morgan stanley, jpmorgan and wells fargo up about 3%.nd dan is taking a look. >> we touched on the banks in the first week of december on the show i think we were all in agreement that the underperformance for 2018 was a really bad tell for this group what happened in december? the bank group crashed, at least the u.s. banks did citibank in particular dropped 25% in a month down to its christmas eve lows that's the one we're going to focus on again what are some of the reasons over the last couple of days that maybe have been spooking bank investors there's been a lot of rumors that deutsche bank is going to be in a forced merger with commerce bank. we have a 20-year stock of the euro stocks banking index. this thing is banging along the lows it's not just deutsche bank that european investors are worried about there. and i also want to say there was a really interesting deal this week now we have the two regional banks, bb&t and suntrust merging in a $66 billion deal. they're the sixth largest bank kind of weird, the biggest deal in ten

morgan stanley. starts with looking buiat something old,nk and saying, "really?"is building something completely new. capital one cafes. inviting places with people here to help you, not sell you. and savings and checking accounts with no fees or minimums. because that's how it should be. you can open one from right here or anywhere in 5 minutes. seriously, 5 minutes... this is banking reimagined. what's in your wallet? >>> 12:30 we're seeing the dow is up s&p up a little. nasdaq turning a little negative time now for your unusual activity report. pete has dug himself out from minneapolis deep freeze. what are you seeing? >> i'm looking at the fxi, what's interesting is really late in the day yesterday, two minutes before the close, we had a buyer of a february 44 calls in this fxi. very large about 16,000 today early in the session about 12,000 of the march 46 calls for purchased in the fxi as well that was already a very large open interest. this is adding to that with more buying it's interesting to see so many paper going into this fxi expecting this to contin

it suffered by more than a decade of morgan stanley. a spokesperson declined to comment.hat's your business flash. thank you so much. ryanair has reported a fourth-quarter after-tax loss of 19.4 6 million euros. down for a profit of more than 100 million euros a year ago. they cannot rule out further cuts to guidance. this as they face a slump in fares and ongoing brexit uncertainty. ofning us is the cfo ryanair. joiningu so much for us. we heard the news there. we heard about the loss. you talk about price competition in the statement as well. how are you actually going to respond to this? can you cut some roots and basis? we are to growing very strongly. we increased capacity for target a couple of weeks ago. we are going to do a we always do. lower fares, lower costs, and grab market share. that's exactly what we're doing at the moment. never been a better time for our customers. this huge amount of overcapacity in europe at the moment. some of the capacity comes out and has been helped by lower fuel. fuel has dropped from $80 a barrel to $60 a barrel. we are going to

alix: coming up, the morgan stanley chief u.s.rategist and ubs asset management head of u.s. intrinsic value equity. market off the lows of the session -- the european banking sector getting no help from hsbc, down 1.5%. in the market, the dollar stronger against most currencies with the exception of the cable rate, flipping into positive territory. crude moving on its own fundamentals on this risk off day. this is bloomberg. ♪ alix: walmart crushes it. the company delivered its best holiday quarter in years. flying in the face of unprecedented drop and retail sales. -- in retail sales. europe bows retaliation for u.s. auto imports. --ren's childcare plan europe vows retaliation for u.s. auto imports. we speak to dr. paul romer. david: welcome to "bloomberg daybreak." president trump tweeting out about this lawsuit that's been filed by 16 states. it got filed in the ninth circuit in california, the state that has wasted billions of dollars on out of control -- not sure how those things connect. not directly talking about elizabeth

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morgan stanley upgrading to overweight on copper prices.ke a look at hotels -- hilton had a great quarter. they recognize are estimates -- they beat estimates and they took in one of their revenue guidances. but the street is it saying very achievable, the shares rallied and taking marriott up. guy: great stuff, abigail. run around the markets. coming up, the ceo of teva will be joining us. call finished just a while ago with analysts and he will be joining us on bloomberg. ♪ guy: live from vonnie quinn. this is "bloomberg markets." teva pharmaceuticals is down today. perhaps on the forecast for the year ahead. here to talk about a year ahead for the company and industry in general is kÅre schultz, ceo of teva, first broadcast interview since taking the role a year ago in november of 2017. you started your restructuring with a bang. he said this year you will close 11 more manufacturing facilities and you will make the cost-cutting market. still on track? : very much on track, a plan we laid out more than a year ago, and the goal is to redu

i included morgan stanley because of the m&a.ley is buying the company for $900 million, the biggest purchase in a decade. caroline: market reaction up 43%. scarlet: morgan stanley down for a fifth straight day. let's dive deeper into today's action with our markets reporters. abigail, what are you watching? abigail: you're talking about the dollar and the eight-day rally. here are the eight days. there are a couple of theories behind the strength. this one coincides with the fed's pause. it could be central to other central bankers that they will get dovish. the dollar would look stronger in relation. that is complicated. because be a haven bid considering we have emerging markets down. it looks like the dollar index will keep going higher. look at this chart going back to 2011. we see this long-term uptrend. when it goes above the 200-week moving average, we see it tends to go well above it, especially a couple of years ago. backp of it last week -- above it last week. suggesting we could see the dollar index go back towards th

jpmorgan, wells fargo, morgan stanley only up 3% is this the beginning of the end for the bank rally> i think it is we touched on banks in the first week of december i think we agreed the underperformance for all 2018 was a really bad tell for this quup what happened in december, the bank group crashed at least the u.s. banks did. citibank in particular dropped 25% in a month, down to its christmas eve lows i want to hit on a couple of things what are some of the reasons the last couple of days that maybe have been spooking bank investors? rumors deutsch bank is going to be in a forced merger with commerce bang. we have a 20-year chart of the euro stocks banking index. this thing is banging along the lows it's not just deutsche bank that european investors are worried about. interesting deal this week, the two regional banks, bbnt, sun trust merging in a $66 billion deal, it would be the sixth largest bank the biggest deal in ten years are i want to make a point when you're talking about forced merger or a merger that's supposedly done out of strength, a decade ago, 2008, jpmorgan wa

morgan stanley is bullish on that stock.ew record low. $15.4 billion write-down of assets. 7.7% of berkshire hathaway's overall holdings. interestingly, we have a bit of a rally, a decent rally. not really fitting from across the asset class standpoint. the ones for that stocks. guy: interesting stuff, abigail. volkswagen,home of of course. line.start with the top estimates of 236.9. trading at session highs. slightly shy of the dividends. vs. anillion or estimate of 17. slightly up their bank. margin of 7.5%. the 7.3 line in 2018. we could see a little bit of a shift. you are likely to see it a bit lower in terms of the operating margin. the stock now is trading at the top end. 1.35. we are hoping to hear from volkswagen very shortly. we will get details. is set president trump to meet with china's vice premier liu he. kevin cirilli is at the white house. will there be a joint statement, kevin? kevin: we don't know. trump during these meetings typically does have an interaction with reporters. it is just one week before the

i'm really excited to be part of the morgan stanley team. i'm justin rose. we are morgan stanley.ct conversation] [friend] i've never seen that before. ♪ ♪ i have... ♪ >>> here we go, tonight a statement on behalf of jussie smollett calling his arrest and court i want to talk about this case now. he's the author of "words on the move." and i thank you for joining us. i read your article on this, and this is before you saw everything, right, that was laid out. >> this was five days ago. >> it's called what the just ae smollett story reveals. you call it victimhood chic. what do you mean? >> well, what i mean by that is that in a way this isn't surprising what he did. and so as culpable as he seems to be, and i'm using seems only being very polite -- as culpable as he is, still he didn't get this out of nowhere. this is young man that figured out that he could be more interesting as somebody who was jumped by maga shouting white guys than he is as the very deft star of a really interesting tv show. so what this means is that in a way all of us are culpable in that if we're a part of

tom: morgan stanley look like geniuses in december. have is morgan stanley reset into march?rew: need to take a look at where is there still outside were a lack of upside? there is a pretty clear difference between the u.s. story and u.s. asset story than what we see in overseas markets. we still have upside toward emerging markets and fixed income. we are above for the s&p is expected to finish in 2019. i really do think that this is a market where investors should use this strength to rotate assets. guy: in that scenario, what is a in emergingeight markets? andrew: obviously, it relates to -- i do think that you are seeing a five-year period where emerging-market assets have come up well in the last few months. i think this is a trend that has quite a bit of legs behind it. i think we are seeing market pricing expectations further on fed tightening start to five now. you're seeing the rest of the world -- we saw some tweets from the president yesterday hinting the huawei issue could open the door for a wider trade deal to take place. requirement that the u.s. and china reac

and goldman sachs act horrible morgan stanley is one of the worst looking charts in the entire marketere the i agree with his broad market call i don't know that you would go into a group that has underperformed over the last two weeks as the s&p has made new highs consistently on what feels like vapors. >> you make some very good points let me give the other side let me give you the bullish case to it. we just talked about oil going higher, about inflation picking up what's going to happen to the yield curve? that yield curve is going to steepen. it already is a tiny bit if that happens to the extent that investors think that the yield curve drives bank earnings, that is positive for the banks. >> i feel like bk is very bullish tonight. maybe it's a bull suit he's got zipped in the back sl that's a guarantee the market's going down. >> i will tell you my view is the same i've had on financials in the last couple of months i look at money center banks, banks are telling you it's a recession nar economy. regional banks, a driver for that sector, regional banks trade well through their

we are morgan stanley. >>> welcome back to "fast money. patient powell strikes again our senior economic reporter steve liesman is standing by in the newsroom with all the details. >> fed chairman jerome powell offering a generally dovish outlook on policy. didn't close the door entirely on another rate hike this year but emphasized the fed is in a wait-and-see mode. >> the committee has decided that with our policy rate in the range of neutral, with muted inflation pressures and some of the downside risks we've talked about, this is a good time to be patient and watch and wait and see how the situation evolves. >> so if it sounds like he said that before, it's because he has. powell stuck very closely to words from his january fed meeting and the press conference when the fed pivoted from a policy of gradual increases to a policy of patience powell offered an optimistic view on the u.s. economy but the headwinds he was talking about were foreign and domestic, saying they have clouded the outlook. powell suggested he didn't see any threat

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so you can say it is more like incubation for future millionaires for morgan stanley back to you. >>ncubation for millionaires i like it i'll take it. suzanne thank you very much indeed. two big stories on big tech technology generally. today president trump signs executive order creating american ai initiative. that's to a guy art a official intelligent developer here in america. also today ibm robot would debate a human. joinings now gill the director of ibm had research and he's going to make me understand what this is all about so okay you have the robot -- and you've got a human oxford educated human, and they're going to debate an issue, an issue well -- did they know does the robot know what the issue is in advance? >> no, he doesn't. project debater knows that, of course, he's part of a context of a debate so you know, that sets -- but it does not know the issue. he knows he needs to debate something but not topic himself so neither does contest tabts. >> how will robots establish its position on this issue or unless you taught it something? >> so the system has been created

morgan stanley builds on attracting younger clientele.m watching, next. this is bloomberg. ♪ alix: morgan stanley, a deal, $900 billion, buying solely them capital. a play on stock plans for corporations. it gives them access to corporate clients and a direct lens into their employees. it helps the stability of wealth management. david: it is not directly to consumers. it is through the corporation. alix: a stock plans through the corporation you work in. i think it is interesting they are making this acquisition to broaden that out and going more for my 401(k) stock plan versus the high net worth individuals. david: that is an interesting move for morgan stanley. i think more and more the ultrahigh net worth. alix: everyone seems to like the diversification. that is it for bloomberg daybreak. , hsbc global equity strategist. they take a look at the market with equity somewhat underway after the best week of gains for the dow since 2017. the dollar continues to grind its way higher. this is bloomberg. ♪ comcast business built the nation's

i'm really excited to be part of the morgan stanley team. i'm justin rose. we are morgan stanley.k to win in all four major awards is the one more people rely on. choose america's most reliable network on the best device, iphone. now get $300 off the latest iphone. >>> do you hear that do you hear that clock that is the sound of time ticking towards a trade deal as the s&p 500 inches back to new highs. it looks like the market is pricing in a done deal bob pisani joins us from the nyse with more on that. >> a lot riding on this. in a recent note to clients there was very interesting points he said the market sentiment for a deal has been lifted because president trump is expected to meet with chinese president xi jinping toward the end of march. the president recently said there was a very good chance of reaching a deal. that's important what about that march 1st deadline the market seems comfortable that the deadline will be pushed back with tariffs remaining at the 10% level. now, what if it's not comfortable? what happens with the market here it's not comfortable with the prosp

cut morgan stanley's earnings estimates. he didn't change his rating on the stock. think, morgan stanley? >> a lot of the stuff he's saying is not applicable to the other big financials he's talking about icc and trade volumes and things that maybe not every -- like jpmorgan is not going to be a similar story, i don't think. so >> he brings up the lower fees, which tells you about the situation going on in the financi financials >> i don't hear too many people these days talking about the financials on this program >> that's one. i think jpmorgan had been up there toward that 120 level and it got beat all the way down toward 100 >> you have to be super selective is my point. >> you need high rates >> a steepening yield curve and financials to work >> morgan stanley today says microsoft is the best risk reward in software they go 140 on the price target. what do you think? >> i think the company is still really well positioned it's been a great performer, it's done well so we're sticking with it, we continue to own it would i be buying more here? maybe give it a brea

i'm really excited to be part of the morgan stanley team. i'm justin rose.morgan stanley. >>> i would like to say there's always a bull market somewhere and i promise i try to find it just for you right here on "mad money. i'm jim cramer see you next time. narrator: in this episode of "american greed"... ...when a prominent family in a small oklahoma town is found murdered, their son is the only suspect. there are four members of a family. three of them are dead. narrator: trust-fund kid alan hruby starts his white-collar crimes early. byers: those watches and that trip, he stole it. there's just no other way around it. narrator: but when the money runs out, is he willing to go even further to satisfy his hunger for cash? you've got one chance to explain to me how this happened. and later, in chicago... my grandmother would be very proud. narrator: businessman seth gillman cares for the most vulnerable, while raking in millions. he used to fly out of the country just to go shopping for his clothes.

i'm really excited to be part of the morgan stanley team. i'm justin rose. we are morgan stanley.vicenow put our this changes everything. you're right sir... everything. no not everything, i mean you're still blatantly sucking up to me gary. brilliantly observed, sir. always three steps ahead. six steps ahead. sixteen. so many steps. you done? a million steps ahead. servicenow. works for you. >>> welcome back and good monday morning, 5:23 on the east coast. today sa big day for berkshire hathaway, warren buffett and maybe you. first, we talked about the crushing of kraft hines stock friday and berth shire hath away taking a big hit in that company. they swung to a 25 billion loss in the fourth quarter mostly because of the kraft hines write-down berkshire hathaway and buffett own 27% of kraft hines perhaps due to when that news broke on friday, buffett did not mention kraft hines or that news in his annual letter to shareholders, which was released on saturday. he likely wrote it earlier now buffett also did not give specifics on how he would spend berkshire's growing cash pile, s

morgan stanley warns of complacency.ys the volatility assets -- the doves versus the dove plus. the fed divided on the hurdles for the next rate hike. david: welcome to "bloomberg daybreak." soybeans.ews, the alix: soybean prices up 1% on the news. news, youe headline are still seeing weakness in the equity market. euro-dollar up .1%. a stronger dollar resilient story. services stronger, manufacturing weaker, that theme playing out in europe. yields on the back end up three basis points after the fed came out kind of dovish but not as much as the market participants thought. anye up .1%, reversing earlier losses. starting at 8:30, we will get a series of economic data, starting with jobless claims and durable goods. 9:00, u.s. manufacturing pmi's. 10:00 this morning, u.s. home sales. then, the treasury will be auctioning 30 year tips. headline, china pledges $30 billion a year to buy ag imports from the u.s. joining us now, michael mckee. that's a lot, double what we saw in 2017. michael: it's not double. it continues th

us bank morgan stanley thinks that if the north korean economy did open up to the rest of the world ithan vietnam and attract $9 billion in new investment every year. let's get more on this story and speak to miha hribernik, who is head of asia research at the consultancy verisk maplecroft. he is in our singapore bureau. how much of a potential is there then. in reality, out of the talks? well, on paper, north korea's economic potential is amazing. every sector of the economy would need to be modernised, in some cases rebuilt from scratch, infrastructure would need to be updated, rebuilt. north korea has an estimated up to $10 trillion worth of untapped mineral reserves. you already mentioned the potential for low—cost manufacturing, for example. i mean, it's a bit of a cliche, but it is one of the final frontiers on the planet. how many places are there that are still completely isolated economically and had nowhere to go but up? the problem is, in practice, of course, there are a semi— obstacles of course, there are a semi— o bsta cles as of course, there are a semi— obstacles as to

basically morgan stanley made their largest acquisition since the global financial crisis.re paying out $900 million, which is 43% so solium last price. it manages stock options and in the very generous compensation packages. not just any companies. tech startups, like stripe and instacart from india. they may not be rich now, but if they have a very successful ipo, a lot of stock options may turn into millions or maybe even billions. that funnels nicely into morgan stanley asset management and wealth management which overseas $2 trillion worth. they really need to compete in the online tech space with the likes ever fidel and e-trade. they are looking for younger clientele. they may not be even familiar with the wall street names like ms. morgan stanley seen more stable revenues and stable profits since 2000 but they have had problem with trading in the last quarterly earnings. wealth management seen more stable and possibly more lucrative with shrinking balance sheets with a lot of wall street firms. neil? neil: susan, thank you very, very much. amazon had already made it

investor is with us live see which big names he's putting his money behind >>> the mining stock morgan stanley digs. it's our call of the day the halftime report starts right now. >>> welcome. good to have you with us on this wednesday. let's begin. the rally stocks posting another strong day nasdaq now on track for its 8th straight week of gains the s&p closing above the 200 a day moving average for the first time in two months joe, don't look now, s&p is only 6.5% from its all time high. it's been quite a comeback all the way across the board >> it has. you're getting some participation from the energy market you're getting participation from financials themselves we are seeing a dramatic shift in sentiment to a more optimistic outlook we want to see if we'll get earnings recovery with that as long as the return of the business confidence once again and then the big question goes back to what i thought was great point you brought up yesterday and i agree with where will the federal reserve be if we capture that. >> is your biggest risk now not being engaged in stocks? >> it's one word that c

we've still got morgan stanley strategist jonathan garner.ast year, some dollar liquidity issues that we had with the whole atmosphere dominated by a tightening scenario from the fed. has that dovish tone changed the game? yes, it is one of a number of important reversals. the other being china's policy. we also have had a lower oil price. that is important for asian emerging markets. about 90% of market cap sits in oil exporting countries. these reversals are likely to drive earnings growth reversals. we think earnings growth will react seller rate to at least 7%, maybe higher. we think u.s. earnings growth decelerate. colleagues in the u.s. have cut earnings growth. to first inrom last terms of earnings growth. that is a plus. we just talked about some of the pillars underpinning this broad appetite when it comes to e.m. that ati also both know the end of the year, one of those things will change. if you had to pick the least threats, is it the fed, oil, what would it be? jonathan: the one that is least likely to change i think would be the

morgan stanley upgrading their aboutendation -- 33% to $20.y lower than where we are at the moment but it is on the improvement in the reform efforts that morgan stanley is optimistic about. reforms in salary incentives. a bigger presence in urban areas for china life. they do like that business turnaround. 1.6%. financials having a pretty good day. and brokerage firms as well. we did hear that regulators had approved and a share listing of its high tone unit trust unit as well. one more board to show you. tektronix. this is a u.s. power tools company listed in hong kong. they manufacture a lot of their products in china. 8%.ng to the biggest gain we have seen all year. intourprisingly added them the index there. that stock is looking positive. a lot of active funds. addaps this inclusion could more domestic retail investors. power has asources renewal. but is down more than 5%. we are coming down to the opening of the session in mumbai. just about an hour away to the opening there. what does the opening look like? >> halloween good morning. t

among individual names leading that sector higher, big banks like wells fargo, morgan stanley on thes, asset managers, t rowe price, worth noting, despite the rally, financials are one of the three s&p 500 sectors trading in what call correction territory, still down 10% from recent highs march of last year david, back downtown to you guys >> okay. i will take it, dom. s&p up roughly 1%. as dom said, a broad rally at this point what have you got coming up on "closing bell" today >> we have a good interview coming up later in the show. albuquerque vice chairman joe tsai here with us, 4:00 p.m. eastern time an important read on the chinese consumer and its economy and also the state of play with the trade talks going on in beijing, what's the level of optimism from china is it as strong as it appears to be on wall street. another really strong day. >> see you this afternoon. sara, thanks. >>> shares of chang surging after results. the ceo is with us and an interview, sitting down with ginni rometty when "squawk alley" starts in three minutes when did sleep become something that require

i'm really excited to be part of the morgan stanley team. i'm justin rose. good morning and welcome back to "squawk on the street." i'm david faber along with morgan brennan and mike santoli. we are live from post nine at the new york stock exchange. carl is on assignment this morning. sara, she's been off all week i think. let take a look at the markets this morning half hour into trading you can see that we are, well, kind of nowhere. a little bit down on the s&p positive comments certainly on trade from economic adviser larry kudlow moments ago here on "squawk on the street," but overall a down day for two of the major averages. >> well, our road map starts with the strongest economic expansion since 2015 annual growth hovering near president trump's 3% target. >> plus, u.s. treasury secretary steven mnuchin joins us to discuss trade, gdp and president trump's economic agenda. >> nuclear talks with north korea falling flat as president trump walks away from the summit with no deal we're going to bring you the latest from hanoi. >> the president's second s

ik: we know greg fleming's name from morgan stanley and merrill lynch.w that greg fleming runs a marathon. great to see you. gregory: great to see you. erik: let's remind everybody what you're doing. rockefeller capital management. yet the legacy business of rockefeller and company but you are doing more. the core of what we are doing his wealth management for ultra high net worth individuals and family. high end wealth management. we do it through rockefellers global family office. a privateat we have wealth management division and a multi family office. the private wealth management division leads with the investment focus and the multi family office is more planning led. we announced a new president, tim o'hara, who had a long career in that space. clients get the same products and services whether they are in the private wealth side of our family office or the multi family office line. the multi family office is little bit more planning, the other side is investment led. you get asset allocation, investment advice, crossgenerational planning, a full

morgan stanley will be the latest to report after the bell along with

now is the lng ceo and the morgan stanley head of global fx strategy.ticking around and joining us. nigel, welcome to the program. we love to talk to you about -- how is brexit panning out? >> interesting the prime mister walked past me and striding purposely. thed to figure out implication of a stride for feature outcomes. this will be a long and complicated process, a lot of us got that is the weight will play out. parliament is edging forward. thate moment, our view is a deal will result. francine: some kind of compromise? andolitics between us europe has always been compromised for the last 30 years. going forward, there will be compromises made, and that is a good outcome. you do not want one side to feel they have won. both sides have got politics determining economics, which is not ideal. in america we have a political overhang slowing down growth in the united states, in the u.k., and now in europe and we have to have political clouds lifted. it is up to the politicians to do that because everybody wants to get on with their lives. and have a go

citigroup and morgan stanley are also pushing for the changes.nne: a new factory in wisconsin. trumpairman and president . the announcement is a reversal that foxconn was ready to abandon a project that deliver 13,000 new jobs. a massive incentive to build the plan. wisconsin's new governor says the deal is "lousy." ab is said to have picked jpmorgan and morgan stanley for an initial public offering of its asia. one of the region's biggest share sales this year. we're told hong kong is being considered. a final decision hasn't been made. they could raise more than $5 billion. only three asian share sales topped that last year. telle: more earnings to you about. checking in on sony shares. falling the most in 2.5 years. slower growth in its playstation business. cutting revenue forecasts for this year. down 8.3%. technology in our editor. he joins us from tokyo to tell us. what is going on with sony? sony reported on friday. one of the key things to watch this time around is playstation. if you think about it, the playstation 4 has been around for

morgan stanley also downgraded for it finally, morgan stanley cutting its price target on amazon, downhare. the revenue came in light, but key profit drivers remain in place. we are off by 5%. weighing on the nasdaq today. we want to move on to our stock of the hour, because shares of deckers surging as third quarter results beat analyst estimates. when we say deckers, we are talking about the makers of ugg's boots. >> that is 90% of their revenue, in the most recent quarter. mind, this is a company that is seasonal in terms of their business because fourth-quarter in the calendar, people getting ready for winter. ugg boots. that is what they are buying. that is the book of their business. caroline: and an international business at that. how is it going to be affected by the dollar going forward? comedy companies will see this? >> whe--how many companies will see this? >> you can see a definite distinction between the u.s. and business.gn international down 2.6%. that fits in with the theme of copies having challenges when they operate internationally. caroline: we will keep a close ey

we're thinking about adding morgan stanley to our portfolio. >> and you're right.ple in organize, my daughter always says got horse sense. i want you to buy. >> buy, buy, buy, buy, buy, buy! >> one of the best quarters that everybody hated. it was not clean, it was not perfect, and that's where the opportunity comes. i say morgan stanley's great, and i say oregon's great and i like dutch brothers coffee when i'm out there let's go to loy in illinois. loy? >> caller: big boo-yah to you, jim. i thank you for all the great advice. >> thank you nice people tonight. >> caller: my question, canopy growth. >> i had them going back and forth on twitter @jimcramer, back and forth and back and forth. i feel this last move from 45 to 50 needs time to digest. i'm walking away for now if it goes to 60, it's going to do without me. i don't mind i've been behind it a long time and i don't want to get anybody hurt can i go to steven in georgia. steven >> caller: yes, sir, my hat's off to you, jim. >> thank you >> caller: the principle financial group. >> that quarter wasn't so goo

according to morgan stanley analysis of new treasury data.aughn is with the latest. >> very good news for americans filing their tax return, announcing rolling in up to this point, new data shows returns are outpacing where they were this same time of year and morgan stanley says, they're still strong consensus that americans are going to get more money back because, because withholdings were also higher, that is one of the side-effects of president trump's tax cuts and jobs act. the tax policy center says on average taxpayers should see the taxes drop over $1600. newest data from the treasury following last week's filing, returns picked up the pace following notably slow start to the tax season. refunds were down8.7% total through february 8th. last week returns coming through ticked up, striking past last years's total at this time. numbers fluctuate as returns trickle in week to week. part of the slow start caused by the 35-day government shutdown that caused a bottleneck with processing all the returns. analysts expect bigger checks on th

morgan stanley now waiting for a positive outcome. garrity has a bullish trade ready. 14% upside to copper prices thanks to what it calls the stars aligned moment. while many people look at copperas industrial metal, demand is often seen as a proxy for heavy industry stocks in china's economic strength or weakness. china accounts for about half of the global demand. morgan specifically says china's thirst for copper is expected to pick up this year and could drive prices from where they are now, $2.78 a pound to $3.12 a pound. trade credit insurer has a new report out saying business failures and insolvencies in china will rise 20% this year. that on top of 60%. take a leap of faith because we don't know the outcome of trade negotiations, but where is the trade you see far viewers. >> i'm sorry. liz: that's okay. i wouldn't get too far ahead of the curve here. they are kind of getting over a little bit. it is not over until it's over. back and forth, eventually this will get resolved and all of those industries in fact there is better

downgraded to equal weight at morgan stanley.go. downgraded to equal weight at morgan stanley. finally, take two downgraded to underperform from market perform. the price target cut to $80 a share from $119. lackluster game sales have finally caught up to take two's valuation. scarlet: republican senators are speaking to reporters about the .urrent shutdown talks also in washington, president trump set to meet with andrew cuomo in the oval office. the two will discuss the state and local tax deduction, a change to the tax policy that limits how much taxpayers can deduct from taxes -- we are joined now by bob menendez from new jersey. thank you forez, taking the time to speak with us. legislation --ed why now when the senate is fully controlled by republicans? how far can it get? >> the house is controlled by democrats. my colleague in the house sitting on the ways and means committee and the senate finance committee have joined together. i'm looking forward to them being able to send it over to the senate and have leverage in the

we are already at 2700 on the s&p 500 which is morgan stanley's normal case for what we think we would end up at, but at that rate we would be well over 3000. that's a little bit too optimistic, so the market and economy, two different things, the we have a slow growth economy, and is supported we keep it going to spending, spending is 75% of our gross domestic product and total consumption. that's why this report today is positive. >> that is what the numbers have shown, people feeling optimistic. all right, george, always a pleasure. mark? >>> those rainfall numbers going up as well, heather, and we have some intense rainfall. it has hung up in the north bay. it will eventually spread to the south, but showing you that radar. take a look at this. right now we have heavy rain and santa rosa, just light rain at sfo, and is cloud cover in the south bay. it's kind of been the overall trending team all day long, but those numbers really adding up in portions of the bay area. petaluma over two inches of rain, san francisco approaching 0.5 and ends, livermore only 0.2, and san jose just tra

, this is the year we're supposed to get hundreds of billions of dollars of tech ipos the way morgan stanley and goldman sachs, the two in the pole position on all those, look at how they ago and the volatility we've seen and trading, they act horribly look at the spread between the 2s and 10s. i don't see it and to me i actually see the banks acting the way they do much of 2018 the same way as really a bit of a canary in the coal mine when you think -- >> in a negative way. >> in a very negative way. put that with oil. that's why i said a few minutes ago. >> thank you so much good discussion. we are nowhere being done. we're just getting started how about a car that doesn't need any oil tesla in overdrive despite job cuts and new rivals. that stock soaring we'll tell you why wall street is expecting an even bigger rally ahead. >>> plus, a number of stocks within striking distance of their all-time highs so what does dan say all these stocks have in common? he'll let you know. >>> later, guy adami needs new pants but other than that he is getting ready to step up to the plate to tell you the

morgan stanley. ♪ ♪ our new, hot, fresh breakfast will get you the readiest.>>> welcome back we've got an earnings alert on nvidia that stock ripping higher in the after-hours session. let's get to josh lipton in san francisco. the conference call is under way. hey, josh. >> melissa, we're hearing from a cfo and she's talking about this q4 revenue drop that we saw driven mostly by the drop in gaming you saw gaming revenue $954 million, down 45%. among the reasons they talked again about this crypto hangover they saw but exiting q1 they expect channel inventories to be at normal levels. yes, she said it was a challenging quarter in the gaming business but they look forward to putting the channel inventory correction behind us she actually talked about data center 2 they did mention this issue they highlight whed th highlighted when they preannounced in late january that some customers around the world became cautious due to rising economic uncertainty, and so a number of deals didn't close in january but they noted they didn't expect that to continue, so take a

they have a plan to reignite interest in the business and morgan stanley saying it is a bit of a mixedthey are rising on the news. matt: are you wearing any pandora jewelry, annmarie? annmarie: i am not. full disclosure. [laughter] matt: we will see how that business pans out. plans toag announces grow to its former size. revenue has really contracted over the past decade. but i what cost? we are joined by the company's ceo. this is bloomberg. ♪ welcome back to "bloomberg markets," this is the european open. we are looking gains in terms of european equities. mid cashac and ftse prices up right now. ftse and dax trading up 0.5% or more. it a lot of movement over the past few minutes. software ag recently announced plans to boost staff in sales and r&d. the aim is to help grow the business back to its former size and hopefully beyond. until then, the new measures will reduce profitability. the new ceo of germany's second-largest software company expects one billion euros of sales in 2023 at the latest. that is sanjay brahmawar, who joins us now on set in london. welcome to the program.

matt: although yesterday we saw morgan stanley say earnings growth will only be 1%. kyle bass and paul krugman saying a recession is likely in the following year. does of people say the fed not have enough firepower to fight that. what do you think about that sentiment? mark: i do not think they need to fight it. we have to remember earnings are up, we saw a record last year. disappointing that we will see earnings flat, and there will be less expansion. but in the context that growth is not collapsing, earnings is not collapsing, why would the fed need to cut rates when you was growth will come in around 2.5%? earnings are flat and not booming, but because they were so high last year. it is based effects that makes it more look negative. i think overall the environment remains constructive for risk assets this year. because there is less of a one-way bet, a less brilliant growth story, volatility will remain. it will not go back to pre-2018, we will have painful corrections and pullbacks, but this should be a good year for risk assets even with volatility. it has to

bloomberg citigroup and morgan stanley are also pushing for the changes.hat is your bloomberg business flash. anna: thank you very much. let's stick with the business news. ryanair cannot rule out further europe'suidance as largest local airline sees a slump in shares amid ongoing brexit uncertainty. the ceo told bloomberg's shareholders may lose voting rights in the event of a no deal divorce. have to beairlines majority by eu nationals. we have a strategy which will enable us to retain that in the event of a hard brexit. what that will involve is that our non-eu shareholders, of which the u.k. will be part of, will not have voting rights at our agm's for a period of time and will be forced to sell down to eu nationals. anna: for more, we are joined by chris jasper from bloomberg's aviation team. when we talk about disruption from brexit, are we focused on the day-to-day ability to get and keep aircraft in the air? or are we talking about shareholder ownership regulations? >> it is not keeping planes in the air anymore. lately tos are survive even a no de

morgan stanley will be the latest to report after the bell along with aig and mgm. >> we're not too far off the highs. 0.6%, in percentage terms, about .4% for the other in dichlt ces utilities only the negative sector for the week as a whole. >> extending yesterday's very strong rally for stocks. let's begin this final hour of trade with kayla tausche, ylan mui. kayla, let's start with you on trade. >> reporter: underpinning a market rally with optimism on talks in china to produce some sort of trade deal the president speaking in the oval office with the president of colombia earlier said talks in beijing are going well. >> we have a big team of people, very talented people over in china right now, negotiating on the china deal it's going along very well we'll see what happens but i think it's going along very well they're showing us tremendous respect and something which a lot of countries didn't used to show the united states they're showing us respect now. >> it is on that negotiating team on which the hard work here falls. the president has asked his negotiators, led by u.s. trade

. >>> morgan stanley buying on capital. a company that prepares stock plans for start-ups. price tag nearly $1 billion. and the deal gives morgan increased exposure to potentiala gement. shares dropped more than 1.5% today to $40.21. >> drugmaker sanofi and regeneron slashing the price of the drug by 60%. thegi ol price tag of $14,000 a year will be cut down to just over $5800 a year. the outf pocket costs for medicare part-d patients will be between $25 and $150 per month. amgen made aacimilar move in october. sanofi down a fraction 42.43. ample mgem was off a kick at 185.79. >>> a rise in profit in the fourth quarter. the online et indication company says subscriber count grew by more than 30%. as a result, it's increasing revenue guidance for this year. that sent the stock higher in initial after-hours trading this evening. finished the regular session up 1% to>>34.80. used to be older americans would sell homes and downsize e kids moved out. today an increasing number are aoosing in place having an impact on home buyers of all ages. >> reporter: 64-year-old lewis is busy

shares rose 4% to >>> brazilian mining company as valedowngraded at morgan stanley. the analyst cites continued uncertainly following a recent dam accident. that also prompted the to remove his price target for the stock. the shares were down more than 1.5% to $11.17 on the session. >>> still ahead, twitter is turning into a big spender, and investors are not exactly retweetingi the p >>> amazingly sears has officially been saved from liquidation. a bankruptcy judge today approved a deal to sell the remainingssets of sears to its arairman and lst shareholder, edward lampert, who runs eslinvestments. it says that the $5.2 billion deal to buy the company will save 425 stores and about 45,000 jobs. > it was a rough day for twitter. despite reporting better-than-expected earnings and revenue. investors focused on the social media company's guidancehthich was lnd added that expenses will increase a lot. that sent the stock down about 10%. julia boorstin has more. >> twitter is increasing its spending, hiring more employees and investing tomprove the conversations on the p

sachs and jp morgan. 3.8 trillion from morgan stanley, the redline. on't have that much further to go. jp morgan at 3.2 trillion. will we get some indication from these minutes about where the endpoint as? michael: i don't think so. we are getting closer to the endpoint because they have formalized their monetary policy regime, to keep going the way they are going on the top of interest rate reserves -- if you do that, you need more excess reserves. they will have an elevated level, it's a question of how much. suggest recent surveys about $1 trillion in excess reserves. that about $2 trillion of excess reserves -- then you are to $3.5at $3 trillion trillion. the fed is reducing their maturities as they come off. that is a month by month thing. it will take a while for them to get to the level they are looking at. david: some people say it should be a larger balance sheet. you have to discount it for how large the economy is. sebastian: it's important for the fed to have a large balance sheet, better control of the interest-rate policy. we don't have a

scarlet: morgan stanley down for a fifth day.his is that the company buy a stock plan administration company at a 43% premium, which is why you see it in canada move up. caroline: let's check in on other key movers. first, tesla. a $450 price target. . more stable 2019 next up, nvidia. the price target was cut to $175 a share. rising in the wake of the company lowering fourth-quarter average. finally, electronic arts. it was upgraded to buy from neutral with a $110 price target. the potential of a newly released video game say it could be competitive to "fortnite." red.p 5%, now in the scarlet: "fortnite" raines once again. walmart has over 4000 stores, 1.5 million employees, and $380 billion in revenues, and that is just in the u.s. alone. but the retailer has a tiny problem, its ad business. here with more is matthew boyle. we had no idea it had an ad business. matthew: target has one. kroger has what. they need these businesses more than ever because their core retail businesses are struggling. they have amazon stealing sales.

according to a recent analyst note from morgan stanley, southwest's entrance into the hawaiian marketould have a drastic effect on air travel within the state and for flights to the continental us. southwest has gotten much of the needed approval for the flights and could begin selling flights in weeks. however, no start date has said when it will start st telling ticketsunpredictable schedules lead to unhappy employees.researchers at the university of california found those working to cover the extended hours of a retail or restaurant job are especially susceptible to dissatisfaction. the poll found that employees who knew their schedules more than two weeks in advance were 10 percent more likely to experience happiness than those who had only a few days' notice. live from the nasdaq marketsite, i'm jane k ( darya ) thanks jane ( james ) plus ... taking a look at futurecast. we're tracking the storm impacting the bay area. and here's a live look outside... bay bridge ♪ a lot happens in a day. outlast happens once. outlast all day lip color with 24 hour stay power. now in custom nudes