in particular, at goldman sachs.nowledged he's not really succeeded on. that front. . and he needs to show he's taking charge and will be able to fix it in the coming months and years. sonali: a lot of musical chairs on wall street. one other big shocker at bridgewater. hiring ben melkman. speak about his role and what he is doing at a particularly transformative time for bridgewater. >> how often do we get to hear of a firm like bridgewater making a higher like this. it is one of the splashes we see in our story today that it is the most high-profile external money manager the firm has hired. he's someone who made a name that burden howard, had his own hedge fund, backed by steve cohen, dan loeb. download one to join show feld, left when they were dealing with their issues. and bridgewater is at a crossroads. 18 months, ray dalio, who has been synonymous, gave up the reins. now the new ceo and some investors, bridgewater needs to be able to prove it can continue to charge ahead and keep the title of the world's larg

goldman sachs is telling clients that is no reason to set out this rally.lex reported on this today and she joins me now. i shouldn't worry about this, why? >> the stock market has gotten expensive by just about any measure. if you strip at the magnificent seven stocks, it's expensive for the s&p 500 equal weight and that's expensive. we just have five straight months of gains with 22 closing records this year. because things have come up too far too fast, that's not a surly reason to be concerned and stay out of the market according to goldman sachs. bank of america made a similar point today. they looked at the s&p 500 equal weight index was has a p/e ratio of 17 which is about 13% overvalued and they found that times in the past it has similarly overvalued, it has seen gains in the subsequent 3, 6, and 12 months. because things look stressed doesn't and we can see further upside. katie: you have goldman sachs and bank of america linking arms but what about jp morgan? >> they've been among the rare contrarians with the lowest s&p 500 target among the big

this morning, goldman sachs reports before the opening bell. it is expected to be solid thanks to the wealth management business and revival in deal making with several internal issues. let's bring in hugh son with more on the report. hugh, great to see you from london. i'll jump into it. what do you expect from the report with the goldman sachs shares down 1% in the pre-market. what do you expect about david solomon's plans for the growth driver for the bank? >> reporter: we have to see a couple of things for the quarter. investment banking has seen a revival from citi and jpmorgan chase. i would see revenue up in the area of 30% to 35%. exceeding expectations for the quarter. that is a problem for david solomon. as you mentioned awm, this is the growth engine after the failure last year. they really need to hit their mark in terms of gathering a ton of assets and showing momentum in the private credit area. if he does those two things, they will be okay. i think the bigger issue is the selloffs last week in bank stocks has a bit to do with jp

we have the economist from goldman sachs saying he is convinced the u.s.conomy is deflating. >> that could happen, but likewise, it is possible it moves back further. it is also very dependent on how the data comes in. it tells you a lot more about the fed than it tells you necessarily about the underlining adjustment in the economy. the disinflation, i still think a lot of trends are improving, and you see that in the labor market as well. for the timing of fed cuts, the numbers matter. >> the question is how do the markets react? a sharp move to the down side for equities and upside for yields and the rate sensitive sectors with housing and real estate and all those to the down side. europe, however, after a knee jerk reaction, europe yesterday managed to close in the green. now what we have here in trade today is the european stoxx 600 holding steady as well. taking all this news in stride. what we are focused on this afternoon is the ecb's decision. i don't think anyone is expecting the ecb to make any move today. they will hold the borrowing costs at

coming up next, we will talk about goldman sachs exiting robo investing.er exit from the consumer business, more and that up next. this is bloomberg. ♪ sonali: this is bloomberg markets. it's time for the wall street beat. great dalio's diversification treatise buttering. we reported on what's happening to this trade. why did risk parity perform soap poorly in recent years and how has that spurred an investor exit? >> if we go back to what is risk parity, it's all about diversification. you put more of your money in commodities and bonds. the problem with markets is that diversification simply is not been a winning trade. everyone who looks at their personal account can tell. the best bet has been the s&p 500. if you are in a trade it's all about diversification then that will not look as good as a simple 60/40 portfolio. sonali: what's fascinating is the thesis itself flawed or has something changed about the market particularly given investor thinking about how to diversify? 60/40 has been a huge controversy. >> exactly and i think part of the problem is

tom: morgan stanley reporting, obviously a close rival for goldman sachs.ondering if they can replicate the results. what will you and the team be scrutinizing from that? quakes difficult news cycle for morgan stanley. they have been talking about pressure from their wealth management unit. he has called wealth management the engine of morgan stanley, but has been under pressure with inflows, profit margins, so that will be really interesting to watch today. the expectation for bank of america is that it looks similar to wells fargo or jp morgan, who reported disappointing earnings last week, in particular, on net interest income. that's coming under pressure as consumers seek to get more on their deposits. there's more competition in the deposit state -- space. potentially bank of america having to pay more to keep those deposits. tom: we are coming to the last leg of the earnings season when it comes to the u.s. what are the takeaways for you? quakes the message we get from these banks is a return to the old normal. the old normal wear net interest income

allman sachs gaining confidence after beating estimates -- goldman sachs gaining confidence after beating estimates. it is our stock of the hour, next. this is bloomberg. ♪ to me, harlem is home. but home is also your body. i asked myself, why doesn't pilates exist in harlem? so i started my own studio. getting a brick and mortar in new york is not easy. chase ink has supported us from studio one to studio three. when you start small, you need some big help. and chase ink was that for me. earn up to 5% cash back on business essentials with the chase ink business cash card from chase for business. make more of what's yours. you know what's brilliant? boring. think about it. boring is the unsung catalyst for bold. what straps bold to a rocket and hurtles it into space? boring does. boring makes vacations happen, early retirements possible, and startups start up. 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 happily fulfilled... which is pretty un-boring if you think about it. sonali: pr

join to discuss is the chief china economist at goldman sachs.ade, but still what was behind it? hui shan: looking at february data, it was up in real terms, up 20% year on year. look at the other measures of industrial production, up 7%, and look at pmi, showing signs of improvement. when we look at the complex of manufacturing, export, industrial, supplies to the upside, and that is the main driver of the upgrade. annabelle: when it comes to the consumer, though, are you seeing that resilience at all? are you seeing an improvement? that has been one of the weak spots as well. hui shan: right. on consumption, it is your perspective. if you put consumption with the high downturn, i would capitalize chinese consumption as a resilience. compared to the trend, we are still notably below trend. we talk about consumer confidence, income, the labor market, there are plenty of headwinds, but if you tell me that the housing market is down, you know, 50%, 40% sales, and 20% down prices, retail sales holding at this level, i think that is pretty resilient.

goldman sachs is set to report in the 7:00 hour.r the rough start to theearnings season on friday. jpmorgan chase reported lower net interest income and guidance fell short of forecast. the stock dropped 6.5%. the worst one-day performance in four years. it was down 8% for the week. citi and wells fargo closed the week lower. the earnings calendar is out and we hear from united airlines and johnson & johnson. we will hear from travelers and p&g and american express. on the data front, we have march retail sales at 8:30 and housing starts tomorrow. the fed's beige book is due wednesday and jobless claims on thursday. >>> we are watching apple shares this morning after the report from idc which said iphone shipments fell 10% in the first quarter. apple shipped 50.1 million iphones in the first half of the year. sales in china struggled thanks to the offering from huawei and the ban by beijing on foreign device in the workplace. apple indicated lower by 1.2%. >>> in the meantime, a cool event over the weekend. the ceremony in los angel

today, it's goldman-sachs.ally the strong story. 5.6%, it's one of the best performers in the s&p. i would also note that m&t bank is higher by about 5.5%, reporting earnings. schwab is higher by 3%. they also reported earnings. we're going to talk to walt bettinger in money movers, but a lot of these problems that were in focus this time last year, like for schwab, the deposit worries, have reversed. they saw deposits go up. they are seeing better numbers and seeing a lot more trading activity as goldman saw, but on the retail side for schwab, and that's helping out. >> as we pointed out, goldman had what seems to be uniformly reviewed as a very strong quarter, both in investment banking and trading. its key franchise is where it may have done better than its peers. that stock is up. to your point, sara, and carl mentioned this, jpmorgan shares just got shellacked on friday, in part of what was the guidance from the company in terms of its net interest margin and the like. but we have not seen that kind of bou

goldman sachs holding its annual shareholder meeting wednesday.son for the location, charlie gasparino is here to tell us why. charles: it is goldman's third-biggest hub of employees, first it was new york, second is dallas, third is utah, they have a bank, back office operations there and what is interesting about this is after the annual meeting held on wednesday, david solomon send personal invites to a reception to all the major players in utah for a dinner that is hosted at the governor's mansion. it's very interesting because one of the people who got the invite is marleau oaks, the treasury. marleau oaks has been on a chair against firms like that and goldman has been cited by gold for governors and elected officials as being too associate for environmental social governance and oaks has been one of the guys pushing back on that. makes for interesting dinner conversations for the annual meeting. goldman sachs, stock has been doing well and david solomon turning stuff around, rough patches, people leaving, into retail banking, stock is up pr

goldman sachs continuing its surge.e and how should you handle financial sector that's coming up next. >>> speaking of earnings, we're looking ahead to meta results. how options traders are logging into the name ahead of the report, when "fast money" returns. >>> missed a moment of "fast?" catch us any time on the go. 'rba rhtft ts.st money" podcast. 'rba rhtft ts.st money" podcast. wee ckig aerhi a team that's highly competent. i'm just here for the internets. at&t it's super-fast. reliable. you locked us out?! arrggghh! ahhhh! and most importantly... is the internet out? don't worry, we have at&t internet back-up. the next level network. i sold a pillow! >>> welcome back to "fast money. stocks continuing their rebound. the dow jumping 263 points for its fourth day of gaining in a row. the s&p up 1.2% and the tech heavy nasdaq up more than 1.5% ibm reportedly nearing acquisition of cloud software provider hashicorp, which could be announced in the next couple of days. hashicorp surging 20% on that report and shares of

we hear exclusively from the ceo, but first year why goldman sachs expects developed market inflation to gold despite recent hot cpi readings from the u.s.. this is bloomberg. ♪ haidi: let's get a look at the week ahead, the federal reserve will hand down its latest policy decision following the release of hot inflation a prints. bloomberg economics expects jay powell to dampen help of a cut. the job reports will show payroll growth slowing to do hundred thousand this month after surging by over 300,000 in march. in asia, april pmi's they're probably edged lower after surges in march and japan will release a slew of eco data after the boj left rates unchanged. looking at the results from all four chinese megabanks of this monday. bloomberg's intelligence is earnings persisting there even if the banks avoid a part. hsbc, standard charter releasing results this week. we are also waiting for earnings from the magnificent seven stocks, apple, amazon reporting after mixed results last week from their peers. samsung's results to out after preliminary numbers showed a sharp profit rebound in

i know goldman sachs help in the retail sales but we had a war going on over the weekend.s a monday morning were you surprised to see so much green on the screen. >> i was not, here's why were also here to your point number two the computers trade more money than humans do and the fact that global markets did not melt down overnight really gives a computers reason to come in and buy human emotion being what it is worth a play catch up with what the computer started assuming the states controlled the middle east. stuart: there's no flight to safety. i would expect a lot of money to go into treasury bonds putting the yield down.did not happen i would expect money to go into gold that didn't happen gold is down a bit. i was expecting oil would rally significantly and that did not happen, oil is down surprised at all of this, no flight to safety? >> i been doing this a long time i've been very involved in the computers behind-the-scenes and aware of the technological and financial advancement, you're absolutely correct those things should be running but that they're not proves

the progress of the vote and the joy of congressmen, democrats, known billionaire david sachs commented: these scenes of celebration will look especially stupid when ukraine suffers anyway. sachs recalled that the wars in iraq and afghanistan also began with the us allocating tens of billions. in the wake of such a breakthrough , legislators adopted documents on assistance to taiwan and israel, there are also tens of billions there. the palestinian authority called this aggression against the palestinian people. alexey vasilovsky, about new bills. the house of representatives of the us congress rejoiced as if they themselves i could believe that after. after more than 6 months of behind-the-scenes squabbles and negotiations, she still managed to pass a bill to allocate money to ukraine, but not everyone liked the yellow and blue flags that the democrats were waving. to order, to order, take down those damn flags, waving the flags of a foreign country in the halls of congress is not only a violation of protocol, it is also un-american, far-right. disgusting show of politicians who believ

did so well yesterday and morgan stanley is the closest analogue to goldman sachs.n this case were looking to see if the capital market can keep up. we think is a positive sign based on yesterday so morgan stanley could do well on the capital market side of things and bank of america following j.p. morgan's footstep. j.p. morgan had good results but not as high as a high expectation out out there but that'll be the story both banks will have good earnings but will be good enough for high expectation set up and baked into the price is coming in today. maria: i'm looking at a market that has been negative for a couple of days, not a good second quarter that is for sure as we look at the ten year treasury yields ahead of the federal reserve chairman jay powell speech later. he's going to speak at 1:15 p.m. eastern, the yield on the ten year is that for .65%. that's a must fight basis points this morning mark newton tom lee, they do a great job in mark newton says overall i cannot rule out more weakness this week and pointed out long-term interest rates are suppressing

the new law, sachs is convinced, will not save ukraine, because it will only be enough for half of that same summer counter-offensive, which failed miserably. elon musk also commented on the situation. in his opinion, the united states does not have a strategy for exiting the ukrainian conflict, plans for eternal war and the death of children from artillery fire shells, but in addition to money. the united states wants to send more supervisors to ukraine, the pentagon press secretary said. we are currently considering sending several additional advisors to the american embassy in kiev. they will have to manage logistics and provide oversight of the weapons that the united states sends to ukraine. i note that these people will not participate in hostilities, but will advise and support the ukrainian government and armed forces. the people who are most happy about the approval of the bill are: europe. nato almost openly stated: thanks to washington’s supplies, it is possible to continue to use ukrainians as human shields, despite the fact that the authorities of the old world themselves a

one place they have had intense competition with crosstown rival goldman sachs.ou did see them fall for another quarter lower than goldman and equities trading revenue. you need to see them be number one in that business or does that not matter? >> it is a fascinating topic. for morgan stanley, what investors care about is the wealth business. in morgan stanley there is healthy competition. when they think about what is going on at goldman on the institutional side because it is clear goldman is taking a lot of market share. in this quarter goldman was up 10%. morgan stanley was really up in their trading business. they are doing ok. over the last three to four years, it has been very clear goldman has been the winter. -- the winter. they have taken morgan stanley back to be number one in equities trading. there is some shared loss there. i would say to your point it is fascinating when you talk about it. i'm sure internally at goldman and morgan stanley there is healthy competition from a stock perspective it does not matter as much. what matters for morgan stan

sachs?k of america? >> bank of america is a lower risk, long-term play. i would say the three cs apply to bank of america, first capital markets are picking up for the industry and you should see that at bank of america, second credit quality is so much stronger than i or anybody thought at this stage, and bank of america had the lowest losses in the fed stress test and that should look good. the third c, the consumer. bank of america is a play on the u.s. consumer which is remarkably resilient. >> another look at retail, it tells that story. what about higher rates? if we're rethinking the trajectory for interest rates, higher for longer is not good for the banks, is it? >> well, i put out a note after the cpi came out last wednesday and said this might be a sell on the earnings situation between the higher for longer rates and the stocks having performed better here. opening day in baseball is a couple weeks away. the opening day for bank stocks, sustainable out performance might be pushed

the two big investment banks, goldman sachs and morgan stanley? this has more capital activity with stocks and bonds, consumer banking. there is less of a focus on these metrics, with deposit and loan growth. they don't like to have credit, they don't like to get out. right now, we know that we've got capital markets activity, which is driven for investment. i always tell you that. they have the best quarter in the group, monday morning. they had 14.21 billion. wall street was only looking for 13, 16% revenue growth, 26%. at the same time, goldman had impressive control which translated to a gargantuan eat. at $11.58 per share. that is 32% earnings, from a bank. that is solid, meaningful, on the ball. what's driving these numbers? they strengthened global banking, which houses investment banking with revenue up 15%, 32%. that's extraordinary. commodities trading was up 10%. this was all substantially better than expected. they had asset and wealth management and the platform solution which is a small consumer business. both did well with double-di

joining me now at post 9, elizabeth burton of goldman sachs.ood to see you, welcome. >> good to see you, too. >> i think that is partly what this market has been figuring out, how to best position for fewer cuts and higher for longer. what is the best strategy right now? what are you telling your clients? >> i do think folks should be thinking that we will have fewer cuts. i actually think if i was still in a cio role, i would be thinking about protecting my portfolio for even longer extension because i think there is always a risk that those cuts could be pushed further out, even if it is not our baseline. it is a bigger risk to portfolios for a court appointed height rather than a court appointed decrease, and a cio managing a large pool of assets, that is your concern, not, what is the fed going to do and how many times this year. >> you think the market needs cuts? and how would you assess that question? you here, the economy is awesome, it is incredible, we don't need rate cuts. but, the other school of thought is, well, at some point, we

revenues in areas like investment banking go up like with goldman sachs. a stock like that is what we would advise. we would wait in other areas. the market is hardly down right now. the sentiment is beginning to turn. >> we have to leave it there. thank you very much. on any type of dip, you buy magnificent seven. great to see you. for more on what is driving the markets, head to cnbc pro for insights and analysis. >>> we have more ahead on "worldwide exchange," including the one word that investors have to know today. first, boeing defending against another whistleblower and concerns over its 787 dreamliner jumbo jet. >>> shares of lifenation a livenation are crashing. >>> and latest selloff with your big money movers. a a a a very busy hour when "worldwide exchange" returns. stay with us. >>> welcome back to "worldwide exchange." time for the latest with pippa stevens. >> mike johnson holding a conference with house republicans to layout the measures to fund israel and ukraine and taiwan. johnson is bouncing threats from the party members against pressu

annabelle: goldman sachs surprises were a 28% jump in first-quarter net income defying expectations ofing how we are setting up an hour from the start of trading. we are looking like a struggle. no hurry to cut rates. we are seeing that uphill battle in this part of the region. that prolonged wait for monetary easing. futures up by 0.1%. we continue to see a surge in metals prices. kiwi stocks down by 0.6%. we are seeing it to flow as it heads toward the rbn target band. what that means for the monetary policy for central bank that was ahead of the curve. we do see the japanese shares falling in the previous session with these ongoing middle east tensions. and in the thick of earnings season as well. annabelle: and you can compound that to retail sales. they had better than would have been expected. that tells us that inflation risks becoming entrenched. we saw the s&p 500 falling more than 1% at some point, going back below that 5100 mark. lot of the losses coming through in the big tech space as well. apple and nvidia are some of the big laggards in the session. most u.s. treasury yi

so, let's pretend this news didn't exist and to tim and steve's point, i mean, where goldman sachs is making effectively an all-time high and it's been sort of lower left-upper right for awhile. morgan stanley has been flat lining since this point in 2022. it had a huge run, from, like, $30 to i think $101, and it sold off and here we are. so, that's on what's being an extraordinary tape and obviously a great environment for the goldman sachs and jpmorgans of the world, so, it's underperformed. you throw this on top, and what steve just said, why rush in ahead of earnings to this point? there's no compelling reason, given the fact that you hear from them next year and there's more to come with this, to buy the stock, unless you feel very confident that earnings are going to blow it out of the water and this is a nonstory. >> banks pay fees all the time, they pay fines all the time for various charges, so -- >> cost of doing business. >> right. so, is this part of it, or do you think about sort of the interim, where maybe opening new accounts might slow because they have to be more car

jonathan: goldman sachs is doing better. more of the same tomorrow morning. lisa: it is interesting that bank of america has yet to report earnings. it speaks to the dominance of the industry, but this is sort of the revival that people have been waiting for. the expectation implied in the market action. jonathan: smile, the focus will be turning. if you are just joining us, this is the set up. positive by 0.55%. equity is pushing higher. yields pushing higher as well. a risk aversion. yield to lower. we winding some of this price action. in sympathy with some of that, we are seeing the move with crude moving. some risk aversion. we are down on could this morning. lisa: it could have been a lot worse. a lot of people were looking for the potential of further escalation and now it is all but contained at he point to the question of the treasury response and whether friday was a read through. it is a good question that is still out there. jonathan: we will get you the retail sales. immediately after, and exclusive conversation

goldman sachs is the premier franchise to own. if capital markets get better i am 100% confident the structure is in place and the intellectual capital is there, and look what they did in structured lending and mortgages. that's where the opportunity was in the quarter and they crushed it. >> the commentary of other's matches your, and oppenheimer, mike says the beat is the best in breed, and we will expand on which stocks to avoid or enhance. >> it has always been the same old goldman. >> but the stocks sometimes left. >> yeah, and that was going after solomon, and people inside were planting the stories -- >> it took a little turn to the retail, right? >> yeah. but, but -- >> in fairness, they had at least one significant stumble in there trajectory of the business. >> yeah, and they addressed it almost immediately and said this was a mistake. that's risk management in businesses, right? then we hear all the headlines about so-and-so is leaving to go here and so-and-so is leaving-- that's always happening at goldman, and i have

still to come, goldman sachs shares their outlook on india's financial sector. it appears that strong growth is over, at least in the near term. this is bloomberg. ♪ starting a business is never easy, but starting it 8 months pregnant... that's a different story. with the chase ink card, we got up and running in no time. earn unlimited 1.5% cash back on every purchase with the chase ink business unlimited card. make more of what's yours. haslinda: welcome back to "bloomberg markets: asia." markets expecting the fed to wait until september for its first rate cut on the back of that strong i sent back to be pivot data. traders also pricing in rate cuts in july from the ecb and bank of canada and more moves from the boe and rbnz in august. let's talk central banks. we continue our conversation with mark mobius, chairman of emerging opportunities fund. is this a sign of more to come? >> i think yes, it could be. there is a very good possibility, yes. haslinda: in terms of how certain factors are being factored in, what assumptions are you making about the fed? >> i

goldman sachs, bank of america and morgan stanley all due to report.ning me is jenny surane who covers all this across the team in the banking space for your we had jp morgan, citi and wells fargo reporting friday. >> they all one by one said this is probably the end of the boom times for net interest income. if the fed was to cut rates later this year, while there is a lot of discussion about when and how fast, and how quickly they will go down, they basically one by one said this is looking like the end of boom times. we will have to start relying on other parts of our business. he saw things like bright spots in capital markets. real good equity underwriting and debt underwriting results from these banks. he saw them point to other areas that might bolster results as interest income fades away. tom: a transition in terms of the earnings picture and in the numbers. goldman sachs, the preview for today, what are the metrics eu and the team will be scrutinizing? >> they are the wall streetiest of the wall street banks. when he thing rebound in capital

but then goldman-sachs and morgan stanley -- goldman-sachs, by the way, again, we don't need to go overtuff we've already discussed, but we'll keep an eye on the financials. just because you're not here, doesn't mean it didn't happen. >> the world ended because i'm not here, and i restarted the world. >> it is your world, and we're just living in it. >> thanks for that. >> you're welcome. >> david solomon delivered the quarter we've wanted from goldman for a long time. it was a great fee-based quarter. morgan stanley, ted pick, he came in hot. you either felt that james gorman had just tanked it so that he could come in hot, or he could say, listen, when he's ebullient about m&a, and about ipos, i mean, david, that's your world. >> it is. >> welcome to it. i'm back no your world now. >> the m&a world, i would not share that ebullience. there's a level of business that will continue to get done. as we get closer to the election, i think, certainly, from the perspective of companies considering a large transformative deal, which we have seen very few, of course, harder and harder to get d

that was kristin olson of goldman sachs who else do we have to look forward to?riday we will have bob selleck, former deputy -- bob zoellick, former deputy secretary of state under jim baker. he has views on why both parties are wrong when it comes to manufacturing jobs. katie: david westin, thank you so much. this is bloomberg. ♪ you know what's brilliant? boring. think about it. boring is the unsung catalyst for bold. what straps bold to a rocket and hurtles it into space? boring does. boring makes vacations happen, early retirements possible, and startups start up. 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 happily fulfilled... which is pretty un-boring if you think about it. ♪ ♪ ♪ ♪ ♪ give into the rhythm of the islands and delight in a caribbean state of mind. visit sandals.com or call 1-800 sandals. you have to make it. and if you want a successful business, all it takes is an idea, and now becomes the future where you grew a dream into a reality. th

now, with all due respect to tony at goldman sachs, there was a note from adam parker, enough so that i was like you have to come on and talk about this because this is a bit of a change i want my viewers to know about. adam joins us now. it's good to have you back >> good to see you >> you have made a bit of a pivot, if i can call it that i want to read the headline that i took from your note and we ask discuss. our recommendation had been that the bull case was far more probable than the bear case, driving our judgment that there was an upside to the s&p 500, but now our view has changed that got my attention. why has it changed >> the three pillars to the bull case were easing financial conditions and growth margins expanding and the belief that earnings would grow, and there were a tightening set of conditions and a china recovery. we try to mark to market our views, and i have no idea right now if the net 10% moves up or down, and so i think the way jim framed it makes sense to me, 50/50 we move in either direction. why? one, the stagflation, like i wrote in my notes, if stagflat

goldman sachs is telling us why they received the technical on chinese and review.lf an hour away from the open and hung, change in and shanghai.

another proxy way may be brewing ahead of goldman sachs annual meeting.rino is here. >> shareholder meetings are where shareholders vote on certain american sure. the shareholder measures are called proxies. so people know that. it is kind of hard to untangle. not all shareholders vote. sometimes you go alon the line of proxy advisors. vanguard, black rock go along with iss on glass lewis that could make a difference what shareholder proposals are put up there. this is where it gets sticky for david solomon. i there are two, glass lewis and who are suggesting that he should be removed as chairman of goldman sachs. why is this a big story? i will give you the global 30,000 feet. this happens a lot with ceos. liz: jamie dimon. >> they tried to do it with jamie. liz: buffett. >> i don't know if iss would go after buffett t would take huge you know whats to go after buffett but i've seen proxy advisors go after jamie, larry fink, ceo, chairman, ceo of blackrock. larry: brian -- brian mon moynihan. they usually get beaten back. the difference david solomon doe

we've got a goldman sachs beat crossing the tape right now, cheryl cheryl with the breaking news. >>kets go. earnings per share a very strong beat, came in at 11, 58, street looking for 856. revenue, again, a very strong beat. 14.21 billion. and the street was looking for 12.92 billion. they also have he declared a dividend, 275 per share. a few things here. i was looking at the trading equities revenue, the estimate going into this was 2.95 billion, just on the trading desk. on the equity side. 3.31 billion was the actual number which is a pretty decent number, could have been better but we'll see. also, it really was the investment bank that really helped the company power through. those profits jumping 28% for goldman. and they also have provisions for credit losses of $318 million as well. but again, it was underwriting, deal making and that boosted the investment banking side of the business, maria. so again, the call's at 9:30. it will be interesting david solomon who comes on the call, executive departures he'll be asked about, there was an ill fated move into re retail banki.

war, however, this will not help ukraine, as many believe, including the american billionaire david sachs, kiev in any case will collapse in congress, trump supporter marjarie taylor greene accused speaker mike johnson, who recently promoted the adoption of documents, of betraying us interests. residents of novosibirsk were woken up by firefighters today the sirens took 7 hours to put out. fire on the roof of a residential building in the central region, the insulation caught fire and the flames engulfed an area of ​​900 m2. 40 people got out of the building on their own, only one needed the help of rescuers, there were no injuries, more than thirty fire engines were called to the scene. the winners of two super finals of the most prestigious world programming championship were met in moscow. in egypt , russian students from the higher school of economics and mipt beat their strongest rivals. hour-long tours, about 11-12 tasks, in which first you need to come up with a mathematical idea, and then formalize it in code, program the solution, and we wrote a lot of preparations when we went t

sachs, like elon musk , expressed dissatisfaction with the decision of the congress of the united states to single out ukraine. aid, and it was he who informed about the preparation of this security agreement. so the owner of tesla, spacex and many other things, elon musk, in particular wrote a quote: " what worries me the most is that there is no exit strategy, but only an eternal war in which children die in trenches from artillery shells, or charge machine guns and snipers in minefields . another statement that, well..." and as he poetically said, but tell me, i just might for elon musk, this is news that wars in principle do not stop for tens and hundreds of years, there are very short periods when there are no warriors, well, therefore, eternal war is, it is eternal anyway, in fact, it is almost never interrupted, just no, just this time it affects directly, maybe some interests, or there is some smear somewhere here and it directly participates in this with the help of the united states america, but plus someone is trying to make money from this war, and... we talked about some of

sachs, like elon musk, expressed dissatisfaction with the decision of the congress of the united statesmerica to allocate $61 billion in aid to ukraine, and he reported on the preparation of this security agreement. so, the owner of tesla, spacex and many other things, elon musk, including the inscription quote: what worries me the most is that there is no exit strategy, only eternal war, in which children die in the trenches, from artillery shells, or loading machine guns and snipers on minefields. another statement that, well, as he said poetically, but tell me, i just might for elon musk, this is news that wars in principle do not stop for tens and hundreds of years, there are very short periods when there are no warriors, well, that’s why the eternal war... it’s, well , it’s eternal anyway, in fact, it’s almost never interrupted, just no, just this time, it affects directly, maybe some interests, or there are some masks somewhere here and it’s directly the united states of america is involved in this, but the plus is that someone is also trying to make money from this war, and we ta

, the jeffrey sachs. thank you so much for joining us and upfront. great to be with you. on april, 13th, around launched more than $300.00 drones and missiles towards israel following a deadly is really attack on the iranian consulate in damascus. it's the 1st time iran has directly attacked israel, while israel's weighing how it's going to respond to around the attack and global leaders at the same time saying, hey, you need some restraint here. the us said that it wants to see these tensions deescalate and that it wouldn't join is really any military retaliation against your one question. for me is the us doing enough though to restrain israel? probably not at some level. i think israel will do something i it won't be helpful to anything. israel started this round of an escalation with the attack on the diplomatic compound in damascus. a pretty brazen i. i'd say more than pretty brazen, very brace and i rather illegal contrary to way at the geneva conventions on attacking diplomatic sites. a clear escal

jim, a few years ago i bought a stock in a company called goldman sachs in the low 200s. four hundreds my question is should i sell half of it and/or should i sell all of it? >> it's a great question i would sell a quarter of it now why would i not be more aggressive on the sell side? i think the numbers are going to come through great i'm more worried about a market pullback than i am about a pullback at goldman sachs, which i think is going have a terrific quarter. and it's just been smoking hot, and the david solomon, that he is not doing his job, all that stuff was nonsense they are doing fabulously, and i just wish that morgan stanley, the one i own for my charitable trust were doing a little better maybe the new ceo can move it along. i think there is untapped opportunity in the russell 2000. we talk about everything hopefully my list of financials will hope cure rate your interest in the space and we're keeping track of every one we may build a etf there may be a ben etf he loves to hear his name constantly just kidding see really good. much more "mad money" ahead.

and is working closely with goldman sachs and blackstone.names would add $1.6 billion to the offer. they were to be coming with details of such a deal and are probably offering between $33 and $34 hong kong within the sure that would give investors a premium of 15% to where it is straight in hong kong right now. this talk is not been trading since april 9, so if we do have details of this morning we could have a reaction within the market probably today or tomorrow. wednesday is a holiday in hong kong, so we should have fast reaction. annabelle: what is the path ahead as a private company? does it look to relist somewhere else and is this setting up receipt and -- a precedent for other companies? >> we have a list of companies that also went private when there was a push for luxury names to read exposure to asia. if they will live somewhere else is an open question. then look at the u.s. market getting better and better when it comes to listings and ideas. it could be a potential european market as well, but for the hong kong market is a cle

however, the new tranches are unlikely to help ukraine , says american billionaire david sachs. is that kiev will collapse in any case, and he considers this 61 billion only a starting point, because the wars in iraq and afghanistan also began with the same amount per year, in ultimately cost trillions of dollars. and another adopted bill is being discussed by entrepreneurs on the confiscation of russian assets in favor of ukraine, an obvious signal to business that the west is unreliable, maybe just. rob if a convenient moment presents itself . let me remind you that after the start of the special operation , the west froze almost half of our foreign exchange reserves, about $300 billion; in europe, where most of them have not yet decided to withdraw them, they still cannot find a legal way. the winners of the international programming olympiad returned to moscow, flight from cairo. the best in the tournament were students of the faculty of computer science of the higher school of economics. the absolute champions beat hundreds of teams from all over the world, they say the sec

talk alaska names you feel are well priced and goldman sachs looks cheap. what do you like? >> investment banking and take a look back in the 2023, liz, it was amazing how little was happening in the investment b anking area. now all the sudden you get into 2024, and we're absolutely r olling. take a look at earnings for morgan stanley and goldman sax and some of the other -- goldman sachs and other financial investments and the banking side is really, really strong. in the last three weeks or s a week ago this week and next week $3.5 billion in value in terms of what we've got coming out on ipo market. i look at it and look at different way of looking at them from a price perspective. pe is one thing but i like to look at price to book and the price to book is very, very palatable and this is a stock with plenty of room to the upside. liz: talk about tech. pete likes meta and alphabet, google. do you look at tech right now, scott? tell me what you think still has a runway. >> yes, i do look at it and probably one of the bright spots for this market and last time you were ru

goldman sachs changed the outlook on rate cuts moving it down from two.e started the year with seven. as you advise people to invest, what do they do next? >> frank, it is important to be diversified so we don't just own equities. we will have diversify with portfolio. more importantly, we have to look forward now. we start earnings season on friday. our own view has been that earnings could surpass ex expectations in the first quarter and it may be earnings this year trump a less accommodative fed. we need to focus on earnings and we need to look to pce later this month. frank, pce is a pointl less tha cpi. >> it sounds like earnings may come to the rescue and save the rally for the fed? is that your thesis on earnings for the first quarter expected to go up? >> i have seen estimates up to 4%. it is a low bar. tsmc earnings in yesterday. no bad thing to give you a hint of where technology moves. this is the thesis that earnings could trump a less accommodative fed. it is a better position to be in with economic growth in the united states and the fed hav

according to the new report from goldman sachs, some of the biggest players in the market are set to unload $325 billion in stocks this year compared to $191 billion in 2023 this as corporate funds and government agencies look to cash out after locking in impressive returns in recent years and look to the safety, as of late, of competitive returns of fixed income joining me on set in london is goldman sachs asset management vice president of fixed income great to have you here had you on the show many times what are you seeing in the fixed income market? are you seeing more demand for bonds across the board or the shorte end of higher yields? >> hi, frank great to be with you in person you make a great point of fixed income you see demand for corporate fixed income and equities and other risk assets and now rotating into core fixed income. government bonds and corporate bonds and recently insurance survey where we noted they are looking to add to the communications another thing which is interesting is corporate bonds high quality credit offers attractive income, but total return pot

do it, you can, i just ask you, don’t get sick, in may, don’t get sick, i understand, okay, evgeny sachled on the phone inviting next moment. listen, well, it’s amazing how i observe this amazing creative trust, even in the context of our very short conversation.

goldman sachs raised the forecast for the all-important non-farm payroll print to 240,000.nalysts polled expected that the nfp figure will come in at 200,000 which would be a marked slide from the 275,000 figure reported for february. we also had the chance to hear from the chair of the federal reserve jay powell. he said more data is needed for the fed to decide to cut interest rates. citing higher than expected readings on jobs gains and inflation. powell said the inflation has not changed his view if inflation is moving to the 2% par target. we heard from a slew of fed policymakers yesterday as investors remain split on whether the central bank will cut rates at the june meeting. one of the fmoc's hawkish members, atlanta fed president raphael bostic said he now expects a single rate cut this year. >> if the economy evolving as i expect and it will be continued gdp robustness and employment and slow decline of inflation through the year, it will be appropriate for us to move down at the end of the year in the fourth quarter. >> i want to take you to the market action thi

goldman sachs is in talks to transfer the credit card program with general motors. according to the wall street journal, barclays is the firm to take over issuing cards which has $2 billion of outstanding balances. any deal could come by the summer and mark the latest by goldman sachs in the pullback from consumer lending. >>> apple is targeting google workers in the bid to build the team for the artificial intelligence ambitions. a reviewing hundreds of linkedin profiles, apple has reviewed 30 from the tech file. apple created a secret lab in zurich for new a.i. models. >>> and nbc is looking to pay up in the push to secure nba rights from tnt. it is set to make a bid of $2.5 billion a year to air regular season and playoff games. the journal says tnt parent company warner bros. discovery is making a last-ditch effort to keep the rights, frank. >> i want to see the nba go back to nbc. ahmad rashad who i saw growing up. i'm rooting for it. silvana, thank you. >>> turning back to earnings. parade of tech earnings is rolling on with amazon reporting today following th