morgan: unfortunately yes, we have had our members say that morgan: unfortunately yes, we have had our members say that they need to wait for the dust to settle. i let one of the bigger guys take the arrows first on how to do it. for the most part, our members have been finding the best way to comply in terms of communicating with their users. that gets to one of the core problems on this privacy discussion. a room full of privacy professionals will all nod knowingly about how things are, but we have done a lot of user testing, and when a user picks up their device, the way they want their information is very different. pretty much everyone looking at me through that camera right now has been getting any mail flood of gdpr notices. i am also certain that those people have not read that email box full of gdpr notices. that tells me we are not doing a good job of communicating with the user. that is a part we need to fix. what is the solution to that look like? we have seen some good first attempts. i would say that apple kind of lead the way with just-in-time notifications. in other wor

i'm demarco morgan. 28-year-old man is in custody after a deadly shootout with police at a trader joe's. los angeles police say the gunman shot his grandmother and wounded a young woman before taking hostages at gunpoint inside the supermarket. the manager of the store was killed in the shootout. brave employees helped coworkers and shoppers escape. and millions, including president trump, watched the saturday night standoff unfold on television and on social media. jamie yuccas has the latest from the los angeles neighborhood of silver lake. >> reporter: los angeles swat team surrounded the trader joe's supermarket negotiating with a gunman, while inside 50 shoppers and employees held hostage, huddled in the aisles, hid in the freezer section, and locked bathrooms. several employees got the okay from the swat team to escape out a window while the gunman was still inside. >> he gave me a thumbs up. and i went down the ladder first, held the ladder, and three more coworkers came out, and then we ran to sa

i'm demarco morgan.hing and good night. >>> live from the cbs bay area studios this is kpix5 news. >> out of nowhere i just hear a big bang and i see the van squished in half. >>> now at 6:00 an amtrak train slams into an east bay crossing, the debate over whether the crossing arms were working correctly. >> he died trying to protect the lives and homes of his neighbors. tonight the community is remembering a fallen cal firefighter. the blaze he was battling exploded in size near yosemite. >> and dianne feinstein snubbed by her own party, why they're throwing their endorsement to the powerful democrat trying to unseat her. >>> you might be thinking the 85-year-old incumbent probably doesn't need any help getting elected, but kpix5 political reporter melissa caen explains the party nod actually comes with some significant fringe benefits for her opponent.

morgan's magic. morgan stanley wraps earnings for the big bang with a killer quarter.rror has two faces. ballmer dials it down. the former microsoft the ceo has come along way from his onstage pump up days. the bar is skewed. jason: it is. wait until we show this video. joining us now is lisa. great to be with you. morgan stanley is captured a lot of headlines today. it is coming towards the end or at least towards the back half of earnings. what jumped out? lisa: the contrast between morgan stanley and goldman sachs. goldman sachs used to be the trading behemoth of wall street. morgan stanley made a very deliberate move to say we are to radically cutting our units across the board, saying we are going to shrink it. they are crushing it. they actually beat their fixed income trading revenues by much more than goldman sachs be there trading revenues in a fixed income space, which goes to show, perhaps morgan stanley taking the approach that at least for now is working or consistently and better than goldman sachs. it is really a tale of two banks. you have seen them mar

morgan: not the backdoor statement. remember, when you're putting an application on your device, that is outside of your choice, you want it. you want a nap -- an app that kenexa with your family -- that connects you with your family. it is a door, not a backdoor. >> it is another entrance into your phone. left your the communicators went to black cat in biggest and we were told specifically to take facebook, the most downloaded at, off your phone because facebook has access to everything that you are doing. every click on your phone. that animportant application has access to that sort of thing? morgan: i always enjoy the hyperbole of the security crowd. that is a bit of a hyperbolic statement. it is possible to get it. but the court of the question being asked is, are you happy with what facebook is doing with your data? is it appropriate? is it what you expect? given the amount of scrutiny facebook has been under nationally, internationally, legally, i think those are questions that the team at facebook is probably c

and, you know, you get the feeling that trump is indulging piers morgan and piers morgan doesn't knowged but we know he is being indulged. it is unintentionally hilarious. well, let's leave him for the moment and turn to the sunday telegraph. their main story is about brexit. former minister quit over secret plan to foil brexit. this is the brexit minister steve baker, who quit last week alongside the brexit secretary david davis. he is giving his reasons, if you like, for quitting, and saying that there has been an establishment elite secretly pursuing a planned frame much softer brexit. so a closer relationship with the eu than the one on which he and a brexit secretary had discussed. he is the government. he is not the establishment elite? is there another one? sounds like hillary clinton. the problem is, the basic problem is, that brexiteer ha rdliners basic problem is, that brexiteer hardliners in the conservative party pressed theresa may to evoke —— invoke article 50. they didn't have anything. there didn't have a plan. they had nothing. then they put the country on the clock,

jonathan: live from jp morgan asset management, this is "bloomberg real yield." coming up, stepping on the fed's independence. president trump pushing back against higher rates. chairman powell testifying that rate hikes will continue. meeting presidential resistance. the dollar rally stalling and the u.s. struggling to find stability. we began with a stepping on fed independence. >> ultimately it puts into question what the fed and fomc is and the ability to maneuver. the reserve is not going to react from tweets from the president. they don't need to. >> it is a strong institution, and they have staying power. >> it is time to move rates back to normal. they will continue on that path. >> if people feel the fed is going to kowtow to the president and allow the economy to grow too fast and inflation to go up, interest rates will rise. bond vigilantes will kick in and rates will rise which is what the president does not want. or they be the fed will say to show its independence, it will preemptively raise rates. either way, the president is shooting himself in th

we are live from jb morgan asset management. -- a j.p. morgan asset management.er g20 weekend meeting of finance ministers. -- we have a gt -- g20 weekend meaning of finance ministers. i am joined by bob michele. do you believe the federal reserve will raise former times and then close? bob: absolutely. that brings the fund rate to two and three quarters to 3% depending where inflation is. that is a real yield of about one half to 1%. that is still generous by historic fed terms, but not overly accommodative. they will have raised rates for 3.5 years. why not step back and see what other banks are doing and also see how the economy is doing? that takes me to the second conviction -- jonathan: that takes me to the second conviction. bob: we are bearish. use switches to quantitative tightening and yields will drift higher across the curve. we want to hide in the front end of the curve. short securitized for example. jonathan: do you see that more pronounced in europe or in the united states? bob: i think more in the u.s., frankly. people will have to adjust to what

morgan just said, give me two vollies and you can go home. you can reform behind the continental line. he hoped they would rejoin the battle. give me two volleys and you can go home and how all of the old folks will bless you and the girls will kiss you. that is what they did. they reform behind the continental line, pickens led them back into the battle and played a decisive role in the final seat of the british. hope that is good enough. >> did pickens have any professional relationship with francis marion? they didn't have much direct contact because they were operating in different parts of the state. after the war, they were both in the legislature. i have not found any correspondence between them. runsure that they had to into each other at the statehouse and perhaps say a few words about the revolution. they never directly served side-by-side. yes, sir? you mentioned, there was a lot of viciousness and neighbor against neighbor fighting in south carolina during the american revolution. how much violence against loyalists or people who

morgan. >> morgan: this is clear vindication of president trump's policies, tax cut with regulatory reform, delivered what he promised to the american people. we have had, some top growth we've had in a decade. i think what we saw and trisha knows this, during the obama years, annual growth rate around 2%, which is not great. what this president is trying to get is over 3% average annual growth. this is a huge win for the american people, politically a huge win for him and the republicans. >> harris: what you are saying contextually, question is, is this sustainable and he spoke to that today. he was anticipating, he said, look, i've talked with my advisors, it can be sustainable and we're working to make that happen. if you get a year out, you're saying it is unstoppable at that point politically for anybody to fight. brings me to jessica, the numbers, undeniable this kind of growth, what did democrats do with this? >> jessica: if they are smart, they embrace it and say they are happy americans have extra money back in their pockets. we need to make sure it is sustainable. no doubt obama

jp morgan went up by 25%, same as bank of america.ze banks did great, some went up by multiples of what they were paying before. so the numbers are great, they are returning lots of money to shareholders, and it is increasing. nejra: so, who are some of the winners and losers? you pointed to wells fargo and said wow, as some people have said, it was one of the winners here. is it? and were there any losers? yalman: definitely, wells fargo. all the other big banks, except for morgan stanley and goldman or the winners. capital levels under the stress scenarios went down, but it wasn't so much down. so they are great going forward, as well as how much capital they are able to distribute. morgan stanley and goldman sachs, as we described, they weren't losers in the sense that they also got some of what they wanted. they can continue distributing their dividends and buybacks, but the harshest of the tests, especially impacting their capital levels more than anyone else, is going to hurt them going forward, because the regime is changing. t

as the british colonel began moving toward morgan, pickens' scouts allowed morgan frequent updates on locations. because pickens of' men -- pickens' men had gathered so much food, tarleton was forced to drive his men with little rest so he could try to reach morgan before his supplies ran out. by the time they reached the calpence battlefield, they were and hungry. meanwhile, pickens had finally consolidated his militia units at calpence where they played an extremely important role in the actual battle which is a great story in itself. in short, the great american victory at calpens would have been impossible without the contribution of the militia during the battle and in the weeks leading up to it. pickens stood out for being determined to conduct the war in as humane and civilized manner as possible. two, he stood out for his ability to forge a partnership between the militia and the continental forces of daniel green and nathaniel morgan and white horse harry lee and others. finally, three, for pickens, once the war was over, it was over. it was time to arrange an honorable peace

we get all of it now from nbc's morgan radford. >> reporter: tonight, cbs" board of directors taking no immediate action against ceo les moonves. now calling for an independent investigation seeking outside counsel following the bombshell "new yorker" report accusing him of sexual misconduct. the article details six women's accounts, four on the record that include accusations ranging from forcible touching or kissing to physical intimidation between the 1980s and the 2000s. moonves' wife, long-time tv host julie chen, reiterating support of her husband on cbs' "the talk." >> i issued the one and only statement i will ever make on this topic on twitter and i will stand by that statement today, tomorrow, forever. >> reporter: moonves saying in part, i recognize there were times decas women ufoking advances. those were mistakes and i regret them immensely and i have never used my position to hinder someone's career. mon -- moonves' position now in question. >> it seems like they are afraid to name the ceo in any of their communications. >> why? >> because i think they want to leave les

morgan stanley. strength was across the king was a the deal ma standout and that goes with the theme. e of fits with the them investment banking performing strong. again, morgan stanley saw shares key topics included the institutional securities business and turning in the best the dealsince 2007 and pipelines. we have the investment revenue graphed out for you and you can charts of investment banking rising across the board is where yougreen find morgan stanley. if only all the results could be this easy. really, a strong quarter for morgan-stanley. >> it is tough to find weakness. we have conflicting supply data that we are looking at. bui surprise here with the that was offset by gasoline. you saw oil was lower earlier in the week and it came back and it was a positive for the oil bulls . it is at $69. again, oil is pretty much back ds better results, after being at the lowest we had seen in a month. let's go to the gold holdings because of the bullion-backed a slump andeing there is a lot of spec

what stood out with morgan stanley? >> morgan stanley is a big investment banks on wall street.here they did their beat this quarter. they were up 20%, which is quite large. larger than other investment banks recover. -- underwriting fees, ecm, really drove it. bank morgan stanley helped bring ipo to market for. that helped morgan stanley and goldman sachs. ramy: let's expand this to the whole, entire earnings session. when we look at this next quarter, what will we remember? laura: goldman sachs have a new ceo. that is something that happened away from earnings, but david follmann will be the new ceo coming in. lloyd blankfein will be departing the day before, september 30. in terms of earnings, what the second quarter told us, the picture that emerged is that the universal banking model is here to stay. most of these banks, with the exception of wells fargo, having trouble keeping the asset cap down, they were the only bank that showed less loans compared to prior quarters. that was a strong point, having forward forsurged the commercial borrowers and consumer. as thesering ex

the fire started about 2:00 near hale and live oak north of morgan hill. thanks to a very aggressive attack on the air and on the ground, this fire is now 30% contained. we just learned the runaway horse is captured and safe. firefighters say they're going to be out here all night long putting out hot spots. as the winds pick up even more tonig tonight, they're going to bring more crews in. live near morgan hill, marianne favro, nbc bay area news. >> a lot of smoke in the air because of these two wildfires. take a look at our traffic cameras in san jose. you can see this one is burning, pointing towards santa teresa county park. you see a lot of haze and thick gray smoke. went gusts and hot temps not helping the situation. jeff is tracking the conditions and he joins us. >> wind definitely a factor. you can see we put another map perspective on both of these fires. all the activity happening from al meade does. winds right now coming out of the nougt at 25 miles per hour, blowing most of the smoke towards morgan hill and gilroy. it was in the 90s when the

morgan, citigroup tomorrow and bank of america and goldman sachs and morgan stanley reporting next week. there is pessimism surrounding the industry with the low bar when it comes to second-quarter numbers and analysts believe they have to report numbers in line with expect aegzs and potential surprises and they stem from a recent shift in the yield curve and a potential pickup in loan demand and a benefit from regulatory reform one problem stop could be mortgage revenue which they expect to decline year over year due to the impact of higher rates. the recent underperformance and the yield curve which has spent much of the last two years flattening and some investors are concerned that bank earnings have already peaked. even with pockets of weakness, banks could be poised to break out to the upside and the industry is trading at a multiple that's only two-thirds of the s&p 500 and 8 percentage points below historical levels, again, it's a very low bar, melissa. >> all right thank you, leslie. leslie picker in the news room we're going off the chart and robert schlimer is over at the pla

this fire is near morgan hill broke out about 2:00 p.m. this afternoon near the intersection of hail road and like oak avenue in santa clarra county. fire crews were on the scene -- clara county. fire crews were on the scene and several structures did burn as a result of this fire which has charred 40 acres are so. the good news is -- or so. the good news is crews seem to be getting a handle on the fire. several buildings including -- and cars have burned in this fire but she is telling us crews have gotten the upper hand on this fire. we are getting word of another fire in san jose park. cal fire telling us 20 acres have burned and there is a shelter in place for nearby residents. a busy day for fire crews there the south bay. >> hot, drive weather. we will keep an eye on that. >>> we will move on to tell you about it the sheriff announcing he is ending a multi million dollar contract with ice to house undocumented immigrants at the jail in richmond. henry, what lead to the decision? >> reporter: the sheriff said budget concerns and prote

just wrapping up an interview with jp morgan's chief here is mr. dimon's response when asked about what he thinks is the biggest risk to the economy. >> it's trade, if the skirmish becomes more of a war. i would say the reversal of qe, and i don't want to scare the public but we've never had qe, we've ferve had the reversal monetary transitions are different, governments have borrowed too much debt and people can panic when things change we tell you it's changing, we know it can change or it happens and it has some effects people don't expect, and i think it is bad policiesch bad policies lead to bad outcomes. >> let's bring in jim kramer on his mad money set. >> hey, guy. how you doing? >> classic jamie dimon, pretty optimistic and also back up president trump's trade policy but the trade war is a risk. >> but you know what, he said something in just a quote that i was listening to and it was a great interview. his advisers said there wouldn't be retaliation about this kind of trade war, and we told him there would be, and they're wrong. now, the

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stanley, morgan stanley. they had unique structural change that was underappreciated the stock then went up a lot the structural progression at morgan stanley is over, and now it's about organic growth. when it comes down to organic growth, we're going with goldman sachs over morgan stanley because goldman has grown organic revenues about twice as fast as morgan stanley >> get back to the citi thing. >> i don't disagree with anything you have said about the banks. and you haven't spoken to the ceos i think the ceos of b of a, of citi, of jpmorgan are the best ceos in the s&p, period. the most battle tested, have come through the brightest lights however, there's still some stocks that are held back by the old paradigms of valuation those are the autos and those are the banks. and i don't think they'll break through them so it's not that i hate the banks, that i'm negative on the banks. excuse me. just that i have other places to put my money where i think i will generate a bigger return. once citi gets more t

the trading business, morgan stanley took the right approach?i think this is a battle they fight every day. ,eclaring that the war is over this is something that will be ongoing. i would say when we keep the notecard and we take a look only at the trading revenues, as you reference to your with the recent ones, but also stock performance over the past few years, i would say that morgan stanley has definitely secured the lead. scarlet: that sounds fair. the question is can morgan stanley sustain this outperformance? what is your take on that, given the way it has reshaped of focus just on -- less on trading and more on wealth management? brennan: i think the shift they have made in balancing the business has been constructive. they did that in the middle of the crisis, and the ironic thing now is goldman is starting to shift itself. i would argue maybe a little bit late. they tried to hold on to the old business and the old ways, and have a consistent hand on the rudder, which in the past has 2009 and 2010. and of the fixed side back then, goldma

these are just two-lane marsh creek road and morgan territory road. it's pretty sticky getting in and out of there right now. the fire is at 225 ne week sinc an iowa college student with bay area ties was last seen in, and the fbi is now joining in the search for molly tibbetts. >> the 20-year-old disappeared after going out for a jog in brooklyn, iowa last wednesday evening. she was wearing a fit bit. local police have reportedly received information from the san francisco company, but have not specified what that information is precisely. >> authorities say they have not ruled out the possibility that she was abducted. tibbetts spent part of her childhood in oakland's glenview neighborhood before moving to iowa. >>> as we continue, here is a live look from our tower camera at pier 39. you can see the smoke off the in the distance, >>> now to another update on our breaking news from the south bay. a 25-acre brushfire has broken out in san martin near church avenue. >> this is a live look from our chopper. the image has frozen, but we hope it will res

morgan today? diana amoa and bob michele, you are sticking with me.going to check on treasury through the week. closing out last week with a yield curve, but it was flat at about 25 basis point. today we steepen. a steeper curve, very slightly through the end of the week. next up, the final spread, the week ahead. featuring a decision from the ecb and mario draghi. this is "bloomberg real yield." ♪ ♪ jonathan: i'm jonathan ferro. this is "bloomberg real yield." we are live from jpmorgan asset management. it is time for the final spread. next week, a rate decision from the european central bank, and we have a g20 weekend meeting of finance ministers. another round of earnings including european banks and stantec -- fintech. i am joined by bob michele. i want to go over your for conviction traits. do you believe the federal reserve will raise former times and then close? bob: absolutely. that brings the fed fund rate to 2.75% to 3% depending where inflation is. that is a real yield of about 0.5% to 1%. that is still generous by historic fed terms, but n

morgan asset management. china we go, where chinese markets ended the week on stronger footing. the yuan reversing an earlier slump spurred by the central move to weaken- daily currency fixing, the most since 2016. joining me to discuss china and emerging markets is a diana amoa, senior portfolio manager involved with emerging markets debt at jpmorgan, and still with me is bob michele. always good to catch up with you. your thoughts on china, and whether you have a handle on what is happening with the pboc and currency policy, and the things that have changed in the last couple of months? diana: what the chinese are doing is the right response. what we have seen is they stepped back from the currency. they are willing to let the market determine where the currency levels trade. -- themy they were stronger, but they are willing to see where the market is pricing it. that is the right response, it could likely be a growth shock. for the pboc it is the right thing. today we saw announcements they will allow some

so between morgan territory and gill. that's where the closure remains in effect in both directions. they said they may open at 9 a.m. that's a sliding scale. so we'll update you. in the meantime, we are starting to see a lot of slowdowns along marsh creek road approaching territory and those cars are having to turn around. 680 and 4 are still in the green. here's 4 near port chicago highway. a lot of folks are going to be on highway 4 today because they won't be able to use marsh creek road so factor that in for your morning commute. you will be sharing the road with a few more commuters. we're still in the green in both directions, 12 minutes from antioch to 680. >>> arson is suspected in a raging fire in riverside county. the cranston fire has burned more than 4700 acres near hemet. it forced evacuations for the town of idylwild and in several other communities. investigators arrested this man, 32-year-old brandon mcglover. he is accused of starting the cranston fire and several other fires in southern california. >> s

as morgan said, where is the intensity around the conversation.nversation with her has changed me in the way i think about it. just in terms of the urgency you feel. if you've got a body of water in their house, their house had the fence. they went to the neighbors. they weren't even swimming. it wasn't their thought. the other thing i wanted morgan to mention was little emmy was a fighter. she really tried. she was in the hospital for a full day. her pulse came back and there was hope for a time but she wasn't able to pull through. so her death doesn't even get counted as a drowning technically. so when you see these alarming statistics, they probably don't even capture it fully. they don't capture kids who die after 24 hours. they don't capture a near drowning, which can be as devastating in the sense that sometimes these children need lifelong care and never are the same again. >> like you said, who hasn't looked away for one second knowing that your child is there. you do something, and you turn back and they are gone. >> we all think they are

ings out the big a parade here morgan hill. the freedom run followed by a car cruise and then the parade. tonight you have the patriotic sing where kids sing songs of our country and fireworks on the green at the morgan hill outdoor sports center. we set a link on abc7news.com. it has all the details there for you. back to you in the studio. >> i'm glad to see you have lots of friends, matt. thank you. >>> there are more than 60 fourth of july celebrations happening all over the bay area. find a link to every one of them on our website, abc7news.com. you can also find them on our abc 7 news app. >>> for the fourth president trump and the first lady will host a picnic for military families at the white house. >> video from last year'amies a guests will be on the south lawn for music, food, and front row seat for fireworks over the washington monument. >>> a rough start for the fourth of july for san jose firefighters. they've been called out to at least two grass fires already. one at units arrived to find a one acre vegetation

j-r (ken) j-r j-r hill..from morgan he joins us live from morgan he joins us live 4's j-r stone .. we go to kron- but first, we go to kron- 4's j-r stone .. he joins us live from morgan hill.. j-r j-r hill.. j-r (ken) turning now to our four zone forecast. chief meteorologist lawrence karnow joins us now.(pam) lawrence .... firefighters battling hot and windy conditions today. lawrence karnow: it was mostly sunny and nice today with hot temperatures again inland. the summer monsoon continues to bring shower and thunderstorms into southern california. highs today were in the 90s inland with 60s at the beaches. on the satellite you can see the area of low pressure moving to our north. that will help cool the temperatures a little tomorrow but we will still have 80s to low 90s inland. more fog will develop along the coast and bay tonight. highs at the beaches tomorrow will also be cooler with fog and in the 60s with 70s and a few 80s around the bay. high pressure will begin to build in slowly and our temperatures will warm into the weekend. it will be muggy on friday with moonsoonal c

that's from morgan e. wer in e days.ton, anne utdowni between morgan territory and gill drive. we are also tracking slowdowns on westbound 24 due to an accident blocking the caldecott tunnel bore number 3. and 80 at ashby a "sig alert" remains in effect with three lanes blocked. that backup is well beyond highway 4. >> if you want a check of the march fire, current conditions the closest weather gauge is by mount diablo so gusts 24 miles per hour at the top of the ridgetops. high today in clayton 100. yesterday 104. right now look at the skies though above the clouds, it's warm. below the clouds in the 50s and 60s. afternoon highs today will certainly feel warm if you are anywhere inland look at that 98 in concord, 99 in livermore. >> if you are inland drink lots of water. >> thank you for watching. hope you're off to a good thursday morning. your next local update is 7:26. >> "cbs this morning" is next. >>> good morning, to our viewers in the west. it's thursday, july 26th, 2018. >>> police are investigating an explosio

morgan radford is following this story for us. good morning. >> les moonves is one of the most powerful and influential people in hollywood. the 68-year-old dubbed a tv programming wizard is the latest high-profileedia figure swept up in the me too movement. today, the "wall street journal" reports the cbs board is now holding a conference call to discuss his fate. thismoing, another media titan under fire. six women accusing cbs ceo les moonves of sexual misconduct. the new yorker reports legations rangingrom forcible touching or kissing to hysical intimidation between a 1980s and the 2000s. all of theen w say their careers suffered because they rejected his advances. four of them spoke on the record. including actress ileana douglas, whoay moonves forcibly kissed her in a meeting in his office in 1997. at it feels like to have someone hold you down. you can't breathe, you can'tmo ve. the physicality of it was horrendous, she said. douglas claimed she was later fired. theke new y reports it corroborateder story with numerous peop

morgan: i think the tea party wanted that coverage. they are frustrated with a slow-walking effort by the doj getting these documents out. and they were frustrated with the amount of redactions. howie: particularly like the "new york times" lead story on trump's tweets, why don't you view that as a distraction. they don't have the votes in the house to impeach rosenstein. morgan: this is what the tea party wanted. you saw jim jordan announce for speaker this week. for republicans in vulnerable districts, i don't think though love this story at all. but for the past 7 years, the loudest people in your party on either side, the people heart loudest are the ones who get the microphone shoved right in -- right in their face. howie: given it was never going anywhere should it have been covered as a p.r. stunt? bill: "mediabuzz." they wanted some media buzz before they left for the break. they wanted to help jim jordan and his impossible quest for speaker. there ain't going to be an impeachment and there ain't going upon a speaker jordan. pa

citi, problem. >> morgan stanley, equally problematic? >> sure. it's not just u.s., it's global banks. >> let's move on here. home builders on shaky ground, down 10% for the year. many of the biggest names plunging the last three months toll brothers, lennar taking 14 and 10% respectively, d.r. horton down 6% carter says one of these names has a chart that's so bad, it's actually good. so chart master, head over to the plasma. >> it's an opportunity or a trap financials look like they'll get as weak as the home builders have gotten. home builders as an etf down 12 1/2, 13% for the year i thought i'd single out toll. toll has done something it hasn't done in the history of the data going back to 1986, 32 years. it's declined at the end of today, seven months in a row never happened it's had a peak trough decline, 32.3%. compared to home building as a group, down 12 plus. so a three fold wipe out at some point you can be contrarian, i would think it's so bad it's good here is the toll chart over the past ten years since the '09 low. i want to show y

morgan first of the big u.s.at analysts estimates 13% trading much higher than is expected totally revenue 6% j.p. morgan beating the forecast for 11 straight quarters, obviously the stock is moving higher in premarket, pulled back a little bit a slight gain right now, so watching that stock we are looking at citigroup that came up a few moments ago mixed bag there, beat the street on earnings miss on revenue y'all talked about it shares of citigroup lower right now wells fargo, that company actually missed on earnings and revenue, the wake of the bank scandal. >> shares welcome back under pressure premarket as well down nearly 3%, right now, a lot of banks to watch when trading begins today, northrop grumman ceo stepping down, going to leave the end of the year getting by kathy warden anticipated afterwarden was he will invaded to oo last year 24' woman to run a fortune 500 company, the market swral more than tripled. >> stock down premarket down nearly 2%. all right, president trump reportedly wants to give air

morgan hill, 93. for the east bay, up to 99 today in antioch. we'll look at all of our microclimates coming up. mike, you're starting with a bridge update. >> earlier this morning, 1:00 in the morning, had a crash. this is westbound. you'll see cars going westbound. that's fine. it's eastbound, getting away from the san rafael side, to richmond, you watch, and hopefully as i talk, we'll see tail lights. we got word from chp, there you go, wanted to show you traffic is flowing over. traffic has been reinstated just a few minutes ago. chp gave us the all clear. we confirmed it. all lanes have been cleared after they cleared up the small fuel spill as well as the crash involving a semi. the richmond-san rafael bridge fully open both directions. the bibridge, no backup and no problems in the area on the maze or the approach. the big look shows you speed sensors are great all around the bay. i want to point out a couple hazard signs. in contra costa county, because of the fire. >> that fire is raging in contra costa county. triggering evacuations and

morgan.had the strongest result, the biggest bank by assets. year-over-year on strong trading revenue and the growth. addingans expanded after $200 billion in just three years. let's go to citigroup your the treasury business generated record revenue as trading slipped and the bank business abroad have been warning investors preferred -- investors. this incomew revenue fell more than expected. they reported 90% increase in stock trading but that trailed j.p. morgan. let's go to wells fargo which unfortunately continues to have the title of ugliest bank on the block. they have had a lot of challenges. it was another up quarter, tough for the bread and butter product which is mortgages. declined,t homeowner and they did have a positive in terms of the focus on net interest margin. that is the difference between what a bank charges borrowers and pays. they reported increase for the second quarter two beef analyst estimates. gtv is where you can find these charts. big bank profits, you see the in

goldman sachs, morgan stanley, looking at more. goldman and morgan stanley are considered the top advisers in m&a. this have been impacted by the uncertainty over the deals, but again it is expected they will report strong results. bank of america reporting on monday. this is a big focus. rank sixconcern, the in advising. we will look ahead to that . thank you very much. let's bring in region atlantic partner and director of research andy to talk about what we could expect in this new trading week as asia kicks off and looking ahead to the u.s. i smiled when i read this, sloppy and complicated is where the world is starting to be right now. andy: it is indeed where the world is starting to be. that is why we are seeing so much volatility. pretty substantial earnings growth around the world, not just the u.s. with the tax cuts, but everywhere, double-digit growth. emerging markets 25%, so why aren't stocks doing better? it is sloppiness. it has to do with trade wars. what is going on with tariffs and trade and who will sort of speak

the other fire, it happened about one hour earlier, the hail fire broke out for the south, north of morgan hill, some of the video the firefights, they immediately called for water, that some of the video of the firefights. some windy conditions, and cal fire ordered an air tinker which helped stop the flames from spreading. just run 2:00 this afternoon, quickly consumed outbuildings and cars, firefighters say they have gain the upper hand on the wind driven wildfire that consumed 40 acres in about half an hour.>> it is very windy, northwest winds, 15-20 go -- miles per hour, the gus, typically what we see what we have is whether. we met -- the gusts. >> reporter: one man helped save five sheet, and the horse was able to safely escape to a nearby field, firefighters say they kept the fire from burning homes, they have stopped the fire here, but 75 firefighters did respond, it was pretty wild, a firefighter pointed north, and we could see the san jose fire burning north of here, you can tell that this one has settle down, and we are not seeing large plumes of smoke north of here, but still

we'll be at 90 in morgan hill. starting to drop in gilroy at 88. numbers out of the upper 90s for the east bay, 94 in apartment i okay. 92 in walnut creek. sunshine by the afternoon along the peninsula. 85 in redwood city. the cool breeze in effect in daly city at 69. 60s through san francisco for tomorrow. and right throughout the north bay, warm in napa at 89. closer to the bay, notice the temperatures dropping with 81. changes still on the way by thursday and friday. monsoonal moisture, high pressure to the north and east of us. low pressure to the south. circulation will push in monsoon is thunderstorms to california. right now it looks like the heart of this, the way we're seeing it right now, would keep the best chance of thunderstorm activity to our south and east. big bear with 2.5 inches. mammoth lakes only about a quarter to just over a half inch. san jose is at zero right now. we'll watch it closely. monsoonal moisture can be picky when it comes to the forecast model and how things appear. we'll have our eyes fixed on the radar for any s

. >> morgan, thank you. > a chaotic seen in minneapolis as protesters shouted down a ptor announcing officers would not face charges for the deadly shooting of a man last month. this after dramatic ideo of the incident was released. investigators say the man was armed but his family says he was not a threat. nbc's joe fryer has the story. we want to warn you some of the video is disturbing. ne> reporter: emotions in molis are running so high a news conference by the county attorney lasted only minutes before protesters interrupted. they are upset over the death of therman blevins shot and killed by minneapoli police last month. today prosecutors announced the officers will not be charged. >> this family irt the family is devastated. >> reporter: this comes a day after the city released body camera vidm ryan kelly and justin schmidt. they were responding to a 911 call of someone firing shots in the air. when the officers awulled up to the scene they s with what they say is a gun in his pocket h e's got a gun. put your [ bleep ] hands up now. stop. put your [ bleep ] hands up. i will s

morgan and that was the first sell equivalent rating in about two years.nalyst cites ongoing weakness and print advertising. the price target is $10. the stockun closed a that level at 10.28. >>> still ahead, a new type of whisy sour. >>>tu ky bourbon distillers have a 25% f tarifm china and they're bracing for a trade war hangover. i'm contesa brewer coming up on "nightly business report." ♪ ♪ >>> elon musk is sending a team of engineers to thailand to assistn the rescue ofcc that boy's er team trapped in a cave there. the thai government confirmed that musk's engineers may arrive tomorrow and they may provide services for locatio tracking, water pumping or battery power. the team and its coach were reported missing late last month and they were found earlier this week deep in a cave where the passageways are narrow and flooded with water. >>> satellite company echostar drops its bid for a european rival and that is where we begin focus.'s market echostar said it won't continue to pursue uk-based inmarsat after that company rejected a $3 billion takeover

morgan territory is now open.there's no power out here but a firefighter told me the argument was they wouldn't evacuate a neighborhood because of a power outage, so there was no reason to keep that evacuation order in place in that area. so again, morgan territory is open, marsh creek, though, still a hard closure. they did turn the library into an evacuation center overnight to give people a place to stay who had been evacuated. more coming for us at 7:00 this morning. live in clayton, amy hollyfield, abc 7 news. >>> on a related note this morning, firefighters also on alert from flare-ups that shut down highway 101 in santa clara county. you can see where the fire broke out in san martin late yesterday afternoon. it's burned about 20 acres before fire crews had it surrounded. sky 7 flames damaged vehicles. thick okos10foedhp st wnhe southbound lanes for a while. no word on what started this fire. >>> new mandatory evacuations are in effect this morning for the rapidly growing car fire in shasta county. the flam

morgan territory is now open.ut there is no power so beware, the firefighters told me the argument was they wouldn't evacuate a neighborhood for a power outage so there was no reason to keep the evacuation order in place. so morgan territory is now open. the library did turn into a shelter overnight for people who needed a place to stay. the good news on this fire no injuries have been reported. we are expecting a briefing in a few minutes at 7:00. live in clayton, amy hollyfield, abc 7 news. >> thank you. >>> and firefighters are alert for flairups from a fire that shut down a stretch of highway 101 in santa clara county. they're watching things closely this morning. you can see here on our map, this is where the fire broke out in san martin afternoon. it burned about 20 acres before fire crews had it surrendered. sky 7 flew over the area as flames damaged vehicles as well. thick smoke from the flames blew across 101. at one point chp shut down the southbound lanes for a while. no word on what started this fire.

you can see temperatures 100 in gilroy, 98 morgan hill. hottest day tomorrow and things will moderate downward a little bit on friday and then by saturday and sunday, we'll get a break. but like you say, you guys, it's like clockwork around here. when we get big heat multiple days in a row you are going to see fires. we have had two today and -- well, two, you know, and more heat tomorrow. >> bill, thank you. >>> there's new evidence to suggest that there is water on mars. a european spacecraft has found what appears to be a large underground lake under the planet's southern polar ice caps. if those findings pan out, it would be the first discovery of a large body of water on the red planet and experts say it could potentially be a step toward possibly discovering life on mars. >> it can be either a lake or it can be wet sediment. so these are two different things. but when you're looking back at the same kind of habitat for life on earth, we know that both are equally important and suitable for supporting life. >> italian researchers spen

live in morgan hill rob fladeboe kron 4 news (vicki) new at five.... several arrests have been made after a car crash sent at least two people to the hospital this afternoon. it happened on polk near vallejo street in san francisco. police say three cars were involved in the crash that left two people hospitalized with non life- threatening injuries. officials say one of the cars involved may have been stolen. police are investigating the cause of the crash. (grant) this morning... federal agents served search and arrest warrants at multiple locations in the city of san mateo. the reason for the raids - is unclear. kron four's philippe djegal spoke with a target of the investigation... and neighbors who saw crackdown. (philippe) busted doors, a handful of apartments left in disarray. and, several people taken into custody.no name/suspect- "i was sleeping, i woke up, i looked through the window -- i seen like big ak-47." that's the voice of a man who lives here at the poplar arms apartments in san mateo. he says he was one of the focuses of the morning

morgan that he's talking about, and j.p. morgan, you talk about it being down to its highs, okay, but still, for the year with dividends, it's probably up 8-plus percent which is better than the market and even at this price. i think there is a lot of value here if we see a big gdp number tomorrow i think it's good for banks. >> my question, and i'm just throwing this out, what is a good gdp number do to the market is it bullish or bearish especially what he said to joe kernen that he's not happy that he's in this rate-raising cycle. it's fascinating to me i would say a 5% gdp is negative for the market and i've learned the hard way a number of times. >> negative for market or more negative for growth stocks >> growth stocks, based on what bob just said i think growth stocks would go down faster than value, but again, maybe a good gdp number is good for the market that's the environment we find it it's fascinating to me, though >> let's talk more about undervalued, overvalued. our next guest says facebook is undervalued here

we've seen a lot of bearish opportunities, morgan stanley. staying away from that, i like american express. >> if you're looking for a hot trade check out cupboard staple stocks like kellogg, sissoko, mccormick's, pepsi, up 14% from the low. brian taking the pepsi challenge. >> pepsi keeps it simple, too. the taerngs coming up next week. i want to buy a call it's expire next friday. you're either going to pay off or not due to the earnings play here i'm buying 110 call expiring next week, only paying $1.20 for this above 111.20 i'll have the upside potential in the stock here below there i'm only risking the $1.20 for that option here in this sense i'm risking a little bit to make and participate in the upside here and play it that way. >> is this the way you will play pepsi? >> so often going into earnings we talk about offsetting elevated premiums. pepsi on average the week of earnings moves about 2.2%. what are options implying a mav of 2.2% which actually means that options are reasonably fail priced you're not overpaying to make that bet

the morgan stanley chief plans to stay on for several years.a day and at tictoc on twitter, powered by more than 2700 journalists and analysts in over 120 countries. i'm paul allen. this is bloomberg. let's have a look at this down arrow story in turkey. much for that earnings optimism we had spurring the rally in asian stocks. this stock down 1.4%. rates fallinghore by the most in a week. the currency is edging toward the 670 handle. no relief coming through. chinese officials says that if the u.s. goes low, we will go high. on commodities, we are seeing industrial metals getting hammered. oil is on a retreat. brent is down 1.1%. let's take a closer look at the losses we are seeing in hong kong. tencent is among the biggest drag. sales slowing is a concern. its price target has been cut. developers have been under regarding property stocks in hong kong and china. that power flip from the united states, which included air-conditioners and refrigerators, an ac maker is down by 3.4%. is down by its lowest level since 2001. a bright spot when it c