julian emanuel with evercore. the uptrend that jess was talking about is something that has been thrown a lot of cold water on since the rally we saw in january. do you do from here? -- what do you do from here? julian: we have to acknowledge the s&p 500 has done absolutely nowhere for four months. we are stuck between 3800 and 4200 -- my apologies, i will beg to differ a little bit on the effective interest rates on stock prices. it has been a constant since the top of the market in january 2022 that if yields go higher, stocks go lower. it does not always work took for ticket, though there are times that it does. you look at the last several days, the pressure on yields in the u.s. is coming from europe. we see a lot of hot inflation data out of europe, that has caused the pressure and fed into the selling. this is where stockpicking rules supreme. the longer you go sideways, the more companies and themes are going to differentiate themselves from each other. jess: i am glad you brought up stockpicking, somethin

interestingly enough, i was speaking to julian emanuel at evercore isi saying what's the biggest event're watching in march? he says it's not the state council in china, it is the first republic earnings on april 15th that willdrive sentiment not just here but overseas. >> jpmorgan on the 14th still some discussion, i think it was citi last night, that said, look, tier 1 capital still better this cycle than it was in 2015 or 2008 because there have been so many hard lessons learned by the banks they would argue policymakers, too, seema. >> it's a great point. who learned what during the last financial crisis and who's better for it. >> seema mody on the banks it's going to be an eventful set of earnings in a couple of weeks. >>> let's get a news update with contessa brewer. >> good morning, carl. the new york police department says it's seen no credible threats to the city after the indictment of former president donald trump the nypd has had mobilization plans prepared since last week in anticipation of potential criminal charges being filed against the former president trump is due t

coming up, julian emanuel to drive the conversation forward. good morning. research. introducing j.p. morgan personal advisors. hey david! connect with an advisor to create your personalized plan. let's find the right investments for your goals. okay, great. j.p. morgan wealth management. your supply chain and ryder makes sure you're ever delivering with freight brokerage to transportation management, truckload capacity and dedicated trucks and drivers. >> the financial sector turbo continues. good morning. equity futures done by 1.9% on the s&p and the kind onto the open starts right now. announcer: everything you need to get set for the start of u.s. trading, this is bloomberg the open with jonathan ferro. jonathan: live from new york, credit suisse plunging to a fresh record low. shareholders