jpmorgan -- you lost your name tag. >> thanks. for you southern rock fans out there, i know you're out there. american by birth, southern by the grace of god. this is the album cover that came out on october 17th, 19 -- look at that. in you go. they had to pull that one for obvious reasons three days later. look at that. skynyrd, folks. go out and buy it. jefferies, by the way-s your street survivor. stock was on fire today. no pun intended. >> terrible pun. >> i dig jpmorgan. i dig jefferies more. and i -- >> anybody a buyer of jpmorgan? >> i own it. and i think the other thing about it is the possibility that they may -- and they did allude to this. may move the whole dividend stream even higher. >> the thing they really got from bear stearns that had the most value i believe was their prime brokerage business and all the custodial business. that was bricks and mortar, blocking, tackling, pick your cliches. that's what bear stearns did very well in addition to other things. very valuable. >> got to go. final trade right after th

our next guest wrote the deal of the century in, between barclays and jpmorgan. joining us is tom janot. i loved what i said where it was a knife fight in an operating rom. >> this is during the most ka lambitious week in capitalism since the great depression. i went in thinking the barclays purchase of lehman brothers would you say going to be sort of heralding a kumbaya moment. >> no such thing. >> definitely no such thing. >> they went at it pretty hard. >> tell me about the knife fight part. this part of your story, which i had forgotten about or maybe never knew, that jpmorgan took $7 billion out of custodial accounts from barclays. that's the kind of thing that could have stimulated a run on the whole bank. i assume that was deliberate. is that the knife fight? >> that's the knife fight that we're talking about. the $7 billion was put in the barclays account because of the -- some of the difficulties -- at the heart of the deal of the lehman/barclays/jpmorgan deal is a repo trade done at the behest of the fed. due to some difficulties in that trade, barclay

david kelly at jpmorgan funds tearing up on power lunch. fifty is going to tell us about the economy and david is going to rap. find out you how they plan to get rich or die tryin' live and censored at 1:00 p.m. today. >>. go for it. >> that's still your read it. >> says that mark was supposed to say word to my peace. >>> and mark felt that would be really stupid to say. >> all right. now it's your read again, mark. >> yes, it is. >>> up next, from fifty to two of our own dime thesis. >> i don't get that one. >> ninth to 'do ice, it's the triumphant return of the c ochk and the brain. they are tackling big swings. >> why have so. you been click on jp morgue? is it because the stock is above 160%. >> six months ago today or tomorrow. >> tomorrow. that's right on the ninth. is there something else at play? we'll ask jeff hart. you're watching "squawk on the street." we'll be right back. it doesn't cover everything. and what it doesn't cover can cost you some money. that's why you should consider... an aarp medicare supplement insurance plan..

is jpmorgan going to be forced to slim down?question. >>> gold and oil, they're both very hot here today. again if you had a million dollars -- this is woven into the show, has it not? where is the better bet? you're watching "squawk on the street." national car rental knows i'm picky. so, at national, i go right past the counter... and you get to choose any car in the aisle. choose any car? you cannot be serious! okay. seriously, you choose. go national. go like a pro. >>> jpmorgan, chairman and ceo jamie dimon slamming the idea of too big to fail. listen. >> i think it would be very bad long-term policy error to have banks too big to fail. by that, i don't mean make the bank smaller. i mean, we're large because we have a reason to be large, but that you don't want -- you don't mind if a company fails. what you mind is if a company fails and it destroys your economic life. >> even if we all agree that too bag to fail makes for bad policy is it realistic to think that regulators to fix that policy? soon your fellow of economic f

jpmorgan helping. maria? >> yes. up next, we're talking about non-traditional safe havens that could help you protect your portfolio in the event of a downturn. it certainly feels like a lot of momentum on the sidelines with money moving into this market. but you never know, september has not been so consistent on the upside, that's for sure. >> i still want a free book. hey, it's great to see you're back after that accident. well...i couldn't have gotten by without aflac! is that different from health insurance? well yeah... ...aflac pays you cash to help with the bills that health insurance doesn't cover. really? well, if you're hurt and can't work, who's going to help pay for gas? ..the mortgage, all kinds of expenses? aflacccccc! it's the protection you need to stay ahead of the game... exactly! aflac. we've got you under our wing. aflac, aflac, aflac... aflac, aflac, aflac >>> welcome back. we're in the final stretch here. about 20 minutes before the closing bell sounds. we've got a market that is breaking outs

jpmorgan upgrading kb homes and toll brothers.n saying it believes the worse is over for the housing sector. interestingly, though, this comes 24 hours after the founder of toll sold 1.58 million shares of his company on september 16. so i don't know, that seems look a bad sign. >> well, they're not alone, by the way. i mean, insider selling over the last few weeks has outpaced insider buying something like 80-1, which tells you that a lot of people -- and look at companies. they're all selling as much stock, but with toll it is particularly disconcerting. if you look at the housing sector, though, i think next week we really have our kind of proof in the pudding data. we have housing starts, we have new home sales. these are the figures. and ultimately the housing price index, which is up 6 of the last 7 months. you've had a lot of people who are looking at the banks and looking at the consumer and saying the worst is over, have to be pointing at these numbers. we'll see. >> well, there's also a bill introduced yesterday by harry

that's according to jpmorgan. throwing it out there. if we are to adjust for inflation gold should be much higher. >> and i think a lot of people would have thunk that. we've talked all along for the last three weeks with the consumer exposure -- gold has become an asset allocation, if you look at the gld, all these etfs. this is not a big surprise. and when you also factor in that some of the biggest institutions in the world own goldman, it's not just a trade for them. if you go back and look at these people like paulson and whatnot. we've done a lot of analysis of it. but don't look over the last quarter, look at the last five quarters. these guys were in this trade, maybe not the same size. they're not going to be out of the trade next quarter. this its part of their allocation. >> and the gold futures market is doing you a favor right here, providing you a technical range to give you guidance what to do with the trade. 996 which was yesterday's lowish breaks below there you move to the sidelines in the trade. it is having trouble g

and it was interesting because he's talking about tom lee at -- >> jpmorgan. >> at jpmorgan.e mentions some of the buy-rated names at jpmorgan that are heavily shorted and then also says also there are four names that are neutral that are heavily shorted that they think would be a buy and ge is one of them. that is his firm going overweight. >> at the same time, if you had bought i think since march the stocks that had the biggest jump in short interest, they joe outperformed the following month. >> which is why so many times which we have someone in here saying the fundamentals don't back up where the market is, it's ahead of itself, the economic backdrop doesn't validate -- it can be as simple as a heavily short name. >> did you see the post cover over the weekend, mayor bloomberg making those those comments? he had said off cuff, if you want to help things out, you should go out, buy stock in ge and sachs and macy's. if you followed his tips from that day in august, you would be up $137% so there is a reason that he is a -- >> hog was upgraded, too. channel checks makes th

kb homes upgraded at jpmorgan.ir average volume and it's only "power lunch" time, sue. back to you. >> thank you, matt. according to standard & poor's, 250 companies lower thaed their dividends. are dividend stocks still a good bet or how do you pick them or might real estate and reits be good for you. gentlemen, welcome. nice to have you here. >> thanks for having us. >> scott i'm going to start with you. dividend stocks have traditionally been a good bet but in the last year or so we've seen a lot of companies be forced to cut the dividends. how do you know when you're in a stock that will give you a good and secure dividend return? >> when we first pick a stock for its dividend, we make sure there's enough margin of error. we look at the payout ratio f you look at the projected earnings, let's say it's $1 and the diffident is 50 cents. you have 50 cents of cushion. that's a lot of protection in case earnings don't come through. >> how do you allocate a typical portfolio? how would you divide it up for me? >> wel

jpmorgan, morgan stanley, deutsche bank closing up about 4% apiece. certainly nice moves here. we have some comments out of wells fargo's ceo david stump early on in the session from a conference he was at saying the company has 21% of credit for losses tied to the bad loans it acquired from wachovia and apparently that was enough to make it a little more bullish on wells fargo. >> 7.3 billion they've used the 40 billion that was essentially priced in. barclays has sold 12.3 billion of their riskiest credit assets to a u.s. hedge fund. they're getting the stuff off the books or things aren't as bad. so npls are contained. they're not in great shares, but that's what people are looking for, so going forward people can -- >> on a different -- no, i'm not laughing. i would never laugh at you unless you made a joke, and that was not a joke. but when you're talking about loans -- i don't think that was a joke. if you take a look on any other market day you would read the comments from stump saying non-performing loans, he didn't say they bottomed. the regions financial ceo said yest

. >> we've got management changes at jpmorgan. the stock not really being affected. >> it was an interesting time to name potential successors. jeff staley, who ran the asset management part of jpmorgan, is being brought over to run the investment bank and the two fellows running that, there will be a few changes. steve black will become the executive chairman and bill winters will be leaving. staley, who's running the investment bank, will be the first in line. stealy has been there for many, many years, but it's an interesting time to bring this up. >> thanks so much. we want to head over to julia boorstin on the west coast with breaking news on youtube and warner music. >> they've announced a revenue sharing deal. this comes after a nine-month standoff. warner pulled all of its videos off the site, saying they weren't being paid enough. this new deal covers the full catalog including youtube official videos and content. unlike some licensing deals that require a fee, this deal is a pure revenue-sharing deal and warner music wil

and also jpmorgan, because they don't have that much exposure, as i said. and because they have a nice balance between the capital markets and the more traditional lending side. >> what about regulatory changes? today we're seeing the federal reserve is really watching compensation, that's one thing. a lot of people worry that's going to impact talented people working at these banks. then, of course, with the financial reform on the table, you are going to see bigger government and more oversight. does that cut in any way? >> it could. the thing we're worried about the most, actually, is the degree to which regulation might force down the profitability of some core businesses, such as commodities, and derivatives. although we're actually confident that the legislation, or regulation which is going to pass, is going to be reasonable, because i think that governments around the world are sensitive to not completely destroying liquidity in the market. so we think that it will be reasonable regulation, and not out of line with what the markets really need. >> g

also helped by an upgrade by jpmorgan. aig is very strong again today. almost 9%. genworth, and citi, they think that stock is headed to 44. let's begin with mr. apple in midtown, scotty wapner. >> nasdaq off the best levels of the day. we've been outperforming the other major averages for much of this session. we're up about two-thirds of a percent. technology stocks mostly to the upside. apple turned negative, down more than 1%. you know about the big event out in california. the new ipod announcements, the price cuts and suf. perhaps investors were looking for a blockbuster announcement. that's why the stocks moved lower when they really didn't get anything tremendously new there. google higher, cisco higher. moving moving into the chips base today. this is about the lows of the session right now, down 7.5%. downgraded over at credit swiss today. the stock's been fluctuating between positive and negative territory throughout much of the session. sandisk off deutsche bank upgrade on improving demand is what deutsche bank was talking about. vivus pharmaceutical o

power or authority to tell jamie dimon, you're going to have to raise your capital requirements or jpmorgan chase is now too big? >> well, see, you put your finger on the key issue here which is whenever you give government regulatory power, what happens? the powerful interest groups, whether it be jpmorgan chase or some other institution, the powerful interest groups get the lobbyists, the insider access, and they begin to work the system in their favor. that's why regulation is very bad for the smaller banks and for our dynamic economy. we wind up creating it cartel of the big firms that are protected by the government regulation and so, in other words, i have zero faith that the regulators would do the right job and so the idea of giving them more power is like giving alcoholics the keys to a liquor cabinet and assuming it's going to be good for their health. >> it's hard to argue that the fed is influenced by lobbyists. that speaks against giving the power to -- >> but isn't jamie dimon individually because he run a good bank, he has sort of been imbued with this he is do no wrong in th

jpmorgan had a positive stock if upgraded the two stocks. those had generally positive comments on the home building sector. they're up 3% right now. procter & gamble got an upgrade at citi group. talking about their ability to win back market share in the near future. that stock is opening up 2%. barclays had positive comments on the first quarter 2 010 gdp, raising forecast up. we have a lot of orders into buy to sell on the expiration. right now, brian, we are sitting just about at new highs for the s&p. we need another point or so. if we close here, it will be a new high. at the nasdaq? >> we're looking positive. i'm going to keep an eye on the tech sector. maybe it will push through today. quick check on the top stories. palm down quickly 1%. open slightly positive. they lost less than expected. they say it's smart phone shipments were above shipments. you heard the analyst come on, they want to know how many pres were shipped. apple and google saw price targets raised at various firms. yesterday's lag, quick check, intel up. research i

jpmorgan. when came out with a $58 price target. that was impressive. talking about failures not as big of a concern so he's pushing up jpmorgan. love that name. i agree with him wholeheartedly. >> these consumer debtholders you look today, talk about, household network up $2 trillion, quarter on quarter. that is the first quarterly increase we have had since q3 of 2007. so the balance sheets of the consumer are getting a little bit better. >> right. let's move on to another stock topping the tape today and that is amr corp. company american airlines surged 20%, be a to raise $2.6. news of eastman kodak managing to raise private equity cash. and karen, you're also noting blockbuster also. everybody's raising money, taking advantage. >> first it was going to be 340 and they nearly doubled the size. it is amazing to be to me, if you look back not so long ago, each of these deals would had been impossible. wouldn't have even left the drawing board and then all three of them got done successfully is kind of amazing to how quickly the debt markets have recov

jpmorgan upgrading kb homes and toll brothers. they say the worst is over for the housing sector interestingly though this comes 24 hours after the founder of toll sold 1.58 million shares of his company on september 16th. so i don't know, that seems look a bad sign. >> well, they're not alone, by the way. i mean, insider selling over the last few weeks has outpassed insider buying something like 80-1, which tells you that a lot of people -- and look at companies. they're all selling as much stock, but with toll it is particularly disconcerting. if you look at the housing sector, though, i think next week we really have our kind of proof in the pudding data. we have housing starts, we have new home sales. these are the figures. and ultimately the housing price index, which is up 6 of the last 7 months. you've had a lot of people who are looking at the sxwankz looking at the consumer and saying the worst is over, have to be pointing at these numbers. we'll see. >> well, there's also a bill introduced yesterday by harry reid to exte

david kelly, the chief market strategist at jpmorgan funds and 50-cent.o say his name. this guy has the midas touch in the business world. >>> also, we're looking back one year after the beginning of the meltdown in our markets. soul searching about investing. does buy and hold strategy still work? diversification? >>> plus, oliver stone's back on wall street today as he begins filming the remake of his cla classic film, wall street. >>> up next, sales for the ultra luxury automakers may be down, but they're not counting out the u.s. consumer yet. >>> and releasing new models new out this fall. you're watching cnbc, we are first in business worldwide. >>> the world's producers -- much larger than wall street's estimate. this due to low prices and weak export demand. right now, the stock is off about 2%. smithfield foods, on the downside. >>> the news on gm and chrysler have been dominating. they're getting ready to introduce some new models out this fall. >> there's a market out there and they're going to have a lot of choices. people who are wealthy enou

jpmorgan doesn't think it's going to move that application. apple this morning is down again off by 35 cents he open here. let's move on over to sharon epperson down at the nymex. >> bertha, we're looking at gold prices at $1,010 an ounce, up $13. closing in on that all-time high with the momentum trade we're looking right now with that all-time high being $1,033 an ounce. we are looking at high volume, high open interest, all of that helping to fuel the trade and what has become a familiar force according to rbc capital markets george with the weaker dollar. dollar index at the lowest level in a year. and then, of course, higher crude prices and higher gold prices. looking at oil prices above $72 a barrel here at the nymex and higher in london as well. and the other part of the energy complex that is higher today, natural gas. natural gas continues the rally after that really sharp rise yesterday, up 15% in the session. follow that energy department report showing that the storage levels that had increased, did so less than expected. we are l

also ups raised overweight from neutral at jpmorgan here today. they say the company's performance in improving economy is underappreciated. lastly, we talked about mcdonald's. the disappointing comparable stores for august coming in almost right down the line worse than expected, except for europe which had a surprising 3 1/2% growth. a big disappointor here today. mcdonald's has already been beaten up in the dow. it's the lone loser from july 1st who really did not participate in the summer rally. let's get to scott wapner at the nasdaq. >> thank you. flat to slightly higher open is what we're looking for here. most large cap technology stocks mixed. apple is holding the big developers conference or ipod event in san francisco and jim goldman will be there. certainly this morning it's down just about 5%, palm. the downgrade came from credit suisse from neutral to out perform. cut from 12 to 16. altera says market conditions is improving. sandisk is upgraded at deutsche bank. vivus, positive results for obesity drug. cree is down 4 1/2%. secondar

jpmorgan up better than 4%. goldman sachs up about 1 3/4%. citigroup up as well by almost 5%.t'll do it for us on "the closing bell." oil prices also a story today. by the way, oil finishing up $1.84 a barrel, back above $71 a barrel she tried to say. have a wonderful evening. i'll see you tomorrow. "fast money's" up next. thanks for being with us. >> announcer: this is cnbc.com qult news now." >>> brazilian stocks closed at a 14-month high as moody's upgrades its rating on the country's debt to investment grade. brazilian stocks up over 64% this year. and bank of america's ceo ken lewis does not plan to resign if he's charged by new york's attorney general in the merrill disclosure case, but he probably would step down if charged by the s.e.c. that according to cnbc's charlie gasparino. that is cnbc.com "news now." first in business worldwide. "fast money" with melissa lee starts right now. >>> live from the nasdaq marketsite, this is "fast money." i'm melissa lee. stocks hitting new highs for 2009. these guys are ready to tell you where the fast money was playing today. also

airlines as well getting a bump by an upgrade by jpmorgan. let me note here that commodity stocks are up now, so there are a lot of cross currents in this market today. we're watching a dollar, the direction of oil and as i said, commodities, which started to move lower have moved up. >> one day after delivering a major speech, president obama continues to keep the pressure on health careinsurance. john harwood in d.c. with the details. >> he is trying to keep the pressure on insurance companies as well as his partisan opponents on the republican side. he reiterated a lot of the message he had from his speech last night including the line that he had in which he said he wasn't going to waste time anymore with people trying to kill his plan as opposed to improving it. >> we don't need more partisan distractions. if there are real concerns about any aspect of my plan, let's address them. if there are real differences, let's resolve them. but we have talked to issue to death. the time for talk is winding down. >> here, it's important to recogniz

air coming from jpmorgan. the real downer today is santo. 2010 earnings below the street view as well. we are holding on to gains. it appears that we are sort of holding in this tight range over the last couple of hours as the dow is good for about 20 points upside. technology a leader today. >> the internet, yahoo upgraded today, bank of america and merrill lynch saying they see better business. carol barts was on this morning, might want to look at that on cnbc.com. the stock up better than 4%. ebay also gaining. google is positive at the moment. the other big story, those chip companies boosting their outlook. hand set makers, a lot of them riding along with texas instruments to highs today. let's move over to sharon at the nymex. >> thanks, bertha. opec left production levels unchanged. we got a report from the international energy agency this morning. their demand forecast is higher, but that's not really what traders have been focused on in the last hour. they've been focused on the nrng departments leve

travelers which wasn't in the e dow 12 months ago, jpmorgan as well as 3m. what happens next? let's get your cnbc edge. joining us, jamie cox, managing partner, christopher zook. welcome to you both. christopher, i want to start it off with you. even one year after the collapse of lehman brothers you say that you want to short some of the regional financials. we all know that the next shoe to drop or conventional wisdom is that the next shoe to drop is commercial real estate. if everybody acknowledges that as the next shoe, can it be a shoe and then a reason to short these names? >> the reality is that so much of what they're saying in commercial real estate is pretty obvious. the light at the end of the tunnel is a train coming at us and people are ignoring it right now. there's no way to avoid the contraction we're going to see in commercial real estate. the big banks, the two big too fail banks, they're going to be all right because they've rebuilt their balance sheet and gotten enough capital. the problem is on the regional side there's simply not enough capital available

new highs, jpmorgan doing well, goldman sachs at a new high. general electric, our parent company, when it hit $15 late in the day, boom, stocks moved up. we're getting modest breakouts with key names. that's going to be the story here. once you see these technical breakouts, holding up and smoothing the market forward in key stocks, that's going to keep the bulls talking about where the market goes next. mostly to the up side. that's where the bulls are right now. you know who's next. >>> there's the closing bell. do you know where your money is? welcome to the "closing bell." here's what we're following at the close. a late run by stocks helping erase earlier losses. the major averages ending the day in the black. shares of general electric, the parent of cnbc, helped lead the reversals, spiking to $15 for the first time since january.. a federal judge rejecting bank of america's settlement with the s.e.c. over bonuses paid at merrill lynch. >>> here's a look at wall street. after spending much the session in negative territory, the dow finis

jpmorgan led the market. citigroup is reportedly cutting back on branches nationwide, focusing the pluck of its business overseas. now citi will be in just six major u.s. cities. some say the move could make waves in washington considering the u.s. government bailed out citigroup last year and now has a 34% stake in the company. >>> also dragging down markets, the price of crude slid nearly 4% wednesday, settling below $69 a barrel after reports of rising supplies. shares of sisco fell 2% wednesday weighing down the tech heavy nasdaq. the number of americans unale to pay credit card bills rose 1%. the a lot of debt charged off hit a record high as americans struggled to find jobs. >>> japan's sony reported global retail sales of its latest cut bright model of the playstation video game console had hit 1 million in the three weeks since its launch. >>> finally, if you've ever wished you had a segue that fits indoors, honda's new mini transporter might be your answer. the unicycle will keep you on your toes, th

jpmorgan chase went farther, to reduce overdraft fees and and the practice of reordering transactions to generate more fees. consumer groups say that all our welcome changes, but not nearly enough. >> overdraft fees are one of the most abusive practices currently out in the marketplace. >> watch your account balance closely, and try to maintain -- if your bank would not let you opt of overdraft protection, shop around. bank of america says it is making the changes now to provide immediate help to customers who repeatedly overdraw their account. but by addressing consumer complaints, banks also hope to quell demands for a crackdown by congress. lisa myers, nbc news, washington. >> your 11 insta-weather + forecast. >> it is a sticky afternoon out there. height dew points before the front gets through. we will stay humid and we're pretty well as well. we are seeing a cloud cover on the visible satellite imagery. massive moisture to our west. it will take us 48 hours to get through. we are, concerning the weekend, at least part of it, expecting some showers. the temperatures are just real

the second one would be jpmorgan. i'm going to exclude bank of america. wells fargo went up during the president's speech as did jpmorgan. what does it say? they are in compliance. that would have been good to say we have found good banks and bad banks. people want retribution but they also want success. you have to throw some people to the lions.. he didn't throw the bad guys to the lions and didn't talk about the good guys. we believe in a black and white villains and good guy situation in this country. he has to give us the villains and he can cheer the heroes. >> thank you. much more of jim tonight. jim has a strong view on what the headlines mean. that and his lehman trade, obviously not lehman itself. >>> will hedge funds be the target of president obama's reform agenda? one of the highest profile people in the business is going to be our guest. he isn't called the grave dancer for nothing as o-- he's investig in real estate somewhere else. find out where. >> all the recommendations he can pressed by jim cramer are solely his and are not the opinion

jpmorgan has gotten bigger. they still have investment banking, commercial banking and a whole lot of things under one roof. maybe the fundamental question is are we going to go back and should we go back to a point where you have a bank that deals with deposits and a bank that deals with investment banking and those two things should not be under one roof. is that something you'll seriously consider? >> you want to look at this and determine, if you're that size, what are the capital requirements, what other conditions should be imposed upon you if you become that size of an institution so that you don't run into the problems we've seen, taking risks that put those institutions in the kind of jeopardy we saw in the past year or so. so i think rather than naming institutions, rather we need to describe criteria that has to be applied when you become an institution much as you've die described. it would impose criteria on it. it would make it far less likely that they're going to fail. >> senator, can't let you g

goldman, morgan, jpmorgan, likely to report before october expiration. if you own some of these banks in your portfolio, you may want to get some protection that doesn't correlate directly with the single stock. you're not collaring those things or buying puts, you may want to look at the xlf, the etf on the banks. i was looking at the october 15-14 put spread. i'm paying 50 cents for the october 15 strike put and i'll sell the october strike put for 20 cents. that structure costs me 30 cents. my break even is down 3% at 14.70. my max gain is 70 cents, more than two times your money at 14 or below. how do i lose money on the trade? really if the etf is above $15 on expiration you lose your money. >> similar strategy, mike. but a different time frame. >> one thing you want to look at, make sure you give yourself enough time to make it work. another thing with an index, you have less risk this thing is going to go straight to zero. it can be a remarkable decline, but that's less of a concern. i'm looking at the 15 by 13 one by two put spreads. i'm going to

for its part, jpmorgan chase says it will cap the number of overdraft fees it charges in a single dayt three. chase will also stop charging fees when accounts are overdrawn by less than $5. that's it from cnbc first in business worldwide. now back to msnbc. >>> welcome back i'm tamron hall live in new york. >> i'm norah o'donnell live in washington. >> president obama is reportedly considering an entirely new strategy in the war in afghanistan while the pog today said he could expect the top u.s. commander's request for more troops by the end of this week. but a story in today's "new york times" says vice president joe biden's call for scaling back u.s. troops is also under review by the president. this, as a new nbc news/"wall street journal" report shows support the war is slipping. look at the numbers, 59% of americans less confident the war will end well. 51% oppose sending more u.s. forces and 38% want an immediate and orderly withdrawal from that country. in morning, senator john mccain said president obama should not wait to send more u.s. troops. >> it's clear we need addition

. >> i want you to know, jpmorgan thinks fdic is a good credit and we'd be happy to lend you money if you need some. >> i'll bet he is. jamie diamond also told maria the notion of too big to fail only becomes a big concern when it impacts an individual or nation's economic life. from trade talks to climate change. will the g-20 meeting in pittsburgh result in any break-throughs? remember the anticipation of hearing the ice cream truck? in poland, cargill borrowed the idea... for something quite different. small polish farms had difficulty getting... affordable feed for their smaller herds of animals. so cargill created a way to bring the feed... directly to them... on musical delivery trucks, selling a few bags per visit. ( dog barks, horse neighs ) keeping the small farmers competitive, and their animals happier. this is how cargill works with customers. >>> in minutes, president obama holds a press conference from the g-20 summit in pittsburgh. the day already bringing big news, word that the u.s. has been tracking a secret iranian nuclear project. the second day of talks focusing o

we still have david kelly of jpmorgan funds with us. what is gold telling us right now?o you make of that? >> it may be some of this fear about all the fiscal expansion from governments around the world. if you don't -- in the end if everybody prints too much money to try to monetize this debt, then obviously that's positive for gold. >> are you worried about inflation? >> no. i don't think inflation is the problem. i think debt is the problem. in fact, we've got -- >> by implication the rise in debt leads to an inflationary because of the expansion of the money supply. >> not for a number of years anyway. you'd have to get back down to full employment and it's going to take us years to get to full employment. i don't think there's a reinflation threat here. i also think on balance uncertainty isn't rising, it's coming down. i'm not strong on gold right now as an asset class. >> and you've also made the assumption that the federal reserve would aid and abet the congress, right? i mean in theory they could work against each other if -- >> that's right. in fact, it would b

jpmorgan's jamie dimon announce management changes and jess stacy is in line to be the next ceo of jpmorgan. there's a report in "the new york post" that john paulson is considering merging cit with indymac. just a report in "the new york post." mr. shactman, how are we looking at the nasdaq? >> premarket indicators we'll open up, but other indicators show we'll open down. jeffries has nasdaq down. broadcom got a boost from cisco yesterday and a boost on their own today. a report out of the dow jones that dell executive says they will exceed their predictions for q4. baidu is testing a wireless service in japan. keep an eye on that stock. sequenom had a treatment for down syndrome, they fired their ceo, the head of r&d and the cfo steppeded down over that data. that's down 40%. >> democrats are set to introduce their climate change bill this week, set to carbon emissions and towards a greener sources. meantime china is is making a huge play to corner the financial global market it's getting set to make a $1 billion stake in nigerian oil. 23 different blocks that may be up for discussion. 16

jpmorgan turned it around late. some of those financial names, all of a sudden the bears are look for the next reason to say this market's not going higher and the market's going higher. >> and it's clear i've been bearish but we try to bring smup trades that will work regardless. and hewlett-packard is the name we mentioned specifically the day dell reported earnings. we said look, if you like dell you've got to like hewlett-packard at 11 times forward earnings. look at hpq today trading at the highest levels we've seen since last september. tomorrow they're speaking at a citigroup global technology conference in new york city. might want to hear what they have to say. but i think hewlett-packard works on any type of tape -- >> what do you make of the ibm news? 970 for earnings for the year. the street's at 9.73. >> yeah, it's a bit of a sandbag. yeah, we'll make 9.70. they'll make more than that. i think what's more interesting about ibm something pete and i saukd about it this morning, was one of the shops came o

. >>> wells fargo didn't take long to follow the bank of america or jpmorgan chase. customers at wells fargo and wachovia will not be charged with they overdraw an account by $5 or less. and they can opt out of overdraft coverage. >>> boeing is looking to get in the aerospace business. the aerospace giant is looking to take astronauts and even tourists into space. the company is working with nasa to build a transportation system to the international space station and other desations. >>> in today's "new york times" tech report, hewlett-packard adds apes to the video frame. it has widgets that pull photos from facebook, lets you listen to radio, play videos and check the weather. "the new york times" sam grobart says, it's a good idea, but still needs improvements. >> it has a very pretty user interface. it's unfortunately rather clunky, though. it looks great. but it's hard to use. the other big problem is, although it can download widgets, it can only download the ones that hp has made, which number about, oh, a don. >> you can read a full review of the hp dreamscre

the chief economist at jpmorgan chase told bloomberg thanks to the slump, the economy may see its slowest recovery since 1945. as for the number of stocks, a five-day winning streak. concern over earnings growth overshadowed a consumer confidence report. the same concern driving stock futures this morning quite a bit lower. health stocks a major focus this week. chairman max baucus saying he'll make one last attempt to win republican support before he joins other democrats in an effort to overhaul the nation's health care system which could include a government-run insurance option. rising health care costs now account for a sixth of the u.s. economy. the republicans worry the plan may add too much to the federal deficit. that's business news at the new york stock exchange. i'm jane king for bloomberg news reporting for wbal-tv 11 news. >> we'll see you back here at 6:15. >> 5:22. 59 degrees on tv hill. coming up, another look at your morning commute with traffic and weather together. >> plus, it's the subject of our "watercooler question of the day." jay leno's big move to prime-time. we

and jpmorgan chase says $5 or less. that $5 cup of coffee won't cost you $40, which is the kind of things we've seen. additionally, both banks are saying, they're going to change the amount of overdrafts they arge you in one day. so, that bank of america says, you're not going to pay for any overdrafts after four overdrafts in a day. before, it was ten. they could charge you were ten overdrafts in one day. now, they're saying, after four, you're not paying. and jpmorgan chase says three. before, it was six. that's a big deal that will save a lot of money. >> the other big deal is rewarding. you told everybody what the banks do to get more fees. take us through this and what's changing. >> this is another big change. before, they would process your biggest purchase first, that eats up the money in your account. and then, all of the subsequent small purchases, when you don't have the money there, ultimately costs you money. now, they're going to say they're going to process your transactions in the order they come. that u

that drew goldman and jpmorgan. i'll update you when trading begins. the price target moved higher by $1 to $17. they raised their fiscal 2010 revenue target to $52 billion. hercules offshore selling off with the premarket. downgraded. celgene is up after a meeting with management there. the target 65. the firm believing the company is on track. and xilinx raised the revenue outlook for the second quarter. the shares are up 7%. that's big for that stock on the cusp of a 52-week high. nymex? >> oil prices up 50% for 2009. mark told you that the reason why, of course, stocks and the dollar. and that is a lot of the volatility we've seen this week as well for oil prices. it's been a bit of a roller coaster ride this week. today we're looking at oil prices slightly lower ahead of the u.s. inventory report. keep in mind we are trading right now the november contract. that is the stock month contract. it has been the dollar that has been largely responsible for the roller coaster ride of the week. the dollar falling yesterday to the lowest level against the

beginning next year, jpmorgan chase will also allow customers to opt out of overdraft coverage and eliminateome fees. >>> well, despite the worst economic downturn since the great depression, most chief executives didn't take a pay cut last year. a new study finds ceo pay was essentially flat, ticking down just slightly. at the same time, the du jones plunged more than 37%. the study's authors said the board of correct directors didn't blame ceos for the bad economy. >>> many stores say they will higher fewer workers than last year. 25 of the nation's biggest retailers, including best buy, and saks, say they will cut back their seasonal hires. >>> general motors is a bit more optimistic. the automaker is recalling 2,500 laidoff workers as it adds third shifts at midwest factories. and 600 workers will be brought back to parts factories the automaker is expecting sales to increase next year. and has to restock its depleted inventory, which was at a record low at the end of august. >>> the beatles are still breaking records. more than 2.25 million copies of the beatles remastered albums were s

ual, us airways, upgrade at jpmorgan. the only down note i have for you this morning comes by way of monsantos. they see it at the low end. earnings below the street view. let's get up to bertha coombs at the nasdaq. >> we've got yahoo! really going to be one of the engines today that's going to move tech higher here on the nasdaq. up 3 1/2% as bank of america, merrill lynch upgrades the stock from buy to hold. it bottomed, they think. they think their search has been going better. their user traffic, better than expected. of course, carol barts just on "squawk box" this morning. eighth most powerful woman on the forbes list. meantime, a frveks asml saying it might actually now post a profit in its third quarter, although they say you really need more economic traction to see sustainability. apple is bouncing back after yesterday on the news they were going to have cheaper ipods. smith & wesson up on its earnings. getting a nice boost on the back of beating on its earnings. watch biotech vivus is still gaining. they had p

also, let's not lose the revenue contribution that names like morgan stanley, goldman sachs, and jpmorgan are going to get participating in these deals. that space is consolidated. these are the three leading players right now. >> our time is winding down so, it is time now for the "final trade." governator, kick it off for us. >> ge. i think with this administration they're poised to make a lot of money on green jobs, on alternative energy. i'm going to say ge going forward. people got too focused on ge capital. >> guy. >> i think rimm will print 65. i think you own it there. >> karen. >> target. i'd be long. >> joe. >> abbott labs looks to be breaking out. >> all right. i'm melissa lee. thanks so much for watching. annouto get out of asks,those tubs? time man: when we want. man: when we're in the mood. woman: it's our choice. announcer: today, guys with erectile dysfunction can be ready with another dosing option from cialis. cialis for daily use is a clinically proven low-dose tablet you take every day, so you can be ready anytime the moment is right. so relax and take your time. man:

but perhaps to ring avoid more no carrier ring regulations, bank of america and no carrier ring jpmorganchase overhauled their overdraft ring policies. both no carrier banks will now ask customers if they want overdraft protection. bank of america won't charge a fee when an ring account is no carrier less than $10 overdrawn. at chase, > it's $5 ring or no carrier less. bank of america will ring cap the number of no carri overdraft fees at four per day. no carrier chase at three. >> it was really ring no carrier up to the customer to know what ring their no carrier balance is and how much they ring have to spend. >> reporter: yet banks cannot no carrier ignore customer complaints. now that they're no carrier > online. ben tracy, cbs no carrier ring no carrier news los ring angeles. >>> massachusetts governor no carrier ring no carrier deval patrick ring no carrier ring names a temporary replacement for ted kennedy today. yesterday no carri the > legislature ring voted to let no carrier patrick pick ring a figure in. no c the ring no carrier replacement will be a key to health rooe care re

so if they were unable to pay their bills it was going to impact citigroup, jpmorgan and other major banks. so too big to fail was one issue and, of course, unemployment because as it touched the rest of wall street, we had job cuts. and that is also a lafth impact we continue to see that. >> what has led to the turnaround we've been seeing in the last couple of months? >> first off, the federal reserve has put very important programs in place, stimulus programs, making it easier for the major banks to lend money. that has certainly put more credit into the system. some would say not enough because there are some smaller and mid cap companies that do not have access to credit. so we need to see more of that. but that was certainly one major thing the federal reserve stimulus plans. secondly, the stock market has been rising because investors are viewing the situation as we pass the panic mode. we are out of that moment in time, one year ago when lehman failed, when all bets were on the table. anybody could have gone down. we didn't really know what was going to happen next. we got th