. >> when jp morgan ceo jamie dimon speaks everybody listens. we will go live to the investor conference here in manhattan where jamie dimon is making a presentation as we speak. you're watching cnbc, first in business worldwide.. >>> welcome back. check out brokerage stocks which are lower after fidelity and charles schaub dived. >> they jumped into that pricing war. this all happened. this outbreak of the pricing scuffle is happening after years of stability with a big online brokerage charging $8 to $10 per listed commission trade. about a month ago schaub touched this off going down to $6.95 per trade. schaub immediately matching that. it is telling that they have been leading the way because they are the two firms that are broadly diversified. they don't depend as much on commissions for revenue. more than 40% of their revenue. e trade somewhat less than that. what is really going on, too, we have a rate hike in december. that gave more net interest income to the companies which schaub wanted to spend some of that in the way of market share

i own jp morgan. so far, the comments are pretty much in line.an, if you look at their return on equity targets of 15%, that's quite good. it still is the bellwether. it still is quality bank. it's not where i think you'll get your alpha. you'll get that from a suntrust and e-trade hopefully and bank of america. >> 15 seconds. >> sure. daniel pinto put up some slides and said not a single losing day last year. and average 80 million a day, judge. so exactly what we all talked about here did kick in. fixed income trading and everything else, killing it. >> a quick break and then final trades. dearthere's no other way to say this. it's over. i've found a permanent escape from monotony. together, we are perfectly balanced. our senses awake. our hearts racing as one. i know this is sudden, but they say...if you love something set it free. see you around, giulia hidden in every swing, every chip, and every putt, is data that can make the difference between winning and losing. the microsoft cloud helps the pga tour turn countless points of data into in

. >> take jp morgan alone. it's unbelievable.umber of regulatory compliance people at jp morgan could fill madison square garden two times. for every four employees at jp morgan that's doing some sort of banking work, one person is looking over their shoulder for regulatory compliance. that's just too many. the right number is not 18% of employees at jp morgan. it's not where we were before the financial crisis but there should be a happy middle ground between 2007 and 2017. >> how many total compliance employees? >> 43,000 employees of jp morgan involved in regulatory and compliance function. >> wow! >> governor tarullo, just so you know how mike feels about you, the inscription here is really nice. you're known as a tough guy. i'm sending this special valentine to let you see, governor tarullo, you're the only one i could ever love. you're everything to me. happy valentine's day. >> bank stocks are up 50% from their lows. we think they have another 50% to go over the next three years. there should be a lot of love from bank inv

at this hour, jp morgan holding their annual investor day. what are you hearing, wolf?hey, mike, yes, first we heard from cfo maryann lake who says the company is at an inflection point and that is without any deregulation to come. and this from there, it will need to go no higher. that means that medium term, it is possible to payout over 100% of earnings as the capital level starts to come back down again from from there. we also just heard from daniel pinto who was upbeat, siting three macro headwinds. the level of fx volatility, and he says that rate rises are cue to come not just in the just, but across developed markets in the coming years. that is of course a good thing for banks and emerged marking m he was particularly positive there. particularly in asia. now at these investment days, of course, banks like to highlight the progress they made there, ceo jamie dimon made the same investment there. 27 million mobile customers, double digit growth there. he let slip they just took their biggest ever fx trade. so pretty punchy by one trader. >> thank you for that.

going through earning season, jp morgan, apple, technology, microsoft. those are the names that have already proven to us what they're doing right now. forget trump and the other stuff. those are the facts that we have. >> right. >> obviously that's the backdrop, trump and what might happen. >> there's a bigger story here, though. there's a bigger story here. joe alluded to it before. the people trading on, quote, unquote, trump stuff since the beginning of this year are massively underperforming because they're focused on the things that are lagging. s&p is up 2.5% this year. take a look at emerging markets. major index is up 8%. some countries are up substantially more than that. we're talking about after five weeks. take a look at europe outperforming the s&p, believe it or not. take a look at small caps, doing quadruple the s&p. these are areas where if you're focused on oh, he's tweeting again. what does this mean for dodd/frank, blah, blah, blah? you're missing the bigger picture. the world is breaking out. >> how about more pizza bomb action? >> i

warner, jp morgan does there is a key risk to this.r iron ore price may lead traditional supply growth. in other words, turn the tap on to take care of those higher prices. we have seen before where that type of activity leads. here out withinto earnings later. what are people tell you as to what to expect? paul: there are number of estimates out. we are expecting a net income of dollars forillion rio tinto. the dividend will be interesting. of course, they walked away from the progressive dividend policy. it is now more than forecasted last year. out soon enough. rio tinto will report those numbers just before the open of london. rishaad: thank you for that. paul allen in sydney. we will stay with all things australian because australia will push for a trade deal without the united states, as members of the tpp meet without the united states next month in chile. were a lot of hard-fought gains achieved through intense negotiations over several years in response to the tpp. i don't want to let those gains slip through our fingers. that

i'm looking at jp morgan but following all of them. are any of them a buy? >> i think city is a buy. i think corbett who should come on the show is doing a kick butt job and the stock is still below book value, which i find to be fantastic. i think city is the best in show. that will go to todd in california, todd. >> caller: i recently updated my furniture using the way fair app and their credit and i found their customer service was impeccable. it was amazing. i was wondering what you thought about the stock. >> it's a battle ground. i got to wet them down the block. i get the furniture everywhere. there is too much furniture. i don't want you to do it. anyway, the times they are changing and the stay at home economy reigns supreme. businesses that prosper, the ones that keep up. make your house worth more or make it so you never have to get off the couch. the much anticipated offering of the app you or the kids spend the majority of the day eyeing and believe me, not shakespeare, should you be in the multi billion ipo? tonight i'll share my take plus a sa

. >> you kind of touched on this by mentioning jp morgan jr. the slogan was, we went to war to keep the world safe for democracy, but sometimes when things i've read and heard, it looks like we went to war to keep the american bankers and financiers safe from financial ruin at the british and french loss. michael kazin: i get that question a lot. i will get it more with the book coming out. obviously jp morgan wants to keep doing business, and bankers wanted to get their money back from the french. but i am not an economic determinist. i don't think economic reasons are the main reason people support or oppose a war. there is no evidence wilson really cared about that. colonel house talked about it, but really it was the question of whether the u.s. could lead the world better by leading it to peace or getting into the war and making a difference in the war. wilson believed in the end in the latter, i think. so i mean clearly, the u.s. was doing fine economically. that is the other thing. if the british and french had lost the war, who knows. i

. >> more common sense, it's got microsoft, jp morgan chase, pfizer, solid blue chips in there. >> aid fund, but everybody is crowding after the same dividend star. >> you've got a sensible stock. hartford financial services, why do you like it? >> a good stock and won a j.d. power award for its insurance. >> slow and steady like crabgrass grow, but i kind of like it. david: that sounds sensible. that's it for forbes on fox. thank you for watching. have a wonderful academy award weekend. keep is right here. the number one business spot continues with our buddy eric bolling and cashin' in. >> the american people had better understand what's going on. this is a bunch of scumbags, that's what they are. >> those are strong words. >> organized around making money. >> who are you talking about. >> the people organized with these oil and gas interests in the administration and-- >> you're calling-- of the united states, this back channelling that you see. these are a bunch of scumbags. >> wow, over the top and out of line. california democratic congresswoman maxine waters trashing the trump

the group is demanding that jp morgan chase ceo resign from the president's business advisory council. they are also protesting his order that rolled back bank regulations. >>> testimony will resume today in the sierra lamar murder case. at 4:30 the big revelation about the teen's private life by some of her friends. >> and family members and friends gather to remember a young man killed by another driver a year ago. the new reward offered new hope also lead to more arrests. >> it'll be a wet drive and that means you should try to leave the house early if you can. right now traffic on the east shore freeway is already getting busy. >> going to be a hectic one with steady, heavy rain over the bay area. wind to talk about can and flooding for some. i will have a look at the current conditions and how long the system is expected to last coming up. there are words to describe every step we take. words for the joy... and the sorrow. ♪ but through all of life's journey... there is no language adequate to describe the ultimate heights you can attain. your full potential. ♪ . >>> welcome back

, nasdaq jumped 18, banking stocks are booming, shares of the goldman sachs, bank of america and jp morgan chase are way up as trump administration takes step to roll role back banking regulations like dod-frank law , goldman sachs alone is up by 37 percent, since the president's election. >>> janet yellthis back on capitol hill for day two of the testimony about the economy, yesterday she said more interest rates hikes are coming this year as long as the economy and job growth stays strong. yellin did not rule out an interest rate hike at fed march meeting but most suspect natalie fed will in the raise rates until a heating in june. we will learn more about the economy to daze when the government releases retail sales data for january. >>> star bucks is shaking things up by testing, coffee and ice cream drinks. for now they are doing it just in california, those drinks will cost between five and six dollars, and they will include all the ra thick malt shakes, floats, and hot coffee poured over ice cream. i guess frappuccino's don't go far enough. >> i don't know if i approve of that. >> w

jp morgan is relatively flat. an analyst dayn is coming tuesday.nionated, he is super bowl it. >> half of jp morgan is traditional lending and that's a kid says that gets a boost from rates and the other is capital markets. turn on the offense for jpmorgan. we think they are poised to take off. jpmorgan is a micro cousin of the banking industry because the industry as a whole has shown the worst growth and eight decades but now we see revenue growth accelerating. jonathan: for more on the markets, we are joined by eric .chottenstein --shoestein the situation in the banks, the improvement for earnings is one thing but the optimism is already in the price. get improvement or is it already priced in question mark >> i think it's probably a bit of both. is nonancial sector different than other sectors out there. the reality of what's going on with earnings versus the optimism as far as what's happening in the markets is creating scenarios that are pretty risky and a little bit unsustainable as far as how investors should think about it. the financial s

among them jamie diamond of jp morgan chase. and elon musk of a tesla just name a few. one executive who won't be there members travis colonic. he quit the council abruptly. the white house is preparing to slap new sanctions on iran over its recent ballistic test. after both the president from an economic and his national security adviser officially put iran on notice that's a quote over its actions. in a shift is now warning israel against building the settlement saying it may not be helpful to middle east peace efforts. it'sxpected to come up. they travel to washington later on this month. the new defense secretary has a warning for north korea. the impact on the united states or on our allies will be defeated and any use of nuclear weapons would be the response effective and overwhelming. at the end of a two-day visit designed to reaffirm a strong two-day support. the two also expected to discuss the mounting nuclear threat from north korea. enough is enough in 90 minutes they will attempt to end democrats filibuster. of betsy devos. they need 51 votes to end debate.

thinks --f mitsubishi jp morgan says they're going to wait until june.anet yellen is basically saying i don't know when we are going to hike. that is what we have so far from janet yellen. what does this mean for the markets? atlet's start by looking industry projections. is a terminal function. march 15, upper left-hand corner. make him a look at that. it is about 50% for odds of a rate hike. whalen and heris -- that bondss could rally again. bank lending is snow -- is slow. one of the issues for the fed is couldy hike rates, that cause the dollar to rise. that could be problematic. rates as fed raises chair yellen has suggested, that could get the dollar even stronger. would it be ironic if she was the cause for a trade war? she doesn't want that. if the dollar were to appreciate much more against the asian currencies, i don't know how you avoid it. >> interesting to come it is complicated. be careful what you wish for. governor kuroda might be happy that we're helping him out. chris whalen for joining us. that is certainly an important part of the sto

jp morgan does not see property stocks slowing down just yet, with the pboc unlikely to unveil more curbswe are set for a second day of gains. it has been a week of up and downs for japanese chairs, ahead of of 4 days shinzo abe's meeting with donald trump friday. of nikkei 225 down 4/10th 1%. taking a look at currency movers, i like to look at the kiwi dollar. the kiwi falling boast against -- falling both against the greenback and aussie, leading the drop to developed market currencies. governor wheeler says the decline in exchange rate is needed. the assistant governor expressed spurring further weakness. has been a wild ride for the dollar as the trump administration sends mixed signals on its strength. the dollar index surged in the fourth quarter but is off 3% since the start of the year. let's bring in the head of asia strategy at macquarie securities. always great to see you. let's start with the dollar. this is affecting the move. we can see that the bloomberg dollar spot index is testing support at the 100 day moving average. this is because of persistent anxiety donald trump wi

us bancorp, pnc, jp morgan just within a hair of 52-week high and wells fargo, same thing.e big relief outside the financials is to see the transports comfortably in the green. dow transports up today after a horrible week. ryder brought down all the truckers, united parcel service brought down, fedex was down. still down 9%. ryder down 6. american airlines down 6 or 7% even union pacific, not a lot of news in the railroads but that group down as well. nice to see them in the green. gives you an idea of the strength of the rally. 4-1. >> thank you very much. president trump signing executive orders on financial regulations this afternoon. eamon javers has the story. >> what the president signed today, one was an executive order, the other was a presidential memorandum. the first one instructed the acting secretary of treasury in this particular case to go back and review the entire dodd/frank law and look for ways to roll back or trim some of the regulations. the trump administration feeling very much it was ownerous in some ways might have been unconstitutional. presidenti

jp morgan saying we're going to buy germany over france because in france there's too much election risk you want to jump on the band wagon because of the weaker euro? >> what's the contrast between france and germany? france, is looking extremely cheap relative to germany. i suppose you have to price in the possibility that marie le le pens is going to win and then it would be a euro zone break up. would you want to own france or germany in that scenario? she'll fall at the second round but certainly from our perspective, investors are worried about that. if you look at her standing, it's very similar to where donald trump was last year. so there's every chance it could happen. >> appreciate it as always. head of research and investment strategy and still coming up, u.s. vice president mike pence will be arriving at the european counsel in the next few minutes. did you know, 90% of the world's largest supercomputers run on intel? that means you can take a universe of data - in your case literally - and turn it into medical discoveries, diagnostic breakthroughs... ...proof that black hol

steel, jp morgan and financials, all the big names still holding up. interesting piece of speculation, but so far markets are not reflecting that fear. guys, back to you. >> all right. thank you so much, bob. president, of course, having a huge impact already on corporate america. we know because so many companies are mentioning his name in their earnings reports and executives mentioning him on their conference calls. seema mody has that part of the story. seema? >> we've been reading through all the transcripts and perhaps it's no surprise that president trump's policies have gotten a lot of attention this season. he has been discussed about 56 -- on 56 different earnings calls so far. the big takeaway, cautious optimism on corporate tax reform, at&t cfo saying it makes sense a company our size with the taxes we pay would clearly have an opportunity to benefit from a change in tax rate. chairman and ceo on steel corp says the trading policies the view on infrastructure all look positive for us. repatriatie ration -- repatriat generally positive tone,

equity europe and david kelly, chief strategist at jp morgan funds. what's the answer?f ray dalio is getting nervous, should your clients? >> everyone was nervous before the election. i find it rather perplexing that people decided to look at the good side of trump for a couple of months. >> you don't agree that we should have had a rally post election/gop election rally? >> other than getting rid of the uncertainty and not having clinton attacking the health care industry, i don't understand why the market wasn't more balanced to start with. trade was always going to be an issue. and now it is becoming an issue, whether it's first with nafta or second -- >> because of massive deregulation, like donald trump has promised? >> yeah. >> tax reform like donald trump has promised, because of tax repatriation? >> yep. >> optimism, those things were going to happen. >> absolutely. and i think we may well still see them with a bit of washington gridlock that i think we're now already experiencing. the flip side was that there was always downsides to what president trump was pro

>> yeah, jp morgan, bank of america, they have already made moves and there is no sign they're pullingompliance with this rule. some smaller firms are waiting and watching for what the trump administration does here. the rule is supposed to go in effect in april, so it is a question of what happens to the regulation. carol: you have come up with three questions to ask for an investor to make sure that they are indeed putting the investors interests first. >> the first thing they can ask is are you required legally to put my interests first. the second is to ask how are you being paid. what is the way that i am paying for your time to sit in front of me and give me this advice? and the final one is, what are the fees? look at the fees in the documents you have, especially expense ratios, very important. carol: because 1% or 2% of an investment portfolio adds up after time. >> if you are saving for retirement and you have decades to go, that 1% fee year after year can have an impact. carol: president trump wants federal agencies to reduce unnecessary regulation. oliver: that could be mor

musk is on the president's business advisory council including the heads of gm, walmart and jp morgan chase. he was goi within the past hour, elon musk tweeting there has already been and there will be progress on this matter. >>> three california university students are challenging president trump's travel ban suing to block the executive order in federal court as well. the students claim that the ban bars travelers from entering the u.s. and will keep them from visiting their families in their hoenl country becau home country. those students attend college in san diego. students say the ban on travelers from seven muzly country. >> nordstrom will no longer sell ivanka clothing or shoes in its clothes. we're in san jose with a look at why the store says it's making this move and they claim it's purely business and trump's family says their business is doing well. >> reporter: that's exactly right. nordstrom says it comes down to the money and that it's not a political statement. i went i side today. there are still some ivanka trump shoes for sale but they're discounted about 45%. a

we have make from jp morgan asset management here and we are french politics looking in theou europeanrse for signs of nervousness? are we seeing anything else about the future of europe? >> this focuses on the french story and there is a ripple of fact. in a sense, italy has been a lightning rod for a lot of this, but the market focus will intensify and the volatility within will get greater and greater. >> this was something i prepared andier with these stocks this litigious mood with the upside. this is the spread and here we are at the moment. is this the kind of indicator you look at? a europeangested complex is getting ready for the punch up. >> very much so. the markets of sus about this and the levels of volatility go up. it is the french and dutch elections and this is very much a market focus. two things take this, the for referral bond spread and the euro, which has been strong, in the face of elevated risk. >> you said we need to be and noneith the polls wille coalition partners want to do this. is an populist media that is going to be something new. is this a roadmap for t

we have apple shareholder meeting and target shareholder meeting and jp morgan shareholder meeting and investors on hold with all this going on and gdp report and consumer confidence and they're waiting on trump tonight and state of the union if you will. and so we might have this small float upwards which would put us in history making territory >> you mentioned appal and they're rae lacing details about new iphone. >> this is 10th anniversary iphone and parptly three of them are coming out this the year. we never know the exact specifics when it comes to apple def eess we go offer rumor area wall street journ sal reporting one of the phones has a curved screen. samsung has phones like this samsung would be make something scene for aprille at one version of 10age anniversary iphone. price tag is expected to be 1,000 and guess what? crazy apple fans will pay that i guarantee you. we're almost there now lauren. >> i know, i know. >> but to start at 1,000 i feel like that 1,000 that's a psychological barrier for normal people like me. >> and me. >> speaking of people not really normal, b

jp morgan, goldman sachs driving up the dow, and then you have some pulling that yield lower. that bodes well for financials and not so much for the high dividend payers. >> gold lost it's gains of the morning. crossing into the red. does it fit, we talked about this at the outset of the system, but is the net effect net hawkish? does it justify the yields? >> i maintained that the market was under pricing the of the heavy hitters. i think you need to look at the february employment report that comes out in early mark, and ta -- march, and whether or not the wages in january, causing them to price out, if that was an anomaly. a lot of economists thought it picked up the trend of higher wages out there. janet yellen talked about it a little in her testimony today. so i think you want to be closer to 40 or 50%, not down to the 20 20% or the 25% where it has been. i think yellen's test today, and we'll see if she end tup there, and tomorrow, she doesn't want a front runner committee on this or the data. >> sounds light a tight rope walk, and that there is not much of a shift here

. >> right now we know hundreds of atms at jp morgan chase are outfitted with technology that uses phoneaccounts. bank of america. wells fargo planning similar problems later this year and cardless systems offer more convenience but could create new you secure i can concerns. they feel criminals may be able to hack your phone getting your password and account information. >> i'm too much of a scaredy doot try that out. >> parents you have kids out there american girl are introducing american boy yep for the first time ever added a boy logan he plays the drums with good friend teny sleaz a singer song writer tenny and logan will hit the shovlz thursday. >> logan joining the family there. time now 5:5. >> there is interesting way to fay your final respects. >> forget the flowers why one funeral home says you don't have to get out of your car to pay your respects. >> seriously? >> but first, we honor black history month. if you enjoy buying fresh food from across the country at your local supermarket guess what, frederick mckinnley jones to thank. >> air cooling units he invented used in fo

ba companies like jp morgan and chase and wells fargo all working on cardless oming options to access atm that could mean using cellphone to withdrawal cash. you can tap phone to confirm identity. % of nation's atm are equipped for cardless access. >> having it your way could include a side of wings. company that owns burger king is in talks to buy pop eye's it could create a fast foot bohemeth. >> and this is bolton video for i'm sorry for netflix cheating. >> you watch show with significant owe other even you're both into it and one night you're alone and temptation to watch the next episode is too strong and suddenly you've been netflix unfaithful. don't worry you're not alone. netflix says 48% of people watch it without their partner. i had eye straight face until i heard him start singing michael bolton. i could not keep it together. you know what that is a thing. >> i heard that. >> i know. >> who knew? >> i heard. >> yet another relationship deal breaker. >> exactly. >> good snuggling weather today? >> it's always good snuggling weather if you have the right person to snuggle w

city and jp morgan up 3%. let's go to trump's campaign chief operating officer. great to have you on the show, jeff. >> great to be here. liz: so basically trump saying the laws were so bad, it wasn't state-of-the-art. we had so many hearings, so many high level commissions, yet another talk of, you know, this dodd-frank law would help everybody. did you think that dodd-frank executive order was a good thing for the economy? >> well, let me put it in context. dodd-frank has been called the obamacare of the financial industry. and if you go back six years when they passed it, it was done without a single republican vote in the house and with only three republican votes in the senate. so it was highly partisan. if you look at the effects of dodd-frank, all it has done is take our country from ten too big to fail banks down to five too big to fail banks and closed thousands of community banks. so it's a very, very good thing. it has been handcuffing our financial industry. i read the executive order, and i really like even 1g, if you see that, which it's going to re

the blue line jp morgan. let's call that the best case out ofthe lehman lows the bottom.f the lehman lows are equities has a huge outperformance versus jp morgan and has not gone anywhere. what is the catalyst to barclays' banking, to the united kingdom banking? james: we have to get an end to the regulatory malaise. thating of the challenges have been ongoing, protection insurance, for example, added 1.5% to gdp by putting money in people's pockets which they spend. it is not clear that banks in the u.k. have addressed bad debt problems. there will be a lot of bad loans they still have to reconcile. tom: we will come back on this. ♪ a thursday, a beautiful thursday in new york. unseasonably warm. it is beautiful, beautiful for this time of year in new york city. we welcome you worldwide. york.om keene in new markets are there. we are waiting for more information on the german two-year yield. let's get transfixed i first word news. new planhe president's to do for it undocumented immigrants is likely to be the focus of talks between secretary of state rex tillerson and me

now hundreds of atm's jp morgan chase are outfitted with technology that let's you use your phone toerica and wells fargo are planning similar programs later this year. but while card less systems might offer more convenience, they do, critics say they bring a whole new level of worry over security. they say hackers might be able to more easily hack phones to steal passwords and account information. >>> are you someone who enjoys taking selfies? if you are why some scientists say you may be living a double standard. >>> i knew somebody was definitely in here messing around. >> favorite story of the day here. some body or some thing. what this man says actually left all the scratches. ♪ question, are my teeth yellow? ...have you tried the tissue test? ugh, yellow... what do you use? crest whitestrips crest 3d whitestrips whiten... 25 times better than a leading whitening toothpaste i passed the tissue test. oh yeah. crest whitestrips are the way to whiten i ...prilosec otc 7 years ago,my doctor recommended... 5 years ago, last week. just 1 pill each morning, 24 hours and zero heartbur

coming up later on today, jp morgan investors, mr.speaking, and of course, president of the united states addressing a joint session of congress. let us know how we are doing. let us know the questions you would like asked. we will speak with the ceo of the automaker about the cars, the future of the car, how it is going to work and change. we are going to do that at the mobile world congress in barcelona. we will be talking to a car company at a mobile convention. ♪ matt: welcome back to the european market open. the mobile world congress is underway in barcelona, an annual gathering of the big movers and shakers in technology. it is not just electronics makers and focus. leaders on the auto industry are also at the event, a man -- cariling the latest in connection technology. caroline hyde by with a guest. caroline? >> this is the chief executive uca.iat, look at a male -- l owned by volkswagen, the german giant. a mobile event. why? >> it makes a lot of sense to be in the mobile and obviously, we are the brand of barcelona, so i th

saider in the month, trumpp jp morgan ceo jamie dimon was giviving him advice on whahat to wiwith dodd-frank. pres. trump: some of the bankers here. there's nobody better to tell me about dodd-f-frank t than jamie. we expect to be cutting a lot out of dodd-frank. frankly, as so many people that have nice businesses that cannot borrow money. they cannot get any money because the banknks won't let tm borrow because of the rules and regulations in dodd-frank. amy: one of president trump's fiercest critics has been massachusetts senator elizabeth warren who has spoken out , against trump's efforts to dismantle dodd-frank. financial crisis cost millions of people their jobs, their homes, andnd their savings. in response, congress passed the bipartisan dodd frank act, which aimed to prevent big banks from blowing up the economy a again. now, president trurump has calld dodd-frank a "disaster" and vowed to "dismantle" it. he started down that road two weeks ago when he issued an executive order on financial regulation. he has put steve mnuchin and gary cohn, who have spent a combineded 42 years at

. >> jp morgan a triple digit stock. >> broad com.y'll be reporting march 1st, wednesday, which i should support all the apple suppliers as well. >> i'm going short xme. getting cautious here, and there's better longs against it. >> all right. mine is chevron. >> march 7th is the analyst date. you need to hear from management what the free cash flow will be to support the dividend. cap is $4 million. do they have enough money? >> trade it for a draft pick. >> good stuff, guys. thanks for joining us, erin. >> thanks. >> "power lunch" begins right now. >> thank you, scott. i'm michelle caruso-cabrera. president trump calling for historic spending on infrastructure. busy day of meetings and greetings at the white house. warren buffett spending three hours here on cnbc. he's bullish on america, the markets and has a message for investors who want to mix politics and money. >>> plus a big-time mess in la la land. we'll take you inside that moment being called the most embarrassing moment in oscar history. "power lunch" starts right

i heard there was going to be a morgan between president trump and jp morgan's ceo. can you tell us who else will be there? what message does the president have on finance reform? it seems like financial reform has fallen by the way side. >> i wouldn't agree with that. when you look at regulatory reform, tax reform, all of the steps he's been taking to help the economy grow and to create jobs that's right in that wheel house. i hope to have further updates on the schedule tomorrow. >> i have a question ab foreign policy, but i wanted to follow up. you said lpr's no longer need a waiver. but you didn't answer the question ab people who were put on planes back to where they came from. what happens to them? >> they may go through the process. if they are an lpr, if not they go through the application process. if they are a legal permanent resident, then they are waived, they can come right through. >> they can come back again. >> that's right. i don't know how many cases that applies to. i know if they are not a legal permanent resident, they have to go back. that's par

this is s president trtrump speg at a dinner that i included jp morgan chase ceo jamieie dimon n frfriday. pres. trump: and to do what we have to do in terms of regulation -- we have some of the bankers here. or is nobody better to tom udall. frank then jamie. we expect to be e getting a lot out of dodd frank. they cannot get any money becaususe the banks won't let tm first lady melania trump is suing the owner of the media outlet the daily mail, over an article that falsely reported melania once worked for an escort service. the lawsuit, which seeks $150 million in damages, claims the article hurt melania's chances at making millions of dollars by selling a brand of beauty anand fashion products while she is "one of the most photographed women in the world." her lawyer is charles harder, who also represented hulk hogan in his $140 million lawsuit against gawker, which caused gawker to shut down. president george w. bush's white house ethics counselor richard painter told the "washington post" the lawsuit appears to suggest melania trump sought to profit from her role as first lady, sayin

companies taking part, jp morgan, carlisle, pimco and more. raising how much money as a result? well, cycle for survival had incredible growth over ten, 11 years since they've started. initially, a couple $300,000 in the first year. last year, $30 million. every dollar of that goes to research. not a penny goes to ad min straitive oversights. >> we wish you didn't have a relationship with joe, but you do. >> yes. >> joe, you want to tell us a little about that? >> it's sometimes not what you do. it's not what you don't do, and dr. jarnagin was wonderful, thoughtful, a scientist, and his continued care with me, and my concern was we were going right in right away to get the knife out, do some things, but we didn't. i appreciate that, but if i could ask you about the research itself, and the need for research, we've talked in the past about the issues and challenges for the health care industry. you have the trump administration talking about pricing right now. is it more a funding crisis that we face in the health care industry? >> yes. i think definitely so. particularly in rese

according to jp morgan chase chief financial officer on an annual conference call last month, loan growth remains robust. according to bloomberg. jp morgan chase, core loans increased 10% to $806.2 billion last year with gains in every category including credit cards and whole-sale debt. bank of america's loans climbed 1.1% to $806.6 billion while wells fargo grew 5.6% to $986 billion. according to the same article, banks now have a record $9.1 trillion of loans outstanding. based on this, it seems that big-bank lending is actually doing well and maybe the reasons that the president's friends have not gotten loans is because they have borrowed too much and the megabanks want to be careful about who they lend to. a finance professor at stanford university and member of the fbi sees system -- notes that -- quote -- "the claim that regulations are prohibiting lending is simply false. the banks have plenty of money and can raise more from investors like other businesses if they have worthy loans to make. if they don't lend, it's because they choose not to lend and instead do many other things

jp morgan, goldman sachs also apple and home depot notable highs. and verizon and procter & gamble.this is something they're going to delve into with their web services to take on skype and webex and gotomeeting and microsoft. and intel expanding in china to sell their toys alibaba in china. why pause a spontaneous moment? cialis for daily use treats ed and the urinary symptoms of bph. tell your doctor about your medicines, and ask if your heart is healthy enough for sex. do not take cialis if you take nitrates for chest pain, or adempas® for pulmonary hypertension, as this may cause an unsafe drop in blood pressure. do not drink alcohol in excess. to avoid long-term injury, get medical help right away for an erection lasting more than four hours. if you have a sudden decrease or loss of hearing or vision, or an allergic reaction, stop taking cialis and get medical help right away. ask your doctor about cialis. . stuart: check this out. a woman claiming to be a professor on the nyu campus screaming profanities. she wanted police officers to beat up vice media cofounder gavin mcginni

they have been protesting in front of goldman sachs and jp morgan.so what you've got here is various strands in our society lining up very much against president trump. delay and obstructing congress. the media is against president trump. some corporations are saying separate yourself from president trump. the courts are holding things up. and now this. the mayor of chicago rob emmanuel says democrats need to prepare for a long-term builup of the party. he suggests, hey, take a chill pill, man. watch this. >> a long time to get this. it ain't going to happen in 2018. take a chill pill, man. this is -- you've got to be in this for the long hall. and if you think it's going to be a quick turn around like that? it's not. . stuart: so rob emmanuel is really saying here, look, watch out. you've gone out there on the obstructionist strategy. maybe you're not going to win in 2018. and it appears that other democrats agree with rom emmanuel. who are they? liz: senator chris murphy out of connecticut, debbie out of michigan, she's sending the warning bill, he

caterpillar, goldman sachs, jp morgan.hat daniel is leaving the federal reserve. more on that. look at apple. goldman sachs raised its target price to $150 a share. apple closing in on another all-time high right now. goldman says it's going to 150. look at amazon is going to launch a paid tv channel which will rival hbo and showtime. straight up another $5 higher. now this. we could be getting a rewrite of the president's executive order as soon as this morning. that's an executive order on a temporary travel ban. in the meantime, i want to play for you what judge james said when he halted the president's initial order. roll that tape. >> how many arrests have there been of foreign nationals of those seven countries since 9/11? >> your honor, you don't have that information. >> let me tell you the answer to that is none as best i can tell. so i mean, you know, you're here arguing on behalf of someone that says we have to protect the united states prosecutes individuals coming from these countries and there's no support fo

just ahead, we speak to jp morgan on their outlook for asian mergers and acquisitions. ♪ deals over $1led last year as chinese companies went on a shopping spree, but with the regulatory landscape changing, is that trend likely to continue? morgan has advised on some of the biggest deals this year. thank you for coming in. about chinaking here, now, how do these curbs on capital controls affect what they want to do in the m&a space? it will limit some activity, but we are bullish on cross-border m&a. officials have been clear that businesses are strategic, if people are pursuing acquisitions of offshore entities that are core to their business -- rishaad: how do you get around them? guest: what you mean? rishaad: capital controls. guest: they are focusing on acquisitions that make sense and are consistent with the business that is buying them. the second is managing capital controls for fx reasons. in terms of capital controls, if the businesses they are buying offshore are deemed strategic, there is this whole initiative to go global in china because the chinese economy will only beco

jp morgan is hitting another record high. strength of the banks today, not surprisingly, it's all about yields. we take a look at a chart of the 10 year yield. we him -- see a massive spike higher represented in red, which tells of the safe haven bonds are trading lower as yields go higher after fed chair janet yellen did give the message that the fed would like to raise rates if the economy warms. it's a goldilocks message. yes, they will raise rates if the economy will handle it, but maybe not so quickly. markets are taking a bit of a dovish stand. as for what's happening with the xlf relative to the s&p 500, big outperformance. headd to the bloomberg -- to the bloomberg. xlfs is be xl -- the relative to the s&p 500. we see huge outperformance. the question is whether this congestion continues to break up, or are we going to see a reversal of what is clearly a parabolic uptrend. just to give this perspective, when we take a look at a five-year view of this very same chart, you can see the parabolic move here, moving up out

gives it out as a chasechse debit card instead of a paper aa check but a lawsuit against jp p morgan the bank deprives jurors of thers ot full payment and that's th because of the fees associated f with the card. for example if the juror exa wanted to turn thmpe card into o cash at a chase branch itase bri would cost >> bwi thurgood marshallarshall international airport moving forward with an expansion project accommodate itsoject od growing number ofg number international flights.ternationl yesterday maryland approvedig a $16 million contract to build a three level, 70,000 squaresque foot additional.itio the project will add six newdd x gates to the e concourse. bwi expects to have them ready m by the summer 2018. >> ♪♪ >> all right. mas thoalk to mike t about our weather.abour weathe the snow is still comingomng right, mike, nothing hashin has changed. i hope.e. [laughter][l >> that's all we can do as weather people is trust our ru models and hope things pan outhg as it says it will.t sa i if i start getting complaintst in i'll know it probably'll kn didn't work out as expected. ex