they pulled back a lot, specifically jpmorgan, so my final trade, long jpmorgan >> bonawyn >> i thinkrice action tells you all you need to go, t.a.n. in the energy space. >> guy >> karen trying to curry favor with the aforementioned jamie dimon. [ laughter ] i like what she did there. alcoa, mel. >>"m mey> adon" with jim cramer starts right now "mad money" starring jim cramer starts right now >>> my mission is simple to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere. i promise to help you find it. "mad money" starts now hey, i'm cramer. welcome to "mad money. welcome to cramerica other people want to make friends. i'm just trying to save you money. my job isn't just to entertain but to educate and put it in context. call me at 1-800-743-cnbc. or tweet me @jimcramer after a rough day, dow only losing 250 points. s&p sinking

jpmorgan's jamie dimon warning it could get worse, any gain for the s&p and the nasdaq today puts an end to the three-day losing streak they have been suffering here. now the rally comes speaking of jpmorgan as the bank kicks off third quarter earnings season, top banking analyst dick bovey is here in a fox business exclusive to tell us what jumped out at him, not just in earnings, but ceo jamie dimon 's conference call, and what he expects for the other big names that begin reporting tomorrow. captain kirk went where no 90- year-old man has gone before, we'll show you and tell you how william shatner's blue origin space flight went and how you can profit on the space rates, which is suddenly getting all kinds of attention. >> but let's start with the breaking news just as president biden works to tackle the supply chain drama that's been plaguing manufactures in america and quite frankly around the world. apple shares are still struggling at this hour, as the tech giant becomes the latest victim of the global chip shortage. now, apple's been worse today about $139 and change at 140.

right now the banks are getting hit which is a good thing because for some reason every time jpmorgan comes out and is coming out on wednesday, they are always trying to hit it whether they have a good report, bad report, awesome report so my plan is let them hit jpmorgan on the report, and then the next day it's usually viable and if we stay in this rising rates environment, which i think we will, i think that the 10 year gets back to march, i think jpmorgan on any dip after earnings is the one you want to buy. liz: but you got to give me a wi ff, are you worried about sectors in particular, scott? >> well you know what? the semiconductors, right? they are the ones with all the supply constraints. the question is a lot are 10% off highs, 15% off highs so the question is if they do miss what you want to see is you want to see the miss and then the next day it goes up. that means it's priced and the street already knows it's going to wiff, so it doesn't matter it could already come in so the street plays it like oh, that was horrible news why is it up? well the stock just dropped 20% i

maybe a little player hating from jpmorgan, huh?ah, charles, the hitting has not stopped since 2014 when bitcoin was less than $1000. it is up to 57,000 today. it is up 57 times his money. jpmorgan is only up 3x in that same period of time. the idea he was comparing bitcoin to cigarettes. i haven't heard of bitcoin killing anybody. maybe killing the concept transactions shouldn't take two days to settle. but i think you know, the bigger issue here for me is that at the same time that he is bashing bitcoin, his bank is creating products and avenues for his customers to profit off of cryptocurrency so he will eventually profit off the it too. that is big point that really matters to me. charles: talk about hypocrisy wall street go like peanut butter and jelly. it is too delicious. they never separate. i want to point something out though. this is a threat. you talked about the expiration, the trading plus two and the blockchain, threats, this whole new digital economy is a sincere threat a legitimate threat to traditional wall street

. >> jpmorgan? i answered correctly. >> you did you did. or i gave the correct response. >> i should have reversed it, but i would say jpmorgan should be up more, but citi looks great. wells is a conference call you never know what charlie sharp will say, but he did buy back more stock. maybe it --. capital markets was very strong for morgan stanley as wilf reported earlier they had a very strong quarter there. we will speak to james gorman about that, but it's not as if they didn't benefit enormous will you with the activity that's goen on way longer than many people anticipated. spacs are incredible, but then they're not, and something replaces that. we still see so many ipos. jim, it has been a very good period. >> yes but i'm saying it's absurd that morgan stanley has a 12 multiple they're not a bank they are a wealth adviser that has to have a lot of other good stuff, m and a i'm standing by this, david. >> i hear you. now it -- >> obviously it's a great time, as it turned out, and advancing an important deal for them. >> procter & gam

jpmorgan chaseis world, jpmorgan chase.more than $317 billion to coal, oil and gas developers in the last six years since the paris agreement was signed. when you have a member like that, part of your alliance really speaks to the ambition of these types of clubs and i think... to the ambition of these types of clubs and i think. . .- of clubs and i think... there is a flipside _ of clubs and i think... there is a flipside here _ of clubs and i think... there is a flipside here of - of clubs and i think... there is a flipside here of course l is a flipside here of course that so much of our economy and jobs and people's happiness in people's wealth levels do depend on these industries and it's not a case that we can just switch overnight without enormous harm to people's actual lives right now? absolutely. but i don't think anybody suggesting we switch overnight, but what we need to do is see a scaling up of investments in renewables and climate solutions and a rapid scaling down of investments in coal, oiland scaling down

this could be jpmorgan's moment.sed the square revolution because the younger staff didn't bring it to his attention. will the same thing happen with crypto he could own the entire market say jpmorgan is going to make it a stable ccoin he would leap frog over. to me this is the single greatest opportunity in the banking universe much greater than paypal, visa, master card. you can follow this by joining our new investment club. yes, you can follow along with me here's what i'm thinking i'm so excited about this club that i'm encouraging you to join me on this investing journey point your phone on this qr code and away we go i want you to know why i like master card and paypal i know it feels hostage. i say set up a separate division taking over the stable coin business could be momentous. the valuation versus the rest of the market is still way too low because the bank needs to innovate and use the trusted brand to dominate crypto and become the banker of the next generation too it's jamie dimon's call. i always like

we have results from financial giants jpmorgan and blackrock but the market stumbled out of the gate. think it's a good thing, i think it sets up the ultimate test. break the closing swoons into the closing bell. meanwhile of course stocks have gotten a lot cheaper. i think the best kind of dip is out there for you. i'm talking about buying stocks at lower valuations. but who has the nerve? joining me now, group that always has great nerve, barry nap, erin gibbs along with gary gary kaltbaum. core was better month over month. used cars, airline seats starting to slide a little bit, barry, month after month. here is the question, if inflation is ultimately the cure for the inflation is the stock market overreacting right now? >> i don't see any evidence that we had serious demand destruction right now, which is what inflation is the cure for inflation comment implies. if you look at various components of cpi, what you see is broadening out of the price pressure. you're right to note that the reopening related sectors like air fares, lodging, used car prices are coming off, however the

app downloads of financial services apps being on the digital banks that we're seeing and i know jpmorgan talked about really moving forward internationally with a digital initiative even the legacy banks know if they're going to compete, it has to be on the digital format but a third of total downloads up from single-digit percentages versus the banks a few years ago. the chimes of the world and the borrows and when you include square and venmo in those numbers, two-thirds are on banks. we absolutely think that trend is here to stay and that consumers have shifted to using digital and away from the branch bank >> we're going to continue to follow it. darrin peller, thanks for being with us. >> thanks for having us, guys. >>> apple watch reviews are out and we have the breakdown on that >>> keep your eye on shares of amazon since andy jassy took over we'll have more on jassy's first 100 days in the chair as "techcheck" mebacos ck >>> bottom of the hour let's get a reset with news update and rahel solomon >> good morning. here's what's happening at this hour rising food and energy prices d

then from jpmorgan chase to these stocks, bank of america off 1% citi down 1% wells fargo down 2%. and morgan stanley up. i can only imagine what our colleagues will be doing all day tomorrow watch those big names, the financials in the focus, kelly >> and one in the green, morgan stanley. >> the fed limits due out in the next hour, my next guest is concerned with supply chain slowing the economy. mark smith, senior vice president portfolio manager at wells fargo advisers and gregory d docko. greg, you say it's not stagflation, but it's messy. what do you mean by that >> what we're seeing a messy environment, with sticky supply chain inflation. that's a long acronym to signal the fact there's this ongoing balance between strong demand, still strong demand, and supply that's taking a bit longer to come up to that demand we're seeing that stickiness in inflation something that is different from the pure transitory team that is expecting inflation to fall back rapidly. >> and mark, do you agree with the stickiness there, does it contribute to your nervousness about the market overall

the present and the ceo of citigroup and jpmorgan chase urged republicans not to blocking extension of the debt limit warning the economic damage it would cause. >> hello, folks. i want to thank -- we can take these off while we are speaking. i want to thank her participants here as well as those on zoom. this is to state the obvious. it's an important get-together here. i am going to make some brief comments and maybe ask a few questions and then we will yielding go down the road and maybe we can all of us talk virtually as well as in person and hopefully make some progress. i want to thank us the secretary of the treasury's secretary yellen congressman it's good to see you and the leaders of some of america's most important business is in institutions. the american association of retired persons are, bank of america deloitte intel jpmorgan nasdaq the national association of realtors and raised on and we are joining today to talk about the need to raise the debt limit. we haven't failed to do that since their inception as a country. we need to act. the united states pays its bills and

part of your old days, i imagine, right >> hub spot, not jpmorgan? i thought it was free per. >> can i just say it was a great quarter. if they reported on wednesday, next wednesday. >>> also delta, of course, moving a bit lower, says they expect a modest current quarter loss due to higher fuel costs. as for the vaccine mandates, here's what ed bastion said earlier. >> 98% fully vaccinated across our entire company those numbers continue to improve day by day by the time we get into november, i'm confident the number will be in the 95% range. we haven't done it with a mandate. we've done it working collaboratively with our people, trusting our people to make the right decisions, but at the same time avoiding the divisiveness what the mandates pose to society. >> says that revenues should be back to 2019 levels. by 2023, sees business and international having a good year next year. certainly as the u.s. will open land borders, vax required, that will help tourism. >> that's a better quarter than i expect from southwest. delta did better than southwest

. >> you know, one of my all-time favorites continues to be jpmorgan. i know it's up 30 something percent on the year, but there's a whole sector recently, just because of the thought that maybe capital market revenue won't be as strong as they first thought. i think it's trading at a discount, given the fact that jpmorgan has the strongest or one of the strongest investment bank branches on the planet. it tends to lead in loan growth and let's keep in mind loan growth has not been that good this year so not surprised jpmorgan is up as much as it is. people who are relying on savings but i think loan growth will start to expand, as we get into the end of the year, and best-in-class technology being able to market to the average investor, the average bank person, and the most complex deals on the planet, so when you think of pe of 11, yield of about 2.4%, i still think it's a good buy. >> no, no, i hear you and by the way we gotta run but to your point here, if you do have a higher interest rate environment over the next several months it's going to happ

bradshaw, managing director / head of global aggregate fi strategy, jpmorgan chase bank joins us now. you. to underline the headline on u.k. natural gas prices, u.k. natural gas futures dropping as much as 70% -- 17%. maybe we continue with that drop yesterday on the european gas narrative because of what russia had to say. this rebound in risk assets today, do you sense it has legs? myles: there is a lot going on. it is important to separate the trend, the underlying macro conditions with the short-term noise. the fundamentals of the economy are good. we have strong household and corporate balance sheet. we will have a gradual withdrawal of monetary and fiscal support. this is supported for risk assets. if i look at my portfolio, we expect corporate earnings to be good. this is a market where we want to own higher risk assets such as high-yield. tom: what about inflation expectations being baked in? a similar picture across the german benchmarks. are you concerned about baked in inflation expectations, and what that may mean for earnings? myles: this is the key risk. we have had infl

jpmorgan says twitter is more insulated from att/idfa. saying that privacy changes giving 85% a brand and 50% advertising mix. saying though we believe investors are more focused on user growth and progress new products this quarter. we will also be listening for any updates on the success of twitter's new tools for people to pay for things on the platform like news letters or super followers and what's next for the pilot ecommerce feature. so we're going to go into earnings with a quarter of analysts have a buy rating on the stock. 60% have a hold and 15% have the sell rating. so more mixed there. >> one of the questions julia seems to be about the extent to which twitter certainly facebook, might have a better grasp on user data because you have to login order to use those platforms relative to something like snap. i don't confess to know sort of deeply how true this is of these platforms, but broadly speaking, is that the issue? that if they have that logged in platform, they can maybe kind of get around some of these problems although

what they do, treasuries rally today sending yields lower perhaps we got some data from jpmorgan maybe though some people are thinking that inflation could soon peak meaning this might be one of the last red hot cpi numbers. maybe that's what the nasdaq said when it rallied so hard let me give you an alternative scenario i'm going to have to dust off my old when inflation now button. whip inflation when inflation this thing was crazy we all walked around when this win inflation buttons we had i can't believe i wore one you can see them on ebay you can google you can google and then go to e bay. people made a lot of bad fashion choices in the 7'70s back to the peak inflation let me give you some suppositions that make a ton of sense here write these down if you want to. first, last time we checked in with our resident commodity, expert who told us historically oil tends to peak when, now. this week. that's your take away from the last 30 years of data. now, this week warned us to be ready for natural gas peak, boom we got one even a week ago, every one thought they would go above. also

>> they're willing to back people who jpmorgan is not interested in. >> yeah. >> they don't -- jpmorganthey gotten away from the very concept of helping the small business technologically, what do you think >> i think there's something to that obviously we talked a lot about paypal. >> jamie is dismissive of a lot of this technology. >> i don't know. >> eh, blockchain. >> it can be a side effect of getting older. >> charlie sharp's adopting upstart. >> explain to people what upstart does i think sometimes we gloss over these things >> these are all these a.i. algorithms that allow much more accurate -- that's what i was talking about yesterday, though, with the buy now/pay later, what they've been able to do there, the a.i. that powers a lot of that it makes decisions about who to lend to. >> you know, rocket mortgage loan losses are lower. >> that has not about a great move since it went public. >> rocket has disappointing, though i love dan gilbert. >> two names -- space with a five-month low, and boeing, with this indictment of the ex-pilot, as the criminal prosecution continues. >>

>> well, listen, man, i actually find that really funny, last time i heard jpmorgan is offering cryptoducts and is building technology around cryptocurrency and blockchain, right? when he says crypto has no intrinsic value that is jamie dimon's personal opinion, not his business opinion. i say follow the person's money, not their mouth. when jpmorgan is pumping millions of dollars into cryptocurrency and blockchain that tells me there is a ton of potential ahead and a ton of upside potential. follow the money, charles. that is where it is at. charles: especially when it comes to wall street, i'm with you 1000%. they always say one thing and the fund is doing something different. 45 seconds, the market is a little rocky, are you making changes to your portfolio? >> the market is looking a lot more attractive than three weeks ago, 6% from all-time highs. the policies from washington are becoming much more reasonable than originally thought. spending bill was cut in half, meaning taxes don't have to rise as much. that is good for the stock market. i don't see any reason to sell stocks. th

in the words of jamie diamond, the ceo of jpmorgan chase, who brought us to new york, and went to indiana, he said something that was powerful. after visiting this insurance company, he said, if each of us would do it pinnacle does, and make them use apprentices, it would change this country. that's the reason i left my business. that's the reason i spend 50 hours a week at career wise, because i think we can change the country, so that ten years from now we will not be talking about this problem. thank you. >> thank you, noel ginburg. appreciate that. -- >> good morning everyone. i completed my registered apprenticeship with pinnacle insurance and became a full-time worker at a business development representative. before my apprenticeship i did not know it pathways going to take. i could have gone to something that did not suit me. that's what a lot of people my age to. they do not feel like they have options. but because of my apprenticeship i feel like i do have options. because my apprenticeship i have experience, confidence and a career path and the ability to provide for myself. tod

find a line they don't think is good haven't bought jpmorgan by now, you can afford to wait see what happens blackrock reports too. a huge asset gathering almost as if they have a monsters port i say that numbers wouldish considered much better than expected even though not knowing what the numbers are. i don't know a soul that believes they won't be excellent. blackrock saves its stock. itching to buy something for a trade this is the one. reference incredible knop matter what can put a blank number and people would draft it in the first round. next up airlines seem to be talking every day. like they can't shut up. delta reports wednesday morning still people will be surprised how bullish they are about prospects of return of international travel and done quite a bit of flying since the pandemic peak i've seen planes get more and more full go to europe, though, conscious of the green pass. showing you're vaccinated, e could use it over here but don't have political will. de delta air would do a lot better with a passport policy to handle the delta variant. i asked commerce secretary

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the three words that sent the bitcoin brigade wild today what jpmorgan said about the cryptocurrencyed thousands of flight? a nightmare weekend for travelers. we'll break down the fallout later. >>> and ante up, should you roll the dice on these names? >>> running out of gas, so to speak, xle hitting

they say the ghosting trend is likely at certain companies like cisco, jpmorgan, oracle. intuit and even uber. many viewers are thinking, this must be more of a trend amongst the younger workers. maybe, possibly but things are so bad, eastern the mob and mafia are finding it difficult to get good help these days. older members complaining the millenials, in a "wall street journal" piece that grabbed a lot of attention, they say that those grew up on suburbs in city streets are softer, dumber and not as loyal as mobsters in the past. plus they're always texting. so it is not gang warfare or snitches that might bring down the mon here, charles. mismanagement, bad hires apparently. charles: [laughter]. yeah, you know, when you need somebody, they can't be texting, okay? thanks a lot. >> or from the suburbs. charles: yeah. it feels like the greatest jobs market in history being in part by the greatest pity party in history. how does something good like 11 million jobs turn into maybe a missed opportunity. joining me now trend macro cio donald luskin. don, even the mafia can't

jpmorgan reiterates their underweight although bring the price target up a bit.p where they're clearly number one to unit volume where they ranked 18th and in their view that does not work. >> no. and that is the argument that you hear from a number of analysts, not all analysts, but a number of analysts continue to say look, you cannot support this valuation with the number of vehicles that are being delivered. even as they move closer and closer to delivering whether it's 900,000 or more than a million vehicles, which is what many expect them to do next year at the valuation where they are right now, the -- i wouldn't call them bears but the more skeptical analysts say this does -- this valuation does not make sense obviously the bulls counter by saying, look, they've got a number of things that they're working on that are going to kick in and justify the valuation over the next several years. >> get above 800 this morning since march. phil lebeau. we're going to keep a close eye on the market. tech stocks as we said getting hurt here. nasdaq lowest level sin j

ability to beat the pandemic all day you hear about supply claim disruption jamie dimon, ceo of jpmorgan, said it might be over. we don't even know what it it is why haven't i received my darn shower did a dore? where is the furniture i ordered? how come the faucet is not hear? i if i could get an answer from sense, the ports are jammed up and we kind find enough truckers all right, already we know it that's not the real reason most executives make plans out a year ahead of time saw many companies came in with the 2020 game plan ahead of the pandemic last fall. completely caught with their pants down when the economy reopened anyone who tried to pivot and flood the zonewith more supply to take advantage of it has gotten crush hey, listen. southwest air tried to take advantage of a sudden uptick in travel and got hit with unintended consequences because the capacity is not able to take advantage of the increases it seemed like a lot of things went wrong when they tried to take advantage of the higher prices there are truly ridiculous parts of the economy that are laying us to waste. let's

jpmorgan at a new high.s come in and put a floor under it. we've not seen much yet, have we? >> with the financials some are higher, but we just were showing three that were leading the dow about an hour ago now negative. so they've turned9 into the red. it could be because the 10-year, it's close to 1.5%. it's not quite there. it's not at those june highs like we saw last week, but we're even seeing some money pull out of financials. stuart: bitcoin's at $47,000 a coin. what's this i hear about a surge in brick and mortar crypto exchanges? >> this is a great idea. an actual store where you can go in and talk to someone about bitcoin and cryptocurrencies. they can help you set up a digital wallet. one example is called coin nurse, they charge a fee of .99% per transaction, putting it on main street. people understand it better because i think understanding it is one of the barriers to it. stuart: i need to get more information on this developing news story which is the large are oil spill off the coast of ca

last, year jpmorgan chase announced that four months, it had been in talks with the post, office about potentially putting chase bank, atms, in post office lobbies across the country. that's nice. that's nice for chase bank, particularly nice for the head of the post office, who at the time of those talks, had a large personal financial, stake in jpmorgan chase. oh really. all that on top of him promising to increase the cost of sunday mail this, year specifically for the christmas season. 'tis the season. everybody likes to mail things for christmas, so he'll give the american people a special christmas present this, year of specially hikes postal rates, just for christmas. and that's on top of the new plan he is just started implementing, to make the u.s. mail service, permanently slower. and permanently more expensive. except for christmas, when he's making it even more expensive than that, happy mary. happy mary, mary happy. enjoy the holiday. and now he stands accused, in federal court, in virginia, of screwing up the mail, so much it may mess up another election, according to the

at the time of those talks, dejoy's financial interests in jpmorgan chase was more than $15,000. had conflicts of interest related to the company he served. the u.s. postal service maintains dejoy acted in compliance with ethics regulations, saying in a statement, quote, when and how he divested reflects the process he was instructed to follow by the postal service ethics office in compliance with federal ethics regulations. all right. joining us now is noah bookbinder, executive director of c.r.e.w. you contend the postal service mishannaled his conflicts of interest from the start. why? >> it's clear that both dejoy and the postal service really dropped the ball here. this was the head of the postal service who had millions in interests in the company that he used to work at, that everybody at the postal service knew he used to work at, that had multiple valuable contracts with the postal service. so, you know, whether or not he was in the room when decision ts were made about that company and what the postal service was going to have him do was recuse, was walk out of the room

maybe that's the reason you are seeing tech do so well today and jpmorgan lagging look, this discussionf we turn to a higher rate world that technology stocks suffer, that's 1990 stuff that's not going to even affect the alphabetsand microsofts an facebooks of today it might impact nonearning disruptive tech, spacs, the teledoc, the zooms of the world that are unproven. whether rates rise or whether they don't, i don't think it is a reason to sell out of tick i think it is a place investors want to be you obviously have to diversify around that. we talked about ideas before about where investors can be, but technology is at the core of our investment thesis. >> chris, where is technology for you and why do you look to names like boeing and facebook, which many people would put in the too-hard pile and walk away from >> it is funny, kelly, because the more someone agrees with you the smarter you think they are i think mark is a real smart guy because i think exactly the same i think that if you look at the revenue growth, not just the earnings but revenue, and that's the tough thing to g

jpmorgan, ceo thereof, jpmorgan, bitcoin is quote, a little bit after fool's gold.about it every single day. bitcoin is not going anywhere. it is too well accepted. i was one of the early people who thought it was kind of smoke and mirrors but, whether it was or it wasn't, no different than doge to a degree. once you get enough widespread support for it i think it is legitimate. i not comparing bitcoin with doge. i don't have doge. bitcoin will be here for the foreseeable future. it is not going anywhere. stuart: do you plan to buy anymore? >> i would like to buy more. i don't have free money to buy. i have to make more money. stuart: it is widely reported that you made several hundred million dollars in your -- >> i'm not totally liquid here. i'm buying houses. i'm spending money on stuff. stuart: where are you buying houses? >> i bought a house in miami. i got one in the hamptons. i'm off to two good starts. we're trying to throw a yacht party. the penn which is the vast majority of my fortune, 200, anybody who bought it, invite only yacht party at my place in mia

. >>> investors are awaiting quarterly earnings from jpmorgan chase, walgreens. shares of 90-year-old actor william shatner and crew mates will have to wait until wednesday to travel to the edge of space. blue origin is postponing flight from texas by one day because of high winds in the forecast. the space flight company says shatner who played captain kirk on original star trek series will be the oldest person to boldly go to the final frontier. that's your cbs money watch report. head to cbsmoneywatch.com. at the new york stock exchange, i am naomi ruchim. >>> remember when flying cars were around the corner? how long have we been waiting? >> as john blackstone found out the future is now, almost. >> reporter: many people have imagined pulling a flying car out of their garage. marcus is actually doing it. he wants others to do it too, his company opener plans to start selling the aircraft called black fly within the next few weeks. >> i believe that vehicles like this and other vehicles like this will revolutionize transportation going forward. this is just th

jpmorgan and delta are among the companies reporting third quarter results.s lost ground again yesterday. the dow fell 117 points. the nasdaq lost 20, and the s&p 500 was down 10. >>> there's new guidance on the daily use of low-dose aspirin which has long been recommended for heart health. says most adults should not aspirin to prevent a first heart ts in eir 40s and 50s are advised to take aspirin only if their doctor determines they're at higher risk of heart disease and people who already had a heart attack or stroke should continue to take their daily aspirin. >>> for the first time the fda has authorized an electronic cigarette. federal regulators say vuse solo helped users significantly cut back use of cigarettes. however, they stress that people who don't smoke shouldn't use them. the fda is facing a court deadline to determine which vaping products should remain on the market. >>> and if you have deep pockets, you can buy land currently owned by kanye west. the rapper is selling his ranch in wyoming for $11 million. it covers nearly 4,000 acres. it f

a busy week on wall street with major financial companies including goldman sachs and jpmorgan chaseease third quarter earnings results. key economic data will also be out, including the u.s. consumer price index for september. meantime, stocks ended in the red on friday. the dow lost 8 points, the nasdaq slipped 74 and the s&p fell 8 points. >>> facebook and instagram are introducing self new controls after a whistle-blower said the platform harms teenagers. the social media platform's new features include prompting teens using instagram to take a break, and also nudges them from looking at content that can hurt their well-being. facebook is planning to introduce new controls for parents to supervise what their teens are doing online. >>> jeff bezos's space company blue origin said william shatner's flight to space will be delayed. the "star trek" actor will now blast into orbit wednesday morning instead of tomorrow, all because of bad weather. the 90-year-old will be part of the second launch with crew on board. the company's vice president of mission and flight operations will joi

okay, so when you look at bank of america and jpmorgan in particular, they have been growing primarying, it was serving the underbanked and the unbanked, and they threw away too much risk. but look, given the tradeoff after the global financial crisis, you wanted the bank industry to derisk, and that's what they did. now they're taking another look at some of those customers that maybe they should have approved when they denied but aside from these preferal items and they are pureferal, the primary checking account is the major relationship vehicle that is for the banks. you're seeing the multiproduct, multidistribution, multigeographic approach of the largest banks. it's leading to more customers, staying around for longer, and with greater customer satisfaction and you know i was negative on the group for a decade and a half and now here i and we are positive on the bank stocks here, and this is really a time that if you're a portfolio manager underweighted bank stocks you better take another look >> i wanted to ask you about a note you put out yesterday, because i think it was kin

earnings start in earnest next week when jpmorgan starts. we heard pepsi. jpmorgan is the first dow stock. they look at thats being the official start. i think we'll hear a lot more from these companies about input prices an inflation and profit margins and some companies will have pricing power while others are not. pepsi came right out and said look, we've got pricing power, our prices are going up starting today on some of their products. that will be the theme that we hear going forward and that is going to kind of keep the markets on edge a little bit as investors begin to really price in, what will this look out five and six months out in the guidance that we're going to get from these earnings reports. neil: we'll watch it. kenny, thank you, good catching up with you my friend. kenny polcari. go to hillary vaughn in washington right now. this is the latest attempt, the third one, hillary, democrats are trying to find a way to address the debt ceiling impasse. apparently they will try to act on their own, here. reporter: neil, at 2:30 hold procedural

jpmorgan ceo jamie dimon predicting a "complete catastrophe for the global economy." raising the debt ceiling used to be a standard bipartisan vote. but now, republicans want democrats to own it heading into the midterm elections. this although 98% of the current debt was created before president biden took office. $7.8 trillion of it during the trump years, when the parties voted to raise the debt ceiling three times. senate minority leader mitch mcconnell didn't mention any of that today. >> but the democrats who run washington have done nothing. they've squandered week after week after week. >> all right, so, rachel scott, who has been following this every night for us from the hill, rachel, republicans, democrats agreeing today to temporarily raising the debt limit until december, but a lot of people watching from home tonight are going to say, is this just kicking the can down the road here? >> reporter: yes, david, this is really only a temporary fix. lawmakers will have to revisit this issue in several weeks, as they are also trying to avert a government shutdo

jpmorgan likes them raising them to overweight, giving them a $21 price target.e from the almond milk and other varieties. and look at this, united airlines, the airlines are down a bitted today. they had a tough third quarter, they're looking to the holidays, they're looking at the reopenings of the transatlantic routes, but i thought this was interesting. they say they received 20,000 applications for 2,000 flight attendant positions that were open. that's more than they received before covid. ashley: wow. >> so do americans want to work for companies with advantage is seen requirements -- vaccine requirements, or do americans just need jobs, is the question, but that is good news. ashley: interesting. that's very good. we've got another one for you, lauren. i found this very interesting. ireland has signed on to the deal of the 15% corporate tax rate. it's surprising because ireland has been such a low-tax company. why the heck did they join in? >> because the negotiators took out two words, at least. so the global corporate tax is set at a 15%, not at least 1

of rehe acceleration in economic activity we should see here again current state of consumer. >> jpmorganevenue exceeded 30 billion dollars, rest of the big banks going to report quarterly what are you expecting there? >> i think the big banks are going to do pretty well jpmorgan's report they made a lot of money in capital markets area particularly emergency and acquisition activity has been running very hot, record levels dealmaking occurring, given strength of the economy and i would say low interest rate environment jamie dimon and comments commercial industrial lending bread ant butter banging industry i expect big money center banks to fare well not going back to traditional lending channels by way of capital market activity going to be -- smaller banks talk about what it means for lending in commercial practices because that will be a tell on strength of economy how willing the consumer is to re-leverage, going to help further drive economic activity should it occur, so he indicated they saw some improvement on sequential basis down year-over-year to watch for disappointing we have

let's start with jpmorgan. >> a great start to the earnings quarter, largest bank in america doing better more confident they are loading out another $2 billion they are keeping the bank just in case, keeps anything from happening during covid. do you see the record advisory quarter, they made the most money every in advising people in m and a activities, jpmorgan up 30% on the year. stuart: down a little bit today despite that. black rock. >> how does $9 trillion sound? under management, largest asset manager, less than $10 trillion forecast. this is a monster company doing well when it comes to etf. when we talk about jpmorgan, jamie dimon says it is worthless, the founder of black rock sees huge opportunities in digitized crypto block chain, crypto currency. the underlying technology, it is a block chain, and the direct transfers in the future. stuart: what stood out and he was black rock manages $9 trillion. delta reported the stocks down. >> first quarterly profit since the pandemic but they are forecasting the final 3 months of this year because of higher oil prices and jet fuel cos

i had a struggle with jpmorgan i want to deposit with jpmorgan and you have to speak to people and alwaysy kind about it and should be hlike paypal. it is easier to own than gold. i don't know if you need an etf. >> is this a landmark moment for the asset? >> it is and a great reason to trim i've been selling ethereum and took some profit of bitcoin and bought a farm. real estate seems to be peaking. according to various reports maybe zillow i think that real estate is more timeless and valuable in inflation than these might. >> sure. a disappointment on housing starts largely due to multiple family on fire you mentioned zillow today downgraded down to neutral many unanswered questions in the near term. >> why not slow down than stop altogether raises a good point. before chairman gensler, i think if you get all of congress against you you have a ten-part series in "the wall street journal" to shame you every day and people think you're trying to ruin society is how you get the stock going. facebook is unstoppable! mark zuckerberg might be saying bring it on! we want more hearings. we wan

with inflation here is stagflation stagnant growth plus rise in prices soon to come let's get to jpmorgan chase local strategist david kelly the dow and s&p are lower but were going to get to whether the fed is buying the karbala inflation but to get viewers ahead of the curve are we or are we not assume to face the inevitable flag station. >> not in the way that we remember if you remember the 1970s yet high unemployment and inflation back in 1980 we had inflation running at 13.5% and unemployment at about 8%, these are the misery index you that inflation and unappointed together that's 21% the next year maybe unemployment at 4%, i think by the end of the year will have inflation about 3% were gonna have a little bit higher inflation and slower growth as the economy hits employment is not like stagflation. liz: the 70s and 80s were tough but tomorrow morning we get the cpi the consumer price index for september this gives us an indication of inflation at the consumer not the manufacturing that comes later, were expecting to see a 5.3% jump in the price three-point tenth of 8% month over

this isn't about making sure that hedge funds or jpmorgan pay their fairr share, is it? >> no.iden asking you for $80 billion to weaponize the irs against you to raise an army of bureaucrats and have them invade your privacy to get more control over your life so they can access the details of your bank account. this doesn't sound like healing me.unity to but like you said, i'm not against using the irs to punish enemies, the oligarchs hiding in tax havens in delaware and south dakota, exploiting cheap illegal immigrant labor, we should go out and crush them. but the irs is at least on middle american specifically which tells you who's side is. obama do the same thing. he is the irs to target conservative groups. >> tucker: go ahead, i'm nodding in agreement. >> the funny thing is the irs apologize for that in 2017, but now biden is turning the guns on the little guy and allowing the most powerful to slide. of course he would, they are in his administration. but the irs is one head on this monster. attorney general merrick garland has recently instructed the fbi to investigate t

i see some of the incredible things that jpmorgan is doing. none of them had guns to their head he could have retained the funds as profits that's not what happened i think he is fighting inequality because it's the right thing to do. how about the fact the guy's got a heart. it's a shame that most people eyes glaze over when they read p pages 6 and 7. me, because maybe i'm older but those the two pages i now care about the most from my perspective, they are looking real good. i'd like to say there's always a bull plmarket somewhere. tomorrw the news with shepard smith starts now >> breaking news now on cnbc, a boeing test pilot has just been indicted in a case related to the 737 max. this is the news on cnbc >> moderna's third shot. experts give the okay as the vaccine mandate fight intensifies. >>> chicago police and the mayor at a critical standoff the deadline is friday >> i guarantee you at least half the department is staying home come saturday morning. >> steve bannon refusing to testify. the insurrection committee stonewalled. now, eye

it's a busy week on wall street with major financial companies including goldman sachs and jpmorgan chaseo release quarter earnings results. key economic data will be out including u.s. consumer price index for september on friday. >>> get ready for holiday shopping. target is hoping to lure customers by offering money back if the price of an item you purchased at target drops now through christmas eve. the company will match prices from certain competitors but must be requested within 14 days of purchase. >>> expect lines outside apple stores as the company faces shortages of the new apple watch. series 7 was unveiled in mid september and preorders started friday but within minutes customers saw delivery dates pushed back as far as late november. some high end models listed at currently unavailable but there may be some available in store. the company likes to keep a supply on shelves so they don't look empty on launch day. amanda. >> i hear teachers can cash in on a free breakfast at mcdonalds this week. what are the details. >> reporter: educators, school staff, administrators can get

jpmorgan, ceo also warning that inflation might go higher than people expect. even democrat chuckie schumer whining and complaining. he supports these idiotic policies and he's complaining his constituents will soon be forced to choose between buying food and heating their homes. one of the rare times he said t something that is truthful. take a look. >> a new word with every touch this winter, many seniors and working families will also have to reach much deeper into their pockets. so given that, it's my job to turn up the heat on the federal government both for this worry manifests itself into real trouble. no family should have to chooseh between heating their home or putting food on the table. that puts aa lot of people, particularly seniors -- >> wait, this was a high-class problem? senator schumer can be of the control of the senate, control of the house, yet controlled the white house. these are your problems that you have created along with joe biden. to make matters even worse, america's supply chain, as we've been telling you, is in tatters. we have b

right now jpmorgan and credit suisse says you have to wait four weeks for an i-4 -- iphone 13 pro orave the 12 factories in vietnam but also jpmorgan says the fact of the lag time is roughly around 19 to 34 days in the second week of orders and people are trying to pick up their iphone 13s, that shows i phone 13 is showing better than anticipated. wait longer. neil: right, right. susan: more people ordered it. it is good indication as well for apple. neil: wasn't in the beginnings, they must have survived the chip shortage? susan: make their own chips now. they are one of the largest chip manufacturers in the world. they make the chips that go into the iphone, ipad, right? the a-15 bionic if you care. neil: oh, sure. susan: there are some companies doing it better. apple as i mentioned to you, the fact that you could get and buy all four iphones on the same day was actually indicative when you control your own supply chain like they do with chips that go into these iphones that is probably a positive thing in this global chip shortage environment. neil: doesn't shield you from everyt

so this really isn't about making sure that the hedge funds are jpmorgan pay their fair share, is it?asking you for $80 billion to weaponize the irs against you to raise an army of bureaucrats and have them invade your privacy to get more control over your life so they can access the details of your bank account. this doesn't sound like healing and unity to me. i don't know about you, tucker. but like you said, not against using the irs to punish enemies and reward friends. the oligarchs hiding their money in tax havens in delaware and south dakota, the people exploiting cheap illegal immigrant labor, like the kochs. obama did the same thing, he used them to target conservative groups. go ahead. >> tucker: now, please come you keep going. i'm just nodding in agreement >> the funny thing is the irs actually apologized for that in 2017 but now biden is turning the guns again on the little guy and allowing the most powerful and corrupt players to slide and of course they went, they are in his administration but the irs is actually just one head on this monster. attorney general merrick g

we'll be joined by the cofounding partner of asia alternatives and a global strategist for jpmorgan inside strategy team, so that brings both a public market and private market perspective. so i'll pause there and answer any questions the board may have. >> any questions? hearing none, public comment, please. >> clerk: thank you. callers, if you haven't already done so, please press star, three to enter the queue. operator, do we have any callers on the line? >> operator: madam secretary, there are no callers on the line. >> clerk: thank you. >> we'll go to the deferred compensation calendar, and since we always put this at the end of the calendar, next month, let's give them a break and put them at the beginning of the calendar. item 12? >> clerk: item 12, discussion item, sfdcp committee report. >> thank you, madam secretary, mr. president. the committee report stands submitted unless there are any questions from the board members. >> any questions from the board? public comment, please. >> clerk: thank you. moderator, do we have any callers on the line in. >> operator: madam secretary,

he will be hosting ceos and major bank companies like bank of america, jpmorgan and hosting aarp, which represents millions of americans whose social social security and medicare benefits could be at risk if the nation were it default. all of these issues are top of mind for this white house, and democrats up on capitol hill as they are trying to avoid any major financial and economic calamity if the nation were to default. >> all right, so let's be frank, doesn't look like republicans are coming around on this. and mitch mcconnell never bet against him when he set his mind on something. lauren, two options for democrats, given you would need 60 votes under normal rules are either carve out an exception to the filibuster to raise the debt limit or go via reconciliation. the trouble is it seems like manchin, sinema and others view the carve out as a floodgates, the filibuster goes for a whole host of other things. based on what you're hearing on the hill what is the most likely path forward? >> reporter: depends who you talk to, jim. democratic leaders are being very insistent that this