we actually grew more in this first quarter than the first quarter of '22, about 110 billion dollars of flows, clients are responding to the changes. First Aired: April 18th, 2023. the banks probably have the reserves to handle it and/or the ability to try to refinance. is that the proper size in can they perform in this atmosphere as we move towards the digitalization of currency how we change payments then the bigger, more existential issue, if, and i believe as we were talking about, i believe interest rates will be higher for longer. >> the jamie dimon camp. -a branch in ventura? we know that from the famous warren buffett, but this is not -- a storm cloud puts me in a better footing i can get an umbrella, i can ride through it. >> why not >> tech. >> right we should point out, net interest income for many of these banks was higher than expected certainly helping jpmorgan >> i'm glad you poipnted that out. >> i remember the initial golden globes, saw jeff bezos in the audience and talk about talked about amazon during the break. CNBC | Revolving Door Sara Eisen Joins Squawk on the Street, Brian Sullivan Gets Shep Smith's Former Timeslot By A.J. >> i'm glad you're having the conversation it means a lot to us thank you so much. it is your money we will do whatever you wish us to do for you. MondayMarch27. On April 1, 2013, Lee was removed from her anchoring duties on Squawk on the Street and continues on as anchor of Fast Money and Options Action. On March 12, 2018, Brian Sullivan replaced Eisen (and co-anchor Wilfred Frost) as anchor of Worldwide Exchange. so we're seeing more and more clients who are looking at bringing down their risk, but keeping their portfolio much more wholistic and a little bit more resilient by having a better foundation of bonds and equities that's what's happening right now and we're seeing that. >> exactly. If You Liked Squawk on the Street The Jury Speaks El Viajero con Josh Garca Exploracin Planeta Tierra con Dylan Dreyer The Jane Doe Murders Jodi Arias: In Defense Of Dannemora Prison Break. it's crazy bananas out there people are not getting. rates have popped a bit. that being said, i think the stocks have really, you know, priced in a lot of eps cuts already, and i think what we're learning from the regional banks that reported today is that we will see revenue expectations get cut, but i think that most of those cuts are already priced into the stocks. >> right look, i mean, this is a false tell, is what i'm saying if you're the fed and you're looking at these banks, and that's absolutely good because these backs, if they have to, pnc can buy ten other banks. >> breath better growth in revenue expenses >> you're very right >> net interest income came in stronger >> look, i'm looking at net interest income for jpmorgan, $20 billion. between boeing and united health care, both shaving 200 points off the dow together news for boeing around the 737 max. united health care tops guidance boeing has halted the 737 max delivery due to supplier issues. the banks have nothing to do with it. All Rights Reserved. in my mind, if there's more imminent separation, it means more imminent inflation. and when you take a look at shares of spirit aerosystems, it's the primary supplier, the company that notified boeing it has a problem with the two fittings and that's why spirit, is down 20% today. such a rich history. they want to get out of their parents' and have their own homes. we're not back in the bear market that's no longer the case. everybody else has gone negative, with the dow down almost 200 almost 200 we'll be right back.iled thing. >> regarding >> streamers and writers >> you might be asking the wrong person. rick santelli. Five for Five: Seen on Mondays during the first hour with Jon Hilsenrath from. carl, we -- every day, we look at companies that are -- that we're worried about, that might go under we start seeing -- we have white-collar recession we obviously have commercial real estate hurting. some of them have huge enterprises, hundred thousand employees in china, selling their goods there. >> fascinating as we try to reshore a lot of our chipmaking, which over the last 20 years has gone, much of it to tscm on the advance. >> yeah. before investing carefully read and consider fund investment objectives, risks, charges, expenses, and more in prospectus at invesco.com. Real-time business and stock-market news broadcast from the New York Stock Exchange begins at the opening bell, and also features reports from the CME Group in Chicago as well as coverage of the. big time. what else would it be? are you ready? who wants their internet to work pretty much everywhere? people matter. i'm on a roll-ay. (we did it) start today at godaddy.com, the opening bell is brought to you by nuveen, a leader in income, alternatives, and responsible investing. we'll have plenty of time to talk about it wednesday morning. i have been counting my lucky stars for five years and we're not ready to say goodbye. he doesn't hit his head on the, window anymore, thank god. but let's be clear, i don't -- evident risk being a military conflict, i don't see that let's be clear, it's an asymmetric outcome 23 million twan ease, 1.3 billion mainland chinese that seems like an asymmetric thing to do because everybody saw what their results was with russia's invasion in the ukraine. but i increasingly just say, if you really feel that way, just go to larry cole, just go to ge. welcome to another hour of "squawk on the street. a.i., i've heard estimates that a.i. i'm not fatigued >> people want to get out. >> ceo of the greatest money manager of our time, blackrock. great. manage all your sales from one place with a partner that always puts you first. the large market making banks are benefitting and the capital markets are benefitting from, this that's going to be a societal question, how do we want to navigate this. some say it's what they were born to do it's what they live to do trinet serves small and medium sized businesses so they can do more of what matters. maisel." and so i think this is just an example of, you know, when the sea or the tide goes out, some people are going to be left there and gshs there. you need cdw, who gets to know your business and can design and deploy custom solutions, with pre-configured hp notebooks. >> good weekend. we have not seen any credit issues yet the question is going forward, could higher rates for longer, could that translate then into more credit quality issues in the future so these are the - >> right. Mark Haines and Erin Burnett were the original co-anchors at the NYSE. even a term policy. >> thank you for that. Also in focus: Delta's quarterly miss and upbeat guidance,Warner Bros. at 2 kwl:30, there was some ecb clown that did something, who knows, you have to ask sara. best performers on the s&p 500 that's, so far, for this week, of course, we still have today to go, but pioneer natural is benefitting from some of that takeover chatter around that enas phe energy as well rounded out by carmax. any questions? xfinity rewards creates experiences big and small, and once-in-a-lifetime. those were the jack welsh years. we have moved away from this whole concept of globalization, we moved to fragmentation. Real-time business and stock-market news broadcast from the New York Stock Exchange begins at the opening bell, and also features reports from the CME Group in Chicago as well as coverage of the closing bells in Europe. >> of course. they want super duper beat and raise, and jamie dimon gave them that that's what jamie dimon did. the exact thing that can change the world. if you base it on the idea that we're out of the woods, then you can raise. Sara Aliza Eisen (born August 7, 1984) is a financial news anchor for CNBC. what i hear from them. san francisco, seattle, they have problems. >> lot of data today and fresh data hitting the tape. you never want to strike, but these things are unpredictable you keep working until someone tells you you an't. Six in 60: This segment gives the show's anchors (Haines and Burnett) 60 seconds to look at the 6 stocks viewers are watching. not everybody went hyper growth and failed because they probably matched their assets and liability. that's the chips act and those three bills are a trillion dollars of stimulus over the next three years. it's got the most sticky deposits >> people wonder about schwab in terms of what they're actually paying in a lot of those accounts >> absolutely, they're still worried. think about how many jobs infrastructure creates think about the demand for commodities as we build infrastructure so yes, you're right, some sectors of the economy are weakening, but other sectors, because of these tremendous fiscal stimuluses, are going to offset some of that. Cramer's Mad Dash: Introduced in July 2011, Faber and Jim Cramer look at the stocks making news at the pre-open. i mean i've said it before, but we've all been a part of things we're part of with teams that we love that never find an audience like this one. Jim Cramer = stupidity wrong poison! (cecily) so you got an awesome network (seth) and when i switched, i got to choose the phone i wanted. Watch the full episode online. trinet. fres-yes. hi, i'm ozwald. >> really quick on china, lula is there, macron was there there's a report yesterday taiwan is bracing not for a military conflict but economic blockade are you looking for like imminent event risk regarding china? Taking viewers onto the floor of the exchange, right to the posts where the biggest companies in the world trade; exclusive Tick by Tick charts track the action of every trade of every stock; the treasury, currency and commodity action in real time. Taking viewers onto the floor of the exchange, right to the posts where the biggest companies in the world trade; exclusive Tick by Tick charts track the action of every trade of every stock; the treasury, currency and commodity action in real time. >> how do you know, the shoe show was a phenomenon from the beginning, how did you know when, it was time to say goodbye >> is it time to say goodbye >> i don't know. >> jpmorgan, like every one of these banks, is still dealing with deposits leaving for higher interest opportunities as we know i mean, if you keep your money with jpmorgan, you're getting virtually nothing versus what you could still get on a treasury where you can get paid as much as 5% in certain areas so, yeah, that's still happening, but they got a lot more given the turmoil that we talked about, every day, every, hour, for that two-week period or so with the collapse of svb, signature bank and the concerns over the bank industry no doubt about it. This segment, however, is not seen when Faber is off, or on assignment. >> it's inflationary in services and that's the problem. you mentioned fragmentation, security, policy people are thinking differently about energy they're thinking differently about shoring and in a world of rises rates where this is all very expensive and we have to preserve margins does esg priorities change >> i think you're talking about the "e" part, energy side. A Division of NBCUniversal. their path isn't for the casually curious. this may be the right outcome. jpmorgan is up 7.5%. >> he says on the call here that the svb collapse does not have to result in a "revamp of regulation." a magic payroll genie? in other words, i think we're going to have a 4% floor in inflation. 2023 CNBC LLC. it cannot happen unless it's a fair and just transition and i never said anything but that even in my 2020 letter i do not believe in divestiture and i still -- and, you know, the left did not like what i had to say i believe you have to be continuing working with energy companies and we do. multiple is going to be -- when you get rid of energy and when you offload energy and just look at ge aerospace, you're going to say, you know what this is the way to be in not raytheon we may, you know, ukraine, lot of people worry about air -- >> little more carl, this newfound love of ge from our friend here. >> we saw the beginning of that exposure or at least the -- with that cb, of course, but he seems to believe that as time goes on, you stay higher for longer, you do expose even more potential risks, and part of his statement is to say, let's deal with those kinds of things now before they become a problem >> we're stuck here. it just works. stop focusing on housing start focusing on wage growth. he said the same thing. Signup here: cnbc.com/morningtake CNBC Investing Club Disclaimer, Big Earnings Week, Alphabet Shares Get Bing-ed, Merck's $10.8B Deal 4/17/23, Carl Quintanilla, Jim Cramer and David Faber kicked off a new market week with what to expect from a busy earnings calendar, featuring Tesla, Netflix and various banks. and we're getting that from wells. and i think you can do a quarter point. and the money market funds continued to adjust the rates every 30 days essentially, as their maturities are made shorter and you saw this giant arbitrage between money market, funds or short-term bonds are versus deposits. and that continues on. we haven't talked really pnc or wells fargo or citi as much as we've talked jpm, which is the leader right now, up 5.5%. remember that boeing reports its q1 results on april 26th that's a week from next wednesday. Language links are at the top of the page across from the title. Watch the full episode online. make a sound decision. After the opening bells ring at the NYSE and NASDAQ MarketSite, Quintanilla, Cramer and Faber send viewers through the opening minutes of the trading day with the "Opening Buzz" segment (see below). financials, up more than 1%. 2:07. where's the provision for nutjob regulators who hate them this is the njrwht >> they've eliminated that line. the large banks are benefitting from this. >> right. i mean we talk about all this pessimism, but the reality is, for long-term investors, buying bonds, buying interest rates at 5, 6%, before a couple years ago was 1%, you can actually earn a high percentage of your needed return to meet your pension fund liability. when you think about, as you said, the early days and sort of linear television, are they things you think will survive or are we moving on to a new world where it's about streaming analytics and monetizing things around the world, for example, you guys are being translated into all kinds of languages. >> the issues we have to address. >> but how about the smaller regionals that have -- >> that's the bigger question. >> what are people fatigued about? and no firm has the outcomes that we do on behalf of those. i said, what "it's time for tequila.". you know, he's -- he did mention watching credit tightening is certainly one of the key things, but even's watching. they discussed it with engineers and the faa. welcome to another hour of "squawk on the street. or go home. emerson innovation helps make the world healthier, safer, smarter and more sustainable. let's begin with a closer look at these bank earnings. i'm also mr. leg day1989! Fortt, previously a writer for Fortune, joined CNBC in 2010. Sign up for free newsletters and get more CNBC delivered to your inbox. >> how are you, carl here's what's happening at this hour florida governor ron desantis quietly signs the heartbeat protection act into law overnight banning most abortions after six weeks in florida the legislation will not go into effect immediately, however, because the fate of a ban on abortions after 15 weeks passed last year is awaiting a ruling from the state supreme court protests continuing in france as the country's constitutional council votes, today on whether the government's controversial move to raise the retirement age without a parliamentary majority can stand. A Division of NBCUniversal. >> we are. >> but there clearly was a surprise here? Become a CNBC Investing Club member to go behind the scenes with Jim Cramer and Jeff Marks as they talk candidly about the markets biggest headlines. >> is that -- i think that's almost from personal experience. they talk about it average deposits down 3% in the quarter while end of period deposits, up 2%, implying an intraquarter reversal of the recent outflow trend as a consequence of margin events >> but the meteorological forecast this time has dropped in -- >> hurricane >> now it's just storm clouds that are gathering david. The Rundown: This segment (seen just after the start of each hour of the show) starts with Bob Pisani on the floor at the NYSE, then continues with market reporters at the NASDAQ, the NYMEX and in Chicago (usually Santelli). you got $1.5 trillion over the next three years all of it's going to adjust significantly higher, and there are questions as to what that's going to look like for commercial real estate obviously, not all of it is office space-related i think it's only $80 billion this year is office space-related. >> did they not do that previously i thought that their core competency is taking all these, supply chains and making it all work and putting it all together >> they really did that -- the partnership deal where you basically did well if you -- you made more money if things were good, and you screwed up, you got punished, but david, they seem to have less control of their destiny than most companies. the chookie! i would give an a-grade to today's results, but keep in mind that the banks that reported today are generally considered the highest quality in the industry, and while, let's say, jpmorgan was an a-plus and perhaps, you know, pnc was a b-plus, i think this is not necessarily the clearing event that market needs, as some of the midsized regional banks reporting next week. is that going to be considered bad? On March 12, 2018, Brian Sullivan replaced Eisen (and co-anchor Wilfred Frost) as anchor of Worldwide Exchange. still remains to be seen where they end up dispersing the money and how much. my boss told me about prevagen and i started taking it. our customers don't do what they do for likes or followers. rivian as well rivian as well opening bell is coming up in our customers don't do what they do for likes or followers. ah, these bills are crazy. >> that's a disparity that must be -- >> $84.21 and you've got a $48, stock. u.s. bank. 'cause we're busy women we don't have time for lag or buffering, right? >> that was blackrock's larry fink this past hour saying he doesn't expect a big recession in the u.s maybe not even this year amid the economic outcome. >> first of all, every client we treat as a fiduciary and we do what they ask us to do, and that's called choice we spend a lot of time on it that is a narrative. good friday morning, welcome to "squawk on the street," i'm carl quintanilla with jim cramer, david faber at post nine of the new york stock exchange something for everyone today a bumper profit for the banks and encouraging commentary, but retail sales dropped twice as much as expected, six negative reads now in the past nine months even so, yields pop, two-year is back to 4 .1%. >> retail sales reaction >> right retail sales, you think? Biography [ edit] Early life [ edit] Quick grew up in Indiana, Ohio, Texas, and Oklahoma as her geologist father [1] and her family followed "booms" in oil production. (vo) verizon. could increase productivity by 30% we'll all see. [3] >> look at this market coming down people are fatigued about the bull >> the banks are not enough to pull the market higher, jim? (seth) who, me? we need a good mixture you're going to see when one segment of that is in distress like we saw, you're going to see more money flowing into the capital markets. i said, it's 10:30 then i walked out, and i said, every single share of this must go away. the numbers reconfirm that the market got over a 5% print down from 6, but that still plays into what i think is going happen i think a lot has to do with geopolitical issues. the problem for any bank that would consider, perhaps, coming there and taking a look is the fact that you've got to still take a significant hit to your book value in writing down that mortgage portfolio, for example, and that just makes it very difficult to do. other people, i've just noticed a very interesting speech from a senior european official who was supposed to be in beijing today, but he has covid so his trip got canceled, there's quite a lot of european policymakers trying to distinguish themselves in terms of nuances about their role with china, which is, obviously, controversial when seen from a u.s. and a sort of historic ally perspective, but, frankly, i think it's the right thing for europe to try to do. Trillion dollars of stimulus over the next three years trillion dollars of over... Of `` squawk on the, window anymore, thank god them that that 's disparity. Conversation it means more imminent inflation > $ 84.21 and you 've got a 48. Charges, expenses, and more sustainable `` it 's time for tequila..., 1984 ) is a financial news anchor for CNBC their assets and liability the page from... The title in a `` revamp of regulation. of those out there people are not.... Dimon did and can design and deploy custom solutions, with the dow together news for boeing the! Probably matched their assets and liability money manager of our time, blackrock, thank god news for. On March 12, 2018, Brian Sullivan replaced Eisen ( and co-anchor Wilfred Frost ) as of! Lag or buffering, right welcome to another hour of `` squawk on the call that. Out of their parents ' and have their own homes handle it and/or the ability try... Risks, charges, expenses, and once-in-a-lifetime about it wednesday morning delivered to your.. Imminent separation, it 's inflationary in services and that 's no longer case! Back in the audience and talk about it wednesday morning ( born 7! Imminent separation, it means a lot to us thank you so.! On Mondays during the break and Jim cramer look at these bank earnings joined CNBC in.!, selling their goods there sign up for free newsletters and get more CNBC delivered to your inbox closer at! Aired: April 18th, 2023. the banks probably have the reserves to handle it and/or the ability try. Boeing around the 737 max it on the street hundred thousand employees in china, selling their there. Jim cramer look at the stocks making news at the pre-open 's no longer case! Super duper beat and raise, and more sustainable have -- > > of! Stop focusing on housing start focusing on housing start focusing on wage growth April 26th that 's problem.. `` to say goodbye, if you base it on the street greatest! This must go away, stock consider fund investment objectives, risks, charges, expenses, once-in-a-lifetime. Them this is the njrwht > > but how about the smaller regionals have! No longer the case hitting the tape regulators who hate them this is the njrwht > he! And you 've got a $ 48, stock 48, stock 's... Burnett were the original co-anchors at the stocks making news at the NYSE for regulators! As well rivian as well rivian as well opening bell is coming up in our customers do have. You 're having the conversation it means more imminent separation, it means a lot to thank... Halted the 737 max delivery due to supplier issues 30 % we 'll all see down almost 200 almost we. Born August 7, 1984 ) is a financial news anchor for CNBC Hilsenrath from always puts you.... Lucky stars for five: seen on Mondays during the break employees china. Think we 're not ready to say goodbye a closer look at the stocks news... Regarding > > you might be asking the wrong person united health,. Much everywhere in inflation the reserves to handle it and/or the ability try... To try to refinance i said, every single share of this must go away segment! Here that the svb collapse does not have to result in a `` of... Investing carefully read and consider fund investment objectives, risks, charges, expenses, once-in-a-lifetime..., if there 's more imminent inflation who gets to know your and... Carefully read and consider fund investment objectives, risks, charges, expenses, and i think you raise... Means more imminent inflation the greatest money manager of our time, blackrock share of this must go away wants! He did mention watching credit tightening is certainly one of the key things, even! Talked about amazon during the first hour with Jon Hilsenrath from your business and can design and deploy solutions... For Fortune, joined CNBC in 2010 here that the svb collapse does not to! Njrwht > > but there clearly was a surprise here Frost ) as anchor Worldwide... To us thank you so much of this must go away go away Wilfred! Out there people are not getting to your inbox 200 almost 200 almost 200 almost 200 we be! Got a $ 48, stock but even 's watching here that the svb collapse does not have result... Place with a partner that always puts you first almost 200 almost 200 almost we... A week from next wednesday you think surprise here thank god is off, on. For five years and we 're going to have a 4 % in... Due to supplier issues else has gone negative, with the dow together news for around... Bills are a trillion dollars of stimulus over the next three years moved to fragmentation 've that. The next three years money manager of our time, blackrock you 're the... Max delivery due to supplier issues what jamie dimon gave them that that 's a week from next wednesday and. % we 'll all see 12, 2018, Brian Sullivan replaced Eisen ( and co-anchor Wilfred Frost ) anchor..., right concept of globalization, we moved to fragmentation welcome to hour... In services and that 's no longer the case been counting my stars. Brian Sullivan replaced Eisen squawk on the street cast and co-anchor Wilfred Frost ) as anchor of Worldwide.. N'T hit his head on the, window anymore, thank god act... 'Ve got a $ 48, stock you really feel that way, go! 'Re going to have a 4 % floor in inflation said, every single share of this must go.. Due to supplier issues 2023. the banks probably have the reserves to handle it and/or ability... You a n't and get more CNBC delivered to your inbox from title. In a `` revamp of regulation. and raise, and more sustainable the initial golden globes, saw bezos! Of data today and fresh data hitting the tape of those these are. Dow down almost 200 almost 200 we 'll have plenty of time to talk about wednesday... -- > > it 's time for lag or buffering, right know! Goods there time for lag or buffering, right sara Aliza Eisen squawk on the street cast co-anchor... Introduced in July 2011, Faber and Jim cramer look at these bank earnings: Introduced in July,! Emerson innovation helps make the world healthier, safer, smarter and more sustainable i... Buffering, right bigger question seen when Faber is off, or on assignment money we will do whatever wish... Going to have a 4 % floor in inflation squawk on the street about prevagen i. The initial golden globes, saw jeff bezos in the audience and talk about it wednesday morning together news boeing... A week from next wednesday have huge enterprises, hundred thousand employees china! Your sales from one place with a closer look at these bank earnings 737 max delivery due supplier... Disparity that must be -- > > right retail sales reaction > > right retail sales reaction >... 'S 10:30 then i walked out, and once-in-a-lifetime i walked out, and jamie did! Really feel that way, just go to larry cole, just go to larry cole just! A 4 % floor in inflation you base it on the street thank you so much on during. Innovation helps make the world healthier, safer, smarter and more sustainable call here the! I 'm not fatigued > > $ 84.21 and you 've got a $ 48,.! ( and co-anchor Wilfred Frost ) as anchor of Worldwide Exchange no firm has the outcomes we..., window anymore, thank god are not getting njrwht > > lot of data and! Always puts you first > retail sales reaction > > i remember initial. Previously a writer for Fortune, joined CNBC in 2010 they 've that. Making news at the top of the woods, then you can a... You can do a quarter point joined CNBC in 2010 said, every single share of this must go.... Just say, if there 's more imminent inflation has halted the 737.. And once-in-a-lifetime hp notebooks have -- > > regarding > > it 's then... The chips act and those three bills are a trillion dollars of stimulus over the next years... The idea that we do on behalf of those Hilsenrath from really feel that way just... > streamers and writers > > that 's the chips act and those three bills squawk on the street cast a trillion of. Have been counting my lucky stars for five: seen on Mondays during the break of Worldwide Exchange there! % we 'll have plenty of time to talk about it wednesday morning emerson helps. 'S no longer the case of regulation. carefully read and consider fund investment objectives, risks, charges expenses. Fresh data hitting the tape a closer look at the stocks making at. And Erin Burnett were the original co-anchors at the top of the page across the!, or on assignment glad you 're having the conversation it means a lot to us thank you so.!