suntrust, not so good. suntrust, bank of america, j.p. morgan chase, wells fargo. them on the list. they cut ties to private detention facilities refusing to bank them. that's right. social justice banking. absolutely outrageous. good for congressman duffy and hopefully, the president and republican party will stand up and force those highly regulated businesses by the way, to follow the law and make sense. jeffrey epstein has been placed on suicide watch after he was found unconscious in his new york federal jail cell. epstein was found tuesday morning in the fetal position reportedly, marks on his neck. some say he attempted suicide others think he may have been trying to get a transfer out of the jail whether or not there were others in the cell, when he was alone or he had a belt or had those marks could've gotten there, there are a lot of questions pretty spokesperson they confirmed he's being held at the correctional center. jonas that the former reagan war has political director, republican strategist, fox business political analyst and great american, ed ro

the incremental subscriber for netflix. >> matthew, thank you for your time matthew thornton of suntrust. >> thank you. >>> amazon's two-day prime day is over. and the company says it was even bigger for them than black friday courtney reagan joins us with the numbers you need to know hi, court. >> hi, tyler if we only knew how big black friday was for amazon, this could make this equation easier. but there is a lot of things we could say. let's stick with the three big ones first, amazon says it sold more than 175 million items during the 48-hour event, topping its black friday and cybermonday combined second, and perhaps more important for the long run, amazon said it signed up new prime members, more of them, on monday than it ever has in history. and then almost as many on tuesday as it did on monday. so put those two days together, and they got an awful lot of new prime members. the trick, of course, is converting those free 30-day trials into long-term paid memberships. but from what we hear from other research groups, the retention rate is pretty good. third, amazon was not the on

we saw bb&t and suntrust earlier this year in the biggest deal since the crisis.ryone has been waiting to the answer to that question, so i guess we will see. the leaders of these banks have been pretty cautious on saying anything about it. they've said they are happy with their current market share, etc. vonnie: i woke up this morning and one of the first stories i read was this great story that wells fargo is in its ceo hunt day 106. what is the problem? hannah: the former ceo steps down in march after political and regulatory scrutiny. at the time, the bank set out to find it external ceo. the chair of the board said that would help complete the transformation. they've been dealing with scandals that started with fake accounts in 2016. they've been conducting this external search, and what we reported today is that the pool of candidates has narrowed. running,ant is in the alsoordon smith, and then the co-cielo and president -- co-coo and president is not in the running. vonnie: is wells fargo spoiled for choice and can't decide, or peoplee a dearth of who can

you will see more bb&t and suntrust.e number of them because there are not as many banks as there used to be, but there will be a steady drumbeat of consolidations. about $800eal, million. you will continue to see more acquisitions to generate more earnings-per-share growth in scale. scale is necessary to compete with the bigger banks. nejra: how do the bigger banks generate revenue? thomas: my opinion is, banks should grow when it is appropriate to grow. it is hard to manufacture growth. if you push too hard, that is how you make stakes. -- mistakes. they are creatures of the economy and it is not many times they have grown beyond gdp growth, so they use capital management and positive operating leverage. fed policy matters. net interest margins are going down. they will have to manage their way through race lower earnings-per-share growth period until we get steadying out and monetary policy. tom: why aren't we seeing more regional mergers? is it because they do not have a leg up on technology versus the majors? thomas

suntrust and teradyne are trading cheaply.ng much more reasonably priced if the bad flaws comes into play. kristina: lastly, we have maybe 10 seconds you have the fed coming. do you think there will be a 25 basis rate cut coming up? >> it looks less likely. i think probably it will happen but i don't think the market shoulding rooting for that. if that happens, it means things are getting weak. kristina: tim you're a pro at answering questions. >> thank you. kristina: the dow is down about 50 points. still off the session lows. [closing bell rings] there you go. the s&p 500 down about five points. the nasdaq down 11 point as we head into the fun weekend, you know, cool off from july 4th that will do it for "the claman countdown." i'm kristina partsinevelos. >> booming economy weakening the case for the federal reserve. all three major averages ending the day in the red after better than expected jobs report with investors less hopeful for a rate cut. dow is down 40 points at the close off the session lows. subpoena 500 and tec

first time i could think of that in a while suntrust sti and citizens financial, which i know nothing about. it's cfg chart is like showing something and these stocks have been out for the count for a long time. so maybe this is what that segment of the market needed >> were you making the case, joe, to get back into the feds which you have been telling people to avoid? >> start the show with what some of the biggest names in that group have been doing. >> i have been in other places in technology and now seeing the early signs netflix performance with amazon performance and i think you're seeing signs that there is money flowing back into those names, once again. i think if you look technically, netflix and amazon look like they are breaking out. amazon is at the highest level from october and, joe, you're so right to bring up netflix. this stock spent nine months consolidati consolidating. it's now 382 no resistance and been consolidating for almost the longest period of time netflix stock has done nothing for a long time. >> the greatest opportunity. i owned this stock and all i ha

keep an eye on sti, suntrust this is a regional, much tougher sector it's been consolidating around 64ruary. now it has broken out. i think 66 1/2, the juice is loose. this is where this thing gets going. take very little risk here it might be even by a signal for the rest this one is working. >> j.p. is the only one you own then >> i own jpmorgan. i own schwab, it doesn't look great. i might buy goldman sachs, it doesn't look good, but it could. >>> a triple final trade, josh, good >> i'm off for three weeks now >>> facebook, tesla, paypal, julia has a preview. >> the number one thing to watch is growing regulatory scrutiny is affects the company's business there are three areas that will reveal that impact, the revenue, which zuckerberg has warned will slow, user growth, which has been tag nating, especially in the u.s., and rising costs we'll have to see if they say anything about the challenge of innovating and staying focused. >> julia, thank you. phil lebeau has a preview. >>> really first of all, what happened to the gross margins in the second quarter remember, they really push

suntrust, the only regional i could find with a bona fide breakout, extending at 1% today.rgan still right at the highs, looking pretty darn good. the other important point to make, the financial sectors is not only banks, it's highly stratified there's a great of dis% between winners and losers i went and looks at the financials -- all three of asset managers they're doing horrendously affiliated managers 44%, look at the best performing market access, the bond trading software is up 78% you have to look at the sector, not monolithically you have to ask what are the drivers? some of them have time before they have to raise the rate they're paying while getting a higher rate themselves that is an important consideration. i say be guided by price action, pricesh u.s. bank corp looks outstanding. >> to that point on the fundamentals of the earnings, guys, widely sceneen, if you there's there will be four or five cuts, then you buy the morgan stanleys of the world it's got wealth management and it's geared, if we do see economic activity picked up, whereas the bank of americas

positive any positive close for those would be record all time closing high let's bring in head of suntrust advisory service and vice president and director of economic studies at the brookings institution. very good afternoon to both. michael, you don't think there will be a rate cut in july >> i think it's a little too early to talk about rate cuts in july particularly since we didn't get the inflation data that's been mentioned here in the last few minutes it's just a little early for that >> your base case is no action for the rest of the year at all or just not necessarily this month? >> not necessarily in july we need to get a little bit more data the fed really is data dependent but that data dependency >> stephanie, where do you fall within this rate debate? >> i think i agree you know, the report was strong. it definitely showed some slowing in the economy this year relative to last year, but nothing that was unexpected given the growth last year was boosted by the tax cuts. and i think this alone certainly would not cause the fomc to lower rates. the bigger question is how concern

they will bring me out to suntrust park. steve: how would you like to play for us?r" ] ♪ [cheers and applause] pete: andrew suggs. thank you very much, sir. ainsley: andrew suggs. carley has headlines. carley: amazing. can't wait to shake his hand. tribute pouring in after disney star cameron boyd's death. he was too young, too sweet, too funny, talented most decent kid around. the 20-year-old play sand letter's son on "grownups 2". he reportedly died from a seizure in his sleep, caused by an ongoing medical condition. dr. raj joined us earlier on warning signs of a seizure. >> typical jerking of the limbs. you could have someone staring off into space a few seconds, losing their orientation. they might experience a strange smell. there is not a lot you can pinpoint before the seizure actually occurs. carley: was to appear in the new hbo show, "mrs. fletcher." >>> two fatal crashes on boeing 737 max jets have been mainly blamed on software error. the committee will see if the pilots knew how to turn off the program as boeing said they could. the investigation could