commissioner morgan. morgan: commission -- mr. johnson, and members of the committee, thank you for this opportunity to appear before you today. i would like to begin with a story. on may 30, border patrol agents from the del rio sector saw a group of undocumented migrants crossing the rio grande in texas. the agents watched as smugglers watched a paraplegic man take you to the river and callously threw him in. the paraplegic man immediately began to drown fighting the strong river currents. agents reached the drowning victim and safely brought him to shore. had agents not been there, he would added to the 172 deaths discovered along the southwest border and desolate locations and rivers at the complete disregard of human life at the hands of smugglers. this is one of more than 4000 rescues performed by cvp this year with border patrol leading the way. this is who the men and women of the united states border protection are. they risk their lives every day to help and protect whomever is in distress. they do not ask the person's n

morgan: no. senator: when you support the program of a processing to allow asylum-seekers to avoid making the dangerous journey to our southern border? mr. morgan: yes. senator: why? mr. morgan: you talk about, sir, the root cause. identifying the root cause. we have to stem the flow. asking someone to either claim asylum, apply for asylum in their home country for the first country they come to outside the country they are allegedly fleeing persecution from, will do just that. it will stem the flow. the overwhelming majority that come to the border that are claiming fear are found to be unsubstantiated. they did not come here with respect to the technical definition of asylum, persecution and fear of persecution based on race, ethnicity and religion. it would absolutely, almost overnight begin to stem the flow. senator: when you approve this message? i know this is not necessarily your expertise. ms. costello: that is what i was going to respond. the situations outside this country are beyond ou

kris sanchez joins us from morgan hill. police say they're closing in. >> reporter: just on tuesday that crew of fiv women walked into in ultimata store here in morgan hill, loaded up on as much as they could grab and ran out to a getaway car. it was the eighth such robbery in just the last six months. here they are in the act on tuesday. you can see their faces pretty clearly. morgan hill police tell me they have identified two of those women and working to i.d. the other three. police tell me the same crew is behind the eight other robberies off highway 101 in morgan hill and they look like the same people behind other robberies at other ultimate r.a. stores in the south bay, the peninsula and east bay. each time they have stolen between $3,000 and $5,000 worth of goods getting into and out of the store in just minutes. >> it's very blatant. they're coming in and they know exactly what they're looking for, grabbing as much as they can, either in arms or in shopping bags, loading up and running out. >> reporter: sergeant b

our morgan brennan has more on the billionaires you've never heard of morgan >> reporter: hey, carl,hat's right. we talked so much about this billionaire-led space race, whether it is elon musk's spacex whose launch pad i'm standing at or blue origin, sir richard branson's virgin galactic, but they are not the only ones plowing major money and resources into commercial space. f fati and aaron osmond behind the sierra nevada corporation are the other billionaires funding space. >> the vision in general has been the stuff of innovators so our claim to fame is that we can come in and challenge the status quo and bring affordable, innovative solution. >> reporter: theirs is the story of the american dream. turkish immigrants who came to the u.s. with virtually nothing. the osmonds bought out their small employer in 1994, using their home as collateral, building a defense heavyweight that competes against the primes, growing from 20 employees to 4,000 snc expects to generate more than $2 billion in revenue this year but for the past decade, the osmonds have been investing in another big b

so start with morgan stanley buying the july 26 calls, 26 expiring calls, the 45 strike in morgan stanleyhat is just out of the money from where the stock was trading before these hit 3,000 of those were bought, they paid about 75 cents. and i think that they are just looking for the entire cycle -- we talked about the anticipation of earnings. and you just wonder where that level is of optimism right now and maybe the banks can actually beat something or impress people enough that they can still continue to make a move to the up side. so these 45 calls are pretty interesting. 3,000 of those were bought here is the next interesting thing. jpmorgan, they bought 3,000 calls there. they went to the july 26 expiring calls as well but they went to the 1116 there. trading 114. they paid about a dollar for these calls. so 3,000 here, 3,000 there, both of these two financials, morgan stanley on the 18th, jpmorgan on the 16th, so clearly earnings are in the target of where they are looking. a i like what we're seeing here. i heard a bit of the guys were having sounds like they are getting more bul

downtown here in morgan city, it is a ghost town. but the mayor says 90% of people decided to stay here, refusing to leave. we are on the river wall. this protects the city from the atchafalaya river, which tonight has risen three feet because of barry. barry arrived as a hurricane and was downgraded almost immediately. it is now a slow-moving tropical storm that promises to saturate the bayou state. louisiana governor john bel edwards. >> this is just the beginning. i ask everyone to stay vigilant and be safe. >> reporter: high winds damaged this home in saint mary parish. even in these wind conditions, crews were out cutting down snapped trees. >> we got telephone polls knocking down, trees that hadn't been trimmed in a while and they start coming down. it's just been a nightmare keeping electricity on. >> reporter: frank grizzaffi is the morgan city mayor. >> the river here in the city was predicted to go to nine feet. it's at ten feet. so, we need to get this water to get out of our city so we can get back to work. >> reporter: m

alix: if you are a morgan stanley -- david: if you are a morgan stanley shareholder, what do care about we've seen some likeness in trading, but which do you care about, growth management or equities trading? about thecare more growth management. things were probably we getting for the equities trading business exiting the quarter, and maybe analyst estimates didn't catch up that much. i will be focused on the opportunity from a competitive standpoint where they've really gained the most chair across trading over the past few years, with deutsche bank now seeing their pullback. that seems like an opportunity longer-term, and i think that is more important for business. alix: wrap altogether for us. we have all the big six banks out. what is your big take away so far? alison: muted trading environment. estimates probably coming down out of this quarter, just because trading, we got a little bit of excitement at the end of the quarter, but that -- thately s immediately sated. the revenue environment has weakened. it comes down to cost. we haven't seen the cost numbers yet for morgan stanl

morgan stanley, big trading company as well.ank you so much with the latest on the bank earnings season. we will have plenty more ahead on daybreak australia. this is bloomberg. ♪ shery: online shoppers are trying to take full advantage of amazon's two days of mega sales for prime members. internet searches for canceling amazon prime were 18 times higher on monday as the sales begin, suggesting many shoppers are signing up to cash in on the discounts and then immediately trying to back out for a long-term membership commitment. let's look closer with spencer soper. what does this mean for amazon then? spencer: it is tricky news for amazon. they have enjoyed rapid prime member growth. once they lock in a prime member, they can count on that for more sales through the year. the typical prime member in the u.s. spent a little more than twice as much what i nonprime member does on amazon. prime, even though it is a big tale of deals, the revenue they make is not as important as a new prime member sign-ups because that is where the r

race with morgan stanley.loomberg. ♪ taylor: jp morgan is pushing its use of artificial intelligence beyond investment banking. the asset management arm is planning a strategy to invest in machine learning hedge fund. this is according to persons familiar with the matter. it will operate within jp morgan's $15 billion fund of hedge fund business. we are joined by bloomberg's hema parmar. what is the purpose? walk me through this. hema: machine learning is what they are focusing on. jp morgan calling it a fund of hedge funds. it will invest in hedge funds, specifically machine learning funds. unclear how sophisticated a machine learning they are seeking, but they can be more emerging to more established. it is really the next push for jp morgan alongside morgan stanley which have been investing a lot in these kinds of technologies using a.i., machine learning. they have been hiring up quantitative talent as well. really interesting to be investing in a fund of machine learning hedge funds. taylor: i remember in

has on the broader market >> to some degree, yeah, morgan.the more the story about the market is, let's just buy big companies with stable clothes and long-term growth profiles, because bond yields are low. in other words, if it's just about that kind of quality and defensive trade, a stock like apple will do fine and that's been the story of the recovery the more it's about what are the earnings catalysts, exactly what's the pace of growth from the next few quarters and it becomes a little bit more like, i'm not sure we can get past these valuations right now and i think for apple, and to a lesser degree, the rest of f.a.a.n.g. and the overall market, sentiment is kind of cautious right now you only have half of apple analysts recommending it at the moment >> you can see a lot of the big tech companies going to this apple with the apple goldman card is the market taking that into account? do you think there's so much focus on services, but perhaps finance services could be sort of an -- an attractive point for apple apple? >> and it is and i

morgan chalfant. ist: -- guest 1: one thing will say is the term collusion. mueller's report said he did not evaluate collusion and it's not legal. heevaluated conspiracy and justified coordination. chargeestigation did not anyone associated with the trump campaign with conspiring with russia to interfere in the election. but mueller does no members of the campaign welcomed wikileaks email releases and sought more information about them. it is more than a black-and-white issue of whether the camping conspired or colluded or coordinate it with russia. it's looking at what he found in hows of the contacts, and how you is focused on make it so that this sort of thing does not happen again in terms of a foreign government. how we are both laws so that we report. that could be part of that interference. hearings -- mueller hearings. pres. trump:, no i won't be watching. i won't be watching mueller, because you can't take all of those bites out of the apple. we had no collusion, no obstruction, no nothing.

world cup champions, alex morgan and megan rapinoe. this week in unnecessary censorship and music from taylor bennett. and now, step aside. jimmy kimmel! [cheers and applause] ♪ >> jimmy: thank you. hello, everyone. i'm jimmy. thank you for watching, thank you for coming to join us. thank you for everything, really. this is, well, i'm glad you're in a great mood. because today we celebrate one of our most cherished holidays in this country. today is 7-eleven, also known as free slurpy day. [cheers and applause] although, you know, any day can be free slurpy day if you drink them fast enough. people love this holiday. they've been doing this for 17 years now. and it's much more popular than 7-eleven's other big promotional holiday, free wrinkled tiny hot dog that's been sitting out since the bush administration. i believe that's october 8. today's the day you spend hours waiting in line for a slurpy for free, or you can pay a dollar any other day and get one in like two seconds, nothing against slurpies. as a general rule, i don't drink

to the fullest. >>> we are back with tracy morgan.:00 et, on abc. you did saturday night live for years. >> live tv, i don't know, man, it's awesome. it's awesome. >> jimmy: do you kind of want to do something crazy on live conversation? >> yeah. i'm trying to get the government's attention. i have to fix this. >> jimmy: what is it -- >> hanging out with this dude from north korea. i had to slap him in the head. what are you doing? >> jimmy: you think that would help? >> i know it would. look at me. look at my face. north korea don't want to play with me. >> jimmy: you'd be in front of the greatest athletes in the world. who is your all time favorite athlete? >> uncle moe. all city boys and girls high school in brooklyn. >> jimmy: basketball? >> yeah. moe. moe. that's my uncle. that's my uncle. he made the contribution to me as a man. >> jimmy: what contribution did uncle moe make? >> being a man about it all. when they say they late, man up. when they say this is your baby, man up. >> jimmy: that's what uncle moe told you? how old we

tracy morgan host the espys, the espys live wednesday, 8:00 here on abc.ught to you by amazon's prime day. visit amazon.com/prime day on july 15th and 16th. due to afib not caused by a heart valve problem. so if there's a better treatment than warfarin, i'll go for that. eliquis. eliquis is proven to reduce stroke risk n . as significantly less major bleeding than warfarin. eliquis is fda-approved and has both. what's next? sharing my roots. don't stop taking eliquis unless your doctor tells you to, as stopping increases your risk of having a stroke. eliquis can cause serious and in rare cases fatal bleeding. don't take eliquis if you have an artificial heart valve or abnormal bleeding. while taking eliquis, you may bruise more easily and it may take longer than usual for any bleeding to stop. seek immediate medical care for sudden signs of bleeding, like unusual bruising. eliquis may increase your bleeding risk if you take certain medicines. tell your doctor about all planned medical or dental procedures. eliquis, the number one cardiologist-prescribed bl

jp morgan -- cheap stocks. between value and low volatility stocks. christopher: i have been saying that for 10 years and probably been wrong. tom: you are on air. christopher: exactly. value will have its day. i don't think it is structurally broken. since 1920p stocks or whenever it goes back to you, has worked and we think that will work again. nejra: what kind of sector rotation are you expecting below the surface of low volatility? christopher: we are not allocating on a sector by sector basis. we are looking generally at industries where companies can create for themselves a sustainable advantage. that is what we are looking to buy, at good prices. telecom, industrial, media, health care are some of the big ones. tom: i want to bring up the ibbotson chart from yale university. i do it with a dow going back, slope matters and price change matters, obviously the depression. we get on trend and we are not above the 2000 surge that we had. we are by no means equivalent to 2000, do you agree? christopher: the

morgan chalfant. barr has initiated his own investigation into whether surveillance on the trump campaign was adequately predicated. extra newgiven him authorities to conduct that investigation. that has just gotten underway. he has tapped the connecticut ag to undertake that. we will probably hear more about that in the coming months. host: morgan chalfant is national security reported with the hill newspaper. andrew desiderio a political reporter >> the u.s. house today will be considering a number of bills, including several dealing with veterans' health and housing programs. also today, a resolution stating that congress opposes efforts to boycott israel because of israel's treatment of palestinians. the house will be back for legislative business at 2:00 p.m. eastern today to debate those bills. votes expected at 6:30 eastern. when the house returns, live coverage here on c-span. and we also want to let you know, later in the week the house is expected to take up legislation setting minimum stand

morgan asset management.t citi looking at the fact it missed analyst estimates even though michael corbat warned trading would be a problem. if you look at all the estimates for trading revenue on the big u.s. banks, they're all expected lower than the same quarter last year. is this a concern for you? are banks a losing proposition, and is that therefore a bad time for u.s. stocks? >> obviously there's one large u.s. bank i am not in position to talk about right now. but more generally, volatile, if we think about volumes and participation in these markets, there's been a lack of conviction, if you like. s&p 500 making new highs, but not a great deal of follow-through. and the treasury rally taking yields below 2%, looking fairly mature. it is no surprise you get this quarter on quarter with numbers. mean itnecessarily suggests a broader problem in the u.s. economy. growth in the u.s., inflation is holding up around trend or slightly above. inflation, although it is not where the fed would like, is reasonabl

story is for jp morgan.y good feature story talking about jp morgan entering china, taking on icbc. talk is about what this is. sonali: i love this visual. you always think of jp morgan as the world's largest bank, but icbc actually is. it is a behemoth. what jp morgan has that icbc doesn't is it is a global bank. as they look for growth abroad, maybe they can do it. david: jamie dimon was complaining about u.s. regulation, saying the really big banks are over there, and pointed at icbc. those are the big guys. sonali: after the crisis, icbc really double down. it is more of a lending venture than an investment bank like jp morgan. alix: why would it be jp morgan competing with icbc and not other banks? sonali: well, it is bigger. morgan stanley is another bank that was to double down. asia is one of their priorities this year. asian technology companies are just as important to them as the faangs. there's a lot of things about jp morgan's business model that fit quite well, plus the ability it to to bring g

this time with alex morgan jumping on her back. morgan, by the way, will be our guest in a couple weeks on sunday "today" the team returned home with the cup in hand to a week-long hero's welcome from an infection, human papillomavirus i knew that hpv could lead to certain cancers. i knew her risk for hpv increases as she gets older. i knew there was a vaccine available that could help protect her before she could be exposed to hpv. i knew. so i talked to my child's doctor. now that you know that hpv can lead to certain cancers, don't wait. talk to your child's doctor today. whooo! want to take your next vacation to new heights? tripadvisor now lets you book over a hundred thousand tours, attractions, and experiences in destinations around the world! like new york! from bus tours, to breathtaking adventures, tripadvisor makes it easy to find and book amazing things to do. and you can cancel most bookings up to 24 hours in advance for a full refund. so you can make your next trip... monumental! read reviews check hotel prices book t

in morgan city. thank you. >>> all right.up, millions under threats of flooding as hurricane barry bears down on the gulf coast. more live updates from the ground, next. >>> this is cnn breaking news. >> hello again, everyone. thank you so much for joining me this saturday. i'm fredericka whitfield. this breaking news. barry is now a tropical storm. take a live look at morgan city, louisiana, where you see the impact already being made there. right now the storm is carrying maximum sustained winds of 70 miles per hour. this is what the flooding situation looks like in lafayette, louisiana. and it's not just people dealing with the effects of this storm. animals are also battling these rising waters. deer right there. earlier we saw horses being rounded up.

morgan, morgan stanley generally at the top.end to be bigger than the other companies, and that is from getting leading roles on deals. lisa: the other thing that is interesting is they are investing -- is the investing and lending unit was also a big driver of profitability this quarter. they talked about how investing and lending was up 16%. this is where they invest their own principal rather than just helping expedite deals into the market, but interesting to see how that unit is the second-biggest revenue earner among the divisions right now. have they been expending that? alison: yes, and i think that's where we got the big surprise this quarter. investors tend to discount that a little more than other segments because it tends to be lumpy and volatile and not as much of a recurring revenue source. the other interesting thing is the extent to which people are really focused on the interest margins. that's less of a factor to goldman right now, but we will want to hear more about their digital effort. they've been doing hir

morgan silver we got people around the world over because we knew j.p. morgan was short solver and if enough people took delivery of solver it would bankrupt j.p. morgan and put jamie dimon on the street what happened when the price went from $15.00. 50 went to this incredible high based on cars a report and press j.p. morgan buy silver was that the regulators in the comebacks allowed for an expansion of the counterfeiting beyond even the extreme that they were allowing at that sign and they bang the market down with hundreds of thousands millions of tons of counterfeit it's nowhere life master says the architect of the silver manipulation ended up leaving j.p. morgan because used to dirty to stay at the bank and so much of a liability she ended up going to london and starting a big company or a crypto company that has sense basically gone out of business but she was sacrificed a sacrificial lamb and that was the collateral damage of j.p. morgan crash over so i mean that difference between these precious metals on these bankers and how they're they they

because morgan stanley is not as the source of pride -- as diversified, morgan stanley took this prettyl street's trading divisions have the worst first half in the decade, so quite were results so bad? >> it is a combination of things. if we want to use a sports metaphor, clients are all on the sidelines. we have an uncertain macroenvironment. we don't know for sure if the fed will cut rates. we have a global trade war, worsening conditions on the macro fund for global growth, so a lot of clients have not decided how to reposition for this outlook. they have stayed on the sidelines. that has had a pressurizing effect on all banks and their trading divisions. shery ahn: let's look at the rest of the year. we are now expecting fed rate cuts. how does this impact the outlook for banks? >> it is all about the fed now. things were asked repeatedly on calls this week what it will mean for profits. when the fed cuts rates, that will pinch margins because they won't be able to charge as much for their customers. banks have been talking about the potential impact on revenue all week. it remains

the 19-year-old morgan state university student. police say he was heading home to hyattsville to see his parents. investigators say two men trie rob him, shooting him five times. he came morgan state after graduating from park dale high school in. riverdale uch a young age, such a good kid. >> this page showss picturef manny. his friends and formera teammes gathered together. >> there was a lot of crying and hugging. it was tough and good for them. it was good for us to kind of just remember many like that. >> here at parkdale, they say manny louis was a real leader. he was the captain despite the fact that he didn't play varsity until his senior year. >> i tink it is a testament probably to the way he was raised by his mom and dad, i'm assuming the leadership skills they instilled in him and progrieded transformed our school. >> morgan statey universit emailed students and staff saying, the morgan family collectively extends our deepest sympathies and cdolences to the family. manny louis is being remembered as a superstar with a b

morgan chesky joins us with more. morgan >> reporter: >> caller: good evening. the high-flying encounter highly reckless, saying the venezuelan jet caught on camera not only acted aggressively, but jeopardized the entire safety of that american crew. tonight the u.s. military says there's no mistaking the mission of this venezuelan su-30 fighter. the video captured high above the caribbean shows what officials call an aggressive shadowing of a u.s. surveillance plane. the encounter so close, southern command said the russian-made jet endangered the american crew with an unsafe maneuver. notice r now the crossing of paths only raises tensions. russia backing venezuelan president nicolas maduro as the u.s. actively supports the man trying to replace him, juan guaido >> the are obviously lashing out against their protagonists they see as the united states >> reporter: thelita support toe maduro's regime underscores his

you can see downed power lines littered morgan city. at least 120,000 in the dark across the state. >> a city that hadn't seen a hurricane in ten years, we found our weak spots quick. and we ended up with some utility issues. >> reporter: today, the coast guard reporting at least 11 people rescued. now, barry is making a slow march across louisiana at roughly 5 miles an hour and it's delivering a brutal pounding. you can tell by the size of the roots there this is a big tree. check it out, it's completely knocked off the side of this house and smashed this suv. antonio collins says they're not out of the woods yet. is the storm what you anticipated? or is it -- >> oh, we ain't got the worst part yet. >> reporter: the intense rainfall will likely continue throughout the night, a potential catastrophe for this town. morgan city has seven pumping stations just like this. now, this is a backup that's been brought in. now, the fear is that they'll be overwhelmed if we get to two feet of rain that's been forecast. here in morgan city, residen

this is west of new orleans in morgan city.ing the roofs from homes and right now that city and the surrounding area is 100%ho

morgan chalfant. barr has initiated his own investigation into whether surveillance on the trump campaign was adequately predicated. extra newgiven him authorities to conduct that investigation. that has just gotten underway. he has tapped the connecticut ag to undertake that. we will probably hear more about that in the coming months. host: morgan chalfant is national security reported with the hill newspaper. andrew desiderio a political washington journal continues. schwartz joinss us now. he has written for the new yorker and new york times magazine. last year you worked on a profile of robert mueller for gq. when he breaks his silence again tomorrow and testifies before the house judiciary committee and then the house intel committee what are you expecting from him?

what an interesting day, morgan, i got to say. it started out where we were paying attention at the very start of the day to that real life threatening situation there in the gulf where you had what became hurricane barry that was moving ashore. it grew in strength overnight and then started just dumping inch after inch of rain on louisiana and has just slowly meandered north at just eight miles per hour and will completely devastate some parts with up to double digit rain. the area of baton rouge, which has been getting rain for several days now, will get about 17 1/2 inches of rain by monday morning. you see the forecast track for the storm. it is going to be sitting with us and dumping some 50-plus mile winds and 35-mile-plus winds straight into monday morning, but of course many of the forecasters are saying it is not as much a wind event as it is a rain event, and it is a flooding disaster in the making that will be with us for several days. so quite an interesting day this has been where we started out paying attention to th

. >>> barry toca tierra, llegÓ no huracÁn a louisiana, hoy en morgan city no habÍa electricidad.uen y el temor ahora es a las inundaciones. genio mexicano, noticias telemundo conversa con un joven mexicano que resolvio el mitos un misterio, su logro referencia lu zona el mundo de la Óptica. noticias telemundo, con julio vaquei vaqueiro. >>> ya se sien estÉn efectos de redadas anunciadas por trump, objetivo migrantes con orden de deportaciÓn, tengan o no Éxito estos operativos, el daÑo estÁ hecho, gran parte de la comunidad hoy tiene miedo para muestras los barrios que en un sÁbado como este estarÍan lleno de gente, pero hoy, lucen vacÍos, victor hugo rodrÍguez estuvo en una de estas colonias y nos recuerda recomendaciÓn de los expertos. >>> las calles estÁn casi vacÍas, muchos optaron por quedarse en casa por miedo a las redadas anunciadas por el presidente trump. ♪ me imagino que sÍ, que yo piens que muchos tienen temor. >>> asÍ se veia el centro de los Ángeles. hoy luce casi vacio. >>> el negocio de la familia hernÁndez siente la repercusiÓn de las redadas. >>> ahorita estuvier

we begin with rob in morgan city. reporter: hey, charles, if you can hear me there, i don't have isp, i hope you can hear me, but we're in morgan city, louisiana. i've lost my earpiece out here in this nasty storm we've got here. still barry is a tropical storm at this point here in southern louisiana. it could become a hurricane here at any minute. we're about 75 miles east of new orleans which is where a lot of the attention for this storm has been because it is a low-lying area, very populated area. but here just to west is where we're really getting hammered. we're not too far away from the storm which is making its way onshore. we're here on a lake which looks like the gulf, it's just getting pounded so hard. the waves are high, and this is usually just a flat lake that you can ride your boat around on. not today though. here in morgan city we've seen gusts at about 55 miles an hour, sustained winds a little lower than that and a lot of pounding rain as these outer bands and now a little bit closer to center band

morgan because. too dirty to state the bank of too much of a liability she ended up going to london and starting a big company or a crypto company that has sense basically gone out of business but she was sacrificed the sacrificial lamb and that was the collateral damage of j.p. morgan crash over so i mean that difference between these precious metals on these bankers and how they're they they do manipulate the price they they do comverse in chat rooms like telegram groups amongst themselves they openly admit to each other that they're manipulating the price but at least like if you go to an exchange that is now been closed down by the f.b.i. that was a big change but there's other exchanges now they have introduced the troll box and it sounds like exactly what the troll box used to do is like people be like huge whale coming in and dumping * a whole bunch of this like mine and that would cause the markets to crash so it's like trying to transparent but this was that they were. you know these bankers

morgan asset management.coming on the show. let's look at the 10 year yield, heading back towards 2%. how much lower can we go. tom: have much is a gravitational pull on that 10 year yield? bonefish all the way down to zero. we have had the recovery, it is coming to an end, and now the central banks, one after another are. cutting rates we saw that overnight with the bank of korea. we have seen it with the bank of indonesia. you will see it at the end of the month with the fed. you may see it for them use the ecb sooner than it will expect -- you may see it with the ecb expect.than you that is a journey we are on until something different happens. nejra: is it time to favor duration? geraldine: i think that market price insurance cuts a little bit beyond. it is a question of timing to see whether we get a recession. there is a recession on the horizon and at that point the fed will bring rates to zero. but we are not quite there yet. data is resilient, the consumer is resilient, and the weakness is really in

are the two things that moved trading today, usually, but most of the talk today was dominated by morgan stanley downgrading global equities to underweight, saying earnings expectations are too high and there's a risk corporations may lower guidance in the second half of the year the key for the markets, jay powell's congressional testimony later in the week. the dilemma is the market wants a rate cut, but it's not clear there's an argent need for them. a lot of debate on what earnings wim look like beginning next week with jpmorgan back to you. >> bob, thanks >>> as bob mentioned, the markets will be closely watching fed chair powell's testimony for any hints about what the fed will do later this month steve liesman is watching the will they/won't they scenario. >> yeah, in two days of testimony this week, jerome powell has a choice, to affirm the market's deeply seated belief in a rate cult or push back he faces the risk of a short market sell-off and more criticism from the president who has raised the prospect of firing powell if he doesn't cut rates. one, trade is still a negative,

morgan chase, morgan stanley goldman, citigroup knowing all the banks will be focusing.asked about -- they will be asked about weeks trading revenue, macro issues and rate hikes. take a look in the bloomberg. tied to ratence hikes, that is coming to an end as this fed takes the punch bowl away. we will see 25 basis point cut in july at the end of the month. morgan stanley predicting twice that. let's take a closer look at what we are expecting with those. let's but with citigroup later monday. -- let's start with citigroup later monday. su: the focus is there international business which is key and in asia, how they are doing, will they be able to rein in expenses, which is expected across the board? report.expected to we have got goldman sachs and j.p. morgan on the 16th, similar issues for them. for goldman, they have been able to survive the 1mdb scandal. that,test have to stay on -- the bank has signaled it will increase its dividend and j.p. morgan chase is expected to deliver $28.8 billion in revenue. stay tuned. tuned areall stay plenty to watch for on the earning

. >>> later in sports, we will hear from alex morgan. she tied rapinoe with six goals and three assists in the tournament. rapinoe got the golden boot because she played fewer minutes. what a great day for the united states. >> it is so exciting to watch them. can you imagine being there? when the got the second goal you thought it was going their way. >> a big crowd for the united states. i had a friend there that that it was overwhelming for the united states. the dutch had plenty of supporters and there was a lot of orange but the united states crowd, at least have the stadium. figure some friends from france hoping that france would have made a. the united states was well represented. >> i love megan rapinoe. she looks like she is so enjoying the moments. she deserves it. she walks the walk. >> she does. like you said, she walks the walk, talks and talks, and when you can back itnobody can say anything about you. she delivered every time she was called upon. >>> i think she just turned 34 last week. they talked about a possible parad

knows there is simply no room for error.” captain eoin morgan knows there is simply no room for errorink two defeat does that. i think it was clear after the australia game that there was a huge amount of disappointment in the changing room and the fact we have been able to turn that around, identify where we are atand turn that around, identify where we are at and identify what we need to do in order to progress to the semis made things clearer about how we wa nted made things clearer about how we wanted to continue to play. it hasn't changed. it is important and it has been effective. such a big game for england. and eoin morgan spoke about having been thrashed by new zealand at the world cup four years ago had been a rock bottom for his team and they use that new zealand side as a blueprint for england's recent resurgence. the current new zealand team, they are pretty much guaranteed a place in the semifinals whatever happens tomorrow. that said, they have lost their last two games, most recently at the weekend against australia, and they know they need to return to winning ways. i

morgan dubbed your question about the president's tweet.Ñi i will not.make a statement about foreign-born members of congress, suggesting they go back to where they came from. what the president needs to appreciate, in addition to it being offensive, you're unb very own administration's efforts at working with congress constructively on what mr. morgan referred to as needed legislative fixes.q so americans should not become numb to this kind of language and offensive statements. and we need to work with congress and the executive branch in order to get anything done. so in the obama administration, certainly the last few years i served as secretary of homeland security, we13!0@6 the interior, deporting those who are convicted felons. 7ou have to alsow3 havex< priority those apprehended at the border for the sake of border security. but the number of deportations over time in the obama administrationÑi actually went down while the percentage of those deported, who were convicted felons and who were in local jails, went up. and it's all about enforcing our

jp morgan is one of the best in the world. they invested for years, and ag edwards, and on and on. say you don't have the technology to compete, as that 2022? thomas: these banks are not sleeping giants. the incumbent companies will not yield to take knology companies so they are working hard -- technology companies so they are working hard. sonali: does jamie dimon have more deals on his docket? tom: was not in the earnings? sonali: it is something we have been reporting on. nejra: i will pick it up and just the second. you have got to head to radio, but thank you for joining us. we still have thomas michaud with us. just to reset on some of these headlines, jp morgan interest income $15.75 billion. at saw at least 58 billion after cutting annual net interest income outlook. that is what we have been focusing on. second quarter equity trades and revenue -- let's carry on the conversation. on more deals potentially being on the table, earlier you were saying that is not in the cards for the big banks. haves: the big four would

mike >> morgan, looking at some baby bears.ear we started to talk about the precedent for the market to have these mini bear markets, down 20% or so in a short period of time then a strong rebound when there was no recession immediately imminent so here is a tracking of those three prior episodes this is from fidelity. '94, '98, 2011 those are the colored lines. the white line is the average of those experiences. they're lined up with their market lows right here the yellow line is the current path you see we're tracking relatively well compared to those other averages if i would make a cautionary note in terms of extrapolating from here, in all those other times, the economy did react sell rate after you did get a dovish move by global central banks, and also in 1994, there really wasn't as much of a decline. that was a little bit of a different platform we were building off of. so it's not necessarily the case that, you know, this is all going to work out great because of course, we have had 20% declines and then rebounds in

morgan chase by total assets the biggest bank in the u.s. unveiled better than expected quarterly earnings although other indicators on central investors its rival goldman sachs saw a dip in its profits but they still exceeded analysts expectations. goldman sachs results were boosted by strong growth and its equities and lending divisions of the revenue slipped by 2 percent year on year. net income also declined even though the bank still posted solid profits of $2200000000.00 for the 3 month period j.p. morgan chase said revenue in its retail bank division surged by 11 percent but investors were concerned about slower loan growth tighter lending margins and soft capital market results net income still exceeded 9200000000 well ahead of expectations. the bank's c.e.o. jamie dimon said positive momentum in the u.s. economy was helping the banking sector but he pointed to geo political uncertainties as a reason for the dips and the banks market driven business. the results are broadly in line with the robust growth the us economy continues to e

. >> good morning, morgan. here's what's happening at this hour monsoon flooding and landslides dona continue to wreak havoc in nepal with the death toll rising to 78 soldiers used helicopters and roads to rush food, tents, and medicines to thousands of people hit in the flooding. >>> a key suspect in the manchester bombing which killed 22 people made his first court appearance today he was extradited from libya yesterday and arrested for murder >>> france's l'ouvre museum becoming first major institution to remove the sackler family name after protests erupted against the family that's blamed for the deadly opioid crisis in the u.s they covered multiple placards bearing the sackler name >>> and governor of hawaii has declared a state of emergency after the arrest of 33 protesters near the monoto kaio volcano. they gathered to stop the construction of a telescope on what they consider is sacred land >> rahel, thank you. >>> still to come, it's the story of the morning netflix getting crushed on weaker sub numbe