jpmorgan reported very nicely. we like jpmorgan. like wells fargo.nology stocks, the big leaders. even the defensive names. the financials. the utility names that haven't performed. we like the industrials. i find more stocks that i like than i dislike right now, which is another reason why we want to be adding to equities. liz: when friends and family come to you and say, i'm a little nervous. here's why. the march jobs report was not pretty at all. there are headlines. global headlines that gyrate the markets on occasion. the so-called exogenous events. what do you say to those people? >> we're in april now. it's spring. you're looking at the rearview mirror with march. you'll see a bounceback with the economy. obviously a weak first quarter. that's why you're on the sidelines. that's behind us. earnings estimates are way down. at this point -- three months ago, the s&p estimates were plus 12. today, they're minus two for this quarter. so there's a lot of negativity built into the numbers. we think the bar is pretty low. we think a lot of the other

beneath the headline data with jpmorgan. america is divorced from reality , the cost of attending olivia sterns eight wedding. it is tuesday, april 14. i'm tom keene. brendan greeley is off. eight weddings or nine weights? brendan:olivia: i want to 13 weddings last year. marco rubio says it's time for his generation to lead america during he held a rally in my auntie to say he is running for president. he is just 43 years old. he did not target any of his republicans. he went after hillary clinton. >> a leader from yesterday began a campaign for president by promising to take us back to yesterday. yesterday is over. olivia: clinton makes her campaign debut in iowa today. by traveling by van she stopped to eat at eight to pulling and was not reckoned ties. john kerry will try today with the senate. kerry said he had hopes he could clear up misconceptions. >> it's good to be able to discuss with people what is really contained within the parameters and also to lay down some of the work that we have left to do. we have two and

number five is jpmorgan, the biggest u.s.irst quarter profit climbed 12% on rising revenue from fixed income trade. joining us now for more is michael holland. the chairman of holland and company. he owns jpmorgan. what did you think of the results? michael: excellent number. not a particularly enthusiastic market today. it will be one of the highest traders. the backdrop for producing this kind of result, throughout the business -- all the businesses got rid of their fixed commodity trading. these are great numbers. jamie dimon and his team continued to produce the great numbers. huge expenses making this a stock so cheap. it is trading at a discount to the big banks. betty: the other banks have the same legal problems. they have the same regulatory problems. why is jpmorgan traded at such a discount vis-a-vis its peers? michael: it doesn't make any sense, you should buy this stock. which is why i own the stock. it is ridiculously cheap, less than 12 times earnings. it has nearly a 3%, paying a 44% dividend now, a 3% yield.

jpmorgan anna -- and wells fargo beat analyst estimates. jpmorgan rose 12%.oost from trading. that's the first time that's happened since 2010. wells fargo got a boost as interest rates spurred more home by the -- buying. what can we expect? let's ask david trone. also here is allison williams. specifically as it concerns trading, you think jpmorgan's numbers and a glimmer of hope that we will see the same thing from city and morgan stanley? guest: we started out for a strong. i think march was a little bit weaker. we did have bullish expectations. we raised our numbers. we could not be our trading -- trading forecast. stephanie: is it because volatility is back? we are seeing so many ipos. that spurs business. guest: you had them both. investment banking was very strong as well. we have primary activity, make no mistake about it, the fixed income trading was helped by the fed changing language. it has people rethinking their positions. the specter of the fed rating rates -- raising rates has been out there forever. they have expected it for so long and it ha

what we saw from jpmorgan, may be even tougher. scale matters and jpmorgan has it.y were able to offset some interest margin pressure by bringing expenses down. i think that puts where i'm looking for the rest of earning see if you have a lot of capital markets and big banks that has scale, you should do pretty well. looking for citigroup and bank of america tomorrow will be interesting because there are more traditional bank centric. the part of the business that is suffering is a bigger business for them. it is still, nonetheless, a good earning season for the big banks there. >> when wells fargo reported and it was the difficulty in interest margins, you saw a lot of the regional banks come off. in terms of your expectations from bank of america or pnc or the banks that have the more traditional bank lending businesses more exposed to that area. you said bank of america is going to be interesting. what does that mean? does it mean it will be lumpy with this part of the business? >> bank of america, almost half their revenues come from that interest income. more o

jpmorgan has racked up more than $36 billion in legal bills.ring computers and to help patch and stop these problems before they happen. minority report style. ♪ matt: this is "in the loop." jpmorgan is the biggest bank on wall street by assets and also has the biggest legal bills since the recession. $36 billion is how much it has paid out for his legal woes. now, it's looking to stop this blood loss by bringing in machines to help prevent rigging and rogue traders. will machines be enough to curb stray employees? a new algorithm that companies come up with. what is the story? >> companies have tons and tons of data. everything from your e-mail to your chats to whether or not you do your compliance classes. before today they did not have a way to look at everything holistically. there is a ton of data. you have no way of figuring out whether or not a specific trade will be a problem for you. this correlates all that data creates a profile of you and can possibly tell in advance whether or not you're going to be a problem for them. matt: they'v

first off, tomorrow jpmorgan and wells fargo. jpmorgan on average not a great day. down about a third of a percent. it's only positive trading wise the day after its earnings report comes out 38% of the time. if you look at wells fargo, it's down 0. 6% positive just 38% of the time. if we fast forward to later on this week, bank of america, that's one of the bigger losers here. it's only positive less than one-third of the time. goldman sachs and citi round out our week. goldman sachs down 0.2% on average. positive 38% of the time. you can call it the real outperformer here is citigroup which trades flat. it's a coin toss positive about 52% of the time. they all report before the bell. the regular trading session generally speaking since the zero interest rate policy began after the financial crisis these banks have not been at least a positive trade generally speaking in that time since 2010 guys. back over to you. >> as you were reeling each of those off, i checked them quickly. all but goldman is fractionally higher today going into these reports. thanks apprecia

with respect to jpmorgan, they're one of the strongest financials out there. a great proxy for the overall economy. facebook and linkedin are social media giants. people love to be social and share. that is a great place to be. david: john trainer, general electric had a field day, when it decided it would pull out of the banking business, a lot of stock buybacks. the stock was way up. today it has come down a little bit. i'm wondering is it a buy now, hold on a second, we have the launch coming up. here it goes. this is the spacex liftoff. >> liftoff of the falcon -- david: what is extraordinary about the launch, not only what they are going to do but how they are hoping to retrieve the missile that launched capsule up into space. they will retrieve it a extraordinary way, liz. liz: in fact there is a floating platform out on the water. they're going to attempt to once the delivery is made, to capture that rocket back on that platform. one in a million shot here. the first effort failed, but hey the wright brothers failed over and over again. this is the sixt

the obama administration hit jpmorgan with a lot of fines.t jamie says is we're not going to be a good corporate citizen next time, and that's going to make this crisis potentially worse than the last crisis. you have to almost translate this. that's what i did. i read the letter, i went back and sawa interesting parts. what are we talking about? that will put you to sleep, right? liz: i almost fell asleep. >> just telling you. that seemingly innocuous sleep inducing paragraph is key to understanding what he means when the next crisis is worse than 08. liz: charlie gasparino. closing bell 26 1/2 minute away. do you want to meet the man beating warren buffett, not just now? over 15 years. he's managed to outperform the oracle of omaha. >>> and which stocks is he investing in right now? we will introduce you to him. we will find out how he picks his names and which names he likes. >>> in start-up segment, a company shaking up the boring old paper products business with the help of retail giant target and a famous name in the food world. >>> a l

before the opening bell rings tomorrow we'll hear from jpmorgan. the financials had a rough start to the year the second worst performer behind utilities. and while most strategists aren't expecting much from earnings season they say the news won't be all bad. especially when it comes to the banks. dominick chiao takes a look at what to expect and why this group is so important to investors. >> there's a reason why so many investors care about what happens in the financial sector that sector is the second most heavily weighted one in the entire large cap s&p 500 index. financials are expected to be a bright spot with the highest anticipated earnings growth of any sector out there. >> there are a number of things working in their favor. >> the key tail for financials is really rates. and the expected rising of rate environment. if you look historically at the last four rate hike cycles. financials outperformed the overall market. that makes sense. a particular insurer should benefit from a rising rate enenvironment. >> a host of big cap names will r

jpmorgan will do well.ls fargo, though that you think will underperform, but also bank of america. why is that? >> bank of america has been in a tough spot. that's been a thesis for investors who wanted absolute reduction expenses but also as an interest rate play. the fed has been slow to move on the short end of the curve. bank of america is more susceptible, because half their sensitivities are on the long end. the other thing with bank of america this quarter, there's a couple unique aspects to them that they'll get hit on mark to market adjustments, as well as option expenses in the first quarter. >> whoos best positioned david to take advantage of the resurgence in deal activity that we have seen in the first quarter? >> the answer there is goldman sachs. we're expecting revenues in m & a from goldman sachs to be north of $800 million. the number two players is morgan stanley. they're almost double the number two competitor. >> yeah i guess the bigger issue is as of friday from general electric, david

jpmorgan has been a student that became a d+ student.hey're getting better -- became a b plus student. the highest quality banks are still jpmorgan and goldman sachs. of the problem kids, morgan stanley has moved up the most. erik: most improved. stephanie: where is citibank? mike: citigroup was a d-student moving up to the b minus range. the difference between morgan stanley, citigroup and bank of america is that morgan stanley and citigroup have publicly disclosed targets that the world can hold them accountable to. inc. america does not have one publicly disclosed target that investors can hold them accountable to. that was the root cause of the financial crisis. management's not being held accountable. the fact that we still have that condition persist eight years after the financial crisis is wrong. erik: before we beat up on bank of america citigroup for a moment and back to the conversation about trading. people used to accuse morgan stanley of having an insignificant fixed income business because of the choice gorman made to down

. >> and from netflix to the big banks, jpmorgan kicking off bank earnings tuesday before the bell, along with wells fargo. bank of america reporting wednesday, citi on thursday. beakers. >> so, i have been negative on the banks or actually neutral on the banks. really, the hypothesis is they're too big to succeed, they're utilities at this time and should trade one times book, and that's basically where they're trading at this point in time. unless you see some massive steepening of the yield curve, which i don't think you're going to get, then to me, the banks are a no-touch. we'll see what happens. perhaps some of the legal costs are getting out of the way, but it seems like every quarter you have something else that pops up that does not allow these banks to operate the way they should. so, for me, banks are just a complete no-touch here. >> tim? >> well, you know, so, taking some of the things brian's saying, i would prefer to do more relative value within these guys. i think jpmorgan is best of breed, but i don't think they have as much operational leverage to a recovery, so i'd rat

you're going to take the lead from jpmorgan. if trading activity is good, that's a sign you're going to buy the rest of the space. they're all overbought at this point, i would back away as well. >> josh brown, what do you make the comments and what do we do here? how are you going to get a huge bulk of earnings coming down this week, then it really gets interesting. >> where to begin, well, first of all, let's put the down earnings into context. if you back out energy, it's not down earnings. number two, resistance, the most important technical thing you need to look at right now. what all the technicians are talking about is the new york stock exchange, stocks only advance decline line, exploding through to new all-time highs. that's the headline. forget everything else, when you have expanding leadership and more stocks breaking out to new highs, you're going to get the index price follow. it happens every time, it's happening right now. the other thing to keep in mind, look at leadership, up 8.74%, year to date. russell 1,00

versus jpmorgan 10.5 times earnings.are and how they achieved growth going forward since they are both pretty disposed. i prefer jpmorgan over wells fargo. >> which of these do you prefer? which looks better on the stock charts? >> the higher multiple is going towards a more rowy looking chart. if you look at how well they performed post the past two earnings you will see a 5 to $7 drop in the earnings and now we are reporting again. we noticed we are at the blue up trent support. a couple things could happen. another drop in earnings which would push the stock lower and expect them to scoop them back up like in the past. or if earnings move or beat from the support and you see it lift all financials and from a relative strength point of view they look more poised to the upside. >> technical you say wfc look burden. appreciate that. we do two online segments every day in trading nation. when you have a chance and you areally at a computer go to trading nation or you can access the internet from a telephone. >> you just h

another name in the news today, jpmorgan gets an upgrade but one of our traders isn't buying it.e're back after this. sometimes romantic. there were tears in my eyes. and tears in my eyes. and so many little things that we learned were really the biggest things. through it all, we saved and had a retirement plan. and someone who listened and helped us along the way. because we always knew that someday the future would be the present. every someday needs a plan. talk with us about your retirement today. it begins from the second the pursuiwe're born.ier. after all, healthier doesn't happen all by itself. it needs to be earned... every day... using wellness to keep away illness... and believing that a single life can be made better by millions of others. healthier takes somebody who can power modern health care... by connecting every single part of it. for as the world keeps on searching for healthier... we're here to make healthier happen. optum. healthier is here. >>> we're back with balyasny asset manager christian zann. i want to get to your picks of people that want to hear fr

you can see jpmorgan up 1.7% right now. this comes after strong fixed income trading was reported and also revenue up 4%. we're seeing traders look at retail sales for march. those came in first time in three months. we saw a gain of .9%. a slight miss of the 1% street was looking for. people buying cars. 2.7% spike in cars and automobiles. you saw more people buying furniture but fewer people buying electronics. you can see how this would inform the fed decision potentially on when those rates may or may not go up. melissa? melissa: jo, thanks so much. a month-long standoff between white house and congress an iran comes to a ahead. 30 minutes a key senate debate to pass a bill that could would give congress a say on the any deal with iran. dakota miller and judy miller is back as well. dakota congress could seize upon a particular item and vote down the bill out of spite to kill what he is looking at of legacy trying to make a deal here. i think that is the concern. is it founded? >> i think it's a legitimate concern on hi

we already heard from jpmorgan that trading rose 5% for them versus last year.appointed with a drop of 7%. a lot of people are looking for goldman sachs to set the ship right. olivia: what is the outlook for legal fines? scarlet: we will look closely at the compensation ratio. goldman's best asset are the people. how much money does it put aside for compensation? right now, the most recent quarter, it put aside 44%. it has been steadily declining. the high water mark was in 2008. it has been steadily drifting lower. lloyd blank find has been firm about this idea that they will start cutting cost in this area. brendan: from somebody who did not spend the entire crisis following banks, it seems like goldman is the one eyed man in the land of the blind. what has it been doing righter than anyone else? scarlet: it stuck to trading. the investment bank changed into a asset management profile. it's extremely volatile, as we've seen. it can make or break a quarter. for goldman sachs, we will see whether the volatility we saw in january carried through. olivia: goldman

her income was up 40%, and jpmorgan of all of the way to 12%. another thing we will be looking for is how much cost-cutting they want to do. 2 billion is a member we saw in some of the analyst reports, and we will be looking at that number, as well, and manus, while i have been talking, maybe you have pulled it up on your screen. manus: yes let's look at it very briefly, and i know as that morning goes on, you will have more numbers. the target by 2020 is near double that number, 3.7 billion euros. where do those cost cuts come from? do they come from the operational side of the business? do they come from retrenching from the 70 countries they are present in? d consolidate from postbank. that is the other major headline coming in here, and as i said just a second ago, 3.5 billion by 2020. that is the target as we just mentioned, and 1.5 billion euros for growth, additional cost savings, as we said, this year, 1.2 billion, so they are going with about one third of these cost cuts this year, near 4 billion by 2020, and then the consolidating -- t

a good day for jpmorgan shareholders. profit climbed 12% in the first quarter, beating analyst estimates. an increase in trading revenue the first time since 2010. higher volatility helped drive the quarter. investment banking fees also saw a double-digit increase. good news for wells fargo. it beat analyst estimates thanks to lower interest rates. that encouraged more barbers to buy homes or refinance debt. wells fargo was the nation's largest home lender and most valuable u.s. tank. the imf says the stronger dollars helping japan and the euro area but taking some steam out of the u.s. recovery. the imf kept its prediction for global growth unchanged at 3.5%. the imf is depicting a role economy being shaped by swings and currency and the drop in oil prices. >> the price of oil has helped. this is leading us to have higher forecast for the eurozone. the main risk we saw last year was the risk of recession in the eurozone. that has not disappeared but is much smaller than it used to be. mark: retail sales in the u.s. rose

what i see here is different than jpmorgan.s, and bank of america said credit mortgages are down. that is a big tease of it. and return -- that is a big keys of it. and returns are half. olivia: i don't see a statement that says they are increasing the dividend, but you are seeing signs that the beat is up with american consumers. the first quarter earnings came in at $.36 per share. initially, we saw the stock at about a week 1.5% -- about a 1.5% pop. tom: bob nardelli what is looking like is that they will have to lay off a lot of people. how do you lay off 10,000 people? robert: the john's they have is they are going to have to add people. -- the challenge they have is they are going to have to add people. the quid pro quo here is that the government is forcing them to add and they have to figure out how to be lean and cost effective. you got to add people in certain areas and lean out in other areas. tom: when you noticed harper sit down and talk about the pull in 2015. are these guys excited about the future? are they hung

we begin with that warning from jpmorgan's ceo saying in his annual letter to shareholders, some thingser change, there will be another crisis and its impact if felt by the financial markets. going on to say no investors will be safe. a very provocative piece he's written on page 32 of the 38 page letter in terms of what's going to cause it. they're not going to guess at the potential cause but you can say geopolitical, commodity price collapse, bubbles, all the things we have a' been talking about lately. >> no doubt about it. why we try to pound the table when we see something like this in terms of volatility is we're underneath the 50-day, the 200-day for the volatility index and now today here we sit at around 14 or just below 14, that's when you want to buy. not when there's panic, not when we know of all the risks out there, but when the unknown is sitting somewhere out there and now you've got an opportunity to be able to protect your portfolio. buy it through put spreads. something that will protect your position depending on where your exposure levels are. is it in the nasdaq,

jpmorgan and wells fargo kicked things off along with johnson & johnson and intel. with you in just moments. right now, lisa abramowicz and carl riccadonna join me. and world equity strategist tina martin adams. we will talk about your outlook for the market. you think the rally. i want to talk about one reference, and not specifically the position that jana partners has taken against qualcomm, but the idea that activists are constantly having to look for larger and larger target. and because they only have so much money to put to work, the percentage of the stock that they are able to own of multibillion-dollar companies like qualcomm and that dean quite small. jana partners has $2 billion invested in qualcomm, but walk-on -- qualcomm has a market capability of $13 billion. will that change the market of activists cannot get done what they have been so successful at doing, which is getting ceo's endboards to capitulate? gina: it could, and i say that because activists have had a substantial part in driving share reduction dividend payment increases, share count dec

the scarlet letter, citigroup deserved it not jpmorgan. mindset does create the next financial crisis because banks think they're going to get bailed out in the future. and one other thing that's important is the notion that regulation is bad. and, you know, before he went into his shell when he had to deal with gazillions of dollars in fines, jamie was on the warpath saying dodd-frank was destroying the banking industry preventing us from are doing what's right, increasing our costs and costs to consumers. i would say what we're going to see now out of jamie dimon is a guy who's going to resume his mantle as the spokesman for responsible banking. which he always had been before that. stuart: it'll be nice to see that. >> i'm curious what his relationship is with the president now. you know, they were so close in the first term, and then -- stuart: were they? were they so close? >> oh, yeah, he was -- he went several times. >> well, they all go. let me just say this, his people told me they weren't as close as the popular wisdom was. >> oh

for jpmorgan it's coming down. for bank of america i see no improvement. >> legal cost 370 million this quarter. a year ago quarter 6 billion. that's down. >> it is going to continue. i wanted to see it over. i wanted to see, let me back up. i don't want the government involved that much with bank of america. i still feel the government is too much involved with bank of america. j.p. morgan know. wells no. >> the government is involved in all of these. >> to a degree. >> much more than 10 years ago for obvious rps. >> bank of america has to pay a big dividend. they have a lot of cap. they have to apply. this is a next year business. i saw what j.p. morgan did with the buck 76 and i said to myself wow, j.p. morgan is really starting to pay out. wells fargo is taking a bigger risk because they have no bad loans. i have better stories to tell. the big story of why you would tell bank of america is because one day if rates go higher and i'm talking about the short rates you got a big winner here. >> the first time in a

we caught up with jeff staley two years after he left jpmorgan.ighlights went "bottom line" continues in a moment. mark: it is time for today's latin america report. latin america's biggest building company is suspending new investments in brazil. ego says -- the ceo says a looming fiscal tightening and the reluctance to release loans for an oil rig supplier have led the company to put new investments on hold. the rialto rose to the highest level in eight weeks. there is speculation that the central bank will increase the benchmark rate to market policymakers have raised borrowing costs for four straight meetings to 12 .75%. that is your latin america report for this tuesday. stephanie ruhle and erik schatzker are at the milken conference in california. earlier erik spoke to jes staley former ceo of j.p. morgan investment bank. they began by discussing the unintended consequences of bank regulation. jes: perhaps the biggest response has been a virtual explosion in debt capital markets. the amount of corporate debt issued directly to mutual funds a

my comes from jpmorgan.ng in his annual letter to shareholders "some things never change. there will be another crisis and its impact will be felt by the financial markets." where is the next crisis coming from? adam: i don't know. he might be from us thinking of tom keene in a bikini somewhere. that is the crisis right now. one of the things we monitor carefully is the laundry list of things we call the top of the cycle. this will be a long expansion in the u.s. i'm looking at economic factors like consumer behavior corporate factors. i don't think it is that frothy right now. of course there will be a crisis someday. is it in my investment horizon? i don't think so. i think it will be farther out in the future. brendan: i've seen the corporate headquarter index before. how much stock do you take in indicators like that? adam: someone told me the size of the ceos photograph on their website -- i look more at capital spending and inventory. you want to make sure you are not impeding the margin progress. that

jpmorgan. made about $6 billion. not bad. stronger dollar. we all know that.their outlook. audio, quickly $53 a barrel right now. rising. let's move on. putin. russia pays the way to sell antiaircraft missiles to iran. attacking then becomes much more difficult. listen to this. israel has to attack iran before the missiles are delivered. general, if you are saying israel must now attack him i'm sorry, did i just call you -- i think i did. it is tom. i know that. israel now has to attack. that is a call for war? >> absolutely stuart. the israelis do not have the stealth that is required that the u.s. forces do. that will force them to make adc should because those nuclear sites are very difficult to attack anyhow, they will probably expect anywhere from 20-40% casualties of being de- striped. it would absolutely eliminate their capabilities. they now need to move before the s 300, and. the military option is off the table. we will not attack them. he said that. essentially, iran has a stock freehand. they can do what they like. they can cheat at will. this is a

jpmorgan's chief u.s.rning. >> i would have thought yesterday's statement was kind of a little bit old given we've had a poor payroll figure since then what happen are you telling clients? >> yeah, i think two things to keep in mind. one it is old, we've had some data since then that's been soft, most notably the payroll data. second i thought the reference that there were several participants who still wanted a july hike -- sorry, june hike that we also knew from the march it rate forecast there's a core of hawks who wanted june or something earlier. i didn't think we learned that much new. june, to me still seems unlikely unless we get blowout data between now and then. >> what does this mean for the markets. how sensitive do you think we are? with the signaling going on clearly nervousness, clear le they want to telegraph to be as dovish as they possibly company are we like a stretch elastic band waiting to ping as far as marks are concerned or will we take them in its stride. >> a dovish message over t

stocks up today on good earnings from jpmorgan chase. s&p companies are expected to report a 3% plump in earnings this quarter. first drop since the end of the recession in 2009. jpmorgan rose today after its results beat expectations. and nine out of ten former atlanta educators convicted of cheating on state tests are going to jail. one accepted a plea deal. another will spend only weekends in jail. the other eight didn't take deals. nobody likes smaller seats in airlines. they could be bad for your health and safety. a government advisory committee is looking into complaints about the lack of personal space, leading to air rage and difficulties with evacuation. the government-run safety test with 30 inches between rows now just 28 inches. the man who recorded the classic song "when a man loves a woman" has died. he was 74. the former hospital orderly had a long running music career including an an induction in the rock rock 'n' roll hall of fame. two big geopolitical news coming to a head. starting with obama's meeting with iraq's pri

francine: for more, we are joined by the jpmorgan head of strategy for european equities.lso with us is bloomberg's jim hertling. thank you for joining us. in this world where you see investors shifting a lot more on the european equities and you have qe, it seems that you cannot by european equities. >> i think that is a very optimistic view. there is more going on than just qe. you've had a recovery of the european economy building up for the last six months. unemployment is coming down but it is moving in the right direction. you have a recovery in the periphery particularly those countries like ireland portugal, and spain. francine: do you stock pick or do you look at -- if i want to make money you don't have to stock take anymore. you can just look at industries are country by country. stephen: i think it is a better environment to stock pick now. one of the key trends you saw in the last 4-5 years was, anything with a bond proxy did well. the momentum was all in these high-quality defensive names that were viewed as long duration. now, it is much more about what is g

the place i'm hearing the most is goldman sachs and jpmorgan.u add it up for the street for the whole year, talking about potentially thousands of jobs. and it is going to keep going. there are two reasons for it. i will stress two reasons. automation is big reason. regulation sim passing them. makes it more difficult to trade esoteric stuff. you can't trade with your own capital at these banks. this, sr. we are. this is place cutting trading floor even as it is making money. liz: charlie, breaking news about comcast and time warner cable. there is a report, that deal, that $45 billion deal be scuttled by regulators at department of justice. >> i will believe it when i see it. comcast owned by nbc you and i used to work at cnbc, hires a lot of very expensive lobbyists. gave a lot of money -- liz: more than 100. >> gave a lot of money to the obama administration. there is always a rumor al sharpton got his show on msnbc primarily so comcast can go out and acquire, without the, without the feds breathing, antitrust people breathing down his neck p

there is a big contrast between what jpmorgan and deutsche bank have accomplished.ly returned more than 10%, compared to where deutsche bank is trying to get to. erik? erik: all right, scarlet fu in new york, thank you very much. both sides in washington arming for battle as next year's spending bills wend their way through congress. republicans want to increase defense spending by ending that part of the sequestration. shaun donovan is whether us. stephanie: it is safe to say you have a hard job. what is worst? what is the most brutal thing on your plate? shaun: if sequestration comes back, think about what happened last time. we lost about 750,000 jobs in our economy. sequestration is a word that people do not understand. it is the single thing that will make sure that do we have money to educate our kids? do we have money for job training? lots of talk about medical research and pioneering breakthroughs. but we will not be able to invest in medical research must we can end sequestration. erik: shaun if republicans pass a bill that rolls back sequestration for def

david: jpmorgan jpmorgan jamie dimon arguably the most powerful man in the banking world has a warning. we'll debate what it is and break down the call. liz: the resume' is a gateway to getting a job initter view and nabbing the job itself. new recruiters are dispelling ideas how your resume' should look and what should be in it. the contest of what you are doing wrong with your resume' but how to fix it. that's next. david: our economic system is built on the idea of self-interest but when it comes to investing someone else's money, how does that work? do advisers interest not matter? we'll debate that coming up. the future of the market is never clear. but at t. rowe price, we can help guide your retirement savings. our experience is one reason 100% of our retirement funds beat their 10-year lipper averages. so wherever your long-term goals take you, we can help you feel confident. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. call us or your advisor. t. rowe price. invest with confide

jpmorgan, johnson & johnson and wells fargo among those reporting results. finished date 7 points lower. >>> the wireless carrier sprint is making house calls. the new service is called direct to you. sprint customers eligible for an upgrade to a new phone or another device can choose to have a sprint representative meet them at home for elsewhere. the sprint representative will set up your new device and take old phones for recycling. the program is free. started yesterday in kansas city. and will be available in major metropolitan areas by the end of the year. >>> after nearly 30 years coke get bounced by the nba. the national basketball association signed a new marketing deal with pepsi ending a 28-year relationship with coca-cola. it will cover north america and china. coke products will still be sold in some arenas. >>> and a nebraska man went all out to sell his car on craigslist. >> this is ford taurus the sensational -- >> used. >> -- car getting all the views. >> jango greenblatt-saye thought it would get people's attention. he used a slight change

and jpmorgan ceo jamie dimon says another crisis is looming. trade school you cannot miss. >>> in less than seven hours customers here in the united states will be able to preorder the highly anticipated apple watch but analysts seem to be split on how many watches they can sell during fiscal year 2015. credit suisse saying a high number of units. goldman sachs estimating 7.7 million. one of the lowest is oppenheimer with 6 million units. joining us now is oppenheimer analyst andrew irkwist. thanks for being here. >> thanks. >> i read the note. and i kept thinking to myself that you were drinking the apple kool-aid. i mean, you were saying things like it will revolutionize the way we interact with objects around us. yet your shipment estimate is low. why? >> first of all, apple doesn't use the word smart at all when they describe this watch. i think that's the right description. it's not a smart watch. we view it as an interface that will be between -- beginning between people then between machines and everything around you. if you think how we

earnings season gets underway with the numbers for jpmorgan wells fargo, bank of america and citigroup. rising 98 points to 18058. the nasdaq up 51 to 4995. back over to you. >> we'll see what happens today, landon. thanks. >>> now your "nbc 10" first alert weather. >> it's chilly outside. grab a jacket this morning. sunglasses necessary for much of the day today. we've got bright sunshine on the way. right now it is 44 degrees at 5:25. right now katy zachry is in the first alert traffic center. good morning, katy. >> good morning, bill. we are seeing a few more cars on the road as we approach the 6:00 typical rush hour. we are following an accident in new jersey along route 130 that's tying things up. i'll have details after the break. >> reporter: jesse gary live in west philadelphia. police still on scene waiting for a search warrant after a standoff for a man wanted with a sexual assault. we'll have the story coming up after the break. >>> "nbc 10" breaking news. >>> waiting on a warrant. we are live in west philadelphia where a police standoff ended in just the past 90 minutes. mo

then we have two huge banks, jpmorgan and wells fargo. both will bemoan the low interest rate market. jpmorgan may make it up in banking but wells fargo is a huge business. that said, my charitable trust owns wells. i wouldn't mind buying more of warren buffett's bank into weakness. because this company is very very lucrative. don't let the rate story scare you out of wells. wednesday, delta is reporting. and the key transport average need ascii quarter to get it moving as the airlines failed to keep their gains this week. the revenue delta can save the day. and then the disappointment with number cuts and disappointing regulatory and the on the positive i see expectations are as low as they can. we'll be listening to the netflix call. this stock has been motoring higher. but i think the worldwide buildout should encourage more buyers. thursday, american express, citigroup and goldman sachs. if the banks are down because of the earlier earnings reports we have seen, then make a bet on citigroup. which is getting its act together. i fear a

our government is spending billions of dollars you have targets walmarts, jpmorgans spending billions of dollars. we need a coordinated effort where we share valuable intel to build a cyber security. this is the biggest threat facing our country and our business and economy today. >> nomi, quickly. >> i wish it was so simple. this is a complicated situation here. not only do we have to worry about domestic terrorism cyber security and our companies but worry about -- france got hacked this week. they had information that leads our country insecure. >> i've got to get jonas in. >> the billion dollar geniuses in america are not going to work with the government when they are making billion dollars with start-up money. our government workers are not up to this task. we need to have a system that is hack proof. maybe blow out the computers in the storage bin. we have to seriously deal with this in an old fashioned way and separate data important from the internet. >> john, last word, ten seconds. >> horse is out of the barn. you have to deal with it in a modern world. >> thanks, guys. tha

the safety and security of american companies and banks is at stake in just the last year, ebay, jpmorgan chase, and many others have had between 50 million, and nearly 150 million records stolen. prompting some to hire armies of ethical hackers to find and fix cracks. but while patching the cracks can they get ahead of the brilliant minds creating the breeches. s there any place, truly safe from hackerser joining us, considered one of the best in the business when it comes to ethical hacking. he is the founder of a is h embedded device security company. an information security analyst, and c.e. of psychotic software, which provides i.t. security to companies worldwide. so glad you are with us, we know this is being considered one of the most destructive cyber attacks in america. do you expect this something of this scale required inside help. >> you know, i am sad to say that methods that they probably used to getting recess, and to escalate, and get access to personal data are pretty standard when we look at a cyber security assetsment or anything like that. you can probably a hire a uh

he was fired by jpmorgan last month. microsoft and yahoo! revamping their search agreement giving yahoo! more freedom over how it makes money from advertising. yahoo! will no longer have to use microsoft to serve all the ads on desktop surface -- desktop searches. we have less than one hour until the close of trading. let's go to the news desk where scarlet is looking at the action. scarlet: if you come inside the bloomberg terminal, you can see here a little bit of a leg lower in the last couple of minutes. assuming we hold onto these gains the major indexes did make headway in approaching the record high. the nasdaq got within two thirds of 1% of topping its high. he six out of 10 industry groups falling, led by utilities. they have been down all day. consumer stocks are still holding on to some gains. as for oil prices, they are building on their advances. they are now the highest in about four months. of course, you have a weaker dollar to help support the rising crude oil. look at the dollar right now, off by almost 1%. we had disappoin

we're debating jpmorgan off the upgrade today.ut 20 minutes. >> launching a major revamp to its, quote, retweet feature today the retweet with comment feature will now allow users to embed a tweet with the added ability to write in their own commentary as well. this is available on twitter's site and iphone app and it will be available on android soon. a sigh of relief we can stop copying and pasting but isn't this something they could have down long ago to make this easier? >> i feel like there's tension between the old-school twitter uses and like them not wanting to get out of control here. it's kind of like a subquote tweet thing but a beautiful thing. those of us who have tried to figure out how to fit a thought into that economy of 140 characters when trying to quote something, thank you. this might kill the mt, the mod fide tweets. >> maybe. it's up as you mentioned today and the stock has been enveloped in rumors not just today but over several weeks about the future or this or that. i'm sure if you want it badly enough yo

billion to private corporations for roads, port, power, telecommunication, railways, according to jpmorgan, but you had cost over runs and delays, and an unfair system during which contractors were chosen. talk about that. >> yes, if you look at india, there's about a million youngsters joining the work stream. we are talking 10 to 12 million a year that needs to be created. if you look in here, we realised that this was required, and from the year 2002 to 2003. we started an oon the experiment. what happened was that a number of mistakes were made. there were questions regarding the dolling out of natural resources, questions recording transparency, and environmental clearances and land acquisition, and anything that could go wrong did go wrong. as a result we saw the impact that we had from 2007 to 2013. as you said, the mood soured. projects were un viable there were cost overrun, and the banking sector, they are sitting with stressed assets. we have realised that a number of mistakes have been made, but a new government comes solely on the platform. the country realised the only way to

earlier this week jpmorgan exceeded analysts expectations. >> you may have noticed that is missing. is catching up with some of the foremost asset managers and the wealth and management summit in getting in the mood for greece and china. manas, you have a guest with you. >> i have. i have your namesake. i have mark with the $11 trillion represented. to train dollars of that is this responsibility. no weight on the shoulders. i want to start with the big story this morning and they are warning of a liquidity shock. they say that the margins are trading the highest since 1990. this is the warning about liquidity. >> let's just say they are not really portfolio managers. you can take it at face value and we have seen what it looks like. i think we are position for that move band the liquidity is the thinnest. >> you are positioned for that. there is a story he has where he says the have to stick to the program. how much market risk does greece have? everyone says they are protected and the banks are fine. do you still agree? is it the back of the minds where you underestimate the poten