let's talk about jp morgan . -- welcome to "bloomberg daybreak." let's talk about jp morgan. their outlook also pretty solid. quality and the loan growth was going to be an issue for all banks, so any clarity on that pretty solid. david: this sort of sets the standards, so it will be curious to see more. does this set a higher bar for everyone? alix: is it the high watermark for banks? they are not going to benefit from the right cycle. david: kind of half-empty. alix: i don't know. nonetheless, jp morgan going to be helping optimism in the equity market, jumping higher exportsronger chinese and money supplies surging in china. we've got the fastest pace since 2016. all of that boosting risk appetite. global growth reflation story. risk on when it comes to europe, selling off in the bond market. crude up 1.5%. you had a megadeal this morning. anadarkogreeing to buy , a giant bet on shale and lng, signaling the future of big oil over the coming decade. chevron's chairman and ceo joins us now. congratulations on this big deal. walk us through what's this -- through what this me

in terms of the big one, this is by far the worst you could pick jp morgan or city, this is somethingrong. it trades very poorly. i think to your point speaking of regional of the big banks, it is the most regional unlike jp morgan which has a lot of businesses this one has less of that. less of some of the investment type business. it is like a super regional of sorts. >> would you manage the trade in that right after earnings? >> listen, we do this all the time the way we do earnings and long premiums, it is a hard way to make the money if you got that move, friday you may consider taking some of that off right away the other reasons why i chose may is that i also want to give myself some time maybe the stocks open up a couple percent but then it fail. you don't want to do weekly into events because it turns into a binary situation >> for everything "options action," check out our website you can sign for our newsletters. it is like you die in winter options. what more can you want here is what's coming up next. >> the cabs are here because lyft options just started trading. after a

jp morgan gaining some 1.5%.e rivals and what they had in that unit. tom: this is the modern distribution of finances. dimon the pdf from james and team in about two seconds. that is extraordinary how we used to wait for the conference call. in the first quarter, we had revenue -- record revenue. he goes on with a general discussion. will continuease to use its capital and expertise to drive great outcomes in our communities, as if he was speaking to chairman waters. francine: we always have to be careful as soon as the numbers ,re out, but at first glance everything seems to be beating estimates. trade revenue and net interest income beating estimates. joining us now, alison williams. when you look at the figures, they are pretty much a beat. what would you focus on? alison: the one number that looked a little bit light, compared to their targets, as loan growth. average per loan growth coming in at 5% year-over-year. we will want to dig into that and see where the growth was, where the growth wasn't, and if the

no wonder the stock worked i'm happy to say we own jp morgan for the charitable trust. follow all our moves aft actionalerts.com the club is pretty happy also we heard from wells fargo they told an entirely different story. a bottom line beat with a mild top line miss with tepid deposit and loan growth numbers. they used to have the best on the street more importantly, the company seems a little lost. as much as i respect tim sloan for take one for the team and announcing his resignation a couple of weeks ago, it's hard to endorse wells fargo here when we don't even know who the replacement is going to be a lot of names floated around. some of them from legal, some of them from tech isn't that interesting the stock isn't even that cheap compared to the rest of the group anymore. i say wells isn't in slowing mode which means you don't want to own it until they show us they got their house in order. especially that they guided down some very key items related to interest rates the one break they did get is they weren't secured in washington because tim sloan resigned this

i'd rather have jp morgan than i would wells, but wells has come down, and jp morgan hasn't next week we get the rest of the major banks, and once again i'm not betting on any upside surprises because their stocks are so low, they don't need upside surprises monday goldman sachs and citi. we own both in my charitable trust you. follow along on our monthly club call tomorrow i'm going to tell club members while both stocks are cheap, that may not be enough to move the needle unless their quarters are really great. citi has developed a nasty habit of missing numbers while it's been buying back stock by the bushel the buyback has meant nothing, nothing to shareholders, as they want to see growth citigroup didn't visit i kept thinking when you buy 7, 8% of the bank's stock back year after year, people would kind of be enamored of it. not working. it won't do much for the stock because until they're involved in this huge malaysian fraud scandal gets paid up and the fines are cleared, i can't see it going back up to its old high so where it was last year, so the risk reward is positive. i b

jp morgan's gaining market share.nversation management has with investors on the call. dagen: it was a 5.4% gain in quarterly profits and one of the reasons was its net interest income which came in at $14.6 billion. thats was up 8%. so that's a very healthy sign for a bank of this size. >> especially so much conversation about the inverted yield curve, essentially what they're doing is their book of business, their spreads are great and we're seeing that in the first quarter results. it also means that they're getting increased customer accounts, investor and traditional banking. that spurs higher net interest income. dagen: you were very early on this to question, because peoples heads were exploding about the three month treasury being higher on the yield versus the 10 year. it only lasted for five days. so march 22nd through march 28, we got our crack team of one man charlie brady on thi. you were early to say wait a minute. is it really always an indicator of a recession? how do we read this? your guest came on a

jp morgan and disney. jp morgan at its highest level since december last year after putting up a solid beat red across the board in earnings. does they also at an all-time high with investors cheering the new disney class service. jp morgan is what doing for financials, up three days in a row, up about 3%, the 1.t set of days since april not a long period of time, but there had been a lot of anticipation by investors on whether or not banks would be bullish or bearish. right now, bullish, not just for the banks, but perhaps for the s&p 500. take a look at this important chart we are looking at, the financial etf, the xls. and below, the as the wife, s&p 500 etf. banks leading at an all-time ,, with lots of volatility especially for the housing market last year, sending the banks lower. there is some divergence, but the banks are peaking up above that downward trend. the question is whether they will join the s&p 500 or it will be like last fall where the s&p 500 falls to the bank sector. the dax is also hi

we get results from jp morgan chase and wells fargo.cing for, quote, pretty ugly numbers. let's bring in that guest, todd horowitz chief strategist at velvet trading.com. are these earnings a catalyst for this market? because volume yesterday, lowest of the year. there's kind of a search for direction right now. >> good morning, lauren. volume has been absolutely pathetic. in 40 years, this is the worst quarter i've ever seen volume-wise. usually the first quarter there's a lot of action. we have the earnings coming out this morning with jp morgan. we lowered the bar so far that it's hard to believe that the markets aren't going to get to new highs. there's a lot of issues in the market. with no volume, dull markets will continue to rally. that's the way it goes. lauren: no matter what we hear from jp morgan and wells fargo today, you think the market goes up and indeed hits new highs? >> i think we do hit new highs because, again, we have no real action. it looks just like what we call a retail rally, that it's all the retail money tha

and that is the situation that jp morgan and the other large financial institutions are in.list system and when business is booming as it has been for the large banks in part because of president trump tax cuts then they have the duty to pass down the benefits of the profits to the employees making the profits possible. >> so what do you think it will take to have a jamie dimon raise that wage? >> well, he promised that he would think about it. he proo-- he repeated that seve times and he's the chair of the business round table, the nation's largest ceos and i took him at his word and i expect him to be thoughtful about it and think about what he can do to make sure that everybody who is working full time at his $2.9 trillion bank is able to put food on the table and make sure they have an apartment and they could afford medical and take care of thi-- of their children and i expect him to show leadership and he said he's a leader in the business community and i expect him to show leadership in this issue. >> did you explain that patricia was a hypothetical, was he clear on t

what you can expect from some of the biggest banks like jp morgan and wells fargo when they roll on the their numbers let's call it the cain mutany. another gop senator coming out against president trump's latest pick for the fed and a big win for space-ex last night as it launches the world's most powerful rocket all the details ahead on these big stories on this friday, april 12th, it as worldwide exchange begins right now. >> good morning, good afternoon, good evening i am brian sullivan, and happy friday look at this i mean, like major tom, futures up, up and away this morning dow futures, somebody came in hot and heavy into the futures market about a half an hour ago. futures were mildly up when we checked about 30 minutes ago look at this dow futures now up 165 points. s&p and nasdaq futures are also higher as well a real nice pop. trying to figure out what, if any, news might be behind that because, again, the futures market did this and then did that about 30 minutes ago. we'll get more on the markets coming up in just a couple of moments. first, we have got to get to your top s

if you do consider wells farg wroe is the one-off in that space, then the picture from jp morgan pncd citi's u.s. retail business has been pretty good so far. credit quality still pretty good loan growth has been sort of fine, and it's kind of been broad-based on that kind of aspect of the u.s. economy bank of america judging by what brian moynihan told me a couple of weeks ago when i interviewed him, i think they could do pretty well, again, on that front. little a similar setup, low expectations we've beaten the expectations, but it still didn't lead to share price outperformance because investors, for whatever reason, late in the cycle need to see blow-out beats for them to turn the corner on their sentiment towards banks. we haven't seen though where's zbloosh wolf brings up an interesting point. the u.s. does look good as far as everybody else. does that mean that this is a good time to be invest and putting money into the market? >> it certainly -- we're concerned that valuations are getting a little rich for the u.s. large caps. when you look at its relative attractiveness, ye

what jp morgan did is he gathered in his library major bankers of the time, and what he decided to do is parcel that money to some of them. they were his friends, they had shares with him, he had shares with them, they hung out together, their families got together, et cetera, and a lot of the other banks failed at the time. that was a situation where he then became known because he let his bank survive and he was sort of the king of banking. the "new york times" called him that as well. the history goes back through this period, 1890s and 1920s because around the morgan bank, they were very influential for money and also for what happened politically and how the treasury department and the presidency ultimately survived their panic at the time. >> but nomi prins, tr was known for being the trust-buster, for not liking big business or railing against it at least publicly. >> yes, and he was. he is known as that and he was a trust-buster. what he busted was non-banks. so at the time, standard oil which was the major oil company under the rockefeller family and other types of companies

jp morgan was like what a bar. but down four? maybe they sent someone downgrades, i don't think they do >> we're nowhere near being done bank of america tomorrow morgan stanley on wednesday. amex on thursday afternoon. >> how do you -- how does anybody really flow back to banks with rates where they are. we'll talk about the president again going after the fed but like -- >> jp morgan made a lot of money on the curve. >> they did it was good numbers. >> the president is going after the federal reserve again as you saw over the weekend in a tweet he said if the fed had done it's job properly, which it has not, the stock market would have been up 5 to 10,000 additional points and gdp would have been over 4% with no inflation. quantitative tightening was a killer should have done the exact opposite over the weekend draghi expressed his concerns saying a loss of its autonomy could undermine credibility. kudlow is saying that he's looking to disrupt i think there's an element where david don't you think, a little showti

jp morgan assets hasn't been adding to its long position in u.s.enured debt and says it will continue to do so as rates go up. rallied globally from the u.s. to australia throughout march. we have had goldman sachs and morgan stanley also lowering their forecast for treasury yield. shery: thank you so much for that. bloomberg's cross asset reporter joining us from sydney. check out her chart. house democrats want more information from one the mueller witnesses and have issued a subpoena to don mcgann to testify. joe, really not surprising given the key role that he seems to have played according to the mueller report. >> he was interviewed more than two dozen hours and appears more than 500 times in the report, detailing some of the attempts by the president to derail the .nvestigation .e is a key witness he was talking to mueller as part of the early strategy to offer up all sorts of cooperation. now that the democrats are subpoenaing him, this will bring some of that testimony live in front of a television audience that may be more impactful than

a sea suite shake-up at jp morgan chase two female executives in top spots. which one might replace jiemy dim dimon. the market may be saying so. we'll show you why and it is profits versus potential. two companies you know prepared to make their public market debut on the street today. >> thank you for joining us. markets are closed tomorrow for good friday. it is going to be a very busy day here from washington to wall street that is a live shot of the u.s. capital where attorney general william barr delivered a reda redacted version to congress in a few hours it will be releading. both parties, no doubt, gearing up to dig in and use it to make their case for and against the president. much more on the economic and investor impact coming up in just a bit first, to business new business this morning. >> this is zoom at $36 a share that's above an already increased range of $28 to $32. zoom, which will trade under the ticker zm, is bucking the recent trenld of ipos that is profitable reporting net income of 7.6 million last year on sales of 330.5 million. by

jp morgan kicking us off on friday.g, we are taking a look at the move which measures volatility in the bond. that will affect trading against the vix, which affects equity trading. we knew volatility was too much and that stalled trading. if it is too low, that makes people not want to trade either. my eye here is on fixed trading. alix: thank you so much. stanleyson of morgan still sounding bearish when it comes to earnings season. he thinks the first quarter is going to mark and earnings recession. "we do not see an attractive entry point." still with us, lead rogan -- still with us, leigh drogen of estimize and liz young of bny mellon. that: what will matter is the gross margins in the back half of the year are not going to be good. that is going to end up being the focus. it is an issue because we are only going to have 4.5% to 5% revenue growth here. there isn't anything on the horizon that is going to push anything significantly forward, so it is really hard to get good eps numbers and the backup of the year. his

week, will see the big financial firms,jp morgan and week, will see the big financial firms, jp morgancing and it will be a pulse checkin announcing and it will be a pulse check in the us economy for us and we will watch those closely. for now, thank you, good to see thank you for explaining all of that. so much going on, investors are watching but the brexit issue still weighing on confidence and weighing on the pound. absolutely. still to come. cracking the nut butter market. the success story behind pip and nut which in four years has become a brand worth $12 m. you're with business live from bbc news. london is ultra low emissions zones will come into effect today and other cities are set to follow suit. each car entering the zone will be checked against a database to see whether it's compliant with emissions standards and if it's required to pay a fee. let's speak to ben wicks from go ultralow, the joint government and industry campaign to promote electric vehicles. good morning. explain why this is necessary, in london loosing the congestion charge, is that not enough? the great

jp morgan pointed to a flat interest margin from here. still up year-on-year.the issue is as we saw the margins go up last year, people started pricing that in, and further rate rises through 2019 you have to the beginning of 2019, and the fed has done a big u-turn on the policy, and as a result they were starting to factor in flat declining nim for the blarngs. >> which of the stocks do you own? >> i don't own any of the stocks >>> chicago fed president charles evans has told cnbc that inflation is weaker than he would like to see. he told our u.s. colleagues that rates could be unchanged until 2020 to support the inflation outlook and, in short, sustainability >>> i said i have a forecast for 2% growth, say, in 2019, and it's been decelerating i think that the unemployment rate is likely to go sideways. it's at 3.8. maybe it goes down a little bit. maybe it doesn't what is a little concerning to me is that inflation has been underrunning 2%, and i had been thinking that inflation was finally going to be solid, hit 2% in a sustained basis, maybe go over a litt

at six this evening, jp morgan's -- at six clock this evening, jp morgan's jamie dimon. time for the bloomberg first take. we are joined by gina martin -- and,d, o'brien o'brien.- and emma it is said that the chief negotiator for the chinese is going to meet with president trump today, and we are starting to get what since -- get a sense of what they may be talking about. emma: i think it is pretty clear we will get some kind of interim agreement they will take home. we have xi jinping and donald trump having a signing ceremony. whether it will address those big fundamental issues, i don't think so. i think it will give them both something to sell to their populations, but then things will keep. alix: talk yesterday -- will keep on trucking. alix: that was the talk yesterday. generally the benefit goes to the u.s. because it is all about an intolerance of risk. that is one of the things that frames this wall of worry. until you get broader resolution of some of these geopolitical issues, you see the dollar retaining some degree of stability, u.s. stocks outperforming the

peggy: it looks like traders in general on friday were bullish about jp morgan. we will see if the numbers hold up. if there's any new information, mergers anditi, the acquisitions data is something investors have in clear focus. if the banks come on strong and add onto jp morgan, i think you will see the market take a turn upward. lisa: what i thought was interesting is you see how much the consumer has powered the earnings, certainly with jp morgan surpassing wells fargo in that capacity. a really fascinating development. with goldman sachs, how important is it that their online lending and consumer business really does beat expectations? luke: i think it is important, but goldman has sometimes taken the emphasis out of that. i think it will all be a fairly balanced story. goldman is not the bank we will get the great consumer story from. we've already partially gotten that potentially from bank of america. david: you will also get from citi. credit cards are terribly important to citi, and that may give them a left. peggy: there is something to note about cons

similar numbers to jp morgan,? -- jp morgan,down yet goldman stock goes down. sonali: other thing that were highlighting this morgan where markets, its partnership with apple, and the push towards the consumer. this is something that is new for goldman. it is something they are definitely looking at for growth, even as the core business is trading and investment banking. you see a little bit of headwind moving forward. guy: in terms of what clues we can take from this quarter into the next, what have we learned? sonali: some -- good news is the quarter so far had started off a little better in terms of market activity, which is good news. in the first quarter we had the government shutdown. also, the ipo activity for the rest of the gear will be good news as well. tomorrow morning bank of america reporting, and the next day morgan stanley. the intereste how rate movement is affecting their businesses. are we going to see the same things? vonnie: thank you. our -- sonali bostick on our banking and investment team. what is the outlook for the major banks the rest

jp morgan talking about the oil majors.avid: morningstar will be joining us to talk about bank earnings. lots of reasons to stay. this is bloomberg. ♪ and0:29 a.m. in hong kong 10:29 p.m. thursday in new york. i'm su keenan with the first word headlines. the latest in sri lanka, the government there saying the have sharply lower the number of in theknown to be killed easter sunday bomb attacks. officials now say around 253 is ae died and that downward estimate from an earlier reported toll of 359. they say chaotic scenes immediately after the attacks made it difficult to count the exact death toll. the u.k. foreign office is --ising against all but saying further attacks are very likely. to the u.s. presidential election, democratic contender joe biden says he asked president obama not to directly endorse his campaign. for hisd offer praise two-term vice president, saying they had formed a special bond and remained close. biden says whoever wins the nomination should do so on their own merits. the 76er old and is a crowded

jp morgan chase chairman and ceo, jamie dimon. you mentioned wages. while ago. bank of america followed your lead.now talking about $20 an hour in the next couple of years. do you worry about the impact of that on small business? a little small business owners a a fact to raise them in which 18 or $20 i had to cut jobs. >> i understand that. i do, i think first of all, it's not terrible, i think is different when people raise the minimum wage it might drive some of the business. i think locally, -- for companies that compete, today, the first time in like a long time, low and wages are like 20 percent the last two years. that is what we all want to appear now they are complaining about it. so done properly, we will do fine. also the earned income tax credit. many low skill jobs pay more and have better social outcomes. we had to think on the income tax credit that pays a single mother with two children making $14,000 a year can get a $6000 tax credit. i think that is a good thing because it has dignity etc. a lot of things to do. i worry about that li

jp morgan sword on record earnings. s fargo once again underperformed, the lowest since january 2. while its profit rose, it lowered its 2019 net interest income. you are looking at the j.p. morgan chart. you can see the big spike up on friday. let me give you some of the details before we move on. .9.9 revenue that blew away expectations. ceo jamie dimon cited robust consumer spending, a growing economy, and higher unemployment wages. he said financial markets are strong and consumer and business confidence remain strong. he discounted any chance of a recession. that is the key thing that many investors and analysts are looking for as the rest of the banks report what we have got later on monday as goldman sachs and citigroup are reporting. let's talk a bit about those two. analysts say goldman sachs' top line revenue is expected to decline as much as 11% year-over-year. earnings per share could be much lower. there is also concerns about its legal exposure. that was a big issue last quarter. analysts talk about that ag

to jp morgan has refused adopt a policy to ensure responsible lending to the gun industry. even though you claim that client selection is important yourven though two of competitors have already adopted these policies. my question, will you live up to your own rhetoric, will you commit to adopting a formal policy that ensures responsible lending in your bank's business with the gun industry? >> everything we do is clients goes through a severe process of review. we have very small relationships with gun manufacturers. we have the same gun manufacturers that make military equipment for the united states military and the united states police force. regarding sellers of guns, there over 100,000 retailers who sell guns. everyone that we do business ,ith, we do a thorough review they are regulated by state and federal government, and we -- when we think if they are doing some enron, we stop doing business. >> that is not what i was asking. i was asking for you to adopt a formal policy on responsible lending to companies. >> we consider that, yes. in 2009, i passed the credit car

market mike bell, global strategist at jp morgan asset management. let's check in on the bloomberg first word news. here's kailey leinz. kailey: former vice president joe biden is running for the democratic nomination for president in a field that now includes 20 candidates. biden is 76. his pitch will focus on working-class voters who backed donald trump in 2016. all street is closing in on big win. bankers blasted last year's attempt to tow down -- to tone down trading limits. await as are set to test that determines which trades are being banned. carlos ghosn is hoping to get out of jail for a second time. his lawyers posted bond to secure his release from a tokyo prison. the former nissan chairman is citing charges -- is fighting charges he funneled millions of dollars. global news 24 hours a day, on air and at tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm kailey leinz. this is bloomberg. vonnie: thank you. coming up, and uncertain future for deutsche bank and commerzbank after talks of cons

jp morgan warning of a high percentage fall in trading revenue. much better news coming from citi i guess the bar is pretty low. does that mean there is plenty of scope for positive surprises? >> i think there's far more scope for negative surprises than this front. we've heard some of the investment banks, ubs will announce that their investment banking revenue will be down by one-third overall. that's the most forecast we've heard from investment banks. a whole bunch of activity slowed down tremendously. activity basically dried up in the u.s. and globally down quite significantly. in europe it almost disappeared, and that's going to hit the very u.s. investment banks very hardly. >> i wouldn't expect anything in terms of the u.s. investment banks. that's not the case perhaps with the european ones who have seen a much harder first quarter, but i think we'll just see a basically wait and see strategy and maintain a different strategy there, and we'll wait and see how the second quarter unfolds. >> i want to also talk about the lending side becau

. >> literally, i mean, some great people jacob franco, the head of jp morgan international, chattingm mohammed elarian just a couple of seconds ago as well everyone has got that concern, those long-term concerns about just what is going on as well. delays to brexit, what does it mean are the british going to have to take part in european parliamentary elections if there is a delay to june 3rd we could have meps even after we've left the e.u. as well. really big concerns there as well i spoke to the former prime minister of this country who said to me we could have 28 brexit it's a whole different country if the populist gain power in the european parliamentary election a lot of concerns. i also spoke to goldman sachs asset management, former chairman that's jim o'neil, barron jim o'neil of got league. >>> the most sensitive probably single industry of the u.k.'s positioning global markets and it's already being decimated with just the fear i think it's a crazy idea. >> so in terms of what's happening and talking about the concerns that have the auto industry some would say that's bec

we saw goldman, jp morgan, morgan stanley, hsbc, credit suisse, socgen, all of them revised down theirield forecast for 2019. the average bloomberg has got still sees the 10 year yield ending the year at 2.6%, higher from 249 -- 2.49% now. have you revised down your forecast? >> i'm a little bit offended you have not included us in the list. we just revised our yield forecast down as well. , you have to judge from investors point of view, where are we in the here and now? the forwards are slightly higher but not a lot. our view remains we are going to end the year and the next three months most likely north of the forwards. yieldsyou do see 10 year staying below the 2.75 handle throughout this year. what about bund yields? we went above zero at the end of last week, taking a check on where we are now. we are still holding above zero on the 10 year bund yield. you have the ecb meeting this week. >> let's get the ecb meeting out of the way. i do not feel this week there's going to be anything in it. we have policy announcements. i do nothing we get any details. i think this one is one th

think about it, china and disney and apple and jp morgan.t is hard to be as bearish as you were everyon 12 hours ago you want to look at the red and say what the heck? >> 10-yr did get to three-week high goldman pushes back their forecast for the first hike. they think it will be a hike before we see a cut. they added another hike to their 2021 forecast. when do we start talking about powell here? >> i think we'll hear from a bunch of companies that are not nearly as possible as what we have heard today i think it is difficult to flip-flop again. you just can't be in and out provided inflations staying low. a lot of this because of digitalization i think starting today, i want to transfer and say digitalization means fire people these efficiently ratios are incredible >> no one wants to sit there i want to fire you will see bank of america is so digitalize it is extraordinary. that just means you keep on seeing fewer and fewer people and the company is making more money. >> look at the big company talked about, automation and walmart and ban

jp morgan, we had the reaction that this talks to secession.ho is very well , and the woman who was in charge with cards, and put her into the cfo operation that is a lot higher profile. jason: the picture is getting clearer and clearer. last week we saw jamie aside other ceos being asked about secession, whether a woman might succeed any of them. jimmy didn't raise his hand, and there was some confusion. hand,ie didn't raise his and there were some confusion. this is not the first time this is happened at jp morgan, where they move people around in the senior executive ranks. alix: when will jamie dimon ever retire? jason: ceo forever. i just don't imagine a time when that might happen, unless you have some internal jockeying like with lloyd blankfein at goldman sachs. jason: totally true. the other thing i would say is in the case of both of these executives, it also primes them for a bigger job potentially somewhere else. we seen that happen. david: which has happened at jp morgan. whening about --jason: using about jes staley. alix: our sec

and china and how congress should investigate the fisa process, plus my exclusive interview with jp morgan chase ceo jamie dimon, and his thoughts on how investing in cities across the country plus thoughts on testifying in front of maxine waters all that as we look ahead right now on sunday morning futures. we begin with tragic news out of asia this morning where at least 200 people are dead, more than 400 others hurt in a sears of coordinated bombs targeting churches in sri lanka, eight explosions were reported in the nations capitol this morning three happening in churches where worshipers were celebrat ing easter mass and three others took place at luxury hotels popular with foreigners, president trump tweeted about this this morning, condolences and said that the u.s. stands ready to help. we will keep following this story to bring you any developments as we get them this morning. want to kick it off here with the mueller report now the special counsel finding there was no conspiracy between the trump campaign and russia, however the democrats are making it clear they want more invest

jp morgan up almost 4% after its earnings. chevron on this major deal to buy anadarko, down by 5.3%. let's continue with more from the imf world bank spring meetings. tom keene is there with a special guest. a special guest. thank you so much. to all of you worldwide, an important conversation on the ands of politics, finance, borders and tension. that can only mean austria. austria is at a point and its history where they are front and center on these themes. with our stuff finance minister finance mr. of austria -- finance minister of austria, hartwig. -- hartwig loger. right now, your politics are remarkable. how does your finance fit into their coalition and populism of austrian politics? loger: the politics are strong in a conservative way. we first have the long 65 years and will reach a budgetary surplus which was down the last time in 1954. over this time, it will be the , so out ofin 2019 these, we try to stabilize and look forward to seeing enough money for investments in innovation, things like that. tom: there is a

jp morgan shares jumped the most since 2016. earnings top estimates.go tumbles after lowering its interest income forecast. goldman sachs and citigroup today. nejra: good morning, everyone. we are just under an hour from the start of cash equity trading in europe. on friday, banks were some of the best-performing industry groups in terms of the stoxx 600. it was some of the commodity companies and oil and gas companies that really give a lift to that s&p 500. oil had a good run. the s&p 500 broke through that 2900 level for the first time in six months. we are within 1% of a record high. how much further can it go? we are steady on futures and that is how we are set up in europe as well. slightly more positive. by 0.20 futures higher percent. cac 40 futures edging into the green. a little bit of risk on in today's markets. of course, we saw that reflected in the 10 year treasury yield on friday. how are we set up today? matt: --manus: citigroup with a big note out saying you have the highs, take your money and run in terms of yields. why? let's have a

breaking news on jp morgan. some shuffle at the top. may 1.fo will be named . . jp morgan.ion link will be ceo of the consumer part of the building. move.e: an interesting this is bloomberg. ♪ caroline: time for a look at what stories are trending. we just had several traders in new york and london. the bank making a renewed push after it brought on senior staff last year. to help expand. greek yogurt sales continue to fall. with it being low in sugar and high in protein, farmers hope the new variety will help lift them out of years of lackluster demand. tictoc on twitter is reporting the most important meal on the day is more expensive depending on where you live. the price of breakfast is rising faster than incomes in south asia and sub-saharan africa. the most supportable in switzerland. you can follow all of these on bloomberg.com and tictoc on twitter. now we are also going to be taking our attention to bugatti. it was celebrating its 1/10 anniversary with a limited 110th anniversary with a limited-edition car. the price tag is $3 billion. -- million. >> the idea is to

remember when jp morgan saved the system jamie dimon is jp morgan thought that corporations are what'sreat for society is coming true. because they're not political. they're just trying to do -- look, equal pay. has anyone come on and said i'm not in favor of it because women take this nine weeks off to raise a kid? my ex-wife, dare i call her that, she took three days off. not a great call ill advised. i pressured her to come back i was not a great guy. it was a little bit longer i talked about the alcoa quarter when my daughter was being -- >> you have redprets. >> serious regrets about the way i lived my life and that's why i wrote that book. jamie dimon, these people are saying enough. we're not going to sit here and let our plan be destroyed. we're going to talk about it now we have to move on. >> we do dow is up almost 100 lyft above 72. tesla off the initial lows bob pisani >> straight up, intel, boeing, caterpillar, industrial strong here semi conductors opened flat. that's been the big market leader, up fractionally, consumer discretionary, retails have been strong recently. e

for example, jp morgan, while it has cut certain areas, has overall added basically all of the peopleafter the crisis. while they are doing certain things in certain areas, jp morgan is also trying to expand branches now. that is another trend for 8, 9, 10 years since the crisis. the biggest banks, and even small banks, everybody cut branches. they closed down branches, and now they are slowly looking to reopen branches. morgan,america, j.p. even citigroup is doing the same. there are certain areas where there is growth, and yet there will constantly be pressure on other areas. asset management is another one. the big banks all have mess it -- all have asset management, but even the big banks and lower-cost funds have really eaten into their profits, so that is the trend. there will be parts of the business that keep losing people, definitely. management' asset 'sen looking at deutsche asset group. the other deutsche bank story i want to look at is that compliance officers in florida at a pretty low level flag some bag believe your -- some bad behavior at deutsche bank, and nothing wa

and then we've got the debbie morgan story -- the jp morgan story. vonnie: the ceo warning investors to get ready for more wild rides ahead. he wrote this. the fourth quarter of 2018 might be a harbinger of things to come." we are joined by the ceo of the love consulting. i know you are a little trepidation of what is to come. is volatility a part of it? guest: it is part of it, but there is more. i think the key is in the united betes, the market seems to believing that the fed has changed its course to easy money. that is not right, in my view. the first quarter we have seen so far in the stock market is pushed by two special factors. one is the repatriation of funds by multinational companies, and the other is the treasury reducing its account at the fed. both together have been a relief to the credit and financial system of $200 billion, and that amount is behind the rally we see in the stock market. both are one-off factors, so when they have run its course, then we go back to tight money. you will see that in the rising u.s. dollar. as soon the

. >> i like bank of america but i'll come back to jp morgan. bank of america was good and there was an ill-advised person downgrade and it is expensive and not as cheap as citi and i like jp morgan better. today bugged me. i'm being real honest. some stocks were plain out stupid but that 10% in opportunities like apple and once again congratulations to tim cook and those who want to criticize him, let me tell you, i'm giving my address at the end of the show. "mad money" tonight, it is a company with over 800,000 businesses like kylie cosmetics and two mentions of kylie so far in the show but is there still time to buy shopify. and i'm talking to the top executive. and then i'm coming down on a company. and my exclusive with zebra technologies has the company changed their stripes? we'll see. stay with cramer >> announcer: don't miss a second of "mad money." follow @ jimcramer on twitter. have a question, tweet cramer on #madtweets and to cnbc.com or give us a call at 800-743-cnbc ss something head to madmoney.cnbc.com. alright boys, time for b

that was hannah addison from jp morgan in hong kong.secretary steve mnuchin, it will be included in any usjapan trade talks. that brings us to the next topic, currencies. let us look, we're watching very closely, with the ongoing brexit negotiations we have talked a lot about the stirling lately. with major elections taking place in asia, both india and indonesia are in focus as well. tens of thousands of indonesians will be voting on presidential and parliamentary elections this week after campaigns focused on the economy. this is our some of the major after campaigns focused on the economy. this is our some of the major currencies after campaigns focused on the economy. this is our some of the major currencies will after campaigns focused on the economy. this is our some of the major currencies will start after campaigns focused on the economy. this is our some of the major currencies will start the monday trading session. market a nalyst monday trading session. market a na lyst jeff monday trading session. market analyst jeff haley m