jpmorgan chase met expectatioio but the revenues fell short. i will be talking to the company's ceo jamie dienl coming up in the program. the markets got off to a a sizzling start on the new year. by tuesday the dow reached a five-month high h and it contind up later in the week. by thursday the s&p 500 had the best beginning of the year since 2006, mostly onasing worries in europe. the markets fell on friday. retail sales barely rose in deps up 1/10th of a% and less than expected. the disappointing december number was due to heavy discounting in the holiday season.. the federal reserve say if the economy continueses to improve the beige book, the study of regional ecoconomies showed moderate growth which has been improvingable isly in the manufacturing sector don't worry you w will be able buy twinkies andd wonder bread. hostess brands is declaring bankruptcy. they will contntinue to operate normally during chapter 11 proceedings. roger ferguson is the former vice chairman of the federal reserve and current ceo of tiaa-cref, leading retire tem

jpmorgan, scott, what are you doing? >> i was listening to fred earlier and i like what he has to say. but i think jpmorgan is like the prettiest girl at the dance getting ignored. i think earlier this year everybody wanted to be in citi and bank of america because they were looking for super. jpmorgan is not going to participate as much to the upside. so i can sell the february 37, 38 call spread. about 40 cents right now on the close could have sold for about 50 cents. that's selling the 37 call at about 35 cents and capping your risk by paying 55 cents for the 38 call. we're risking 60 cents. this is essentially a coin flip. i'm okay with the payout odds. it has to get to 30 drents for me to lose that full amount. >> yes. thanks for that trade. catch for "options action" every friday at 5:00. more "fast money" coming up next. >>> welcome back to "fast money." investors are gearing up for the facebook ipo. documents could be filed wednesday. we've seen a run in other social media stocks. renren up 40%. can this rally o

here it is -- "citigroup replaces jpmorgan as white house chief of staff." behind that headline is a tangled web. the new chief of staff is jack lew. he used to work for the giant banking conglomerate citigroup. his predecessor as chief of staff is bill daley, who used to work at the giant banking conglomerate jpmorgan chase. daley was maestro of the bank's global lobbying and the chief liaison to the white house. bill daley replaced obama's first chief of staff, rahm emanuel, who once worked for a wall street firm where he was paid a reported $18.5 million in less than three years. the new chief of staff, jack lew, comes from obama's office of management and budget, where he replaced peter orszag, who now works as vice chairman for global banking at the giant conglomerate citigroup. still following me? it's startling the number of high-ranking obama officials who have spun through the revolving door between the white house and the sacred halls of investment banking. but remember, it was bush and cheney's cronies in big business who helped walk us right into

the interesting thing is jpmorgan chase is the first major bank to report. next week we'll haerl from wells fargo, goldman sachs, bank of america. jpmorgan usually sets the tone. may not bode very well for next week. >> that's not good. you told us good news. now you told us bad news. that's not fair. >> even it out. >> all right. >> ball. >> we need ball. thank you. >>> northeastern ohio has been rocked by an unusual series of earthquakes. 11 since last march. now finding the cause of the quakes may hurt jobs. >> all officials are rushing to find out anything we can do to provide jobs for this area. we've lost 50,000 jobs in a three-year period. people are desperate. we have to do it in a safe, environmental way. >> the possible manmade cause for those earthquakes coming up. >>> and tim tebow's fans say he made two big connections in sunday's game. one for the winning score and one for the big guy upstairs. we'll talk about that in 20 minutes. osteo bi-flex has reald my knees. osteo bi-flex has been incredible for me, and i swear by it. [ male announcer ] o

take somebody like jamie dimon who is ceo of jpmorgan chase who was a big fan of the president and who is no longer who is questioning the cumulative affect of new government regulation over the financial sector. he's obviously operating an com bank. how do you interact with him? this is what we're trying to protect and we can work together or against you. >> i've had conversations with jamie dimon it's part of my job to reach out for input from all sides. it's not an easy thing to run a large bank of tens of thousands of employees in a lot of different markets as you just described. at the same time, businesses need to understand that they need to treat their customers fairly and they need to treat them on a sustainable basis and that's something that's important to get across. i think most of the leaders of our businesses are sympathetic to that. they understand that. they want to be responsible businesses. they intend to be law abiding businesses and that's something we will work with them on. >> what specifically are you going in there saying that you need to address? or that you'r

alocoa, jpmorgan chase and bank of america led the dow. alocoa was the driver. november's construction spending surged to the highest in nearly 18 months. also overseas, germany reported last year's unemployment average was the lowest in two decades. in china's slowdown it may be over. gold reversed this year. and oil surged to almost $103 a barrel. coal-related stocks jump on last friday's court ruling delays new air pollution regulations. chesapeake energy rose after selling part of its business to french oil giant total for $2.3 billion. devon jumped. metro pcs and leap were down on speculation. bad news for kaf foon lovers. starbucks raised prices in the north and southeast. finally, after a lengthy legal battle a judge ruled an african of my american church is the rightful owner of a building red neck memorabilia. >>> top ranked battles in college hoops and down to the wire nba action. plus, the replay sook center stage at sugar bowl with michigan state and virginia state holding on after a ruling on this play. >>> the cold air is heading out and a warm-up

let me just say nbc universal is one of the sponsors of the jpmorgan tournament of champions.ent runs this thursday, january 26th, at grand central terminal. >> thank you, sweet heart. >> put on your short shorts. richard simmons stops by. >> and monica potter. -- captions by vitac -- www.vitac.com >> steve: from studio 6b in rockefeller center, the national broadcasting company presents -- tonight's guests are -- and featuring the legendary roots crew. and here he is -- jimmy fallon! [ cheers and applause ] captions paid for by nbc-universal television -- captions by vitac -- www.vitac.com ♪ [ cheers and applause ]

international game technology confirms -- today, traders will watch early for the first big banker jpmorgan chase. bed bath & beyond are recalling metal tissue holders sold in more than 20 states contaminated with low levels of. >>> upset in college hoops. what is supposed to be a rosy year for the new york knicks keep getting dining room and dining room. your "early" morning sports headlines are straight ahead. >>> now that winter has arrived we are waiting on more lake-effect snows. your forecast is coming up. you're watching "early today." >>> vegetable morning to you. if you're just waking up, this is "early today" pr ." here is fred roggin with a look at your sports headlines. >>> the nhl all-star game rosters released yesterday and the stars were shining brightly last night. the game will be held in ottawa at the end of the month. last night the senators in new york. spezza had a pair of goals against the rangers. the all stars got it done and beat the rangers 3-0. the bruins tim thomas will play in his second all-star game. bruins took the lead in a wild play in the first. kerry pric

. >>> investors on wall street are anxious to hear the earnings report from jpmorgan chase this morning. it's the first of the big banks to announce fourth quarter results. stocks finished higher on thursday. the dow added 21 points and the nasdaq gained nearly 14. >>> newly released documents show a federal reserve officials did not see the collapse of the housing market coming. transcript from 2006 meetings reveal that chairman ben bernanke and other fed officials, including treasury secretary timothy geithner failed to recognize the risk of falling home prices. the collapse of the housing market a year later helped trigger the great recession. >>> applications for unemployment benefits rose last week to their highest level in six weeks. the spike can be attributed to the loss of thousands of seasonal jobs. but there is encouraging news. home depot is planning to hire 70,000 seasonal workers beginning in the spring. >>> the failed solar panel maker solyndra wants to give its workers bonuses. the company is asking a judge to approve $500,000 to give to up to 21 employees. solyndra says

. >>> jpmorgan chase's net profits also fell by 23% on the back of european debt woes. meanwhile, domestically focused wells fargo saw it fourth quarter profits surge 20% to over $4 billion. that's as housing loans grew. >>> the european union has begun legal procedures to urge hungary to review a new central bank law. the country's finances are worsening due to the european debt crisis. the hungarian parliament appr e approved a law last month that allows the government to appoint the vice president of the central bank. the legislation is part of prime minister viktor orban's reforms aimed at strengthening his government's grip on power. the european commission said on tuesday that the law violating eu regulations designed to protect the independence of central banks. the eu will take the case to europe's highest court. the european court of justice, if the hungarian government fails to comply. jose manuel barroso said the quicker the argument is resolved the better. >> we hoped that hungarian authorities will make the changes necessary to gain the respect. this has no

reports failed to impress investors for the first time since 2007 for jpmorgan chase and france announced its standard & poor's credit rating is downgraded to aa status. >>> a state senator from the bay area is taking aim at pay raises for top administrators at uc and cal state schools. senator leland yee of san francisco is introducing a bill today to prohibit raises within two years of a tuition hike or two years of a school not receiving a budget increase. executives couldn't get salaries more than 5% above their immediate predecessor. >>> the efforts of republican presidential hopefuls campaigning in the palmetto state may be paying off this time. a new poll shows front-runner mitt romney's lead with south carolina voters is shrinking. newt gingrich now trails the former bay state governor by less than 2 points. gingrich has been airing attack ads against romney, other candidates have tried to appeal to social conservatives. they will be holding a meeting in texas this week to decide on an alternative to romney. >>> well, he is an author, comedian and he just might be a presidential c

jpmorgan downgrading it from overweight to neutral, disappointing earnings not for two quarters, not for two months but two years. the prying target down from 62 to 48. then nike up 1.5%, touching another all-time high today, finally staples down 4.75%ful now a sell at goldman sachs. bill, back to you. >> thank you, brian. >>> stocks rebounding as we head into the close here. in today's closing bell exchange, senior economics reporter steve liesman is in philadelphia, mysteriously and mandy drury is back at headquarters as well. steve, we have had new data on the state of borrowing and lending and all, looked rather encouraging, didn't it? >> i think the market play is got an small pop from that bill, the market already on the way up, 2:00 we reported those results from the fed's january senior loan officer survey showing demand rising for commercial and industrial loans and one headline that caught attention, demand from small businesses was the highest since 2005. even had demand for all consumer lopes turned positive for the first time since '05. good stuff there, something we hav

jpmorgan earnings in line but business continues to be tough in banking.utures now are pointing to a flat open, the dow will be coming off after 21-point gain yesterday to 12,471. while the nasdaq was up 13 to 2724. and if you were curious, wall street does not suffer from fear of friday the 13th, which is actually friggatriskaidekaphobia. not easy for me to say. historically stocks end friday 13th higher. the s.e.c. is going to look at whether it's time to dump rules requiring cable and satellite providers to block out sporting events if teams don't sell out. a coalition of groups say the rules should be dropped because they prevent fans from accessing local games especially with ticket prices and unemployment levels so high. the nfl and other major sport leagues generally oppose lifting blackout rules. target planning to test apple stores next year. a spokesperson didn't say how apple products will be displayed or whether there will be apple employees to help customers learn about the products. apple has stores inside best buy but expanding its presence

this week, bank of america, jpmorgan chase, wells fargo, citibank and allied financial agreed to a $25 billion sett settleme settlement. one of the largest in u.s. history. >>> and indiana is a step closer to becoming the first right to work state in more than a decade. the state house of representatives approved a bill aimed at limiting the power of labor unions in the workplace. the bill is expected to pass the senate and be signed into law by governor mitch daniels. indiana would become the 23rd right to work state. making some changes in my home state of indiana. >> yeah. back home for you. ashley morrison here in new york. thank you, ashley. >>> coming up on the morning news, thousands pay tribute to coach joe paterno ahead of today's memorial. plus, gabrielle giffords returns to congress to say farewell. you're watching the "cbs morning news." osec otc have asked yours truly to teach you about treating frequent heartburn. 'cause i know a thing or two about eatin'. if you're one of those folks who gets heartburn and then treats day after day... well that's like checking on your bu

jpmorgan, the largest american bank by assets, said it earned $3.7 million, or 90 cents a share in the final months of 2011, but the results were down 23% from the same time a year ago. shares in german software giant s.a.p. were the leading gainers on friday after the firm reported gains in both sales and profits for the fourth quarter of last year. operating profit at the world's largest maker of business software jumped by 10% to 1.78 billion euros for the quarter, exceeding expectations. operating profit for the whole year increased to nearly 5 billion euros. the company is expected to announce its forecast for this year on january 25. >> the problems are not stopping for the german president. christian wulff has yielded to a week of pressure to publish a da's year of answers to questions by journalists about a controversial hormone -- published a dossier. the newspaper that broke the story is making new allegations the president is used government frequent-flier miles. >> germany's president has once again made headlines in the tabloid that broke his controversial private loan sca

. >>> another major financial institution, jpmorgan chase said last week it had cut compensation for people in its investment banking section by 9%. this would make payment per employee at about $340,000. >>> high compensation at financial institutions was criticized by anti-wall street protesters last year. this also pressured banks to take these steps. . >>> tokyo share prices are rising this thursday morning following an overnight gain in new york. the nikkei index now stands higher by over 100 points at 8,653. that is a gain of 1 1/5 of a percent. the broader topix is also trading higher. sources say that buy orders are being placed on export-related issues. the move follows the overnight release of good data on u.s. housing. news that the international monetary fund may increase its lending funds is also boosting market sentiment. and in the currency market, the euro is up slightly against the dollar and the yen as participants are buying back the common currency. the euro against the dollar currently trading at 1.2857-2858. the euro against the yen is currently at 98.65-70. mea

goldman sachs, jpmorgan. i hope ron paul points this out in the debate. host: texas, independent line. good morning. caller: the way things have been swinging, first you have the pete's a guy up there first and then he leaves. they have gingrich and perry and romney. you never know how things will swing. jon huntsman, i would call him a moderate republican. he is probably easier to put up against obama in the election. host: what do you think him dropping out means for the rest of the field? caller: i don't know. i think perry ought to drop out. for a long time, he has been our governor. he can count all the jobs he has made, our unemployment has doubled. i think it is because of more people moving into the state, though. host: let's look at a couple of other stores in the news. this is the day to celebrate martin luther king, jr., the federal holiday. "washington post" with president obama and one of his daughters at the martin luther king, jr. memorial. here is what the piece says, for the first time in our country's history, the mall is more diversifie

jpmorgan has begun proseerdings on the former football stars home. he's currently in prison on robbery and kidnapping charges. he bought the home for $575,000. it is currently worth $478,000. so, betty, it's not just a conversation piece. it's a bargain. >> yeah. and as our producer said, o.j. is under water. >>> coming up on the morning news, problems for the peace corps in honduras. >>> plus, fueling up. an alaskan town is finally getting some much needed fuel and gas. you're watching "cbs morning news." >> announcer: "moneywatch" sponsored by the vagisil screening kit. now you can know. by the vagisil. now you can know. [ female announcer ] fashion or food, it's all about taste. and the chefs at lean cuisine are loving tangy lemon, peppery poblano, sweet butternut. we're roasting, and grilling to create must-have meals with no preservatives. lean cuisine. be culinary chic. to ci had[ designer ]eeling enough of just covering ups. my moderate to severe plaque psoriasis. i decided enough is enough. ♪ [ spa lady ] i started enbrel. it's clinically pro

that's after jpmorgan reported a 23% drop in the profit for the fourth quarter compared to a year ago disa pointing. >>> oil futures back down below $100 a barrel right now. political tensions between iran and the united states still running high. iran has been threatening to shut down the strait of hormuz. right now crude trading at $99.24 a barrel. soledad? >> christine, thank you very much. be sure to follow us on twitter this morning. i was at soledad underscore o'brien. anita baker sent me a note about steven could he bare. he can't do that. thank you for your tweet. also getting a lot of feedback on jody cantore interview. some people loved it, some people not so much. >>> ahead this morning we'll tell you about this ad. have you seen this ad about the dog? will and i were talking about this earlier. take a look at the mitt romney dog ad. >> we love the dog. we had five kids inside the car. my guess is he liked it better in his kennel than he would have liked it inside. >> who let the dogs out? who? who? >> i'm trying figure out dnc ad. this is from the dnc? no, newt gingrich. a

jpmorgan chase foreclosed on his miami home.bought this house for more than $500,000 back in 2000. he is serving time in a nevada armed for kidnapping and robbery. >> the bachelor is on tonight in abc primetime. goes to new heights for a date. >> if we can climb to the top of the bay bridge together, there far we canng how take this relationship. very nice. >> all rights. this is ridiculous. >> wow. c.e. was sent home tonight. -- see who was sent home tonight. problematic date right there. we are happy to say that we have almost reached our goal in our the washington humane society. >> for the first new 3000 fans and followers, we donating $1 for each fall over to the washington humane society. we're almost there. we're almost at 6:00, says let's coming up. >> maureen bunyan is here. >> politics and more politics, of course. the there were five, one of president is out. what that is going to mean ticking toward the south carolina primary. a major hiring effort under way in maryland. >> we will see when a few minutes. >> we start

part that's because while segments of the private sector are hiring, amazon, td bank, chrysler and jpmorgan chase among those adding jobs, government jobs continue to dry up. >> we are seeing state and local cuts of teachers, policemen and firemen. we are now going to see in 2012 the military really begin to see lots of job cutting. >> reporter: and so while companies like dollar general are building new stores and stoking enthusiasm, boeing this week announced plans to close a plant in kansas that's built airplanes since 1929. >> this is a very sad day for wichita. >> reporter: a victim of military spending cuts. >> nobody is ready to sound the all clear until they can come out of the bunker, look in the sky and make sure there are no more airplanes dropping bombs. >> reporter: there is one more key number economists will be watching. tomorrow morning the government's report on unemployment and job growth comes out. it is expected to show, even if unemployment ticks up a little, that manufacturers have added jobs for two consecutive years. the peak was in 1979. it's been a long time coming

anthony chan is here from jpmorgan.e were talking earlier about how the gdp is at a level of 2.8, but the bulk comprised of inventory growth. do you think that the gdp will deteriorate from here and do you think it will pull this market down? >> i think as you go into the first quarter, because of all those inventories, you are going to get a much lower number. i think that the overall headline number in the first quarter will probably have a low 2% handle, as opposed to this number that was very close to 3%. >> do you think that will pull the market down? >> that's a long time from now. we still have a few more numbers to come out of revision. that's a long time for the market. >> anthony, have a great weekend. thank you for joining us. our own mary thompson will now count us out on the session. interesting at the end to be circling around the flat line. >> i was speaking to traders before i came down there, and they said the end of january tends to be seasonably strong. they say there's been some bad stock thrown at t

on friday jpmorgan chase is the first of big financials to report. they are the earnings are expected to be 17% lower than the same quarter last year. china, we have trade surplus numbers coming out on tuesday. the country's sin want news says it the surplus will be down. looking ahead to thursday. well, china releases its december inflation data. the cpi. you knew that is expected to come in at around 4%. if true, that would be its slowest rate of inflation in 15 months. looking ahead to the second half of the program we have an interview with imf chief in the face of a falling euro, she is confident the currency will stay afloat. >> i have no doubt in my mind that the euro partners be determined to keep it alive and to keep it solid. with a different architecture than two or three years ago. >> and there's much more of that. cnn's robin ker now has that later in the show. >>> thanks very much for that. nina? >>> drew, it's try to focus on some of the other top business stories. u.s. treasury secretary timothy geithner is in asia this week. part of