p. morgan make $2.00 to $3.00 times the profit of g. p . morgan, the ceo, might make $200000.00 a year. meanwhile, jamie dining becomes a billionaire as an employee of a bank, or you become a 1000000000 or as an employee, it's ridiculous. so it's all, it's a different talk completely different financial systems. china doesn't get in the speculation. they don't get into all the leverage stuff. the banking system, the currency has been fixed only to provide stability for business. so that's what the whole system is about. building a real economy with real jobs and real prosperity, right, and a, g, d p over there is something like 1718 percent in the u. s, it's barely positive. we'll get into the 2nd segment. thanks for being on cars report, dan, and that's going to do it for this edition of kaiser report with may max kaiser and stacy herbert want to thank i guess, dan collins. until next time bio the me i this is your media a reflection of reality. ah ah, in a world transformed what will make you feel safer? tyson lation, whole community. you

p. morgan, city group. and so the friends extended itself along were sought by the public, by falsifying their own financial situation on loan application. therefore, the public and banks are complicit. committee bank for me. my name is richard. i was senior president and business chief underwriter for 2nd group me at the time city group was the largest think it was my responsibility to make sure that the $90000000000.00 a year that we were purchasing and mortgage alarms that were originated by other banks. and mortgage companies, these met our policy standards in early 2006, i discovered that over 60 percent of these mortgages did not meet our guidelines. they were by definition defective. when i discovered this in this was june of 2006 silly me, i thought it was my job. i started issuing warnings because i was supposed to make sure that these met our policy guidelines. and i sent email. i put it in my weekly report, i made committee presentations, i mean, i'm not a shy guy. i cornered people in the hallwa

p. morgan chase, bank of america, travelers, p g and girls who code the topic of the day with the importance of maintaining cybersecurity in the face of increasing cyber attack. with reports noting that the goal of the white house was to address the root causes of the attacks to look at repairing critical infrastructure aimed at stopping future attacks and to work toward filling me more than half a 1000000 cybersecurity job openings in the us time. now for a quick break, only come back, vice president harris has some harsh words for china during her time in vietnam, but basing was quick to fire back questioning washington's credibility. we'll discuss it all next. and as we go to break your, the numbers at the close, the ah, ah ah. well america, crazy frat party in afghanistan is over 20 years, leaving behind quite a man the families that mark i took marking your function, you would like to get some more. yeah, where it shows me how do i manage john got that. i've got that limit and i wanted them to go back to the left me about run the less about i get up there for us. let me use the welcome

p. morgan chase, bank of america, travelers, p g and girls who code the topic of the day with the importance of maintaining cybersecurity in the face of increasing cyber attack. with reports noting that the goal of the white house was to address the root causes of the attacks to look at repairing critical infrastructure aimed at stopping future attacks and to work toward filling the more than half a 1000000 cybersecurity job openings in the us. the time now for a quick break, only come back vice president harris has some harsh words for china during her time in vietnam, but beijing was quick to fire back questioning washington credibility, we'll discuss it all next. and as we go to break sure the numbers that the close. 1 the me, i americans love fine. ah, this was fundamental part of how our political leadership and our country at large, understood the bargain. you get a home and then you will rebel, right, as the things you don't revolt if you have a stake in the system. be really interesting to dial back and think about the longer deeper history of what housings meant in the united states

p. morgan chase, bank of america, travelers, p g and girls who code the topic of the day with the importance of maintaining cybersecurity in the face of increasing cyber attacks with reports noting that the goal of the white house was to address the root causes of the attacks to look at repairing critical infrastructure aimed at stopping future attacks and to work toward filling the more than half a 1000000 cybersecurity job openings in the us time. now for a quick break, only come back vice president harris has some harsh words for china during her time in vietnam, but beijing was quick to fire back questioning washington's credibility. we'll discuss it all next. and as we go to break your, the numbers at the close. 1 the ah ah when i was the wrong, why don't just don't the rule? yes to fill out the thing because the african and engagement equals the trail. when so many find themselves, well the part we choose to look for common ground in so what we've got to do is identify the threats that we have. it's crazy plantation, let it be an arms race is often very dramatic. development only perso

p. morgan, or goldman sachs. they all failed. all the smartest guys in the room always fails. so we're going to look at, you know, the data, which we've pointed out that you know, why my germany, what happened was 19202122, the people their loved the failing elite. and they loved them because they were printing money and giving it to them, and they kept up with the inflation. and they, everybody felt wealthy. things were buzzing. that it was a bit of a herat time until the hyper inflation had in. so right now, like this seems similar in the last, gast of the legitimacy, they're looking for any sort of legitimacy and point. the people love them when they get those free stories. they love them when they get all that free money and they don't have to work anymore, they get to work from home. i'm are germany had the same thing by the way. they had a passive resistance movement to resist the french and belgium occupation of their coal area to pay for reparation. so they, they told the people, basically not to work, job passive resistance to, to the occupation by the french and the

p. morgan and the member banks. goldman sachs and all of the other banks there's. so the issue that we have here with digital currency controlled by central banks is which is what they want to do when they're trying to get rid of the $100.00 bill or the 500 dollar year or no, they don't want, no government wants the ability to have central planning so that if you're not a good apparatus check, they can shut off your bank accounts. cut off your privileges, puts you in a mask and not let you do anything ever again. so will they announce that while the dollars decline since 1913 when the fed started about 98 percent. so it's only got 2 percent of its value reserve currency historically going back to the beginning of time. only last about 100 years. we're at about $100.00 a little over a 100 years in the us dollar before that is as many people know who watch your program. sterling, the british currency, great british pounds, were the reserve currency before the dollar for over 300 years, which was an anomaly in history. now what we're seeing now is the bread and circus

p. morgan, or goldman sachs. they all failed all the smartest guys in the room. always failed . so we're going to look at, you know, the data, which we've pointed out that you know, why my germany, what happened was 19202122, the people their loved, the failing elite. and they loved them because they were printing money and giving it to them, and they kept up with the inflation. and they, everybody felt wealthy. things were buzzing. that it was a bit of a herat time until the hyper inflation head in. so right now, like this seems similar in the last ghast of the legitimacy, they're looking for any sort of legitimacy. and at this point, the people love them when they get those free stories, they love them when they get all that free money, and they don't have to work anymore. they get to work from home by mart, germany had the same thing by the way, they, they had a passive resistance movement to resist the french and belgium occupation of their coal area to pay for reparation. so they told the people basically not to work, job passive resistance to, to the occupation by the fren

p. you still got morgan stanley south of 4000 on the. then you've got the bulls come the likes of goldman. tom: the dispersion is there. i'm going to go to the way it is constructed by each of the bulls. it is very nuanced now between revenue growth, between the leverage that comes down to the different lines on the income statement, and down to free cash flow. everybody's got a different view. jonathan: let's get one view right now with ed yardeni, yardeni research chief investment strategist. through the framework for you. ed -- walk us through the framework for you. ed: all you have to do is get pe and e right. the trick is getting them right. the challenge ahead is the valuation is already quite elevated. it has been earnings driven bull market. we had a melt up really since march 23 of last year, and initially that melt up was led by the pe. forward pe went from 12.9 to 23 by september of last year. since may of last year, earnings have been on fire. they are going to be up 80% just in the second quarter. i think the market is going

p. policies set forth byj.p. morganrthj.p. morgan, chase and mastercard, they don't affect ccm or possible abuse on platforms. they don't affect that at all. all they don't affect that at all. all they do is take away the ability or workers to get paid doing a job that they want to do. brute workers to get paid doing a 'ob that they want to do.i they want to do. we will have to leave it there. _ they want to do. we will have to leave it there. mary _ they want to do. we will have to leave it there. mary moody, i they want to do. we will have to i leave it there. mary moody, thank you very much for coming on the programme and explain it all to us. so we spent a good part of us tonight in texas. so we spent a good part of us tonight in texas. let's head back to texas one last time and speak regular return to the music theme. you should note that austin, texas has more live music venues than any other city in the united states and they are looking forward to a music festival of their own in the austin city limits festival

he will morgan ultra 0. now also any p o p, an armed group has said it is reached at alliance with the t guy forces. that is, of course the ticket and people's liberation from the t p l. s. and the aroma liberation army. you say the only solution is a military overthrow of the government. really to see if he's government added those 2 groups to ethical, terrible a reminder of now we got to this point of a conflict that actually broke out back in november. that was an easy, i've been prime minister via had sent troops to fight the t p. l. s. the group dominated national politics before i became to pass by the end of november, the government announced its forces had taken control of 2 guys regional capital mckellar. but the conflict took a stunning turn in june when to go in forces took back mckelly, and government soldiers withdrew. then the rebels have pressed into the neighboring afar region and the east and hara and the south as well meant that more than 250000 people have been displaced. or he's got to talk to our alo a

and then mister morgan with a 1000000, but you're quite your lou d g p. although i may cannot move though, but not only just, i mean no matter how to me. i mean that emotion namisha but because your teams are wanting i'm i fully lost now my body. which was i think you but they told me but i don't want them to me. don't i do me binders? i was i heard them. i'm like, well i'm, i was my mom was fun to any. don't let me get your cell phone with me. tell me a very cold night. has caused some unexpected problems. the poor quality, diesel has frozen. the truck won't start. what did you make them out with that i got to make being able to talk to god step out of the children 1st. yes or no the mr. those are the you know no one. yeah. home. although they will do that by me, the i is high g and he's dr. and move higher into the mountains. a layer of snow has covered the road. it may be already too late to get through. oh all the thought of it, it's not one of them, but i have heard of somebody. oh, what about the limited number of somebody that get the head of a sma

p. for the market strategist, tom keene, many including morgan stanley look to the u.k.late for the united states. for that very reason, many people in the market still construct that for the near term because of exactly that. tom: i think the constructive wing is tangible in the developed world. to me, jon, it is the newsday every day. this significance yesterday of mayor de blasio and governor cuomo reading the right act to the restaurant business to get their act together was really jonathan: critical. do you think the mayor of new york city has -- tom: i think it is a sterling relation, yes. jonathan: is that said, though, that for the moment we are in right now, that that relationship would really matter? it would really count? and it hasn't been built up. lots of words. you're telling me there is a commercial break. tom keene, leitz abramovitz, joining me. tom: we should get a parcheesi board. jonathan: john stoltzfus of oppenheimer. good morning. this is bloomberg. ♪ and there you have it - wireless on the fastest, most reliable network. wow! big deal! we get unli

p 500 this year. welcome to "the closing bell." i'm wilfred frost with morganr only 0.2% by the close had a decent late day surge. the s&p 500 up 0.25%, enough for its 46th record closing high of the year only one sector in the red, health care. down 4% for the one declining sector of the day. >>> coming up, ebay, lordstown, ebay and bumble are all set to report we'll bring you instant analysis of the numbers >>> also still with us is josh brown and liz young joins us from sofi. tom sosnos from tasty trade. mike santoli, i come to you. 46th or so record close of the year for the s&p 500 kind of relentless grind but also something was yields picking up a bit earlier in the session. essentially overall the markets shrugging off or welcoming that cpi data >> without a doubt at least it was no fresh reason to be overly concerned it was pretty consistent with, i think, the premise there we had this massive surge in yields and then maybe an overshoot to the down side in yields and a lot of heavy flows into things like treasury etfs it seemed like a decent moment for

morgan brennan has the morning off. and s&pning play once again back in march sign oofz delta rollover and china helping out as well. >> we're 30 minutes into the trading session. here are the three big movers we're watching this hour best buy rallying for the second quarter. the stock is moving up today plus, palo alto's surging. the company issuing a upbeat outlook as well. along with advanced auto parts, despite falling short of the estimate, the company did raise its full year forecast for overall sales. and especially used cars and all the parts needed to fix them >> as we said s&p not too far away i did note in the past 24 hours, you had j.p. morgan, morgan stanley and wells fargo either say don't get out of the cyclical trade or add a new target >> it's been very tough to fight, this persistent trend the street was behind the market most of the year there is a little bit of a twitch to go back to the cyclical story if you look at the s&p 500, we're appreciating for the s&p up 20 prer and for three months, 30% annualized

p enforces of shot at them, detained and killed. people trying to leave hipaa morgan now from casala in eastern sit on the fly high. lou is preparing to live as a refugee into dance eastern cattle estate. he arrived here 10 days ago from either by if europe is northern region, leaving his wife and children behind. he says the deteriorating situation. 40 grands is what for him to leave home. you know what the last, the m horem militias that have thousands of us to grinds and containers. many were killed and their bodies thrown around. i saw many bodies and had relatives who were arrested. they mostly targeted men because they're afraid to grind defense forces would recruit them. so i had to leave this. why is one of the few dozens of refugees who have recently arrived to this reception center less than 5 kilometers from the european border. but not everyone makes it here. last week, dozens of bodies were found floating in the city river, which flows between sudan and if many had their hands tied behind their backs and suffered gunshot wounds. camp authorities, se refug

morgan, 4300 at goldman sachs. on that date in the middle of december, we were at 3600 on the s&p. yesterday we closed at 4400 on the s&p. i want you to remember how i felt in the middle of december when we heard those calls, things like 4300 at goldman, like 4400 at jp morgan, even things like 3950 at deutsche. that sounded tremendously bullish when these forecasts were being put together, and this market has just ripped. tom: you walk through that nicely. what is so important here is the kostin call is an extrapolation of the current trend. he is not talking about a level of. he is saying i have faith in the present trend, and that is what the brave souls did last year. you mentioned the end of 2020. i am still not overly tots and the wolves. they tied at 1-1. jonathan: when did that happen? is that recent? tom: what december of last year. jonathan: you went back to a game last year. why do you remember that? tom: because they should have won, and they didn't. the wolves are always surprising. jonathan: thank you, tom. lisa, save us. lisa: we are talking about the upside surprise

he will morgan august 0. hum day it costello sudan has recalled it's ambassador, it's a few p. m, after they refuse cartoons offer to mediate and the ongoing conflicts and t gray. if you will, periods of regional and international pressure to end the fighting in its northern region relations between the suburb and her tomb are severely strained over lands disputes. the fee is grant renee songs, dam construction, thousands of pool government supports if any feel peer gathered in the capital either some about to denounce the growing rebels. the rallies in mexico square against they see is foreign interference in ethiopia as affairs governance has come in for strong international criticism. the conflict in c gray, which has killed thousands and pushed the regions to the brink of famine. in last week to see i had the highest covered mortality rates in the world. but there are signs things of turning around me and young people have been mobilized to give more than 300000 shots. just a few hours under chappelle reports waiting in line with a lot on their mind. thousands of tunisians

financials leading the s&p 500 on a record day for the index. bank of america, goldman sachs, morgan stanley all posting games. this comes as the benchmark ten-year treasury yield continues to climb higher. it is now at 1.34% guy, what did you make of this big move >> well, we had a few people on over the last couple of weeks, i know tim has been loving this. jeff mills, when i hear from him as well. banks are going higher dan pointed this out a couple of weeks ago. the banks stopped going lower. that was your tell they've been off to the races ever since to me, citi is the most compelling trade here. i think it trades north of tangible focus about 78 bucks we've been as a show, collectively over black stone. they made another acquisition. that stock can continue to go higher and if you think as i do that rates will continue to go up, the insurers look really interesting. specifically crew and met life >> we want to go to the white house. we told you about the cyber summit that president biden is holding. jamie dimon is leaving now basically we're witnessing the ceos at the summit le

morgan, ibm, goldman, the s&p 500 winners list headed by -- show me the nasdaq winners, big tech companyist and it is not there. >> activision blizzard, the pandemic booming gaming continues. stuart: they plan to spend billions more on cyber security. and this follows a meeting with the president yesterday. what came out of the meeting other than they are going to spend a ton of money. >> that is important. some of these numbers are staggering. they spend $10 billion, over the next five years, and 50,000 jobs with cybersecurity, and it is positive. >> i will see what the administration will do to the hackers messing around with us but we didn't hear about that. 69 or 70 points up 0.2%. the tenure treasury yield, going back up again, one.36%. >> 1786. and oil, we have that at $67, average price for gas holding at $3.14 was the situation in afghanistan more dangerous by the hour. at home the president won't take questions. he's cracking jokes. watch this. >> what will you do if americans are there after the deadline? >> president biden: you will be the first person i will call. stuart: i d

but in me it convicted 3 c o p soldiers and indicted 25 others for rape and other forms of sexual violence from any survivors. just as far from being therapy, he will morgan all just the room will still had hail out there a nice by with my that lie, a british diplomats. the rested in germany on i still on challenges will tell you who is accused of working for the raucous reception for leo massey. he's officially presented as the parish management player, the story after the break. ah hello. notice here we've got our 6 named storm of the atlantic hurricane season. this is tropical storm fred. it is not expected to be a hurricane, but come with me as we track it out over the next 24 to 48 hours so impacting cuba, the palmers, and by friday will push into the florida keys that a major rainmaker we think on the top in about a 150 millimeters, rain through the pacific coast of mexico. and we've got sheets of rain falling for costa rica and panama on friday. okay, next. stop south america. as usual, our continuous rains through the amazon river basin. but what we're talking about toward the south is a cold friend punch in across months of the day are struggling

p 500. we advance .2%. this is bloomberg. ♪ ritika: with the first word news, i'm ritika gupta. jp morgana bitcoin fun to wealthy clients. customers of jp morgan personal bank -- it is an alternative asset manager. they say they are no investments from clients yet. landlords have gone to court to challenge president biden's extension of the coronavirus eviction moratorium. the alabama association of realtors said the move goes against a ruling by the u.s. supreme court last month. the president warned extension could be a challenge and urged lawmakers to come up with their own. two senators proposed using unspent state covid eight funds on infrastructure. john cornyn and democratic senator alex padilla are bargaining with the white house. if they can make a deal, it could free up billions of federal dollars for states. new york governor andrew cuomo is struggling to hang onto power. he said yesterday, a day after the state attorney general released a report outlining 11 cases of harassment towards women. he has denied he will step down despite calls from former allies urging him to quit.

understand your call for earnings going forward, for the p/e ratios to start going down despite the fact that price will continue to rise. mike wilson of morgantanley yesterday said he thinks people are underestimating margin pressures. why are companies going to be able to continue to pass along price increases for their inputs to consumers for the foreseeable future? patrick: i think it is actually simpler than that. they pass them along. it takes time. that doesn't mean month-to-month there may not be incremental input costs, and i specify input costs because oftentimes people talk about margin. there's variable which is the input cost pressure, and then depicts market. you are driving higher sales over the fixed cost part of your business. that is your machinery, your buildings, all of those long life assets. that causes significant margin depletion. margin pressure arises when sales begin to falter. as long as sales remain healthy, and demand looks great, the inventory backlog looks phenomenal, we do not see margin pressure coming from any of these issues. jonathan:jonathan: got to jump in with some headlines coming from the national sec

p 500 gives us pause. i think most folks know morgan stanley, at this juncture has been somewhat more cautious than some ofieve there could be a 10 to 15% pullback over the next three to six months. this market is not pricing in risk premium we're not pricing in the risk premium either for higher inflation or rates nor are we pricing in the risk premium that earnings revisions, which have continued to grind up higher, are going to have to take a pause and incorporate the fact that there are going to be margin pressures right? margin pressures from rising costs, rising wages, rising taxes. no one's talking about rising taxes. in washington. rising regulation and so our view is that this is a market that increasingly is getting over its skis and you know, the fed might want to talk about financial stability and asset bubbles at some point because they're driving them >> that definitely didn't happen today but you guys have been quite clear. thank you, guys. appreciate it very much. good to see you. >> thank you >> have a good weekend >>> as we head to break, take a look at the biggest gainers in the s and, p

cyberattacks googleo sundar pichai and jp morgan jamie dimon also reportedly received invitations. carl. >> see what that looks like tomorrow in the mean s&p, nasdaq, shooting for four straight gains. record high on both, and the nasdaq continues to tread above 15 kp let's get to the half. >>> and welcome to the "halftime report." i'm frank holland in for scott wapner stocks hitting all-time highs and major milestone for the nasdaq and new call taking the s&p 500 target for the year to a new street high. what's taking us there of course we debate the next money moves with our investment committee today. that includes downtown josh brown. stephanie link, michael farr jon najarian co-founder of market rebellion.com and kate moorehead of the mattox strategy for blackrock global allocation team. let's check the markets. nasdaq hitting an all-time high reaching 15,000 for the first time ever. the s&p 500 as all-time highs. the dow about a .5% from a new high there and what we want to talk about right now is the bullish call from wells fargo highest on the street as we mentioned forecasts about an 8% upside from current levels points to historic

from cyberattacks googleo sundar pichai and jp morgan jamie dimon also reportedly received invitations. carl. >> see what that looks like tomorrow in the mean s&pht gains. record high on both, and the nasdaq continues to tread above 15 kp let's get to the half. >>> and welcome to the "halftime report." i'm frank holland in for scott wapner stocks hitting all-time highs and major milestone for the nasdaq and new call taking the s&p 500 target for the year to a new street high. what's taking us there of course we debate the next money moves with our investment committee today. that includes downtown josh brown. stephanie link, michael farr jon najarian co-founder of market rebellion.com and kate moorehead of the mattox strategy for blackrock global allocation team. let's check the markets. nasdaq hitting an all-time high reaching 15,000 for the first time ever. th

p ends of washing up in neighboring sudan is believe the victims of the war in the to great region where it writes group say, atrocities are being committed. it morgan reports now from what l. hulu in sedans, casala region for almost a week. now. deborah, tim, say deborah castillo's and if you can farmer incidence eastern casela state has been playing the role of grave digger, the banks of the city river that flows between the 2 countries has been carrying the bodies of europeans. he says are from whom at our intake i wear a conflict has been waiting for nearly a year. now. the latter dining with an audible telephone had that we're going to, we were called in about 5 days back when the 1st bodies started appearing. since then, we've been burying people nearly daily, most come with their hands tied behind their backs. some had gunshot wounds in the head, others in the back. we buried more than 40, so 4, my god. now you, the bodies were found at the end of last week, a few days after dozens of new refugees from take. i arrived at the reception center income home and i need the border with sudan is one of the few areas still under the control of the fe

there on the s&p just about at the close, by a matter of basis points we'll see where it settles dow with a record-closing high the nasdaq down 0.5% >>> welcome to the "closing bell." i'm morganth wilfred frost, also mike san toldi. you just heard it from wilf, but record closes for the dow and the s&p. the dow finishing up about half a percent, for 162 points. s&p squeaking out a record close, 4436 is the level there very narrow trading range today. we saw interest rates ticking higher, cyclicals outperforming, tech and some of those growth names underperforming day. the reason the nasdaq finished the day, down 0.5% as well the dow transports also higher on the day investors now counting down to coinbase's results speaking of an earlier investor about the stock's outlook. plus national economic council director brian deese on the senate's package of the infrastructure deal, and what is next on president biden's economic agenda. charlie is still with us, as is xi pou >> the pendulum has swung back in the last week or so, as we got decent jobs, trying to look through the covid surge, we had the earnings base as being rebuilt, projections looking pretty good. i think it speaks