to what whoa, jennifer morgan do in this newly created role. your for she'll be the government sir, chief specialist on international climate policy. a role perhaps a little bit akin to john kerry as the u. s. a. climate and voice. so she'll be developing the governments international climate policy positions, for instance, for the annual global climate conferences. and you know, working, leading on the development of foreign policy in relation to the climate, something that this government says that it wants to put at the heart of everything . it does. so this is a newly created role at this level, a very senior civil servant, and of course jack and jennifer morgan as definitely got their contacts booked for it. so she's been leading a greenpeace for many years and has been in other environmental organizations. and we can hear what are the green foreign minister and alina burbock said about jennifer morgan just earlier today is cannot, i know of no other person in the world with the same degree of expertise, networks and credibility and intern

jennifer morgan is definitely got the contacts booked for it. she's been leading a greenpeace for many years and has been in other environmental organizations. and we can hear what the green foreign minister and alina burbock said about jennifer morgan just earlier today. i know of no other person in the world with the same degree of expertise, networks and credibility and international climate policy. and the fact that we were able to win jennifer morgan for the german t means for me, we are filling the position with the ideal candidate. and it is an important signal for international climate action or sign when you are not every one is convinced that jennifer morgan is such a good fit for the job that tell us why that's right. i mean, the opposition parties have said that she's essentially a lobbyist for, for the causes she represents. and they say that it's unusual for an activist of this coined to be put in this a very senior powerful role within the government. and they also say that it's questionable whether an organization like greenpeace

manus: what will drive the markets to jp morgan's note. we will put that to janet yellen and what will that due to the growth story. this is bloomberg. ♪ manus: welcome back to the open. we are 14 minutes into the trading day this monday morning. a reappraisal of risk and it is fundamental. the question is -- it is predicated on the view that russia does not invade ukraine. what is at risk? the fundamental question -- is this the grandest and most global stage that putin could ask for? a moment to negotiate and de-escalate? for the moment, the market is banking on de-escalation which is what diplomacy will do. to that end, you see the reduction in recession risk. european equity markets are up this morning. paris is up by 0.6%. macron has real skin in the game. if he has brought them together, think of what that will do for his election. this could be a win for macron going into the polls rather than the specter of a conflict. london is up. credit suisse has a report that they were banking and doing business for people involved in a variet

and morgan has been doing that for 150 or more years. we want to make sure that whomever is responsible for these threats that that person is apprehended and that person is actually prosecuted to the highest extent possible. >> david wilson is the president of morgan state university in maryland. sir, i'm sorry that your campus and you're dealing with all of this tonight, but i thank you for helping us understand this really upsetting situation. >> and again, thanks for having me. >> appreciate it. >> following this latest string of threats today as president wilson was just describing there, more than 20 historically black colleges and universities now having received these threats in less than a month, including more than a dozen today. following the latest threats today, the house speaker nancy pelosi the chair of the black caucus joyce beatty and the founder of the hbcu act in congress issued this statement, the continued bomb threats against hbcus are hate crimes that must be prosecuted to the fullest extent of the law. this third r

commissioner morgan? i think you're muted if you're saying something commissioner. >> commissioner morgan: yeah i'd like to ask the chief how much -- how much salary is marley and sadie getting here? >> they're [indiscernible] and really nice vests. >> commissioner morgan: yeah they're -- i seen them on t.v. they're adorable. i can't wait to meet them. >> commissioner covington: what, no dog biscuits? >> commissioner morgan: well i'll bring something for them. >> commissioner nakajo: we'll see if that can be a line item in the budget. >> commissioner covington: mr. corso please let us know. >> commissioner nakajo: commissioner cleaveland, commissioner covington? >> commissioner cleaveland: yeah i have nothing. >> commissioner nakajo: commissioner covington? >> commissioner covington: yeah just to follow up on the k9 members. the chief did give up one source of financial support. are there any other sources of financial support for the k9s? >> the nfrs are supporting the k9s for the next however many years

your thoughts, morgan? >> morgan: that's right. we are lucky to have jennifer griffin in the briefing room, always asking crystal clear questions. the countries where biden is sending troops are our allies right there in nato, and you will remember that poland left president trump so much that there was talk of having fort trump there. so i am all for protecting people that are our allies and our friends. however to follow-up on what kirby said it depending on spokesperson, kirby said, they wanted to back up nato to show them their resolve. i agree with all of that but my question is, where the french and the germans? do you k clearly understands that the situation with russia is in europe and it affects them, as they are doing security agreements with the ukraine and poland and others. the united kingdom is sending equipment and i know, the brits get it, they have to fight themselves and protect their own sovereignty and i always believe in protecting our allies. my big question, and i think it was right for jennifer and barbara s

remember, morgan stanley had a key role, but also that morgan stanley commands more than a fifth of therading market overall. this is a business that has become very commonplace but as a gentle business. a lot of private trades that are made aftermarket and now it is committed occasions between the firms and the bankers that are being reviewed by authorities. also important to say nobody has been accused of any wrongdoing yet. matt: one employee has been put on leave. are they just looking at the structure of block trades on wall street, which they probably should have been looking at for the past four decades or are they looking at specific problematic trades? sonali: they are looking at a few things. there are firms embroiled in these investigations themselves, and the communications with hedge funds. that is an important thing to keep because in the last couple of years, what you have seen happen is the hedge funds themselves set up equity capital market debt. this is a trading strategy. you have to look at morgan stanley, and -- who was part of the block trading business at morgan s

and i have taken that to heart and i do the same thing when i went to jp morgan.ssume there is any employee in the room from jp morgan, and there is a shareholder in that room, and i'm supposed to look out for them. that is my job. in terms of what jamie has taught me, howard and jamie have taught me different things. obviously i have been with howard a long time and i think he molded me as a person in terms of my professional self from watching him, especially for so many years and so up close. with jamie, i haven't been there as long. but what i can say to you is i have learned, without a question, how he has put a world-class team around him to run an extraordinarily complex business, and at the end of the day, you are only as good as your people. i think that is what i see and what i have learned from jamie. david: another initiative you have been involved with is getting jp morgan and others to invest in minority-owned businesses. how is that going? mellody: the initiative is really targeted at the growing sustainable minority businesses by bringing two thing

morgan asset management.new york -- income portfolio manager at j.p. morgan asset management. from new york, this is bloomberg. ♪ bloomberg. ♪ yep, it's go time on the most reliable network. you get unlimited for just $30 bucks. nice! but mine has 5g included. yep, even these guys get it. and the icing on the cake? saving up to $400 bucks? exactly! xfinity mobile. it's wireless that does it all and saves a lot. get the new samsung galaxy s22 series on xfinity mobile. and right now, save big with up to $750 off a new samsung device. switch today. jonathan: live from new york city on tv and radio with tom keene and lisa abramowicz, i'm jonathan ferro. let's get straight into the equity market. lower on the s&p, down .1%. the nasdaq just about holding onto positive territory. we got a bounce off of a scheduled meeting next week between anthony blinken and sergei lavrov. that was building conference. then we have rolled over. rolled over through the morning. according to interfax donbas separatists say women and

morgan: morgan norwood, abc 7 eyewitness news, los angeles.n watch the journey get started tonight at 8:00 p.m. on abc seven. tens of thousands of ukrainians seeking refuge in other countries. we look at the humanitarian crisis unfolding right now in europe. bay area companies putting a block on russia. the way youtube ♪ free, free, free. that's right, turbotax free edition is free. see details at turbotax.com. announcer: building a better bay area, moving forward, finding solutions, this is abc 7 news. liz: pressureeeee outskirts of ukraine's capitol overnight. the nation not going down without a fight. volunteers now returning to take up arms but a crisis of refugees is beginning to move front and center. good morning. thank you for joining us. we start with another quick look at the weather with lisa argen. lisa: finally turning the corner on that cold air. it was pretty chilly yesterday and we had the cloud cover but today we will switch it up and enjoy more sunshine, temperatures well above average. we know we need the rain. there is a li

then they're not that necessary to the russian economy are all, be it that the j b, morgan funds say in emerging markets, there emerging bond market 6 percent of it is in russian bonds. the 4 x version is 3 percent. i have no word from j. b morgan or any these funds that they want to reduce that amount because the oil prices are spiking. so while the rich seem to be doing ok, and while her rusher of course is doing okay, in terms of reserves from the oil, the poor bear the brunt of war as they always do through history. we also spoke with austria as a former foreign minister kirk and i. so now she says that if the e u does sanctioned russian gas, it'll simply have a nasty blow back effect. there is german officials, including i think even the minister economy have said we are able to substitute russian in gas imports. i'm not so sure that this would really be possible because

david: today you are coming to new york for a board meeting of jp morgan.hich is the biggest bank in the world by market capitalization. mellody: largest in america. david: in america it is the largest and it is led by jamie dimon, who has been ceo for some time. as a board member there, what is your responsibility? is it to help the bank grow? what have you learned from jamie dimon? is he a mentor to you as well? mellody: to start up with, any board role, you are a fiduciary for the shareholders. howard taught me this past. he told me every time he sat in the room he pictured two chairs. one share is a partner in the -- and the other is a shareholder. he said when you are the boardroom, be proud of everything you say to those chairs. and i have taken that to heart and i do the same thing when i am at jp morgan. i assume there is an employee in the room from jp morgan, and there is a shareholder in that room, and i'm supposed to look out for them. that is my job. in terms of what jamie has taught me, howard and jamie have taught me different things. i have

morgan brennan joins me today.he inflation debate there are calls for the fed to do everything to fight inflation. inflation nation but could an aggressive central bank do more harm than good? and the power player michael chertoff the former homeland security secretary will tell us what's at stake for businesses in this country and around the world as the border crisis with ukraine escalates. a big hour ahead but first dom chu to the markets. >> down again today and right off the session lows the dow about an hour ago off more than 300 points down about 185 right now s&p 500 down .75%. 4348 nasdaq composite the underperformer today 13542 the last trade growth underperforms the value side from a sector perspective we are lower across the board almost all 11 sectors down in the last half hour industrials are leading the declines some of the biggest large cap stock decliners are chip stocks. intel in particular down after needing to spend heavy will i to enable the ambitions to become a so so-called foundry. meanwhile

[ding] e*trade now from morgan stanley.e is always top of mind. so start saving by switching to the mobile service designed for small business: comcast business mobile. flexible data plans mean you can get unlimited data or pay by the gig. all on the most reliable nationwide network. with no line activation fees or term contracts... saving you up to $500 a year. and it's only available to comcast business internet customers. so boost your bottom line by switching today. comcast business. powering possibilities.™ it's time for "etf spotlight." a look at the spdr consumer discre discretionary ticker 2.5% more than the s&p amazon makes up 23% of that fund activist investor dan lobe believes amazon is being undervalued by nearly $1 trillion, adding the market is failing to see the full value of amazon web services in addition to its e-commerce unit. a spin offof aws has long been discussed. amazon continues to underperform peers like apple and alphabet. stocks up 0.5% today worth nearly $800 at the end of last year, according t

morgan, but to give you something different, we're buying morgan stanley in an opportunistic portfolio we like financials due to the cyclical exposure and positive correlation to rising rates. it's an example of a quality business and it's firing on all cylinders really and it's trading at a slight premium and deservedly so. the other thing i would say is when you think of a portfolio construction from a macro level in the nine prior rate hike sickles since the '70s, equities did well and specifically cyclicals and value and non-u.s. equities and while it does not invalidate a long-term strategy, you have to pick up things along the way that are ad alpha, and one of the things we like is the infl which is the rising kinetics inflationary and beneficiaries etf and it aames the benefit from rising prices, principally in smart and midcap and it's 20% commodity like names and that's great and at a surgical levels and those are the ways that we're trying to adjust and take advantage of what we predicted and currently see the high inflationary environment. >> it is appropriate going into the

and what is morgan stanley -- what does morgan stanley say? >> apparently there is a term in the market for when the share prices fall before you make a big block trade. the morgan stanley fade, which to me was fascinating. what that does imply is there has been some kind of trading before the block trade, information has leaked. that gives a sense of why investigators are looking at that. on the culture thing, i guess it is another blow for wall street reputation in the wider economy. manus: absolutely. it goes back to the investigations in libor etc. and how we communicate with one another in the marketplace. thank you. let's get to juliette saly, she has your first word news. >> alianza taking a charge -- allianz taking a charge and connection to the hedge fund that collapsed the start of the pandemic. europe's largest insurer expects to settle with investors in an awful fund. more expenses are coming from lawsuits and regulatory probes. the u.s. has added chinese messaging platform we chat and online marketplace alley express to its list o

for that, we turn to shepard smith. >> hi, morgan. security council expected to vote within the hour on a resolution to stop the war in ukraine it obviously won't russia and china expected to veto the resolution, but u.s. officials are telling nbc news they're watching to see whether the united aet dted arab emirat india are persuaded to vote in favor or sustain they would see either of those as a win the u.n.'s humanitarian chief calling the need for aid in ukraine extraordinary. he said the organization will seek well north of a billion dollars in the next three months for humanitarian aid there >> and pope francis breaking diplomatic protocol today by visiting a foreign embassy himself. the leader of the catholic church made the trip to the russian embassy in rome. normally, the russian ambassador would be called to the holy see. a vatican spokesman said the pontiff wanted to express his concern over the war >> tonight, we're inside ukraine and talking with kyiv residents who are refusing to leave and ready to fight, on the news ri

shep >> hi, morgan. of state tony blinken meeting at the state department with his ukrainian counterpart in just a moment they're expected to hold a news conference just hours after president biden said we're seeing the beginning of a russian invasion of ukraine. the president announced sanctions aimed at among other things cutting off russia from western financing. >> all three white men convicted of killing ahmaud arbery found guilty today of federal hate crimes the jury concluding travis and gregory mcmichael and their neighbor william roddy bryan chased down and murdered ahmaud arbery in their south georgia neighborhood because he was black. all three now face the possibility of life in prison. that's on top of the life sentences for their murder convictions in state court >> and a major win for the u.s. women's soccer team. off the field. today, the u.s. soccer federation agreed to pay men and women the same amount in future exhibitions and tournaments including in the world cup the settlement is wo

[ding] e*trade now from morgan stanley. the street."g manufacturers to grapple with hyers costs alongside a tight labor market let's check on the manufacturing sector with jay timmons, president and ceo of the national association of manufacturers. jay, great to have you back on the show i do want to get your take on what you're hearing from your constituents around higher cost pressures and how lasting they could be >> well, inflation clearly is here to -- throughout this year. i think we are going to see higher prices. a lot of that comes from the fact, morgan, that we simply can't find the people that we need to make the goods that are very much in demand in this country. then you add on top of that the blockade of the ambassador bridge, which slowed down our supply chain all of these things are kind of mount to create rising cost inflationary pressures >> the black aid which has been cleared is that something that could have effects that last perhaps a little bit longer than what we have seen in the near term or speak in general to

i feel that i am better off contributing to organizations like ariel, starbucks, and jp morgan.id: if somebody says i want to bundle the optimism and enthusiasm for life that mellody hobson has, what do you think is the key to being so optimistic and energetic? mellody: gratitude. when you have had the life i have had, every day feels like a gift, blessing, feels beyond anything i have ever expected. if that is the way that you look at the world, it ends up being a much better life. that does not mean days are not hard. i told people at ariel my worst day is still awesome. i have had some bad days but in the context of what i know that can be really bad, worrying about where you are going to sleep or eat. nothing is that bad, nothing. it gives me empathy for people who have those struggles. because i never forget, i am always grateful and because i'm grateful, i think i am supposed to work hard and do better. i'm supposed to be optimistic because the contrary is -- it just doesn't seem right given the opportunity i have had. what do i have to complain about? it doesn't mean i do

>> morgan, it is great to see you again. movement of forces of nato is critical and important and making the right moves we have nato alliance with common parts and organic supply capabilities so the inner operatability is a key component of that. the supply chains today, the energy costs that, transportation disruptions, obviously the volatility due to the russian incursion into ukraine, inflation is going to be a factor. so supply chains are strained before and now going to be strained even more but the moves into the eastern flank of nato and critical at the right time. >> i want do get into the supply chain piece of the puzzle and national security here in the u.s., but first, we were talking about the relationship between russia and china someone who spent a long time securing and protecting the pacific, how do you see that read through playing out where there seems to be focus on how closely china is watching this and whether it could help to inform a future template of taiwan. >> yeah. so i think china, chinese commun

joining us now is catherine morgan. what is going on? >> thanks for having me. company surprise wall street with the news that nike is cutting back on business. they gave a bad outlook for the year coming well below expectations for same-store sales and earnings. nike has been a huge part of the business for many years, accounting for as much as 75% of their business in just a couple years ago. footlocker saying they will have to diversify, find other brands. definitely negative news for investors right now. greg: how big of this is a threat not only to footlocker but probably across the retail industry? nike looking to direct to consumer, saying we don't need your storefront anymore. >> wall street does not see other retailers having quite as bad of a reaction to this move by nike as footlocker has done. others are not seeing this type a big decline in business, so this may be a unique footlocker thing right now. matt: catherine larkin talking about footlocker having its worst day in 13 years. after billions of dollars in losses tied to the collapse of archegos

morgan: there were concerns about the possibility that a terrorist organization could attack the gridound the world, there have been a fair number of attacks on grids. >> whitaker: they have attacked with bombs, planes and drones. russia's cyberattack on ukraine's grid in 2015 knocked about 60 substations offline, leaving 230,000 people in the dark. the u.s. secretary of energy has said russia could do the same thing here. >> dr. morgan: in the report we did on the resilience of the power system, we did argue that we needed an organization, probably d.o.e. and department of homeland security, to systematically look at all the kinds of vulnerabilities we have and then begin to figure out who could address each. in terms of resilience issues, there's nobody in charge. i mean, there's no single entity that has responsibility for everything. >> mike mabee: the u.s. electric grid is the largest machine in the history of mankind. it is a marvel of modern engineering. no one person owns or controls it. it's actually 3,000 different companies, both public and private sector, that own or opera

morgan. yes, the risk is high. it should have a limited impact on global equity market and would likely market a dubish reassessment of the central banks so. any escalation could cause a de-escalation let's say in the monetarily policy, a more activist monetarily policy. dani. dain: our past guests said that the impact won't be that dramatic. the impact will be that rise in real rates worth 90%. so let's get to this morning's market. because tech is up .1 of a percent. maybe that's temporarily we're in this environment where you find safety in tech. that's you won't get as aggressive as banks. meanwhile s&p down .03 of 1%. manus. manus: iron ore, the chinese seek to rein the price of one of the most important commodity. gold is at an eight-month high. it it can be the perfect hedge for any geo police political ax. we put the swiss frank, i would say in terms of money going into swiss and yen as those haven hedges come into play. let's talk about the oil market. it could go up another 10% if russian military action

so you heard morgan talking about under armor.y had revenues raised but the margins for the current quarter are lower because of higher shipping costs they didn't give any clear indication when they thought it was going to go away good year tire was similar they talked about inflationary pressures persisting over the next several quarters. they kind of left it there again, you see the bulls want to believe first half is the peak, but we don't have any hard evidence of that we're just data dependent. that's frustrating and why you get a lot of this volatility in the market we just don't have enough data to make a clear determination. meantime, what we do know about corporate america, they've got cash more cash than they've ever seen before last week i told you that dividends were at a record now buybacks are at a new record corporate america is flush with cash here's the problem with buybacks oftentimes these buybacks don't reduce share count which is what you care about they don't reduce it because they give new options on the fro

strandfall gabe and morgan. thank you so much for coming on today. thanks for having us. we definitely appreciate how hard this must be for you right now. we are talking in hopes of enlisting more eyes and ears maybe triggering somebody's have something they saw maybe generate new leads, but please let me know if you know i ask you a question that you can't or don't. you talk about we definitely respect that, but i know it's been day 9 anything. knew that gives you some hope something to work with. now huge support from the police. department and that's that's all. that's all we can work off of. yeah, there's seemingly very little out there, but take us. a day one when and where was the last time that you or another family member saw alexis? we were actually on facetime with her and around like 4:30. and she it was just a normal day. she just dropped my little brother at school. asked me to pick up a package from the post office and that was in and she told me that she wanted to meet up. come pick it up. that's

manus: deutsche bank of 50%, goldman a jp morgan 40% to 50% up.f percentage do you see the bonus food at ubs rising? ralph: i cannot give a percentage yet but it is increasing. manus: 2020 was up 24%. ralph: it is not as much as that this year. it is about paying for performance. that is what is important. if people perform they get paid well and if they do not they do not. clearly the market has done well. we have done well in the market and so the pay is up. guy: the ubs cfo speaking to manus cranny. manus cranny joins us from zurich. the market left what it heard from ralph hamers and ubs. is this as good as it gets? manus: i think he will push further. i think given the new targets he is delivering on profitability and cost income it is closing the gap. look at last year's numbers. look at some of the b.i. they have run the numbers with the profitability target of around 18% payout in a cost income ratio targeting 73. this could evolve into a bank that has rates around 75% and that is when you begin to play large with wall street and you go he

morgan: morgan norwood, abc 7 eyewitness news, los angeles.journey get started tonight at 8:00 p.m. on abc seven. still to come, tens of thousands of ukrainians seeking refuge in other countries. a closer look at the humanitarian crisis unfolding in europe. bay area companies putting a get your personalpoints plan! i'm james corden and i'm here to tell people that ww is getting even more personal. keep on shopping, ignore us. i've lost like 28 pounds. you look great! i love that my clothes fit better, but i just love ice cream a little bit more than that. the new ww personalpoints program is particular to you. so, what kind of foods do you like? avocado. ice cream. sandwiches. no food is off limits. when can i start?! you just have to download the app. download the ww app today for a 14 day free trial. meet apartment 2a, 2b and 2c. you just have to download the app. 2a's monitoring his money with a simple text. like what you see abe? yes! 2b's covered with zero overdraft fees when he overdraws his account by fifty bucks or less. and 2c, well,

morgan norwood has latest.organ: that monster storm that dumped more than one foot of snow from missouri to the northeast, continuing its push east, ringing bitter cold temperatures. outside boston, a tractor-trailer colliding with a vehicle, one person killed. and in boston, tow trucks arriving on scene following several crashes along icy highways. >> cut your speed down, when you can. >> still snowing. morgan: north of new york city, a state of emergency, snow blanketing roads in rochester. in texas, the state escaping another power grid emergency. though hundreds of thousands remain in the dark. officials say it is nothing like last year's storm that buckled that the state's power grid. >> the power grid continues to perform well at peak demand during this winter storm. morgan: still, the storm wreaking havoc on travel throughout the state, traffic down to a standstill outside san antonio. the line of vehicle stretching for miles. some drivers stuck in the blistering cold for more than 13 hours. >> it was pr

jp morgan ceo jamie dimon joining us next for an iv

to celebrate the 100 year anniversary of the final year of issue morgan dollar, the u.s.d this beloved design by striking a limited amount of these coins in 2021. these sets include one example of each of the 5 2021 morgan dollars, one struck in philadelphia,

i'm david faber with morgan.. >> the dow is up 1.4 here's why, we're 30 minutes into the trading session here are the three big movers we're watching one of those dow components, u.p.s. surging, a top performer in the s&p, beating and issuing stronger guidance and upping the dividend by almost 50% delivery giant expects to meet 2022 revenue in march and targets a year early, shares up 12.5%. plus, ubs also jumping after the swiss bank report the its best annual profit it's since 2006. it, too, plans to increase its dividend and increase share buyback. stocks up 6% right now, over 35% over the last year of trading. finally, oil exxonmobil, those shares are rising as well. earnings topping estimates even though the revenues fell a little short keep in mind, almost 80% up year on year. darren woods was on, ceo, to talk the market results. >> market has been a big help with respect to the earnings performance. more importantly, more fundamentally, it's the work we've been doing back in 2018 and 2019 with significant

by the way, morgan, expedia just hit a record high in trading today.ations are pretty high going into the big earnings report after today bell. >> that's right. dom chu, imparting the eft knowledge, thank you on a quick programming note, tied to that, tomorrow morning at 10:00 a.m. eastern we will have the ceo of expedia, peter kern, on the show. don't miss that. >>> well, turning to the latest on peloton, a virtual meeting yesterday meant to introduce incoming ceo barry mccarthy did not go as planned. it was halted after former and current employees outraged by layoffs took to commenting on a chat function touring the ming joining us now lauren thomas wh has just been breaking story after story around peloton as it's going through this tumultuous time. what exactly happened here and how were ex-employees on this meeting? >> yeah. thank you for having me. so, essentially, what happened is peloton did hold this all hands meeting yesterday. that was the day after they reported quarterfinal results and this is a typical thing for the company to do these m

we had jp morgan -- morgan stanley saying we could get maybe 5% on the s&p 500 if there are signs of de-escalation. it feels when it comes to european and u.s. stocks some of this has been priced in already. the market remains jittery and watching what is going to come next in terms of sanctions and how the west response to the move. >> i am curious about that exact idea. in a few months ago, a lot of economists were saying the first quarter was going to be volatile anyway. they were attributing it to a hawkish bet and strong pivot. no one saw these geopolitical tensions creeping up. how much of the price action is those russian tensions? justina: it is a combination. you have this big policy shift from the fed and this geopolitical risk. there have also been signs of decelerating earnings. people are worried about slower profit growth at the same time. it is hard to disentangle everything because the russian news at the same time affects inflation expectations through commodity prices. that affects what people expect the fed to do. tom: when it comes to central banks, the market pri

[ding] e*trade now from morgan stanley. - [announcer] bito, the first u.s. bitcoin-linked etf. new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria. visit indeed.com/hire and get started today. zero-commission trades for online u.s. stocks and etfs. and a commitment to get you the best price on every trade, whose resumes on indeed match your job criteria. which saved investors over $1.5 billion last year. that's decision tech. only from fidelity. >>> welcome back it's been a volatile week for a crypto currencies. bitcoin coming off of its worst day in four weeks. kate is looking at how crypto traders are finding new ways to hedge and more complicated ways to trade kate >> good morning. we talked about bitcoin derivatives in some of the more advanced ways to trade there we're now seeing the same phenomenon with ethereum there's strong demand for those products e

morgan was supposed to conduct these three concerts but died last august.passionate, an advocate for artists of color. the three conductors filling in for morgan are all people of color, and tickets are still available. >>> up next, is climate change changing a staple of san francisco? new research showing what it means for the future of sourdough bread. >>> fake online reviews happen. we know because we talk to people who left them. i'm consumer investigator chris chmura. we'll show you how easy it was for them to leave a five-star fake, next. >>> i'm chief meteorologist jeff ranieri. awesome afternoon for us. look at that blue sky in san jose. i'll talk more about some heating up temperatures this weekend and even the possibility of thunderstorms ahead. i've got that for you in about nine minutes. okay, it's go time. team usa on the largest gig-speed network. which means this mega fan never misses a second. it's gig-speed wifi that's “mikaela shiffrin” fast. ok, that's fast! speed's cool, but does yours block threats? yup, even for these upstairs all-nigh

morgan norwood has the latest.organ: that monster storm that dumped a foot of snow from missouri to the northeast continuing its push east, bringing bitter cold temperatures. outside boston a tractor-trailer colliding with the vehicle. one person killed. in boston, tow trucks arriving following several crashes along icy highways. >> still snowing. morgan: north of new york city, the state of emergency. snow blade getting roads in rochester. thousands losing power. in texas, the state escaping another power grid emergency. hundreds of thousands remain in the dark. official status nothing like last year's storm that buckled the power grid. >> the power grid continues to perform well at peak demand during this winter storm. morgan: the storm wreaking havoc on travel throughout the state. traffic down to a standstill outside san antonio. alina vehicle stretching for miles, some stuck in the visiting --blistering cold for 13 hours. the massive winter system triggering a wave of flight cancellations and delays across the

>> at jp morgan, we do not think so. we see equity more carts -- markets washed out from a valuation perspective. in asia, china is the largest underweight for investor portfolios. investor started to dip their toe into the market over the past couple weeks and we are seeing a strong start to the day in hong kong, but we see opportunities forming for bottom fishing, particularly cyclicals, emerging markets, and china. rishaad: i want to get to the geopolitical overlay. 100 dollars a barrel for wti, if we get to that, does that change the game for central banks and the consumer? >> so it is an interesting dynamic. i think we are seeing clear drivers of that increase that are non-geopolitical in nature and the impact of climate change, higher energy prices overall, a positive from a climate change discussion perspective, because you're encouraging the developing of renewables and getting a better price umbrella for energy sources, so arguably better for the long-term discussion on climate. you add to the conversation some

morgan and mr.ns for a more substantial move, more substantial adjustment from the federal reserve. s&p futures flipped from down 1.3% to up half of 1%. dollar-yen sees the dollar coming off ever so slightly against the yen. i can tell you, underneath the hood, there is money going into the etf in gold. 50 tons have been bought and's december 2020. there is a tangible sense of relief. let me show you what futures are doing. equities higher, oil lower. you are seeing s&p futures up by just under 7/10 of 1% pure my last guest says he does not think there will be nine rate hikes in a row from the fed and ultimately you want to be long off equity market risks. the oil market down. there is talk about the risk of a large sdr release in the united states of america on the ukraine crisis. the white house is bracing from moscow to weaponize its energy exports. we have had a prolonged period of oil, or what would a prolonged period of oil above $100 per barrel do? those are some of the forecasts russell hard

for jp morgan's mike caroli, they are -- mike feroli they are ready to go.very single meeting this year. tens at the moment just north of 2%. do you yields backing away from 1.60%. -- two year yields backing away from 1.62%. the reason jp morgan has made a move, the ecb is set to make a move as well. switch up the board and finish on euro-dollar. the end of last month, we opened up the final trading day of january with a 1.1 1% handle. came very close to 1.15% handle. the idea being that in the past, the fed had to back away because it had to worry about the dollar getting too strong. does this take those concerns away? tom: i think there has been's good work on this, include bruce kasdan -- bruce kasman and youngkin fells of pimco -- and joachim fels of pimco. jonathan: i remember being woken up. wasn't it my christmas vacation? lisa: first thing in the morning. merry christmas. jonathan: 15 basis point move. i missed the flight, tom. [laughter] the things i will do for this program, the links i will go. lisa: touching. jonathan: just to have a phone conver

for the fed, mike for early of jp morgan -- michael feroli of jp morgan talks seven hikes for the fed. suggesting that if the fed does not deliver what the market expects, you would get an adverse reaction in this market because the belief would build that the fed would not deliver on the issue of the moment. tom: we just heard reticence from blackrock. there is still a group out there that says improving inflation will get us away from certitude of seven hikes. jonathan: we really are super divided. we can talk about what is priced. whatever i put out on twitter, goleman says seven, bank of america says seven, jp morgan says seven come of the month of the mountain pushback you get to that, the same old line. they will not be able to do this without causing big problems. tom: a fractured washington, particularly the legislative branch, tries to respond to what we observe in kiev. lisa: and also to inflation, and it is related. the gas tax and the gas issue, and how much gas prices have climbed. this all plays into this idea of the self-limiting kind of spiral you are seeing. how much

morgan stanley shares down 2% in the post-market. goldman sachs also lower. dow jones stories as the sec sent subpoenas to morgan stanley and goldman sachs, as well as several hedge funds asking for trading records and information about the investors communications with bankers. this is according to people familiar with the situation. caroline: the key issue is, have they, what they, have improperly tipped the hedge fund clients off in advance of these larger sale -- larger share sales? all of this is currently being reported by the wall street journal. taylor: not lost on us that today, we have talked about are triple take, as we -- as it relates to hedge funds, and who has been focused on tag, who has been getting more defensive within the energy. you rightfully point out that was fourth-quarter. through the middle of february, it is always notable to see who is buying what. romaine: you can see on the screen here, i think it is interesting the individual names. using technology at the bottom. i thought in terms of market value chains for hedge funds, you s

mike. >> thank you, morgan in the meantime the u.s.from russia at the board of ukraine even though moscow said they're considering a partial military with draw. kayla tausche joins us with more >> reporter: they said there is no de-escalation >> we have heard the signs from moscow about readiness to continue diplomatic efforts, but so far we have not seen any de-escalation on the ground. on the contrary, it appears that russia continues their military buildup. >> now, ukrainian officials are suggestioning russia is behind cyber attacks that began yesterday on banks and the military they're marking a national day of unity as reports of an invasion are taking place. president biden said an invasion could still happen in the days and weeks ahead, one that would impose a deadly human toll on ukrainians and russians alike and an increase on gas prices for americans. >> i'll not pretend this will be painle it could impact our energy prices we're coordinating with major energy consumers and producers we're prepared to employ all the tools and