we tilton is the chief economist for goldman sachs.- for goldman sachs.for goldman sachs. we are expecting them _ for goldman sachs. we are expecting them to - for goldman sachs. we are expecting them to hold - for goldman sachs. we are i expecting them to hold policy unchanged this week but it is a question, given the yen weakness you mentioned earlier in the programme and the fact that ten year interest rates have moved up to about 0.87%, currently, close to i% yield that the bank of japan put currently, close to i% yield that the bank ofjapan put in place a few months ago. there is a question about whether they might lift the further at this meeting, think it's a close call but we think they will probably hold off for a bit longer to see if rates stabilise around this level. the federal bank is meeting this week, inflation not as hot as before and gdp figures coming in quite strongly showing consumers are still spending so what is your outlook there? spending so what is your outlook there ?_ spending so what is your outlook there? , , ., ., , outlook t

goldman sachs numbers about 7:30 a.m.u are looking for morgan stanley, earnings of the big banks happen tomorrow. tom: what a shock jp morgan did well. there are concerns about bank of america, goldman sachs. jonathan: bank of america has been bullied by the treasury market. what would it take to get bank of america out of the penalty box other than a big bond market rally? lisa: from a fundamental perspective, they've been doing pretty well. we haven't seen amazing things from stocks and even jp morgan after they outperform. jonathan: they are up by about 10% and everything else is down. they are closed -- they are down close to double digits. tom: you can look at the book value. you can do it with the book value of jp morgan of 1.5 and bank of america of .8. it's trading at near half the value. before we get ready for bank of america and global wall street, wonderful thoughtful notes, i love your phrase for europe and major for the world -- nascent disinflation. that perfectly captures the uncertainty out there right no

for me, that's enough for jeffrey sachs. treat with respect, that's what jeffrey sachs said.w can we avoid armageddon. we are drifting towards disaster, and i would say that this is precisely drift. dwight esenhower gave his farewell address 62 years ago in january 1961. and even then he warned us about the power of the military-industrial complex. the military-industrial complex has taken over us foreign policy, especially since the 1990s. we sometimes call it the era of niakons. this was an era when the united states waged non-stop military campaigns, secret regime change operations. this has led us to many hot wars. a huge global insecurity. biden had just asked for another $100 billion, plus an endless stream of military spending, and i thought he sounded like the military-industrial complex. your artillery shells are manufactured in 12 states, including pennsylvania and texas. just published an article about what they expect boom. on the other hand, our foreign policy is a disaster. president biden said we are a beacon to the world. the world is completely against what t

that's what jeffrey sachs said. professor sachs, how can we avoid armageddon?isaster, and i would say that this is precisely drift. dwight esenhower gave his farewell address 62 years ago in january 1961 . and even then he warned us about the power of the military-industrial complex. the military-industrial complex has taken over us foreign policy, especially since the 1990s. we sometimes call this the niocon era. this there was an era when the united states carried out non-stop military campaigns and secret operations to change regimes. this has led us to many hot wars. huge global insecurity. and president biden just asked for another $100 billion, plus an endless stream of military spending, and i thought he sounded like a military industrial complex representative, your artillery shells are made in 12 states, including pennsylvania and texas. missile systems are manufactured in arizona. this clearly a policy led by the military-industrial complex, just published an article saying they are expecting a boom. on the other hand, our foreign policy is a disaster

goldman sachs with the buy rating of tuesday morning. it sees upside to street estimates from the back of revenue growth in certain divisions and efficiencies leading to profitability. shares up 1.5% this morning. >>> we have stifel with amazon with the buy rating and $173 price target. stifel says no other comes close to the amazon shares. shares are down in the pre-market. >>> we have a downgrade from morgan stanley on amgen. this stock is balanced following shares. >>> coming up on "worldwide exchange," we have the one word that every investor needs to know today. also a busy trading day ahead with speeches from fed officials. we have tom lee to say where he thinks stocks will take their cues from. >>> if you miss us, check us out on spotify or apple or other podcast apps. more on "wex" after this. people are excited about what ai will do for them. we're excited about what ai will do for business. introducing watsonx a platform designed to multiply output by training ai with your data. when you watsonx your business, you can build ai

what does that mean for goldman sachs? if it had jp morgan or morgan stanley multiple, that is a big gulf that they are hoping to bridge. guy: solomon's legacy rests with the sky. he gets it right, we are back to being a hero. he gets it wrong, bad things lie ahead. >> i don't know if he ever started with the hero title, but it is true, everyone knows the issues at goldman sachs, the misfire forays. five years into david solomon's tenure, hard to imagine that if he were to leave today, people would see it as a glorious run. stockton well through the pandemic. book value grew well with the further we get away from the pandemic, as that boom starts to fade, you can see book value growth has not been great. the stock has not gone anywhere the last 12 months. still $100 down from its all-time highs in october 2021. so what does solomon have to do to change the perception of his run as ceo? prove to the market that this pivot works. if you are looking at it five years from now, and it is successful, you will say this was the ch

goldman sachs post on earnings drop. we had a mixed picture when it came to the bank stock trading session and of course a lot of volatility in today's session given the soaring yields we saw in the treasury space with the slump resuming. we had the s&p 500 finishing almost unchanged. a lot of that to do with the fact that we saw strong economic data again a large jump in retail sales also solid industrial production numbers that sent the two year yield to the highest point in 17 years. we are watching the u.s. china reports as well as we heard about more restrictions when it comes to technology exports to china. so the philadelphia semiconductor index losing more than 1%. again watching very closely tensions in the middle east and that potential ground offensive from israel at any time. take a look at the nvidia stock because it was really nvidia that could potentially get hurt big time. if we see those chips made specifically for the chinese markets being restricted by the biden administration and that leading to the b

. >>> and we have goldman sachs and bank of america earnings on deck.e will talk to ceo brian moynihan at 16:00 cet today. >>> u.s. president joe biden will visit israel tomorrow. the one-day trip will see biden p meet with israeli prime minister benjamin netanyahu in tel aviv following a stop in jordan where he will meet with the king abdullah. this comes as a critical juncture in the war. antony blinken announced the latest in the war. >> the united states has developed a plan to enable humanitarian aid from organizations to reach siccivils in gaza and creating yareas to keep civilians out of harm's way. it is critical that aid flow to gaza as soon as possible. we share the concern that hamas may seize or destroy entering gaza or prevent the aid from reaching the people. if hamas blocks the assistance, including by seizing the aid itself, we'll be the first to condemn it and work to prevent it from happening again. >> ellison barber filed this report from israel. >> reporter: u.s. secretary of state antony blinken says president biden will visit israe

to goldman sachs then.his morning, topping estimates on stronger than expected bond trading. the stock is trading somewhat under pressure, down 2% today. is that just the market? is this better than expected, all things considered? what would you do here? >> they beat a lowered estimate at goldman sachs, and i'm happy they're getting out of that consumer business. goldman has not had -- has not had a great year. they're down on the year about 10%, but you compare it to citigroup or bank of america down 26%. not awful, right? not awful. right now goldman sachs is one times book value. one times book value. one of the things i've always said tongue-in-cheek but not really, sometimes the customerses make money at goldman sachs and sometimes they lose money but goldman sachs always makes money. i like this company for the long term. and when things are volatile, and they haven't been volatile -- when things are volatile, they make even more money. a tough time for banks, a raising interest rate environment, all

bank of america, goldman sachs posting results above expectations. amy, you old goldman sachs. a lot of areas that beat but profit was down. revenues down. bond trading down year over year. what do you make of the report? >> there's a lot of puts and takes, as you mentioned. from a long-term perspective, and i know jim just sold it and we were talking before the show, i don't know what the near-term catalyst is, and there might not be one. long-term perspective, i know david solomon said he thinks we're at a ten-year low. i look at this stock and say earnings are trough. they might bounce along the bottom for a while, but earnings are certainly low. sentiment is low. valuation is low. so i do think we will have another investment banking cycle at some point, and goldman will be well positioned. i think we are going into a decade where liquidity will be harder to come by. i think it's well positioned from a long-term perspective. >> what do you make of sort of the falter they've had in the consumer side of those businesses? >> they definitely were missteps. i think they've admit

has failed in this article for the greek newspaper katia merini, said the famous economist jeffrey sachs predicts a quick end to the ukrainian conflict on russia’s terms, that is, nato refuses extensions. the eastern russian-speaking regions are transferred to russia, all sanctions from the west are lifted. sachs, a number of events contribute to this outcome, among them the victory of russia on the battlefield, and as a result of decreasing support from european countries. the united states is also increasingly speaking out against further spending on ukraine; if the kremlin decides on a full-scale offensive, kiev will face complete economic, demographic and military collapse. the baltic economic miracle in action in estonia, according to preliminary estimates, continued in the third quarter of this year decrease in explosives. compared to the previous year, it fell by 2.5%. the situation is so difficult that over the past week alone, electricity prices in the country have risen by almost 50%. now the average price of electricity is just over 30 euro cents per kilowatt. the government w

goldman sachs and bank of america the next ones to report.essure on for the industry. su keenan joins us with the latest. they were talking about loans and write-offs. what are we are expecting? >> three banks wrote off $4 billion in bad loans and that is double what they had written off previously. we should point out those three banks kicking things off friday saw profits soar, a third quarter record. that is why analysts are saying this has been a solid start so far. they are hinting up pressure points on the horizon, but overall interest income has fared well. that is my morgan stanley, goldman sachs and bank of america are really following a mixed result, strong profits, but warnings of uncertainty i had. -- ahead. goldman sachs has announced the green sky sale will dent third quarter earnings by $.19 per share. analysts will be watching to see how trading business performed at goldman sachs with many predicted it did not fair as well as competitors. a lot of a has to do with comparisons to very strong trading one year ago. bank of ameri

you have been -- you have goldman sachs still struggling. david solomon pleading for patience with the investor base as they focus on their pivot but bank of america, looking at the healthy 2.5% move higher after the companies quarterly results and some of the trading revenue strength as well as net interest income during the quarter. >> net interest income, a huge driver today. many of the major u.s. banks reporting earnings. the ceo told us he is confident in the sector. >> the results we are seeing in these big banks are though double-digit's, handling the environment very well. there is a slowdown underway, no question about that. but my view is if you do not get the worst-case scenario in terms of what plays out, these stocks have 40% upside in them at some point. >> talking to bloomberg surveillance earlier. catherine doherty and allison williams here to cover the banking sector for us. let me start with you. from the 35,000 foot view, what two earnings look like to you considering what we got today? >> they look good but the looking g

you went to goldman sachs. mark: i went to goldman sachs in london in 1988.avid: what did you do there? mark: i worked in the credit department. credit analysis which was probably the best thing i could have done because you build up a fundamental skill. david: many people people go to goldman after college. they get an mba. you decided to get a phd in economics. why did you want a phd in economics? mark: i thought that at some point i would work in public policy and it would be more useful. i toyed a bit with being in -- an academic. my father ended up being a professor. david: you did this at oxford. why didn't you do this in the united states or canada? mark: to be honest, you could do a phd at oxford in three years. if you are in the u.s. system is -- as a doctorate student, you spend a huge amount of time teaching. which is great if you want to be an academic. if you want the academic training and means the average time is -- david: you also played hockey. mark: i did. i was a star. [laughter] david: so you stayed at goldman for how many years? mark: in

you sold goldman sachs. >> i cut it back. i really increased the position, arm and instacart, because i thought those would drive it and maybe it's an early opening of the ipo window. i sold it when instacart started to falter, because that trade was over. and goldman sachs, back to just below a core position. there will be time to come back in, just not now. >> jimmy, you do have citi and jpmorgan. >> this is obviously very complicated. the next three years is when the bills come through in terms of the fiscal spending. it's 2024 through 2026. you think about what actually happens, that means excavator will work, general contractors, financing the use of those excavators, financing the materials that go into building that infrastructure. we can talk about capital markets. i think they will come back in the first quarter but they're not here now. >> in the first quarter? the first quarter? >> i do think. >> they're thinking the second half, not seeing it earlier at all. i'm in the private markets every day. it's not coming ba

shery: stand with goldman sachs, the bank suing malaysia in a u.k.ement tied to its role in the 1mdb investment fund scandal. for more, let's bring in averill hall. how bad have things gotten that you have this unusual step of a firm suing a country? avril: indeed, highly unusual step and it seems like things are coming to a head. it is also potentially a sign of goldman's executives increasing frustration with malaysia's demands to redo their 2020 pact, and this is of course over the settlement and goldman's role in the 1mdb scandal where we saw billions being looted from malicious state coffers and also how a huge chunk of that went to top officials and their associates and this was via bribes and kickbacks. it was helping 1mdb raise billions of dollars through bond sales. goldman had agreed with malaysia to fork out billions for its role in this was in exchange for dropping criminal charges. this was a very complicated settlement. it's worth noting that the deal was sealed with a previous government. the current prime minister has raised issue abo

shery: goldman sachs is suing malaysia and a u.k. this agreement festers over a settlement tied to its role in the 1mdb investment fund scandal. how unusual is this step? >> pretty unusual. how often do you hear a bank taking a nation to court? but that is exactly what is happening here with the new york-based goldman sachs, filing a claim in london against malaysia, and this all ties back to the settlement they struck with the country. we all know what the 1mdb scandal was, the diluting of the investment, extraordinary looting. goldman sachs helped with the initial fundraising, and that's been in a number of probes. in the end, goldman had to sign agreements with multiple parties and ended up paying $5 billion. the key part here is it did sign an exhaustive agreement with malaysia three years ago, but still there are disagreements about how it went down, what they still owe the country, and that has led to disaction after months on end, with the prime minister threatening to take goldman to court if they did not redo the agreement.

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. >> something that's already worrying global wall street, calls overnight out of goldman sachs. eurasia group and ig saying, the odds of a government shutdown have increased. now those odds of bipartisanship look even less likely. that crucial update this morning. she joins us back later in the show. we go from the u.s. to the u.k. because politics are centerstage here as well. the prime minister taking the stage at the conservative party contrast in manchester. lizzie burden is on location. she's all over that story. it looks like a really backbreaking moment for the prime minister. what's at stake here? >> you are absolutely right. the pressure is on the prime minister in this speech to unite the party but also inject a bit of inspiration into this conference hall. he's taking the stage at 11:45. we are expecting him to lay out his plan to fundamentally change britain as he will put it. we are expecting that to include an increase in the age for smoking, but also plans to scrap hs to. after so much provocation throughout this conference, this issue has sucked the oxygen out of

charlie: on the goldman sachs front there have been such low expectations for investment banking.w going into the eighth straight quarter were goldman is expected to show a profit drop in a lot you can blame on investment banking. we have known for so long that activity has been muted. what we want to look for today is forward guidance, is there pent up demand for ipo's or not? we have seen a string over this past fall. will there be more coming up, that is the question people want to know? kriti: are we going to see an arm, instacart, birkenstock or was that just a brief flirtation with entering the ipo market? talk to us a little about the trading revenue i asked in the context of goldman sachs making this big push in the commodity -- even jeff curry was expecting a super cycle and then things went solve -- south. charlie: trading is so important and the second piece of the puzzle for goldman. expectations there are low but again if you put this into context last year was such a big year for trading it goldman and in a lot of ways the traders to save the bank in many senses. the

going to sachs without having to wait in line at sachs , nothing like that.he application will be filled out in advance with the transfer of data that is already in the database. birth registration takes place without a visit to the zachs directly through government services. you can go and pick up the paper birth certificate at your convenience. through government services you can choose the time. if you have been issued a paper medical certificate, then your dad or mom will be able to assign the inn to subsequently, you will be able to use these documents to request a health insurance policy. accordingly, all these documents will appear in the child’s card in your personal account; all these documents can be used electronically. if you need to receive a paper copy of these documents, you will also. you will be able to contact the department to produce them on a paper copy and pick them up, receive them and store them. 5 days after registering the baby , a government service will appear in the mother’s personal account , a super service for the birth of a ch

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looking ahead you've got morgan stanley and goldman sachs.oing to be much more levered to the capital markets to deal making which we've seen sort of a mixed kind of performance in the three that reported on friday with regard to the capital markets. we'll see what morgan stanley and goldman sachs have in store there. and then bank of america's exposure to loan making, the nii we talked about, net interest income, we'll see if it mirrors the big three that reported last week. the question among the analyst community right now is, are these universal banks and jpmorgan alluded to this in the earnings call r they over earning on nii and under earning in the capital markets and if so what does that mean for 2024 if there is some sort of recession and if rates do stay higher for longer. what does that mean for the nii tailwinds they've been andy jassy -- enjoying much longer than the street expected. >> bank of america are notable they declined what many others have. 19% for the year in part. we sawit with the decline in the stock with a long fai

an then more bank results with fresh numbers from goldman sachs and bank of america.ng to break things down with the bank of america chairman and ceo, brian moynihan, in just a moment. fresh off of his earnings call. >> we're adding to the stack of economic data we've got this morning. retail sales and production business inventories out. rick santelli has those for us. >> mike, august business inventories we've been very lean on inventories, but this is a definite pop up 0.4% for august. this, of course, is much higher than the up 0.3 expected. you have to go to december of last year to find an equal number and go to july of last year to find a higher number. and any close above 5.18 in 2-years is a new high year close going back to '06. new high yield close going back to '07. 30, anything 4.98 or higher new yield close. another data point out, national association of housing market index for october and that we head east to diana olick. >> rick, home builder sentiment in october dropped 4 points to 40 and september's read revised down 1 point as well on the nehlb in

both bank of america and goldman sachs showed beats.ard among its larger bank peers over the last year. you can see they're down more than 19%, in part, though, due to some sizable unrealize id losses in its cash and securities portfolio. today's presentation showed that figure is now $131 billion. b of a and executives there have said that they never intend to realize those losses. the valuation has matured 13% over the last year as mortgage rates ended the quarter at the highest level in almost 23 years. the firm said today so those rates also having an impact on goldman as well, amid reporting quarterly earnings of $2 billion, there was an $828 million impact to net earnings from a few selected items, mostly commercial real estate exposure and green sky, as well as and the sale of personal financial management. gold sky extends loans to consumers for home renovations last week to a consortium led by sixth street. operating expenses at goldman were higher due to compensation and a write-down of intangibles. but goldman's banking and m

return on common equity which i'm going to casually say is double fortress goldman sachs.rtant as it used to be and the fact it about persistent cash flows? sonali: i think it is too early because investment banking has among the biggest return on equity. were in a down market. why is it such a good business for banks? all you really paying for the banker as long as you're not spending too much try to link your balance sheet out for the risky leverage loans. it is a down market. he had the banker saying it is going to come back. it is wishful thinking in an era we are looking at tensions around the world. there are questions about whether they can make money on this business for the next year or so. they think it will come back. to your point, the things driving the returns, and they are not the only one, jp morgan, bank of america, morgan stanley all double-digit returns on equity in this environment. lisa: how much are we seeing a divergence between money centers from goldman sachs and morgan stanley that both ms. net interest income, as well as, morgan stanley saying to

sticking with goldman sachs, the bank is suing malaysia's government in a london international courtation. complaints over the supposed violation and the imdb payout as well. there will be a lot to digest when you look at what the actual allegations are and how much of a material impact it has made. we know that when we're talking about goldman sachs, it had been processed into their earnings story, so from an investor standpoint this one is seen as something that was in the rearview mirror and already taken care of, but at the moment we will be seeing that countersuit. we will bring you all the updates on that legal process. one of the world's biggest providers of 5g network equipment will take a 3 billion-dollar hit, in light of their move with bondage. the massive swedish tele giant has been consolidating to some extent but now they're saying the charge could have a real material effect on earnings. the stock has been under pressure. coming up at the top of the hour you have those ecf earnings. stick with us. this is bloomberg. ♪ after i lost my mom, i lost my way. then i found yo

i'm here with kim posnett, goldman sachs global head of tmt.hour and a half north of san francisco. this is goldman's annual builders and innovators summit. lots of entrepreneurs here. i think you said about 100. what's the sentiment on the ground? it's been a more challenging year compared to years past between higher interest rates, a tougher funding environment. what are you hearing from the entrepreneurs here? >> deirdre, thank you for having me. we're here at our builders and innovators summit in california, our 12th year hosting it. it's an annual event to honor and celebrate the most successful entrepreneurs in the world, and this year we have an unbelievable lineup of people. we have seasoned entrepreneurs, business leaders, thought leaders, and we come together for this two-day summit where we talk about how to build businesses that impact the world. the major themes this year, as you would expect, are ai, geo politics. and it's a great way to be at the center of entrepreneurship, innovation, and i've been here for 12 of the 12 years w

>> there's a handful of stocks today that are taking the biggest chunk out of the dow, and goldman sachs is one of them it is 50 points in and of itself jp morgan is on that list. and chevron is taking the biggest chunk, 80 points 80 points on the back of the earnings i appreciate your time very much cameron dawson pete, talk to you soon thank you. >> let's get to our question of the day now. speaking of those declines, which dow stock would you buy on today's pullback jpmorgan chevron? j&j? p & g? the results are coming up. later on in the hour in the meantime, a check of some top stocks to watch as we head to close kristina partsinevelos is here >> the schuhoe maker is going u, shares of deckers up almost 45% year to date, and almost up 20% right now. sanofi, opposite direction the worst day ever on weak guidance as they plan to spend more on research development and overshadowing plans to spin off the consumer health care business, following similar moves by rival j&j and the moves have wiped off $20 billion from the sanofi market cap shares back to you. >> thank you, kristina partsin

sachs doubted that new financial injections could in any way change this situation.commentary: there are a lot of fools there, obviously referring to congress, from which biden asked for another 60 billion to help ukraine. russia, in response to the us deployment of nuclear weapons in europe, is forced to resort to compensatory measures. this statement was made by russian foreign minister sergei lavrov at the international conference on eurasian security. it is taking place at this moment in minsk. as the meeting showed, the countries of eurasia remain committed to dialogue between east and west, the head of the hungarian ministry of foreign affairs also confirmed, peter szijarta, well, the responsibility for the current collapse of the security system and economic ties lies with washington , the participants emphasize , the leadership of the north atlantic alliance led by washington has provoked a serious security crisis in the european part of our continent, and they have been doing this for many years, this includes the bombing of yugoslavia, the violent separatio

and the go she a to piece fascinating discussion, columbia university professor jeffrey sachs. thanks so much for your candor. and for joining us today. great to be with you, steve. really appreciate it. so what's the bottom line? there's just no doubt about it. us age, ukraine has become a political football. it's still flowing, but thanks for getting murkier as we get closer and closer to election day, washington has 3 options. as i see it one, it could pull back, which will accelerate a very different world order with the us. perhaps less central or 2. it could push for and negotiated into the conflict in a way that doesn't result in a collapse of confidence in america, stops the blood shed and assures ukraine its sovereignty in a sustainable arrangement or 3 vitamin ukraine. supporters keep pumping money and arms end of the war, hoping rushes operation collapses before renegade republicans cut off those dollars . but right now, we're closer to the scenario of slash funding and military 50, then negotiations, and deal making. and that's the bottom line. the unflinching quest

today we're talking with jeffrey sachs and economist who has a center for sustainable development at columbia university and offer several books including a new foreign policy beyond american exceptionalism. dr. sex, thanks so much for joining us. you've been out there some very fascinating essays saying america needs to take a look at its role in the russia, ukraine conflict that this was not simply vladimir putin trying to. and as a landscape that there is much more to it. tell us what you would like our waters to know about the origins of this conflict. of the origins that go back 30 years to a plan by the united states to surround russia by nato countries, especially in the black sea region already is big brzezinski, spelled this out in an article in a foreign affairs magazine in 1997. and in his book, the global chess board, i spelling out why ukraine was so central to the american strategy to reduce or, and russia as a great power. i. the idea was that if nato would expand to, all of the countries of the black sea surrounding brah showed that means to ukraine . romania, bulgari

. >>> we've got some breaking news out of goldman sachs. let's bring in leslie picker. what's happening? >> goldman sachs announcing the sale of its green sky and related loan assets to a consortium led by sixth street partners. the third quarter results will be announced next week. until closing expected in the first quarter of 2024, subject to closing conditions, of course, goldman will continue to operate the digital consumer lending platform. goldman paid 1.7 billion to acquire the platform. but the quick pivot is a reflection of their shift in strategy as goldman sachs's ceo said in the press release, the transaction demonstrates our continued progress in narrowing the focus of our consumer business. it includes funds and accounts mentioned by kkr and card works and it includes, quote, significant support from pimco through an asset acquisition. goldman shares down about half a percent. they were down a little bit more than that before the news crossed. >> in talks or reported for quite some time and some confirmation of this unwind. leslie, thanks so much. we appr

look at another one and that's, you know, apart from wells fargo, goldman sachs.t are hidden into the wall of interest rates, whether advisory or trading on goldman sachs or wells fargo, they have -- they had a huge mortgage business that sputtered to a standstill. the little stories within the larger story. if you look at these five banks they cut about $20,000 jobs this year. >> why has jpmorgan chosen not to go that route apart from jamie dimon? >> he's a lot of it. they are in a category of one here. they're still growing. they picked up firstp aric that added 5,000 jobs. really that was just a third of the 15,000 jobs they picked up. they're growing. they're growing their net interest income, growing dp deposits and revenue and growing their branch network as well. apart from that, they really are firing on all cylinders right now. >> i may be catching you off guard, but earlier this year ubs took over credit suisse. what's happened there in. >> massive consolidations. when you combine two huge global investment banks they do a lot of same things. you're goin

goldman sachs is a little bit different here. goldman sachs is incredibly hit or miss on earnings.en quarter, we've seen only four beats out of them and half the time up, half the time down. but here is what i'll point out to traders. goldman sachs tends to have big moves in the week or two post earnings. so what i would rather two is i'd rather wait until the report, see how the market reacts and ride that move. there can be pretty big directional moves. >> and what understand of b and a on the one hand versus jpmorgan, very interesting. and on johnson & johnson, what would you do there? >> this is a neutral range bound stock. it hasn't gone anywhere over the span of the last year and a half. so when you look at the increase in implied volatility we've seen going into the earnings report, i think it makes sense to sell the premium here in the options market. you have about a 3% expected move, but it normally only moves about 2%. so what i will do, i'll sell the premium in the options market and buy it back the next day. >> and let's end on kind of a dire note. lock heheed mar teti

was looking at the charts of goldman sachs, we know the noise around goldman sachs.talk about itz. it's been a difficult environment for investment banking. that chart, back to -- kuexcuse me, june '22, it's a small uptrend. but the noise that's been worked in is very high. and they've indicated, there was a cfo sitdown with jpmorgan recently that they're on track. if they are on track, i think the stock is on track. >> the issue for bank of america, the held to maturity portfolio, as you mentioned, but that really sort of underscores the differences between brian moynihan's leadership versus others in the space that don't have that problem, that -- >> specifically thinking of jamie dimon, let's say? >> well, i was going to let you -- >> i think jpmorgan did an outstanding job. it's egg on the face of bank of america that they really didn't do such a good job. it's less surprising in an svb -- first republic, even, that was -- they did a terrible job and took them out of business and jpmorgan was in a business to be the beneficiary of that. and so, it's not an easy o

big bank results this week with goldman sachs and bank of america. at j.p.posted strong results. they warn of pressures ahead for the industry. su keenan joins us with the latest. morgan stanley later in the week but let's start with goldman best -- goldman sachs and bank of america. >> we expect them to mirror the results from the trio of banks that reported friday. while at j.p. morgan, city and wells fargo had a good day friday and the shares were up and they reported a record third quarter profits, they rode $4 billion in bad loans, double the amount of a year ago. bad loans is something analysts are focused on as we wait for goldman and bank of america which report before the opening bell and morgan stanley midweek. for goldman, analysts say they report at the market open one week after announcing an agreement to sell a lending platform. they sold it as a loss, part of the unwinding in the four-way into consumer banking. that will dent third-quarter earnings. it was a $60 million hit. and we will see how the tracing -- trading business fared. trading nu