morgan stanley is a more diversified business.e end of the day, in down markets, morgan stanley had higher returns this year where the investment banking business was find out if you're sitting on a gold mine. call coventry direct today at 803 83 9200 or visit coventry direct.com on $100,000 margin. loan interactive brokers charges just 6.83%. do you know how much your broker charges? fidelity and schwab charge over one and a half times as much. e-trade and td ameritrade are even higher. move your account to interactive brokers and save at least $5,200 or much more. if you're trading big bucks. avalara. we can calculate sales tax automatically. avalara. what if tax rates changed? filing sales tax returns, business license guidance, cross-border sales item classification? does it with. this is bloomberg markets and i'm sonali basak with john ehrlichman real estate private equity firm rockpoint has just closed its latest opportunity fund at $2.6 billion, bringing total capital commitments to roughly $5 billion in this latest cycle.

morgan stanley.king.com ♪ somewhere, anywhere... ♪ ♪ i just want to lie motionless in a chair! ♪ booking.com, booking.yeah ♪ ♪ katie: welcome --sonali: welcome. i am standing by with an exclusive interview with james gorman, executive chairman of morgan stanley, recently stepped down as ceo. your new role as executive chairman. what is your most urgent priority? james: this interview with you. [laughter] it is to support ted. he is terrific, will be a great ceo. my job is to help him as best i can but stay out of it. that is my priority. sonali: you used to handwrite a checklist of priorities at the start of every year. if you think about how you change gears into executive chairman, what does that list look like? james: i did not write it this year. i did that when i was ceo. it gave me a framework for focusing on the big things that matter. there are thousands of issues that come at you. you can easily lose sight of the stuff that matters. every year, i would tea up on the first day i came into off

morgan stanley up 1.6%.is is the final quarter of james tanner and their passing the reins over. lisa: we are hearing from david solomon calling 20 for the year of execution. what is the year of execution? sonali: you have to remember last year there were a lot of quarters where they had returns that were muted, below expectations, and sometimes the worst they have seen in years. what you are seeing now is them turning around the story, not only beating on key metrics. they are the only bank that brought in one more than $1 million in a bad year for deals. last year. they are bringing in still more than a billion in fees and buys meant. they are having their acid wealth manager beat expectations. last year they took a lot of churches tied assets tied to charges of the consumer unit they were offloading or when it came to their historical principal investments. these are balance sheets heavy investments they are trying to reduce reliance on. in their most recent quarter they announced they have beat their fun

we have morgan stanley and j.p.organ both saying you want to buy the five-year note in particular. we have morgan stanley, this is bad news is good news, saying some of the upcoming data could be disappointing. that could support the idea the fed will cut as expected. right now, five cuts are priced in. you have j.p. morgan saying the level, they say the markets are aggressive on timing. they talk about the fact we have options starting tomorrow and there is the gdp number on friday. if we look at it in context with a number of cuts expected, and these were some of the points we were talking about including the options and treasury debt, if we look at the five-year note relative to the number of cuts expected, not surprisingly in blue is the five-year note peaking at 5% last year. as we went from two cuts priced in up to six, look at that, greater than six down to five, that has the five-year note higher. it will be interesting to see whether matthew and morgan stanley -- at morgan stanley, this will prove to be the

there is morgan stanley down 4%. >> the stocks were up anywhere from at that 25% to 40%. they had to be perfect quarters, beat expectations not just meet expectations a lot of them just met expectations including jpmorgan. okay, fine, maybe they had better net income. it by no means was a blowaway quarter. i'm looking at morgan stanley, i can't believe was down when they had far better than peer industry numbers in terms of m&a, fees, even fic but better than wealth mappingment fees up as well. to me the problem with morgan stanley is their expenses were up the new ceo has to prove himself. >> didn't you trim it, though? >> i trimmed it to buy something that we'll talk about later. >> wealth management was up or flat >> wealth management fees beat 41 bips up and expectations were up for '24 they did beat the number >> they beat it but it was flat, right? >> a beat is a beat. people expected it to be down. >> i disagree. >> well, fine -- >> wealth management is 50% of the business and not growing >> no one is growing in wealth management, josh last year was horrific for we

so i like jpmorgan, i like morgan stanley even better at these prices. >> you have morgan stanley asnervous, to be honest, it's up 24% from the lows. >> uh-oh. i know what happened the last time you got nervous heading into earnings. do you remember that one? >> and i was right. >> that was nike. >> this is the reason i'm nervous, nothing to do with the fundamentals. there are puts and takes. the stock is up 24%, rerated to 17 times. my suspicion is that's why you traded yours. i didn't want to get too cute and trim around. i like it for all the reasons you said, sarat. what ted pick needs to do is reiterate 20% rotce for the medium term. pretax wealth margins and a trillion dollars in asset growth every three years. those are the three metrics that everybody that has an interest in the name needs to hear and we have to hear how they're going to do it. >> mike santoli is next with his "midday word." we have to trade a couple of the day's biggest winners and biggest losers and wwi de llo that as well. we're back in two. i was only 23 when i was first diagnosed with non-melanoma skin c

clearly, that is very important to morgan stanley but that will be at any bank on wall street. if you think about the big six, when you hear of -- about city going through the restructuring -- citi going through the restructuring, it's going to matter for those that either decide to stay, coming in, or have left. a lot of people might choose to leave because they don't want to go through that restructuring. you think about jp morgan. jamie dimon developed a culture and that one is a little more straightforward at this point. they are moving ahead, really building, and their dominance is continuing to spiral so i think that was morgan stanley, this is a chance for them to continue the culture. starting from a pretty stable level. it is just a matter of can he continue that momentum? can he continue these the ability -- the stability? jon:jon: what about on the capital issues specifically? you had the executives that made their way to washington not that long ago and clearly in the conversation, james gorman highlighting some of those failed banks and essentially saying one offs.

goldman sachs and morgan stanley don't have that. so i think a lot of investors are going to be questioning where will their earnings growth come from this year? guy: there have been some layoffs but not an enormous amount. if we continue with these kinds of numbers, does that become a more difficult argue mght to sustain? -- argument to sustain? >> i think so. on friday we heard from citigroup saying that they are going to be cutting 20,000 jobs over the next two years. so i think we're going to start hearing some of those bigger numbers finally come out. but again, two years is a big time horizon for those kinds of cuts. they might have time to change their minds if things really get better. so we'll see. i don't know that we're going to be hearing anything that drastic from these banks tomorrow but certainly if things kind of continue the way they have, that becomes a more real reality. guy: what's happening on the asset management front, particularly for morgan stanley? >> that's a good question. that's an area that was weak in t

earnings from goldman sachs and morgan stanley due out today. jennifer ceraintly, local wall street expert, joins me now this morning. what do we need to know here? >> some of the big takeaways from last week were really that 2023 was the last really bumper year for net interest income. you had a lot of banks revising things down, talking about the fed, if they are on pause or start to cut rates, that is not good for interest income. we will probably hear more of that. the banks tomorrow, like you said, are much more focused on trading and investment banking. we're going to hear more of the same in terms of we didn't see that revival in investment banking these ceos had been calling for. trading was softer in the fourth quarter. the pressure will be on the ceos to answer for that. if that doesn't materialize, where does the earnings power come from this year? kriti: jenny will be back to dive into more of the nitty-gritty later in the hour. coming up on the show, we got from the united states to the continent of africa. nigeria's inflation hitti

morgan stanley was at 70, went to 92. sell, sell, sell wells had a good quarter it doesn't matter, david this group was set to sell and they're selling it. >> i feel like it seems so rare that the group actually really does perform well after earnings >> i couldn't find the time. that's a very good call. >> a great consistency >> if they ran, you're so right. that's your feel but 'em peericly it's absolutely true it's a really bad group to own. >> they don't seem to underperform to your point had numbers well above what most of the analysts had been expecting there are fdic charges that some have included in their estimates. overall we can tell you goldman better-than-expected. >> i was going over goldman with goldman people i know, i said, wow, great quarter, sorry about what going to happen they said, what's going to happen i said, well, your stocks go down that's what banks do when they go up into the quarter david is right thes these. >> record aem, up 2 trillion a piece in "the consumer" how they're doubling down on

morgan stanley is certainly not up.t looks like there has been a few misses and the market looks disappointed. sonali: there is reason to be. morgan stanley just told investors net interest income will probably be that for the quarter and have to look at the regionals, super regionals. pnc expected to be down on the year, and the question is, rates were as high as they have been for a long time. in interest income could come easy to everyone by j.p. morgan. how did the rest start to fair? guy: going to get a new environment? interesting what having a day off does to the psyche. the dollar well bid across and i am thinking maybe this is a market looking to reprice the fed. while there will be speaking at 11:00 a.m. eastern. fascinated to hear what he says. are we going to get pushback from the idea that we will get six cuts this year? feels like the market starting to reprice that. sonali: blackrock coming up with a note saying they are expecting a rise in equities this year but they are still worried about a re-accelera

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cheryl: two of your picks are morgan stanley and jp pour began. we have morgan stanley tomorrow.characterization and a very different story from bank to bank. i've never seen i don't think any quarter where each bank had so many separate issues and it's anybody's ballgame tomorrow for these earnings. >> yeah. i think you're right. we're seeing a lot of that divergence, disparity between banks. it's been such a challenging environment. jp morgan has done so well in general because they had have a large franchise, a huge balance sheet. not only can they do well on the commercial side of things, they can do well on the investment banking side of things. morgan stanley, they're more geared toward investment banking and wealth management. for morgan stanley it may not be as much about how well they did last year but the forecast for this year. if we have a case where people are less worried about recession, you get more capital markets activity, you see more investment banking done, ipos and secondaries, that could be good for a bank like morgan stanley which not only has the wealth m

e*trade from morgan stanley >> we are now closing bell market zone.of this trading day, and walgreens slashing its dividends. the details for us there. and julie on why jpmorgan is bullish on netflix this year. mike, you first. whatever is going on the market, it is still unsettled. trying to figure out what he wants to do as we go through this year. >> the last time we had a multiweek rip through november, we knew we were over, we knew we had a take a pause. it was the most pristine and painless sideways move we had. early december, thereabouts. it is maybe a little too much to ask you get two of those in a row, where basically you barely notice on the chart in retrospect. we are not even 2% off the highs, the way i'm thinking about it is we have undone post fed meeting leg of the rally. we have started to take some of you sentimental positioning stuff off, you look at the weekly national investment manager talley, cutback equity exposure. starting to see call ratios. people are bracing for something, it is unclear if it is a specific thing or just t

goldman sachs and morgan stanley will report in under two hours today.vestment of banking division with goldman posting losses. investors will listen to comments for the leadership. david solomon has been under pressure due to the series of strategic missteps and morgan t stanley will discuss as well let's talk about this with nancy. good morning great to have you here >> thank you, frank. >> nancy, as we see the second week of bank earnings, what are you looking for and what did you make of what we saw last week? >> particularly with the big banks, goldman sachs and morgan stanley, we are looking at the deals gore forward one of the things we heard from jpmorgan chase was some optimism on deal flow picking up. we know that deal flow was bad last year. we know the numbers were down in the 20% range. we are seeing an improvement on the m& a front particularly in healthcare we think it is likely to hear optimism about that and optimism on the ipo front going forward that would be good for the stocks as that is an excellent business for them. in addition fr

at morgan stanley, old school hard work meets bold new thinking.ee untapped possibilities and relentlessly work with you to make them real. >> announcer: the opening bell is brought to you by nuveen, a leader in income, alternatives, and responsible invest >>> let's do it. time for a "mad dash" as we get ready for an opening bell two and a half minutes from now on what we like to call hump day. >> there are three standouts today. there's s.a.p. they fired 8,000 people. there's obviously netflix, and then there's asml. now, they make semiconductor capital equipment. typical machines are as big as a city bus you need them to make really complex machines the united states has not favored this dutch company being able to sell to china, but there's an export control that the chinese beat they ordered a huge amount this is really important, david. asml is the hot level, so the read-through is to nvidia. taiwan semi is using it and the reason i bring it up is because texas instruments reported a weaker number. that's lower end, that would not be this kind

morgan stanley also blew away estimates but it's outlook disappointed. su keenan joins us now with more. we saw the reaction in the respective stocks and goldman actually gaining ground. su: goldman blew away expectations, particularly from its equity trading desk where revenue was triple what was expected. also helping drive gains, posting the highest quarterly revenue in two years on the sale of financial management business. between goldman and morgan stanley, a tale of two different stock performers, which we will get to them just a minute. in any event, it counted a few weak spots, extend come trading results and investment banking fees fell short of expectations. the ceo said this was a year of expectation, or execution i should say, for goldman sachs. with everything achieved in 22 and three, he says coupled with their clear and simplified strategy, they have a much stronger platform for 2024. calling the results decent and relatively solid, saying goldman results were not as bad as feared. a lot of the analysts are aware of the difficulty the ban

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also, we're watching morgan stanley, if we can pop that up quick as well.ell. but they did have a slight beat on revenue 12.9 billion, the street looking for 12.75 billion and that stock is -- 85-cents on the earnings per share which is a miss. we were looking for earnings per share to be down year of year with morgan stanley and it was. goldman the big one. again, then watching morgan stanley, they've done better in the consumer lending business than goldman has. goldman did real strong, real strong on the equities trading desks. maria: yeah. both stocks higher right now. cheryl, thank you. quick break and then the global economy and artificial intelligence, how a.i. is impacting the global job market. i'll talk with the imf managing director next live here at the world economic forum in davos. stay with us. you got this. let's go. gobble gobble. i've seen bigger legs on a turkey! rude. who are you? i'm an investor in a fund that helps advance innovative sports tech like this smart fitness mirror. i'm also mr. leg day...1989! anyone can become an agent of

morgan stanley. >>> trimming is such sweet sorrow. portions of the magnificent six. i say six because we don't keep tesla. they will be strong long-term performers but they have had huge runs and i feel like a pig if i did not take something off the table. it is not hard to sell some of these stocks on a fundamental basis. barclays downgraded apple to sell saying that there are lower estimates following another round of checks. we are still picking up iphone volumes. that as well as a lack of bounce back in the mac, ipads and wearables. i personally have great faith in them. it is just that there is a slowing and that robust high-margin category. all in all it is a disappointing piece for those of us that are apple aficionados. i can easily dismiss that by saying, we have heard that all before. what about the vision pro? couldn't that be a force? as somebody who has worn it i could say that one day. i could get another piece just as you today saying that the stock is a hold as they wait for apple to get unstuck on the innovation front

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morgan stanley. >>> time for the final trade. tim seymour?its company, some of the pressures there. i think diaggi oo has some pricg power. i like the stock here. >> marriott international. people have jobs, and it's a very interesting chart. >> julie beale? >> we have high yields and high grade, this is a leader. >> dan nathan? >> you know, mel, we love "fast money." >> yes, of course, we do, but that was always be our baby. it was kind of fun, fell receipto. i think nvidia sets up as an interesting trade. >> thank you for watching "fast money," the first trading week of >>> my mission is simple. to make you money. i am here to level the playing field for all investors. there is always a bull market somewhere and i promise to help you find it. mad money starts now. >>> hey, i'm cramer. welcome to mad money. i'm just trying to make you some money. not just to entertain but to educate. sometimes we get a number and everybody just shrugs. it seems to

e*trade from morgan stanley. with powerful, easy-to-use tools, power e*trade makes complex trading easier. react to fast-moving markets with dynamic charting and a futures ladder that lets you place, flatten, or reverse orders so you won't miss an opportunity. e*trade from morgan stanley. >>> welcome back to "worldwide exchange." let's get a check of the top corporate stories with pippa >> frank, jpmorgan chase is resu reshuffling the management treatment for the time that jamie dimon is not longer in charge the current co-head of the consumer bank will be co-head of the commercial and investment bank along with a veteran leader of the trading operations. mary ann lake will transition to sole ceo there are a handful of exe executives with the shot of succeeding dimon as ceo. >>> and salesforce is laying off 700 employees. the cuts will comprise 1% of the 70,000 personal work force and would be the latest to hit the tech sector. if confirmed, it follows the cuts from a year ago when it let go 8,000 employees or 10

e*trade from morgan stanley >>> we are now at the closing market zone. we are looking at the crucial moments of this trading day. we have the latest activist action around disney. we have more behind what is behind that selloff. we have another 300 point loser. they are down 2.5%. they are getting ugly too. >> the market is pretty routine. they don't have volatility blowout. it seems a little bit like collective portfolio. we are trying to look at a straight line from here. i think that is the precipice that we might be on. it is a little bit deeper of a gut check for now. treasury market, also treating them within minutes. probably not for any specific reason, except the absence of any incremental action to expand on. >> we looked at the market selling off. maybe they have gone up a little bit. >> there was a comment about thinking about slowing the pace down for the boundary protection. they want to make sure there is going to be enough for reserves to manage all of that. maybe the market is latching onto that. the bigger picture, i think you have some

it was named a top pick by morgan stanley today people have been getting in line reiterating their love for it. >> i think among the magnificent seven, it might be the most attractive we own it, we're overweight it the cloud business, we'll hear about amazon, microsoft, google, and i think the numbers are going to be better they had a tough time last year and this is an acceleration. we'll find out if there is the need for more cloud storage. they've been cutting costs where they think they were overstaffed and overspending it's at the lowest valuation in decades. >> a nice move here as we discuss. what i want to know from both rob and joe, why no amazon you have alphabet, meta, microsoft, everything but. why? >> we owned it for a long time and thought they pulled form, an enormity of demand after the covid pandemic we jetsoned that we are in the other spots. i would note that microsoft and apple are neutral positions for us big, being neutral where we're overweight is in meta and google. and the reasons is the refocus on the core business and an acceleration in earnings, the cheapest w

pick is going to have to deal with at morgan stanley.ge to getting these assets in. goldman-sachs is different because the assets came in, they had the billionaire class. the billionaire class banks at goldman, except for when they try to buy private credit. you know, carl, this brookfield, apollo, blackstone, they're capable of doing whatever they want they're not regulated the way that -- >> glad you finally got the memo on this. i've been chattering about it in your left ear for quite some time >> that's the ear that's partially deaf >> it's the ifb over the ear, that happens to people in tv that said, jim, citizen's managing a gain here this morning despite lower net interest income affecting q4 profit >> that was one that was expected to miss people thought that that one was just a sitting duck, and god for them good for them that they proved the naysayers wrong. that is, i think, a very responsible bank at one point, it had like a 7% yield. i like the regionals more than i like the nationals it just -- i mean, the other day, pnc re

morgan stanley. >>> it sure took long enough. about a major retailer finally pushing back on a large consumer products company that tried to raise its prices. today we learned that carrefour, a gigantic french grocery store over 14,000 stores told companies it won't sell pepsico goods because their price hikes have made the products too expensive. they don't want the soda, not lay's potato chips either. carrefour still has products in italy spain and belgium. we are no longer selling this brand due to unacceptable price increases end quote. to which i say what took so long in hardly a day goes by in my house without my wife complaining about the high price of everything in the supermarket. she showed me a ruby red grapefruit and asked me how much she paid for it. i said a buck 99 because i remember i used to get two for two bucks for ages. she laughed. she said are you kidding? one grapefruit is now $3.99. now, i'm lucky enough that i can afford these price increases even though it bothers me on a visceral level but i wanted to k

e*trade from morgan stanley.omplex trading easier. react to fast-moving markets with dynamic charting and a futures ladder that lets you place, flatten, or reverse orders so you won't miss an opportunity. e*trade from morgan stanley. all right, tandy, what's it gonna be, the drink made from whatever was laying around, or the one made with your drizzly haul? drizly! stock up today, sip well, tomorrow. drizly. >>> good monday morning. welcome another hour of "squawk on the street." i'm sara eisen with carl quintanilla and david faber, live for you from post nine of the new york stock exchange. take a look at stocks we're building on the record flows. the s&p up another more than half a percent right now. dow jones industrials up 13% after a strong week last week fueled by big tech ahead of big earnings. the only two sectors weaker are consumer staples and energy. everybody is up. real estate is leading the charge in terms of sectors right now. take a look at treasuries and we've seen firmer yields across the board

morgan stanley. i think he's having a midlife crisis old i'm not.rit. new world ideas. got us t-mobile home internet lite. after a week of streaming they knocked us down... ...to dial up speeds. like from the 90s. great times. all i can do say is that my life is pre-- i like watching the puddles gather rain. -hey, your mom and i procreated to that song. oh, ew! i think you've said enough. why don't we just switch to xfinity like everyone else? then you would know what year it was. i know what year it is. to duckduckgo on all your devie duckduckgo comes with a built-n engine like google, but it's pi and doesn't spy on your searchs and duckduckgo lets you browse like chrome, but it blocks cooi and creepy ads that follow youa from google and other companie. and there's no catch. it's fre. we make money from ads, but they don't follow you aroud join the millions of people taking back their privacy by downloading duckduckgo on all your devices today. >>> let's do some of these calls of the day. paypal, kari, downgraded to perform from outperform at oppenheimer. it could take

morgan stanley is going to be paying under $300 million to settle that block trade probe.will break it all down. the investigation was surrendering -- was surrounding what exactly? >> this was all in the wake of the -- trades and morgan stanley lost some talent over this over concerns about how some of these traits were handled. now what we are seeing is there are close to an agreement. there are sources telling us that the charges could be between $200 billion and $300 billion and while that may sound like a lot, it's a lot less than expected. it is one of the investigations that morgan stanley wanted to clear up in its succession plan as they moved the baton from james over to ted. the penalty will be divvied up between the justice department and the security and exchange commission -- securities and exchange commission and it will not include criminal charges against the bank. this would be in the coming days according to sources, it would turn a page for morgan stanley that has been in overhang in the last several months. ed: cinelli basket -- sonali basak with the bre

at morgan stanley, old school hard work meets bold new thinking. to help you see untapped possibilities and relentlessly work with you to make them real. dad, we got this. we got this. we got this. we got this. life is for living. we got this. let's partner for all of it. edward jones in order for small businesses to thrive, let's they need to be of it. smart, efficient, savvy. making the most of every opportunity. that's why comcast business is introducing the small business bonus. for a limited time you can get up to $1000 prepaid card with qualifying internet. yup, $1000. so switch to business internet from the company with the largest fastest reliable network. give your business a head start in 2024 with this great offer. plus, ask how to get up to $1000 prepaid card with qualifying internet. >>> welcome back to "worldwide exchange." right across the board as chinese stocks sunk to their lowest level in five years on the back of more disappointing economic data. our eunice yoon joins us good morning. >> reporter: hey, frank. the gdp for the fou

at morgan stanley, old school hard work meets bold new thinking.apped possibilities and relentlessly work with you to make them real. . >>> less than 20 minutes until the closing bell. s&p up 1%. let's go to kate rooney with a look at the key stocks. >> hi, mike. hertz, we'll start with hertz shares. jumping up after analysts upgraded the investment firm cheering on the rental car's decision to sell 20,000 electric vehicles from its fleet. it says that should help boost the stock. plug power, the fuel cell company announced new financing plans that plans to raise more than a billion dollars by selling new shares. and they would dilute the existing massive part of the company existing $1.5 billion market cap. mike, back to you. >> all right, kate rooney, thank you. . >>> still ahead, the regional bank rundown. several reporting earlier with more on deck tomorrow morning. we'll hear from the top analyst with all the key themes and metrics he's watching. >>> and plus apple on the rise. shares are popping more than 3% today. what's sending that stock h

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haidi: morgan stanley's executive chairman and former ceo says the u.s.cial system is in good health, despite several lenders collapsing last year. james gorman also said proposed new banking regulations are too harsh and unlikely to change before being put in place. >> there have been thousands of comments put into the various regulatory bodies led by the fed . it was a proposal that i would, say, was extremely aggressive and set a marker. it will not go through in that form. if it did, it would have very negative consequences for corporate lending across this country. it is not going to help the economy grow. >> if the republicans take the white house in 2024, whether donald trump or another contender, do you expect the title revelatory environment will unwind? >> it is too hard to predict. i think you see the pendulums swing. we swung to regulation and to an excessive proposal. i think it will swing back, heading back to more balanced regulation. that's where it should be. i am about balance, the banking system shouldn't be too regulated. on the other

let's bring in leslie picker hi, leslie >> hey, contessa yeah, morgan stanley results weighing on thetock today. currently down a little more than 5%. most analysts have described the quarter as effectively just okay and the stock reaction is reflective of that there was a slow down in net new assets into wealth management leading to flat revenue in that division during the quarter. here is the title of the note, they describe morgan stanley's quarter as, quote, similar to the cowboy's and eagle's the potential is much better than how they ended the year this, of course, was ceo ted pick's first earnings call, having taken over that role from james gorman just two weeks ago. pick was asked how he would describe his leadership style. he implied he and gorman are much more similar than not gorman brings a positive mojo to the business investment banking revenue was up 5% and cfo tells me that the backlog is a, quote, bright spot as they look forward optimism around green chutes bolstered goldman sachs shares for most of the trading day though they are down .3% right now despite declines

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they recommend bac, citi, morgan stanley and u.s. bankcorp. jim, you own several and like citi. >> you asked the question, what is the one sector that will surprise you. approaching the month of february and i will tell you i think it's financials. you have strong performance. citigroup is higher. gap is higher. can you say the same thing for bank of america and if you look through the entire financial sector, look at what the research firms are doing, i have to tell you something, in terms of mega cap earnings this week for the benefit of an equally weight, there's the opportunity for capital to go into other areas, i would target financings. >> jenny, you have schwab, amex, not the big money center banks or investment banks but they fall into the financials umbrella. >> if you look at this year's earnings, they're not that great but then '25 and '26 they start to explode. i think this year is the setup. i'm wondering if we should have been more aggressive getting into the now, people anticipate, or if we're slow to it. schwab and amex, they'

e*trade from morgan stanley >>> here we go. mark is on. break down the crucial moments of the trading day. wall street analysts, getting more bullish if you can believe it. even on nvidia. we will take you to those calls. wall street is watching. brokerage firms get ready to look at interactive brokers. they will renew the assessment of the stay. i guess it was a little bit unsettling. >> they had some payback moments on the surface. they are very negative. most of them are resetting lower. it has not put an index into the flood. you know that you can hang in right there. i'm looking at last week's low. we were not close to it. until you break that, you are not doing anything except turning around. the volatility roof has gotten someone's notice. it is more traditional from this third week of january. nvidia itself, has helped stave off the tech sector. >> this is one of those things that you can reiterate. this is the total possible ai leverages. this was the call. there is the excuse to perform better. >> maybe there are interactive brok

we're going to get morgan stanley and goldman tomorrow.get some of the regional banks, pnc, charles schwab, citizens, financial group, mnt, through the week and this financial reporting season has been messy to say the least. >> it started messy. it did have record profits last year. if you heard about the state of the consumer, it sounded pretty good. brian moynihan from bank of america talked about how he continued to see the consumer spending on services. i was at a restaurant last night at 6:30, it was jam packed. average deposits are higher than they were pre-pandemic. people have money in the bank account. wages are going up this year. i think you'll see a good earnings season this week. i think morgan stanley, schwab specifically, schwab is a wealth management firm like my firm, we had a great quarter. i'm assuming they'll see the same benefits from markets going up. more gone -- morgan stanley, goldman sachs, if we see mergers and acquisitions pick up, ipos pick up, which they should because interest rates are going down, we know w

that was the head of morgan stanley apac wealth management. vonnie: thank you.e will be back with more coming up from the alpha investment conference. the bank's head of equity advisors joins us in the next hour. this is bloomberg. ♪ thanks to avalara, we can calculate sales tax automatically. avalarahhhhhh what if tax rates change? ahhhhhh filing sales tax returns? ahhhhhh business license guidance? ahhhhhh -cross-border sales? -ahhhhhh -item classification? -ahhhhhh does it connect with acc...? ahhhhhh ahhhhhh ahhhhhh haidi: we are paying attention to cryptocurrencies after the milestone decision to grant approval to spot it going etf's. you can see trade and what has been a groundbreaking day for those etf's to when people come, they say they've tried lots of diets, nothing's worked or they've lost the same 10, 20, 50 pounds over and over again. they need a real solution. i've always fought with 5-10 pounds all the time. eating all these different things and nothing's ever working. i've done the diets, all the diets. before golo, i was barely eating but the w

morgan stanley. conversations or moments that matter, but you can invest in them. at t. rowe price our strategic investing approach can help you build the future you imagine. t. rowe price, invest with confidence. have heart failure with unresolved symptoms? it may be time to see the bigger picture. heart failure and seemingly unrelated symptoms like carpal tunnel syndrome, shortness of breath, and irregular heartbeat could mean something more serious, called attr-cm a rare, underdiagnosed disease that worsens over time. sound like you? call your cardiologist and ask about attr-cm. >>> the white house wants to give the ev industry a charge in the form of millions of dollars to improve infrastructure. phil lebeau has more on the story. phil. >> reporter: melissa, this is part of the white house ongoing push to expand ev adoption. a big part of that is you have a lot of people when it comes to buying an ev, i can't do anything if i want to drive it long distance with charging anxiety. the charging netw

morgan stanley's executive chairman and former ceo saying the u.s. economy is in good health.es gorman told us exclusively that proposed new banking regulations are too harsh and will also likely be changed before being put in place. >> there have been thousands of comments put into various regulatory bodies led by the fed. it was a proposal that i would say was extremely aggressive. it will not go through in that form. if it did, i think it would have very negative consequences for corporate lending across this country, which is not what you want. it will not help the economy grow. >> if republicans take the white house in 2024, if it's donald trump or another contender, do you expect this tighter regulatory environment will fully unwind? >> it is too hard to protect. you see pendulums swing. we swung to wider regulation. i think it will swing back. so it is headed back toore balanced regulation, and that's where it should be. i'm all about balance. the banking system should not be to regulated. that would be a nightmare. on the other hand, if required too much regulation, th

morgan stanley. oh no, a rash. maybe it'll go away.www, how am i going to find a doctor i'll actually like? is that a qr code? dr. stafford makes you feel at ease. thanks rash! you've got more options than you know. book now. what is cirkul? cirkul is the fuel you need to take flight. cirkul is the energy that gets you to the next level. cirkul is what you hope for when life tosses lemons your way. cirkul, available at walmart and drinkcirkul.com. >>> welcome back to "worldwide exchange." u.p.s. guiding the teamsters contract to be realized in the fiscal year. the price tag for the deal has been disputed by u.p.s. the consensus by investors is the customer lost during negotiations and i amncreased lr costs will impact the company. the two key things to watch are full year guidance and margin. the drop of margin will be returning to 10% this quarter. guidance has revenues growing by 4.5%. if u.p.s. guides in line or above, it could give investors confidence. t the strategy over $1 billion of acquisitions last year alone. expanding in wa

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e*trade from morgan stanley.erful, easy-to-use tools, power e*trade makes complex trading easier. react to fast-moving markets with dynamic charting and a futures ladder that lets you place, flatten, or reverse orders so you won't miss an opportunity. e*trade from morgan stanley. here's why you should switch fo to duckduckgo on all your devie duckduckgo comes with a built-n engine like google, but it's pi and doesn't spy on your searchs and duckduckgo lets you browse like chrome, but it blocks cooi and creepy ads that follow youa from google and other companie. and there's no catch. it's fre. we make money from ads, but they don't follow you aroud join the millions of people taking back their privacy by downloading duckduckgo on all your devices today. >>> welcome back to "fast money. we have dug into next week's tech earnings reports but they are far from the only names on the calendar we wanted to to ask the chart master for his read on nontech names. we picked four carter start us off with novo nordisk. >> of

e*trade from morgan stanley.plex trading easier. react to fast-moving markets with dynamic charting and a futures ladder that lets you place, flatten, or reverse orders so you won't miss an opportunity. e*trade from morgan stanley. >>> we are now in the closing bell: market zone. united health, the greatest track on the tower. bertha cohen's here to break down what is behind that move and airline selling off. elaine becker reacts. bertha, let start with you in this move and united health. >> you know, mike, they beat on the top and bottom line as far as earnings with the big number that gave investors pause, the 85% of medical loss ratio. that is the percentage of insurance premiums that were spent on medical cost. it was a full point higher than expected. united health said some of this was the surge in covid late last month, which is a higher medicare inpatient costs and seniors were hospitalized at your end, a lot sicker than what they had seen most of the year. the other driver, which is something that all th

e*trade from morgan stanley >>> we are now -- tested brewer is, traveled visor. the dow today. this actually has been a strong group, a strong stock in a stronger. what is happening with the numbers today? >> earnings come out and they just blew away exportation. well as far as analysts, in fact, just published a note raising her price target from 182 to 211. which is what it is at right now as you can see. almost 7% on that massive earnings b. the global insurer, mike, sent record quarterly highs in poor income earnings per share and return on equity. that came in at 24%, year on year. look, they are just writing lots of new policies. they are charging more for premiums. they are keeping the customers that they have, even when the premiums are higher. those higher interest rates have been good for insurers in general. for sure good for travelers. so much of their investments are in fixed income. by the way, fourth quarter certainly helped by lower catastrophe losses. that is a reversal from the much higher catastrophe costs in the previous quarters of the year.

seth carpenter at morgan stanley, thank you very much. >>> let's drill down on the markets and wherehe opportunities lie ahead of tomorrow's fed decision. dryden pence, the cio of pence capital management joining us now. you heard seth there talk about how the markets are pricing in. there's not going to be a cut in march. there could be a cut in march and now back to it. give me a sense of the reaction to the jobs data, the consumer sentiment data today and how you think that leads the market setting up for the fed decision. >> well, i think the important thing to recognize is that consumer sentiment jobs -- jobs is the big number. i mean, people forget that this economy is probably doing better than most people expect. we've added 4.7 million jobs since the pandemic. we added 2.7 million jobs last year. that's like all the job labor force the state of south carolina. we grew south carolina last year. so the important thing is the underlying strength of the economy, of the jobs market and all that is probably better than a lot of people are thinking. i think that drives consumer sen