many applicants get rejected. our correspondent has the story. >> reporter: this man shares a tiny studio with his fiancee in new york city. he sticks to a tight budget to keep up with his student loan payments >> my student loan is more than my total, $2,000 a month. >> reporter: he is one of 40 million americans paying off student loans. the u.s. government profits handsomely from those loans. it charges all borrowers the same interest rate. federal data shows it will earn 66 billion dollars in loans issued between 2007 and 2012. the private sector wants a piece of that growing money pie. unlike m

jp morgan itself is up 7. goldman and morgan stanley are up nicely as well. >> we see the buys that have worked as well as they have. steve wynn is one and jamie dimon is the other. it was $34. why did he buy them? a million shares at 34 dollars? the multiple. the premises he negative rates. that's his big premise. if you believe that he's right and the banks have issues. i don't believe that and i don't thi jamie believes that and janet yellen doesn't even know if it's legal so why are we going to strong on the premises that we're going to negative rates. we have known for a long time the fundamental story and how much the regulators are killing these poor guys and yet they continue to show up every quarter and if you look at the last quarter the financials put in a pretty strong quarter i thought. >> i'll tell you who thinks that bill gross is wrong. that's mike mayo that sent this e-mail to us just a moment ago and says the following. this is an epic disconnect between sentiment and bank fundamentals. i cou

jp morgan chase, the biggest bank by assets, told us operation choke point had nothing to do with its decision lenders. there are critics who say pay day loans are not a problem, they're a solution to a problem. coming up. >>> evidence year 12 million-- every year 12 million americans borrow money from a payday loan lender. it has attracted fraudsters on the internet. the department is clamping down on electronic fraud with a program called operation choke point, but some critics say that operation choke point is, in fact, an overreach by the obama administration and it is going after legitimate law-abiding businesses. discussing this is my guest. good to have you on the show. thank you for being with us. when do you represent? lenders? >> that is right. a lot of our brick and mortar lenders have a payday component, but our trade organization represents the brick and mortar lender >>> payday loans have horrible annual rates, they're not meant to be thought of as a margaret or car loan or student form. the average rate of the online payday line is 652%. the woman in our story was payin

jp morgan chase is donating $150,000 to the philadelphia youth network to boost its summer jobs programç jim kenney said it's no just a money-making opportunity for the summer. >> whether it's in low skill work or whether it's in i.t. or banking or law or exposing our young people to every possible positive example they can have. >> jp morgan chase teamed up with philadelphia's democratic national convention host committee for the summer jobs grant. >> now your nbc 10 first alert weather. >> 64 degrees right now. a warm start at 4:26. we're waiting for rain to start falling in philadelphia. it's already coming down in some of the suburbs. your hour by hour forecast just ahead. jessica boyington is watching your first alert traffic on a friday morning. jessie? >> that's right, bill. we're watching route 73 right now. just seeing if there's any backup approaching the tacony palmyra bridge and there's not. that's because there's no scheduled bridge opening at least for right now. we'll keep you updated on the area bridges. i'll check in with construction spots when i come back at 4:30. >>>

jp morgan chase is donating $150,000 to the philadelphia youth network to boost its summer jobs program kenney said it's not just a money-making opportunity for the summer. >> whether it's in low skill work or whether it's in i.t. or banking or law or exposing our young people to every possible positive example they can have. >> jp morgan chase teamed up with philadelphia's democratic national convention host committee for the summer jobs grant. >>> if the ppa issued you a parking ticket yesterday, you might be able to fight it. here's why. parking city kiosks would not accept credit cards between 3:30 and 7:30 yesterday. they set a 15-minute grace period so you could get money to pay to park. if you got a ticket within that 15 minutes, you can tap the nbc 10 app for details on how to fight it just search ppa. >>> they are battling each other. >> yes. it's a friendly competition to see who can lose more weight. derrick sawyer and deputy police commissioner myron patterson stepped on the scale for a ceremonial weigh-in at city hall. it marks the kickoff for the 30th anniversary weight wa

that is exactly what jp morgan is doing in new york city. talk about how things are tried to keep up with their competitors. barclays chief economist weighs in on challenges ahead of thursday's key meeting. ♪ ♪ abigail: welcome back to bloomberg markets. i am abigail doolittle. we have the nasdaq with its fourth reversal in a row. if nasdaq finishes higher on the day, it will be the first five-day winning streak since 2015. one source of strength is biotech. up sharply.index is this is reiterating the idea oft the fundamental can up one its rating. another boost to the nasdaq is ntel, right behind gilead. intel is likely going to supply apple with the modem stock for its new iphone. it is important to remember that he gave a modest side to the fourth quarter. more selling's could be ahead for intel. now more bloomberg markets. ♪ scarlet: you are watching bloomberg. i'm scarlet fu. this is your global business report. here is what we are watching. china wants consumers to spend more. it is giving them a tax cut, american-style. what else can

. >> rose: a bank like jp morgan, wells fargo, i would d they'll say we didn't failil, >> they didn't008 because the american people stepped in, and they're kidding themselveses . >> rose: jamie diamond would say we didn't need the money you gave us. we didn't want it, and you made us. you know it's true. hank paulson made him take it because he thought the crisis was so deep that everybody had to be part-- >> of the solution. >> rose: am i right? >> that is true. however-- and i like jamie diamond personally and i'm not here to demonize anybody-- but if all of jp morgan's trading partners inspector bankruptcy, they would be in bankruptcy, too. so the notion that they were strong at that moment was only true because the american people stepped in to save all of their friends around the table is there could it happen again? >> sure, it could. these things repeat themselves and the problem is, and why i feel some urgency now, if we don't take action now while we still remember highway devastating the crisis was, we're going to forget. and then 20 or 50 years from now it's going to happe

joining us from london, the managing director and vice chairman of asia pacific at jp morgan chase.s. >> thank you for having me. >> so about the health of the chinese economy, it was interesting to me real estate was also down in the most recent trade and i believe we have had a prominent mayor warning about increased leverage, about reduced down payments. is the overall economy even at the consumer market shaky? is that reflected in some of what we're seeing even in real estate. >> there's the property market as an example. they're booming in beijing, shanghai, shenzen but in lower tier cities there's a lot of oversupply so there's a lot of leverage in the system. gdp has been growing but debt has been rising at a faster pace. you also mentioned the trade picture. today the export numbers were quite disappointing. however we'll have to remember there are some seasonal factors. the month of february was very short because of chinese new year. the market was shut for the entire week during chinese new year so if you smooth out the seasonal factors i think going into marchand april t

aig, the ceo of comcast have all come from jp morgan chase.e praised the branch of that bank saying he is trying to build similar talent at barclays. he already brought over a few people from jp morgan include a risk manager that will run their stress test. they're hunkering down and trying to get to the bottom of the cultural issues and legal issues and for now they're staying put. guys back to you thanchts . that is kayla in london. important story for us today. stocks trading near session highs. dow up 222 and the s&p at 1961 is the highest since january 6th. >> it's lifted europe as well as you can see quite a broad based rally. that rolls it at the moment. you're coming down to a level of unemployment but if you hook at the mark managers index it's the final read. you have these prices accelerating to the down side within manufacturing now at the fastest rate in almost three years so market is talking about a sluggish recovery if not actually tipping back in the other direction although we're talking about manufacturing which of course in

we like the jp morgan and wells fargo best and morgan stanley and goldman sachs. >> here we are at thef the five weeks of rallies, five weeks of gains for the tomorrow. we quoted you in the tease as saying you think the rally is just getting started. >> we've been saying buy -- >> you said five weeks ago. >> we were on the air saying buy aggressively on the dips. we think it's going to be a 9 to 11% year with a great deal of volatility. we had a 12% jump. we think it will slow down and you'll have ups and downs, the next 5% pull back, when things look very bad, usually you can put money to work and make money. we wouldn't chase this rally. when there's a pullback, buy because stocks end up 9, 11%. >> would you go with leaders from the recent lows, materials and industrials and transport kind of names or a space like health care that's been harder hit? >> we think the industrials that have started the turnup will do better. so we like a company like johnson controls and united technologies. in terms of health care, much more selected, a gilead will do well and zimer. we wouldn't buy it

that is the foundation for the jp morgan. it is a contrarian fund. we want to get certain signal such as insider buying's from the executives. are they taking a chunk of their own paycheck and putting it down, saying we believe in our company and valuation? we look at valuations and purchases. the board of directors authorize purchasing. we are not going to spend money on m&a, forgo growth capex. the cheapest thing we can do is to buy back our own stock. and in doing so reduce the share count. vonnie: you look at the behaviors of the executives and the investors. in addition to traditional value , where have you found value in a market that has been grinding higher and higher? david: there is always idiosyncratic risk. it is easier to find broad base value in august 11, the great recession, the summer of 2012 when the euro was splintering. we find that the being a high conviction manager, holding a limited amount of stocks, there is enough going on at a particular company to which the investor base will overreact. to which, most likely, the insiders

someone fromg to jp morgan. what does this tell us about china and the global economy?uest: it has been pretty volatile, particularly during the chinese new year. rishaad: this is every year. guest: yes, every year. if you look in the fourth quarter, the global economy does not perform very well. u.s. economy grows only 1%. why we see january data as pretty disappointing. if you look at recent policy measures, china has been emphasizing more on the domestic front, rather than relying on external demand. as you have a rebalancing taking place, it doesn't really reflect what's going on on the import side anyway, whether it will be more service-oriented. guest: if you look at the impulse side, obviously it is affecting -- domestic demand is pretty weak. that is in the background of the rebalancing of industries. external demand is more or less on the soft side. the global trade never goes back to the level we saw before the crisis. rishaad: tell me something. where do we go with monetary policy? told it actually even work get people out there, spending more money and becom

consider selling yourself to jp morgan?i think jp morgan would probably argue that the benefits of this technology are greatest when they are adopted by more than one party. it is part of our strategy that the technology developing is at least in part being developed in the open source community, which means it is available to multiple parties, including to our competitors to build solutions. reason why we are doing that is to promote the charters of standardization, which makes adoption a less risky proposition for early users. any of ouran or other customers, the idea of having a partnership, where there are multiple users of the same infrastructure is more appealing than a proprietary controlling. >> is not to one of your clients, your partners, why not to a massive technology company? theyas spoken on how believe in this type of business. would you look to sell to ibm? >> honestly, we're not looking to sell at this point. the goal for the midterm is to build a business and deliver the product. what will come after that,

jp morgan, look at that gain, up 3.9%. we are backing off the session highs of "power lunch" we'll be right back. >>> more headlines now from fbi director james comey's testimony on capitol hill. let's get to eamon javers. >> hi michele. fbi director james comey testifying here. they are taking a quick break here for votes on the house floor. just before that break comey was in an interesting dialogue with congressman darryl icea of california. icea seemed frustrated that in his view it looked to him like the fbi hadn't done quite enough to figure out whether or not it could get into this disputed i-phone on its own. >> i came out of the securities business and it defuddled me you haven't looked at the source code and you don't understand the disk drive at least to answer my rather dumb questions, if you will. you are ptd anding somebody to obey an order to do something you don't want to do and you haven't figured out whether you can do-it-yourself. you just told us you can't do it. but you didn't ask for the source code a

pthey include apple, jp morgan pchase. pberkshire hathaway with warren pbuffet's company wells fargo and psciences. pof top 5. pthat's right. pa total of just 28 companies out pof 462 took more than 50 percent pof the profit last year. pthe number one most profitable pcompany apple. pit's net income, net income palmost $54 billion. pat almost 7 percent of profit. pthe next closest was jp morgan pchase the financial firm. ulling in 24 billion. pand taking 3 percent of the rofit. pso what does all this mean? pfirst off it means smaller pcompanies are strug willing to pturn a profit. pthen there there will be fewer pchoices like you and me. p>> it also means that those top ptier companies have more sway. pand more money to use olitically. pthey control the prices. phowever, analyst do expect a pbetter year for companies with pthe improving economy. pand the higher oil prices. p>>> thanks laura super tuesday pclaims a casualty. pben carson has unofficially pbut he says there is no path pforward for him. pthis is the rest of th

in the meantime, jp morgan or jp morgan cast november as extended u.s. equities.ore broadly into europe saying the rallies are an opportunity to reduce your positions there, in part because the politics will get messy from here. and also because they believe that technically, we are overbought. there is a real concern about what is happening in italy and whether or not the italian economy will go back into recession effectively for a fourth time, quadruple dip if you like. the prices were down for an eighth month today and we got data at the end of last week, suggesting the economy barely grew in the fourth quarter. and at the end of the day, the italian banks are effectively in accelerated or multiply play on the local economy. they are down. other banks are also down. did well last week, a good bounce there, as we await what the ecb will do with negative rates on thursday. the bank of international settlements over -- the bankers bank was quite critical of negative interest rates and raise again that question as to whether there is now a faltering confidence tha

jp morgan chase and citibank were among those affected, according to the indictment. there is a power struggle viewing over the -- brewing over the future of yahoo! one of the company's largest shareholder wants to remove the entire board, including the removal of chief executive marissa mayer. the hedge fund says that she and the board have repeatedly failed investors. yahoo! shares have fallen by more than 20% in the past year, and the firm is struggling to keep up with rivals like google and facebook. shares of a dutch football team sword on thursday. at one point, the team's market value has soared by 700 million euros. a number of investors placed orders on the news of johan cr uyff's death. the tribute lost some steam toward the end of the trading day and shares finished only slightly higher. still, a pretty good sentiment in the markets. investors were literally "paying" tribute. catherine n.: we have some lovely tributes from footballers as well. messve seen pele, leonel messi.el diego mayor hidalgo -- diego maradona said, "we'll never forget you, skinny." sta

one new york city's most famous and beloved institutions, founded 145 years ago with the likes of jp morgan and theodore roosevelt. it features attractions millions of years old but has a whole new way to discover them. >> wow, this is a game inside the app. >> where is it? >> if you hit the button on the bottom it will take you to it. >> reporter: amelia and her dad are using the museum's new explorer app. >> it knows where you are and what you're interested in and presents the world to you through the lenses. >> reporter: 5 million visit every year navigating 1.6 million square feet. >> let's find out. there you go. if we want to see the star of india, tells you where to go. >> reporter: there are 45 halls from mammals to sea life to dinosaurs. >> lots of extra content you can't get from looking at the diorama. it comes alive. >> we wanted to give you something more on the label. we joked it's like having a friend who works at the museum. >> along with the app the museum is embracing afterschool educational programs for kids and courses for educators as well. ellen has been at the helm fo

clear exchange is owned by boa and jp morgan chase as well. are pointing higher at this point, stocks snapping a five-day winning streak yesterday. being pulled down by disappointing economic data out of china. also a drop in oil prices had an impact. today is also the seventh anniversary of the start of the current bull market since bottoming out in march 2009 when the dow is up 159%, while the nasdaq since then is up about 266%. tuesday the dow fell 109 points. we're looking at 16,954 is where it's kicking off today. the nasdaq losing 59 points to 4648. back to you guys. >> thanks, susan. >>> now your nbc 10 first alert weather. >> well, another mild start to your day. maybe a light jack net morning. this afternoon, record high temperatures in the forecast. here's a live look at boathouse row. let's get a check of the roadways with jessica boyington. >>> we're watching the lehigh valley right now. no problems on 78. we are starting to see folks heading out the door on lehigh street. more checks on the drive times in your morning commute with

that's what jp morgan strategists are telling clients right now. even though the s&p 500 is around 4%, 3.5% lower than the beginning of the year, expected earnings for s&p 500 companies for the coming year are now lower as well. according to this report, earnings estimates for s&p 500 companies are down 6.2%, they've fallen more than the overall market. even though the market is down, expect that earnings are down more and that's going to be a big key, hence the more expensive the market is today even though it was higher earlier this year. this concern over corporate earnings and sales is nothing new. acou we've had two straight quarters of earnings declines and important to note, while some traders and investors look at these forward priced earnings ratios because they are forward looking, those figures are derived from analysts estimates, no one can predict the future but they try. you have to be comfortable how accurate you think those forecasts will be but still if you told somebody, guys, that right now the market is more expensive than it wa

. >> david kelly with jp morgan funds, and jack, we apologize for the technical glitch. >>> some positive news today. if you're looking for a job, the number of job openings rose to more than 5.5 million in january. the labor department also reports that actual hiring to the lowest level since late 2014. a separate report showed that initial claims for state unemployment benefits rose from a five-month low by 7,000 last week. despite the rise the level is still consistent with a strengthening labor market. >>> the current account deficit which measures the flow of goods, services and investments in and out of the country narrowed in the fourth quarter. but for all of last year the deficit jumped to its highest level in seven years. weakness in major overseas economies and the stronger dollar have reduced our export sales. >>> investors are always on the hunt for yield, even in an up market. the most popular place to find that income is with dividends. but as mikef santoli tell uz us dividends have always been an important driver of investors' long-term stock returns. with interest rates l

jp morgan chase. the biggest bank in america and that is their earliest history. we got rid of a lot of malaria before we had solid biomedical solutions by changing our land use policy. we started building dams but the h people on the board of the dams to make sure we didn't extend the mosquito habitat. people started putting screens on doors and windows. we lifted people from poverty in the rural areas giving them electricity and mechanisms on their farm. we built it out. this is before we had specific drugs to deal with malaria. this created an establish that was potent at curing disease very effectively. we gave over public health to a biomedical establish. what happens when we have outbreaks of disease, we don't look for the social and political roots. we wait for the epidemics to erupt, people get sick, and we hope we can throw sufficient vaccines and drugs at it to make it go away. that works for some cases but it is not sufficient for new diseases because when new pathogens come up we don't have the vaccines made or the drugs and these things can spread exp

jp morgan chase is planning more buybacks and what is the motivation for this?t is the same motivation for each of them. >> it has been low this year and it is a good time to buy back stocks and they can only request once a year to have the federal reserve give approval for buying back additional stocks, and this is really the last time they can do this because you have the and stress test coming up then some banks, bank of america, has said, we want to do this because we want to make sure that shareholders are not diluted because of incentive compensation. david: they have made the announcements that they are going to do this, but what does that telegraph or what does that tell us about how the federal reserve regards the state of banking with these two banks today? saying, these are fine,, but they say they don't object to these requests and proposals. so you are sort of implicitly seeing that that is how the market is interpreting that the fed is saying, yes, we are ok with this and they're healthy enough for this payoff. david: this became a rarer thing, in

ceo of jp morgan bough50 esesthock n $53.14 andnd53.3.3ithin pennies of the a a low.itas a b it was a bea stock at a bep moment i ithe markej i kn dia dt t t to catom. but looking back from e current price of $59.94, this well timim buyad more e do withhe prevavainininoooo thr and a haha weekska than the e condions at thbank not onlylys jpmorgan up since e then bututheheow lost from ,66017 a the&p from 8,129 to 2,002 today. wh a rararigher. let's set leleset e. stocks had been falling for a weeferom. many stocks were wl l th -wk ghs. pessae enof tdadally led by pf.n.g.g. the lastf the tech leadership had finally been ten out a shoto but e sell-off that awaited the rket the following week was about famore thahatech eags risk. wa a c clicask at t tt popot stemic rk d be the order of the day. eyays hthtin at wertheyey fifit, oil. by the of lastear most investors had me to bebeeve lowel icesldldow nsumum tend more thus s boosting the numbers of the service oriented cpa lthtaers.s. asas p fr the0s to e 30s the attitudeegan to gend w arted d ming ner abo e sko the financial system caused by

scarlet: we have seen with this go around, since february 11 ,hen jp morgan was disclosing that led toovery. we saw other banks indicated they bought back shares as well. that has all been fueled by this advance. tracey: this will be an interesting market dish. sorlet: petri dish sounds biological. i am looking at china manufacturing. how many different ways can you read it? there is a reading from kai shang that only goes back three years. that is the green line. and the satellite imagery. so looking at these, bloomberg space, which uses space imagery to track 3000 industrial facilities in china. people who doubts the government official data. alix: so you actually brought us manufacturing data from space. tracey: it looks better than the official pmi. scarlet: i am glad you bring that up. this gives us more time, you get an earlier read than the government read, and also it is indicating a shrinkage, but nonetheless. we would hear from mervyn king. that is next. ♪ oh, hi! micky dolenz of the monkees here, getting ready to host the flower power cruise. (announcer) we're taking the lov

. >> for more on the markets, asset allocations strategist at jp morgan asset management.fter five weeks this is a natural pause but given where we have come from, down 10% in february to flat now for the year should we make anything more. >> it's quarters like which remind us why central bankers as well as investors are so confused. it's on march 24th and a weaker dollar and roughly flat s&p and they took 50%. because of what february 11th. >> so do you think more is left of the stock rally that it comes from data that are getting better from the fed continuing to move and instill confidence that the economy isn't getting worse? >> so this is what it's about. data dependent are the two words that i use with clients all the time. if the data supports a tightening, they will tighten. what you saw in the beginning of this year with all the activity around emerging markets which were unloved and up 20% from january 20th, if you continue to see the credit spreads, the vix, the global equity prices as well as the dollar cooperating that's going to make it into another uncertain

and the leader of the dow at this hour, jp morgan. today's sector is energy.oing along with that oil. >> yeah, oil has reversed. when we come back, box ceo aaron levey one of the tech ceos speaking out in support of apple. plus the latest on apple's case against the federal government. what comes next after yesterday's hearing? and satellite television going online. more from at&t and directv when squawk alley continues in a moment. ♪ ♪ he has a sharp wit. a winning smile. and no chance of getting an athletic scholarship. and that is why you invest. the best returns aren't just measured in dollars. td ameritrade. >> this comes after apple and the fbi testified about the case on capitol hill. josh is live in san francisco with more. josh. >> well, john, this was a technical procedure that am says was meant to preserve it's rights. what is important here is that this objection filed last night will not change the schedule or proceedings before this judge. what is clear however is that neither side is willing to give an inch in this fight. the language got more h

one of the great movers, just checking five of the 30 dow stocks are lower and jp morgan is one of them. >> berkshire hajaway is takes wells fargo to 10%. >> buffett's berkshire hathaway had tody close that the stake reached 10%, that typically requires more regulatory scrutiny and in the case of banks, that means a case of the federal reserve and stake that large is usually deemed to be a controlling one. in berkshire's filing, it did no require the shares to exert control over the company. buffett said he had been buying more incremental stock in wells fargo and coca-cola and american express, the other two companies that make up the big four. the stakes increase because those companies had been buying back their own stock. of these big four, he prefers his holdings to be what he calls noncontrolling but substantial because the returns on equity range from excellent to staggering. the official statement from wells fargo, we value berkshire hathaway as a long term shareholder and customer and appreciate the confidence that the executive team has shown in wells fargo. it is not a new fe

ceo of jp morgan bought 50 shares of the stock between $53.14 and $53.30, within pennies of the act low. it was a beaten up stock at a beaten up moment in the market. i know diamond didn't set out to call a bottom. but looking back from the current price of $59.94, this well timed buy had more to do with the prevailing gloom, three and a half weeks ago than the conditions at the bank. not only is jpmorgan up since then but the dow lost from 15,660 to 17,773 and the s&p from 8,129 to 2,002 today. what allowed the averages to roar higher. let's set the scene. stocks had been falling for a week before the bottom. many stocks were well off the 52-week highs. in the priest week we saw the end of the nasdaq rally led by f.a.n.g. the last of the tech leadership had finally been taken out and shot. but the sell-off that awaited the market the following week was about far more than tech earnings risk. wasn't about cyclical risk. at that point systemic risk had become the order of the day. they are always frightening. what were they? first, oil. by the end of last year most investors had come to

is the level of con pp krshc concentration of political money we have not seen since the days of jp morgan. why am i finding myself surprisingly energized by the moment? there is more agitation and concern and wide understanding of the ways in which the system is broken than we have had in a long time. the book talks about this. in this election, we have candidates from all over the place addressing these issues whether it is bernie sanders talking about campaign finance reform being a central issue to donald trump with all things he is doing saying he is the only candidate on the republican side who can not be bought by contributions to gladly endorsing the person who wrote all of the voter suppression laws out of kansas. hillary clinton putting forward the most detailed and in many ways plans for voting reform and campaign finance reform than any major candidate has put forward in years. this is on the electorates' mind and therefore on the presidential candidate' mind. the biggest change that can make a difference is moving away from a ramshackle voter registration system. if we had uni

the last time it was above $100 a barrel was the day jp morgan announced they were leaving the oil market. i would keep a close eye on t aluminum trade when it comes to the materials market. as a subsecretary tore that's performed well today. i continue to go back to look at -- i want to look at gold as a currency, not as a commodity and look in terms of dollars as rick said. >> next thing you know cbs will sell radios or something. >> you saw the $9 billion build in crude supply and most of it is due to imports. the gasoline oils is of course stored cheaper. we're importing more than necessary but as long as that continues, rigs are still -- we're importing left and right. >> would you buy energy stocks here? do you think oil has bottomed. >> i think oil energy has found some short coming every time it dips below $30 a barrel. some guys bid up the price of oil to where it's closer 40 bucks a barrel and thus far but i'm not making a bowled call in oil right now. >> everybody have a long three-day weekend. see you. >> shares of yahoo! nearly flat as starboard is launching a proxy fight to

you can combine goldman sachs, jp morgan, morgan stanley.hink you will do just fine with any of those. this is a rare opportunity, especially in the market, doing so well lately, to buy something cheap. alix: what would do it for you to have the same opinion of european banks? >> i would have to see major restructuring, see what is on the balance sheet, and more transparency. alix: good to see you. up in the next 20 minutes of bloomberg markets, in today's global business report, we take a look at a japanese business giant. they are buying assets from dell for $3 billion. as we head to break, we will look at some of the biggest gainers today. marriott, starwood among them. ♪ alix: this is bloomberg markets. i am alix steel. stocks fluctuating today. the nasdaq is the only index and the red -- it just slipped into the green. let's head to the nasdaq where abigail doolittle has the latest. abigail: we do have some volatility around. as you mentioned, the nasdaq did just move into the green territory, boosting the index to day, i.t. research in

today the ceo of jp morgan said that he wasn't a big fan of negative rates.ve them here in the united states and he didn't think that they work well elsewhere, ie in europe because of unintended consequences that we don't yet understand. take a listen. >> if i was in the central bank i would be working with the policy makers on the physical side saying we need joint coordinated intelligence policy. not the central bank trying to make up for everything. >> which is actually what mario draghi says every single time but he just doesn't say it as clearly as that. you the mining stocks higher. bhp was downgraded two notches to moody's today. meantime, as you can continue to have this conversation about britain possibly exiting the european union it should have been a great day for french relations, hollande holding a summit in northern france however in advance of that his economy minister made an astounding interview with the financial times if which he said if the u.k. does exist the eu that france is ready to roll out the red carpet for bankers to paris and the

we've got jp morgan all the way threw citigroup up between 4 and 5%. look the sell owoff

. >> i notice that you sold some of your jp morgan position and you have a new position in sinkronny?espect, and love jamie diamond. the man is is in a class by himself. he has to deal with the regulators and they are crazy. so we put money into other financials, increased our weighting. but in a less controversial area. but he's the best. and so, you know it's very hard for someone to see you changed the name but we don't know what we put in its place. i think one of the big head winds for the stock market is what's going on in the credit markets. you know n may, june of last year the high yield index was maybe 400 over treasuries. it got to 950 in february. it's now around 750. those are potent numbers. those are potent -- it's very potent competition for equities. keep your eye on the credit market. it's very important. portfolio swapping has to do we know more about what we are buying versus what we are selling. we have increased the yield or reduced the multiple. i want to make it clear, if i were to make a five year investment jamie diamond would be at the top of the list. >> la

in recent years, the united states' largest banks, including bank of america, wells fargo, jp morgan chase and citigroup, have paid billions of dollars to settle charges of financial crimes in the mortgage crisis leading up to the 2008 housing crisis. record fines extracted by saying the money would help homeowners struggling with their mortgages. yet "the wall street journal" investigation shows while about $45 billion did go to homeowner relief, even more of the settlement money, about $50 billion in total, has been simply pocketed by the federal government, with almost no disclosure of how the money is being spent. and those are some of the headlines. this is democracy now!, democracynow.org, the war and peace report. i'm amy goodman with nermeen shaikh. nermeen: welcome to all of our listeners and viewers from around the country and around the world. with less than a week before the voters head to the polls in florida come illinois, missouri, and north carolina, hillary clinton and bernie sanders sparred last night in a debate in miami hosted by univision. large portions of the d

a buy rating at jp morgan. the recent sell off is a compelling entry point. it goes to the conversation we were having at the top of the show. what do we think? >> too much natural gas exposure. particularly with the lng product overseas. i see no reason that natural gas is going to go higher. i don't like this call. >> continued derisking is imminent. and this thing couldn't go up higher. that's a major problem for these guys. >> niche crates both oracle and sales force today with out perform ratings. oracle gets a $45 price target. sales force gets a 92 dollar target price. >> love sales force and what we had judge in the first quarter this year we had several stocks that were flushed. disney picking that up at $88. broke through 11 and now back through 15. there's a lot of these stocks that when they hit the exits they hit it all at once to the point about big institutional involvement in the stock. that's one of the worries. when you have nothing but institutions in there and they want to get out there's only one door to get out and it disrupts things. >>

jp morgan is cutting several emerging market traders.ing oil prices and china's economic slowdown have hammered the bonds of emerging market companies and countries over the past year. the cuts follow several defections earlier this month. david cameron has risked dragging mark carney deeply in to the debate of whether britain should leave the european union. bank of england governor mark carney says leaving the eu is the biggest domestic risk to financial stability. that is what the u.k. prime minister wrote on twitter. some members of parliament attacked the governor for showing bias in favor of staying in the eu during a heated parliamentary hearing. you can find more stories on the bloomberg -- bloomberg top . hans: we do have more stories here in berlin. angela merkel faces her first real test on immigration when three german states go to the polls. i am joined by tony. take us through where you see this going. the core of germany's growth engine. what does it mean for merkel and what does it tell us about her popularity? >> 20%

the dow components with the highest average include caterpillar, ge and jp morgan and traditional safedollar and gold tend to underperform. we also want to know what a big boost in value stocks has brought for the markets and other assets after such a real. the iwd itself is higher. only about 60% of the time but here is where gold really outperforms. the precious medal along with silver have likely climbed an average of outsized returns. >> thanks so much. >>> for more let's bring in a familiar face. kevin o'leary is the co-founder of ollie funds and the star of "shark tank. "thanks fork here. >> thank you. >> where are you finding the value right now? >> i like value and earnings are slowing and bottom line you've got the dividend yield. on the s&p you're getting 2.3, 2.4, but if you really mine for the better names domestically, look at a thousand stocks and ask what does the balance sheet look like? can i test it for crude ref now? remember worldcom, wouldn't touch it, i look at asset turnover. the reason i don't like apple right now is the productivity is slowing in the company, m

david kelly, the chief global strategist a jp morgan asset management. coming up, the u.s.ght not need tim cook's help to unlock a terrorist iphone. we will follow developments of the terror attacks in brussels. stay with us. ♪ ♪ live from london and new york time betty liu with mark barton. a surprise twist in the showdown between apple and the u.s. government. the department of justice received a delay and a court hearing in riverside, california. at issue was if the government could force apple to help it hack the iphone of a terrorist. you were about to drive to riverside last night and had to turn around because this happened. walk us through the details. .> sure and another reality i would have been in front of the riverside courthouse. that was not to be. what happened was the fbi and government filed a motion for a postponement. it was three pages. focus of theo the fbi and the department of justice saying that they have for hackinga method into the iphone of the terrace sayed farook. they do not necessarily think that they need apple's help now. i want to read a co

but now the finance jp morgan chase put this out last week. statement going forward why they will not lend to coal companies with new coal projects in the united states. but they will lend to coal companies building coal projects in poor or developing countries. this is not the only bank to be doing this. you've got bank of america has put the same kind of statement. wells fargo. so major banks in the united states will not fund new coal projects here. and that's led -- i want to show you a statistic. 28,700 jobs in the united states lost since 2009. coal mining jobs. a lot of that has to do with the switch to natural gas but remember we peeked with coal production in 20,081.8 billion tons and has been a downward since then, and of course there's the harsh and very difficult new emissions standards from the environmental protection agency. keep in mind that coal still generates. i'm going to show you this statistic. 39% of our electricity. natural gas? generates 27% nuclear power 19%. now, hillary clinton as you know made comments about coal.

they missed interest rates on tuesday and the bonds and the announcement in the last week that jp morganng coal operations, new coal fields and coal mining projects in the united states. that was followed by other major financial institutions, which will no longer finance new coal mining or coal operations in the usa. more cavuto now. . neil: all right. thank you, bud auto, very, very much. well, by now you know that donald trump is sort of running the table with delegates. he needs to get 53% or so of the remaining delegates capture the nomination. and now seeing as the inevitable guy enter florida governor rick scott decided to endorse donald trump, that is after donald trump won th the state. the governor joins me now. is that the reason, governor? you want to wait until after the primary? because some would argue that's a little opportunistic. >> well, let's go to 2010 when i ran. the establishment was all against me. they wanted me to get out of race. i was not the republican republican establishment candidate. so i let the voters make their choices. they did it on tuesday. but let'