pnc have over 10% reserves put aside to loans. >> pnc reporting before the opening bell today. before we let you go, anton, i want to talk about the two big banks and get insight on a read through of the banks reporting. jpmorgan and wells fargo since friday. jp up 4%. wells fargo up 8%. that's despite their net interest income reporting not being ideal. i'm looking at wells fargo, they lowered net interest income guidance. jpmorgan went on to say the third quarter out performance was a blip. are we possibly over indexing net interest income when we look at the banks? i look at jpmorgan with the investment banking exceeding and that's the reason why the stock is moving higher? >> the interesting thing is both of those are stories. they're good stories. wells fargo may have the cap lifted on assets. that's really important for future growth. people are looking at that. the earnings estimates came in better than expected although they lowered guidance. a lot of people were short both of those stocks. clearly, jpmorgan has, you know, under fpromised and over delivered. those two c

>> w to her royofcial event sinceothg her husba pnc families of the horrif ko thanking first responds thks forave a good kool and the h b do you get in k and roll hall rock n ro h waitie i'm gonna get charged. mict them. see a bank r so, you don't like gnomes hu hat one? that one i like. mict a lot.see a bank r spsible for tho attacks. good evening. i'mnks f. wildlife officials tell usmato t they had no it down. dnonnected it to a >> abc seven newshe update frome ha for killing multiple francisco. they believe it also people. in a statement, they say, quote, parl recreation area and the presidio trust the park's natural resources provide for public recreation. however, where serious conflict exists between peopl all must t. on thengf sunday, t crissyfi to alert potential national park see the east beach area, think that they ,ld you know sition forceful languao dog gro. >> month,ty. se owners relieved they steithg>> b alwaye others, l'tant to it's a goode d their pet she vey livestock, any anil idea of ther she officialskiingplattempts to stopers johns, alue angels soared thof we had

pete had a major political impact in the middle east through his work in the pnc and in the west as a high profile champion of the palestinian cause. his writing has been translated into 26 languages. his last wish was to be buried in the birthplace of his mother to be as close as possible to upon his time the place he'd felt excellent from all his life that it close to him to live and doing out of place. he said, if i die before you my will, is the impossible. i ask is the impossible far off. he said a generation away. i asked. and if i died before you he said i shall pay my condolences to mount galilee the palestine. this once of very different place for today, most of cities became connected to the interior in an award winning film, which is 0. well, his historians and i would use accounts that portray early 20th century by this time as a thriving fibers. richard was fulton investments were excess, moving from one city to another, kind of stein 1920 on al jazeera, the hello. there has been a large required. we can for much of north america, especially well the southeastern states.

the other is pnc owns about 10% of the shares.if they ever decide to liquefy some of that, sell some of that, they have plans to expand further. this is a hidden asset in pnc most people never think about. that is another overhaing to a company like this. i read flag them as stocks to avoid because you would expect them to lag the market, not leave the market >> i don't know. if it weren't 82%, herb, i would be looking to go, gee, everything seems like a decent business modelle i don't know. >> insurance companies are printing money they take your money but don't pay you money. that's a great model snoop as it gross, the growth slows as a result of being tied to that one kmern. the same algorithms that pushed it up are going to push it down. >> if you wanted to make this a conversation about whether the price hikes and insurance are likely behind us i agree with you well, there's no way we can go up much. the consumer pushback, you know, the regulatory pushback, don't you think we had to have seen an 80% move already >> you starte

pnc hasn't gotten to the all-time new high just above 200. i think pnc has room to run. first horizon, another stock with a tremendous run-up this year, up about 20%, just reported solid earnings, broke above $16, $17. the all-time high high is 24, 25, so i think the path is set from a risk/reward point of view. my favorite, m & t bank. they're based in buffalo, major breakout in m & t. a pull back to 180 should be your new floor. i see you have the chart there. thank you very much. these are stocks you want to own. they churn for a long way. what we have now are takewinds. there's going to be more letting. look for more m&a activity to pick up after the election. mortgage rates have stabilized. but this is all the fuel needed for these regional banks to finally catch up to the big brothers in the major banks. there's the big bank versus the smaller banks jay, thank you very much. we'll see you soon, sir. >> thank you. >>> serat, let's talk about a portfolio manager's perspective v. an analyst perspective. do you like the regional banks versus the big brothers? >> i pref

for nearly 160 years, pnc bank has been brilliantly boring so you can be happily fulfilled... which is you think about it. katie: welcome back to "bloomberg markets." wall street is printing new etf set a faster pace than just a few months ago. amateurs are now plunging into the complicated world that promises huge payouts and regulators are urging caution. the big take today here, for more i'm pleased to say that we are joined by some of the reporters behind the story. we covered these all the time in terms of the performance and the flows, but talk to us about the social media aspect of this all. >> is very important for this boom. deal max will have more on the product but if you zoom out on the community, there are hundreds of thousands of people gathering every day to discuss the best fee, what's good for your portfolio, so we decided to look at the numbers more broadly and they are staggering. we had to keep looking at the data every day, filings kept coming in. it's a record number of etf's this year. if you look at the a um it's growing so fast. five years ago it was 50 billion

. >> we asked you for a bank name you do like and you gave us pnc. big regional looked to as the barometer and we're showing big banks there and what would you do with both of these trades? >> thanks, kelly. i'm enjoying the superstar lunch because the team is nailing some of the thesis. we like regional banks and the space also because pnc has nasa management business in capital marks. they've got a good long-term trend and stable earnings growth above average relative to sector and dividend both and strong balance sheet and the reason we like banks that are about the report and they're not the local banks and they'll benefit from the loan base being more variable in nature and as rates come down that will perk up and lead to more activity for them. they've seen strong income fee off the market operations which should help them meet their guidance and we'll find out next tuesday to see how that's going to look and they're also investing in their card business to increase penetration in the consumer business there, as well. so we look for very well d

pete had a major political impact in the middle east through his work in the pnc and in the west as a high profile champion of the palestinian cause. his writing has been translated into 26 languages. his last wish was to be buried in the oven on the birthplace of his mother to be as close as possible to palestine. the place he'd felt excellent from all his life that it close to him to live and doing out of place. he said, if i die before you, my will, is the impossible. i ask is the impossible far off. he said, a generation away. i asked. and if i die before you, he said, i shall pay my condolences to mount gallery, the the, the hello someplace the cyber got quite to weather now moving across that eastern side of the u. s. law successful and find high pressure back in john. so there's a long cold from here, bit of writing on that which will gradually make its way into the eastern seaboard . so it is an improving picture, but it will take a little bit of time just yet, but you can see lots you drive as we go on into with us, the tools i west the side of canada. so what's the weather j

off because it's smart, dependable, and steady all words you want from your bank for nearly 160 years pnc bank thank has been brilliantly boring. >> so you can be happy with fulfill just pretty and boring if you think about it unit scott's turf grass, it goes glass two times faster under see the loan given you a stronger laws, male breeder way the apple store, android and m. taylor.com nobody got news for you next saturday at nine on cnn blows captioning is brought to you by page publishing. if you've written a book, will publish it for you. >> if you've written a book page publishing can help you through the process. we cut through the confusion of the publishing world to make it easy for you call 800 hundred 56307 for one >> it's time now for the findall meta will fire up the offender meter. it seems out to tell us who's the offender, what they did and who they offended. here we go. >> but that's that's bill clinton, robert clinton. >> who did he offend or let's do we go back? no, let's just stick to this week. let's stick to the week that was i can think of two two things that he was i

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but the pncs and the truist. >> my top pick is the nonregional regional bank pnc.out it is the money centers have really been the leader in terms of this bank outperformance for the year. some of the regulatory three fears were softened by, you know, the regulators themselves in terms of the messaging. the regional banks had a devastating year in 2023 but as i think about, you know, where small rate cuts can make a difference. small rate cuts will make a difference to businesses and to commercial real estate. i think now is the time to be, you know, accumulating shares of regional banks. nonmoney center banks if you will that will be long term wipers that have capital. >> is the election a risk to that view? >> the election could be at a little bit of risk in terms of the short term reaction. i think regardless of who wins in november, if we have higher for longer that means the curve is probably flat. if the curve is flat then the bank earnings power isn't that great for next year. in my opinion that's going to likely encourage consolidation. and pnc could be the

i will send that on. pnc has moved from cali, it's called the song of the cedars and includes the sounds of holler monkeys, baths and birds recorded in the cloud forests in ecuador and west created by musician cosmo sheldrake hung guy specialist juliana from ccci . right, or rather makes her lane and legal scholar says that for the it's gotta be to but they believe the forest itself should be credited as a co author. it was written with the forest because the phones of the song, a sounds recorded sounds that were made by the people that live in the park. and it was so it was also written in the forest because the humans that with visiting the forest roads and sign the words that are in the song. so this some wouldn't have been made without the forest. and it wouldn't have been made if we weren't in the forests before as things where soon called. let's say that those was given legal personhood in 2021. they ask whether it's constitutional court when it ended mining permits in the reserves that ruling gave the force right similar to human rights. now the more than human life project, the m

for nearly 160 years, pnc bank has been brilliantly boring so you can be happily fulfilled... which ising if you think about it. >>> let me read from your peace. there on mistake double reminders of the distractive trail and it has broken my heart to watch my dad become one of them. not to disregard accountability but it would be naove to ignore the fact that many of those closest to trump descended into catastrophic spirals. if we let him back into the driver's seat, the country will be nolex epson. what do you think that will lead people to think they will be different. jim, had been fired and left out. he shared some of your dad's skill set. what you think makes people think when it comes to trump you will be treated differently. >> the important thing, i don't know if they think about that. the important thing is to remember that trump is the only one that even needed accountability for actions and the only way to hold him accountable is to make sure he doesn't become president again. if he becomes the president, he will never face consequences for the actions. in fact he will have

for nearly 160 years, pnc bank has been brilliantly boring so you can be happily fulfilled... which istty un-boring if you think about it. ed: jared isaacman, mission control for palris dawn. >> i leave that to the experts at spacex and e line to determine the timeline. we will fly it as soon as it's ready. there's a lot we can do with dragon. that's why the first two missions were designed for dragon. ed: we want to help our audience around the world understand what's really happening inside spacex. explain what it's like working with the engineers and how important you feel this is not just to an industry but as you put it, humankind's future outside earth atmosphere. >> awesome question. spacex is extraordinary. since i was 16, i have been in the business and have worked with thousands of companies across verticals including defense aerospace. i was ceo of a defense aerospace company for 12 years. i have never seen an organization like spacex. a lot of companies have a vision statement that no one cares about. 14,000 people who show up for every day work at spacex believe there is n

for nearly 160 years, pnc bank has been brilliantly boring so you can be happily fulfilled... which is-boring if you think about it. ed: -- caroline: quora has rolled out the new device. this is competition is heating up. samsung debuted its own galaxy ring. the ceo joins us. tom: the thing about the oura 4 is it is sleeker and better. more importantly, we have taken a big leap forward in something we call smart sensing. smart sensing adjusts dynamically to her body. not everything is the same. your physiology is not the same. we adjusted dynamically. even as you rotate the ring we are able to the most accurate signal. ed: who do you consider to be the competition for this ring? is it other rings or other form factors? i think about watches, particular having just been at apple's event. tom: what is interesting to me is amongst our users almost two thirds were a second wearable, usually a smartwatch. smartwatch is great for daytime notifications but it has an achilles heel which is battery life. the ring does not ask for your attention, does not send you notifications, it is just in th

from your perspective, are you seeing better-than-expected performance the likes of pnc and u.s.g what a different scenario we are in right now? >> we did see better-than-expected numbers for both those banks as you pointed out, and a slew of regional bank report over the next two or three days and into next week. we do expect to see a continued better-than-expected performance, and the real key is going to come at the fed continues to lower short-term interest rates. as you know, funding costs are going to come down. funding costs went up meaningfully as rates went from zero to 25 basis oyster over 500 basis from the beginning of 2022 through the middle of 2023. asset yields will come down, but not as fast as funding costs, so the regional banks which rely on that interest income to a greater extent than the diversified banks should do quite well in this environment over the next 12 months. jonathan: shouldn't that also benefit bank of america, and i'm going to raise a very dangerous question. what is warren buffett actually up to in an environment that the stock should do well

for nearly 160 years, pnc bank has been brilliantly boring so you can be happily fulfilled... which is pretty un-boring if you think about it. your best defense against erosion and cavities is strong enamel. nothing beats it. i recommend pronamel active shield because it actively shields the enamel to defend against erosion and cavities. i think that this product is a gamechanger for my patients. try pronamel mouthwash. >>> turn up the volume for this one boys and girls, we are still falling special counsel jack smith's explosive new filing in the election interference case against trump. the 165 page brief includes brand-new allegations about the former president's quote, increasingly desperate efforts to overturn the election. my colleague ken delaney has the details . >> my, special counsel jack smith, fighting to keep the january 6th case against donald trump alive. in a new filing with new evidence, smith, tailoring his criminal case to survive the supreme court's ruling that presidents can't be prosecuted for carrying out of flicks official act. writing, although trump was presid

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form bank of america, goldman sachs, citi, pnc. very crowded. schwab's in there. do you look at the financials whiched today aren't going gang buster, but do you like at -- look at hose and say, bio -- boy, the rest of them are going to to look pretty as well? >> yeah, i think they are a good indicator of what's going on out there in the financial sec to for in this new interest rate environment we're in. what i think we need to look forward to is m&a activity, which is a huge moneymaker for these investment banks,, has been very quiet. we go back two, three years about all these smaller incubus companies that are waiting to to come public and waiting for the right time. from a markets perspective, it's probably the right time the way the market has been performing. in an overall kind of global perspective, not the right time, right? we don't know what's going to to happen with the election, these other headwinds that's there. so i think in the beginning of 2025 the we're going to the start seeing m&a activity the pick up, and that's certainly going to help the fi

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p and c -- pnc, many consider this probably the best run large bank out there, and you like it as well exactly. that's a great point. the well-run bank. they're going to benefit, banks in the general should benefit from lower rates and a steepening yield curve since they basically are bringing in their assets and lending long. so, you know, a yield curve which has been inverted now over a record two-ps years starts to steepen and drop on the front end, the banking sector should do very well. charles: in the interest of time, i want to move to your technology ideas because you've got a couple natures on there. -- names on there. ibm if's been coming on as a quasi-a.i. play. they're catching up. they've been way behind and, of course, broad comecom, they're -- broadcom, they're getting a little hammered today to. why do you like these at this particular moment? >> ibmshowed up as a neglected stock on our screen ises a couple of months ago. and if you think about it, i've been in business for a long time, when i first got into this business over 35 years ago, ibm was the big main mainfram

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to teaching the history of the civil rights movement for the past 21 years in partnership with the pnc foundation. he is a frequent lecturer on commemorative practices, public memory related to the civil rights movement. alex is the author of which is of america, which was a new york times mobile book of 2015. wired the new york times book review, the guardian, among many other outlets as best magazine writing. she was a finalist in 2018, also director of the future life documentary american mystic, she lives in the hudson valley and new york city. the book is titled 70w7, a true story of murder and mercy. author sierra kane roots, quote, it's a devastating and essential book in the construction of social fears, calculations on the death penalty in america. brilliant and empathetic narrator, she is unafraid of rendering our narratives about justice less comforting. it's an honor to host alex and todd this evening. please welcome to the stage alex and todd. bookstore this . there's so much here that i was tempted to sneak away into the stacks before the reading ran out of time. it's als

start off because it's smart dependable then all words you want from your bank for nearly 160 years, pnc bank has been brilliantly boring. so you can be happily to fill which is pretty unborn if you think about it bill for all the things you've yet to do like taking a long drive just to throw a monster tailgate party. >> that a new way again brisket, anyone >> the new key, a carnival turbot hybrid here movement that inspires today. >> let's paint with their america's most trusted date, bryan, we don't have very well with bare you can pay the whole room for under $100. how much did you spend more? >> i thought you said your research this don't ever pay for your next project, get better quality and an everyday low price only at the home depot, i have active psoriatic arthritis, but with sky resy to treat my skin and joints, count me in along with clearer skin sky resy helps me move with less joy he pain, stiffness, swelling, and pretty and it's just four doses a year after to starter doses, serious allergic reactions and an increased risk of infections or lower ability to fight the may occ

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pnc financial service asset management group c cio amanda aa got i.ying that now is not the time. there's been a lot of speculation, a lot of folks have jumped in bonds thinking that the bottom was put in, and i don't know that anyone had anticipated the kind of spike in yields we've seen post fed rate cut. what are you looking for before you say, hey, the coast is clear? >> well, it's great to be with you. thanks so much for having me back. yeah, it has been really interesting how much the 10-year has moved, basically in the polar opposite direction from where the fed had lowered policy rates. and we really think it's a reflection of the bond market saying, hey, houston, we might have a problem here as it relates to deficit spending and debt levels. it might be the first time maybe ever where the market is actually reflecting concern around deficits and debt levels. the equity market is like a kid in a candy store, and it's halloween, so i'm going to say the equity market thinks deficit spending is a treat. very happy, craving the sugar high for more

if we feel strongly about pnc, we feel strongly about huntington.what the fed does the net interest income path, their fate is in their own hands for various reasons, and also not scared about any sort of shoes to drop in terms of credit quality. charles: i do consider you the best bank analyst on the street so i appreciate when you come. >> thank you. flatter me always. charles: thanks a lot. folks, you must be sympathetic to an a it's hads these days. think about all of the things they have to deal with, particularly when the so-called facts are just temporary facts, because data collection has gotten so bad particularly with the government but most of the folks on wall street, they have embraced this bad data. even though they know it's not real. >> i know this steak doesn't exist. i know when i put it in my mouth, the matrix is telling my brain that it is juicy, and delicious. after nine years, you know what i realize? ignorance is bliss. charles: [laughter] okay. let's bring in independent institute senior fellow judy shelton. so judy this is a

they get the pnc because i spray the pam the last time they were here, they said they helped fix it last spring and i did their best, the monthly stuff i can put on it. and they said, if this does not work, she's gonna have to get an a unit for we can fix the gaps and the door because there's the turf lights and the wall when he left it there out some of the wall just to fix the door. it's just, you know, you try to fix one problem and here's another problem behind it. that's even bigger that you would have to fix just to fix a small problem in the posters on the walls. i'm really covering of holes because have health inspectors come through and no rush. first thing the input shut down when you're in then cd like this might help us better should than they come to little area and like this. probably nobody's gonna shut down the only doctors office, you know, when the county, nobody's gonna shut it down. let me explain little that clay county. we're one of the poorest counties in georgia. we're not talking about kind of what we're talking about this being extremely poor . community quite c

because it's smart, dependable, and steady all words you want from your bank for nearly 160 years, pnc bank thank has been brilliantly boring so you can be happily fulfill which is pretty and boring if you think about it sex life. >> so he came to us rose sparks, dual action formula, acts fast and last longer now, what do you want the heat i got the spark. we got you didn't connect with the provider at row dot cos law sparks work in progress other times it's pretty well thought out. >> the tech. florida tech ready. lexis and x the new iphone 16 pro with apple intelligence. >> wow, homes are going to be flying horizon switch to verizon and get the new iphone 16 pro and get a new ipad and apple one all on us only on verizon, a genuine, wow getting a new car. >> yeah. contemplate the same, you know, carbonic is super convenient. she at the tip, definitely a no-brainer. >> i didn't think you'd actually do it when we're same-day delivery, it's no big pete g. writes, "my tween wants a new phone. how do i not break the bank?" we gotcha, pete. xfinity mobile was designed to save you money and

because it's smart, dependable, and steady all words you want from your bank for nearly 160 years, pnc bank has been brilliantly boring. so you can be happens to fill she's pretty unvarying if you think about it immediately feels like somebody's poking directly on the nerve. >> i recommend sensitive in censored in toothpaste goes inside the tooth and calm center of down. and my patients day, you know, docket really works isabel rosales in tampa, florida. and this is cnn bay, florida where hurricane milton is set to make landfall in the next few hours. >> and we are feeling the effects of this powerful category four storm that is expected to bring a record storm surge, as well as powerful h hundred and 40 plus mile an hour winds to the region jim, this is one that was just battered by hurricane helene a couple of weeks ago, and officials throughout florida and even nationally as we heard from vice president kamala harris, is our our warning folks stay indoors and if they are in evacuation zones, they hope that they got out before this time because as the national hurricane center has ju

bank, pnc today, we have a number of them. i would say across-the-board things are solid.is point in the economic cycle, and that's good to see. because of the margin expansion we are seeing better net interest income. jonathan: help our audience understand the relationship between regionals and interest rates. we know how much it hurt them when they were going up. how much is it helping now that they are going down? herman: i would characterize it as a yo-yo effect. when the fed started instituting rate hikes thatp. last yearh the regional bank o, svb, and a handful of other regional banks failing, banks had to jack up their deposit price. that affected their net interest margins and topline. now we are in a steady state where things are starting to benefit marginally, and that has helped the top line. lisa: how much do the top performances come from interest rates going lower versus an actual improvement or ongoing strength in the underlying loans they made? herman: so, the rate cuts really happened in september. not really affecting the third quarter reported numbers. t

all words you want from your bank for nearly 160 years, pnc bank has been brilliantly boring, so you can be happily fulfilled, which is pretty boriring if you think about it what do you talk >> the news the sports a little family gossip, maybe? nah, you don't do that right. >> well, here's another topic for you. as they get older their risk of getting really sick from a respiratory virus like flu covid 19, or rsv goes up a lot. so talk to them about getting the season's vaccines because you've still got so much to talk about rivalry, but this one hits different. >> cowboys offense. they're exciting. i give them that. but the steelers defense is so powerful. you want to run home crying. sunday night football nbc and peacock maybe i'm foolish maybe i'm blind. >> thinking i can see through this and see what's behind but i'm only human. after all. i'm only human after all. don't put your hand sold for l $34, go to deal dash dot com and see how much you can save who watch joe biden will say to themselves, i want this guy as president in three years, voters have been telling democrats that

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for nearly 160 years, pnc bank has been brilliantly boring so you can be happily fulfilled... which isif you think about it. ♪♪ well would you look at that? jerry, you've got to see this. i've seen it. trust me, after 15 walks, it gets a little old. ugh. i really should be retired by now. wish i'd invested when i had the chance... to the moon! unbelievable. stop waiting. start investing. e*trade ® from morgan stanley. >>> the justice department indicating it's considering a possible breakup of google as an antitrust remedy they said they're considering behavioral and structural remedies that would prevent google from using products to advantage google search. google responded in a blog post saying this could negatively impact consumers, developers, and this is radical and sweeping. a federal judge expected to make the ruling by next summer. let's bring in gilroy, who has a neutral. good to see you gill. on the filing now where are we in the realm of likelihood regarding these kinds of remedies? >> so the doj went out there and reversed engineered why google is google and told google it

for nearly 160 years, pnc bank has been brilliantly boring so you can be happily fulfilled... which isg if you think about it. tax smart investing today, helps to build a stronger tomorrow. at pgim custom harvest, our unique direct indexing approach seeks to help investors achieve better after-tax outcomes. pgim investments. shaping tomorrow, today power e*trade's easy-to-use tools, like dynamic charting and risk-reward analysis, help make trading feel effortless. and its customizable scans with social sentiment help you find and unlock opportunities in the market. e*trade from morgan stanley >>> welcome back to "squawk on the street." i'm silvana henao with your cnbc news update. the israeli military issued a warning to residents in 20 more towns in south lebanon to evacuate immediately as it steps up its ariel and ground offensive in the country the orders cover areas located north of the united nations declared buffer zone that was set up after the israel-hezbollah war in 2006 and it could signal an expanding israeli incursion. >>> lebanon's health ministry says nine people were kil

b of a, citi, pnc, schwab, crossing the tape. >> plus, the race for number one and nvidia hits a closing record. it is now within striking distance market cap-wise of the world's most valuable company, of course that's apple. boeing shares are bouncing. the company is seeking to raise billions in equity and debt, of course, it's an effort to stabilize its finances as it deals with that strike. >>> let's get right to the banks. b of a, citi, goldman, the biggest names reporting today. by the way, do not miss our interview with b of a's chief brian moynihan in the next hour. some of these charge-offs are rather mild. >> that's funny. we talk to these guys from bank of america and it's just a consistently good quarter, and yet the stock sells at 13 times earnings. i think this is the beginning of when we start saying, either the s&p shouldn't be at 21 times earnings or the banks shouldn't be at 13 times earnings. these were really extraordinary numbers, and i think, david, you can speak to someone that almost no one else can as well. there was virtually no m&a. these companies can makethis

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for nearly 160 years, pnc bank has been brilliantly boring so you can be happily fulfilled... which istty un-boring if you think about it. let's say you're deep in a show or a game or the game. on a train, at home, at work. okay, maybe not at work. point is at xfinity. we're constantly engineering new ways to get the entertainment you love to you faster and easier than ever. that's what i do. is that love island? >>> let's turn to the growing tensions in the middle east. concerns that israel may strike iran's oil facilities, fuel and crude prices, wti turned pitch for the year after pipe offhandedly indicated the united states is, quote, discussing, unquote, a possible attack by israel joining us now is rbc global ahead of strategy, alina croft your knowledge of the region is so deep. let's start off on if the israelis do attack the oil production facilities of iran, what do you think the impact ultimately would be on oil prices, and i'm curious you're giving your experience as well, whether you think they would be successful >> i think the real question what would the israeli target?

for nearly 160 years, pnc bank has been brilliantly boring so you can be happily fulfilled... which isretty un-boring if you think about it. jonathan: equities right now on the s&p 500, negative by 0.0 6%. can't believe i'm saying this this morning, q4. where did q4 come from in 2024? lisa: we have been through 25 narratives between now and q4, 25 different election cycles, 27 different geopolitical threats, and now here we are, staring down the barrel of the most volatile month, shellshocked over what could happen next. jonathan: hard landing, no landing, soft landing, i'm not sure what we are getting back to, but under surveillance this morning, dockworkers go on strike. >> just today my colleagues at d.o.t. came together with 60 different players across logistics and supply chains to make sure that we are mapping everything and anything that needs to happen in terms of flexibility adjustments around road, rail, and the different ports in the united states. the best thing that could happen would be for the parties to quickly come to terms. jonathan: every major port on the u.s. east

for nearly 160 years, pnc bank has been brilliantly boring so you can be happily fulfilled... which is-boring if you think about it. (♪♪) ♪ well i was raised by careful hands ♪ ♪ yeah, they made me who i am ♪ ♪ so i'm off to see... ♪ we invent them. we design them. we build them. and one day, we have to let them soar. ♪ i'm always coming home ♪ jonathan: live from new york city this morning, good morning. i will start with the equity market on the s&p 500, just about unchanged, he syndicate of gains in yesterday's session. the bulk of this, a lot of this came from big tech. the run we have seen on a single name, nvidia, that is worth going over again. we are talking about gains of more than 10% across five days. dani: it overtook microsoft again as the second-biggest company in the world, coming at a time when people look at earnings season and there will be great to. other companies will be catching up to big tech. you can say that as much as he would like but that is not what is happening. as we price out fed cuts as the economy chugs along, people are going back to the safety of big

for nearly 160 years, pnc bank has been brilliantly boring so you can be happily fulfilled... which isbout it. lisa: here is what is coming up as we see another day of losses. more fed speak at 10:00. tomorrow we get another round of jobless claims. plus factory orders, durable goods, and ism services. friday is the main event, september payrolls. will you get 150,000, 140,000, will you not predict like chip davis? maybe going to predict is bloomberg's michael mckee. what is your number? michael: i would put it in the 150 range but only because i do not have a better gas than consensus at this point. like i have said several times it may not matter because the real number that matters is the one we get before the next fed meeting. dani: that is going to be a complicated number because of strikes, because of hurricane impacts. how should we be looking at the figures without knowledge? will it be a choose your own adventure because you can assign any narrative to it. michael: we will see with the other numbers are but the fed has said they are watching the payrolls numbers. if we get a r

driving anyway , if santos is the driving anyway, if santos is the registered keeper, if they did a pnc ricardo dos santos, well, i would, i personally would maybe wrongly assume it was a portuguese or spanish person, which he actually is. >> but yeah. >> but yeah. >> and then i would they stop stop the vehicle . well how can stop the vehicle. well how can you say in london you can't smell cannabis? i was driving round through croydon. i could actually smell the waft of it in my own car. so. and what's the behaviour of the man santos, who's said to the officers to be vile and he was rude and disrespectful . and if i think we disrespectful. and if i think we should see, i don't know if we've got the whole footage available, but the police should now release that footage to show what the officers have to deal with, because if he'd have simply got out of the car and said, officers, i'm really sorry, is there a problem ? none sorry, is there a problem? none of this. that's the reality . of this. that's the reality. none of this would have. just like pc lafford on the bus, if the woman had s

he r eless nonprofi to t the wrong experience >> w to her royofcial event sinceothg her husba pnc familiesthe horrif ko thanking first responds