how does that figure into morgan stanley? alison: for morgan stanley, the pipeline might be a little more important. some of the issues that bank of torica and wells fargo have relate to sort of the much bigger lending businesses, parts of their portfolios that are invested in longer-term bonds, so there is reinvestment risk. that is part of the reason they are bringing down the guidance. we are going to be looking at deposit pricing at morgan stanley. we've seen pricing coming up on the wealth side and deposit growth as well, but the trading business, the equity trading business, they earn more from that then any of the other global peers. david: we want to turn to paul richards now. are we snatching defeat from the jaws of victory here? these banks are beating on earnings-per-share, but we passed that to move on to interest income a bank of america. did 30 years in investment banking, and i think you are seeing these banks are waking up after a really tough first quarter, and that overhang of the fourth quarter that was pre

morgan says this trade is about to catch fire. we will show you the chart that could point to even bigger gain ahead. but first, we start off with the markets and the s&p 500 locking in its seventh day in a row and the longest winning streak since october 2017 and less than 2% away from the all-time high and check out the champions this week wynn up a whopping 18% and advanced microdevices soaring 14% and delta air lines jumping 12% and look at the macy's move up 12% so it would be a perfect time to play a little trade it or fade it we'll get right to it, guys. grasso, we kick it off with you, wynn, trade it or fade it. >> i'm going to say fade this one, but a lot of things have gone right -- >> macao gaming was up and that's the last push in this one. no china recession or earnings recession there, but i do believe that it's front loaded and you have to feed it at this point and it's a lot and the numbers are ready. >> we've been talking so much and i realize you're not ter believy sold on the global recovery bottom line, i think

and morgan wanted to go swimming. were having fun, just splashing around in the water. there were three other kids at the other end of the pool, two of them were throwing a ball back and forth. she wasn't able to verbally communicate and say, hey, i want to play, can ijoin in with you guys? so she hit the ball. so they quickly grabbed the ball and got out of the pool because it wasn't a normal way of saying, hey, i want to play. and the look on morgan's face was, dad, i don't understand, ijust wanted to play. and it saddened me because ijust wanted my daughter to be able to play. so where could we go? we couldn't take her to a water park because of certain circumstances of hers, and talking to others, we found the same situation. so how do we develop a place where those who have special needs and those who don't can all come together and play in a fully inclusive environment? and it was those discussions, those chit—chats, those meetings, they turned into what we now have here today at morgan's wonderland. that is so

morgan announced two major promotions this week. jennifer -- named chief financial officer while the outgoing cfo, has been named the new ceo of the consumer lending business. the most important business they are paired with lake considered by many as a possible successor for jamie dimon i asked about his plans for the future and white includes two women at the top. >> with you know lake is just an exceptional cfo. the brainpower, character, capabilities moving on to be the direct line for all -- and john was a co of credit card pay she's been there and become the new cfo and she has character and talent and brains and distrusted by people. it's a wonderful thing to move people around.it is fun for them, and the job for a while. that's why we did it. >> these two leading ladies i j.p. morgan, are you setting yourself appear to have a succession plan to eventually announce when you will step down? >> you know, i love what i do. and i have said, it is not for a while. but absolutely, i had to step down someday. and i want to make sure

morgan >> lyft threatening legal action against morgan stanley blaming it for fueling the drop after weeks ago. deirdre? >> reporter: melissa, this is a story that could have major implications for the banks involved and the other tech ipos in the pipeline. here's what we know so far on the first day of trade, lyft shares fell as much as 12% on its second day there was a lot of chatter about short pressure on the shares from pre-ipo investors despite lock-up agreements that are meant to block them from betting against the company. the next day, april 2nd, lyft's lawyer sent to morgan stanley, bet against the stock. and copied the j.p. morgan and morgan stanley tech investment banking teams, also the lead lyft and uber underwriters respectively the letter which we did get a hold of asks morgan stanley to stop helping pre-ipo investors short the stock and hand over a list of all shareholders who are doing so, all pre-ipo shareholders threatened legal action morgan stanley, as we're reporting, adamantly denies wrongdoing and a spokesperson telling us any suggestion it engaged in an effo

morgan chase today. the fact he did not bust ups on the banks back then is one of recent what are larger banks in this country today have enabled to accumulate that size and a footprint in the way they have. >> host: soaked too big to fail is not a new concept? >> guest: no, it isn't. the difference is that more in the recent past too big to fail were banks that he can bake over this major time of the past century and then required help from the government and the government provided that help as did the federal reserve. at the time back then they were either helping themselves getting some money from the government to help themselves but it was a bit more limited. >> before we leave this time, as a character in your book that we probably haven't heard of today, james stillman but he seemed to have this very influential law. >> james stillman was one of the leaders of what was called national city bank which now we know as citigroup. going back in time he was one of the major directors of the bank and fa

morgan. i think j.p. morgan's best of breed and their roe is head and shoulders above the rest of the peers and you get revenue diversification from them in the aum ref aum revenues >> i was talking to mike mayo. >> for the first time he said he's bullish all five banks that he covers. >> i thought mike -- who has been very negative, by the way let's be clear he's been bullish for the last couple of years. >> for a while, and i said you can make the same argument over and over again, quarter after quarter in terms of the strength of the balance street and the growth of the economy and the u.s., et cetera, but what is the catalyst to get these stocks moving higher? and he said interestingly, every few years all they have to do is not mess up and there will be a re-rating of the bank shares >> have they not messed up for the last couple of years. >> goldman sachs, absolutely messed up over the -- >> with the imdb. >> you could make the argument that wells fargo, all they've been doing for the last few years

morgan chase, citigroup, bank of america, goldman sachs, morgan stanley and so forth.we go into this century, not so much the beginning of it but the last decade and moving forward until banks stepped in to act as the financers for everything the banks were doing so when the crisis happened in 2008 the fed did this major permit in the federal reserve, mean that the bank did up at it and said well, thanks don't trust each other right now and created a crisis. number two, they don't trust each other even let alone feel compelled to give money to the small businesses or individuals at the rates we will ultimately give them which is zero. into the crisis we will come in and help them and create advocate money electronically in order to provide them with credit because we can but what happened was they did not just do it a little bit but took a situation, federal reserve in connection with the treasured apartment the major banks of the time and took him being that was considered to be an emergency what was going on in the fall of 2008 when there were basically a complete cr

morgan chase now you could trace them back too jp morgan and he was oe of the lead bankers from 1890. there wasas this line of individual families and banks the past back to that time. but also that was a time under teddy roosevelt administration where there is recession going on. there are times when the country is doing well for a couple years and then received for couple yearsei economically. to the point in the mid- 1890s the government talked about dependency had to call upon j.p. morgan to help them finance the budget. so that is what happened and that was a gift that j.p. morgan gave and in return he required influence over his years and that is how it started. in the 1907 was a huge impact and it required a lot of links to close as ultimately happened for 2008, almost a hundred years later. at the time teddy roosevelt administration turned to j.p. morgan again as they had in the 1890s and what can i do to help me. and what happened, the treasury department fashioned $25 million it was the first bailout of thanks that the government pay for and said to j.p. morgan here's $25 mi

morgan.ean banking index smashed through the moving average friday 10 against continued, especially for banks exposed to banking. 2%.shares are up nearly one of the biggest acquisitions, $4.4 billion in cash for a deal that will give more exposure to the market and digital advertising. tended to see them trade lower and concerns about whether they can absorb such a large deal but the concern doesn't seem to be there this morning. matt: thanks very much for that, dani burger with your stocks on the move. britain's chancellor philip hammond says prime minister theresa may has no intention of stepping down until a brexit deal is done. he spoke with francine lacqua at the world bank at the imf in washington, d.c. she started by asking if the chancellor would support a customs union if that was required to clinch a deal with labour? >> we've gone into these talks on the principle we agree with the labor tarp -- labour party we need to leave the late -- the european union. the on to that, week -- b

morgan. the only sector in the red was health care, insurers falling for a second consecutive session as we had congress debating drug costs. u.s. futures holding at 29.13. let's see the asian session. sophie: some of the optimism may be happening for asia. futures are narrowly higher and we are seeing the tone set in wellington. we enter a week that offers chinese gdp numbers and u.s.-japan trade talks in the wake of japan highlighting concerns over china's industrial policies when they held economic talks on sunday. also we get trade data in india as the r.b.i. governor warns the economy needs to grow faster to deal with poverty and challenges. indonesian trade figures due today i had up special elections on thursday. in sydney, more corporate updates on the line up there. luca production figures are due. japanese figures hinting at gains after the topix on friday capped its worst losing streak this year. it looks like there may be some optimism coming through from escawa electric. haidi: l

of morgan mr. gorman stanley because you mentioned in your testimony that you are talking about diversity. want more than just a comment, so i want to know exactly what is done to accomplish your diversity goals. that question is not only diversity goals within the firm, but with vendors, external investment managers that work with various morgan stanley platforms -- please be specific to what the goals are and please define what success is and how accountability is measured and tracked. >> diversity and belonging, and i use that word explicitly, rather than inclusion it critical to our institution. the sense of inclusion is that someone chose to include you and a sense of belonging is that it is your place. preference,r whatever your difference from the majority, you belong to,. that is why i was asking for specificity because access to your platform for minority firms, i want to know specifically what you are doing and what your goals are and how you attempt to accomplish those goals -- how do yo

pepsico and morgan stanley, both stocks are up, morgan stanley had a double beat on earnings and revenuealso better than expected on earnings and revenue. higher demand for snacks and sodas from pepsico. two strong ones this morning setting the tone for the broader markets. futures indicate a gain at the start of trading, up 31 points on the dow industrials, s&p 500 up 6 and a quarter, nasdaq up 27. yesterday markets were higher. the dow industrials were up 67 points at the close. >>.s&p 500 up 1 and-a-half and nasdaq up 24 points. in a asia overnight and in europe, we are seeing a better tone as well. european indices mixed, the cac in paris is up 114 an 14 and dax is up 35. in asia we had positive economic data out, gdp up 6.4%, topping expectations and the retail sales number better than expected. very strong on retail sales. that has the shanghai composite up a quarter of a percent as you see there. teeing up taxes, lawmakers in one state taking a swing at golf courses. we'll take a closer look at what that means for property taxes coming up. and then big changes to x-box, microsoft

morgan morgan stanley, and others talk about banking regulations following the 2008 financial crisis and their companies' lending practice. this is about 40 minutes. ms. waters: the committee will come to order. without objection, the chair's authorized to declare a recess of the committee ms. waters: the committee will come to order. without objection, the chair's authorized to declare a recess of the committee at any time. this hearing is entitled holding megabanks accountable, a review of global systemically important banks 10 years after the financial crisis. i now recognize myself for four minutes to give an opening statement. statement. i would like to acknowledge that bruce marks and the neighborhood assistant corporation members are here in the audience today. you're welcome. today this committee convenes for a hearing on the u.s. global systemically important banks. before us today as witnesses we have the chief executives from bank of america, bank of new york melon, citigroup, goldman sachs, jpmorgan chase, morgan stanley, and state street. at a previous hearing on march 1

morgan chase, morgan stanley, and state street. at a hearing on march 12 we had wells fargo then ceo before the committee to testify. before i begin let me urge our witnesses to speak for themselves, i understand that there is some attempt to get mrs reports to speak for everybody. we know that he is very smart, we know he has been around for a long time but this is not just to show today. the purpose of this hearing, is to review the extremities of this megabanks and examine how they are operated today. ten years ago, the ceo appeared before the very committee to discuss the financial crisis and the massive bailout taxpayers provided. a decade later, what have they learned, are they helping their customers, and working to benefit the communities they serve? or the practices of the things still causing harm? the u.s. g6 is a group has paid at least $163 million in fines. since the financial crisis a decade ago including consumer abuses and other violations of the law. over the course of the last ten years bank of america has paid 7

let's talk about jp morgan . -- welcome to "bloomberg daybreak." let's talk about jp morgan. their outlook also pretty solid. quality and the loan growth was going to be an issue for all banks, so any clarity on that pretty solid. david: this sort of sets the standards, so it will be curious to see more. does this set a higher bar for everyone? alix: is it the high watermark for banks? they are not going to benefit from the right cycle. david: kind of half-empty. alix: i don't know. nonetheless, jp morgan going to be helping optimism in the equity market, jumping higher exportsronger chinese and money supplies surging in china. we've got the fastest pace since 2016. all of that boosting risk appetite. global growth reflation story. risk on when it comes to europe, selling off in the bond market. crude up 1.5%. you had a megadeal this morning. anadarkogreeing to buy , a giant bet on shale and lng, signaling the future of big oil over the coming decade. chevron's chairman and ceo joins us now. congratulations on this big deal. walk us through what's this -- through what this me

morgan, back to you. >> that definitely teases us up for the key data point tomorrow.k santelli, thank you as million dollar houses meantime in greenwich, connecticut continue on go unsold, is the market a precursor for other u.s. towns diana olick is there live and joins us with more >> look, this six bedroom, nine bathroom center hall colonial is indicative of everything going bathroom center hall colonial isty thick of everything going on in the greenwich market today. been on for over a year. dropped to $4.95 and now a new agent is putting in at $4.5. it's all about changes to the tax laws that are hitting this market hard. >> it can be significant you're looking at $5 million, $6 million,s 7 million that pay $125,000 a year in taxes and now you can only write off $10,000 it impacts values but takes a while for buyers and sellers to agree on what that value is. >> sales were down 25% to a year ago. days on market, 214 and inventory up to a two-year supply for homes for sale. in other words -- >> it's a great buy right now. my buyers are getting awesome deals. i had

finally, there is morgan stanley. all right.s is hard it's reported a blowout divert yesterday. got a downgrade today. i thought it was quite wrong this was a magnificent top and bottom line beat the ceo topped expectations for both of his major business units, institutional securities and wealth management. the only sub unit below was investment banking business. another week or two later and you would have had that number way, way later i wouldn't be too worried about that business right now as morgan stanley was the lead underwriter on today's incredible zoom deal i think it's still worth own even after yesterday's terrific run. i think you can go much higher the group is doing better than we thought, and even after this latest leg higher, many of these stocks remain dirt cheap and getting revalue higher almost every day since they reported. much more "mad" ahead. we just mentioned the shares of zoom, and they are zooming higher could the move continue? i'm eyeing the newly minted company. >>> and five below, it's not a recre

especially morgan stanley and goldman sachs, which are leading that deal. now, the underwriting fees for mega ipos tendtop to be around 2. 5% on average chrks means the bank on uber's deal alone could generate a quarter of a billion dollar in fees the prospectus also showed a stake in uber during its second round of fundraising back in 2011 and another through convertible notes. four years later morgan stanley affiliates invested in uber in 2015 and 2016. in addition to the underwriting fees, those funds should generate massive returns once uber goes public >> once uber goes public, we saw what happened with lyft when it went public. it was a massive run-up. a big valuation. then all of a sudden it's lost nearly 40% of its value since the highs that we saw on the first day since the ipo down about 21%. how exactly does that play into the discussion about the ipo landscape overall and with, of course, the multitude of banks in the underwriting process for the big ipos coming up >> that's a big question pricing is more of an art than a science, and what lyft

we are awaiting frults morgan stanley. last of the big banks to report will it be able to keep up with jp morgan? up .8% stay tuned you're watching "squawk box" on cnbc there are people in the investment industry who hold themselves to a higher standard. they are called "cfa charterholders." demand the best. demand a cfa charterholder. cfa institute. cfa charterholders have proven themselves by passing one of the most rigorous exams in the world. demand the best. demand a cfa charterholder. cfa institute. let's measure up. >> goldman sachs ceo david solomon striking an optimistic tone he made those comments in an exclusive interview. time in china. >> i do think growth slowed around the world, and i do think the trajectory of growth slowed in the united states as we finished that 2018 it's clear to me that while the first quarter was sluggish, the second quarter is chugging along pretty well, and certainly we're at trend, and i think central banks around the world, including in the u.s. have become much more accommodative

morgan, for example. look at here's the p-e and here's the stock topped out right over here, around, just under 120 and the p-e at that time was about 13, 14, but now the p-e is just under 11 to me, that's way too cheap and that's where i think the value is >> so friday, i think we'll see not terrific earnings, but i also think that the stock should have fully priced that in. this is as cheap as it's been for a while and for me, the last reason that i love j.p. morgan is of course, you know, the best ceo out there. >> dan has a question. >> i preempted my question and i think you're speak toeg an audience of one and you pull up the picture and his name is jamie dimon. >> think he knows what he's going to earn on friday. >> can i ask you a quick question >> sure. >> you could have made this same earnings argument over the last season of three, four, five quarters when would be the catalyst for investors to break wake up finan say these are too cheap. >> i'm a way long-term investor and i just today looked

that's the bank of morgan stanley. ceo james gorman has gotten this place humming after less than stellar previous quarter i've rarely seen a chief executive two seems more motived to crush the numbers this quarter than this man. here's how you have to look at it basketball fans, you'll understand this. morgan stanley is kind of the university of men's basketball team of banks. last year they were beaten by the worst, by the lowest seed. never happened before. this year they won the crown i'm betting morgan stanley will do the exact same thing this earnings season. the bottom line, the banks are the group that sets the tone for earnings season, and that's a lucky thing because this time is stocks are coming in ice-cold, which means that they should be able to rally on even the slightest positive provocation let's go to shane in arizona shane? >> caller: boo-yah, jim, thanks for having me on today. >> my pleasure, shane, my pleasure. >> caller: real quick, i want to give a shout to my dad, a real fan of the show. he is

morgan, for example, tangible book in j.p. morgan is $57.60 today's close, j.p. morgan is trading two times price tangible book that is a heady valuation in this environment i think. now you can say they deserve it. that's fine. but how much more can it go in an environment where banks have effectively become utilities gold is trading around tangible book i can understand why goldman sachs is trading i just think j.p. morgan may be ahead of themselves. >> the balance sheets are in the best shape they've been in decades. yet, there are provisions for loan loss are very, very low that happens late. interestingly, the credit card companies popped last week you saw capital one coming to live, discover so there is rotation within the group and so forth but for the market going back to -- think about this to be unchanged for seven months and be up 1% for 15 months, basically, the returns and bonds are equities for 15 months, total return of treasuries and kofrpt corporates and you haven't been paid to be in equities 1% to 2%, if you put a sharper edge on the s&p 500, f

emily morgan there was already used to the spotlight on the small screen. —— amelie. already used tosmall screen. -- amelie. last season she took the gymnastics world by storm. the routines drew hundreds of new fans. and a stash of medals. it has been going for a while now. i think it is the insight into our lives and notjust of the good parts you see on social media and all the ha rd you see on social media and all the hard work and commitment we have to put into it to get the results. and results have been impressive. in the last year morgan won five junior european and 208 olympics medals as well as a bronze at her first senior british championships. she feels her tv experience helps i have had that exposure before and people know who i am so it helps a bit. it is also really nice to have the support behind me and all the people encouraging me. competition will never go away. but can she time those nerves and continue her medal winning form in poland this week? there was a possibility but if i don't come away with a medal i will not be disappointed. it is my first senior major and

first rule of show business, don't follow tracy morgan. >> seth: don't follow tracy morgan. >> wow. >u. >> seth: and this is a show that allows you to be in depth, conversational with your subjects. and you actually -- >> yeah. >> seth: you actually recently got the tracy morgan treatment yourself. >> yes. you've been on the show. fred's been on the show. >> seth: fred's been on the show. >> earlier adopters. thank you very much. tracy was a couple of weeks ago. he invited us over to his house. >> seth: yeah. >> beautiful home. brought our entire crew inside. and you know, tracy's got his quirks, and he's the best guy. and you go into the office to sit down for the interview. and we sit down and he said, "willie, did you notice anything about my office?" and i'm like, "it's kind of dark in here." he's like, "that's because it's modelled directly after veto corleone's office in the 'godfather.'" [ laughter ] >> seth: yeah. >> true story, complete with the shades, the blind are down. and it's like two -- you know, to the chair, it's all the same. and as we're talking, we're sitting down

gormen, chairman and chief executive officer of morgan stanley, who has been at morgan stanley since 2006 and has served in his current capacity since 2012. mr. brian t. monaghan, chairman and chief executive officer of bank of america. who has been at bank of america since 2004 and has served as c.e.o. since 2010 and as chairman since 2014. mr. ronald p. owe hanley, -- o 'hanley, state street corporation, has been there since 2015, becoming president 2017 and c.e.o. in january, 2019. mr. charles w. sharp, chairman and chief executive officer of bank of new york-melon who joined the bank and was apointed c.e.o. in 2017 and chairman in 2018. mr. david m. solomon, chairman and chief executive officer of goldman sachs, who has been at goldman sachs since 1999, becoming c.e.o. in october, 2018, and chairman in 2019. without objection, your written statements will be made part of the record. before we begin, i would like to swear the witnesses in. would the witnesses please stand and each raise your right hand. do you solemnly swear or affirm that the testimony you will give before this c

there was a person or banker at the morgan bank at the time. he said to president trump eisenhower in a letter if you create a tax system whereby those of us -- he was rich. they have less money and can keep more of their money. they have more money have to pay a bit more money into the system ultimately you have a stronger economy. he was working at one of the major banks. he advocated this kind of a more proportional tax system because he believed the more money was actually in more peoples pockets throughout the country. the better ultimately the entire economy would be. it would left those people and all of the business owners and wealthy people at the top of that. that's one thing inside the philosophy for the highway program. it wasn't the only thing. he listened to people that communicated a lot through letters and he took peoples opinions very seriously. this was something that worked to the benefit of the country and pusslated bulldozed members. >> all of the national archives and administration librairies from fdr through carter have

morgan chase, jacob frankel.f and the world bank, this is bloomberg. ♪ ♪ good morning, everyone, bloomberg "surveillance." francine lacqua and tom keene. this has been a fabulous conversation, open ramin and catherine mann, and on we go to various dignitaries. -- lupin rahman and catherine mann, and on we go to various dignitaries. it has been hours since we last saw dr. frenkel. francine: when we look at the end of monetary policy and the fact that it is being extended, what does that mean for global growth? the end of monetary policy deserve some clarification, so you main lengthening -- mean lengthening the period we will have low rates? francine: yes. jacob: though rates by themselves will not create growth. by themselves will not create growth. it has been now 10 years and monetary policy has tried to give the space in the room for those other policy instruments to come up. as long as the other policy instruments do not come in, monetary policy alone will not do it. low interest rates that are exceedingly lo

hill community center live in morgan hill road flood kron 4 news. >>one person is dead 17 others are injured after a gas explosion in north carolina. this is what's left of a business in downtown durham. not much police say the explosion happened shortly after 10 this morning when a contractor digging under the sidewalk 82 inch gas line. a firefighter is among the injured he is seriously hurt but expected to survive. again one person died 00:06pm tonight are listed in critical condition. >>the new sales first transit center it has been closed along with and it's been open the 7 months later repairs are still being made after to crack steel beams were discovered last september today engineer spoke with khan for charles clifford about those repairs. >>and when the transit center might actually reopen. >>well on wednesday the transbay joint powers authority gave the media an up close look that some of the repair work occurring here at the transbay terminal now you might recall the last fall cracks were found in one of the steel girders in an overpass a

. >> that, of course, was morgan brennan. i'm brian sullivan welcome to the "closing bell." great to be here we've not seen a market that's moving much today. one of the rare days so far this year with the s&p up about 17.5%. the averages there are mildly higher the dow fractionally lower i mean 0.04% so one of the rare days we've had this year with a little bit of calm out there. >> markets may not be moving, but we're moving a lot of news to bring to you today, including some stuff out of d.c sara eisen is in washington with a big interview with steve mnuchin. and we'll start there. sara >> hi, morgan. the news of the day, trade talks continue between the u.s. and china. this was the first time we got to hear from u.s. treasury secretary steve mnuchin on how his call went with the chinese premier liu last night here's what he said. >> it was very productive. ambassador lighthizer and i have been conducting these meetings on an ongoing basis. and i think he and the entire ustr team have been doing a great job. we have an enormous amount of staff at ustr and in the interagen

we'll be right back, with tracy morgan, everybody.a good throw. [ cheers and applause ] ♪ (mom) i pay too much and this phone is terrible. (paul) you should really stop overpaying for wireless. (sprintern) and upgrade to the brilliant iphone xr with sprint. (sassbot) yup, both an unlimited plan and iphone xr for just $35 per month. (mom) wait, both for that price? (son) both? (dad) both? (baby) both? [gasp] (mom) her first word! (paul) and you get both on sprint's network built for unlimited. (vo) switch and get both an unlimited plan and iphone xr lease for just $35 a month no trade-in required. for people with hearing loss, visit sprintrelay.com this is you shopping. and this is you maximizing at t.j.maxx. when you get more you for your money, every time, it's not shopping, it's maximizing. maxx life at t.j.maxx what sore muscles? what with advpounding head? .. advil is... relief that's fast. strength that lasts. you'll ask... what pain? with advil. pringles wavy. with a big new crunch and totally different flavors, they're not real

and that is the situation that jp morgan and the other large financial institutions are in.list system and when business is booming as it has been for the large banks in part because of president trump tax cuts then they have the duty to pass down the benefits of the profits to the employees making the profits possible. >> so what do you think it will take to have a jamie dimon raise that wage? >> well, he promised that he would think about it. he proo-- he repeated that seve times and he's the chair of the business round table, the nation's largest ceos and i took him at his word and i expect him to be thoughtful about it and think about what he can do to make sure that everybody who is working full time at his $2.9 trillion bank is able to put food on the table and make sure they have an apartment and they could afford medical and take care of thi-- of their children and i expect him to show leadership and he said he's a leader in the business community and i expect him to show leadership in this issue. >> did you explain that patricia was a hypothetical, was he clear on t

in terms of the big one, this is by far the worst you could pick jp morgan or city, this is somethingrong. it trades very poorly. i think to your point speaking of regional of the big banks, it is the most regional unlike jp morgan which has a lot of businesses this one has less of that. less of some of the investment type business. it is like a super regional of sorts. >> would you manage the trade in that right after earnings? >> listen, we do this all the time the way we do earnings and long premiums, it is a hard way to make the money if you got that move, friday you may consider taking some of that off right away the other reasons why i chose may is that i also want to give myself some time maybe the stocks open up a couple percent but then it fail. you don't want to do weekly into events because it turns into a binary situation >> for everything "options action," check out our website you can sign for our newsletters. it is like you die in winter options. what more can you want here is what's coming up next. >> the cabs are here because lyft options just started trading. after a

morgan says this trade is about to catch fire.that could point to even bigger gain ahead. but first, we start off with the markets and the s&p 500 locking in its seventh day i

morgan, wells fargo, and now morgan. extent does this read into the question of economic growth in the united states? that is to say, that the environment is conducive to banks doing well? >> so we had the big impulse from the tax reform, but also from the fed moving interest rates and people thinking about the interest rate margin improving. that is the sort of tailwind that has disappeared, and that is obviously going to be more important for commercial banks the goldman sachs, but it is going to be for everybody. that means they have to drive revenue and profit through some other means. lisa: i was speaking with charlie peabody last week. he said if we look under the starting to see some deterioration in consumer credit. that mean to you with was back to the economy? we will parse the data and maybe get some information there. very this cycle has been long going, and we had a build , likecredit stock-price loans with meaningful deterioration. you should never say this cycle is like 2007 or like that, but there are lim

gorman of morgan stanley, you mentioned in your testimony, you were talking about diversity. and, you know, i want more than just a comment so i want to know exactly what is done to accomplish your diversity goals and that question is not only diversity goals within the firm, but with vendors, external managers, please be specific to what the goals are and please define what success is and how accountability is measured and tracked. >> congressman, diversity and belonging and i use that word explicitly rather than inclusion is critical to our institution the sense of inclusion is somebody chose to include you. sense of belonging as it is your place. you belong there, whatever your gender, whatever your color, whatever your preference, whatever your difference from the majority that you belong that is -- >> that's what i was asking for specificity. access to your platform, for example, from minority firms, i want to know specifically what you're doing, what your goals are, and how you attempt to accomplish those goals >> congressman, we have a number of initiatives working wit

but i begin you will consider maintaining the entire julia morgan 1938 package of the project.ank you very much. >> thank you -- >> there's a picture of people in the lunchroom. >> next speaker, please. >> good afternoon, commissioners i am president of the four seasons residences owners association. we have 120 residents in the building and on behalf of the board, we're supportive of this project. let me tell you why. first of all, i think taking a historic building and doing it with an adaptive reuse that isn't offices is amazing. we managed the presidio and there's nothing more amazing than seeing a historic building conserved and put back to use in a fun way, and i think they've done a great job with that. the sponsor came to the homeowners meeting and presented and worked with us on what he is presenting and planning, and we feel that it enhances the pedestrian walkways. we think that it is a very dangerous intersection between stevenson and third and we are working with them on reimaging all of stevenson to a much more consistent and modernized look, and i think that havi

the most intense one is morgan hill. north 24 and fso west at 20.gan hill to santa cruise mountains going north ward, you can find cooler temperatures. that's going to be the theme once we get the showers come through. either west north or northwest. cooler there and some there are some chain controls on 80. also right there in the mountains this is cool air coming in. 60s and 70s. more of a northwest wind. sunny and breezy wednesday. another system doing the exact same thing thursday. that will be a bigger deal from the sierra. for us, the breeze is the main story here. we have a mix of sun and clouds and also breezy conditions. still okay. >> all right, steve. time 5:50. a deal between the major league baseball and the cuban federation has been canceled. the reason the trump administration pulled the plug on the deal. i'm jimmy dean, and only one thing can make a morning like this any nicer. a hearty, hefty, good tasting breakfast. with eggs, bacon, sausage, cheese and taters. and when you finish, you know you had something to eat. did you know co

mark morgan, former u.s.r patrol chief under president obama, talked about the crisis. >> this year over one million, like you suggested, but because of our broken laws and because 65-70% are families, we allow them in the united states. 700,000 this year we're going to let into the united states, and we know that 85% of them are filing false claims. how is that not a crisis? lou: president trump today slammed the politics behind the mueller witch hunt. >> this is dirty politics, though. this is actually the treason. it's a very bad thing that people have done. and i just hope that law enforcement takes it up. lou: and here's a quick look at the national debt. are you ready? if $22.2 trillion. and climbing quickly. that's it for us tonight. thanks for being with us. former kansas secretary of state kris kobach, general jack keen and pastor robert jeffers here tomorrow evening. a reminder to like me on facebook and follow me on instagram@lou dobbs tonight. see you tomorrow. good night from new york. ♪ cheryl:

jp morgan was like what a bar. but down four? maybe they sent someone downgrades, i don't think they do >> we're nowhere near being done bank of america tomorrow morgan stanley on wednesday. amex on thursday afternoon. >> how do you -- how does anybody really flow back to banks with rates where they are. we'll talk about the president again going after the fed but like -- >> jp morgan made a lot of money on the curve. >> they did it was good numbers. >> the president is going after the federal reserve again as you saw over the weekend in a tweet he said if the fed had done it's job properly, which it has not, the stock market would have been up 5 to 10,000 additional points and gdp would have been over 4% with no inflation. quantitative tightening was a killer should have done the exact opposite over the weekend draghi expressed his concerns saying a loss of its autonomy could undermine credibility. kudlow is saying that he's looking to disrupt i think there's an element where david don't you think, a little showti