david morgan of the morgan report dot com david welcome back to the kaiser report. kids who know how to be down thank you. yeah well let's get into sober now j.p. morgan our friend our nemesis j.p. morgan apparently they've got a whole lot of silver that's what we're hearing at least according to many headlines now how much do they have according to this headline that we've been reading and how much do they really have according to david laurie m. that's impossible to determine the absolute about what the fact is that they have about a hundred and thirty five million ounces of silver currently and that's basis reporting requirements from the c.m.a. so right now as of today if you morgan has five million one hundred twenty two thousand ounces of silver in the registered category the register category is what they own outright at g p or they can you know move in and out there will also have in their warehouse one hundred thirty three a call eight hundred thirty four million ounces of silver which is the eligible category which is generally long term investors that hav

this is the "cbs weekend news." >> morgan: good evening. i'm demarco morgan.sident trump last night threatened to shut down the federal government in september if congress does not approve more funding to build a wall on the mexico border. the president fired up his base at a raucous campaign-style rally in michigan. for the second year in a row, he was a no-show at the annual white house correspondents' dinner. errol barnett has more from the white house. >> we must secure our borders. >> reporter: in a freewheeling speech last night in michigan, president trump let loose, threatening to close the country. >> if we don't get border security, we'll have no choice. we'll close down the country. >> reporter: skewering former f.b.i. director james comey. >> comey is a liar and a leaker! i did you a great favor when i fired this guy! >> reporter: and suggesting for the first time that russia directed lawyer natalia veselnitskaya to admit she is an informant to sow chaos in the u.s. >> putin and the group said, you know, this trump is killing us. why don't you say

david morgan of the morgan report dot com david welcome back to the kaiser report. you know i have to be back with you thank you. yeah well let's get into sober now j.p. morgan our friend our nemesis j.p. morgan apparently they've got a whole lot of silver that's what we're hearing at least according to many headlines now how much do they have according to this headline that we've been reading and how much do they really have according to david laurean. that's impossible to determine the absolute about what the fact is that they have about a hundred and thirty five million ounces of silver currently and that's basis for reporting requirements from the c.m.a. so right now as of today if you morgan has five million one hundred twenty two thousand ounces of silver in the register category the register category is what they own outright at g.p. or they can you know move in and out there will also have in their warehouse one hundred thirty three a call eight hundred thirty four million ounces of silver which is the eligible category which is generally long term investors

this is the "cbs weekend news." >> morgan: good evening. i'm demarco morgan. the nation's 41st president was joined today by the 42nd, 43rd, 44th, and the wife of the 45th president in a celebration of life of barbara bush. the former first lady died tuesday at the age of 92. she was laid to rest today at her husband's presidential library in texas beside their three-year-old daughter robin. mrs. bush's son, forme florida eovernor, jeb bush, delivered the eulogy, recalling the last time his mother and father were both hospitalized. >> he came into her room when she was sleeping and held her hand. his hair was standing straight up, he had on the mask to ngprove his breathing. he was wearing a hospital gown. in other words, he looked like hell. ( laughter ) mom opened her eyes and said, "my god, george! you are devastatingly handsome." ( laughter ) >> morgan: it was a day of laughter and tears. president george h.w. bush wore thcks that featured stacks of books in honor of his wife's femmitment to literacy. bianna golodryga has more on the emotional farewell to

are you trading, morgan stanley?> we have a bit of a dilemma here because a lot of financials on a lot of metrics don't look particularly expensive we had pretty good results this week we had reasons to believe that businesses like morgan stanley, we saw good growth we see more deal flow this year. that's obviously on top of all that, they look relatively cheap, relative to the rest of the sector outside of that, they -- next week it's about 3 or 4%. that's less than average what else is moving less than average the last 30 days everything is volatile to me when you see a combination of that weakness and the office coming in at less of a%? in june, you would spend $140 current stock price. that's one of the reasons why we like this trade. to me i don't really see how you could be overly optimistic after what we saw this week. >> i think the most important thing about this trade is mike can obviously make a pretty decent fundamental case for owning this stock here on valuation and maybe some of the cattle resee and yo

morgan program. if you go back to two thousand and eleven there's kind of a misconception out there seven years later people that say that was all this this massive speculative bubble where you know every shoeshine boy in taxi driver was buying silver futures that's isn't that not even remotely true in fact if you look at the data and you know this comes from the c.s.a. but if you look at that data the last month of april of two thousand and eleven when price moved twenty five percent higher from thirty eight to forty eight was all on the backs of bank or commercial short covering it wasn't specs buying the specs were getting out it was the banks that were short covering so going back to two thousand and eleven with the crash of p. morgan by silver idea right then we thought ok see this is j.p. morgan with naked shorts getting squeezed and having to buy back their shorts in a higher price and against spiking the price twenty five percent in a month then we know what happened next with the may day mas

alix: magic morgan. morgan stanley crushes estimates. equity trading revenue all sore.n the rakes. inflation slows in the u.k. and eurozone, questioning the strength of the global recovery. and john williams says inflation can overshoot the 2% target and he worries about the inversion of the yield curve. david: we look down towards pennsylvania and the capital, the flag is that half-staff because of the passing of barbara bush, the former first lady. welcome to "bloomberg daybreak." i am david westin alongside alix steel. geopolitics, you highlighted even before this came out. morgan stanley is able to hold onto the premarket gains unlike goldman sachs and other banks. the euro-dollar is modestly stronger. the real story is in the gilt market, particularly in the short end of the curve in the u.k.. basis points, strong buying coming in as the market rolls back the second hike expectation this year. may seems to be in play. but it seems to be a one and done after that inflation data. commodities jumping across the board. aluminum seeing the biggest jump so far since -- t

morgan of the space. j.p.organ reversed 5% from the pre market, 6% or something like that don't think boeing -- they will hit their numbers in q1 if they guide down for q2. this stock will be on its way back to the low end of the range. it will take the whole sector with it. >> for everything "options action," check out optionsaction.com. while there, check out our news letter, don't be the only one fought reading it. in the meantime, here's what else is coming up. >> don't be such a skwa ir >> good advice, because square shares have been flattened from is one vent event that coud save it. tweet us your question at "options action. if it's nice, we'll answer it on air when "options action" returns. >> logical (indistinguishable muttering) that was awful. "options action" is sponsored by -- ooh. so, why don't traders have coaches? who says they don't? coach mcadoo! you know, at td ameritrade, we offer free access to coaches and a full education curriculum- just to help you improve your skills. boom! mad skills.

i know they have morgan stanley as an underperformer i'm long morgan stanley. >> $51 price target. >> i disagree. i think morgan stanley is heading completely in the right direction in terms of diversifying their model i'm take their $51 and make it $61. >> let me step away and head back down to washington, d.c eamon javers is standing by there. we had watched a little bit of the steam, a little bit, i want to stress, come out of the rally, perhaps, on a headline that we're putting up at the bottom of our screen now, related to the search of president trump's personal attorney >> that's right. "the new york times" reporting within the past couple of minutes that the reason for the search was that law enforcement officials were looking for information about two women connected to the president of the united states. one is karen mcdougal, an ex-playboy playmeat, who suggests she had a relationship with president trump at some point in the past decade the other one is the woman known as stormy daniels, the porn star, who has also alleged she had a relationship with the president of the u

morgan at the 2018 lows. less than 50% of people who cover the stock have a buy on it one more name, wells fargo we had a big climactic low in volume the recent low, we think that's a positive sign that the stock is fine. and when we look at the big picture, this is pushing up right against the 2675 level we think ultimately you break out here, it's hard not to like this picture three weeks of basing, we think it goes higher >> chris comes over, right >> i don't think there's a question -- >> come on over, chris. >> bring him in. >> thank you, ryan, for the chair. so when you're looking at these charts you also look at the ten-year yield chart because i feel like on a day-to-day basis it's subject to the whims of the ten-year yield, the direction of financials. >> let's keep yields in perspective. september 1 of 2017 ten-year yields were 201. they hit 295 a month ago they're only off 12, 13 basis points the yield market has been very, very resilient two-year yield still at 230. five year yield back at the hig

why did investors give morgan stanley a pass? brennan: i think that the idea here is that we had a very strong results and morgan stanley had underperformed coming into the prince, so it was more about set up than anything else. i think we are seeing -- we had seen some concern around capital and such yesterday and goldman announcing their call, and they would bring their buyback to zero, which raised real apprehension around their proposition. james gorman said they feel good about their capital position and there is no change in the perceivable future. i think that moderated a lot of concern, combined with really robust results. nothing was perfect, so there were couple of nitpicky points and bears could point to, the management did not really grow and it looks like loans might he slowing but as they explained on the call, some of that slowing growth is probably transient and a result of shifting to an underwriting that they had in-house versus outsource. seasonality.alk morgan stanley sought a slowdown in the second half the q

morgan stanleys? >> he has not and if there's a criticism of john williams that i think is the most salient it's the one that he does not have the experience regulating these. dudley came from goldman sachs >> not as a regulator. >> fair enough but u i think his understanding of the, i think more important to your point, is that he was head of an open market operation at the new york fed, which dealt specifically with the plumbing in the financial system. and had that job by the way, his job, dudley's job during the crisis was to sort of foam the runway for in other words, if lehman was not saved that weekend, dudley's job was to prepare the market and the system for what would happen if lehman failed williams does not have that. he was involved with the crisis. but not in that way. and i think that's an excellent point. >> stick with us down to d.c. for a moment. join eamon javers. the president was just speaking moments ago and eamon was at the white house with the comments from president trump >> y

shares of kindergarten -- kinder morgan are rising as much as 1%.t reported strong earnings last night. this is the first time they have .ncreased dividends , they slashed it by more than 75%. from 12.5d it to $.20 cents. this is the first step in that hit a certain benchmark by 2020. vonnie: what led them to do this? morgan is the biggest supplier for natural gas pipelines in the united states. demand has been pricing. -- been rising. weekly gas demand has hit a record, 10 million barrels a day. kinder morgan transports gasoline, and they are looking to construct a second pipeline in the permian basin. analysts, recommending holding the share in month ago. 61% are recommending buying them. it is a turnaround story for kinder morgan. vonnie: there aren't many competitors. morgan has a lot of business. kailey: there's a bit of confusion with what is going on in canada. bere is a -- supposed to more clarity coming out of that over the next month, but in the united states, they are dominant. shery: thank you. vonnie: it is time for the latest bloomberg

morgan jamie dimon craig welcome back. good to see him x. topic number one on the show jamie diamond tape worm her responsible citizen now over there j.p. morgan jamie sent out a letter to investors he warned of a major market panic and he's encouraging people to hold gold and silver this is after of course we've discussed he went from a two billion pounds short position when the bear stearns acquisition went down during the two thousand and eight financial crisis and that was more was engineered by timmy geithner and ben bernanke gates aligned goldman sachs pockets of billions and billions and now they're going along silver because they've been buying sell with reckless abandon out there in the marketplace is this just j.p. morgan feathering their nest once again talking their book krag. part of that max no doubt about it i mean if we look at the data whether it's suspect or not it shows j.p. morgan to hold in their comix vault well more than one hundred forty million ounces of silver and most of it is marked what they call eligible which m

i think they have done great but we're talking about the future morgan stanley has done well, and nobody can take this away from them, they integrated the brokerage side and advisory side from smith barney. they have done it, nobody thought they would be as successful the other thing they have done, which is not necessarily going to be great going forward, is they figured out a second revenue stream for a lot of their wealth management clients, which is taking the brokerage assets and basically secureatizing them for another

she joins us from san diego welcome morgan. thank you how are you i'm good and thank you for taking some time out from what i gather is a busy campaign i notice on your resume that you have been an older driver so you get to talk to lots of people what is the mood in america today. but i think that people on both sides of the aisle are kind of fed up with career politicians so i think we can all agree on that one but yeah the mood that i'm mostly getting is tired of the same old tired of people who've been sitting in office for too long and just keeping the seat warm like my opponent susan davis how often do your passengers use the term the swamp. well when i wasn't it were driving it was in the swamp. more often than you would expect like so many congressional districts yours is thought to be

>> trevor: please welcome tracy morgan!ou for having me. >> trevor: it's been so long, i wanted to have you on. >> because i'm scared! you're smart! this is a smart show, man! i had to go back, get my g.e.d. just to come here! for real! i'm not into politics. i voted one time in my life and that was for dave dinkins. you see how that turned out. >> trevor: who is that? >> the mayor of new york! ( laughter ) >> trevor: oh, man! well, i'm glad you came. congratulations, "the last o.g." just got picked up for a second season. ( cheers and applause ) >> i love that show, man! i have so much fun doing it. >> trevor: you know what i love about "the last o.g." >> what you love about "the last o.g."? >> trevor: i'll tell you. you play a character who's just come out of prison and is trying to restart his life. he moves back into brooklyn. he realizes the whole world changed and struggles to get back into the world. was the brooklyn story a real story? >> yes, these are real people. i foe these people. this show is funny and grounde

morgan feathering their nest once again talking their book krag. part of that max no doubt about it i mean if we look at the data whether it's suspect or not it shows j.p. morgan to hold in their comix vault well more than one hundred forty million ounces of silver and most of it is marked what they call eligible which means it's just being stored there it's not ready for delivery or anything like death or just holding it and so as we look at the numbers i think it's safe to assume which is call it at least one hundred million ounces of that silver is j.p. morgan's so they're sitting on this massive hoard max and again it's easy to be at least one hundred million ounces of their own silver and at five thousand answers of silver comix contract that's twenty thousand contract right so now they have the opportunity i guess we call it that just like a large investor who has a big position in stock might sell calls against that stock just generate some extra income hoping that the stock is in get called away hoping the stock is gradually increases and n

they get more revenues from the trading than jp morgan does. don't worry about all of this, the news is good for these companies. the exchanges, too, bigger volume in february the numbers were up, they are trading up throughout the year ice doesn't get as much of its revenues from transaction fees more from market data. bottom line, don't worry about it yet very happy with leadership in oil stocks the whole week we have seen these stocks moving up a small new leadership group is emerging back to you. >> let's get more on what this earnings season means for the market and to do that we will bring in kate warren of edward johns. and ron insanaa. folks, welcome good to have you both here ron? >> yes, sir. >> i wonder, it feels to me on this friday the 13th that investors are a little shy, holding stocks and going long or longer into a weekend where stuff might happen. >> i would put syria at the forefront of that. >> exact three. >> that's a wide open question even though there has been moderation in tone between the u.s. and russians. then you al

morgan stanley is. are under pressure after the company issued that lower than expected full-year profit forecast analysts say the legacy hardware business continues to hurt growth and profit margins. we've said a couple of times this morning that it's the worst day since october 20th of 2014 erasing about 80 points off the dow by itself. >> similar patterns we've seen of recent days morgan stanley is still up but it was up about 2.5% at one point. certainly shaving those gains given what at least all the analyst reports i've read at this point and heard was a very strong quarter really across the board. hardly anything to take issue with at the company. goldman sachs had what many thought was a strong quarter until comments about the buyback that may have disturbed people we'll keep an eye on the financials >> the financial weakness in the stocks has been interesting. it's happening at the same time energy is making this big move higher crude is spiking as jackie reported back to 2014 highs on oil. ene

jeffrey dean morgan can suck a [ bleep ]. go back to gray's and die again.rsh. [ laughter ] >> jimmy: he's right. >> i'm like, i can't do it better than that. >> jimmy: that's one way of teaching them harsh realities of the world. >> yeah. people aren't all that nice. >> jimmy: you have a baby daughter, too. how old is she? >> six weeks old. a baby, baby. >> jimmy: is it true you delivered this baby yourself? >> i did. >> jimmy: why did you do that? >> that's an excellent question. i did the same with gus, too. all natural. we had a midwife. >> jimmy: that's very natural. too natural. >> my wife is like, full on tough. like in drugs, nothing. >> jimmy: she must be. >> i was freaking out of my mind. she was great. >> jimmy: you're like, yeah, i was on gray's anatomy. >> i can full sleeves up. with gus, un, when he's coming out, the midwife suddenly -- i wasn't prepped for this. no one said you're going to catch the baby. that's kind of what happens. so you know, the midwife kind of moved aside and said get in there. and i kind of panicked. i didn't know what

apple's drop dragged the tech sector lower after morgan stanley says it expects t company's i-phone sales to disappoint. the dow jones industrials fell. the nasdaq was off 91. despite today's clines, stocks were higher for the week. and now that we're a few months into unusual year on wall street, many are trying to figure out wnst happe next. so mike santoli went looking for some answers. >> the stock mar it findself once again at a crossroads. nearly three months after reaching a peak, the s&p 500 findex is aboutt for the year and roughly halfway between that record high andf the low early february. volatility readings have come down sharply asar thet has stabilized. yet the indexes remain far jumpier than they were last year. corporate earnings are quite strng. even bethan lofty forecasts. yet investors are t rewarded good results for higher share prices across the board. the market's indecision reflects several factor c taxuts are enriching companies and helping consumers, yet those same factors are pushing hterest rates higher. the treasur climbed back to 2.5%. its high for the year

(steve) washington correspondent morgan wright reports .... songwriters and performers are looking forward to getting some gold for their oldies, but will music lovers have to foot the bill? ((nats: i got sunshine))morgan wright reporting: classic hits like the temptation paved the way for generations of music to come but if you're a fan of the oldies you may be shocked to learncara duckworth, svp communications & marketing recording industry association of america: none of those artists are getting paid for that music.mw: the music modernization act would change that. in part it catches laws up to technology. cara duckworth, svp communications & marketing recording industry association of america: it really helps update certain provisions in music copyright act which were written in the 1970smw: cara duckworth with the recording industry association of america says any artist that recorded music before february 1972 is not paid by streaming services like sirius xm and spotify mw/su: within this bill artists responsible for classic hits produc

nobody thought it would happen to mckenzie morgan. >> you're just quiet. there's not a thing that we can do. >> help! >> reporter: to mckenzie the parents she was always exceptional. their super girl. >> a kid that started reading at 2, 2 1/2, speaking in sentences at a year and a half. >> reporter: she excelled in school, threw a wicked curveball and a sixth sense for the outdoors, developed elk hunting with her dad. >> she's a great kid. >> always wanted to go often are and do the next thing? >> the next thing. doing as good as you can. >> reporter: more than anything, mckenzie wanted to fly. frankly, that desire came packaged in her genes. great-grandfather, grandfather, uncles, like jared hansen, all pilots. mckenzie and grandpa got together. >> we talked and said that if she wants to do it let's help her out. >> reporter: hur parents were fine with it, too. a lot of people would look at this and say, god, you really feel good about letting your daughter go off and fly an airplane at her age? our daughter chose to go up and fly in an airplane. i was mo

morgan brennan has a big guest coming up. hey, morgan. >> hey, carl that's right astronauts will be training on something like this for when they go up in boeing's new spacecraft as soon as later this year the new space race, boeing's part in that, so much more exclusively with the ceo of boeing's defense and space business stay tuned every fire department every police department is part of a bigger picture. that bigger picture is statewide mutual aid. california years ago realized the need to work together. teamwork is important to protect the community, but we have to do it the right way. we have a working knowledge and we can reduce the impacts of a small disaster, but we need the help of experts. pg&e is an integral part of our emergency response team. they are the industry expert with utilities. whether it is a gas leak or a wire down, just having someone there that deals with this every day is pretty comforting. we each bring something to the table that is unique and that is a specialty. with all of us working together

we are waiting on morgan stanley, due out any moment, morgan stanley the last of major banks to reportrter results and the sector is having a strong start to the year, a lot of people expecting banks to do well as interest rates are expected to move higher, the demand story picks up and, of course, the rollback in regulations, meanwhile there's this, the internal revenue service extending the tax-filing deadline by one day, cheryl casone in the new york bureau with the details, cheryl. cheryl: it is interesting, maria, here is where we are at now, last-minute filers will have until midnight today to file and pay 2017 income taxes, the irs issued the penalty for extension after its website crashed yesterday on tax day, treasury secretary steven mnuchin describing the problem as a high-volume technical issue, the arrest website we should say is now up to speed this morning. well, we are getting our first look at facebook's privacy makeover, more privacy safeguards in europe in order to comply new data laws taking place next month. from now on you will need permission, facebook say it is

morgan ennan, good job. thank you. >>> time to take a look at some of today's upgres and downgrades. netflix's rating was raised from buy to hold at deutsche bank. the analyst there sts t netflix has changed the industry in a profound way and in doing a so, i given itself a significant lead over competitors. the companyeports earnings o monday, by the way. price target was lifted to $350 a share. shares of netflix today rose fractionally to $311.65. starbucks' rating was cut to market perform from outperform at keown, the analyst site krooiting concerns about kraft coffee competition and questionable customer loyalty. price target was lowered to $65. that stock fell slightly to 9.24. eli lilly's rating was raised from underperform to market perform at bmo capital. the analysts there backing aivy from neg stances he's had on the stock for the past year, saying that many of the h obstacle previously cited are now priced in. price target was raised to$79. the stock wasp cents to $79.72 today. and dropboxthich r

in canada the controversy surrounding a major oil pipeline is not going away texas space kinda morgan says investment in the expansion of the trans mountain pipeline may be untenable as this canadian provincial and federal governments face face off on the issue artie's alex behala bitch joins us in toronto where it's following the stork story alex morgan says it might be stepping back from the project which could actually triple the pipeline capacity what's the latest. welcome to bergen saying this is beyond their realm the texas based company just sees this as a argument right now between governments with the b. c. the british columbia government being in the center of it all the british columbia government in particular is the one that has been putting up hurdles towards this project it's concerned about the fact that this pipeline actually goes mostly through british columbia and through some of the most pristine areas of the world of course the pipeline links are a major concern for a new democratic party government that they're more left leaning here in canada and a government th

gilroy itself, 101 smoothly up to san martin, slowing into morgan hill. over here this is the fremont camera. back to you. >> thanks, mike, 6:01. developing this morning, a shocking discovery for people in a small east bay city, investigating the first homicide in three years. this happened in the middle of the day near a high school. bob redell is live. what happened here? >> reporter: well, good morning marcus. as you mentioned, this is just a few blocks away from albany high school. we did put the map together to give a better sense where we're ago. 600 block of masonic avenue. along the greep way that runs underneath the b.a.r.t. tracks. it was around 11:30 yesterday morning, a police received a 911 call and found a man lying on a bench dying from a gunshot wound. paramedics took him to the hospital where they tried to save him but unfortunately passed away niz injury. they are not releasing his name until they can notify his family. law enforcement hasn't said what led up to the crime and what the motive was and whether the shooting was random or bet

morgan.iggest contraction ever since 2014. as for wells fargo it is flat, but really higher rates obviously equal more expensive home loans. the cfo for wells fargo has actually said two thirds of the margins declined at wells fargo because of competition in the mortgage market. not only that they say applications looking ahead for new loans fell $5 billion in atls fargo and $6 billion j.p. morgan. in the bloomberg terminal i will show you while there are weights, there are positive spirit this is looking at sales and trading revenue in white and we can see from the fourth quarter 2017 to the first quarter 2018, we see a good pop here. looking at it ever since the first quarter of 2017, coming up on par. jamie dimon weighing in on all of this. he did not have good words. he said the environment is competitive and lending as you saw was flat for the quarter. one final time back into the bloomberg because after all of that negativity, you can see bank shares did fall. j.p. morgan for example do

first up is ebay, getting a double upgrade at morgan stanley. from underweight to overweight you don't see it that often. >> you don't, and you really have to respect an analyst when you go from i'm selling it to i'm buying it. but they're not married to a view what they're focused on is payment solution ad revenue what i would say the payments area is what's getting increasingly more competitive. so that's not one of the anchors i would use for the story. >> all right lam research is under pressure despite a beat what's going on with that? >> first of all, this is a very volatile stock the semi equipment stock i like tear adine better, but the guidance here in terms of memory chips was the problem. 84% of the revenue and orders from march are reflected by these memberships. the question is, is there an nand oversupply, that's the concern. and the other side is the analyst community has quickly come out, defended the company, and said capx will be strong this is a point you buy it at. i'm not sure i want to go into lam research, because of the v

in canada the controversy surrounding a major oil pipeline is not going away texas space kinda morgan says investment in the expansion of the trans mountain pipeline may be untenable as this canadian provincial and federal governments face face off on the issue artie's alex behala bitch joins us in toronto where it's following the stork story alex hinder morgan says it might be stepping back from the project which could actually triple the pipeline capacity what's the latest. welcome to bergen saying this is beyond their realm the texas based company just sees this as a argument right now between governments with the b. c. the british columbia government being in the center of it all the british columbia government in particular is the one that has been putting up hurdles towards this project it's concerned about the fact that this pipeline actually goes mostly through british columbia and through some of the most pristine areas of the world of course the pipeline links are a major concern for a new democratic party government that they're more left leaning here in canada and a govern

leftyoung trader just morgan stanley, his name was morgan stanley.e just wanted to have fun with some light news. thank you. you can read her story on the bloomberg. markets board of politics. the news -- from new york, this is bloomberg. ♪ julia: this is bloomberg markets. i'm julia chesley. scarlet: i'm scarlet fu. stocks rallying or a second day, overshadowing geopolitical tensions. selloffs could be buying opportunities. stephen, great to see you. you summed it up saying tariffs are two 2018 what north korea 2013.o until we find out more it is a lot of noise. >> tariffs are going to be less important. basically, markets used to talk about tariffs but if there is not much action i don't think they are going to take it seriously. , the stockthing market drops 15%, you can walk it back the next day. you can't walk back a war. andcan walk back a tariffs unwind the effects. markets are going to be more specific -- sophisticated. so it is more dynamic. interesting. julia: the thing to focus on in the short-term term is the data and earnings season. wha

and morgan on a live chat on facebook.com/todayhealth.e talking warm conditions. spring highs across the country finally starting to pop up. we love that. philadelphia today, 68. 65 in chicago. dallas, 76. tomorrow, we see warm weather even making its way into boston, mobile, austin, tulsa and on into minneapolis. this weekend, finally feeling good. it'll be into the 60s in new york city. 60s in raleigh. memphis looking good. as you head out west, man, is it toasty. we are talking really wild mild weather. seattle, near 80 degrees. that's 19 degrees above average. reno, 83. phoenix looking at 93 degrees. heading into the weekend, it is going to stay nice and warm. the temperatures will be spreading to the east, even chicago getting in on the that's what's going on around the country. here's what's happening in your neck of the woods. >> good morning, i'm meteorologist kari hall. as we take a live look outside in san francisco, still cloudy, but skies will be clearing soon. and we'll have a beautiful day. and the inland area, still nice an

live at morgan hill city hall this afternoon. back to you up in oakland. >> jessie, thank you. >>> a vallejo elementary school teacher accused of inappropriate behavior faces criminal charges. 36-year-old andrew lund is a 4th agreed teacher at glen cove elementary school and arrested yesterday for attempting to contact a minor for sex and sending harmful material to a young person. he communicated earlier this month with an undercover investigator posing as a young girl. >>> the dallas state university campuses -- the california state university campuses push to raise tuition is now off the table. they discussed raising tuition by $228 a year at a meeting in may but students have been protesting the idea since it was first introduced in january but instead is increasing the state to increase education funding for the next budget. >>> and still ahead, traffic relief on the hitch monday-san rafael bridge. >> and blue skies across much of the bay area as a warm up is coming for the weekend. we will check in with mary for the forecas

tracy morgan right there!. >> i know i could have did it. >> jimmy: no, you could have been eddie van halen. that's you. >> i know it. >> jimmy: i know -- >> i believe he's my biological father. [ laughter ] >> jimmy: you have no proof of that at all. >> he used to -- yeah, he used to come up there to the house all the time. [ laughter ] >> jimmy: oh, my gosh. >> either him or david ruffin, one of them. >> jimmy: it was eddie van halen or david ruffin -- >> he would drive that white van. he sold fish out the back of that van. [ laughter ] everybody knew he was out there. how's he keep that van double parked all around the neighborhood. >> jimmy: and everybody knew that eddie was either -- >> yeah, eddie loves fish -- >> jimmy: and everybody knew eddie was either -- eddie van halen, either -- okay, or david ruffin. >> or obama. one of those. >> jimmy: or something, obama, wow. that's amazing. well, >> jimmy: you went to the movies this past weekend. this is probably after, you probably took this guy afterwards.

i'm demarco morgan.ia director mike pompeo faces uphill battle in his nomination to become secretary of state. that didn't stop him from making a top secret visit to meet with kim jong-un. pompeo reportedly laying the ground work for an historic summit meeting that will bring together kim and president trump. major garrett has the story. >> after two days of meeting with japanese prime minister, shinzo abe, the leaders held a press conference at the president's resort, mar a lago. >> i will be meeting with kim jong-un to discuss the denuclearization of the korean peninsula. hopefully that meeting will be a great success. and we are looking forward to it. >> over lunch, president trump described cia director mike pompeo's recent secret trip to north korea. >> he just left north korea, had a great meeting with kim jong-un. and got along with him really well. really great. >> on twitter mr. trump said the face to face occurred last week. the white house later said it happened over easter. pompeo taken the l

live outside morgan hill police headquarters in morgan hill this afternoon. jesse gary, ktvu fox 2 news. >>> thank you. the federal aviation administration has issued an emergency order for all airlines to conduct engine inspections following tuesday's deadly accident on a southwest flight. the faa said planes with more than 30,000 take-offs must undergo inspections within 20 days. the order affects an estimated 350 planes in the u.s. on tuesday, a woman died after she was partially sucked out of a broken window on a southwest flight. investigators say a fan blade in the engine suffered metal fatigue before breaking and causing the engine to fail. >>> america's biggest pot party is counting down to the minutes right now. we are less than 10 minutes away until 4:20 on this date of 4/20. here's a live look at golden gate bridge. we'll go back live there in just a few minutes. >> plus, the democratic national committee files suit against the trump campaign and others following the presidential election. coming up next, east bay congressman eric swalwell joins us

morgan help these communities. ro glor: j.p. morgan chase saw its biggest-ever quarterly rofits.es are up, some bonuses have been given. r?e of the concerns is the vast majority from the benefits from this tax reform has gone to companies and executives and fiare buybacks is. that fair? t i don't think it's gone to executives per se, but like i said, the immediate benefit, there would be immediate benefits for companies are doing now to help grow and expand and wages and stuff like that. over time, capital gets reinvested, and that drives productivity and wages. >> glor: but are the benefits of irx reform being distributed in your estimation fairly? e. over time they will. but it's very hard to do it from day one. for me to open 500 branches, i need real estate people, i need to train tellers, sign leases. i couldn't do it overnight. >> glor: this has been a long time of sustained, solid growth. how long can it go for, before the next recession? >> i think your viewers should understand, it's been nine years of growth, which is among the longest. consumers are in very good shape.

nbc's morgan radford is in philadelphia with the latest.gan, good morning. >> reporter: frances, this morning calls to boycott starbucks amid growing controversy after two black men were arrested inside while waiting for their friend. now the philadelphia police are speaking out and so are the people. >> no longer, no longer. >> reporter: protesters calling for justice. after the arrest of two black men at this philadelphia starbucks on thursday. >> what did they do? >> reporter: this video captured by witness' cell phone shows police talking and later handcuffing the men while they were waiting for a friend. the men wanted to use the rest room but the manager said per store policy they couldn't since they didn't buy anything. when they wouldn't leave, she called police. >> a group of males refused to leave. >> reporter: some witnesses said the officers over reacted. >> they were chatting on a phone like everyone else. >> reporter: the police commissioner said the officers didn't do anything wrong. >> they followed policy and did what they

this morning morgan stanley, rising interest rates may shutter the junk-bond window.ldare you guys on high credit now? rachel: there are questions about technicals, fundamentals. on the fundamentals side, defaults are low. it brought the average default rate up over 2%. that is very low historically. release expects the default rate to declined between now and year end. we see leverage moving up, but when you look at high-yield, what is the level of issuance and triple fees? we saw a 5 year period from 2003 to 2007 where issuances were as high as 33% in 2007. right now 12% of issuance year to date. over theen 10, 11, 12 last 4 years. the average level in the new issuances is extreme dread there have been outflows from a high-yield asset class. 20 billion has flown out of the mutual funds. that could seem an alarming number. there is a lot of cash flow that comes out of the high-yield bond market. we see about $20 billion just this month being freed up. worry that don't much about the supply-demand. jonathan: morgan stanley also pointing out the maturity wall for high-

bank of america, goldman sachs, and morgan stanley reporting.resident of the united states will be meeting with prime minister of japan shinzo abe. bank of canada will make a rate decision. we get the fed book as well. aig, rachel,e, cr and matt. just time for some final thoughts. i want to reflect on the final quarter as quarterly earnings come through. what has changed in the last three months despite all the volatility we have seen in equities and global politics? i don'tthat is just it, think a lot has changed, and yet the market has gotten flustered by the pickup in equity volatility. in the zip code of 15 to 20, it doesn't disrupt things. earnings are going to be solid. you have tax reform that is going to help. s&p 500 earnings up 70%. supply and demand. it has been a relatively calm period. near-term smooth sailing on global economies. the comment that the pace of growth is slowing, absolutely true, but that could lead us back into a goldilocks environment. >> i think we are in the goldilocks environment still. growth we are still waitin