p. morgan. if you look into the history books that, that worked with that of hitler's nazis. ha, interesting angle. there will have to do more investigating on the j p. morgan angle, but it certainly seems to be pretty par for the course with the tentacles of that big company. nicholas sturgeon option just said that a general election is now a democratic imperative. what are the chances of the next 5 minutes? that would be a well, should we say chosen wisely without any irony, the media. and this, in order for me here in britain is saying, well, that can't be a general election because the conservative party would realize they'd lose it. the, the objective arguably by those in the establishment, the people who really run britain. but even these on elected and said that recurred in britain where there be the security service, whether it be the media moguls that should be said that the murder chris knew about what was going to happen as usual. way ahead of time. they seemed to have anointed kiss t

p. morgan expects the u. s. economy will dip into an economic recession in the next 6 to 9 months. ceo, jamie diamond, predicting the recession won't be like the 2008 crisis, but worn, that inflation big interest rate hikes and other factors have paved the way for a future of uncertainty. american electric, as u. v maker vivian is recalling almost all of its vehicles, some $13000.00 to fix a faster that may impact impact the driver steering power. the move comes after a few customers report the issue without injuries. revene is trying to establish yourself as a reliable competitor to tesla. the bank of england says it will widen its bond purchasing to include inflation linked debts until the end of this week. buying up to 5000000000 pounds worth of the assets daily beginning tuesday. the measure comes with the u. k. struggles to call markets rocked by u. k. budget plans. announce last month. hillary ingram. as an economist at lancaster university. she joys me for more hillary. welcome back. the show, the bank of

p. morgan chase wells fargo city group. so there are these losses, but offset somewhat by consumer lending. all the losses really are much of it coming from these investments. which as we all know, the volatility in the markets, the warnings of recession, there have been major losses there. and we are also seeing something interesting of more loan provisioning, putting money aside to offset any losses from loans that may sour, if there is in fact it down, where trend in the economy with again, all these warnings of a recession over here. okay, teddy, australia, all wall street boys, thank you very much, yet they now it might be due to a desire to protect the environment or the welfare of animals that meet alternatives are increasingly turning up on your opinion plates, plant based burgers, for example, are already widely available, but scientists and gore mays are working together to take things. one step beyond this is not meat, and that's not the most surprising part. because these plant based dishes don't come from a tra

p. morgan expects the u . s. economy will deep into recession in the next half year. also, chief executive, jamie diamond, predicts the recession won't be like the 2008 crisis. but once inflation and big interest rate hikes of paid the way for an uncertain future. and you k unemployment is full into 3 and a half percent. as brits continue to leave the workforce at a wrinkled rate is the lowest level in nearly 5 decades. labor shortages, making it harder for companies to find work. it's the panoramic has altered life markets much of the world, but it's been hard to find skilled workers in germany for a long time. now it's even harder, especially for solar cell makers. the surgeon energy prices has households re thinking where they get their power from. master roofers, sebastian, tom chick and his team have been on site since 8 in the morning. they want to get done today because the next job is already waiting. the demand for photovoltaic systems is huge, but a lack of work has means that many jobs can't even get started. that leads to frustration, yard oscillator, i tu

p. morgan expects the u. s. economy will dip into an economic recession in the next 6 to 9 months. ceo, jamie diamond, predicting the recession won't be like the 2008 crisis, but worn, that inflation big interest rate hikes and other factors have paved the way for a future of uncertainty. tesla continues to electrify german drivers. official figures showing the u. s. electric car makers, tesla y out sold both volkswagen and audi last month. as was model 3 also dominated the mid range segment with nearly 50 percent 15 percent more sales. american electric as u. v maker vivian is recalling almost all of its vehicles, some $13000.00 to fix a faster that may impact impact the driver steering power. the move comes after a few customers report the issue without injuries. revene is trying to establish itself as a reliable competitor to tesla. u. k. unemployment has fallen to 3.5 percent at the lowest level in nearly 5 decades. as brits continue to leave the workforce at a record rate, the latest figures worse and conce

p. morgan see? jamie diamond said to me, he is worried about what he sees coming for the world's largest economy. well, he says the world's largest economy is holding up now, but it's facing very strong head winds. so again, you've got the same problems rising rates, the fed tightening, surging inflation, and the war in ukraine. it's affecting economies around the world. and we've known that for some time, according to the fed minutes interest rates are going to be raised to a certain point to a more hurtful, more restrictive point, but will be maintained at that level for some time. so again, we're going to have to be in this for the long whole the tricky part there, the i'm f says is not going to aggressive. so there's a strong labor market at the moment. we heard that last friday. and if the fact goes too far and raise is too high and to quickly and to aggressively then that could destroy everything at the moment, it looks like it can do that. it can start raising, continue to raise, right? so it

p. morgan is the speaker mr. speaker. we remain completely committed to our mission to go for growth. but growth requires confidence and stability, which is why we are taking many difficult decisions starting today. but when we do need realism about the challenges ahead, we must never fall into the trap of pessimism. despite all the rest in challenge we face, there is enormous potential in this country where some of the most talented people, 3 of the world's top 10 universities, the most tech unicorns in europe. one of the world's great financial centers, incredible strengths in the crate of industries in science, research, engineering, manufacturing, and innovation. and all that gives me genuine optimism about our long term prospect . but right? but to achieve that, it is vital. we are now to create a stability on which future generations can build. the reason the united kingdom has always succeeded is because a big and difficult moments. we have taken tough decisions in the long term interests of the country and in a way that is consistent with compassionate conservative values. tha

morgan, american express, walt disney, big names there and s&p 500 winners, show them to me please.rporation. for whom i work. susan: the news is recombination possibly. stu: yep, nvidia is on that list and generac, up 5%. nvidia, microchip, auto desk and more. susan: is this because the market is oversold at this point? they just want to buy? stu: could be. it's a very nice bounce. thanks, susan. coming up, former congresswoman leaving the democratic party and joe concha saying she's the voice of reason. listen to what president biden said about britain's prime minister liz truss' tax cut plan. roll it. >> i wasn't the only one that thought it was a mistake. i disagreed with the policy but that's up to great britain to make that choice, not me. stu: appears morgan is calling out the president for being, i'm quoting now "disloyal". he joins me mome momentarily one set. two nice british accents together. next. ♪ >> don't you love this, mondays morning and look at your money and it's going up. dow is up 660 and nasdaq up 340. nasdaq up 3.25%. that's a significant gain. got it. take a

p. still even morgan reports from cartoon. this violence is an extension of the violence that broke out last july between the 2 tribes, the hausa and the berta over land issues. the house, i wanted to establish a tribal administration in blue now state something that the bertha and other tribes in blue now said rejected saying that the house i have no right to land claims in the area. security forces have been deployed also back then they have restricted movement. local authorities have imposed curfew in those 3 localities where violence have broken out. but as of today, the market in blue now state in the capital of blue. now state m as in has been shut. there are reports of a village as being burned due to the violence and again, displacement because of the violent security forces. i have been deployed, but the violence and the tension still continue despite the fact that it's been weeks or months rather, since the start of the violence and no resolution has been carried out so far. to end the fire fighting between the 2 sid

. >>> bank earnings kick off friday jpmorgan, wells fargo, citigroup and morgan stanley worse than the overall s&p 500 and as for earnings expectations, morgan stanley's bank analyst says strap in for a rocky ride joining us now, the analyst behind that report it's good to talk to you don't hear from you that often so what do you mean? roc rocky ride what are these earnings going to look like? >> thanks, sara. happy to be on the show. appreciate it. the reason for that title has to do that there will be pushes and pulls in the earnings. on the positive side, we have net interest income improving because of rate hikes. but on the other hand, we have pressure in fees we have pressure in expenses and we have pressure in credit quality. not really aggressive at this stage, but we do see pressure in credit quality building and we think we'll start hearing about that this quarter. >> clearly, the market's been worried about the turn in the credit cycle my question is how much of that bad news stuff is already in the valuation? >> right so on the consumer finance side of the stocks that i cover, it's mor

p 500. jp morgan saying that if we have a too hot cpi, when it comes to the u.s. stocks. haidi: a lot of headwind facing investors but they the asx 200 opening low today, we are entering a do wait and see mode. in terms of the set up vote, we are keeping an eye on what we heard from the rba assistant governor. he was speaking about where he sees the neutral interest rate being around 2.5%. that is adding to the level of more an aide than a goal for them to be achieving. we are seeing the reaction of the bonds this morning they shorter duration shorter than what you said -- this morning. the shorter duration. policy is stimulating the economy. we see it coming through in the housing market. we have seen property prices in the most popular city, sydney, dropping eight straight months. it is an indication that rba policy has been having an impact on the economy. the conversation we had from earlier this week, it is time to ease the policy and push forward. shery: it led to investors being more careful about the rate hike path, if there was any doubt, the cleveland fed presid

morgan stanley this morning says s&p 500, that includes the big tech stocks that could help lead the we could go up to 4150 and get 6% upside and that's because morgan stanley chief strategy has a lot of confidence in the bear market and he says that it looks like we're closer to the end of fed tightening and that's to the last one will come, last tightening in december and first one in the first quarter of 202. stu: i want to re-fur -- 2023. stu: i led the whole show with this in the tom of the hour, thousands of workers seen fleeing china. susan: the video of the group caught fleeing the largest iphone compilation center in china. they're denying a mass escape and said production is stable in their view. that's why wall street is trying to figure out who is right here and who to believe. i spoke to apple ceo tim cook and asked about china and he said there's no china covid impacts on production or even silicon access, which are the parts they need to bill those iphone -- build the iphones in the quarterly reports or earnings. stu: we had a report this morning i read on roisters tha

amd on semi, nvidia, intel, four of the top ten worst performing stocks in the s&p this morning morganreport said pc channel is seeing no relief and amd came in and sort of ratified that. we'll see what it means for dell and best buy and h and intel and the other names that are highly exposed to that space. >> that's right. leading indicator. i think back to the conversation around micron last week, right, and this whole idea of inventory buildup. samsung as well. quarterly operating profit dropping 32% it does seem like the one bright spot, at least in the last 24 hours for seminews has been tmc. we'll see. maybe, david, part of that bigger macro discussion we've had about the shift to services from goods, as we've seen some of those inventory channels begin to fill back up. >> yeah. data centers and gaming is still strong why it should be a surprise necessarily or, again, back to the idea that somehow the pandemic was creating a new normal and that everybody needed as many pcs as you could possibly imagine, seems a bit less clear now as to why that was a belief but it's reversing its

but did post a 43% drop in profit other financial names on the s&p 500 like bank of america, morgan stanleyarles schwab moving up in sympathy, but it's not the case for ally financial. its cfo is stepping down and morgan stanley cutting its price target for the company to $34 a share down from $39. home builder sentiment in single family homes fell sharply in october. higher rates are to blame, but the 30-year mortgage dipped slightly today, and that's helping names like lennar and kb home, up over 2% are you thinking of that vacation because i am? travel names trending higher, especially the cruise lines like royal caribbean, norwegian norwegian up 9%. there was a bullish note from bank of america yesterday talking about consumer spending and how it was up 10% year over year in september and early october, which bodes well for the consumer facing travel sector and lastly, biotech and pharma names like moderna, noev avax pulling back after recent outperformance the bounce in skepticism pretty high trust is the word of the day today, tyler >> are you going to trust this rally or not i oztrus

p. 's was a rebellion going on, wanted to vote against the government. and apparently jacob reese, morgan, business minister, and theresa coffee, who is the hell secretary and the deputy prime minister was seen physically jostling with m p's. and there was jerry shouting, pushing, shoving, jostling away, and apparently now chris bryant, the labor m, p, has as described all of this before. the house is called for an inquiry, and he says that the behavior code wasn't followed the never before. should the be book that was the bullying and harassment in the voting lobbies. so this has been a really a chaotic scene. and as a result, or we think it's as a result, we now have the resignation of the chief wit, wendy morton. it's also reported that her deputy, a chief whip, it has also resigned. so what a night off for an extraordinary day. it certainly is andrew in all of this, of course, after a bruising appearance of the prime minister at prime ministers questions earlier on in the day the opposition labor party must be rubbing their hands with delight over this must certainly yes or without do

we'll have it, dp morgan, morgan stangl -- stanley, wells fargo. the s&p swing more than 5%. it was ahead scratcher for a lot of investors but when it came down to it when i spoke with traders today, they were talking about three areas. technicals, put options, and short covering. talking about technicals, at one time it a given up 50% of the post-pandemic rally. that triggered some program buying. there was a wave of put options that was bought to protect against a potential route because a lot got burned ahead of that woman got the august report in september when the s&p 500 fell on september 13. also have to mention this, citigroup flagged how there was a large trader at 11 a.m. the suggested there were portfolio level short coverings. >> does this really open the gates wide for the direction of the u.s. dollar? most analysts are now saying there is no way the fed could go less than 75 basis points and we could be in for another cycle of higher price pressures going into the end of the year. >> the dollar strength that is tied into the federal reserve and how they are aggr

jp morgan says we are likely to see a 35 basis point hike from the fed and -- 75 basis points hike for the fed and a hawkish press conference. the s&ps testing the 50 month moving average, a significant support level that is been in place since the financial crisis. only has been crossed a handful times. will we see further downward pressure? jp morgan says the outcome is most likely come it is also being guided in the bond markets. given that they do not expect it moves from yields following the decision. they expect the s&p 500 to drop as much as 1% or moving .5 percent higher, it is fairly range bound. >> what about expectations of the post rba decision today? >> this is most likely to appear in the bond space, i will get to widen just a moment. talking about what bank of america is seeing, they expect the rba to stick to the 25 basis point hiking rate, taking the key to 2.58%. they said he cannot rule out the 50 basis point hike, with third-quarter inflation coming in hot. just on limiting risk to growth, that is why they are making the case for slower hikes, in terms of micro--- market reaction a change is most likely to come t

p and nasdaq. joining us morgan stanley cia lisa and barry bannister good morning to you both lisa, i'll start withen -- we've been talking about it all week, the poll between earnings coming out and the bond market, as we've seen rates in tarl in the last couple of days, the ten-year yield move to new multi-year highs how are you assessing the landscape right now? and do you think rates are near peak >> look, i'm not, you know, a pure rate strategist but i know morgan stanley's matt hornbak does think we're at a place on the long end where there's genuine value emerging and i think that when you think about the assemetry of risk, bond markets down 20%, the fact you can get coupons at 4%, 4.5% now in the bond market with this asymmetric risk meaning that if rates go down from here, you know, you get 4% coupon plus capital appreciation that looks like a much better bet than stocks. the reason i say that is to your point, we continue to be concerned that earnings estimates have not really fully capitulated to this reality. it's wild. you know, the ceos in conference board surveys are, in other survey

p ended up 6% yesterday. holding up above the 200 week moving average on monday. a key technical level for some. wilson at morganey says there could be a bear market rally up to 13%. technology gaining 1.3 percent. construction materials also up by 1%. real estate down 0.5 percent. continuing to watch what is happening in china. a party congress and further pressure on the real estate actor. what that means for the demand for basic resources. francine: here is laura wright. alice: credit suisse is considering a sale of its u.s. mass -- u.s. asset management business. according to sources familiar with the matter, the swiss recently began the process to sell u.s. operations. we are told the division is likely to attract interest from private equity firms. bank of america shares jumped after the bank reported third-quarter results with a trading revenues holding firm. the bank also delivered strong net interest income. an increase of 24%. brian moynihan says the consumer is remaining resilient. >> the credit quality and the credit quality of think of america is strong across the board. the delinquencies are lower

with the real hot hand on wall street recently of morgan stanley he actually has come out maybe, we'll get a bear market bounce that could lift the s&p00 to 4150. this would coincide with seasonality. we talked about this a lot on the show. this is the typical year in the blue line. we're already kind of diverging f we start to turn here it could be pretty good although mike wilson said 4150. i don't know if we get to 5000 by the end of the year. the big wild card how far central bankers will go. no one really knows. look what their task is, folks. talk about all central banks combined. they did $14 trillion. you have fiscal stimulus from different nations that was 21 trillion. united states, $13.5 trillion since the pandemic, 59% of gdp. how do you really wind something like that down? that is the dilemma we're in. start the show, bring in kaltbaum capital management president, gary kaltbaum. gary, i know you're a price guy but you're paying close attention to all the different nuances right? i know it is not scientific but does it feel like the market is oversold and maybe this could be the beginning of a tradeable bounce? >> well,

p 500 in the green today. we will see of the momentum can continue over the next couple of weeks. haidi: jp morgan is writing, when you hear from one of the more vocal polls, for the index is now in danger, what do we make of this? >> 4800 price target on the s&p 500, they did cautioned that he worried that the s&p 500 may not close at that level by year end. with the war in ukraine and the issues going on with russia and gas prices, as well as what is happening in the federal reserve and the latest shakeout that was happening in the u.k. last week. he did not lower his target, he has a $4800 price target. one of wall street's most vocal bears. there is a much lower price target below 4000 on the s&p 500. there are indications they are looking at their indicator while it is -- where it is pointing to being a bible as a cell -- buy v s a sell. shery: the expectation for another 50 basis point hike, what is happening there? >> the bank of new zealand seems a bit more settled. seeing 50 basis points in november as well. unlike australia, the path of tightening seems to be a bit more certain. we see t

we've got the s&p down 73 the russel is losing 38 or 2.25 %. look at the banks here morgan stanley suffering its worst day since june after third quarter profits missed. we do have it down nearly 5% at the moment to $75.43. you see jpmorgan and wells fargo higher by two-3% a piece here. the real strength for morgan and that be investment banking has steadily worsened this year, so that's the problem with morgan but remember, jpmorgan and wells fargo beat their profits did drop from the year ago period. why are the banks not capturing what should be the crest of a wave courtesy of higher interest rates to charge more on their loans? we have rbc top banking analyst gerard cassidy coming up but first let's show you rates. bond land is showing serious bend here folks the 10 year treasury yield look at this up six basis points at 4% right now if it closes here that be the first close above 4% in 14 years. flip it over to the two year. two year yield this is the shorter dated duration here two year yield hit 4.5% right there right now that is a fresh 15 year high and by the way,

p. 's backing him. but johnson's backers insist that he has enough to run the senior cabinet member penny morgan has declared that she's running, but it's unclear if she has enough support then to the race. i'm not sharing my campus today. so with the, with the others. i am very confident about the progress we're making and i will say to you that i am in this to win it. i think it's important for our policy. we have a contest. i am very confident about on numbers, and it's the reason why i'm doing this is because i think i am best place to bring the party together. aren't stephanie decker joins us now. live from london at steph marathon day for you. as everything is falling into place, hour by hour. we have 24 hours now before the 1st. the 1st really important deadline to gather enough support to be of an official candidate. yes, i think everyone's kind of waiting. what bar is johnson is going to do? i mean, he's back to being the center of attention, which is something that mr. johnson does like. but of course, this is a country in crisis with a very severe economic crisis that needs to be dealt with immedi

morgan. but only she has formerly lloyd set campaign and each needs the support of $100.00 m. p. 's to enter the race. 60 less trust maurice reports from london. not long after the last leadership contest ended. bet so now being taken on, he will fill the old new prime minister's shoes in the frame to replace liz trust. he resigned after just 6 weeks. is former chancellor richie sooner leader of the commons, penny, mordant, and a certain, boris johnson. i think it's pretty chaotic. i think the conservatives ah more interested in their own personal gain than they are in boss, right. the country, they're st. vice johnson's gonna renegade. it is the looks of it silly. did it at our veins. everyone st. bring boris back on night. you know, speak to every one you see on the news. bring boy respect. so let's bring it back. the man who resigned in july, after, at one scandal to many, is now gathering support for pushed to re gain. number 10, johnson is still being investigated on accusations he liked to parliament about parties. he attended during cove at 19 locked down. so if he does ru

balloons function, lots of continue to will for one, morgan, toe and shooting and get them on, you know, the choice to see the new username and e p i t c h a h s, you actually get a minute of think, i will get a minute those now, but those in the promotion is good money in those new 1000000 dollar, christie. i don't know, but i sure sure we're going to print out a little from the procedure. you know, when you can use the 1st of the, what am i going to and you can use it for good one. you you to no problem luba. when you start doing the loop was you, you'll get money when you're in 947, ex president. of the united states, herbert hoover, it west germany and roads. there is the illusion that the new germany can be reduced to a pastoral state. it cannot be done unless we exterminate or move $25000000.00 people out of it. it can, i mean just go chest at the atlanta now i could them the show us was just better luck. most of these teachers know remind me because i go home their college to visit. i both know or should. sure. thank you. michael abuto dog, achieve in the store are good only and must not order nice show. much more is we th

morgan stanley, that could change. we are talking about the technical picture, the s&p 500 just below its 200 week moving average.chnical basis alone, he thinks it could spur a technical rebound of about 16%, which would be remarkable, but it has two asterix. that is in the absence of an earnings capitulation and an official u.s. recession. on that point about the earnings capitulation, earnings season is ramping up. we do have goldman sachs still coming tomorrow morning. but we have about $5 trillion in market cap reporting this week, and next week, over $15 trillion reporting. so we could see that violent sideways movement really shakeup. guy: yeah. today feels sideways. earnings season continuing will be a massive catalyst. that is katie greifeld on what is happening in the markets. what is happening in westminster is we are awaiting the arrival of the chancellor of the exchequer. i was under the impression he would be speaking at 3:30 p.m. u.k. time, about now, but it looks like that will be pushed into the next hour now. as you can see they're on the left-hand side, they are sitting before asking questions.

morgan brennan and david faber. >>> we did lose some key levels, including the low -- the interday low we got on september 30 on the s&ps into the trading session. here are three big movers we're watch, starting with kla, slighting on a report that the chip tool maker will halt sales and services in china to comply with the sweeping new u.s. export controls. shares are down 2% right now barclays initiating coverage on roblox analysts saying the company's growth may be challenge the going forward as key markets already have high penetration rates. you can see those shares are down 5.5%. finally, american airlines, those shares are taking off. the carrier raising current quarter revenue forecast as well as guidance for a key metric that looks at sales and operating efficiency those shares are up almost 1%. starting to take off >> maybe taxiing we'll begin with the broader markets. the s&p losing a quarter of its value this year alone. the big question on investors minds, of course, is where is the bottom yesterday's cnbc europe julianna tatelbaum sat down with jamie dimon and asked him that exact question here's what he

the nasdaq 100, it was the best day since july the s&p 500 up more than 2.5 as long-time bear mike wilson of morgan stanley now says the index could see a bear market bounce that takes it back above 4,000. take a look at the moves in big cap tech amazon jumping more than 6%. adding almost 70 billion to its market cap today what will jeff bezos buy it's now 12% above its june lows and does today's monday surge suggest the bottom may finally be in? with stocks, we've got a lot to talk about is that your piece all right, dan? we're all on cam race, oh, sorry. >> doing one of these things all good i don't know where guy adami is in some bunker somewhere, but i'm going the start with him guy, let's play dealers choice joker's wild what was that game no whammies. i just conflated shows if you had to sort of pin down what's going on, sort of a bear market bounce, the uk may be flip-flopping with what they're doing, i doubt it was mike wilson, but maybe it was brian wilson, who knows? what would be the rationale if you had to point to one thing as to why we've got this big change in a couple of trading ses

morgan stanley's mike wilson says any rise in the dollar has a negative effect of s&p 500 earnings strongerr good in some ways and bad in others joining me now is wolfgang koester. wolfgang, this story has been playing out for a long time. the trend has been to the upside we are entering the earnings season this is when the multinational companies may start to feel the pinch. what exactly do we have to worry about as investors with the stronger dollar? >> yeah. it hits to the news of the first and bottom line. as you know, when the dollar strengthens and doing business abroad, you get less dollars back we are seeing already that in the first half of the year, u.s. corporates have lost in excess of $50 billion of revenue from foreign exchange and strength in the currencies what corporations are doing about this is they are under their headline of enterprise liquidity management, they are looking to best manage that currency risk in the environment that is a race to the top on currencies >> wolfgang, when it comes to the impact on companies, you are in a position where you get to speak with m

p. 's, which is needed to enter the race cabinet minister, penny morgan declared her candidacy on friday was a 0. stephanie decker is life for us at westminster. the stephanie, i don't think there's that much. this left is the i mean boars. johnson cut short his holiday eve, definitely running as is where she's soon neck. yes. i think reading between the lines, the fact that deborah's johnson came back early does indicate certainly at that he is very willing to get his old job. but whether that's going to be the case or not, remains to be seen. we've just in the last hour or so had the announcement from his supporters and all to being reported in the british media that he has that 100 and nomination threshold needed to present himself as a candidate. and they immediately, there was a bit of a backlash by other members and by media saying, well, there's only around 50 conservative and peas, who publicly gone on the record to support him. the rest remained a mystery, so some people going back and forth at this could be a political play. it's all up in the air at the moment. certainly when

p 500 index financial index. analysts say fixed income is all the more important for jp morgan with fees down. morgan ceo jamie dimon morning of recession and ipo's and mergers are down and asian banks have been in the lead in that sector this year. haidi: bloomberg's su keenan. next, china's 20th party congress begins on sunday. president xi jinping is expected to get a third term. dude blanchette -- you'd -- jude blanchette joins us next. ♪ >> i think a longer-term picture in china is still bright. because i know the people in the culture and i think it is good, but they have ager issues. >> we do not seek a cold war. we do not ask any nation to choose between the united states and any other partner. but the united states will be unabashedly promoting our vision of a free, open, secure and prosperous world. >> this is not a time to create fresh ruptures, fresh cold wars, which means the united states and china. >> we have our scenario planning, we also there is no increasing conflict on taiwan. >> despite all that geopolitical things that are going, it is still a very attractive market. >> a

morgan stanley. andrew: it is good to be here with you. we think the s&p00 and other risk markets in the short term can trade higher. this is the view of my colleague michael wilson. i think he had a well-timed call last monday that the s&p can trade up towards 4100. some of the more technical indicators we follow are showing a favorable oversold condition and some healing of key metrics. in the short-term we think we could get some relief. the fact that earnings season has been relatively strong is also helpful. big picture, i do not think this changes it, we still view this as a bear market rally rather than the start of a larger -- scarlet: we are oversold and undervalued but still in the throes of a deep bear market. where would we likely see the value traps? andrew: i do think a market like china is challenging. it is a market that is very inexpensive on a lot of valuation measures. it clearly has major macro economic uncertainty and the evaluation rubric has been unhelpful so far this year. it has been an inexpensive market all year and continues to

morgan stanley. >>> welcome back earnings season kicking in high gear with more than 150 s&p companies.set to report as you see from the calendar. for more on what to watch this week, let's bring in jeff kilburg. he is a cnbc contributor and head of kkm. jeff, a lot of huge results about what the economy looks like and will look like. what is top of mind this week besides large cap tech >> dom, you are right. this is a super bowl week. next week we have the fed meeting. this is an important week to get the understanding of what we are seeing certainly the bar has been lowered for q3 earnings. we are expecting to get a better global insight look at caterpillar and boeing we want to get a better understanding. we have a lot of headwinds a lot of news from china with new additional lockdowns earnings give us a better understanding of what the forward guidance and the strike of the dollar has done and realize the damage it has done to our economy >> okay. if that is the case, there are a number of reports that could tell us something about what it will be like bellwether type names. what is

house of commons, penny morgan has officially entered the fray to become the new prime minister. former chancellor richie soon act reportedly has the backing of more than 50 m. p. 's so far and former prime minister boy johnson, for his part is also gathering supporters. and the us says military trainers from iran are in crimea helping russian troops use iranian, made drones to attack ukraine. washington believe the rain, drones hit the capital key as well as energy facilities across the country. pakistan's election commission has disqualified former prime minister iran con, from running for office. the commission says con is guilty of unlawfully selling state gifts received from foreign leaders and dignitaries. cons ave says that they will appeal to challenge the ruling. the case against the former prime minister was filed in august. as long as parliament has voted to limit the powers of the president, the power to appoint officials, including judges, and police, will now lie with a constitutional court. it follows protest over shall long because, worst economic and political crisis in decades. and steve been in the prominent ally of former us president donal

if the market starts to trade off again at the s&p breaks down at 3650 on the downside, are we bearish again? guy: that is mike wilson from morgannley earlier on bloomberg surveillance. he is talking about potentially the end of the bear market in the first quarter of next year. that's kind of the central case right now. our question of the day is about bad news and bad earnings, good news for the fed? do you think q1 next year is when the market bottoms out? >> i don't think it will be the beginning of next year. we have to get through a difficult fourth-quarter earnings season so we will get that early next year i think we will see the fallout from weaker earnings, capex growth and that should play out through the first half of the year. i think that will likely be realized at some went in the first half of the year but i wouldn't call it an early first trade where we see the bottoming out. alix: do you think the fed looks at these earnings numbers and is this what they want to see, the rolling over of the high-growth names? >> i don't think they are pouring over the reports but they look out of the market is trading. ultimate

morgan kicking things off for you. this morning, we are lower by about 4/10 of 1% on the s&p 500.er by three basis points. equities obsession lows. very familiar. elsewhere in the market, euro-dollar, to tens of 1%. the euro shoving justin that if strength. wti, we are down by 1.9%. i'm pleased to say lisa joins us now from the economic form. the next hour, we have a fantastic guest coming right out. lisa: and i would never abandon you, as much as it is gorgeous here. coming out, we have a series of incredible guest including the governor of connecticut. i really can't emphasize enough in terms of heading into this economic time, also given the fact that there have been so many people post-pandemic. how do you invest and focus on private markets and public markets? in lawrence dollar also focused -- florence golub. -- lawrence golub. where did these come from and where do they focus? bridgewater, going to be speaking with our own david westin. we are also going to be hearing from ares capital. so many conversations. as you look at the policy changes that we are going to be hearing

know, the fiscal year, it was the morgan ho, ballooning function, lots of convenience will go and change your mind, you know, the choice to see the new username and e p i t c h a t h s, she'll get a minute. i will get out of work in among those now, but you can use those in the promotions. good money in those new language. dollar, christie, are you totally rational? sure. one, we're going to print them all from a procedure to them. i know when you can use it for sure. what was going though, and you can see if you'd want to no problem, luba, we still need to loop you up and you'll get a minute when you're in 947, ex president of the united states. herbert hoover, is it west germany and roche? there is the illusion that the new germany can be reduced to a pastoral state. it cannot be done unless we exterminate or moved $25000000.00 people out of it. it can me shift to the planner and then the show us was just that's a baby like the most on the stage and get a minute because i get a new college visit. i both know or should sure, you might need some dog or even the store a good on the must. not all the new show much load is we do it. but you can also use

bear market in the first quarter of next year, and the s&p 500 could rally 6% from here before this year is done, and that's because wilson, morgannley, say that they see the end to the fed tightening cycle after one more rate hike in december. that sounds pretty positive, and meantime on the other side, you did get reports this morning concerns about china lockdowns, zero covid policy, and video being posted on social media there showing groups of workers fleeing from foxconn's main plant that compiles most of the iphones in the country, after 20,000 covid case outbreak , reuters reporting that could mean a 30% drop in iphone production there in november. now foxconn denying these reports saying that production is stable, iphone production is stable. other reports now say that foxconn is actively shifting production to other facilities across china, to buffer possibly a production loss at that specific plant. now, remember, i spoke to apple ceo tim cook last week on earnings asking him specifically about china and if apple was impacted by any of the zero covid policies and cook told me that for q 4 we had no significant impact f

i'm carl quintanilla with morgan brennan and david faber. the s&p fresh data crossing the tape let's get to rick santelli >> yes, september read on leading economic indicators. not pretty down 0.4 of 1% that's a bigger drop than expected on a month-over-month basis. outside of february, every month this year has been negative. that is unreal and history dictates this isn't pointing towards good economic activity down the road. and we also have another important release. our september release of existing home sales. and for that, we head east to diana olick. diana? >> well, rick, existing home sales in september fell 1.5% from august to a seasonally adjusted annualized rate of 4.71 million units. that's slightly better than the street expected but was the eighth straight month of sales declines these numbers are based on clo closings sharply higher mortgage rates are, of course, to blame inventory isn't helping. there were 1.25 million homes for sale at the end of september. that is down just under 1% from a year ago at the current sales pace that's

my name is morgan, and i'm an event managerr at politics & prose, and i'd like to welcome you all to pnd p live. soon i will drop a link in the chat where you can purchase a copy of [n-word] straight from the web site. you can ask our speakers a question this afternoon by clicking on the q&a box at bottom of your screen, and we will try to get to as many of those questions as we can towards the end of the program. but we apologize in advance if we don't't have the time to address your question. also there are auto captions for this event by hitting the live caption button at the bottom of your screen. let me introduce our guests for this afternoon. randall kennedy is michael r. kline professor at harvard law school where he teaches courses on c contracts, criminal law and the regulation of race relations. he is a member of the bar of the district of columbia, the american law institute and the american academy of arts and sciences. he is the author of seven books. kennedy will be in conversation with the author of the genre-bending novel long division and the essay collection, how to s

lisa:, skin you see the s&p getting to the 3200 level which is the base case for mike wilson at morgan stanley even with the constructive feel you haven't been selected names and select industries? lori: it is a great question. i understand why that number is important. when i talk to my friends they will often say 3200 is the next big battlegrounds. 3500 is your meeting recession drawdown, 27% drawdown from peak. if the market thinks the fed will not be able to pull that off and will price in something more challenging from an economic perspective, and average drawdown is about 32% in a recession going back to the 1930's and that exceeded 3200 mark. back to the pandemic we lost 34% peak to trough and i think that 3200 mark if 35 does not hold, 3200 is not the next place to go -- 3200 is the next place to go. in the pandemic when life was on the line and there was massive uncertainty, that is only as bad as the market felt. i think 3200 is a good place to look. 3500 is proving to be a major battleground. lisa: how hard is it to convince some of your clients to be constructive when ther

morgan po, ballooning function. lots of computers will, per $1000000.00 though, kill and shooting in your mind. you're not a choice to see the new username and e p i t c h a t a chest to ship your mind, look up the car will get out. it was good among those number but those in the promotions . good money, in those new dollars, christiane, you control the rational got to she? sure. one we're going to print out a little from the procedure. you know, when you can use it for sure the, what am i going to, and you can literally put one you no problem, luba. what we started. do you need to loop you up and you'll get a minute with tanya. and 947, ex president. of the united states, herbert hoover, it west germany and roads. there is the illusion that the new germany can be reduced to a pastoral state. it cannot be done unless we exterminate or moved $25000000.00 people out of it. it can, i mean just go chest at the oblong. now i'm just going to show us which is better luck. most of these things are not going to remind me because i'm going to college to visit. i both know or should show at the new model of the it's a dog i should be in the store are grown