i'm looking at things like alibaba and jd jd is -- to sell over jpmorgan alibaba, david these were the blue chips. >> it's the name we focused on the most obviously i spent some time there many years ago at this point already on the campus there with its founder jack ma jpmorgan saying it feels to us like a number of global investors are in the process of reducing their exposure to china in the internet sector there that could lead to significant fund out close from the sector that's the type of insightful analysis we should be bringing our viewers at 9:00 a.m., right jim? >> i think it would have helped to get that alibaba call out at 200 but who am i >> no kidding. thank you so much for that. >> no kidding is the research this morning i like david costen, he gives you a no kidding but he also gives you earnings per share will only rise in oils. >> right he still gives you a 10% target in cut going to 4,700. you know, that's still hopeful it's hopeful. >> i don't know, listen, there are a lot of large hedge funds that have enormous amounts of significant exposure to some of these chin

falling sharply, jpmorgan down 8% in just the last two sessions what are the banks telling us? is just a reaction to the decline in the 10-year yield what's going on with spreads or is there another message, karen, that we should take >> i think there's several messages, i think one is what you said, right. but there's other ones too i think the most important to me is the potential for sort of a credit -- i don't know -- spill over, right? so as i go through and look at all of the banks, do what everyone's doing, put up the 10k, the term russia, you see how many things come up. right? hopefully gives a little bit of comfort if any but you can't help but worry about a credit contagion we saw it in the credit financial crisis i feel this time they're not as interconnected but you don't know who has the exposure until after the tide goes out. so it it's the rates also is the economy going to slow mike loan growth slow. and the market being down. lastly, the extend the money setter banks like citi, bank of america, jpmorgan to the extent they have capital markets business, investm

. >>> and jpmorgan chase will resume hiring unvaccinated people next month.ndate and mandatory testing for unvaccinated staffers. in a memo, the bank says it's learning to live with covid as part of our new normal aren't we all. >> appreciate it told you chinese stocks are dropping jpmorgan downgrades some of those names and says the space, internet stocks in china, uninvestable that's a 12-month view kevin o'leary says not so fast ten cent, alibaba and i'm going to destroy the pronunciation of this because i vant heard of it. meituan. >> think of uber eats in asia and china. that's basically what it is. it's growing faster than uber. anytime you get an analyst calling stocks multibillion dollar market cap stocks growing in an economy larger than ours, growth rate is, uninvestable, that's a buy signal. those stocks were crushed today after being already slaughtered so they're down another 7 to 9%. not sure i'll catch the bottom here, but you have to make a fundamental decision let's bid against china. the head winds for chinese stocks is the abr structure. th

joining us, jpmorgan equity research analyst doctor good to see you.your colleagues liked policy and procedures the best usually navigates headwinds than some others. why gdowngrade it today >> thank you liking it for years, from 2018 like relatively but don't feel the one relative basis valuation standpoint warrants further re-rating on the stock and we like names more exposed now to reopening and underlying trends lie estee lauder and coca-cola. >> why because they haven't seen full benefit of reopening of economies and airports and stadiums and that sort of thing? >> yeah. 2 no i think even proctor seeing some benefit from some categories like deodorant, grooming, shaving, also beauty not the same level that we are going to see probably for estee and coca-cola. case of coca-cola 5% revenue in basically on premises. that's the reason why we like it better on a relative basis >> which is basically out of the house. who has pricing power and who doesn't? a. great question. coke is one example has a lot of pricing power. proctor also has a lot of pricin

and then be traced back and have to deal with mass testing as well as potential lockdown >> mike, jpmorgan disagrees with our guest, andy. called the stocks uninvestable, which a lot of people see as a late call. the jp.com, i don't know if you read that report, that stock has held up better it's double downgrade today down to $35, and they say it doesn't look like there's going to be any value plays anytime soon >> obviously, the call is chasing the stocks lower we have to be clear about that they're way off their highs. i would have to agree it's not really about the corporate fundamentals for the most part if you look at alibaba, baidu, they look cheap if you believe the earnings numbers the analysts have been very slow to give up on these. each one of those stocks i mentioned has 85% or 90% buy ratings. when we talk about uninvestable, i think even if it's a low probability that there's some kind of sanction/delisting risk out there for china, it's not zero and it's probably higher than it was a while ago. that nee is the fix, plus, there's hedge fund liquidation going on in this area.

i think jpmorgan is a little too beat up. >> a warning there for some of the employees.ake your point about the flexibility. what about wells fargo do you think they're close to being able to remove the asset cap? they were the best performer last year. >> to be fair, my associate covers wells fargo, but the thinking is they're moving in the right direction and if you're looking for the value bank that's moving in the right direction, that's where you get large cap people drawn to. a little less toward citigroup but at the end of the day, i think they'll get things working at wells fargo it's more a matter of when as opposed to if. >> quick final word, does it matter or what would you say about the near-term market impact of the hawkish versus dovish hike tomorrow >> i think we'll hear 25 percent basis hike and they'll be leaving their options open and that would generally be good for the market it's interesting the futures market has had six or seven hikes now, but in my conversations investors are more in the three or four hike camp so any indication they give the hike

jpmorgan raising its price targets to 288 from 255. crowdstrike right now is at 193.stock right now. it's getting clobbered, down 20%. the teddy bear maker says a surgery of covid cases in january led concern surge of covid cases led to shortages in its stores. however, it did say it expects first quarter 2022 revenue to exceed the year-ago period. stock is up 125% over the past year. so perspective. >>> prices for groceries tough to find perspective there. theorizing rapidly along with inflation not seen in 40 years. we are going to speak with grocery store ceo stew leonard jr. about what he's doing specifically proactively to keep costs low for his customers as he shoulders higher prices. closing bell, 29 minutes away. the dow down 163, s&p losing 25, the nasdaq lower by 135. "the claman countdown" coming right back, don't go away. ♪ ♪ (vo) for me, one of the best things about life is that we keep moving forward. we discover exciting new technologies. redefine who we are and how we want to lead our lives. basically, choose what we want our future to look like. so wh

and finally for europe, both jpmorgan and baric-- jpmorgan zo for euro area growth this quarter, butsay russian growth will drop by 15%. double the drop in the great financial crisis in russia >> that's a huge hit what about the ruble it's continuing to fall before our eyes >> yeah. free fall here for sure. what you see here is a quote right now of 146, but i'm seeing actual quotes out there quite a bit. what's interesting about the trade today, if you look at the line, look to the left and see the other days and the declines that happened during the day that would appear to indicate from my old days in russia, the central bank, perhaps, coming in but that straight up line today tells me maybe they didn't right now it looks like maybe they did 134 it dropped too hard to know. it looks like overall the russian central bank is allowing the ruble to fall and we don't know what would happen if the russian stock market opened creating that massive demand that would happen for russian -- for u.s. dollars once the russian stock market opens it is still closed >> great point steve, thank you

as for the dow, the biggest drag, home depot, jpmorgan, and nike biggest outperformers, amgen and visabuzzing about today? kohl's again the retailer send agletter to shareholders today pushing back on activist investor mckellen's campaign to elect new members the board. in the letter, they said the criticisms of the retailer are ill-informed and it's pushing for the sale of kol's at any price. earlier this month, kohl's confirmed it had received multiple preliminary offers from parties interested in buying the company. i spoke with the ceo of kohl's about all of this. my big takeaway, the company is really serious about exploring these buy-out offers there was skepticism whether kohl's was really exploring a sale or going through the motion, but the process i'm told is rigorous and moving along it's now at the stage with the bidding parties have been asked to improve their overall bids. i'm told the bidders do have access to manager and data from the company. the financial committee of the board, which does have one of mikellm's own nominees on it from its last night is doing the work,

i read jpmorgan taking job applications you don't need a vaccination.ing story there, isn't it? >> it sure is. i will vote with jpmorgan on this. we know from rigorous statistical analysis lockdowns don't work. masks, 50-50. vaccines we'll we're not sure but they have been a pretty big disappointment but we know lockdowns don't work. in fact if lockdowns did work why is china having this outbreak of cases that is taking it back right where it was two years ago? so we're, we're just going to have to live with this thing and jpmorgan realizes that and good on them. charles: before i let you go i'm asking all the guests, will we be able to skirt a recession or is it inevitable? >> oh, well, we, the united states? we're definitely going to skirt a recession. europe on the other hand, lucky if they don't have a depression. if they keep of the natural gas and oil flowing it will merely be a recession there. unfortunately we have to share the global economy with them, so it might dent our otherwise stellar growth prospects a little bit but recession here, nope

. >> nobody cares about jpmorgan >> i'll give it to you a little love. >> you got it, baby, i've gotme downtown, too, i'd like you to be a part of. >> it's going to happen. it's going to happen now >> can you set it up >> i'm going to set it up right now. >> we'll get kcramer's mad dash, countdown to the opening bell just about eight minutes away. don't go away. ( ♪♪ ) i call it the wheel. okay. this is a miss. edison, can i be honest with you? i-i-i-it stinks. (speaking japanese) like i was saying, it's ftx. it's a safe and easy way to get into crypto. ehhh, i don't think so. and i'm never wrong about this stuff. never. >>> we've been talking all morning about these headlines on the tape about what appears to have been a constructive round of cease fire talks in turkey. oil, as we mentioned, flirting with double-digits and the vix below 19 for the first time really since january st mens mi uincongp ju aomt. i am here because they revolutionized immunotherapy. i am here because they saw how cancer adapts to different oxygen levels and starved it. i am here because they switched off e

let's start, anna, with what jpmorgan is saying. we could be looking at more than a default. we could be looking at depression, economic depression in russia. >> in terms of default, that is no, sir surprise but also the fact russia pants to see that being drawn up. it has financial connections with the world. yes, we're looking at a diver sauce of the ruble, that will make imports and everyday life, just the general products and services that you expect to be able to use, apple pay, being able to buy nike shoes, connections with the west are being severed. you have big shipping giants who say they will no longer take any cargo that isn't food, medicine or humanitarian aid. that will impact imports. >> bring that graphic up again. the corporate squeeze of how much that will impact russia. also i know that oil and gas isn't sanctioned, anna, but already we're seeing a lot of companies, all companies leaving, reconsidering whether they do any investment in russia at this point. >> exactly. that list is getting longer and longer. some of the first are the energy companies, bp, s

i think that there's people who are always -- this is jpmorgan says production will be boosted of theear from calhoun. if i hear from calhoun, dave has my number. just give me a jingle. i'm right here >> we'll see what boeing does. a rough day yesterday. jim, nike is going to lead us at the open >> nike is so great. >> along with a bunch of the banks. >> with the rates. >> yeah, b of a has a good note today saying bank earnings were closely correlated to the yield curve, but not so much since the early 2000s. >> well, stiefel financial, stocks are up in large part because they're completely levered. it's a great opportunity bank of america is the one that's most closely correlated don't forget wells fargo charlie has been so under the radar screen, drives me crazy. charlie's got a great story to tell raised the dividend. came back from the abyss citi, i don't know citi, no one seems to understand why citi can sell at such a big discount to book goldman sachs, obviously upset their stock is as low as it is morgan stanley always feels like, are you kidding me why are he with lumped in w

it doesn't make sense you should be owning jpmorgan if you think they are involved with europe. >> right europe, not russia because they're really not citi is the only financial institution that has any real exposure in terms of russia. >> mastercard or visa. >> okay. sorry. because there are 18 million credit cards and about 250 million debit cards, both those companies have said yet basically they're not going to let the russians kick them around you know, it's one by one we're seeing who is with putin and who's not. i need to see italy because italy is probably the most aligned with russia. >> the sanctions are as deep and powerful as any that have ever -- >> i've never seen anything like this. >> -- been imposed even in the course of a handful of days they've gone from what seems to be fairly strict, to incredibly. it is choking the russian economy. but it is also going to have an inflationary impact, this horrible incursion wheat obviously is up. ukraine is a huge producer of wheat, aluminum is up, i believe. >> right. >> don't forget titanium where russia controls, what, 55% of the

jpmorgan chase has reportedly processed funds from russia to cover a bond interest payment. moscow seeks to avoid the first bond default in a century. according to bloomberg, jpm, the bank russia used sent the payment to citigroup acting as the payment agent. bond holders of the russian department said they had not seen any signs of the late last night. paypal says they will be able to send known ukrainians in the nation and those who fled in other parts of europe and the world. previously people in ukraine were able to use the platform to send money outside of the nation >>> back to the markets here and what is a solid week around the fed's much anticipated liftoff on rates the next guest is bringing in names on opportunity friday here on "worldwide exchange." that is jeff kilburg chief investment officer at investment wealth. jeff, good to see you on this friday early morning you have been hot and heavy in the dividends. deep value stocks. are you sticking by the strategy or does this change your mind in how to invest right now? >> sully, i'm constructive we have the fed m

that includes jpmorgan and citigroup.will let you know. we'll be looking at bank stocks. we'll be looking how energy stocks are responding to the runup with oil again, now up over $100 a barrel. meantime how would you like to be a russian-american, russian decent where the environment is not all that great? karol markowitz, "new york post" great writer, family lives in ukraine and russia. karol has vetsed interest they're not all evil. that is kind of a unique position to be in. what is your family saying, feeling? you tell me. >> i have family still in russia and in ukraine. my family in ukraine left a few weeks ago. it is all women that were left there. they left a few weeks ago for germany. so they're out. but yeah, it is a really complicated time for a lot of people. i grew up in what is called the russian community in brooklyn but we weren't russian. most were jews, which in russia we were never considered russia, in ukraine we were never considered ukrainian. we were a jewish community from the former soviet republi

elizabeth: jpmorgan chase jamie dimon telling the white house create a marshall plan for more u.s. about energy security. jamie dimon stepping up. "axios" found out. los angeles the first major city in the u.s. to hit an average gas price of $6 or more. hillary vaughn is in d.c. with more on this debate. hillary. reporter: good evening, liz, some democrats are using the crisis of high gas prices to their political advantage. headed into the midterms democrats want to use spiking prices at pump to push people to go green. in a memo from a democratic polling group advising democrats ahead of 2022 saying this, it is essential for democrats and clean energy advocates be on the offensive addressing voter concerns about gas prices both by fixing blame where it belongs and offering a clear path forward to voters. the memo telling dems to accuse oil companies of price gouging and making the case for expanding clean energy alternatives. it appears some democrats got the memo. >> and they set the price with what they think they can get. and that is called price gouging. >> big oil ceos are o

gets a major down graid by jpmorgan is this delisting worries or is covid the new scare? >>> emerging markets down nearly 15% on average as the dollar and oil prices have spiked but there are some bright spots. we'll look at who they are and why. first, though, let's get to dom with the latest market numbers >>> we've lost some steam. much more so than we did earlier on so far. if you look right now at the markets, it's mixed. it was solidly green earlier today. but the dow industrials are up 100 points right now it doesn't seem bad, but at the highs we were up 451 points. at the lows we were up roughly 29 we're tilting more toward the lower end of the trading range so far today it has been an outperformer all day. the s&p 500, 4181 the last trade. down 22 points half of one percent. 4181 down 230 points now for the nasdaq composite off nearly 2 % we'll continue to watch that underperformance in the trade come out one of the key parts is what's happening in the macro environment. if you look at some of the trades that we are watching closely, take a look at things like sa

that's the call from jpmorgan chief who says the u.s. now needs to help wean europe from russian oil. this as president biden is headed to brussels to meet with nato allies. we'll look at if something like that is already in the works >>> expect the number of evs to double to nearly 1 million units this year. we'll ask if the charging infrastructure is ready to keep up with demand first, let's get to dom with the markets. >> it's red, not markedly so, but still significant. kelly, two years ago on this day, do you know what it was you do i know you do. she's just joshing with us here. two days ago today it was the pandemic low for the stock market because back then the s&p 500 on an intraday basis, march 23rd, 2020, hit a low of 2191 or there abouts let's go the quick and dirty math more than a doubling from where we were at the pandemic lows so 4484 the last trade there down one-half of one percent fractional declines. off about 1%, 322 points and the nasdaq composite just down about .2 down 27 points we'll see whether or not that inter

we are talking goldman sachs and jpmorgan. >> two more names to the exodus.eir business in russia. goldman was first winding down in compliance with regulatory and licensing requirements. what they are doing here is helping global clients close out of the market and trying to ensure the well-being of 80 employees. jpmorgan said it was winding down in compliance with directives from around the world. global sanctions making it difficult to operate in russia. it is not just banks, putin's war in ukraine pushing western companies out of sector. decree cite solidarity with ukraine, difficulty doing business, or worry about the safety of their employees. manufacturers, shippers, and of course oil companies. the biden administration has directly sanctioned russian fossil fuel. they abandoned joint ventures. they closed stores, offices. now russia could seize those abandoned assets. putin on thursday said he backs the plan to introduce external management they call it of foreign companies leaving russia. nationalization. the russian prime minister said legislation h

part of the mayor's welcome back plan with top companies including bank of america, salesforce, jpmorgan and chase. the plan aims to revive the financial district civic center and particularly downtown coffee shops and lunch spots that have suffered in the last two years. >>> more than 6 million worldwide have now died of covid according to johns hopkins university. the milestone comes four months after the world reached 5 million deaths. the u.s. reported the highest number of deaths and nearly 960,000 with experts saying the u.s. may be in for a near- normal spring and summer. >>> you no longer have to mask up in facilities in hayward if fully vaccinated. officials say those not vaccinated against covid-19 are required to wear masks inside city run facilities. the vallejo city hall is back open, closed in january due to the omicron surge. the city council will welcome people back to in-person meetings with masks no longer required but they are strongly recommended. >>> san francisco wants to keep jfk drive and golden gate closed to cars, permanently. the closures started as a measure t

that's at jpmorgan the firm says its valuation looks increasingly full.ll of the day jason, you own it. what do you think about this >> yeah, yeah, so, obviously, chevron has had a tremendous year, up 45%, year-to-date it's really played into the supply/demand story early part of this year energy, period, is up 40%. they've really done a great job of cost containment, capital zp zp discipline with some volatility in the energy space, i could see that happening in the next couple of weeks for us as a firm and in looking to trim it but it's got the greatest -- it's got the best balance sheet in the industry, so for us, you know, it's been a market wait hold for us. i still like it. >> so, steph, it's your largest position, at least it was. the stock's had great one. six months, it's up, it's up 50. is the valuation just too rich >> this analyst had a neutral on it all the way up. it will go from a neutral to sell he missed it i get it, though, it's up 45%, but still yields a 3.3% yield. it's a juggernaut, scott it's kind of -- it's a powerhouse chevron and

still, worrying about windmills. >> power was not yesterday fixed. >> jpmorgan analyst. he continues to be negative. >> he's a smart guy. he says he has even higher conviction, that the company is not doing well using well below numbers, and, david, this is my favorite minus 25% from where he's trading. >> and, by the way -- starting to look better now. >> what are you doing? >> i've got a label. >> don't do that. >> what is this? >> it's an interesting example, though, as well of companies willing to do shareholders it's a nonbinding resolution. >> it was a slap, david. >> we'll get back to you after the break. >> would you this i about your mad dash, please >> i'm going to try to game it will you stop it mi no, i think we know what's cong up. take a look at the futures a lot more "squawk on the street" after this you can't buy love. happiness. or confidence. but you can invest in them. at t. rowe price our strategic investing approach can help you build the future you imagine. ♪ ♪ >>> let's get to the mad dash. >> i am fortunate enough to which privy to the actual game

charles: luke, you like jpmorgan as well? >> yeah.stricting banks from buying back their stock in 2021 and 2021. now in 2022 banks are unleashing cash to buy back their stock and increase their dividend. i like jpmorgan, even more than that i like regional banks like pnc. higher interest rates means higher net margins for these financial companies which takes a couple quarters to get reflected in the earnings. once it starts to get reflected i think you will see people flock to financials which will push up stocks even more. charles: david, i want to ask you about the housing market. we've been getting pretty ugly numbers there. homebuilders are falling apart. do you think the housing boom, is that over? >> there is a supply issue here. when you look at the housing sector, the market is punishing some of the housing names as if there will be a market housing crash around the corner. i disagree with that. charms, some names down 25s 30% for the year. we're actually looking to put money into work in some of these names. mth, hmo, they'r

the top money men and women at banks like jpmorgan chase and goldman sachs raked in bonuses as high as 15 million. the larger than expected pay outs will boost new york city's tax intake but noted other sectors of the economy are still lagging. >>> ceos of the largest airline are his asking biden administration to drop federal mask mandate on airplanes as well as predeparture testing requirement for international travelers. the cdc extended mass transit mask mandate until mid april. that's your cbs money watch report. head to cbsmoneywatch.com. i am diane king hall. >>> quarter to 5:00. march madness is in the air in san francisco. sweet 16 tipping off today at chase center. tickets are selling fast and they're certainly not selling cheap. andrea nakano explains why fans are so interested in one game in particular. >> reporter: chase center has gone through quite a transformation in the last three days. we got a peek inside as crews set the stage for a very special event. this was after the warriors loss to the spurs sunday. this is what it looked like wednesday night as crews put fini

we're interested in making sure we're investing in a stronger consumer so financials are good and jpmorgan is the name we're suggesting >> let's highlight you're investing in a stronger consumer in an environment where we're talking about $130 oil why doesn't that phase you more? >> well, you pointed out that actually the real cost of commodities for consumers is actually not at a terrifically high level to the point for me, i've been a fixed investor for a long time i look at the balance sheet and the consumer balance sheet looks good it's corporate and government balance sheets that are more challenged the consumer is entering the slowdown in a good place >> chris, do you want to respond especially as it relates to whether there are parts of the stock market that would do pretty well in this environment? >> you have to have a quality bias not invest in high leverage, lower quality companies. we think if we get out of this stagflation geo political risk, that we're in, that regional banks and banks can do well. we're go back to the environment we were in a few weeks ago i agree with the p

and b & g foods have the highest earning risk also, conagra and kellogg are facing headwinds, and jpmorgan says hershey and coca-cola are best bgzed because of limited exposure to the commodities that have jumped. the markets and the fed, stocks hitting session lows after jay powell said the central bank is open to hiking by more than 25 basis points at a time if appropriate to combat inflation. joining us for our top panel, paul mccally and liz ann sonders. chief investment strategist at charles schwab do you think chair powell is prepping the market for a 50-basis point hike, a double, which might come as a surprise >> yes, i think he is. essentially, the day he sang the same hymn he did last week, but he said it with more feeling he really was saying today that the fed's mission is to deal with inflation, and he's going to do whatever it takes, and he's not worried about really buckling the economy short term, so he sent a message, get ready. >> so liz ann, is the market going to be okay with it or not? last week it seemed okay with that message today, not so much >> also last week, the

. >> so basically, jpmorgan analysts marked the bottom when they called the stocks uninvestable, whattesla, tesla shares at the top of the s&p 500 today the company officially beginning deliveries at its giga factory in germany they expect the plant to eventually produce up to half a million cars a year. let's bring in jed dorshimer jed, with tesla up 8% right now, talk about the financial implications does it drag on profitability in the near term? how are you looking at the new gigafactory? >> yeah, thanks for having me. so let's just take a step back for a second i'm down here in houston at this power electronics conference, so the guts that go into these teslas and i'm doing this interview on an iphone. when i focused on the cell phones, most pundits said never imagine i would be able to do what i'm doing today with you here on an iphone back in 2002 so i think the context of what tesla is doing is we have to look at it through the eyes of a manufacturing juggernaut, that we have not seen since henry ford with assembly lines changed and created the automotive industry that we know

>> jpmorgan longer-term, $40 a share from recent highs.arnings, over a 3%, it is phenomenal. then you've got to look at apollo which is a sister to our favorite blackstone company. apollo will have a 5% evident yield, down $20 a share from its fourth-quarter high. stuart: give me one more. metlife, you are looking at that one. >> metlife has dipped recently. obviously a well-known insurance company. people don't like the yield curve planning for metlife but it is priced in and over a 3% dividend yields, so metlife has come down a little. the energy stuff has gone up, financials of come down, sometimes you want to buy a weakness. >> if it does as well for me is blackstone did. >> a little lower expectations than that. stuart: see you again soon. what is moving, continental resources is moving. >> the mail companies are not surging. except for continentals they are a record highs. we don't know any big player because of what we are seeing in russia but the path has been cleared. these stocks are at highs. zoom video can occasionally down 7%,

we always think about the so-called diamond bottom when jamie dimon went out and bought jpmorgan shares when jpm was at about book value, just at a slight discount as a matter of fact. right now it's at about one natch times. i -- one and a half times. it had gotten expensive enough that it doesn't seem as if you're talking about real cheap pockets just yet. >> david did ask jane frazier, 75% of the book value, yeah, at citi which is also up today along with the other banks it's not had a particularly good move since the company's investor day last week some investors saying you're taking too long to get to your target of, what, 10 to 12% rotc, others saying they still think it's not reachable over time, you know, we'll be monitoring that and checking in hopefully over time as well with the efforts being made there at citi but especially given their place as the global bank, at least here in the u.s. sort of with the most outreach and the most exposure to russia, those shares have suffered more than the overall group. >> that said we do have a handful of bullish calls this morning, ever

jpmorgan will ask if it's coming its way.bond deal they did for warner discovery. $30 billion. largest actually ever done at that level of the investment grade with that credit rating. and they got it done easily. there was over $100 billion. at least peaked demand at over $100 billion, i'm told, by those who constructed the deal we don't need to go through the different parts. some interesting parts, though, the long end of the curve they actually did better in a way than they perhaps anticipated. one would imagine given inflation and everything else you might see more of an effect on the short end it was not the case. i'm told they could have gone up perhaps another $10 billion in amount, if they wanted to, without affecting rate significantly so that does give you a sense as to the health of the corporate bond market right now. this is the low end of investment grade companies will be four and a half times levered but there's an expectations it's going to delever very quickly of course, this is being taken on in parts of p

. >> jpmorgan did say is it a peak a glimpse at what the playbook might look if you get a short term cease-fire? >> it's a quick rush toward the cyclical stocks. not about the defensive leadership that has taken hold that was working in the fleeting rally yesterday. i think that the market, in general, you kind of can talk about it as being in the support zone 4100 on the s&p and at the low end up to 43 the market has to move pretty far distances to find anybody with conviction interday i think that's the lesson. that's to the good in terms of an attempt oil retreating on what seemed like continued bullish headlines. meaning the u.s./russia oil ban. that's a piece of the puzzle the high purburden of proof. if we continue to roll downhill, even if it's a bear phase unfolding with, it never goes down in a straight line. at the low end we're down 15%, you know, in a couple of months. >> bottom in are in the volatility i don't know what the numbers were yesterday i saw see some had seven interday reversals it's more than we had in the entire year of 2017. >> i was trying to figure it out

refusing to supply russia with airplane oamerica's ggest bas are leaving russ goldman sachs and jpmorgan are among the 330 companies to suspend operations because of the war. mcdonald's is one of them. long lines are forming at some russian locations before they close. abc's james longman is in moscow. >> reporter: it's so hard to say because here in moscow you just get the sense people have just been trying to get on with their lives so far but more and more you feel a shift. we've been here a month now and i have to say things have started to feel different. there are fewer people in cafes and restaurants. they're just trying not to spend money. there is a creeping realization that 30 years of progress may be about to end. >>> today another move aimed at isolating russia. the u.s. and its allies are expected to revoke russia's favored nation trading status. >>> now to the rising cost of gas and what's to blame. last night president biden addressed the democratic national convention saying he's taking steps to address what he's called putin's price hikes at the pump. it comes amid anoth

we know grozny -- >> jpmorgan said add to risk medium term. why not start doing it now. >> that's a great question the vast majority of our viewers, if they bought nike at 115 and it goes to 100, you know what they say? don't worry, it's the medium term, no, they say those two knuckle heads -- >> don't include me in this. >> all right, this knuckle head decided to stick his neck out. i need a catalyst just because a stock is going down, does not mean it's time to go up. i have marvel on this name >> yes. >> right now better than even the previous quarter, right now we're talking about subsequent gains. >> but don't you think therefore that reflects the broad sense of negative sentiment right now >> i like marvel and i think it should be bought >> you do? >> yes this quarter is better than last quarter. i'm looking for earnings to be better for some companies. nike's earnings aren't better, for heavens sake they're worse, once they're worse and everyone knows it and there's hope they might get better that's medium term. >> what is it going to t

jpmorgan cuts numbers across the auto sector. >> it's just tough the auto sector nobody has any if you speak to -- you know, if you speak to the countries that are involved in advertising, it's like why should ford advertise if ford doesn't have any cars i mean, why. there's no reason. to stimulate the brand there's no inventory and a lot of this, by the way, you know, jonas, i love to quote because he writes -- >> yes sometimes he writes down -- >> yeah. jonas whatever comes to his mind i love that. that steam consciousless writing is great it's like virginia wolf. that's rarely the linked but, you know, he's saying that the cost of batteries in china driving up tesla jpmorgan's argument is less about supply but about higher energy prices, lower consumer confidence, demand destruction. >> right. >> in turn it would make them bring their estimates down it's not sticker shock anymore sticker is not right it's the surtax. >> the msrp. it's being ignored. >> right i think the guy at the link. philadelphia i parked my car. he said can i buy your car why? he said i think i can double the pr

just doesn't >> i will add jpmorgan is looking at lead types which they say are not perfect and it's ex-china for sure, but they are on the lookout for shipment expectations that need to be reined in. >> if it's $2 million versus say what katie huberty is talking about. if they start charging a subscription, you'll be getting more from this, and you'll be paying more, and remember, there's no bad dad here. everybody pays i mean, i use a credit card all the time i would like to have a bundle. i had to change my password, i've been hacked a couple of times. and i just realized how much i rely and pay these guys the way i used to pay american express that's how much i use it. >> didn't buffett call it one of the biggest values in the world, a thousand bucks to basically run your life. >> you know, it's usually your guest. >> not usually my guest. i do enjoy having michael on when we can fget him, yeah. >> he's pointed out everything's giving away the high end phone, it's a thousand dollars, and you can't beat it. if you want an apple phone, you go to t-mobile which has like the best cov

but then you also look at some of the big banks like jpmorgan and goldman sachs they don't have a toof exposure to region but they are looking to wind down their presence they have a little bit of credit exposure and they're going to either wind that down or take right down on that business. >> ouch. so what's the end game here? does mcdonald's never walk back into those stores? does starbucks close permanently from russia. how does that work? >> so this week, i mean, obviously, tensions have been rising. so you even have putin in the kremlin saying that they would potentially to nationalize some of these businesses that have exited so, i mean, that's just, you know, end game completely. but even return to that call maybe more normal times is tough to imagine that happening without there being regime change in russia. >> is certainly is. so jack let's pivot to amazon, the stock split 20 times you have one share, you now have 20. the actual value of amazon did not change one bit. and yet, stocks shell higher. >> yeah it raises the question, if a dumb investment strategy makes money, i

in, over 330 multinational companies have paused operations in russia, including western union, jpmorgan, and goldman sachs, the largest u.s. bank to do so. disney, our parent company, also pausing all business in russia, including content and product licensing, disney cruise line activities, and national geographic magazine and tours. their employees in the country now facing uncertainty. mcdonald's and pepsico each employ over 60,000. ikea's 15,000 workers in both belarus and russia also impacted. >> this is the biggest mall in st. petersburg, the most famous one. >> reporter: stores shuttered as sanctions bite. at other locations, long lines of customers trying to get in one last purchase. "it's sad that so many world brands are suspending their work in russia. and it's too bad that so many people will be out of their jobs." and tonight, russia's financial crisis is being felt outside its borders. russians trying to use their credit cards abroad have also reported problems, because of sanctions and bans. and how do people feel here, david? well, it's so hard to say, because more and m

this was a trade barry diller stepson, alex and david geffen all acquired options purchased through jpmorgan they bought the right to buy about four million shares and all of this happened just a few days before microsoft and activision announced their intent to tie up >> you did talk to diller. he did say simply a lucky bet. we acted on no information of any kind from anyone it's one of those coincidences what is the general sense about how important this feels to the regulators and whether or not it's important relative to the other issues they have going on right now. when they are made aware of trades that at least on paper look suspicious or they have questions about, they're always going to investigate. >> i assume the three gentlemen have a money manager who are making trades on their behalf. any indication of whether there's any anything there have you looked into that route? is it possible they used the same one >> we don't have all the information yet. that's a question the doj would ask. we don't know how actively this trade was placed >> everybody knew there was action around act

fict third, keycorp, bank of america and jpmorgan and then a check on the most popular tickers searchedession. i would point out the ten-year full-day yield returns to the top spot and wti crude remains in the top five it ooh te it's the most searched ticker. amazon one of the top ten. rivian automotive, tesla, and docusign also in the top ten, as always, guys, the top ten, top 50 on my twitter fe feed @thedomino. >>> the united states relies almost entirely on force suppliers for the fuel that feeds our nuclear power plant. that include 20s% coming from russia in a new op-ed he said that's a big risk for our energy independence let's welcome in ed mcginnis he's now the ceo of curio, a new innovation and technology development company. thank you for being here, ed this is not something people think about too frequently we say all the time we want-mile-an-hour endefense and want american independence just as germany would like. you point out you can't get the fuel for any of those things from here in america or in germany too. >> in fact, we do rely 20% of our lurk tristy in this country

looking at 3m not doing anything jpmorgan, banks not doing anything for a while the only thing on the upside is defensive stocks what's moving in consumer discretionary group are two stocks 50 stocks that are consumer discretionary group and top two $3 trillion in market cap if they're up the whole sector is up tesla of course on talks of a dividend to do the splits in the form of a dividend amazon having a nice day finally point out, everybody, three days left in the first quarter. down 4%. a remarkable run considering the problems the market is dealing with >> absolutely. thank you. bond market, the losses have probably been larger year to date let's get to rick santelli with the latest rick >> only losses if you're positioned for yields to go down if you're positioned to go up they are not losses but kelly is right. aggressive selling every maturity from 2s to 30s made a new cycle intraday high 30-year by a whisker 2.64 look at an intra of 2s 2.41% after a crummy auction 2s, 3, 5s higher on yield. look at a 2-day of 10s up to 2.55% before revesing. but here's an interesting chart.

dani: jamie dimon, ceo, jpmorgan chase speaking to bloomberg on russian sanctions and the swift messagingm. let's stay on sanctions, russia has banned its residents as putin seeks countermeasures over sanctions. joining us now is gavin proudley , head of third party risk proposition, dow jones. thank you for joining us. you were discussing this unprecedented scale of sanctions. if you are a corporation right now, and you are looking at unknowingly you are affected by sanctions, how hard is it to figure this picture out now? have us an idea of your conversations with clients. gavin: i will answer that straightaway, but before i do, i want to thank you for this opportunity. this crisis shows the importance of independent journalism, so thank you, bloomberg for getting the facts out. large organizations have never faced such a swift change of sanctions in which they are operating. 26 more people were added by the eu. there is a total of nearly 700 entities or individuals sanction so far. a company doing business in russia or with russian entities is looking at his portfolio across its value

other forms of investment the top ten buyback spenders from 2010 to 2019, apple, oracle, microsoft, jpmorgan chase and ibm and cisco and pfizer and bank of america the study published last may that study found these companies are spending an increased share of profits on stock buybacks apple, for example, spent 76% of income on buybacks in the first two years, s&p 500 companies spent $238 billion of stock buyback. huge component goldman sachs predicts this could reach a record of $1 trillion by the end of 2022. perhaps more importantly, as part of the studies, if you look at it, the amount of buybacks and amount of selling, executive selling, that happens into the buybacks they are trying to deiscourage executive selling. if you are tim cook, that is fine you have a blackout period now of three years from the end of the buyback period >> most of the companies are on rolling buyback. >> that is what is very interesting. how you do it. when you look at what is happening and statistically impe imperically, ceos are buying five times the amount for the companies not participating in the buybacks

everybody here thinks jpmorgan is a french bank that's what happened in 2011 they're not. what happens all of these -- and i'm going talk about chernobyl when we get a chance there's a moment where you just say everybody is guilty. everybody is connected >> we're going to talk about the differences, though, between the u.s. and europe today. and dollar/euro. first, we'll go to amin for more on the conflict. >> reporter: good morning. in the last hour jen to then berg said the military alliance is not planning to put boots on the ground or airplanes in the sky in ukraine, despite the horrific situations we've seen unfolding there. here is what he said. >> -- by shooting down russian planes we can understand the desperation but also believe that if we did that, we'll end up with something that -- full-fledged war in europe and many more countries. >> reporter: those comments coming despite the pictures coming out of ukraine. russian forces attacking and shelling the largest nuclear powerplant in ukraine. it appeared to be showing tracer fire as round after round impacted bui

jpmorgan morgan stanley, goldman sachs. exposed banks had a rough time in addition to those things mentioned, this idea, well, we have this friction in the global financial system is there going to be some kind of accident out there? what it's about. so far haven't seen one. >> the market got excited about rate hikes. >> yes. >> or not excited. come back a little bit. >> trading like a super regional than a super bank. less than a minute to the closing beg almost 4-1 year-to-date, dividend stocks doll well relative to the overall market why? a lot of it is, four times the rating of the financials and energy, and getting paid and going up there, the vix relaxing. still above 30 high-stress readings in internals of the market, people positioned wore volatility, and going out, 2% gain in the s&p 500. looks like finishing right around friday's high in the s&p. nasdaq lagging slightly north of 2000, up 2.5% at the close. [ applause ] [ closing >> nice rally. welcome back to "closing bell. coming up this hour, council of economic

. >> other companies like salesforce, bank of america, jpmorgan chase have started bringing employees back. welcome back. >>> still ahead on kpix5 and streaming on cbs news bay area. >> a northern california woman arrested more than five years after her mysterious alleged abduction. why she is now facing charges. >>> no relief in sight at the pump. ways drivers can save on gas as prices continue to climb. gianna. >>> as we take hosp us l look at how powerful is an invisalign smile? so powerful you can face anything... ...even these faces. invis is a powerful thing. invis is the clear aligner brand most trusted by doctors and more predictable. invisalign. reynolds wrap makes this whole cooking and cleanup thing so easy. it speeds up this... so i can get to them. easy prep, cook and clea with reynolds wrap. >>> a northern california case that grabbed headlines five years ago is back in the spotlight. federal authorities arrested a woman of redding on charges she lied about being kidnapped and tortured. 39, she went missing while jogging in november. three weeks later she showed up bruis

a software tool and founded by two women who left their jobs at jpmorgan chase. >> we wanted to bill tuild the innovation we wanted to create the future we saw this smartest people in the space moving to crypto and metaverse and we wanted to do that >> reporter: reardon and her partner are in the minority of female entrepreneurs they are living in a start-up house in l.a they raise 2% of all capital dollars. the odds are stacked against them perhaps the trends of the past few years will start to change those numbers. >>> thanks to julia boorstin for that report. coming up on "worldwide exchange." more on the real estate market and where we are headed and rare good news on inflation canadian pacific rail and the union have come to agreement the mini strike could have setoff another round of inflation over the snarled supply chain worse employees are back on the job today. good news. especially if you are a farmer d rtize ry a lot of agricultur anfeiler we're back after this. ♪♪ i'm using xfinity xfi's powerful, reliable connection to stream “conference calls” on every one of these dev