jpmorgan, citi, an wells fargo reporting friday morning. so what do you make of this positive price action ahead of the results? not the best setup, karen. i know you don't love this kind of run-up in earnings. >> i don't, i don't, because the bar just gets higher and higher, and then it's harder to jump over the bar. if we look particularly at citi, which has had the strongest run, its price earnings turned higher. still, though, if you just came to it today, it is not expensive, and i think of the money-setter banks, and, of course, i love jpmorgan positioned there, but citi is more upside. it's still, even after this run, trading at this astounding discount of about 80% of tangible book value. and, you know, if you look at jpmorgan, it's trading at 2 -- >> 2.1, 2.2? >> a little higher maybe. yeah, around there. tangible book value. so i feel like this has the most tangible upside. but i feel they'll have pretty good capital markets and management. we'll see on the net interest margin. >> there's a belief amongst a lot of analysts that in

jpmorgan has gotten almost all the love.t week as well. that stock is down 14% since its mid-may highs. carter, what are the charts telling us? >> that's exactly right. let's look at them. four identical charts. down -- first chart has no lines, no drawings. second chart, just as you've said, tyler, the stock is down here 14%-plus just as it was about six months ago. let's put a channel in there and put this selloff into context. we're right down to the lower band of the channel. final chart of four. let's draw an arrow. my thinking is, the stock is going to bounce here off the lower band. i'm a buyer. >> you're a buyer here. all right. mike, we got -- we lost you there for a second, but now you are back. what's the trade on delta, sir? >> yeah, i mean, sort of the same thing applies here in some respects to what we had in the jpmorgan trade. number one, delta, i think, is the best operator within the space we've seen, obviously, a lot of sort of not-so-great news coming out of the airlines and actually manufacturers as well

jpmorgan, wells, citi kicking off earnings today. topping expectations with second-quarter beats. next week, of course, goldman, blackrock, b of a, morgan stanley. large cap bank and consumer analyst joins us with a buy on jpmorgan, wells, neutral on citi. happy friday, erica. good to see you. >> many friday. >> looking for narrative threads. is it about some of these numbers on ib revenue, is it about expense control? what are you looking at? >> so this is actually an extension of what you guys just talked about earlier in the segment in terms of what's happening with the market. these large caps have massively outperformed the regional banks to start the year. and so the bar for today was, you know, pretty high. so when you pair that with the excitement of a rate cut that was ignited yesterday which would be better for regionals than it is for the money centers, and then you saw, you know, wells fargo coming in at the -- the lower end of their guidance for noninterest income, jpmorgan numbers not going up, and citi having all this

for jpmorgan investment banking fees jumped to $2.4 billion.said may be attributable to some pull forward refinancings in the capital markets that took place in the first half of the year. citi was down 3% from last year while its markets had surprise growth to be the biggest market generator. now another snapshot, of course, of noninterest income when goldman reports on monday and tuesday with morgan stanley and bank of america stock. >> seema mody, nvidia gets some price target hikes. not much new on that end obviously, but it's enough to get the stock rebounding. >> it is, scott. the stock is moving here right around $130 a share following two more price target raises, this time from benchmark and oppenheimer. oppenheimer is pointing to second half tailwinds with nvidia's older chips, h 100. benchmark teams channel checks say demand is still outstripping supply despite new players. softbank purchasing ai startup graft corps. scale has been an issue for this startup. that's been the challenge for any company trying to rival nvidia. right now

the laggards, jpmorgan is a laggard. provisions for credit losses may be up, but overall, this stock has had a huge run going into earnings. it's up 21, 22% this year, outperforming the s&p 500. so bottom line, this is a modest pullback. amazon, maybe no surprise here. but i'm a little disappointed that there's not more of a follow through. nike and mcdomdnald's have been the poster childs for poor performance this year. so here's what matters right now. kelly had the right question, can the rotation continue? that's all that matters here. so remember, this tech rally we've been seeing is based on strong earnings growth from technology. tech earnings outperforms everybody else's earnings. we have told you the rate of change for these tech earnings growth is slowing. earnings are still going up, but the rate of change is going down. that's a warning sign for people that keep throwing money at nvidia. so can other sectors take up the slack? kelly, this is where i get concerned. mean reversion is very real out there, but ju

shares of jpmorgan hitting all-time highs today. banning up more than 20% so far this year, over 40% in the last 12 months. not the only big bank seeing strength today. goldman jumping 2.5%, closing within $10 of its record. bank of america touching its highest level in more than two years. but will these names climb even higher? and a lot of banks came out with statements relating to the stress test and dividends and et cetera, so -- >> yeah, i think they can, and you talked about the performance of jpmorgan. in the year of a.i., jpmorgan has outperformed the s&p by 14%. that's incredible. i realize maybe a perfect place to put your dots down on a chart, but i'm just going back a year and i'm thinking about the market we've had, and it's been in a market that i think at times people really have questioned where banks are positioned. so, i know going into earnings in ten days, i don't really want to see the banks reaccelerate, but that's exactly what they've done. they're going to have a nice jump into earnings, and i think we're go

we have new numbers from jpmorgan and wells and citi.ad to break, let's get a look at yesterday's winners and lo losers. >> announcer: executive edge is sponsored by at&t business. next level moments need the next level network. okay, team! oh, thank you so much i couldn't have done it without you. honestly, i don't do a whole lot here. i'm really just here for the at&t internet, it's super-fast so, any pre-launch concerns? what if nobody buys them? that's mean or, what if everybody buys them? oh, i hadn't thought of that that's probably not gonna happen can we handle that kind of traffic? the network can handle it! i downloaded eight hours of true crime stories just during our last video call i'm learning a lot >>> good morning. welcome back to "squawk box" live from the nasdaq market site in times square. now it's the dow's turn to shine as in previous sessions, we have seen the nasdaq and s&p outpacing the dow. nasdaq was down. it was 300 points. it was only 2%. it is still headed higher. a lot happening today though. >>> the june cpi

with the bank, jpmorgan chase, and top and bottom, stocks were initially getting hit. business certainly is good but we are not profiting off of it. we are beating expectations and a lot of these cases but it is as if the market wants more. can we keep up this momentum? that will be a big feature in a couple weeks. what do you make of how the market reacts to earnings in some cases that beat the odds. >> the market is not very forgiving at all. the volatility we are seeing, earnings can come out and beach guidance and earnings or the reaction to it. the way the market reacts to earnings is different. not like the old days. people would go along the stocks and earnings come out and go up a dollar. everyone would sell their position and move on to the next day. it's this wildness, when they don't like it, i think the old buy and hold institutions and hedge funds are trading of a market. they get in, get out and are not conscious of price. they will sell the stock down $30 or $40. when they want to buy them there is no end to the top. i say don't ever say the stock can't

. >> gerard, i'm a firm believer that jpmorgan always got the jamie dimon premium. so, you can -- you can push back on that if you'd like, but now when you're coming towards the end of his career, or, the final innings of his career, does that premium get pulled out? because jpmorgan has underperformed, not by a large margin, but it's definitely underperforming. is this premium coming out? >> steve, you make a great point. there is definitely a jamie dimon premium. i don't disagree with you. i think the relative underperformance over the recent term has more to do with the risk-on versus the risk-off strategy. if you really believe we are in a soft landing, fed's going to cut rates, to guy's point, about the provisions for loan losses. they start to stabilize or even may go down next year. then you want risk-on bank stocks rather than the risk-off name like jm morgejpmorgan. you lay that out with the premium, which i agree with, he definitely contributes to the stock. and the day he retires, the stock is going to trade down. he's got a very deep bench, highly qualif

the big behemoth, jpmorgan chase, up 20%. wide spread does that become in the difficult time for consumers as they continue to feel the brunt of the higher interest rates? that as well as citi's recovery, how much of that is still in place? is there one area which you can focus on for citi and see the consistent growth and think enough has pretty much been done to those snnumbers? overall, does that kickoff what we anticipate to see from the banking numbers? when you look at the valuations of the lenders, it really tells you how significant a move you are likely to get even as well from the banks and as we head to the next set of earnings, do those have enough legs and give off the sense that banking is, indeed, firmer? these are clearly a sense of what the economy then looks like. just to give you a clear sense of what is also to come, of course, this week then. we just heard from the likes of jpmorgan chase and citi and wells fargo. still looking out for the goldman sachs numbers. morgan stanley and bank of america also. th

i mean, yes, fortress balance sheet at jpmorgan.obody ever thinks they're going to make a big mistake. bet on the economy, i guess. >> the eight companies that are the largest who could go into the trillion dollar club, jpmorgan is a 580 unmillion. you get it to 600, maybe 700, but in the end, it's broadcom that's going to be next and broadcom and tesla are the two that will be the next trillionaires. >> yeah. we'll be watching for fdic chair confirmation hearings today for romero. visa/mastercard, 10% dlau d drawdowns this year. >> i can't believe that. i think michael at mastercard is masterful. i'm surprised at that. i want to take the other side of that trade. >> delta had decent numbers on amex renumeration, also bastion's comments about the guidance for the quarter, not the year, the quarter, is lar largely, in his view, about capacity where it's growing at 8% summer domestic whereas demand is up 4%. >> i think all of us got very complacent because we've been on planes that are completely full. obviously, we are not on the rou

jpmorgan isn't as much.t valuation, it's off today a little bit because it's overrun and has a valuation and they were relatively consistent with their guide. but it was still a solid quarter. >> there's not much to nitpick in jpmorgan or citi. i suppose people are pointing to the net interest income gap at wells fargo as the big problem there, which is why that stock is down as much as it is. z >> yeah. with wells fargo that's been a turn-around story. they've done a great job and really lowering expenses and buying the index stock and restructuring the company. today we had a little setback in kind of a recast of our expectations. they did disappoint on nii. it's interesting is they didn't change their full-year guide but moved closer to 9% relative to closer to down 7%. worse guide than what we were expecting. people are scratching their head because they're asset sensitive. rates, although we expect the fed to cut rates, for the bulk of the year they've been higher so that should be a tailwind for wells

i like the well diversified banks like jpmorgan., i would play it if it trades lower. >> to tim now with a couple of thoughts on johnson & johnson. >> well, i think in j&j's case, redemption may also be an appropriate word. this is a company that had the overhang of the talc litigation and you won't get answers on that on july 17th or next wednesday. you will get answers on that on the 26th, when the plaintiffs vote to decide whether they accept the offer from the company that could settle a significant amount of these claims. if you can remove that, you take it back to where we hear about earnings, we hear about the med tech business which is growing very well, their pharma pipeline around oncology has a series of events that are going to be treated very well by the analyst community. this is a sum of the parts that to me is significantly higher than where the shares trade. it is a stock on long, a stock that i think at some point needs to get out of jail because there is a lot of value there. >> all right. tim, thank you very much

let's bring in ubs us large cap banks analyst erica najarian, to find out why jpmorgan crushed it with the quarter they just reported. why do you think the stock is pulling back? >> so this really has to do with what dutch said earlier in that it's not really "personal" to jpmorgan. it has more to do with the broadening out of the market, so jpmorgan has been spoiling the market with increases in the outlook as we had gone through the year, and they had a pretty good quarter, but their outlook didn't change for the better so when you have a stock that is massively outperformed the rest of the banking group, it wasn't enough. it wasn't enough to push the stock higher, and so this really pairs with what happened yesterday in terms of the market solidifying a september cut, being live and that they're now rotating away from the safety play of the money center banks and into regional banks that could benefit more from a rate cut. liz: i noticed the regionals were looking pretty darn strong today. the fed funds future show a 94% odds of a rate cut. what will that mean when you start to look

jpmorgan chase and wells fargo and citi are reporting.vestors are looking for credit card delinquencies and real estate. the fdic says banks have had $517 billion in unrealized losses for over two years. regulators call that high. it could offset the weakness as dealmaking begins to come back. we have stephen biggar with more. >> good morning. >> let's start with the biggest metric for the banks. net interest income. the spread of what banks make on loans compared to deposits. i want to ask you as we see more people go to the high yielding products, how does that impact the metric? >> frank, we expect fairly loan growth this quarter compared to similar quarters as the elevated interest rates are higher and borrowing costs are reducing loan demand. that's not going to change, i don't think, until we get some lower rates here and meaningful lower rates. as you mentioned the net interest margins are still under a bit of pressure here as the consumers are shifting still somewhat to higher interest bearing deposit accounts from non-interest be

obviously a key metric for them. >> we expect it to be compressed just like citi and jpmorgan chase.see the funding on the banks and if your customers have a choice to be higher yielding options for cds or money markets, they will do so which increases the funding costs. it is showing up in the credit card business. the main side of the equation is under increased strain, frank. >> we are talking to a main street bank tomorrow. hugh son, thank you very much. your story is up on cnbc.com right now. >>> coming up on "worldwide exchange," a major deal is taking shape as alphabet is mulling one deal. we will have all of the details when we return. stay with us. [crowd chanting] they ignored your potential, and mocked your ambition. but it's not the critic who counts. with every swing and block, your game plan never changed. ♪♪ some still call it luck. let them. because you know what it's always been. inevitable. ♪♪ ♪♪ something amazing is happening here. retailers are moving inventory quickly and securely. that's because cdw designed and built a solution with cisco security. end to end p

constellation, looks like investors are listening to jpmorgan, stock is up one person.ewind to wednesday, constellation posted a top and bottom link for the quarter but stock dropped because investors were worried about the beer and wine business but according to jpmorgan the selloff was unjustified, they noted the reason would present a buying opportunity. a push to focus on more premium offerings, the growing hispanic population coming-of-age, this is home to corona. a lot of folks drinking that yesterday and they are looking at jpmorgan, stock is up 1%. i want to touch on neo. the cfo step down for personal reasons, stock is down 8. 5%. he will be succeeded by an insider, stanley has been with the company since october 2016 but the reality is the new cfo has to steer the company through troubled waters, the you but he did confirm the decision to hike tariffs on evs imported from china meeting neo may have to raise prices and that is not what you want to hear in the ev price war. ashley: stock is down 8. 5%,%, thank you very much. peter morici joins us now. good to ha

you on track when you're planning for it all the answer is jpmorgan wealth management? >> here's to. getting better with age. >> here's to beat least two every thursday helped fuel today with boost high-protein complete nutrition, you need without the stuff, you don't so years to now i, hanako montgomery in tokyo and this is cnn we have new reporting in to cnn this hour showing just how tense things have gotten between a defiant joe biden and key members of his party sources tell me that the president lashed out at congressman jason crow in a saturday call with house democrats that happened after the colorado a moderate relayed voters concerns about the president's vigor and strength, especially when it comes to the world stage, biden. i'm told, got so upset with cros blunt assessment that at one point he said, quote, cut that crap out and told crow he could walk away if he wants his my friends and colleagues are back here. just going to give you a little bit more of information from this call. some of it had been previously been reported, but i'm getting new details. l

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let's take a look at those scenarios jpmorgan wealth management has advisors and chase branches and tools like wealth plan to help keep you on track when you're planning for at all, the answer is jpmorgan wealth manager? >> if you have graves disease, gritty eyes could be more than a rough patch. people with graves could also get thyroid disease or ted, which may need a different dr. find a ted is specialist at is-it ted.com i'm dr. sanjay gupta in atlanta. >> this is cnn vice president kamala harris is rallying voters in greensboro, north carolina. that state is only voted democratic twice in the last 13 presidential elections. but president biden got really close to a win in 2020. let's break down where polling stands with cnn senior data reporter harry enten and harry, let's dig into north carolina and some other key states. yeah. you mentioned what carolina the democrats want to play their joe biden wants to play they're so north carolina is a sort of pinkish state, as i might put it, back in 2016, donald trump carried the state by four points over hillary clinton. you mentioned last

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. >>> and jpmorgan is reportedly rolling out home grown a.i. products to employees as an a.i.ased research analyst. the product jpmorgan called llm suite is currently in the hands of its asset and wealth management division helping with writing and idea generation and summarizing documents, frank. >> it is an interesting trend as we talk about the use cases for a.i. still haven't figured it out. still trying to figure it out and make the business interesting and impacting wall street. >> i'm sure there is more to come. >> silvana, thank you. >>> we turn to a news alert in the 2024 presidential race. former president barack obama and former first lady michelle obama giving endorsement to vice president kamala harris. he wat s waiting because he did not want to overshadow president biden's oval address. this comes about 100 days until the election. >>> we also have breaking news in paris. french authorities say several quote coordinated criminal and malicious acts happened overnight on a number of high-speed train lines and causing travel disruption ahead of the opening ceremony

and let's bring in jpmorgan strategist david kelly. great to have you with us.you think it's a bit ahead of the skis in terms of how many cuts we might get? >> not really. i mean i do accept the point that on a friday after the fourth of july don't necessarily trust what's going on in terms of trading. but overall, we think that things are setting up for two cuts this year. one in september, one in december. what we're seeing is the economy is cooling, but it's cooling slowly. that's very much the theme in this jobs report. i sort of echo what steve was saying about it. i think it's significant they downgraded payroll and job growth by 111,000 by the prior two months and drop in temporary workers. these are signs the economy is decelerating here. and we're also seeing signs, you know, despite a tight labor market, it's still tight with an unemployment rate of 4.5%, we're not seeing wage growth come out of that. so next big headline will be next week's cpi report. we think we're going to be down to 3.2% year over year number, and that should push the personal con

and president trump reportedly talking to jpmorgan chase ceo jamie dimon for treasury secretary.an hour before the trump shooting, president biden reportedly held a disastrous zoom call that rattled democrats. we've got the details. and now this, california democrat adam schiff says president biden should drop out, they're worried about a red republican tsunami taking over the house and senate this fall as well as the white house. coming up on "the evening edit." we'll be right back. ♪ did i read this? did i get eggs? where are my keys? memory and thinking issues keep piling up? it may be due to a buildup of amyloid plaques in the brain. visit morethannormalaging.com ♪ in any business, you ride the line between numbers and people. what's right for the business and what's best for everyone who depends on it. solving today's challenges while creating future opportunities. it takes balance. cla - cpas, consultants, and wealth advisors. we'll get you there. ♪ limu emu... ♪ and doug. (bell ringing) limu, someone needs to customize and save hundreds on car insurance with liberty mutual

that stock along with jpmorgan and the xlf hitting records today. blackrock closing slightly lower.look at the regionals. the kre up nearly 3% today, hiting its highest level since mid december. morgan stanley, bank of america reporting tomorrow. can the financials continue to climb? goldman sachs achieving their strategic initiatives. they're on track. >> they've made some mistakes. they're also trading at an all-time high, so, good for him. if you pull up a stock during his leadership, it's done extraordinarily well under that 5 1/2, now 6-year period of time. good for them, and i this i the stock continues to work in this environment. i'll say this quickly about bank of america, as it made a multiyear high today. it's getting towards price to book value that we haven't really seen in bac in quite some time now. america it deserves a higher multiple than citi, which it gets, but at some point, it's getting a little too expensive. personally, i think 42 nat1/2, i think it's gotten a little expensive. >> so, just to go to goldman sachs, we've seen a lot of good trading revenue, m&a,

jpmorgan reports friday morning. now this is a $597 billion situation. there is nothing in the $600 or $700 area. but it will be interesting to see this one go to a trillion. jpmorgan, the best bank sells for 12 times earnings, which is way too low. lower than the average stock in the s&p. if the feds starts cutting rates, then this could undergo huge expansion especially if the company puts on a huge set of numbers. and jpmorgan has a level of consistency that merits a much higher stock price. many thought the last quarter was weak and the stock just got clobbered. but it's come all the way back, clean, resilient, don't rule out a trillion dollars, but it will take a couple of years. however, if there is anything in the $500 billion level that could double and within a reason period of time, i bet it's walmart at $566 billion right now. the largest retailer is experiencing an amazing moment, pulling away from amazon and costco, which by the way just raised its membership fee tonight and keeps rewarding investing club members as we have owned it forever.

>> no, this is apropos of the jpmorgan. they're going out of trade, other than texas roadhouse and brinker. >> they're not eating french fries on the upper east side, carl, all those people going for their wegovy appointments on park avenue. >> wendy's, doing terribly. restaurant brand, doing okay. i still think mcdonald's is not crushing it. who has french fries? >> i have french fries. i think they're the greatest thing ever invented. >> mcdonald's is down 2%. >> along with milkshakes. >> well, i just -- >> almost back to the lows of the year. >> look, people aren't going out as much. i think that this is my new theory is that they have to cut the price of things. like, they have to cut the price of homes, the price of airline tickets, maybe the price of theme parks. everything got too much. >> it's actually -- >> customer's had it. >> good piece out of barclay's today, why the universal theme park weakness is not -- may not be reflective at disney, because the difference is in price and mix. >> we have to get hugh johnso

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big banks, jpmorgan, wells fargo, citigroup they're all expected to do fairly well.nt banks are the big winners. charles: go to lydia, she will get a more granular look for us. >> reporter: more what you're talking about. this is tough year for regional banks, differing from some larger banks. they started off here, similar path, but then the big banks really took off leaving the regional banks kind of in the dust here. we'll see soon whether big moves from the behemoths are justified, we start seeing earnings posted for many big banks, jpmorgan, wells fargo, citigroup coming tomorrow before the bell. it will give us a chance to see you who this environment, this higher for longer interest rate impacting the banking system. of course we'll look for signs how the consumer doing, are they under stress from the banking perspective. especially keep eye out for jpmorgan. they have been kind of an automatic money machine recently. i think you can call them that. look to last year, april, july of earnings, come out for the following day and week. we're well into the green f

jpmorgan wealth management has advisors and chase branches and tools like well-planned to help keep you on track when you're the moment i met him i knew he was my soulmate. "soulmates." soulmate! [giggles] why do you need me? [laughs sarcastically] but then we switched to t-mobile 5g home internet. and now his attention is spent elsewhere. but i'm thinking of her the whole time. that's so much worse. why is that thing in bed with you? this is where it gets the best signal from the cell tower! i've tried everywhere else in the house! there's always a new excuse. well if we got xfinity you wouldn't have to mess around with the connection. therapy's tough, huh? -mmm. it's like a lot about me. [laughs] a home router should never be a home wrecker. oo this is a good book title. a 700 credit score. join me at time.com. >> i'm melissa bell in paris and this is cnn tonight we have for you exclusive audio from a biden campaign meeting is alex thompson of axios obtained this recording. >> it sheds light on just how the campaign leadership is trying to recover from the fallout of president biden's

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economic club today as jpmorgan are jamie dimon has a new inflation warning, u.s. bank asset management group chief investment officer here we are talking stocks investing in macrostory more live coverage from the republican national convention in milwaukee don't miss that you are watching "mornings with maria" live on fox business this morning from milwaukee. . ♪ limu emu... ♪ and doug. (bell ringing) limu, someone needs to customize and save hundreds on car insurance with liberty mutual. let's fly! (inaudible sounds) chief! doug. (inaudible sounds) ooooo ah. (elevator doors opening) (inaudible sounds) i thought you were right behind me. only pay for what you need. ♪ liberty, liberty, liberty, ♪ ♪ liberty. ♪ did i read this? did i get eggs? where are my keys? memory and thinking issues keep piling up? it may be due to a buildup of amyloid plaques in the brain. visit morethannormalaging.com maria: we'll bell, take a look at futures this morning we are looking at a strong rally to start this week off, following the assassination attempt against former president trum

mind towards a down payment on a ranch in montana with horses let's take a look at those scenarios jpmorgan wealth management has advisers in chase branches and tools like wealth plan to help keep you on track when you're planning for it. >> all the answer is jpmorgan wealth management i got it. >> i got discover performance in rare form. that it but she's delayed get offers on selective sport models and the golden opportunity sales event i'm jonathan larson here to tell you about life insurance through the colonial penn program if your age 50 to 85 and looking to buy life insurance on a fixed budget. >> remember the three ps what are the three ps the three ps of life insurance on a fixed budget our price price, and price a price you can afford a price that can't increase and a price that fits your budget. >> i'm 54 what's my price you can get coverage for $9.95 a month. >> i'm 65 and take medications. what's my price? >> also? 995 a month i just turned 80. what's my price? >> 995 a month for you too. if you're as 50 to 85 called now about the number one most popular whole life insurance pl

when up has been around 25 years up 15, out of 25 years, up 1%, streaks we're up 10% room to run jpmorganst six earnings jamie dimon likes to be conservative with guidance always a storm brewing with jamie dimon watch jpmorgan, guidance citi wells fargo blackrock to next week when some other big ones goldman morgan report going to be fun to watch cheryl: fun to be, as person going to be breaking numbers for viewers an friday mike this is, mark tepper here last week made point under trump presidency financials energy sector are going to be big winks. >> i don't know about energy energy got smoked last trump administration ironic would by the opposite, where spectacular under biden administration but pro drilling, lowering price of oil not always the best for energy stocks. financials really interesting i was having a long conversation a few weeks ago trying to figure out why financials are showing up so well on my screens looking so he good i don't know what fundamentally has changed for them they are screaming i have overweight in my portfolios financials what do you think behind that. >>

maria: i think jpmorgan was up 6% going into quarter a valuation issue here to consider on many nameso connect with you thanks so much. >> maria i want to make one last point, if you look at small banks they have outperformed big since debate in a very big way driven by m&a expectations. >> i like it, any thoughts what small bank is getting acquired next year? >> well, i think there is a number of large targets tolerate, if you go with bigger banks more liquid first horizon, a possibility bank of america a rumored name for a what i am. >> we look at those good see you. thank you. >> is it pleasure. >> all right. anthone joining us our biggest announcement of the morning, moments away our fox business morning family is growing right back with details you are watching "mornings with maria" live on fox business. stay with us. . ♪ ♪ . [city noise] investment opportunities are everywhere you turn. do you charge forward? freeze in your tracks? (♪) or, let curiosity light the way. at t. rowe price, we're asking smart questions about opportunities like clean water. and how clean water advance

jpmorgan wealth management has advisors and chase branches and tools like wealth plan to help keep you o [ put a little love in your heart by david ruffin begins to play ] my bad, my bad. good race. - you too. you were tough out there. thank you. i'm getting you next time though. oh i got you, i got you. down goes jewett. jewett and amos are down. what a lovely sign of sportsmanship. you okay? yeah. ♪ ♪ something you can sign and make official start your will at trust and will.com and make it count it's hard to watch yourself. when you pulled out of the building by a tornado president biden's press conference last night didn't just have the attention of american voters leaders around the world were closely watching the president's performance with all eyes towards november and big questions about who will be sitting in the oval office next year. >> cnn international diplomatic editor, nic robertson is he's joining us now it's good to have you this morning here. i know it's afternoon there in london. what are you hearing after this press conference? as so many people watch this? >> yeah

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jpmorgan hit a all-time high yesterday. goldman sacks up 2% the last week. upside move on a lot of these bank stocks after they passed their stress test and released their capital return plans. a number of them increasing their dividends. sticking with the banking space. for millions of customers, the rise in fintech offers the best of both worlds innovate banking and cutting edge tech gocombine with the safety of government banking but the reality of those customers appears to be anything but safe and secure. cnbc.com banking reporting is joining me now with more with a new story looking at how thousands of americans got caught in fintech's false promise. hugh, good morning. give us a sense. how many people are impacted on this story >> it's great to be with you, frank. it's important to talk about this story. press has not covered it up until recently. effectively 100,000 americans who have been customers of fintech appears have been locked out of their main banking accounts for two months really since early may really. that is because -- we don't have to

it's jpmorgan, and it's wells, it's morgan stanley and goldman that do well.ons. wall street barons. >> guys, did want to talk about warner bros. discovery. how could i not? i will note, of course, that netflix's market value is well more than ten times warner bros. discovery. we are waiting on those netflix numbers after the bell tonight. a lot of people getting their numbers together, because you do see movement there. but let's talk about the movement here. couple of days ago, jessica wrote a report sort of unbundling the answer. there's an "ft" story today talking about them, at least drafting break-up plans at the company itself. there's a reference to that report, arguing exploring strategic alternatives, asset sales, restructuring, mergers would create more value versus the status quo, and that is what's going on here does that mean anything's going to happen? of course not. companies are always thinking about these things in the case of warner bros. discovery, take a look what's happened to the stock price over the last tcouple years that doesn't even

so many banks merged during 2008, jpmorgan above 10%. >> about the biggest.ed a wave of consolidation potentially at the next level. carl, that may very well be correct in terms of macro. i will tell you, there are a lot of people in the m&a world who are -- >> salivating? >> yes, at the prospect of a trump presidency. even if they don't vote for him, frankly, many of them say it's going to be beneficial to my business because there is a belief that the regulatory breaks that have certainly been one of the key points to the biden administration, going to change significantly if, in fact, donald trump regains the presidency. >> i've heard that about energy. i've also heard they would probably keep some things in place when it comes to tech, jim. >> i still think there's a populous strain in tech. remember, they brought lawsuits against big tech. they brought a lawsuit against google. >> they did. then there may be one offs that don't make sense. ala time warner. why did at&t time warner get a lawsuit, and obviously it took 18-plus months or more than that, two

report cards from jpmorgan, wells fargo and citi before the bell on friday.alls on the financials upgrading pnc to buy, downgrading keycorp to neutral and joins us with a playbook heading into earnings. erica najarian, consumer finance analyst joins us now. the stocks have been acting well, the s&p, trading near the highs. how do you pick winners from here into earnings? >> look, i think at the end of the day, we have pretty overwhelming macro catalysts. you had the presidential debate and i think the, you know, let's call it the election future started pricing in a trump victory and i think everyone was dusting off of 2016 playbook. additionally, i think the jobs number had increased the probability of a september rate cut to 75%, which also, you know, brought up the rate playb financials. i think that's why you're seeing recent underperformance. but the way i think you can distinguish from here is, you know, who has the capital to do better if we do have a pretty stable economy. you know, at the end of the day, the stress test results we got the wednesday b