jpmorgan reporting profit dexlin in first quarter earnings this morning. decline driven by increased cost for bad loans and impact from the war in ukraine stock down 3.4%. bank sector taking a hit on the back of those earnings results tomorrow more earnings from citi, goldman sachs, morgan stanley and wells fargo. joining us now, david ellison, and from capital markets, another guest as well. seeing reaction in jpm shares deteriorate what are you hearing? what are biggest concerns? >> sara, i think number one issue here with jpmorgan chase is their capital levels. as you saw there, cet-1 ratio, common equity, regulatory capital ratio fell to about 11.9% from 13.1% the reason it fell, they had to mark down securities and available for sale portfolio and also increased risks in trading and counterparting losses. i think that's a real issue for many investors, because they announced authorization for $30 billion share buyback but may be limited bawd of where the capital is today. >> the question, how much bad news is already in the stock down now almost 20% f

that disappointment jpmorgan earnings, in the rear view mirror top banking analysts dick bove is here live to look at tomorrow's slew of bank earnings and why bank investors expecting financial stocks to so ar because interest rates are rising about to take a punch to the ego and the portfolio. russia claiming at this hour, it now has full control of mariupol 's trade seaport. the mayor says 10,000 ukrainian citizens are now dead, a number that could rise to 20,000. as this blood shed continues ukraine's president ready to make a trade with russia's leader. one imprisoned oligarch for ukrainian boys and girls in russian captivity. what is the true value of the billionaire oligarch friends of putin and is the western push to freeze their assets going to stop this war? putin enemy number one,hermitage capital ceo bill b rowder was hot on the money trail, which leads to the spanish coast and right here in united states. his new book "freezing order" already number two on amazon's best seller list. we've got him live here and did covid officially kill trading on the new york stock exchang

-- jpmorgan sell off. >> pete's been talking about goldman sachs for a while. i heard him on the halftime overtime and here on fm talking about it -- mike mayo talked about how he prefers main street banking over wall street banking. >> that's interest ing. i look at goldman sachs, because of the fact they're less of a bank, we put it in that category, everything's a bank. it's a financial i think they've got their own issues that they have got to deal with but quite honestly i think goldman sachs could have prize people we'll see tomorrow after earnings the reality is 52-week lows is one thing, that's really meaningless to be honest it's more about what guy talked about tangible book, it was just 1 the other day, maybe it's 1.1 now something like that. meanwhile i look at jamie dimon everyone's puzzled why jpmorgan is falling after being up there at 160, 165, it just got too expensive and i agree with guy, it's still expensive i'm looking at it whether 1.8 or 2-point tangible book, either way it's a very expensive play given what they reported on. we knew some

the direct impact i think is modest jpmorgan took 524 million. not a big number for them.rite downs from credit spreads and exposures. other counter parties, what does it mean for europe second or third level impacts. most exposed at the banks. it is not a whole lot and interesting to see what they do today as far as marks go but looking at capital from jpmorgan today the capital ratio took a hit and not looking bad and need plenty of room for buybacks. we'll have to see how it plays out. >> you said a nonsurprises is deal revenue not particularly good we had no reason to believe it would be but turning to thursday and goldman sachs and morgan stanley, will that fact, the fact that deals have not been all that robust this past quarter, will that affect them more >> relatively speaking it is a bigger part of their business but the investment banking we knew would be challenged m&a, equity underwriting and debt challenged but for more began stanley and gold marn the good news is trading is better than expected. year over year declines is half of what we were fearful that wou

financials lower today wells fargo and jpmorgan among the biggest losers the losses may widen, lossesn the down side sector let's bring in girardard, great to have you with us. a lot of the banks have disclosed their russian exposure we know jpmorgan was counterparty to the big nickel trade gone wrong by the chinese tycoon so what more has not been disclosed. i would think the banks would close the b's at least. >> you're right, and thank you for having me on the show. i would add it was the volatility in the first quarter in fixed income particularly government bonds rating as well as commodities, we don't know the full extent, we will tomorrow when jpmorgan announces its numbers. we also have to remember this counterparty risk. there could be smaller company or trading firms that may have had trouble that haven't been announced. about but you did announce the big one, jpmorgan is the big risk there. >> let's talk about the two numbers most important in my view, net interest margin 1.67 the biggie to me what you're willing to pay as a multiple tangible book at $72.5 i think the low e

it's the perfect antidote to jpmorgan all right. right now is it time to search for stocks that can work long-term regardless of whether the best of times or the worst of times or both on "mad" tonight our growth at a reasonable price series continues, and i'm dinging into the semiconductor stocks to see if any pose a good value >>> then could today's average be a sane of what's to come? i'm going off the charts to the nasdaq 100 to see if tech could be ready to rally. and with our response to the covid pandemic continuing to evolve, i'm learning more about what's working and what's not with dr. topol so stay with cramer. >>> don't miss a second of "mad money" follow @jimcramer on twitter. have a question? tweet cramer, #madtweets send jim an email to ma madmoney@cnbc.com. miss something head to madmoney.cnbc.com. hybrid work is here. it's there. it's everywhere. but for someone to be able to work from here, there has to be someone here making sure everything is safe. secure. consistent. so log in from here. or here. assured that so

maria: jpmorgan delta reporting earnings an hour ago jpmorgan missed earnings per share but beat on revenuepos, et cetera, jpmorgan shares this morning at low of the morning it is down 3%, 127.55, delta airlines double beat on eps and revenue blackrock reported double beat this morning to look at delta airlines stock up 6 1/4%, also, waiting on banks tomorrow, where citigroup wells fargo morgan stanley and goldman sachs will report first quarter tomorrow morning we will have that for you, meanwhile, let's get into jp quarter cal markets gerard cassidy with me, dagen mcdowell, mitch roschelle, gerard thanks very much joining the conversation could appreciate your sprooez you have been following jpmorgan a long time know the team better than anybody tell us your reduction to this quarter what is going on at the largest banks. >> thank you for having me you are right, you look at core businesses jpmorgan, particularly on consumer, commercial side numbers are actually in line slightly better than expected where company ran into trouble in corporate and investment bank as you pointed out numbers

. >>> jpmorgan named a top pick into earnings. day liz, you've been bullish on the financials for a while do you remain so today >> i do remain so, but you have to be specific about it. the reason i've been bullish on financials, obviously there was a yield curve play maybe last year. that hasn't necessarily held up the way we expected. but the reason to be bullish now is that if we are moving to later in the cycle, and we have rising rates, consumers start to borrow money differently you want the financials that are exposed to that. exposed to things like personal loans, credit cards, auto loans. the things consumers are still going to spend money with, but banks are going to make more money as rates rise. >> i know josh brown owns jpmorgan he's not here. target gets cut, steve, to 169 from 170 and then there's mike out today who trims the price targets of morgan stanley and jpmorgan. you remember what happened last time three months ago when jpmorgan reported its earnings right, steve >> yep yep. look, last three months have not

you said something other than jpmorgan. >> whoa, whoa. >> well, okay.n for this coming quarter is bank of america i totally agree with jeff, the bar is getting lower and lower we've had this -- there seems to be this thought that the two year ten-year spread is indicative of how bank earnings will do and that's not true. if you look at 10k they tell you how we'll doe if rates move this or that way. you look at bank of america 10k it says if rates, the front end goes up, curve flattens, short end they'll make $4.9 billion extra in net interest income and long end lose 735. net net $4.25 billion extra. not only does not hurt it helps. so i think the bar is lower. that's good. i think net interest income will be better than people fear jpmorgan, goldman sachs, they have more exposure to the deal-making business versus last year at this time is not bad but last year was ridiculously hot so bank of america is also the most u.s.-centric. i like it for that reason as well we won't see any european contagion there. and the valuation. so at 12 times earnings not

jpmorgan, wells fargo, morgan stanley.f you look at the banks that they are drags on the market right now in terms of revenue and earnings jpmorgan has not been the superstar it once was. >> i know. it's so surprising down 15% on the year this is getting close. i don't own it yet because it trades about 1.5 times book. this stock traded closer to two times book but we'll talk about the other names that are more attractive the key is expenses because they did increase expense guide for 2022 last quarter and what is the return on tangible equity figure long term they have a goal of 17%. they have an analyst day in may and the rotce but i think you will have puts and takes volatility helps trade jg the volatility probably eating into m&a fees so watch for this one. if it pulls back it could be attractive long term. >> would wells and morgan stanley to be more attractive here >> i own them and i think they are more attractive. they make good progress. these guys have the most exposure to higher or lower interest rates an incre

, and basically any unknowns that could come from q-1 results. >> todd, the setup seems good for jpmorganown so much going into earnings >> yeah. we hold it we've reduced our holdings, and i'm looking to add back on i haven't given up on it as leslie said, the trading will be certainly important across the three asset classes. then you look at equity trading. that's key and also look at the investment banking side it was tech valuations have come in the ipo business will probably come under pressure as well and obviously commodity exposed with russia j.p. has a great history of beating earnings i think 17 of the last 20 quarters were a beat they're fairly priced. as i said, i hold it in our portfolio. we started about 2.75 in we cut it down to 1% if we could hold 132, 130, i would be looking to add, and actually, despite what you said, j.p. has fallen out of favor, but in the last couple weeks we're seeing outperformance in s&p compared to the -- s&p com j.p compared to peers. they have to thread the needle on this report there's a lot of factors at work >> next up delta airlines. rebound

but i would say for each jpmorgan and morgan stanley, there's a little extra the big news for jpmorganvinced on the direction the company is taking but not the details and jamie dimon doesn't disappoint he says change or die. and they're changing it's kind of jamie dimon against the world. he's talking about competition, not just from banks but from non-banks, neobanks, and shadow banks which are twice as large as the u.s. banks. remember, these are all nonregulated competitors, so jpmorgan is spending, buying, and paying whatever it takes to compete on all events. they say they want to be an international digital consumer bank on defense, they say they want to make the ship tip top shape, unquote, but they'll still have likely the greatest expense increase in history, so the devil is in the details. so we need more information. revenues, returns, and key performance indicators for all this spending. we have one of the low estimates on the street for the year for jpmorgan, and for morgan stanley, the transformation with their deals, e trade, the engagement has fallen off and with the b

jpmorgan down more than 3% about 3.3% currently guys >> we know this.re guess we don't want to hear from jamie dimon. i don't like -- obviously i mentioned it if the russians -- we're glib. if we say it could be contained. and i guess i i'm so used to jamie dimon being more confident, david i could see how someone might say, wow, i can get another. >> he's being realistic. you don't know. >> yeah. but they're not selling citi that hard. goldman is up. >> yeah. >> i mean, the average person is not saying what david solomon is worth. they're saying solomon is taking care of it that's why i sat down with him he's waiting for volatility. getting it. >> i don't know. >> yeah. that's where it coming from. the environment of raising rates is an opportunity. more than it is a challenge. >> yes thank you. leslie picker watching the banks. do you think mathematically jpmorgan sets up the banks this quarter or not >> i think if you're solomon, if you're brian moynihan you realize what you shouldn't say you say it's uncertain times but we got your back we'll have r

street journal at large great thank you so much for joining >> "barron's roundtable" sponsored by jpmorgan asset management. jack: welcome to "barron's roundtable" where we get behind the headlines and prepare you for the week ahead. a new proposal could keep struggling homeowners from foreclosure. fed president parker will tell us about it and how the fed plans to engineer a soft landing. how a rise in smash and grab retail theft is affecting the economy. we begin with the three most important things investors should be thinking about right now. a volatile week, bond yield surge to the highest level since 2019. the world's richest man, elon musk, in hp. whose who lead should you follow? jetblue ada surprising bid for spirit airlines plus one airline stocks that might be a lot. so, been, it was quite a week. seemed like the market was ignoring stuff the federal reserve was saying. don't they know what is coming? the bond market certainly took notice and then in the stock market we saw a divergence that suggests stock investors are repositioning their portfolio. >> the entire market finishe

with more in-depth interviews right here on the wall street >> "barron's roundtable" sponsored by jpmorgan asset management. jack: welcome to "barron's roundtable" where we get behind the headlines and prepare you for the week ahead. inflation remains at a 40 year high. i am asking jared bernstein how long it could last and what the chances are of recession at facebook parent company meta, is mark zuckerberg's meta verse dream becoming a nightmare? what we think are the 3 most important things investors ought to be thinking about. stocks were hammered as investors worry about rising interest rate. bullish money managers have turned cautious. netflix stock plummeted on reported last 200,000 subscribers last quarter. what it means for the streaming industry and investors and elon musk had a nice week, tell earnings soared and he has funding to buy twitter. what that means and what happens next. on "barron's roundtable," ben levinsohn, carleton english and jack hough. you made an interesting comment as we watched stocks plummet on friday and i want you to expand on it. you said the economies

that's really what everyone is to focussed on next week we'll start with jpmorgan.ou think it's a buy everyone loves this one, even though it is down 20% the past three months >> yeah. you know, the banks have all gotten hit really hard i think the outlook around these recession fears, the concern around inflation, the fed raising rates and even the potential for those rate hikes to cause an inversion in the yield curve. none of that looks great for banks, obviously however, jpmorgan is a company that has shown that it can execute, and it got a double whammy in terms of getting hit not only with all the fears i just talked about, but also because they announced op exspending everyone is nervous and a bank announces operations expenditures they're concerned they're not going to be able to execute. this bank has a track record on that execution we think it's a really good deal >> it's traded poorly since the earnings announcement, and maybe this one will turn things around we'll see. the flip side is citi group which you're mourning. this is your bail today. not a big

jpmorgan says among gets favorites are see jen and bio american pharmaceuticals. jack: cheap stock sounds like better the colonoscopy. how to invest for inflation and own stock in companies with pricing power. that is next. to help prevent bleeding gums, try saying hello gumwash with parodontax active gum health. it kills 99% of plaque bacteria and forms an antibacterial shield. try parodontax active gum health mouthwash. ♪ ♪ we believe there's an innovator in all of us. ♪ that's why we build technology that makes it possible for every business... and every person... to come to the table and do more incredible things. new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria. visit indeed.com/hire and get started today. jack: we -- when and why you speaks, everyone listens. we wanted to know more. joining me now, school of business finance professor aswath damodaren. thanks for coming on the show. apprecia

vincent juvyns, global market strategist at jpmorgan.oming up on the show, president biden biden accuses into of committing genocide in ukraine and his condemnation on russia's invasion. -- putin of committing genocide in ukraine and his condemnation of russia's invasion. more on that next. this is bloomberg. ♪ tom: welcome back to the european market open. let's focus on the latest from the war in ukraine. u.s. president joe biden has accused russia of committing genocide in ukraine. this marks an escalation than his condemnation of moscow's invasion. we are joined by roz matheson. what is the significance of the use of the word genocide? >> the u.s. president has already called the russian president a war criminal. genocide is a much broader designation. it represents how russia is targeting a wide number of people in ukraine under broader jurisdiction in international action for court. this could step off a whole series of events if it is legally defined as genocide. and this is also a push for the u.s. to send have your weapons, offe

jpmorgan says among gets favorites are see jen and bio american pharmaceuticals. jack: cheap stock sounds like better the colonoscopy. how to invest for inflation and own stock in companies with pricing power. that is next. ♪ ♪ we believe there's an innovator in all of us. ♪ that's why we build technology that makes it possible for every business... and every person... to come to the table and do more incredible things. you know liberty mutual customizes your car insurance, so you only pay for what you need? oh, like how i customized this scarf? wow, first time? check out this backpack i made for marco. oh yeah? well, check out this tux. oh, nice. that'll go perfect with these. dude... those are so fire. [whines] only pay for what you need. ♪liberty. liberty. liberty. liberty.♪ this is koli. my foster fail (laughs). when i first started fostering koli i had been giving him kibble. it never looked or felt like real food. but with the farmer's dog you can see the pieces of turkey. it smells like actual food. i saw a difference almost overnight. healthy poops, health

jpmorgan says among gets favorites are see jen and bio american pharmaceuticals. jack: cheap stock sounds like better the colonoscopy. how to invest for inflation and own stock in companies with pricing power. that is next. trelegy for copd. ♪ birds flyin' high ♪ ♪ you know how i feel ♪ (coughing) ♪ breeze driftin' on by ♪ ♪ you know how i feel ♪ copd may have gotten you here, but you decide what's next. start a new day with trelegy. ♪ ...feelin' good ♪ no once-daily copd medicine has the power to treat copd in as many ways as trelegy. with three medicines in one inhaler, trelegy helps people breathe easier and improves lung function. it also helps prevent future flare-ups. trelegy won't replace a rescue inhaler for sudden breathing problems. tell your doctor if you have a heart condition or high blood pressure before taking it. do not take trelegy more than prescribed. trelegy may increase your risk of thrush, pneumonia, and osteoporosis. call your doctor if worsened breathing, chest pain, mouth or tongue swelling, problems urinating, vision changes, or eye pain

thank you indeed to will be back next week with more >> "barron's roundtable" sponsored by jpmorgan asset management. jack: welcome to "barron's roundtable" where we get behind the headlines and prepare you for the week ahead. with inflation at a 40 your high interest rate hikes ahead is it safe to invest in bonds? black rock's rick reeder on where to put your money. elon musk sold 8 billion worth of tesla shares after making a deal to buy twitter. should tesla investors worry? we begin with the three most important things investors ought to be thinking about. it was a volatile week for the market as april came to us legal yearnings couldn't save the market and the rate hike is expected next week. big misses for big tech earnings, apple beat expectations across the board but it is expecting supply chain issues to continue. cruz cruise stocks below pre-pandemic levels but consumers are starting to travel again. on "barron's roundtable," ben levinsohn, you said the only thing that could save the market would be of tech earnings came in strong, they didn't. >> ugly doesn't begin to describe

i appreciate your advice and guidance we've picked out jpmorgan chase. >> jpmorgan has the balance sheet, they have a 3% yield. but i will tell you, my charitable trust vastly prefers both wells fargo and morgan stanley. i think both of those are ones you should consider. and i will talk about them at the cnbc investing club event, because they're two big positions, giving out more than $570,000 this year at the charitable trust regardless of what next week brings, i think wall street will be in good news/bad news mode tonight, can the blue owl stock provide some gains and the dream for many is to own a sports team. what if you can own a piece of the action and we're headed into prop season i'm learning more about that fintech leader, broad ridge, that is giving you a voice that you want to use. so stay with cramer. >> don't miss a second of "mad money. follow @jimcramer on tweeter tweet him, #madtweets. send jim an email to madmon madmoney@cnbc.com. or call at 1-800-743-cnbc. [sound of helicopter blades] ugh... they found me. ♪ ♪ nice suits, you guys blend right in. the world needs you

all this after jpmorgan chase reported yesterday and beating many and spooking some others.ling for a slowdown ahead what to watch today? we have ken leon with cfra ken, markets, rates, war, what are the one or two key things that you are watching for the most today >> it is really management worry about run away inflation and geopolitical risk. that sets up the conversation related to the consumer for loans and what ceos think about raising money for m&a or investment ultimately if we are getting a shift back to a higher credit risk exposure. all three of these are being affected as you said, brian, because of the macro back drop >> you heard jamie dimon comments the numbers for jpmorgan chase, ken, the numbers seemed okay not great. okay writedowns reporting on to russia jamie is more vocal than other ceos of the other companies. do you expect these numbers to be good and maybe ceos coming out and putting up a warning flare? >> we are not firing on all cylinders as we did in 2021. obviously the most glaring is the capital markets. the consumer is the one. we are instead of

this was a new one for jpmorgan chase. >> let's talk about the macro take away, leslie. 44 pages goodar it all day here on cnbc it sounded like he was cautious. would you summarize and you don't have to speak for jamie. would you summarize it as worry? he is nervous about it his job is to be nervous he is on a macro level, he seemed pessimistic >> i would agree with that his comments echo what we have seen over last few weeks larry fink or howard marks and now jamie dimon. companies need to rethink the supply chains and alliance do you want exposure in the supply chain with the nation that doesn't agree with the v values of the american way first with the pandemic and now the geopolitical situation it gets complicated when you start doing business with countries that may not have the same ideals as we have here. we've been doing that for decades. it has been fine you start to hear the drum beat from leaders saying it is time to rethink that. for better or worse, that would be inflationary aspect decoupling of the supply chain >> we talked about it. we need new housing in america we co

minutes away first we start with jpmorgan mixing apple from its focus list setting slow downs in consumer spending an the economy, apple closing lower for the third day in a row next telling employees to be careful. netflix did recoup much of the losses and morningstar, ark innovation to a negative but down 30% this year so are these headlines warning signs of a tech slow down? this as we approach earnings season just weeks away, grasso, what do you say? >> i think apple, whenever someone makes a comment about apple they want to be provocative. apple is the safest bet in an unsafe world so when you want to be in the market but you fear that the end of the world is coming, you probably -- people are going to go into their coffins holding apple. right. they'll be in a pine box and there's going to be apple stock certificate on their chest. i wouldn't agree with that one. ark we said before, this is massively high multiple names that maybe the end is coming for them. but doesn't mean the end is coming for the overall market netflix i don't know if it was expense account for the lunch billups

this morning he was read i in january on his system -- i think it was a competitor's system -- that jpmorgan was talking about $100 billion. this isn't shocking to the market steve liesman yet was quite contingentened looking for $100 million, but we're at 246 at -- we're at 262 -- excuse me -- 259 at tens, 262 in 30s were at 2509 we have steepened the yield curve 10s to 2s by about one basis point, so pretty much it is not moving as aggressively as many feared yesterday. think about what they're saying. they're going to cap it at $95 billion -- i'm not saying if i agree or disagree, but many thought they would be coming into a much larger potential number the reality is it look lie fed funds future are 225 to 255, total tightening that's where we should end up at the end of this year of course, we're debating how to supply that up, but i think the market is speaking volumes, that lives no big surprise here, but the fed continues to communicate what it thinking it's going to do in the months ahead >> rick, thank you for that. the market speaking volumes there. what about in terms of stocks?

we saw bank of america and jpmorgan both of them are struggling with rising labor costs and adoption of russian trade. they're struggling with the fin techs taking business from them, and then you have the mortgage levels rising nature that business is going away j jpmorgan has an increase on costs from last year of -- on a percentage basis of 1 .3 one out of three there's a huge increase, and then bank of america also has a 25% increase from last year's sgna cost. we see sgna costs rising significantly. to me that's a big concern >> 33% and 25% increases are massive. and it has been a sore point mr. smith, i'll give you the last word. >> yeah. i'd say look at history. if rates are going to continue to go up, financials make more money. all the calls you're referring to, you're looking in the rear-view mirror and not ahead of you if you're looking ahead you want to go with the banks >> i agree with that, and financial institutions are usually able to pass along rate increases, costs associated with rate increases to their customers, but to me what's going on now with inflation and ho

i know you hate jpmorgan and i love jamie dimon but that's beside the point, they're asset sensitive and will make more with rates going up, even with the curve as it is now. i'm long going in. >> in that chair letter, jamie dimon pointed out a risk to the market will move faster. guy, how do you make sense of the mixed messages some sectors are already deep into bear market territory and felt the pain, the ark names, and others are close to all-time high and we have a sell off in bonds and stocks. >> i agree with karen about monolith except i don't know what monolith means so that becoming problematic for me. in terms of the fed, tim said it should be a bumper sticker, more fed means more volatility but the market doesn't seem to cares in the last month. you don't think it fully understands or comprehensives what's really going on here. if by definition fighting the fed when fed is easing liquidit than you're bearish, that's fine but effectively fighting the fed now means you're bullish i'm surprised how high we got in nasdaq and s&p i'm not trying to be to pok liptic but i don't th

. >>> lastly jpmorgan held its 8th annual retail round up conference where they host executives froms of retailers. tonight we're checking in with if host of that event. welcome back to "mad money." >> thanks for having me back perhaps wall street is more gloomy about the consumer than the reality. >> i think you nailed it the over arching theme was a resilient consumer you couldn't miss it i would say it's a balanced tone what's interesting is this resilient consumer matches our chase consumer proprietary data. march for the consumer spending was up 8%. that's 100 basis points better than february. that's double the pace of pre-pandemic spending. now you're seeing shifting you are seeing a consumer on occasion return to work you're seeing home and more larger ticket furniture. there are shifts in the underlying consumer but the macro is strong. it's led by employment wages are consumer consume err resiliency was the m of the game with nearly 20 companies attending and others we have spoken to across the space. >> give us a sense of who is taking advantage of the situation and really

take care. >> jamie baker with jpmorgan >>> shares of disney down 40 % from the highs and they're back to october of 2020 levels. now a slowdown in streaming is being added to the list of worryings including being stripped of the special tax status in florida. >>> as we head to break, a look at the dow r verizon, caterpillar and nike the worst performers back in a moment like jack. he wanted a streamlined version he could access anywhere, no download necessary. and kim. she wanted to execute a pre-set trade strategy in seconds. so we gave 'em thinkorswim® web. because platforms this innovative aren't just made for traders -they're made by them. thinkorswim® by td ameritrade >>> welcome back to exchain. dow is down 618. at the lows we were down 656 about 1.8 % declines across the board. third straight week of losses for the s&p and nasdaq every sector in the red with health care the worst performer. hca is the biggest laggard in the s&p today. second one from the top after an earnings miss and disappointing guidance universal health down more than 11 % we'll have more on this whole sell

citi an bank of america slightly lower with morgan and jpmorgan chase slightly higher.names on the screen he is picking one he thinks has the best advantage to cash out on your portfolio. the portfolio manager of clearbridge. we've got about $190.7 billion in assets under management. and you, you say it is bank of america. that is a buffett favorite too. tell me why you like it. >> yes, i think overall banks have come in a lot lately which we think is providing attractive entry point. we're constructive on the banks for a couple of reasons. first of all interest rates as we all see are rising. we think that bank of america is the best positioned of all the banks to benefit from that. it has the most leverage to rising rates. that is a big positive. we'll see increase as year goes on. from a risk perspective, from a credit perspective, bank of america, many banks are well-run we think bank of america is most conservatively run of all of them. from a business perspective has lowest risk. slightly less than 2 1/2% yield, 10 or 11 times earnings with very strong balance she

lauren: they sell cars 1.5%, jpmorgan downgraded them to neutral.l the most since 1969 but they are expensive and new cars coming to market. if you have a choice of two expensive cars, one result, one was new, which one would you pick? of a new one. stuart: wouldn't be a difficult choice. inflation running up levels we haven't seen since the early 80s. some economists think recession is coming. let's go to edward lawrence at the white house. is anybody going to get hurt from this inflation? >> looks like it might persist if you believe what some economists are saying as you look at the data behind what they are saying. the number of inflation have not gone in the right direction. the cpi inflation, highest level since 1981. part of the reason is producer price index, hit an all-time record high since 2010. 11. 2% year over % year-over-year represents an increase from last month's number, to get the materials to make the stuff they sell. we've not seen the peak of inflation yet. costs get passed on to customers. president biden saying other countries

jpmorgan announced it's building the new headquarters in midtown.prepandemic or post pandemic as a way to come inside the office >> monsters. remember they used to be called the goldman muppets. >> monsters inc. >> we'll talk more with mohammed el area. ian. elon musk is usually more flame thrower. >> there he is with his flame thrower. that's a bad look for the kids. >> once a time in hollywood that thing came in handy. what kind of changes would he make a debate you don't want to mis sy ned.s. >> susan atkins got a taste of that flame flower. you're watching squauks on csquu on cnbc. ♪ ♪ wow, we're crunching tons of polygons here! what's going on? where's regina? hi, i'm ladonna. i invest in invesco qqq, a fund that gives me access to the nasdaq-100 innovations, like real time cgi. okay... yeah... oh. don't worry i got it! become an agent of innovation with invesco qqq >>> welcome back to "squawk box. nasdaq off by 83 points. s&p 500 off by 15 points let's show you cryptocurrencies. they're on sale this morning, depending on how you view these thi

jpmorgan and wells fargo are much bigger banks than axos.t of an obscure bank. it was founded only in 2000 and it was founded as you mentioned as an online-only bank. their assets are about 15 billion. jpmorgan is 3 trillion. so we're talking a very small bank. it's located in san diego and las vegas. so it's the left coast, the west coast. so what is also different about this bank is some of the loans that it has chosen to make. we reported about a year and a half ago in the height of covid about this bank was teaming up with some very high-cost lenders who are not banks but who loan to small businesses and charge them really astronomical rates of interest. and it had made it extremely difficult for these small business people to continue operating. and so that was one element of this bank's business that other banks just won't touch. the bank also does business with foreign nationals. and it also has offered a type of loan that allows people who are paying 100% cash for a property to immediately turn around and borrow to cash out some of t

jpmorgan chase and goldman are two different banks.street corner. >> very different. we talked about the trading relationships with the spreads interestingly enough, you mentioned the ten-year long bond the yield on the ten-year treasury note is inversely correlated with the big banks. while we have a positive trading relationship, banks go as the yield spread with the yield on the ten-year, it seems to not have as much as an impact on the other big banks. it is a relationship we will keep an eye on the folks are doing an interesting job with trading relationships. brian, back to you. >> they do a great job dom chu, have a great day and great weekend. >>> also happening now starbucks facing another unionization vote as the fight with the company and workers heats up kristina partsinevelos is back with that. >> reporter: the workers at the second starbucks in seattle have joined the unionization. the employees voting 38-27 to make the move. starbucks will respect the process and bargain in good faith hoping the union does the same this

ashley: you like jpmorgan. jpmorgan, very quickly, you like that? much. appreciate your time. let's begin with right aid. lauren: they are surging because they expect to lose left money. they gave right aid the kiss of death, one dollar price target, that is a good things surging. there defense company, they will raise to outperform, the price target $270. it was a political statement, bipartisan political support because the war in ukraine and the prospect for further aggression not only by russia but china and this analyst says that is amplified in the midterm election years, they expect more money for defense spending. a new high for united health, better than expected profits, raised the forecast for the are looking to cut cost by selling more virtual care plans because it is cheaper. stocks earlier had a high of 553. ashley: great stuff. thank you very much. the cdc extended the federal travel mask mandate until may 3rd despite scrapping title 42 for migrants. jason schaefer to joins me now. good morning. is the covid pandemic over or not? >> t

happening but a lot of the money of your banking with the big bang, we are talking bank of america jpmorgan chase. >> that level those are the largest fossil fuel projects funded. like the dakota access pipeline or offshore drilling or fracking bernie the practices we know are really destructive and a disaster from a climate perspective. if you switch instead to a union or communityng bank or black-owd bankly and there are so many different options all of the country. depends where you live. then you ensure your money is not funding those projects that moreover if others join you and leave that rankin tells the bank why you are leaving as you don't fuelto fund fossil projects that completely cuts off the funding for the fossil fuel industry and at the time when our leaders are doinghi enough to address climate change or the actions of fossil fuel industry it's an incredibly powerful thing. people will tell them why you are leaving because one of the most powerful things you can do and it's kind of a pain. it's like you did that one time and you switch torg something better and you don't hav

jpmorgan's rocky quarter profit down

beginning of earnings jpmorgan did not report well, and that stock really has not performed since.or no >> it's a tough quarter for the money at central banks i think you can own some financials, but they're not going to trade as a block. because there are very specific aspects of each of them that will either thrive or suffer in this environment and the money sent throughs are not the place to be right now. if you're looking for short-term performance, all you need to know the home builders hit a 52-week low yesterday. they're down to today. they're still down 30% year to date the fixed 30-year mortgage hit 5.25%. okay so we're going to have demand destruction in housing which is very important to all of the banks. the only question is how soon does it become apparent? how bad does it get before it subsides we know this we know it semi conductors look terrible. transports look terrible all the classic things that you would look at as indicative of where the economy is headed, so i just don't think that that's the area that you should really be focussed on i like alternative asset

. >>> jpmorgan kicking off earnings season tomorrow morning.er banks following on thursday investors will try to figure out if rising rates are helping the bank or if they will cause a recession that will hurt the banks. leslie picker joins us now with more leslie >> yeah, tyler, it's been a slippery slope this year bapg stocks reversing earlier gains and now in the red ahead of q1 earnings that kick off with jpmorgan tomorrow earlier this year, investors were piling into bank stocks on the prospect of rate hikes then, midquarter, sentiment shifted over concern the war in ukraine and supply chain issues would cause the fed to hike more than the market initially indicated. on average, according to a recent note, the largest banks outperformed the s&p on a market cap weighted basis by 1300 basis points through mid-february, and then underperformed by 1500 basis points through quarter end. higher rates serve as a tailwind to banks because they can charge more for loans than they pay out to depositors boosting their margins for loan making. but whe

week with more commentary on wall street journal at large >> "barron's roundtable" sponsored by jpmorgan asset management. ♪♪ jack: welcome to "barron's roundtable" where we get behind the headlines and prepare for the week ahead. the outlook for russia's war on ukraine and dangerous malware aimed at the us energy sector. the former head of cyber command admiral michael rogers. later socially responsible funds lagged the market amid inflation at the war in ukraine. is wall street rethinking renewables? we begin with the three most important things investors should be thinking about. elon musk's surprise bid for twitter centage and through the market but investors are skeptical a deal will get done. auto stocks trading like they are in recession. a good time to buy shares but a lousy time to buy a car. a mixed bag of earnings reports with big tanks -- banks, which ones might benefit. jack hough, as far as i can tell the only thing that happened last week was elon musk offering $54 and $0.20 a share for twitter. what is your take on this? jack: there were technically other stocks that drop

discovery's existing shareholder s own the remainder of the new company, and now jpmorgan analysts like the decision giving at&t the overweight rating, but again , what does this say on the first day of trade as wbd, warner brothers discovery, that now it's down more than 2%? you know, we had rich greenfield of lighthouse partners friday saying be careful with this one you gotta see how it plays out. let's take a look at shares of nvidia moving down 4.6% after a bear downgraded the chipmaker to neutral from outperform citing persons about order cancellation s driven by slow down in demand for pc's and a surplus in supply. wait, when did that happen? remember the chip shortage that's all we talked about now they are saying there's a surplus. we do have most of the chipmaker s down here chipmakers like amd, losing about 2.8% and you see marvel and monolithic power systems down 3% apiece. luck and coffee remember that name? now feeling lucky, with shares moving higher nearly 3%, shares are up after the company announced it is officially out of bankruptcy proceedings. the company's ceo says