so we have seen this movie before, remember back then, my top three picks are morgan stanley, morgan you can pull that up, and you can see what the stock's done in those five years i see a little bit of that in goldman sachs right now. fixed income trading, it's lumpy, you have good quarters, you have bad quarters, people extrapolate the short term too much, in fact, this is the first time we've picked goldman over morgan stanley goldman since the ipo, they've had organic twice as fast with about half as much earnings volatility yet they trade at a less expensive price than morgan stanley. >> it's good to have you back. congrats on the new gig. and that you'll continue to give us your points of view on the banks. >> great, thank you. >> wells fargo securities, mike mayo >>> shares are pulling back today, they are surging though more than 180% over one year earnings out after the bell. josh owns it, our desk debates it it next on halftime for your heart... your joints... or your digestion... so why wouldn't you take something for the most important part of you... your brain. with an i

he is the global head of strategy at morgan stanley on the se. priority indicators are now? >> you have to pay attention to sentiment, a very extreme level. morgan stanley positioning indicators that takes 6-7 information. oft is running at a scale 0-10 for the third week. if you would have gone into the extreme, now i am acting accordingly. you would have more money. we look into what is the surprise of this. the u.s. administration is very slow at the reform administration. from the american banking sector, really strong and gathering momentum. the banking sector is now starting to deploy assets in higher-yielding space. the result of that is that we farseeing dollars which so have been trapped in america and getting into the offshore scenery. that means the offshore dollar shortage which many people were talking about last year in surplus that is a situation. that is putting the u.s. dollar on the selling pressure. in order to change that you need to get the better momentum in the united states and inflation momentum. if you look at today's la

to morgan stanley. everybody owns morgan stanley. people are so skeptical that goldman is going to get thick, right? and i think that thick will get right. it may not be next quarter, but that's what i'm trying to look at, these kind of pockets in the market but it's not just financials, scott. materials. you've talked about air products and how there's activism involved there that company had a great quarter, beat and raised zp and it's trailing praxair, its competitor, by 10% year-to-date. it has a 2.5 times dividend yield, a decent multiple and if you think the global economy is going to improve, industrial gases will improve. there's that and there's also discretionary there's plenty of opportunity in discretionary. i'm not that -- i don't have that much guts to go for a coast kohl's and a jcpenney, but i'm looking at a costco and a tjx. you have to rotate to your point, that you have to rotate >> i want to remind people also, in a little while, we'll be joined by jeffrey gundlach, the bond king, wh

morgan stanley he's here onset. >> call me aj. >> actually your nickname.f we believe that this hurricane could spur a replacement cycle, which is good, a lot of people out there had auto loans had loans on cars that were worth something that were already quickly deteriorating. we saw that. that was a huge issue for the industry already so when they get reimburseded, at what price and what is the theirty to replace the vehicle with a vehicle similar to what they had before. >> that's pretty case by case. depends on the policy. at first a half a million cars is about one out of 500 cars on the road in the united states. it's a very large number we look at this as kind of like mother nature's cash for clunkers people are going to get checks this is a wealth transfer from the insurance company to car dealers to auto companies. a half a million cars at 35,000 bucks a car, which is the average transaction price, that's over $18 billion worth of cars it is a one off to your point. but that could bring in 3, maybe 4 billion of incremental pre-tax profit to the ind

haslinda: you went to kellogg business school, and to morgan stanley as an analyst.spent about five years at mckenzie as a management consultant. one would have thought that you would have been really prepared given all of the experiences. you underestimated a lot of things. max: i definitely did. i think there is nothing that can prepare you for this. i think the ability to adapt your strategy, the willingness to try things, the willingness to break stuff, left, right and center, that is a mindset you have. but i'm extremely kind of thankful for the opportunities that i had with morgan stanley and mckenzie because they give me the tool set, which i could then at any time fall back on to because i have a certain situation. these are the three or four things they train you to prepare. you, of course, you have amazing entrepreneurs and rags to riches stories with someone coming out of school at 22 or 23 and they have a brilliant idea. of course, that is a form of entrepreneurship. i think entrepreneurship is, for me, very much trying to make the best out of a difficult

. >>> morgan stanley moved molia health care from underweight to overweight. the bank's bullish sentiment is attributed to the company's restructuring plan that morgan stanley says will lead to moli in this a's growth. the shares rose almost 5% on this negative day to $59.51. >>> madison square garden posted a wider than expected loss as the entertainment and sports company faced higher costs and lower sales at several of its ve. revenue, though, ahead of expect. shares down more than 4% to 208.15. >>> and the activist investor, bill actman unveiled his plan to double the stock price of adp over the next five years. the billionaire recently disclosed his hedge fund has taken an 8% square in adp and is pushing for changes at the company. proposed plan includes layoffs, cost cuts, technology investments, adp said uh-uh. we disagree with the strategy. shares of adp down more than 5%, finishing the day at 104.68. >>> a number of nuclear power plants in the u.s. have made a decision to shut down and more expected to do so. one of those plants is three mile island.

morgan stanley sounded a note saying this tightness and memory supply is going to continue the first next year and if we take a look at the bloomberg, we have the benchmark pricing for dram and an amd, the two main types of memory chips. you can see the increase that we have seen after they bottomed out in mid-2016 and have sort of stabilized. the morgan stanley analyst joseph moore says in particular, macron is attractive that it doesn't traded a very high te multiple. there are also questions about the margins at macron. we have a chart of that as well on the bloomberg coming to us from bloomberg intelligence. this is the operating margin by unit, by segment of the company. is computing and networking, the orange line is mobile and the blue line's storage. again, there have been questions about sustainability of this expansion that we have clearly seen in all of the segments operating margins. joseph more of morgan stanley says it's going to last longer than the markets, it's not going to last forever, but it is going to last for long enough to make it worth buying the stock. vonni

alix: thank you so much, andrew sheets of morgan stanley. is going to come to the debt market to get some cash to buy whole foods. what will the yield be for amazon? coming up, we have ed morse of citigroup global markets joining us on oil and trade relations between the u.s. and china as a relates to alumina manned steel -- as it relates to aluminum and steel. ♪ ♪ track your pack. set a curfew, or two. make dinner-time device free. [ music stops ] [ music plays again ] a smarter way to wifi is awesome. introducing xfinity xfi. amazing speed, coverage and control. change the way you wifi. xfinity. the future of awesome. jonathan: 26 seconds away from that retail sales in the united states. stocks positive after two days of gains on the s&p 500. 41 on the dow. the story in the bond market, treasuries lower, yields climbing higher, up by three basis points. the dollar stronger for a second day. ato-dollar up and cable 1.2881. an upside surprise if you strip out on those -- autos. at 0.5, the estimate 0.4, so positive to the previous month and

sees these morgan stanley bankers as good guys they're good guys who made a mistake we're not going to prosecute good guys because these these prosecutors these. federal prosecutors they're playing tennis with morgan stanley and goldman sachs guys after work every day they're good guys they're my friends oh these big kids they're the bad guy that's what it comes out to that's not fair it's not a conspiracy where you're standing there going you stating is the fact if we're going to play favorites here and these some of these banks have whittled away into the system as systemically vital that they're beyond prosecution and john titus as if they don't they're the other side all the plaza peter jump to the other side or soon as my case is over he's now a criminal defense lawyer ok so when i tell her you've got to reinvent yourself and you're done a lot of the space and you are promoting crypto and it's something that is near and dear to your heart and of course and it's a revolutionary technology and. well i guess i know we might not have time actually to talk about what you're doing next

morgan stanley for years, centurylink has been promising fast internet to small businesses. but for many businesses, it's out of reach. why promise something you can't deliver? comcast business is different. ♪ ♪ we deliver super-fast internet with speeds of 250 megabits per second across our entire network, to more companies, in more locations, than centurylink. we do business where you do business. ♪ ♪ >>> adp, bill ackman speaking about his position in that stock. >> the q and a is underway we'll see a change in the ceo. that's something that adp said he wanted and it's his earliest statement but ackman himself has not addressed it until now it's been 3 hours with 168 where ackman supplies his plans at adp. the market didn't seem to buy into it. shares of adp sold off $220 to $225 per share by 2021 that would be doubling returns in less than four years. the enclosures max adp's under competitors. to improve adp ackman pointed to what his firm calls an over staffed service organization and sales force with productivity that's declining ackman said the corporate culture rela

sees these morgan stanley bankers as good guys they're good guys who made a mistake we're not going to prosecute good guys because these these f.c.c. prosecutors these. federal prosecutors they're playing tennis with morgan stanley and goldman sachs guys after work every day they're good guys they're my friends oh these big kids they're the bad guys so that's that's what it comes down to that's not fair it's not a conspiracy where you're standing there going you stating is the fact a player to play favorites and these some of these banks have whittled away into the system a systemically vital that they're beyond prosecution and john titus says if they don't there are the other side all the plaza peter jump to the other side or soon as my case is over he's now a criminal defense lawyer ok so when i tell her you've got to reinvent yourself and you're done a lot of the space and you are promoting crypto and it's something that is near and dear to your heart and of course and it's a revolutionary technology and. well i guess i know we might not have time actually to talk about what you're

morgan stanley questioning it. abigail, what is it like over there? abigail: the bulls are in charge again. we have nice gains for the dell. -- for the dow. the nasdaq adding to yesterday's big rally. investors looking aside from the geopolitical tensions that we saw earlier, and buying that di p. it was brief. averages are higher on the week. let's look at the nasdaq 100. it has been quite some time since we have seen a record high, but this is the nasdaq 100 since its last all-time high. it is on pace for a new record close. let's see whether the gains can hold. -- intraday high these are some of the big gainers for the nasdaq 100. gilead sciences up for the third day after the announcement that the company has bought -- for $11.9 million -- $11.9 billion. up 3%. this could reflect that the order member has bought more th an 400,000 shares. in the last week in the devastation of harvey, we have had a massive rally for unleaded gasoline. we see it up about 28%. vonnie, this reflects something in an interesting way that mike mcglone is calling a short

sees these morgan stanley bankers as good guys they're good guys who made a mistake we're not going to prosecute good guys because these these f.c.c. prosecutors these. federal prosecutors they're playing tennis with morgan stanley and goldman sachs guys after work every day they're good guys they're my friends oh these big kids they're the bad guys that's what it comes down to that's not fair it's not a conspiracy where you're standing there going you stating is the player to play favorites and these are some of these banks have whittled away into the system a systemically vital that they're beyond prosecution and john titus as if it's something on the other side all the plaza peter jump to the other side or soon as my case is over he's now a criminal defense lawyer ok so when i tell her you've got to reinvent yourself and you're done a lot of the space and you are promoting crypto and it's something that is near and dear to your heart and of course and it's a revolutionary technology and. well i guess i know we might not have time actually to talk about what you're doing next i want

sees these morgan stanley bankers as good guys they're good guys who made a mistake we're not going to prosecute good guys because these these f.c.c. prosecutors these. federal prosecutors they're playing tennis with morgan stanley and goldman sachs guys after work every day they're good guys they're my friends oh these big point kids they're the bad guys that's that's what it comes down to that's not fair it's not a conspiracy where you're standing there going you studying is the fact if we're going to play favorites and these some of these banks have whittled away into the system a systemically vital that they're beyond prosecution and john titus says if they don't there the other side all the plaza peter jump to the other side or soon as my case is over he's now a criminal defense lawyer ok so when i tell her you've got to reinvent yourself and you're done a lot of the space and you are promoting crypto and it's something that is near and dear to your heart and of course and it's a revolutionary technology and. well i guess i know we might not have time actually to talk about what y

jonathan: andrew slimmon of morgan stanley will stick with us.round the corner. the opening bell right here on bloomberg tv next. ♪ jonathan: futures negative, .6% on the dow, down on the s&p 500 as well. last week, decent gains in the face of more political turbulence. strongest gains on the s&p 500 since july. open today, we rollover as geopolitical tensions continue to heighten between north korea and premature everyone else. treasuries, lows we have not seen for quite a while. 210 earlier in the session. significant on the session on the year. we're down by 10 full percentage points today. a stronger yen, stronger euro story and the headlines in g10. 25 seconds in, u that cash open. >> the nasdaq getting hit the hardest off by .8%. test could be the big loser of the day. it could be the worst spot we have seen for the s&p for a couple weeks. we are seeing the outperformance. it is off by broader energy story. the question being how quickly , drilling into the fourth quarter, what does that do for production this quarter? down by .3%, it is al

among the banks that could benefit the most are jpmorgan and morgan stanley.ning us is a senior writer on the finance team. how did you come up with that number? >> a lot of numbers coming together. a lot of number crunching with several elements and suggestions in the treasury report in june that came out. some of those will not happen because they are related to congress and congress has to pass them. nobody is expecting congress to do anything. a big chunk of them can be done theegulator, by retuning regulations and some of them related to what came from how we implement to them in the u.s. we increased the rigor of the rules that internationally were agreed to. sanctionshose are the -- sections i looked at, the tweaks that can happen, if we bring down the rules by international standards. vonnie: let's look at this pie chart. majorws what each of the pieces of regulation that will be done away with what do you compliance costs would give the banks back $2.8 billion, the biggest one is 9.8 billion dollars. what any of the cash make a difference to backs per

morgan stanley is forecasting parity and above by march of next year.says it will happen by the end of this year. the median forecast from .trategist today, the 90 pence we're at 92. slightly weaker pound, weaker euro against the pound. from here, interestingly, out of the 62 participants in the bloomberg currency surveyed, only those two houses, hsbc and morgan stanley, that see the pair at or above one by mid-2018. steve barros says it is not a wee leap of faith to suggest could get up to parity area. it would be full hearty to roll out the prospect of the euro trading the one town market according to an analyst. brexit weighing on the pound lately. weak's gdp data came in come in line with estimates, same as the prior estimate. just up from .2% in the prior quarter. the economy is shrugging along slowly in the first half of the year. this is a great chart to finish today. to see how much central bank bond buying distorted market valuations. take a look at the lowest rated sovereign debt. these are the worst rated sovereign bonds. ,unk emerging target

stock has been off to the races ever since morgan stanley just initiated today. think it goes higher from here >> it's interesting that yesterday, the market was trading up by 25 bases points. jeffrey gunlock comes on, talks about how really no risk is being priced into ek quities hee and we saw the market come off then these comments from the president then we closed unchanged. this morning, to guy's point, it seems whatever's going to knock down the market is not managsomn we can see now if they're not pricing anything now, given the were of words, i think investors would be caught off sides. >> european markets had a much deeper reaction to the market had at any point yesterday or today >> if any other president were to have this kind of rhetoric, we would have seen the market down more. i don't think any other president would have had this kind of rhetoric that's not the -- the move before, so i guess we're just used to it i don't know, i'm very surprised. >> off the charts now with rich ross hi, rich, what are you looking at >> it's better all saul. it's goo

we will talk to a morgan stanley analyst who says a correction could be imminent. in commodities, oil prices take a dive, they are cutting demand estimates and a key technical signal may bring better news for opec. we will explain coming up. let's look at where european equities are trading now, under 30 minutes to the close. u.s. equities recovering. european equities still lower, down 8/10 of 1% on the stoxx 600 , every industry group heading lower except for health care with health care stocks in the green. energy very much underperforming and telecom and financials closely following in terms of the worst performers with the stoxx 600 heading for its worst week since november. we have also seen volatility spike on the euro stock 50, this is an interesting chart, this is looking at 20 day realize volatility. showing the spread between s&p 500 and stoxx 600. showing european equities are more volatile than the u.s. by that measure. in the bottom half, you see the spread fear a few days ago, the widest spread in one year which has tightened up. you see the differen

morgan and morgan stanley would benefit the most from changes proposed by the trump administration. corporate japan is urging shinzo abe to tackle debt and the sales tax. global news 24 hours a day powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. haidi: one of our favorites out of those 2700. let's look at samsung, hype over the new phone, shares trading unchanged following the launch of its flagship smartphone, the galaxy note eight. peter l stremme joins us now from tokyo. tell us about this new phone. to get overnough that note seven debacle? quite an event overnight in new york as they unveiled of this phone. it is a big phone, 6.3 inches diagonally. samsung has specialized in these oversized phones and done well for them. it has a bunch of features in it. they have squeezed the head and shoulders to get more screen real estate. it comes with a stylus like the note 7 did, so following some of these features that other phones had. they are trying to put behind them the note seven fiasco. they cap theing name, the note eight, contin

morgan stanley. or a little internet machine? it makes you wonder: shouldn't we get our phones and internet from the same company? that's why xfinity mobile comes with your internet. you get up to 5 lines of talk and text at no extra cost, so all you pay for is data. see how much you can save. choose by the gig or unlimited. xfinity mobile. a new kind of network designed to save you money. call, visit, or go to xfinitymobile.com. >>> welcome back to "worldwide exchange." good morning to you. let's look at the futures action pointing higher once again by 0.2% the main reason for gains yesterday and again for today is ongoing easing of tensions between the u.s. and north korea. that led to a decent bounce yesterday. continuing with a little less steam today. yesterday we did get 0.6% gain for the dow. about 1% for the s&p 1.4% for the nasdaq. within the s&p, 10 out of 11 sectors were positive. the only negative sector was energy why? oil prices slipped yesterday today pretty much flat slightly in the red earlier. they've jumped a b

morgan stanley. t-mobile announces zero down for all.w, get the whole family the hottest smartphone brands like samsung galaxy for zero down. plus, get 4 unlimited lines for 40 bucks a month, taxes and fees included. more reasons why t-mobile is america's best unlimited network. at the lexus golden uncoopportunity sales event before it ends. choose from the is turbo, es 350 or nx turbo for $299 a month for 36 months if you lease now. experience amazing at your lexus dealer. that's why at comcast we're continuing to make4/7. our services more reliable than ever. like technology that can update itself. an advanced fiber-network infrustructure. new, more reliable equipment for your home. and a new culture built around customer service. it all adds up to our most reliable network ever. one that keeps you connected to what matters most. ♪ >>> what do we think of salesforce.com after its record performance announced after the close? the company just delivered a one cent earnings beat off of a 32 cent basis, higher than expected revenues, up 26

morgan stanley. >>> welcome back to state of the union. i'm jake tapper.chael flynn was secretly paid as special prosecutor robert mueller broadens his investigation to find out what ties president trump and family members have to russia. congressman, thanks for joining us. are payments paid from michael flynn from turkey or russia part of the house intelligence committee investigation as well? >> we're certainly looking at all the conduct of michael flynn in the same way that i think the special counsel may be viewing the same evidence in terms of what it -- what light it will shed on the broader russian investigation. michael flynn, the allegations include payments from turkey and payments he received from rt and other russian entities, whether they were allowed, whether they violated any clause or properly disclosed but more broadly whether it shows an intent to work with the russians in ways that are contrary to law. it all, i think, is within the broad scope of what we're looking at. it's particularly significant, i think, in terms of the mueller inve

a rally in developers after morgan stanley and city boosted forecast. let's look at the banking stocks in hong kong. given the slight losses, the big four beating estimates, but a mixed bag when it comes to investor reaction. falling almost 2% this morning. earnings watch for sunac. it did jump 10% ahead of results. galaxy entertainment writing after profit beat. we are also keeping and i on cosco shipping after return to the black in the first half. when you look at the rundown for energy, the likes of jumping over 10%. , this stockut jumping the most in's january 2016, leading gains on the hang seng so far today. on the other side, laggards down over 2% this morning, dropping after its results. a last look at the shanghai composite, marginal gains, but telcos leading the drop there. consumer staples of .3%. discretionary stocks marginally higher after galaxy entertainment's earnings. earnings driving the movement we see for hong kong and chinese shares. rishaad: earnings and economic data. well, indeed, let's get to first word news from paul allen. ch

morgan stanley has a simple strategy just keep buying the strategist behind the call where tell us where he sees value now and later, it's been a record breaking year for the market and one thing that's been rising along with stock prices, president trump's tweets about soaring stock prices we've got a surprising report. but first, we start off with a bit of a quiz on one dow component captivating investors this year. let's play a little jeopardy here the stock is up 17% this year. it's got a market cap of near ly $250 billion it has 1.5 million employees here in the united states. so do you know what stock? >> k-mart. >> i do. >> the answer is -- what is walmart. for all the talk this year of a retail wreck caused by amazon's domination, walmart is hitting a two-year high and up for the 11th day in a row. the longest winning streak in more than two years, so is walmart suddenly an amazon proof stock and does it just keep flip clementining higher from here? >> i love wheel of fortune they do a great job, right >> yeah. i'm a wheel watcher. >> wheel watcher >> that show is perfect. >> any

morgan stanley. >>> new effort this weekend to reduce homelessness in our area.hundreds competed in a kick. tournament. the goal was to raise $25,000. the money will help secure housing for more than 120 people in our area. >> there continues to be domestic violence on e which leads many of our families without a place to stay. >> we believe in the mission for purchase of independence and what it can do for the community. >> the event is in its 12th year.>>> this was a site on austin likes day. thousands of robert ochs where police to race across the water. it's an effort to raise money for boys and girls club. >> most of what i saw was a big waterfall of ducks coming down the bridge. damages flipped across the river.>> duck race as part of a bigger festival. there is music activities, music, entertainment. they hope to raise over 100,000 -- $190,000. >> it will be awesome around here tomorrow. i mood today because th catch up.>> this is august. >> it felt like september. it will be the benefit of cooler temperatures. the problem is monday. yellow weather alert d

morgan stanley says buy. apparently some are.ning that is the state of play on the markets. >>> republican senator susan collins from maine, she says it is too soon to tell if president trump will be the nominee in 2020. hmmm. split republican party? come on in please, corey lewandoski, former trump campaign manager. you know this really is a split republican party, isn't it? when you have got senator collins saying that kind of thing. how do you get anything done when you have a split republican party, and you have got to get tax cuts, obamacare reform, debt ceiling, and a budget and infrastructure? i don't see how you can get it done? >> it is very hard to get things done in this highly-politicized environment. but you have to remember when donald trump ran for office, many of the people, many of the pundits, many of the so-called experts said he would never run, he would never be successful, he would never be a real candidate and he defeated 16 republican challengers in the primary. he won 38 primaries and caucuses. he went on

with us is a mike wilson of morgan stanley.s a missile to beat -- how much more pessimism to be done? mike wilson: we took off the two-year average and i watch it. it is almost self fulfilling. as i like to say, breakdowns and breakouts are for suckers and that's where you want to take a step unless something changed. unless something changed, it is signifying something meaningful. weaving taxes are not on the table and that is the main reason the small caps have underperformed. the strong dollar has been a headwind for small caps. where it will drive small caps in the second half of the year if they hold our earnings. weaving access to capital, m&a, allpending and the things tend to benefit small cap companies disproportionally. jonathan: you called this part of capitulation trade and that has significant -- how significant is it? mike wilson: it is significant because it is working. there comes a time when you have to excite the crowd. i think it is one of the times we have been fighting it all year for the most part, but we'

is a chief cross asset strategist at morgan stanley.a lot to talk about on day like today when we see movement on equity indexes. angela merkel's bidding for a fourth term in office. we will discuss what the outcome could mean for the future of the eurozone and u.s. relations. what changes could we expect? this is bloomberg. ♪ ♪ guy: let's take a look at where the european markets are this friday morning. u.s. inflation data later on. london underperformed. the reason for that, the mining sector is off this morning. it is far and away the biggest loser we are seeing this morning. ironically, the next biggest loser is insurance. why you see the financials moving down. they are lumped in. , as wece has some issues know after speaking to some executives this week after the fact that there have been no massive catastrophes is great for catastrophe, but it is difficult when you are pricing future policies. you have the issues of interest rates, too. let's talk about something different. that is politics. it has had a strong effect on the mar

morgan stanley telling its clients to buy on the dip.ing the bull market checklist to remain intact. carry on. so does the market have those legs? or are we just being a little too optimistic? well, let's get right to the floor show. we've got traders as always in the new york stock exchange and the cme group. let's again with teddy, who's probably parked his big motor boat at the south seaport just to run in and talk to us, which i'm always grateful for, teddy. so where does it all go from here? why the big jump today? it's not because president trump used a prompter last night, is it? >> well, i think it's a combination of things. but it is as you point out interesting. last week we looked like we were on our way to zero, and here we are. we haven't quite recovered everything we gave back last week, but certainly we're two-thirds of the way home. i think it's the prospect once again of some tax relief from washington, certainly goldman's comment to morgan sustainable's comments don't hurt. and then overnight there was a story about the

director of morgan stanley. thanks for coming on. first of all, we are ready had it better setup for this from a policy standpoint. the treasury department had already taken a lead, whereas the health care situation, it was congress driving it. they had handicapped what hurdles were in front of them. when you get to the politics of it. republicans in the house are in desperate need of physic three. their critics that said -- you of paul ryan talking about increasing efficiency in the corporate tax system. it is a fight between president trump and mitch mcconnell and the confusion. >> limit go to a second one in a moment. this is the hardest part of tax reform, that's a, right now. this invites complexity of bringing out lobbyists, special interests, and complicates this. more they can tear it up in advance, it has all the indications stock through. they were going one level at a time with health care. they hadn't boxer different levels. in the sun of mature will work out politically. bring up this sort of the elephant in the room. th

morgan stanley >>> looking at the halftime report wal-mart up 15%. the firm stevens thinks there is room to run. they've upgraded the stock it is our call of the day. kevin o'leary, you own it. you own wal-mart still >> yes, i do, yes, i do. i still own it and my thesis is, it is the anti--amazon name. i know they overpaid for their online assets. i'm willing to forgive them now. because the whole, you know, sentiment about wal-mart has changed in the last six months they were thought to be brain dead when it came to competing against amazon that's not the case anymore. most analysts give them credit for the integration of competing online what they will become with whole foods, the best competitor for that is wal-mart they're already in the grocery category in a much bigger way. they have the same technology in being able to dlimplt i'm extremely bullish. if you want to own retail, two names to own are amazon and wal-mart these are the two companies that will craft the future of what america does in terms of when it buys commodities and when it buys

i don't care if it's goldman sachs, morgan stanley, bank of america, citi, jp morgan, i like most all of those, own many of those. talking about, what was there something to buy, last week on friday after the big down-swoon on thursday, friday i grabbed some red hat i continue -- i think that's one of those where i'm just looking for opportunities in the marketplace. i wanted to see what's going to get pressed down it got down toward 95, now it's closer to 100. i think there are other names out there as well. i actually dipped into nvidia today after it made this big pullback we'll see how the things work out. i think opportunities only come and got to look at those -- >> what's left to buy here, guy, at these levels? >> we talked about 300 being the breakout level, well, a few months ago, now broke through 300, traded up about 330 or so basically came all the way back. i think it actually helps. i think biotech, if you look at underlying stocks like, you know, some of these names, jazz, celge celgene, they put in bottoms in the short term >> what can you consider value with markets a

morgan stanley. >>> thanks very much we're going send it over to sue herera with the latest headlines>> hi, scott here's what's happening at this hour forecasters now think harvey will be a major hurricane when it makes landfall tomorrow bringing with it strong winds and up to 20 inches of rain. residents along the gulf coast are preparing. they're filling up sand bags and moving in generators for what could be a very dangerous weekend. >>> defense secretary jim mattis looked to reassure ukraine about the united states commitment to its sovereignty. during a visit today mattis met with ukraine's president and attended that country's independence day parade. >>> here at home, attention k-mart shoppers stores are closing. they plan to shut 28 locations in addition to the 180 previously announced the full list of closings will be posted today. >>> a short 86 yard par 3 proved to be no match for professional golfer eduardo molonari. it back peddled and fell right into the cup for a hole in one and congratulations to him that's the news update for this hour over to morgan brennan with what

morgan stanley. >>> this sunday, three storms.he first hurricane harvey. >> it sounded like a tornado. >> the hurricane force winds are gone, but the big threat now is rain and catastrophic flooding. a flash flood emergency is in effect for houston. we'll have the latest. >>> storm number two, president trump's pardon of former sheriff joe arpaio. >> do the people in this room like sheriff joe? >> the bipartisan criticism, what we now know about what the president wanted to do, and what it could mean for the russia investigation. >>> storm number three, the president versus his party. president trump goes after john mccain. >> one vote away. i will not mention any names. >>

the value of capital is to create, morgan stanley >>> this sunday, another tumultuous week in washingtonhony wants general kelly to be able to operate fully with a clean slate. >> a white house staff shake-up. congress leaves town after getting nothing done. the russia investigation expands again. this time to include grand juries. and president trump continues to call it, all of it, a hoax. >> the russia story is a total fabrication. it's just an excuse for the greatest loss in the history of american politics. that's all it is. >> it all sounds so familiar. so why do we keep having weeks like this? this morning our broken politics, two parties searching for their identities. the republicans -- >> i

morgan stanley your bbut as you get older,ing. it naturally begins to change, causing a lack of sharpness, or even trouble with recall. thankfully, the breakthrough in prevagen helps your brain and actually improves memory. the secret is an ingredient originally discovered... in jellyfish. in clinical trials, prevagen has been shown to improve short-term memory. prevagen. the name to remember. >>> welcome back we're going to do final trade in just a moment. but first, steph, you have a trade update >> yeah. >> sentiment is so now negative on starbucks, and you sold it. >> i did it wasn't the best call, for sure you know, the stock is trading at 25 times, and it seems like their same-store sales is decelerating to 3 or 4%. you need a 6% comp. to be able to lever that to a 20% earnings indicatinger >> they did a 5% comp. >> a 5% comp. but said things were really not good starting in the next fiscal quarter. what has to happen is, the next quarter they'll report whatever that's going to be then they lower, reset expectations and that's when i think the stock can kind of bottom and kind of mo

frankfort currently seems to be leading the race with the likes of morgan stanley citigroup and goldman sachs already saying they'll move part of their operations there. yet london shouldn't expect a full on financial exodus. many of these transfers will happen progressively. and will only represent a fraction of the seven hundred fifty thousand people currently working in finance and banking. in the british capital. rail let's check in with the markets now wall street was trading down after donald trump threatened a government shutdown. all major indexes were in the reddish short while ago dow jones down nearly three tenths of a percent. after its best performance since in since april on tuesday excuse me. european markets also slipped the session after a solid rally on tuesday as well. frankfurt and paris both close down my london's footsie was completely flat. british advertising giant wpp saw its shares slump nearly eleven percent. after the company cut its full year revenue forecast. two new players are stepping up to the plate to challenge amazon in the voice shopping market. goog

morgan stanley listen up, heart disease.) you too, unnecessary er visits. and hey, unmanaged depression, don't get too comfortable. we're talking to you, cost inefficiencies and data without insights. and fragmented care- stop getting in the way of patient recovery and pay attention. every single one of you is on our list. for those who won't rest until the world is healthier, neither will we. optum. how well gets done. >>> let's do find final trades. >> somebody piled into a whole bunch of nrg calls today, judge. i joined them during the program and nrg and looking for upside there. stock is around 25, they were buying at the 30 -- >> did the trade during the program. >> did the trade during the program, during the commercial break. >> just checking. >> you know, 3m was one of the stocks that did not do well in the recent earning seasons and for the past few days it's down today and i think it will continue to go down. no momentum to the stock. >> josh brown? >> i would continue to fade any and all mexican wall rhetoric, ksu is still on the verge of a brea

morgan stanley moving down to 650. does it play into your thinking when you run the stoxx numbers?umbers? douglas: china's trying to rebalance their economy. the context of china and just is one of the only global countries to reduce their reliance on exports at the moment. even in the context of now, on a trade week basis, we have seen a strong r&d. manus: i read your notes on banks. i went through some of them. i got to the end and i go right, you got nonperforming loans being one of the bolsters it i'm confused. -- bolsters p i'm confused. these are some of the names we have got. douglas: the artists -- they are stable at these levels. for five years now, everyone has been just describing the npl risk to china and ignoring it. the reality is at the moment, because of this strength and demand and the classic consolidation, which are the prominent and credit risk areas in china. those are the results we saw and the demand for npl and suggestion is very high. manus: douglas morton, thank you very much. ♪ manus: a warning to washington. donald trump tells lawmakers do not fumble the

looking at the s&p, i talked about 2500, but i saw morgan stanley came out with 2700, which is anothere: either way, we are going higher. let's talk about your trade of the day. it is canadian solar. this comes off first solar coming out with better-than-expected earnings, lifting the whole sector. you think canadian solar is at least going to maintain some of this game over the next six months or so -- this gain over the next six months or so. >> also, we have a summer melt markup melt up. we saw for solar take off, and we had canadian solar take off. this was a stock that traded between $12 and $16 in the last few weeks. now it's giving us a second chance, a second chance on solar to lean on that $16 level. what i'm looking at is the $14 call for january, trading at $400. that for dollars, project it on top of $16, that takes it to $20. the option will gain 50% in value. julie: i'm just curious -- why give it -- i know i have asked you this question -- why give it so much time to play out? how do you pick the time horizon? >> that segues into volatility. volatility is still low, and

we've got morgan stanley the end of 102 by march, which would mean further upset.aying we'll see parity by year end. you have uncertainly over brexit also have the e.c.b. expected to further wind down its purchases. what'sthat affecting going on between the euro and pound. >> let's take a look at commodities. crude falling a decent amount, 2.7%. gold selling off a little bit. there, downown 1.1%. we talked earlier about some of mediocre chinese data, perhaps taking the wind a little bit out of steel. and minnesota wheat down to its lowest level in seven weeks. getting -- the soft commodities getting hit, continuing to be weak today. and those are today's market minutes. miss?"t'd you a spike in volatility last week, markets treading off the biggest. where might investors expect a correction to come from, if one due? let's bring in peter borish, chief strategist for quad group. we're all looking for signs that a correction is near. at every single time, we have draw down, everyone comes in to buy, including today. >> so i love the name of the show. "what'd you miss?

morgan stanley. >>> welcome back to "halftime report." julia boorstin it was another bad weekend at the u.s. box office, dragging the summer numbers down nearly 11% from the same period last year while the year-to-date box office is now down nearly 3% and the theater stocks are suffering. cinemark shares down about 3% down today regal entertainment shares down nearly 2%, although the stock had been down more earlier today. back over to scott wapner and the "halftime report". >> julia, thank you so much. >>> we'll have much more with egl oma's e cooperman straight ahead. "halftime report" back in just two minutes. >>> back oon it will "halftime report" with leon cooperman. the financial sector hitting its best high in adecade are good times still ahead, do you think, for bank stocks >> i would expect the bank stocks to be higher 12 to 18 months from now. i actually am not represented directly in banks. we have been in other financials, i mentioned first data, which was finance technology, we can call it what you want air cap in the leasing

morgan stanley saying it sees 2 in poundsing to 10 by march.p's -- hsbc which sees a one-for-one trade by the end of the year. this was a risky call to make but is becoming more mainstream so i will be asking a lot of our guests about this chart in the next couple of days. bloom, the character involved in a story. ftse 100, up .1%. let's see how markets start the day. we are accepting -- expecting .4% out of some of these. cac how a little bit. interesting to see how danone performs. dax trading up as well. carrying on the rally we have spent seeing -- than seeing. gain in thebig grand scheme. let's see how it breaks up in industry groups. onn you look at the imap bloomberg of the stoxx 600, many more reps are gaining than losing. materials and energy are the only two lynches so far -- losers so far. consumer staples and i.t. leading the pack as far as the gainers, but eight out of 10 are gaining and two out of 10 are falling right now. let's look at the move screen and see what is going on. standard life aberdeen up by 2.95, two companies that

the value of capital is to create, morgan stanley >>> this sunday -- violence in virginia. >> disperse immediately or you will be arrested. >> white nationalists clash with counterprotesters in charlottesville. one person is killed when a car plows into a crowd. we'll have a report from are the screen th scene this morning and i'll talk to the mayor of charlottesville. >>> plus, the esident's reaction. president trump denounces the disturbance but not the n neo-naz neo-nazis, nor the klan participants. >> we condemn in the strongest possible terms this egregious display of hatred, bigotry and violence on many sides. >> did the president fail his first test as healer in chief. >>> and the president's tough talk on north korea. it started here -- >> they will be met with fire

vonnie: thank you for your time today, morgan stanley chief u.s. economist. there's a second jeffrey at the line capital. more on the cio and his son. this is bloomberg. ♪ vonnie: this is "bloomberg markets." today of gamestop falling , hitting lows not seen since 2012. the videogame entertainment and harvard avenue posting a mixed tag of earnings after the bell yesterday great bloomberg's emma chandra is here with more. she said she's not a gamer. a long time ago against my little brother, i used to win. that thinks they reported after the bell yesterday and initially shares were up in aftermarket. then it took a turn. the topline numbers were saying they posted a net sales return positive, but if you dig into the same-store sales numbers, you can see why the shares are falling. we have a chart that shows them. you can see the hardware was positive by 14.8%. this is all about the way the gaming industry is changing, as people move away from physical consoles and towards more digital gaming. obviously hardware did do well despite the fact it's this legacy ide

morgan stanley keep the conversation going on msnbc.com/hughhewitt.ou next week on saturday morning right here on msnbc. and packages. and it's also a story about people. people who rely on us every day to deliver their dreams they're handing us more than mail they're handing us their business and while we make more e-commerce deliveries to homes than anyone else in the country, we never forget... that your business is our business the united states postal service. priority: you ♪ hey. what can you tell me about your new social security alerts? oh! we'll alert you if we find your social security number on any one of thousands of risky sites, so you'll be in the know. ooh. sushi. ugh. being in the know is a good thing. sign up online for free. discover social security alerts. whyou're not thinking clearly, so they called the fire department for us. i could hear crackling in the walls. my mind went totally blank. all i remember saying was, "my boyfriend's beating me" and she took it from there. and all of this occurred in four minutes or less. i am grat

the financial etf hitting its highest level since december 2007 today bank of america, morgan stanleyti, goldman all pushing the space higher rallying 2% or more. this is a little bit of a reversal >> right this has been the second worst performing sector. there's a little bit of life for the first time we're going to figure out whether this has legs or not whether anyone who's been in banks has paid dearly. you might be up, you have underperformed the market. the question is now is there alpha? i have a two panel chart to start and i want to basically highlight the pique in rates rates essentially were at 4% that's the right panel here at 3.6 and hook at this -- look at this. sn this is the key thing. watch. even as this is going down, we have performance that's starting to -- let's reverse and go to the next slide ready. watch this now, i have the xlf. you could draw your lines anywhere you want. i think you can draw one like this i think you could draw another one like this. you can draw your lines like this put in the top line. same thing there's tension here we've made no progres

. >>> morgan stanley downgraded its rating on tetha pharmaceuticals from equal weight to underweight saying the drug maker's disappointing generic business will take more time to improve. the firm also said it underestimated how much of an impact competition was in that industrial will ha on the company's long-term earnings. last week you may recall we told you shares of tetha were lower after cut its guidance and dividend. shares continue to fall today plunging 10% to $18.59. >>> tyson foods reported higher sales. company said there was heightened demand in the u.s. for beef and pork products. the result surpassed analyst expectations. earnings also beat street targets and prompted the meat producer to lift its forecast for 2017. shares up were more than 5%. >>> the life insurer brighthouse financial, a spinoff of met life's retail operations, began trading on the nasdaq today as an independent company. m metlife spun off brighthouse do increase cash dplflow and lower dependence. the company's debut was rather dull with some analysts saying life investors sold off shares does it did