fundamentally, i like morgan stanley a lot. i like the set up, so i think this is a good opportunity. >> let me flip it with this, mike, fundamentally, do you like what the federal reserve did and what the federal reserve said? >> well, what the federal reserve said is pretty interesting, right we basically have been dealing with fed speak since allen green span and we have to interpret. what they were talking about is restraining themselves from taking their foot off the accelerator pedal. it's not just financials, but essentially they are encourage youg ing you to buy all risk assets i don't feel the fed or any central bank has much of a choice when they're talking about policy what they're suggesting is they have a lot of options and they're trying to choose the best course. i don't think they have much of a course, and we're all going to have to live with the consequences of that, but i'm not surprised by the language they're using to describe what they're up to. >> yeah, good stuff there. carter, your take on either the fe

support for a rally in financials if we take a look at the chart of morgan stanley, it's one of the strongest from a relative strength perspective easily outperforming the sector since the beginning of march if you couple that with the top 53 and the triangle formation we have, i think the stock is prime for the breakout above the $53 level. if you look at morgan stanley's business, they have built a well diversified business around their wealth management, and with the strong capital ratios they have, the only head wind they have is interest rates. by looking at the rate curve, the recent uptick in terms of inflation expectations we have seen and the fed policy this week, that has driven the long end of the curve substantially higher while the fed policy is keeping the short end of the curve near 0 when you have the steepening of the curve, that's going to reduce some of the head jinds when we see here for morgan stanley. the trade setup is a structure that number one is trying to capture this potential breakout above 53 and taking into account the fact that the applied volatility

78, 48, 98 rates are basically at zero f yif you will yes, there's been a steepening i think morgan stanleys just a better operator in the market. i'd compare it to goldman sachs. year to date morgan up 3.5%, goldman down $9.7. that's its direct comp it's the only bank that's up on the year all the other financials that are up are things like black rock, insurance companies or moody's. the technicals look great. it is a lot of tension importantly here, though, this is a stock that even if and as it breaks out and gets back to its january high which was at 57.50, its all-time high is still long ago there's much work to be done for financials in general. >> yeah. i mean, we didn't even mention the fact that wells fargo is down 54% in a year, maybe the most important stock out there the fed, of course, is a big piece of the puzzle but it's still just a piece of the puzzle by the way, we're also just 66 days, 6 hours, 22 minutes and 20 seconds away from the presidential election. the options market is pricing in the potential major volatility heading into november. but mike has a way to navigat

we are morgan stanley.

we are morgan stanley. into strategies for the road ahead. she used to have dry mouth.ow, she uses a capful of therabreath dry mouth oral rinse to keep her mouth moist for 24 hours. ♪ operatic singing - [narrator] therabreath, (glass break) it's a better mouthwash. at walmart, target, and other fine stores.

we've got matthew harrison with morgan stanley on. we'll ask him what he thinks about that in just a minute. i want to talk about transport stocks our rbi is about air travel. transports have been red hot they're hitting in your technical terms, the golden cross. are the transports telling you that more gains are ahead? >> they are not telling us that yet, but nonetheless, i own american airlines. i own boeing, so it's going to be really interesting to see these names are really born the brunt of covid-19. yes, as we're seeing the tsa numbers, i know you quoted them early. we're not quite at a million passengers per day seems like we're going to be there in a week or so. that's positivity. these names, talking about catching a falling knife after a while, but when you see the fed or the government come in to help these airlines, that puts a little bit of essentiality in these names. i think that's withbeen a prove story going all the way back to the financial crisis. >> we've got more coming up about air travel in our rbi. this russia

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morgan stanley is tapped to lead the offering shares could be trading by year end. a lot is still up in the air demapends on what the mark does. we spoke to ceo not too long ago. he said an ipo was still on the table. he said they have been managing to grow, get back to almost the levels they saw pre-covid in the u.s. and some other markets. they have become a lot leaner in terms of their cost structure. certainly of their cost structu, so certainly it will be an interesting option all odds are on the table. i'm not sure they are accepting a direct listing as some had previously thought, but it looks like airbnb ipo plans are on track for this year. >> i was going to ask you that question, thank you for addressing that. dee bosa for airbnb. >>> silver on pace for its worst day in march wondering if that rally is starting to lose some steam. brian stutland, you begin. we talked yesterday as to whether gold was topping out, maybe silver is topping out. what do you think? >> i think if you look at some of the technicals here, look, in mid-july we got word that some of

francine: andrew sheets from morgan stanley stays with us. we will talk about stimulus and jobs in the u.s. rates are part of the toolbox but they are no plans to use them yet. that is the view from the bank of england governor, andrew bailey. we will bring you our interview a bit later in the program. this is bloomberg. ♪ ♪ economics, finance, politics, this is "bloomberg surveillance." i'm francine lacqua here in london. let's get straight to the bloomberg business flash. >> for the time being, made more made more money delivering food than it did from transporting people. that failed to offset a steep decline in ridership. quarter sales fell 29%, ending a decade of growth for the company. t-mobile is officially number two in the u.s. mobile market. its merger with sprint has helped the company overtake at&t to reach over 98 million subscribers. it is expected to add up to 1.9 million customers per month this year -- customers this year. standard life aberdeen has lost its title as the uk's largest asset management firm. that is your bloomb

ellen zentner of morgan stanley at of this payrolls report.ine coming out of turkey from turkish president erdogan, saying turkey is firmly on its feet regarding fx reserves. you can see dollar-they were -- dollar-lira rolling over. my interpretation of what is happening at the moment in the fx market, it is what he is not saying. typically when the turkish president ways in, he lashes out , leans on the central bank not to hike interest rate. we are not hearing that kind of language from the turkish leader right now. tom: i looked at the charts, and very simply, it is a massive cover off of the weaker lira certitude of the last few days. but you are precisely right, this is about your politics and the mediterranean region. he mentions greece, and very little about what the market is screaming for with the shift from a major growth oriented odyssey back to the responsibility of interest rates appropriate for the fragility of the economy. they are not there yet. jonathan: i will say he has only been speaking about 15 minutes, so it might change

roach of morgan stanley.ou have to believe that steve roach had to do something with morgan stanley landing that relationship. we will have much more on this throughout the day. right now, holger schmieding patient with us. i want to go back to the idea of a two-part economy. what i observe in new york and what i observe across this nation is inequality due to the pandemic that we have never seen. i'm sure it is the same story in europe as well. what is the policy prescription to begin to get this inequality improved by helping the poor? how does america do that? how does europe do that? pretty well, it is a patchy effort, i would say, so far. many people actually receive more government support than they did earn when they had a job. but this is of course the one-off special factor that will likely lose force overtime. we see in europe that of course there is -- there are signs of further inequality. they are not as pronounced as they are in the u.s. because we have more established ways of running welfare s

morgan stanley is a stock that's really dominated relative to its peers, outperforming goldman sakes. it's kind of endured a two-year bear market. there's good support near 49.50. if you get any weakness into that, you want to be a buyer thirdly, let's go over to pharma and talk about pfizer. multi-year down trend. we think this is coming to an end here it's really coiled to rally. we have this nice bottom that's taken shape over the last year or year and a half i think we're talking about a 50 or $55 stock here. i recognize new highs for the index can be intimidating but these names have endured multi-year bear markets. we think they're all starting to improve and quietly exhibiting some leadership, so cat, morgan stanley and pfizer three good names here. >> pfizer is one of the hot names on the vaccine side, coming back but still well below where it was a couple of years ago. >> i don't think pfizer is in play for a vaccine necessarily you have some potential tailwind with that. it's too cheap and it's clearly lagged some of its bigger competitors, for example eli lilly. i like the

matthew hornbach of morgan stanley with us as we look at oddities of the market.ust heard from jonathan ferro in the late afternoon in tuscany and he said asked matthew hornbach about fits in the real yield. tell me what you learned about the real yield this week. matthew: thanks for having me on. apo not remember how many ap courses i took in high school but i definitely took a few. yields, theyeal have probably garnered more attention than they have in the last five years. i do think the attention was warranted, in part because we are heading into a time when the fed is set to unveil its new monetary policy strategy which should have an element focused on inflation. real yields to react to the prospect for inflation or the lack thereof. i think the market is right to focus on them. tom: this is a huge question. are you suggesting they should be of federal reserve over one year or five years that reverts back to analysis of nominal statistics and not inflation-adjusted statistics? matthew: i think it is a federal reserve that is interested in achieving its will m

that is concerning you have a morgan stanley a nalyst concerning you have a morgan stanley analyst inhe level of dissonance is disturbing, why is the stock market not reflecting some of the fragility and the real economy? the other strong quote, the mother of all melt ups. yes. we don't know how long it will last. but in terms of people making money, we don't like banks and investors making money, but we don't like them losing it either because we have a stock market crash in addition to everything else that we see at the moment, that has real implications for the real economy. so it is not necessarily a bad thing that the stock market is doing well, what is concerning is that disconnect and as noted in the article, two big events, to watch out for, when is mid—september, jackson hole, the meeting of central bankers where we will get a clear indication of how long those interest rates will last. and the second probably more interesting for many viewers will be a course the us presidential election in november, the uncertainty around that and particularly the uncertainty at the result

sarah: morgan stanley has actually been more optimistic for a time now.strategists over there are starting to change more to the pessimistic side. other strategists across wall street have been upping their price targets, kind of playing a catch-up trade. stocks in general, higher. people largely do seem more optimistic. you can look at the latest bank of america fund managers survey, for example. people said they believed this was actually the beginning of a bull market, not a bear market rally. more people are starting to believe in this rally. however, the contrarians would look at that and say, if more people are starting to, what's that mean for how much further it can run? in a while, we get a day like today where transports or cruises or value companies outperform tech. if we were to get like a true medical breakthrough or vaccine, good value stocks outperform tech for maybe two weeks?? taylor: the idea i hear over and over for managers and investors is that they believe investors should be moving at least a little of their portfolio if not a major

the head of morgan stanley's biotech industry research.nomenal in keeping up with the latest of the coronavirus and what we can anticipate. going in a new direction. talked about the vision for the company as the toronto-based firm looks stateside. experience the ultimate sports hub. where you can find games, news and highlights. all in one place, right on your tv. the xfinity sports zone. use your voice to search every stat and score. follow the teams you love. and, even get notifications with breaking news alerts and more. with the xfinity sports zone everybody wins. now that's simple, easy, awesome. say xfinity sports zone into your voice remote today. mark: i'm mark crumpton with bloomberg first word news. former trump national security adviser john bolton at high praise for one of his predecessors. he spoke with bloomberg about brent's go croft who died earlier this month. he served under the first president bush. >> he was really a dominant withe in policy, beginning saddam hussein's invasion of liberation of, kuwait, breakup of yugo

that's concern for morgan stanley. stock market is having a party but what about the economy? the disconnection, the fact that we continuously see it. one thingal this morning, pimco saying gold is cheap and has a lot more breadth to rally to theup side. manus: yeah. possibly. let's get to a conversation, you reminded me, the feds' response to the pandemic help stabilize the markets? low rates creating a bubble, that's the situation according to leon cooperman. he spoke to bloomberg about zero rates, and how that's impacting the u.s. economy. take a listen. leon: they have created a real speculative bubble in my opinion. i have to admit that i'm uncomfortable at the present time because -- not because of the virus, it's a factor, i'm uncomfortable because i'm focused on something the markets are focused on the amount of debt being created who pays for the party when the party is over? we celebrated our 244th birthday and basically it took us 244 years to go from zero national debt to $21 trillion. we'll probably end th

andrew sheets of morgan stanley. i had a payrolls friday, the president out with a headline, big job number coming up on friday. tom keene, hard to know how to read this when it is wednesday, and protocol suggests that they don't get the job number until thursday evening. tom: my people talk to your people, and we've got mike mckee coming up, and i am sure he can give us some perspective on the appropriateness and the history of that as well. adp today is a newer number. in three minutes, we get that statistic. tomorrow's number is the hyper number, and friday is basically a snapshot of two big surveys. jonathan: the median estimate, 1.2 million. coverage continues right here on bloomberg. coming up next, senator bill cassidy, republican from louisiana. good morning. this is bloomberg. ritika: with the first word news, i'm rick. -- i'm ritika gupta. an explosion at a warehouse in beirut was felt miles away. reports are at least 100 were killed and some 4000 injured. lebanon's government says on was 3000 tons of flamm

the analyst behind that call, morgan stanley's adam jonas joins us now good morning and thank you forying with us. you were on just last month defending your targets, so why do you turn? >> yeah, you have to stay flexible with tesla, right the message here is if you're going to buy tesla at the old target or the new target today, it has to be more than cars. more than cars times price and the pathways are on model supply and software service. it is clearly not enough to get to the price today, but we found $60 billion by working with our tech colleagues on the idea of tesla announcing technologies that put them in position to be a large, if not dominant third party battery supplier the battery is not mature. this is an arm's race for talent and amongst all of elon's benefits that he has right now, the one that is most valuable and on display right now is that the best people in the world want to work for elon. the best people in batteries, chemistry, software, rockets, they don't want to work for a 1970s little bit by bit evolutionary they want to take it up a knock and go one or two

all of these names by morgan stanley, and for the rest of the names on the list you can visit cnbc.comticking with the banks, jb morgan telling the cdc that it will now cycle between days at the office and days at home maybe personalmanently the move could have a lasting impact on the industry hugh is the ceo and he joins me now. hugh, tell me more of what they're introducing. >> senior executive of jp morgan called it a rotational model what does that mean? basically if you work as a trader or investment banker or anywhere within the corporate investment bank, you'll have perhaps two weeks of the month, perhaps one week of the month, perhaps two days a week working from home, even, you know, into the future, and i think this really refers to a post-covid future which there is going to be greater demand to be back in the office, but at the same time demand to have the flexibility that people really started to appreciate >> if people could pick their days, maybe they could help line up with their kids' school calendar, but tell me how different, for people who work in finance, this open

liz: exactly. >> morgan stanley is saying hey, guys, we are looking for a correction to buy. trying to predict a 10% correction is like predicting it will probably rain pretty soon. it will happen eventually. when it does, you hope you have an umbrella. but assuming that you want to say i don't want to get out for this 10% correction, i want to look for a sector but you really believe we are in a bull market, you probably want to pick a sector and pick the strongest names in the other sector because if you are going to sell some really good stocks, buy the best stocks in another sector. for example, consumer staples. don't buy the garbage if you think you are in a bull run. buy the best of the best. it's cheaper. names like jm smucker, campbell's soups. they have done well during the coronavirus. if this bull market continues, they should continue to run and should benefit as tech continues to fall. liz: yeah. you know, it makes absolute sense to take profits, tom, but again, if you're looking at names that really have staying power, sure it's big technology, but let's just s

we are morgan stanley. >>> ahead of a full takeover offer and new rules.he sale of tiktok operations could hit a new road block after they tighten regulations on technology exports >> let's get a check on how european markets are trading an hour and a half into the session. but the markets that are open are trading firmly this orning and also marks a decent closing to a month up 3.5% coming into today. some divergence in terms of the performance across the region. the german index is leading the way higher on the month up about 5.8% coming into today's session. let's get a check on u.s. futures and how we're posed to open on wall street. we are across the board here as well fairly muted in terms of the magnitude of the moves higher. the dow jones at 90 points higher the main event this week for u.s. markets will be the payrolls report due on friday hopes of divesting assets had them set back after they tighten export restrictions t. new law means the potential deal may require beijing's approval what does this mean for the potential sale of u.s. on rat ope

morgan stanley has appealed. british bank says it will hire as many as 3000 wealth planners in china within four years. hsbc makes more than half of its revenue and all of its profit in asia. that is your latest business flash. alix: thanks so much. here is one other thing. one of our favorite stories. one hedge fund manager is getting inspiration from an unlikely source, the robinhood crowd. adam sanders volatility hedge fund has climbed 30% this year in part because he is embedding against stocks popular on a retail trading app. robinhood. we also talked to the ceo there. they wind up trapping which stocks are moving on the robinhood platform as well. he is embracing the speculative fervor brought on by retail investors have far less experience and insight, and he can capitalize on it. he did that on tech. holdings, microsoft, nvidia, apple, those were all up in the first seven months. paypal rose the most. that doesn't it for me on bloomberg markets. power"up on "balance of the latest on stimulus negotiations.

ultra-orthodox population it's become one of the country's worst coronavirus hotspots marshall morgan stanley manages the city's coronavirus taskforce it's challenging work. most of morgan's turn this on his way to the main synagogue in the center of when the remark home to a largely ultra orthodox or how the community this in a go is closed because of the pandemic people have to pray outside. without marking stern who works as a lawyer managers in this free time a crooner task force. this is to. men the general public against the us are also dogs and against been a. formally people's thing to have a demon all sick and that they are infecting people that it's evil but it's not true i don't think there's any other community that keeps the rules as strictly as we do maybe a commitment of all with a view. over 2400 residents are currently infected with call that 19 and their new cases every day in a brac is one of the most densely populated cities in israel. yes boy. the autor hearing about hardman's for 20 family members shares 75 square meters and one bathroom one shower if one person gets sic

we are morgan stanley. into strategies for the road ahead. she used to have dry mouth., she uses a capful of therabreath dry mouth oral rinse to keep her mouth moist for 24 hours. ♪ operatic singing - [narrator] therabreath, (glass break) it's a better mouthwash. at walmart, target, and other fine stores. >>> we are back, breaking news of hurricane laura as it slams into the texas/louisiana coast. we got it up there for you, it is category 4 at the time. we are tracking the storm with our experts. it will pack devastating winds and i quote here unsurvivable storm surge. let's discuss now. on the phone with me, captain garret black, he's flying over the hurricane for us right now. where he so happy to have him with us. captain black, can you hear me? >> yes, sir, i sure can. >> you are flying right over, tell us what you are seeing? >> we are flying at 3,000 feet above the water. it is actually turning and going back to the center. >> it is a little tough to hear or understand. maybe it is my small piece here. i hope folks at home have a better time to hear it. the wind

morgan stanley looks for a weaker dollar. will not be having his game day mountain man breakfast at the acclaimed pioneer grail. in this jackson hole, it is a virtual jackson hole. wins the mosta, grievous sins 1851. and a you will not be safe in joe biden's america, so says vice president pence. and a football coach in notre dame says mr. biden is "catholic in name only." good morning, everyone. this is "bloomberg surveillance." i am tom keene. anna edwards is in for francine lacqua. we appreciate your long day here in "bloomberg surveillance." stimus

we are morgan stanley. we've been home.the brave men and women who build and serve our communities; who teach our children; and who care for us in our time of need in honor of our 50th anniversary, we're committing over $30 million dollars to new student scholarship funds. because we believe in the pursuit of purpose, in the causes you champion, and in the difference you make in the world. welcome to national university. apply for your scholarship today at nu.edu welcome to want restand schools?pen? want the economy to get back on track? you're not alone. and you can help make it happen. stay 6 feet apart. wash your hands. wear a mask every time you leave your home. choose to join the fight against covid-19. do your part. slow the spread. >>> this week joe biden and the democratic party made their pitch to the american voter, focusing on themes like empathy, unity, the country, racial the republican national convention try to counter of democrat's messaging next week? mark mckinnon is here, former adviser to george w. bush,

morgan stanley looks for a weaker dollar. michael mckee will not be having his game day mountain man breakfast at the acclaimed pioneer grail. in this jackson hole, it is a virtual jackson hole. wins the mosta, grievous sins 1851. and a you will not be safe in joe biden's america, so says vice president pence. and a football coach in notre dame says mr. biden is "catholic in name only." good morning, everyone. this is "bloomberg surveillance." i am tom keene. anna edwards is in for francine lacqua. we appreciate your long day here in "bloomberg surveillance." stimulus in germany, what gets your attention this morning? anna: stimulus in germany is it. of we have been watching what has been going on on the louisiana coast for the latest headlines on hurricane laura, that has preoccupied people. here in europe, also waiting on the latest developments from jackson hole. just as we see laura weakening to a category three hurricane, although we know they can still linger it still do damage. tom: 120 miles per hour maximum wind, but

we are morgan stanley. >>> all right.ighters in california struggling to contain more than 600 wildfires stretching across the state including 1 of the largest in state history. at least four people are dead and more than a million acres burned. with more than 13,000 firefighters working around the clock, officials are worried are there's no end in sight. the forecast shows another round of thunderstorms and lightning for the state which could spark more spires. paul vercammen is in calistoga, california. how are the conditions there? >> reporter: they have improved a little bit but as you pointed out they're worried about the lightning strikes and there's a massive red flag warning in much of northern california and central california. i'm at the command post here. nervous residents here talking with firefighters trying to understand what roads are open, what the next moves might be. the townspeople appreciative for the work that the firefighters are doing but they did say on this fire the lnu complex they have lost 845

adam jonas, morgan stanley global head of auto.n the renewable theme, rwe and germany is a utility company that does a lot of renewables. they are issuing a lot of share, 10% coming in about 61.5 million euros, the price at 32.55 coming to the market. this is bloomberg. ♪ alix: let's get you caught up on some of the big business stories. here is your business flash. formula working well for american homebuilders. strong housing demand fueled by record low mortgage rates. housing starts rising last month by the most since 2015 and applications to build increased by the most in three decades. walmart bracing for the second half of the year where shoppers may not have any coronavirus relief. the world's largest retailer posting stronger-than-expected quarterly revenue, but warning the shoppers had spent the first round of stimulus checks by july. comp sales growth in that month was 4% lower than in may and june. that is the latest business flash. all of that coming to roost when it comes to the weaker dollar. maybe stimulus might be c

that's one of the calls today from mike wilson overmat morgan stanley. they are coming out of the wood work saying fina ining financiae place you want to be >> i've been out of the cyclicals or the banks and the money center banks for one specific reason. i've continued to reduce my position i don't agree on this call at all. they have not marked to market all the realize they own and the regional banks they own the strip malls going to zero. we don't know what the cap rates are going to be on aaa office towers in new york and boston. also bank assets not yet. you haven't missed a thing staying out of those every week we get another call now by the banks it's where money goes to die it's utter misery with interest rates staying at zero. that's not place to put capital. i suffer with it scott i suffer with it you have to admit that you can't get 80 people in an elevator anymore any time soon. maybe in a couple of years 15% of the the staff in my operating companies, sometimes 20, do not want to go back to work they want me to pay for higher speed internet

we are morgan stanley. you say that customerss make thelet's talk data..nly xfinity mobile lets you switch up your wireless data whenever. i accept! 5g, everybody's talking about it. how do i get it? everyone gets 5g with our new data options at no extra cost. that's good. next item: corner offices for everyone. just have to make more corners in this building. chad. your wireless. your rules. only with xfinity mobile. now that's simple, easy, awesome. switch and save up to $400 a year on your wireless bill. plus, get $400 off when you buy the new samsung galaxy note20 ultra 5g. >>> would you be prepared to shut the country down again? >> i would be prepared to do whatever it does to save lives. we cannot get the country moving until we control the virus. that's the fundamental flaw of this administration's thinking to begin with. in order to keep the country running and moving and the economy growing and people employed, you have to fix the virus. you have to deal with the virus. >> so if the scientists say shut it down? >> i would say shut it down. i woul

we are morgan stanley. >>> so, postmaster general louis dejoy facing tough questions from senators todaywas on the hot seat over concerns changes he made will hurt the postal service ability to handle a surge in mail this november. >> in less than two months as postmaster general, you have undermined one of our nation's most trusted institutions, and wreaked havoc on families, veterans, seniors, rural communities and people all across the country. will you be bringing back any mail sorting machines that have been removed? >> there's no intention to do that. they're not needed, sir. >> i think that's what a lot of people wanted to know about those sorting machines. and a lot of other things. so, let's talk to senator gary peters now. he's the top democrat on the panel. first call for the hearing on the posting service. senator, appreciate you joining us. thanks so much. >> great to be with you. thank you. >> you have been pressing this postmaster dejoy for answers for weeks now. he is insisting these ballots will be delivered, he's saying on time. are you satisfied with what you heard tod

we are morgan stanley. into strategies for the road ahead. he used to have gum problems.nse with clinically-proven ingredients and his gum problems have vanished. (crowd applauding) therabreath, it's a better mouthwash. at walmart, target and other fine stores. >>> the president has approved more aid for iowa following a massive storm there. the funds are still just a fraction of what many iowans say they need. and they say the decision on those funds could directly impact their vote. here's ryan young with more. >> unfortunately, the ear is on the part of the stalk that's dead. >> reporter: a massive wind storm's destruction still seen all over steve's corn field. nearly two weeks after it swept across iowa with 100-mile-an-hour winds. >> wow! >> just kept going, and you know, 45 minutes into it, it's still blowing, and we're seeing the trees and the wind and the power is off. >> reporter: in cedar rapids, one of the hardest hit cities, more than 800 buildings suffered partial collapse. more than 20 school buildings damaged. >> it was like the whole storm that was 70 mil

he likes deere, morgan stanley and eun pacific here, stephen su suttmeier with bofa securities >>> she'sthis is decision tech. find a stock based on your interests or what's trending. get real-time insights in your customized view of the market. it's smarter trading technology for smarter trading decisions. fidelity. what happens when switch to xfinity mobile? well, the good news gets shared. and it gets rated #1 for customer satisfaction. but don't just take our word for it. take theirs. it's your wireless. your rules. only with xfinity mobile. call, click or visit a store today. for skin as alive as you are... don't settle for silver ♪ gold bond champion your skin and then found the home of my dreams. but my home of my dreams needed some work sofi was the first lender that even offered a personal loan. i didn't even know that was an option. the personal loan let us renovate our single family house into a multi-unit home. and i get to live in this beautiful house with this beautiful kitchen and it's all thanks to sofi. woi felt completely helpless.hed online. and i get to live in this b

we are morgan stanley. and they're actually pulling out the minerals from the enamel.e to recommend pronamel to my patients. pronamel will help push the minerals back into the enamel, to keep the enamel strong. i know it works. and i hear nothing but great things from my patients that have switched to it. i know it works. and i hear nothing but great things simon pagenaud takes the lead at the indy 500! coming to the green flag, racing at daytona. they're off... in the kentucky derby. rory mcllroy is a two time champion at east lake. he scores! stanley cup champions! touchdown! only mahomes. the big events are back and xfinity is your home for the return of live sports. >>> right now evacuations are going on in southeast louisiana in preparation for not one, but two tropical storms to make back-to-back landfall along the gulf coast. >> we'll talk about the first one, tropical storm marco, gotten stronger over the last few hours. let's go to allison chinchar in the cnn weather center. tell us about these storms. >> let's talk about the most recent update. we got new war

and the absence of trading revenue that you will find in some of the other financials like a morgan stanley or goldman sachs, even jpmorgan which reported a strong quarter. no, i wouldn't suggest if you're going to be picking one of the money center banks, or if you're buying bank of america right here, you might as well go buy wells fargo. you'll probably have more upside return if there is an environment where the banks all boats seem to rise so i think you have to stay best in breed, which takes me to jpmorgan if we're goods to the thesis a all banks are going to rise, you go wells fargo. >> steve weiss, what do you say? i don't think steve can hear me. brevina, you know, if you look at the financials, joe painted a picture of why they haven't worked it's no mystery, but is -- i think it depends on the time -- >> warren buffett is known for being very patient if that's how you're feeling, it might not be a bad time to start nibbling i don't think we're goinging to traction in this group until we start to see more of an economic recovery scenario playing out that involves interest rates m

morgan stanley highlighting astrazeneca, moderna and pfizer, the firm saying while unlikely the final the vaccine may even be released before the general election. barclays also positive on moderna, out with a note saying its vaccine as, quote, so a lot of the results of correlated there's hope that if it turns out to be effective, we are going to need that kind of supply goldman sachs now interesting. it's kind of a binary factor, but there would be significant up side. >>> strong, by the way at the moment set for another record close still ahead we're just minutes away from uber's results >>> plus we'll tell you how facebook is keeping it reels we're back in a couple minutes what happens when a wireless carrier puts its customers in charge? well, the good news gets shared. and it gets rated #1 for customer satisfaction. but don't just take our word for it. take theirs. it's your wireless. your rules. only with xfinity mobile. call, click or visit a store today. you should be mad they gave this guy a promotion. you should be mad at forced camaraderie. and you should be mad at tech th

we are morgan stanley. ♪ if i could, baby i'd ♪ how can i, when you won't take it from me ♪ ♪ you canwn way ♪ ♪ go your own way your wireless. your rules. only with xfinity mobile. . >>> welcome back as people adjust to covid-19, consumers are seeing very specific products go out of stock. this week we're taking a closer look at what happens when econ 101 collides with a pandemic logitech saw a 116% surge in web cam sales last quarter and it doesn't see demand slowing down soon the shares are up 4% today 94% in the past six months it's good to have you. welcome. >> great to be here. thanks >> i asisume you're using one of your products now? >> multiple. web cam, mouse, keyboard >> that's true you guys make the whole suite. what is there no way people will get their hand ons fs on for que some time. >> i would have said there's no way you would get your hands on a lot of things. we're stimcoll coming back in stock. we're getting there. we're a little tight this quarter. we're still very tight on blue microphones. these are super -- i have one. >> show us absolutely >> this is it. they'

we are morgan stanley. >>> we're following breaking news.federal appeals court has just denied an emergency request from president trump to prevent a subpoena of his financial records. let's bring in our chief legal analyst jeffrey toobin. he's the author of the best-selling brand-new book entitled "true crimes and misdemeanors: the investigation of donald trump." jeffrey, help break down what this means. does this mean that these tax returns from the president's tax returns could actually be handed over to the manhattan district attorney next week? >> the important thing to remember about these tax returns is the supreme court decided this case last and trump lost 7-2. what's going on now is sort of this last spasm of activity where trump's lawyers are trying to forestall the inevitable. it is possible these tax returns will be turned over on august 28th. it is possible that there may be a few days later because there's now an appeals court hearing on september 1st. but the important point is that trump has lost this case, and these documen

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two tesla bears coming out of hibernation you could say, bank of america and morgan stanley shiftingition on elon musk empire from the equivalent of a cell to neutral, the big moves coming as electric vehicle maker awaits his potential entry into the s&p 500, bofa siding the growth ability and access to cheap capital, morgan stanley predicting the giant could be a valuable third-party battery supplier to the automaker tesla shares up a ridiculous 650% from just one year ago, as you can see even with elon musk doing, the stock up 1636. let's go to edward lawrence for today's fox business brief, edward. >> autozone going on a hiring spree, the auto retailer or parts retail hiring 20000 employees to address the increasing demand at local retail locations the distribution centers, luxury ev retailer far-fetched reporting a smaller than expected loss in the quarterly fiscal result the online fashion retailer with estimates, and due to the coronavirus pandemic it could add a material impact on future results, quicken loans, the parent reported a 40% quarter over quarter jump in loan origin

we are morgan stanley. >>> major new developments tonight in the case of a high-profile russian dissident kremlin critic who is in a coma right now following a suspected poisoning. our senior international correspondent matthew chance is joining us from moscow. maccew, the russian doctors treating alexei navalny are now saying he was not poisoned, but his family doesn't trust the hospital's assessment. update our viewers on what you're learning. what's the latest? >> reporter: yeah, well, alexei navalny is still in a hospital in siberia in the city of omsk. he is still unconscious and on a ventilator. the doctors have been back and forth with the family of alexei all day saying we have not found any evidence of poisoning for alexei navalny. remember that this is the main opposition figure in this country. he was taken suddenly very ill on a flight back to moscow, dramatic images emerge taken by a fellow passenger of him yelling with agony as he was stretchered off the airplane. they had to make an emergency landing to get him emergency medical treatment. what the family of alexei navalny

we are morgan stanley. >>> we are back with white house senior adviser, jared kushner. me ask you before we get to the campaign, jared, would you predict by november saudi arabia and bahrain will also have normalized relations with israel? >> so, i don't want to make any predictions. i think right now i'm going to be traveling to the region. we want to make sure we cement this agreement in place. we want to make sure this is a very warm peace. there's tons of doctors who want to start working together on coronavirus together. we have a lot of trade and tourism that want to happen. we want to get this embedded as quickly as possible. i will say a lot of people around the region are looking at the tremendous economic opportunities that will now exist for the uae as a hub for israeli business to the rest of the arab world, and they want to make this happen, too. so, i do think there will be a lot of countries that will want to follow behind, but obviously this is the first one in 26 years. the rest will come at their pace. but i wouldn't be surprised if others go soon. >>

we are morgan stanley.

we are morgan stanley.all know it's part of politics that politicians say things to get your vote. okay? but there has to be a line. and you can't allow any politician, not even the president, to say absolutely anything to invigorate the base. because a lot of it is pushing ideas that are dangerous for us. like what? you can't gloss over the inadequate response to the pandemic. we've lost 177,000 americans. i know that number's starting to wash over you. but imagine if one of them were in your family. and why, else, is it dangerous? because he's not changing his disposition. sure, he doesn't say the don't wear the mask stuff, anymore. but we, still, don't have the rapid testing that is the key to you and me getting our kids back in school, for real. not this hybrid bs. so, let's bring in ron brownstein, alice stewart, and bakari sellers. i will not -- author of "my vanishing country" by the way. want to get it up there. very nice. bakari, good to see you. alice. professor. that's what i call ron. good to se

that stock upgrade getting an upgrade from morgan stanley this morning. we're coming right back.are all the cab rides to my physical therapy. and aflac paid me directly to help. aflac. what he said. and this unexpected bill is from... the two-thousand-dollar specialist. thanks. aflac. when you're sick or injured, aflac is there. we can help with expenses health insurance doesn't cover. get to know us at (aflac!) dot com. it's the simple joy of gewashing your hands,. without ever touching a faucet. it's the little things that matter. that's why we create moments to feel kohler clean, every day. ♪ we know that traditions matter more if they're celebrated with the ones you love. that's why we're proud to partner with the kentucky derby. ♪ >>> get to cnbc headquarters and jim cramer joins us now. has the high price started on the street which is like a percentage point above where the stock is right now, jim. so, when the highest price target on the street is basically where the stock is, is that, obviously, the analysts are either going to need to raise their price targets above whe